Smart Money Happy Hour with Rachel Cruze and George Kamel - Should We Let the Middle Class Go Extinct?

Episode Date: May 25, 2023

Who’s feeling middle class fancy? Join Rachel and George as they celebrate “the backbone of America” and try to figure out if the rumors are true . . . Is the middle class really disappearing? In This Episode:   ·      The restaurant that screams “middle class” according to George ·      How your income bracket does (and doesn’t) impact the quality of your life ·      Costco hot tubs, fondue fountains and more @MiddleClassFancy gold   Helpful Resources:  ·      Get your finances organized, make a plan, build up your confidence, and kick money stress out of your life for good with the EveryDollar budgeting app. Go to www.everydollar.com/smart to get started today! ·      Enter The Ramsey Cash Giveaway for a chance at $3,000! https://bit.ly/SMHHgvwy ·      Do you have a Guilty As Charged question for Rachel and George? Send a DM to @rachelcruze or @georgekamel on Instagram! Be sure to type “GUILTY?” at the top of your message so we don’t miss it.     ·    Learn more about your ad choices. https://www.megaphone.fm/adchoices   Ramsey Solutions Privacy Policy     This Week’s Happy Hour Special: The Waldorf ·      1/2 ounce absinthe ·      2 ounces rye whiskey ·      3/4 ounce sweet vermouth ·      3 dashes Angostura bitters Grab your favorite cocktail glass. Pour in the absinthe. Give the glass a swirl until the inside is fully coated––then dump out any excess liquid. (Congrats! You just performed an absinthe wash.) In a separate glass, combine the whiskey, vermouth and Angostura bitters over ice. Stir until chilled. Strain the mixture into your absinthe-washed glass and get to feeling fancy! Learn more about your ad choices. Visit megaphone.fm/adchoices

Hey guys, I'm Rachel Cruz. I'm George Camel. And this is Smart Money Happy Hour. Cheers, George. Cheers. Well, this is the show where two friends who happen to be money experts talk about what you're talking about. Everything from pop culture, current events, and money. That's right.

And today we're talking about the iconic American middle class. Should we shorten it to mid-class? It's like what the kids are saying these days, right? it's offensive when like a Gen Zer's like that's mid. It's kind of a derogatory statement. Oh, shoot. They're saying it's like... I think we should say middle class. It just feels like it gives the weight that it needs. I was starting out there. It was an option, Rachel. Gives the weight that it needs. Yeah. Well, do you think today's, today's drink is mid? It's something. It's pretty intense. It's pretty intense. It's a lot going on, as they say.

When you don't know how to taste wine, you just say, there's a lot going on here. It's very complex. Kind of like telling babies that they're so precious. They're so precious. They're so precious. Well, today's drink is called a Waldorf. And it's something. And I assume that comes from Waldorf, like New York City, Waldorf. Yeah, Waldorf, Astoria. Or Blair from Gossip Girl.

Anything, anything, anything? Headbands, vibes. You lost me. You got it. My knowledge of Gossip Girl is very limited. It's a great binge. You should do it. I think I was too busy watching the O.C.

Is that similar? Or Laguna Beach? That's like California vibes. Yeah. All right. But go wealth in Manhattan. And that's Gossip Girl? Yeah.

It's great. If you love a good boogie show, they're like ultra-boosy in Manhattan, which New York's my thing. So it just spoke to everything I wish I was. Wow. I'm just kidding. The truth comes out on Smart Money Happy Hour. I'm totally kidding. Well, hey, we're going to reveal the recipe for the Waldorf, our rating for it and the cost per glass.

So stick around to the very end if you want to hear that. Okay. So we're talking about middle class, George. So what comes to mind when you hear the words middle class? Because you hear it in the news, you hear it in pop culture, you hear it in everyday life. Yeah. I mean, I immediately think chilies for some reason. I don't know why.

I go food and I go, what is like mid-tier food? Yeah. Yeah. Chocolate molten cake. What's this? The skillet? Oh. The skillets at chilies?

No, I don't think that's skillets at chilies. I think they have a skillet. The molten cake is at chilies with chips and salsa. I was a TGI Friday's guy myself. Okay. They may have skillets there. Which was very middle class fancy. Yeah, it's great.

