George Kamel - Millionaire Reacts To: What I Spend In a Week

Episode Date: September 29, 2023

“What I Spend in a Week” videos are as popular now as skinny ties were in 2008. I’ve seen these videos all over social media, and what people are spending is quite frankly shocking. So today, we’re gonna take a look at a couple of these videos, I’ll throw in my 2 cents, and then at the end I’ll give you a breakdown of what I spend in a week. Links: Why Most People Will Never Be Millionaires The Only Budgeting Method You Need To Worry About! How I Went From Broke to Millionaire In Under 10 Years Learn more about your ad choices. Visit megaphone.fm/adchoices

Okay, so here's what I spend in a week. Sunday, I bought two five-pound bags of Sour Patch Kids for $4,999. Now, we actually don't have the cabinet space for them in the kitchen, so I'm keeping them in the linen closet, and I grab them to snack on while I shower. I call them my shower patch kids. Follow from our Gen Z hacks. Okay, none of that is true,

but I've seen these videos on social media, these what I spend in a week videos, and basically it's where people keep track of every time they spend money during the week, and then add it up at the end of the week and make a video about it for, I don't know, Approval and validation, I have no idea anymore. But real talk, they are entertaining and they are shocking. Like a 20-year-old YouTuber who spent $13,000 in one week.

And if you search what I spend in a week on TikTok, you could scroll all day long, which I do not recommend. Although if that's how you're spending your day, at least you won't be spending money. So there's a bonus. All day. All day. I do this all day, Winston. So today we're going to take a look at a couple of these videos. I'll throw in my two cents, and at the end, I'll give you a breakdown of what I spent in a week.

That's right. I'm going to break it down like Timberlake on the troll soundtrack, baby. Can't stop the feeling, that song's slap. I don't care who you are. I don't care where you are. You're going to be vibing. You're going to be bopping. Then when we're done, you can compare mine to others,

and we'll see who's the smarter spender. Spoiler alert, it's going to be me. You might been hurt, babe. But before we look at what other people are spending, do me a huge favor and spend the next three seconds clicking those little buttons. They say like, they say subscribe, they say share. All right, let's take a look.

at the first video. Everything I spent this week is a 27-year-old who is irresponsible and has no self-control. On Sunday, I spent 44-24 on leggings and $25 on coffee. So we're already off to a bad start. On Monday and Tuesday, I spent $0. That's because I did not move from my bed. I was so sick these two days. On Wednesday, I spent $4685 on groceries and $2499 on my gym membership.

I also spent $15 on laundry. injury. On Thursday, again, I spent $0, but then it kind of goes downhill. On Friday, I put $10 on a sports bet. I also paid $9.350 for some textbooks, $2556 on drinks, and $3334 for cat food. On Saturday, I spent $5098 on groceries, $5.24 on Amazon, $35.24 on gas, $185 on coffee, and $99 for post-malone tickets. which brings my grand total to $703.94 for the week. Okay. Well, starting out, props to you, girl, for acknowledging they are irresponsible. Self-awareness is the first step to recovery. At real talk, this is a great place to remind you that you need a budget, okay?

And every dollar is a simple, dare-I-say, fun way to track your spending, especially you free spirits out there who are spending $185 on bracelets? Can anyone explain? Do you know what these bracelets are? Permanent bracelets? Wait, this is permanent? The only thing that was her saving grace was actually getting sick here because it caused her to not be able to leave the house. Because every time she leaves the house, homegirls spend in $100, okay?

And wasting your money on sports bets? What are you doing here, okay? Now, I get it. Some of these expenses, I'm like, all right, she's got to get the groceries. She apparently needed the textbooks. She gets a pass on that. But I do not understand the permanent bracelet. And honestly, concert tickets for under $100, I'm kind of impressed by that.

Now, we don't know her situation if she has debt, what her goals are, but this is a great picture of the average millennial. And $703 a month, I would venture to say she might be overspending and not spending less than she makes, which means she's having to go into debt to afford this lifestyle. There we go. Let's see if we can do better with this next video. This is what I spend in a week. I've seen a lot of people do this, so I'm on the top in the trend. This is everything I bought in the last five days.

Oh, five days. Moving out is costing me an arm in a leg. Wednesday, I went to East Side Marios with my family, and I got the check. They deserved a good meal, so I got them a good meal. I went to HomeSense, and I spent $16. Thursday, gas, $55, Starbucks, $5.70. It's Friday, Friday, Friday. Stop!

Friday, Canadian tire, 570. Home Sense, $140. store $80, Walmart 45, Walmart 330, phone bill 70, Farm Boy. Saturday, I went to the patio with my friends, $20, food, $94, Starbucks, $570. Sunday, car insurance, $2.30. Monday, grocery store 70, Walmart 40, dollar store 15. For the grand total of $1,670. Oh, gosh. Okay, there's a lot going on here. She was clearly a little more out of control than our previous video. I love her generosity here, but it sounds like she can't afford to be generous and just get the check. And she was very proud of herself, but you're broke. Okay, this is bad news

bears. Now, I don't know if she makes $10,000 a month. We have no idea. But I do know that she's just kind of floating through life and spending whatever she needs to to afford her lifestyle. I would have saved some money by cooking a good meal for the family. Tons of budget-friendly recipes out there. And you can also check out my video, chat GPT meal planning, if you want to. some ideas. I don't even know that I could spend $80 at the dollar store. How many things were you buying for it? You had to buy like 80 things. This is insane. I don't even know what they sell there that would be valuable to my life to the tune of $80. If she's trying to save money, I tell her not to go to the dollar store. Maybe find a cheaper phone plan. Ryan Reynolds, he's always doing ads for

these like super cheapment mobile stuff. Maybe that could work. And then the food. $95 for, was that just for her? Is she covering the tab for all of her buddies too? I don't know. I don't know. I I don't know that I could spend $95 on a casual patio hang. That's his blasphemy. And then she went back to the dollar store and then Home Sense. I think she needs to stay at home. That makes more sense. So again, very entertaining, but also slightly disconcerting,

but also very honest and vulnerable. And for that, we thank you. And clearly, with 91,000 likes on that video, a lot of people are relating, connecting. But you know what? We can't just sit in her own misery and be like, Oh my gosh, like, I'm so broke. We got to do something about it.

