Ken Coleman
Appearances
The Dr. John Delony Show
Bonus Episode: Things I’ve Never Talked About Before
Oh, yeah. I mean, there's no question that financial freedom makes dealing with this a lot easier.
The Dr. John Delony Show
Bonus Episode: Things I’ve Never Talked About Before
This other stuff. Yeah. Well, that's a good segue. U.S. Surgeon General under the Biden administration, this is a direct quote, widespread loneliness in the U.S. poses health risks as deadly as smoking up to 15 cigarettes a day, costing the health industry billions of dollars annually.
The Dr. John Delony Show
Bonus Episode: Things I’ve Never Talked About Before
I would also say a little bit of research would yield that there's billions of dollars of productivity being lost in American companies as well. I would say hundreds of billions of dollars. Loneliness increases the risk of premature death by nearly 30%. And it's revealed that poor social relationships had a greater risk of stroke and heart disease.
The Dr. John Delony Show
Bonus Episode: Things I’ve Never Talked About Before
So people that just have very, very poor relationships, meaning nonexistent or the ones that exist are very unhealthy. That's unbelievable. The greatest cause of loneliness is often considered to be a lack of meaningful social connections. This was interesting. It went on to list several factors. I'm bringing this one up because one of them was transitions. Yeah.
The Dr. John Delony Show
Bonus Episode: Things I’ve Never Talked About Before
You talk a lot about the digital stuff and the phones, and it was one of the main causes, which is we can just be distracted by all of our electronic and digital devices. But the one that stood out to me was transitions.
The Dr. John Delony Show
Bonus Episode: Things I’ve Never Talked About Before
And one of those is you just pack up and move. That's one. So I was thinking about that. So meaningful connection, it's not happening because of a transition. So maybe you've moved across country or one state over or a county over. Mm-hmm. Then there's your kids change schools. I've been through that one.
The Dr. John Delony Show
Bonus Episode: Things I’ve Never Talked About Before
When you're a parent of a kid and you get locked into a school, there's community that you just become a part of. And then you transition. Now it's like, oh. And so Stacy and I went through that. We had great community at our oldest son's school. Our middle son was there. He decides he wants to go to another school. He does.
The Dr. John Delony Show
Bonus Episode: Things I’ve Never Talked About Before
And I remember showing up the first couple of football games and we were just kind of like, Stacy and I together felt like, oh, I just don't know anybody. We sat over here. So I'm pointing this out to say, if you're watching this or listening and you're in a state of transition, maybe a divorce, whatever the transition is, I'm going from here to here.
The Dr. John Delony Show
Bonus Episode: Things I’ve Never Talked About Before
That jumped out to me, John, because I think we kind of look at the other culprits of lack of meaningful connections.
The Dr. John Delony Show
Bonus Episode: Things I’ve Never Talked About Before
So what's that look like? Give us a real practical—pick a transition, go first. What's that look like?
The Dr. John Delony Show
Bonus Episode: Things I’ve Never Talked About Before
85% of affairs start at work. Workplace, baby. When does risking, not just your marriage, but your job?
The Dr. John Delony Show
Bonus Episode: Things I’ve Never Talked About Before
Yeah, there's got to be something.
The Dr. John Delony Show
Bonus Episode: Things I’ve Never Talked About Before
So good. I'm glad we covered that. This show is sponsored by BetterHelp. You've probably heard people talk about different kinds of flags in relationships. Red flags, green flags, even beige flags. It's hard enough to keep track of what they're all supposed to mean, much less keep them in mind when you're trying to balance relationships with health, family, and work. So here's a tip.
The Dr. John Delony Show
Bonus Episode: Things I’ve Never Talked About Before
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The Dr. John Delony Show
Bonus Episode: Things I’ve Never Talked About Before
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The Dr. John Delony Show
Bonus Episode: Things I’ve Never Talked About Before
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The Dr. John Delony Show
Bonus Episode: Things I’ve Never Talked About Before
This is the data. 85% of affairs start at work. Workplace, baby. One in five employees confess to being unfaithful with a colleague. When does risking, not just your marriage and your relationship with your kids, But your job.
The Dr. John Delony Show
Bonus Episode: Things I’ve Never Talked About Before
Yeah, you've got to be friendly. You've got to go be weird. And then figure out who do I actually want to be friends with. All right. I'll put you on the spot. Okay? Just describe. It doesn't have to be fancy. What do you want?
The Dr. John Delony Show
Bonus Episode: Things I’ve Never Talked About Before
Well, I'll just say real quick to that. The reason I ask that question is because now you know what you need. So now you know what you're looking for. And those friends are going to be very rare because you need a truth teller. Someone who's very blunt. They're very comfortable with confrontation because confrontation doesn't require anger.
The Dr. John Delony Show
Bonus Episode: Things I’ve Never Talked About Before
Confrontation is just simply I'm going to confront what I see and what I hear, and I'm going to throw my point of view at it. So not everybody's comfortable with that. So as you begin to navigate relationships with other men out there, you ask enough questions. You're so inquisitive that you figure out pretty quickly, oh, this guy, he's not that.
The Dr. John Delony Show
Bonus Episode: Things I’ve Never Talked About Before
So if you're needing somebody like that in your life, you got to search them out. But the way you do it is not walk around going, hey, what's your level of confrontation? How do you feel about that? No, it's just you're finding out, okay, where would some of those men be, by the way? But I also think you have to be the guy.
The Dr. John Delony Show
Bonus Episode: Things I’ve Never Talked About Before
So I think that idea there, it's... Yeah, and I just add one thing.
The Dr. John Delony Show
Bonus Episode: Things I’ve Never Talked About Before
I wrote that down. I can't say that enough. And you got to do it enough. Right. Not just go first, but keep showing up.
The Dr. John Delony Show
Bonus Episode: Things I’ve Never Talked About Before
We're talking about this feels like a massive risk.
The Dr. John Delony Show
Bonus Episode: Things I’ve Never Talked About Before
So I want to dig. And this is fun because while I know you and I know a good amount about you, I do not know about specific pain from your past. And I really believe – That our pain, of course, shapes us. But I know it drives a lot of people like us. And I'm sitting here today going, in the middle of therapy, going, my drive is completely from some past pain. So I want to know, what drives you?
The Dr. John Delony Show
Bonus Episode: Things I’ve Never Talked About Before
What's going on there?
The Dr. John Delony Show
Bonus Episode: Things I’ve Never Talked About Before
Yeah, that's the motivation.
The Dr. John Delony Show
Bonus Episode: Things I’ve Never Talked About Before
Was that a result of comparison? Meaning you saw that with your brother and sister or was it, and I'm not trying to pick on parents. Well, I'm not, I don't know. I guess my question is, is that a result of the comparison or is it more a result of something your mom or dad said or did that you felt like, oh, I'm on the totem pole and I see where I'm at. They put me there. I'm curious.
The Dr. John Delony Show
Bonus Episode: Things I’ve Never Talked About Before
Was it a wounding moment?
The Dr. John Delony Show
Bonus Episode: Things I’ve Never Talked About Before
He thought punk rock and he was scared. Does he think you're gonna be a criminal?
The Dr. John Delony Show
Bonus Episode: Things I’ve Never Talked About Before
A little toilet paper after the football game on Friday night. There you go.
The Dr. John Delony Show
Bonus Episode: Things I’ve Never Talked About Before
So now doing what you do, plus you've been in therapy, what is the voice that came from that or the wound that came from that? Because you said you locked in on that.
The Dr. John Delony Show
Bonus Episode: Things I’ve Never Talked About Before
He's not going to support me.
The Dr. John Delony Show
Bonus Episode: Things I’ve Never Talked About Before
So what do you think looking back? that you felt in that moment? What is that voice that developed out of that?
The Dr. John Delony Show
Bonus Episode: Things I’ve Never Talked About Before
So that was the alternative. Right.
The Dr. John Delony Show
Bonus Episode: Things I’ve Never Talked About Before
I want to follow up to where we are because I know in this room, even though I'm looking at these men and women and there are some confident people, but I just know from the data that one of the biggest search terms in the world of work is imposter syndrome.
The Dr. John Delony Show
Bonus Episode: Things I’ve Never Talked About Before
Okay. And I was going to say I've got my insecurity. So I want to ask you, what is that insecurity? What's that? You say that.
The Dr. John Delony Show
Bonus Episode: Things I’ve Never Talked About Before
Let me ask you this. Putting you on the spot, but you and I sit in this stupid role that we get to play and get paid for it. It's the last great loophole of mankind as YouTuber dudes. I know, right. Where people, for whatever reason, care about what we say or they look at us and go, okay.
The Dr. John Delony Show
Bonus Episode: Things I’ve Never Talked About Before
But I just have found that every biography I've ever read of a great woman or a great man, every biography, every one of them, There's enormous strength that you end up learning about, and that's why they got a book about it. But the strength came from massive struggle, massive struggle. I don't care if it's Abraham Lincoln. I don't care who it is.
The Dr. John Delony Show
Bonus Episode: Things I’ve Never Talked About Before
What are you struggling with right now that you're willing to share?
The Dr. John Delony Show
Bonus Episode: Things I’ve Never Talked About Before
Of course it happens at work. Right, because you're not getting it somewhere. And so now all of a sudden you start to project that, and you might actually get it from another unhealthy worker. That's what I'm hearing. Because my point is, don't we know that that's a risk and yet we still go, oh, I just feel so good?
The Dr. John Delony Show
Bonus Episode: Things I’ve Never Talked About Before
So that's that constant struggle?
The Dr. John Delony Show
Bonus Episode: Things I’ve Never Talked About Before
It's y'all two versus the customer. It's y'all two versus the salesman. Right. And by the way, everybody's got their makeup on. Everybody looks pretty good.
The Dr. John Delony Show
Bonus Episode: Things I’ve Never Talked About Before
We're smiling. We're joking. We're flirting, whatever.
The Dr. John Delony Show
Bonus Episode: Things I’ve Never Talked About Before
It feels like when I saw this data, John, I guess that's what I'm asking. I don't want to be judgmental. I'm not judging. But I'm wondering— Because what I want to get to is how do we guard against this? You know, I was raised in a world where it's like you never ride in a car with a woman that's not your spouse. I was raised in a world like you don't have a meeting in a room with a closed door.
The Dr. John Delony Show
Bonus Episode: Things I’ve Never Talked About Before
You know, like all those things. And thankfully, Dave and I are exactly the same on that. But that was drilled into me. Gotcha. That seems insane. Yeah. To a lot of people. I will tell you, there will be people who watch this and it will immediately create conversation, which I'm fine with.
The Dr. John Delony Show
Bonus Episode: Things I’ve Never Talked About Before
That was a really great, wise answer, and I was just thinking of an Amy Grant lyric. Yes. Stop for a minute, baby, I'm so glad you're mine. Just so that. I know, I feel really good about that.
The Dr. John Delony Show
Bonus Episode: Things I’ve Never Talked About Before
All right, John, I want to show you something. My friend Alex Ramosi, very popular, had a hot take on our next topic. So I'm going to let you watch it first, and then I'll... throw an opinion at you.
The Dr. John Delony Show
Bonus Episode: Things I’ve Never Talked About Before
Amen. So the birth rate is the lowest it's ever been. It's plummeting. It's plummeting. And so here's Alex taking a hot take. I did some research. There's not a clear study that would support what he says.
The Dr. John Delony Show
Bonus Episode: Things I’ve Never Talked About Before
But then when we get back to the data, we have got to guard ourselves to the point that if I find a female coworker attractive, I have got to put a boundary up, in my opinion.
The Dr. John Delony Show
Bonus Episode: Things I’ve Never Talked About Before
No, I love it. I got to jump in real quick. Okay. Because you and I have looked at this. We were talking about this the other day. In that room, we had a whiteboard and you were- Oh, yeah, yeah, yeah. It's, it's, it's- Undeniable that you're healthier. Everything in your life is better. And so that's wealth. And especially men. Yeah. So forget net worth. I want to know how healthy I am.
The Dr. John Delony Show
Bonus Episode: Things I’ve Never Talked About Before
Well, I think he's right because you know this. Parenting reveals a level of strength that you previously have not experienced. And you've got to come home. You've got to come home from the disco. Right, but you know what I'm saying? Marriage is one thing. Yes. Marriage is a different thing.
The Dr. John Delony Show
Bonus Episode: Things I’ve Never Talked About Before
animal in the sense of, I always felt responsibility to provide for Stacey and give her a great life and I want to make her happy, right? But there's this baton that you start thinking about. I'm not passing a baton to Stacey. I'm passing a baton to my kids. It's a different thing. And I just think that it gives you a level of strength and fortitude, tenacity when
The Dr. John Delony Show
Bonus Episode: Things I’ve Never Talked About Before
When you got mouths that are relying on you and then a future. Yes. Do you know what I mean? Dude, this is – I had Josie for two hours in my arms. True story. Two hours. She's two hours old and I'm holding her in the hospital. And I literally – no one else was around me and I literally had a thought. I wonder what weddings are going to cost when she's – Now, again, neurotic, yeah, sure.
The Dr. John Delony Show
Bonus Episode: Things I’ve Never Talked About Before
Unnecessary, sure. No. But reality, absolutely. That's what I mean. There is a heightened alert that comes on you when you're a parent. So I think Alex is absolutely right. I mean, it's just flat out. There's some responsibility that you get that you go, I got to step up. I know.
The Dr. John Delony Show
Bonus Episode: Things I’ve Never Talked About Before
Oh, yeah. I mean, dude, that's absolutely right. I mean, this idea that every human, I think, needs to feel – I don't want to be insensitive here because I know there are people that are watching this that are single and may never have kids. But I do think there is something special about feeling the primal protection.
The Dr. John Delony Show
Bonus Episode: Things I’ve Never Talked About Before
You can feel it with... That's right.
The Dr. John Delony Show
Bonus Episode: Things I’ve Never Talked About Before
For what? Well, that brings up an interesting point. It's not that I disagree with you. I think that's the right question. But I also say in Michael Jordan's case, let's say that he didn't have friends and he did have – he was divorced and all that stuff. But that's like saying that you can't be super successful in your profession, in your calling. That's right.
The Dr. John Delony Show
Bonus Episode: Things I’ve Never Talked About Before
And not be super successful in your home. And I think that's the question. What's the balance? So I would say a healthy Michael Jordan. My hot take is a healthy Michael Jordan or a Michael Jordan who says marriage is forever.
The Dr. John Delony Show
Bonus Episode: Things I’ve Never Talked About Before
Till death do us part.
The Dr. John Delony Show
Bonus Episode: Things I’ve Never Talked About Before
So I'm the richest guy, richest athlete in the world, the most famous athlete in the world, and I can get the best counselors. And I can also say to the Bulls, I'm not going to play in the Olympics this year because – or I can say to the Olympic committee, I'm going to go be with my wife. I'm not going to play golf because I'm going to – that's right.
The Dr. John Delony Show
Bonus Episode: Things I’ve Never Talked About Before
So I agree that it's for what, but I also would say Michael Jordan represents one of the all-time greats who had a burning desire because he was overlooked. Yeah, yeah. And so if we started off a conversation with Michael Jordan like we did with you, what drives you? Well, what drove Michael Jordan?
The Dr. John Delony Show
Bonus Episode: Things I’ve Never Talked About Before
Well, he's not talked a lot about his relationship with his father other than it was good, but then we don't know 100% what's going on. Here's a guy that's got a great gift. Yep. But he also has tremendous drive. Yep. Somewhere, though, it didn't exist.
The Dr. John Delony Show
Bonus Episode: Things I’ve Never Talked About Before
Roy Williams, who was an assistant coach at North Carolina under Dean Smith, has said publicly he used to get on Jordan for not working hard enough in practice. Somewhere, something changed because everybody who talks about the Bulls team said he outworked us all. All I'm saying is that we have to be able to bear the responsibility, the burden of this calling, whatever that is.
The Dr. John Delony Show
Bonus Episode: Things I’ve Never Talked About Before
If you want to be a stay-at-home mom, Awesome. But ask the question for what? For what? It's about the contribution. There you go. If it's for glory, I'm going to tell you, it's going to be a vapor.
The Dr. John Delony Show
Bonus Episode: Things I’ve Never Talked About Before
No, that's really great. It's a really hard question. I don't know how you just pick two tools. But I would say self-awareness. I think that the epidemic of just kind of cluelessness of leaders, they're just unaware. Not bad people. They're just unaware of what's going on with them and how they're affecting downstream. It's trickle-down leadership.
The Dr. John Delony Show
Bonus Episode: Things I’ve Never Talked About Before
Well, you've got to have a healthy – that's right. However, I just want to point out that there's no question there's some unhealthiness going on. And so now it's medication. But I also think we could all do ourselves a favor. I'm speaking on behalf of guys. Yes. Okay? This will be shocking to everybody what I reveal right now, but I have no idea what it's like to be a woman.
The Dr. John Delony Show
Bonus Episode: Things I’ve Never Talked About Before
and it starts with self-awareness, would be a massive tool. And I agree with everything you said. And other than that, this is based on Gallup. I mean, Gallup says that the three human needs that must be met, purpose and meaning at work, recognition for your unique contribution, and third, a relationship with their leader.
The Dr. John Delony Show
Bonus Episode: Things I’ve Never Talked About Before
That tool, the tool of self-awareness and then awareness of your team. That would be, if I had to simplify it to those two, that's what I would say. I loved your answer. One final question. You mentioned earlier, and I'm glad you did because I wanted to get to it, because I see it in you when we talk at our desks. The anxiety guy, not labeling you, but this is the world you're in.
The Dr. John Delony Show
Bonus Episode: Things I’ve Never Talked About Before
You're really concerned. I see it on you when we talk about artificial intelligence. Oh, yeah. And it's everywhere. There's in the headlines that is AI going to remove tons and tons of jobs? Is AI going to make us less human? Yada, yada, yada. Why are you so concerned about it? Or shall I say, how? Um...
The Dr. John Delony Show
Bonus Episode: Things I’ve Never Talked About Before
But I do know what it's like to be a guy. And as a guy, I don't care how healthy my relationship is. Guys are guys. We're simple creatures. And a woman can be completely innocent in anything she says or does. But as a dude, if she's attractive to you, you can misunderstand it and act like adult. Yes.
The Dr. John Delony Show
Bonus Episode: Things I’ve Never Talked About Before
So it's cool. Well, I don't know if I disagree, but I wonder. Sure. I think it's a valid take. I could see that happening. But I wonder if it will only... It could, yes, it could. Increase our need for humanness. And so AI ends up, instead of being this great thief of our humanness, becomes the thing that— An amplifier, yeah.
The Dr. John Delony Show
Bonus Episode: Things I’ve Never Talked About Before
So can I— Now that's in your everyday life. Sure. You can't say that and not say this, but I am really scared about World War because now all of a sudden it becomes a lot easier to create a war because there's no human capital. When you start getting robots shooting each other, we could be collateral damage.
The Dr. John Delony Show
Bonus Episode: Things I’ve Never Talked About Before
That part – And I'm not trying to be dark. That concerns me. Well, I think—so let's go back to 150 years. But I tend to side with Sheila. I think it's going to actually make us—in fact, I think the human-centric jobs will get paid more than ever.
The Dr. John Delony Show
Bonus Episode: Things I’ve Never Talked About Before
Yeah, but they cannot sit with you knee to knee. That's it. That's it. And pull the string. That's it. That unpacks a wound that is 30 years old.
The Dr. John Delony Show
Bonus Episode: Things I’ve Never Talked About Before
I think of scripture, right? And, you know, very clear, the admonition is today has enough worry of its own. It's a problem for future, John. Do not worry about tomorrow. You got to be present and learning to be where you are. And I think that's absolutely great. Well, folks, I started off the conversation as we do every time reminding you that
The Dr. John Delony Show
Bonus Episode: Things I’ve Never Talked About Before
I agree. Again, I'm only speaking as a dude here on that. So I think it's really important, but I think that this is scary stuff. Yeah. And people are blowing up their life.
The Dr. John Delony Show
Bonus Episode: Things I’ve Never Talked About Before
One conversation, one question has the ability to open up our minds, open up opportunities to allow us to learn, to grow, to do. And I took so much from this today, but I wrote it down earlier. When you see me scribbling, that's the big thing.
The Dr. John Delony Show
Bonus Episode: Things I’ve Never Talked About Before
The thing I'm going to work on the next week, the next two weeks, and I'm challenging you to consider how you could use this, was when John said, be the first. So I wrote down on my notes, be the first to be friendly. It's so important that we as humans, we were just talking about AI and our humanness, but my life is going to be better because of the quality of the relationships in my life.
The Dr. John Delony Show
Bonus Episode: Things I’ve Never Talked About Before
And so no matter where I am, no matter what role I'm playing, if I can always have the mindset to be the first, just to be human, I think that's going to make me better and hopefully the people that I get to do life with better. So you do what you want with that, but that's what I'm working on this week.
The Dr. John Delony Show
Bonus Episode: Things I’ve Never Talked About Before
Hey, if you enjoy this episode and you would like to join us in studio for a live recording, check out the link in the show notes for up-to-date info on guests, dates, and opportunities. Well, friends, I know I'm better for hanging out with my pal. I'm glad you got to hang out with my pal. But let's all thank Dr. John Delaney. Thank you, man. Appreciate you. Thank you.
The Dr. John Delony Show
Bonus Episode: Things I’ve Never Talked About Before
The whole thing blows up. All right, let's talk about another massive issue in the workplace. And that is... the stress levels in the American workplace. You and I have talked a lot about this. There is this weird dynamic between a stressed out leader and then how they dump that stress on the people they work with. This is not to dump on leaders because you and I both work with leaders.
The Dr. John Delony Show
Bonus Episode: Things I’ve Never Talked About Before
We speak to leaders. We love leaders. Yeah. But I want you to comment on this as a guy who's smack dab in the middle of mental health stuff all the time for the person who is leading right now. Let's start with leaders for a second. I want to get your quick perspective. The person who's leading, and maybe they're not very healthy.
The Dr. John Delony Show
Bonus Episode: Things I’ve Never Talked About Before
What do they need to hear from you right now on the impact they're having on people? I got some hot takes on this. Is that okay? Yeah, I'd like quick and hot. Let's go.
The Dr. John Delony Show
Bonus Episode: Things I’ve Never Talked About Before
Does that make sense? It does. And I will say this, and... We've got to understand there's two things you can do. When you're in a situation where your leader, your boss, is so unhealthy in their own world, personally, and as well if they've not been trained well professionally, because that's a big issue. I say this a lot. Bad bosses doesn't make a bad person. They're not always bad people.
The Dr. John Delony Show
Bonus Episode: Things I’ve Never Talked About Before
Here's what you've got to do. You have two responses. One – So you say, all right, I can't do this under them, and I'm going to find another place, and I'm going to be patient, and I'm going to find a healthy culture because it does exist. Absolutely. All right. The second thing is, wait a second, and I love what you just said. I'm not going to give them the power that I've always given them.
The Dr. John Delony Show
Bonus Episode: Things I’ve Never Talked About Before
In other words, if I learn how to – Serenity prayer, right? Change the things that I can, the courage to accept the things I cannot, and you work on getting better at it. In other words, if it's not abusive, if it's not toxic, there's a difference between abuse and toxic leadership. Correct. Sometimes it's just bad. That's right. But can I learn how to navigate that for the season of life I'm in?
The Dr. John Delony Show
Bonus Episode: Things I’ve Never Talked About Before
And I'm saying that because I want a lot of people to realize option two is far more readily available than people realize, but we don't use it. That's right. And I want people to understand if you can learn how to get healthy yourself or get some tools to be able to deal with a difficult person, hello, our friend Henry Cloud and boundaries and things of that nature, you can still succeed.
The Dr. John Delony Show
Bonus Episode: Things I’ve Never Talked About Before
But I love what you said. We've given too much. To our leaders. We rely on them for too much.
The Ramsey Show
Be the Tortoise Not the Hare
The right questions are the key to unlock personal and professional potential. That means if you're not where you want to be, you are not asking the right questions. I'm Ken Coleman, and this is what my new show, Front Row Seat, is all about. Over my career, I've had the distinct privilege to interview successful people from all walks of life and to coach over 10,000 professionals who wanted more.
The Ramsey Show
Be the Tortoise Not the Hare
What sets successful people apart is a never-ending desire to learn and grow. Each week I'll be joined by industry leaders and world-class experts to have a conversation about how to get better, move up, and lead well in work and life. But the best part of this show is you get to be a part of the conversation.
The Ramsey Show
Be the Tortoise Not the Hare
Live in studio, we'll have a group of professionals just like you who have the power to ask questions and steer the discussion in real time. It's an opportunity to get real answers to real questions. like how to make the right decisions, have hard conversations, live a balanced life, and discover your next steps to growth.
The Ramsey Show
Be the Tortoise Not the Hare
Join us every Tuesday for conversations that are guaranteed to surprise, challenge, and inspire you. Check out Front Row Seat wherever you get your podcasts.
The Ramsey Show
Don’t Let Panic Influence Your Financial Decisions
I would take the chunk left over just to be very clear, the chunk left over from paying off his debt. So you're going to sell his house, the proceeds pay off his debt. The rest of it goes into a high yield savings account just so we can see what the future holds. I think there's so many unknowns that are out there. I want to be in a strong as possible cash position.
The Ramsey Show
Don’t Let Panic Influence Your Financial Decisions
And it's not your responsibility to do that. You guys are already trying to get out of debt. I don't want it to slow your momentum. So getting into a house and all the expenses, I agree with Jade. I'd get a better rental situation if dad's going to be with us. Because, see, that's temporary, too.
The Ramsey Show
Don’t Let Panic Influence Your Financial Decisions
You don't know what his health situation is. God forbid something go worse. But I don't think that's out of the realm of reality right now. So the reason I just want you to know why we're giving that advice. This is a this is an onion. And right now we want to have as many stable options as possible. That's why we're saying don't buy a house with that money. Okay. Does that make sense?
The Ramsey Show
Don’t Let Panic Influence Your Financial Decisions
We don't want this. You're already inconvenienced, and this can really create hardship on you and your husband. So let's not make it worse, is my point. Correct.
The Ramsey Show
Don’t Let Panic Influence Your Financial Decisions
Then I would keep the boundary of not using his leftover money to buy a house for us. I would rent and let's see what the future holds.
The Ramsey Show
Don’t Let Panic Influence Your Financial Decisions
okay yeah stability here jade yeah is essentially having as many options as possible that's right you have such an unknown topsy-turvy situation like that where you don't know which way it's going yeah i want to get a wide base financially and just kind of hold and and just kind of hang on through the storm you're right you're right you taught me that on the ramsey cruise she saved me in a pickleball match she saw me i was all over the place she said get a wide base coleman and
The Ramsey Show
Don’t Let Panic Influence Your Financial Decisions
All right, folks, how you doing on the baby steps? If you're new to us, you don't know what the baby steps are. Well, this is also a good thing for you. Head to the show notes and click on the link titled, are you on track with the baby steps and complete the quiz. And it's going to let you know your progress status and you get a personalized plan on how to start moving through the baby steps.
The Ramsey Show
Don’t Let Panic Influence Your Financial Decisions
This is so important. So again, the link in our show notes will get you there. Let's go to Ann in Phoenix, Arizona. Ann, how can we help?
The Ramsey Show
Don’t Let Panic Influence Your Financial Decisions
Congratulations. First of all, let's not just fly by Baby Step 7. How does that feel?
The Ramsey Show
Don’t Let Panic Influence Your Financial Decisions
OK. A couple of quick things. One, I want you to we were on the Ramsey cruise. We had all these folks from the tribe that, you know, are baby steps four through seven. And one of the things that we kept coming into, it was funny. We were talking about it on stage. We saw it in conversations on the boat. But a lot of baby step seven folks are still trying to adapt from intensity to intentionality.
The Ramsey Show
Don’t Let Panic Influence Your Financial Decisions
And you're so, yeah, you resonate with that. And you're so new at this, right? You've been babysat seven for two to three months. So number one, it's going to take time for your nervous system to adjust because you have been right. Yeah. And so I'm just calling it out to go. This is normal. Okay. Okay. It's, it's a function of how intentional you have been with intensity.
The Ramsey Show
Don’t Let Panic Influence Your Financial Decisions
Now we want to begin to downshift from all this intensity and go, here's the good news. We're going to be great. Now we want to be intentional and take care of our daughter. So give us a snapshot of what you guys have in retirement accounts as of today.
The Ramsey Show
Don’t Let Panic Influence Your Financial Decisions
Okay. Does he have any, or are you just giving us the totals?
The Ramsey Show
Don’t Let Panic Influence Your Financial Decisions
This is the Ramsey Show, where America hangs out to have a conversation about life. Specifically, your money, your profession, and your relationships. Alongside the fabulous, incomparable Jade Warshaw, I'm Ken Coleman. We're going to be together for you all today. Jade will lead out on what to do with the money, and I'll help out on how to make more money.
The Ramsey Show
Don’t Let Panic Influence Your Financial Decisions
And you're about ready to tell us something else. Go ahead.
The Ramsey Show
Don’t Let Panic Influence Your Financial Decisions
That's great news. What in your mind has been the age by which you said, I'm out of here. See you later, folks.
The Ramsey Show
Don’t Let Panic Influence Your Financial Decisions
So 1.4, that doesn't include the house, right?
The Ramsey Show
Don’t Let Panic Influence Your Financial Decisions
Right. So that gets us at, uh, let's just round up to 1.9. So we're, we're sniffing two mil at that stage. Yeah.
The Ramsey Show
Don’t Let Panic Influence Your Financial Decisions
Yeah. So what's going on here? Jade has got her trusty calculator out, and she's doing a little investment calculator to run these numbers. What do you got, Jade?
The Ramsey Show
Don’t Let Panic Influence Your Financial Decisions
Yeah, yeah. Well, the only way to change this is you're making a good salary. The only way to change this, in my mind, is your husband to get a little bit better paying job. I appreciate what he's doing. But if he can make, what's his income? I'm guessing it's what, less than 40?
The Ramsey Show
Don’t Let Panic Influence Your Financial Decisions
But you said caretaking of some sort. What does he make a year? Give me an average, roughly.
The Ramsey Show
Don’t Let Panic Influence Your Financial Decisions
Okay, listen, I don't want to be unkind, and this is not unkind, but I'm going to shoot you really straight. Are you okay with that? Yeah. Okay.
The Ramsey Show
Don’t Let Panic Influence Your Financial Decisions
If I was hanging out with your husband, I'd pull him aside and go, hey, bro, no disrespect, but your wife is seriously crushing it, and you guys have a really unique situation, and I'm not judging you at all, but you can make way more than $10,000 to $15,000, number one, and number two, you should be. Let's just say he listened to me. He's like, you're right, Ken. I need to step up.
The Ramsey Show
Don’t Let Panic Influence Your Financial Decisions
Let's say he got serious about selling real estate and he made $100,000 and all of his money went to juicing this retirement. If he does that for another 10 years, that's a million dollars, $100,000 a year. I'm not pulling crazy numbers out of my you-know-what in my hand. Yeah, yeah. All right. So this is all possible. That's the answer. We put an extra million dollars in this situation, Jade.
The Ramsey Show
Don’t Let Panic Influence Your Financial Decisions
Now we don't have to worry about our adult child who is going to need special care.
The Ramsey Show
Don’t Let Panic Influence Your Financial Decisions
I don't know why he's not fired up to do this. I'm not judging him, Ann, but I am going to shoot you really straight and go, he should be making way more money and every nickel of it should be going into Jade's fancy calculators.
The Ramsey Show
Don’t Let Panic Influence Your Financial Decisions
You've done a great job. Replay that call for your hubs. Hopefully you don't get upset at me. You didn't mean any harm, Ken. No, no. I just think that that is a massive play right now. If I was in their shoes, that's exactly what I would be doing. Right.
The Ramsey Show
Don’t Let Panic Influence Your Financial Decisions
All right, tonight, Jade, Dave Ramsey and Dr. John Deloney back out on the road. This time they're in Durham, North Carolina. And this is a fun event. They just did the first one in Louisville. And do you say Louisville or do you say Louisville?
The Ramsey Show
Don’t Let Panic Influence Your Financial Decisions
Why did I have to look at your face?
The Ramsey Show
Don’t Let Panic Influence Your Financial Decisions
I don't know. I feel like I'm going to get in trouble if I answer that. Louisville. Louisville. And then they're in Atlanta on Friday night, so we've got two of these coming up. This is a great, great event if you feel trapped in the same patterns in your money and your relationships. Dave and John are doing a really fun event.
The Ramsey Show
Don’t Let Panic Influence Your Financial Decisions
And coming to Phoenix May 5th, Fort Worth May 7th, Kansas City May 9th. Oh, Kansas City sold out, according to my notes here. Nice. And Fort Worth is not far behind. So... You better move quick if you're in Fort Worth or the rest of those cities. RamseySolutions.com slash tour. RamseySolutions.com slash tour.
The Ramsey Show
Don’t Let Panic Influence Your Financial Decisions
If you're watching via YouTube or listening via podcast, click the link in the show notes and you can get the tickets there. Sarah is up now in Dallas, Texas. Sarah, how can we help today?
The Ramsey Show
Don’t Let Panic Influence Your Financial Decisions
Well, let me jump in. Let me jump in real quick. I'm so glad you're sharing that with us. But you aren't pathetic and you are going to have to forgive yourself. You know, the kids are doing their thing. That's going to all cycle out. I think a lot of this is a tremendous amount of guilt and shame over the kid who's trying to hurt themselves.
The Ramsey Show
Don’t Let Panic Influence Your Financial Decisions
And that's pretty dark. It's pretty dark stuff. And there's no way for you not to personalize your child's pain. There's just no way not to. So I don't have any fix with my words. It's impossible to fix, but I do hope you listen to me and you do forgive yourself on the things that maybe you should forgive yourself and then also realize that. You're not to blame for a lot of this stuff either.
The Ramsey Show
Don’t Let Panic Influence Your Financial Decisions
Blame for the financial decisions, sure. But who among us hasn't made dumb financial decisions when we weren't healthy?
The Ramsey Show
Don’t Let Panic Influence Your Financial Decisions
So you're a part of a pretty big tent. And I hope that helps you with shame. Let me move practically real quick to the first thing that came to my mind on the rent situation. If you're not involved in a local church, there's a church on every corner in your neck of the woods. And I would swallow any pride or whatever issues you have with faith.
The Ramsey Show
Don’t Let Panic Influence Your Financial Decisions
And I'd give the people of a good church a chance to help you. And I would go in and I would tell them your story. And I would be, if I were in your situation, looking for maybe an elderly couple, Jade, an older widow who's got some space over a garage. Right now, your kids can adapt to anything. And I know you can adapt to anything and just a safe place.
The Ramsey Show
Don’t Let Panic Influence Your Financial Decisions
She doesn't care about credit score or they don't care about credit score. But finding something like that, I just believe that when we ask for something like that, we can find it. When you seek, you find. And I would be going that route. I'm not saying that's the only route I want to bring Jade in, but that just popped into my mind for some reason, to give you a season to get stable.
The Ramsey Show
Don’t Let Panic Influence Your Financial Decisions
Because the fact of the matter is, if your kid's not hurting himself and you're not having to come back to where you are, you could have dug out of this, correct? Yeah.
The Ramsey Show
Don’t Let Panic Influence Your Financial Decisions
No, if you've got a church family, I'm saying go to them and say, I can't. do this alone in this circumstance. But once I can get my kid back, you know, on the rails and all that kind of stuff, then you can dig out of this because with your background, you can make good money. So this is temporary.
The Ramsey Show
Don’t Let Panic Influence Your Financial Decisions
On the other side of this, have you learned how to budget? Do you have? I know you're familiar with our materials, but how can we bless you today?
The Ramsey Show
Don’t Let Panic Influence Your Financial Decisions
That's what I thought. How old are you?
The Ramsey Show
Don’t Let Panic Influence Your Financial Decisions
Okay. And I don't normally ask a lady her age, but there was a reason that I asked. I want to leave you with this. I've already gave you the pep talk on shame and forgiveness, but I want to remind you that I don't think there's a tougher organism on the planet than a single mom. And you have already made it a long way.
The Ramsey Show
Don’t Let Panic Influence Your Financial Decisions
At the age of 40 with six kids, you've already proven to everybody who knows you that you're tough as nails. Am I right?
The Ramsey Show
Don’t Let Panic Influence Your Financial Decisions
Yeah. So hear me. You can do this. I love that you were so honest and vulnerable with this to say, hey, I know what the problem is, Jade and Ken. I just didn't budget. Well, guess what? That's something that's forgivable. And you can learn that. And now you were just trying to hang on to survive and you didn't know how to budget. Now you know how to budget. You're getting better at it.
The Ramsey Show
Don’t Let Panic Influence Your Financial Decisions
You're going to keep getting better at it. And when you get through this storm. You're going to come out on the other side, and I'm not saying you won't have tough days ahead, but you won't have to go backwards financially. There's no way I'm betting against you, Sarah. No chance. You got me? Yes. I mean, there's nothing you wouldn't do for those kids. Am I right?
The Ramsey Show
Don’t Let Panic Influence Your Financial Decisions
All right, so shoulders back, head up, forgive yourself. No shame in your game, Mama. And we got six kids that we got to take care of, one who specifically needs you. So you got to take care of you during this season. Get safe, get stable. You'll come out on the other side of this, and you're going to be fine. And your kids are going to talk about how great a mama you are too.
The Ramsey Show
Don’t Let Panic Influence Your Financial Decisions
So hold on to that, and we're here for you. Call back at any time. You got me?
The Ramsey Show
Don’t Let Panic Influence Your Financial Decisions
All right, head up, shoulders back. Great hour, Jade.
The Ramsey Show
Don’t Let Panic Influence Your Financial Decisions
A little tearjerker there at the end. It's tough stuff, but community matters, folks. It does. Can't do it alone. Community matters.
The Ramsey Show
Don’t Let Panic Influence Your Financial Decisions
This is the Ramsey Show, where America hangs out to have a conversation about their money, their profession, and their relationships. 888-825-5225 is the phone number to jump in. We'd love to hear from you today. Alongside the incomparable, fabulous Jay Rorschach and Ken Coleman, 888-825-5225 is the phone number. Tina starts us off in Tucson, Arizona. Tina from Tucson, how can we help?
The Ramsey Show
Don’t Let Panic Influence Your Financial Decisions
Feels like this might be a little bit of a divine appointment. Worship music to one of our clips, and now here you are, and I can tell you there are more options. But hit us with your story. Tell us your story and why. Yeah, go for it.
The Ramsey Show
Don’t Let Panic Influence Your Financial Decisions
Why? Again, I want to know your situation. Give us the details of your debt.
The Ramsey Show
Don’t Let Panic Influence Your Financial Decisions
And what I'm trying to ask you is, who do you owe this to? You owe $83,000 to who?
The Ramsey Show
Don’t Let Panic Influence Your Financial Decisions
Okay, now we're getting somewhere. What we're trying to do is, in order for us to help you, we've got to know who we owe the money to. So we've got two credit unions in the amount of $160,000.
The Ramsey Show
Don’t Let Panic Influence Your Financial Decisions
Okay. Sorry, Jade, I'm getting you some numbers here. So you're going to go from $85 to what, roughly?
The Ramsey Show
Don’t Let Panic Influence Your Financial Decisions
OK, I didn't know we were doing the math on the spot. OK, I'll do that math while Jay's helping out.
The Ramsey Show
Don’t Let Panic Influence Your Financial Decisions
Yeah, you can no longer allow this just to happen to you. You've let a lot of this happen to you. And I'm not beating up on you. I just want you to know we're going to have to change our mindset because that's really what's happened over the last three years. Well, this happened, this happened, this happened. And, you know, look, again, we're not judging you. We are where we are.
The Ramsey Show
Don’t Let Panic Influence Your Financial Decisions
We know where you are. The pay cut is going to be about $75 to $7,800. I did some quick math on that, all gross numbers. So not a huge amount, but when you start playing that out, it's about $600 a month and you need every penny of that $600 a month. So we cannot take a pay cut. You just can't. The idea of taking a pay cut and then going into bankruptcy is not a viable option.
The Ramsey Show
Don’t Let Panic Influence Your Financial Decisions
So I want to get right back to the core question at the beginning of the call. That is a horrible option for you. What we need to do is take the skill set you have plus the experience you have had in that industry that is transferable outside of your industry. It really is. You need a better paying job. And soon... And that's what the play is. And then you dig out of this.
The Ramsey Show
Don’t Let Panic Influence Your Financial Decisions
You do not have to file bankruptcy and further ruin your life. You can dig out of this. We've helped so many people do this. And I know you're new to us. But, Jake, I mean, we can do this. We can walk you through all this and get you out of this. But I'm going to give it back to her real quickly. But you have got to get very serious. I'm going to give you two things at the end of this call.
The Ramsey Show
Don’t Let Panic Influence Your Financial Decisions
I'm going to give you my book. Find the work you're wired to do. It's got an assessment with it. Take it. It's a 45 minute read that'll coach you through your results so that you can see what's out there for you. Okay. So I want you to have that. And I want to give you the book, The Proximity Principle as well.
The Ramsey Show
Don’t Let Panic Influence Your Financial Decisions
So you can start really making great connections because that's where your opportunity is going to come from. But you got to make that move fast.
The Ramsey Show
Don’t Let Panic Influence Your Financial Decisions
Uh-oh. I hate to admit this, but I don't always eat right. I know I need to eat more fruits and veggies, but sometimes I just have to pound some chips because they taste so good. That's why I love my Field of Greens. It helps me eat healthy when I don't have much time. And each fruit and vegetable in Field of Greens was doctor selected for a specific health benefit.
The Ramsey Show
Don’t Let Panic Influence Your Financial Decisions
Heart, lungs, kidney, metabolism, even healthy weight. And folks, I ain't getting any younger. It's super easy to mix with water. And here is the great part of it. I thought it might taste like grass, but it tastes great. And only Field of Greens makes this promise. Your doctor will notice your improved health or your money back.
The Ramsey Show
Don’t Let Panic Influence Your Financial Decisions
So go to fieldofgreens.com slash Ramsey for 20% off your first order. That's fieldofgreens.com slash Ramsey to save 20% on your first order.
The Ramsey Show
Don’t Let Panic Influence Your Financial Decisions
Tyler is up next in Knoxville, Tennessee. Tyler, how can we help?
The Ramsey Show
Don’t Let Panic Influence Your Financial Decisions
Hold on, hold on, hold on. The money was a tax refund for money that you did, like W-2 money.
The Ramsey Show
Don’t Let Panic Influence Your Financial Decisions
You're being very nice. I've heard enough. Listen, Tyler, there's two things. Okay. Number one, I actually get your instinct. And I your instinct to take that money and put it on debt. Great instinct.
The Ramsey Show
Don’t Let Panic Influence Your Financial Decisions
I'm getting there. I'm getting there. I'm getting there. I'm saying it was the right instinct. But you should have communicated with the parents because they're involved in this financially. You can do both and also be frustrated with them for all the stuff you're frustrated with them about and how they handle money. I see all of this together. But the reality is, is that you and Jade's right.
The Ramsey Show
Don’t Let Panic Influence Your Financial Decisions
You're 22 now. So now we begin the separation and now we create a little bit better boundaries. Yeah, you're right. And she's right. You should have communicated earlier. uh, much better on this deal. What's done is done.
The Ramsey Show
Don’t Let Panic Influence Your Financial Decisions
But let me be very clear. You need to stop saying they're financially abusing you because this is not anywhere close to it. I'm not, it's just disrespect. It's dramatic. And by the way, words matter. So when we think that our mom and dad are abusing us and then we tell somebody, uh, and we tell two hosts on a big giant show, then we've now become, um,
The Ramsey Show
Don’t Let Panic Influence Your Financial Decisions
We've come to believe something that's just simply not true. And then that colors how you handle things. They already handle money in a way that will continue to create tension for you going forward. That's clear. And by the way, good on you, young man, to go, I don't want to live that way.
The Ramsey Show
Don’t Let Panic Influence Your Financial Decisions
So I like the direction you're headed. All that to say, stop with this nonsense. Stop thinking it. Stop saying it. Stop feeling as though your parents are abusing you. They're not. And you just need to start to do things differently.
The Ramsey Show
Don’t Let Panic Influence Your Financial Decisions
This is a great point because they overextend themselves all the time. And that's why that tension around money is always there. They have a scarcity mindset. That's what you described. And so tied to that, it's going to make your life miserable. So we prefer you not to have any more student loans. But if you're going to do student loans, do it without mom and dad attached.
The Ramsey Show
Don’t Let Panic Influence Your Financial Decisions
Well, there's two ways to skin this one. Um, you know, there are a lot of people that would argue with me and debate me on, you need a degree in sports management. Um, And that's probably statistically true, not knowing that major super well. However, I know it's possible to get any of those jobs without a degree because I can point to example after example. You've got to get in.
The Ramsey Show
Don’t Let Panic Influence Your Financial Decisions
You've got to get in. You've got to sweep floors. You've got to be a janitor, and then you work your way up to doing some type of analyst work. So it's possible to get into sports management without a degree. But I can tell you that my partner is right today. Nobody cares where you get your degree from.
The Ramsey Show
Don’t Let Panic Influence Your Financial Decisions
So, listen, I know what UT costs for in-state students. I can't imagine what it costs for out-of-state students. Tyler. There's a better way.
The Ramsey Show
Don’t Let Panic Influence Your Financial Decisions
Ever. I'm not even allowed to tell anybody anymore. She made me stop talking about it.
The Ramsey Show
Don’t Let Panic Influence Your Financial Decisions
And now you're a best-selling author. What a waste of time and money.
The Ramsey Show
Don’t Let Panic Influence Your Financial Decisions
So that's a good combo, and we're excited to have you with us. 888-825-5225 is the number. 888-825-5225. You ready to go, partner? Are you ready to do all your vocal exercises? She's ready, folks. Erin will start us off in St. Louis. Erin, how can we help?
The Ramsey Show
Don’t Let Panic Influence Your Financial Decisions
All right, our question of the day is brought to you by YRefi. If you've got defaulted student loans that don't let you gain momentum, we get it. No judgment. But nobody is coming to bail you out. So take charge today at YRefi.com slash Ramsey. They offer refinancing to a low fixed rate loan built just for you. That's the letter Y. R-E-F-Y dot com slash Ramsey.
The Ramsey Show
Don’t Let Panic Influence Your Financial Decisions
It may not be available in all states.
The Ramsey Show
Don’t Let Panic Influence Your Financial Decisions
I totally agree. I think when you're a teenager, you're probably going to go heavier on saving. So an adult, maybe 80-10-10, meaning 80 spend because they've got a budget, they've got a household, they've got to take care of. 10% tithe, that would be under giving, if you will, to the church. 10% savings. I'm just making that up. I'm not saying that's our rule.
The Ramsey Show
Don’t Let Panic Influence Your Financial Decisions
But if you look at the 80, 10, 10, 80, so for you as a young person, you don't have a bunch of expenses. So maybe you're only spending 20%. Yeah. And then the rest is broken down out of the rest of the 80, as Jade was saying. I loved your advice on the seasonal, you know. And by the way, that teaches a young person how to actually budget.
The Ramsey Show
Don’t Let Panic Influence Your Financial Decisions
By adjusting the priorities. Really good stuff. By the way, if you would like to enter our teacher appreciation giveaway, we want to love on teachers. We love doing this every year at Ramsey Solutions. Go to ramseysolutions.com slash teacher, ramseysolutions.com slash teacher. And I would guess that you could nominate another teacher as well. Is that true?
The Ramsey Show
Don’t Let Panic Influence Your Financial Decisions
Yeah, so what a fun way to nominate some teachers. RamseySolutions.com slash teacher. It's always fun.
The Ramsey Show
Don’t Let Panic Influence Your Financial Decisions
Yeah, I'm going to let that go. Just keep on going there. George Michael. Oh, very good. I was getting ready to ask because I'm not good with the lyrics. Like the show, was it a game show about the lyrics?
The Ramsey Show
Don’t Let Panic Influence Your Financial Decisions
If you would have put me on that show, I'd be the worst all-time contestant.
The Ramsey Show
Don’t Let Panic Influence Your Financial Decisions
Oh, well, America wants to see that. Well, they didn't take me. Me, on the other hand, wouldn't get one thing right. It would be the most embarrassing thing ever. Well, there's no clue.
The Ramsey Show
Don’t Let Panic Influence Your Financial Decisions
Oh, I can't remember what that was called. There you go. James would be very good at the lyrics. He's a music connoisseur.
The Ramsey Show
Don’t Let Panic Influence Your Financial Decisions
Well, I'd like to do more. What is it called? Coda glow. Code. Coda. Coda.
The Ramsey Show
Don’t Let Panic Influence Your Financial Decisions
Like the, the Coda return. C-O-D-A. Correct. Coda glow. Wherever you can buy music.
The Ramsey Show
Don’t Let Panic Influence Your Financial Decisions
This is very exciting. I apologize for not knowing about this and I will download it today. I'll introduce you to the break. Yeah. Oh, very exciting. All right. Let's go to Kim in Detroit. Kim, how can we help? Hi, how are you? Well, we're having a blast. What are you doing?
The Ramsey Show
Don’t Let Panic Influence Your Financial Decisions
It's about time somebody gave us a good problem. Yes. A lot of bad problems today. What's going on, Kim? Tell us this good problem.
The Ramsey Show
Don’t Let Panic Influence Your Financial Decisions
All right. And what was leading to this inheritance? What happened?
The Ramsey Show
Don’t Let Panic Influence Your Financial Decisions
Oh, I'm so sorry. I didn't want to move past that. So sorry about that. What a, what a tremendous legacy for grandma, huh?
The Ramsey Show
Don’t Let Panic Influence Your Financial Decisions
Okay. All right. So, so you called us. So what I'd love to do is between Jade and I, we'll try to help you spend that 200,000. How's that sound? Sounds great. All right. So baby step six. All right. So what do we got left in baby step six?
The Ramsey Show
Don’t Let Panic Influence Your Financial Decisions
So all those moves got you to baby step six.
The Ramsey Show
Don’t Let Panic Influence Your Financial Decisions
Great. Okay. Well, I know what Jay's going to say, so I don't need to say it.
The Ramsey Show
Don’t Let Panic Influence Your Financial Decisions
Kim, you literally took the words right out of my mouth. These people in the booth have never seen me speechless before, so way to go. So you're already doing that. Yeah, I'm with you, Jay. That was all I had was a couple of follow-up questions on what are some options to do with the 95 because you're so close on the house. But yeah, I just think...
The Ramsey Show
Don’t Let Panic Influence Your Financial Decisions
Do what's right, what you think is right with the 905.
The Ramsey Show
Don’t Let Panic Influence Your Financial Decisions
Not a bad idea. Congratulations. Thank you so much. Yeah, congratulations. Your honor and your grandmother. And I think that's really, really, really sweet and fun to see the discipline. Last little thing I'd say, by leaving that much cash sitting around, there's a chance for you to get tempted to use it for something else.
The Ramsey Show
Don’t Let Panic Influence Your Financial Decisions
Bye. Bye. Bye. That's ramseysolutions.com slash agent, or click the link in the description on our show notes if you are listening or watching via YouTube or podcast. Nolens is the way I used to say it. New Orleans, for the rest of you, is where we go. Jeremy is there. Jeremy, how can we help? Hey, Ken.
The Ramsey Show
Don’t Let Panic Influence Your Financial Decisions
Oof. So what's the rest of the story?
The Ramsey Show
Don’t Let Panic Influence Your Financial Decisions
Wow. I'm sitting here just really processing this. Me too. Because it feels like there's some evidence here that the credit card company didn't do their job. They were alerted that this was stolen or that it was misplaced or whatever, and they still allowed the transaction to go through. Right.
The Ramsey Show
Don’t Let Panic Influence Your Financial Decisions
And because of their failure, I'm just talking this out here, because of their failure and their process, you got ripped off.
The Ramsey Show
Don’t Let Panic Influence Your Financial Decisions
Yeah, but what about, can you get an affidavit or a signed statement from the person on LinkedIn that said, we actually reported it, we can prove it, blah, blah, blah, blah, blah, on the day they called? Yeah.
The Ramsey Show
Don’t Let Panic Influence Your Financial Decisions
I would go that route. And you know what I would do is after I got that, I'd go back to the credit card company and go, okay, let me walk you through where my head's at. I don't think that you should be allowed to ask me for the $10,000 or demand it or take it. Here's why. You all screwed up.
The Ramsey Show
Don’t Let Panic Influence Your Financial Decisions
I have a signed statement from this person who said, and they can prove it, they got a cell phone call at such and such a date at such and such a time to you all placing a hold or a cancel on the card. You just walk through this and go, look, I'm not going to go down without a fight.
The Ramsey Show
Don’t Let Panic Influence Your Financial Decisions
Yeah. And I would just add to this. If I were you, I'd be working as many jobs as I could. We've got to get the cash back. For this surgery. She can't keep living this way. You have to. This is so serious, just the way you described it.
The Ramsey Show
Don’t Let Panic Influence Your Financial Decisions
Yeah, and I'm not going to be out 10 grand because I'm out 10 grand of this guitar. The guitar is gone. Not my problem. It's your problem on the 10 grand. The 10 grand is mine. Right. I would really fight this.
The Ramsey Show
Don’t Let Panic Influence Your Financial Decisions
Here's the deal. See, Jade, I'm going to make a statement. You tell me if you think I'm wrong, because sometimes I can be cranky Ken and James and my wife, Stacy, always call this out. So I feel like I'm starting to get it.
The Ramsey Show
Don’t Let Panic Influence Your Financial Decisions
Let's get into it. James, this is cranky Ken on this on his behalf. Cranky Ken believes that $10,000 is a drop in the bucket for a big old credit card company. And if I become a real thorn in their side and promise to fight them to the bitter end and I become more of a nuisance than they want to deal with, I think they walk away. But I think you've got to send a message.
The Ramsey Show
Don’t Let Panic Influence Your Financial Decisions
I'm not paying you a nickel. Here's why. I got all the proof. If we've got to go to court, we'll go to court. But you're going to pay my attorney's fees. I just think that they will go away. I really do. If you've got all this proof and you could show it to them and anybody with a brain can see this trail, that's what I would do.
The Ramsey Show
Don’t Let Panic Influence Your Financial Decisions
Oh, where's my hat? I didn't bring my hat to the studio today. I got a standing on business hat. And if there was ever a time to wear it, this is the call. I just don't think they want to mess with this and spend all this time and money on 10 grand. They just write it off.
The Ramsey Show
Don’t Let Panic Influence Your Financial Decisions
He's getting a little dusty-eyed in there. That's a nice guitar. It was Nashville boys, no guitars. They do. They do. Well, listen, hold the line on this one, man. I like our strategy here. I think this is a game of poker.
The Ramsey Show
Don’t Let Panic Influence Your Financial Decisions
And I'd push all my chips in the middle because you got the cards.
The Ramsey Show
Don’t Let Panic Influence Your Financial Decisions
Thank you all. Sorry you got got, but hold your ground. You learned something though, right? Did you learn something?
The Ramsey Show
Don’t Let Panic Influence Your Financial Decisions
Yeah. Very interesting. All right, my man. Well, you get the last word. What is your favorite guitar that you don't own, but you'd love to have?
The Ramsey Show
Don’t Let Panic Influence Your Financial Decisions
If I were you, I would be doing everything in my power, everything that Jade said, plus I would be making extra money to come up with half the money that insurance, I guess, has promised that they would pay. Yeah, that's right. To get this surgery for your wife, I mean, you just can't keep this up. That's my concern. So hang on the line.
The Ramsey Show
Don’t Let Panic Influence Your Financial Decisions
James has one right beside his desk. All right. I like that. I like to ask people those kind of questions because you knew he had an answer.
The Ramsey Show
Don’t Let Panic Influence Your Financial Decisions
I didn't even know what it is. He said pre-war, and the rest of it was Charlie Brown's teacher for me. I didn't hear anything.
The Ramsey Show
Don’t Let Panic Influence Your Financial Decisions
But I did appreciate that he said it was pearly.
The Ramsey Show
Don’t Let Panic Influence Your Financial Decisions
I like a good aesthetic description. Yeah, yeah, a little pearly. All right, James, what's your go-to guitar? Money's no object. What guitar are you getting?
The Ramsey Show
Don’t Let Panic Influence Your Financial Decisions
And what's a mint condition one of those going to set you back?
The Ramsey Show
Don’t Let Panic Influence Your Financial Decisions
I think you and I need to start a YouTube channel selling guitars. I don't know anything about them, but I can sell them. Okay, well, I'll get got because I don't know. This is The Ramsey Show.
The Ramsey Show
Don’t Let Panic Influence Your Financial Decisions
We're going to give you every dollar so you don't have to spend any extra money right now. Hang on the line.
The Ramsey Show
Don’t Let Panic Influence Your Financial Decisions
Michelle is joining us here in Nashville, our neck of the woods. Michelle, how can we help today?
The Ramsey Show
Don’t Let Panic Influence Your Financial Decisions
Does he have any income coming in?
The Ramsey Show
Don’t Let Panic Influence Your Financial Decisions
Got it. Thank God. So what is the medical situation? Is he now going to be going into some type of care facility? Is that the next step? I'm assuming he cannot live on his own, correct?
The Ramsey Show
Don’t Let Panic Influence Your Financial Decisions
58. 58. So let me ask a quick question. Why would you live, why would you, don't you guys already have a home or are you guys renting? That's the part I'm not sure about is living together with him. What's your current living situation?
The Ramsey Show
Don’t Let Panic Influence Your Financial Decisions
His house and clear his debt up. I don't know if I like the idea of using some of that. This is where I'm bringing in my partner here. I have a check in my spirit.
The Ramsey Show
Don’t Let Panic Influence Your Financial Decisions
So I'll lead and go down on the diving board and then let her score my dive. Okay. I like him selling the house, and let's clear his debt. He's got plenty of equity to do so. So he's now debt-free. I am not in favor of you all using what's left of that to buy a house together. I think he needs those funds for right now set aside for his ongoing care in some form or fashion.
The Ramsey Show
Don’t Let Panic Influence Your Financial Decisions
I don't have it all figured out because I think this is a complex situation, but I would hold the money left over after paying off his debt. And let's get into a if we got to get a different rental or something like that and maybe some of that. But I got to check in my spirit about buying a house.
The Ramsey Show
You Don’t Need a Raise, You Need a Plan
How many hours a week are you spending on that?
The Ramsey Show
You Don’t Need a Raise, You Need a Plan
Okay, that's great. But I'm with Rachel on this. I wonder if we take that skill set and experience of being a court clerk. So we're talking about details, right? Good listener. You're administrative in nature. Is that right? You enjoy that and you're good at it? Dotting the I's, crossing the T's. I wonder if you don't look into maybe doing virtual executive assistant or something like that.
The Ramsey Show
You Don’t Need a Raise, You Need a Plan
Even if it's 20 hours a week, 30 hours a week. Because you can do that in your sleep. Something like that.
The Ramsey Show
You Don’t Need a Raise, You Need a Plan
And what was your previous salary as a court clerk?
The Ramsey Show
You Don’t Need a Raise, You Need a Plan
Oh, I wonder if you can't get $40,000, even $50,000 as an executive assistant and you do it all virtually.
The Ramsey Show
You Don’t Need a Raise, You Need a Plan
Make no mistake. It's going to be painful to drive a piece of crap for a while, but if you've got your mindset on where this gets us, then you can drive anything, and here's the deal. Park around the corner and walk a little bit.
The Ramsey Show
You Don’t Need a Raise, You Need a Plan
All right, let's go to Rachel in Phoenix, Arizona. Rachel, how can Rachel and I help you?
The Ramsey Show
You Don’t Need a Raise, You Need a Plan
I'm going to go ahead without any information and say yes. Yes. But I'm going to admit early on, Rachel, that that might be a snap reaction.
The Ramsey Show
You Don’t Need a Raise, You Need a Plan
Yeah. I get what you're saying. Here's what I would say right out of the gate. I actually think if I were in your shoes, and I understand the trust issues, so what's going on with both of you is very natural. It's very normal. I think you guys got to get with a therapist without question and work through this. But I would tell you that just practically speaking,
The Ramsey Show
You Don’t Need a Raise, You Need a Plan
Okay, so I've got to jump in real quick with a question then. I'm with Rachel. I don't think you can expect any money from them. So for this moment, let's suspend this idea that they're going to pay you and help pay this thing off and whatever, whatever. My question is, if they live with you in this studio, how much money are they going to cost you?
The Ramsey Show
You Don’t Need a Raise, You Need a Plan
Assuming they don't pay you rent, is it going to be any kind of a utility suck or something? Like, is it minimal as to what they'll actually cost you and your husband?
The Ramsey Show
You Don’t Need a Raise, You Need a Plan
I just wanted to know that. I also wanted Rachel to hear that too. So it's going to be a minimal increase because we have to assume, I think Rachel's right, that dad's going to go do something really dumb and boy, oh boy.
The Ramsey Show
You Don’t Need a Raise, You Need a Plan
That was a question I had. I don't hear a lot about it, so I don't know what video he's watching.
The Ramsey Show
You Don’t Need a Raise, You Need a Plan
Dance, varmint! Sorry, I just had to say that for everybody who knows who Yosemite Sam is. It's an older demographic, I've got to point out.
The Ramsey Show
You Don’t Need a Raise, You Need a Plan
If I have the ability... They're not going to be on the side of the road. You know why? Because Rachel's mom is going to look at... If I went to Stacy, my wife of almost 27... But you're not her parents.
The Ramsey Show
You Don’t Need a Raise, You Need a Plan
Rachel, your mom at some point is going to tell your dad to wake up and smell the coffee. Is she not?
The Ramsey Show
You Don’t Need a Raise, You Need a Plan
I think that the fact that you have your finances merged and shared actually creates greater accountability for both, right? So that the trust at least has some type of transparency. Now, just because you share accounts doesn't mean that financial infidelity isn't happening. However, one big step going forward to me is, okay, there are no separate accounts. And we both see what's in there.
The Ramsey Show
You Don’t Need a Raise, You Need a Plan
But here's something I want to point out. Rachel, please speak up to this, okay?
The Ramsey Show
You Don’t Need a Raise, You Need a Plan
Rachel and Phoenix. I believe that this is kind of like a teenager. I think your dad needs to be treated like a teenager. And that's why I agree with my partner here, Rachel's advice on this. Have mom take care of mom for a bit. Because I don't think anybody's going to get through to this guy.
The Ramsey Show
You Don’t Need a Raise, You Need a Plan
The only thing that's going to get through to him, as Dave has said this for decades, when you land so hard, you bounce. And I think this guy... I hate this, what I'm about to say. But I think the family, including your mom, is going to go, all right, pal, go to Mexico. Please, for the love of God, be safe. But let the guy go digging and let him go gold mining.
The Ramsey Show
You Don’t Need a Raise, You Need a Plan
And when he doesn't find any gold and he runs out of all money... He's a bit of the prodigal here.
The Ramsey Show
You Don’t Need a Raise, You Need a Plan
Is to let this guy get this out of his system. He's 71. I think this is his last hurrah. And I think he probably doesn't even realize it. I think to get his attention. But I think mom protects herself. I agree so much with Rachel Cruz on this. Rachel, your thoughts on that? I mean, where's mom at on this deal? Because you're trying to help.
The Ramsey Show
You Don’t Need a Raise, You Need a Plan
And I don't think, by the way, I want to make sure we come back to this point. I don't think this is your problem, even though it feels like it. I don't think it's your problem.
The Ramsey Show
You Don’t Need a Raise, You Need a Plan
investments i mean if you're i don't think so i don't think so i would i would here's the deal i'm not a tax pro i was certain about it until you looked at me sideways and i was like then i started thinking i don't think that's going to be an issue but i would again i would have her consult with a tax pro go to ramsay solutions.com he'll know what she earned yeah so that he will again she's but listen that's okay yeah i'm okay with that conversation i'm not suggesting by the way this is a secret that's right don't even make it i think she needs to be bold and go hey yosemite sam
The Ramsey Show
You Don’t Need a Raise, You Need a Plan
I got to take care of me because there's a good chance. This is really going to be harsh, but I'm going to say it. There's a chance this guy goes down there and falls into something bad. I mean, gold mining in Mexico? You might as well get on a roller coaster without the seatbelt. I don't think this is a wise decision. I'm not in any way making light of that. But she's got to protect herself.
The Ramsey Show
You Don’t Need a Raise, You Need a Plan
And I would say to her, she looks at him and goes, you're putting us at risk. Yeah. With this crazy venture.
The Ramsey Show
You Don’t Need a Raise, You Need a Plan
I'll tell you one thing I am going to do. I am going to see what the gold mining situation is in Mexico. She's got my intrigue.
The Ramsey Show
You Don’t Need a Raise, You Need a Plan
Ken went to Home Depot to get a bunch of pickaxes.
The Ramsey Show
You Don’t Need a Raise, You Need a Plan
And even just getting into an every dollar budget and beginning to look where every dollar is being spent, all of that begins to create so much transparency that trust is in some way a byproduct.
The Ramsey Show
You Don’t Need a Raise, You Need a Plan
All right, let's get to our Ramsey Show question of the day. It's brought to you by YRefi. If you're feeling stuck with defaulted private student loan payments, YRefi can reduce your payments and help you regain control of your finances. Take the first step towards getting unstuck by visiting YRefi.com slash Ramsey. That's the letter Y-R-E-F-Y dot com slash Ramsey.
The Ramsey Show
You Don’t Need a Raise, You Need a Plan
Oh, that's good. Very good question. What say you? You're the contentment queen.
The Ramsey Show
You Don’t Need a Raise, You Need a Plan
I'm not in any way saying that therapy doesn't still need to happen because, Rachel, I want to get your thoughts on this because I do think we need a good therapist to help us both heal because they've both had this trauma. Yeah.
The Ramsey Show
You Don’t Need a Raise, You Need a Plan
When I was 14, I had an old pastor tell me, looked me in the eye, and I'll never forget, he had his Bible in his hand, and he kind of thumped me on the shoulder. He says, young man, hear me on this. Don't sacrifice the future on the altar of the immediate. Now, that's a lot of old man speak, but what that statement says is don't risk or sacrifice your future on how you're feeling in the now.
The Ramsey Show
You Don’t Need a Raise, You Need a Plan
And so to Antonio, I would say, how do you stick with renting while you're accumulating that down payment? You start looking towards the future and you say, if I wait and I get that 20% down payment, And I do it the right way. And I buy that way when I'm ready. My future is so much better.
The Ramsey Show
You Don’t Need a Raise, You Need a Plan
But if I don't wait right now and I go in and I become house poor, what is that going to do to my mind, my wife's mind? So just look out to the future and go, what do I want that future to be? And that's going to require me to sacrifice now. You want to go lose weight. You want to lose 30 pounds by summer.
The Ramsey Show
You Don’t Need a Raise, You Need a Plan
Well, now we start to go, I have got to win the now and I've got to be disciplined in the now or else I don't get where I want to be. You can pick any category of life. So that would be my encouragement there. Two things I want to get to really quick. I want to go back. You and I did a little research. You did the research.
The Ramsey Show
You Don’t Need a Raise, You Need a Plan
He should be learning about it. He should know about it. Regardless of taxes or not. But we wanted to clarify that. By the way, that's what we would call a simple tax situation. So if you have a simple tax situation, I want to make you aware of Ramsey SmartTax. We're really excited about this.
The Ramsey Show
You Don’t Need a Raise, You Need a Plan
This is a 100% accurate tax software that's going to save you up to 80% compared to what you see on TV and commercials. And here's what's cool. It's powered by TaxSlayer. A lot of you know TaxSlayer. So Ramsey partnered with TaxSlayer. They've been in the industry for 50 years. We've got it doctored up the Ramsey way. So that's a great, simple tax solution. It's called Ramsey Smart Tax.
The Ramsey Show
You Don’t Need a Raise, You Need a Plan
You can get it at ramseysolutions.com slash smart tax. Again, that's ramseysolutions.com slash smart tax. All right. I think you call that Worcester. We'll find out. Is it Worcester or is it Worcester?
The Ramsey Show
You Don’t Need a Raise, You Need a Plan
Oh, you want to get her on it? Yeah, let's talk to Jessica. So let's go to Jessica. Jessica, is it Worcester, Mass? It's Worcester. Worcester.
The Ramsey Show
You Don’t Need a Raise, You Need a Plan
Did you get a funnel cake while you were there? No.
The Ramsey Show
You Don’t Need a Raise, You Need a Plan
This is the Ramsey Show, where America comes to win with your money, win in your profession, and win in your relationships. Thrilled to have you with us. 888-825-5225 is the phone number. Rachel Cruz joins me today. I'm Ken Coleman, and let's get right to it. Are you ready to roll?
The Ramsey Show
You Don’t Need a Raise, You Need a Plan
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The Ramsey Show
You Don’t Need a Raise, You Need a Plan
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You Don’t Need a Raise, You Need a Plan
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You Don’t Need a Raise, You Need a Plan
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The Ramsey Show
You Don’t Need a Raise, You Need a Plan
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The Ramsey Show
You Don’t Need a Raise, You Need a Plan
What are we doing on the weekends, Christy? What are you doing? This guy's not like values. I stand by what I said. I wasn't trying to be salty.
The Ramsey Show
You Don’t Need a Raise, You Need a Plan
But there's a guy in the lobby that agrees with me. This is adult conjugal visits. We're playing house. I got head shaking all throughout the lobby. I stand by what I say, Rachel.
The Ramsey Show
You Don’t Need a Raise, You Need a Plan
Let's go to Sue in Sacramento. Sue, how can we help today?
The Ramsey Show
You Don’t Need a Raise, You Need a Plan
Wow. Sounds like there's two really good positives. Is this also a good professional move for both of you?
The Ramsey Show
You Don’t Need a Raise, You Need a Plan
But if we combine that with the other two issues, it sounds like this is a real big win. So when somebody calls in this situation and it sounds like there's a lot of positives here, what are you considering? What are you worried about that you want to get our take on? What do we not know that's giving you pause?
The Ramsey Show
You Don’t Need a Raise, You Need a Plan
Okay, so let's go into that. So let's paint the picture here for Rachel. All right, so tell us how much money you're going to get, or that you believe you're going to get, and then let's walk through your debt. So how much money are you getting first?
The Ramsey Show
You Don’t Need a Raise, You Need a Plan
Okay. Now, what do you think the move is going to cost?
The Ramsey Show
You Don’t Need a Raise, You Need a Plan
I don't think that's unreasonable. What I would tell you to do is get about three or four quotes, and let's come down to a pretty concrete number. And so let's just play off the $8,000, Rachel. Let's say the move costs about $8,000, but it does lower your cost of living. I'm curious, do you know...
The Ramsey Show
You Don’t Need a Raise, You Need a Plan
Or can you ballpark what your new budget would be with the lower cost of living so that we know how much more we're going to keep if we're going to have the same jobs? And you said similar jobs, so I'm assuming similar pay. So what's the analysis there? How much more money would you have at the end of the month, if you will, that we could put towards the debt if we move?
The Ramsey Show
You Don’t Need a Raise, You Need a Plan
I would do it based on this because I think what's not mentioned in this is I think you guys are going to have a better quality of life. Is that what you think?
The Ramsey Show
You Don’t Need a Raise, You Need a Plan
What kind of income are we talking about there?
The Ramsey Show
You Don’t Need a Raise, You Need a Plan
Rachel, I think that's a no-brainer because it's not that much debt and they can tackle it.
The Ramsey Show
You Don’t Need a Raise, You Need a Plan
This is an extreme example, but you and I have a friend. I will not mention his name because he's a public figure. We have a good friend, mutual friend, who essentially bought a house in Nashville on the savings from his taxes in California. Yes, exactly. Now he's very successful, but that's real.
The Ramsey Show
You Don’t Need a Raise, You Need a Plan
So for that reason, I think... This is not, that's the only debt you have.
The Ramsey Show
You Don’t Need a Raise, You Need a Plan
I feel like this is a no-brainer. Sue, do you feel better, worse, the same?
The Ramsey Show
You Don’t Need a Raise, You Need a Plan
Let me tell you right now, you just self-diagnosed. A man puts so much self-worth in his ability to provide, and with the dynamics you just shared with us, I think there's some potential healing there, and I think you've got to defrost the situation a little bit. I'm not saying it's all on you, but you acknowledge some things, and I think the dynamics have changed.
The Ramsey Show
You Don’t Need a Raise, You Need a Plan
Well, because, and you're right, because of, again, the word we've been talking about, which is trust. Christy, I want to dig a little bit. We've kind of told you what we thought. You've been listening. I'm curious, are you both, would you say you both are at the same level of distrust of each other, even though you're probably happily married in every other area?
The Ramsey Show
You Don’t Need a Raise, You Need a Plan
And where you were the breadwinner, now you come home, he's not making enough. This is a tough situation. I wonder if we don't pivot this move to a non-money conversation, and the move is about life. And I'm curious, with that being said, does he agree with you that a move to Texas would be better for the kids' school, schooling situation?
The Ramsey Show
You Don’t Need a Raise, You Need a Plan
Sure, sure. But let me get back to where we were. Does he now agree with you that cost of living is significantly less in Texas? He's on board with that.
The Ramsey Show
You Don’t Need a Raise, You Need a Plan
Yeah, well... And visit and let him see it. You guys need to pick an area. I'm going to suggest that.
The Ramsey Show
You Don’t Need a Raise, You Need a Plan
Describe for us where you are and where he is on the particular issue of trust of each other and money right now. How would you describe that?
The Ramsey Show
You Don’t Need a Raise, You Need a Plan
Hey, have you heard about the Money and Relationships Tour? Dave Ramsey and Dr. John Delaney are hitting the road. And this is going to be a fun, fun night. They're going to be talking about everything from raising kids to handling money fights to making friends and so much more. Here are the cities. Louisville on April 21. Durham.
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You Don’t Need a Raise, You Need a Plan
on April 23, Atlanta, April 25, Phoenix, May 5, Fort Worth, May 7, and Kansas City, May 9. If you want to get your seats to see Dave and John live, go to ramsaysolutions.com slash tour. That's ramsaysolutions.com slash tour. And as with everything on the show, if we mention anything and you didn't catch the link, You can get the link in the show notes if you're watching on YouTube and podcasts.
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You Don’t Need a Raise, You Need a Plan
Did you know that James Childs, our fearless producer, he tells me all the time, the show notes are just chock full of goodness.
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You Don’t Need a Raise, You Need a Plan
So anything we discuss... James wants you to know if you miss it because I garble it or I say it too fast.
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You Don’t Need a Raise, You Need a Plan
Is it our third Rachel? I think so. Oh, it's very exciting. Rachel, number three in Lexington. How can we help?
The Ramsey Show
You Don’t Need a Raise, You Need a Plan
Give us the reasons why we would do either of those. So go with option A. Why do you think you should do that?
The Ramsey Show
You Don’t Need a Raise, You Need a Plan
So what I'm trying to understand is why would you want to move to this other house next door?
The Ramsey Show
You Don’t Need a Raise, You Need a Plan
Okay, I would sell the current house that you're in.
The Ramsey Show
You Don’t Need a Raise, You Need a Plan
With that cash set aside, plus the profit that Rachel's talking about, after you pay off this little house, you stay on the hill that you love. You got the room for the kids. You make it your own. You don't have to get it all done right away, but you got the cash. It sounds like to do it all.
The Ramsey Show
You Don’t Need a Raise, You Need a Plan
So you could cash flow it without selling the current house you live in.
The Ramsey Show
You Don’t Need a Raise, You Need a Plan
But it's your option. We're giving you multiple options.
The Ramsey Show
You Don’t Need a Raise, You Need a Plan
I think Rachel's option is cleaner. I do too. You get rid of the current house. You get all the cash. You go rent. You get the whole thing renovated. That's a little easier. It is a pain to move twice, but it feels like now. But again, I think what I'm hearing you say is you guys could cash flow the renovations while staying in the existing house.
The Ramsey Show
You Don’t Need a Raise, You Need a Plan
Or at least get it to a point that you can move into it and then whatever's left is not a complete construction zone. I think they got options.
The Ramsey Show
You Don’t Need a Raise, You Need a Plan
And it's just not a lot of money. You guys, I don't even know where you live, by the way. When you're buying a house for $32,000, that's mind-blowing to me, or the other one for $60,000. So I just don't think it's going to spit off enough rental income that it's worth the hassle. To make a difference, yeah.
The Ramsey Show
You Don’t Need a Raise, You Need a Plan
I'm picturing wildflowers. Do you have wildflowers on that property?
The Ramsey Show
You Don’t Need a Raise, You Need a Plan
I got to say, I'm also picturing a little, I think you should get the troop together. How old are the kids? Their ages?
The Ramsey Show
You Don’t Need a Raise, You Need a Plan
I put the little kids together and it gets to that point, the hills are alive with the sound of music. Von Trapp children. The Von Trapps, the wildflowers.
The Ramsey Show
You Don’t Need a Raise, You Need a Plan
I got such a great vibe about this place on the hill. I'm going to go with my partner's recommendation. Sell the current place, go all in, go rent, go all in and fix the other little place up, and then we watch the sound of music and we run through the wildflowers. I think it's going to be great. I like everything about it. I hope you're not allergic to pollen.
The Ramsey Show
You Don’t Need a Raise, You Need a Plan
So how are you folks doing with the baby steps? Some of you are brand new to it. Some of you are test driving it. Some of you are in the middle of it. You know, we've got a fun little quiz online that will allow you to check your progress in just a few minutes and get a personalized plan. And this is really valuable because you kind of see, okay, this is where I am.
The Ramsey Show
You Don’t Need a Raise, You Need a Plan
And now I've got some help, some action steps to keep going. Because remember this about the baby steps. It is about momentum, pure and simple. And there are times where you need that little boost. So if that's you, you can head to the show notes, click on the link titled, Are You On Track With The Baby Steps, and complete the quiz. It's really encouraging, and it'll actually equip you as well.
The Ramsey Show
You Don’t Need a Raise, You Need a Plan
All right, we're going to go to Portland, Oregon now, and Karen is there. Karen, how can we help?
The Ramsey Show
You Don’t Need a Raise, You Need a Plan
Did I understand you're unable to work right now because of this preparation or you would be unable to work after the surgery? I think both. Oh, okay.
The Ramsey Show
You Don’t Need a Raise, You Need a Plan
Well, has he been consistent on his alimony payments?
The Ramsey Show
You Don’t Need a Raise, You Need a Plan
Yeah. How long will that go? That's not perpetuity, is it?
The Ramsey Show
You Don’t Need a Raise, You Need a Plan
Christy is up first in Kansas City. Christy, how can we help today?
The Ramsey Show
You Don’t Need a Raise, You Need a Plan
Oh, well, that's huge. That had to create a lot of trust for him.
The Ramsey Show
You Don’t Need a Raise, You Need a Plan
This is tough. The only thing I would add is if I were you, I would be trying to find another golden girl or two in your area and let's see if we can roommate. I'm not kidding you. I really think you got to slash your expenses as much as you can because you're in such a... This whole health thing is just limiting you and your ability to work and hoping the alimony payments keep coming in.
The Ramsey Show
You Don’t Need a Raise, You Need a Plan
But in the meantime, I'm going to be pinching like I have nothing coming in. And I would really, truly consider a roommate situation, getting yourself in that. Let's see if we can cut your rent in half. My goodness. Don't tell me there aren't other ladies out there like you that wouldn't mind having a roommate, somebody around the house.
The Ramsey Show
You Don’t Need a Raise, You Need a Plan
See, I had no idea. I think it's meant to be. I do think there are some Golden Girls out there that would love to have a Karen in the house, and I would consider that. The good Karen, by the way. That's right. She's a great Karen. She's a great Karen.
The Ramsey Show
You Don’t Need a Raise, You Need a Plan
I got to say, Christy, I think you guys are on the way. I believe... marital counseling here because neither one of you were the bad guys. You're both victims. That's an interesting combination, and a professional will get you guys the tools that you can heal.
The Ramsey Show
You Don’t Need a Raise, You Need a Plan
I think you commit big time to some serious therapy, one time a week maybe, and let's dive into this and come out on the other side, and then I think you guys will get there. Really, really interesting call. Thanks for trusting us.
The Ramsey Show
You Don’t Need a Raise, You Need a Plan
All right, let's go to Shelby in Seattle, Washington. Shelby, how can we help today?
The Ramsey Show
You Don’t Need a Raise, You Need a Plan
25 more than it's worth or what is it? Oh my.
The Ramsey Show
You Don’t Need a Raise, You Need a Plan
Well, why don't you walk us through where you are on the snowball right now? Walk that out for us. Smallest to largest.
The Ramsey Show
You Don’t Need a Raise, You Need a Plan
No, no, no. Tell me your current debt's smallest to largest. Oh, I see.
The Ramsey Show
You Don’t Need a Raise, You Need a Plan
How much surplus is that? If you do your full budget, sorry, Rachel, if you got all your expenses, including the minimum payments on debt, how much extra do you have now that he's making this $16,000 a month?
The Ramsey Show
You Don’t Need a Raise, You Need a Plan
Okay. And how long has he been doing this? I'm just asking these questions for Rachel because she's running numbers here for you. So how long has he been making that extra money and how much longer will he make that in Alaska?
The Ramsey Show
You Don’t Need a Raise, You Need a Plan
I agree. Because this is an expensive truck. We're talking 55 grand.
The Ramsey Show
You Don’t Need a Raise, You Need a Plan
I think I would take the hit, too. You're also going to get a real raise here after you start knocking out some of these debts. So I agree with Hubs, but I want to make sure you hear what we're saying.
The Ramsey Show
Draw a Line in the Sand and Say “I’m Done!”
It doesn't even need to be the medical assistant or medical. Like it's anything anywhere that pays you more money than you're making right now. And the reason is to create some margin. OK. And then George is going to talk you through paying off that seven thousand dollars, which is going to also free up more money. We've got to get you a raise through income and expenses.
The Ramsey Show
Draw a Line in the Sand and Say “I’m Done!”
George, tell her how we're going to do that.
The Ramsey Show
Draw a Line in the Sand and Say “I’m Done!”
Wow. I'll tell you that much. It's a blessing. I don't know if you're really setting me up there. Blessed? We'll see what Grant thinks. He's in Chicago. Boy, now I've got to bless Grant. Grant, how are you doing? All right.
The Ramsey Show
Draw a Line in the Sand and Say “I’m Done!”
Strong golf clap for that one right there.
The Ramsey Show
Draw a Line in the Sand and Say “I’m Done!”
How much value does landscaping equipment hold? In other words, let's say you paid X amount of dollars for the equipment, how much can you get for it now?
The Ramsey Show
Draw a Line in the Sand and Say “I’m Done!”
The rest are lovely girls. Oh, I was going to say, because if it was mostly boys, you just pile them on top of each other. They don't care. They live like rats anyway. I got two boys.
The Ramsey Show
Draw a Line in the Sand and Say “I’m Done!”
Yeah. Yeah, I literally was going to go that direction. But the girl thing, I only have one girl, and I don't know. I feel like I'm on thin ice if I recommend that.
The Ramsey Show
Draw a Line in the Sand and Say “I’m Done!”
You're very cheery for a guy with six kids. I'll be honest with you. How do you have time to make this call?
The Ramsey Show
Draw a Line in the Sand and Say “I’m Done!”
Yeah, but you also don't have any sleep either. Oh, here's a question America wants to know. I know this. Are you done having kids or are there more on the way?
The Ramsey Show
Draw a Line in the Sand and Say “I’m Done!”
So you think there's a possibility that more kids are coming?
The Ramsey Show
Draw a Line in the Sand and Say “I’m Done!”
You're getting partial information. No one says you've got to give it up, but there are other things you can do. Maybe you should seek a family planner as a side to this call.
The Ramsey Show
Draw a Line in the Sand and Say “I’m Done!”
Hang on the line. I'll give you a couple tips when we go to commercial break.
The Ramsey Show
Draw a Line in the Sand and Say “I’m Done!”
How much equipment could you get away with not having? In other words, if you sold it, it wouldn't put you in a tough spot given your current business load.
The Ramsey Show
Draw a Line in the Sand and Say “I’m Done!”
He's a better man than I, I'll tell you. You'd be out of there? Well, I reached my max capacity as a father at three. I readily admit that. I'm glad we have three blessed. I do think people are hardwired for a certain number. There's no question. That guy right there was born and created to father a lot of kids. He's very, very bubbly. A very positive young man. I'm a curmudgeon with one child.
The Ramsey Show
Draw a Line in the Sand and Say “I’m Done!”
No, you're a curmudgeon pure. Without children.
The Ramsey Show
Draw a Line in the Sand and Say “I’m Done!”
We were hoping that your sweet little princess...
The Ramsey Show
Draw a Line in the Sand and Say “I’m Done!”
How about that? That's really cool. Yeah.
The Ramsey Show
Draw a Line in the Sand and Say “I’m Done!”
That's the 18 right there plus some. Who put this idea of bankruptcy in your mind as a way to get out of this?
The Ramsey Show
Draw a Line in the Sand and Say “I’m Done!”
Today's question comes from Maria in Connecticut. I recently received my license to practice architecture. I'll be having a conversation soon with the management at my current job about a new role and the responsibilities that come with it. I also suspect that with those responsibilities will come a pay increase. My employer has always been generous.
The Ramsey Show
Draw a Line in the Sand and Say “I’m Done!”
However, I would like to go into that meeting with an idea of what a fair salary looks like. I understand there are nuances to salary, such as your years of experience, geographical location. And specialty, I want to manage my expectations of what their offer might be so that I can be grateful to my employer if it's generous. Oh, that's fun. If it's generous.
The Ramsey Show
Draw a Line in the Sand and Say “I’m Done!”
I want to be grateful if it's generous. On the other hand, here's the other one. If I'm offered less than expected, I want to be prepared to find out why, prove my value, and prove my value. Where can I find accurate salary data to know what fair is? Well... There's no Bible on this. So let's start with that. There's no one source. There are multiple sources. I would be checking job sites.
The Ramsey Show
Draw a Line in the Sand and Say “I’m Done!”
And again, I'm not going to say names because I'm not endorsing, but you can go look and try to get a range with research. You can also, I would consult LinkedIn, reach out to people that have similar experience. There are ways to get a range. And what you want to do is get a range. And you already laid out in your question, Maria,
The Ramsey Show
Draw a Line in the Sand and Say “I’m Done!”
What we're looking at here, geographic region, you start with that because that's very, very different. You know what region you're in. You look at years of experience, qualifications, et cetera, et cetera. And because this is a new qualification that you will be getting, you are going to be at the bottom rung of the experience ladder. And so you've got to take that into account.
The Ramsey Show
Draw a Line in the Sand and Say “I’m Done!”
So I think you've got enough markers. to be able to do pretty good research and have an idea of the range of what you want. But do not lose sight of the fact that this employer has, by your words, always been very generous to you. And this is an opportunity to make a nice pivot. And even if it's not exactly what you want, you can't get lost in the number being absolutely ideal.
The Ramsey Show
Draw a Line in the Sand and Say “I’m Done!”
You have to focus, George, on the fact that you've made the switch. And now you're in the line of work you want to be in, and you got a chance to get experience, which sets you up for your future. So mindset and prioritizing your focus is the key here on how to handle this conversation going forward.
The Ramsey Show
Draw a Line in the Sand and Say “I’m Done!”
She feels valued by them, it appears. So that's a pretty good situation to be able to make that pivot.
The Ramsey Show
Draw a Line in the Sand and Say “I’m Done!”
What do you mean by other house? Tell us about an investment property.
The Ramsey Show
Draw a Line in the Sand and Say “I’m Done!”
So what would your income need to go to to make you feel comfortable after all of this? We've already figured out how to fund the... Yeah, I would have told you to sell this house even if this wasn't the case. I agree.
The Ramsey Show
Draw a Line in the Sand and Say “I’m Done!”
That takes care of that. Plus an emergency fund. That's right. So what kind of income would you need to, how much would you need to increase your income to make you feel calm at night, not knowing what that military number is going to play out to be?
The Ramsey Show
Draw a Line in the Sand and Say “I’m Done!”
But what's a conservative number? Can we say 36,000? Like if you increased your income by 30, if she's going to stand to lose $3,000 a month, I'm being very conservative because I'm thinking ahead. I'm thinking rainy day, what's the umbrella? So what I'm asking you is, does that make sense? If not, give me another number.
The Ramsey Show
Draw a Line in the Sand and Say “I’m Done!”
Don't accept that. In other words, I appreciate what you're saying from a number standpoint. From an attitude standpoint, I'd prefer you go, I'm not going to deal with anything. I'm going to happen to something. And so I'm going to go make an additional. I'd like to see you try to make an additional $2,500 a month. to come up with an additional $30,000 a year.
The Ramsey Show
Draw a Line in the Sand and Say “I’m Done!”
I don't care how you do it, but if it was me, George, that's what I would be doing. I don't know if you have a different thought on that, but I would be wanting to pad my stats, if you will, on that situation. Then if it's extra and we don't need it, awesome. We got gravy. We got the college fund started. There's many things you can do with that extra $30,000, but I would be trying to do that.
The Ramsey Show
Draw a Line in the Sand and Say “I’m Done!”
I thought you were going to say something else. because you were telling me I was the man. I thought it would make you feel good, too. Well, I appreciate it. It's a little disappointing. Wow. But let's help some people, shall we? That's the goal. Who do we have up first?
The Ramsey Show
Draw a Line in the Sand and Say “I’m Done!”
No, no, no, no, no. You know the answer to that. You may not know how you're going to do it, but what's the answer? Is it charging more clients?
The Ramsey Show
Draw a Line in the Sand and Say “I’m Done!”
I mean, what does that look like? What's your retirement look like?
The Ramsey Show
Draw a Line in the Sand and Say “I’m Done!”
So the question is for you, why in the world would you continue to pay that monthly premium knowing what you just told us?
The Ramsey Show
Draw a Line in the Sand and Say “I’m Done!”
What are you paying per month to keep this policy going?
The Ramsey Show
Draw a Line in the Sand and Say “I’m Done!”
Okay, so here's my question. $741 in the grand scheme of things, not a huge amount of money, but it's still $741 for a benefit that you don't need. You don't need $150,000. Right. Upon your death.
The Ramsey Show
Draw a Line in the Sand and Say “I’m Done!”
Yeah, it's more clients. I mean, you know the answer to that. I think it's a great question that George asked, and I think you cannot let yourself cop out. Now, I understand the emotion behind your answer. So I'm not picking on you, but I'm actually trying to encourage you that you actually know the answer.
The Ramsey Show
Draw a Line in the Sand and Say “I’m Done!”
Yeah. I agree with George. You just got $78,000 wealthier. That's the way I look at it.
The Ramsey Show
Draw a Line in the Sand and Say “I’m Done!”
That's amazing. Thanks for the call, Rob. I'd be planning a $78,000 spend party. I'd be like, let's get together. What do we want to do with $78,000? Divvy it up. Have fun with that. Yeah. Give a little.
The Ramsey Show
Draw a Line in the Sand and Say “I’m Done!”
You should invite him to your live stream. You and Dave.
The Ramsey Show
Draw a Line in the Sand and Say “I’m Done!”
If I understood your business the way you understand it, I could figure it out. I want to make sure that the mindset right now is, all right, I started out in this deal. I got over my skis a little bit, didn't have the business with all the equipment, went through downturns. By the way, that's the nature of business. I don't care what it is.
The Ramsey Show
Draw a Line in the Sand and Say “I’m Done!”
And so you've learned a lot, but you've got to make sure that you've got a mindset right now that you are not a victim. And so, George, I don't know why we're not talking about selling this equipment. We just brushed right past this. That, to me, would be a resetting of the business.
The Ramsey Show
Draw a Line in the Sand and Say “I’m Done!”
How many square feet is this potential build?
The Ramsey Show
Draw a Line in the Sand and Say “I’m Done!”
So what are your thoughts, George, maybe on a tax advisor as well?
The Ramsey Show
Draw a Line in the Sand and Say “I’m Done!”
Yeah, Andrew, I would encourage you to talk with their doctors. Also get some advice from people who may have walked this road a little bit. I'm only saying this because my brother-in-law is dealing with this right now. And I will tell you that, unfortunately, the Alzheimer's situation is not going to get better. It's going to get worse.
The Ramsey Show
Draw a Line in the Sand and Say “I’m Done!”
And with your mother, you know, it's probably limited on what she can do depending on her symptoms post-stroke. At some point, assisted care, assisted living is something that you need to at least kick the tires on. I just don't know how long your sister or you with cameras can, you have to think about you guys and your ability to step in and do what you need to do while your life is moving.
The Ramsey Show
Draw a Line in the Sand and Say “I’m Done!”
And I'm not trying to be sober, but I am trying to give a bit of wisdom, just a little bit of observation I've been able to take in as my brother-in-law walks through this. That situation is not going to get better for your mother. Yeah.
The Ramsey Show
Draw a Line in the Sand and Say “I’m Done!”
You know what I would do? If he's got $20,000 worth of equipment and he owes 18. I would pay off the credit cards, cut them up, take the $2,000, and that becomes the retained earnings that we teach in Entree Leadership. And let's get that part going. Let's go. We got at least $2,000. Our goal is to not touch that unless it is an absolute four-alarm fire emergency.
The Ramsey Show
Draw a Line in the Sand and Say “I’m Done!”
And I'm saying before I spent $250,000 on a home, I would really look at this from multiple angles to see how long that solution takes
The Ramsey Show
Draw a Line in the Sand and Say “I’m Done!”
that you're describing and i understand your heart not trying to talk you out of it i'm just trying to give you another perspective because i got i've got no emotion attached to it but i would really be playing that out with your sisters as to how long that model is sustainable yeah i would also just come up with a game plan with whoever's involved is it more than just your sister involved
The Ramsey Show
Draw a Line in the Sand and Say “I’m Done!”
And that's what I'm cautioning, Andrew, is look at all of the possibilities and how this thing could go so that there are zero surprises.
The Ramsey Show
Draw a Line in the Sand and Say “I’m Done!”
Okay, good. Sorry you're going through this too, Andrew.
The Ramsey Show
Draw a Line in the Sand and Say “I’m Done!”
And I'm going to build on that $2,000 and have a goal to have $20,000 in the bank and then have a goal of $50,000. That's how you build a business. You go one month at a time and you take everything that you've learned to this point and you go, okay, now I know actually how I'm going to increase revenue.
The Ramsey Show
Draw a Line in the Sand and Say “I’m Done!”
Five people are going to sign up for this thing for free and get a massive boost into their baby step situation. 4K is 4K.
The Ramsey Show
Draw a Line in the Sand and Say “I’m Done!”
Sure. Well, if you're not here in five years, it won't matter. That's true. So you can't use that line of thinking, right? You got to plan for the best, you know, and hope for the best. But, you know, once the worst happens, it really doesn't matter because this is for your long-term play. Do you work right now?
The Ramsey Show
Draw a Line in the Sand and Say “I’m Done!”
What happens if, and boy, I'm sure that's nothing but bliss between you guys. Well, what happens if you guys have a breakup? He's been your sugar dad.
The Ramsey Show
Draw a Line in the Sand and Say “I’m Done!”
He's my age. He's your age. And did you just slip in there that you've tried to break up with him a couple times?
The Ramsey Show
Draw a Line in the Sand and Say “I’m Done!”
Yeah, really, really, really good. I really appreciate you sharing all this, and I'm glad we know this now because I think it really, it's really, I'm really, really passionate now about making sure that you stop relying on him. Now, I'm happy you guys are back together. Hopefully that sustains, but you've tried to break up with this guy twice.
The Ramsey Show
Draw a Line in the Sand and Say “I’m Done!”
And I'm going to keep the revenue in the form of retained earnings and then paying yourself more as George was saying.
The Ramsey Show
Draw a Line in the Sand and Say “I’m Done!”
This is a relationship that we could at least say has not been stable. Well, it is 18 years. Okay, but my point is you guys aren't married. There's no legal involvement.
The Ramsey Show
Draw a Line in the Sand and Say “I’m Done!”
Hold on, hold on, hold on. I need to hear the voice. What did he say? Give us the whole voice treatment on that.
The Ramsey Show
Draw a Line in the Sand and Say “I’m Done!”
Wow. This is delightful. I feel like you guys are a reality show waiting to happen. You know, 65-year-old's been dating 18 years. This is interesting, George.
The Ramsey Show
Draw a Line in the Sand and Say “I’m Done!”
You're right, Judy. That was worse. See, George and I are on Team Judy, okay? We're wearing Team Judy t-shirts right now. I love that. Good. And so you need to accept this, that you have got to get a different job, a full-time job that's not paid by this guy. And you need, George, I want you to step in on what you think she should do with that house.
The Ramsey Show
Draw a Line in the Sand and Say “I’m Done!”
I love this voice. I could talk to Judy forever. Judy, you're nominated for my favorite caller ever. Okay, George, let's help out.
The Ramsey Show
Draw a Line in the Sand and Say “I’m Done!”
Yeah, but that's not enough to live off of.
The Ramsey Show
Draw a Line in the Sand and Say “I’m Done!”
I'll tell you right now, if Judy doesn't make some changes, Judy's going to have to find another sugar daddy. And I don't know how many of those are left, sweetheart, when you get to your age. You know what I mean? I mean, just keeping it real. I don't want one. I don't want one. Okay, great. So then how do we exist without a sugar daddy? The answer is more income.
The Ramsey Show
Draw a Line in the Sand and Say “I’m Done!”
You need to make some money. And start taking care of Judy. If this guy wants to keep... I mean, I did.
The Ramsey Show
Draw a Line in the Sand and Say “I’m Done!”
I know, but we're talking about the future. George, let's put her on hold. Christian, let's get her a free ticket to the live stream investing event. Yeah, that'll be great. I think that'll also help her.
The Ramsey Show
Draw a Line in the Sand and Say “I’m Done!”
I feel like you oversold that one. That was a good tease. That was the goal. I'm a real pro. We do like to know what people think, though.
The Ramsey Show
Draw a Line in the Sand and Say “I’m Done!”
It's my favorite place to send people. You know why? Because it's all there. Everything you could ever want on this show is in the show notes. What was that link? It's in the show notes. What was that? It's in the show notes.
The Ramsey Show
Draw a Line in the Sand and Say “I’m Done!”
I could answer every call that way. I could just go next, show notes, next call, show notes.
The Ramsey Show
Draw a Line in the Sand and Say “I’m Done!”
I'm a practical guy. If one was to get you a gift card that delighted you, where would it be to? Oh, man.
The Ramsey Show
Draw a Line in the Sand and Say “I’m Done!”
i'll be honest that's a disappointing answer someone's buying you a gift where do you want a gift card to brand huh where do you want one i don't know academy so you can get more pickleball gear yeah maybe ralph will run i don't know j crew i'm gonna pick a lot of specifics you gave me costco they have everything what do you like the show notes exactly hey let's get to the phone raymond is up next in portland oregon what's going on raymond
The Ramsey Show
Draw a Line in the Sand and Say “I’m Done!”
All right. Let me ask a question. Are there other Chevrolet trucks or SUVs where that engine is compatible?
The Ramsey Show
Draw a Line in the Sand and Say “I’m Done!”
Well, put a used engine in it, and you'll ride it out. Yeah, you already said, we already covered that you could get a used engine. Okay. This isn't your forever car. We just need to go, there's a gap right now. You're broke. And I would imagine the warranty's going to cover the engine, the gasket on it, unless you didn't put oil in it.
The Ramsey Show
Draw a Line in the Sand and Say “I’m Done!”
All right, so I've got to believe that it'll be covered.
The Ramsey Show
Draw a Line in the Sand and Say “I’m Done!”
Dude, you're not even living paycheck to paycheck.
The Ramsey Show
Draw a Line in the Sand and Say “I’m Done!”
No, no. She just pays. She lives with you and your wife and chips in? I'm not married. I know. He's asking you what the long-term play is.
The Ramsey Show
Draw a Line in the Sand and Say “I’m Done!”
It's just you and mom. Yeah, it's just you and mom at the house.
The Ramsey Show
Draw a Line in the Sand and Say “I’m Done!”
So there are a lot of options for us gluten-free gladiators out there. There's the bonus content you didn't know you came for today. Thanks for thinking of us, Ken. Well, I'm always thinking of the people. Man of the people, I've been told.
The Ramsey Show
Draw a Line in the Sand and Say “I’m Done!”
Love it. Christy, that's a great place to be. You know, being done is an awesome place to be. Now, I know it doesn't feel that way, but George, can I get an amen on that? Oh, absolutely. So we can help. So, Christy, what are you doing for your job?
The Ramsey Show
Draw a Line in the Sand and Say “I’m Done!”
Okay, and you're making what per hour? $19,000. Uh-huh. And what did you get your associate's degree in?
The Ramsey Show
Draw a Line in the Sand and Say “I’m Done!”
And what was the purpose of that? What were you thinking? What are you aiming towards? What are you thinking about?
The Ramsey Show
Draw a Line in the Sand and Say “I’m Done!”
Yeah. Okay, so if we could fast forward your life, you're a nurse right now.
The Ramsey Show
Draw a Line in the Sand and Say “I’m Done!”
Right? I'm asking. That's what you want. What kind of nurse? You have any idea?
The Ramsey Show
Draw a Line in the Sand and Say “I’m Done!”
Okay, but let's stay. Yeah, I love that. No, I love it. But if we could be a nurse today, you would be a nurse, a labor delivery nurse?
The Ramsey Show
Draw a Line in the Sand and Say “I’m Done!”
Okay, great. It's really important that you visualize that and write that down. So the question becomes, how much money... and time is it going to take to get the other two years so that you get the nursing degree and you're ready to go?
The Ramsey Show
Draw a Line in the Sand and Say “I’m Done!”
No, no. You don't need the master's to become a nurse. I'm asking, what is it going to take for you to be qualified to be a labor delivery nurse?
The Ramsey Show
Draw a Line in the Sand and Say “I’m Done!”
Okay. Hey, fun homework assignment number one. You got it? You started this call. I'm done. So before you lay your head on the pillow tonight, you need to know the answer to how many more years of college do I need to get a nursing degree? The second thing you need to know before you lay down your head tonight is in your area,
The Ramsey Show
Draw a Line in the Sand and Say “I’m Done!”
Where are all the institutions, like a list of the schools that have nursing programs? If there are some online programs that will help you get a certain amount of, I mean, I don't know. I want you literally to have a list that if George and I knocked on your door tomorrow morning and we said, Christy, what are our options in the future to get that nursing degree?
The Ramsey Show
Draw a Line in the Sand and Say “I’m Done!”
You could hand us a piece of paper. There it is, George, right there. And we would say, okay, great. And it has the cost. It's really important for someone who's in your position that's really frustrated with where you are in life to have a clear picture of what it would actually take to do the thing that you actually want to do, because it takes away all of the fear.
The Ramsey Show
Draw a Line in the Sand and Say “I’m Done!”
Right now, you're in an emotional state that is probably frustrated and intimidated by what it takes to get where you want to go. Is that true?
The Ramsey Show
Draw a Line in the Sand and Say “I’m Done!”
That's what I thought. So two more years of school.
The Ramsey Show
Draw a Line in the Sand and Say “I’m Done!”
How much money do we need to complete that two years worth of coursework?
The Ramsey Show
Draw a Line in the Sand and Say “I’m Done!”
That's awesome news. So here's the deal. I want to hand it over to George to kind of pour through your expenses because I think you've got to do some work there too. But here's what I want to tell you. I want you to aggressively be looking for something that's paying you $25, $30 an hour. OK. OK. Because it doesn't matter what you're doing now.
The Ramsey Show
Credit Is a Crutch—It’s Time to Walk Without It
Or get married at the advice of a financial advisor so you can get a car. All right, now listen to this. I just found, this is in the Columbia, South Carolina area, okay? I just found a 2009 Toyota Camry, 182,000 miles, which on a Camry might as well be a new car. Okay, that car can go for $482,000.
The Ramsey Show
Credit Is a Crutch—It’s Time to Walk Without It
All right, listen to this. $3,700 they want for this car. You walk up there with $3,200 in $100 bills. And that's in two months. And say, guys, this is what I'm going to pay you for this car. They'll give it to you so fast, your head will spin. No credit. Do you hear me?
The Ramsey Show
Credit Is a Crutch—It’s Time to Walk Without It
She's been hypnotized. Stop staring at the sun.
The Ramsey Show
Credit Is a Crutch—It’s Time to Walk Without It
All right, let's go to Mike in Philadelphia, Pennsylvania. Mike, how can we help today?
The Ramsey Show
Credit Is a Crutch—It’s Time to Walk Without It
So, Darlene, I love you, by the way. You are a gift to a talk show host, and I want to point that out. But Rachel asked you a very important question that plays into our advice, and You listed the 25, 28, 31, and 36-year-old. Then there was Mr. Weed Man, and we've got a lot of things going on here.
The Ramsey Show
Credit Is a Crutch—It’s Time to Walk Without It
This is The Ramsey Show, where America hangs out to have a conversation about their money, their profession, and their relationships. 888-825-5225 is the phone number. 888-825-5225. I'm Ken Coleman, and super excited to be next to the fabulous Rachel Cruz, ladies and gentlemen. Yes. You ready to go, partner?
The Ramsey Show
Credit Is a Crutch—It’s Time to Walk Without It
Right. And I'm still paying on three of the policies. Oh, that's why the insurance agent wants you to keep it.
The Ramsey Show
Credit Is a Crutch—It’s Time to Walk Without It
How long have you been paying on the policies? And do you have an idea how much you've paid over the life?
The Ramsey Show
Credit Is a Crutch—It’s Time to Walk Without It
Are all four kids, who are adults, by the way, are they routinely asking you for money, and are you giving them money, yes or no?
