Christian
Appearances
The Ramsey Show
Big Life Changes Demand Bold Money Decisions
So I've been a long time, uh, social media watcher never, uh, called in. Um, so I'm 25 from Boston. Uh, I'll give you a little background before I guess I get to my question. I'm 25. I have no debt at all. Um, my net worth, I guess, with investments in cash sits around 133, depending on how the market is. Um, and last year I took around 125,000 home.
The Ramsey Show
Big Life Changes Demand Bold Money Decisions
And I want to buy a watch, a luxury watch, a Tudor. It will range probably with tax around $5,000 to $6,000. I already have a Rolex, and so I guess my question is, with my finances, no debt, nothing, what is an appropriate amount of money to spend on a luxury watch? And if so, does this make sense for me as a want, not necessarily need to spend this amount of money on a watch?
The Ramsey Show
Big Life Changes Demand Bold Money Decisions
Yeah, and then I have, obviously, 401K, my Roth, and then my other standard investment account.
The Ramsey Show
Big Life Changes Demand Bold Money Decisions
I don't know. I kind of appreciate, I guess, the craftsmanship. It's a nice watch. It looks cool. It doesn't do anything different than my phone flipping it over. It's more or less just kind of like a want. It's not like I'm buying it for some sort of you know, to commemorate something. You know, I turned 26 this month. Like, if you really want to call it, I'm buying it for something.
The Ramsey Show
Big Life Changes Demand Bold Money Decisions
I'm getting kicked off my parents' life insurance. Like, that's what I'm buying.
The Ramsey Show
Big Life Changes Demand Bold Money Decisions
I don't mean to extend this conversation, but is there like a rule or a percentage of a net worth that you'd be, you know, like a percentage of my net worth that I could spend on a want that wouldn't necessarily obviously break the bank, but it's like, you're comfortable with just blowing that off.
The Ramsey Show
Stuck in a Financial Pit? Here’s How to Climb Out and Stay Out
Hi, Ken and Jay. Thanks for taking my call. Yes, I am just starting the new year off the right way with trying to get out of debt. I'm following the baby steps. I am just don't have a lot of accountability and I need direction. And I really wanted to make a big deal about this. So I wanted to call the show and get some professional advice from people that I trust.
The Ramsey Show
Stuck in a Financial Pit? Here’s How to Climb Out and Stay Out
Well, I've never really been good at my finances in the past, keeping a budget, keeping up like a record of my finances. And I'm about $90,000 in debt. It's 35 of it. $35,000 is an auto loan. and the rest of it is credit card. And I work part-time, seasonal, on a farm in Oregon. I don't make very much, but I'm very fortunate and blessed to have a trust that I get money from every month. How much?
The Ramsey Show
Stuck in a Financial Pit? Here’s How to Climb Out and Stay Out
But I've been very irresponsible. It's $7,000 now.
The Ramsey Show
Stuck in a Financial Pit? Here’s How to Climb Out and Stay Out
When I am working, which I'm off-season right now, but usually about $2,000 a month. And I work part-time because I have a two-year-old daughter, and I watch her half the week. I have her three and a half days.
The Ramsey Show
Stuck in a Financial Pit? Here’s How to Climb Out and Stay Out
Well, so her mother watches her the rest of the time and she is a big support and my daughter and everything.
The Ramsey Show
Stuck in a Financial Pit? Here’s How to Climb Out and Stay Out
Um, well, I was never really taught that. And, um, yeah, I, um, um, and, and when I get, um, around math or numbers, I choke up. Um, I didn't get very far in math in school and it's, um, it's a very uncomfortable subject for me.
The Ramsey Show
Stuck in a Financial Pit? Here’s How to Climb Out and Stay Out
Um, no. Well, What do you mean by that?
The Ramsey Show
Stuck in a Financial Pit? Here’s How to Climb Out and Stay Out
No, I haven't had that. I only got... It hasn't been that long since I've had that. And it hasn't always been 7,000. I started getting it in 2008 and it started off at 2,000. Got you.
The Ramsey Show
Stuck in a Financial Pit? Here’s How to Climb Out and Stay Out
I think it's probably worth a little bit less than 35. I haven't actually looked it up. I don't know those numbers.
The Ramsey Show
Stuck in a Financial Pit? Here’s How to Climb Out and Stay Out
If money wasn't an object, um, Something to do with plants. I work on a veggie farm. I moved to Oregon so I could do permaculture design, which has a lot to do with, you know, plants. So here's what we're going to do.
Very Scary People
Ep.2: The Root of Evil
It's not paranoia if you end up being right, which is a regret I think we all had, that we didn't 100% believe Christine.
Very Scary People
Ep.2: The Root of Evil
And Christian said to me, they're supposed to be on a plane. Definitely got a kidnapping now.