Money Lessons Hidden in Your Favorite TV Shows

Summary

Smart Money Happy Hour with Rachel Cruze and George Kamel

Episode: Money Lessons Hidden in Your Favorite TV Shows

Date: November 27, 2025 | Podcast Network: Ramsey Network

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Episode Overview

In this nostalgic and witty throwback episode, money experts Rachel Cruze and George Kamel dig into classic sitcoms—The Office, Schitt’s Creek, and Friends—unpacking the surprising (and sometimes cringeworthy) financial lessons hidden in their storylines. The duo uses memorable TV moments as teachable opportunities, illustrating how common financial mistakes play out on screen—and what listeners can do differently in real life. With laugh-out-loud banter and relatable perspectives, they reveal how art imitates life when it comes to budgeting, debt, real estate, and the awkward realities of social spending.

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Key Discussion Points & Insights

1. The Office: Michael Scott and the "I Declare Bankruptcy!" Moment

• Scene Recap & Lessons
  • Michael Scott, struggling financially, shouts "I declare bankruptcy!" in Season 4 ("Money"), believing it to be a quick fix for debt.
    • Quote:

      "One of the most famous Michael Scott sayings when it comes to money is when he yelled out that I declare bankruptcy."
      — Rachel (03:30)

  • Michael takes a second telemarketing job to pay down debt, a responsible move, but continues overspending, making the extra income pointless.
    • Quote:

      "One point for you, that's no shortcut. He's doing the work and telemarketing, out of all the jobs I would not choose would hurt my heart."
      — George (04:13)

• Bankruptcy Myths ([05:00])
  • Declaring bankruptcy is not an immediate, easy solution; it remains on your credit report for 7-10 years and doesn’t wipe out all debts (like student loans or taxes).
    • Quote:

      "Bankruptcy is not a clean slate. It can't even get rid of student loans and unpaid taxes."
      — George (06:22)

• Budgeting to the Rescue ([06:37])
  • Oscar helps Michael look at his spending, revealing outlandish expenses. They stress the importance of having a buddy for budgeting.
    • Memorable Moment: Michael’s budget includes a "core blaster extreme exercise machine" and "multiple magic sets."
      — "One magic set? Beige flag. Multiple? Red flag." (07:15)
  • Practical tools for listeners: Use an app like EveryDollar or enlist a friend (or spouse) as accountability.

2. Real Estate Realities: The Office’s “Office Olympics” ([08:23])

• Adjustable Rate Mortgages vs. Fixed Rate
  • Michael nearly signs a complex mortgage he doesn't understand; Dwight intervenes with advice and a classic joke.
    • Quote:

      "'At Michael's age, he's not buying a house, he's buying a coffin. And if I were him, I'd want one with thicker walls.' It's one of the greatest Dwight lines ever."
      — George (08:48)

  • Importance of understanding mortgage terms, earnest money, and all home-buying costs.
    • "Michael didn't know that his earnest money was non refundable unless there were major issues." (09:46)
• Right Way to Buy a House ([10:14])
  • The duo spells out safe buying strategies: 20% down (ideally), or min. 5% for first-time buyers, 15-year fixed mortgage, payments no more than 25% of take-home pay.
    • Quote:

      "I know people are like, Rachel, in this economy that's impossible. It might mean you need to wait and put way more money down."
      — Rachel (10:38)

3. Schitt’s Creek: Wealth, Tax Evasion, and Out-of-Touch Spending

• Riches to Rags ([13:10])
  • The Rose family loses everything due to unpaid taxes—a manager’s fault, but also their lack of oversight.
    • Quote:

      "Keep an eye on your money no matter how wealthy you get...You have a responsibility to manage your money and know what's going on with your money."
      — George (14:20)

• Luxury Habits Die Hard (The Parisian Eye Cream) ([15:09])
  • David continues luxury spending with (his last) credit card, demonstrating emotional detachment from real spending.
    • Quote:

      "It feels like free money to a lot of people out there...it's Monopoly money, mentally."
      — George (15:47)

  • The psychology of credit card overspending; Americans’ average credit card debt stands at $6,500.
• 'Write-Offs' Misunderstood ([18:39])
  • David buys self-indulgent items for the store, believing he can “write it off”—but has no idea what that means.
    • Memorable Quote:

      "He said, 'yeah, it's when you buy something for your business and the government pays you back for it.' Like it's just some kind of reimbursement process. It is NOT that."
      — George (19:15)

  • Actual write-offs only reduce taxable income; Rachel and George urge listeners to use a real tax professional.

4. Friends: Splitting the Bill and Navigating Money Differences

• "The One with Five Steaks and an Eggplant" ([22:03])
  • The friends split into “rich” (Monica, Chandler, Ross—steady jobs) and “broke” (Rachel, Joey, Phoebe—gig work) camps; splitting dinner bills causes tension.
    • Quote:

      "Have you been in this situation, Rachel?"
      — George (22:45) "Oh, yeah, for sure."
      — Rachel (23:03)

  • Rachel and George dissect the etiquette of shared bills, acknowledging the awkwardness and need for direct communication.
    • Quote:

      "I do like subconsciously be like, okay, if everyone gets two cocktails and a regular entree, that's not like an eggplant versus steak. Right? Like if it's all pretty similar, then I'm okay saying, hey, split the bill."
      — Rachel (23:36)

• Social Boundaries & Accepting Generosity ([25:23])
  • Discussing the importance of being honest about what you can afford, accepting gifts graciously, and the dynamic between generosity and pride.
    • "As I've said before, choose guilt over resentment, Rachel." — George (25:23)
• Setting Social and Financial Boundaries
  • Not every invitation has to be accepted; setting healthy boundaries is key, even if it means the occasional white lie to avoid expensive outings.
    • Memorable Quote:

      "I've for sure done it without shame. And again, it's me setting that boundary, like, I can't just tell him no because then it's gonna be a whole thing."
      — George (34:28)

5. Bigger Picture: Why We Learn From TV ([29:05])

• TV reflects real-life money stress and missteps, making “money fails” more relatable and memorable than financial textbooks.
  • Quote:

    "Money problems are very real. And so we relate to those problems when we see them on tv, even if they're wildly exaggerated like we talked about in these shows."
    — George (29:13)

• The recurring theme? Lack of basic financial literacy leads to drama and poor decisions.
  • Quote:

    "The theme through all of this is a lack of financial literacy."
    — George (29:52)

• “Keeping up with the Joneses” is a dangerous driver behind TV and real-world financial blunders.

