10 Jaw-Dropping Money Stats About the Average American

Summary

Smart Money Happy Hour with Rachel Cruze & George Kamel

Episode: 10 Jaw-Dropping Money Stats About the Average American
Date: April 9, 2026
Host: Ramsey Network

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Episode Overview

In this lively and unfiltered episode, money experts Rachel Cruze and George Kamel break down ten shocking statistics about the financial realities of the average American. They trade hot takes, personal stories, and plenty of banter, all while sipping a questionable tequila Aperol spritz. The show highlights current trends in debt, savings, cosmetic spending, home buying, and more, and gives practical insights for listeners to buck the trends and take control of their financial future.

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Key Discussion Points & Insights

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1. The Average Tax Refund (03:48)

• Stat: The average federal tax refund in 2025 was around $3,100.
  • "Around $3,100 for the average tax refund." — George, [04:06]
• Usage: 82% of taxpayers plan to use their refund to pay off debt or increase savings, but the hosts stress that “planned” doesn’t always mean “will.”
  • "The key word there is planned. Will they? I hope so." — George, [04:33]
• Personal Tips:
  • Pro tip: If you get a tax extension due to emergencies like natural disasters, keep owed tax money in a high-yield savings account to earn extra interest.
  • "Let's just keep our money in a high yield savings and earn 3%... and then in November we'll pay." — Rachel, [05:17]

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2. Credit Card Debt by Generation (08:51)

• Stat Summary
  • Lowest balances: Gen Z & Silent Generation ($3,400 avg)
  • Highest: Gen X (approx. $9,600 avg)
  • Millennials & Boomers: $6,000–$7,000 avg
  • "Gen X does seem to be in the worst spot because they helping their parents and have kids." — George, [09:49]
• Discussion: Gen Xers feel squeezed with multigenerational responsibilities. Millennials avoid CC debt but carry big student loans.
• Note: Total US credit card debt is over $1.2 trillion.
  • "We are $1.2 trillion in credit card debt, and we are $0 in debit card debt. Yep. So I'm sticking to my debit card." — George, [10:43]

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3. Cosmetic Procedures & Societal Pressure (11:07)

• Stat: 26% of US adults have had a cosmetic procedure; 19% are dental-related (e.g., veneers).
  • "One out of four Americans have purchased a cosmetic procedure which is obviously elective." — George, [12:40]
• Discussion:
  • Celebrities drive the trend; Rachel calls out the culture of perfect teeth and jaw-dropping costs/stigma.
  • "You know, they have to shave your teeth into, like, little pointy things." — Rachel, [12:25]
  • Botulinum toxin (Botox) also included; George jokes about aspiring to be a “silver fox.”
  • “Men tend to age into like, what a silver fox he is. ... And women, society tends to go, oh, gosh, yeah, look at the grays." — George, [13:39]
• Reflection: Both worry about lack of long-term research and societal obsession with youth.

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4. Daily Financial Stress (14:55)

• Stat: 50% of Americans worry daily about their personal finances.
  • "Half of us adults worry daily about their personal finances." — Rachel, [14:57]
• Discussion:
  • Living paycheck to paycheck is a core trigger; even high earners with big payments feel anxiety.
  • “Even middle class people who are carrying a bunch of payments ... maybe your body's kind of keeping score going, 'Hey, we're not safe.'" — George, [16:05]
• Solution:
  • Get out of debt, build emergency savings, and develop healthy money habits.
  • “Those things alone will give you a baseline of peace.” — George, [17:02]

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5. Car Loans & Negative Equity (18:15)

• Stat: 28% of car trade-ins have negative equity (the car is worth less than owed).
  • "More than a fourth of the cars that we see on the road are worth less than their outstanding loans." — George, [18:26]
• Discussion:
  • Rolling over old car loans, dealer trickery, sky-high interest rates make things worse.
  • George mentions someone paying 28% APR on a car loan.
  • "That's like a credit card!" — Rachel, [19:28]
• Advice:
  • Always pay cash for cars to prevent ever being underwater.
  • "You can't be underwater on a car that you fully own that doesn't have a loan attached to it." — George, [20:15]

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6. Buy Now, Pay Later (BNPL) Usage Among High Earners (20:15)

• Stat: People earning over $100k are more likely to use BNPL services.
  • "People earning over $100,000 are more likely to use buy now, pay later. I'm shocked." — Rachel, [20:15]
• Discussion:
  • High earners use BNPL to manage cash flow and maintain lifestyle; reinforces the reality of “lifestyle creep.”
  • "They can't justify paying $200 now, but they can justify $50 now... and $50 next week." — George, [21:27]
• Reflection: Even six-figure earners can be “paycheck to paycheck.”

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7. Student Loan Debt: Hawaii's Surprise (21:49)

• Stat: Hawaii residents are the least likely to carry student debt.
  • "Citizens of Hawaii are least likely to carry student loan debt." — Rachel, [21:49]
• Discussion:
  • Speculation on cost of living versus student debt, family moves, and generational ties.
  • Lighthearted exchange about kids going to college far from home.
  • “It wouldn't be my first choice. I'd want her close to home for obvious reasons.” — George, [23:10]

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8. Median Age of First-Time Homebuyers (25:20)

• Stat: Median age is now 40, up sharply.
  • “That means if you did a 30 year, you'd have paid off at 70. ... Which a lot of people move.” — Rachel, [25:25]
• Discussion:
  • Reasons cited: higher home prices, longer savings period, delayed life milestones.
  • "It is just more expensive these days and it takes people longer to save up for what they want." — Rachel, [25:51]
  • Financial advice: focus on debt freedom so more can be saved for down payments.

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9. Couples & Joint Finances (26:45)

• Stat: 23% of couples have no shared bank accounts.
  • “That seems so low to me. ... I love a unified checking account.” — Rachel, [26:51]
• Discussion:
  • Most couples share accounts, but a significant minority keep finances separate.
  • Transparent finances are touted as key for marital unity and healthy budgeting.
  • "It creates unity. Like, you're getting married. Married. You're married. That's part of it." — Rachel, [28:12]

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10. Cash Sitting Idle (28:19)

• Stat: Americans collectively have $4.5 trillion in cash earning little to no interest (checking/savings at near-zero rates).
  • “Americans have $4.5 trillion in cash earning little to no interest.” — George, [28:19]
• Discussion:
  • Often fear-driven, especially among older savers scared of market volatility.
  • Inflation erodes buying power.
  • Rachel and George recommend high-yield savings for at least some growth.

