The MONEY Expert: The Simple Plan That Made Me A MILLIONAIRE (ANYONE Can Do THIS!) | George Kamel
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- เผยแพร่เมื่อ 24 มิ.ย. 2024
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George Kamel is a renowned Ramsey Personality and personal finance expert. His journey from a negative net worth to millionaire status in under a decade is not just inspiring, it's a blueprint for financial success. He shares how he got there and much more in this episode!
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00:00:00 - Intro
00:03:52 - The Long Game and Delayed Gratification
00:07:40 - Choosing Hope over Cynicism
00:11:24 - Changing the Trajectory of Your Life
00:15:11 - The Importance of Budgeting and Conscious Spending
00:18:45 - The Dangers of Credit Card Rewards
00:22:24 - The Fear of the Unknown in Personal Finances
00:26:03 - The Shame of Wealth and the Power of Spouses
00:29:39 - Building Wealth and Marriage Conflict
00:33:24 - The Impact of Financial Infidelity on Relationships
00:36:52 - Overcoming Debt in Relationships
00:40:21 - Healing Marriages through Financial Alignment
00:44:07 - The Scam of Student Loans
00:48:12 - The Trap of Student Loans and False Promises
00:51:57 - Learning Outside the Classroom and Financial Freedom
00:55:29 - The Truth About Student Loans and Wealth
00:59:23 - The Hazards of Depreciating Assets
01:03:03 - Renting vs. Homeownership
01:06:29 - The Cost of Home Ownership
01:10:04 - The Pressure of Debt and Financial Fear
01:14:03 - Grappling with What is Enough
01:17:50 - Raising a Generous Person
01:21:52 - Raising a Confident and Kind Daughter
01:25:52 - Confusion and Uncertainty
#greatness #inspiration #motivation
Thanks to George for sharing his expertise! Leave a “YES” if you enjoyed this and share the biggest moment for you. And make sure to subscribe to never miss out on inspiring content like this again TH-cam.com/lewishowes
Yes, from Querétaro, México!
Thank you for another great interview Lewis! George, I see why you are part of the Ramsey group. Thank you sharing your knowledge with us
This was an eye opener! Thank you!
Great interview like always Lewis 👍🏼
Yes 👍
Honor of a lifetime to be on the show. Thank you for an incredible conversation, Lewis. Hope this interview and book help people live with more financial peace!
This is going to be incredible!! I can't wait!!! Thank you!!!!
PS sorry I called you "Georgie Porgie". It was a term of endearment when I was young for one of the best people I've ever met in my life who's name also happened to be George...
I realize that insider knowledge was probably lost en mi communicado and might have come across brash, obnoxious, or worse - insulting.
Meant the opposite - love your shows so much you feel like an old friend bringing good tidings.
Cheers to seeing your work hit some fresh cool markets! 😎 🍻
Congrats @GeorgeKamel !!! ❤ a FPU grad 🎉
I adore you, George Kamel. I enjoyed this interview very much. Thank you.
So happy for your book! You rock!!!
Last year in January I got an DUI and got a driving ban for 12 months. After 30 days I suddenly had an extra 800€ on my account because I didn’t have any gas bill etc. I have been using my electric bike now for 12-13 months and out of nowhere I have about an extra +-9k in savings. It still blows my mind that how expensive a car is and how much I have been spending on it for the past 15 years.
Love this story, can't wait until I see 9k one day in my "YNAB".
I've been there ,I had a DWI and didn't drive for 8 years. I was able to save up enough money to buy a car in cash when I got my license back. I could really see the savings not driving. I used an electric bike to get around most of the time.
It was great living in the city the electric bike was because the city had a network of bike trails and bike lanes that Google maps could navigate you anywhere pretty safely. I used the electric bike to make money by delivering Uber eats with it too. I did well doing that you figure no gas expense!! This was in Seattle a very bike friendly city. And I found the weather was not a problem There too, I could bike most of the winter you just get a little wet LMFAO 😂
And not having to pay for gasoline. Electricity is much cheaper.
