The Financial Detox You Need in 2024

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Americans’ top New Year’s resolutions usually involve health and money. So, in addition to P90x, Whole 30 or whatever weird cleanse you’re planning on attempting, try my new “financial detox” to get your finances back into shape! In today’s video, I’ll share five things that can help you get your financial act together if you’re coming off a year full of money mistakes and financial fails.
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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.

[@bernadofelix]

In these uncertain times, it's more important than ever to have a solid understanding of how to manage your finances, invest wisely and navigate economic downturns. But my primary concern is how to grow my reserve of $240k which has been sitting duck since forever with zero to no gains, sure I'm all in on the long term game, but with my savings are lying waste to inflation and my portfolio losing gains everyday, I need a remedy.

[@ScottKindle-bk3hx]

If you need advice, consider speaking with a financial advisor. Don't get me wrong, you can do it on your own, but financial advisors have a lot more knowledge and expertise in this area.

[@PaulKatrina.]

you are completely right, Advisors have information and paths that are not disclosed to the public.. I profited £560k in 2022 under the tutelage of my Fiduciary-counselor. Am I selling? Absolutely not.. I am going to sit back and observe how this all plays out.

[@CraigLloyd-fz6ns]

That's impressive! I could really use the expertise of this manager for my dwindling portfolio. Who’s the professional guiding you?

[@PaulKatrina.]

There are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’ Melissa Terri Swayne” for about five years now, and her performance has been consistently impressive. She’s quite known in her field, look-her up.

[@jones9-]

I checked Melissa up out of curiosity and i must say i am impressed by her Credentials. i emailed her already, waiting on her response.

[@thomasorchard]

Paid off my mortgage in December 2023. Completed my 2023 goal!

[@beth3535]

Me too!

[@Rexrif]

Way to go weird person

[@thomasorchard]

@@Rexrif Correct! Because being in debt is normal

[@thomasorchard]

@@beth3535 Took me 8 years... HBU?

[@mirla838]

What was your method? Did you do an extra payment each month, each year?? How?

[@alishadegroot9100]

Our debt tracker is a gaudy paper chain on the wall of our living room. It really makes us want to get rid of it. Also, anyone who comes over sees it, asks about it, and can see our progress, so it keeps us accountable and gets other people cheering us on. Good luck for all of you with your 2024 goals. They aren't just for January, so keep at them.

[@ittakesavillage5461]

How much debt do you have left?

[@briankelly1240]

How does it work? Each chain link represents $100 or something like that?

[@alishadegroot9100]

@@ittakesavillage5461 Our mortgage has $45K left. Then we will rebuild a chain to represent the individual student loans we have (totaling $106K right now).

[@Krinbo]

I am fully obsessed with this and fully stealing it for giving goals this year. You are a genius and you need a raise.

[@dorotheaanderson9482]

Great Job...... We use something similar.....We are on BS456......Targeting The Mortgage We are 3 yrs 9 months and 102K paid

[@getinthespace7715]

I'm doing the "Can't eat it unless I cook it diet" it's for both financial and physical health. No eating out except for special occasions.

[@Red_1976]

I like this idea! Will do the same. Thank you for sharing.

[@blackbutterfly233ify]

Trying this

[@uthmansheikh]

Step 1: Assess the damage. Step 2: Set a goal. Step 3: Make a plan. Step 4: Spend less, make more. Step 5: Track your progress.

[@aliciamartinez853]

So simple... yet, so effective!

[@matthewcaldwell8100]

If it’s so simple, then what is the value add of these financial influencers? Seriously

[@helixfossil1352]

⁠​⁠​⁠​⁠​⁠​⁠@@matthewcaldwell8100 Why the hate? Different people react to different things…. Differently. I prefer George’s content more than Dave Ramsey, and I listen to George far better than Dave. Different generations of people and how they react to situations (debt). And how dare “financial influencers” try to get people out of what may keep them awake at night and or get them to save some money by creating a budget (which most people don’t do.) Also, it’s okay for something to be simple (which it is,) but not have people follow. Just like eating healthy or working out consistently. It’s very simple but people overlook the simple things all the time

[@mariorta5017]

Some of my 2023 resolutions were Read 12 books (done) Save $40k (done) Pay off mortgage by January 2024 ( we paid that off on Black Friday) We have big plans for 2024.

