Catherine
Appearances
Brooke and Jeffrey: Second Date Update
Second Date Update UPDATE: Carjitsu Crazy
Fine. I'll do one more date.
Brooke and Jeffrey: Second Date Update
Second Date Update UPDATE: Carjitsu Crazy
I have. I really have.
Brooke and Jeffrey: Second Date Update
Second Date Update UPDATE: Carjitsu Crazy
Yeah. I did. I did do that.
Brooke and Jeffrey: Second Date Update
Second Date Update UPDATE: Carjitsu Crazy
Yeah. Okay. So here's what happened. I was embarrassed. I told my roommate about the situation. She didn't know what Karjitsu was, so I showed her a few videos. She told me that I absolutely cannot date this guy. Your roommate said that?
Brooke and Jeffrey: Second Date Update
Second Date Update UPDATE: Carjitsu Crazy
No, I mean, she made some valid points. You know, he's a professional fighter. And so he's going to get hurt. And if this turns into something more serious. I'm going to have to take care of him while he's hurt.
Brooke and Jeffrey: Second Date Update
Second Date Update UPDATE: Carjitsu Crazy
I'm 100% jumping the gun, but I'm looking for something more long-term. And so I fully admit, I'm like, all right, if we have kids, like I did that a whole bit, if we have kids, how long is he going to be doing car jitsu for? Like, he can't possibly sustain that.
Brooke and Jeffrey: Second Date Update
Second Date Update UPDATE: Carjitsu Crazy
I understand that. You're doing fine right now, but maybe in the future, I don't know, someone wraps the seatbelt around your neck and pulls too hard. I don't know what's going to happen.
Brooke and Jeffrey: Second Date Update
Second Date Update UPDATE: Carjitsu Crazy
Listen, both jitsu versus car jitsu. I don't see how that's better.
The Ramsey Show
Your Future Self Deserves Better Choices Today
Hi. So I have a kind of indirect financial question. If you will, not necessarily about my finances, but a conversation I would like to have about finances and my family. Okay. So just a little bit about my situation. I am 22 years old. I'll be turning 23 on Sunday this upcoming week. Oh, happy early birthday. Thank you. From 2021 to 2024 is when I accrued all of my debt to around $30,000. Okay.
The Ramsey Show
Your Future Self Deserves Better Choices Today
And so my question is, I would like to, I've been taking care of it since, September of last year to now, which originally was $37,000 plus. But since then, I've taken care of about $7,000 to $8,000 of it so far.
The Ramsey Show
Your Future Self Deserves Better Choices Today
Thank you. My concern, though, is that while I secured this debt, neither of my parents know anything about it or about my financial situation.
The Ramsey Show
Your Future Self Deserves Better Choices Today
So, yes and no. My father, he doesn't live with us, but he is supportive of me. If I were to need some financial situation or some financial help, he would. And I live with my mother and my grandmother. But considering how much I make, I make enough where I think I'm okay enough without asking for help.
The Ramsey Show
Your Future Self Deserves Better Choices Today
Um, I guess. Before, if you were to ask me that question, I would have made up a lot of excuses. But I've worked on it enough and made enough accountability to say myself, come 2021, I had kind of moved out from my mother's house and lived with my ex. And so it was through some immature purchases on my end and his end. I had set up a joint account for the both of us.
The Ramsey Show
Your Future Self Deserves Better Choices Today
And so he was taking out most of the money between how much we were both earning and I was the more so the breadwinner compared to what he was making. And I was I was OK with it. I would have just liked a heads up because I was working about maybe 60 plus hours a week.
The Ramsey Show
Your Future Self Deserves Better Choices Today
Yeah. Um, I was, I was really stupid. Essentially.
The Ramsey Show
Your Future Self Deserves Better Choices Today
Well, the reason why is because my mom and I have been talking a lot more. And one of my biggest goals for this year is to be more open and honest with the people in my life, my loved ones, my parents, my And I want more instead of like a child-mother relationship. Since I am getting older, I want more of an adult relationship with my mom.
The Ramsey Show
Your Future Self Deserves Better Choices Today
The other two really big concerns are since I work these two jobs, my mom has been open about like what she sees in me and how they're both physical labor jobs. And so she says how exhausted I look and how tired I look. And... The other part is our grandmother lives with us, but she has Alzheimer's. And so on top of working two jobs, I try to help my mom as much as I can with my grandmother.
The Ramsey Show
Your Future Self Deserves Better Choices Today
Yeah, I am. I'm sorry. The other big thing was with everything going on politically, my mom has made it quite known to me how concerned she is about me and my family's well-being. And she has said consistently on numerous occasions, if things were to go from push to shove, she would like for us to
The Ramsey Show
Your Future Self Deserves Better Choices Today
Hi, Rachel and Jade. Thank you for taking my call. I am beyond thrilled to have the two of you answer my question.
The Ramsey Show
Your Future Self Deserves Better Choices Today
OK, so I have a scenario that I have not heard and I have been wanting to pick your brain for a long time. I my question is basically simply what is the next best move to make based on your advice? And my situation is I am 63 years old. I have moved back into a property I've owned for 28 years to establish. I had it. It was a rental property.
The Ramsey Show
Your Future Self Deserves Better Choices Today
I moved back in to establish it as my primary residence to save $80,000 in taxes. Okay. Okay. Because of it not being my primary residence, I wouldn't. Okay.
The Ramsey Show
Your Future Self Deserves Better Choices Today
Now, I don't own another property. I have $50,000 in retirement. I have an account that has $200,000 non-retirement. I spent $30,000 plus... Well, actually $40,000, $50,000. I've spent $60,000 so far and I'm a year in. Like your living expenses. Is that what you're saying, Lori? It takes $60,000 for you to live. Is that right?
