I’ve never heard another TH-camr talk so often about making sure their employees are taken care of. It genuinely makes Caleb happy to share the success. Good dude
@@sylviameyhe’s being drug through the mud for being once friends with a mentally ill man and is somehow being held responsible for that dudes actions?
If you're going to be a cheeky bastrd and dish it out you have to be willing to take it, and he is. It's why his show works so well. Nothing is off limits and he's humble.
@@michelleadams5609Just did, found the evidence to be weak and potentially taken out of context. Not saying the man is a Saint who can do no wrong either. I need more firm evidence if my opinion on that is to be changed.
I'm glad George pushed Caleb on his positions but let him explain his side of their disagreements while offering his position respectfully. High quality content. Free speech at its finest.
This is an example of how to properly interview someone. Throw out your question and let them talk. So many interviewers will interrupt their guest mid point and that just ruins everything. Let your guest state their argument and when they are finished, move in with your counter point and then let the guest address it. This isn’t free speech done well as much as journalism done well.
@@barnabusdoyle4930I would give me left ANYTHING if people would understand what free speech means!!! No one has to let you say ANYTHING on THEIR platform!!!
@@jamielivingston7765 I would agree with that except for one factor. It would be really stupid to bring someone onto your platform and not allow them to make their side of the argument. That costs your credibility, hurts your attempts to get other guests onto your show and can turn your own audience against you. These platforms are still a business and censorship is bad for business, especially in the world of social media. Just look at the backlash Disney has gotten for some of their actions that got enough push back that Disney folded like a lawn chair.
Thanks to watching Caleb and Ramsey my husband and I are 100% debt free. We even paid off our mortgage 18 months ago. The air is so much sweeter now!!!
When I saw the thumbnail I thought "so proud of Caleb for facing his fear of traveling" then I heard Austin Texas. I'm still rooting for Caleb to kick anxiety's butt.
@@OGN123Especially since George's wife is staying home with their child. So it's not a DINK income household. Maybe when they have a 2nd or 3rd kid & you get kids in daycare and/or private school. Who knows.
This was a REALLY interesting conversation! It's a contrast of financial and sociology theories - Caleb wants people to be smart, disciplined and use systems to their advantage to dig their way out of debt quickly. He knows we're dumb, but WANTS us to hustle to WIN. George wants the same, but he seems to be more wary of our shortcomings and wants us to focus less on hustling to win, but to take advantage of those existing systems in order to NOT LOSE. If that makes sense.
Great show🎉 I actually found Dave Ramsey by watching Caleb Hammer a year ago. Keep up the great work. Millions of people are better off because of both of you.
Caleb is 100% we need to educate people better no matter what. If, after education you know you can't be a credit card person then you shouldn't. I'm an example of a credit card person. We spend over 5k a month on all our bills and insurance etc on credit cards. Pay off every month. We fly 4 or 5 times a year to Florida for free with the points.
I became debt free in 2020 following DR. Then sold my home, downsized into an apartment, and invested the proceeds. Caleb's perspective is helpful for those who need continued motivation. I also would like to see a deep dive into the 8 Forms of Capital and the Parallel Economy. Wealth comes in many different ways.
I remember finding Caleb on TH-cam (because I'm into Finance) and commenting with him when his channel was under 10,000 subs. Almost reached out to him when I was in Austin a couple years ago, probably should have, to meet for coffee because I find his perspective interesting. Love the Content - Keep Growing Man
Caleb and The Money Guys introduced me to personal finance, and then I found (and love) George through The Money Guys - It's been really cool to see the Caleb / TMG , George / TMG, and now Caleb / George collabs come out through the years
I watch and love both of your shows. You’re both helping people via slightly different methods - there’s room for everyone at the table. What I love most is that you can disagree while still maintaining a respectful and kind attitude towards each other.
I love Dave Ramsey, and agree with almost everything he says. I have to say, though, I do agree with Caleb on the 30 year mortgage. With home prices what they are right now… Doing a 15 year mortgage would be pretty much impossible. So maybe Dave says we really just couldn’t afford that house, and I get that. I just worry about having a generation of people who are 65+ who are living in an unreliable rental environment… 🤷🏼♀️
Not to mention a home is the primary means of retirement for most Americans. It's a forced savings account with guardrails because you need a place to live.
A person can get a 30 year mortgage and pay it off early. If one treats the 20 year as the absolute last date they'll have thay debt, but sets out to pay it off much sooner, then they're in a better spot. Sometimes a person has extra funds, thay's when to send in an extra payment. Sometimes a person is focused in other goals like saving for a new car (do they don't use an emergency fund to pay for a car). In thay cause they just make the regular payment. The 30 year allows that flexibility. One does not have to take 30 years to pay a 30 year mortgage, but the 30 year makes owning the home and still having savubgs for other things possible for many people.
If I had waited until I had 20% down on a 15 year mortgage, prices would have gone up a ton and I would have had my rent go up by at least $500 per month. Instead, I got into a mortgage that had payments roughly the same as my rent at the time of purchase. But it's locked in. At the time, it was a little tight to save for taxes and repairs and it required discipline. Now, it's awesome to see how much I'm not paying in rent.
@@jenniferpearce1052same! My plan was to refinance into a 15-year but the rates are 4% higher lol. I'll stick with my early payoff plan which worked great for my other debts 👍
More realistic just means more lazy and unwilling to fully commit. Yes Ramsey advice is super strict but it will mathematically get you out of debt the fastest if you can commit.
@@riverrat3269It's irrelevant if you adress people who already struggle with committing to getting out of their bad situations. I feel like Calebs format is basically the first stepping stone and the Ramsey show is more for "intermediately irresponsible" people who at least were willing to take a real look at where they even stand and have some own initiative to try to dig themselves outbof the whole. Calebs viewers are the ones who first need a good wake up call to begin with.
@@riverrat3269lol Dave is an idiotic boomer. If he didn’t sell scam courses and books he’d have like $2 million in his bank. His advice is for the absolute dumbest of the dumb that will die and leave the government a nice stack of cash to steal.
Caleb's advice is always taylored to the individual. The ramsey advice has been simplified and averaged so the same 8 little sentences will work for everybody.