What about you? What do you think of middle class? I think about the backbone of America. Wow. Lay to flex on them. I thought I would, George. I think of like the working class. Yeah, well, I just think of like just the average American family out there.

Okay. He's like making it happen. Not ultra wealthy, not poverty. Just there's a huge population in between. You know, they're doing good. They're, you know, working hard and make a great income. and do well for their family. Middle America maybe.

I don't know. Like that's the vibes that I get. Like Midwestern folk. Yeah. Is that where you're going with? Yeah. But I do think it's a lot of like... I'm a Midwestern folk.

Exactly. But I do think it's how I grew up. You know, you get L.A. and you get New York City. And everything in between is like, all right, that's... Which is America. Can we just say that? Which is the real America? That's the real America.

I grew up middle class. Yeah, absolutely. I would say I grew up... Maybe I grew up... I don't know, bankruptcy? Where does that put you? When you're born. I mean, you guys had quite the comeback story with Dave Ramsey and Sharon Ramsey.

But we grew up like Olive Garden for birthdays. Like a nice meal was like we're going on the, and it still is today. It's expensive to eat out. Yes, it is. But you grew up middle class too, right? Yeah. My parents were immigrants from Egypt and Syria. And I feel like growing up, we never, you know, kind of struggled.

There wasn't this like, but there was always the kind of like, well, we can't afford that. There's a limit to life. Yes. But I never felt like I, I, my. Oh my gosh. You want to Blair Waldorf where there's no limits. Yeah. On Gossip Girl, for instance.

Yeah. That wasn't you. That wasn't you. That was. Okay. So here's a fun quiz, George. So everyone listening to take this quiz as you're listening. You ready for this?

And it's a yes or no. We didn't want to make it real simple for you. And the quiz is if you primarily grew up middle class in America. Okay. Yes or no. Did you have great value brand snacks in the cupboard instead of the name brand? Ooh. This is the Walmart brand for those either.

If you don't know what great value is, you're probably not going to class. I will say Sharon, Ramsey, cereal was always named brand. We had like the Captain Crunch. Like we had the actual branded cereal. Very classy, Sharon. But snacks may have gone more generic. How about you? Yeah, I remember having some generic brand, but we also had a lot of name brand.

We also didn't have like Walmart wasn't a big deal because I'm from Boston. So we had like more localized grocery stores. But we would buy a generic brand. If you had a plastic bag in the house where you stored all the other plastic bags in the grocery store? I still do that. One thousand percent. Because it's great.

It's great to have these bags around. Yes. I did get a bag storage thing, you know, that like... No, it's too bougie. Tuck all the bags in... Too bougie. You know, we ran out of ours. You ran out of bags?

Yes, because I think, like, the way they, like, some of the people that do the grocery bags, they tie them in double knot, so then you're like, oh, no, I can't save that bag. I just need a single knot, so I can undo the knot to use the bag in. You can untie a double knot? Not always.

Sometimes it's like really... Oh. and it's really tight. Yeah. But I love a good grocery bag. So that's me. That's me still today. Target bags, I think we can all agree, are the ultimate grocery bags.

For sure. They're the best. Okay. Next up on the list. Yes or no. Your definition of fine dining was Cheesecake Factory. Yes. When I went to Cheesecake Factory, I was like, we're going out tonight.

You're having a good time. Oh, my gosh. Can I tell you, I remember being on book tour, and this may not be matter to any of the listeners, but it was with Smart Money, Smart Money, Smart Kids. So this would have been 2014, and we were on the road in Preston Cannon, who does all of our publishing, he's still here at Roomsy Solutions. And we were on the road. And we didn't have a cheesecake factory in Nashville at the time. And we were out in, like, Dallas or something.

And there was a cheesecake factory attached to Mall. And I was like, that's where I want to have dinner. What was Preston's response? He was so angry with me. He was like, is this really what you're picking? Out of all places in Dallas, Texas, you want the cheesecake factory? And I was like, yes, because it's a minute. I thought it was like amazing.

