The Sneaky Habit That Is Stealing Your Paycheck (with George Kamel)
ฝัง
- เผยแพร่เมื่อ 21 ก.พ. 2023
- 💵 Create a free budget. Sign up for EveryDollar today! ⮕ ter.li/gbb4v8
• Follow George Kamel: georgekamel...
• Check out Smart Money Happy Hour: bit.ly/3C9gQEN
• Learn more about Zander today!: bit.ly/3Ap3R1R
Sponsors pay the producer of this show, The Lampo Group, LLC, advertising fees for mentioning their services or products during programming. Advertising fees are not based upon or otherwise tied to any product sale or business transacted between any consumer or sponsor. The following sponsors have paid for the programming you are viewing: Zander Insurance.
Order my brand-new book, "Know Yourself, Know Your Money"! bit.ly/2LIclKS
Watch and subscribe to all The Ramsey Network shows here: th-cam.com/users/TheRamseySh...
Ramsey Solutions Privacy Policy
www.ramseysolutions.com/compa...
Don't be impulsive with money, but also don't wait for retirement to do the things you love. You only get one chance on this earth. Your body on retirement will not be the same as your body now.
People should have an outing budget for that very reason! Enjoy life! Plus there are many fun stuff people can do that barely cost any money
Life and money needs a balance. We spent so much on vacations. It was memorable and we did so many incredible things. But wished I had limited it. I can’t do any of those things anymore. But now on a very limited budget. Wish I had “budgeted my Life” better. “Watch Out”, old age creeps up on you before you know it.
Hi Rachel and George. My Dad must have told me a trillion times "Pay Yourself First". And I did because to me my Dad is the most brilliant man alive and now me and my husband are doing very well. Thank You Daddy!!
The perception of value is something that I have REALLY thought about these past few days. My friend said the coffee she gets is like $6. I said "Let's see what that is per year." $6 x 5 days a week x 52 weeks = $1560!! Craziness. Then as I thought about it even more, designer bags like Coach are about $300 each. That's the equivalency of 5 Coach purses every year. If you saw someone having 5 new Coach handbags every year, you would say "hhhhhhhmmm, you're irresponsible and blowing your money." But someone buying a single coffee everyday, seems completely normal.
This is a golden example
Except the $1560 of coffee can help people get through the day, providing them usable energy. What does the 5 $300 coach purses do? Nothing. So it's still correct, buying designer bags is blowing your money, while buying a single coffee every day is more acceptable.
That's another perception of value.
@@soapa4279 the point is they are both overpriced. You can make coffee at home for 50 cents if not less and they taste is great too.
@@Churros1616 the OP wasn't comparing the value of coffee at home to bought coffee. She was comparing 5 $300 coach bags a year to an entire year of coffee.
I was making the point that at least even a $6 cup of coffee a day is more useful than 5 designer bags sitting in a closet. Nowhere was this about "oh but you can make cheaper coffee at home" because everyone knows that already.
@@soapa4279 but someone can turnaround and say, "YOU need buy coffee everyday for energy, I don't." Therefore the purses are more valuable to them because they use them every day.
I could watch George & Rachel all day! 😆
I know right lol they are wonderful ❤
They are my favorite duo. ❤
Me too!
We have had term life insurance for 35 years. I lost my 1st husband suddenly and it was what gave the kids and I stability.
My deepest condolences but I'm so happy you were still able to be in a good place financially ❤️ prayers to you and your family 🙏🏻
I'm cracking up at all of Rachel's friends using credit cards. 😂
Some lifestyle improvement is good though. For years I only had basics liability car insurance bc it’s really cheap. If I had an accident, I was out of a car and had to get a loan for $4500 to get another one.
I didn’t pay into 401k, I didn’t really tithe like should have, I ate the cheapest of the cheap quality food from Walmart. I wore Walmart clothes. I bought one pair of shoes and made them work for 2yr or more.
My life is much improved now. Food is better, money on a gym to exercise and eat healthy. 401k, savings, finally paying on student loan.
Yeah I guess you could call it lifestyle creep, but you can’t live like a college student forever.
I don’t even like going out to eat anymore idk if my taste buds have changed but I’m not impressed by what’s out there
And high prices and then expected high tip on top of that! Too much even if the food was good!
I have never used Uber Eats or Door Dash and until I'm physically unable to leave the house, I plan to never open that door because as soon as you try anything ONCE, even for reasons that make more sense at that time, you will feel like it is that much easier for you to do it again even when the reasons make less sense. Draw a hard line in the sand. Don't even do pizza delivery unless you physically can't get over there to pick it up.
As a Zambian, that Samantha Mumba reference warmed my heart (because we claim her). Great insights RC+GK.
