Money Myths From the TV Shows That Raised Us

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Rachel Cruze, Rachel Green, George Kamel and George Costanza-the gang’s all here! We’re covering the unrealistic paychecks of everybody’s favorite TV show characters. How did NYC’s unemployed population hold down high-dollar real estate, and where did they find such generous friends? We need answers!
In This Episode:
• Danny Tanner’s excellent taste in historical real estate on a sportscaster salary
• What is rent control, and why did it have a choke hold on every ’90s sitcom?
• The concept of Seinfeld finally clicks for Rachel live on the air, and George gets mildly harassed
Helpful Resources:  
• Enter the Ramsey Cash Giveaway for a chance at $3,000. bit.ly/SMHHgvwy
• Do you have a Guilty as Charged question for Rachel and George? Send a DM to @rachelcruze or @georgekamel on Instagram! Be sure to type “GUILTY?” at the top of your message so we don’t miss it.
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This Week’s Happy Hour Special:
The Sundowner Mocktail
Ingredients:
1/2 cup white grape juice
1/3 cup sparkling water
1 mint sprig (for garnish)
Instructions: In a chilled wine glass filled with ice, add white grape juice and sparkling water. Stir, garnish with mint, and enjoy!
Pull up a chair to the happy hour you wish your friends were having. Mix two money experts with some hot takes and a splash of nostalgia, and you get Rachel Cruze and George Kamel talking unfiltered about what’s going on in the world, pop culture, and how to afford a life you love.
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[@Imzadi]

My aunt and uncle have a rent controlled apartment. The rent is based on his first month (1975!!) he had the apartment before he even met or married my aunt! They pay $234/month in NYC! It’s a beautiful top floor with elevator one bedroom with a VIEW 🤩 It is totally unfair to the landlord but man am I happy for my aunt and uncle!

[@davidmason777]

Not true

[@battlefrenzie]

We have family friends who've been married over 50 years & in the same apartment in NY Metro area. I don't know their rent payment, but I know it's dirt cheap!

[@stephaniepaul3885]

Rachel’s reaction to Jerry playing himself on Seinfeld is hilarious! 😂

[@mpatreece2726]

OMG! I almost choked on my tea. Hilarious indeed!

[@tylermertes5453]

The Office is definitely the most accurate, Michael even has to declare bankruptcy😂

[@katyedwards3935]

He does? When?

[@katyedwards3935]

@@jire9831 Guess I missed that episode.

[@b.c.2836]

They should do another video, just on the office, lol

[@katyedwards3935]

@@b.c.2836 As a new fan, I'd watch/listen to that.

[@Q.b.9378]

I DECLARE BANKRUPTCY!

[@brittanybecklean2366]

Can we talk about Gilmore Girls and the constant coffee, eating out, and shopping?! It’s my favorite show of all time, but SO unrealistic given Lorelai’s job and her constant spending.

[@eobardthawne324]

I dont remember but I think she ate for free a lot at Lukes.

[@jeremyorwhatever]

Her parents were multimillionaires and Luke was in love with her.

[@LaurelPearce]

As for the coffee they did actually drink just drip coffee instead of Starbucks. But the eating out while having that house is crazy considering she probably made, what, 50k?

[@jeremyorwhatever]

@@LaurelPearce a full meal at a diner was $1.50 in the late '90s.

[@LaurelPearce]

@@jeremyorwhatever sure the diner was cheap but they also had delivery pizza, Chinese, etc…

[@ianowen3456]

Chandler's job was in statistical analysis and data reconfiguration. It was mentioned a few times on the show. It was just a boring tedious desk job. He was also likely a net worth millionaire when he married Monica. When they were planning the wedding, he hesitantly told them how much money he had by writing it on a piece of paper and secretly showing the amount. Based on the reaction, it had to be close to or more than a million.

[@JoelJoel321]

Nah. Because no way would Monica have thought it was a good idea to spend a million. I'm thinking it was probably more like 30 to 50,000 (in value at the time).

[@jackijohnson3778]

It was $30K

[@sharondube1101]

One thing to think about when discussing the lifestyle and apartments on TV shows is that in some cases like Monica & Rachel's apartment on Friends or Jerry's apartment on Seinfeld is that they never changed how the apartment was decorated or set up (except when the girls switched apartments with Joey & Chandler, and the one episode when Monica bought a new bed). The characters also reused outfits. They didn't have something new in every episode like the ladies in Sex in the City. In SITC the couture clothes and cityscapes were equally important as the characters themselves.