You thought it was like a super high end. Well, not like, I didn't think it was like a steakhouse, but I thought like, oh, it has great food, fun options. It's just a great place to have dinner. And I still think that. It is, I mean, if you can get through that exorbitant menu, which is exhausting, then you can have a great meal there. Okay, next. How about this? If you had an outside fridge or a freezer in the garage that your parents refused to get rid of when they upgraded the better one inside, we never had this but the rich kids did.

Oh. If you had a, if you had a, if you had a refrigerator in your garage with drinks and stuff, those were like the rich kids. That's legit. How about you? Yeah, I agree. We just, my parents, we don't have an out at a garage fridge, but my parents back home, they now have one. But it's more to store like all the, my mom cooks so much, so much delicious Middle Eastern food. But I was like, dang, like, you're all moving on up with your little garage fridge out here.

Yes. So that's a good one. I'm sorry I said it's middle class. That feels upper class to me. Next, you thought coach was the pinnacle of high-end luxury brands. That was Rachel for sure. Oh, my gosh. Was this like you in high school, I feel like was huge.

If you had coach, he was like, oh, oh, like the patchwork purse. Like if you had all the, oh, oh, it was. That's Dutty and Burke. Dune and B. Oh, old D&B. Oh, my gosh. That was like the Dillard's high point. That was it.

It was. Middle class. For sure. Okay. What's next? Next is if you or your sibling did something great, the fam celebrated with the night out at the following. Chili's, Applebee's, Oh, Charlie's, Olive Garden, Cheddar.

That is the ultimate list of wonderful middle-class restaurants. That was our birthday dinners. Our birthday lunches after church was Olive Garden. We only went out like three times a year that I remember. And that was a special one. Yeah, and if it was your birthday, you got to go to Olive Garden after church, and it was such a big deal. I'm going to add two to the list

that I feel like are even a tier up from that. Okay. Outback. Yes. And Red Lobster. I know. We didn't do Red Lobster.

Maybe we were in Boston. New England was bigger on Red Lobster, I'm sure, because of seafood. But when you were at Red Lobster Outback, I was like, whoa. Now the biscuits. The biscuits. The biscuits.

Shetter Bay biscuits. Don't sleep on those. Don't sleep on them. They're so good. They still hit. Okay. Last one. Yes or no.

When it rained, your dad will put his hands on his hips and tell anyone willing to listen that we really needed this. We really, you know what? We needed this rain. It's so true. Lawn was getting pretty crispy out there.

Oh my gosh. That's so good. That's a good one. I know. That's like all dads that I feel like. Oh, all dad. That's a dad. That's a dad move.

That's a dad. Oh, he does still today. He sees rain and he's like, good, good for the garden. Good for the garden. Good for the garden. We need some rain. Okay. So hopefully, I don't know,

it's not really hopefully. maybe you pass that quiz. It's not really a pass-fail. I know. If there are a lot of yeses, we relate to you. Let me just say that. We get it. Okay, so there was a CNBC article from January of 2023

and explained middle class this way. Anyone who isn't living paycheck to paycheck, but couldn't necessarily just stop working tomorrow and be financially secure long-term. I don't know how I feel about that definition. I just feel like people make, I mean, we saw stats people making $250,000 a year of still living paycheck to paycheck.

So sorry, CNBC. I don't think I don't agree with that definition. And even the wealthy people, like, just to be like you could stop working tomorrow. We'll live off your investments and stuff. But even then, that's down the road. You know? If you're 43, even if you're wealthy, I don't know that you could stop looking. Think about our last episode we did about old money versus new money.

You're old money. You're like old wealthy people. They could. Sure. If there's like a trust fund or something like that, that's different. But yeah, I think there's way too many people, middle class living paycheck to paycheck. Yeah. And there's probably people making 40 grand who have no debt living on less than they make that are doing great.

Right, right. So it's so much more about your money habits than it is what you make, which is so true. So here's some just traditional hallmarks of the middle class, which is owning a home, owning a car, a college education for the kids, dignified retirement, health care coverage, and money for family vacation. That's kind of what they... That kind of feels like the American dream. But that kind of feels upper tier middle class or upper class. I mean, like, that's a lot right there. What they don't mention, interestingly enough, is debt. Oh, that's true.

