How to Money: Friday Flight - Points for Paying your Mortgage, Credit Card Consultants, & AI UBI (#1092) Date: January 23, 2026
Hosts: Joel & Matt (iHeartPodcasts)

Episode Overview

This Friday Flight episode is a fast-moving, candid round-up of the week's most interesting and impactful personal finance headlines. Joel and Matt break down new ways to earn credit card points by paying mortgages, explore the emerging industry of credit card consultants, dig into AI-powered personal finance tools, and wrestle with Elon Musk’s provocative prediction that AI will make retirement savings obsolete. Through it all, they offer their signature blend of skepticism, humor, actionable advice, and personal anecdotes.

Key Discussion Points and Insights

1. Cocktails vs. Mocktails – Not the Savings You Expect

• Dry January and Mocktail Costs ([02:05]–[04:17])
  • Study finds mocktails are priced nearly as high as cocktails, upending the common expectation that going alcohol-free will save money.
  • Quote:
    “This study basically found not really. Like, mocktails are almost as much as cocktails. And that's what I've seen when I go out and about.” – Joel ([02:55])
  • High price justified by the craft and complexity of ingredients in many mocktails.
  • Money-saving tip: Order straightforward non-alcoholic options (such as soda) if cost-cutting is the goal.

2. Credit Reports and Hiring: Fading Away in Most States

• Background Checks and Credit Report Restrictions ([05:09]–[06:41])
  • Eleven states now ban employers from using credit reports in hiring, with New York the latest to join.
  • Companies are moving away from credit-based hiring nationwide due to legal and compliance reasons.
  • Important: Credit checks may still apply to certain sensitive jobs.
  • Quote:
    "There are just fewer companies checking your credit report because it's illegal in enough states where maybe we'll just bag that process altogether." – Joel ([05:51])
  • Your credit still affects many other aspects of your financial life.

3. Student Loan Wage Garnishment Temporarily Paused

• Update on Student Loan Defaults ([06:41]–[08:00])
  • The Department of Education has paused wage garnishments for 5 million borrowers in default, recognizing persistent issues in the student loan system.
  • Borrowers are urged to resume payments as soon as possible regardless of pause, especially with new plans on the horizon.
  • Next week’s episode will feature Stanley Tate, “the student loan lawyer.”

4. New Bilt Credit Cards: Earn Mortgage Points, For a Price

• Paying Your Mortgage with a Credit Card ([08:00]–[10:23])
  • Bilt launches new credit cards letting homeowners pay mortgages and earn points, but with a 3% processing fee.
  • The fee can be offset if you generate enough points from other spending.
  • These hoops mean the card is only worthwhile for big spenders who can maximize point strategies.
  • Quote:
    “For most folks, the juice is probably not going to be worth the squeeze.” – Joel ([09:52])

5. Is the Credit Card Points Game Too Complicated?

• Time vs. Reward When Optimizing Points ([10:23]–[14:04])
  • Complexity is intentional: maximizing reward systems is like having a part-time job.
  • Hosts endorse straightforward 2% cash-back cards such as Citi Double Cash or the Fidelity card for most people.
  • Quote:
    "It's just gotten too complicated to optimize the different credit card reward systems, the points. So you're better off not trying." – Matt ([10:41])
  • Personal finance is personal—know yourself and pick systems (or cards) you can realistically manage.

6. Credit Card Consultants: Worth It?

• Who Should Hire a Pro? ([14:04]–[17:23])
  • There’s a growing niche of “credit card consultants” to help optimize rewards, but most people don’t need one.
  • Exceptions: A consultant could be worth it for single, high-cost events (like a wedding) where smart card strategy can fund a honeymoon.
  • AI tools like ChatGPT can now provide nearly the same service for free.
  • Quote:
    "If ChatGPT has all that knowledge stored, then you might not need to hire someone." – Joel ([17:23])

7. Weddings: Smaller Parties, Cash Registries, and High Costs

• Trends in Wedding Spending and Gift Preferences ([17:36]–[19:55])
  • Average wedding parties are shrinking (now about four on each side).
  • Wedding party participation costs have risen—now over $2,000, similar to a month’s rent.
  • Hosts both endorse the idea of honeymoon or house-fund registries instead of traditional gifts.
  • Quote:
    "I would rather give money to those funds than I would like, buy them some dishes or something like that." – Joel ([19:12])

8. Ludicrous Headline: $99/Month for a Tony Robbins Chatbot

• AI Self-Help Coaches and Personalization ([21:06]–[27:34])
  • Wall Street Journal reports on people paying $99/month for a Tony Robbins AI chatbot; hosts are skeptical.
  • Joel shares how uploading personal data to ChatGPT for fitness advice is shockingly effective and highly personalized.
  • Main concerns: High subscription cost and lack of genuine human spontaneity and creativity.
  • Quote:
    "But it's just a program. Trained to act like that person. ... I'm going to pass on these for now. I'm going to keep it old school." – Joel ([23:53])

