Are These Money Fears Rational?
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A guys is right to and George, and this is smart money. Heavy hour. cheers.

Butter me timbers. Wow, that that is Christmas and fall all together in a cup. Well, this is the show or two friends who happening. Many experts talk about what you're talking about. Everything from about culture of current events ends money.

And today we're getting a little spooky ratio because we're talking about money fears. But before you click away, because that sounds dramatic and stressful and stuff, well, IT might be. But we're also going to make IT fun.

IT is it's going to be fun and exciting and we're actually talk about what you should be worried about when IT comes your money. But there's some crazy things out there weren't.

And while we chat about IT, we're going to be sipping on a button beer, old fashion, which explains .

the buttery nature, that kind of like a butterscotch, if you will.

I will OK. I thank you very much.

So stick around to the end.

We're going to give you a rating, reveal the costs per glass the end of the episode and is always the recipe in the shown notes. Okay, Rachel, I think you should come clean until the people, why this is your idea, if you wanted to do this episode. This is a catalyst that came from you.

Okay, with one nigh, we are having conversation with some friends, and I have friends in my life. I believe that, sorry, continue that mayor may not go to some would take extreme measures, others would say wise measures about our world today, meaning maybe a little conspiracy theory, but like, if everything you know, if cellphones go down, batteries go down, like then what the next, what they claim would be the next terror attacks.

So we start this conversation and I left that dinner bean like winston, we are so behind and he's like, pab, oh my d like, if that's really the world, like we should just be taken and like, just be done and you go to hear, are you you are because I like how my how much could you survive IT. So that's where this type of of camera I just said, you know, there is an interesting fact that people spend their money in a water money on prepping for something that could happen. So there's a little of of fear in that of like, what's the future going to be? How long could you and witness survive if something like that really happened?

I get an hour. The man, even in a Normal society. I'm like, I don't know that I could make IT very long.

I'm lucky to be here today. I'm not A, I have no real skills. I was never a boy scout know. I was in a wana, which is like the baps version of voice out where they teach you no life skills, just bible drills. Turns out very unhelpful .

skills that without relation, five, yes.

but I can't. Tia, not.

yeah. okay. Do you get scared about the stuff that like do you think about because I really gets I mean, for about two weeks i'm like full on you. I mean, I would say, no, you know people that have a type of old car that is like whatever run whatever that if IT starts on a hill, IT can actually like going .

to drive yeah because .

whole thing you know a day you're like I mean, it's like who I would go to a mocho of if something really did help because I I want to .

be friends with some of those people. I don't want to .

live like that and then it's unfair because .

what are you going to contribute to the winston here, right? But I watched the movie leave the world behind our netflix. The Carrier was in IT.

IT was a big, oh no. I saw the one where um the family goes to the house.

What was that one I mixing my movies the world behind was with.

yes, I watched that one.

The carrio was in the other one crazy. This is the end or something. But I love there. I'm a spoil IT. They're having dinner as the word spending and they're just having a great time as the whole thing comes crashing down and they are like the media, whatever. And I just how I want to be yeah.

do we go to thirty eight and just go to beach just for a cocktail por a butter beer gott.

if it's going to go down, I don't want to be honker down like staring up at IT. I just want to be like a bOlivia go right and my heaven boom here. But I did watch life behind growing up, and that left some traut rauma. Can I be honest onest about this?

Oh my god, I will still in the middle the night every now and then. Just touch win spot. Just that's .

the router .

hasn't happened because what I was a kid, I was a kid every morning, I thought I I going to wake up and I was scarring. And then you theology 可以 go into IT。 I mean, we even know really curt Cameron, really straight us and .

really scared all of us. My parents .

bought us the children series behind the children's version. terrible. I mean, just scared to death.

Yeah, I would say this. I am not. I am cared of giving stuff speaking. There's series. But if I see closed neily laid out on a bed, i'm like, oh, crap, it's happening.

I still here. If I know.

talk about up and then I didn't get taken for some reason that is a real fear, not the like domes day. So what do you think fear can be contagious? Yes, like your environment .

that people you hang .

with one .

hundred percent of, i'm fine. No, no, I think there, yeah, because you can get in your head that you may not even know existed. And then there you are ruminating. We've got more honest of culture.

