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- [00:00]
Joel
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- [00:24]
Matt
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- [00:32]
Joel
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- [00:48]
Matt
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- [01:05]
Joel
Joel and Matt from how to Money. Matt, you and I, we do a decent amount of traveling. So what's a place that you think lived up to the hype?
- [01:13]
Matt
That one is tough, but immediately what comes to mind is Scotland. The scenery in particular was insane. I'm specifically thinking about when we went and hiked Old Man's Store. Oh yeah. Felt like we were on a completely different planet. It was otherworldly.
- [01:27]
Joel
Sure was. Yeah. Yeah. And our Airbnb on the Isle of Skye, man, it looked straight out this field into the sea. Total tranquility. And the castle gardens that we saw, man, it felt straight out of a fairy tale.
- [01:38]
Matt
It's true. Yeah. That trip showed us how big a difference the right place makes. And if you've got travel plans, don't let your place sit empty. Airbnb's co host feature makes it easy to earn a little cash while someone else manages the day to day.
- [01:51]
Joel
That's right, find a co host@airbnb.com host. Welcome to how to Money. I'm Joel.
- [01:56]
Matt
And I am Matt.
- [01:58]
Joel
And today we're discussing how biking is a money and a life hack.
- [02:21]
Matt
That's right. And whether it's the cooler weather, Joel, that we are experiencing or specifically I saw recently that Atlanta, there's this month long initiative that's called Biketober. That's all about getting folks to ride their bikes more often.
- [02:33]
Joel
I can't wait till bikevember.
- [02:36]
Matt
Bike Sember. That one definitely doesn't work.
- [02:39]
Joel
Bikeuary bar.
- [02:42]
Matt
But regardless, biking, it's on our mind. It's something that we enjoy so much. We feel like it's like the secret sauce, maybe, to why it is you and I are so happy, why we're so wealthy. It's because we bike so much.
- [02:53]
Joel
Yeah. All right. We're like the Benjamin Franklin to bikes.
- [02:57]
Matt
It's not quite. It's one of the secret, secret sauces in our arsenal. We felt that this was so crucial. This was literally the first episode we ever recorded within this personal finance podcast we decided was going to be about bikes.
- [03:09]
Joel
Yeah. When you think about it from a logical perspective, it doesn't make a whole lot of sense to launch a personal finance podcast.
- [03:14]
Matt
Not really.
- [03:14]
Joel
And then make the first episode about biking.
- [03:16]
Matt
But like. But rather investing.
- [03:19]
Joel
Right. Or savings, whatever it is. But I guess when you think about it from our perspective, like, it shows one, how much we value biking and how important we think it is, but how it really is an integral habit that you can incorporate into your life, that's going to save you a ton of money as well. Exactly. And so that's, you know, we're going to kind of maybe, you know, update our thoughts on biking and give some explainers on why it's so important, and then talk about how you can effectively make biking more part of your regular routine, and we'll talk about how it can save you money. But there are a lot of other additional benefits, too.
- [03:51]
Matt
Yeah, there are a lot of reasons. Before we get to that, Joel, before we get to our beer, I wanted to share a quick, Like, a boneheaded move that I made. Normally we talk about our wins when it comes to our money, but I'm going to share a loss. Not a large loss, a small loss.
- [04:03]
Joel
Okay.
- [04:04]
Matt
Thankfully. So we took a listener question. I think this is about two years ago or a little over two years ago. It was towards the beginning of the pandemic. It was when the Fed was dropping rates, and we were seeing what the banks were paying in savings accounts dwindling. Right. I mean, basically, it was taking a nosedive. And a listener.
- [04:21]
Joel
People understand now the mechanics behind that, based on last week's episode.
- [04:24]
Matt
That's right. We talked about this last week. And what's crazy is that us thinking about and preparing for that episode last week, that's not what caused me. Well, maybe it did, in a sort of roundabout way. Caused me to Realize that I was making this mistake in my own life. But a listener was asking about locking up some of his money in a CD in order to earn some sort of interest within the money that he had set aside. We're not normally huge fans of this, but there are some penalty free. There are like These no penalty 11 month CDs in particular, one that I signed, you know, sunk some money in after that question was this one that Ally offers. And when there's not going to be a penalty, when there's no fee associated with canceling that, you know, canceling that account, pulling that money out early, there's no harm in locking that money up. And so that's something that we did recommend. We're like, well, maybe shy away from the regular cd, but if there is a no penalty option, maybe take that path. I figured I would do that as well because I thought this is a good way to keep your savings at least in the 1/% range rather than seeing it kind of dip all the.
- [05:24]
Joel
Way down as like the writing was on the wall. 5 range rates were coming down, savers were going to get hit hard. And so that was an environment where CDs made a little more sense. Whereas typically we're like, we're not very.
- [05:34]
Matt
Fond of CDs you might want to stay away. And that's all fine and dandy unless you forget that you've got money in that account. And like we talked about last week, the banks have been raising their interest rates and are paying in the mid to upper twos even at this point. And that is exactly what I have been doing by default over the past few months. It took me last week, I was looking, it was the end of the week, I was cleaning up the budget a little bit and I realized, holy crap, I've got a serious chunk of money sitting there earning one point something when I could be earning easily double that.
- [06:04]
Joel
You feel like a little bit of a gut punch?
- [06:06]
Matt
Well, I mean, luckily again, because it was a no penalty cd, I was able to easily remedy that. It was super easy to do, just canceled that account, move that money over to the savings account, was immediately earning a higher rate. But I wanted to share this because even though, I mean we talk about this all the time, I'll say, at least for myself, it can be easy to kind of fall into the set it and forget it mindset. And while in some instances that is a great approach to take, right in particular when you're talking about your investments with something like this, that's a little More active. It's good to revisit some of these different decisions that we've made in the past because it's funny, I mean, it was just right there in front of me and I had just been looking right over it, just like as I go in there, make sure certain checks have been deposited, make sure everything's matching up within my spreadsheets. But it took me taking a step back and realizing, oh man, this is a suboptimal move for me right now to have all this money, all this money tied up. And so I think that can be a natural tendency for us. Right. To make things easy, to simplify things, to not think about things once we've made that decision. But I think it can be beneficial to our bank account specifically for us to revisit some of these things.
- [07:09]
Joel
Yeah. It's hard to remember, okay, I put money in a cd, but I did it because we were in falling rate environment. Now that the environment's completely shifted and there are much better places for me to stick my cash, whether it's I bonds or even just stocking that money in a regular savings account. But for anybody out there who does have money in a cd, the chances are once it matures or if it's a no penalty cd, it's time to get the money out because there are better places to stick that money. I'm glad you realized the error of your ways.
- [07:37]
Matt
I was able to fix that problem. Yeah. And again, the one I had signed up for, it was through Ally, super easy to do. It does make me wonder though, how many folks are out there who have signed up for, did something similar and are realizing, oh, wait a minute, oh shoot, this is something I need to take care of.
- [07:50]
Joel
Yeah, time to address it.
- [07:51]
Matt
Exactly. Move on, Carry on with life. Joel, let's introduce the beer. You and I are enjoying this episode again. This is another one by Boski Brewing Company. Thanks to Bob for donating this one and the others to the show. Looking forward to enjoying this one, Joel. And of course, we'll share our thoughts at the end of the episode.
