How To Money: “Friday Flight - Return Rabbits, Double Majoring, and Nihilistic Renters” (#1086)

Date: January 9, 2026
Hosts: Joel and Matt
Podcast: How To Money (iHeartPodcasts)

Main Theme Overview

In this Friday Flight episode, Joel and Matt survey the week’s most relevant personal finance headlines and trends, blending their classic wit and down-to-earth advice for regular listeners. They touch on hot topics like stricter retail return policies after the holidays (and the new cottage industry of “return rabbits”), the changing landscape of student loans and higher education (including the pros and cons of double majoring), and fascinating research on how giving up on homeownership impacts the financial habits of renters. The duo also reacts to a major policy announcement about corporate landlords from Donald Trump and ends with some real talk on banking fees and the pitfalls of timeshares.

Key Discussion Points and Insights

1. Event Spending & Budgeting: The World Cup Dilemma

• [02:00-07:10]
  • Matt shares a long-term savings story: he and his wife once earmarked funds to attend the 2026 World Cup with their kids, based on the assumption their kids would love soccer. Turns out, neither he nor his kids stuck with soccer.
    • “As we're looking at the 2026 budget... I doubt we're going to go, especially based on how expensive the prices were." (Matt, 04:43)
  • Both hosts agree it's fine to redirect savings toward new priorities: “It's like finding a $20 in your winter jacket—but it's way more than that!” (Matt, 07:10)
  • Takeaway: Planning ahead for major expenses gives you flexibility even if your plans or interests shift.

2. Retail Returns, Fees, and Convenience Culture

• [07:10-12:20]
  • Matt and Joel discuss tougher return policies post-holidays; many retailers are charging fees or making more items final sale.
    • Examples: TJ Maxx, Marshalls ($12 for online returns), Macy’s ($10 unless you’re a rewards member), Urban Outfitters, and Amazon (varies).
  • "Get those returns done and try not to get eaten alive by fees in the process." (Matt, 09:12)
  • Enter the “return rabbit”: a new service model where companies like Return Queen and TaskRabbit will process your returns for a fee (~$10 for pickup of multiple packages).
    • “Bloomberg called it an adulting tax… This is something you’re doing to yourself.” (Joel, 11:20)
  • Caution: Convenience is nice, but be wary of “optional lifestyle inflation” creeping into new areas of your spending.

3. Student Loans: Defaults, Repayments, and Bankruptcy Options

• [12:20-16:36]
  • As student loan payment pauses end, many borrowers are going delinquent. Wage garnishments and seized tax refunds are coming for those in long-term default.
    • “Wage garnishment is beginning. Those notices are being sent out this week.” (Matt, 12:53)
    • "Many borrowers are going to have their entire refund taken by the government come April." (Matt, 13:15)
  • Newer, more streamlined bankruptcy options for truly burdened borrowers are starting to make a difference—though results are inconsistent and the “undue hardship” standard is fuzzy.
    • "It's still the wild, wild west." (Matt, 15:25)
    • "Maybe you now owe lawyers fees and you still owe your student loans." (Joel, 15:42)
  • Advice: Use Department of Education resources, and don't be afraid to get professional help if needed.

4. College Costs & Double Majoring

• [16:36-21:56]
  • Joel and Matt discuss tools that help families compare college costs transparently (like the site Niche/Niche), and encourage applying for scholarships (“think hourly!”).
  • The “double major” is on the rise: double the students are pursuing it compared to 10 years ago, increasing job prospects and stability.
    • “Double majoring in four years is for sure possible if you’re a little more pedal to the metal.” (Joel, 20:09)
  • Taking extra courses when tuition is flat-rate can maximize value. AP credits can make it even easier.
  • Note: Managing workload is crucial—college is creeping from a four-year to a six-year endeavor for many.

5. Renters, Homeownership, and Financial Nihilism

• [23:43-29:14]
  • The "Ludicrous Headline of the Week" [Washington Post]: Abandoning homeownership might cause people to care less at work, save less, and take bigger financial risks.
    • “If you don’t think you can buy a home, I’m just going to yolo some other stuff.” (Joel, 24:44)
    • Matt argues, "If you were thinking more long term... that causes you to think a little bit more long term beyond not just today, beyond next year, but like years and even decades down the road."
  • Matt and Joel encourage listeners to not give up—even if you can’t buy now, policies change, and your outlook impacts your actual trajectory.
    • “If you decide, ‘Oh, I’m probably never going to own a home, so I’m not going to save like I might be able to at some point,’ you’re doing future you a disservice and you’re almost... ensuring that you never will be able to buy that home.” (Joel, 25:51)
  • Shopping for mortgages: Zillow says 2/3 of buyers don't bother to comparison shop—a mistake that can cost tens of thousands over the life of a loan.