And so now if you have a phobia, like cool to like label yourself like my personality. Bia, yeah, that's fair.

I have a thing bia.

so we go through some of these common trendy phoby OK look.

I want to try. Guess what they are OK, you really fall the nap .

triphosphate. Uh, T R Y P.

T R Y P.

T R Y P.

I think I was like you to you scared to go on a trip. No, you'll never guess.

I know. I A fear of tiny holes.

Okay, why not tiny hole .

alph bia wouldn't have been more scientific and that you're.

like.

fall in one. I'm surprised you don't know, because kindle gender famously suffers from this phobia.

a serious ly that you're going to fall in one and you get trapped like a cost .

ropy bic think it's like on a scrub daddy sponge. There's a tiny hole. If people do.

don't like tiny holes, please stop IT are you serious?

I can't make this up.

but that's a real small spaces. I've gotten more close robbia cluros bia. I've got a alder of like me on like you like the right of disney.

The avatar or ride is like locks you in. You can move like your legs or your your body. And there's a little bit of you that's like.

what's the medical device is? That is where .

they put you in a very light one .

philaster hoby A T H A L A S S phobia.

scared.

think, deep scared .

of think. Water, dying, drowning.

No, just fear of deep water. I just, you can lead a horse to the deep water. You can get him .

to H I could see that this was an internet .

fascination last year when hash north sea talk was going viral with that creepy version of the yoho. Sailor song playing in the background.

I don't even know that is.

I said I did watch.

have you watched leg, the megatons, the shark movies? Have you? They're great.

my friend.

And I js, okay, so these, are you ready for this? That ocean floor is actually just layer a whole ocean down low, or like, yeah.

that we think they like that .

those in flor, but it's not is just a layer, but you could actually go through IT and there's a whole of the ocean with these like sharks that there was biggest room that are in there. So it's a great movie you should watch is actually kind of .

funny like there's .

like good human.

good humor yeah heard juristic park was originally economy. Thank you for that last one. A regnier bia oh spider .

done is a pretty .

common one. Feel like a lot of human have this fear. Is winston spider killer in the household at you? There's always one person.

Now, you know what I don't do in tennessee has these this happened night. There's some crazy. It's on a may fly.

But IT looks like what I was just this nasty bug with huge, with big legs and all. I think it's just crazy. It's like that I won't do those. I would rather do like a small spider and get IT, but despite kill them, but the flying, big, long, lanky things don't do.

I don't like when people say this happened with snakes, we had a snake in the ground and the guy was like, no, it's a good snake. I like, if it's in my house, is not a good snake, yes. So I feel the same way about spiders.

I go, know those are the ones that eat the bugs yeah. And I go, well, i'll deal with the bugs when they show up. I don't loder them too.

I would like bugs, the spite.

no trust on the .

world property.

right? To get to money. Phobias, chrome phobia or chrome hoby. A scared .

of coins.

fear of spending money or money itself, just a fear of the idea of money. I guess people experience panic or anxiety at the site, smell, touch or thought .

of spending .

money like that's deep, like no child is born, being scared of, yeah, that's an environment.

environmental situation there. So these people, they avoid .

activities that require spending money, vacation, social outing, ings. I imagine you're become like a permit.

like a in severe cases.

make IT discount to pay bills or just purchase the four walls expenses just .

cover the basics.

So you online transactions, I guess that's not scary. And I guess you're still hitting like the payment but and is still .

trade something leaving?

Yeah yeah. We've had some of those calls, not to this extent, but people call into the ramsey show and they have a fear of spending money. They've saved, saved and save, saved. And they have no debt whatsoever. They have over million dollars and they can't let go and spend five hundred dollars.

It's like they don't know how to always want money is like a muscle, right? Being, saving and spending all three kind of takes a two degree yeah a level of practice in doing IT over and over again. We're like, oh, this is Normal.

This feels right, right? Both of all, all of those giving saving and spending, but you don't spend for a long time getting that built back up to know like you're okay. You're okay.

