[User] Please transcribe this text

[Assistant] Science, technology, engineering, mathematics, that was stem sandwich for Krista.


[User] Please transcribe this text

[Assistant] That is what the economy is begging for.


[User] Please transcribe this text

[Assistant] And will reward you for having, you gotta be the kind of person who has aptitude for it interest and would enjoy.


[User] Please transcribe this text

[Assistant] Working in these fields. I mean these fields here.


[User] Please transcribe this text

[Assistant] If there are things that I would be less qualified for than any of these, I would say being a doctor.


[User] Please transcribe this text

[Assistant] I'd be less qualified than any of these. I mean, I, I would be someone that if I ever, ever made it through medical school.


[User] Please transcribe this text

[Assistant] If you find something that is this perfect marriage.


[User] Please transcribe this text

[Assistant] Of something you enjoy doing that society really, really, really badly needs and you're filling that need. Wow. It's quite a future you have in front of you. Krista.


[User] Please transcribe this text

[Assistant] So uhm, Andrew, fantastic. You've saved this money. You already know the rules. The best thing is you just


[User] Please transcribe this text

[Assistant] Keep a good document of the eligible college expenses. You withdraw the money it's sent to you. It's best to


[User] Please transcribe this text

[Assistant] Request the money within the same calendar year as when


[User] Please transcribe this text

[Assistant] Right to school. Right. But with housing, particularly with off campus housing,


[User] Please transcribe this text

[Assistant] The best thing to do is have the money sent to you.


[User] Please transcribe this text

[Assistant] And then you pay it to the landlord. A lot of landlords won't accept a part rent payment anyway.


[User] Please transcribe this text

[Assistant] So, uh, regardless where it comes from, they want that full


[User] Please transcribe this text

[Assistant] Rent payment and some will send it back to you


[User] Please transcribe this text

[Assistant] If you send a partial rent payment instead of your full rent payment, you could end up with a bit of a mess.


[User] Please transcribe this text

[Assistant] Even if you set it up to go to the landlord, have the money come to you.


[User] Please transcribe this text

[Assistant] I don't know the situation. I'm assuming this isn't for an appraisal for a refinance.


[User] Please transcribe this text

[Assistant] So if, if you're, uhm, the key with any lender you're going to, where you're looking to do a refi.


[User] Please transcribe this text

[Assistant] That if you're going to shop your loan with multiple lenders, you really wanna see what the situation is.


[User] Please transcribe this text

[Assistant] That you're better off with a full traditional appraisal. On the other hand, if you're putting your house on the market, the broker price option is just fine. I think that's absolutely good to do. And again,


[User] Please transcribe this text

[Assistant] We don't know exactly what your goal is, what the purpose of the appraisal is. And based on local custom, it may be just fine to do a interior broker price option. It may be that it's better.


[User] Please transcribe this text

[Assistant] To do a full appraisal and again that depends on the circumstance that you need the appraisal for.


[User] Please transcribe this text

[Assistant] You know what we haven't talked about in a long, long time is appraising out a PMI.


[User] Please transcribe this text

[Assistant] So with the big run up in home values over the last several years, particularly the last two years, people who put down minimal


[User] Please transcribe this text

[Assistant] I'm down payments and have to pay that huge private mortgage insurance premium every month.


[User] Please transcribe this text

[Assistant] You are almost certainly in a position to appraise Al and no longer have to pay that.


[User] Please transcribe this text

[Assistant] But you must follow the exact requirements of your lender for appraising out.


[User] Please transcribe this text

[Assistant] And they will have a list of approved appraisers. They will let you know if you can do a lower cost option or not, or it has to be a full appraisal.


[User] Please transcribe this text

[Assistant] Typically you have to have made payments on time for the last either 12 months or 24 months.


[User] Please transcribe this text

[Assistant] But this is something that is money very well worth spending because home values have risen so much.


[User] Please transcribe this text

[Assistant] You almost certainly have the ability to appraise out a PMI.


[User] Please transcribe this text

[Assistant] So the Zelle thing, Karen, I'm really glad that you deactivated Zelle on your checking account. So yesterday alone on my Google News feed,


[User] Please transcribe this text

[Assistant] There were how many brand new stories about problems people were having with money being stolen out of their account via Zelle?


[User] Please transcribe this text

[Assistant] 11 in a single day. Uhm, TV reporters around the country, this has become low hanging fruit because they can do a Zell story every single day. Understand this is one of those things


[User] Please transcribe this text

[Assistant] That it's only a matter of when, not if, you're going to have money stolen from your bank account because of big bad Zell.


[User] Please transcribe this text

[Assistant] The worst idea banks have come up with in forever owned by the banks, this is a Frankenstein monster that eats up your wallet


[User] Please transcribe this text

[Assistant] And destroys the reputation of the nation's banks. They've got to fix the security problems with Zelle. Not now, yesterday.


[User] Please transcribe this text

[Assistant] And I appreciate you listening to this episode of our podcast. Remember, we're here for you seven days a week.


[User] Please transcribe this text

[Assistant] 24 hours a day, all time zones. We are here to serve you at Clark.com.


[User] Please transcribe this text

[Assistant] My pleasure to welcome you to the Clark Howard show where our mission is to serve you and empower you to make better financial decisions in your life. I can't believe it's already that time again.


[User] Please transcribe this text

[Assistant] Lucky Friday the 13th, we'll see. But I also get to hear.


[User] Please transcribe this text

[Assistant] Clark Stinks, my favorite segment of our podcast where you


[User] Please transcribe this text

[Assistant] Give me feedback when I've been a terrible communicator.


[User] Please transcribe this text

[Assistant] Or when I maybe have given bad advice, bad guidance, or in your opinion, bad information. And later, you haven't traveled in a while.


[User] Please transcribe this text

[Assistant] There's a mind-blowing thing the airlines are starting to do you need to be aware of.


[User] Please transcribe this text

[Assistant] Ken, thank you and your suggestion, regardless of what card you use, using, uh,


[User] Please transcribe this text

[Assistant] In your case, Apple Pay or for Android users using GPay is really a great protection because of the way the payments are transmitted.


[User] Please transcribe this text

[Assistant] There's no usable number that the criminal has intercepted. And so that is a very good anti-theft idea using Apple Pay.


[User] Please transcribe this text

[Assistant] And in your case, because you do almost all your charges,


[User] Please transcribe this text

[Assistant] Using Apple pay digitally are using, uh,


[User] Please transcribe this text

[Assistant] Using the apple card digitally, you're getting the 2% cash back. On the other hand, for someone who has an apple card and pays the traditional way,


[User] Please transcribe this text

[Assistant] 1% is no great shakes, but in your case it's perfect. Alright, so back to your original point about how I can't stand the giant monster megabanks.


[User] Please transcribe this text

[Assistant] The reality is that Chase and Citi are so dominant in the credit card space that if you are going to have various reward cards, often you're going to have to have cards with one or both of them.


[User] Please transcribe this text

[Assistant] Uhm, particularly those that are into airline stuff are like me with the Costco Visa Cart issued by Citibank. Uhm, the Southwest Visa Cart issued by Southwest and we have the companion pass so my wife flies free all year long.


[User] Please transcribe this text

[Assistant] That's the issue is that, and besides, if you have a monoline kind of thing, you have just credit cards with the bank. They can still mess those up.


[User] Please transcribe this text

[Assistant] But it's nothing like having your principal banking with them.


[User] Please transcribe this text

[Assistant] With one of the giant monster megas having a checking account and having business accounts with one of them. Don't ever do that.


[User] Please transcribe this text

[Assistant] Okay, Timothy, thank you for that and we had somebody equal opportunity, we had somebody post before that Costco Optical had done that for them. And it's interesting that these two warehouse clubs


[User] Please transcribe this text

[Assistant] Are willing to do the adjustments to zenny glasses or glasses from anywhere else, just as part of being a member of the warehouse clubs.


[User] Please transcribe this text

[Assistant] Brian, thank you. It's really important to have communication with a teenager because their brains are still developing and all kinds of mischief goes on. And so, uh, as an example, if one of our kids is at a party and youthful indiscretion, they do, uh,


[User] Please transcribe this text

[Assistant] They know that they can call us and we will come.


[User] Please transcribe this text

[Assistant] Pick them up. They will also later have a lecture from us about why they shouldn't be drinking, but I want them to know that they have a safe zone to have us come get them.


[User] Please transcribe this text

[Assistant] And that's been true with all three of my kids, two have aged out of that now, now with the 16 year old. We have a lucky thing with our kid.


[User] Please transcribe this text

[Assistant] In that he's training to be a pilot and so he cannot


[User] Please transcribe this text

[Assistant] Uh, drink or use any drugs at all. It can take prescription drugs of most types. And so we have kind of a get out of jail free card with our son doing things like that. And, uh, didn't have that with my two daughters. Unfortunately, but.


[User] Please transcribe this text

[Assistant] You know, that's something I remember when he went for his FAA physical. The doctor who


[User] Please transcribe this text

[Assistant] You know, that's a specialized medical practice. The doctor was like, okay.


[User] Please transcribe this text

[Assistant] Every one of you kids think you're invincible, and here are the things I want you to know.


[User] Please transcribe this text

[Assistant] And he said, this is the kind of lecture you expect to hear from a parent, but you're going to hear it from me and you're going to listen.


[User] Please transcribe this text

[Assistant] And in addition to the drinking and drugs, what are the other things you think he mentioned?


[User] Please transcribe this text

[Assistant] Number one risk to a pilot losing his or her career.


[User] Please transcribe this text

[Assistant] So then you lose your entire career you've trained for if you listen to music too loud. So I've always been upset by a son listening to music too loud. I was all over him about that. The second thing was, uhm,


[User] Please transcribe this text

[Assistant] So that is a term I use that I should not use, which is


[User] Please transcribe this text

[Assistant] Not being in my budget because what I mean in my head is no way I'm going to spend money on that. What you're saying is that it sounds bad that I'm saying I couldn't afford to spend money on that and I could afford to spend a ridiculous amount of money on a mattress, but it doesn't fit the way I think about money.


