Unique Money Traditions You Won’t Find in the US

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  • เผยแพร่เมื่อ 10 ก.ค. 2024
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    You’ve heard of pin the tail on the donkey, but are you familiar with pin the dollar on the bride? Join Rachel and George on a journey to learn about money traditions around the world--from the West African sou-sou to an unexpected German spending obsession that not even the pandemic could shake!
    In This Episode:
    • Communal savings, questionable British accents, and “the dollar dance”
    • The global money custom that George’s ancestors may have invented
    • The OG GoFundMe and other heartwarming ways different cultures give back
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    This Week’s Happy Hour Special: Sazerac
    Ingredients:
    • 1/2 ounce absinthe
    • 1 sugar cube
    • 1 1/2 ounces rye whiskey
    • 1/2 ounce Peychaud’s bitters
    • 1/2 ounce Angostura bitters
    • 1 1/2 ounces cognac
    • 1 lemon peel
    Pour a small amount of absinthe in a chilled glass, swirl it around to coat the glass, discard the remaining liquid, then set aside the glass. In a cocktail mixer, muddle the sugar cube with Peychaud’s and Angostura bitters. Add rye and cognac to the cocktail mixer with ice and shake until chilled. Strain into the prepared glass, twist the lemon peel over drink’s surface to release the oils, garnish with the lemon peel and enjoy!
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ความคิดเห็น • 360

  • @carmyopteryx5919
    @carmyopteryx5919 3 หลายเดือนก่อน +13

    We got married older and didn't need the typical newlywed items. So we skipped a registry and asked for cash. Part of the fun was everyone contributed to 2 jars, one for the bride, one the groom. We secretly tallied up the totals and whomever got the most money in their jar took the cake to the face. It was hilarious and fun (and I took a slice of cake to the face). The photos from this are easily some of my favorites from the wedding.

  • @SisterSnoe
    @SisterSnoe ปีที่แล้ว +119

    I am a German citizen and this is so true about using cash. Credit cards ain’t popular here nor is getting credit loans from banks. We all about saving and paying cash. This has taught me so much discipline when it comes to my finances, how blessed I am living in Germany and following Dave Ramsey’s plan😍

    • @wilfriedvomacka1783
      @wilfriedvomacka1783 ปีที่แล้ว +11

      It's exactly same here where I live. I don't know anybody who has a credit card here in Czech Republic. When I found Dave Ramsey, I basically started on baby step 4.

    • @mauricioh6716
      @mauricioh6716 11 หลายเดือนก่อน +1

      Blessings, John 3:16. Jesus loves you.

    • @adarackova4633
      @adarackova4633 10 หลายเดือนก่อน +3

      The same in Slovakia, but unfortunately it's becoming more popular to have credit cards because the banks push it to you a lot, as well as car leasings and buy now pay later or in payments is available everywhere and it amazes me how people making minimal wage which is 550€ here think they can easily afford 900€ TV because its just 44€/month for forever 😂

    • @britonabrompton9912
      @britonabrompton9912 4 หลายเดือนก่อน +2

      To be fair, although I haven’t been to Germany for about 8 years, there are a lot of places, where they won’t take credit cards, especially restaurants and small shops. I was told by a colleague that this was mostly because of the fees charged by the card companies to the trader (these being typically higher than for debit cards or handling cash at the bank). In the EU, I believe, it is not permitted to pass this fee onto the consumer. I remember in the early days of credit cards, that many shops and petrol stations charged an extra surcharge for using a credit card.

    • @Imbatmn57
      @Imbatmn57 5 วันที่ผ่านมา

      The us is too blasé about putting houses as collateral for loans. Im also concerned with how many people are only using credit cards because its very common for card machines to be down where i live because the Internet is such crap. I work in pizza delivery and once i had to go home early because the online ordering was down and the call in delivery orders were non-existent.

  • @Nissan-hz8zh
    @Nissan-hz8zh ปีที่แล้ว +41

    I've been living in naples, IT for the last 2 yrs. They have something called cafe sospesa (suspended coffee). Coffee is sacred in naples. A person buys 2 cups of ☕️ at a shop and only drinks one, leaving the other cup for someone who comes in and can't afford it.

    • @Jennifer-bs6oy
      @Jennifer-bs6oy หลายเดือนก่อน

      Tucson AZ USA here
      Watch the movie "Pay it Forward"

  • @conorstanage8434
    @conorstanage8434 ปีที่แล้ว +25

    Never mind money traditions - how come George ALWAYS wears cool boots?
    I can't be the only one who has noticed this!

  • @evangelineKaamba
    @evangelineKaamba 5 หลายเดือนก่อน +9

    The second one on group contribution is called “chama” in East Africa, and it works well, especially if you have a project you are working on. For example, a monthly $1,000 contribution for a group of 12 people gives the person whose number is up $12,000.

