Christy Sue
Appearances
The Ramsey Show
Go Slow: Never Invest in What You Don’t Understand
Wonderful. No problem. Okay. So I am 65 years old. I plan to work at least five more years because I only have 41,000 in my retirement account. I have 40,000 plus give or take of debt, which I impulsively let a debt relief company take over for me. I realized now that was a mistake. And that should be resolved within three years of making payments to them. I also own a home.
The Ramsey Show
Go Slow: Never Invest in What You Don’t Understand
I mean, I still owe $88,000 on my home. So I'm wondering if when I become eligible for Social Security in a year and a half, should I, and I'm going to continue working, should I then just try to get my house paid off, double, triple my mortgage payments?
The Ramsey Show
Go Slow: Never Invest in What You Don’t Understand
Once my debt is gone, obviously, just so that when I do stop working and I have to live on the small retirement that I have and my social security, at least I won't have a house payment. Is that the smartest way to go?
The Ramsey Show
Go Slow: Never Invest in What You Don’t Understand
With my side hustle combined, it's between 80 and 90. It just depends on the year.
The Ramsey Show
Go Slow: Never Invest in What You Don’t Understand
An accumulation. I had cancer a few years ago and basically was out of work and had to live on credit cards here and there. And it just added up and interest took over.
The Ramsey Show
Go Slow: Never Invest in What You Don’t Understand
Yes. $40,000 is credit card. It's all credit card.
The Ramsey Show
Go Slow: Never Invest in What You Don’t Understand
So can I do that? Can I take it back from them?
The Ramsey Show
Go Slow: Never Invest in What You Don’t Understand
Right. But does that mean I'll still owe the debt relief company?
The Ramsey Show
Go Slow: Never Invest in What You Don’t Understand
No, I'm paying them $1,000 a month. So I have three credit cards.
The Ramsey Show
Go Slow: Never Invest in What You Don’t Understand
Well, that's handling one debt. I have other debt that they haven't, the small ones, they haven't touched yet.
The Ramsey Show
Go Slow: Never Invest in What You Don’t Understand
Right. The other small credit cards, they haven't touched.
The Ramsey Show
Go Slow: Never Invest in What You Don’t Understand
Okay, so I have a question about the retirement. If I'm 65, are there rules around how much you can put into a 401k?
The Ramsey Show
The Hardest Decisions Are Often About Money & Relationships
Hey, man. Before I start, I just wanted to say thank you to you guys and everybody at Ramsey Solutions. Since I was younger, you've had a really positive impact on me and my financial decisions. I just want to say thank you for that.
The Ramsey Show
The Hardest Decisions Are Often About Money & Relationships
What's happening? I think it would be important just to give you guys a little bit of context on me and just my background before I ask my questions. Basically, I've always been really good with my money. Over a few years, I was able to save up like $50,000. $40,000 of it was in my savings, and then $10,000 of it I had invested in mutual funds. I also am going to school now.
The Ramsey Show
The Hardest Decisions Are Often About Money & Relationships
I like to say better than debt-free because I'm going totally free. Good for you, man.
The Ramsey Show
The Hardest Decisions Are Often About Money & Relationships
Scholarships and a work study and stuff like that. So with that, though, during all of that time that I was accumulating those funds, I was in an abusive relationship. Pretty much like anything negative you could think of. I'm sorry. She dished all that out. So it kind of messed me up.
The Ramsey Show
The Hardest Decisions Are Often About Money & Relationships
And when I was finally able to get out of it as a way of coping, I guess, I started spending my money on a lot of stuff. Sorry. You're all right. Over like maybe eight months now, I've totally drained. all my savings and, um, I've pulled out all my investments and I've just spent it all on crap. And, um, I probably only have like, I don't know, maybe a little under $2,000 now. Okay.
The Ramsey Show
The Hardest Decisions Are Often About Money & Relationships
Uh, so I just, I don't really know where to go from here because my plan originally was once I get my bachelor's, um, The deal that I have with my parents is once I'm done with college, I'm out of the house. That's just what it is. I was going to go to grad school and everything, but I'm just not really sure how to go about doing that and just what to do financially anymore.
The Ramsey Show
You Don’t Need a Raise, You Need a Plan
Well, I know from listening to your guys' podcast, you say the two shall become one, and that includes finances. And there is just a lot of fear there with combining and afraid that you're going to get what you got before and that you're going to find out, oh, my gosh, this person who I was supposed to be able to trust was lying to me.
The Ramsey Show
You Don’t Need a Raise, You Need a Plan
And then his side of the fence is, well, if I open up to her and I tell her what's actually going on with finances, she's going to mess me over and take me to the cleaners again.
The Ramsey Show
You Don’t Need a Raise, You Need a Plan
He loves Jesus big. And I respected his walk with Christ and who he was. His character was so good. And he was different than anybody else I had met.
The Ramsey Show
You Don’t Need a Raise, You Need a Plan
Hi, thanks for taking my call. Yes, we have baby number seven on the way, and we are considering a move to Texas. My husband and I have been talking about it, and I wanted to bring it by to you guys and see what you thought. We're coming into some money.
