The Rachel Cruze Show - 20 Shopping Secrets the Stores Won’t Tell You with George Kamel

Episode Date: November 8, 2021

Want in on a secret? How about 20 secrets on how to save more and spend less—while you shop! We’re going to pull back the curtain on a few common marketing tricks to avoid and show you some easy ways to be a savvy shopper at one of your favorite stores.      In this episode, you’ll learn: Secret ways to save money at Kohl’s Top ways companies go after your money (with George Kamel) If there’s ever a good reason to keep a credit card EveryDollar: bit.ly/3BTfvAg Learn more about your ad choices. Visit megaphone.fm/adchoices

Here's the thing. Companies know that the easier they make it for us to buy, the more we'll buy. Apple Pay's tagline is literally cashless made effortless. They know that the more effortless they make it, the more money we will give them. Hey, everyone, welcome to another episode of the Rachel Crewe Show podcast. I'm so glad that you're here. In this episode, you're going to hear a conversation I had with Ramsey personality, George Camel, on six ways companies go after your money. You won't want to miss this.

And then you're going to hear me answer a question from Audrey on how to budget on a weekly income versus bi-weekly. But first, we're going to talk about 13 ways to save at Coles. I've heard that some of you love this store. So here are some ways to save the most money while shopping there. Take a listen. All right, I love to dive into savings tips. It's good for me because I'm a natural spender, so anywhere I can just save some money.

It's good for me, you know? and especially when it comes to shopping. And, well, I've heard you loud and clear all of you out there. One of your favorite places to shop is Coles. So we're going to dive in to 14 ways to save at Coles because I know you guys are in there shopping. And again, shopping is great. We love it, but we want to have a plan.

We want to be diligent. We want to have the money for it. And we want to be smart about it. And well, Coles is a place that is very popular. there's over a thousand stores all over the country, and they have everything from clothing to kitchen gear. I mean, you name it, I feel like Coles has it. So, savings tips are important.

Let's dive in. All right, number one, never pay full price at Coles. It's kind of a simple tip, but this is really important because, listen, the full price at Coles is actually higher than other retailers. And they've actually been sued before for listing false prices as regular price, and then they mark it off 30%. So it feels good, but the original price was already jacked up and, like, all of it.

So, listen, you can get some great deals because we're going to talk about that, but just remember, never, ever pay full price. Number two, stack coupons. Look for their new coupons on Wednesdays and Fridays online or on their app. And you can use up to four coupons in one order. So one can be in the store, like the actual brick and mortar.

The other can be online and use a coupon there. and the rest can be department-specific discounts and Coles cash. Number three, if you are a veteran, you can shop on Military Mondays for a 15% store discounts. It's awesome. Number four, find a promo code. Listen, you can just like search online really fast, and there are so many from like 15% off to 30% off codes everywhere. Next, make Amazon returns at Coles and get a 25% off course. Coles coupon. This is a thing. Okay? So, you know, all the Amazon packages you get? Like,

oh, man, I need to take this back, this back. When you go on the app, I've done this, and you return an Amazon, you can either mail it in, or it'll say, go to your local Coles, and you can click that, the location, take in your Amazon return, and then you get a 25% off Coles coupon. Who knew? Number six, skip the shipping costs. So you can process your order through the Coles app, get free shipping, but you must be on Coles Wi-Fi. and this is really good if you find something like a clothing item that you love, but it's not your size, then you can order online in the store, or even an associate can help you do this as well. But when you do it there, you get free shipping.

Or you can just ship your order to the store and avoid paying for the shipping costs. Next is Coles does price match. So they will price match for their competitors in store pricing and Coles.com pricing. So if you find coals.com is cheaper than what's in the store, then they will price match that. Now, they do not match competitors' prices online. So just remember that. Number eight, expired coals' cash can still be used in some cases. So Coal's Cash is good up to 10 days after the expiration date.

Now, you do have to ask an associate to apply it to your order, but they will, and you can still use it. And if you're shopping online, you can place your order over the phone and the associate it there will help you apply your expired coals cash to your order. Number nine, use the Coles app. So on the app, you're going to find so many coupons. You can actually scan any physical coupons. You can save all your Coles cash there on the app in a digital wallet. It just kind of keeps all your Coles dreams intact, all right there on the app. Number 10, if you are a frequent Cole shopper, keep track of that Cole's cash. So, Coles cash, again, is their reward systems.