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Notable Quotes & Memorable Moments

• Michael Scott’s Bankruptcy:

  "Declaring bankruptcy, obviously, is more than just yelling it out loud with your voice and declaring it with your voice." — George (06:37)

• Schitt’s Creek Parental Gift:

  "The only thing they have left is the deed to a town. Which... George, this is something I learned that you would love to buy one day."
  "I want to buy a city." — Rachel & George (14:02)

• On Budget Friends:

  "If someone's not drinking and they get, like, a salad, then of course, I would expect splitting. To me, it's just common sense." — Rachel (24:07)

• Financial Illiteracy Recurring Theme:

  "The theme through all of this is a lack of financial literacy." — George (29:52)

• Social Boundaries, Guilt, and Resentment:

  "As I've said before, choose guilt over resentment, Rachel. So I'd rather feel guilty." — George (25:23)

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Timestamps for Key Segments

| Timestamp | Topic / Segment | |-----------|--------------------------------------------------------------------------------------------| | 03:30 | Michael Scott declares bankruptcy; reality vs sitcom solution | | 04:13 | Taking a second job: helpful or self-defeating? | | 06:37 | Oscar helps Michael budget: budgeting basics on screen | | 08:23 | “Office Olympics”: Mortgage mistakes & home-buying traps | | 13:10 | Schitt’s Creek pilot: Losing it all due to not paying taxes | | 15:09 | David’s Paris eye cream: The psychology of credit card overspending | | 18:39 | "Write-offs": How TV (and people) misunderstand tax deductions | | 22:03 | Friends: “Five Steaks and an Eggplant” — broke vs rich friends, dinner bill etiquette | | 25:23 | Boundaries: Accepting generosity & social spending choices | | 29:05 | Why TV money fails resonate with audiences | | 29:52 | The underlying problem: Lack of financial literacy | | 30:09 | Keeping up with the Joneses: How comparison fuels overspending | | 34:28 | Social boundaries: Saying “no” to expensive outings |

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Final Takeaways

• Be Proactive, Not Passive: Don’t let financial ignorance (like Michael Scott or the Roses) destroy your future.
• Budgeting Isn’t Boring: Even TV accountants know, “live on less than you make,” and it helps to have a buddy.
• Pay Attention to Details: Read financial fine print, whether signing a mortgage or trusting someone with your money.
• Set (and Communicate) Boundaries: It's okay to be honest about what you can and can't afford with friends—and to accept generosity with gratitude and humility.
• Run Your Own Race: Don’t mimic TV lifestyles or try to impress others with money you don’t have. Practice contentment and patience.

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Listeners’ Homework

Rachel and George encourage listeners to:

• Spot money lessons in their favorite TV shows
• Get clarity on budgeting and debt repayment
• Set social boundaries for their spending
• Learn financial basics to avoid becoming a sitcom cautionary tale

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Next Week: Leave a review or hit up Rachel and George on social media to suggest the next TV show or movie they should dissect for money lessons!

Transcript

[A]

We're talking about declaring bankruptcy and other ridiculous things that our favorite TV characters did on the Office, Schitt's Creek and Friends. This is a throwback episode all the way through. Have you been in this situation, Rachel?

[B]

Oh, yeah, for sure.

[A]

It grinds my gear.

[B]

Sorry. Does.

[A]

It was like a work dinner. I couldn't just ditch. And it was with our boss.

[B]

Hey, guys, I'm Rachel Cruze.

[A]

I'm George Camel and this is Smart Money Happy Hour.

[B]

Cheers, George.

[A]

Cheers. Hey, guys, today we've got a never before seen episode for you from the Vault that apparently we just lost in the digital world.

[B]

I know. And it was found and it was one of our favorite episodes. Cause it has to do with some of our favorite TV shows. You got a little friends. You got the Office. I mean, Schitt's Creek. It is fantastic. Now it's an oldie but a goodie. So you may even see old producer Lindsay in here. And George and I from the past. Who knows what, we probably look youthful.

[A]

We've aged gracefully, I would hope.

[B]

Absolutely. But you guys are going to love it because it's one of our favorite episodes. So here you go. This is the show where two friends who happen to be money experts talk about what you're talking about. So everything from pop culture, current events and. And money.

[A]

And today we're talking about declaring bankruptcy. Money and other many other ridiculous things that our favorite TV characters did on the Office, Schitt's Creek and Friends.

[B]

That's right.

[A]

So all of the money lessons, the money fails. And we're gonna somehow give you some money advice out of this.

[B]

Yeah. Because there's actually a lot of money references in TV shows. So this'll be a fun one.

[A]

Yeah. And diving into Michael Scott's financial decisions requires a drink.

[B]

This is so funny. Let's talk about what we're sipping on the old sugary amaretto sour today.

[A]

Yeah. And this is a well made amaretto sour.

[B]

Yeah. This is not a knock on our bartender, Michael Reddish.

[A]

Yes, it's a classic drink, but it is also the drink you get when you're 21 and you don't really want to taste the alcohol. You just want like sour juice.

[B]

That's it.

[A]

So that is why Rachel's hearkening back.

[B]

I am.

[A]

To her early days, back in the day. That was over a decade ago. We're so old.

[B]

Oh, yeah.

[A]

Do you remember your 21st birthday or anything fun like that?

[B]

Do I, I think, wow. She doesn't remember. No, not because of that. I got married at 21. So I remember more my bachelorette party. I got married at 21.

[A]

That's so crazy.

[B]

I know.

[A]

You guys were babies.

[B]

We were Babies. Winston was 23, I was 21. And yeah, so I remember more of my bachelorette party because we went to Nashville and got Amaretto sours. No joke. Had a sushi place in Nashville.

[A]

It's a throwback drinks.

[B]

That's what I always think. 21 year old Rachel. That's what I always think.

[A]

And the Office was probably on air.

[B]

Oh man, the Office. Okay. Are you a big TV watcher?

[A]

I would say I used to be more. I'm not like anti tv. I just haven't had as much time these days. But I am a huge fan of the Office. I've seen every episode. I've seen every episode of Schitt's Creek. I don't think I've watched every episode of Friends. I know you have.