Love your story. Keep killing it!!!
Lol did you already do court and all that? Cuz it doesn’t sound like it!
I say this bc you’re the first person (literally the first) I’ve ever heard say, I got a dui and saved money! 😂🤣
Successful investing is hard work because it means disciplining your mind to do the opposite of human nature. Buying during a panic, selling during euphoria, and holding on when you are bored and just craving a little action. Investing is 5% intellect and 95% temperament.
Government policy has thrown the future under the bus for decades. The day of judgment is near. I predict an 80% drop in the stock market. Investors will abandon stocks in favor of real estate. There will be no money in banks... You must devise a strategy for survival.
It's often true that people underestimate the importance of financial advisors until they feel the negative effects of emotional decision-making. I remember a few summers ago, after a tough divorce, when I needed a boost for my struggling business. I researched and found a licensed advisor who diligently helped grow my reserves despite inflation. Consequently, my reserves increased from $275k to around $750k.
How can I participate in this? I sincerely aspire to establish a secure financial future and am eager to participate. Who is the driving force behind your success?.
Thanks for sharing this. I did my own little research, and your advisor looks advanced and experienced. I wrote her and dialed her twice but she didn't pick up so I scheduled a phone call.
Lots of spamming...
I just paid off 3/8 credit cards and i won't stop until everything is paid off. Let's be debt free everyone!! Let's GO!!!
Dude wtf did you bought on 8 cards?
Its easy to get that many cards. They keep giving 0% on balance transfers. And so you do that and end up keeping the other. They add up quick
I am an asian immigrant and has always been insecure with my net worth. Since I listened to George and the rest of the Ramsey team, I couldn’t believe my net worth now for just 3.5 years is satisfactory compared to the rest of the Americans. Keep up the good work and keep inspiring others!! In the Philippines we call it “Mabuhay ka!”
🙌
glad to see another pinoy immigrant here. :)
Yes! Mabuhay!
Pinoy as well, In Pinas you save and buy cash so you don’t pay cash most of the time so we really tried our best to do it here for 2 decades, we have 2 new cars but paid cash, mortgage only credit because we have 2.25 interest rate.
What is Ramsey????
I think this is the most valuable episode of a podcast I’ve ever seen.
For me also
I was married to a spendaholic for 30 years. It took me a decade to get out of debt (he declared personal bankruptcy) and now I am finally making headway. I've turned it around but feel overwhelmed by not having a pension or enough savings to retire on. I'm 66. This is scary. I'll continue to work of course, but don't know how long I can. Thanks for this content.
I’m 71. Was retired. Then eased back into part-time work. It’s about 20 Hours a week. I like it. I especially enjoy people I know through work. I have flexibility and ample time to do things with friends, etc. Fifty percent 10:53 v of my work earnings go into my 401k. Take off when I want. I don’t compete with anybody but myself and keep getting better. People who don’t know me well feel sorry for me! So clueless.
Why dont you create a TH-cam content on how you overcome debt and grow wealth?
Same
Was he spending your money ?
@@beth3535you're doing great!
I’ve always said: “Who you marry will MAKE you, or BREAK you.”
Not all people get married though.
@@JakeRichardsongthat’s still an equally important decision.
@@JakeRichardsong I guess defacto is just as serious these days in terms of the legal implications on partners. You can still be required to go through settlement when you split.
Facts
Ridiculous.
Great quote I heard on Modern Wisdom podcast. The Sesaw effect. “
When you’re on your way up, everyone roots for you because you remind them of their dreams. When you’re at the top, everyone tears you down because you remind them of what they gave up on”
This man has a lot of interesting phrases. "Average George", "Land of the free, home of the broke'. Priceless
Agreed, also "mental calories"
I like the "when you run other peoples races, there is no finish line"
Ramsay jargon. They all talk like that.