  • @Trudloops
    @Trudloops ปีที่แล้ว +70

    8:03 Thanks you for discussing the Sou-Sou. It is practiced to this day in Trinidad and Tobago 🇹🇹. Each person gets the total amount saved, called Hand, at different times. Eg. 4 persons contributing $100 per month, 1 person get $400 every 4 months. So it’s a form of savings and loan in one. You can plan your expenses around the time you get the hand or just spend lavishly when you get it. The first person to get the hand, essentially gets a loan of $300. The last person doesn’t really benefit because it’s the same as saving $100 per month and then spending it. But it is a form of community savings, because each member keeps the others accountable and people learn together to save and finance each other’s plans. Honesty is a must.

    • @arh1234
      @arh1234 ปีที่แล้ว +4

      It sounds veeery similar to a pyramid scheme😬

    • @ladonna7ful1
      @ladonna7ful1 ปีที่แล้ว +17

      @@arh1234 in the sense that you depend on others to pay each time so you are taking a risk ...i guess, but it isn't a pyramid scheme because you get exactly what you put in...like a 0% interest loan or savings (depending on when you receive your hand), if it begins with 8 members, it ends with 8 members, no further recruitment needed...it is NOT an investment but rather a tool used to help low income persons. Like all scenarios that involve money, it should include persons that are trusted

    • @CuanPrince
      @CuanPrince ปีที่แล้ว +6

      South Africa has the same concept, it is called Stokvel.

    • @richeyrich2203
      @richeyrich2203 ปีที่แล้ว +2

      I don’t get the point of it. Why not just say it on your own? Now, if everybody was putting in, and it was invested, then it would make sense. That way everybody gets a portion of the investments and the more people that put money in the better the investment as a whole will do.

    • @CuanPrince
      @CuanPrince ปีที่แล้ว +12

      @@richeyrich2203 not everyone has the discipline to save, this is a form of accountability. And also when you earn small amounts it's difficult to justify investing the amounts AND there's a huge percentage of Africa that don't have bank accounts.

  • @mariacorretge6615
    @mariacorretge6615 ปีที่แล้ว +29

    There's something special about wedding money. I was so touched and surprised by people's generosity to us when we got married, I never forgot all of my gifts and money.

    • @katemiller7874
      @katemiller7874 ปีที่แล้ว

      Hopefully you sent thank you cards

    • @anniemullins8924
      @anniemullins8924 ปีที่แล้ว +3

      In South Africa it is called "stokvel". 12 people give the same amount every month. One month you then get the pot.

  • @amandawright9762
    @amandawright9762 ปีที่แล้ว +50

    As you began talking about the dollar dance, I was like, "we did that at every wedding growing up!" I come from a Polish family and live in Michigan! 😂

    • @zeesworld3371
      @zeesworld3371 ปีที่แล้ว

      I felt at home every indian wedding also has this lol .. but it’s done at different time or different way of showing I guess

    • @GoldenAgeVentures
      @GoldenAgeVentures ปีที่แล้ว +3

      I am right there with you, I also grew up with this in the Hispanic culture, I thought everyone did this lol 😂

    • @katemiller7874
      @katemiller7874 ปีที่แล้ว

      Same I live in Ohio. We always did that Ukrainian/Serbian

    • @lupenunez7051
      @lupenunez7051 8 หลายเดือนก่อน

      Yeah I come from Mexican culture and our weddings do the dollar dance too

  • @opulentelephant9532
    @opulentelephant9532 ปีที่แล้ว +21

    My mom taught us when giving a purse or wallet as a gift to always include money in it! :)

  • @peggymonroe2728
    @peggymonroe2728 ปีที่แล้ว +32

    To be fair, Scholastic Book Fair is sometimes a large part of the school library budget. As a retired school librarian, I remember becoming a bit of a mercenary at the fair to get books for our library. I also worked hard to find sponsors for kids who couldn’t afford them. It was a win win for all.

    • @katemiller7874
      @katemiller7874 ปีที่แล้ว +4

      Yes it’s a great thing for kids.

    • @candiceanderson3933
      @candiceanderson3933 6 หลายเดือนก่อน

      Schools have got to stop grifting pennies and dimes from children to make it work. The government/public needs to step it up and pay for education.

  • @AbidingHopeMentalHealthCoach
    @AbidingHopeMentalHealthCoach ปีที่แล้ว +29

    I heard of a pizza place somewhere that had a similar policy to Turkey’s bread thing. People could pay $1 or 2 to get an extra slice, which would be put as a piece of paper on the wall. A homeless person could come in, take a piece of paper off the wall, and turn it in for a free slice of pizza. Likely this was a place that already sold pizza by the slice.

    • @Imbatmn57
      @Imbatmn57 5 วันที่ผ่านมา

      I want Domino's to do something like this, we have the mix and match, but oftentimes people dont realize they could give one of the pizzas to someone they know that needs food, its only happened once where a customer ordered delivery and gave a neighbor the other pizza.

  • @SpringPit
    @SpringPit ปีที่แล้ว +9

    In Ethiopia: We do the group saving as well. You pretty much get your money back and it is a force saving. I'm in the states and still do it with other Ethiopians.

