Do You Handle Payday Better Than Your Fav Celeb?
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- เผยแพร่เมื่อ 2 ต.ค. 2024
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Most people think the hard part about getting rich is figuring out how to make a ton of money-but the real challenge might be learning to manage your money well. Today, George and Rachel react to the ways celebrities spent their first paychecks and ponder whether money makes us who we are or if it simply reveals what’s already there.
In this episode:
• Rachel’s crappy first paycheck and how George scored $12 an hour as a 14-year-old
• The emotional roller coaster of the average American’s payday weekend-and a better way to payday
• George and Rachel try to figure out how one celeb dropped $15K at The Cheesecake Factory
Helpful Resources:
• Do you have a Guilty as Charged question for Rachel and George? Send a DM to @rachelcruze or @georgekamel on Instagram! Be sure to type “GUILTY?” at the top of your message so we don’t miss it.
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This Week’s Happy Hour Special: The Mint Julep
Ingredients:
• 2 ounces bourbon
• 1/4 ounce simple syrup
• 8 mint leaves
• Garnish: mint sprig
• Garnish: Angostura bitters (optional)
Instructions: In a copper mug (or a Julep cup), gently muddle the mint leaves in the simple syrup. Pour in the bourbon, then fill the glass with crushed ice. Stir until your mug gets a little frosty. Garnish with a mint sprig and a few drops of bitters and you’ll be off to the races.
Pull up a chair to the happy hour you wish your friends were having. Mix two money experts with some hot takes and a splash of nostalgia, and you get Rachel Cruze and George Kamel talking unfiltered about what’s going on in the world, pop culture, and how to afford a life you love.
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My first job was at Bojangles Chicken when I was 16. My mom kept my money for me in a custodial account, and I'd only get access if it was around Christmas so I could buy gifts for my siblings. When I moved out of the house, my parents handed me a $20,000 check! It made me realize that saying no to spending on frivolous things didn't mean I was missing out; I was able to use that money to get a car and pay rent on a small apartment a year in advance. It was the greatest money lesson I ever learned, and is probably the reason I'm the saver in my marriage today.
Amazing!!
The BEST feeling in the world is being a month ahead in our finances! So each paycheck just goes towards next months budget. It’s a great feeling to be able to go without two paychecks and still be fine.
Nice job! Keep it up and soon you'll be able to 3, 4, 5 etc paychecks without needing one. Great feeling.
Yes!!! We have our emergency fund of course but it’s great to have that extra cushion! Right now we are trying to pay this house off and then we will be so far ahead! I cannot wait for that day!
My first paying job (age 15 in 1995) was at KFC. On paydays, I'd treat my parents to a White Castle family pack and 3 Blockbuster video rentals. I felt like a boss 😊
my first job was KFC as well. I cooked the chicken. I felt greasy all day. I hated it. lol
I love this!! I imagine your parents were so proud! What a great, unselfish gesture for a teenager!
first paycheck, 16 yrs old, McDonald's, $110, dad framed a copy, we took it to Wachovia bank and I took out $20 and saved the rest lol
Taking money from your kid even at 16 or 17 isn't the Ramsey way. I hope he invested it in a college fund for you.
@@katyedwards3935 the cash was for me :)
@@angievol09That's better
lol that’s cute. it’s a start!
Good memories 🙏🏽😺
Payday is tomorrow and it's first one after a promotion and payrise. :D
my first paycheck was from McDonald's and i bought a Big Mac :)
I was a paper girl starting at 12 and got paid each week. I spent my first paycheck at the bookstore.
That idea of getting paid your entire salary at the beginning of the year around 20:00 or so made me realize that could be a really interesting TH-cam series for someone! Might be interesting to find a normal person who convinces the higher ups to pay them everything on January 1st and watch their weekly/biweekly vlogs about tips and ideas and struggles.
My first paycheck I didn't spend, I'm a saver even before I fell in love with this show. Out of the 13,000 that year, I made I saved about 8,000 of it, when I moved out I bought a 3000$ car [died the next year] 2,000$ in house stuff [silverware and cooking stuff], and drained about another 2,000$ figuring out my budget. Lots of fun (:
I’m 75. Would do lump sum, annually.
Ist job: At 13, Saturdays, dusting in my dad’s furniture store, brought home $5.
At 15, working at Sears Roebuck, in the Lingerie Dept selling hosiery, paid $1.25/hr. Don’t remember how I used my first weekly paycheck. It was probably less than $20 after deductions.
Always pretty frugal. And am completely financially secure today.
I absolutely love this weekly podcast/video! Rachel and George are just so great together and super entertaining! I look forward to the new episode every week, and when they come on the Ramsey show together. Thank you for bringing me joy through your podcast 😊
You two have such a GREAT chemistry with each other and how you both feed from one another's comments. Great episode with some surprising show notes. Thanks for the "learning experience". Greetings from Ontario, Canada.
