Is it OK to Have a Car Payment? & How To Avoid an Auto Loan

Summary

Frugal Friends Podcast – Episode: Is it OK to Have a Car Payment? & How To Avoid an Auto Loan

Release Date: May 9, 2025
Hosts: Jen Smith & Jill Sirianni
Produced by iHeartPodcasts

---

Introduction

In this insightful episode of the Frugal Friends Podcast, hosts Jen Smith and Jill Sirianni delve into the nuanced topic of car payments and auto loans. Replaying a popular episode from a few years prior, Jen and Jill share their personal experiences with auto loans, offering listeners valuable perspectives on managing transportation costs without falling into debt traps.

When an Auto Loan Is a Bad Idea

Understanding Affordability
Jen emphasizes the importance of assessing whether you can truly afford the car you're eyeing. "If you absolutely know this is not going to be a car that is within my lifestyle way of affording things, then don't go with that one," she advises (09:39).

High Interest Rates and Long-Term Loans
Jill highlights that high interest rates can make auto loans financially burdensome. "Interest rates are much higher than they used to be," she notes, suggesting that loans under 5% are preferable to avoid overpaying in interest (12:16). Additionally, lengthy loan terms (beyond five years) can lead to paying significantly more over time due to accumulated interest.

Total Cost of Ownership
Both hosts stress the importance of considering the total cost of owning a vehicle, not just the monthly payment. This includes expenses like gas, insurance, registration, and maintenance. "You need to be looking at the total cost of the car, not just the monthly," Jen reiterates (12:40).

When an Auto Loan Might Be a Good Idea

Building Credit
Jen briefly touches on the idea of using auto loans to diversify credit history, though she expresses some hesitation. "Do not take out an auto loan for the credit portion of it. Take it out because you want to have that money allocated for something else," she advises (17:55).

Strategic Down Payments
Jill suggests that making a substantial down payment can reduce the amount borrowed, thereby lowering the overall interest and making the loan more manageable. "Putting a decent amount of cash down reduces the amount of the loan that you have to take out," she explains (18:08).

Financing Deals
Jen mentions that taking advantage of promotional financing deals, especially for new cars, can be beneficial. "If you have the cash reserves but need them for something else besides putting them all into a car, that's a smart move," she states (23:15).

Tips on How to Avoid Auto Loan Debt

1. Do Thorough Research

   • Compare Prices and Specs: Jill emphasizes researching different dealerships and comparing prices across the board. "Compare specs and pricing... know what you can expect to pay," she advises (30:35).
   • Use Resources Like TrueCar: Jen recommends using tools like TrueCar to understand dealer fees and negotiate effectively. "There are dealers with transparent pricing where you don't have to deal with hidden fees," she shares (31:49).

2. Secure Pre-Approval

   • Explore Financing Options: Jen highlights the advantage of getting pre-approved for a loan through credit unions, which often offer better rates. "Credit unions will be offering the best terms for a car," she explains (33:48).

3. Opt for Used or Certified Pre-Owned Cars

   • Minimize Depreciation Impact: Buying a used car can help avoid the steep depreciation associated with new cars. "Buy a certified pre-owned car that feels brand new without the high price tag," Jill recommends (34:22).

4. Limit Loan Terms

   • Shorter Loan Durations: Jen advises keeping loan terms to three or four years to minimize interest payments. "Avoid loan terms that exceed five years," she states (35:24).

5. Plan for Early Repayment

   • Pay Off Loans Quickly: Jill suggests strategies like making lump-sum payments or refinancing to pay off loans faster if possible (36:10).

Personal Stories and Experiences

Jen’s Negotiation Challenge
Jen shares a personal anecdote about nearly falling into the sunk cost bias while negotiating for a van she desired. After spending an hour and a half negotiating, she realized she was about to pay $4,000 more than an almost identical alternative. Recognizing the bias, she decided to walk away, saving herself a substantial sum (45:54). This experience underscores the importance of self-awareness and seeking objective opinions during major financial decisions.

Jill’s Advocacy for Research
Jill recounts her own journey from purchasing vehicles with cash to navigating the complexities of auto loans. She emphasizes the necessity of thorough research and understanding specific vehicle histories to avoid costly mistakes (55:08).

Key Takeaways and Conclusions

• Assess Affordability: Ensure that both the monthly payments and the overall cost of owning a car fit within your financial lifestyle.

• Prioritize Total Cost: Look beyond monthly payments to include all associated expenses of vehicle ownership.

• Research Extensively: Utilize online resources and tools to compare prices, fees, and vehicle histories to make informed decisions.

• Consider Financing Wisely: Opt for pre-approved loans from credit unions and aim for shorter loan terms to minimize interest payments.

• Be Aware of Psychological Biases: Recognize tendencies like sunk cost bias that can lead to overspending and make decisions based on complete financial analysis rather than emotions.

Jen and Jill conclude by reiterating the importance of personalized financial decisions, acknowledging that what works for one individual may not suit another. They encourage listeners to remain flexible and creative in their financial strategies, ensuring that transportation choices align with broader financial goals.

Notable Quotes:

• Jen: "If you absolutely know this is not going to be a car that is within my lifestyle way of affording things, then don't go with that one." (09:39)

• Jill: "Interest rates are much higher than they used to be. So this has become a kind of loan where you do want to focus on paying it off fairly quickly." (12:16)

• Jen: "You need to be looking at the total cost of the car, not just the monthly." (12:40)

• Jill: "Compare specs and pricing... know what you can expect to pay." (30:35)

• Jen: "Credit unions will be offering the best terms for a car." (33:48)

• Jill: "Putting a decent amount of cash down reduces the amount of the loan that you have to take out." (18:08)

• Jen: "Avoid loan terms that exceed five years." (35:24)

• Jen: "I'm so confident in the chapters I wrote in the book. Buying it will help me afford to live another year." (05:45)

Final Thoughts

This episode serves as a comprehensive guide for anyone contemplating an auto loan or seeking to avoid unnecessary car-related debt. Through a blend of personal experiences, expert advice, and actionable tips, Jen and Jill equip listeners with the knowledge to make informed and financially sound decisions regarding their transportation needs.

---

For more insights on personal finance, debt management, and frugality, subscribe to the Frugal Friends Podcast on your favorite podcast platform.

Transcript

[Narrator]

You're listening to an iHeart podcast.

[Jen]

This message is brought to you by Apple Card.

[Jill]

Apply for Apple Card today and start earning up to 3% daily cash back on everyday purchases.

[Jen]

And that daily cash can even grow automatically when you open a High Yield savings account through Apple Card.

[Jill]

What are you waiting for? Visit Apple Co CardCalculator today to see how much daily cash you can earn.

