5 Things Keeping Millennials Broke

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I recently came across an article from the Wall Street Journal about how millennials in their 30s are struggling financially. But why millennials? I mean, I know our Beanie Baby investments didn’t turn out like we had hoped, but are we really worse off than other generations? In today’s video, we’ll take a look at five things that are making millennials feel so broke right now, and what you can do about it if you’re one of these 30-somethings struggling with money.
Links:
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Order George Kamel’s new book, Breaking Free From Broke. store.ramseysolutions.com/mon...
George Kamel is a personal finance expert and co-host of The Ramsey Show. Following Ramsey’s proven money plan, George went from negative net worth to a millionaire in under 10 years. His goal is to help people spend less, save more, and avoid money traps so they can live a life with more margin, options and freedom.
This channel will simplify complex money topics, bust money myths with actual facts, and debunk the stupid financial advice you're seeing in your social media feed. All with a healthy dose of pop culture, humor, and snark.

[@ErnestKingston]

We work for years to earn $1 million on our retirement, while some people put thousands of dollars in some meme coins and they become millionaires.

[@CandieSandra]

Best thing to happen to me last year that I can attest to is the progress I have made so far on trade. Venturing into crypto was my best decision ever. I know more is yet to come in 2024

[@SugarNorway]

I always wanted to trade crypto for a long time but the volatility in the price has been very confusing to me although I have watched many KZbin videos about it but still find it difficult to understand

[@Stacykings]

Crypto is bringing a different revolution in the world economy, people who are optimistic investors earn consistently... Others just sit and work

[@SugarNorway]

I have been holding for a while but the market dynamism is really getting me uncomfortable, I really need help deciding

[@Stacykings]

Get the service of a professional, I work with TIMOTHY ERIC MEEK!

[@Hannahbenowitz]

Did my grocery bill just jump 10%? Feels like I'm working harder for the same amount of stuff. Gotta find ways to stretch my budget further or this inflation thing is gonna flatten my wallet.

[@PennyBergeron-os4ch]

I hear you. Curbing spending is key. Look for cheaper alternatives, clip coupons, and maybe even consider a side hustle to boost your income. Every bit helps fight inflation's bite.

[@HildaBennet]

Firstly, rack your spending, identify areas to cut back, and free up money to weather inflation's storm. A financial consultant can help you analyze your budget and identify areas to cut back without sacrificing your lifestyle.They can also explore ways to boost your income through strategic investments. One client I worked with saw their portfolio grow by 12% last year, allowing them to build a buffer against inflation.

[@JosephineKenney]

Would you mind telling me how to contact this specific coach using their service? You seem to have the solution, as opposed to the rest of us.

[@HildaBennet]

Her name is “Sonya lee Mitchell” can't divulge much. Most likely, the internet should have her basic info, you can research if you like

[@crystalcassandra5597]

I searched her up, and I have sent her an email. I hope she gets back to me soon. Thank you

[@Red_with_lead]

I'm 32. The biggest lie my generation was ever sold was, "Without a college degree, you'll never amount to anything." I didn't buy the lie. Thank God for that.

[@BirdRaiserE]

You made the right decision

[@TheSRMproject]

Haha same here. No degree and make 6 figures working in a cheese factory of all places.

[@EliotLu]

@@TheSRMprojectthat’s the way the feta cheese crumbles

[@mrcalderon93]

@@TheSRMprojectno debt No degree makingover 100k putting chips up in stores

[@Carcassbits11]

I'm finally making a decent salary and there are 19 year Olds working the same position as me making the same money. I worked crap jobs for the last 10 years because I have little education or motivation. This company that moved to my town has been a great opportunity, I wish there were more opportunities in my area in 2014

[@alexking358]

What made me feel broke was when you said Kevin’s mom was 36!

[@TaxinGigs]

Same 😅

[@BTrain-is8ch]

"Many seem to think it's their only way to get an education and a high paying job" and most will end up neither educated nor in a high paying job. Weird how that works out.

[@jesusd.rodriguez6629]

Found this channel before finding Ramseys and can say that both of you are teaching me things I wish I knew when I was younger but I’m a 22 year old college student with a part time job no debt or credit card with over $10k in savings and already putting money in retirement. So I think I’m doing okay for now

[@victorbaird8220]

You are so beautiful 😊

[@donnahampton3632]

What kind of job do you plan to get after you graduate? Many students don't know at all.

[@ndwhitlow]

You are doing great! I was in your position at your age and now I am WAY ahead. By the time I was 25, I had a 100k networth. Things start to move fast after college if you keep it up

[@jbmboy]

I know people in their 50s that aren't doing this well. Good job!

[@user-oh4od4kl9x]

When u get out of college and actually start living on ur own working full time. Ur gonna realize real quick everyone at Ramsey is a quack

[@dmbfannh]

I paid 4000 for my 2010 Honda Fit, no car payment and that car hardly ever breaks it Just goes and goes while I save and save 😊

[@jacobcooper269]

You're fortunate as the average lifespan of a vehicle in the United States is roughly 11 years. We all know there's plenty of models of cars that are dead in half that time.

[@user-tl7mj2bm4m]

Yup - Toyota's, Honda's, Suburu''s are about the top three.....

[@dmbfannh]

@@jacobcooper269 it depends what area of the country your in too. People in western Washington State ( where I live) keep their cars for a very longer time, this is because they don't have to use salt very often on the roads here so cars don't rust. In New England yes 11 years but around here i see cars over 30 years old on the road all the time. I was astonished when I moved here seeing cars I haven't seen in years in New Hampshire where I am from

[@jacobcooper269]

@@dmbfannh This is true. I'm in the Pittsburgh area.

