I’m a Self-Made Millionaire. Ask Me Anything.
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- What's up guys, George Camel here, and today I'm answering your burning money questions with answers I got off of WikiHow. I'm kidding. The only thing the internet needs WikiHow for is learning how to urinate in the ocean discreetly. That is a real article, and stay classy out there in those waters. - Ew, gross!

No, I don't need wikiHow today. I'm going to go off the cuff to help you guys out with the questions you have. And a lot of you know my story, going from broke to millionaire and teaching tens of thousands of others how to do the exact same thing. So without further ado, let's get to your money questions that you submitted on YouTube and Instagram and see if I can give you some advice that's worth more than the price you paid for it, which, let me remind you, was free. Don't remind me. But not before you do something else that's totally free, which is click that like, share, and subscribe.

It costs you nothing. It's good for the economy. Hurts nobody. Let's get to it. Kendra's Corner asks, side hustle ideas. How can I earn some extra income? I'm saving for that down payment. Well, good news for you. I've got an entire list of side hustle ideas. I'm going to rattle some off to give you some ideas of what you could do based on your talents, skills, time, and money.

and your locale. Here we go. Number one, work overtime. That's a great option. You can also flip furniture. You can go to Goodwill and buy stuff and flip that. You can sell clothes on Poshmark or Mercari or OfferUp. You can sell stuff on Facebook Marketplace. Dog sit and dog walk using apps like Rover and Wag. And babysitting. Childcare is a huge way to make some extra cash.

House cleaning. Plasma donations. Driving for Lyft and Uber. Delivering food with Uber Eats and DoorDash. Delivering groceries with Instacart and Ship. Teaching ESL for sites like VIP Kid or GoGo Kid. Tutoring on subjects you're an expert on. Cutting grass and mowing lawns. Yard work. Moving the leaves around. Plowing and shoveling snow. Pizza delivery. Ballet parking. Bartending. Joining focus groups and research studies. Hitting a retail job on nights and weekends. Transcription on sites like Rev.com. Being a mystery shop.

photography, videography, graphic design, moving, packing, organization, virtual assisting, and financial coaching. So there's just a few ideas out there. Try a bunch. And if you can make some good money hourly, this can definitely help you save up for that down payment. Next up, S Violet asks, how do I figure out how much to save for a down payment on my first home? Explain it to me like I'm five. Hey, buddy, you want

You want to save up for... I'm not going to do that. I will just explain it like an adult, but in a simple way. How's that? Why waste time? Say lot word when few word do trick. How to save up for a down payment on your first home. Number one, you've got to set a budget. And a great way to do this to figure out how much home should I even be looking at is look at a 15-year fixed rate mortgage where the payment is no more than a quarter of your take-home pay. Once you figure that out, that will help determine how much down payment you would need

to afford that house. For some people, it might be 5%. For some people, it might be 60%. And then you gotta decide, do I need to maybe set my expectations a little bit lower for my first home? Remember, your first home doesn't need to be your dream home. This might be a condo or a townhome further outside of the city, but you gotta go with what you can afford on a 15-year fixed rate with no more than a quarter of your take-home pay going towards your PITI, principal interest

taxes, and insurance. And that will help dictate how much down payment. Next, Justin Davis asks, "What are the pros and cons of waiting longer to save up and pay cash

for a house? This is a great question. And I get it a lot as I host the Ramsey show, people call in and they go, Hey, I want to pay cash for a house. It's an awesome goal to have, but it may take me another seven years. So here's the way I look at paying cash for a home. It's a great goal to have, but if you can't do it in under five years, you may just want to get to the point where you have a really, really solid down payment. You've got a 15 year fixed rate mortgage where the payments no more than a quarter of your take-home pay. And then a

aggressively pay down that mortgage. Here's why. Home prices are a moving target. And for those of you that have been watching the housing market, you know in the last few years, housing has jumped up dramatically. So the house that was 200 grand might be 350 a few years from now. And that can be really frustrating as you try to save up cash and you can't keep up with the rate of inflation on the housing market. So I would say jump in when you can, unless you can pay cash for that home really quickly.

Next up, we've got JSP Eman asks, can you walk someone through the steps of buying for a car with cash at a dealership? Things to be prepared for and things to avoid. This is a great question. Dealerships are known for trying to get you nickel and diamond you, sneaking fees on you. And so here's the deal. You've got to do so much research that you know more about the car than they do. So number one, set a budget.