The Ramsey Show
Credit Is a Crutch—It’s Time to Walk Without It
Oh, gosh. About how much a year? About $1,000, I guess, something like that. All right. On the tax question, again, talk with your tax pro, but if the payout or the surrender amount is more than what you've paid.
The Ramsey Show
Credit Is a Crutch—It’s Time to Walk Without It
You've put in, then you will pay taxes. But just figure out what that is. But that doesn't change our opinion. You still want to get that money out because it's not doing you any favors. You don't need to keep those policies. They're not helping you at all. And Rachel explained that. Get the cash. Do what she said to do with the cash. And cash is king on this. And get out of this bad product.
The Ramsey Show
Credit Is a Crutch—It’s Time to Walk Without It
Why keep the fourth one? And I know what you said. You said, I'm keeping the fourth one. I've got four. I want to surrender three. Why keep the fourth based on what we've told you? Because you're going to have plenty to cover your funeral.
The Ramsey Show
Credit Is a Crutch—It’s Time to Walk Without It
I would too. I would get rid of it. You've got plenty of money. Okay. Yeah, and you're going to earn plenty. You're going to live a long time, I can tell. I hope so. Put that money, gain the interest on it as Rachel told you. You just don't need it. Get rid of them all. Get the cash back. You've paid way too much into these things for way too long.
The Ramsey Show
Credit Is a Crutch—It’s Time to Walk Without It
Right? Okay. Yeah, man. Hey, thank you so much. Yeah, appreciate the call. What a nice guy. So great. Once enough to cover his funeral and a nice dinner for everybody.
The Ramsey Show
Credit Is a Crutch—It’s Time to Walk Without It
So we'll go age 30. Age 30 to age 70. Uh-huh. Oh, I see what you're doing. And $1,000. If it's per month on the calculator?
The Ramsey Show
Credit Is a Crutch—It’s Time to Walk Without It
A hundred bucks. Yeah, there you go.
The Ramsey Show
Credit Is a Crutch—It’s Time to Walk Without It
All right, calculate. This is very exciting.
The Ramsey Show
Credit Is a Crutch—It’s Time to Walk Without It
It would have been $632,400. You would have had an additional...
The Ramsey Show
Credit Is a Crutch—It’s Time to Walk Without It
That shot to the shins right there. That hurts. That hurts. I can feel it in my shins.
The Ramsey Show
Credit Is a Crutch—It’s Time to Walk Without It
I've got so much insurance on me because I had three kids, right? And I mean, I always looked at my wife sideways when I get in bed every night. You know what I mean? Because if I've been a little cranky or not such a good hubs, you know, I might wake up in heaven.
The Ramsey Show
Credit Is a Crutch—It’s Time to Walk Without It
I promise you that. The kids are teenagers. She doesn't need me around the house anymore. I don't have to do baths. I don't have to do homework. I mean, what am I doing? She doesn't need your physical labor. But the point is, you know why I got so much? For peace of mind, and it's so unbelievably inexpensive. It's so cheap. It's so cheap. If you're decently healthy, it's going to be really cheap.
The Ramsey Show
Credit Is a Crutch—It’s Time to Walk Without It
And that investment calculator exercise, what a great exercise that was. Poor guy. Oh, man. $40,000 he's put in.
The Ramsey Show
Credit Is a Crutch—It’s Time to Walk Without It
And then the insurance agent is still sticking it to him. Oh, man.
The Ramsey Show
Credit Is a Crutch—It’s Time to Walk Without It
They did it. Oh, they put it up there. Thank you, James.
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Credit Is a Crutch—It’s Time to Walk Without It
I should have plugged into my fancy little cord here.
The Ramsey Show
Credit Is a Crutch—It’s Time to Walk Without It
And if you get a lot of life insurance, get a taster. Somebody to taste your food. Like the kings used to. You know what I mean? Back in the medieval age, they were never sure if their food was poisoned. And so if they gave them a bowl of porridge, they had to have a taster. I believe it. And if that poor sucker keeled over, then the king was like, hey.
The Ramsey Show
Credit Is a Crutch—It’s Time to Walk Without It
What about the weeks before that? How long has this pattern been going on? Let me put it to you a different way, Darlene, because Darlene, listen to me. We're trying to help you. And you're great at the description. And you're very frustrated. And you should be frustrated. But what we're trying to get to is I'm going to now say something and you can disagree with me.
The Ramsey Show
Credit Is a Crutch—It’s Time to Walk Without It
That's the last thing that bartender needed to tell you. Rachel, by the way, if you don't know her well.
The Ramsey Show
Credit Is a Crutch—It’s Time to Walk Without It
She's never, ever met a conspiracy theory she didn't believe. I mean, ever. So now, PSA from Rachel. I don't know. Four coffee beans in the espresso martini. Run. Run. Flee for the door.
The Ramsey Show
Credit Is a Crutch—It’s Time to Walk Without It
All right, folks, if you're tired of living paycheck to paycheck, and let's be honest, you are, that's no fun. And you're constantly wondering where is the money going? The first step is always and always will be getting on a budget. And we've got a great opportunity for you to just jump into this very warm pool. All right. It's called learning how to budget.
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And you can do this with our every dollar free budgeting trainings all month. You're going to learn step by step how to actually make a budget, stick to it, adjust it, all the things. I mean, this is a skill like anything else. And it's also a new concept for so many of you. And as a result, it's scary. You want to take the fear out of this deal. So. Sign up at EveryDollar.com slash webinar.
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Credit Is a Crutch—It’s Time to Walk Without It
You have been giving them money for far too long for things that you shouldn't give them money for, and now you've had it, and you're at the end of your financial rope and your emotional rope. That is a true statement, correct? Absolutely.
The Ramsey Show
Credit Is a Crutch—It’s Time to Walk Without It
You're going to get all the questions answered plus live Q&A above and beyond what they're going to teach you. Sign up for free. For those of you who can't afford anything, this is beautiful for you. Sign up free at EveryDollar.com slash webinar. EveryDollar.com slash webinar. Sam is up in the Big Apple, New York City. Sam, how can we help?
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Credit Is a Crutch—It’s Time to Walk Without It
I kid. I kid, Sam. I'd be curious about this. Tell Rachel and I what kind of giving you've done and why you think. There's no right or wrong answer here. Why you think you don't feel fulfilled or you don't have some good, let's call it, butterfly feeling in your body when you do something nice for somebody. Walk us through an example and why you don't think you feel it.
The Ramsey Show
Credit Is a Crutch—It’s Time to Walk Without It
I got a hunch, Rachel. Rachel's great at this. I think there's something to be learned. You said something a moment ago. It felt good, but it didn't make me feel better. That's a very interesting statement, and I'm going to assume that you actually said what you felt. And, Rachel, I'll tell you what, I don't have the answer here, but you're really perceptive on this.
The Ramsey Show
Credit Is a Crutch—It’s Time to Walk Without It
So I'll be cranky guy and tell you that you can't divorce your children, although I appreciate what you're saying. But you can tell them, as you have the last two weeks, the gravy train is officially over. It's my fault. But you're going to have to stand strong on this because you've probably tried to do this over the years, and they kept asking, and you eventually gave in. And you may not have.
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Credit Is a Crutch—It’s Time to Walk Without It
I think that you thought it was going to be a –
The Ramsey Show
Credit Is a Crutch—It’s Time to Walk Without It
much different feeling than it was because you acknowledge it felt good to give to the cancer thing there was a there was something there and then you mentioned the mental health and there was another connection there to your brother one a friend one the brother i believe and it felt good which tells me you're a human but i think that that either you over us you over uh estimated what it might do for you one or and here's my gut and i could be wrong sam and rachel will correct me she's really good at this
The Ramsey Show
Credit Is a Crutch—It’s Time to Walk Without It
It could be that you're dealing with some stuff. Maybe you're dealing with, I don't know. I don't know. I'm not going to hang anything on you, but I don't know if you're dealing with some negativity in your life, some depression, some anxiety. I don't know. And you thought maybe if I do this, it's going to really trigger something better in me. And I think you were like, oh, that was good.
The Ramsey Show
Credit Is a Crutch—It’s Time to Walk Without It
Like an ice cream cone. And then it wore off after you eat the ice cream about 20 minutes later.
The Ramsey Show
Credit Is a Crutch—It’s Time to Walk Without It
Well, there's also, it's not all financial. You can give of your time and your talent.
The Ramsey Show
Credit Is a Crutch—It’s Time to Walk Without It
That was unbelievable. We're now I want to give you a chance to respond here because we've been trying to help here.
The Ramsey Show
Credit Is a Crutch—It’s Time to Walk Without It
But the point is, is that Rachel, she's got to say what she said. And now she puts it to it. Stick to it. Yeah.
The Ramsey Show
Credit Is a Crutch—It’s Time to Walk Without It
And let me just say to you, the fact that you would call about this says what a great heart you have. Yes. And I mentioned it very briefly while Rachel was talking. Don't underestimate the gift of your time. Don't underestimate the gift of your talent to build the giving muscle. There is no guilt here. You're a good guy. But how can you give your talent away? How can you give your time away?
The Ramsey Show
Credit Is a Crutch—It’s Time to Walk Without It
And what that does is that begins to build that muscle because you go, man, that was great. I gave some effort. It was something that I cared about. And the last thing I would say is I love Rachel's advice. Keep that antenna up. Look for the littlest of opportunities to give money. It doesn't have to be huge. No, no.
The Ramsey Show
Credit Is a Crutch—It’s Time to Walk Without It
It could be you're in the grocery store and you see a single mom, and you don't know if she's single mom, but the point is you just feel like, ah, it feels right. I'm going to go up there and drop $200 on her. Hey, hope this helps with groceries.
The Ramsey Show
Credit Is a Crutch—It’s Time to Walk Without It
Is the old, hey, I'm going to get the car behind me at the old drive-thru. Oh, yeah. That's always a fun one. You drive away because you never actually get the fanfare, and that's the key. You've got to drive away. You can't pull over to the side and go, huh? How about this guy? You can't do that move. You've got to drive away.
The Ramsey Show
Credit Is a Crutch—It’s Time to Walk Without It
This is The Ramsey Show, where America hangs out to talk about their money, their profession, and their relationships. Thrilled to have you with us, America. 888-825-5225 is the phone number. 888-825-5225. Alongside the wonderful, the fabulous Rachel Cruz, I'm Ken Coleman, and we're going to start with Joan. Or Joanne, I apologize. Joanne in Baltimore. Joanne, how can we help?
The Ramsey Show
Credit Is a Crutch—It’s Time to Walk Without It
Is this your idea or your husband's?
The Ramsey Show
Credit Is a Crutch—It’s Time to Walk Without It
If you're making $154,000 and your income is $170,000, he's barely making any money.
The Ramsey Show
Credit Is a Crutch—It’s Time to Walk Without It
What do you mean? It's all written off.
The Ramsey Show
Credit Is a Crutch—It’s Time to Walk Without It
Okay. So he's not paying himself much at all. Correct. Well, the answer to this part of this equation is he needs to make more money.
The Ramsey Show
Credit Is a Crutch—It’s Time to Walk Without It
Well, you ain't going to get that money. You're not going to get that money back.
The Ramsey Show
Credit Is a Crutch—It’s Time to Walk Without It
I love being an entrepreneur, but if I've got a family and a wife, this is a hobby that's paying him a little bit of money. This is a side hustle.
The Ramsey Show
Credit Is a Crutch—It’s Time to Walk Without It
Right. Okay. I mean, are you with us here, or does this sound like we're speaking another language?
The Ramsey Show
Credit Is a Crutch—It’s Time to Walk Without It
I get it, but we are in debt and you're coming to us. Should we sell our house? And this feels like the nuclear option.
The Ramsey Show
Credit Is a Crutch—It’s Time to Walk Without It
Yeah. And it's his, sounds like he's bringing this to you and you can be a team, but we can disagree.
The Ramsey Show
Credit Is a Crutch—It’s Time to Walk Without It
What does he do? What is his business?
The Ramsey Show
Credit Is a Crutch—It’s Time to Walk Without It
What is his business? What is his business?
The Ramsey Show
Credit Is a Crutch—It’s Time to Walk Without It
And he does trade commercials, local stuff through ad agencies, stuff like that, or is he all in on movies?
The Ramsey Show
Credit Is a Crutch—It’s Time to Walk Without It
You don't mind if I quote Dave Ramsey, do you? Okay, great. Cause literally I was on the show with him yesterday and we had a very similar call and he said, and I quote, if he's been in business for 10 years, he ain't building it. It only takes a year or two to build. Ten years of this, and he's barely paying himself anything. He's not building anything.
The Ramsey Show
Credit Is a Crutch—It’s Time to Walk Without It
He's got a fun hobby with lots of cameras and mics and lights, and he wants to make a movie and hit it big. And you're an amazing woman. But he is not contributing to the level that he needs to contribute to. And ten years of this, this is not him building a business. He had his shot to build it, and he's not done a good job. That's the reality. And I'm quoting Dave, but I agree with Dave.
The Ramsey Show
Credit Is a Crutch—It’s Time to Walk Without It
And I literally we had this conversation yesterday. And so there's a season of life where, Rachel, I'm fine with him trying this if it's a side hustle and we have no debt. Right. And the kids are out of the house.
The Ramsey Show
Credit Is a Crutch—It’s Time to Walk Without It
All right. All right. I got it. I was trying to move on, but I was honestly in a state of being stunned. Darlene, you are a gift again to live radio. Wow. Now, let me ask you this as I try to move on. I've tried so hard, James.
The Ramsey Show
Credit Is a Crutch—It’s Time to Walk Without It
You're not much of a team right now. You're the one taking all the shots, bringing the bacon home, and he's, you know, God bless him. I don't know if it's your husband, and I promise you we're not attacking him, but this needs to be a step-up moment for him. And we could get rid of this debt really, really quick, get stable, and then figure out what the dream looks like.
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Credit Is a Crutch—It’s Time to Walk Without It
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Credit Is a Crutch—It’s Time to Walk Without It
I think he's just saying no. Is your husband in agreement with you? Like he's not going to have a problem taking a stand?
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Credit Is a Crutch—It’s Time to Walk Without It
You have to treat it like a roommate if you're renting, I guess. And you split the rent. You split the rent. You split utilities.
The Ramsey Show
Credit Is a Crutch—It’s Time to Walk Without It
If it's a roommate situation, then that's what this should be considered. Yeah, from a financial perspective. We took a call recently. I think Jade and I took a call recently, and you've had these before. And this was just recent, last week, where a lady and her boyfriend bought a house together, and then it got nasty. They don't talk anymore, and he's not paying. She moved out.
The Ramsey Show
Credit Is a Crutch—It’s Time to Walk Without It
She moved out to an apartment. He stayed in the house. And he's not paying the mortgage. Both of their names are on it, and he's not paying the bills. Shoot. And so she was worried about it going into foreclosure. So this is the kind of example of why we say don't buy a home with somebody you're not married to.
The Ramsey Show
Credit Is a Crutch—It’s Time to Walk Without It
Because when you're married, God forbid something bad happen, there are legal ramifications, and that is a lot, while ugly.
The Ramsey Show
Credit Is a Crutch—It’s Time to Walk Without It
So anyway, good advice. I just, as a girl dad, I got one girl, two boys. Just get married.
The Ramsey Show
Credit Is a Crutch—It’s Time to Walk Without It
Makes me sound like a dinosaur, though.
The Ramsey Show
Credit Is a Crutch—It’s Time to Walk Without It
Well, good for you. So you've answered your own question. Rachel and I can't give you any tips other than you've got to make it very clear to the kids and come up with a phrase that you say. And let me tell you where I go on this kind of stuff.
The Ramsey Show
Credit Is a Crutch—It’s Time to Walk Without It
Well, I laugh at that. I hear that. But I think you've not lived life until you've been a parent to even insinuate that you can go live life. And now I'm going to settle down and be a husband, a wife or a mom or a dad is just mind boggling to me because that's that's a whole nother type of living. Right. Life before those two responsibilities. Yeah. Yeah. Is very different. Yes. Yes.
The Ramsey Show
Credit Is a Crutch—It’s Time to Walk Without It
For sure. Like double income. Like Stacey and I were telling a young couple the other night about double income, no kids. And we were talking about it like it was fantasy land. Number one, because it's been a long time. Okay. Yeah. But number two, because like, oh, wow. Like we just... Did whatever we wanted, whenever we wanted.
The Ramsey Show
Credit Is a Crutch—It’s Time to Walk Without It
And that changes when you have kids. Right, totally, totally. So anyway, don't tell me about how you're going to live life. Carla's up in Baltimore, Maryland. Carla, how can we help?
The Ramsey Show
Credit Is a Crutch—It’s Time to Walk Without It
Because if one of them keeps coming back to you, I would have the same phrase and I would repeat it over and over again until they realize, oh, mom is actually done. Exactly. So you come up with the phrasing and Darlene, you're a treat. You need no help coming up with any phrasing. But I'd come up with one of your classic Darlene-isms that you've dropped on us.
The Ramsey Show
Credit Is a Crutch—It’s Time to Walk Without It
And it's every time they ask for money, you say it that way.
The Ramsey Show
Credit Is a Crutch—It’s Time to Walk Without It
I feel it. I think so, too. And I think we might be starting out hot if the board is correct. Darlene is on the line with a question in Chicago. Darlene, how can we help?
The Ramsey Show
Credit Is a Crutch—It’s Time to Walk Without It
Literally. That's what I'm saying. Darlene, every time you go, and they say it again and you just keep going. And I think that they'll get the picture.
The Ramsey Show
Credit Is a Crutch—It’s Time to Walk Without It
Taylor is joining us now in Milwaukee, Wisconsin. Taylor, how can we help?
The Ramsey Show
Credit Is a Crutch—It’s Time to Walk Without It
Break down the $113,000 in debt for us. What is it?
The Ramsey Show
Credit Is a Crutch—It’s Time to Walk Without It
Give us the three credit card balances just so we kind of know what you're dealing with, smallest to largest. Okay.
The Ramsey Show
Credit Is a Crutch—It’s Time to Walk Without It
You're marrying up, pal. Way to go. Well, that's what we all try to do, by the way.
The Ramsey Show
Credit Is a Crutch—It’s Time to Walk Without It
Do they live with you? Do any of these kids live with you?
The Ramsey Show
Credit Is a Crutch—It’s Time to Walk Without It
So you just paid off $40,000 in debt.
The Ramsey Show
Credit Is a Crutch—It’s Time to Walk Without It
Well, any projection on this month? Cause we're, we're essentially halfway through this month. What are you projecting for this month? At least 20. Of profit? Yes. Paying to you? Yes. Yes.
The Ramsey Show
Credit Is a Crutch—It’s Time to Walk Without It
Wow, this is great news. Besides the wife-to-be's $40,000 and your additional $20,000, you've got another $60,000 you get to play with here.
The Ramsey Show
Credit Is a Crutch—It’s Time to Walk Without It
Oh, so the 25-year-old daughter is married to weed man, and their daughter is living with you because they can't or won't take care of her?
The Ramsey Show
Credit Is a Crutch—It’s Time to Walk Without It
I wouldn't stick to one car unless you guys can actually do that. And so you may have to get a cash car, like a $7,000 car or something like that as a part of this process. My question, Rachel, is he's got a month left. So we want him to he needs to be tackling this himself until the day they combine accounts. For sure. Yeah. So you got to have the conversation with her.
The Ramsey Show
Credit Is a Crutch—It’s Time to Walk Without It
Taylor, one of the things you said I thought was interesting. I want Rachel to weigh in on is you're like, she's open to it, but I'm not sure how to have the conversation. And I think it'd be great for you to weigh in on this is premarital. But how does he need to have this conversation about what happens with that 40 grand on day one?
The Ramsey Show
Credit Is a Crutch—It’s Time to Walk Without It
I feel genuinely bad for you. But Darlene, I don't know what Rachel's going to say about this, so I'm going to step out there, Darlene. But I think you've got to send the grandchild back. You are actually repeating this process with the next generation.
The Ramsey Show
Credit Is a Crutch—It’s Time to Walk Without It
You know, Taylor, I don't know if Rachel agrees with this, but I think this requires some flowers, maybe even a spa day. You've got to go into this conversation celebrating her. She's got 40 G's in the bag. She's willing to take your debt-ridden hide on. I mean, wouldn't you? Come on. Doesn't he need a sweetness? That would be nice. Nice gesture, my friend. She's pregnant.
The Ramsey Show
Credit Is a Crutch—It’s Time to Walk Without It
I'm going to take care of you. I appreciate you. Yes. I would make some gesture and more than flowers. I wouldn't be mad about that. See, I think spa day, you know, maybe after a really positive. That a boy. You got to go in with a lot of appreciation, my man, because a lot of humility. This is a big deal. This is a great woman.
The Ramsey Show
Credit Is a Crutch—It’s Time to Walk Without It
And so you need to let her know that because you're in good shape, my man. My goodness. Yeah, I've always said you got to outmarry yourself. Taylor took this literally.
The Ramsey Show
Credit Is a Crutch—It’s Time to Walk Without It
Yeah. Congrats on the baby. Buying your home is a huge deal, folks. Don't try to do it on your own or with somebody that has no experience. Don't get scared. Don't buy into all the headlines. Get with somebody who knows what they're doing. I'll give you an example here. Mediate home prices went up slightly last month to about $430,000. More homes are on the market.
The Ramsey Show
Credit Is a Crutch—It’s Time to Walk Without It
The highest, nearly a million right now, the highest since 2019. So it's still not enough to meet buyer demand. The average 15-year fixed rate rose to 5.9% last month, but it's still under six. So if you're ready financially, a small rate increase shouldn't hold you back.
The Ramsey Show
Credit Is a Crutch—It’s Time to Walk Without It
To learn more about the housing market trends and get free tools to help you buy or sell with confidence, go to ramseysolutions.com slash marketplace. ramseysolutions.com slash market, or we've got the link in the show notes if you're listening via podcast and YouTube. Nikki is joining us now in Salt Lake City. Nikki, how can we help?
The Ramsey Show
Credit Is a Crutch—It’s Time to Walk Without It
I don't know that you can. And I'm not being cynical, Rachel. No, I know. There's only so much you can do. You know, maybe a suggestion, maybe an offer. But outside of that, if they don't receive it, what do you think you can do?
The Ramsey Show
Credit Is a Crutch—It’s Time to Walk Without It
I changed my opinion because if that's what you have to do to protect the child from going into government, I get that. So you know what? That's an extreme situation. But this is it. This is it. You're going to take care of this grandchild because you have to. No one else can or will. And then it cut everybody else off.
The Ramsey Show
Credit Is a Crutch—It’s Time to Walk Without It
Well, your first clue that you can't do much, if anything, and I'm not trying to be negative here. I'm just trying to answer your question. But when they won't tell you why they stopped paying their mortgage, and we're talking about you being your husband, their son, when they just say, we're not telling our own son why we're not paying our home, our mortgage, that's a sign.
The Ramsey Show
Credit Is a Crutch—It’s Time to Walk Without It
They don't want anybody to know. There's something they are hiding and have no interest in sharing.
The Ramsey Show
Credit Is a Crutch—It’s Time to Walk Without It
Okay. Hold on. Pause. Do you have a legit fear? No, you're great. You actually said something that I want to lean into. Is that fear real? Because you think if they come to your husband and ask for money that he's going to give them some money and then you're going to be really stuck?
The Ramsey Show
Credit Is a Crutch—It’s Time to Walk Without It
OK, is he still going to stand strong?
The Ramsey Show
Credit Is a Crutch—It’s Time to Walk Without It
Very hard. And Nikki, I understand your stress over it because it involves your husband, but it also involves your money too. And as long as your hubs is on the same page and you guys are going to hold the line together, then you shouldn't have that fear. And what I was responding to is when you said, I've got this fear that it's going to rob from my retirement.
The Ramsey Show
Credit Is a Crutch—It’s Time to Walk Without It
Well, there's no fear of that happening if there ain't no chance in the world it's going to happen. Now, The only way that you get to that point is if your husband goes, I'm all in on this one. I'm not going to give them a nickel.
The Ramsey Show
Credit Is a Crutch—It’s Time to Walk Without It
No, you're making a great point. I wanted to put it out there that I think it's... I think it is so morally wrong for parents to put their kids in this situation. It really bothers me.
The Ramsey Show
Credit Is a Crutch—It’s Time to Walk Without It
But Nikki, Rachel's right. Guys can do whatever you want to. You call it us.
The Ramsey Show
Credit Is a Crutch—It’s Time to Walk Without It
What's the other brother doing? I thought you mentioned— And how many siblings?
The Ramsey Show
Credit Is a Crutch—It’s Time to Walk Without It
He got asked for $10,000. What's he going to do?
The Ramsey Show
Credit Is a Crutch—It’s Time to Walk Without It
And Darlene, keep your sense of humor. I think you've got a great sense of humor. It sounds like you and your hubs are going to be okay in retirement, but now it's about you two and whatever responsibilities towards that little one. And keep your chin up. Hold the line. Don't give in. Keep those quips coming. And just press through this thing. I'm so sorry for you, but you've got this.
The Ramsey Show
Credit Is a Crutch—It’s Time to Walk Without It
Man, that stinks. It would be great if all the brothers circled the wagons. I'm going to go a step further. I think you need to have your husband preemptively tell mom and dad, hey, listen, I'm sorry you're going through all this. I know you asked my brother for money.
The Ramsey Show
Credit Is a Crutch—It’s Time to Walk Without It
We just had our first baby. My wife is not working full time. We're trying to get out of debt. I want you to know our financial position and our financial philosophy. And don't ask me for money because I'm not going to give it to you. I would go that far because I think they are being enabled by the one brother –
The Ramsey Show
Credit Is a Crutch—It’s Time to Walk Without It
sounds like a family member is enabling them by buying this house and bailing them out. We don't know what's really going on, why they would stop paying their mortgage. This is a mess. And here's what I know about messes. You get near a mess, you get messy. And you guys need to steer as clear of this thing as you can. Now, that may be aggressive, but
The Ramsey Show
Credit Is a Crutch—It’s Time to Walk Without It
But I'm just that kind of mentality where if I see a potential confrontation, I try to cut off the real confrontation by going, hey, in case anybody's thinking about confronting this, I want to go ahead and put out my preemptive position on this. And let's avoid all the ugliness and the weird tension.
The Ramsey Show
Credit Is a Crutch—It’s Time to Walk Without It
Yeah, that may be a little too aggressive, and I know that, but I just threw it out there.
The Ramsey Show
Credit Is a Crutch—It’s Time to Walk Without It
Or lose a relationship over what they did. Yes! Like, wait a second, you guys acting like morons, and because of that we can't have Christmas? It's tough stuff.
The Ramsey Show
Credit Is a Crutch—It’s Time to Walk Without It
All right, let's go to Jessica now who joins us in Columbia, South Carolina. Jessica, how can we help?
The Ramsey Show
Credit Is a Crutch—It’s Time to Walk Without It
I'm just stuck. No, you're not, actually. This is going to be a great call for you. Because you're not stuck. But quick question here, and Rachel's going to give you some amazing guidance here, I promise you. But why are financial advisors telling you that the best thing to do is to get married? Because that feels like a financial reason, not a good reason to get married.
The Ramsey Show
Credit Is a Crutch—It’s Time to Walk Without It
So I want to dig into that first. What are we trying to accomplish here?
The Ramsey Show
Credit Is a Crutch—It’s Time to Walk Without It
Slow down. Slow down. So you're not stuck.
The Ramsey Show
Credit Is a Crutch—It’s Time to Walk Without It
All right. I just want to ask a quick question here. Rachel, I'll get out of your way. But I want to ask a question here. What do you do for a living and how much do you make? And I have a quick follow-up. So give me the real quick stats. What do you do and how much do you make?
The Ramsey Show
Credit Is a Crutch—It’s Time to Walk Without It
So... If you could save up money for, let's say you could save up $10,000. I don't care how long it takes you. Could you buy a car without a credit card? Could you buy a car with $10,000 cash? Yes or no?
The Ramsey Show
Credit Is a Crutch—It’s Time to Walk Without It
So I'm challenging some of your thinking here. Rachel's going to guide you here, but I want to challenge this idea that you're stuck because you have no credit score and that you have to get married in order to have a car. You have a job and you can go buy a $5,000 car, a $7,500 car. I just want to make sure you catch that. Definitely.
The Ramsey Show
Credit Is a Crutch—It’s Time to Walk Without It
All right. I want to get out of the way, Rachel, because I know you got some questions, but my goodness.
The Ramsey Show
Credit Is a Crutch—It’s Time to Walk Without It
You don't need a loan. Listen, Jessica, you don't need a loan to get one more semester paid for. And I think your remaining semester of your associate's degree is secondary to what Rachel is saying, which is let's get some money saved, let's get on a budget, and let's buy a car.
The Ramsey Show
You Can Still Escape the Debt Spiral Before It’s Too Late
So how long is the program?
The Ramsey Show
You Can Still Escape the Debt Spiral Before It’s Too Late
Yeah, you know, look, I I challenge the process, naturally, when I hear someone say, I have to have an MBA. But I think John addressed it correctly. There are, in fact, I believe you that you've done research and that some of the jobs that you want to be able to get into are requiring or certainly recommending that. So I'm not going to dispute it.
The Ramsey Show
You Can Still Escape the Debt Spiral Before It’s Too Late
But I really, John just touched on something that I wanted to jump on. I'd like to see you get less information online and put in your head that this is going to pay off, and I want you talking to people that are where you want to be five years from now. I'd really prefer that.
The Ramsey Show
You Can Still Escape the Debt Spiral Before It’s Too Late
I wrote an entire book on that, The Proximity Principle, and I think having lunch or coffee with some men or women that are where you want to be down the line and getting their opinion, to me, far more important than what any business school puts on their website.
The Ramsey Show
You Can Still Escape the Debt Spiral Before It’s Too Late
This is the key. You guys got to be all in on the sacrifice. And you said it was a sacrifice. Be all in on it.
The Ramsey Show
You Can Still Escape the Debt Spiral Before It’s Too Late
Well, Dave Ramsey and Dr. John Deloney, my co-hosts today, are going to be heading out on the road, several cities. We've got Louisville on April 21, Durham April 23, Atlanta April 25, Phoenix May 5, Fort Worth May 7, Kansas City on May 9. It's the Money and Relationships Tour. Dave and John are going to be out there taking your questions. A little bit different format, John.
The Ramsey Show
You Can Still Escape the Debt Spiral Before It’s Too Late
Give us a little bit of a preview of this event.
The Ramsey Show
You Can Still Escape the Debt Spiral Before It’s Too Late
And so we're going to have a blast. Boy, that might be interesting.
The Ramsey Show
You Can Still Escape the Debt Spiral Before It’s Too Late
This is The Ramsey Show, where America hangs out to have a conversation about life, specifically your money, your profession, and your relationships. 888-825-5225 is the phone number to jump in. We'd love to hear from you. 888-825-5225. Joining me today is Dr. John Deloney. I'm Ken Coleman. We're excited to be together to help you out. Let's get it going with Michaela in Raleigh, North Carolina.
The Ramsey Show
You Can Still Escape the Debt Spiral Before It’s Too Late
And you are out of control. So this is going to be a great combination. Yeah, I'm looking forward to it. By the way, no matter how many times the audience asks, please don't tell them what hair product I use. I'd like to keep that secret.
The Ramsey Show
You Can Still Escape the Debt Spiral Before It’s Too Late
George is like my grandmother. He gets his hair done once every three months and just stays that way.
The Ramsey Show
You Can Still Escape the Debt Spiral Before It’s Too Late
Hey, if you want to get your ticket, go to RamseySolutions.com slash tour. That's RamseySolutions.com slash tour. If you're tuning in via YouTube or podcast, the link to get the tickets to the Money and Relationship Tour with Dr. John and Dave are in the show notes, which, by the way, So many other great things are in the show notes. Everything we mention here on the show are in the show notes.
The Ramsey Show
You Can Still Escape the Debt Spiral Before It’s Too Late
James, our producer, likes to call them a treasure trove, the show notes. All right, 888-825-5225. Alexis is joining us now in Salt Lake City. Alexis, how can we help?
The Ramsey Show
You Can Still Escape the Debt Spiral Before It’s Too Late
Well, do you guys have the actual authority to sell the house on her behalf?
The Ramsey Show
You Can Still Escape the Debt Spiral Before It’s Too Late
You have been through it, haven't you?
The Ramsey Show
You Can Still Escape the Debt Spiral Before It’s Too Late
You're okay. That's tough stuff.
The Ramsey Show
You Can Still Escape the Debt Spiral Before It’s Too Late
Okay. How much have you racked up?
The Ramsey Show
You Can Still Escape the Debt Spiral Before It’s Too Late
Okay. And are you working right now? No, I'm not. What about your kidney disease? What's the status of your health and your ability to work? Because if I understood you correctly, you stopped working because of the kidney issues, correct? Correct.
The Ramsey Show
You Can Still Escape the Debt Spiral Before It’s Too Late
So we've already got $43,000 in debt. Doesn't sound like we have any kind of diagnosis or treatment plan in place right now. What do you anticipate? The timeline being that you get some type of diagnosis plus treatment and any sense of when you might be able to go to work and how are you going to stay alive financially? What do you know?
The Ramsey Show
You Can Still Escape the Debt Spiral Before It’s Too Late
Any sense from your doctors as to when you would be able to work?
The Ramsey Show
You Can Still Escape the Debt Spiral Before It’s Too Late
So what's the plan as of right now to be able to fund your life?
The Ramsey Show
You Can Still Escape the Debt Spiral Before It’s Too Late
I agree with you, John, wholeheartedly. Alexis, real quick here. What we've got to do is you've got to come up with a baseline of what I need to make to be able to just survive, take care of myself. And then I know the $43,000 or $44,000 seems insurmountable. It's actually not. It's not.
The Ramsey Show
You Can Still Escape the Debt Spiral Before It’s Too Late
Don't sign up for one of these dumb credit things. Just get yourself above water.
The Ramsey Show
You Can Still Escape the Debt Spiral Before It’s Too Late
by working the two jobs or whatever i couldn't agree more with you john and that means care about you as much as you care about you've got other people in your life you've got what it takes alexis but you got to fight right now or this is going to get way worse so fight you know one of the first things i discovered working in the financial world is how absolutely devastating it is when the breadwinner of a family dies
The Ramsey Show
You Can Still Escape the Debt Spiral Before It’s Too Late
All right, folks, are you staying on track with the baby steps? If you'd like, you should take a quiz to check your progress and receive a personalized plan just for you. All you got to do is head to the show notes, click on the link titled, Are You On Track With Baby Steps? Complete the quiz. This is a great tool just to see where you stand.
The Ramsey Show
You Can Still Escape the Debt Spiral Before It’s Too Late
It shows you the mile markers, if you will, and it's really encouraging, not discouraging, but it'll create a customized plan, as I said, to kind of give you that momentum that you need to make it through. So do check that out.
The Ramsey Show
You Can Still Escape the Debt Spiral Before It’s Too Late
Well, speaking of what's going on right now, let's just go back to last week when we saw the volatility in the stock market or any time over the last few decades that you've listened or watched the show. We have a lot of new people, John, that are coming all the time. So for the newbies... Had you talked to us or called us last week and said, what do I do with my 401k?
The Ramsey Show
You Can Still Escape the Debt Spiral Before It’s Too Late
I'm watching it plummet because of the stock market. We would have said what, John?
The Ramsey Show
You Can Still Escape the Debt Spiral Before It’s Too Late
We would have said, sit. You can only get hurt if you try to get off the roller coaster in the middle of the ride. Ride the roller coaster. Enjoy it. You're going to end up. And then we came back Monday and it went down even further. And then it came out Tuesday.
The Ramsey Show
You Can Still Escape the Debt Spiral Before It’s Too Late
And then as I look at it right this moment, as I look at his rugged, handsome face. It's up 2,400 points, the biggest rally in five years. So we had the biggest fall off. One of the top five all time, and now here we go. So just the point here is trust us. We have a method to our madness, and this is why you hold long-term. Oh, by the way, and if you don't agree with us—
The Ramsey Show
You Can Still Escape the Debt Spiral Before It’s Too Late
There's this guy named Warren Buffett who says the same thing. So point made here, don't ever let the headlines dictate your financial decisions.
The Ramsey Show
You Can Still Escape the Debt Spiral Before It’s Too Late
So here we go. Here we go on the roller coaster. Today it's up. Whee! And tomorrow, ah! Yeah, who knows? Who knows? All right, let's go to Daniel who's waiting on us in New York. Daniel, how can we help?
The Ramsey Show
You Can Still Escape the Debt Spiral Before It’s Too Late
Yeah, well, first of all, glad that you acknowledged the baby steps and that you're on baby step two, and that's the answer to the question. The fastest way to get out of debt... based on millions and millions and millions and millions and millions of dollars by a lot of people using the Ramsey plan, that's the best way to do it. So you're already in Baby Step 2. What have you accomplished so far?
The Ramsey Show
You Can Still Escape the Debt Spiral Before It’s Too Late
What have you paid off so far? Or are you just now beginning Baby Step 2 with the first target being the $8,000?
The Ramsey Show
You Can Still Escape the Debt Spiral Before It’s Too Late
My question was, have you started already, or is this brand new, as soon as you start getting paid? Brand new. Okay, so we're going to start with the $8,000. That's the smallest debt that you have, correct? Correct. Yes. Okay. So your minimum payment on those credit cards, we're going to go minimum payments on everything else, but we're going to go above and beyond the minimum payment on the 8K.
The Ramsey Show
You Can Still Escape the Debt Spiral Before It’s Too Late
So the car and the $100,000 student loan were just minimum payments on those, okay? But you're going to put every extra nickel that you have towards the 8K. What do you anticipate the payoff of the $8,000? How long will it take you to pay off the credit cards? I think in two months, two or three months. That's huge. What's your combined payments on those credit cards, minimum? Probably like...
The Ramsey Show
You Can Still Escape the Debt Spiral Before It’s Too Late
$200. Okay, great. So you're walking through this debt snowball. So once you pay off the 8K, you're going to take that $200, and you're adding that to everything extra that you've been pouring in, and so now we're going after the car. And so that's how you do it.
The Ramsey Show
You Can Still Escape the Debt Spiral Before It’s Too Late
Every extra cent you've got above and beyond that car payment plus the $200 that you've been making in minimum payments, and you're going to knock that car out. And then the big boy is the only one left, and that's going to take some time.
The Ramsey Show
You Can Still Escape the Debt Spiral Before It’s Too Late
My question is, let's go back. You said you guys are trying to get back what you put into it. I'm paraphrasing what I heard. Explain what we're talking about. Did you guys personally put money into this to try to fix this property up? Your money?
The Ramsey Show
You Can Still Escape the Debt Spiral Before It’s Too Late
probably like $2,000. Okay. So we're going to reverse what I, we're going to put that one at the bottom. We're going to amend what I said. The very first debt you're going to pay off is the $2,000 small student loan. Then we move to the 8K. And I guess I should ask the same question there. I'm glad you did that, John. Is the 8K the total of credit cards or is it just one credit card for 8,000?
The Ramsey Show
You Can Still Escape the Debt Spiral Before It’s Too Late
One credit card. Okay, great. So that's the line. $2,000 student loan, $8,000 on the credit cards, then the $13,000 on the car, and then we've got a $20,000, a $20,000, a $30,000, and a $50,000.
The Ramsey Show
You Can Still Escape the Debt Spiral Before It’s Too Late
Oh, see, I misunderstood that question. I was like, he's not going to be doing anything.
The Ramsey Show
You Can Still Escape the Debt Spiral Before It’s Too Late
And two or three other guys to live with to minimize any kind of living expenses.
The Ramsey Show
You Can Still Escape the Debt Spiral Before It’s Too Late
You've got this, Daniel. You started off the call. How do I do it? Well, you're already planning to do it. So now just walk those steps out. You'll get there faster than you possibly imagine because of one fabulous word, momentum. Good hour, Dr. John Deloney. I'm Ken Coleman. This is The Ramsey Show.
The Ramsey Show
You Can Still Escape the Debt Spiral Before It’s Too Late
No, I understand you had to. I'm not questioning that. I'm saying how much, I want to know if it was your money. So you answered that. How much did you put into it?
The Ramsey Show
You Can Still Escape the Debt Spiral Before It’s Too Late
This is The Ramsey Show, where America hangs out to talk about their money, their profession, and their relationships. Alongside Dr. John Maloney, I'm Ken Coleman. We're so excited that you've joined us. 888-825-5225 is the phone number. 888-825-5225. We'll kick it off with Tim in Orlando. Tim, how can we help today?
The Ramsey Show
You Can Still Escape the Debt Spiral Before It’s Too Late
Let me flip that on you. What are you thinking when you're thinking about calling us on long-term health care? What's your position? What are you thinking? What are the circumstances?
The Ramsey Show
You Can Still Escape the Debt Spiral Before It’s Too Late
Yeah, that's it. That is the factor. So I was curious. I didn't know if you were going to give me some kind of health situation or some health history. But the bottom line is that if you can self-insure because of your investment portfolio, your retirement position, then you wouldn't need it. It would be a general answer. All right. So what's your situation? Explain it to us.
The Ramsey Show
You Can Still Escape the Debt Spiral Before It’s Too Late
Yeah. Uh, John, I, I, in that situation, I mean, I don't think you have a huge, I mean, your net worth is going to continue to grow. You said you're 60. Yes. And you have how much in retirement accounts?
The Ramsey Show
You Can Still Escape the Debt Spiral Before It’s Too Late
Excuse me. I don't know what happened. I just all of a sudden got choked.
The Ramsey Show
You Can Still Escape the Debt Spiral Before It’s Too Late
I agree, Tim. I think you can self-insure, but run the numbers on it. And it comes down to your tolerance for risk. But based on the numbers you've given us and the amount of time you spend and all that, I think you guys would be fine. I don't think it's a must for you. But I also would say in your financial position, you can afford it, too.
The Ramsey Show
You Can Still Escape the Debt Spiral Before It’s Too Late
What's the most you guys ever made combined income?
The Ramsey Show
You Can Still Escape the Debt Spiral Before It’s Too Late
I got you at around $12,000. Is that about right? It's definitely been over $10,000. Okay. So the other question then with John, what John asked is right. I think he's right, and I agree with your partner on that, to wait to sell the house. Is that 15? Let's just say it's 15. Let's say 12 to 15 is what you guys personally put in. Do you need that right away?
The Ramsey Show
You Can Still Escape the Debt Spiral Before It’s Too Late
Congrats. So when you called us and started this call, which way were you leaning? Were you going to buy it, or were you leaning against not getting it?
The Ramsey Show
You Can Still Escape the Debt Spiral Before It’s Too Late
Yeah, you're talking about whole life. You're talking about whole life. Yes. Yeah, we're very anti that. So run from that as fast as you can.
The Ramsey Show
You Can Still Escape the Debt Spiral Before It’s Too Late
No, you already know the answer to that. You shot it in the foot as soon as you were telling us. You were like, oh, I get nothing out of it at the end.
The Ramsey Show
You Can Still Escape the Debt Spiral Before It’s Too Late
So my last question for me is, did you run some numbers on the cost? Because I think John brought it up, and I think it's a fun exercise. What would it cost you to get the long-term health care, emergency care service? I mean, insurance, excuse me.
The Ramsey Show
You Can Still Escape the Debt Spiral Before It’s Too Late
Tim, Tim, stop talking about that. We already told you. I'm talking about long-term care insurance. Look into it. See what the cost is. You and your wife sit down and talk about it like John said.
The Ramsey Show
You Can Still Escape the Debt Spiral Before It’s Too Late
Are you guys okay not getting that right away?
The Ramsey Show
You Can Still Escape the Debt Spiral Before It’s Too Late
All right, let's go to Rebecca in Chattanooga. Rebecca, how can we help today?
The Ramsey Show
You Can Still Escape the Debt Spiral Before It’s Too Late
Your gut is right. Pass. That's a hard pass. I'd say, no thanks, guys. And just talk to them about how much money you have in the bank. and that you'll take care of your issues with the car when it arises.
The Ramsey Show
You Can Still Escape the Debt Spiral Before It’s Too Late
Listen, here's the deal. I love these kinds of things, and I think you take a really strong stance because John's right. They're going to try to talk you into it, but if you lead out with the flex, you know what? I've worked really hard to be a multi-millionaire, and I'm good. So I don't need the service plan. I just take care of things as they come because I've got cash.
The Ramsey Show
You Can Still Escape the Debt Spiral Before It’s Too Late
No, no, I get it. And that's why I'm bringing us to this point. And I think it comes back to John's advice. Would you also put that in the same bucket? Because right now, they do need to explain it to her. Absolutely. And you need to explain it to her as if she's a fourth grader. So there's some responsibility on you all. And by the way, that's not you, your husband. There's the relationship.
The Ramsey Show
You Can Still Escape the Debt Spiral Before It’s Too Late
But I do appreciate that your leaders want you to give me this option. Just call it all out.
The Ramsey Show
You Can Still Escape the Debt Spiral Before It’s Too Late
And that's my little pitch there is how I would do that. And by the way, they immediately go, oh, Rebecca is not to be played with.
The Ramsey Show
You Can Still Escape the Debt Spiral Before It’s Too Late
I like that. There you go, Rebecca. You got some options there. But the answer is hard pass.
The Ramsey Show
You Can Still Escape the Debt Spiral Before It’s Too Late
Let's go to Kristen, who is joining us in Phoenix. Kristen, how can we help?
The Ramsey Show
You Can Still Escape the Debt Spiral Before It’s Too Late
You want to maintain the sweet daughter-in-law relationship. So Hubs has got to step up, sit with mom. And I'll defer to John on the appropriate timeline. But it needs to be explained to her as though she's a fourth grader and say, mom, this is all about you. We put our money into this so that you have this. We have two options going forward.
The Ramsey Show
You Can Still Escape the Debt Spiral Before It’s Too Late
Yeah, a couple things. I understand that you're down. We have limited time here, so I'm going to do less emotional loving on you, and I'm going to do some financial loving on you, if that's okay. All right, so number one, I understand that you – have not had the luck that you feel like you would have liked to have had getting a job. But there are plenty of jobs, plural, that you can go get.
The Ramsey Show
You Can Still Escape the Debt Spiral Before It’s Too Late
And it starts today when you hang up. I don't care if you're walking dogs. You are delivering pizzas. You are stocking shelves at a big box store. This is at this point right now. This is not about... Passion or dreams. The career or the passion, the dreams. This is fighting to survive, and I don't know how you've been surviving. And so today we start fighting.
The Ramsey Show
You Can Still Escape the Debt Spiral Before It’s Too Late
So it's two, three jobs, and we start getting some momentum while we're looking for some stability, and we keep working the fact. I'm going to give you a copy of my book, The Proximity Principle, and I want you to read it. We'll give you whatever format you want. But you've got to start making progress. So we work any job that we can take, three jobs, and we begin to work the debt snowball.
The Ramsey Show
You Can Still Escape the Debt Spiral Before It’s Too Late
We're also going to get you, let's see, let's do total money makeover. We'll give you that, too, as well. Financial Peace University. Financial Peace University. We're going to load you up. Christian, just give her everything she needs, all right? You need momentum. Now, here's the deal. Okay. I would not take the $5,000 because that $5,000, you just say, hold that. There's a day.
The Ramsey Show
You Can Still Escape the Debt Spiral Before It’s Too Late
There's a day in the future where I'm going to be able to take this gift and put it towards the actual launch of the organization. This is not $5,000 to keep you afloat for three months. That is horrible, horrible idea. And that's the Christian, by the way, that John checked at the start of the phone call. I want to give it to John really quick here to kind of give you kind of a pep talk.
The Ramsey Show
You Can Still Escape the Debt Spiral Before It’s Too Late
But right now, that's what you need to do. Now, John will tell you what you need to feel. What you need to do is don't even think about this nonprofit right now.
The Ramsey Show
You Can Still Escape the Debt Spiral Before It’s Too Late
it's not going to generate enough income and you've got to explain it to her and show it to her at the appropriate time. That's right now. That's, I think that's okay too, but I didn't know what you were going to say.
The Ramsey Show
You Can Still Escape the Debt Spiral Before It’s Too Late
Let's go to Jack in Sacramento, California. Jack, how can we help you?
The Ramsey Show
You Can Still Escape the Debt Spiral Before It’s Too Late
So, Jack, number one, if your dad called us and asked us if he should do a consolidation loan, we would say no. So we would definitely tell you not to get involved in any kind of consolidation loan or helping your own father out on his loans. This is a no, no, no, no, no with exclamation points.
The Ramsey Show
You Can Still Escape the Debt Spiral Before It’s Too Late
It's getting really old. This is getting personal here. I don't know where you're going with this.
The Ramsey Show
You Can Still Escape the Debt Spiral Before It’s Too Late
Yeah, let's pause there. Hold on. No, no, no, no, no. I'm jumping in here because you're still trying to talk us into this, and that's not going to happen. And I get what you're trying to do. I think John's right. You got a great heart. But you called and said, what should we do here? You just said dad's living above his means. So he's clearly spending more than he's bringing in.
The Ramsey Show
You Can Still Escape the Debt Spiral Before It’s Too Late
Michaela, how can we help today?
The Ramsey Show
You Can Still Escape the Debt Spiral Before It’s Too Late
What income is he bringing in? And in what form? How much?
The Ramsey Show
You Can Still Escape the Debt Spiral Before It’s Too Late
Okay. So a real estate agent, and he's been doing it long enough to know how to sell houses. True or false? True. All right. So dad needs urgency. And I'll leave it to my colleague here as to what you can and can't do when it comes to that. And I don't think it's much, but I do agree with John that you've got to have an honest conversation with dad. But it's in the form of truth serum to say yes.
The Ramsey Show
You Can Still Escape the Debt Spiral Before It’s Too Late
$50,000 in debt, Dad, in the grand scheme of things, is not a lot for somebody who can sell some houses and knock that out pretty quick. But there's something going on with him for a lack of urgency. The fact that he's being irresponsible, again, not your problems to fix. But I think this has got to be a real honest but very respectful conversation.
The Ramsey Show
You Can Still Escape the Debt Spiral Before It’s Too Late
And if he will listen to you, you can show him our plan and say, hey, I've just started listening to these Ramsey folks. and here's the debt snowball, and I'll help you with the budget. I'll lean in every way I can, Pop, but you've got to make these changes or else I'm going to get stuck with this, and I don't want to get stuck with this.
The Ramsey Show
You Can Still Escape the Debt Spiral Before It’s Too Late
Yeah, he does not have to sell a lot of houses to pay off this $50,000 in debt. And the $40,000, he's barely doing anything at all. So this is a tough situation.
The Ramsey Show
You Can Still Escape the Debt Spiral Before It’s Too Late
I want to get to our Ramsey Show question of the day, which is brought to you by YRefi. YRefi offers a different approach to paying off your defaulted private student loans. They do it with a low fixed rate for less stress. Go to YRefi.com slash Ramsey. That's the letter Y, R-E-F-Y dot com slash Ramsey. It may not be available in all states.
The Ramsey Show
You Can Still Escape the Debt Spiral Before It’s Too Late
Well, that's clothed in a financial question, but John, I'll keep it with you because that is a marriage question. Tough one there.
The Ramsey Show
You Can Still Escape the Debt Spiral Before It’s Too Late
If he truly does let her do the finance.
The Ramsey Show
You Can Still Escape the Debt Spiral Before It’s Too Late
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You Can Still Escape the Debt Spiral Before It’s Too Late
It's 100% accurate tax software that saves you up to 80% compared to other popular softwares in the industry. It's powered by TaxSlayer. I'm sure you've heard of TaxSlayer, been in the tax industry for 50 years, and we doctored it up the Ramsey way to help you file right. So better get on it. Filing early means getting the best deals and getting tax stress off your shoulders.
The Ramsey Show
You Can Still Escape the Debt Spiral Before It’s Too Late
Go to RamseySolutions.com slash SmartTax. That's RamseySolutions.com slash SmartTax. Terrence is up in Atlanta. Terrence, how can we help today?
The Ramsey Show
You Can Still Escape the Debt Spiral Before It’s Too Late
Oh, my goodness. Where's my thumbs at? What is it?
The Ramsey Show
You Can Still Escape the Debt Spiral Before It’s Too Late
Wow. I've not heard of this model.
The Ramsey Show
You Can Still Escape the Debt Spiral Before It’s Too Late
Okay. So how much? Let's walk through this.
The Ramsey Show
You Can Still Escape the Debt Spiral Before It’s Too Late
Yeah, that's what John and I do. That's what I use. That's what John and I do is we use a debit card. You don't need the credit card, so cut the credit card out because it's going to remove the temptation. But let's dive into this car real quick, okay? Because we've got negative equity. So what you owe a total of how much?
The Ramsey Show
You Can Still Escape the Debt Spiral Before It’s Too Late
Oh, boy, that's a bath. That hurts. That is a bath right there.
The Ramsey Show
You Can Still Escape the Debt Spiral Before It’s Too Late
No, I get that. Listen, I have indigestion, and it's not even my payment. I've got hemorrhoids now. Our bodies are falling apart on your behalf, Terrence. Oh, boy. I can explain the first one. I can't explain the second one. I can't either.
The Ramsey Show
You Can Still Escape the Debt Spiral Before It’s Too Late
Oh, boy. Well, don't thank us too soon. That is youth. We haven't even dispensed of it yet, but I like how optimistic you are. What's going on?
The Ramsey Show
You Can Still Escape the Debt Spiral Before It’s Too Late
Okay, so let's walk through this here, John. So, see, the 57K also involves the negative equity, correct? Correct.
The Ramsey Show
You Can Still Escape the Debt Spiral Before It’s Too Late
All right, so we owe $57,000. Yes.
The Ramsey Show
You Can Still Escape the Debt Spiral Before It’s Too Late
So you have $2,000 a month in child support.
The Ramsey Show
You Can Still Escape the Debt Spiral Before It’s Too Late
All right, so what's your actual bring home?
The Ramsey Show
You Can Still Escape the Debt Spiral Before It’s Too Late
Oh, okay, good. All right, so what I'm trying to get at is how much, John, I want to get to quickly, how much could you...
The Ramsey Show
You Can Still Escape the Debt Spiral Before It’s Too Late
How much could you, if you just pay the bills, just your basic bills and your child support and this car payment, how much money left over do you have that we could put towards saving to get a, I'm thinking about a $10,000 car or something that's dependable, maybe $7,500 if I find myself a higher mile Honda or Toyota that'll get you back and forth to Tennessee.
The Ramsey Show
You Can Still Escape the Debt Spiral Before It’s Too Late
How much money could you put away each month right now?
The Ramsey Show
You Can Still Escape the Debt Spiral Before It’s Too Late
So what I'd like to see him do, John, is I'd like to see him save as much money. Let's get a $5,000, $6,000, $7,000 car, and let's sell this Stinger. And now we're at least, you know, we're now working on $30,000. No, no, $27,000 roughly is what we're working on.
The Ramsey Show
You Can Still Escape the Debt Spiral Before It’s Too Late
Okay. Yeah, because what you're building towards, Michaela, if I heard you correct, is that you and your husband believe this thing needs to be sold. Correct? It's the best move for her. That's what I heard.
The Ramsey Show
You Can Still Escape the Debt Spiral Before It’s Too Late
Yeah, that's another option. I gave you what I would do. I like what John's saying, too. Well, I'm doing what Ken would do.
The Ramsey Show
You Can Still Escape the Debt Spiral Before It’s Too Late
Listen, Terrence, I think very few guys could pull off a Buick LaCrosse like you could. I just got a sense you got enough swag.
The Ramsey Show
You Can Still Escape the Debt Spiral Before It’s Too Late
Yeah. Listen, I'm going to challenge you to get somewhere. Try 7,500. I think you get something dependable. You know, a car maker that's very dependable. You know the ones that just they're going to run forever. I'd take my chances on that. I'd do less cash right now because you've got to get out of this deal.
The Ramsey Show
You Can Still Escape the Debt Spiral Before It’s Too Late
We get it. What we're saying is explain the math now. Don't talk about selling the house six months, two years, what John is saying. But we're going to build to that, and we've got to build trust with her in explaining. And I would even show her receipts on the windows. Absolutely. Just walk her through it. Go, Mom, we did this. We'll settle it later. We just want to grieve with you.
The Ramsey Show
You Can Still Escape the Debt Spiral Before It’s Too Late
Well, this is super intense. You've got to be super intense to do that $3,000 a month. You can do it. You've got overtime options is what you let that slip out. You let that slip out. So I'd be getting overtime. I'd be working weekends. And to John's point, if we can sock $3,000 at a minimum away towards this, the 27, get yourself another Buick, my man.
The Ramsey Show
You Can Still Escape the Debt Spiral Before It’s Too Late
But, I mean, he likes it. He likes that lacrosse. I think he can find himself a nice lacrosse.
The Ramsey Show
You Can Still Escape the Debt Spiral Before It’s Too Late
I like that approach. But then when the time is right, you've got to cast vision the same way you did on this numbers thing. Thanks for the call. So sorry for your loss. This is The Ramsey Show.
The Ramsey Show
You Can Still Escape the Debt Spiral Before It’s Too Late
All right, let's go to Travis, who's joining us in Washington, D.C. Travis, how can we help today?
The Ramsey Show
You Can Still Escape the Debt Spiral Before It’s Too Late
What would be the reason for going to business school? What's on the other side of that?
The Ramsey Show
You Can Still Escape the Debt Spiral Before It’s Too Late
Okay. And you're currently in account management making $150,000. Did I understand that correct?
The Ramsey Show
You Can Still Escape the Debt Spiral Before It’s Too Late
Oh, your total comp. What does that include?
The Ramsey Show
You Can Still Escape the Debt Spiral Before It’s Too Late
All right. So how are we paying for business school? With a full scholarship. Full scholarship. Are you going to be able to work and maintain your current job while you're going to business school, or is this an all-in, I'm absolutely quitting because I have to?
The Ramsey Show
You Can Still Escape the Debt Spiral Before It’s Too Late
Sure. All right, let's talk about the current situation first. Do you guys have any debt?
The Ramsey Show
You Can Still Escape the Debt Spiral Before It’s Too Late
And what's her income? You're going to go from combined income of what to what?
The Ramsey Show
You Can Still Escape the Debt Spiral Before It’s Too Late
We don't want you using the emergency fund just to pad the income. Emergency fund is for emergencies only. And then I get nervous when I hear you talk about moving around investments. What does that mean?
The Ramsey Show
You Can Still Escape the Debt Spiral Before It’s Too Late
Well, no, I didn't say that I was struggling. No, he said they won't struggle. He said it would be tight. Ah, okay. Tighter.
The Ramsey Show
You Can Still Escape the Debt Spiral Before It’s Too Late
If I heard you right, Travis, you didn't say you guys will be struggling to make it paycheck to paycheck, correct?
The Ramsey Show
You Can Still Escape the Debt Spiral Before It’s Too Late
All right. Well, that's okay. I mean, again, a calculated move like this, it doesn't scare me. I just don't want you touching retirement accounts. If these investments are non-retirement and it's supplemental, then that's the only scenario by which we would be okay with that. But really, we want you to cut, cut, cut, and not be struggling where you go backwards financially. Okay.
The Ramsey Show
Your Bank Balance Is a Reflection of Your Habits
I don't think you do either. Not in this situation. You owe so little on it. You're going to knock it out.
The Ramsey Show
Your Bank Balance Is a Reflection of Your Habits
Plenty of money mistakes. And it's not a mistake that's going to set you back. I hope you've heard what Jade's told you. You're okay. Your instincts are right. You now know what to do. You've got all the intensity. My goodness, man. I need to take a breath just listening to you talk. You're so intense, which is great. I want this over.
The Ramsey Show
Your Bank Balance Is a Reflection of Your Habits
And, James, I love the intensity. I'm pointing it out to say you've got all of the things that you need. You have the know-how now. Yeah. And you've got the want to. And the know-how and the want to, when they come together, unstoppable. So we're cheering you on. You've got this. And before you know it, you guys are going to be out of debt. And now the future is so very bright.
The Ramsey Show
Your Bank Balance Is a Reflection of Your Habits
So no more beating yourself up. Let's just keep moving forward. My wife does say I worry too much, but I can't help it.
The Ramsey Show
Your Bank Balance Is a Reflection of Your Habits
That's all right. You'll be surprised how much worry will go away when you're done with this process.
The Ramsey Show
Your Bank Balance Is a Reflection of Your Habits
Well, that's all right. You're leading the way, and she's supportive. She's not fighting against you, correct? No, she's not.
The Ramsey Show
Your Bank Balance Is a Reflection of Your Habits
So you've got a good woman. You've got a great car. You've got a good plan here that's going to work, and you've got great momentum. So I'm not telling you to take the foot off the gas, but I do want you to give yourself a bit of a break and know now it's about intentionality. There's no panic. There's no reason to be scared. Just stay the course, and you'll get there, James.
The Ramsey Show
Your Bank Balance Is a Reflection of Your Habits
I absolutely promise you. You can hear it in his voice.
The Ramsey Show
Your Bank Balance Is a Reflection of Your Habits
This is The Ramsey Show, where America hangs out to have a conversation about their money, their profession, and their relationships. The phone number to jump in today is 888-825-5225. 888-825-5225. Alongside the incomparable, the fabulous, the wonderful, Jade Warshaw. I'm Ken Coleman. And we're here for you. Jay's going to help you today on how to save that money, budget that money.
The Ramsey Show
Your Bank Balance Is a Reflection of Your Habits
Fairwinds is federally insured by NCUA. All right. It's that time of year. Do you have a graduate in your life, a college grad or a high school grad? This is such a time of anxiety for those young people because they've been conditioned to do everything they can to get that college offer to then go get the major. to then go get the good job.
The Ramsey Show
Your Bank Balance Is a Reflection of Your Habits
And there's so much cultural pressure to try to figure out at such a young age, what should I do with my life? And we're talking about professionally here. And that's why we created the new version of my Get Clear Career Assessment. This is Find the Work You're Wired to Do Student Edition. Comes out today. It's actually out and flying out of the bookstore, I'm told.
The Ramsey Show
Your Bank Balance Is a Reflection of Your Habits
So very, very proud of this project. What does it do in short? It helps answer that question for you, the parent, the grandparent, the guardian, the family friend, for that young person who's trying to figure out, what do I do with my professional life? In other words, what am I wired to do? And the answer is pretty clear. To use what you do best. That's your talent. To do work you love.
The Ramsey Show
Your Bank Balance Is a Reflection of Your Habits
That's a sense of passion. To produce results you care deeply about. That's a sense of mission. And the assessment measures... All three of those, uh, distinct wires in, in these young people. And this is written for young people. The book itself is about a 45 minute guiding lesson on what to do with your assessment results.
The Ramsey Show
Your Bank Balance Is a Reflection of Your Habits
And you get a absolutely stellar assessment result, uh, with a purpose statement in it. And it'll help you, that parent, grandparent, friend, guardian, whatever coach teacher, uh, Give guidance and confirmation to that young person. So find the work you're wired to do. Student Edition comes with the Get Clear Career Assessment all together for only $34.99.
The Ramsey Show
Your Bank Balance Is a Reflection of Your Habits
It's a great grad gift, if I do say so myself. I've been sending them out, by the way, all these invites coming around. And I'm like, all right, we'll throw some cash at these kids. But also, let's give them something they can use.
The Ramsey Show
Your Bank Balance Is a Reflection of Your Habits
Well, I appreciate that very much. I'll sign that. But there it is. You can get it at ramseysolutions.com slash store, ramseysolutions.com slash store, or the link in the show notes if you're on YouTube or podcast. Find the work you're wired to do, student edition. Derek is up next in Dallas, Texas. Derek, how can we help today?
The Ramsey Show
Your Bank Balance Is a Reflection of Your Habits
So the first thing that comes to mind is I'm going to get either a better job or an additional job. First thing that comes to my mind. I'm assuming you've processed that, right?
The Ramsey Show
Your Bank Balance Is a Reflection of Your Habits
Okay, so you can do this one of two ways. Tell Jade and I, how much more per hour do you want to make, or how much additional money do you want to make per month?
The Ramsey Show
Your Bank Balance Is a Reflection of Your Habits
Tell me that number. You know what you make right now, right? So based on what you bring home now, and again, I don't care how you answer it, but I want you to tell us. Give us a target. What are you looking to make?
The Ramsey Show
Your Bank Balance Is a Reflection of Your Habits
No, I didn't say we have to complain, but we're working through this here. So have you talked to Pops about this desire to make two more bucks an hour?
The Ramsey Show
Your Bank Balance Is a Reflection of Your Habits
Right. Well, one thing we want to do going forward is not tell millions of people that your dad's been paying you under the table. We want to kind of hold back that information. Now he's paying you. He's withholding taxes, I hope.
The Ramsey Show
Your Bank Balance Is a Reflection of Your Habits
I'm just kidding. The IRS is already tracking you, young man. There's nothing I can do about it. The horse is out of the barn. So first things first, you can talk to your dad. It's a unique deal. But I'm going to give you the same advice I'd give any young person because of a very large audience listening and watching here. We don't go and ask for a raise. It's a horrible idea.
The Ramsey Show
Your Bank Balance Is a Reflection of Your Habits
I don't care if it's your dad or anybody else that puts that leader on the defensive. So what you want to do is sit down with dad and go, Dad, I want to make more money per hour. I want to make more money per month, per year. Is there an opportunity for me to do that with you? And what does that look like? That's the conversation you have with dad.
The Ramsey Show
Your Bank Balance Is a Reflection of Your Habits
Outside of that, because you don't want to quit the job with your dad and you like the work – And the reason I was pushing you to go, how much more money do you want to make per month? And you couldn't give me a number. So that's your homework assignment. I want you to know tomorrow morning when you wake up what your financial goal is as it relates to making more money right now.
The Ramsey Show
Your Bank Balance Is a Reflection of Your Habits
You need to know that. There's an old phrase, and it's not attributed to anybody, Jade. It says, the person who aims for nothing hits it every time. And there's some great truth to that. So if the numbers, I want to make an additional two grand a month, Ken, $24,000 a year, fine. But we got to have a number.
The Ramsey Show
Your Bank Balance Is a Reflection of Your Habits
And then when we have a number, we can now say, how is it that I go about making that money? Well, I know that I may not... have the opportunity to make much money in my dad's company. So that means I got to start my own side hustle business, or I got to go work some overtime, or I got to leave my dad's company altogether where I'm making 18 an hour.
The Ramsey Show
Your Bank Balance Is a Reflection of Your Habits
Jade, I want to bring you in here because you're one of the most goal-oriented people I know. You've heard this young man right here. What say you?
The Ramsey Show
Your Bank Balance Is a Reflection of Your Habits
Let's put you on the spot. I think she makes a great point. Okay. What's the why?
The Ramsey Show
Your Bank Balance Is a Reflection of Your Habits
And there's a little extra jingle in there. Yeah, exactly. What if we suggest a couple of whys, Derek? Okay. So my co-host here has no idea where we're going. We're going to spontaneously go one back and forth. We're going to give him some whys. Yes. So one is saving up money to put a nice deposit down or to make more money to be able to afford a nice apartment so I can leave my house.
The Ramsey Show
Your Bank Balance Is a Reflection of Your Habits
I love that. Give them another why.
The Ramsey Show
Your Bank Balance Is a Reflection of Your Habits
All right. I'll give you another why. After we've got an apartment, we've learned how to live on our own and sustain rent and show some budget discipline. We're going to start saving up for a down payment on a house. It's another great why. That is a great why. One more. I'll let you wrap up the whys.
The Ramsey Show
Your Bank Balance Is a Reflection of Your Habits
Derek, we just gave you four whys. How do you feel about those whys? They tend to resonate with you? They resonate with me, yeah. Okay, then. So you get to come up with more whys. But Jade makes a very good point. You will find yourself far more driven when there's an actual visual target, a visual destination. And she, I think, positioned it so beautifully as a why do I want to make more money.
The Ramsey Show
Your Bank Balance Is a Reflection of Your Habits
So back to the original question. I think you've got to talk to pops and see what a promotion looks like. But I also think you're going to have to look outside of that because I think for you to make $16, $18, $20 an hour, you're going to have to expand your vision and see what's out there and get after it, young man.
The Ramsey Show
Your Bank Balance Is a Reflection of Your Habits
And I would recommend, by the way, as soon as possible, get out of mom and dad's house. I think that's the logical next step for you. You feel so accomplished and a nice boost of confidence that every young adult needs. That's right. Comes from leaving the nest. Yes. He's got it good right now.
The Ramsey Show
Your Bank Balance Is a Reflection of Your Habits
Mama's probably making him three squares a day. He has no payments. All right, my man. Get after it.
The Ramsey Show
Your Bank Balance Is a Reflection of Your Habits
All right, let's go to Tyler in Jacksonville, Florida. Tyler, how can we help today?
The Ramsey Show
Your Bank Balance Is a Reflection of Your Habits
Yeah. Do you have a tax pro in your life that you can consult on this?
The Ramsey Show
Your Bank Balance Is a Reflection of Your Habits
No, that's all right. I think Jay gave you a great answer as she walked you through it. I'm just saying consult with them so you have an idea what the tax implications are so that you know. Mm-hmm. Right.
The Ramsey Show
Your Bank Balance Is a Reflection of Your Habits
Again, very quickly. And what the difference is, is now you're on the other side of the debt. And I think it's a nerve wracking thing, Jade, when we hear from people that say, I've got all this money in savings and do I empty it? Yeah. And again, that's the wrong mindset. It's not that I'm emptying my savings. It's that I'm paying off a car that I've been in massive debt for.
The Ramsey Show
Your Bank Balance Is a Reflection of Your Habits
I like that. It's a good word. I want to go to a question from our Ramsey Network app. This is from Tariq, who submitted this question. My wife and I are in our mid 40s with an 11 year old and a 14 year old. We share general financial information with them. so that they will grow up knowing how to properly manage finances.
The Ramsey Show
Your Bank Balance Is a Reflection of Your Habits
We love it when they ask questions, but recently they've been curious about our current financial situation, specifically asking us, how much money do we have? We live modestly considering our net worth and are concerned that if they knew we lived well below our means, they might begin to resent their current lifestyle or let the information slip when talking with their friends.
The Ramsey Show
Your Bank Balance Is a Reflection of Your Habits
Where do we draw the line in the sand so that we're validating their curiosity while at the same time preserving our privacy? I love this question because our youngest daughter, she just recently came back at it once more.
The Ramsey Show
Your Bank Balance Is a Reflection of Your Habits
No, she knows better now. I've corrected that. She's like, how much do you make? And I'm just like, babe, I'm not telling you.
The Ramsey Show
Your Bank Balance Is a Reflection of Your Habits
And so I think there's a very clear – on that particular one, I'll say there's a very clear boundary. I think so. That they're not able – they're not mature enough to handle it. They don't even understand the value of a dollar in the first place. I agree. And letting it slip out, certainly to friends and other family members, that is a – an onion that doesn't need to be peeled.
The Ramsey Show
Your Bank Balance Is a Reflection of Your Habits
Yeah. And so then the second question is, would they resent the way they live? And the answer is, I don't know if the word is resent, but they would start going, oh, and they start doing really bad math because they don't understand money and the value of money. Why
The Ramsey Show
Your Bank Balance Is a Reflection of Your Habits
What are you going to say when you're youngsters?
The Ramsey Show
Your Bank Balance Is a Reflection of Your Habits
By the way, do you remember that famous clip? It's out there on YouTube, I'm sure, where he does that example with Theo.
The Ramsey Show
Your Bank Balance Is a Reflection of Your Habits
He puts the monopoly money and he gives him all this money and he starts taking it back as he walks through the everyday expenses. To this day, that's probably one of the greatest, whoever came up with that and wrote that segment. That's such a brilliant, brilliant example of how kids, how they handle the realities of money. Yeah. And I'll just, I'll be honest with you.
The Ramsey Show
Your Bank Balance Is a Reflection of Your Habits
And now all of a sudden you can build up and you'd be surprised how you can make your way through what we call the emergencies of life. You can maneuver your way through until you build up that emergency fund. So I agree with Jade. You're asking what would we do? What should you do?
The Ramsey Show
Your Bank Balance Is a Reflection of Your Habits
We got, it's been really fun to see my two boys, you know, both my boys as they've been driving and, Um, when I remember when they first went out, you know, they first went there like 16, I was paying their gas at the time they're in football and all this kind of stuff. So limited how they could work.
The Ramsey Show
Your Bank Balance Is a Reflection of Your Habits
But anyway, the point is, is they would actually, even though it was my debit card, them looking at how much gas cost. Oh, that reaction when they filled up their tank. Yeah. And they were like, wow, dad, that's crazy. How expensive gas is. I was like, welcome to my life, pal. Yeah.
The Ramsey Show
Your Bank Balance Is a Reflection of Your Habits
Because I'm not in that game anymore. I'm curious.
The Ramsey Show
Your Bank Balance Is a Reflection of Your Habits
Is that a pain for you to be carrying around all that change? Because the 25 cent hits, you got to have quarters laying around the house.
The Ramsey Show
Your Bank Balance Is a Reflection of Your Habits
I was going to say, Mama doesn't want to be throwing out 75 cents here.
The Ramsey Show
Your Bank Balance Is a Reflection of Your Habits
I'll spot you a quarter next time. Oh, that's good. Do your chores. Here's a quarter. Call somebody who cares. Old Travis Tritt.
The Ramsey Show
Your Bank Balance Is a Reflection of Your Habits
And yeah, I think you knock the car payment out and just think about how life changes when you don't have that car payment.
The Ramsey Show
Your Bank Balance Is a Reflection of Your Habits
This is The Ramsey Show, where we help you win with your money, win in your profession, and win with your relationships. 888-825-5225 is the phone number. I'm Ken Coleman, alongside Jade Warshaw, and we're here for you, America. 888-825-5225. Let's go to Pittsburgh area, where Tracy joins us. Tracy, how can we help today?
The Ramsey Show
Your Bank Balance Is a Reflection of Your Habits
You bet. What is happening in your world?
The Ramsey Show
Your Bank Balance Is a Reflection of Your Habits
That's another good thing for the mindset there. Because I'm going to tell you something. The psychology is real, George, when you think about emptying the savings account. That's real. Yeah. You know, to this day, I've said this before, Jade, I've got a large emergency fund. I try to never use it.
The Ramsey Show
Your Bank Balance Is a Reflection of Your Habits
And then said, hey, you guys want to come out to the garage and check it out?
The Ramsey Show
Your Bank Balance Is a Reflection of Your Habits
Real quick question. I want you to keep going, but I'm just curious. What is the relationship? Can you tell us what that is? Is it sibling?
The Ramsey Show
Your Bank Balance Is a Reflection of Your Habits
First cousin. First cousin. And did you grow up with said cousin? Did you spend a lot of time with her as you were growing up, or was it more distant?
The Ramsey Show
Your Bank Balance Is a Reflection of Your Habits
Okay. Oh, and how does this rub you when this happens? And you just gave us one example, but this is a pattern.
The Ramsey Show
Your Bank Balance Is a Reflection of Your Habits
That's the third scenario. She wants us to know how successful she is. I think that's what's going on.
The Ramsey Show
Your Bank Balance Is a Reflection of Your Habits
All right, let's go rewind. We've, we've got your opinion. I want to rewind. But I have,
The Ramsey Show
Your Bank Balance Is a Reflection of Your Habits
And my first reaction is, all right, Stacey, this happened. So let's figure out what we're moving around.
The Ramsey Show
Your Bank Balance Is a Reflection of Your Habits
OK, I got to hear Ken. I want some more questions. All right. So, Tracy, are you the only family member that notices this and talks about this and is irritated by this?
The Ramsey Show
Your Bank Balance Is a Reflection of Your Habits
All right, another question. Sorry, I'm not cutting you off. I'm going to do rapid fire here. When she said that, let's talk about the BMW thing, and it came out of the blue, did you see anybody else kind of look at you, like roll their eyes? That's the eye contact, yeah. Or make the, like, oh, geez. Did any of that happen? Yeah.
The Ramsey Show
Your Bank Balance Is a Reflection of Your Habits
When you said to us that you think she's insecure, give us some evidence as to you said she's like a sister to you. Give me one other very clear example of her insecurity and how it pops up around how much money she makes.
The Ramsey Show
Your Bank Balance Is a Reflection of Your Habits
One more question. I disagree with Jade. I will say, I'm going to make a statement and then a question. I disagree that it's just normal for somebody at an Easter gathering to bring up that they got a massive bonus and went out. And bought a Beamer, and I want to show you. I've got to tell you, if one of my cousins did that, I'd be like, you're a pinhead.
The Ramsey Show
Your Bank Balance Is a Reflection of Your Habits
I wouldn't say that to him, but I'm like, I think that's obnoxious, to say the absolute least. So I'm on Team Tracy because of that behavior.
The Ramsey Show
Your Bank Balance Is a Reflection of Your Habits
So the question is, when she's around you, without discussing money, she just always takes it to how much she spent on something. That's what I heard. Exactly.
The Ramsey Show
Your Bank Balance Is a Reflection of Your Habits
I think, I want to know what Jade says, so I'll be quick. Here's what I think. I think that a lot of this is her. And I think it's very normal for you to actually feel this way. However, you're giving her way too much power. And it's not your problem to fix. It's not your conversation to have. I think she is who she is. And I don't think you confronting her is going to change it.
The Ramsey Show
Your Bank Balance Is a Reflection of Your Habits
So I would go the route of putting up a boundary that every time she does that, I would change the subject on her.
The Ramsey Show
Your Bank Balance Is a Reflection of Your Habits
i think it'll do two things for you it'll train you to not give her power and let it irritate you and number two i think it puts up a natural conversational boundary to change the subject jade you got 20 seconds what would you add to that i'd want to know if she started from nothing like did she start from the bottom and now we're here and she's just looking for someone to celebrate with because i want to celebrate with my sister and i do this is obnoxious insecurity i
The Ramsey Show
Your Bank Balance Is a Reflection of Your Habits
That's right. Great, great point there. Let's go to George. From one George to another George. Portland, Maine is where he is. George, how can we help?
The Ramsey Show
Your Bank Balance Is a Reflection of Your Habits
You don't have to be mean to be obnoxious.
The Ramsey Show
Your Bank Balance Is a Reflection of Your Habits
Hey, folks, buying or selling a home is a big deal. You know all the stress, all the emotions attached to that. It's a massive transaction. And you just don't want to do it on your own. You absolutely need an expert in your corner, whether you're selling or buying. And that's why we have our Ramsey Trusted Program.
The Ramsey Show
Your Bank Balance Is a Reflection of Your Habits
It's the only way to find a top agent you can trust that will make sure the process is seamless and just not a stressor, but a win for you. So you can find a local... Ramsey Trusted Real Estate Pro for free by going to ramseysolutions.com slash agent. That's ramseysolutions.com slash agent. Or the link is in the show notes if you're on YouTube or podcast.
The Ramsey Show
Your Bank Balance Is a Reflection of Your Habits
We ran out of time and we were doing some post analysis. This is good.
The Ramsey Show
Your Bank Balance Is a Reflection of Your Habits
All right. So my only comment on that and what you just said is I'm fine and good with all that. I just am a little bit more conservative and I think there needs to be a very clear boundary with just about almost everybody in your life as to who you're sharing with that you got a big fat bonus.
The Ramsey Show
Your Bank Balance Is a Reflection of Your Habits
I think that's your husband or your spouse or whatever.
The Ramsey Show
Your Bank Balance Is a Reflection of Your Habits
Or you can say, but even then, are you specific?
The Ramsey Show
Your Bank Balance Is a Reflection of Your Habits
That's my point. But you can say, man, we crushed it this year.
The Ramsey Show
Your Bank Balance Is a Reflection of Your Habits
Like, you're not going to be like, I just went and dropped $80,000 on a car. Oh,
The Ramsey Show
Your Bank Balance Is a Reflection of Your Habits
I would be like, let's go celebrate a unique relationship. Let's say that.
The Ramsey Show
Your Bank Balance Is a Reflection of Your Habits
Yeah. But not your first cousin who you don't see all the time.
The Ramsey Show
Your Bank Balance Is a Reflection of Your Habits
I don't think, well, again, I would say this about siblings. I think you got to be very careful about what you're sharing about what you make to siblings as well. Yeah, siblings, yeah. Especially if one of you's, one of you's, what do I say? Like from the New Jersey, I'll say, one of you's guys is like a higher up the ladder. You know what I'm saying? I just think that. You're not wrong.
The Ramsey Show
Your Bank Balance Is a Reflection of Your Habits
I don't think you're wrong. I just think we got to be very, very careful because there's so much emotion.
The Ramsey Show
Your Bank Balance Is a Reflection of Your Habits
Who can handle it. Who can handle it. Because if you throw out something that you're legitimately excited about and it's got a number and that number is foreign to them and they got bad emotions around you or themselves or their money. But again. Avoid it.
The Ramsey Show
Your Bank Balance Is a Reflection of Your Habits
Well, you're really passionate about this. I think this is a great campaign. I just think there's too much psychology around money to be talking about it in depth with a lot of people. Super small circle.
The Ramsey Show
Your Bank Balance Is a Reflection of Your Habits
To divulge everything? No. No, you're right. You're right. Like in other words. You're right. In other words. Okay. So full disclosure. Okay.
The Ramsey Show
Your Bank Balance Is a Reflection of Your Habits
jade and sam and stacy and i we are friends we enjoy spending time together if we went to dinner with you and sam yes and sam said over dinner hey our company i said to say how's it going because i do say that how's how's biz and he said bro banner year like yeah 3x what we did last year you would be fine and dandy I'm absolutely, you know, celebrating. Yes. I'm like, man, that's awesome. Yes.
The Ramsey Show
Your Bank Balance Is a Reflection of Your Habits
But two things are not happening. He's not saying he's not telling me that exact number. Yes. Maybe if I asked, and even then it would be a gross number. It would be like, what was your gross? Like, I'm not going to get it. I wouldn't ask him, but he's also not going to go after I celebrate. He's not going to go.
The Ramsey Show
Your Bank Balance Is a Reflection of Your Habits
And that's my point. I think there's like the surface. I'm not going to be a jerk. Right. But at the same time, I'll be like, oh, okay. All right. Just throwing these numbers around.
The Ramsey Show
Your Bank Balance Is a Reflection of Your Habits
I will say this, but I'll come back to the point that we had with the cousins who were like sisters. Yes. If in your scenario, he says to me, and Sam is such a low-key, humble guy. He's low-key.
The Ramsey Show
Your Bank Balance Is a Reflection of Your Habits
But we have to make the point here. He said, yeah, and he goes, as a result, he's like, I decided, dude, it was hard. It was hard to do this. It was a lot of money, but it was a great year. I've always wanted a G-Wagon. I'm making this up. And he says, I popped for one. That to me, that's okay. That's good. Yeah. The specificity.
The Ramsey Show
Your Bank Balance Is a Reflection of Your Habits
I just think it can, it just is too risky.
The Ramsey Show
Your Bank Balance Is a Reflection of Your Habits
Because the minute you put a number out there, it's a comparison deal. It's different. Whether you're healthy or not, I could be completely psychologically healthy. I could be humble. I could be living in gratitude. And I hear a number. And as soon as I hear a number, because it's a number, that means there's a number below it and there's a number above it.
The Ramsey Show
Your Bank Balance Is a Reflection of Your Habits
There's psychology around people, what they make.
The Ramsey Show
Your Bank Balance Is a Reflection of Your Habits
This has been a theme today. Should kids know? My point is, the minute you give me a number, I got my number. And my number is either above that or my number is below it.
The Ramsey Show
Your Bank Balance Is a Reflection of Your Habits
Yeah. Expensive. I didn't say affordable. I said if you said... I'm just kidding.
The Ramsey Show
Your Bank Balance Is a Reflection of Your Habits
Yeah, exactly. When you throw a number out there, folks, it gets dangerous. Stay away from the numbers. I hate to admit this, but I don't always eat right. I know I need to eat more fruits and veggies, but sometimes I just have to pound some chips because they taste so good. That's why I love my Field of Greens. It helps me eat healthy when I don't have much time.
The Ramsey Show
Your Bank Balance Is a Reflection of Your Habits
And each fruit and vegetable in Field of Greens was doctor selected for a specific health benefit. Heart, lungs, kidney, metabolism, even healthy weight. And folks, I ain't getting any younger. It's super easy to mix with water. And here is the great part of it. I thought it might taste like grass, but it tastes great. And only Field of Greens makes this promise.
The Ramsey Show
Your Bank Balance Is a Reflection of Your Habits
Your doctor will notice your improved health or your money back. So go to fieldofgreens.com slash Ramsey for 20% off your first order. That's fieldofgreens.com slash Ramsey to save 20% on your first order.
The Ramsey Show
Your Bank Balance Is a Reflection of Your Habits
And I'm going to help you on how to make more of the money. And we weigh in. We always have a good time. You never know what we're going to agree on or disagree on. It's quite exciting. I love it. It's a bit of potpourri, I like to say. Okay. You never know. Just a wonderful little bowl. A mélange. That's right. We're going to start it off with George in Riverside, California today.
The Ramsey Show
Your Bank Balance Is a Reflection of Your Habits
All right, it's time for our question of the day brought to you by YRefi. If you've got a defaulted private student loan and no one else is going to work with you, I want you to try our friends at YRefi. They help you explore refinancing options with a low fixed rate and a payment plan based on your ability to pay. Go to YRefi.com slash Ramsey. That's the letter Y-R-E-F-Y dot com slash Ramsey.
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Your Bank Balance Is a Reflection of Your Habits
It may not be available in all states.
The Ramsey Show
Your Bank Balance Is a Reflection of Your Habits
Uh-oh. We've got some very competing issues here, Hayden. And I want to just point out the word in the last sentence. We want to buy a house. So I don't want to spend it all on loans. All right, financial coach Jade, what do you say when somebody hits you with that and goes, but I don't want to.
The Ramsey Show
Your Bank Balance Is a Reflection of Your Habits
Yeah, I agree. Cooper is up now in Knoxville, Tennessee. Cooper, how can we help today?
The Ramsey Show
Your Bank Balance Is a Reflection of Your Habits
Well, good things come to those who wait, Cooper. I hope it's worth it for you. Now I'm feeling the pressure.
The Ramsey Show
Your Bank Balance Is a Reflection of Your Habits
Yeah. And I, you know, great. She gave you great financial advice. Can't add anything to that. It's beautiful. I'm just going to speak to you, man to man. I've been where you are. That first child gets there and all of a sudden this newfound primal responsibility just kind of washes over you.
The Ramsey Show
Your Bank Balance Is a Reflection of Your Habits
And Cooper, I think you've got to be very, very wise to make sure that you see what's important in the now and not pay too much attention to what's important in the next. And that's not unique to men or anything else. It's unique to any parent when they start parenting. But it's a primal human problem that we think so much about the next that we miss what we need to do in the now.
The Ramsey Show
Your Bank Balance Is a Reflection of Your Habits
and that'll get you in trouble uh in a variety of ways get you in trouble financially it'll get you in trouble emotionally uh get you in trouble spiritually i mean i could go down the list here mentally so my challenge to you is and jade gave you the step-by-step on what to do with the baby steps they work trust the process here and you're going to be okay don't let your uh
The Ramsey Show
Your Bank Balance Is a Reflection of Your Habits
Fear about the next or your plans about the next override what you need to do in the now. And that would be my advice to you in this time. So, you know, you stay that course, you're going to be fine financially and you're going to pay this thing off. And I would pay that car off with reckless abandon as soon as the baby's.
The Ramsey Show
Your Bank Balance Is a Reflection of Your Habits
I like that. You know what I mean? Like as soon as the baby's here and healthy and all that. Go for it. I absolutely would attack it with this newfound income and congratulations on that. But if you do that, you're going to feel so much better. And I want to give you a super practical reason why. What is your car payment on that car or both of those cars or whatever it is?
The Ramsey Show
Your Bank Balance Is a Reflection of Your Habits
What's your combined car payments? 280 and 420 so it was at 700 bucks 700 dollars now cooper for just a second i want you to just think about what happens if jade and i promised you a 700 a month bump how would that make you feel i'd be stoked well you got a 700 a month raise coming as soon as you pay those cars off Right. That's $8,400 a year if I remember my basic multiplication. Is that right?
The Ramsey Show
Your Bank Balance Is a Reflection of Your Habits
I was going to have to take my shoes off if that was wrong. Use all my toes and my fingers to figure that one out. You just freaked out. That's a metaphor, and I'm actually going to take my shoes off. I was worried. I know. You would smell the foot funk right here under the desk.
The Ramsey Show
Your Bank Balance Is a Reflection of Your Habits
I think so, too, but it was a visceral reaction. Bad metaphor. But, Cooper, this is a great long-term play for you as well, just in getting that raise from not paying those car payments. Congrats on the little one. Way to go. You're going to do great, Cooper.
The Ramsey Show
Your Bank Balance Is a Reflection of Your Habits
All right, let's get to Alan in Denver, Colorado. Alan, how can we help?
The Ramsey Show
Your Bank Balance Is a Reflection of Your Habits
We're doing great. What's going on with you?
The Ramsey Show
Your Bank Balance Is a Reflection of Your Habits
We've got about 40 seconds here. So yeah, drop that advice.
The Ramsey Show
Your Bank Balance Is a Reflection of Your Habits
What happened to the money if you went into debt? What was that? Sorry? What happened to the grandmother's inheritance money? That only paid a partial amount of the car, and you still owe $23,000? It's coming.
The Ramsey Show
Your Bank Balance Is a Reflection of Your Habits
Oh, okay. Well, that's good information, though.
The Ramsey Show
Your Bank Balance Is a Reflection of Your Habits
So total money coming to us if we sell the home, the first home, plus the inheritance, we're at $316,000.
The Ramsey Show
Your Bank Balance Is a Reflection of Your Habits
Yeah. And I'm not saying you need to refi, but I would at least talk to your mortgage pro on all of this or your bank because I'm assuming he's in a jumbo loan. And so I don't know what the rate difference is right off the top of my head here. And I'm not going to spend time researching it on the air here.
The Ramsey Show
Your Bank Balance Is a Reflection of Your Habits
But I would at least be looking at that because you're going to be able to put a sizable chunk on there.
The Ramsey Show
Your Bank Balance Is a Reflection of Your Habits
But this is an absolute no brainer. And it's very interesting to me that you asked a second time after Jade walked through it. You're like, so I should sell the house. And the answer is absolutely. And I think there's going to be people in your life who probably already told you you shouldn't. But I want to take that on. I knew it.
The Ramsey Show
Your Bank Balance Is a Reflection of Your Habits
And by the way, every time anybody's called the show that I've been on and I've asked this question, let me let me let me destroy their their theory, if I may. Okay. Yeah, absolutely. Well, you've got an asset, and it's cash flow positive. Okay. Sound familiar? Yep. Great. Let's run the numbers. You told me that your mortgage payment on that is $1,400 a month, and you're getting $2,300 in rent.
The Ramsey Show
Your Bank Balance Is a Reflection of Your Habits
That is a whopping $900 a month. Right, absolutely. That ain't a lot of money. Okay. And nine times 12 is what is it?
The Ramsey Show
Your Bank Balance Is a Reflection of Your Habits
That's gross. That's, that's before you pay any home expenses. You are not even breaking even is my guess on some years. And if you are making a little bit of money, it's peanuts. So you remove this risk and yes, you don't have the asset anymore, but you don't have the risk.
The Ramsey Show
Your Bank Balance Is a Reflection of Your Habits
That's my point. So I was trying to destroy their theory.
The Ramsey Show
Your Bank Balance Is a Reflection of Your Habits
You know, this idea, well, you're cash flow positive. Maybe not at all, Jade.
The Ramsey Show
Your Bank Balance Is a Reflection of Your Habits
Sell the house, man. You have overextended and you're two months in.
The Ramsey Show
Your Bank Balance Is a Reflection of Your Habits
Um, yeah, I'd kick the tires on that. And to Jade's point now with, now we're going to put all this extra money in and we're, you're in the baby step now of baby step three and all that extra money goes towards three to six months of expenses. Talk about how that's going to let you to sleep.
The Ramsey Show
Your Bank Balance Is a Reflection of Your Habits
I agree. Sell it, my man, and sell it and never look back.
The Ramsey Show
Your Bank Balance Is a Reflection of Your Habits
All right, let's go to James right here in our neck of the woods, Nashville area. James, how can we help today?
The Ramsey Show
Don’t Let Your Present Circumstances Define Your Future
Yeah, $15 an hour. It's not steady income. Like in the wintertime, I make maybe $1,500 a month. And then in the busier times of year, I make maybe $2,500 a month.
The Ramsey Show
Don’t Let Your Present Circumstances Define Your Future
I run his market and I sort fruit and yeah. do a bunch of random stuff, prune trees. Yeah.
The Ramsey Show
Don’t Let Your Present Circumstances Define Your Future
Um, I'm living at home with mom and dad. Yeah.
The Ramsey Show
Don’t Let Your Present Circumstances Define Your Future
Um, hard question to ask at this point. Um, I would like to either be married, and if I'm not married, be doing something in the medical field.
The Ramsey Show
Don’t Let Your Present Circumstances Define Your Future
Yeah, so I have a question regarding life insurance. So I'm looking at a policy through Zander at 10 times my income, and the last variable my wife and I need to nail down is the duration of the term life insurance. Now, I've taken FPU before. No, you normally recommend 15 to 20 years, but my question is if that's right for our situation.
The Ramsey Show
Don’t Let Your Present Circumstances Define Your Future
So I have other context to give there, but I'll let you go ahead and ask.
The Ramsey Show
Don’t Let Your Present Circumstances Define Your Future
Yeah. So, um, basically over the next 10 or so years, um, my wife and I intend to have more kids. Um, so there's a lot of life coming at us in the next 10 years. And I've heard you mentioned on the show before that again, life comes in stages. It's not all at once and you want your insurance to reflect that.
The Ramsey Show
Don’t Let Your Present Circumstances Define Your Future
So my thought is, does it make more sense if we keep having kids over the next 10 years to get a policy that's 10 years, And then at the end of that, get one that's 20. Because if I get a policy now that's 20 years, our child that's on the way, she'll be out of the house hopefully at that point. But if we have kids in 10 years, I would need to take out another one.
The Ramsey Show
Don’t Let Your Present Circumstances Define Your Future
So does it make more sense to take a shorter policy and then take out a 20 or maybe 25-year policy at the end of that, rather than just taking out a 20-year policy now that I know I will probably end up changing in 10 years?
The Ramsey Show
Don’t Let Your Present Circumstances Define Your Future
Over and over and over and over and over and over and over and over.
The Ramsey Show
Don’t Let Your Present Circumstances Define Your Future
Hello, Ramsey team. It's a pleasure.
The Ramsey Show
Don’t Let Your Present Circumstances Define Your Future
Well... I just wanted y'all's take on making sure I'm not crazy and considering an $80,000 new car, a Tesla Model S. Cool. Nice car. Yes, sir. All right. So what do you make? Well, I make $360,000 a year. Cool. What's your net worth? I've got, without the house included.
The Ramsey Show
Don’t Let Your Present Circumstances Define Your Future
So I'm a 21-year-old girl. I'm not planning to go to college anytime here soon. And I recently started getting all my money. My dad would get my money before because, you know, take care of expenses and stuff. And I thought I knew how to manage money pretty good, but it turns out I don't. So basically, my question is, what should I, as a 21-year-old, be doing to build wealth at this point?
The Ramsey Show
Don’t Let Your Present Circumstances Define Your Future
I have about $6,000 saved, and yeah.
The Ramsey Show
Don’t Let Your Present Circumstances Define Your Future
I have a car. Yes, I work four days a week, 15-hour-a-day job.
The Ramsey Show
Don’t Let Your Present Circumstances Define Your Future
I work for my brother at his apple orchard.
The Ramsey Show
Building Wealth Happens One Baby Step at a Time
What are your thoughts on that number?
The Ramsey Show
Building Wealth Happens One Baby Step at a Time
Yeah. I would really do the investment calculator, Sarah. I really would so that you can actually see how these numbers play out. Because, again, you could make the case to put $150 to $200 away per kid. That's real right now. That won't cover a lot of schools for four years. We know that.
The Ramsey Show
Building Wealth Happens One Baby Step at a Time
Around 900. Okay. So what is the question? I love how John answered. He's absolutely right. So what is the specific giving strategy or question marks you have around this? What are you pondering?
The Ramsey Show
Building Wealth Happens One Baby Step at a Time
200, you're easy, okay. You're fine. But I just believe that it's a tough thing to discuss, John, because you and I both, we talk about this all the time, higher ed is going to look dramatically different.
The Ramsey Show
Building Wealth Happens One Baby Step at a Time
Okay, let me ask you this. Actually, we've never talked about this. If that's true, I don't see how it gets more expensive. I see it getting less expensive.
The Ramsey Show
Building Wealth Happens One Baby Step at a Time
Oh, no, I think it's going to happen.
The Ramsey Show
Building Wealth Happens One Baby Step at a Time
And see, that's where I think, you know what? That's a fun discussion for another time.
The Ramsey Show
Building Wealth Happens One Baby Step at a Time
I think there will be a premium level, just like there's really fancy restaurants now. That's exactly right. But I do think we're seeing the cost of tuition, student loans. I think COVID started the tide. I do think we're going to see decentralized higher ed. And thus, I think it's going to be a lot less expensive. That would be my prediction. I could be wrong. I agree with you.
The Ramsey Show
Building Wealth Happens One Baby Step at a Time
I still think they'll be your premium place. There's always going to be a Ritz Carlton.
The Ramsey Show
Building Wealth Happens One Baby Step at a Time
That's exactly right. All right, quick break. He's Dr. John Delaney. I'm Ken Coleman. You're listening to The Ramsey Show.
The Ramsey Show
Building Wealth Happens One Baby Step at a Time
Welcome back to The Ramsey Show. Thrilled to have you with us. 888-825-5225 is the number to jump in. I'm Ken Coleman. Dr. John Deloney is joining me today. Jack is with us now in Cleveland, Ohio. Jack, how can we help? Hey, guys. How are you? We're having a blast. What's going on with you?
The Ramsey Show
Building Wealth Happens One Baby Step at a Time
Welcome to The Ramsey Show, where we help you win in your life. We're going to help you win in your money, win in your profession, and win in your relationships. The phone number to jump in today so we can coach you up is 888-825-5225. Alongside the incomparable The Doctor Is In sign is hanging above my head, Dr. John Deloney. What's up? My pal and seatmate, if you will.
The Ramsey Show
Building Wealth Happens One Baby Step at a Time
Yeah, I mean, Jack, I'm sitting there listening to you and John talk. You already knew the answer to the question that you asked. I think you're – and again, no judgment here. I'm seriously putting myself in your shoes. I would be a mess internally if I were in your shoes right now because I would be afraid that –
The Ramsey Show
Building Wealth Happens One Baby Step at a Time
my ex isn't going to like what is the reality, and she's going to say something or do something, and then my kid is going to think that I don't love him as much, I would be sick to my stomach. Just being honest, John. Yeah, heck yeah. Jack, I think that's what you're dealing with.
The Ramsey Show
Building Wealth Happens One Baby Step at a Time
All right, so now that's what we need to address, because when you started this call, you already knew what's reasonable and what's right. And what is real. I can't afford it, right? You can't, but... What's also real, John, is that Jack can be manipulated into, and I could too, into credit cards and all the other things to just get through this. And you know what?
The Ramsey Show
Building Wealth Happens One Baby Step at a Time
Yeah, but back to John's question. Is there a specific cause, something that has spurred this on, where you want to give? You're wondering about it?
The Ramsey Show
Building Wealth Happens One Baby Step at a Time
I'd rather deal with the financial pain than the emotional pain of disappointing my kid. I think that's where he sits. Am I right, Jack?
The Ramsey Show
Building Wealth Happens One Baby Step at a Time
That's what I agree. I agree. That's the tack, Jack. You got to go directly to your daughter. She's 16. I agree.
The Ramsey Show
Building Wealth Happens One Baby Step at a Time
What did you, what did you do, Jack? And how much did you make versus how much you make now?
The Ramsey Show
Building Wealth Happens One Baby Step at a Time
I think there's two things. I get that. But I think there's two things. And, again, I'm – and, John, you weigh in on this. But, Jack, I'm going to talk to you as if I was in your situation. And I think that, number one, I agree with Doc here that you're sitting down with your daughter and you're explaining reality. And you give her a lot of why. Here's why I've cut back.
The Ramsey Show
Building Wealth Happens One Baby Step at a Time
If you want to go to that, I got a different thought on that one, but you can explain all that. Explain, I don't want to go into debt. Here's why. Explain all of that. Be really honest, really humble, not defensive, but explain the situation. Whether or not she gets it in the form of agrees with it or not. Doesn't matter. Does not matter.
The Ramsey Show
Building Wealth Happens One Baby Step at a Time
But I think you've got to go one-to-one with the daughter and do your best to, and I don't want to say this, I don't want to mean controlling, but the narrative needs to be between you and your daughter. That's the first thing I do. The second thing I do, interestingly enough that you said, I used to make 90, now I make 40.
The Ramsey Show
Building Wealth Happens One Baby Step at a Time
I'd be working a little bit more, and I would be doing what I could to cash flow. I'll come up with $3,000 for braces. I'll tell you what I'll commit to. Whatever she earns towards her car, I'll match it. I'll match it. Up to $5,000 or whatever number. Now we've got girls' skin in the game, moms' skin in the game, your skin in the game.
The Ramsey Show
Building Wealth Happens One Baby Step at a Time
I think for this season, I'd be pulling some more hours and leveraging my past experience more. to meet this situation in the middle. No debt, no manipulation and pressure from daughter or ex-wife. However, I can bring more to the table, and out of a good gesture, I'm going to do that. I think I would try to do that. John, is that unhealthy?
The Ramsey Show
Building Wealth Happens One Baby Step at a Time
Jack, you're a good man, and I'm going to tell you, I think you're a good dad. So believe that, act that way, hold the line. I'm not doing anything that hurts you financially. This is The Ramsey Show.
The Ramsey Show
Building Wealth Happens One Baby Step at a Time
Welcome back to The Ramsey Show. Alongside Dr. John Deloney, I'm Ken Coleman. So excited that you're with us, 888-825-5225. Our Ramsey Network app question is from Darren. He writes in, my wife and I are 50, debt-free, and have a net worth of close to $5 million. I retired last year, and it's allowed me to lean into many fun hobbies. That said...
The Ramsey Show
Building Wealth Happens One Baby Step at a Time
I feel guilty that I'm not working, even though we don't need the money. I'm embarrassed when people ask what I do for a living. Did I retire too early? Or should I just ignore societal norms and enjoy the fruits of a lifetime of hard work? I'm going to go yes and yes, John.
The Ramsey Show
Building Wealth Happens One Baby Step at a Time
A little bit controversial, maybe. And what I mean by yes is did he retire too early? Yes.
The Ramsey Show
Building Wealth Happens One Baby Step at a Time
And should he ignore societal norms and enjoy the fruits? Yes.
The Ramsey Show
Building Wealth Happens One Baby Step at a Time
Now, I'll explain the first part of that.
The Ramsey Show
Building Wealth Happens One Baby Step at a Time
Yeah. I don't think retirement is good for us. No, I'm sorry. Let me go back. I know it's not good for us, and that's not my opinion. That is based on— All the data. You know about all the data. You and I are both data nerds, and the data says it's just not good for us physically, mentally, spiritually, the whole nine yards.
The Ramsey Show
Building Wealth Happens One Baby Step at a Time
Which is what he's doing, fun hobbies, which is great. I would say that, and this is my goal, and by the way, this is a very unpopular opinion. I was on Graham Stephan's show, and they asked me about retirement. And I said, it's overrated, and I'm not going to ever retire.
The Ramsey Show
Building Wealth Happens One Baby Step at a Time
I will slow down. Yes. I will diversify, but I will be doing something that looks, sounds, smells suspiciously like work until God takes me home. And that's because, A, I believe it's what's best for us. Now, again, downshifting. So all I would say here is, Darren, hey, man, keep doing the hobbies, but find something. Even if, by the way, here's what's interesting.
The Ramsey Show
Building Wealth Happens One Baby Step at a Time
I would say, John, that volunteerism... is in the category of not retiring. In other words, he may not have to collect a check, but let's say he's going in and let's say he used to run a sawmill, random thing, that's what came to my head.
The Ramsey Show
Building Wealth Happens One Baby Step at a Time
If he just goes in, he starts consulting with a couple young guys that are in the wood business or whatever, and he tells them what he knows, and he does it one day a week. It's about purpose and providing value. That's the idea. That's it. So one can volunteer. And by the way, volunteers work. Exactly.
The Ramsey Show
Building Wealth Happens One Baby Step at a Time
So that's my little spiel, and I'll leave it at that and let you jump in on the second part of that.
The Ramsey Show
Building Wealth Happens One Baby Step at a Time
Yes. I'm 50. That'd be amazing. I think I'm young. Exactly. I know I'm delusional. But I still go, I mean, now again, I wouldn't stop today.
The Ramsey Show
Building Wealth Happens One Baby Step at a Time
Yeah. That's a good point. Neither one of us like meetings. But I don't think there is. I think the societal norm is that everybody wants to be where he's at. He's in the one half of 1% of all people who do walk at 50. Right. Or maybe smaller percentage than that. So what is, what do you think?
The Ramsey Show
Building Wealth Happens One Baby Step at a Time
And again, I'm putting you on the spot, but real quick, we'll get to a call, but I would love to know 30 seconds on what do you think is the source of that feeling he gives us in the last sentence that he thinks people are going? Dude, you're 50 and you're not working?
