*DONALD NATHAN SCOTT.*

I grew up poor with food stamp sources of food supply. My sibling, and I saw how my parents treated money with no savings. They never taught us how to save. We all go to community college and transfer to state schools while working part-time. We learned the concept of stocks, bonds, and savings from community collage. Fast forward now. We broke the cycle of poverty. We live half from our income, and the rest goes to investment. with no debt, house paid off, and we are in our late 30's .

“You’re not eating the entire pack of bacon in one meal.” Challenge accepted.

I didn’t know you could sing 😭 you literally had me watch an ad read because it was so damn entertaining! THAT’S how you do an ad read!! 👏🏼👏🏼👏🏼

My last wheels cost $3000. Six years later it's still worth $1000. No loan. Repair expenses so far about $500 total (alternator and 2 tires). Cost of ownership for me is $417/year or $34.75/month. Take that car payment!!!! I only insure for liability which is $30/month. I have no plans to trade up. I'm going to drive till it can't go no more, then find a cliff to push it off. I have this superpower called being 75 years old and no women to spend $$ on. My net worth is about $500K and growing. I cook everything I eat also. My total budget is less than $800/month and I haven't spent all of it yet.

I think George underestimates my willingness to eat an entire pack of bacon. Still sound financial advice regardless.

My favorites are the "I'm going to die if I buy a $5000 car" people. Wahhh.

It doesn’t matter what you say, people will always have a problem with it. Especially when you start talking about taking responsibility for your actions/ decisions.

The real reason people don't think cooking at home is worth it is that they don't know how. Spent $10 and 20 minutes on dinner for 4 last night.

2:24 Don't forget: cooking at home is generally healthier. You know what you put into your food. Restaurants and prepared meals usually use a lot of butter, salt, etc. How come everyone is health conscious with gyms, yoga, etc. except when it comes to food? Like putting salt water in your gas tank but waxing it every weekend.

Um I couldn't afford to decorate for almost 8 years... and then I could only afford goodwill, yard sales, or thrifts.

When I was in my twenties, I was so poor. Investing advice seemed like a cruel joke when Wells Fargo was fining me $35 per transaction that I was over on my bank account. That comedy bit about being poor by Lewis CK really resonates with me. But now that I’m more advanced in my career and I bought a house when they were still cheap, I’m finally able to save and invest. I’m even excited about it because I’m seeing my investments grow. I just hope I’m not too late.

The only thing I have an issue with is the 25% of your income & 15 year mortgage. It really is highly dependent on your job opportunities + income vs. where you live. And the ditching credit cards.

Aldi had bacon on sale for $4/lb last week and it's 9.50 for 2 pounds at publix right now, no thrift store needed!

Can’t agree more with everything. I meal prep to save money. My husband travels for work and he complained about feeling horrible eating out, so I make meals and keep them in the freezer. He takes a cooler with him and goes shopping in the freezer to decide on what meals he wants for the week. Saves A TON of money!

I never understood the "You can eat out cheaper than you can cook" argument. Like by definition for the restaurant to make any kind of money whatsoever the food has to be more expensive than what you can buy the ingredients for

I mostly agree. But I do sympathize with those complaining about cost of living. I live very frugally and there’s no way I’d have a house if I didn’t buy one before prices doubled. And I have a good income.

Four years into a 15-year mortgage at 2.375% and I couldn't be happier. I'll have my primary residence paid off by the time I'm 46 and then we're 100% debt free.

We did a 15 year mortgage as advised by my in-laws. We saved, waited and put more down, compromised what type of house we still live in (1800 sq feet not 3000+ sq ft). But, in our early 40's it was paid for. It's a fantastic feeling. We got picked on by family members, don't care. It was a great feeling as our kids were graduating to not have a mortgage, so we could help with college. Now we focus on retirement savings and fun projects inside and outside the house all with CASH. Rock on George!!! People gonna hate and whine.

Ever since downloading every dollar and watching more Ramsey content my husband and I have cut back a lot in n eating out or picking up coffees.

How in the HELL does anyone think eating out is cheaper than cooking at home????

Aldi is the goat for saving money

One excuse for not buying used cars is they’ll need repairs. No $10,000 car will cost you as much to repair as the depreciation on a new car. You could replace the engine and transmission for less than the first year’s depreciation. People scoffed when my brother bought a 100k-mile Camry, but he drove it another 150k miles.

Last night spent $300 on a meal that was so-so. Sometimes it's terrible to be great home chefs.

Thanks for the elaborations, George! People need to stop being victims and do the stuff.

