Don't Let Lifestyle Creep Derail Your Financial Goals | October 11, 2024

[@mariadrukker2557]

I moved into a bigger place last year, and between furniture, decor, and just day-to-day expenses, my savings goals have taken a serious hit.

[@Robby767]

That lifestyle creep is no joke. I got a raise last year too, and I promised myself I’d save more, but it’s so easy to justify small splurges here and there. Before you know it, your savings plan is out the window

[@V.stones]

Absolutely. I started tracking my expenses more closely, and it’s shocking to see how much those little things add up. The other day, I read about how easy it is to derail your financial goals with lifestyle creep-especially if you’re not actively managing your portfolio to grow with your expenses

[@Will54rol]

I’ve actually been thinking about consulting someone myself. With all these expenses adding up, I’m not even sure what’s reasonable to spend and what should go towards my investment accounts

[@louisahernandez]

Smart,. I worked with Nora Jean Erickson, a CFP, and she really helped me put together a strategy that balances my lifestyle and my financial goals. What’s nice is that she offers free consultations, so you can see if her approach works for you before committing

[@Bigwilli123]

That sounds like a solid idea. I always thought advisors were out of reach for someone like me who’s just trying to manage day-to-day spending and save for the future. A free consultation would be a good way to get an idea of where I stand

[@Jayraymond897]

Its worse here, our economy is like a flailing fish, fighting for its life. The normal state of the U.S. economy is actually very bad. Because of this it goes into convulsive spasms fighting to grow any way it can out of desperation. Tricks, gimmicks, rule changes try to stimulate the economy and prevent it from falling but they only bring temporary relief to people since, when you factor in inflation we are declining.

[@paulheny]

People believe their currency has the worth it does because they have no other option. Even in a hyperinflationary environment, individuals must continue to use their hyperinflationary currency since they likely have minimal access to other currencies or gold/silver coins.

[@albertbush9361]

Inflation is gradually going to become part of us and due to that fact any money you keep in cash or in a low-interest account declines in value each year. Investing is the only way to make your money grow and unless you have an exceptionally high income, investing is the only way most people will ever have enough money to retire.

[@paulheny]

I do not disagree, there are strategies that could be put in place for solid gains regardless of economy or market condition, but such execution are usually carried out by investment experts or advisors with experience since the 08' crash

[@Jasperchurchill]

I've tried investing in the stock market several times but always got discouraged by fluctuations of stock value. I would be happy if you could advise me based on how you went about yours, as I am ready to go the passive income path.!!

[@albertbush9361]

If you don't want to crash and burn, you should seek the advice of a fiduciary counselor when you first start out. Fiduciary-counselors have exclusive information and data paths that are not available to the general public. Understanding the direction of my Fiduciary-counselor Tracy Britt Cool Consulting.

[@barbarawest4570]

Keep the Honda. I gave my first 20 year Honda to my son after he graduated college and purchased my second Honda at that time. It's now over 20 years old, looks similarly to the new ones and drives great.

[@prudencek7087]

That first caller needs to fire his real estate agent, cause why would they even suggest he do the owner lending. Clearly the buyer didn't qualify for a regular mortgage. From the moment he mentioned that scenario, I was like, absolutely not!

[@pandafox12]

@@prudencek7087 nobody in that conversation knew what they were talking about. I'm sure no is the right answer in this case, but there are many ways to make such transactions win-win if you know what you're doing.

[@gardenandcalico]

lots of bad real estate agents this episode tbh

[@Marilyn236]

Because only thing the real estate agent cares about is his commission and there were no other offers. Agents work for themselves, not for you.

[@beckyg361]

Agree. Hard no on seller financing. Just wait. Follow your gut. I feel like your real estate agent is pressuring you to get the sale and clearly doesn’t care or know how to handle money. Not sure what the market is like there, but this would cause me to question the ability of the agent. Hope you were given solid comparable reports to determine the listing price.

[@bryangarner3648]

​@@gardenandcalicoprobably lots of new real estate agents desperate to make a sale

[@ellea2541]

First caller - NO WAY, don't do it.