I’m living for George’s “fuddy-duddy” impression. I need that as a ringtone for myself and kids. 😂
George and Rachel - always good together. Great episode 😄
Yes the thumbnail is pretty funny. Probably George’s idea
Rachel & George. You two certainly have a "chemistry" that comes across on camera. Always something to learn from watching and then putting into action. Thank You both. Greetings from Ontario, Canada.
You two are pure comedy😂😂 I love it. I can watch you two, laugh and learn all at the same time haha
Sometimes life happens. I started seperating my money, for clothes and things, while saving for a flat, but then a wedding came up... I needed to buy a suite, hotel, train ticket, then I realised there was a train strikes leading to an extra night in the hotel
The wedding was awesome, it just sometimes life can knocks you back financially. It will only take a few months to get back on track :-)
This is a awesome video. Very true! 😊
Its hard when loved ones or friends invite to expensive places but they its your life, we had to say no sometimes but it was rewarding after, saying we will have a house soon, wow thats a statement among those that live in apartments for years! Thanks for the video!❤
My house has definitely experienced lifestyle creep over the last 3 years. I've recently acknowledged that and am trying to get control of it.
I feel like there were two types of people when the pandemic started, those who wanted everything delivered to them at any cost and those who would deliver those goods to them. I chose to deliver those goods to them.
5000 deliveries, only ordered food 4 times and each time I winced at the total 🙄
In the office Bring your lunch everyday. Your co-workers will be going out ot eat lunch or using expensive food delivery apps. Be the odd one then see who is living paycheck to paycheck.
Correct!! I see my upper management team complain about money and paying the bills. They make more money than I do. They rather spend it on food and new cars and bigger homes. I’m here older car paid off, I travel 2 times a yr via plane save 15 percent in my 401k and have 15 k in savings. Ppl just want to follow what they see and hear on tv!!!
There was a time I saved a bunch of money buy getting just the kids meal at McD instead to grownup meal, so I thought lol. Well what I really.notice months later is that I had gained weight and dint connect the two until I emtied my trunk with all these mcd toys I had no use for! 😬 so thats where all the money went and the weight came. Hey I paid to gain weight!
This is good!! This is 85% of the country. I also have this issue that we are currently working on
I made my budget in excel, but would switch & pay for every dollar if y’all add the EveryDollar Year-End recap like Spotify. Great idea George😂
You can see your recap for the last 12 months at any time with Every Dollar Plus.
I have a rich friend. We joke about her Loius Vuitton bags. She's a very humble person and I never had to overspend to hang out with her. We both like doing the same things, so she was a budget-friendly friend.
I could watch you two always! You are my people! ♥️
You guys are very nice. I shared George’s information with my Arabic and Syrian community 😊 hope your getting a lot of views.
Haha that's awesome
I just shared this with my 2 young daughters 16 yr and 18 yr. I hope they listen.
At first glance I thought you were telling this to your two year old 😆. I thought man its good to start early but that might be a bit to soon! Lol
I love these two together 😂
I did that with Pampered Chef and I am still paying for it. Love you guys!
Love these tips! Thanks guys!
I am really struggling with this now! Thank you so much for this video. Had to watch it twice to motivate me to look at our lifestyle creep 😆
Same!!!
Lifestyle creep is SO real. Regrouping here lately to get my life (money!) back on track! We don’t need more “stuff” for heaven’s sake!
I have never been influenced by others and followed the sheep..I guess I've always naturally been a saver not a spender. I still treat myself but its very rarely as I would rather save for the future especially for our children.
So agree with social finances - really tough to find people that are where you are at - probably staying home like us!! 😊
We’ve never had delivery. Know that sounds really odd but we only do pickup and the odd occasion dine in which we don’t like to do as much due to added cost of tip. Honestly been cooking so much at home - a healthier chicken tikka masala with all the ingredients on sale at a deep discount and already in the pantry last night! Holla to our path to FI!!!
Careful with the take out. Alot of olacing have a paper on the entrance desk/order place stating that take has includes a mandated tip, even some at 20%!!) AND additional charge for the boxes/bags to go in!!
Omggg this totally called me out 🤦🏼♀️🤣 although I shop at TJ maxx, don’t die my hair, do my nails, get food delivery, I love a new car not gonna lie! Lol
I’d love to see a video on lifestyle creep with kids -what is necessary, expected vs not as you are growing a family, and what that has looked like for you all as you’ve become parents.
A raise? What's that? I only get raises when I change jobs. Otherwise it's just yearly inflation increases.
Thanks for sharing awesome tips! I'm financially free and currently growing a solid retirement plan. It takes a positive and consistency to learn new things, unlearn the old habits is important to get a mentor/coach to lead you all the way. It's great to start young too!
Hi, I'm 43 working on my retirement fund too. What do you think is the best target for retirement?
@chris malt personally i think 1m is the goal to overcome inflation and having them in an investment portfolio is a perfect plan. I'm half way to my goal
A lot of people find having a coach a luxury.