I recently discovered Caleb's show and I am addicted. I like that his format allows him to really dig in and get to know the people who need his help. He shows a ton of empathy even when things frustrate him, and he doesn't seem to think in black and white when it comes to financial advice like credit cards. I bet if the newer Ramsey personalities had more time to spend with the callers, they would show similar traits, but it's such a rapid-fire format that I am certain many callers leave feeling dismissed and dissatisfied. Edit: That being said, I really have to credit Ramsey with giving me the tough love I needed to get out of debt at 33. There are a lot of gems in that show (advice and people). I particularly like George, John, and Rachel.
i kinda wish caleb would invite more people on that are doing good with their finances. Even if he started a second show i think it would be interesting to show that it is possible even on a relatively normal income
I like this idea and think it needs to be a separate channel. The only issue is time. It seems that Caleb and his crew are already extremely busy and don’t know if they’d have time for another channel.
I often wonder if George truly agrees with 100% of the Ramsey principles he defends (no responsible use of credit, no 30yr mortgage, etc) or if he just HAS to defend them to keep his job. He seems like a smart guy and I would be surprised if he didn’t personally recognize that those things aren’t inherently bad across the board. The Ramsey show is awesome and they should keep the system that works for them, but the fact that we never get a simple acknowledgement of “yeah, that perspective makes sense” is kind of disappointing
Dude, if I had the potential to become a multimillionaire and celebrity by working on Dave Ramseys team- I would tow the line too and keep my good job rolling!
DR method works because it's simple, but it's downfall is being so dogmatic and rigid that you cannot question the approach. Probably nothing new that you don't already know but DR is for the financially illiterate who have no desire to level up to using debt in their favor. Which is fine, but like I said it makes conversations with an inflexible position like talking to a brick wall.
@@erikblomqvist8325 Yes, I agree with you - Its ironic that George almost got himself in hot water by presenting well vetted mathematical models for retirement that disagreed with Dave.
I wouldn’t be surprised if anyone working for Ramsey didn’t follow their philosophy 100%. There was a time Dave’s own daughter tried to push back against the $1,000 amount for baby step 1. Dave needs to learn how to evolve and change as the economy does. Nothing stays the same forever and eventually $1K will mean absolutely nothing. Heck, even acquiring $1 million net worth is becoming less of a deal as prices rise.
The purpose of the Ramsey plan is to give a model that 100% of people can follow to win. 100% of people do not win with credit cards. The majority of millionaires pay off their house in 10 years, which likely doesn't happen with a 30 year mortgage.
I did a 30 year mortgage loan on my home, just because life happens and mortgage payments cannot be adjusted unless you refinance. I’ve treated my mortgage loan as an 8 year plan to pay it off. I got my mortgage in 2020 and on track to be done with it by 2026. I also purchased a 45k truck (used) that I financed. Paid it off in one year. I am also investing 15% of my income in a 401k. Been doing it since I was 24 years old.
@@martymcfly88mph35not to many years ago I was struggling and living paycheck to paycheck. One day I looked at a credit card statement and was noticed that only 30 dllrs of my 150 monthly payment were going towards the principal. It was close to tax season and with my tax return decided to pay it off. Since then I’ve tried to be better at my finances. I am 45 years old and want to retire in 9 years. It’s not guaranteed that I’ll live until then ; but at least I am preparing for retirement.
The average American can’t afford a 15 year mortgage somewhere that is both safe and somewhat close enough to work. So I think starting with a 30 year mortgage and then paying it off as quickly as possible is the best way to go. If you can’t put extra to the payment you don’t. But you don’t end up homeless.
It’s called living further from work and driving. Or getting a condo/townhome. The whole point is to make sacrifice now for long term gain. The point isn’t to get everything you want right now.
Sure you can. You just have to adjust your expectation of a home. Just because you don't get exactly what you want when you want it doesn't mean you can't do something. That's like saying I can't fly first class and we have to budget on a vacation so therefore we can't go on a trip. Half the monthly payment on a home is taxes, insurance and other things that doesn't change so going to a 15 year doesn't raise your payment by as much as people think
I'm a fan of getting the 30 year and paying it off in 15. If you come across any unexpected financial issues over the next several years, you have the ability to adjust your payments rather than risk losing your house. It made sense back when I bought my first property and it makes even more sense now with all the absurd price of living increases.
@@MrTaylorfenogliothe difference could be hundreds or close to a $1000 monthly payment different between a 15/30 year loan. If you can comfortably live and save on a 30 and then go for it. The typical family stays in a home for 5-7 years before moving so really a 30 is a good option
Caleb! Unless you rarely shop at Costco, the executive membership more than pays for itself. I’ve broke even most years or better, and once I was under, and when I went to cancel the executive, they gave me cash to cover the difference so I kept it. At 2% back on all Costco purchases, regardless of how you pay (the Costco credit card is separate), as long as you spend at least $3,000 or per year, or $250 per month, you’re going to get more back in rebate than you spent on the extra fee. Spend double that, and you’ve paid for the whole membership with just the rewards. I can’t believe Caleb doesn’t know this! It’s way better IMHO than trying to rack up points with a credit card, because I don’t have to worry about what parts of my budget the payment is coming from once it’s been made. They track all my purchases and give me a reward. Done.
I can’t say enough about a side hussle and the motivation of this channel along with Ramsey. Over the past 4 years I’ve paid over 200,000 off in debt. Gave over 300,000 to ex wife in divorce. I paid my last debt of 7,898 yesterday and still have a little money in my account. I’ve gotten to the point that I don’t like putting anything on a credit card whether I’m able to pay it off or not. It felt great buyinga gift for someone last week for upcoming Christmas and paying it with my debit card. No payment due! LOL This channel has allowed me to be encouraged. I have one heck of a story though. I don’t know how I’ve done it but it feels great. My pay check and side hussle has allowed me to do it! Thanks for the encouragement.
Loved this conversation. I'm a viewer who agrees and disagrees with both Caleb and George when it comes to finance. It was great to see this conversation.
21:48 - 24:55 was such a needed conversation and I'm glad it happened. Especially the point Caleb said at 22:47, why not teach people about it? Yes without knowledge of certain products, people can find themselves up to their eyeballs in debt, but with knowledge that changes the whole game. For example, credit cards, if you use it like a debit card and use all the perks like merchant offers (which some have), protections, cash back, there's just no downside at all as long as you're responsible. But the thing is (and it's why I'm slowly losing empathy for those who aren't knowledgeable with credit cards, for example), if you have a smartphone, or access to WI-FI, you can simply throw in a google search and get all the knowledge and tips and tricks, but you must have that desire to learn. Don't restrict a useful product just because some people are careless.
