Stock Market Crash: What To Do, Overpaying Your Mortgage & Lending Money To Mates (with Ryan King & Charlie Friend) | EP 200

0:00Charlie Friend: Guys, the stock market last week. What happened there? NVIDIA lost$450 billion in a day. I mean, in one day. That's absolutely mental, right? And NASDAQ down 5.5 % and two and a half trillion wiped off the stock market. Absolutely mental, right? How are you doing? Did you hold up all right? What's the crack? Charlie, tell us.

0:27Ryan King: Yeah, I've held up great. I love it when this happens because I always have a stash of money to stick and buy things that I've been keeping an eye on. Okay. So for me, it's like averaging down for my individual stock holdings. That's obviously not what I do month to month, obviously invest regularly anyway. But having that cash and seeing that, it's like music to my ears or to my eyes, I suppose. Yeah.

0:47Charlie Friend: Yeah, honestly, I think similar. I think with this, like a 5 % full, what it was, it essentially happened every year. Like over the last 100 years, 94 of the 100 years, there's been a 5 % dip. even like a 10 % fall happens every sort of 18 months roughly. So it isn't nice to lose. I lost about£10 ,000 in my global index funds, which is never nice to see, but it's just part of investing. When the Iran war started, that was about£12 ,000 down for that month. But I always say to people, if in doubt, zoom out. You look over five years, the global stock market is still up about 50%. So the 5 % dip is nothing.

1:20Charlie Friend: And what you were saying as well, Charlie, if you are investing for the long term, it's the best thing that could happen because you can buy the same stocks, funds, ETFs, whatever, at a discount. So that's how you've got to try and reframe it and just don't panic sell. That's the worst thing you could do.

1:33Ryan King: Because you say you lose 10 grand, but you haven't actually lost or solidified that loss until you sell. So the key thing is, hold on. If you're a long time investing, just keep going and ignore it. Delete your app if it really gets to you. Yeah. Yeah, I was laughing almost.

1:48Charlie Friend: See, we match our answers on our clothes. Yeah, I know. Completely in sync. Inside. In and out of investments. I know. Honestly, if you're listening on audio, tune in to the YouTube just to see these two.

1:58Ryan King: It's the Gooner squad, isn't it? Are you a Gooner as well? I actually said that earlier. Did you? Yeah. Oh, my God. You're not listening to me already.

2:04Charlie Friend: Yeah, I know. I was panicking. I was like, oh, my God, we've got so much to talk about today. What are we going to do?

2:09Ryan King: No, I'm a Gooner. You can even introduce that as a topic if you like. You know.

2:12Charlie Friend: We did an Arsenal thing last week as well. I know. Saved it. Oh, well. Champions. But I love you said that, Charlie, because the thing is, I do this, and a lot of people come for me when I say it as well, that I leave a little bit in cash. I like having powder dry. I like having powder dry for a little bit. Okay, I'm going to edge into a global index fund. I like having powder dry for like one of my longer term individual plays. It gets absolutely, sometimes some of my plays, because they're usually in tech or fintech or e-commerce, it gets super volatile. Like one of mine last week was down 27 % in a day.

2:47Charlie Friend: And I'm like, hello, because I have in my head a price target for it in the future. so I just see it like jacket discount

2:55Ryan King: Precisely how I look at it like all my space stocks are absolutely in the pits and when you see minus 60 % you're thinking brilliant but you just think of the long term vision and if you believe in what you're investing you've done your research you've just got to hold steadfast and keep up to date with what's going on it's one of those things that there's going to be corrections especially when it was on that hype train what goes up must come down sometimes so it's almost expected in a way like you said Ryan

3:16Charlie Friend: I think part of the issue as well is all the headlines so I saw loads of headlines on Thursday like three trillion wiped off. There's a sea of red and it sounds really dramatic so you naturally panic. When you look at the stock market, like I think the S &P was down 4%, a global index funnel's even less. Like in the grand scheme of things, it's not actually that much. Just keep investing. Don't panic sell and you'll be fine. It did hurt though. It's not nice. I looked so fine and it was like 26 grand down in the portfolio. I was like, what the hell is that? I think because I've gone through that now, probably I'm talking 10 plus times.

3:50Charlie Friend: the first time it happens is really scary and there's just no getting around now because you've not been through it before by the fifth time you start edging in and by the 10th time i'm like yes because you just have to scan out you're like i'm thinking well i'm not going to touch this until i'm in my 50s that's it and i'm like really most of it anyway unless i really really really need it but i don't right now and that's why i have an emergency fund right and so that's why it's in play so you've got to look at it like that the only things times i would potentially change is if for example obviously a lot of it was around the ai um bubble as such and the democrats winning quite uh um in the midterms winning quite a few uh seats is it over there it's like the house and the senate yeah so it's more it's more blue now isn't it so yeah the democrats are actually

4:35Ryan King: taking control and the fact that you know the market then reacts to that because trump is a big champion for ai and crypto and things like that so the market was reacting to that really in the sense of what does that mean for AI because they're going to be a bit more conservative and perhaps not spend as much or put as much government funding into it. And I think that's just the market's reaction to that. But, you know, I think it's a positive for politics and the world in a different way. The stock market, as we know, is very emotion-driven and that's exactly what happened.

5:01Charlie Friend: Yeah, there is around like them potentially putting like stoppers on data centre rollout. Exactly that.

5:07Ryan King: And that's what caused it. And, you know, 4 % down, that's not a crash. That's just minor corrections.

5:12Charlie Friend: social media we will tell you differently I actually I've done a YouTube video today about looking at a dip like this and in the last five years a 5 % dip has happened 12 times

5:20Ryan King: there you go

5:21Charlie Friend: so it's not nice

5:23Ryan King: 12 crashes

5:23Charlie Friend: it's trump tariff levels for me it's on the same ball game I'm looking at it and you're so right if you don't zoom out for literally 24 months and you look at it and go well the thing is I looked as well today so a 30 % crash is quite a big crash by modern standards if there was even a 30 % crash tomorrow we'd only be back to the levels for a global index fund in February 2024. Oh, there you go. So it's like, what's that like? A couple of years wiped off. It's very, so even though it was a massive crash probably that's the worst crash in nearly 20 years we're only back a couple of years which is why you just got to try and get in your head don't try and time it don't overthink it don't wait to start just get started, be consistent and then you'll be fine.

6:05Charlie Friend: Love that you said that and right in the middle of all of this we've got like Anthropic everybody knows that knows me that knows I'm a little Claude geek I mean I literally I love Claude

6:15Ryan King: I love Claude thank God he works with me every day

6:19Charlie Friend: he's working right now he's actually editing videos for me while we're on this podcast he's editing this podcast as we're recording it live he's live Claude is live in the building but Anthropic are the company behind Claude and it's about to float and there's been some pretty mental numbers it's done 33 billion dollars in revenue in the last nine months is going to be the ticker, A-N-T, raising a lot, right? And there was talk of$2 trillion. But after this crash, shall we call it, it's come down quite a lot. Is it 1.3 now? 1.3 to 1.1. And there's said to be new talk about things being different today.

7:00Charlie Friend: I still think this is absolutely mental. What was your kind of feeling on this anthropic IPO? We'll start with you, Charlie.

7:06Ryan King: I mean, I was actually looking at it the other day because obviously naturally I'm getting a lot of questions around, do I buy IPO? And most of the time it's no, it's probably overpriced, and particularly when there's hype. In a way, you know, when you look at the revenue and the numbers, it is very, very good. And what they've managed to do in the last year alone in terms of that growth has been insane. And, you know, the money does back it up. So when there's that concern of like, is it a hype, is it a bubble, when you're looking at Anthropic in particular, well, no, because the revenues are there.

