Smart Money Happy Hour with Rachel Cruze and George Kamel

When Is Dipping into Your Savings Justified?

Apr 4, 2024

Discover America's saving attitudes as Rachel and George discuss justifications for dipping into savings. They explore soft savings and budget trends post-COVID, emphasizing emergency funds and long-term financial security. The hosts share personal spending habits, online shopping triggers, and the importance of consistent saving.

33:23

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Quick takeaways

Soft savings trend among Gen Z prioritizes lifestyle, impacting savings goals.

Dipping into savings for non-emergencies leads to financial stress and reliance on debt.

Deep dives

Soft Savings Trend Among Gen Z

A new trend called soft savings has emerged among Gen Z, where individuals prioritize their lifestyle over intentional savings, casually putting money aside without a concrete plan, which doesn't significantly impact savings goals.

Introduction

2min

Redefining Savings with 'Soft Savings'

4min

Exploring Budgeting and Personal Savings Trends Post-COVID

2min

Living in the Now: Prioritizing Enjoyment Over Saving

4min

Importance of Building an Emergency Fund for Financial Security

2min

Navigating Emergency Savings and Financial Priorities

12min

The Importance of Consistent Saving for Long-Term Financial Security

2min

Casual TV Show Binge-watching Banter and Mocktail Taste Test

2min

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Stash, stash, spend! In this episode, Rachel and George are breaking down America’s current attitude about saving money. Plus, they’ll decide which popular explanations for dipping into savings are justified—and their answers might surprise you.

Next Steps

· 🔎 Get help from a financial advisor to avoid those sneaky loopholes that will leave you broke.

· ➡️ Don't miss out on the tax deductions you qualify for—get help from a pro.

· 📱Submit a Guilty as Charged question for Rachel and George! Send a DM to @rachelcruze or @georgekamel on Instagram! Be sure to type “GUILTY?” at the top of your message so we don’t miss it.

Today’s Happy Hour Special 🍸 Blackberry Paloma Mocktail

Recipe: Moody Mixologist

Ingredients:

· 4 fresh blackberries

· 5 dashes smoked chili bitters

· 1/2 ounce lime juice

· 6 ounces grapefruit soda

· 1 ounce butterfly pea tea (room temperature)

· Ice

Instructions: Prepare butterfly pea tea according to package instructions and let cool. Muddle three blackberries in the bottom of a glass. Add bitters and lime juice. Muddle again. Top with ice and grapefruit soda. Add butterfly pea tea and garnish with the remaining blackberry.

Listen to More From Ramsey Network

🎙️ The Ramsey Show

🧠 The Dr. John Delony Show

💡 The Rachel Cruze Show

💸 The Ramsey Show Highlights

💰 George Kamel

💼 The Ken Coleman Show

📈 EntreLeadership

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