@@schalon9742lol facts 😅
The Free Americans.... were conquered by the Europeans 400 years ago
When I got married I had $120k saved for my house and my wife had $100k in student loans. Luckily I used it to buy a house when it was still affordable. It took us 4 years after buying the house to pay off the loan, now we are trying to pay off the mortgage in the next 7 years.
That's amazing. Love that you were willing to help her pay that student loan down. So many men wouldn't marry her bc she had that debt.
You would have gotten there faster if you did it the other way around.
@@ClaxtonBay123that would depend on the interest rate on the loans.
Wow @@ClaxtonBay123
@ClaxtonBayHow House would have been more expensive 4 years later ? How would it have saved money paying the S loans off first then buying the house 🤔
I learned to spend less than I earned early on.
I’ve lived my life largely free of debt… and never had a negative net worth. The frugality has been well worth it.
Wow!! A Spouse is a wealth building tool!! This just changed my life!!! Thank you
You're welcome, thank you for being here! 🧡
Lewis, just to say...your skin is so beautiful!!! Amazing!
Of course
He should have said, “A spouse CAN BE a wealth-building tool.” A spouse can also be a wealth killer.
Just don't go out and marry someone for that reason though! Could come back to bite you in end. That statement has to be taken with many other factors in consideration~ use that advice with discernment & wisdom... make sure you know the other person's financial mental health.
YES!! Love how you interview Lewis. You listen, ask the important questions, and let your guests be the star.
Thank you so much for your kind words 🧡
Probably my favorite podcast of yours. I loved this episode so much because George is such a relatable person and he is giving us a plan we could follow. Thank you George!
So glad you enjoyed it! Appreciate you for watching.
Qaà😊😊😊😊😊😊@@lewishowes
George's story is incredibly motivating and shows the power of financial discipline. For entrepreneurs looking to replicate his success, it's crucial to understand the compound effect of small, consistent financial decisions over time. it's not just about cutting expenses, but also about strategically increasing your income streams.
Amen to what George says! Living below your means is key. I would add -- visit your accounts often and have physical reminders your goals -- spreadsheets that show you where you're at. This will remind you of the goals you've set.
Yes ,measure your progress . That why ee will know how far we are from or goal or if we reached it or not.
you can also try having multiple income streams. Passive or active income can help. So you don't have to feel that poor that you would deprive yourself too much of small things that make you happy.
Absolutely essential to have your plan written down and tracked every month or so. The first few years will not be on targets, but with experience the plans will become achievable taking into account additional spendings, emergency funds, diversifying investments etc. Also with regular tracking our spending comes down, or atleast its more controlled, on things and experiences that matter
One of the best interview. His strategy in building wealth and financial freedom is practical, doable and easy to follow. Thanks for the simple tips. He is humble and empowering.
Amen
Aged 45 with house and 2 car loans, 2 kids in SoCal and suddenly widowed. Budget watched like a hawk and paid everything off in 4 years. It seemed like a long time until the first loan payoff but then it really does snowball.
I work with 3 young ladies who all have college educations but still live off their parents monthly bc they can't budget. They are not working with their degrees bc that's just not really what they wanna do. They call off of work more than they work and eat Uber daily. They all waste 2 hours of the company's time color-coding their budget as they are online buying plants and silly crafts that they plan to someday sell online. Oh and not to mention they spend hours online gaming and finding husbands from other countries that they have never met. They all wonder how I'm older and I'm all around happy and financially stable. Make a budget today and stick to it
Lewis you’re so humble and amazing! I love George too 😊 so happy about this episode
Great Interview Lewis! Happy you had George in your podcast his a wonderful guy who I follow as well as Dave Ramsey. The baby steps work. You just have to commit and discipline yourself. Remember, the borrower is the slave of the lender. Live a debt free life and enjoy the fruits of it later on in life.