7:34Ryan King: And most of their revenue actually comes from claw code. which is like business sales. So it's not your end users like me, you, you know, like ChatGPT and things like that. It's actually businesses that are using it to replace or even enhance people that do coding. Oh, that's interesting.

7:46Charlie Friend: Yeah. I thought it'd be more like us using it.

7:49Ryan King: No, so Claude is actually more the business guy is the way I would describe it. And then ChatGPT is more like your normal everyday user. So when you look at the numbers behind it, as you said, you know, is it 33 billion?

7:58Charlie Friend: Yeah. I think that's in like nine months.

8:00Ryan King: And even between May this year and September this year, I think it doubled.

8:04Charlie Friend: And I think the forecast they made was like 7 billion or so. It's like a 5, 6x outperformance in such a short period of time. It's crazy.

8:11Ryan King: Yeah, so it's beating expectations. But obviously, the thing to remember is it all comes down to market sentiment. So it might be worth on paper 2 trillion. But once people start panicking about this AI thing, that's why it's come down. And I don't know how much people know about how an IPO actually works. But obviously, they go out to the market and they go to these big institutional players and they say, how much do you want to buy? How much do you want to earmark to get involved in this IPO? And that's what ultimately drives the price. so it all comes down to I guess the sentiment of these big businesses you know Google's got 14 % investment in it so that's linked and it's all very circular very incestuous across that indeed so yeah I think that it'll be interesting I think that no matter what price it's probably going to be higher than perhaps you should be paying for it but I mean I'm actually quite curious for the first time in a long time when it comes to IPO wasn't interested in SpaceX but Claude well and frolic I am keeping a closed eye on I think

9:01Charlie Friend: I always do it like if you I literally spend my whole day on it so that's what I mean when you think about it it probably makes a lot of sense if I'm ploughing I pay for the max plan because of the amount that we have to do on it

9:13Ryan King: yeah

9:13Charlie Friend: and it's like that's 180 quid the value I'm getting back at so do I pay for it too so when I'm in everyday people

9:18Ryan King: I'm speaking to and they're paying for it yeah

9:20Charlie Friend: so like in my mate's whatsapp groups it's mad because they're all still like you know chat tbt make this email sound good right And isn't it like it just for me, the levels that we're using it at now to the everyday person, it's just nowhere near caught up. I think it's like under a percent of people across the world pay for AI. They're actually users. Yeah. So it's really small. Like ChatGPT, apparently only 5 % of people actually pay for it, which is why they're worried that there's going to be all these like forward contracts going to sort of run out of money. I'm not sure what the stats are of Claude, but I feel like Claude, people use it more for like coding.

9:52Charlie Friend: I use it for my website, for editing my videos now. There's more use cases for it. so it should hopefully do better. But I guess the main point is with IPOs, they normally are overhyped and are bad investments. So that's why I probably won't invest in it. But one sort of nuance, and this happened with SpaceX as well, is that when it does get listed, most index funds and ETFs will buy it. And that's because they changed the rules for SpaceX. Or essentially, in the FTSE world and the NASDAQ, it will almost get instantly added to those two indexes. It won't with the S &P, but it will with the FTSE world and the NASDAQ.

10:26Charlie Friend: So most people will automatically be invested in it anyway. So everyone's going to have a bit of a vested interest, even if they don't realize it.

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11:52Charlie Friend: Yeah, because it puts it right up into the close. I'm not sure if it's top 10, because I don't know what that falls off, but it will be very close to it.

11:59Ryan King: I think it'll be top two. The second largest IPO ever, I think. I'm pretty sure.

12:03Charlie Friend: Oh, wow.

12:03Ryan King: Yeah. So I can't remember what the top one was, but it's up there.

12:07Charlie Friend: Yeah, it's all SpaceX. SpaceX was...

12:08Ryan King: Yeah, it's higher than SpaceX. Yeah. SpaceX was about 850 billion. And I think if Anthropics even a trillion, let's beat that. So it's massive. That's nuts. Yeah.

12:16Charlie Friend: That's nuts. What are you going to do then? But it does seem like it's here to stay. It is weird, though, because it could be massively overvalued and it could just crash massively. It'd be like SpaceX did right at the start. But then if it's going to be here for, you know, 30, 40 plus years, then it could still be a good investment. But it's just so hard to time it, especially as IPOs. It's tough because it's potentially the one that could end us. And it's like, well, we're buying into it, but actually are we buying our own, like, downfall? You're sort of playing with that, like, it's a real tough line.

12:44Charlie Friend: I think a lot of the people that are perhaps more sceptical about the Anthropic IPO is because of their data centre commitments being such a massive part of that and in this enormous amount of their revenue over the next few years being put into data centres, which I get. But another thing to add, I think the second point from what you said there are really, really important. When it's priced, it usually means it's already, people have already priced in and priced in potential future growth as well. So what you're buying. Priced to perfection, as they say. Exactly. Exactly. So it's a tough one, really.

13:22Charlie Friend: Still on this AI hype, though, Mr. Jensen Huang.

13:26Ryan King: Little devil. What have you been up to?

13:28Charlie Friend: What have you been up to? It's mental. So he emailed the NVIDIA staff today saying that it'd been unfaithful, and he was deeply sorry. And the woman is Alice Huang. No relation, though. A former executive at Megaspeed, a Singapore company that buys GPUs from NVIDIA. and the New York Times says US intelligence concluded that she was passing information to Beijing and shares are down roughly as we speak around about 4.5 % but they have been as low as 8.8 % one day it's absolutely nuts it's mental because Apple just overtook NVIDIA again to be the biggest company in the US but NVIDIA for the long time was the biggest company he's a billionaire, he's been married for 41 years I think he's got quite a few kids and he's literally cheated, thrown all that away with a Chinese spy and I've been selling or giving the GPUs to the Chinese government.

14:20Charlie Friend: It's absolutely mental. What's this GPU thing? Yeah, so I heard this on a podcast I listened to earlier on today that apparently the commitment that this black lady got into was to, well, she wanted to buy, she met at an event and I think she bought 125 ,000 GPUs from Nvidia. They got delivered somewhere. I don't know where it was, but they got delivered somewhere, I think in America probably. And then when I actually went to visit the site, this is about a month ago, only 5 ,000 were left. So 120 ,000 have gone missing and they've apparently been sent back to China. And the reason why that's a big deal is because there's obviously a bit like the space race with America-Russia back in the day.

14:54Charlie Friend: There's now the AI race between America and China. So it's a bit contentious. It's a government, I guess it's a security threat, to be honest. I mean, Trump doesn't seem to care, but it's definitely not good. How do you feel about it, Charlie? Like, obviously, from an overall perspective, he's a main player CEO.

15:13Ryan King: Yeah, and that's what's funny to me is when you do research and you say, you know, look at PE ratio, look at forward earnings, look at what's valued at. You don't think you have to look at whether, you know, how horny is the CEO, right? You don't factor in Chinese spies. Yeah, you don't factor in Chinese spies or anything like that. They just go to show you don't know what's going to happen. I do think that it'll be fine in a week. I think that, you know, when you look at the core business and what it's doing, okay, fine, there's a risk that, you know, the Chinese have now got all these GPUs, but is that really the first time they've got their hands on something like that, that NVIDIA's made?

15:41Ryan King: I don't think so. I could be wrong. But, you know, I think it's not great. But, again, I think it's a bit of an overreaction. You know, it's not ideal, the CEO, but it just goes to show it's all about emotion, what the market thinks about things that drives the price, because nothing's fundamentally changed about NVIDIA's business in a day.

15:58Charlie Friend: No.

15:58Ryan King: So, yeah.

