Bill
Appearances
The Ramsey Show
Break the Cycle of Financial Self-Sabotage
So I make like $4,400 a month, and the house payment is $2,360. Yeah, dude. You can't breathe, bro.
The Ramsey Show
Break the Cycle of Financial Self-Sabotage
I'm an electrician apprentice, and hopefully next month I'll be able to take my journeyman's exam, so I would get a significant pay bump.
The Ramsey Show
Break the Cycle of Financial Self-Sabotage
No, but the main thing for keeping it at the moment is that there's not any equity in it, and so we'll probably end up having to pay to even sell the house.
The Ramsey Show
Break the Cycle of Financial Self-Sabotage
uh just the main is just because of the money aspect um i mean i don't really i'd call a realtor and get an actual real number in your head what's making you think that that well because you guys just bought it a year like six months ago is that what you're saying yeah it's basically in i feel like an updated monthly report on it and you'll have to pay capital gains because it's been under two years as well yeah there'll be no gain
The Ramsey Show
Break the Cycle of Financial Self-Sabotage
You know, I'm not that great. The past few months have been pretty bad. You have little ones involved? We have a 19-month-old baby. Oh, man. And we're just trying to...
The Ramsey Show
Break the Cycle of Financial Self-Sabotage
navigate co-parenting at this point but um yeah i don't know she just decided after three years that she was done and called it quits i'm sorry man i'm sorry me too it kind of came out of nowhere i really did not see it coming and her parents and my parents and really nobody about coming and i think she's going through her own issues
The Ramsey Show
Break the Cycle of Financial Self-Sabotage
No, I mean, technically we still, we filed the court documents and all that stuff. We just have to go to a final hearing. She was signing the house over to me.
The Ramsey Show
Break the Cycle of Financial Self-Sabotage
Um, so my soon to be ex-wife and I bought a house, um, a year ago, last February. And then this last October, she decided that she wanted a divorce. Um, she already moved out and I decided to try and keep the house by myself. Um, after we purchased the house, she racked up like $10,000 in credit card debt. And I've been working really hard to get this down, but it seems like after all the bills,
The Ramsey Show
Break the Cycle of Financial Self-Sabotage
that i pay every month i have like maybe an extra hundred dollars i can throw at it and it just seems like at this rate it's going to take forever to pay these credit cards off and i don't know if it's smart to keep or sell the house at this point were the credit cards in your name that she racked up after the divorce they were yes they were and was this after the divorce no it was there it was we were still still legally married okay at that point yeah can you afford to keep this place
The Ramsey Show
The Road to Financial Freedom Is Paved With Grit
What's going on? Yes, ma'am. So I inherited a large amount of money from my dad. How much? A million plus. And it's in the sale of his house is where it initially comes from. There's actually, in addition to that inheritance, that's in IRAs and things of that nature. It's like 2.5 locked up in that.
The Ramsey Show
The Road to Financial Freedom Is Paved With Grit
Yes, ma'am. So my question is, I would like to give a little bit of this money, not a lot, just a little bit to our four children right now. My dad didn't leave him anything. I was the only child, and so he pretty much just left everything to me. But I would like to gift them some. And the dilemma I'm having is that I have four kids and four different financial –
The Ramsey Show
The Road to Financial Freedom Is Paved With Grit
My oldest one is married with three kids, a wife that works, has a house. He's financially okay. My second son is married, has a wife, two children with one on the way. Could use a financial bump, if you will, owns a house. My daughter, who's also older, she owns a house but is living with her boyfriend, who they own the house together. I know that's a real Dave Ramsey no-no, but anyway.
The Ramsey Show
The Road to Financial Freedom Is Paved With Grit
And so she's financially well. She's graduated nursing school, and she's got a good head on her shoulders financially. She's the saver. And then I have a daughter who is currently in college and still lives at home who needs to get hit heavily in the head with the Dave Ramsey financial piece. Seriously.
The Ramsey Show
The Road to Financial Freedom Is Paved With Grit
So you can see I'm kind of all over the map with if I give them some money, how do I gift it to them? I don't want one. I don't want to enable one. I don't want another one to just blow it. I don't want to, you know, potentially give them money and put it on the house.
The Ramsey Show
The Road to Financial Freedom Is Paved With Grit
Same dollar amount across the board. It's not huge. I'm just thinking like, you know, maybe just $10,000, just like $10,000, just something just to kind of help them ease their financial life right now.
The Ramsey Show
The Road to Financial Freedom Is Paved With Grit
Bill? Yes, sir. Where are you at? I personally think they wait until something happens and we pass on to the other side and they get the whole shebang that's in our truck.
The Ramsey Show
The Road to Financial Freedom Is Paved With Grit
Well, my thing is, so we're going to be paying off our house and a few other things that we have. I just don't want to – I would rather – that money continued to grow because now we would be financially set. And then in hopes, if the market is the way it should be, we would have multi-millions in there for them whenever we die.
The Ramsey Show
The Road to Financial Freedom Is Paved With Grit
Is it truly equal to all four because there's four different situations?
The Ramsey Show
The Road to Financial Freedom Is Paved With Grit
It's not what I want to do, but it's not always what I want to do.