The Luke and Pete Show - Money Talks, in association with Klarna

Episode Date: November 26, 2021

On today’s bonus episode, Luke and Pete are playing Klarna’s brand new game, Money Talks, which is designed to get people talking more openly about money. The lads are sharing what they’d buy if money was no object, how their upbringings have influenced their spending habits and the things in life that are worth spending that little bit more on!Head to www.klarnamoneytalks.com to register for a chance to get a free copy of the card game and download the Klarna app for a smarter way to shop and pay! Hosted on Acast. See acast.com/privacy for more information.

Welcome to the Luke and Pete show. Today, Luke, we've partnered with Klarna, the smooth shopping platform who run a mission to get us all chatting more openly about money. Absolutely, Pete. The Klarna app gives you everything you need to feel in control of your money. You can browse for inspiration, find exclusive deals,

save items and get notifications to your phone when the price drops. Yeah, because we're a bit funny about money sometimes, aren't we? Money can be a little bit of an awkward subject, which makes people clam up a little bit. That's why Klarna have created the Money Talks card game, which Luke and I are very much enjoying playing. Yeah, it's good, actually. On and off the show.

The game is a perfect way to get people talking about their spending habits and their financial wellness in an open and honest way. So we thought, what better way to start the conversation than right here on the Luke and Pete show. We're going to play the Money Talks card game. Three different levels

of cards, a little bit like your Pokemon and stuff um getting more and more spicy and interesting and more kind of like uh uh a bit more interesting each time isn't it so we'll pick one card from level one one from level two one from level three and then see where we land um interestingly actually on pokemons um right my the wi-fi i have access to says that i'm the snorlax oh what does snorlax turn into uh uh i think munchlax maybe munch oh so snorlax is just sleepy it's not yeah big and then and and and and eat eat lax or his name is munchlax i think dulcolax he turns into that uh because i used to have his big blue

dressing gowns as you said a lot of snorlax that's quite i think that's quite sweet yeah anyway okay right so first one up i'm going to turn this card over. Now level one, Pete. Okay, so this is a level one question for you. Easy peasy. I don't think they'll be that tricky anyway. If money were no object, this is a good one actually. If money were no object, what one thing would you buy? Oh, if money were no object, what would I buy?

I like my own space. Yeah? I like my own space. Yeah. I like my own time. I like to put my own energies into doing what I want to do. Yeah. A big ferry. You live by the sea. I live by the sea.

It could work. Just have a big ferry. I'd get on my scooter. I'd get my Wangy 125T. I'd scoot my way down to the beach. Yeah. Get on my big... I mean, I presume I'd need someone to scooter I'd get my Wangy 125T I'd scoot me way down to the beach get on my big I mean I presume I'd need someone to get me on the ferry

I'd have a little alright I'd have a ferry and also like a little pontoon little boat oh you want a little pontoon alright I'll have a little pontoon

to get on the ferry yeah Leon C Beach and or Chalkwell and I'll get on there and I'll just toot away just be me on the ferry.

I wouldn't need any staff. I mean, I wouldn't need any staff but I want to do it myself. You'd teach yourself how to pilot it. Teach myself how to pilot it and run the innards. I don't think you can do it on your own. I think I could probably

just run up and down the ladder. Run from the engine room, throw in the coal, in the fire and then run it off. Yeah, but once you're out in open waters it's absolutely fine. Once I've navigated

the... Sorry, don't say that. Once I've navigated the busiest shipping lane in the whole world, the channel, I reckon I'd be fine.

I don't think any sailor worth his salt has ever said... I'd probably forget to bring salt. Once we're out on the high seas, we'll be fine.

We'll be absolutely fine. That's when you switch off if anything. I don't think they say that, mate. Yeah, but I'll be protected because I'll be in a big ferry. In my mind. It'd be like one of those crap ferries you used to get from, like, to, not Zabruga.

Why does Zabruga? Well, I know why Zabruga. It's in the land. But, like, Ostend. Where do you go to Ostend? Well, where I come from, it's Portsmouth to Cherbourg. There we go. Where's Cherbourg?

France. Sounds like a horse. Where I come from, it's Portsmouth to Cherbourg. There we go. Where's Cherbourg? France. Sounds like a horse. The, yeah, like those rubbish ferries that only go for four hours at a time,

and there's like pinball machines and arcade machines and vending machines and stuff like that. So that's how I'd eat and entertain myself. Yeah. And I'd have the pick of the seats. Yeah. Brilliant. It's just brilliant. You're also piloting it. You ain't going to have time to sit on the seats.