[@Steven_H001]

"no one's entitled to live wherever they want" agree 100% it blows my mind how people just decide to move to some big city just to live there

[@13Laynie]

Gilmore girls is my favorite show of ALL time, but they talk about money all the time and the math isn't mathing at ALL!! There is a huge theme of wealth and hard work and it doesn't match!

[@GwenMotoGirl]

Jerry’s career was established, not hit or miss. He was always trying to convince his parents that he had made it financially. SATC made a lot of credit cards maxed out.

[@TH0KH]

That Chris Rock show was pretty realistic, and funny too. Everybody Hates Chris. Lower class family in brooklyn with drugs, homelessness and gangs around, the family just escaped the projects. Dad works two jobs and never gets to sleep. Theyre on food stamps. Selling items to make ends meet. A running joke was his dad having insane tips for saving money and working all the time. Credit card in the freezer, conflict over hidden cash savings being spent. Sketchy dude selling stuff out of his van. Addresses class differences between where Chris lives and the people in the better school across town he got into

[@davidmcbryar7848]

The show I've recently been questioning as I get older and see things differently is 'Married with Children'. A big two story at least 3/4 bedroom house with two kids, a wife that doesn't work, and dad is a shoesalesman in a mall. They always talk about being broke but just to be able to afford the house astonishes me... LOL

[@adamstowel]

Interesting perspective. Curious on your age and where you're from. I don't recall the mwc house being a particularly nice home but pretty average. Completely attainable for a lower middle class Midwestern family. Also, a lot more jobs used to be respectable careers, like grocery and hardware stores. I bought my first house on a nurse's aide wage. Though, I do not think I could do that now.

[@nowthatsurban]

That house was attainable on minimum wage in the Midwest in the 80s no problem.

[@kaelaleedaley]

I thought the MWC house was completely realistic for the house/income/lifestyle of the family! Xx

[@chrisulastone9151]

For part 2, it would be fun to talk about All in the Family and Roseanne. Both had kind of old furniture and lived pretty frugally. Laverne and Shirley had nice clothes but they lived as roommates in a little apartment.

[@alicarter2515]

George, is it Tom Haverford's personality, or his taste in clothes that you most connect with? 😆

[@GeorgeKamel]

Both!

[@Kurodarkness]

In Big Bang Theory one of the characters says they rarely cash/deposit their paycheck cuz they don’t need to and I laughed so hard cuz there’s no way that’s true with how much the characters eat out, pay rent in LA, buy all the nerdy things (which is a lot more expensive then people think) and gas with driving around.

[@calleythompson2781]

If that was Raj, that's probably because he has rich parents that completely bankrolled his life. He rarely spent his own money on anything for years. It's a minor plot line in season 10 that he finally decides to become financially independent and struggles with having to pay for nerdy things and even basic things like rent, because of his debt and expensive lifestyle. If that was anyone else, I agree it can't be true.

[@laurelcamara]

​@calleythompson2781 it was Sheldon. He claimed his expenses only accounted for about 48% of his take home pay, I think? So it wouldn't be that he NEVER cashed a paycheck, it's just that he wouldn't have to cash every one, immediately. He could off a single check for a good while, which would make more sense with a roommate and no vehicle expenses since he refused to drive. Lol

[@sharondube1101]

Also on Full House you have to assume the deceased wife must have had life insurance that would have helped Danny pay for the house until everyone else was able to contribute to the expenses

[@debbiefried3533]

I think All in the Family was realistic. The house was modest, the furniture was old, and no one was "fashionable."

[@Ariannesabinachu]

I'm from the Philippines. I've binged watch this channel 😂 Even though our context is different, I glean a lot of lessons. Anyway, budgeting and getting out of debt are universal. The more I listen to you, the more my mind is fed with money and life wisdom 😊 Great job! God bless you more!

[@brittanybarraclough222]

WHY ARE YOU GUYS ANGRY 😂😂😂 poor George, had me laughing out loud at work

[@kb-wn7cw]

I was raised with the sit coms....Bewitched and I dream of Jeannie and Star Trek. Talk about unrealistic and a never never lad life expectations. I do appreciate you non alcohol 🍸 drinks. I don't drink its nice to have new ideas. I like the shows banter.