@@williamryan6794well yes the majority is also not watching these videos. Watching videos about how to is what helps people learn to use it correctly.
Ramsey and friends: We will teach you about low cost index funds that have produced a 100 year historical average of ~10% so that you can invest for your future and be able to retire comfortably. Random Person: Oh wow, so I can put extra $ into index funds instead of my 3% mortgage and be able to retire sooner? Ramsey and friends: NO, God said debt is evil and you can't trust the market! Ramsey and friends: You should make a budget so you wont overspend. Random person: Oh, so if I am responsible and budget then I can use a credit card to make my purchases and get some money back or reward points to save on vacations etc. Ramsey and friends: No, debt is evil, you are stupid and will overspend.
I’m not even finished with the video and I really appreciate that you had the courage to bring on an opposing opinion! Thank you!! We ARE debt free including the house and still use credit cards. All about control/discipline-as with most things in life! ❤️❤️❤️. Thanks for this video!
The Ramseys have had a lot of people call in with an "I'm debt free" so I think their advice is clearly working for many regardless of the cynicism people have. Some people think too logically and forget a lot of humans think and act emotionally, I think Dave's advice makes sense for them. Caleb is doing a great job too.
I ❤ that you bring in people that don’t 💯 agree with your financial advice. It shows that we can disagree and still be friends. Having said that, I’m definitely a Ramsey Solutions girl! My husband and I are in baby steps 7. 😊
I’ve been waiting for over half a year for this convo! It did not disappoint! Love both of y’all and how respectful y’all remained through the differences! 👏😍
I have found these guys' videos (and Dave Ramsey's videos) extremely helpful. I now have no debt apart from my mortgage and I pay roughly 22% of my income into my pension. I'm on track to retire at 60 with a fully paid off home and a pension pot of in the region of 3mill. I've sacrificed to get to this point - I don't have Netflix, I don't buy coffees (I make my own), I don't eat out more than once a month, I don't holiday abroad etc.
Personal finance are similar to diets. Just because one diet works for you doesnt mean it would work for me. However, there is universal wisdom that can be applied. Great video, I really enjoy two successful approaches clash.
But i do really love their content. As well as kamels and calebs. Kamel was the first subscription that had to help me with ideas for saving money and helping my family pay off everything. All this youtube content has been very motivational.
I am so glad this collab happened! 1) for the crossover I’ve been dying for and 2) I’d never seen your channel before and have been looking for a finance show that talks to people that are handling money well
Love hearing the different perspectives on debt. I'm in Caleb's camp on responsible debt management, but I think the Ramsey/Kamel advice should be someone's default.
I am too but reluctantly, I wish I didn't use credit cards but not for finance reasons but ethical and personal reasons, but I use them and have never paid interest.
Net worth truly snowballs after $100k! Keep investing regularly and you'll be blown away how much it can change in a few short years. Here's to $1 million and to FIRE!
My advice to everyone is this : if you want to grow big this year especially in your finances. Be willing to make investments. Saving is great but investing puts you on a pedestal where you wouldn’t have to worry about savings as you do now. Thanks to my FA, my portfolio is doing really great and I’m proud of the decisions i made last year.
Nice. People often underestimate financial advisors' importance. Over 50 years of data reveal that those who work with advisors typically earn more than those who go it alone. I've been fortunate to work with one for 13 years, resulting in a $1 million portfolio, largely from early investments in AI and other growth stocks..
Made my day to see this Colab!! Seriously, two of my favorite personalities! Since listening to Caleb I’ve stopped by unnecessary spending… he grills his guest that have CC 💳 debt and grab some coffee, so I’ve stopped those little charges. Paid off 1-CC and put a lock-on it. I know I am being entertained by the hot-mess guest he has on… BUT, it made me realize how delirious some of my excuses also are. I’m not very different from his guests AND THAT was a scary realization 😳
I'll never go for a 15 year mortgage because in the event that I lose a job or have some other emergency expense happen, the required mortgage payment is smaller than it would be with a 15 year loan. That translates to needing a smaller six month savings fund, and a lot less stress.
I agree plus if your wages go up you'll be able to afford to pay extra + have the option at any time to pay the same as a 15 year mortage except not being forced to.
@magical_lizard731 that's if you do the full 30 year amount. Which is plan is to have a lower and pay it off sooner. Especially with how prices are now.
@@magical_lizard731 That'll depend on the interest rate, and of course the cost could be a lot higher than even that. That said I'll still always go for the peace of mind in having a lower mandatory payment. In the event of an unexpected stretch of unemployment it'll allow savings to stretch a lot further. My Father was unemployed for about four years when I was a kid, so that's always lurking at the back of my mind. If all else fails I can flip burgers and probably keep from going into foreclosure.
I started with a 30yr mortgage at 5.5%. Refinanced to a 15 at a 3.5%. The payment was only like $50 more. I know rates are not that good anymore, but I was shocked that the payment was not all that different. Still made extra payments and paid off the house this month, 2 years early.
George, you are so talented and relatable. I think you would have more success if you left Ramsey and joined someone like Caleb or even did your own thing. You are more sincere and less stand-offish than you peers at Ramsey, and it makes all the difference in the palatability of the content you create.
One thing I've learned from watching both of these men's content, is that most people have the means to be successful and live comfortably, but lifestyle gets in the way.
Started with a 30yr and refid to a 15yr about 2yrs later when rates bottomed. It is the tax & insurance rates that are adding stress, not the mortgage itself.
I feel like I am Caleb's version of a credit card person. I am looking at YNAB as I am going out and spending money, spending only what I have available in the category. Then paying off the card fully at the end of the month, every month. I know that is not in the Ramsey school of money management, but I am still watching my net worth explode.
Ramsey only applies to people with sub 90iq and boomers. Take away his scam courses and book sales. No one would listen to him, because his method isn’t about getting wealthy. It’s about managing and having a boring life until you’re too old to enjoy it then living an average life until you die.