[@thomasorchard]

Congratulations! Mortgage free is the way to be

[@kimwieczorek1879]

What are your 2024 big plans?

[@jessenceq3250]

What's your annual income for reference? What would your goals be if you just made $27k with a rent (including utilities) of $450.

[@jeroldstokes6065]

THANKS. Just what I needed to watch. My wife and I are administrators of our farming business and our own properties, as well as small pensions. 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 passive income online and retire comfortably let's say 3 million bucks.

[@d.i.yinvesting7678]

Considering financial plan

[@myfx2551]

It really isn't about how much you save, it's about how you manage your money. Whether you work to earn income or invest, it still boils down to income vs expenses, so yeah you may look into investment advisors for a strategy that suits your timing.

[@chennaimarketerr]

I totally agree, I'm 60 and just retired with about a million in outside retirement funds, no debts and very small dollars in retirement funds compared to my balance of portfolio over the past 3 years to date. tbh, the role of an invt-advisor can only be overlooked, not denied. Just do your research to find a reputable one.

[@jeroldstokes6065]

This is exactly how I wish to get my finances coordinated ahead of retirement. Can you recommend the financial advisor you used to get ahead?

[@chennaimarketerr]

"Laura Gilbert CFA" maintains an online presence. Just make a simple search for her name online.

[@May-qb3vx]

I paid off my student loans at the end of December. My 2023 goal was met. On to the next!

[@user-nd7oy8kf7t]

I’m a LPN and a side hustle I started last year was mobile foot care nursing It cost a few hundred upfront in supplies but I charge about $60 each visit and have built up a few ongoing clients with pretty minimal advertising. I work 3rd shift full time and this is something I can do on my off days when the kids are in school.

[@cathyphillips679]

Paid off 3 credit cards in 2023! Now, just have the Line of Credit to pay off. This will take longer, but I am going to do it!

[@kylebrown4293]

Side hustle i used to do was audiobook narrator. It has the ability to really snowball once you have a few books under your belt and it's fairly easy to learn how to do. But it does require a time commitment ie for every hour of audio it's about 4 hours of work. But it's a fun side hustle and you get to read for free

[@jakewedge]

@kylebrown4293 Did you have to spend a lot on recording equipment?

[@laszlopatrick]

If you wanna be successful, you most take responsibility for your emotions, not place the blame on others. In addition to make you feel more guilty about your faults, pointing the finger at others will only serve to increase your sense of personal accountability. There's always a risk in every investment, yet people still invest and succeed. You must look outward if you wanna be successful in life.

[@charleskaren3948]

The first step to successful investing is figuring out your goals and risk tolerance either on your own or with the help of a financial professional but is very advisable you make use of a professional like I did. If you get the facts about saving and investing and follow through with an intelligent plan, you should be able to gain financial security over the years and enjoy the benefits of managing your money.

[@user-wq4tx1kd8n]

The stock market rally run is gone, but I'm not sure if equities will swiftly recover, keep falling, or fluctuate in a narrow range for a few weeks, or if things will quickly get worse. I'm under pressure to increase my $300k reserve.

[@guillaumeclement2363]

Trading with an expert is the best strategy for newbies and busy investors who have little or no time to monitor trade

[@Linderch11]

the market is profiting if you are using a good broker or account manager to help out with trades or provide signals

[@ThomasRobinson-pq2zc]

Is this a good time to buy stocks? I know everyone is saying we are in the bull market and all, but obviously there are strategies to maneuver when there is a bear market but these strategies doesn't come common to the average folk, I'm attempting to create a portfolio for me and my children that will at least be $1.2m in value.

