10.27.22 Car Buying Forecast And An Alternative / Back to Basics - HSA vs. FSA

The Clark Howard Podcast

Clark Howard

Investing, Entrepreneurship, Business

4.6 • 4.9K Ratings

🗓️ 27 October 2022

⏱️ 35 minutes

🔗️ Recording | iTunes | RSS

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Summary

The car market is gradually healing but we’re not there yet. Clark gives a timeline on availability, affordability, and a potential alternative to buying now if you need wheels right away. And - Back To Basics - Open Enrollment decisions are upon us. Clark clears confusion surrounding Health Savings Accounts or HSAs which can offer long term financial security - and the difference between an HSA and an FSA. Vehicle Purchase Alternative: Segment 1 Ask Clark: Segment 2 HSA vs. FSA: Segment 3 Ask Clark: Segment 4 Mentioned on the show: SIXT+ Your Car Subscription Barrons.com: Car Inventories Are Growing. Don’t Expect Any Discount—Yet. Should You Buy an Extended Warranty on Your Car? HSA Contribution Limits and Other Requirements for 2022 and 2023 Clark.com: What Is an HSA Account and How Does It Work? What Is a Flexible Spending Account? Wills & Funerals Archives - Clark Howard Pirate Ship Review: Pros & Cons of This Cheap Shipping Service Clark.com resources Episode transcripts Clark.com daily money newsletter Consumer Action Center Free Helpline: 636-492-5275 Learn more about your ad choices: megaphone.fm/adchoices Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	It's my pleasure to welcome you to the Clark Howard Show.
0:08.1	Our mission is to serve you and empower you to make better financial decisions in your
0:13.3	life.
0:14.7	This episode I have new advice on whether it's time to buy a car and also some alternative
0:23.2	ideas if you got to get transportation right now.
0:29.0	And later I'm going to do a back to basics is we're in a time of year people are making
0:35.3	these decisions about something that just confuses people know and HSA's.
0:43.8	What are they?
0:44.8	How do you get one?
0:46.3	And then the other thing that just confounds people HSA, FSA, all these initials, what's
0:55.2	the difference?
0:56.8	Huge.
0:58.1	One is potentially over time much more beneficial than the other.
1:03.9	So car market has been a mess because of the COVID cycle.
1:11.2	And now the market is healing gradually, steadily and more and more automakers.
1:20.8	In fact, there's something that the auto industry operates on.
1:24.9	It's a theoretical days supply of inventory that supposedly the maximum efficient point
1:35.2	of having the right number of vehicles to serve the market.
1:39.4	And max profitability for the manufacturer is to have what's known as a 60 days supply
1:46.2	of vehicles, meaning that if they stop manufacturing today, they'd already have an pipeline.
1:54.1	That would serve the next 60 days of the market.
1:57.8	Well, automakers have been at single digit days supply, which means effectively if you
	...

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