I started working with Miss Walter after I got a loan from a friend and now after receiving profit, I paid my friend and put back my earnings over and over again. I must say she's a very transparent and an honest personality
I hope this means George is also recording with (the) Financial Audit! And with the aside to Dr John, he would also be GREAT on an episode of Financial Audit!!! I’m sure he’d appreciate the trip to Texas more than most, too. 😂
I love that he started doing the follow up show, so we can see what happened! I like his opinion on current financial policies too and what they could mean if implemented
30years loan made absolute sense for me to buy and renovate my first home right away,with one income. I would have missed the opp to buy one in 2013 had i waited. i didnt have much income at that time but enough to buy a 2200 sq brick home. I was disciplined on my finance, refinance to 15 years loan during the beginning of covid and with the goal to pay it off in 5 years. Done with it now.
Love the debate!!!! 😍 I'm with George!!! After paying off debt, my biggest challenge has been what to do with the extra money. It's a good challenge to have. Would be great to follow up with him in 5 years!!!
I tend to lean more towards Caleb’s financial beliefs. I can’t watch too much of his content, it’s too stressful to watch at times with all the yelling. I do like the cutaways for pop culture references, it’s entertaining! Well done to the producers!
Caleb's financial advice is similar to the Financial Order of Operations from the Money Guy Show. They don't do all the cutaways and stuff but Brian and Bo are both certified finance professionals and quite entertaining. Highly recommended!
The credit card paradox: The average person shouldn't use credit cards. But, if the average person didn't use credit cards, they wouldn't be useful for the other people. It's those bad decisions that pay for the benefits that other (much much smaller percentage of) people get.
Sweet Treat Crew checking in!
Sweaty sweets (aka melted ice cream) 😅
Been subbed since 30k dude. Keep it up. Growth has been crazy!
This is a really good sweet treat!!
I've been watching Caleb Hammer since about 40k subs... my thrice-weekly sweet treat! Paid off my car and building up my emergency fund
Sweet Treat Friday!!
I’ve never heard another TH-camr talk so often about making sure their employees are taken care of. It genuinely makes Caleb happy to share the success. Good dude
Have you heard of Mr. Beast?
@@kryptoniteweatheryou don’t know what’s going on with him do you….
@@sylviameyhe’s being drug through the mud for being once friends with a mentally ill man and is somehow being held responsible for that dudes actions?
@@TheBajamin is that all you’re hearing? lol
@@sylviamey you can continue to ask dumb ass rhetorical questions or just say it loser. We can’t all spend all day following TH-camrs.
A hammer and a camel in a car getting coffee, TH-cam is wild
Lol, wished they stopped to get Panda too
Haha it is !
Camel hammer was my nick name in high school
Both kinds of toes🤔
😂😂😂
Anytime Caleb is paired with another finance guy it really highlights how he comes across as more down to earth and reasonable than most others.
Honestly 19:30 onwards just sounds like a lecture trying to convince Caleb of the "Ramsey way"
If you're going to be a cheeky bastrd and dish it out you have to be willing to take it, and he is. It's why his show works so well. Nothing is off limits and he's humble.
@@matthewsawczyn6592watching George try to convince Caleb he’d be happier if he had less money was pretty funny
You didn’t see the videos that exposed him assaulting and the allegations then
@@michelleadams5609Just did, found the evidence to be weak and potentially taken out of context. Not saying the man is a Saint who can do no wrong either. I need more firm evidence if my opinion on that is to be changed.
I'm glad George pushed Caleb on his positions but let him explain his side of their disagreements while offering his position respectfully. High quality content. Free speech at its finest.
This is an example of how to properly interview someone. Throw out your question and let them talk. So many interviewers will interrupt their guest mid point and that just ruins everything. Let your guest state their argument and when they are finished, move in with your counter point and then let the guest address it. This isn’t free speech done well as much as journalism done well.
true, this is a journalism/interview scenario. i didn't think that long about my word choice haha
@@barnabusdoyle4930I would give me left ANYTHING if people would understand what free speech means!!! No one has to let you say ANYTHING on THEIR platform!!!
@@jamielivingston7765 I would agree with that except for one factor. It would be really stupid to bring someone onto your platform and not allow them to make their side of the argument. That costs your credibility, hurts your attempts to get other guests onto your show and can turn your own audience against you. These platforms are still a business and censorship is bad for business, especially in the world of social media. Just look at the backlash Disney has gotten for some of their actions that got enough push back that Disney folded like a lawn chair.
@@barnabusdoyle4930 try to respond to the correct person
I'm going to do one called "Broke People in a used car, not getting coffee" 🤣
Broke people in a used car getting the free ice from a gas station 😂
@@arthrodeahold on….. broke people buy new cars 😅
If you're broke, you buy a $10,000 car for a $45,000 loan at 30% over 72 months and put a down payment or carry insurance.
I'm willing to take part in this.
I'll be your first guest! 🔥
Thanks to watching Caleb and Ramsey my husband and I are 100% debt free. We even paid off our mortgage 18 months ago. The air is so much sweeter now!!!
Congratulations!
Congratulations supporting abusive manipulating media personalities that make their fortune exposing and making light of the suffering of others
I'm glad Caleb stood his ground on RESPONSIBLE use of credit cards and debt. It's not for everyone, but it's also not a death curse for everyone.
Robert Kiyosaki "reach dad, poor dad" stand with Caleb.
@@j.l.salayao8055that dude is an absolute tool I wouldn’t want his endorsement lol
@@j.l.salayao8055Robert Kiyosaki is a con artist.
You're right but that book is the only thing good that's come from him.
You know there are people who "deleted" themselves over debt, including credit card debts!
A Caleb video title would be, “CALEB HAMMER GIVES IT TO A HIPSTER IN HIS OWN CAR”
Very cheeky lol
What a breath of fresh air! Finally, people that don't agree on everything yet they're still able to have a civil discussion.
What, no click bait thumbnail? JKJK, love you guys. We need more George/Caleb showing off success stories and showing how people got there.
Where are the flames and calling someone a simp or cuck or something??!!
Where are the FLAMES and INSULTS
Ladies and gentlemen, this is the moment we’ve been waiting for.
I literally don’t even know who the driver is.
When I saw the thumbnail I thought "so proud of Caleb for facing his fear of traveling" then I heard Austin Texas.
I'm still rooting for Caleb to kick anxiety's butt.
I mean it's still progressing from a year ago.
He let George drive.
Once he gets over that fear he’s going to be traveling a lot more often. Especially if he continues to make more money.
didn't know he had travel anxiety. Is there a specific video of his where he discusses it?