[B]

Well, I'm glad I'm here for you.

[A]

You have the DVD box set still.

[B]

I do. Totally.

[A]

I don't even own a DVD player. I don't think.

[B]

I know. Well, get the Odyssey van and you'll possibly get one. Yes.

[A]

Well, if you want to know more about the drink, which I know you do, we're going to give it a rating and reveal the and give you the recipe at the end of the episode. So stick around for that.

[B]

Yes. So one of the most famous Michael Scott sayings when it comes to money is when he yelled out that I declare bankruptcy. It was season four and the episode was titled Money.

[A]

How perfect.

[B]

Uh huh. And in this episode, Michael Scott has major money problems and he's been taking care of his girlfriend Jan, financially and just generally. He's making lots of Michael decisions, if you will, about money.

[A]

It's not all doom and gloom. We learn at the top of this episode that Michael secretly got a second job as a telemarketer to help pay off debt. Which honestly big fan of that.

[B]

I know, but that's like, that's what we talk about when you want to, you know, if you're in a bad situation, up your income. And that may mean taking on a second job. So Michael Scott, I mean, one point.

[A]

For you, that's no shortcut. He's doing the work and telemarketing, out of all the jobs I would not choose would hurt my heart.

[B]

But then later in the episode we learn that he hasn't stopped going into debt.

[A]

Okay.

[B]

So it makes it a little counterproductive with the extra job he continues to.

[A]

Yeah, we talk about the Ramsey baby steps a lot on this show. And baby step zero, which doesn't technically exist, but it's kind of like, stop doing stupid stuff. Stop going into debt.

[B]

Stop going, yeah, you gotta stop, stop the bleeding before you like dig your way out. You can't like continue to dig the hole that you're trying to get out of. Right, so yeah, exactly. But Michael didn't get that. So then he gets advice from someone that he could just declare bankruptc and that just wipes out all of your debt and you get to start anew.

[A]

And he finds it sounds so good in theory.

[B]

Yeah. And in Michael's brain it sounded great. And he thought, well, that's what I'll do. I'll just declare bankruptcy.

[A]

And while it's a hilarious scene, we actually get calls on the Ramsey show. We got one the other day and this guy called in, he was like, hey, I'm 20 grand in debt, I'm just going to declare bankruptcy. We're like, no, no, that should not be your first move. And it really is like a last ditch. You cannot pay this off fast enough.

[B]

Yep.

[A]

And you know, famously, your dad, Dave Ramsey declared bankruptcy way back in the 80s with some really risky mortgage notes he had going on and climbed out of it, creating the legacy that we now get to live.

[B]

But it stays on your credit report for seven to 10 years. So it's a ding on a lot of your financial picture long term. So we always say, if you can avoid it. Out of all the calls that we've taken on the Ramsey show, I mean, I would be curious. There would only probably be a handful that was a legitimate case.

[A]

Like they might actually need to look into this.

[B]

Majority of people, it's like, no, you just gotta stop spending. You need to up your income, you gotta cut your lifestyle and you can dig it out with the resources you have today.

[A]

But it's our friend Jade Warshaw, fellow Ramsey personality, had almost a half million dollars in debt.

[B]

Yes.

[A]

And they were just, I was just talking to her, she was like, I didn't know bankruptcy was a thing back then. We just had to pay it off.

[B]

Well, and some of hers were student loans. Caus loans are not bankruptible.

[A]

Yes.

[B]

So you have to remember that too.

[A]

And unpaid taxes. So bankruptcy is not a clean slate. It can't even get rid of student loans and unpaid taxes.

[B]

That's exactly right.

[A]

This is like our debt free scream in reverse. When Michael Scott just says, I declare bankruptcy, we want you to declare debt freedom. Not I give up.

[B]

And Declaring bankruptcy, obviously, is more than just yelling it out loud with your voice and declaring it with your voice. So Oscar hears this and he thinks, I'm really going to help Michael and we're going to sit down and do a budget. This is actually a fantastic.

[A]

Don't you feel bad for Oscar in that moment, you're like this guy. He's wanting to be helpful, but it's going to backfire.

[B]

Because on the budget, Michael has some.

[A]

Of the most ridiculous line items in there, Some expenses. He has a core blaster, extreme exercise machine, a professional bass fishing equipment, and multiple magic sets. One magic set, Beige flag.

[B]

Yeah, multiple, multiple red flag, for sure. So he goes through and tries to help, you know, but again, Oscar's approach is really great. Just to be able to see what you have.

[A]

Very accountant mindset to go. Hey, maybe we should live on less than we make and have a plan.

[B]

Yeah, figure it out.

[A]

So that's what we call a budget. It's just an intentional spending plan.

[B]

Yes.

[A]

And it's just going, hey, do I have money for this? Let me make sure I track my expenses so that I can hit my financial goals.

[B]

That's right. And if you have, you know, a computer like Oscar and he's looking through kind of like an Excel, you can do it that way. We have an app called EveryDollar that We Love.

[A]

Wait, if I open Excel, my day's ruined. I'm gonna be honest.

[B]

Like, I don't want it.

[A]

I don't want it. I prefer the app.

[B]

Yep. So there's tools to help you, but also the people in your life are really big when it comes to budgeting. So sweet. Oscar was the friend that Michael needed in the moment to help him with his money. So if you're married, that's gonna be your spouse. If you're single, find a good friend like Oscar to say, hey, will you just do this with me or look over it? I've done it. I just want a second eyes. A second pair of eyes is always helpful.

[A]

Yes. And if you're married, you have a built in accountability partner for this budget committee meeting called a spouse. That's it. Get them on board.

[B]

Okay. So another episode of the Office Office Olympics. In season two, we learn that Michael's about to sign up for a terrible mortgage.

[A]

Yes.

[B]

On his. He's looking at a condo and he's about to sign it. Right. Because he's with Dwight.

[A]

Oh, yeah.

[B]

They're like looking through the condo with the realtor and he. He's about to go sign and Dwight stops him, right?