[@dmbfannh]

@@user-tl7mj2bm4m exactly, my fist car was a 1992 Toyota Tercel. I waited too long to change it's oil all the time. Even still I don't remember anything ever going wrong with that car.. That cheap underpower little car was absolutely amazing!! It was a manual transmission which typically are even more trouble free than any automatic. Anyway it had 260000 miles on it when I totaled it in an accident. Literally trouble free miles, I spent minimal amount of money on repairs. That car literally never broke!

[@rangledangle3371]

“Live at ‘home’” is such great advice when you have one.

[@tommyjones1357]

Chiming in because this one is interesting: All the 30 year olds who never left the comfort of mommy and daddy’s house have had their futures destroyed by comfort. Whereas all those that had no choice but to leave their house learned perseverance. They got comfort with discomfort and made something of themselves whereas those who stayed home are still home today and outright helpless. Still, when I have kids, I wouldn’t want them paying rent to a landlord - but I won’t kick them out. Heck, I’d probably work with them to get some real estate. But who knows. The future is untold and the temperament for each child is unique.

[@rangledangle3371]

@@tommyjones1357I can tell you I was on my own from 15, and been working since then. I earn a great six figure salary and so does my wife. She also didn't have parental help. Still, we are decades behind those that lived with parents or got financial assistance from them. We don't splurge or spend, save at least 50% of income, but catching up to those around us that received help is basically impossible. My perseverance means little to me at this point, but I've learned not to compare myself to people who got help. Not a fair comparison by any metric.

[@JGComments]

Silly. Live with your parents, or get 3 roommates and rent a 2 BR apartment.

[@tommyjones1357]

@@JGComments nah, don’t pay money to a landlord. Work with your parents to get an investment property

[@JGComments]

@@tommyjones1357 No thanks. OPM comes with too much risk.

[@KennedyIvy]

If a house went from 200k to 400k, wouldnt that be a 100% increase? Not 50%.

[@AllforOne_OneforAll1689]

What is 50% of 400k?

[@KennedyIvy]

@@AllforOne_OneforAll1689 200k

[@chrisdowns422]

@@AllforOne_OneforAll1689 Your math teacher failed you (current price - original price) / original price * 100 = percent change.

[@AllforOne_OneforAll1689]

@@chrisdowns422 You're incorrect. $400,000 x 0.50% equals $200,000

[@chrisdowns422]

@@AllforOne_OneforAll1689The price went from 200k to 400k. If the price had gone from 400k to 200k, that would be a 50% DECREASE.

[@jbb00676]

Millennial here, months away from my 30th birthday and what I might say may hurt some people because its the truth. A lot of what I've seen from my peers is a lack of discipline and sacrifice in the early years in many aspects until its too late. I too left college with debt, hell, when I left grad school I was 75k deep in the hole but I had a plan and a burning desire to get rid of that debt. As soon as I started working, started paying 3 times my monthly minimum. Was I rich? Hell no. I sacrificed a lot to do that. Didn't go out much, took one vacation a year on a budget, didn't buy name brands or live it up buying a nice car or anything like that. I also took immense care not to have a child because that would have derailed my plan. I also leveraged credit card points to subsidize my travel cost. Credit cards are not bad so long as they are used properly and you live within your means. Be honest about your budget and what you can truly afford. All of this takes immense discipline to continuously over several years. What I have notice with my peers is that many didn't have such a plan or if they did, they didn't stick to it. Sadly we are the generation of social media and people fall into the trap of fomo because of it and end up spending money that they don't have largely because of social media influences. Another thing I've seen is that after college, many flock to big cities to live up their 20s and have fun while working. That's fine provided you can carefully weather the higher cost of living due to rent and be able to save among all of that. I made sure not to live in a major city but in an affordable suburb adjacent to a major city and commute to the city when I wanted to. Save me a lot of money rent that I could use to save or pay down debt. I realize that this is not for those my age and older but if you're reading this as someone in their early 20s, you need to make a serious plan and whatever you do stick to it and do not blow your money on things that won't benefit you in the long run. Oh, after 6 years, I'll be debt free in 3 months 😬

[@benedwards3427]

Yes delayed gratification!! I'm saying this too. They won't hear though it's easier to blame those who did practice delayed gratification.....

[@jbb00676]

@benedwards3427 people have to realize that each generation is different and we cannot look at our parents and grandparents generation and hope the same for ourselves. It takes a lot of maturity to assess your situation, society around you and make a plan and even harder to stick to it at a young age. It sucks. Especially watching friends and people you know seemingly having the time of their lives. But what are they giving up to do so?

[@josha420]

I think social media has a big thing because people flock to it and have FOMO. So they overextend their finances and take out numerous debt so you can impress other people. Yet complain and say you got lucky when someone actually has their finances in order.

[@xlerb2286]

Well said. Tail end boomer here but it was the same for us. Those that had a plan, made good life choices, and invested are generally doing well. Those that racked up debt, well, that's a different story. We've been debt free for years and I'm planning on retiring this spring. I was going to stick it out until I turned 65 but work has lost its luster over the past couple years so I'm bailing a few years early. I wouldn't have the option to do that if I hadn't prepared.