@@timtimethymetie he goes into detail about it on the Iced Coffee Hour
Look for the audit that caleb had done of himself. @@timtimethymetie
Im am so glad the algorithm introduced Finacial Audit to me. Because of Calebs great work it got me motivated to pay off my debt.
Now George should be audited by Caleb!
It'll be the most vanilla thing ever 🤣
@@OGN123Especially since George's wife is staying home with their child. So it's not a DINK income household. Maybe when they have a 2nd or 3rd kid & you get kids in daycare and/or private school. Who knows.
THE CROSSOVER WERE ALL WAITING FOR
MY BODY IS READY ( O.O)
It’s just you. Nobody has any idea who this George fellow is.
Hammer is a dush... no body was waiting for this 😂.
@@MattyP650 You're on his YT channel loser😂😂😂
This was a REALLY interesting conversation! It's a contrast of financial and sociology theories - Caleb wants people to be smart, disciplined and use systems to their advantage to dig their way out of debt quickly. He knows we're dumb, but WANTS us to hustle to WIN. George wants the same, but he seems to be more wary of our shortcomings and wants us to focus less on hustling to win, but to take advantage of those existing systems in order to NOT LOSE. If that makes sense.
My take entirely - very well put.
Well put!
This is a great conversation. George honestly does the Ramsey plan justice and Caleb's financial philosophy holds up.
Great show🎉 I actually found Dave Ramsey by watching Caleb Hammer a year ago. Keep up the great work. Millions of people are better off because of both of you.
Caleb is 100% we need to educate people better no matter what. If, after education you know you can't be a credit card person then you shouldn't. I'm an example of a credit card person. We spend over 5k a month on all our bills and insurance etc on credit cards. Pay off every month. We fly 4 or 5 times a year to Florida for free with the points.
Could not agree with you more 💯
@lucaviladrich2900 I don't understand what your trying to say.
I became debt free in 2020 following DR. Then sold my home, downsized into an apartment, and invested the proceeds. Caleb's perspective is helpful for those who need continued motivation.
I also would like to see a deep dive into the 8 Forms of Capital and the Parallel Economy.
Wealth comes in many different ways.
I remember Graham and Jack interviewing Caleb when he was still so small. It’s crazy how fast he’s blown up.
Life moves quick! But still feels the same as before
@@CalebHammer love your content man! Hope you’re doing well 🩵
I remember finding Caleb on TH-cam (because I'm into Finance) and commenting with him when his channel was under 10,000 subs. Almost reached out to him when I was in Austin a couple years ago, probably should have, to meet for coffee because I find his perspective interesting. Love the Content - Keep Growing Man
Caleb and The Money Guys introduced me to personal finance, and then I found (and love) George through The Money Guys - It's been really cool to see the Caleb / TMG , George / TMG, and now Caleb / George collabs come out through the years
The most anticipated celebrity crossover of 2024
Also known as the _Caleb Colab_
Actually Caleb and Dave would be lol
@@laurab5849 I… I stand corrected.
I watch and love both of your shows. You’re both helping people via slightly different methods - there’s room for everyone at the table. What I love most is that you can disagree while still maintaining a respectful and kind attitude towards each other.
I was wondering how many Caleb F bombs you’d have to edit out 😂
Me too. I found it interesting he could actually control himself when needed.
Also my first thought. 😅
Speaking of the editor, I also liked the clip at 7:12
@@beckypetersen2680I mean it's not that surprising cause he doesn't have to deal with someone who's just super frustrating and acting dumb 😂
I love Dave Ramsey, and agree with almost everything he says. I have to say, though, I do agree with Caleb on the 30 year mortgage. With home prices what they are right now… Doing a 15 year mortgage would be pretty much impossible. So maybe Dave says we really just couldn’t afford that house, and I get that.
I just worry about having a generation of people who are 65+ who are living in an unreliable rental environment… 🤷🏼♀️
Not to mention a home is the primary means of retirement for most Americans. It's a forced savings account with guardrails because you need a place to live.
I don’t understand renting long term and helping someone else pay for their house many times over when you could have your own house
A person can get a 30 year mortgage and pay it off early. If one treats the 20 year as the absolute last date they'll have thay debt, but sets out to pay it off much sooner, then they're in a better spot. Sometimes a person has extra funds, thay's when to send in an extra payment. Sometimes a person is focused in other goals like saving for a new car (do they don't use an emergency fund to pay for a car). In thay cause they just make the regular payment. The 30 year allows that flexibility. One does not have to take 30 years to pay a 30 year mortgage, but the 30 year makes owning the home and still having savubgs for other things possible for many people.
If I had waited until I had 20% down on a 15 year mortgage, prices would have gone up a ton and I would have had my rent go up by at least $500 per month. Instead, I got into a mortgage that had payments roughly the same as my rent at the time of purchase. But it's locked in. At the time, it was a little tight to save for taxes and repairs and it required discipline. Now, it's awesome to see how much I'm not paying in rent.
@@jenniferpearce1052same! My plan was to refinance into a 15-year but the rates are 4% higher lol. I'll stick with my early payoff plan which worked great for my other debts 👍
Never thought these two would do a video together…but I’m here for it
Knowing Caleb crossed Millionaire makes me so happy.
Was he talking money or subs? I couldn't tell.
@@moimeself1088Both. He said the money was September 2023. Not sure when he passed a million subs.
Caleb's advice is always much more realistic and more healthy long-term in my opinion.
More realistic just means more lazy and unwilling to fully commit. Yes Ramsey advice is super strict but it will mathematically get you out of debt the fastest if you can commit.
@@riverrat3269It's irrelevant if you adress people who already struggle with committing to getting out of their bad situations.
I feel like Calebs format is basically the first stepping stone and the Ramsey show is more for "intermediately irresponsible" people who at least were willing to take a real look at where they even stand and have some own initiative to try to dig themselves outbof the whole.
Calebs viewers are the ones who first need a good wake up call to begin with.
@@riverrat3269lol Dave is an idiotic boomer. If he didn’t sell scam courses and books he’d have like $2 million in his bank. His advice is for the absolute dumbest of the dumb that will die and leave the government a nice stack of cash to steal.
Caleb's advice is always taylored to the individual. The ramsey advice has been simplified and averaged so the same 8 little sentences will work for everybody.
