George Kamel - Brutally Honest Money TikToks

Episode Date: December 18, 2024

💵 Start your free budget today. Download the EveryDollar app!  Sometimes TikTok gives us golden nuggets, sometimes a scrolling obsession, and sometimes just bad money advice! Today, I’m reacting to more videos you found on social media to see what lessons we can learn.  Next Steps:  🎥 Watch my video Money Expert Reacts to Broke TikTokers . . . Again.  Connect With Our Sponsors:  🔒 Get 20% off when you join DeleteMe.  💸 Learn more about opening a high-yield savings account with Laurel Road.  📲 Get $5 off Tello's Unlimited Plan and enjoy great nationwide coverage for only $20 at https://www.tello.com/George.  Explore More From Ramsey Network:  🎙️ The Ramsey Show  🍸 Smart Money Happy Hour  💸 The Ramsey Show Highlights  🧠 The Dr. John Delony Show  💡 The Rachel Cruze Show  💼 The Ken Coleman Show  📈 EntreLeadership    Ramsey Solutions Privacy Policy  Learn more about your ad choices. Visit megaphone.fm/adchoices

For some reason, people keep sending me crazy TikToks about money stuff. Maybe it's because I talk about money. Maybe it's because I like TikTok. I don't know. What's that? Oh, that's right. In multiple videos, I said, please send me videos about money that you see on the internet. Twitter or Instagram or Twitter.

And I'll try to include it in a case. Okay. Hey, whatever the case may be. Today, we're looking at a whole new batch of clips ripped straight from the socials. And I've got a feeling there's going to be some uncut gems in here. So sit back, relax. click those like and subscribe buttons, then sit back and relax again and enjoy the videos.

Don't mind if I do, sunshine. Alright, here's the first clip. How much money does it take to get the top prize at Daven Busters? A little T&B content, let's go. The Xbox cost $435, so I put that much on my car. First, I went to the Big Bass Wheel and started off hot. Oh, 1,000!

We're still not at 1% of the way there, though. This is so chaotic. I stayed at the Big Bass Wheel for a bit long. Went over to Wack and Win and very fast. Okay, he's gotta get $160,000 points. to get a $435 Xbox. $435 got me. $28,000.

After that, I realized this was gonna take way too long, so I recruited all of my friends to help me. Get me as many tickets is possible. This guy's not good at money management. Great idea. They literally all hit jackpaws. Have to claim $2,800 tickets? Thank you.

We spent $935. We were at $61,000. Oh, wow. He's not even close after spending almost a grand. Can I be able to buy 100,000 tickets? We've done it. It costs $1,800. He just bought the tickets?

You can have it. First of all, I'm just impressed that he has that many friends, that they're all willing to go to D&B. I mean, that's the kind of friends I need. So this was a great experiment to see how much it would actually take to get this Xbox that costs $435 bucks retail, but to get it as far as points go. And so you've got to understand. D&Bs is like adult Chucky Cheese, but with Long Island iced teas and bad decisions.

Except instead of mom spotting you with $10 and saying, have a good time, it's probably dad's trust fund. And you know what this reminds me of, this is just like credit card points. I wish I could just take this and insert it into the credit card world to show you just how insane credit card rewards really are. The value is arbitrary. It can be devalued at any time, and credit card companies have set this up to where the house wins every time.

So that little rinky-dink thing you got, the flight, the cashback, whatever, it costs you so much to get that that it's not worth it. And these companies wouldn't be doing this if they weren't making money from it. But thank you for the experiment and for the experiment. the, I don't know, just sensory overload that I just experienced. I don't even know what just happened. That was a wild one. I need the Gen Z hair.

I don't have that going for me. I guess I have like choosy millennial hair. All right. Next up. Jaden has one dollar bill, one quarter, and two pennies. How much money does he have? Jayon broke. Oh, that laugh is infectious.

I love this video so much. This is some common quarter. math right here, right? The goal of the problem is to actually add up how much money Jaden has, but times be tough. And our friend over here went, uh, Jaden doesn't have enough money to buy a popsicle from the ice cream truck. Four little guy. So I think this is a great example of, number one, great parenting, because your kid thought critically for themselves instead of going, well, it's one, $1.70. No one cares. Here's the problem. America's broke. That's we should be, we should be, teaching kids how to not be broke, not teaching them how to do basic math they can do on their iPhone.

And I'm going to judge the pedestal. I'm going to stand on that soapbox, mostly because I need the boosting height. Short king. I want to know what this kid is doing. He needs to be the next like kid president. I want to see this guy really skyrocket as a content creator. I hope he's doing well. He's probably, I don't know, seven now instead of six. I have no concept of age. Next up, let's see who we got. Here's how I made $100,000 in under 10 minutes. The first thing I did. Lies. What the hell are you doing?