I feel like other stores do this as well. But then you keep it, and then you get to stack up points and redeem that later for other purchases. It's great. Number 11, it pays to shop early or late at night. So this was interesting. So they have like a night owl and an early bird special, which is 25% lower than average. Pretty great. Number 12. Get paid when the price drops after your purchase. So if you buy something, and then it goes on sale 14 days after the purchase, then you can get a price adjustment.

So you just got to show your proof, your receipt of purchase, and say, here it is, and it will be reduced at customer service. Number 13, shop their gold star clearance. So every so often, at the end of a season, they will have up to 80% and off. It's a lot of savings. So you can stack up those coupons, take that 80%, and get a great deal. Number 14, don't get the Coles card. Yeah, the Coles card. Get ready for this interest rate, people. 25.999%. It's crazy. These in-store credit cards, they drive me nuts. They drive me nuts, you guys. Because, yeah, you get like 10% off or whatever it is. But if you're buying $20 of stuff, It's like, okay, I get $2 off.

Great. But then the average person who doesn't pay off their credit card is paying that much more in interest. Like, they are making so much money off of it. So remember store credit cards, just say no. Just say no. All right. Hopefully those were some great tips, you guys. No, I'm not sponsored by Coles.

I thought about that during the tips. I thought these people are probably thinking Rachel's getting paid by Coles. I'm not. I'm doing all of this because I know you guys love this store. And again, we have to buy stuff in life, right? that is what life is about. You're going to make money, you're going to spend money. But when you're wise and you say, hey, I can actually use Cole's cash or a coupon or any of these tips we just talked about, it will save you money.

And especially when you're early on in the baby steps, any extra cash you can get to help with your emergency fund to pay off debt is so, so great. And remember also that when you use cash, you end up spending less. That is one reason that I made the Rachel Cruz wallets, which I love something. much, and we have it in a new color, classic brown. Oh, it's so beautiful. It's soft. It smells great. And it does allow you to stay within your budget because there's these sewn in envelopes that you can put your cash in. It works beautifully. I love it so much. And I hope you too, too. Now, if you are a Coles shopper and you have some other tips, I want to know. So leave comments in any of my social media, and we will all be looking, because again, we're all in this together,

right? And I just love hearing from you guys. So remember, buying stuff is not wrong by any means, but the more money you can save, the more money is back in your pocket, which is key. Well, we live in the most marketed to culture in history. $276 billion will be spent globally this year to market to us. We see thousands of ads a day. I mean, it's just, it's constant. And we talk about a lot of this on the Rachel Cruz show and how to save money. against those companies that are trying to get our money. So I thought I'd bring you on George. Hey, it's great to be back with you.

So glad you're here. He's Ramsey personality, George Camel. And you talk a lot about this, and I love your stuff around. That's why I wanted you on today. Because personal selling, it is still alive and well. I feel like we think sometimes that, you know, when we think of like, oh, sleazy salesmen,

we think of, like, door to door, you know, like from the 80s or something. But no, like selling and companies knowing how to sell is still a huge business. It happens a lot. I mean, it's the Girl Scouts outside the grocery store, right? How do you say no to them?

I know. And do you know who just became a Girl Scout? No way. Yep, this year. Amelia? Amelia? Emily Jane. I know.

How could you say no to Amelia who are reading the Girl Scout cookies? I know. We've not sold cookies yet, but when you said that, I was like, yes, it's true. They train them while they're young. They're going to be great salespeople.

I know, I know. That's one way, but it's also going digital now, right? It's your old friend from high school who's messaging you like, hey, just wanted to catch up house things, how's the family? And then they hit you with, hey, you're looking to make some money?

At home, I have a great opportunity for you. Personal selling, it's alive and well, and it's one of the hardest things to resist because it's one-to-one. Yes. I can't just click out of a box. There's a real person who I have to say no to. So don't let anyone pressure you into buying something

you don't need and especially can't afford. Yes, okay. So that's one thing to kind of guard against and just to realize, not guard against, but be aware the personal selling. I can take your money. Because like you said, you have to, like, reject someone. It's hard.

Not like a thing. It's like a person. I'm a people pleaser. It's hard for me to say no to anyone. Hey, some of them were tricky. I got invited to a party. I'm not going to give too much detail because I don't want to throw them under the bus.