[User] Please transcribe this text

[Assistant] And so I, there should be a better way that I say that.


[User] Please transcribe this text

[Assistant] Well I, uh, so I have done what you said, Gloria, and I have made sure that I will always have


[User] Please transcribe this text

[Assistant] My pills with me when I take a trip, I was just being my normal flaky self and it's something a lot of people don't realize is I am very, very scattered and flaky.


[User] Please transcribe this text

[Assistant] And so I have to do things by rote. You know, I have to.


[User] Please transcribe this text

[Assistant] Always put my keys in the same place, my wallet in the same place, whatever, because I am a complete flake.


[User] Please transcribe this text

[Assistant] Lisa, that's fantastic. I think that's absolutely great. And GoodRx and other, uhm, apps like that, services like that are wonderful to use.


[User] Please transcribe this text

[Assistant] Walmart, uh, historically, and I talked about this when I was talking about the problems at Dollar General.


[User] Please transcribe this text

[Assistant] And how dollar general has a stain on its reputation for treating its workers so badly.


[User] Please transcribe this text

[Assistant] I suffered significant reputational harm.


[User] Please transcribe this text

[Assistant] For how they used to treat their workers, and I say used to.


[User] Please transcribe this text

[Assistant] Cause Walmart is treating workers better than they used to. They're paying them better than they used to. They're offering better benefits than they used to.


[User] Please transcribe this text

[Assistant] Uhm, so are they like Costco, which pays their workers?


[User] Please transcribe this text

[Assistant] Incredibly high wages and great benefits. No, but Walmart has improved and dollar general. I'm gonna say it again. Go ahead and fix how you treat your workers because the long-term reputational harm isn't worth it.


[User] Please transcribe this text

[Assistant] Okay, Natalie, this is so funny because two months ago we talked about doing what we call an info pod.


[User] Please transcribe this text

[Assistant] You know, when I open up a podcast or the second half of the podcast, we talked about me talking about Publix and how Publix outperforms other supermarkets because of the employee ownership.


[User] Please transcribe this text

[Assistant] And that Publix gets a profit margin much higher.


[User] Please transcribe this text

[Assistant] Then other regional competitors they face around the country and the big national supermarket Kroger that they're much more profitable.


[User] Please transcribe this text

[Assistant] per dollar of items sold because the employees have spring in their step.


[User] Please transcribe this text

[Assistant] And we didn't do it because outside of a very small number of states in the country, nobody knows what Publix is. And that's why we didn't do it. So now thanks to you.


[User] Please transcribe this text

[Assistant] Doug, thank you. My beloved Atlanta Falcons are not going to win the Super Bowl next year. I can guarantee that.


[User] Please transcribe this text

[Assistant] Uh, repeat that part that Doug said about don't do the lame thing of.


[User] Please transcribe this text

[Assistant] Okay, so I am lame. I really believe that, that for the typical person putting money in, uh, on a regular basis through a 401k, Roth IRA, whatever,


[User] Please transcribe this text

[Assistant] That you just ride through the storms because if you look at the history of stock investing.


[User] Please transcribe this text

[Assistant] The largest amount of gains happen in very few trading days. So to tell somebody go to the sidelines and wait till the dust clears till the bottom has been hit. We never know when that bottom is.


[User] Please transcribe this text

[Assistant] I play the odds that over time there are far more up years and up quarters of stock markets


[User] Please transcribe this text

[Assistant] Then there are downwards. So I'd much rather stay in the game.


[User] Please transcribe this text

[Assistant] And ride through the rough waters because I don't know when rough waters become calm waters and I think back


[User] Please transcribe this text

[Assistant] When I kept trying and failing to get people to ride through the scary down market.


[User] Please transcribe this text

[Assistant] People who wrote it all the way down but stayed in?


[User] Please transcribe this text

[Assistant] Ended up with this enormous boom that started in the spring of 2009 with stock investing and road to huge gains through the teens or tens, tens.


[User] Please transcribe this text

[Assistant] That last decade we went through. And so,


[User] Please transcribe this text

[Assistant] If I had gone to the sidelines or advised you to and you put your money off to the side,


[User] Please transcribe this text

[Assistant] The problem is people don't know when it's safe and you would have missed a lot of the gains that happened particularly early on after the market bottomed out in 2009.


[User] Please transcribe this text

[Assistant] And I'm not predicting anything like that kind of collapse, but who knows it can happen. I mean, part of investing is the cyclical thing where we have declines of the market.


[User] Please transcribe this text

[Assistant] I believe that dollar cost averaging is your ultimate friend. That's where you put money in steadily, well diversified


[User] Please transcribe this text

[Assistant] I got some warnings for you about what's going on in the travel world and one particular shocker of a development.


[User] Please transcribe this text

[Assistant] Americans are back to travel big time right now, and I want to tell you, uh, scam warning.


[User] Please transcribe this text

[Assistant] Mix with a ripoff warning and then tell you something you need a heads up about. Okay, so scam warning. You do a Google search or some other search engine looking for travel to somewhere and something will pop up that is a screamin' deal.


[User] Please transcribe this text

[Assistant] And you click and you go through, it looks like completely a legitimate website and you buy and you book and let's say it's an airline ticket, get to the airport. They don't know who you are or you travel somewhere by car, by air.


[User] Please transcribe this text

[Assistant] And you get to the hotel or whatever it is and they're like, never heard of you. I remember we had someone who contacted us who had booked a place to stay. They thought they had booked on Airbnb, but it turned out they booked on a fake site.


[User] Please transcribe this text

[Assistant] And they got to the address and it was a vacant lot. So nothing there and their money was gone. I need for you to be really, really cautious and careful when you do any kind of search for travel deals using any search engine. And also I've got a gray area here.


[User] Please transcribe this text

[Assistant] So if you go on something like TripAdvisor and you're looking for a hotel, let's say,


[User] Please transcribe this text

[Assistant] You look through the reviews, you pick out the hotel you want, and then TripAdvisor will show you a whole bunch of different booking sources to book that hotel. And a lot of the ones they list there are really shady. I mean really shady. And they're not scamsters necessarily, but man, you should read what people post that


[User] Please transcribe this text

[Assistant] They booked at this or that or the other and they got there and blah, blah, blah. No room, nothing. The money's gone. Be very, very careful with how you get to booking for something.


[User] Please transcribe this text

[Assistant] In the world of travel, because particularly with the run up and prices of travel is suddenly everybody decided COVID was over and everybody's booking to everywhere around the country and now around the world that these scammers


[User] Please transcribe this text

[Assistant] Are able to con you more easily because hey, look at this price versus what I saw somewhere else. And before you know it, you got ripped off.


[User] Please transcribe this text

[Assistant] Could be anywhere on that continuum from ripoff to a scam. Okay. Then I gotta tell you one other thing going on and it's happening now at three airlines. You go to buy an airline ticket and they sell you an airline ticket and you get to the airport and you go through security and you get to the gate and your flight is a bus.


[User] Please transcribe this text

[Assistant] I'm not making this up. It'll have a flight number.


[User] Please transcribe this text

[Assistant] And you think you're getting on a plane to fly to a hub because the full fair airlines all use this hub and spoke thing. And so you'll go to a place that's maybe three hour drive from where you're flying out of out of the major hub and


[User] Please transcribe this text

[Assistant] Where they might have had you on a commuter plane before, could even be a wind up toy propeller plane.


[User] Please transcribe this text

[Assistant] Now you got the gate and you paid real money to ride a bus.


[User] Please transcribe this text

[Assistant] There is a bus at the gate. Now there is one advantage.


[User] Please transcribe this text

[Assistant] That is, at the little airport, going through security is probably a breeze.


[User] Please transcribe this text

[Assistant] Going through the big airport, security is a pain in the rear usually, long lines potentially. So you avoid that because you went through security at the first place.


[User] Please transcribe this text

[Assistant] But I'm telling you, you didn't spend airplane money to ride a bus. You just didn't. And so it will disclose when before you buy it.


[User] Please transcribe this text

[Assistant] Particularly in an airline website, it'll say transportation offered by blah blah blah bus lines.


[User] Please transcribe this text

[Assistant] Where usually with a commuter flight, usually you're looking for four digit flight numbers on American United and Delta for a commuter carrier typically, or in the case where the buses are happening, uh, it will tell you blah, blah, blah bus line. And then you'll know,


[User] Please transcribe this text

[Assistant] You're on a bus, not an airplane. In which case, you're probably better off because you'll probably get a cheaper fare.


[User] Please transcribe this text

[Assistant] Getting over to wherever it is that we're going to put you on a bus anyway.


[User] Please transcribe this text

[Assistant] But it's possible there are times that the bus ride would be cheaper


[User] Please transcribe this text

[Assistant] Then buying a ticket right from the hub airport because it, what they call fortress hubs, American United and Delta tend to charge more money than they do at spoke cities.


[User] Please transcribe this text

[Assistant] Because they face no competition typically or meaningless competition at the hub versus what they face at a spoke where it could be a spoke for.


[User] Please transcribe this text

[Assistant] American United Delta and then there could be service on discounters and things like that. So just be aware to look at that and be careful if you book on a third party site for airline flights.


[User] Please transcribe this text

[Assistant] That you want to make sure before you click to purchase that you go and check to see


[User] Please transcribe this text

[Assistant] Because at third party sites, you may not have good disclosure of that.


[User] Please transcribe this text

[Assistant] Kathy, this is something that if you go to a lawyer who does wills, estates, and trusts, this is automatic with them. It will be on the forms you fill out ahead of time for them, either computer generated or paper forms. They will have you fill out all your frequent flyer programs, the account numbers for them, uh,


[User] Please transcribe this text

[Assistant] Hotel programs, car rental programs, you may have points, anything like that. They'll have you fill those out because technically this is weird.


[User] Please transcribe this text

[Assistant] But your points and your miles are not yours under the law.


[User] Please transcribe this text

[Assistant] They belong to the airline or hotel or whatever, but, uh, airlines and hotels generally honor what stated in a will.


