It's unbelievable how many families do not discuss finances leading the next generation to go blindly into their lives. Talk to your kids at an early age ppl.

There is potential for considerable wealth increase with the correct strategy. I want to know; How can one take advantage of compound interest and potentially grow your retirement savings/net-worth to about $3M over time?

When people ask for advice or not, they learn to appreciate the info you give them because it usually comes to fruition later. I recently had someone thank for info I was giving to someone else. I didn't know they were listening

Thanks Rachel I just love your positive energy! I am financially well off by realizing that it's all about setting good daily habits and stick with them.I am also a high school business teacher. This year is a big year for me and my spouse. Our house will be paid off by the end of the year!! Whoop Whoop! Have a great New Year!

I just called my brother as he has worked in finance before and I asked him were his has his investments. He and his wide were in their appartment in Barcelona so when he comes home (to Sweden) he Will call so we can meet and he will give us his opinion on where to put our money. I would never have thought about asking him for advice, even though he worked at Goldman Sachs in London with investments of other peoples money. Thank You for excellent advice Rachel! 🙏

I never knew how to budget. Trial & error. Never knew about Emergency or Sinking Funds. Teaching my 5 kids all I have learned . I learned from KZfaq, not from family or teachers………

I love the tip about getting tips from people who are great with money and who you admire or can get help from. My dad was always a huge saver. From the time I had my first job, he told me to pay myself first and always have an emergency fund. He reminds me a lot of your dad, Rachel. Thanks for all the great advice and happy new year ❤️🎊

Very good advice!

I love Tapple! I found it half price when Rite Aid was closing one of their stores. We had a blast at Christmas. I love your content. I’m just getting started with baby steps.

Such a great video - great on you for helping educate others.

It's a whole heck of lot higher than 40%

Thank you Rachel. Good info.

Thank you Rachel for the inspiring work you do :)

She’s literally iJustine but for finances, the exact vibe I need!! Always so well explained for anyone to understand.

Thanks Rachel for all you do to educate! I was given Total Money Makeover in 2016. Have taken you and your dad's classes too. I've learned much and at 59 I am always learning. I've found other resources through the years.. Bogleheads, JL Collins, The Money Guys etc. Your words mean much. Blessings and keep up the good work! Mary

cheers to those that are sick of being sick and tired!

Hi Rachel. I remember you presenting at one of your dad's events when you were 16. You did a good job then, and you're still doing a good job. Blessings.

Insightful and inspiring conversation 🎉

Zero based budgeting is impossible for a lot of people. It’s possible for me, I know how much money I’m earning every month for the next 5 months, but a lot of people have incomes that fluctuate monthly. Sales reps, people who work short term jobs (techs in the entertainment industry, self employed tradesmen like plumbers, people in retail/food service who are paid monthly bonuses or tips, and more), and more don’t have predictable incomes where they earn the same amount every month. For people whose incomes fluctuate, my advice is to start with a bigger emergency fund than $1,000 for those months where their expenses are higher than their income, pay their routine bills with the first money that they earn every month, and then use the rest for saving/investing and/or entertainment like going out for dinner.

40% seems low. I would have thought closer to 70%.

This is a good one for the end of the year to set someone up with a new plan for the New Year. My December spending is sort of a bust, besides Christmas I also have a Birthday, and I find in the week leading up to my Birthday I do some frivolous spending. It’s sort of in my budget, and it’s just a bunch of little things. But December always ends up a higher than normal spend month. All ready to restart, readjust, in January.

Thank you I'm going to look into a better saving as well as an emergency fund this Tues... Thanks again 👍

Love the idea of a zero based budget! Will do so this month

I’m getting sick of the board game promotions TBH, other than that great video 😊

My approach was not to spend more than I earn, minimize my expences. Single income family, one child, retired at 58. Being a Canadian (Quebec) truely helped. I started saving for retirement at 23. Single car and I cycled to work year round, a second car is a waste for single income homes.

I always enjoy the tips but it would be useful if you would provide where the stats you're quoting come from. Some of us like to go back and read the entire article.

I already use Every dollar, watch several KZfaq videos like yours and George Kammel, I also bought one of Dave Ramsey books and um even though my income is just SSI and SS I try to make money stretch for all I need as much as possible if anything

Started the total money makeover journey close to 15 years ago. I found myself being better at paying off debts than I was at putting money in savings. In my mind, DEBT was a much EASIER TARGET TO AIM AT, but SAVINGS was for "UNKNOWN TARGETS." Does that make sense?

Rachel - do you have finanical outlets/newspapers you follow?

Love your advice and your pretty pink sweater. Our daughters are just starting their careers and establishing households. They were great with money during college and have learned to not misuse credit, to budget, and shop secondhand. I want to start teaching them about investing as they are starting to earn more. I have mentioned Ramsey Solutions as a resource for them as well as a few others. I want to help guide and teach them, but not be nosey and overstep my bounds as a parent of independent adult daughters.

Do you have recommendations where I should consume news? It’s overwhelming how much information out there.

Will Every Dollar ever be available in Canada?

This is “The Dave Ramsey Show”!

Rachel can you put a link to your cute sweater?