It's amazing how I'm listening to this show, thinking about my situation and you guys , Hit on that topoc. I think more and your conversation goes there next... uncanny!
Y’all have to remember most of this kind of advice is very smart. For the masses some of yall disagree because you don’t fall into the mass of people in the United States. So if that’s you just be blessed and think about being in others shoes. That something I can’t stand when people just forget what’s it’s like to be struggling and everything that comes with that financially.
And once again if you never experienced this just be blessed and thankful.
Very good video I enjoy both of y’all’s content.💯
George’s hairdo is on point!
❤
Seven years also feels like an eternity when you're 46, not just when you're in your 20s. I am glad to see financial folks coming up with advice for people in a wide variety of life stages. It's disheartening to listen to one talk about doing stuff when you're young, knowing that the best years as far as compounding interest goes are behind me. I have to start -today-, and somehow resist the urge to do anything foolish because I feel rushed.
Realistically, you’ve got 27-plus years ahead of you! Get going!
I started late too, but I still started. Glad I did, now nearing retirement age. You can do it....just start.
I love how proud of a dad he is, he literally had to show you a picture of his little girl, so cute x
Such a new parent thing to do right? Lol he's such a proud dad. He mentioned his daughter a few times! Love it!
The most attractive thing about a man is his intelligence and integrity.
Absolutely true!!
Keeping up with the Jones disillusionment
Will keep you bound to debt
Live within your means 🙌✨️👌
Lovely heartwarming episode, guys. I appreciate so much that both of you are not cynical. Your openness is life-saving.
Aw, how wonderful for children to have such a thoughtful Dad.
Thank you Lewis for another informative, intellectual conversation/interview. I love your show and enjoy the guests you have on. I gained more respect for George after he shared some backstory. I was that college kid also. As always, I gained pertinent knowledge. Keep on, keeping on!
🧡
Totally relatable - my favorite guest!
@lewishowes you know your audience so well. The moment any question comes to my mind while speaker is talking , I hear you asking that the the very next moment. ❤
My kids graduated college with no loans or debt. My gift to them. I made them swear that they would tell anyone who asked, that they are soooo in debt, credit cards maxed, etc. They aren’t but that’s the way society is these days.
They should be proud to be debt free.
why lie and tell people they’re in debt? Today’s society everyone’s in debt, which is the “popular” thing to do but I say screw that. Better to be debt free in my opinion.
If people ask, it’s better to let them I’m debt free, you can do it too. Just have to make sacrifices, work hard, they can be stress free & not worry about owning anyone.
Hahaha paying for your kids college under the condition they lie to everyone! 😂🤣😂
@@Solo76239some debt is good debt but I do agree! I consider myself debt free myself. 👍🏼
Wow, really??? Paying your kids to lie essentially…
This is the widest thing I've read
YES!!. My favorite of your interviews of all time!... This is where discipline and common sense go hand and hand. Get rid of the outside noise of keeping up with the Jones and take responsibility and focus on your s err of.❤❤
Yes! Thanks George loved your take away to your daughter of the 3 legacies! Hope, kindness and self confidence 👏
Wow…muchas gracias Lewis for your love to educate and share true knowledge with us!!! 💪🏽❤
As a guy graduating debt free soon, this was a needed video to watch when I start dating again. I need to pick wisely. If she is like me in terms of saving for the future and she has debt, I don’t mind helping her or potentially paying it off for her so we can grow together as soon as possible .👍🏼
Morning. Queens NY. Thank you for listening to us and give us gems! Keep on Keeping On
I am from California and I paid my house off without a partner, and I agree it's easier with two, but not everyone can find a woman who is debt free. So, I say go at it alone like I did,.
This was such a great conversation 😊
Thank you!
13:01 - it is true - my mom did change her life and body language once she paid off all her debts.
