The Ramsey Show (November 30, 2023)
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Breaking the Paycheck-to-Paycheck Cycle
Living paycheck-to-paycheck is a reality for many people, and it can be a stressful and overwhelming way to make ends meet. Feeling like you’re constantly struggling to stay afloat and not being able to save for the future can take a toll on your mental and emotional well-being. However, it is possible to break the paycheck-to-paycheck cycle and create a more stable financial situation for yourself.
One of the first steps to breaking the cycle is to create a budget and stick to it. This means tracking your expenses, prioritizing necessary spending, and cutting out unnecessary costs. By understanding where your money is going and being mindful of your spending, you can start to build a better foundation for financial stability.
Another important aspect of breaking the paycheck-to-paycheck cycle is to focus on increasing your income. This may involve seeking out a higher-paying job, taking on a side hustle, or investing in your education and skillset to make yourself more marketable. By finding ways to increase your income, you can start to build a safety net for yourself and reduce the stress of living paycheck-to-paycheck.
Saving is also crucial in breaking the paycheck-to-paycheck cycle. Even if it’s just a small amount from each paycheck, putting money into a savings account can provide a sense of security and help you work towards your financial goals. Emergency funds and long-term savings can provide a buffer against unexpected expenses and create a path towards financial independence.
Finally, seeking out resources and support can also be a valuable tool in breaking the paycheck-to-paycheck cycle. There are a variety of financial literacy programs, community organizations, and online resources available to help you learn how to manage your money and plan for the future. Don’t be afraid to reach out for help and guidance in order to make positive changes in your financial situation.
Breaking the paycheck-to-paycheck cycle is not easy, but with determination and a willingness to make changes, it is possible. By taking control of your finances, prioritizing saving, and seeking out support, you can build a more stable and secure financial future for yourself. Don’t be afraid to take the necessary steps to break the cycle and move towards a more financially secure future.
Amazing video, A friend of mine referred me to a financial adviser sometime ago and we got talking about investment and money. I started investing with $120k and in the first 2 months , my portfolio was reading $274,800. Crazy right!, I decided to reinvest my profit and gets more interesting. For over a year we have been working together making consistent profit just bought my second home 2 weeks ago and care for my family.
The best way way to build wealth is to start investing at a young age. A Teenager’s Guide on how to Invest Like Warren Buffett and Charlie Munger is a good book for teens.
Talk about being smart but then not being happy about it. Who the heck puts over $500k down on a $1.19 million dollar home and then decides we don't like it. I could tell Jade was really wanting to call them dumb or stupid. Thats what I call smart to dumb or 100-0 really quick. Another thing is what is with modern day millionaires being so stupid. They have everything they need to hire a financial advisor and a tax attorney to keep them from these situations. Then they don't do it. As my grandfather told my dad and I, just because you have money doesn't mean you are smart.
Jade, just got your book in the mail, I preordered it about 3 weeks ago. I had to email Ramsey support to see about the free Q&A with you and apparently it was on the 7th. Makes no sense why I wasn’t told anything about it sooner.
20$ per teacher could really add up.
Is this show real? First caller said they make 90k. But have 33k in debt and the show says it can be paid in a year. Wth.
Liability only on your car means no coverage for collision if you're in an accident. You still have Liability coverage on your policy. Drop full coverage for a car that iw worth that little to Liability only.
Didnt even ask the people that hated the house if they could afford the hit. I feel like thats important. And while they will take a loss, a house they might like might have also dropped a bit in value because of interest rates. Also, didnt bring up if they have even looked if they can get a similar house from what they wanted or if that was a unicorn.
I’m obsessed with Jade’s green look
Caleb is just beyond adorable!,, Congratulations parents! Well done!!!!
Speaking of insurance!! We went to Zander recently y’all and we’re saving $1600 a year (and even got an umbrella policy added!) and the coverage is a chunk better than what had before!!! Go Zander!! Shout out to Sam! He spent hours helping me and was SO patient, knowledgeable and kind!! Highly recommend him and the company.