  • @vonsch9793
    @vonsch9793 ปีที่แล้ว +19

    I have always given cash at weddings. Newlyweds, especially young ones, need cash more than they need stuff, and they are better off prioritizing stuff they do need on their own.

  • @nathanieljaymedonahue1892
    @nathanieljaymedonahue1892 ปีที่แล้ว +12

    No way they went on a whole discussion about Harambe and didn't slip in a meme (or at least a shoutout) to the good Gorilla. : )

  • @niggaflies
    @niggaflies 3 หลายเดือนก่อน +6

    Susu is a voluntary savings plan. Let’s say 6 people need $600 to go on a trip. Each one of those 6 people would contribute $100 a month. On the end of the first month, person A gets $600. This continues until all people have received their $600. It’s a closed pool. So once the agreement is reached, no new members are added. Each participant has to pay $100 each month for 6 months, the person who is paid is rotated. Susu is more common in the village where people know each other and village elders enforce disputes. Also Susu is used by entrepreneurs to avoid high interest rates and borrowing. My mom is from Nigeria so she explained this to me. Mostly women and market trades do susu.

    • @chrismensse
      @chrismensse 2 หลายเดือนก่อน

      exactly, i am ghanaian and we also call it SUSU, I'm currently in two groups right now, four members in each group . my good friend initiated one and i also initiated the other one.

  • @carolrothenberg9343
    @carolrothenberg9343 ปีที่แล้ว +14

    I"m a boomer who is still breathing, so I love this show! 😂

  • @marilyns6043
    @marilyns6043 ปีที่แล้ว +15

    On the MLM question - my sister-in-law had a great rule. She would only go to a sales-type party if she had gone to the person's house for something else. If she was randomly handed an invite for something and she didn't know the person well enough to be invited to their home prior to the sales party - she would decline. Good to have a rule in mind in advance.

  • @elenaritwells
    @elenaritwells ปีที่แล้ว +7

    What I was taught growing up with weddings in the middle eastern community was that you get a gift for the bridal shower and bring cash to the wedding

  • @PeterPaulKongJr
    @PeterPaulKongJr 10 หลายเดือนก่อน +18

    Jamaican do this too. We all put in a certain amount every week and everyone get 1 draw of the same amount you put in. It’s a way to save money if you suck at saving.

    • @tigerrx7
      @tigerrx7 2 หลายเดือนก่อน +3

      Pawdna draw 😅😅

    • @Ladonko2009
      @Ladonko2009 2 หลายเดือนก่อน

      Ya, and everyone knows a group that's done this where somebody f'd off with all the money.

  • @SalviAkshay
    @SalviAkshay 3 หลายเดือนก่อน +3

    That west African money pool - My mother and all the stay at home ladies used to do it from the "fund" they saved using savings from the grocery budget, or anywhere.
    The pool will supply all the money that is pooled in to the person who needs it. Its a loan 0% interest. That is called community living. People help people opposite what US traditionals are.

  • @bluebelle9572
    @bluebelle9572 ปีที่แล้ว +8

    Talking about the Greeks not giving any empty wallet or purse reminded me of auctions in our area. Auctioneers always put a coin or two in banks before they sell them.

    • @KatieM786
      @KatieM786 3 หลายเดือนก่อน

      Same here in England - I was told by my elderly neighbour to never give an empty coin purse, handbag or money box because it's bad luck. Money attracts money, so they say

  • @fiorikiriza
    @fiorikiriza 3 หลายเดือนก่อน +3

    Merry go round / cash rounds are common in Uganda🇺🇬. People and sometimes businesses get together and pool lots of money, contributions can be as low as 1$ and can be as high as 5000$ depending on the group. So if 12 people contribute 5000$ each every month, a member receives 60,000$. These are helpful for people running businesses or saving for something major.

  • @sharondube1101
    @sharondube1101 ปีที่แล้ว +4

    I grew up in a French Canadian community in southern Maine. When I was growing up it was customary for people to have a prenuptial dance at a hall or club. The intent was for people to buy tickets to get in and then people would pay to dance with the intended bride and groom to help them raise money for their wedding, honeymoon or house hold items. People stopped doing them in the 90's.

  • @ms.herlan7860
    @ms.herlan7860 ปีที่แล้ว +6

    I am the Scholastic Book Fair Chairperson at my school and I approve this message.

  • @LoveOnTheEdge1705
    @LoveOnTheEdge1705 ปีที่แล้ว +5

    Rachel with the "Spot o' tea" beforehand was hilarious!!!!! 😂😂😂

  • @nadezhdatirmenova7223
    @nadezhdatirmenova7223 ปีที่แล้ว +4

    Giving cash as a gift for birthdays, anniversaries and weddings is very common custom in Russia and Armenia and all post-Soviet countries. Very useful because on the first night newlyweds really enjoy counting all the cash money they got as gifts for their wedding, very satisfying

  • @MyBestVersionOfMe
    @MyBestVersionOfMe 2 หลายเดือนก่อน +1

    I love your show. I've subbed to all your different channels. I've subbed to Dave Ramsey channels, George Kamels channels, and Rachel Cruzes channels. I LOVE all the content that ALL the different channels offer. Thank you all for being so AWESOME, and HELPFUL!!!