Grocery delivery is actually pretty good value in my opinion. It barely increases the overall cost and saves you at least 30 min. If you make $50k a year that's about $25/hr so you are in a way saving at least some money with such a service.
Only if you actually use that time to make more money.
@@alanj9978 perhaps. Or if it gives you more time to get other things done around the house thereby reducing stress levels. Is that not in some form a sense of payment?
@@jaredbills72 If you can afford it, sure. But it is in any sense a waste of money. I mean, I pay a housecleaner, so I have no room to talk, but it does leave me with less money at the end of the day.
@Alan J I also find it quite humorous that some common advice from Ramsey Solutions is to find a side hustle and perform duties such as grocery delivery or meal delivery. Yet their ideology discourages the use of those services. It's a two way street for those things and I find it hypocritical to encourage the provision of the service but discouragement of the purchase of the service. It's a two way street and you can't have people getting these side hustles without a clientele that is willing to use it.
@@jaredbills72 You're right, it's a two way street and it's more sensible to travel on one side than the other. Calling it hypocritical is like blaming a rock star for not buying tickets to concerts.
There's something that never really gets brought up with lifestyle creep - cutting back on what's crept in SUCKS. It can be done, but once you've adapted to the nicer lifestyle, your old lifestyle seems hard
Rachel, Are you wearing a sweater from Walmart? i have a very similar one in red that I got from Walmart and it feels/looks like something from White House Black Market for a fraction of cost!
Where can we find a clip of that video they played? I’d like to send to my 20yr-ish old kids!
“It’s a special occasion” and “it’s on sale” are pretty dangerous, too.
George Kamel is stealing my paycheck. Got it.
I LOVE these two so much!!!!
How mutch does it coast to Be your friend? Do I have to send a lot of money on expensive dinners, cars or image? So it is a great idee to have tell your friends about your goal😍 Thanks for sharing great tips 🙌 lots og love from arctic Norrway at -22.5 🙌🌼🌹🌻🌺🏵
Idea: if we have money left over in a month’s budget, we add it up and add it to savings.
The problem for many is that if they wait to save until the end of the month, they have no money left to save.
Simple don't finance the stuff you think you deserve
George--I dare you! LOL "Oh is that a credit card? You're gonna be paying for that next month..." Ha ha!!
Careful in this day and age. He might get a lawsuit for harassment! 😲
I skipped the ad
Great vid , but @ 14:42 Who gets a $10,000 raise??
Can we see you and Winston's color coded category sheet minus your amounts
Great video, definitely decided to get Taco Bell after watching it though 🤣🤦🏻♀️ 🤷🏻♀️
Rachel you need to spend money on a new pair of pants......HaHaHa
Oh yea my lifestyle creeped up real fast
Samantha Mumba 😂😂💀💀
You to make me happy!
So when do you call it lifestyle style creep or just that can afford more and you spend more within your means.
I didn’t catch the app you use to track from year to year. Can you please share that?
EveryDollar app which is a product the Ramsey team created
Every dollar. It’s the app by Dave Ramsey
10:28
Pizza is sky high too, George.
@@thegreatcoward Maybe in Tennessee it is cheap.
Does giving always have to be monetary, or can it be providing a service for free, or simply giving someone some helpful advice?
For sure!! Giving can involve being generous with anything we have to offer, and the most valuable is our time. Being there for others or providing a service for free is definitely giving. 👍🏾
Remember the marketing genius of "You DESERVE a break today!" ? McDonald's can be credited with starting this entitlement mentality in the early 80s. Along with higher obesity rates.
I appreciate the knowledge you've provided, There’s this woman I got in touch with during the last economic recession which cost me my job. Ms. Norman Davis helped me manage my assets by introducing my to the best trading method, I earned a lot of $$$ working with Norman at the comfort of my home. I still keep in touch with the amazing lady
Most family are struggling to survive. meeting Ms Davina Norman has brought me great success. Even with the economy situation I'm still sure of my $15,000 weekly
Hi there, I’m commenting from Switzerland . Interesting to know she connects with people from different parts of the world. Such an ambitious woman. I got in touch with Ms. Davis early this year. As a newbie in the market, I had little knowledge on predicting the stock market, but with Ms. Norman weekly analysis and advise profits are guaranteed! I received three times my initial deposit in a week!!
I want to be financially free , I currently work 2 9-5 jobs and I’m struggling to pay bills along with my moms medical bills. I heard about forex a little while ago and was really interested and wanted to get into for the longest but I never had someone who could help. Can I get her contact? I need her assistance
How can I reach Davina does she have a telegram page??
Yes, she does and is very accessible with the username..........
I agree with what they are saying about lifestyle creep. However, if they aren't going to order door dash or uber eats, they should probably stop suggesting their listeners use them as supplemental income.