Oh, it is a lie. I'm lying about making money. Dan, if you want to make a finance TikTok, you're going to have to pump up your numbers. But these are pretty big. Pump them. Here's how I made $8 trillion in under six seconds. First, I look at a company's fundamentals. What was the problem that time?

Fundamentals is two inside baseball. So is stock. Those are like basic finance terms. Try these lines I wrote. When Green Line go up, good. Green Line only go up. Money, money, money, money. J-G.

Bugatti. We can't just say this stuff. It's gonna say anything. The TikTok police, shut up. Keep reading. Here are the line movements you should look out for. The triple wedge, the Ant Man, the Wet Otter, and the Bagel. I feel like we're just lying to people at this point.

Too out. But no, this isn't true. We're not even selling them anything. Which is why you should buy my finance course, overnight millionaire money moves. Oh my gosh, this is a brilliant take down of the Get Rich influencers out there telling you that they're going to make you a ton of money with very little effort if you just buy their thing. Well, guess what? That's how they're actually making money. It's not by doing anything, it's just by scamming you into buying a course and using a bunch of

really big numbers to impress you. So I appreciate someone out there telling the truth. I can tell you how to make a million dollars over like a long period of time by doing unsexy things. And so here's the key. If it sounds too good to be true, it definitely is and run away. If they have a $5,000 course that's going to teach you how to get rich quick. Also, is this guy's, I want to know what this guy's content is all about. Does he actually sell a course? Good work, investigative. Oh, it's the morning brew guy.

I should have known. All right, I like this. Hey, if you're watching this morning brew team, let's collab. Some synergy. Let's get it going. All right, let's see what we got next. Allow me to set the scene. Oh, I know this girl.

Everyone is having a great time, but then disaster strikes. Your least favorite friend at the table, of course, decides that she is going to ball out and you're going to help pay for it. Ashley's thinking of ordering the $99. $28 ounce bone in rib eye. Ashley's not getting the $99. While you lose this budget, we're eyeing the chicken sandwich for 19. What are you supposed to do now?

Well, I'm Vivian, you're rich BFF, and your favorite Wall Street girlie, and I'm tired of seeing you subsidize Ashley's meat fest. Before you guys even order, this is what you're going to say. Hey, guys, tonight, let's itemize the bill and split costs based on what we're ordering. I've been really focused on being more responsible with my spending this year,

and I want to make sure that my budget can comfortably cover our meals out together. This is a firm but thoughtful way to share that you're not game to just split the bill evenly. If you say this before your order, Ashley knows if she eats the ribby, she's paying for the ribby, and she can't count on you to help lower her bill. Hope this helps. Oh, my goodness. First of all, how catty are you to have a least favorite friend at the table?

Who does that? I mean, we all do it secretly, but you just, you said the quiet part out loud. Well, I'll keep that in mind. I got to go back to your script here. This was a wild thing to say in front of a table. You ready for this? Hi, guys. Tonight, let's itemize the bill and split cost based on what we're ordering.

I've been really focused on being more responsible with my spending this year, and I want to make sure that my budget can comfortably cover our meals out together. The table's going to stare at you until you walk out, and they're going to go, okay, we did our job, she's gone, let's have fun again. Now, I actually agree with the sentiment behind it about communicating ahead of time, setting up the boundaries, being clear and firm, but this is a weird way to do it. Let me try to put this into human speak so that you don't get kicked out of the group chat. Here's what do instead.

Hey guys, I'm going to cover my tab tonight. Are we good if we get separate checks? Cool. That's it. I just spark noted that in a way that made me not get excommunicated from my social circle. I'm sure she's a nice part. I've not met Vivian. Maybe she's wonderful.

We don't know. I just want to be a rich BFF. Why can't I be a rich BFF? Why can't I be your favorite Wall Street girly? Be a man. Up next, moving on. Me at the airport at 4 a.m. because I saved $50 on the plane ticket six months ago. And it's a chihuahua that I think has been drugged.

Is it on methamphetamines? What happened to this dog? Also, do they make inviseline for dogs? Because them teeth be... I think it's a dead tooth in there somewhere. But this is relatable content, as we say in the biz. You're trying to save some money. You go, well, earlier flight, I'll save some money.