[A]

Yes. He's talking about, he's like, yeah, well I got the 30 year and the realtor's like no, 10 years fixed over 30. So she's talking about an adjustable rate mortgage versus a conventional fixed rate mortgage. And Dwight beautifully reminds him. He's like at Michael's age, he's not buying a house, he's buying a coffin. And if I were him, I'd want one with thicker walls. It's one of the greatest Dwight lines ever, where it's just a beautiful real moment from Dwight. So he didn't really understand the mortgage he was even getting into. Which sadly is like a lot of Americans.

[B]

Yeah, well in a lot of different places of money, but especially at the mortgage. I mean like when you're looking at a mortgage there's so many options. Whether it's like, you know, a VA loan, adjustable rate, balloon, there's all kinds.

[A]

Of first time home buyer programs.

[B]

There's so many things out there that are traps. I mean that's what it ends up. It keeps you in debt longer and especially if you're not able to predict the interest rate and it could go crazy, you may not be able to afford the payments.

[A]

Yeah. For those that are renting, they're like, I'm willing to do anything to get into a home. They don't realize on top of the down payment and getting the right mortgage, there's earnest money, there's closing costs, there's realtor fees. So there's a whole lot more. And Michael didn't know that his earnest money was non refundable unless there were major issues.

[B]

And he put what, $7,000 down.

[A]

He tries to back out when he hears that it's 30 year mortgage and he panics when he learns he's going to lose seven grand. So know what the terms are, read the fine print, do your research here.

[B]

Yes.

[A]

So there is a right way to get into a home.

[B]

Yeah. We talk about Putting, you know, 20% down would be ideal but we say as low as 5% if you're a first time home buyer and making sure that your payment is no more than 25% of your take home pay on a 15 year fixed rate mortgage. So that's kind of the parameters. I mean obviously the more you put down, the more wheat cheer for you here inside this building.

[A]

So I know people are like, Rachel, in this economy that's impossible. It might mean you need to wait and put way more money down.

[B]

That's right. And that's probably an honestly where we're at right now. And even as we're recording this episode, the housing market is still this like kind of crazy thing. And it's not 2019 anymore. And so that's what's, I think, frustrating about this part of life is like, oh my gosh, what I could have had in 2019. Now I'm gonna have to drive, you know, 15 extra miles away from the location I wanted to get the type of house I wanted. So there's some like reality here that we have to focus on. But the numbers are what's key and what happens is we don't want people house poor. And that, that can be really. That can happen really easily.

[A]

Yeah. We always say math doesn't change just because you live in California or New York and Rachel, I can.

[B]

Or Nashville.

[A]

Yeah. You might need to move or you might need to move further out of the city or get a roommate and make some sacrifices and change your expectations. But a big key is getting a good real estate pro who educates you along the process. And we've got a whole network of those across the country that are Ramsey trusted. And so you can jump onto our website, ramseysolutions.com and find one if you're like, I don't trust my brother in law who just got his license. Good. That's good wisdom. Good.

[B]

Find someone that's done this before. George, you know what? Products are such amazing quality and from like a fashion standpoint are on point.

[A]

That's a hard combo.

[B]

Cozy Earth, they do it. They do it. So their clothes I'm obsessed with and also their bedding, their sheets, the blankets. Y' all Cozy earth products are just. They're heavenly.

[A]

Tres magnifique, I think is what they say in France.

[B]

Yes.

[A]

And they're new soft wash cotton sheets. I have them in driftwood. I'm really branching out with colors.

[B]

Oh, my gosh.

[A]

But they slay. Are we still doing sleigh? I'm being told we're not doing sleigh.

[B]

Oh, we're not. Sleigh.

[A]

That's the word though.

[B]

I just think cozy earth sleighs a.

[A]

Sleigh, you know, especially as we head into the holidays.

[B]

Yeah. Oh, Santa sleigh. Hopefully Santa sleigh is carrying some cozy earth for you. Because for real, when you wear the stuff, like when you wear the shirts and the socks and the pants, like this is winter.

[A]

When you lay on it, when the.

[B]

Blanket lays on, you cuddle up like you are in winter. This is winter. And cozy earth is giving 40% off. You guys, their discount. So make sure to check it out.

[A]

Yeah. And this deal is only November 27th through December 2nd. So don't get mad if it's not there. If you're not within those dates. So go check it out. While you can start your holiday shopping today, just go to cozyearth.com smartmoney and use the promo code smart money.

[B]

Okay, next show. Hilarious show. Schitt's Creek. It's like one of my face. It kind of has a special place in my heart. I think it's one of the funniest, funniest shows. So the whole premise is basically this really wealthy family has not paid taxes in what, like over a decade or so. I mean like, I don't know how, I don't know if they say the time, but they had a person helping them.

[A]

Their family. Business manager.

[B]

Business manager.

[A]

And they didn't know that this was even happening. They thought they were fine.

[B]

That's right.

[A]

So the IRS agents show up.

[B]

Yep. Show up and start confiscating everything. And so Moira's like grabbing her wigs and like everyone's freaking out.

[A]

It's chaotic. It's the best pilot episode I think I've seen of television.

[B]

So good. So then they have. The only thing they have left is the deed to a town. Which. George, this is something that I learned that you would love to buy one day.

[A]

I want to buy a city.

[B]

If you had, if you won the lottery. And it was a town called Schitt's Creek that he had purchased for his son as a joke for like a birthday.

[A]

Yeah, that was a birthday gift.

[B]

So it was the only thing that they had left. So they had.

[A]

It's such a great like rich person birthday gift. You know what I mean? Like it's such a great piece of the plot that he bought his son a city.

[B]

Oh, Schitt's Creek.

[A]

So here's the key. Keep an eye on your money no matter how wealthy you get. And we hear actual real celebrity stories where they're not aware and they're like, I didn't know my accountant was doing this. And embezzling money. You're not paying taxes. You have a responsibility to manage your money and know what's going on with your money. Regardless of who's on that team.

[B]

That's right.

[A]

And pay your taxes. You're not gonna get away from the irs.

[B]

Yeah. And be honest there. I feel like that is a place people like are like, oh, can I like, you know, do this? Just pay em. Like we all don't like them.

[A]

It sucks.

[B]

But just be honest. Okay. Have a moral compass about that so you don't get in trouble.

[A]

I always get a little bit leery of hiring, like, friends and family and doing business. Like, mixing all that together can be difficult. Yes. So be careful who you hire. Just because they're a friend doesn't mean you should trust them with your millions of dollars in assets.

