Podcast Summary: "You'll Never Build Wealth Without Tracking These 9 Numbers"
George Kamel – Ramsey Network (January 12, 2026)

Episode Overview

In this episode, George Kamel dives into the essential financial numbers that everyone serious about building wealth needs to track. Drawing from both his personal journey and his experience as a co-host on Ramsey Network shows, George unpacks why knowing these nine numbers is non-negotiable for financial success. With trademark humor and a no-nonsense approach, he explains not just what to track—but how and why—emphasizing that "I don't know" is the mark of financial confusion, not confidence.

Key Discussion Points & Insights

1. Cash Saved

• Definition: Actual liquid cash you can access easily (e.g., checking, savings, high-yield savings)—not investments or physical assets.
• Why It Matters: It's your first line of defense in emergencies. Without savings, life's surprises (job loss, car repair, pink eye!) push you toward debt.
• How to Track: Add balances from all liquid accounts.
• George’s Recommendation: Save 3-6 months of household expenses for emergencies after paying off consumer debt.
  “When you don't have money saved, you're more likely to turn to debt to get through that emergency. And that slows down your progress toward money goals and adds stress you don't need.” (01:10)

2. Average Monthly Expenses

• Definition: Your average total spending each month across all life categories.
• Importance: Ensures you're living on less than you make—a core tenant of wealth building.
• How to Calculate: Review three months of bank/credit card statements, sort by category, sum each month, and average.
• Practical Tip: Use budgeting apps like EveryDollar.
  “If you want to build wealth, you've got to live on less than you make.” (03:00)

3. Mortgage Balance

• Definition: Remaining money owed on your home loan.
• Significance: This is the distance between you and full home ownership—and full equity.
• Millionaire Mentality: Most pay off mortgages in 10.2 years, not 30.
• Tracking Tip: Log in to your lender or review your latest statement.
• Motivation:
  “They treat their mortgage like a rash or an ingrown hair or anything else you wouldn't want to keep around for 30 years.” (05:05)

4. Monthly Take-Home Pay (Net Income)

• Definition: What you actually receive after taxes and deductions.
• Foundational for Budgeting:
  “If you don't know that number, you're flying blind.” (07:00)
• How to Find: Check your most recent pay stub or bank deposit.
• If Variable: Use high/low from the past year as a range.

5. Margin

• Definition: Money left after expenses.
• Why It’s Crucial: Your monthly breathing room—enables saving, investing, and flexibility.
• How to Determine: Take-home pay minus average expenses.
• Action if Negative:
  “If you have negative margin, meaning you are spending more than you make...you need to make some drastic changes and sacrifices.” (09:30)

6. Retirement Goals

• Definition: Targeted amount needed for your desired retirement lifestyle.
• Guidance: Use George's "How Much Do I Need to Retire?" quiz to calculate your number.
• Humor:
  “Do you want to never miss another Benson Boone concert? It all affects how much you'll need. Except for that last one.” (11:20)
• Classic Quote:
  “If you aim at nothing, you’ll hit it every time.” (10:50, quoting Zig Ziglar)

7. Investment Rate

• Definition: Percentage of gross income put toward retirement accounts.
• What’s Enough?
  “I recommend investing 15% of your gross household income into tax advantaged retirement accounts every single month.” (13:30)
• Warning: Micro investing = micro retirement.
• Action: Start as soon as possible, especially after paying off consumer debt and saving for emergencies.

8. Total Debt

• Definition: Total amount owed (credit cards, loans, etc.)
• Why Important: Debt payments drain resources from wealth building.
• Mindset:
  “Wealthy people are busy earning interest and broke people are busy paying interest.” (15:40)
• How to Track: List all debts, balances, minimum payments, interest rates; or pull your credit report.
• How to Eliminate: Use the debt snowball method—start with the smallest balance.

9. Net Worth

• Definition: Assets minus liabilities—a full picture of your financial standing.
• Motivation:
  “Your net worth is not your self worth. Okay? This is not how good of a person you are. It's just...a great scoreboard to see if you're moving forward financially.” (20:15)
• How to Calculate: List the current value of all assets, subtract total debts.
• Easy Tools: Use the free net worth calculator linked in the description.

Notable Quotes & Memorable Moments

• On Financial Ignorance:
  “A dead giveaway that a caller is lost financially. They say these three words. I don't know. Good lord.” (00:40)

• On Emergencies:
  “Life doesn't give you a heads up before hitting you with a job loss, the car repair, or a case of pink eye. That's what happens when you don't wash your hands. Gary, what were you thinking?” (01:50)

• On Mortgages:
  “The average millionaire pays off their mortgage in 10.2 years. And that's because they see their home as a wealth building tool, not just a place to live.” (05:30)

• On Margin:
  “Your margin is what allows you to save money, build wealth and breathe. Think of it like an inhaler, just without a sweaty nine year old asthmatic on the other end.” (09:15)

• On Debt:
  “The goal here is not to just manage debt, it's to eliminate it completely. Vote it off the island if you will.” (16:30)

• On Net Worth:
  “It's the most complete snapshot of your financial progress...You can have a great income and still be losing ground if your debt is growing faster than your assets.” (19:15)

• On Self-Worth:
  “Your net worth is not your self worth. Okay? This is not how good of a person you are.” (20:15)

Timestamps for Important Segments

• [00:05] – Introduction: Why knowing your numbers matters
• [01:20] – Cash Saved: Emergency fund essentials
• [03:00] – Average Monthly Expenses
• [05:05] – Mortgage Balance and the value of early payoff
• [07:00] – Monthly Net Income (Take-home Pay)
• [09:10] – Calculating and maximizing your Margin
• [10:50] – Setting concrete Retirement Goals
• [13:30] – Determining your Investment Rate
• [15:40] – Confronting Total Debt and the “debt snowball”
• [19:15] – Calculating and understanding Net Worth

Final Thoughts

George closes by driving home the message that clarity on these nine numbers puts you in the driver's seat of your financial life. Regularly reviewing these figures keeps you accountable and motivated.
“Be sure to hit like on this video and share it with someone you love or someone you hate. It's a free country.” (21:10)

Practical takeaway: Stop saying “I don’t know.” Get the facts, and let them shape the actions that will build your wealth.