I will. No, I'll get out to open seats, and then I can enjoy it, and then I'll scoot back. Which is the brilliant. You're also piloting it. You ain't going to have time to sit on the seats. I will. No, I'll get out to open season, then I can enjoy it, and then I'll scoot back. Which is the drift. For weekends. Okay. Yeah. And do you know what?

Drift about. Ferries make up a pretty big part of my upbringing. Yeah. Because I grew up in Gosport. You were never bothered by hovercrafts? Never bothered with the hovercrafts? Yeah, I was up to the hovercraft museums in Leon Solent. Beautiful.

Right near where I was. Quite recent history, I suppose, isn't it? Earlier than you think. Right. Earlier than you think. And you get lots of different sizes. But the reason the ferries are quite big in my upbringing

is because all the good stuff happened in Portsmouth, which is the other side of the harbour. Now, you can drive around, but it's quicker to get a ferry across. So I remember when I was at university, some of my friends came to visit me at home. I'd be like, well, we're going out in Portsmouth tonight, and I'd be like, we's quicker to get a ferry across. So I remember when I was at university, some of my friends came to visit me at home. I'd be like, well, we're going out in Portsmouth tonight,

and I'd be like, we're going to get the ferry. And they'd be like, well, get the ferry to a night out. And it was like a big deal. Right, okay. So in my mind, I'm thinking of the Gosport ferry. And there's always, was there always like a cafe or like a pub? Nah. No, there was never any concessions.

No, because it's about a seven-minute journey. So you really have to go somewhere if you want to do some shopping. Is that ferry always just going back and forth, back and forth? How long does it stop each end? It's a massive bone of contention, the ferry. It's like a big talking point

of people who live down there. Right. For a number of reasons and I'm going to answer them now. Does it do a big honk when it leaves off? Honk? No.

Doesn't honk. So you've got two of them. Peak times, they're crossing over. Yeah. So your wake time's about seven minutes. If it's not peak time, you're probably looking at between 15 and 20 minutes to go there and come back again.

Right, okay. If you just miss it, it's a killer. Yeah, that's a killer. Absolute killer. If you get down there and you see the guy unhooking it from the stand, you're in big trouble.

Yeah. You can't even jump like it's a Mel Gibson film motorbike could do that maybe and the reason it's a big bone of contention

is one because it stops so early so for the young'uns it's a pain right I think the last one was at 11pm yeah that is a pain

in the butt and secondly the absolute price of it is so dear that it's a real bone of contention. That's why we're talking about money.

Would you spend all your money on the Leon Solo ferry? To answer the question I put to you, if money were no object, I would buy a ticket for the Gosport ferry. That's the only thing? Like a travel cut pass that allows you to go back and forth a few times? You can drive round, but it takes longer.

Yeah. Unlimited access to the ferry. pass that allows you to go back and forth a few times. You can drive round, but it takes longer. Yeah. And so that's definitely a concern. Unlimited access to the ferry. Okay. Shall we move on to level two, Luke? Yeah. Let's get a little bit more incisive. Let's get a bit more forensic about our money habits.

So you've already bought a big ferry. Bought a big ferry. And that's a great start to the show. It's a great start to the show, yeah. Level two, you ask me. Okay. Here's your question. It's just selected from the card pile. What things in life are worth spending more on?

You big moron. Wow, that's a really good question. That is a good one, isn't it? Business class travel. Well, do you know what? Putting a little cherry on that niggerbucka glory I call life. I'm going to answer this the following way. I'm going to answer this the following way. I'm going to say this.

What people think about a lot in life is they think about the price of things. Yeah. And I don't want this to come across as like a privileged thing to say because, you know, I'm from a working-class background. We didn't have a lot of money growing up.

I get that sometimes things are expensive. You can't afford to do things. You can't afford to do things. I get that. But what I mean by this is people spend far too long on price and far too little on value.

Right. And what I don't think is what am I going to get out of that? So for example, if you're in a household and you've got a certain amount of household budget, they're just thinking

I can afford this, I can't afford that. They're not thinking, people aren't thinking and I always do this. I always try to remind. They're not thinking. People aren't thinking. And I always do this. I always try to remind myself to do this because it really does enhance your life. Sky Sports, for example. I don't know.

I'm making this up off the top of my head. But say like Sky Sports, say it's 50 quid a month. Yeah. That's a lot of money. So people will go, that's a lot of money. And that's the way the conversation will end. Okay. What they're not saying is...

