I Ask Strangers If They’re Hungover…Financially

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It’s time some of us had a financial reality check about what just went down this Christmas. So I’m asking everyday people if their wallet is suffering from a “holiday hangover” and finding out what they’re going to do about it.
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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.

[@aprileaton3396]

Once you get in the habit of paying cash, it seems normal. Cash flowing life feels so much better than owing and worrying about bills!

[@robinleavitt7919]

I love the boot idea. it's just awesome. I only did cash only and no credit card debt for the first time in 30 years. It feels so good.

[@MrMithosriot]

I got married, then had kids, so... like 15 years ago, I told my family to NOT send any gifts at all and that I would NOT be sending any gifts to them or their children. I spend money on gifts for my kids only. My wife and I no longer exchange gifts. Life is soooooo much easier.

[@jdl9623]

But think of all those happy moments you're missing when they unwrap the gifts with big smiles on their face. Those are moments you'll never get back no matter how much money you have saved.

[@mandy3486]

We send a game to each family. Not expensive but fun

[@MrMithosriot]

@@jdl9623 It's not about saving money. I spend the same amount or more each year on people. I just dont wait till some arbitrary date to do it. If I can afford it, I buy a gift for someone on March 28th, if I cant I dont. Now, I have no stress over gifting, never worry about giving someone something they dont need or want. Spending less on someone than they spent on me. Also, I'm grown, I dont need to spend money to get smiles from my family.

[@leahmcdermott4189]

My family do secret Santa but with a small budget, like $25 maximum. That way everyone gets a gift but it doesn’t break the bank. We love small gift giving. I always tell people not to get me anything but then I end up buying everyone gifts. It’s something I enjoy but you don’t have to. As long as it’s budgeted, it’s good 💕

[@MooMoo69556]

You’re dying alone on your deathbed, and no one is showing up to your funeral

[@Jhosey74]

This was the first Christmas where I actually didn't use my credit card. Still went over the budget I set for the month, but was able to keep going due to saving a little more in the previous months

[@pattiellen5339]

I have a 3 foot fake tree that I bought at Hobby Lobby on 80% off for $14 in January of 2010. Threw some $3 fairy lights on and that has been my only Christmas decoration expense since. Bought my daughter and her family tickets to an Utah Jazz basketball game and, for my parents, a gift card to Bob Evan’s to help fund their Tuesday breakfast-out habit.

[@MT-gi8wp]

I am in baby step #7+ and I hate shopping for gifts and kids these days already have enough toys, so I had 529 accounts set up for my nieces and nephews when they were born. I contribute every year into their 529 accounts for their birthday and Christmas gifts in addition to giving them cash gifts.

[@bawnfordays73]

Even better now that the 529 funds can be rolled to a retirement account. 😃

[@christians131]

I find random boxes and throw a few $20’s in there and wrap it in newspaper. No one’s ever been disappointed getting cash lol

[@cass1249]

We cash flow Christmas. My husband and I created a shared Christmas list on excel so that we know what we bought and don’t over spend. We start buying a few gifts each paycheck starting in October.

[@CDTucker336]

Ive had a Christmas savings account and it helps so much. I dont really notice it come out of my paycheck and having rhe payout in November makes Christmas shopping not hurt at all.

[@Bubbasizer]

I think I spent like $350-$400 ish this holiday season. $200 of it was a cash gift to a good friend of mine her birthday is on Christmas. The rest of it was toys and candy donated to strangers...

[@darex0827]

I start purchasing my gifts in October, cash flow everything. Christmas never breaks the bank, my finances take priority.

[@MsRoun]

I love watching the street talk. Please make more. 😊

[@d.schmidt16]

The advantage of paying with cash, whether paper cash or bank account cash, is that you pay once and it is done. If you put Christmas on a credit card you pay 2x, at the register and again on the monthly bill when you realize just how much you spent.

[@tatianastarcic]

I don’t know how but you’ve managed to package an unbiased analysis that is more entertaining than the sensationalized segment of economic and financial news. Thank you for your efforts to be the signal and not the noise. I understand that the economy is currently in a downturn and that we must wait for things to get better

[@Mathew-zs3nz]

As hard as it may sound you can plan for the recession. If you are working, find extra work and get an Invest--advisor. Protect your deposits by having enough cash in short term fixed income. Then cut your expenses. Minimal insurance, cut utilities.