[B]

That's right. That's fair. Okay. On Schitt's Creek, there was another episode where David. They're broke, obviously, but he went and bought this expensive eye cream from Paris. The whole idea is that he charged very expensive eye cream to a credit card.

[A]

That it was, like, the only thing that still worked to get the money because they're so broke. And he's like, my card still works.

[B]

But my card still works. And, like, the idea that you have to pay a credit card bill was, like, beyond him.

[A]

I had no idea.

[B]

Beyond him. Because, again, they're this wealthy family, entitled privilege.

[A]

He's never had to pay for anything in his life. You have to pay this off.

[B]

So it was a whole.

[A]

It feels like free money, though, to a lot of people out there.

[B]

Yes.

[A]

It's a great piece of the plot, but a lot of people. It's Monopoly money, mentally.

[B]

Yeah.

[A]

And they're like, well, I'll have money eventually to pay this off. It'll be fine. Or I'll carry the balance and eventually get rid of it. But that interest rate will crush you. We're talking, like, 20, 22% APR on these cards.

[B]

Yeah. And, you know, $6,500 is, like, the average that Americans carry around. So, I mean, that's. I mean, $6,500. That's a lot of money. $6,000. So it's a real thing. And again, there's studies that have been shown that really, your brain does disconnect when you use a credit card because it's someone else's money. And there's a true emotional disconnect there.

[A]

There was a new one from Harvard that used, like, crazy FMRI technology. A newer study in the last year or two. And they found that not only does it kind of release the brake when it comes to spending, it also hits the gas pedal. So it's both ands. Isn't that crazy?

[B]

You know, I know myself well enough. I would be a nightmare if I had a credit card. That's true.

[A]

Everyone thinks, like, well, Rachel, I'm responsible.

[B]

I'm already like, a cart. Yeah, throw that in, too. I'm like, already that's my like knee jerk reaction is to always just add more. Like that's.

[A]

Yeah.

[B]

You know, so if I had a credit card, I would be a monster. It would be terrible.

[A]

Well, and if most people were honest, they would say what you said. But most people we talk to, they're like, Rachel, it's not just not responsible. I pay my card off every month. And I'm like, are you hitting all your financial goals or your net worth where it should be? No. Because you're overspending. And as long as you pay off your card every month, you think you're winning.

[B]

That's right, that's right.

[A]

Just to get your 2% reward. So play stupid games, win stupid prizes. I stick to a debit card. That's. Sure. Yes. That's where I was going with that. She didn't invent it, but she did make it popular again among Rachel + Gen Z. Gen Z. There we go.

[B]

And something else, George, that I think we all need in this year and the coming years is delete me 100%. It's incredible. Like when you can remove your address, your cell phone number, your kids names, I mean all of it. Because if you leave your information out there, your email and cell phone, it is like anyone can get it. Anyone can get it. And so you want to protect your family's privacy and delete me helps you do that.

[A]

Yeah. The more and more we become an online society, the more and more a tool like this is necessary. So this is not a frivolous entertainment subscription. This is a must have in your budget. And luckily for all of our fans out there, they're giving them 20% off the annual plans.

[B]

How nice.

[A]

Just go to JoinDeleteMe.com smart money to get that offer and then you'll sleep better at night for sure. Knowing that your family's protected, that their address, their name, the email, it's not going to be out there among these data brokers.

[B]

And what's crazy is the data brokers actually will sell your data and make money off your data. And so we don't want that. So again you guys delete me. It's a subscription we all need. And then another great episode was the write off.

[A]

So good.

[B]

And so David, he starts work at Blouse Barn, a small clothing store.

[A]

You worked at what store? What was it called?

[B]

Libby Lou. We didn't.

[A]

Very similar to Blouse Barn.

[B]

And he decides, he hears that you can like buy stuff and write it off for the business. So he goes and buys this, all.

[A]

This ridiculous stuff, plush bedding, skincare products, a massage chair.

[B]

Yeah, all this stuff. And he's telling his dad, he's like, yeah, but I can just write it off. And he's like, you can't just write. I mean, that's not.

[A]

You don't even know what a write off is.

[B]

It's not how it works. Well done. Good impression.

[A]

Thank you.

[B]

He's like, I don't know. It's the write off people that's who does it.

[A]

He said, yeah, it's when you buy something for your business and the government pays you back for it. Like it's just some kind of reimbursement process. It is not that it's a business expense used to reduce your taxable income, which is very different. So anytime someone says, I'm doing it for the write off, I immediately write them off. Because their cornbread ain't done in the middle. Rachel. As we say in the South.

[B]

George.

[A]

I'm just saying.

[B]

But if it's like a very. Like a vehicle for a business writing it off. I mean, there is a.

[A]

Sure. But people will go out and buy a Mercedes g wagon for $160,000 because they're like, well, Rachel, it's free.

[B]

I can write it off.

[A]

It's free money. I'm like, no, you're an idiot.

[B]

I know, I know.

[A]

Yeah. Work with a tax pro if you plan on doing any of this because you will screw it up.

[B]

Yes.

[A]

So you've got to know exactly what is production.

[B]

I mean, there's a lot of. Yeah, there's a lot of intricacies to.

[A]

The tax, and you want to have a strategy around it, make sure you're doing it the right way to maximize. Like, I'm all for you paying less taxes legally.

[B]

Yeah, but don't just buy stuff. That's right. Don't use it as an excuse to buy stuff.

[A]

Can you do the Ew, David.

[B]

Oh, man, I wish I could. Let me see. Lindsay, you go. Can you do it? Okay, let's see.

[A]

Let's see who does it the best. People love this. This is like the British accent.

[B]

Eat, David. Ew, David. Eat, David. Eh, David. That's my best friend.

[A]

That was the best. And we want.

[B]

Eh, David.

[A]

Okay.

[B]

Hey, David.

[A]

All right, go.

[B]

You go. All right, Alexis.

[A]

Ew, David.

[B]

Hey, David. No, I think me and Rachel.

[A]

David.

[B]

David.

[A]

Ew, David.

[B]

David. Ew, David. David.

[A]

We'll edit this part out. Nobody wants to hear this. I was just curious. I was just curious.

[B]

So.

[A]

Good. All right, moving on to, I guess your favorite show of all time.

[B]

Yeah, George. I would say it is. I've watched every single episode multiple times. Can probably quote it.