[@jbb00676]

@xlerb2286 happy to hear that you had a plan, stuck to it and enjoying the fruits for your labor and good decisions. Hopefully you are relaying the info to anyone that would listen

[@budgillett]

In Loving Memory of the Costco Churro (2009-2024) It is with a heavy heart and a longing palate that we announce the departure of the beloved Costco Churro from our lives. Born in 2009, the Costco Churro quickly became a staple of joy and comfort in the hearts and taste buds of countless shoppers. For fifteen sweet years, this delightful pastry graced the food courts of Costco warehouses, standing as a symbol of simple pleasures amidst the hustle of bulk shopping. Its warm, cinnamon-sugar embrace became a beacon of indulgence, eagerly anticipated during each visit. The Costco Churro was more than just a snack; it was a shared experience, a treat that brought families and friends together, often discussed with excitement and savored with smiles. Its crispy exterior and tender interior were the perfect combination, making it a legend in its own right. Though it leaves behind a void that may never be filled, the memory of the Costco Churro will forever live on in our hearts and stories. As we bid farewell, we cherish the moments of happiness it brought into our lives. In remembrance, let us not dwell on the loss but celebrate the joy and sweetness the Costco Churro provided. Its legacy will continue to inspire future treats, but its unique place in our hearts remains unrivaled. Rest in peace, dear Costco Churro. You will be missed but never forgotten.

[@jeffclifford5731]

THANKS. Just what I needed to watch. My wife and I got a 400k HELOC from our 780k primary home which we are still paying a mortgage for. I want to only use 200k for this new duplex down payment. I realized that the secret to making millions is making better investments and staying out of debt. I'm grateful to GOD for the internet space, we were able to join the credit repair program, we payed up our debt and now we are back to being the administrators of our farming business and our own properties, as well as small pensions. 1 am almost 56, my wife is 52. We have started saving for retirement from the farm and maybe live off rental income, I would really appreciate it if you would do a video on how to earn using Airbnb and retire comfortably.

[@AnniePickford]

This is exactly how I wish to get my finances coordinated ahead of retirement.

[@AnniePickford]

You talked about a "credit repair program" how do I join? I took out a 200k heloc from my primary home 2 years ago which I'm still paying....I find it challenging to invest elsewhere because I'm still paying the mortgage and I got bills. to pay.

[@jeffclifford5731]

"Laura Gilbert CFA " is the licensed fiduciary 1 use. She lead me to join the program, Just research the name you'd find necessary details to work with a correspondence to set up an appointment.

[@AnniePickford]

I just googled her and I'm really impressed with her credentials; I reached out to her since I need all the assistance I can get.

[@jeroldstokes6065]

Why no one talked about this program when I was in debt

[@TamaraGodina]

I’m 45, $800K net worth. Been saving 50% of my salary, investing in stocks & living below my means. I'm trying to avoid new buys now in order not to get sucked into a bear trap. On the other hand, I’d love to know best possible areas and ways to invest amid downtrend. I’m worried with the numerous bank failures as of late or do I wait?

[@DrealOtis00]

@llWavene if you do not mind, could you explain a little bit how you're getting guidance and how can I contact the advisor? I'm looking to give stocks another shot after staying on the sidelines

[@DrealOtis00]

Thanks for sharing. searched for her full name and her website popped up and it was easy to schedule a call session with her

[@pnwflipper2089]

You are generation X. Not cursed like the millennials! Be glad!

[@bernadofelix]

Managing money is different from accumulating wealth, and the lack of investment education in schools may explain why people struggle to maintain their financial gains. The examples you provided are relevant, and I personally benefited from the market crisis, as I embrace challenging times while others tend to avoid them. Well, at least my advisor does too, jokingly.

[@Stellaanderson-qx5nl]

Investors should exercise caution with their exposure and exercise caution when considering new investments, particularly during periods of inflation. It is advisable to seek guidance from a professional or trusted advisor in order to navigate this recession and achieve potential high yields.

[@KarenLavia]

It's often true that people underestimate the importance of financial advisors until they feel the negative effects of emotional decision-making. I remember a few summers ago, after a tough divorce, when I needed a boost for my struggling business. I researched and found a licensed advisor who diligently helped grow my reserves despite inflation. Consequently, my reserves increased from $275k to around $750k.

[@SandraDave.]

this is definitely considerable! think you could suggest any professional/advisors i can get on the phone with? i'm in dire need of proper portfolio allocation

[@KarenLavia]

Finding financial advisors like Margaret Johnson Arndt who can assist you shape your portfolio would be a very creative option. There will be difficult times ahead, and prudent personal money management will be essential to navigating them.

[@ScottKindle-bk3hx]

Thank you for this tip. It was easy to find your coach. Did my due diligence on her before scheduling a phone call with her. She seems proficient considering her resume.

[@charliecampbell1232]

I was blessed to have my grandmother pay my 50k total education tuition. Before that I had 20k from community college, but cash flowed that myself. So blessed to never have had student loans.

[@15KHPCLUB]

1.) Housing 2.) Health Care 3.) Education 4.) Food 5.) Utilities/Energy There, fixed it for you.

[@Nitroat-xo4tj]

not in europe.. healthcare is a small part.. No comparisation.. every american, stating its even mire expensive or its communism, has no clue.

[@15KHPCLUB]

@@Nitroat-xo4tj Government control over healthcare is the epitome of a communist regime. Being forced to pay upwards of 90% of your income to people who eat too much, drink, and smoke is socialist. Yeah the American healthcare system has its issues, but at least I don’t have to wait 3-6 months just to get a CT scan how you do so God help you if you get cancer or something.