[User] Please transcribe this text

[Assistant] Generally not always. Uh, now let me tell you what practically goes on in a lot of families. Okay. So what people will do is they will give.


[User] Please transcribe this text

[Assistant] Who they want to have the points or miles later. Their account number and sign in. So better be a kid.


[User] Please transcribe this text

[Assistant] You really trust you want to have him or a friend, whatever.


[User] Please transcribe this text

[Assistant] At the time you do pass away, they just...


[User] Please transcribe this text

[Assistant] Sign into the account as if you're still there and use up your points. But the that's messy and the proper way to do it is to have it reflected in your will. And this is just one of those things that people have ended up forfeiting huge amounts


[User] Please transcribe this text

[Assistant] Uh, points or miles and who knows what kind of program if they're a regular traveler because they didn't plan and prepare for this.


[User] Please transcribe this text

[Assistant] Man, airfares that are being posted for summer are.


[User] Please transcribe this text

[Assistant] Got rid of so many of their employees with early buyouts back early in COVID and 20 and now airlines are having to park planes.


[User] Please transcribe this text

[Assistant] Because they don't have enough pilots and flight attendants to fly the schedules.


[User] Please transcribe this text

[Assistant] Every airline's falling all over itself saying, we're hiring 17,000 people this year. We're hiring 8,000 people, whatever, to try to deal with this. The cavalry's not coming in time.


[User] Please transcribe this text

[Assistant] To get all those planes scheduled out for summer. So we've got this massive pent up demand from people who put off travel in twenty and twenty one all hitting seemingly at once at the same time.


[User] Please transcribe this text

[Assistant] The airlines don't have enough people to get all their planes in the air. Supply and demand classic problem. Missoula also is a market that historically


[User] Please transcribe this text

[Assistant] Is really, really an expensive air market to fly into.


[User] Please transcribe this text

[Assistant] Best guess right now is domestic travel, your sweet spot for tickets with what fares have been lately is four to six weeks out. You right now are 12 weeks out.


[User] Please transcribe this text

[Assistant] So if you go with the classic formula, you would do that, but I would set up, you know, you can on kayak and Google, you can set up fair alerts. It'll alert you.


[User] Please transcribe this text

[Assistant] When the fair moves up or down each day price watchers and you're able to see if there's a meaningful price movement.


[User] Please transcribe this text

[Assistant] Over these next several weeks and you could go ahead and buy the other thing you could do. And I did this last time I went to Missoula. I flew to Billings because Billings was less than half the price of flying into Missoula, rented my car in Billings and drove West.


[User] Please transcribe this text

[Assistant] And it saved me a ton. There were four of us going.


[User] Please transcribe this text

[Assistant] Going to Billings instead. You can also check Salt Lake. There'll be a much longer drive up to, uhm, Missoula, but Billings would be a better choice and check Spokane as well as in Eastern Washington. In other words, the more flexible you can be about the destination airport in Montana, the better you're going to do potentially with the fare.


[User] Please transcribe this text

[Assistant] Alright, so let me explain this. This is a pretty rare concept, but if someone has been a meaningful donor,


[User] Please transcribe this text

[Assistant] To charities over the years, you'll get these UFO letters from them saying,


[User] Please transcribe this text

[Assistant] The remaining money goes to us. There are nice tax benefits with this.


[User] Please transcribe this text

[Assistant] And this is an esoteric complicated kind of area. First, Kelly, before you do this, I want you to see, um, hopefully you've had a lawyer prepare wills estates and


[User] Please transcribe this text

[Assistant] Wills for you, a lawyer that does wills, estates and trusts has been involved with your estate planning. You want to go see him or her and see if this makes sense for you.


[User] Please transcribe this text

[Assistant] Garrett or wherever else, you want to pay him or her to evaluate


[User] Please transcribe this text

[Assistant] The annuity plans offered by the particular charity you're thinking of making


[User] Please transcribe this text

[Assistant] One of these donations too, because this is, this is an odd sort of thing because it's both a charitable tax deductible donation and a source of income for you moving forward in retirement, an extremely complicated thing. And that's why having double independent expert advice


[User] Please transcribe this text

[Assistant] From people that are fiduciaries, the lawyer is a fiduciary you go to and the fee only financial planner would be a fiduciary to do proper evaluation of this from an estate tax and investment perspective. That was a lot for me to say, wasn't it?


[User] Please transcribe this text

[Assistant] And I want to thank you for all your questions today. I love hearing from people who have patterns of how they listen to me, whether it's in their car as they commute, whether it's while they're out walking their dog.


[User] Please transcribe this text

[Assistant] Jogging, whatever it is, I love that you have made me a pattern in your life and I hope that the information you gather empowers you so that you can take more control of your wallet, which is ultimately about having more control


[User] Please transcribe this text

[Assistant] Over the choices you can make in your life.


[User] Please transcribe this text

[Assistant] Are you really a saver? In a recent podcast, you talked about how great a deal the manufactured diamonds are. They're so perfect, but so much less expensive than a dug out of the ground diamond. And you got such a great deal for $1,800 for your wife's earrings. While I'm sure she really appreciated them, I can't believe a cheapskate like you


[User] Please transcribe this text

[Assistant] But hey, if it gives you both pleasure, then I guess there's value in that. But to me, not worth $1,800. I'd rather give the money to charity. Signed confused.


[User] Please transcribe this text

[Assistant] I'm a long time listener and big fan of the show. When Clark mispronounced Synchrony Bank so badly, he caused me to spit Arizona iced tea all over the desk.


[User] Please transcribe this text

[Assistant] I caused, I spent my Arizona IST all over the dash of my 200,000 mile paid for vehicle. Come on Captain Howard, details matter. You owe us 20 pushups for each time you've mispronounced it. Thanks for your service from a former cavalry officer.


[User] Please transcribe this text

[Assistant] Hotel rates have never been higher. Traffic is pure gridlock to locations that lack hotels.


[User] Please transcribe this text

[Assistant] But previously enjoyed lots of private vacation choices.


[User] Please transcribe this text

[Assistant] Minimum rent times are up to 90 days, giving consumers for normal length vacations no options for reasonably priced vacations. And that's from Lance.


[User] Please transcribe this text

[Assistant] There are 5 million unoccup many were bought during t


[User] Please transcribe this text

[Assistant] These will be harder for the owners to support and they will flood the market. Also, there is only so much a person or family can afford to spend on housing. This number is shrinking due to the economy.


[User] Please transcribe this text

[Assistant] So when interest rates go up, prices must come down. Buying power is dropping and this will feed the reversion to mean.


[User] Please transcribe this text

[Assistant] You don't stink, Clark, but your glasses are a little bit rosy, Jerry.


[User] Please transcribe this text

[Assistant] You said the Fidelity 2% card is a good card if you already have an account at Fidelity. This simply is not so. You've been saying this for years and I could not take it any longer. You do not need to open a Fidelity account to get the card and the cash back. I've been using the Fidelity card for probably 10 years since they first came out and when I signed up we did not have an account.


[User] Please transcribe this text

[Assistant] I signed up for the card, created a free fidelity account just for the credit card.


[User] Please transcribe this text

[Assistant] And linked to a bank account. Every month or so we transfer the rewards to our bank. Easy peasy and no prior account.


[User] Please transcribe this text

[Assistant] Thanks to you, we now also have double cash cards that we love also and they work similarly. Cheers, Clark. That's from Thomas.


[User] Please transcribe this text

[Assistant] Whenever Clark talks about HSAs, he states they can be used tax and penalty free for medical expenses. This is certainly true. However, Clark usually fails to mention that at the age of 65, you can take penalty free distributions for any reason.


[User] Please transcribe this text

[Assistant] And removes the fear of overfunding in HSA for those of us that don't expect high medical costs in retirement. And that's from Benjamin.


[User] Please transcribe this text

[Assistant] I'm a big fan of Costco too, but I live 70 miles from the nearest one. With the cost of gas, it is hard to justify going there on a regular basis. We have a local Walmart, but it's old, dirty, and not a good experience. I don't like going there. You never mentioned Target as an alternative to these stores. Why not? I find their prices pretty well in line with Costco and Walmart, and that's from Walter.


[User] Please transcribe this text

[Assistant] And I have the 5% card there, 5% every time.


[User] Please transcribe this text

[Assistant] Okay, I don't really think your advice to a caller who unplugged his electrical devices when he went away was wrong, but recently my house was nearly hit by lightning and I lost a TV, garage door opener, laptop computer,


[User] Please transcribe this text

[Assistant] My underground internet cable and a few other items. Even though some of these pieces were on search protectors, it was inadequate protection against such a large spike.


[User] Please transcribe this text

[Assistant] So I feel this may be of some interest to your listeners. Some electric suppliers offer whole house surge protectors. And that's from Robert.


[User] Please transcribe this text

[Assistant] Let's go to some questions. This is from Matt in California. The city double cash back credit card you tout has a 3% foreign transaction fee. Why don't you state that as a negative? Do you know of any 2% cash back cards that don't have a foreign transaction fee?


[User] Please transcribe this text

[Assistant] My wife has been drawing social security since 2019 and to our surprise it wasn't very much.


[User] Please transcribe this text

[Assistant] So when I read the article about spousal benefits, I contacted our local office to see if she qualified. Come to find out they originally made a mistake when calculating her benefits.


[User] Please transcribe this text

[Assistant] Great, great guy. I'm not sure the exact number of years, but not long enough because he's so awesome.


[User] Please transcribe this text

[Assistant] Okay, and from Lily in Texas, I live in Dallas and every gas station I passed yesterday in the DFW area has gas prices all exactly the same price in the suburbs and the city.


[User] Please transcribe this text

[Assistant] I said to myself, if I spot two more gas stations on the way home at that same price, I'm writing to Clark. This can't be a coincidence. It seems prices are slightly different all around town, typically.


[User] Please transcribe this text

[Assistant] Clark, stop saying that you know how the housing market will move going forward. Over the last few months you've mentioned many times that the market simply is nothing like the 08 and 09 market.