So if you're leveraged with your mortgage, your car payments, student loans, you're not putting enough into retirement, you're taking out 401K loans, you're putting the vacation on credit cards, you know, that's a much more dangerous situation. Totally. So the Pew Research Center defines middle class as households that earn between two-thirds and double the median U.S. household income. So in 2021, the median household income was around $65,000. Okay.

So right now, the middle class would be making anywhere from $43,350 to $130,000. That's a huge range. That's a big range. I feel like making... $43,000 to $130,000. That's a very different lifestyle from $43,000 household to $130,000. Yes, that's like $100,000. I mean, yeah, that's interesting.

So if you're listening and you're going, okay, my family's in there. There's a huge range. Like, you might be outside of that and be broke. You could be making $200 grand to be broke. You could be making $60 and feel like you're doing great. There's so much that depends on how much debt you have, the cost of living in your area, your lifestyle, your expenses, your family size.

So it's not to say there's one that's worse or better than the others. I think we need to call that out. Yes, because right now people are going, how do I stack up? How do I measure? This is not like, hey, if you're middle class, you're doing it wrong. No, it's the quality of your life and your income sure can play a part in that, but also what you choose to do with your income plays a huge part in that. Yes.

So the Pew Research Center actually has a middle class calculator that will tell you your class based on income location and numbers of people in your household. That's interesting, George. We should do that. Okay. Now, what's fun, too, let's do this. Let's throw in some pop culture here because there's some TV shows out there and some characters on these TV shows and the jobs they have that don't. don't always match their lifestyle. You're like, well, how does she do that and make that living and live in that apartment?

So there's some fun, some fun characters. Okay, let's start with Big Bang Theory. You ever watch Big Bang Theory? I've seen a few episodes, but not a ton. I think I used to watch it back in the day. And I was like, oh, this is a good show. But Sheldon Cooper is one of the main characters on there. He's a senior theoretical physicist.

Oh, gosh. At living in Pasadena, California. So the median salary, and this is all according to Salary.com, which you guys, got to assume is the expert on salary. They say... There's an expert on salary. Salary.com should have it nailed. We'll see.

One would hope. The median 2023 salary, 119 grand. So the result would be upper class. Okay. Along with 17% of adults in the greater L.A. area. Okay, so the next one is Parks and Rec. Have you watched that one? Love Parks and Rec.

Because I... You're not a Parks and Wrecker. I'm not a fan. You get the last two. Okay, go. Leslie Knope from Parks and Rec, who is the director of REC. creation in Pawnee, Indiana, which is actually based off Muncie, Indiana, fun fact.

The median 2023 salary, almost 63 grand. Okay. And the result, middle class, along with 53% of adults in Muncie, Indiana. So pretty spot on. All right, next is Rachel Green from Friends. That's right. She's a waitress and a server in New York, New York. And the median salary for a waitress or server in 2023, according to salary.

dot com is $24,701. Wow. So the result is that she would be in the lower class, along with 30% of adults in the greater New York City area. That is actually shocking. I would think... New York City is so wildly expensive. Do they not include tips in that? That's the question I have, because that feels...

And next is another great favor. And that's like making $11 or $12 an hour. Yeah, which would just be like your... I think servers make more than that, depending on where they're working. Right. Next is Jessica Day from New Girl. Yes. So funny.

So she's a middle school teacher, season one, Los Angeles with a median salary of $71,290. Again, Salary.com. The result is that she's middle class, along with 49% of adults in the greater L.A. area. Good for her. And yet she had about four dudes as roommates. I know. Such a funny show. But hey, living in L.A. making $70 grand.

That's actually realistic. You're not getting your own space. Yeah, that's true. That's true. Yeah, yeah. You're going to have having some roommates. That's good. Okay, so we had some fun there, Rachel.

But the real question that people are asking, and if you watch the headlines, here's the big thing they're saying, is the middle class shrinking? Yes. Okay. So what percentage do you think of Americans are middle class? Okay. Let me think. Lower class, upper class. I feel like it's probably like a quarter on each side, which leaves about half.