[@davisamills597]

I love these two!!!! Jade & George are the best!!! Does Jade have her own channel? Her story is fantastic, motivating and inspirational ❤❤❤

[@StrategicMom]

My favorite Ramsey personalities🎉

[@JanaSublett]

I came across your channel through this video- case studies are incredibly valuable, and I'm eager to see more in the future! Building wealth involves establishing routines, like consistently setting aside funds at regular intervals for smart investments.

[@RodgerSherman75]

You're correct. I think the smartest way to go is to spread out your investments. By putting your money into different asset classes like bonds, real estate, and stocks from other countries, you can lower the risk if one part of the market goes bad.

[@MaraMaruta66]

That sounds like a good plan. In the past two years, working closely with a financial market specialist, I've built a six-figure diversified stock portfolio. Now, I aim to diversify even more this year.

[@Holly.Anderson92]

Ms Martha Ann Hammerton was my hope during the 'bear summer lost year . I did so many mistakes but also learned so much from it

[@Holly.Anderson92]

I was skeptical at first till I decided to try. Its huge returns is awesome.

[@ChrisGeidner834]

Same here!!! Though I started with as low as $7,000 AUD actually because it was my first time and it was Successful., She is a great personality in Australia 🇦🇺

[@kw3113]

Husband wants to save for daycare but wife isn’t even pregnant? Also didn’t wife say they were a single income family and she is the income. Why would they need daycare then if husband isn’t working? What don’t we know here.

[@beckyg361]

Can’t beat the reliability of a Honda or Toyota sedan. Do your own research and stash some cash for bigger unexpected expenses.

[@YouMissedBro]

If youre too scared to evict someone then you have no business being a landlord. These causals that just "rent out" their previous home because tiktok told them to need to gtfo.

[@mike112079]

😂 I wish Dave was there for that call man!!

[@allthingsjonda5760]

Love these two! Super fun❤❤

[@Joce123]

I just read that at companies like State Farm for instance if you call them and tell them that you have health insurance., you can lower your monthly premium by as much as $100.

[@MisuZama]

Hi Ramseys Team - I hope someone can answer my question. In South Africa, life insurance usually comes split 3ways to include, Life, Dread Disease & Disability. D& D premiums are usually quite high & if you have an emergency fund, savings & medical insurance, seems like money down the drain. What are your thoughts on Disability & and dread disease insurance for persons who aren't really high risk.

[@MONI-bj1ms]

Coach Steve Money answers questions on the live chat. Or email or call the show.

[@brooklinkilgannon6757]

My fav duo!

[@candecarro]

Only do “owner financing” if both parties have their own attorneys. Sure, get a large downpayment, and risk is low (make sure YOU are the first and only lienholder, get guarantees on Insurance, and that taxes are pre-paid. You can do a 5-yr with a balloon payment at the end; and I would add 1.5-2% additional interest rate. That can work.

[@Joce123]

Refinancing is absolutely crazy compared to recasting which can be very advantageous.. I would definitely buy down the rate and wonderful if you could have a loan that is assumable.

[@ljb3135]

Great show, when will Every Dollar be available worldwide 😊

[@mattlaeff724]

I've tried -- I promise you all. I find it nearly impossible to listen, however, without Dave.

[@amireallythatgrumpy6508]

So what are you doing here on a Friday's episode?

[@dmm3124]

In the 90's I was driving with a cigarette in one hand, and a beer in the other hand.

[@Rashaadthegr8]

When you get to baby step 7 you will go from dirt to solid gold.

[@bettedavis9261]

How so? I'm in BS7, and haven't found any gold. But, then again, I wasn't "in dirt" prior to paying off the mortgage.

[@4macsproductions171]

Jade, Jade, Jade!!!

[@darcybuchanan7157]

I want to call in hoping you will give me EveryDollar! Lol

[@MaInfamous]

Go for it! I hope you get it!

[@personaltrainer1]

George!

[@Trustbutverify2651]

Do NOT do owner financing!

[@Trustbutverify2651]

WAY too much risk!

[@Trustbutverify2651]

The suggestion is taking advantage of your youth.