But anyways, we were enjoying, you know, some beverages. You know, I don't know. And then at the end there was like this pitch. And I was like, oh, my gosh. Oh, it's one of these parties. I was very unaware of it. But it took me. I'm not going to, I'm not going to disclose.

Because I love to you. It's fine. It's fine. It's fine. But I'll just say, it can be sneaky and tricky. And salespeople are trained to convince you to buy, so you really have to be careful here. Yes, that's so good. Okay, what's another one?

The second way is through product placement. So when you walk into a store, that stuff is there on purpose, right? When you walk into Best Buy, they don't put their cheapest TV out front. Totally. It's the 85-inch Samsung Q-90T series, Q-L-E-D, 4K-U-HD, Smart TV, and it's $4,000, right? And so don't fall for this stuff because companies are paying for that placement. So, yeah, they're paying the big bucks. Here's one of the trickiest ones.

Publishers. When you walk into a bookstore, that front table and it says bestsellers and all, the publishers pay for that amazing placement because they know you're more likely to buy. Yes, and the end shelves, the bookend shelves, oh, that's the key. That's really like the books. We love a good wholesale club, me and you. And one of the things they do is they put, let's say, the rotisserie chicken, that's $4.99, and they sell 100 million of these, and it's in the very back of the store.

So you have to walk through the entire store to get to that product. That is specific product placement because they want you to meander through the store. Maybe, oh, I didn't know they had this new thing in stock. And all of a sudden you walk out with $200 worth of stuff you didn't need. Yes, it's the stuff that they know you're going to buy. Probably more inexpensive, but it's like the necessities, right? And they put in the back to get you to get you go through. It's true.

Dangerous. Very dangerous. So here's what I tell people. Don't follow your eyes, follow your budget. Ah, I like that, George Campbell. I thought Rachel Cruz would like that. That's good. Yes.

Because it can. You can be looking around. Yeah. Getting some stuff. Don't let those eyes wander. No. Stick to the plan. Stay on track, people.

Stay on track. So some companies do a great job because they like wrap this whole story around a product and you feel like you're part of this thing. Oh, yeah. That's a big thing, right? Yeah. I mean, the best companies do this really well. They tell great stories that draw you in and you go, oh, I have the same shared values as Chick-fil-A. Yes.

And so you buy Patagonia clothes because, you buy Patagonia clothes because, you know, you know, you tell you you fancy yourself as an outdoors person. You love the great outdoors. Brand association, yes. And so companies know this and they're using it, and it's not evil, but you have to understand why you're buying Patagonia and why you're buying, you know, a Yeti or a Gibson guitar or a Harley motorcycle.

And you start telling yourself the story of, I'm going to get a motorcycle jacket and ride with the bros this weekend. I'm going to, instead of Aaron, I'm going by Ronnie this weekend, and we're going to hit the open trails. And so you start to really get into the story and it can cause you to buy things to impress other people, to tell yourself a story, that's not true.

So just be careful that you're not buying the name brand for no reason just to impress your buddies. That's good. Brand association. The products you buy tell a story about you. So I want to make sure that what you buy aligns with the person that you really want to be. Yes. You're doing that for the right reason.

Love that. So, so good. Okay. One thing I love, I love a good sale. You know, you see something. It's like, yeah, I mean it's on sale. You can justify it. I always say, just because it's a good deal,

doesn't mean it's a good deal for you, but sales and promotions, they will get you, they'll rope you in to spend more than what you want. Yes, I fancy myself someone who's frugal. And so sales and promotions, I go, oh my gosh, it's a great deal. I must buy now. There's urgency around it. So there's a lot of tactics to get you by, and holidays are the worst, right? There's President's Day sales, Labor Day sales, Fourth of July sales,

Black Friday, Green Monday, Taco Tuesday, clear in styles, Bogo, $20 off. You get free shipping with purchases of $50 or more. These are everywhere, and this is what causes people to go. broke is because you can actually, this is crazy, you can go broke while saving money. It turns out. But Rachel, we got 20% off and we're $4,000 in debt. So who won?

Right. We have to think about this stuff. Don't think about how much you're saving. Think about how much you're spending. Which is so hard because I'm a spender. And so I have said multiple times I'll come home and be like, babe, I just saved like $150. Yes. It's like, well, how much do you spend?