Access to Soccer Sunday, Soccer Saturday. But if they're the world's biggest football fan and they live 150 miles away from the club they like to support and the games are on every week the value's actually quite high yeah

so it's like buying a car if you have to spend an extra £5,000 on a really reliable car a lot of people will just go well that's £5,000 I can't afford more than that or actually more accurately

I don't want to spend that extra money. And you're not spending that time getting your other car fixed. Yeah. Or they're not also saying, I'm sat in this car for four hours a day. Yeah. It's important to me.

The value of this car is really important. So like a nice bed. The bed is the classic example. A nice sofa. The bed is, they're a classic example. Shoes. It's a good job that we're in the podcast game because all we sell are mattresses.

Yeah. There's a great bit of advice I was given when I was a kid by my grandad. Most of the time, you're either on your mattress or you're on your feet. Right. So make sure you invest...

In mattress shoes. Yes. This new product I brought out, which I'm selling out of the garage, shoe mattresses. Springs. There's two big brought out, which I'm selling out of the garage, shoe mattresses. Springs. Two big springs. So I sleep in a giant shoe now.

It's always been great. But no, listen, a mattress is a great example. You spend, all being well, you spend eight hours a day for the rest of your life in bed. You need to invest in value. So to answer the question,

what things in life are worth spending more on, which I think was the question, the things that you in value. So to answer the question, what things in life are worth spending more on, which I think was the question, the things that you personally value. And that's going to be unique to you. You may find that you love cycling more than anyone else, so you spend all your time cycling and you want to buy a nice bike.

Don't buy a shitty bike because you don't want to spend the money. If you can afford to, invest in yourself. Invest in a good Hoover. Great example. A good Hoover. I've bought many...

I've bought... Really, I've overbought, overpaid for crappy hoovers when I could have just made them with a Henry. Absolutely. Most shops have Henrys. Everyone who has a Henry swears by a Henry. I've never heard a bad thing about a Henry.

No, exactly. And now they've got battery-powered ones, but I just hope they're as powerful. I don't want to fall into the trap, trap though because some of the things you're describing are things that we would call false economy yeah where you buy cheap buy twice i don't mean that right i mean think about what's important to you and if it's not going to be value for you then don't buy it but if it is going to be a tremendous amount of value to your life then maybe you do want to spend a little bit extra on it because that's what you're going to be in tremendous amount of value to your life, then maybe you do want to spend a little bit extra on it. Because that's what you're going to get the value out of. Like, for example, a PS4.

Yeah. If that's going to sit in the corner of your room and you're never going to play it, don't buy the fucking thing. If you're going to play it every day, don't worry about the price because you're getting the value out of it. Exactly.

Yes. True. And I understand you have to have the money in the first place. I get that. You've got to live within your means. Of course. You've still got to live within your means. Absolutely right.

So that would be my answer. Does that answer your question? It does answer my question. It was a lovely answer. You've got to live within your means. Of course. Absolutely right. So that would be my answer. Does that answer your question? It does answer my question. It was a lovely answer. You're very welcome. Are you going to hit me with a level three question? I will, but... Whoa!

Do you have anything to add to my answer there? No, I mean like... Because your approach to spending, which we'll come on to... It's problematic. It's different to mine. It's different. I'm not parsimonious, I don't think.

What do you mean? As in like you don't really sort of go... No, I'm not someone who hates spending money. Right's not better words. I'm not parsimonious, I don't think. What do you mean? As in like, you don't really sort of go... No, I'm not someone who hates spending money. Right, yeah, no. You're kind of... Yeah, no, you're fine. You're fine,

but you do very much live with the new me. I'm very much a... I get something in my head. I've got a mobile phone. I've got a mobile phone there that is fine. The battery power's fine.

It lasts me a day. But now I'm going, maybe I need one with a bigger screen. Maybe I need one with a little foldy one. Right, so someone's probably...

And I'm like, why am I... And that's in my head. And as soon as you start Googling them, as soon as you start watching YouTube's videos about them,

you talk yourself around. Even though the people who are reviewing the phones are sort of saying, well, it's not good for this. And I was like, well, I need it for this. And I'm in my head going,

yeah, I want it. I want it. I want it. And then the algorithms take over. And then they start trying to hawk your stuff on the sly. Oh, it's difficult. It's tricky, mate.

It's tricky, mate. And that's why it's important. That's why. Got to keep your head. We'll come onto this in a little bit. Yeah. Why it's important to talk about money. It is.