[@Roxyfull_]

George “Im being honest. I didn’t know I wasn’t allowed” lol hilarious! 😂 Nailed it once again you guys. Rachel, you’re my girl with the Friends commenting but you’re definitely a Rachel, not a Monica. Rach is more accommodating and goes with the flow, hence, she getting called a pushover. Not saying you’re a pushover but you’re definitely sweet and give me go-with-the-flow vibes too while trying to not disturb or upset anyone. You’re a Rachel Green! :)

[@leilacavender4066]

I recently watched Seinfeld begging to end as well and I specifically remember one episode in which Jerry mentions something about rent and I wanna say it was in the $400 range… regardless such a good show. Loved it! Kramer was the golden goose of the whole series for sure!

[@melissaladd7423]

If there's a show that really reflected real life of struggling families was The Middle.

[@abrareads]

Yes! That or Roseanne.

[@Lifecounselor710]

Yesss 😂

[@Clic03]

Yes! The Middle was my favorite show ❤ of all time. So relatable!

[@Pandorash8]

The Middle and Roseanne are great examples. It also reminded me of Malcolm in The Middle which was quite realistic financially too I think. (I’m Australian, so I don’t 100% get US culture, but it seemed legit to me).

[@bevbayb3029]

Totally The Middle!! I could relate in every way

[@kimberlymitchell7109]

I love friends!!!! Makes me happy to watch them over and over even my teens love to watch them.

[@akamarista]

The OC!!!!!! The lifestyle and the beach!!! Awesome

[@ungphuc]

Remember when she stated it was the last coffee she would serve as her last day at Central Perk and then she found out she had to do the same thing at her new job lol She DID climb from the bottom rung of the ladder George 😂

[@pamp212]

As usual! Thanks so much! My only wish is that you podcasted more often. The Mocktail/cocktail is a total highlight!

[@roynerand1523]

Rachel, Seinfeld is the BEST comedy ever! Go... binge, you won't be able to stop!

[@InTheWord08]

This was a GREAT first podcast to watch. Loved the commentary on some of my favorite oldies. ❤

[@JakeSpradlin2]

Loved this episode! The office is my favorite out of all listed

[@roxannefleming8091]

I love watching this show! And Rachel, my daughter is a MAJOR “Friends” fan also!

[@mariloudaigle7713]

So funny! Look forward to every Thursday. Should be on every podcast list!

[@juliegilstrap184]

Thanks for a mock tail, alcohol is too expensive!

[@DaRKWizaRdGaming0]

When Simpsons first aired it was kinda realistic, but over time just Homers income wouldn’t be able to keep up

[@Paigekern13]

also, cant forget about Rachels start with Bloomingdales & Mark HAHAHAHAH!!

[@alleykeosheyan4779]

Rachel's face @22:14 - priceless! But George, seriously, you can't talk about Kramer without mentioning the "Man-ziere."

[@craigmcdowall552]

As a child of the 1970s, The Brady Bunch was really influential. Mike Brady the architect supported a stay at home wife AND a live-in housekeeper, plus 6 kids. To the producers credit, Mike is shown frequently working in the den on nights and weekends. It was also only a three bedroom house, which was common back then. I thought they had it all.

[@crow-vz5lx]

I can appreciate the mocktail. I hate alcohol and detest people who advertise basically in alcohol and consumption. Thank you guys for not drinking and not promoting alcohol in this episode

[@Paigekern13]

I LOVED THIS EPISODE (i love every episode) but like they say- Youre either a Friends fan or a Seinfeld fan HAHA!!

[@Demonizar]

Explaining Seinfeld was hilarious, thanks for that George, greatest comedy ever then Cheers a second favourite but no apartments in that one

[@Hoosier_Life]

Let’s not forget that the coffee table book about coffee tables was also a mini coffee table

[@beakboop]

Rachael, start Parks and Rec at season 3. There's a quick recap of the most important things you missed and it's when the show really starts coming into it's own stride. You can always go back to 1-2 later once you learn the characters.