So to be a little humble, show some humility, go first, be vulnerable. I thought I would show you what I spent in a given week this summer. So starting with Saturday, Sunday, and Monday, all those transactions hit on the same day in my bank account, and here's what went down. At the Ramsey cafeteria, where I eat lunch and breakfast at work sometimes, my wife spent $6.31. She then went to a movie with friends to see Barbie and got some very sad dinner at the movie theater for $25.88. Later that day, she stopped by Trader Joe's, spent $17.58. She then went to Burger Up, which is a great little restaurant here locally in the Nashville area, spent $32.91. Now, so far, you're going, wow, she's the big spender.

None of no, no, because your boy over here got some Instacart from Costco, spending $148.97 after tax, service fee, and tip. Then, of course, you got to pay the Piper. Doggy Daycare ain't cheap at $35 a day. We also had a dog walker somewhere in there with a Venmo transaction. another 15 bucks. Then we have the target transaction of 6923 for some curtain rods for some very naked windows that needed to be covered up. Okay, so that brings us to a grand total for those three days of $351.88. Let's move on to Tuesday. Let's see if we did any better. Target 47 bucks for some

household and personal items. Anthropology, my wife finally got her tapestry in that will go somewhere in the house. She's been waiting a long time for this. We've been budgeting for it, $156 for a tapestry. That is a beautiful tapestry. Then, because we were sick all week, we decided to kind of meal plan the hackyway. And so we got to Ziki's family feast for six to eat for the entire week, spending over $79 for that. Natural gas bill came in at over $27. That brings our grand total for Tuesday to $311.92. We got to do better, guys.

Wednesday started off with a chewy.com order for two bags of prescription dog food at $134 because My French bulldogs are so needy. Then, $9 was spent at the Ramsey Cafe. And again, we had some doggy daycare at $35 and a dog walker at $15, which brings the grand total for Wednesday to $193. And $6. We're doing better. Let's see where it goes from here.

Thursday, Marco's Pizza, $23 for some delivery. Then, $36 on Amazon for some clothes hangers and magic erasers, you know, the random household stuff. And then again, another Instacart at Costco because we were sick to get some food at $70 there. after tax service fee and tip, ending it with my very pregnant wife's craving of Chick-fil-A at 1179. That brings a grand total for Thursday to $140.99. We leave on Friday, but Friday was a good day, my friends. Zero dollars was spent, and dinner was covered thanks to my awesome Ramsey personalities team who got us some dinner because we were both sick all week.

God bless their souls. Grand total for the week, $997.85. All right, now here's the thing. Your budget will and should look completely different from my. You hopefully don't spend hundreds of dollars a month on dog food and dog eat daycare. That's my life. They're living their best life while I suffer. But here's the key.

We worked our tails off to get to this point where we can budget for these luxury and entertainment expenses. And you may not be there yet. You may be in debt where you're going, hey, I can't eat out right now. I can't invest right now. I'm really focused on paying off debt. I've been there. And for years, I was working this plan to get to the point where we were net worth millionaires. And we still do a budget every single month.

And we're still investing 50. percent of our income toward retirement and we're able to cover all of our bills without stress. And that's what I want for all of you watching out there. So you got to run your own race. Okay. Don't compare your budget to other people. There's no set number that you have to be spending on groceries. There's so many variables here.

But the key is you're paying attention to your money and your income and giving every dollar a job. And that's where budgeting comes in. You've got to not only create the budget, but track the expenses to make sure you're hitting those goals. You're able to put extra money towards debt, able to put, money towards savings and retirement and all those good things. And speaking of money goals, you need to have some for them to happen. So write them down on paper in your notes app on your phone,

and next time you pull up to the Starbucks drive-through to spend $25 like some of these people are doing, remember that sacrificing for your goals for an artificial sugar rush high, it's not worth it. And according to one study, the average American spends $41 a week on coffee or $2,130 a year. So watch your spending because it does add up. Thanks, math. Was that a geometry joke? And while you're budgeting, keep track of those spending items that can creep up on you, like eating out and the aforementioned frivolous and luxury and entertainment expenses. It's all in the details. Now, once you create your budget, you've got to stick to it.

You have to track your transactions to actually know that you're hitting your goals. So track your transactions once a day to keep them from stacking up. Every dollar makes this super easy. You can just drag your transaction up and it can take about one minute. It's drag and drop to the right categories and make sure you're not blowing your budget. Now, I want to know from you. How much do you spend in a week? You be vulnerable now.

What is the dumbest thing you spent money on? What is the best purchase you made? Let me know in the comments below. And if you want some sweet budgeting content, you are in luck. I've got plenty of videos on that. I will drop links in the description below. And don't forget, you can start your free budget today at every dollar.com. And after you smash those like and subscribe buttons,

make sure you share this video with someone who really needs it. You know who they are. Send it to them. They'll appreciate it. Thanks for watching. We'll see you next time.