AmeriServ Presents: Bank Chats

Winning A Car On TV Can Still Leave You Broke

• AmeriServ Financial, Inc. • Episode 31

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On this episode of 2 Cents, Drew and Jeff dig into what really happens after you win money, trips, or prizes on a game show and why the celebration can come with a tax bill. We break down the hidden costs that don’t make it on camera, from 1099s to travel expenses to the risk of walking away with less than you think.

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Credits:
An AmeriServ Financial, Inc. Production
Music by SchneckMind
Hosted by Drew Thomas and Jeff Matevish

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This podcast focuses on having valuable conversations on various topics related to banking and financial health. The podcast is grounded in having open conversations with professionals and experts, with the goal of helping to take some of the mystery out of financial and related topics; as learning about financial products and services can help you make more informed financial decisions. Please keep in mind that the information contained within this podcast, and any resources available for download from our website or other resources relating to Bank Chats is not intended, and should not be understood or interpreted to be, financial advice. The hosts, guests, and production staff of Bank Chats expressly recommend that you seek advice from a trusted financial professional before making financial decisions. The hosts of Bank Chats are not attorneys, accountants, or financial advisors, and the program is simply intended as one source of information. The podcast is not a substitute for a financial professional who is aware of the facts and circumstances of your individual situation. AmeriServ Presents: Bank Chats is produced and distributed by AmeriServ Financial, Incorporated. 

Drew Thomas:

Okay, so this is, this is going to be kind of an interesting, I'm going to start by telling you why I wanted to talk about this, because, honestly, it's sort of out of

Jeff Matevish:

And we're not going to start out with the way left field. we've been starting out with. We're going to talk about topic today that we haven't talked about before. We tend to start everything like that now, have you noticed that?

Drew Thomas:

Are you telling me that I'm, that I'm losing my creativity? No, no, I am, but I'm just, I'm just asking you to tell me whenever that happens. No, the so I was, so we tend to watch, we tend to watch game shows in the evenings. The, everybody tends to watch like Wheel of Fortune and Jeopardy. They're on okay, depending on where you happen to be from,

they're either Jeopardy at 7:

00 and wheel of fortune at 7:30 or they're flip flopped. But regardless.

Jeff Matevish:

I'm a Family Feud guy, more than a Jeopardy or Wheel of Fortune guy.

Drew Thomas:

You know, okay, so Family Feud is a great show, but I, Steve Harvey's a little repetitive for me personally, but I, but I like Family Feud. I mean, that's, you know, and at least he's not sexually harassing the contestants, like Richard. What was his name? The guy that did it originally, God back in the 70's. I can't remember. But anyway, that's neither here nor there. Do you remember when the guy from Home Improvement was hosting it, Richard Karn?

Jeff Matevish:

No, maybe, yeah.

Drew Thomas:

Al from Home Improvement was hosting Family Feud for a while. That's not the Richard I'm talking about. I'm talking about Richard; I can't remember the guy's last name now. Somebody's going to have to tell me in the comments.

Jeff Matevish:

But you are right. Yeah, yeah, I forgot

Drew Thomas:

But yeah, he was, he was a Family Feud host there about that. for a little bit too. But no, we, so we tend to watch Jeopardy and Wheel of Fortune. And it started getting me thinking about the fact that you see these people that win all these prizes and trips and things. Wheel of Fortune has started doing sort of contestant follow-ups. So, they'll show somebody having won a car in a previous episode, and then they'll show them going to the dealership and actually picking it up and getting the, and they have a film crew there.

Jeff Matevish:

Proves that they actually won it. You know, they carried through with yeah.