[@joybetweenhispaws]

Strongly agree

[@spencermcdermott6760]

I'm with you Rachel! I have 9 of the 10 seasons of Friends on DVD.....the 10th season eludes me 😒 lol

[@bobbyboricua21]

Great episode guys, thanks!

[@p61xbp12]

I feel you GK, I’m same way, I like realistic television was a comic spin like Parks & Rec 😂 you’re fun!

[@ngauyoujin1163]

Always fun seeing their reaction to each other🤣

[@amyoverstreet4224]

Poor George! Also you should definitely analyze Gilmore Girls!

[@kaelaleedaley]

How they can always afford eating out, make-up, continual shopping but they DO show frugal ways when running low on funds rebuilding The Dragonfly Inn and when Rory is at Uni (the first year) xx

[@elisemedina2237]

Parks and Rec!!!! 👏🏼 So good!!!!

[@user-zb2yc2uv3b]

I was hoping you would talk about Married with Children, shoe salesman and the 3 bedroom house. Also, do you remember when the episode of the Office when Michael declared BANKRUPTCY? LOL

[@krystleb4530]

I work remote but recently learned a coworker is a Ramsey fan. I told her about SMHH and waiting to see if she becomes a fan. 🤞🏻

[@jrowlet]

Do you want the date her?

[@ashleynichols3010]

George, you are way cooler than Chandler!! I agree with Rachel about Gossip Girl.

[@tressalewis7004]

I love this show!

[@francoisnguyen6623]

Rachel’s reactions to Jerry Seinfeld show is just so adorable 😂😂

[@firefalcoln]

It’s pretty absurd how in the end of Friends they give up and leave the cheap rent-controlled apartment. Hopefully Chandler and Monica subleased it for a huge profit if they weren’t going to pass it on to their friends.

[@debbiefried3533]

Chandler is MY favorite "Friend"

[@motoryzen]

No love for mr " how uuuuuDOOOOOiiiinnn" ? 😁

[@calialcala1750]

Keep up the good show love the whole Dave family

[@thefrugalcyborgmriii3531]

Before Rachel Green went to Ralph Lauren, she did a couple of years at Bloomingdale’s

[@dahlia42k12]

I like Smart Money Happy Hour podcast!! This one was not very relatable to me and my husband, we never had TV. I love the coffee episode! Or when y’all do an English accent that is just so much fun!

[@angeliamarquis6721]

George is getting mad! LOL😊

[@hylers1489]

I love this!

[@TTaddicted]

Yes, Rachael! Used DVDs is the way to go! We do that too.

[@bamabigfoot]

First, Joey was on Days of Our Lives! Second, Seinfeld is so good.

[@michaelleahy6848]

Nearly out of BS 2, but had to go back into debt to contribute to a Fund me to have Rachel Cruze sing Smelly Cat! :)

[@brightgirlproducts]

On full house. Maybe insurance payout from the mom /wife dying?

[@gMagicScott]

That was my thought. Between possible life insurance and a wrongful death by a drunk driver that could have set the family up well

[@nh7tr]

Very Nice!!

[@lizrozon6308]

I feel Rachel I absolutely love Friends!

[@user-st7rb8se6g]

Blair Waldorf’s wardrobe though!

[@dustinjohnson1410]

Shows that don't take place on the coast seems realistic. That 70s Show, Family Matters, Malcolm in the Middle. Normal middle class jobs, normal middle class neighborhoods.

[@vanessaduffield2927]

The Middle is the most accurate lol

[@StephanieBogart]

Rachel I am with you on Seinfeld. Not a fan.

[@Daphattack]

Carrie was in a LOT of debt. There is one episode where she asks Charlotte to sell her ex-engagement ring just to cover for some stuff for her which is awful. Easily the worst character in TV. Charlotte could afford all that cause she came from a super wealthy family. Darn Ive watched way too much of that show 😂

[@Matt_in_TEXAS]

Come on Rachel, Parks and Rec rocks!!!

[@brightgirlproducts]

I’m with Rachel. Never watched Seinfeld

[@TheSilverLining22]

Me neither. I watched it some but didn’t get into it.

[@ykook7000]

Never watched it never understood the hype

[@AB-sj3tl]

Never watched, but good episode.

