Can I Use Budgeted “Fun Money” To Do Day Trading?

Ramsey Everyday Millionaires

Ramsey Network

Business, Careers, Investing

4.8 • 3.6K Ratings

🗓️ 17 February 2025

⏱️ 3 minutes

🔗️ Recording | iTunes | RSS

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Transcript

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0:00.0	This episode is brought to you by SmartVester.
0:08.0	Connect with an investing pro near you at ramsysolutions.com slash smartvester.
0:13.8	Ryan is going to kick us off in Baltimore.
0:16.2	Welcome to the Ramsey show, Ryan.
0:17.9	Hi, thanks for taking a call.
0:19.6	Absolutely. How can we help? So my wife and I, we use the
0:23.3	every dollar app. We follow it very strictly. And my question is whether it would be okay to use my
0:30.6	fund money to invest in crypto and day trade on an app like Robin Hood.
0:40.3	Sure. You guys are in Baby Steps 4 through 6?
0:42.2	Yes, sir. Baby Step 6.
0:43.5	How much money are we talking?
0:46.9	Like $50 to $75 a month.
0:48.1	Go for it.
0:50.7	Yeah. Which one would you do? Both or just one?
0:51.9	Crypto or the Robin Hood?
0:57.6	Honestly, yeah, just Robin Hood and whatever I'm seeing at the top of the charts,
0:59.8	just throw a few dollars out and see what happens.
1:03.7	I mean, my thought is, you know, I'm going to lose it one way or the other with my fun money,
1:08.0	paying for food or coffee, so why not try to make a little bit of fun money off it?
1:11.4	Yeah, I like that. Yeah. It might be a shock and people are like,
1:16.5	wait, George, you need to go after. No, here's the deal. I'm not even anti-crypto. I'm not anti-Robinhood,
1:22.7	although it's not my favorite app. There's a time and place to burn money on the table and not be stressed about it, and that is once you're debt-free with an emergency fund, you're already investing 15% into retirement into mutual funds and index funds. And money beyond that, like you said,
	...

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