You mindset for sure IT could all come crashing down, right? Here's another moneta bia .

a tiki hoby A A tiki phobia, scared to pay parking tickets.

That is actually decent guess, but it's a fear of failure. So this prevents people from taking calculated risks with their money, like investing, purchasing home. There's a fear that like what if I .

just lose this .

whole okay so it's good to have .

like a good check yeah the resort yeah the risk e of the investment the more be .

aware of but life love is risk you made at some point you've gotten just get over and take calculated risk.

Yes, out of both of those spending money or the investment, which one would you lean towards?

I am pretty risk averse. Why I don't own an ecri pta even with fun money. I'm just like I don't want the idea that I could lose at all scares the heck. Adem, yeah, totally. So i'm .

just not a fan. I'm going to .

do that too. George, we have the same fear pick. See you .

spend money. You're really .

good at IT.

I ve mean I went all well now .

we went to all .

neighed with the kids because my kids physically .

went to an old navy.

I did. What I ve done .

was anyone in .

there are two people and me in the kids, because Caroline had a talker games. So we are like we in because intended. Sy, right now the weather has turned and it's like they are freezing in.

My kids have they just don't have anything. Charles, I really didn't buy a time last year. So like everything is just like they just have a lot .

of cloth for .

winter time since yes.

you don't have no clothing in the house.

It's because the last year, yeah so we went and i'm such a fun mob. So like you have me.

yes.

So shopping spring are getting .

fall in winter.

Close like this is a hard time to do IT.

You know, how to pick out close.

doing everything at this. So when is caring around the closer? maybe? And I took a lot to check out because we bought a good bunch. But again, what we spent verses what we got IT was a great deal that thinks what maybe um I guess I did all of that for my kids. I didn't by myself.

One thing you not only you're the fun mom, you're a sacrificial mom.

so then we get home but is bad. I don't know. I know.

I saw IT was a classic, great. So scrotal in cigaret see a cute target sweater. And I was like, I want that. So I went on the target at George, and I bought three things pick up today. IT is great.

but I was all in the budget.

I had I, but I, but I do. I enjoy spending money. Yes, I do. I do not have any fear of that.

That's i'm proud of you. You're so brain, if people really underestimate your bravery wow.

you enjoy that at all. Is any part of you .

like any money? The thrill of a deal gets me so i'm spending, but I know i'm getting a deal that very few people .

could yeah right?

Like when I went the extra mile to save and my IT feels so much Better than just spending, yeah, here's another one. Guess what this one is? P oping bia.

Fear buying, buying drinks.

very close, fear of poverty. So this triggers extreme anxiety of people scared again, they, they could lose at all. And yeah the impoverish and have nothing so that you know again, there's there's a scarcity .

trauma yeah and it's the extremes here .

yeah last one, generalized anxiety related to finances. So a constant fear or worry about not having enough money to meet your basic needs or securely plan for the future. And this can lead to extreme stress and even paralysis over financial decisions, around saving in debt.

Yeah, we see this a lot though. I mean, money kimbery on so much anxiety and worry because I think for a lot of people, IT is is really difficult right away. The paycheck to paycheck living is very real. And it's like, god, do we have enough just to cover even the basic like that? Is that a real thing?

Even once you get that a dead, they're still a fear of like, what if things get crazy? What if I don't keep the sync? What if I lose my job? What if it's not enough? what? And so there's always the what if is and we're going to help you overcome some those fears today, especially the irrational ones. There are the ones, and people can take this too far. So we want to offered these people some insight yes.

Um and again, let's go through some of the irrational money fears the people have.

That's a good one. Just kind of deep bunking like .

these are the ones that don't worry about O O K that's the first one thing. Like what if IT all crashes and we lose at all overnight? People have that fear that the market .

will completely craft go to zero exactly.

And everything that we work for. And if you went through two thousand eight, like that was a weird, that was a weird time like I was um so if you've experience a big dip or a recession in the markets, it's the closest we could feel like a great depression, right? It's probably oit, yeah.