The Ramsey Show
Building Wealth Happens One Baby Step at a Time
Yeah. I love it. Let's see if we can get Will in here in Phoenix, Arizona. Will, how can we help?
The Ramsey Show
Building Wealth Happens One Baby Step at a Time
You bet. We got about two and a half minutes and I'm sorry to do that to you, but see if you can get us your quick question and see if we can help.
The Ramsey Show
Building Wealth Happens One Baby Step at a Time
I wouldn't take the money out of my retirement to do that. I'd work a little bit longer and pay it off quick. You know, you're, and again, you could still retire from corporate world. Uh, and I think you can still accomplish what I'm suggesting.
The Ramsey Show
Building Wealth Happens One Baby Step at a Time
I knew it, Will. I feel you, dog. I saw it coming like a freight train. I knew it was the wife.
The Ramsey Show
Building Wealth Happens One Baby Step at a Time
So if that's going to be the case, John, I really don't want him pulling out of the retirement fund. I want that money staying, Will. And again, you have the income and the experience to, if you've got to do a mortgage on $100,000, that's such a small amount, and pay it off quick. If you can't convince the wife.
The Ramsey Show
Building Wealth Happens One Baby Step at a Time
Oh, you're talking about investing in your retirement account.
The Ramsey Show
Building Wealth Happens One Baby Step at a Time
I'd tell her she's got to work a little bit longer.
The Ramsey Show
Building Wealth Happens One Baby Step at a Time
I agree. Just a joke, Will. You're on your own, pal. This is The Ramsey Show.
The Ramsey Show
Building Wealth Happens One Baby Step at a Time
Welcome to the Ramsey Show, where we help you win with your money, win in your profession, and win in your relationships. Alongside Dr. John Deloney, I'm Ken Coleman. The phone number to jump in today is 888-825-5225. 888-825-5225. Let's get it started with Zach in Lexington, Kentucky. Zach, how can we help today?
The Ramsey Show
Building Wealth Happens One Baby Step at a Time
Okay. Tell us a little bit more. What's the debt?
The Ramsey Show
Building Wealth Happens One Baby Step at a Time
All right, let's list them out for us. So go smallest to largest, the biggest debt down to the smallest. Start with the biggest debt.
The Ramsey Show
Building Wealth Happens One Baby Step at a Time
We'll leave the house out right now because we want to work on that other debt. So keep going.
The Ramsey Show
Building Wealth Happens One Baby Step at a Time
And what is your combined income? Do you have two incomes or one? Two, me and my wife. So what's your combined income?
The Ramsey Show
Building Wealth Happens One Baby Step at a Time
All right. What's the truck worth right now if you were to sell it, private sale, not to a dealer? What's the truck worth?
The Ramsey Show
Building Wealth Happens One Baby Step at a Time
That's great news. Okay. And how much is the $3,000 car? How much is that worth? About $6,000. Okay. All right. So that's everything you got, correct? That's everything. Do you have any cash outside of your checking account at all? What kind of cash do you have?
The Ramsey Show
Building Wealth Happens One Baby Step at a Time
All right. So you guys are struggling just to make it to the end of the month. Yeah, majorly. All right. So what is your question today? Are you struggling with budgeting, or is it a bigger issue where you guys aren't on the same page about money? I'd like to see more income, but what do you think is the big cause of this? Is it a lack of budgeting, or is it you guys are on two different pages?
The Ramsey Show
Building Wealth Happens One Baby Step at a Time
One's trying, the other's spending like crazy. Give us a little bit more.
The Ramsey Show
Building Wealth Happens One Baby Step at a Time
Okay, all right. What is the mortgage? You don't have a very big mortgage. What's your mortgage payment?
The Ramsey Show
Building Wealth Happens One Baby Step at a Time
Okay, well, that is a huge chunk of your take-home.
The Ramsey Show
Building Wealth Happens One Baby Step at a Time
Yeah, I agree. What's your truck payment?
The Ramsey Show
Building Wealth Happens One Baby Step at a Time
And the reason I'm going to start there is because that's a $300 a month raise, which is a massive deal for you. And you've got equity in that. And I would sell it. If you can sell that for $25, you owe $12. That's going to leave you $13. I would go buy a $5,000 truck because I can find them all day long online and have done it before.
The Ramsey Show
Building Wealth Happens One Baby Step at a Time
And then I'm going to take that $8,000 and I'm going to knock out your wife's car payment. I still got $5,000 left over. I'm taking out the $2,000 student loan. What do I got left? I'm trying to run this in my head.
The Ramsey Show
Building Wealth Happens One Baby Step at a Time
But I think he can get rid of it all. If I did the math right, I think you pay your entire debt off with the proceeds from the truck. Brother, that's massive. What is your car payment on the wife's car? $180. Okay, so that's $480, all right? And we should start going down the list.
The Ramsey Show
Building Wealth Happens One Baby Step at a Time
Massive. $500 a month. Now I'm going to say one other thing. You, my friend, your wife's pregnant, so I'll let her off the hook, although I'd like to see her pick up some hours, pick up 15 to 20 hours a week at Walmart working evenings while the baby's in the oven. But you definitely need to be picking up another 20 to 30 hours a week to actually get this emergency fund built up.
The Ramsey Show
Building Wealth Happens One Baby Step at a Time
Because you can be debt-free and start stacking in the emergency fund really quickly. But this is all effort. I'm going to sell my truck, pay off all the debt, stick the rest in savings, and my wife and I are going to work like we got no tomorrow in order to stack up five, six, seven grand All this is doable. Am I right, John?
The Ramsey Show
Building Wealth Happens One Baby Step at a Time
Listen, my man, we live in a world, Adam, excuse me, Zach, that would tell you, well, you take off time. No, you're not.
The Ramsey Show
Building Wealth Happens One Baby Step at a Time
You can't afford to take time off with your wife. You've got to be working crazy hours.
The Ramsey Show
Building Wealth Happens One Baby Step at a Time
And let's also call Churchill, like you said.
The Ramsey Show
Building Wealth Happens One Baby Step at a Time
Good man. But let's go get the best hourly rate we can right now. I don't care what it is.
The Ramsey Show
Building Wealth Happens One Baby Step at a Time
I'd like to see you be looking at the trades, Zach. I really would. I want you to get through baby and get a nice emergency fund, but I'd like you to start thinking about the trades. You're talking about a plumber, electrician. That down the road, if that's something that you're interested in, I want to push you into that.
The Ramsey Show
Building Wealth Happens One Baby Step at a Time
But the type of work you do, I think it would be a nice transition, and we're talking about a much better situation when it relates to hourly rate plus benefits plus a nice ladder forward. But listen, Zach, we just gave you – I mean, this is easy compared to calls that we get. Selling that truck changes your life.
The Ramsey Show
Building Wealth Happens One Baby Step at a Time
You guys will be fine. You got a small mortgage. Let's see if we can get you a better rate on that. But just doing what we said is selling the truck is going to make the margin there.
The Ramsey Show
Building Wealth Happens One Baby Step at a Time
Get after it, my man. There's no sitting around waiting anymore. You got to move. This is the Ramsey Show.
The Ramsey Show
Building Wealth Happens One Baby Step at a Time
Yeah. Corey, did I hear you say you guys are investing 35%? Yes. Yeah. You know, look, here's what Dave has taught for years. And, of course, we sing that chorus as well. What we teach is in the baby steps. Are you familiar with the baby steps? I'm assuming you are.
The Ramsey Show
Building Wealth Happens One Baby Step at a Time
Welcome back to The Ramsey Show. Alongside Dr. John Deloney, I'm Ken Coleman. Glad you are with us today. 888-825-5225 is the phone number we'd love to hear from you. Let's go to Orlando, Florida, where Adam is joining us. Adam, how can we help today?
The Ramsey Show
Building Wealth Happens One Baby Step at a Time
I thought we just covered this. You can't. And John said, let it go.
The Ramsey Show
Building Wealth Happens One Baby Step at a Time
Is the issue you, which we would understand that. You've got to get over that. But I understand you feeling that. Or is it her? Is she putting pressure on you? I mean, what's the reason for this call? What can we help you with?
The Ramsey Show
Building Wealth Happens One Baby Step at a Time
Hold on. So are you actually engaged? Because you started off the call saying, I'm going to get married in about a year and a half. Is there a ring? Well, there's not a ring. Are there animals going back and forth with the arrangements? Are you with many goats?
The Ramsey Show
Building Wealth Happens One Baby Step at a Time
Well, who hit it off? You and the dad or you and this girl? Me and the dad, I've never really talked to him. That's what I thought. I thought I heard you say, me and pops hit it off, and I think I might marry his daughter.
The Ramsey Show
Building Wealth Happens One Baby Step at a Time
So you get to do whatever you want, but we've prescribed for 15%. And you guys are in great shape. So you could say, we're going to go back to that and we're going to invest 15% and we're not going to stop. When John and I said yes and, that's that. Now, if you want to do more than that, you can. but that's the rule of thumb and you're in great shape.
The Ramsey Show
Building Wealth Happens One Baby Step at a Time
I think that's probably the better word. I think that's what it is. I think that's actually the right word. Let me ask you this. Where are you at on this deal? Do you want to do this? I don't care how cool Pops is or not.
The Ramsey Show
Building Wealth Happens One Baby Step at a Time
um well i mean she's pretty she's really pretty no no bro you're not answering my question and i think i know the answer do you want to marry this girl or not i think i think i do no you don't no you don't even know her you want to please your mom is what you want to do you want to make your mom happy because she insists that you marry this wealthy moroccan girl
The Ramsey Show
Building Wealth Happens One Baby Step at a Time
Nothing crazy, nothing like... Bro, I'm not marrying somebody that I talk to here and there. That's an acquaintance. What are you doing?
The Ramsey Show
Building Wealth Happens One Baby Step at a Time
In all honesty, why did you call us?
The Ramsey Show
Building Wealth Happens One Baby Step at a Time
Because John and I want to help you, but we've already told you how we feel.
The Ramsey Show
Building Wealth Happens One Baby Step at a Time
I feel like we're on a hamster wheel.
The Ramsey Show
Building Wealth Happens One Baby Step at a Time
So you called us saying, guys, I don't know what to do. I don't think I can provide for her. It doesn't matter. She chose you and Pops chose you, it sounds like, or the two of them got together and said, this is my guy, and you're just going to go along with it. So, therefore, it doesn't matter if she's disappointed. It's got to be the greatest get-out-of-jail-husband card of all time.
The Ramsey Show
Building Wealth Happens One Baby Step at a Time
So at which point you now go, okay, if I'm going to invest 15% or 35%, then whatever's left over, how much of my income am I going to set aside for continuous giving? So John's right. You can give where you are, however you're moving throughout the day, you find opportunities to give. But for strategic giving, Then I would put a budget number on it.
The Ramsey Show
Building Wealth Happens One Baby Step at a Time
I would tell pops to get you a good job. That's what I would do. What are you worried about? Why are we even going to school? I mean, this guy's wealthy and he selected you. The whole thing is foreign to me, Adam, and we're having a little bit of fun with it because, quite frankly, it's so absurd I can only laugh with it.
The Ramsey Show
Building Wealth Happens One Baby Step at a Time
And what is absurd is I'm not insulting other – I probably already have, but we'll get over it. The absurdity is your attitude towards it. I'm not going to judge another culture and arrange marriages.
The Ramsey Show
Building Wealth Happens One Baby Step at a Time
What culture do you come from? Are you an American family?
The Ramsey Show
Building Wealth Happens One Baby Step at a Time
This is a generational thing for your parents. This is a very normal thing for them to arrange or insist. Yeah.
The Ramsey Show
Building Wealth Happens One Baby Step at a Time
Yeah, it's what I'm getting at. So I don't understand it, but I'm not knocking the tradition because I don't understand it, and I want to be very clear to our large audience on that. What I'm saying absurd is your response to this, because I feel like you've got an option to go, deuces, I'm out, or... I kind of think I'm going to do it, and yet you called us to go, what do I do?
The Ramsey Show
Building Wealth Happens One Baby Step at a Time
I'm pleading with you, and I mean this. I hope you remember my voice multiple times tonight before you go to bed. Please don't do this. John, am I right? You can hear it all over him.
The Ramsey Show
Building Wealth Happens One Baby Step at a Time
This is awful, but I'm going to be real.
The Ramsey Show
Building Wealth Happens One Baby Step at a Time
If I was in Adam's situation and the father approached me and we're hanging out and we're bros, and he goes, hey, by the way, my daughter over there, that's my fourth one, would you like to marry her? She thinks you're cute. I'd go, let's talk terms.
The Ramsey Show
Building Wealth Happens One Baby Step at a Time
That's true. But, I mean, if we're going to do all this, let's go, all right, what's the job? Do we got a slush fund? This is wackadoodle. I don't know how else to process that. Oh, Adam. He needs to fall in love with somebody quick. Hey, send us a wedding invite. Me and Kim may show up.
The Ramsey Show
Building Wealth Happens One Baby Step at a Time
And so let's say you said we're going to do for sake of discussion. Let's say you're going to go back to investing 15 percent. And that's the continuing build. But then you go, OK, we're going to then we're going to take that 35 we've been investing. We're going to invest 15 and we take 20 percent of our income. And that is now our giving fund.
The Ramsey Show
Building Wealth Happens One Baby Step at a Time
Welcome back to the Ramsey show. Thrilled to have you with us. I'm Ken Coleman. Dr. John Deloney joins me and the phone number for you to jump in is 888-825-5225. That's 888-825-5225. Okay, folks, a little bit of a mild roller coaster going on in real estate right now. That's just the reality.
The Ramsey Show
Building Wealth Happens One Baby Step at a Time
You know, a lot of experts are saying we're going to stay in this interest rate range for most of this year. Who knows? They don't know. We don't know. Uh, But the reality is, is for years we've said marry the home, date the rate. And so whether you're buying a home or selling a home, this is a massive, massive decision and transaction.
The Ramsey Show
Building Wealth Happens One Baby Step at a Time
And it's why you need the tools and resources to get you prepared. And so that's why we have the Ramsey Real Estate Home Base. fabulous location for you. You're going to see calculators, start-to-finish guides, how-tos, a podcast, books, and even a video course, all giving you actionable steps so that you can navigate the buying and selling process without any massive errors, and it's painless.
The Ramsey Show
Building Wealth Happens One Baby Step at a Time
RamseySolutions.com slash real estate, RamseySolutions.com slash real estate, or you can click the link in the show notes if you're listening on YouTube and podcasts. And I want to point out,
The Ramsey Show
Building Wealth Happens One Baby Step at a Time
And I'm Ken Coleman, and so we are here for you today. So no money personalities, but we know the basics, and we're going to help you out. We're going to get behind some of this stuff. So excited to have you with us. Corey's going to start us off, John, in Detroit, Michigan. Corey, how can we help today?
The Ramsey Show
Building Wealth Happens One Baby Step at a Time
When we tell you about all these things, and if you miss it because we know you're listening to us and watching us while you've got other things going on, the show notes, the show notes, the show notes, all of the links, things we talk about, are in the show notes of the podcast app that you're listening to and on YouTube. All right? And RamseySolutions.com, you can usually find it.
The Ramsey Show
Building Wealth Happens One Baby Step at a Time
And to John's point, if you feel generous and you want to leave a $500 tip, that comes out of that number. If you want to invest in a nonprofit, a mission organization, your church, some type of charity, I would find a cause that's near and dear to both you and your wife and something that has a story attached to it that connects to you all's story. I think that's a great way to do it.
The Ramsey Show
Building Wealth Happens One Baby Step at a Time
All right, let's go back to the phones. Vanessa is joining us now in Phoenix, Arizona. Vanessa, how can we help?
The Ramsey Show
Building Wealth Happens One Baby Step at a Time
No, of course not. You know that, don't you?
The Ramsey Show
Building Wealth Happens One Baby Step at a Time
God bless them. They don't know as much about real estate as you do. True or false?
The Ramsey Show
Building Wealth Happens One Baby Step at a Time
Never mind. Okay. Bad tack. Let's go this. Okay. Let's go by the numbers. Can we do the numbers? Okay. All right.
The Ramsey Show
Building Wealth Happens One Baby Step at a Time
Let's say I want you to give me these numbers. Super simple. You sell both rentals. Okay. How much money do you walk with cash?
The Ramsey Show
Building Wealth Happens One Baby Step at a Time
Okay, I didn't ask that. And I want you to keep this simple because I'm trying to help you, but you're confusing me in your answer. You sounded like a congressman on a Sunday morning show there. So direct question. Stay with me. I'm trying to help you, okay? Okay. First of all, you need to get a great real estate pro, okay? Somebody who can give you real comps. Real numbers. Real comps.
The Ramsey Show
Building Wealth Happens One Baby Step at a Time
But I want you to be modest, okay? You own two homes. What do you think you walk away with on a modest sale price of both rentals? Give me a modest ballpark figure. You've thought through this, haven't you?
The Ramsey Show
Building Wealth Happens One Baby Step at a Time
Okay, so you're going to have $500 minus $238 is what? $272 left?
The Ramsey Show
Building Wealth Happens One Baby Step at a Time
Am I doing my math right? I'm doing it quick. I was a history guy. So $272,000. That's after we paid our house off. Now, what is it going to cost you to build this property, this next Airbnb property, on your actual house now that you have a paid-for home as your main living? What's it going to cost to do that?
The Ramsey Show
Building Wealth Happens One Baby Step at a Time
But you get to decide. But I would just start immediately doing it. And you've got the margin. And so now if you're investing 15% and you are giving 20% or whatever ratio you want to do there, I would start right away.
The Ramsey Show
Building Wealth Happens One Baby Step at a Time
So if I'm hearing you right, And I'm going to round down. We've got $30,000 cash left over. We have no debt at all on any properties. My home that I'm living in is paid off. And I've got an actual rental property that is going to spit off cash in perpetuity that it's paid for. Yes. Versus being $238,000 in debt on your main home and how much in debt on each of the rental homes.
The Ramsey Show
Building Wealth Happens One Baby Step at a Time
So what do you like better? When I just ask you those numbers, what future do you like better?
The Ramsey Show
Building Wealth Happens One Baby Step at a Time
Great. So I'm going to hand you over to my friend who's really smart with emotions and mental stuff. And John, now that I've just pulled out what she would prefer to do, which interestingly enough lines up with what we would tell her to do, what about these people in her life that know so much about lumber?
The Ramsey Show
Building Wealth Happens One Baby Step at a Time
Hey, Vanessa and John, do you both remember the classic Miller Lite ads where it was like, when we grew up, it was like, great taste, and then the other half of the bar would yell, it's less filling, and it was a debate? Here's what's going on, Vanessa. Here's what I'm hearing. You're saying... My life is better. And they're going, better interest rate. Yes. And it's this goofy, weird, what?
The Ramsey Show
Building Wealth Happens One Baby Step at a Time
It's a dumb thing. You're going, my life is better. And they're yelling, but you got a better interest rate.
The Ramsey Show
Building Wealth Happens One Baby Step at a Time
It's the goofiest thing I've ever heard.
The Ramsey Show
Building Wealth Happens One Baby Step at a Time
Again, we're not genie in a bottle, so I'm not going to answer that. I like John's answer. You get to decide, Corey. I'm not turning to page five in the Ramsey manual right now to answer that question because that is so individual to you. We're not being coy.
The Ramsey Show
Building Wealth Happens One Baby Step at a Time
You got it right, Vanessa. Do your plan, not theirs. This is The Ramsey Show.
The Ramsey Show
Building Wealth Happens One Baby Step at a Time
Welcome back to The Ramsey Show. I'm Ken Coleman. Dr. John Deloney joins me this hour. We are thrilled to have you with us. 888-825-5225. That's the number to jump in. Today's question of the day is brought to you by WhyRefi. Now, we don't recommend refinancing on everything, but for distressed private student loans, there is WhyRefi.
The Ramsey Show
Building Wealth Happens One Baby Step at a Time
We trust WhyRefi because they can help you with a low fixed interest rate. that you can't get anywhere else to help you stick to your budget and get out of debt. Learn more at yrefi.com slash Ramsey. That's the letter Y-R-E-F-Y dot com slash Ramsey. It may not be available in all states.
The Ramsey Show
Building Wealth Happens One Baby Step at a Time
You do what you want to do. But my only advice on that is, John, and you weigh in on this, if I was in your position, Corey— I would be giving a substantial chunk consistently to something that I deeply connected to.
The Ramsey Show
Building Wealth Happens One Baby Step at a Time
A lot of questions for you there, Doc. Well, I mean – A lot of emotional questions. I mean, I would just say on the dream home is I would – if you can get out of it, get out of it. Yeah. And then start to dig out of the situation from the business because this is – there's a lot of stress right now.
The Ramsey Show
Building Wealth Happens One Baby Step at a Time
And there are times when that happens.
The Ramsey Show
Building Wealth Happens One Baby Step at a Time
I agree. And to your point, the only thing I'd say on that is if she doesn't feel safe financially, which this circumstance would absolutely do that to anybody, then what you've got to do is I'm going to take shame Whatever shame there is, and it shouldn't be, but I understand that's a natural emotion.
The Ramsey Show
Building Wealth Happens One Baby Step at a Time
But I'm going to go ahead and take shame over feeling unsafe, meaning I'm going to get out of these problems. Oh, heck yeah. I'm going to go back away slowly.
The Ramsey Show
Building Wealth Happens One Baby Step at a Time
I'm going to do what we need to do so that I feel like that my financial world isn't crumbling. And then once I get there, that's going to do wonders for dealing with the shame.
The Ramsey Show
Building Wealth Happens One Baby Step at a Time
That's right. But it's really hard to deal with all that at the same time.
The Ramsey Show
Building Wealth Happens One Baby Step at a Time
And you know what? I want to throw this out there, John. I know you're going to agree with it, but it just popped in my head. We need to say that if we are very wise and intentional in who we choose to be our friends— Those are the people you need to go talk to about. Not need. You have to. Instead of shame, you can enter with shame, but real friends will go, hey, don't worry about it.
The Ramsey Show
Building Wealth Happens One Baby Step at a Time
I would leave it at that. You get to fill in what deeply connected to looks like.
The Ramsey Show
Building Wealth Happens One Baby Step at a Time
They're not going to leave you. No. They're going to actually make you feel good and, dare I say, safe.
The Ramsey Show
Building Wealth Happens One Baby Step at a Time
I'm going to tell you, and I mean that with everything in my being, Stacey and I have always been intentional, but I'm telling you, we've got friends like that around us right now that I'm just telling you, It's everything. You just have to have the people that no matter what's going on, you can snot in front of them and cry an ugly cry or be weak or doubtful or insecure or whatever.
The Ramsey Show
Building Wealth Happens One Baby Step at a Time
And they just come around you and they lift you. And it is so important. So I just saw I heard that. I was like, you know what?
The Ramsey Show
Building Wealth Happens One Baby Step at a Time
Yeah, so basically what that means is like once you get out of baby step three, okay, and you've got that three to six emergency fund, three to six months, then you begin to take the budget. We reorder the budget, right? And so we take 15% of take home and we invest that, and that is for retirement. And so you begin to make that happen. Now you start working the rest of the budget, right?
The Ramsey Show
Building Wealth Happens One Baby Step at a Time
And so now we go, okay, we're going to put some, we're going to put what we can away for baby step five, right? And so you may have enough income where you can do all at the same time, but you may not have enough income to be able to do that. And so you may be in four and five for a while. Does that make sense?
The Ramsey Show
Building Wealth Happens One Baby Step at a Time
Yeah, because it's not about before. It just becomes the thing. It's now, this is the next thing we do. It's like budgeting, right? So once we get through baby step three, the automatic is every time we get a paycheck, we're putting our money away for retirement. So it's just in perpetuity. Does that make sense?
The Ramsey Show
Building Wealth Happens One Baby Step at a Time
Yeah, that's a really good call, actually. You know, because we have a lot of people that join us all the time, John, and so do you want to talk about the momentum behind that and why Dave, over the years, developed that so it feels, and there are times where you can do four, five, and six all at the same time, but that's a function of margin.
The Ramsey Show
Building Wealth Happens One Baby Step at a Time
It really is. And we say, we use this phrase a lot, and it can sound cliche, and I don't want it to be cliche today, but we talk about we're moving now out of Baby Step 3, and we've been super, super intense. And now we want to downshift, if you will, to intentionality.
The Ramsey Show
Building Wealth Happens One Baby Step at a Time
So from intensity to intentionality.
The Ramsey Show
Building Wealth Happens One Baby Step at a Time
good stuff a good hour dr john deloney want to thank james childs and our amazing crew behind the glass to keep us on the air and you america for listening this is the ramsey show The right questions are the key to unlock personal and professional potential. That means if you're not where you want to be, you are not asking the right questions.
The Ramsey Show
Building Wealth Happens One Baby Step at a Time
I'm Ken Coleman, and this is what my new show, Front Row Seat, is all about. Over my career, I've had the distinct privilege to interview successful people from all walks of life and to coach over 10,000 professionals who wanted more. What sets successful people apart is a never ending desire to learn and grow.
The Ramsey Show
Building Wealth Happens One Baby Step at a Time
Each week, I'll be joined by industry leaders and world class experts to have a conversation about how to get better, move up and lead well in work and life. But the best part of this show is you get to be a part of the conversation. Live in studio, we'll have a group of professionals just like you who have the power to ask questions and steer the discussion in real time.
The Ramsey Show
Building Wealth Happens One Baby Step at a Time
I love that your brain went to a special customized gargoyle. There's a lot to unpack there on the commercial break. It tells me so much that I love about you. Hey, we have something special coming back. Big news.
The Ramsey Show
Building Wealth Happens One Baby Step at a Time
It's an opportunity to get real answers to real questions. like how to make the right decisions, have hard conversations, live a balanced life, and discover your next steps to growth. Join us every Tuesday for conversations that are guaranteed to surprise, challenge, and inspire you. Check out Front Row Seat wherever you get your podcasts.
The Ramsey Show
Building Wealth Happens One Baby Step at a Time
Welcome back, America. Thrilled to have you with us here on The Ramsey Show alongside Dr. John Deloney. I'm Ken Coleman, and we're here for you. The phone number, by the way, to jump in is 888-825-5225. That's 888-825-5225. All right, Ken, I've got to jump in. You're jumping in.
The Ramsey Show
Building Wealth Happens One Baby Step at a Time
So... So if you're old enough to know the show Inside the Actor's Studio. Legend. If you remember that, we're a famed movie television and producer, professor. James Lipton would interview the best of the best of actors, directors, producers, and he would do it in front of a classroom in a theater, but a true classroom.
The Ramsey Show
Building Wealth Happens One Baby Step at a Time
And then the students themselves would get a chance to jump in and ask questions. That's the concept of front row seats, why we call it front row seat. because we will be doing this in front of a live audience surrounding a very small, intimate audience surrounding me and the guest. And then we'll do virtual audiences.
The Ramsey Show
Building Wealth Happens One Baby Step at a Time
And so where you can sit in almost on a group Zoom with somebody that you would never get the opportunity to talk to, but you don't just listen. and learn, you actually get to ask questions. That's why we call it Front Row Seat. And we're focused on three things. We want people to get better personally. Think of all the areas of your personal life. You think about your relational life.
The Ramsey Show
Building Wealth Happens One Baby Step at a Time
Tell us about this wealth. We know we're going to be wealthy. Give us a picture of what's going on and when it happens.
The Ramsey Show
Building Wealth Happens One Baby Step at a Time
It's where you're focused on helping people. You think of your physical life, your mental and emotional life. We bring whatever version we have to work. And so we want people to get better.
The Ramsey Show
Building Wealth Happens One Baby Step at a Time
So bringing in people that are experts in all of those areas, deep dive, how can we get better so that we can go to work and we have the best opportunity to do our best work and move up, whatever move up looks like. And then ultimately, as you move up in America, you get thrown into leadership positions that you're largely not trained for. So some leadership 101 stuff. So you're thinking about
The Ramsey Show
Building Wealth Happens One Baby Step at a Time
You know, personal growth topics, growth development topics at work, and then Leadership 101 stuff from some of the best voices in the world. Our debut episode out today, former governor, first female governor of South Carolina, Nikki Haley. Now, if you're on the Trump side of things, you're going to have to get over it because it's not a political interview.
The Ramsey Show
Building Wealth Happens One Baby Step at a Time
This is a leadership interview. And I'm going to be sitting with people that are left.
The Ramsey Show
Building Wealth Happens One Baby Step at a Time
Right? Middle? Don't even want to talk about it? Because this conversation is designed to make us think, to make us feel, and to make us do. And that's what we're doing with the show, and I'm really excited. That's my roots, by the way.
The Ramsey Show
Building Wealth Happens One Baby Step at a Time
Yeah. And I've had the opportunity to do a lot of coaching here on the Ken Coleman show, but this is a natural evolution of what I've always wanted to do. And I think that, you know, I always tell people that, So do what your heart tells you to do. Follow your heart, Dave, and the leadership. This is a show that I've wanted to do for a very long time, and so we're doing it.
The Ramsey Show
Building Wealth Happens One Baby Step at a Time
And it's designed to, again, bring in a large audience. If you listen to this show for money issues, you're going to love this show. And so the audience themselves brings in a representation. That live audience represents the people listening and watching. So I would say this, and we'll move on to the calls. You can get it on YouTube. Podcast app, the Ramsey Network app.
The Ramsey Show
Building Wealth Happens One Baby Step at a Time
All you got to search is Front Row Seat, Ken Coleman, and it'll come up, and it's live now. And I will say this. This interview with Nikki Haley, a deep dive on her past as a child, an immigrant who dealt with bullying because of her race, a woman who broke a barrier. Mm-hmm. and then stood up for one of the biggest issues that divides us racially. I mean, this is a woman of great substance.
The Ramsey Show
Building Wealth Happens One Baby Step at a Time
Whether you like her or not, I think you'll learn something from this interview. That's all I'd say on that.
The Ramsey Show
Building Wealth Happens One Baby Step at a Time
That's my favorite part is allowing people to get a chance to speak up and ask a question.
The Ramsey Show
Building Wealth Happens One Baby Step at a Time
Thank you, bro. I love it. I love it, man. There it is. Front row seat now available from Ramsey Solutions. You can get it wherever you get your podcasts and on YouTube. All right, to the phones we go. Sarah is joining us in Charlotte, North Carolina. Sarah, how can we help today?
The Ramsey Show
Building Wealth Happens One Baby Step at a Time
How old are they, and have you done any investing so far?
The Ramsey Show
Building Wealth Happens One Baby Step at a Time
$6,700. Good. So if you were just to look, if you get on RamseySolutions.com after this call and pull up our investment calculator, punch those numbers in. And it'd be a real fun exercise for you to see, okay, add 18 based on those two amounts and put in a modest return, nothing crazy. Then you're going to see where that number is going to add up to. But I think, John, I like her question.
The Ramsey Show
Building Wealth Happens One Baby Step at a Time
You know, There's no magic answer, but you get to about $100,000. I'm curious, if I were you and I'm thinking what education may or may not look like 15 years from now.
The Ramsey Show
How The Baby Steps Protect You From Financial Uncertainty
Yeah, that's what happens when you trust a politician with an empty promise that's not constitutional.
The Ramsey Show
How The Baby Steps Protect You From Financial Uncertainty
So how does it feel? I want people who are maybe new to this program going, they paid their house off. That was the debt. What does it feel like to not have a house payment now and then as you look toward the future?
The Ramsey Show
How The Baby Steps Protect You From Financial Uncertainty
It's a very nice move. So what was the increase in your pay? Because we looked at the total. You guys went from 60 to 145. How much did you increase?
The Ramsey Show
How The Baby Steps Protect You From Financial Uncertainty
And then Shiloh, you and your husband need to be aware, because every union is different, but one of the major potential strikes that's coming down the pike is UPS right now. And in that particular, this is one of the largest unions, the largest union in the country.
The Ramsey Show
How The Baby Steps Protect You From Financial Uncertainty
Okay, so I actually know a little bit about this story.
The Ramsey Show
How The Baby Steps Protect You From Financial Uncertainty
Well, no, no. Actually, Dave is still right. What we want to do is that has been reported that the union is saying, and this is posturing as well, but your husband's got to know how much am I going to get paid during this strike and for how long because these unions have money set aside for strikes, Dave. Okay. But it's not forever and ever and ever.
The Ramsey Show
How The Baby Steps Protect You From Financial Uncertainty
And so what you have to look at is you have to get the numbers. We could survive. I'll continue to get paid for three months if the strike goes beyond. So these are the kind of facts that Dave is talking about. He's right. We pay attention to this and we go, okay, I know that for three months.
The Ramsey Show
How The Baby Steps Protect You From Financial Uncertainty
That's right, and it'll never happen. But the point is, is the unions have enough money in a pool. Your husband needs to find out, how long would I get paid for? And see, this is the point that Dave is making. So we could survive, we pay off the debt, and we replenish that emergency fund, even in a one-month strike. Because I don't think it goes longer than 30 days. I don't think it ever happens.
The Ramsey Show
How The Baby Steps Protect You From Financial Uncertainty
These are the facts that you're talking about, Dave. So you've got to know.
The Ramsey Show
How The Baby Steps Protect You From Financial Uncertainty
It's not going to last a long time.
The Ramsey Show
How The Baby Steps Protect You From Financial Uncertainty
FedEx will eat their lunch.
The Ramsey Show
How The Baby Steps Protect You From Financial Uncertainty
And one other point to point out, this is like Dems and Republicans posturing over the debt ceiling. Let me just tell you, it don't matter who they are. I've been around long enough to know they're going to keep extending the debt. So when I hear that headline, oh, it's going to shut the world down. The Republicans are going to shut the world down. They're going to keep extending the debt.
The Ramsey Show
How The Baby Steps Protect You From Financial Uncertainty
This is posturing a negotiation. You know this well. So in this case, nothing to worry about here at all. You're going to be paid at least a month as well. Even the union folks are saying we have about three months worth of dues set aside that would pay our members while we're striking. Right. So those are the nuances but actual facts that help you make this decision. Massive deal.
The Ramsey Show
How The Baby Steps Protect You From Financial Uncertainty
Hey, that's why you pay me to do it.
The Ramsey Show
How The Baby Steps Protect You From Financial Uncertainty
Oh, no, I'm not. I just have to pay attention to work-related issues like this, you know.
The Ramsey Show
How The Baby Steps Protect You From Financial Uncertainty
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The Ramsey Show
How The Baby Steps Protect You From Financial Uncertainty
I've been listening, Clayton, and I've been where you are. I actually hear me ten years ago on this phone call. So I just want to say this. Your issue is not comparison. Your issue is fear. And you're afraid you're not going to be able to do the things that you would like to do because you're too stuck in the headlines.
The Ramsey Show
How The Baby Steps Protect You From Financial Uncertainty
What's the most famous case of a story being taken very seriously?
The Ramsey Show
How The Baby Steps Protect You From Financial Uncertainty
yeah it's a joke because cnn yeah cnn really didn't do that huh who knew yeah as far as we know yeah yeah as far as we know is there anything off limits for you guys or how what's that editorial process like when i even hate to say editorial but there is a version of that
The Ramsey Show
How The Baby Steps Protect You From Financial Uncertainty
And what you're not focusing on is, as Dave has pointed out, you're crushing it, number one. You're really ahead of the game. This is all going to compound for you, and you're going to be fine. You're going to take some great vacations. But what you're not focused on is what you can actually do.
The Ramsey Show
How The Baby Steps Protect You From Financial Uncertainty
All right, so I got to know this. If you look to the recent past or maybe 100 years ago, as a satirist, who would you have loved to have been in the public scene now where you could have taken a crack at them? Whether that be in the faith-based world, politics, sports, what comes to mind when I ask you that?
The Ramsey Show
How The Baby Steps Protect You From Financial Uncertainty
You're focused on all these outside circumstances, the economy, inflation, whatever else is going on in your head.
The Ramsey Show
How The Baby Steps Protect You From Financial Uncertainty
Yeah, you need to start focusing on your income and what you're going to make next year and the year after that and how you're going to be able to make more money and that you can go out and determine your financial future. You're already great, but you're forgetting all this headline stuff and all this fear and comparison. Here's what you're forgetting.
The Ramsey Show
How The Baby Steps Protect You From Financial Uncertainty
What got you banned from TikTok? TikTok.
The Ramsey Show
How The Baby Steps Protect You From Financial Uncertainty
You know what's crazy about that is they won't let you make fun of anything, but they'll let kids go on and say stupid crap about time blindness and how she's mad at her boss. This is the latest rage. Time? Oh, this will make Dave's head explode. I'll have to tell him during the commercial break.
The Ramsey Show
How The Baby Steps Protect You From Financial Uncertainty
He can't handle it on the air. It's too much. But they'll let kids rage.
The Ramsey Show
How The Baby Steps Protect You From Financial Uncertainty
But you can't make a joke.
The Ramsey Show
How The Baby Steps Protect You From Financial Uncertainty
Your ability, your wife's ability, to put a financial plan that includes increasing income. You're going to be able to pay for all those things.
The Ramsey Show
How The Baby Steps Protect You From Financial Uncertainty
Might not be in all states. Today's question comes from Nikki in Kansas. My husband has been at his current job for over five years. He has received yearly inflationary raises. A new manager position was recently created and my husband considered applying for it. But before he could, it was given to another employee that has no previous experience in the role.
The Ramsey Show
How The Baby Steps Protect You From Financial Uncertainty
This new manager now repeatedly asked my husband for advice and wants him to work extra hours and to cover his lack of competence. I think it's time for him to find a new job, but he wants to make it work here. His annual review is coming up should he mention the situation and bring up needing increased compensation or a path to growth.
The Ramsey Show
How The Baby Steps Protect You From Financial Uncertainty
Well, Nikki, when somebody has done me wrong, I found, Dave, that my wife Stacy has always taken it worse. I don't know if Sharon's that way or not, but it feels like this situation where your husband's griped a little bit about this, Nikki, and you've gotten really upset about it. And I would listen to your husband here. He wants to make it work.
The Ramsey Show
How The Baby Steps Protect You From Financial Uncertainty
And based on the facts you've given us, he never raised his hand for the job. And because he didn't raise his hand, whoever hired this other employee is not on the line for that because they can't read minds. So in this situation, I always tell people to never ask directly for a raise. I teach to talk about a growth plan after you talk about a desire to grow.
The Ramsey Show
How The Baby Steps Protect You From Financial Uncertainty
I don't know if that helps you, Clayton, but you've got to shake all that stuff off. You're inside your head so deep.
The Ramsey Show
How The Baby Steps Protect You From Financial Uncertainty
In other words, I think in his interview, he needs to sit down and say, hey, listen, you know, I was thinking about raising my hand for this other position. I didn't. And that's on me. But what it did show me is that I want more. I want to lead. I want to step up. I want to climb here at Company XYZ.
The Ramsey Show
How The Baby Steps Protect You From Financial Uncertainty
So to that end, in my review, whether you got it for me today, but in the future, in the near future, I'd like to meet with you and discuss a growth plan. What tools can I add to my tool belt? In other words, skills and experience. And then what are some shortcomings? What are some areas that may be blind spots for me?
The Ramsey Show
How The Baby Steps Protect You From Financial Uncertainty
that I need to be aware of so that I do better and make myself a better employee? And then can we lay that plan out And how do we measure it so that you and I are operating off the same sheet of paper, same sheet of music? And if we measure that, will that lead to opportunity for more responsibility, which should come with more compensation?
The Ramsey Show
How The Baby Steps Protect You From Financial Uncertainty
That's the spirit, the posture that you should have so that you do not put your leader on the defensive. Because many times they are not the sole decision maker in you getting a promotion and a raise. And so the reason I prescribe it that way, Dave, is it allows them to have some ownership in it. They don't feel put on the spot. They don't feel backed into a corner.
The Ramsey Show
How The Baby Steps Protect You From Financial Uncertainty
And then we have an adult, mature, professional conversation about a path forward.
The Ramsey Show
How The Baby Steps Protect You From Financial Uncertainty
That's correct. That's very obvious.
The Ramsey Show
How The Baby Steps Protect You From Financial Uncertainty
Yeah, you've got to show some hunger. I think what they want to see here is I want to get better, I want to do more, be more, and that's attractive.
The Ramsey Show
How The Baby Steps Protect You From Financial Uncertainty
I did that. I did that for radio.
The Ramsey Show
How The Baby Steps Protect You From Financial Uncertainty
I want to say one other quick encouragement because, Dave, I think you're absolutely right. I just want to echo what Dave said. We have, with all young generations throughout history, but even more so now because we're in the social media era. God help us. I know. Unrealistic expectations lead to unmet expectations. I can't say that enough.
The Ramsey Show
How The Baby Steps Protect You From Financial Uncertainty
I wish I could preach that message to every young person in the world because here's the deal. You nailed it. They think when they get to six figures, that life's going to be an easy streak.
The Ramsey Show
How The Baby Steps Protect You From Financial Uncertainty
No, I just – my golf game is in the last category, just unmet, period.
The Ramsey Show
How The Baby Steps Protect You From Financial Uncertainty
Hey, it's Ken. If you like what you heard in this episode and want to know more about getting started on the Ramsey baby steps, go to RamseySolutions.com and click on the Get Started button. We'll help you figure out the best next step for you based on your specific situation. Again, that's RamseySolutions.com and click Get Started.
The Ramsey Show
How The Baby Steps Protect You From Financial Uncertainty
Yeah, I was getting ready to say it. A lot of people think they do.
The Ramsey Show
How The Baby Steps Protect You From Financial Uncertainty
Well, to win, Tanner, in professional world, financial world, you've got to sacrifice. Everybody who wins has to sacrifice something. And what we've done here with this 25%, you are now having to choose. Do you want to sacrifice money, as Dave said, by burning those extra $100 between the 5% that we're talking about? Or do you want to sacrifice a little bit of your time?
The Ramsey Show
How The Baby Steps Protect You From Financial Uncertainty
Now, you live in downtown D.C. That's premium. And I get it. You may work on the hill. Who knows what you do? But you're there for a reason. But if you move out into the suburbs of Northern Virginia, I know it well. Yes, it's a headache. But we'd rather you sacrifice the right thing. And that's why we put this. I want people to understand what we're teaching here.
The Ramsey Show
How The Baby Steps Protect You From Financial Uncertainty
It's not to be hard and fast on a rule. It's to help you learn what you need to sacrifice. And in my situation, if I were in your situation, Tanner, I would be sacrificing my time, not my money.
The Ramsey Show
How The Baby Steps Protect You From Financial Uncertainty
But I was stupid. We have a lot of 23-year-olds that are in a very similar situation to Tanner. Now, just think about this. If he gets a roommate... And now he's saving, let's just call it $1,000 a month, splitting the rent. He's paying off that student loan debt of $7,000 really, really fast, and now he's just stacking money. Yeah, he's stacking cash.
The Ramsey Show
Do You Have Too Much Month Left at the End of Your Money?
Do you work outside the home?
The Ramsey Show
Do You Have Too Much Month Left at the End of Your Money?
What would you say an all-in budget for you is? Do you have a pretty good idea what your budget is? This is not frills, but just paying for your basics and being comfortable. What's that number?
The Ramsey Show
Do You Have Too Much Month Left at the End of Your Money?
They're going to have to work and they're going to have to come up with scholarships and grants. And then there's the father. So I would tell you that this is not all on you. I think you've got to make the right decision for your home. Keeping your expenses low is you're now out on your own. That's your number one priority, not cash flowing their college.
The Ramsey Show
Do You Have Too Much Month Left at the End of Your Money?
Yeah. So sorry you're going through this, but take care of you first. The boys will be fine. This is The Ramsey Show.
The Ramsey Show
Do You Have Too Much Month Left at the End of Your Money?
Welcome back to The Ramsey Show. Alongside Jade Warshaw, I'm Ken Coleman. 888-825-5225 is the phone number to jump in. Today's question of the day is brought to you by our friends at YRefi. YRefi refinances defaulted private student loans. Defaulted means when the borrower's Can't make the required payments, so if that describes you and your private student loan, please contact Y-Refi.
The Ramsey Show
Do You Have Too Much Month Left at the End of Your Money?
They can offer a low fixed rate loan built for you. Go to Y-Refi.com slash Ramsey today. That's the letter Y-R-E-F-Y dot com slash Ramsey. It may not be available in all states.
The Ramsey Show
Do You Have Too Much Month Left at the End of Your Money?
I laugh at how Middle Tennessee is going to react and realize that if we need any bread or dairy product, I should probably go now, thus contributing to the problem I'm laughing about.
The Ramsey Show
Do You Have Too Much Month Left at the End of Your Money?
That's probably not the answer you were looking for.
The Ramsey Show
Do You Have Too Much Month Left at the End of Your Money?
Yeah, I agree. Good advice. Levi is joining us now in Minneapolis. Levi, how can we help?
The Ramsey Show
Do You Have Too Much Month Left at the End of Your Money?
Welcome to the Ramsey Show America. This is where we help you win in your life. We want you to win with your money, win in your profession, and win with your relationships alongside the fabulous Jade Warshaw. I'm Ken Coleman, excited to be together for you folks today. The phone number to jump in is 888-825-5225. 888-825-5225. 225, 225, and the new year is off and running.
The Ramsey Show
Do You Have Too Much Month Left at the End of Your Money?
Yeah, isn't that crazy? Five people will win $4,000. And after you sign up at RamseySolutions.com slash live stream... Create a free EveryDollar account to get a bonus entry in the giveaway.
The Ramsey Show
Do You Have Too Much Month Left at the End of Your Money?
Well, first of all, I want to congratulate you on – you find out you got a baby on the way, and you talk about adulting and growing up and manning up. I just want to call out – way to go, Levi – Way to go. You're paying off your debt. You got a fully funded emergency fund. I mean, I'm just very impressed.
The Ramsey Show
Do You Have Too Much Month Left at the End of Your Money?
So my only question that I have, Jade, and Levi, for you, is you said you're not able to afford more than putting 6% away for retirement. And I guess I don't understand that. What do you mean by I can't afford it?
The Ramsey Show
Do You Have Too Much Month Left at the End of Your Money?
Listen, I'm curious to know what my friend's going to say here. She's got a big old smile on her face, so I'm going to get out of the way, but my reaction to this is... You are rationalizing this. And if you rationalize it now, you're going to rationalize it later when you have more income to do more fun stuff.
The Ramsey Show
Do You Have Too Much Month Left at the End of Your Money?
Because you guys are going to be using EveryDollar during the live stream to show you the fastest, most practical way to get control of your money. So again, this Thursday, 7 p.m. Central Time. RamseySolutions.com slash live stream.
The Ramsey Show
Do You Have Too Much Month Left at the End of Your Money?
And I think that the crux of the issue is that started you down this path is you've been working like a madman doing a great job. Can you cut back a little bit? Should you cut back a little bit? I think yes and yes. But I would use that extra weekend, one or two weekends instead of four, and that's how I would fund my 15%. You know what I mean? Absolutely.
The Ramsey Show
Do You Have Too Much Month Left at the End of Your Money?
I would go ahead and start doing it now because, my friend –
The Ramsey Show
Do You Have Too Much Month Left at the End of Your Money?
But congrats on just stepping into being an adult and being responsible at the age of 22. I got a sense that he's going to be okay, whatever he does. This is The Ramsey Show.
The Ramsey Show
Do You Have Too Much Month Left at the End of Your Money?
Welcome back to The Ramsey Show. I'm Ken Coleman. Jade Warshaw is alongside. The phone number to jump in is 888-825-5225. 888-825-5225. And we are here for you. And my friend tells me right before we go live, she goes, I got to throw a little thought at you.
The Ramsey Show
Do You Have Too Much Month Left at the End of Your Money?
Now we need to explain that because people make assumptions. I am a student of the process. I love the peaceful transfer of power. I like the tradition. We're the youngest country out there.
The Ramsey Show
Do You Have Too Much Month Left at the End of Your Money?
It's going to be a cameo. So it's going to be a lot of fun. Don't want to miss that. All right, let's get to the phones. Zane is going to start us off in Dallas, Texas. Zane, how can we help today? Hey, am I on live? You're live, yes. Oh, cool. This is your moment.
The Ramsey Show
Do You Have Too Much Month Left at the End of Your Money?
So it's kind of fun. I did watch it.
The Ramsey Show
Do You Have Too Much Month Left at the End of Your Money?
Oh, I'm not pro-tariff. I'm anti-tariff.
The Ramsey Show
Do You Have Too Much Month Left at the End of Your Money?
I think tariffs have been useful economic tools. Many times they get turned into weapons. And here's my beef with tariffs for all the pro-Trump people who are automatically canceling me or mad at me. Let me explain why.
The Ramsey Show
Do You Have Too Much Month Left at the End of Your Money?
Because a tariff is meant to penalize a foreign country. All right. So let's just say that Trump puts a tariff on all Canadian products that American companies import in here and sell to you, the people. Yes. It is meant to penalize Canada by making their products more expensive and thus trying to motivate American companies to pick another product. Here's the challenge.
The Ramsey Show
Do You Have Too Much Month Left at the End of Your Money?
When we say American made, and nobody's more America first than me, and I'd love to see American workers make American products. However, our people, and I'm proud of this, get paid more than everybody else in the world. So it is very expensive for a small business. Let's take small business XYZ. Let's say they import a widget from Canada.
The Ramsey Show
Do You Have Too Much Month Left at the End of Your Money?
When Trump puts a tariff on that widget from Canada, it doesn't just penalize Canada.
The Ramsey Show
Do You Have Too Much Month Left at the End of Your Money?
It's going to penalize a small business because let's say they've got orders coming in all the time and they go, I can't find a comparable widget from some other country and I certainly can't find one in America. It's going to cost me more. So that tariff is paid for by the small business. Sure. Well, that small business can't afford to change their margin. So what do they have to do?
The Ramsey Show
Do You Have Too Much Month Left at the End of Your Money?
They have to raise the price of said widget. That's right. So in all reality, and I don't want to hurt anybody's feelings, but this is economics 101. This is not Democrat. This isn't Republican. This is just, this is how economics works. Tariffs do become a tax for the consumer.
The Ramsey Show
Do You Have Too Much Month Left at the End of Your Money?
Well, again, we're talking about President Trump. This is his policy. He's very pro-tariff, and he comes at it from a, other countries need to be paying us more. You know, I want to bring more income to the United States and through the Treasury, so forth and so on. It's just not that simple.
The Ramsey Show
Do You Have Too Much Month Left at the End of Your Money?
And so, therefore, the answer to your question, I can't even simplify that because it's a, the answer is we don't know. But traditionally, when you raise costs for American businesses, it leads to inflation.
The Ramsey Show
Do You Have Too Much Month Left at the End of Your Money?
So 2022, you know, I'm consistent on this. People ask, I've been on Fox news and I made the host. He got a little, got his feathers ruffled when I just said, look, this is what I think about tariffs. Yeah. I think the best thing that Trump can do or any president is cut regulations. So government regulations, things that cost businesses money to comply with and cut taxes for businesses.
The Ramsey Show
Do You Have Too Much Month Left at the End of Your Money?
When both of those things are cut, Prices go down. When prices go down for the American people, theoretically, and this is what we're here to do, is that allows people more room in their budget if they aren't spend crazy. So I am always going to be low tax. Low to no tariffs because I believe in a free market system that takes care of itself.
The Ramsey Show
Do You Have Too Much Month Left at the End of Your Money?
In other words, if the consumer wants to pull back, they pull back. That means if they pull back, guess what the companies do? They lower prices. Car prices go down when demand goes down.
The Ramsey Show
Do You Have Too Much Month Left at the End of Your Money?
Housing prices go down when demand goes down. This is called a free market system. And the market... drives what's going on. I don't like government weighing in. And I'm libertarian on that stuff. But again, that's just my position. I got you. You don't have to agree with that.
The Ramsey Show
Do You Have Too Much Month Left at the End of Your Money?
Oh, man. What happened? Give us the quick version of what happened.
The Ramsey Show
Do You Have Too Much Month Left at the End of Your Money?
The government. You know who needs more money? Folks? You find people. If you want to know, vote for me because I'm pro-people. I'm serious.
The Ramsey Show
Do You Have Too Much Month Left at the End of Your Money?
I just don't want more money in the federal government. They don't know what to do with it. And I think each of you people that are listening today and watching, and I mean this from the bottom of my heart, I mean, James Childs has known me a decade. He knows I'm telling you the truth.
The Ramsey Show
Do You Have Too Much Month Left at the End of Your Money?
I believe that you all can handle your money if you work with Ramsey Solutions and we teach you how to budget. Facts. But I believe the American people and the people of the world can manage their money better than anyone else can manage it for them. And I'm talking about government, bureaucrats, and politicians. That's what I believe at my core.
The Ramsey Show
Do You Have Too Much Month Left at the End of Your Money?
Love it. I like that too. I love any policy that lowers taxes. Now, I mean, you throw it at me. I'm having a hard time saying I'm not for that. I mean, I think people who rely on tips, they are relying on the generosity of the people that they serve.
The Ramsey Show
Do You Have Too Much Month Left at the End of Your Money?
So if someone, if you and Sam and Stacey and I are at dinner, and we were just at dinner a couple months ago, and remember that guy, kind of an artsy guy, musician guy? Either way, you don't remember him. Maybe, tell me more. He did a great job.
The Ramsey Show
Do You Have Too Much Month Left at the End of Your Money?
We sat outside. Yes, I remember. And the four of us, I feel like we all commented on, the guy did a really good job. So here's my point. He served us so well. that then the Warshaw family decides at that moment of the check to go, how much of our money beyond the meal are we going to give to this guy because we appreciate how he took care of us? And then the Coleman's do the same thing.
The Ramsey Show
Do You Have Too Much Month Left at the End of Your Money?
The government gets to tax my generosity? No. I'm sorry. The government gets to tax my appreciation?
The Ramsey Show
Do You Have Too Much Month Left at the End of Your Money?
Don't tax my appreciation. My man did a good job. He's out hustling for us. I'm going to give him a little extra.
The Ramsey Show
Do You Have Too Much Month Left at the End of Your Money?
What's the status on being able to get back to work?
The Ramsey Show
Do You Have Too Much Month Left at the End of Your Money?
They taxed you when you got it. Now they're going to tax him when you give it? Nah, man. Who... Man, this is unifying the country.
The Ramsey Show
Do You Have Too Much Month Left at the End of Your Money?
So anyway, I hope that that goes through as well. But yeah, I think in general, I want... people to have more of their hard-earned money.
The Ramsey Show
Do You Have Too Much Month Left at the End of Your Money?
So that they can give, save, and spend as we teach here at Ramsey Solutions. Give the way they want to give.
The Ramsey Show
Do You Have Too Much Month Left at the End of Your Money?
Save what they want to save and spend how they want to spend. This is what Thomas Jefferson meant when he said the pursuit of happiness.
The Ramsey Show
Do You Have Too Much Month Left at the End of Your Money?
It's just this idea that this is the life that I choose to live. You said it earlier. If I want to drive a used Camry the rest of my life, then freaking drive a used Camry the rest of your life. This is your life.
The Ramsey Show
Do You Have Too Much Month Left at the End of Your Money?
And I think we need more of our money. So there you go. Good word, Ken. Economics 101. Politics, by the way, is simple when you make it about that. This is The Ramsey Show.
The Ramsey Show
Do You Have Too Much Month Left at the End of Your Money?
Welcome to The Ramsey Show, where we help you win in your life. We're going to help you win with your money, win in your profession, and win in your relationships. 888-825-5225 is the phone number. I'm Ken Coleman, alongside Jade Warshaw. 888-825-5225 is the phone number.
The Ramsey Show
Do You Have Too Much Month Left at the End of Your Money?
By the way, our Ramsey Show annual listener survey is now live, and we would love to know what you think of the show, what you like, what you don't, what you want to hear more of. Whatever it is, we'd love to get your feedback. There's two ways to participate. You can text the word SURVEY That's the word, survey. Text that to 33789, 33789.
The Ramsey Show
Do You Have Too Much Month Left at the End of Your Money?
Or you can go to ramseysolutions.com slash survey, ramseysolutions.com slash survey. Or you can click the link in the show notes on podcast or YouTube. Sign up today, and you will be entered to win a $500 gift card, but we would love to hear from you. All right, Alyssa is now on the line in Albany, New York. Alyssa, how can we help?
The Ramsey Show
Do You Have Too Much Month Left at the End of Your Money?
Tell us a little bit more. What do you mean we're on the same page, but it's about to crash? Give us the specifics.
The Ramsey Show
Do You Have Too Much Month Left at the End of Your Money?
Well, first of all, you need some type of help. You can't go through this on your own. And this is a marriage issue, but you can just hear your voice. You can just hear how stressed out you are.
The Ramsey Show
Do You Have Too Much Month Left at the End of Your Money?
What does he do for a living?
The Ramsey Show
Do You Have Too Much Month Left at the End of Your Money?
I think they've got to scrape some money together, and you guys need a marital counselor so that a mediator can show him how you're feeling. And he's got to wake up. This is The Ramsey Show.
The Ramsey Show
Do You Have Too Much Month Left at the End of Your Money?
Welcome back to The Ramsey Show. I'm Ken Coleman alongside my friend Jade Warshaw. We're so excited to be together for you today. 888-825-5225. 888-825-5225. All right, let's go to Salt Lake City, Utah, and Haley is joining us. Haley, how can we help?
The Ramsey Show
Do You Have Too Much Month Left at the End of Your Money?
Oh, that's dangerous. Yeah, but you falling through the floor is not a good idea. And it feels like the sink is about ready to turn into a massive plumbing expense.
The Ramsey Show
Do You Have Too Much Month Left at the End of Your Money?
So three's off the table. You knew that, Haley, right? Yeah.
The Ramsey Show
Do You Have Too Much Month Left at the End of Your Money?
um yes to an extent okay so let's go back to one let's go to option one okay suck it up and save for a year um how much are you uh anticipating that this that the reno would cost um we're thinking it will like on the low end it would probably be around 20k okay okay and how much do you have saved towards that right now we're not talking your actual emergency fund you have any other savings
The Ramsey Show
Do You Have Too Much Month Left at the End of Your Money?
That's good. You're not going to like this answer, Haley, but I would absolutely, the two of you go, okay, what's it going to take for us to come up with another $12,000 and how fast can we do that? And I would be so motivated by that floor and that sink. I would be selling stuff. I would be doing everything that I could do to come up with that $12,000.
The Ramsey Show
Do You Have Too Much Month Left at the End of Your Money?
And to be completely honest with you, I would cash flow as you go. And what I mean by that is if this were my house. and you were my wife and I was your hubs, I'd be going, uh, I got to fix the floor first.
The Ramsey Show
Do You Have Too Much Month Left at the End of Your Money?
Like she, we can't fall through. So, okay. What is it going to take to fix the floor? All right. And then I'm making this up Haley, but let's say the, do you have any idea? Have you, have you, uh, uh, line item that out? What's the floor going to take?
The Ramsey Show
Do You Have Too Much Month Left at the End of Your Money?
Well, what about the sink that's literally falling into something? What is it going to cost to fix that?
The Ramsey Show
Do You Have Too Much Month Left at the End of Your Money?
I was trying to get her to pay for an appetizer and save up for the entree. She's like, nope, we got to have a five-course meal at once. Does your husband know how to do work?
The Ramsey Show
Do You Have Too Much Month Left at the End of Your Money?
Well, again, Haley, listen, back to the point I'm trying to make. Do you disagree with this, Jade? I think they just really hustle and come up with $12,000.
The Ramsey Show
Do You Have Too Much Month Left at the End of Your Money?
Like Martha Stewart's hired you.
The Ramsey Show
Do You Have Too Much Month Left at the End of Your Money?
Don't finance it because then you're going to be stressed out over it. I would try to live around it and make that your motivation.
The Ramsey Show
Do You Have Too Much Month Left at the End of Your Money?
You're trying to depress her?
The Ramsey Show
Do You Have Too Much Month Left at the End of Your Money?
Homes on Homes. No, I totally get it. I totally know what you're talking about. she's so happy with herself. She's, she's watched a lot of HGTV. Watched a lot of TV. She's watched a lot of HGTV. But yeah. Yeah. Don't finance it. And the reason is, is I know where you're coming with this because you were going like this. Well, look, it's our kitchen. I mean, it's the house we live in. And, um,
The Ramsey Show
Do You Have Too Much Month Left at the End of Your Money?
Yeah, and the finance charge on this adds to the stress. Just avoid this at all costs. Get really innovative. Let me tell you something. I've read a lot of books on innovation, and I'm going to steal something from innovation to give to you, Haley, and I hope it becomes inspiration.
The Ramsey Show
Do You Have Too Much Month Left at the End of Your Money?
Innovation to inspiration.
The Ramsey Show
Do You Have Too Much Month Left at the End of Your Money?
You know, I know. Don't make me do this. Here's what we know about the great innovators. They innovated. They created something because of a lack of resources. It was the lack of resources, tools, elements, whatever, that led them down the process of what we call innovation. And innovation happens best and most—this is a fact—
The Ramsey Show
Do You Have Too Much Month Left at the End of Your Money?
When we are limited and we have to then dive deeper into our imagination. That's right. And I really believe that if you treat this kitchen project like that, like we ain't got 20,000.
The Ramsey Show
Do You Have Too Much Month Left at the End of Your Money?
We got a problem that we got to solve. How many different ways can we solve this? And next thing you know, you've got an episode of MacGyver.
The Ramsey Show
Do You Have Too Much Month Left at the End of Your Money?
So I really would challenge you. I think you two can figure this out. And I think on the other side of this, it's going to be less stress, better marriage, better kitchen. This is The Ramsey Show.
The Ramsey Show
Do You Have Too Much Month Left at the End of Your Money?
Welcome back to The Ramsey Show alongside my friend, Jade Warshaw. I'm Ken Coleman, 888-825-5225 is the phone number for your call today. You don't want to miss our two-night virtual event with Dave Ramsey and George Campbell. It's called Investing Essentials. We did this last year, and it was just a huge success.
The Ramsey Show
Do You Have Too Much Month Left at the End of Your Money?
People want to know about how we teach people to invest because it's overwhelming and confusing, to be quite frank. And you can't figure it out in a 60-second reel. But at our virtual event, we're going to walk you through maximizing your 401k mutual funds to get the most out of your money. It's the only place to get Dave's personal playbook on real estate investing.
The Ramsey Show
Do You Have Too Much Month Left at the End of Your Money?
And he'll explain how he's made hundreds of millions of dollars in property investments. You can get clarity, which will give you confidence. to invest and build wealth. This is March 4 and 5. It's a two-night event, virtual, so you can watch it from home. Tickets start at $199. $199 on March 4 and 5.
The Ramsey Show
Do You Have Too Much Month Left at the End of Your Money?
Get your ticket today at ramseysolutions.com slash events, or you can click the link in the show notes. Have I talked about the show notes yet today?
The Ramsey Show
Do You Have Too Much Month Left at the End of Your Money?
I'm going to talk about the show notes.
The Ramsey Show
Do You Have Too Much Month Left at the End of Your Money?
If we ever talk about stuff, and we talk about stuff, we know you all are moving around, you're on the exercise bike right now, or I don't know, some of you are on a snow plow, I don't know, and you hear something, you go, oh, I can't remember what the URL was. Some of you don't even know what a URL is. Just go to the show notes if you're watching on YouTube.
The Ramsey Show
Do You Have Too Much Month Left at the End of Your Money?
It's right there in the comments, right there below the video window, and your favorite podcast app. The show notes, Jade, it's a treasure trove. It is a treasure trove. All right. That's all I want people to know because I'm that person. What'd he say? Stacey's like, what'd you say? And we're like, what'd you say? And we're like, we don't even know what we're saying.
The Ramsey Show
Do You Have Too Much Month Left at the End of Your Money?
Don't go. All the links. That's all I wanted to say. It's a PSA. All right. Let's go to Green Bay. Oh, this is exciting. Because, you know, years ago Dave wrote, not too long ago, Baby Steps Millionaires. Love it. And from time to time we have fun when Baby Steps Millionaires call the show and tell us their story. So we've got Alyssa who is waiting in Green Bay, Wisconsin.
The Ramsey Show
Do You Have Too Much Month Left at the End of Your Money?
Alyssa, you're on the Ramsey Show. How can we help?
The Ramsey Show
Do You Have Too Much Month Left at the End of Your Money?
So you're a Baby Step Millionaire. I am. Oh my goodness.
The Ramsey Show
Do You Have Too Much Month Left at the End of Your Money?
Oh, wow. Let me just say, Alyssa, 34 is young. I don't care what anybody tells you, that's young. I'm telling you it's young. Yeah, it's a fact. Well, that's very exciting. Okay, so tell us your net worth. So it's just over a million, about a million and 20,000.
The Ramsey Show
Do You Have Too Much Month Left at the End of Your Money?
And how long ago did you crack the one million mark?
The Ramsey Show
Do You Have Too Much Month Left at the End of Your Money?
All right, give us the mix of what is making up the 1 million network.
The Ramsey Show
Do You Have Too Much Month Left at the End of Your Money?
All right. So I love this. I mean, just hitting that one million mark, and I love how it's spread out. This is real everyday people. Yeah. Are you actually in Green Bay or in surrounding area? Surrounding area is Appleton, which is...
The Ramsey Show
Do You Have Too Much Month Left at the End of Your Money?
Well, you'll notice none of it's inherited at all. You've just been building it up, and at a very young age, as we like to point out. What's the income, household income?
The Ramsey Show
Do You Have Too Much Month Left at the End of Your Money?
Nice. That's a good start.
The Ramsey Show
Do You Have Too Much Month Left at the End of Your Money?
Very processed people. Uh-huh.
The Ramsey Show
Do You Have Too Much Month Left at the End of Your Money?
And GPA in college for both of you?
The Ramsey Show
Do You Have Too Much Month Left at the End of Your Money?
Oh, well, I don't like people like you.
The Ramsey Show
Do You Have Too Much Month Left at the End of Your Money?
When are you going to take that job?
The Ramsey Show
Do You Have Too Much Month Left at the End of Your Money?
Very cool. And you really, I was going to ask you what advice would you give to somebody, that young couple like you, but I feel like you just gave the advice in telling us what you all did. But I would ask, you told us what you did, but is there a mindset that you would describe for young couples that are listening or watching right now and hearing your story? And they're going, man, 34.
The Ramsey Show
Do You Have Too Much Month Left at the End of Your Money?
They just crossed the millionaire line not too long ago. They started out at 22. What would you say about mindset?
The Ramsey Show
Do You Have Too Much Month Left at the End of Your Money?
Fantastic. Okay. So there's income. And I think Jade's right. You call the hospital. Get a hardship or something. And you talk to them about what you'd like to do. And if you can settle for – Jade, what do you think about his initial idea of settling for a much lower number?
The Ramsey Show
Do You Have Too Much Month Left at the End of Your Money?
And I looked up today, Jayden, it's like, where did January go? Man, what? Come on. And so, hey, if you're trying to get control of your money, we're not talking about a New Year's resolution. You're just saying, listen, 2025, we have to stand on business.
The Ramsey Show
Do You Have Too Much Month Left at the End of Your Money?
What kind of cars do you guys drive?
The Ramsey Show
Do You Have Too Much Month Left at the End of Your Money?
Really? How crummy are we talking about?
The Ramsey Show
Do You Have Too Much Month Left at the End of Your Money?
Love it. Alyssa, thank you so much for calling and sharing your Baby Steps Millionaire story. 34 years of age. Got started a young couple at 22, Jay.
The Ramsey Show
Do You Have Too Much Month Left at the End of Your Money?
All right. I hear you. I like that. It's good advice. Hey, don't move. We'll be right back. This is The Ramsey Show.
The Ramsey Show
Do You Have Too Much Month Left at the End of Your Money?
Welcome back to the Ramsey Show. I'm Ken Coleman. Jade Warshaw is alongside 888-825-5225, 888-825-5225. Now, my partner and I here, we were talking earlier in the show, and we talk all the time around the office about this, Inflation, right? There is a natural progression of inflation over time. The Fed, just kind of a quick review here because Jade's got a little something to share here today.
The Ramsey Show
Do You Have Too Much Month Left at the End of Your Money?
So teeing you up here because everybody's heard about the Fed. Jerome Powell, unfortunately, has become a name that everybody knows. And to his credit, the Fed is attempting, sometimes I agree with him, sometimes I don't, But they are always attempting to keep inflation in that 2, 2.5% range or so. And when it gets above that, they start paying attention.
The Ramsey Show
Do You Have Too Much Month Left at the End of Your Money?
And this is where we get the monetary policy. You all are paying attention to the headlines all the time when you see, are they raising rates? Are they dropping rates? All this kind of stuff. So it's always an interesting tension between wages. Are wages going up? Are they outpacing the inflation? Are they outpacing inflation? Very hard for that to happen over long term.
The Ramsey Show
Do You Have Too Much Month Left at the End of Your Money?
So anyway, nonetheless, what do you got here? You got a little something for us?
The Ramsey Show
Do You Have Too Much Month Left at the End of Your Money?
Well, that was his second option. His first option was going to the hospital and saying, look, I don't know if I'll ever be able to pay that back. Can we do a lower number?
The Ramsey Show
Do You Have Too Much Month Left at the End of Your Money?
Well, no, they're not, and they can't. It's unsustainable. So, for instance, if we look from a macro, so real big picture, you know, wages can't outpace inflation on the regular because it just gets to be too much. So there's this give and take between wages. It kind of comes up and down. It's a bit of a roller coaster.
The Ramsey Show
Do You Have Too Much Month Left at the End of Your Money?
It does not. So you don't want to get into an apples for apples is what I'm saying. The conversation, this idea that, well, inflation over the last quarter was this, so wages should have done that. It's not how that works. You're looking at the total. This is kind of a complex conversation, and I'm trying to keep it simple. Keep it simple.
The Ramsey Show
Do You Have Too Much Month Left at the End of Your Money?
But you can't force on companies this idea when you're in an inflationary period like we had been, if you go back about two years ago, and inflation is really, really high. you cannot expect companies to go, well, because inflation is up here, I got to raise everybody's wages because that, again, that drives more inflation. Right.
The Ramsey Show
Do You Have Too Much Month Left at the End of Your Money?
Because when they raise wages, they're raising their expenses, they pass those expenses. So you got to be careful is my point. So this back and forth and trying to keep that, that's not what you want. What's interesting about this article, as you were talking, that I saw, the reason why people feel And really see it at the grocery store.
The Ramsey Show
Do You Have Too Much Month Left at the End of Your Money?
By the way, we saw this talked about in the media leading up to this last election. That's right. You saw it on MSNBC. You saw it on CNN and Fox. My point is it didn't matter what side of the aisle. Everybody was feeling the pinch on a lot of consumer goods. And this is what's interesting. If you look at 2019. Yeah. So this is right before the pandemic.
The Ramsey Show
Do You Have Too Much Month Left at the End of Your Money?
Remember, just kind of a quick history lesson, because this is crazy. It doesn't seem like it was that long ago. No, it doesn't. But here we sit almost five years. We're almost five years to the day, not quite, but five years, a couple weeks, when the pandemic really begins to hit the U.S.
The Ramsey Show
Do You Have Too Much Month Left at the End of Your Money?
Yeah, that's when it started going bananas, but we now know it was at the Super Bowl.
The Ramsey Show
Do You Have Too Much Month Left at the End of Your Money?
In Miami. Nobody knew. All right, so here's the point. So if we're January 2025... If you go to December 2019, U.S. prices cumulatively are up 23%. That's where people are feeling it. For instance, a four-pound bag of Domino's sugar now costs $4.46. That's 74% more. Than 2019. Compared. A dozen eggs, $4.90. That's 83% more. Tide liquid. I could keep going on and on.
The Ramsey Show
Do You Have Too Much Month Left at the End of Your Money?
These are the staples. So when you're buying these every week, these aren't your splurges.
The Ramsey Show
Do You Have Too Much Month Left at the End of Your Money?
So here's what's happened. You can't get all hung up in inflation cost per month because what happens is you have large spikes. So back to the quick timeline. This will be helpful for folks. We go into the pandemic, Jade, starts in, let's call it 2020, early 2020, and the whole world shuts down. All right.
The Ramsey Show
Do You Have Too Much Month Left at the End of Your Money?
So in that moment, you did have multiple, let's call it storms converging for a massive once in a generation, I hope, financial storm. One, the scarcity because we had supply chains interrupted. The whole world shut down for a while. Every state was different. Every country was like, what are we doing?
The Ramsey Show
Do You Have Too Much Month Left at the End of Your Money?
Yeah. Yeah. I agree. I think you tell them, look, I'm a 19-year-old kid. I didn't have insurance. Here's why. Tell them your story.
The Ramsey Show
Do You Have Too Much Month Left at the End of Your Money?
Secondly, demand did increase a couple months in when people started going, okay, I'm at home, I'm working from home, but I got to have food. Remember, we saw liquor stores, things spike. So here's what happened. This is interesting. So all of that comes into natural economic factors, which makes demand higher and scarcity, and that created an increase.
The Ramsey Show
Do You Have Too Much Month Left at the End of Your Money?
Here's what this article says, and it's absolutely right. I'm reading from this article, big price increases are rarely followed by equally big price decreases.
The Ramsey Show
Do You Have Too Much Month Left at the End of Your Money?
That's the key point. While the inflation rate has cooled, your $4 sugar is here to stay.
The Ramsey Show
Do You Have Too Much Month Left at the End of Your Money?
That's what's unfortunate. Unless you get into depressionary and very serious recessionary forces, that can make those go down. But by and large, if we stay in a somewhat healthy economy, Jade, these prices are here to stay.
The Ramsey Show
Do You Have Too Much Month Left at the End of Your Money?
Good news is inflation as we see it has cooled. Bad news is companies don't just go, well, you know what? For the last five years, people have been paying $4.66 for this sugar, and we used to sell it for only $2. Let's go back to that. They're not going to go back. And so there comes in the evil capitalism cries and the rub between, and by the way, this is the tension that exists in America today.
The Ramsey Show
Do You Have Too Much Month Left at the End of Your Money?
And if you could get it to 60, that's the number you threw out, that's very doable for you to pay that off. But as soon as you can get healthy, yeah, man, you're getting out to Midland. And, man, you're a young Billy Bob Thornton out there. Hey, Landman. I got to tell you.
The Ramsey Show
Do You Have Too Much Month Left at the End of Your Money?
Is people go, wait a second. You used to charge me this. Now you're charging me this.
The Ramsey Show
Do You Have Too Much Month Left at the End of Your Money?
Yeah, they're not going to print menus. You know what else they figured out? Go to the coffee shop in my neighborhood. Sweet little gal makes me a coffee, then turns the screen and goes, Would you like a tip? I feel like going, no, I just want my coffee. This is the Ramsey Show.
The Ramsey Show
Do You Have Too Much Month Left at the End of Your Money?
It's so good. It's good. I got ahead of it and got in trouble with Stacey, so I had to slow down.
The Ramsey Show
Do You Have Too Much Month Left at the End of Your Money?
Get mama caught back up on it. And I got to tell you.
The Ramsey Show
Do You Have Too Much Month Left at the End of Your Money?
Yeah, yeah. Great show. Get your popcorn out. All right, we'll be right back. This is The Ramsey Show.
The Ramsey Show
Do You Have Too Much Month Left at the End of Your Money?
Welcome back to The Ramsey Show. I'm Ken Coleman alongside Jade Warshaw. The phone number for you to jump in is 888-825-5225. Today we'll focus on your money questions, of course, and also your professional questions so we can make more money and create more margin through the baby steps. 888-825-5225 is the number. Matt is joining us now in Phoenix, Arizona. Matt, how can we help?
The Ramsey Show
Do You Have Too Much Month Left at the End of Your Money?
That's right. Coming up this Thursday, my friend right over there to my right, she is going to be on the stage with Dave Ramsey. They are headlining our free live stream event. Tell them what it's going to be and what it's going to do for them.
The Ramsey Show
Do You Have Too Much Month Left at the End of Your Money?
Thanks for the call, Matt. Thanks for the call. Excuse me. My voice just went out on me there. I flimped. Yeah. Kyle is joining us now in New York City. Kyle, how can we help?
The Ramsey Show
Do You Have Too Much Month Left at the End of Your Money?
It's a good dude. Yeah, very good dude. Let's go to Emily in Denver, Colorado next. Emily, how can we help?
The Ramsey Show
Do You Have Too Much Month Left at the End of Your Money?
How much cash are we talking about?
The Ramsey Show
Do You Have Too Much Month Left at the End of Your Money?
No, I'm sorry. How much cash do you have?
The Ramsey Show
Do You Have Too Much Month Left at the End of Your Money?
Okay, so let's just back up so that we know what we're dealing with. We've got to kind of get an idea of what you're talking about. So you're in a divorce. You're going to move. How much equity do you have in the home?
The Ramsey Show
Do You Have Too Much Month Left at the End of Your Money?
And then how old are the boys? What grades are they in?
The Ramsey Show
Do You Have Too Much Month Left at the End of Your Money?
Do you have any college money set aside?
The Ramsey Show
There’s Always a Way out of a Financial Spiral
Yeah, to lower that monthly so that you can put more money in the snowball. That's right.
The Ramsey Show
There’s Always a Way out of a Financial Spiral
That's right. All right, very good. All right, quick break, and we'll be right back with more of The Ramsey Show. Alongside Jade Warshaw, I'm Ken Coleman. This is The Ramsey Show. We're here for you. We want to help you win with your money. We want you winning in your professional life. We want you winning in your relationships. 888-825-5225 is the phone number. Let's go to Boise, Idaho.
The Ramsey Show
There’s Always a Way out of a Financial Spiral
Bryce is joining us there. Bryce, how can we help today? Hey, how are you doing? Good, Bryce. How are you? Good. How can we help?
The Ramsey Show
There’s Always a Way out of a Financial Spiral
Well, I don't think there's going to be a next year. Don't you agree? I mean, we kind of know that. So I want to encourage you first. $5,500 in student loans, cake. Okay? Not fun. I'm not minimizing how it makes you feel. But in the grand scheme of things, you being able to pay off $5,500 in the near future, extremely doable, and we'll talk you through that. I want to talk about the transition.
The Ramsey Show
There’s Always a Way out of a Financial Spiral
I heard you say... that you went to college essentially just to escape a really not-so-great family life. True?
The Ramsey Show
There’s Always a Way out of a Financial Spiral
So you kind of made this decision on your own. Is that also true?
The Ramsey Show
There’s Always a Way out of a Financial Spiral
All right. So you can also make the decision to leave on your own, and no one's really giving you grief about it, or it doesn't matter, correct?
The Ramsey Show
There’s Always a Way out of a Financial Spiral
Right. In other words, your mom and dad didn't pressure you to go to college, yes?
The Ramsey Show
There’s Always a Way out of a Financial Spiral
Okay, great. So I'm a big fan of not going to college in two instances. One, if the degree isn't the only way to do what I want to do, or if the degree isn't the best way to do what I want to do. In this case, you're presenting to Jade and I as though you don't know what you want to do, but I got a feeling you might have some ideas. Is that true?
The Ramsey Show
There’s Always a Way out of a Financial Spiral
All right. Give me the most positive idea you got. The top of the list. We know it's not your favorite list. We know it's probably not going to stay at the top of the list, but I'm just curious right now, what's at the top of the list? And let me put it to you this way. I really want to know what the top of your list is.
The Ramsey Show
There’s Always a Way out of a Financial Spiral
And then, okay, if we were guaranteed we'd be successful at it, would it still be on the list? So I'll ask you that in a second, but I'm preparing your brain. So first, what is at the top of your list?
The Ramsey Show
There’s Always a Way out of a Financial Spiral
um some sort of uh fly fishing guide up in montana probably fly fishing guide in montana fantastic all right now let's ask you that question if i guaranteed you and you in a snap of my fingers you were going to be very successful at being a fly fishing guide in montana would you pack it all in right now and head that way or would you still have questions
The Ramsey Show
There’s Always a Way out of a Financial Spiral
All right, now, so then tell me then what you meant by, well, I got a list of ideas, Ken, but it's not real positive. Is it that it's not positive because you think it's a long shot, dare I say, a fantasy to become a successful fly fishing guide? Is that why you said it wasn't positive?
The Ramsey Show
There’s Always a Way out of a Financial Spiral
Welcome to the Ramsey Show, America. Thrilled to have you with us. We're here to help you win in your life. We want you to win with your money, win in your professional life, and win in your relationships. Alongside Jade Warshaw, I'm Ken Coleman. The phone number to jump in is 888- 825-5225. 888-825-5225. Let's get to the calls. You ready to go, partner?
The Ramsey Show
There’s Always a Way out of a Financial Spiral
Okay. What makes you believe that you can't be a fly fishing guide in any state but Montana?
The Ramsey Show
There’s Always a Way out of a Financial Spiral
Okay, great. Great answer, young man. Now, why is it that fly fishing is at the top of the list? Describe why, and give me 10 seconds. Don't make it sound pretty. Just tell me your guts.
The Ramsey Show
There’s Always a Way out of a Financial Spiral
But would you say you also love being outdoors?
The Ramsey Show
There’s Always a Way out of a Financial Spiral
Would you also say that the idea of wearing a white collared shirt and khaki pants and working in a cube sounds like misery? Is that true?
The Ramsey Show
There’s Always a Way out of a Financial Spiral
You love nature, hunting, fishing, I'm guessing. Is this true?
The Ramsey Show
There’s Always a Way out of a Financial Spiral
All right. So you know what I would be doing? I love that you've already gathered information that the fly fishing guide industry is pretty saturated, and for a variety of reasons, which we don't need to discuss, it's very hard to make a living. However...
The Ramsey Show
There’s Always a Way out of a Financial Spiral
would you say that there are multiple ways for a young guy like you who doesn't need a ton of money to get in and get started in other, and let's call it field and stream type stuff, to borrow a magazine title, whether it be the hunting or expeditions, but anything that is outdoor whitewater rafting to fishing, to hunting, does it have to be fly fishing for you to get the same thing you get out of fly fishing?
The Ramsey Show
There’s Always a Way out of a Financial Spiral
Okay, don't get too excited over here, Mrs. Clean Food. What's your income, combined income?
The Ramsey Show
There’s Always a Way out of a Financial Spiral
So you're telling me you couldn't get involved with anything else on the water in some type of stream or lake or something like that?
The Ramsey Show
There’s Always a Way out of a Financial Spiral
Yeah, Bryce, you're going to have to take some advice from your older bro and older sis on this one because we've been down this road. And I understand at this point in your life where you go, that one thing I really, really love is fly fishing. And when I'm doing that, I'm at peace. By the way, that can still be true, but it might be a hobby. It might be a hobby.
The Ramsey Show
There’s Always a Way out of a Financial Spiral
It might be a little side hustle. But if I were you, I would head west, young man, and I would start working for an outfitter. I'd start working in that industry fishing because, you know, part of me wants to go, I think you could be pretty happy if you head down to Florida and you were on one of those deep sea fishing boats and you're helping people pull a big old giant whatever out of the water.
The Ramsey Show
There’s Always a Way out of a Financial Spiral
It was scary. But Bryce, I think you have to, here's my point. To summarize this, yes, I would drop out of college. You don't have the money for it, and you don't have the need for it. You don't need a degree to do what you want to do. And at this point in your life, you need to be away from family anyway. And I think there's some wisdom that you've got. I think you've shown some maturity there.
The Ramsey Show
There’s Always a Way out of a Financial Spiral
And I would go explore, and I would jump from, in this case, I'm fine with you jumping from job to job, thing to thing, in that industry.
The Ramsey Show
There’s Always a Way out of a Financial Spiral
So that you figure out, because Jade, you would have never guessed in a million years that you would have gone from where you went, artist, volleyball player in college, you're all over cruise ships, and now... You literally co-host the second largest radio show in the world, one of the top podcasts in the world. You didn't see yourself sitting at this desk ever. It was never in your bingo card.
The Ramsey Show
There’s Always a Way out of a Financial Spiral
And what did it do for you? Why would it help him? You see, you went on cruises and sang as a professional.
The Ramsey Show
There’s Always a Way out of a Financial Spiral
And Bryce, hear what she just said. You don't have to start a business tomorrow or next year. Just go work and go work in that world that you know you love. It's similar to fly fishing. Don't limit yourself, but get in that area. And I promise you, with connections, it's going to take off. Hang on the line. Chrissy, let's give them a copy of my best-selling book, The Proximity Principle.
The Ramsey Show
There’s Always a Way out of a Financial Spiral
This is a great read for you, young man. This is The Ramsey Show.
The Ramsey Show
There’s Always a Way out of a Financial Spiral
Welcome back to The Ramsey Show. I'm Ken Coleman. Jade Warshaw is alongside. 888-825-5225 is the phone number. The Ramsey Show annual listener survey is now live. We love to know your favorite parts of the show, what you like, what you don't, what you want to hear more about, whatever it is. We do want to know what you want from us. We're here for you. So there's two ways to participate in this.
The Ramsey Show
There’s Always a Way out of a Financial Spiral
Text the word SURVEY to 33789. That's 33789. Text the word SURVEY. to 33789. Or you can go to RamseySolutions.com slash survey, RamseySolutions.com slash survey, or we've got a link in the show notes. If you sign up to take the survey, you'll be entered to win a $500 gift card. That is our appreciation to you. All right, to the phones we go. Michaela is joining us now in Salt Lake City, Utah.
The Ramsey Show
There’s Always a Way out of a Financial Spiral
I love that you dropped. I love the gamut. High blood pressure to gout. I mean, you covered it all.
The Ramsey Show
There’s Always a Way out of a Financial Spiral
No, you feel a lot. Whatever you feel, it's a lot.
The Ramsey Show
There’s Always a Way out of a Financial Spiral
I agree with you. But let me ask you this because you're the queen of cutting costs and you eat as clean as anybody that I know.
The Ramsey Show
There’s Always a Way out of a Financial Spiral
you know, needy or... Well, remember, you don't need to be involved in this. This is not your deal. Your husband, now, if you've got to give him a pep talk and fire him up and let him borrow some of your backbone, that's one thing.
The Ramsey Show
There’s Always a Way out of a Financial Spiral
Because is it possible that the sister-in-law doesn't know what she's talking about?
The Ramsey Show
There’s Always a Way out of a Financial Spiral
I get to tell. This is my statement. Of the people that I know. I don't know anybody that eats cleaner than you.
The Ramsey Show
There’s Always a Way out of a Financial Spiral
No, you wouldn't. You would not be okay with your husband being the only sibling who didn't get some of this inheritance.
The Ramsey Show
There’s Always a Way out of a Financial Spiral
Yeah, but I just want to call this out. I know you're going another angle.
The Ramsey Show
There’s Always a Way out of a Financial Spiral
I... I'm not saying you're wrong. I think she kind of admitted that I couldn't hear her. But Michaela, it's very natural for you to feel this way because your husband feels, though, he might be wronged. And when your husband or spouse, this goes both ways, gets wronged, We the spouse. We're on their side. We just really get affected. So all of this is very normal. Glad you called us.
The Ramsey Show
There’s Always a Way out of a Financial Spiral
We've already told you what we think, but your husband needs to sit with dad and soon and just ask questions. This is what my wife was told. Is this true? He gets to the bottom of it and then you guys will have to deal with whatever that is. But make no mistake about it. Her comment about the younger sibling and what they have.
The Ramsey Show
There’s Always a Way out of a Financial Spiral
It's telling, but it's also it's all coming from this one issue.
The Ramsey Show
There’s Always a Way out of a Financial Spiral
We could use it more than them. That's what this is.
The Ramsey Show
There’s Always a Way out of a Financial Spiral
Is it worth digging a little bit? First of all, she's fine on margin and percentage there.
The Ramsey Show
There’s Always a Way out of a Financial Spiral
And that's all I'm saying, Michaela. I want you to feel okay to be angry.
The Ramsey Show
There’s Always a Way out of a Financial Spiral
Because if this is true, you and your husband have every right to be angry.
The Ramsey Show
There’s Always a Way out of a Financial Spiral
I mean, he stuck to his guns. The grandfather did.
The Ramsey Show
There’s Always a Way out of a Financial Spiral
Yeah. Hey, cheers to her, by the way.
The Ramsey Show
There’s Always a Way out of a Financial Spiral
I don't know what Dave would say, but I'm not Dave. And I got a strong opinion on that. If the grandfather leaves the money to his wife, yes, he had explicit instructions, but at the end of the day, he left it to her.
The Ramsey Show
There’s Always a Way out of a Financial Spiral
I think she's right. But my point is, it's now her money.
The Ramsey Show
There’s Always a Way out of a Financial Spiral
She gets to decide what she's going to do.
The Ramsey Show
There’s Always a Way out of a Financial Spiral
Yeah. But in this case, and this is what I don't like for her, I don't like that sister-in-law dropped that.
The Ramsey Show
There’s Always a Way out of a Financial Spiral
On vacation. Yeah. do you think there was a little intent behind it is that what you're saying i don't know and i don't want to go that route because i don't think that's helpful to michaela what i am saying is i would immediately go into the father if i'm her husband and because we don't know if sister-in-law knows what's going on with the nine other siblings
The Ramsey Show
There’s Always a Way out of a Financial Spiral
Well, now that you say that, I have three kids.
The Ramsey Show
There’s Always a Way out of a Financial Spiral
And I remember telling Stacey, because we had three under the age of three, that's kind of happened quickly for us.
The Ramsey Show
There’s Always a Way out of a Financial Spiral
And I remember going, as they got older, going, boy, I'm glad we didn't have more than three. I don't understand how parents who have like six and seven and eight and nine, how do they do it? Now I can see maybe, maybe this happened. Maybe there's some money just sitting over there waiting to be collected.
The Ramsey Show
There’s Always a Way out of a Financial Spiral
All right. Good hour. Thanks for the call, Michaela. This is The Ramsey Show.
The Ramsey Show
There’s Always a Way out of a Financial Spiral
Welcome to the Ramsey Show, where we help you win in your life. We want you to win with your money. We want you to win in your professional life. We want you to win in your relationships. I'm Ken Coleman. Jade Warshaw is joining me. 888-825-5225. 888-825-5225 is the number. Let's start in Casper, Wyoming. Marissa is there. Marissa, how can we help today?
The Ramsey Show
There’s Always a Way out of a Financial Spiral
So here's the question I have. And Lauren, I'm asking a question on your behalf, if you'll allow. If you were going to sit at Lauren's table tonight and you were going to do an audit, where would you be looking to try to shave money on what is already a reasonable thing for healthy food? I'm not trying to get you to endorse anybody, but is it online?
The Ramsey Show
There’s Always a Way out of a Financial Spiral
And are you saying that, well, I agree with you, but are you saying that because of momentum?
The Ramsey Show
There’s Always a Way out of a Financial Spiral
What would you be looking at to help her so that she can kind of double down and go, all right, I got some Jade hacks here to maybe see if I can save a little bit. It doesn't sound like she might be able to.
The Ramsey Show
There’s Always a Way out of a Financial Spiral
I agree. But why did you choose keep it?
The Ramsey Show
There’s Always a Way out of a Financial Spiral
And that's where I'm leaning. Momentum is the deciding factor. With us both agreeing that either or, that's fine. But there's a momentum play there. And to your point, 10 grand in the grand scheme of things here.
The Ramsey Show
There’s Always a Way out of a Financial Spiral
All right, let's go to Jaden in Albany, New York, see if we can get a call in here. Jaden, how can we help?
The Ramsey Show
There’s Always a Way out of a Financial Spiral
Yeah. What, what are you estimating your hotel spend will be?
The Ramsey Show
There’s Always a Way out of a Financial Spiral
Yeah, I probably, if that's what I was looking at, you start running the numbers on $80 a night. So with the tow behind, normally we're not fans of RVs and things like that. But in this case, he's saving a lot of money. I feel like that's a good move. Unless I'm missing something, you start running the numbers on those four to six weeks.
The Ramsey Show
There’s Always a Way out of a Financial Spiral
If you run the average five weeks, that's seven nights, right? So you're looking at 35 nights times $80. And you're doing that multiple times? Yeah, I probably would do something like that.
The Ramsey Show
There’s Always a Way out of a Financial Spiral
So he's going to rack up some money pretty quick.
The Ramsey Show
There’s Always a Way out of a Financial Spiral
Well, a little $5,000 one that he pays in cash.
The Ramsey Show
There’s Always a Way out of a Financial Spiral
And it saves him thousands of dollars long term. Yeah.
The Ramsey Show
There’s Always a Way out of a Financial Spiral
Boy, staying in $80 a night hotels, I'd rather stay in something that I know. Yeah. You know what I'm saying? You seen an $80 a night hotel lately?
The Ramsey Show
There’s Always a Way out of a Financial Spiral
I'm not going. Got to get up those Lysol wipes. This is the Ramsey Show.
The Ramsey Show
There’s Always a Way out of a Financial Spiral
Welcome back to The Ramsey Show. I'm Ken Coleman. Jade Warshaw joins me. And we're here for you. 888-825-5225. The Ramsey Show question of the day is brought to you by WhyRefi. Student loan debt is a swamp. Thousands of people find it hard to escape from. So don't be another statistic in the student loan swamp for distressed private student loans. There's WhyRefi.
The Ramsey Show
There’s Always a Way out of a Financial Spiral
We trust WhyRefi because they help you with a low fixed interest rate you couldn't get anywhere else. to help you stick to your budget and get out of debt. Learn more at YRefi.com slash Ramsey. That's the letter Y-R-E-F-Y dot com slash Ramsey. It may not be available in all states.
The Ramsey Show
There’s Always a Way out of a Financial Spiral
When you're 16, you kind of got a wide open list. But you also have a lid, right?
The Ramsey Show
There’s Always a Way out of a Financial Spiral
You know, there's like certain things you're just not going to get. So that's everything from I'm bagging groceries or working at my grocery store. I am providing some type of specific services. Babysitting, right? That's a good one. I am pressure washing. I'm cleaning trash cans. I'm scooping dog doo-doo.
The Ramsey Show
There’s Always a Way out of a Financial Spiral
I remember years ago on the Ken Coleman Show, I shared a story of a 14-year-old who started a pooper scooper business in his neighborhood and bought himself a $14,000 boat.
The Ramsey Show
There’s Always a Way out of a Financial Spiral
Went around and said, hey, do you have dogs? If you do. I'll get it. And you're tired of scooping the poop. This is what I charge. I come by every week. And he just went door to door. And, you know, there's a combination there of moxie. And some people are like, I'm going to help this young man out.
The Ramsey Show
There’s Always a Way out of a Financial Spiral
I love my dogs. Let me tell you what I don't love. Pooping the scoop. Yeah. Pooping the pooper. What can a 16-year-old do? Anything that you can do. Do it at this point. And you've got a wide array of things, your hourly jobs, working for companies. Scholarships. Yeah, scholarships.
The Ramsey Show
There’s Always a Way out of a Financial Spiral
You know, I would just get after it and set a goal. Set a goal that's reachable, reach that goal, and then start upping that goal. In other words, you know, it could be intimidating for anybody, but certainly a 16-year-old to set a goal, I want to make $30,000. No, set a goal for I'm going to make $10,000 as quick as I possibly can. Get a little poster board out. Stack 500 there.
The Ramsey Show
There’s Always a Way out of a Financial Spiral
Yeah. And I think that's what I would tell. What would you add to that? Because you're very enterprising.
The Ramsey Show
There’s Always a Way out of a Financial Spiral
Yeah, love that. All right, let's go to Jerry now in Kansas City. Jerry, how can we help?
The Ramsey Show
There’s Always a Way out of a Financial Spiral
And do you have any debt at all, other than the house?
The Ramsey Show
There’s Always a Way out of a Financial Spiral
How many barbershops does one inspect in a given week?
The Ramsey Show
There’s Always a Way out of a Financial Spiral
Well, I'm going to turn you over to my colleague. She's got her retirement calculator handy, ready to go, and she can walk you through that. But one of the things I would just kind of put in your mind to think about after this call and over the next couple of days is how can you increase your income? At 57, I know you can, but at 57, I'd like to see you dramatically increase your income.
The Ramsey Show
There’s Always a Way out of a Financial Spiral
I really would. And what I mean by dramatically is I'd like to see you try to get it to six figures. Now, you may have to do that through two jobs, but I just think you've got this opportunity right now, have such low expenses, it sounds like to me. You have no debt. You almost have a paid-for house.
The Ramsey Show
There’s Always a Way out of a Financial Spiral
And that's just right now. I am really in favor of you. Jay's going to give you some real numbers, but I would circle a number, and I think Jay will help you at the end of this call. Have a number in your mind and go, if I earn this much and I put all that into retirement, I think you would be surprised what she comes up with. And with that, I pass the baton.
The Ramsey Show
There’s Always a Way out of a Financial Spiral
But I want him making more money because I think he's got a chance to really make up grounds.
The Ramsey Show
There’s Always a Way out of a Financial Spiral
Yeah, where's your biggest expense? What would you say is your biggest expense?
The Ramsey Show
There’s Always a Way out of a Financial Spiral
And the great news is, Jerry, you have such little expense, and it sounds like you're very frugal. So this is increasing your income. And here's the deal. A guy like you, that state job, I'll bet you, I know you have a lot of travel there. I would start thinking about transitioning out of that. But I know you probably love those state benefits, and you're probably counting on some of that. But
The Ramsey Show
There’s Always a Way out of a Financial Spiral
I would really look at that experience that you have, being an inspector, your detail guy. I just think kicking the tires to see what other career path, similar to that kind of work, but in the private sector would pay, and or some part-time work or contract work. Because if I could double my income and you were to put the doubling away, you're going to really be comfortable.
The Ramsey Show
There’s Always a Way out of a Financial Spiral
uh at one point you'd be able to invest beyond the 15 i agree and that's going to be a huge free because listen social security we don't know what's going to happen with that we already know in the next 10 years benefits could be significantly less so we don't want to depend on that yeah but you can do this jerry that the best is yet to be for you but i do think it's setting your eyes a little higher on income and invest in yourself and i think it'll be very very very stable all right quick break we'll be right back with more of the ramsey show
The Ramsey Show
There’s Always a Way out of a Financial Spiral
You got a little something in the throat there?
The Ramsey Show
There’s Always a Way out of a Financial Spiral
Welcome back to The Ramsey Show alongside Jade Warshaw. I'm Ken Coleman, 888-825-5225 is the phone number to jump in. We'd love to help you. Jade's going to lead out on any of your money questions, and I'll lead out on your income questions. We want to make more money so that we can actually do good things with it.
The Ramsey Show
There’s Always a Way out of a Financial Spiral
As we've said on this show for many, many, many years, your income is your greatest wealth-building tool, and I want to help you win at work so we're making more money. So call away, and we'll do our best to help out. Luke is going to start us off in Atlanta, Georgia. Luke, how can we help today?
The Ramsey Show
There’s Always a Way out of a Financial Spiral
We're doing well, Luke. What's going on?
The Ramsey Show
There’s Always a Way out of a Financial Spiral
But it doubled in that amount of time?
The Ramsey Show
There’s Always a Way out of a Financial Spiral
Cleared the throat? Let me clear my throat, she said. Come on, Kim Coleman. We're already getting it started. I know. We're going to have a lot of fun today, by the way. Just a sheer warning to you. We're going to have fun while we coach you up. Lauren starts it off in Knoxville, Tennessee. Lauren, how can we help?
The Ramsey Show
There’s Always a Way out of a Financial Spiral
But are you saying that Lauren can go back to that same budget? Lauren, this is why you called. I'm hearing Jade's okay with that number.
The Ramsey Show
There’s Always a Way out of a Financial Spiral
I want to lean in on something. You just said something I think is good. Luke, if your wife, if you could just snap your fingers based on her degree, what she's done in the past, what could she make ballpark? Be conservative. If she went back to work tomorrow, we had something sitting there waiting for her. What do you think she could make?
The Ramsey Show
There’s Always a Way out of a Financial Spiral
Bro, I'd have that conversation because let's say you put every bit of that take home to these student loans. You're paying this thing off a lot faster than you think.
The Ramsey Show
There’s Always a Way out of a Financial Spiral
grants help or whatever the only way we were getting through you know it's a racket is uh is uh you know doing it and then then you're like well that was a bad idea yeah you guys you guys are poster children for this racket the federal government uh soapbox warning federal government has turned itself into a bank It was never intended to be a bank.
The Ramsey Show
There’s Always a Way out of a Financial Spiral
The student loan program, make no mistake about it, is a bank for the government to make money off the backs of the people it is supposed to serve. And this couple is an example. So I'd get real aggressive, try to knock it out quickly, because this stuff, you just don't want it hanging around forever. And please, if you're listening to this, don't go get a student loan. This is The Ramsey Show.
The Ramsey Show
There’s Always a Way out of a Financial Spiral
Welcome back to The Ramsey Show. I'm Ken Coleman. Jade Warshaw is joining me. 888-825-5225 is the phone number to jump in. We'd love to have you join us. So every day we take calls on The Ramsey Show and we don't know what happens after we hang up the phone. Did they take our advice? Sometimes we go, maybe they shouldn't. You know, who knows? We don't always have great days, right?
The Ramsey Show
There’s Always a Way out of a Financial Spiral
But this is fun. The latest episode of 90 Day Money Makeover is now available on our YouTube channel. Episode 2 features Sean and is it Dara or Dara? Dara. Dara, who just cut their income in half after welcoming their new baby boy. And now Dara is working part-time. They're going to have to make other significant lifestyle changes to continue paying off debt.
The Ramsey Show
There’s Always a Way out of a Financial Spiral
The $10 a gallon milk from Farmer Roy.
The Ramsey Show
There’s Always a Way out of a Financial Spiral
But they don't have to do it on their own because... And my partner over here, Jade Warshaw, is walking alongside of them. This is so fun. This is kind of like your version of Extreme Home Makeover, huh? You're kind of getting in with folks, sitting down with them.
The Ramsey Show
There’s Always a Way out of a Financial Spiral
Ramsey Show YouTube channel. 90 Day Money Makeover is what you're looking for there. and this was really fun. So this will really inspire you. By the way, speaking of the Ramsey Network app, it's the only place to get the full episodes. That's three hours of the Ramsey show. That's the only place you can get all three hours.
The Ramsey Show
There’s Always a Way out of a Financial Spiral
Download it for free using the link in the show notes or searching Ramsey Network in your app store. If you're on radio, don't worry. After this segment, we continue our third hour. So again, the Ramsey Network app, only place to get all three hours of the Ramsey show. All right, let's get to Mianca in Washington, D.C. Mianca, how can we help?
The Ramsey Show
There’s Always a Way out of a Financial Spiral
You guys have worked hard. You guys have worked hard, Lauren, to have this margin to then eat for life. I like this. This is really fun. And I got to tell you, I'm telling Laura, I'm telling you, I'm telling the entire audience.
The Ramsey Show
There’s Always a Way out of a Financial Spiral
Guess what I signed up me and Stacy for in February? Wall Pilates. A sourdough class.
The Ramsey Show
There’s Always a Way out of a Financial Spiral
I'm going to go learn how to make sourdough and I get to come home with the mother. Is that what they call it?
The Ramsey Show
There’s Always a Way out of a Financial Spiral
Well, two mothers. Come home with two mothers. Come on.
The Ramsey Show
There’s Always a Way out of a Financial Spiral
So you and Sam got to come over. Guess what I'm going to make for you guys?
The Ramsey Show
There’s Always a Way out of a Financial Spiral
Thanks for the call, Bianca. We're cheering for you. This is The Ramsey Show.
The Ramsey Show
There’s Always a Way out of a Financial Spiral
I'm going to make it on my big Kamado Joe for you.
The Ramsey Show
There’s Always a Way out of a Financial Spiral
No. But I'll tell you about it. All right. Quick break. We're just getting started. We're having a blast. We're going to help you out. That's probably one of my favorite calls that I've had in a while on the show. Really interesting. Don't move. We'll be right back. This is The Ramsey Show.
The Ramsey Show
There’s Always a Way out of a Financial Spiral
Welcome back to The Ramsey Show. Thrilled to have you with us alongside my friend Jay Borshaw and Ken Coleman. And if you're ready, you're finally ready. Some of you have been listening for a long time, some of you for a little bit, some of you brand new. Welcome to all. But if you're ready to finally make change in 2025, this is the year. You said, all right, we're making changes. This is a must.
The Ramsey Show
There’s Always a Way out of a Financial Spiral
January 23rd, we've got our free live stream, Take Control of Your Money. hosted by Dave Ramsey and my friend Jade Warshaw. Jade, I feel like I shouldn't talk about you when you're right here. You guys were meeting. I walked by the other day and I heard you guys having a meeting.
The Ramsey Show
There’s Always a Way out of a Financial Spiral
This thing is on the rails. It's ready to go. It's out of the oven.
The Ramsey Show
There’s Always a Way out of a Financial Spiral
What's it going to be? January 23rd. Take control of your money. You and Dave got some fun cameos as well. Why should people come to this?
The Ramsey Show
There’s Always a Way out of a Financial Spiral
Now, they should be charging you fine folks for this, but they're not. Free. It's a free event. And this is really cool. When you sign up for this free event. You also are entered into our cash giveaway. That night, or at some point, five people who actually attend this free event, this live stream event, will win $4,000 each. That's a lot of money.
The Ramsey Show
There’s Always a Way out of a Financial Spiral
So you sign up at ramsaysolutions.com slash live stream, ramsaysolutions.com slash live stream, or you can also click in the show notes section. Uh, to go to this event. And I don't know why you wouldn't do this because for some of you want to kickstart your goals.
The Ramsey Show
There’s Always a Way out of a Financial Spiral
Coming to this event will do this. However, for large.