Yeah. Definitely. So anyway, look, level three. Let's do level three. I'll ask you. Listen, do you know what? We'll take a cut at the deck. I'll ask you first. Yeah. And then we? We'll take a card out of the deck. I'll ask you first.

Yeah. And then we'll both answer it, okay? Yeah. All right. Okay. Here we go. In what way has your upbringing influenced your spending habits? Level three card here.

In what way has your upbringing influenced your spending habits? That is a really good question. It is. And it's filled with emotion. Yeah. Slight sadness. Slight wistfulness. We never had any cash growing up.

My mum was a cleaner. My dad worked in a factory. And we just never had any cash at all. Absolute, you know, free school dinners, the whole nine yards all our bollocks and we and now

I moved to London and you know had a decent job you know doing the old website for a local government quango so you know shame the internet blew over innit because you were doing really well

had the websites out of thing anymore innit moved when I was about 26 to radio and I had no money Shame the internet blew over in it because you were doing really well. Had the websites out of thing anymore, didn't it? Moved when I was about 26 to radio and I had no money, you know, loans, credit cards, you know, being really quite,

not irresponsible, but there was just no other way of me getting through really. Graduate loans, you know, a couple of grand here, a couple of grand there. And it took a long time

for me to pay off credit cards, pay off things like that because I was, I wasn't irresponsible. I was just like living my life within my within further than my means would allow i was on 10 grand but you had no means i had no means i was on 10 grand yet xfm um and then you you start you sort of make your way up the ladder and stuff and that's why media we've spoken about before attracts people who are independently wealthy so you get this slew of white middle-class

uh men and women who who who mummy and daddy can look after. But that's a side point. And I have always spent every last penny of my money. Like, every last penny of my money. You know, I'm on a decent wage now. I have always spent all of the money that I have. Now I've hit 40. I've got to start to think about being a bit more responsible.

I have a mortgage. I can't default on it. I don't really default on rent and stuff like that because, again, it's one of the things that I can't afford. But that's like you just square away straight away. You square away straight away. You can't really sort of opt out on that one.

So I am more careful with my money than I was before. For example, five years ago, I would have that phone in my hand that I was talking about. One in each hand, baby. But I've always subscribed to the fact that there'll always be money

but, yeah, there'll always be money. There'll always be money if you're willing to work for it. Which is a terrible way to be, but I don't think there's much need in worrying about money, necessarily. And the worst arguments you can have with partners

is about money, I think. Yeah, I understand. To a certain extent. And a lot of what you said there kind of rings true to me as well. So very similar. I know you weren't saying this, but just from where I'm sitting,

I kind of try and stop short of talking about being poor growing up because I don't want to disrespect my parents. Yeah. Because I genuinely don't feel like, honestly, sincerely. You went for it. I don't want to disrespect my parents. Yeah. Because I genuinely don't feel like, honestly, sincerely. You went for it. I don't think I wanted for anything.

Yeah, yeah, exactly. I don't think my... I always had a computer. My dad was into computers. I always had a computer. It was always there. Yeah. Which, you know, comparatively,

but it was the North East in the 80s. It was, you know... So I lived in Gosport in the 80s. Not exactly, you know, much different. But the way I look at it is, what could have happened? What kind of aesthetic or kind of merchandise type thing

could have been introduced to my child to make it better? I can't think of anything. But back then you would have, you would have gone, wow, this is brilliant. I'm not complaining about it. I'm just saying that that's a fact.

I think it's a message that, you know, if one of us becomes a father, it's a message that'll go, kids don't care about this stuff. Kids don't care. Kids, unless... The green-eyed monster and stuff, of jealousy of someone else...

Which for most of the other kids at school, that kind of stuff. Yeah, but that is fundamentally... There's only one kid with that thing, or two kids with that thing. It's never like... It may feel like the entire class, but it's never the entire class. There's always one kid poorer than that thing or two kids with that thing. It's never like, it may feel like the entire class, but it's never the entire class.

There's always one kid poorer than you or two kids poorer than you. So my mum works in the supermarket, my dad works in the factory as well, so similar thing. And what I think that does, and I don't want to get into the whole debate about poverty because that's a different conversation

than the one we're having here, but I would argue that when people talk about working class poverty, it's for me, at least, in my experience, it's about the poverty of opportunity rather than the poverty of money. Yes, I completely agree, yeah. The poverty of opportunity where you don't actually think that anything exciting or good or any career

is actually available to you. Now, my parents did a brilliant job of saying to me that I could do whatever I wanted, and that's been proven wrong. But it's not their fault. How did your bodybuilding career go? It's ongoing, actually. It's ongoing.