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Notable Quotes & Memorable Moments

• Rachel’s Vegas Gambling Encounter ([06:31])

  • “Oh, Dave Ramsey’s daughter wouldn’t be gambling. … I said, don’t tell my dad.” — Rachel, [06:47]

• Boy Math & Girl Math ([05:49])

  • “That’s boy math right there.” — George, [05:49]
  • “That girl math is my favorite.” — Rachel, [06:00]

• On Passive Income & Investing

  • “That’s truly the only passive income that exists.” — George, [08:19]
  • “I can’t wait just to live off of that one day.” — Rachel, [08:04]

• Homebuying Math

  • “That’s halfway to 80 if you’re doing the math, man.” — George, [25:22]

• On Store Customer Service (Guilty as Charged segment) ([34:45])

  • “You work on commission. Big mistake.” — Rachel, channeling Pretty Woman, [36:32]
  • “I still supported that business, but based on principle, I walked out of there.” — George, [36:27]

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Important Timestamps

| Time | Topic | |----------|------------------------------------------------------------------| | 03:48 | Average tax refund, state of emergency extensions, savings hacks | | 08:51 | Credit card debt by generation; discussion on generational debt | | 11:07 | Cosmetic procedures, celebrity teeth, societal beauty pressure | | 14:55 | Daily financial stress, paycheck-to-paycheck living | | 18:15 | Car loans/trade-ins with negative equity; car dealer traps | | 20:15 | Buy Now, Pay Later trend among high earners | | 21:49 | Hawaii & student loan debt | | 25:20 | Age of first-time homebuyers rising | | 26:45 | Joint vs. separate bank accounts among couples | | 28:19 | Trillions in cash earning no interest | | 33:13 | “Guilty as Charged”—customer experience frustrations |

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Show Tone & Approach

The episode mixes informative stats with accessible explanations, real-life stories, and a playful—sometimes self-deprecating—tone. Rachel and George maintain humor even during sobering discussions on debt and worry, always returning to practical, achievable advice.

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Conclusion & Takeaways

While many of the stats are discouraging—rising ages for first-time homebuyers, massive debt loads, common financial stress—the hosts emphasize that listeners can choose not to be part of the statistic. By building emergency savings, limiting debt, and practicing joint stewardship with spouses, anyone can chart a different course.

• “You don't have to be a part of that stat. You can do things differently. And that's why we host this show, to show people a smarter way to handle their money.” — George, [31:30]

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Drink Review (31:54)

• Drink of the week: Tequila Aperol Spritz — flavor described as “cough syrup.”
  • Rachel: 2/10, George: 3/10 (“At least not room temp!”)
  • “If you want to find out for yourself if it’s as bad as we say…” — George, [32:40]

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Listen Next

• “Weird Money Habits That Will Make You Rich” — Recommended in the episode outro for further listening.

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For show notes, recipes, and resources, visit the Ramsey Network or ramseysolutions.com.

Transcript

[A]

Hey guys, Rachel Cruze here. Listen, we need your help. We have a survey coming out around Smart Money Happy hour and we wanna make this show even better in 2026, but it's up to you to help us.

[B]

So here's how you help us. Text the word smart to this number 33789 or go to ramseysolutions.com smart to take the survey. And no pressure, but we need to beat a world record here. So take it asap.

[A]

Help us out and you could win a hundred dollar Amazon gift card.

[B]

Who knows if you want to help us out and get a chance to win an Amazon gift card while you're at it, go take it. The survey closes April 10, so time is of the essence. We're not a fan of keeping up with the Joneses, but have you ever wondered how much debt they have? Well, today we're going to drop some jaw dropping money stats that will hopefully make you feel better about your own finances.

[A]

Dave Ramsey's daughter wouldn't be gambling and I was like, that's me.

[B]

The median age of first time home buyers is now 40 years old.

[A]

No way. You work on commission. Big mistake. Hey guys, I'm Rachel Cruz. I'm George Camel and this is Smart Money Happy Hour. Cheers.

[B]

George, that was a 90 10. We can all agree. I really reached for that one.

[A]

Oh yeah.

[B]

Oh wow. That's not what anyone expected.

[A]

Cough syrup, anyone?

[B]

That's exactly what it's reminding me of.

[A]

It's like cough syrup. So sorry. I think it's great.

[B]

You know, they used to put alcohol in cough syrup, so it tracks.

[A]

This is a 1920s cough syrup. Okay.

[B]

Dymatap.

[A]

This is also the show where two friends who happen to be money experts talk about what you're talking about. Everything from pop culture, current events and money. George is terrible. I'm so sorry. The taste that is happening.

[B]

Well, if you're gonna wait for Rachel's rating, I don't think you need to. Guys, here's what we're sipping on. It is not cough syrup. It is in fact a tequila aperol spritz.

[A]

God, that sounds so wonderful.

[B]

Three things that you would think would go together. I don't know, the spritz, the aperol, the tequila, it's all there. So we're gonna find out where this went wrong. At the end, we're gonna give you our rating and reveal the cost per glass. Stick around. I think it's actually kind of delightful.

[A]

Okay, you're fine with it.

[B]

You've never drank cough syrup for fun.

[A]

I know. Just for the heck of.

[B]

Just to feel something.

[A]

Just. Just have a little something pop.

[B]

A little dayquil.

[A]

You know what? I did dayquil once in my life. That was like two years ago. And I came to work. I don't even know if. And we were filming my show.

[B]

I. I don't know how. It's street legal without an id.

[A]

It was bizarre. It was a bizarre experience.

[B]

You know, Dayquil on an empty stomach. That's a nice buzz.

[A]

Yeah. Like what?

[B]

I'm just saying. All right. You're gonna be feeling good, Rachel. It's April, one of your favorite months because it's the month you were born.

[A]

That's true.

[B]

Happy early birthday.

[A]

Thank you.

[B]

And that means we're in the month where showers bring my flowers.

[A]

That's right.

[B]

Very excited about that.

[A]

And we're in tax month, too.

[B]

Also excited about that.

[A]

I know.

[B]

Cause I got mine done.

[A]

Yes. Completed. So did we.

[B]

You get yours done.

[A]

Feels good. You know, thank you, Winston, for all the work you put in.