[Jen]

Subject to credit approval Savings available to Apple Card owners subject to eligibility Savings Savings in Apple Card by Goldman Sachs Bank USA member FDIC terms and [e-mail].

[Narrator]

You ever tried fixing your car and realize you're missing that one part? Yeah, been there. That's why ebay's my go to. They've got millions of parts guaranteed to fit. I'm talking brake pads for when yours have seen one too many miles of stop and go oil filters cause you don't mess around with your engine care. Even got this cold air intake on my watch list. I might just go for it to keep the ride cool and your DIY streak hot. Find all the parts you need at prices you'll love. Guaranteed to fit every time Ebay Things people people love Eligible Items Only Exclusion Supply Are you still quoting 30 year old movies? Have you said cool beans in the past 90 days? Do you think Discover isn't widely accepted? If this sounds like you, you're stuck in the past. Discover is accepted at 99% of places that take credit cards nationwide and every time you make a purchase with your card, you automatically earn cash back. Welcome to the now it pays to Discover. Learn [e-mail] credit card based on the February 2024 Nielsen report. Lowes knows a thriving yard starts with quality care right now. Get Miracle grow 3/4 cubic foot all purpose garden soil for just $2 was $4.58 plus get a free select EGO 56 volt trimmer or blower with the purchase of a select EGO 56 volt mower. The best yard starts with the best deals Lowe's we help you Save. Valid through 514. Excludes Alaska and Hawaii. Selection varies by location while supplies last.

[Jen]

Is it okay to have a car payment and how to avoid an auto loan.

[Narrator]

Welcome to the Frugal Friends Podcast where you'll learn to save money, embrace simplicity and live a richer life. Here are your hosts, Jen and Jill.

[Jen]

Welcome to the Frugal Friends Podcast. My name is Jen. My name is Jill and today we are replaying an episode that was very popular several years ago and that we think is super important because Jill and I while we both paid off a lot of debt, we then both acquired car payments for different reasons and we still have those. I think it's been two years since this episode aired and we are still same. Everything we said aged well and we still believe it.

[Jill]

Yeah, I mean this was a pretty pivotal episode for me because in the past, and you'll hear this, me say this, but I've always bought used for cash and the world changed and my perspective needed to change. And I think that's what happens to us as we move through life. Not holding so rigidly to certain ideas about money, specifically debt, giving ourselves permission to understand the financial choices that we're making so that we can feel good about them and make them guilt free because we believe debt is neutral. And this is one of those episodes that's going to underscore that for you.

[Jen]

And as tariffs loom, we are not sure how they'll take effect. If they'll take effect. What One of the industries they would possibly impact are cars. And so I think it's very start now to learn about what you will need going into your next car purchase. If you're going to be taking out a loan, which 99% of people will and honestly should.

[Jill]

Okay, but first, this episode is brought to you by Jen's birthday. Woo woo woo woo.

[Jen]

Today is my birthday. Not the day we're recording this, but the day this airs.

[Jill]

Happy birthday, Jennifer. So she's older, she's wiser, she's more beautiful and she's more sure of herself. That's right, folks. Confidence comes with age and really just generally not caring that much what other people think about you.

[Jen]

So there's one thing they say about me, it's that I don't care.

[Jill]

Welcome to almost 40. Like how good the chapters are in the book she wrote. She's so confident and sure of herself about that. Buy what you love without going broke. We both wrote it, but she loves what she wrote. And I must admit they are good. They're good chapters if you want to see for yourself and help Jen afford her life until her next birthday, get your copy at buywhatyoulovebook.

[Jen]

Com. This is so true.

[Jill]

Happy birthday, Jen.

[Jen]

Oh, wow. Yeah, I am confident. I am very confident in the chapters I wrote in the book. Book and buying it will help me afford to live another year. Yeah, this is so this is the best gift that you can give me is getting, I mean getting our, our spending planner for yourself or getting a copy of Buy what yout Love without going broke. It Supports me on my birthday and helps you achieve your goals in your life. And really, that's the best gift for me is you achieving your goals. But that doesn't pay my bills.

[Jill]

Yeah. And just. Yeah. And just supporting Jen and her goals.

[Jen]

Yeah. Support me and my goals of. I don't know. They change every year. Sleeping through the night. Sleeping through the night. I woke up four times last night.

[Jill]

Oh, no. Jen.

[Jen]

Two for the dog and two for.

[Jill]

No, it's too much.

[Jen]

The five year old.

[Jill]

It's too much.

[Jen]

Okay, but let's get into what this episode's really about. I'm so sorry. It's about transportation. So we have a couple other episodes that you really should cue up to listen to after this one. The first is a recent episode. You just have to go back like 20 episodes or something. That's ridiculous. Or math. It's 15. I'm so sorry. Commuting with an E bike in any weather with Kevin. Ha. This was not a widely downloaded episode for obvious reasons. It's not saving money on groceries. I think everyone should listen to it though. I think everyone should listen to this episode because moving away from a car could be will save you more money than getting a better rate on a car loan.

[Jill]

Let us tickle your brain with that episode. You know that episode? You might not think it's for you, but just let yourself be tickled.

[Jen]

It'll save you more money than anything we say on this episode will. So let that be enticing for you. And then also save money on your next car purchase with the car chick. That was episode 233, but you can just search the car chick. Frugal Friends. And that episode should come up a lot of car buying tips. It's post Covid so the car tips are still really relevant.

[Jill]

Okay, let's get into this one. So this first article comes from Bankrate and is titled what to know about Auto Loan Debt. And I just even appreciate the title because it is not making a good or bad statement about auto loan debt, which is a great place to start to just remove the shame from it. What is a good decision for one person may not be a great decision for another. And so we just want all the information to make the best decisions for ourselves. What this article goes through, and we will go through it with you all, is when an auto loan is not a great idea and when an auto loan might be a good idea. So kind of looking at it from both sides. So first off, when an auto loan is a bad idea is if you can't afford the car.

[Jen]

Yes. And this isn't just like, we don't imagine that most of our listeners are going out there and looking at the teslas and the BMWs and the Cadillacs. We know that's probably not you if you're listening to this show, but it doesn't mean, even if you're looking at the Toyotas, the Hondas, it doesn't mean that you can afford every single one. And this is specifically for new cars. There's been a lot of like recently. So one of the changes was, is for a time used cars were about the same price as new cars. And so everyone was like, just buy new. Just buy new. Just buy new. It's not that case anymore. And people are still saying that because Jill and I both have bought cars from dealers. I just bought one last month. Jill, yours was just like a year ago. So we have heard all of these things and you're still going to be paying that. It's back to where you're going to be paying that. That instant depreciation when you drive it off the lot and it loses two grand.

