6 Money Moves to Up Your Financial Game (With
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- Опубліковано 28 бер 2023
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Now George said he got a 15 yr loan. I did something different. I got a 30 yr loan, but paid on it as if it were a 15 yr loan. The extra was put towards principal only. The reason…I felt like if something financially bad happened to us, like a layoff, I could drop the amount I was paying to the 30 yr payment amount. There would be less of a chance I wouldn’t be able to make our mortgage payment. I feel it’s less risky this way and still got the house paid off quickly.
Absolutely. Totally agree. In London salaries are out of all proportion to salaries so the 25%/ 15y rule just isn’t possible.
Yep. This is what I intend to do. If you can afford the 15 yr payment then yes go for it but take out a 30 yr mortgage so your not stuck with the high payment
I have done the exact same thing, with the exact same thought process! It has worked as a safety net for myself already, as I went through a divorce and became the only income paying all the bills and mortgage. I reduced my extra principle payment as necessary, but I didn't not have to fear my mortgage bill because it is a 30 year payment amount.
Very wise move
That's what we did.
Got a 30yr mortgage. Paid it off in 19yrs.
We cut Netflix yesterday; saving $20 per month! I’ve never been excited so much about $20!
Rachel - if Winston wants to cut the miscellaneous, he can just cut his, leave yours alone, and give that cut portion to you! LOL
I dumped Allstate after 22 years and saved $408 a year by going through an independent agent. I cut cable entirely, raised my income, and increased my giving. God is good.
I just saved$500 by shopping on my home owners and auto insurance!!! Amen!!!
Love George, but Rachel where'd you get the top?
We thought that we were already keeping our budget locked in, but we have recently revisited it to see what kind of savings we could find. Over the past few months, we changed car insurance providers, renters insurance, phone plans, and cut a music subscription entirely. In total, we have saved $1515 per year just with these little changes!
Thats awesome👍
Tip: avoid scams, be a skeptic
Yep, i went back to work at 67 and hubs has a pension, we both collect social security and we amassed 95k this year and we owe 4k so we adjusted out w-4. Because we made too much we pay on social security, which you normally do not pay tax on. Just an adjustment and we are blessed this year, other years have previously been lean. Its ok, just surprises at tax time need to move us in the right direction ❤
11 years early and $65000 savings! That is why I love George. I'm on track to pay my house off by the end of this year :-)
I just changed my audible from one book a month to everyother month yeah!🎉
📚 👍🏽 1 📖 a week/52 a year good goal ⭐
225k, 30-year mortage, on 5.375% interest rate... amortization schedule showed 228k would have been paid in interest alone over the life of the loan. Got it down to pay off in 14 years instead, already saved 163k in interest.
Thank you guys ❤😊
Yay, George youtube channel! Subscribing!!
These two are the best duo!
Fantastic interview!
Congrats on your new channel George!!
Yall are my favorite duo!!
Always throwing State Farm under the bus. Geico, Allstate, and Progressive are higher 98% of the time. It’s always good to look around and compare, but keep in mind that a lower rate usually means you’re compromising coverage, service, and claims.
Yeeesss!!! Misc is my security also!!! Husband always wants to cut that category!!!! Glad I’m not alone!
WOW that mortgage tip just Blew my Mind!!! WOW. Thanks guys!!!
Health = Wealth
These two are great together! Entertaining & I learn at the same time. Thanks you guys! X
Luv George and Rachel are the best.❤
"I don't dance, I make money moves" - Cardi B
Yes!!! George Kamel has is own UA-cam channel!! I’ll be watching!!
Coming straight to your eyeballs! (As he says)
🎉 Congratulations George 🎊
I'm subscribed! What day is it going to start? 🤔
Love these tips, and can't wait for the new channel!
I love your hair, Rachel! P.S. George, yours is nice, too!
I really wish everydollar had a budget every two weeks option.
As a single parent, with a regular adequate income with PTO is 5 months expenses enough?
We get 3 checks a month. 1st is hubby's SS check, 2nd my SS check and 3rd my IRA check. I make a category for hubby's check and under it list all the bills that come out and amounts. Then another category for my check and list of bills that come out. Then I do IRA category and what comes out of it. Then when I click on the summary, I make sure the Planned amount matches what is in each category. So, let's say 1st check is $600 so I list bills or whatever that needs to be paid up to $600. 2nd check is $1000. list all bills or whatever I can pay out of that up to $1000. 3rd check $600 list all bills and whatever out of it. Hope this helps. I am not good at explaining things. In my case the income is the same every month. As a single parent you may want to do 6 months or more for emergency fund. Since yours is the only income.
You explained well:) This is pretty much how I budget too, but this is not congruent with most budgeting apps, I found one the works pretty well called iSaveMoney that works pretty well. Ty for feed back!
I really wish every dollar app had a biweekly paycheck option! this is how I budget, so I just do pencil & paper-:)
Funny you say this, same situation on my end. Every Dollar has a feedback section and I’ve submitted this request twice so far because I think that it would really help. Happy to see someone else bringing up the idea!
Thanks for the tips!
Yeah! A show with George! Looking forward to it! Congratulations!
Where is the link to George's new show?
Like the idea of re-evaluating memberships, etc. that you don't use or often enough to be worthwhile, but please be respectful of the contract you signed and to the customer service people when asking for a refund. Not everyone can give refunds and some places have rules regarding when/how you can cancel, or you may have a cancellation fee if you cancel early.
Owing even $1 may sound good but paying it is inconvenient, can be overly expensive and exposes you to ID theft. Checks require your social security number written front and center and electric payments are only through third parties who charge a processing fee. Aim to get a refund of a hundred or less and track deductions quarterly against the IRS website.
10:18 12:03 Full House!