The Ramsey Show
You Don’t Need a Raise, You Need a Plan
We don't have a lot of savings, but we're trying to decide if we want to pay off debt first and stick it out here or move to Texas for lower cost of living and so my kids can go to school.
The Ramsey Show
You Don’t Need a Raise, You Need a Plan
It could be. There's definitely jobs in the same price range as what we're earning now. So it's going to be about the same earning. Just different taxes.
The Ramsey Show
You Don’t Need a Raise, You Need a Plan
Right. Well, the main thing is just that, you know, we've outgrown our house here. We've outgrown our car here. We're always in the, you know, falling into the negative and we do still have debt to pay off. So it's like when we do come into this money, you know, are we going to be spending it on making a move? Because obviously it's going to cost a lot to move seven kids out to Texas.
The Ramsey Show
You Don’t Need a Raise, You Need a Plan
Or are we going to... try to get our situation looking a little better.
The Ramsey Show
You Don’t Need a Raise, You Need a Plan
About $10,000 is what we get in our tax return, something like that.
The Ramsey Show
You Don’t Need a Raise, You Need a Plan
So we owe $13,000 on the car, and then we have $23,000 that we're not currently paying in charge of in the collection. From credit cards? Basically, yeah, some medical stuff and, yeah, credit cards.
The Ramsey Show
You Don’t Need a Raise, You Need a Plan
I mean, I was thinking it might take somewhere around $8,000.
The Ramsey Show
You Don’t Need a Raise, You Need a Plan
I haven't calculated it exactly, but I know the cost of living is going to be a lot less in terms of everything across the board. Right now we're about $650 over budget every month, and that's because of how much we pay in California. And I know Texas would probably give us a lot more wiggle room. For sure.
The Ramsey Show
You Don’t Need a Raise, You Need a Plan
Absolutely. Yeah, right now my kids have no religious freedom to go to school, so I'm not able to work. I work per diem because I'm home with them.
The Ramsey Show
You Don’t Need a Raise, You Need a Plan
Well, I'm a nurse, so I make a living. but I make around $40 an hour. That's great. There's some Texas jobs that pay more, you know, out there.
The Ramsey Show
You Don’t Need a Raise, You Need a Plan
Yeah. I'm excited. What does your husband want to do? Well, it's hard to talk to money, money talk with him. He always thinks I'm coming down on him about his income, you know, and it's not that, you know, I, I respect him and I appreciate his hard work. I try to calm a lot. I appreciate him working hard, but I just, you know, Does he want to do the move?
The Ramsey Show
You Don’t Need a Raise, You Need a Plan
We have, and he's pondering, and he's looking, and he has his eyes peeled, and he's actually open to it a little bit more these days since things have gotten pretty bad. So I think he's open to it, but it is hard to talk to money about money. I mean, we end up just walking away from the conversation.
The Ramsey Show
You Don’t Need a Raise, You Need a Plan
Right, yeah. Like, he just doesn't want to be told what to do or, you know, talk about our earnings or... Okay, I got a thought.
The Ramsey Show
You Don’t Need a Raise, You Need a Plan
It's just kind of always been that way. I've always been kind of the breadwinner in a way, so I've always made more, and now that I'm a stay-at-home mom and he's doing it, you know, we've cut down so many things that I've become, honestly, a little bitter, and I probably have been not the nicest about it, and I'm not yelling at him or anything, but...
The Ramsey Show
You Don’t Need a Raise, You Need a Plan
It's probably not nice to hear that he's really not making enough to provide out here in California.
The Ramsey Show
You Don’t Need a Raise, You Need a Plan
He didn't. He didn't for the longest. And even a few weeks ago, he didn't agree that Texas has a lower cost of living. I mean, he's completely in denial. It's like a family thing, like wanting to stay by family to understand. But there's family in Sacramento. Yes. Yeah.
The Ramsey Show
You Don’t Need a Raise, You Need a Plan
They're all the way in Monterey. So they're all the way. They're far away. But yeah, they're in California. So it's kind of a whole California. You know, we're born and raised here. So it's a mentality. A lot of people deal with this. You know, it's hard to leave here.
The Ramsey Show
You Don’t Need a Raise, You Need a Plan
He does. He now agrees. What about the schooling? The schooling is, you know, it's a hit or miss with him because he does like that we homeschool. He doesn't love the school year, but I think in Texas he would be okay with them going to school because it's a lot safer. I think you all need to take a weekend trip.
The Ramsey Show
You Don’t Need a Raise, You Need a Plan
Well, on his side of the fence, he farms with his dad. So that's a family business.
The Ramsey Show
You Don’t Need a Raise, You Need a Plan
Well, actually we did. We did sign a prenuptial agreement. So I actually volunteered to sign one. Oh, good for you. I said, when we were dating, I said, I'm feeling like that there's something here. And I said, if you need a piece of paper, then give it to me and I'll sign it because I don't want anything from you.