But statistically speaking, history wise, the american economy, right? IT has stata float. IT has grown. That's really what you have to hang your hat on is that this is what history has taught us and that's what I have to lean on. Not this emotion of like, oh gosh, were different clashes because we just said the market crash .

truly figure out. Think about what you're actually saying there. Every company in amErica goes to nothing. Bankrupts shut down every single company. That's what would have to happen for the stock market to go to zero.

The best top .

companies in the world all shutting their doors and having zero dollars in revenue or profit. That's an insane thing. It's never happened in human history.

So on that side, it's never gonna to zero. Could there be another crisis like we saw where the market drops by forty percent? maybe. yeah.

But even then, if you hang on and you don't let go of that money and cash out, out of fear, what we also saw was the market come back up higher than and then the next few years higher than ever. So we keeps seeing record highs every year. If you just hang on and don't get off the little coasters early.

yes, that's right.

We had a colorado who had thousands, hundreds of thousands buried in their .

backyard because I fear there's a good boy.

texas, and just scared like I don't trust the banks. I don't trust the stock market. We had IT in ten cans in his backyard.

I asked for his address. He did not find that funny. Show up with vel.

that is.

borrow ed her. He's losing money every day. Just inflation. You have to be inflation. And that means investing wisely in the overall stock market with mutual funds and index funds.

That's right. Right next is that the dollar goes to zero.

This one i've seen a lot likely, especially among the crypto brows and the gold lovers. Yes, they say it's all the dollars. Is gonna crumble going to get devalue? The other countries are coming for IT. And so you Better get .

out from the dollar and this may I may say this students like something make correct me on IT because I don't know my world economic, you know, status with every country. But there have been fears of certain currencies around the world going to zero and then another currency taking over. Like i've heard that throughout the years. If you buy into this because this currency is going to go down, then it's going to go, it's gonna eighteen times, which you bought IT for all this. So the dinner was one of these you member, this, and I had a friend and he bought into IT because he was like, yeah, i'm going to buy three hundred dollars worth a because yeah because the .

government going to sit down.

that's right. And the government there is gonna ut down and they're going to replace IT with, like, you know iraq going to come IT was a whole like, you know, thing and he is war swar he was going to make three hundred grand. Never happens.

They makes fear with get rich, quit yes yeah and I that .

I could happen a lot with currently above .

four trading. This what IT is when you're trading for different currency, try to make spread. And there is a lot of spam accounts that under my name and they dmm people oh no going like, hey, I have great investment opportunity.

Are you interested in for x trading and cyp to investment? Very good. And people are messaging me like, you know, you got hacked, right? No, it's a fake account.

He says, George camel with two els and two, three. But this is a big thing out there that people are going hate. Not only should you be scared of the dollar going down, but you should also realize you're missing out on incredible gains.

These alternative is the .

losing some value because of inflation. Sure, but it's still a global standard and ah amErica still got that risk s what you like IT or not, we're still top dog is still there. I'm not worried about the dollar are going to zero.

Okay about this when the fear buying a used car because it's gonna AK down, that is a big one. We hear this a lot .

because I needed by a new car because .

the used cars are just caring right now. Now if you're buying a thirty year old car, are you going to have more risk of that? sure. great. Like if we I think there's obvious your stats you can see in that.

But buying a used car, you guys does not mean that is a crap car because we know people that buy you know six old cars and they're great, they're fine. So the whole idea that is not safe or it's going to break down, it's simply not true because even new car is break, right? You buy a new car within the first years that could happen and maybe solar warranty. But the idea that like no car is going to be perfect, yeah cars .

within the know fifteen, twenty years they have great safety features. yes. And so I have have been fancy or like the lane departure monitoring, and I need that from my a lot of times we justify the purchase based on, well, as I did IT for safety.

That's why we have a six hundred or car payment was because I needed the family to be safe. Guess what your new car is a day after you drive, it's a used car. So get a free purchase inspection, of course, make sure you are buying a lemon, but also understand that there's no such thing as a hundred percent safe car.