[A]

Wow. Favorite character.

[B]

So funny. I'm like. I'm between, like, a Rachel. Monica.

[A]

Oh, yeah, that's interesting.

[B]

They're funny. Joey Swank. Chandler is probably the funniest.

[A]

He's like, the quickest, the wittiest.

[B]

Yes.

[A]

Joey's kind of the slapstick, lovable guy.

[B]

Yeah, totally. Ross is kind of the nerdy humor.

[A]

I'm probably more like a Ross, but I aspire to be more of a Chandler.

[B]

Yeah, you're more. I know you well.

[A]

Yeah, I'm too, like, OCG and in my own head, like, neurotic. I feel like Ross got that.

[B]

You have a lot. Yeah, you have a level of Ross, for sure.

[A]

But also, he's very, like. He's one of the more logical ones too.

[B]

Very, very smart. Yeah.

[A]

Credit to Ross. So some great episodes. We could go all day, but we've chosen a select few. The one. I also love that they named all the episodes. The one with.

[B]

Yes. The one with.

[A]

The one with five steaks and an eggplant. Yes. So this episode really separates the rich friends, Monica, Chandler and Ross from the broke friends.

[B]

Yes.

[A]

Rachel, Phoebe and Joey.

[B]

Yes.

[A]

Never thought of it that way, but it kind of. It tracks.

[B]

Oh, yeah. Yeah. Cause Chandler has, like, a corporate job. Monica's a chef through most of it. Ross is a paleontologist and has a PhD and so he teaches at the university. So, like, pretty solid careers. Rachel at the beginning. Waitress. Phoebe, a masseuse. A masseuse. And Joey, an actor, trying to make it. So, yeah, it was like trying to land gigs. Yes. It was kind of the split.

[A]

Well, the tension builds at the celebratory dinner for Monica's promotion. And the bill comes and Ross tries to split it evenly among everyone. Rachel, Phoebe and Joey are upset because they hardly got any food and they make less money than Ross, Monica and Chandler. Have you been in this situation, Rachel?

[B]

Oh, yeah, for sure.

[A]

It grinds my gears.

[B]

Okay, well, let me say this. Normally, if we go out to dinner with people, I love appetizers. That's like my number one love. So I will order and I will say to the table, hey, I'm gonna. I'm gonna get two appetizers for the table.

[A]

That's nice. So you're saying out loud, hey, this is on me.

[B]

Yeah, this is on me. Like, I just want us to enjoy it. Like, don't worry, you know? And then everyone kind of gets their meal. And I kind of. I do like Subconsciously be like, okay, if everyone gets two cocktails and a regular entree, that's not like an eggplant versus steak. Right. Like, if it's all pretty similar, then I'm okay saying, hey, split the bill. Just put the apps on our tab.

[A]

Oh, do you know what I'm saying? Are you making the decision for the table?

[B]

I feel like usually it's like people start talking, and it's like, hey, we can just split it.

[A]

Well, you're the kind that takes control of the situation. The waiter comes over, Rachel's like, hey.

[B]

Here'S what we're going to do. Here's our organic.

[A]

Exactly.

[B]

But if it's a very obvious, like, someone especially, I mean, and I'll be honest, the alcohol, that adds a lot of money. So if someone's not drinking and they get, like, a salad, then of course, I would expect splitting. To me, it's just common sense. Yeah, you kind of gauge it. So if we went out with you and Whitney, and I said, yeah, let's take the.

[A]

That's tough.

[B]

Let's take the fried. You know, if it was just the.

[A]

Four of us, it's Rachel, Winston, George, and Whitney, I'd be okay with it. But usually it's like eight to 10 people, and I'm gluten free.

[B]

Oh, see that?

[A]

I can't even touch the apps. And they're like, hey, you guys good with just splitting all this? I'm like, I didn't get to eat. Like, I couldn't eat any of this. It feels unfair for me to just foot the bill. My portion for food I didn't eat.

[B]

Do you feel different with so, like, you and you guys and a couple versus.

[A]

Yes.

[B]

Okay.

[A]

And you know what?

[B]

I would agree with that. We don't go out with groups very much to restaurants.

[A]

Well, still waiting on the invite from Rachel and Winston.

[B]

Hey, we saw you at a restaurant, like, two weeks ago, and Winston was like, george, come hang out at our table.

[A]

It was like a work dinner. I couldn't just ditch. And it was with our boss. That's a bad move.

[B]

Your two bosses. You like your. I know. It just made us laugh.

[A]

We had a good time.

[B]

I was like, listen, he's inviting you, George, this is your chance.

[A]

We did have a great moment there. Well, sometimes you have to say no to things and set those boundaries, and it's awkward, it's uncomfortable. But as I've said before, choose guilt over resentment, Rachel. So I'd rather feel guilty.

[B]

Tattoo that somewhere.

[A]

I really should. If I was going to get one. That would be a good one. Cause I'm an enneagram too. The helper. And so it's easy for me to get resentful.

[B]

You need it, George.

[A]

Because I'm not good at sharing my boundaries and what I really think, what I need.

[B]

It's very important.

[A]

Yeah. There we go. That's my thoughts and feelings. So afterwards, as a nice gesture, Ross, Monica and Chandler, the rich friends buy the whole group tickets to Hootie and the Blowfish for Ross's birthday. But Rachel, Phoebe and Joey, the broke friends, don't feel excited or happy. They feel small and a little bit offended by the gift.

[B]

Yes.

[A]

Which I would have just accepted the generosity at that point.

[B]

Well, it's become a theme, which is obviously part of the episode. I don't know. I probably have a little bit of pride where I'd be like, I'm sorry, I'm fine. I don't know. I could see.

[A]

I understand why they feel a little bit of shame. But it's more on them to feel the shame and guilt at that point.

[B]

For sure. Yes. Yes. Because I think there is a part two that it's like. Yeah, you have to be able to say no to a situation. Like if someone is going to a concert and you can't afford it, it's like, you have to learn. But if they do say, hey, I'll get your ticket.

[A]

Yeah, I'm gonna accept that generosity. And Chandler does call out that the broke friends are making themselves feel small. Which I think is a good reminder. It's a tough pill to swallow, but we actually get to decide our attitude, our reactions.