The Ramsey Show
You Don’t Need a Raise, You Need a Plan
That had to be huge. Well, there's still some walls there. I can sense that he doesn't want to open up to me too much yet. And from my perspective of having that been violated on my side of the fence, I completely understand it. I'm like, as you should be. You should be worried.
The Ramsey Show
You Don’t Need a Raise, You Need a Plan
So I was just wondering how you guys would handle this. My husband and I are newly married about six months. We were both previously married. I was married for 26 years and he was married for seven. And both of us through our relationships, it's like we both had financial infidelity by our partners. So I found out that my ex-husband had been lying to me about money for well over 15 years.
The Ramsey Show
You Don’t Need a Raise, You Need a Plan
And then his ex-wife, she left him and then tried... He's a farmer, so they have a large farm, and she tried to take the whole farm. So there's been a lot of infidelity there on the financial side. So both of us have these deep fears of combining finances from... you know, previous relationship. We don't know how to handle moving forward financially together, biblically speaking.
The Ramsey Show
It’s Our 2024 Annual Giving Show!
took me under her wing and could see that I was angry and bitter, but I was still a good kid. I didn't get in trouble or anything like that. And she showed interest and she wanted to come to some of my sporting events and was like genuinely invested in me as a person. And now as an adult, understanding that she had three other kids that were around my age.
The Ramsey Show
It’s Our 2024 Annual Giving Show!
So she was juggling all of their activities too. And she still is. you know, made that time for me. It was super precious. And like I said, I didn't really get into trouble, but there was one day before prom, I got pulled out of class by the principal and he gave me an envelope that had nearly $200 in it. And he said, he have a good time at prom. And I begged him,
The Ramsey Show
It’s Our 2024 Annual Giving Show!
to tell me where this $200 came from, and he wouldn't do it. And to this day, I'm still very good friends with this teacher. Her name is Nancy, and she still won't admit that she was behind that $200, but it was.
The Ramsey Show
It’s Our 2024 Annual Giving Show!
Yeah, and, you know, it wasn't just that. It was the seed of compassion that she planted in me. And that has just really changed the trajectory of my life. I could have certainly followed the path of my parents and I didn't. I ended up going to college. I'm in law enforcement now.
The Ramsey Show
It’s Our 2024 Annual Giving Show!
And, you know, what I went through with my parents really helps me be more compassionate to the people that I deal with on a daily basis. And then, you know, her Her compassion touched me in such a way that I wanted to give big. So God placed it on my heart. In 2021, I donated my kidney to a stranger. And in that, I called Nancy.
The Ramsey Show
It’s Our 2024 Annual Giving Show!
My husband and I were kind of keeping it close to our chest because there's a lot of things that can go on with the surgery like that, it getting rescheduled or things like that. But I really felt that I needed to share that with her. And she said, so you're just donating to anybody? And I said, yeah, I didn't know anybody that needs a kidney. So I just was going to donate to whoever.
The Ramsey Show
It’s Our 2024 Annual Giving Show!
And she said, I know someone that needs a kidney, and it's my best friend from seventh grade. And so because I knew before the donation, the National Kidney Registry has a program. They do like paired donations and things like that. So I was able to give her friend who I'd never met a voucher so that she could then get a kidney. So I donated in February of 21.
The Ramsey Show
It’s Our 2024 Annual Giving Show!
Her friend was able to get her kidney in October of 21. And then because that was so rewarding. May of this last year, I actually donated 63% of my liver to a stranger.
The Ramsey Show
It’s Our 2024 Annual Giving Show!
Merry Christmas. Merry Christmas. I don't know how you do this every day. I'm so nervous.
The Ramsey Show
It’s Our 2024 Annual Giving Show!
All right. Thank you. So there's a couple layers to this onion. So when I was growing up, my family was plagued with addiction, alcoholism, and mental illness. And my mom left when I was 10 years old. And I was with my dad then. My sister and I were with my dad until I was 13. And at that point, again, there was those layers of addiction, alcoholism, and mental illness. And
The Ramsey Show
It’s Our 2024 Annual Giving Show!
He brought us to stay with our aunt and uncle for what we thought was going to be the summer. And then that ended up being about three years. And then I went and I was in a couple of different homes after that. And so as you can imagine, I was just at the age of 17, I was just bitter and angry. And I had a teacher, I ended up in a home economics class and I had a teacher that just
The Ramsey Show
Draw a Line in the Sand and Say “I’m Done!”
No. So I am trying to pay back my school loans. I have $7,000 in debt and school loans. I just recently bought a phone, too, because my old one broke, and so that's about $800 to pay that off. And then my son is in school, and I'm paying $300 a month for that, and I'm also on scholarship, so... That is $300 with scholarships for paying for my son's school. And then just normal. I got food, rent.
The Ramsey Show
Draw a Line in the Sand and Say “I’m Done!”
Oh, yeah. Exactly. And this might be a side hustle.
The Ramsey Show
Draw a Line in the Sand and Say “I’m Done!”
With the car, I am kind of in dire need of a new car. My car right now.
The Ramsey Show
Draw a Line in the Sand and Say “I’m Done!”