[@ScottKindle-bk3hx]

I think the current market might give opportunities to maximize profit within a short term, but in order to execute such strategy , you must be a skilled practitioner

[@CraigLloyd-fz6ns]

Even if you have a humongous income you still need to draw up futuristic plans because anything can happen. One could lose one's job or whatever. Investment cannot be overemphasized. About your advisor, how does one reach pls

[@Miakate-f3l]

I promptly did some research on Margaret’s past. She can control herself well. Her credentials are solid, and it seems like she was the subject of a careful examination. Foreign investors from countries other than the United States can also use her services

[@wan3416]

We saved throughout the year, and stuck to the budget. Did t have as much as last year but that’s just fine. It’s all about Jesus and celebrating with family

[@justin_sample]

Cool app but why are we paying even more to use a budget app when it’s free in an excel sheet on your phone? Defeats the budgeting purpose for those trying to save on dumb purchases

[@mf3610]

App has a free version

[@austinschlichting]

My wife and I are a little over 4 years into the Ramsey plan, with the last year and a half on Baby Step 4. We budgeted out our November and December budgets so well that we even have a few hundred dollars leftover to add to our vacation fund.

[@clwest3538]

Our family is in a situation where there are only 2 grands and we do not purchase 'things' for the adults - mainly because if they 'want' something, they are able to get it when they want it. Our time is spent just 'being' with each other - maybe a 'gift' of a favorite food treat - special cookies, nuts, etc..

[@melocoton7]

I use my CC for everything to get the points 😅 but I pay it off immediately so I don’t pay any interest on it. Zero debt.

[@catherinefrancis5827]

Every Dollar budget app is the bomb 💣

[@sanctified1ne902]

No gifts this year for anyone, including our kids. We just focused on being present and enjoyed everyone’s presence over any presents. Our adult kids are already saying they want to do no presents next year too.

[@DPickho1]

Our kids made gifts for each other this past Christmas. Super sweet and creative.

[@velayuthman]

My wife and I have re-budgeted and will be putting $90,000 a month into our portfolio this year. We live off of my income and invest all of hers. Having a partner who shares your goals is powerful. Are we on the right track to achieve 7-figure gains?

[@blaquopaque]

Don't divorce... Behave and good luck.

[@kansasmile]

@zullard565 Exactly, a good number of people discredit the effectiveness of financial advisor, but over the past 10years, I’ve had a financial advisor consistently restructure and diversify my portfolio/expenses and I’ve made over $3million in gains… might not be a lot but my portfolio can stand the test of time

[@gagnepaingilly]

@@blaquopaque Kinda irrelevant, if they get divorced the assets will be split down the middle regardless of who "earned" the money.

[@sommersalt88]

@@kansasmile My partner’s been considering going the same route, could you share more info please on the advisor that guided you to such impressive gains?

[@PatMaddox]

$90k/mo is kinda light, might see if you can trim your spending a bit otherwise there’s a good chance you go broke. Maybe cut out lattes for a couple months and see how it goes?

[@audreywilder8197]

I love this…. And George of course.

[@DiamondHandsDan]

3:58 new favorite meme

[@Susanhartman.]

Understanding personal finances and investing will most likely lead to greater financial independence. By being knowledgeable about money and investing, individuals can make informed decisions about how to save, spend, and invest their money. A trader made over $350k in this recession influenced market.

[@mariaguerrero08]

Stocks are pretty unstable at the moment, but if you do the right math, you should be just fine. Bloomberg and other finance media have been recording cases of folks gaining over 250k just in a matter of weeks/couple months, so I think there are alot of wealth transfer in this downtime if you know where to look.

[@ThomasChai05]

I totally agree; I am 66 years old, recently retired, with approximately $1.2 million in external retirement funds. I am debt free and have very little money in retirement funds compared to the total value of my portfolio over the past three years. To be honest, I didn't do all this alone, but with the help of a financial advisor. Having one is currently the best way to trade in the stock market, especially for people nearing retirement.

[@mikegarvey17]

@@ThomasChai05Mind if I ask you to point at how to reach this particular person assisting you? Seems you've figured it all out unlike the rest of us.

[@ThomasChai05]

Credits to "Camille Alicia Garcia", she maintains an online presence. Just make a simple search for her name online.

[@diane.moore-]

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

[@mariorta5017]

After two years of been paying off our $320k debt including our mortgage, we (my husband and I got little crazy this year. My husband upgrade the only tv we have at home, I gave him a sonos speaker for this collection. He got me $600 dollars on clothing and shoes, I got a bike and an stepper machine to workout at home and thats all we got no gifts for nobody else. We enjoyed the family for dinner and lunch, we play some bingo. And we are just waiting for 2024 to get back to work and save as much as possible for the new year. Life is great after paying off the house and no debt.

[@shanep2760]

Most of my nieces and nephews and teenagers now, so they all got cash, easy peasy

[@jasonk446]

I admire that young blonde girl. She seems very financially responsible.

