Best tips I've received: 1. Stay off Social Media - helps stop the comparison game 2. Control what you can control 3. Be Debt Free and Stay Debt Free 4. Life isn't fair, accept it. 5. Don't judge others, we have no idea what journey they're going through. Have a great day! Cheers!

My husband always says that there is wealth and the appearance of wealth. No need to compare.

I look up to my neighbors. They pick one major project to do around their house and tackle it. Just one a year. Last year they upgraded the roof from shingles to metal. This year, they replaced the windows. When I want to go ham around my house and do multiple. I think of my neighbors. All within budget. Steady goes the ship!

I became debt-free on September 1st. I have a friend who chose to do nothing over the last three years when she could have paid off her student loan interest free, gotten a part-time job saved money. And now she is flat broke. But those of us who slaved and toiled over the last several years are now reaping the rewards. And I started putting 35% of take-home into retirement. ❤❤❤ I totally understand... you look at people and you think everyone's spending money but you. That's because we're saving ❤️❤️

I have a copy of the book "The Tortoise and the Hare". Sometimes I find myself reading it again just to remind myself that "slow and steady wins the race".

Yeah, I’m still driving my 2008, and my neighbors are buying new cars every two years. Lol😂 until I have the money I’m not buying a new car.

Jordan Peterson says don't compare yourself to any one. Compare yourself to who you were yesterday.

So true! My friend is in Europe right now. I'm looking at her lifestyle while I'm in BS2, thinking I'll never be out of debt. THEN, I mentioned to another friend and found out she did a loan on her 401k for this. Yikes! Now I'm not feeling so bad.

We've been struggling to get by on 1 teacher's income, and that's not really cutting it anymore in our current economy. It's hard to go so long making so many cuts while so many others around us seem to have so much more income (especially in the last couple of years with no raises) , but we just paid off our mortgage so that's exciting. Thank you for the important message.

I’m currently at BS3. I’ll be entering BS 4 this December. I been doing this for a while now and Im sticking with it. I never been great at anything in life and I dont have a lot going on for me so I told myself, at the very least I should be able to stick with these baby steps no matter what. My peers and coworkers are very smart people and they get promoted really fast and are very talented. The only thing I can do is to be smart about my money and diligently follow the baby steps so I can win in life in my own way.

Conversation yesterday: Coworker: 'Where you parked?' Me: 'Right here.' *Taps 2008 Elantra* Coworker: 'This? You need to get yourself a new truck!' Me: 'That would cost more than I have. Besides, this might be a *blank* box... but at least it's mine. Don't have car payments... or... credit cards... or student loans. My wife actually has the nice car.' Coworker: raises eyebrow... 'What's she drive?' Me: '16 Corolla' Coworker: 'PAID FOR!?' Me: 'Fully.' Coworker: *Shakes Head* 'How?' Me: 'Talk later.'

Very wise words, Rachel. I am 72 years old. So grateful that my mother provided a great example of fiscal responsibility at a young age. Every point you made resonates so strongly. My mother preached those same words and walked the walk. Thanks, Rachel!

i would take it further. dont even look at other peoples lives. it isnt your life. its a waste of energy. focus on your own life and stop looking at other people.

I was telling my husband the same thing about everyone going to Europe this summer and we believe they are putting themselves in debt. No thanks. If we ever go it will be when we are in baby step 7 and have cash

Thisn is why I stay off of social media.

We go on a big trip about every 2 years and save for it. We were in Europe for 5 weeks the summer before last, but my in-laws live there. If they didn’t we wouldn’t have stayed as long. It cost us about 11k for 4 of us, and we did a lot! but again we saved for it. We’re planning to go this coming summer for 10 days to a different country. We’re on Baby steps 5&6 my kids have their college paid through scholarships and working. We drive old paid off cars and cook 99% of our meals. We also don’t post all our business.

I spoke with the bank a told them to take the 35% of my paycheck to put it in another account, a saving account. So automatically they take almost $900 usd per month and that money I can’t see it that means I can’t spent it. My brain now is working with a low amount of money but in the other hand I’m saving a lot.

