How to Money – Friday Flight #1104: "401k Mullets, Crappy Coffee, & Bitcoin Bashing" (Feb 20, 2026)

Episode Overview

In this Friday Flight episode, co-hosts Joel and Matt serve up their signature mix of humor, personal anecdotes, and practical insights as they cover notable personal finance headlines from the week. The discussion moves from the trendiness of 401ks ("mullets for your money") to the perils of coffee snobbery, dynamic pricing, rising debt, and skepticism about the latest Bitcoin crash. The duo maintains their mission to provide jargon-free, relatable advice for everyday listeners, with a focus on actionable steps, honest takes, and a dash of nostalgia.

Key Discussion Points & Insights

1. 401k Mullets & Financial "Coolness"

Timestamps: 01:44 - 07:43

• Joel and Matt reminisce about childhood rat tails and mullet haircuts, segueing into how 401ks are now getting a "cool" rebrand, thanks to social media memes and trending styles.
• Matt: "Whatever headlines have to be out there in order to drive people to the most underrated way that majority of Americans are going to become actual millionaires. Yes, the 401k." (04:32)
• The rise of the Solo 401k is discussed, especially as more people start small businesses post-COVID. The new Roth Solo 401k options from providers like Fidelity are making higher retirement contributions more accessible.
• Joel: "401ks. IRA millionaires. That's how you're going to... It's going to happen for the vast majority of people." (04:41)

2. Crappy Coffee & The Value of Quality (Without Snobbery)

Timestamps: 07:44 - 14:13

• The hosts debate a Washington Post piece claiming that sub-$50 coffee makers always brew terrible coffee. Matt plays devil’s advocate, noting that with fresh grounds and regular cleaning, even a cheap machine can make a "pretty dang good cup."
• Joel: "Coffee is a non-negotiable in our budgets, both yours and mine." (07:44)
• Matt: "I've made some pretty dang good coffee on a very cheap coffee maker." (11:29)
• They relate this to a larger principle: sometimes it’s worth paying more for quality in items you use daily (like mattresses and shoes), but there’s a sweet spot between bargain-bin and luxury.
• Buy "once, cry once" is invoked—spend with intention, especially for frequently-used items.

3. Surveillance Pricing & Consumer Backlash

Timestamps: 14:20 - 17:24

• Joel details growing concerns over "surveillance pricing"—algorithm-driven price differences based on user data, which Americans widely dislike for its perceived unfairness.
• Joel: "Two-thirds of folks who responded to this survey said they would not shop at a retailer again if they were charged more than other patrons."
• New York's disclosure law for surveillance pricing is mentioned as a response to consumer pushback.
• Matt: "I feel like I've benefited slightly from the ability to get deals as opposed to being afraid that prices might be more expensive." (16:19)
• Advice: Track prices with tools like CamelCamelCamel, and don’t assume loyalty means best price.

4. Rising Debt: Credit Cards, Delinquencies & The Danger Zone

Timestamps: 17:24 - 24:58

• U.S. credit card debt reached a record $1.28 trillion, with delinquencies rising across income brackets and loan types, not just among lower-income borrowers.
• Matt: "It's just so difficult to overcome a 20 plus percent interest rate. These are not the escalator steps that we want you running up as it's coming down." (18:04)
• The hosts firmly reiterate: carrying a balance is never "okay," and even "manageable" debt is a drag on financial progress.
• The FTC’s consumer protections against abusive debt collectors are highlighted, emphasizing everyone's right to fair treatment and information.

5. Ludicrous Headline of the Week: Claiming Pets as Dependents

Timestamps: 25:39 - 29:06

• The Washington Post's clickbait article about whether pets can be claimed as tax dependents is skewered. Joel and Matt make clear: "No, your cat isn't your child"—the IRS requires dependents to be human.
• Matt: "Most Americans probably agree. That's why pets don't get Social Security numbers." (28:35)

6. Skyrocketing Babysitting Costs; Solutions for Parents

Timestamps: 29:06 - 31:16

• National average babysitter pay has hit $26/hour for one child, $30/hour for two—prices that stun both hosts.
• Solution: The "date night swap"—trading free sitting with trusted friends—is championed as a cost-saving alternative.
• Joel: "It saved us so much money and just made date nights more regular and more affordable." (31:00)

7. The "Gray Economy": Older Americans' Spending Power

Timestamps: 31:16 - 33:21

• Older Americans (boomers) are spending big, fueled by stock and homeownership gains. The episode frames this as both an enviable goal and a reminder that financial independence is rooted in owning appreciating assets.
• Matt: "Ownership is really crucial, man. Like, we want folks to be owners. We want you to buy stocks, buy rental properties. If you're so inclined to be a real estate investor, we want you to build that wealth." (32:16)

8. Prediction Markets, Gambling, and Social Costs

Timestamps: 33:21 - 39:42

• Explosive growth in "prediction markets" (like Kalshi) during the Super Bowl is viewed as a sign of America's accelerating gambling habit.
• Joel: "This just, Matt, feels like peak gambling insanity to me." (35:41)
• Matt optimistically hopes it’s just a shift from other spending, but both agree the social consequences are concerning—especially as gambling gets easier and more addictive online.

9. Bitcoin Bashing: Crash, Perps & Caution

Timestamps: 39:42 - 42:34

• Bitcoin’s price has crashed, in part due to "perps" (perpetual futures contracts) causing forced selloffs, highlighting the risks of leveraged cryptocurrency speculation.
• Matt: "The moral of the story: even if you believe in the future of bitcoin, the gambling-esque behavior that we're seeing exhibited in the space is very unsettling." (39:42)
• The hosts reinforce their strategy: if you dabble in crypto, keep it to 5% or less of your investments—no leverage, no FOMO.
• Joel previews a possible interview with outspoken crypto-skeptic/actor Ben McKenzie.

Notable Quotes & Memorable Moments

• On 401k Trendiness:
  "We're all about making the 401k sexy again. I think what, I'm all for it. Whatever it takes, man." – Joel (04:13)

• On Consumer Debt:
  "It's not normal. And the quicker we get rid of it, the more easily we're going to be able to make progress towards all the other financial goals that we have." – Joel (19:30)

• On Coffee and Spending:
  "Sometimes we look to the cheapest replacement ... but you got to find the sweet spot." – Matt (13:46)

• On Dynamic Pricing:
  "There's a general idea of unfairness that people hate ... like, wait a second, Sheila just came in here before me, and she paid 20% less than I did." – Joel (15:01)

Timestamps for Key Topics

• 401k Mullets & Trendy Finance: 01:44 – 07:43
• Coffee Quality & Spending: 07:44 – 14:13
• Surveillance Pricing: 14:20 – 17:24
• Debt, Delinquencies, & Rights: 17:24 – 24:58
• Ludicrous Headline: Pets as Tax Dependents: 25:39 – 29:06
• Babysitting Costs & Swaps: 29:06 – 31:16
• The Gray Economy: 31:16 – 33:21
• Gambling & Prediction Markets: 33:21 – 39:42
• Bitcoin, Perps, & Investment Caution: 39:42 – 42:34

Closing Thoughts

The episode delivers relatable, timely insights on managing money with both common sense and personality. Whether poking fun at current trends, sharing parental hacks, or issuing stern warnings against debt and risky speculation, Joel and Matt consistently advocate for earnestness, informed choices, and cultivating habits that benefit your future self.

Best Takeaway:
"Nobody cares about my money as much as I do... it takes individuals wanting something better for themselves." – Matt (22:51)

More info & resources:
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