[@jacobcooper269]

@@Nitroat-xo4tj How do you live in Europe and still not understand the cost of maintaining your own healthcare systems? What nation do you live in because I want to start pulling apart their national budget and showing you not only the cost of maintaining a demonstrably worse healthcare system, but one which lacks the robustness of even our own imperfect healthcare system. America has a compulsory insurance model -- that model was adopted during the Obama administration and do you know where they sourced this model from? Nordic countries which also have compulsory insurance models. This model is precisely why our nation's healthcare system has become even more consolidated under corporate healthcare providers than it was under the previous system of healthcare. Lastly, of course people calling it communist are wrong, what they should be saying is that it's socialist as socialism isn't exclusive to collective ownership, but also collective control of markets which are composed of privately-owned businesses. You're either a nation that allows the markets to be regulated by consumer-choice (a tenet of classical-liberalism), or you have markets that are regimented by government regulations and tax schemes -- which is what our system is.

[@jacobcooper269]

How's it possible that healthcare is still so problematic (even more so than before) over a decade after the Affordable Care Act was signed into law? When are Americans going to realize that politicians and regulators can't control a market better than consumer do via consumer-choice? We allowed politicians to hand our markets over to compliant insurance companies back in the 1940's as a means to combat post-war inflation due to government spending and yet the healthcare system has only degraded since that time. Perhaps people need to start looking at real solutions rather than just lazily passing the responsibility off to incompetent politicians and bureaucrats.

[@jonathanwelke]

I have alot of gratitude after hearing things like this. Im a millenial. Just barely afforded a home at 400k. Working a decent job and saving as much as I can after the mortgage. But no credit card debt. Bought a 10 year old reliable car in cash. And have no student loans. It took decades of sacrificing new things but im glad I have the house now. I also furnished the entire house with 2nd hand items. All I could afford. Im talking. Kitchen table. All of my couches. Lamps. Basically my cuttlery and my mattress are the only things in my house that I bought from a store. Its difficult but here we are.

[@theresamorrow-oc1te]

Kudos to you!

[@Beliefacy]

My only hope is to work 3 jobs to afford a home here in Cali. Average homes in my area are 1.2m just basic homes 😂

[@pnwflipper2089]

Most of my house is furnished second hand too, but I like it! I love the way old wood furniture was made and can be refinished. I love vintage lamps and dishes. My refurbished second hand vacuum is a beast. My kids don’t mind hand-me-downs one bit! But good call on the mattress! Bed bugs are nothing to mess around with!

[@Beliefacy]

Yea actually, just find the right jobs and hustles! I have tons of flexibility. My night job I basically just stand there on my phone from 5PM to 11PM 6 days a week and makes me over 2,200 just from that alone! Now add in a morning job 3 or 4 days a week and the extra days I do work on cars.@Joe-no7gs

[@jonathon9753]

Wouldn't a 50% increase of 200k be 300k?

In Memphis, TN, homes are roughly under $200K but high crime areas are under $100K. It helps if your parents have experience with home construction & subcontractors

[@nman2008]

I gotta say, I really enjoy the entertainment value of your videos! The funny clips, sound effects, and witty comments crack me up.

[@zerokool-2058]

This was a great video. I am pushing to finish paying off all debt. ALMOST there.!!!

[@user-yo4jv3ph1g]

I thoroughly enjoyed this video (the content and the humor, which help lessens the blaring facts shared!!) 😅 I cannot send this particular video out quick enough to my 30+-yr old family members!!❤

[@Xtina2525]

Great video! The ones from your list affecting me are inflation, home prices, and student loans. I pay off my credit card every month so never pay interest on that and I just bought my new car in cash. Still going to be a while before I work my way out of the student loans though. Love videos like this. Thank you!

[@Toyotaguy.]

I’m 33 still never had a car payment I save up pay cash and I have learned to fix my cars myself

[@tylerh1648]

Because you're smart and drive toyotas

[@immersion9880]

Such an underrated skill!

[@Toyotaguy.]

@@tylerh1648 yes 2003 Toyota Avalon xls 285k miles

[@Nerdbuilt]

@@tylerh1648Nissans are great too but I also own a Toyota as well lol

[@link2442]

Sad that americans are handicapped without a vehicle

[@HillaryMaxwell5]

As you plan your retirement, be sure to take up a financial advisor who can help you make the most of your retirement investment scheme.

[@CandieSandra]

Very true, if you're looking for help in building your retirement nest. You most likely need a financial advisor.

[@Elvilla640]

One of my goals this year is to employ the services of one. I've seen some off LinkedIn but wasn't able to get a response. I would love a recommendation.

[@HillaryMaxwell5]

BIANCA HARLEY DORAN is the licensed fiduciary I use. Just search 🔎 the name. You'd find necessary details to work with and set up an appointment.

[@Juliedonald559]

I can't believe you guys are discussing BIANCA HARLEY DORAN she is now managing my account and I've had no regrets so far.

[@Boostleaked]

Yea a fella named Madoff

[@jackhutchinson7659]

Finished the audiobook this morning , it’s great 🤩 love from the uk

[@kcg6161]

I can’t believe he snuck in a Full House Joey Gladstone “cut it out.” 😮 Bringing back childhood memories my friend! 😂

[@reviewsbygen5591]

Full House was my English class after school haha! I was raised in a non English speaking county but I learned all my English through this show. I also dreamed of living in the USA and here I am haha! I even went to look for the Full House house in San Fran and it was a magical experience.