15:59Charlie Friend: Just the CEO's horny, as you said. Just the CEO's horny. But the interesting thing is because Jeff Bezos, I don't know what he was worth when he got divorced, when he caught cheating. But I think, yeah, the NVIDIA guy is worth$160 billion. So if he gets divorced, I mean, his wife's going to have potentially 80 billion. So it's pretty wild. It's a tough one, isn't it? Expensive bang for him. I mean, look, being unfaithful in any regard, let's just put that out there on the internet because this guy out there, we are not saying it's right. But from a company perspective, it's a different ballgame, I think.

16:33Charlie Friend: Well, the thing is, well, he's the leader of essentially one of the biggest companies in the world. And he's got, I don't know how many tens, hundreds of thousands of people working for him. Yeah. Like loads of them are going to be disgusted. Yeah, totally. So will people leave? Will people sell their stock? I mean, I think it's going to be fine, as Charlie said, but there could be loads of repercussions. You don't even know they're going to happen. Well, yeah, so NVIDIA's board have launched an independent review run by independent directors with outside lawyers. It says no reason to believe any secrets were compromised and Huang says he will cooperate in this investigation.

17:04Ryan King: That's your bloody hope, though.

17:05Charlie Friend: It's your company, mate. Your CEO.

17:07Ryan King: Yeah, yeah, like, you know, you don't want it going down, do you?

17:10Charlie Friend: No, no. Coming back to the UK, we've been over the pond chatting about AI to our death for the last 15 minutes. But the Bank of England raised rates last week for the first time since 2023. If you fixed a 200k mortgage at 1.3 % five years ago and you're remortgaging now, that could be up to£4 ,900 a year more. That's a holiday pretty much gone. That's a couple of holidays for me. A couple of holidays depending on where you're going. investments right five grand in your investments it's a big deal and this one's personal for me as well because um we moved house our rates went up so when the rate when we refixed we were on a 1.4 i think it was at the time quote me on that um don't quote me on that but it was around 1.4 1.6 i can't remember exactly but then we jumped up to like 4.5 and then now we're at 5.1 so we've gone all the way up the chain yeah our mortgage originally was like 890 pounds now i'm paying like 2 ,100.

18:10Charlie Friend: And it's just, obviously the mortgage now is bigger because we've moved house, yes, but still, a large part of that is interest and it's just scary. Yeah, it is. We've got 1.6 million people ending tracker deals in 2026. That's what I was going to say. A lot of people are coming off for those cheap fixes. So there's going to be like a potential mortgage crisis. I mean, as if the cost of living isn't bad enough for most people. So I think it's going to be rough in the next couple of years. Unless the war in Iran stops suddenly, which hopefully it will now that the Democrats won the midterms. And then if energy prices come down, inflation should come down.

18:42Charlie Friend: And hopefully, in a dream scenario, in a year, interest rates could start, like, be cut quite a bit. But there's so many ifs, buts, and maybes. It's impossible to predict. A lot of this is spillover from the rates, the oil prices being so high, because obviously companies will stockpile over a period of time, so they've already, like, built a lot. But oil's down 5 % today. And that's off the back of talks as well. So hopefully that happens. But this is the problem, like, people have this in like uh kind of dilemma i suppose of like how long do i fix for like i kind of foresaw there being quite a few turbulent times ahead so we went for five years and even though we're at 5.1 and that is super super high technically if it was to get way worse which right now you're looking at you know a five-year fix you're looking at 5.9 not 5.99 and a two-year fix at 5.97.

19:36Charlie Friend: I've seen some over 6 as well. But then the variable rate is only about, what, 4.2 now? Good question. Yeah, because I'm pretty sure that the actual, I think like the people that set those swap rates, they were banking in four increases in like a percent essentially over the next sort of four times the Monetary Committee do it for the Bank of England. So I actually think now, and this is where it happens, could be a good time for a variable rate.

20:01Ryan King: I actually agree.

20:01Charlie Friend: Yeah, fixed rates are good because you know exactly what's going to pay. But because there's so many more interest rate increases banked into the fixed rates already, it's one of the very rare times when actually being on a variable rate is probably better for you. Yeah.

20:16Ryan King: Yeah, and I think, you know, the other thing is, right, we're all focused on the oil and the war, but actually there's other reasons for this interest rate hype when you think about why they do it. It's to, you know, control spending to make sure that people aren't outspending loads of money so they save because you get better rates on your savings, more money's going into your mortgage, things like that. And so the idea is to try and bring inflation down and get a handle on it and obviously a big part of that is oil prices but you can't ignore food prices um you know you hear about all these headlines i think wasn't it shell the other lbp you know record profits all that good stuff yeah so classic so it's like you know that's one part of the puzzle but there are also things that i think you know we are in this in this economy in this country struggling and you know it's food prices oil prices it's everything it's just it feels relentless and then you know in the same breath with you know the um fiscal drag with people's incomes and things like that.

21:04Ryan King: It's just coming at all angles. And so I do think that it probably will go up again by the end of the year because, like you said, they're sort of pricing it in. They want to cover that. But, you know, gone are the days that we had, what was it, like 0.5 % for 10 years?

21:16Charlie Friend: That's wild to think about all the 2010s. Yeah.

21:19Ryan King: And that happened to me. I mean, I saw my flat a few years ago, but I had a really decent rate and I regret because I only locked in for three years because I didn't want to commit for some reason. And it ended up doing me over, I think, when I had to remortgage. and the rates weren't even that high then. It was still, you know, quite reasonable. I think it went up by like nearly 500 quid. And it actually feels gut-wrenching knowing it's all in interest.

21:40Charlie Friend: The plus point is you probably get more on your savings. I've seen the rates go up from multiple providers.

21:45Ryan King: And they're reacting quite quickly nowadays. Usually they drag their feet, right? If the interest rate goes down, you see a cut the next day.

21:50Charlie Friend: Well, it's like a war, isn't it? It's like I get emails. It's literally the day the rate went up, I got emails within minutes.

21:56Ryan King: Yeah, which I can't remember the last time that they've really been that quick with it. I mean, you know.

22:00Charlie Friend: They were really quick this time. They were. It's like trades funds who, like, yeah, all the investment platforms, bang. Because that's what I was going to say, actually, for people that are, because the rates are so high now, I think there's still hundreds of billions that are sat outside of ISAs. So people here who are listening have got their ISA allowance, some ISA allowance left over, and they are paying tax on their interest that's outside of an ISA. Just get that money in a cash ISA because you're going to save yourself tax. Yeah, with a higher rate. Yeah, and you can get a better rate as well.

22:27Charlie Friend: Yeah. Well, the other thing to think about, you know, people talk about this, should I overpay my mortgage?

22:32Ryan King: Should I invest? I mean, you might not even have any money to overpay over what it's going up at. But the direct saving that you get is a guaranteed rate of return if you do have a higher mortgage. So there are some ways some people might prefer that instead of investing in the stock market, which I totally get. That's risky too. But at least with that, you've got some, you know, sense of comfort. If your rate does go up to 5.99, if you overpay, you know, you're getting that as a sort of rate of return, if you like.

22:54Charlie Friend: Do you mean like overpay your interest from your savings?

22:59Ryan King: Yeah, so overpay your mortgage. So what you would say put into your savings rate, for example, because it's never going to be as high as the mortgage rates, right? So your bank account, I don't know what it is, like 4%. But if your mortgage is nearly 6%, you actually gain 2 % by overpaying, right? Because you cut down how much interest you're going to pay. So there's different ways you can play it. But again, you lock it up as equity, things like that. Whereas cash is obviously more liquid. So it really depends on how you feel, how confident, how do you need that money? things like that. That's actually a good point.

23:26Charlie Friend: Sorry. Because I don't have a mortgage, but when it gets to sort of 6%, it's quite tempting to actually overpay. Yeah. The counterintuitive thing is when people are on really low rates, they like to overpay. Whereas they're actually much, much better off investing. It's the cheapest that you ever get. Yeah. Agreed. Whereas now the rates are getting to 6%. If I had a mortgage myself, I'd probably be thinking, well, the real-term returns of the global stock market are around 6%, 7%. Exactly. But that's quite uncertain. Everyone thinks we're in a bubble. Who knows what the return's going to be? Whereas as Charlie was saying, you can lock in 6%, maybe more, you were saying in some cases now.