I recently discovered Caleb's show and I am addicted. I like that his format allows him to really dig in and get to know the people who need his help. He shows a ton of empathy even when things frustrate him, and he doesn't seem to think in black and white when it comes to financial advice like credit cards. I bet if the newer Ramsey personalities had more time to spend with the callers, they would show similar traits, but it's such a rapid-fire format that I am certain many callers leave feeling dismissed and dissatisfied.
Edit: That being said, I really have to credit Ramsey with giving me the tough love I needed to get out of debt at 33. There are a lot of gems in that show (advice and people). I particularly like George, John, and Rachel.
Does Caleb’s shirt say “I’m an asset man”? 😂😂😂
Heheh
^Caleb Hammer merch plug, lol
He has “dirty money” merch
I love it 😂
@tryingtowalkthepath683 *queue. Not Que.
i kinda wish caleb would invite more people on that are doing good with their finances. Even if he started a second show i think it would be interesting to show that it is possible even on a relatively normal income
I like this idea and think it needs to be a separate channel. The only issue is time. It seems that Caleb and his crew are already extremely busy and don’t know if they’d have time for another channel.
I often wonder if George truly agrees with 100% of the Ramsey principles he defends (no responsible use of credit, no 30yr mortgage, etc) or if he just HAS to defend them to keep his job. He seems like a smart guy and I would be surprised if he didn’t personally recognize that those things aren’t inherently bad across the board. The Ramsey show is awesome and they should keep the system that works for them, but the fact that we never get a simple acknowledgement of “yeah, that perspective makes sense” is kind of disappointing
Dude, if I had the potential to become a multimillionaire and celebrity by working on Dave Ramseys team- I would tow the line too and keep my good job rolling!
DR method works because it's simple, but it's downfall is being so dogmatic and rigid that you cannot question the approach.
Probably nothing new that you don't already know but DR is for the financially illiterate who have no desire to level up to using debt in their favor. Which is fine, but like I said it makes conversations with an inflexible position like talking to a brick wall.
@@erikblomqvist8325 Yes, I agree with you - Its ironic that George almost got himself in hot water by presenting well vetted mathematical models for retirement that disagreed with Dave.
I wouldn’t be surprised if anyone working for Ramsey didn’t follow their philosophy 100%. There was a time Dave’s own daughter tried to push back against the $1,000 amount for baby step 1. Dave needs to learn how to evolve and change as the economy does. Nothing stays the same forever and eventually $1K will mean absolutely nothing. Heck, even acquiring $1 million net worth is becoming less of a deal as prices rise.
The purpose of the Ramsey plan is to give a model that 100% of people can follow to win. 100% of people do not win with credit cards. The majority of millionaires pay off their house in 10 years, which likely doesn't happen with a 30 year mortgage.
I love the intellectual back and forth two respectful approaches. It's ok to disagree and they both showed why they believed what they believed.
I did a 30 year mortgage loan on my home, just because life happens and mortgage payments cannot be adjusted unless you refinance. I’ve treated my mortgage loan as an 8 year plan to pay it off. I got my mortgage in 2020 and on track to be done with it by 2026.
I also purchased a 45k truck (used) that I financed. Paid it off in one year.
I am also investing 15% of my income in a 401k. Been doing it since I was 24 years old.
Mmm… always saw my self lock to my 30 year mortgage, I’m go do my numbers to try to follow your idea :)
We don't all make 200K a year; unfortunately Juan
@@martymcfly88mph35not to many years ago I was struggling and living paycheck to paycheck. One day I looked at a credit card statement and was noticed that only 30 dllrs of my 150 monthly payment were going towards the principal. It was close to tax season and with my tax return decided to pay it off.
Since then I’ve tried to be better at my finances. I am 45 years old and want to retire in 9 years.
It’s not guaranteed that I’ll live until then ; but at least I am preparing for retirement.
I agree, that’s a great way to do it. Not everyone is as disciplined as you, but if they are then I think your plan is great. 🙂
7:09 dont tell me what to do 😂
I cackled at that
The average American can’t afford a 15 year mortgage somewhere that is both safe and somewhat close enough to work. So I think starting with a 30 year mortgage and then paying it off as quickly as possible is the best way to go. If you can’t put extra to the payment you don’t. But you don’t end up homeless.
It’s called living further from work and driving. Or getting a condo/townhome. The whole point is to make sacrifice now for long term gain. The point isn’t to get everything you want right now.
Sure you can. You just have to adjust your expectation of a home. Just because you don't get exactly what you want when you want it doesn't mean you can't do something. That's like saying I can't fly first class and we have to budget on a vacation so therefore we can't go on a trip. Half the monthly payment on a home is taxes, insurance and other things that doesn't change so going to a 15 year doesn't raise your payment by as much as people think
@@MrTaylorfenoglio People don’t want to hear any of that. They want what they want, and they want it now!
I'm a fan of getting the 30 year and paying it off in 15. If you come across any unexpected financial issues over the next several years, you have the ability to adjust your payments rather than risk losing your house. It made sense back when I bought my first property and it makes even more sense now with all the absurd price of living increases.
@@MrTaylorfenogliothe difference could be hundreds or close to a $1000 monthly payment different between a 15/30 year loan. If you can comfortably live and save on a 30 and then go for it. The typical family stays in a home for 5-7 years before moving so really a 30 is a good option
Everything caleb does is worth the watch! Don’t sleep on this man!!
Caleb! Unless you rarely shop at Costco, the executive membership more than pays for itself. I’ve broke even most years or better, and once I was under, and when I went to cancel the executive, they gave me cash to cover the difference so I kept it. At 2% back on all Costco purchases, regardless of how you pay (the Costco credit card is separate), as long as you spend at least $3,000 or per year, or $250 per month, you’re going to get more back in rebate than you spent on the extra fee. Spend double that, and you’ve paid for the whole membership with just the rewards.
I can’t believe Caleb doesn’t know this! It’s way better IMHO than trying to rack up points with a credit card, because I don’t have to worry about what parts of my budget the payment is coming from once it’s been made. They track all my purchases and give me a reward. Done.
He’s a single guy with no kids and I don’t think his team is that big either
I can’t say enough about a side hussle and the motivation of this channel along with Ramsey. Over the past 4 years I’ve paid over 200,000 off in debt. Gave over 300,000 to ex wife in divorce. I paid my last debt of 7,898 yesterday and still have a little money in my account. I’ve gotten to the point that I don’t like putting anything on a credit card whether I’m able to pay it off or not. It felt great buyinga gift for someone last week for upcoming Christmas and paying it with my debit card. No payment due! LOL This channel has allowed me to be encouraged. I have one heck of a story though. I don’t know how I’ve done it but it feels great. My pay check and side hussle has allowed me to do it! Thanks for the encouragement.
