I grew up poor with food stamp sources of food supply. My sibling, and I saw how my parents treated money with no savings. They never taught us how to save. We all go to community college and transfer to state schools while working part-time. We learned the concept of stocks, bonds, and savings from community collage. Fast forward now. We broke the cycle of poverty. We live half from our income, and the rest goes to investment. with no debt, house paid off, and we are in our late 30's .
I can relate, a mother who was always in debt and spent to be happy and still wasn't happy. I'm spent up till mid 30s being crap with money and then relearned everything via frugal living and RUclips videos. All those people saying I can't learn is bullshit. The information is everywhere..
It doesn’t matter what you say, people will always have a problem with it. Especially when you start talking about taking responsibility for your actions/ decisions.
2:24 Don't forget: cooking at home is generally healthier. You know what you put into your food. Restaurants and prepared meals usually use a lot of butter, salt, etc. How come everyone is health conscious with gyms, yoga, etc. except when it comes to food? Like putting salt water in your gas tank but waxing it every weekend.
Today I bulk prepped breakfast sausage patties and chicken nuggets that I made 100% from scratch with some fresh meat, seasonings, and my food processor. It’s good knowing that my kids will be eating the food they love without the added ingredients! And it costs less overall after the initial investment of buying the seasoning
That's true to a degree, but we have to figure out what is in some of the meat and other things we buy too. ; ) I did lose weight more eating the same foods home since mine didn't have the same additives and salt and sugar.
We did a 15 year mortgage as advised by my in-laws. We saved, waited and put more down, compromised what type of house we still live in (1800 sq feet not 3000+ sq ft). But, in our early 40's it was paid for. It's a fantastic feeling. We got picked on by family members, don't care. It was a great feeling as our kids were graduating to not have a mortgage, so we could help with college. Now we focus on retirement savings and fun projects inside and outside the house all with CASH. Rock on George!!! People gonna hate and whine.
What state do you live in? I am in CA and there is no way we would want to do 15 years on our mortgages instead of 30 (we also have kids). The mortgage on our primary residence is $2,630 a month (not including property tax and insurance). Double that? No, thank you.
@@kariforgie457 Regardless, we absolutely don't want to be obligated to rush and pay off 2.99% and 3% interest rates. If it works for someone else, then great. They obviously don't live in my expensive county in CA, don't have high property taxes, don't have kids to take care of and raise etc.
My last wheels cost $3000. Six years later it's still worth $1000. No loan. Repair expenses so far about $500 total (alternator and 2 tires). Cost of ownership for me is $417/year or $34.75/month. Take that car payment!!!! I only insure for liability which is $30/month. I have no plans to trade up. I'm going to drive till it can't go no more, then find a cliff to push it off. I have this superpower called being 75 years old and no women to spend $$ on. My net worth is about $500K and growing. I cook everything I eat also. My total budget is less than $800/month and I haven't spent all of it yet.
Yeah. It's tough to find a cheap set of wheels but it can be done with some looking around. My current daily driver cost 200 bucks (yes, 200 bucks). A 25-year old pickup I bought out of a guy's back yard. I did have to do some fixin' on it but all in I'm still less than 2000 bucks and I've been driving it for three years.
Can’t agree more with everything. I meal prep to save money. My husband travels for work and he complained about feeling horrible eating out, so I make meals and keep them in the freezer. He takes a cooler with him and goes shopping in the freezer to decide on what meals he wants for the week. Saves A TON of money!
One excuse for not buying used cars is they’ll need repairs. No $10,000 car will cost you as much to repair as the depreciation on a new car. You could replace the engine and transmission for less than the first year’s depreciation. People scoffed when my brother bought a 100k-mile Camry, but he drove it another 150k miles.
I would die if I ever spent that much on a vehicle. The most I've ever spent on a vehicle is $1500, the last one I bought I got for $700. I own 4 vehicles, and I have never sold one.
With all these people and their "life hacks", they seem to totally overlook the hack of becoming knowledgeable in automotive stuff. Then driving $700 clunkers saves them a LOT of money.
When I was in my twenties, I was so poor. Investing advice seemed like a cruel joke when Wells Fargo was fining me $35 per transaction that I was over on my bank account. That comedy bit about being poor by Lewis CK really resonates with me. But now that I’m more advanced in my career and I bought a house when they were still cheap, I’m finally able to save and invest. I’m even excited about it because I’m seeing my investments grow. I just hope I’m not too late.
The only thing I have an issue with is the 25% of your income & 15 year mortgage. It really is highly dependent on your job opportunities + income vs. where you live. And the ditching credit cards.
I mostly agree. But I do sympathize with those complaining about cost of living. I live very frugally and there’s no way I’d have a house if I didn’t buy one before prices doubled. And I have a good income.
My husband and I were skeptics when we first found the DR ideology. Two years married and we kept our accounts separate, paid “our own” debts and sent each other money for bills. After a few weeks of watching these channels I genuinely saw the light! We’ve combined accounts, cashed out our smaller investments and side accounts we had all over and started tackling debt. We now have 0 CC debt and 0 car payments. Working on a personal loan and student loans next. People want to hate instead of doing the hard work!!!
I never understood the "You can eat out cheaper than you can cook" argument. Like by definition for the restaurant to make any kind of money whatsoever the food has to be more expensive than what you can buy the ingredients for
Probably bcuz they can't cook or too lazy and they probably do need that excuse. It's sad. There are so many easy and cheap things to make our there @@samanthat7553
That excuse only works for people that have never been taught to shop for groceries, or to keep a well-stocked pantry, or to cook. Their parents let them down (probably because their parents were too busy being terrible at life).
Right! Makes no sense! Are people that stupid they think restaurants can run without making a profit? Do they not get the restaurant also has to buy the same food at a higher cost? It clearly shows people don’t know how to cook anymore
Four years into a 15-year mortgage at 2.375% and I couldn't be happier. I'll have my primary residence paid off by the time I'm 46 and then we're 100% debt free.