That doesn't matter. It's how much I spend. It doesn't matter, people. It's how much I saved. I know. Okay. Okay, can I say this, though? Here's one trick I did learn.

Okay. And I'm kind of embarrassed to say. I've just learned it over the past few years. This is a safe place. This is the set of the Rachel Cruz show. I appreciate that. I'm going to be very honest. Specifically with grocery stores, when it's buy one, get one free.

Oh, yeah. You can just buy one and you get that half off. I do this at Publix all the time. Yes, that's the grocery store I was thinking of. I know. So you got to check the policies. Some say you have to buy two in order to get the deal. But places like Publix, you can just buy one.

Just buy one and you get it half off. That just cut it in half. I know, so you still feel good. Like, I was needing it anyways. I needed the sour cream, but I don't need two. Yeah. Who needs two sour creams? It's going to expire.

It's going to expire. It's chilly season, George. Okay, you're right. It's really right. Invite me over, guys. I know. It's real good. Come on.

I got some good recipe. I got a hot chicken chili recipe. This is for another episode. Save this. Okay, tune in later. So good. So here's a big thing. Sales and promotions,

one of the biggest ways people fall for this is via email. Okay, yes. You're signed up for their emails, you're going to get the deals, and they're going to come flooding in your inbox. So here's a secret. At the bottom of those emails, there's a little link, an invisible link in size four font, says unsubscribe. And if you hit that, it's going to say, we're sad to see you go. We'll miss you. And I don't want to make them sad, Rachel.

I know. They want to be my friend. I want to be their friend. They're not your friend. Companies aren't your friend. Hit unsubscribe. Take away the power from them. Take away the temptation so that you can win with money.

Yes. So, so good. All right. Here's another tricky one that always gets me too. What's that? It's just the easy to pay, especially on my phone. The convenient payment methods. And they're real.

This is the tough one. And I love convenience. Sure, me too. When I go to one of my favorite stores is Trader Joe's, and I go grocery shopping and I use my phone at checkout. I don't have to pull out my debit card. It's awesome. And so that's nice, but here's the thing.

Companies know that the easier they make it for us to buy, the more we'll buy. Apple Pay's tagline is literally cashless made effortless. They know that the more effortless they make it, the more money we will give them. It's true. One of my favorites, me and my wife Whitney have a tradition of going to Starbucks on Saturdays. We get a nice nitro cold brew, and here's what I do at Starbucks. I don't even have to pull out my phone anymore.

I've got the Starbucks and load it on my watch, and so I pull up the barcode, and I didn't realize I just spent $5.21 on our nitro cold brew. Right. Now, we budget for it, so don't get mad at me. Don't come at me in the comments section. Sure, sure. But there's still an element of, oh, wow, we just blew five bucks. because it just feels good.

So be aware that when it's so effortless and it's so convenient. Yeah, you take away the friction. You take away friction. Then you're, yeah, because if you've got to go to like eight different websites to pay for something, more than likely four in,

you're like, oh, I don't have time. Kids are crying. I got to go. I don't have time for this. That's why we love auto-fill. But when you have a chook-ch-ch-ch, and it scans your face. Yeah.

You were telling me how you made a purchase. I did today. And it auto-filled all your information for you. It was a swipe up from Instagram. I know, I know, I know, I know. And it took away the friction. It pulled up, and it was a website. I don't think I've ever even bought anything from the specific website.

Yes, and I go up, and there was like, I swear, there was like a little Instagram, like, logo. There was something, and it said, like, Rachel Crewe, and I went down, and I was like, wait, and I clicked it, and all my information, except for my debit card, because it didn't have it saved. All my information, my ad, everything, just right there, and I was like, that is the easiest. You know what else is easy? What's that? This isn't a want, this is a need, but chick-fil-A. Wait, hold on. The app.

You just said it's a need? It is a need. Chick-filis I need. But on their app, and you can use Apple Pay to refill. So I'm literally in line. I'm like, oh, man. And it can auto refill whenever you run low. Yes, and I can.

Oh, okay, I don't know about that. It's dangerous. I haven't done the auto refill. I still go and click the number. But sometimes when you're trying to stick to the budget, you can take away the convenience. That's right. That's right. That's right.

