The ConverSAYtion
The ConverSAYtion is simply a couple of middle aged men sharing company and conversation. Psych and K take their time sorting through so much to say about society, culture, relationships, education, finance, technology, health, and more. Inspired to find engaging ways to entertain and enrich the lives of their listeners is their primary pursuit. Join them as they invest themselves in providing value to their audience. Welcome to The ConverSAYtion.
The ConverSAYtion
Loan Sharks in Digital Clothing
Is financing your fast food a sign of modern convenience or a dangerous new debt trap? In this thought-provoking episode, we dive deep into the controversial partnership between Klarna and DoorDash that's changing how Americans approach everyday purchases.
Klarna, a Swedish financial technology giant valued at $15 billion, has built an empire by allowing consumers to "buy now, pay later" without traditional credit constraints. But what happens when this model extends to your daily Taco Bell fix? We explore how these companies sidestep credit regulations through clever business models that charge no interest but profit handsomely from merchant fees and late payment penalties.
The psychological impact of these services can't be overstated. By removing the immediate financial pain of purchases, they create a dangerous disconnect between spending and consequence—especially for younger generations already influenced by unrealistic social media lifestyles. When 59% of Americans can't cover a $1,000 emergency, should we be normalizing debt for non-essential purchases?
We don't hold back in examining the predatory nature of these services. While they present themselves as convenient financial tools, the reality is more complicated. The companies claim they're meant for larger purchases, yet 75% of their business comes from everyday transactions. This creates cycles of dependency where consumers find themselves paying for last week's meals with this week's paycheck.
Whether you're financially secure or living paycheck to paycheck, this conversation offers valuable perspective on the changing landscape of consumer credit and the importance of approaching these tempting services with clear eyes. Are these companies offering helpful financial flexibility or simply rebranding the predatory payroll advance for the digital age?
You don't gotta do it if you don't want to.
Speaker 2:You don't gotta do it if you don't want to. You don't gotta do it if you don't want to. It's just a suggestion. All right, my turn, my turn, let's have it First off. First off, that wine was meh. It tasted like, tasted like you know, just grape juice that was starting to turn.
Speaker 1:Yeah, it's not exceptional, by any means. It's drinkable. I drank it. Yeah, it's drinkable. It's not something I didn't immediately want to spit it out.
Speaker 2:One of my favorite things. Henry Winehart's Root Beer Famously moved to root beer and gourmet soda during Prohibition Winehart's. That's how that became a thing. That's why we have soft drinks yes, and the cap which I hope is a twist off says you can't prohibit genius. I like that. I like that.
Speaker 1:Okay, there are places that carry their beer. I've had it. What do you think of their beer? It's beer, I mean not bad, bad.
Speaker 2:Okay, so have you heard of the company clarna?
Speaker 1:oh, you're talking about the um, the one where you can uh, oh, what's it called? Buy now, pay later. Buy now, pay later. This is yeah, they're huge. I've used them. I use them yeah, so.
Speaker 2:So it's Klarna. For people who don't know is a, is a company that skirts the the regulatory process of being a credit card company with their buy now, pay later format by not having APRs or fees unless you're late with your payments. So they've got, this is their website. They've got, they've got a few different formats, uh, and you can shop securely and they basically will buy it for you and you just got to pay them back. Um, you can do it either immediately and for interest-free payments that's how they get away from away with what they're doing or in, you know, over the period of 30 days, has to be over $35. And it's something that, like you said, very popular 4.8 out of 5 stars in the App Store. The reason that I want to talk about this is this article here. It talks about the fine prints of clarna's recent, recent partnership with doordash I heard whispers of that.
Speaker 1:Yes, I, I didn't look into it, but I heard that was coming.
Speaker 2:So it is already happening. It's a thing now. They started last month and now you can use Klarna to get food from DoorDash and pay it off over the course of the next 30 days or in four easy payments. Yeah, and you're.
Speaker 1:You know, yeah, your response is yeah, people are already doing that with credit cards. They're already using their credit cards and or misusing their credit cards to pay for things that they cannot afford. Meals and food are on that list and probably one of the biggest things on that list of credit card use cases, if there's a way to do it, where I know you talked about with finances and you're huge on this and you gave excellent financial advice, even though this is not financial advice about having a plan. You go into a purchase with the plan is established first. Then you make the purchase, then you execute the plan to repay whatever card you chose to use clarna affirm after pay, sezzle everything. All of those brands gosh, you rattled them off too, yeah companies, that that's not a good sign.