[User] Please transcribe this text

[Assistant] In fact, I remember you saying many times that inflation is nothing to worry about and that it'll self-correct by now.


[User] Please transcribe this text

[Assistant] My point is that you and anyone else really don't know what's happening at the macro level.


[User] Please transcribe this text

[Assistant] And should really stop commenting with certainty, Bobby.


[User] Please transcribe this text

[Assistant] This is, uh, let's see, this is from someone who signed at Elmer Fudd.


[User] Please transcribe this text

[Assistant] Clark needs to stop advising people to thaw their credit once frozen to reapply for new credit. Most people have enough credit already and shouldn't fall for the next flashy credit card ad thrown at them.


[User] Please transcribe this text

[Assistant] Your advice to a listener to skip the international driver's license if they were not sure it was required was stinky and lacked sense. You stated that officials never asked for it anyway. I've driven in two foreign countries and one of them asked for it at the rental desk.


[User] Please transcribe this text

[Assistant] Can you imagine the scramble when you go to pick up your car and are denied when asked for the license? What happens if you get past the desk and then get into an accident or pulled over for speeding?


[User] Please transcribe this text

[Assistant] Clark, your advice has brought me from a credit score in the low 600s during my college years to the 820s over the last 8 years since graduating. I can't thank you enough, but I've been paying the minimum on my federal student loans and in the income-based repayment plan with the goal of having my loans forgiven in the PSLF program.


[User] Please transcribe this text

[Assistant] Usually your tip bits on the student loan updates are super helpful, but the one you did most recently confused the heck out of me.


[User] Please transcribe this text

[Assistant] And covering the ins and outs of the specifics of what's going on with student loans. Sincerely, the guy who consolidated his federal student loans three years ago into being the income-based repayment plan and seemingly still lost out on those 36 monthly payments.


[User] Please transcribe this text

[Assistant] Only allowing $2,000 worth of deposits paying 4%. They've recently removed their fee, so now all three savings pods can then earn 4% with no fees.


[User] Please transcribe this text

[Assistant] Clark talked about baby formulas and he recommended new moms take their Costco or Sam's Club formula to the L&D labor and delivery to start their babies on it instead of the commercial brands offered by hospitals. I'm a pediatrician.


[User] Please transcribe this text

[Assistant] And I agree with baby formulas being roughly the same regardless of brand.


[User] Please transcribe this text

[Assistant] We support breastfeeding above all, but if it comes to formula, we don't have a particular brand to recommend. Although hospital policies generally do not allow


[User] Please transcribe this text

[Assistant] For you to bring formula in, or medications.


[User] Please transcribe this text

[Assistant] Uh, due to safety reasons and liability to the hospital. A baby could be started on a brand and then switched to another without much problems most of the time. So Clark, you don't stink, you probably don't deliver babies very often, and we understand. Lillian.


[User] Please transcribe this text

[Assistant] Longtime listener and thank you for all your great advice, but you're really stinking with zeal. Enough of bashing this choice. It seems like you will have a heart attack.


[User] Please transcribe this text

[Assistant] For something that you don't even use and that for some of us is the only way to send money to relatives overseas that do not have access to regular banking for currency exchange.


[User] Please transcribe this text

[Assistant] So not only Monster Megabanks offer this, the products


[User] Please transcribe this text

[Assistant] Has potential flaws, but as in the past with credit cards, it will be improved. We love you, Clark. I tortured.


[User] Please transcribe this text

[Assistant] My kids listening to you when they were younger and now I see very responsible young adults managing money. Carlos.


[User] Please transcribe this text

[Assistant] Clark doesn't stink, but does he know that some car insurance companies will reimburse you for lost, stolen, or broken key fobs? My mom had hers replaced and our insurance company would do the same. Two different companies. Melissa.


[User] Please transcribe this text

[Assistant] I went one time and it was with you. Oh. That's the only time I've ever been there.


[User] Please transcribe this text

[Assistant] I don't think any of your podcast listeners would do that. I really don't, but.


[User] Please transcribe this text

[Assistant] Yes, have with their kids and stuff. Yeah, for sure.


[User] Please transcribe this text

[Assistant] Alright, we'll go to some questions and this one is very relevant. Addison in West Virginia says, what is the best, most efficient way to earn money as a child? I am a child. No, seriously, I'm 11, but I love your podcast.


[User] Please transcribe this text

[Assistant] I would also recommend that if one of your parents is on Next, the app Nextdoor or in a local Facebook


[User] Please transcribe this text

[Assistant] Neighborhood group that they post your flyer on there as well. Cause I've seen a lot of people get worked at one.


[User] Please transcribe this text

[Assistant] Alex in California says, Hi Clark, I'm looking to move with my family to a different part of the state. We currently own a home, but would like to keep it and rent it out. Are there benefits for creating an LLC for a rental property?


[User] Please transcribe this text

[Assistant] And from Jason in New Mexico, I want to help my dad who is retired and financially strained by paying for his house. I would, I have the blessing of the means to pay it off. My worry is he makes poor financial decisions. He's okay with moving it into my name. My question is what is the best route to do this with taxes?


[User] Please transcribe this text

[Assistant] My wife and I have a $5.29 for our daughter, but the account value will fall really short of what's needed over four years. Could you offer some possible options on how to maximize or use this bonus style income for my scenario?


[User] Please transcribe this text

[Assistant] This is from Eric in Florida. Clark, I need your help to make sure I'm not making a crazy decision. We are considering purchasing our dream house for $750,000 at 28 years old.


[User] Please transcribe this text

[Assistant] We could live in this house for the rest of our lives. We will be putting down $300,000, 40%.


[User] Please transcribe this text

[Assistant] We will still have 6 months of savings reserved after this down payment. Our monthly payment will be about $3,029 including insurance and taxes.


[User] Please transcribe this text

[Assistant] Which is 25.5% of our net take home pay every month.


[User] Please transcribe this text

[Assistant] We make a combined $200,000 total compensation over the year and have no kids yet. My wife has $170,000 of student loans. We have $97K in a Schwab index fund that is earmarked for those loans once interest begins again.


[User] Please transcribe this text

[Assistant] Are we out of our minds for considering a house this expensive? I don't wanna be house poor, but we're below the patented 28% rule. Please help.


[User] Please transcribe this text

[Assistant] This is Jonathan in Connecticut. We are huge Costco fans as are you, but are really disappointed with the quality of their Kirkland Signature toilet paper.


[User] Please transcribe this text

[Assistant] Definitely not the superior quality of most other Kirkland products. I note that in 2017 you cited a Consumer Reports study that gave them a 37 or rating. We prefer the Charmin offering, but it's much more expensive. Any advice on more or more recent updates than five years ago?


[User] Please transcribe this text

[Assistant] I haven't done it in a long time, but it's mostly just articles that were about you that come up from my job.


[User] Please transcribe this text

[Assistant] No, I mean I'm not a big fan of some of the old photos, but they're not compromising, they're just not great.


[User] Please transcribe this text

[Assistant] There's also another Krista DeBias who was like a drummer in a band and she's like a big shot investment advisor, I think. That's not me.


[User] Please transcribe this text

[Assistant] This is from Morgan in California. Not a question, but an FYI regarding a tip on a recent show. I requested an auto home and umbrella quote from Amica since you are very complimentary of them and discovered two issues. One, they do not offer the dividend policy in all areas and mine is one such area.


[User] Please transcribe this text

[Assistant] Two, they no longer ensure homes in California due to wildfire risk. I would have saved approximately $365 per year, so I'm certainly disappointed. However, you did inspire me to shop for a better cell phone plan and long story short, I will save $68 and 49 cents per month. Thanks for the gentle reminder on the cell phone.


[User] Please transcribe this text

[Assistant] This is from Keith in North Carolina. When selling a vehicle is there any danger in giving the VIN to potential buyers?


[User] Please transcribe this text

[Assistant] The month after we returned home a thief began shopping on Amazon with our card number.


[User] Please transcribe this text

[Assistant] They shopped only on Amazon and bought two to three items per month for $50 or less. Because we were frequent Amazon shoppers ourselves, we didn't catch on until months later when the thief bought many items in a month and we bought none.


[User] Please transcribe this text

[Assistant] The backtrack through tons of transactions, stuff we ordered, videos and subscriptions.


[User] Please transcribe this text

[Assistant] Then this month they took it all back. Why? Because of our extensive relationship with Amazon.


[User] Please transcribe this text

[Assistant] We called Amazon who said our card had been attached to multiple digital wallets.


[User] Please transcribe this text

[Assistant] But policy prevents them from confirming this in writing to Chase. Chase is reviewing again, but we are not hopeful. This scam is carefully tailored


[User] Please transcribe this text

[Assistant] To loyal frequent Amazon shoppers and we got burned.


[User] Please transcribe this text

[Assistant] Uhm, but no, I don't go through it. I mean, I'm just starting to, I mean, I'm really trying to be better about going through our charges and, and uhm, checking them all, but no, I'll have to...


[User] Please transcribe this text

[Assistant] I thank Beth for making me think I need to do more of this.


[User] Please transcribe this text

[Assistant] You made no mention of the teachers unions, which are supposed to be looking out for their members' best interests. Are you aware that the NEA hired one of your favorite children, Vanguard,


[User] Please transcribe this text

[Assistant] To oversee its own 401k plan, resulting in investment fees at a fraction of what many NEA union members pay. If the teachers unions did their jobs better, we wouldn't need the federal government to get involved. That's from Jeff.


[User] Please transcribe this text

[Assistant] And this one, what stinks? Maybe it's the elephant in the room.


[User] Please transcribe this text

[Assistant] You rant about teachers' pensions, but I think you seldom mention the real problem teachers' unions. How much of the teachers' insurance payments goes right into the union piggy bank? Maybe you ignore it because you would have a tough time jogging with two broken legs.