[B]

40 minutes with my tax pro. I was in and out, and we were drinking margs and.

[A]

That's right. You went to a Mexican spot after.

[B]

Yeah.

[A]

Great.

[B]

Wonderful. But we got the spicy marg, and the salsa was spicy. So my wife's mouth was just on fire. She couldn't taste anything.

[A]

It was just like. I'm just. You're done.

[B]

I enjoyed it again. I like to feel a little pain.

[A]

Yeah. Just pain in life. That's what George says.

[B]

Here we go. We got it done.

[A]

Oh, my gosh. Yeah. Well, we're going to be talking about some crazy money stats in this episode.

[B]

Why don't we kick it off with this? Can you guess what the average tax refund was?

[A]

Refund?

[B]

Yep.

[A]

I bet the average was $1,833.

[B]

You are so wrong.

[A]

Oh, geez.

[B]

2025 IRS data.

[A]

Yeah.

[B]

Around $3,100 for the average tax refund.

[A]

Wow.

[B]

Pretty crazy.

[A]

3,100 bucks.

[B]

People are out there making bank.

[A]

Yeah, they are. Or not. You know, paying too much taxes.

[B]

Making bank.

[A]

They're doing that same.

[B]

Got a refund from.

[A]

Well, here's a great stat people forget.

[B]

It's called a refund for a reason.

[A]

82% taxpayers who have a refund plan to pay off debt or increase savings. Yay.

[B]

82%. Now, the key word there is planned.

[A]

Planned plant.

[B]

Will they? I hope so.

[A]

I hope so.

[B]

If you've got some debt you don't have savings, this should be your A1.

[A]

Okay. I know we did ours because of April did you remember in 2025, we, Tennessee, had a state of emergency because of all the flooding that was happening in east Tennessee. And, like, and we didn't have to file to November. So wait, what's the life hack here? Winston Cruz loves that.

[B]

So floods equals. You can kick your taxes, I guess,

[A]

if it's a state of emergency, you're tax you. Yeah. The taxes get pushed.

[B]

I don't know.

[A]

And I don't know if the governor. I don't know who decides this, but. Yeah. And so we don't have to pay it in November, So. Winston, because we usually end up owing, like, I feel like we never get a refund. If anything, we like, yeah, we owe. And so. Because that's the normal rhythm, Winston was like, well, hold on. We don't have to pay till November, so let's just keep our money in a high yield savings and earn 3%,

[B]

you know, life hack.

[A]

Yeah. Through the year. And then in November will pay, but we'll just earn money on the money we would have paid. Washington.

[B]

That's smart. Yeah. I did that for two months because we. We did it on Valentine's Day.

[A]

Okay.

[B]

Our taxes. And he was like, hey, do you want to pay now? I was like, no, I want to pay on April 15 and no, earlier.

[A]

That's right. That's right.

[B]

I did the math. I was like, I could make like, $200 extra in my high yield savings,

[A]

pay for this dinner and another dinner, and I did you know what?

[B]

That paid for the lunch that day.

[A]

See, don't you love that?

[B]

That's boy math right there. I. I love it.

[A]

I did that recently, George, when we went to Vegas for the Backstreet Boys.

[B]

That's right. For the second time.

[A]

Yes.

[B]

And by we, you mean a girls trip.

[A]

It was a girls trip.

[B]

Winston not invited.

[A]

Winston did not go. And it is like that kind of math. That girl math is my favorite because. And everyone knows this. This is a known thing. People get mad at me, and I'm so sorry, but if I'm in Vegas, I love playing craps.

[B]

Yep. And they go, rachel's a degenerate gambler.

[A]

Yep. And I love being. Yeah, I love being the shooter. You know, you're rolling those eyes, and actually, I got a little lady. Did I tell you this story already?

[B]

You got a little lady. I don't remember this.

[A]

No. A little lady came up to me. Sorry, I was mid story, and then I thought, have I told you this?

[B]

I don't remember this.

[A]

Yes. This sweet lady came up to me. Older Woman. She was like, yay. Hi. She was like, are you Rachel? And I was like, I am. And she was like, my husband over there kept saying that was you. And I told him, oh, Dave Ramsey's daughter wouldn't be gambling. And I was like, oh, my gosh. That's me here I'm Vegas playing craps. I said, don't tell my dad. She's like, I won't.

[B]

So that is so funny.

[A]

Way to do the Lord's work at the craps.

[B]

Were they also gambling?

[A]

But here's. No, they were walking through.

[B]

Oh, probably good people.

[A]

Christians, good people. Good people. I know. No, but all that's to say, my friend had never played. And so I roped her in and was, like, telling her what to do. And there's, like, a whole superstition in Vegas of, like, beginner's luck. Like the first role. And it was. She rolled for, I mean, 20 plus minutes, y'.

[B]

All.

[A]

And. And we made so much money, and it paid. I only ended up out of pocket on that whole trip. Except for airline tickets. Cause I paid for those, like, months before. But hotel, food, everything. And not concert tickets either. This is getting worse. This is getting worse. But food, hotel. I'll put that. I only, out of pocket, paid $72.

[B]

Wow. Because of your winnings.

[A]

Because of my winnings, y'. All. And I wasn't even, like, betting a ton, but you just kind of keep winning a little bit. A little bit.

[B]

Yeah.

[A]

Well.

[B]

And crap streak. It just keeps adding up.

[A]

I mean, it was crazy, George. So good for you. Don't you love when life works out like that? You don't pay tax. Your tax bill for two more months. You make 200 bucks. Pay little craps in Vegas. Pay for your.

[B]

It's trying to, like, found money.

[A]

Yes. And it's the best.

[B]

It's money that you didn't, like, work for, quote, unquote.

[A]

Right, right. It just happens. That's why I love investing. And I look at compound interest. I'm like, I can't wait just to live off of that one day. Like, I didn't work for most of that.

[B]

Yeah.

[A]

It just was working for me.

[B]

That's going to be the wild part. I can't wait for that day where the money just shows up and, like, I didn't have to go to work for that.

[A]

Yeah. I put in this much.

[B]

That's truly the only passive income that exists in.

[A]

Gosh, are you so excited for that day? I am.

[B]

Can't come soon enough. I'm going to be Here until they fire me. So.

[A]

Oh, George, as long as you'll do this show.