Thanks for the reminder about 'Gratitude'. I find taking stock of what I have already allows me to take a step back

You forgot to include, giving 10% of your income while drowning in debt.

Feels like 2006 and the years that led up to it. I was driving a used Oldsmobile alero when the company I worked for closed. My coworkers were driving a new Mach 1 and another a new GTO. Everybody had a nice car but me. I didn't understand because they also had nice clothes and taking nice vacations. I remember one day my coworker asked me if I thought I should get new jeans. Wow! I just looked at her. I was working 6 and 7 days a week/10 and 12 hours a day. I was also managing my rental property. I owed $12k on my property and when I went to the bank to refi to buy another property, I was told I couldn't afford another property. I had worked for 10 hours before applying for that loan. I was exhausted and went home feeling defeated. Then the housing crash hit and all those rich people werent rich anymore. I'm wiser today than I was back then. I'm saving cash. I'm using coupons and having staycations rather than expensive vacations. I'll go when i can get a good deal on travel. I'm driving a 2010 Altima. I'll buy another car when i can get a deal. Ill alao buy another home like I did during the housing crash. Maybe multiple homes like i did during the crash.

My mom bought her first house in 1980 and her interest rate was 19%. Every generation has sucky things to deal with and they’re all different. It’s why I don’t like to compare my challenges today to the challenges my older family had to deal with. It sucks for everyone. That’s the world.

I can immediately tell which of my neighbors are well off and which ones are in debt just by the way they act, what they buy, how they dress and so on. I am positive I would be above 90% correct.

Been raised to be content with what you have and live below your means and pay yourself first and budget the rest.

One of my favorite vids from you and the team Rachel. Sincere, metered, realistic foundational advice and relatable to most.

I love this! Everyone is fighting a battle we don’t see. ❤

Love Love these reminders! You’ve helped me to regroup my thoughts! Being content! Working on getting out of debt is 😖😣 can’t wait to reach my goal! Great video ❣️

My parents married in 1981, & they both worked, but still rented an apartment for a few years while saving up to buy our first home.

Stay away from social media! Deny it all you want, but it slowly creep into your head and will get you to compare, feel bad or missing out on something. 😊

Ouch! I just finished reading all the comments, and can I say, ouch! Stopping and looking inside to know the Y, and to keep your eyes off the Joneses, that will be the best way to succeed. Thank you for your message, Rachel. May be super helpful for people to begin to eliminate people from their Facebook. That’s what I have done to keep to keep my sanity!❤

Such a heartfelt smile in the thumb from someone who will never be broke.

There’s even more at play than income. You never know someone else’s situation. We we’re probably the lowest income family in our bougie neighborhood last year. We we’re single income. We have since changed that, but we sold property in CA and had a massive pile to put down on a home in the Midwest. Here we were driving around a clunker, shopping at thrift stores and garage sales, and eating struggle meals, but we have this really nice home. Maybe your friend got an inheritance or won a settlement. Lots of things can affect one’s standard of living.

Great video. I’ve always been thrifty. Many of my neighbors remodeled their houses in the last several years, from top to bottom. Everybody likes the Farmhouse style, they’ve painted their outside brick white, and for the inside, they remodeled it with all white kitchens or maybe navy blue shaker cabinets. And all of their houses inside are painted gray…they also have gray floors. While it’s pretty, it lacks some originality and everything looks the same as everyone else’s house. One of my friends remodeled her kitchen and bathroom to the tune of 100 k. My house would be considered ‘dated,’ by some. But I love all the things I’ve kept over the years and my wood non white kitchen cabinets. My house is neat and clean, and it’s paid for. I can pay my bills and not worry so much, so that’s a comfort. My friend who remodeled her kitchen may have to sell her house because she took out a second mortgage to pay for it, and she says that lately, she has no money.

This is a great message that we all need to hear.

Love this video… Great reminders, so much rides on our Attitudes and Gratitude. I have a habit of of forgetting that often

thanks Rachel! Another great video, always enjoy your encouragement to keep going on this journey to create a life we love.

Great video Rachel ! Thanks.

