Smart Money Happy Hour with Rachel Cruze and George Kamel
The DUMBEST Things People Actually Spend Money On!
01 May 2025
Chapter 1: What are the dumbest things people spend money on?
Today, we're talking about the dumbest things that people spend money on. And let me tell you, there was no shortage of content here.
Oh, and there was a lot.
Everyone's got their thing. You know, some people, it's their coffee and their lattes. And this time, we're going to roast each other for the things that we spend money on that are dumb.
Okay, hold on. Let me, like, prepare my sensitive soul. Hey, guys, I'm Rachel.
I'm George.
And this is Smart Money Happy Hour. delicate clink today because this drink is very it's doing the most it's delicious well 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 money what are we what are we sipping on
We are sipping on a sparkling pear mocktail. And I can tell you right now, this might be one of the top three we've had.
It's really good.
It's unstoppable. It's a force to be reckoned with. Delicious. So stick around until the end. We're going to give you the rating and review the cost per glass at the end of the episode.
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Chapter 2: Why are new cars considered a bad investment?
But they do. Yeah, new cars.
Why do we hate new cars?
Well, because they lose so much value pretty much immediately. Like, once you drive it off the lot... 10% right there. Yeah, and then over the first year, it's like 20%. I mean, it's just... It is something that costs a lot. Right? And a new car these days, George, $50,000? I'm like... And what's wild— Totally normal for 50,000 new cars. Yes.
And cars that are not even that glamorous or crazy, that's how high they've gotten in price.
Yeah.
So again, you could buy a $40,000 brand new car. We're not even talking like luxury cars. No. Yeah. So all that to say, let someone else take the hit and just buy a two-year-old car. Or, you know, older. I think it's great.
Yeah, people here will buy a used car in cash and they go, oh my gosh, they want me to buy a $2,000 beater car from 1992? No, there's a gap between 2025 car and 1992. That's right. So buy a five-year-old car, two-year-old, 10-year-old car.
Get you a 2017. You know what I mean? Like, they're still great. They're still great cars. Now, once you have a million-dollar net worth, then if you have the money, you can buy a new car. And we say that because you can take the hit financially. Right.
It's not a big part of your financial world.
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Chapter 3: What common insurances can you save money on?
And to have it at my nightstand, like, it's just, it's an easy... In my car, I throw my purse... But don't you have, like, a purified water at the house?
You can put it in a glass?
We do have like a filter thing under the sink when we turn on our sink water. Yeah. Is that not good enough? But here's the thing. I want to throw it in my purse. I want to have it in my car. Like I want to travel with such bottle. Okay. And it needs to be closed.
It is convenient. I'll give you that.
Okay.
All right. Forget the Stanley then. Next up on my list, cable. You have like legitimate old school. You have like a dish on the roof. What are we talking here?
No. Comcast. Comcast. And I have my DVR set for the shows that I like.
You DVR shows still?
Wow.
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