The Ramsey Show
There’s Always a Way out of a Financial Spiral
Well, if you're sliding it over there, maybe it's Dave's money. It's Dave's money. I'm just sliding it your way. It's a fun night out. Maybe try to squeeze in a budget weekend trip.
The Ramsey Show
There’s Always a Way out of a Financial Spiral
I mean, that's a pretty fun little trip.
The Ramsey Show
There’s Always a Way out of a Financial Spiral
Sierra's up in Atlanta, Georgia. Sierra, how can we help today?
The Ramsey Show
There’s Always a Way out of a Financial Spiral
Look, you called the right place. This is a great question. And I can't think of a better person to be sitting beside on this one because I'm in the middle here.
The Ramsey Show
There’s Always a Way out of a Financial Spiral
See, now, in this case, and I love your call out, Jade, but I think in this case, Sierra, I'm commending you and your hubs for putting the entire $18,000 towards the debt snowball because that in itself is a pain.
The Ramsey Show
There’s Always a Way out of a Financial Spiral
Like when someone gives you $18,000 and you go, whoo! And you got to go, oh, there it goes.
The Ramsey Show
There’s Always a Way out of a Financial Spiral
They'll feel it. And so you guys are on your way. This is a real blessing. I mean, Jade chose the right word there. This is such a kickstart to this. What will be left in your debt snowball once you apply the 18? Run those numbers.
The Ramsey Show
There’s Always a Way out of a Financial Spiral
I don't know where I'm at on this. What are you going to say? I'm going to lean on you.
The Ramsey Show
Life Happens—But Your Plan Doesn’t Have to Fall Apart
Better fix that or else the house is going to be a temporary solve.
The Ramsey Show
Life Happens—But Your Plan Doesn’t Have to Fall Apart
That's right. I heard her say after laying out all of the details to you financially, she said then our cost of living is so high. And here's what I think she was meaning. And this is tied to the house. The cost of living like everybody else we live around is too high. New York City. That's right.
The Ramsey Show
Life Happens—But Your Plan Doesn’t Have to Fall Apart
But this idea that I got to send my kids to the same school as everybody else and I got to have a car like everybody else, that's a cost of living sometimes that we manufacture because we're trying to keep up with everybody else.
The Ramsey Show
Life Happens—But Your Plan Doesn’t Have to Fall Apart
Very different. And that's what I'm hearing is the lifestyle.
The Ramsey Show
Life Happens—But Your Plan Doesn’t Have to Fall Apart
How long you been married, bro? Five years.
The Ramsey Show
Life Happens—But Your Plan Doesn’t Have to Fall Apart
No, we got that. You're scared to death. You're scared she's going to go spend all your money, Bubba. I got that.
The Ramsey Show
Life Happens—But Your Plan Doesn’t Have to Fall Apart
I got that. Did you have any money when you married her? Did you bring family money into the marriage? No. Okay. So I heard you say you've worked really hard over the last five years in your business. So you're self-employed. Is that right?
The Ramsey Show
Life Happens—But Your Plan Doesn’t Have to Fall Apart
Okay. What's making you that? Here's my question. How much is your income increased from day one of the marriage to today? How much has it increased? Sevenfold. Sevenfold. So you're making what now? $750,000. And so she's noticed that you've gotten more money, correct?
The Ramsey Show
Life Happens—But Your Plan Doesn’t Have to Fall Apart
Well, I don't know. What was your answer? My answer to... Does she know that you're making more money?
The Ramsey Show
Life Happens—But Your Plan Doesn’t Have to Fall Apart
All right. I just wanted to get to the bottom of that and make sure that I absolutely understood that.
The Ramsey Show
Life Happens—But Your Plan Doesn’t Have to Fall Apart
Yeah, I agree with everything Dave said, Damon. Here's what I would do if I were you. I would say to my wife, I have a massive fear problem. And because I have a fear problem, I'm a control freak. And don't make this about her. Don't make this at all about her spending because you've actually given her an allowance. And based on what you've told Dave and I, she's been fairly compliant.
The Ramsey Show
Life Happens—But Your Plan Doesn’t Have to Fall Apart
So this is a pretty good lady. She may spend her allowance in a frivolous way, but my goodness, bro. She ain't a spender. All $4. Yeah, so we know you've got her locked down tighter than a drum. So I would lead with I'm afraid. I'm a control freak because I'm afraid. I'm going to go sit with a therapist, and I'm going to dig at the bottom of this, but I've got to confess this.
The Ramsey Show
Life Happens—But Your Plan Doesn’t Have to Fall Apart
Let me ask you this. How much money is his child support payment? And if you had gotten that consistently, would that put you in a good place with your budget? Is it a surplus? In other words, you could just tell me, how much more money do you need to make? So what's that replacement number?
The Ramsey Show
Life Happens—But Your Plan Doesn’t Have to Fall Apart
This is on me, not on you, and what I'd like to do is apologize, one. Two, I'm going to go get healthy. Three, in the midst of all of that, we are going to do a budget together, and I'm going to bring you into everything. And for heaven's sakes, I'd start with giving her a bigger allowance, man.
The Ramsey Show
Life Happens—But Your Plan Doesn’t Have to Fall Apart
No, I know. I said third step is after they budget.
The Ramsey Show
Life Happens—But Your Plan Doesn’t Have to Fall Apart
Well, that's fair. That's right. Let me correct that because I'm not saying in that context, but she's got spending money, whatever that is. And in that budget, you need to loosen the reins some as she begins to build back trust because you are going to violate her trust when you tell her this is my point. So you're going to have to meet her in the middle, however you do that. That's fair.
The Ramsey Show
Life Happens—But Your Plan Doesn’t Have to Fall Apart
I don't mean an actual allowance.
The Ramsey Show
Life Happens—But Your Plan Doesn’t Have to Fall Apart
Today's question comes from Aaron in Delaware. I read recently that 88% of shares in the stock market are owned by three major companies, BlackRock, State Street, and Vanguard. Should this be concerning or affect how we invest? Well, I have to plead ignorance on the first part of that question. I don't know where you read that. I've not seen that. I don't know if it's true.
The Ramsey Show
Life Happens—But Your Plan Doesn’t Have to Fall Apart
I'll cede my time to the gentleman to my left. The gentleman from Tennessee. That's right. It should not be concerning because it doesn't concern me. Because they're not companies. That's right.
The Ramsey Show
Life Happens—But Your Plan Doesn’t Have to Fall Apart
It makes sense to me. Thank you for bailing me out. It's nice. Nice to have you to my left. No troubles. That's what I'm here for. Been doing it a while.
The Ramsey Show
Life Happens—But Your Plan Doesn’t Have to Fall Apart
So you haven't made this leap yet? I made the leap last week, actually. Walked away from the $350,000 job, gone. Yep. Okay.
The Ramsey Show
Life Happens—But Your Plan Doesn’t Have to Fall Apart
The same type of technology work just for yourself or something totally different?
The Ramsey Show
Life Happens—But Your Plan Doesn’t Have to Fall Apart
And what were you doing previously?
The Ramsey Show
Life Happens—But Your Plan Doesn’t Have to Fall Apart
Do you have six to 12 months of your income set aside in the CPA company bank account? Yes.
The Ramsey Show
Life Happens—But Your Plan Doesn’t Have to Fall Apart
Okay, well, now you just answered the biggest question I have for somebody in that situation is, do you have six to 12 months of your income set aside? That goes a long way, but that's a big leap.
The Ramsey Show
Life Happens—But Your Plan Doesn’t Have to Fall Apart
Yeah, it is. It's find the work you're wired to do, Student Edition, and here's the story. If you're a grandparent or a parent, a family friend, and you've got a graduate, whether it's high school or college in your life, imagine asking them this. If you could use what you do best to do work you love to produce a result that you cared about and make a really good living,
The Ramsey Show
Life Happens—But Your Plan Doesn’t Have to Fall Apart
Would that make you excited? The answer from every young person, quite frankly, every person in the world would be absolutely. And that's what this assessment and book do. It's a self-awareness test on those three key areas. What you're really good at doing, the work you enjoy doing, and the results that that work creates that lights you up. And then...
The Ramsey Show
Life Happens—But Your Plan Doesn’t Have to Fall Apart
We drive you to figure out where that work can be done in the giant world of work. And this is the awareness, Dave, and confidence that we're not teaching in schools. So it's truly the gift that keeps on giving for that person who's launching, whether that be into higher ed or trades or coming out of either the trade schools or college. So great, great, valuable gift there.
The Ramsey Show
Life Happens—But Your Plan Doesn’t Have to Fall Apart
So basically a live event, right?
The Ramsey Show
Life Happens—But Your Plan Doesn’t Have to Fall Apart
Handling logistics on live events.
The Ramsey Show
Life Happens—But Your Plan Doesn’t Have to Fall Apart
I hate to admit this, but I don't always eat right. I know I need to eat more fruits and veggies, but sometimes I just have to pound some chips because they taste so good. That's why I love my Field of Greens. It helps me eat healthy when I don't have much time. And each fruit and vegetable in Field of Greens was doctor selected for a specific health benefit.
The Ramsey Show
Life Happens—But Your Plan Doesn’t Have to Fall Apart
Heart, lungs, kidney, metabolism, even healthy weight. And folks, I ain't getting any younger. It's super easy to mix with water. And here is the great part of it. I thought it might taste like grass, but it tastes great. And only Field of Greens makes this promise. Your doctor will notice your improved health or your money back.
The Ramsey Show
Life Happens—But Your Plan Doesn’t Have to Fall Apart
So go to fieldofgreens.com slash Ramsey for 20% off your first order. That's fieldofgreens.com slash Ramsey to save 20% on your first order.
The Ramsey Show
Life Happens—But Your Plan Doesn’t Have to Fall Apart
Yeah. And I think you've been doing this for five years. And I understand the imposter syndrome that a lot of stay-at-home moms have. But you've been back in the world of work for five years. And I think it's time to raise your sights a little bit here. I agree with Dave. In the meantime, we need to be getting a second job. to try to bring in an additional $1,500, $2,000 a month.
The Ramsey Show
Life Happens—But Your Plan Doesn’t Have to Fall Apart
That'd be the target that I would be going after because that gives you some breathing room to knock this debt out. But I would also, while you're doing that, be looking at the world of work. And we're going to give you my book, Find the Work You're Wired to Do. It comes with the Get Clear Assessment.
The Ramsey Show
Life Happens—But Your Plan Doesn’t Have to Fall Apart
He's already homeless. Yeah, I was getting ready to say. What is your big concern? Is it taking care of yourself financially? Or him. Or him. She's worried about him. She doesn't think he can tie his shoes. It's what it sounds like. Yeah. What's the real thing for you? Is there some guilt here? What's going on?
The Ramsey Show
Life Happens—But Your Plan Doesn’t Have to Fall Apart
You want him to go away, but you don't want the consequences of the divorce. Bingo. You want him out, but you don't want to feel bad about yourself. Can't have both. You guys are not married. You're legally married, but you're not married.
The Ramsey Show
Life Happens—But Your Plan Doesn’t Have to Fall Apart
Please spend 15 to 20 minutes taking this and then read the book where I coach you how to take that information, what you're good at, what you enjoy doing and results you care about, turn it into more money. But we're going to give you that tool at the end of the call.
The Ramsey Show
Life Happens—But Your Plan Doesn’t Have to Fall Apart
But the point I'm trying to encourage you with is you have far more opportunity to make more than $50,000 than you probably realize. And awareness of what you can do and where you can do it is, I think, homework item number one to see your future and get your confidence up.
The Ramsey Show
Life Happens—But Your Plan Doesn’t Have to Fall Apart
And I have to. Literally going to have to. To your point, you laid out what she will bring in. So does she need an additional $1,500 a month, $2,000 a month, $2,500 a month? And unfortunately, at this age, she's going to be limited. There's no question about it. But she can get a pretty good hourly wage. She might be able to cash flow some skills. I'm doing pretty good. You are, yeah. I'm 64.
The Ramsey Show
Life Happens—But Your Plan Doesn’t Have to Fall Apart
Shut up. Yeah, but you've been doing this for a long time. She's not been working in the workplace for a long time, so she is limited in her role, but she better get after it pretty quick.
The Ramsey Show
Life Happens—But Your Plan Doesn’t Have to Fall Apart
Or reconcile with the dude in the trailer who's bankrolling her. That's a pretty interesting story.
The Ramsey Show
Life Happens—But Your Plan Doesn’t Have to Fall Apart
That's my point. He's willingly for five years living in the trailer and... Cousin Eddie out there in the backyard. Letting her handle the finances. It's like he's got his own treehouse.
The Ramsey Show
Life Happens—But Your Plan Doesn’t Have to Fall Apart
Oh, my God. Some mean poker games out there in that trailer.
The Ramsey Show
Life Happens—But Your Plan Doesn’t Have to Fall Apart
I'm curious to know how you accounted for an additional $100,000 in income during this time because this is really relevant to a lot of people who are feeling like, okay, can we do this? You all got out of this thing quick. How did you get the $100,000 increase?
The Ramsey Show
Life Happens—But Your Plan Doesn’t Have to Fall Apart
Yeah. You can see it. You can hear that. That was a lot of pain and suffering in a good way. In other words, like when you're working out in the gym, it is painful and there's some suffering. But on the other side of it, a real victory. And I think you can see it on them and you can hear it in that scream. So congratulations to a very intentional couple. They got a new lease on life.
The Ramsey Show
Life Happens—But Your Plan Doesn’t Have to Fall Apart
And I think while we're on this issue, we have to make sure that we understand there's a difference between the economy and what we're seeing on Wall Street. That's a speculative game. People are scared pulling their money out one day, then the next day. And that is very different than the health of the American economy. Exactly. What's happening on Wall Street is not the same.
The Ramsey Show
Life Happens—But Your Plan Doesn’t Have to Fall Apart
Make sure you understand the difference.
The Ramsey Show
Life Happens—But Your Plan Doesn’t Have to Fall Apart
To that end, Dave, I want to ask you, do you think it's worth her becoming that department of whoever they are in the Alabama state government?
The Ramsey Show
Life Happens—But Your Plan Doesn’t Have to Fall Apart
Yeah, I'm just listening. And Natalie, I'm not beating up on you. I would just say this. You strike me as a person who's exhausted because you've just been fighting the waves of life that you've created. And if you've ever been in a really choppy boat situation where you're just hanging on and trying not to fall over, that gets exhausting.
The Ramsey Show
Life Happens—But Your Plan Doesn’t Have to Fall Apart
And you're at that place, but I'm not sure you're fully exhausted enough. And I think Dave's right. I would reset with the house, but this will happen to you again if you guys don't get to a point of realizing that you've done this to yourself. You've created this problem yourself. So you guys got to fix whatever's going on inside of you that's making you long to make these dumb decisions.
The Ramsey Show
Make Decisions Based on Guidelines, Not Headlines
And to that end, Karen, we're trying to solve for you here. Could you make similar money just grooming for somebody else? just somebody else who's got a business and they're looking for a solid person like you, you're not going to flake on them. You've got the skill set. Can you make the same amount of money working for somebody else as a groomer?
The Ramsey Show
Make Decisions Based on Guidelines, Not Headlines
And what about 20 hours? Like, just work part-time. They need groomers. You're a dream for somebody.
The Ramsey Show
Make Decisions Based on Guidelines, Not Headlines
I'm trying to find one. I know, but Karen, listen. We want you to sell all this stuff, and you've got Social Security coming in, work 20, 30 hours, do whatever you can. But selling the RV and selling this van gets a whole lot of money.
The Ramsey Show
Make Decisions Based on Guidelines, Not Headlines
That's it. Rewind this whole deal.
The Ramsey Show
Make Decisions Based on Guidelines, Not Headlines
Do it. I'm sorry for the sound effects. No, it's great, actually. I like that. Really? Karen... Hit the rewind button and get out of this deal. Go work for a local groomer who is going to be thrilled to have a 66-year-old experienced, non-flaky, Gen Z groomer. And they're going to pay you well, and you get some breathing room. Am I right, George?
The Ramsey Show
Make Decisions Based on Guidelines, Not Headlines
about between 35 and 40 do it it's it's a it's a 24 okay where the hell am i gonna live rent somewhere within a over some old lady's garage because she needs some companionship and she wants somebody who can i'm telling you where there's a will there's a way what's your payment on the rv um 440 441
The Ramsey Show
Make Decisions Based on Guidelines, Not Headlines
I guarantee there's some golden girls in your community that would love to have a roommate. I mean, you've got to look. You've got to find it. You've got to happen to life, Karen. And we've been talking to a lady who life has been happening to her. You've got to flip the script here. We told you exactly what to do. This is doable. But you've got to do it. Change your life. This is The Ramsey Show.
The Ramsey Show
Make Decisions Based on Guidelines, Not Headlines
Welcome back to The Ramsey Show. Alongside George Camel, I'm Ken Coleman. The phone number to jump in is 888-825-5225. The Ramsey Show question of the day is brought to you by YREFI. With YREFI, you can take control of your defaulted private student loans with a plan that works with your monthly budget. Visit YREFI.com slash Ramsey. That's the letter Y-R-E-F-Y dot com slash Ramsey.
The Ramsey Show
Make Decisions Based on Guidelines, Not Headlines
It may not be available in all states.
The Ramsey Show
Make Decisions Based on Guidelines, Not Headlines
I'm not a fan of that parenting strategy. Just going to call that out. The baby needs to sleep in its own room.
The Ramsey Show
Make Decisions Based on Guidelines, Not Headlines
You've got to select. This is like trying to get your phone to work in your living room on the TV to show everybody the family videos. There we go. All right. Let's see if this works. Let's see if Dad can figure it out. Is it working, James?
The Ramsey Show
Make Decisions Based on Guidelines, Not Headlines
Here it comes. Booyah. There it is. Oh, how about that?
The Ramsey Show
Make Decisions Based on Guidelines, Not Headlines
I'll put my readers on. And you can go into play with the interest rate.
The Ramsey Show
Make Decisions Based on Guidelines, Not Headlines
That's right. By the way, I'm going to fully commit to the readers now on the air since you outed me. They look great. You outed me, so I'm going to go ahead. It's giving Clark Kent. Well, you know, it makes it a little easier to read, folks, because I'm very mature. This week's average 15-year fixed mortgage rate dropped to 5.79%. I wanted to mention that.
The Ramsey Show
Make Decisions Based on Guidelines, Not Headlines
Now, this is the lowest since October 2024. So if you're thinking about buying a home you love at a price you can afford, and it becomes very possible when you work with a Ramsey-trusted real estate agent. These are pros that are hand-picked to guide you.
The Ramsey Show
Make Decisions Based on Guidelines, Not Headlines
Find a local pro for free at ramsaysolutions.com slash agents, ramsaysolutions.com slash agents, or click the link in the description if you're listening or on podcast and watching on YouTube. The show notes is a treasure trove, as I like to say. Of all the information. But, you know, now's the time to move if you feel like you're ready to move.
The Ramsey Show
Make Decisions Based on Guidelines, Not Headlines
You can't guarantee that these rates are going to keep dropping.
The Ramsey Show
Make Decisions Based on Guidelines, Not Headlines
I'm stuck. And I hate that for people. Yeah, I do too. Let's go to Seattle, Washington, where John is waiting for us. John, how can we help?
The Ramsey Show
Make Decisions Based on Guidelines, Not Headlines
Yeah, but this is more than groceries. Yeah, that's what I'm saying.
The Ramsey Show
Make Decisions Based on Guidelines, Not Headlines
I mean, what are you contributing to this? You sound like you're pristine the way you've set this up, but I've got to believe that you've got some habits.
The Ramsey Show
Make Decisions Based on Guidelines, Not Headlines
Okay, so you thought it was coming out of the debit account, I mean, excuse me, your debit card or your bank account, and it was actually on a credit card. So was this malicious?
The Ramsey Show
Make Decisions Based on Guidelines, Not Headlines
You guys got to sit down. You called us for help. But bottom line, you said she's a big fan. So she's open to all this stuff. You guys get to sit down and track spending for 60 days so that you just have a really good idea about what's going on.
The Ramsey Show
Make Decisions Based on Guidelines, Not Headlines
You guys can do this, man. This is communication. I hate to keep simplifying this. And we're here on one side.
The Ramsey Show
Make Decisions Based on Guidelines, Not Headlines
Well, I know. Yeah, a little less running and a few more meetings. That's what we need to do. There we go. This guy, those running shoes aren't cheap. That's why I don't run, Ken. I save so much money. This guy's so much into running, he's got a coach that's coaching him how to run. I'm going to start racing against elementary school kids. That's my version. What are we doing, man?
The Ramsey Show
Make Decisions Based on Guidelines, Not Headlines
Tell you what, I'm not running. I'm sitting on this break. This is the Ramsey Show.
The Ramsey Show
Make Decisions Based on Guidelines, Not Headlines
Welcome to the Ramsey Show. I'm Ken Coleman. George Campbell is alongside. 888-825-5225 is the phone number. Isaiah is going to join us now in Grand Rapids, Michigan. Isaiah, how can we help?
The Ramsey Show
Make Decisions Based on Guidelines, Not Headlines
Tell me what's going on. Where are you guys getting your parts from, these medical supply parts, I'm assuming is what you're talking about.
The Ramsey Show
Make Decisions Based on Guidelines, Not Headlines
So hold on a second. Hold on, hold on. I just got to ask a few questions. So your company is importing medical supplies from Mexico, correct? Exactly. Okay. And all of them? or some of them of your inventory that you're offering, how much of the business is affected by imports from Mexico?
The Ramsey Show
Make Decisions Based on Guidelines, Not Headlines
Why are you losing it? You guys are just going to stop buying and selling those? No, we're going to get hit with the...
The Ramsey Show
Make Decisions Based on Guidelines, Not Headlines
All right. That helps. That's why I'm digging in. So you're talking about your profit margin is definitely going to get hit, but you're not necessarily losing business. No. Okay. And what is your leadership? Because here's the other part of this equation. It's how much of that cost are you guys going to pass along to your customers? You understand?
The Ramsey Show
Make Decisions Based on Guidelines, Not Headlines
That's why guys like me, free traders, I don't like tariffs, never going to like tariffs. So don't at me or send me hate email. I'm not going to read it, and I'm right. So we'll just leave it at that. Tariffs become taxes. It's just that simple.
The Ramsey Show
Make Decisions Based on Guidelines, Not Headlines
So are your leadership, are they talking about, hey, we think we're going to actually lose accounts because we would have to offset our increased costs by importing these parts from Mexico, and now they're more expensive due to the tariffs. And we can't offset that by passing along to our customers. So therefore, we feel like we're going to get really hit hard. What are they communicating?
The Ramsey Show
Make Decisions Based on Guidelines, Not Headlines
Because that will help George and I in answering your question. What's been communicated to you? Or are you just looking at the headlines?
The Ramsey Show
Make Decisions Based on Guidelines, Not Headlines
By the way, while I'm here, I'm just going to leave this here for all of you who want to be educated on things beyond just your personal money. This is why I don't like tariffs. You have fixed contracts, and this creates a problem.
The Ramsey Show
Make Decisions Based on Guidelines, Not Headlines
I know. Trade wars are never fun. Okay. I'll leave it at that. There's your geopolitics lesson for today. Okay. So, George, does this constitute a storm? No.
The Ramsey Show
Make Decisions Based on Guidelines, Not Headlines
I don't think it's going to be. I do think that, I do, I can't predict this, but I do think that the tariff situation is going to be settled at some point in the near future.
The Ramsey Show
Make Decisions Based on Guidelines, Not Headlines
Yeah, I would keep my ear to the ground. I'd keep my ear to the ground, Isaiah, on this. But how much debt do you guys have?
The Ramsey Show
Make Decisions Based on Guidelines, Not Headlines
I'd wait for a little more communication. I concur. I concur.
The Ramsey Show
Make Decisions Based on Guidelines, Not Headlines
You know what? I feel like we need to take a couple minutes here and talk about guidelines versus headlines. Ooh. Can we do that? I like where this is going. So here's what you're going to see in the headlines. You're going to see the stock market drops yesterday, almost 900 points. I haven't looked at it today. You're seeing the tariff news, right? Trump's not backing down. Canada's bowing up.
The Ramsey Show
Make Decisions Based on Guidelines, Not Headlines
Mexico's bowing up. Are they going to negotiate what's going on? China's getting involved. You're going to watch all these headlines. Now I'm seeing stuff, and I look at all the different news sites, by the way. I'm apolitical in my news gathering because I want to know what people are seeing. You're going to see headlines about, is a recession going to happen?
The Ramsey Show
Make Decisions Based on Guidelines, Not Headlines
You've got realities right now of stagflation is kind of hanging out. For those of you who didn't pay attention in the sixth grade, stagflation is where inflation goes up and the economy goes down into a recessionary state. That is real. So you've got all these things. If we're not careful, George, We get so focused on the headlines and we feel like, oh boy, I got to be nimble.
The Ramsey Show
Make Decisions Based on Guidelines, Not Headlines
What am I going to do? I got to get in front of this storm when it's not actually a storm. And then I want to say, we've got to be focused on the guidelines. The stuff that we teach makes you recession-proof. Yeah. You know?
The Ramsey Show
Make Decisions Based on Guidelines, Not Headlines
In a similar field, maybe have something lined up in case you got to jump ship. That's what I was thinking.
The Ramsey Show
Make Decisions Based on Guidelines, Not Headlines
I wouldn't pause the baby steps, but I would say, all right, let me look at what if worst case scenario happens, which by the way, based on what I could pull out of that situation, again, this is the negative side of tariffs that nobody wants to talk about if you're in love with one side of the aisle. You just, well, he said we're going to do it. Let's all do it. Woohoo.
The Ramsey Show
Make Decisions Based on Guidelines, Not Headlines
And it's like, whoa, hold on a second. This has real economic impact, and this is an example. So in that situation, you cannot control what the White House does, so we say you control what you do in your house. And so don't stop knocking out debt, but start looking for a fallback plan if for some reason you got laid off.
The Ramsey Show
Make Decisions Based on Guidelines, Not Headlines
And to tie a bow on all this, because I'm trying to inform you folks, this is why if you're going to do tariffs, you've got to deregulate, you've got to cut taxes for businesses, because the whole goal of this is to not be... reliant on foreign countries for imports. Let's make products in America, American-made products. I'm all for that. And you heard small businesses.
The Ramsey Show
Make Decisions Based on Guidelines, Not Headlines
That's the backbone of the economy right there. So there's your lesson from the headlines. Follow our guidelines. You'll be okay. This is The Ramsey Show.
The Ramsey Show
Make Decisions Based on Guidelines, Not Headlines
This is the Ramsey Show, where we help you win with your money, win in your profession, and win with your relationships. 888-825-5225 is the phone number. I'm Ken Coleman, thrilled to be joined by my pal, the well-groomed,
The Ramsey Show
Make Decisions Based on Guidelines, Not Headlines
george campbell it's hard to find hygienic but thank you well i was going to take people to that mental image but you did so i do find you to be very hygienic thank you you know a little known behind the scenes fact here before we get their first call george uh brushes his teeth and mouthwashes that's actually every show thank you i stay fresh for america so and the guy's got a real minty fresh breath coming at me when he when he throws a comment so i thought you ought to appreciate that
The Ramsey Show
Make Decisions Based on Guidelines, Not Headlines
You're breaking up on us, Nicole. You're not in the closet with that credit card, are you?
The Ramsey Show
Make Decisions Based on Guidelines, Not Headlines
This is The Ramsey Show, where America hangs out to have a conversation about your money, your profession, and your relationships. The phone number to jump in is 888-825-5225. I'm Ken Coleman, joined by my pal, the Natalie-attired George Camelazinger. Wow. All I could think of was, your profession is Ken's obsession. I think that's a good tagline. I like that. That's a great call.
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Make Decisions Based on Guidelines, Not Headlines
You're trying to cool down before you call mom, and maybe it's a boundary. You know what I love about this, Nicole, is that you have the discipline to get rid of it. And I feel what she's feeling. She's like, do I really want to have an unnecessary conversation? Because she shouldn't be having it in the first place.
The Ramsey Show
Make Decisions Based on Guidelines, Not Headlines
I think it's a text. I'm going to go with a text on this, Nicole. Okay. I think I'm feeling you, and I'm going, I don't want to talk to mom about this, but maybe a text. Hey, mom, listen, I don't need a credit card. Don't ever want credit cards. Don't do credit cards. I went ahead and closed it out, but just FYI, don't need one. Thanks, and just let it go. You know? Yes. Yes.
The Ramsey Show
Make Decisions Based on Guidelines, Not Headlines
It's just, I get you. You're going, I don't want to burn the calories trying to explain to mom all this stuff.
The Ramsey Show
Make Decisions Based on Guidelines, Not Headlines
I think she must have got a deal or something. Maybe she clicked on something. No. Really?
The Ramsey Show
Make Decisions Based on Guidelines, Not Headlines
I just want to get to the bottom of it. I know, but I think mom must have clicked on a deal or something. I don't know.
The Ramsey Show
Make Decisions Based on Guidelines, Not Headlines
It just feels like a weird thing. It is a weird deal, but I think she had proper motivations. She didn't get how you do it. So anyway, that's my two cents. I'd let it go. I'd do a text, and I wouldn't do a phone call on those kind of things. It's like trying to explain a way of living.
The Ramsey Show
Make Decisions Based on Guidelines, Not Headlines
To somebody who doesn't live the way you live. That's a lot of brain calories. It's a lot. It's a lot. As you would say, the juice ain't worth the squeeze. That's what I would say. I would say that. And it's true, by the way. Samantha's up in Syracuse, New York. Samantha, how can we help?
The Ramsey Show
Make Decisions Based on Guidelines, Not Headlines
See, George and I, we cannot even process how manly he is and how talented he is. I couldn't draw a house, let alone build one. That's impressive. I couldn't build a house with popsicle sticks. Couldn't do it.
The Ramsey Show
Make Decisions Based on Guidelines, Not Headlines
Hey, I just want to tell you, we got two minutes, and I know you have part one and part two.
The Ramsey Show
Make Decisions Based on Guidelines, Not Headlines
I agree. This is a tough conversation. Because... My guy went out and just got himself a new truck. A man and his truck will not soon be parted. So now he's got to say, what? Huh? And she's got to hold the line and he's got to agree or else this is going to be ugly. This is the Ramsey Show.
The Ramsey Show
Make Decisions Based on Guidelines, Not Headlines
Welcome back to The Ramsey Show. I'm Ken Coleman. George Campbell joins me this hour. The phone number is 888-825-5225. Let's go to Dylan, who's joining us in Tulsa, Oklahoma. Dylan, how can we help today?
The Ramsey Show
Make Decisions Based on Guidelines, Not Headlines
Uh-oh. Well, the good news is my co-host today is George Campbell. Oh, boy. He wrote an entire book about this. Be aware of the traps.
The Ramsey Show
Make Decisions Based on Guidelines, Not Headlines
There it is. His signature quote. What's going on? Why are you falling for these traps?
The Ramsey Show
Make Decisions Based on Guidelines, Not Headlines
So a 40-year-old man decides to take his mom to Boston for July 4th. I mean, I get it because I like history, but I mean, that's like, I mean, like, how are we taking out a loan for that? That's not like a big deal, like that big of a thing. You could have saved up for that. Am I right? Right. How much did you take out? $11,000. Goodness gracious. Would you sit in the front row of the Boston Pops?
The Ramsey Show
Make Decisions Based on Guidelines, Not Headlines
No. What were you doing for $11,000 in Boston for July 4th?
The Ramsey Show
Make Decisions Based on Guidelines, Not Headlines
that's yeah i don't know like you you actually drove to the payday lender and went yep this is it this is where i'm gonna get some money i think i know what it is dylan can i take a stab can i take a stab as what's going on because this is how you started the call you kind of started the call kind of going you're presenting as a guy who feels like he's unable to fight the temptation of these type of loans that's the way you present it is that a fair analysis
The Ramsey Show
Make Decisions Based on Guidelines, Not Headlines
Okay, great. So it feels like the reason, based on what evidence you've given us so far, is you just get this spontaneous hair, this idea of like, oh, I want to do this, or this would be fun, and you don't have the cash for it. And so you just decide, well, let's just go get some loans right now, and I'm going to go do this and figure it out later. It sounds like it's that simple.
The Ramsey Show
Make Decisions Based on Guidelines, Not Headlines
You can't control your impulses. Is that right, or am I wrong?
The Ramsey Show
Make Decisions Based on Guidelines, Not Headlines
Yes, they are. Dylan, did I just stump you there? No, I think you're right.
The Ramsey Show
Make Decisions Based on Guidelines, Not Headlines
I think you're profoundly sad about your life. That's what I think. Is there truth to that?
The Ramsey Show
Make Decisions Based on Guidelines, Not Headlines
Yeah. And Dylan, I just felt that. And I was willing to take a risk there. And I don't say that to shame you, but I think you need some therapy. I really do. I think you've got to get to the bottom. See, anytime somebody does something like this, it's only a manifestation of something else. It's the symptom. It's not the problem.
The Ramsey Show
Make Decisions Based on Guidelines, Not Headlines
And it just sounds like you just need something to medicate the sadness or an uneasiness, a lack of just satisfaction. And I think if you can reframe that with some help through a professional, I'd call better help. I really would. I mean, I'd start there. And it's affordable. It's convenient. And I'd start figuring out what's going on there because –
The Ramsey Show
Make Decisions Based on Guidelines, Not Headlines
A phone call with George and I isn't going to snap you out of this, if I can be completely honest with you, because the temptation is going to present itself tomorrow or the next week, and quite frankly, you're not going to be hearing George and I's voice.
The Ramsey Show
Make Decisions Based on Guidelines, Not Headlines
Yeah, Zachary, if I might, and I don't want you to feel attacked at all, but I just am getting a sense that there's a real reason why you haven't done it for your own cards yet. What is it? Because when you paused, I've just done this enough. I got the $10,000. What's going on? There's a reason.
The Ramsey Show
Make Decisions Based on Guidelines, Not Headlines
You need to get to the bottom of this thing and begin to see, oh, I've got some pain, and if I can get healing on that, all of a sudden I'm not tempted by this medication in the form of, these trips or whatever it is you're doing where you go get quick money to get a quick high, the quick high of life. And I think that's what's going on.
The Ramsey Show
Make Decisions Based on Guidelines, Not Headlines
I hope that encourages you, but I think that's what you need to be dealing with right now. George, I want to give you a thought.
The Ramsey Show
Make Decisions Based on Guidelines, Not Headlines
Yeah, I agree. And I got a weird feeling like the pup was agreeing with us. I do feel like that. Did you feel that? That was like the pup was in the background going, amen, amen. I think the dog is feeling the anxiety as well. These dogs, they can feel things. It's just a hunch, folks. I don't know if that's true, but I felt like he was really chiming in when we were dropping in the hot stuff.
The Ramsey Show
Make Decisions Based on Guidelines, Not Headlines
Welcome back to The Ramsey Show. I'm Ken Coleman. George Campbell joins me. 888-825-5225 is the number. Let's stay right here in our neck of the woods. Elijah joins us in Nashville. Elijah, how can we help?
The Ramsey Show
Make Decisions Based on Guidelines, Not Headlines
Oh, I'm so sorry. What do you mean you weren't able to keep up with the workflow?
The Ramsey Show
Make Decisions Based on Guidelines, Not Headlines
Hold on a second, because this will be material later. What do you mean? Were you a mail delivery? Were you a mailman? Yes, sir. I'm a mailman.
The Ramsey Show
Make Decisions Based on Guidelines, Not Headlines
And you just couldn't get mail delivered in the amount of time that they have allotted for you? Yes. Do you agree with this? Yes. And what is the reason for why you couldn't get the mail out in time?
The Ramsey Show
Make Decisions Based on Guidelines, Not Headlines
Well, and I got to ask another follow-up, George. And I'm not trying to pick, I'm trying to understand. When you say, I'm a slow individual...
The Ramsey Show
Make Decisions Based on Guidelines, Not Headlines
Okay, so let's own that. So let's own that. So when George asked you, you were like, I don't know. No, you know exactly why you haven't done it, and you haven't fully submitted to the idea of a budget, and actually every dollar being, that's why we call our budgeting app EveryDollar. You haven't submitted to that. Yes, I did download that. You need to download it. In fact, you know what?
The Ramsey Show
Make Decisions Based on Guidelines, Not Headlines
So you have some mental challenges? Is that what I'm hearing?
The Ramsey Show
Make Decisions Based on Guidelines, Not Headlines
But it's not a diagnosed disability? No.
The Ramsey Show
Make Decisions Based on Guidelines, Not Headlines
I get it. And I don't want to hover on that, but let me just say this really quickly. It is important as we go forward for you to dive into what's going on. You may just have some processing challenges, which is very, very, very, they're calling this neurodiverse now. So the point is at some point you want to get to the bottom of this so that you can realize your limitations and,
The Ramsey Show
Make Decisions Based on Guidelines, Not Headlines
and then we can get you into a better situation. But I know that's not the main reason you called. But it is probably relevant. So go ahead. What's your question?
The Ramsey Show
Make Decisions Based on Guidelines, Not Headlines
We'll do you one. What can we give him, George?
The Ramsey Show
Make Decisions Based on Guidelines, Not Headlines
I'm looking at them right now. I'm in the $5,000 range. And here's a Honda CR-V. It's a 2002. It's old, but it's only got 115,000 miles. Hey, it's got a lot of life left in it.
The Ramsey Show
Make Decisions Based on Guidelines, Not Headlines
That's a great deal, and it took me 30 seconds to pull this up.
The Ramsey Show
Make Decisions Based on Guidelines, Not Headlines
There you go. We're going to get you started.
The Ramsey Show
Make Decisions Based on Guidelines, Not Headlines
Christian, I am emailing you that car right now because it just so happens he's local and I don't want to say it over the... But I'm going to at least give him a start. This car right here, I've got the link. I'm sending it to Christian and he'll give it to you.
The Ramsey Show
Make Decisions Based on Guidelines, Not Headlines
Right, so we start thinking. You need to start thinking and start looking. So what is a position, based on your past experience or even what the –
The Ramsey Show
Make Decisions Based on Guidelines, Not Headlines
uh the mail service is telling you they're going to reassign you what is the position what kind of work is it and do you feel um that that's a good fit for you with some of your it doesn't put you in a place of limitation it puts you in a place of of of ability what is that role um
The Ramsey Show
Make Decisions Based on Guidelines, Not Headlines
Perfect. I think. What have you done in the past that has been something you've done well and you've shined in? Do you have anything? Mm-hmm.
The Ramsey Show
Make Decisions Based on Guidelines, Not Headlines
Did you shine in those roles? In other words, you'd got the job done. It wasn't something where you were struggling behind other people.
The Ramsey Show
Make Decisions Based on Guidelines, Not Headlines
You know what I'm thinking? I'm thinking your big box stores, your targets, your Walmarts, your grocery stores. Could you get into some type of, again, very repetitive process heavy. It's not fast. It's not, you don't have to be fast. You just got to get the job done. Be thinking about those things because all of those places need people they can depend on.
The Ramsey Show
Make Decisions Based on Guidelines, Not Headlines
And Elijah, you got, you got character, right? This has been established. Thank you. They said, man, you're a good guy. We want you back. We just need you in a different role. That speaks to your character. So get your chin up, number one. Number two, get your eyes up. Start looking for some of those fallback opportunities. And check out the link that Kristen's going to give you.
The Ramsey Show
Make Decisions Based on Guidelines, Not Headlines
We just got you a car that you can pay cash for, my man. And it's still got plenty. A Honda? 115,000 miles on it? You can drive that to 2050. And minimal mechanic work. You drove a Honda forever.
The Ramsey Show
Make Decisions Based on Guidelines, Not Headlines
Right there. That's an alley-oop. That's... It's as close as I'll get. Folks, they call that chemistry in the business. This is The Ramsey Show.
The Ramsey Show
Make Decisions Based on Guidelines, Not Headlines
And in that process, say, hey, babe, here's the deal. In me leading us now and doing this, we're not using credit cards. So if we don't have it budgeted for Mickey D's burritos and what do you call them? Hash browns? Hash browns, yeah. I almost said hush puppy. I got seafood on the mind. I think Long John Silver's. Babe, there is no wiggle room on this. Do you understand?
The Ramsey Show
Make Decisions Based on Guidelines, Not Headlines
Welcome back to The Ramsey Show. Thrilled to have you with us. Hey, have you heard about Dave's new book, Build a Business That You Love? I have. Have you? Have you heard about it? Decided to read it. You know what I like about it? He says it's the baby steps for building a business, for growing a business. He gives kind of the six stages of the business. Fantastic new book.
The Ramsey Show
Make Decisions Based on Guidelines, Not Headlines
And this is timely because we've got a new set of data that's come out, George, that says... 70% of Americans want to be self-employed, but only 6% are. Big gap. Big gap. The reason is because it's very hard. It's intimidating. So whether you're somebody who wants to own your own business one day, or you've launched, or you've been at it, and you just can't get to the next level. That's right.
The Ramsey Show
Make Decisions Based on Guidelines, Not Headlines
This is a great book for you. As I said, it's The Baby Steps for Running a Business. You can pre-order it now for $29.99, and you get over $350 worth of free bonus items, including... the Entree Leadership Hiring Playbook, the e-book, and the audio book. And this book is, again, on pre-order right now. You buy it right now and you get the best deal plus all the good stuff.
The Ramsey Show
Make Decisions Based on Guidelines, Not Headlines
RamseySolutions.com slash store. RamseySolutions.com slash store. And I got to say, Dave always has his picture on the cover of the books. That's kind of his thing. Yep. That's a good photo. I think it might be his best photo ever. He's got the smize going. Is that what it's called? I think.
The Ramsey Show
Make Decisions Based on Guidelines, Not Headlines
I feel pretty good about what I'm going to drop on you in this book. Exactly. A lot of confidence there. I like that. He's earned it. Yeah, and he looks as cool as the other side of the pillow. I think he's got a shacket on, which you and I, let's just call it out.
The Ramsey Show
Make Decisions Based on Guidelines, Not Headlines
He did. He made fun of us when we first started wearing shackets. I think I dropped the word on him. Which is a shirt jacket, if anyone's confused out there. And true story. And he made fun of me. You know, shacket. Three weeks later, what's he wearing? Shacket. A shacket. You know what happened? He made fun of us when we weren't around in front of Sharon, and Sharon validated it.
The Ramsey Show
Make Decisions Based on Guidelines, Not Headlines
Oh, I like Ken's jackets. I think so. I think it's exactly what happened. So we'll never know. I'll ask him next time he's in. Kara is up next in Casper, Wyoming. You ever been to Casper? Have not. Would love to visit. Me too. Kara, how can we help?
The Ramsey Show
Make Decisions Based on Guidelines, Not Headlines
Well, why don't you describe for George the starter, what the cost is, how big it is, and then what you consider the dream home and how much that is to get us started. Give us those descriptions. Okay.
The Ramsey Show
Make Decisions Based on Guidelines, Not Headlines
I'm not trying to control you. We're in this together. So if we budget $50 a month for... For McDonald's, that's it. And I don't know how far that'll get you.
The Ramsey Show
Make Decisions Based on Guidelines, Not Headlines
There we go. That's the honesty I'm looking for. That's what we wanted you to know. We just wanted you to, because a part of answering this question is for you to get to the mindset of going, that's what my dream is now, but in the grand scheme of things, a lot can change. How old are you and your husband?
The Ramsey Show
Make Decisions Based on Guidelines, Not Headlines
Well, time is ticking, Kara. Sweet girl. You are truly, truly a child, and I don't mean that in a mean way. I mean, like, compared to me. Now, Ken has boots older than you, and I know that for a fact. That's an absolute truth, by the way.
The Ramsey Show
Make Decisions Based on Guidelines, Not Headlines
There was some hesitation there. You didn't say that with confidence. Do you know why he's saying it's a year or two away?
The Ramsey Show
Make Decisions Based on Guidelines, Not Headlines
We don't know how you're going to get up that down payment with your income. We don't know. You've got to explain it to us. How are we going to sock that away?
The Ramsey Show
Make Decisions Based on Guidelines, Not Headlines
How much do you plan on putting down?
The Ramsey Show
Make Decisions Based on Guidelines, Not Headlines
Well, no, I knew you were going to say that. While we're in debt.
The Ramsey Show
Make Decisions Based on Guidelines, Not Headlines
Well, no, I'm just trying to teach a little bit. Here you come over the top of the wall. Sorry, I got all fired up. Go ahead, scream at them. You're not going to see the inside of a restaurant until when.
The Ramsey Show
Make Decisions Based on Guidelines, Not Headlines
Yes. And it gives you options. So the reason we like you getting the starter home is what George just laid out. Because here's the deal. Five, seven years from now, the dream home might be an $800,000 house with a nice pool. And you can get it.
The Ramsey Show
Make Decisions Based on Guidelines, Not Headlines
I'm going to jot that down. That's good. You should probably submit that to Christian Hallmark or whatever that is. But, Kara, are you with us on that? That's the smart play. It gives you momentum. Okay. It makes you become a great investor right out of the gate. You guys have no debt. And that home is going to appreciate. That's the point.
The Ramsey Show
Make Decisions Based on Guidelines, Not Headlines
But you've never been married before, right? Like, this is a whole new deal. You're only 21. So, you know. You guys are in incredible shape to even be doing this a year from now.
The Ramsey Show
Make Decisions Based on Guidelines, Not Headlines
And for all the reasons that that current house in the 400 range is a dream home, for all those reasons, most likely, it doesn't matter to the kids. They're so little. They don't even know. They'll look back on this first home and think it was huge. Oh, yeah. Do you remember that? I love that. Going back to your original house, and you're kind of like, this was like a matchbox. Oh, yeah.
The Ramsey Show
Make Decisions Based on Guidelines, Not Headlines
How did we live in this? And I remember as a kid thinking, this place is huge. Yeah.
The Ramsey Show
Make Decisions Based on Guidelines, Not Headlines
Yeah, we shared a bathroom with my mom and dad.
The Ramsey Show
Make Decisions Based on Guidelines, Not Headlines
Wow. All right. Well, good hour. Good times. Man, thanks to George Campbell. Sorry it got apocalyptic there, Ken. I just had to bring us home. It was just very heavenly. You were just writing some great stuff there. Thanks to James Childs and our fearless crew for keeping us on the air. Thank you, America, for listening. This is The Ramsey Show.
The Ramsey Show
Make Decisions Based on Guidelines, Not Headlines
I think so, too. Zachary, love that you just joined us a week ago. Hang on the line. We're going to get you taken care of with every dollar. You guys can do this. Love that you two want to work on it. Sounds like there's some harmony here early on, and that's all it takes to work. All right, real quick, before we go to the break, if you're going to cheat at McDonald's, what's the one item you get?
The Ramsey Show
Make Decisions Based on Guidelines, Not Headlines
I want to help you make more money. I'm the work expert, if you're new to the Ramsey world. And that's what they say anyway. I don't like actually calling myself an expert. But I'll tell you what I can do. I'm going to help you figure out how to make more money in your work. So that George can help you with the budget. What do you do with that money? Pay it off debt, investing.
The Ramsey Show
Make Decisions Based on Guidelines, Not Headlines
Welcome back to the Ramsey Show. Thrilled to have you with us, America. 888-825-5225 is the phone number. I'm Ken Coleman. George Campbell is alongside. Karen is up next in San Antonio, Texas. Karen, how can we help today?
The Ramsey Show
Make Decisions Based on Guidelines, Not Headlines
And how soon were you planning to pay that off when you just stared 48% and went, ah, no big deal? How quickly were you planning to pay that off? Those were your words.
The Ramsey Show
Make Decisions Based on Guidelines, Not Headlines
So you were okay with a 48% for a year?
The Ramsey Show
Make Decisions Based on Guidelines, Not Headlines
And that's the one-two punch today. And we also think we're kind of funny. We try. We try to make this show enjoyable when we're together. We're going to give you the same advice, but we're going to have a little fun. So if you don't like that, I'm sorry. There's nothing you can do about it. That's Ken's way of saying kick rocks and pound sand if you don't like that. That's exactly right.
The Ramsey Show
Make Decisions Based on Guidelines, Not Headlines
I'm trying to understand the desperation that led you to this. Yeah, is this for your business?
The Ramsey Show
Make Decisions Based on Guidelines, Not Headlines
And I've used a mobile groomer as well.
The Ramsey Show
Make Decisions Based on Guidelines, Not Headlines
Got it. But the only reason we're digging on this is we're trying to figure out how we help you get out of it. So the question is, was the $29,000 for like a van or some type of vehicle? Or was it just the equipment? Or was it just other stuff?
The Ramsey Show
Make Decisions Based on Guidelines, Not Headlines
So how, if we were to sell this, can you sustain yourself on just regular pet grooming? Or do you have to be mobile?
The Ramsey Show
Make Decisions Based on Guidelines, Not Headlines
Speaking of helping people, you ready to go? Let's go. Let's go to Zachary in Omaha, Nebraska. Zachary, how can we help today?
The Ramsey Show
The Key to Transformation Is Admitting You Have a Problem
So I'm going to go try to do my own thing on my own. And you realize how hard that is. And it's put you in a deep hole. I think what we're trying to tell you is that you can't take no for an answer. In other words, it's the restaurant, multiple restaurants, a bar. They said no. Fine. You pivot. You go to big box stores where they are hiring. You keep going.
The Ramsey Show
The Key to Transformation Is Admitting You Have a Problem
You don't accept, well, I didn't get it here. I didn't get it here, so I'm not going to get it anywhere else. There are jobs that you can get that do way better than unemployment, but you have to keep showing up and you can't just go in and apply. You've got to talk to everybody that you know on social media, in person. You find a job doing whatever it takes to get you on a bridge.
The Ramsey Show
The Key to Transformation Is Admitting You Have a Problem
So that you didn't have to rely on these credit cards. Now you've got to go get work just to dig out of this. And I mean like two or three jobs to dig out of this. Because Jade, as you said, this $60,000 is no joke. It's a lot of credit card debt.
The Ramsey Show
The Key to Transformation Is Admitting You Have a Problem
Anything at this point. Until the technology market opens up a little bit. And then what are some adjacent jobs that you're qualified for? Maybe it's different than what you've been doing. My point is you have to treat this like it's life or death because it is life or death for you financially right now. That's where you called us. You are in bad shape.
The Ramsey Show
The Key to Transformation Is Admitting You Have a Problem
But it's very fixable if you can begin to get some money coming in the door. You change your budget. I mean, every dollar. I don't know what you want to give her here. She needs some help. She needs some resources.
The Ramsey Show
The Key to Transformation Is Admitting You Have a Problem
Get after it, Kelly. Everything you got. You don't take no for an answer. A no is just not here. And just keep on moving forward. All right, quick break. We'll be right back. This is The Ramsey Show.
The Ramsey Show
The Key to Transformation Is Admitting You Have a Problem
Welcome back to The Ramsey Show alongside Jade Warshaw. I'm Ken Coleman. Glad you're with us. 888-825-5225. Hey, the best way to make the most of your money is by creating and then sticking to a monthly budget. That's why we created EveryDollar. We believe it is the best budgeting tool on the planet. Help you plan spending, track expenses, save for what matters most to you. And it's easy.
The Ramsey Show
The Key to Transformation Is Admitting You Have a Problem
You can download EveryDollar for free in the App Store or Google Play or click the link in our show notes if you're listening on YouTube or your favorite podcast platform. Now, our last call. Jade and I were talking during the break. I want to revisit this quickly because Jade got fired up.
The Ramsey Show
The Key to Transformation Is Admitting You Have a Problem
So let me ask a quick question, Eli, on this, because I love how vulnerable you're being. And I think you've nailed it. I think you've diagnosed what's going on, that you can't do this on your own. And so we're going to walk with you on this call.
The Ramsey Show
The Key to Transformation Is Admitting You Have a Problem
And, you know, listen, bottom line is, and love Kelly, want to help Kelly, but it is a difficult thing to lose one's job or to see an interruption. It just is. Psychologically, we've got to call that out. It's difficult. And so it can really throw us off.
The Ramsey Show
The Key to Transformation Is Admitting You Have a Problem
But there has got to be an awareness of that so that you develop a mindset that if you're in debt or you have been living paycheck to paycheck or both, which is usually the case, You can't allow that to keep you from continuing to bring in income.
The Ramsey Show
The Key to Transformation Is Admitting You Have a Problem
And it's almost like we had a whiteboard. If we had a whiteboard in the studio, I would have wheeled it in here. Oh, man. I would have given you a fresh marker.
The Ramsey Show
The Key to Transformation Is Admitting You Have a Problem
Come on. So I'm looking at your notes here. You jotted down five things that you think people need to do. Yeah. or why they need to get back to do any work. Set this up for us.
The Ramsey Show
The Key to Transformation Is Admitting You Have a Problem
This is the Ramsey Show, America. It's where we help you win with your money, win in your profession, and win with your relationships. Alongside the fabulous Jade Warshaw, I'm Ken Coleman. Phone number to jump in, 888-825-5225. 888-825-5225. You ready to roll? Let's rumble. Let's go. Eli is joining us in Dallas, Texas. Eli, how can we help?
The Ramsey Show
The Key to Transformation Is Admitting You Have a Problem
I would agree with this. Right?
The Ramsey Show
The Key to Transformation Is Admitting You Have a Problem
But before we dive in deeper, I'm just curious, if you'd be willing to share from your gut, what do you think is the emotion that's driving all these impulse purchases for you? What do you think it is? How would you describe it?
The Ramsey Show
The Key to Transformation Is Admitting You Have a Problem
You know what happens? You don't feel very psychologically safe. When you lose a job. So you need some emotional safety is what you're talking about here. I like that.
The Ramsey Show
The Key to Transformation Is Admitting You Have a Problem
No, you don't have to say the brand, but what kind of calls were you taking?
The Ramsey Show
The Key to Transformation Is Admitting You Have a Problem
And did you have like a little cheat sheet of the basics you could help with and then you handed them off to somebody else?
The Ramsey Show
The Key to Transformation Is Admitting You Have a Problem
Okay. On a scale of one to 10, how soul sucking was it?
The Ramsey Show
The Key to Transformation Is Admitting You Have a Problem
So my point is it was no, but that's you because you're mentally tough. I'm saying how rough was it?
The Ramsey Show
The Key to Transformation Is Admitting You Have a Problem
you know over 200 and some odd you're singing whitney houston covers yeah in a fabulous probably a nice suite with your hubs traveling all around the world and now all of a sudden you're on a you're that's not fun that's the point yeah i'm saying hello you sucked it up big time
The Ramsey Show
The Key to Transformation Is Admitting You Have a Problem
When you do that... That was a message version. I liked it. Yeah. It was a message version. It was really good.
The Ramsey Show
The Key to Transformation Is Admitting You Have a Problem
You need to get that typed up, printed out, and dare I say, oh, I just lost it. Thank you. You know where I was going. That needs to be a little, you just pull that chart out. Jade's five to be alive or something. That's really good, actually. Really good. All right. Let's get back to the phones.
The Ramsey Show
The Key to Transformation Is Admitting You Have a Problem
But by the way, real quick, I hope you listen to what she said because that is a fabulous pep talk for somebody who's in between jobs right now. I'm telling you, that right there is a mindset plan that she just gave you. You've got to keep your mind right.
The Ramsey Show
The Key to Transformation Is Admitting You Have a Problem
Because you're not going to get out of debt if your mind is destroyed. And it is very, very hard when you've lost steady work. We acknowledge that. All right, to Kristen we go in Lexington, Kentucky. Kristen, how can we help today?
The Ramsey Show
The Key to Transformation Is Admitting You Have a Problem
We're doing great. What's going on?
The Ramsey Show
The Key to Transformation Is Admitting You Have a Problem
Kristen, I love what we're doing here. I need a refrigerator magnet, Jade. I'll be the first person to buy it. Maybe that's my new business.
The Ramsey Show
The Key to Transformation Is Admitting You Have a Problem
By the way, I grew up in a magnet household. My mom had them and my grandmother had them next door. And so you just took me back, Kristen, to some serious nostalgia. How can we help you today?
The Ramsey Show
The Key to Transformation Is Admitting You Have a Problem
Stop. There it is. So now we're going to go deeper for a second. Okay. You said desire, but it's actually something else. What do you think it is based on the fact that you didn't have it when you were a kid and now you want it? What is the deeper emotion? It's deeper than desire. What's driving the desire to get stuff? What do you think?
The Ramsey Show
The Key to Transformation Is Admitting You Have a Problem
I appreciate that, but if you sold that house today, you're there.
The Ramsey Show
The Key to Transformation Is Admitting You Have a Problem
We will include it. We just won't tell him, okay?
The Ramsey Show
The Key to Transformation Is Admitting You Have a Problem
Not bad at all. Again, go to the Smart Investor Pro section on the website, ramsaysolutions.com. Make a couple of meetings and decide from there. This is The Ramsey Show.
The Ramsey Show
The Key to Transformation Is Admitting You Have a Problem
Yeah, you do. You just took us there. Go back to your childhood. What was your childhood like?
The Ramsey Show
The Key to Transformation Is Admitting You Have a Problem
Welcome back to The Ramsey Show. I'm Ken Coleman. Jade Warshaw is alongside. Phone number is 888-825-5225. Jade's going to coach you up on how to handle your money. I'm going to coach you up on how to make more money. So let's go. We're going to start off this segment with a question from our Ramsey Network app. This question is from Brody.
The Ramsey Show
The Key to Transformation Is Admitting You Have a Problem
He writes, I'm 27 years old and I bought a house about five years ago. I've put a lot of labor into fixing the house and it is worth a lot more than I had originally purchased it for. I just met with my financial advisor and he suggested the idea of taking out $150,000 HELOC on that equity and investing it into a mutual fund to earn more money from my house.
The Ramsey Show
The Key to Transformation Is Admitting You Have a Problem
Is that the right move or the wrong move for me? And I'm betting, Jay, that the financial advisor is selling him that product.
The Ramsey Show
The Key to Transformation Is Admitting You Have a Problem
Financial advisor's got himself a commission in his head.
The Ramsey Show
The Key to Transformation Is Admitting You Have a Problem
Oh, he did say mutual fund. No, he said mutual fund. He did. So essentially it's like the financial advisor is going, hey, let's put a big lump sum in your mutual fund.
The Ramsey Show
The Key to Transformation Is Admitting You Have a Problem
Big commission. And then he could say, well, you're fast forwarding this.
The Ramsey Show
The Key to Transformation Is Admitting You Have a Problem
There you go. All right, to the phones we go. Jeremiah is joining us now in San Antonio, Texas. Jeremiah, how can we help?
The Ramsey Show
The Key to Transformation Is Admitting You Have a Problem
Okay, 70K. And what is it worth a private sale right now? If you went on Kelley Blue Book, what would the value be?
The Ramsey Show
The Key to Transformation Is Admitting You Have a Problem
Yes. yes okay jade thirty three thousand dollars worth of cash no no three thousand dollars he's got cash he owes 33 i wish yeah yeah we do too uh that you had it so uh he's got a car that's worth 25 i'm being conservative here he's got three thousand in cash no other cash anywhere else uh no just i have retirement and no debt other than the truck
The Ramsey Show
The Key to Transformation Is Admitting You Have a Problem
Okay. I kind of would like to see him pay this thing off. It's not like, you know what I mean? There's a couple ways. I'd like to see him own this thing and pay it off. He's got no expenses in his life. Pay this sucker. I'm not against him selling it. You've got this funky face right now. I think he never should have got it. I 100% agree.
The Ramsey Show
The Key to Transformation Is Admitting You Have a Problem
He's living with mom. What do you think? I always tell people to sell it, but in this case, I think he can pay this thing off. He's got no other debt in his life. Now he's got a 2022 Dodge Ram truck, or he could go buy a beater. I mean, I think Jade's right. That's what I almost always say, sell the car.
The Ramsey Show
The Key to Transformation Is Admitting You Have a Problem
See, and let me clarify my position. I'm not saying, Jeremiah, over three years, pay it off. I'm saying, yeah, I know. I'm saying you pay it off in a year. But at this point, maybe it's better off if you don't think you can mentally do that, then I would sell it and I'd go get a $5,000 truck because I can find one online right now. I can find a $5,000 truck.
The Ramsey Show
The Key to Transformation Is Admitting You Have a Problem
But can I tell you something, Eli? You're free philosophically. You're not free emotionally. You're still that little boy who was afraid he was never going to get anything nice like all of his other friends. And so now you're an adult and you're afraid if you don't buy these things that you are that little boy who didn't have anything. And I'm telling you there's something there.
The Ramsey Show
The Key to Transformation Is Admitting You Have a Problem
Okay. Well, then 100%, I agree. No. Those are your two options.
The Ramsey Show
The Key to Transformation Is Admitting You Have a Problem
Pay it down, pay it off quickly, or get rid of it, and I think you need to get rid of it. Yeah. Go ahead and get it out of your life. You're going to sleep better, and you're going to learn a valuable lesson.
The Ramsey Show
The Key to Transformation Is Admitting You Have a Problem
And a $600 a month car payment.
The Ramsey Show
The Key to Transformation Is Admitting You Have a Problem
You know, and here's the deal. Let me tell you what's really going on, Jeremiah. You've never done a budget, have you?
The Ramsey Show
The Key to Transformation Is Admitting You Have a Problem
Okay. Have you used EveryDollar? Are you familiar with our budgeting app? I am not. Okay. Jade, tell the man why he needs to be using EveryDollar because this will help him tremendously. You're a prime candidate.
The Ramsey Show
The Key to Transformation Is Admitting You Have a Problem
It's going to help him save for that next truck that's maybe in the $14,000, $15,000 range. Jeremiah, that's the whole point is get this out of your life, then start budgeting, and then you can begin to see, okay, I'm still a young guy. I can save up and have a really nice truck in the near future. that doesn't have any negative emotion attached to it. Right? Yes, sir. That's the idea, my man.
The Ramsey Show
The Key to Transformation Is Admitting You Have a Problem
So every dollar, download it today. Start messing around with it. To learn this at 19. Oh, you're going to be. Jade, I don't think I'm speaking in hyperbole, but I think he's going to be way ahead. Life years. Way past most 19-year-olds. Just learning to go, I know where my money is.
The Ramsey Show
The Key to Transformation Is Admitting You Have a Problem
And not only do I know where it is, I'm controlling where it's going.
The Ramsey Show
The Key to Transformation Is Admitting You Have a Problem
It's huge. By the way, selling a car that you can't afford, it is the best way to get out of that deal and learn that lesson the hard way. It just kind of sticks with you forever. Always the best choice. Great hour, Jade Warshaw. This is The Ramsey Show.
The Ramsey Show
The Key to Transformation Is Admitting You Have a Problem
Now, again, I don't want to make the whole call about this, Jade, but I just felt like when somebody presents as – I can't do anything about this. I think that's right. By the way, if you ever had a friend who's an alcoholic or if you go through the 12 steps or you're familiar with the 12 steps, the key to transformation is to get to a point where you say, I can't do this on my own. I need help.
The Ramsey Show
The Key to Transformation Is Admitting You Have a Problem
Welcome to the Ramsey Show America, where we help you win with your money, win in your profession, and win in your relationships. 888-825-5225 is the phone number. 888-825-5225. Love for you to call in. And if you need to get coached up on handling your money, Jade Warshaw is here. If you need to get coached up on making more money, I'm here. I go by Ken. That's what I go by.
The Ramsey Show
The Key to Transformation Is Admitting You Have a Problem
I've been called far worse. But I go by Ken. Ken Coleman with you. And always fun to be with Jade. And we've got the energy here. We both just got a little bit of caffeine. Got the juice. We got the juice. We're ready to go. Lily in Milwaukee is where we're going next. Lily, how can we help today?
The Ramsey Show
The Key to Transformation Is Admitting You Have a Problem
How long did this go on before the second time that it's happened? How long did it go on for before you figured it out?
The Ramsey Show
The Key to Transformation Is Admitting You Have a Problem
So this is a giant mess. Uh, we could talk about this for, okay. And what's your question for us today?
The Ramsey Show
The Key to Transformation Is Admitting You Have a Problem
And he presented that way. And I think that's great. But I also wanted him to see when there's an impulse. The impulse is just the reaction, and you've got to dig deep and go, what is the underlying issue that is making it so easy for him to be talked into $2,100 headphones when he's broke? Absolutely. And that's real. And Eli, I'm not saying that to put shame on you.
The Ramsey Show
The Key to Transformation Is Admitting You Have a Problem
How, if that's true, then how is it that she just recently was able to get into the account and get 13,000 more dollars?
The Ramsey Show
The Key to Transformation Is Admitting You Have a Problem
Okay, so there's a lot coming at us. Sorry. No, it's okay. But to try to help you, what you just told us seems like the solution. What you just told us, she can't get access to this now, correct? Because of his age.
The Ramsey Show
The Key to Transformation Is Admitting You Have a Problem
All right, then, so you don't have anything to worry about.
The Ramsey Show
The Key to Transformation Is Admitting You Have a Problem
No, this is not worth it, Lily. She doesn't have any money. And the last thing you guys need to do is spend your money on a wild goose chase because that's what this is. This is already awful enough. So if that's your question for us, Jade and I are saying if we were in your shoes, we'd let it go. But I would make sure. Okay.
The Ramsey Show
The Key to Transformation Is Admitting You Have a Problem
that that your husband is on the phone with this account yeah and we're absolutely for certain that she cannot access the funds the second thing is i got to go back to the initial like He doesn't go anywhere near her with his debit card anymore.
The Ramsey Show
The Key to Transformation Is Admitting You Have a Problem
I don't know how he's laying his wallet around and she's just walking into this.
The Ramsey Show
The Key to Transformation Is Admitting You Have a Problem
Lily, this just needs to be a clear boundary here. This needs to be a clear boundary. We don't do anything with her anymore involving money. Period. Done. She needs to get healthy and she may have to hit rock bottom. It doesn't sound like she's there yet.
The Ramsey Show
The Key to Transformation Is Admitting You Have a Problem
I'm actually hoping to help you see something because I think you can recover from this, but not until you deal with the emotion that is driving the impulse.
The Ramsey Show
The Key to Transformation Is Admitting You Have a Problem
Where's little brother now?
The Ramsey Show
The Key to Transformation Is Admitting You Have a Problem
Okay. All right. Well, this is tough. We feel really bad for you. I'm glad you have figured it out. I don't think there's any recourse. I think you guys need a clear boundary here.
The Ramsey Show
The Key to Transformation Is Admitting You Have a Problem
Also, Lily, best we can do is give you a present. Hang on the line. We're going to give you every dollar because this happened because you guys largely didn't have any idea what was coming and going in your bank account. I'm not trying to pour insult on the injury here, but let's get control of our budget so that nothing like this ever happens again. Hang on the line. This is The Ramsey Show.
The Ramsey Show
The Key to Transformation Is Admitting You Have a Problem
Welcome back to the Ramsey Show alongside Jade Warshaw. I'm Ken Coleman. 888-825-5225 is the phone number. Let's go to Washington, D.C. Samuel's there. Samuel, how can we help?
The Ramsey Show
The Key to Transformation Is Admitting You Have a Problem
Okay, tell us where you are in school and how far along you are and what you're pursuing.
The Ramsey Show
The Key to Transformation Is Admitting You Have a Problem
And what is the reason for that?
The Ramsey Show
The Key to Transformation Is Admitting You Have a Problem
And what kind of work are you doing now?
The Ramsey Show
The Key to Transformation Is Admitting You Have a Problem
And is that the field you want to go into?
The Ramsey Show
The Key to Transformation Is Admitting You Have a Problem
Right. But if young Samuel, how old are you again?
The Ramsey Show
The Key to Transformation Is Admitting You Have a Problem
If young Samuel thinks about the future 20 years from now, and we're going ideal here, so I don't want you to be hung up on a lack of belief right now. I don't want you to feel insecure about your answer. I want you to go with what your heart's telling you. What does it look like right now? You can change this answer two minutes from now.
The Ramsey Show
The Key to Transformation Is Admitting You Have a Problem
What's 20 years down the road, a successful Samuel, and I run into you and you go, hey, 20 years ago I talked to you and Jay. Guess what I'm doing now. What would you tell me you're doing?
The Ramsey Show
The Key to Transformation Is Admitting You Have a Problem
Okay, I feel like I got a safe answer, and I feel like I got the real answer.
The Ramsey Show
The Key to Transformation Is Admitting You Have a Problem
Don't tell me that 20 years from now you're going to be excited to run into Jay and I and go, hey, I'm doing remote work in a field I enjoy.
The Ramsey Show
The Key to Transformation Is Admitting You Have a Problem
I know. I'm pushing him a little bit because he can handle it. Samuel, what is it that you really want to do?
The Ramsey Show
The Key to Transformation Is Admitting You Have a Problem
I, Jade wants to give you a big giant hug. Mama Jade is so touched, but Samuel, you want to do real estate. You want to be an entrepreneur. You want to be kind of on the move working for yourself. Is that the goal?
The Ramsey Show
The Key to Transformation Is Admitting You Have a Problem
Okay. So until you figure out what it is that this entrepreneurial adventure or two or three or four may be, then I think you ought to be working. I think you ought to be working because you don't need an associate's degree to be an entrepreneur. You don't have a very clear direction as of this time, which by the way, I'm not judging that at all.
The Ramsey Show
The Key to Transformation Is Admitting You Have a Problem
And so for me, I don't think you should be feeling any kind of negative emotion about taking this semester off. Now, if you figure out what you, you know, you start to get some more ideas. And by the way, I'm going to give you some tools. I'm going to give you my book, find the work you're wired to do. And it has the get clear assessment in it. It'll take you about 18 to 20 minutes to take.
The Ramsey Show
The Key to Transformation Is Admitting You Have a Problem
Will you do it? Yes, sir. Because it's going to give you a purpose statement. And it's basically going to go, I was created to use the top three talents, and it's going to go boom, boom, boom. It's got a detailed report on each of the three top talents.
The Ramsey Show
The Key to Transformation Is Admitting You Have a Problem
And then it's going to say, to do the work that I really enjoy doing, it's going to give you three passions, boom, boom, boom, and a detailed report on all three. To accomplish... My mission of, and it's going to give you one clear answer, which is a result that would get Samuel out of the bed every morning. Now, that's just a quick preview.
The Ramsey Show
The Key to Transformation Is Admitting You Have a Problem
But if you take it and you look at that purpose statement and you begin to lay it out over the world of work, and you begin to allow yourself to answer the question that I put you under the spot. I put you on the spot, I know, it was a little pressure. But if you continue to work through that same question,
The Ramsey Show
The Key to Transformation Is Admitting You Have a Problem
With that purpose statement in mind, I think at some point you're going to come to some conclusions on two or three ideas that would absolutely allow you to use what you do best, to do what you enjoy, to produce a result that you care about. Isn't that what you really want, Samuel?
The Ramsey Show
The Key to Transformation Is Admitting You Have a Problem
So here's the deal. I am all for 19 year olds working and making some money. Mama J. I know that's right. And taking his time and figuring out, cause he's not playing video games all day long. He's being productive. He's hustling. This kid's got a heart the size of the Atlantic ocean. Um, so Samuel, I would say pause.
The Ramsey Show
The Key to Transformation Is Admitting You Have a Problem
And then we jump back into school and here's why Jade, I want to give it to you to weigh in. Cause you need to listen to Jade. Um, If school, a degree, whether it be an associate's, a bachelor's, grad degree at all, Jade, if it is the only way to do what you want to do, I say do it. Yeah. If it is the best way to do what you want to do, I say do it. But absent of those two very clear descriptors,
The Ramsey Show
The Key to Transformation Is Admitting You Have a Problem
then I say stay away from it because you are wasting time and money. This idea that college is, it's so good for the young people to go find themselves.
The Ramsey Show
The Key to Transformation Is Admitting You Have a Problem
It's summer camp on steroids. You can go party on your own. Jade would say you.
The Ramsey Show
The Key to Transformation Is Admitting You Have a Problem
I mean, look, it's as simple as that. So Samuel, I hope that's what you need. Is that what you needed today? You didn't need anything from us, but I hope we answered your question. Yes, I really appreciate it. All right, my man, hang on the line. Kristen's going to get you a copy of the book, Find the Work You're Wired to Do, and it comes with the assessment, the Get Clear assessment.
The Ramsey Show
The Key to Transformation Is Admitting You Have a Problem
By the way, that little book is about a 45-minute read, Jade. It's me coaching people through their assessment results. We need it. I do believe passionately in that product, especially for young people. By the way, there is this massive cultural pressure
The Ramsey Show
The Key to Transformation Is Admitting You Have a Problem
to go right out of high school and get accepted by a really great school so that you make your parents and your principal and your teachers proud. And there's a lot of Samuels in this world who are a lot like Ken Coleman. And we were like, that thing I want to do doesn't need a degree. I'm a college dropout. Because I was working.
The Ramsey Show
The Key to Transformation Is Admitting You Have a Problem
I went to school to get a political science degree because I wanted to run the world. You know what I'm saying? Yeah, I know. No surprise there. And I got a taste of politics. I got to work on a campaign in the middle of my sophomore year, and I took a whole semester off, and I tasted battle, folks. Hey.
The Ramsey Show
The Key to Transformation Is Admitting You Have a Problem
And then I went back to school and was like, this is the desk job, and I've been in the foxhole, and I was never the same. And thankfully, my parents did not freak out. They weren't happy about it. What'd they do? They just kind of were like, okay, well, we'd like you to finish your degree. Yeah, yeah. Because another year and a half later, I dropped out to work on a Senate race.
The Ramsey Show
The Key to Transformation Is Admitting You Have a Problem
Then I went right to the gubernatorial race, and I found myself working for the governor of Virginia at 22. That's cool. So it wasn't like I was finding myself in Europe.
The Ramsey Show
The Key to Transformation Is Admitting You Have a Problem
And I got no problem with that either. Yeah. I'm a big fan of a gap year.
The Ramsey Show
The Key to Transformation Is Admitting You Have a Problem
Yeah, but you were a D1 athlete. You're far more higher achiever than me.
The Ramsey Show
The Key to Transformation Is Admitting You Have a Problem
I went into the field that I was going to school to get into the field for. I hope everybody understands that. I mean, I'm not saying that everybody drop out of school. No, we get you, Ken. But my goodness, why in the world would I finish the degree?
The Ramsey Show
The Key to Transformation Is Admitting You Have a Problem
People used to ask me all the time, are you going to go back and get your degree? I was like, no. For what? I got a fancy office.
The Ramsey Show
The Key to Transformation Is Admitting You Have a Problem
I'm wearing suits every day. You know what? I'm not going back to college for a political science degree.
The Ramsey Show
The Key to Transformation Is Admitting You Have a Problem
i want to do it to say i did it like it's just uh it's that important to you pay it cash yeah but i would say to them privately that's important to you i'm not going to knock your priorities i go you don't need it yeah yeah i'm just one of these guys that doesn't do anything that i don't need to do listen i get you why do i need a degree
The Ramsey Show
The Key to Transformation Is Admitting You Have a Problem
And tell people what you thought of Sam the first time you met him.
The Ramsey Show
The Key to Transformation Is Admitting You Have a Problem
My all-time favorite thing she says about he's become a good friend. One of these days I'm going to tell him, you're a snack. And he's going to probably punch me. But it'll be worth it.
The Ramsey Show
The Key to Transformation Is Admitting You Have a Problem
We love you, Sam. This is The Ramsey Show.
The Ramsey Show
The Key to Transformation Is Admitting You Have a Problem
Welcome back to The Ramsey Show. Thrilled to have you with us. Helping you win with your money, win in your profession, and win in your relationships is our goal. 888-825-5225 is the phone number to jump in. I'm Ken Coleman. Jade Warshaw joins me. Why refi? Refinances defaulted private student loans and builds a custom loan based on your ability to pay.
The Ramsey Show
The Key to Transformation Is Admitting You Have a Problem
Private student loans are different than federal student loans like Sally Mae's. So to learn more about this custom refinancing option and a lump sum payoff option you could qualify for after 24 months, go to yrefi.com slash Ramsey. That's the letter Y. R-E-F-Y dot com slash Ramsey. It may not be available in all states.
The Ramsey Show
The Key to Transformation Is Admitting You Have a Problem
Yeah, but I thought you set him up beautifully. Eli, Jade just nailed this. I mean, you have to replace the $2,100 headphones with what do you want your life to look like 20 years from now? that's, she's spot on. What do you want for your kids? And so all of a sudden you start to go, Ooh, I want that. And I really want that. You know, it's the trade-off. So how much debt do you have?
The Ramsey Show
The Key to Transformation Is Admitting You Have a Problem
All right. Oh, that's a good question. Yeah.
The Ramsey Show
The Key to Transformation Is Admitting You Have a Problem
That's right. Don't want to be house poor.
The Ramsey Show
The Key to Transformation Is Admitting You Have a Problem
That's like an old school. It came from the depths. It did. That's like an old school phrase.
The Ramsey Show
The Key to Transformation Is Admitting You Have a Problem
That's right. And the zip code. And the zip code. All these things. I mean, come on. And what you grew up in doesn't mean that that's what you're supposed to start in.
The Ramsey Show
The Key to Transformation Is Admitting You Have a Problem
Oh, come on, Ken. And I think that's the biggest thing.
The Ramsey Show
The Key to Transformation Is Admitting You Have a Problem
It's like, well, you grew up in a four-bedroom, three-car garage, and you think that that's what you're supposed to start with. And I'm like, you got to- I think a lot of people do think that. You're right. And it's like, wait a second. I mean, the first house Stacey and I started with, it's like a matchbox compared to what we live in now. I do know.
The Ramsey Show
The Key to Transformation Is Admitting You Have a Problem
And we thought it was massive and scared to death of it, by the way. It's $198,000.
The Ramsey Show
The Key to Transformation Is Admitting You Have a Problem
And I thought, and I thought, and by the way, I did it by the book, the down payment, the way Ramsey teaches it. but I thought I had mortgaged my life away because of the sheer price of the home.
The Ramsey Show
The Key to Transformation Is Admitting You Have a Problem
$198,000 back then. That was like, I thought I was going to die.
The Ramsey Show
The Key to Transformation Is Admitting You Have a Problem
Yeah. Even though we put a nice down payment on, it was over 20%, but it still felt like, what have I done? And so There's a responsibility there, which, by the way, makes me think. I want to just add one thing. I thought your answers were great. This is why we created what I think is one of the best resources we've ever created at Ramsey. And by the way, it's all free.
The Ramsey Show
The Key to Transformation Is Admitting You Have a Problem
It's called Ramsey's Real Estate Homebase. So anybody watching and listening right now, this is free. And it's absolutely chock full. It's a podcast on there. We've got a book on there. We've got a video series, how-to articles, start-to-finish guides on buying or selling anything real estate related. If you're kind of going... What do I do? Yes.
The Ramsey Show
The Key to Transformation Is Admitting You Have a Problem
And you trust us, go to ramseysolutions.com slash real estate. Let me say that again, ramseysolutions.com slash real estate. If you couldn't write it down, can't remember it, go to the show notes for today. It's there. Very important that you understand what all is involved here. So really good question.
The Ramsey Show
The Key to Transformation Is Admitting You Have a Problem
Well, the numbers have gone up. You're right about that. It is a higher level. Yeah.
The Ramsey Show
The Key to Transformation Is Admitting You Have a Problem
I thought that was extreme.
The Ramsey Show
The Key to Transformation Is Admitting You Have a Problem
Like you were living in a shoot.
The Ramsey Show
The Key to Transformation Is Admitting You Have a Problem
And here's the key. Actually, I'm really glad you brought that up because I think some people right now are still going 10 years before you throw shade at my friend. I want to bring this back to you because that 10 years of rent, I'm sitting here with you today and I'm going to take a guess that you don't feel like you pissed that money away.
The Ramsey Show
The Key to Transformation Is Admitting You Have a Problem
So what did the 10 years of rent, which some people right now are on TikTok, Instagram going, what?
The Ramsey Show
The Key to Transformation Is Admitting You Have a Problem
How did that 10 years of renting?
The Ramsey Show
The Key to Transformation Is Admitting You Have a Problem
And now here you are, homeowner.
The Ramsey Show
The Key to Transformation Is Admitting You Have a Problem
People think that that's wasting money, and in your case, it was actually the freedom and margin you needed to get out of debt.
The Ramsey Show
The Key to Transformation Is Admitting You Have a Problem
Craziest thing that happened that you're willing to share when you had another married couple roommates or most awkward?
The Ramsey Show
The Key to Transformation Is Admitting You Have a Problem
Okay. So where did the $2,100 headphones go? Did they go on a credit card?
The Ramsey Show
The Key to Transformation Is Admitting You Have a Problem
Yeah. And that has to be really alarming.
The Ramsey Show
The Key to Transformation Is Admitting You Have a Problem
I'll bet. No pun intended. Wow. Yeah, I was alarmed. I think that should have been a reality show. I hate that we missed that.
The Ramsey Show
The Key to Transformation Is Admitting You Have a Problem
From a distance, little Bette Midler. From a distance. There it is. I knew she would do it, folks. That's all I got to do is tee it up and she can sing it.
The Ramsey Show
The Key to Transformation Is Admitting You Have a Problem
Lady in the lobby is giving you a heart sign. She wants a little Bette Midler during the break.
The Ramsey Show
The Key to Transformation Is Admitting You Have a Problem
That's how you go out to break right there, folks. I'll listen as she sings along during the commercial break. We'll be back before you know it. This is The Ramsey Show.
The Ramsey Show
The Key to Transformation Is Admitting You Have a Problem
Welcome back to The Ramsey Show. Alongside Jade Warshaw, I'm Ken Coleman. So glad you're with us today as we help you win with your money, win in your profession, and win with your relationships. 888-825-5225. Jade, I'm a little excited about it, and I don't naturally celebrate these things like I should. Super excited.
The Ramsey Show
The Key to Transformation Is Admitting You Have a Problem
Been dreaming about a show concept for a long time, and we've been working on it as a team. The team's done a great job. It's called Front Row Seat with Ken Coleman. Woo! And people ask, has it replaced the Ken Coleman Show? Yes, because it is a very different format.
The Ramsey Show
The Key to Transformation Is Admitting You Have a Problem
Imagine you're sitting in on a deep dive conversation with somebody who's a thought leader, someone who has done something extraordinary in their lives. They are a man or a woman of success. And you get to be a part of the audience. And you're sitting around with us asking a question. Well, that is the format. Live format.
The Ramsey Show
The Key to Transformation Is Admitting You Have a Problem
We record it, and then also we have a virtual format where people can Zoom in, if you will. So we're bringing the audience to the front row seat. That's the concept. It's on YouTube now or wherever you get your podcasts. A new episode comes out every Tuesday morning. If you want to get better personally, move up professionally, and lead effectively, those are the conversations. Wow.
The Ramsey Show
The Key to Transformation Is Admitting You Have a Problem
Yeah, some really fun guests. And the way it goes down is we're selecting people within those categories. So for instance, experts can help out in the area of personal growth. So that would be an expert maybe on sleep or nutrition or exercise. Wow, okay. Right. And so we're mixing it up. Right. And then, of course, we have people that are professional gurus who can help you on certain soft skills.
The Ramsey Show
The Key to Transformation Is Admitting You Have a Problem
Like we just had Charles Duhigg. We just recorded that. It'll come out soon. Pulitzer Prize winning author of the book Super Communicators.
The Ramsey Show
The Key to Transformation Is Admitting You Have a Problem
So we're talking about the three types of conversation. So how do we use those types of conversation to win in our profession, but also win at home?
The Ramsey Show
The Key to Transformation Is Admitting You Have a Problem
You can sell anything. I should have said, can you sell those and get a good chunk or do they devalue quickly?
The Ramsey Show
The Key to Transformation Is Admitting You Have a Problem
And then, of course, leadership experts. So it's very intentional between those three buckets of content, if that makes sense. Well done, Ken. Thank you. I'm really excited about it. It's beautiful, by the way. If you want to check it out on YouTube, the team did a great job with the set. Looks really, really fun. So the Front Row Seat is the name of the show, Front Row Seat with Ken Coleman.
The Ramsey Show
The Key to Transformation Is Admitting You Have a Problem
You can get it on YouTube or wherever you get your podcasts. Let's go to Brianna, who's joining us in Dallas, Texas. Brianna, how can we help today?
The Ramsey Show
The Key to Transformation Is Admitting You Have a Problem
What has created that scenario where you don't believe you have any other options? Give us some details.
The Ramsey Show
The Key to Transformation Is Admitting You Have a Problem
It's sort of selling all the stuff you've bought that you can still sell.
The Ramsey Show
The Key to Transformation Is Admitting You Have a Problem
Okay. What's your combined income?
The Ramsey Show
The Key to Transformation Is Admitting You Have a Problem
Well, sweetheart, if you sell the house, that's not going to give you guys any much money at all.
The Ramsey Show
The Key to Transformation Is Admitting You Have a Problem
Right, but after you pay your realtor, there's very little of this that is going to actually solve this problem.
The Ramsey Show
The Key to Transformation Is Admitting You Have a Problem
Yeah, not much difference. Not much difference.
The Ramsey Show
The Key to Transformation Is Admitting You Have a Problem
Okay. I would consider moving, Jade, in this situation because that's a long way to commute, number one.
The Ramsey Show
The Key to Transformation Is Admitting You Have a Problem
Y'all need to stop borrowing money.
The Ramsey Show
The Key to Transformation Is Admitting You Have a Problem
Like you got in this mess because y'all are trying to do too much and you don't have enough money for it. So if you can't afford every dollar to get a budget, you better get it out on paper.
The Ramsey Show
The Key to Transformation Is Admitting You Have a Problem
Good stuff. Thanks for the call, Eli. This is The Ramsey Show.
The Ramsey Show
The Key to Transformation Is Admitting You Have a Problem
The Ramsey Show continues. I'm Ken Coleman. Jade Warshaw is with me. 888-825-5225 is the phone number. 888-825-5225. Syracuse, New York is where we go next. Kelly is there. Kelly, how can we help?
The Ramsey Show
The Key to Transformation Is Admitting You Have a Problem
And also tell us how much you were making.
The Ramsey Show
The Key to Transformation Is Admitting You Have a Problem
Okay. Real quick, how much were you making beforehand?
The Ramsey Show
The Key to Transformation Is Admitting You Have a Problem
That's right. So, Kelly, I'm not piling on, but I'm going to jump in here. How many times did you apply for a waitressing position?
The Ramsey Show
The Key to Transformation Is Admitting You Have a Problem
How many times did I apply for... A waitressing position at a restaurant. I know you didn't get the one. How many different restaurants did you apply to?
The Ramsey Show
The Key to Transformation Is Admitting You Have a Problem
Right. So, here's the deal. I mean, maybe there's a... So, here... I was like, what was that? I don't know. I opened my computer to type something in. Here's the deal. There could be a myriad of reasons as to why they hired someone else for those roles. But I think what happened was that you were like, well, this is just a bunch of no's and I can't get hired.
The Ramsey Show
If You Want To Be a Millionaire, Do What Millionaires Do
He's going to have to get comfortable disappointing some people. Or really, to be honest with you, he's got to be okay with what he perceives as disappointment when in all reality, it's just not there. That's what I hear. I hear a guy that's just overextended, and he's just lost all reason because he's trying to...
The Ramsey Show
If You Want To Be a Millionaire, Do What Millionaires Do
emotionally feel good about himself make sure everybody else feels good about him and he gets to this point where he calls and says is it okay to take a thousand dollars out on a credit card just to pay for this trip because i feel like i gotta make my mom and dad happy because they made me happy i heard that throughout the entire description and i feel bad for him i really do but it's not even it's not even on the it's not even an issue it really isn't so that's not it's all in his head so guys one of the things you have to do in this regard and is um
The Ramsey Show
If You Want To Be a Millionaire, Do What Millionaires Do
Today's Ramsey Network app question is, of course, from Adam. He says, could you please explain how to know if I can be self-insured? I'm 47, married with two daughters in their teens, and I have $250,000 in investments. I believe my current life insurance policy, which I bought from a relative, is overpriced, but I'm afraid to change brokers. At what point can I pull the plug on having insurance?
The Ramsey Show
If You Want To Be a Millionaire, Do What Millionaires Do
You know, this isn't scary. I know it seems scary, but this is, again, kind of the law of the unknown, the thing we don't know anything about. We want to leave it alone because it seems scary or time-consuming. And Colin Zander, you're going to find out how seamless this process is to get properly insured. There's nothing to be scared about for switching.
The Ramsey Show
If You Want To Be a Millionaire, Do What Millionaires Do
Well, you know what? Same deal there. What are you afraid of? Yeah. I mean, if you want to pay extra money just because you don't want to deal with disappointing a family member, that's just not the way I want to live. I'd rather save money.
The Ramsey Show
If You Want To Be a Millionaire, Do What Millionaires Do
It's just powerful, the deduction that you just gave folks. I mean, you've got to take the emotion out of this stuff. I'm afraid. What are you afraid of? Is there something to be afraid of? Or is it just a fake monster under the bed? You've got to look under the bed. And that's the idea here. And I think there's so much power in what you know and what you don't know.
The Ramsey Show
If You Want To Be a Millionaire, Do What Millionaires Do
Give us your top couple of reasons why you didn't want to do it.
The Ramsey Show
If You Want To Be a Millionaire, Do What Millionaires Do
How would it, how would it change? Is he, how would it change? Have you guys talked about the details of what it would look like if he came in?
The Ramsey Show
If You Want To Be a Millionaire, Do What Millionaires Do
You just nailed it. I cannot tell you how many times I've taken calls on the Ken Coleman show like this where someone feels like they are less than if they don't take...
The Ramsey Show
If You Want To Be a Millionaire, Do What Millionaires Do
some opportunity that in their heart they don't want to take but because it's an opportunity what happens is the brain feels great there's an endorphin release from being wanted right or or from being approached on this and so you feel like oh common sense is i'd be an idiot to walk away from this and in all reality you got to trust your gut you got to trust your principles and your values and you led tyler with principles and values i think you got to listen to those things those are
The Ramsey Show
If You Want To Be a Millionaire, Do What Millionaires Do
bedrock things that keep us uh grounded and keep us from making big big mistakes and i think dave you nailed i think you it there's something weird right about the psyche when when somebody wants you to be a part of them or they come to you with an attractive offer i want you in this deal
The Ramsey Show
If You Want To Be a Millionaire, Do What Millionaires Do
I thought you were going to tell me people pitched you on having your own rice brand or beans. Oh, that too. I'm sure that's happening.
The Ramsey Show
If You Want To Be a Millionaire, Do What Millionaires Do
Yeah, I would agree with that. I think the 55 is a little too aggressive. So now, you know, double down, do your numbers, crunch, and go, okay, what is it really going to look like? And again, the data, Dave, just to back up what you said, the data is overwhelming for people who want to research it on what happens when you truly stop working. Now, financial retirement
The Ramsey Show
If You Want To Be a Millionaire, Do What Millionaires Do
in my mind, is different than just straight professional. I'm not doing anything any longer. I think that it's not good for the body, and it's definitely not good for the soul. Not good for the mind.
The Ramsey Show
If You Want To Be a Millionaire, Do What Millionaires Do
Today's question comes from Nikki in Kansas. My husband has been at his current job for over five years. He has received yearly inflationary raises. A new manager position was recently created and my husband considered applying for it. But before he could, it was given to another employee that has no previous experience in the role.
The Ramsey Show
If You Want To Be a Millionaire, Do What Millionaires Do
This new manager now repeatedly asked my husband for advice and wants him to work extra hours and to cover his lack of competence. I think it's time for him to find a new job, but he wants to make it work here. His annual review is coming up should he mention the situation and bring up needing increased compensation or a path to growth.
The Ramsey Show
If You Want To Be a Millionaire, Do What Millionaires Do
Well, Nikki, when somebody has done me wrong, I found, Dave, that my wife Stacy has always taken it worse. I don't know if Sharon's that way or not, but it feels like this situation where your husband's griped a little bit about this, Nikki, and you've gotten really upset about it. And I would listen to your husband here. He wants to make it work.
The Ramsey Show
If You Want To Be a Millionaire, Do What Millionaires Do
And based on the facts you've given us, he never raised his hand for the job. And because he didn't raise his hand, whoever hired this other employee is not on the line for that because they can't read minds. So in this situation, I always tell people to never ask directly for a raise. I teach to talk about a growth plan after you talk about a desire to grow.
The Ramsey Show
If You Want To Be a Millionaire, Do What Millionaires Do
In other words, I think in his interview, he needs to sit down and say, hey, listen, you know, I was thinking about raising my hand for this other position. I didn't. And that's on me. But what it did show me is that I want more. I want to lead. I want to step up. I want to climb here at Company XYZ.
The Ramsey Show
If You Want To Be a Millionaire, Do What Millionaires Do
So to that end, in my review, whether you got it for me today, but in the future, in the near future, I'd like to meet with you and discuss a growth plan. What tools can I add to my tool belt? In other words, skills and experience. And then what are some shortcomings? What are some areas that may be blind spots for me?
The Ramsey Show
If You Want To Be a Millionaire, Do What Millionaires Do
that I need to be aware of so that I do better and make myself a better employee? And then can we lay that plan out, and how do we measure it so that you and I are operating off the same sheet of paper, same sheet of music? And if we measure that, will that lead to opportunity for more responsibility, which should come with more compensation?
The Ramsey Show
If You Want To Be a Millionaire, Do What Millionaires Do
That's the spirit, the posture that you should have so that you do not put your leader on the defensive. Because many times they are not the sole decision maker in you getting a promotion and a raise. And so the reason I prescribe it that way, Dave, is it allows them to have some ownership in it. They don't feel put on the spot. They don't feel backed into a corner.
The Ramsey Show
If You Want To Be a Millionaire, Do What Millionaires Do
And then we have an adult, mature, professional conversation about a path forward.
The Ramsey Show
If You Want To Be a Millionaire, Do What Millionaires Do
That's correct. That's very obvious.
The Ramsey Show
If You Want To Be a Millionaire, Do What Millionaires Do
Yeah, you've got to show some hunger. I think what they want to see here is I want to get better, I want to do more, be more, and that's attractive.
The Ramsey Show
If You Want To Be a Millionaire, Do What Millionaires Do
Yeah, because it's momentum. And I think it's so great to hear new callers, new people coming in, listening to what Dave just laid out. The secret to the baby steps that Dave figured out a long time ago is the sheer momentum, the emotional momentum of knocking out those debts and seeing that there is a path out of this.
The Ramsey Show
If You Want To Be a Millionaire, Do What Millionaires Do
Because for a lot of people, $120,000 of debt, just the sound of that is bone crushing. And so to understand that we can do this one step at a time, it's really, really huge. And I got to say, back to that truck issue, something like that happens. I think people automatically, Dave, they default to, I've got to go into debt because this is my car.
The Ramsey Show
If You Want To Be a Millionaire, Do What Millionaires Do
And they don't sit there and go, what are all of my options right now that don't require taking out debt? They just immediately default to, well, it's my car. And that's a bit of a trap.
The Ramsey Show
If You Want To Be a Millionaire, Do What Millionaires Do
I'm going to say what I think a lot of Americans are thinking right now, that Tammy would be a great co-host one time with you. Were you not thinking that, James? I mean, was she let off with stupid with the same passion that Dave says? And I thought I thought Tammy America would love Tammy. I love Tammy. She's she's a treasure. I just wanted to say that.
The Ramsey Show
If You Want To Be a Millionaire, Do What Millionaires Do
I think that was one of my favorite calls that I've ever heard because she's on it. She makes no no mistakes about what she thinks. And I love her. I think she's great.
The Ramsey Show
If You Want To Be a Millionaire, Do What Millionaires Do
You and Tammy co-coaching someone would melt the internet. It would melt YouTube. Picture Dave fired up and Tammy a little fired up. It would be great radio.
The Ramsey Show
If You Want To Be a Millionaire, Do What Millionaires Do
You just take it off the table.
The Ramsey Show
If You Want To Be a Millionaire, Do What Millionaires Do
Grammarly used to say, where there's a will, there's a way. And I believe if you will yourself to not use debt as an option, you can get pretty innovative. In fact, that's where innovation comes from, a lack of resources. That's the very nature of innovation. They figure out a way to solve a problem.
The Ramsey Show
If You Want To Be a Millionaire, Do What Millionaires Do
Which is what? What field is that?
The Ramsey Show
If You Want To Be a Millionaire, Do What Millionaires Do
So what's the path though? What's the ideal path that led you to a chemistry degree? Where do you want to be?
The Ramsey Show
If You Want To Be a Millionaire, Do What Millionaires Do
Well, I'm not worried about the moment, but I am trying to think about this long-term play because now you're, you're, you're rebuilding your life. So is chemistry off the table, a career in chemistry off the table, or is it still on the table?
The Ramsey Show
If You Want To Be a Millionaire, Do What Millionaires Do
What would be a top, top income in your field?
The Ramsey Show
If You Want To Be a Millionaire, Do What Millionaires Do
Ray, I just want to add that, Dave, I'm curious to know what you would say to this, having walked through this yourself. But Ray, I've got a friend of mine, he's a big fitness expert, and he says, exhaust the body, tame the mind. And I think there's a bit of a truth there for you in this situation in the form of not necessarily working out, but I think you need to be working as much as you can.
The Ramsey Show
If You Want To Be a Millionaire, Do What Millionaires Do
I'd like to see you make the transition into your field because that's your greatest potential for income. But whether you're working at a bar or or you're working three or four jobs right now, I think you need a mental win. And I think you do it two ways.
The Ramsey Show
If You Want To Be a Millionaire, Do What Millionaires Do
You're working so hard that you have nothing else going on and you're piling up cash, as Dave says, because I think you need the emotional win and I think you need the mental win and not beat yourself up anymore. I think you need to see yourself establish that bank account and get it growing and watch yourself get some momentum of putting cash in the bank.
The Ramsey Show
If You Want To Be a Millionaire, Do What Millionaires Do
so that you convince yourself, I can actually do this. I'm not a moron. I'm not the only person that's ever gone bankrupt. Dave Ramsey has, and he's done well since. So I just think that would be my encouragement to you. Stay busy right now. Be as busy as you can, not to detach, but to
The Ramsey Show
If You Want To Be a Millionaire, Do What Millionaires Do
grow from this and to exhaust your uh your work body and your work mind uh so that you can say hey i'm actually winning and i can build myself back up i can come out of these ashes that would be my recommendation i think that's the best thing coming off of a big loss because i think it's traumatic well and what happens is you start getting some wins and rebuild your confidence that's part of answering the question yeah how do i recover that's it is you rebuild your confidence i had to
The Ramsey Show
Stuck in a Financial Pit? Here’s How to Climb Out and Stay Out
And it sounds like we've got a myriad of issues. So I heard we've got to organize, but then we've got to figure out if this franchise can actually work. So which is the bigger problem, spending or budgeting the money, the little bit money you're making? Are you making any money at all? What's the bigger problem here? Because I heard several things.
The Ramsey Show
Stuck in a Financial Pit? Here’s How to Climb Out and Stay Out
Okay. What are your actual expenses? You're living with mom and dad.
The Ramsey Show
Stuck in a Financial Pit? Here’s How to Climb Out and Stay Out
What's your bottom line? You could make it if you only had this much coming in.
The Ramsey Show
Stuck in a Financial Pit? Here’s How to Climb Out and Stay Out
Melissa, I'm jumping in only because we have limited time with you, and I want Jade to be able to get to this. So what is that minimum number? that you need to just survive? Because you don't have housing. What's giving you a ballpark number? Is it $1,800, $2,000, $1,500? What is it that you have to have? I would say for the month, I would say about maybe...
The Ramsey Show
Stuck in a Financial Pit? Here’s How to Climb Out and Stay Out
Hang on the line. What are we going to give her? Are we going to help her out with anything?
The Ramsey Show
Stuck in a Financial Pit? Here’s How to Climb Out and Stay Out
I like it. All right, you can do this, Melissa. We're walking this through with you. This is The Randall Show.
The Ramsey Show
Stuck in a Financial Pit? Here’s How to Climb Out and Stay Out
Welcome back to the Ramsey Show, here to help you win in your life. We want you to win with your money, win in your professional life, and win... with your relationships. I'm Ken Coleman. Jade Warshaw is alongside. 888-825-5225 is the number. West Palm Beach, Florida is where we go next. Katie is there. Katie, how can we help?
The Ramsey Show
Stuck in a Financial Pit? Here’s How to Climb Out and Stay Out
Sure. All right, let's start with two quick questions. Number one, do you have kids?
The Ramsey Show
Stuck in a Financial Pit? Here’s How to Climb Out and Stay Out
And nobody to watch them.
The Ramsey Show
Stuck in a Financial Pit? Here’s How to Climb Out and Stay Out
All right, so let's try to get you some clarity. Let's back out of the situation because this is tough, hard to see some things. If money were no object and I just gave you this degree or certification, whatever you're referring to when you're talking about schooling, and I just gave it to you today and you had that done, what would you be using the schooling for?
The Ramsey Show
Stuck in a Financial Pit? Here’s How to Climb Out and Stay Out
What is this path, direction you're thinking that you need schooling for?
The Ramsey Show
Stuck in a Financial Pit? Here’s How to Climb Out and Stay Out
So nursing. So nursing. That's what you've selected. Yes. Okay. And what would you make? Have you done your research? What would that allow you to start out at?
The Ramsey Show
Stuck in a Financial Pit? Here’s How to Climb Out and Stay Out
Well, we've got a real challenge because you just literally have no money for the nursing program. How much would the cheapest nursing program cost you?
The Ramsey Show
Stuck in a Financial Pit? Here’s How to Climb Out and Stay Out
And I mean the cheapest because nobody cares what brand name is on the diploma. We just need the degree.
The Ramsey Show
Stuck in a Financial Pit? Here’s How to Climb Out and Stay Out
Okay. Do you have a ballpark idea if you had to guess?
The Ramsey Show
Stuck in a Financial Pit? Here’s How to Climb Out and Stay Out
If you don't, that's okay. I don't want to hold us up. So we need to know that number.
The Ramsey Show
Stuck in a Financial Pit? Here’s How to Climb Out and Stay Out
Welcome to the Ramsey Show, where we help you win in your life. We're going to help you win with your money, win at work, in your work, and win with your relationships. All three of those are coming together. Hopefully you're winning. I'm Ken Coleman. Jade Warshaw is the voice. And the fabulous face that you see next to me. And we're here together. We're going to help you out.
The Ramsey Show
Stuck in a Financial Pit? Here’s How to Climb Out and Stay Out
Okay. All right, Jade, that at least gives us a target on the future. The deadbeat dad thing, just a real quick question. I'll get out of Jade's way so she can coach you on this, but are there any legal recourse on this guy not paying you what he owes you?
The Ramsey Show
Stuck in a Financial Pit? Here’s How to Climb Out and Stay Out
Yeah. I got an idea now what we're talking about. So is it you, your buddy that you mentioned, you're the two partners and your wife is also helping out just because you can't afford to pay anybody? Give us just a little bit more clarity on that.
The Ramsey Show
Stuck in a Financial Pit? Here’s How to Climb Out and Stay Out
Okay, gotcha. All right. Okay, well, we've got to get our income up. There's got to be a bridge, Jade, just on the income side. There's got to be a bridge from where she's at making $13 an hour now. If we could get her to $20, $22, $24 an hour, I don't care what it is, Katie. It's just you're doing something. You don't have to have a degree to get that kind of money, potentially.
The Ramsey Show
Stuck in a Financial Pit? Here’s How to Climb Out and Stay Out
Now, I know you're in a limited area, so within reason, if we can get your income, is there a bridge or a second job, friends, old grandmas at the church you go to? You've got to get really, really...
The Ramsey Show
Stuck in a Financial Pit? Here’s How to Climb Out and Stay Out
uh innovative in thinking who can help with the kids when they're not in daycare so you can make more money to be able to cash flow this nursing program help me understand the limited area is it you're on base is it to help me understand that very very small town everybody knows everyone west if you get a job west palm beach she's not in west palm where are you i know south florida where are you
The Ramsey Show
Stuck in a Financial Pit? Here’s How to Climb Out and Stay Out
When will the four-year-old go to kindergarten?
The Ramsey Show
Stuck in a Financial Pit? Here’s How to Climb Out and Stay Out
I agree. Just from a logistic standpoint, Katie, because I know you're overwhelmed, who would watch the kids and when would you do the nursing program if you had the money today? Somebody's got to watch the kids. What's that song?
The Ramsey Show
Stuck in a Financial Pit? Here’s How to Climb Out and Stay Out
trying to plug myself into some churches but um it takes a while to build of course friendship and trust so it's a work in progress okay so here's the thing you're doing the right thing here's my point jade's 100 right i want to see you get more income let's solve the who can watch the kiddos while i'm making more money problem i think that's huge Let's get a budget. Jade will help you out.
The Ramsey Show
Stuck in a Financial Pit? Here’s How to Climb Out and Stay Out
We'll give you every dollar or something along those lines. But I think real quick, let's get help for kiddos. They know you're a single mom. They know you need a little help. Let's get the finances completely under control. Let's increase our income.
The Ramsey Show
Stuck in a Financial Pit? Here’s How to Climb Out and Stay Out
And once you're stable there, I think you can save up $11,000 to $12,000 faster than you think if you have better income and you got everything kind of under control and you know where your money's going in and out. I think that's the plan for me. Please don't do the debt. It's just going to put more stress on you. I think it's worth waiting.
The Ramsey Show
Stuck in a Financial Pit? Here’s How to Climb Out and Stay Out
No, it's just, and I get it. This is the lure, by the way.
The Ramsey Show
Stuck in a Financial Pit? Here’s How to Climb Out and Stay Out
Hang on the line, Katie. We're going to take care of you. Kelly will get you hooked up with some great resources to kind of get control of the money, and with that clarity comes confidence to move forward on the advice we've given you. This is The Ramsey Show.
