George Kamel - Answering Google’s Most Searched Money Questions

Episode Date: May 19, 2023

Answering Google’s Most Searched Money Questions In this video, I answer some of the most searched for money questions on the internet. Check out these links: My Article On How To Make Money Online My Video On How I Became A Millionaire Trusted Financial Content Start Your EveryDollar Budget Now! Ramsey Solutions Privacy Policy Learn more about your ad choices. Visit megaphone.fm/adchoices

Why isn't 11 pronounced one teen? And why don't sparklers burn you? How do you make yourself taller without surgery? And what would a chair look like if your knees bent the other way? What do all those sentences have in common? Well, they're all golden Google Nuggets from my recent search history. I wanted to know the most searched money questions you all are asking on the old gooks. And I wanted to see if I could answer them.

But before we dive in, take a minute to center yourself. Inhale. Exhale. Exhale. And go ahead and click that like and subscribe button so you you can let the algorithm know that we're friends. We are one. Namaste. So here we go. The most Googled money questions out there. We're going to start. What is? Debt consolidation loan. This is basically a loan that converts a lot of debts into one loan payment, which simplifies how many

payments you've got to make. And truthfully, a lot of people see this as some kind of financial shortcut to avoid the pain they're feeling. But they shouldn't get too excited because it's not everything it seems to be. You see, debt consolidation offers a lower monthly payment, but you'll often have extended repayment terms, aka you'll be in debt longer. A lower interest rate is not always a guarantee when you consolidate, and you could even get a higher rate, which is bad. And debt consolidation loans often come with fees for setting up the loan, balance transfer, closing cost, and even annual fees, which means you'll be shelling out even more money that you don't have to begin with. Next up in the category of what is... What is my money don't jiggle?

Jiggle. Oh, that's a fun one. Something I myself have Googled, something I have sang many a time. You don't want to hear me explain it. You want to see it. My money don't jiggle, jiggle, jiggle. It folds. I'd like to see you wiggle, wiggle, for sure. All right, up next, let's see what we've got. What is zero-based budgeting? Ding, ding, ding, winter, chicken dinner. And here's what it means. Zero-based budgeting doesn't mean that you have zero dollars in your bank account. It means your income minus your expenses equals zero. So as you create your budget, you're going to list out your paychecks for the month, and below that, you're going to have all of your expenses. And if you still have money left over, we've got to

give every single dollar an assignment, a job to do, a goal like paying off debt or saving up for a vacation. Let's see what we have behind this door. What is money laundering? Hopefully this is just curiosity and not like a how-to, because actual money laundering is illegal. Here's a nerdy definition from a government website, if it makes you happy. Money laundering involves disguising financial assets so they can be used without detection of the illegal activity that produced them. In case it wasn't clear, I don't condone it, don't do it, okay, I want nothing to do with your money laundering. Stay away from it. Hey, you don't have to raise your voice. Last but not least, old money aesthetic. This has become a big TikTok trend. Gen Z is obsessed with old money aesthetic,

and it really stems from the old-timey folks with wealth. It doesn't scream wealth. It whispers it. Okay, this is quiet luxury. All right, we're done with what is. Get out of here, what is. We're moving on to bigger things, bigger fish to fry. How to make money online. I actually wrote an article about this at ramsysolutions.com. I'll link it down below, but I'll give you the spark notes real quick. For starters, you can sell things online. This can be stuff that you have around the house. If you have a particular hobby, you know a lot about a certain area. You can buy these items and flip them for money. You can also take surveys. You can also teach. You can also things if you are really knowledgeable in a certain subject you can become a tutor or

even teach English as a second language. To be fair there's a lot of ways you can make money online these days but you got to pick the one that you will be good at. How to borrow money from cash app. What? What you're really asking to do is how to go into debt and I'm not gonna answer that. How to save for retirement. Okay, so there's a lot of ways to save for retirement. The best way is through your employer. A lot of you out there, you've got a 401k plan. You have a 403B, a TSP. There's a lot of words out there. All of these things have something in common. They're employer retirement plans. They're tax advantaged. And you can invest in mutual funds inside of those 401Ks, 403Bs that will appreciate in time

thanks to the power of compound interest. The other option, if you don't have an employer account, is an IRA, an individual retirement arrangement that anyone can go fund. And the Roth options of these are even better because you're paying taxes now, but the money grows tax-free and you can withdraw it tax-free later on down the road. Moving on in the how-to category we have how to invest. We like investing. Okay, let's see. I'm nervous. Real estate. It's free real estate. I'm a big fan of real estate. I have a house that is real estate and houses appreciate over time, which makes them a good investment. If you want to invest in real estate beyond just having your own house paid for, you want to do it with cash. I know. That sounds insane.