Yes... Been thinking the same thing when I'm on Social Media... Like where the heck to these people get all the money to go traveling all over the world all the time... and I just sit here going on cheap camping vacation... but I'm also glad to be able to declare I'M DEBT FREE...

Thank you, we appreciate your sweet nature, and education!!!

I've never had a Starbucks product. My wife and I have never been on an airplane together. I've flown three times for work. Our home and vehicles are paid off.

Doing the baby steps in order is probably more important than just doing them. The order teaches you discipline and also moves you along at a pace you can handle. I however think there needs to be baby steps 8-10 dealing with legacy. Once you get to baby step 7, you will need to be able to 8) keep wealth, 9) pass it along, and hopefully 10) impart the wisdom in those you choose to take on the responsibility of managing it after you are gone.

tips that save lives. Blessings to Rachel and her family.

Thank you for this video!!

Thanks Rachel 😊

I'm so happy I made productive decisions about my finances that changed my life forever,hoping to retire next year... Investment should always be on any creative man's heart for success in life.

New subscriber, your 100 percent on point .

I’m so glad you’re talking about this. I’ve been struggling with this and wondering how they’re living and I’m existing lol.

Needed to hear this! 👏🏻❤️

I left social media in 2021. I don’t miss it at all. I am on baby step 2, and plan to move on to baby step 3 in less than a year

Thanks. I hate traveling but was wondering what I am missing when I see everyone going on fancy vacations.

So wise!

One of the best ground to earth common sense video

Social media felt like it was a summer long party in Greece and Italy this year. 😂

The only way to beat the game is to quit it. Quitting social media is one of my best budget recommendations. You'll be happier and keep more of your money. Just do it already.

Much love to Rachel ❤🙏

Thanks for the video. I work 70 hours a week have no debts and own my house free and clear in a expensive city (Seattle). I agreed with you when I get home I see all these nice cars going out to these fancy places. It does get depressing seeing all this yet I am working as I was a million in debt (I also have well over six figures in cash not including retirement). It feels depressing knowing I can't afford their lifestyles. Thanks Rachel for the video

If you’ve ever seen homeless, you’ll save

Well I listen to your dad, live like no one else now to live like no one else later.

Excellent presentation, Rachel. We have close friends who have taken two lavish vacations this year, live on credit, and owe to three tax agencies. Go figure.(?)

My sisters been going on a vacation/trip every other weekend with her family of four and I’m so jealous and wondering how..

I hear you I've been feeling a little shaky myself but I went in to lockdown mode 3 months ago, in lockdown mode "If I can't eat it, I don't need it" been pushing everything to my trading account building up dry powder waiting on some kind of crash before the big red tag sale!

Yea, I don,t use social media anymore, it's too easy to get jealous.

got out of the market when joe got in widower with MORE than enuf to get me to the end 'you don't need as much as u think u need.''

I had a great summer. No trips but i saved up 12k 😊

I met several folks on a trip to the Caymans & had a blast... One of the boisterous folks I met during that trip chased me down for a $60 reimbursement of a bar tab...I get the principle, but a little too much on the frugal day after/hangover-side if you know what I mean... This person called me the other day to check on me & mentioned that they spend it as fast as they make it....& these folks arent spring chickens.... Live your life according to your values & let ppl be ppl.....

love it

I'm broke because of drought and a dying industry and inflation

Our neighbor had mentioned to us one time that it was difficult for them to keep up with us like the Joneses, and the sad part is i believe they were serious, were not real showy people we live below our means for the most part, don't go on expensive vacations, not in an expensive neighborhood (we could be if we desired) although we have done mostly necessary upgrades to the house, and have a couple new vehicles that are paid for, at the end of the day we're not out to impress anyone we have worked hard for what we have!

There will ALWAYS be those who seem to have more, and who are able to do more. Bottom line; you can't measure your success by the success of others. Different people have different "starting points." and circumstances. You can't and shouldn't measure your success in comparison to someone else's. Look at where you STARTED, and where you are NOW. And keep moving forward towards your goals. We ALL have different paths, definitions, and timelines when it comes to "success.".