I'm 3 years into a 30 but once I'm done with baby step 2 (3 weeks!), I'm gonna make payments to my mortgage to make it a 15 year. Instead of refinancing and losing my low interest rate (2.875)
@@Snesboy09 This retired MBA says if it was me, I would invest the extra money that you're planning on using to pay down your mortgage balance. I would max out my 401K and then fund a Roth, an HSA, and/or a 529 for students in the household. If there's still extra money, I would invest that in a taxable index fund. I've never made accelerated mortgage payments because you don't receive any compounding on your home equity, and those extra payments won't help your cashflow until the day that your mortgage is completely paid off, which could be years, or never.
@DaveM-FFB Wrong!! Pay off the house fast, then you'll have lots more money to invest. The key is to pay off the house fast and not drag it out. The longer you drag it out, the more money you will lose.
For fun, get your calculator and see how much you will save in 1 year, 10 years, 50 years. Most people pay close attention to their big purchases but let the small money slide through their fingers which adds up big over time.
My family was able to butcher a cow and I got a ton of meat for like 3-4 bucks a pound. Been living off that for months, cheap pasta, burger meat, steaks!
I took out a car loan for my first car. I put half of my net income into paying off that 12% interest rate. I made 3 payments per month for 18 months and the car was paid off. Then I had an extra 823/month to put into the next car which I purchased 12 years later. During that investment time, I put away $98K into investments then I paid ~$19,500 for my next new car. That car lasted 11 years and I invested another $108K, before buying my next car for ~33,000. That was 12 years ago and I am planning on buying another ~33K car as soon as this one breaks. Yes, I do average about 12% per year investing in the S&P500 fund.
I am 65 now and we were taught in school that housing should be no more than 25% of your income. I do know today that would be quite difficult in most parts of this country, but doable in other parts of the country.
That's still the standard advice. Def hard to do a lot of places now so some people will stretch it to say 30 or even 40% is OK, but it makes the other parts of those budgets VERY hard to live within
😂 I moved to my new to me home and had no decorations at all. Got free paintings and wall art after the neighbor across the street passed away. Just started sprucing up the landscaping and got 10 bags of $2 mulch. Used some free landscaping lights that needed new batteries. Just gotta pick your battles. I want a new garage installed by the end of the year do I'm saving every penny i can 😂
You are spot on with every topic discussed but a lot times the lack of knowledge application and discipline are the main reasons we don’t achieve most goals. Great video
Solid. Cover. George. I have seen the tele on the wall behind you, and thought..."nah." I was wrong. Fun fact, every time I heard "Laurel Road" I immediately started singing "Country Road" in my head.
the people who complain about your advice are lazy, entitled, and want instant results. ignore them. they want things handed to them. they dont want to work for things. they think by merely existing, they deserve things.
Same kinds of people are protesting on college campuses while they rack up $100k in student loan debt then tomorrow are whining for debt forgiveness. We live in an age when math and facts and reasonable thinking are hated.
I followed the 25% payment advice when I bought my new-to-me home in 2022. Home was $160k and I had saved $60k to put down. Been paying an extra 1/2 payment each month and I'm 2 years in. Home will be paid off in around 6 years or so. No other debt and I have a 6 - 8 month emergency fund. I've saved up enough now to start construction on a 2 car garage, and paying in cash. These babby steps are awesome 🎉
It shows how detached from the truth Americans have become that they actually believe it’s cheaper to pay someone to cook for you, than to cook for yourself.
I think most want convenience and if you live alone or have long days, want food you don't have to cook. That's why the (awful to me) food delivery services like Home Chef etc became popular. I like a salad but for one day. I'm not eating greens 3 days sitting in fridge and I know that about myself. Grabbing a 6.00 salad with all the trimmings is cheaper than wasting food. Americans throw out so much food trying to "save money".
@@deb9806I live alone. I hate to cook so I focus on making food that freezes well. I double batch and freeze in portions. Example: pasta (undercook by 2 minutes, drain, put into ziplock), ground beef brown and crumble put in 1 ziplock and freeze use for pizza toppings, tacos, spaghetti sauce, bbq beef, etc. I basically cook for 1 week and eat off frozen portions the rest of the week. Sounds like a lot of work but it's easy and faster than drive thru. Key is a menu. I take last night's planned leftovers for lunch next day. My emergency meal is an omelette. I also Keep shredded cheese in my freezer.I spend $60/week on food, mainly because I love Asian food which can be cheap and fast to make.
@@happycook6737 yes my daughter actually said "you have to learn to freeze more" but I never think it tastes as good. I will try though . I never do fast food but like deli's in my area. Some Italian ones will make portions to grab and go or have 2cutlets you can buy but again, it's going to be more money than buying them and freezing some. My mom did what you did as a widow and it worked but she also had to toss things that she kept for too long.
When the vast majority of the masses tell you that you're doing something wrong and your gut tells you that you're not hurting anyone, then that's when you know you're truly doing something right with your life
At 22, I started putting 10% of my $7.25/hr wage into my 401k. As I made more through the years I upped it by a percent or two until I reached the max annual contribution. Today, a few months from my 50th birthday, my 401k is in the very high 6 figures.
The people who hate your advice don’t have self discipline--similar to our friends when we were doing BS 2: “good for you guys but I know I couldn’t do it….” At least they admitted it!
"You can decide to have this thing called hoped instead of this thing called cynicism." That was a great reminder from George that we don't need to wallow in self-pity, as it doesn't get us anywhere.
Thankfully, I'm one of those rare birds who cooks better than what I can find in restaurants. If it weren't for my feet limiting how long I can stand, I'd probably have my own restaurant or food truck. As it is, my family eats better dining in than my neighbors do eating out, all while saving money and exercising my creativity.
They expect everything to happen right now...with time the rewards will come. Yes prices now are bonkers but if we are intentional and strategic with our money, we will be fine
I just turned 23, I have 15k in my TSP. Moved into my 2nd house granted it's on a 30 year mortage. But it's small and doesn't kill me month to month. I'm proud of where I am only making 60k a year with no college degree working for tbe government. I have 2 kids they were a big wake up call and I've built all of this within 3 years.