When it's not in the budget and there's not that, oh, yeah, you get buyers remorse because you end up buying stuff that you don't need. Big time. But at least you have the money. The next tip is one that gets people to buy a whole lot more money. Financing. Going into debt, you guys. Don't do this. So here's the thing, and you know this.

When you finance, here's the questions you ask. How much down, how much a month? You're concerned about the payment. Can I afford the payment? But why spenders ask how much? That's it. That's where the question ends. And so one of the slickest ways that is happening right now with financing is buy now, pay later.

A firm, Klarna, afterpay, Zezel. They're all over. every single retail website now, you see this. And this is where under the cart, under the add-to-cart button, it says, hey, why pay $40? You can pay four easy payments of $10. They're doing this on pizzas now, Rachel.

You can finance a pizza. Oh, geez. It's insane. And how much I love pizza? I still don't recommend that. What makes me really mad is these companies use the language that we do. They say, hey, we want to create financial freedom

for our customers. This is what Klarna says. And they brag to retailers by showing them that the consumer spends 45% more when they use a buy-now pay later service. They know this. And I know there will be studies out, but I love the psychology behind all of this because I'm like when you, because we know like old school cash versus card. We need like those studies have been done. But I can't wait to hear what goes down like how much. I mean obviously we know 45% you just said. But what happens to the,

like when you truly take in $4.97 cents versus $40? Yeah. Like you automatically justify. Like, it's like this, oh, yeah, I can swallow that pill. This one will hurt a little bit more. And you go, well, my budget's going to be freed up, Rachel. It's not a great thing? No. You're chained to payments for months and months. Do those things have, fees and interest?

Yeah, is there, if you miss a payment, do you know what goes into that? All of them are different. So some of them, they brag about no interest. Some of them have some fees. Some of them do have interest. So you have to be really careful and read the fine print. But instead of reading the fine print, just avoid them. Sure, absolutely.

And pay cash. Like, this is classic, you guys, like living your life looking through the rearview mirror. Just pay for stuff. Just pay for it. Have it in the budget, pay for it, and be done. There's something to be said that you're still not paying on a shirt four months later, and probably you don't even like the shirt anymore. It says, the tag on it, in the closet. And this

happens with store credit cards, too. It's the same premise, but, oh my gosh, would you like to open a TJX rewards match? No, I don't. No, thank you. I'm done. So never finance a purchase. Absolutely. This is all great information, so what do we do? All these tips are in my head. So now that you know how companies are going after your money, you can protect yourself, you can become a smart spender, and it actually spells out smart.

I made it real easy to remember here. So number one, we start with self-awareness. This is the S. You've got to realize what are my values, and will this actually add value to my life? Is this purchase really tied to my values and beliefs? And once we do that, and you say yes to that. You said, yes, this will add value to my life. Then we can move to the M, which is motive.

And you talk about this a lot. Yeah. Is this a want or a need? Am I buying this for the right reason? Am I buying this to appease someone or impress someone? Or am I doing it because it's retail therapy and I'm sad? That's right. These are not good motivations to make purchases, especially if they're not in the budget.

Yes. So if nobody sees the purchase, do you still want it? That's the question I always ask myself. So am I buying this for the right reason? You say yes, we move on to the A, which is affordability. And that's really simple. Is this in my budget? If people answer this correctly, America wouldn't be in debt.

Right? Amen. This is where we have to figure out, oh, it's not in the budget, and what do we need to do to get there. Okay, we can save up for six months and put $100 aside and a sinking fund in order to make this purchase. So that's what it comes down to. We don't want you going to debt for a purchase. Once we have that part down, is this in my budget? Yes, check mark, we move to the R, which is research. And this is where a lot of people, they skip this step.

Yeah. It's impulsive. They just see it and they go, okay, I'll make the purchase. Is this the best option, retailer, and price? So do your research. We talk about a lot of money-saving tools, online, website extensions, apps, things you can use to find out if you're getting the best deal. And a lot of times you know, hey, Jay Cruz probably going to have their 20% off sale coming up soon.

Yes. Let me wait, let me budget for that and do it when the time is right. Wait two days, and it'll be up, yeah. Yeah. Yes. Or is there a generic brand that really does the same thing, and I don't really need the name brand, and it's half the price. It's great.

So you've got to start thinking about research. And then comes timing. This is the final one, the T, is now the time to buy it. And so this is where we go, what are our priorities? What is the opportunity cost of buying this thing now? Do we have other things that we really should be putting that money towards? Should we wait six months? Should we wait till Black Friday?