Love the Rachel and George duo! So dynamic and so fun! Lots of good information as always ❤
I agree. Rachel and George have great chemistry. I also think Dave and Jade are great together.
7:36 "reading is better than watching stuff" says the guy in a UA-cam video
😢it’s not always good to change insurance. If you happen to have a claim you are more likely to be dropped without a long term relationship
Man, I love Rachel.. I guess you're okay George.. lol
last week took my old clucker Fiat clown car to the dealer to get 240K maintenance. Had to shell out $1,700 . Really, it was no problem. Just went to my freezer and took out quite literally, some cold hard cash to pay for it. Now I have to pay myself back. Looking forward in making those payments.
It’s past April 3rd. Where’s your first episode? 😁
I dumped a car and I am saving $7000-$800 a month.
When I claim 0 I get a refund when I claim 1 I owe a little. So I should just bite the bullet and claim 1?
Congratulations, George! Love your content. You bring it every time. From one old person to another…. 😅 1987 represent 🙌😂
My game is never good enough.
🙈
Where’s SuperDave? 🤔
Came to the comments hoping that Winston has left one. Just calling out George that he watched it.
Is it worth buying a house if you're in your 40's. I'm trying to make sense of it. I'm not going to buy a house anytime soon, what it my mortgage out lives me. 30 years is a long time.
I think you are misleading people when it comes to “independent” insurance by not mentioning that really these people often sell products and companies which give them the biggest provision on sale.
You should mention the fact and not hide it only because it wouldnt fit to your paid promotion campaign.
Great ideas. Congrats George!
😊
2:30
Yeah, right. I haven't had a refund in forever. My wife and I owe thousands each year, and neither of us are claiming any dependents/withdrawals. I guess I need to look into making quarterly payments to the fed or something.
You need a new tax preparer/accountant.
@@tracyd2598 Yeah, TurboTax isn't doing it for us. I even use itemized deductions since we donate so much to church/charity. I honestly think that it has something to do with my wife's deductions but have just been too lazy to follow up on it.
Did this start with the new tax cuts? We are in the same boat.
@@amispellman4699 I can't really say since I haven't looked into it thoroughly. Up until recently, I just chalked it up as typical taxation.
Has anyone ever told you that you look just like autumn Calabrese 😂❤
I am 60 + so I am the old one on UA-cam 😬🥰 Brilliant show!
You say pay an extra mortgage payment quarterly? Meaning every 4 months? That is very hard to pay that much more. Is there another way to bring down my mortgage?
Quarterly is every 3 months
Any extra will help. $50/ month adds up.
Buy a cheaper house?
If you have PMI (private mortgage insurance) get rid of that as soon as you're able. It will lower your payment a bit.
Just make what extra payments you can. The whole point is that any extra money will help bring it down faster. May also be easier to add it to the regular payment. My mortgage company offers an option to add additional money towards interest or principal when you make your monthly payment.
Hi. I have a question. I went thru a divorce several years ago. Gave my paid off home away to the ex, to eliminate my alimony payments, sold everything I could, except my child (lol), and paid off all debt over a period of year and a half. I joined employer match put back 30 percent a year in my retirement but I still owe on my vehicle 16,000. I now struggle with money from the aspect of taking a trip or buying something because I still owe on my truck and I feel guilty and get depressed a little as I don’t feel I’m growing my money fast enough. How do I stop feeling guilty as I’ve made huge progress and have a side hustle as well? I seem to be all over the place mentally with the guilt. ?????
The Ramsey's recommend paying off debt first, before investing, even employer-matched retirement. Once all debt is paid off (the car), you'll feel so much lighter and happier, emotionally. At least, I did anyway.
Bobby I think you are doing amazing, your choice to take responsibility for your child welfare is very commendable. As far as mental health I would advise what I had to do for achieving in elite sport, look at where you are as a whole. Is there any area that needs attention, then look at what is realistic and reasonable to be able to achieve given where you are, sometimes the best way to work this out is to look at other people in a similar situation. Say you find it’s normal to pay $5500 per year off set that as your budget and when you have paid it allow yourself to spend in other areas.
Here is some advice I got from my therapist that really helps me: everyone has a different journey in life. Do not compare yourself f to others. Only compare yourself to the past you.
You're doing great man and you should be proud of all the things you have done well so far 😊
So the extra payment should be the same if applied to the principal of a car loan?
Most of the time you still have to pay all the interest, but you have to ask to make sure.
As long as there's no prepayment penalty. With my mortgage, I just paid extra every month, instead of making another payment. Less hassle with the bank.
The Brain Filler-😂
😂😂😂😂😂 laughed so much!! George im watching!
A $220K house? Where is this, 1950?
My
I would like to challenge George to start cutting his own grass. I think he would be surprised at how much money he would save.
Lawn care? I thought you had a townhouse George
I dont go to the gym 😂
6:10 - "I breakED it" - Rachel.
English language: "AM I A JOKE TO YOU?!?!"
LOL George goes to the gym just to take one glance at all the bros going hard and then just hops in the sauna and goes home.
asking for your gym dues refund because you didn;t use it? that sounds like something my tight sister would do
📌 *Nice video, love how you take your time to educate your viewers. You gave me the mindset to invest my savings now I have made profits over $120k Right now and still making more , I am enjoying a good life with what I made investing. Indeed ‚building a Portfolio income (investing) through a licensed investment adviser is one out of many ways to earn passive income.*
That's awesome. I dealt with crypto last year on Robinhood, tried some index but didn't take it out so I lost it by the end. Any consistent strategies?
She is also my personal trader, crypto analyst and account manager. With an initial invested capital of $8000,it yielded returns of over $36000 within two weeks of trading. I was really impressed by the profit Actualized
State Farm sucks
😀
The fact the Rachel watches the Kardashians...I have lost some respect for her.