Drew Thomas:

I guess you know, but it got me thinking. I'm like, you know that you never really see that side of the game shows. Like, you see people winning cash and prizes and trips and things, but you never really see what happens on the other end, whenever the cameras turn off and the lights go down and they go home, and, what do they, what do they do whenever they get the, how do they get their prize money? And what is it, what's that like? And, you know, it sounds really great, you know, we talk about finances on this show, obviously, you

Jeff Matevish:

It's never that easy. know, and you start to think to yourself, okay, you know, are all of my hopes and dreams just contingent upon me winning a couple of $100,000 on a game show, and then I can just ride off into the sunset. Is it really that easy? Is it really

Drew Thomas:

It is never that easy. And is never that great. that great? And so, what we, what we wanted to talk about today is just the, the, the aftermath, if you will, of what it's like to win something on a game show. Yeah, and now we're based in Pennsylvania, the show. So, we don't have a lot of game shows being produced in Pennsylvania. That's typically something that you see produced in California or, or, I guess maybe New York, or something like, yeah, who does some of that stuff. Yeah. So, you're, you, you're, you're, you're, we're going to talk in generalities, and we're going to talk about what typically happens whenever you win a prize on a game show that's produced in a different state, but your state could have different tax laws and things like that. So, we're just going to put that up front so that we don't have to keep reiterating the fact that it may not exactly be dollar-for-dollar if you live in Minnesota versus, I don't know, Arkansas.

Jeff Matevish:

Yeah.

Drew Thomas:

It may be a little bit different for everybody. Yeah. But in generalities, here's what you could probably expect.

Jeff Matevish:

Yeah, and that's a great way to segue into it, taxes.

Drew Thomas:

Taxes, yes. So, so if you win money or prizes on a game show, are the winnings taxable?

Jeff Matevish:

They absolutely are. Okay. They're taxed as income. Whether you win money or you win a trip or a physical prize, there is a monetary value associated with that. Yeah. So, you are taxed.

Drew Thomas:

Gotcha. So, what's so, what's the min, what's the minimum that you're likely to get taxed on? I guess is the

Jeff Matevish:

If you if, if the prize is worth $600 or more, you question. should get a 1099 miscellaneous form.

Drew Thomas:

Okay, okay.

Jeff Matevish:

And then you would fill that out and turn

Drew Thomas:

So, I didn't get the form is not an excuse, is that into the IRS, and you'd be taxed on that, gotcha. If you don't get one of those forms and you make, you know, $600 or more, you still need to tell the, the IRS. what you're saying, right? But that so, so that brings up an interesting point, because, and again, I'm going to, I'm going to, I'm going to use the, the game shows that I typically watch, but a lot of game shows offer every contestant at least a minimum win, right? So, if there's, if there's three contestants on stage, first, second, and third will all win something, right? And now it's different for I'm going to use Jeopardy and Wheel of Fortune as the examples, but there's all sorts of other game shows that do something similar. Now, Jeopardy is a little different in that the winner of the of the episode will get whatever they've won. Okay, the money, the money they've won off of their answering of the sorry, the providing the questions to the answers, if you're on Jeopardy.

Jeff Matevish:

What is yes?

Drew Thomas:

Yes, they will win that number. Second and third win, I think, two and $3,000 respectively. So, second place wins $3,000 and third place wins$2,000.

Jeff Matevish:

Sure.

Drew Thomas:

On Wheel of Fortune, you win whatever you won, regardless of whether you're in first, second, or third. So, that's the nice part. The bad part is that in some cases, especially on Wheel of Fortune, sometimes for whatever reason, you win nothing. Because if you don't solve a puzzle, it doesn't matter how much stuff you've collected throughout the, the round, if you're not the one that solves the puzzle, you don't, you don't win anything.

Jeff Matevish:

You lost. Because you've, you've, you've gotten a plane to get to that, that recording, you've rented a car, you've gotten a hotel room, so you're 1000s of dollars in the hole, and you won nothing.

Drew Thomas:

Yeah, well, and what, what they will do is they'll say, hey, we're going to give you $1,000 for, just for, just for being here, like, if you haven't won anything on your own, they'll give you $1,000 as a thank you for playing, right?

Jeff Matevish:

So, they gave you less than $1,000.

Drew Thomas:

Right. And it sounds great, right? Yeah. Oh, well, hey, just for showing up and standing here for 20 minutes and playing this game, I've won$1,000 but to your point, if you win more than $600 you got to pay taxes on it, right? Plus, again, to your point, you've presumably paid a lot of money just to get there in the first place. So, your appearance on that game show essentially costs you money. Yes is what you know, yep, is what you're looking at.