How can Ken and I help? So I am wanting to buy a new car. I want to be financially able to buy a house. And I am also needing to get out of debt. So I have about $7,000 in debt from school loans. I just recently graduated with an associate's degree. And so I've been working a lot. I also have a four-year-old. I'm a single mom. And I make roughly $2,000 a month.
The Ramsey Show
Draw a Line in the Sand and Say “I’m Done!”
And by the end of the month, I'm left with maybe like $100 to $80 to do things that I need to do, like get an oil change and buy clothes and stuff like that. And I'm just really struggling financially, and I'm done. I don't want to be this way, and I don't want to do this the rest of my life.
The Ramsey Show
Draw a Line in the Sand and Say “I’m Done!”
Science. My associate's in applied science.
The Ramsey Show
Draw a Line in the Sand and Say “I’m Done!”
The original plan was to get my associate's degree to help me get a foot into the door for getting my bachelor's in nursing. Nursing is very competitive, and so having that on my record makes me look a little better, I guess, than most people applying. Did you want to do nursing?
The Ramsey Show
Draw a Line in the Sand and Say “I’m Done!”
I eventually would like to get my master's in OBGYN and become a midwife, but that's like four years down the line.
The Ramsey Show
Draw a Line in the Sand and Say “I’m Done!”
To get my master's, there would probably be another two to three years.
The Ramsey Show
Draw a Line in the Sand and Say “I’m Done!”
Yeah, a little bit, and... I understand your question a little better. So to get my nursing degree, I would need two more years. That's what I thought. Two years of the prerequisite courses.
The Ramsey Show
Draw a Line in the Sand and Say “I’m Done!”
So I signed up for FAFSA, which here in Colorado is a program that you can sign up for, and it signs you up for every single scholarship grant, anything that you can get.
The Ramsey Show
Draw a Line in the Sand and Say “I’m Done!”
So I think that I could get enough scholarship money to pay for my entire schooling, seeing as how I'm a four-year-old and I'm a single mom. Christy! I think that I'll be okay there. Christy! But until then, I'm like...
The Ramsey Show
Getting Your House In Order Is The First Step To Financial Success
Hey, guys. Thanks for taking my call. I am... I'm coming into some inheritance. I've already gotten some, um, uh, right now I have about $400,000. Uh, this next week I get another about $300,000 and then there's somewhere around 500 to 700 more coming down the line. Um, yeah, so, uh, yay for me, but, um, I just, I don't really have a good plan of what to do with the money.
The Ramsey Show
Getting Your House In Order Is The First Step To Financial Success
Um, my only debt right now is a, uh, my, my primary, uh, residents, uh, about 70,000. On a pretty good loan, it's only like 2.25%, so it's really not costing us a lot. So I haven't paid that off yet, but I'm wondering, one, if I should pay that off with this next round of inheritance that comes in, and then kind of what else to do with the money.
The Ramsey Show
Getting Your House In Order Is The First Step To Financial Success
This last year, my mom, yeah. I'm so sorry. Thank you. It's all essentially coming from property sales, so multiple properties that'll... Have you looked into any tax implications of the inheritance? As far as I understand from our accountant that was helping us before my mom even passed away, that there is... we're not getting like taxed on any of it, which is very surprising to me. But yeah.
The Ramsey Show
Getting Your House In Order Is The First Step To Financial Success
Yeah, and we, you know, before the money, my wife and I, we have a pretty good income. We're pretty... we're pretty, uh, uh, comfortable. Um, we, we, our first house, we made like almost 300,000 on. And, and, um, when we moved, we, we got set up pretty, pretty comfortably with only having the, excuse me, the home loan. So, um, what's your current net worth?
The Ramsey Show
Getting Your House In Order Is The First Step To Financial Success
Um, well, I guess with the house, um, and that, um, somewhere over a little over a million right now. And that's, again, I don't, uh, next week, um, a house closes and that's somewhere around 300,000 that comes in, maybe, maybe even like 325,000.
The Ramsey Show
Don’t Become a Victim of Your Circumstances
Hi, thanks for having me on the show. So recently my in-laws have moved back in with us for a second time. They've made plenty of poor financial decisions and, you know, again, wound themselves back up living with us again as of the beginning of this month. And we're kind of trying to figure out what we can do to, you know, we tried helping them and they don't really want our help.
The Ramsey Show
Don’t Become a Victim of Your Circumstances
Yeah, so without providing any financial help to them, we have offered to sit down and help them with the budget. My wife and I have taken the financial peace courses. They did actually say they're going to attend it with me as we are going to re-attend it again. So they're interested in it. We'll see if it happens.
The Ramsey Show
Don’t Become a Victim of Your Circumstances
Um, I'm in school for finances, so I'm, I feel like I'm pretty, pretty decent at making a budget. So I'm trying to help them with that. And they shut us down immediately and get pretty upset with us.
The Ramsey Show
Don’t Become a Victim of Your Circumstances
I think it's just, they, um, you know, they've struggled with it for so long and they don't feel like they need the help and they can figure it out on their own. Well then have them move out.