[@sebastianpinto6514]

😂😂😂man i gotta say at first I wasn’t sure about George but been loving the content quite humorous, home alone comments😂 I feel like I’ve been 23 for the last 10 years

[@amara1954]

I’m a boomer. Wish I had know this when I was young. However have eliminated debt with the Ramsey plan. Now trying to get enough to retire.

[@Carcassbits11]

Good luck!

[@nathanjustus6659]

I went to a community college and then transferred and went part time. It took me longer to finish my degree. But guess what? I didn’t get a four year degree and have $35,000 in debt 40 years ago. $35,000 for years ago was over $100,000 today. You pay one way or you pay the other. I prefer to pay with time rather than cash.

[@joch8705]

AIM man that's making me feel old. I remember those sounds!

[@TheJimmy144]

It's really depressing when the salary I thought just a few years ago would've been absolutely amazing is now barely middle class. The home and lifestyle our parents provided on one very average salary is no longer in reach for younger generations that are already making every sacrifice they can and working multiple average salary jobs. My fiancé and I have already had to face the fact that we will most likely not be able to have kids, purely because of cost. And this is coming from someone completely debt free.

[@V8Brah]

can't have kids because your salary is too low? No offense but that's small-minded thinking. Your salaries will grow over time, and your kid isnt gonna hate you cause youre poor.

[@myrontedrow6134]

I’m not sure where you are looking to buy your kids, but with one simple trick, you can get one of your own for almost free. By the way, billions people a lot poorer than you have been having kids for literally ever.

[@GamerNxUSN]

​@@myrontedrow6134right?I imagine what they mean is they can't afford a kid and still maintain a lavish lifestyle of being childless like they want. Part of the reason why homes are the way they are. Dudes want a "man cave" and every kid gets their own room.

[@davida730]

@@V8Brah Not sure what jobs are actually keeping up with inflation, much less exceeding it enough to afford a child. Might have to move a lot to pursue better paying opportunities which becomes more difficult with a family.

[@Yogurt4655]

@@V8Brahwhat a selfish mindset. Bringing a person into the world under a bad living situation just because *you* wanted to

[@tonicktv951]

Your math ain't mathin'. 50% increase on a $200K home is $300K. $400K is a 100% increase. xD

[@donaldlyons17]

Right!!!!!!!

[@lanceroparaca1413]

Shit looks even worse with the right maths

[@donaldlyons17]

@@lanceroparaca1413 Yeah sometimes I wonder if their math is off so reality is not exposed!!!

[@ericharrison6418]

During hyperinflation the only ones who win are those with indispensable goods or massive debt. When money is worthless it doesn’t matter how much you make.

[@katiedickinson7866]

The motion sensor night light are fabulous!! We love them.

[@richardjewers2611]

This is good information for people who cant control impulses to get nice things a monetary system needs dept to operate

[@Dazzo91]

Always remember and never forget, “You’ll own nothing and be happy”

[@davereiland9921]

If that’s what the tunnel rats want, that’s how it’ll be.

[@TaxinGigs]

Nope. I will never accept this phrase.

[@Dazzo91]

@@TaxinGigs and how are you working to resist and oppose central bank debasers and WEF planners?

[@TaxinGigs]

@@Dazzo91 WEF?

[@Dazzo91]

@@TaxinGigs World Economic Forum

[@Joce123]

In MINNESOTA and in NORTH DAKOTA kids go to college for free if their parents earn under $80,000 a year.

[@matthewy3950]

Many Americans are not making sacrifices, many Americans are stubborn. Once we reach a certain level of living standards we do not want to level down. We want to keep being on that level or go higher even with inflation. Americans will never stop going to Starbucks or buying new shoes every month, they will never reduce their amount of driving, they will never sell that expensive pickup or SUV to trade down to a smaller used car or truck that can be paid in cash, they will never turn the heat down or turn off the A/C on a hot day, they will never turn the lights off in a room not being used, they wont even sell the abundance of stuff sitting in their garage to make a few extra dollars. Then when things get tough we complain, instead of adjusting, we complain and blame someone, we blame the government, when in fact it is our own fault.

[@oliviacarriveau]

Baby step 1: Toilet motion sensor night light ✅️

[@jaynez9027]

The student loan advice is solid but millennials are too late 😂. I hope the 17/18 year olds or parents are listening!!

[@leahwolber7082]

Oh yeah, we’ve got plenty of student loan debt and are already lecturing our kids against college debt.

[@Vazcov1609]

​@@leahwolber7082 Hopefully that includes you funding a 529.

[@TShirtAndReeboks]

I'm an older millennial already talking to my kids about being careful with student loans.

[@toddprater14]

Go to trade school learn a skilled trade if college ain’t your thing, you’ll be making more than most that went to college unless they are a doctor,dentist, nurse…problem is these young kids don’t want to get “their hands dirty” and work a blue collar job…so they get a liberal arts degree and owe 70k in student loans and they are working at target…

[@sandzilelazyfxvilakati7900]

0:18 "U.S. Billionaires Got 62 percent Richer During Pandemic. They're Now Up $1.8 Trillion"... nearly half the debt!

[@naknowbte5951]

The economy right now is just not great. I am a 29 year old, that has paid off my credit cards, thanks to covid paid off my college loans. Even with that said, affording basic needs is still a struggle. Trying to afford my apartment with other basic needs like food, utilities and gas. half of my post tax income goes to rent. trying to save is a nightmare right now.

[@thedude5040]

Get a roommate

[@PeaShooter1997]

Please make a video giving your opinion on Robo Advisors and whether or not they are a good idea.