I remember George as a singer, I knew he worked for Ramsey but that was long before he was in front of the camera.Later, George got to do 1 minute videos for Ramsey and low and behold, he became a host. Such a talent.
👍
Loved this interview. He is full of wisdom. Thrilled a wise man is successful too but not surprised he is either. His daughter is lucky.
Thank you George for your clarity!
I’m intrigued by the short to this one. LFG!
EXCELLENT ADVICE!!!!
THANKS!!!!
💯 % agree abt the relationships, am a saver (I like to spend too but within reasonable limits) and I tend to have things planned out financially, my bf and father of my child is a spender (impulsive) and we don’t see eye to eye on finances and that causes a lot of friction in our relationship and is the single biggest issue why I can’t marry him after a 14 yrs together. Ugh, its a tough one.
I am the spender in my relationship. I assume after 14yrs you've already tried to have 'the talk', but this is for the people who haven't yet:
Sit down together, when you both aren't mad or tired, and share your goals together. Find out WHY you have them (for me, spending is a result of growing up super restricted), and what you can do TOGETHER to achieve your goals. No judgement on either side of why you each have your traits, just a calm conversation. Then set limits together on how much can be spent safely and comfortably, and how much to save and not touch.
If you show that you care enough about your partner to find out what triggers the spending sprees, chances are they will see and appreciate it and agree to help reach your savings goals. It takes time and effort, and understanding, on both sides.
The end of your interview questions are the Very 👌
Is The values we leave behind.
Great interview.
Thank you so much for watching! 🧡
Yes! I definitely enjoyed this interview and agree with every word! I’m a Marine Corps veteran about to divorce, sell my home in Virginia Beach and purchase a new home in Texas so paying off a home in 7 years 😅sounds awesome! I’d like to know all about the Ramsey baby steps he mentioned. Great interview… great advice from 2 great guys.
I'm in Mass, but the wife lived in the Virginia Beach area for almost 10 years and loved it, what is driving you out? I ask because we consider moving sometime in the future.
@@disposabledad I think that Virginia Beach is an extremely nice place to live however, my soon to be ex husband is horrible. Texas has incentives for Veterans like myself and I loved the new construction, cost of living and tax exemptions. I recommend Virginia Beach and Chesapeake VA to everyone.
Love this podcast! Lots of good advice and reminders👍
🧡
YES!! One of the best dialogues on financial peace (love this term!) I've seen. Thank you to George and Lewis for real-life practical advise!!
You're welcome, thank you for watching🧡
Thank you for this interview 👏🏼
This is powerful!
YES , be hopeful , be kind and be YOU! ❤
Dude your podcast is a treasure, its helped me immensely..
So happy to hear it was helpful for you! 🧡
One of the best interviews ever. Loved it.
Thank you!
Love your choice of George because he is real with a real life story of victory that any one can emulate. Thank you.
Love these inspiring stories , amazing journey truly inspiring 💪🏻
Lewis, what a great interview. It felt like two good friends, having a conversation, with great dialogue. GREAT CHANNEL, KEEP UP THE GREAT WORK 🙏
Your story of how you got to “school of greatness” is truly inspirational! You have surpassed all “school” expectations!! 👏🏻👏🏻👏🏻
Yay George! He’s the best!
I've been listening to the content from both of you guys and today clicked into place. I guess I had to be ready to hear it. I've been trying to figure out which thing will make me feel better and happier and have even got estimates. I've been thinking about doing a home renovation, getting a nicer car or installing a pool when I get my new higher paying job next month. But today thanks to your video I'm going to focus on paying off my consumer debt first. Thank you so so much for this motivation.
You're welcome, thank you for watching🧡
Yes, I been following Dave Ramsey and Team 4-5 months now and absolutely happy and enjoying my journey to financial freedom and life 👍
Me too! 🎉🎉🎉🎉🎉
What is that?