I took out a car loan for my first car. I put half of my net income into paying off that 12% interest rate. I made 3 payments per month for 18 months and the car was paid off. Then I had an extra 823/month to put into the next car which I purchased 12 years later. During that investment time, I put away $98K into investments then I paid ~$19,500 for my next new car. That car lasted 11 years and I invested another $108K, before buying my next car for ~33,000. That was 12 years ago and I am planning on buying another ~33K car as soon as this one breaks. Yes, I do average about 12% per year investing in the S&P500 fund.

People come up with all kinds of excuse to be poor. Stop eating out, drive a 10 year old car, don't buy coffee, blah, blah blah. But you know the one thing people refuse to do? Make more money. If you have to forgo life to save money, you are in denial about your income. And living like shit to save isn't the same thing as being wealthy. You go to to both. Live and invest. And now I'm going to piss off 80% of you. Here it goes. 100k a year isn't middle class. So, stop making excuses and go make more money. You only live once. I think I'll dine out tonight.

If your gig with Dave Ramsey doesn’t work out, you can always become a singer songwriter! 😂

Reading "hate" comments is a fun part of having a KZfaq channel, in my opinion. It means people are passionate about the topics you cover. I think you should make the "I Triggered People..." a recurring topic. I bet you'll get a lot of views and some laughs. 😀

George, I'm glad there are level-headed, common Sense investment teachers like yourself and Dave out there. You teach in a fun way too!

@5:37 "Laurel Road take me home" best sponsor shoutout haha

Thankfully, I'm one of those rare birds who cooks better than what I can find in restaurants. If it weren't for my feet limiting how long I can stand, I'd probably have my own restaurant or food truck. As it is, my family eats better dining in than my neighbors do eating out, all while saving money and exercising my creativity.

Somebody ought to check on boo boo bear 😂😂

I am 65 now and we were taught in school that housing should be no more than 25% of your income. I do know today that would be quite difficult in most parts of this country, but doable in other parts of the country.

It shows how detached from the truth Americans have become that they actually believe it’s cheaper to pay someone to cook for you, than to cook for yourself.

Solid. Cover. George. I have seen the tele on the wall behind you, and thought..."nah." I was wrong. Fun fact, every time I heard "Laurel Road" I immediately started singing "Country Road" in my head.

My wife and I went out to a homemade Italian restaurant (homemade noodles etc..) she got soup, lasagna and cake. I got soup chicken Parm and cannoli. The bill was $78 I almost choked. We haven't been out to eat like this since COVID. We will do Mexican food and that's under 20.00 for both of us once in a blue moon. It's way to expensive to eat out.

the people who complain about your advice are lazy, entitled, and want instant results. ignore them. they want things handed to them. they dont want to work for things. they think by merely existing, they deserve things.

They act as if you arent just spouting the same advice EVERYONE has been saying forever

George!! You are a phenomenal singer. Honestly- that was one of my favorite parts of the video. Well done!

Not eating the entire pack of bacon? You underestimate my ability to eat bacon.

Yeah, no one is saying a 15 year mortgage at 25% of your income isn't sound financial advice, it's just unrealistic...

You are spot on with every topic discussed but a lot times the lack of knowledge application and discipline are the main reasons we don’t achieve most goals. Great video

I have taught all my children how to cook from a young age, very good parenting advice. They save so much money from eating at home. Fast food is pure garbage and restaurant quality has gone way down.

Experiencing your musical charms made every second of this vlog absolutely worth it! 💚

Love your advice and love the humor too.

Just saying. Other day our local grocery store had bacon on sale for $.99. We bought 35 packs and froze them. They should be good for about a year

Hey George loving the vids. Given that it’s grad season and some people tend to travel, would love a vid on travel trips for saving money for recent graduates like me. I’m currently traveling Europe and have been buying sandwich supplies from grocery stores for my lunches and can definitely confirm it’s cheaper than eating out.

Lmfao the thumbnail love it

I'm so impressed by your musical talent!!!! Btw, you're my favorite nerd! Keep it up!

Keep up these awesome videos. The stuff this man teaches is not easy but will build you wealth 100 percent.

I am learning a bunch from your videos and like the way you present them. Thanks

Kamel Kamel Kamel!!! Well you have to explain these simple things in a video makes me believe there isn't much financially intelligent life in US 😓

The process of trading can be complicated when you have limited knowledge. However, with the right strategy and setups, you can be successful. That's the whole point of investing.