- [08:07]
Joel
No doubt. All right, well, let's get onto it. Matt, let's talk about one of our favorite subject that we've been talking about obviously for a long time now, which is biking. And it's still something that we address from time to time on the show because especially during the pandemic, bikes were so hot. They were all the rage. Bike sales were through the roof. We would say that spending less than you make, it's like the most basic element of personal finance. You can get as complex as you want. You'll probably need to get more complex if you want to make progress more quickly. You'll need to figure out the dynamics of investing and frugality and to be able to grow the gap so that you can invest more. But if you can get that, that simple basic habit right, of spending less than you make right, it's going to have massive ramifications on every area of your life, allowing you to pay off debt to save and invest. But if you fail to heed the most basic tenant, if you aren't able to do the simplest thing right, well, then you won't be saving or investing and your debt's going to continue to accumulate. And that's an awful place to be in your personal finances. And Matt, I don't. Just thinking about biking, it made me think it's this really simple thing that can radiate and have a major impact on your finances. And it actually made me think of our conversation a couple years ago with Charles Duhigg, who wrote a book about habits. And he talked about habit formation with us in January a couple of years ago. And one of my main takeaways from that conversation was when he talked about keystone habits. And he said that keystone habits impact all of our other habits. That if you get just a couple of these keystone habits, right, that it'll be much easier to develop other healthy habits. They're kind of like the big domino that knocks down all the other dominoes. They create this ripple effect. And I think you and I, maybe we might describe biking as a keystone habit that can have wide ranging impacts on our lives, on our finances. And that's why we're dedicating an entire episode to it today. Just like spending less than you make is a keystone habit. Right. It's going to lead to better results in every other part of your finances. Well, biking similarly, is that for, I think, our money and for our lives?
- [10:10]
Matt
Absolutely, yeah. The fact is, we believe that biking can have maybe as much of an impact on your day to day life as spending less than you make. It can be that foundational. Uh, there are just so many different potential problems that biking more and driving less is able to solve. And another common thread or narrative that we often hear is that riding a bike might seem like this activity that's just a bit out of reach for every single person out there to try. Uh, you might be, you know, someone might say, like, oh, cycling is just for the, the bike messenger types, you know, riding around on their Their hip single speeds, slipping off cars as they drive down the sidewalks. Or. Or it's just for the, like the weekend warrior mountain bikers or for the. The cluster of bikers that are, you know, riding down the road wearing spandex. But, like, we. Look, I'm fine with it if. If you want to do that, more power to you, but we're trying to convince you otherwise. Right. Like, this is more approachable than you think. We want this to be something that you incorporate more in your day to day, as opposed to it being this thing that is more of. Want it to be less of an activity and more sort of like the, like the underpinning of how it is that, you know, you think about transporting yourself around and, you know, plus, even if you haven't ridden a bike since you were a kid, like, there's a reason that you hear the phrase it's like riding a bike. It's because it's something that you never forget how to do. That's one of the reasons that we're not really going to get to today too, Joel, but just, I mean, riding a bike, I think. Was it the first episode when we talked about Stranger Things and just how much fun it can be when you're just, you know, have the freedom of being on a bike? The wind blowing through your hair.
- [11:39]
Joel
Yeah, that was half the fun.
- [11:41]
Matt
Your helmets into your hair. Of course, you always need to wear a helmet.
- [11:43]
Joel
That was half the fun of the first season of Stranger Things was those kids on their bikes in the 80s. And just like the nostalgia. Yeah, it brought me back to my childhood and doing the very same thing in the streets of the neighborhood where I grew up. And I think it's also important to mention, Matt, you mentioned Biketober here in Atlanta. This is like the perfect time of year to get started riding a bike because, like, if you start picking it up in the middle of July or the middle of January, you're less likely to stick with it because it might be really hot or really cold wherever you are, and you might be like, yeah, no, not for me. So we would say the fall is just the right time to begin biking. It's the absolute best weather. There's just something delightful about getting around on two wheels when the leaves are changing colors, too. Like the sound of those leaves as they dry, crackling under your tires.
- [12:29]
Matt
It's pretty nice.
- [12:30]
Joel
It's pretty great. And, you know, by the way, back when we started the podcast, we were living in the middle of a big city in the city of Atlanta, and Because of that, a lot of folks may, I don't know, they might have dismissed our enthusiasm for biking as like, that's what the urban dwellers, that's what the city folk do. And you know, I live, Nigel, they.
- [12:47]
Matt
Don'T understand what it's like out here in the burbs.
- [12:49]
Joel
Right.
- [12:50]
Matt
Well, guess what?
- [12:50]
Joel
Now we do.
- [12:51]
Matt
We've joined you.
- [12:53]
Joel
And so, yeah, I don't know, they might have thought, well, it's, it's, it's particularly a matter of where they live. I can't do the same thing. And I'm not going to lie, Matt. You and I, we were a bit nervous when we.
- [13:03]
Matt
Oh yeah.
- [13:03]
Joel
To move out to the birds, that maybe it would mean biking less, driving more. That's not what we wanted. But yeah, we're happy to report that we have been biking just as much, if not more than we used to when we were living in town. And you know, there might be less bike infrastructure around these parts, but that doesn't mean we've got to relegate our bikes to the garage. I was like literally just chatting with a new friend here, Matt, on Sunday, and she was Talking about an 8 mile bike ride that she makes every single week. And the bike infrastructure, not great for a section of that ride, but she makes it happen anyway. And I was like, more power to you, man. This is. Congratulations.
- [13:39]
Matt
That's awesome. Yeah, Yeah, I think, I mean, you and I were both proud to say that we have not succumbed to the desire to get a second vehicle living out in the burbs. We have found a way to prioritize biking in our life and that's truly what it comes down to. It's about making it a priority because you might not have it as easy, but especially if you're a renter, right? Or if you're in the market to buy a home. Right now, thinking about where you live in terms of bike ability and even walkability, that that's a smart thing to do because even if that apartment, if it costs more because it's centrally located, if it means that you can ditch a car and avoid the car payment, which would be the worst case scenario, but even still, insurance costs, the cost of maintenance, the cost of gas, it's going to mean meaningful savings. Last week in the how to Money.
- [14:23]
Joel
Newsletter, the wonderful, magnanimous HTM newsletter, it's.
- [14:26]
Matt
A fantastic one, everyone. I featured a listener and she did this very thing. It's not like she had this super fancy car or anything. It was nice and it was a used ride, but she sold it. And she credits that one move as having the biggest impact on her ability to get ahead. So maybe she's also influenced our desire to revisit biking because we're like, man, she is doing things right.
- [14:46]
Joel
When I saw that and she shot a picture of her, like even in the cold in upstate New York riding her bike.
- [14:51]
Matt
Yeah, she's in New York. Yeah. And she makes $17 an hour. She's got a six figure net worth. But she credits all of this to the one big decision that she made, which has had ripple effects in all other areas of her life. But she's able to get around town no problem. And of course, being up there, close to the Canadian border, she didn't say specifically where she was. It's a lot colder up there, so it's not even a requirement to live in the wonderful, balmy state of Georgia like we are. We think it's great down here, but it is still possible, no matter where it is, that you live.
- [15:21]
Joel
All right, side note, my favorite thing about the how to Money newsletter, by the way, is the how you Money segments that we're doing.
- [15:27]
Matt
It's a nice feature.
- [15:28]
Joel
It's so fun because we profile a different how to money listener or reader every other week in the newsletter. And so you get kind of like an insight, like a voyeuristic look into their personal finances. You can see, well, how much money do they make and what are their debts? How much are they saving? How much are they investing? Where do they live?
- [15:44]
Matt
Joel likes peeping in on you and your money.