[@IAmebAdger]

Why not just celebrate Christmas with a sense of community and/or spirituality instead of commercialism? Christmas wasn't about material things until recently in our history anyways.

[@gene_takavic57]

Concur. It seems all holidays are becoming this way. Watch the documentary "What Would Jesus Buy?".

[@libbysworld7649]

For the past 3 Christmases, I have budgeted all of my spending for the holiday. Presents, good, wrapping paper, etc. It's been a game changer. It started off at $400 the first year, then $600 and then $850 this year. Saved every paycheck in a sinking fund for this purpose. It's worked beautifully. If I didn't have a plan, I'd be a wreck!

[@donnahampton3632]

I have a line item fund in my Every Dollar budgeting app for Christmas and birthday gifts. I made a list of relatives I buy gifts for, and I multiply that by the per person dollar amount. That's the annual total. I divide that by 12, and that's the dollar amount that goes into the fund per month. Super simple, so the hard part now is remembering everyone's birthday. Fortunately, I have that recurring in my phone calendar. Bada bing!

[@josephlabranche4889]

Boot money 😂 i like her

[@emmanueljaime3641]

Not me only spending $40 for everyone and using my credit card points I've accumulated to get gift cards for others 😅

[@stuffykong]

Honestly, this is a good strategy

[@racerx6]

If Americans would act like mature adults, they wouldn't have debt problems. Can't you just enjoy spending time with your family? Not spending money?

[@impressionsofjapan8683]

The cut to Dave had me burst out laughing.

[@thomasveleba9261]

I literally budget for presents throughout the year lol

[@justinlarson4273]

boot money lady has it figured out.

[@heatherfitzgerald7260]

We didn’t set a budget. We have no clue how much we spent. We took out tithe, retirement, paid our bills, and pretty much spent the rest on Christmas. Only items on our credit cards were online purchases. We usually have a good surplus left over each month, so hopefully we have enough left in our checking account to pay off the credits cards when we get around to balancing our checkbook.

[@TS1023TS]

Can’t wait to see this video

[@bertblue9683]

Why anyone spends money on gifts is beyond reason. Christmas has been hijacked and a total scam. Let's spend a day with people we haven't seen for a year and we don't like their company and pretend we had a good time all while buying them presents that they don't want or need.

[@joepep5434]

Started saving for next Christmas on 12/26

[@fsm12385]

Credit card companies are like Casinos the house always wins the most !

[@rhiannondelarosa8675]

What I do each year is create a gift idea list for each person in my circle. I then add up the price of each item combined and will take items off of my list down to my budget. I'll save up the money throughout the year to meet my budget and buy gifts as they go on sale since black Friday deals begin rolling out in October now. I usually end up having money leftover or spend the money on little things throughout the holidays, like if there's a potluck I've been invited to.

[@zacharyraper2920]

🥃 platinum is the best. TSA pre check for auth users is great!

[@stewbugz5213]

I put extra in my savings starting every Summer for Christmas. I do not own a credit card! I cash flow all gifts and host dinner for over 20 people! Best advice I took away from the Ramsey show years ago!

[@BasicBeachCommunity1]

Hallmark holiday debt. It's the American way😂😂😂

[@gene_takavic57]

There was a movie on Netflix awhile ago called "What Would Jesus Buy?". It was meant to be a parody but the subject is consumerism and people stressing about going into debt because of "needing" to buy Christmas presents. An interesting watch.

[@tubenachos]

$15k on gifts 😂😂😂 what a 🔧. I like giving but damn I got boundaries and a budget 😂

[@timson7970]

If he has a few million dollars then 15k is nothing. Less than the daily fluctuation in his stock portfolio.

[@charlesluecke7110]

I spent the same as last year....zero

[@1Findawg]

Save every month, works like a charm. This year I have $221 left. Keeping $21 in Christmas gift budget for next year and the $200 is moving to a Christmas Travel budget for 2025. Next years budget is already created and ready to go. Ringing in the year right!!

[@RPMcMurphy33]

I don’t buy Christmas gifts. It’s easy when you stay home and enjoy your decorations.

[@AC-qi9wo]

I only used my Kohl's card spent under $100.00 for my kid's, and spent under $100.00 for 6 Great niece's and nephew's ❤😊.

[@MattRolls5280]

I put everything I buy and bill I pay on my credit card...then I pay it off in full every month. $195 service charge per year and over that is cash back or miles. Best of both worlds.