23:58Charlie Friend: So that's actually quite tempting to do that. So you've got excess money, 4 % on savings, uncertain percent on investing, 6 % on mortgage. It does look pretty attractive. It does, man. It does. And I totally get that argument. Like, if I was on, I think if I, personally, the way I look at this, and this is personal, again, not financial advice. Never is. Picking stocks. 20 % of you. Picking stocks. I never ever pay your mortgage. No, I'm joking. For me, if it's like 3.5 % or below, that's kind of where I set my limit. If I can get more than 3.5%, then for me, that money, because I think of this long term, is better placed in other areas.

24:39Charlie Friend: So if it's under that, I mean. If it's over that, that's when I start looking at it and going, hmm, this is interesting. So for example, what I'm doing right now is, quick gains at a plug, got to be done. I'm utilising my cash back and me and the missus what we're getting on cash back we're using that to overpay our mortgage so if I'm getting 5 % back on my food shop I'm getting that over the course of the month missus is buying other things I'm buying other things technology all of that jazz around about at the moment for me average month is like 70-80 quid that's a decent level to overpay but that's money that I'm not really that worried about I didn't have it anyway free money

25:15Ryan King: when I say overpay it doesn't need to be thousands of pounds I overpaid my mortgage by£100 a month. So it wasn't, you know, low. And that is a lot of money to some people. So I'm going to sit here and be like, it's not lots of money. But the impact that had for me over five years meant I built up so much equity because, yeah, that value of what you're overpaying goes up the higher the interest rate is because your return obviously is greater. In the sense of you're not paying as much interest. I don't want to be confused with, oh, yeah, I'm making money. It's more that you're just paying less.

25:44Charlie Friend: There's a double-edged sword to it because the money you put into that equity potentially increases in value.

25:49Ryan King: Potentially.

25:50Charlie Friend: Potentially.

25:51Ryan King: Yeah.

25:51Charlie Friend: Of course. Could. Past performance. Increase. Yeah, yeah. Could increase in value. And so there's two ways of looking at it. You're lowering your interest payments and potentially the equity that you then incur has a potential growth rate. And if, for example, it follows trends that say 1.5 % growth rate on that plus the lower down interest payments, It gets mathematical and that's where people get lost. But actually, when you really dig into it and run the real life term numbers, it can be very different. So there are two sides to that story. However, if it is low, personally, I would like to play the field a little bit more on the stock market.

26:29Charlie Friend: That's just my opinion on it. But I am doing both right now. I'm doing both.

26:33Ryan King: I always think a combination of the two, it's like ISA and pension, overpay, invest. It's a mix and match thing for me always.

26:40Charlie Friend: Right. the big one guys the big one I've been waiting to say this because I know Charlie's going to literally go nuts

26:46Ryan King: GTA 6 man do you know how long I've been waiting for this game it looks beautiful stunning rockstar I hope they've nailed it though my biggest fear is it comes out and I've spent what is it nearly 100 quid on the deluxe version there's no other version in my mind it's not that much yeah yeah yes but for me 89 quid I was at 89 quid okay right so I saved myself a tenner there but I mean for me like I was watching a video the other day about how they priced it. I think it's really clever because you can buy the standard edition, get all of the stuff that you would need. But the idea is if you want the full experience, if you want to really enjoy GTA, pay your extra 20 quid.

27:22Ryan King: And I, yeah, I was like, take my money. So that's what I'm going to do. This is a good effort. There's no content coming from me in the next few weeks. What are you doing? I'm with you. I'm so with you. And if it is going to be yuck content

27:33Charlie Friend: while I'm paying GTA, while it's loading, I'll do a quick video.

27:37Ryan King: Maybe you should chug 100 quid into Rockstar as well. They're listed, aren't they? Yeah. Is that going to shoot up?

27:42Charlie Friend: These numbers are nuts, right? Just to say, I don't know if you've seen these, right? So pre-orders alone are now$750 million before it's even out. Now, it's said to have cost them between$1 and$1.5 billion. That could go up to$2 billion with marketing. However, 74 % are pre-orders on PS5. Yes. Which is just mad. So they have basically recouped half of their costs before the games even come out. And I would say that's going up by the millions as we get closer. And is there like paid for features inside the game as well, probably?

28:14Ryan King: Well, this is what, again, so what's really clever about this is if you buy the standard edition, you can upgrade to the premium one once you play it to get those features. So they're getting people in. And then there's going to have that other revenue stream, I reckon, where people go, this is bloody sick.

28:29Charlie Friend: Yeah.

28:29Ryan King: I want these cars. I want, you know, these chop shops, whatever you get with it. I can't remember the whole list. And then that's another from everyone, you know, globally that's buying it. I actually think they will make their money back probably by the end of the year.

28:40Charlie Friend: Mate, I am passing to... Because how many years have they been in the making for? The whole meme is like, X before GTA 6. Everything's happened. There's a global pandemic before GTA 6. Arsenal finally won the league again before GTA 6.

28:50Ryan King: I actually think, did Arsenal... When did it come out? Because I remember being a kid.

28:54Charlie Friend: Yeah, I played GTA 5 as a teenager. I reckon it was like 15 years ago when it came out. I actually don't know. Maybe like 2010? So GTA 5 cost$265 million to make. That's inflation. yeah so it costs 10 times the amount nearly

29:07Ryan King: what GTA 5 or 6

29:08Charlie Friend: GTA 5 costs 265 and GTA 6 is said to cost 1.5 so I heard as well in GTA 6 isn't there going to be a stock market in the game yeah there is in GTA 5 oh is there yeah I didn't realise that mate that's one of my I was about to say this this is my I love this because you get some guy who will go on like Twitter or something and be like this is how you become a billionaire in the game and I was like followed it and did everything thing and then I was just driving around in tanks like just bang that is a great way to get people

29:39Ryan King: investing try it on GTA you can learn you know and then it's like you do have to go and pop someone I don't know what the missions are going to be I thought it's a nice little innocent you know you go to the stock market you know buy a little whatever it is you're going to buy in the game Oh, no. It's nefarious as hell.

30:00Charlie Friend: Like, you are... That is really funny. Right. I did not know that. You're, like, bombing your headquarters. What?

30:05Ryan King: Sorry, this is linked to you getting shares in the stock market in the game.

30:08Charlie Friend: So you can buy shares in GTA V, right? And then so you buy them and then they go... The trick is that you have to, like, go and basically make that business go, like, bad. So you've bought the competitor in GTA V. You go and, like, shoot the CEO or bomb the headquarters of the competitor. And then your stocks go through the roof. And then you sell. Oh, my God.

30:30Ryan King: You cannot clip me saying, go and practice. Do not practice that. Do not practice.

30:37Charlie Friend: Do not practice that. And then do like the split edit when you're in the game, you're getting a CEO. Yeah. And you're just saying, yeah, just go and practice. Yeah, yeah, yeah. Just practice this, yeah. Honestly, though, I am going to really struggle to do any work.