- [15:46]
Joel
Yeah. If you're curious about how other people live and handle their money and maybe they're, they're freak their craft beer equivalent, how they're living life. I think it's a really fun element of the newsletter and you can, I'm learning a lot from. It's super our readers, which is, which is fun. So, yeah, you should sign up for that@howtomoney.com newsletter. But let's keep talking about biking. And Matt, I think infrastructure is definitely, you can, you can cite a lack of infrastructure as a reason why you're not biking more. And I, I can get the argument behind that. And I do think it's important that we fight for more bike infrastructure where we live. But I would say it's, it's more of a possibility to bike than you realize, even if you lack some of the infrastructure that would be nice to have. Although, you know, we talked about there was a resurgence of biking during the pandemic. Bike sales were through the roof. And we even saw more and more cities and municipalities, like, prioritize bike infrastructure, which was cool, but the reality is we still kind of have woefully inadequate bike lanes around most of the country. And this might be, like, a no duh thing to say, but I saw this study in the National Academy of Sciences found that cycling increased up to 48% more in cities that added bike lanes versus cities that added none.
- [17:03]
Matt
It makes a difference.
- [17:04]
Joel
Yeah, it does. Like, if you build the infrastructure, people want this, people get out. But we've kind of prioritized cars in so many of our cities around the country. We've given them full reign of all the roads, and bikers are relegated to what's left, and that's just not good. And so we, as just a society, as a culture, have to prioritize biking. And, you know, Oakland is, for instance, one of those towns that seems to really have prioritized, making it easier and safer to bike in recent years. And I don't know, I hope we see more of that, and I hope the reality that Covid created more bike riders is going to create maybe like a groundswell in a lot more cities for more bike infrastructure, because it's going to make it easier for all of us to get around on our bikes.
- [17:48]
Matt
Yeah, exactly.
- [17:49]
Joel
Yeah.
- [17:49]
Matt
I mean, and hopefully we can end up like a city like Copenhagen, right? Like something like 62% of folks.
- [17:54]
Joel
That sounds like heaven.
- [17:56]
Matt
They commute via bike. There's, like, large swaths of the city that you cannot access via car. And so we want to see more of this, you know, but we only see something like 0.6% of US commuters riding their bikes to work.
- [18:09]
Joel
That's like, what, a thousand times increase? It's insane.
- [18:14]
Matt
The fact is that the more infrastructure we pop up to encourage biking, the more biking we're going to see. And it doesn't happen in a vacuum either. You know, like, it takes organizations, it takes individuals to help fight for it. It reminds me of our friend Chad Carson. He spends a lot of time and energy getting more bike trails up and running in his hometown of Clemson, South Carolina. And so we would recommend for folks, you know, find your local bike advocacy organization, donate some time, donate some money, attend some of these meetings and some of these group rides often, which are there to help raise awareness, because we believe that they can be a major catalyst to this becoming something that you can actually see in your hometown, not just something that Matt and Joel like to talk about from time to time on the show.
- [18:55]
Joel
Well, we've talked about streets alive in Atlanta and how that happens typically four times, three or four times a year and they shut down like five or six miles of street that typically are cars have full reign of and how that just has an impact on the public consciousness about how many people want to get out on their bikes in that town. And then there's pictures, there's documentation that I think we can, we can point to our politicians and say, look, there's like a desire for this. Let's put more of our dollars, our public dollars to use funding bike lanes that are going to make our city more better to get around in and just kind of a healthier place to exist as well.
- [19:29]
Matt
Totally.
- [19:29]
Joel
But Matt, let's keep talking about bikes. Let's talk about specifically, let's get to how much money you can save if you choose to ride a bike more. But there are environmental impacts that actually there was a stat that shocked me. We'll talk about that and more right after this. Tracking your spending well, it might seem daunting, but it's a crucial first step to taking control back. And that's because finances that can be messy and confusing. While Monarch Money acts like your personal cfo, giving you full visibility and control so you can stop earning and start growing. Monarch has so much functionality, but the basic dashboard even is just one of my favorite features. You get your net worth, your goals and crucial budgeting data all right there when you first log in.
- [20:15]
Matt
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- [20:39]
Joel
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- [20:53]
Matt
So Joel, you know I like the numbers. Well, here is a stat that will stop you in your tracks. Nearly half of American adults say that they would suffer financial hardship within six months if they lost their primary income earner. If that stat hits close to home, you are not alone and you are not out of options. Policygenius makes finding and buying life insurance simple. Ensuring that your loved ones have a financial safety net that they can use in case something happens to you, whether to cover debts and routine expenses, or even to invest the money and to earn interest over time. With Policygenius, you can find life insurance policies starting at just $276 a year for $1 million in coverage. It's an easy way to protect the people you love and feel good about the future.
- [21:34]
Joel
Yeah, Matt, the listener feedback we get about policygenius is top notch, right? They love how easy it is to cross this off their to do list. And that's because policygenius helps you compare your options by getting quotes from America's top insurers in just a few clicks to find your lowest price. And then policygenius, they lay out all your options clearly, right? Coverage, amounts, prices, terms. There's no guesswork, just clarity.
- [21:57]
Matt
Secure your family's future with Policygenius. Head to Policygenius.com to compare free life insurance quotes from top companies and see how much you can save. That's policygenius.com Hey, y', all, it's Joel and Matt from how to Money.
- [22:11]
Joel
Matt, we've had our share of unforgettable travel moments, but Scotland might take the cake.
- [22:16]
Matt
Oh, indeed. That was an epic trip. Okay, so for those who may not know, Kate and I joined up with you and Emily, and we road tripped all the way to the Isle of Skye. We actually had a little hiccup with the rental car. I backed into a concrete wall, but I'm telling you, dude, it was worth it for the views. That's true.
- [22:32]
Joel
Yeah, that's right. Always make sure you know what you're doing with car insurance.
- [22:35]
Matt
I swear that conc just popped out of nowhere.
- [22:37]
Joel
You know, it always does. Totally worth it, though, right? What an excellent trip.
- [22:41]
Matt
Yeah. Another reason I love that trip was because we stayed at this incredible Airbnb that looked out over this field. The sheep were grazing out there. I saw it. In the mornings, you could look right out to the sea. There's, like, islands out in the water. So peaceful. Waking up to that view every morning.
- [22:55]
Joel
You know, that trip reminded both of us how nice hosting can be.
- [22:58]
Matt
Right?
- [22:59]
Joel
Because your home might seem ordinary to you, but to someone else, it could be the highlight of their adventure. That's true.
- [23:05]
Matt
And with Airbnb's co host feature, it has never been easier. A local co host can help you to manage your guests and help to keep everything running smoothly.
- [23:14]
Joel
Find a co host@airbnb.com host.
- [23:21]
Matt
All right, dude, we are back from the break. We're talking about biking, and, you know, we just touched on bike infrastructure specifically how it is that you can work to make things better wherever it is that you live. But we're going to now cover some of the reasons that we feel that biking is a total game changer. And the first one, it's going to seem super sort of broad, but it's also, it gets very specific as well. The first reason that we think biking is such a clutch move is that bikes are efficient. As I'll get out, they're somewhere between like 50 and 80 times more efficient, energy wise, than taking your car. And then on top of that, more than half of the trips that we make are four miles or fewer. Right. And so what's important to keep in mind here is a trip of that length, it's going to be a lot easier to stomach for most folks, especially if you're just starting out. Right. It's unlikely that you're going to start biking on your 20 mile commute to work. Actually. I think that would actually lead to more folks throwing in the towel maybe before they even started.
- [24:15]
Joel
You try that 20 mile commute on.
- [24:16]
Matt
On day one, day one, it's probably not going to work out.
- [24:19]
Joel
Literally tomorrow, Thursday morning, you're like, ah, yeah, I'm going to give it a shot. And then you know, you're going to peter out pretty quick because you're going to be like, that was rough. I'm not into it.