All right? Next is throwing all of your savings towards debt because we talk about when you're doing the that snowball thousand dollars, which all people are like that sound enough. So that's a fear. That's a fear. And then through everything you have that and get out of quality.

so you have twenty thousand dollars in a savings account. We're saying he go down to a thousand, use the other nineteen to begin to pay off them, to accelerate the process. That is a legitimate fear a lot of people have yeah .

in the thousand and emergency funds yeah in the thousand and emergency find. I get that be bored like, oh my gosh, you fun fact, I even tried to convince a day like .

ten years ago to change.

to change baby, step one to one month's worth of expenses first is a thousand dollars. And he's like, no, no, no. Stood as grounds became his point. Which I get is, number one, you want people to get quick wins, right, and getting a thousand dollars.

Yes, IT is a it's a motivator to know, okay, I can change my money habits and I can actually do something that's on this list really quickly, right? So that's key. And then majority of emergencies that come up, you can pay with thousand dollars.

And if not, you pause that, that so all save up throughout the month and then you pay, right? Like if if stuff happens like with your roof and it's more expensive if you'll GTA bill later, so like you will have all the money right there, right? So the idea that you can, you know cash low things as they come up. So and we know .

that what four and ten americans have nothing in savings. So this is not the majority of people that have twenty grand sitting around and forty .

of americans can cover four hundred dollars gencer in cash up. That said, that is that is Better than where some people are under you to .

because I think a lot of us, i've gotten a little comfortable, obviously, are not doing great with money, but a lot of people are going. Yeah but I have some savings here so I kind of have a little pat I my credit card as my els safety net when you go in one thousand bucks and no credit or you realized the state you're really .

in yeah and your life, let's give this paid off pick. And then when you get a jump, start what you're making on that savings, how you can build up back faster without payments every single month. When you get on a dead, you're going to get IT back in no time.

I mean, you really are you'll be able to save up so much faster when you don't have a six hundred other payment here or a four hundred our payment there, right? Like IT all adds up so much. And once without a debt, you can get that savings back.

Most people get out of this debt in one thousand and twenty four months as I follow our plan with intensity. So it's not like you're going with a .

thousand box for years.

okay? Fear of losing money through investing and instead just trying to save your way to wealth because investing has risk, saving money, virtually no risk. If you're just putting money in a savings account, it's not to go to zero somehow, but investing IT potentially theoretically more risk.

And problem is your .

savings account earns anywhere from zero percent all the way up to at four percent right now a little more yeah where is investing? We've seen over the the last thirty, forty years in the stock market, we're talking ten, ten, twelve percent returns.

Yes, you're to make so .

much you need outpace inflation, not just keep up with that's right.

Next is just you grew up with financial certainty and so now you're extremely frugal.

So that's a big one is I never had money growing up and I feel like IT at all. We could get back there if you're not crazy frugal for the rest of our life.

And I under I mean, to a degree, when you live through something that's going to determine so much of your habits, right? I don't mean like that. That is very true.

So I totally understand that. But I think that's where dr. Jon learning sucks about facts to your friends.

So if you have the money and you have savings, you you have retirement like you can enjoy some of your money, right? Like you're not actually going to go back to where you were because you're still making an income. You're soa about a budget and spend what you want wants and being responsible with IT. But that doesn't mean because of spending money that are going to go back to where you came from.

good. And that takes time to sort of rebuild a new file in your brain. Yes, yes, a good one. This is the legitimate that I have found myself struggling with. Rachel spoil kids as a new dad. The question, will I ruin my kids if they have more financial opportunity than I did? Because I want to give my kids the best, and I wanted not to see them struggle, but I also want to make sure they have work eph icc, and that they're not entitled.

So this is a real one, as I think through, well, what am I going to do for me as first car in her house and a wedding? Do I want to just pay for IT all out, right? How do I get IT of the right amount of skin in the game? Yeah, how would I youd handle this? As someone who has a bunch of kids who are older.

it's determined upon those three things. You just listed your Price screw, alright, right, right. But give IT determined of like a car or a wedding and that determines how SHE is in life.

It's more about the character race.

Yeah, I think it's the everyday stuff. And then, George, not to correct you, but IT was a great I don't want her to struggle. That is good.

It's good for them. I want her to struggle the .

right way to be frustrated. Yeah to write I read this book and they said when we were growing up, we had helicopter parents where they just like covered and now there's snowplow parents, but they gave the way. So there's no bumps, no obstacles or this walk yet and it's walk and how terrible that .

is for kids. And how do you create the right amount of fiction you make?