[@vicmpedraza]

Our realistic goals for 2024: Pay off wedding loan by the end of January ($10k) Pay off car by end of April ($27k) Start early payoff on my loans in May (not due until December 2024). By end of August 2024, have wife’s loans paid off ($18k) and aim to have mine between $15k-$20k by December 2024($32.5k). Will update as each milestone approaches, Lord Willing! Pray for this game plan!

[@randaray24]

“Side hustle” Teaching piano at the local community arts center - $20 per 30 min lesson, $5 of which goes to the arts center, so $30 per hour.

[@michaelahession4299]

40k + on photography this year! Went from struggling every month to not having to worry quite as much 👍

[@jayumble8390]

A friend of mine told me years ago that he and his wife wasted SO MUCH MONEY eating at restaurants. He was a successful real estate guy and he said that once they woke up to the fact that they were wasting gobs of money they stopped and from then on, made going out to eat a special thing to do vs the normal thing to do. Yes George, you're right! Restaurants are a big financial drain.

[@dawnmorandin541]

Seven years ago my brother in law passed away in a freak accident, he left debts and a financial mess behind, we took it as a sign and sold our house, downsized and became mortgage free, debt free. Everyone says they have time to get organized, save more etc etc but life has a way of creeping up on you when you are not ready. Since that day we have made wills and now live with the freedom of not worrying of when the next emergency will occur. When the interest rates when crazy we just carried on as people around us worried about their mortgage doubling, losing the house or car. When I see a sale or great deal I can buy it and know I have really saved money not put it on a credit card, this week I got a $600 winter jacket for $200 at the thrift store, brand new brand name..most people have no money left after Christmas.

[@jtravel80]

My goal is first to pay off my car loan. Since November 15th, Ive pulled together over 4k, and my normal payment is only $265. Only have $3500 to go. April 26th is my deadline

[@Rocknrolla25133]

My job pays me hourly and is always incredibly busy so when I need extra money, I can just work a few extra hours. This way I get the maximum pay per hour for my extra worked time.

[@jangle318]

My husband took a job October 2022 that’s 100% commission so he started a side hustle on the weekends at a local wedding venue (where we actually had our reception). Money isn’t the best, but he enjoys it and when he works the bar, tips can sometimes be nice. BUT, this past fall, he came across driving limos and makes close to 3x what he makes at the other job. The tips are also much better!! Made $140 in tips working 4 jobs last Friday and Saturday. He’s made close to $300 some weekends in tips alone.

[@alexacox2206]

Financial goal for 2024: pay off our mortgage!

[@masonr1666]

One of the negative aspects of delivery gig services is you may need to pay more in insurance, and it puts wear and tear on your car. So, the money you take in may not be enough to cover those additional costs. That being said, look for jobs that require little to no transportation to save those costs. Like, of you have a McDonald's next door to you. If you have a pulse, you are over qualified. [JK].

[@tyler1673]

Impressive how you present a topic that's usually super boring and stressful. Its still stressful but not boring.

[@victorblas3483]

My side hustle is selling Pokemon cards that i bought within the last 5 years. Tons of them going up in value and people pay good money for em!

[@owenshippy7240]

As an Idahoan, I will not apologize for the ice cream potato

[@Mysticbladegod]

THE WHAT

[@Renee222012]

For our side hustle, we host International Homestay students, in NZ. It’s lots of fun, a great way to learn about other cultures and helps to pay off our mortgage faster.

[@Heero-xn8rj]

I have no debt and still can’t get ahead because the housing market is a dumpster fire

[@Riggsnic_co]

This is quite educational. It's crucial for newcomers to keep in mind that the financial markets are highly irrational in the short run. You should constantly be ready for the unexpected. That is how chance operates. Because of the inherent risks in the market, I always favor long-term investments.

[@TheJackCain-84]

These uncertainties will always be there. Thing is, every once in a while, the market does something so stupid it takes your breath away. If youre not ready for it, you shouldnt be in the market business. or get you a skilled practitioner.