Jeff Matevish:

It's all for the experience, though, right?

Drew Thomas:

Well, there is that. I mean, you could, you could argue that, that, you know, how many people, I mean, I guess it's 1000s of people have been on Wheel of Fortune over the years. But in the grand scheme of things, how many people get to be on a game show, you know? So, you could, you always have that story to tell that you were on the show. But yeah. So, you know, in a weird way, you kind of want to win, you want to win a little something on but like in on Jeopardy, you're only winning cash.

Jeff Matevish:

Okay.

Drew Thomas:

So, theoretically, you would pay your taxes out of your winnings. And that's easy.

Jeff Matevish:

Yes, yeah.

Drew Thomas:

All right, but if you're on one of these game shows that offers prizes like, say... Well, a trip, or even prizes like, like, say, The

Jeff Matevish:

A trip or something. Because there's, or see if you can trade in for Price Is Right, where you can win a car, or you can win a teapot, you know, whatever it is, you know, a home the cash, yeah. entertainment system or whatever, right in, it's weird,

Drew Thomas:

Yeah. you kind of want to also win some cash.

Jeff Matevish:

The cash equivalent.

Drew Thomas:

Yeah. So...

Jeff Matevish:

Because you, yeah, like you, like you said you're paying those taxes on that, that physical prize. So, if you don't have the cash flow to support, you know, $5,000 in taxes for that expensive car you just won, then you're kind of out of luck. Yeah, you can try to sell that car, but you may not be able to sell that car, yeah. And then you don't pay the taxes and you're getting penalized for it.

Drew Thomas:

Yeah. And I have read stories where people have literally declined the acceptance of the prize that they won just because they don't want to have to deal with the tax implications of taking on, you know, the car, or whatever it is that they, that they, that they want, so.

Jeff Matevish:

And beyond, actually, and beyond the taxes too, a lot of times you're responsible for transporting that price. So, if you want a car and you don't want to drive it across the country, you have to pay to have it shipped back home.

Drew Thomas:

Now the, now the question there becomes, okay, can I just pick it up at a dealership near me?

Jeff Matevish:

That's true, yeah.

Drew Thomas:

You know. So, you kind of, you know, when that, when that, that voice over announcer is saying, you know, you're a new car from, you know, from, from Jim Buick. If it's from Jim Buick, right, you're right, you might have to get that back home to, you know, Maine, yeah, or something like that, and renting a rail car or something, or dropping putting 5,000 miles on your new car right out of the gate, maybe it's not something you want to do, you know. You also might not have a week to drive it home.

Jeff Matevish:

That's true.

Drew Thomas:

You know, if you flew out there, you know. So, what kind of taxes do you pay on, on winnings? Is it, is it

Jeff Matevish:

So, it depends on where you live, it depends on just state tax, or is it federal tax, or is it? where you won the prize. Yeah.

Drew Thomas:

Okay.

Jeff Matevish:

You would pay federal for, you know, regardless, but you'd pay, you know, local, state.

Drew Thomas:

Local state, right. So, you're getting dinged multiple times, theoretically.

Jeff Matevish:

Yeah, and it's all income tax, so that could bump you up in your bracket too. So, oh, good, but it could end up hurting you more than you think.

Drew Thomas:

That, that's, that, so that's a really good point. And we've, I think we've even mentioned that a couple of times on the show, when it comes to getting a raise at work, yeah, sure, where you know you, if your work, say, tiers your healthcare benefits based on how much you earn, right? All of a sudden you get a raise at work, and that bumps you into that next tier. In reality, you end up losing money because, you know now you're paying more for your health care or something like that, right, right? So, the same idea with your taxes, you know, if you're typically right on the edge of a tax bracket, or sometimes, like, if you're winning $100,000 on a game show,

Jeff Matevish:

Yeah, you're already going to be bumped up. Yeah.

Drew Thomas:

Yeah. And now, all of a sudden, you're, because you're paying that higher interest, that, that higher tax bracket on all of your income, not just what you won on the game show.