[B]

Rachel, I have a job. So please, never quit.

[A]

Never quit, never will we quit?

[B]

Well, let's get to some juicy stats.

[A]

Yeah, there's some good money stats in here. We're not going to talk about taxes the whole time, people.

[B]

No, I mean as far as jaw dropping, shock and awe. I feel like a lot of people will, maybe their jaw won't be fully dropped, but there's some ones in here that make you question humanity.

[A]

Should we start off with the average credit card balance by generation?

[B]

That's a good start.

[A]

You ready? So the lowest balance is Gen Z and the silent generation. Way to go.

[B]

Old people and young people.

[A]

The bookmark the book.

[B]

To be fair. The silent generation. Are they all there? Are they even able to go into credit card debt at this stage?

[A]

I mean, I'm sure they could. Okay.

[B]

And Gen Z, I have found, is kind of spooked by credit cards and going into debt.

[A]

Yep. So they're. Yeah. So that average is 3400.

[B]

Okay.

[A]

The highest is Gen X. Come on. Yeah, yeah. 40 and 50 year olds out there. Approximately $9,600.

[B]

That's high.

[A]

And our mid range is our millennials and our baby boomers and they're anywhere from six to $7,000 in credit card debt.

[B]

Wow.

[A]

What do you think about that?

[B]

Yeah. Well, I've seen, because we've, I've done a lot of videos around the money stats and Gen X does seem to be in the worst spot because they

[A]

helping their parents and have kids.

[B]

Yeah. And I think they were raised up in a generation. It was like the first generation to truly just grab ahold of debt and go, well, it's normal. You gotta have a payment, you gotta build your score. I think that was the first generation that had to deal with that. And the millennials got a little bit wiser with it. Not great. We took on probably the most crippling student loan debt out there.

[A]

Yep, yep.

[B]

And then baby boomers I think are, they're in a better spot financially where they did have a good, you know, economic.

[A]

Yeah.

[B]

Rise there for a while. But it's still kind of sad to see everyone's got thousands of dollars.

[A]

I know.

[B]

Credit card debt.

[A]

I know.

[B]

And if you have credit card debt.

[A]

Yep. And that's the average. And a lot of people again get credit cards like, well, I'll pay it off every month. But we do see time and time again that just doesn't happen. And how high the interest rate is with credit cards. It just keeps rolling to the next month. And even to keep up with minimum payments, with the high interest rates, like, it's just. It's a lot.

[B]

So it's what drives me crazy about a lot of financial experts out there. They go, well, just pay it off, be responsible. I'm like, well, if it was so easy, everyone would. There was no fall of man in Genesis. Maybe this plan could have worked. But here we are. $1.2 trillion in credit card debt, and we are $0 in debit card debt. Yep. So I'm sticking to my debit card. That's the math. I didn't have to look up that stat.

[A]

That's good. I like that.

[B]

All right, next jaw dropping stat. 26% of Americans have purchased Cosmetic Pro for themselves.

[A]

Okay. 19% of these were dental related. So celebrity veneers, really, they've gotten out of control. George.

[B]

Is that the big one? Are celebrities getting the veneers, or can you get veneers that look like a celebrity's teeth?

[A]

All the above. I feel like celebrities are doing the veneers. I feel like that's, like, a thing.

[B]

Yeah.

[A]

You see, like, the perfect teeth, and then.

[B]

Who do you think of when you think good teeth in Hollywood?

[A]

You know, I just thought of, and I don't. Well, Julia Roberts and hers aren't veneers. That's a classic smile from life.

[B]

Oh, really? Au natural.

[A]

Yeah, I mean, I think. I don't know her, but she's had that smile since Pretty Woman days. I mean, she's just. You know what I mean? You know who I thought of maybe. Cause she's in court, but Blake Lively, I think she has a really beautiful smile. Margot Robbie, I think has a beautiful smile.

[B]

Okay. I'm picturing it now.

[A]

Yeah.

[B]

I mean, Barbie, she was in the.

[A]

Yeah, I know. And I'm pretty sure they have all veneers. Yeah. I feel like if you have, like.

[B]

I think I feel like veneers used to be for old people.

[A]

Yeah, no, they're going.

[B]

The young people.

[A]

And you know what? It was like, really a hot thing. And then I feel like people are going back to natural. I don't know. But the thing with veneers, you know, they have to, like, shave your teeth into, like, little pointy, like, things.

[B]

Oh, and then they, like, put something on it.

[A]

Yes, George. It's not. It's like your teeth are forever gone.

[B]

Are you under for that? Cause I wouldn't want to know that's happening because there's probably, like, a Drill.

[A]

Oh, I'm sure there is.

[B]

That's like hot. And it's like hot. That sound.

[A]

Can't do it.

[B]

I'm out on that.

[A]

I know.

[B]

Wow. Well, all these procedures, that's. One out of four Americans have purchased a cosmetic procedure which is obviously an elective thing. It's not necessary.

[A]

I wonder what's considered. Do you think Botox? Is that considered a procedure?

[B]

Fillers, Botox, all of that.

[A]

I believe it. And only. Only a. Only a fourth. So you think about the human population. I don't know what the stats are. Half men, half women.

[B]

I do wonder if it's more women than men.

[A]

So then I wonder if it's like half of women in the United States get Botox.

[B]

That would be wild.

[A]

But dudes get Botox and stuff, you know?

[B]

Yeah.

[A]

Not a lot.

[B]

I mean, not me. Not all natural. You can tell my face is melting.

[A]

Will you color your hair, George, when you start getting grays? Or do you like the pepper? The salt and pepper.

[B]

I'm hoping for that Steve Carell look. Jeff Goldblum. That's kind of what I'm aiming for.

[A]

Yeah.

[B]

That's aspirational. I don't think it's realistic.

[A]

Okay.

[B]

But I think men tend to age into like, what a silver fox he is. He's so handsome.

[A]

100%.

[B]

And women, society tends to go like,

[A]

oh, gosh, yeah, look at the grays.

[B]

This is what happened. And then they go, women should just age naturally. Like, well, when they did, you were

[A]

mad you didn't like them. Thank you, George.

[B]

I'm just in support of the women here.

[A]

Way to help us out there.

[B]

But I don't know a lot about cosmetic procedures, but it scares me because they can go wrong and we don't know the long term effects on what

[A]

all this is doing, what all this is doing.