My wife and I went out to a homemade Italian restaurant (homemade noodles etc..) she got soup, lasagna and cake. I got soup chicken Parm and cannoli. The bill was $78 I almost choked. We haven't been out to eat like this since COVID. We will do Mexican food and that's under 20.00 for both of us once in a blue moon. It's way to expensive to eat out.
I started with a 30 year mortgage, but after three years, I turned it into a 15 year and two years later, I turned it into a ten-year period and I paid it off six years after that. The idea of a 30 year mortgage stressed me out so bad.
When i heard you talking about the fact that once you are ‘off the clock’ your time is worth nothing, it reminded me of a micro economics concept, called ‘ opportunity cost’, which considered the best alternative use of scarce resources, be they time, money, etc. If cooking at home is cheaper than eating out or ordering a delivery, when the extra effort to cook will impact you negatively, then it is the best choice. Ordering doordash, might save you effort, but are you earning in the time you save?
Im not sure why people think eating out...with the same overpriced food costs + labor + overhead....is cheaper than just buying the ingredients. Based on what I've seen people just suck at cooking these days.
I asked my cousin one time what was for supper. She said lasagna. I said homemaid she said yes we bought it and took it home and baked it in the oven. She thought that meant homemaid
I suck at cooking as well... but I cook for myself and meal-prep. If it doesn't turn out so good, i eat it and on top i have someone to blame --> Myelf! 😁
People come up with all kinds of excuse to be poor. Stop eating out, drive a 10 year old car, don't buy coffee, blah, blah blah. But you know the one thing people refuse to do? Make more money. If you have to forgo life to save money, you are in denial about your income. And living like shit to save isn't the same thing as being wealthy. You go to to both. Live and invest. And now I'm going to piss off 80% of you. Here it goes. 100k a year isn't middle class. So, stop making excuses and go make more money. You only live once. I think I'll dine out tonight.
Reading "hate" comments is a fun part of having a RUclips channel, in my opinion. It means people are passionate about the topics you cover. I think you should make the "I Triggered People..." a recurring topic. I bet you'll get a lot of views and some laughs. 😀
The bit about food prices are true. My wife and I gathered the actual cost of the ingredients we use in all the meals make on the regular. They ranged from about $4 (for an instant pot macaroni) to about $22 (for French dip slider), with most around $8, and that's for the whole meal for a family of 4, and many of those leave leftovers. Our conclusion was that the only place you can eat out and not lose huge is at Costco/Sams's Club, and that's only 'cause they take a loss on the food since it's part of marketing.
My 17 year old has $20k in her bank account. No gifts, no inheritance, all money came from her part-time job paychecks. Stop spending every penny you get and you can invest $10k at age 22.
I’m 17 and bought my a $9000 car in cash. Also have another $10,000:) I’ve not been given any of that!! I work full time and do school online simultaneously:) No excuses you just have to do it😃😃
My 17 yr old has almost $15k in her bank account waiting for her to buy a car this summer. My 19 yr old has over $15k, and drives a car he paid $8k for 2 years ago, and just finished his first year of college that he cash funded & had scholarships. My 21 yr old has $8k, also drives a car he paid $8k for 2 years ago, and is almost finished with an associates degree that he has cash funded. It's possible to have $10k to invest at 22 yrs. It just requires you to WORK and be self-disciplined with your spending. Two things that many people don't want to do today.
Hey George loving the vids. Given that it’s grad season and some people tend to travel, would love a vid on travel trips for saving money for recent graduates like me. I’m currently traveling Europe and have been buying sandwich supplies from grocery stores for my lunches and can definitely confirm it’s cheaper than eating out.
Hmm, I leased a car before(back when I didn't know better), it's interesting that person says they do not pay for any repair or maintenance, because that was definitely not my experience with leasing. In fact I paid for everything.
We got a 30 year fixed rate mortgage with the intention of paying it off early. The goal being 18 years, ie when our daughter was college age. So whenever we had extra money we made extra payments. Paid it off in just over 16 years, but had that freedom to control when we paid more and when the budget was a little tight we just made the normal payments. That might not work for most people, but worked for us. You do save on the interest rate on a 15 year mortgage, but it is a higher monthly payment.
Leasing a car over 20 years: Average payment in 2022 was $540/month or $6,480/year. At 20 years, he’s paid just shy of $130,000 on a car. Alternatively, purchasing a used $30,000 car once every 10 years: $60,000 over 20 years. He’s spent $70k MORE than buying used in 20 years and that’s BEFORE over-mileage penalties paid every 3 years. $70k invested in a growth stock mutual fund over 20 years, contributing $291/month will be worth $209,000 at the start of year 21. His choice to lease cars rather than purchase used had an opportunity cost of $209k. People who lease cars are fools.
Same here...unfortunately, my hubby and I can eat an entire package of bacon for Sunday brunch!! Since we only eat bacon on Sundays, I buy 4 pkgs/month and freeze them.
7:00 if leasing wasn't a win for the dealership they wouldn't offer it. The seller of the lease would literally want to have it cost more then depreciation or it's not worth it to offer.
ALL the young teachers that work with me SWEAR eating out is cheaper! Even when I show them an easy menu plan they refuse to believe. They think discounts on restaurant apps are a good deal. They also can't cook! Sigh.
I don't think anyone really does think this. Pretty sure they just cherry pick out a couple comments for this example to get everyone on their side and shield from all the other absurd takes they are trying to defend
I get it to some extent, especially if you can work the extra hour and get paid more instead of spending that time on cooking. But this applies only to mid-day lunches, not evening dining.
Honestly, cooking at home for us is so much more enjoyable! For one, i can drink as much alcohol as i want and cook! No worrying about having to drive home drunk. Plus, grilling is just a good ol pastime.
coffee in kureg at work about 30 cents a cup well i use the cups twice though cause why waste coffee if i add creamer and splenda closer to 40 cents coffe shop in my town same coffee 3-8 bucks depending were you buy it.
the only thing that upsets me about the Ramsey advice is that they pretend like theres a bunch of dirt cheap townhomes within an hour drive for everyone. There isnt a single townhouse within 4 hours of where I live that will be
I have taught all my children how to cook from a young age, very good parenting advice. They save so much money from eating at home. Fast food is pure garbage and restaurant quality has gone way down.