The Ramsey Show
Your Future Self Deserves Better Choices Today
Oh, I spent $60,000 above and beyond what I bring in on my income because I actually put the house on the market because I thought this is ridiculous and upside down and against my money philosophies. And, uh, it fell out of escrow twice cause there was a repair, just, you know, things happen in real estate. So I had to spend money.
The Ramsey Show
Your Future Self Deserves Better Choices Today
Well, a part of that was fixing it. And part of that was, uh, you know, just, um, an additional to just keep the house running with insurance and, um,
The Ramsey Show
Your Future Self Deserves Better Choices Today
uh you know uh utilities and whatnot so what is it costing you now to live there like what's the payment or is okay it okay so uh it cost me thirty eight hundred dollars to maintain the house a month and a month okay and that's rent and what that's what is that rent and utilities or is there something else we need to know about that goes into maintaining it
The Ramsey Show
Your Future Self Deserves Better Choices Today
Okay, so that includes my mortgage, property tax, insurance, utilities. That is everything. I also will tell you I am a huge fan of our budgeting. I just lost it. Every dollar.
The Ramsey Show
Your Future Self Deserves Better Choices Today
OK, so I have I am telling you, the two of you, I know every penny that I spend and that comes in. So I am so organized here.
The Ramsey Show
Your Future Self Deserves Better Choices Today
Okay, so I bring in about $90,000. My income can fluctuate, but I'm going to say that it averages, and this is on the conservative side, $90,000 a year. Okay.
The Ramsey Show
Your Future Self Deserves Better Choices Today
Monthly. Um, it looks like probably, uh, I'm going to say, let's just say 6,000, 6,500, 6,000. Okay. Okay. And, um, I, here's a couple of things that are important to know. I don't, I, I, I thought at some point maybe I would, you know, uh, pay this house off and stay here, but I don't want to be here. Period. And I will also throw in, I'm in a fire area.
The Ramsey Show
Your Future Self Deserves Better Choices Today
Because of the expenses, because I don't want to live in the area. It's far from my kids and my grandkids. Where do you want to be? I want to be closer to where they are or... I am willing to go a little outside of the area to stay within my personal comfort financially. Okay.
The Ramsey Show
Your Future Self Deserves Better Choices Today
I'm fine. Okay. What that would look like is, uh, right now, honestly, um, creating some more freedom for myself, freeing up the equity that I have in the house, um, getting accounts set up properly, renting for some period of time and something as low as I can. And what location, Lori?
The Ramsey Show
Your Future Self Deserves Better Choices Today
Well, unfortunately, those grandchildren are in California. But, you know, and it's maybe outside of Los Angeles because, you know, I'm in a fire zone too.
The Ramsey Show
Your Future Self Deserves Better Choices Today
My main question, Jade, is does it make sense for me to sell the house before it hits the two-year mark as primary residence? I would be foregoing about... you know, 70 to $80,000 of tax, you know, but I've already spent 60 and I'm going to spend another 30 or 40 for the rest of the year. And I'm choking.
The Ramsey Show
Your Future Self Deserves Better Choices Today
Because it feels financially absolutely so uncomfortable. Right, because it's more than half of your take home.
The Ramsey Show
Your Future Self Deserves Better Choices Today
No, that's an additional. So I'm going in the hole, I'm borrowing.
The Ramsey Show
Your Future Self Deserves Better Choices Today
Um, that's going to be just covering all the nut because, um, it's actually more like, let's, you're only making 66 to 6,500.
The Ramsey Show
Your Future Self Deserves Better Choices Today
Um, I would be walking away with about 1.2. One or 1.2 million. Wow.
The Ramsey Show
Your Future Self Deserves Better Choices Today
No, the taxes would be because I bought that property for such so low amount. Right, right, right. The overall with everything said and done is still going to be like 300,000 of taxes to pay. Okay. So it's like under that category of math is not a feeling. It's like, as you can hear, I am like struggling every month.
The Ramsey Show
Your Future Self Deserves Better Choices Today
So we live in a single income household. I'm a stay-at-home mom. I do have side hustles. But basically we've been in a like rinse, wash, repeat cycle our entire marriage for five years where we are debt free. We are able to save a few hundred dollars every single month. And we're trying to save for a down payment on a house.
The Ramsey Show
Your Future Self Deserves Better Choices Today
Um, but pretty much what happens is we either get hit with, like we had my daughter two years ago, so we had a big medical bill or we had to buy a new car. Um, you know, new to us car, but it's like that savings gets depleted and it basically takes us, you know, a couple years to save up, you know, double digit money and then we have to spend it on something big.
The Ramsey Show
Your Future Self Deserves Better Choices Today
Um, so I just see that happening again in the next couple of years. Like we have our cars. But when I look at saving for a down payment, I think it's going to take at least five to seven years, maybe longer. And I'm looking at our cars and I'm like, well, we're going to need to buy a car.
The Ramsey Show
Your Future Self Deserves Better Choices Today
Yeah, he's working overtime. I have side hustles. How much are you guys making a year, Catherine? About $65,000.
The Ramsey Show
Your Future Self Deserves Better Choices Today
Yeah. So let me ask this too. So in like the baby step list, it says to... Sorry, Catherine, you're good.
The Ramsey Show
Your Future Self Deserves Better Choices Today
And the baby sub list, it says that like you pay off your debt and then you start investing in retirement. So like my husband and I, he works for the state and because of that, he has to opt into like the state retirement system. And we're like, okay, so we're,