And once you do that, you really take back control of your spending when you realize that you can't spend your way into a meaningful life. So we've got to start doing this stuff for the right reasons, with the right mentality, with the right framework, so that we don't have buyer's remorse, so that we don't go into debt, so that we can accomplish our financial goals. So good, George. Smart.

Listen, I got the glasses to prove it. I'm a giant nerd, and I'm just here to help. It's fun. No, I love it, though. It really is. This is the tactile stuff, you guys. Like, when you are living life day in and day out, you're buying stuff, because you have to buy stuff. Like, that is life. There are things you're going to have to purchase, whether it's food or clothes or whatever. Just be smart about it. Walk through that acronym, and it really will. It'll help save you money, because it actually makes you pause and think. That's the key.

Well, George, thanks again. So much for being on. Where can everyone find you? You can find me at George Camel. That's K-A-M-E-L on Instagram and Twitter. And, of course, the Fine Print Podcast, helping people avoid a lot of money, traps. You can find that podcast on the Ramsey Network wherever you listen to podcasts. Love it. George, thanks again for being on. Thanks for having me. I'm so excited to have Carol on with me, and I'm going to be diving in to her question. But Carol, welcome to the show. Hi. Thank you very much for having me. Happy to be here. Absolutely. Thanks for coming on. I appreciate it. So where are you calling from? Good old Philadelphia, Pennsylvania. Very nice. Very nice. And where are you in your money journey so

far? I am in Baby Step 2. Very beginning of Baby Step 2. I love it. Okay, so can I ask how much debt, have you paid off so far, or are you about to pay off? I literally just finished my $1,000 emergency funds, so I, as of last week, so I literally am starting Baby Step 2. So I have nothing paid off yet, but I have a long journey. I have about 137,000. Most of it's student loans. I did not know about you guys before. I wish I had, you know, heard before, but didn't. Hey, that's like everyone's largest debt. It is.

I mean, it is wild. Okay, so can I ask what made you jump into all of this? I mean, you literally just started. You just finished your $1,000. Like, you are in this new journey of your money. What caused you to want to even start? I think as probably with most people, when COVID happens, you reevaluate it your life.

I was lucky enough to not be laid off of my job. So I still had money, but I still was living paycheck to paycheck. And I signed up for Financial Peace University. I just sort of YouTubeed and figured out financial information, and that's how I came across Ramsey Solution and all the Ramsey personalities. And I just sort of, instead of binging Netflix, I binged YouTube to try to learn as much as I could. And so two things happened. And first, I was paying on student loans, but I was paying just the income sensitive.

And after two years of paying, I realized there was nothing, the balance had not gone down at all, at all. And then the second one is there was a saying that someone made where just because you can afford the payments, doesn't mean you can afford it. And so it just really resonated with me that I did not want to live that paycheck-to-paycheck lifestyle anymore. most of my family do. It's just where I was brought up. And so I just wanted to make a change. I just want my future to be different than debt.

I love that. And honestly, it's very courageous of you to do that. I mean, you stepped into something like you said, even the people around you, you could have stayed in your normal cycle, and it would have been normal, and it's just what you would have done. But to do something so different and so drastic

takes a lot of courage. So I just, I applaud you. you for starting this. And again, you're at the beginning of the journey. And I think that I just know, because we've been doing this for so long, that, you know, the future, you know, the next two, three, four, five years of your life is going to be so drastically different and in a beautiful, great way, specifically financially. And so I'm excited for you. I really am. Okay, so I want to dive into your question. So you can go ahead and ask that. So I am probably very typical to most people. I still have one credit card that I have not cut up because I am nervous. It's my safety net,

I guess you should say. I have one checking account, which has a debit. You know, I've watched all the videos, used debit for everything. I think five years ago I had my checking account hacked, well, my debit card number hacked. So I'm nervous not to have a backup debit card or a backup financial access to my money somehow. And I'm single, so it's not like I can say, darling, can I have, can I use your debit card? So I'm just trying to find options that I can do so I can finally not use this credit card as a safety net. And I'm not using it for emergencies. I'm just using it like in case my card damages or gets lost or stolen. I just have that fear because it happened to me before. So that's what can I do? So I can. So I can,

and get rid of the credit card. Yes. No, it's a great question, and I like that you made that distinction, that it's not out of fear, oh, something's going to happen, and I'm not going to have the ability to pay it if an emergency comes up. It's not that. It is a literal tactical, hey, if my debit card information is taken, what am I going to do, right, if my money is wiped out? And so I think that that's a pretty common fear, and I think a lot of people just assume that a debit card is not as safe as a credit card. So I'll give you that first kind of just, layer of knowledge that a debit card has the exact same protection as a credit card.