Do something they don't want to do. My nine year old, you asked her to, unlike the this russia love. But IT is like, I am asking her to walk two miles to get us water from well and .

bring you back for the family. I mean.

I is to that and feel like, oh my got what? Oh yeah.

And it's just like, mom.

you get that they have to pack their water bottle, like they have things that they responsible for in the morning's for school. And you would think that I am absolutely, as was, run a marathon and like, take word to the british for the war. I would like think you like IT IT is so it's unbelievable. So again, that responsibility, the work, that the active, the tasks that they have to do, they don't want to do.

they got to do IT. And you call yourself the fun mom.

Then we go shopping. Then we shopped .

to forget that we had to unload the dish wash. I know because .

I think that was hard for parents is like, you know and then in school, like I heard so many stories, appearance that like call the teacher and try to like fix the thing and I got sorry, that's the great you got so like let's figure out how we can deal with that.

Yeah so I think it's I think those those those day to day situations is what shapes are kids it's I don't believe it's not like, oh, you have a car suddenly you are spoiled kid, right? Like we're going have to work. My parents want to save up for a half of our car, will .

probably that work .

to the place. So like there's elements to that, that I think you're really intentional, really good because that forces them them to save and to work, right? Like those daily activities they have to do to lead to a big goal like all of that is so good.

But I don't think just because like you pay for a wedding automatically, your kids ruins, right the ruins by the data day, things that happen in your home to, in my opinion. But who knows? I just have a nine .

year old as the oldest. So new car, I don't I don't trust sixteen year old of brain. New cars, no thing.

That should be a thing. Oh my, if you're driving a nice or car than me is sixteen. I just have problems .

with that well and when I don't feel felt I feel old but when I see kids and cars, are you twelve? Are you twelve years old? Drive in that car free day look like babies.

I about me. I'm driving a little guy.

Just there is just a bear, George.

that's why I wear a bear. Just a all right, here's when that's ten gently related. You like the use of ten gender.

I don't get up, but sure what .

say you again? Well, if you didn't get in the first two times, I said that I don't think the third ones is going to be the charm here, like tent. Oh, okay, got you.

okay.

The fear of getting your information stolen online? No.

that okay, George. So what do you think the best way to protect your family from online scanner is?

Is this a trick question? Maybe delete me. Yes.

you gotta right to delete me as a great service. You all that you sign up and they go, and they take all of your info off of the internet. Data broker websites will go and buy your data, because sites that you put your data on, you do you know soldier data?

I mean, what is happening with the world? This is the world. We don't want to bring kids into a us. So the scammers, the gamers, they are out there. So getting your data removed from the internet is so key.

Delete me helps you with that. They do IT all for you. And so i've saved forty four hours, according to the report of time IT. Save me from finding and removing all that myself.

And they even have family plans that you can add spouses and kids and all there info to so they can be scrubs off the internet because I think privacy is the new it's like the new currency. We're all like in a data driven world. We're all just like, please get me out .

here yeah don't be selling my phone number, people, my home address like it's just crazy and delete me there so sorrow that when you do your profile that IT pulls like you're in laws although .

I as this sure in this.

I think it's wild what IT is out there so again, delete me as such.

a great service, very affordable. Check IT out. Just go to join, delete me dot com, slash smart money and you'll get twenty percent off for being a value listener and viewer. So okay, click the link in the description we'll put you down there.

Hey guys, a mital cruise.

I'm George camel and .

we are so excited tell you that we got something new. Go on on.

George. That's right. We have a very special episode. That's all about you, the listener. So here's the deal we're going to give you our two sense.

It's kind of an ask creatural and George, and here's what I want to know from you. Give us your money situations. Your money fails anything you want our opinions or advice on yeah .

so you do that by submitting a voice mails so you're going to call eight, seven, seven, three, zero six, one five, one seven. Leave us a voice smell l about your situation. And if you do that, just know you are giving our team permission to use your voice mml e and your first name on the show.