[@martingiavarini]

Such market uncertainties are the reason I don’t base my market judgements and decisions on rumors' and hear-says, it got the best of me in the year 2020 and had me holding worthless positions in the market. I had to revamp my entire portfolio through the aid of Carol my financial advisr, before I started seeing any significant results happens in my portfolio. Been using the same advisor since then and I’ve scaled up almost a million within 2 years. Whether a bullish or down market, both makes for good profit, it all depends on where you’re looking…

[@bob.weaver72]

This is precisely why I like having a portfolio coach guide my day-to-day market decisions: with their extensive knowledge of going long and short at the same time, using risk for its asymmetrical upside and laying it off as a hedge against the inevitable downward turns, their skillset makes it nearly impossible for them to underperform. I've been utilizing a portfolio coach for more than two years, and I've made over $800,000

[@martingiavarini]

Mind if I ask you to recommend this particular coach you using their service?

[@bob.weaver72]

Carol Vivian Constable is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment..

[@bethanyg153]

As always, the perfect balance of entertainment and information!

[@ryanhighfield1225]

My favorite side hustle is officiating sports! All of the hours during the week are after work and during weekends, get signed up through your state's high school athletics association, and officiate high school games and club tournaments on the weekends. For baseball I can make 700 bucks in a full weekend of umpiring. It's what I used to cashflow my college!

[@thefinancialneurologist]

Love these videos! My goal for the new year is to retire at age 50, I'm a physician but I don't spend like one, though I do focus on experiences such as eating out and traveling and saving and investing the rest. Reading "Die With Zero" by Bill Perkins really changed my perspective on focusing on splitting my life into time buckets and retiring early.

[@stevensalter9697]

Max out your Roth IRA in 2024 ($7000) for just a low low payment of $134.61/week in 2024. Monthly? Sure $583.33333333333 (repeating forever!). Happy Saving and Investing! :)

[@onehundredcats]

Me as a bartender/server watching this for advice on how to make and save more money and him telling everyone to go out less 👁️👄👁️

[@cristallatus]

💀💀💀💀

[@thuggyduggy1525]

Simply put, George is the MVP

[@user-rd4jv4zz4i]

Glad you posted this, I'm using this video throughout this year. Thanks George!

[@26Jsnyder]

I purchased your book, you’re the man George!

[@brihal6498]

You got it wrong George. As a Boise-ian those iceream 'taters are real good. Next time ur in town, its my treat!

[@CarsAcrossTexas]

KZbin is my side hustle! Trying to take it more seriously once again to earn more and take out all debt.

[@LindaHarmel]

I'm so happy I made productive decisions about my finances that changed my life forever,hoping to retire next year... Investment should always be on any creative man's heart for success in life..Thanks to Fergus waylen

[@BulentKizilaslan]

YES!!! That's exactly his name (Fergus Waylen) so many people have recommended highly about him and am just starting with him from Brisbane Australia

[@josehenry7205]

Wow. I'm a bit perplexed seeing him been mentioned here also Didn't know he has been good to so many people too this is wonderful, i'm in my fifth trade with him and it has been super.

[@aniniels-hw5iv]

Same my friend, No doubt many people from around the world also trade with him!!!

[@Georgina705]

My brother and I also joined his strategy and we made massive gains at the moment while under training. I am forever grateful to Mr Fergus Waylen

[@Ricgibs]

Though I started with as low as $15,000 actually because it was my first time and it was successful, he's is a great personality in the state

[@lisagardner9798]

Happy New year George!

[@user-jk5um8vt3z]

Happy new year resolutions! 🎉

[@Sleazyy3]

Thank for the video George and the team!

[@malloryjohnson6192]

I am a fitness instructor as a side hustle, making $30 per 50 min class.

[@tylerdodd55]

This man has been unleashed and I love it. " Gluten-free gladiators" hahaha

[@Skittleboys]

Happy new year 🎉 ✨️

[@Rikkiekenya]

Happy New Year 🎉

[@pamelawayne4114]

thank you

[@sellingsolutions2023]

Happy New Year George!

[@sharonrodgers2029]

Paid off my car in 2023 and already have 6 months saved!