Speaker 1:I've looked into it. I've looked into it some. And if they can exist to give a consumer a way to have a built-in plan and avoid the interest, then I think that's a better option than using your credit card.
Speaker 2:So thinking about using a credit card is. It's an accepted means of its credit. The stipulations attached to this buy now, pay later it's more akin to payroll advance. So my take on this is that this is extremely predatory and the fact that they are partnering with food delivery places is just expanding the predatory nature of the financial markets of the United States. The financial markets of the United States, because now you're being told you can finance a trip to Taco Bell. That's what I want to get your take on, and we can include credit card companies with this as well.
Speaker 2:But the world that we live in today is being told that they don't have to do anything right now. You can work for it, you can work towards it, you can. You know, I got you the. You know the. The. The bro aspect of the financial markets these days has got this whole, got people convinced that they're their friends. Oh, oh. You can't. You can't quite afford that. That five guys delivery uh, I got you, I got you. Just pay me back in the next 30 days or it's going to be seven dollars, um, uh, late fee, and you can do that as many times as you want. No worries, if you want a door dash 30 days in a row. Uh, you just got to make sure that each one gets paid in time or everyone incurs a seven dollar fee and and then it goes to collections. But now you're not going to do that. That's cool. Just the predatory nature of that whole thing. What is it doing to? To, to our ability to understand the value of economics in this country?
Speaker 1:Yes, I think the societal and cultural and psychological implications are the biggest ones that everyone's avoiding. Because when it comes to Klorna and all of the other buy now, pay later places and companies, then naturally a response to that would be we also have to get on those sites and those apps so that we can continue to compete. But you're just talking about the business model of these companies.
Speaker 1:So that's why I'll get into the. What is it doing? It's harming people, especially youth, especially the younger generations, because they're already set up for failure, given that if you live in a middle class to upper middle class, or maybe even an upper class family, the lifestyle that you have become accustomed to is not one that was built on these platforms and these methods. If you grew up in a home where there was a stable income and you were cared for and the lights never went off and you had central heat and you didn't have pests and rodents and you never, ever were concerned with where your next meal came from, and so on and so forth, and you had luxury items, you took vacations, you had trips, you drove in fine automobiles, you lived in a comfortable environment at home, when you move away, when you become an adult and move out of that environment, you're kind of locked into this mindset where, huh, I want that stuff, but you don't have a method or means to be able to acquire everything that your parents or your family worked so hard for to achieve. You don't necessarily realize and think, oh, it took them decades to do that, it just didn't happen overnight. And so people are thinking about how can they get there faster.
Speaker 1:Social media is definitely doing us a disservice when it comes to what people are bragging and boasting about online. What's on the internet. People get on a plane right, it's a private jet that they just chartered, so to speak. Many people you know they slip some guy in an airport $20 bill. Hey, I just want to go on and take a 40, 40 second video and then they're done. Or they're buying designer clothing, they're putting on their credit card and then they take it right back to the store after they show you whatever their. Their Gucci haul was Right. It's it. It's not real. Everything that's out there isn't real. People are trying to keep up with the joneses, so to speak. People are trying to stay relevant. People are trying to make a life for themselves and they want more than that they've earned, and that is a message that is terribly harmful to society.
Speaker 2:That's just a symptom that what I'm talking about is allowing, and that's you know. Yes, people are always going to try and manipulate others. You know, the TikTok influencer is the modern day grifter. They're playing shell games with people. I mean that's a good point and that's not what that's not. I mean that's a good point, but it's not really what I'm after.
Speaker 2:I want to get back to the predatory nature of what this means to society. You are correct in saying that it's telling people that they can have it now, even though they can't necessarily afford it, or maybe they shouldn't be trying to achieve these things. And the long game, the long problem with that, is that people get into society at a young age and don't realize how much work it took for people who are older to achieve the level of success that they have, to achieve the level of success that they have. And it's middle, upper, upper, middle, middle, upper, upper, upper, upper. Those class people. And it's like a shock.
Speaker 2:But I'm not saying those people can't just be like, hey, mom, I didn't realize this was going to be so hard. Can you help me out? Poor people, middle, lower, lower class they're the ones that are being there, that are that are being, uh, negatively affected by this, disproportionately the. The way that these things target the people who can't, who can't and probably won't be able to afford these things, are what is the real problem, in my opinion and here's's an example, it's like this I don't have the money to go to the supermarket to buy a loaf of bread, some mustard cheese and some lunch meat.