At 22, I started putting 10% of my $7.25/hr wage into my 401k. As I made more through the years I upped it by a percent or two until I reached the max annual contribution. Today, a few months from my 50th birthday, my 401k is in the very high 6 figures.

I’m 17 and bought my a $9000 car in cash. Also have another $10,000:) I’ve not been given any of that!! I work full time and do school online simultaneously:) No excuses if I can do it you can to Love the advice George😃😃

You Shouldn’t be in a restaurant unless you’re working there.

When i heard you talking about the fact that once you are ‘off the clock’ your time is worth nothing, it reminded me of a micro economics concept, called ‘ opportunity cost’, which considered the best alternative use of scarce resources, be they time, money, etc. If cooking at home is cheaper than eating out or ordering a delivery, when the extra effort to cook will impact you negatively, then it is the best choice. Ordering doordash, might save you effort, but are you earning in the time you save?

Well explained George. I personally know so many people like this

George, thanks for another hilarious (but accurate!) episode...not to mention an uncanny John Denver spoof for your bank sponsor!

Thanks for your videos, George. :)

We got a 30 year fixed rate mortgage with the intention of paying it off early. The goal being 18 years, ie when our daughter was college age. So whenever we had extra money we made extra payments. Paid it off in just over 16 years, but had that freedom to control when we paid more and when the budget was a little tight we just made the normal payments. That might not work for most people, but worked for us. You do save on the interest rate on a 15 year mortgage, but it is a higher monthly payment.

1:48 people flagging Dave Ramsey on this 30 years so should, theoretically, have their mortgage paid off

George, thank you!! ❤

You’re amazing at your meme game. Also your point about not eating the whole pack of bacon is a good point. I never thought about it that way.

I thought this video was going to address the one where he suggests saving $100K in 3 years, while making Gross $75K a year, but actually really suggested you need to make $100K a year, and even telling people to stop investing in their retirement. Nope.

They expect everything to happen right now...with time the rewards will come. Yes prices now are bonkers but if we are intentional and strategic with our money, we will be fine

Great video as always.

Great wisdom here George. And good natured.

I love this episode, it is so funny to watch answers of ignorant people.😂😂😂

Everyone in Nashville is secretly still trying to be a professional musician...

Anyone who argues that you can’t save money by eating at home is a moron. They just don’t want to be told to stop eating out. I make a dinners that feed 3 adults with leftovers for lunch the next day for $10-$15. Really nice dinners with chicken and vegetables. It’s become like a game. I love getting that store ad and seeing what’s on sale and strategically buying meat in bulk and stocking my deep freezer.

I’ve learned an awful lot from you, so I just don’t even worry about it if I don’t happen to agree with something you’re saying. You’re just so darn entertaining it doesn’t even matter!

Finally, somebody roasting and speaking facts to the commentators lol this is platinum!

The system has these people by the balls just hit every day goal and it didn't take that long

I only disagree with one thing here and that is the whole 0% idea for auto loan. I think George is way off base here. The 0% auto financing is 99% of the time offered by the manufacturers financial arm. To say you have to pay full price is completely wrong. They could care less if you pay full price. Why? Simple they have already been paid once for that car by the dealer (ever hear of a floorplan?) The dealer could in theory use it as a marketing tool but I say just move on to a different dealer if they want to play games. Yes, the manufacturer wants the dealers to sell, but the statement of needing to pay full price to get 0% is just 100% wrong.

I just turned 23, I have 15k in my TSP. Moved into my 2nd house granted it's on a 30 year mortage. But it's small and doesn't kill me month to month. I'm proud of where I am only making 60k a year with no college degree working for tbe government. I have 2 kids they were a big wake up call and I've built all of this within 3 years.

The bit about food prices are true. My wife and I gathered the actual cost of the ingredients we use in all the meals make on the regular. They ranged from about $4 (for an instant pot macaroni) to about $22 (for French dip slider), with most around $8, and that's for the whole meal for a family of 4, and many of those leave leftovers. Our conclusion was that the only place you can eat out and not lose huge is at Costco/Sams's Club, and that's only 'cause they take a loss on the food since it's part of marketing.

