Podcast Summary: “If You Say ‘YES’ To These Things, You're Probably Broke”
George Kamel | Ramsey Network | October 24, 2025

Episode Overview

In this lively, candid, and humor-laden solo episode, personal finance expert George Kamel delves into the reasons why so many Americans feel “broke”—and why saying “yes” to certain everyday temptations and social pressures is a recipe for perpetual financial struggle, regardless of income. Inspired by an article from YourTango.com titled “People Who Always Say Yes to These 11 Things Stay Broke No Matter How Much Money They Make,” George breaks down the list, adds his own hard-earned perspective, and offers practical advice on how to say “no”—with healthy doses of pop culture snark and quick-witted takes.

Key Discussion Points & Insights

1. The Broke Epidemic & The Power of ‘No’ [00:05]

• Nearly half of Americans consider themselves broke—across all income brackets.
• “According to this article, it might be their inability to say no.” (George, 00:10)
• Setting boundaries is key to building financial security.

2. Top 11 Temptations That Keep People Broke

George reviews and expands on each of the 11 items, offering both critique and practical solutions.

1. Saying Yes to Every Social Invitation [01:00]

• Social spending is a major spending leak.
• "If you surround yourself with the right people and the right friends, they’re not always going to be trying to go out and spend money... Maybe you just go over to someone’s house and do a game night and get some pizzas.” (George, 02:00)
• Tip: Seek friends who respect budget-driven fun.

2. Buying Things Just Because They’re On Sale [03:05]

• Impulsive sale shopping is driven by marketing psychology.
• "It’s 100% off if you don’t buy it. That’s the greatest sale there is.” (George, 04:20)
• Quote: “Never spend just to save.” (George, 04:45)
• Tip: Ignore fake urgency and only buy what you truly need.

3. Getting Every Upgrade [05:30]

• Upgrades (restaurants, tech, etc.) are small but deadly expenses.
• “Is the juice worth the squeeze here? What is the ROI? Can I live without the upgrade?” (George, 06:00)
• Tip: Say ‘no’ to even the base thing, especially when trying to get out of debt.

4. Lending Money to People [07:30]

• Lending to friends/family usually damages relationships.
• "I have never seen it work out where you lent money to friends and family and it didn’t change the relationship." (George, 08:00)
• Tip: Gift instead of loan if you must, and pay providers directly.

5. Going Out to Eat Frequently [09:30]

• Eating out is a costly social habit, often rationalized as a “need.”
• “Restaurants have to charge about 300% just to cover their overhead... So it’s always cheaper to eat at home.” (George, 11:10)
• Tip: Cooking at home is cheaper and easier than you think (even ChatGPT can help with recipes).

6. Opening and Using Credit Cards [12:30]

• Store cards and “buy now, pay later” feed impulsive spending; psychology trumps good intentions.
• “You cannot argue that you use a credit card just like a debit card. Psychology says you are lying to yourself.” (George, 14:30)
• Tip: Use debit only, avoid credit and “discount” traps.

7. Impulsive Online Shopping [15:50]

• Most online purchases are wants, not needs, easily fueled by social media ads.
• “Stop the scroll if you want to build wealth.” (George, 16:50)
• Tip: Limit screen time and set clear online spending boundaries.

8. Covering the Bill for Everyone [17:30]

• Habitually paying for others out of generosity or to avoid awkwardness harms your budget.
• “If you do this consistently… you’re not footing the bill and then trying to get venmos… either way, it’s exhausting.” (George, 18:30)
• Tip: Set expectations early—split checks and communicate with your friends.

9. Buying Extended Warranties [20:00]

• Extended warranties rarely pay off.
• “A lot of times, the company, the dealership… they’re making more money off the extended warranty than they do off the actual product.” (George, 20:30)
• Tip: Protect your things with cases, not contracts. Most warranties go unused.

10. Peer Pressure Spending [22:00]

• The drive to belong and compare (not just direct pressure) leads to unnecessary spending.
• “Clout chasing… trying to dress a certain way to impress people you don’t really like, you have created a very toxic, sad cycle for your life.” (George, 23:50)
• Tip: Choose supportive friends; be honest about your boundaries.

11. Lifestyle Creep [25:00]

• Raises and windfalls often lead to higher spending instead of saving or investing.
• Three dangerous words: “I deserve it.” (George, 26:15)
• “You deserve a life without payments. So I’m gonna buy the car that I can afford ‘cause I wanna live with some peace and a lack of stress in my life.” (George, 27:00)
• Tip: Budget every month. When your income jumps, stick to your financial goals, not temporary pleasures.

Notable Quotes & Memorable Moments

• ”Never spend just to save.” (George, 04:45)
• “Sorry, Chipotle, no guac today.” (George, 06:45, on saying no to upgrades)
• "Stop the scroll if you want to build wealth." (George, 16:50)
• "If you want to gift money one time to help someone out, do that and do it with peace. And don't expect the money back." (George, 08:45)
• "You can't really go into debt by using a debit card, but you absolutely can using a credit card." (George, 14:45)
• "The three most dangerous words in the English language as it relates to your finances: 'I deserve it.'" (George, 26:15)
• "You work too hard to be this broke." (George, 27:20)
• "Be intentional with your money. Practice delayed gratification, which means saying no right now so you can say yes later on." (George, 28:10)

Key Timestamps

• [00:05] — Why so many Americans feel broke
• [01:00] — The trap of saying yes to every social invite
• [03:05] — The myth of “saving” by spending on sales
• [05:30] — Upgrade culture and why it’s costly
• [07:30] — Lending money and its relational risks
• [09:30] — The true cost of dining out
• [12:30] — Dangers of credit cards (and psychology)
• [15:50] — How online shopping and tech fuel impulsivity
• [17:30] — Picking up the tab for others
• [20:00] — Why extended warranties rarely make sense
• [22:00] — Peer pressure’s sneaky financial toll
• [25:00] — Lifestyle creep and the power of “I deserve it”

Actionable Takeaways

• Audit your spending habits and look for “yes” patterns that drain your budget.
• Practice setting boundaries and saying “no,” especially in social settings.
• Surround yourself with friends who support your financial discipline.
• Embrace budgeting and intentional living as the keys to long-term freedom.

George wraps with encouragement to use a budgeting tool (EveryDollar), focus on intentionality, and make saying “no” now the gateway to bigger “yeses” in the future.

If you enjoyed the episode, hit like, subscribe, and share with someone who needs to learn how to say no.