[Jill]

Yeah, yeah. I think there can be people who get caught up in only looking at the monthly payment versus the overall sticker price of a car. And I think that can push us outside of our budget if we're only looking at the monthly payment versus the overall cost. And reality is, is if the, if it has a high sticker price, you're going to be paying even more that if you're taking out a loan for and what you're going to pay in interest, potentially how long you end up paying off that loan. So first look at the overall cost and if it causes just like a deep sinking pit in your stomach, I mean, really, all cars probably will do that. But if you absolutely know this is not going to be a car that is within my lifestyle way of affording things, then don't go with that one. Don't allow the monthly payment to push you into a car that you wouldn't otherwise choose. But then from there, yes, make sure that the monthly payment is something that you can afford.

[Jen]

And so Experian says that the average monthly payment, which is Experian, is the credit bureau that a lot of car dealerships will use. So they know, they know what everybody's car payment is. And for new cars it's around 700 and for used cars it's about 525. And actually asked when we bought our car, what is the average that people finance? And he said it was about 700.

[Jill]

So this, a lot like that is inching close to rent. I mean, obviously rent is way more than that. But like this, then potentially could be your second biggest expense in what might have used to be the third or fourth biggest expense for people.

[Jen]

Yeah. And that's where we are. That's. Yeah, it's definitely the climate that we are in right now. So we don't want to say it can be like it was in 2018, but you don't have to relegate yourself to that $700 payment just because that's what's average. You also don't want to just take out a clunker. I see a lot of people kind of saying the opposite to just buy a quote unquote clunker, which don't really exist anymore since the Cash for Clunkers program started, what, like decades ago? So. And then, you know, so you don't go into debt. But that's also not a wise decision for most people.

[Jill]

Well, you also want to consider the other costs of owning the vehicle. How much are you going to be paying in gas, Monthly insurance, registration renewals. If you, if you live in a state that requires emissions and inspection, that's on top of your monthly auto loan payment. So that is huge to be keeping in mind when you're making decisions and signing papers.

[Jen]

Yeah. So you need to be looking at the total cost of the car, not just the monthly. The next is. It's not a good idea if the interest rate is too high. The interest rates for auto loans, they used to be so reasonable. So reasonable. And now they're quite high. So we would typically say that any loan under 5%, you don't have to set your pants on fire paying off because you can get more in the stock market. That's general wisdom. And it is hard to get that now, even with an excellent credit score of 800, you cannot get less than a 5% interest rate on a loan. I know this. I know this. So it has shifted a bit. So the interest rates are much higher than they used to be. But. So this has become a kind of loan where you do want to focus on paying it off fairly quickly. It is. It will be probably a priority even over some student loans. If you're paying off debt and you have to get a car loan, you may have to pause other loan payoffs to focus on this one. But it doesn't. Again, it doesn't mean you have to put everything on hold and stash cash to pay cash for a car. It doesn't mean that either. Yeah, that just means that it will shift some things for you. But one of the ways you can lower that interest rate is to lower the number of months. So the three shortest terms tend to be about the same interest rate. So you don't have to take the shortest, but taking a shorter term and putting more down. So pausing other savings goals to stack up some cash to put as much down as possible.

[Jill]

Yeah. The final reason that they state for why an auto loan might be a bad idea or when it's not the best option is if you're going to be stuck with a long term loan. So like Jen's saying, often car loan terms are between 36 to 84 months. That 84 months obviously being way longer, which some might opt for because it makes the monthly payments more affordable. But the catch is you're paying far more in interest and at a higher rate. Yeah, you're extending the life of that loan. So that's another thing to keep in mind. As much as you can minimize the length of the loan, getting the best interest rate possible, these are the things that are gonna help make an auto loan be a better, more wise decision and just things to be wary of. When in the car buy situation circumstance really.

[Jen]

If you can't afford the payment at 48 months or less, then you need to be looking at a less expensive car. So 48 months is four years. We all want to say, oh, I'm going to keep this car for I'm going to drive it into the ground. You don't know that. You really can't plan to do it. Plan to keep it for five years. If you keep it longer than that is a financial gain, that is a financial success. But if you keep it for less because of an accident or because your family grows or you move somewhere, I don't know, then it is not that much of a financial loss. So really you need to be able to afford everything at 36 or 48 months. So when to get an auto loan? So if you want to build more credit, one of the parts, there are several parts of a credit score and one of them is credit diversity and an auto loan. If you just have like a credit card and student loan, your, you know, Experian won't say you're very diverse. But if you add a mortgage and an auto loan, then it says you've got a diverse credit history. It's not a big part of your credit score. So I don't 100% agree. It says it accounts for 35% of your credit score. Sorry, no, it's saying on time payments account for 35%. I was like that's way more on time payments are what's going to improve your credit score no matter what they are. So I would say do not take out an auto loan for the credit portion of it. Take it out because you want to have that money allocated for something else. And it is more financially beneficial for you to take out more of a loan than it is to use your cash for that. Now if you're using your. If you take out a loan so you have more cash every month to buy lattes and shoes and those aren't your highest priority things. That's not the reason to get out a car loan. But yeah, I wouldn't do it for the credit reasons.

[Jill]

The next reason that an auto loan could be a decent idea or a way to make an auto loan more advantageous for us, the purchaser is when we're putting down a hefty down payment, they reference that it's not going to be a great idea to use up deplete all of your savings, especially if it's not a true emergency just to circumvent monthly car payments or interest rates. Your better off just making a hefty down payment, putting a significant amount down on the car to reduce the amount of the auto loan that you need to take out and then being able to keep some of that cash on hand for the other unexpected emergencies. This is one of the things that I was saying was so difficult for me to kind of overcome in my mind when I realized the car buying situation is different than it had been for the majority of my adult life. I am so accustomed to paying cash in someone's backyard for their used vehicle. Just kind of a private sale person to person. We found it on Facebook Marketplace and we could walk away with a car between 6 to $12,000. And that was a reasonable amount to pay in cash. Those days are over. And this hurts to say unless you're.

[Jen]

Unless you're okay getting a car that's like 10 plus years old. Like that would be very. Yeah, it's even still the amount of.