They should take over the show full-time once Dave's ready to choose his successor.
Agreed!!! 🎉❤😊
George is so relatable. He’s all of us. Rachel is who we wish we were 😂 she’s so sweet and innocent.
Can't get enough of SMHH videos! Great content!
When I was 17 (2015) I got a my first job working at Panda Express. During that time, Keurig machines were brand new, and all the rage. My first check aligned close to Mother’s Day and I bought my mom one of the higher end ones with a tiny touch screen 😂 the look on her face was worth it when she opens it.
George will probabpy appreciate that my first check was from (everyone in New England's obligatory first job,) Market Basket. Minimum wage at the time was maybe $4.25 and I was SO EXCITED to be able to pay for a school trip to Italy and go buy CDs at our local record-store Underground Music.
I'm pretty sure my dad actually saved the first paystub somewhere 😂
First job was bagging groceries at Safeway. $8.10/hr and could only work part time due to being a student. I think my paycheck was like $130 take home? I could fill my gas tank for $20 since gas was $0.99/gallon, phone was $40/mo, and car insurance was $65/mo. I felt RICH!
Getting my paycheck all up front wouldn’t motivate me to continue working very hard.
My first "real" paycheck was from Chuck E Cheese when I was 16 (back in the 90's). Minimum wage was $4.25. I felt like a boss when I got a .50 cent raise. I made more money babysitting when I was 12/13 than at that job.
You two are so entertaining and fun to watch. I actively look forward to each new release. Keep it up!
First paycheck from Little Ceasars was spent on a calling card (kinda like a reloadable gift card) so I could call friends out of my area code! 😂
I didn’t buy this with my first paycheck but when I was working full time after high school and still living with my parents I would “budget” $200 a month to shop at Delia’s lol
I LOVE getting paid every Friday!
Love the show
First paycheck went to me taking two new friends I made in college to a local restaurant because they came from out of town and I was the local.
Learn something new each episode, previous that George worked at Apple. This: that he got fired from there. Next one please share why.
Hi George and Rachel! I spent my first paycheck on a palm pilot when I was 17 fresh out of high school and working at Sears. Now that I'm 37, debt free, and follow the Dave Ramsey plan, I'm much more intentional about my spending. I take the time to plan ahead and decide if I really want something. I use the philosophy of will this purchase benefit my life (I can't remember if George or John said that) but it works for me. As for payday, I get paid twice a month, however, I have structured my finances in such a way that I run my budget as if I get paid once a month. So to answer the question of would I like to have my annual salary up front, I would answer yes because I know I could manage it without spending it all.
McDonalds. $5.50 / hour at 15 years old back in 2003.
You two always brighten my day! Thanks for another great show!!
I was 15 years old when i got my first check, flipping burgers. $107. My mom took me to the bank and helped me open a checking account. I deposited $100 and kept $7 to spend. Burger chick 1987 $3.35 an hour.
I don't even know when my payday is lol. That's how you REALLY know you aren't living paycheck to paycheck. I just do my budget monthly, and account for the 2 paychecks I got that month on budget day.
The first (non-mowing job) was at Jack In The Box (Conroe, Texas). I made $1.35 an hour and thought I was rich. The first check (2 weeks) was for $108. I remember buying gas and a Fleetwood Mac album.
You should've done this cocktail in May. It would've been great for the Kentucky Derby.
Why is there always a story "bought a house for their mom in Houston" why do their moms always live in Houston??? What's going on there
As teachers my husband and I get paid once per month. (The last working day of the month) I wouldn’t know how to budget any other way. But as most teachers will tell you, January is the longest month of the year because the January paycheck comes before Christmas. So most of my coworkers (and me before Ramsey) will blow through the January check on Christmas things.
So true. I am a teacher as well and only get paid once a month. Yes, January is the worst. I had to start a Christmas sinking fund so I don't spend my whole paycheck when vacation begins buying gifts for my family and friends. My registration for my vehicle is also due in January so I made a sinking fund for that too. Otherwise I would have to use my Christmas money to pay for registration. So sad!
We get ten month biweekly checks. Guess it depends where you teach. Those two summer months we have to be really intentional!
I am not disciplined enough to get it all at once AND be able to access it as the household needs. I can get a massive windfall and use it wisely in a way that stashes it away OR I can manage a budget (I screw the latter up enough as it is), but not a massive windfall accessible for 12 months. I would indulge everyone around me and run out. 100%
HOWEVER, we do receive our monthly income all at once, at the first of the month. I just portion it out right away. Savings...gone. Giving...gone. Bills paid out of a sinking fund...so thar goes right away. The remainder is flexible. Groceries/eating out/clothes/entertainment etc. is all flexible enough to just budget throughout the month. Sometimes we get to the third or fourth week and look at each other and announce, " We've hit the budget ceiling on eating out!" and act accordingly. Emergency funds and sinking funds are extra essential when living like this. We have a side gig that pays out throughout the month but it is highly unpredictable. No budget could live off of it every single month. Very seasonal. It's taken us years to live responsibly on this unusual set up.