Mom taught me in the early 80s how the sink, stove and dishwasher worked. She had us trained 😂 for when she beeped the horn we had to bring in the groceries 😏 Worked food service for 20 years, I never eat out unless we are on a trip.
Having a 15 year fixed-rate mortgage is going to make it a high mortgage payment and to expect that to be only 25% of your monthly income means you’re either making a lot of money or you’re getting a very small, poorly located home
I’m 17 and bought my a $9000 car in cash. Also have another $10,000:) I’ve not been given any of that!! I work full time and do school online simultaneously:) No excuses if I can do it you can to Love the advice George😃😃
I’ve learned an awful lot from you, so I just don’t even worry about it if I don’t happen to agree with something you’re saying. You’re just so darn entertaining it doesn’t even matter!
I agree in principle with 25% for housing but assuming you took home 50k after taxes that is only 12.5k per year for housing. Assuming a 7% interest rate that is a 180k mortgage, the median home value in my area is 400k. The math just doesn't work. With the current interest rates and housing prices. The younger generation will just be permanent renters.
I agree with you. I generally like his content. I agree that it's a lot less stressful if your mortgage is only 25 percent of your income on a 15 yr note. With the price of real estate and the median income, that's just not a reality for many.
That’s why most households need two incomes. Also, you might start at 35% of your take home pay but it improves with time as you get raises. We started there and got to 23% after five years.
what you are really saying is your aren't willing to buy a lesser home. I an in NJ and can find properties less than $200k. Are they in areas that I love? no. But I can afford them at 15 year mortg. etc. You have two choices. Make more money or buy less home. You aren't titled to get what you want for doing less.
Get roommates ir live with family if possible. I moved back in with my parents (returning from out of state move) for 1 year at age 34. I saved $70k for a down payment.
Woah woah woah...woah. You're NOT eating the entire pack of bacon in one sitting? Who are you people? Haha - being able to cook a meal from basic fresh ingredients is my food budgeting superpower - learn to cook Its amazing.
Focusing on basic ingredients and simple assemblages of food rather than recipes per se is reducing waste and my spending at the grocery store. It’s mainly been driven by dietary changes overall (which had been pretty good).
![BLACK BAG - Official Trailer [HD] - Only in Theaters March 14](http://i.ytimg.com/vi/Du0Xp8WX_7I/mqdefault.jpg)
I grew up poor with food stamp sources of food supply. My sibling, and I saw how my parents treated money with no savings. They never taught us how to save. We all go to community college and transfer to state schools while working part-time. We learned the concept of stocks, bonds, and savings from community collage. Fast forward now. We broke the cycle of poverty. We live half from our income, and the rest goes to investment. with no debt, house paid off, and we are in our late 30's .
Great job 👏!!!
Determination to be different from what life offered you is what leads to your success. Nice!
I can relate, a mother who was always in debt and spent to be happy and still wasn't happy. I'm spent up till mid 30s being crap with money and then relearned everything via frugal living and RUclips videos. All those people saying I can't learn is bullshit. The information is everywhere..
I didn’t know you could sing 😭 you literally had me watch an ad read because it was so damn entertaining! THAT’S how you do an ad read!! 👏🏼👏🏼👏🏼
Agreed, they should have paid him more for that banger
It doesn’t matter what you say, people will always have a problem with it. Especially when you start talking about taking responsibility for your actions/ decisions.
The real reason people don't think cooking at home is worth it is that they don't know how. Spent $10 and 20 minutes on dinner for 4 last night.
Exactly or people think they need to eat "exotic" food.
2:24
Don't forget: cooking at home is generally healthier. You know what you put into your food. Restaurants and prepared meals usually use a lot of butter, salt, etc. How come everyone is health conscious with gyms, yoga, etc. except when it comes to food? Like putting salt water in your gas tank but waxing it every weekend.
Yep. Unless you're intentionally eating garbage at home, eating at home is much cheaper and healthier.
Salt and butter on a steak. Yum!
Today I bulk prepped breakfast sausage patties and chicken nuggets that I made 100% from scratch with some fresh meat, seasonings, and my food processor. It’s good knowing that my kids will be eating the food they love without the added ingredients! And it costs less overall after the initial investment of buying the seasoning
That's true to a degree, but we have to figure out what is in some of the meat and other things we buy too. ; ) I did lose weight more eating the same foods home since mine didn't have the same additives and salt and sugar.
George!! I didn't know you could sing so well!! ❤❤❤
We did a 15 year mortgage as advised by my in-laws. We saved, waited and put more down, compromised what type of house we still live in (1800 sq feet not 3000+ sq ft). But, in our early 40's it was paid for. It's a fantastic feeling. We got picked on by family members, don't care. It was a great feeling as our kids were graduating to not have a mortgage, so we could help with college. Now we focus on retirement savings and fun projects inside and outside the house all with CASH. Rock on George!!! People gonna hate and whine.
1800 sq feet is a nice sized house in Florida. I guess in other areas, it's teeny. Congratulations on getting ahead despite peer pressure!
What state do you live in? I am in CA and there is no way we would want to do 15 years on our mortgages instead of 30 (we also have kids). The mortgage on our primary residence is $2,630 a month (not including property tax and insurance). Double that? No, thank you.
@IrisP989 it doesn't double by taking a 15 year mortgage. You pay less interest and pay for off principle faster 😂
@@kariforgie457 Regardless, we absolutely don't want to be obligated to rush and pay off 2.99% and 3% interest rates. If it works for someone else, then great. They obviously don't live in my expensive county in CA, don't have high property taxes, don't have kids to take care of and raise etc.
“You’re not eating the entire pack of bacon in one meal.”
Challenge accepted.
😂
😂😢😅😊love it
Who doesn’t eat the whole pack of bacon in one meal
@@benb6691LOL
Yes I am!
