I'm Addicted to DoorDash

Brought to you by Chom, a budget friendly, faith-based alternative to health insurance. ch ministries.org/budget. >> So, how do I stop spending everything I make so I can start reaching financial goals for myself? >> Oh, interesting. What are you spending money on? >> Well, honestly, um, mostly Door Dash. Um, but then just random stuff. Like I always find a way, no matter how much money comes in the paycheck, to spend it all. >> It's fair. >> Love will find a way. Have you thought about uh like deleting the Door Dash app and forcing yourself to go inside of a grocery store? >> Yeah. Well, I actually didn't. I did that like two days ago. Um and like you said, love will find a way. It's just like a creeping addiction, you know? >> So, you see like the zucchini you bought 3 days ago and you're like, "Ah, Door Dash sounds better. I'm redownloading it. >> Oh yeah, >> like going back to an abusive ex >> to a zucchini. Why don't you at least say like >> Well, we all aspirational grocery shop, you know what I mean? We're like, you know what? I'm going to eat a zucchini. >> I'm going to eat a whole bag of spinach. >> I saw a good Instagram air fryer zucchini recipe. I'm going to >> thing of spinach. >> Well, Gabe, here's the thing. What are your financial goals? Cuz I think they have to be big enough and powerful enough to fuel your love of Door Dash to stop that. >> Yeah. Well, first is get a car. Then after that, a house and then after that crack a million marks in net worth. >> Love it. Those are great goals. >> Okay, >> that's the American dream summed up. >> What are you doing for a living right now? >> Uh, right now it's not good. I'm actually um working for the master I feed. I door dash a lot for my question. >> Wait, what? >> Well, no wonder it's easy cuz you're around it all the time. Like this Taco Bell. >> Wait, do you drive for Door Dash? >> I'll pay myself to do it again. >> Okay. You're not working for like Door Dash corporate. You're like a >> No, he's a Door Dasher. He's >> Okay. How old are you? >> Running around food for people. >> Yeah. >> How old are you? >> I'm 20. >> Under 20. Okay. >> Are you in school? Did you not go to college? What happened? >> Yeah. Well, I'm in school for business management right now. >> Okay. What do you want to do with that? Well, um, ideally, you know, um, get a short-term management job to kind of build up a nest egg and then go out on my own and >> try my hand at the entrepreneurial. I can't talk. >> Yeah, you're good. >> So, you want to work in management of something like is it retail? Is it corporate? Have you sort of drilled down into that to what you'd be most into? Yeah, I'd be most into corporate, but obviously if someone offers me a job paying more than Door Dash does, I'll take it at this point. >> Have Okay. How much longer in school? >> Yeah. When you graduate? >> Uh, I'm expecting next summer. >> Okay. >> Cash flowing it or are you going to debt? >> I'm cash flowing it. >> Great. >> Do you have any debt? >> I have $200 in credit cards. >> Okay, we got that. It's good. Um, okay, Gabe, you know what I'm going to say? You're I'd say you're a typical 20-year-old guy. I don't think there's anything wrong with you. I think you need a little bit of motivation. Um, and I think when you're in school, you have a part-time job. Um, you know, you got to just float your expenses. I mean, are you living at home? How what what are you doing like for rent and all of that? >> Yeah. No, right now I'm living at home, which probably doesn't help the spending, but >> Yeah. Well, it's fine. I mean, you're in college. I think that's totally appropriate. Um, so what do you have to pay for? What are the things that are you're responsible for? >> Uh, right now it's just my phone and gas. >> Phone and gas. Okay. >> And what are you making every month? >> Uh, naturally it varies, but it's usually about two grand a month. >> Okay. Okay. >> Because if I'm you, I have very little motivation to even go work when my only two things I need to survive is covering a phone bill and gas. >> And because you're a full-time college student, so you're in co you're you're in college. Um, which I don't think is bad. >> Yeah, that's great. You're in college, you're doing well in your classes, you're gonna graduate on time. >> So, I think the best thing for you, Gabe, honestly, right now, is to work on your habits. And you need to start creating some new financial routines. >> And so, you can do this. You can even automate some of this. I don't always recommend that for people because I kind of like people's behavior to change because they're actually the ones doing it. But for you, I would almost say, yeah, make make it a goal where you save, you know, half of that. Maybe you save what if you saved $1,000 a month cuz how much does your phone and gas