My first paycheck was from working in the ag fields during the summer when I was 14. I spent it on buying clothes for the next school year.
First proper job pay check I was a junior doctor. I went back to HR and told them they had made a mistake and payed me too much (they hadn't)
My husband and I own a seasonal business so we do get paid once a year. We prepay all our utilities/bills and have a prepaid card for groceries. It's useful for deciding what major purchases we want because you don't have traditional savings, but can go fast and it's a little unforgiving it you figure something wrong.
My first babysitting paycheck was spent on a purse. There wasn’t anything left after to put in it
Getting paid once a month is great. It makes you have to plan/budget better. My husband gets paid once a month. We make it work and haven’t had a problem with running out early in the month. That was before we found Ramsey and budgeting. I should note we have both been really good with money.
1st paycheck came from working at assessor's office. use to buy a wallet which I used to put my next paychecks
I would want a check every week
I’m a teacher and am paid on the last business day of the month. I’m married to a teacher. The last week of the month is always a lil sad 😅😂
In Europe we get paid monthly. If people got paid weekly how would they pay rent for the whole month? As most live paycheck to paycheck, not budgeting.
I lied about my age to get my first job (was 15 and the company hired at age 16). Used the money from the job to fund my student exchange program to France. I left that job 2.5 years later as an Assistant Manager.😇
MC Hammer and unchecked generosity yeah that works as a explanation
During this episode I couldn't help thinking... If bee's knees has fruit carvings, what does Rachel call the mint garnish in the julep? Then she said it... a mint tree... and then asked George if he wanted it. Love it. I think Rachel is so classy. You're cool too George.
Lots of teachers are paid only once per month.
My first job was Mcdonalds, I saved 4checks for a car. It was a 1968 AMC Javelin. Great car.
You’re content is really interesting . Awesome show!!
I so look forward to Thursdays!!
With my relatively new job,....I get paid once a mth,.....it took some getting use to the new rhythm of incoming money, but it has actually helped me SAVE money.
1st real job besides babysitting was as a life guard! $5.25 an hour😂
1:15 - Thought George was wearing a pinkie ring, but turns out he’s just holding the cup really weirdly.
SMHH so fun! My husband gets paid every Wednesday so we can eat every week ...lol, actually its a great blessing and makes budgeting so easy because I get paid every two weeks.
i worked at a local burger place. i don’t remember the amount but it was bi-weekly & i had my list of bills that i had to pay & then would spend the rest. it’s struggle ever since to save & spend.
I’d take my paycheck all at once on Jan 1st. Drop it all in a high yield savings, and take what I need according to monthly budget. Same thing I’m doing now biweekly pay, but I’m sure the interest is much better with the first choice, right?
First multiple supermarket paychecks went all to my error in setting up Internet back in 2003, so when everyone called the home we were being charged for internet. I owned up to my mistake and forked over $1,200 of multiple paychecks to own my mistake so my parents didn’t have to cover for me 😢 lol
I get paid once a month and I don't like it. 2x a month would be better 😌
First paycheck i was 16 working at Ritchie Bros. Auctioneers making $10/hr while the mininum wage was only $9.47. I worked 27 hours and was sick to my stomach when taxes were taken out 😂
I get paid 12 times a year. Knowing that, my budget is easy. I pay most of my bills in the first few days of the month.
For my first paycheck, I bought my sister and I bedroom furniture! And some of the furniture still around at my siblings houses! Which is great and sturdy furniture!
Rachel, where did you buy those shoes? They are adorable
My first paycheck at 16 years old. Went to the mall, bought ninja stars, blowgun and a hand crossbow. 100% truth.
This is an epic list.
Granted, approximately 50% of Vince Young’s paycheck went to taxes, that would still leave 12.5 million. That’s still a lot of money.
Rachel - great trousers! Would love to know the brand.
My sister’s first job was at old navy. My parent’s wanted her to pay for her own gas. After she got her first paycheck she realized it wasn’t even enough to pay for gas. She told my parents she would have to quit. They thought it was valuable to have a job and learn responsibility so they agreed to pay for her gas so she wouldn’t quit. So she also learned if she ever wanted to support herself she would need a skill or education that would allow her to get a job that paid for at least as much as the gas it took to get there.
I remember my first check…I bought expensive shampoo and conditioner that smelled soooo good, because we always had the cheap V05 or Suave growing up.
Ben and Matt were basically Dave Ramsey before he was LOL
Great show, as always!! One question: Why did George get fired from the Apple Store?