[@SD-rs5gi]

Viva is good stuff!

[@melanieabbondandolo481]

The woman that called was saying the pay is 12-1300 a month. I believe she meant a paycheck which is still a horrible income for a family of 5

[@Joce123]

It depends on how much equity they have You do not have enough information.

[@neliai.7914]

😂 i do that pay things wayyyy in advance when possible lol

[@alleykeosheyan4779]

Me too, I work in the tourism industry, so income gets reduced in the winter months. My gas bill is the biggest expenditure since I live in Wyoming and winters are cold AF so I pay that bill way ahead. That way if work dwindles down to nothing, I have a credit balance on my gas account at least through early spring.

[@veyveye.2985]

😂😂 that dad joke 🤦☺️

[@Sj-_3]

I would love to hear a caller ask the hosts what their annual income is

[@MONI-bj1ms]

All but Dave would say is I'm a debt free millionaire

[@WendyW7508]

I love the viva! The signature cloth, thumbs down on the multi whatever. Nothing else is ok. The first caller. I hope he now understands that is ridiculous on all levels. No! He needs to pay off his mortgage on the home he just bought, and why would he be even open to pondering this level of risk. If they default, he will have to go to court and get them out. Deal with waiting months, deal with any damage or mess they leave, and potentially not be made whole financially at all. Even if a court says he wons, cant squeeze blood from a stone ya know. just all of it is a huge headache. No way. He said it was a competitive market. Which means another buyer will come along anytime.

[@edwardhale2412]

(BS7) Kate needs to serve an eviction notice to the person renting that has not been paying the rent. If the renter is not out, then file it in the courts as forcible eviction. It is not the responsibility of the owner of the property to permit someone to stay there without paying rent or that they cannot afford to go somewhere else. I agree with selling the place, pay the place off, and get the debt down and move on.

[@c.parker8439]

Eric from Boise seems messy. If you can't explain what the process will be, then you shouldn't be doing a deal that banks have not offered to the buyers. Red flags... NO DEAL. Good luck

[@lauralong111]

If you're about to buy another house, you need that full and best sale amount going forward.

[@Trustbutverify2651]

$800 is a lot for groceries for just 2 people.

[@seauxpred1ctive182]

I agree. I can feed my family of 5 for $400-500 a month. Thats cooking 3-4 times a week (leftovers) and packing school lunch for 2 of the kids most days.

[@Mavgro534]

It really isn’t if you get organic quality food…

[@Trustbutverify2651]

@@Mavgro534 Just remember, it's not "organic" unless the packaging states "100% organic."

[@ThePolypam]

Why is Juliette's husband not bringing in any income? No question about that...

[@karenkniffin2915]

Agree. Dave's spidey sense would have gone up on that one. ("Why's Bubba not working??) If they don't have a kid and he's not a stay at home dad, why isn't he working? That was a big miss by Jade and George...

[@gardenandcalico]

Fr and if hes not working, why does he want daycare money?? 😅 Ridiculous

[@ThePolypam]

@@gardenandcalico Sounds to me like he wants a big enough cushion to float them until SHE goes back to work.

[@buckibanker]

This is what I came looking for in the comments. Like how did they both miss that, blew right by it. If he’s so worried get a job

[@seauxpred1ctive182]

I have 3 kids…still have the same a Toyota Camry I’ve had from child #1. No need for the minivan.

[@marcyb805]

Ok Jade if you wear a size 9 you can donate your old sneakers to me! Lol

[@Fishouta]

On first call, and for everyone else out there, it is Real-tor, not Re-la-tor. They are "tors" of real property.

[@gardenandcalico]

Jade you're so wrong about bread! The best method is to have a sourdough starter, spend an hour a week on making it yourself and have the highest quality at the lowest price.

[@pandafox12]

I understand the psychology vs math argument, but I'm taking the 100% match

[@gardenandcalico]

Me too. But I think the advice applies to more people than not so I get why theyre hardline about it. If you literally cannot create that 1k margin monthly, then stopping the match to get there is the right call.