My last wheels cost $3000. Six years later it's still worth $1000. No loan. Repair expenses so far about $500 total (alternator and 2 tires). Cost of ownership for me is $417/year or $34.75/month. Take that car payment!!!! I only insure for liability which is $30/month. I have no plans to trade up. I'm going to drive till it can't go no more, then find a cliff to push it off. I have this superpower called being 75 years old and no women to spend $$ on. My net worth is about $500K and growing. I cook everything I eat also. My total budget is less than $800/month and I haven't spent all of it yet.
Yeah. It's tough to find a cheap set of wheels but it can be done with some looking around.
My current daily driver cost 200 bucks (yes, 200 bucks). A 25-year old pickup I bought out of a guy's back yard. I did have to do some fixin' on it but all in I'm still less than 2000 bucks and I've been driving it for three years.
Hmmm, you just gave me an idea to remove full coverage on my 9 1/2 yr old paid off car and just get PIP (required in FL) and liability. 👍🏼
Can’t agree more with everything. I meal prep to save money. My husband travels for work and he complained about feeling horrible eating out, so I make meals and keep them in the freezer. He takes a cooler with him and goes shopping in the freezer to decide on what meals he wants for the week. Saves A TON of money!
One excuse for not buying used cars is they’ll need repairs. No $10,000 car will cost you as much to repair as the depreciation on a new car. You could replace the engine and transmission for less than the first year’s depreciation. People scoffed when my brother bought a 100k-mile Camry, but he drove it another 150k miles.
Aldi had bacon on sale for $4/lb last week and it's 9.50 for 2 pounds at publix right now, no thrift store needed!
My favorites are the "I'm going to die if I buy a $5000 car" people. Wahhh.
What would they say if they bought a $500 car? I must be a cat because I would need to have 9 lives with my jalopies.
I would die if I ever spent that much on a vehicle. The most I've ever spent on a vehicle is $1500, the last one I bought I got for $700. I own 4 vehicles, and I have never sold one.
"But I need a reliable car!"
With all these people and their "life hacks", they seem to totally overlook the hack of becoming knowledgeable in automotive stuff. Then driving $700 clunkers saves them a LOT of money.
Til the wheels fall off!
When I was in my twenties, I was so poor. Investing advice seemed like a cruel joke when Wells Fargo was fining me $35 per transaction that I was over on my bank account. That comedy bit about being poor by Lewis CK really resonates with me. But now that I’m more advanced in my career and I bought a house when they were still cheap, I’m finally able to save and invest. I’m even excited about it because I’m seeing my investments grow. I just hope I’m not too late.
It's never too late to get on the right track!! Just keep moving forward.
The only thing I have an issue with is the 25% of your income & 15 year mortgage. It really is highly dependent on your job opportunities + income vs. where you live.
And the ditching credit cards.
That advise is designed to keep people renting for most of their life. Ramsey has a large rental portfolio.
I mostly agree. But I do sympathize with those complaining about cost of living. I live very frugally and there’s no way I’d have a house if I didn’t buy one before prices doubled. And I have a good income.
I think George underestimates my willingness to eat an entire pack of bacon. Still sound financial advice regardless.
😂😂
Calls in to the show. "I'm in crippling debt cause of bacon." 😂
I think I can eat half the pack right😊
🤣 best comment! 😆
My husband and I were skeptics when we first found the DR ideology. Two years married and we kept our accounts separate, paid “our own” debts and sent each other money for bills. After a few weeks of watching these channels I genuinely saw the light! We’ve combined accounts, cashed out our smaller investments and side accounts we had all over and started tackling debt. We now have 0 CC debt and 0 car payments. Working on a personal loan and student loans next. People want to hate instead of doing the hard work!!!
Truth
WAY TO GO!!
Combining with my partner has been so good for our relarionship! Simplifies everything, opens communication etc. We are a real team now.
I never understood the "You can eat out cheaper than you can cook" argument. Like by definition for the restaurant to make any kind of money whatsoever the food has to be more expensive than what you can buy the ingredients for
It's just people's excuse to justify the convenience of eating out.
Probably bcuz they can't cook or too lazy and they probably do need that excuse. It's sad. There are so many easy and cheap things to make our there @@samanthat7553
That excuse only works for people that have never been taught to shop for groceries, or to keep a well-stocked pantry, or to cook. Their parents let them down (probably because their parents were too busy being terrible at life).
Stop the logic
Right! Makes no sense! Are people that stupid they think restaurants can run without making a profit? Do they not get the restaurant also has to buy the same food at a higher cost? It clearly shows people don’t know how to cook anymore
Four years into a 15-year mortgage at 2.375% and I couldn't be happier. I'll have my primary residence paid off by the time I'm 46 and then we're 100% debt free.
I'm 3 years into a 30 but once I'm done with baby step 2 (3 weeks!), I'm gonna make payments to my mortgage to make it a 15 year. Instead of refinancing and losing my low interest rate (2.875)
How's retirement looking?
This is the way to do it :)
@@Snesboy09 This retired MBA says if it was me, I would invest the extra money that you're planning on using to pay down your mortgage balance. I would max out my 401K and then fund a Roth, an HSA, and/or a 529 for students in the household. If there's still extra money, I would invest that in a taxable index fund. I've never made accelerated mortgage payments because you don't receive any compounding on your home equity, and those extra payments won't help your cashflow until the day that your mortgage is completely paid off, which could be years, or never.
@DaveM-FFB Wrong!! Pay off the house fast, then you'll have lots more money to invest. The key is to pay off the house fast and not drag it out. The longer you drag it out, the more money you will lose.
Ever since downloading every dollar and watching more Ramsey content my husband and I have cut back a lot in n eating out or picking up coffees.
For fun, get your calculator and see how much you will save in 1 year, 10 years, 50 years. Most people pay close attention to their big purchases but let the small money slide through their fingers which adds up big over time.