[Jill]

Money that you still have to pay versus what it's actually worth and how long that car is going to last you. So then it was okay, but am I willing to pay now $30,000 even for a pre owned vehicle? And then I started to face the reality that that's not a great idea to do if I have $30,000 of cash. Assuming we are not independently wealthy if you've got stacks on stacks, then sure, fine, do whatever you want. With 30k, that probably feels like chump change. But for someone like me who makes a very average salary household income, If I have $30,000 stacked away, that's not going to be the best use of that just to avoid a monthly car payment. So I really had to reorient myself. Similar with our renovations. Like there comes a point where it makes sense to cash flow and then there comes a point where it makes sense to borrow money. This is just like my realization and hot take. Especially when it comes to investing and saving for retirement, our money can go further. Especially for us medium income earners. We need more time to save for retirement versus shoving all of our money away. There's definitely emotional decisions at play here too, and you're going to need to make your own decisions for what's going to make sense for you. But this was the big thing for us of okay, it's just not. Even if we had it, this would not be a great idea to put all of that money towards a new vehicle. But the workaround for us, just like this article is suggesting, was putting a decent amount of cash down so that the amount of the loan that we had to take out was significantly less.

[Jen]

Yeah, I totally agree. It is a different landscape and it is not as bad as what it was a year and a half ago. So we have to get out of that to that like kind of despair that, you know, we're just gonna have to spend 30, 40 grand on a car that's just what it's gonna cost. No, because I was just in there last month and got a three year old minivan. Like great stuff for 25. So it is a choice ultimately. Did I have to get the kind of car I want? Could I gotten a sedan for less? Yes. But also I wanted the doors that open automatically with a button, you know, so there it is. This is a super personal decision that.

[Jill]

I think we have to weigh all of our other life circumstances up against. What is the reason for purchasing a new car? What do the rest of your finances look like? What are your other big goals to do with your money in the next few years? Like all of the answers to those questions are going to shift it for each person. You know, for us, we were in an emergency situation, we had one vehicle, that vehicle's brakes went out. Like, what to do now? So. And for others it might be, well, yeah, I don't love the landscape and I could wait another one to two years and stash up even more cash for this to pay down, you know, whatever the auto loan might be. So lots of different directions we could go. I think the biggest thing I want to highlight with this is being aware of these pros and cons that this article is highlighting when it's not a great idea, when it could be a great idea and how we can make the most of that situation.

[Jen]

Yeah, the last thing on this list on when to get a loan is when there's a deal on financing and that's mostly for new cars. So I'm not going to, I never will probably recommend a new car for anybody and that's just personal. There are some people that a new car is a high value for them and they will pay that. And so if that is you then finding deals on financing, especially at the end of the year, they have some good deals that that could be useful to you. But I would say the best thing on this list is when you have the cash reserves but you need them for something else besides putting them all into a car. Especially if, I mean in this kind, in this, I don't, I hate saying like in this economy, but it's a good, it's a better idea to have your money in your bank and have a car payment than have all your money tied into a car and like no money in savings except for your, you know, 2 to 5 grand in an emergency fund. That's not a smart move. So I think that's the best reason to get an auto loan. And so yeah, now we're going to head into our second article.

[Jill]

Yes.

[Jen]

So this next one is how to.

[Jill]

This message is brought to you by Apple Card.

[Jen]

Whoa. I just found out you can earn up to 3% daily cash back on everyday purchases made with Apple Card.

[Jill]

Yeah, you can earn more unlimited daily cash back with Apple Card on every purchase. No matter where you check out with Apple pay, you always get daily cash.

[Jen]

The possibilities are endless.

[Jill]

What's better is that daily cash can automatically grow when you open a high Yield savings account through Apple Card.

[Jen]

That's like endless plus one.

[Jill]

Visit Apple Co cardcalculator today and discover just how much daily cash you can earn.

[Jen]

Subject to credit approval Savings available to Apple Card owners Subject to eligibility savings and Apple Card by Goldman Sachs Bank USA member FDIC terms and more at applecard.com Ryan Reynolds here from Mint Mobile. I don't know if you knew this but anyone can get the same Premium Wireless for $15 a month plan that I've been enjoying. It's not just for celebrities.

[Narrator]

So do like I did and have.

[Jill]

One of your assistant's assistants switch you.

[Jen]

To Mint Mobile today.

[Narrator]

I'm told it's super easy to [e-mail].

[Jill]

Switch upfront payment of $45 for 3 month plan equivalent to $15 per month.

[Jen]

Required intro rate first 3 months only, then plan options available, Taxes and fees extra fee full [e-mail] Are you still.

[Narrator]

Quoting 30 year old movies? Have you said cool beans in the past 90 days? Do you think Discover isn't widely accepted? If this sounds like you, you're stuck in the past. Discover is accepted at 99% of places that take credit cards nationwide and every time you make a purchase with your card, you automatically earn cash back. Welcome to the now it pays to Discover. Learn [e-mail] credit card based on the February 2024 Nielsen report, Trust isn't just earned, it's demanded. Whether you're a startup founder navigating your first audit or a seasoned security professional scaling your GRC program, proving your commitment to security has never been more critical or more complex. That's where Vanta comes in. Businesses use Vanta to establish trust by automating compliance needs over 35 frameworks like SOC2 and ISO 27001, centralized security workflows, complete questionnaires up to five times faster, and proactively manage vendor risk. Vanta can help you start or scale your security program by connecting you with auditors and experts to conduct your audit and set up your security program quickly. Plus, with automation and AI throughout the platform, Vanta gives you time back so you can focus on building your company. Join over 9,000 global companies like Atlassian, Quora and Factory who use Vanta to manage risk and prove security in real time. For a limited time, our audience gets $1,000 off [e-mail] special. That's V A N T A dot com special for $1,000 off.

[Jen]

Avoid taking on too much car loan debt and I don't know if you could have inferred it from the first article, but both Jill and I have auto loans. We'll let the cats out of the bag open. We're starting the lightning round early. Getting vulnerable. We both have them. Yeah, so that does not mean that we love debt, contrary to popular belief.

[Jill]

Or that we're telling you to get an auto loan. If you can find a workaround, go for it. But we also want to help create permission for this because it's different times, friends, and this just might be the reality of what needs to Happen if we're not living in a city where we can take public transportation, or you're.

[Jen]

In your early 20s and you can afford that 15 year old sedan and that's good for you, then that's great. When you are at different stages of your life, different things become priorities and you follow those. So what's right for me may not be right for you, but just because one person says something is gospel doesn't mean that it is. You gotta take with a grain of salt where it's coming from. And so we don't wanna do that. We really want to just talk about ways to get creative no matter what situation you're in.

[Jill]

So this article comes from Finder and they say how to avoid car loan debt or most of it really is like how to not take on too much car loan debt. They also talk about how to pay off your loan faster, what some of the benefits of a car loan can be, what to watch out for. So it's definitely chock full of some helpful things. I would recommend checking it out if you are currently in this process. We're just going to go over some of the bigger highlights of it. The first thing that stood out to me under the category of how to avoid too much debt is to do your research. So knowing the type of vehicle that you want and then spending a decent amount of time on the Internet and in talking with people to compare specs and pricing, of course the Internet's going to give you the most information as far as what to expect with pricing. What is that same year with that type of vehicle, with all the different specs, the type of engine that it has, all of those things. And what can I expect for pricing? Like you'd be surprised if you haven't done this recently. How much it can vary from dealer to dealer, what they are selling that same type of vehicle for. So that's just some basic information that can help you to avoid getting hosed on some of the pricing to have a really good idea for what can I expect to pay. What would be a reasonable amount of money for this type of car?