[B]

But I think our society has gotten a little more vain and they've just become easier. Like, anyone can go get a procedure and it's a few hundred bucks.

[A]

That's the thing about today. You think about it. You're like, okay, travel, whatever it is. Like, things that our parents never would have had the accessibility to. It's just down the road, you don't

[B]

need to go to a plastic surgeon. There's like a little clinic down the street.

[A]

What do they call it? Spa? Day spas? Med spa. Thank you.

[B]

There was a party in my neighborhood at a neighbor's house where they were doing Botox.

[A]

Yes, I hear about those.

[B]

And I got invited and I went.

[A]

You went?

[B]

I went to the party. I didn't do the Botox.

[A]

You went to the party. Was it a bunch of women getting Botox?

[B]

No, the guys were drinking some bourbon, so I was like, well, I'll go for that.

[A]

Oh, and then the girls got the Botox?

[B]

Yes.

[A]

Okay. I don't want you to spill the tea about Whitney, if she did or not.

[B]

She did not.

[A]

She didn't tell you that? She did not. Okay. She said no. Good for her.

[B]

Above the influence, as they say.

[A]

Well done.

[B]

All right, next stat hit me.

[A]

Half of us adults worry daily about their personal finances.

[B]

Probably half in credit card debt and getting cosmetic procedures.

[A]

And I do think half are living paycheck to paycheck right now too. So that makes sense.

[B]

That tracks.

[A]

It all adds up. And I would worry, too. That's tough.

[B]

But that's a heartbreaking stat.

[A]

Money stress is real.

[B]

Like, every day you wake up, there's a little bit of financial anxiety.

[A]

Yes. Underneath it all, 100%. Yep. Yeah, there's some heartbreaking.

[B]

What do you think is the cause of that feeling?

[A]

What's the cause of the stress?

[B]

Yeah, just the worry daily. Do you think it's like, how am I gonna pay my bills?

[A]

I think it's the paycheck to paycheck living. If one thing bad happens, we're doomed. And that's, like, today, it's basic survival. Right? I mean, that money is what we have to survive today, where I feel like you go back hundreds of years and it was, can we find clean water? Do we have shelter? Can we hunt to eat? Like, that was survival today. This is survival. And if you can't pay for things, I mean, that's hard. And if you have a family on top of that.

[B]

Right.

[A]

And you're taking care of kids, you have responsibility. Like, it's just. That's a heavy. A heavy load to carry.

[B]

Yeah.

[A]

So I do think there's different buckets.

[B]

Like, if you're truly broke, paycheck to paycheck. That is ultra stressful. But even middle class people who are carrying a bunch of payments that they can kind of afford, maybe your body's kind of keeping score going. Hey, we're not safe. Yeah, we're not safe. If you lose this job, we're going to. We can't make these payments anymore. We bought too much house. And so as you kind of cross the spectrum from broke to people making hundreds of thousands of dollars, we get the call on the Ramsey show. They're stressed.

[A]

Yeah. They're making 130, and they have no savings and you're like, wait, What?

[B]

We're making 300,000. And they're like, we have no money left at the end of the month. And I have to yell at them and say, America has no empathy for you.

[A]

No one has sat for you.

[B]

But just know, I know this is

[A]

a you problem, but the amount of people we call and we're like, hey, do you have any savings? And they're like, I have nothing. That's a common. Yeah, that's common.

[B]

Which adds to the worry. So solutions here. Get out of debt, stay out of debt and have emergency savings. Those things alone will give you a sort of a baseline of peace.

[A]

That's right. Absolutely, guys. And put systems in place that are for you and including where you bank. And that's why I love Fairwinds Credit union because they are people that not only really do care about you, I mean, they've aligned with Ramsey value of their messaging. The celebration of wanting you to win financially is for you, it's not for them. A lot of banks want more of your money. They sell you crappy products where they make so much money off of you. That's not Fairwinds. Fairwinds is there because they want your banking experience to be easy and enjoyable. And again, they want you to hit your money goals so you can open up a smart bundle where you get the smart checking account with the debt as normal. Beware debit card, we love it.

[B]

Got to use mine yesterday at Trader Joe's. Real conversation starter, let me tell you.

[A]

Can I tell you my old debit card at our old bank, the chip didn't never work. I was always still a slide in or a swiper. Now you can tap the tapping, which I know is not big for a lot of people. It was big for me. So thank you Fairwinds. Thank you for the technology, but it is great. So Fairwinds is where George and I both bank and they're fantastic.

[B]

So get that smart bundle. No fee checking, high yield Savings. Go to Fairwinds.org Ramsey or click the link in the description.

[A]

All right, what's the next jaw dropping stat?

[B]

George, this one does not shock me because we've taken many a call on the Ramsey show where someone's in this situation. 28% of car trade ins have negative equity.

[A]

Oh, that's the worst.

[B]

Think about that. More than a fourth of the cars that we see on the road are worth less than their outstanding loans because

[A]

they're usually rolling over from another car loan too. Yeah, that can happen.

[B]

Then depreciation hits, and you. And you got hosed at the dealership. So you paid $40,000 out the door. And as soon as you drive away, the car is not worth 40,000, but that loan stays there, and the interest is racking up.

[A]

And as it decreases in value and you go try to sell it, and you've been paying more and more because of interest, and it's just that keeps doing this. And the negative equity is what's so sad to me. We'll talk to someone, and they're like, yeah, I've got a. I don't know, afford focus, and I got $40,000. And we're like, wait, how? How is this possible? They're like, well, I rolled over negative equity. And then you talk to him. We got this cold, remember this torch? And the kid, like, made $45,000 a year, but his car was. And you just think that's criminal. Whoever gave you that loan? Like, it's horrible. So.

[B]

And then the interest rates. I was talking to a guy the other day. He's paying 28% APR.

[A]

Oh, my gosh. On a car that's like a credit card.

[B]

Exactly. Oh, fifteen thousand dollar loan.

[A]

Yeah.

[B]

It's just brutal what's happening when you're

[A]

buying cars, you guys, not only do you need to use cash, but be smart. Like, some people really do stumble on car lots. And they get people, you know, the dealers, like, I mean, all they say

[B]

is what kind of payment you're looking for.

[A]

Well, and they sit down, they got a board, and they're drawn, and they're here, and this. And they move this number around, like, here, you want, you want. And you're like, yeah, I just need a car. I'll sign it.