  • @fiorikiriza
    @fiorikiriza 3 หลายเดือนก่อน +2

    Most if not all communities in Uganda have what we call "Bataka" Groups which are established to help a community member when they lose a person. Each group is comprised of families from the same village and they agree to bring certain things like food, chairs, money and others to use when a family has lost a member and these are to use during the funeral. It is like a harambe for Kenyans.

  • @sandiweidler8862
    @sandiweidler8862 ปีที่แล้ว +17

    That could be the premise of another show, where somebody travels to different countries, and find out exactly how that country saves, spends, and what their retirement is like

  • @Pandorash8
    @Pandorash8 ปีที่แล้ว +16

    I’ve gone the opposite direction to Rachel. I also was never allowed to buy books at the book fare or bookclub because we didn’t have a lot of money growing up. So now I find myself buying my kids something at every bookclub release and book fare. I have brought the struggle to other areas though, so I get it. But I love how we’re both reactionary to the book fare thing, but went different directions with it lol.
    Also, the sixpence thing was huge here in Australia too. Until we moved to the decimal system and the new coins weren’t made of food-safe metals. But typically families would have coins that they set aside purely for the purpose of the Christmas pudding thing, and they’d boil them to sterilise them before baking with them. So it was all clean fun, George lol. The choking hazard was a thing though… 😅

    • @bryanulloamaldonado5894
      @bryanulloamaldonado5894 ปีที่แล้ว +1

      It is really interesting that Rachel talked about the book fair because my daughter had hers today and we always used to send her money and this year my wife didn’t want to and wasn’t on board with the decision but then she asked my daughter to bring me one thing that she bought at the book fair and she didn’t have any lol. 😅

    • @arh1234
      @arh1234 ปีที่แล้ว +1

      We always used to make lists from the book fair to take to the library!

  • @jangle318
    @jangle318 ปีที่แล้ว +6

    We had a money dance at our wedding. My maid of honor held a top hat that our venue provided and stood in between us while we had two lines (girls for him and guys for me) of friends and family to dance with us. Some of our favorite pictures are with our family members dancing with us.
    Not sure if it’s just a southern LA thing, but pretty much every wedding I’ve been to has had a money dance. The money is typically used for the honeymoon.

  • @username9999
    @username9999 ปีที่แล้ว +12

    For weddings I prefer to give cash over registry items. That way the couple can choose how to prioritize their purchases. Yes, they said they wanted that "thing" but if they have no plates, or skillets- they may want those more.

    • @TulipsNTattoos
      @TulipsNTattoos ปีที่แล้ว +1

      Same. I understand the Registry but cash is just easier.

  • @Ssssssmmmmmmmmm
    @Ssssssmmmmmmmmm 2 หลายเดือนก่อน +1

    The ‘Susu’ is also in East Africa. Here we call it Chama.
    Everyone contributes monthly and everyone receives the same amount. Basically you receive all the money you contributes in a whole rotation.

    • @DinoCommando123
      @DinoCommando123 2 หลายเดือนก่อน

      I was born in Trinidad and Tobago 🇹🇹 and my grandmother used to ran a Susu.

  • @christineshah7330
    @christineshah7330 7 หลายเดือนก่อน +2

    She is right about the book fair. They are overpriced and manipulatively marketed. My kids had tons of books and I wasn't paying for the Scholastic machine. If they wanted to buy something with their own money they could...and it caused them to REALLY think about the value. Between the three of them they only bought 3 or 4 things ever and they did like them...and were then shocked when they found them other places for cheaper.

  • @truleegarewal5949
    @truleegarewal5949 หลายเดือนก่อน

    I did a money dance at my wedding and most of my family did too at theirs. It's the best!

  • @lv4366
    @lv4366 21 วันที่ผ่านมา

    George, my daughter's father's side of the family is Middle Eastern, and between the family, food and smart approaches to money, I love the culture! Thank you for sharing your history.

  • @JulsMWK1995
    @JulsMWK1995 ปีที่แล้ว +2

    I agree George. I’m not eating that pudding that had a dirty coin in it.

  • @Arazhul12
    @Arazhul12 6 หลายเดือนก่อน +1

    In Croatia you are supposed to put your gift money in a blue envelope at weddings. Then later at night the best man opens them and reads out: 50 dollars from your uncle, oh that's cheap. The guests boo and the uncle is supposed to give more. And this with all the envelopes.... means it takes a while.... And all depends on how good of a speech and show person your best man is, if he can make the crowd give more 😂 Also it's public so people tend to give more since nobody wants to appear not generous.

  • @truthwisdomlove7786
    @truthwisdomlove7786 ปีที่แล้ว +5

    Love it guys. It would be a good idea to add snacks as well for happy hour (cheese board, etc.). In Wisconsin it's not a happy hour without food

  • @lucy2steele
    @lucy2steele ปีที่แล้ว +2

    I live in the Midwest and our thing for the dollar dance is you hand the attendant an amount (no pinning) and they can use it for the honeymoon or pay off.
    It’s great to say goodbye/congrats to the bride and groom!