Pasta at a restaurant: $17
Pasta at home $2
Banzaa pasta is my favorite. No bloat from the chickpeas. High protein as well
My family was able to butcher a cow and I got a ton of meat for like 3-4 bucks a pound. Been living off that for months, cheap pasta, burger meat, steaks!
Facts
A box of Barilla spaghetti cost me $6 the hell you talking about?
@@15KHPCLUB USD? Amazon has 4 boxes of penne and 4 boxes of spaghetti for $10.18. So $1.27 per pound.
Thanks for the elaborations, George! People need to stop being victims and do the stuff.
I took out a car loan for my first car. I put half of my net income into paying off that 12% interest rate. I made 3 payments per month for 18 months and the car was paid off. Then I had an extra 823/month to put into the next car which I purchased 12 years later. During that investment time, I put away $98K into investments then I paid ~$19,500 for my next new car. That car lasted 11 years and I invested another $108K, before buying my next car for ~33,000. That was 12 years ago and I am planning on buying another ~33K car as soon as this one breaks. Yes, I do average about 12% per year investing in the S&P500 fund.
George, I'm glad there are level-headed, common Sense investment teachers like yourself and Dave out there. You teach in a fun way too!
Laurel Road just increased this week to 5.15%. Love it!
I am 65 now and we were taught in school that housing should be no more than 25% of your income. I do know today that would be quite difficult in most parts of this country, but doable in other parts of the country.
That's still the standard advice. Def hard to do a lot of places now so some people will stretch it to say 30 or even 40% is OK, but it makes the other parts of those budgets VERY hard to live within
George!! You are a phenomenal singer. Honestly- that was one of my favorite parts of the video. Well done!
Um I couldn't afford to decorate for almost 8 years... and then I could only afford goodwill, yard sales, or thrifts.
😂 I moved to my new to me home and had no decorations at all. Got free paintings and wall art after the neighbor across the street passed away. Just started sprucing up the landscaping and got 10 bags of $2 mulch. Used some free landscaping lights that needed new batteries. Just gotta pick your battles. I want a new garage installed by the end of the year do I'm saving every penny i can 😂
You are spot on with every topic discussed but a lot times the lack of knowledge application and discipline are the main reasons we don’t achieve most goals. Great video
I guess some people just want to be poor. Instant gratification means more to them than long term comfort and security.
Aldi is the goat for saving money
Trader Joe's is slightly behind it and generally healthier.
Lidl is awesome, too! I do all of my shopping there!!!
Yes, but also buy second hands😎
Aldi’s produce and meat are not good. Canned food , dairy and frozen food is good though
Solid. Cover. George. I have seen the tele on the wall behind you, and thought..."nah."
I was wrong. Fun fact, every time I heard "Laurel Road" I immediately started singing "Country Road" in my head.
the people who complain about your advice are lazy, entitled, and want instant results. ignore them. they want things handed to them. they dont want to work for things. they think by merely existing, they deserve things.
Same kinds of people are protesting on college campuses while they rack up $100k in student loan debt then tomorrow are whining for debt forgiveness. We live in an age when math and facts and reasonable thinking are hated.
They act as if you arent just spouting the same advice EVERYONE has been saying forever
came for the sass, stayed for the song.
Great Job George! Keep up the awesome work!
1:48 people flagging Dave Ramsey on this 30 years so should, theoretically, have their mortgage paid off
I followed the 25% payment advice when I bought my new-to-me home in 2022. Home was $160k and I had saved $60k to put down. Been paying an extra 1/2 payment each month and I'm 2 years in. Home will be paid off in around 6 years or so. No other debt and I have a 6 - 8 month emergency fund. I've saved up enough now to start construction on a 2 car garage, and paying in cash. These babby steps are awesome 🎉
Well explained George. I personally know so many people like this
It shows how detached from the truth Americans have become that they actually believe it’s cheaper to pay someone to cook for you, than to cook for yourself.
Detached from reality or just plain stupid 🤣
I think most want convenience and if you live alone or have long days, want food you don't have to cook. That's why the (awful to me) food delivery services like Home Chef etc became popular. I like a salad but for one day. I'm not eating greens 3 days sitting in fridge and I know that about myself. Grabbing a 6.00 salad with all the trimmings is cheaper than wasting food. Americans throw out so much food trying to "save money".
Helloooooo metabolic health syndrome!!!
@@deb9806I live alone. I hate to cook so I focus on making food that freezes well. I double batch and freeze in portions. Example: pasta (undercook by 2 minutes, drain, put into ziplock), ground beef brown and crumble put in 1 ziplock and freeze use for pizza toppings, tacos, spaghetti sauce, bbq beef, etc. I basically cook for 1 week and eat off frozen portions the rest of the week. Sounds like a lot of work but it's easy and faster than drive thru. Key is a menu. I take last night's planned leftovers for lunch next day. My emergency meal is an omelette. I also Keep shredded cheese in my freezer.I spend $60/week on food, mainly because I love Asian food which can be cheap and fast to make.
@@happycook6737 yes my daughter actually said "you have to learn to freeze more" but I never think it tastes as good. I will try though . I never do fast food but like deli's in my area. Some Italian ones will make portions to grab and go or have 2cutlets you can buy but again, it's going to be more money than buying them and freezing some. My mom did what you did as a widow and it worked but she also had to toss things that she kept for too long.
When the vast majority of the masses tell you that you're doing something wrong and your gut tells you that you're not hurting anyone, then that's when you know you're truly doing something right with your life
George, thank you!! ❤
@5:37 "Laurel Road take me home" best sponsor shoutout haha
At 22, I started putting 10% of my $7.25/hr wage into my 401k. As I made more through the years I upped it by a percent or two until I reached the max annual contribution. Today, a few months from my 50th birthday, my 401k is in the very high 6 figures.
The people who hate your advice don’t have self discipline--similar to our friends when we were doing BS 2: “good for you guys but I know I couldn’t do it….”
At least they admitted it!
I'm so impressed by your musical talent!!!! Btw, you're my favorite nerd! Keep it up!
The worst is the victim mentality(very common nowadays) you're basically manifesting being a failure.
