Smart Money Happy Hour with Rachel Cruze and George Kamel

“Harmless” Purchases That Drain Your Bank Account

Mar 28, 2024

Discover the hidden costs of 'harmless' purchases draining your bank account while balancing treats and financial leaks. Hear about personal indulgences like foot massages, book shopping, fancy soap, and gaming expenses. Learn how to shift from surviving to thriving financially and enjoy sweet guilty pleasures like gluten-free snacks and rich dessert drinks.

39:14

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Episode notes

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Quick takeaways

Small expenses can add up to significant money leaks impacting financial well-being.

Finding balance between enjoying treats and financial goals is crucial for financial wellness.

Budgeting and self-awareness are key in identifying and managing money leaks effectively.

Deep dives

Be Mindful of Little Treats and Money Leaks

The episode discusses the concept of little treats and money leaks, highlighting how small, seemingly harmless expenses can accumulate and impact financial well-being. Money leaks are described as small expenses that gradually drain a budget, such as unnoticed charges, unused gym memberships, and multiple streaming service subscriptions.

Introduction

2min

Balancing 'Little Treats' and Financial Leaks

5min

Exploring Personal Treats: Reflexology and Foot Massages

2min

Tales of Trivial Spending Habits

17min

Shifting from Surviving to Thriving and Managing Money Wisely

4min

Sweet Treats and Guilty Confessions

6min

💵 Create a free budget! Sign up for EveryDollar today.

Life is hard, but it’s nothing a “little treat” can’t fix . . . right? Get Rachel and George’s take on the true cost of those seemingly innocent serotonin splurges. Plus, we’re keeping our hosts honest about the treats they secretly love to indulge in!

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 🍸 Mudslide

Ingredients:

· 2 ounces vodka

· 1 ounce Bailey’s Irish Cream

· 1 ounce Kahlúa

· 1 1/2 ounces heavy cream

· Chocolate syrup

Instructions: In a cocktail shaker filled with ice, combine the vodka, Bailey’s, Kahlúa and heavy cream. Shake until well chilled. Decorate the inside of your favorite cocktail glass with a drizzle of chocolate syrup. Strain the shaker into the decorated glass and enjoy!

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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