[@JPOlmin3000]

The Home Alone thing killed me.

[@Havre_Chithra]

By the time I graduated, most of the jobs that required the education I got pretty much all but abandoned that requirement and will now pretty much hire anyone with a heartbeat.... I wasted 1000s on education and missed out on years of earning a wage and investing. I am pissed

[@cassiejacobs4197]

Last year, I was working full time, budgeting groceries, unable to afford date nights, and missing time with my kids. Now I learned how to make money online. Now am a SAHM, homeschooling, and making profits every week.

[@kingbush9328]

Everyone needs more than their salary to be financial stable. The best thing to do with your money is to invest it rightly, because money left for saving always end up used with no returns.

[@ningyen1444]

Who is your financial coach, do you mind hooking me?

[@maxiecharles2842]

Am looking for something to venture into on a short term basis, I really need to create an alternate source of income, what do you think I should be buying?

[@cassiejacobs4197]

Crypt0currency/stock investment, but you will need a professional guide on that.

[@cassiejacobs4197]

Facebook 👇

[@honestmovietalk]

2:10 Hell yeah I was blasting Avicii all day long. God I miss Prime EDM 2010-2016

[@shantanunakhare]

Big fan of Ramsey’s show from India❤

[@prestonlarayapp8043]

My wife and I just cut up our Credit Cards and Vowed to never go in debt again, after hearing this we refused to be “just another statistic”.

[@lukep757]

I mean, you could use them and just pay them off. That way you actually come out on top over the credit card companies by earning rewards.

[@matthewcaldwell8100]

Remember that the next time you need medical care that you insurance denies.

[@CambieSweets]

I have no children, I drive an 04 Corolla (bought at 7K cash), I live at home so my fixed costs for living expenses are low. I have credit card debt but refinanced them with a personal loan at a lower interest rate and paying them off. Only 6K more to go. I do not use credit cards anymore. Student loans are the biggest hurdle but I work in a sector that will forgive them. You can leave a legacy and invest in other ways besides buying a house. You create your own dream folks! Do not allow outside messaging to pressure you into buying things that will set you back! I talk to younger people about student loans all the time. Millennials learned the hard way. If I can help them not make that same mistake then it’s a small win 😊

[@jacobcooper269]

Love it, but credit cards can work in your favor so long as you're not using them to expand your purchasing capabilities. I use my every month for utilities, groceries, gas, etc and then pay them off before the statement closing date. That way I get that 2-3% back as if it were a discount on these expenses.

[@kpdkchristian2570]

Love seeing you branch out on your own. You have a lot to offer outside of the Ramsey umbrella. Loved your interview with Graham and Jack too, quality content.

[@HeadStronger-HS]

I recently heard a story about a boomer couple who bought a house and an airstream when they got married and started out. They have been enjoying the airstream for 30+ years and the house is 1.5 million now. That blows my mind.

[@roblapekas1536]

I had a saying burned into my mind from my grandparents and parents. Never pay interest on money you have not earned yet.

[@Walter-wo5sz]

People need to start asking why colleges charge so much. And why the price surge occurred at the same time as student loans came out. Just like medical costs skyrocketed after the affordable health care act.

[@thedude5040]

The two are not the same. The affordable health care should of taxed people more

[@austinjoelstephens]

My mans preaching

[@jacobcooper269]

@@thedude5040 You have no idea what you're talking about. The "Affordable Care Act" was a godsend to a handful of corporations at the expense of the end-user. No tax-rate was going to undo the fact that you just the healthcare markets towards becoming an oligopoly by making it too expensive and too cumbersome for competitors to remain in the market, let alone enter and compete against the uber-corporations that had the capital to meet compliance via their army of administrators and attorneys. If you actually wanted to solve the problems of our healthcare market then you have to know the history of policies impacting the markets. It goes as far back as the 1940's when progressives destroyed the much superior cash-based markets by introducing tax deductions for employers that purchased insurance for their employees, giving Big Insurance dominance in the once cash-based markets, then you introduced Medicare and Medicaid which established the largest buying pools, creating the perfect recipe for a broken system of exorbitantly priced healthcare goods and services.

[@jacobcooper269]

Exactly. Barack Obama, during his tenure as president, also pushed for what was effectively 100% government control of student-loans, compounding the issue caused by their decision to have the federal government back student loans half a century ago. They're setting this market up for failure and I have no idea why. It's either ignorance, or controlled demolition for their own ideological interests.

[@thedude5040]

@jacobcooper269 the cash based market is returning. I'm sorry your ego prevents you from seeing it. I still stand behind my statement. Either we tax the hell out of everyone for true universal health coverage ,which I support; or we do away with insurance and return to cash and let poor people die in the streets.

[@GhettoGatesss]

I have go from almost 90k in consumer debt down to less than 50k since I found you and Dave less than a year ago. Sold a motorcycle I wasn’t using, paid off 3 credit cards, got rid of a loan info-signed and only have $9700 left in CC debt, other then that I have my truck which is down from 42k to 25k, all of this is possible. George taught me so much in a year and I feel so much better knowing my money will soon be all mine instead of the credit card companies

[@engrpiman]

As a late 30year old I'm so glad I purchased a house in 2015 before things went crazy. I only use credit cards for the airline miles. I pay it off in full Evey paycheck.

[@dustinjohnson1410]

I agree. I purchased my home when I was 30. It was a terrible idea short term since we really couldn't afford it, but I had a clear career path that has allowed my income to double in about 6 years.