Jeff Matevish:

Right, right.

Drew Thomas:

Right. So, if I'm typically a $60,000 a year person, and I win $200,000 on my game show, I'm going to pay that higher tax amount, not only on what I won on the game show, but on my $60,000. So, let's so you have an example here. So, why don't you go, why don't you go through the example on the tax bracket here?

Jeff Matevish:

Okay, so let's say you want $250,000 as a single filer, depending on your other taxable earnings, that prize could push you, your income into the 35% to 37% tax bracket, which is the two highest. Yeah. So, yeah, you're paying 35% to 37% on your, your income.

Drew Thomas:

And that's for the Federal Tax.

Jeff Matevish:

Yes.

Drew Thomas:

Right, so $250,000, 35% will make it 35% of that goes to the Feds right out of the gate. You're also going to pay state sales tax, or state, state tax, income tax. You may have to pay some sort of a I think I correct me if I'm wrong. And I don't know if you have it in here or not, but I believe the state of California taxes you, California, on like whether you're a resident or not, if you're, if you're a winner on a game show.

Jeff Matevish:

Yes, if the game show is you filmed in California, yeah, you are paying California tax, yeah.

Drew Thomas:

So, that, you so you're getting dinged on California's tax, even though you're not a resident and you're getting dinged on your state's taxes.

Jeff Matevish:

So, we want to, we want to play on game shows that are filmed in Florida. Yeah.

Drew Thomas:

I don't know how many there are, but I'm sure there are probably a few. So, yeah, so, so you had in here, we kind of, we kind of touched on this already, but you had in here say you win an all expenses paid trip to Mexico value to$10,000 so you're going to report that $10,000 you're going to pay taxes on it, yep. And if you win that non-cash prize, you might end up owing more in taxes than you can, then you can

Jeff Matevish:

I don't think, it's not the same as gambling. afford. Which goes back to what I said, like, sometimes these people are literally saying, like, listen, you can keep the car. I don't. I don't. I don't want it. Yeah. So, is it, is winning on a game show the same as gambling? Because gambling taxes can be pretty high, and I know that they. No.

Drew Thomas:

Okay.

Jeff Matevish:

They're both considered income, but for like gambling, you can deduct your losses, but there are some stipulations.

Drew Thomas:

Yeah, yeah. That was one of the things that I was reading not too long ago, was that for people that play poker for a living, you I mean, it's on TV all the time. You see people on ESPN that are playing the World Series or whatever, yeah, yeah, and all that stuff. But they're, they're, I guess there was a recent tax change, where they used to be able to write off their losses so they wouldn't get they wouldn't have to pay taxes on what they, what they put in and lost.

Jeff Matevish:

They can write off a certain amount. Yeah.

Drew Thomas:

Where now they can't do that anymore. Oh, so there are a lot of these professional poker players. I don't know why I did air quotes. They are professional players. Yeah, professional poker players that are saying, like, hey, I don't know if I can afford to continue doing this, because now I got to pay taxes on what I lose, yeah, not just on what I win. Yeah, yeah. Whereas at least on a game show, you're

Jeff Matevish:

So, there is some. only paying taxes on what you win. If you, if you just appear,

Drew Thomas:

They'll sort of do some pre-screening to see and you don't win anything, then really, it's just whatever your expenses were to appear, you know, whatever that might have been. So, so, so, I guess that's the thing you know, if you, if you, if you're doing these kinds of things, and you're taking the, the Jeopardy test to see if you qualify as a contestant, or you, or you're sending in your video to try to be a contestant whether or on Wheel of Fortune, or you're standing out in line at the Price Is Right, and they're asking you, they'll ask you income questions, you know, really? Oh, yeah, totally. Like, if you, if you're, if you're standing out there and you want to be an audience member on The Price Is Right, because they pull people out of the audience, right? So, they'll, they'll do like, little like, it almost comes across as, like, a survey question. I've never, I've never, I've never sat there, not but I've read stories where they'll be like, oh, okay, so, Mr. Matevish, I see that you're coming here from Pennsylvania, is that right? And you're like, oh yeah, all the way from Pennsylvania. And they're like, uh huh, okay, right? And then, you know, so how, what do you do out there in Pennsylvania, you know? Like, oh, I work for, I don't know, an insurance company. Oh, really, what do you do? Right? And then all of a sudden, you know? Because chances are, if you say, hey, I'm a part-time person that works at Burger King, they're probably going to be like, yeah, your name's not getting pulled yeah, because you can't afford the taxes. That's interesting. Yeah. So, now, obviously, most game shows don't just pull people right out of their audience the way the Price Is Right does, but yeah, it's one of those things where they will.