I wish the every dollar app was available in the UK. We can’t download it here

My son is 18 and in college and asked me if he should get a credit card in order to build his credit score. I gave him my thoughts on how dangerous credit cards can be some of my own personal challenges I've had over the years with it. Anyone have any links to any Ramsey videos on that? Please

Going to try tip 5. My money market account is lack luster so I am going to research some high yield savings account options.

good info! but Can you please not have the annoying music bed? cant watch the whole thing do to the music bed :(

its wild to me that its legal for interest on loans to be 15% plus. and how interest rate on a savings account is legit .01%. and we wonder why people are falling behind and not saving anything..?

Spreadsheets are easy to use and you don't have to pay for them. Zero based budgets aren't good for some people. They don't take into account special one off purchases or unexpected costs in a set budget area. I have always had a flex part of my budget that's at least 10% of my take home pay

5:42. I love them to Rachel and I'm reading George's new book right now, but are their ones you like outside of the Ramsey family?

On the one hand......"Listen to experts you trust" - sounds great, but what defines an expert? On the other hand, "understand your spending (personal money) tendencies" is excellent.....

mutual funds is not good advice. A lot of people don't know about the fees the fund charges. People please do your research!

First I love that your earrings match your shirt. Second, question, I'm a teacher and I get paid extra for extra programs I work at the end of the month, CNA you tell me how to work tha t into my budget and how to spend it? Thank you

#4 down pat. That’s an easy one.

It's sad how difficult things have become in general in the present generation. I was wondering how to utilise some money I had. I used some of it for e-commerce business, but that sank. I'm thinking of how to use what's left to invest, but I don't really know which way to go.

Can I just ask, I've been seeing loads of suggestions for dividend investing lately, but is it actually legit? Just running some quick math, I have some funds I'm already invested in that seem to average 9-10% annual returns (some years even higher), while a lot of dividend funds seem to drop less than that. I know there's the idealized point that you can live off of dividend payouts, but that seems like you would need over 1.5mil minimum invested in dividend accounts to reach the point of them replacing your paycheck. Seems like my money would be put to work better with the funds I'm already using instead of getting into the dividend hype.

What HYSAs should we use? You always say to get a high yield savings account but never recommend specific ones. Thanks!

I have a question about your first tip, my income changes every month due to fluctuations in my overtime. My budget is based on regular time, how can I budget the overtime if it is variable week to week?

I'm going to do a money personality quiz

It's just disgusting that there so many bad stats out there that prove that we need finances in the classes and we aren't teaching we are literally holding our kids back

My ex when we brought stuff to the table was like I brought the food and she brought the plate and took the leftovers lol

EVERY DOLLAR APP DOES NOT WORK IN CANADA 😢😢😢

I love Rachel and all the content she is in, but her voice is always so much louder than everyone else in recordings.

Rachel, how bout a dif game dat doesn't need batteries 🙄

Reality is we dont make enough to afford high cost of living, inflation and pay off debts! Just survivng! 😢

I might look into better accounts.

Buy her book 😂

mmhh so she mentioned that the video she watched claims that "40% of the world..." ... considering that based on an income of less than $6.85/day is considered living in poverty , the global poverty rate is 46.9 %.....

how about showing me where are the 100k a yr job or more are at. I can't be working at KFC 7 days a week and uber on the side to pay off my debt and build my retirement

Hi Rachel, Good video but that background noise/'music' really put me off! Hope it won't be a regular feature! I couldn't concentrate on what you were saying.

Much of the world lives in poverty and doesn't have clean water.

Rachel is smart and beautiful

'Changes in the economy constantly'.....Ramsey plan hasn't changed since 1991

40%? So that means 60% still know more? What the heck 😂

the fact that educated people that spend 60 plus thousand on a education and you know nothing about your money..... what did you go to school for???

I know how, don't listen to Dave Ramsay and his claim on 8% safe withdraw rate, claims of 10-12% market returns

In case you didn't know this Rachel but of the more than 330 million Americans in the United States their are still millions of people who don't have knowledge because they are poor , no internet or negative influences in their lives

I prefer the 1/3rd rule. 1/3 for bills, 1/3 for spending and 1/3 for saving. Or whatever is left after bills is split between spending and saving. Can't invest if you can't save. The video is too vague and you spend too much time explaining the obvious.

40%? Talking about setting a low bar

I am here only because she is so cute.

I say higher than 40 percents.

Better then 40% Still below average

While I appreciate this video, it's important to have poor people in society.

I just put $580K down on an $850K house, but have $155K left in my high interest savings account at 4.25%. I already have $95K in a Roth IRA where I'm already maxing that out. Where do I put my excess $155K savings? Is it okay to invest the majority that in an Index Fund? I'm 37 currently. I feel like I'm saving too much money, and not investing enough.

I think 40% is closer to 90%.

40% is financially illiterate? How can it possibly be that low?

Smarter than 40% wow way to set a high bar 😂

Im sorry, but there is no way that 60% of people do this? Smarter than 40%? I'd say Smarter than 95% of the people looking at most people finances? Read up on world economics and finance? I think not?

Why only 40% of people?? Does that mean the other 60% are more literate?EDIT: just joking

Just have a rich father like Rachel and you're set

How can you be Dave's daughter? You are too beautiful =)

To become financially smarter than 40% of people means you are less financially smart than 60% of the population. Is this really the goal?

Taking investing from Ramsey's can be make you more financially illiterate than average American. ELP cough..cough