Are you frugal enough? Rory O'Neill explains

Episode Transcript

Speaker 1 (00:00):
The Alabama's Morning News. I'm JT. And our buddy Royal
Nail Joins is now a couple of topics he's been
taking a look at here. Is it cool to be frugal?
I would probably say yes at this point in my
world in my life, But was I frugal my entire
life like I should have been?

Speaker 2 (00:15):
Now?

Speaker 1 (00:16):
Good morning, we're welcomeing.

Speaker 2 (00:18):
Yeah, good morning, JAT. You know we're seeing that now
sixty one percent of Americans think it's it's not as
tacky to say that you're frugal these days compared to say,
a decade ago. So it's it's a bit more in
fashion to say, you know what, I gave up HBO Max,
or I can't go out Friday night because you know,
I got to save money and pay down some credit

(00:39):
card debt or something like that. So it's much more
acceptable these days, especially among younger generations, to be much
more open about finances. You know, you used to there
was a rule never talk about money in politics, right,
but these days everything's on the table.

Speaker 1 (00:55):
Well, I you know, frugal's one thing, but I don't
know if that's the same thing as being you know,
a tide wad or you know somebody that's just somebody
that just doesn't want to, you know, tip very well,
or just you know, just wants to hold back on
everything they do. And you know, I've seen people get
some cringe looks before when they're like, I'm only tipping

(01:16):
them ten percent. I mean, what are you talking about?

Speaker 2 (01:20):
So I think you call yourself frugal. You call other
people cheap, right, yeah, cheapskate.

Speaker 1 (01:26):
Here's another one. Yeah, I like that guy, but he's
a chief skate tight one.

Speaker 2 (01:30):
Right. But you would describe yourself as, oh, no, I'm frugal.
You wouldn't say I'm cheap. You'd say, oh, no, I'm frugal.
That guy he's cheap.

Speaker 1 (01:37):
Yeah, I'm not calling myself frugal either, because I'm not there. Right,
let's talk about speaking of money. You're losing your jobs.
People scared about this. It seems that that thing is
still hovering over. It's the dark cloud of you could be.

Speaker 2 (01:52):
Next well, right, but look, for a long time there,
coming out of the pandemic, it was the employee who
was in the driver's seat. Remember the great resignation, And
we could all sort of picked the job that we
wanted to have but these days it looks more and
more like Americans think that, oh, we might be in
for a bumpy ride when it comes to the employment picture.
The latest survey by the Federal Reserve Bank of New

(02:13):
York finds that forty four percent of Americans think that
the jobless rate will be higher one year from now
than it is today. That's the highest percentage we've seen
since the days of the pandemic April of twenty twenty,
when people would thought that the unemployment was going in
the wrong direction. Specifically about their own jobs, About fifteen
percent think that their own job could be in trouble

(02:35):
in the year ahead, and that has implications because that
could mean that you're going to spend less. If you
think your job is in jeopardy, You're not about to
go put another two thousand dollars charge on the credit card, right,
You're going to hold back because you're saying, Oh, I
don't know if I'm going to have a paycheck next month. Yeah.

Speaker 1 (02:51):
I think we're going to see a little bit more
of that through the entire twenty twenty five, especially with
the market in what it's doing and companies really looking
at their bottom lines and and kind of tucking away
and being conservative about you know, hiring more people. But
you know, I had a friend tell me that, you know,
the job search is still you know, pretty good if
you if you can bring it. I mean, there's some

(03:11):
people out there. I was talking to somebody just yesterday.
Finding you know, good people to work for businesses is hard,
whether it's plumbing or it's corporate sales structure. Getting getting
good folks to come and and stay is still a
challenge for a lot of employers.

Speaker 2 (03:28):
Yeah. Well, and we're about to have a graduating class
hit the streets right in another couple of weeks, so
they will be out there as well trying to buy
it for those jobs. But you know, this is the
survey from the Federal Reserve Bank of New York. So
these are important because the results of these surveys sort
of factor into how they decide whether or not to
raise or lower interest rates. So it's an important number

(03:48):
if they think that unemployment is going to be going up.

Speaker 1 (03:51):
All right, Roy, thank you, buddy, I appreciate you.