[@jeannettejinny]

Internet sound 😂😂😂 Good Times !!!! When we didn't have any financial decisions✨

[@Jbridge621]

George, if you like the toilet light let me suggest very narrow glow in the dark tape on the top edge of your baseboard leading to the bathroom. No one can see it and ambient light charges it all day. It may make your hallway look like Tron at night but everyone can find the bathroom easily 😊

[@DailyElectrician]

I was waiting for "Coffee every morning" lol

[@nathanmartin9308]

The last time I checked responsibility was never cheap....

[@amireallythatgrumpy6508]

It' cheaper than irreponsibility.

[@blissmaster71]

4:59 used cars have become pretty expensive as well. you either know a mechanic or are one, and can buy a really old cheap car with cash, or you have to borrow to get a reliable car

[@shawmutt]

College: get a job with tuition reimbursement. That's usually $5250 a year.

[@StewMain6]

Glad we bought our home 6 years ago. It was at the top of our affordability at the time. But since then, home prices in our neighborhood are up over 50%. Our wage growth over the past 6 years has allowed us to live comfortably now but if we were looking to buy today, it would be a stretch like it was 6 years ago.

[@Nerdbuilt]

When I was 16 I thought student loans were ridiculous lol glad I didn’t fall into the college trap

[@jamesp8459]

I dated a woman that had over $300,000 in student loans and was making about $60,000 a year.

[@Boostleaked]

Marry that gal…😂

[@johnfernando5429]

I use my credit card for fraud protection.

[@leonardocespedes7876]

God bless u all 😁

[@connorchiselko]

You forgot to mention cell phones and cellular providers. People could save hundreds or thousands every year if they didn't pay for data they don't use or buy overpriced phones.

[@thatclutchgaming1059]

I agree! I switched from T-Mobile to Mint and went from $70 a month to $15 a month. Should have done this a long time ago

[@OlivierCaron]

Not sure in the USA but in Canada if you finance your phone they give you a "rebate" that locks you in until you make the last payment (and if you want that rebate on the coolest iPhone, you must pick a plan that is more expensive even if you don't use the data...). Paying it outright means you can move between companies when they have Black Friday, back to school, Boxing day, etc., offers. You save a lot more than the so called rebate they give on the phone with that freedom.

[@thedude5040]

I dont think people just buy the latest phone anymore. I see most people wait until 2.5 years to 4 years before buying a new phone

[@johntracy72]

Especially IPhone. Those are well over $1,000.

[@jacobcooper269]

These are markets in need of serious deregulation. I want cut-throat competition, but these big providers would much rather retain the current model as it makes it too expensive for any real competitors to enter the market, while they effectively act as a cartel and set the price. Hopefully with Starlink investing into satellite services for run-of-the-mill cell phones we may see some real competition again.

[@BagsNBaguettes_327]

Car payments are the mantra of the middle class…

[@Boostleaked]

Are you saying those luxury cars in the projects are paid off?

[@jacobcooper269]

I thought this too until I actually met a rich person and had this discussion with them. They scoffed at the idea that I should pay cash for my vehicle and told me that you're better off financing it with as low of an interest rate as possible while investing that cash into a mutual fund with a steady APY. This person is financing their wife's car even though their net worth is around $30m. Blew my mind.

[@lucasjohnstone1272]

I am so happy that I cut up all my credit cards and paid off my car 3-4 years early and my student loans are poof 💨 gone. Now I’m just saving and investing money and will buy a house once I have a 25% down payment, minimum.

[@mamabear090]

Millennial here - feeling the squeeze but thank heaven I have no credit card or car payment! No way it could work with that dead weight.

[@tehcowgoesquack]

I’m 21 and have a credit card but I pay in full at the end of the month. I also have a car from 2007 that’s fully paid off. I have zero debt right now. And I’m also thinking about going to community college to get an associates degree since a lot of jobs in my area require an associates and it would be a lot cheaper to do so, plus I graduated high school in the top five in my class. I refuse to be broke and live on 3 dollars a day again and I’m making sure I’m setting myself up for success.

[@Joce123]

It is a good idea to delay having children until you not only are debt free but also have about $15,000 for a day care fund.

[@TShirtAndReeboks]

That would be a good idea for some, but other people may value having children when they are younger. We had kids in our 20s with much less than $15,000 in the bank. We're fine financially now, even though we had to be frugal the first several years.

[@Joce123]

@@TShirtAndReeboks SEVERAL YEARS of being frugal??? Poor kids:(

[@richardjewers2611]

My teachers told me don't use credit cards but your not obtaining wealth without dept

[@Stonewallx39]

Yeah I don’t know about the advice to stay away from credit cards. We use a travel rewards card from a national CC company and the rewards usually pay for 1 vacation a year we otherwise couldn’t afford. We just use one rewards card for our normal expenses and pay it off monthly.

[@laszlobauer5274]

I always wonder what would happen if nobody bought new cars who can't afford them and my take is that maybe manufacturers would make new cars less fancy and more affordable. I can't wait for George to make a video about which affordable new car to buy.😅

[@shawmutt]

I bought a new Honda Fit for cash. Best car I've ever owned, and it was only $19,000. I plan on owning it for at least 10 years, meaning $1,900 a year for basic transportation. Meanwhile I'm paying car payments to myself for the next car.

[@jiggerypokery2962]

University is still good debt if you are an engineer. Took me 2 years to pay off my student loans.

[@jacobcooper269]

STEM (refuse to say STEAM) is still solid, although these universities could easily trim off the fat and stop making students take courses that are in no way pertinent to their major.

