Video reveals money milestones that signal strong financial health

Financial coach George Kamel outlined 11 specific milestones that, in his view, demonstrate meaningful progress toward long-term prosperity. Presented in a recent YouTube video, the checklist ranges from simple habit changes to broader goals such as eliminating debt and establishing a solid emergency cushion.

Majority of Americans report stability, but gaps remain

The release of Kamel’s guidance comes on the heels of the latest State of Personal Finance report by Ramsey Solutions. The study found that 67% of U.S. adults felt financially stable or thriving during the first quarter of 2025. While that figure suggests widespread confidence, other research shows notable vulnerabilities. A Pew Research Center survey, for example, indicated that 51% of households lacked savings equal to three months of expenses, underscoring the importance of Kamel’s savings-focused benchmarks.

Credit cards out, zero-based budgets in

Kamel’s first milestone involves a decisive move: cutting up credit cards. He argues that eliminating easy access to revolving credit helps households curb impulse purchases, shed interest charges and shift attention to building assets. The step is described as emotional but transformative, placing consumers on a path where cash, rather than credit, dictates spending choices.

Once plastic is out of the picture, Kamel recommends adopting a zero-based budget. This method assigns every incoming dollar a specific role—such as regular expenses, debt repayment or savings—before the month begins. According to Kamel, the structure forces intentional spending and highlights waste that can be redirected toward financial goals. He points viewers to the free EveryDollar app as a practical tool for beginners.

Early savings targets build momentum

The third milestone centers on consistent saving habits. Kamel notes that even modest contributions pave the way for larger goals by normalizing a pay-yourself-first mindset. Within that framework, he encourages households to aim for an initial $1,000 emergency fund. While the amount will not cover extensive setbacks, it provides a buffer for smaller surprises such as minor car repairs or medical co-pays.

Debt freedom shifts focus from past to future

Becoming debt-free marks a turning point in Kamel’s list. “This is where you stop paying for the past and start building for the future,” he says. Without monthly interest charges or minimum payments, income can be redirected toward investments and longer-term objectives. For those still carrying balances, Kamel favors the snowball method—tackling debts from smallest to largest—to create quick wins and maintain motivation.

A fully funded emergency reserve safeguards progress

After debts are cleared, Kamel advises expanding the safety net. His milestone calls for a reserve big enough to handle major expenses, including veterinarian bills, significant car repairs or unexpected home maintenance. While the video does not specify an exact figure, common guidance suggests three to six months of living costs, aligning with concerns raised by the Pew study.

Why milestones matter

Kamel positions each checkpoint as both a celebration of progress and a guardrail against setbacks. By measuring success through discrete achievements—rather than solely net-worth calculations—households can remain motivated throughout long financial journeys.

Although the video lists 11 total milestones, the publicly available excerpt highlights the first group of steps: eliminating credit cards, adopting a zero-based budget, establishing regular savings habits, securing a starter emergency fund, paying off debt and building a comprehensive cash reserve. Together, these measures create a foundation that supports further goals such as investing, retirement planning and wealth transfer.

For readers evaluating their own situations, the milestones offer a practical framework. Those who can already tick several boxes may feel confident about their direction, while others can use the list to prioritize next actions and track incremental wins.

Additional guidance on managing money, cutting expenses and safeguarding retirement goals is available at our Finance News Update section.

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