It's ongoing. But what it does when you grow up without having a huge amount of money knocking about is it does make you, I think it can go one of two ways. And I think that this is a very long run-up to be answering the question. I promise you I'll answer it. The way it's influenced my spending habits is actually quite weirdly contrasting. Because on one hand, I'm not frightened of not having any money.

I don't think to myself... I think I can scale up my lifestyle up and down, really. Yeah, I think that's right. The only responsibility I have is to my partner, because she doesn't deserve that. She doesn't deserve ramen. She doesn't deserve that. That's a whole other special.

But I'm not frightened. I don't hoard my money because I'm frightened of losing it, like some kind of, you know, the dragon in The Hobbit. Yeah. But at the same time, I do,

I think it does affect me in both ways because I don't want to spend all of it. I don't want to keep all of it because I think, well, I don't need to keep all of it because it's fine. Like life is okay without money.

But at the same time, I don't want to spend it all because I think I'm not, I'm not necessarily, I don't come from an environment where the money's always been there so it affects me in a number of different ways

I kind of get weirdly het up about certain things and I think it might come back to the whole value thing I was talking about earlier I find it difficult to spend a huge amount of money on a holiday

because I don't think the value's there I think one or two weeks fine you'll make some great memories I love my wife we go on holiday together all the time but the stuff we do I don't think the value's there. I think one or two weeks, fine, you'll make some great memories. I love my wife. We go on holiday together all the time. But the stuff we do is kind of secondary to spending time together.

And the stuff I happen to like, coincidentally, is like being out in nature. Climbing and stuff, isn't it? Doing things at a creek. Clambering. You're a couple of clamberers. Yeah. I don't like spending as much time in the car either. I just feel like I don't use it enough. So look, I think it's influenced me in a number of ways.

I think we both come back from a similar background so you're not going to get, people listening to this aren't going to get contrasting answers from us because we have very similar backgrounds.

But I do think it is important, if I may just make this final point, a more broad point. There's a lot of things in British society that are taboo. Talking about certain things,

talking about, it used to be politics and not anymore. It used to be salary though. I remember being told by my dad, never ask your friends what money your dad earns, because it's rude. And I understand why that is, because British people have an idea of

I think an idea of politeness and kind of awkwardness. But actually, not talking about money... Fundamentally keeps wages down. It keeps you in the dark. You don't learn anything about it at school. You didn't when we were at school. You don't learn anything about managing a budget at school. You have some weird obscure ideas around business studies and economics and stuff, but not really at any level.

You don't talk about running a household. No one says to you whenever you get a job, whether that's in a minute or in five years time after uni, you are going to have to manage a household budget. No one says that. So it's important. Let's learn to make some mashed potatoes. Yeah, quite. Let's shine a light on this. Let's talk about money. Let's not be embarrassed

if we don't have a bit of money. Let's not be ashamed to ask for help. Let's not be embarrassed that we've also, on the other side of that, and this is more of a me thing than a you thing, I know, but let's not be ashamed

of being successful because we work hard and we earn money. I mean, if you earn it and you've worked hard for it, good for you. I think we should be celebrating and I think it also shouldn't be a cause of embarrassment

if you don't have a huge amount of money because, you know, the best things in life are free, Pete. The best things in life are free. But if someone asks me to quote what my day rate is for a particular job, I will say a certain amount of money. But if you can't pay that, I'm sure we could come to some sort of arrangement. I'm sorry for being so gauche to give you a number

that you literally asked for. And then you end up paying them. Then you end up paying them. Then you end up paying them. There's some insight into our spending habits today. It turns out that I don't always spend all my money

on Chinese takeaways. I can't believe we got through that without mentioning your Chinese takeaway budget. That should be one of the cards. Goodness me. The game really is a lot of fun.

It's a great way to get your friends and family opening up about money. Head to www, always the www, it's very important, Klarna Money Talks. K-L-A-R-N-A Money Talks.com to register for a chance to get a free copy of the card game

and download the Klarna app for a smarter way to shop and pay. You can find exclusive deals, get notifications when prices drop, save items for later, or just even browse for inspiration. Please shop responsibly. 18 plus, UK residents only, credit items for later, or just even just browse for inspiration. Please shop responsibly. 18 plus, UK residents only. Credit subject to status. T's and C's apply. Credit provided by Klarna Bank ABPUBL.

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