Jeff Matevish:

To you're likely to win the prize to go up or not. Yeah. That's interesting. I didn't know that. Yeah. So, what can you do to, to what are things to consider if you're going to be on a game show? Is, can you take a cash value if you want a prize? Okay, as opposed to winning that prize.

Drew Thomas:

That makes sense.

Jeff Matevish:

Because then you can at least pay the taxes with the money that you won, as opposed to trying to sell your, a car or turn a trip in for a cash prize.

Drew Thomas:

And to be fair, I would also, I would also caution people to believe that whatever the retail value is that they tell you that, that is, that prize is worth when you're, when you're filming, yes is most likely not what the cash value is.

Jeff Matevish:

Absolutely yes. Make sure you do your research, yes, yeah. Because they want to, they're going to inflate it a little bit to make it more enticing and make them look better. You know, we gave you a$10,000 vacation to Mexico, and it's really valued at, like, you know, you know, six, $7,000 you know.

Drew Thomas:

Yeah. Or if you got it through some sort of a AAA membership, or something like that, like, it's going to be cheaper. Like, it's, you know, this, it's the, what the MSRP, the manufacturer suggested retail price, yes, right, yeah. And I think they even use that a lot of times on Prices Is Right. They'll say the suggested retail price of this item is right, and they'll say, but that doesn't mean that's what you could buy it for if you went to the store.

Jeff Matevish:

Yeah, that's the highest price they found.

Drew Thomas:

Most likely. Yeah, that's most likely true. Okay, so what else.

Jeff Matevish:

Can you one and the third one was, don't be afraid, like you had said, to turn down a price. I mean, yeah, if you can't pay the taxes, you're going to be penalized, and that's not worth it either.

Drew Thomas:

Yeah, if you can't, if you can't do the time, don't do the crime, right? That's terrible.

Jeff Matevish:

Yeah, if you can't, if you can't afford the

Drew Thomas:

Yeah, and you still get the experience. You still taxes, then then there's no shame in saying no thank you. got to be there and all your friends think you won the car because they watched you in the car.

Jeff Matevish:

They didn't watch you back, yeah. But they're going to have questions when you come home and you're driving your old Toyota, yeah.

Drew Thomas:

Well, no, so there, that is a good point, though,

Jeff Matevish:

So, you have to keep your winnings private until there. And it kind of goes to what I, what started me thinking down this road to begin with, just because you won the car on, you know, if your show is first of all, first of all, they're taped, like, let's be honest, right? Vanna White is not doing that airs? that show once a day, 280 days a year, right?

Drew Thomas:

Sometimes, I think you do, especially if you're one of these people that is, like a recurring contestant. So, depending on the type of game show, sometimes you're a one and done, whether you're, whether you're the big winner or not, you're on the show, and then that's it. You're done.

Jeff Matevish:

Yeah.

Drew Thomas:

But some game shows, like Jeopardy, will have that person keep coming back, you know, like, if you win, you get to come back again tomorrow. And you know, people think I remember Ken Jennings, who is now the host of Jeopardy after Alex Trebek passed away and all that happened, but he is still the record holder for the number of consecutive games won, and he, I think it was 74 games he won. Oh, wow. Now he was there for a while because they only tape, I think they tape, I think they tape like three shows a day for like, a couple of weeks, and then they take a break and whatever. But that's the thing, like, you know that you have to bring, like, a change of clothes and stuff, because as far as...

Jeff Matevish:

It's got to look like it's taken time.