- [24:26]
Matt
Exactly. And so whether, you know, it's just dropping the kids off at school or just running and you picking up some groceries, running an errand, these are the sorts of trips that make sense for us to use our bikes for. We've talked before how vehicles like cars are these really interesting devices because we use the same device to drive two miles that we could hop into right now, fill it up with gas and drive straight across the country for hours and hours. Whereas there's a big gap. There's a lot of room for vehicles like bikes in particular when it comes to these shorter trips.
- [24:59]
Joel
Yeah. And sometimes you like to take your segue out on the, on the open road every once in a while. Not true. Those, those things, I don't feel like they're great for like city tours, maybe on sidewalks around town, but they're kind of worthless.
- [25:11]
Matt
You know, I've never actually been on a Segway.
- [25:12]
Joel
I don't think I've been on one either. I've seen them around, but they just look so goofy.
- [25:16]
Matt
Seem neat. I'm on no hate. I just have.
- [25:19]
Joel
They do look goofy though. I mean, you look goofy wearing your helmet on. A Segway that's going three miles an hour. That's true. All right, well, let's. Let's talk to you about the environments, because there's an argument to be made by folks who are trying to use fewer fossil fuels that biking is a perfect way to do this. Right. And we could all stand to lessen our carbon footprint. And riding a bike is really like one of the easiest ways to immediately begin making that happen. If that's something you care about, if that's something that matters to you, we would say biking is kind of one of those slam dunk choices to make in order to be better about that. And according Matt, this is the stat that I talked about before the break that just completely floored me. According to research out of the University of Oxford, which has some pedigree. Right. They kind of know what they're talking about.
- [26:04]
Matt
Apparently fairly academic.
- [26:05]
Joel
Yeah. Even choosing a bike over a car one time a day reduces the average person's carbon emissions by 67%. I still don't understand how that's possible, but I'm just going to trust the science here. I'm going to believe the University of Oxford that this is accurate. So I think the thing, when I read that one, I was just kind of of flabbergasted, but it also made me think that it doesn't have to be an all or nothing approach. You can gradually start adding a bike into the mix of your transportation, of the modes that you take, confident that even just a minor shift, just biking, that hopping on your bike one time a day to make a run, instead of, let's say you take five car trips a day, make it four car trips in a bike ride. And that is going to have a major impact. You might think, oh, I'm just, I'm starting out small. I'm dipping my toes in the water. It's not gonna make that much of a difference. But I don't know, at least what this stat is showing us is that it will.
- [26:56]
Matt
Yeah. And honestly, even aside from the environmental impacts, which, you know, that's definitely a great argument, but there's just something beautiful about efficiency. Right. Like, if you're listening to this podcast, it makes me think of all the money nerds out there. Like, we're all money nerds on, like, on the spectrum.
- [27:09]
Joel
Yeah.
- [27:10]
Matt
Like, it depends on how into it you are.
- [27:12]
Joel
But regardless, we all, you might, like, I don't know, start bawling. If you had done what Matt did with that cd, you know, like, that inefficiency might have gonna cause you to crack. Yeah.
- [27:22]
Matt
But regardless, what we like seeing, though, is our dollars going to the right places and to not see waste. And that's what we're fighting here. I mean, this is sort of, like, beautiful design, I guess, is what I'm getting at, is the fact that you're able to harness your physical energy, your physical calories into moving your body across the earth. There's just something really cool about that, aside from the positive impact that it's having on the environment as well.
- [27:47]
Joel
Yeah. And it's even bigger environmental positive if you are able to. In a family that would normally have two cars. If you. If you cut back to having one car, it's like that car didn't even have to be created in the first place, much less being driven. And so I think that makes it even more powerful from an environmental perspective. I don't. I don't have any numbers or flabbergasting statistics on that. But you got to think, Matt, the fact that a family of five and a family of six each have one car when that is traditionally those families who have two or three, that makes a big impact, too.
- [28:15]
Matt
Exactly. Yeah. And so, obviously, like bikes, they're not just efficient from an energy standpoint, but they allow you to use your money more efficiently as well. Bikes are cheaper than cars, like, obviously. I mean, you could buy a $10,000 bike if you wanted to, I guess. But the truth is that you can get an awesome bike for less than $1,000, and great used bikes can be had for just a few hundred bucks. Not only do you save money on that upfront cost, but just the ongoing expenses associated with maintaining a bike versus a car are pretty significant as well. There's a New York City biker who actually did the math, and he found out that a $1,500 bike should cost you somewhere in the $350 range in maintenance costs throughout the year. And, you know, that sounds pretty close, but it's actually higher than what we're typically showing out here, maybe down in the warmer state of Georgia. I don't know if there's less salt or whatever on the road that's corroding our parts as much. But even still, a few hundred bucks a year and maintenance is pretty reasonable. It also makes me think about. I was looking at some of the different reasons that folks who are participating in Biketober here in Atlanta, why it is that they bike. And there is. He's either a student or a TA or a professor at Georgia Tech, and it's because for him, it was going to cost him the same amount of money to buy a parking pass on campus that would allow him to drive to school and park, park his car there on campus as it would for him to buy an electric bike. So he just bought the electric bike because he thought, well, what's point of like that's not even including all the additional maintenance costs, the cost of gas, the insurance, all the other costs associated with owning a vehicle, but just in parking alone, that one expense allowed him to make the slam dunk decision to go ahead and get that E bike rather than buying that parking.
- [29:59]
Joel
And that's a really good point. In Atlanta, parking costs aren't as expensive as they are in other cities, like Washington, D.C. for example.
- [30:05]
Matt
Sure.
- [30:05]
Joel
And so if you live in a place that has higher parking costs, you might find that that's another. It's like even my little sister in midtown Atlanta, for every additional space you get as a, as a tenant, you have to pay. I forget how much. I think I want to say it was like 150 bucks a month.
- [30:20]
Matt
A month?
- [30:21]
Joel
Yeah, for an additional parking space. And they are a one car family with a tiny little scooter. And they were able to get their scooter, basically they're able to park that for free. So yeah, if parking costs factor in, that's a big cost. So you can axe out of your life if you start riding your bike more. And Matt, you were just talking about the difference in the upfront cost of a bike versus a car and then the ongoing maintenance costs, which are a fraction. Right. And there's just like a massive difference compared to the average cost of a vehicle, which when you run the numbers and this, this also sounds a little shocking. It costs the average person $10,000 a year. I think it was like $10,700 a year and the most recent AAA survey to own a car. Because when you're factoring in maintenance costs, you take into account depreciation, which is the thing that most of us, we don't really think about, but your car is being devalued every single year in a typical environment. And, and that will cost you thousands of dollars a year just owning that car. And basically when you think about the numbers like that, that one year of car depreciation, well, that is going to cost you more than what the bike would have cost you, which is, which is kind of crazy to think about. But we often don't run the math, right. We don't run the full numbers. And so we, we assume that Our cars are costing us less than they actually are. But the truth is that your car is way more of a drain on your finances than you think it is. And if you actually run the numbers, you'll find that out. And then if you can ditch a car like we talked about from your life and your budget, you're going to be in this vastly superior financial position that most people aren't in, allowing you to funnel your dollars to more productive areas. Right. You know, having one less car also, by the way, selling a car and being like, I'm going to become a biker now is inevitably going to lead you to biking more. It makes me think, Matt, like, I wasn't fully committed to basically biking full time until we sold my Nissan Leaf. And I was like, well, I guess it's my only option now. It kind of left me up the creek without a paddle. And so I had to find my way as a biker, full time biker. And I think that was helpful. I don't know that, you know, you should necessarily start from square one, sell your car tomorrow and then like, you might find that your specific situation doesn't lend to becoming a full time biker, but it's, it's worth.