"You can decide to have this thing called hoped instead of this thing called cynicism." That was a great reminder from George that we don't need to wallow in self-pity, as it doesn't get us anywhere.
Thankfully, I'm one of those rare birds who cooks better than what I can find in restaurants. If it weren't for my feet limiting how long I can stand, I'd probably have my own restaurant or food truck. As it is, my family eats better dining in than my neighbors do eating out, all while saving money and exercising my creativity.
People will work so hard to find excuses.
Last night spent $300 on a meal that was so-so. Sometimes it's terrible to be great home chefs.
If your gig with Dave Ramsey doesn’t work out, you can always become a singer songwriter! 😂
They expect everything to happen right now...with time the rewards will come. Yes prices now are bonkers but if we are intentional and strategic with our money, we will be fine
I just turned 23, I have 15k in my TSP. Moved into my 2nd house granted it's on a 30 year mortage. But it's small and doesn't kill me month to month. I'm proud of where I am only making 60k a year with no college degree working for tbe government. I have 2 kids they were a big wake up call and I've built all of this within 3 years.
My wife and I went out to a homemade Italian restaurant (homemade noodles etc..) she got soup, lasagna and cake. I got soup chicken Parm and cannoli. The bill was $78 I almost choked. We haven't been out to eat like this since COVID. We will do Mexican food and that's under 20.00 for both of us once in a blue moon. It's way to expensive to eat out.
That's cheap for Italian IMHO. Such a meal would be $150 where I live. We eat at home.
I started with a 30 year mortgage, but after three years, I turned it into a 15 year and two years later, I turned it into a ten-year period and I paid it off six years after that. The idea of a 30 year mortgage stressed me out so bad.
Finally, somebody roasting and speaking facts to the commentators lol this is platinum!
Somebody ought to check on boo boo bear 😂😂
Haters clearly don't even know how to operate a calculator
When i heard you talking about the fact that once you are ‘off the clock’ your time is worth nothing, it reminded me of a micro economics concept, called ‘ opportunity cost’, which considered the best alternative use of scarce resources, be they time, money, etc. If cooking at home is cheaper than eating out or ordering a delivery, when the extra effort to cook will impact you negatively, then it is the best choice. Ordering doordash, might save you effort, but are you earning in the time you save?
Great wisdom here George. And good natured.
Im not sure why people think eating out...with the same overpriced food costs + labor + overhead....is cheaper than just buying the ingredients. Based on what I've seen people just suck at cooking these days.
Can confirm, grew out of cooking probably 5 years ago for some reason. Trying to get back into it since even McDonalds is $20 these days...
@@jacobawojtowiczwatch videos on how fast food is processed. I could eat 2 combo meals and not feel as full as I should. Malnutrition
Also laziness, people dont wanna cook at home and would rather call up Doordash, and pay even MORE fees. No thank you
I asked my cousin one time what was for supper. She said lasagna. I said homemaid she said yes we bought it and took it home and baked it in the oven. She thought that meant homemaid
I suck at cooking as well... but I cook for myself and meal-prep. If it doesn't turn out so good, i eat it and on top i have someone to blame --> Myelf! 😁
People come up with all kinds of excuse to be poor. Stop eating out, drive a 10 year old car, don't buy coffee, blah, blah blah. But you know the one thing people refuse to do? Make more money. If you have to forgo life to save money, you are in denial about your income. And living like shit to save isn't the same thing as being wealthy. You go to to both. Live and invest. And now I'm going to piss off 80% of you. Here it goes. 100k a year isn't middle class. So, stop making excuses and go make more money. You only live once. I think I'll dine out tonight.
Reading "hate" comments is a fun part of having a RUclips channel, in my opinion. It means people are passionate about the topics you cover. I think you should make the "I Triggered People..." a recurring topic. I bet you'll get a lot of views and some laughs. 😀
Thanks for your videos, George. :)
The bit about food prices are true. My wife and I gathered the actual cost of the ingredients we use in all the meals make on the regular. They ranged from about $4 (for an instant pot macaroni) to about $22 (for French dip slider), with most around $8, and that's for the whole meal for a family of 4, and many of those leave leftovers. Our conclusion was that the only place you can eat out and not lose huge is at Costco/Sams's Club, and that's only 'cause they take a loss on the food since it's part of marketing.
My 17 year old has $20k in her bank account. No gifts, no inheritance, all money came from her part-time job paychecks. Stop spending every penny you get and you can invest $10k at age 22.
Wow, kudos to her 👍🏼
I’m 17 and bought my a $9000 car in cash. Also have another $10,000:) I’ve not been given any of that!! I work full time and do school online simultaneously:)
No excuses you just have to do it😃😃
She’s a blessed daughter to have a parent that cares to guide her so well.
Yeah!
Quit being independent and just live off your parents!
That’ll teach some responsibility!
My 17 yr old has almost $15k in her bank account waiting for her to buy a car this summer. My 19 yr old has over $15k, and drives a car he paid $8k for 2 years ago, and just finished his first year of college that he cash funded & had scholarships. My 21 yr old has $8k, also drives a car he paid $8k for 2 years ago, and is almost finished with an associates degree that he has cash funded.
It's possible to have $10k to invest at 22 yrs. It just requires you to WORK and be self-disciplined with your spending. Two things that many people don't want to do today.
Hey George loving the vids. Given that it’s grad season and some people tend to travel, would love a vid on travel trips for saving money for recent graduates like me. I’m currently traveling Europe and have been buying sandwich supplies from grocery stores for my lunches and can definitely confirm it’s cheaper than eating out.
Kamel Kamel Kamel!!!
Well you have to explain these simple things in a video makes me believe there isn't much financially intelligent life in US 😓
Hmm, I leased a car before(back when I didn't know better), it's interesting that person says they do not pay for any repair or maintenance, because that was definitely not my experience with leasing. In fact I paid for everything.
George, you are so right, down the middle right!
I love you George!!
Yeah, no one is saying a 15 year mortgage at 25% of your income isn't sound financial advice, it's just unrealistic...