Drew Thomas:

The next day, right, you know? But in reality, you know, you might be doing three, you might be taping three

Jeff Matevish:

Right. shows in a single day.

Drew Thomas:

Or a week of shows in a single day, you know, in some cases. And so if you're a returning contestant, they tell you like, you got to bring, like, a different shirt, or you got to bring, you know, some whatever, so that you it appears like you went home and took a shower in between these, these episodes.

Jeff Matevish:

Yeah, because they want to give the impression that it's live, yeah.

Drew Thomas:

Yeah, or at least current, yeah, right. So, but then same thing happens, like, okay, you're, you're, you're finally off the show, it takes time for paperwork to get filed. It takes time for that, so you might not actually claim your prize for weeks, if not months, depending on whether or not you know you've, if you're one of these returning contestants and you were on the show for, there was a guy that was just at the time that we're recording this, one of the long, one of the longer contestants just, just fell off of Jeopardy last night. Okay. He was, like a 31 day contestant. He got, and he got beat.

Jeff Matevish:

Okay.

Drew Thomas:

But you figure, you know he was probably he, they probably taped those in December or January of this year, the end to air 31 of those episodes with him. So, he had to keep that quiet the whole time, like he can't,8 I think there's the people that say like they're not even allowed to tell their family.

Jeff Matevish:

Yeah. Because it gets out. So, I wonder what the consequences are if you accidentally spill the beans, yeah.

Drew Thomas:

Yeah. I don't know they take yeah. I'd like to get my hands on one of the like, contestant contracts or something that says, like, what happens if the net, but you can understand, from their point of view, they don't want it getting out that you win on a 31 day streak, because it's not good for ratings. Like, the whole idea is you get people coming back to see if they want to get the next one. Yeah, right. So, if everybody knows that, oh well, you know I'm going to be on for the next 31 days. Like, you know they're not.

Jeff Matevish:

Yeah, I get it.

Drew Thomas:

But then you also can't necessarily claim your prizes until then, because, you know all your friends and neighbors are like, hey, how come you suddenly have a brand new $35,000 car, and you went on a trip to Mexico, and you, you know where you getting this when you're working for...

Jeff Matevish:

I wonder how that works tax wise, too. If you, if you won, say, say, you're on the show in December, but you can't claim your prize until you know February, March of the next year is that, you know, the next year taxes is that the previous yeah, I didn't look that up. I'm not sure.

Drew Thomas:

Yeah, yeah. So, just something, just something to keep in mind, like, I guess the, this is one of those sort of, like, lighthearted, you know, conversations about money. But just like anything you know, easy money isn't always necessarily easy, I guess is the is the lesson we're teaching today.

Jeff Matevish:

There's always the catch. Yeah, we can hit a lot of colloquialisms.

Drew Thomas:

Yeah, but the best money that you can, that you can have, is most likely the money that you earn, not the money that you find on the street or awarded, or what are awarded through a game show and stuff. And, you know, we've even had conversations about the lottery on this show and some of the expectations there, you know, like, you win a some of these mega jackpots that you see in the in the around the country, usually once or twice a year that hit, like a billion dollars now or something, you're not going to be a billionaire. If you, even if you're the only one that wins that jackpot. You're not going to be a billionaire.

Jeff Matevish:

I mean, I'm not going to complain about the money I'm going to win, but you're not going to be a billionaire.

Drew Thomas:

Fair. Yeah, that is very fair. Yeah, you're still going to win a lot of money, yeah, but when 30% or 40% of whatever you win ends up going right back into some state or federal coffer, yeah. Just keep that in mind. Like, you know, I mean, it's fun to, it's fun to dream, it's fun to play this stuff. And yes, you get the experience of, having said that you're, you're on a big game show and televised, and all your friends get to watch you, you know, compete and all that stuff. But the prizes that you win come with financial consequences.

Jeff Matevish:

And the time too. I mean, some, like you said, some of these people have been on for, you know, episode after episode after episode. Even if they film, you know, three, four episodes in a day, you're off, you theoretically, you would have a job and you're off work for, you know, an extended period of time to be on this game show. And that's to walk home with nothing and possibly not have a job to walk home to, you know, something to think about.