[@colleen.odegaard]

I'm 70 and retired, I have $302k in a bank savings account making nearly nothing in interest. I’d like to put it in a HYSA (5%) or should i put a portion in index funds? I have $400k in an annuity. How do i maximize all this to get ahead this year?

[@Curbalnk]

Knowledgeable Investors know where and how to put money in order to reduce risk and maximize returns. You should see a market strategist with experience if you are unable to manage your assets

[@kansasmile]

@bastianrusso No doubt, having the right plan is invaluable, my portfolio is well-matched for every season of the market and recently hit 100% rise from early last year. I and my CFP are working on a 7 figure ballpark goal, tho this could take till Q3 this year

[@kashkat987]

@@kansasmile your planner/advisor must be really good! do you mind if I look up this person assisting you please? i've been holding on to a bunch of stocks that keeps tanking and i'm fed up, if to sell or not

[@Shultz4334]

Thanks for putting this out. I curiously searched for Monica Selena Park and her website popped up after scrolling a bit. I looked through her credentials and did my due diligence before contacting her. Once again many thanks.

[@gene_takovic57]

Also, according to a survey from Statista, Americans have had the same NYE resolutions dating back decades.

[@jandkhilbert]

Clever comparison of health and wealth 🎉

[@danielponder690]

great video as always. my side "hustle" in addition to my main job as an accountant is a freelance musician mainly on bassoon and piano (previous music degrees) adds about 5k a year in income on top of my salary.

[@jacobtakas2846]

Thank you.

[@rachelharrison7961]

If you use your car for a delivery side hustle, your car insurance bill will go up, so you need to include that in your calculations.

[@gene_takovic57]

As well as gasoline.

[@briannasmith2420]

You can use that as a tax write off. Lots of things are written off using your vehicle and cellular data

[@sstamper1368]

Lol u need to coin that phrase "dropping the sauce" because i love it. Thx for the video

[@colesmith4694]

Your opening caught me!!! The will ferrell bit 😂😂😂 sub

[@JamieRedlands]

Starting my 2nd year of doing tax prep. Makes 18.50/hr and a small bonus. Flexible hours around my full time job. Figured it was a good skill to learn.

[@JackSimplesPersonalFinance]

Cool concept!

[@LindseyHarvell-vc4ez]

We make an extra $1200-$1500 per month renting out our two cars on Turo. We don’t use them anyways and of course they’re paid off.

[@Razdasoldier]

For Driving jobs, PLEASE look into local laws. In Missouri, you need special insurance and a class E drivers license.

[@angelaerazo8866]

My side hustle is math tutoring. I make $60 per hour! I have 5 appointments per week!!

[@daniellephillips9708]

Lol droppin the sauce 😅😂 love it

[@rays3277]

4th comment!!!! Happy new year!!!

[@laurab4570]

That fiddle leaf fig isn’t going to survive if it doesn’t get some sunlight sir. 😅 oh, and thanks for the tips. I freaking love whoever edits these masterpieces!

[@crunchingwithcris]

Loved the video George 💗💙💗

[@Spreadthep0sitive]

Preordered the book from the website. 😊

[@GeorgeKamel]

Thanks for the support!!

[@scoutandscooter]

I l like your presentation.

[@cyclonefan34]

Ha the diapers part is funny, mostly because it is true. I was in NYC for New Year's Eve several years ago, asked where they went to the bathroom. They told me there are none, people wear diapers. I said "thanks, but no thanks!" ha

[@spaceman7922]

The intro is golden 😂

[@wendymurray4603]

Uk if you have a job already and make over £1,000 in side hustle it now gets reported to the tax man eBay, Uber, Vinted etc have to tell the taxman if you earn over £1,000 a month or year so now it impossible to keep what you as a side hustle here the UK. 20% is tax on most goods and some services 🤔

[@myaccount9498]

Gosh 20% is crazy high 😱. Here in Australia it's 10% on everything. We have same problem here with side hustles, every dollar earned must be reported.

[@conureron3792]

Droppin’ the sauce

[@grayandgray]

Hey, I can spell check your videos for a reasonable rate, virutally. Win-win! Love your content.

