5 Money Mistakes People Constantly Make!
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- เผยแพร่เมื่อ 20 ก.ค. 2024
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5 Money Mistakes People Constantly Make!
When I am not scouring Costco's gluten-free bread, you can find me co-hosting The Ramsey Show. Today, we're tackling some major money mistakes that folks make all the time.
Links:
The Ramsey Show: / @theramseyshowepisodes
The Ramsey Show Highlights: / @theramseyshow
Financial Peace University: www.ramseysolutions.com/ramse...
George Kamel is a personal finance expert and co-host of The Ramsey Show. Following Ramsey’s proven money plan, George went from negative net worth to a millionaire in under 10 years. His goal is to help people spend less, save more, and avoid money traps so they can live a life with more margin, options and freedom.
This channel will simplify complex money topics, bust money myths with actual facts, and debunk the stupid financial advice you're seeing in your social media feed. All with a healthy dose of pop culture, humor, and snark.
Nobody knows anything, you need to create your own process, manage risk and stick to the plan, through thick or thin ,While also continuously learning from mistakes and improving
It's possible to hire a skilled financial planner especially if you're not one yourself. I hired one after my retirement pension took a hit in April due to the crash. The planner devised a defensive strategy that protected and profited from my portfolio during this red season. I've made over $250k since then.
Sharon Ann Meny, is the name , Just search the name. You’d find necessary details to work with to set up an appointment.
My wife and i saved $2700, we rented a community center, our family cooked and brought all the food, my family decorated and our pastor married us. It has been 17 wonderful years and still going strong.
yeah I dont get the $20,000 weddings. We spent $800.
We paid ZERO for our wedding. We just went to the municipality office on monday morning, when its FREE. We're together 13 years now, 4 away from being millionaires. We'll be 39 and 36 in four years.
We just got married last Friday at city hall. The cost was a little over $300 which seemed kind of insane. We bought our rings off Amazon for $90(hers) and $20(mine) and honestly maybe this sounds cringe to some but they don't look cheap at all.
@@worganyos we don't even have rings 😜 we just love each other
Wow! My wife would have killed me! We only spent $800. We got married at our church which was free. We invited everyone we knew to the church. We did a catered reception at my parents house for family only. This allowed my wife to have the beautiful wedding she wanted without breaking us.
A marriage license costs a bit of money doesn’t it? 😜
@@DrFearCo not on Monday morning 😉
$72K for a car is hard to swallow.. but for a Kia?!?!
Only Kia I can think of that he got was an EV6 GT. MSRP was around $62K or so. Not sure how he got a "deal" at $70K.
Regardless. I saw a barely used one at Carmax that had 1.3K miles on it for $53K. Mind you someone traded this in for a good bit less.
You gotta check out car prices in Singapore. You get a Prius for $100k and above
@@Enoch161its still a Kia, the vehicle market is out of control.
$70k in debt over a Kia?! 😂😂😂
Absurd.
70K debt over ANY car is absurdly mind-numbingly, ridiculously stupid. 😂
The symptom
That's what happens when people fall in love with a car and only worry about a "low monthly payment"
@@antoniofigueroa5084how the hell do you fall in love with a freaking KIA
I have two kids 3 years and under. Hit baby step three in June. My entire existence is Ramsey, Blippi, and Bluey.
Everything just SMASHED together and my brain got a tickle.
By far the best Ramsey personality
*Chris Hogan
My wife and I just had a nice wedding and honeymoon for under $6,000!
Spreading hate and dissension and stirring up the swamp had me rolling🤣🤣🤣
The sound effects 😂😂😂
Shout out to the trollies!! 🤣
We are Catholics, my sister and her husband exchanged vows during he sermon at regular Su day Mass and guess what, they are just a married as a couple who spent 50K. AND, they bought their house outright 10 years later.
Bluey’s interaction with that unicorn at 1:25 was hilarious
Nobody is going to convince me that renting is better than buying a house.. I have 5 bedroom 2 bath house 2500 square foot house when I bought it the mortgage was Slightly higher than renting the same house in my area.. just 6 years in after inflation, you can't rent a 2 bedroom apartment for what my mortgage payment is..
And I have 150000 in equity.. The key is to buy the house you can afford, not the one you wish you could afford..
George is on FIRE with these videos!
$72K for the Kia is at least smarter than $10K for a dog!
No.
Hey, George, please if you can, do an episode on teaching kids(teenagers) the financial awareness
Would love this
Yes please!