30:50Ryan King: I mean, this goes to show, though, like, I mean, I don't know if you guys played Cyberpunk, right, when it first came out. It was rushed. Beautiful game. but because of how many bugs and the fact they wanted to get it out quick because of the money ruined it for me like i never touched it again and so many people like it's better now it's great now but you know it's not interesting i think that's why even though we've been waiting for 15 years it shows how much time and investment they put into it and again a long-term investor you know you know similarly there but um i think that i do think it's going to be fantastic and i've i read somewhere that how many weeks is it like takes a complete six i think yeah wow in pure just sat down time if you were just sitting there That's not including

31:28Charlie Friend: like side missions Correct That's you like driving straight to every mission and doing it It's 250 gig

31:35Ryan King: so like your whole PlayStation is just taken up with the memory That is mental Well I remember when

31:40Charlie Friend: like COD used to come out every year and the servers would crash on day one instantly Surely this game everything's just going to go down and there's like hundreds of millions of people playing it around the world It's going to be mad

31:50Ryan King: I think that that's where Rockstar I mean Red Dead Redemption 2 all of these games what a game

31:55Charlie Friend: that was my best favourite game what a game yeah and it's because they spend

31:59Ryan King: loads more time nailing those yeah they nail those little things like that the server's crashing I just don't think it's going to happen maybe everyone will come for me and be like you were wrong yeah

32:08Charlie Friend: this could be a good clip yeah quote me you can quote me so pulling a sickie

32:14Ryan King: oh I can't if my boss sees this I'm going to be dedicated to my job

32:19Charlie Friend: Charlie will be 9am she'll be there she won't have slept no because she'd have been awake all night

32:26Ryan King: don't get me wrong I've got the day off and the weekend free have you yeah get over the initial time

32:31Charlie Friend: what day is it coming out Friday 19 oh is it Friday yeah it's a Friday night that's pretty ideal I've done that well

32:36Ryan King: yeah yeah

32:37Charlie Friend: so no I can't wait it's one of them things I don't know I just want to feel like a big kid again for a bit yeah and I think we should like allow that I mean too serious in today's day and age too much going on too much rubbish in the world like and really interesting a friend of ours Christos did a video on this about how much you would save by not going out. It's actually nuts. It's in the thousands.

33:00Ryan King: I've been saying this about gaming for years because I always get judgment like oh it's a bit of a loser hobby right you know you're a hermit sat in a dark room with your headset on but for me the amount of money you do save because if you go out on a night out as Christos says you know you pay for this that and the other you've probably done a one-er.

33:14Charlie Friend: So for me I just think yeah I think it's

33:16Ryan King: a worthwhile investment.

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34:30Charlie Friend: And now, back to the episode.

34:35I mean,

34:36Charlie Friend: the campaign's going to take six weeks as well. Realistically, for most people, probably like three or four months.

34:40Ryan King: Exactly.

34:41Charlie Friend: 100 quid, a couple of times a week.

34:43Ryan King: That's before the online really rolls out. You know, go on a game and steal cars. Rubber stamp. Can't wait.

34:52Charlie Friend: And kill the CEO to boost the stock market.

34:57Charlie Friend: Black Friday's coming up. And which actually tracks the deal. So have you seen this? I don't know. Every time Black Friday's been coming around recently, you get the likes of the content creators all come out going, be careful about the prices. But the competition watchdog actually find Wayfair 4.8 million pounds for fake countdown timers. Cyber Monday is now said to beat Black Friday this year. But apparently Brits are planning to spend 267 pounds this year on Black Friday. However, last year they spent 390. So spending is apparently going down. Do you think that's real or not? I feel like people sort of know that Black Friday is just a scam now.

35:41Charlie Friend: because they always seem to increase the prices quite a lot. But you can track them all on camel, camel, camel, and you can actually see what the real price is. That's it. Camel, camel, camel. But they often massively increase the prices in the run-up. So it's like 50 % off, but there's actually only better deals on just random times of year. It's the same with websites like MyProtein, BulkPowders, when I used to buy all that when I was at uni. They always, it works with the same price across the year, essentially. So I think most people know it's a bit of a scam. And often the deals I find personally just aren't that good anyway.

36:10Charlie Friend: Unless you're really wanting something specific and it is actually on discount, for most sort of things when you're on Amazon's homepage, there's never nothing that great, I don't think. Yeah.

36:19Ryan King: I can believe it going down. Because, I mean, when you think about, no one's got any bloody money. Yeah. Do you know what I mean? It's really hard, isn't it? And so, I mean, the way I do it is I buy things I need. So I'm on my last legs of deodorant trying to get that last bit out of it. I know it sounds ridiculous.

36:33Charlie Friend: Do you want to say anything? Yeah. I've run out of my Kills moisturizer. That's why I mean things like that.

36:38Ryan King: like things that you buy anyway you can try and time it with Black Friday it makes sense yeah that's a good point great great idea but like don't yeah like you said don't be fooled by things like oh you know 50 % off it probably isn't and if you weren't going to buy that anyway you've not saved 50 % you've spent 50 %

36:52Charlie Friend: 100 % 100 % I've been doing my Christmas shopping the last couple of years on that day and it's great for that because I'm going to be buying it anyway and I'm going to make my little list and keep an eye on it and it does help it does yeah yeah except about 20 % on something you're going to buy anyway. And it's a few quid. It definitely helps. Absolutely. Last year I bought a TV and that was when we moved into the house and it was a game changer. I got a wicked TV and it was like 60 % off.

37:18Ryan King: Yeah.

37:18Charlie Friend: I was going to buy that television anyway. That's exactly what I did a few years ago

37:22Ryan King: and I got mine. You just have to, yeah, things that you know you're going to spend and it's worth it.

37:25Charlie Friend: But say that again, camel, camel, camel. Yeah, camel, camel, camel. I've never heard of that. The funny thing is, the reason why I only track one thing on there

37:32Ryan King: and it's my own book.

37:34Charlie Friend: Just so, stop away and start investing. just so when it comes down to like 10 pounds, I'll put it on my story. But you can, if you go on it, type in any product. You haven't got to sign up. I don't think you have to sign up to it. Or maybe you do. But you can type in any product. I'm showing you like a bar chart of where the prices are. So you can see like a lot of things will just be the same price and they'll actually go down in like a random month in the summer and then I'll spike up before Black Friday and then come back down to the level they were at between like January and July anyway. So they're setting the price of your book?

38:04Charlie Friend: Yeah, I was going to ask you about that. yeah I've no control over that the publisher doesn't either yeah so often my book's actually around£12 even though it's like£14.99 you got free of them mate but then it came down like randomly to like£10 the other day but I reckon I bet I'll put it back up probably before Black Friday and then like show it as like another discount I don't know it's all just weird but yeah before we buy anything on Amazon specifically use Camel Camel Camel and you can actually see if you're getting a good deal or not it's a great book yeah cheers you can get it for a tenner on this Black Friday Yeah.

38:36Charlie Friend: Might be 12 quid. Right, we're going to do guess the number.

38:39Ryan King: Okay.

38:40Charlie Friend: I was so bad at this last time.

38:42Ryan King: You sent me with your tax guess. I was like, what do you mean?

38:45Charlie Friend: What, 100 mil? It's like, it's 10. It's like, Christ the liar, that guy is rich. Basically, I make the statement and you, I didn't say, three, two, one. You say the number out loud at the same time.

38:56Ryan King: Oh, at the same time. Okay. I was going to be polite and let Ryan go first.

38:59Charlie Friend: Oh. 100 mil. I know. Yeah, 100 mil.

39:03Ryan King: Yeah, 100 mil is every answer. You're not far off.

39:06Charlie Friend: So, yeah. All right. You ready? Let's go. George Michael's guitar from the Faith video was auctioned last month. Do you know the hammer price? I don't. Three million? I'm going to say. I've got to go three. Oh. Yeah, count us down. Three, two, one. One million.

39:31Ryan King: Oh, are we down the middle? Wait. Way over. Way over. Oh, really? Yeah, yeah. That's so iconic, though. I know.

39:38Charlie Friend: I know. So when I saw this, I was actually disappointed.

39:41Ryan King: How much did it go for?

39:42Charlie Friend: 180 ,000. What? Oh, what? I might have put a bit in the vanilla. Christ. No. Oh, especially because he's dead as well, isn't he? Yeah. So normally people that are dead... Like Christmas Day, mate. Oh, yeah. Yeah. So normally, like, people that are dead, their stuff goes to so much more.