[@elsavic]

this seems like an american thing... Here in East Europe if your spending money its 99,99% debit cards and cash. Credit is usually used for only big payments like real estate or expensive cars. Rare to see people buying mugs and scented candles with credit

[@rachelburroughs2383]

I have 4 kids and a huge extended family. After recently entering the housing market and dealing with all the interest rate rises and inflation, i decided to do a few gifts for my kids only. And i got my husband and I alcohol as our gift to share.

[@Chrisisnotthattall]

I just buy things across the year and after Christmas when they've been reduced so I'm set in advance

[@BarlowJacob]

I love your opinions but the clips stuck in the video are very annoying

[@glimmmn]

The Kevin Hart and Dave clips had me rolling! 😅

[@ngauyoujin1163]

The Dave cut scene is funny hahaha😂

[@danieljohnson4418]

To deal with my Christmas spending hangover, I'm going to engage in retail therapy using my credit card. 😊

[@jarodfranklin1081]

The focus ought to be on boosting your income, not trying to be a minimally generous as possible.

[@azteca6695]

I shopped at Temu!!! 😉

[@thedude5040]

Wow. I would be too embarrassed to announce that in public. Temu is a market for China to offload trash to poor Americans, fill up our landfills, and allows the Chinese to make a profit.

[@qwerty-gc8tn]

That girl.

[@veritatyson6317]

I purchased NO gifts this Christmas. I focus on the TRUE meaning of Christmas...celebrating the birth of my Savior Jesus Christ by reading my Bible, praying, attending church services, walking through my residence, and thanking the Lord for He blessings he has bestowed upon me.

[@KittyClark4433]

Best Christmas ever!!

[@danwebb755]

Boooorrriinnggggggg

[@judopanda7169]

I’m an atheist.

[@rayzerot]

Praying to sky-Daddy and his son while reading fair tales sounds like a terrible way to spend Christmas! You do you

[@justoguillermomontoya3821]

@@rayzerotbetter than being a consoomer whoore like you

[@crow-vz5lx]

TBH I don't like every dollar. I use just a pen and pad. It's much more clear to me

[@patriciagazey4693]

No spend xmas this year

[@arcane7298]

Hey George. I tried to order your new book on the Ramsey website but couldn't since I have a Canadian address. How can people outside the US get your book?

[@GeorgeKamel]

Contact our Ramsey Concierge through our website. They can help with international shipping! Appreciate the support

[@sohd2283]

I dropped $450

[@User-pu3lc]

Clever 8 minute ad for “every dollar”

[@mensb1936]

George you should get jacked. Ask Deloney to train u

[@azf]

It's misleading to say Mint is going away. They are just combining with Credit Karma

[@motoryzen]

Credit karma. Is made up of a bunch of skeezers. Stating that mint is going Wayne mine as well. Be a 100% accurate giving the statement you made. Which is a fact in the state men. I made which I made from real research about credit. Karma might ... If you knowingly go to work for a long shark To be a hired thug, Common sense should tell you that you're not doing legal or legit work... And you can pretend and live in some false reality. All you want but facts do not care about your feelings on thi

[@matthewcaldwell8100]

Finance guru does man-on-the-street interviews to illustrate the financial irresponsibility of the average consumer. Fails every time. So he falls back on the tried and true rant on credit cards. God, these people are useless

[@randyyoung9892]

This is dumb just take money from your savings and pay off the credit card every month 🤦‍♂️ if you have debt you don't have savings make more money and spend less you will have more money

[@PennyKilby]

I have the perfect solution!! Don't do Christmas!! No tree. No lights. No gifts. No cards. No happy. No joy. No turkey and all the fixin's. Just another day in paradise.

[@Sonic6293]

Can we keep the joy?

[@MagicalFishy]

@@Sonic6293I think she’s just pissed. 😂

[@PennyKilby]

@Sonic6293 that depends on what that "joy" entails....where christmas is concerned. Many years ago I stopped doing birthdays, easter, halloween, valentine's, any and all things that are consumer driven. I am happy and have alot more money.

[@PennyKilby]

@MagicalFishy no really the exact opposite. If I see something I think you need and will apprieciate I buy it and give to you...immediately. All the joy all at once. NO LIGHTS, NO TINSEL, NO MONEY TO THE MAN...so to speak. It works! Don' t knock it till you try it

[@PennyKilby]

What you don't see is that those of us who feel strongly about consumerism and the downfall of a happy and useful society are very very smart!

[@brizzlebuster]

I think this channel isn’t growing like it should because 40-50% of the video length are attempts at humor vs just giving valuable information. It takes 15 min to convey 5-7 min of data because we have to wait thru these silly cut in clips.

[@prezzle208]

Dang bro out here dropping 15k meanwhile me and my wife spent like 200ish between the two of us and still went over budget.

