Podcast Summary
Adulting and Finances: Managing finances is a significant challenge of adulthood, but taking control and building good habits can lead to financial progress and goals achievement.
Being an adult comes with many responsibilities, especially when it comes to managing money. Rachel and George shared their memories of things they thought would be fun about being an adult, but turned out to be less enjoyable, such as dealing with bills and having to make financial decisions. They also discussed their excitement about the upcoming Live Like No One Else cruise, where they'll be joining other Ramsey personalities for a debt-free celebration. Despite the challenges of adulthood, they emphasized the importance of taking control of your finances and building the right habits to make progress towards your goals. And, they shared a special cocktail recipe, the Redish Rita, that listeners can try on the cruise.
Adulthood costs: Adulthood brings unexpected costs and fees, but staying informed and making smart decisions, like using a debit card with no international transaction fees, can help minimize these costs.
Adulthood comes with unexpected costs and fees, making it feel like a constant scam at times. From property taxes to international transaction fees on debit cards, adults are often hit with hidden charges. The holiday season even brings its own surprise, as many parents discover that Santa Claus is not real and they've been paying for their children's gifts all along. Despite these challenges, it's essential to stay informed and make smart financial decisions to minimize these costs. One such decision is using a debit card with no international transaction fees, like the one offered by Charles Schwab. By staying aware and being resourceful, we can navigate the complexities of adulthood and find ways to save.
Childhood traditions vs Adult responsibilities: Childhood traditions bring joy and magic, while adulthood comes with responsibilities and costs, but the joys of adulthood make it all worthwhile
The traditions and experiences of childhood, such as believing in Santa Claus, can bring joy and magic to our lives, even as adults. However, adulthood also comes with responsibilities and costs, like maintaining a home and understanding the realities of taxes. Despite these challenges, the joys of adulthood, like homeownership and having children, make it all worthwhile. The speaker shares fond memories of family traditions and expresses the importance of maintaining a sense of wonder and belief in something bigger than oneself. The average cost of maintaining a home is around $6,663 per year, and not everyone receives a tax refund. Despite these financial realities, the speaker emphasizes the importance of cherishing the joys of adulthood and finding magic in everyday life.
Cell phone bills, identity theft: While some people struggle with high cell phone bills, it's important to also protect personal information from identity theft by using services like DeleteMe to remove your info from data broker sites.
While some people prefer owing money instead of receiving a tax refund, cell phone bills can feel like a form of "highway robbery." The average wireless bill in America is $141 a month, and some people, especially during older times, had to carefully manage their minutes to avoid hefty charges. However, identity theft can also feel like a modern-day robbery, and taking steps to protect personal information is essential. One way to do this is by using a service like DeleteMe, which helps remove your information from data broker sites selling your info online.
Adult responsibilities and hidden costs: Protect personal info, budget for car expenses including insurance, and prioritize regular doctor visits for financial stability and overall well-being
Being an adult comes with many responsibilities and hidden costs. Your personal information is out there for databrokers to use, and it's essential to protect it. Car ownership involves not only the cost of the vehicle but also insurance and gas. The national average for car insurance is $2,150 per year. Neglecting insurance or not having enough coverage can lead to significant financial consequences. Additionally, many people overlook the importance of regular doctor visits, which can lead to more significant health issues down the line. It's crucial to prioritize these expenses and budget accordingly to ensure financial stability and overall well-being.
Adulting tasks: Prioritize health, finances, and future security by setting up retirement accounts, creating a budget, paying taxes, making a will, and obtaining term life insurance.
As adults, it's important to prioritize our health and financial well-being. This includes setting up a 401k or 403b, creating a monthly budget, paying taxes, making a will, and obtaining term life insurance. These tasks may seem daunting, but outsourcing them to experts and setting aside time to complete them can lead to a great sense of productivity and relief. Additionally, practicing gratitude for the luxuries we have in life can help put things into perspective. Don't put off important adulting tasks any longer – take a day to focus on your health, finances, and future security.
Gratitude and Perspective: Expressing regret for what we don't have can shift our perspective to one of gratitude. Practicing gratitude and taking personal responsibility for our actions can lead to better financial decisions.
It's important to practice gratitude and perspective in our lives, even when faced with seemingly trivial decisions. Mike Rowe shared a story about his upbringing and how his family would express regret for things they didn't have, shifting his perspective to one of gratitude. Rachel Cruz, the host, also emphasized the importance of gratitude and shared her own experience of not following her own advice to invest in retirement one year. This lack of action led her to question her decisions and ultimately realize the value of taking her own advice. The episode also mentioned an upcoming event, Money and Marriage, where attendees can learn to build better communication and financial skills with their spouse. Overall, the discussion highlighted the importance of practicing gratitude, taking personal responsibility for our actions, and making intentional decisions in our lives.
Social media presence, cocktail ingredients: Mindful social media use and quality ingredients like fresh lime juice and agave nectar are essential for a great margarita and enjoyable experiences
Social media presence matters, and it's important to be mindful of what we post online. During a discussion about a signature cocktail called the "Reddish Rita," the group emphasized the importance of high-quality ingredients, specifically fresh lime juice and agave nectar, in creating a great margarita. The group also highlighted the value of trying new experiences, like joining the Ramsey team on their cruise and trying the signature cocktail there. The group encouraged listeners to make the Reddish Rita at home using the provided recipe or join them on the Ramsey Cruise to try it out. Overall, the discussion emphasized the importance of enjoying life's simple pleasures, like a well-made cocktail, and the value of sharing experiences with others.