39:55Ryan King: That's what I mean. I'd be coming back from the grave being like, oi, you lot.

39:57Charlie Friend: And normally, like, a really rich, I don't know, something like a billion hour would just get it.

40:00Ryan King: Surely there's a mega fan out there that's got more money.

40:02Charlie Friend: I really thought it would go for higher. Yeah, I thought it would go for more.

40:04Ryan King: I said three million. Anyway.

40:08Charlie Friend: It is a great karaoke song, though.

40:10Ryan King: Yeah. I can't believe that. I'm actually quite shocked.

40:13Charlie Friend: I know. I thought it would go higher. But hey-ho.

40:15Ryan King: Okay.

40:15Charlie Friend: Big up, George. Right. Number two. Maya Jammer's company has just filed its accounts. Do you know how much she made and what that was worth? I don't know. It's like her working for herself, or she has staff working for her and everything. My Jammie's company's revenue, yeah.

40:35Ryan King: How much she made in revenue last year.

40:37Charlie Friend: Well, Tray, she got 40k. I think they all got 40k for that.

40:41Ryan King: Well, I saw she quit Love Island, didn't she, recently? But she would have had all of that. Oh, God.

40:45Charlie Friend: Okay, you ready? I was always saying how much revenue she made. Yeah. Okay.

40:48Ryan King: No, I'm not ready. Sorry, give me a sec. I don't want to say 100 mil. I don't want to say 100 mil would be insanely...

40:54Charlie Friend: Oh, it's got to be a few quid. She's on everything now, isn't she? It's a few quids. Yeah. That's all I'll give you.

41:00Ryan King: Okay.

41:01Charlie Friend: Three, two, one. Two million. Oh, okay. Ryan's slightly closer. Uh-huh. So Maya Jammer's company filed its accounts for£4 ,025 ,070. Wow. In a tax year.

41:17Ryan King: Do you know what? Good for her.

41:19Charlie Friend: That is crazy.

41:20Ryan King: Absolutely amazing.

41:21Charlie Friend: I bet she put herself 50K.

41:24Ryan King: Do you know what? I'm factoring in the Traders money. She's on Traders, weren't she, this year, but that won't fall into these accounts. Yeah.

41:29Charlie Friend: That'll be last year. I wonder if that's, you know, she's got the eye things. She's got quite a few different suspensions. Well, that's what I've seen. I think about all of that.

41:36Ryan King: Is it her sort of like, you know, freelance company or is it all of her other companies? That's why I went eight.

41:41Charlie Friend: I bet she's got multiple companies as well. That's what I mean. So I think combined, like, what she's making. All the sponsorship, the TV stuff.

41:46Ryan King: That's it.

41:47Charlie Friend: I didn't know she had her own, like, skincare stuff. Yeah. So it probably is eight overall if we find the other companies where the money's hiding. That's very true, actually. I don't actually know that

41:59Because I've gone, I think, I've gone into redemption art with Maya Jam.

42:03Charlie Friend: I don't know. I sort of went off her for a little bit. I don't know why. And then I saw her on Traitors, really watched it, and then was like, actually, she's just a good guy. Yeah, she was good on that. She was an absolute G. Yeah. But fair play. I mean, that's good. Four mil. Yeah. And what, she's like mid-30s? She can't be that old, can she? Yeah.

42:18Ryan King: She's like, I'm my age. I say our age. And I was like, you're younger than me. I'm only 18.

42:22Charlie Friend: To do that well, so young. All right. last one I've guessed the number I'm so bad at this okay this is this is a bigger number 2-0

42:33Ryan King: I know I'm going to go really low this time

42:35Charlie Friend: we'll do next goal wins it is 2-0 I'll keep you in it thanks for that what is Ronaldo projected to earn this year in US dollars

42:44Ryan King: is this total yeah not just his football career total earnings

42:48Charlie Friend: sponsorships total earnings dividend income the whole shebang

42:52Ryan King: oh it's going to be that man's worth a lot though

42:54Charlie Friend: I mean he's a billionaire there okay three two one two hundred million oh oh what was that 200 yeah 40 40 yeah 300 yes it's a whitewash that thing is complete so i have no context when it comes to these things what the hell he's getting paid about two mil a week in saudis that's 100 mil straight away yeah and i thought the other commercial yeah but 300's mental 300 mental okay um all right so next up we've got agree to disagree so what happens here Charlie you're new to this so we'll explain it to you have you seen Gladiator?

43:31Ryan King: yeah

43:32Charlie Friend: someone dies it's like down so down's for disagree up's for agree and I make a statement and you agree to disagree whoever disagrees we go first if you both agree and we'll see what happens

43:45Ryan King: so we both at the same time thumbs up thumbs down

43:48Charlie Friend: three two one like that

43:50Ryan King: and whoever disagrees goes first Yeah, pretty much.

43:53Charlie Friend: All right. So expecting mates to pay over a thousand pounds for a stag or a hen do abroad is getting out of order in 2026. Three, two, one. Yeah, I agree.

44:09Ryan King: Yeah.

44:10Charlie Friend: It's getting out of control, isn't it?

44:11Ryan King: A thousand pounds? Yeah. Or dollar? What was it? Pounds?

44:14Charlie Friend: Mate, it's getting out of control.

44:15Ryan King: Well, both of them are outrageous.

44:16Charlie Friend: I say this now knowing that my mates will see this, but. I'm one one. and I'm very close with, I'm actually best man at one of them, but it's going to be way over a grand.

44:27Ryan King: I'm getting married in two years and I'm panicking asking people to pay£200 to go to a hen do abroad. So£1 ,000?

44:34Charlie Friend: Yeah, that's a lot.

44:35Ryan King: Insane. Disagree.

44:37Charlie Friend: I actually think, though, to be fair, if there's one really good stag do, because I guess you have like five or six mates, if one of them was like sick abroad and you spent a few quid, it'd be good. But if you've got loads of mates, you've got a wedding every year these days, I feel like you can't be doing that for the stag do. They're paying for the wedding. That's normally another, at least a few hundred quid, like a train, a hotel. And then you've got other, like, funerals, birthdays. It's just too many things. Well, yeah, sorry, but, you know, other events like that.

45:01Ryan King: You've got loads of funerals to go to, you know, this year.

45:04Charlie Friend: But, like, with flights, hotel, booze, and just, like, general food and looking after yourself, you are talking a grand for most abroad. Because you do, like, what, probably, like, two or three nights? Yeah. Yeah. I mean, yeah. One to one in Barcelona, it's four nights. by day three I still get dug out about this by day three I literally was like I'm not coming out I stayed in the hotel room it was a villa I still get dug out in the chat for it every time but like I had that and then a wedding abroad so I've got two stags a wedding abroad and then another wedding all within like a five week period so like you're talking four or five grand probably in the course of that and it's awkward to say no of our good mates it is a tough one

45:48Ryan King: yeah if it was

45:48Charlie Friend: a good mate I'd just wear it you'd have to just go but it is if you've got like loads of them in quick succession and particularly because of the cost of living it's pretty brutal but it's just becoming very popular like what happened to the Friday night pub tied me to a lamppost yeah I do

46:03Ryan King: think I do I do think there's an element of was that your one yeah I dare I ask but I do think there's an element of just you know social media and appearing like you're popular and well off and look at me, you know, sort of thing. I think if you're doing it because that's what you want to do and, you know, like your friends are down for that and they want to go on holiday abroad, brilliant. I've been on plenty of hendus abroad, it costs nowhere near that. So I think it's about, you can do it, but it doesn't need to be the bougiest thing going. I think that's the problem is that, you know, you have to stay in this place and do these things and that's where it's a bit ridiculous.