And if IT goes well, maybe we'll do IT again. So make sure you leave a voice male again. The numbers eight, seven, seven, three, zero, six, one, five, one, seven.

real. And actually that's prety legit. okay. So George, all of us who we talked about kind of ear rational fears, right? The markets going to crash all of that. But there are some rational fears about money that we should chat about.

There are some people aren't .

scared of that. Maybe they should be more scared. Yeah, be afraid to.

Here's one go. Student learned that. Oh.

so scary. I'm scared.

People are going to have student learned that and pass IT on generation ally like an inheritance. Now IT doesn't work like that. Not do that, right? No, the great news is actually you die with your student .

loans is not a wonderful what. Listen, they yes, get out. P IT. Is the one happy death that stays with people so long because they kind of just put up with that. And what's hard as a lot of these interest rates are getting higher and higher, and people like barely can even just make like the principal payment right. They can just afford the interests.

So well, the promised politicians dangle LED to care IT as well. Forgive you if you let me, my god, the us. Is thirty five trillion dollars in debt. They don't exactly have deep pockets to go head and forgive the loan. Yes, without making the american people very angry with more taxes.

social. And so okay, next is to eliminate all debt. So again, if you're scared to take the leap, I think IT is scarier to continue to be in debt for the rest of your life.

Then just to say, you know what i'm going to do IT. I'm going to pay IT off. I'm going to try this plan. And here's my thing always with getting out of debt, like do IT for a year, like like start the process and just say for the calendar year, we're going to try this. And if you get to the into the year and you hate the progress that you've made, you can always get back in.

It's so easy to get more debt t and so much harder to get out.

But if you actually started seeing these results, it's gonna more encouraging and you're going na be like, oh my gosh, I don't have that payment and that payment and like, it's so nice way to keep my paycheck that I worked so hard for and use IT for me and my family yeah so and there's a thread rage.

Well, there's a lot of people that have been calling in the rains you show late later I talk to on social media and they make really good money. And they take on debt because they go, well, the payments, not that bad. I can afford IT, yes.

And then life happens and they lose a job, or once spouse wants to stay at home, whatever IT is. And all the sudden, that payment now is a much bigger deal. So we all think story I D want IT comes to going into that. We need to think about the what if.

and that's probably are like interesting perspectives, is that we talk to people every single day that get the shorten of the sake of life right? They lose the job where they get the diagnosis. Like whatever happens, seeing life play out, you guys IT happens, life happens. So why risk your financial situation in your piece of mind for like crap, like serious at the end in the day.

just stuff like what did you spend thirty thousand on the credit .

or just know yeah that's right. That's right and you're just like, man, so it's not with the risk above.

Next up, have an emergency fund saved. Most people aren't scared enough about their lack of savings and what that does them when an emergency does come up. Yeah, because I have to go to dead ford at twenty two percent A, P, R, which is very frightening to me.

There you want .

to scared me. Twenty two percent apr will do IT that.

I like, I, I love scrub di. Well, that's what we use at our else. Good for you. Yeah, it's great on the cold water.

I do have an irrational fear now .

of Normal sponges that do you .

put in that you could do that.

It's the best that feels so good.

I just keep replacing them.

When I got native, oh, no, yeah, I know. I just say too many.

George H.

G.

I. I one, investing in retirement. I think more people should be scared that they don't have enough in retirement because the stats say they don't, Janet, so they need a miracle to retire.

They say they need one point five six million to retire. comfortable. Ly the average for one one k baLance for jenee fifty six grand.

There is a giant .

gap between what we know and think we'll need and how we're actually doing. And the good news is you can do something .

about this for sure. And it's a math formula like figure out, hey, what are you living on today? Is IT somewhat going to look the same, right? And then calculate inflation and just okay, out of these years, what do I need? So there's a formula to get there, at least get ah and .

if you follow the rami plan, you get out of dead, get emergency fund, then begin investing fifteen percent of your income over the course of a decade or two or three or four, even you will become a millionaire, you will retire dignity if you do just that. And then of course, paying off home early, increasing investing. You can do this stuff even if you start at forty with zero dollars.

