Clayton
Appearances
The Ramsey Show
How The Baby Steps Protect You From Financial Uncertainty
It's right there on my number. Thank you. And I make about $58,000, $60,000 on my primary job, and I do a side hustle. But total, I make around 80 to 90, kind of depending on the year. And my wife makes around 72. The only thing that we owe on is our home. We both have MBA degrees. We have no consumer debt, no car loans, anything like that.
The Ramsey Show
How The Baby Steps Protect You From Financial Uncertainty
My home is currently worth probably around $300,000, and I owe about $195,000. We have two kids. And overall, life is good. You know, we're still in the process of trying to button everything up. We're investing 10% right now. I know I need to get that number to 15. My home's on a 15-year note. We're trying to get our kids college, you know, all that situated.
The Ramsey Show
How The Baby Steps Protect You From Financial Uncertainty
So there's nothing really on fire, per se. But in general... I really do believe what you guys teach. And I believe, you know, we, we, we give 10% of our income to the church. I mean, I'm a really big believer in living within your means. I'm not saying we're perfect by any means.
The Ramsey Show
How The Baby Steps Protect You From Financial Uncertainty
Right, right. Well, man, you know, I, I, I, I, I really do believe it and I, I appreciate it. But at the same time, um, Like, I think long-term, right? Yeah, but have you done the math? Huh?
The Ramsey Show
How The Baby Steps Protect You From Financial Uncertainty
Yes, sir. Yes, sir. Do the math. Right, right. Well, you know, man, it just... Did you do the math? Yes.
The Ramsey Show
How The Baby Steps Protect You From Financial Uncertainty
You know, I don't know, man. I just, like, I look at life, right, and I know comparisons are a piece of joy, and I don't, you know, I try not to go there in my head.
The Ramsey Show
How The Baby Steps Protect You From Financial Uncertainty
Right, right, right. Well, you know, it's okay if I give you some background, some more background information. Is that okay?
The Ramsey Show
How The Baby Steps Protect You From Financial Uncertainty
I just think, like, long-term, Dave, I think when I just see how everything is so expensive, and even when I pay off my home and I have all my retirement accounts, etc., I just, you know, I'm trying to really set my family up so like in 10 years my daughter will be 13, right?
The Ramsey Show
How The Baby Steps Protect You From Financial Uncertainty
And I'm trying to almost get ahead of the game where I can make sure we can go on big vacations, you know, take care of her college. And I realize, okay, I'll be a millionaire, but I just, it feels like everything's so expensive and it's such a long process. And I realize that, you know, wealth isn't obtained easy. I'm not trying to say that.
The Ramsey Show
How The Baby Steps Protect You From Financial Uncertainty
Hey, guys. Thanks for taking my call.
The Ramsey Show
How The Baby Steps Protect You From Financial Uncertainty
Hey, so I have a budgeting question. I'm trying to figure out what I should do for an extra $20,000 in income I'm going to receive three to four times this year from overtime work.
The Ramsey Show
How The Baby Steps Protect You From Financial Uncertainty
I'm not sure what baby step exactly.
The Ramsey Show
How The Baby Steps Protect You From Financial Uncertainty
Just savings, I have about 50K.
The Ramsey Show
How The Baby Steps Protect You From Financial Uncertainty
Yeah, I'm maxing them out. It's more like 25% at the moment. Okay.
The Ramsey Show
How The Baby Steps Protect You From Financial Uncertainty
Yeah, I owe $200 on my home, and right now I'm putting an extra $400 a month towards the principal.
The Ramsey Show
How The Baby Steps Protect You From Financial Uncertainty
Well, depending what this OT should be close to about 200 this year.
The Ramsey Show
How The Baby Steps Protect You From Financial Uncertainty
Okay. Yeah, that's kind of what I've been leaning towards, too. I don't like having it hang over my head, but I was also... Wondering if I should consider a side brokerage account.
The Ramsey Show
How The Baby Steps Protect You From Financial Uncertainty
Hey, sir. How are you guys?
The Ramsey Show
How The Baby Steps Protect You From Financial Uncertainty
Awesome, man. Well, you know, first of all, I just want to say it really is an honor to speak to you guys. I'm a huge fan of the show. I've watched countless YouTube clips, et cetera, and I think you guys are out there changing lives, so I want to start off with that.
The Ramsey Show
How The Baby Steps Protect You From Financial Uncertainty
Absolutely. Well, you know, I'll kind of start from a broad overview, and I'll kind of break it down if that's okay with you. Just, you know, my broad overview question, Dave, is really just how not to get discouraged in the wealth building process. I'll give you some background information. I'm 27 years old. My wife is 30. We have a combined net worth of around probably $200,000 or so. Wow.