[Jen]

Yeah, and I would say pay specific attention to fees. So I used TrueCar and I was able to inquire about pricing on cars and then get a breakdown of car fees, you know, dealer fees, et cetera. And there are some dealers and I'm going to get more into this in the lightning round. Don't you worry. I have a story. So there are some dealers that will just charge their dealer fee and it's 1000 bucks and you can't get away from that. That's something. All other fees are negotiable. And if they won't negotiate them with you, you can go to another dealer with more transparent pricing. And you should, because there are enough dealers out there today that have caught on and are just charging their transparent price plus their dealer fee and they're being open about it. There are enough of those dealers where you can go buy from them. You don't have to be subject to these dealers that are still charging like 15 different fees that mark the price of your car.

[Jill]

If time is on your side, I would recommend taking a couple of weekends to shop around, to test drive, to research, to compare and not just, just making impulsive massive car decision.

[Jen]

Yes, absolutely. So the, the next one on this list is, that I will talk about is to compare your financing options. So it behooves you to get pre approved for an auto loan before you go in. You don't have to have the car. I would say take whatever your budget is and add ten grand to it and just get pre approved for that. Not saying that you should expect to pay ten grand over budget. I'm just saying like get pre approved for it. Because credit unions will be offering the best terms for a car. So if you're not a member of a credit union, now is the time to join one. And I would, I would call the dealers that have cars that you're interested and ask them what credit union they have like a direct relationship with. So when we went in, we were actually lucky enough that the credit union that we use regularly is the credit union that these dealers had. The two dealers that we checked out had a direct relationship with. So we were able to, I was already a member, we were able to do the financing right in there. I got pre approved through the credit union. But it was was easier just to take out that same credit union loan with the dealer. It's the same loan. It's just I didn't have to get a check from the credit union and bring it in sort of thing. So. But they honored the rate that I got and they actually honored the new car rate that I was approved for. Yeah. Instead of the used car rate. Used car rates are usually higher, so that was really, really great.

[Jill]

Oh, that's cool.

[Jen]

Yeah. So definitely do your research about credit unions. Become a member at your local one, the one that has the best rates currently on used cars. And they will typically when you go in there, even if it's not the same credit union or the same bank, they will honor the interest rate on that term with any other thing because they want your business and they want to do the financing in house. They want to get it done right then and there. So they're going to honor whatever you've been pre approved for.

[Jill]

Yeah. The other way, obviously to avoid taking on too much debt with a car is considering the less expensive car option or used cars. Just like Jen already said, we will recommend used, certified, pre owned, whatever you want to call it, where you're not immediately experiencing the impact of it depreciating. When you buy brand new and drive it off the lot and it loses $10,000 worth of value, you don't need that. But of course make your own decisions. But if you're wanting to look at how can I reduce this cost as much as possible, the vehicle without all the bells and whistles, the vehicle that's been used and you can find some great ones, it doesn't mean that you're buying a super old. There's plenty of people out there who lease vehicles for a couple of years, hardly put any miles on it, and suddenly it's a pre owned car that feels brand new to you.

[Jen]

Yeah, exactly. So the other ones on here kind of reiterate what we were talking about. So avoid spending more than you can afford. This one says avoid loan terms that exceed five years. I go with four because I'm more conservative. Usually the three and four year terms are to have the same interest rate. So double check it though. If you can get a lower interest rate with a 36, you want to go with that one even though it's a higher monthly payment. But if they're the same, you need to at least be able to afford the four year one. And sometimes even when we were in there, three, four and five were the same. It was when you went above five that the interest rate increased.

[Jill]

And if you do happen to need to take on a loan that does have a little bit higher of an interest rate, then paying off the loan faster is still an option for you. Even if you signed paperwork for a four to seven year loan, that doesn't mean that you can't pay it off sooner as you come across the room in your budget to be able to do that. Of course making that sizable down payment is going to really help. Looking at when you can make lump sum extra payments to it, even tacking on a little bit each month or breaking your monthly payment down into two times a month can also help to pay down the principal of the loan, even Looking at refinancing once you're in a different place can be a really great idea to see. Okay, if interest rates are shifting then it could be worth your while to refinance for a lower interest rate.

[Jen]

Yeah. Credit unions can also refinance auto loans to get that rate down. So maybe you're making payments for a year and your credit increases. Maybe, fingers crossed, maybe rates decrease, I don't know. So if the stars align and you're able to refinance, then definitely try to do that. But I think you are going to get the most bang for your savings buck by going with a car that you can afford the three or four year payment. So just basically getting a less expensive car. Is that going to take more time to find? Yes. Are they out there? Absolutely. Absolutely. It does not have to be and be flexible. Like don't. You don't have to get like a junker to be flexible. That is something that I learned because really for me, when we were shopping, for me it was like top of the line. And for Travis it was bottom of the line. And we really had to come together.

[Jill]

Find that radical middle.

[Jen]

We really had to find that radical middle. And it ended up in an affordable vehicle that had 95% of what I wanted. And I'm very, very happy with that, with the loan.

[Jill]

Do you know what has 120% of what I want? And I'm happy with all the time, always and forever.

[Jen]

Oh my gosh. Would finance till the day I die if I needed to, but would never have to.

[Jill]

The bill of the week.

[Narrator]

That's right. It's time for the best minute of your entire week. Maybe a baby was born and his name is William. Maybe you paid off your mortgage, maybe your car died and you're happy to not have to pay that bill anymore. Duck Bills. Buffalo Bills. Bill Clinton. This is the bill of the week.

[Jen]

Hi Jen and Jill. This is Amanda calling from New Brunswick on the east coast of Canada. And I just practice submit on my final bill for my Capital One MasterCard, I paid off over 7, $500 in six months. And today is the beginning of January 2023. And I did it. I'm so excited. Thank you for all of your help and I have just changed my life. Thank you so much. Bye. Oh, Yay, Amanda. Congratulations. That 7,500 in six months, that is insane. And that credit card debt is the debt to get out of there. That's the debt to get out like your pants are on fire.

[Jill]

That's over $1,000. That you threw at this credit card debt. And well done, Amanda. And I'm glad that you chose to celebrate with us in the bill of the week.