Mint Juleps are bomb
I'd take lump sum. Would love to pay off all my debt and then be forced to live like minimum wage afterwards.
Lol direct deposit was introduced in the 70s. I don’t think George is THAT old.
So you guys just described my payday feelings … can’t be the only one lol
great content keep up the good work -- would be cool to see a podcast with 5 of the ramsey personalities all at once in addition to the two here
They have got to make that happen! What a great idea I am surprised that isn’t a thing yet.
@@BBEX-fu5hono. George is the only good one. The rest are annoying
Paychecks: not upfront for the year. If I went to a different company in the year then I would need to pay back what I owe them and that feels messy to me. Want to get paid for what I earn.
I could probably look this up but aren't y'all mid 30s.? Talking like your 70
I wouldn't want to be paid for a whole year of work upfront since that would force me to stay at that job for the year. It would also be difficult to continue to work if there was no payday to look forward to.
For 44 years we have gotten paid once a month. If you budget it’s not a problem.
George, I'm going to need you and Rachel wear denim jackets.
When RS invested in a debit card and then never spoke about it again. Also correction you are not money experts.
Love the show….how do you determine if you’re going to add alcohol to your show cocktail or not?
I would not want my total once a year. For a while my husband and i were staggered and it came in weekly. Really nice.
HOA fees are a complete waste of money, like crypto and car bills.
Am i broken? I can NOT remember what i spent my first paycheck on😢
I would not want my pay at the beginning of the year. That take so much discipline to manage it
First w2 job was working at a car wash, I don’t remember what I spent the money on tbh
Minimum wage at my first job was $1.65 an hour! 😂
what are the top 10 things do george and rachel do when they get their check every 2 weeks?
Y’all need to try the French 75 cocktail next!
Can I just say - Rachel’s pants are 👩🏻🍳💋
It’s payday for me today!
Ohhh, my first job was at my parents' restaurant, I think i made about $0.75 - $1.00 an hour. When I got my first job away from home, I had to give my parents 90%. I didn't have money to spend. 😅
3 things I follow with my Money
1) I live below my means
2) I am saving for the future
3) I don't buy anything that I cannot afford.
Optional rule that I follow: If I want to buy a $2000 phone - I should have four times the money in my account to afford that. You live like that you'd be great at everything. You don't need 200k per annum and I am pretty sure all these 300k folks are knee deep in debt.
Rachel with the Amazon pants! Love Yalls Show, Love yall!
she's so classy
First paycheck that wasn't under the table, ie illegal , I was 12 working at Cajun Grille Baltimore Inner Harbor. Lied and said I was 14. $185 after taxes.. Before that, let's just say we all didn't hang out on the corners in Baltimore being good Samaritans.
I was so happy to get away from that life when I moved out on my own at 14.
I'm a teacher. We get paid once a month (last day of the month). When I was single, budgeting was hard. Now that my husband gets paid every two weeks, it's much easier. We just pay the bulk of the bills with my check and use his for weekly expenses (groceries, gas, etc.)
I would love to see what the Ramsey team thinks about being self employed and investing/managing business expenses. I’m considering getting rid of my CC but I’m worried about how to cover my business.
My first job was at Walmart at 18, I start the day as a cashier making $6.25hr and ended the day as an electronics sales rep making $7hr. I used my entire paycheck for gas, food, and iTunes music. :)
As a retiree, my retirement package is that I get paid once a year on January 2. It is for 10 years after retirement, so not only do we budget our annual expenses, but quarterly tax payments, and invest for when after the 10 payments are done. It is a far cry from my first “adult” paycheck was a shock. $259, but after taxes was $196 per week. Rent was $230, utilities were up to $100. I was stupid, and go a loan from Household Finance for a TV. ($50 month). Car payment was $120, student loans were $110. I just remember it was tough making ends meet.
I wonder why George got fired from Apple
I could handle it upfront pending my OT. I have no idea what my salary will be but I’m shooting for 100k and doing well with that goal. Also disgusted with how taxes hood me back. I work 24 hour shifts and get paid for maybe half of it.
Love this episode. The Mint Julip too. My first job was At a Video Store. ( once upon. A time you had to drive to a store to rent movies on VHS) I made $4.25 an hour. I actually saved most of my first check. A side note, in college I was flopping whoppers. The day before payday I was so broke and my car was so low on gas I had to leave it at work and walk home. Next day I walked to work early got my check, and had to buy a gas can so I could put enough gas to start my car.
I only started working with a budget a few months ago (after downloading a little fancy Excel template from Etsy) and pay day is my favourite day! I have a little pay day routine; I make a nice coffee and I sit down and do all my transfers to my savings and other accounts, and then a day or two before, I will look over my budget for the month and start to plan it out. If I overspent last month, why was that? Do I need to take into consideration someone's birthday for next month? etc. ☕ I think it's nice to make a little ritual of it.