The Ramsey Show
Stuck in a Financial Pit? Here’s How to Climb Out and Stay Out
Oh, mama. And you owe $125,000 of that?
The Ramsey Show
Stuck in a Financial Pit? Here’s How to Climb Out and Stay Out
Welcome back to the Ramsey Show. Alongside Jade Warshaw, I'm Ken Coleman. Glad to have you with us as we coach you and others up to win with your money, win in your work, and win with your relationships. 888-825-5225 is the phone number. Today's Ramsey Network app question is from Lewis. We just finished paying off $100,000 in debt.
The Ramsey Show
Stuck in a Financial Pit? Here’s How to Climb Out and Stay Out
Oh, no, that ain't 125. Last time I did math. Oh, that would be... Okay, so you owe 70% of it.
The Ramsey Show
Stuck in a Financial Pit? Here’s How to Climb Out and Stay Out
However, we have only $80,000 saved for retirement and have $15,000 saved for our teenager who will be going to college in three years. I'm 50. My wife is 47. Our annual household income is $175,000, and we only live on maybe half of that.
The Ramsey Show
Stuck in a Financial Pit? Here’s How to Climb Out and Stay Out
Should we not put money into our daughter's college fund at this point and just hope she can qualify for scholarships or cash flow college when we get there so that we can save more for retirement? Any advice would be appreciated.
The Ramsey Show
Stuck in a Financial Pit? Here’s How to Climb Out and Stay Out
Oof, and you guys aren't making anything. You're barely making it, keeping the business going. It's just barely making it.
The Ramsey Show
Stuck in a Financial Pit? Here’s How to Climb Out and Stay Out
Depends on the land. And it depends on the stock market. Well, yes, but we have historical averages on the stock market. So we know what the stock market has done historically. So you've got a range there of what that's going to do. What matters is this land. That's the asterisk in this. What do you know about the land? Is it just farmland? Is it in an area?
The Ramsey Show
Stuck in a Financial Pit? Here’s How to Climb Out and Stay Out
What do you know about the land and the future around it?
The Ramsey Show
Stuck in a Financial Pit? Here’s How to Climb Out and Stay Out
We're not sure exactly what it's going to come up to. You're on the right track. I would want to know, what's the potential of this land over 15, 20, 30 years? Because if it's a retirement, because you're asking apples to apples, and these aren't apples to apples. And so that's what I would be doing.
The Ramsey Show
Stuck in a Financial Pit? Here’s How to Climb Out and Stay Out
If I'm looking at this as retirement money, I'm either going to put it in mutual funds the way we teach here, or I'm going to hold on to the land, and at X age that we determine, we sell it. So as you look to however many years that is from now when you would actually want to use it for retirement, whatever.
The Ramsey Show
Stuck in a Financial Pit? Here’s How to Climb Out and Stay Out
What do you project or what do some land experts in that area project that land value to be? That would be the answer that I'm looking for. And based on that, then I make my decision. And, you know, look, you're going to probably get much better return on getting that cash out now and putting it in mutual funds. That would be my guess based on what you've told me.
The Ramsey Show
Stuck in a Financial Pit? Here’s How to Climb Out and Stay Out
But I would want to know for sure.
The Ramsey Show
Stuck in a Financial Pit? Here’s How to Climb Out and Stay Out
I'd probably go buy a sign today and smack it in the dirt, me, and take that money and put that away.
The Ramsey Show
Stuck in a Financial Pit? Here’s How to Climb Out and Stay Out
Right, and that's why I said I'd take the $750,000 now because it doesn't sound like – I actually agree with you, Jade. I'd want to know what that looks like. And then again, I'm comparing. So I'm with you. I'm 100% going. My goal here is to make more money, and that's your goal too. So the question is, what allows you to make the most money? I think my gut tells me, and I'm not informed –
The Ramsey Show
Stuck in a Financial Pit? Here’s How to Climb Out and Stay Out
But I told you what I would do to get informed. I would add to it what Jay just said, which is, could we be making more money than just leasing to the current guy who's letting cattle run on it?
The Ramsey Show
Stuck in a Financial Pit? Here’s How to Climb Out and Stay Out
Run all those numbers, at which point I'm going to go, if my money has a chance to grow faster by getting it now and putting it in the stock market through the mutual funds, the way we teach investing, then that's probably the way I'm going.
The Ramsey Show
Stuck in a Financial Pit? Here’s How to Climb Out and Stay Out
Because you've got, what, 12 years before you're going to go after it? What do you think? Work until 70?
The Ramsey Show
Stuck in a Financial Pit? Here’s How to Climb Out and Stay Out
You got options. I love that plan. I'd probably sell that dirt tomorrow.
The Ramsey Show
Stuck in a Financial Pit? Here’s How to Climb Out and Stay Out
She's got a good intuition. Glad you brought that up. This is The Ramsey Show.
The Ramsey Show
Stuck in a Financial Pit? Here’s How to Climb Out and Stay Out
Welcome to The Ramsey Show. This is where we help you, America. Specifically, we help you win with your money. Win in your professional life and win... With your relationships. Alongside Jade Warshaw, I'm Ken Coleman. We're both thrilled to be together for you. So we'd love to coach you up. Here's how we do it. You give us a call, 888-825-5225. 888-825-5225. Jade's our resident money expert.
The Ramsey Show
Stuck in a Financial Pit? Here’s How to Climb Out and Stay Out
I'm the resident professional advice expert. Let's make Mo Money so that Jade can teach you how to keep money. more of the money. That's our tango today. So can we help you? Let's go. Christian starts us off in Portland, Oregon. Christian, how can we help today?
The Ramsey Show
Stuck in a Financial Pit? Here’s How to Climb Out and Stay Out
Well, I've got good news for you because I'm sitting next to the budget queen, not the dancing queen. There it is. Do your thing. I think this man needs to know how to figure out a budget.
The Ramsey Show
Stuck in a Financial Pit? Here’s How to Climb Out and Stay Out
Okay. Do you have any support around you that could help with her?
The Ramsey Show
Stuck in a Financial Pit? Here’s How to Climb Out and Stay Out
How many hours are you working, the two of you, on this cooking shop?
The Ramsey Show
Stuck in a Financial Pit? Here’s How to Climb Out and Stay Out
I know, but I'm talking about you're a daddy now and I'm jumping in here because I don't like what I'm hearing and I'm not like criticizing you. But you need to be working full time, even when it's your turn, your custody side of things. That means you see her after you come home from work.
The Ramsey Show
Stuck in a Financial Pit? Here’s How to Climb Out and Stay Out
That means someone is helping you or you are paying for them to help you because you need to be making more money in this offseason.
The Ramsey Show
Stuck in a Financial Pit? Here’s How to Climb Out and Stay Out
Is it also fair to say, is it also fair to say that you haven't needed to budget?
The Ramsey Show
Stuck in a Financial Pit? Here’s How to Climb Out and Stay Out
Meaning you've never had to worry about not having enough money. So therefore, there was never a need to watch where this dollar was going and where that dollar was going.
The Ramsey Show
Stuck in a Financial Pit? Here’s How to Climb Out and Stay Out
$7,000 a month is a good chunk.
The Ramsey Show
Stuck in a Financial Pit? Here’s How to Climb Out and Stay Out
Which is why, by the way, Jade, I want him working even though this is a nice blessing. I still want him working.
The Ramsey Show
Stuck in a Financial Pit? Here’s How to Climb Out and Stay Out
All right. So what I'm trying to figure out, Jade, is they got to make money.
The Ramsey Show
Stuck in a Financial Pit? Here’s How to Climb Out and Stay Out
Um, that's almost half of that debt. Not quite, but almost.
The Ramsey Show
Stuck in a Financial Pit? Here’s How to Climb Out and Stay Out
I don't know. We didn't have enough time to get into that. What do you want to do? If money wasn't an object, say it, go.
The Ramsey Show
Stuck in a Financial Pit? Here’s How to Climb Out and Stay Out
Hang on the line. Kelly, let's get him a copy of Find the Work You're Wired to Do. It's a bestselling book with an assessment. It'll help. This is The Ramsey Show.
The Ramsey Show
Stuck in a Financial Pit? Here’s How to Climb Out and Stay Out
The Ramsey Show continues. Thrilled to have you with us, America. 888-825-5225 is the phone number to jump in. We would love to hear from you. We want to coach you up. I'm Ken Coleman. Jade Warshaw is alongside. Hey, our Ramsey Show annual listener survey is now live. We'd love to know your favorite parts of the show, what you like, what you don't, what you want to hear more of, whatever it is.
The Ramsey Show
Stuck in a Financial Pit? Here’s How to Climb Out and Stay Out
We do want your opinion. There are a couple ways to participate. You can text the word SURVEY to the number 33789. You can text SURVEY to 33789. Visit ramsaysolutions.com slash SURVEY. That's ramsaysolutions.com slash SURVEY. Or if you're listening on podcast or YouTube, click the link in the show notes. Sign up today to tell us what you think, and you will be entered, by the way, to win a
The Ramsey Show
Stuck in a Financial Pit? Here’s How to Climb Out and Stay Out
A $500 gift card. So got a chance to win $500 just for telling us what you think. If you're going to say anything mean about me, just go ahead and decide not to.
The Ramsey Show
Stuck in a Financial Pit? Here’s How to Climb Out and Stay Out
You think? A few. A few.
The Ramsey Show
Stuck in a Financial Pit? Here’s How to Climb Out and Stay Out
Today, my sweater is just very low-key today.
The Ramsey Show
Stuck in a Financial Pit? Here’s How to Climb Out and Stay Out
I can't help it that I like some bolder statements from time to time.
The Ramsey Show
Stuck in a Financial Pit? Here’s How to Climb Out and Stay Out
As do you. Indeed. But I think you pull it off better, and maybe people are going, he should probably not try to keep up with you.
The Ramsey Show
Stuck in a Financial Pit? Here’s How to Climb Out and Stay Out
Yeah, I like that. It's a good look. All right, back to the phones we go. 888-825-5225. Dag is joining us in Seattle, Washington. Dag, how can we help?
The Ramsey Show
Stuck in a Financial Pit? Here’s How to Climb Out and Stay Out
All right, so direction in what you do for work after you retire from the main career and then direction in how to invest? Is that what I'm hearing?
The Ramsey Show
Stuck in a Financial Pit? Here’s How to Climb Out and Stay Out
Let's dive in. I have a sense that a guy like you calls this show, you have a couple of ideas that if there were zero resistance, you would go, this is probably one on my list. This is two on my list. Am I right? Sure. Yeah. All right. So give me number one. What would you do if there were zero resistance? Let's say we fast forward and we walk away from public service and boom, we walk into this.
The Ramsey Show
Stuck in a Financial Pit? Here’s How to Climb Out and Stay Out
Well, what about instructing within the actual department?
The Ramsey Show
Stuck in a Financial Pit? Here’s How to Climb Out and Stay Out
So the question is, are you working for a municipality or the state?
The Ramsey Show
Stuck in a Financial Pit? Here’s How to Climb Out and Stay Out
I wonder if there are some training instructing opportunities in different departments. And so the idea here is, here's where I would start brainstorming, Dag. All right, these people know me. I've been a city employee or county employee for X amount of years. I'm in the system. If I can get out of the environment, that's what I'm hearing you say,
The Ramsey Show
Stuck in a Financial Pit? Here’s How to Climb Out and Stay Out
an emergency and I can move somewhere else and still take some of that transferable experience and get into instructing, then I'm not having to go necessarily get any qualifications. That's one option. The other option is, yeah, over the next couple of years.
The Ramsey Show
Stuck in a Financial Pit? Here’s How to Climb Out and Stay Out
you moonlight and get an online teaching degree and then decide, I can go to the local high school, I can go to the local community college. You know, I think it's just laying out all the specific training slash instruction options in your area. Make a list. Where could I go if there were zero challenge or hindrances?
The Ramsey Show
Stuck in a Financial Pit? Here’s How to Climb Out and Stay Out
Then we look at that list and we go, well, I kind of like the idea of teaching at this local trade school, or I like this idea of teaching at this local public school, whatever. And you begin to make the list of this is more desirable than that, and I got my top two or three options.
The Ramsey Show
Stuck in a Financial Pit? Here’s How to Climb Out and Stay Out
And now I start asking the question, and I wrote about this, by the way, and I'm going to give you the book, Paycheck to Purpose. But I wrote about this. There's four qualifying questions. Once we know, Dag, what I want to do, they are, what do I need to learn? That's the education question. Could be a certification, may have to be associates, may have to be a four-year degree.
The Ramsey Show
Stuck in a Financial Pit? Here’s How to Climb Out and Stay Out
What do I need to do? What experience will I need? That tells me where I'm entering or I'm transferring certain experience. Then it's how much is that going to cost me? That's the finance piece. And then finally, based on my finances, how long will this take me? And those are the four questions, Dag. And they're in the book. And I'll give the book to you at the end of the call.
The Ramsey Show
Stuck in a Financial Pit? Here’s How to Climb Out and Stay Out
And it's in the get qualified stage. But those four questions right there, that comes up with a plan. And now it's not intimidating, Jade, because now he knows what he's got to do.
The Ramsey Show
Stuck in a Financial Pit? Here’s How to Climb Out and Stay Out
I think that's your homework there. I want to get Jade in here.
The Ramsey Show
Stuck in a Financial Pit? Here’s How to Climb Out and Stay Out
Yeah, that's where I'm coming in. I don't know. I'm going to tell you something. I'm going to do what we always do here and I'm going to answer this the way. Go Ken style. So I don't know what you're going to say. And I'm anxious to see what my partner says here on this. But if I were you. I've got to take care of my family first. I'm not worried about the cookie business.
The Ramsey Show
Stuck in a Financial Pit? Here’s How to Climb Out and Stay Out
No one's taking that money back. It's yours.
The Ramsey Show
Stuck in a Financial Pit? Here’s How to Climb Out and Stay Out
Come on, Dagg. This is the Rams issue.
The Ramsey Show
Stuck in a Financial Pit? Here’s How to Climb Out and Stay Out
I'm really not because I hear it in his voice, and I think there's a greater reality here. And I'm going to try to keep the cookie thing afloat with other part-time people. This is already a slow season.
The Ramsey Show
Stuck in a Financial Pit? Here’s How to Climb Out and Stay Out
Take your phone calls. 888-825-5225. 888-825-5225. Partner, you ready to go? You warmed up? I'm warmed up. Did you do your salt cleanse on the throat or any kind of lozenge? Stretch the hammies. Okay, warmed up the voice. Okay, I like you stretched your hammies for sitting here for three hours. That's pretty good. We're going to start it off in Springfield, Missouri with Isaac today.
The Ramsey Show
Stuck in a Financial Pit? Here’s How to Climb Out and Stay Out
Welcome back to The Ramsey Show. Alongside Jade Warshaw, I'm Ken Coleman, 888-825-5225 is the phone number. It's time for our question of the day. It comes to you by and from our good friends, WhyRefi. WhyRefi refinances defaulted private student loans and builds a custom loan based on your ability to pay. You'll have a payment that you can afford with a low fixed interest rate.
The Ramsey Show
Stuck in a Financial Pit? Here’s How to Climb Out and Stay Out
you can't get anywhere else. So this will help you stick to your budget and work your debt snowball. Go to yrefy.com today slash Ramsey. That's the letter Y-R-E-F-Y dot com slash Ramsey may not be available in all states.
The Ramsey Show
Stuck in a Financial Pit? Here’s How to Climb Out and Stay Out
It does not sound right at all.
The Ramsey Show
Stuck in a Financial Pit? Here’s How to Climb Out and Stay Out
This needs to be dealt with instantly.
The Ramsey Show
Stuck in a Financial Pit? Here’s How to Climb Out and Stay Out
instantly like sitting down with lots of leaders going hey look i immediately i got questions don't go in accusing but a lot of questions and good questions good questions why has this been happening yeah uh you said sorry that implies a mistake has it been remedied what are you gonna do about all the back stuff but what's the tone i need to know tone because i i'm having a strong tone
The Ramsey Show
Stuck in a Financial Pit? Here’s How to Climb Out and Stay Out
you and your wife have got to be spending time actually making real money taking care of the family and i'm not sure that there's a future on this cookie deal and i i'm the kind of guy that go i don't want to prolong misery yeah I want to cut bait at some point. I'm not saying it's now. I'm not willing to say that because I don't know enough. We have limited time, Jade.
The Ramsey Show
Stuck in a Financial Pit? Here’s How to Climb Out and Stay Out
I'm going to say serious tone. A serious tone.
The Ramsey Show
Stuck in a Financial Pit? Here’s How to Climb Out and Stay Out
Very serious. I like that you asked this, so I want to set this up well. The questions themselves... take care of the tone. In other words, you don't have to be accusatory, angry, a really pointed, specific line of questioning. Pre-thought out, maybe right there in front of you on your lap or on your phone. And in the moment, you're serious. Serious face. We're not joyful about this. No.
The Ramsey Show
Stuck in a Financial Pit? Here’s How to Climb Out and Stay Out
No amiableness. It is seriousness. But I think the questions asked properly... Make it very serious. They go, this is a person who did their homework. This is a person who has follow-ups. There is a line of questioning. They feel as though they are on a witness stand, and that's how it should be.
The Ramsey Show
Stuck in a Financial Pit? Here’s How to Climb Out and Stay Out
You don't have to be ugly and accusatory because you're hoping to get to the bottom of this and get an actual solution. But by doing this, you're going to find out really quick if this is a fishy situation or if this is a fixable situation. That would be my take.
The Ramsey Show
Stuck in a Financial Pit? Here’s How to Climb Out and Stay Out
First question, how did this happen?
The Ramsey Show
Stuck in a Financial Pit? Here’s How to Climb Out and Stay Out
How did this happen? That's a serious question. Then the follow-up is, has it been fixed? No. Will this ever happen again? What happens to the money that I earned that should have been put? That's the real question. These questions are going to imply a whole lot of seriousness. That would be my posture. Spoken from a guy, by the way, who's not done it well. All right. I mean, because I get it.
The Ramsey Show
Stuck in a Financial Pit? Here’s How to Climb Out and Stay Out
I get how the heat should be pretty hot under the hood there. It should be steaming. But can we keep that in? And can we ask the questions that way? That helps us hopefully get some real responses.
The Ramsey Show
Stuck in a Financial Pit? Here’s How to Climb Out and Stay Out
I almost might seek an employment lawyer on this. Not lock up a lot of time, but maybe a consultation.
The Ramsey Show
Stuck in a Financial Pit? Here’s How to Climb Out and Stay Out
This is the thing, though. They've already apologized. That's true. We have an admission of guilt here.
The Ramsey Show
Stuck in a Financial Pit? Here’s How to Climb Out and Stay Out
I'm sorry. I should have done a better job asking you. If you know you've got to go have this conversation with the leader, which they do, I might consult an employment lawyer.
The Ramsey Show
Stuck in a Financial Pit? Here’s How to Climb Out and Stay Out
So I know what should be.
The Ramsey Show
Stuck in a Financial Pit? Here’s How to Climb Out and Stay Out
It smells over there.
The Ramsey Show
Stuck in a Financial Pit? Here’s How to Climb Out and Stay Out
I get it. Let's go to Denver, Colorado next where David awaits. David, how can we help?
The Ramsey Show
Stuck in a Financial Pit? Here’s How to Climb Out and Stay Out
But I do think the most important thing is that one of them has got a full-time, decent-paying job that will at least take care of the family. So, again, this is ideal. What would I do? I'd go either Ken or Stacey. Yep. has got a full-time job that takes care of our expenses so that our family doesn't go below water.
The Ramsey Show
Stuck in a Financial Pit? Here’s How to Climb Out and Stay Out
There you go. And what will change is, I was waiting for him to respond because the emotion there.
The Ramsey Show
Stuck in a Financial Pit? Here’s How to Climb Out and Stay Out
But I love that he told you why the call, why the change. The stress of living off of that credit card way that a lot of people do that. Well, I'm going to use it for this and then pay it off. And for him, he's not wired for that. And I'm just thinking about how light he's going to feel.
The Ramsey Show
Stuck in a Financial Pit? Here’s How to Climb Out and Stay Out
And then we fight to keep the cookie thing alive until we can apply some lessons and hopefully get more foot traffic. What do you think?
The Ramsey Show
Stuck in a Financial Pit? Here’s How to Climb Out and Stay Out
You know, when he just starts to do it this way, the way you've told him, and he goes, okay, now I am in full control. I don't have that angst.
The Ramsey Show
Stuck in a Financial Pit? Here’s How to Climb Out and Stay Out
Good stuff. Thanks for the call, David. It's going to work. Take a deep breath. Maybe three or four. and it's going to be great. All right, don't move. Quick break. More of your calls coming up. She's Jade Warshaw. I'm Ken Coleman. You're listening to The Ramsey Show.
The Ramsey Show
Stuck in a Financial Pit? Here’s How to Climb Out and Stay Out
Welcome back to The Ramsey Show. I'm Ken Coleman. Jade Warshaw is with me, and we are here for you. 888-825-5225. 888-825-5225. A couple quick things here before we get back to the phones. You need to be tuned in to a new show called 90 Day Money Makeover. I'm a little excited about this because my partner today, the colleague here next to me, Jade Warshaw.
The Ramsey Show
Stuck in a Financial Pit? Here’s How to Climb Out and Stay Out
You put it on your old Instagram the other day.
The Ramsey Show
Stuck in a Financial Pit? Here’s How to Climb Out and Stay Out
Ken, just tell the folks we're friends. Partner, colleague. We are friends. Thank you. I just mean in the... Okay. Sam and Jade and me, we all go to dinner. We hang out.
The Ramsey Show
Stuck in a Financial Pit? Here’s How to Climb Out and Stay Out
It's a broadcasting thing. I'm old school. I was trained on things like that. It's all just throwaway words. She's my dear friend. Thank you.
The Ramsey Show
Stuck in a Financial Pit? Here’s How to Climb Out and Stay Out
We actually hang out. Let's get into it.
The Ramsey Show
Stuck in a Financial Pit? Here’s How to Climb Out and Stay Out
I was bragging on you. You posted something on the gram. And I saw it and I was like, all right. Because I'm not paying attention to your schedule.
The Ramsey Show
Stuck in a Financial Pit? Here’s How to Climb Out and Stay Out
90-day money makeover. You want to tell folks about it or I can tell them about it?
The Ramsey Show
Stuck in a Financial Pit? Here’s How to Climb Out and Stay Out
I remember you telling me about this one where you were out like on a farm.
The Ramsey Show
Stuck in a Financial Pit? Here’s How to Climb Out and Stay Out
My production notes say that you may or may not have challenged her to sell some chickens, a calf, and even a calf. Is this true? When I met her, she had 50 chickens.
The Ramsey Show
Stuck in a Financial Pit? Here’s How to Climb Out and Stay Out
But you told her to sell them.
The Ramsey Show
Stuck in a Financial Pit? Here’s How to Climb Out and Stay Out
Did you buy boots for this episode?
The Ramsey Show
Stuck in a Financial Pit? Here’s How to Climb Out and Stay Out
What were they? Do we know?
The Ramsey Show
Stuck in a Financial Pit? Here’s How to Climb Out and Stay Out
Oh, you didn't go with Timberland or anything?
The Ramsey Show
Stuck in a Financial Pit? Here’s How to Climb Out and Stay Out
I could see you wearing some really killer Timberlands on this episode.
The Ramsey Show
Stuck in a Financial Pit? Here’s How to Climb Out and Stay Out
Maybe next time. I'm sorry, I interrupted you. So you coach her up in this episode.
The Ramsey Show
Stuck in a Financial Pit? Here’s How to Climb Out and Stay Out
This J.Crew Ralph guy out there on the chickens. Instant entertainment.
The Ramsey Show
Stuck in a Financial Pit? Here’s How to Climb Out and Stay Out
Yeah, from a silly standpoint. It wouldn't be much redeemable content. They show me all these farm tools. I'd be like, what do you do with this? I have no idea, and I don't like calluses either. Unless it's from a pickleball paddle or a golf club. Those are the only two.
The Ramsey Show
Stuck in a Financial Pit? Here’s How to Climb Out and Stay Out
that i like to get good to know all right it's gonna be fun it's really good it looks good i saw it on on jade's instagram so it's very very good trailer looks great yeah it's very good i can't wait uh you know what we need to do we need to have you and sam over and we'll watch it we'll do a watch party since we hang out all the time i yes people want to know that not in the hot tub because we won't do that no
The Ramsey Show
Stuck in a Financial Pit? Here’s How to Climb Out and Stay Out
I didn't know that was an option.
The Ramsey Show
Stuck in a Financial Pit? Here’s How to Climb Out and Stay Out
All right. You're welcome.
The Ramsey Show
Stuck in a Financial Pit? Here’s How to Climb Out and Stay Out
Moving on. Jenny is on the line in Dallas, Texas. Jenny, how can we help?
The Ramsey Show
Stuck in a Financial Pit? Here’s How to Climb Out and Stay Out
Yeah, I agree. Couldn't agree more. I think this is a therapy session. Marriage issue first, money issue second. I also would say to you, let's get him on that page. Let's chill out on the scorched earth and teach him the momentum once we get him on the same page. Good hour, Jade. Thank you so much for joining us here, America. This is your show. This is The Ramsey Show.
The Ramsey Show
Stuck in a Financial Pit? Here’s How to Climb Out and Stay Out
Yeah. I'd give it a run, but one of you has got to go make a really good living and not all this door dashing and scrapping. Let's get some comfort. See if we can give this thing a run, or is it worth it? At this point, just go, all right, I'm going to take my 70% that I owe, I'm going to pay it back, I'm going to learn something. This is The Ramsey Show.
The Ramsey Show
Stuck in a Financial Pit? Here’s How to Climb Out and Stay Out
Isaac, how can we help?
The Ramsey Show
Stuck in a Financial Pit? Here’s How to Climb Out and Stay Out
Welcome back to The Ramsey Show, where we coach you to win with your money, win in your work, and win in your relationships. Alongside Jade Warshaw, I'm Ken Coleman. Jade, are you fired up? You're ready to go? You got your talk ready for January 23rd? I'm talking about the Take Control of Your Money livestream.
The Ramsey Show
Stuck in a Financial Pit? Here’s How to Climb Out and Stay Out
I saw your face out on the gigantic jumbotron as I was walking to lunch yesterday. I was like, hello, Jay.
The Ramsey Show
Stuck in a Financial Pit? Here’s How to Climb Out and Stay Out
But going to be a lot of fun. Dave Ramsey and you are going to be teaching people how to stop living paycheck to paycheck so they can pay off debt and finally get ahead. Also, I'm told, Rachel Cruz and George Campbell will be joining for a Q&A, a little cameo.
The Ramsey Show
Stuck in a Financial Pit? Here’s How to Climb Out and Stay Out
So when you sign up, here's an extra little potential bonus. You will be entered in our cash giveaway. Five people are going to win $4,000 each at the Take Control of Your Money livestream. That's this January 23rd. You can sign up. It's free, by the way. Sign up for the live stream at ramsaysolutions.com slash live stream. That's ramsaysolutions.com slash live stream.
The Ramsey Show
Stuck in a Financial Pit? Here’s How to Climb Out and Stay Out
Ken, I put you on the spot for a little preview. What can you tell us? What will you tell us?
The Ramsey Show
Stuck in a Financial Pit? Here’s How to Climb Out and Stay Out
Oh, I'm very excited.
The Ramsey Show
Stuck in a Financial Pit? Here’s How to Climb Out and Stay Out
Well, Gucci. Category?
The Ramsey Show
Stuck in a Financial Pit? Here’s How to Climb Out and Stay Out
Can you give me a category?
The Ramsey Show
Stuck in a Financial Pit? Here’s How to Climb Out and Stay Out
I would get it dry clean regularly. You want to keep those nice.
The Ramsey Show
Stuck in a Financial Pit? Here’s How to Climb Out and Stay Out
Wouldn't do yard work in it.
The Ramsey Show
Stuck in a Financial Pit? Here’s How to Climb Out and Stay Out
I'd wear it in with a little bit of pride.
The Ramsey Show
Stuck in a Financial Pit? Here’s How to Climb Out and Stay Out
I like that great metaphor. That's going to put people in a good place of tension. yeah the way you just set that up a lot of people are like ouch i'm treating my purse my shoes my fill in the blank better than i am my greatest resource my money we're not realizing it it's gonna be fun all right uh let's get back to the phones melissa joins us now in orlando florida melissa how can we help today
The Ramsey Show
Stuck in a Financial Pit? Here’s How to Climb Out and Stay Out
Speaking of the example you just gave, she did not know where it was.
The Ramsey Show
Getting Your House In Order Is The First Step To Financial Success
That's right. And on paper, George is right, Steve. I mean, this is a good investment for you. You're a good son. But I'm afraid it is going to turn into because you bailed him out on this, you're going to bail him out on other stuff. The bigger issue needs to be I'll bail like if. OK, I'll just say this, George.
The Ramsey Show
Getting Your House In Order Is The First Step To Financial Success
Steve, if I'm you and I was wanting to do this, I wouldn't do it unless they allowed me, that's you, to get into their finances and once and for all put some type of protections in place so the fraud's not happening all the time. He's just being careless at best if what you're describing is happening all the time.
The Ramsey Show
Getting Your House In Order Is The First Step To Financial Success
So I would at least put some protections in there for you to say, this has got to stop. I'll buy the house. It's an investment for me. You'll live rent free until the day you die. Fine. But that's it. And on top of that, I got to know that this isn't going to happen anymore because I think George is right. I'm afraid Bank of Steve is like, I think that's a reality.
The Ramsey Show
Getting Your House In Order Is The First Step To Financial Success
And I don't think you want that, do you?
The Ramsey Show
Getting Your House In Order Is The First Step To Financial Success
This could really ruin your life.
The Ramsey Show
Getting Your House In Order Is The First Step To Financial Success
I've never seen something like this work out great for all parties involved. Well, he's trying. Steve's a good person. Good son. Yeah. But he's trying to fix a situation he can't fix. And that's what I'm concerned about. It messes his life up. But hey, we've spoken. Quick break. We'll be right back. This is The Ramsey Show.
The Ramsey Show
Getting Your House In Order Is The First Step To Financial Success
Well, we're very sorry about that, and I've got to tell you, does the father-in-law know yet?
The Ramsey Show
Getting Your House In Order Is The First Step To Financial Success
Alongside George Campbell, I'm Ken Coleman. You've joined the Ramsey Show, where we help you win with your money, win in your work, and win in your relationships. 888-825-5225. 888-825-5225 is the phone number. Let's go to Chris in San Francisco, California. Chris, how can we help today?
The Ramsey Show
Getting Your House In Order Is The First Step To Financial Success
So tell me about this. What's happened? What's the deal with insurance?
The Ramsey Show
Getting Your House In Order Is The First Step To Financial Success
This is The Ramsey Show, where we help you win in your life. Specifically, win with your money, win in your profession, and win with your relationships. Excited to be with my pal, George Campbell. I'm Ken Coleman, and we're here for you today, America. The phone number is 888-825-5225, 888-825-5225. Let's start it off with Randall in Homer, Alaska. And Randall, we're here for you today.
The Ramsey Show
Getting Your House In Order Is The First Step To Financial Success
Maybe you should stop driving his car. Let's start with this car. You're the common denominator here. I'm not even blaming the moose anymore.
The Ramsey Show
Getting Your House In Order Is The First Step To Financial Success
Yeah, I don't disagree. I think having a long-term plan, sitting with somebody, and now you guys actually have money. A lot of young couples, we would say, as soon as you get out of debt and you begin to move into baby step three, then 40, okay, you sit down and as you begin to invest every month, what's that long-term play? You guys are there.
The Ramsey Show
Getting Your House In Order Is The First Step To Financial Success
So let's get this money working for you, like George said, and man, how exciting. What a blessing this is for you. I mean, you guys should be very, very wealthy by the time you're 60. Yeah. Very. I hope so.
The Ramsey Show
Getting Your House In Order Is The First Step To Financial Success
Okay, I thought, you know what, I'll be honest with you, I thought you were a little younger than that. He sounds like in the early 20s, mid-20s. Yeah, he's about your age. Yeah, I'm a little older. I'm being generous to Ken. Yeah, you're being very kind. But Chris, you're still going to be very wealthy, you know what I mean, by investing this and getting this working for you now.
The Ramsey Show
Getting Your House In Order Is The First Step To Financial Success
I love that. I would call our friends at Zander. I know Jeff personally, the guy's been around forever, a friend of Dave's. They'll take very good care of you. That's why we recommend them. That's very smart.
The Ramsey Show
Getting Your House In Order Is The First Step To Financial Success
All right, let's go to St. Paul, Minneapolis area. McKenna is there. McKenna, how can we help?
The Ramsey Show
Getting Your House In Order Is The First Step To Financial Success
I feel like you've taken that call before because you went into a head voice there. Oh, wow.
The Ramsey Show
Getting Your House In Order Is The First Step To Financial Success
You did an impersonation of what that call might be.
The Ramsey Show
Getting Your House In Order Is The First Step To Financial Success
You had a little disdain in that.
The Ramsey Show
Getting Your House In Order Is The First Step To Financial Success
Taking on two mortgages. I think you're right. I just like how you went there. I think you've had that call one too many times. It gives you a little indigestion.
The Ramsey Show
Getting Your House In Order Is The First Step To Financial Success
You don't like it? I want to evict it. Do you cover that in your book, Breaking Free from Brooke?
The Ramsey Show
Getting Your House In Order Is The First Step To Financial Success
Get it wherever books are sold. This is The Ramsey Show.
The Ramsey Show
Getting Your House In Order Is The First Step To Financial Success
Welcome back to The Ramsey Show. Alongside George Camel, I'm Ken Coleman. Excited to have you with us. 888-825-5225 is the phone number. George and I are here for you. The Ramsey Show question of the day is brought to you by YREFI. YREFI refinances defaulted private student loans. These are different than federal student loans.
The Ramsey Show
Getting Your House In Order Is The First Step To Financial Success
And YREFI refinances those defaulted private student loans and builds a custom loan based on your ability to pay. So if you want to kick your private student loan debt out of your life, By going to yrefy.com slash Ramsey, that's a good idea. That's the letter Y-R-E-F-Y dot com slash Ramsey. It may not be available in all states. Today's question comes from Hayden in Washington, D.C.
The Ramsey Show
Getting Your House In Order Is The First Step To Financial Success
Yes. And that's peace of mind. I remember the same thing. I remember every time I paid it or every time I would, you know, if I got a better rate, I was just it wasn't about the money. It was about I know that something happens to me. Stacey and the kiddos are going to be provided for. And that's what this is all about.
The Ramsey Show
Getting Your House In Order Is The First Step To Financial Success
I agree. The EveryDollar budget right there will help you see, oh, all right, I can move money from somewhere else, but that is a non-negotiable. By the way, you can get EveryDollar in the App Store or Google Play or the link in our show notes. Clifton is up in Raleigh, North Carolina. Clifton, how can we help?
The Ramsey Show
Getting Your House In Order Is The First Step To Financial Success
Which makes you, yeah, you, this is sticky, but I mean, legally it's your car.
The Ramsey Show
Getting Your House In Order Is The First Step To Financial Success
That is no joke. How long has it taken to pay off $230,000?
The Ramsey Show
Getting Your House In Order Is The First Step To Financial Success
Wow. What? Did you find gold? Did you strike oil?
The Ramsey Show
Getting Your House In Order Is The First Step To Financial Success
You guys are just crushing it on all fronts.
The Ramsey Show
Getting Your House In Order Is The First Step To Financial Success
All right. So, Clifton, a question I have for you. So, what are your quarters? Are you on a traditional first quarter, second quarter, or when is your first quarter done?
The Ramsey Show
Getting Your House In Order Is The First Step To Financial Success
No, just in your business, like with your books, like your profits.
The Ramsey Show
Getting Your House In Order Is The First Step To Financial Success
So of that retained earnings, it's currently $240,000. How often do you put money into that? Is it every month?
The Ramsey Show
Getting Your House In Order Is The First Step To Financial Success
But I'm saying, do you do that on a monthly basis, a quarterly, or annually?
The Ramsey Show
Getting Your House In Order Is The First Step To Financial Success
Okay. Here's what I was asking it one way. I've confused you. Let me come at this. What I would do if I were you, George, push back on this, but you've got $240,000 roughly in retained earnings. You don't want to empty it just to pay off the debt at once.
The Ramsey Show
Getting Your House In Order Is The First Step To Financial Success
And I agree with George, you got five years, but I think where I was trying to go with this is what if you right now, starting today, the 240 or whatever it is, you've got to retain earnings. What if every month or every day or every week, As you're putting those in, from this point forward, I would put it all towards the debt.
The Ramsey Show
Getting Your House In Order Is The First Step To Financial Success
So in other words, or let me say this, if the amount, like what is a year's worth of operating expenses for you? Total expenses, what's a year's worth?
The Ramsey Show
Getting Your House In Order Is The First Step To Financial Success
Okay. My point is you got a good chunk. Leave the big chunk in, but now instead of adding to the chunk, George, I'm saying he should start. Now the retained earnings don't go to the account. They go straight to the debt. I like that. What's your household income that you're taking home?
The Ramsey Show
Getting Your House In Order Is The First Step To Financial Success
Well, wait a second. At some point, he had to sign the title over to you.
The Ramsey Show
Getting Your House In Order Is The First Step To Financial Success
Yeah, but that's personal. The question is, on this business debt.
The Ramsey Show
Getting Your House In Order Is The First Step To Financial Success
For instance, George, if he could put $20,000 a month towards the equipment line. Oh, yeah. That's one year.
The Ramsey Show
Getting Your House In Order Is The First Step To Financial Success
Good call. Good hour, George Camel. This is The Ramsey Show.
The Ramsey Show
Getting Your House In Order Is The First Step To Financial Success
This is The Ramsey Show, where we help you win in your life, win with your money, win in your profession, and win with your relationships. Alongside the snappy-attired and also witty-brained George Cam. You're too kind. I'm Ken Coleman. I got to give you two compliments.
The Ramsey Show
Getting Your House In Order Is The First Step To Financial Success
All right, so what's the conversation been with him now? Because I appreciate all this detail he gave us.
The Ramsey Show
Getting Your House In Order Is The First Step To Financial Success
Such a great word. It's a fun word. We should have a word of the hour. You would love that. Maybe we'll kick that around in a program meeting. We'll educate some viewers. Yeah, we'll do that. But nonetheless, we're here together for you. I'm Ken Coleman. He is George Campbell. George will coach you up on the money, what to do with it. I'm going to coach you up how to make more money.
The Ramsey Show
Getting Your House In Order Is The First Step To Financial Success
How about that? Make more money, keep more money. Those would be our names. That'll help you through the baby steps. I think it will. So let's get started, shall we, George? Seattle, Washington is where we go. Michaela is there. Michaela, how can George and I help today?
The Ramsey Show
Getting Your House In Order Is The First Step To Financial Success
Because the truck is in your name as well?
The Ramsey Show
Getting Your House In Order Is The First Step To Financial Success
Is he stable now, at least from an employment and living on his own, or is he still with mama?
The Ramsey Show
Getting Your House In Order Is The First Step To Financial Success
Does he have a job?
The Ramsey Show
Getting Your House In Order Is The First Step To Financial Success
And if he were to be paying you $200 a month, would it make that much difference to you?
The Ramsey Show
Getting Your House In Order Is The First Step To Financial Success
Yeah, but what is he saying now? We've established how this all happened.
The Ramsey Show
Getting Your House In Order Is The First Step To Financial Success
You're very kind. I just... At some point, you can't let people walk all over you like this. What's that?
The Ramsey Show
Getting Your House In Order Is The First Step To Financial Success
Well, I would say this. Yeah, and that's kind of... If you were my sister, and that's how I'm going to react to this, if you were my sister, I would be saying... I would be putting up strong boundary because my concern is the alcoholism and the time. Like my number one concern is not the $200. I'll get to that in a second.
The Ramsey Show
Getting Your House In Order Is The First Step To Financial Success
My number one concern, if you were my sister, would be that's my niece, that's your daughter, and I don't like her with an alcoholic father. I don't care how nice and sweet he is and how many stuffed animals he buys. Yeah. There needs to be a boundary there. And he needs to hit rock bottom. And as long as he's staying with mom and he gets to see your daughter, he's not hitting rock bottom.
The Ramsey Show
Getting Your House In Order Is The First Step To Financial Success
So I would be dealing with that. If it were just the $200, I would say forget it because it's not worth the fight. And I'm not sure it is. And I'm still on that note of it's $2,400 a year. Sure, it'd be great for you to get it. To George's point, he owes it. But, George, I'm more concerned about the alcoholism, the custody, and I might use the $200.
The Ramsey Show
Getting Your House In Order Is The First Step To Financial Success
I might go to the court and go, I need some help with this. And you let him know. Give him some fair warning. Yeah.
The Ramsey Show
Getting Your House In Order Is The First Step To Financial Success
If I were ever a governor of a state, one of the first things I'd do is a deadbeat dad policy. And I'd put them to hard work, hard labor until they shaped up.
The Ramsey Show
Getting Your House In Order Is The First Step To Financial Success
Welcome to The Ramsey Show. I'm Ken Coleman. George Campbell is alongside. We're glad you are with us. 888-825-5225 is the phone number to jump in. Kristen is up in Billings, Montana. Kristen, how can we help?
The Ramsey Show
Getting Your House In Order Is The First Step To Financial Success
If worse comes to worse, the total worth, did you get that number?
The Ramsey Show
Getting Your House In Order Is The First Step To Financial Success
I don't want the tax valuation. If you were to sell all 24 today, a modest projection on what you could get for them? Not a fire sale, but you get market value. What is the worth of all 24, roughly?
The Ramsey Show
Getting Your House In Order Is The First Step To Financial Success
Okay. See, that's the point George is making. I was kind of waiting to go, who cares about the $22,000 over here and the $24,000 there? The $5 million is the number. And you can cash out of those at any time and invest that. I mean, that's just a whole different ballgame. So I could see both sides as well. I really can't.
The Ramsey Show
Getting Your House In Order Is The First Step To Financial Success
No, we're not wringing our hands for you guys.
The Ramsey Show
Getting Your House In Order Is The First Step To Financial Success
You've got properties to manage. Yeah, absolutely. Way to go, Kristen. That's incredible. Well, thank you very much. Five million portfolio. I appreciate the help. Yeah, five million dollars. At 40 years old. You know, she's right. She's talking about that area of Montana is going bananas. People wanting to get out there. You and I should have seen that craze. Should have done it.
The Ramsey Show
Getting Your House In Order Is The First Step To Financial Success
We should have went out there and bought ourselves. You and I, could you imagine with our big cowboy hats and boots? Living off the fat of the land. Yeah. It's always been a dream of mine. Yeah. I see one of us having a blister and the other a splinter.
The Ramsey Show
Getting Your House In Order Is The First Step To Financial Success
Never see a cowboy with glasses on.
The Ramsey Show
Getting Your House In Order Is The First Step To Financial Success
You know what? You make a very good point. They all have 20-20 vision out there. I'm trying to think of the last major movie or television show that had cowboys in it where they were wearing glasses. Who said that you can't be a cool manly cowboy and have vision impairment? I'll tell you what I'm thinking. I'm thinking Jason Priestley's character. He's from 90210. You don't even know that show.
The Ramsey Show
Getting Your House In Order Is The First Step To Financial Success
You're dating yourself. He had a character in Tombstone, and his character wore glasses, but he was a wimpy guy. There you go. This is what I'm saying. So I'm with you. I'm done with it. You know what? Hollywood needs to cast a cowboy with some glasses. And I'm available. America's ready for it. You think so? Yeah.
The Ramsey Show
Getting Your House In Order Is The First Step To Financial Success
Is this a thing? Has one person got in your DMs one time and called you the Costco cowboy?
The Ramsey Show
Getting Your House In Order Is The First Step To Financial Success
Do you have yours? I've got them ready. I was looking for one, actually, as we were talking about you being a cowboy. Ooh, this is a great one for you, Ken.
The Ramsey Show
Getting Your House In Order Is The First Step To Financial Success
Four. That's when you're debt-free with an emergency fund. We've got an emergency fund, and now we have enough margin to do baby stuff for, which then tells me, all right, I've got enough margin to start something on the side. Now, the way the question was worded, it says, when is it best? Is that correct? During what point is it best? Is it best? That's ideal.
The Ramsey Show
Getting Your House In Order Is The First Step To Financial Success
And I got to tell you, I'm very excited. George is ruffled. I'm fired up. And I'll tell you why. I always wanted to be one of those judges on TV. You know what I mean? When people come in and it's Judge Ken, and this is a Judge Ken kind of dream scenario to try to figure out because you've got on one hand, George, the father-in-law does buy the car with his money. And I'm going to make this up.
The Ramsey Show
Getting Your House In Order Is The First Step To Financial Success
Ideal is you've got the financial foundation. I'm not going to get mad at somebody if they are able to start a side hustle, for instance, with very little cash, capital outlay, and it helps pay off debt. In other words, I've talked about this. People have started trash can washing businesses, a lawn mowing business. It's okay if it's that to help us get through the baby steps faster.
The Ramsey Show
Getting Your House In Order Is The First Step To Financial Success
But something that's like, I want to try to live on this and this is my future. I don't like you trying to do that during baby step two and three. And the more the startup costs, the more we say, hey, you need to wait until you are dead free with an emergency fund, my friend. So baby step four is when it's time to start going, okay, what could this look like? Good question, though.
The Ramsey Show
Getting Your House In Order Is The First Step To Financial Success
Johnny from TikTok. Johnny. TikTok. They also call me Johnny TikTok. They call you that? Yeah, nickname from high school. I could combine those and call you the Costco cowboy, Johnny TikTok. This is the Ramsey Show. We'll be right back with more of those dad jokes.
The Ramsey Show
Getting Your House In Order Is The First Step To Financial Success
Welcome back to The Ramsey Show. I'm Ken Coleman, and George Camel is joining me this hour. 888-825-5225. 888-825-5225. You know, George, before we get to the phones, I thought it might be fun to talk nerdy. You know I love talking nerdy. I mean, you talk nerdy about as well as anybody I know. Well, you know more big words than anyone I know. So we both relate in that way.
The Ramsey Show
Getting Your House In Order Is The First Step To Financial Success
And so this is a fun little segment where George nerds out on the fine print, if you will, as the former host of the fine print. Do you still do those? You don't do those.
The Ramsey Show
Getting Your House In Order Is The First Step To Financial Success
And in natural law, That's his car. But he goes to the DMV, and he literally lets Randall sign the title as though it's his. So legally, under the real law, it's Randall's car. Now... Father-in-law wants the money. He sees a little windfall. That's my car. I'm letting you take care of it. He was the best of both worlds. I'm a good father-in-law. I got my daughter, sweet daughter.
The Ramsey Show
Getting Your House In Order Is The First Step To Financial Success
I mean, we all need a little nerdy talk. Some people fell asleep at the wheel.
The Ramsey Show
Getting Your House In Order Is The First Step To Financial Success
In that segment. I think you laid it out beautifully.
The Ramsey Show
Getting Your House In Order Is The First Step To Financial Success
Yeah. I loved it. I thought it was very helpful. So there you go. And by the way, he mentioned it very briefly. I got a call back to it. This is why you want to go to George Campbell's YouTube channel. He's got all kinds of really fun and it's made for you. We break it down for the people. You break it down. You make it fun. You make it palatable. No matter what it is, we make it palatable.
The Ramsey Show
Getting Your House In Order Is The First Step To Financial Success
That is true. Joseph is up next in Dallas, Texas. Joseph, how can we help?
The Ramsey Show
Getting Your House In Order Is The First Step To Financial Success
How are you, sir?
The Ramsey Show
Getting Your House In Order Is The First Step To Financial Success
Well, we're honored to talk to you. What can we help with today?
The Ramsey Show
Getting Your House In Order Is The First Step To Financial Success
What business are you in?
The Ramsey Show
Getting Your House In Order Is The First Step To Financial Success
Oh, okay. And so if I understood you correctly, the anticipated number of 83,000 that you got excited about when you signed on hasn't been met because you've not seen the amount of patients that they said you would need to see in order to hit that number.
The Ramsey Show
Getting Your House In Order Is The First Step To Financial Success
And what is it that you think you should be making? Because you let off by going, I'm not making what I should be. So what is that number?
The Ramsey Show
Getting Your House In Order Is The First Step To Financial Success
Okay. Well, but you anticipated it based on them saying, you'll make roughly this if you see this many patients. So what options do you have? Are there other physical therapy businesses that have a higher foot traffic?
The Ramsey Show
Getting Your House In Order Is The First Step To Financial Success
It's like you buying a car for me as loser husband down the road. Oh, gosh. I don't want to think about that. But, Randall, you aren't a loser at all, I don't think. Just kidding, Randall. So now you've got the situation where he does his favor for you guys. but he wants you to handle the insurance. Now he wants the money. This is manipulative in every sense of the word.
The Ramsey Show
Getting Your House In Order Is The First Step To Financial Success
this you know i'm just trying to make sure i make that right decision so um well the right decision right now at this point in your career how old are you i'm 27 okay at this point in your career with a lot of student loan debt and do you have other debt outside of student loans i do have a car payment but that would be it okay so what's your total amount of debt uh it's
The Ramsey Show
Getting Your House In Order Is The First Step To Financial Success
OK. The answer is really easy. Yeah. We're not staying at a place because we really like it. We need to make money and you need to make as much as money as you possibly can. Now, this is doable. And George, you've coached a lot of people to do this. But, you know, if your call is your question was, should I stay? Is that what I'm getting at?
The Ramsey Show
Getting Your House In Order Is The First Step To Financial Success
Doesn't matter. Doesn't matter. Can you get a job right now where you can get a $15,000, $20,000 bump? You think that's even possible?
The Ramsey Show
Getting Your House In Order Is The First Step To Financial Success
My man, we get the best paying job possible in order to attack this debt with everything you have.
The Ramsey Show
Getting Your House In Order Is The First Step To Financial Success
How much savings do you have?
The Ramsey Show
Getting Your House In Order Is The First Step To Financial Success
I think the proximity principle, because he needs to be leveraging relationships as much as he can to move up the ladder as quickly as he can to be able to take that income and do what you just told him to do. So hang on, we'll give you the proximity principle as well. All right, quick break. George has to gargle with salt water. Thank you.
The Ramsey Show
Getting Your House In Order Is The First Step To Financial Success
And then I'll check on him, make sure he's okay, and we'll be back. This is The Ramsey Show.
The Ramsey Show
Getting Your House In Order Is The First Step To Financial Success
And Randall, this is a problem, but I'm bringing all this up and kind of laying it out here because you have one response. This is not your car legally. You let me use it. He's going to say, yeah, but you know what I did, and I bought it, and blah, blah, blah, blah, blah.
The Ramsey Show
Getting Your House In Order Is The First Step To Financial Success
Welcome back to the Ramsey Show. Alongside George Camel, I'm Ken Coleman. 888-825-5225 is the phone number to jump in. Oh boy, George, I was looking the other day at the calendar and I thought I've got to get with my tax pro. You were dreading it. Not dreading it, but just the very word of tax gives me indigestion.
The Ramsey Show
Getting Your House In Order Is The First Step To Financial Success
It's what I like to call a Tums moment.
The Ramsey Show
Getting Your House In Order Is The First Step To Financial Success
Yeah, Stacy is gathering all of our documents. I am Stacy in this situation. We will meet with our tax pro. And anyway, nonetheless, hey, it's coming around the corner. And one of the best things you can do is to have a good tax pro in your corner. And again, I'm telling you, I'm going to say hi to David. He's local. He listens. So he'll hear this two days from now, and I'll get an email from him.
The Ramsey Show
Getting Your House In Order Is The First Step To Financial Success
David, Stacey, and I love you. We appreciate you, sir. He takes good care of us. He's our tax pro. I'm not kidding around. I sleep very, very well at night knowing David is on the job. And so they help you. He helps us. I mean, he helps us think about so many different angles. Deductions.
The Ramsey Show
Getting Your House In Order Is The First Step To Financial Success
Oh, he's the deduction king. He's amazing. Go to RamseySolutions.com slash TaxPro to find a CPA and enrolled agents that have been vetted by our team at Ramsey. It's RamseySolutions.com slash TaxPro. Do you do your own? No, I've got a TaxPro because, again, it's like getting my loan. You don't do a shout-out for your TaxPro.
The Ramsey Show
Getting Your House In Order Is The First Step To Financial Success
Whoever George's TaxPro is, I tried. I tried. He's not willing to give you some love.
The Ramsey Show
Getting Your House In Order Is The First Step To Financial Success
I didn't think... I have not seen those.
The Ramsey Show
Getting Your House In Order Is The First Step To Financial Success
You won't shout out your tax pro, but you'll give Mary Kay some love.
The Ramsey Show
Getting Your House In Order Is The First Step To Financial Success
You know me. We're having fun, folks. What are you waiting on? Levi's up in Las Vegas. Viva Las Vegas. Levi, how can we help?
The Ramsey Show
Getting Your House In Order Is The First Step To Financial Success
And so you're going to have to come down to not what is right in the grand sense of the word, but what is right for your relationship going forward, unfortunately. And I think there's got to be a meeting in the middle, George, in order to make Thanksgiving bearable.
The Ramsey Show
Getting Your House In Order Is The First Step To Financial Success
And so if I'm understanding, let me jump in real quick just for us and then the folks following along at home. So that's with you both going full time to grad school. That's why we're losing the a hundred thousand dollar income.
The Ramsey Show
Getting Your House In Order Is The First Step To Financial Success
You bet. What's up?
The Ramsey Show
Getting Your House In Order Is The First Step To Financial Success
How is that? You don't have the money. You do not have the money right now to make it. You know that, right? For three years. So I'll tell you what I would do. I'm going to throw this at George because he's crunching the numbers over here. If it were me, I would have your wife continue to work and have her pause grad school. Have her pause grad school. Her two-year program, well, I didn't ask.
The Ramsey Show
Getting Your House In Order Is The First Step To Financial Success
Hers is a lot less money, and we know that. How long is it?
The Ramsey Show
Getting Your House In Order Is The First Step To Financial Success
I would push hers and knock yours out so that you guys can, again, have some income coming in. I know she's going to have a baby, but, and what about health insurance?
The Ramsey Show
Getting Your House In Order Is The First Step To Financial Success
I almost want to push his back another year.
The Ramsey Show
Getting Your House In Order Is The First Step To Financial Success
If she's not in grad school, if we do the plan that I'm suggesting, where we wait for her to go to grad school after you're finished, but she has the baby, what kind of income does she bring in?
The Ramsey Show
Getting Your House In Order Is The First Step To Financial Success
That's like a part-time babysitting job.
The Ramsey Show
Getting Your House In Order Is The First Step To Financial Success
Yeah, but you guys are going to starve. You called us and asked us what we thought. We don't think you've got enough money to do this. So I would delay either her, and she goes and gets a $40,000, $50,000 job at minimum to be able to make up the difference. And that means somebody's watching the baby while she's working. I mean, you guys got to figure this out.
The Ramsey Show
Getting Your House In Order Is The First Step To Financial Success
You may have to push your grad degree off two years. You go get a good job. Push it off a couple years. Have baby.
The Ramsey Show
Getting Your House In Order Is The First Step To Financial Success
I'm with you, George. And Levi, I'm talking like I'm old enough to be your dad, so here you go. Plenty old enough. Thank you, George. The baby is the number one dream right now. Yeah. And let's, you've done very well to put that money away. And to stay debt free.
The Ramsey Show
Getting Your House In Order Is The First Step To Financial Success
You are not hurting your professional, listen to me Levi, you are not hurting your professional chances and your potential by delaying this a year or two. Okay. Let's get the wife out of school. a part-time job or full-time mama, and you're working full-time, we keep stacking cash. Please take your time on this. Don't rush this. George, thoughts on that final word? No, I'm with Papa Ken over here.
The Ramsey Show
Getting Your House In Order Is The First Step To Financial Success
You told her she's not allowed to talk to her parents? This is a soap opera.
The Ramsey Show
Getting Your House In Order Is The First Step To Financial Success
Yeah. That education will still be there. Trust me. All right, George. Good hour. Good stuff. Appreciate all of you for listening. Thanks to our crew for keeping us on the air. This is The Ramsey Show. The right questions are the key to unlock personal and professional potential. That means if you're not where you want to be, you are not asking the right questions.
The Ramsey Show
Getting Your House In Order Is The First Step To Financial Success
I'm Ken Coleman, and this is what my new show, Front Row Seat, is all about. Over my career, I've had the distinct privilege to interview successful people from all walks of life and to coach over 10,000 professionals who wanted more. What sets successful people apart is a never-ending desire to learn and grow.
The Ramsey Show
Getting Your House In Order Is The First Step To Financial Success
Each week, I'll be joined by industry leaders and world-class experts to have a conversation about how to get better, move up, and lead well in work and life. But the best part of this show is you get to be a part of the conversation. Live in studio, we'll have a group of professionals just like you who have the power to ask questions and steer the discussion in real time.
The Ramsey Show
Getting Your House In Order Is The First Step To Financial Success
No, you don't tell your wife she's not allowed to talk to her parents.
The Ramsey Show
Getting Your House In Order Is The First Step To Financial Success
It's an opportunity to get real answers to real questions. like how to make the right decisions, have hard conversations, live a balanced life, and discover your next steps to growth. Join us every Tuesday for conversations that are guaranteed to surprise, challenge, and inspire you. Check out Front Row Seat wherever you get your podcasts.
The Ramsey Show
Getting Your House In Order Is The First Step To Financial Success
Oh, that's kind of you. Kind of you. We said our piece. This is The Ramsey Show.
The Ramsey Show
Getting Your House In Order Is The First Step To Financial Success
Oh, no. So much going on in that sentence.
The Ramsey Show
Getting Your House In Order Is The First Step To Financial Success
Welcome back to The Ramsey Show alongside George Camel. I'm Ken Coleman. And George, we were just talking about it during the break. I'm very excited. Been working on a new show format for some time, and it's now out. It's called Front Row Seat.
The Ramsey Show
Getting Your House In Order Is The First Step To Financial Success
And this is a conversation show. For those that have been around a long time, if you've been in your 30s or 40s, 50s, you'd know the show Inside the Actor's Studio. And you also know MTV, Unplugged. It's got that feel to it.
The Ramsey Show
Getting Your House In Order Is The First Step To Financial Success
Intimate. We have an audience of 12 to 15 people that surround me and a guest. And we have a deep dive conversation designed to help you get better personally, to move up professionally. and to lead effectively. And so that's what the show is all about. And so we're off and running on YouTube and wherever you get your podcasts. So you can check it out.
The Ramsey Show
Getting Your House In Order Is The First Step To Financial Success
New episodes every Tuesday, again, on YouTube. It looks fantastic. The team did such a great job.
The Ramsey Show
Getting Your House In Order Is The First Step To Financial Success
You've seen the set. I have nothing to do with that. At all.
The Ramsey Show
Getting Your House In Order Is The First Step To Financial Success
When I joined Ramsey 10 years ago, I was an interview specialist and for years hosted the Entree Leadership Podcast before I handed it off to you. That's why I first saw you, Ken, what, 13 years ago now?
The Ramsey Show
Getting Your House In Order Is The First Step To Financial Success
At a leadership event.
The Ramsey Show
Getting Your House In Order Is The First Step To Financial Success
You're being a little too kind. That's too kind. But I appreciate it. But anyway, it's called Front Row Seat. Check it out on YouTube. Some great guests you've got that have already launched that are coming up. Oh, we've got some big names coming. We launched with Nikki Haley, former presidential candidate. Oh, yeah. And that was interesting. Not political conversation. Don't worry.
The Ramsey Show
Getting Your House In Order Is The First Step To Financial Success
Those of you who immediately got your accolades. Oh, she did this and she said that. Now, look, when was the last time you sat down with somebody that you agreed with on everything? You didn't. You haven't. So we like to have conversations across the board designed, again, to help you get better. That means you're bringing a better version to work so you can move up.
The Ramsey Show
Getting Your House In Order Is The First Step To Financial Success
And for those that are moving up, you're going to lead at some point. So it's for professional development and growth. So go subscribe. Oh, yeah, go subscribe on YouTube and podcasts. Front Row Seat with Ken Coleman. All right, let's get to the phone. Steve is in Richmond, Virginia, my old stomping grounds, George. Steve, how can we help?
The Ramsey Show
Getting Your House In Order Is The First Step To Financial Success
Okay. And did you kill the moose?
The Ramsey Show
Getting Your House In Order Is The First Step To Financial Success
Well, what's going on with them financially to where their house is about to be foreclosed on?
The Ramsey Show
Getting Your House In Order Is The First Step To Financial Success
There's a lot going on. I was already nervous about you just buying a house. We would run the numbers, and George will walk you through that, because this is like buying another house. That you're going to lose money on because your tenants are broke, and I don't think they could pay you rent. This is a disaster waiting to happen. For you so far, the disaster has evaded you.
The Ramsey Show
Getting Your House In Order Is The First Step To Financial Success
Hey, I got to tell you, George, you may not know this about me, but back when I was in my early 20s, I worked on a Senate race in Alaska and spent a summer campaigning in Alaska. I did not know that. And so you would see moose at nighttime just chewing on people's trees in their front yard, like we see deer. Are they a real nuisance over there, Randall? Oh, yeah.
The Ramsey Show
Getting Your House In Order Is The First Step To Financial Success
So what price would you pay for it right now? I'm trying to figure out, George, do you have a mortgage? Because you said you were blessed, and I didn't hear amazing blessing in the form of crazy numbers that would set you up to buy this house.
The Ramsey Show
Getting Your House In Order Is The First Step To Financial Success
They're going to live for free is what's going to happen, Steve. They can't afford to pay rent.
The Ramsey Show
Discipline Is the Key to Building Wealth
Did you ask him why he thinks they're a scam? Was there any kind of follow-up on that particular classification of it?
The Ramsey Show
Discipline Is the Key to Building Wealth
You know, we were talking about this when you were on Front Row Seat, but I want to bring this up because I think there's clear data now. We can look at CEOs. We see a correlation between healthy people and actually financially wealthy as well. It's pretty interesting how that correlates. And I think a lot of people overlook their physical health, right? Because they go, hey, I'm doing well here.
The Ramsey Show
Discipline Is the Key to Building Wealth
What have you seen on that and how do you correlate those in the book?
The Ramsey Show
Discipline Is the Key to Building Wealth
You know, we were talking earlier, Sahil, I want you to share this because we agree on this. This book has really taken off. It's hit a nerve. And the title itself is somewhat provocative without trying to be, The Five Types of Wealth. But in America today, we're beginning to see kind of a groundswell, a negative groundswell that's anti-successful people. Why do you think that's happening?
The Ramsey Show
Discipline Is the Key to Building Wealth
That's where that book came from, by the way. I want to brag on him. I had been following you for years because of that newsletter. And even on X, you would put out these little nuggets. And he lives what he believes on that. That's how this book came about. You tested this content for a long time. And now you're seeing the results of it.
The Ramsey Show
Discipline Is the Key to Building Wealth
Today's question comes from Craig in Delaware. Data.
The Ramsey Show
Discipline Is the Key to Building Wealth
Yeah, I'm going to recommend, Emily, I'm going back to the days when I taught all three of my kids to ride a bike. And if, in fact, he is truly scared of this product, 401k, because he doesn't understand it, maybe there was corruption, all the things that Dave pointed out. If, in fact, he's truly afraid of it, and that's why he calls it a scam, then, in fact, now you can deal with fear.
The Ramsey Show
Discipline Is the Key to Building Wealth
Yeah, and be paying attention, folks. It's two weeks away. RamseySolutions.com slash SmartTax, by the way. That's where you go. Fabulous product. If you have a simple return. If it's simple.
The Ramsey Show
Discipline Is the Key to Building Wealth
Because he doesn't understand it. So it's like teaching someone to ride a bike. They're scared to death to ride a bike. So what do you do? You put training wheels on first, right? And then you move from training wheels to I would hold the back of the seat and I would run with them for a bit. The point is, this is going to be a gradual teaching process for you, I think.
The Ramsey Show
Discipline Is the Key to Building Wealth
Well, yeah, I've got to tell you. I was going to be your huckleberry there. I was going to jump in and help out, but I'd have to run it by Stacy first. But in all honesty, why is the 10K the number? Is that all you've got left in the 529 that you need to fund? It's a baby. That's what I'm saying.
The Ramsey Show
Discipline Is the Key to Building Wealth
Keep the car, man. This is from two guys who have classic cars.
The Ramsey Show
Discipline Is the Key to Building Wealth
It's the only shot that I will willingly take. I'll say that. And the booster. It's pretty great. What are the side effects? Being called weird, sleeping peacefully.
The Ramsey Show
Discipline Is the Key to Building Wealth
Could you imagine? Ramsey Solutions is in big pharma, baby. We figured it out.
The Ramsey Show
Discipline Is the Key to Building Wealth
Oh, this one says debt and mortgage on it. This one says Baby Steps Millionaire.
The Ramsey Show
Discipline Is the Key to Building Wealth
So the boosters get you to Baby Steps Millionaire.
The Ramsey Show
Discipline Is the Key to Building Wealth
It really is. I would take him to your SmartVestor Pro if you have one, if you don't need to get one. But I would literally take him in there, and I'd honor all of his questions. If in fact, and Dave and I don't know, but if in fact he's scared, I think the best way to help someone who's scared is to honor their fear. Well, there's two types of fear.
The Ramsey Show
Discipline Is the Key to Building Wealth
David, I'm going to warn you. You agree with everything Dave said, rightfully. But you're going to go out and tell people that don't know what we teach or have no idea who we are or why we are the way we are, and they're going to try to talk you out of this because you've got a good income. They're going to tell you to live a little and enjoy it.
The Ramsey Show
Discipline Is the Key to Building Wealth
I'm telling you, you've got to have that engineer brain fully engaged right now and treat this as a problem that you can solve and you know how to solve it. On the other side of this... You are going to stack wealth really, really quickly, and you're going to have no stress in your life when it comes to finances. So please remember that when somebody tries to talk you out of it, because they will.
The Ramsey Show
Discipline Is the Key to Building Wealth
Oh, it's only another year of ramen noodles, Dave. He can do it. Or whatever college kids eat on the cheap.
The Ramsey Show
Discipline Is the Key to Building Wealth
And I just want to point out again, when you're in a relationship and you're not on the same page and it's really fear holding the spouse or a boyfriend or girlfriend back.
The Ramsey Show
Discipline Is the Key to Building Wealth
honor their questions don't dismiss them don't always try to explain them let them sit in that and ask the questions and get with somebody a third party in this case a smart investor pro who can answer every question about fraud and anything like that and then hopefully they get there and the light bulb goes off and now we're on the same page yeah it's it's tempting to roll your eyes at something that's stupid that's right but it but you can't you got to honor it and go okay there's a reason for this and then let's get to the root of why and can we solve for it so we can go forward
The Ramsey Show
Discipline Is the Key to Building Wealth
Yeah, this becomes primary focus right now. That is, who do I know? Connections, connections, connections. It's a big marketplace in Atlanta. So I'm looking to upgrade as quickly as I can or take on some fractional HR duties, maybe for some smaller businesses. And I'm thinking, what do I have to do to make an additional two to three grand a month?
The Ramsey Show
Discipline Is the Key to Building Wealth
No, but I can tell you how many times great opportunities come to people when you start telling everybody to listen. And your friends, your family, your acquaintances, you have got to put the word out that you've got talent, you've got experience, and you're looking to work. And that's how you increase your income quickly.
The Ramsey Show
Discipline Is the Key to Building Wealth
And you get a couple quick wins if you get some contract work, even something like that. Here's what I don't want you to do. I don't want you to default to getting in your car And driving rideshare. I'm not against that at all. You don't need to do that. You have too many tools in your belt. Too much talent for your time.
The Ramsey Show
Discipline Is the Key to Building Wealth
It does. And one of the things that people overlook is the most underutilized question in the world, Dave. When we're talking about professional advancement and getting more income, it's this. Will you help me? This isn't a handout type question. It is a, I'm a mom. I got four babies. I'm trying to get out of debt. It's a compelling story. People respond to that kind of stuff.
The Ramsey Show
Discipline Is the Key to Building Wealth
to say, hey, I'm looking for work over here. I'm an HR pro. I can do this, this, and this, and here's why I'm doing it. I want to get out of debt. I want to have an emergency fund, set my babies free on this journey. People love to help people who are helpable, and this is a great story. So we can't forget. I know there's a lot of people listening and watching us right now.
The Ramsey Show
Discipline Is the Key to Building Wealth
When you share a story that's tied to a vision, of becoming debt-free, of building an emergency fund, all the kind of things, changing your family tree. People respond to that. You'd be surprised, but we forget that the narrative is what's attractive to people because they want to help somebody who's helpable.
The Ramsey Show
Discipline Is the Key to Building Wealth
By the way, opportunities, and you know this, they show up for people like that.
The Ramsey Show
Discipline Is the Key to Building Wealth
And you've got $3,000 in savings. Baby step one is actually just $1,000. So you've got $2,000 that you need to be putting on that car today.
The Ramsey Show
Discipline Is the Key to Building Wealth
Yeah, I just would underscore what Dave said. We have heard so many debt-free screams just right across the studio here, and every time their income goes up. I'm not saying it's always the case, but I've never heard one.
The Ramsey Show
Discipline Is the Key to Building Wealth
And to your point, it is the momentum, mental and emotional momentum of the Baby Steps is what's the genius about it. When you start ticking off the debts, even in Baby Step 2 – Momentum takes place, and good things happen to people who have momentum. I'm just telling you. It's not a mystery. Because you're happening to life instead of life happening to you.
The Ramsey Show
Normal Is Broke and in Debt. Do You Want To Be Normal?
Yeah, I get it. George, that's a great suggestion. Jason, honestly, bro, you've got some self-belief issues. Okay. So that's going to need to be dealt with, number one. But the best way to kind of...
The Ramsey Show
Normal Is Broke and in Debt. Do You Want To Be Normal?
deal with this you're down in the dumps dude you sound like uh what maybe a balloon that's lost all its air would sound like if they were talking that's what you sound like and i'm not making fun of you i'm saying that's what it sounds like you sound so deflated but george is right bro you can make 2500 between now and that wedding day and i would start doing it okay now sell something
The Ramsey Show
Normal Is Broke and in Debt. Do You Want To Be Normal?
If you can't sell something and come up with $300, go sell it for somebody else. Go to all your friends. I mean, I'm telling you, bro, this is your chance to feel good about yourself. I understand why you're deflated. But, man, this is an opportunity for you to go, wait a second. I can earn $2,500 between now and wedding day, and I'm going to absolutely die trying.
The Ramsey Show
Normal Is Broke and in Debt. Do You Want To Be Normal?
And I'm going to do it, and I'm going to find all the ways to do it, and that's all I'm doing. I'm waking up going, you need a poster board in your bedroom on your mirror looking at Some type of a thermometer that people do.
The Ramsey Show
Normal Is Broke and in Debt. Do You Want To Be Normal?
What kind of cash do you have? About $200,000. And what's that sitting in?
The Ramsey Show
Normal Is Broke and in Debt. Do You Want To Be Normal?
Come hell or high water. Yeah. So, I mean, let's go. And then here's the deal. And then enter into this marriage all in with your wife-to-be.
The Ramsey Show
Normal Is Broke and in Debt. Do You Want To Be Normal?
That's right. And tell her, I'm going to come up with a $2,500, babe. Don't worry about it. I may not see much of you, but it's going to be a great wedding. This is The Ramsey Show.
The Ramsey Show
Normal Is Broke and in Debt. Do You Want To Be Normal?
Welcome back to The Ramsey Show. Alongside George Camel, I'm Ken Coleman. Phone number is 888-825-5225. 888-825-5225. Hey, it's time for our question of the day, brought to you by our good friends at YRefi. Now, you know we don't recommend refinancing on everything, but for distressed private student loans, there's YRefi. We trust YRefi because they help you with a low fixed interest rate.
The Ramsey Show
Normal Is Broke and in Debt. Do You Want To Be Normal?
that you couldn't get anywhere else to help you stick to your budget and get out of debt, learn more at yrefy.com slash Ramsey. That's the letter Y, R-E-F-Y dot com slash Ramsey. It may not be available in all states.
The Ramsey Show
Normal Is Broke and in Debt. Do You Want To Be Normal?
I'm actually interested to see what you say about this.
The Ramsey Show
Normal Is Broke and in Debt. Do You Want To Be Normal?
So as a technology, the blockchain, it's here. Yeah. And I would say Bitcoin is here. I'm not saying Bitcoin can't fall. I'm not saying I disagree with anything you said. In fact, I agree with everything.
The Ramsey Show
Normal Is Broke and in Debt. Do You Want To Be Normal?
I would say to somebody, yeah, if you want to invest in Bitcoin, I would treat it just like we tell people to go sit down with a smart investor pro and learn about the strategies so that you understand what you're doing. But I agree with you that it should be a part of a diversified strategy, not all eggs in that basket. I agree with that. And that's just smart investing strategy.
The Ramsey Show
Normal Is Broke and in Debt. Do You Want To Be Normal?
But I will say this. My position on crypto and Bitcoin early on was it's risky right now, but there will come a day, and I still hold this, And I think Trump, by the way, is already rattling his saber on this. Well, he's already made a bajillion dollars doing it. He has. So, of course, he's a fan.
The Ramsey Show
Normal Is Broke and in Debt. Do You Want To Be Normal?
I know, but I'm saying you're going to see this become regulated just like banking, just like their stocks. And I think when it becomes regulated, because it will on some level. Some people would take issue with me on that, and I'm okay with that. I am making a prediction here. But I believe that once it's regulated, I believe it becomes far more stable.
The Ramsey Show
Normal Is Broke and in Debt. Do You Want To Be Normal?
I'm not a fan of regulation as a whole, but there needs to be, it's the wild, wild west right now. Yeah. No, I'm with you on that. I think there will be a mutual fund filled with different cryptocurrencies. No question, Steve. So diversification is the answer. I agree with you.
The Ramsey Show
Normal Is Broke and in Debt. Do You Want To Be Normal?
Welcome to the Ramsey Show, where we help you win in your life, specifically with your money, with your work, and in your relationships. Alongside George Campbell, I'm Ken Coleman. Thrilled to be with you guys today. 888-825-5225 is the number to jump in. 888-825-5225. All right, let's start it off with Amy in Minneapolis. Amy, how can we help?
The Ramsey Show
Normal Is Broke and in Debt. Do You Want To Be Normal?
I just wanted to add that little two cents there that I don't think you should feel like, oh, it's stupid to invest in it. No, I think it's just like any other investment. You got to do your homework. What level of risk? If you sit down with a good professional, so we talk about the smart investor pros that are out there, okay, and we link to them and you can go meet them.
The Ramsey Show
Normal Is Broke and in Debt. Do You Want To Be Normal?
You talk with any investment professional, one of the first things they're going to talk to you about is where are you at, where are your finances, and what's your level of risk? Okay. And so I would treat any crypto thing as a high-risk thing right now.
The Ramsey Show
Normal Is Broke and in Debt. Do You Want To Be Normal?
You're investing in an alternative currency, and that's the bet. It's like gold.
The Ramsey Show
Normal Is Broke and in Debt. Do You Want To Be Normal?
All right, great. Let's go to Alicia who's joining us in San Antonio, Texas. Alicia, how can we help?
The Ramsey Show
Normal Is Broke and in Debt. Do You Want To Be Normal?
It doesn't sound safe. You mean meeting strangers to look at the car?
The Ramsey Show
Normal Is Broke and in Debt. Do You Want To Be Normal?
Thanks for the call, Alicia. You can do this. I've done this so many times over the last couple years, buying cars for my teenagers and selling. All right, quick break. We'll be right back. He's George Campbell. I'm Ken Coleman. This is The Ramsey Show.
The Ramsey Show
Normal Is Broke and in Debt. Do You Want To Be Normal?
Welcome back to The Ramsey Show. Thrilled to have you with us, America, alongside George Camel. I'm Ken Coleman. 888-825-5225 is the phone number. Hey, there's a lot that happens in your mind, in your emotions, and just activities when it comes to buying and selling a house, and that leads to feeling paralyzed. feeling overwhelmed. And so we created Ramsey's Real Estate Home Base, right?
The Ramsey Show
Normal Is Broke and in Debt. Do You Want To Be Normal?
Just kind of a safe place. What's there at the Ramsey Real Estate Home Base? Calculators, start to finish guides, how-to articles, a podcast, a book, and even a video course, all with steps that you can take to navigate the buying or selling process. So if you're ready to take the next step, do it with confidence.
The Ramsey Show
Normal Is Broke and in Debt. Do You Want To Be Normal?
Go to ramseysolutions.com slash real estate, ramseysolutions.com slash real estate, or you can click the link in the show notes if you're watching, listening on YouTube or podcast. Let's go to Ottawa, Canada now. Sue is there. Sue, how can we help?
The Ramsey Show
Normal Is Broke and in Debt. Do You Want To Be Normal?
Are you talking about collections?
The Ramsey Show
Normal Is Broke and in Debt. Do You Want To Be Normal?
Sue, don't answer the calls. You talk to one person in a supervisor role at all these different places and say, we are going to pay you back. And this is when I'm going to do it. And you get it in writing. Say every Friday I'm going to call you with an update. But don't call me. I will not pick up. But you will hear from me. You don't have to answer their call. They are not the law.
The Ramsey Show
Normal Is Broke and in Debt. Do You Want To Be Normal?
No, no. This is all they're doing is using tactics to try to get as much money out of you as fast as they can. But they have no, they're not going to sue you. They don't want to do that. This is a tactic. So you mean, I mean, is there anything, any money that you have that you could pay some of this stuff off today? That'll get them off your back if you just pay something.
The Ramsey Show
Normal Is Broke and in Debt. Do You Want To Be Normal?
Not all of it, but something. George, I mean, I know we got the snowball.
The Ramsey Show
Normal Is Broke and in Debt. Do You Want To Be Normal?
Yeah. And it's really important when you use the right word. What would you do if you were on a playground right now and somebody started bullying you? Be an adult knowing what you know. You know what you'd do? You'd go, knock this off. Knock it off. What are we doing? This is the dumbest thing I've ever heard. This is stupid. You're not going to punch me. Get out of my face.
The Ramsey Show
Normal Is Broke and in Debt. Do You Want To Be Normal?
And you've got to do that with these collections, folks. They're the worst. All right, Sue, we're rooting for you. This is The Ramsey Show.
The Ramsey Show
Normal Is Broke and in Debt. Do You Want To Be Normal?
Welcome to the Ramsey Show America, where we help you win with your money, win in your profession, and win with your relationships. Phone number to jump in is 888-825-5225. That's 888-825-5225. Thrilled to be alongside my pal. The smartly attired and well-equipped financial guru. He is the one, the only. That's impressive. George Camel with a K. I'm elated to be with you, Ken. Elated. Elated?
The Ramsey Show
Normal Is Broke and in Debt. Do You Want To Be Normal?
That's a good word. Let's see if we can keep that going. Looks like we're going to Ken in Denver, Colorado. Oh, there's a lot of Kennergy right now. Ken, how can we help?
The Ramsey Show
Normal Is Broke and in Debt. Do You Want To Be Normal?
You didn't acknowledge the Kennergy joke at all? Just went right over your head? Not interested?
The Ramsey Show
Normal Is Broke and in Debt. Do You Want To Be Normal?
Okay, gotcha. And what do you make?
The Ramsey Show
Normal Is Broke and in Debt. Do You Want To Be Normal?
All right. Well, let me just tell you, the reason you feel stuck and that you've hit a lid is because you have nothing against state employees. I have been criticized before when I say state government is is kind of a dead end. And it is. It's not because I think it's bad. It's because it is. And I used to work for the governor of Virginia. So.
The Ramsey Show
Normal Is Broke and in Debt. Do You Want To Be Normal?
Jeez, people, when I say facts, understand what I'm saying. And Ken, you can agree you're stuck because it is a state agency and there's only so many rungs on the ladder, correct? Right. All right, great. So you're stuck. But the great news about this is it's not because of you. It's because of where you are.
The Ramsey Show
Normal Is Broke and in Debt. Do You Want To Be Normal?
So the question becomes, where do you take all this experience you have up to this point in your career and all the skills you've developed, how do you transfer those to the, let's just say, private sector, so you don't have to leave the Denver area or surrounding area, and you can go, okay, I can step in, and I got not only a chance to make more money, but I've got a ladder of growth.
The Ramsey Show
Normal Is Broke and in Debt. Do You Want To Be Normal?
So what does that look like? If I were to just say to you, Ken, based on your skill and experience to this point, what would be the low-hanging fruit or the obvious choices to at least kick the tires on?
The Ramsey Show
Normal Is Broke and in Debt. Do You Want To Be Normal?
You just have no room for advancement, and that is a depressing place to be.
The Ramsey Show
Normal Is Broke and in Debt. Do You Want To Be Normal?
Exactly. So you exchange a little bit of extra money for doing something you don't enjoy. So you've already nailed it. So I love this. So we want to write down, if you and I were in a room with a whiteboard, I would write down training slash instructing. That's, if we can get a gig...
The Ramsey Show
Normal Is Broke and in Debt. Do You Want To Be Normal?
where you spend the majority of your day training or instructing, you're going to be a pretty satisfied fellow, right?
The Ramsey Show
Normal Is Broke and in Debt. Do You Want To Be Normal?
All right. So we start there. So now we start to look in and around Denver. We go, okay, what are anything that's got the word trainer, instructor in it? I mean, this could be across the board, a lot of different industries. You acknowledge that?
The Ramsey Show
Normal Is Broke and in Debt. Do You Want To Be Normal?
Oh, okay. Take everything I just said and just delete the word Denver. But the point is, is you're looking in your area, let's say a 30 mile radius, right?
The Ramsey Show
Normal Is Broke and in Debt. Do You Want To Be Normal?
Let's look. And so you've got to see what's out there and see what is transferable for you. And I would tell you that your skill set and your experience is transferable to probably a lot of different places. And so the story, the narrative is great, too. Ken, why are you considering leaving your current job? I love it. I love the work, but I'm in state government.
The Ramsey Show
Normal Is Broke and in Debt. Do You Want To Be Normal?
And so there's very little opportunity for advancement. The only advance would be into a role that's not doing this. And so I'm ready to move into the private sector. That's a great answer. George, isn't that a great answer? That doesn't sound flaky. No. And it also sounds impressive. You've been trained by the state. And so we got some credibility there. You got a long track record.
The Ramsey Show
Normal Is Broke and in Debt. Do You Want To Be Normal?
Good performance reviews, correct?
The Ramsey Show
Normal Is Broke and in Debt. Do You Want To Be Normal?
Let's go. That's what you're looking for. Now, I wanted to jump in right away, but now I want to give you a chance to ask any questions around what I've said, because that's what I wanted you to hear right out of the gate. That's where you would start. I'm not saying you're limited to what advice I just gave, but you would certainly start there.
The Ramsey Show
Normal Is Broke and in Debt. Do You Want To Be Normal?
So what questions do you have that we've not answered?
The Ramsey Show
Normal Is Broke and in Debt. Do You Want To Be Normal?
Sure, as long as there's no interruption of income.
The Ramsey Show
Normal Is Broke and in Debt. Do You Want To Be Normal?
Okay. Yeah. You're just doing a search for training, instruction, instructor work, and seeing what all is out there. And I think there might be some contract work you could pick up right now.
The Ramsey Show
Normal Is Broke and in Debt. Do You Want To Be Normal?
before you even decide what's the next full-time move that's what i'll be looking for just to get momentum and baby step two but here's the deal you're going to be okay yes you can make the transition but you make the transition when you step off of one boat right onto the next boat all right no jumping out in the water yeah yeah you got this ken let's go man i need some kennergy out of you i'll give you the last word are you confident
The Ramsey Show
Normal Is Broke and in Debt. Do You Want To Be Normal?
Are you confident now? I'm getting there. All right, my man. He needed a little Kinergy, George. That's all you need sometimes. Yeah. I think that's my allotment for saying that word. Yeah, we're done. Notice I stopped? No, it's over. I think that's like three or four times too much. This is the Ramsey Show.
The Ramsey Show
Normal Is Broke and in Debt. Do You Want To Be Normal?
Welcome back to the Ramsey Show. Thrilled that you are with us. Alongside George Campbell, I'm Ken Coleman. The phone number is 888-825-5225. Let's go to Austin, Texas. And Jake is waiting for us there. Jake, how are you? Good. Hello, Ben. We're having a good time. We can't hear you real well. Give me another little sound check there.
The Ramsey Show
Normal Is Broke and in Debt. Do You Want To Be Normal?
Oh, there we go. I don't know what you did. The flick of the wrist, man. Nice move.
The Ramsey Show
Normal Is Broke and in Debt. Do You Want To Be Normal?
No, no, we know all this, Jake. We know how the scam works. We're just telling you it's a scam. Yeah, so saving you a little bit of time, anything you tell us that they told you, we've heard. Yeah. So George is feisty today. Very feisty. I just hate. I believe you ate and left no crumbs. Is that what the kids say? Yeah.
The Ramsey Show
Normal Is Broke and in Debt. Do You Want To Be Normal?
You just gave me a great idea for a segment that James will never approve. Hit me. Pitch it. We could do old school shock jock kind of radio, but nothing shocking. And we would be on with Jake. Listen, hear me out. Okay. We would be on with Jake right now, and we would have James and the fancy, you know, they're all smart back there. And they could dial up this guy's advisor. Oh, we hear it live.
The Ramsey Show
Normal Is Broke and in Debt. Do You Want To Be Normal?
And the guy answers. Jake's on the call. We're over here. And Jake goes, hey, so-and-so. Listen, I'm getting back to you on the proposal. I got a couple guys with me on here. And you and I now jump in and we go, hey, so-and-so. It's Ken and George from the Ramsey Show. And we just had a great talk with Jake. And Jake has authorized us to say this to you. No thanks. And we hang up the phone.
The Ramsey Show
Normal Is Broke and in Debt. Do You Want To Be Normal?
That's it. We do it for him. It's not ugly. Yeah. It's not unkind. I'm sure. But you just said no thanks. And I like it's no thanks.
The Ramsey Show
Normal Is Broke and in Debt. Do You Want To Be Normal?
Do you like that? I love it. It's not unkind and we're not trying to be rude, but it's a kind of you're fired. But it's like, by the way, you're on the Ramsey show and no thanks. I'm just impressed James like one of your ideas. You know how rare that is? Well, to be fair to James, my ideas are not necessarily very easy for him to understand.
The Ramsey Show
Normal Is Broke and in Debt. Do You Want To Be Normal?
I know. I'm actually making James out to be. He's very nice. He's one of the nicest people on the planet.
The Ramsey Show
Normal Is Broke and in Debt. Do You Want To Be Normal?
No, I thought it was fun, James. I really didn't think it was a serious pitch. But if we could do that, I do think it would be entertaining. Here's why I'm saying this. Jake calls. Here's what's going on. How many times do we get that call in a given month about whole life? Probably five, five or six at least. But this is an industry that still thrives. Yes. They're still out there.
The Ramsey Show
Normal Is Broke and in Debt. Do You Want To Be Normal?
And, boy, if you've ever heard Dave talk about whole life, holy smokes. I mean, when we get a whole life called it. Oh, my gosh. When he calls, I put a helmet on. I think whole life hurt Dave as a child. There's that level of anger and trauma involved. Anyway, no thanks, Jake. George gave you, I like those very kind, because you're a classy guy. Yeah, I don't want to be a jerk. No thanks.
The Ramsey Show
Normal Is Broke and in Debt. Do You Want To Be Normal?
That's our new thing. No thanks. Kathleen is up next in Chicago. Kathleen, how can we help?
The Ramsey Show
Normal Is Broke and in Debt. Do You Want To Be Normal?
You're breaking up on us, Kathleen. Speak directly into your phone. Kathleen, I don't know if you're in a bad sell zone, but we can't hear you.
The Ramsey Show
Normal Is Broke and in Debt. Do You Want To Be Normal?
I was going to suggest that, but I didn't want to be too bold.
The Ramsey Show
Normal Is Broke and in Debt. Do You Want To Be Normal?
You're very trusting. Well, Kathleen, let me tell you what Kathleen is. Kathleen is paying attention to the headlines, aren't you, Kathleen? You're in the news.
The Ramsey Show
Normal Is Broke and in Debt. Do You Want To Be Normal?
I know. That's where that comes from, George. Tell her about the bubble.
The Ramsey Show
Normal Is Broke and in Debt. Do You Want To Be Normal?
Yeah, and Kathleen, this is a little extra advice you didn't ask for. I'd look at your cell phone carrier. I might switch carriers. That's a good call, Ken. You don't want to be near the window all the time. You deserve better cell signal in retirement. That's all I'm saying. I agree. You don't want to have to be stuck in one place of the house just to make a good call.
The Ramsey Show
Normal Is Broke and in Debt. Do You Want To Be Normal?
So I think you deserve better. We need to look into Wi-Fi calling on the show.
The Ramsey Show
Normal Is Broke and in Debt. Do You Want To Be Normal?
I've got to look into it. He's going to look into it. We've pushed way too much. We need to settle down. Hey, quick break. Don't go anywhere. People are lining up to get coached up. You don't want to miss it. This is The Ramsey Show.
The Ramsey Show
Normal Is Broke and in Debt. Do You Want To Be Normal?
Welcome back, America. You're joining the conversation about you, your life, how to win with your money, winning your profession. win with your relationships here on the Ramsey Show. Alongside George Camel, I'm Ken Coleman. Phone number is 888-825-5225. 888-825-5225. Let's go to Detroit. And William is there. William, how can we help?
The Ramsey Show
Normal Is Broke and in Debt. Do You Want To Be Normal?
We're having a blast. How can we help?
The Ramsey Show
Normal Is Broke and in Debt. Do You Want To Be Normal?
Listen, you're dropping scripture, George. There's no shame in your game. Here's my question. So William, you're not calling because the pastor is preaching this and trying to lead the flock and all this. He's not anti you and your wife being a part of the baby steps and FPU and all that stuff.
The Ramsey Show
Normal Is Broke and in Debt. Do You Want To Be Normal?
It's just when you guys are having conversation, you're kind of on fire and you're talking about all this, and this is just kind of two dudes talking, and he just kind of glibly throws out, yeah, you know, and this kind of just bothers you a little bit. Is that what I'm getting?
The Ramsey Show
Normal Is Broke and in Debt. Do You Want To Be Normal?
What is your question for us?
The Ramsey Show
Normal Is Broke and in Debt. Do You Want To Be Normal?
Got it. So are you having this conversation all the time with him?
The Ramsey Show
Normal Is Broke and in Debt. Do You Want To Be Normal?
So, William, I feel you. I understand what you're saying. However, I think you've got this thing worked up really big in your mind, and I think it's actually not that big a deal. And here's what I mean. If his view on debt as your pastor— has got you to a place where you just are uncomfortable with him on other issues, it's time for you to go find another church.
The Ramsey Show
Normal Is Broke and in Debt. Do You Want To Be Normal?
However, I want to point out that as a pastor's kid, that you have to decide, what does that relationship look like? What do I want it to look like? And is this something that is worthy of me leaving the church? And if it is, thank you. fine. That is your prerogative. I got zero problem with it.
The Ramsey Show
Normal Is Broke and in Debt. Do You Want To Be Normal?
Okay. So what would be... Not a lot. Okay. So let's say, just for sake of numbers, okay, let's say that there wasn't a drop-off between the summer and the rest of the year. How much more additional money would you make of over and above the $57,000? What do you think that that number would be if you just had the same amount of kids all year round?
The Ramsey Show
Normal Is Broke and in Debt. Do You Want To Be Normal?
But if you can still sit under his preaching and you feel like he's leading the church in a fiscally responsible way, because a lot of churches—here's the other not-so-secret secret—a lot of churches out there that have debt and use debt, and they pay it off, and they use it to build buildings and everything else. So I'm not quite sure you don't really have a question for us.
The Ramsey Show
Normal Is Broke and in Debt. Do You Want To Be Normal?
You're just kind of going, what do you guys think? And so what I think is that if this is a stumbling block for you, another scripture, and he is a stumbling block for you, then remove yourself out of the path of the stumbling block. He doesn't think he's a stumbling block. So you're not going to change his views on debt. And this is a guy that knows all that scripture.
The Ramsey Show
Normal Is Broke and in Debt. Do You Want To Be Normal?
He knows it backwards, forwards, most likely. I hope so. And he's glib about it. So don't let this be a distress to you. It shouldn't be. You're giving that way too much power.
The Ramsey Show
Normal Is Broke and in Debt. Do You Want To Be Normal?
And this is a relational issue, and I want to hang out here for just a second, George. Because I think this is important. And I think I want to help William as best we can. But I have very good friends, George. I mean, very good friends. I love being with these friends. But we don't agree on some stuff. I mean, like the kind of stuff that's like big stuff.
The Ramsey Show
Normal Is Broke and in Debt. Do You Want To Be Normal?
And if we were to constantly talk about that, it would create a real tension. But I have found we don't need to talk about it because here's what I know. They have thought and decided a long time ago this is what they think about this particular issue. This is their worldview on this issue. That's right. So have I. And I'm not changing it. And neither are they. Everybody's aware.
The Ramsey Show
Normal Is Broke and in Debt. Do You Want To Be Normal?
We didn't sit down and have this conversation the way I'm laying it out, but we just kind of know that. There's sort of an unspoken boundary there. We kind of know where we are, and because we value being around each other, we just steer clear of that particular topic. And the relationship is one of my favorite friends. So I just got to tell you...
The Ramsey Show
Normal Is Broke and in Debt. Do You Want To Be Normal?
I appreciate William, but there's this crusader mentality. We have it here in the building. And when people's lives are changed by the baby steps in this philosophy, you want to share that good news. It's the same as somebody coming to faith. Maybe they were an agnostic or an atheist, and their life is transformed literally by this good news. And what do they want to do?
The Ramsey Show
Normal Is Broke and in Debt. Do You Want To Be Normal?
They want to share it everywhere. Why don't you get this? Why don't you get this? And not everybody gets the baby steps. Not everybody thinks it even matters. And it feels like this is the case. So it's this real weird deal for William and a lot of us when we are so passionate and convicted about something, that has transformed us. So here's the deal. Not everybody's going to get it.
The Ramsey Show
Normal Is Broke and in Debt. Do You Want To Be Normal?
What could we do? And the pastor's probably not going to be against that. The pastor just goes, my personal life, I don't mind carrying this and I don't mind this. I get it.
The Ramsey Show
Normal Is Broke and in Debt. Do You Want To Be Normal?
uh it's a tough situation but you don't have to lose relationships over some of this stuff is my point do you i mean do you it's hard enough to live your life you know trying to live someone else's hey yay i don't know so anyway food for thought thanks william for the call you're a good man quick break we'll be right back this is the ramsey show
The Ramsey Show
Normal Is Broke and in Debt. Do You Want To Be Normal?
Yeah. So that's the thing I want you to think about. George has done a great job laying out, okay, what you need to do. And here's the deal. That $200,000 is something to build on, plus your existing money, if you're putting in $1,000 a month. But I want to challenge you to just believe what you just said. Let's say, let's just round down.
The Ramsey Show
Normal Is Broke and in Debt. Do You Want To Be Normal?
Welcome back to The Ramsey Show. Alongside George Camel, I'm Ken Coleman. So glad you're with us. 888-825-5225 is the phone number. Our Ramsey Network app question is from Derek today. Derek writes, my New Year's resolution is to max out my Roth IRA contribution.
The Ramsey Show
Normal Is Broke and in Debt. Do You Want To Be Normal?
I'm 30 years old, and I want to know if it's best to contribute to a target date index fund that will automatically adjust risk as I age, or should I just invest in an S&P 500 index fund?
The Ramsey Show
Normal Is Broke and in Debt. Do You Want To Be Normal?
Let's say you did something to go, okay, I'm going to be more aggressive in talking about it. There are parents everywhere around you who would much rather have their child with you. It's probably even more affordable than what they're looking at in the marketplace. There is no shortage of children who need to be watched.
The Ramsey Show
Normal Is Broke and in Debt. Do You Want To Be Normal?
I'm going with what he said. A lot of nerd speak. Well done, sir. You should do this for a living.
The Ramsey Show
Normal Is Broke and in Debt. Do You Want To Be Normal?
I agree. Couldn't agree more. Let's go to Salt Lake City now where Bridget is joining us. Bridget, how can we help?
The Ramsey Show
Normal Is Broke and in Debt. Do You Want To Be Normal?
Well, that's fun. The excitement is shared. I like that little chuckle, little pre-question chuckle there from Bridget. This is exciting, Bridget. How can we help?
The Ramsey Show
Normal Is Broke and in Debt. Do You Want To Be Normal?
Okay, so you have a pretty good idea that you're going to eventually have to stop working. Do you have kind of a timeline?
The Ramsey Show
Normal Is Broke and in Debt. Do You Want To Be Normal?
So with a little bit of aggression, more intentionality, letting people know, let's say you were able to make an additional $20,000 a year over the next six years, okay? That's a lot of money, George, coming back to your calculator. She can now put two, maybe three grand a month away, and all of a sudden— Changes your retirement drastically. It changes it.
The Ramsey Show
Normal Is Broke and in Debt. Do You Want To Be Normal?
And you saw Xander. She went to Xander. You got a great quote there that's very reasonable for a lot of peace of mind, as you said. Let's go to Boston, Massachusetts, that area. That's where Georgia hails from. Love it. Mike is there. Mike, how can we help?
The Ramsey Show
Normal Is Broke and in Debt. Do You Want To Be Normal?
All right. That sounds exciting. Early birthday.
The Ramsey Show
Normal Is Broke and in Debt. Do You Want To Be Normal?
Thanks for the call. That's one man's take. This is The Ramsey Show. The right questions are the key to unlock personal and professional potential. That means if you're not where you want to be, you are not asking the right questions. I'm Ken Coleman and this is what my new show, Front Row Seat, is all about.
The Ramsey Show
Normal Is Broke and in Debt. Do You Want To Be Normal?
Over my career, I've had the distinct privilege to interview successful people from all walks of life and to coach over 10,000 professionals who wanted more. What sets successful people apart is a never ending desire to learn and grow. Each week I'll be joined by industry leaders and world class experts to have a conversation about how to get better, move up and lead well in work and life.
The Ramsey Show
Normal Is Broke and in Debt. Do You Want To Be Normal?
But the best part of this show is you get to be a part of the conversation. Live in studio, we'll have a group of professionals just like you who have the power to ask questions and steer the discussion in real time. It's an opportunity to get real answers to real questions, like how to make the right decisions, have hard conversations, live a balanced life, and discover your next steps to growth.
The Ramsey Show
Normal Is Broke and in Debt. Do You Want To Be Normal?
Join us every Tuesday for conversations that are guaranteed to surprise, challenge, and inspire you. Check out Front Row Seat wherever you get your podcasts.
The Ramsey Show
Normal Is Broke and in Debt. Do You Want To Be Normal?
But George and I are both we really believe, Amy, you can do this. I think this is extra income. And I do think this is tightening of the expenses as well. And you can get there. All right. Quick break. We'll be right back. This is The Ramsey Show.
The Ramsey Show
Normal Is Broke and in Debt. Do You Want To Be Normal?
Welcome back, America. Thrilled to have you with us alongside the incomparable and the very, very sharp-dressed man, George Camel. I'm Ken Coleman. So kind. 888-825-5225 is the phone number. Taking your money questions and your income questions. So George is our money resident. I might pipe in. I've been known to do it. You've got a lot of great thoughts.
The Ramsey Show
Normal Is Broke and in Debt. Do You Want To Be Normal?
But I'm more in the win with the income, right? Are we winning at work so that we have the opportunity to make more money? So if you're feeling stuck professionally, we're going to equate that to our financial situation. So I'm here to help on that as well. Ken will help you afford eggs. That's right. That's the goal today. Have you noticed? Do you eat a lot of eggs?
The Ramsey Show
Normal Is Broke and in Debt. Do You Want To Be Normal?
Very reasonable. The cost of eggs are actually moving up, so we'll see what happens. But they're really good for you. Let's go to Jason in Houston, Texas. Jason, how can we help today?
The Ramsey Show
Normal Is Broke and in Debt. Do You Want To Be Normal?
We're having fun. What's going on?
The Ramsey Show
Normal Is Broke and in Debt. Do You Want To Be Normal?
What do we need to know here?
The Ramsey Show
Normal Is Broke and in Debt. Do You Want To Be Normal?
I'm beginning to think your real name isn't Jason.
The Ramsey Show
Normal Is Broke and in Debt. Do You Want To Be Normal?
All right. Okay, so we're working with six years to retire, and you have zero? George is going to walk you through this, but just a couple quick questions. You have zero, or you have very little? What's the real, real here?
The Ramsey Show
Normal Is Broke and in Debt. Do You Want To Be Normal?
Well, let me ask you a quick question. She's fully aware of your finances, which means she's probably very fully aware of your work and how you get paid. And that sounds like you had no control over this income. So she's... disappointed, yes, but does she understand the circumstances by which the money hasn't come in like you thought it would?
The Ramsey Show
Normal Is Broke and in Debt. Do You Want To Be Normal?
Second question. I thought, and I don't know if, George, you heard this, so I'm coming to you, Jason. I thought you started off the call by saying we're having a one-on-one wedding.
The Ramsey Show
Normal Is Broke and in Debt. Do You Want To Be Normal?
So she had a vision for a wedding, and now we can't afford it, so now we're opting for the one-on-one at the courthouse?
The Ramsey Show
Normal Is Broke and in Debt. Do You Want To Be Normal?
curious about how to uh how to best support approach that well so okay i think that and i can do between now and then okay so we can't really answer that until we understand what happened what is the nature of your job or could you share with us briefly the circumstances that led to you not getting paid what you uh projected that you might what happened very yeah very easily um
The Ramsey Show
Surviving the Money Storm Starts with Tough Choices
And hey, let's look at the positive on this. I think Jade's right. And I think I'm going to give you just a little bit of a, I think, hopefully a little mindset hack here. You know, you should get a new master bedroom. You know, in the sense of, you know, did you lose some stuff? Yes, that stinks. She lost her wardrobe. That's awful. All those things are just awful.
The Ramsey Show
Surviving the Money Storm Starts with Tough Choices
But baby safe, dog safe, you're safe. You know what? You had a really old master bedroom. Now you get a new master bedroom. And I like Jade's pressing pause right here and just kind of going, you know what? Life just threw us a curveball, but let's hit the curve.
The Ramsey Show
Surviving the Money Storm Starts with Tough Choices
You know, like I know, you know, I'm stuck in this baseball metaphor, but stay with me. You know, curveballs are meant to strike people out. But let me tell you something. Really good hitters know how to hit a curve. And if you hang a curve, these people put it out of the park. They smash it.
The Ramsey Show
Surviving the Money Storm Starts with Tough Choices
And I think right now, I think through the coaching you just got from Coach Jade over here, I think you guys can take this curveball that life threw at you, and you absolutely hit a grand slam and come out of this thing way better off. So please listen to what she said. I think she's absolutely right, and I think you guys got a second chance. Not fun. Not fun how you got it.
The Ramsey Show
Surviving the Money Storm Starts with Tough Choices
But nonetheless, a second chance. So there you go. All right, don't move. She's Jade Warshaw. I'm Ken Coleman. We're here for you. This is The Ramsey Show.
The Ramsey Show
Surviving the Money Storm Starts with Tough Choices
The Ramsey Show continues. Thrilled to have you with us. I'm Ken Coleman. Jade Warshaw is alongside. The phone number is 888-825-5225. Let's go to Nicole who joins us in Memphis. Nicole, how can we help today?
The Ramsey Show
Surviving the Money Storm Starts with Tough Choices
This is an income issue. By the way, we're running short on time. Let's get her a session with one of our financial coaches as our gift because there's a lot to layer through here. Nicole, you have got to come up with a situation with your daughter. Friends and family, it takes a village. I'm not betting against a single mama. I know you can find a way to get some care for your daughter.
The Ramsey Show
Surviving the Money Storm Starts with Tough Choices
I know it is, sweetheart. But I'm telling you, I'm not betting against you, but you've got to get some help with your daughter. She's been through a lot. You've got to get some people around you who can be with her.
The Ramsey Show
Surviving the Money Storm Starts with Tough Choices
Yeah, Joe, how's that going to feel when she starts missing payments that she owes you? That's got to be weird. Hey, we're going to Red Lobster tonight. How's that payment plan coming along?
The Ramsey Show
Surviving the Money Storm Starts with Tough Choices
And so, Nicole, all I'm saying is we're going to get you with one of our financial coaches who's going to spend more time with you.
The Ramsey Show
Surviving the Money Storm Starts with Tough Choices
But listen, you've got to get more income.
The Ramsey Show
Surviving the Money Storm Starts with Tough Choices
And you've got to get a community around you who say, you say, look, I need help with my daughter who's still going through this trauma over here. I need some support because I'm mama bear and I got to go make some money. And the more money I make with our financial coach, and we're going to give you all the resources, by the way.
The Ramsey Show
Surviving the Money Storm Starts with Tough Choices
So Christian, if she needs total money makeover, every dollar, give her everything we got.
The Ramsey Show
Surviving the Money Storm Starts with Tough Choices
Yeah. We're going to walk with you, Nicole. You're not on your own, but go get some income and watch this thing turn around. Hang on the line. We're going to take care of you. This is The Ramsey Show. I hate to admit this, but I don't always eat right. I know, I need to eat more fruits and veggies, but sometimes I just have to pound some chips because they taste so good.