Okay. Well, you're correct, George. 50. 50 percent of America. Exactly 50. 50 is considered middle class right now. So in 2021, 50% of Americans were considered middle class, and that number is a lot lower, actually, than it used to be. So we have this fun graph, which may be on video.

Maybe we can pull up and post. But it shows in 1971 that the lower income range of people in America was 25%. Middle was 61, upper was 14. Now, today, it went from 25 lower to 29. It went from 61 middle class to 50%. And upper went from 14 to 21. So more people have grown in that area. So lower class has grown, upper class has grown even more, and that has shrunk the middle class.

And the middle class has shrunk, which is why they say, is the middle class shrinking. Why is that? Well, I think one reason is that wages are stagnant. And the cost of living continues to rise. I mean, I feel like we see that in the housing market. in inflation right now in history that we're experiencing. So when you put all that together, it's like, yeah, I mean. Inflation has gone up further than wages have.

Yes, yes. Which would actually promote, though, I would feel like people struggling more in the lower class than the upper. Yeah, that's interesting. So the middle class feels like they're on the endangered species list. Because they're shrinking. They're shrinking. And wages are stagnant, like you mentioned. Cost of living is constantly going up.

Inflation is not going anywhere. and experts are calling this the squeeze. Oh. You got to have a fancy word to throw at it. What's happening? Okay. So let's talk about regardless of where you are, here are some points to remember always that you should still budget.

I don't care if you're upper class, lower class, middle class, being intentional with your money is something we will always stand by. And here on Smart and Running Happy Hour, we want you to be smart about your money. And budgeting is part of that. So that will always be one of the foundational principles to go back to. And Rachel, you talk about. talk about this a lot, but contentment is a huge part of this. Like practicing contentment,

choosing to do a little less of that middle class consumption, which is what the middle class is known for, by the way, if you're feeling that squeeze. And so it might mean you're eating out less. You're not going on vacation as much. You're paying off the debt because you need the margin. So don't put pressure on yourself to keep up with the Joneses, as you like to say, especially friends and family who may be in that upper class. And they're going, come on, just come out with it. it'll be a good time and you feel that pressure. Yeah, for sure, because that's real. That's hard.

That is really, yeah. And last, I would say to get creative. So think of new ways of living your life. You know, some people, they're stuck in this mindset of like, oh, how it's going to be, but think, well, what if I didn't have debt? Honestly, like, what if you paid everything off and you had no income leaving in the form of payments? What if you actually, you know, put a down payment down for a house that is not crazy out of your budget? Which might mean resetting expectations on the house you thought you deserve.

Yes, which is big. So I think it's like this idea of, okay, let's reframe what the world is telling us how to live and actually think about what is true to the numbers of our life. Because math, sadly, doesn't have emotion, George. That's true. Numbers don't have emotion. It is what it is. So get creative with the numbers you have and say, okay, how can we create a life we love in that?

On so many people, it's fun sometimes to point fingers and go, well, it's the upper classes fall and it's the lower class. We're paying for it. and instead just calling, what can I control? Because I can't control the economy and taxes and all of these things, but I can't control my own spending, my own behavior, my own expectations. And so a lot of people choose to go, like, we're going to move, we're going to downsize, we're going to make some sacrifices right now until we get on our feet or increase our income or until inflation cools down so that we can survive this.

To enjoy, yep. But I will say, team hashtag save the middle class. Is that a thing? out there. Yes, because it's true. I mean, with the middle class, when the middle class is thriving and moving, the thing about the average American family out there, like when they are doing well, there's better education, there's lower crime, better health outcomes, and higher life satisfaction. So people actually enjoy their life more, right, when you're content with what's going on. So I think applauding the middle class, helping the middle class, and seeing that

as like a, it's a prosper of society, right? I think they really are. It's the backbone of America. It is America, like you're saying. It's like you have L.A., New York City, and everything in between. And when the middle class is doing well, it's like it just, it thrives in society and who we are as a country. The middle class racial really sustains the economy. Like you mentioned, they are the backbone.