The Ramsey Show
Don’t Become a Victim of Your Circumstances
They kind of assumed at first, and then my wife finally did offer, but under temporary circumstances of, you know, hey, we can help you. for like a month, get you situated, get you going. So we're still, we're coming up at the end of that month. It doesn't seem like they're going to get out. They recently refinanced a payday loan, refinanced their car. Are they both working?
The Ramsey Show
Don’t Become a Victim of Your Circumstances
My father-in-law works and his take home comes out to about 60,000 a year.
The Ramsey Show
Don’t Become a Victim of Your Circumstances
She is able to work, yes. But she's just not.
The Ramsey Show
Don’t Become a Victim of Your Circumstances
Right. So when they moved last time, they kind of followed us when we relocated across the state because they wanted to be closer to grandkids. They had a house. They couldn't make payments on it and move at the same time. So they decided just to let it foreclose and moved in for a couple months so they could find a new place here after their foreclosure of their house.
The Ramsey Show
Don’t Become a Victim of Your Circumstances
She would obviously, I think she would be upset in the fact that it's her parents. She doesn't want to just throw them out. But she has come to understand that we're enabling them by doing this. They're not willing to accept our help, even if they were to stay longer, but allow us to help them with a budget so they can get going in the right direction, it wouldn't be as bad.
The Ramsey Show
Don’t Become a Victim of Your Circumstances
But the fact that they won't even allow us to help, I definitely think she would... understand that.
The Ramsey Show
Don’t Become a Victim of Your Circumstances
And we brought that up and she's, she's getting a lot more comfortable with it.
The Ramsey Show
Broke Is Normal—Do You Really Want to Be Like Everyone Else?
my focus should be, I've got three year old kid at home. I've got a wife who's been battling cancer for the last 10 years, roughly, but it's taken a tough right hand turn in the last few months and gotten different prognoses ranging from, you know, a couple of years to maybe five at most.
The Ramsey Show
Broke Is Normal—Do You Really Want to Be Like Everyone Else?
Um, so trying to figure out what should my focus financially be on whether making the here and now as enjoyable as we can versus trying to make sure we're still saving for the future of my son and I.
The Ramsey Show
Broke Is Normal—Do You Really Want to Be Like Everyone Else?
I've got a three-year-old son at home. We've been together for almost 20 years now.
The Ramsey Show
Broke Is Normal—Do You Really Want to Be Like Everyone Else?
Yeah, yeah. We had some new re-diagnoses, kind of progression of disease. Okay.
The Ramsey Show
Broke Is Normal—Do You Really Want to Be Like Everyone Else?
Together we're just over 250, so I'm making about 130 or so myself.
The Ramsey Show
Broke Is Normal—Do You Really Want to Be Like Everyone Else?
That does, yeah. We've been, I mean, up to this point, we've made a pretty good progress, I'd say, financially with everything, and have been living fairly frugally.
The Ramsey Show
Broke Is Normal—Do You Really Want to Be Like Everyone Else?
So she's down right now then. Well, we just started new treatment on last Saturday, so it's in its kind of wait and see how things react. But she's going to be stepping away from work after the new year and kind of play it by ear from there.
The Ramsey Show
Broke Is Normal—Do You Really Want to Be Like Everyone Else?
It's kind of the next new thing on the line. It's kind of attack things from a different angle and see if we can halt progress again and hold it as long as we can. There's new side effects that are unknown how she'll react at this point.
The Ramsey Show
Make Money Choices Today That You Won’t Regret Tomorrow
Well, I started with looking in the healthcare business section that I was in, and because it had been over 20 years, I just could not get any kind of interviews. I've had all kinds of people look at my resume and say it's really good. Um, I mean, vice presidents, all types of people I've had look at it.
The Ramsey Show
Make Money Choices Today That You Won’t Regret Tomorrow
Yes, so my husband and I have been married for about five years this year, and my daughter is 11, and we have a difference of opinion on what we should spend on her. We get along great. We communicate great. But when it comes to this, we cannot agree. And I would just like some unbiased opinion. It's everything from she needs something from school to summer camps.
The Ramsey Show
Make Money Choices Today That You Won’t Regret Tomorrow
I feel like she should be able to go to summer camp and not sit in front of a tablet all summer when he thinks those are a little... ridiculous because they are so expensive and that we should not really spend anything extra outside of what our child support is to spend anything on her. What do you mean child support? So I get child support from her dad every month, obviously.
The Ramsey Show
Make Money Choices Today That You Won’t Regret Tomorrow
But that's the only money that I should use for anything school-related. $300 a month.
The Ramsey Show
Make Money Choices Today That You Won’t Regret Tomorrow
Because she is a brat. She's 11. She has a little bit of an attitude. They don't get along?
The Ramsey Show
Make Money Choices Today That You Won’t Regret Tomorrow
And her biological dad buys her everything she asks for every single time. Okay, so she's spoiled. Yes.
The Ramsey Show
Make Money Choices Today That You Won’t Regret Tomorrow
Um, so then I tried to, you know, change it up and do more marketing stuff, which is kind of what I've been doing, I guess, part time. Um, and I just can't seem to find anything.