[User] Please transcribe this text

[Assistant] Lots about this one. Clark doesn't stink, but his math does. In Clark's real estate versus stocks podcast, he said real estate averaged 5% per year while stocks averaged 12% per year over the last 50 years. He then concluded that stocks had generated a long-term game of over twice as great as real estate.


[User] Please transcribe this text

[Assistant] That is not how compound interest works. Over the 50 years real estate would have gone up 11.5 times their original value.


[User] Please transcribe this text

[Assistant] While stocks would have gone up 289 times their original value.


[User] Please transcribe this text

[Assistant] The stock investment would have had a long-term game of 25 times greater than real estate.


[User] Please transcribe this text

[Assistant] That's a lot more than two times as great. And we did have, I mean, so many Clarks thinks about this using, showing you the actual math saying the Barron's article that you cited was, was, uhm, incorrect.


[User] Please transcribe this text

[Assistant] I think Clark is missing a great opportunity to help people decide which mattress to buy. I've heard him talk about this topic many times and he always references Consumer Reports. I think a much better reference is a website called sleeplikethed.com.


[User] Please transcribe this text

[Assistant] The site is dedicated to beds. It provides advantages and disadvantages of the different types of mattresses.


[User] Please transcribe this text

[Assistant] Then for each type of mattress, it compares many competitors' products. It's very thorough and provides more details than Consumer Reports. And that's from Dawn.


[User] Please transcribe this text

[Assistant] Clark recently acted upset when a caller was lamenting that budget airline tickets make you pay money to sit with your little children while flying.


[User] Please transcribe this text

[Assistant] There are a family of six, kids ages 10, 8, 4, and 2, and we got an entire row on each plane. While I do admit we are taking a risk that perhaps our family will get split up,


[User] Please transcribe this text

[Assistant] It worked for a larger than normal family, so I imagine it will work for most others. I think the key is to try to check in as early as you can and secure your seat assignment before the rest of the crowd. That's from Ben.


[User] Please transcribe this text

[Assistant] You can diagnose your halitosis from my dental practice in New Jersey when you advise your listeners to never ever give health care offices your social security number.


[User] Please transcribe this text

[Assistant] Do you realize that many insurance carriers still use individuals' SSNs for their dental insurance benefit ID numbers? Without it, my office may not be able to verify insurance benefits or bill insurances for services provided.


[User] Please transcribe this text

[Assistant] In these cases, my office has to bill patients directly, which they hate.


[User] Please transcribe this text

[Assistant] If your insurance ID number is the same as your social security number, unfortunately your insurance carrier stinks and they should issue an alternative ID number to help protect you from identity theft.


[User] Please transcribe this text

[Assistant] Please let your listeners know that there may be some cases that providing the number to a healthcare office is okay.


[User] Please transcribe this text

[Assistant] I'm sure you'll have complete, oh, and then he says never say never and a friendly reminder to brush those teeth twice a day for two minutes and floss daily. And that's from Matthew.


[User] Please transcribe this text

[Assistant] A comment on the podcast about truck driving training programs. Many community college systems have truck driver training programs at a cost just a fraction of what the for-profit schools charge and there's no contract to stay.


[User] Please transcribe this text

[Assistant] You stink sometimes and you know it. You need to do, you need to come clean with us when you try to save a buck and then it ends up stinking up the whole financial house. Please share about once a month how your obsession with buying something cheap backfired on you. I have a funny feeling just a few of your failures could easily be a successful Adam Sandler movie. And that's from Brian.


[User] Please transcribe this text

[Assistant] By consistently plugging Costco and Sam's, Clark has proven that he's not as frugal as he wants everyone to believe. If so, he'd be singing the praises of BJ's. I've shopped there for many years. In the past several years, I've also shopped at Costco for my father.


[User] Please transcribe this text

[Assistant] Prices at BJ's are always the same or slightly lower than Costco for the exact same items. A major difference is the online experience. Costco bakes in the shipping cost into the online price while saying the item might be available in the warehouse at a lower price. But you don't know availability or price without going to the store.


[User] Please transcribe this text

[Assistant] BJ's tells you if the item is available in your local warehouse along with the price, so BJ's wins hands down. And by the way, Costco has a frantic vibe that I do not enjoy, and that's from Amy.


[User] Please transcribe this text

[Assistant] That folks like myself should be compensated. I want to work from work and home from home.


[User] Please transcribe this text

[Assistant] If I, if I don't get to sleep in my office, I shouldn't have to work from my bedroom either.


[User] Please transcribe this text

[Assistant] While I can appreciate that Clark voluntarily chose to work from home, I didn't.


[User] Please transcribe this text

[Assistant] I went back to the office as soon as I possibly could and even ended up getting a new job that came with the ability to work from work after I couldn't take any more working from home.


[User] Please transcribe this text

[Assistant] He asked if my employer had laid me off in March 2020 instead of forcing me to work from home, I would have made more on unemployment with a $600 a week bonus than I made working in public health remotely.


[User] Please transcribe this text

[Assistant] My effective hourly rate was negative while I was using an ironing board for a desk. And that was from Scott.


[User] Please transcribe this text

[Assistant] Well, I have one from Malcolm in Oklahoma. He saw an ad on Facebook by a company that claims they use decentralized investments to earn 15% interest. How safe is it and what is it?


[User] Please transcribe this text

[Assistant] From Chris in Texas, is it a good idea to open an Amazon store card?


[User] Please transcribe this text

[Assistant] Do the 5G networks compare to something like Fios, our current provider for the above?


[User] Please transcribe this text

[Assistant] Should I purchase my own modem and router rather than rent it?


[User] Please transcribe this text

[Assistant] It's my pleasure to welcome you to the Clark Howard Show where our mission is to serve you and empower you so you make better financial decisions in your life.


[User] Please transcribe this text

[Assistant] Well, you know, it's that time of year. College decisions are coming out and we're hearing staggering numbers.


[User] Please transcribe this text

[Assistant] On the news on how hard it is to get in some schools.


[User] Please transcribe this text

[Assistant] My all time favorite pastime, which is travel. My wife says that I'm happier in an airport than I am anywhere else. That's not quite true.


[User] Please transcribe this text

[Assistant] Uh, family's freaking out, having kids who are...


[User] Please transcribe this text

[Assistant] You know, on that serious college track, apply to tons of colleges more than people used to.


[User] Please transcribe this text

[Assistant] It's really easy now to send in multiple applications to a zillion different places. And then it's like this negative feedback loop where they're absolutely spazzing out about, oh how am I ever going to get in there? Or how am I ever going to get into a good college?


[User] Please transcribe this text

[Assistant] This is something that you should not freak out about at all.


[User] Please transcribe this text

[Assistant] Even though there's this very small number of colleges that are very difficult to get into, there are thousands of others, many of which are great, great schools.


[User] Please transcribe this text

[Assistant] That accept most applicants, and if you think about, if you talk to a college advisor, they'll say, okay, so we need a safety school. This is a safety school.


[User] Please transcribe this text

[Assistant] And you go visit and you're like, well, this is actually a pretty great place.


[User] Please transcribe this text

[Assistant] As the acceptances and rejections come in, please do not feel at all like


[User] Please transcribe this text

[Assistant] This is do or die. It's not. You're gonna be fine. I was turned down by the college I wanted to go to. Went somewhere I didn't want to go to.


[User] Please transcribe this text

[Assistant] And it turned out I had a great time and it turned out to be a fantastic stepping stone to what's happened with the rest of my life. So that's number one.


[User] Please transcribe this text

[Assistant] Chill about the whole college acceptance rejection thing. Second,


[User] Please transcribe this text

[Assistant] A lot of people are wishy washy on college these days. There's a lot of stuff being written typically by opinion writers who went to college and their kids went to college, but they're not really sure you need to go to college. Well, the thing is, there are lots of steps between college and no college. And I'm a big believer


[User] Please transcribe this text

[Assistant] And the need for what are called middle skills. Jobs that require some education or training that lead to a wonderful career path. And the opportunities are so great.


[User] Please transcribe this text

[Assistant] And there's more focus now on making sure you get that opportunity for a good career path education.


[User] Please transcribe this text

[Assistant] It state supported technical colleges and community colleges because both have seen a tremendous drop in enrollment that started in 20 early in the pandemic and continued.


[User] Please transcribe this text

[Assistant] And because it's been so easy for young people to get jobs now, people have said, I don't need that school.


[User] Please transcribe this text

[Assistant] But there's a difference between being able to get a job now that pays more than it used to.


[User] Please transcribe this text

[Assistant] And being in a job that leads to a solid employment future for you, a solid career path.


[User] Please transcribe this text

[Assistant] And so I'm very, very excited by these programs and I've talked about them for years because this


[User] Please transcribe this text

[Assistant] Was, uh, concept originated in the state of South Carolina.


[User] Please transcribe this text

[Assistant] That the state technical colleges and community colleges would go to local employers and say, what do you need? What skills are you not seeing in the marketplace?


[User] Please transcribe this text

[Assistant] So we can teach those. And they do these cooperative efforts with employers that you go through a program and you do well in it, then you migrate directly into employment at a good pay level with an employer that that program was designed around.


[User] Please transcribe this text

[Assistant] And you're going to see more and more of this around the country, may even be available right where you are, where you live right at this moment.


[User] Please transcribe this text

[Assistant] So there's a lot of things between.


[User] Please transcribe this text

[Assistant] Worrying about going to some prestige school and not going to college at all.


[User] Please transcribe this text

[Assistant] And this is one of those places that is people have turned negative on education. I want you to rethink the opportunities that might exist. I was talking to a friend of my son.


[User] Please transcribe this text

[Assistant] About the opportunities available being a licensed electrician and what's involved in doing that and that can involve an apprenticeship program where you get paid to learn. And then when you're done, you do well, you become a licensed electrician.


[User] Please transcribe this text

[Assistant] This is the kind of thing I'm talking about, is look at the jobs out there that pay well, that are stable.


[User] Please transcribe this text

[Assistant] That offer opportunity is something you might be interested in. I want to give another path being an airline mechanic.


