George Kamel: 5 Terrible Internet Money Tips You Definitely Should Ignore
If you want to get rich, delete your social media apps.
A 2025 CFP Board survey found that bad online money advice has led to financial regrets for 57% of Americans. At worst, you could get in trouble for illegal practices or lose a large portion of your nest egg. In most cases, you might make poor choices that lead to debt or don't grow your money efficiently.
In a recent YouTube video, money expert George Kamel reacted to five short videos on Instagram and TikTok that offered questionable or terrible financial advice. Find out why he doesn't agree with these claims and get smart advice that can help grow your wealth and avoid debt.
1. You're Meant To Be Rich
One video featured positive affirmations about wealth as one's destiny, including "I am meant to be rich." It included emotional background music and instructions to listen to your body, have your hands over your heart and breathe. The video also mentioned the life-changing power of money.
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While Kamel was on board with having a positive mindset for wealth, he said, "You're not going to just manifest it by holding your heart and feeling whatever weird bones you have there."
Rather than expecting money to magically appear, combine your positive outlook with practical wealth-building moves, such as getting out of debt, monitoring your spending and investing regularly.
2. Build Wealth With Indexed Universal Life Insurance
Another video discussed using indexed universal life insurance instead of keeping money in a bank with low returns. It proposed borrowing against that policy's cash value for things like crypto, home purchases and retirement. Some perks noted included tax-free growth, a death benefit, attractive riders and a guaranteed floor to protect against downturns.
Not liking this advice, Kamel said, "I guess people just want to get rich quick and they think I don't want to do something stupid like, I don't know, invest in the stock market with way higher returns than these terrible life insurance/wealth strategy schemes."
Kamel suggested going with a cheaper term life policy and using the money saved for investments. In a blog post, he compared the two types of policies and noted that term life insurance has predictable premiums and provides coverage until you can ultimately self-insure.
3. The Law of Attraction Brings Success
Kamel reacted to a manifestation video featuring a young millionaire talking about the law of attraction. He said the importance of knowing in detail what you want, whether that's a house, a vehicle or millionaire status and focusing on the lifestyle habits that attract it. He also emphasized planning.
Kamel agreed on the importance of having a vision for achieving your goal and planning practical steps to get there. However, behavior and action will be key and you can't expect to get rich just from thinking about it. Be willing to put in the hard work and make sacrifices for it to happen.
4. Carrying Credit Card Debt Is Worth the Rewards
A roleplay video featured French and American characters discussing credit cards. While the American focused on credit scores and points for purchases, the French character said it's more common to use debit cards in France and that credit scores aren't a thing there. The French character also brought up how the American could just use the interest saved for travel.
Kamel agreed with the French character that the rewards aren't worth paying credit card interest. While you might get rewards worth 1% to 5% of your purchase, Federal Reserve data showed that the average credit card had a 21.39% APR in Aug. 2025. He also said that many countries lack credit score systems and that you can even get a mortgage without one.
Instead of paying interest or risking overspending, consider taking Kamel's advice to avoid credit cards and other consumer debt and just stick with cash for purchases.
5. Buy a Car Costing One Month's Pay
This video featured a biker who recommended setting a limit of one month's pay for a car purchase. He discussed living a frugal life that involves avoiding car loans, using cash and saving or investing spare money. Plus, he said he bought past cars for $3,500 or less and wasn't interested in keeping up appearances.
Kamel agreed with the poster's frugal lifestyle and practice of paying cash rather than borrowing money for a car. However, he found the suggested spending limit impractical. According to Kelley Blue Book, even the average used car was $25,730 in Nov. 2025.
Instead, Kamel advised, "My take is that it should be no more than 50% of your household income tied up with anything with wheels and motors in it, 'cause it's a depreciating asset like he mentioned."
This article was provided by MoneyLion.com for informational purposes only and should not be construed as financial, legal or tax advice.
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