So there's nothing wrong with being middle class. There is something wrong with not living on less than you make, not being on a budget, staying in debt, trying to impress people for the wrong reasons. And so those are the things that I'm against when it comes to any class, upper class, middle class. Yeah, regardless of what you make. Lower class. And so there's no like, well, I don't want you to be lower class because it's a harder life. You know, I don't want anyone to be in poverty and feel like they can't achieve their financial goals.

But you don't have to aspire to be a billionaire either. Like, it's totally fine. Yes. You can love your life and make $50,000 a year forever. Yep. That's okay. Absolutely. As long as you're doing it on your terms for yourself.

That's right. That's right. So there's a great Instagram that just brings a little bit of levity to life. And I feel like we appreciate it. It's so great. It's called Middle Class Fancy. It was partially the inspiration for this entire episode. That is fair.

We saw Middle Class Fancy and we all related because everyone was like, yes, yes, yes. We all feel it. We all see it and relate to it so deeply. So there are some funny memes out there. So many memes. I don't know how do you describe a meme. I know. I should explain a meme.

I mean, obviously Sharon Ramsey knows what memes are, because she's on Instagram. But like, how do you tell people what a meme is? It's a picture. It's a picture with a funny photo. Photo. And or text. Yeah. Caption around it.

Mm-hmm. Okay, so this one is really funny, George. So this is a text conversation. It's a screenshot of some text conversations and a picture. So you be one person, I'll be the other. All right. Why is there a cheese fountain in the kitchen with a picture? of a cheese fountain on the table.

Like a fondue machine in my, I say. Our tax return hit. We agreed to put that in our savings account. You never support my dreams. And that is middle class fancy. Taking your tax refund and going, I'm going to buy a cheese fondue fountain. A fondue fountain.

You can put chocolate, you can put cheese. Melting pot. The melting pot. That's a big one. That is middle class. That was fancy. That was fancy. But that feels like.

Upper middle. Like that was, I could never afford it. That was like when you graduated high school, you went there for your graduation dinner. It was a big deal. That was a, oh my gosh.

Is that still around? I think so. The melting pot? I thought about it recently and I was like, I need to look at it. I need to go back to the melting pot. What? I don't know that I can afford it to this day.

We should do a smart money happy hour. We should do a smart money happy hour dinner at the melting pot. Is that a thing? Is that a thing? Is that a thing? Oh my gosh. Love a melting pot. Have you ever spent your tax refund on something

frivolous. I feel like I haven't gotten a refund in a while, so I don't know. I was going to say, Winston and I, we err on the side, we'd rather pay than be paid, if you will. Then give the government interest-free loan. I know. We're a little bit in that brainwash mindset. Yeah, I get that. But early on, yeah, I feel like when we got, yeah, if we thought one, it was like, yeah, let's do something. Yeah, let's do something fun. But I don't remember specifically what we spent money on. Yeah. Well, our advice for that, by the way, is don't give the government and interest-free loan. and adjust your W2. If you consistently are getting a refund, that's not a good thing.

You need to adjust your W2 so that you get closer to zero. To where you don't owe too much, you don't get a refund of too much. That's right. So this next meme is a tweet, and it says, being in Costco is such a disorienting experience. Like, what do you mean this is the cereal slash hot tub aisle? That is classic Costco behavior. They don't label the aisles and it's on purpose, I've realized.

Because they want you to, like, just wander through the store and buy stuff. You're like, I didn't know I needed 6,000 staplers, but I will buy them. The more money they make. It makes sense because you find stuff you didn't know existed. For sure. All right. The next one, our producer of Lindsay will really appreciate. It says nobody with a blank.

And then it says a couple you went to high school with who just bought a house. So we did a thing. And there's a mixture of them buying a house. That is classic. What happened a few years ago, Lindsay? I did a thing, guys. You were that person? I went, yes.

I did. And Jordan was like, no, you didn't do that? And I said, yes, I did. Yes, I did. You were proud, though. I was. I just thought I was hit with the rest of them. Should we put the photo up on the screen since we have it?

Yes. If Jordan agrees, yeah, put it on a. He'll agree. Yeah. He'll agree. So again, there's nothing wrong with posting your accomplishments. I think it's strange. There is something wrong with saying, we did a thing.