Yep, discovering the tricks, can be fun. Like how did I manage to pay a fixed amount of only $4.60 per day for my nicely carpeted one bedroom apartment, for EIGHTEEN straight years. Plus I figured out how to purchase groceries for half the normal price, even though I am shopping at one of Canada's biggest and most popular stores. Fortunately, the methods used here, if suddenly known of by the masses, would collapse altogether. I say that this is fortunate, because it at least keeping it quietly going provides savings for those who really need to cut costs down, and thus bust the butts to find out how to do it. Plus I do other things like keep my 2004 stainless steel microwave oven going, via a few repairs over the years. All repair parts came from other folks ovens that they had thrown out for disposal, and thus these parts cost me nothing. Or one of my computers dies and so I repair it by repairing the PSU for about $9.95 worth of electrolytic capacitors. Or the SAMSUNG S23B300 computer monitor brick power supply dies, but I repaired that for a zero cost. Or the repairing of my 2001 Palm m505 PDA, which I still use on almost a daily basis. Oh then there is my 2010 SAMSUNG TV that I repaired by replacing just 1 electrolytic capacitor for about $1.58, and that TV is still my one and only TV to this day. Plus there is the motor of 23 year old DANBY air conditioner, which I repaired when it broke down by simply replacing the oil in the oil felt pads that had dried up completely. I repainted it as well, and so today it looks as good as new and is working perfectly. And of course, for over 10 years I had not thrown any food out at all. The pattern was only broken when I did not consume some peanut butter fast enough, and thus had to throw the jar out.

People in this comment section is always complaining about struggling if most would make it habit to save something from their paycheck at all times instead of going out to eat at restaurants almost every single day buying Starbucks which is now $7 a cup where I live at I will not waste money like that I ask someone how much who was standing in a long line waiting most of you are shopping for designer clothes and shoes I always save something automatically each paycheck for emergencies being broke is a mindset most need to work on & yes my husband & I live in Washington state cost of living here is higher than average but we manage our money

You are never gonna be debt free as your country owns money to someone...In the US, this amount is particularly high, so you have to contribute via taxation.

Rachel is so adorable. I never hear what she says😂

I know broke people who go on vacations to make people envious on social media😂. Stay off social media and stop comparing yourself to others.

Live it

Yeah like everyone around town seems to be driving a Tesla and cannot possibly see why or how, in my area, could so many truly be able to afford them.

NOT ME !!!! LOL !!!! I still drive a 1992 Geo Metro worth about $500 !!!! LOL !!!! But I own 6 homes that are 100% paid off debt free !!!! LOL !!!!

The down payment on a house in Florida is currently higher than my parents spent on their house by about 5k. Their house was bought in 1991 for 98k, I Did the math and saving $ 5,000 a month we could afford a down payment in about 20 months. and that's for a 30-year mortgage the median household income is about 75,000 if they have a savings rate of 20% it would take them approximately 7 years to have a down payment. by then I'm sure the market will crash and they will be able to finally own a home. by that time they will be between 34 and 49 and will only have to work till between 49 and 64 on a 15-year mortgage or 64 - 79 on a 30 and that mortgage would still be 61% of their monthly budget

My parents couldn't keep up with anyone so I gave up in my youth. Now I can buy a lot but know better not to. Sorry Porsche. Sorry Ibanez. Sorry Coronado.

The one tip I NEVER see on this type of advice videos: maybe we're consuming TOO MUCH content.

In the year 1900, the average American home featured just 1,000 square feet of usable floor space. The median size of a house sold has gone up in size over the past two decades, from 2,077 square feet in 2000 to 2,333 square feet in 2020. Running water wasn't even a normal thing people had in 1900. Washing machines weren't mainstream till the 1950s. That is right around when electricity went mainstream as well. Building codes and laws around these things have only multipled, and those laws of course create more costs. Higher safety standors = higher costs. Today, our homes are larger and more complex. Homes are more expensive because literally the homes we build are more expensive. We aren't living in 700 square foot shacks with no water and electricity anymore. Drives me nuts when people compare themselves to previous generations cost wise when those previous generations didn't have what we have.

at 65 my friends and neighbors look at me when i say i don't do SM, i wear it as a badge of honor.

