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Usually on the How To Money podcast, the hosts Matt and Joel dive deep into a single topic about personal finance, sometimes with expert guests; everything from paying off student loans to the best ways to handle investment accounts to traveling the world on a budget. But on Fridays, they select some of the choicest financial headlines of the week to share their thoughts on things like the real estate market, Buy Nothing groups on Facebook, the daily commute, and much more. On this “Friday Flight,” they share some tips on budgeting for the holidays, explain why most NFTs are worthless and rent control isn’t the solution some think it is, and celebrate Taylor Swift’s business savvy.
NFTs are something of a novelty investment in the crypto space, though some swear up and down that they offer incredible returns for your investment. And if you only paid attention to headlines, that might sound true; it seems like every NFT sells for hundreds of thousands to millions of dollars! But according to Fast Company, the University of London dug into the data and found that most NFTs sell for $15 or less. Only 1% of all available NFTs sell for more than $1,500 – and a majority don’t sell at all. That means most people in NFTs, both creators and investors, are losing money. So even though these digital artworks might seem like a cool way to get into the crypto space, the guys caution to only buy an NFT if you actually like it and want to own it – there’s no guarantee it will ever sell.
But the prevailing financial topics on most people’s minds are inflation and the labor shortage. The guys offer some practical tips to get through the strain these rising costs will put on our wallets; then they move on to the implications of the labor shortage on businesses. For every one job, only .7 people are looking for work, which means businesses are struggling to keep up with demand. That’s been great news for workers, who are seeing wage and benefit hikes that should have happened long ago, but for some business owners, it’s been a tough problem to fix. So demand for robots to take over certain tasks has been at an all-time high. Should we be worried about the robot revolution? Find out about that and so much more on this episode of How To Money.
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