Insanely true. But here's what's more insane. Leveraging debt up to your eyeballs and risking your financial life all to have some cash flow. And so wait until you can get a deal on some real estate, save up. It may take you 5, 10, 15, 20 years, but you will do it with wisdom, with peace, with intentionality, and not get screwed. How to pay off credit card debt. I like this one because it tells me whoever's Googling this is ready to make some changes. They want to get out of debt. They want to start building for the future

instead of paying for the past. But there's a method I want to tell you about that makes this really, really powerful and it gives you the hope that you can actually do it. And it's called the debt snowball method. So what you do is list out all of your debts from smallest to largest balance, regardless of the interest rate,

and attack the little one with a vengeance while you make minimum payments on the rest. And here's what happens. Psychologically, you feel the win because that smallest debt gets paid off pretty fast. Now you freed up the payment, plus all the margin you were throwing at it, and it rolls into the next one, and the next one, and the debt snowball picks up snow,

and soon you can become debt-free. Next up, we have Ho to Make Money Fast. I'm going to hope this was a typo. It's not the right way to make money, okay? Last but not least, we've got how to make money on YouTube. That's where we are, too. Are you here too? Oh my gosh, this is crazy.

Making money on YouTube, it's complicated, And of course it takes building an audience and getting a lot of views, but there's some real basic ways people make money from YouTube. Number one is advertising revenue. So you can earn revenue from watch paid ads and shorts feed ads, and that's a big way people make money, is you watch my stuff, there's ads inside of that stuff, and you get a little chunk of that money.

That's the how-toes. Last but not least, oh, that's fun. I'm nervous right now, because I don't know what y'all are Googling out there. George Camel height. Well, that's awfully personal, and I assume you're Googling it because you think I'm really tall. Oh, wait, you're serious?

Five, six, and a quarter. So that's that, that's easy. George Camel, ethnicity, half Egyptian, and half Syrian. My dad's from Egypt, my mom's from Syria. They were born over there. I was born in the good old US of A, and I'm an American citizen and proud of it. Next up, we have George Camel.

Net Worth. So for those you that don't know, net worth is your assets minus your liabilities, what you own minus what you owe. And this includes everything that you have equity in, your bank accounts, your retirement accounts, your cars count as assets. And so my net worth as of, I don't know, this month is probably around $1.1 million. And if you've watched my channel, you know I've got a video called How I Went from Broke to Millionaire where I outline exactly how I did this over the course of 10 years.

And it's really boring and it's really simple, and that tells me that anyone can do it. And all I did was I married someone awesome who didn't have debt. We started our marriage off debt free. We were investing in our 401Ks at 15%. And we bought a house and paid it off quickly, and that house appreciated. And so when you add up the equity in our home, you add up all of our retirement accounts, our bank accounts, and our cars, it adds up to roughly $1.1 million. Next up, we have George Camel Fannie. Okay.

Pack. That makes more sense. I was like, what are British people doing out there? Inappropriate. George Camel Fanny Pack, this is a funny story. We did an April Fool's joke where I posted on Instagram saying that I have a brand new product, and it's the Fanny Pack cash envelope system

where you can budget with actual cash with a fashionable fanny pack. And the thing is, people thought it was real, and they were Googling it to try to see where they could buy it. And so that told me, we need to make this because that's freaking awesome. Next, George Camel, debt-free. Scream! This is an interesting one. And I assume if you Google that, you know about the debt-free screams.

So I co-host one of the biggest personal finance shows out there called The Ramsey Show. And a mainstay of the show is that people become debt-free following our plan, the debt snowball method. And they come celebrate with us and they share their story live on the air. And at the very end, they yell, I'm dead free. And I got to do one because my wife and I paid off our house in 2021. And in January of 2022, we got to do a debt-free scream live on the show. show on a day I was co-hosting. All right, our last question

that has been Googled, George Campbell. Wedding! Okay, I assume the person Googling this heard about the fact that I won a free wedding. And I'm going to give you a little tease. If you want to hear more about it, let me know in the comments, and maybe we'll make a full deep dive video on

how I want a free wedding. What the heck happened, and you'll get the deeds there. That's it for the most Googled questions. I gave you the answers that I could come up with, or that I could Google. But guess what? There are millions of other questions out there that you can find,

and I'm going to guess a good portion of those answers, have anterior motives. Here's what I mean. When you Google something, you don't know what's going to come up. And a lot of the answers that come up are trying to sell you on things you don't need. And a lot of those things happen to be debt

and get rich quick crap and insurance scams that you need to stay away from. And if you're looking for trusted financial content, you got to go check out Ramsey Solutions.com. Our team creates amazing content every day. We have so many resources and tools and blogs all about money, all about helping you win the right way.

So if you like what you heard today, be sure to like and subscribe to get more content like this. Plus, share it with a friend you think would enjoy it and maybe ask them about their Google search history. That could be fun. Thanks for watching.

I'll see you guys next time.