[User] Please transcribe this text

[Assistant] Airlines are terribly short of mechanics. The job pays extremely well. And now any of a number of community colleges and technical colleges around the United States are doing programs that they're doing in cooperation


[User] Please transcribe this text

[Assistant] The brains of our operation. The COO of our company.


[User] Please transcribe this text

[Assistant] Is here to ask questions you posted for me and Christy, you get.


[User] Please transcribe this text

[Assistant] Uhm, just about a zillion questions each week.


[User] Please transcribe this text

[Assistant] And Cody, I got to tell you that is a very affordable as they go MBA tuition level. I remember when you were looking.


[User] Please transcribe this text

[Assistant] As I remember, you were quoting some of them to me. They were big money.


[User] Please transcribe this text

[Assistant] And this is years later and Cody's found a 40 to 45,000. So Cody, uhm, normally for undergraduates, I talk about FastWeb, which is a search site for


[User] Please transcribe this text

[Assistant] College, you know, obscure college scholarships very heavily emphasizes undergraduate. You may find some stuff there, but my favorite place for you to look is actually a person and that is professors in the business school.


[User] Please transcribe this text

[Assistant] Uh, you might find that being a graduate assistant.


[User] Please transcribe this text

[Assistant] Where you were teaching undergraduates at that university.


[User] Please transcribe this text

[Assistant] Is one of the best ways for you to really get to know people in the university among the faculty and


[User] Please transcribe this text

[Assistant] In research for a professor you're getting paid for, you may end up being, uh, considered to be a published author helping a professor on his or her publication or book. So as far as loans for a grad school, this one's hard because even with interest rates having gone up as they've gone up generally in the economy,


[User] Please transcribe this text

[Assistant] For graduate school, a lot of the private loans or lower interest rate


[User] Please transcribe this text

[Assistant] Then the grad loans you can do with the feds. You're going to have to compare the rates available under the grad student loan program that is government supported versus what's available


[User] Please transcribe this text

[Assistant] In the private loan market, uh, SoFi is one of the largest of the private lenders for student loans, but there are many others as well. And I hope you really enjoy your MBA program. I'll tell you, having a master's in business is one of the best things that happened to me and helped me through my life.


[User] Please transcribe this text

[Assistant] Well, mine was, okay, I was, we should just tell very quickly, a lot of people know this, I was a bill collector for IBM through graduate school.


[User] Please transcribe this text

[Assistant] That's B as a boy, not D as a dog. So long as I got an A or B.


[User] Please transcribe this text

[Assistant] I would be reimbursed. I had to lay out the tuition and then IBM would reimburse it.


[User] Please transcribe this text

[Assistant] And what a deal. And I had always been a pretty indifferent student. I remember my first


[User] Please transcribe this text

[Assistant] Not get a course reimbursing with no C's through my grad school days.


[User] Please transcribe this text

[Assistant] Alright, so Carol, uhm, in Texas,


[User] Please transcribe this text

[Assistant] I don't know what the eviction laws are in Oregon, but in Texas it's really, really easy and quick to evict a tenant.


[User] Please transcribe this text

[Assistant] Uhm, but you said something that set off alarm bells in me. So when your daughter is looking for a place to buy, this fall.


[User] Please transcribe this text

[Assistant] I'd like for her to buy a place that has


[User] Please transcribe this text

[Assistant] Uh, garage apartment she can rent out, you know, like a room over the garage or a basement apartment, something that is a separate entrance, kind of like a separate dwelling inside the property, because then you aren't having


[User] Please transcribe this text

[Assistant] Uh, basically someone who comes in as a stranger.


[User] Please transcribe this text

[Assistant] Living inside your place, using your kitchen, leaving it messy or not, whatever.


[User] Please transcribe this text

[Assistant] As long as you buy a place that has the ability to have separation for that tenant, then it's a much lower stake game.


[User] Please transcribe this text

[Assistant] And then it becomes just a really positive revenue thing. And then, you're not gonna be a nervous mama.


[User] Please transcribe this text

[Assistant] Yes you will Gregory, so you must have an existing American Express card. American Express is on to you and others just like Chase. Chase started this first and both of them have, uh, rules that they don't hide from you.


[User] Please transcribe this text

[Assistant] Each will tell you, are you eligible, you can ask, am I eligible for the sign up bonus as an existing customer? And they'll look at your record and they'll say, yeah, you can do one more application right now or no, you gotta wait another 12 months or 18 months.


[User] Please transcribe this text

[Assistant] So you can do one or no, we're never gonna give you a sign up bonus again.


[User] Please transcribe this text

[Assistant] And there may be other issuers doing this as well, but the only two that we've heard from people about are American Express and Chase. Chase, uh, used to allow you to get


[User] Please transcribe this text

[Assistant] Sign up bonuses up to five cards, five different times. American Express.


[User] Please transcribe this text

[Assistant] We're going to talk about something that I'm getting panic calls about is people try to book.


[User] Please transcribe this text

[Assistant] Summertime travel and they're suffering from sticker shock to the max and


[User] Please transcribe this text

[Assistant] I want you to know this is a problem everybody is having. We're gonna talk solutions ahead.


[User] Please transcribe this text

[Assistant] People are getting a shock at airports recently.


[User] Please transcribe this text

[Assistant] I was reading stories about what's going on at Austin, Austin, Texas.


[User] Please transcribe this text

[Assistant] At the airport there, on a recent Monday morning, the airport was so overwhelmed.


[User] Please transcribe this text

[Assistant] That people couldn't even return their rental cars. The line to return rental cars was a half a mile long and people just abandoned their cars.


[User] Please transcribe this text

[Assistant] They were told by the car rental companies, just abandon your car and leave the key in the car.


[User] Please transcribe this text

[Assistant] And eventually the car rental companies got the backlog.


[User] Please transcribe this text

[Assistant] Out of the roadways apparently took most of that day and then


[User] Please transcribe this text

[Assistant] The security lines were so many hours long that people who didn't have pre-check ended up


[User] Please transcribe this text

[Assistant] Not making their flights and having to be rebooked and many didn't even make it out of Austin on that Monday.


[User] Please transcribe this text

[Assistant] Now this is the worst example I've heard, but everybody's been caught flat-footed by the instant


[User] Please transcribe this text

[Assistant] Increase in demand in air travel. I mean, as soon as Omicron


[User] Please transcribe this text

[Assistant] Went into the background or whatever you call it, went in the rear view mirror.


[User] Please transcribe this text

[Assistant] Everybody all at once who loves travel decided, hey, I'm going.


[User] Please transcribe this text

[Assistant] My sister called me recently because she was having trouble finding decent airfares and


[User] Please transcribe this text

[Assistant] So I started looking with her and I said, well, you could go here, not there and things like that. And so.


[User] Please transcribe this text

[Assistant] But if there's ever been a time to follow my prime rule about travel, it's this.


[User] Please transcribe this text

[Assistant] Spring, summer, and fall. Do not pick your destination first. Unless you're having to go to a wedding or something like that.


[User] Please transcribe this text

[Assistant] Having to go to a wedding. That was terrible when I said, instead of, uh, having the joy of going to a wedding and you can't tell them, oh, you need to change the date and the place. But with travel this year.


[User] Please transcribe this text

[Assistant] Flexibility is going to be absolutely essential and there are also three new discounters


[User] Please transcribe this text

[Assistant] In the United States, two of prominence, Breeze and Avelo, that are not that well known.


[User] Please transcribe this text

[Assistant] Uh, deep discounters that people have learned to really complain about. Allegiant, spirit, and frontier. But I want to tell you something about these five airlines. So you look at their route maps.


[User] Please transcribe this text

[Assistant] And that helps you figure out where, even if you don't want to fly one of the five of them, where you're gonna find better deals on American United Delta


[User] Please transcribe this text

[Assistant] And Southwest, JetBlue is where they compete with the five deep discounters.


[User] Please transcribe this text

[Assistant] And so if you use, it takes just a minute.


[User] Please transcribe this text

[Assistant] You go to any of the airline websites, they're happy to show you their route maps. They're these spaghetti lines they show you of the United States and the Caribbean. And so you can see where they're flying.


[User] Please transcribe this text

[Assistant] And look at routes like that if you don't want to fly one of them.


[User] Please transcribe this text

[Assistant] On, er, on one of the regular airlines, Fulfa Airlines, I forgot to mention Alaska. Anyway, you,


[User] Please transcribe this text

[Assistant] International travel has not come back like domestic.


[User] Please transcribe this text

[Assistant] And one of the weirdest things right now is you possibly could find a much cheaper fare outside the United States.


[User] Please transcribe this text

[Assistant] You know, from the United States to somewhere else that you can find within the United States, very unusual as a summertime travel pattern. I think about, um, Krista texted me the other day and you said there's this deal to Costa Rica.


[User] Please transcribe this text

[Assistant] That was a hundred and twenty round trip. It was crazy cheap.


[User] Please transcribe this text

[Assistant] I mean it was unbelievable how cheap it was and it was for travel all the way into early 23.


[User] Please transcribe this text

[Assistant] And so there are these deals that are popping up randomly for travel outside the United States that are much cheaper than you can do a short hop flight within the United States. So the more flexible you are about where you go, when you go.


[User] Please transcribe this text

[Assistant] It's going to help you save money and then remember the August rule. Don't know the August rule? Okay. So I mentioned the August rule last month. A lot of schools


[User] Please transcribe this text

[Assistant] Particularly in the south and the west, go back early August. So August used to be the most expensive month of summer to travel for accommodations and also for flights.


[User] Please transcribe this text

[Assistant] Now because so many school kids go back as early as August 1st, depending on where in the country, it has sapped a lot of the demand for family-oriented summer vacations.


[User] Please transcribe this text

[Assistant] Making especially the second half of August and beyond a cheaper time to travel than you would see otherwise.


[User] Please transcribe this text

[Assistant] So usually you want to buy tickets for, uh, mid-August to Europe. Mid-August to, uh, really mid-December. No, let's go back. End of November. You want to buy those tickets in April, May. That that does not follow


[User] Please transcribe this text

[Assistant] The 90 day rule that, that what's known as shoulder season into early low season.