[Jen]

Yes, I love it. I love it so, so much.

[Jill]

Thanks, Amanda from New Brunswick. If you all listening happen to be another Canadian listener or, you know, you're just from the United States or any other country. Ooh, we love it. We love it when you call from all over the world or outer space. That'd be fun if you happen to pay off debt or lower a bill or you're happy about a bill that you paid. Or you know me, your name is Bill. Visit frugalfriendspodcast.com Bill, leave us your bill. We're here for it and for you. And now it's time for looking to save even more money on your phone bill. How does free sound? Helium Mobile is offering the first free phone plan. That's right. Free phone service. Seriously. No bill, no contract, just free.

[Jen]

It's not just some limited time deal. You get nationwide 5G coverage with 3 gigabytes of data, 300 texts and 100 minutes of calls. If you need more data, you can upgrade to their other plans. Plus, you're supporting a community built network that's growing every day to keep you seamlessly connected wherever you go.

[Jill]

When we first heard about Helium Mobile, we couldn't wait to share it with all our frugal listeners who are looking to budget smarter when it comes to everyday necessities without sacrificing quality.

[Jen]

So if you're in the market to cut that monthly phone bill, like really cut it, Helium Mobile is where it's at. Download the Helium Mobile app today and use the code Frugal to get your free plan today.

[Narrator]

Are you still quoting 30 year old movies? Have you said cool beans in the past 90 days? Do you think Discover isn't widely accepted? If this sounds like you, you're stuck in the past. Discover is accepted at 99% of places that take credit cards nationwide. And every time you make a purchase with your card, you automatically earn cash back. Welcome to the now it pays to Discover. Learn [e-mail] credit card based on the February 2024 Nielsen report.

[D]

So you want to start a business? You might think you need a team of people and fancy tech skills, but listen to me when I say you don't. You just need Godaddy Arrow. I'm Walton Goggins, an actor and I like the sound of starting my own business. Walton Goggins goggle glasses. But I couldn't do this on my own GoDaddy arrow uses AI to create everything you need to grow a business. It'll make you a unique logo, it'll create a custom website, it'll write social posts for you and even set you up with a social media calendar. How cool is that? Well, listen to this. For a limited time, you can get Arrow all access for just a dollar a week for 12 weeks. We're talking all the AI power of GoDaddy arrow plus a domain E commerce store, payments, professional email, a unified inbox. All for less money than I spend on deep tanning lotion while sunbathing off the Amalfi coast. You know what? That sounds like a plan. Get [e-mail] terms apply.

[Narrator]

Not everyone who handles your personal information is going to be as careful as you are. And it only takes one mistake to expose it to hackers and identity theft. Maybe that's why there's a new victim of identity theft every five seconds in the United States. Fortunately, there's Lifelock. Lifelock monitors hundreds of millions of data points a second for threats to your identity. If your identity is stolen, a LifeLock US based restoration specialist will help solve identity theft issues on your behalf, guaranteed or your money back. Plus, all Lifelock plans are backed by the million dollar protection package, meaning LifeLock will reimburse you up to the limits of your plan if you lose money due to identity theft. You can't control how diligent others are with your personal information. But with Lifelock you can help protect it. Act now and save up to 40% your first year. Call 1-800-LIFELOCK and use promo code iheart or go to lifelock.com iheart for 40% off. Terms apply.

[Jen]

You know, we got a four star review the other day because our intro music is corny.

[Jill]

Yay. I know, and that makes me happy.

[Jen]

I'm pleased by it. I've never had a bigger compliment in my life.

[Jill]

No. Yeah. I think they probably just meant to.

[Jen]

Add that extra star. Yeah, I know it was an accident, but thank you to the person for the corn.

[Jill]

We like corn.

[Jen]

Yeah. All right, so we're gonna. Oh, this one is so juicy. You've been waiting for this. And I talked about this story on an after show on a previous episode, but you all are ready.

[Jill]

Your golden tip for a first time car buyer. Jen, give it to us. We want the juice.

[Jen]

Okay. Okay.

[Jill]

Corn juice.

[Jen]

All right. That's weird. Okay, so my tip for a first. This. Okay, I'm not even. It's not even first time. It's for everyone in this climate right now to recognize sunk cost bias, say more. So sunk cost bias or sunk cost fallacy is common in frugality or even in personal finance. Where is. Because I have sunk time or effort into this, I will not give it up even if by the law of diminishing returns, it is no longer returning. What I am putting into is valuing the time spent or the energy or effort spent more than the actual outcome.

[Jill]

Give us an example.

[Jen]

So I bought a car recently.

[Jill]

Ooh.

[Jen]

And I really wanted this one van that was at this one dealership. But I didn't want to just go to that dealership. I wanted to test something out. So I found another van that was very comparable at a dealership closer. And I just went in to test drive and get the experience before I went into this other one. So I went in, test drove it, did this all by myself too, and then left. And that was. I gained the experience. I got their deal. And that's what I thought, you know, okay, cool. This is the experience. Now I know. And next day I go to the dealership with the car I really want. And mind you, these cars, these vans that I test drove were the same exact price online.

[Jill]

Wow.

[Jen]

They were both 25k.

[Jill]

Yeah.

[Jen]

I think there was maybe a five dollar difference between one was like 24, 999 and the other one was 24,995.

[Jill]

Yes.

[Jen]

So four dollars. Yes, yes, yes. So I went to the dealership with the one that I really wanted. And the difference between these car, these vans was the one that I test drove the first day was a few years older but had like less than half of the miles.

[Jill]

Ooh. Okay.

[Jen]

So this one that I really wanted, it had more miles, but it was newer and it had the luxury, like, package. It had the leather, it had all the features, you know, more miles, but more miles.

[Jill]

Interesting.

[Jen]

Yes. But leather, leather, leather. So. But this is the one I really wanted. So I go in, test drive, and then I sit down at the negotiating table and I'm ready for this because I've listened to the episode with the car chick and I've written the ebooks on negotiation.

[Jill]

I know you are prepared, your sleeves are rolled up. And they don't know what's coming for them.

[Jen]

They absolutely don't know what's coming for them because they put all of these fees. So when I was talking about hidden fees and fee transparency, while the first dealership was like, this is the price and this is our dealer fee and this is it.

[Jill]

That's it.

[Jen]

This is it. I was like, yeah, $1,000 dealer fee. That's standard, this place. Oh. And then I had my trade in that they gave me the value for this place, had a reconditioning fee, which was basically me paying for them to get the car ready to sell, which I thought was ridiculous. And I called it superfluous. And they hated me for that word they kept using.

[Jill]

And I was like, they wanted to give you a four star.