[@motoryzen]

Here's how you put a stop to that nonsense Create a bank account in which only has your name on it. With specific rules in which only your name keeps beyond it. No one else is not even your wife's name Then I only have enough money in that joint account to pay the bills If she needs more money, then what she's actually making via her working, then she can work more hours and she can Create her own bank account from which to spend like an idiot spent a holic If she truly has a problem with this, then that is proof enough. She is a dime a dozen gold digger and should be single This end result is the main reason why more and more men in the recent two plus decades have said." Not no butt hell no"... To the idea of marriage

[@carolinerainey6261]

I bought my gifts throughout the year while they were on sale and kept them in my closet. I also keep an emergency gift closet where I buy cute tea towels and things on sale to give out if I don't have a gift for someone. I have credit cards but I pay the balance of every month (I use them for things like lounge access and return protection).

[@Smithpolly]

That works great as long as you're organised about it. Some people who do that end up over buying so many "great bargain, not quite right" gifts throughout the year that they end up spending more money than if they just went with the "full price , what they wanted" gift. Or they don't have a specific place to store them so they're scattered all over the house and they don't remember they've bought them or if they do remember, are having to turn the place upside down to find them.

[@deejay22able]

Do more of this!!

[@PowerfulMoneyHabits]

I use Every Dollar and budget every month for Xmas. We know it's coming every December, right? I also use that envelope to replace household items like sheets, glasses, jammies, etc because I have enough money to spend and I can get good deals on both presents and household items on Black Friday and through the sales. It's worked for me the past 3 years.

[@Kurtdog63]

When it comes time to buy Christmas presents, I just turn on the song, "Can't buy me Love" problem solved.

[@jonsmith9728]

lol a bit of a different holiday hangover (the captain was speaking haha), happy holidays George and best of luck with your new channel here in 2024

[@zackhep]

Boot money is solid financial concept

[@darcysimental5299]

Not enough money for chicken nugget!

[@Imzadi]

How can I insert the fact that I went to Tokyo this year in the conversation? Oh yeah, that’s right I did all my shopping! I can’t with this guy😂😂😂

[@mattgalindo2695]

Thanks to my credit card rewards from throughout the year, a good portion of my spending was free

[@turnovertheleaf5505]

I blew my budget by a lot (2k+!!!). But, I didn't use credit and still have an emergency fund ect... BUT, I feel SO bad now. It was over so fast and other spent a fraction. Seriously, one person gave me 3 samples from sephora! Next year, I WILL scale back! (I hope..

[@egr3071]

Yikes, samples for Sephora?

[@marylandmonroe]

I have kids, grandkids, and great grandkids. With all of them plus partners, that's enough. Nobody else gets Christmas gifts from me.

[@Pandorash8]

I’ve been doing a sinking fund for Christmas since my early 20’s. I learned from my mum who participated in “Christmas club” at the bank, and used layby’s, when I was growing up. Every month I put AU$200 into my savings account and use that for Christmas shopping.

[@almostawalrus]

Christmas shopping was so easy this year because we had such a tight budget. My husband's family likes surprises, whereas my family likes lists. We were able to do just 1 or 2 things per person in his family which made it really simple. I straight up told my mom how much I had budgeted for her and she chose something for that amount that she wanted. It was still really fun sharing gifts, even if it was less quantity & cost.

[@sarahshealthyrecipes]

Hubby and I chat a couple months before Christmas and decide what we'll spend on the kids, the parents, and ourselves. We cash flow it and use basically his Christmas bonus from work so come January we're not freaking out. Great video 👍

[@michaeljasiewicz1773]

First :P Great job George!

[@melaniea4901]

Cash flowed my Christmas gifts for a family of 6 & 4 coworkers! BS 3 baby!

[@laundrygoddess4]

I use my credit card cash back to buy my Christmas presents for my kids.

[@BasicBeachCommunity1]

Every dollar is inflating since 1970.😂😂😂☹️

[@katespringsteen8220]

Where was this filmed ?

[@GeorgeKamel]

Downtown Franklin, Tennessee

[@katespringsteen8220]

I thought so, we are from Melbourne australia and Franklin is our favourite town to visit, we were just there in May

[@sarahuber8567]

This video is so edited I don’t really know how much people spent.

[@rhythmandacoustics]

That one girl looked like Scarlett Johansson.

[@kristencobb230]

I did a lot of my shopping in Tokyo 😮

[@BasicBeachCommunity1]

15k 🔥🔥😂

[@katjones4840]

Edits were on point. 🎉

[@eddieeastcoast6056]

YOUR THE GOAT!