[User] Please transcribe this text

[Assistant] The best rates each year tend to be in April and May.


[User] Please transcribe this text

[Assistant] There are a number of new routes that several of the full fares are establishing for travel to Europe this summer and fall.


[User] Please transcribe this text

[Assistant] And look and see if you can find it, any of, like go to,


[User] Please transcribe this text

[Assistant] American United and Delta's websites and look for their press room and see what announcements they have about new routes to Europe.


[User] Please transcribe this text

[Assistant] And see if you can snag a deal on a route that they're going to start flying to that nobody's really talking about knowing about yet. And that's how you may find your best deal. But I would say April, May, that's your ticket booking window.


[User] Please transcribe this text

[Assistant] Well that's true, I should have said that, sorry. Uhm, the fares out of certain gateways are much cheaper to Europe than they are in the rest of the country.


[User] Please transcribe this text

[Assistant] You're in North Carolina, you can get to New York probably very cheaply, Boston very cheaply, sometimes Chicago will have


[User] Please transcribe this text

[Assistant] much cheaper fares but particularly New York and Boston are much more competitive for flights to Europe than other places in the country. Also being in North Carolina, sometimes you'll find much cheaper deals


[User] Please transcribe this text

[Assistant] Out of Washington Dulles Airport or BWI, which you could


[User] Please transcribe this text

[Assistant] It's not the easiest drive, but you could drive from North Carolina.


[User] Please transcribe this text

[Assistant] Up to the DC metro area, you might find a much cheaper fare to Europe.


[User] Please transcribe this text

[Assistant] It is a reasonable idea and maybe more work, Dave, than you need to do. And thank you for your service to the country being a USAA member. You are a family member served in


[User] Please transcribe this text

[Assistant] And so even if it was compromised, what would it mean is that you would be out the money for a few weeks before USA would restore it.


[User] Please transcribe this text

[Assistant] It's an extra precaution moving the money out.


[User] Please transcribe this text

[Assistant] Till after the trip and then moving the money back in. If that gives you more rest at night, do it that way.


[User] Please transcribe this text

[Assistant] Which might be a good idea for a kid at Disney because who knows what they'll spend, right?


[User] Please transcribe this text

[Assistant] Okay. I love it. I love it. You have the strategy. You've been able to work with credit card reward miles. So you take these wonderful trips for free. And my wife, Lane and I have done that same swing from Munich to Nuremberg to Rothenburg. And it's a great, great trip.


[User] Please transcribe this text

[Assistant] Okay, so Vicki, uhm, if you want to check out any airline


[User] Please transcribe this text

[Assistant] Just put in, in your search engine, Google or whatever search engine you use.


[User] Please transcribe this text

[Assistant] Is a product that has been through.


[User] Please transcribe this text

[Assistant] Uh, times that people have not really liked flying them that much but they seem to have their act more together. The guy who


[User] Please transcribe this text

[Assistant] Founded JetBlue, and he's the same guy who, who has founded this airline, Breeze, that I mentioned earlier. Uh, Neil, Jeff Neilman, he, uh, was involved in the turnaround of Air Portugal. So, I would feel comfortable flying on either of them to Europe, but remember my rule for when you're going on a cruise, with Europe or Asia, you want to arrive two days


[User] Please transcribe this text

[Assistant] Before your cruise. So if you have a flight problem, you've got time to deal with it for a domestic cruise.


[User] Please transcribe this text

[Assistant] You always want to arrive one day before the cruise when you're flying.


[User] Please transcribe this text

[Assistant] So you can deal with flight delays, cancellations, and the rest.


[User] Please transcribe this text

[Assistant] I want to tell you how much I appreciate you listening to this show and I hope you'll join us on Clark.com. Be a part of our newly relaunched message boards. We listened to you, we heard your feedback, and we have now improved our message boards. I hope you find them improved.


[User] Please transcribe this text

[Assistant] And I'm really excited about how we are all trying to be, there are some people who


[User] Please transcribe this text

[Assistant] Not really in the spirit, but most people on the message boards are members of Team Clark who are providing assistance to each other. And I appreciate us being a community of service to each other.


[User] Please transcribe this text

[Assistant] So we have a few questions related to this. Chris in Colorado says, with the current inflation rates, does it still make sense to pay off our mortgage early? We saved 20% in retirement accounts and have no other debt.


[User] Please transcribe this text

[Assistant] You know what I do? My rate is 1.875.


[User] Please transcribe this text

[Assistant] I refuse to pay today a 100 or $200,000 markup of a home.


[User] Please transcribe this text

[Assistant] These corporate investors want to make us all renters and they're destroying the American dream.


[User] Please transcribe this text

[Assistant] I also believe there is something to be said about demand with less emphasis on supply.


[User] Please transcribe this text

[Assistant] I could probably find a cheap home in rural towns for 150k, but forget it near big cities where the jobs are.


[User] Please transcribe this text

[Assistant] Speaking of a potential crash, Brian in North Carolina says this, My wife and I purchased our home four years ago. We have seen a tremendous increase in value. Currently our home is worth around 550,000 and we're looking at moving up in the house to the 800 to 900 thousand dollar range.


[User] Please transcribe this text

[Assistant] Would it be ideally better to value making a better value to make that move after a potential housing market crash or now while the prices are still increasing?


[User] Please transcribe this text

[Assistant] From a financial perspective, would it be best to wait as long as possible on this decision as we're not in a rush to move?


[User] Please transcribe this text

[Assistant] I currently have personal and business debit cards through our credit union, but I've learned I shouldn't use those for business supply purchases online or anywhere really.


[User] Please transcribe this text

[Assistant] And my mom wants to know if my purchases will be separated on the bill each month or if you'd have to go through it with a fine-tooth comb to see how much I owed.


[User] Please transcribe this text

[Assistant] Or is there a better credit card I can convince my parents to open for my use only that would allow me to contribute any rewards to a Roth IRA?


[User] Please transcribe this text

[Assistant] This is from Robert in Oregon. I have a $700 legitimate debt to a business. I haven't paid it and has gone to collections. I want to pay it off now, but how do I know they're legit and won't try to scam me?


[User] Please transcribe this text

[Assistant] It's my pleasure to welcome you to the Clark Howard show where our mission is to serve you and empower you. So you make better financial decisions in your life. If you're a new member of our community, I want to welcome you and we serve you five days a week.


[User] Please transcribe this text

[Assistant] With our podcast and every day of the year on Clark.com, our general site about your wallet and Clark deals.com where throughout the day and night we post deals that we have curated. We're not posting pay to play a lot of places you see out on the web.


[User] Please transcribe this text

[Assistant] They're being paid to list particular deals. Nope. We look for the best deals for your wallet. We don't want to waste your time.


[User] Please transcribe this text

[Assistant] We also have free newsletters for you on a variety of things that you can see at Clark.com slash newsletters.


[User] Please transcribe this text

[Assistant] Today I've got a personal story to share with you about how I'll, how I fought a battle for my wallet. By the way, it took me six months and later


[User] Please transcribe this text

[Assistant] People are so confused about the recent headlines in changes about how credit reports, credit reporting, and credit scores are going to work.


[User] Please transcribe this text

[Assistant] And I'm going to try to clear the fog away for you. Uh, first I want to tell you something on the cell phone front.


[User] Please transcribe this text

[Assistant] I told you recently that AT&T, and this is all because of inflation, worries about the economy, the war in Ukraine, that AT&T is offering


[User] Please transcribe this text

[Assistant] Or modest users of cell phones. A $10 a month plan that just launched.


[User] Please transcribe this text

[Assistant] This past Friday, and apparently people are having trouble finding these, but they're real, uh, $10 a month.


[User] Please transcribe this text

[Assistant] Gets you a, uh, is for a very light volume user. Thousand minutes.


[User] Please transcribe this text

[Assistant] Uh, all the text pretty much you can use, but a tiny amount of data, one gig of data a month.


[User] Please transcribe this text

[Assistant] The big news is the new T-Mobile $15 a month plan, which is unlimited talk and text


[User] Please transcribe this text

[Assistant] Three gigs of data a month, which works for somebody who


[User] Please transcribe this text

[Assistant] has access to wifi routinely.


[User] Please transcribe this text

[Assistant] Cuts and rates, we're seeing rates go up, are family plans. As the big carriers know


[User] Please transcribe this text

[Assistant] That by inertia, people don't break up the family plans, but it's become pretty clear that in so many cases, you'll do better if you break up the family plan. You don't have to break up with your family, just break up the family plan and put people on


[User] Please transcribe this text

[Assistant] The different plans out there from even different providers that are the best deals in the marketplace to get that expense down every month. So being a T-Mobile, I've been a T-Mobile, uh, customer for a long, long, long time. Um, gosh, at least 15 years and T-Mobile went through a time period that in


[User] Please transcribe this text

[Assistant] Uh, customer surveys, customer satisfaction surveys, they were really head and shoulders above their, what were then three competitors, Verizon, AT&T and Sprint. Now they absorb Sprint and they change CEOs.


[User] Please transcribe this text

[Assistant] And T-Mobile really seems to have lost its way with customer service according


[User] Please transcribe this text

[Assistant] To what you see in surveys where they've gone from the highest rated for customer service, customer satisfaction to the lowest rated, the big three.


[User] Please transcribe this text

[Assistant] The company is still in denial. I read some statements recently that their execs have made to the media that show that they refuse to acknowledge the internal problems T-Mobile is having with customer service. What's funny is I've experienced a problem myself


[User] Please transcribe this text

[Assistant] And I may bolt from T-Mobile because of the attitudinal problems there, even though the prices I've got are really, really great.


[User] Please transcribe this text

[Assistant] I've got uhm, I think 16 lines total on T-Mobile and so it's a lot involved in unwinding that. But I got a new phone seven months ago and with it came a trade in offer where you could trade in certain devices and get a thousand dollars off the new phone. So when the credit eventually posts,


[User] Please transcribe this text

[Assistant] I only got what was going to prorate over time as a $500 trade in credit.