Amazing video, A friend of mine referred me to a financial adviser sometime ago and we got talking about investment and money. I started investing with $120k and in the first 2 months , my portfolio was reading $274,800. Crazy right!, I decided to reinvest my profit and gets more interesting. For over a year we have been working together making consistent profit just bought my second home 2 weeks ago and care for my family..
I am a bit disappointed at the advice given to Brenda. I mean Ramsey Solutions have published a number of books, couldn't they have recommended a publisher they know and use. I feel like they didn't help her at all. They just discussed her issue with no actual solution.
Jade’s on point , spoiled brats 1.19 million dollar house , crying like their living in a third world country , dam some Americans mostly in libtard states and cities are spoiled rotten , need a reality check for REAL
The liability guy needs to not drop his insurances, but look at things that aren't necessity… like his phone bill. Go to bare bones on that phone. I didn't even go to bare bones on ours because my husband needs backup reliable internet for work just in case our house internet goes out (which it does), and I was able to save us about 50$/mo just dropping things down. Our 17 year old son also started paying his portion of the bill to teach him some responsibility and accountability with bills. He also started paying his portion of insurance on his car when he got his license.
The people demoing their HISTORIC farm house are making a huge mistake. Nothing they build will be as good as RESTORING that old home. Broken joists and rot can ALL be fixed. Bad additions can be rebuilt. Old homes were built with old growth woods. Heart pine was eradicated and can only be found in lakes and rivers for use to restore these old homes. My 1885 heart pine is so hard that it breaks screws. Everything has to be predrilled. It also has properties that keep bugs out of it. That's not to say that termites can't get into it, but it is much less likely than anything new. They need to find a company that specializes in restoration and knows old houses to fix it.
That crying nurse…….My wife and I were paycheck to paycheck for a long time and $40 till next Friday was great. Her and her husband have $300, THATS RICH. Sorry but I sense some fake BS TicTac on her.
Caleb invest in fund that tracks the S&P 500 that’s what Ramsey would have said. Have your dad open an account
She's in a bigger house than I am! Single mom, two kids. If I can do it anyone can.
Regarding Christmas gifts for school staff, our elementary school puts out a “staffs favorites” list linked at the end of the weekly newsletter. It includes each teachers favorite candy, favorite restaurant, favorite colors, and favorite store. It has been so helpful over the years.
Look, I've lived in poverty areas and prominent areas. I've never seen a school send home a gift list for teachers. I have to say that that would make me feel obligated and i can't imagine the shame some families would feel who really can't afford it at Christmas. I have never bought a gift my kids' teachers and i have a soon to be 18 year old and three 10 year olds. I can't imagine the costs associated when all my kids hit middle school with 8 different teachers. I think it's ok to say that you're only buying for your kids, or only immediate family, or set boundaries with doing parties where everyone buys 1 gift and has a limit to spend.
Talk people at work into doing a mystery gift exchange with a limit… and just make sure that amounts to enough gifts for everyone. Also, double check and make space for people who really just can't afford to spend anything extra opt out…or for another coworker to donate to allow them to be able to not be left out. Some people want to give more and that's a great opportunity.
I hate that they don't get more into some of these issues. It feels like Dave gets into them deeper sometimes. I think it's ok to continue with the same person on a call after a commercial if the situation calls for it.
LJ talks like he is contributing into a retirement fund, doesn’t he put money into the 457, or is it only the business that puts the money in?. Also, he mentioned he has savings. If he’s really going to follow the baby steps, he needs to stop contributing to the 457 and throw the savings at the debt.
I also tagged you guys on the New York Times news feed where I first saw it.
Rachel- based on many of the calls- your book should also be bought and read by adults. stop keeping up with the jones’. Everyone and not just kids should be glad with what they already have.
Caleb! Such a sweetheart
Caleb! Awesome! Just wowed and smiled all throughout the call!