The Ramsey Show
Make Money Choices Today That You Won’t Regret Tomorrow
He is very much, I don't want to spend money on anything.
The Ramsey Show
Make Money Choices Today That You Won’t Regret Tomorrow
He is a tightwad, but he will spend things. If I wanted something, sure, I could have it. But he grew up, if he wanted something, he had to work for it. So that's exactly what she did.
The Ramsey Show
Make Money Choices Today That You Won’t Regret Tomorrow
But I, at the same time, feel like I should be able to buy things for her and not feel any kind of way about it. I agree. I'm not saying going overboard. Uh-huh.
The Ramsey Show
Make Money Choices Today That You Won’t Regret Tomorrow
I have had a few interviews, but not very many. I'm just not getting any calls for interviews, so I'm not sure.
The Ramsey Show
Make Money Choices Today That You Won’t Regret Tomorrow
Right. I've told him I don't tell him every time she asked for something because I do say no a lot. But all he hears is when I'm in agreeance and she's like, oh, she doesn't ask for stuff. And I'm like, well, she's 11. Yeah.
The Ramsey Show
Make Money Choices Today That You Won’t Regret Tomorrow
I'm like, give me a number. And he was like, $500. I'm like, that spends one camp. So you've got three months. I get one camp, and she's going to sit in front of her phone the other.
The Ramsey Show
Make Money Choices Today That You Won’t Regret Tomorrow
The caveat is we work full-time, so she's with her dad all summer. Mm-hmm. Who lets her do whatever she wants. Being on the phone is what it happens. That's what happens.
The Ramsey Show
Make Money Choices Today That You Won’t Regret Tomorrow
I'm going online and filling out. I have different resumes tailored to different types of jobs, and then I'm sending them in. And I've been looking locally, but also I can't really move right now. I still have one in high school. So I'm kind of a little bit. I don't live in the area.
The Ramsey Show
Make Money Choices Today That You Won’t Regret Tomorrow
I think he does, but my reasoning isn't good enough, and I think we argue so bad about it, we just avoid it at this point.
The Ramsey Show
Make Money Choices Today That You Won’t Regret Tomorrow
Thank you. Thank you. Thank you.
The Ramsey Show
Make Money Choices Today That You Won’t Regret Tomorrow
Yeah, I mean... I have had a few people in health care, but mostly it's just been other fields. Anyone that I knew that could look at it, I would let them look at it. But everybody said they thought it was a great resume.
The Ramsey Show
Make Money Choices Today That You Won’t Regret Tomorrow
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The Ramsey Show
Make Money Choices Today That You Won’t Regret Tomorrow
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The Ramsey Show
Make Money Choices Today That You Won’t Regret Tomorrow
Well, I know the answer to that. I did ask that question. And the majority of his money has been spent on food and video games.
The Ramsey Show
Make Money Choices Today That You Won’t Regret Tomorrow
Yeah, that's what I'm calling because it's... Okay. Yeah, we're confirming it.
The Ramsey Show
Make Money Choices Today That You Won’t Regret Tomorrow
Why I love him. He has been my rock. I've opened up a ton of new businesses in the last year. And every single one I've done, he's had my back through every single one. He's so genuine. He is so sweet. And he is so kind-hearted. I've never met a man like him in my life.
The Ramsey Show
Make Money Choices Today That You Won’t Regret Tomorrow
I mean, I have some extra money. Like when we sold the marital house, I wanted to do something with it. So I bought a rental. I have a great tenant, pays on time, like it's going great. The problem is I don't have enough to buy another full house. So I'd have to get, of course, mortgage and the rates, you know, are not good.
The Ramsey Show
Make Money Choices Today That You Won’t Regret Tomorrow
And I don't want, if I do that, I don't want it to be too close to what I'd have to pay, you know, with insurance and taxes and such. The other house is for you? I'm just...
The Ramsey Show
Make Money Choices Today That You Won’t Regret Tomorrow
for you another rental my house is paid off why are you in a rush to where you're like i'd have to get a mortgage and i'd have to why do you feel rushed to do that um because i won't be getting any help from my ex-husband soon like i'm you know i'm kind of getting near there and i don't make a lot with my job or my so you're you're thinking this is going to be good income like instant income
The Ramsey Show
Make Money Choices Today That You Won’t Regret Tomorrow
I'm looking for income, really.
The Ramsey Show
Make Money Choices Today That You Won’t Regret Tomorrow
Yes, I got a divorce a few years ago, not really by choice, but I cannot seem to find a job. Before I stayed at home with my kids, I had a great job. I have a master's degree. And now that I'm trying to look for a job full time, nobody will really hire me. And I'm currently doing like the small business that I was doing when I was married. So it's more of a part-time income.
The Ramsey Show
Make Money Choices Today That You Won’t Regret Tomorrow
But I got my house is paid off. My car is paid off. I have a rental house that's paid off. So I've got that and I've got some cash, but I'm not really sure what to do with it because I don't know what my salary is going to be in the future.