I am learning a bunch from your videos and like the way you present them. Thanks
Love your advice and love the humor too.
We got a 30 year fixed rate mortgage with the intention of paying it off early. The goal being 18 years, ie when our daughter was college age. So whenever we had extra money we made extra payments. Paid it off in just over 16 years, but had that freedom to control when we paid more and when the budget was a little tight we just made the normal payments. That might not work for most people, but worked for us. You do save on the interest rate on a 15 year mortgage, but it is a higher monthly payment.
"bacon at the thrift stores" DIED! I was not expecting that line
Leasing a car over 20 years: Average payment in 2022 was $540/month or $6,480/year. At 20 years, he’s paid just shy of $130,000 on a car.
Alternatively, purchasing a used $30,000 car once every 10 years: $60,000 over 20 years.
He’s spent $70k MORE than buying used in 20 years and that’s BEFORE over-mileage penalties paid every 3 years.
$70k invested in a growth stock mutual fund over 20 years, contributing $291/month will be worth $209,000 at the start of year 21.
His choice to lease cars rather than purchase used had an opportunity cost of $209k. People who lease cars are fools.
LOVE your common sense, George!
Not eating the entire pack of bacon? You underestimate my ability to eat bacon.
Same here...unfortunately, my hubby and I can eat an entire package of bacon for Sunday brunch!! Since we only eat bacon on Sundays, I buy 4 pkgs/month and freeze them.
Some people are too stupid to save.
You’re amazing at your meme game. Also your point about not eating the whole pack of bacon is a good point. I never thought about it that way.
7:00 if leasing wasn't a win for the dealership they wouldn't offer it. The seller of the lease would literally want to have it cost more then depreciation or it's not worth it to offer.
Experiencing your musical charms made every second of this vlog absolutely worth it! 💚
How in the HELL does anyone think eating out is cheaper than cooking at home????
ALL the young teachers that work with me SWEAR eating out is cheaper! Even when I show them an easy menu plan they refuse to believe. They think discounts on restaurant apps are a good deal. They also can't cook! Sigh.
I don't think anyone really does think this. Pretty sure they just cherry pick out a couple comments for this example to get everyone on their side and shield from all the other absurd takes they are trying to defend
I get it to some extent, especially if you can work the extra hour and get paid more instead of spending that time on cooking.
But this applies only to mid-day lunches, not evening dining.
Honestly, cooking at home for us is so much more enjoyable! For one, i can drink as much alcohol as i want and cook! No worrying about having to drive home drunk. Plus, grilling is just a good ol pastime.
Yeah, the one problem I run into is that if the food I make is too good, I end up eating too much of it.
@bvoyelr haha! Just means you're a dang good cook!
Totally agree and not paying tips everywhere saves too.
coffee in kureg at work about 30 cents a cup well i use the cups twice though cause why waste coffee if i add creamer and splenda closer to 40 cents coffe shop in my town same coffee 3-8 bucks depending were you buy it.
the only thing that upsets me about the Ramsey advice is that they pretend like theres a bunch of dirt cheap townhomes within an hour drive for everyone. There isnt a single townhouse within 4 hours of where I live that will be
I have taught all my children how to cook from a young age, very good parenting advice. They save so much money from eating at home. Fast food is pure garbage and restaurant quality has gone way down.
Mom taught me in the early 80s how the sink, stove and dishwasher worked. She had us trained 😂 for when she beeped the horn we had to bring in the groceries 😏 Worked food service for 20 years, I never eat out unless we are on a trip.
The fact that something may be difficult to achieve (or even outright unobtainable) doesn't render it not good advice. The math is still the math.
Keep up these awesome videos. The stuff this man teaches is not easy but will build you wealth 100 percent.
Lmfao the thumbnail love it
It’s ridiculous how excited I got when George started playing 😂🎉❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤
Having a 15 year fixed-rate mortgage is going to make it a high mortgage payment and to expect that to be only 25% of your monthly income means you’re either making a lot of money or you’re getting a very small, poorly located home
I’m 17 and bought my a $9000 car in cash. Also have another $10,000:) I’ve not been given any of that!! I work full time and do school online simultaneously:)
No excuses if I can do it you can to
Love the advice George😃😃
They're drinkin the HATERADE!!! ™
George, thanks for another hilarious (but accurate!) episode...not to mention an uncanny John Denver spoof for your bank sponsor!
Great video as always.
I’ve learned an awful lot from you, so I just don’t even worry about it if I don’t happen to agree with something you’re saying. You’re just so darn entertaining it doesn’t even matter!
I agree in principle with 25% for housing but assuming you took home 50k after taxes that is only 12.5k per year for housing. Assuming a 7% interest rate that is a 180k mortgage, the median home value in my area is 400k. The math just doesn't work. With the current interest rates and housing prices. The younger generation will just be permanent renters.
I agree with you. I generally like his content. I agree that it's a lot less stressful if your mortgage is only 25 percent of your income on a 15 yr note. With the price of real estate and the median income, that's just not a reality for many.
Sounds like you need to take home more money to buy a nicer house. What a ridiculous proposal from George.
That’s why most households need two incomes. Also, you might start at 35% of your take home pay but it improves with time as you get raises. We started there and got to 23% after five years.
what you are really saying is your aren't willing to buy a lesser home. I an in NJ and can find properties less than $200k. Are they in areas that I love? no. But I can afford them at 15 year mortg. etc. You have two choices. Make more money or buy less home. You aren't titled to get what you want for doing less.
Get roommates ir live with family if possible. I moved back in with my parents (returning from out of state move) for 1 year at age 34. I saved $70k for a down payment.
Woah woah woah...woah.
You're NOT eating the entire pack of bacon in one sitting?
Who are you people?
Haha - being able to cook a meal from basic fresh ingredients is my food budgeting superpower - learn to cook
Its amazing.
Focusing on basic ingredients and simple assemblages of food rather than recipes per se is reducing waste and my spending at the grocery store. It’s mainly been driven by dietary changes overall (which had been pretty good).
Right!!😂😂
You Shouldn’t be in a restaurant unless you’re working there.