Drew Thomas:

Yeah, that's true. I mean, if you're, if you're, if you're going to be on it, like, say, you're invited to be on the show that, you know, it's a one and done, that's, that's a one, that's, that's something. But if you are on a recurring show, and you better make sure that you're winning enough that at least you're going to be able to float yourself until you get another job. Yeah. Because not every, not every employer, you're absolutely right. Not every employer is going to be like, oh, you were off for a month, that's okay.

Jeff Matevish:

Yeah, I was watching, it wasn't, wasn't really a game show, I guess it would be considered a game show, but it was more like a Survivor type thing.

Drew Thomas:

Those are game shows.

Jeff Matevish:

I guess so. Yeah, not, not, yeah, not a Price Is Right type thing. Okay, yeah, I don't watch a lot of game shows.

Drew Thomas:

Yeah, no, no, but I used to, I used to laugh about that with Survivor all the time. They were like, they have these people sitting there, like, I'm eating rice and I'm not sure if I'm going to survive. And you're like, look, this is being filmed by a cameraman. There is a craft services table 30 feet to your left.

Jeff Matevish:

Yeah, with the hotel, you know, right off screen, yeah.

Drew Thomas:

You're not going to starve.

Jeff Matevish:

Yeah.

Drew Thomas:

But anyway, I'm sorry, I digress. What about, tell me about your non-game show, game show.

Jeff Matevish:

My non-game show game but it spanned and over like 45 days. We'll say, like, okay, where these contestants were all living together for 45 days, kind of just like Survivor type thing. So, you know, the contestants...

Drew Thomas:

Was it Big Brother? You can say it was Big Brother.

Jeff Matevish:

It was, not it was...

Drew Thomas:

Was it MTV Cribs? You can say if it was. can get him to tag this thing. We'd be millionaires overnight. Yeah, just yeah, Mr. Beast, you can totally tag this if you want to. That's fine with us, all right, anyway.

Jeff Matevish:

But he has this game. He just finished up his when I say just finished up, but he had a second game show, or second season of his game show, and it spanned, like 45 days, or something like that, a longer period of time. And if you didn't win, you were still guaranteed $1,000 but you think about, you know, yeah, it's nice to be on, on Mr. Beast's game show, but you're walking away with $1,000 and you probably lost your job.

Drew Thomas:

For 45 days of...

Jeff Matevish:

Nothing to go home to for $1,000 is that worth it? Is that risk worth it? You know.

Drew Thomas:

Not to me.

Jeff Matevish:

No, me either.

Drew Thomas:

You know, yeah, that's, that's interesting. That's a good point. Yeah, you make an excellent point. So, all right, well, that was fun. Yeah, see.

Jeff Matevish:

I need to brush up on my game show information, I guess, learn what a game show is and what's not.

Drew Thomas:

See some, yeah. I mean, you know, I'm not saying every idea I have is a winner here, but sometimes you look at me like, I'm crazy, and then you're like, this is actually

Jeff Matevish:

This podcast focuses on having valuable kind of fun. That was a fun one. Yeah.

Drew Thomas:

See, all right.

Jeff Matevish:

Thanks Drew.

Drew Thomas:

Yep. conversations on various topics related to banking and financial health. The podcast is grounded in having open conversations with professionals and experts with the goal of helping to take some of the mystery out of financial and related topics, as learning about financial products and services can help you make more informed financial decisions. Please keep in mind that the information contained within this podcast and any resources available for download from our website or other resources relating to Bank Chats is not intended and should not be understood or interpreted to be financial advice. The hosts, guests, and production staff of Bank Chats expressly recommend that you seek advice from a trusted financial professional before making financial decisions. The hosts of Bank Chats are not attorneys, accountants, or financial advisors, and the program is simply intended as one source of information. The podcast is not a substitute for a financial professional who is aware of the facts and circumstances of your individual situation. Thank you for listening. Please check out our full library of episodes, which can be found on the ameriserv.com website. You can also download or stream the podcast from your favorite podcast app.

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Drew Thomas

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