The Ramsey Show
Your Future Self Deserves Better Choices Today
So if I got an extra $100,000, my brother would get $100,000 on the will, etc. So then I started booking it as like an interest-free loan against myself in the future.
The Ramsey Show
Your Future Self Deserves Better Choices Today
Well, it's not that I would have received it. I would have done anything with it. It's just that it looks like I'm borrowing from my inheritance, which is weird because my wife and I worked really hard not to be in debt at all.
The Ramsey Show
Your Future Self Deserves Better Choices Today
It's not a loan. So you think that's fine then?
The Ramsey Show
Your Future Self Deserves Better Choices Today
Yeah, that makes sense. And we are in our late 20s. So that kind of checks out.
The Ramsey Show
Your Future Self Deserves Better Choices Today
So my wife and I recently had our first child. She is a daughter, which is obviously awesome. Thank you. And my parents live in Columbus, Ohio, which is about an hour and a half away. And naturally, they would like to see us and their grandchild more. We are looking to upsize our home. And we were looking in the Dayton area originally because cost of living, we can afford it.
The Ramsey Show
Your Future Self Deserves Better Choices Today
They then offered to give us an additional, the difference between the prices of the home in Dayton to Columbus that would go towards our down payment, making it affordable if we moved to Columbus. That sounded good. It would be a gift, not like a loan. But then they mentioned that they would have to make it even and change prices. The will slightly so that money was even with my siblings.
The Ramsey Show
Slow and Steady Wins the Race Every Time
Oh, just calling in and living the dream, man. I love listening to you guys. I grew up with you guys in my household, and super cool to be here. Thanks for having us.
The Ramsey Show
Slow and Steady Wins the Race Every Time
Well, so in our house, debt was a common word. So by the time I got older, I hated the word. So didn't want anything to do with it. I honestly thought you were like a long lost uncle for how much you've been mentioned in our household. So it was awesome. So my parents taught us your principals, but also shared their shortcomings.
The Ramsey Show
Slow and Steady Wins the Race Every Time
And it really just gave my brother and I just a tremendous opportunity to not make the same mistakes they did.
The Ramsey Show
Slow and Steady Wins the Race Every Time
Well, so we have a business. It brings in about $400,000 a year. I pay myself right around $100,000, $120,000. And my wife recently left her job as a teacher to come work with us full time. So she works with the business now. Wow.
The Ramsey Show
Slow and Steady Wins the Race Every Time
It's actually a wedding company. So we do, so funny enough, I'm actually a DJ. So I started off DJing and we grew a wedding company. My wife left being a school teacher to be a coordinator. So now she's able to stay home. We're actually expecting our first baby in September.
The Ramsey Show
Slow and Steady Wins the Race Every Time
So that's, it's not paid for yet. And you know, that's something we're, we're working on. So we have some liquid cash and, um, that's the only debt we have right now is the home.
The Ramsey Show
Slow and Steady Wins the Race Every Time
Yes, sir. Yeah. It's a savings and checking. So we have about 550 of liquid cash. Um, and then we have another 6,000, my wife's savings account. Uh, we have about 140,000 in general investment. So like the index funds, mutual funds. Then we have a Roth 401K that we set up for our business. We have about 16 and a half in that. And then my wife as a school teacher, she had a 403B, 30K in that.
The Ramsey Show
Slow and Steady Wins the Race Every Time
And then we have a Roth 401K as well as IRA.
The Ramsey Show
Slow and Steady Wins the Race Every Time
That's about right. That's about right. What do you drive? Okay. So I drive a 2014 Nissan Versa, a 2008 Mustang that needs a new battery. And then I have a, this is for the business. We bought our one new vehicle. We have a 2023 Honda Odyssey minivan.
The Ramsey Show
Slow and Steady Wins the Race Every Time
Yeah. Well, actually, funny enough, I have adopted the minivan until the Mustang gets the battery fixed. But yes, yes, he does love it.
The Ramsey Show
Slow and Steady Wins the Race Every Time
That's right. That's right. And if I want a happy life, we need to keep it that way. Okay.
The Ramsey Show
Slow and Steady Wins the Race Every Time
You know what? It's liberating, right? It's liberating, but it doesn't feel all that different. I mean, I, you know, money can go as fast as it comes in. So for me, it's very freeing. We don't have to think about our finances in the same way that you normally would have to in life. We're able to travel and do our thing, but it doesn't really feel that different because I know how fast it can go.
The Ramsey Show
Slow and Steady Wins the Race Every Time
So that's a good question. So that's kind of like the next thing we're working on. So we actually were just trying to make sure that our life is in order for the new baby coming.
The Ramsey Show
Are You Ready To Go Scorched Earth on Your Debt?
Hi, guys. How are you? I'm doing great.
The Ramsey Show
Are You Ready To Go Scorched Earth on Your Debt?
Yeah, so I was hoping I could get you... My husband and I bought a home about two years ago, and we did not realize the extent of repair that it needs. And the area is a lot more unsafe than we anticipated. So we're planning on selling the home and moving to an apartment. And so we just wanted to know if you guys think this is the best option for us right now.