Speaker 2:I don't have that money, I can't go do that. But I've got this thing on my phone that lets me order a $40 sandwich from Subway. Okay, well, and now why would I be concerned? Money's not real, it's just. I just punched in some buttons on my phone. So it's like gambling. It's like going to a casino. They give you chips. It doesn't feel real, it just goes easily. And now is this company at all concerned if that person does that several times and gets into the trap of now? I still can't afford sandwich-making stuff in the supermarket, but now I also owe a few hundred dollars. I also owe a few hundred dollars. What so? And I will say this I read this article about Klarna, specifically how every single purchase goes through a financial approval process to make sure that you can afford it. But what does that look like? And how does it decide whether or not you can afford to DoorDash?
Speaker 1:I don't know your example of purchasing groceries versus purchasing a sandwich that's already put together from wherever they get it from those. Both of those options currently exist on on doordash and uber eats and grubhub. So if a person wanted to get the groceries using clarna which, if you're without food, is a wiser decision get the groceries so that you can save money over time. You can have multiple meals and it's not just this right now, in this moment and then you're still without groceries and you don't have a next meal and you've already committed that money, and now you might have to make another purchase which is going to continue the cycle that you're in.
Speaker 2:The predatory tactics continue, though. So is DoorDash trying to convince you to buy a week's worth of groceries, or are they trying to get you, convince you, to buy from fast food place every day of the week?
Speaker 1:I, I don't think they're going to that extreme, but I and I I am of the belief that, yes, their business model is like layaway at kmart 2.0, it's except you know you can make payments and you get the stuff now. You get to walk away with it right now, you get it right now. We live in this world where it's instant, instant gratification. So, yes, they do want to. They are selling you this idea that you can have it right now.
Speaker 1:It is attached to a plan and sometimes that plan is perfectly fine and there's nothing wrong with it. You get paid every. If you get paid every two weeks. If you bought, if you made a commitment to buy something on a payday, you, you, you, you buy it and you pay one fourth of it right then and there, so you're already, you only have 75% of whatever the item or thing or service costs, and then, if you get paid in two weeks, a 25% of that is due in two weeks. I mean this, you have to, you have to be smart about it. But if you're already in the habit of making poor choices and poor decisions, then, yes, it could be quite easy to succumb to that and that's where I agree.
Speaker 2:That's where the predatory aspect comes into play. You said it yourself you have to have a plan, you have to be smart about it, but no, you don't. Nothing about the way that this works or the way that this company is profitable says you have to be smart about it. In fact, it discourages you being smart about it actively. So in this article that I read about this, klarna stated that this is intended for larger purchases. Yes, doordash can give you groceries. You can actually buy electronics. They'll deliver Best Buy stuff, things like that and that's why they set the limit at $35, which, to people with DoorDash, it's going to go over $35, even if you're just getting freaking cheeseburger meals at McDonald's.
Speaker 1:Well, the limit was $35. The minimum was $35, even before DoorDash.
Speaker 2:That's their thing. They're trying to tell you that it's because it's intended for larger purchases, but they also state in the same breath that that amounts to 25% of their business, which means 75% of the business. Is people just trying to get jack in the box? I'm telling you, they're keeping quiet about the intended purpose of this and letting people make their own decisions. Which people should be allowed to make their own decisions? Make their own decisions. Which people should be allowed to make their own decisions? This is America, but the fact that it exists and allows for that kind of predatory tactic. And now, in two weeks, I have to pay this off. I got paid and the first thing that I'm doing is buying several delivery meals from me from last week.
Speaker 1:So question are you against Klarna as a company in general, or are you just against their recent partnership with DoorDash?
Speaker 2:I don't believe that. I don't agree with this business model. I don't like it.
Speaker 1:I think Klarna as a whole or Klarna on DoorDash.
Speaker 2:No as a whole, the whole thing. Okay, no good. It's just rebranding the payroll advance, which is one of the worst, most predatory concepts in American finance, in my opinion, and it's making it easier to push of a button and it's making it seem like it's no big deal because it's partnering with all your favorite things.
Speaker 1:Sure, I would offer that. There are those that have used things such as payroll, advance or credit, in this case that, but they don't always have to. They don't always need to. They're able, their life improves, their life changes their financially. They're in a different place and while they may have once found a use case for that, it doesn't, it doesn't mean that they're going to be this perpetual user. They they're going to have a chronic problem with hey. Oh, I just need to buy something now so I can make three more payments on it in the next six weeks, right?