- [32:33]
Matt
Your literal mileage might vary. Yeah, on this one, yeah.
- [32:36]
Joel
But it is, but it is important to note that sometimes like that can help you fully commit to the thing that you're like, you're trying to achieve. Finally ditching that car, not having that safety blanket when it's 45 degrees and you're like, I'd rather heat up the car and take my 5 mile trek to work inside, inside that little cocoon. I get it. Like, I would probably opt for that too sometimes, but now I don't have the option. And that kind of forces me to do the right thing.
- [33:04]
Matt
That's right. Yeah. It's an incredible commitment device were you to go ahead and sell that vehicle and stick with driving full time. And it's also worth addressing a potential argument that biking, how it might actually cost you more money. And that argument goes something like this. If time is money and it takes me longer to get somewhere, well, then it's gonna cost me more to ride a bike than it is for me to drive a car. But here's something interesting. Cause if you're a city dweller, biking can often help you to get wherever you're going more quickly than you could in your car. That's actually what this study over at MIT found last year. Because fact is, bikes can maneuver around cities a little more nimbly. Than cars can, especially when traffic is awful. Something we deal with here again in Atlanta. And additionally, when you factor in how much easier it's going to be to find a parking spot for your bike than it is to actually find a spot to park your car in the city, it's going to make biking look even smarter. But bottom line, I think that that kind of argument, it's oftentimes too more of a short term sort of argument. Right. Like you're only looking at the here and now. And fact is, there are these other longer term benefits that you realize by biking. More oftentimes it doesn't come down to just the dollar and cents, but there are some other factors as well that biking can have a positive impact in our lives.
- [34:17]
Joel
Yeah, completely. Like for instance, maybe if you're biking more regularly, you don't have to spend as much time in the gym. Right. Because of the health benefits that you get from biking. By the way, I love what you said about finding a parking spot. It's like, yeah, maybe my car got me there five minutes faster, but then it takes 10 minutes to look for the parking spot.
- [34:35]
Matt
And as I circle the city blocks.
- [34:36]
Joel
Exactly. Well, we've, we've talked about riding to Atlanta United games on our bikes and how just getting your car in the parking lot is such an endeavor at one of those matches. And then valet parking your bike is like the easiest thing in the world. You're in the stadium faster, even if it took you a little bit longer to get there on your bike. But let's talk about health for a second because I think it is true that you might be able to go to the gym less or maybe even to the doctor less too, if you're biking more frequently. I'm not sure if you could maybe fully go with this slogan, Matt. A bike ride a day keeps the doctor away.
- [35:07]
Matt
Could we do that 100% for that?
- [35:09]
Joel
Okay. All right.
- [35:10]
Matt
Put it on a T shirt.
- [35:11]
Joel
This is not medical advice that might actually be taking it just a bit too far. But it's kind of a double whammy, right. That's getting you where you need to go. It is keeping you fit while doing it. Sedentary lifestyles, of course, are just like a massive problem in our country. They're creating major health problems for individuals and for our society as a whole. The, the less we move, the worse off our bodies are, the worse we are as a civilization. And so the reality is cycling more allows you to burn calories. It strengthens your heart and your lungs, your muscles and Improves your mental well being. Plus it's not hard on your joints, Matt, because a lot of folks might be averse to something like running. Right. It's hard on my knees and I've never really been a runner and. But I think with cycling you don't have the same excuse because it's, it's not hard on your joints the same way, you know?
- [36:00]
Matt
Yeah, no, it's, it's good for the whole family.
- [36:02]
Joel
Yeah, yeah. Even your kids can do it. So. I don't know. Remember Matt, when we talked about the power of a quick nap recently? We talked about how just a 20 minute nap, like all of the benefits it can bring to your life. And it made me think, well, we should start napping. You're more at how to money. Well, I think maybe a little after post lunch siesta. Right? Yes. I was just thinking like a bike and nap combo regularly would kind of change our lives as individuals and then collectively because we might be a little more well rested, we might be a little bit happier and healthier. And it's amazing just the health impacts that biking regularly once a day, even short rides, it can start to make you a more fit person, just a happier, healthier person in general.
- [36:42]
Matt
Yeah. And of course all of this, I mean with healthcare costs being one of the fastest rising expenses in our lives, this translates into real savings. And honestly, like we're mostly just talking about the physical benefits here, but there's also the mental side of things. Just think about the stress that's going to melt away as you're biking, biking home and you know, rather than just feeling stressed out because you're combating like you're fighting, you're duking it out for the, you know, the spot as you're trying to make that right turn, as.
- [37:07]
Joel
You'Re crouched over your steering wheel, like.
- [37:09]
Matt
Letting your muscles harden, instead translating that like transforming it into this relaxing bike ride. Because the other thing too, like I was thinking of the fact that often we are working in our cars, like so many folks carry the work from the office with them into the vehicle, into the car. And I think a lot of folks are working pretty much like up until the second that they like walk through their door, going inside, bringing with them all of this additional stress and the drama like from the office. And so just from a quality of life standpoint, I think it's, think it's helpful to provide this, this barrier between work and home. It's a way to kind of contain that in a way that allows you to live your Life in a way, hopefully, that you want to be able to live your life.
- [37:49]
Joel
Yeah. I think it's important to mention, too, I think biking more connects us to our communities more. And the more we're riding around, the more we see our neighbors, the more we wave and the more we maybe stop and have a quick chat. I know I do. Like when. When I'm in my car, though, and I'm hurtling down the road at 35 miles an hour, if I see a friend, like, we probably don't even catch.
- [38:08]
Matt
Each other's gaze, you might wave, right? Maybe.
- [38:10]
Joel
And they might not see me. But if I am on my bike, it's guaranteed, at minimum, some sort of connection. Wave. And typically I'll stop and say hello and chat for a second. Those are some of my favorite things about biking. Are these really not super tangible? Not like it's going to save you a hundred bucks or not like it's going to do this. Like we've talked about those things. There are some real tangible ways, some real tangible health benefits and monetary benefits, but there's some harder to quantify. Community benefits I think that you will get as you get on your bike more.
- [38:43]
Matt
Yeah. These are quality of life improvements that we're talking about.
- [38:45]
Joel
Yeah. And, like, I think it just allows us to enjoy the scenery a little more, too, and enjoy the place where we live. I think that biking more just makes us feel more attached to more a part of our community. And I think that's a really valuable experience.
- [38:57]
Matt
Yeah. So it totally makes me think of Robert Persig in the art. What is Zen in the art of motorcycle maintenance? But he talks about how being even on a motorcycle, how you're more attached to where it is that you are, as opposed to being in, like the steel box hurtling along the road. Because when you're in a car and you are looking out at the, you know, looking out at the scenery that you're driving past, we often treat it in the exact same way that we treat the other images that we see on other sides of glass that we are on too much of the day, namely our computer screens, our phones and our televisions. And how oftentimes, when we are in cars. That's why oftentimes it can be so dehumanizing to other people who are on the receiving end of somebody's rage or temper, because they don't see them as people, they just see them as sort of like these inanimate objects on the other side of this piece of glass, as opposed to being on A bicycle where you're not observing the scenery passing by like you are a part of it, you are in it. And it's a lot easier to become and feel attached, like you said, to a community when you're not literally doing a drive by in a vehicle, hopefully not terrorizing those in your wake.