Just holler "Kids! we broke AF!!". There
I remember when George hosted the show by himself. Brave men.
Lol
Cereal then milk then more cereal (because you poured too much milk in the cereal), George. "That's the only proper way."
National Mustard Museum is a real thing in Wisconsin. I have been there, and it is actually a fun little museum.
I love mustard. I need to visit
His videos are awesome, editing and jokes fabulous. 50k subscribers? Really. He needs to be at 5 mil
Billions😊
That's exactly what I was thinking 😂 his content and editing is just unbelievably good, I stumped on his channel completely random and I only know George from the Dave Ramsey show..but his personal channel is EXCELLENT 👌👍
Now he’s at 85k subscribers 🎉
@@candy2325 and counting.
Good news is it's more than doubled since you left this comment.
Spent $15k on a brand new Chevy sonic in 2013. Still have it. Been paid off for years. I’m definitely not over a million net worth and I don’t think it was a bad move personally.
Love that you used the actual calls for basis so we can see real ppl doing these things and what they tell themselves why it’s ok
I'm definitely having some deja vu.
A Whole lot of Deja Vu
Probably didn’t get the expected clicks quick enough so delete and repost when more people might be active
The last vehicle I bought was brand new, a Tacoma. The previous was a year old, my 86.
I plan on keeping both indefinitely, though. One of the two ways I can see new cars as beneficial.
Not related to the money content - but considering you are about to be a parent, I'm so glad you found Bluey 😂
Bluey is a staple in our house. We purchased the DVD set at Target so we could cut some monthly streaming expenses but still watch.
Lmao when George said, I hope somebody invite me to an Indian wedding some day. Lol me too! My former coworker is Indian. I also mentioned to her to invite me to her Indian wedding. Lol
Love the Mustard Museum reference! On Wisconsin ❤
My wife and I met at 18, had a low key wedding at 27 (immediate family only), own 2 homes 1 primary 1 vacation in the mountains. We we're 35 now and we're millionaires at 32. I would do our same wedding 100 times. Don't fall into the trap people.
I feel bad for the lady whose husband flubbed the car scenario. She is newlywed and calling into a finance program for a pickle that her husband got them into. That man is not a provider or a projector. I if I were in her shoes, I would personally would rethink the whole marriage at that point based on the men’s ability to make sound economic decisions.
The world needs George! “And probably a probiotic!” Lol 😂
Why don’t you have millions of subscribers yet George???? I will bet you have millions of happy lurkers…
Well, we are sharing you as often and fast as we can! Slow and steady … slow and steady. 🎉
Wait did I go back in time? Is this a re-upload? 🤯
We have a free church wedding vow at our church near our home. With a friend and their family as our witness at the reception.❤❤❤❤
You’re AMAZING!
Keep up the good job! 🙌🏾
I just came across you on YT, your advice is great, subscribed…
Rachel & George are my favorite hosts outside of Dave.
What was wrong with the first upload?
Love your vids George! I think we spent $2K on our wedding and had a little bit of help from the parents.
What a W
I think ours cost all together about $1k but we got lucky because we were able to borrow tables and chairs. It's so good to hear from others who didn't break the bank!
We spend $2,500 for our wedding 20 yrs ago and I think we splurged 😂.
Spent about $1000 for the wedding (including the dress, tux...that he has worn dozens of times since, decor and food). Gifts totaled a little over $1000, so we broke even.
Love it💯💪🏽
These videos have me so addicted. I think I’ve watched all of them!
Great content 🎉
Did he mean 500,000 Indian dollars because that’s like 7k
Good he finallyfixed it. it was saying " this video is private..sorry " earlier today
Wow! That was a quick run I just did.
I’m really struggling with FOMO in the housing market. Prices/rates have gone up so quickly it feels impossible to save that down payment. It doesn’t make logical sense for me to buy yet but I really feel the pressure to buy just to get in the market before rates and/or prices continue to go up
You can do it, I promise. It's really, really hard to get the ball rolling but once you do it goes fast. Don't give up!
You have to manage expectations. I built my first house, nearly 3000sq ft, in 2021 at the age of 29. But my wife and I also had to get real adult jobs with responsibilities to pull it off. In 7 years we went from an income of $40k to $180k. Part of that included me sucking up and willing myself through engineering school, which I graduated at the age of 26.
My home value has gone up dramatically in the past year. I had been thinking of selling my home and buying a smaller home but there aren't any smaller homes in my area. I like my house so I'll just keep it for the time being. My home is my only debt. It's about 25% of my income.