Speaker 2:So you're not talking about the majority of people. Yes, some people do find their way out of the trap that these kinds of companies create, but most people don't. They get like the payroll advance thing. You know it's something that you get sucked into and you're always trying to. You're always trying to catch up to today and it's almost never possible, and you're giving away a percentage of what you earn on that.
Speaker 2:I like that. This doesn't actually charge you to do it. But the same concept applies in that you are allowing people to decide on this instant gratification and you're making it okay and you're making it universal. Now, it's everywhere, because now, like you said, all these companies are everywhere and people. You know, in a perfect world, people would be able to make the decisions that benefit them in the long run, and that is just not the way most people make decisions, and so and so, and so I find this, this whole thing, to be to be a nefarious tactic. To be a nefarious tactic because because people can't and, sad to say, people can't, uh, can't be be trusted to, to do right by themselves in a lot of cases, and so things like companies like this pop up out of the ground like weeds to uh take advantage of that.
Speaker 1:I don't think. Well, I don't think they started their company with the premise in mind or the idea in mind that let's go take advantage of the disadvantaged. I'm pretty sure they did. I don't think they did. At the very least, they're never going to admit to it.
Speaker 2:But let me look at their about stages. We here at Clorida really want to take advantage of the disadvantage.
Speaker 1:Be that, as it may. If you are providing such a service that requires that people can continually buy things and continually make complete, large transactions so that you can earn. I'm sure they're. They're getting. They're getting a little bit of a kickback from all the partnerships that they have, right? Doordash is like oh, they use Klarna, okay, now they're making a percentage off of that sale and you need larger transactions. You need people that have a lot of money at their disposal that they can continue to engage in consumer shopping. Otherwise, as soon as you eliminate the disadvantaged pocketbooks, as soon as you exhaust their resources to the point where now they're in collections, they don't have any more, or the payments have become unmanageable and unbearable, well then, now they're not somebody that can continue to use your service at all, so it behooves them to make sure that they're not doing that.
Speaker 2:I don't think so. Yeah, I don't think so at all. I think that they're doing whatever they can to make as much money as possible and, as you said, people's misfortunes tend to be cyclical, and so they probably have written into their business model that a percentage of people will need to stop using their services temporarily because they become so financially distraught that they're bankrupt. They can't afford to do anything, including buy stuff and pay later, and then they'll come back around when things work out and they'll just go back to doing this and it's like an addiction.
Speaker 1:Well, those people are going to be involved and stricken with that addiction. Be involved and stricken with that addiction, regardless of the method or the platform that allows them to make those purchases right. They're going to use those payroll advance places. They might ask their employer for a payroll advance. They might exhaust all of their credit cards and max out everything. They're already doing that. They're already doing that.
Speaker 2:They're already doing that. That just further proves my point about how we can't, as a society and individuals within that society can't, make decisions that have our own best interests at heart in the long run. And these companies are identifying that and exploiting the loophole that's in our society.
Speaker 1:If used properly, it could be.
Speaker 2:Okay, everybody start using these fucking things properly and I won't have an argument.
Speaker 1:It could be an argument, yes, it could be an exceptional budgeting tool. They've tapped into how often people get paid right. If you make the purchase on your payday and you pay it again in two weeks and your next payment's due in two weeks and it's something you can afford, then this is a plan to repay.
Speaker 2:I also don't like that their one-time credit card system is called the K-Card. Not a fan.
Speaker 1:So I take it, you've never even experimented using those at all?
Speaker 2:You wouldn't need to. You wouldn't need to. I'm a member of the 0.5 alcohol included percent of people that yeah.
Speaker 1:There's nothing about that that entices you or no? You wouldn't find any of it attractive.
Speaker 2:It's unnecessary, and so I just purely find it to be distastefully predatory for the people who want and need things and have no other means of getting them. But we're just, we're sliding in and being like, hey, we're close, right, I can help you with this. You just got to get me later. It's very, it's very loan sharky in my, in my opinion okay, I think there are, there are perhaps.
Speaker 1:Maybe these stories are outliers, but there are people that, hey, they were, they were out of work for a month or a period of time and they were about to start a new job and there was going to be some sort of a signing bonus or there there was a settlement, or they knew money was, they were going to come into it later and and it works for them, or perhaps they they were using this as a method to help them out with a business and venture venture that they had, where this, this is kind of going to help us start things up. We're going to buy tools or equipment or things that are going to help us get off the ground now so that we can progress and get going. I admit those, you know, I don't know how many of those exist.
Speaker 2:You're so good at coming up with the, with the outlier, one-off made-for-TV movie scenarios, that's your big thing.