9. AI Used to Slash Hospital Bills

• Real-world AI Money Hacks ([28:39]–[29:41])
  • A Medium article details a family using Claude (an AI tool) to analyze and successfully negotiate down a $195,000 hospital bill to $33,000.
  • AI can increase consumer power by exposing billing errors or overcharges, making advocacy easier for non-experts.
  • Quote:
    “AI is not great for everything. But this is one of the ways that I think folks can certainly use this technology ... to their financial advantage.” – Matt ([29:33])

10. Elon Musk and the Future of Retirement Savings in the Age of AI

• Retirement Obsolete? ([29:41]–[31:17])
  • Musk claims AI will create such abundance that traditional retirement saving will become unnecessary within 15–20 years.
  • Hosts are highly skeptical, noting Musk’s spotty record with predictions and the unpredictable nature of human work and technological progress.
  • Quote:
    “Should we all say screw it to our IRAs and our 401ks because Elon says we're not going to need them 20 years from now?” – Joel ([31:03])
  • Historical context: grand predictions about technology freeing us from work haven't panned out as imagined.

11. Should You Tap Retirement for a House Down Payment?

• White House Proposal: Broader Access to 401k for Homebuyers ([31:17]–[33:29])
  • Proposal under consideration to allow penalty-free 401k withdrawals for home down payments, similar to an existing $10,000 exception for IRAs.
  • Matt is wary; making retirement savings more accessible tends to undermine people’s future financial security.
  • Short-term goals (like home purchase) should use non-retirement savings.

12. U.S. Geopolitics and Investing Implications (“Greenland Whiplash”)

• Presidential Rhetoric and Financial Fallout ([33:29]–[40:41])
  • Ongoing U.S. political posturing about buying Greenland is driving global financial ripples: mortgage rates tick up, gold surges, markets fluctuate.
  • The broader concern: If U.S. foreign relations and global standing shift, should long-term investment strategies change to include more international exposure?
  • Emphasis on not reacting to short-term news, but remaining mindful if trends persist.
  • Quote:
    “At some point you do have to rethink your investing strategy. ... If the position of the United States in the world and in the global order is changing ... should we then approach our own future investments differently?” – Joel ([37:21])
  • Caution: U.S. economic resilience is strong, but the permanence of global relationships is uncertain.

Memorable Quotes

• “The juice is probably not going to be worth the squeeze.” – Joel, on paying your mortgage with a rewards card ([09:52])
• “It's just gotten too complicated to optimize the different credit card reward systems ... you’re better off not trying.” – Matt ([10:41])
• “If ChatGPT has all that knowledge stored, then you might not need to hire someone.” – Joel ([17:23])
• “AI is not great for everything. But this is one way that I think folks can use this technology to their financial advantage.” – Matt ([29:40])
• “Should we all say screw it to our IRAs and our 401ks because Elon says we're not going to need them 20 years from now?” – Joel ([31:03])
• “If it's super near term, hang on to that money in cash. ... Invest it within a brokerage account where you're not going to get hit with [a] 10% penalty.” – Matt ([33:24])

Notable Timestamps

| Topic/Segment | Timestamp | |------------------------------------------------------|--------------| | Cocktail vs. mocktail pricing | [02:05]–[04:17] | | Credit checks in hiring and new legislation | [05:09]–[06:41] | | Student loan garnishment pause | [06:41]–[08:00] | | Bilt mortgage payment card launch details | [08:00]–[10:23] | | Credit card reward system complexity | [10:23]–[14:04] | | Credit card consultants – do you need one? | [14:04]–[17:23] | | AI personal finance assistants | [21:06]–[27:34] | | AI for negotiating medical bills | [28:39]–[29:41] | | Elon Musk’s AI/UBI retirement claim | [29:41]–[31:17] | | Tapping 401k for house down payment | [31:17]–[33:29] | | US/Greenland geopolitical impact on investments | [33:29]–[40:41] |

Conclusion

Joel and Matt’s Friday Flight delivers insightful, practical takes on the latest personal finance news, deftly weaving in trends in credit cards, employment, AI, weddings, and even speculative geopolitics. Their advice remains grounded, urging listeners not to chase overly complicated rewards schemes or to bet their future on unpredictable ideas—whether they come from fintech startups or tech billionaires. As always, they emphasize personal financial systems that fit the individual, a balanced skepticism toward industry hype, and the importance of staying plugged in to changing economic realities.

Next week's highlight: Student loan legal expert Stanley Tate will join the show.