[B]

Then. You've been there three hours, and you're just like, get me out of here. Whatever, I'll sign.

[A]

I wonder if that's part of their. Keep you in there for longer.

[B]

It's like a timeshare presentation. You're just, like, ready to get out of there. You're like, all right, fine. I want to see my kids again, man. Oh, my gosh. Pay cash for your car because you can't be underwater on a car that you fully own that doesn't have a loan attached to it. So depreciation can hit and you can still sleep well at night.

[A]

Be aware. All right, next. People earning over $100,000 are more likely to use buy now, pay later. I'm shocked. What? Okay, this is a survey by Morgan Stanley, and, yeah. And I think it's because apparently People, obviously, in this kind of income bracket, they. They have disposable income, and they're paying to kind of maintain credit and just keep that life afloat.

[B]

Just keep up with my payments, and I'm good.

[A]

Okay. That is an interesting stat, though. I'm kind of shocked by that.

[B]

Yeah.

[A]

Because I would have thought if you're having to break up those payments, you may not have. Be able to afford it in total. But for them, it's just like they're. They may have the margin, but still, it's just like, hey, I can just do this.

[B]

They'd rather kick the can down the road payments, add it to the tab. And we also know there's a lot of stats out there about how a lot of people making over six figures are paycheck to paycheck.

[A]

Yes, absolutely.

[B]

But they still want the nice things. This is sort of the, I think, a terrible sweet spot for the middle class. Yeah, they're making six figures, but there's a lot of lifestyle creep. There's a lot of payments in their life.

[A]

Life.

[B]

And so they really. They can't justify paying $200 now, but they can justify $50 now.

[A]

Right.

[B]

And 50 bucks next week and the week after.

[A]

68 here or there. And it's. Yeah, totally.

[B]

That makes sense to me because they're the most likely to try to keep up where someone making 40 grand is not trying to buy things they can't afford as much.

[A]

That's right. That's right. Okay, next. Ooh, this is a fun one. Citizens of Hawaii are least likely to carry student loan debt.

[B]

That's interesting.

[A]

Island life, financial health. Hawaii is very expensive to live in, though.

[B]

Yeah.

[A]

It's a very high cost of living.

[B]

And I don't know how many, like, colleges and universities are in Hawaii.

[A]

What if Mia came to you and was like, daddy, I want to go to Hawaii University. Would you let her go?

[B]

I would be heartbroken. But also not a bad place to visit my little girl. I mean, if it's. If it's what she wanted.

[A]

Wait, seriously? You would say yes.

[B]

I mean, at that point, they can kind of do what they want.

[A]

Well, with your money, maybe.

[B]

I mean, I'm saving up. I already. I crunched the numbers this morning on her529 to make sure we're on track.

[A]

That's great.

[B]

We're looking good.

[A]

Do you have you. So you have no. You have no bounds with college? It's just.

[B]

Well, what I'm going to do is, yes, I'd like to have bounds and Dave Ramsey did this with you guys. He said, I will pay for.

[A]

You have to do it his way. Yeah.

[B]

You're going to finish in four years. So I would love. I love that model of, hey, I will pay for college if you do it this way. Now, I want to say you will not go into debt.

[A]

Yes.

[B]

I hope that she's raised with that value. I also know I can't control an 18 year old at that point. Legally, they can make their own because

[A]

you don't have to do a parent plus loan at that point.

[B]

I would never do a parent plus loan.

[A]

Yes, I know you wouldn't join.

[B]

I'm going to say, here's the money we have. If you choose to go over that, just know that God is watching the borrower. Slave to the lender.

[A]

Okay.

[B]

Go read some proverbs.

[A]

But, yeah, Hawaii. You'd be like, yeah, girl.

[B]

It wouldn't be my first choice. I'd want her close to home for obvious reasons. But I flew the coop at 20 and went from Boston to Alabama and never came back.

[A]

That's true.

[B]

So I feel bad for my parents in hindsight.

[A]

Yeah.

[B]

I was just talking to Whitney today. She was at a coffee shop, and behind her was a dad reconnecting with his daughter who's at college.

[A]

Oh, my gosh, make me cry.

[B]

And she said it was so sweet but also so sad because she was picturing that being her and our son or daughter. And you're just like, this is all

[A]

the moments you have the worst. And I was this woman in Winston's life. They marry someone that's not nearby and then they move.

[B]

Yep.

[A]

And then you. That's sad. It's hard now.

[B]

It worked out for the Ramsey family. Did Dave instill in you that, like, you will not move?

[A]

No.

[B]

How. How did that work out that all the siblings live here?

[A]

I mean, I was working here.

[B]

Your job is.

[A]

Roped us in with that.

[B]

If you work at Ramsey, you ain't going nowhere.

[A]

Yeah, you ain't going nowhere. There's no long distance drops here. Yep. Well, if you were to fly to Hawaii to visit Mia, you probably want to be cozy. So you probably should wear all your cozy earth items that you got George

[B]

for a long flight.

[A]

And I bet they will still be around because they're that amazing of a company.

[B]

Yeah, they're not going anywhere. And I would be rocking the bamboo joggers the whole way to Hawaii. Yes, you would, because that looks classy in an airport.

[A]

Yeah. And then if you got first class and you guys are extra bougie Whitney could change into her cozy earth pajamas

[B]

while going on the flight.

[A]

Yeah.

[B]

Like time to lay down in our bed. Yes.

[A]

Like at that point when Mia's that age, you will be in a lay down first class bed.

[B]

My hot take is that air travel will get worse and worse over time.

[A]

Don't say that.

[B]

But I don't think it's getting nicer.

[A]

Coast the earth will not though the quality will not be shaken. Will not be shaken with rough times. But yeah. Whether it's bedding, whether it's blankets.

[B]

Athleisure.

[A]

Athleisure. I mean all of it. You guys like, the stuff is so great. The socks. We say it over and over again.

[B]

I don't know why it's the socks.

[A]

For me, they're amazing. They are. Winston Got pairs, I got pairs.

[B]

It's the little things in life, guys. Give the gift. Everyday luxury. You can go to cozyearth.com smart money. Use code smart money at checkout and you'll get 20% off their luxury goods and you won't regret it. All right, our next stat, Rachel. The median age of first time home buyers is now 40 years old.

[A]

No way.