[B]

Yes, But I would say, do you think the attitude of the giver is different? Like, you're a very kind person, George. Very authentic and real.

[A]

Thank you.

[B]

But what if there is kind of a jerky and they're like, I'll get you. You know, and it's a belittling or something, then I'm out. And why you would be friends with that person anyways is a great question.

[A]

Yeah. I would ditch them as a friend. Most people that have been that in my life where, like, they have more money and they just love to go out and they love to be generous.

[B]

Yeah. And they're like, well, just.

[A]

I happily accept it and I'm very grateful. And I make sure they know that.

[B]

Yes.

[A]

And I don't take advantage of them. So there's a balance there.

[B]

I agree. I'm with you. I'm with you. So one thing that's really important is that your bank actually aligns with your goals when it comes to your money. And that feels impossible, George. Right.

[A]

Does. The financial industry is riddled with a lot of bad actors and banks that don't want to see you win.

[B]

No. But that's where Fair Winds Credit Union comes into play. And they're incredible, you guys. They have set up so many things for us as Ramsey. If you're a Ramsey listener or Ramsey fan, they literally want to walk beside you during the baby steps. They want to cheer you on. They want to celebrate you. And there's just something about having a bank on your side when it comes to you winning with your financial goals. It's just not out there. But Fairwinds makes it happen.

[A]

Absolutely. They really are. You know when you say they're not like the other guys, they're truly not like, I. Can I show you when I signed into their app, what I saw?

[B]

Yes.

[A]

Like, under the tool section. So, you know, you go to your banking app, you're like, da, da, da. Okay, I can check my account balance. When you go to the tool section, Rachel, let me tell you what I found there. Ready for this? Go under more. The first thing I see. Journey to financial freedom. They have tools for money. Milestones, savings goals. Goals and budgets. Debit rewards, Debt Snowball calculator. This is amazing.

[B]

We love it. Yeah. So you guys make sure to check out Fairwinds so you can put your money somewhere safe and with a credit union that is for you, not against you. So you can go to Fairwinds.org Ramsey and sign up for the Smart Checking and savings bundle today. Oh, man. George, There's a lot of good. There's so much more we could have done, too. There's, like, so much we're scratching the surface. Money, content out there on tv. And some good lessons to learn more than ever.

[A]

Cause I think more and more people, it's kind of fun now to talk about money and talk about how we're all broke. So shows are kind of making that part of the plot on it.

[B]

Yep.

[A]

And there's some tension. I mean, money problems are very real. And so we relate to those problems when we see them on tv, even if they're wildly exaggerated like we talked about in these shows.

[B]

Yes, I know. So good, though.

[A]

What can we learn from all this? Rachel? What are the big takeaways here.

[B]

From? Yeah, I mean, I think the Friends episode specifically, I think you have to know ahead of time when you go into a social situation. How are we gonna handle this? I think as much as you can prepare and things. That's helpful, I would say. Yeah. With Schitt's Creek. Just know the basics. You know, Know the basics.

[A]

Financial literacy, if you're a. Yeah.

[B]

Financial literacy.

[A]

Understand how credit cards work and mortgages and write. The theme through all of this is a lack of financial literacy.

[B]

I would say that. Yeah. And Michael Scott, I would lump into that bucket, too. So just continue to learn, which is why you guys are listening to this podcast or watching on YouTube. So we applaud you.

[A]

Way to go.

[B]

Continuing to learn, as are we. So.

[A]

Well, another theme is just Keeping up with the Joneses. And you talk about this a lot in Love youe Life, not Theirs. Your book where it's just half of these decisions are made because we're trying to, like, impress people that we don't even like with money we don't have. And we just have to set those boundaries and have some delayed gratification.

[B]

And I think even more recently, it's not even necessarily that people are like, oh, I need to, like, for them to think that we are successful. Or maybe there's probably still some of that. But it's also like, well, everyone else is doing this, so this is what we should be doing. It's like this.

[A]

Like, we've just normalized stupidity and debt.

[B]

Yeah. Just normalize a certain lifestyle and you expect to get there. And if you can't, you just go into debt for it.

[A]

Just shortcut it.

[B]

Because it's. Yeah. Because that's it. So that's part of the Keeping up with the Joneses thing. That's very real. So don't do it. Yep. Run your own race, people. Run your own race.

[A]

Listen to Rachel.

[B]

Who finished this for sure? George finished. This might be one of the first times that you actually.

[A]

Maybe I'm an amaretto sour guy now.

[B]

Wow. It was too sweet.

[A]

Well, my first drink when I was 21 was a whiskey sour. Like, that was kind of like. It was cool, but it also tasted like lemonade, you know, so you could get away with it.

[B]

Cause a whiskey sour sounds better than an amaretto sour.

[A]

Amaretto sour. It just sounds more feminine. And so when you're with the Bros at 21.

[B]

Yeah, it's just a whiskey sour.

[A]

Whiskey sour, bro.

[B]

Whiskey sour.

[A]

And it's just, like, gross sour mix with, like, you know, whiskey. Disgusting.

[B]

Oh, good.

[A]

But here we are. I finished first rating. I'm going to give it a 9 out of 10.

[B]

Wow.

[A]

I think it's. As much as I want to, like, make fun of it, it's A delicious, perfect beverage if you like sweet and sour.

[B]

I know it's not my thing, so I'm be honest. I, like. Yeah, I'm going to. I mean, I'm going like. Like. And again, I rate these to think if I'm going to go out to dinner, like the bee's knees. Like, we've had a few cocktails that I've actually ordered out because they've been so delicious here with, you know, with you, George, and the team on set.

[A]

Lot of disclaimers.

[B]

I'm not. Yeah, I'm not ordering it. So I'm gonna go. I'm gonna go. Maybe if it was, like, a throwback to, like, if all my friends. If we all, like, wore our wedding dresses.

[A]

What are you rating it from the heart. From the heart.

[B]

I'm gonna go two and a half out of ten. That's the real. That's what we needed.

[A]

That's the lowest rating. I think that's the. We did a negative. I think I did a negative. Something for one of those that tasted like bile. The rosemary.

[B]

Because I am awful at everything that I do with Nate.

[A]

That was the lowest for me. This might be the second lowest drink you've rated.

[B]

Yeah, I didn't like it.

[A]

Wow.

[B]

It's fair. I didn't make this one.