We started investing finally in 2022 and we are just losing money 😭

Vacations are on the new go now and pay later plans and new Era online layaway plans. Not actual credit limits, but monthly payment plans. Pay off, then request again for approval. what you are seeing for travel. travel access for many people with stable jobs.

Imagine one adult has to go online, and speak to other adults about how to feel about watching adults online.

It's weird, because I am not a millionnaire yet. Yet. But I am on step seven of the babysteps. So I am probably doing something right. LOL That's not something that I did overnight. It's something I did start doing back at the end of 2014. People are really something. I work in the tourism industry. Well in the parking lot there is not so much pretty cars. But. But people look like they have it all. But spending did stop. Some people just select the lowest enough accommodation. But they don't spend more. Time did change. What's the point of having an Escalade if you go to the food pantries? I didn't get this one? Tim Hortons is full everyday. The line is so full. Dawm. Everything is under control. My eye! I don't know exactly what is happening. Who knows. It looks like babies not wanting to change their behaviors.

With the holidays approaching, it is important to set reasonable expectations that limit the materialistic values and marketed purchasing culture. It can seem that everywhere you turn people are wanting your dollars. Simple plans that focus on people rather than things, and less stress to "compete" with others will make the holidays more enjoyable overall. Not every room needs to be decorated to the max and don't go overboard buying gifts. Make the holidays more about loving the people in your life, rather than things.

This right here is why the Money guy show is the best. They spend time trying to help rather than passing judgement, which is what the Ramsey family does. Sad really the satisfaction Rachel gets judging others! 😑

I can’t believe all of the prices on facial care. Then all of these vloggers use like 3 or 4 at a time. I have a hard time buying one

"When I'm scrolling through social media..." Like the mechanic says: "Well THERE'S your problem!" The people who created social media don't allow their kids to use it. That fact should speak for itself.

Can anyone tell me…?? me and my husband both have Roths, no 401ks… should 15% of our income go in to each one? Like 30% total? Also, I stay at home with the baby right now so it’s just his income… thanks y’all!!

The problem is when you have a lower income and have health insurance costs you can go bankrupt quick.

I only our Federal Govt knew how to say NO , we cant do this now, or actually set a budget!

I shamefully admit that I have not been the best with finances. So I always felt I needed to increase my income. I had to work very hard to do so, and I think, shamefully, I finally reached the point of freedom. I went from 42k to 64k, then to 81k, then to 96k. And was STILL living paycheck to paycheck. Recently, I received a massive opportunity and I’m now at 166k. Oh man. The breathing room! I can now finally invest, plan for retirement, and enjoy life a bit more. I’m 31, and hope I’m not too late in my journey. First stop, paying off all debt!

They are just in debt on plastic

We are all spending at least $400 more per month for everything.

My parents bought their first house in the 80s at 14% interest for $120,000. Maybe grand and great grandparents bought a house for 10k 😂

The majority of people will stay broke for two reasons. One, they don't make enough money and never will. Some people simply don't have the skills or ability to get a high paying job. Also, people have families. When you have children, stability takes precedent over advancement in most situations because advancement involves some level or risk, or taking more of your time that you could (should?) be spending with your family. Also, some areas of the country just aren't that safe to live in. If you need to be at a certain place for work, and the choices are either "over spending" to be in a good area, or spending less but being in a bad one, I know what choice most people will make. The second reason, and the one I'd guess this video is aimed at, is people who are trying to keep up with the Jones'. Those people actually do make enough money, but they tend to spend more than they need to. They get the million dollar house instead of the one that's till decent at 700k. They get the 120k Benz instead of the 60k Audi, or the 35k Camry. Those people could lower their standard of living to a still acceptable amount and be fine.

Either go bankrupt or wait out the statue of limitations. Whats the big deal?

To my understanding this just proves how much we need an edge as an investor because playing the market like everyone else just isn’t good enough. I’ve been quite unsure about investing in this current market and at the same time I feel it’s the best time to get started on the market, what are your thoughts?!

I guess I am one of the lucky ones I can still save money every month