[B]

That's halfway to 80 if you're doing the math, man.

[A]

That means if you did a 30 year, you'd have paid off at 70. That if you stayed in the same house and didn't upgrade.

[B]

Yep. Which a lot of people move. A lady called in the Ramsey show the other day and she was like, well, we're gonna live in this house forever. So it makes sense. She was trying to justify these super expensive renovations, like hundreds of thousands of dollars. And they were like 42. I was like, you're guaranteeing. I said, call back when you're 97 and tell me that you're still in this home.

[A]

I know, Yeah. I mean the housing market, we've talked about it a lot. It's. It is just more expensive these days and it takes people longer to save up for what they want. And so that is a reality.

[B]

But also life expectancy is going up, so.

[A]

Yeah, but I think that is one reason to get out of consumer debt. Because if you do free up two car payments, student loans, credit card debt, like all of that money added each month, hundreds of thousands of dollars. Right. That could be going towards saving up that much faster for a down payment.

[B]

So you can make home ownership a priority.

[A]

That's right.

[B]

By saying, I'm not going to take on this other debt. I want to really focus on something that's going to build equity and give me a better quality of life.

[A]

That's right. Next. Oh, I just read ahead, and I like it, George. I like what I see. I sound like Ken Coleman there. I like it. I like it a lot. I like it a lot. That's what Ken Coleman would say. 23% of couples have no shared bank accounts. That's lower than I was expecting.

[B]

So that's the ones who are honest.

[A]

Only a fourth.

[B]

They probably have a shared. But they probably have their other accounts, too.

[A]

Don't. Don't bust my bubble. I love a unified checking account, and that means 75% of couples do. Okay, I'm reading that right, right?

[B]

Well, 77 if we're doing the math, but yeah.

[A]

So majority of couples have a shared checking account. That seems so low to me. I feel like the amount of hate I get on social media when I talk about this feels way more.

[B]

Yeah. People act like no one's cheating on it.

[A]

I feel like it'd be the opposite. I feel like only 20% of couples share an account is what it feels like out there. But this gives me help, George. Yeah. Share an account, you guys. It is one of the best things that you can do from not just the money perspective, but for your marriage.

[B]

And here's the hot take. Don't have also your separate accounts that you both use on the side with, like, your own secret money. The way I do it, we have one joint checking and our joint high yield savings. Everything is together. She has access and can see it at any time.

[A]

Yes. And because the whole, like, separate thing is because you don't want them to see it. Right. And not.

[B]

You don't want them to control your spending.

[A]

Yeah. So why is that? Is it because they are too dominating and controlling? Which means they probably are doing that in other parts of your marriage and. Or are you too passive and, you know, a little bit like, oh, I just don't want them to see it. Cause I don't want to have to deal with the feelings of what I have to feel like. Right. It's all a level of sweeping under the rug. Like, that's why I don't want him

[B]

to judge me out. I don't want to judge him. Like, it's our business.

[A]

Yep. Having everything out in the open, it creates unity. Like, you're getting married. Married. You're married. That's. That's part of it.

[B]

Make a budget. Use one account.

[A]

Love this.

[B]

All right, next up, Americans have $4.5 trillion in cash earning little to no interest. So we're talking between checking accounts and these savings accounts making zero percent interest. Ooh, that's a 2025 Federal Reserve data. That's legit and recent. So here's what they're missing.

[A]

I like that people have that much

[B]

cash, though, in general, 4.5 trillion.

[A]

That's a lot.

[B]

I guess we have to divide that by the number of Americans to get the real.

[A]

That's probably true. Quick math. Do your 73% math there, George.

[B]

Put the matrix numbers behind. No, I can't do that.

[A]

I know, I'm just kidding.

[B]

1,330 million. Carry the one.

[A]

Don't waste your time. Not worth it.

[B]

It's fine.

[A]

What it just means is it's a lot of cash sitting there earning no interest. So that. That is probably more than just an emergency fund. Right. I mean, because we tell people not to invest. When it comes to.

[B]

A lot of people are scared of investing and so they just keep it parked.

[A]

Yes.

[B]

Especially I found people who are a little bit older, they're a little more fe. Fearful of the market. And so they go, well, I'd just rather have it in a CD or keep it in savings. And I'm going, hey, you're missing out on potentially, you know, over 3%. Right. A lot of money with high yield savings accounts. So make sure. Oh, we mentioned Fair Wind. That's a great place to park it in that high yield savings to actually have your money grow, at least at the rate of inflation.

[A]

That's right.

[B]

Right now inflation's eating that 4.5 trillion.

[A]

Yes.

[B]

Because your buying power goes down every

[A]

day so much, George. Well, I just feel like there's a lot of things happening in the world with our money. And so having a plan and knowing what you want to do and you're not following these stats because some of these stats are encouraging, some are not. But to do what's best for you. And I know one thing that's best for me in the world today is getting my info off these crazy websites.

[B]

Something you can control.

[A]

Yeah. Delete me, you guys, is a great subscription to have because the team of real people go in to these websites that are like sketchy websites, data broker websites, and take your name off of them, because those sites will sell your information to other companies, which leads to

[B]

phishing and identity theft and targeted fraud.

[A]

That's right. And spams and scams and all of it.

[B]

So no, thank you, ma'.

[A]

Am. Take your name off the list, get it out of there, and delete me helps you do that.

[B]

That's right. And you can get a sweet discount. 20% off their annual plans. When you go to JoinDeleteMe.com smart money or click the link in the description. And that report is, sadly, something I look forward to.

[A]

I know the report, but you see the amount of hours that they work that you didn't have to do anything.

[B]

That's right. Yeah. You could try to do this all on your own, but, goodness gracious, your time is worth more than that. These people are experts in this field.

[A]

Yep. So make sure to sign [e-mail] smartmoney because it is well worth it, you guys. Well worth it. Oh, man. Well, how do you feel about the stats right now, George? What are you feeling?

[B]

I would say it's not super inspiring, is it?

[A]

Yeah.

[B]

But I will say this.

[A]

Should we go to Hawaii?

[B]

I want to go to Hawaii now. That was my big takeaway.

[A]

Me too.

[B]

I need to go to Hawaii.

[A]

I know. Sounds right.

[B]

But here's the thing. I don't think people watching need to be a part of the stat. So that's the encouraging part of just because 70% of the world or 50% of the world are doing things in an unwise way.