You can save and work hard to get it one day, the right way. And when another collapse happens, which will be inevitable, you can swoop in line a vulture and save big.
@TheAcesShow there won't be another collapse for awhile. Don't get someone's hopes up for something that is not even fundamentally supported by today's economy. The only collapse that could happen is a treasury default on the national debt, but even then housing inflation is caused from a shortage of houses, thus a housing crash won't happen
Indian weddings are 3 to 5 days or more. Too many ceremonies depending on which area of India.
"$10,000 saving our puppy's life". When I was a kid, that puppy was peacefully euthanized for a lot less. That's insane money to spend on a pet. I know I'm one of the few to think that.
A bullet cost alot less than 10k lol
I agree, but saying it makes you a bad guy. I never can understand how people can spend their child’s college fund on chemo for a 10 year old dog…or some other scenario.
37, modest home paid for, net worth of 1.4M, family of 4. Very blessed with a good job… for some reason money still feels kinda tight, overall we invest about 50% of our pre tax income.
"still feels kinda tight" & "invest 50% of our pretax income" might have something to do with each other lol
May I ask why 50%? Did you all start investing later than 30?
@@douchenozzlemcgee6111 fair point. I’ve been investing 30-50% since I started a “real job” after school…. I finished school a little late due to doing volunteer humanitarian service work for 2 years after high school and working my way through school. Didn’t get a real job until 27 YO…. Would really like to be able to retire or just choose a fun job or do passion project work by the time I’m 45…. That’s the reason for the high savings rate
Actually renting cost more than mortgage repayments. Let's just your rent weekly is $520, that's $2080 monthly give or take. In the end it's not your property, no money in it for you. On the other hand let's just say $250000 mortgage is around $800 to $1000 monthly repayment. In the end you can sale your property at around $300000 to $350000. Saying renting is good or cheaper is simply not true.
Definitely Bluey over Blippi! Great video as always!
I’m single as a Pringle, and while I’m good with that it can get a bit dull at times. I’ve had friends mention that it might be nice for me to get a dog. And I always think “yeah-I could do that!” But-then I hear about situations like the caller with the TEN THOUSAND dollar vet bill, and I immediately know that I couldn’t afford that type of situation. My mind is focused on saving and strategizing for the future, and having an animal is an expensive investment.
My purpose in the market today is to make more money to cover my daily expenses, not to keep losing money. I don't know what to do to change that.
I am in the same situation as you, I want to make all my previous losses in the stock market, but I don't know how to do it
Wow, I can't believe that I can see "Dan PriceC F A" here, he is very good
@HCKRSGMR-qm9kn Can you tell me more about it?
@HCKRSGMR-qm9kn How do I contact him?
This video went away while I was watching it :O
Why did the original video get taken down?
Thanks for the car advise 🚗 Cash only please 💸
I would say gold shouldn't be considered a "fear based" financial investment. Its typical gains beat inflation, and you can either keep it in a bank/account somewhere, or keep it yourself. It's not as strong an investment as mutual funds (if you actually manage the 10-12 percent Ramsey says he gets) But its reliable.
I feel attacked, I pour my milk first lol
My wedding was £4k. Why are people paying 30k. Madness
in 1990 I had been living with my parents for a year after my graduation in '89. I wrote a contract with my college roommate and my brother. We went in together and bought a house together. In the contract we each promised to stay for at least 3 years with a penalty free exit from the house after 5 years. This was the best thing any of the three of us ever did. Never say never.
Subbed for life.
My kids love Bluey!
Perfect
Even your numbers for an indian wedding George are correct if someone is having a very extravagant wedding.
$30,000 for a wedding is crazy. Especially when anyone can get ordained online and you can put some chairs in someone’s backyard for a few hundred dollars. With all the things this generation is killing I really hope the stupid thousands of dollars for a ring and a ceremony are on the list.
Would be great if the original videos were linked in the description
George gave you a dollar and you want two dollars lol
I really hope George adds the short videos himself. It would be great
500k for a wedding? That's wild to me.
My brother in law bought a new truck in 2019 then sold it. Decided he liked that truck after all and bought the same exact one again for MORE money in 2021. 🤦♀️ lol Dudes a doctor.
Not a very smart one
@@brianmcg321 smart people doing dumb stuff. Lol
Cars are the main caused why people are struggling in life!