[Jen]

The manager was like. I would describe it as ancillary. And I was like, like, oh, no, it's superfluous. I was like, I know words. And so they had that fee, and then they had my trade in value, but on the sale, like, the deal sheet, they took off $2,000 from it because the car was over 80,000 miles. So instead of just giving me a fair and transparent value of my car, they were trying to deceive me by giving me one. By making me think I was getting more for my car, but actually I was getting less.

[Jill]

Yeah.

[Jen]

And then they had another, like, bonus that canceled out a fee and another. But so they had another fee, but then they gave me a bonus to cancel that out. And so it was just so murky.

[Jill]

Yeah.

[Jen]

To where by the end of it, I spent an hour and a half negotiating with this dealer for this van that I really wanted. And the whole package came out to $4,000 more than what I was gonna pay for the other van that I had seen the day before with absolutely no negotiating.

[Jill]

Right.

[Jen]

And so I was very close to signing the papers for that van for. Very close. For the more expensive van. When Travis and I looked at each other and we were like, what are we doing? I realized that I had let the sunk cost bias. The time that I had spent negotiating, the time that I had spent desiring and thinking about this car, I had let that sunk cost bias almost lead me to paying $4,000 more than an Almost identical.

[Jill]

Yeah. And you're not alone in that.

[Jen]

No, but that one decision to. I mean, we. We had, like, signed the deal, and I was about to give them my Social Security number, I think I had. But we hadn't signed any papers to, like, buy the car yet. We just, you know, signed off that the deal was final. We got up, we left.

[Jill]

Yeah. Thankfully, you had the excuse we gotta go pick up our kids.

[Jen]

I did. We did use that. I mean, we did have that excuse. We had to go pick up Kai. But that decision, as uncomfortable as it was, and I felt bad for wasting their time, which is so silly. I felt bad, but it saved me $4,000.

[Jill]

Oh, this is such a thing to keep in mind with any purchase, any big purchase, whether a home purchase, an investment purchase, renovation, purch, car purchase, like we can find ourselves kind of paying more or buying something we don't even want because of that sunk cost bias that can come upon us. I think it's helpful in listening to your experience, even thinking about having an additional person there, like the fact that you had Travis to also look to and say, wait a second, like just that channel checkpoint. So you can kind of alert each other to, oh, I think this is happening. I think this is happening. What about this? What about that? Whether that's a spouse or a friend or a parent, somebody else with you. Because we can get sideswiped by sunk cost bias or just people. Yeah. Dealerships or the seller kind of pulling one over on you or talking you into additional packages that you don't need. Like, there's just the decision fatigue factor too.

[Jen]

Yeah, yeah. And it's worth buying a friend dinner. If you don't have a partner who's very money conscious, somebody who is a third party, who you respect their financial savvy, bringing them with you and just buying them a really nice steak dinner when it's all done.

[Jill]

That could, I mean, that could almost be even better than bringing a spouse because they're not emotionally invested. So, like, they may not even feel as bad to, to like question the dealer on, well, what about this cost? What about that cost? Because they're not the ones purchasing the vehicle, so it's enough skin off their back.

[Jen]

And, and this can be overlooked when we are jumping straight into financing a car and getting an auto loan. Because 4000 over four years broken up into 12 payments is not a lot. But we want to look at the total cost to own. That's what we said up front. And that's what's going to make the biggest difference when you are focusing on the total cost to own, not the monthly payment. And that's going to save you the most. That is. And we may not be able to pay the full amount or may not want to pay the full amount, may want to put that money into other places, but you can still save a lot on your car and your auto loan by looking at that full price. Because that's. I calculated 666 lattes that I don't have to feel bad about turning down.

[Jill]

Yeah. Yeah.

[Jen]

You know, so I have alleviated over 600 decisions from my life by making the right Decision one time.

[Jill]

Yeah, the tip that I would give to people purchasing a car first time or otherwise, definitely buy used. We've talked about that already. And definitely do your research. Not just, oh, what's the pricing across the board, but your research on the cars in as unbiased way as possible. So rather than searching just for example, like, is a 2006 Subaru Forester reliable? You're gonna get the answer. Like, that's like, you're gonna get the answer that you want on the Internet. You can get the answer that you want anywhere. And so of course, if that's the way you're asking it, people are gonna be like, love my Subaru Forester, it's so great. But if you ask what are the issues with a 2006 Subaru Forester or any vehicle, I'm just using my personal experience as an example.

[Jen]

She had a really bad experience with the 2006 Subaru Forester.

[Jill]

Yes, I did.

[Jen]

Spoiler alert.

[Jill]

Then, then you are going to get the answers from the people who. And as you see themes of what is the issue that that car had? Am I willing to take on the repair costs for whatever those issues. And also recognize that you need to do your research on the specific type of car that you're looking for. Not just the make and model, but the year as well. Because there could be a make and model of a vehicle that across the board is really decent, but that particular year, 2018, is the year that XYZ went on the car. And it could be why you're finding such a great deal on that year of that car is because it's experiencing that issue. So do very specific type of research. And I think one of the things that I see people who are not super knowledgeable on vehicles do, again, whether first time car buyers or otherwise, is just like identifying a car that they think that they like and like going with that, rather than doing research on what are the best vehicles on the road, what are the most reliable makes and models of vehicles? And asking friends, like, chances are each one of us has someone within our circle who is more of a car expert than we are. And ask them, hey, what do you think? What do you know about this type of vehicle? So picking, you know, asking people within your community as well as doing your own research, rather than just getting your mind set on one particular car. Because it really could be that there's a lot of issues that come up with that vehicle or it might not be the best for you for XYZ reasons. And just when in doubt buy a Toyota.

[Jen]

Yeah, unless it's a 2019 RAV4, but so and if you take one thing away from this episode, let it be this. [e-mail] so you don't have to worry about your googling skills. [e-mail] it compiles user generated complaints on the site and then also the National Highway Transportation Safety okay that the complaints there as well and it will tell you make and model which of the years have the most complaints, what the complaints are which of the years have the least complaints. And you want to take the newer years with a grain of salt because they have fewer years to be able to accumulate. But if you're like me and you're looking back and I'm like I wonder what's what aren't my 2016 Hyundai Tucson is compared to all the other Hyundai Tucsons and finding that it's one of the five worst cars like that year and that model one of the five worst cars Hyundai has ever produced.

[Jill]

And you won't know that unless you purchase the car or you do your research ahead of time. Much better to do your research than to find out the hard way.