We did a thing. You can picture it too. Oh, no. Horrible. Oh, my gosh. God bless. Yeah. That's a lot for me.

It's a lot. It really is a big accomplishment. It is something to celebrate. Yeah, but maybe I didn't need to say, we did a thing today, guys. I get it. Lindsay, your heart is so pure, though. It is so pure. You did it with good intentions.

Guys, thank you. You probably liked the photo anyway, so I appreciate that. I need to go back and check if I hit the heart button on it. I probably did. Now you can before I get back to it. Okay. The next one is another. tweet and the original tweet says

before social media what did people do to get attention someone quote tweeted it with the response order fajitas which is just perfect because we've all been there you've been in the Chili's and you ordered whatever Rachel gets

and then it's the service coming out they got special gloves on there's like a there's like a two foot wooden board they're carrying it on and everyone's head Who's that guy?

The heads are turning. Who got the fajitas? And then you're jealous. You're going, I should have got the fajitas. I should have been the bell of the ball. Look at them. Look at them getting all this attention. Look at them getting all this attention.

Is there someone in your family that is that person? That would do it with like kind of the underlying, like they want fajitas, but they kind of know like everyone else is going to be like, oh, dang, they got the fajitas. Who's most likely? Oh, my gosh. What's the superlative? My dad, I would say, maybe, Dave. He would get the most grandiose. He would do like the table side or like the, yeah.

Tableside guac. Or get the, the, the, the, like, whatever the thing is, right? That's a flex. Love the seafood tower. But I'm using the beneficiary, so I don't complain. I'm like, sure. Wow. I want it all. I'll take it all.

Yeah, I would, yeah. But are you over that person who order something and someone else gets something or if it's Winston and you're like, oh, that looks way better? That is me? That's me all the time. I'm like, can I have a bite of that? And then he ends up eating your meal that he didn't want. Because he's a nice person. I will say, can I have a bite of that?

Or someone orders him like, oh, I wanted that too. Can we, you want to split? I'm a splitter. You're a splitter with like random people. Not like in the restaurant. He's like, hey, you. Can I ask him that? She's walking up to tables being like,

that look, you want to split? I got the enchiladas. Yeah, no. Not that deep. Well, we recently went with the team and we had a great Mexican meal. What city was that? Salt Lake City. Oh, yes.

did you're right and yeah red iguana the red iguana shout out to red iguana really great it's all like but you didn't ask to split with any of us no i got a full one because it wasn't on my tab i didn't have to pay for it there it is so i got the red iguana meal with everything and i was like i'm gonna do it all so rachel that was fun but i got asked the question before we wrap is the middle class extinct are you worried about no no you're not freaking out about it you seem very calm i yeah i don't i don't i don't think they're going extinct no no That gives me great comfort. How about you?

I'm not too worried about it. Looking at the actual stats and showing that the upper class is growing at a fast rate than lower class makes me feel like we're moving in the right direction. Yeah. But I truly think with the record high levels of consumer debt that we're seeing, from auto loan, student loans, mortgages, credit cards, we have a problem in America where we're obsessed with debt. And I think that is what's causing people to feel stuck,

to feel like they're not even in the middle class. They're going, well, I wish I was in the middle class. That would be great. I can't even get there. I think debt is the biggest problem in America today. Yeah, because it steals your income. So regardless of your income, your money habits play such a role in how you feel about money. Being free from debt and being free from money stress is it's a huge part of our message and what we want for everyone.

So it's what we want. Regardless of middle class or not, be free. Be free. And hey, if you're middle class fancy, you make me happy. So thank you for being you. Middle class fancy. I love it. All right, so it's almost the end of the episode, and we close out every episode with guilty as charged.

And this is where our producer, Lindsay, gives us a new guilty-as-charged question every week. And if we are guilty, we have to take a sip. All right. What's something you were jealous of your friends having when growing up? That was really just middle-class fancy. Oh, like the friends you were like, oh, my gosh, they're rich. I mean, a hot tub? If you had a hot tub, you were rich.

That's a big one. Did you have that friend who, like, you went to their house? you're like, oh my gosh. They have a hot tub. That was a big deal. Or the couches with like cup holders. That was next level. And every seat recline.