cost? >> Not much. It usually shakes out to around 3400. >> Okay. So, yeah. What if you gave yourself 600 bucks to spend on how you want and then save half of your income and you do that for the next golly six months, you'd have $6,000 when you graduate. That'll help you upgrade a car and actually start moving. But, but you can even go in and automate some of this. like you can, you know, set up some systems in place with online banking and that kind of thing that when your paycheck hits, um >> it's like pay yourself first. >> Yeah, absolutely. I'd be giving some too. I think there there's a practice of generosity in there. Give um you know, it's ever how much you want, but even 200 bucks a month, practice that part. Practice the saving part and then you can still enjoy some of it. So, I think you're in a good spot. I think it's just the habits and the routines uh monthto month that you need to change. And when you kind of get those in place, you start to be disciplined. you start to know what you're doing. You're telling your money what to do. And then when you graduate and you get your first job, those habits just go in from a $2,000 a month um to maybe a $5,000 $6,000 a month salary. And you know, you've you've changed the way that you handle your money. Literally, your behavior changes. >> Okay. >> I was exactly like you, Gabe. I'm looking back at when I was >> You were not that much of a spender. >> No, I But when I was living at home, I was working in the Apple store. >> Yeah. And every paycheck would just go to like gear and just spend. I didn't I wasn't saving any of it. >> Well, because there's no urgency. >> Exactly. I was living at home. And so I just I remember feeling that way, Gabe. And what unlocked it for me was getting out of the house. I moved across the country, started fresh, finished school, and that sort of put a new pep in my step to go, listen, mom's not going to save you with her home-cooked meals. I don't think you got to move out, though. Do you >> I'm saying once he graduates though, he should just go ahead and find an actual job. >> Natural. Don't stick around home saying, "Well, I could save up for a house faster." And then all of a sudden, you spent 500 bucks on Door Dash. >> Yes. That's right. That's right. Yeah. So, when you graduate, you need to move out. That needs to be >> create some problems for yourself cuz we are wired to solve problems. And right now, you just don't have many, which is not a bad thing, but if you want to accomplish your financial goals, you kind of need to have some some uh you know, some mojo. And right now, it's hard to have that when mom's folding the laundry. >> Uh, Gabe, what kind of car do you have right now? Well, right now I don't have anything. I'm driving my dad's for Door Dash. >> Oh, whoa. How does he feel about that? >> He feels fine about it because he does it part time, too. So, you know. >> Okay. >> He doesn't really mind. >> Okay. Well, I would make that a goal then. I think that's a great You said that, but I would re Yeah, I would reiterate. Yeah. If you And if you saved $1,000 a month, Gabe, I mean, you could have a $6,000 car in six months. You know what I mean? like it. >> Do you have a high yield savings account, Gabe? >> Yeah, I do. Um I'm shopping around for another one cuz I'm not a fan of the one I have. >> Perfect. We got just the one for you. Go to fairwinds.org/ramsey. They just created a new bundle for our fans. It's got a great high yield savings account. And so you can actually attach your checking and savings and then start to automate that thousand bucks a month to just go straight from checking into that high yield savings. And like Rachel said, if you automate that, you'll just pretend the thousand bucks never existed. So, pretend you make a,000 bucks a month and now we have to work live off of that. That helped retrain my brain as well. >> Okay. >> Yeah. Make sure to check that out. And you'll get the Ramsay debit card with that bundle. >> Oh, yeah. >> And it says debt is normal. Be weird. You're not deeply in debt, Gabe. But at least you kind of get that reminder. Yeah. Every time, >> especially as you enter adulthood, it's so easy to be tempted to take out the car loan, open the credit card, go into debt, >> take out the personal loan, whatever it is. And so this will help you avoid that temptation. But >> yep, for sure. >> This is very natural. You're 20. You're not weird. You're just 20. >> Yep. Just put some disciplines and new habits in place. I think you're going to be fine. But George Camel a spender. >> What can I say? Left to my own devices with Mama Camel cooking at home. >> Unbelievable. >> I'm spending every $16 an hour I make. >> Christian Healthcare Ministries can save your family hundreds of dollars on healthcare every month. Learn more at chmin ministries.org/budget. org/budget.