Speaker 1:Next month Klarna on Netflix BNPN, bnpl, bnpl They'll just rebrand it. Who owns Klarna?
Speaker 2:Is.
Speaker 1:Klarna, a United States company.
Speaker 2:That's a really good question. I like that question. Let me ask ChatGPT.
Speaker 1:Yeah, I wonder who owns them. I know some of them have restrictions on what countries you can purchase things from swedish.
Speaker 2:They're swedish, yeah, okay so, and and I've seen too, so I'm not the only person who who feels this way. Um, there's legislation going through the new york state senate right now to regulate these companies, because these companies, like Klarna, are getting away with not having to adhere to the credit card regulatory system. It's a loophole. Yeah, they've loopholed it. There's places that are trying to close it. I'd be curious to see what's going on. And it's not, it's not. What am I trying to say? It's not, it's not. What am I trying to say? Gosh, darn it, kate, it's not. You know, it's obvious that I mean this whole thing is coming from a Democratic state, because I think the Democrats are most and their whole thing is realizing that people can't really care for themselves, so they've got to do it for them. And so, yes, this is totally a protecting people from themselves kind of legislation, because they identify that these, these kinds of things are dangerous yeah, new york's good for that right.
Speaker 1:They tried to restrict six sodas over 16 ounces and all sorts of things in new york, like it's so bad for you and you don't know what to do with yourself so california is the same way.
Speaker 2:yeah, yes, we used to have have Pizza Hut and Taco Bell carts at my high school, and then they passed a law where you could only put healthy snacks in the vending machine.
Speaker 1:I think a larger discussion based on this is okay. Once we identify things that are bad for people, to what extent are the society responsible for changing people's behavior against their will?
Speaker 2:yeah, yeah, yeah, that's the thing, yeah, it's it's. People fight against it because, like, hey, don't tell me what to do, I'll fuck up my life if I want. Oh, here we go. Um, clarna was getting ready to to uh set up their ipo and they just postponed it because of the tariffs. Because of the tariffs. Apparently, us tariffs have disrupted the ipo landscape. That's interesting. They were aiming for a 15 billion valuation. Does that sound like something your homie does? Your homie's just floating you a sandwich from Burger King and they're worth $15 billion.
Speaker 1:That's quite a bet. So I was just looking up some of the BNPL companies so Affirm oh no, sezzle's from minnesota, minnesota a firm is from san francisco sorry bro, I was never stopped to think that it's gonna totally block your screen after five seconds after pay sydney, australia.
Speaker 1:Okay, so there's a firm after pay clarna, sezzle paypal zip. Suzzle PayPal Zip. That's an interesting spelling for split it, split it, openpay Uplift. Hokodu is in London, tabby LazyPay. Lazypay is from India. Layby Billy LatitudePay Pay Later with L, the number 8, and R Pay Later. Oh, jesus Christ, patty, tamara, capcash, payflex, beforepay Twisto. It just goes on and on.
Speaker 2:How many of these are actually in America? This just tells me that other countries have got us figured out and they are totally profiting off of our ignorance of the fact that they're manipulating us.
Speaker 1:Okay, uh, okay, so I'll read the the countries we like california, london, middle east, india, new zealand, germany, australia I want to say Austria, there the UK, latin America, colombia, brazil, mexico, japanese Middle East. Yeah, most of them are from other countries, one American company. Us, south African, Australian, european. Uk-based UK-based Sunbiz from Los Angeles, primal Health Credit, newport Beach. Okay, us-based Perpay, us-based Visa Installment Solutions. So Visa's in the game and MasterCard has their own installment solutions. Paypal's probably one of the big US ones. It's probably one of the bigger uses.
Speaker 2:So I use PayPal. I use it a lot, but I don't use it for any kind of credit, I just use it to facilitate purchases, you know. Tie it to my debit account.
Speaker 1:So PayPal often has, if it's over $100, six months.
Speaker 2:your percentage, yeah they always offer me the no percentage stuff. You can also do the installments and it's just a way to get you to buy bigger stuff because they're making money on it. No interest, you're not the reason they're making the money. They're getting kickbacks from the company.
Speaker 1:Well, Klarna has a fee per transaction they didn't used to. It's a $2 fee.
Speaker 2:Oh shit, now, on top of my DoorDash cheeseburger, that's already costing me 18% more than it was. If I just walked down the street and got it myself, I got to pay two more dollars.