[@pandafox12]

@@gardenandcalico 100% growth beats 30% CC interest. It does boggle the mind to see people in CC debt with rentals/ordinary stocks. Zero chance your risk adjusted returns even come close to paying off 20% debt.

[@DericAnslum]

...correct...Ramsey is for broken broke people... ...The Money Guy is more for mature nuanced individuals...

[@YouMissedBro]

​@@DericAnslum yet here you are crying in the comments

[@brenanator6054]

@@DericAnslumtrue

[@alfveba1]

Didn't better help get busted for being fraudulent?

[@DreMay-o7t]

Jade is so beautiful.

[@candecarro]

Jade asks: “Are you getting a tax return every year?” Such an odd, odd question. Did you mean, “Are you getting a tax REFUND…”

[@Fishouta]

Agreed, lol. And it's not that it's odd. It's an incorrect use of terminology. But hey, that is Jade for ya.

[@Joce123]

Maybe they don't qualify because they haven't been at their job 2 years..like fresh out of law school

[@akuawiafe9412]

Stop carrying what other people think. That's it

[@Hossafy]

Ramsey says he’s not political and then platforms Ben Shapiro? Thus may be where I jump off the bus.

[@stevencook3031]

Why? Ben Shapiro speaks truth to issues. You hate truth?

[@Hossafy]

@@stevencook3031 Ben Shapiro is a hard right personality, he’s not Fox News right, he’s newsmax right. You can’t say you aren’t political and then platform people like him.

[@stevencook3031]

@@Hossafy, OK! Whether you say y or are or not, Ben is bright and correct. He corrects the insane types.

[@Hossafy]

@@stevencook3031 he’s a carnie that is selling stupid people the feeling of being smart.

[@dmm3124]

@@Hossafy What is wrong with that? The nation is shifting to the right.

[@RCGuitar982]

Todd isn't gonna change...

[@Xzavyuh]

You don't need high end bread or paper towel. That's a joke and I cannot agree with 😂

[@Fishouta]

First call went on way too long

[@LittleBlueFeather-bq8fl]

2nd caller please clear your dang throat, had to fast forward that chick...

[@Fishouta]

Why cant Juliette's husband work?

[@zenzei_305]

He is still gonna sell the house to those ppl. Waste of a call.

[@LordBass]

The pace of this episode is glacial. Twenty minutes for two calls. Ugh.

[@lawandahilaire5057]

I agree they need to train them to be like Dave and get to the next caller….ask the right questions early on!

[@notgivingmyemail3381]

I wonder if there is a shortage of callers on some days. Might explain the lengthy conversations.

[@okiebear]

What is she known for?

[@edwardhale2412]

Who is she you are referring to?

[@dmm3124]

Who? We can't read your mind.

[@Joce123]

..

[@meganw7261]

Ben Shapiro wtf? Why have on such a devicive character?

[@amireallythatgrumpy6508]

You must have missed the TRump interview.

[@LordBass]

Opinions I don't agree with are scary.

[@stevencook3031]

So you are woke and a crazy?

[@dmm3124]

@@LordBass Your comment is scary.

[@dmm3124]

It is "divisive." He is not divisive. You can't be smart if you can't spell and swear because you cannot find the correct words to use. If you don't like the content, then quit watching this show.

[@Fishouta]

Boneless anything meat has no flavor

[@Richard-b4f8b]

Vote Harris 2024..fdjt

[@martinwegner9802]

You mean vote being broke

[@TheBellroc]

No thanks I don’t like open borders and migrants getting more benefits then 🇺🇸 citizens

[@amireallythatgrumpy6508]

Voting is asinine.

[@DericAnslum]

...good one...happy trolling...idiot...

[@YouMissedBro]

Of course a Mexican would be in favor of free handouts!

[@candecarro]

Only do “owner financing” if both parties have their own attorneys. Sure, get a large downpayment, and risk is low (make sure YOU are the first and only lienholder, get guarantees on Insurance, and that taxes are pre-paid. You can do a 5-yr with a balloon payment at the end; and I would add 1.5-2% additional interest rate. That can work.