  • @rachelgarland1881
    @rachelgarland1881 ปีที่แล้ว +16

    I’m in Iowa. Is the dollar dance NOT a thing everywhere?! Also, this is in ADDITION to the gifts. 🤪 And tater tot casserole is a staple dish here.

    • @donnahampton3632
      @donnahampton3632 ปีที่แล้ว

      It is not! But it is a great idea!

    • @melanieb2132
      @melanieb2132 ปีที่แล้ว +3

      Iowan here too! I've participated in many a dollar dance... it's not the main gift, just spending cash for honeymoon.
      I thought it was a common thing too!

    • @pamelaburleson2063
      @pamelaburleson2063 ปีที่แล้ว

      The Dollar Dance is a Texas thing too!🤠

    • @katemiller7874
      @katemiller7874 ปีที่แล้ว

      Ohio does it too

  • @alqoshgirl
    @alqoshgirl ปีที่แล้ว +5

    Middle eastern Catholic. The wedding is payed by the man’s side of the family. And the people that attend the wedding usually give a moneygift, that at the very least pays for their seat. It’s not uncommon for people to make a profit off of their event. We did on our wedding. Now you do keep a list of who gave you what and then when it’s time for their wedding/event you can gift them back the money plus usually a little extra. Like they gave you $100, give them $110

  • @bluebelle9572
    @bluebelle9572 ปีที่แล้ว +3

    The bread on the hook, I feel, would be more similar to community pantries than drive thru pay it forward. Fun show, lots of interesting things, some I’ve heard, some are new to me. Good job people, good job.

  • @leonisaacs3512
    @leonisaacs3512 ปีที่แล้ว

    Great episode!!!!

  • @elsalimon7629
    @elsalimon7629 ปีที่แล้ว

    Love this! Fun times learning about finances!

  • @joannahartlen38
    @joannahartlen38 11 หลายเดือนก่อน +2

    Still laughing at the Christmas Sixpence accent attempts. Rubbish! LOL. I don't think coins in pud is such a done thing these days (probably just as well) but Christmas pudding (plum pudding) is a festive must! I really enjoy your Happy Hour shows guys, Love and best wishes from Britain Y'all. Xxx

  • @victoriachristie7026
    @victoriachristie7026 ปีที่แล้ว +1

    The bread on the hook thing is really neat. I remember seeing something on Pinterest (yes, don't tease me) about a pizza restaurant with a wall of sticky notes-- you pay for an extra slice or side and those who need it take that sticky note off the wall and bring it to the register instead of cash. I've seen it at local coffee shops in large cities.

  • @alexreed9148
    @alexreed9148 ปีที่แล้ว +3

    I really liked this episode, learned a lot of different things I had no idea about. Keep covering these type of topics!

  • @isabellaross1472
    @isabellaross1472 ปีที่แล้ว +1

    Live in the Midwest and can say the dollar dance is going strong here lol but usually the bridal party collects money rather than clipping to the dress/ suit of the bride/ groom

  • @kathylloyd3822
    @kathylloyd3822 ปีที่แล้ว +1

    You guys are hilarious and informative. Thank you!

  • @AbidingHopeMentalHealthCoach
    @AbidingHopeMentalHealthCoach ปีที่แล้ว +3

    When I was married, we were about to move to another state in a small car. We asked for no gifts. We got 3 or 4, and cash. The lamp we used for over a decade until it finally broke. The glasses all broke within a couple years. The deep fryer we returned to Walmart and bought a toaster or something we would actually use (we don’t deep fry anything). Anyhow, the cash was way more useful than most gifts would have been. It was easy to transport (deposit in a bank account we could access at our destination), and gifts just took up space.

  • @deannnicole2877
    @deannnicole2877 2 หลายเดือนก่อน

    I live in Iowa and some of my cousins did a dollar dance. It was in addition to gifts and a lot of times the kids get money from their parents and go dance with the bride or groom, but anyone can. They just handed the money to them. At my wedding one of my dad’s friends introduced himself and shook my hand and there was money in his hand, it was a nice surprise. I thought a dollar dance would be kind of awkward personally so we didn’t do one.

  • @ericaterrones16
    @ericaterrones16 4 หลายเดือนก่อน

    Loved laughing and learning with y’all!

  • @LoveOnTheEdge1705
    @LoveOnTheEdge1705 ปีที่แล้ว

    In The Bahamas, we join Asue (group savings) quite a bit. Like the Latin American savings plan Rachel mentioned. Although, the contribution doesn't have to be the same amount for everyone. Generally , a very large amount of consumer lending in our country is done by government employees.

  • @laurao8099
    @laurao8099 3 หลายเดือนก่อน +1

    The six or seven year old listening pulled on my heart strings a little bit because I started listening to Dave Ramsey in 1992 when my dad will listen to Rush Limbaugh❤ honestly brings back some really good memories

  • @username9999
    @username9999 ปีที่แล้ว +1

    My dad used to be a wedding photographer on the west coast. I saw videos of people doing the "money dance" in the 90s.