[A]

Yeah.

[B]

Taking on a bunch of debt, not saving the right way. This is good because it means you don't have to be a part of that stat. You can do things differently. And that's why we host this show, to show people a smarter way to handle their money. And it starts with Smart Money Happy hour. We want you to be happy and be smart with your money.

[A]

Yep. So, speaking of that, George, before we spill the tea on guilty as charge, what do you. What do you rate it? What's the drink deeds?

[B]

Let me go back to my diamond tab here. At least not room temp.

[A]

Mm.

[B]

Yeah, well, I didn't think that, but then you said it.

[A]

Sorry, I have to go 2 out of 10. I'm so sad about it.

[B]

All right, I'm gonna go three out of ten.

[A]

Okay.

[B]

Because if you weren't here, I'd be sipping on this happily. Go. Okay. It's interesting. I like all the ingredients separately. Here's what's in it. Tequila, aperol, Prosecco, and sparkling soda water, which I think soda water is already sparkling, but they wrote sparkling soda water to remind us that soda is sparkly and it comes out to $5 and 8 cents. But, yeah, if you want to find out for yourself if it's as bad as we say, three out of ten for me, two out of ten for Rachel. Collectively a five out of Ten. Still not great.

[A]

That's not the average.

[B]

The average is 2 1/2.5. Either way, it's bad. Go get the recipe in the show notes. Give it a try this weekend if you dare.

[A]

But thank you to our team who made it.

[B]

They're trying. Hey, they've had a lot of great. They've had a hot run for a while.

[A]

I know it's not their fault. I feel like it's always personal. When we give a drink rating, they're doing the most. All right, now it's time for guilty as charged. And this is where we ask each other a guilty as charged question every week. And if we're guilty, we take a sip.

[B]

All right, I'm going to ask it this time, Rachel.

[A]

Okay.

[B]

When is the last time you were enraged by a customer experience?

[A]

Oh, wow.

[B]

I don't see you getting enraged much, especially in public. You tend to be the one who. You hold it inside if you have any tension.

[A]

And I'm more like, I need everyone to be okay.

[B]

Yes. You don't want to cause a scene. That's why I'm curious. Have you ever actually been upset?

[A]

No. I have. I know I've probably used the phrase, like, I'm trying to give you money. Like, why is this so difficult? Like, I'm sure there has been moments like that. I don't. I don't know. I remember this is going way back. We're going six years. We're going Covid year. You ready for this story? This is what came to my mind. I remember going to a spa, which we live in Tennessee. So, like, everything was open during this time. And they had me wear a mask during a massage, which made sense during the time we were living in. But they were doing facials with people without masks in the room next to me. Organ facials.

[B]

And I was like, that's hypocritical, isn't it?

[A]

Well, that didn't make. It didn't make any sense.

[B]

It's not logical.

[A]

I pushed it. That's why. And so at three different times, it's like, that doesn't make sense. It doesn't make sense. How is someone literally right there getting a facial? Doesn't have Covid. You're not worried about them, but you are worried about. That makes it made. No. So that was the only time I felt like I remember. I just kept pressing and pressing. But other than that, I'm sure there's been a time, which I can't think right now.

[B]

Well, I think you're just a good person no.

[A]

What do you mean?

[B]

I'm petty on a daily basis. It's a sport for me.

[A]

I know you have good stories.

[B]

I literally have a list of, like, four things I could mention. I'll mention the most recent because it happened this weekend.

[A]

Oh, my gosh, George.

[B]

I was in a store. I was excited to make a purchase of a nice jacket. You know, I like my jackets.

[A]

Yeah, you love a jacket.

[B]

And I was like, wow, they have the one I want. It's in my size. Very exciting. It was the right price point. And I walk up to the register, and it comes up with the wrong price.

[A]

Oh, then was on the price tag.

[B]

Yeah, it was like, $27 more than was on the tag. And I went, hey, the tag says this. And she brought over a manager, like, hey, the tag. Wrong. And she went, oh, yeah, we changed our pricing. And I was like, what? And then she changed her tune and said, well, that's actually a different jacket. And it was mislabeled. And I said, well, will you just honor the price? Like, I'm trying to stay in my budget here. And she said, no, that's the new price. And I went, okay, well, I'm just gonna hold off for now. And I gave it back to her for $27.

[A]

Over $27 didn't get what you wanted?

[B]

They didn't make a sale that day that they easily could have made. I know it was 8% difference. So they were unwilling to give me an 8% discount and lose the sale. And then I went on.

[A]

Do you think they really did mislabel the jacket, though?

[B]

Did they or didn't they?

[A]

It doesn't matter to you.

[B]

It doesn't matter.

[A]

Doesn't matter.

[B]

I did go online. The jacket was more expensive. So they did raise their prices at some point. And they probably didn't update the tag. Oh, yeah, that's what happened. But I went online, and you're like,

[A]

listen, just give me the price.

[B]

Yeah, it's not that hard. But then I go to the website and I see a 10% off if you sign up for our newsletter. So I signed up for the newsletter, and it was cheaper to buy it online.

[A]

Oh, no.

[B]

Even with shipping costs. Than to buy it in their store.

[A]

Stop it. So you got a better deal. You know what?

[B]

And I bought it online.

[A]

It's rewards work right there.

[B]

I still supported that business, but based on principle, I walked out of there.

[A]

Yeah. And if they were gonna. You should have been like, pretty woman. Like, you work on commission. Big mistake.

[B]

That's exactly what I wanted to say huge.

[A]

Huge.

[B]

But it's like a local business, and they're well loved by the community, so I wasn't gonna raise a big stink.

[A]

Okay.

[B]

But it was just enough that I

[A]

went, what do you think they thought of you when you left? Do you think about that?

[B]

I'm sure they talked about. I'm sure they're like, well, that guy was a little much.

[A]

Wow.

[B]

All over 8%. Oh, my gosh.

[A]

Oh, so funny. Well, you guys, you've been sending us so many guilty, charged questions. I have, like, three right now. Screenshot that I got to send to y', all because it's like, they keep coming, which you so appreciate. So at Rachel cruz and @georgecamel, give it to us. We love hearing from you. And if you loved this episode, you're going to love Weird money habit that will make you rich. We'll put a link so you can check it out and make sure to subscribe to the channel so you don't miss an all new episode of Smart Money Happy Hour.