6. Trump’s Corporate Landlord Policy & The Housing Market

• [31:20-34:49]
  • Trump’s (Truth Social) proposal to ban big investment firms from buying single-family homes sparks debate: both see some merit, but argue that increasing supply (easier building, fewer restrictions) matters more than penalizing 4% of homes owned by corporations.
    • Joel: “It's led to a dearth of starter homes for young buyers. Companies like Invitation Homes, they're not great landlords either.” (Joel, 31:24)
    • Matt: “The biggest flaw with this is... it's just based on such a scarcity sort of mindset. Right. As opposed to the exact opposite: we need abundance.” (Matt, 33:05)

7. Timeshares: A Cautionary Tale

• [35:04-37:02]
  • Despite a supposed comeback, timeshares are still a poor financial move: high costs, low flexibility, terrible resale value.
    • “They’re incredibly hard to sell if it turns out you don’t love yours… like getting an anvil off from the top of your head.” (Joel, 36:06)
  • If you must buy, get one on the resale market for pennies on the dollar.

8. Overdraft Fees & Banking Tips

• [37:02-41:05]
  • Overdraft fees rose again in 2025, with only a few big banks lowering them (shoutout: “Way to go, Wells Fargo. Proud of you.” Matt, 37:42).
  • Matt shares a story: Ally didn’t charge him an overdraft fee, but Citi did; calling a real-life human got his fee reversed after chatbots and online chats failed.
    • “Not be afraid to talk to another human.” (Matt, 41:28)
  • The best move: use online banks that charge no overdraft fees, and monitor your accounts regularly.

Notable Quotes & Memorable Moments

• "It's like finding a $20 in your winter jacket. But it's way more than that—literally. We've set aside like thousands of dollars..."
  — Matt, on redirected savings buckets (07:10)

• "Bloomberg called it an adulting tax, which I don’t know if that’s accurate because a tax is something like you’re kind of forced to pay. This is something you’re doing to yourself."
  — Joel, on paying for return services (11:20)

• "Wage garnishment is beginning. Those notices are being sent out this week… Many borrowers are going to have their entire refund taken by the government come April.”
  — Matt, on student loan delinquency wake-ups (12:53)

• "It's still the wild, wild west."
  — Matt, on bankruptcy for student loans (15:25)

• "Double majoring in four years is for sure possible if you’re a little more pedal to the metal..."
  — Joel, on maximizing college value (20:09)

• "If you decide, 'Oh, I'm probably never going to own a home, so I'm not going to save...' you're doing future you a disservice and you're almost... ensuring that you never will be able to buy that home."
  — Joel, on renter pessimism (25:51)

• “If you buy a timeshare and you hate it... trying to get rid of it, it’s like getting an anvil off from the top of your head."
  — Joel, on timeshares (36:06)

• "Not be afraid to talk to another human."
  — Matt, on getting banking fees reversed (41:28)

Important Timestamps & Segments

• [02:00] Budgeting for big events—the World Cup anecdote
• [07:10] Return policies and “return rabbit” services
• [12:20] Student loan repayment and default options
• [16:36] College cost comparison tools and double majoring
• [23:43] Ludicrous financial headline: nihilistic renters
• [31:20] Trump’s corporate landlord ban—housing affordability
• [35:04] Timeshares: why to avoid them
• [37:02] Overdraft fees and the importance of human customer service

Bottom Line

This episode is a practical whirlwind for anyone managing their money in 2026: from changes in retail and student loan policy, to rethinking big goals (like homeownership or college), to taking smart, actionable steps in your day-to-day financial life. Joel and Matt emphasize control where you have it (plan ahead, shop around for loans, return unwanted goods quickly, maximize college and banking), while also encouraging flexibility and a long-term outlook in uncertain times.

Links to mentioned resources are available in the show notes at howtomoney.com.

“Best friends out!” (41:53)