Round trip. That's like $100. bucks and then you actually take that trip and you wake up at 2.30 in the morning and you get to the airport an hour and a half ahead of time because you know those early morning flights have the longest lines possible. You're like, oh, I'm not the only idiot who decided this was a good idea. So now you're with like the worst people on planet earth who are all trying to save a buck waiting in a line to check your stupid bag so you can get on the stupid plane and get to the stupid place and then be exhausted for the rest of the trip. Not worth it. So here's my thing. When you're

broke, I suggest just not traveling. And if you really, really need to save a buck, you're really on a tight budget and you have to travel, sure. Do this knowing it's not going to be fun. But I believe the point of being financially free and being on a budget and getting out of debt is so that you can actually pay a little bit more to not be miserable. All right? I said it. I said it. Call me bougie frugal. But that's the kind of guy I am at 35 years old. I'm not doing the 4 a.m. flight. Miss me with that. And someone check on that chihuahua. Is that the Taco Bell Chihuahua? Is that what happens after years? of Taco Bell ads?

I want Taco Bell. So don't do that. That is pure misery. And speaking of misery, have you seen the interest rates on most savings accounts these days? It's pathetic. And that's why I recommend

a high-yield savings account like the one offered by Laurel Road. One of the sponsors of today's video. How high? We're talking top-tier, baby. Some would say S-tier. But competitive rates aren't the only reason

to check out Laurel Road. There's no minimum balance required to open an account, your deposits are FDIC insured, and there's no hidden fees. You work hard for your money, so let your money start working hard for you. Learn more by going to laurel road.com slash george

or click the link in the description below. All right, now some of these videos, admittedly pretty funny. But you know what's not funny? Paying too much for your phone service. And that's why I recommend Tello, another sponsor of today's episode. They've got plans anywhere from $5 a month up to $25 a month for the unlimited everything plan.

No contracts, no sneaky fees, and you can upgrade or change plans whenever you want. They've also got cheap international roaming. So when your DNA test reveals that you're 54.5% German, you can fly to Frankfurt and spriken Sidoich to your heart's content. Go to tello.com slash George and get an extra five bucks off the unlimited data plan for your first month of service. Or use the link in the description below. All right, let's get back to the vids.

Here's the worst advice I got while paying off my debt. Don't invest until you're debt free. I feel like this is such a blanket statement. I'm so glad I ignored it. By investing in my 401K up to my employer's math, I was able actually to grow my money even when I had debt. Now, the stock market has historically produced 8 to 10% returns. So here's my rule.

If your debt's interest rate is over 7%, prioritize paying it off because it's costing you more than you would earn investing. But if it's lower than 7%, you're likely to earn more in the market than the interest you're paying. Having debt doesn't mean you have to give up every opportunity to make your life better. I get where she's going with this, and I applaud her for getting her steps in while making content, even if it means she's exasperated while telling you why you shouldn't pause investing while you have your debt. And can I tell you big shades while throwing some big shade at Ramsey's Solutions, which is where she got this advice to, pause investing while you pay off debt. Here's the deal. We tell people

to pause investing while paying off debt for a very simple reason. Number one, it lights a fire under you to get out of debt so that you get to investing faster, right? If you're investing and you're paying off debt, you're not going to be in a rush to invest anymore. You're going to be happily just sort of chipping away at the debt, going

a little bit, a little bit of match in retirement, and you're never going to get anywhere. You're doing 17 things at once. The other thing it does is give you more margin to pay off debt so that when you do get to investing, you're investing 15% instead of just a measly match of three or four or five percent. So we're talking about tripling or quadrupling your investing rate once you're out of debt, which, by the way, takes people on average 18 to 24 months if they follow the plan that I teach on this channel.

So enough shade, and those, there's a lot of shade happening here, and I suggest you drink some water. That looks exhausting. And lastly, if I may, the worst advice you got that you didn't take, I feel like, If you got the worst advice, you actually did the thing that they said to do and it didn't work out. You didn't try it our way. So maybe don't say it was the worst advice. Maybe the worst thing you've ever heard in your life. That might be more accurate, also aggressive.

I'm just tired. I'm just tired of you guys using Ramsey as a punching bag to get clicks and likes so you can get comments saying, Oh my gosh, girlie, you're so right. I did my own thing to pay off my own. I was on my own eat, pray, life journey to pay off my debt. It only took me 19 years to pay off my debt. And I got to invest a whole long time. Nobody cares, Karen.

Put on your shades and go for a walk together. Maybe she'll have someone to talk to instead of her phone. Little spicy today. Little fuego, if you will. This guy looks promising. Let's see what he has to say. Hey, babe. Babe, my love?