[@2024FingersCrossed]

Happy New Year George.

[@alexpietsch7997]

My New Year resolution is to sell our condo in the hipster suburbs and move to the country town where my wife and I work. After low market sale we can wipe out 20.8k of my 27.3k student loans in one swipe. Plus 750 rent v. 792 mortgage is 2 good years to get into a better position.

[@aliciaamond8148]

If you really like a subscription, you can always pause it/skip it or some subscriptions will do 1/2 off for the next shipment. Never hurts to ask 👍

[@jeffchampeau]

You're confusing zero-based budgeting with a balanced budget. When income minus expenses equals zero, that's a balanced budget. Zero-based budgeting is a budgeting philosophy that requires starting each budget period from scratch and justifying each expense or category as opposed to using a person or organization's spending history as a starting point. Texas Instruments popularized the concept and the US federal government used it in the 1970s. Wikipedia has a good article on it.

[@Krinbo]

My tentative goals are to actually try to have a workout routine and to up our giving. Y’all in the comments have inspired me, so I thought I would share too-what are your goals this year?

[@lisaaustin2699]

You’re hysterical

[@jacydoumas3176]

Thanks. Helpful. BTW - virtual is spelled wrong in one of your slides. :-)

[@katherinetyrrell8810]

Gluten gladiator here 😂❤😂

[@jayess4]

Aye!

[@kathy1501]

Gluten is the devils protein! 😅

[@eyeballs306]

First time here and all the jokes really threw me off. But btwn it all lots of good advice, thank you.

[@StartToDo]

Cool

[@Sostic]

George, I need your help! I actually bought the lizards from Gary's Pet World and now I have too many, what should I do?? 😬😬

[@widescreen1272]

Tell those lizards the entire neighborhood is open with lizard pets.

[@kylepickrem6310]

What’s your guys take on paying property tax/insurance for the year? Bi weekly, monthly, yearly ?

[@andreawales1938]

Love your content, George, but, at 8:12, “VIRUTAL ASSISTING” should read “VIRTUAL ASSISTING”

[@HaviccB]

2023 I got debt free. Now I need a house..

[@AnnieClaws]

My 2024 plans!

[@TarmacSkin]

At which baby step i can start buying books? And at which baby step can i take a break and read them?

[@courtneyjohnson9436]

Public library for us - maybe it would work for you!

[@mikerobinsonii1581]

I'm thinking about starting a retirement account but I'm not sure which one is right for me. Can anyone provide some guidance on their different types of retirement accounts available

[@alibabysunshine]

The intermittent reels are slightly excessive

[@lauriep3651]

I watch these videos but you dont address how to go about debt that is in collections. What to do how to begin to tackle this type of debt. Not everyone has credit cards or credit card debt. If you have only collection debt what are the steps? Dave Ramsey has two videos from one from over 6 yrs ago and one from 2 yrs ago. This part of debt is so confusing and needs to be demystified, Please help people in collection debt to figure out how to navigate this problem.

[@cm01]

He learned how to say Boise correctly :)))))

[@timbmedina]

Let's get it 💪💰

[@GardenUPLandscape]

My side hustle is my KZbin channel. Let's just say it isn't paying for itself yet...

[@RahimBah1]

"The Financial Detox You Need in 2024" emphasizes reassessing and streamlining personal finances, focusing on budgeting, reducing debt, and making informed investment choices to achieve financial health and stability.

[@Sodamanonzo]

Good video. My bankruptcy will be paid off in November. It’s been a long 6 years. I will have no debt other than my mortgage.

[@tdillins]

I spent over $6k in 2023 on eating out but in my defense that was for two people.

[@dustinjohnson1410]

That sounds like a lot, but then I did the math. My family of 4 is probably around $6k - $7k annually.

[@tdillins]

@@dustinjohnson1410 Yeah it's a lot and most of that is through grubhub. I could probably save significantly if I picked up the food myself instead of choosing delivery and paying all those fees.

[@biertie]

was that beer? :)