I love cooking dinner for my family versus going out to eat. I have learned that I still spend a lot on groceries but I would rather spend that on grocery's that will last for weeks then to spend it on something that's gonna just be in that moment and I did splurge on some fast food one night and learned the time I spent to get that food I could've been nearly done cooking at that moment. Then recently I have been using and eating up what we have as leftovers and it has been saving on our grocery bill and it saves me energy from cooking every night and I haven't been throwing away food as much😁 win-win! I take all the advice I can get! Bcuz me and my husband are trying to save money for a house and emergencies while paying off our debts. It's been working for us. Our struggles are are the small expenses like $1 to $5 or a lil more everyday and almost every day. And we have some things that come out of our account like subscriptions and such

You'll soon become CTO (Chief Triggering Officer) in Ramsey Solutions

Hmm, I leased a car before(back when I didn't know better), it's interesting that person says they do not pay for any repair or maintenance, because that was definitely not my experience with leasing. In fact I paid for everything.

George, you are so right, down the middle right!

These videos are too entertaining 😂

George, you didn’t actually answer the first criticism tho!! No one is arguing that it’s not a good idea. They’re just saying it’s impossible for the average person. I live in Spokane WA and buying a SMALL, MODEST house at 6% on a 15yr fixed means a house payment of >$3k. So you’d have to make $12k/mo after taxes to be able to afford it…..

Honestly, cooking at home for us is so much more enjoyable! For one, i can drink as much alcohol as i want and cook! No worrying about having to drive home drunk. Plus, grilling is just a good ol pastime.

You know which one he's not gonna talk about? The fact that he said 3-4% withdrawal rate instead of the Ramsey party line of 8% lol Btw, the 8% is because y'all don't have enough money to retire on cause you don't save enough early enough to retire.

I don't see the point in doing a 15 year mortgage right now. The rates are virtually the same as a 30 year. And you can always pay off the 30 year more quickly by making extra payments.

"Breaking Free from Bread," 😅😅

I watch everyone in their fancy vehicles and wonder when did it become a thing to have a fancy container to dive around? I spend more time in my house container. It’s not the Tupperware of houses, but it’s comfortable. I’m out of debt and it’s great.

I'm pretty sure your biggest hater was Dave when he heard you mentioned the 4% rule.

Most people can't qualify to purchase their first home with a 15 year mortgage. It's usually going to be a 30 year note. However, on your next home (or refi) shoot for a 15 or 20 year mortgage. And stick it out until you pay it off.

lol. love the country roads reference.

Meanwhile in the uk, we have finally got the chance to vote for/ against the man who introduced a Covid scheme called " Eat out to help out" ! On 4th July !!

I bought a used truck for 12k.. paid it cash. 5 years later it still runs great. At most I have put about 1,000 in repairs but mainly due to preventative maintenance. The dude that bought first probably paid about 50k for it.

coffee in kureg at work about 30 cents a cup well i use the cups twice though cause why waste coffee if i add creamer and splenda closer to 40 cents coffe shop in my town same coffee 3-8 bucks depending were you buy it.

i agree with most everything you preach. i love you george. but living in california, finding a mortgage for only 25% of my take home pay with a 15 year loan is nearly impossible to afford. especially with jobs calling us back into office and no more work from home.

As an active listening exercise and sharing my own experience, here's where I'm at with this. 1: Unfortunately close to 50% of my take-home salary goes to rent. Grad school isn't known for its salary, and rent isn't exactly low in my area. And this is the cheapest apartment I could find, too. My only option has been to live in a more Spartan manner. It sucks, but hey, I'll do what I can. Engineering pays well once I'm in the work force, so I have that to look forward to. 2: Where I'm from, cooking is a sacred thing, so this really does go without saying. Especially shopping at ethnic grocery stores where the clerk and I speak a common language. They're more affordable, friendlier, and they typically have something you can't usually find anywhere else. I also like Misfit Foods, where you buy a weekly grocery hall of cheaper produce that isn't sold just because it looks a little ugly. 3: I'm not a fan of cars to begin with, and my city is pretty bike and foot friendly, plus has decent transit options, so I've been sticking to that. I can only hope that we see more public transit access everywhere. 4: I keep hearing that putting in the first 100k is the hardest, and from the people I know, including my own parents, they didn't reach that until they were well into their 40s. And of those 100k, I'm sure the first 10k is hardest of the bunch. At this point, I'm listening less and less to the noise and keeping at it. I can't DCA much, but hey, something is better than nothing.

George, regarding the power of compounding…. One thing that may be confusing folks is you use the term compound interest when you really mean compound growth. Investing in the stock market provides returns based on the growth of the particular equity not interest. By using the term compound interest you’re unintentionally referring to savings accounts, money markets accounts, and other financial instruments that grow by paying interest. In those instances your reference to 10% average returns is inaccurate.

I’m here for this 😂🎉

It’s ridiculous how excited I got when George started playing 😂🎉❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