[A]

No fault. To our mixologist and friend, Michael Reddish.

[B]

No.

[A]

Because it's a perfect amaretto salad. But it's just not for Rachel.

[B]

It's just this. Yeah. I would never order that at a restaurant.

[A]

Old habits die hard. There you go. Well, hey, if you want to try it at home, because I gave it a nine out of ten. You gave it two and a half. I know.

[B]

I'm shocked.

[A]

See how you like it. Go make it at home. It's got amaretto bourbon, lemon juice, simple syrup, and an egg white. And it comes out to $3.80 per glass. And we'll put the recipe in the show notes.

[B]

All right, George. Well, it's almost the end of the episode.

[A]

Boo.

[B]

And we close out every episode with guilty as charged. And this is where our producer, Lindsay, gives us a new guilty as charged question every week. And if we are guilty, we have to take a sip. Lindsay, what is this?

[A]

Do you get nervous about these? I kind of get nervous about them.

[B]

I love them. I can't wait. Because they're always so good. Oh, wow.

[A]

You better have a good one today. I know.

[B]

I'm like, I have backups. I literally have backups in case you're like, no. Pressure's on. Have you Ever pretended to be sick to avoid going out with friends or family and spending money. It's like, you didn't want to spend money, so you pretended to be sick to avoid spending money with going out with them. Does it make sense?

[A]

Yeah.

[B]

I cannot think of a time. I feel like if I'm invited to.

[A]

Go hang out, I'm like, rachel loves going out.

[B]

I'll get chips and salsa and water. Like, if I can't, like, you know, I'll go as cheap as possible to be with the people I know. It's so hard.

[A]

I'm trying to hearken back to those days when I was in debt, trying to pay it off, got invited. I mean, I didn't have a lot of friends at the time, so. Yeah, but it's definitely happened where I've made up excuses that maybe weren't the full truth, and some of those were, hey, I'm not feeling great. You guys go on ahead without me. Like every man for himself.

[B]

Tell me this. Would you say, I'm not feeling great or just, I'm tired?

[A]

I think my friends.

[B]

I think I would pull the tired card over the I'm sick card.

[A]

I don't think my friends would have bought that. Like, I'm just tired.

[B]

Oh, really?

[A]

I think it's just kind of like, I'm not feeling great. That could be in a lot of things. You could lump tired into that legally in a court of law. So I can't remember a specific experience, but I've for sure done it without shame. And again, it's me setting that boundary. Like, I can't just tell him no, because then it's gonna be a whole thing.

[B]

Yeah.

[A]

Come on, bro. You know, I have very bro y friends, as you know.

[B]

Yeah, you and the bros. Whenever you talk about the bros, we.

[A]

Go and watch the big game, Rachel. We go to a Buffalo Wild Wings.

[B]

You know, watch the pigskin, you know, being thrown around the field.

[A]

When's the last time you went to the big game?

[B]

Go sports to a football game. I mean, it's been probably a year or two. We used to go all the time to Knoxville and go to the UT games.

[A]

Well, if you invite me, I will fake sick.

[B]

Have you. Have you ever been to Neyland Stadium?

[A]

No, I've never been to. I was going to say I've never been to a football game. I have officially actually been to one, whether it's high school, college, NFL. George, I've been to one game in high school.

[B]

You didn't go to any football games?

[A]

No.

[B]

Really? Like, I knew you were a skater.

[A]

Kid, but, like, yeah, that's exactly why.

[B]

But you didn't go to, like, we.

[A]

Were, like, anti establishment uniforms, jerseys.

[B]

What football game have you been to?

[A]

I went to a Titans Patriots game.

[B]

Ooh, that's a great question.

[A]

Because I'm from Boston, so I thought this is the game.

[B]

Okay, you need to go to. You and Whitney and little Mia. You need to go to Knoxville, and you need to go to an sec. Tennessee. Like, Alabama. Like, you need to go to, like, the heart of the South.

[A]

I think I have, like, sensory issues. I don't know that I can handle it.

[B]

It wouldn't be good.

[A]

Just so much yelling and screaming.

[B]

So much. It's so much and strange. 109, 000 people.

[A]

I will for sure fake sick for that. Even if you covered the entire bill in the drive or the flight.

[B]

Say it all. Oh, my God.

[A]

But I would go if Winston and I did, like, the full body paint.

[B]

Like, did something big. Did something big.

[A]

I'd have to, like, have a real big reason. Like, Winston needs me. He needs me.

[B]

I'm on the road.

[A]

I need to be needed.

[B]

I'm on the road. You are such an Ingram, too.

[A]

So there you go. Would I do it? Yes. Have I done it? Yes. And to that I drink.

[B]

Yeah. I think I'm innocent. I think I'm innocent here. I really can't. I think I would go and get a water. I really would. I would go for the social. I don't think either of you are innocent, though, of like saying you're tired or you're sick to get out of here.

[A]

Well, Rachel's good about setting boundaries, so if she just doesn't want to go, she'll just be like, no, I'm tired.

[B]

It's kind of true.

[A]

She's healthier than me. I will make up an elaborate excuse.

[B]

Now we know we get an elaborate excuse.

[A]

I'll put the thermometer in the oven just to, like, fake a fever.

[B]

Oh, my gosh.

[A]

I'm just kidding. I've never done that, guys.

[B]

Lord help us.

[A]

So great.

[B]

Well, it's closing time, George. That was fun, you guys. Thanks for watching and listening today. If you want to hear more of this, make sure to subscribe and leave a review.

[A]

It's always maybe put in the review. What shows you want us to cover next on these TV money lessons.

[B]

Really? An idea, actually. Give us the ideas. We like hearing from you guys, even on social media. We'll go on social, like, on Instagram, ask you guys some questions. And y' all are just fantastic. So we really love hearing you guys to be part of the content of the show. So make sure to do that. Leave that review, let us know what TV shows we should and keep posting about.

[A]

I love seeing people tag us and post and they're like, it's a date night. They're making drinks at home, their kids are listening. 70 year olds love it. I mean, we made a show for everyone, Rachel.

[B]

Somehow I hope. I hope.

[A]

Yep. And so we love making it for you guys. So thank you for listening.

[B]

So make sure to again, subscribe so you don't miss a new episode every Thursday of Smart Money Happy Hour.

[A]

It.