46:36Charlie Friend: And I'd say if you are the one doing it, I feel like don't put too much pressure on your mates to go because if they can go, it's great, but not everyone can afford like 1 ,500 quid for a weekend away. Yeah. yeah yeah i mean the problem is like if you do it and then you expect everyone to go and then obviously disappointing because people don't really want to go or can't afford it and it's just a massive drama over what would be a good weekend so i think it's fine to do it but just don't automatically expect everyone can go i agree i just yeah i think if one was x y and z location the next person within that friendship group is like next how do i level up how do i make the best and it becomes a game and then it becomes a battle and it can get out of control Number two is everyone should keep at least£250 of cash at home.

47:25Charlie Friend: Three, two, one. I'll disagree. Agree. Okay, Ryan. The reason why I was going to go agree, because my mum has been banging on to me about this cyber attack. Yeah, be ready, be ready. She's like, we need to get some cash. She's like buying candles, like tin food, toilet rolls, because there's going to be a cyber attack. Like, you can't make videos anymore. Your phone won't be able to be charged. Like, you're not going to make any money anymore. What, and you still go, I don't need that fucking money? I'm like, it's got to be fear-mongering. How are you going to make it? Like, you're watching too many Facebook Reels.

47:54Charlie Friend: Yeah, yeah. I mean, I don't have any cash. I never do. Yeah, I just obviously prefer to tap. I mean, if all the systems do go down, then obviously I'm the mug. But I would say, yeah, I don't do cash. So I disagree.

48:09Ryan King: I don't do cash either. I never have cash. and I think that's why I'm like, yeah, maybe it's a good idea to have cash at home. Just because I'm sick of like when you need cash for things, you know, certain businesses prefer cash. You know, we'll just leave it there. But yeah, I think that there's no harm in... Barbers.

48:23Charlie Friend: My barber's still cash only. Yeah, exactly. Exactly that. Probably no Stripe fee, no PayPal fee. Well, that's exactly what I was going to say.

48:29Ryan King: You know, in terms of card fees, they are getting quite extortionate. So I can see why business might be like, you know, cash only. Maybe not£250. That seems a bit excessive. but I don't see there being harm I would actually say

48:42Charlie Friend: it's not excessive enough

48:43Ryan King: oh really

48:44Charlie Friend: because I think there's going to be like a massive cyber attack like my mum's foreshadowing and things are down for like a week I feel like you'd need more than that to like pay for food shopping pay for just general bits and pieces depends on the size of your family is she arguing

48:55Ryan King: that you can't pay over your bank cards

48:57Charlie Friend: I don't know she's thinking all the things are going to go down so you can't even get money out of a bank you can't use contactless it must be some mad Facebook reel she saw I'll tell you a story I was in the supermarket and after this came out and obviously everybody was going on about it and the card systems were down because they got AI hacked. Oh, yeah. They were saying in the shop. And I was like, oh, okay. Well, how can I pay then? Because I've got everything on my phone. Guess what worked?

49:25Ryan King: Gaze out. Gaze out. Oh, really?

49:27Charlie Friend: Yes. I was like, oh, my God. Amazing. So digital gift cards worked because they scanned them off a different scanner. So the supermarket system still worked? Yes. The car machines were down, but the scanners worked. So it did connect to their tools, which I found really interesting. But the only thing was, I'll be totally honest with you, I got fully wrapped up. I got fully done. You're like my mum. But I actually, before, had always had these things anyway. And because we'd moved house, I didn't have them again. And so I saw it as a reminder. And the reason being is I've been in storms back in the day where I used to live in Hertfordshire and when I lived in London.

50:07Charlie Friend: and then we were like blackout for 24 hours. I had no like gas for, so I've got a little gas stove just because I want a cup of tea.

50:17Ryan King: Oh God, yeah. Do you know what I mean?

50:18Charlie Friend: That's all it is for. Like it's not for Armageddon. It's just for like short-term inconvenience. I want the things which I'm accustomed to. I don't want to have to like go without a cup of tea. The AI hacks in the supermarkets is mad though. Didn't they hack into the system, turn all the temperatures up, so all the food went out of day? and I was like millions of pounds of wasted. Sorry, that is not funny. Yeah, but like it's actually wild they can do that. That's not funny. So it is like nervous because I'm worried obviously, well I guess we're all worried if they hack into like Claude somehow.

50:46Charlie Friend: Oh God. That's connected to my laptop, to my phone, like it's just, not as anything to dodge on there but it's like everything will just come out, passwords, bank accounts. Yeah. Gift cards as a present to someone is a cop out. Three, two, one.

51:06Ryan King: don't you go first charlie i actually think it's better i won't want to buy someone a gift that they might hate and they don't want to tell me that they hate it and then they either have to re-gift it sell it or something like that if i get you a gift card at least you can use it it's like it's almost monetary value isn't it so as long as it's a gift card to something that they use i actually don't think it's cop out i mean i am quite bad though i'm probably one end of the spectrum like for example i don't get any of my nieces and nephews presents now i just put money into their accounts are buying premium bonds or are all invested in their ices.

51:36Ryan King: I love that. I do not buy them anything. And so many people are like, oh, cop out, cop out. And I'm like, when they're 18, they'll be coming to Auntie Charlie and saying, thanks, babe. So I don't think it's cop out. I think it's...

51:47Charlie Friend: Got my driving lessons because of you or whatever. Exactly. And that's exactly it.

51:50Ryan King: So I don't think it's cop out. I think that, you know, maybe it's for some people that I don't know what to get you so I should get you a gift card. But it's the fault, isn't it, that counts that you've even gone enough to spend money to buy someone a gift.

51:59Charlie Friend: I ask for them.

52:00Ryan King: Yeah, there you go.

52:01Charlie Friend: Personally, because I'm like, especially when you're like moving into a house or whatever, I'm like, you know, a few nice things from John Lewis. If everybody gets me a John Lewis gift card, I can get one really nice thing for the house. And I'm like, oh yeah, that's my John Lewis lampshade or whatever. Like, I quite like it. We always get things like bedding and stuff like that. You always get all that. I know it's so boring. Oh my God, you're in your face. Then you can say to your mates, can't you, like,

52:23Ryan King: this is a lamp that you contributed to.

52:24Charlie Friend: Yeah, thank you. Yeah, exactly. Yeah, 100%. the reason I ask is did you know that 47 % of Brits are sitting on an unused gift card I was going to say I bet there's billions of unused gift cards yeah to be fair

52:35Ryan King: I'm probably one of them I'm so bad at remembering I have stuff like that

52:39Charlie Friend: yeah because I would have agreed with that because I'd be like just give which is also probably more of a cop out I'd like give me the cash I don't like a£20 JD voucher just give me the cash and I'll just use it wherever I want but now I know my parents will get some of their friends gift cards for like restaurants or like a restaurant group because then they'll go and try our new restaurant and they like doing that so i feel like this it can be good depending on the person i think for me though i still rather just cash i don't know i mean yeah it's funny you say

53:04Ryan King: that for my birthday i got a couple of vouchers i got an ivy voucher and i went for a lovely slap up meal and it was brilliant at the end going yeah i got a gift card and now it takes it down it's basically free yeah i am the scanner's not working it's like 50 second 50 digit number

53:18Charlie Friend: yeah typing it in like yeah i am annoyed now i get really annoyed with myself uh when i'm like don't have a gift card to pay for something if there is one available. So I'm like, mate. Hence Gainsap got created. Yeah, yeah, yeah. Like, it's money, isn't it? It's money. Yeah. It all can be used. You know, start, don't, maybe if you want to start with that, but like, as a present, I think it's great. Like, I think it's awesome. And as you said, there is some thought that's gone into it. If it's like a restaurant or, you know, it's a shop they like. Emergency last minute, forgot shit, let me buy a 20 pound gift card.