*Idiotic car loans* are one of the causes in why people are struggling in life.
I bought a used Civic in 2006, in cash. No loans. And I still have it to this day. Why?
Because I learned how to take care of it.
I would stay far away from Kia. They probably won't be in business in a few years anyway due to piles of class action lawsuits and public distrust.
At least with a Kia, you don't have to worry about forgetting your key since a USb cable apparetly does the same thing,
Random is there a UK version of this as seems we do things different over here.
Blippie is the worst. Bluey is the bomb.
That guy with $120,000 in cans buried in the yard better hope the cops weren't listening in....
My wedding cost around $27k including rings, clothes, venue, engagement pics, wedding pics, DJ, food caterer, day of event coordinator, limeo driver, decorations, light staging, tips, bartender, cake, and limited selection of liquor/beer/wine.
My was $300, bough a dress for $150 got flowers for $50, and went out to a dinner for $100
Damn, all this money could be used for 2 years of university for your child !
@inihilisme1511 our family income is now $190k with no student loans. I'm not worried. I expect to be a millionaire before turning 40 years old. And no neither of us is a doctor, lawyer, or had family connections for our jobs.
@inihilisme1511 alot of people also do not include the cost of wedding bands and engagement ring with the cost of a wedding, but I did in that 27k number for completeness.
@@thedude5040 may I ask what you do? looking to change careers
Bluey is the best!
Does the 25% of take-home rule for a mortgage apply before or after insurance and 401k contributions? I take about $1,500 per month out of my check before it hits my account. 😅
the car thing is so true
The guy with 120,000 buried in tin cans his backyard needs to be very very careful because when it’s not in a water, proof container, moisture and mold and rats and bugs can actually destroy the money think about the TV show breaking bad a lot of the money gets destroyed due to weather and animals if you buried in the ground
Hopefully it is in gold and silver
I'm still confused on whether Ashley was engaged or already married when he got the Kia. 🤔🤷♂️
Wow 72k for an electric Kia?!? 😮 jeeeeeezzz heck no
Commenting because 54k subs ain’t right
$10K to save a dog? Sounds like she already has more money than she knows what to do with
This is a pretty good example of why I usually don’t like weddings(besides someone is getting married and I’m not).
If you just want to have a life with someone, you first HAVE TO jump through the hoop of having an expensive fancy bonanza party for no reason. In marriage, you have to move in with someone, share everything, make life plans together, and adjust to living with someone who may not be who you thought they were. Why are you making this extremely complicated change in your life more difficult than it already is?
I wanted a simple wedding for myself, just doing it in a mosque really (I'm a Muslim). Of course my mom was annoyed, saying it's part of our culture to invite a lot of people to the wedding, especially on the woman's side (yes culturally we would do 3 receptions for Malay wedding on average). But hey - my parents are paying for the venue, so I just let it be. If they asked me or my current husband to pay for the venue, then I would totally reject the idea and stick with simple reception near the mosque instead.
Reupload?
10:05 Or buy a smaller house
💯
Definitely cereal then the milk. That's how I found out that my wife was truly an alien. The aliens put their milk first then the cereal. Unfortunately we've been married for 32 years now so it's too late for me. Lol
5:26 Did someone invite you to an Indian wedding yet? If not, George, invite yourself to a wedding locally, and tell them you just want to see one. A descent couple/wedding will not reject you ! Don't forget to buy a gift for the bride or the groom or both!! Indians never disrespect/dishonor a guest.
My wedding was $300 lol. Wym 30k that's still absurd and must be factored in with these half million dollar weddings. What's the median wedding cost not average. It's one day.
Amazing stuff
WE spend years building bridges that we will never even cross...
After seeing how much wrist movement in our stirring I thought maybe I doing it differently. But after watching some people stirring on TH-cam food channels just now. I know see your stirring movement is specific to just you. So either you don’t ever stir anything other than a small 8 ounce cup, or you were just being funny. Either way, nice video
My husband bought a new car for our son and shocked me when he bought a new Corvette at the same time. He planned both purchases but kept the Vette an ugly secret.
That’s nuts
72k for a Kia lol If I had the money I wouldn't even spend 72k on a nice Corvette
Cereal. Then milk. 💯
George is the "Nu Man"
If taco bell didn’t exist, I’d be a EDM
French bulldog😮
Don’t buy a home with a sibling until you’re married. Lesson learned 😜😜
More cat vids and kamel content!
Hello Dave 2.0... 😏🤫🙃