Yeah. I'm about to do bills and stuff. Do you have a minute to just go over everything? Okay, thank you. This is me. This is me in the relationship. Okay, first thing's first. The Amex? Did you, well, do you?

Oh, less relatable. Oh, no, no, no, no. It's fine. It's fine. I'm getting the points. So I don't care. No, babe, we both wanted the new furniture and stuff. It's fine.

I'll take care of it. You don't have to reimburse me. Relax. But, babe, the coffee this month? What about? What you mean? What about? Come on, babe.

We're dropping over $100 a month on outside coffee. I say we, but we both know I make the coffee at home. So come on. You got to cut back. Okay. Shots fire. Oh, come on, please. Just make you hear some days.

Or else then we're just throwing money out the window on both sides. Okay. He's clearly than her. She's the free spirit. Okay. Just like, I got to stop. at the DoorDash. I canceled my account today, by the way. Yeah. I did. No, you don't even want to know. I was when I saw it. It's almost $300. I know. I know. It's all the late nights. All the

night orders when we come back Friday, Saturday. We're just always getting all staying in the mornings. We got to stop. And that reminds you, you got to start eating healthier. Yes. All right? We're done with that. You said you were still waiting on those two commission checks, right? All right. So I'll take care of rent. No, no, it's fine. I got it. Don't worry about it. I got electric. You paid internet? Already you paid Spectrum? Okay, good. No, that's fine.

Perfect. Savings. Where are you at this month? No, I can put a little bit more in. It's fine. It's fine. So passive, aggressive. We just have to be a little bit more mindful throughout February. All right? No, that's it. We're good. Thank you, babe. Oh, man. That was...

I feel like a fly in the wall in a very awkward, dysfunctional relationship. If you missed the caption up front, it said, POV discussing money in a healthy relationship. I'm not sure this is a healthy relationship. First of all, I can't tell if they're married or not. It might be just like a boyfriend, girlfriend, living together. That's got its own problems.

And if they're married, I somehow have more concerns that they're like reimbursing each other, probably like Venmoing each other for things. That's weird. I mean, like, oh, no, no, it's fine, no, I'll cover rent. It's fine, it's fine. It's fine. It's fine.

It's fine. The more you say that, the sooner this relationship is going to implode in on itself. He's saying us and we, so why is their money still separate? Clearly they have separate accounts. He doesn't have transparency into where the savings are at. She doesn't have transparency into what the spending is doing. They're using credit cards and somehow saying they're tracking their expenses

by just looking at the stupidity that happened in the past 30 days. That's not really making a plan and tracking expenses. That's why you need a budget. And I've got the best budget app for you in the comments, and it'll maybe convince you that you don't need your credit cards at all, that you can actually manage your own money and give yourself some rewards without needing a company or debt to do it. I said what I said.

But I do like, I think this guy and I would get along. Clearly, this is parody. I don't think this is his real life. Although all comedy comes from truth and tragedy. We can agree on that. All right, my producer Alex loves to throw me a little curveball at the end of these React videos. And so he just sent me one apparently about a parenthood. Since I'm a new dad, I've got a one-year-old at home.

and he says this will maybe help me. Let's find out. Eddie Kee, please turn out that light. Why? It's illegal. Yes. If I had a nickel, if I had a nickel for every time my parents told me to shut off the car light because it's illegal and we're going to get pulled over, we're all going to jail.

They might get deported back to their countries. We don't know what's going to happen. But it put the fear of God in me. And if I had a nickel for every time that happened to me, I would be a baby steps millionaire by now. I'll tell you that much. With the power of compound growth, with an annual. average of return 10 to 12% and good gross stock mutual funds

and tax advantage retirement accounts wow and for some reason the gangsters paradise a little bit of slamo chef's kiss to this one to best dad's CEO who posted this and this apparently I didn't know this this is a global this is a global phenomenon

this guy in the comments said I'm from Ireland my dad used to say this can't believe this is worldwide Jason in the comments is now realizing he said wait it's not illegal we don't know I've never actually looked into the law. I just feel like we haven't gotten caught and I was very thankful. I prayed to my God and I said thank you for never getting my family arrested for having

the light on in the car. But I will be doing this as a dad. Mark my words. You sit on a throne of lies. All right, I think we've all had enough reels and TikToks for one day. I can see why people do this. It really, it really brings the rage out in a beautiful way. And if you come across any good money-related videos while you're doom scrolling in your PJs at 1am, go ahead and share it with me and maybe I can include it in one of these videos. Like this one, where I learned about Hot Girl Debt and other things I'm still trying to unsee and work out with my therapist. Keep watching or click the link in the description. Thanks for watching. We'll see you next time.