The Ramsey Show
Surviving the Money Storm Starts with Tough Choices
That's why I love my Field of Greens. It helps me eat healthy when I don't have much time. And each fruit and vegetable in Field of Greens was doctor selected for a specific health benefit. Heart, lungs, kidney, metabolism, even healthy weight. And folks, I ain't getting any younger. It's super easy to mix with water. And here is the great part of it.
The Ramsey Show
Surviving the Money Storm Starts with Tough Choices
I thought it might taste like grass, but it tastes great. And only Field of Greens makes this promise. Your doctor will notice your improved health or your money back. So go to fieldofgreens.com slash Ramsey for 20% off your first order. That's fieldofgreens.com slash Ramsey to save 20% on your first order. Welcome back to The Ramsey Show. Thrilled that you're with us. I'm Ken Coma.
The Ramsey Show
Surviving the Money Storm Starts with Tough Choices
Jade Warshaw is with me as well. 888-825-5225. Taking your money questions and your work-related or income questions. To that end, the Get Clear Assessment, a tool that I was privileged to create A few years ago, it's helped hundreds of thousands of people and just wrote a new book called Find the Work You're Wired to Do.
The Ramsey Show
Surviving the Money Storm Starts with Tough Choices
Yeah, yeah, exactly. Joe, listen, I appreciate that you told your girlfriend you were going to call us, but what was your gut reaction when she hit you with this idea?
The Ramsey Show
Surviving the Money Storm Starts with Tough Choices
It came out a little earlier this year, and it includes the Get Clear Assessment. So what does the assessment do? Well, it answers four really big questions. Who am I? What's my unique wiring? And we're talking about in the context of work. Why am I wired that way? What do I want to do professionally, and how do I get there? And that's what these two tools combined do for you.
The Ramsey Show
Surviving the Money Storm Starts with Tough Choices
You're going to spend about a third of your life at work, and I just believe with everything in my being that you shouldn't spend it just doing something that you're okay at or that you're good at but you don't enjoy. It doesn't produce a result that motivates you. So you can get the book, find the work you're wired to do, and it comes with the assessment, the Get Clear assessment.
The Ramsey Show
Surviving the Money Storm Starts with Tough Choices
You can get it at ramsaysolutions.com.
The Ramsey Show
Surviving the Money Storm Starts with Tough Choices
slash store or you can click the link in the description of the show if you're listening via youtube and podcast all right to susan is uh where we're going to go she is in dallas texas susan how can we help hi um i just went through a divorce or finalized it recently it took a while um and i've been a stay-at-home mom during my entire marriage for um the past 14 years anyway um
The Ramsey Show
Surviving the Money Storm Starts with Tough Choices
Joe, Joe, Joe, listen to me, Joe, Jade and I are on team Joe. Okay. Why don't you stop spinning and just tell us, how did you feel when she hit you with that? Did you want to do it? Yes or no.
The Ramsey Show
Surviving the Money Storm Starts with Tough Choices
Thank you. Thank you. Thank you. Thank you.
The Ramsey Show
Surviving the Money Storm Starts with Tough Choices
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The Ramsey Show
Surviving the Money Storm Starts with Tough Choices
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The Ramsey Show
Surviving the Money Storm Starts with Tough Choices
P P P P P P P G實 ac , , , , , , , , , , , , , , , , , , , , , , , , , a
The Ramsey Show
Surviving the Money Storm Starts with Tough Choices
And now you're paying off your personal home, no debt in your life at all, and now you get real cash flow plus cash. Why is that not the better play in your mind? Zero risk.
The Ramsey Show
Surviving the Money Storm Starts with Tough Choices
Yeah. Is that not a better vision? If you don't agree, you just have to what? You're acting like this is impossible.
The Ramsey Show
Surviving the Money Storm Starts with Tough Choices
Because I think you called us to get us to go, well, this guy and this gal said this. Are you worried about what her reaction is going to be if you tell her no? Be honest.
The Ramsey Show
Surviving the Money Storm Starts with Tough Choices
Okay, but that's real money now. That's $72,000 in the clear. Not paying any debt. You'll have some expenses on that.
The Ramsey Show
Surviving the Money Storm Starts with Tough Choices
All right. Who needs some help out there? You're just going, I'm not where I want to be. I'm not where I want to be with my money. I'm not where I want to be in my relationships. I'm not where I want to be in my professional journey. If that's you, no shame in your game, number one. And number two, we'd love to help. We being Jade Warshaw, my colleague, co-host, and friend. And I'm Ken Coleman.
The Ramsey Show
Surviving the Money Storm Starts with Tough Choices
We're Ramsey Personalities, and we're here for you. This is a... This is a listener of your show. We are here for you. We take your questions, 888-825-5225, 888-825-5225. Let's go to Detroit now. Kendall is there. Kendall, how can we help?
The Ramsey Show
Surviving the Money Storm Starts with Tough Choices
Well, Jade's going to help you on that, but I'm just real curious. What do you think that starting salary is, and what do you think the range is maybe in the first couple years?
The Ramsey Show
Surviving the Money Storm Starts with Tough Choices
You can do something with that, can't you, coach?
The Ramsey Show
Surviving the Money Storm Starts with Tough Choices
And by the way, Kendall, those numbers are going to be way bigger than that. She was just going real conservative here.
The Ramsey Show
Surviving the Money Storm Starts with Tough Choices
What, two years, you pay off your debt, then you got your emergency fund after that, you save for a house. Let's just say you don't start investing until 36. Again, not an issue because of the amount of money that your 15% represents. And the compound interest is insane. So you don't have to worry about that. That's the point. That's the whole thing that you called about. You're not too late.
The Ramsey Show
Surviving the Money Storm Starts with Tough Choices
You aren't going to be destitute. You're going to be very, very wealthy.
The Ramsey Show
Surviving the Money Storm Starts with Tough Choices
So that's a great point, Jade. That doesn't take into account a double income. Oh, by the way, you know what else it doesn't take into account? All the money you're going to make on a house because you're going to put a really big chunk down and you're going to pay it off.
The Ramsey Show
Surviving the Money Storm Starts with Tough Choices
I got to tell you, Kendall, I'd be shocked. If you don't do what we tell you to do, if you're not in the $10 million range by the time you're 65, be shocked.
The Ramsey Show
Surviving the Money Storm Starts with Tough Choices
So you've got this. You got it? Thank you.
The Ramsey Show
Surviving the Money Storm Starts with Tough Choices
Hey, do you have any of our products? You got any books or anything that you kind of lean on?
The Ramsey Show
Surviving the Money Storm Starts with Tough Choices
I want to give you something, Jade. Let's give her something to kind of cement this so that she can see the process. For sure, Total Money Makeover.
The Ramsey Show
Surviving the Money Storm Starts with Tough Choices
Wow. Magnificent and Kenneth in the same sentence. It's going to be a day.
The Ramsey Show
Surviving the Money Storm Starts with Tough Choices
Kendall, you're a rock star. Okay, Jade, we got about a minute here. We got new people coming in all the time. So I think it's really good to revisit. What is a really sensible question.
The Ramsey Show
Surviving the Money Storm Starts with Tough Choices
And that is, I've got all this debt, and if it takes me six years or five years or four years to pay it off, I'm so far behind the eight ball in investing. Why do we teach that the way we do, that we clear debt first before we invest? Explain that to newcomers who might still be going, ah, really?
The Ramsey Show
Surviving the Money Storm Starts with Tough Choices
And you just proved it. Once you start that investing, compound interest becomes your best pal. And so it can work. You're not too late. Trust the process. It works. We're so glad you've joined us. She's Jade Warshaw. I'm Ken Coleman. This is The Ramsey Show. We're
The Ramsey Show
Surviving the Money Storm Starts with Tough Choices
So here's the deal. So since you called us and I know where this is going, you need to give her a legitimate explanation as to why we think what we think and if you agree with us. So the reason that we want to keep this separate is you two are not married. Now, if you go down to the courthouse tonight, and I'm not trying to get you to do that, but all of a sudden this debt becomes your debt.
The Ramsey Show
Surviving the Money Storm Starts with Tough Choices
Welcome back to the Ramsey Show where we talk to you about you. Your money, your work, your relationships is our goal. We want you to win in all three. I'm Ken Coleman. Jade Warshaw is with me. And the phone number to jump in is 888-825-5225. Try not to say too many things at once when you're live on the air sometimes. It's tough sometimes.
The Ramsey Show
Surviving the Money Storm Starts with Tough Choices
Sometimes every once in a while I get on a roll a little too fast. It is time for today's question of the day brought to you by why refi. Now we do not recommend refinancing on everything, but for distressed private student loans, there is why refi. We trust why refi because they help you with a low fixed interest rate. You couldn't get anywhere else.
The Ramsey Show
Surviving the Money Storm Starts with Tough Choices
And it's going to help you stick to your budget and get out of debt. Learn more at why refi.com slash Ramsey. That's the letter Y Ramsey. R-E-F-Y dot com slash Ramsey. May not be available in all states.
The Ramsey Show
Surviving the Money Storm Starts with Tough Choices
But right now it's her debt. And the relationship needs boundaries. And this is because you believe in a healthy relationship. And so you need to explain to her that that is your debt, not my debt. And the minute that I give you money, it changes our relationship. And I don't want that because I'm looking long term. Mm-hmm. I missed anything on that.
The Ramsey Show
Surviving the Money Storm Starts with Tough Choices
Well, Ken, you are being selfish. But selfish in this particular interpretation, Jade, is not bad.
The Ramsey Show
Surviving the Money Storm Starts with Tough Choices
Thank you. Thank you for picking that up. Of course. That word selfish gets a really negative thing. But when it comes to your money and your compensation... And you are your agent. You are your manager. That's right. This is your livelihood. So all of the feels around this scenario are what I would call absolutely normal, dare I say, healthy. That's good. In other words, he gets a good review.
The Ramsey Show
Surviving the Money Storm Starts with Tough Choices
He's sitting there and he's getting all positive. Atta boy. And then they go... I love how you dramatize it even in the question. It was like, I think she was in a few dramas and plays when she was in school. So in this situation, Jade, it's a shot to the chest. 50 cents. Yeah. I'm going to tell you something.
The Ramsey Show
Surviving the Money Storm Starts with Tough Choices
If you don't feel something when you get a 50 cent raise, then something's wrong with you. And so I would say, Ken, you are being what I would call properly selfish in recognizing real feelings. That should feel that way because I'm objective. I have no skin in this, and I would feel that way if I put myself in your shoes. So now let's get to the second part of this. Should you accept it?
The Ramsey Show
Surviving the Money Storm Starts with Tough Choices
I don't know because here's what I would be asking. And so I'm going to play your agent. I'm going to be your agent, and then I'm going to give it to my assistant agent. If Jade and I are agenting for you, I'm going to say I want to find out is that a normal – Raise the average in the United States. And this is not a law.
The Ramsey Show
Surviving the Money Storm Starts with Tough Choices
If you look at the numbers, annual raises usually fall between three and four percent. Again, no one's beholden to that number. Fifty cent raise is really, really low.
The Ramsey Show
Surviving the Money Storm Starts with Tough Choices
So the question becomes, Ken, why is it only 50 cents? Is the company struggling?
The Ramsey Show
Surviving the Money Storm Starts with Tough Choices
And if the company's struggling, we all got to tighten the belt in our personal budgets. And so I'd want to know why only 50 cents and dig into that. And then you have to decide from there, okay, that's the now answer. But I want to look at next because I don't want to keep feeling this way.
The Ramsey Show
Surviving the Money Storm Starts with Tough Choices
Because you keep showing up year after year and you feel this way.
The Ramsey Show
Surviving the Money Storm Starts with Tough Choices
I don't like hope when it comes to compensation. Yeah. Do you?
The Ramsey Show
Surviving the Money Storm Starts with Tough Choices
Look at you and the mixed metaphors. That was strong.
The Ramsey Show
Surviving the Money Storm Starts with Tough Choices
We got to find some fish with fatter gills. Yeah. That's good.
The Ramsey Show
Surviving the Money Storm Starts with Tough Choices
I'm with you. I don't want hope in that. I want to put my hope in me and the Lord and action. I'm not going to put hope in, well, it was 50 cents this year.
The Ramsey Show
Surviving the Money Storm Starts with Tough Choices
Gee, I hope they bump it to $1.25 next year.
The Ramsey Show
Surviving the Money Storm Starts with Tough Choices
Okay, so if you feel as though you've been devalued, it's a slippery slope to where you devalue yourself.
The Ramsey Show
Surviving the Money Storm Starts with Tough Choices
Well, you start questioning. I'm only worth 50 cents. That's good. That's tough stuff. That is tough. But that's the real, real. So anyway, sorry about that, Ken. I would be looking for greener pastures if it were me.
The Ramsey Show
Surviving the Money Storm Starts with Tough Choices
But, you know, again, and by the way, anybody in that situation, can I just say this very quickly? Get the Get Clear assessment in the book, find the work you're wired to do. It's one purchase price. Get the book, and I'm going to tell you something. Lay it over. Take the results of the assessment. Read the book. It's a 45-minute read. For this reason.
The Ramsey Show
Surviving the Money Storm Starts with Tough Choices
Jade, it'll help people go, where could I go?
The Ramsey Show
Surviving the Money Storm Starts with Tough Choices
Where are my possibilities? I'm not stuck. This is not the only thing I can do. Gosh, that's a really important theme for me is for people to see I got options. Even when you can't see them, I promise you, you have got options.
The Ramsey Show
Surviving the Money Storm Starts with Tough Choices
It's about self-awareness. And by the way, on the other side of self-awareness is confidence. You cannot be confident if you aren't aware. That's true. So there you go. Just a quick, that's why I put that resource out. It's a fabulous little resource. So there you go. All right, to the phones we go. Ed is up in Columbia, South Carolina. Ed, how can we help?
The Ramsey Show
Surviving the Money Storm Starts with Tough Choices
Give Jay the numbers real quick. Walk her through the numbers.
The Ramsey Show
Surviving the Money Storm Starts with Tough Choices
What of that is your emergency fund?
The Ramsey Show
Surviving the Money Storm Starts with Tough Choices
You getting a severance of any type? No, they don't do that. But you know what? You got a head start. You're right.
The Ramsey Show
Surviving the Money Storm Starts with Tough Choices
Do you like country music? I do. You ever heard of an old guy named Johnny Paycheck? I know who he is, yeah. Download his song when we hang up. It's called Take This Job and Shove It.
The Ramsey Show
Surviving the Money Storm Starts with Tough Choices
I'd be like, hey, you guys let me go? Guess what I did? Yeah. I paid my house off. There you go. Oh, yeah. Yeah. Come on, man. That's real financial peace. That's why we do what we do. Ed, you're the poster child. We're happy for you. This is The Ramsey Show.
The Ramsey Show
Surviving the Money Storm Starts with Tough Choices
I have a question for you, Jade. And this is for you, Joe, but it's to Jade. I overthink everything. So the giant asterisk here is I overanalyze everything. My brain right now is going, if he says that, which you and I are on the same page, does she put pressure on him to get married? And does this fast forward a marriage proposal? I'm a little nervous about that. I hope not.
The Ramsey Show
Surviving the Money Storm Starts with Tough Choices
Welcome back to The Ramsey Show. I'm Ken Coleman. I'm joined in studio with, or by rather, Jade Warshaw, 888-825-5225, 888-825-5225. All right, let's see. We've got our Ramsey Network app question, and this is from Gabriel. He asks, can you really win money with apps like Bingo Winner, and Mr. Beast's new app, or is it a scam? Also, I was wondering if Acorns and Robin Hood...
The Ramsey Show
Surviving the Money Storm Starts with Tough Choices
i'm sorry our good investment options uh i i i i i'm 50 years old i don't know what bingo winner is and i barely know who mr beast is so i'm unqualified to even answer this question because i don't even know what that means i'm gonna win money with their apps i don't have the foggiest idea anybody in there Anybody? Zach, Kelly, do you know what they're talking about?
The Ramsey Show
Surviving the Money Storm Starts with Tough Choices
The only app that I play in is a fantasy football, and that has nothing to do with any of this.
The Ramsey Show
Surviving the Money Storm Starts with Tough Choices
Yes, please. Bail me out, because I don't know how to answer this question.
The Ramsey Show
Surviving the Money Storm Starts with Tough Choices
I have zero problem with this. This is not controversial to me.
The Ramsey Show
Surviving the Money Storm Starts with Tough Choices
I have no game apps on my phone. So I feel like I'm in Jade's good stead right now.
The Ramsey Show
Surviving the Money Storm Starts with Tough Choices
Yeah. I'm going to go ahead and say that I don't know if it's a scam, but you should not be spending your time on it. There's no ROI on your time, and I'll bet there's not much ROI on the money.
The Ramsey Show
Surviving the Money Storm Starts with Tough Choices
And then I was wondering if Acorns and Robinhood are good investment options. Robinhood is an investment platform. We are very clear at Ramsey Solutions what our investment strategy is. I'll hand it to my colleague to give a very quick, give a 60-second investment strategy. That would be our answer to any of this.
The Ramsey Show
Surviving the Money Storm Starts with Tough Choices
What would you say he needs to guard himself with?
The Ramsey Show
Surviving the Money Storm Starts with Tough Choices
I got to confess, I just put the old readers on.
The Ramsey Show
Surviving the Money Storm Starts with Tough Choices
I just typed in bingo winner app and boy, talk about getting me in trouble.
The Ramsey Show
Surviving the Money Storm Starts with Tough Choices
Anything that looks like that is designed to suck the brain right out of your head.
The Ramsey Show
Surviving the Money Storm Starts with Tough Choices
That's my ruling on that. It looks like it's designed to keep you addicted, whatever it is. So let me tell you what I know. Successful millionaires aren't spending a lot of time on bingo win.
The Ramsey Show
Surviving the Money Storm Starts with Tough Choices
I'm never getting that time back, neither are you. No. Matthew is up in Austin, Texas. Matthew, how can we help?
The Ramsey Show
Surviving the Money Storm Starts with Tough Choices
We're thrilled about your question. What is it?
The Ramsey Show
Surviving the Money Storm Starts with Tough Choices
Two years. Two years. And in the two years, has there been moments of tension based on her maybe stepping into some situations that the kids weren't really cool with or you weren't cool with or there have been some comments? I'm just giving you what I mean when I say moments. Have there been several moments of tension that lead to this concern?
The Ramsey Show
Surviving the Money Storm Starts with Tough Choices
there's enough i knew the answer to that yeah my friend yeah i would just say this i this needs to be settled in premarital counseling stat how old are the kids immediately they're not young and so i got two in college i have one that's a teenager well the two in college that's a non-factor she doesn't get to say anything about that and how old's the teenager
The Ramsey Show
Surviving the Money Storm Starts with Tough Choices
i agree i agree i'm gonna default to you called us because you've got some real fear and i'm glad you called us if for no other reason than i'm telling you as a guy who went through premarital counseling um and i've been married 26 years long enough to know that had stacy and i not been on the same page about the major things yeah I don't know that we're here.
The Ramsey Show
Surviving the Money Storm Starts with Tough Choices
And so I'm just saying that, Matthew, you need to invest time and money into premarital counseling to sit with a professional therapist and get this stuff out on the table. You've got to say, she has created this tension here. I feel like she stepped over here. She needs to be able to say, I didn't like it when you said I'm a dad first. We got to get this all out before we lock in.
The Ramsey Show
Surviving the Money Storm Starts with Tough Choices
There is the kid's side of it, but they've got to solve it between the two of them first. You've got to know what life is going to look like day one. Now, we manage those decisions after that.
The Ramsey Show
Surviving the Money Storm Starts with Tough Choices
Is this a big fancy wedding when we've got a lot of people coming and a lot of money being spent?
The Ramsey Show
Surviving the Money Storm Starts with Tough Choices
I agree. I'd get a session in at least and talk about these majors. I really would before the wedding. But can I also say that if she says, hey, are you going to pay for their master's degree or are we going to go to Hawaii? The answer is, where is my grass skirt? That's what the answer is. The kids can pay for their master's degree. Go with mama to Hawaii, man.
The Ramsey Show
Surviving the Money Storm Starts with Tough Choices
No, kids need to pay for their own master's.
The Ramsey Show
Surviving the Money Storm Starts with Tough Choices
Welcome back to The Ramsey Show. I'm Ken Coleman. Jade Warshaw joins me. The phone number is 888-825-5225. 888-825-5225. Let's go to Indianapolis, Indiana, where Zachary joins us. Zachary, how can we help today?
The Ramsey Show
Surviving the Money Storm Starts with Tough Choices
We're doing great. What's going on?
The Ramsey Show
Surviving the Money Storm Starts with Tough Choices
What do you mean at least for four months? Was it total?
The Ramsey Show
Surviving the Money Storm Starts with Tough Choices
Okay. Okay, so pup is okay. And when you say it's only one room, is that downstairs, upstairs? What was in the room?
The Ramsey Show
Surviving the Money Storm Starts with Tough Choices
Well, a couple of things to be grateful for.
The Ramsey Show
Surviving the Money Storm Starts with Tough Choices
obviously you guys weren't there your wife was not there your baby son the dog is okay my goodness and your father-in-law's driving by yeah and i love it and again grateful that it's just the room and four months from now you've got a rebuilt master now i know all of the other things that come with that are awful but but all things being equal this is uh you dodged a major major crisis yeah yeah yeah definitely all right so how can we help today
The Ramsey Show
Surviving the Money Storm Starts with Tough Choices
Is insurance going to cover the total rebuild, or is there going to be more cash you're going to have to come up with?
The Ramsey Show
Define Your Future By Setting The Right Financial Priorities
Да, это вопрос, который у меня есть, Карина. Извините, я пытался послушать. Вы все на одном этапе с вредом и всем остальным? Или есть еще какие-то разделения в том, как он видит деньги и вред и все это? Потому что вы все сделали в правильном направлении. Где вы на остальном этапе?
The Ramsey Show
Define Your Future By Setting The Right Financial Priorities
Подождите. Это удивительно. Я должен знать. Две компании знают друг друга? Конечно, нет. То есть вы профессиональный полигамист?
The Ramsey Show
Define Your Future By Setting The Right Financial Priorities
Позвольте спросить, он на одной странице в отношениях с деньгами? Это да или нет? Да. Он также на одной странице в отношениях с деньгами, когда мы общаемся, мы комбинируем наши финансы?
The Ramsey Show
Define Your Future By Setting The Right Financial Priorities
все наши дети, хорошо, хорошо, хорошо, я такой, который как-то как-то мудрый, потому что я говорю, что я приведу больше, и у него есть два детей, и у меня есть один ребенок, да, но Рэйчел прав, я надеюсь, что ты слышала Рэйчел, я говорю тебе, что она права, так что я должен сказать тебе, что я беру немного другую тегу здесь, я думаю, что вы должны иметь приятный ужин, и я думаю, что вы должны сидеть и получать это отмечено и сказать, что действительно важно, и давайте посмотрим на большую картину, и вы будете должны перестать делать что-то, я люблю совет Рэйчел там,
The Ramsey Show
Define Your Future By Setting The Right Financial Priorities
Я хочу видеть ее и дать ей шанс. Потому что я чувствую, что это только о инвестициях. Я знаю, и это становится такой вещью. И мы не хотим, чтобы нашу вещь имела нас.
The Ramsey Show
Define Your Future By Setting The Right Financial Priorities
Добро пожаловать в «Рэмси-шоу». Мы рады, что вы с нами. Меня зовут Кен Коулман. И сегодня с нами грешная Рэйчел Круз. Да, я знаю, я пытаюсь найти еще один адъютант. Так что, как ты думаешь?
The Ramsey Show
Define Your Future By Setting The Right Financial Priorities
Слушайте, я даже не делал этого, я просто хотел сказать профессиональный полигамист, потому что у вас есть две сестры, у вас есть две компании, с которыми вы работаете полностью, и они не знают друг о друге, и я даже не пытаюсь... Я думаю, что сестры знают друг о друге. Это верно. Вы понимаете мою точку. Это интересная маленькая метафора. Как вы выкладываете это? Как долго вы выкладываете это?
The Ramsey Show
Define Your Future By Setting The Right Financial Priorities
Я думаю, что это прекрасно, потому что уроки в школе – это основная основа для учеников, чтобы быть счастливыми. Ты – королева счастливости. Ты думаешь об этом. Это их самая большая тенденция.
The Ramsey Show
Define Your Future By Setting The Right Financial Priorities
Они решают, как работать с системой.
The Ramsey Show
Define Your Future By Setting The Right Financial Priorities
Это невероятно. Я люблю это. Она не покупала подарки для маленького Джонни, была ли она? Я не знаю, я это сделаю.
The Ramsey Show
Define Your Future By Setting The Right Financial Priorities
Хорошо, давайте идем в Довинпорт, Иова, где Даниэль есть. Даниэль, как мы можем помочь сегодня?
The Ramsey Show
Define Your Future By Setting The Right Financial Priorities
Мы должны остаться или мы должны уйти, это вопрос.
The Ramsey Show
Define Your Future By Setting The Right Financial Priorities
Да, так что ты будешь в Стонвальде. Так что это было 4 месяца назад, когда они сказали, что ты будешь отдыхать около 4 дней или недели. Так что я люблю факт, что ты взял это в свои руки и получил эту дополнительную лицензию. Так что, когда вы способны вступить в эту роль или двигать эти вредные материалы, что дает вам большую зарплату и лучшее обслуживание?
The Ramsey Show
Define Your Future By Setting The Right Financial Priorities
Поехали. Но не перестаньте. У нас есть ребенок на пути, три девушки дома, много ответственностей. Не оставляйте этого предыдущего работника до того, как у нас остается другая работа. Это мой четкий совет на это. Так что давайте идем. Стоп ждать этого предыдущего компания, мой друг Даниэль. Предыдущая компания не будет позвонить вам. Я помню, когда я был в школе, у меня были друзья.
The Ramsey Show
Define Your Future By Setting The Right Financial Priorities
У меня всегда был простой ключ, Рэйчел. Но у меня были друзья, которые задавали девушку три-четыре раза. После второго, нет, время перейти дальше. И они не отвечают на твою вопрос. Они кидают это в корпорат, и я даже не уверен, что они говорят с кем-то в корпорате. Так что знак на стене, это то, что я получаю. Пора тебе взять следующий тест, давайте сделаем это, и давайте перейдем дальше.
The Ramsey Show
Define Your Future By Setting The Right Financial Priorities
Два полноценных работа.
The Ramsey Show
Define Your Future By Setting The Right Financial Priorities
Да, полноценные работы. И держать их от друг друга. Это как, это как иметь младенца.
The Ramsey Show
Define Your Future By Setting The Right Financial Priorities
Люди и идеи, да? Да. То есть в этом есть какая-то креативность, но в основном все эти ответы приводят к тому, что ты хорош в работе с людьми, и ты наслаждаешься работой с людьми, верно? Корректно, да. Итак, на данный момент, если у тебя нет книги, я дам тебе ее. У тебя есть книга? Потому что тебе нужно больше тренировок. У меня есть книга из библиотеки. О, фантастически.
The Ramsey Show
Define Your Future By Setting The Right Financial Priorities
Мы дадим тебе оба бесплатно. Но вот что ты должен делать. Ты должен взять статус цели и посмотреть на это как описание работы. Потому что это все для тебя. Если это для меня описание работы, то где в моей области, где в мире работы, где я живу, есть открытые работы, которые позволяют мне это сделать? Это так просто. Так что ты не сидишь и спрашиваешь в голове, что я должен делать?
The Ramsey Show
Define Your Future By Setting The Right Financial Priorities
Это все, что я могу сказать. Вы должны быть невероятными.
The Ramsey Show
Define Your Future By Setting The Right Financial Priorities
Ты будешь делать работа людей, ты поговорил об изображении, об инструкции. Так что это коммуникация, у тебя есть коммуникация, инструкция и умение.
The Ramsey Show
Define Your Future By Setting The Right Financial Priorities
То есть ты будешь работать с людьми, тренировать их, то, что касается руководства, то, что касается руководства, то, что касается руководства, то, что касается руководства, то, что касается руководства, то, что касается руководства, то, что касается руководства, то, что касается руководства, то, что касается руководства, то, что касается руководства, то, что касается руководства, то, что касается руководства, то, что касается руководства, то, что касается руководства, то, что касается руководства, то, что касается руководства, то, что касается руководства, то, что касается руководства, то, что кас
The Ramsey Show
Define Your Future By Setting The Right Financial Priorities
Добавляйте новое ребенка, сделайте все в стабильном состоянии, а затем возьмите следующие шаги, чтобы перейти в работу, которую вы действительно готовы сделать. Подождите, Даниэль, ты хороший человек. У тебя уже есть сигнал. Твоя компания, они не собираются привести тебя в рейс. Пойдем дальше. Подождите, мы возьмем тебе эти две книги, и я покажу тебе через книгу. Хорошо, быстрый перерыв.
The Ramsey Show
Define Your Future By Setting The Right Financial Priorities
Она Рэйчел Круз, я Кен Кольман, это «Рамзи-шоу», мы вернемся сразу.
The Ramsey Show
Define Your Future By Setting The Right Financial Priorities
96 в год. Хорошо. Хорошо. Так что, какая ваша вопрос?
The Ramsey Show
Define Your Future By Setting The Right Financial Priorities
Добро пожаловать в «Рамси-шоу». Я Кен Коулман. Я присутствую с Рачелом Крузом. Телефон номер 888-825-5225. 888-825-5225. Мы здесь, чтобы ответить на ваши вопросы. Пойдем к Джейсону, который присутствует сейчас в Лос-Анджелесе, Калифорния. Джейсон, как нам помочь? Привет, спасибо за звонок. Конечно, что происходит сегодня, Джейсон? Итак, у меня есть... Извините.
The Ramsey Show
Define Your Future By Setting The Right Financial Priorities
И что тебя оставило от ответа на эту предложение?
The Ramsey Show
Define Your Future By Setting The Right Financial Priorities
Так что вы должны установить эту границу. Окей, Кен стоит здесь. Я стою, я стою. Я согласен с тем, что Райджел сказала. Я просто хочу сказать это. Я буду отвечать так, как если бы я был в твоих руках. И я не знаю, есть ли у этого партнера какие-то особенные характеристики, поэтому я полностью негативен.
The Ramsey Show
Define Your Future By Setting The Right Financial Priorities
Но если моя дочь, Джоси, которая, кстати, завершится в 15 лет завтра, если бы она пришла ко мне и сказала, что она хочет большой партнер, и у нее будет бюджет, я думаю, что будет 10, я бы спросил на список. Нет смысла мне даже дать 4, 5, 6, без того, чтобы увидеть, где в мире 10 тысяч идут, Я бы сказал, что все, что Рачель сказала, абсолютно верно.
The Ramsey Show
Define Your Future By Setting The Right Financial Priorities
Вы даете номер после того, как они дадут вам номер. Вы не просто говорите, что будет 10, может быть 12, может быть 15, вы даете половину. Вы должны спросить о спецификах. И иметь настоящий разговор с их дочерью. И вы сейчас в очень тяжелой ситуации с революцией. И теперь у нее есть два.
The Ramsey Show
Define Your Future By Setting The Right Financial Priorities
Дайте мне ваш бюджет. Что вы хотите для вашего партнера? Давайте просто пройдем через это. Давайте учим ее. Это момент учения, чтобы сказать, да, я бы хотел ездить на Lamborghini. И потом ты говоришь, что это то, что ты можешь сделать.
The Ramsey Show
Define Your Future By Setting The Right Financial Priorities
И вы не вредите другому компанию, и поэтому рискуете отбиваться от одного или двух.
The Ramsey Show
Define Your Future By Setting The Right Financial Priorities
Но культура никогда не должна отрубить общий смысл.
The Ramsey Show
Define Your Future By Setting The Right Financial Priorities
Так что, возвращаясь к тебе, Джейсон, у тебя есть настоящий номер в голове, который ты чувствуешь, что я не могу обеспечить. Ты чувствуешь себя как человек, который в контроле за свою ситуацию денег. Ты звучишь очень стабильно. Какой номер, если бы я поставил его на огонь для моей дочери, он бы не трогал меня, он бы не дал мне момент Мэйлока? Какой это номер?
The Ramsey Show
Define Your Future By Setting The Right Financial Priorities
Хорошо. Ты будешь в порядке с инвестициями, ты должен проверить, будет ли революция, ты должен определить, какие зарплаты будут, и все это, и ты будешь стартовать, хорошо? Но ты в порядке. Но если номер 3000, и ты скажешь, это моя маленькая девушка, она хочет это, я могу дать ей три тысячи, тогда начнем с этого, тогда поймем список, и посмотрим, если мы сможем, ты знаешь, приблизиться к этому.
The Ramsey Show
Define Your Future By Setting The Right Financial Priorities
Это то, что я пытаюсь сделать, это привести тебя к тому моменту, когда ты не позволяешь вреду провести день, и сделать плохое финансовое решение, и я думаю, что 3000 это нормальный номер, ты согласен?
The Ramsey Show
Define Your Future By Setting The Right Financial Priorities
И твоя дочь может не любить это. Она не любит тебя сейчас, так что мы не теряем это дело. Я не пытаюсь быть инсенситивным, я просто держу это в реальном. Что ты будешь делать? Мэйкер и я хотим быть еще больше женаты. Я имею в виду, мы уже пересекли эту границу. Так что, ты должен встать к твоим оружиям, чувак. И получать игрушку. Я готова к тебе, Джейсон. Да, Джейсон, ты хороший человек.
The Ramsey Show
Define Your Future By Setting The Right Financial Priorities
Ты будешь в порядке. Это будет отличный партнер. Да. Рэйчел, кстати, придет и сделает танец или что-то. Я приду в партнерство. Отпусти эту требовательность. 15-летние девушки. Это будет замечательно. Ты расскажешь историю. Это «Реабилитация».
The Ramsey Show
Define Your Future By Setting The Right Financial Priorities
Rachel Cruz joins me this hour.
The Ramsey Show
Define Your Future By Setting The Right Financial Priorities
Let's go to Preston, who joins us now in Dallas, Texas.
The Ramsey Show
Define Your Future By Setting The Right Financial Priorities
Сколько времени ты думаешь, что ты сможешь это сохранить и не узнать об этом? Как долго ты думаешь, что у тебя будет?
The Ramsey Show
Define Your Future By Setting The Right Financial Priorities
Я не думаю, что ты понимаешь... Подожди секунду, Мелодия. Я не думаю, что Рэйчел понимает этот контент. Она работает два полноценных работа.
The Ramsey Show
Define Your Future By Setting The Right Financial Priorities
Это будет как ты будешь персоналом для другого компании, и они не знают об этом. Она знает, что она не может это сохранить, потому что она будет обнаружена, и потом она выстрелится.
The Ramsey Show
Define Your Future By Setting The Right Financial Priorities
Да, так что давайте посмотрим, какая у тебя самая маленькая вредность? Это будут студентские налоги.
The Ramsey Show
Define Your Future By Setting The Right Financial Priorities
Редактор субтитров А.Семкин Корректор А.Кулакова Мелодия, как мы можем помочь?
The Ramsey Show
Define Your Future By Setting The Right Financial Priorities
Итак, что за зарплата? Какая минимальная зарплата на студентском налоге сейчас? Три из них вместе.
The Ramsey Show
Define Your Future By Setting The Right Financial Priorities
Вот я пытаюсь сказать, что если вы остаетесь с этим, если вы остаетесь с этим и вы работаете над этим планом, то, во-первых, вы должны остановить еду. Нет больше. Вы должны остановиться, вы должны... Покупайте турецкие сэндвичи вечером, приготовьте яйца и бекона для ужина.
The Ramsey Show
Define Your Future By Setting The Right Financial Priorities
Вы аккаунт, ваша проблема не в суммах, проблема в поведении. И если вы попробуете это за месяц и скажете, что все в порядке, мы не будем ехать ни разу, только чтобы посмотреть, сколько денег вы можете заплатить. И суть в том, что мы отбираем студентские налоги, затем мы отбираем карты, и вдруг у вас больше маржин, чем вы понимаете.
The Ramsey Show
Define Your Future By Setting The Right Financial Priorities
Это примерно так, как это выглядит, потому что они не в двух разных сферах. Нет, нет, нет, нет, нет, окей, подождите, только для точки зрения здесь, окей, мы не будем скучать на этом, но я должен помочь моему другу, Рейчел, и Мелани, я должен помочь тебе. Рейчел должна помочь мне здесь. Нет, нет, она не понимает, и когда она понимает, Рейчел, слушай меня, вот что происходит.
The Ramsey Show
Define Your Future By Setting The Right Financial Priorities
Я знаю, что вы расстроены, но у вас больше маржин в этом бюджете, чем вы понимаете. Но вы должны изменить свои спендинговые навыки. И если вы это сделаете, и если мы сможем получить немного дополнительного дохода, мы продаем что-то в этом сноуболе, что-то у нас есть, мы можем найти маржин довольно быстро, как детально, как вы.
The Ramsey Show
Define Your Future By Setting The Right Financial Priorities
Вы и ваша жена должны сидеть и думать, что если мы сделаем это, и мы сделаем это, и мы сделаем это, как в шоке, за следующие 6-12 месяцев, вот как много прогресса мы сделаем. И вдруг вы думаете, что это делается. Я думаю, что вы просто расстроены сейчас.
The Ramsey Show
Define Your Future By Setting The Right Financial Priorities
Окей, у тебя есть $1,000, это то, куда ты стоишь? Да. Можешь продать вашу жену автомобиль? Мы уходим из времени, но ты должен посмотреть на все. Сделать машины, все. Ты должен уменьшить твои месячные зарплаты и увеличить твою зарплату. Так что для тебя, мой друг, я знаю, что ты аккаунт, но сейчас много работ для аккаунтов.
The Ramsey Show
Define Your Future By Setting The Right Financial Priorities
Я бы работал 60-80 часов в неделю, делая аккаунтную работу, потому что ты можешь получать очень хорошо зарплату для фрилансовой работы. Зарплата увеличивается, зарплаты уменьшаются.
The Ramsey Show
Define Your Future By Setting The Right Financial Priorities
Одна компания, назовем ее ABC, платит Мелани, чтобы работать в полном времени. Да. Это, что, 40 часов в неделю минимум, Мелоди? Да. Окей. Да. Компания XYZ также плачет Мелоди за 40 часов в неделю. И, Мелоди, расскажи, сколько часов ты работаешь в неделю для обеих компаний? 80. Я не видела этого, она пытается поднять меня к технике.
The Ramsey Show
Define Your Future By Setting The Right Financial Priorities
Добро пожаловать в «Рамзи»! Мы рады, что вы с нами. Меня зовут Кен Коулман. Рэйчел Круз присоединяется к нам. Мы здесь, принимая ваши звонки, 888-825-5225. Мы говорим о вашей жизни, то ли это ваша ситуация с денег, ваша ситуация с работой. Мы здесь, чтобы помочь вам сегодня. Давайте перейдем к Агдену, Ютубе. Конор здесь. Конор, как нам помочь?
The Ramsey Show
Define Your Future By Setting The Right Financial Priorities
Я curious to know, are you two leaning the same way, one of you leaning one way, one leaning the other?
The Ramsey Show
Define Your Future By Setting The Right Financial Priorities
Как много ты думаешь, что ты сможешь заработать за месяц в колледже? Если бы ты заплатил за некоторые из этих имуществ.
The Ramsey Show
Define Your Future By Setting The Right Financial Priorities
Окей, так что, опять же, это будет 18-19 тысяч долларов, 20 тысяч? Я не очень хороший в математике, но где-то в этом ряду, да? 15, 16, где-то так. Так что ты должен сидеть с женой и сказать, окей, вот это заработок, который ты бы заплатил, но это не включает зарплаты, которые Рейшел упоминала. Это не будет бесплатно и очевидно 15-18 тысяч долларов.
The Ramsey Show
Define Your Future By Setting The Right Financial Priorities
Георгий Кэмпбелл сделал это на звонок. Я сказал, что это очень хороший упражнение, потому что это стоит? Это стоит все это работа? Позвольте просто назвать это нотой, просто для простых цифр, 14 тысяч долларов в год. Вы будете иметь зарплаты. Вы просто будете иметь. И вы получите все это за 14 тысяч. И к Рачелу, что это за продажа на огромную оплату или покупку дома в кэш?
The Ramsey Show
Define Your Future By Setting The Right Financial Priorities
Я все еще думаю, что это неэффективно, что они не знают друг друга.
The Ramsey Show
Define Your Future By Setting The Right Financial Priorities
В этом моменте вашей религии. Я бы тоже убил дом. Я действительно бы хотел. Но ты должен сидеть со своей женой и рассматривать.
The Ramsey Show
Define Your Future By Setting The Right Financial Priorities
И опять же, не чтобы судить тебя, Мелани, потому что нет судов, это больше защита.
The Ramsey Show
Define Your Future By Setting The Right Financial Priorities
Блок-партии, игры и все такое.
The Ramsey Show
Define Your Future By Setting The Right Financial Priorities
Я была старой душой. В колледжах. Я думаю, что ты еще старая душа.
The Ramsey Show
Define Your Future By Setting The Right Financial Priorities
Мелисса в Чатануге, Теннесси. Не начинай с Чатануга. Мелисса, как нам помочь?
The Ramsey Show
Define Your Future By Setting The Right Financial Priorities
Это много. Я понимаю. Что будет выглядеть в интернете? Если они отключат это на маленьком месте, где ты в позиции менеджера, и ты идешь в большее место, где директор, в какой роли ты? Ты делаешь то же количество денег?
The Ramsey Show
Define Your Future By Setting The Right Financial Priorities
Хорошо, если бы вы знали, что путь был 2-3 года, это было гарантированно, что вы будете менять ее, вы бы были на телефоне с нами?
The Ramsey Show
Define Your Future By Setting The Right Financial Priorities
Я просто не уверена, что это правильный выбор для меня.
The Ramsey Show
Define Your Future By Setting The Right Financial Priorities
Я бы провел время сейчас, думая о вашем дальнейшем будущем, понимая, что у вас есть безопасная опция, чтобы как минимум взять это для последнего, пока вы все еще это решаете. Так что я просто хочу, чтобы вы дышали.
The Ramsey Show
Define Your Future By Setting The Right Financial Priorities
Как вы все делаете сегодня? Ну, у нас шок, Левай, что у вас?
The Ramsey Show
Define Your Future By Setting The Right Financial Priorities
Это не тревожит меня в том смысле, что я думаю, что она плохая. Это просто рискованно для Мелани. Я буквально играю защитного администратора, чтобы она сказала, что я не скажу тебе, что ты сделал неправильно. Моя работа — это помочь тебе продолжать получать зарплату и не быть подозреваемым. Да.
The Ramsey Show
Define Your Future By Setting The Right Financial Priorities
Поздравляю! Какой будет твой бюджетный фонд? Три или шесть месяцев? Четыре месяца? Пять месяцев? И сколько будет?
The Ramsey Show
Define Your Future By Setting The Right Financial Priorities
Хорошо. Сколько вы думаете на ринге? У нас есть Рэйчел, которая, как мне кажется, эксперт в этом. Когда это касается жюри, она эксперт в ринге.
The Ramsey Show
Define Your Future By Setting The Right Financial Priorities
Итак, я предполагаю, что она будет ответить «Да». Вы чувствуете себя довольно уверенным, что мы будем ответить «Да». Есть ли ожидания для родителей, чтобы вы все продолжали жить вместе, и для вас, чтобы вы должны обращать внимание на них?
The Ramsey Show
Define Your Future By Setting The Right Financial Priorities
Понятно. И вы все в этом? О, я вижу, что вы там делаете.
The Ramsey Show
Define Your Future By Setting The Right Financial Priorities
Так что теперь вопрос в том, возьму ли я эту другую работу, которая имеет бонусы выше и выше 100 баз, плюс путь к развитию, Мелани. Ты сказала, что это работа, которая лучше для тебя в дальнейшем.
The Ramsey Show
Define Your Future By Setting The Right Financial Priorities
Да, вы знаете, где вы будете регистрированы? Он не знает, что я только что сказал. Вы даже знаете, что это означает? Я не, я не. О, это так здорово, я знал это. Ну, она может объяснить это тебе. Это то, где родители, это то, где родители, они идут и делают свои подарки.
The Ramsey Show
Define Your Future By Setting The Right Financial Priorities
Now I'm not working 80 hours a week.
The Ramsey Show
Define Your Future By Setting The Right Financial Priorities
You're not cheating on another company.
The Ramsey Show
Define Your Future By Setting The Right Financial Priorities
And again, it may be a lifestyle shift, because it's a hybrid idea.
The Ramsey Show
Define Your Future By Setting The Right Financial Priorities
But maybe you get into that, and it works, and it's great, and you figure out the logistics with the kids, and your kids are in school, which is helpful.
The Ramsey Show
Define Your Future By Setting The Right Financial Priorities
Or you pan back a year from now and say, wow, this is hard.
The Ramsey Show
Define Your Future By Setting The Right Financial Priorities
Итак, что остальное? Из 20, что еще у вас есть?
The Ramsey Show
Define Your Future By Setting The Right Financial Priorities
Мелоди, ты же знаешь, что я на команде Мелоди, да?
The Ramsey Show
Define Your Future By Setting The Right Financial Priorities
Я не. Так что ты должен ввести бонус, амортизировать это за 12 месяцев. И потом ты начинаешь смотреть на месяц.
The Ramsey Show
Define Your Future By Setting The Right Financial Priorities
Так что мой момент, я думаю, что в целом, это не будет так много разницы в коротком времени, и мы знаем, что в длительном времени это лучше, если ты возьмешь этот новый работу.
The Ramsey Show
Define Your Future By Setting The Right Financial Priorities
Да, Мелоди, возьми работу. Боже мой, ты должен уйти из тюрьмы свободно на этом. Я имею в виду, ой! Кстати, это новая тренда. Она не одна. Есть миллионы американцев, которые профессиональные полигамы. Они имеют два полного работа, и они не знают друг друга. И это шутка. Я не волнуюсь, как вы его срезаете. Я за все, чтобы вы получили их зарплату.
The Ramsey Show
Define Your Future By Setting The Right Financial Priorities
Но, боже, ты можешь попасть в огонь, и это сделает меня нервничать, понимаешь? О, боже! Это «Рэмси-шоу».
The Ramsey Show
Define Your Future By Setting The Right Financial Priorities
Да, с детьми. Вы делаете общение с детьми из разных людей? Какова ситуация?
The Ramsey Show
Define Your Future By Setting The Right Financial Priorities
Я позволяю Рэйчел принимать большие цели в отношениях и денег.
The Ramsey Show
Define Your Future By Setting The Right Financial Priorities
Я просто хочу отметить что-то, что появилось дважды в разговоре с нами. И я просто хочу уйти от этого. И я позволяю Рэйчел помочь тебе на этом. И я могу ввести себя в это. Но... Эта идея, что Библия говорит о том, что вы цените родителей вашего мужа, эта идея, что это означает, что вы потеряете сына. Нет, нет, нет, нет.
The Ramsey Show
Define Your Future By Setting The Right Financial Priorities
Это все будет падать под то же оборудование, на которое Рачель посоветовала вас, если вы все будете на одной странице. И не важно, если дети приходят из предыдущих отношений или нет. Нет, ни в коем случае ты не собираешься, или, как ты говоришь, не принадлежишь сыну. Это не часть эквазии, и если это часть разговора, это не здорово, и ты сделал правильное дело ходить.
The Ramsey Show
Don’t Become a Victim of Your Circumstances
And the key there, Timothy, is what George just laid out for you. The time it's going to take to save up the down payment, the right kind of down payment, you're going to have all of those qualifications taken care of. So deep breath, exhale, and don't listen to all the voices that want to throw an opinion at you. George just gave you the absolute truth.
The Ramsey Show
Don’t Become a Victim of Your Circumstances
There is no other opinion you need to be considering. Period.
The Ramsey Show
Don’t Become a Victim of Your Circumstances
And Timothy, the only thing I'd add is I don't want you to take some of this nervous energy and let's put it into making more money. You're working two jobs and pulling down $35,000. I want to see that change. You need to be getting more money for your time. And so put all that energy into increasing your income right now.
The Ramsey Show
Don’t Become a Victim of Your Circumstances
You have everything else under control, and that focus on making more money will help with your nerves. George gave you a lot of clarity. And the clarity that George gave you should give you confidence now, right? So we want confident Timothy going out there. He's got a plan. And let's go make more money because more money allows us to advance the plan quicker.
The Ramsey Show
Don’t Become a Victim of Your Circumstances
Where is she right now? I get the same page thing, but what's the actual conversation, the latest status to her emotion, her openness? Give us a better picture.
The Ramsey Show
Don’t Become a Victim of Your Circumstances
Well, it's just people don't know what they're talking about. And so that's why they come here and George just dispels the fake news, folks. Buck the system. I'm all about it. There it is. That's why he wrote the best-selling book, Breaking Free from Broke. Go get it. Listen to the man. He's wearing corduroy. That's credibility. That's all you need to know. It's all the credibility you need.
The Ramsey Show
Don’t Become a Victim of Your Circumstances
All right, quick break. More of The Ramsey Show coming right up.
The Ramsey Show
Don’t Become a Victim of Your Circumstances
Welcome back to The Ramsey Show alongside George Campbell. I'm Ken Coleman. The phone number is 888-825-5225. 888-825-5225. What are your money questions? You need to know what to do with it. You need to make more of it. Well, you got the duo today. We want to help you make more money and keep it. Let's go to New York City where Rob joins us. Rob, how can we help today?
The Ramsey Show
Don’t Become a Victim of Your Circumstances
Welcome to the Ramsey Show, America. This is where we coach you to win in your life. We want you to win with your money, win in your profession, and win with your relationships. The phone number to jump in today is 888-825-5225. 888-825-5225. Alongside George Camel, who's looking natty and just looking sharp, man. Thank you. The apparel today, the corduroy gold.
The Ramsey Show
Don’t Become a Victim of Your Circumstances
Rob, I feel you. I'm so glad you called today. I feel like I walked into this studio today in large part to get to talk to you. Man, this is, first of all, kudos. The first half of your description of you, George, is like you're the poster child for George. But then you start talking about eating wild plants and fishing, and then you lost him.
The Ramsey Show
Don’t Become a Victim of Your Circumstances
But the fact that you've saved $200,000 at 25, George.
The Ramsey Show
Don’t Become a Victim of Your Circumstances
So I'm proud of you. So Rob, you're a young guy. You may never have heard this phrase before, but I'm going to introduce it to you because I think it's a great metaphor for where you are. There's an old phrase called the golden handcuffs, and it's referring to somebody who had been at a company for a long time. They make good money.
The Ramsey Show
Don’t Become a Victim of Your Circumstances
They got great benefits, strong retirement, and they don't want to be there, but they feel the golden handcuffs because it's good money. And there's an emotional handcuff there that says, if I were to leave this, it would be foolish. Those who don't have what I have would think that I'm crazy. And I think you're experiencing that rarely enough at the age of 25. Does that feel right to you?
The Ramsey Show
Don’t Become a Victim of Your Circumstances
I think you should probably enjoy life a little bit more. But the good news is George is on today, and George can speak to that. I am, in a fun way, I play with you a little bit on this because George does very well. But he really is the most frugal person, and he will say things sometimes in conversation.
The Ramsey Show
Don’t Become a Victim of Your Circumstances
We sit right next to each other, and he will say things sometimes where I literally look at you and I go, bro, you've earned it. Live a little bit. So I want you to speak to that mindset in a minute, but I want to first focus on this biggest issue. Rob, you don't need George and I's permission today.
The Ramsey Show
Don’t Become a Victim of Your Circumstances
But I think you need to hear us say it is okay for you to leave New York in a really good-paying job to go do something somewhere else that is more in line with the way you want to live, and you can still make that $120K and more. And I think just acknowledging that, I hope, will set you free today. That doesn't mean you leave today. And it doesn't mean you walk in and resign and just go, whee!
The Ramsey Show
Don’t Become a Victim of Your Circumstances
Oh, she gave you an ultimatum. Two years.
The Ramsey Show
Don’t Become a Victim of Your Circumstances
But if there's anybody who could, you could, because you got $200,000 in the bank. That's financial peace right there. And so my question is, what's the work that you're doing? What field are you in?
The Ramsey Show
Don’t Become a Victim of Your Circumstances
You know why? You're trying to prove something to somebody.
The Ramsey Show
Don’t Become a Victim of Your Circumstances
There you go. Hey, by the way, the voice in our head is the most damaging. The hardest person to please. So here's what I would say in short order. You enjoy doing work in the finance field.
The Ramsey Show
Don’t Become a Victim of Your Circumstances
So there are lots of ways you can do that somewhere else where you're close to fishing, where you're in an environment that you enjoy and the hobbies and the things that you need to be healthy distractions from this
The Ramsey Show
Don’t Become a Victim of Your Circumstances
And then after two years, would you have the flexibility or the freedom to say, all right, we want to move back to the town you're in now?
The Ramsey Show
Don’t Become a Victim of Your Circumstances
This voice that you're dealing with that says, I've got to prove, I've got to prove, I've got to prove, and boy, you're talking to a guy who is currently in recovery from that kind of stuff. I'm as serious as I can be. I get it. I've been living my life with a chip on my shoulder because of something that happened to me when I was 14.
The Ramsey Show
Don’t Become a Victim of Your Circumstances
Listen, I'm in the middle of recovery. I'm being as vulnerable as I can be. I'm uncomfortable right now, James, how vulnerable I'm being. But Rob, so what has helped me is to go, wait a second, there's this voice in my head that is constantly asking, am I good enough?
The Ramsey Show
Don’t Become a Victim of Your Circumstances
So I don't know what your voice is, but I think at this stage of your life at 25, the fact that you resonated with something that I said and it's in your story and I'm not going to unpack that on the air, I think you know what it is. But can I tell you, I would go get some therapy and dig on that now at 25.
The Ramsey Show
Don’t Become a Victim of Your Circumstances
And I think that will be the bridge that you build mentally and emotionally that will lead you out of New York alive. leads you to where you need to be and doing similar work that you're doing. And I think you'll be more fulfilled than you can ever imagine. George, I want you to weigh in on that because you also have a unique point of view. And I think you resonate with this as well.
The Ramsey Show
Don’t Become a Victim of Your Circumstances
Well, listen, I've been married almost 27 years. Based on what I'm hearing, it feels like she is on the same page. She's not thrilled about it, but she's willing. And I think that willingness, she gets to determine willing, you know? And it sounds like she is, unless I'm missing something.
The Ramsey Show
Don’t Become a Victim of Your Circumstances
That's great insight. You know, that's a great insight, Rob. Maybe it's not New York. Maybe it's just you and functioning in New York. But just for a fun exercise, if you could snap your fingers right now and you're doing similar work and you're making similar money with a nice path to making more money, is there any place in the U.S.
The Ramsey Show
Don’t Become a Victim of Your Circumstances
that you would just go, okay, if I could transplant from where I am to here, Ken, I think that would be a fun adventure to see if that was awesome. What comes to mind?
The Ramsey Show
Don’t Become a Victim of Your Circumstances
So, so Rob, the answer is never to yo-yo. And when any of us yo-yo, we're not healthy.
The Ramsey Show
Don’t Become a Victim of Your Circumstances
You know what I think you ought to do? And I'm going to be super, super practical here, George. Please. Tell me what you think. I think you need to spend a weekend. You got all kinds of money. I'd like to see you rent a cabin up there in Sleepy Hollow and see if you can find Ichabod Crane while you're up there. You know, the headless horseman, the whole nine yards.
The Ramsey Show
Don’t Become a Victim of Your Circumstances
and practice this idea of being present i think you've self-diagnosed pretty well george that's what i'm i think he knows he's not present and i think he needs to feel something you know and that's when you see is scratching the itch enough or is this a full-time move i need to get out of the city completely forever that's right and we can't decide that for you rob but i hope we've given you enough next tactical steps to get there yeah rob listen to your heart
The Ramsey Show
Don’t Become a Victim of Your Circumstances
I'm just telling you, listen to your heart. Listen to your heart. And then engage the brain. The logic, it can move on its own, but the heart and the head must be connected on big moves like this. But I think you're a sharp young man, and I think you're going to do great things. This is The Ramsey Show.
The Ramsey Show
Don’t Become a Victim of Your Circumstances
Welcome back to The Ramsey Show alongside George Camel. I'm Ken Coleman. The phone number to jump in is 888-825-5225. Let's go to Jessica, who is joining us in Knoxville, Tennessee, just on the other side of the state. Jessica, how can we help?
The Ramsey Show
Don’t Become a Victim of Your Circumstances
So then take it. So it's almost like you needed some confidence today. Absolutely. Yeah. Well, listen. the more you waver with her willingness, it could affect her willingness. And so in this situation, the fact that you're a young couple, you're engaged to be married, you guys are playing house already. Have you proposed yet?
The Ramsey Show
Don’t Become a Victim of Your Circumstances
Oh, no. Can you describe that briefly to us?
The Ramsey Show
Don’t Become a Victim of Your Circumstances
And this entire time, you have always said, stop doing this. I'm not in favor of this. This scares me.
The Ramsey Show
Don’t Become a Victim of Your Circumstances
And he's not participating in therapy. So I think we've got some real clear gates that you have walked through here, and I think certainly separation is of order here to see if there's a wake-up call.
The Ramsey Show
Don’t Become a Victim of Your Circumstances
I must have seen the works. I just assumed that. Thank you, George, for correcting that. But I just think the fact that she said, all right, I'm willing to do it for the two years. She's not thrilled about it. This is a sacrifice that couples have to learn to make.
The Ramsey Show
Don’t Become a Victim of Your Circumstances
And that's my question. Does your disability prohibit you from being able to make a steady income?
The Ramsey Show
Don’t Become a Victim of Your Circumstances
Why? Because you'll lose the disability payment? Disability. How much is the disability payment? Hold on a second. But you missed my question, Jessica. I'm saying, is there an end to this physical challenge that you will be able to get through through medical care? Or is this a, I'm trying to understand what you can actually do. Forget the benefit payment.
The Ramsey Show
Don’t Become a Victim of Your Circumstances
So you are unable to work from home, do a remote job, and work 40 hours a week? Correct. Okay. That's what I wanted to understand. So you've got a, this is George, this is a fixed and a very low fixed income. Yeah.
The Ramsey Show
Don’t Become a Victim of Your Circumstances
And I would say, Jessica, George told you, I hope you caught it. Pay off the debt today, your debt. Go ahead and do that. I know that cash is very attractive sitting in that savings account, but one of the best things you can do to protect yourself on a very low fixed income is to have no debt. So I'm glad she has that, right, George? Yeah. That's what we want. Saving grace. Quickly.
The Ramsey Show
Don’t Become a Victim of Your Circumstances
Yeah, man, that's so sorry. Tough, tough call. Today's question of the day is brought to you by YRefi. YRefi refinances defaulted private student loans. Defaulted means when the borrower can't make the required payments. So if that's you and your private student loan, contact YRefi. They can offer a low fixed rate loan built for you. Go to YRefi.com slash Ramsey today.
The Ramsey Show
Don’t Become a Victim of Your Circumstances
That's the letter Y. R-E-F-Y dot com slash Ramsey. It may not be available in all states.
The Ramsey Show
Don’t Become a Victim of Your Circumstances
And I would tell you there will be a season or two or three, who knows how many seasons, that you're going to have to sacrifice for her as well. So this is a good woman on the surface here that she's willing to do this because she really likes what she does.
The Ramsey Show
Don’t Become a Victim of Your Circumstances
Oh, it's a no question. If that's you, every dime is going.
The Ramsey Show
Don’t Become a Victim of Your Circumstances
A quick follow-up question for new folks that are joining us all the time. We have so many people joining us all the time that are new to the show, George. When you say sinking funds, are those separate savings accounts or is it all just clearly earmarked in one savings account?
The Ramsey Show
Don’t Become a Victim of Your Circumstances
And you don't have to have an Excel spreadsheet for that when you've got the separate accounts. Nope, and you can set it up in your every dollar budget. I love throwing George the questions like that. I try to get in the mind of the people. One of these days you're going to catch me, Coleman. I don't think so. I think you're too smart. All right, fun hour. This is The Ramsey Show.
The Ramsey Show
Don’t Become a Victim of Your Circumstances
And to the extent that you can be supportive of her and help her figure out how can I do something that's very similar to the work that I love right now in this new town, that would be great too. But, George, I would not waffle on her willingness. I would say, okay, thank you, sweetheart. Let's go. Two years from now we come back.
The Ramsey Show
Don’t Become a Victim of Your Circumstances
Welcome to the Ramsey Show. I'm Ken Coleman. George Camel is alongside, and we are here to help you win with your money, win in your profession, and win in your relationships. 888-825-5225 is the phone number. 888-825-5225. Chris is going to start us off in Grand Rapids, Michigan. Chris, how can we help?
The Ramsey Show
Don’t Become a Victim of Your Circumstances
What was the attempt? Describe the attempt to help.
The Ramsey Show
Don’t Become a Victim of Your Circumstances
I agree. And Chris, I have a question. Did they ask to stay with you or did your wife offer?
The Ramsey Show
Don’t Become a Victim of Your Circumstances
And so is the mother-in-law able to work? Does she have a past or history?
The Ramsey Show
Don’t Become a Victim of Your Circumstances
When this happened last time, how long did they stay? And was there a same kind of a deal? This is a certain amount of time or was that not the case?
The Ramsey Show
Don’t Become a Victim of Your Circumstances
If you said to your wife today, hey, babe, I think I need to be the man of the house. I know they're your parents, but I'm the man of the house here. To a lot of people, that may sound archaic, but I'm going to stick with it, George. And you said to her, I'd like to have a respectful conversation, but say, hey, the month is coming up.
The Ramsey Show
Don’t Become a Victim of Your Circumstances
We agreed to a month and we think that you guys need to move out. It's best for everybody. And we can't. We've tried to help. You've met it with resistance. And I'm enabling you some form of that speech in Chris's words. If you suggested that to her, how would she react?
The Ramsey Show
Don’t Become a Victim of Your Circumstances
All right. But my point in asking that was if she's not comfortable with you doing it, is she comfortable doing it?
The Ramsey Show
Don’t Become a Victim of Your Circumstances
That's what I would do. I'd let her lead, but I would keep saying, babe, I'm here to support. You got to have this conversation. If you're not comfortable, I'll be the bad guy, but you've got to kind of, you really got to keep that thing going. You cannot, cause it's going to end up affecting your relationship.
The Ramsey Show
Don’t Become a Victim of Your Circumstances
Unless she's not willing. That's why I threw that out there.
The Ramsey Show
Don’t Become a Victim of Your Circumstances
I think it's not already. Sorry, George interrupt. I apologize. I, I think that thanks. I want to point this out and tell me if you disagree. Yeah. Because I want Chris to hear this. I think his wife needs to hear this. I don't see a scenario where this doesn't really ruffle their feathers. It sounds like the parents are like, look, leave us alone. We'll figure it out on our own.
The Ramsey Show
Don’t Become a Victim of Your Circumstances
Obviously, they don't know how to, and they're not interested in leaving anytime soon. And there is a sense of entitlement. This is now not an entitled, spoiled teenager situation. These are entitled adults. That's scarier. Who aren't mature in their finances and they are leveraging their parental position over their daughter. And I don't see how this goes well. Well, it's unfair.
The Ramsey Show
Don’t Become a Victim of Your Circumstances
It's manipulative. It's immature. My point is that I think this is a rip the Band-Aid off. Respectfully, I don't mean like, you know, slash and burn, but I don't see how this goes well at all other than It frees up. Chris and his wife and creates a boundary that needs to be in place. Do you agree with that?
The Ramsey Show
Don’t Become a Victim of Your Circumstances
And you know, what's interesting too, uh, George, what I heard, I appreciate that Chris and his wife wanted to help him do a budget, but you know what? Showing somebody how to do a budget is not enough. If they don't want to do it, no amount of instruction or... They're not experiencing enough pain right now because they're living rent-free.
The Ramsey Show
Don’t Become a Victim of Your Circumstances
You know, I was just sitting here thinking, because I have 19-year-old to 16-year-olds. I don't want my kids coming back to live with me. I love my kids. I'm brokenhearted with my oldest at college for the first time, right? But at the same time, it's natural. It's normal. And I don't want him to come back and live with me.
The Ramsey Show
Don’t Become a Victim of Your Circumstances
The only thing worse than your kids coming back to live with you are your parents. Can you imagine if you and Stacey... Unless it's a health situation and you're their caregiver. That's the asterisk.
The Ramsey Show
Don’t Become a Victim of Your Circumstances
You bailed me out from all the hate. What I'm saying is if your parents come back to live with you because they can't support themselves financially, because of their irresponsibility, that's what I'm saying. Oh, wow. Not easy. Tough stuff, Chris. But you and your wife, you got the right instincts. Follow them. This is The Ramsey Show.
The Ramsey Show
Don’t Become a Victim of Your Circumstances
Welcome back to The Ramsey Show alongside George Camel. I'm Ken Coleman. So excited you're with us. 888-825-5225 is the phone number. Let's go to Des Moines, Iowa. Monica is there. Monica, how can we help today?
The Ramsey Show
Don’t Become a Victim of Your Circumstances
Okay. Give us the numbers. George has got his handy calculator ready to crunch.
The Ramsey Show
Don’t Become a Victim of Your Circumstances
What would be three to six months' expenses for you?
The Ramsey Show
Don’t Become a Victim of Your Circumstances
Okay, so you have more than three to six months in that savings account with the $12,000. That's what I was trying to get to.
The Ramsey Show
Don’t Become a Victim of Your Circumstances
Monica, quick question, George, before you get to your crunching of numbers. Do we expect to marry this significant other?
The Ramsey Show
Don’t Become a Victim of Your Circumstances
I'm not sure what church is good with that situation, Monica. Correct. No judgment here. So working on that. I love that you're working on it. She's working on it.
The Ramsey Show
Don’t Become a Victim of Your Circumstances
But see, that changes the equation a little bit, George. I wanted you to have that information.
The Ramsey Show
Don’t Become a Victim of Your Circumstances
Yes. Have you had this conversation with him that just how you feel about your own finances? Yes. How does he react?
The Ramsey Show
Don’t Become a Victim of Your Circumstances
But I don't sense that. I don't sense that that's happening, because he's calling us. He already has the green light from her to say, sure, I'll go. Am I right? It's a reluctant I'll go. I think Charles is a little bit scared. Should I do this? Is that right, Charles?
The Ramsey Show
Don’t Become a Victim of Your Circumstances
Yeah, well, and George is addressing that plan. So when George hits you with that, what is your reaction that you can do tangibly when it comes to income, saving more? What immediately comes to mind? Because you've got to stop worrying and start getting busy. Part of this challenge is you didn't have a clear vision of what you need to do. George just gave it to you.
The Ramsey Show
Don’t Become a Victim of Your Circumstances
But now the second thing is we start getting busy. And the busier I am attacking something that is a potential problem, the less I'm worried about it. Do you resonate with that?
The Ramsey Show
Don’t Become a Victim of Your Circumstances
Okay, so what can you do tactically coming out of what George just told you?
The Ramsey Show
Don’t Become a Victim of Your Circumstances
Yes. Let's go get it, Monica. You can sell. You are a six-figure earner. Let's go. You want to attack this worry and sleep well at night? Start making some more money and putting more money away. Agreed. Come on, Monica. Do not let this fear happen to you. You need to happen to it. Let me tell you something I've learned, okay?
The Ramsey Show
Don’t Become a Victim of Your Circumstances
I've had the privilege at Ramsey Solutions, not counting the Ramsey Show, but on the Ken Coleman Show, George, I've coached over 10,000 people. And they're trying to make more money or experience more meaning in work. And Monica, here's what I want you to hear. There's a formula that I've learned. Because people call me and they're paralyzed. Do I take this job? Do I stretch out to this?
The Ramsey Show
Don’t Become a Victim of Your Circumstances
Do I get a degree? You know, they're trying to figure out what do I do to make my life better through my work. And here's what I've learned, George. You've heard me say this. And Monica, I want you to catch this. Clarity always breeds confidence. And confidence breeds courage. And I think that's what you need today. And George just gave you tremendous clarity. And you got it.
The Ramsey Show
Don’t Become a Victim of Your Circumstances
You repeated back exactly what we would want you to do. There's your clarity. Let that clarity out. That action plan that you laid out for us so clearly, let that be the thing that you focus on and watch what happens, George. Your confidence is going to go up. And then the confidence... Gives you that courage to keep going, keep trying, get a new gig here.
The Ramsey Show
Don’t Become a Victim of Your Circumstances
Well, the fact is she's a good woman, and you're a good dude. The reason that you're thinking through this is because you really do have a sense of the compromise that she's making. And I think George is right. I think you guys as a couple need to figure out what our future is. You need to put a ring on her finger soon, and you guys need to start playing this out. What does this look like?
The Ramsey Show
Don’t Become a Victim of Your Circumstances
Monica, you're going to be okay. This is The Ramsey Show.
The Ramsey Show
Don’t Become a Victim of Your Circumstances
Welcome back to the Ramsey Show. I'm Ken Coleman. George Campbell joins me. And we're thrilled you're with us. 888-825-5225. So this is fun. We get to do this every once in a while. We got John on the line, George. And John is from the Miami area. And he's 46 and he's single. That's what I know. And John reached out to us and he said, I need some help with my budget. And we love this.
The Ramsey Show
Don’t Become a Victim of Your Circumstances
So we're going to go through the numbers. We got, I mean...
The Ramsey Show
Don’t Become a Victim of Your Circumstances
the budget man right next to me that's like cracking my fingers ready to go i love it the people heard you crack the knuckles that was real life no sound effects so this is real so i've plugged it into our budgeting app every dollar so these are john's real numbers here and we're going to see what his situation is we're going to walk through it right now all right let's go john are you there yeah hi guys how are you well we're great man how are you feeling about this live on air uh budgetectomy
The Ramsey Show
Don’t Become a Victim of Your Circumstances
What kind of money does she need to make? What's the job market look? She's got a head start on this. So the fact that we have a general idea of what she loves helps. What we don't know is your location. And when will you know that?
The Ramsey Show
Don’t Become a Victim of Your Circumstances
I got good news, John. I don't know what the bad news is going to be. George is going to let you know shortly. The good news is you can get out of this, and boy, oh boy, do you have the man to help you. He's wearing corduroy today, so he's got a little extra credibility and confidence. All right, George, take it away. Let's do this.
The Ramsey Show
Don’t Become a Victim of Your Circumstances
And what would you say is the reason why you're having a hard time finding full-time employment?
The Ramsey Show
Don’t Become a Victim of Your Circumstances
Are you getting opportunities and just not winning the job, or is it a lack of interviews?
The Ramsey Show
Don’t Become a Victim of Your Circumstances
Okay, and when you look at the field, are there multiple opportunities that you see out there that you are qualified for and are in the range of salary that you're used to making?
The Ramsey Show
Don’t Become a Victim of Your Circumstances
Yeah, well, that is true. I mean, the white-collar jobs right now, we've seen a slow, slowing, what they call a softening in the job economy. So that's real. But let's stay on the budget, but we do got to talk about income here. Go ahead, George.
The Ramsey Show
Don’t Become a Victim of Your Circumstances
So I'm trying to figure out what her... About a year lead time on this? How much lead time will she have when you can say to her, hey, we're moving to this town?
The Ramsey Show
Don’t Become a Victim of Your Circumstances
That's right. The live stream tonight. It's in the lobby right now. Rehearsals are happening as we speak. I hope everyone listening joins us. Oh, I like that, too.
The Ramsey Show
Don’t Become a Victim of Your Circumstances
Okay. So, you know, it's not a six-month lead time, but it's enough time to do some work and figure this out. And I think that you guys got to start this marriage with this, hey, we are going to bend together so that we don't break. And she's showing a willingness to bend. And so you want to help her get back into the work that she loves, return that favor.
The Ramsey Show
Don’t Become a Victim of Your Circumstances
Yeah, the work you're doing on these, you told us you had these contracts. Is that remote work?
The Ramsey Show
Don’t Become a Victim of Your Circumstances
The white-collar world, the kind of jobs, it is tightened. It is a softer market.
The Ramsey Show
Don’t Become a Victim of Your Circumstances
so you're working really hard to replace it however you're also at home depot or lowe's or walmart or whatever you are working you've got operational experience you've been a manager of of processes that is extremely versatile and valuable my point is you're waiting for another contractor job while you're looking you are working working working to knock these credit cards down that's the key to winning on this deal
The Ramsey Show
Don’t Become a Victim of Your Circumstances
George, tell people how they can get every dollar just like we recommended to John.
The Ramsey Show
Don’t Become a Victim of Your Circumstances
Welcome back to the Ramsey Show. You know, I think back, George, by the way, I'm Ken Coleman, George Camel with me today here. I think back to that last call with John as you were walking him through every dollar. You know, the theme there is, John, you've got to take control of your money. He's been very successful, but he's never really had control of his money.
The Ramsey Show
Don’t Become a Victim of Your Circumstances
And by the way, you know, no judgment or shame there. We've all been there before. And the idea of taking control of your money, that thought leads to an action, George, that, again, can turn anything around. And we've seen some extreme turnarounds here in our time at Ramsey Solutions and as co-hosts of The Ramsey Show.
The Ramsey Show
Don’t Become a Victim of Your Circumstances
And it just makes me think again tonight why tonight's live stream is so important. It's a free live stream event. We've got over 400,000 people registered to join this free event. It's free. Live on YouTube, 7 central tonight. And if you're one of those people right now, you're listening to us or watching us, you're going, I've never truly taken control of my money.
The Ramsey Show
Don’t Become a Victim of Your Circumstances
And I think if you do this with a lot of sensitivity, but also with confidence. then I think you guys will be okay. Sensitive confidence. That's how I've always thought about you, Ken. Well, I'm trying to get to the sensitive part. I'm working on it, George.
The Ramsey Show
Don’t Become a Victim of Your Circumstances
I really think you ought to tune in tonight, George.
The Ramsey Show
Don’t Become a Victim of Your Circumstances
Now, you don't want to miss a minute of this, obviously, because every minute is planned out. But people are at home. Life happens. And for people who love you, George, because it's a growing number. We're up to 10? It's really a large group of people. Do you have any idea about what time you're going to appear if you look at the minute by minute?
The Ramsey Show
Don’t Become a Victim of Your Circumstances
So the point is, if you're going to have to get up and go to the restroom, You want to be back in your couch. That's right. Around 745-ish. Yeah. And here's the good news. Are you wearing the corduroy on that too? I am. I didn't want to have to wardrobe change. I want the American people who are listening today who haven't seen this corduroy. What did you say? I missed that.
The Ramsey Show
Don’t Become a Victim of Your Circumstances
I said I don't want to have to do a wardrobe change, so I thought I'd just wear what I'm wearing. I like that. Well, it's fantastic, Jack. Thank you. It will be fun. By the way, I have a bucket of popcorn.
The Ramsey Show
Don’t Become a Victim of Your Circumstances
Listen, I'm not starting tonight, all right? Tonight's the night I'm not starting. It's not my night. It's going to be awesome. I'll be in the pajama pants.
The Ramsey Show
Don’t Become a Victim of Your Circumstances
And that's because that's the only trucking job available to you?
The Ramsey Show
Don’t Become a Victim of Your Circumstances
So the question then becomes, and again, before we start talking about, you know, you don't have enough money to pay your debt, we've got to figure out how we get more money. And that's why I kind of interrupted here to figure out where we are here. So I understand the anxiety. No shame in that. Don't be embarrassed by that. That's real. But a couple things on that. Number one, that's treatable.
The Ramsey Show
Don’t Become a Victim of Your Circumstances
Okay, but regardless of what you're doing to treat that, I would be looking mentally at I've got to do the hard work. If it's a chemical thing, I'm doing meds. I've got to get to a point where... where I can get back on the road for a season if that's the best money I can make, or I've got to expand my horizons and my thinking to, all right, I can do more.
The Ramsey Show
Don’t Become a Victim of Your Circumstances
that's kind of where i'm going i agree but they may be married so if they're married she's coming with i'd hope so i think within these 10 months let's figure out a plan let's put a ring on yeah i'm expecting i am expecting him to put a ring on her finger and at this point we're moving together and starting to look the life off that way so uh but anyway appreciate the call charles i think you're a good young man and uh appreciate the fact that you want to serve your state yeah and if i ever get pulled over in the oregon area i hope charles
The Ramsey Show
Don’t Become a Victim of Your Circumstances
What jobs do not require me to be over the road for long amounts of time? I'm thinking UPS, driving for one of the beer companies, Coca-Cola. I mean, these jobs have higher pay than $35,000, and they also have a nice path.
The Ramsey Show
Don’t Become a Victim of Your Circumstances
in these large companies so just trying to ideate for you to go man you can't accept whatever happened in the past it's got you here it's going to be a lot longer and a lot harder and george is going to walk you through this the debt snowball but you need more income and soon would you agree yeah okay your hourly rate right now is about 17 bucks an hour second job
The Ramsey Show
Don’t Become a Victim of Your Circumstances
You see that there's potential for her to be doubling her income as well with not a whole lot of effort?
The Ramsey Show
Don’t Become a Victim of Your Circumstances
My man, that's the conversation tonight over dinner.
The Ramsey Show
Don’t Become a Victim of Your Circumstances
And I love that. I love that, Stephen, but that's not a job. And right now you need to get out of debt. You don't have a ton of spare time to be putting towards a lot of volunteerism.
The Ramsey Show
Don’t Become a Victim of Your Circumstances
No, he's preaching. No. All right. Hey, real quick question. Super quick, Stephen. I just heard something. You said one of the reasons you don't want to go back out on over-the-road truck driving is because you want to be there preaching to the old folks, and I love that.
The Ramsey Show
Don’t Become a Victim of Your Circumstances
With the medicine that you're on right now, are you able to drive without the crippling anxiety that got you out of the cab before? Yes or no?
The Ramsey Show
Don’t Become a Victim of Your Circumstances
All right. I'd be working on that. I'd be working on getting to a point where you can manage your anxiety because that's $100,000, man. Quick. They need truck drivers.
The Ramsey Show
Don’t Become a Victim of Your Circumstances
is there. I'm like, no, you were the guy. Don't give me a ticket. Sir, if I need a chance, is your name Charles? Yeah, I like that. Alright, quick break here on the Rangers show. We'll be right back.
The Ramsey Show
Don’t Become a Victim of Your Circumstances
Welcome back to The Ramsey Show. Alongside George Camel, I'm Ken Coleman. Excited that you all are joining us today. 888-825-5225. Let's get back to the phones. Timothy is joining us in Erie, Pennsylvania. Timothy, how can we help? Hi, Ken. Hi, George. How are you guys? We're having a blast today. What's going on with you?
The Ramsey Show
Don’t Become a Victim of Your Circumstances
places and they've given me two different answers i've tried with churchill and there's just a lot going on so some advice yeah you got my guess is you get some uh you get some cooks in the kitchen that are on the family side and friend side weighing in as well as my guess yeah okay what is the urgency to buy a house now at 19 yeah
The Ramsey Show
Don’t Become a Victim of Your Circumstances
That's what I want to make sure is that they can be a part of that. I'm Ken Coleman, by the way, and we're here together for you today. George will lead out on those money calls, and I want to help you on the income side of things, and we'll work together. So let's get to it, George. You ready to go? I'm pumped. All right. Portland, Oregon is where we're going to start. Charles is there.
The Ramsey Show
Don’t Become a Victim of Your Circumstances
Yeah, and Timothy, just full disclosure, my wife and I spent three years in an apartment, one in one city, two in another city before we bought. And it was because of what George said. We were renting until we were able to buy a home.
The Ramsey Show
Don’t Become a Victim of Your Circumstances
But he says he's got a ring fund. How much is in that?
The Ramsey Show
Attack Your Debt Instead of Letting It Attack You
Well, hi, Dave. First time caller. Thanks for taking my call.
The Ramsey Show
Attack Your Debt Instead of Letting It Attack You
So my mom has a reverse mortgage. She is 91 years old. has been in the reverse mortgage for a long time. And so we are concerned as kids what our liability may be in the event when it comes. None. Basically, we have to deal with it. Zero.
The Ramsey Show
Attack Your Debt Instead of Letting It Attack You
There's probably about $40,000 to $50,000 in equity in it right now. Okay. The loan is at about $250,000. Wow, this thing's creeped up.
The Ramsey Show
Attack Your Debt Instead of Letting It Attack You
Well, there's 17 years into the reverse mortgage.
The Ramsey Show
It’s Time to Stop Surviving and Start Taking Control
Absolutely. And here's the thing. If you're a young couple right now and you're listening to this, it's a lot easier to do this when you don't have – I mean, excuse me. You don't have to be so surprised and all this, but it's easier to kind of say when you're first starting out, you don't have a bunch of money to kind of go, this is what we're going to do for each other for gifts this year.
The Ramsey Show
It’s Time to Stop Surviving and Start Taking Control
We're going to spend X amount. I'm making this up, but we're only going to spend $150 for birthdays or whatever. Yeah. you predetermine that and therefore the surprise is within what am I doing with the 150. So maybe that'll help you, Joshua, as you start out. As you start getting more income and a lot more discretionary income, then I think you take the advice that we just gave you.
The Ramsey Show
It’s Time to Stop Surviving and Start Taking Control
But the little surprises would be if you have a category for fun money or whatever. I think back in the old day it was called a blow envelope. You blow the money. Well, that's where instead of spending it on you, playing golf or whatever it is you do, You surprise her with a little something one month and you get the win there. So that's how you do it.
The Ramsey Show
It’s Time to Stop Surviving and Start Taking Control
And I think his biggest question, I think it was an interesting question, is what is the dynamic in the psychology between taking two accounts, in other words, incomes, and putting them together? I thought that was an interesting question. I think a lot of people, I'm glad he brought it up, because a lot of people think through that.
The Ramsey Show
It’s Time to Stop Surviving and Start Taking Control
Follow-up question for you, because you wrote a book called Know Yourself, Know Your Money. It's a bestseller.
The Ramsey Show
It’s Time to Stop Surviving and Start Taking Control
for couples if you had young couples sitting with you and you were doing a quick little all right here's one takeaway on entering into marriage and bringing those money styles yes into the dynamic you've just laid out what is a way to make sure that that transition of coming together maybe is a little smoother uh than if you just try to figure it out what would you say to that you know and i think this is probably in a lot of marriage the first year or two is
The Ramsey Show
It’s Time to Stop Surviving and Start Taking Control
That was a relationship goal. That's Oprah-level stuff you just dropped. I could see Oprah on the couch across from you going... It's a lot of therapy. That's a lot of... I don't care how you got it, you just gave it. And that was good, folks. Rewind that.
The Ramsey Show
It’s Time to Stop Surviving and Start Taking Control
If you're a business owner, pay attention. Or if you know somebody, maybe a family member, a friend, a spouse that's running a business, you know that it is absolutely hard. And some days the challenges are going to pile up. A lot of fear, a lot of doubt. That imposter syndrome can really, really be overwhelming. That's why you need Dave's new book. It's called Build a Business You Love.
The Ramsey Show
It’s Time to Stop Surviving and Start Taking Control
And he's unpacking his story, the plan, all the way from the card table. and he and Sharon's living room to now what is a $250 million business. It's a proven system. Think of it as the baby steps for running a business.
The Ramsey Show
It’s Time to Stop Surviving and Start Taking Control
You can pre-order it now for $29.99, and you're going to get over $350 in free bonus items like the hiring playbook, the e-book, and they've got an enhanced audio book where it's not just Dave reading. I guess they've done all kinds of cool stuff. I don't know if you're going to hear birds chirping. I don't know. I haven't heard it myself, but it is an enhanced audiobook.
The Ramsey Show
It’s Time to Stop Surviving and Start Taking Control
Make of that what you will. You can pre-order today at the $29.99 and get all the free goodies by going to ramseysolutions.com slash store, ramseysolutions.com slash store. If you're watching on YouTube or listening to a podcast, the link is in the show notes. To Salt Lake City we go. Ryan is there. Ryan, how can we help today?
The Ramsey Show
It’s Time to Stop Surviving and Start Taking Control
How much margin do you have out of that $4,300 take-home? How much margin do you have at the end of the month if you haven't had a disaster or something like that? You've stuck to the budget, paid everything. What's that look like?
The Ramsey Show
It’s Time to Stop Surviving and Start Taking Control
You said that you've been throwing everything you can at the debt so far. How much? Just give us maybe a three-month average to the best of your memory or if you know it clearly. What is the amount you've been putting above all of your bills towards the extra? What is that extra amount you've been putting towards debt every month? Mm-hmm.
The Ramsey Show
It’s Time to Stop Surviving and Start Taking Control
In addition, it's my question. I'm not talking your minimums. I'm saying, I thought you had said that you're throwing. I'm trying to get an idea here because I'm going somewhere with this. How much extra beyond your minimums are you putting towards debt every month?
The Ramsey Show
It’s Time to Stop Surviving and Start Taking Control
And how often in the last five, six months have you gotten a big attorney bill?
The Ramsey Show
It’s Time to Stop Surviving and Start Taking Control
And what would you say the average has been? Has it been in that $1,200 range?
The Ramsey Show
It’s Time to Stop Surviving and Start Taking Control
Yeah, okay, so good news, bad news. Bad news is you're still in this fight, and I don't know if that's going to continue, but that is a massive chunk that if you didn't have that legal situation, now I'm going to add that. I'm going to say, let's be modest and say $1,000 plus the $300 in addition you've been putting already. That's $1,300 a month.
The Ramsey Show
It’s Time to Stop Surviving and Start Taking Control
To Rachel's point, I'm trying to encourage you here and then give you something tactical. We can pay $20,000, pay the $5,000 to $6,000 off really quick in medical and the $20,000 in credit card, or excuse me, $16,000 in credit card. We can pay that off really quick. So you asked the question, how do I see the light at the end of the tunnel?
The Ramsey Show
It’s Time to Stop Surviving and Start Taking Control
And I think you've got to just hang in there to go once we get past the custody fight. the light is shining bright because you're going to be able to put $1,300 a month towards, let's call it 21,000 change in debt, correct? Correct. That's going to go pretty quick. Now, what do we do in the interim? My question is, what can you do professionally? What skill set and experience do you have
The Ramsey Show
It’s Time to Stop Surviving and Start Taking Control
that could potentially make you an additional thousand to two thousand dollars a month you may not be able to do it but i want you to at least ask the question and go where could i do this can i make an additional thousand to two thousand dollars a month so that we can make some progress
The Ramsey Show
It’s Time to Stop Surviving and Start Taking Control
So the audience is clapping for her. They're in Nashville. They came here. This was her big birthday thing.
The Ramsey Show
It’s Time to Stop Surviving and Start Taking Control
Millie, thank you for sharing your special day with us. We're so happy to meet you. So I hope you enjoy the rest of the show. I'll try to be on my best behavior now. All right. Let's go to Sean in Miami, Florida. Sean, how can we help?
The Ramsey Show
It’s Time to Stop Surviving and Start Taking Control
Uh-oh. What is making you wonder if this is a mistake? Tell me what's really going on here.
The Ramsey Show
It’s Time to Stop Surviving and Start Taking Control
How long have you been self-employed
The Ramsey Show
It’s Time to Stop Surviving and Start Taking Control
I'm literally saying, I know you quit your $80,000 a year job. How long ago was that? How long have you been on your own without someone else paying? A week. Okay. Well, all right. That helps. That gives you some perspective. Do you have any clients lined up? Do you have any kind of a pipeline? Give me some status. Tell me what we're doing.
The Ramsey Show
It’s Time to Stop Surviving and Start Taking Control
Okay. Is that investment account, it's non-retirement, correct?
The Ramsey Show
It’s Time to Stop Surviving and Start Taking Control
yeah it's just like a through the bank a private perfect okay investment i'm already i gotta tell you i'm already indigestion is gone for you all right the way you started this call i was looking for a roll of tums and that might be a two tums call i was starting to feel it but you got you got your 80 000 and i'm proud of you for this you've got the 80 000 that you walked away from in an investment account you got an additional 40 do you have any debt
The Ramsey Show
It’s Time to Stop Surviving and Start Taking Control
All right, now tell me about the revenue. I understand we've got 80 put away, which is great.
The Ramsey Show
It’s Time to Stop Surviving and Start Taking Control
Do you have clients signed up that have already said, Eddie, I mean, excuse me, Sean, we're staying with you.
The Ramsey Show
It’s Time to Stop Surviving and Start Taking Control
Wow. I feel like you watched The Wolf of Wall Street and just decided to try to do your own version here. This is crazy.
The Ramsey Show
It’s Time to Stop Surviving and Start Taking Control
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The Ramsey Show
It’s Time to Stop Surviving and Start Taking Control
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The Ramsey Show
It’s Time to Stop Surviving and Start Taking Control
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The Ramsey Show
It’s Time to Stop Surviving and Start Taking Control
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The Ramsey Show
It’s Time to Stop Surviving and Start Taking Control
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The Ramsey Show
It’s Time to Stop Surviving and Start Taking Control
But I don't think it's going to get demonstrably worse. I mean, we're talking cartoonish levels right now. 125% tariff? Let's just be honest. Trump is negotiating, and who knows if it's going to work. But this is absurd. So I would sit on the sideline because you can't. I think that's absolutely the play. And I wish I could say more.
The Ramsey Show
It’s Time to Stop Surviving and Start Taking Control
At which point you go, all right, I'm going to eat the 53.
The Ramsey Show
It’s Time to Stop Surviving and Start Taking Control
Well, but if your renting is based on the job, do you price in the renting to the job? Oh, yeah. I mean, yeah, yeah. I'm working it out. So then my point is, is that as long as you can do that, to Rachel's point, I would not pay this tax. But you got to understand something, David. You got to take what I'm saying about a bag of salt, because I hate taxes.
The Ramsey Show
It’s Time to Stop Surviving and Start Taking Control
Like, the only thing I hate more than taxes is Satan. Right. I mean, that's the honest to God truth. So taxes come from hell, and so they're related. That's my take on it. And so I would sit tight, and I'm really sorry this is happening. I'm really sorry, but I'm glad you called. And I'm also glad, by the way.
The Ramsey Show
It’s Time to Stop Surviving and Start Taking Control
Of course, that makes total sense because you've got such a good deal on that. How much money are you making right now? What's your bring home every month?
The Ramsey Show
It’s Time to Stop Surviving and Start Taking Control
Because you cannot control what a president does or what a premier of another country does. And you're stuck in the crossfire here. Right.
The Ramsey Show
It’s Time to Stop Surviving and Start Taking Control
I was just on Fox Business about this.
The Ramsey Show
It’s Time to Stop Surviving and Start Taking Control
And I said this was what I was worried about. And for our audience, I want to be very clear. This is not a political statement. This is not a Republican statement.
The Ramsey Show
It’s Time to Stop Surviving and Start Taking Control
But what I'm going to say is, is that I personally, I'm speaking personally, not on behalf of the Ramsey Show, but I'm speaking from an economic standpoint. As a conservative, I am not for taxes ever. It's the last resort. Do I think taxes are necessary to fund a government? Yes, of course.
The Ramsey Show
It’s Time to Stop Surviving and Start Taking Control
But what I said in New York on that show, and I'll say it right now, this is why I'm not in favor of a trade war. When you go to war with commerce, Rachel, the very act of war means one side has to lose. And I know we've got very opinionated people saying China's done this for a long time. I'm not disagreeing with any of that. What I'm saying is forget the reason why Trump's doing it.
The Ramsey Show
It’s Time to Stop Surviving and Start Taking Control
I'm not debating it. I'm saying the outcome is pain. And hopefully gets better. You hope that this goes away and that Trump gets to zero, zero. Everybody wants that, by the way. I don't care what side of the aisle you're on. Sure, sure. But I am concerned about the impact on small business. And so what I would say is, I said all that to say this, if you're a small business owner like a David,
The Ramsey Show
It’s Time to Stop Surviving and Start Taking Control
Now is a great reminder that you cannot control geopolitics. What you can control is socking money away and don't get in debt because David is actually able to weather what could be a really ugly storm because of that. That's my whole point. So I hope all of you didn't get your feathers ruffled.
The Ramsey Show
It’s Time to Stop Surviving and Start Taking Control
The point I'm making is you got to be able to withstand economic ups and downs that sometimes are policy driven. So hopefully this all gets settled pretty soon. But make no mistake, folks, the deal with China, it affects more small businesses than any other country. So hopefully it works out. Crossing my fingers.
The Ramsey Show
It’s Time to Stop Surviving and Start Taking Control
I mean, you are really with all these opinions.
The Ramsey Show
It’s Time to Stop Surviving and Start Taking Control
Well, you know, some days we have a fabulous audience. Most days for the show, we have a fabulous audience that comes to the lobby here at Ramsey Solutions, and we can see these fine people looking through the glass. We go out and say hi and all that kind of stuff, and today happens to be a birthday day.
The Ramsey Show
It’s Time to Stop Surviving and Start Taking Control
We've had two birthdays, and so we had young Millie, who's 28, and now we just met the fabulous Carol. who just turned 80 a couple days ago, and she's got the team out there. And notice the glasses. She's got a sash. What do you call that? A sash?
The Ramsey Show
It’s Time to Stop Surviving and Start Taking Control
And she's got these fabulous glasses, James. She's hating this right now, I think. By the way, Carol looked as though she was in shock, James. She's very embarrassed by all the attention. And so one of the party that she's with loaned me their glasses. So I wanted to say a special happy birthday to you, Carol. You look fabulous. You don't look a day over 50.
The Ramsey Show
It’s Time to Stop Surviving and Start Taking Control
And we're very blessed that you're here.
The Ramsey Show
It’s Time to Stop Surviving and Start Taking Control
Actually, I'm going to ask James if I can take the rest of the show off.
The Ramsey Show
It’s Time to Stop Surviving and Start Taking Control
How about that? Very fun stuff. So happy birthday again. So fun. So fun when people spend their special day with us.
The Ramsey Show
It’s Time to Stop Surviving and Start Taking Control
What are y'all doing here? The Ramsey Show question of the day is brought to you by Y-Refi. Y-Refi offers a different approach to paying off your defaulted private student loans with a low fixed rate for less stress. Go to Y-Refi.com slash Ramsey. That's the letter Y-R-E-F-Y dot com slash Ramsey. It may not be available in all states.
The Ramsey Show
It’s Time to Stop Surviving and Start Taking Control
Yeah. But you got to do it. Yeah. And that's what I was going to say. Like, so this is a relationship issue. But in this situation, it's not you coming to the to the table with a hey, let me tell you about these baby steps. Let me tell you about this Ramsey plan. I'd like to get us on a budget like this is the federal government. This is the law. Yeah, there's a wiggle room here.
The Ramsey Show
It’s Time to Stop Surviving and Start Taking Control
So it seems like it needs to be a reality check. This isn't trying to get her on board. Right. This is like, we will go to jail.
The Ramsey Show
It’s Time to Stop Surviving and Start Taking Control
And I don't think I look good in orange, sweetheart. You know, or whatever you got to say here. This comes back to a relationship thing, but I hate to make it so simplistic. I want you to weigh in, but I think it is, hey, this is super serious. This isn't my opinion. We have to do this. Let's make this a lot less difficult by let's get all our stuff together and be on the same page.
The Ramsey Show
It’s Time to Stop Surviving and Start Taking Control
2350 then you got utilities water camera you didn't answer her question we're trying to help you and this is the part where we're now going to try to help you dig out and you can do this but how are you making it month to month do you have any left over at all oh no i'm actually and you're going into credit card debt still
The Ramsey Show
It’s Time to Stop Surviving and Start Taking Control
It's a really tough situation. Thanks for sharing the question with us. Knoxville, Tennessee, the home of Rachel's alma mater. Sam is there. Sam, how can we help?
The Ramsey Show
It’s Time to Stop Surviving and Start Taking Control
That's where I came down? Yeah, that's a different question. So that's where I came down. I agree with everything Rachel said. I'm going to come down on this one and go, I'm the kind of guy, this is the way I'm wired, where... I'm not going to keep dealing with this truck.
The Ramsey Show
It’s Time to Stop Surviving and Start Taking Control
I'm going to go, this thing's a lemon, or it's an issue with the manufacturer, and they just don't do a good job making the parts, and I'm just tired of this mess. For me, because in your situation, I would be in the same boat. Any mechanical work I got to do, I'm not stressed out about it. I got the money set aside, whatever, whatever, whatever. But it's like, it's time. Time is money.
The Ramsey Show
It’s Time to Stop Surviving and Start Taking Control
You remember that old phrase? It's kind of true. Is it 2001, Sam?
The Ramsey Show
It’s Time to Stop Surviving and Start Taking Control
All right, so can we just do real quick, I want to know if we have any equity in any of these vehicles.
The Ramsey Show
It’s Time to Stop Surviving and Start Taking Control
I couldn't spell hybrid in 20,000.
The Ramsey Show
It’s Time to Stop Surviving and Start Taking Control
I'd get rid of it. I'd sell it. I'd sell it. Okay. And that's somebody else's problem. And I'd go get myself a truck that had a much higher rating that I'm not in the shop all the time. And again, it's just the nick, these are like little paper cuts. It feels like what a nuisance, man. I'd be like, why would I buy your warranty? How about you make a better truck?
The Ramsey Show
It’s Time to Stop Surviving and Start Taking Control
That's what I'd have said to the dealer, but I can be sassy that way. But I feel like that's true. I got an idea. Why don't you make a better truck? I don't need all this warranty because all the stuff seems like it's little piddly stuff. So you got the cash. I'd get rid of the nuisance. Let it be somebody else's problem.
The Ramsey Show
It’s Time to Stop Surviving and Start Taking Control
All right, folks, when we talk about money and relationships, it just brings up all kinds of emotions for people because that's where so many relationships can go bad. I mean, we take calls all the time on the show where it poses as a money question, but it's really now become a relationship issue. Money fights are the leading cause of divorce. Kids go into debt for a job. We're isolated.
The Ramsey Show
It’s Time to Stop Surviving and Start Taking Control
Don't feel like we can live the life we want to live because we're so strapped. but it's possible to break that cycle in your money and in your relationships. That's why Dave Ramsey and Dr. John Deloney are headed out on the Money and Relationships Tour. They're going to be handling all of those issues and taking some really fun questions, things from the audience that they vote on.
The Ramsey Show
It’s Time to Stop Surviving and Start Taking Control
It's going to be a very different format, and they're coming to a city near you. Louisville, April 21. Durham, April 23. Atlanta, April 25. Phoenix, May 5. Fort Worth, May 7. And Kansas City on May 9th. You can get your tickets online. to join them live at ramseysolutions.com slash tour. That's ramseysolutions.com slash tour.
The Ramsey Show
It’s Time to Stop Surviving and Start Taking Control
If you're listening via podcast or watching on YouTube, click the link in the show notes to get your money and relationship tour event ticket with Dave Ramsey and Dr. John Deloney. Back to the phones we go. Bozeman, Montana is where Bear waits for us. I got to tell you, Bear, I wish my name was Bear. Bear Coleman, I think I'd be a much bigger deal. I'm doing well. How are you?
The Ramsey Show
It’s Time to Stop Surviving and Start Taking Control
Oh, still up right and breathing, so I'm quite happy. Say that again? I'm still up right and breathing, so I'm quite happy. I love you, Bear. I hope that doesn't make you uncomfortable. Is that your given name or a nickname?
The Ramsey Show
It’s Time to Stop Surviving and Start Taking Control
I'm going to pick a name, my anonymous name. That's going to be great. We'll reveal that at the end here. This is going to be great. But Bear, first and foremost, how can we help you?
The Ramsey Show
It’s Time to Stop Surviving and Start Taking Control
This is The Ramsey Show, where America hangs out to have a conversation about your money, your profession, and your relationships. The phone number is 888-825-5225. 888-825-5225. My co-host, my dear friend Rachel Cruz, is alongside. She'll lead out on how to save, how to spend that money, and I'm going to help you on how to make more money. It's a great combo. We'd love to hear from you.
The Ramsey Show
It’s Time to Stop Surviving and Start Taking Control
Why would you be in trouble? What could go wrong by taking this new job?
The Ramsey Show
It’s Time to Stop Surviving and Start Taking Control
If, if the job goes wrong, is there, is there in your mind, is there a high percentage chance, medium percentage chance or low percentage chance that the job could go wrong? Um, Probably low. What's the job? Hello? I think the bear has stepped in a trap. That's unfortunate. We're going to put him on hold. Oh, shoot. If we can get bear back, I think he stepped in a phone trap. He's gone.
The Ramsey Show
It’s Time to Stop Surviving and Start Taking Control
He was there, and now he's not. That's really unfortunate. Let's go to Tyler in Des Moines, Iowa. Tyler, how can we help?
The Ramsey Show
It’s Time to Stop Surviving and Start Taking Control
Sorry, what's it worth? I'm so confused right now.
The Ramsey Show
It’s Time to Stop Surviving and Start Taking Control
Okay. Thank you. I appreciate it.
The Ramsey Show
It’s Time to Stop Surviving and Start Taking Control
Yeah. Thank you so much. Do we have time? Do we think we have Bear? We're going to go back to Bear. We'll see if we can do this really quick. Let's see. Where is Bear? There he is. Line four. Bear, we got you back. We only got about a minute. Here's where we left off. What would have to happen for your new job offer to truly go bad?
The Ramsey Show
It’s Time to Stop Surviving and Start Taking Control
What would you have to do or what would have to be a circumstance that would cause that job to just kind of go away?
The Ramsey Show
It’s Time to Stop Surviving and Start Taking Control
Could you pop back into that work if it didn't work out, this new job? I could. And how much more will a new job pay? I've got just a little bit of time, so I'm asking quick questions. How much more would this new job pay you than you're making now?
The Ramsey Show
It’s Time to Stop Surviving and Start Taking Control
So it's low risk. Do you want to do it or do you not want to do it? What's your heart want to do? Um... Got to give me an answer. I'd like to go for the higher pay, but I would. I'm for it. I think it's low risk. I'd like to see you try it, Bear. We know we can fall back on a very well-paying job with a highly sought-after skill. I like it. No risk there. Little risk. So go for it.
The Ramsey Show
It’s Time to Stop Surviving and Start Taking Control
That's exactly right. All right, real quick, what's your anonymous name? I got mine.
The Ramsey Show
It’s Time to Stop Surviving and Start Taking Control
I thought about animals, Kamado, koala, kangaroo. None of that worked.
The Ramsey Show
It’s Time to Stop Surviving and Start Taking Control
Lillian, huh? That's the anonymous name?
The Ramsey Show
It’s Time to Stop Surviving and Start Taking Control
It's just a little extra there. It's a little something.
The Ramsey Show
It’s Time to Stop Surviving and Start Taking Control
Let's go to Debra in Santa Barbara. Debra, how can we help today?
The Ramsey Show
It’s Time to Stop Surviving and Start Taking Control
Oh, no. You sound like you're in the corner. You remember when we were kids, your parents sent you to the corner? You sound like you might be in the corner, Debra. Let's go. No shame in your game. What's going on? Yeah.
The Ramsey Show
It’s Time to Stop Surviving and Start Taking Control
This is an immediate turnaround, Debra, and it makes the most sense.
The Ramsey Show
It’s Time to Stop Surviving and Start Taking Control
Well, there's nothing to figure out. I mean, I want you to understand that you have one clear option here, and it's the option we just gave you. And this is going to get you out of this desperate situation, this wacky situation, quite frankly. It's not desperate. It's just wacky. And set you up for the future.
The Ramsey Show
It’s Time to Stop Surviving and Start Taking Control
Now, you're right, but you at least got a $200,000 head start and you're going to have to work and you're going to sock away as much money as possible. We'd love to see you get a Smart Investor Pro if you do not have one. And let's map out what we need to do over the next five to seven to eight to maybe 10 years to make sure that you have more margin as you age.
The Ramsey Show
It’s Time to Stop Surviving and Start Taking Control
But at least you got to pay for a home that is also a tremendous asset for you as well.
The Ramsey Show
It’s Time to Stop Surviving and Start Taking Control
That's not your problem. I know that sounds heartless. It shouldn't, but I feel like it does. But that's not your problem. Those are grown men. They need to step up and take care of business.
The Ramsey Show
It’s Time to Stop Surviving and Start Taking Control
Well, but that's the answer to your question.
The Ramsey Show
It’s Time to Stop Surviving and Start Taking Control
But you just answered your own question, by the way, more effectively than I did. Your little speech you just gave is the speech you need to remind yourself when you say, what about my grandkids? I don't want to be this big, mean grandmother that kicks them out on the street. That's not what you're doing, number one. But number two, you need to remind yourself of that speech you just gave.
The Ramsey Show
It’s Time to Stop Surviving and Start Taking Control
This guy's literally the character in Wedding Crashers. Ma, meatloaf! I mean, he yells and you come running, you know? Might as well give him a little silver bell. Yeah.
The Ramsey Show
It’s Time to Stop Surviving and Start Taking Control
I'm telling you, I wish I could have a chat with this guy. I really do. This is embarrassing. He ought to be embarrassed how he's treating his mother. Now, I understand I'm talking about your baby. I get that. But you called and you're looking for advice and your heart is literally getting you in trouble.
The Ramsey Show
It’s Time to Stop Surviving and Start Taking Control
So here's the deal. Is the RV, can you sell more, make more on that than the 26 you owe? No.
The Ramsey Show
It’s Time to Stop Surviving and Start Taking Control
You sell the girlfriend's car, too. Because I don't care how lovely she is. She gets her own car. It's not your problem.