Loved this conversation. I'm a viewer who agrees and disagrees with both Caleb and George when it comes to finance. It was great to see this conversation.
21:48 - 24:55 was such a needed conversation and I'm glad it happened.
Especially the point Caleb said at 22:47, why not teach people about it?
Yes without knowledge of certain products, people can find themselves up to their eyeballs in debt, but with knowledge that changes the whole game.
For example, credit cards, if you use it like a debit card and use all the perks like merchant offers (which some have), protections, cash back, there's just no downside at all as long as you're responsible.
But the thing is (and it's why I'm slowly losing empathy for those who aren't knowledgeable with credit cards, for example), if you have a smartphone, or access to WI-FI, you can simply throw in a google search and get all the knowledge and tips and tricks, but you must have that desire to learn.
Don't restrict a useful product just because some people are careless.
*Most* people are careless. That's the problem. Caleb even admits the majority of people can't handle it.
@@williamryan6794well yes the majority is also not watching these videos. Watching videos about how to is what helps people learn to use it correctly.
Ramsey and friends: We will teach you about low cost index funds that have produced a 100 year historical average of ~10% so that you can invest for your future and be able to retire comfortably.
Random Person: Oh wow, so I can put extra $ into index funds instead of my 3% mortgage and be able to retire sooner?
Ramsey and friends: NO, God said debt is evil and you can't trust the market!
Ramsey and friends: You should make a budget so you wont overspend.
Random person: Oh, so if I am responsible and budget then I can use a credit card to make my purchases and get some money back or reward points to save on vacations etc.
Ramsey and friends: No, debt is evil, you are stupid and will overspend.
The collaboration I've been waiting months for!
Just bought some summer moon coffee online simply on the basis of my guys calling you both “boss” multiple times. I love it.
That dude was the chillest drive thru employee I think I've ever seen
This is the collab I've looking forward to. I'm a huge fan of Caleb Hammer's show.
I’m not even finished with the video and I really appreciate that you had the courage to bring on an opposing opinion! Thank you!! We ARE debt free including the house and still use credit cards. All about control/discipline-as with most things in life! ❤️❤️❤️. Thanks for this video!
The Ramseys have had a lot of people call in with an "I'm debt free" so I think their advice is clearly working for many regardless of the cynicism people have. Some people think too logically and forget a lot of humans think and act emotionally, I think Dave's advice makes sense for them. Caleb is doing a great job too.
Very glad Caleb held strong to his views on credit cards & the 30 yr mortgage. Not everyone is beans & rice.
Watching this at 8:30 and then waiting for Caleb's next video at 10. Good day.
Sweet Treat Gang
@@CalebHammerthank you for doing what you do man.
"Don't tell me what to do." LMAO that was so good
OMG!!! Can’t wait to watch this collab, huge fans of both you guys. 💛
I ❤ that you bring in people that don’t 💯 agree with your financial advice. It shows that we can disagree and still be friends. Having said that, I’m definitely a Ramsey Solutions girl! My husband and I are in baby steps 7. 😊
The coffee order sounded like another language
So true!!! I mean…. What the heck!
It’s so good tho. Def recommend if you’re ever in central Texas
Ikr
I’ve been waiting for over half a year for this convo! It did not disappoint! Love both of y’all and how respectful y’all remained through the differences! 👏😍
$13.80 for two coffees? You're reminding me why I never get coffee at coffee places...
I stopped about 2 years ago. I just buy great quality beans from a small independent roaster and brew at home. Granted, I work remotely.
I have found these guys' videos (and Dave Ramsey's videos) extremely helpful. I now have no debt apart from my mortgage and I pay roughly 22% of my income into my pension. I'm on track to retire at 60 with a fully paid off home and a pension pot of in the region of 3mill.
I've sacrificed to get to this point - I don't have Netflix, I don't buy coffees (I make my own), I don't eat out more than once a month, I don't holiday abroad etc.
Personal finance are similar to diets. Just because one diet works for you doesnt mean it would work for me. However, there is universal wisdom that can be applied. Great video, I really enjoy two successful approaches clash.
But i do really love their content. As well as kamels and calebs. Kamel was the first subscription that had to help me with ideas for saving money and helping my family pay off everything. All this youtube content has been very motivational.
They should have filmed this in a 1989 Geo Metro with no AC and crank windows.
Love the professional respectful disagreement and discussion! Both are very passionate about their views but respect each other. Love this!!!
Caleb has change my wife's and I life. He's provided great financial knowledge while keeping it entertaining.
I am so glad this collab happened! 1) for the crossover I’ve been dying for and 2) I’d never seen your channel before and have been looking for a finance show that talks to people that are handling money well
Love hearing the different perspectives on debt. I'm in Caleb's camp on responsible debt management, but I think the Ramsey/Kamel advice should be someone's default.
I am too but reluctantly, I wish I didn't use credit cards but not for finance reasons but ethical and personal reasons, but I use them and have never paid interest.
Net worth truly snowballs after $100k! Keep investing regularly and you'll be blown away how much it can change in a few short years. Here's to $1 million and to FIRE!
My advice to everyone is this : if you want to grow big this year especially in your finances. Be willing to make investments. Saving is great but investing puts you on a pedestal where you wouldn’t have to worry about savings as you do now. Thanks to my FA, my portfolio is doing really great and I’m proud of the decisions i made last year.
Nice. People often underestimate financial advisors' importance. Over 50 years of data reveal that those who work with advisors typically earn more than those who go it alone. I've been fortunate to work with one for 13 years, resulting in a $1 million portfolio, largely from early investments in AI and other growth stocks..
i've been considering getting one, but haven't been proactive about it. Can you recommend your advisor? I could really use some assistance.
Jessica Lee Horst is the licensed advisor I use. Just research the name. You’ll find necessary details to work with to set up an appointment.
Thank you for the recommendation. I'll send her an email and I hope I'm able to connect with her.