- [40:03]
Joel
Right. Well, I think the other thing too is there's something that shifts in your mentality. Like your perception of the kind of person you are shifts as you become a more regular biker. It's kind of like how we talk about investing, Matt. There's something that happens once you get started, once you make that first investment, and then maybe you do it two weeks again later. And then two weeks later you make your third investment and you start to become an investor. Like, you're not just investing your money now. It's kind of part of your identity. And I think the same thing happens when you start biking regularly. There's some sort of like mind mental shift that and it changes the way you view yourself and, and, and you're, you're a biker now. And that subtle change can be kind of a powerful thing. And that change almost ensures that you're gonna keep riding. Like, because now you view yourself a certain way and, and I think even some of the other elements that we talk about with personal finance, like, like gamification. Right. The more you can kind of turn your finances into a game as you're trying to improve and level up. Well, gamifying your rides can be helpful too. Like a hill that maybe was previously, like, you want to avoid it because you want it to be as easy as possible. And now you're like, no, no, I'm a biker. I want to be a good biker. I want to be a strong biker. And you're like, boom. Now I'm going to see like, how quickly I can get up that hill and I'm going to try to beat my previous best time. Those are the kind of things that I think are just a fun part of bike now. I'm like, I used to just be point A to point B, transportation on biking. And now I think of biking, yes, as that. But sometimes I want to take the longer route or I want to take the more scenic route just because it gives me more exercise, it gives me a different perspective, it gives me a better view. I feel a part of my neighborhood, my community in a different way. And so it's not always just about getting to, from one place to the other as fast as I can anymore.
- [41:47]
Matt
Exactly. There is benefit to be received from the activity in and of itself. So we talked through some of the different reasons why we love biking so much. But after the break, we're going to discuss how it is that you can go about buying a bike, plus some other tips from us with all of our years of biking experience. And we'll get to all of that, Joel, right after this. So, Joel, you know, I like the numbers. Well, here is a stat that will stop you in your tracks. Nearly half of American adults say that they would suffer financial hardship within six months if they lost their primary income earner. If that stat hits close to home, you are not alone and you are not out of options. Policygenius makes finding and buying life insurance simple, ensuring that your loved ones have a financial safety net that they can use in case something happens to you, whether to cover debts and routine expenses, or even to invest the money and to earn interest over time. With Policygenius, you can find life insurance policies starting at just $276 a year for $1 million in coverage. It's an easy way to protect the people you love and feel good about the future.
- [42:53]
Joel
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- [43:16]
Matt
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- [43:30]
Joel
Matt, we've had our share of unforgettable travel moments, but Scotland might take the cake.
- [43:35]
Matt
Oh, indeed. That was an epic trip. Okay, so for those who may not know, Kate and I joined up with you and Emily and we road tripped all the way to the isle of trip sky. We actually had a little hiccup with the rental car. I backed into a concrete wall, But I'm telling you, dude, it was worth it for the views. That's true.
- [43:51]
Joel
Yeah, that's right. Always make sure you know what you're doing with car insurance.
- [43:54]
Matt
I swear that it just popped out of nowhere.
- [43:56]
Joel
You know, it always does. Totally worth it, though, right? What an excellent trip.
- [44:00]
Matt
Yeah. Another reason I love that trip was because we stayed at this incredible Airbnb that looked out over this field. The sheep were grazing out there. Saw it. In the mornings, you could look right out to the sea. There's like islands out in the water. So peaceful. Waking up to that view every morning.
- [44:14]
Joel
You know, that trip reminded both of us how nice hosting can be.
- [44:17]
Matt
Right?
- [44:18]
Joel
Because your home might seem ordinary to you, but to someone else, it could be the highlight of their adventure. That's true.
- [44:24]
Matt
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- [44:33]
Joel
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- [44:57]
Matt
That's right, yeah. So Deleteme, it's not just a one time service. It's always working for you, constantly monitoring and removing the personal information you don't want on the Internet. Whether we like it or not, if you have an online profile or presence, we're all essentially public figures. Which is why I'm a fan of Delete Me, to take care of all of that online hygiene so I don't have to. You know, you keep hearing about these data breaches in the news. I'm thinking about the recent Coinbase data breach. And then the data brokers, they vacuum up a lot of that data, creating a searchable profile about you. They sell it to whoever wants to pay for it. Thankfully, if your data is exposed In a breach, DeleteMe can help remove it from the data broker sites.
- [45:33]
Joel
Take control of your data and keep your private life private by signing up for Delete Me now at a special discount for our listeners today. Get 20% off your delete me plan by texting money to 64000. The only way to get 20% off is to text money to 64000. That's money to 64000 message and data rates may apply. All right, Matt, let's keep talking about biking. It is the ultimate life and money hack, we would say, and we talked about at the beginning, how it is kind of like this keystone habit, how if you become a Biker. If you start biking regularly, it is going to have ripple effects. It's going to have a downstream impact on how much money you're able to save and how much wealth you're able to build, but also just kind of the lifestyle you're leading, how healthy you are and how connected you feel to your community. But you might say, listen, dudes, I don't have a bike. So we. You, obviously, we got to figure that out, because you're going to need a bike in order to make biking a regular habit for yourself. You might already have one, and it might just need some air in the tires and maybe some lube on the chain. I think that's worth considering dusting off your bike and giving it a little bit of love, taking it out of the shed or the garage or wherever it is and giving it a test ride to kind of see what it needs. And you can, if you want, look up some YouTube videos and kind of find out how to get your bike back in shape. But you might even want to take it to a bike shop first and get it in proper working order and then maybe try to maintain it from there. But, yeah, you might already find that you've got what you need on hand. You don't have to go out there and buy something new, which would be awesome. But if you don't have one, we're gonna talk about how to get a good one without breaking the bank here.
- [47:13]
Matt
Yeah, because you don't necessarily have to buy one brand new. You can buy one used. And so, like, to that end, we would recommend just, like, go old school. Like, check out a site like Craigslist, look to Facebook Marketplace. Like, you can actually, like, look at the signs in your neighborhood that start going up on a Thursday or Friday. You can actually go to a literal yard sale and potentially score a great buy check with your local bike shop. They actually. They might have some used bikes that they sell. They may not, but it's definitely worth asking. They oftentimes know of the bikes that they service and that they work on. They know whether or not folks are wanting to hang on to those or get rid of them. But once you've identified and found a bike, you've got to test ride it first. You want to make sure that it does what you need it to do, you know, like, put it through its paces a little bit so you can make sure that all the components are working properly. This is where specifically, if you are able to buy a bike, even to use one at a bike shop, they'll be Able to help you to get fitted properly.
- [48:08]
Joel
Yeah. You might even want to take a friend, by the way, with you on that test drive if you're a complete bike newbie.
- [48:12]
Matt
Oh yeah.
- [48:12]
Joel
Take someone who knows what they're doing and say like, hey, will you ride this for me and tell me if you think this is a good bike for me.
- [48:16]
Matt
You ride to work a decent bit, right? Like, tell me like you know something about bikes. Come with me please. And you can, you know, make sure I'm not making a big mistake here. But they can also help you to know that like, yeah, that one will probably work for you. Who knows how into this thing that you're getting. It's, it's close enough in sizing. You just basically like you don't want to get a bike that's way too stinking big for you, that is almost too difficult to navigate on your streets. And obviously you don't want to get something that's way too small where you've got the, you got the extra long stem like Joel does.
- [48:45]
Joel
Yeah, I'm like six, six on his bike. I need the XL frame and I, I'm like looking for a used mountain bike right now, Matt. And like all I'm seeing are medium sized frames on Facebook.
- [48:55]
Matt
Difficult to find those XLs.
- [48:56]
Joel
It's tough to find the XL.