53:50Charlie Friend: How many presents have you been bought

53:51Ryan King: and you think, fuck, why?

53:52Charlie Friend: Yeah, that's not just, give me the cash rather than a present and it ends up sitting there and you feel bad

53:56Ryan King: you don't want to like you know give it away and they're like there's a gift yeah and I had to have I know it sounds bad but I've had to make notes about what things people have got me so I don't accidentally you know re-gift it and I have no shame in saying that because it goes to waste otherwise re-gifting

54:12Charlie Friend: yeah oh that is so sad it just comes like a cat it comes in and straight back out you gave me that last year oh my god that's why you have to make a note

54:19Ryan King: that is the key thing that would be me I know it sounds tight but I don't want it sitting there. Like, you know, if someone bought me a bottle of alcohol that I don't drink, then what are my options? You know, throw it in the bin. Let it sit there gathering dust.

54:30Charlie Friend: I think I've got three of them garlic things, you know, like where you, you know, like you can go around on the garlic. Oh, yeah. And then it like grates it for you. I've got like three of them. Why? Because you get them for Christmas and you're like, oh, thanks.

54:41Ryan King: Oh, so I bought you a bottle. Three people in Wild.

54:44Charlie Friend: Yeah. Is it like you're moving to the kitchen and it's probably because they were like on a stand somewhere where you walk into the shop and they're like, oh, that's good for him. there you go and then it gets stitched up

54:52Ryan King: see I argue that they haven't put in as much thought as if they thought about getting you a gift card 100 %

54:56Charlie Friend: 100 % okay last one of these right never lend money to mates 3 2 1 can I

55:08Ryan King: be in the middle yeah

55:09Charlie Friend: I'm gonna I'm gonna say

55:12Ryan King: disagree actually I think it's a tough one

55:14Charlie Friend: because I because if a mate's like really struggling and he needs some money I feel like you should give it to him especially if he's a good mate and you know he's been going through something. But then at the same time, you probably know you're not going to get it back. So you're sort of, and if you're not in the best position, you might be stitching yourself up for that person. So it's quite a tough one.

55:32Ryan King: It's very tough.

55:32Charlie Friend: I feel like I could put, you need a bit more context. I could agree and disagree. If I know someone's going to get the money and use it for like something bad, like an addiction I've got, don't give it to them. But if it's like something, they genuinely need it. They're in a tight spot. They've been working. They've just been divorced. Something's happened and they need a few quid. Then I think it's fine. I guess then it's awkward they're actually trying to get it back which is when i guess you've got to be up front whether you actually want it back or not it'd be great to be in a position where you just give your mate 300 quid and be like mate it's fine don't even worry about giving it back to me just you know sort yourself out but for like most people yeah like myself would want it back in most cases so it's it's like then in quite an awkward position feel like the stag do thing where like you just sort of know right answer it's funny because the general rule is don't lend

56:13Ryan King: money unless yeah unless you're happy to lose it basically so lend it on the basis of that's money gone but i mean my hot take is when i was young i had to borrow two grand from one of my friends and we were very young we were like 19 and it was for me to get never seen her since oh no he's one of my best friends and um he's gonna be one of my one of my bride squad actually

56:32Charlie Friend: but um so yeah so he helped you get on the housing yeah well no he helped me even just get a place to

56:37Ryan King: live because i was dealing with homelessness when i was 19 and i needed deposit and then obviously first month's rent i just didn't have that sort of cash and he was like i'll lend you it and for me that was a really pivotal changing point for me in terms of just getting on my feet, getting myself ready. And I paid him back completely in full within a couple of months. I think it's knowing the person, make a judgment call based on what you know about them. And yeah, what do they need it for? Oh, I'm homeless. I need it for a home. Take it. Of course I'm going to lend you the money. But I think that in general, you know, try and avoid it if you can.

57:09Ryan King: But you're saying, Ryan, you know, if they're in need and they're going through something, absolutely, I would lend them money. but just obviously assume that you're probably not going to get it back you have to make peace

57:19Charlie Friend: with that i think um but yeah very much depends on the friend yeah yeah and their situation and what you're lending it for exactly um oh i need to borrow 200 pounds for the flights so i can come to x y and z if it's a mate i'm very very close with who's you know perhaps earning quite good money um they're a bit short this month because they had a leak in their house yeah no problem take the money track record of never paying someone back or being a bit shady i'm sorry mate you can have to ask somebody else so i really want you to be there but i'm really sorry i don't think i can right now because you or unless you're like minted and then you take the money to be there but there's a charity there's situations right and i just said with these kind of statements it's like you can't never ever it's always nuanced right and but a lot of people get suckered in and then they expect and it hurts friendships so if it's going to hurt your friendship i think

58:16Ryan King: you've got to be really careful yeah if you can avoid it avoid it i think but equally yeah i mean if someone needs it i'd be really hard to say no you just like you were saying you've got to depend on their situation you know if you see them in the casino in the next week like run me

58:30Charlie Friend: my coin back give me that money back yeah yeah but um yeah win win win yeah yeah you better pay

58:35Ryan King: me back i also think you can't have shame in asking for your money back i think people have this like stigma isn't it of like oh i can't ask yes you can it's my money yeah so if i'm lending it to you and you're saying i'm only borrowing it you can't then be you know shocked when i'm like well when are you going to pay me back like you know maybe have a discussion loosely of what that might look like not just oh when i can it's like well what does that actually look like 100 i've

58:56Charlie Friend: lent money multiple occasions certain things sometimes i've been hit sometimes i know i'm i know i'm getting it back literally 9 a.m the next morning yeah i've been in clubs and someone's like can i borrow 100 quick because i'm like chatting to a girl right now and i'm like yes mate take the back in the day like when we used to get paid and you'd be in the club yeah and then they'd wire it to you the next day and you'd be like yes mate well done in the club we all exactly exactly like you've got to help your mate out now and god like there's no way around it but I've always had situations I've lent hundreds of pounds to people and they completely disappeared and guess what?

59:30Charlie Friend: Yeah, really? You don't talk to them. That's rough. It just is what it is. I've loved this. Thank you so much. It's been a real pleasure. Please do plug your channels. We'll start with you, Charlie.

59:38Ryan King: Sorry, say that again. My brain completely just turned off for a second then. So plug your channels and say what?

59:44Charlie Friend: Where can people find you?

59:46Ryan King: Oh, right. My handle is my name. I'm Charlie Friend. So you can find me on Instagram, YouTube and TikTok.

59:51Charlie Friend: Just want to say your content's sick right now. Thank you. I haven't really done much recently

59:56Ryan King: because I've been drowning in work. But yeah, I love it. And that's it.

1:00:01Charlie Friend: So definitely follow. And Ryan? Making money simple. YouTube, Instagram, TikTok, all the platforms as well. Yeah, you're great. And your book is? Stop waiting, start investing. And it's going to be on sale on Black Friday. You can get it for a 10-hour on Black Friday. If it's 12, we'd still get it. It's worth it. Thank you guys. Have a lovely. So see you soon. So I've been working on something super exciting for the last 12 months, and I am very, very proud to finally bring it to you. And it is called GainsApp. My whole thing with this was we've been speaking to many of you guys about the rising costs of living and how hard it is to actually manage your money.

1:00:40Charlie Friend: So I thought, why not actually solve this and build something for you guys that you can use every single day? So GainsApp is literally that. You can connect all of your banks in one single place and see exactly what's going on with your spending. We even pre-categorize all of your spending super visually so you can see what's going on and make plans for your big goals ahead. Plus, we've layered in something called instant cashback and we've calculated that the average UK salary could save£1 ,091 a year just by using GainsApp for your spending. And it's super simple to use, easy to connect. We are FCA agent status as well.

1:01:17Charlie Friend: So your money is super safe and you can get started right now by following the link in the description or visiting gains app dot com. And now back to the episode.