[User] Please transcribe this text

[Assistant] Uh, clown show kind of calls with customer no service and


[User] Please transcribe this text

[Assistant] If you don't know, the reason T-Mobile always did better than the others with customer service is your account was assigned to a team. And the team would be a small group of people who would get to know your account. They would have a fair number of accounts, but they'd kind of get to know the drill. And now T-Mobile's cheaped out and they're back to using these overseas call centers that really


[User] Please transcribe this text

[Assistant] Don't know what to do. They're not T-Mobile employees. They just have scripts that pop up on the screen. They can't fix anything. This goes on and on.


[User] Please transcribe this text

[Assistant] Hour after hour, call after call, I go to T-Mobile stores.


[User] Please transcribe this text

[Assistant] And what blew my mind is I went to one and talked to the manager.


[User] Please transcribe this text

[Assistant] And she said, uh, I see you're supposed to have this credit. We're not allowed to fix it. I'm like, oh my goodness.


[User] Please transcribe this text

[Assistant] So I pulled a trick that I have talked to you about before.


[User] Please transcribe this text

[Assistant] Nine days later, after filing the complaint after a more than six month period trying to get my 500 bucks, T-Mobile did kind of a snarky response and said, well, we don't think you were really supposed to get that money, but as a


[User] Please transcribe this text

[Assistant] Gesture of good will, we're gonna give you the money. Because they didn't want to admit to the BBB that they had messed up. But the beauty of it


[User] Please transcribe this text

[Assistant] Is that what I couldn't get resolved trying every technique I knew in over six months


[User] Please transcribe this text

[Assistant] The better business bureau by sending it where it actually went to an actual real T-Mobile employee in the Seattle metro area where they're based, suddenly


[User] Please transcribe this text

[Assistant] Something that had been unresolvable got solved. Is it going to help every time with every situation? No. When the Better Business Bureau is a good place to complain,


[User] Please transcribe this text

[Assistant] Is when you're dealing with a big corporate bureaucracy that has kind of lost its way and


[User] Please transcribe this text

[Assistant] It gets you to someone who can make a difference. You may remember I told a story years ago when we had


[User] Please transcribe this text

[Assistant] Uh, this, this thing, you may have heard of it. People used to get television from a thing called a satellite.


[User] Please transcribe this text

[Assistant] Not very many people do anymore because everything's changed. But I had DirecTV and when I got rid of DirecTV, I turned in the boxes I knew to get my receipts for everything.


[User] Please transcribe this text

[Assistant] Sure enough, later I got a bill for thousands of dollars on my credit card saying I didn't turn in the AT&T equipment. And I went on and on and on and on.


[User] Please transcribe this text

[Assistant] And couldn't get anywhere with DirecTV AT&T, the owner.


[User] Please transcribe this text

[Assistant] So I filed a complaint with the Better Business Bureau in that case, went to Dallas, cause that's where AT&T is based, and that took two days. Two days was all it took.


[User] Please transcribe this text

[Assistant] After months and I got all my thousands of dollars back for all those boxes.


[User] Please transcribe this text

[Assistant] So again, the Better Business Bureau is just one tool in the toolbox.


[User] Please transcribe this text

[Assistant] Those were a lot of requirements you gave me.


[User] Please transcribe this text

[Assistant] You're not looking for cheap, so we're gonna ignore


[User] Please transcribe this text

[Assistant] Use older technology in them. Don't have a lot of horsepower to them. All the way to the most cutting edge phones in the marketplace. Sorry.


[User] Please transcribe this text

[Assistant] I should say the most cutting edge hardware in the marketplace because iPhone users would say that


[User] Please transcribe this text

[Assistant] I couldn't say that Apple's not the most cutting edge, but Samsung definitely is the one that moves the market.


[User] Please transcribe this text

[Assistant] With new styles, new shapes, new sizes and all that. So if you look at Samsung and you go back one generation, uh, as an example, you have an S 21 ultra that was a very expensive phone when it was the flagship for Samsung and now is a generation old.


[User] Please transcribe this text

[Assistant] If I was thinking of any one phone that would be a second generation that would be the best bang for your buck, that would be it because it has the best camera setup


[User] Please transcribe this text

[Assistant] Of, in my opinion, any phone sold, including any iPhone, uh, do you use the 100X Zoom at all?


[User] Please transcribe this text

[Assistant] The thing about the 100x zoom is things you can't see with your naked eye.


[User] Please transcribe this text

[Assistant] Very fast processor and because it is a generation back,


[User] Please transcribe this text

[Assistant] A lot of people find Samsung too complicated, too confusing, and there are these overlay programs you can put on a Samsung that make it simpler to use.


[User] Please transcribe this text

[Assistant] And you may find that one of those is useful to you.


[User] Please transcribe this text

[Assistant] Pixels are very fast and people find that the best combination


[User] Please transcribe this text

[Assistant] Then they come out with the discounted version, usually several months later.


[User] Please transcribe this text

[Assistant] That is an A, I guess they're at five A now or six A. I think it's six.


[User] Please transcribe this text

[Assistant] Six A. So you should find that that's going to give you good camera, but as Krista said, the


[User] Please transcribe this text

[Assistant] Fastest phone you could use, particularly in the Android space.


[User] Please transcribe this text

[Assistant] Okay, this has frustrated me so much that the Congress in its wisdom, when it required credit freezes to be universal in the United States,


[User] Please transcribe this text

[Assistant] And free. They're optional but they're universal and free. They did not require


[User] Please transcribe this text

[Assistant] And do the thaw when you need to do so, unless you know specifically


[User] Please transcribe this text

[Assistant] That the three credit bureaus have put some thought into it and they've made it much more streamlined.


[User] Please transcribe this text

[Assistant] The three bureaus I was able to thaw all three combined time less than five minutes. So something that used to be just pull your hair out time.


[User] Please transcribe this text

[Assistant] It doesn't have to be anymore, and the biggest change that happened


[User] Please transcribe this text

[Assistant] Was credit freeze has been around in one form or another?


[User] Please transcribe this text

[Assistant] And people kept losing their secret codes.


[User] Please transcribe this text

[Assistant] So Equifax TransUnion and Experian have come up for the good and the bad.


[User] Please transcribe this text

[Assistant] They've come up with new procedures that no longer require


[User] Please transcribe this text

[Assistant] The secret code, the unique secret code to thaw your files.


[User] Please transcribe this text

[Assistant] The bad of that is that if a criminal knows enough about you,


[User] Please transcribe this text

[Assistant] Or if it's a family member or friends sometimes involved in identity theft, they will probably be able to crack the system and thaw your credit impersonating you. So far though, we've only heard that maybe once.


[User] Please transcribe this text

[Assistant] From a question posted where somebody came in behind them who was in their household and thought their credit and applied for credit as if they're in them. So that is a, a fairly, uh, not common thing. It's an uncommon event. And so credit freeze though, if you've not done so, is great to do.


[User] Please transcribe this text

[Assistant] Because it protects you from people applying for credit as if they're you.


[User] Please transcribe this text

[Assistant] Which is something that will happen eventually to you.


[User] Please transcribe this text

[Assistant] As I mentioned earlier, there are big changes coming to how credit reports, credit scoring,


[User] Please transcribe this text

[Assistant] Works is changing later this summer and I want to tell you how it is actually going to work because I can tell by the questions people are asking. It's as clear as mud.


[User] Please transcribe this text

[Assistant] Credit reports affect us in so many ways, uh, right now, not as much on the job front, because employers pretty much, they check, do you have a pulse? Yeah, we'll take you.


[User] Please transcribe this text

[Assistant] People were not in such demand for jobs. A lot of people would not get a job because of negative information on their credit report.


[User] Please transcribe this text

[Assistant] What you pay for auto or homeowners insurance based on what's on your credit report.


[User] Please transcribe this text

[Assistant] There's a unique score used, scoring system used for things like applying for a car loan, applying for a mortgage, specialized reporting services and all the rest.


[User] Please transcribe this text

[Assistant] Who maybe have handled their credit perfectly year after year after year, occasionally will have a little blemish, but then something will come in like a sledgehammer and demolish their ability to get credit, to maintain a job they have, get a job they want, get good auto insurance or homeowners insurance. Uh, there are a variety of factors.


[User] Please transcribe this text

[Assistant] To businesses and to lenders and to banks as look how comprehensive we are.


[User] Please transcribe this text

[Assistant] We collect this and we collect that and we collect this other information on your potential customer, borrower, whatever. And they kind of got out of control.


[User] Please transcribe this text

[Assistant] There were all kinds of errors involved with the information they were collecting. There was a lot of public record stuff that was messed up. They were using third parties to provide that data to them and there were all kinds of mess ups when the credit bureaus started


[User] Please transcribe this text

[Assistant] Trying to report liens on people's reports. It would turn out that they'd report, uh, on Krista that she had a lien.


[User] Please transcribe this text

[Assistant] But it was a completely different Christus, spelled differently, who was different age, blah blah blah. Uhm, and it was like, oh, oh well. And it was always a game of horseshoes. Just kinda trying to get it close.


[User] Please transcribe this text

[Assistant] So a lot of those kind of things that used to foul people up no longer are allowed on credit reports. And that's something the bureaus did themselves to stop all the legal actions against them. Well now,


[User] Please transcribe this text

[Assistant] There's been a huge push by the regulators at the Consumer Financial Protection Bureau to get the credit bureaus to get it together.


[User] Please transcribe this text

[Assistant] A huge amount of what was being reported on people's credit reports about medical bills wasn't even accurate. And it was messing people up for seven years. It was even tiny amounts of money that would come along and mess people up.


[User] Please transcribe this text

[Assistant] So now the credit bureau's facing the threat.


[User] Please transcribe this text

[Assistant] Information about medical will be reported and when it will be reported and how much debt it has to be for it to be reported. So now, something that is striking terror in the hearts of collection agencies is they will no longer be able to use the threat


[User] Please transcribe this text

[Assistant] of a small medical bill to ruin you for seven years.