- [48:58]
Matt
But that being said, you can also look to if you are going to buy new. We've mentioned this site before, but bikes direct.com I purchased multiple bikes from the site where the model that they follow basically is you are buying these sort of like white label bikes. They're, they're solid bikes, they've got great components and they are shipped directly to you. You've got to do like a minimal amount of assembly to that bike. But I've also had multiple friends who've purchased bikes from them and you can get a really solid bike that's not going to break the bank over there@bikesdirect.com.
- [49:28]
Joel
Yeah, let's talk about E bikes here for a second, Matt, because some people, I don't know, that's a whole other can of worms. E bikes also have been soaring in popularity in recent years. And some hardcore bikers might be like E bikes aren't real bikes. And I don't know, we would beg differ because the reality is yes, of course you get more exercise riding a bike that doesn't have a motor and a battery. But it's also true that E bikes allow for folks to get on a bike who otherwise wouldn't be Able to. And especially for commuters who don't want to arrive super sweaty. Matt, like that Georgia Tech professor. Sure, they might say, you know what? It's either an E bike or it's driving my car. And the E bike is by far the lesser of those two evils. Not that an E bike is even evil. It's not even that. But I'm just saying it is like a vastly superior choice when you're talking about those two against each other. And they can also create, I would say, this kind of virtuous cycle, causing folks to get more excited about biking in general, which leads them to ride their E bike and probably even a traditional bike more in general. So I would say E bikes are mostly a good thing in our book. They're causing people to get on their bikes again and, you know, used is a great place to look when you're talking about E bikes. Also, Rad Power Bikes makes great, reasonably priced bikes that they sell direct to consumer. I know you can, and you can even get E bikes at Costco. I can't vouch for how good they are, but I can vouch for Costco's return policy. And so if it sucks, you can take it back. Uh, and I would also say look at electric bike review.com to read and learn about specific models. They've been doing a great job for years at test driving, reviewing and discussing the pros and cons of different models. And they even have, like, a best affordable E bike section, too, which. Which is helpful.
- [51:09]
Matt
Yeah. Also, let's talk about cargo bikes. This is a style of bike that you and I both have, but they have only gotten better in recent years. And while they are going to cost more money, they truly can be a car killer because they allow you to transport not only kids who are riding back there on the long tail, but you can put panniers on there and transport groceries as well as other goods. I've even transported other bikes via my cargo bike before, but there's just lots of different solutions. And just because you're thinking, well, it's not gonna allow me to do X. Well, there's actually a good chance that somebody has done X. I'm thinking about, like, Mr. Money Mustache out in Colorado. He's actually attached a trailer to his bike. Not just like a little surly, like, kid trailer where you just, like, stick two kids in there, but, like, it's like a truck.
- [51:54]
Joel
He was, like, hauling lumber.
- [51:55]
Matt
Lumber from the hardware store.
- [51:56]
Joel
Like, loads of lumber, not some sticks.
- [51:59]
Matt
Exactly. So there are lots of creative ways to solve this problem. And it can be easy to say that biking more like that, it's going to be too difficult for you. But it's only become more accessible in recent years. And the abundance of solid cargo bikes specifically, I'm thinking of the ones that Yuba and Xtracycle that they make are evidence of this. But then other companies like RAD Power Bikes have made this even easier for folks with the Radwagon, which is what you've got, Joel.
- [52:22]
Joel
Yeah, which has been a great bike for me. I'm on my second version of the Radwagon. I had the first gen and I have the fourth gen. And it's been, you know, considering it seems like an expensive bike on its surface. But when I think about how much value I've gotten out of the bike, it's been absurd.
- [52:37]
Matt
Like it's been literally priceless.
- [52:39]
Joel
Yeah, it's been one of the best decisions I've ever made to buy this bike. And that might sound weird, but it's like. But it's for real. It's because I get so much value. I think I've put more than 4,500 miles combined on both those two bikes. And so that's a lot of going to and fro and a lot of like fun activities and a lot of just kind of point A to point B transportation that it's really provided for me. And that's in addition to the road bike that I ride almost every day. So yeah, I think cargo bikes for a lot of people can make a whole lot of sense because they can help you haul more stuff if that's what you need, whether it's kids or groceries, it's, it's worth at least looking into that. And just one other thing, Matt. I think, you know, we're talking about buying bikes. And speaking of rad, I saw that they recently launched an E bike rental service in Berlin. And it made me think that renting bikes is not typically in the best, in the best long term interest of people because, you know, like, I love what RAD is up to, but paying 80 bucks a month to them for a rental, it doesn't make a whole lot of sense.
- [53:40]
Matt
I mean, you're not talking about spending five bucks on a bike rental service when you're in a, as a tourist in a city where you're hopping from one point to the other. You're talking about sort of like this ongoing lifestyle. You provide the bike for me, I pay you money.
- [53:52]
Joel
Yes.
- [53:53]
Matt
I don't have to worry about the bike.
- [53:54]
Joel
No, no, I'd rather you own your own bike because the goal is for people to use it regularly for years on end. And bikes just. They're not like gadgets, like tech gadgets, where upgrading every couple of years gets you vastly improved features or something like that. Where if you get this year's model, well, it's going to be outdated by next year, and so you might as well just rent it. No, we would say that owning a bike is important and renting is going to cost you more. And so even though this program is only available in Europe, I guess could see this just because of the subscription models that have become abundant here in the US I could just see this kind of happening in more cities across the United States, and I could see a lot more people be like, cool, this is how I'm going to get into biking. I would rather you own your own, because I just think you're going to get enough use out of it where that makes sense.
- [54:38]
Matt
Absolutely. And, Joe, so we talked about our upstate New York listener earlier. She's biking in inclement weather sometimes. We're certainly luckier here down in the south, although it does get cold. It's nothing like what folks up in the Northeast typically experience. Although we are, again, more likely to show up to work or to the store or to a restaurant a little sweatier than most other folks. But honestly, who cares? I feel like this is one of those things that we can push to fight back on a little bit, because nobody really cares about you sweating with a little bit of sweat on your brow more than you do. And so what that is, it's sort of like what I, as I think about it, it's sort of like the ick factor, where you're just like, ugh, like, I don't want. I just don't want to show up being slightly damp to wherever it is that I need to go. But I think it's worth pointing out that it's a preference thing. It's not like I can't do this type of thing.
- [55:23]
Joel
And I. Most people, by the way, view you when you show up a little bit sweaty from your bike ride. Less icky and more like, wow, what a champ. Yes, I totally think that's the case. Most people will actually, like, there's a certain amount of respect that comes with your dedication to that and the fact that you're pushing through, even though you might not be, like, smelling like a bar of Dove soap or something like that.
- [55:45]
Matt
But there's also ways that you can get around that by just different things you keep at the office. But I mean, either way, I feel like the majority of folks, folks are going to be able to show up to work not looking like they're, you know, ready to go out on a date, especially if you're, you know, you're prepared. Right. And so no matter, like, where it is that you live, it's important for folks out there to have the proper clothing and wet weather gear. In particular, it's something that I feel that it's something I've pushed back against because I don't mind riding in the rain. Like, recently I completely got dumped on and I was like, all right, who cares? I'm just going to show up. And it's because I've got to change the clothes here at the office. And so literally, I came up, changed out all my clothes, laid out my other clothes so that they could dry by the time the day was over, and then I put those earlier wet clothes back on and I left my clean dry, my clean pair, change of clothes here in the office. But I think there's just, if you just think ahead a little bit, there's some creative solutions that, that can present themselves that allow you to do these things that at first blush, you say, oh, that's not possible, but you think about it for like two seconds longer, and there's oftentimes a really easy solution.