The Ramsey Show
It’s Time to Stop Surviving and Start Taking Control
Tampa, Florida is where we're going to go next. Joshua is there. Joshua, how can we help? Hey, good afternoon. Thanks for taking my call. Sure.
The Ramsey Show
It’s Time to Stop Surviving and Start Taking Control
Antonio starts us off in Jacksonville. Antonio, how can we help today?
The Ramsey Show
It’s Time to Stop Surviving and Start Taking Control
I got you. I got you, man. First of all, thank you, Joshua, for representing that romance. He's not dead. You're a good man. Chivalry is still there. It's a good man, Rachel, that we're talking to. So here's how I do it.
The Ramsey Show
It’s Time to Stop Surviving and Start Taking Control
And I'm sure Rachel's got an opinion because I actually was sitting exactly where I am right now when your hubs, Winston, pulled off an amazing surprise for you in the form of a phone call. You remember that?
The Ramsey Show
It’s Time to Stop Surviving and Start Taking Control
Surprises are great. They're always a great fun. And I'm sure that he has surprised you before. So here's how we do it. So when I know that I'm planning to do that and it's a large expenditure, So I've planned for it, right? And then I will tell her, hey, listen, I'm working on a little something down the line and I'll let you know when I need you to just look the other way.
The Ramsey Show
It’s Time to Stop Surviving and Start Taking Control
And I give her about a 24 to 48 hour notice so that she's not going to go in the account to do any kind of maintenance or whatever. And it's pretty simple. And so then she does the old, oh, you shouldn't do that, that kind of deal. Of course, she loves it. And so when it's a large expenditure, that's how I handle it. If it's smaller, same kind of deal.
The Ramsey Show
It’s Time to Stop Surviving and Start Taking Control
I might just say, hey, I'm pulling it from here or whatever. But you can do that, and it's just communication. What would you add to that?
The Ramsey Show
It’s Time to Stop Surviving and Start Taking Control
Ah, now she has never done it. That's a great point.
The Ramsey Show
It’s Time to Stop Surviving and Start Taking Control
Josh, I'll give you one more. The other thing is you pull the surprise off in a way that you tell her, hey, surprise, we're about ready to go do this. And so she's surprised that you're doing it. In other words, I'm not going to say the brand, but I did that once with Stacey. We went shopping on purpose. She didn't know. And we walked by one of her favorite stores, very expensive bags.
The Ramsey Show
It’s Time to Stop Surviving and Start Taking Control
And I said, hey, let's go in here for a second. And she's like, oh, no, that's right. I said, let's just do it.
The Ramsey Show
It’s Time to Stop Surviving and Start Taking Control
So we go in and I had already planned. And then I said, by the way, pick out pick out something.
The Ramsey Show
It’s Time to Stop Surviving and Start Taking Control
yes and that was so she's part of it there's no moving funds so i think we gave you several options there that uh i that was a new one yeah uh the one where you have the friend by it you gotta have a good friend though but you know but they know you got the cash yeah yeah yeah i swear yeah yeah but then would it still be considered i mean this is i'm still relatively new to having one checking account but would it still be considered
The Ramsey Show
It’s Time to Stop Surviving and Start Taking Control
That's what I'm trying to understand. If it's our money, it doesn't mean that you have to divide it up into, well, this is how much I make so I can only buy you a gift out of what I make.
The Ramsey Show
It’s Time to Stop Surviving and Start Taking Control
By the way, no wife is going to be upset about that. Do you know what I mean? So you're going to be great.
The Ramsey Show
The Road to Financial Freedom Is Paved With Grit
I think you need to identify today that the same thing that's not allowing you to go spend some of that cash and live some of your life and enjoy the fruits of being disciplined –
The Ramsey Show
The Road to Financial Freedom Is Paved With Grit
um is the same thing that's making you question should i add more to my portfolio do exactly what rachel said when you can upgrade in cash right to better investment properties do that but don't have this burning in your soul that i've got to do more to break some generational poverty or whatever you've come from and i sense that that's probably true with you am i right
The Ramsey Show
The Road to Financial Freedom Is Paved With Grit
Okay. So Rachel's already giving you great advice. I say amen to what Rachel said. I'd add one other little thing. I want you to enjoy some of your money for a bit. Stop thinking about adding your portfolio right now. And why don't we just take a really great vacation?
The Ramsey Show
The Road to Financial Freedom Is Paved With Grit
Why don't we bless some people in your community with some nice, generous financial gift that's easy for you, but you begin to see the value of what you've done and allow you to soak in that
The Ramsey Show
The Road to Financial Freedom Is Paved With Grit
I couldn't be more excited that we have a couple on with us.
The Ramsey Show
The Road to Financial Freedom Is Paved With Grit
So what's the alternative if you don't move out of the brother's house?
The Ramsey Show
The Road to Financial Freedom Is Paved With Grit
Yeah, it's a disaster. You know you want to get out of there. You know you should get out of there, right? Yeah. Yeah. So is there not a better rent option?
The Ramsey Show
The Road to Financial Freedom Is Paved With Grit
Okay, I know that area somewhat. Where are you now? What area are you in?
The Ramsey Show
The Road to Financial Freedom Is Paved With Grit
Yeah, so give us, run the numbers for Rachel here. What do your income is versus what this new rent would be?
The Ramsey Show
The Road to Financial Freedom Is Paved With Grit
And she's the breadwinner, I hate to say, in this situation. A hundred percent she is. Which I really don't like. A boyfriend needs to get his act together.
The Ramsey Show
The Road to Financial Freedom Is Paved With Grit
Okay, when you said disclosure, I figured there was something. Yeah, we don't want to dig anymore. Okay, yeah.
The Ramsey Show
The Road to Financial Freedom Is Paved With Grit
Yeah. And just to follow up, Rose, is it fair to say that when you're going through whatever you're going through now, is it possible that this process leads one or both of you to the point where you guys go, we're not going to stay together or we're not going to get married?
The Ramsey Show
The Road to Financial Freedom Is Paved With Grit
I didn't understand that. Okay, so at this point, I'm never a fan of anybody shacking up together, but I'm old school. No judgment, by the way, when I say that. No judgment. That's just my personal opinion. I'm not judging anybody. Now, with that said, then he needs to be truly paying 50-50 on the rent, and you – I'm just clarifying something that Rachel said.
The Ramsey Show
The Road to Financial Freedom Is Paved With Grit
You're not taking any of your income to help out with the niece or anything else, not until you guys are a legal couple. You pay for you. That means you pay your half of the rent. You pay your half of the utilities. You pay your – and then everything else is separate until – We get legally married. I want to make sure you catch that. And that keeps things really nice and clean. Okay.
The Ramsey Show
The Road to Financial Freedom Is Paved With Grit
Which means he may need to delay college for a little bit.
The Ramsey Show
The Road to Financial Freedom Is Paved With Grit
Today's question comes from Carissa in Oklahoma. I'm 25. My husband is 37. I have been the main breadwinner since we got married because I wanted my husband to focus on his writing career. I recently had our second child and would like to stay home to raise the babies. The problem is I can't convince my husband that we can make it on one income.
The Ramsey Show
The Road to Financial Freedom Is Paved With Grit
He has not consistently held a job for the last three years due to company layoffs. I'll address that in a minute. I make about $30,000 a year. My husband, when he's working, by the way, that's in parentheses, makes about $30,000 as well. Our rent is $800 a month, and besides our normal bills, we have a car payment of $300 a month. We also owe $3,700 in medical bills.
The Ramsey Show
The Road to Financial Freedom Is Paved With Grit
We budget and don't live outside our means. It would probably be a big financial change to only have one income, but I feel like my most important job is to take care of my children. Is my desire to be a stay-at-home mom unrealistic in this economy?
The Ramsey Show
The Road to Financial Freedom Is Paved With Grit
Yeah. In your husband's reality where he can't seem to hold down a job.
The Ramsey Show
The Road to Financial Freedom Is Paved With Grit
All right, let me remind you. These are her words. He has not consistently held a job for the last three years due to company layoffs. False. If I had a buzzer sound, I would hit the buzzer. It should be worded, he has not consistently held a job for the last three years due to his lack of effort.
The Ramsey Show
The Road to Financial Freedom Is Paved With Grit
Now, what I'm not disputing is that the guy's been laid off, maybe multiple times over a three-year period. But when someone is not consistently holding a job down for anything longer than six months, it's an effort issue. And that's going to cause a little stir with some people. Let me explain. In the American economy as of today, one can go work.
The Ramsey Show
The Road to Financial Freedom Is Paved With Grit
It may not be the career that you got educated in or that you want to be in, but I can promise you that if I'm shown the door later today after the show, which the jury's still out, I'm not going to be without work for three years, no matter what happens. I am going to work somewhere and I will make 20, 22, 25 an hour at a bare minimum.
The Ramsey Show
The Road to Financial Freedom Is Paved With Grit
Not because I'm great or I'm special or uniquely talented because I have a pulse. Am I making a clear point? And so there's zero reason for him to go 36 months. And I'm putting it that way on purpose, without consistent income. You know, and I have a heart for this. It's what I've been doing the last seven years at Ramsey Solutions on the Ken Coleman Show.
The Ramsey Show
The Road to Financial Freedom Is Paved With Grit
It's coaching people who aren't where they want to be professionally. But there is no excuse for a man that has a wife and a child to go three years without consistent income. Three years with industry volatility? Sure, that's happened. So I want to make sure that the critics are really hearing what I'm saying.
The Ramsey Show
The Road to Financial Freedom Is Paved With Grit
I'm not saying he hasn't gone through layoffs in maybe his industry, but you can go do something. And we're talking about $30,000 a year is what she's making. Right, right, right.
The Ramsey Show
The Road to Financial Freedom Is Paved With Grit
I've got to get my calculator out here. I'll give it to you. But I believe that $20 to $25 an hour range gets you there. It does. It's well over that. Let's just go $20 an hour times 40 hours a week. For those of you, it's $800. It says $3,200 a month. So that does it. Don't tell me that in America today that you can't go get a $20 an hour job. Or a $15 an hour job and then a $16 an hour job.
The Ramsey Show
The Road to Financial Freedom Is Paved With Grit
My point is I'm going to take care of my wife and I'm going to take care of my baby. That's what I think.
The Ramsey Show
The Road to Financial Freedom Is Paved With Grit
You know what the bro needs? He needs some grit.
The Ramsey Show
The Road to Financial Freedom Is Paved With Grit
Good old fashioned grit. Hey, dude, I know it's the landscape. I know it sucks.
The Ramsey Show
The Road to Financial Freedom Is Paved With Grit
That's what I would get some grit, man. I wish I could. I wish I had a big fake. What do you call those things? I'm blanking out. You give people a shot. What do you call it?
The Ramsey Show
The Road to Financial Freedom Is Paved With Grit
Thank you. I need a big, giant, fake syringe, James. And it's filled with grit. I'll get right on that. Thank you. And I just bring it out on calls like this. I know this is horrible and they're making fun of me, but it's making the point. And I just hold it up. I go, you need a shot of this, my man. Help this woman out so that she can go home and take care of her babies.
The Ramsey Show
The Road to Financial Freedom Is Paved With Grit
Because we've talked about this before on this show.
The Ramsey Show
The Road to Financial Freedom Is Paved With Grit
Being a stay-at-home mom is the highest honor and the greatest job on the planet. Period. That's what I think.
The Ramsey Show
The Road to Financial Freedom Is Paved With Grit
Right. And by the way, that's not... That's right. Seriously, it is...
The Ramsey Show
The Road to Financial Freedom Is Paved With Grit
That I knock professional women. No, no. Listen, my wife. You got to hear both sides. My wife, different seasons, was working outside of the home. Yep. One of my dearest friends on the planet, my little sis right here, she does it. I'm not knocking. I'm just saying we got to get to a point where there's no shame for stay-at-home moms.
The Ramsey Show
The Road to Financial Freedom Is Paved With Grit
That's a great point. I know that you and I could speak to this, but there are many times in our two marriages where each one of our spouses has made sacrifices for us.
The Ramsey Show
The Road to Financial Freedom Is Paved With Grit
Multiple. We could go down a list. And I think it's really important what you said that, you know, there are times where one of the spouse has got to make some massive sacrifices for the other spouse, knowing that your season is coming. And it's just part of the deal. I believe that both can have what they want. They may not get it at the same time.
The Ramsey Show
The Road to Financial Freedom Is Paved With Grit
And I want to say this too. We're talking about, in this case, $30,000. We're talking about, I'm giving this guy a hard time with my fake grit syringe and all the stuff I'm saying, but he could get to the point pretty quickly where she could come home.
The Ramsey Show
The Road to Financial Freedom Is Paved With Grit
They got a car payment. That's a big chunk.
The Ramsey Show
The Road to Financial Freedom Is Paved With Grit
James has already got one. He's Googled it. It's going to be ordered. It's going to be great. It's going to be a great prop. America's going to love it.
The Ramsey Show
The Road to Financial Freedom Is Paved With Grit
Let me jump in for a second. So how much are you planning to give each child, the same amount or different amounts?
The Ramsey Show
The Road to Financial Freedom Is Paved With Grit
So let me ask a question to you. What would keep you from paying the big chunk of it today? What's keeping you guys from doing that?
The Ramsey Show
The Road to Financial Freedom Is Paved With Grit
Let me tell you why. And I love that answer, and I believe you. I think that's an honest answer. The challenge is the humanness in all of us. And so what happens or what could happen? Let me put it this way. What could happen? Rachel, at any point, tell me if you think this is off.
The Ramsey Show
The Road to Financial Freedom Is Paved With Grit
Oh, I know. Like I even had to say that. But you got that money in the bank and it sits there. And the whole goal, it's earnest, it's honest, it's well-intentioned. We're going to wait until we get the whole chunk of $39,000 and then we're going to pay it off. It's going to be woohoo and great fun. Okay. But you sit that money in the bank and you keep looking at that.
The Ramsey Show
The Road to Financial Freedom Is Paved With Grit
You wake up every day and you wake up differently when you get a big chunk of change that goes in the account. You just do. You wake up. I do. Yeah, it feels great. And I go, I wake up and I go, holy God, X amount of dollars in the bank. And what happens is you get real comfortable with that money sitting in that account. And then you don't want to actually have that money leave.
The Ramsey Show
The Road to Financial Freedom Is Paved With Grit
I remember the first time we got a fully funded emergency fund years and years ago when we first started this process long before I worked for Dave.
The Ramsey Show
The Road to Financial Freedom Is Paved With Grit
an emergency would come up and i was coming up with ways not to use it to not use it yes totally like we have a three i'm making this up three thousand dollar emergency and i'm selling stuff breaking my back stressing out and see if we go we have the money and i go I know, but I don't want to pull it out of the account.
The Ramsey Show
The Road to Financial Freedom Is Paved With Grit
And so just being, I think, honest, the human condition is to hold on to that. And then life comes up and an opportunity comes up to do something. You go, ooh, we could pay off the student loan debt, Rachel, or we could go on this trip. And I think that's why we always say, act now. That's right. Get the win today. And I mean today.
The Ramsey Show
The Road to Financial Freedom Is Paved With Grit
That's why you have me. I'm always your pronunciation guy. Gosh, the phonics. That's why I'm here.
The Ramsey Show
The Road to Financial Freedom Is Paved With Grit
I love that you're coming with a book recommendation.
The Ramsey Show
The Road to Financial Freedom Is Paved With Grit
Well, hold on a second. I'm still confused, and we have only about a minute here. Is the amount that was given to you, is how much?
The Ramsey Show
The Road to Financial Freedom Is Paved With Grit
Okay, where do you keep coming up with this $10,000 number?
The Ramsey Show
The Road to Financial Freedom Is Paved With Grit
Have you heard of this? I know this book and it's on my list to read.
The Ramsey Show
The Road to Financial Freedom Is Paved With Grit
Why don't you sit down with your siblings and have an honest conversation and go, guys, I had nothing to do with this, and that's why I wanted to have the conversation. What do you all prefer we do? What do you all think is fair, if that's what you want to do? Now, you've got two directions.
The Ramsey Show
The Road to Financial Freedom Is Paved With Grit
You can either say, I'm going to honor Dad's will, and I'm going to deal with the fallout, or I don't want to deal with the fallout. I love my siblings. Let's get in a room and solve it.
The Ramsey Show
The Road to Financial Freedom Is Paved With Grit
And millionaires. Millionaires, too.
The Ramsey Show
The Road to Financial Freedom Is Paved With Grit
And really, a different form of consolidation, the best consolidation is the baby steps and the snowball. Really, the debt snowball, it's like you're consolidating your money towards that debt. That's where the greatest momentum is. It's not through one of these consolidation programs. It's like, all right, I'm going to consolidate my own payments and really work that debt snowball.
The Ramsey Show
The Road to Financial Freedom Is Paved With Grit
That is absolutely the number one psychological and financial way to pay off debt, period. It just works.
The Ramsey Show
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So it's just kind of like go ahead and use it. So if that's the case, and you're not necessarily saying they do that here.
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What world is he in right now? You said he's got a full-time job and a part-time job?
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Okay, and is the part-time job just to help pay these bills?
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Valerie and Bill, to my knowledge, you two, you all speak up here. You don't have already a set amount that you were going to give outside of this conversation of give them all 10 grand out of this inheritance. But Bill, if I'm hearing you right, you're going, we don't know what chunk it'll be, but whatever we have left when we die. That's what they get.
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There's not a certain amount of money that you would be in favor of giving them now, this idea that Rachel put out there. Would the two of you go, all right, if we gave them a larger chunk now, would you be okay with that?
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Okay, so was he on board all this time? Like, he's been with you?
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Okay, so if I heard you right. He got up this morning at 3 a.m. today and told you, hey, I'm heading out. And you say, I mean, please don't.
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He doesn't discuss this at all. He just literally says, matter of fact, I'm going across the country to get a Raptor like Dave Ramsey.
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So, okay, you've got to give us a little bit more here. I'm sorry. I'm going to dig a little bit, Rachel.
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okay that's fine all right so this conversation he's been on board and paying off the house and the debt and the baby steps but how long has the i'm going to go into debt for a raptor how long has that conversation been going on and when was the last time it was had before 3 a.m this morning right so maybe for the past two months he's like i'm just going to do it i don't care what it takes um and you say i just
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So while today was the day, he'd been kind of tipping his hand that he was going to go do this, and I'm going to go get a loan. How big is the loan?
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And how much is left on the house again? Five?
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I mean, Rachel and I commiserate with you. We're here to listen, here to encourage you. But I can tell you right now, this is a marriage therapy session or two or three or six.
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Yeah, you know what I think? I think this guy has been on board, and he was like, okay, this all makes a lot of sense. But what also makes sense is after we do all this, we can handle the truck payment, and I'm going to go do it. He's been telegraphing this for months.
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All right. But that's contingent on you guys stewarding it as you would, and it grows over time. So I appreciate the book idea, but I feel like that's only applicable to people who have a large chunk of money now.
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Yeah. I don't think this is a crisis. based on what I'm hearing. But I do think this is a marital... No, listen, I'm trying to validate your feelings. Everything you're feeling, I completely understand. And I completely understand why you're feeling that. I think you should feel that. But I don't think that... And I'm saying this philosophically.
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There's only so much Rachel I can do today other than say, man, we feel you. I don't think that's right. I don't think it's a good marriage move. Should have talked it through.
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should have come up with an alternative plan he knows how much this means to you um but then i will also say the reason that why i believe you guys need to sit with a marriage therapist is because i can also see i don't agree with his action at all but i think i'm seeing a window into this this dude and i think he thinks it's justified and i here's what i would say not knowing him at all and if i met him for the first time i said hey uh
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Jana just called me on the show and she told me what happened. Hey, listen, bro. I don't think you think that's as big a deal as it is. It's a big deal.
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I think so. And I think because he's justified.
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He's crunched numbers. We're paid off the house. We have no debt. Pfft.
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In his mind, and I'm not defending him, but I am trying to make maybe, Jana, you feel a little bit better. I think this is a situation where he is completely unaware of how he is truly making you feel. I think he's clueless. And I'm not insulting him.
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I'm saying we are all that way in relationships at times where we are in a place where we're not healthy enough or we're not attached enough that we don't realize what we're doing.
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So in this case... Uh, you two, you guys are, you're calling us to weigh in the middle of this deal.
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I got to add this. Our friend, mutual friend, Ian Cron, we were together yesterday. He said, when we're upset at somebody over their behavior, we're really irritated. He goes, it reveals in us something where we can grow. And I'm adding that onto what your advice and your insight. I thought that was really good.
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Yes. I'm going to tell you as a father of three, Rachel's a mother of three. My vote is yes. Each one of them gets the same amount. You create a whole, I don't like giving them all different amounts based on their realities.
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Well, I think this comes down to, Rachel, how big of a stressor this is for you guys when you talk about it. Are you both pretty adamant and it gets kind of tense and there's a lot of separation? Or are you guys a couple more conversations from going, okay, I see it your way. What's the real tension level now on this?
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So when you told her your point of view, did she agree with you and go, hmm, that's interesting? Or did she go, eh, it's too old school and I want to help?
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But where are you at on the $10,000 each? Forget the number amount. Is it an equal amount?
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And I'm glad you really segued nicely for me. You didn't even know. I'm going to throw a different angle at you, Diego. Because on one hand, I love the fact that you're going, I don't owe my kids a college education. And I don't think you do. But I'm not going to qualify this. I'm just going to say this, and this comes from experience.
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Diego, just because you worked your way through college and you took all the benefits that you obviously did doesn't mean that your child or children are going to do the same as you. They aren't you, number one. They really aren't. They aren't you. They will have some of your DNA, but they are not you. And they will have different experiences. They will have different environments growing up.
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And I think one of the challenges that we face, and I'm just being really vulnerable here, that I've had to learn as a father of three is that The things that I did, the things that I learned, the way that I handled life is so unique to me. And I know I'm saying something that's completely obvious, but I think we forget this.
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And I would just say that in this case, if you played this out the way that you desire, let's say your wife just went, I love that, Diego. Let's do that. There's a really high, high probability that one or both or all of your kids, however many you have, won't deal with it the way that you dealt with it. And they may go, Dad's out of his mind, the old coot.
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He's a goofball, and I'm going to go get a student loan because I can. And they get it done so effortlessly. And the very thing that you idealized and kind of thought, this is how I see it going, it would even break your heart. And so to that end, I would say if you can – Fund it. You should. As an option in the 529 as we teach, I'll give it back to my partner here.
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It's very, it's flexible as to how you can use those funds for lots of qualifications because the world, here's the other thing.
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The world is changing so quickly right now. What will higher ed look like when these babies are to that age? You and I have zero clue what it's going to look like. So I hope that perspective helps you. I don't think it's as easy as you just going, this is how I want to be because that's how it was for me. And I get that. If anybody gets that, believe me, I actually talk like that sometimes.
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You know me well. I'm trying to be transparent.
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And you're right, other ways to do it.
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Have them try an instrument, a sport, a hobby. Let them fail.
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I'm on Valerie's side. Sorry, Bill. 10 each.
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Looky there. You're live right now. This is exciting.
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I feel like she's talking about me there. So I really appreciate that, Kel. Thank you.
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You know, I'm looking at the screen here in the studio and it just occurs to me, we look like we're very coordinated today. We did not communicate ahead of time, James. This is just, you know,
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I'm a little excited about it, which is why I pointed it out. It's rare that we coordinate outfits. It never happens. So this is fun. But we're here to coordinate efforts on your behalf. How about that?
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Yeah, I'm sensing, Kel, that you gave us a real window into what's really going on here. And I think you need to be okay with how well you've done. I think Rachel nailed that. And there's the same thing that you identified at the start of the call. where you have some financial insecurity and you've saved all this money up and you're just afraid to spend it.
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That's also driving this question, which is I feel like I need more and more and more and I'm willing to be risky and go into debt to fill this hole in your soul. And the hole in your soul here is whatever you've come from that you've conquered, by the way. But you still have that fear. And by the way, we all have those. So you're not abnormal. Rachel's right. You've crushed it.
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So what was their response from a solution, or is there no conversation on an idea or two? I heard your idea. What was their idea? Did they say, sorry, you're stuck with us?
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Okay, I love the math thing, and I think that's the homework. I'm going to jump in and say, this is a continuation of some very uncomfortable conversations to which you and your husband have to own the fact that you invited them in here. And did they spend too much on the addition, in my opinion? Yes, I think Jade's right. But you blindsided them. Yeah, you did.
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I think you guys are going to have to solve this relationally over time, or... You're going to have to make the tough decision, sell the house.
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Split it and walk away. Yep. That's the either or, and I wanted to just give you that, what I think are your practical choices.
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Well, I'm going to jump in real quick on the baby issue. I would not be greenlighting a baby while we're in debt, and it seems like there's a lot up in the air with you two. So that's the first thing that I heard that to me is a red flag. Okay.
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Is it her idea or your idea? Is this one of those, hey, Mark, I'd like to have a baby, and you're like, oh, okay. Or were you the one that brought it up, or was this equal excitement?
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What are you waiting on? What are you waiting on? Why haven't you asked this girl to marry you?
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About seven years. Okay, I didn't pick up on that.
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I've never heard that, and that became my newest favorite phrase. Get some grits or get out of the South?
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You need to get serious, though, man. Get out of debt. Like, this is priority number one is clear all that junk. And by the way, that's not an insurmountable number for you.
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Okay, so they've taken possession of the car.
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And you've got something in writing that says if you give them $500 before the end of this month is over, they're going to wipe that debt clean.
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I mean, that would be a massive deal, so go make the money.
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I want to hear a little more gumption out of you because you've got a woman who you've been with for seven years and she's talking babies. And she's got debt and you've got debt. It's not in any way something you guys can't take care of. But this is the moment here where you've got to step up and be a man. And I'm going to define what a man is in a non-politically correct way.
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A man understands his duty and he accepts the duty whether or not he likes it or not. That's fact. And you've got to take care of your own debt. and you've got to model this for this gal so that if you guys spend life together beyond the seven years, and I hope you get married, but I'm not going to push that on anybody. That's right.
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By the way, while I'm preaching, the data is clear, and you guys can go Google this. Everybody likes to talk about fact-checking in this political environment today. Fact-check me on this.
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The data shows that you are healthier... Emotionally, mentally, physically when married. And you have the opportunity to make more money when married. So this is not my opinion. So there's lots of data. I'm going high level here because I don't want to sound like the old guy saying get off my lawn.
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But I think he needs to step up right now.
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By the way, I looked up the cost of a Slurpee because you just made me think about it when you said 7-Eleven. Back in the day, I could get a large Slurpee for 99 cents. Now a large is $2.50 for all that sugary frozenness.
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Ken loves these questions. I love these questions. Okay, you got to give us the case. You got to lay this out for us because you're getting a great female point of view and maybe a decent male point of view. We'll see. Give us the reasons why you would get married sooner rather than later. Give us sooner first.
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Okay, well, he has no say in that. That's easy. Literally, he has no say. I'm not sure. I get the reason for the threat, but that doesn't make us have to move up the wedding date yet. I haven't heard any evidence for that. So that's one reason, right? That's the primary reason to move it up. All right, what was the actual date of the wedding that we were planning on before this phone call?
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Is this grad school for her if she's already in school? I'm trying to catch up here. Is she is this about a grad school situation? Undergrad. Oh, she's never gone. She's 21, but she's never gone to college. No, she's in community college right now. Okay, so we're talking about, that's right, you did say that, moving from community college to college.
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Okay, and so if you stick with the date that you guys have, the pros of that are very obvious. You just laid them out. What are the cons to moving up the wedding? Because I'm assuming you think the pro is get her out of the house with dad, and she doesn't feel that threat as deeply, blah, blah, blah, blah, blah. I get that. But what would be the cons, the negatives to moving the wedding up?
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Yeah. Okay. That's very real. I get it. Unless I'm missing something, Jade and Eric, your wife-to-be is going to have to put her big girl pants on and tell dad. You don't get to make that decision, number one. And if it gets so uncomfortable that she doesn't feel, and I would understand this too, not being in the house with him, she's got to come up with some arrangements.
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But we don't want to rush everything and put you guys in a desperate situation in order to avoid an uncomfortable situation. That's how I'm seeing this. And it's all her. And I understand why it's uncomfortable, and I feel bad for her. But she needs to fix that. She either says, Dad, go pound sand in a very respectful way. Yeah. and then he gets over it.
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It put me in a good mood. Yeah. Oh, thank you.
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Or if it's going to be so uncomfortable, then she goes and lives with a girlfriend or two or three, and we wait and clear up our debt. We make the transition to education and all that. I just think, Jade, that I'm going to say it. I already said it. I think it is a bad idea to put yourself in a desperate situation to avoid an uncomfortable situation.
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Do I need to get below this desk? Is that what needs to happen?
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It's not okay. This is a marriage conversation. That's what this is. I mean, Jade's right. It'd be one thing if you both are on the same page and decide to do it. But you're giving us a scenario where you're not on the same page. And you guys have said, all right, we're going to save money. I feel like we're thinking about this too hard, Daniel. This isn't a sinking fund. You can call it that.
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You nailed that. Has she told him that she doesn't want to work for him under any certain circumstances?
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Wow. Well, but that's his problem. Truly. It doesn't change my advice.
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Good for you. I think that's great. That's exactly the advice that I'm giving. I 100% love that example. Yeah. You were like, all right, pops, if you're going to have a problem with the dude, I'm going to remove myself.
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had a problem i was just spending a lot of time with sam he was just having a daddy and dad was having like he was having his own issue his own issue it's not your issue it's not my you know i was flying the coop you know that's what's going on here exactly dad you said it has a plan for her life yeah and she has to remind him that the last two words in that sentence are her and life yes and that's tough and by the way you have to stay out of that eric she's gotta handle that
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But I would not rush the wedding. Please don't rush the wedding. You yourself said, I can't afford to do what we need to do. And boy, oh boy, I'm going to say this. Jade, weigh in on this. The first year of marriage, in my opinion,
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okay is the hardest year of wild wild west because you get into it going oh this is great we come off the honeymoon and we've been in love and then you got two individual people coming from two different environments yes and you're smashing them together like a smash burger bro and it's tough and i know i would not want any first year couple to have any financial stress if they could keep from it
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Hold on. Ouch. Ouch. Those are my toes being stepped on.
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We don't do well being, we love being a girl dad, but we don't know how to handle it.
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But this is just called... Intentional savings. And Christmas comes once a year. And it's an expensive month. And so we're saving money so that we aren't tempted to go into credit, right? And do all the things that everybody else in America does. I get it. She doesn't get it. And so you got to help her get it. And this is a multiple conversation piece potentially where you go...
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No. What is the amount total that you're putting away each month for both kids?
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So how many more years for your oldest child would we be contributing? How old again? He's in sixth grade, so six more years for him, and then it would be nine more years for my daughter. Okay. Okay, so we're talking, what I would do is, I'm trying to back into this and I'm not a mathematician, but basically you're doing $6,000 a year is what you're putting away for both kids, correct? Yes.
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Babe, we said we were going to do this and now you're changing it up on me. And it's not something big that we're in agreement on. It's just something shiny that you want. And you're just going like, I want it now. We'll pay for it later. And that's what Congress has done. That's why we're barreling towards $35 trillion in debt. I'm not joking. You're right. You're right.
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So you've got how many years left? Six more years for your son? Correct. Okay, and then the third grader, what, nine?
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Nine, but I'm splitting that between the 500, split between the two of them. I know. Okay, but here's my point. If it were me... I'm just throwing a curveball out here.
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I do not mind either one of you pushing back on this. I would take the $70,000 because it's really darn close to what you're going to contribute over the – the difference is not that much as to what they're going to contribute at this current rate, if I'm not mistaken. So I would take the $70,000 from Grandma, and I would use that.
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I would go ahead and put that in each one of the kids' funds, and then I would start using the money you've been putting in out of your budget – And I would just start moving down the baby steps from there. That's what I would do. Because I think it's going to come out. Put the 500 a month extra to the house. Yeah.
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Yeah, because I think then you're honoring grandma's request and you're creating, it's still cash flow. It's still the same. I mean, it's six of one half dozen another, but you're honoring grandma. Yeah, it's 60,000. But go ahead and put it in now. So go ahead and put the 70 in now. Yeah. And you're going to get the greater investment return on that. You see what I'm saying?
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Yeah, because it's a chunk. And then from day one, let's say you put the $70,000 in now, then you guys start taking that $500,000 a month and you start using it towards paying off the house. That's what I would do. And that way I'm honoring grandmother. I'm getting the benefit of that investment by getting that $70,000 in now and early as opposed to $6,000, $6,000, $6,000. Yeah, yeah, yeah.
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You're right, Ken. That's what I would do.
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It does, but I would also say, I'm channeling Dave right now, that Dave Ramsey, when he'd go, what you have is going to be enough.
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And the kids go, this is what we have. And so if each of them have 150, I feel pretty confident they're going to be able to get educated. Yes.
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But they don't have an unlimited number. They don't go, well, Dad, I want to go to Harvard, and it's $80,000 a year. You can go tough cookies.
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Okay, then again, you can choose to keep doing the $6,000.
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It's 100% what's going on in Congress. They just pass a spending bill and they go, well, we'll figure it out later. And so I think this is a marriage conversation to say, this is frustrating for me, number one. It's confusing for me, number two. And we need to get on the same page here. Because Christmas gifts, I think, are a priority.
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I think so. And so just a quick review here. I would put the 35 in each kid's account today. 35 here, 35 there. Yes. And I talk with your SmartVestor Pro, the person you're using, and go, let's play this out. Let's do our best calculator guess or amortize this, whatever you want to call it. And now we can look back and go, okay, based on this new 35 and 35 in each kid's account,
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Um, what's that going to end up being? And I believe it's going to take one of the kids to 120 and I think the other one 90 something or somewhere in that range.
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Yeah. So you got options, but I would honor grandma's request. I wouldn't take her money and put it towards the mortgage. I feel gross about that.
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Wow. Somebody write it down. Ken is right. I had to call my wife and daughter immediately and tell them. Hang on, I'll be wrong later.
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All right, today's question, Jade, comes from Declan in West Virginia. I'd like to say that I think Declan's a cool name, and I kind of would like this on Declan Coleman.
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No, no. I think you're right. That's why I said it. I knew it was going to be funny. And I want to admit that I don't mind being the butt of a good joke. And I don't think I could pull that one off. But back to Declan's question. I see so much on social media these days regarding how well... Everyone is doing, and I wonder if I'm doing okay. Oh. I pay $1,100 a month for rent.
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I have $900 in monthly expenses, including student loan, personal loan, cell phone, gym membership, and utilities. I don't spend much on food. No joke. Maybe about $750 a month. I rarely buy anything for myself. After taxes, I bring home $2,500 every two weeks. So he's got $5,000 a month he's bringing home. Why do I feel so behind? Well...
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I think the first and the biggest reason is because you're spending too much time focusing on other people's big wins. Boom. And so when I'm watching everybody else show off their car, their house, their shoes, whatever, whatever, as you describe, then I know from science, and we know this from neuroscience, that whatever we focus on, that's all we see. Man, yeah. And so all you see is...
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Everybody else is crushing it. And I'm over here in West Virginia just trying to make it through a month. And I think that's why you feel behind in the grand scheme of things. I don't think you're terribly behind. And it sounds like you're young. And my partner here in crime, Jade, there's another reason why he feels like he's not getting ahead too. You can see it in the question.
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What we can't see in this question is what are his monthly payments? We do know there's debt. Yeah, we don't know. And so if you were to take those monthly payments, and I could take a guess, just looking at that situation, he may have somewhere between $300 and $500 a month, might be more with the car payment. Does
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Okay, good. So my guess is you could give yourself anywhere from a $3,000 to $5,000 raise, not knowing the actual specifics here. That combined with I want to bust it to work. But again, Jade makes the best point here. What's the life that you want? What's the future life you want, not the life that everybody else has?
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Yeah. Which there's another piece of that. Oh, I've got to point this out. And this is going to sound so old man Kelly, our young millennial or Gen Z producer.
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So here's what I saw something. I saw this recently.
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I saw that... These influencers that are showing all this stuff where they're traveling around the world and they're staying at these nice hotels. It's all a ruse. Bro. There's four or five of them splitting the cost and then they shoot their video. Yes. I didn't know this.
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Yeah. So you never know what's behind the scenes. That really burned my biscuits. I'll be honest because I was like, they're lying to a bunch of young people and they're all splitting the cost. And none of them own anything and they can't afford to stay in the hotel or drive the car. And they're like, they're like renting a private plane and like six of them are shooting videos.
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So I'm just pointing this out. Like the stuff you see on TikTok and Instagram, I hate to be a conspiracy theorist. Where's Rachel Cruz when you need her? I think it's, I think I wouldn't believe anything I see out there.
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That'd be a debt-free scream, for an example, on the show. You'll watch the debt-free screams because you go, that, I want to be where they are. Yes.
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Where do I want to be financially in 30 years? Let's start there. Yes. What do I want to bless my family with financially?
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Where do I want to live financially? Yes. All the things. You start asking those questions, that becomes very personal to your point. And now this young man, Declan, with the cool name, goes, all right, this is the vision for my life. And I'm going to have to do this, this, this, and this to fund that. And you can ask those people.
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No, no, no. It's always the professional growth stuff, but I want people making more money.
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And I think you're making a really good point. You've got to want it. For you and for good reasons, not just because you go, well, it sure would be nice to have a private jet. Right. Or whatever you're seeing on social. Exactly. And you make a very good point. I went kind of the influencer route and what we see. But just everyday people are out there putting their best foot forward.
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And what you don't know is, is they're dragging along a twelve hundred dollar car payment behind that new nice car. And I mean, look, you and I park next to each other in a parking lot. I think people would be astounded to know what we drive. Our cars. We drive nice cars. They're just old. Well, they're older. Older, yes. But they're nice.
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And we pay cash. You know why? Because I got three kids on the payroll.
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You're just getting ready. Your expenses are low. I know. I know. Until that boy of yours eats a carton of eggs in two days. Yeah.
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You saw what I did. I stayed away from that.
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So for anybody over the age of 50, slide into their DMs just means send them a direct message on social media. We got to explain things like that. That's correct, Ken. You're right. I'm looking out for my people out there.
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Yeah. Because to your point on flexibility, Christmas isn't flexible. No, it's the same day every year. Yeah. And I just think the way you've teed this up, Daniel is, is this right? Is this wrong? I mean, we've told you functionally how to use it.
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How much do you owe on that first house, the one that you're getting ready to rent?
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Yeah, same way. I mean, to really burst your bubble, that rental opportunity is not as exciting as you think it is. Yeah, I agree. And it's also not going to be as effective as you think it is. Let's take the $2,000 a month that you're saying you're going to get in profit. Well, that's not what you're actually going to net when you talk about expenses of taking care of the home.
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You're the landlord on that deal. You still own it. You're going to have expenses. You're not going to see $2,000 a month.
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Yeah. And so you're going, well, I'll take that and then I'll put it on my new mortgage. I just don't think you're going to make the progress that you want. And so, yeah, I'm seeing it the same way you are, Jade. I go, all of a sudden you've made yourself a landlord and you've taken on a really, really high mortgage. Now, you make good money. Yes.
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You make great money, so you shouldn't be in a burden there. But what's the point of keeping the first house when you could sell it and put a huge chunk and almost completely cover or get yourself really close to be able to pay that new house down pretty quickly? And that would be the play for me.
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Yeah, but he just bought that. That's not a smart move. He just moved into that one.
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I mean, that's where you want to live. That's your primary. That's what you guys are excited about is your primary home going forward, long term.
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I understand, but we weren't discussing that. The house you just bought, $1.2 million house, is that your long-term play? That's where you all want to be long-term?
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So what did she want to spend it on was the question from Jade.
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Yeah, and I'll use your own logic. I'll use your own logic really quick, Sia. You know, you said the very first home you had that you're planning to rent, you said, if I hold on to that another year from now, it's going to be worth another $100,000. And I'd say, well, the same is probably true for the new fancier, nicer area house you just got. Also true. Of course, yeah.
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So that's why I would put my money, I would divest of that house, I'd sell it, and I would do what Jay told you to do. And now we're on a track to pay that really nice house, or much nicer house off. Mm-hmm.
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Again, that's what we would do. Okay. I really appreciate it. Thank you very much for taking my call. You bet.
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This is a good man. I can tell you he's a distinguished gentleman. I can just tell you. I can just tell you that.
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Well, we're going to go with the debt snowball. So which one of those is, so we lay them all out. What's the 401k loan? What are the credit card loans? And I'm doing it for momentum. I'm going to play the snowball the way that we teach it.
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If it's a onerous loan and it's really costing a lot of money and he can wipe it, then I get that.
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I'd like to know the terms of that deal. Yeah. But I'm always going to go the snowball for momentum purposes is where I'm always going to default.
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What would the cost of the RV be that you guys are thinking about buying?
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That was the statement you made. We're not ready to rent. Yeah. Is it the cost?
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All right, Rachel, I've been very, very patient. We're having the wrong conversation. So I'm going to answer the question that you asked, okay? No, you should not stop paying down your debt to buy an RV. Okay. You have no idea what the RV is going to cost. You only have $2,500 in savings. You're more than $40,000 in debt.
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And you're presenting to us as though you can't even afford to pay rent, which isn't true, which is where I want to focus our conversation. The bottom line is, is your dogs are tearing up your parents' RV. You guys have outstayed your welcome. They need the money. So what I want to ask is, what...
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Does your husband and you, what's your bring home income, both of you, because I want to come up with, with Jade, how much you can actually afford and rent. Because that's what you need to be doing is going and renting and then taking your time and going as fast as you can go on paying off the debt. But buying an RV, you don't have the money.
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I would have said my answer would have been, all right, let's take what we've been spending on Starbucks and restaurants and let's put it away for a couple of months until we come up with the cost of the food.
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I don't know what our job was. I know what you were going to do. Yeah. No, because you don't have any money. So therefore, you were going to justify getting an RV, which if you really want to get our blood pressure high, it's when people ask us about buying RVs because it's a complete and total waste of money.
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So let's go to tell Jade what your take-home income is so that she can help you figure this rent out.
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So that's the game plan. Yes. So there's your number. 1250 years, your max, Rachel. Maximum. Okay. Now, I want to know if Hubs is working another job or two or open to working another job or two. Because $11 an hour, he's capable of bringing in more money. And he needs to be, especially when we're paying off debt. What's the story?
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Oh, I got a great idea. Why don't we move closer to your job?
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Oh, and by the way, it's probably closer to civilization I'm gathering, which means there's better jobs.
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He needs to pause on school. You all need to move. And get to a better place where you're not driving as far as you're driving with a little one. That's adding a lot of stress to your life. It's going to be a better job market for him because it's near civilization or in the middle of civilization. And he needs to be making $20 or more an hour. Mm-hmm.
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period end of story i don't care what he's doing and yes he needs to press pause on pursuing a degree because you guys can't afford it and you're taking a loan out without a path to doing marine biology work now i'm not saying he i'm not in any way crapping on the dream or trying to be tough guy or or get off my lawn guy but right now where there is no path We shouldn't be doing something.
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And so let's press pause. The marine biology degree will always be there. But you all need to get your income up and change your lifestyle. That's, yeah. Sorry. I know that's not fun to hear.
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That's not a suite. That's like a full-blown house they put on there.
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Was it licensed? I mean, I don't know what it is in Canada, but you have to get a permit for that in the United States. So did that change any of the titling at all? Or is it all still in your name?
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And you've been paying the taxes on the addition?
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So they just paid cash for the $200,000? Yep, yep. What's happened? Without getting into all the nitty-gritty, give us a good summary of what is going on relationally where you guys are like, wow, this was a bad idea.
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Oh, so they're suggesting all of this and you keep going, not right now.
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Has your husband had a conversation with his dad and his mom to go, hey, this isn't working relationally?
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Well, sure. But again, let me go back to the conversation. What came out of the conversation? Hopefully it was confrontational. It doesn't have to be ugly, but hopefully your husband confronted this. What was their reaction? Where do we stand today?
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How did they react? I still can't, I can't get a direct answer from you. How did they react? What did they say?
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Was this your idea or your husband's idea?
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All right. Another question. Cause we got to try to help you here and I still don't know. Okay. We know they were hurt and confused. Where does it stand today? Was there any kind of conclusion or tactical conversation about what's next after you've hurt them and confuse them? Where do we stand today?
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I want to add in here really quick. I'm listening to you, Derek. We know from research that whatever we focus on, in other words, we allow a thought to stay in our head and we fixate on that thought, then what happens is our brain goes and takes pictures of it everywhere.
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So in other words, if somebody starts their day off feeling like a victim, then the rest of the day, their brain is going to go look for evidence of this thought. Now, this is like basic neuroscience, all right? Now, here's what's happening. All throughout the conversation with you, Dave, I heard Derek, I heard you say, I heard shame. I did dumb in the past. I did stupid in the past.
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And Dave would tell you, do this. Lay it out. Set a budget. Be intentional. And you kept coming back to. And I just want to encourage you. I think you're so ashamed and so embarrassed, and I'm going to say a little bit of fear that you're going to do something dumb again. And it's because you're so focused on what you've done in the past instead of going, all right, Dave told me what to do.
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Have a written plan, and we're going to decide. We're not going to let the wife and me get excited and talk about a lavish barn. No, we're going to say we'd like to have a barn. Here's what good, better, and best would look like. So I just want you to start focusing on that you aren't going to do something stupid in the future with money. If you're intentional.
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I think that's got to be the new thought in your mind. I can be intentional with money. Therefore, I can win with money. And I think that'll change his perspective.
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Wow. Are you both for separate accounts or just him? You separated your money. Is that something you both have been for this whole time or just him? Because that's another issue here.
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Yeah, you guys have separate accounts. You said his consumer debts. Dave said you need to do it together. I'm curious. Are you both on that same page that you've always had separate accounts and you were fine with it, or is it him or you? Who's driving the separation of the accounts?
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So I think we're moving forward.
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Dave, you've done a lot of financial counseling crisis with couples. I'm going to bring this up for your take, but it feels like hearing what Kate just said, that this might be the last piece of the healing. Yeah. That she goes, okay, you've done your work, you've cleaned up, and now I'm going to trust you.
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And boy, that forgiveness in the form of trust feels like the last piece of healing and hopefully restoration for them.
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Yeah, it's absolute restoration is what I'm hearing here.
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I hate to admit this, but I don't always eat right. I know, I need to eat more fruits and veggies, but sometimes I just have to pound some chips because they taste so good. That's why I love my Field of Greens. It helps me eat healthy when I don't have much time. And each fruit and vegetable in Field of Greens was doctor selected for a specific health benefit.
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Heart, lungs, kidney, metabolism, even healthy weight. And folks, I ain't getting any younger. It's super easy to mix with water. And here is the great part of it. I thought it might taste like grass, but it tastes great. And only Field of Greens makes this promise. Your doctor will notice your improved health or your money back.
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So go to fieldofgreens.com slash Ramsey for 20% off your first order. That's fieldofgreens.com slash Ramsey to save 20% on your first order.
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So why the ambitious? Maybe explain that to us. What's the reason for going and getting this particular route?
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That's great, but here's my question. Let me jump in, because you asked us for our thoughts on how to do this, and so my question is, why are we doing this? I mean, I understand you initially wanted to be a doctor, but now it sounds like you've fallen in love with the legal side of things. Where do you want to be 10, 15, 20 years from now? MD. MD.
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Yeah, and I was expecting some unicorn description here, and you don't have that. So where do you want to be 10 years, 15 years from now? Doing what? Law or medicine?
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No. No. Any doctor would tell you that. It's not going to make you a better lawyer.
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Oh, my gosh. That's a lot of time and money to be very practical.
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Yeah. Dave's right. Samantha, you need to figure out the mountain. Let's figure out the mountain and then the best way to climb said mountain. Let's give her – Let's give her my book, Find the Work You're Wired to Do. It comes with the Get Clear Assessment. This is going to give you tremendous clarity.
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When you get the results of this assessment in less than about 18 minutes, Samantha, it's going to make it really, really clear to you which choice to make. And I think you've got to listen to your heart here, not your brain. Try to do it all. Do the thing that lights you up.
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Go get something. Go get something is the answer to your question. You need to be stacking cash if you're in a seasonal business. But I would also say, Dave is on to something. I would see what you can do outside. What did you say the outside work is real quick? Run through that real fast.
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I thought I heard gravel driveways. You know what I think, though? I think you'd be surprised how you getting into interior flooring could be – there's some transfer of some of that skill when you're talking about gravel driveways and leveling, stuff like that. I'd look into stuff like that, too, which is an extension of what Dave was saying. You're doing interior flooring.
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That's going on 12 months a year. And I think there's some transferable skills. So if I was you, I would be taking a list of paper today and I'd go, what are my actual specific describable skills based on that work I've been doing so far? And with a little bit of training, a little bit of observation, I can transfer that skill. That's where the biggest bang for your buck is going to be.
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And you're actually doing what Dave told you to do, which is now diversifying your company.
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I just think if you can do gravel driveway, you can do interior concrete.
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Yeah, that's what I heard. I heard the mindset of, oh, well, and I'm just going to close my mind off to all this other stuff over here and only focus on a little bit. And what's happening here is I'm not knocking him at all, but there is this defeatist attitude. I'm stuck and I can't get out. That's right. And you're not stuck.
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Which is why, by the way, he's staying in the Uber car a little bit too long. I'm not against Uber. Let me say this. And I've talked to so many people. I feel like this is becoming more and more of a thing because it's an easy thing as far as stepping from being laid off or fired into something. And I'm all for that. However, if you're not careful, you get in that car.
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And you're picking people up and you're staying busy and you kind of go, well, this is the best I can do right now. And you've got to treat those temporary jobs as just that temporary. You are getting after it to try to replace that income, not settling for a 50 percent cut and just reasoning it away. And that's the reality. I don't mean to be unkind. It's not a mean spirit I'm saying that.
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It's just I know how the brain works, Dave, and activity starts to replace intentionality. And there's a big difference between activity and intentionality. In other words, someone tells me, well, Ken, I submitted 200 resumes today. That's a bunch of activity, but that's not intentionality. You didn't go see somebody. You didn't go have coffee with somebody.
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And so that's what we've got to be careful of is not replace intentionality with activity.
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That's a great point, you know, because it's kind of nice rolling around in your car, your car, listening to your podcast, picking people up. That's nice.
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Activity and intentionality, there's a difference.
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Yeah, I was going to say. The tool belt's got plenty of tools.
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Okay. You're a high school graduate?
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I'm going to jump in quick because there's some money stuff that Dave's going to get to, but I want to tell you one of the strategies here you've got to be thinking about quickly is raising your income. How do you take the skill set that you have? You're at a big-time healthcare company, so you're in the building. How can you move up within the building?
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What skill sets can you add without going to college? What other types of work can you do to where we can get that income up by a minimum of, I want to say, 25% to 50% as you use your goal? You need more income. You just don't have much to work with. You're making $15 an hour.
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Yeah, I smell it from over here Yeah You don't need this guy to win you don't need him and He's become this weird support system for you that he's abused and manipulated So you've got to make a clean break. I'm with Dave. Clean break.
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Yeah. You know, thoughts are very powerful, and our brain goes and finds evidence to give truth to these thoughts. So changing your mind is a huge part of changing your life. You hate to see this out of destruction. Her parents and that poor girl, she's got to believe that she's worth it.
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Today's question comes from Daniel in Oklahoma. My church is very big on encouraging its members regarding tithing. Our church leadership recently said, do not focus on investment for retirement, but focus on investment given to church and the Word of God. Retirement investment can go up and down, but investment in your church and God's Word will always prosper.
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Should we stop investing in order to fund our local church? Well, if, all caps, if... A leader of the church said this to an individual, to you, or corporately from the platform. If they said this, this is not biblical, Dave. And so the answer would be a resounding all caps no from us.
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Yeah, this is borderline apostasy.
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That's right. It's evil. It's evil.
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Now you've gone and stepped in it.
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Yeah, J.D., I'm just listening to this entire exchange with Dave, and I think you've got to separate hoping and praying for this marriage from protecting yourself. Protecting yourself doesn't mean that you can't hope and pray. So it's like do the counseling, hope, pray, do everything you can that it does work out. But at the same time, you must protect yourself and stand up for yourself.
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In the midst of this, she's just rolling all over you. And it feels like in some cases I heard you almost making excuses for her. And I think you've got to stop that. Hoping for the best, but also have some sense and protect yourself. So there's got to be a mental approach to this.
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Yes. Oh, it's music to my ears. I love hearing no taxes. Uncle Sam doesn't get his bite of my cookie jar. And that irritates you. I love that you laid that out for me because I didn't know that either. But that's why they're forcing that is so that they can get taxes. Yeah, they want their money. They want our money. Pay me now. Pay me later. Pay me often.
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He, uh, his wife had 300,000 and he had about one 20 or yeah, about a hundred thousand.
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alongside the emotional. And boy, my heart breaks for you, JD.
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But you need a mental strategy while you're dealing with this emotional mess. And that's what Dave's telling you.
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You're going to make $15,000 a year gross on renting this house. Yes or no? Gross. Okay, sure. All right, yeah. Now, I know you're talking about putting money in it to renovate it just to rent it. It's just burning cash.
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I would sell it, pay off the debt that you have left, and take, like Jade said, take the rest of it and put it to the down payment with the million dollars and buy a sweet house and a sweet neighborhood cash because you're not making much money. Even if you pay it off, Jade gave you a second scenario. You pay off the 182, now you're in it. You're still only clearing about 25 to 30 grand a year.
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And I'm being generous because that's gross. That's not including reno costs, maintenance. Dude, it is not all it's cracked up to be.
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Okay. Well, we'll get to the cash. I want Jade to weigh in on that and help you out. But let's just talk about this reality that you're facing. You're saying, I can't get hired. Are you not getting interviews or are you getting interviews and you're not winning the interview? What's going on?
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His wife wants it. That's the challenge.
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He doesn't feel right. This is a therapy session. I mean it.
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They are both on different ends of the spectrum. And boy, oh boy, I've been married long enough to know how that turns out. This is The Ramsey Show.
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The Ramsey Show continues. I'm Ken Coleman, Jade Warshaw with you as well, 888-825-5225. Let's go to Erin in Augusta, Georgia. Erin, how can we help?
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And so your husband is going outside of medical and groceries and just keeping this child alive. Anything outside of the basics has to come out of the $300 a month from your ex.
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Is this a weekly or monthly, or is this just in some of the bigger things like you described, like summer camp?
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This is the Ramsey Show where you come America to get coaching, to win in your life, win in your money, win in your profession, and win in your relationships. 888-825-5225 is the phone number to jump in alongside the incomparable, the fabulous, and almost happy birthday gal tomorrow. She will be the birthday gal.
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I'm curious. How old was she when you guys got married? Six. Was he this way from day one? Yes. Okay. That's what I'm digging into.
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Okay. And so what I was, here's, let me tell you why I asked that question. I'm trying to figure out if this is because she's a brat and he resents her because she's also not his biological daughter. These are all reasonable things that a human being could be struggling with. And I say that, by the way, Erin, not from judgment, but a sense of understanding. Yeah.
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But the fact that you said he was this way day one tells me this is more his scarcity mindset about money. Rachel Cruz wrote a book, Know Yourself, Know Your Money, a few years ago, and it was a genius book, in my opinion. And I think he's got from his childhood his. So I would say there's two E's. It's our experience and our environment.
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So his environment growing up shapes his view of money, and then his experience with money up to this point shapes his view of money. So since he was that way day one, sure, he could have still had some resentment, but it would have been very small. just in her position, is not his biological daughter. I think it's more that he's a scarcity mindset guy with money. He's scared to death.
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Make Money Choices Today That You Won’t Regret Tomorrow
It's hoard, hoard. The resource is not a hoarder.
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Make Money Choices Today That You Won’t Regret Tomorrow
Okay, so I think he also resents your ex and how he spends so lavishly on her. And I do too. You do too. So you know what he's doing? He's correcting. He's course correcting whether he realizes it or not.
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Make Money Choices Today That You Won’t Regret Tomorrow
Well, no, again, here, I'm looking for specifics. When you say you can't get interviews, um, And that's across the board?
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Make Money Choices Today That You Won’t Regret Tomorrow
Yeah, this is a, I think this is a therapy session or a four. I think so, too. Because I think you need a... Here's what I believe. I really believe that you two need to get with a marriage therapist. And it's a safe place. What's great is you guys are not in crisis. You told us you guys get along on everything else. So this should not be too painful.
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Make Money Choices Today That You Won’t Regret Tomorrow
But it might be difficult to get to a middle ground. And I think you need a – I mean, appreciate you calling us. We're not marriage therapists. But I think getting an objective, licensed marriage therapist who can get you two in the room together and we find middle ground on this. Because hearing what I hear, Jade, I'm in the middle. I think he's probably way too tight.
The Ramsey Show
Make Money Choices Today That You Won’t Regret Tomorrow
But I think you also need to come his way Not in giving in to his demands, but understanding maybe where he's coming from. I think this is solved with a lot of understanding.
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Make Money Choices Today That You Won’t Regret Tomorrow
By the way, Jade, that's where the budget comes in.
The Ramsey Show
Make Money Choices Today That You Won’t Regret Tomorrow
What's your process? What is your process for getting these interviews? What are you doing?
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Make Money Choices Today That You Won’t Regret Tomorrow
Don't get me started. We played with a stick and a box.
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Make Money Choices Today That You Won’t Regret Tomorrow
Well, but again, to Jade's point, I think Jade's locked in on something here, Erin. I'm changing my opinion a little bit. I thought the man giving you $500 for a summer, that's plenty of money to spend on her, if that's what I'm hearing. Uh-huh. Okay. And I think you have to adjust your life and her lifestyle. Mm-hmm. Like, great, you work.
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Make Money Choices Today That You Won’t Regret Tomorrow
So come up with a better plan than she's just at her dad's all the time getting spoiled. So make a fix to that. But throwing more money at it doesn't solve all these issues. It just doesn't. You could send her to camp all the time. You've still got to come back to, I think, therapy and a budget. And I think this guy is probably a little bit more reasonable than he sounds.
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Make Money Choices Today That You Won’t Regret Tomorrow
But he needs a good reason why. Yeah, yeah.
The Ramsey Show
Make Money Choices Today That You Won’t Regret Tomorrow
I think therapy will change this in such a positive way. I'm hopeful. I really believe this. If you guys submit to this process and go in and go, okay, we're going to allow ourselves to be open to this process and meet in the middle, I think you guys can solve this.
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Make Money Choices Today That You Won’t Regret Tomorrow
It's complex given the relationship with the divorce and the dad and all this stuff. That's tough. But you guys can figure it out. This is The Ramsey Show. I hate to admit this, but I don't always eat right. I know, I need to eat more fruits and veggies, but sometimes I just have to pound some chips because they taste so good. That's why I love my Field of Greens.
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It helps me eat healthy when I don't have much time. And each fruit and vegetable in Field of Greens was doctor selected for a specific health benefit. Heart, lungs, kidney, metabolism, even healthy weight. And folks, I ain't getting any younger. It's super easy to mix with water. And here is the great part of it. I thought it might taste like grass, but it tastes great.
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And only Field of Greens makes this promise. Your doctor will notice your improved health or your money back. So go to fieldofgreens.com slash Ramsey for 20% off your first order. That's fieldofgreens.com slash Ramsey to save 20% on your first order. Welcome back to The Ramsey Show. Alongside Jade Warshaw, I'm Ken Coleman. Thrilled to have you with us. 888-825-5225.
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888-825-5225 is the phone number. Our Ramsey Show question of the day is brought to you by YREFI. YREFI refinances defaulted private student loans, which are different than federal student loans. YREFI refinances your defaulted private student loan and builds a custom loan based on your ability to pay. So kick your private student loan debt out of your life. By going to yrefy.com slash Ramsey.
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That's the letter Y-R-E-F-Y dot com slash Ramsey. May not be available in all states.
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Okay, so based on what you did in the past in the healthcare industry, what did you do, by the way? Oh, I was in finance. Okay, so on the number side. Okay, so based on that, that skill set is still there. It's not like you forgot how to crunch numbers and be detailed and all the things and be analytical, all the things that it takes to win.
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Make Money Choices Today That You Won’t Regret Tomorrow
I've heard that before. Toilet paper was the one that I heard.
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How much money did you have to front?
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Make Money Choices Today That You Won’t Regret Tomorrow
Yeah. Thank you. Thank you. Thank you.
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Make Money Choices Today That You Won’t Regret Tomorrow
So you've had a few interviews, but based on all of that, that's what people are telling you in the healthcare space that your resume is up to speed and ready to go?
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Make Money Choices Today That You Won’t Regret Tomorrow
All right, two things. One, I want to make sure, Christian, let's get her my Ken Coleman resume templates. They're very, very different, and they're designed to actually call attention to what I teach in my best-selling book, The Proximity Principle. So you've gotten a few interviews, but you have tried to get far more. So your percentage right now is, based on what I'm hearing, it's pretty low.
The Ramsey Show
Make Money Choices Today That You Won’t Regret Tomorrow
So how do we increase the percentage of actual interviews? The way we do that is through relationships. It's not going online. And I'm not criticizing you. I'm encouraging you. You are essentially playing the job lottery when you go through what is now heavy AI format when you go onto a website.
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Make Money Choices Today That You Won’t Regret Tomorrow
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Make Money Choices Today That You Won’t Regret Tomorrow
To give you an idea, there are tens and tens and tens of thousands of people that apply at Ramsey Solutions every year. They're coming through our website. But I'm going to tell you how you get hired here is how you get hired everywhere else.
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Make Money Choices Today That You Won’t Regret Tomorrow
Again, massive, massive construction sign going, watch out, watch out, cliff ahead. Nicole, are you feeling that too?
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Make Money Choices Today That You Won’t Regret Tomorrow
If I could play older brother, or I might be old enough to be your dad for all I know, I would just tell you that this is a serious, serious conversation. He needs to make some changes in his life if he wants to be in your life. That would be my bumper sticker.
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Make Money Choices Today That You Won’t Regret Tomorrow
Oh, it makes sense. I love this. I love you're bringing the heat today.
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Make Money Choices Today That You Won’t Regret Tomorrow
You make a connection. That's right. And so I'm going to give you my book, The Proximity Principle, to encourage you. But more importantly than reading the book, what's really important is that you begin to say, okay, as I'm moving forward today, as I'm talking to Ken and Jay today,
The Ramsey Show
Make Money Choices Today That You Won’t Regret Tomorrow
By the way, he's doing, by playing video games and buying fast food, he is essentially the same as a golden retriever there as well, just costing you money.
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Make Money Choices Today That You Won’t Regret Tomorrow
All the things. He's also a pretty decent gamer, sounds like. You see where I'm going, Nicole?
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Make Money Choices Today That You Won’t Regret Tomorrow
I got a chuckle out of you. I mean, listen, you can love someone... And decide to also say they're not the person that they need to be right now for me to decide to marry them.
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Make Money Choices Today That You Won’t Regret Tomorrow
I think this is a very real conversation. Back in my day, we used DTR, define the relationship. Kids don't know what that means, I'm sure.
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Make Money Choices Today That You Won’t Regret Tomorrow
I'm sure I dated myself again on that. But I think that's what's got to happen.
The Ramsey Show
Make Money Choices Today That You Won’t Regret Tomorrow
All right. So give her the, you're the strong female. I think she's a strong female. Give her 30 seconds on how she starts that conversation with our guy.
The Ramsey Show
Make Money Choices Today That You Won’t Regret Tomorrow
I think it's going to get his attention. Well done. Poor guy. But he's going to have to stand up at some point. He is. We'll be right back. This is The Ramsey Show.
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Make Money Choices Today That You Won’t Regret Tomorrow
Going forward, when I see a job that I'm interested in, I'm not going to fill out the online resume submission thing. What I'm going to do is I'm going to look at that job at company XYZ, and I'm going to go, okay. Do I know anybody that works at company XYZ? If the answer is yes, we reach out to them and say, hey, do you know somebody over in this department? Because this is where I'm looking.
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Make Money Choices Today That You Won’t Regret Tomorrow
Welcome back to the Ramsey Show alongside Jade Warshaw. I'm Ken Coleman. Glad to have you with us. 888-825-5225 is the phone number. Hey, folks, as the Ramsey work guy here, helping you win at work so you can make more money, really excited to tell you I've been dreaming up a concept for a long time. Jade, you know this. It's called Front Row Seat.
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Make Money Choices Today That You Won’t Regret Tomorrow
where we're having deep dive conversations with movers and shakers, thought leaders, people that are successful from every walk of life, designed to do three things. To get better as a person so that I take a better version of me to work, so I can move up the ladder professionally. And then as I move up the ladder, I'm going to be put in a leadership position. How do I lead?
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Make Money Choices Today That You Won’t Regret Tomorrow
And so helping you grow in your professional development is called Front Row Seat. And it is now out on YouTube, wherever you get podcasts. So check it out, Front Row Seat. It's a lot of fun. Here's what's unique about it. We have a live audience, and the audience sits with me and the guest, and they get a chance to ask questions as well. So it's not just me. So cool. asking questions.
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Make Money Choices Today That You Won’t Regret Tomorrow
I wanted the audience to be able to learn as I'm learning, engage with me, with our guest, and they also represent the larger audience. So download Front Row Seat, or not download, subscribe, wherever you get your podcasts, and on YouTube, just search Front Row Seat with Ken Coleman. All right, let's go to Orlando, Florida, where Mo joins us. What's up, Mo? Hey, how are you guys doing today?
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Make Money Choices Today That You Won’t Regret Tomorrow
And we walk through that. And the goal here is to get them to personally walk into Jade's office and go, Jade, I know you're hiring for this position. I want to tell you about my friend Christy. I've known Christy for this long. This is her story, her background. I've got a physical copy of her resume in this nice little manila file folder, if anybody uses those anymore.
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Make Money Choices Today That You Won’t Regret Tomorrow
Believe me, I'm going to tell him on the next break because he loves hearing it.
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Make Money Choices Today That You Won’t Regret Tomorrow
I've never heard of a parent investing in a 529 and then saying, hey, kiddo, pay me half of it back.
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Make Money Choices Today That You Won’t Regret Tomorrow
Or they put the resume in front of Jade and say, Jade, I'm not going to bug you. I'm not going to harass you. I'm not going to bend your arm. But I think you should seriously consider my friend Christy. Now, this is not a guarantee that Jade, who's helping me role play in this situation, is going to go, done, she's hired. Thank you, Ken.
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Make Money Choices Today That You Won’t Regret Tomorrow
Yeah, I was going to ask, do you feel stress, Mo, when you start thinking through this?
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Make Money Choices Today That You Won’t Regret Tomorrow
But you don't have any negative emotion about the lack of margin because of how much you're paying in mortgage?
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Make Money Choices Today That You Won’t Regret Tomorrow
I've been waiting for you to walk in and tell me who I should hire. That's not going to happen. But Christy, you get how that does move you out of the pile, yes? Yes. The digital pile. Now, if you don't know anybody at Company XYZ, you've got to ask, do I know somebody who knows somebody? And now we're playing this old game of seven degrees from Kevin Bacon.
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Make Money Choices Today That You Won’t Regret Tomorrow
Yeah, I agree. Thanks for the call, Mo. Please reconsider. Don't move. We'll be right back. This is The Ramsey Show.
The Ramsey Show
Make Money Choices Today That You Won’t Regret Tomorrow
Welcome back to The Ramsey Show. Alongside Jade Warshaw, I'm Ken Coleman. Phone number to jump in is 888-825-5225. 888-825-5225. Ray is joining us now in Dallas. Ray, how can we help today?
The Ramsey Show
Make Money Choices Today That You Won’t Regret Tomorrow
But I'm telling you, as old-fashioned and as simple as that sounds, that is the way to get noticed. And it's going to take some time, and you're going to have to keep turning over rocks. Turning over rocks, turning over rocks, and eventually you're going to get into the right situation where the door opens for you.
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Make Money Choices Today That You Won’t Regret Tomorrow
jade warshaw i'm ken coleman just happy to sit next to her that's how it goes folks just that's it i'm easy just happy to be here sunday morning i enjoy being with you friend we always have a good time so jade will coach you up on what to do with your money i'm going to coach you up on how to make more money how about that pretty simple let's go to the atl atlanta georgia christy's there christy how can we help
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Make Money Choices Today That You Won’t Regret Tomorrow
That's right. However, you decided that $250,000 at this point in time does feel right.
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Make Money Choices Today That You Won’t Regret Tomorrow
Now, I want to transition to Jade here because she's got some money she doesn't know what to do with, and I wanted you to help her out with that while she's in this season of part-time pay.
The Ramsey Show
Make Money Choices Today That You Won’t Regret Tomorrow
How, how long would the, the two 50 be paid out? Is it in perpetuity? Uh,
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So let me ask you this then, Ray. So they get the $250 each year. By the way, these are the grandkids we're talking about? Once they get to 25. Okay. So at what point would they get the rest of their inheritance? Is there like a kick in at like a retirement age where they get it all?
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Make Money Choices Today That You Won’t Regret Tomorrow
Because you were saying they're going to be building tremendous wealth, and it's like the 250 is a nice dividend, for lack of a better way of describing it. Is that right?
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Make Money Choices Today That You Won’t Regret Tomorrow
So when would they get the big chunk? Okay.
The Ramsey Show
Make Money Choices Today That You Won’t Regret Tomorrow
Okay, so it's $250 each year, and it's not like they get it all at one lump sum. That's all they get, and that's very generous, by the way, each year.
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Make Money Choices Today That You Won’t Regret Tomorrow
You know what I'm thinking, Ray? I'll get out of your way, Jay, but I was just thinking, I really trust your gut. I think you are a man of wisdom, and you have proven it with how you've lived your life and as to where you stand today. So I'm not going to second guess your plan. However, if I personalize it,
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Make Money Choices Today That You Won’t Regret Tomorrow
And if I was doing this for my grandkids, which I don't have, but if I'm sitting there thinking this, I'm wondering if even the most mature of 25-year-olds, it's not that they can't handle it, but how would it change their perspective if they knew they were going to be making a quarter million dollars every year whether they do anything at all? And I almost...
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Make Money Choices Today That You Won’t Regret Tomorrow
I almost would want to maybe put it to them in different ways. So, for instance, they get a really big lump sum to buy a house, but it can only be used to buy a house cash. You can put that in the trust, right? So that's one thing I'd think about. I'd be thinking about it can only go to an investment. It's going to be put in an investment thing, at which point you can only pull out at retirement.
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Make Money Choices Today That You Won’t Regret Tomorrow
That could be another way of doing it, right? But I'm not second-guessing your plan. Jade?
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Make Money Choices Today That You Won’t Regret Tomorrow
I would love to be Ray one day to be able to bless my kids and my grandkids that way. That's really awesome.
The Ramsey Show
Make Money Choices Today That You Won’t Regret Tomorrow
Welcome back to The Ramsey Show. Alongside Jay Borshaw, I'm Ken Coleman. So glad you are with us. 888-825-5225 is the phone number. Let's go to Devante in San Antonio. Devante, how can we help?
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Make Money Choices Today That You Won’t Regret Tomorrow
So true. I love that. Hey, Devontae, man, listen, I love your spirit. I love that you've got a clear goal ahead of you. And right now, you're working as hard as you can work. You are stacking jobs. You're just not able to be turned down if you're out trying to sell a house or sign up somebody who's looking for a house.
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Make Money Choices Today That You Won’t Regret Tomorrow
You just have got to turn this into big-time intensity, and that's the best thing you can do when you've got this sense of, oh, I've got to provide, and I get that, and I can hear it all over you. And no judging yourself, just moving forward, just turn that angst into effort.
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Make Money Choices Today That You Won’t Regret Tomorrow
And I think if you do that, you will be surprised at how quickly opportunities come to you to make more money so that you can move forward. So, I mean, that's the play. Owen is up next in Nashville. Owen, how can we help?
The Ramsey Show
Make Money Choices Today That You Won’t Regret Tomorrow
So a small SUV to midsize SUV.
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Make Money Choices Today That You Won’t Regret Tomorrow
Completely, yes. Okay. What about 15 grand? How's that number hit you?
The Ramsey Show
Make Money Choices Today That You Won’t Regret Tomorrow
No, no, no. I'm saying 15 to 20. If you can do 15, you can do 20 and not feel indigestion, right?
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Make Money Choices Today That You Won’t Regret Tomorrow
Almost. Well, but we're in the wrong narrative.
The Ramsey Show
Make Money Choices Today That You Won’t Regret Tomorrow
Oh, and I just bought my son two years ago a Ford Explorer that had 98,000 miles on it. We got it for 13 grand. It's an older model, but it's in phenomenal shape. And it's got, like I said, just at right now, he's only got 101,000 miles on it. So this idea that you can't get something that's decent mileage in the 15 to 20 range is not true.
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Make Money Choices Today That You Won’t Regret Tomorrow
where you want to go and by the way you get where owen is by budgeting by having an idea what it is that you have and you keep it the best way to make the most of your money by the way is creating and sticking to that budget and we've got the best tool it's every dollar makes it simple to plan spending track expenses and save for what matters most to you it's an easy to use app so go get it you can get it at the app store or google play or click in the link of our show notes get every dollar right now for free this is the ramsey show
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And I would, by the way, be getting solid hourly work. If that's what you got to do to make up the difference here. But hang on the line. Christian, let's get her a copy of The Proximity Principle. Let me tell you something. The right people will get you in the right place.
The Ramsey Show
Make Money Choices Today That You Won’t Regret Tomorrow
Welcome back to the Ramsey Show alongside Jade Warshaw. I'm Ken Coleman. We're so excited that you're with us. Well, it's that time of year. I can't believe how fast the calendar is coming at me. And before you know it, you're going to have to pay those taxes. And you need to make sure that you've got a pro.
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Make Money Choices Today That You Won’t Regret Tomorrow
who knows how to navigate maybe some of the complexities, or just making sure that you are not paying too much. All of those things that are associated with taxes, you just don't want to try to do it yourself unless you really know what you're doing. That's why we want you to think about a tax pro.
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Make Money Choices Today That You Won’t Regret Tomorrow
Go to ramseysolutions.com slash tax pro to find CPAs and enrolled agents who have been vetted by our Ramsey team. and I was just emailing back and forth with my local tax pro, and I always tell him, I gave you some love today on the show because I sleep better because I know he's taking care of business.
The Ramsey Show
Make Money Choices Today That You Won’t Regret Tomorrow
You know what I mean? I do not want to get on the wrong side of the IRS.
The Ramsey Show
Make Money Choices Today That You Won’t Regret Tomorrow
So do I. I'm not going to get distracted. Sometimes I hear the word taxes and I go into a rant. We're going to go to Kevin instead. Kevin is in Charlotte, North Carolina. Kevin, how can we help today?
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Make Money Choices Today That You Won’t Regret Tomorrow
If you're in Charlotte, I know.
The Ramsey Show
Make Money Choices Today That You Won’t Regret Tomorrow
Kevin, Kevin, Kevin, Kevin, you're going so fast. We've got a couple questions for you. I'm sorry. No, no, you're doing great. How old is your child?
The Ramsey Show
Make Money Choices Today That You Won’t Regret Tomorrow
Okay, so you've got 11-year-old. And then what is creating this windfall? What's the one million coming from?
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Make Money Choices Today That You Won’t Regret Tomorrow
Okay. So this is, so this is considered income. This is not an inheritance. That's why I asked that. I was curious.
The Ramsey Show
Make Money Choices Today That You Won’t Regret Tomorrow
Yeah, but let me tell you why I don't think it makes sense and why I agree with Jay.
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Make Money Choices Today That You Won’t Regret Tomorrow
Well, his wife, he wants to stay. So Kevin wants to stay where he is. The wife wants the nice upgrade of the neighborhood. That's true. Listen. That's true. That's true. I know. So let me throw this out as to why I like Jade's idea, and I want to give you real numbers, Kevin. Okay.
The Ramsey Show
Make Money Choices Today That You Won’t Regret Tomorrow
So here's the deal, all right? I've heard everything I need to hear, Jade.
The Ramsey Show
Make Money Choices Today That You Won’t Regret Tomorrow
Kevin, you don't need to be a landlord, and I just don't think it makes any sense. Here's why, okay? You only are talking about right now, if you owe $1,700 a month, you're paying for it on mortgage. You said it was about $2,700 that you would get in rent. That's $1,000 a month. On the low end.
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Your Income Is Your Greatest Wealth Building Tool
All right. So wait a second. This is a reasonable goal. This seems very impossible to you, doesn't it, Aaron? The way you're presenting, this feels like a mountain you can't climb. True or false?
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Your Income Is Your Greatest Wealth Building Tool
Yeah, but you had it. You saved it. My question is, what must happen between the two of you to make the additional $50,000 above and beyond your current income? That, to me, is very doable. the two of you have to come up with $50,000. And you've got about two years to do it or a year or so to do it. Is that right? Yes. Did I get my math right?
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Your Income Is Your Greatest Wealth Building Tool
Is it a year or two years from now you've got to have the $50,000?
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Your Income Is Your Greatest Wealth Building Tool
Yeah. So you guys can make, between the two of you, an additional $50,000 by selling something, picking up some odd jobs, a side job. Am I right or am I wrong? Is this possible, Aaron?
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Your Income Is Your Greatest Wealth Building Tool
Well, that's exactly what you said. You guys were cash flowing, so it's possible. It was a yes or no question. You sounded like a politician on a Sunday morning show, which I appreciate. So I'll ask again, with both of you being committed to not going into debt, which is how you've lived your life to this point, could you guys come up with the $50,000 when it's needed? Yes or no?
The Ramsey Show
Your Income Is Your Greatest Wealth Building Tool
But you should run for Congress. You should run for Congress. That is a fantastic avoidance of two direct questions. George, I see the balance of my time to the gentleman from Massachusetts.
The Ramsey Show
Your Income Is Your Greatest Wealth Building Tool
They can shlup breadsticks together at Olive Garden. Hey. Then they're together. And you're eating for free. You're eating for free. And who doesn't like the endless salad over there?
The Ramsey Show
Your Income Is Your Greatest Wealth Building Tool
Well, that's why I said the salad. You don't want the endless breadsticks or else, you know, you can't fit in the plane. That's a problem. But we digress. Hey, it's doable. A theme already in today's show, George. What's that? People don't feel like they can. We're going to maybe have to address some feelings a little bit later. All right, we'll be right back. Don't move. This is The Ramsey Show.
The Ramsey Show
Your Income Is Your Greatest Wealth Building Tool
Welcome back to The Ramsey Show. I'm Ken Coleman. I'm joined in studio by my colleague, George Camel, and we're thrilled to be here for you. 888-825-5225. You got a money question? You got a paycheck question? I want more in my paycheck, Ken. I'm your guy, so we want you to make more money and keep more money. To that end, George, tell people the best way to make the most of their money.
The Ramsey Show
Your Income Is Your Greatest Wealth Building Tool
It sounds like it's a behavior issue. So give us an idea of this. You called it food and spending. I know George wants to know this. I want to know, what do you include in food and spending? And then give us an idea of the consistencies of what you're spending too much money on in that line item of food and spending.
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Your Income Is Your Greatest Wealth Building Tool
By the way, there's all kinds of gold in the show notes. If we mention something and you think, oh, I didn't get that, just get to the show notes and everything is linked there for you fine folks. 888-825-5225 is the phone number. Erin is going to start us in this segment with, she's in Denver, Denver, Colorado. Erin, how can we help?
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Your Income Is Your Greatest Wealth Building Tool
Do you have this agreement in writing where it's super clear that you are indeed supposed to be at a 0% situation right now?
The Ramsey Show
Your Income Is Your Greatest Wealth Building Tool
Welcome to the Ramsey Show America, where we help you win in your life. We're going to help you win with your money, win in your work, and win with your relationships. Happy, happy new year, live for the first time in 2025. George Campbell is alongside. Happy New Year, Ken. Thank you, thank you, thank you. And I'm Ken Coleman, and we're here for you. 888-825-5225 is the phone number.
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Your Income Is Your Greatest Wealth Building Tool
Yeah. I mean, have you talked to somebody up the ladder there?
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I have their ID numbers. What do they say to you when you tell them what you just told us?
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Are they going to do the same kind of garbage to you on the $60,000?
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George, I disagree with you on this one. Not about paying it off, but I would fight this. The reason these people do this is because enough people put up with it. And Aaron, I'm not in any way casting judgment on you. I'm saying every time you get somebody on the phone, I would take their name down and Yes.
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And I would tell them I'm recording the conversation. And then the next time I talk to somebody and say, listen, this is what's happened. I've documented all this, how many times this has happened. I've been lied to. And I am going to hold you personally accountable. Do you want to be held accountable for this? Because I'm recording this.
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I would get very, very serious about this because they play this game to wear people like you out. And I wouldn't quit fighting because, George, here's the deal. If she does that, she's going to keep getting ripped off. She should not be paying one cent of interest via the agreement. And I wouldn't just throw it away. These people need to be dealt with. And the CEO of this, she needs to go public.
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You know what I would do? I would go to, is this a Canadian company? I'm sorry, Denver. You're in Denver. I'm sorry.
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Go to the local media. They love this stuff. Local media. I'd call every one of them in their hotline. I'd go, I'm getting ripped off, and I represent. I would make a stink out of this. They do not want bad publicity.
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You got to fight these people, George.
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I agree with that. But you can take it up several notches.
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I'd like to speak to the CEO. That's what I'd like. It kind of reminds me of that scene from Christmas Vacation where Cousin Eddie goes and gets the CEO in his pajamas. Oh, yeah. Puts a bow around him, brings him to the living room to answer for the jelly of the month club.
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Aaron can't do that. I know. But this is wrong. It's like trying to talk to the Wizard of Oz. I'm sorry, Aaron. I wouldn't quit fighting. I don't think we should let big companies steal from we the people. And they're stealing from you. This is wrong. Oh, my gosh. All right. The American way. We've got to fight, Ken. Going to get a quick little, what's the pill I like to chew when I get into this?
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A Tums. I'm going to take a Tums. An antacid for Ken. On behalf of you, the people, I'll calm myself. We'll be ready to answer more questions coming up. This is The Ramsey Show.
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Welcome back to The Ramsey Show. I'm Ken Coleman alongside George Camel. The phone number is 888-825-5225. We're answering your questions about your money, and that includes how do I keep it, how do I budget, how do I get out of debt, how do I make more money? George and I are combining on all those fun topics today for you. All right, today's question of the day is brought to you by WhyRefi.
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If private student loan debt is taking away your peace of mind and you don't see a way out, good news. You might need YRefi. YRefi refinances defaulted private student loans that other places won't touch and gives you a low fixed rate loan built for you. So go to YRefi.com slash Ramsey today. That's the letter Y-R-E-F-Y dot com slash Ramsey. It may not be available in all states.
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Well, Lucas, this is a heavy question. And just reading it feels heavy to me, and I'm not walking this out. So I certainly feel bad for you in that this is a tough decision, but I think it's a clear decision. And clear decisions aren't always easy. And this is a clear decision that's really tough.
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And what I mean by that is, is I think it's very obvious that you should go back to your former employer. You enjoyed the job. They've given you a great offer. Your words, not mine. And you only left them to help dad out. You've helped dad out tremendously. But it's not your responsibility to run dad's company. It's not your responsibility to grow dad's company.
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And you're going to have to do what is best for you. If you do not, you will resent your dad, even though he's done nothing wrong in this situation. So I think you ask the question, how do I leave my dad? I think you leave him with respect. I think you leave him with clarity. And I think you leave him with confidence.
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If you can achieve those three things, then what will be a tough decision will be less tough. In other words, I'm going to leave with respect and honor. I'm going to treat him very, very well. I am going to be super clear with him as to why and when and how. Uh, and I think again, that will then allow you to be confident that you are in fact doing the right thing, George.
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So that's, uh, I don't know what you want to add to that, but please do. That's a tough situation.
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My dad realizing we shouldn't try to keep this afloat.
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Lucas, thank you for the question. We really believe in you, and you've got to do what's best for you on that, and that ends up being best for everybody is what I have found. All right, Ontario, Canada is where we go next, and Emily is there. Emily, how can we help?
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Yeah. What's your total debt you're trying to pay off?
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So one year? Oh, I see where you're going, George. Emily, do you see what we're coming up with here on this plan? If you can knock the 18 out in one year, and we believe you can, love that that's your resolution, now all of a sudden, let's say it takes a year for them to start garnishing, what's that car payment that you're paying right now every month?
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Right. But my point is what I'm, I'm trying to make the case. I love what you're doing and what George said, because by the time they start to garnish, you're going to still be afraid of a payment. You freed up a huge amount of money to where you're not even going to feel the garnish. So we love that plan. Okay. Thank you. Thanks for the call. Really fun. Let's see.
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Simon in Boston, Massachusetts is next. Simon, how can we help?
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All right, Uncle George. I love this. This is right up your alley.
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But he's on the way, Ken. This is amazing. Way to go, Simon. Simon says, how do I stack some cash? I didn't think of the Simon Says reference. I was there for you. Good hour. Don't move. More Ramsey Show coming up.
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Welcome to the Ramsey Show, where we help you win in your life. We're going to help you win with your money, win in your work, and win with your relationships. Alongside George Campbell, I'm Ken Coleman. The phone number to jump in, 888-825-5225. 888-825-5225. Happy New Year to everybody. We're only going to say that, George and I.
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Because you don't want to cook. And here's the deal. Nobody's telling you you've got to be the greatest cook in the world and all this, but you're a single mom, so we've got to take care of you and the toddler. And this is going to come down to, I think it's two things, George. One, I'm seeing there's an emotion that you're not handling very well, and you're medicating the emotion with stuff.
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or two more days one day only and then you're gonna have to get over we won't be on the show tomorrow so we'll see what happens tomorrow so this is kind of your day to say happy new year and get a response because next week when we're on if we're on together not happening you're not hearing it not hearing it we're done with it maybe happy tuesday that's it i'll do that i like that better all right let's get it started let's go to phoenix arizona where kelly is waiting kelly happy new year how can we help happy new year guys thank you for taking my call you bet what's happening um
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How much debt do you guys have separately? I have about $15,000, and he has about $50,000. Oof. And I'm assuming he's in agreement with this reverse vasectomy? Yes. Oh, boy. I've got to tell you, that's a good dude. How old is he? How old is this guy?
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That was my next question. So now I see why you're trying to do this quickly. Yes. Well, not the procedure. We want this doctor to be steady and slow on that one. Right, right, right. Take your time. On behalf of every dude who's listening and watching this call right now, the next question is who's paying for it? Yeah. Well, they are.
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Okay, so because this is a financial question, and I know George is more than ready to answer this, but I feel like we've got to have a real conversation for a second. there's no guarantee that it's going to work. And I'm sure you guys know the medical percentages of it happening, but there's no guarantee.
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There's also no guarantee that even if the procedure goes fantastic, that you guys are going to be able to conceive in the timeline that you would like. You acknowledge this, yes or no?
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And so I don't wish that on anybody. I mean, I, I want everything to work in the timeline, but you know, it has to be discussed when we start talking about a $10,000 bill and you know, we don't want you to go into debt. So George, I, I bring this up to say, I think I want to make the best financial move period for this couple because
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Not the best way to figure out how to pay for this procedure, which may or may not yield what they want it to. Yeah, I mean, there's risk there. For sure. Does that change? I guess my point is, I'm asking you a question on behalf of Kelly. Does that change your advice? I may have a different take than you.
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And then there's the emotion of guilt or exhaustion or something along the cooking to where you go, I don't want to do it. I despise it so much that I'm going to willingly blow money just to make life a little easier. And by the way, certainly can understand that emotion. That's the emotion of convenience. It's hard. You're a single mom.
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Well, but then does that change her timeline, Kelly? We have a two-part question there. What's your answer?
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Yeah, what's the calendar on this? Courthouse, and then he's in the doctor's office the next week? Like no honeymoon straight to the emergency. It feels like what I'm hearing. Am I right, Kelly, or tell me if I'm wrong.
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And then when is he going under the knife again?
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All right, so we're on the same page. No reason for debt.
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I am in agreement with that, George. I was going to go... I mean, it's not that I disagree with you and Dave on the family first, but it's like... can we wait a little bit? Can we get married? You know what I mean? Before we start putting this pressure on ourselves to get pregnant.
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Yeah, max. Something like that. A, it's all cash, Kelly, of course. You guys don't need to go into debt for this. But to George's point, you could pause the baby steps in his plan, but I don't think we need to do that. Either you guys can knock the debt out and cash flow this procedure.
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And what we want for you, Kelly, is debt-free and baby on the way. That's what we want, and I think that's what you want. Is he on board for all this?
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Listen, all you had to say was he's 42, and he's going to go get a reverse vasectomy, and this is a good man. This is a good man. Might be slightly crazy, but he's a good man. I need a Tums after that one, Ken. No, it's the wrong pill. Oh, sorry. Baby Samantha. And an ice pack. This is the Ranger Show.
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I mean, you've got a lot going on, and it's a lot easier to just drop by, pick up some barbecue on the way home, and not have to prepare it. It's already ready to go. So, George, I just see there's two – I think this is an emotion issue. She needs some guardrails, like you're trying to tell her, but dare I say – Get to the root of it. Get to the root of this and really lock in on –
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Welcome back to the Ramsey Show. Alongside George Campbell, I'm Ken Coleman. So excited that you're with us. 888-825-5225 is the number to call in. You got a question about saving some money, getting out of debt. How about making more money in that paycheck? Well, you got the guys today to help you out with that. Thrilled to take your call. 888-825-5225. All right, George.
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Do you have a bit of a real estate prediction today? As we start the new year, what do you think about the housing market? What do you think? Do you pay attention to it at all? Yeah, it's been a bit of a roller coaster.
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Really? Okay. All right. I'm reading some stuff where some people think it's going to be a good year. I think it'll be good. It's going to take longer than we would like it to. Okay. All right. Well, that's why we created Ramsey's Real Estate Home Base. That's right. It's called Ramsey's Real Estate Home Base.
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This is the place with all the tools and resources you need, whether you're buying or selling, George. and half the battle is confidence if you're buying or selling so that you're making good decisions.
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You're going to find things like calculators, start to finish guides, how-to articles, a podcast, a book, even a video course, all with practical, easy-to-follow steps so that you can navigate through buying or selling. If you're ready to take the next steps toward your home goals with
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peace of mind go to ramseysolutions.com slash real estate super easy to remember ramseysolutions.com slash real estate or click the link in our show notes if you're listening on youtube or via your favorite podcast and again all the stuff we tell you about if you go i didn't hear what he said show notes My two favorite words, George. It's where you get everything that we talk about.
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You don't have to stress. All right, let's get back to the phones. Raleigh, North Carolina is where Ryan sits and waits for us. Ryan, how can we help?
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We're doing well. What's going on?
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Congratulations, man. That is big time.
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the son's twinkling of the eyes and you feel guilty maybe because of the relationship status and his father's, I don't know what it is. And I'm not trying to read your mind, but the best advice I could give is I don't think this is a money problem. I think this is an emotion problem and you're medicating.
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And does she have any kind of income outside of, give us the whole income situation. That would be if she's taking social security or not, any other kind of pensions and then a job, what, what's her income look like?
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You know, I think this is, you called us, if it were me, I'd have a sit down with mom and I'd do exactly what George just said. I would say it to her and you've got to be very respectful and say, mom, I realize because I love you so much, because of all you've done for me, I've been enabling you. and I can't do this and I'm afraid I'm going to resent you.
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And you are in a situation where financially you will become a massive burden for me. And that's not how I want you to end. And I don't want the next season of our life to be this. I think this is a real honest, but very respectful conversation to say, I don't think you want to be this to us.
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And I don't want this because I, I want the time that we have left with you to be about relationship and honor and not resentment and burden. And I think that's the conversation you've got to have. She may not respond well, may not like it, but you've got to do this for you. Because I'll tell you the person we haven't discussed on this call that I'm thinking about the most, and that's your wife.
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This thing gets really sour pretty quick between the two of you because you, by enabling your mom, put your wife in a really, really tough situation. That she didn't ask for. And I'm telling you as a guy who's been married a long time, I'm telling you, you're not thinking about that.
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So I'm trying to be kind of that older bro right now and say, this thing is not only could create a wedge of resentment between you and your mom, even worse. a wedge of resentment between you and your wife. And I hope this is a wake-up call for you. Have a respectful but very clear conversation, George, to where mom knows now there's a new reality and she's got to do something about it.
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Have you talked to your wife about this? What does she think?
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George, in 30 seconds, what would you say to him about the fact that mom's only got $4,000, she needs to get a job, what is she doing on that retirement play? Let's say she's healthy. What would your advice be?
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Another follow-up question. What do you think about long-term care, given that she's healthy now? Well, she can't afford it. It's the problem. Well, but if she works, she can. Yes? No? Maybe.
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Is that something that he may look at?
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Wow. All right. I don't know if it's in the cards. All right, got to run. Quick break. Be right back with more of your calls. This is the Ramsey Show.
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Welcome back to the Ramsey Show. Happy New Year, America. So excited you're with us. 888-825-5225 is the phone number to jump in. You've got a question about your budget. You've got a question about your debt. Not enough check left over at the end of the month. Boy, oh boy, do you have the two guys you need today.
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George is going to help you manage the money, and I'm going to help you make more money. That's our goal. So give us a shout. 888-825-5225. Zach starts us off right now in Salt Lake City. Zach, how can we help?
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Because I think the traditional response, the human response to a job offer with more money is to go, oh, I feel like I got to take it because I'm an idiot. I'm a moron. I mean, crazy not to take a big bump like that. And I think you're probably feeling some of that. And that's very natural. But for you to say, well, I'm not sure we want to make that move. I think that's mature.
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I only have one other question on this one that I think would make it fairly obvious to me. If you were to take the new job. And let's put the extra bump in salary aside. Would that put you on the ladder that you eventually want to be at the top of? In other words, does it fast forward your ultimate professional goals?
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Well, then I would consider that more than I would, man, we really like our current house. Now, that's me. And I think, George, you can make the case. And I'm bringing you in. You could make the case. And I said it was mature to go, I'm not sure we want to leave this community. I'm not sure we want to leave this house. I think that's also, George, equally something to consider.
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Just the kin answer, I would always lean towards, I want to move up the ladder if I've got a good opportunity and I've got to give something up. You know, John Maxwell, my former boss, legendary leadership guru, said, you've got to give up to go up. And so the question is, Zach, what are you willing to give up to go up?
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The Ken answer, and I'm going to cede to you, George, my answer is I'm going to give up the comfortable home, the zip code, the friends and family.
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888-825-5225. All right, George, you ready to get it started? I hope so. I'm a little foggy. You're a little foggy? Callers are lined up, and we're going to Australia for the first call of the show today. How fun is this? Charlene joins us. Charlene, how can we help today?
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There we go. But you got George here. George is Mr. Budget Guy. All right. So, by the way, how does this not make sense to make more money? We're talking about a $20,000 bump in your main salary. You still got the opportunity to make extra money on the side as well, like you are now, correct?
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Yeah, and I appreciate that, George. You're absolutely right. But Charlene, I have to challenge you. You just told us and a lot of people listening and watching that you don't know how to stop. And I think therein lies the problem. You do know how to stop. How do you stop not buying takeout? You tell me. What's the answer?
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Just go to Indiana or Kentucky and do a weekend visit. Yes. And go look at housing. Spend a couple hours tonight on one of those real estate sites. I love these things. You can type in literally the area, a zip code, and it'll show everything about these apps.
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That's not what I always say. I was trying not to endorse anybody. No, I appreciate that. I've got my personal favorite. You saw me pull the plane up a little bit there. Starts with an R. Yeah. I like it. It's good information, though. My point is, in the comfort of your home tonight, by the fire, you guys could start looking at real houses and real prices in these areas where you could go work.
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This is the thing. You're scared to death of the unknown, and the answer to that is, go get some answers. Are they covering any relocation expenses?
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Just sell it. No, you don't want to be a long-distance landlord. That's our position across the board.
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Where did scared Zach about the new house payment go? Now he's a real estate guru. Yeah, now you're a real estate baron. What's going on? You're all over the place.
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Trust me, we're having a good time.
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Yeah, I got to tell you, George and I are in full agreement. The two judges here on the panel, move or not move, move or stay, we say move. This is a no-brainer. I think this is what your heart wants. Am I right?
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Bro, this is a no-brainer. The studio audience is just waiting for you to make this decision. They're going to be throwing rocks at the glass here in a second. They're going to throw rocks at the glass if you keep asking questions about this. This is a no-brainer. You know what? You've done a very good job of thinking through everything, but you're overthinking now. You know? Okay.
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Is she near you right now? Are you guys in the same house or building, or are you separate?
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I think I get to be wit. Knit and wit. I like that. That's good. All right, quick break. We'll be right back with more of your calls. This is The Ramsey Show.
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We start meal planning and we grocery and we budget. The old quote from Mama Camel, we have food at home. We have food at home. I mean, this idea that I don't know how to stop. Charlene, you're a really nice person, so I hope you don't take this the wrong way, but that is you are acting like a victim. Like, oh, there's some mysterious thing about me. There's something wrong with me.
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Welcome back to The Ramsey Show, where we help you win with your money, win in your work, and win with your relationships. 888-825-5225 is the phone number. Alongside George Camel, I'm Ken Coleman. Excited to have you with us. Dan starts us off in Tampa, Florida. Dan, how can we help?
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Good afternoon, sir. How can we help?
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I'm single as a Pringle. Wow. You're really looking ahead. Hold on a second. Did you say single as a Pringle, as in like a chip? I did. I've got to tell you, I've never heard that one before. It's very exciting. I apologize. My ADHD was flaring. Go ahead, George. It doesn't take much to excite Ken these days. Well, I like it. I've never heard that before. That's a good line. But it makes sense.
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I'm getting it. Thank you. Thank you. Okay. So you're saving this money for a future lady in your life. It doesn't even exist.
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Are there other things that you should be saving for?
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It had a sense that it just didn't add up. What do you have? What is sort of? What does that mean?
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How big of a car do you need to get gum off the road?
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And you need something that big to haul around the gum getter upper equipment? No, not necessarily. I could downsize. You see where we're going here? All right, George, walking through getting rid of this monster. He doesn't need this giant $50,000 truck for a side business that scoops gum up.
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There's something in the universe. And you're not saying this, but I want you to sound out. You hear how silly that sounds when I say that?
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When I'm hiring gum guy, I'm not going, he better show up with a nice dually on that thing. I'm hiring the one guy on the planet who's going to get the gum off the street. They don't care what your truck looks like. In fact, they kind of expect you to drive.
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In fact, if I'm hiring a guy today to come get gum off the street, I kind of want to see the guy that's got a car with two-tone paint on it, the bumper's beat up. I go, now that's a guy who can get the gum up.
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Would you consider, Dan, getting this gum off the public streets? It's a dirty job. Have you heard of this concept? My friend Mike Rose got a very popular show called Dirty Jobs.
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But would you consider what you do a pretty dirty job? It's not a fun job. You can be, yeah. All right. My point is you don't need a fancy truck. We're trying to drive this home. So get rid of that. What's the truck payment on that?
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You're not a silly person, are you, Shirley? No. Stop acting silly. Stop today. It's a daily choice. That's how you build discipline. Let's help her out. What can we get to her? She's in Australia.
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There's your ring cost when we get the lovely lady interested.
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Yeah, I agree. Because you're making enough money to where you can cash flow a nice ring. That's what we're getting at.
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Drop the truck. You don't need a fancy schmancy truck. All right? Get rid of the truck. Keep scooping the gum. Retained earnings. More profits. Start listening to the Entree Leadership Podcast. All right? He's got himself in a sticky situation, Ken.
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Your Income Is Your Greatest Wealth Building Tool
I'm supposed to do the dad jokes, but you're dad now, so welcome. Thank you. By the way, the Ramsey Network app is the only place to get the full episode of The Ramsey Show. So, for instance, this is our second hour. If you want to get the third hour, the only place you can get it is the Ramsey Network app.
The Ramsey Show
Your Income Is Your Greatest Wealth Building Tool
You can download it for free using the link in the show notes or by searching the Ramsey Network in your app store. Now, if you're on radio, stay tuned. We've still got a lot of show coming to you. And to that end, how about a question from the Ramsey Network app? What do you say, George?
The Ramsey Show
Your Income Is Your Greatest Wealth Building Tool
This is from Scott. He asks, My wife had significant student loan debt with multiple loans. We paid off most of them. The last one is a mortgage against her parents' house. It's about $29,000. They want to move soon, and we need the loan in our name. Do we take out a personal loan, refinance our house, get a HELOC, or something different? What say you, George? Oh, yeah, yeah. Yeah.
The Ramsey Show
Your Income Is Your Greatest Wealth Building Tool
Because her last student loan is a mortgage against the parent's house.
The Ramsey Show
Your Income Is Your Greatest Wealth Building Tool
And it looks like they've paid off a good amount. We don't know the amount of money they've paid off, so it looks like they've got the discipline to do this, and that gets them free and clear of the parents, which is, again... Always messy. You're always preaching about this kind of stuff where family members come to the table. They want to help. So they go, hey, well, you can do this.
The Ramsey Show
Your Income Is Your Greatest Wealth Building Tool
Put it on our blah, blah, blah. And then you get in a situation like this. This one doesn't seem like it's sticky. I hate what the gum pun is still going. But nonetheless. As soon as they want to move, now you're in a pickle. That's right. That's right. So this is why we preach. Just stay out of that stuff altogether.
The Ramsey Show
Your Income Is Your Greatest Wealth Building Tool
This is all my brain wants to think about. But instead, we have to work. We have to be professionals. I'm trying to think right now, like this whole situation, like where this young man got the truck, right? And he's in the gum business. I need to Google this business. Yeah, yeah. Scooping up the gum off. And I'll bet you he's getting paid by municipalities.
The Ramsey Show
Your Income Is Your Greatest Wealth Building Tool
It sounds like these are public roads, things like that. So I was going to come back to this. I wanted to get to the network app question. But coming back to the situation. This is a really good potential business for this guy because if he does a really good job, then you start getting- He's the go-to gum guy.
The Ramsey Show
Your Income Is Your Greatest Wealth Building Tool
All over the state or wherever, and it's pretty easy money because not everybody's lining up to do that, but he doesn't need the fancy truck. Is it relegated to just gum? That's the question. Is it any sticky substance on the road? I got to believe if you can get gum up, you can get gunk up. Maybe it's gum and gunk. I don't know. But he doesn't need... I'm trying to come up with an analogy.
The Ramsey Show
Your Income Is Your Greatest Wealth Building Tool
You don't want it to blow up in your face. Have you seen that business, College Hunks Hauling Junk?
The Ramsey Show
Your Income Is Your Greatest Wealth Building Tool
And with that, I... We did gum and gunk, and then you had to bring in College Hunks. Nobody knows why. It's a business. Everyone knows the business. You know this business? There's one lady in the lobby who's apparently paying attention to the College Hunks. Nobody else in the lobby even knows what we're talking about. I'll fill Ken in on this break. All right.
The Ramsey Show
Your Income Is Your Greatest Wealth Building Tool
We'll look it up only on your computer, though. All right. Good hour, George. Thank you, sir. This is The Ramsey Show.
The Ramsey Show
Your Income Is Your Greatest Wealth Building Tool
You're not a silly person. You told us all. No games. We believe you. So stop acting silly. All right. Serious business coming up next. We'll cover your calls, and George and I will discuss when do you stop saying Happy New Year. America and the world needs to settle this, and we will next.
The Ramsey Show
Your Income Is Your Greatest Wealth Building Tool
Helping you win in your life. This is the Ramsey Show. I'm Ken Coleman alongside George Camel. And we are here for you. 888-825-5225. 888-825-5225. Well, we're rested and relaxed. We've had a little bit of downtime. And back live today here on the Ramsey Show. By the way, a beautiful, and I do mean beautiful, studio audience today.
The Ramsey Show
Your Income Is Your Greatest Wealth Building Tool
Folks from all around the country joining us live here in our Ramsey Solutions World Headquarters. So fun to see them. And a reminder, you can always come join us. We have free coffee, free baked goods, and all kinds of things. And love coming out and saying hi to the folks during commercial breaks. Happy New Year to you, George. And Happy New Year to our growing audience.
The Ramsey Show
Your Income Is Your Greatest Wealth Building Tool
And this begs the question, because I think of these things, and I could certainly be called neurotic, but I think this is a conversation that serious people want to have. And, you know, we're always helping people get free of debt, free of toxic relationships, free of meaningless work, right? Okay. I think people want to be free of saying Happy New Year. Are we done with it as a society?
The Ramsey Show
Your Income Is Your Greatest Wealth Building Tool
Well, so today's my first day back in the office. And so I see people. I've already had a couple meetings this morning. And the obligatory Happy New Year. Happy New Year. And so I ask the question for myself, but for you today, and the American people and people watching from around the world, at what point should we stop saying or should we feel free? to stop saying it.
The Ramsey Show
Your Income Is Your Greatest Wealth Building Tool
And I think that the end of this week, the very first week of January, I think you should be free of never having to say it again. So we're in the first week right now. When does a week end in your mind? Well, the first work week, because you're back in the professional rhythm.
The Ramsey Show
Your Income Is Your Greatest Wealth Building Tool
You don't have to. And you shouldn't have to. Now the question then becomes, what happens if you show up on Monday and you haven't seen some of your team, which is going to be the case, and they say Happy New Year to you? Do you reciprocate?
The Ramsey Show
Your Income Is Your Greatest Wealth Building Tool
Very nuanced. Very nuanced, George. I just think the world we'd all be better off if we all said, week one, happy new year. After week one, can we move on?