What is wrong with working at a place that you don't patron?
For someone who has the money, or someone who is ill or hurt and can't leave the house - using a delivery service can be a good idea. When I had a broken shoulder and wrist, I couldn't drive, had difficulty cooking (ever tried peeing cutting a vegetable with one hand? or opening a jar or can with one hand?), I would have liked to have a delivery service at that point.
Use your brain They are talking about excessive use of the service. Just because they may encourage someone to work fast food for quick, low commitment income doesn't mean they'd tell them to eat there all the dang time
I went from 35$ an hr to 70$ an hr. All cars paid no debt. Inflation with kids is sketch. Food and energy is completely insane. My 35 an hr 5 years ago doesn't feel that much less than 70 an hr now
Do you do a voice in the cartoon clifford?
I love how he hates delivery services but then the first thing they tell people is to drive for Uber to make more money 😂
Oops…two
Ouch the dog comment hit hard. I spend an outrageous amount monthly on my one year old GSD
The gym isn’t a convenience lol
Yes it is. You can work out at home
@@capturedbyannamarie if I spent thousands and thousands 😂
@@lindseye2750 it’s called working out with your body. You don’t need weights. Just do push ups, sit ups, run outside. My husband is very muscular and he just works out at home. No gym. It’s a lie that you need to go to the gym or even have a gym to be fit.
@@capturedbyannamariesimple excerises aren’t always doable, multiple chest/ back surgeries and I’m not allowed to do most of that & it’s winter snowing here so being outside isn’t safe either, be happy for your husband that it’s doable but don’t judge those of us who need our gyms to be muscular and healthy
How is it possible to spend $400 at Taco Bell? It's a bargain, especially if you use the app and rewards. I usually get the chips and cheese and dip my entree in the leftover cheese. Yum!
The same way a game in the app store is $1.99 that can easily turn into spending $200. The least expensive things can add up quickly and turn into a big expense that can cost you.
If you go once or twice a week.
@@thealexandraway hey I remember you from live chat on ramsey show the other day!
15 dollar meal for lunch 5 days a week all month is almost 400!
Rachel can't afford to get her jeans fixed apparently.
I agree with this but I help but find the irony in telling people don’t waste money on memberships while selling people memberships
Maybe that's why I don't have friends lol
LMAF!
Robin was always punched around until Batman showed up... Just saying!
UMMM... Why does George have a voice though? Okay Ge-orage! I see you
Taco bell --- order the online existing, much better deal.
Get out of debt so you can "live and give like no one else" !
Nice video! 2020 was a rough year for me as I lost my job as a college teacher due to the pandemic. I got introduced to Ms, Gardner, I opened up about challenges I was facing here in Norway, during my time working with her, I was able generate weekly returns on my investment in the money market. We still keep in touch, such an amazing lady.
Compound interest is the eighth wonder of the world. He who understands it, earns it; he who doesn't, pays it” I have been working with Rose Gardner before, look her up to guide you on that. You need an expert guide.
2020 was a rough year for me as I lost my job as a college teacher due to the pandemic. I got introduced to Ms, Gardner, I opened up about challenges I was facing here in Norway, during my time working with her, I was able generate weekly returns on my investment.
I was skeptical at first meeting someone online this days carries enough risk, there's a site she introduced me too, and I got the white paper of the work, In over a month, I was able to tripple my portfolio , she's been a mentor and friend
thanks for this everybody forgets to drop how to reach her, I am in need of assistance, I hold coin almost 2 years now and I still drive same car, my neighbour has a broker and is moving out this month, I can't continue this way
@ROSEGARDNERBIS
So don’t waste money on convenience products, but definitely use your sponsored Zander insurance so they can conveniently shop for insurance rate’s instead of us just finding decent rates ourselves? Got it.
Speaking of lifestyle creep, how packed is your closet,
Rachel? How many different tops do you have?
I guess the talks with the Minimalists didn’t affect your closet!
No 333 challenge for you, eh?
It went to buy 🥚
if people didn't deserve to spend money that they earned, then how would anyone else get wealthy? The fact is, the economy is a big ponzi scheme that needs lots of people to put money into the system (spend) for the few of us to take out more money (add to our wealth).🤣 lifestyle creap = George's built in obsolescene apple watch, or rachel's more expensive holed jeans compared to no holed jeans.
Who’s the tik tok girl?
I’m surprised George is still married!
You two are great together.
The tik tok was weirdly unnerving.
I came here because of the thumbnail
@@thegreatcoward love the work you’re doing. Keep it up my man
Rachel, I love your show. But as a doctor your fast food choice is killing me. Financially you could be saving money by eating at Taco Bell, but not if you end up with a $2K ED visit from getting sick. Risk/ Reward here. Doesn’t your mom make kale smoothies? Safer choice for long term investment in your health! Keep up the great content.
He is creepy 😂