[Jen]

Carcomplaints.com they don't pay us to say that, but they have paid me so many times over from the money I've saved. Hey, thank you guys so much for listening and I hope that this helped you. If you are on the fence of buying in cash versus getting an auto loan, I hope it helped you save money potentially on that auto loan if you were already set and just looking for tips. And again, I want to reiterate episode 495494 commuting with an e bike with Kevin Ha. And then episode 233 saving money on your next car purchase with the car chick. Those are the two episodes to listen to next. So thank you so much. If you've read our book buy what you love without going broke, which we mentioned at the top of the episode. Thank you so much. We would love it if you could leave a review on Amazon that would be so helpful. Like this one from CC the financial book for the rest of us. 5 stars. This book gives real world, real life advice for the layperson to make the most of their money. The suggestions are realistic and don't make you feel like you're missing out financially. Their advice allows you to both save towards goals and indulge on what you like within reason. There's great balance here. I'm more than just put your money here or there. This is about changing how you think about money and spending and saving on what's important to you. I highly recommend both the book and listening to the Frugal Friends podcast. Thank you for the shout out for the podcast too.

[Jill]

Yeah, thanks, Cece. And thank you all so much for listening to this show. If you enjoyed this podcast, please also take just a short minute and leave us a rating and review. If you've read the book, please also leave us a rating and review. There. All of it helps us us. And also, again, it's Jen's birthday, so show her some love one way or another. Okay, here's the ways you can show Jen some love for her birthday. You can leave a rating and review on the podcast. You can leave a rating review. Spotify or Apple for the book. Amazon, you can buy the book. Buywhatyoulovebook.com. you can follow us on social media. Frugal Friends podcast or eeklymoney Move. Because we have another Instagram account, we're giving you a money move. Every Monday. You can sign up for the friend letter Frugal Friends podcast.

[Jen]

Okay, that's a lot of options.

[Jill]

They gotta have the options. They gotta know what we're doing.

[Jen]

Whatever you do, if you post it and tag Modern Frugality, which is my Instagram, I'll send you a virtual hug is what I'll do. It's one of those hug emojis.

[Jill]

You gotta remember, this is what you promised them.

[Jen]

Jen, you can remind me. Just be like, if I don't send it to you, be like, where's my hug emoji? Yeah, and then I'll remember.

[Jill]

Okay, bye.

[Jen]

Frugal Friends is produced by Eric Sirianni.

[Jill]

Um, birthday plans. You had told me a while ago what you want to be doing.

[Jen]

I hope that I do. Make it happen. There's a lot of time between now and then a few weeks.

[Jill]

Just a few weeks.

[Jen]

God, it is just a few weeks, isn't it?

[Jill]

Till you cross over into being closer to. No, wait, have we already crossed? How old are we, Jill?

[Jen]

Wait, Jill and I are the same age right now.

[Jill]

Are we 36 or are we 35?

[Jen]

We're 35.

[Jill]

Okay.

[Jen]

And I. I thought, okay, yeah, turning 36.

[Jill]

We're crossing over. Being. Yeah.

[Jen]

So I'm turning 36 over on my birthday.

[Jill]

Being closer to 40 than to 30.

[Jen]

You'll spend several months telling me I'm old and how you are a young, vibrant soul spring chicken. And then in August, you will be 36 as well.

[Jill]

Let me live in my bliss though.

[Jen]

Yeah. Three months.

[Jill]

Three months.

[Jen]

Three months of bliss.

[Jill]

Pure poison. I will be closer to 30 than to 40 or at least right on the edge.

[Jen]

Yeah. So I want to get my girlfriends together. No kids on a Saturday mid morning and go to a coffee shop and either play games or do crafts. I want to. I really want to do crafts.

[Jill]

Like where do you want to get.

[Jen]

Together at a coffee shop? I haven't decided which one. So TPT and yeah, I just want to. I just want to have like a morning with ladies without kids where we all can get away from our kids. Like it is a refuge for all of us. You're still invited even though you have no one to get away from.

[Jill]

I can leave all my worries and troubles behind.

[Jen]

You can leave all your worries and troubles behind. Yeah. And I will leave my children who are all of my worries and troubles, but that I love greatly.

[Jill]

Cannot wait for that. That sounds so exciting. What a good idea and good inspiration for other people who are still here listening.

[Jen]

Because I am tired at night and I don't want to go out at night. That's what. I don't want to do that because. Because the sun goes down and I'm in bed. Mornings are. Yeah, where's that for me now? I'm up at 6:30am every morning. 6:15 this morning.

[Jill]

That's before the sun too.

[Jen]

I know.

[Jill]

Yeah.

[Jen]

So, okay. Yeah, that's who I am. 36.

[Jill]

Happy birthday, Jen.

[Jen]

Thanks. This message comes from Greenlight. Greenlight. Ready to start talking to your kids about financial literacy? Meet Greenlight, the debit card and money app that teaches kids and teens how to earn, save, spend wisely and invest with your guardrails in place. With Greenlight, you can send money to kids quickly, set up chores, automate allowance and keep an eye on what your kids are spending with real time notifications. Join millions of parents and kids building healthy financial habits together on Greenlight. Get started risk [e-mail] iheartra so you.

[D]

Want to start a business? You might think you need a team of people and fancy tech skills, but listen to me when I say you don't. You just need Godaddy Arrow. I'm Walton Goggins, an actor and I like the sound of starting my own business. Walton Goggins goggle glasses. But I couldn't do this on my own. Godaddy Arrow uses AI to create everything you need to grow a business. It'll make you a unique logo, it'll create a custom website. It'll write social posts for you and even set you up with a social media calendar. How cool is that? Well, listen to this. For a limited time, you can get Arrow all access for just a dollar a week for 12 weeks. We're talking all the AI power of GoDaddy arrow plus a domain E commerce store, payments, professional email, a unified inbox. All for less money than I spend on deep tanning lotion while sunbathing off the Amalfi coast. You know what? That sounds like a plan. Get [e-mail] terms apply.

[Jen]

Some matches are temporary, but your privacy shouldn't be. With Line two, you get a second phone line just for dating. No need to share your personal number until you're ready. You can chat, text, and even block numbers, all while keeping things fun and private. It's perfect for online dating, blind dates or just keeping things light. When you're ready to move on, Line two lets you cut ties without any drama. Dating should be fun and carefree. Line two keeps it that way. Ready to date on your terms. Visit linetoo.com audio or download line 2 in the app Store.

[Narrator]

Today, in a world of economic uncertainty and workplace transformation, learn to lead by example. From visionary C Suite executives like Shannon Schuyler of PwC and Will Pearson of.

[Jen]

Iheartmedia, the Good Teacher explains the great teacher inspires don't always, always leave your team to do the work. That's been the most important part of.

[Narrator]

How to lead by example. Listen to leading by Example executives making an impact on the iHeartRadio app, Apple Podcasts, or wherever you get your podcasts. You're listening to an iHeart podcast.