- [56:46]
Joel
Yeah, I got a rain jacket and I have some waterproof Chuck Taylors and that combo. Plus I've got some waterproof pants, too. And that combo gets me, you know, through. Through most rainstorms without looking like a complete mess. But yeah, and I think it's also important to mention just safety, like where you're.
- [57:03]
Matt
Oh, yeah, yeah.
- [57:04]
Joel
Proper lighting, stuff like that is. And, and, and riding on the street. Like we were walking down the sidewalk the other day and there was a cyclist on the sidewalk. And, and I understand kind of why people want to ride on the sidewalks, but it's not safe. It's not safe for pedestrians. And I know that you might not feel safe riding in the road, but something that the more you do it, the more you'll feel comfortable doing it.
- [57:23]
Matt
Especially, like you said, having the proper lighting. I mean, I always, when I'm riding in the street, like, I turn on that back blinker so that blinky is just going nonstop. And same thing with the light up front. Like, you don't need to turn on your headlight.
- [57:35]
Joel
You need a broad daylight.
- [57:36]
Matt
But flip it, you know, to the fourth push when it switches to flashing as opposed to just the solid beam of light. But it's there to help provide visibility because, yeah, you absolutely get a set.
- [57:45]
Joel
Of those for what, 30, 35 bucks on Amazon. Like, it's not, it's not expensive, so. But it's, yeah, it's going to go a long way in helping you feel safer on your bike. Hopefully we've convinced you that biking more is going to improve your life in a meaningful way. Right? Incorporating regular rides into your life. We would say it really is this keystone habit that's going to have cascading benefits for you. You're going to be happier, you're going to be healthier, you're going to be a little more fit. You'll also bring money back into your life. It's, it really is kind of this, this way in which you do this one thing and it has ripple effects into every area of how you live. And even if riding your bike more doesn't mean that you're also ditching one of your cars, that's still okay, right? You don't have to, but we would say maybe at some point you'll get so into your biking that you'll be able to ditch one of them and you're going to save even more money. And it's also important to mention that you don't have to go from like your couch to a 30 mile bike commute in one fell swoop. I think that would be. We're not laying a guilt trip on people here and saying like, get off your duff and we're not drill sergeants. That's not our jam. But, you know, start with a little grocery store run this week and see what happens. And you might find that it's kind of enjoyable and not as difficult as you thought if you bring a backpack or whatever to carry your groceries in. And by the way, Matt, we talked about this, I don't know, a couple months ago on the show. Google Maps has an update that makes it easier than ever to bike. So if you get a little phone holder for your bike too, so you can see where you're going and you can see, you know, the best route to get there. And Google is leading you turn by turn on how to get like, then it's just, it's never been easier to be a biker, even with our pitiful lack of bike infrastructure in this country. Don't let that be an excuse like get on your bike. And the more of us that do it, the more cars are going to notice and the more hopefully our politicians are going to notice. And then it just becomes this self fulfilling prophecy that bikes are going to rule the world one of these days.
- [59:34]
Matt
Heck, yeah. And one last tip too. Like you were talking about just making a quick grocery store run rather than commuting for work. We've talked about this before as well. But before you take that first commute into your office, do that on a Saturday morning, like a nice chill Saturday. I think that can be an awesome way just to get a feel for the route that you need to take. The dry run, baby, how long it's going to take you, how sweaty you are by the time you get there. These are all valuable pieces of information that are helpful to have before you then have to immediately go into a meeting or sit down and plop down and start working. But again, we're just trying to find these small, easy ways for you to get into biking. But hopefully, yeah, like Joel said, these are all tips that will help you to get biking more, not only to save more money, but just to live a happier life.
- [60:17]
Joel
For sure. All right. Because that's what we're all about here. We want people to be better with their money and. But we want people to live better lives. And it's funny, one of our listeners, Matt in the Facebook group, he recently said, oh, the show could totally be called how to live a Good life with, like, Money as an addendum.
- [60:32]
Matt
And I was like, I like that.
- [60:33]
Joel
Yeah, it's probably true. Like, we talk about things that go beyond money.
- [60:37]
Matt
Money is just a tool. And we talk a lot about this one specific tool. But there are other tools out there as well, like bicycles.
- [60:43]
Joel
Yeah. And. And that tool reaches into a lot of other aspects of our lives. And so we touch on those things too. And this is just one of them. That biking, it's gonna save you money, but it's gonna have a lot of other beneficial impacts for you too. Just like drinking good beer once a day is probably a good thing. At least for us it is a beer a day.
- [61:02]
Matt
Yeah, we can't go down that path.
- [61:04]
Joel
Yeah, no, let's.
- [61:05]
Matt
We'll stick with the bike ride a day keeps the doctor at bay. Keeps the doctor away. Did I say keeps the doctor at bay?
- [61:11]
Joel
I think you did, but that also works.
- [61:13]
Matt
No, this was Bosky lager. And dude, this is a really good beer. This was. I'm gonna read the label here. Inspired by German pilsners, and they basically talk about how it's got those noble dry hops going on. Given that classic pilsner sort of taste, what are your thoughts on this one.
- [61:31]
Joel
Dude, this was one of the best pilsners I've ever had.
- [61:33]
Matt
Oh, yeah?
- [61:34]
Joel
Yeah, I thought it was great.
- [61:34]
Matt
It was high praise.
- [61:35]
Joel
It was, like, pillowy, it was crisp. But also had, like some really nice floral hop notes coming through. And sometimes pilsners are light on that. Like, there's not enough hop presence and so it just kind of tastes like beer. But this one had, like, definitely had that, like, tastes like beer pilsner thing going on, but it had even more going on than that. And so I thought this was like a really well rounded pilsner that, yeah, I was a fan of.
- [61:58]
Matt
Yeah, fantastic. Real bright, real clean. It kind of reminded me of a lot of the lagers, a lot of the pilsners that are friends down at halfway crooks that they're making, which is very much in the style as well. But yeah, definitely a great beer. The kind of beer that you want to enjoy after a long bike ride as well. Kind of makes me, I feel like maybe should we have had a beer by Bicycle Brewing?
- [62:18]
Joel
Is that those Cycle?
- [62:19]
Matt
Cycle, yeah. Down there in Tampa or St. Pete, I think.
- [62:23]
Joel
Yeah. Or we could have had a Rattler, which. Or Rattler the other classic cyclists or.
- [62:28]
Matt
New New Belgium beverage of choice. They love bikes. They got that whole. Yeah. That whole series, that whole brand. But this was a fantastic beer. Glad that you and I were able to enjoy one today. And thanks again to Bob for donating this one to the show.
- [62:40]
Joel
For sure. All right, that's going to do it for this episode. We hope you get out there on your bike. We hope it's enjoyable. If you have any questions about biking, you can always reach out to us. We Love listener emails. HowToMoneyPodmail.com is our email address. And Matt, that's going to do it for this episode. Until next time, best friends out.
- [62:56]
Matt
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Joel
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- [64:41]
Matt
Every case that is a cold case.
- [64:43]
Joel
That has DNA right now in a backlog will be identified in our lifetime.
- [64:47]
Matt
On the new podcast America's Crime Lab. Every case has a story to tell and the DNA holds the truth. He never thought he was going to get caught and I just looked at my computer screen. I was just like, ah, gotcha.
- [65:00]
Joel
This technology's already solving so many cases.
- [65:04]
Matt
Listen to America's Crime Lab on the iHeartRadio app, Apple Podcasts, or wherever you get your podcasts.
- [65:11]
Joel
This is an iHeart podcast.