And so they will refund you and you will get the cash back if there is an instance of a fraud. But unlike a credit card, it is cash still coming out of your account that you are going to be missing, right? And so what you could do, you know, in this instance, if you wanted to, you could always have two banks. You could have an online bank that's really inexpensive not a ton of fees to have and have just some cash sitting in there. It could even be part of your emergency fund if you wanted to say, hey, I'm going to take some of that money from my emergency fund, that was from savings, put in this other account,

and you have that debit card that you just never touch. But it's just your backup, almost again like your emergency fund, just to give you some peace of mind to kind of diversify, if you will, the risk of having just that one account. But also, there are a lot of instances where money market accounts or even savings accounts come with a debit card or check writing privileges. So you could even look into that and to say, hey, if something happens, am I able to use money out of my savings account?

Because in that case, that would be an emergency, right? If money is taken out and if you don't have money in your account to pay your bills because it was wiped clean because of fraud and it's going to take, you know, five, seven, 14 business days to get that cash back from the bank, then, yeah, you are going to be in a moment of, hey, I don't have any money. That would be a time to say, hey, I'm going to use the money out of my emergency fund. And then when my money comes back in my account, I can go back and refill that emergency fund. So I would say there's kind of two options there.

If you wanted to open up another checking account, I would totally be good with that just to give you peace of mind. And I understand that. Or you could say, hey, I'm just going to rely on my savings and my emergency funds if something like that were to happen. But banks are usually, they're getting better and better when it comes to a debit card. And if stuff happens, and the earlier you catch the fraud, the better off it's going to be. and a lot of times, you know, it's transactions here or there, not by a lot, because a lot of people that commit for odd, they try to stay under the radar, and so it'll be these little charges here or there hoping that the person that they stole

the card number from isn't even noticing. So the fact that you are being so diligent, you will probably catch it earlier and hopefully it's smaller amounts if it even happens, right? I know it can be common. It hasn't happened to me in a really long time. I mean, probably seven, eight years ago that happened, how to get a new debit card. It was like the whole thing. But they refunded the money, the bank did, again, because it was under that protection.

And it was great, and it was fine, but it is inconvenient, if you will. Yes, yes. Does that help you at all on a tactical level of just being able to have options? Yes, yes. I just wasn't sure how to go about it. And, you know, if I opened a second checking account, does it just kind of sit there, like a savings and what do I do with it? Or is it just there for, like, safety to just go and have, you know, in case it happens. And I know it's very rare, but I think because it's that fear that it happened once before,

even I had my card stuck in an ATM once before as well. I have that kind of luck. Yeah, so I just like to be prepared and have just more than one little debit card as a backup. I think that, and I think that's totally fair and very realistic, by the way. And, yeah, I think that that's a position that is very smart. And what's great about this money journey, you know, obviously we have the baby steps. We have these principles that were pretty black and white on, but how you go about that sometimes is really up in your personal journey. So these kind of

conversations, I think are great because some people are like, oh, I didn't even think about that. I'm fine. And it's not something that they worry about. But for some people, it is something to worry about. So I'm like, yes, speak to that fear, put things around you to safeguard it so that you can go on this journey with more peace. And so I think that it's very wise, very smart. You even ask the question. And hopefully that helps. Yes, it does. Thank you so much. I appreciate your time.

Yes, absolutely. Thanks for coming on too. I always love hearing people and diving into all these situations. And you guys out there, if you have a question, you can go to any of my social media, Facebook, Twitter, YouTube, Instagram, and ask your question. And we may contact you and you can be a guest on the show. I want to thank Audrey so much for her question and for George Camel for being on the show. I hope you guys enjoyed this episode. Thank you so much for listening.

And if you have not hit that subscribe button, make sure to do that. And if the spirit leads, you can leave a review. As always, remember to take control of your money and create a life you love.