I did the math on this. If you invest the, you know, fifty percent of the average household income, forty to sixty two, you can become a millionaire. So what that encourages .

the tour is always wins. George blow, when steady, when the race is not exciting, is not flashy.

So stay added. Don't know people, money, have money. Think beyond written budget, our favor tools, every dollar will link IT in the show notes.

Do you want to go check that out? And that truly gets all the fear out of my life because i'm focusing on the facts, on reality home actually doing, not the headlines, not what could be, how are we doing as I have? yes. What can we control? And that usually helps .

to spell out of the fears. Yes, for sure. All right, George is almost the end of the episode, and we close out every episode with guilty as charged.

And this is where I, producer key, give us a new guilty to church question every week. And if we are guilty, we take a step. Kelly, all right, have you ever snooped in someone's house? Oh, they're medicine cabinets. You're just around any other question.

I'm not going to try to be the hero here and say that I didn't because I have not regular, not recently. But I am curious like what's in you know, from looking through a medicine cabinet for something a band presided someone's you .

are looking at medication yeah.

I don't go too deep. I'm not looking at their jaws that like that. For some reason, jaws feel like not okay. Medicine cabinet like this is a public space.

We're all here.

Guess i'll use the .

bathroom and just to see just be curious yeah what's here?

So you're not the type to snob no.

i'm not a snooper on inside out too.

Have you seen no, me and so good .

do they snap Riley does at her conscience. It's a whole part of the story. In the whole time I was just a nervous break.

I inking that he was gonna god, I was like rally. So yeah, I did snows. I wouldn't .

call snowing, but I was at day RAM his house. He was not there, which makes the story weirder. We were filming a video where we were recreating home alone, or it's for range of Christmas party video.

So i'm a color, whatever, home alone and dave house. And as part of the scene, we opened the fridge to be that wo. And I was way too, into snooping as to what was in this fridge. Can I tell you what I saw on the freezer that changed my life?

Sure thing, but go feel like .

a day thing. There are three pints of Jenny's ice cream. And if you know, Jenny's ice cream is like a premium of ice cream, brain is my favorite ice cream and it's like twelve dollars a pint at Jenny, if you go, I don't pay full Price and not that kind of guy. But I saw the three pints of jane's ice cream in. My first thought was he really is living like no one I was like, this is true else.

Like there thirty dollars .

what I want to be, I grow going to tell you what's in my freeze are .

right now three .

hundred points of jennie's ice cream. Dave, just get a well, big odio say I did smoke. There was a lot of food in there though I was surprised. Share is he loves to cook .

SHE cook a lot. So there's always lots of food. Also send you home with .

food IT was inspiring. I do not eat any other things in the fridge.

I'm going to have a on one. I don't think I think i'm too scared for whenever .

what I do IT again in a heart beat, not in the way that again is nasty. I'm not going through people's jars, but if i'm if i'm in your bathroom, i'm curious i'm guy. I'm a peak.

Yeah also who even has medicine cabinet anymore? It's got to be an older house. Even have like .

the the mired .

medicine medicine cabinet yes.

so funny. right? George minister, drink first. Your closure. I did. I enjoy IT was ick.

IT was a thick, buttery, rich drink. What's your reading?

I'm a ten. wow. I know I would order this as an after dinner drink .

like desert.

Yeah like if i'm like out with friends and we go out you know after dinner somewhere, I I think I would order IT.

Okay, take out the time for the buttons. Beer, old fashion, i'm going to go seven out of ten. Okay, as you know, i'm not a huge fan of the dairy cocktails.

And this one has heavy criminate OK burbs butterby er syrup. So the butterby er syrup has made with cream soda and a butterscotch p very interesting, along with burbo bla bitters plus the heavy cream, so not bad. And IT only comes out to two dollar ars and three cents per glass, which is one more cost effective cocktails we've had. So if you want the recipe, go check IT out in the shower notes and hopefully i'll enjoy IT.

I read its closing time, so if you guys enjoyed at this episode, make sure to subscribe, but comment we love to hear from you guys. And if you did love this topic, make sure to check out our episode on surprising money effects that everyone should know. Let's coming up next, all right. We'll see you guys next thursday on on new episode of more money happy hour.