  • @odaneallen8889
    @odaneallen8889 3 หลายเดือนก่อน +2

    We call it susu 'partner' in Jamaica. So say there are 10 persons in it. Each person would put $1,000/ month and each month 1 person would get the sum off all the Money ($10,000). It would go on for 10 months which is when the last person would get there draw or hand.

  • @kathronarussell804
    @kathronarussell804 ปีที่แล้ว +1

    The group savings in my country (The Bahamas) is called an Asue.

  • @diandraalders3561
    @diandraalders3561 ปีที่แล้ว +8

    This is definitely my favorite Ramsey podcast and one of my faves overall

  • @saracobaify
    @saracobaify ปีที่แล้ว

    I just realized that someone tried to do that to me when I was at Target and dressed up a little! 😮 30:48 I’m glad that I was happy with my job at the time 😂

  • @PeggyMonroe-md6fm
    @PeggyMonroe-md6fm ปีที่แล้ว +3

    The book fair thing is upsetting to me. As a former elementary school librarian with limited budget to furnish the library, I depended on the book fair money to furnish the library. Yes, the books are overpriced, but, to me, it is a philanthropic thing. There are lots of other things you could do to make your kids feel the struggle. Money for random expensive snacks….beach airbrushed shirts…..video games,etc. just my opinion

  • @brooke8888
    @brooke8888 หลายเดือนก่อน

    Women do that in Türkiye as well. It’s called “altın günü” gold day. Everyone brings a gold coin to the tea party and every month someone else hosts it. So you put 1 and have 4 gold coins invested in you till next month.

  • @mamainchaos
    @mamainchaos 9 หลายเดือนก่อน +1

    In the Midwest we do the money and something like a towels, or sheets not a huge present, and we do no more then 20$ for the dollar dance

  • @kollynmalecha203
    @kollynmalecha203 ปีที่แล้ว +3

    We have done the dollar dance here in Minnesota for years❤ Also we raffle off the garter. The guests put money in for a ticket

    • @katemiller7874
      @katemiller7874 ปีที่แล้ว

      We throw the garter. Who gets the money from the raffle

  • @gabrielameyerherrmann4642
    @gabrielameyerherrmann4642 ปีที่แล้ว +3

    In Argentina 🇦🇷 we eat gnocchi each 29. and put a dollar bill under each plate to always have money 😊

  • @PreppyAnglican
    @PreppyAnglican ปีที่แล้ว +5

    23:40 I think part of the reason why businesses are moving away from cash in the US is because (relative to other cash-dominated countries like Germany and Japan) it’s particularly inefficient.
    The US has lots of small denomination coins and prices aren’t listed including tax, so you have to play reverse-lottery mental math to try to figure out how much something really costs. Countries that list prices inclusive of tax and have fewer, decimalized coin denominations have higher cash utilization because it’s efficient.

  • @elmercisneros2671
    @elmercisneros2671 ปีที่แล้ว +5

    In Mexico they use a quiniela, pronounced key-knee-ella. Basically I organize 10 people to pitch in $100 a week for 10 weeks. We all select a week, 1-10, to receive the total sum. I, as the organizer, set up a day of the week to collect the $100 from every person and deliver it to the next person on the list. Due to my parents being Mexican i've heard of this action but have never partaken.
    The money dance is also performed in Mexico but almost exclusively in lower and middle class marriages.

  • @Imbatmn57
    @Imbatmn57 5 วันที่ผ่านมา

    25:58 one time my school did a book swap, i think id rather do that so kids aren't expected to spend money, maybe the school can buy some books that they're ok with giving away. I loved going to reading night and getting a free book,they would be books i wouldn't have gotten for myself but were great books.

  • @elivasquez5976
    @elivasquez5976 ปีที่แล้ว +2

    Mexico has something similar to the Savings Club. Tandas, to explain in simple terms, There's 12 people giving $100 a month. Let's say my month is December so during that month I will receive 1,200. Every month before that I had paid $100 but come christmas time I will end up having that money. It's like force savings in a way.

  • @kristyleavitt8007
    @kristyleavitt8007 ปีที่แล้ว +1

    “Target demo? Alive” 😂

  • @hopedodson8058
    @hopedodson8058 8 หลายเดือนก่อน

    Huge fan of money for wedding gifts as well. 🎁

  • @happychappylife4283
    @happychappylife4283 ปีที่แล้ว +1

    Old West Indian savings vehicle is called partner. So great and helped many uk immigrants save in there communities to buy a home. Interest free borrowing over a short period.

  • @meleenabradley3017
    @meleenabradley3017 2 หลายเดือนก่อน

    OMGSH George, that happened to me in college, and I ended up meeting with the lady. After her pitch, I thanked her and told her I'm not interested!

  • @hannahherringpa-c7749
    @hannahherringpa-c7749 9 หลายเดือนก่อน +1

    Love the hair extensions here!!!! Great look!