[@darla2142]

SATC. I bought Carrie's 32 inch strand of Mikimoto pearls that she wore throughout movie one. Would watch episodes in my pajamas, with my pearls, eating 🍿 and drinking 🍷.

[@nancyhaggard8871]

Love the show and mock tails

[@username9999]

Mocktail suggestion: Lemonade Sparkling water Strawberries or raspberries Basil

[@taylamayde]

6:42 says Monica talks fast as she talks fast lol

[@TH0KH]

I always forget rent control isn't common in the US. It's very common in Canada. Well. I guess its stabilization as you described it, but we call it control. In Ontario, any building first lived in before 2018 can't increase the rent more than a gov set rate of 0-2.5% every 12 months

[@Pandorash8]

Most of my fave shows are fantasy/sci-fi. Growing up I always envied their powers or awesome tech lol. I never envied the Gossip Girl lifestyle because it seemed to come with too many problems.

[@Outsider25E]

It’s sad that I’m watching this today.. RIP Matthew Perry. 😢

[@aliciaz4682]

Based on the title I thought it would be: “Full House” they take the WHOLE family to Hawaii and stay in a fancy hotel and do all the excursions = fantasy! Every sitcom ever, “you got a raise! What are you going to spend it on?!” = idiots with no financial goals Modern family, “look at this is extravagant gift/party we seem to be able to afford without having to make any other changes to our lifestyle” Etc etc

[@harysuper]

20:00 I was waiting for Seinfeld. Kramer will always be a mystery

[@lindaparks4486]

Rachel...watch a few episodes....I wasn't die hard but I love george and Elaine 😂

[@livinwiththeedges8283]

I remember something about the Full House house being about of the deceased Moms family estate, I thought the Mom had always made the money before she died is how it was portrayed.

[@samanthahudgins7696]

Y'all crack me up!

[@Behappy-rf8gl]

Wish you guys would have done Living Single or Martin. I loved those shows.

[@LittleMopeHead]

An episode where you talk about theme parks, like Disneyland, Disney World, Universal Studios, etc. Or the crazy music festival prices.

[@coffeeandasewingmachine]

Also TV shows go on these trips all the time! No way could full house be going to Hawaii and Disney yearly without taking out a second mortgage 😂

[@pescecanella4742]

I hope a second episode of this is coming up about Gilmore girls and The Big Bang Theory.

[@robinsherman8435]

I never watch those TV shows. I have a boring life. I don't even own a TV

[@laurao8099]

Out of the shows listed here I watched Full House and friends and I used to watch a ton of TV but I have really lost interest in watching any TV in the last 5 years or so

[@evijade1]

Will and Grace influenced my best friend to move to NY and go to design school. She wound up selling furniture and couldn’t afford rent, didn’t finish the design degree. It was hard to watch but years later she refers to it as her hilarious life mistake.

[@burritogod59]

Rent control does not maintain affordable housing and I can't believe you guys just said that on this show. Rent control has been proven to be a net-negative on the price of housing. It's great for the few that have rent controlled apartments. It's horrible for everyone else.

[@anabelabertolini9407]

Love you guys

[@mariagotay9854]

Massage Therapist! A masseuse is.... not therapeutic lol

[@sharondube1101]

Sorry to make so many comments this week. The responses just coming as I listen. You asked if shows gave a more accurate look at life in the real world. I'm not watching a lot of current TV but what about shows like Drew Carey, Roseanne and The Connor's? Or 7th Heaven? Even The Big Bang Theory and Young Sheldon talk about the characters salary and finances on a regular basis.

[@lpinman16]

Always makes me laugh 😂

[@christylee6790]

George, check out the guy/man who hated musicals. I watched it with my daughter. When you said Pitch Perfect would be a nightmare on real life that's what came to mind.

[@juliestevenson3401]

Cheers❤

[@ramonalofgren5552]

Cosmo was Regis’ fave drink from Live. First I heard of it.

[@LeMErin21]

Joey and Uncle Jesse worked in advertising some, and then Joey became Ranger Joe. I hope they contributed some 😅 I don’t think you’re missing anything by not watching ‘Seinfeld.’ I’ve seen bits and pieces and was never a fan.

[@karalove3470]

Full House - the mom had just died... So maybe there was a life insurance policy that paid for the house. And he specifically asked his friends to move in so he didn't have to hire a nanny or babysitters all the time!