[@longbottle]

"Waiting until you're out of debt with an emergency fund with a solid down payment"... so, never?

[@RusskiCommieBot]

George, Economic Geyser is erupting in Yellowstone Park. We are in deep trouble with this economy.

[@chrisforker7487]

Hilarious video, George! Keep up the great work!

[@debtfree_living]

Spot on!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

[@richardtol7395]

Wow, it’s interesting to see the contrast between credit systems in different countries! In the Netherlands, credit cards aren’t as common, and loans are evaluated based on your monthly gross income. Maybe there’s something to learn from the European system to help folks in America manage their finances better.

[@LeMErin21]

I like how George says each letter of AIM instead of calling it ‘aim’ 😂😂 I’m a millennial, and although I’m not doing great with investing, I’m so happy that I don’t have any debt sucking up my income.

[@rishawnn7284]

So things that are avoidable by taking accountable for your actions and use critical thinking before spending your money. I understand the inflation part but the others require being smart

[@LukeWentworth]

Getting my bachelors for free was the best decision I’ve ever made

[@ChristopherR1981]

Student loans are a big factor. The ROI and many of these degrees are poor compared to learning a skilled trade.

[@SuperdutyExplorer]

No the problem is most kids shouldn't have gone to college. Also think alot of degree of choices were shit

[@pinedreams1]

It would be great if you could link to the sources you use in these types of videos.

[@matthewcaldwell8100]

Big secret: he has none.

[@Renee_egan]

Ah the beanie babies😂 I still have a steamer trunk living around at my mums im sure I hope my Mum has me in her Will, at this rate I may only be a home owner by bequest😒 have any hacks, tips advice etc on "beating inflation" im scared to think about what "retirement" for us could be if we can ever get there... Im wondering how different itll become and how many people will not be able to technically "retire" ever

[@greenlantern1986]

George Kamel video that doesn't bang on Credit Cards: impossible.

[@RUdigitized]

Number one is paying rent.

[@emilyann7503]

Was gonna be able afford a house after a few years in my condos. Didn't see the spike in prices. I live in South Florida house taxes on a 400,000 house is almost 9,000 a year plus high insurance due to hurricanes (3000) a year for a 400,000 house. That's almost 1,000 a month without the actual mortgage

[@dmbfannh]

Wow! That is just insane, that's why I rent a small room for 400 a month and save thousands of dollars a month.

[@jacobcooper269]

Property taxes are gross. The insurance I can understand considering the risk, but the endless taxation of a home is immoral. All to prop up a broken system composed of incompetent, vanity seeking politicians who look at you like you're beneath them.

[@christopherteters6216]

Warning: you need credit card debt in a US economy. I followed guidelines like these years ago and closed out my credit cards once I passed an 820 score. Guess what happened next? my credit score disappeared after living life without debt for only a few years and I only learned this when attempting to finance something. Don't go crazy with credit, but certainly don't cancel it!

[@LaurelPearce]

All the "starter homes" in my area are being bought up by corporations who don't care if they overpay on the initial purchase because they will never **ever** sell it again. All those cute little houses a family could start out in and build a little equity in are going to be rental only. Forever. And the ones being built now are all cramped and crowded together and advertised in the mid 300s. Edit: Side note my Dad sold our respectable family home in 2013 for 157k and its estimated to be $350k now. A slightly upgraded house two doors down is on the market right now for $390k.

[@patrickbernier5495]

Would love to take the "Used Car" advice if it worked. No used car is going to see upgrades or refurbishments without spending soo much you might as well pay for that new car.... cars that are 2008 or earlier are not worth putting money into unless you truly love the vehicle, 2009-2018 are probably well made but have that one grimlen that kills the brand forever (ford focuses variable CVT transmission, that was painful) and any brand new car is made more like a cellphone, you gotta be tech savy or replacing the brake pads will trip some sort of security feature..... this advice would have worked maybe 10 years ago but sadly isnt the same anymore

[@johntracy72]

Nissan CVT's are the worst.

[@Taylor-pz2lz]

2:04 Just fyi the example you gave is an increase of 100% not 50%. Also the actual increase is about 66% according to the Fed's website, 2013-2023 the median home price went from 258k to 429k

[@edwinroyal9734]

I was looking through the comments to find yours! George sucks at math and he often makes statements that are questionable at best even when he quotes his source.

[@lanceroparaca1413]

It only makes his points more valid though.

[@Ryan125y]

Honest question how will anyone ever retire without owning a home? My home being paid off by 2050 is part of my retirement plan, I'll only have to pay taxes and upkeep. How on earth does anyone plan to retire with monthly rent payments that likely will increase every year?

[@michaellampe4505]

I liked Ramsay’s student loan doc. That said I highly recommend watching starving the beast doc about how govt funding has drastically cut the funding of higher ed which cause student loans to increase and cut loose higher ed from govt strings attached.

[@BookZealots]

I just got the bill for my propane fireplace, (my emergency heat when the power goes out. Notice when, not if.) the bill increased 44%!

[@pe8841]

Wow

[@illbetherejk3212]

Who is your propane provider?? I work for one and propane has not changed sognificantly in price in over a year. Mid $2.XX per gallon, delivered. (If you have farrelgas.... switch!)

[@BookZealots]

@@illbetherejk3212 It's the rental fee, not the actual propane. I should have been more clear. It is Ferrellgas, but they're the better choice of the two in my area. the other one is more expensive and less professional. =/