  • @luella2897
    @luella2897 ปีที่แล้ว +5

    Money sounds good for wedding gifts BUT: my son-in -law thought it was good to use wedding $$ to buy a new gaming computer not household items and my daughter loved him ,so much, that she thought it was OK Or ,at least, she said that!! Of course, 11 years later , he still doesn't have a job, he says " he is unwell", but he can play tennis and go to the gym! I know, I sound like a classic MIL, but REALLY !! Yes, I keep my views to myself.

    • @jandkhilbert
      @jandkhilbert 5 หลายเดือนก่อน

      Sorry to hear this for them

  • @groundsurvivalstudygracieg4034
    @groundsurvivalstudygracieg4034 2 หลายเดือนก่อน

    Ohhh my goodness I wasn't expecting Sazerac. I work for their barrel factory in Kentucky lol

  • @gayle2276
    @gayle2276 3 หลายเดือนก่อน

    From Illinois and we've always done the dollar dance. Great money for the honeymoon or whatever. Bride and groom each have a line and people give them a dollar for each turn. You can give more if you want but $1 was the norm

  • @blacksquirrelhomestead
    @blacksquirrelhomestead ปีที่แล้ว

    I grew up in Wisconsin and I'm totally familiar with the dollar dance! I never knew this was a Midwest thing! 😅

  • @Matt_in_TEXAS
    @Matt_in_TEXAS ปีที่แล้ว

    Great job again y'all!!! Keep up the great work, love the show - super love that y'all video the podcast!

  • @kathymaloney5769
    @kathymaloney5769 ปีที่แล้ว +1

    Love watching the podcast and your show. I grew up in MN and I had the dollar dance at my wedding. We did not pin dollars to ourselves that's just gross. What happens is usually a bridesmaid or maid of honor and best man stand by the bride and groom and people line up and they take the money and that person goes and dances with the bride/groom and then the best man/bridesmaid decide when it's been long enough and let the next person go and it lasts a few songs usually, depending on the length of the line. My daughter is getting married this year and we will be doing it again!! Great tradition.

  • @kumuhanakahi
    @kumuhanakahi ปีที่แล้ว +2

    I look forward to Thursdays just to listen to this podcast👍 great chemistry and fun conversations 🤙 Aloha from Hawai'i.

  • @bettyhyppolite1061
    @bettyhyppolite1061 3 หลายเดือนก่อน +1

    People use susu to pay their car off, school tuition, down payment on a house, or do work on their home ect. It’s better than using credit cards, specifically with those high interest rates. Most I know are $500 biweekly, and you can double or triple it, so you’ll get 2-3 hands if you do, each at different times. If you don’t have any immediate needs, invest your money instead. Some susu last 6 months to a year, it depends on how many people in it. The one in charge of it gets a small fee. There are some negativities as well. People can collect their money from the beginning, then giving you hard time to pay back. Sometimes I wonder if the one collecting dies, what happens? Because you don’t know everyone who’s in it. That’s why you don’t get involved in any kind of susu that people are offering you. Co-workers do susu a lot.

  • @marindawhitcomb948
    @marindawhitcomb948 ปีที่แล้ว +2

    The eWallet for the Book Fair is something that is set up by the parent and is pre-loaded so the kid can't spend more than they are given. HOWEVER, I (as a librarian) haven't set this up for my students. We also do not shop during school hours; they shop with their grown-up during conferences after school. I accept cash at my book fair!

  • @samthiel4315
    @samthiel4315 ปีที่แล้ว

    Nice boots George, rugged and classy

  • @justafryguy
    @justafryguy ปีที่แล้ว +1

    We only got cash for our wedding. Registry stuff, most people end up not using what you bought. They just added it to the registry cause it was fun.

  • @thereelaccountant9246
    @thereelaccountant9246 ปีที่แล้ว +1

    Omg!!! I just lost it. I fell for it too George! Except my guy took me to Parnera Bread instead of Starbucks to discuss AMWAY. I was like brooooo you brought me here for this! I'm ever dumber, this guy got me by complimenting my truck at a gas station

    • @noelledelara232
      @noelledelara232 2 หลายเดือนก่อน

      Amway is an incredible opportunity especially if you find the right coach to teach you how to get your time and money back. If you do the research you will find it’s a successful multibillion dollar company but most people just find “someone who did something like that.”

  • @kimanikim8441
    @kimanikim8441 2 หลายเดือนก่อน

    That informal rotating club in east Africa we call chama or Merry go round where each member contribute equal amount of money monthly and give to one member, next month you contribute same amount and give to the next member. It's mostly used for social get together and keeping friends or family members together.
    Harambee we have it In Kenya, u bring the community to raise funds big projects like building schools, paying medical bills

  • @olivierstephane9232
    @olivierstephane9232 2 หลายเดือนก่อน

    The susu is indeed something quite common in west and central Africa (also called Tontine in french) but I know that some other regions practice that as well. As you pointed out it require tremendous trust because if you have win the hand, you must continu to participate until everybody earned it as well.
    Most of the time, the participants are people they know intimately (close friends, family members) or people they can vouch for but it works also because the social pressure / tradition is no joke in Africa. So running away with people's money after you have won the hand in the susu could happen but it's not common.