Made my day to see this Colab!! Seriously, two of my favorite personalities! Since listening to Caleb I’ve stopped by unnecessary spending… he grills his guest that have CC 💳 debt and grab some coffee, so I’ve stopped those little charges. Paid off 1-CC and put a lock-on it. I know I am being entertained by the hot-mess guest he has on… BUT, it made me realize how delirious some of my excuses also are. I’m not very different from his guests AND THAT was a scary realization 😳
George's team with the clips!! Love it!! Been waiting for this since Caleb teased it!
I'll never go for a 15 year mortgage because in the event that I lose a job or have some other emergency expense happen, the required mortgage payment is smaller than it would be with a 15 year loan. That translates to needing a smaller six month savings fund, and a lot less stress.
I agree plus if your wages go up you'll be able to afford to pay extra + have the option at any time to pay the same as a 15 year mortage except not being forced to.
@magical_lizard731 that's if you do the full 30 year amount. Which is plan is to have a lower and pay it off sooner. Especially with how prices are now.
@@magical_lizard731 That'll depend on the interest rate, and of course the cost could be a lot higher than even that. That said I'll still always go for the peace of mind in having a lower mandatory payment. In the event of an unexpected stretch of unemployment it'll allow savings to stretch a lot further. My Father was unemployed for about four years when I was a kid, so that's always lurking at the back of my mind. If all else fails I can flip burgers and probably keep from going into foreclosure.
I started with a 30yr mortgage at 5.5%. Refinanced to a 15 at a 3.5%. The payment was only like $50 more. I know rates are not that good anymore, but I was shocked that the payment was not all that different. Still made extra payments and paid off the house this month, 2 years early.
George, you are so talented and relatable. I think you would have more success if you left Ramsey and joined someone like Caleb or even did your own thing. You are more sincere and less stand-offish than you peers at Ramsey, and it makes all the difference in the palatability of the content you create.
Biggest crossover since Endgame
One thing I've learned from watching both of these men's content, is that most people have the means to be successful and live comfortably, but lifestyle gets in the way.
Started with a 30yr and refid to a 15yr about 2yrs later when rates bottomed. It is the tax & insurance rates that are adding stress, not the mortgage itself.
I feel like I am Caleb's version of a credit card person. I am looking at YNAB as I am going out and spending money, spending only what I have available in the category. Then paying off the card fully at the end of the month, every month. I know that is not in the Ramsey school of money management, but I am still watching my net worth explode.
Ramsey only applies to people with sub 90iq and boomers. Take away his scam courses and book sales. No one would listen to him, because his method isn’t about getting wealthy. It’s about managing and having a boring life until you’re too old to enjoy it then living an average life until you die.
27:39 love the respect here. I personally prefer the simplicity and stability of the Ramsey way, but Caleb is doing great.
George, love this format! Super happy for you. Caleb was an excellent guest.
*Thank you😊 for this video, do you offer account management or have any recommendations?*
I've been trying to trade but I keep making losses and it's frustrating
VICTORIA WALTERS HAYWARD is exceptionally good, i believe you should give her a try
There seems to be constant mention of
"Victoria Walters Hayward" everywhere I turn. Are the accolades and reviews truly worth her?
Her platform is user friendly, transparent and secure with no restrictions
I started working with Miss Walter after I got a loan from a friend and now after receiving profit, I paid my friend and put back my earnings over and over again. I must say she's a very transparent and an honest personality
Thanks GK & CH!! This was great!! Always appreciate both your shows and thanks for the always-useful advice.
I hope this means George is also recording with (the) Financial Audit!
And with the aside to Dr John, he would also be GREAT on an episode of Financial Audit!!! I’m sure he’d appreciate the trip to Texas more than most, too. 😂
This is definitely the highlight to my day. The collab we didn’t know we needed. 😊 I am a big fan of you both.
Caleb is a great guy! I am very impressed with him !
After watching this I have realized for different people different methods work for them and they are truly all valid.
I love both you guys..but George please let him finish his sentences 😂
I am one of the people who had never heard of this guy, just subbed to see what his channel is all about.
Graphic Dave Ramsey 😂, glad Caleb was on your show, George!
I love that he started doing the follow up show, so we can see what happened! I like his opinion on current financial policies too and what they could mean if implemented
We LOVE you Caleb!!
Yessss team Caleb!! 🙌
Ive been waiting so long for this collab!!! Loved it!
When you were ordering the coffee, it was like you both started speaking in a foreign language. lol
Bro...I've been waiting for this since the past year! Finally! sending likes from Malaysia!
30years loan made absolute sense for me to buy and renovate my first home right away,with one income. I would have missed the opp to buy one in 2013 had i waited. i didnt have much income at that time but enough to buy a 2200 sq brick home. I was disciplined on my finance, refinance to 15 years loan during the beginning of covid and with the goal to pay it off in 5 years. Done with it now.
Subscribed to Caleb now because of this video. Thanks George.
You're in for a wild ride. Its Jerry Springer meets Dave Ramsey.
Feels like I've been waiting for this for years
This video scratched an itch I didn't know I had.
Love the debate!!!! 😍
I'm with George!!! After paying off debt, my biggest challenge has been what to do with the extra money. It's a good challenge to have.
Would be great to follow up with him in 5 years!!!
After I paid off my debt, I started saving up the downpayment for my first home.
Caleb is a favorite of mine. Glad to see you two in a video together!
What an amazing collab. I feel like this conversation could stretch for hours more and really hit every aspect of personal finance
I tend to lean more towards Caleb’s financial beliefs. I can’t watch too much of his content, it’s too stressful to watch at times with all the yelling. I do like the cutaways for pop culture references, it’s entertaining! Well done to the producers!
Caleb's financial advice is similar to the Financial Order of Operations from the Money Guy Show. They don't do all the cutaways and stuff but Brian and Bo are both certified finance professionals and quite entertaining. Highly recommended!
All the edits for George’s videos have a real “how do you do, fellow kids” energy
The credit card paradox:
The average person shouldn't use credit cards.
But, if the average person didn't use credit cards, they wouldn't be useful for the other people. It's those bad decisions that pay for the benefits that other (much much smaller percentage of) people get.
They get paid 2.9% of the purchase and give me 1%,1.5%, or 2% back, but necessarily from those poor decision makers who misuse credit cards.
I love watching Caleb. I love that he finally did a sot down with a Ramsey personality.
If XAI900T is not mentioned then there is no point in pretending nothing happened man
But this is no meme right?
strong movement on this!!
This won't save Elon's X
The xAI is energy efficient and scaling, nothing comes close imo
You should know their video it is important