Thank you such a great knowledge ❤
Wow thank u very much for this video . Needed to hear this again . 🙏 appreciate you guys . Stay blessed
Thanks for all your knowledge both of you . Namaste
You're welcome, thank you for watching🧡
Yes, definitely a fan and teach the basics to family, friends and clients because I was doing exactly what he mentioned ❤. Thanks for the gems as always!
You're welcome, thank you for watching🧡
I really liked the way he spoke and explained the concepts very candid and relatable
YES! interesting & inspiring episode. I’m grateful for my simple lifestyle & used cars - lol. My dad always told me don’t try to impress anyone except yourself.
Great advice from Dad
WOW what a great conversation, thank you both for your knowledge and sharing it.
You're welcome, thank you for watching🧡
My favorite episode so far 🎉 bring him back for more pleeeeease 🎉
I went to this university and I love D Ramsey .
Please, don't be apologetic for giving your child a better life than you had. That has been the wish of parents since the beginning of time, it's human nature. The more "modern" guilt of privilege and providing for you family is new and wrong. Good luck and congratulations on your achievements.
Can't even take care of myself: thank God I don't have a woman or child relying on me! Don't know how people are so smart, selfless, and mature, because they manage to do so much more than me.. I don't know how y'all do it, when life doesn't hand you anything, and absolutely crushes you from A to Z..
@@MF-kr4hf Learning from what others do who are successful in the things that interest you is one of the most effective ways to change your outcome. Simplicity is also a virtue. Don't try to reinvent the wheel, just do the right things repetitively and over time you will see changes. Good luck and God Bless.
Thank you for having him. Love George Kamel
You're welcome, thank you for watching🧡
This is absolutely pure GOLD.
👍
Wow, got some good insights from this one, THANKS to both of you; and definitely I am into planning now with all that I am hearing about its « + » in all possible areas: planning is a key 🔑….here we go again. I am on it 💪🏻
So glad you enjoyed it! Appreciate you for watching.
Great interview with some valuable take aways!
George, it was an awesome show. Thanks buddy.
Thanks for being here!
I really enjoyed this video so much that I just bought George's book along with the workbook. Thanks to both of you awesome people.
So glad you enjoyed it! Appreciate you for watching.
My hubby drives an 07 Civic… and it’s still pristine. 😁
that was one of the first things I lrearned as a 20 somthing ....if you cant afford the car outright you cant afford payments . I bought the Personal Finance for Dummies book backin the 90s, remember those ? and learned a lot from that book
“ Good point made”. Premium info. Valuable stuff
Yes! Good hearing both sharing thoughts and personal experiences. Great video overall!
Love George, looking forward to this!
Good stuff! Love. George And love the School of Greatness!
Thanks for being here!
Love this Lewis! The amount of knowledge you provide on this platform is priceless 🥰
Appreciate you and your support🧡
Lewis, you are wonderful, I love everything you give us and teach us. Thank you very much 😊
You're welcome, thank you for watching🧡
This was one of the best and most useful interviews I have seen in a long time. Great interviewer, letting the guest really share his views and experiences, and inspiring wisdom from such a young father.
Thank you so much for watching!
Great questions Lewis! This is my first podcast of yours that I've watched and there was a lot of new perspectives because of the questions you brought to the table.
Glad you enjoyed it! Thank you for being here! 🧡
Feeling pretty good about living in affordable Idaho after listening to this. Big George fan!
YES!! LOVE THIS INTERVIEW!!! You both give so much hope! Thank you two!
I couldn't stop listening and wanted more! Such a great episode!!!
So glad you enjoyed it! Appreciate you for watching.
Thank you George for not hiding your Middle Eastern roots ❤
You have got to be one of the greatest teachers I have ever learned from.
We all need these type of advice, Thank you guys
You're welcome !
A deeper insight on how we create our challenges. If we just take some time, to become aware of our unconcious habits/ beliefs, it can unlock our potential to become abundant and create a financial free lifestyle. 👏🏽
Great info
Thank you!