Save up to pay for that car in cash with that budget. Once you find the car you're looking for, do a ton of research on it and do an inspection yourself and go for a test drive. If you like that, get a pre-purchase inspection on the car, which might cost you 100 to 150 bucks to make sure that there's nothing wrong with this car. You're not buying a lemon here.

Once you do that, you need to negotiate the out-the-door price. This is the most important part. They're gonna try to sneak random fees on you and you've gotta be ready to walk out of there and go, "No, I'm not paying that." So you gotta pay for the car price, of course, sales tax and fees that are part of your county and wheel taxes and all that stuff, and then probably a dock fee, which is probably gonna be somewhere under a thousand bucks. Outside of that, I'm not paying a bunch of fees, I'm not signing up for their warranties, and then be ready once you get that out-the-door price,

land the deal, pay in cash, and by that I mean a cashier's check, personal check, or a debit card. Janae asks, "I am not in need of a new vehicle right now, but I'm curious, where does buying a vehicle fall into the Ramsey Baby Steps? I will be out of Baby Step 2 by this time next year, and after that, I plan to save for Baby Step 3." So for those that aren't familiar, the Ramsey Baby Steps

are the steps that I followed to go from broke to millionaire, and it simply involves getting out of debt, getting an emergency fund in place, and investing for the future. So where in the steps do cars fall? Well, there is no baby step to buy a car. So here's how I look at it. When you're trying to get out of debt and save that emergency fund in baby steps one through three, you gotta get by on whatever car you have, which means you're just making repairs as you need to. You're not getting crazy. We're not upgrading the car during this time, unless the thing completely falls apart, in which case we're pausing debt payoff

and we're going to focus on getting a beater car. Once you're in baby step four, which means you're investing for the future, you've got no debt and an emergency fund, then start saving up in a sinking fund to upgrade that car, meaning you're putting money away every single month in a savings account until you have enough to upgrade and get a better car.

All right, here's one from Joe T. McDaniel. When are you dropping a new single? Now, for those that don't know what any of that means, that is referring to my past music career in which I had a few albums out there. You can search my name on Spotify or Apple Music and listen to my latest album, which is only 11 years old now, called The Great Coward. There are no new singles coming in the future, but we do plan to bring you some tunage on this channel with those instruments in the back. So stay tuned for that. No!

- I am so excited. - Crystal Profitsex, she asked this, "How long does it take the team to edit these videos? They're amazing." Great question. I have no idea. Let me ask my producer, Alex. Alex, how long does it take? - Probably on average, somewhere 10 to 12 hours.

That's a lot longer than I thought. That's impressive. 10 to 12 hours just for the video editing side, not to mention the audio, the sound design. And we have an amazing team here at Ramsey Solutions of video editors and audio engineers and people that are behind the scenes right there that make all of this happen. And so I super appreciate that. And you can tell they're talented. We get comments from you guys about how amazing the production is on this channel. And it's because these guys can just add sound effects like this.

and add crazy video editing effects like this. They're that good. I'm just saying. I appreciate that. Thank you. Next question, Brights asks, what software is used to make your videos? This is a great question. I happen to know the answer because I got to choose the software and I selected Windows Movie Maker on an old Dell Inspiron that I had since college. And for the audio, I make them use GarageBand on an iPhone 13 mini just to keep

Keep their chops up. But no, actually we use Adobe Premiere for pretty much everything we do around here. And I don't know how to use that, which is probably for everyone's benefit. I stay away from the editing machines. Is that correct? Yep.

Nailed it. That's all the time we have for today's questions. Thank you all so much for submitting those across YouTube and Instagram. Great stuff. And if you notice, a lot of the answers when it comes to money point to the same basic principles. Live on less than you make. Create and stick to a budget every month. Don't buy stuff unless you can pay for it in full in cash with the exception of a home. And follow those Ramsey baby steps. I will link to some more info on those baby steps if you're interested down below.

And if you have a question we didn't get to, let me know in the comments below what you want to hear about on the next one. As always, don't forget to subscribe to this channel to get more content like this and be sure to share this with your budget buddy. I think they'd enjoy this episode. Thanks for watching. We'll see you next time.