The Ramsey Show
Are You Ready To Go Scorched Earth on Your Debt?
Our realtor says it could be hit or miss. He said a quick sale would be about $230. If we left it on, it could be $250 and upwards. We just won't know until we look.
The Ramsey Show
Are You Ready To Go Scorched Earth on Your Debt?
It is livable now, but maybe a couple months ago we had to do some floor work ourselves in order to make it livable because of the rod in the foundation. So it's not completely fixed. There's areas of the house that I would probably avoid, but it's not unlivable. It's not unsafe. I mean, we could list it and get a decent amount. What did you pay for it? Oh, yeah.
The Ramsey Show
Are You Ready To Go Scorched Earth on Your Debt?
We paid, we got 223, but it's a home from my father. So he gave us a gift of equity. So we owe 181 on it right now.
The Ramsey Show
Are You Ready To Go Scorched Earth on Your Debt?
We have $1,000 left to pay, hopefully, by the end of this month.
The Ramsey Show
Are You Ready To Go Scorched Earth on Your Debt?
We don't, so we would be starting, other than the $1,000, right, we would be starting our emergency fund.
The Ramsey Show
Are You Ready To Go Scorched Earth on Your Debt?
Yes, he's actually a family friend. So I've known him since I was about 12 years old, and I'm 30 now. Okay.
The Ramsey Show
Are You Ready To Go Scorched Earth on Your Debt?
I believe that he would do every effort to make sure that we did, yeah.
The Ramsey Show
It’s Time To Cut Debt out of Your Life!
Hello, my name is Chris. I'm currently putting into a Roth IRA right now or a 401K. And I just wanted to know the difference between the pre-tax and the after-tax contributions to see if there's any benefits of the pre-tax and the non-pre-tax. And I just wanted to see if I could get some answers on that. Thank you and have a good day.
The Ramsey Show
It’s Never Too Late to Clean Up a Financial Mess
Hey, guys. Nice to talk to you. I was hoping I could do this a little bit better, but I've got a question for you. I've been with someone and recently married for years and found out last year that my spouse has not filed taxes for over 20 plus years.
The Ramsey Show
It’s Never Too Late to Clean Up a Financial Mess
And I'm very, very firm on this. I don't know. Uh, things have been hidden from me. I gave him an old made him last year. I said, listen, you've got one year to clear this up, to get started, to reach out, get a payment system going. I was like, if you, you talk to them, they're not going to come after you. They'll work with you because I've had it happen before. Um, so yeah,
The Ramsey Show
It’s Never Too Late to Clean Up a Financial Mess
A year went by and I found out that the person he was supposedly taking his taxes to and followed an extension with had passed away. I had no idea this person had passed away and come to find out he then admitted he had never taken any information to this person whatsoever.
The Ramsey Show
It’s Never Too Late to Clean Up a Financial Mess
That he's too scared and he's putting that fear over our relationship.
The Ramsey Show
It’s Never Too Late to Clean Up a Financial Mess
Well, uh, there are five kids. Thankfully they're from a previous marriage. Uh, so I, I'm not really sure how to proceed with this other than I've been researching and trying to protect myself. Luckily, I've always done married filing singly because it just seemed odd to me that, you know, I'd say, hey, let's get our taxes going. He goes, well, I'm going to be a little bit late.
The Ramsey Show
It’s Never Too Late to Clean Up a Financial Mess
You know, you go ahead and do it this way. And I said, okay. And then it finally really just started gnawing at me last year. And when I found out about that.
The Ramsey Show
It’s Never Too Late to Clean Up a Financial Mess
I want him to, and it's been over a year, and now I'm going to have to make good on my word.
The Ramsey Show
It’s Never Too Late to Clean Up a Financial Mess
I have no idea. Just put your head in the sand, I guess, and hope that you've dodged the bullet for 20-plus years. Maybe you'll get lucky a little bit longer, but I can't take that chance.
The Ramsey Show
It’s Never Too Late to Clean Up a Financial Mess
No, I found out that I had just gotten a job a couple years back with a company I work with, and the salary that he was telling me what it was was actually like $20,000 less annually than what he is actually being paid.
The Ramsey Show
It’s Never Too Late to Clean Up a Financial Mess
Right. Blame myself for not seeing red flags sooner. That's right.
The Ramsey Show
It’s Never Too Late to Clean Up a Financial Mess
Yeah, and I've been very Dave Ramsey approach. Actually, he introduced it to me back after my last failed marriage, and I've been working really hard to be financially sound.
The Ramsey Show
It’s Never Too Late to Clean Up a Financial Mess
Yes, and so I've done the mourning of my marriage. I've moved on with that. I've been moving finances to a totally separate institution. We've never had a bank account together, anything like that. I don't want my children to be affected by this. I want to buy my house. I rent a house from my mother. I want to buy it.
The Ramsey Show
It’s Never Too Late to Clean Up a Financial Mess
I want to have that stability so that I can have my grandbabies come here someday.