  • @roweenajaneecallow2916
    @roweenajaneecallow2916 ปีที่แล้ว +2

    The fact that you talked to a perfect stranger like that at the mall to me is crazy to me. I am from the Seattle area and I would never feel safe talking to a stranger in that way unless they were asking a basic question like directions.

    • @noelledelara232
      @noelledelara232 2 หลายเดือนก่อน

      It’s how you make friends in the real world vs online.

  • @kelsiereid5513
    @kelsiereid5513 ปีที่แล้ว +2

    Had no idea the dollar dance was a Midwest thing only 😅. Every wedding has the dollar dance and then you sell the garter too and that's the point is to help the new couple get on their feet

  • @barosalearninglab
    @barosalearninglab ปีที่แล้ว +1

    Rotating savings club you mentioned works like this: you get together with your friends, you each put equal amounts of money, you play a lottery of the order of the receipt of money, you get your lumpsum when it is your turn to do so (per lottery rotation). The benefit of it is your receipt of a lumpsum. Imagine needing a down-payment for the house? That is how it works.

  • @Meli_Mels
    @Meli_Mels ปีที่แล้ว +1

    Try a Paloma! It's considered the national drink of Mexico. Tequila + grapefruit. It's my fave Friday night cocktail.

  • @NANA-bt6ws
    @NANA-bt6ws ปีที่แล้ว +5

    I was always taught growing up that cash as a gift was 'tacky'.
    Logically, I always reasoned that a gift vs. cash was more to hide the value of a gift.
    I know when growing up and money was tight; it felt less shameful to purchase / make a gift where the value was less ascertainable.
    But, I see the advantages to both sides.
    All-in-all gifts always reminds me of the Big Bang Theory episode where Sheldon has to purchase an equivalently priced gift lol.
    I can definitely relate to Sheldon.

    • @katemiller7874
      @katemiller7874 ปีที่แล้ว +1

      That’s why they told you cash was tacky because they didn’t have it to give.

    • @jandkhilbert
      @jandkhilbert 5 หลายเดือนก่อน

      Agree

  • @robertperry814
    @robertperry814 ปีที่แล้ว +4

    MLM=most lose money.

  • @stephaniedecker7728
    @stephaniedecker7728 5 หลายเดือนก่อน

    I’m from northeast Pa and we do the dollar dance ! Everyone pays the MOH to dance with the bride! You can make like $1000!!

  • @DNaupari
    @DNaupari ปีที่แล้ว +1

    I think Lyndsey is having a stroke 19:18 🤣🤣🤣

  • @sorvoja
    @sorvoja ปีที่แล้ว +1

    You're in for a treat with this episode of "Smart Money Happy Hour"! Rachel Cruze and her co-host George Kamel take us on a journey around the world to learn about money traditions, and George's perspective as a second-generation Syrian adds a unique flavor to the show that you won't want to miss.
    Not only is George knowledgeable about personal finance, but his ancestral memory gives him a grounded perspective that's truly admirable. His passion for sharing the financial practices that have been passed down from his family's history is infectious, and you can tell he truly cares about helping others improve their finances.
    Aside from the invaluable insights that George brings to the table, Rachel and him make a great duo. They are witty, engaging, and really bring the topic of money to life. Plus, the "happy hour special" cocktail recipe is an added bonus to help you unwind after a long day of learning about money!
    Overall, "Smart Money Happy Hour" is a great resource for anyone who wants to broaden their financial knowledge. George's cultural perspective adds a lot of value to the show, and Rachel's expertise ties it all together beautifully. So grab a Sazerac, sit back, and enjoy the ride!

    • @richeyrich2203
      @richeyrich2203 ปีที่แล้ว +1

      You love George huh

    • @sorvoja
      @sorvoja ปีที่แล้ว +1

      @@richeyrich2203 Haha, can you blame me for loving George? He's an amazing person! I mean, have you seen the way he conducts himself on the Ramsey show? He's always so calm, collected, and insightful. He has an incredible way of breaking down complex financial concepts and making them easy to understand for the average person. Honestly, I'm not sure what they pay him over at Ramsey, but whatever it is, he's worth that and much more. I'm just grateful for all the valuable information and guidance he provides on the show. He truly is a gem and a valuable asset to the team.

    • @MartianAmbassador69
      @MartianAmbassador69 ปีที่แล้ว

      Are you his wife or his burner account?

  • @jasondima1411
    @jasondima1411 ปีที่แล้ว +2

    This is my favorite episode so far! I love hearing about different cultures around the world and how they handle money. It makes me proud to be a Nigerian American. I enjoy the way we do our weddings

  • @aleshiawheeler9590
    @aleshiawheeler9590 ปีที่แล้ว +1

    My kiddo wanted a $11 book @ the book fair he picked up 11 piles of dog poop for it ! We also do the book fairs. $20 per kid

  • @elainebradley8213
    @elainebradley8213 3 หลายเดือนก่อน

    Here in Canada I was raised that a wallet as a gift had to have a coin in it.