And every seat recline. If you had the multiple reclining, that was next level. That's a big deal. For me, it was like if you had like a basement that was like the playroom basement. Oh, like a finished basement. Yeah, the finished basement. Big deal. Next level.

Yeah, if there's like a game room or a computer room or like that, that was like, yeah, you're rich. At that point. For some reason, a basketball hoop felt like, whoa. They got a basketball. An in-ground pool. You were made of money if you had that. Even an above-ground pool, like, there was none of that. Like, I guess because in Boston, there's less pools.

Yeah. But my best friend had an above-ground pool, and I was like, they've got some money, man. They're doing pretty well. They're doing good. Doing good. Pools, hot tub. So I guess water and reclining furniture separates you.

Huge. That's amazing. Huge. I felt that for sure. Oh, yeah. Oh, man. Good times. But now looking back, you're like, it's like normal. A sofa with a cup holder. They just had more money than our family did. Yeah, it's true. Or they used debt. Dun, dun dun dun.

Dang. What's the thing now that you have that you're like, young Rachel would have freaked out? When we built our house, we did a separate ice machine. Whoa. Like a separate machine that just makes ice. Yes. And it's like my thing that I'm like, it just, it makes me feel good in life. That is the boogies. And it's like the sonic guys.

I was a boogie move. And even when we were building, they were like, well, you can do different like shapes for your ice, right? So you can do like the classic, which is the cheapest. you can upgrade. Anyways, it was a mid-tier for the Sonic Ice, and I was like, I am going to put that in the budget. I'm in the wrong business. I didn't know you could sell Sonic Ice as like,

this is the... Middle-class thing. What is low-class ice? Probably just like the regular cubes, like we get out of our refrigerator. Oh, yeah, yeah. Nobody... You're better than that.

The regs, the regular cube. So, yeah, that feels boozy to me. That's good. We have a supervised machine. When we bought our house, we redid the garage floors because they were, like, all cracked. And we got the fancy, like, speckled garage floors. And I was like, that's boogie.

I think this is it. I think we made it. I made it. And then your kids will be like, I remember middle class fancy of the fancy garage. The garage floors that are speckled. Yep. Oh, my gosh. So good.

So good. Love America, George. Love it. I want to wave a flag right now. Greatest country out there. An eagle fly over. It just feels right. Can you just call out that if you live in America, like if you're in lower class, you

were still wealthy compared to most of the world. 0.01% of the globe. Yeah. For sure. And so it just goes to show you that contentment, comparisons, like, it's huge. Yep. All right, George. So our drink, did I?

It's called the Waldorf. I know. Did I? I think we're about equal. I don't know. We did not finish it. We'll say that for the listeners. It's a little too.

It's intense. It's very boozy. I will say that. What's in it? The Waldorf has absinth, which is probably what you're tasting. It's kind of that liquorish taste that you're getting. Yep, I got that.

It's got rye whiskey. Yep. It's a little more spice. It's got sweet vermouth and bitters. Okay. And it comes out to $3.47. So it's a very, I would say, alcohol forward drink. But if you like the licorice kind of taste, you would probably love this drink.

So I'm going to give a... So is that a drink you can go to like just a restaurant and say, I want a Waldorf? That's a good question. I don't think so. I think you have to go to a pretty uppity bar. Okay. So this is a very specific cocktail. Yeah.

It's good tonight. I would give it a, I'm going to give it a seven out of ten. Yeah, gosh, am I doing group think right now? Because I think I would say the same. Really? Maybe six. Okay. It's a little harsh for you.

Yeah. Yeah. That's fair. Well, if you want to make it at home, we've got the recipe for you in the show notes. So give it a try this weekend, if you are of the persuasion. Yeah. And let us know what you think. That's right.

So it's closing time, George, of this episode. It's been so fun, you guys. if you love this episode, please leave a review. We read them. We appreciate them. It helps with the algorithm of getting this podcast in front of other people to hopefully give them a smile, a laugh, and a little entertainment with their money. So make sure to leave a review, subscribe if you've not subscribed.

Because next Thursday, we're going to have a whole new episode of Smart Money Happy Hour.