Speaker 1:It's a $2 fee, but they're trying to push their Klarna everywhere or anywhere. Basically, it's like an $8 fee per month. It's a. It's like an eight dollar fee per month. It's a subscription fee and it allows you to use a digital clarinet card to make purchases in stores anywhere. You just go, break out your apple pay, break out your wallet, apple wallet, paper things.
Speaker 2:Right then and there man, okay, that makes it worse, because now they're just profiting off of every single purchase, as well as as uh and all those other companies.
Speaker 1:They're doing the same thing. You can add digital cards into their wallet. They have a. Usually they have some sort of subscription based uh option that allows you to make visa and or master card and they have a master card purchases there there's their sub.
Speaker 2:You can pay 90 annually for their for this. For carna subscription yeah, so you're subscribing to the ability to to keep yourself perpetually in an incremental debt. Not a fan.
Speaker 1:However, when you compare it to traditional credit cards, it's less. Yeah, I would agree with that. You purchased a $2,000 television, right? Yeah, I don't know, before the Super Bowl. It's a Christmas present for the family, or what have you. And you got your, you know, five hundred dollar work bonus and OK, let's, let's, let's do this. Now. It costs you two dollars to make the transaction, assuming you're not a subscriber to Klarna. And hey, you've, you've, you've got the whatever. It's a, it's a, it's a. You can afford it, you have a plan to do it and it's going to cost less than putting it on your, your visa card and they.
Speaker 2:So they make most of their money by charging a fixed fee of 30 cents per transaction to the merchant, plus a variable fee they had to, ranging from 3.29 to 5.99 percent of the transaction amount. So yeah, clarna wants you to get this in your hand. They want to make it easy for you to do. But if you're, if you're taking your clarna to local businesses, they're being charged up to six percent of the purchase price if they, if they choose to accept clarna or whatever company, yes, it's, it's just like piece of mastercard.
Speaker 1:They or american express their discover if that, if that establishment accepts them, then they have to pay to play yeah, but man, six percent.
Speaker 2:so your two thousand dollar tv is going to cost the business the business 120 dollars to sell it to you. It's a trend, it's a tragedy. Gosh, I feel blessed that I'm financially stable enough to not have to consider these things to survive.
Speaker 1:So what was your first introduction to Colorado? Was it this article, or how did you hear about it?
Speaker 2:I read the article about the DoorDash.
Speaker 1:Oh, gotcha, gotcha. Yeah, the DoorDash thing, yes. If so, if you have to put food or just basic necessities, just you know, consumer products or things that are you're gonna, that you're gonna use, and then you can't use it anymore, unc that's, you probably should admit there's a problem somewhere, whether that's you have a debt problem, maybe you have an income problem, you're just not making enough money, maybe you're just making all around poor financial choices. You should recognize you have a problem.
Speaker 1:Now, if this thing broke in the house, we need this. Okay, I wasn't expecting it and I'll have the money for it in the next three weeks, but this will make think this won't blow the rest of my budget because, uh, because I don't have to put out the entire amount right now. There's so many people that don't have. You know, if your paycheck paycheck, which is the vast majority of the people in our country and if you have, maybe you have only a thousand dollars of surplus in your account at the time and that's an emergency and you don't want to get rid of that in that moment, in those things it could help, right, yes, yes, and that's, and that you know your oven breaks and you need to replace it, right?
Speaker 2:That kind of stuff is what credit is for Major purchases. Very few people have the money to make a massive purchase. You know financing cars, houses, appliances, but that's not what we're using it for. No, no, no. We're using it to go to fucking Chick-fil-A. That's what we're using it for. No, no, yeah, we're using it to go to fucking chick-fil-a. That's what we're using it for. Chick-fil-a is worth it. I've never been what?
Speaker 1:oh the? So it's restaurants that start with the letter c chipotle, chick-fil-a. You know what we should do lunch and dinner never been to cracker barrel. Oh, what was it? What was the movie you were talking about the last time we were together? It was, I forget. I was just going through the transcript of her last. I get enamored editing the transcripts on her podcast. I'm going through it line by line, just cracking up.
Speaker 2:Yes to that too, every time 41% of Americans say they could cover a $1,000 emergency bill using their savings. Yeah, a decline from 44% last year. Well, okay.
Speaker 1:This is some Dave Ramsey stuff you're getting into. This is like the baby steps.
Speaker 2:Yeah, yeah, yeah.
Speaker 1:How to use your money appropriately.
Speaker 2:Yeah, that's a whole other topic, but we definitely solved my anger issues with financial institutions that prey on the weak and feeble-minded and poor. Yeah,