The Ramsey Show
Your Income Is Your Greatest Wealth Building Tool
All right, before we get to the phones, one other quick thing here. because I take issue with what you said. I would like to come in Monday, and I told our super producer David this in a meeting, and he agrees, and he's one of the nicer people on the planet. So I tend to feel confident about this position. If someone says Happy New Year to me come Monday, I'm going to pass.
The Ramsey Show
Your Income Is Your Greatest Wealth Building Tool
I'm just going to go, hey! How you doing? Hey. I couldn't stomach the social awkwardness. Well, I think if you let it sit and don't respond at all, it's weird. But just try it. Say Happy New Year to me like it's Monday. Hey, Happy New Year, Ken. Hey, man. What's going on? How was the holiday?
The Ramsey Show
Your Income Is Your Greatest Wealth Building Tool
So I wanted to model this for everybody. Now you're trying to get me to go into the past. No, I'm not. Instead of moving to the future. I'm having what would be normal conversation. I don't have to respond in kind. You don't care about what happened over the holidays. I'm going to suggest that you don't care about how happy my new year is. I would agree with that.
The Ramsey Show
Your Income Is Your Greatest Wealth Building Tool
That's how we exist in a society, Ken. There it is. I hope we've set some of you free. If you see me in public. Don't say it. On Monday and you say happy new year to me, understand I'm changing the lane. I'm changing directions. I'm not going to say it. And I feel very good about it. I hope you get trolled come Monday with so many happy new years. Well, here's what's great about the trolling.
The Ramsey Show
Your Income Is Your Greatest Wealth Building Tool
For all you people who disagree with me and you're taking shots at me in the YouTube comments, I'll never know because I don't look at them. I will send them to you. I will mail them to your home address. George, on the other hand, is in the comments. I sleep peacefully at night.
The Ramsey Show
Your Income Is Your Greatest Wealth Building Tool
And I won't look at them. If I see a shot of text come through, George, I'm going to ignore it.
The Ramsey Show
Your Income Is Your Greatest Wealth Building Tool
All right, here we go. Fort Myers, Florida. Aaron is on the line. Aaron, how can we help?
The Ramsey Show
Your Income Is Your Greatest Wealth Building Tool
You get today and tomorrow's show. Don't make me hang up this phone. I'm not going to. I said I'm going to be a man of my word. Happy New Year, Aaron. And everybody can tell I can mean that. All right, Aaron. What's the call?
The Ramsey Show
Sacrifice Now To Secure Your Financial Future
There are just always going to be companies, small businesses who need somebody like you who could wear a lot of different hats, as George pointed out, but you're just so valued because of your ability to come in and take details and what might be a bit of a mess and clean it up. Does that still feel right to you?
The Ramsey Show
Sacrifice Now To Secure Your Financial Future
What's that? Hell or high water. I'm not even sure you understand it.
The Ramsey Show
Sacrifice Now To Secure Your Financial Future
There is. That's all I know. And neither one are good choices. I like that. You gotta make something happen.
The Ramsey Show
Sacrifice Now To Secure Your Financial Future
Okay, so that's the narrative. That's the mental language you need to be using for yourself as you begin to start looking aggressively. I'm assuming you're looking for other jobs right now, given that you feel you're being quiet-fired.
The Ramsey Show
Sacrifice Now To Secure Your Financial Future
Hey, how many of you out there are tired, exhausted about the paycheck-to-paycheck style of living? You just want to get out of it. The hamster wheel is just wearing you out. If that's you, you've got to listen. This is an opportunity, a low, low effort, but high return. It's a free budgeting training this month.
The Ramsey Show
Sacrifice Now To Secure Your Financial Future
This is the Ramsey Show, where America comes to have a conversation about their money, their profession, and their relationships. We're so excited to have you with us alongside the incomparable, the Natalie attire, George Camel. I'm Ken Coleman. The phone number to jump in today is 888-825-7000. 5-2-2-5-8-8-2-5-5-2-2-5. It's Friday, George, and you know. Welcome home. It's good to be back.
The Ramsey Show
Sacrifice Now To Secure Your Financial Future
You're going to learn step-by-step how to make and stick to a budget using every dollar. You can get all your biggest budgeting questions answered in the live Q&A. This is free, folks. Sign up for free at everydollar.com slash webinar, everydollar.com slash webinar.
The Ramsey Show
Sacrifice Now To Secure Your Financial Future
This is the way to kind of just kick the tires and take the pressure off and actually learn how to do the one thing that will change your financial life. So check it out. We'd love to see you there. Joe is up next in San Diego, California. Joe, how can we help?
The Ramsey Show
Sacrifice Now To Secure Your Financial Future
All right. Before we dive into that, and I'll defer to George on this one, but I I'm curious, is there not a market value range of salary that you already aware of? And then, and then are you asking this question in the context of that?
The Ramsey Show
Sacrifice Now To Secure Your Financial Future
In other words, you know, the range of what, uh, the market says you should pay somebody with his experience or his or her experience and skill, or are you just sticking your thumb in the air?
The Ramsey Show
Sacrifice Now To Secure Your Financial Future
What do you mean by starting something?
The Ramsey Show
Sacrifice Now To Secure Your Financial Future
I like it. I think it's both and, though. In other words, if we can find something here soon – to create a bridge for you. In other words, no interruption in payment.
The Ramsey Show
Sacrifice Now To Secure Your Financial Future
I get that. Let me jump in here because I really appreciate your heart. You're a good dude. And I love the spirit by which you're entering into this decision. However... You've already pointed out that he was paying himself too much based on the business. And I understand you already have an existing business.
The Ramsey Show
Sacrifice Now To Secure Your Financial Future
But as you talked to us today, you have a pretty good idea, the market value you told us, but you also have a pretty good idea about what's a healthy number and anything above that is you doing charitable work. True?
The Ramsey Show
Sacrifice Now To Secure Your Financial Future
What's the max number? Forget anything that he tells you in the days ahead as you dig into his finances or the way George told you.
The Ramsey Show
Sacrifice Now To Secure Your Financial Future
That's right. And so what I'm getting at is what's the max number that's not charitable?
The Ramsey Show
Sacrifice Now To Secure Your Financial Future
Yeah, you can't justify a nickel beyond that, true or false? That's true. Well, then that's the number.
The Ramsey Show
Sacrifice Now To Secure Your Financial Future
We get out of the current situation that we're in and then we get stable by just walking right to something else and then begin to contract yourself out and build that to where you can be very, very successful over the next eight, ten years. And I want George to jump in here on the on the retirement question. But one other quick question. What makes you feel like you're being quiet fired?
The Ramsey Show
Sacrifice Now To Secure Your Financial Future
Correct. So, Joe, that's why I'm jumping in here to say, if you pay him any more than the number you just gave us, and he doesn't make any changes at all, and there's a good chance that he won't make any changes, correct? Yeah, there's a good chance. That's what I'm worried about. Guess what happens? You become resentful. Yeah.
The Ramsey Show
Sacrifice Now To Secure Your Financial Future
And then this whole thing just becomes a negative taste in your mouth, just a nasty taste. So... the max number that you've already, that's it. Don't go beyond that. Now, you can incentivize him. As the business grows. As the bottom line grows, so can his income. Yeah, but it is what it is, my friend. So don't go any more than that.
The Ramsey Show
Sacrifice Now To Secure Your Financial Future
And for that reason, George, I'm going to come back to what you already said, and I wouldn't be digging in too much to this guy's stuff.
The Ramsey Show
Sacrifice Now To Secure Your Financial Future
Love that. Got to be careful, George, in trying to be kind that we don't make bad business decisions on a personal decision, and it ends up affecting the personal. You've got to have some boundaries based on kindness, but also good common sense for your business. Great stuff there. Thanks, Joe, for the call.
The Ramsey Show
Sacrifice Now To Secure Your Financial Future
It's time for our Why Refi Ramsey Show question of the day. If you're buried in defaulted private student loans, you're not alone. You can reach out to Why Refi to see if they can build a custom plan to help dig you out. Visit whyrefi.com slash Ramsey today. That's Why Refi, Y-R-E-F-Y dot com slash Ramsey. It may not be available in all states.
The Ramsey Show
Sacrifice Now To Secure Your Financial Future
Yeah, I'm not sure why... That has to be the scenario. I'm curious to know what you think here. I'm wondering if, okay, we've got the tickets. Can we go, you know, is this a thing where we pause the debt snowball and we save up for a cheap vacation? In other words, bologna sandwiches, we're staying at a discount hotel, a George Camel special, or is it, sorry...
The Ramsey Show
Sacrifice Now To Secure Your Financial Future
You're, you know, cause this is the Dave. I hear Dave right now going, you're not going on vacation.
The Ramsey Show
Sacrifice Now To Secure Your Financial Future
I see you in their kitchen, George, coming up with a super saver vacation to use these tickets. Don't I see you doing that?
The Ramsey Show
Sacrifice Now To Secure Your Financial Future
That gives me a headache, but you actually figured that out. If we go stay with family.
The Ramsey Show
Sacrifice Now To Secure Your Financial Future
I tried to find some middle ground here, find a compromise. I think you did. I think you went beyond compromise. In exchange, you're staying with the family. That is an exchange. You're staying with Uncle Larry and Aunt Mildred, but they got two extra bedrooms. They're empty nesters. They got some parks and stuff around their house. I think the kids can make it fun. Yeah.
The Ramsey Show
Sacrifice Now To Secure Your Financial Future
Let's go to Toronto, Ontario, where Bethany is waiting. Bethany, how can we help?
The Ramsey Show
Sacrifice Now To Secure Your Financial Future
Yeah, I'm so sorry, Alex. And here's what I want you to hear. The good news, this is all bad news, except there's one little silver lining in this, I'm gathering. And the silver lining is that they're not brave enough to actually fire you. They're cowards. And you're still, and they're not hampering you from doing your job, correct? Did I pick up on that?
The Ramsey Show
Sacrifice Now To Secure Your Financial Future
I agree, and I think that number could change, the 10 years, right? I'm assuming she was on her own on that deal, so I don't know. That's true. Hopefully she can get that down payment a lot sooner than that.
The Ramsey Show
Sacrifice Now To Secure Your Financial Future
So, Alex, here's the deal. This sucks. I'm not going to try to put lipstick on a pig here. This sucks. This speaks to why I'm in the work that I am, because this is an example, folks, of what it feels like when you aren't valued at work. It's soul-sucking. It leads to burnout because you're a human being. All of this sucks. But the one piece of good news is they're not pushing you out.
The Ramsey Show
Sacrifice Now To Secure Your Financial Future
This is The Ramsey Show, where America hangs out to talk about their money, their work, and their relationships. 888-825-5225 is the phone number. I'm Ken Coleman. George Campbell joins me. And we're going to go to Jake, who's joining us in Las Vegas. Jake, how can we help?
The Ramsey Show
Sacrifice Now To Secure Your Financial Future
Well, you're going to get to do it. Okay. Super quick question. What's your income? We know hers, or what it's going to be. What is yours? So I'm making pretty good money. I'm making about $90 right now. And she's going to be in the $130 to $150 range?
The Ramsey Show
Sacrifice Now To Secure Your Financial Future
And as long as you don't rock the boat, I think they'll probably just wait you out. So let's play their game. So let's flip this thing. And now you do your job. But you are every extra second you have at night, you are now treating a full-time second job as getting the next gig and do exactly what the advice that I gave you. But I want to, you got what I'm saying?
The Ramsey Show
Sacrifice Now To Secure Your Financial Future
Well, it's simple. It's simple. You guys are roommates. You guys are roommates. You're not married.
The Ramsey Show
Sacrifice Now To Secure Your Financial Future
So what's her long-term income possibility?
The Ramsey Show
Sacrifice Now To Secure Your Financial Future
Are you thinking about marrying this girl?
The Ramsey Show
Sacrifice Now To Secure Your Financial Future
Well, I'm just curious. America is also wondering. Jake with the Heisman. He stiff-armed us. Yeah. Hey, look, you're right. You did call in for financial advice, but guess what's involved in finances?
The Ramsey Show
Sacrifice Now To Secure Your Financial Future
He didn't call in for relationship advice. One man's take. No, more than fine. Jake, I'm just having fun with you. It's Friday. I like to have a good time. Here's the deal. I hope she's on the same page as you because with the plan that you've given us, there's a good possibility. She starts making really good money as a PA, and you guys aren't combined finances, so you don't get a say.
The Ramsey Show
Sacrifice Now To Secure Your Financial Future
And she starts to get a credit card here or a car payment there. That's why I'm saying, that's why we like the marriage play on this. If we know it's a foregone conclusion, it just makes a whole lot more sense. And if not, you're going to have to have some real boundaries financially in order that it doesn't hurt you relationally. Do you understand what I'm saying? Yeah, that makes sense.
The Ramsey Show
Sacrifice Now To Secure Your Financial Future
Aggressive. Aggressive. And don't worry. Don't try to fix this situation. It's not fixable. But let's take advantage of it in that they're not pushing you out. And I gave you what I think your next steps are. But I want to bring George in for the retirement question because, George, I don't want her to get panicked in this situation.
The Ramsey Show
Sacrifice Now To Secure Your Financial Future
60 she does 40 and we'll let her tackle more of that debt no that's going to be oh that's so goofy do you hear how goofy that sounds it's 50 50 that's what i said seven or eight minutes ago i haven't changed my mind have you changed your mind no although i am i'm just picturing you saying hey you make 40 more than me i think you should pay 40 more of the bills too i'd like a video of that you could send it to me so i have something to watch when i get bored during the day that's going to be fun that could go viral jake if you're in that scenario yeah
The Ramsey Show
Sacrifice Now To Secure Your Financial Future
There's a wedding chapel on every corner. It's kind of like a church in the South. There's wedding chapels everywhere. God bless. Get her a ring, man. We're going to put that off. We're going to talk about our future together. He said, marriage aside. We're going to put that one. We're going to talk about our future.
The Ramsey Show
Sacrifice Now To Secure Your Financial Future
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The Ramsey Show
Sacrifice Now To Secure Your Financial Future
I want you to give her some coaching here on how she can prepare and where she's at. Give us a sense. Give George a sense where you're at today in retirement.
The Ramsey Show
Sacrifice Now To Secure Your Financial Future
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The Ramsey Show
Sacrifice Now To Secure Your Financial Future
That's fieldofgreens.com slash Ramsey. And save 20% on your first order.
The Ramsey Show
Sacrifice Now To Secure Your Financial Future
Hello. We lost you. Zachary? We do not have a moral dilemma. We have a technology dilemma. I was so excited. I was, too.
The Ramsey Show
Sacrifice Now To Secure Your Financial Future
He was sounding good until he wasn't. I appreciate that very much. All right. Well, while we're trying to get him, this is a good time to talk about it. You and I were talking about it during the break. You're getting ready to move. Got a new home. We just love to move.
The Ramsey Show
Sacrifice Now To Secure Your Financial Future
Every thousand days, just up and move. Yeah, well, a lot of people are thinking about buying or selling. George just started his process of selling, and we always recommend don't do that on your own. It's such a massive, massive financial decision. We want to make sure that you understand what's going on in the market and the latest trends. Make sure that you understand them.
The Ramsey Show
Sacrifice Now To Secure Your Financial Future
Median home prices, for example, George, went up slightly last month to about $430,000. More homes are on the market, nearly 1 million. That's the highest since 2019, so there's no longer an inventory issue. The average 15-year fixed rate rose to 5.9% last month. So the point is, if you're financially ready, don't worry about what's going on in the market.
The Ramsey Show
Sacrifice Now To Secure Your Financial Future
But we want to make sure that you know what's going on in the housing market trends and get some free tools to help you buy or sell. And we've created a wonderful website for you, ramsaysolutions.com.com. ramseysolutions.com slash market. All right. Let's see. We got to look at that. You see what I did there? I helped people out with some good real estate information.
The Ramsey Show
Sacrifice Now To Secure Your Financial Future
And in the interim, we got Zachary back on the line. Zachary with the moral dilemma. Are you there? Hey, yeah, can you guys hear me? Oh, that's so good. All right, lay it out. George and I have our fake robes on, our judge's robes and powdered wigs. What's going on?
The Ramsey Show
Sacrifice Now To Secure Your Financial Future
Yeah. So, Zachary, let me put the question to you, okay? Because you actually said this at the beginning of the call. And I paraphrase here, if I can remember how you said it. But you said, is it a moral dilemma or I have a moral dilemma because I'm selling a product that I do not believe in? So you tell me. Is that immoral? Yes or no? It sounds pretty immoral. It's not so much that it's immoral.
The Ramsey Show
Sacrifice Now To Secure Your Financial Future
It's not like you're selling an illegal product. You're not selling drugs. I don't think it's immoral. That's why I'm putting it to you that way. Let me put it this way. Do you think that you can thrive... And I mean, not just financially thrive mentally and emotionally when you are selling a product that you don't think is a good product. Yes or no.
The Ramsey Show
Sacrifice Now To Secure Your Financial Future
It's eating away at your soul. So the answer to the question is not for George and I to answer. The answer is for you to answer. What's the answer? Say it. Yeah, just to be done. Be done.
The Ramsey Show
Sacrifice Now To Secure Your Financial Future
When do you leave for overseas to play ball?
The Ramsey Show
Sacrifice Now To Secure Your Financial Future
I agree. I agree. And so the next question is financial for me. Do you start getting paid already on the contract for the overseas team or is that not? No, I won't get paid until probably September. How much money do you need to stay afloat between now and getting paid in September?
The Ramsey Show
Sacrifice Now To Secure Your Financial Future
Yeah, we do. Yeah, then go do some side projects. If you're just looking to bring in some cash, just go do something. You're in this really interesting season, man. What are you going to make as a professional basketball player?
The Ramsey Show
Sacrifice Now To Secure Your Financial Future
two or three grand a month but there's no expenses either and so it's it's know how your house your car food I would walk away then from this whole life stuff that you don't feel good about and enjoy these next few months that's all you got it's going to be over like that if you want some extra spending cash go do something that's just super part-time and easy you know for sure yeah hey question and you may not feel comfortable telling me that's okay where'd you play ball
The Ramsey Show
Sacrifice Now To Secure Your Financial Future
Good for you, man. Well, man, that's exciting. You're going to have a season of life, a young married couple over in Europe playing basketball. That's not a bad gig. And hopefully you stay healthy and can start cashing in on a big contract or so. And go for it, man. But do what's right. That's the thing. And you're determining what's right. I don't get to tell you what's right.
The Ramsey Show
Sacrifice Now To Secure Your Financial Future
You got it, George. I love the way you said it because the bottom line is if you're selling something that you don't believe in, it will eat away at you. There's just no question about it, and it's not worth the exchange.
The Ramsey Show
Sacrifice Now To Secure Your Financial Future
Yeah, really good stuff. All right, George, I'll explain to you what basketball is. And, you know. Alley-oop. That's a move. Okay, you got that one. Very nice. All right. Keep it up, buddy.
The Ramsey Show
Sacrifice Now To Secure Your Financial Future
Entree Leadership Summit, our signature leadership event, always fun and just a joy. So let's get right to it, shall we? Alex is in Seattle, Washington. Alex, how can we help today?
The Ramsey Show
Sacrifice Now To Secure Your Financial Future
Let's go to Laura in Columbia, Missouri. Laura, how can we help today?
The Ramsey Show
Sacrifice Now To Secure Your Financial Future
Oh, wow. That feels like pressure Ken. So, so like he's already sort of okay with it, but you need our final stamp of approval and you're hoping that that gets him on board.
The Ramsey Show
Sacrifice Now To Secure Your Financial Future
Oh, boy. Oh, boy. You know what? I got no problem getting in the middle of this one. What do you think, George?
The Ramsey Show
Sacrifice Now To Secure Your Financial Future
All right. So you got to give us the details. So let's cut right to the most important part of it here. When you've done the budget, because we don't have time to go line by line. So when you do the budget... what does that show us? And we're looking for what surplus do you have after you've paid all the bills? And then tell us what baby step you guys are on.
The Ramsey Show
Sacrifice Now To Secure Your Financial Future
Again, kind of give us a quick picture there.
The Ramsey Show
Sacrifice Now To Secure Your Financial Future
How much tight? Like what would be left over?
The Ramsey Show
Sacrifice Now To Secure Your Financial Future
And I can't remember if you told me. I apologize. What baby step are you on?
The Ramsey Show
Sacrifice Now To Secure Your Financial Future
Great. And you have a fully funded emergency fund?
The Ramsey Show
Sacrifice Now To Secure Your Financial Future
Way to go. That's fantastic. Congrats.
The Ramsey Show
Sacrifice Now To Secure Your Financial Future
I have a couple more questions and I'll be ready to rule. I think George is probably already ready over there. I see him. No, I'm hesitant. You're hesitant. Okay. I got a couple of questions that may help judge George. Okay. All right. How much does he make right now just in his trade job, his main job?
The Ramsey Show
Sacrifice Now To Secure Your Financial Future
Okay, great. And what were you making? Let's assume you're already gone. So what has been your salary? $50,000. So we're taking a $50,000 hit. My question is, with you doing the, what'd you call them? Saturdays? What'd you call it?
The Ramsey Show
Sacrifice Now To Secure Your Financial Future
Side job Saturday. I love that. Are the side jobs that both of you are going to continue to do, are they included in the budget number that you gave us?
The Ramsey Show
Sacrifice Now To Secure Your Financial Future
What about his side hustle stuff? What will that generate?
The Ramsey Show
Sacrifice Now To Secure Your Financial Future
And that's not included in the numbers you gave us?
The Ramsey Show
Sacrifice Now To Secure Your Financial Future
So in all reality, it's reasonable to assume that from your budget alone, just going down to one income, you're going to have, let's call it $300 of surplus a month after everything's taken care of, and then we add his $1,000, so we're going to be in the black, let's say $1,300 a month. Mm-hmm. Okay. Okay. That to me, I'm okay with it. I'm fully okay now.
The Ramsey Show
Sacrifice Now To Secure Your Financial Future
Because what I was going to suggest is how could he make an additional $50,000 a year professionally? And the fact that he's blue collar, but he's kind of in the trades, I think there's very reasonable expectation that he can do that. And if you were to get close to replacing your 50 in the first 12 months, to me, that's a no-brainer. But I'll see what Judge George thinks.
The Ramsey Show
Sacrifice Now To Secure Your Financial Future
He's over here quietly tapping his pen.
The Ramsey Show
Sacrifice Now To Secure Your Financial Future
And you know you have a green light for me already. And I would also add that you will not regret this decision to come home. If you change your mind, you can always go back to work. But you'll never get this time back with those little ones. And listen, I'm speaking as a guy who I'm watching my kids grow so fast, it's freaking me out.
The Ramsey Show
Sacrifice Now To Secure Your Financial Future
You know, I got a kid who just finished his freshman year in college, and I thought I was changing his diaper yesterday. It goes fast. Yeah, that's the biggest thing. And I'm going to also say this. And by the way, my mom was a working mom and my wife has worked during many years of our kids' lives. So I don't want what I'm about to say to get misinterpreted because that happens in today's age.
The Ramsey Show
Sacrifice Now To Secure Your Financial Future
So I'm going to say this as clearly as I can. I am pro-women who want to work for financial reasons or professional reasons. Love it. But I also think that the greatest job in the world is a stay-at-home mom. And I applaud you. Give it a shot. So is your husband listening in right now, or is this we're going to tell him this later?
The Ramsey Show
Sacrifice Now To Secure Your Financial Future
Come on, Mama. I love it. I think that's fantastic. George, really quick, because we've got about a minute and a half with her. I'd love for you to give her some advice on what to do with that pension and maximize that. Oh, absolutely.
The Ramsey Show
Sacrifice Now To Secure Your Financial Future
Yeah, Laura, so, so excited for you, and you're going to be great at home. It's going to be great. Tell the husband. It's going to all be okay. It's natural for him to be worried about losing an income, but it'll replace itself. Glad we got to make that decision. I think that was the right thing. Yeah. For two random guys to do. Two random guys, yeah. To rule on it.
The Ramsey Show
Sacrifice Now To Secure Your Financial Future
All right, folks, thanks so much for being a part of our audience. We do this for you and we need your help. You know, the show is continuing to grow new audiences. And so wherever you're partaking of the show, if it's on YouTube, we'd love for you to subscribe, like and share. And if you're listening to a podcast, give us a follow. And share as well. Subscribe because that helps us grow.
The Ramsey Show
Sacrifice Now To Secure Your Financial Future
You know how the algorithms work. I don't, but that's what they tell me. So we would appreciate that. We don't want to hurt Ken's head. We do not. It's easy to do, George. Say things like algorithm and I just start to get verklempt. Keep Ken out of it. Start crying. It scares me. Aaron is up in Columbus, Ohio. Aaron, how can we help?
The Ramsey Show
Sacrifice Now To Secure Your Financial Future
That's no big, that's no small thing there. That's huge.
The Ramsey Show
Sacrifice Now To Secure Your Financial Future
Yeah, real quick, I wanted to jump in, George, and ask, how much is the rental house worth, and how much do you owe on it? Tell that real quick.
The Ramsey Show
Sacrifice Now To Secure Your Financial Future
Yeah, it stinks, but you got to move on. So, you know, you're okay. This is not a devastating play for you. And it does stink, though. So sorry about that. Yeah, I will grieve with you on that one. Yeah, absolutely. That one stings. Ruby is up next in Washington, D.C. Ruby, how can we help?
The Ramsey Show
Sacrifice Now To Secure Your Financial Future
Okay, tell us more. Why are you wondering about selling your home?
The Ramsey Show
Sacrifice Now To Secure Your Financial Future
George, point blank, would you sell the rental house and stick that into the retirement strategy? That would be my long term play as a worst case scenario. All right. That would definitely hold on to it for now. Yeah. All right. Very good. All right, Alex, listen, get your chin up. Take control of the future right now and find a place where you're valued. It's going to change your life.
The Ramsey Show
Sacrifice Now To Secure Your Financial Future
That doesn't feel sustainable. No, this isn't good. And I wouldn't trust—listen, I don't care who's in the White House. I don't trust the government to move on time about anything. So the two years could stretch into who knows what, throw you guys into a real tough situation. I absolutely would sell the house. And rent, and rent cheap. You guys are in flux because of his work permit.
The Ramsey Show
Sacrifice Now To Secure Your Financial Future
All right, Daniel's next in San Antonio, Texas. Daniel, how can we help today?
The Ramsey Show
Sacrifice Now To Secure Your Financial Future
All right. Well, you're in the right place. George loves tackling multiple lines of credit.
The Ramsey Show
Sacrifice Now To Secure Your Financial Future
What a deal. Wow. So he's got a clean house. It's powered by the sun and his water softener.
The Ramsey Show
Sacrifice Now To Secure Your Financial Future
Yes. You see details and checklists and you go through them like a lawnmower, right?
The Ramsey Show
Sacrifice Now To Secure Your Financial Future
Okay. The reason I stopped and kind of focused on that is I want you to understand how valuable you are in the marketplace right now.
The Ramsey Show
Sacrifice Now To Secure Your Financial Future
Yeah, Daniel, just jumping in real quick, you need to be working as much as you possibly can. So I don't know if that's another restaurant, a better restaurant, adding two restaurant jobs, even if it's picking up two or three shifts. You've got to get more income in here to get some momentum. Okay.
The Ramsey Show
Financial Chaos Can Derail Your Future
It's true. Every dollar allows you to see where you are, and then you can start making changes. But the problem is when you don't know where you are, and what we felt in her was this, I just don't know where any of it's going, and I don't know, and I don't know. And here's what we know about just human psychology, when the scariest thing is the unknown.
The Ramsey Show
Financial Chaos Can Derail Your Future
And so every dollar allows me to actually, for the first time, go, oh. That's where I'm spending money.
The Ramsey Show
Financial Chaos Can Derail Your Future
Well, first of all, congratulations on getting offered your dream job. Let's not just cruise past that. How did that come about?
The Ramsey Show
Financial Chaos Can Derail Your Future
Okay. But I'm guessing there's room for growth here with this new job?
The Ramsey Show
Financial Chaos Can Derail Your Future
Yeah, okay. Well, first of all, congratulations. So my answer to this is always the same, and it's really simple. I want you to put yourself in your boss's position. And I want you to, in your mind, you just kind of role play that out. How would you want you to come say, hey, listen, I've only been here four months, but I got a past relationship with this surgeon. An opportunity was there.
The Ramsey Show
Financial Chaos Can Derail Your Future
I reached out. It's my dream gig. I'm sorry to put you in this lurch and do this at this point four months in, but this is an opportunity that I have to take. I mean, that's your reasoning. You don't have to explain that away, but how would you say that in a way that is humble and
The Ramsey Show
Financial Chaos Can Derail Your Future
filled with gratitude, certainly sensitive to the fact that, hey, you're leaving only four months in, but you don't owe them a certain amount of time. What you owe them is your best, and I don't think you'd ever be able to give them your best if you turn this opportunity down. And so if you have that mindset, how would you want someone to handle it with you?
The Ramsey Show
Financial Chaos Can Derail Your Future
That's the best way to go, because I know you're a person of character and a person of class.
The Ramsey Show
Financial Chaos Can Derail Your Future
Sometimes profession gets in the way of people stuff. And I love the way Dave said that. I think he gave you a great perspective from the leader's perspective. Just be a good person. And you are a good person. That's why you called. There's a sense of guilt. I get this call a lot on the Ken Coleman Show, Dave, and people feel guilty because they're good people.
The Ramsey Show
Financial Chaos Can Derail Your Future
But if you're not doing anything ethically wrong... and you're not doing anything illegal, then guilt shouldn't enter the equation.
The Ramsey Show
Financial Chaos Can Derail Your Future
I'm curious, Josh, what does your fiance think? How does she feel about this? Is she completely in line with the parents or does it make her feel weird? What's going on here?
The Ramsey Show
Financial Chaos Can Derail Your Future
You're not answering my question, and you're being really nice because you're a classy dude. I'm going somewhere with this. How does she feel about it? When it came up, what was her comment on this deal?
The Ramsey Show
Financial Chaos Can Derail Your Future
My point is it wasn't a head tilt or a red flag or yellow flag. It was just like, oh, okay. Is that what I'm hearing? She does what she's told.
The Ramsey Show
Financial Chaos Can Derail Your Future
That makes this relationally a little bit more difficult. Had she had the same feeling, the yucky feeling you had, I assume you have a yucky feeling about it? Or am I making the wrong assumption?
The Ramsey Show
Financial Chaos Can Derail Your Future
I'm involved in the decision. I think this ought to be premarital counseling. I bring it up with your fiance.
The Ramsey Show
Financial Chaos Can Derail Your Future
What would you do right now if you could just snap your fingers with the skill set you have, knowing your industry that would pay you the most? What would that be?
The Ramsey Show
Financial Chaos Can Derail Your Future
And so you've got to play, you've got to think through that. What is her concern? What's her big concern? Because I agree with Dave, you can absolutely do that. I would be working in some trades and I'd ease into it a little bit based on what's happened, but I want to know what she's so worried about.
The Ramsey Show
Financial Chaos Can Derail Your Future
He really does. In great financial shape, minus the insurance issue.
The Ramsey Show
Financial Chaos Can Derail Your Future
We're seeing more and more of this, and I'm not picking on Ben, but I do want to say this.
The Ramsey Show
Financial Chaos Can Derail Your Future
There's two things that are going on. Number one, he's got the analysis paralysis situation, but he also, along with the fear of change, is how comfortable he is at mom's house. And that can just keep you, because you can justify staying, By using the numbers. And I think you've got to be realistic. How much of this is, I'm just afraid to kind of go out and start adulting.
The Ramsey Show
Financial Chaos Can Derail Your Future
That wasn't even a term 10 years ago, and I hate saying it. I'm a little embarrassed that I even uttered it.
The Ramsey Show
Financial Chaos Can Derail Your Future
A great callback. But yeah, I just think we've got too many young 20-somethings that are just terrified of change.
The Ramsey Show
Financial Chaos Can Derail Your Future
Reminds me of that movie with Matthew McConaughey, Failure to Launch.
The Ramsey Show
Financial Chaos Can Derail Your Future
This is exciting, folks. Dave Ramsey with a strong opinion on a rom-com.
The Ramsey Show
Financial Chaos Can Derail Your Future
You're right. The quality of the script writing was low. I'll give you that. But when Stacey wants to see it, I say, okay.
The Ramsey Show
Financial Chaos Can Derail Your Future
Wow. I got to tell you, my mom sold furniture, was a manager of a large furniture chain for 35 years. And if you can make that kind of money in furniture, those margins aren't that high. You've got a lot of options in front of you right now, a lot. And you've got to stop job boarding and you've got to start having coffee with people that you know, civic clubs, churches, you know people.
The Ramsey Show
Financial Chaos Can Derail Your Future
And look, you can sell anything. You're not a guy who's stuck in an industry. In other words, You aren't just effective in the furniture industry. You know a product. You know a service. Not only can you sell it, Joe, but you led a team of people.
The Ramsey Show
Financial Chaos Can Derail Your Future
Yeah. I got a friend who's a former college football player. I'm not knocking football players. He's advising surgeons on orthopedic devices in the operating room. Not because he's a genius, because they trained him on the devices. Dave's right. You don't need anything other than a willingness to learn and basic intelligence, and you have both of those in droves.
The Ramsey Show
Financial Chaos Can Derail Your Future
Today's question comes from Andre in Indiana. I'm being managed out of my job at my current employer. When I realized what was happening, I got ahead of it and have turned in my resignation. so I won't have a termination on my employment record. I have several interviews lined up, and I'm not worried about finding another position.
The Ramsey Show
Financial Chaos Can Derail Your Future
My question is, how should I approach obtaining a letter of reference from my current employer should I need it? Well, you're going to approach it now before you leave the building, number one. Number two, you're going to approach it with some gratitude and humility.
The Ramsey Show
Financial Chaos Can Derail Your Future
and just say, hey, I appreciate this opportunity to be here, and I would love if you feel comfortable being a reference for me and give me a reference letter upon request. Are you comfortable with that? It's just a man-to-man conversation or man-to-woman conversation, and that's about all you can do there, and hopefully you've left well.
The Ramsey Show
Financial Chaos Can Derail Your Future
We don't know what the situation here is, but I'm such a proponent for people leaving well.
The Ramsey Show
Financial Chaos Can Derail Your Future
Even if you feel like you're not supposed to be there anymore, even if you feel like you've got some tension, you feel like maybe it wasn't the best situation for you, leaving well and not burning that bridge is always the right way to go because you have to assume that any future employer is going to call your past employer.
The Ramsey Show
Financial Chaos Can Derail Your Future
And so humility and gratitude and class would be the three ingredients in the ask. And, by the way, with every remaining second you have at that place before you leave, act with class.
The Ramsey Show
Financial Chaos Can Derail Your Future
I didn't realize that. That's good for me to know. I did not.
The Ramsey Show
Financial Chaos Can Derail Your Future
Yeah, and I hope he has, he saved some money. I hope he also has some write-offs and records of that kind of stuff so that he can, you know. The better your records, the more you can limit this. Yes, that's exactly right. Write-offs and records. Tax Pro here is huge, though. Do not try to figure this out on your own.
The Ramsey Show
Financial Chaos Can Derail Your Future
So if I were coaching Andre, I would ask a lot of detailed questions. What does that actually mean? And to the best of my ability. be able to discern, well, you're not being managed out, or maybe you are. Now, what it's going to look like in this case, if we're assuming what he's saying, is that someone is basically making you as uncomfortable as possible, not in a way of leading you,
The Ramsey Show
Financial Chaos Can Derail Your Future
for growth and having an uncomfortable conversation with your growth in mind, but actually being a turd to you to get you to quit because they don't want to fire you. Does that happen? It does. But in this case, that's bad leadership. So I would be asking enough questions to find out what's really going on. And to your point, if they are holding you to a standard that they hired you to keep,
The Ramsey Show
Financial Chaos Can Derail Your Future
You aren't being managed out. You're being held accountable for what they're paying you for. So I would be diving into what's really going on and then coaching from there. And in many cases, and I'm going to say this. Just because you're uncomfortable. That's right. Doesn't mean you're being managed out. That's correct. Or held to a standard. Right.
The Ramsey Show
Financial Chaos Can Derail Your Future
And so what we've got to determine, we're seeing this a lot with the younger generation, accountability is really, really hard.
The Ramsey Show
Financial Chaos Can Derail Your Future
Yeah. You have to reframe that. It's not creating stress, right?
The Ramsey Show
Financial Chaos Can Derail Your Future
You know, the metaphor I would use here, Dave, is are you being coached or are you being mistreated? There you go. And a coach, and I usually return to sports because I grew up playing sports.
The Ramsey Show
Financial Chaos Can Derail Your Future
Yeah, you know, I watch these NFL training camps. These are millionaires, and the coach is pulling them off the field, and they are coaching them up. They're getting out those little Microsoft pads on the sideline, and they're showing these young quarterbacks that are franchise quarterbacks. Here's what you did wrong on this interception. That's not mistreating that kid.
The Ramsey Show
Financial Chaos Can Derail Your Future
That is coaching that kid on what they expect of them because they're paying them millions of dollars a year. And the same metaphor holds true in the workplace. Is your leader coaching you or are they mistreating you?
The Ramsey Show
Financial Chaos Can Derail Your Future
A quarterback feels really uncomfortable when he runs off the field after throwing an interception because there's 75,000 people that are mad at him and his head coach. But guess what? That's the price of admission.
The Ramsey Show
Financial Chaos Can Derail Your Future
It feels very victim. I felt the same thing when I saw it, you know?
The Ramsey Show
Financial Chaos Can Derail Your Future
And by the way, don't ask them for grace either because they don't have any. This is Get Your Tax Pro to help you evolve communication.
The Ramsey Show
Financial Chaos Can Derail Your Future
It's like from Christmas Vacation. She died 10 years ago. 10 years ago. Yeah, they're just not going to be kind, and a tax pro here is going to be your advocate, and they know everything that they can do. They're worth it. So don't try to navigate this on your own.
The Ramsey Show
Financial Chaos Can Derail Your Future
Yeah, what I heard is someone who's being reactive instead of proactive. And the power in writing it down and creating this budget, Omar, what Dave's telling you is right. When you look at just that exercise where he said, all right, let's start with what's coming in. You guys have got to write down what's going out.
The Ramsey Show
Financial Chaos Can Derail Your Future
And when you begin to get intentional, proactive versus reactive, you guys are letting every day come at you. And I don't think you have a plan at all. And it's just overwhelming.
The Ramsey Show
Don’t Wait for Someone Else To Fix Your Life
I hate to admit this, but I don't always eat right. I know, I need to eat more fruits and veggies, but sometimes I just have to pound some chips because they taste so good. That's why I love my Field of Greens. It helps me eat healthy when I don't have much time. And each fruit and vegetable in Field of Greens was doctor selected for a specific health benefit.
The Ramsey Show
Don’t Wait for Someone Else To Fix Your Life
Heart, lungs, kidney, metabolism, even healthy weight. And folks, I ain't getting any younger. It's super easy to mix with water. And here is the great part of it. I thought it might taste like grass, but it tastes great. And only Field of Greens makes this promise. Your doctor will notice your improved health or your money back.
The Ramsey Show
Don’t Wait for Someone Else To Fix Your Life
So go to fieldofgreens.com slash Ramsey for 20% off your first order. That's fieldofgreens.com slash Ramsey to save 20% on your first order.
The Ramsey Show
Don’t Wait for Someone Else To Fix Your Life
Okay. What'd you spend on the four-wheeler?
The Ramsey Show
Don’t Wait for Someone Else To Fix Your Life
I'm curious to know if there was any pressure that you felt at any time or your wife felt at any time to, A, borrow $80,000 from them to then get a pre-mod trailer and put it on their property. Was there pressure there, or was it just they threw it out? You guys love the idea.
The Ramsey Show
Don’t Wait for Someone Else To Fix Your Life
Yeah, Dave, he's been sufficiently burned. I'll offer some salve. I got permission. No, you're right. No, you couldn't be more right. I just can't add anything to it other than to say this. Walk away from this to realize it could have been way worse. and this thing can get nastier if you don't fix it now. And I could not say that enough.
The Ramsey Show
Don’t Wait for Someone Else To Fix Your Life
You can dig out of this, but I would start digging quickly and make all these changes. And you'll look back on this and go, I'm glad I did it.
The Ramsey Show
Don’t Wait for Someone Else To Fix Your Life
Well, Dave, this makes me think of the classic line in the wedding vows, leave and cleave. There is a psychological reason for doing that. There's wisdom in that phrase. Not living on their land.
The Ramsey Show
Don’t Wait for Someone Else To Fix Your Life
Today's question comes from Brianna in Washington, D.C. Can you explain how President Trump's new executive order on tariffs will affect me at a personal level? Well, my answer will be based on if the tariffs stand. Right now, there's been an extension.
The Ramsey Show
Don’t Wait for Someone Else To Fix Your Life
If you're paying attention to the news, President Trump mentioned the tariffs would take place, Canada, Mexico specifically, and then they responded, their governments responded, and so now there is a, we'll call it a waiting period to see how this plays out. But if the tariffs were to go into place... And I'm just going to be honest.
The Ramsey Show
Don’t Wait for Someone Else To Fix Your Life
So if this offends you folks, honesty is what I'm going to go with. Tariffs will affect us. There's no question. Even President Trump has said, and I quote, that prices will go up. There's no question that that's how tariffs work. Even though a tariff is placed on a foreign country, that is on the goods and stuff that they would, of course, export to American companies.
The Ramsey Show
Don’t Wait for Someone Else To Fix Your Life
And so American companies will have to pay the tariff. The idea is to drive American goods, which I'm all for, but there's no question that tariffs are passed on from American companies to American consumers. So it's a long-held economic strategy. Sometimes it works, sometimes it doesn't. We'll see how this plays out. It's too soon to tell because, again, we've got a bit of a moratorium.
The Ramsey Show
Don’t Wait for Someone Else To Fix Your Life
But if they go into place on certain goods and services, you will see an increase in cost. The question is, how much of an increase in costs. And that comes down to the American company that is, again, getting goods from Mexico or Canada. So that's how that works. And I've never seen companies not pass on increased costs to customers across the board.
The Ramsey Show
Don’t Wait for Someone Else To Fix Your Life
Which is why the president came out and said.
The Ramsey Show
Don’t Wait for Someone Else To Fix Your Life
That's right. Here's the flip side of this, because I was on Fox Business talking about it. They asked me what I thought about this. If the president also extends his tax cuts, which will expire later this year. That would help the American consumer in lowering your cost. Of course, you keep more of your paycheck.
The Ramsey Show
Don’t Wait for Someone Else To Fix Your Life
The second thing the president, I think, will do, and we're going to see this soon, is he's going to cut regulation on American businesses. And if you were to lower taxes on American businesses, that also offsets tariffs. So it is, for people who are just hearing the media talk tariffs...
The Ramsey Show
Don’t Wait for Someone Else To Fix Your Life
You've got to look at the whole picture and go, okay, if he does what you're talking about, and he's now going after two countries that we do a lot of trading with, he's going, it's got to be fair. You've heard him use these words. His words, not mine. But if he also lowers taxes on American businesses and lowers regulation...
The Ramsey Show
Don’t Wait for Someone Else To Fix Your Life
then you might see very little, and that would be my hope, and I fully expect him to do that. I see nothing out of his administration that wouldn't do that. In that case, you're not going to feel tariffs in and of themselves by themselves. I think that's what's going to happen.
The Ramsey Show
Don’t Wait for Someone Else To Fix Your Life
Nobody wants to get in a trade war, including President Trump.
The Ramsey Show
Don’t Wait for Someone Else To Fix Your Life
He hasn't changed at all. Now, let's bring this back to everybody else, not just Brianna who asked this question. It's a good question, by the way. I can tell you this. If you're debt-free, And you're working your way through the baby steps. Doesn't matter. Even though it's never fun to have your cost of your household goods or the things that you do go up, you can weather that storm.
The Ramsey Show
Don’t Wait for Someone Else To Fix Your Life
And people who stand on that debt-free stage over there, they're never stressed about inflation. And so it's really important.
The Ramsey Show
Don’t Wait for Someone Else To Fix Your Life
I think it's going to shake out. I think you're going to see the tax cuts extended, Dave. I think you're going to see deregulation and tax cuts for businesses.
The Ramsey Show
Don’t Wait for Someone Else To Fix Your Life
I was waiting on Dave on that one. That's why I got out in front. What's the context, Jim?
The Ramsey Show
Don’t Wait for Someone Else To Fix Your Life
Uh-oh. Yeah, I mean. Why a year from now? Hold on. Let's play out your thing. You told Day, well, we're going to a year from now. So what's going to change between now and then for you to marry her instead of now a year from now? What changes?
The Ramsey Show
Don’t Wait for Someone Else To Fix Your Life
I'm going to take another tack here real quick. I think that you need to tell her it's a really bad idea, and you've seen the light, and you guys need to figure out if you really do want to spend the rest of your life together, not play house. I would actually go, and she stays back home. You guys figure out if you can do a long-distance relationship before you do this nonsense.
The Ramsey Show
Don’t Wait for Someone Else To Fix Your Life
If I was this girl's father, I'd be in your grill, man. That may not be popular, but I really don't care. I think this is crazy. I'd want you to prove to me, as this girl's father, that you're willing to be mature and put you two in front of your desire. I think that's what I would do and see if she's willing to do it. See if you're willing to do the long distance relationship.
The Ramsey Show
Don’t Wait for Someone Else To Fix Your Life
And while I'm ranting, when it's time, if you guys prove that you can do this, she can come visit for a little bit and get a job. I'm pretty sure they have plenty of hairdressers that need somebody to cut hair in Cleveland. So this is not this all-in scenario, Dave.
The Ramsey Show
Don’t Wait for Someone Else To Fix Your Life
Yeah, really, really great. You know, we did not talk politics. We talked leadership, something that she knows a lot about, having faced one of the biggest racial crises of our modern era. If you remember the tragic shooting in South Carolina, we talked about building a team. You know, she's been very successful in many walks of life. So the idea behind the show is very simple.
The Ramsey Show
Don’t Wait for Someone Else To Fix Your Life
We want to have the audience feel as though. And you have a live audience. Live audience. And so they represent the greater audience. When you see people sitting around or you hear them ask a question, if you're listening via podcast, they really symbolize you, the audience. And so we're very excited to bring this format, something I've always wanted to do.
The Ramsey Show
Don’t Wait for Someone Else To Fix Your Life
And it takes the level of, I feel like I'm just an observer, and it makes it feel like you're engaged. The team has done a great job. It's beautiful. If you want to watch it on YouTube, it's just a fabulous studio, very warm and inviting. And then, of course, the audio product on your favorite podcast app.
The Ramsey Show
Don’t Wait for Someone Else To Fix Your Life
It is a show that you're going to be challenged every time you're going to learn something and we're going to challenge you to do something.
The Ramsey Show
Don’t Wait for Someone Else To Fix Your Life
Yeah, I would say it's a conversation. It's not even so much just the back and forth question, but a conversation with me and the guests for probably six, You're right, 80% of it, and then the audience themselves at any time can interrupt and raise their hand and ask a question. We want that studio audience to feel free. If you've heard something, you can jump right in and ask.
The Ramsey Show
Don’t Wait for Someone Else To Fix Your Life
And so once we get that finished product out, it's just a beautiful mix, and people are really enjoying it.
The Ramsey Show
Don’t Wait for Someone Else To Fix Your Life
New episode comes out every Tuesday morning on YouTube and your favorite podcast app.
The Ramsey Show
Don’t Wait for Someone Else To Fix Your Life
I'll give you an idea. Coming up this Tuesday, Will Gadara, who's a good friend of yours, become a friend of mine. We're talking about the number one restaurateur in the world. That is an unbelievably difficult honor to achieve, and he's probably now one of the foremost experts on how to just treat people well with his runaway bestseller, Unreasonable Hospitality.
The Ramsey Show
Don’t Wait for Someone Else To Fix Your Life
So that deep dive is great for leaders.
The Ramsey Show
Don’t Wait for Someone Else To Fix Your Life
Yeah, the thing that I would add, Allison, is you mentioned you're going to have to let her hit rock bottom, and unfortunately you're going to have to do this. This is where role reversal takes place. You become the parent, she's the child, and it's very, very difficult.
The Ramsey Show
Don’t Wait for Someone Else To Fix Your Life
Well, if you could just snap your fingers and give her a job today, 40 hours a week, and everything was just hunky-dory, what would she do? What would you recommend that she would do just to bring in steady income?
The Ramsey Show
Don’t Wait for Someone Else To Fix Your Life
But short of, Dave, the children being able to pay for a private investigator, the only way – I hate to be so negative, but I've read into some of these things because we've taken this call several times over the last six months, as I recall – And I did some research. Very, very hard to recover this. These people, this may not even be a real dude. This could be a woman in some foreign country.
The Ramsey Show
Don’t Wait for Someone Else To Fix Your Life
Right. who's mature and she is. I don't know that because I didn't click on it. Probably $20, $25. And that's what the math has got to be. So I did that search because while Dave was talking, if this were my mom and that's what you called and asked us, then I would be going, Mom, let's run the numbers. And you get into one of those stores, you're probably going to get some health care options.
The Ramsey Show
Don’t Wait for Someone Else To Fix Your Life
If not, it's still a math game and more money coming in. But she needs income. And I think a healthy 71 with a smile and great work ethic I think there'd be plenty of big box stores that would love to take care of her.
The Ramsey Show
Don’t Wait for Someone Else To Fix Your Life
Great point on any health care facilities in the area.
The Ramsey Show
Don’t Wait for Someone Else To Fix Your Life
They are very creative, and they cover their tracks. And you almost have to have a private investigator who's got some experience in this stuff, number one, and who you can afford, number two, who can hopefully entrap them and catch them. That's the only way. Many times the law enforcement, Dave, just doesn't step up here because there's so many of these cases. So I hate to be so—
The Ramsey Show
Don’t Wait for Someone Else To Fix Your Life
I'm impressed by, I mean, this is, you know, about 60,000 a year, roughly. Yeah. You really went after it pretty hard. How did that change your lifestyle? And did you have second thoughts about it? And if so, how did you stay the course?
The Ramsey Show
Don’t Wait for Someone Else To Fix Your Life
You know what I love about this, Dave? You've taught for years at Entree Leadership, you know, your number one bestselling book about goal setting and realistic goals, achievable goals. And I love that's what you've got with these weekly and these monthly. Real curious, give us a real examples. I think people out there that are listening, watching could get something from that.
The Ramsey Show
Don’t Wait for Someone Else To Fix Your Life
Give us an example of that yearly goal and then break it down on what you did on a weekly and a monthly.
The Ramsey Show
Don’t Wait for Someone Else To Fix Your Life
And don't do this again. Yeah, I listen to this, and we hear this a lot. I understand the wife wanting to come home and be with the children. I concur. Do it. But they should have made the choice on the house back then. Should put a house for sale on the yard the day you do it. I agree. You've got to adjust your lifestyle when you adjust your life.
The Ramsey Show
Don’t Wait for Someone Else To Fix Your Life
In other words, they didn't adjust their lifestyle.
The Ramsey Show
Don’t Wait for Someone Else To Fix Your Life
Yeah, I was going to say very quickly that the timing for this is right because our audience is exploding in the podcast and YouTube space, and more and more we're seeing Gen Z call this show. So if you're in Gen Z... or you're a millennial, and you've just had an idea at some point in your life, I think this is a must-buy.
The Ramsey Show
Don’t Wait for Someone Else To Fix Your Life
You may not be ready to launch the business, but to understand what it takes to go from a card table, as Dave has said now just a moment ago, to a massive company with over 1,000 employees, hundreds of millions of dollars in revenue, it is a proven system. And I love the stages. They're very easy to understand. but will help you see what it's going to take.
The Ramsey Show
Don’t Wait for Someone Else To Fix Your Life
And Dave, we're seeing data now that Gen Z is the most entrepreneurial generation that we've ever had in history because they're seeing that their entryway into working for themselves is easier than ever. They see it obviously through video, through digital tools, and thus it's created this great desire to work for yourself. So this book, I think, is a must-gift.
The Ramsey Show
Don’t Wait for Someone Else To Fix Your Life
If you've got that young entrepreneur in your life, parents or grandparents, or if you are somebody who thinks you might want to work for yourself one day, I think this is a must read so that you can see what the climb is going to have to look like. That's why I like this book. I think the timing of this, this thing's going to go absolutely bananas because of the day and age in which we live.
The Ramsey Show
Delayed Gratification Is a Key Ingredient to Building Wealth
And why would you want to do that?
The Ramsey Show
Delayed Gratification Is a Key Ingredient to Building Wealth
Yeah, well, the answer to that is not what you're concerned about. The answer is pay cash. If you don't go into debt, then there's no regret because then you could. Let's just fast forward. Let's say that you pay cash. You cash flow your way through this. And on this income, you should be able to do that. And then you get the nurse practitioner degree. You have kiddos.
The Ramsey Show
Delayed Gratification Is a Key Ingredient to Building Wealth
You want to come home for a season. Then they get to school and you go, I want to go back. Uh, that entire transition is very likely, but there's no regret attached to that. And that extra income is going to be worth the ROI and that's going to be worth it. So the answer is don't go into debt, cashflow your way through it. And with your income, you should be able to save up and do that.
The Ramsey Show
Delayed Gratification Is a Key Ingredient to Building Wealth
Oh, well then what's the regret. Let's say you spend that cash. I mean, is the regret that I spent the cash and now I'm never going back into it. And so now I've just, Oh, I burnt that money. Is that what you're saying?
The Ramsey Show
Delayed Gratification Is a Key Ingredient to Building Wealth
No, I'd have babies. I would too. I was getting ready to say, I think that's the priority. Babies are better than school. And the school will always be there. Right. You see, and you already got the cash set aside.
The Ramsey Show
Delayed Gratification Is a Key Ingredient to Building Wealth
I'm going to say the same thing because I'm thinking if Stacey and I are having that conversation, I would ask you if I was sitting with you and your husband, I'd go, both of you vote, write it down, secret ballot or tell me straightforward, which is the higher priority. And if you both say kids, then I think it's a no brainer.
The Ramsey Show
Delayed Gratification Is a Key Ingredient to Building Wealth
School will always be there. Yep. And I'm not trying to, but I'm just going to speak some truth over you. You have no idea when these babies are coming. So you don't have any control over that. Now, I certainly hope it happens in a timeframe that you'd love, but we don't know. Spoken like a guy who adopted two and then had one. Right. And our journey was a long time.
The Ramsey Show
Delayed Gratification Is a Key Ingredient to Building Wealth
I don't wish that on anybody as far as a long period of trying to have babies, but I am saying you don't have any idea what that's going to look like. So you can't hedge your bets on, well, if I go to school, then we have the baby. You just don't know. So I would move forward with the bigger life decision, the bigger desire, the bigger priority. That's what we do.
The Ramsey Show
Delayed Gratification Is a Key Ingredient to Building Wealth
Then we manage the rest of the decisions against that.
The Ramsey Show
Delayed Gratification Is a Key Ingredient to Building Wealth
No question. And hear from us. You've got plenty of money.
The Ramsey Show
Delayed Gratification Is a Key Ingredient to Building Wealth
Yeah, I love it. And I love hearing the excitement. I love hearing. She's winning. They just paid off their debt. Now you got a young couple. The American dream is alive and well is what I take from that call. Absolutely. Despite what you may be reading or hearing somewhere else.
The Ramsey Show
Delayed Gratification Is a Key Ingredient to Building Wealth
Today's question comes from Kate in Maryland. My daughter is a junior in high school and has no idea what she wants to do when she graduates. My husband and I love the idea of her owning her own business, but neither my husband nor I have experience in this. We both wish we had made different career decisions that would have given us more independence.
The Ramsey Show
Delayed Gratification Is a Key Ingredient to Building Wealth
Where can we research with her to get a better understanding and vision for this option, or would you still recommend college versus real-world experience? Okay, I'm going to put myself into this particular situation, say if this was my daughter, what would I do? And so because she's a junior, we would begin to identify areas of interest, not come up with a business idea.
The Ramsey Show
Delayed Gratification Is a Key Ingredient to Building Wealth
I think this could be very paralyzing for a youngster. It's paralyzing for a lot of people in their 30s and 40s. Because we know, Dave, from the data that 70% of Americans want to be self-employed, but only 6% are. So I'm speaking from data here. So what I would do with my daughter is we would begin to identify areas of interest. In other words...
The Ramsey Show
Delayed Gratification Is a Key Ingredient to Building Wealth
people that she wants to help, solutions she gets excited about, problems she wants to solve. And there's an industry. If there's a business, there's an industry. And so we want to get broad so that she gets some real interest and begins to see some areas of interest. At that point, we're going to shadow.
The Ramsey Show
Delayed Gratification Is a Key Ingredient to Building Wealth
I'm going to allow her to go have coffee, lunch with people that are in those industries or maybe run businesses in those industries, shadow at work if she can get shadow opportunities, all of this to begin to create a field of three or four of her most interesting options at that point. Then we start to have the discussion, is college, is a degree the best decision?
The Ramsey Show
Delayed Gratification Is a Key Ingredient to Building Wealth
Or is it getting right into the workforce and working in an industry? I'll give you an example to help clarify this some more. If this were a young man, and by the way, it's not limited to young men, but let's say she decides she wants to own a business in the trades. At that point, then I want her shadowing folks that are working in those trades and getting a real-world perspective.
The Ramsey Show
Delayed Gratification Is a Key Ingredient to Building Wealth
The good, the bad, the ugly, the smelly, everything. And at that point, we determine whether or not she's really interested. And then the path is going to be to go to work and hustle and learn on the job. And eventually, you'll work your way into spinning off on your own and starting your own business. So that's a hard question to answer in such a short amount of time without back and forth.
The Ramsey Show
Delayed Gratification Is a Key Ingredient to Building Wealth
But that would be the advice that I would give because that's what I would do. These young people need to see it. touch it, experience it, smell it. Yes.
The Ramsey Show
Delayed Gratification Is a Key Ingredient to Building Wealth
Yeah, and to that point, the entrepreneurs that win are driven by deep, deep desire to solve a problem, and they come up with a solution. That's the business. It's a solution, and they're deeply passionate about it. That's what keeps them going because you almost need that magnetic pull or else you're going to quit.
The Ramsey Show
Delayed Gratification Is a Key Ingredient to Building Wealth
That is a great actual example of do I want to run a business that serves food or do I just want to cook food? Two very different paths. By the way, both honorable. But there is a big distinction between the two, and that's the key.
The Ramsey Show
Delayed Gratification Is a Key Ingredient to Building Wealth
And don't forget, they may not enjoy it. They may enjoy the service. They may hate it. They enjoy the service of the customer. They don't enjoy the service of leading a team of people. Again, two very different job descriptions.
The Ramsey Show
Delayed Gratification Is a Key Ingredient to Building Wealth
It would be great for them.
The Ramsey Show
Delayed Gratification Is a Key Ingredient to Building Wealth
Because we've actually got that, and that's a young person can take that and get a pretty good idea of what a current snapshot of what a professional job description of purpose would look like for them. And that can be a business.
The Ramsey Show
Delayed Gratification Is a Key Ingredient to Building Wealth
And that he worked really hard to get there. I loved how he kind of paused after you said, great job. And he went, it was a big accomplishment. And what's fun to hear about that is this is a guy who now understands the pain that they went through to get to baby step four. And now you get to the momentum stage where we're like, now we're getting wealthy and building wealth.
The Ramsey Show
Delayed Gratification Is a Key Ingredient to Building Wealth
Oh, I will ask a question because we got a lot of new people all the time. And I'd love I know the answer, but I'd love you to address it because we tell people in baby step for 15 percent. So the 15 percent explain that because he's got six percent he's putting in his company's matching. Uh, cause I think a lot of people have questions about that.
The Ramsey Show
Delayed Gratification Is a Key Ingredient to Building Wealth
Yeah, that's interesting, Dave. It's like run the business is one thing. She just wants to help with the finances. No, he doesn't want her involved at all.
The Ramsey Show
Delayed Gratification Is a Key Ingredient to Building Wealth
It gets down to ethics and character.
The Ramsey Show
Delayed Gratification Is a Key Ingredient to Building Wealth
Leon, I have two quick questions. Is there anything you haven't told us that we should know?
The Ramsey Show
Delayed Gratification Is a Key Ingredient to Building Wealth
You move forward mentally, move forward, you know, looking through everything financially involved with the move. And then you make the move. But your soul has kind of left your body already around this job. You feel like you've hit a lid. And the answer to your first question is, no, you didn't paint yourself in a corner unless you're not telling us something.
The Ramsey Show
Delayed Gratification Is a Key Ingredient to Building Wealth
You know, painting yourself in a corner is you have no options. You can't get out. That's the very idea there with that. So the question is, go back to 10 years ago. Where did you see yourself going up the ladder? What did it look like? Was it in this particular field or is it a different field, different industry?
The Ramsey Show
Delayed Gratification Is a Key Ingredient to Building Wealth
But what did you think you wanted to be doing? Where would you like to be today? Let's answer that question. If you could snap your fingers, no risk, what would you like to be doing right now?
The Ramsey Show
Delayed Gratification Is a Key Ingredient to Building Wealth
No, that's down the road. You went a little too far. You already answered the question, and then you edited it. I heard it. So what's the spot on the ladder you'd like today had the 10 years gone the way you wanted it to? What would you be doing?
The Ramsey Show
Delayed Gratification Is a Key Ingredient to Building Wealth
All right. So you get to management by virtue. In other words, you do good work and you're in a company that has a growth environment, meaning they do this. You've not grown for 10 years. One of the things I would challenge you as your coach – if we're sitting in a one-on-one session, is do you have good evidence as to why you haven't moved at all in 10 years?
The Ramsey Show
Delayed Gratification Is a Key Ingredient to Building Wealth
I'm not saying it's your fault, but I'm also not necessarily blaming the company. I just don't know enough to just make them the bad guys. But you need to know, homework assignment number one is, do I have some real clarity from my current leaders and through my records over the 10 years as to why maybe I haven't moved up the ladder. Let's make sure we're not walking around with a blind spot.
The Ramsey Show
Delayed Gratification Is a Key Ingredient to Building Wealth
Second thing is, okay, what positions are available to me in different companies, same industry, where I know for a fact I've done my homework and they have a culture of growth. Like Ramsey Solutions moves people up. You do a good job here. And you stay with it, you're going to get an opportunity for growth here. And so you're going to be looking for that.
The Ramsey Show
Delayed Gratification Is a Key Ingredient to Building Wealth
So you know the industry, Zach. You know the industry and you know the position. Go get it. Don't overthink this. But before you move, we're going to have something that we're going to move into. We're not going to jump and start looking. It's just never a good idea unless for some reason you've got all kinds of wealth.
The Ramsey Show
Delayed Gratification Is a Key Ingredient to Building Wealth
It might be. That's my next question. Have you ever sat with a leader in your 10 years and said, hey, I want to grow? What are some opportunities for me?
The Ramsey Show
Delayed Gratification Is a Key Ingredient to Building Wealth
Yeah, I think Dave's right. I think one more time I'd sit with him and go, hey, I've been here 10 years, and this is the kind of gig that I'd love to have. You've given me these opportunities. Shoot me straight. Let me know where I stand. I can handle it. We've been together a long time. Tell me, what are my options here to grow?
The Ramsey Show
Delayed Gratification Is a Key Ingredient to Building Wealth
And be okay with whatever the answer is, and that'll give you some clarity moving forward. But you're probably looking somewhere else is my guess. This is The Ramsey Show.
The Ramsey Show
Delayed Gratification Is a Key Ingredient to Building Wealth
And then my second question is, how much cash do you have total?
The Ramsey Show
Delayed Gratification Is a Key Ingredient to Building Wealth
Yes. Scary word to a lot of people now.
The Ramsey Show
Delayed Gratification Is a Key Ingredient to Building Wealth
That's what I was wondering. In this current situation, I would say no. I just, I wouldn't do it personally. I'd want to have the house cleared.
The Ramsey Show
Delayed Gratification Is a Key Ingredient to Building Wealth
I know, I know, but I don't know. I can't believe I'm actually... Saying you're a little bit more conservative than you, because I love cars, but when you walk through that, I personally put myself in the, what would I do if I were him, and I don't think I'd spring for that car at that price right now. That's fair. But you laid it out. He can do it.
The Ramsey Show
Delayed Gratification Is a Key Ingredient to Building Wealth
Yeah, I was going to say, Nicholas, the one thing you're going to need to fight is that you've been in college presumably for four years and you got a dorm room or an apartment in the cool part of town and life's been a big, big blast. And you've done well and you got a good job. Now it's the time to start being patient. And I think the roommate living further out.
The Ramsey Show
Delayed Gratification Is a Key Ingredient to Building Wealth
learning how to manage your money, you're going to be so far ahead if you just can be patient and not try to keep a portion of that college lifestyle going. This is the real world now, and that means not getting an apartment in an expensive place, getting one, two, maybe three roommates for a year, whatever that is.
The Ramsey Show
Delayed Gratification Is a Key Ingredient to Building Wealth
So that's my encouragement to you is now things are changing, and the mindset has to change with it. Or else you're going to feel like, oh, I should have this, and I've been doing this. Well, you can't afford to do that. It's a very different world now.
The Ramsey Show
Delayed Gratification Is a Key Ingredient to Building Wealth
So you're just wanting to save the three this year to keep going towards all this debt elimination? That's your why?
The Ramsey Show
Delayed Gratification Is a Key Ingredient to Building Wealth
What do you think their real reaction is going to be if you told them today?
The Ramsey Show
Delayed Gratification Is a Key Ingredient to Building Wealth
Have you ever seen Christmas Vacation with Chevy Chase?
The Ramsey Show
Delayed Gratification Is a Key Ingredient to Building Wealth
Wow. You're going to watch that tonight. That didn't go well when he didn't pay the bonuses and he gave them the jelly of the month club. These people are counting on it. Listen, it's a comedy, but people are counting on this, and you waited way too late to change this on them. It's my opinion. I wouldn't do that for what money you think you're going to save. And you have the money.
The Ramsey Show
Math Is Important but Behavior Change Is What Matters
Well, but hold on a second. I asked you this, and you kind of feel like you went a different direction. I asked you, is this a recent revelation that he's not been honest with you? I love that your finances are separate. They should be. That's exactly what we would tell you if you asked us that. You aren't married yet.
The Ramsey Show
Math Is Important but Behavior Change Is What Matters
And by the way, because we're running out of time, I want to set her up, Christian, with one of our financial coaches, please. Let's gift her a session. So there's just a little bit more time and they can help you with a plan because we just cannot cover all of this in the small time we have with you. Secondly, Christian, you've done this before.
The Ramsey Show
Math Is Important but Behavior Change Is What Matters
Also, let's figure out what churches we know in the area where she lives specifically. We will also make some connections to this church for you or churches. And I cannot say... What Jade said is absolutely the number one thing you got to do right now. Now, the coach will help you. Our coach, financial coach will help you and come up with a game plan.
The Ramsey Show
Math Is Important but Behavior Change Is What Matters
But you've got to go tell your story because people's hearts will break with yours and you will get help. You've got to be okay to say, I need help. No shame in your game, Sarah. You stepped up. You did what you did. No one's judging you, including us.
The Ramsey Show
Math Is Important but Behavior Change Is What Matters
You've got to have some help. Yeah. So hang on the line. Christian's amazing. He'll take good care of you, Sarah. Help is on the way. Keep your chin up. There's a plan. This is The Ramsey Show.
The Ramsey Show
Math Is Important but Behavior Change Is What Matters
So my question is, is this something new that you have found out, and how did you find out?
The Ramsey Show
Math Is Important but Behavior Change Is What Matters
Welcome back to The Ramsey Show. I'm Ken Coleman. Jade Warshaw is alongside. 888-825-5225 is the phone number to jump in. All right, it is possible to break the cycle you've been stuck in. I'm just telling you, it's possible. It might seem as though you're just never going to get out of it, but it is possible. And we're talking about your money and your relationships. There's such a tie there.
The Ramsey Show
Math Is Important but Behavior Change Is What Matters
Dave Ramsey and Dr. John Delaney are hitting the road to show you how to break out of the cycle. It's called the Money and Relationships Tour. They're going to talk about raising great kids, handling money fights, making real friends, and more. This is the turning point you've been looking for, and the time is running out.
The Ramsey Show
Math Is Important but Behavior Change Is What Matters
The dates are Louisville on April 21, Durham, North Carolina on April 23, Atlanta, Georgia April 25, Phoenix, Arizona on May 5, Fort Worth on May 7, Kansas City on May 9. RamseySolutions.com slash tour is where you get the tickets. Or if you're watching on YouTube or listening via your favorite podcast app, click the link in the show notes. It's the Money and Relationship Tour.
The Ramsey Show
Math Is Important but Behavior Change Is What Matters
Dave Ramsey, Dr. John Deloney coming to a city maybe near you. So go check out the details and get your tickets now. Colton is up in Denver, Colorado. Colton, how can we help?
The Ramsey Show
Math Is Important but Behavior Change Is What Matters
Hi, Mrs. Warshaw. How are you guys doing today? Well, I just feel about 15 years older now. It was very formal. Mr. Coleman and Mr. Warshaw with you today, folks. We're here to take care of business. What's going on, Colton? How can we help? We appreciate the respect. Jade feels she doesn't know what to do with that.
The Ramsey Show
Math Is Important but Behavior Change Is What Matters
I particularly like this question because, full disclosure, Japan is on my top five list of places to go. Interesting. That I've not been. Okay. So I'm a little interested in this. All right. All right, Colton, how much is it going to cost?
The Ramsey Show
Math Is Important but Behavior Change Is What Matters
All right. Okay. And do you have any debt?
The Ramsey Show
Math Is Important but Behavior Change Is What Matters
This is The Ramsey Show. It's where you hang out, America, to talk about your life, specifically your money, your profession, and your relationships. Alongside the incomparable, the inimitable Jade Warshaw, I'm Ken Coleman. And we're here for you this hour. 888-825-5225. 888-825-5225 is the number. You ready to go? You're in your spring corduroy. Yes, I am. I like this.
The Ramsey Show
Math Is Important but Behavior Change Is What Matters
And so what is a fully funded emergency fund as we define it, three to six months? What's that for you? Mm-hmm.
The Ramsey Show
Math Is Important but Behavior Change Is What Matters
Okay, so you've already got, so the $15,000 is a fully funded emergency fund and then some for you. Yes. And you're going to be able to cash flow between now and next October easily the $4,000 to cover the trip, yes or no?
The Ramsey Show
Math Is Important but Behavior Change Is What Matters
Yeah, but we don't have a net worth calculator as your vacation. The bottom line is, do you have any debt? The answer is no. And do you have a fully funded emergency fund? Yes. How long is the trip? Are you investing 15% of your income into retirement?
The Ramsey Show
Math Is Important but Behavior Change Is What Matters
Here's my deal. I'll get out of the way and cede my time to my financial expert partner over here. I just see no issue with you coming up with four grand, even if you're investing 15%, which you need to be doing. You coming up with four grand between now and October, 2026. Yeah.
The Ramsey Show
Math Is Important but Behavior Change Is What Matters
Is a non-issue, my man. So I would say go to Japan.
The Ramsey Show
Math Is Important but Behavior Change Is What Matters
And you only live once, bro. The fact that you're paying cash for this. Yeah. You're young.
The Ramsey Show
Math Is Important but Behavior Change Is What Matters
All right. So listen, I'm going to preview my talk. On the Ramsey cruise. What talk? What's it about? I'm about to tell you. It's the answer to why he's calling it.
The Ramsey Show
Math Is Important but Behavior Change Is What Matters
My talk is for decades, Davis said, live like no one else. That's the baby steps.
The Ramsey Show
Math Is Important but Behavior Change Is What Matters
So that later you can live like no one else. And then he eventually added and give like no one else. Right, right, right. Okay. But living like no one else, the crux of my talk, because all these people on the cruise are baby step four and higher. Facts. Okay. Is don't get to the end of your life
The Ramsey Show
Math Is Important but Behavior Change Is What Matters
Okay. All right. Well, that's all. Thanks for sharing that. That helps Jade and I in trying to encourage you because this is less about him lying about the finances. This is just about him lying. So we've got money problems, and you guys are about ready to tie the knot. When is the big day?
The Ramsey Show
Math Is Important but Behavior Change Is What Matters
After you're doing all this hard work to live like no one else and not actually live like no one else, which means when you're 24 and debt free. Come on. Going to Japan for four grand because you can. Yeah. And you come back with a great experience and no stress. That's living like no one else.
The Ramsey Show
Math Is Important but Behavior Change Is What Matters
I'm not talking about the money part. I'm going to say on the other side of all this hustle. Now we go from intensity to tensionality. And let's talk about the regrets of the dying. I'm going to share the regrets.
The Ramsey Show
Math Is Important but Behavior Change Is What Matters
What we know from tons of studies on it.
The Ramsey Show
Math Is Important but Behavior Change Is What Matters
Yeah. I won't give the whole talk, but it's I didn't live true to myself. Like I tried to please everybody else.
The Ramsey Show
Math Is Important but Behavior Change Is What Matters
I didn't spend enough time with friends. I didn't spend enough time with family. Like these type of things. And so I'm going to equate it to now that you have financial peace, what does living like nobody else look like? And I'm going to actually spin. I'm going to flip the regrets. So instead of a regret, I'm going to go, here's the flip side to this regret, and I'm going to name it.
The Ramsey Show
Math Is Important but Behavior Change Is What Matters
And now that you have the money and the freedom to pursue this, get to the end of your life and reminisce, not regret. That's the final. That's very good. So I would say, Colton. I believe in this so much. That's the talk I'm doing, essentially. And I think at 24, being debt-free, if you don't go to Japan, it's the type of thing you might regret one day. And none of us are promised tomorrow.
The Ramsey Show
Math Is Important but Behavior Change Is What Matters
So while I'm living, this is from the Broadway show, Redwood, with Idina Menzel that Stacy and I just saw. There's a song and there's a lyric in the song that says, live while you're living.
The Ramsey Show
Math Is Important but Behavior Change Is What Matters
And I'm going to go ahead and borrow that. I probably botched that lyric. I'm with you. I thought you were going to Sinatra. No, I just think that when I'm living, live.
The Ramsey Show
Math Is Important but Behavior Change Is What Matters
Live. And I think this meets all of the requirements for us saying, you know, Davis said for years, don't let your vacation come home with you. I agree.
The Ramsey Show
Math Is Important but Behavior Change Is What Matters
By putting it on a credit card.
The Ramsey Show
Math Is Important but Behavior Change Is What Matters
Just go. This is my new qualifier, Colton, Jay, and everybody else. When given an opportunity, I sit there and I think, is this something that if I'm an 85-year-old man in my final days that I'm going to look back on and go, I wish I had done that.
The Ramsey Show
Math Is Important but Behavior Change Is What Matters
Hey, if there's karaoke on the cruise, will you sing that song you just talked about? Yeah, Ken. If Jade works with me on it, like she's got to make sure that I can get all the keys. Yeah, yeah, yeah. She's a pro. If she coaches me, sure. Maybe does a duet with me. I don't know. Based on the last time we heard you sing, Ken.
The Ramsey Show
Math Is Important but Behavior Change Is What Matters
If I can do like a Kirk Franklin version, like Kirk never actually sings, but he surrounds himself with great singers. That's more me. I say a couple lines with some oomph while you're singing. This is The Ramsey Show.
The Ramsey Show
Math Is Important but Behavior Change Is What Matters
Welcome back to The Ramsey Show. I'm Ken Coleman. Jade Warshaw joins me. And we're here for you this hour, 888-825-5225. Before we get to the phones, it's time for our Ramsey Show question of the day, brought to you by WhyRefi. With WhyRefi, you can take control of your defaulted private student loans with a plan that works with your monthly budget. Visit WhyRefi.com slash Ramsey.
The Ramsey Show
Math Is Important but Behavior Change Is What Matters
That's the letter Y, R-E-F-Y dot com slash Ramsey. It may not be available in all states.
The Ramsey Show
Math Is Important but Behavior Change Is What Matters
So now we've got a good idea of what's going on, and I'm troubled. If I could play big brother for a moment, I'm concerned because this is a real problem. We know that financial issues cause a lot of marriage stress, number one. It's well documented. And then number two, there's dishonesty here. And so I'm very concerned. So how can we help you best today? What can we do?
The Ramsey Show
Math Is Important but Behavior Change Is What Matters
You were so intense because this says intensity to me.
The Ramsey Show
Math Is Important but Behavior Change Is What Matters
Like I. Which I understand that.
The Ramsey Show
Math Is Important but Behavior Change Is What Matters
Was there. OK, but I also know you. You're probably one of the most principled convicted people I know. And that's a compliment.
The Ramsey Show
Math Is Important but Behavior Change Is What Matters
So what changed is was it something that Sam said? What made you finally go? And I know you just kind of said it, but there had to be something before that.
The Ramsey Show
Math Is Important but Behavior Change Is What Matters
Very personal answer there, which is powerful. You felt her.
The Ramsey Show
Math Is Important but Behavior Change Is What Matters
Love it. Really good question. Better answer. Love it. Let's go to Austin who's now joining us in Salt Lake City. Austin, how can we help?
The Ramsey Show
Math Is Important but Behavior Change Is What Matters
Jade, I don't know where you're at, but I'm leaning towards, I think you should just pay this car off.
The Ramsey Show
Math Is Important but Behavior Change Is What Matters
Yeah, that's right. But they can do this.
The Ramsey Show
Math Is Important but Behavior Change Is What Matters
I mean, this is doable. So you've got options there. I like it. All right. Good stuff. All right. Fun hour. It went fast. That means I think we were having fun, Jade.
The Ramsey Show
Math Is Important but Behavior Change Is What Matters
Okay, good. All right. That would have been awkward had you said no.
The Ramsey Show
Math Is Important but Behavior Change Is What Matters
This is The Ramsey Show. I hate to admit this, but I don't always eat right. I know, I need to eat more fruits and veggies, but sometimes I just have to pound some chips because they taste so good. That's why I love my Field of Greens. It helps me eat healthy when I don't have much time. And each fruit and vegetable in Field of Greens was doctor selected for a specific health benefit.
The Ramsey Show
Math Is Important but Behavior Change Is What Matters
Heart, lungs, kidney, metabolism, even healthy weight. And folks, I ain't getting any younger. It's super easy to mix with water. And here is the great part of it. I thought it might taste like grass, but it tastes great. And only Field of Greens makes this promise. Your doctor will notice your improved health or your money back.
The Ramsey Show
Math Is Important but Behavior Change Is What Matters
So go to fieldofgreens.com slash Ramsey for 20% off your first order. That's fieldofgreens.com slash Ramsey to save 20% on your first order. This is the Ramsey Show America. We're thrilled to have you with us. You're welcome. We want to coach you up to win with your money, to win in your profession, and win in your relationships. 888-825-5225 is the number.
The Ramsey Show
Math Is Important but Behavior Change Is What Matters
The chuckle you heard in the background was none other than my good friend and co-host, Jade Warshaw. She's going to try to keep me on track as well as give you great money advice, so pray for her.
The Ramsey Show
Math Is Important but Behavior Change Is What Matters
Well, you thought it was like... Like we're blessing them with our presence. And I was thinking you are welcome.
The Ramsey Show
Math Is Important but Behavior Change Is What Matters
You are welcome here on the show. We want to help you.
The Ramsey Show
Math Is Important but Behavior Change Is What Matters
I have to work better. I think my personal brand is making you think one thing. No, I'm just happy to be here. Let's go to Margie in Chicago, Illinois. Margie, how can we help today?
The Ramsey Show
Math Is Important but Behavior Change Is What Matters
I think so. I think at the heart of the question, though, Margie, from what I heard, it was you're trying to get you and your husband on the same page. You're using frugality and you want a little bit more of a plan. You want to get ahead a little bit more. And he's going, man, I kind of want to enjoy life. We got enough. Is that the tension?
The Ramsey Show
Math Is Important but Behavior Change Is What Matters
Okay, so let me, so I think everything that Jade said is spot on, and I think that what she's saying is absolutely the key to you finally getting you and your husband on the same page. With the budget, if you treat this budget for him as not this frugality play, but actually an intentionality play.
The Ramsey Show
Math Is Important but Behavior Change Is What Matters
In other words, it's tension every time you try to say, hey, I'd like to be a lot tighter, all the things. I mean, Jay gave you the way to do it, but I think to get him on board, it's less of a message of being tight and frugal. It has a... I think it's got an emotion on it that he doesn't like, and I don't think it's going to break through. This is my hunch.
The Ramsey Show
Math Is Important but Behavior Change Is What Matters
But if you come at it and say, hey, this is going to allow us to spend – like you want to spend, but still we make the progress in these areas over here. And I think by doing what Jade told you, so it's everything she said, all I'm saying is the way you couch it, this isn't manipulative. It's just speaking to his desire to live. He wants to live. I hit the nerve. That's why you're laughing.
The Ramsey Show
Math Is Important but Behavior Change Is What Matters
Him in the middle. The budgeting is for planning and intentionality, but give him some space. Give him his fund, whatever that is. You guys put it in the budget, and that way he's got some margins, and you guys are okay. Fun stuff. Really fun call. All right. We've got to take a quick commercial break because we've got to pay them a bill.
The Ramsey Show
Math Is Important but Behavior Change Is What Matters
Welcome back to The Ramsey Show. I'm Ken Coleman. Jade Warshaw is with me. We're here for you, America. 888-825-5225. Let's go to Newark, New Jersey. Jeremy is there. Jeremy, how can we help?
The Ramsey Show
Math Is Important but Behavior Change Is What Matters
Okay, so it's going to be easier on your body as a pro. Looks like it has more longevity as a pro. A 40% cut is not a pro. And I'm a guy that has entertained things like this before. But four years... So to me, the question, and the only question that I need an answer to on this is, can you absorb that?
The Ramsey Show
Math Is Important but Behavior Change Is What Matters
Is it taking you to a different state or cost of living, or you've got so much margin in your life that 40% won't really be obvious in a painful way? That's what I need to know. Can you sustain that?
The Ramsey Show
Math Is Important but Behavior Change Is What Matters
My point is you're not in a marriage situation and you don't have kids, right?
The Ramsey Show
Math Is Important but Behavior Change Is What Matters
I'm going to tell you that you need to be looking for other opportunities that don't require a 40% cut. I understand the physical toll on the body. I do get what you're saying there. I see the longevity play. If I were in your shoes before I did this, I would be making sure that there were no other better options. And I don't believe that that's the case, Jade.
The Ramsey Show
Math Is Important but Behavior Change Is What Matters
I just don't think that's the only option he has.
The Ramsey Show
Math Is Important but Behavior Change Is What Matters
Yeah, I don't feel like you're in an emergency situation is what she's getting at. Like, this feels like...
The Ramsey Show
Math Is Important but Behavior Change Is What Matters
Well, I'm going to tell you right now, I am never going to tell somebody to take a 40% pay cut and sit four years in that pay cut to get to move up in a union. It's too risky. I'm not going to put my future in the hands of the union. Sorry. I'm going to catch hate for that, but that's just what I believe.
The Ramsey Show
Math Is Important but Behavior Change Is What Matters
Oh, buddy, you buried the lead. You didn't tell us that. Sorry, yeah, yeah.
The Ramsey Show
Math Is Important but Behavior Change Is What Matters
Okay, here's my ruling. I'll let Jay get the last word on it because I've heard enough. I personally would not do this. However, from giving you advice, if you believe this is your best ladder for the future that you want and you can absorb the cut, 40% one year, then it's only 30%.
The Ramsey Show
Math Is Important but Behavior Change Is What Matters
And if you can absorb that, not go into debt, and you've got enough margin to live comfortably, then I wouldn't hate it. But I would not do it. It sounds like I'm splitting the baby, but I'm not.
The Ramsey Show
Math Is Important but Behavior Change Is What Matters
What do you say? I want to know what you owe on the car.
The Ramsey Show
Math Is Important but Behavior Change Is What Matters
That's $8,400 a year, pal. Yeah.
The Ramsey Show
Math Is Important but Behavior Change Is What Matters
Okay, I'm interrupting. I'm interrupting because my partner figured it out. She got to the core. You're just looking at this as this is good. This is good long term. We want great for you. What's going to make Jeremy get fired up on a Monday morning 20 years from now? I don't think this is it. Am I right?
The Ramsey Show
Math Is Important but Behavior Change Is What Matters
That's all that we're getting at.
The Ramsey Show
Math Is Important but Behavior Change Is What Matters
I mean, that's what you were getting at, and kudos to you. That's what I teach, and I believe. It's like, is this the long-term play? And a long-term play that we go, I'm excited about this. Not, it's a good job. It's okay.
The Ramsey Show
Math Is Important but Behavior Change Is What Matters
Yeah. All right. Well, there you go. Get your house in order financially before you take this move. Because you don't want this to be, you don't think, okay, this is going to be fun. And then you get in and you go, oh, this is a lot harder than I thought. This is, I call it my half marathon decision. I thought, oh, this will be a great test and it'll be fun training and it'll be all these things.
The Ramsey Show
Math Is Important but Behavior Change Is What Matters
And then your boy got, no, it wasn't. Your boy got into it and was like, I'm a grown man. Why am I out here running for two hours on a Sunday afternoon instead of laying on my couch watching golf? Yeah, but I didn't, it wasn't grit that was worth it to me. There wasn't anything. In other words, I thought I'd be motivated to do it and I was motivated to get through it. Big difference.
The Ramsey Show
Math Is Important but Behavior Change Is What Matters
I'm not like you. You, this woman, folks, she is an iron woman. I mean, you can just go run marathons. Like, no big deal.
The Ramsey Show
Math Is Important but Behavior Change Is What Matters
Yeah, but the way you train, you're just too disciplined for me on that. I'll play pickleball for three, four hours.
The Ramsey Show
Math Is Important but Behavior Change Is What Matters
But I'm not going to go running on the road somewhere for no purpose at all. What am I doing? I'm just trying to run back to the place where my car is. It doesn't make any sense to me. But I digress.
The Ramsey Show
Math Is Important but Behavior Change Is What Matters
This is The Ramsey Show. I'm Ken Coleman. Jade Warshaw is with me, and we're here for you. 888-825-5225. So I've got to give it to you, Jade. We've got a fun email we got from Nate in Michigan. And this is fun. It's kind of related to a segment you've done before, asking for a friend.
The Ramsey Show
Math Is Important but Behavior Change Is What Matters
And I got to tell you, anytime you can cash flow something, it just feels better than pulling it out of savings. I know the savings is there, but I despise.
The Ramsey Show
Math Is Important but Behavior Change Is What Matters
With a deep soul hatred. Yes. Pulling money out of the big fund, the emergency fund.
The Ramsey Show
Math Is Important but Behavior Change Is What Matters
I don't like it. I try to cash flow everything.
The Ramsey Show
Math Is Important but Behavior Change Is What Matters
I get it. That's how I got a free roof, by the way. Yeah. Tell us more, Ken Coleman, about a free roof. Well, the short answer is I had to replace our roof. Not thrilled about it.
The Ramsey Show
Math Is Important but Behavior Change Is What Matters
So I started thinking, I got to get this situation. I don't want to pull out of that. So I was like, so the guy comes up once he wants to do the roof. I said, look, here's the deal. We're very connected in the neighborhood. You do a good job. I help you get business. How do you feel about that? He says, tell me more. We talk. Then he says, all right, I'll tell you what.
The Ramsey Show
Math Is Important but Behavior Change Is What Matters
I can get it to a point where it's just your deductible. So I thought, okay, I like that. So he calls insurance up because insurance had previously denied us. He gets on the phone with them, makes the case. That's great. Insurance says we'll cover it. Then it's a deductible. So I go back to him and I go, how about you guys eat my deductible? I get the free roof and in turn...
The Ramsey Show
Math Is Important but Behavior Change Is What Matters
I promote your company in my neighborhood through some social and through some key people that I know.
The Ramsey Show
Math Is Important but Behavior Change Is What Matters
And guess what? We've got him four different roofs. So I just thought, I don't want to touch. Then I got aggressive.
The Ramsey Show
Math Is Important but Behavior Change Is What Matters
And I didn't want to have any cash come out. So I took my shot. Well, the worst he could say is no. Yeah. So guess what? He's now had four roofs that I'm aware of that came directly from us. Now he's in the neighborhood. Wow. So I'm just saying.
The Ramsey Show
Math Is Important but Behavior Change Is What Matters
Where there's a will, there's a way. Yes, sure. Where there's a will, there's a way.
The Ramsey Show
Math Is Important but Behavior Change Is What Matters
That's the point of it. Forget the details of my story.
The Ramsey Show
Math Is Important but Behavior Change Is What Matters
I started trying to get creative with how I wouldn't have to touch my emergency fund because it came out of the blue. Like it was a problem we didn't know about. So now I'm like, come on, man.
The Ramsey Show
Math Is Important but Behavior Change Is What Matters
Fun stuff. Sean is on the line in Denver, Colorado. Sean, how can we help? How are you guys? Doing well, sir. What's going on?
The Ramsey Show
Math Is Important but Behavior Change Is What Matters
So the bottom line is, would the $35,000 even help you? Because you're going to have to refi. Theoretically, can you?
The Ramsey Show
Math Is Important but Behavior Change Is What Matters
It's like I said, I made the mistake, so I'm only going to penalize you on my mistake this much.
The Ramsey Show
Math Is Important but Behavior Change Is What Matters
Is there something with the type of house, because it's a manufactured house, that that's why nobody wants these loans?
The Ramsey Show
Math Is Important but Behavior Change Is What Matters
Do you have any equity in this house at all?
The Ramsey Show
Math Is Important but Behavior Change Is What Matters
If it was me, now, Jay, tell me if I'm being too aggressive here, but I'd get out of this house instead of keep messing with this. If it's true that he's only got one lender who will play ball with him, he's going to keep getting jacked around here.
The Ramsey Show
Math Is Important but Behavior Change Is What Matters
Yeah. I'm all for selling it, man, and rent for a while and get yourself a house that doesn't have these kind of limitations.
The Ramsey Show
Math Is Important but Behavior Change Is What Matters
Yeah. However, I agree with all of that, but I think this ought to be premarital counseling.
The Ramsey Show
Math Is Important but Behavior Change Is What Matters
Yeah. Oof. This is the Ramsey Show.
The Ramsey Show
Math Is Important but Behavior Change Is What Matters
Because you actually need a professional coach. who can help you navigate his feelings. His feelings are very real and as a result, very powerful. In other words, there's a lot of shame. What I heard is he has shame and he needs to know that you aren't judging him. He needs to know that you aren't holding an ultimatum over his head, but that you don't feel safe because of the way he does money.
The Ramsey Show
Math Is Important but Behavior Change Is What Matters
This is The Ramsey Show. I'm Ken Coleman. Jade Warshaw is with me, and we're thrilled to have you. 888-825-5225. 888-825-5225. We get calls, it feels like, almost daily from people who are launching a side business. They want to make some more money, whether that to be pay for college, pay off debt. build up retirement, or it's just about living the dream.
The Ramsey Show
Math Is Important but Behavior Change Is What Matters
All right. That means we've got a little extra energy for you folks today. Jade's going to help out on how to save, how to invest the money, and I'll help out on how to make more money. So it's quite a combo. if I do say so myself. We start off with Darlene in Missoula, Montana. Darlene, how can we help today?
The Ramsey Show
Math Is Important but Behavior Change Is What Matters
And building a business and running that business effectively over the long haul is very, very difficult. And that's why we're very excited that Dave's got a brand new book out called Build a Business You Love. He's unpacking what it took.
The Ramsey Show
Math Is Important but Behavior Change Is What Matters
to take this business from a card table to where it is now over 250 million dollar business so uh it is the baby steps for running a business that's the way dave describes it you could pre-order it now for 29.99 and you're going to get over 350 dollars in free bonus items just for purchasing it ahead of time you get to pre-order it and it comes to you when it releases
The Ramsey Show
Math Is Important but Behavior Change Is What Matters
You can pre-order today at ramseysolutions.com. That's ramseysolutions.com. Or the link is in the show notes if you're on YouTube or podcast. All right, to the phones we go. Patricia is joining us now in Long Island, New York. Patricia, how can we help?
The Ramsey Show
Math Is Important but Behavior Change Is What Matters
I'm curious about the kiddos that you helped out with these loans. What are they doing now?
The Ramsey Show
Math Is Important but Behavior Change Is What Matters
So the 87 is your deal, just yours?
The Ramsey Show
Math Is Important but Behavior Change Is What Matters
Okay. All right. I'm sorry. I should have asked that right out of the gate. Sometimes I'm wondering if parents are paying everybody else's or just yours. So, okay. All right. So you've got the 87. What's your income?
The Ramsey Show
Math Is Important but Behavior Change Is What Matters
And this is about us judging. Moving forward, having a healthy and prosperous marriage, not what you've done now or what you're dealing with. I'll help you. I'll dive in going forward. Hey, babe, I'll handle the finances and you don't have to worry about it because it's my thing. It's my jam. Like that has to be facilitated through a real marriage pro. And I could not recommend.
The Ramsey Show
Math Is Important but Behavior Change Is What Matters
I think your next steps are, hey, we're doing this for us so that there's no judgment. Sit with me in there. They'll keep me in check so that I don't shame you.
The Ramsey Show
Math Is Important but Behavior Change Is What Matters
Yeah. And listen, Patricia, there will come a point where you've got to think about selling stuff, making extra money, and you go, okay, what can I do every month? Could I make $1,000 a month in additional money that would go towards the loan? Or is it $2,000?
The Ramsey Show
Math Is Important but Behavior Change Is What Matters
You start to play with these numbers, and at some point when you begin to deliver on this, you're going to see the momentum, and you will be able to get rid of this, which will give you a chance to retire with some dignity. So you're going to have to be intense. Yeah. But this is actually very doable, but a lot of intensity over a short amount of time will get you there.
The Ramsey Show
Math Is Important but Behavior Change Is What Matters
You paid your car off. How expensive was that car loan you told us about? 17k come on so you're doing it it's not like you don't have any track record here so get your chin up patricia all right no i know i've done a few things right and i've never been one who have depended on credit cards a lot i don't like them you're a good lady you're a good mom right along the way hey no shame in your game
The Ramsey Show
Math Is Important but Behavior Change Is What Matters
Come at it that angle and just say, please do this for us, and it's going to be okay. No shame. No nothing. No condemnation. I think that's the play, but I do believe that this is premarital counseling. This is not a money issue right now. It could be, but it's actually not. And that's why I would do that. So thanks for the call, Darlene. Thanks for trusting us.
The Ramsey Show
Math Is Important but Behavior Change Is What Matters
I'm not kidding you. Shame will hold us back from breaking through stuff like this. So you're okay. No shame in this show at all for you. That's why we do this. This is The Ramsey Show.
The Ramsey Show
Math Is Important but Behavior Change Is What Matters
I think it's going to be okay if you approach it that way and you guys stick through the therapy. Quick break. We'll be right back. This is The Ramsey Show.
The Ramsey Show
Math Is Important but Behavior Change Is What Matters
Welcome back to the Ramsey Show. So glad you're with us today, America. Alongside Jade Warshaw, I'm Ken Coleman, and we're here to coach you up. 888-825-5225. That's the phone number. Sarah's going to join us now in Atlanta, Georgia. Sarah, how can we help today?
The Ramsey Show
Math Is Important but Behavior Change Is What Matters
you know and i was getting all this to keep them out of the system and now it's been five years and i am like broke i don't know what to do oh sarah well first of all you are such an amazing grandma i'm telling you um you stepped up and um we're gonna help you we're gonna help you so give us the scenario where are you at where are you financially or did you did you accrue any debt
The Ramsey Show
Math Is Important but Behavior Change Is What Matters
We want to get you out of this. What's your debt?
The Ramsey Show
Math Is Important but Behavior Change Is What Matters
What happened? Is this a new revelation?
The Ramsey Show
Math Is Important but Behavior Change Is What Matters
Is that why you lost your job before?
The Ramsey Show
Math Is Important but Behavior Change Is What Matters
And so a lot of medical stuff still going on?
The Ramsey Show
Math Is Important but Behavior Change Is What Matters
Okay. And so where's most of your money going? Is it for therapy and the medical stuff? I'm guessing that's extremely expensive.
The Ramsey Show
Math Is Important but Behavior Change Is What Matters
Yeah. And the reason I'm asking is because I know that area very well. I lived down there for a long time, so I'm just curious. So you're south of the airport, right?
The Ramsey Show
Math Is Important but Behavior Change Is What Matters
Okay, gotcha. All right. All right, let's walk through the debts really quick because we don't have a ton of time left and we're going to get you some help here. But let's give Jade a quick snapshot of your total debt. We know the house. Well, let's just quickly get that. How much is the house worth today? Do you have any idea versus what you owe?
The Ramsey Show
Math Is Important but Behavior Change Is What Matters
Okay, so you don't have much there. Okay, and now go through the rest of your debts, smallest to largest.
The Ramsey Show
You Need To “Happen” to Your Life Instead if It Happening to You
But like, can we talk about, I'm dying right now. You did such a good job. Can we talk about this man's car?
The Ramsey Show
You Need To “Happen” to Your Life Instead if It Happening to You
What's the car worth?
The Ramsey Show
You Need To “Happen” to Your Life Instead if It Happening to You
So, it's worth $21,000.
The Ramsey Show
You Need To “Happen” to Your Life Instead if It Happening to You
Okay, good. I mean, I think you've got to sell this car right now at 30% interest rate, Jade. I know that's extreme.
The Ramsey Show
You Need To “Happen” to Your Life Instead if It Happening to You
I thought he said 30%. No, it's 30%. You asked that twice and he said 30%. T-H-I-R-T-1. Listen, I just turned 41 in my old age.
The Ramsey Show
You Need To “Happen” to Your Life Instead if It Happening to You
He's paying 30% on this car.
The Ramsey Show
You Need To “Happen” to Your Life Instead if It Happening to You
All right, Jade and I are going to look into some whiskey and oysters ourselves.
The Ramsey Show
You Need To “Happen” to Your Life Instead if It Happening to You
For after the show. We'll see what the order looks like, but we'll be right back. This is The Ramsey Show.
The Ramsey Show
You Need To “Happen” to Your Life Instead if It Happening to You
Welcome back to the Ramsey Show. I'm Ken Coleman. Jade Warshaw is with me, and we're here for you. 888-825-5225. Hey, it's that time of year, Jade. Have you already got your taxes bundled and ready to go?
The Ramsey Show
You Need To “Happen” to Your Life Instead if It Happening to You
Wow. I'm not sure I know what you said, but I'm not sure what you said.
The Ramsey Show
You Need To “Happen” to Your Life Instead if It Happening to You
You're not unburdened by what has been?
The Ramsey Show
You Need To “Happen” to Your Life Instead if It Happening to You
You see what I just did there? That's what I felt. She's in her chair, folks. She cannot get to the mic. I pulled that subtly. It felt like you were laying down for me, and that is not you. I'll keep moving. One of the best things you can do for your finances is to have a really good tax pro in your corner.
The Ramsey Show
You Need To “Happen” to Your Life Instead if It Happening to You
that you can trust, that'll help advise you on the best moves to make for your situation or your small business, go to RamseySolutions.com slash TaxPro. I got her, now I got me. RamseySolutions.com slash TaxPro to find a CPA and enrolled agent that have been vetted by the Ramsey team. By the way, I have a local pro, and I'm telling you.
The Ramsey Show
You Need To “Happen” to Your Life Instead if It Happening to You
Well, I just never stress at tax time. You just don't want to mess with the IRS, all right?
The Ramsey Show
You Need To “Happen” to Your Life Instead if It Happening to You
I didn't mean to rhyme there.
The Ramsey Show
You Need To “Happen” to Your Life Instead if It Happening to You
Right. I'm the same way. I just don't want to go to jail.
The Ramsey Show
You Need To “Happen” to Your Life Instead if It Happening to You
I wouldn't do well. I just wouldn't look good in those stripes.
The Ramsey Show
You Need To “Happen” to Your Life Instead if It Happening to You
Hey, hey, hey. I knew you were going to say that. Don't say that. It's going to give me nightmares. I'm sorry. I got the shivers.
The Ramsey Show
You Need To “Happen” to Your Life Instead if It Happening to You
Let's go to Logan, who's joining us in Provo, Utah. Logan, how can we help?
The Ramsey Show
You Need To “Happen” to Your Life Instead if It Happening to You
Welcome to the Ramsey Show America, where we help you win with your money, win in your profession, and win with your relationships. Alongside Jake Warshaw, I'm Ken Coleman. Phone number to jump in is 888-825-5225. 888-825-5225. You ready to go, partner? Let's giddy up. She's ready to go. Jacob is up in Cincinnati, Ohio. Jacob, how can we help?
The Ramsey Show
You Need To “Happen” to Your Life Instead if It Happening to You
But it's working right now, and it just needs some rare coolant? Illegal coolant.
The Ramsey Show
You Need To “Happen” to Your Life Instead if It Happening to You
But it hasn't broke down yet. If I were to find a truck full of that illegal, outdated coolant, would it function?
The Ramsey Show
You Need To “Happen” to Your Life Instead if It Happening to You
But again, you're, listen, we're not being silly here, but I would, I would ask if I were in your shoes, I would find that coolant. I'll bet you can find that coolant.
The Ramsey Show
You Need To “Happen” to Your Life Instead if It Happening to You
Because all this illegal stuff is all this garbage crap coming out of Washington, D.C. or your statehouse. I'm sorry. It's all environmental crap that 10 years from now we're going to find out there's nothing wrong with it.
The Ramsey Show
You Need To “Happen” to Your Life Instead if It Happening to You
So in all honesty, if I was sitting in your shoes, Logan, I would be trying to find that coolant so that I could follow Jade's advice and save up the money to where we get a whole new unit. But what does the patch look like? And I don't like the fact that we got one dude out there in the holler who's the only guy.
The Ramsey Show
You Need To “Happen” to Your Life Instead if It Happening to You
I mean, I don't know if they have hollers in Utah. In the South, that's what we call a hollow. But the point is... Get another guy in there. Or find that coolant somehow.
The Ramsey Show
You Need To “Happen” to Your Life Instead if It Happening to You
How long have you been going without income? Probably three months now. And what were you doing prior to that? This was your business? Yeah.
The Ramsey Show
You Need To “Happen” to Your Life Instead if It Happening to You
Is this R22 Freon? Is that what we're talking about?
The Ramsey Show
You Need To “Happen” to Your Life Instead if It Happening to You
I'm on the trail, folks. You know, I would be the guy trying to get myself some of that black market free. You know a guy? I know, but it would be fun to find him. I mean, when you're staring at an $18,000 repair, I think it might be an adventure.
The Ramsey Show
You Need To “Happen” to Your Life Instead if It Happening to You
There's got to be some corner of the interweb.
The Ramsey Show
You Need To “Happen” to Your Life Instead if It Happening to You
There's some dude in Arkansas, I feel like, who's got himself barrels and barrels of this stuff.
The Ramsey Show
You Need To “Happen” to Your Life Instead if It Happening to You
We're going to search for it on the break. We'll be right back.
The Ramsey Show
You Need To “Happen” to Your Life Instead if It Happening to You
Welcome back to the Ramsey Show. Alongside Jade Warshaw, I'm Ken Coleman. So excited that you're with us. 888-825-5225. It's been quite the hour. We've had fun. The calls have been fantastic, very interesting, and we're having a little too much fun. So we'd love to hear from you today. Jade will help out on how to handle the money, and I'm going to help out on how to make more of it.
The Ramsey Show
You Need To “Happen” to Your Life Instead if It Happening to You
How about that for a combo? So if that's you today, we'd love to have you jump in. We're having a good time while we coach you up. All right, let's go to Indianapolis, Indiana, where David is joining us. David, how can we help?
The Ramsey Show
You Need To “Happen” to Your Life Instead if It Happening to You
Oh, thank you, sir.
The Ramsey Show
You Need To “Happen” to Your Life Instead if It Happening to You
You sound fit. You've got a great voice, so you're already off to a great start.
The Ramsey Show
You Need To “Happen” to Your Life Instead if It Happening to You
David, David, you're amazing. Your mindset and your spirit is all ready to be commended. So sorry you're dealing with this. How long ago was the diagnosis?
The Ramsey Show
You Need To “Happen” to Your Life Instead if It Happening to You
So I'm hitting you here because we've got to get to your debt situation with Jade, but we've got to figure out your income. You have zero income. So Jade can't help you on the debt until we figure out income. So take me back as quick as you can to the last time you had a 40-hour-a-week job. What were you doing and how much were you making? Take me back. I was working at a wellness retreat center.
The Ramsey Show
You Need To “Happen” to Your Life Instead if It Happening to You
Yeah, but that's why it's there.
The Ramsey Show
You Need To “Happen” to Your Life Instead if It Happening to You
Hang in there, David. I agree with my colleague on this one. Let's just stack cash right now because you can always move that cash back into the baby steps and keep on investing. Turn that back on once you get on the other side of this.
The Ramsey Show
You Need To “Happen” to Your Life Instead if It Happening to You
Very good. Very good. Yeah. Love that. Thank you, David. Let's go to Moe in Winnipeg, Canada. Moe, how can we help today?
The Ramsey Show
You Need To “Happen” to Your Life Instead if It Happening to You
Thank you. Thank you.
The Ramsey Show
You Need To “Happen” to Your Life Instead if It Happening to You
Okay. And so the trade thing, I'm getting somewhere, partner, I promise.
The Ramsey Show
You Need To “Happen” to Your Life Instead if It Happening to You
At least I'm trying to. So the trade thing you signed up for, what kind of trade work is that? Okay, and you're skilled and ready to go. You can do that. Yes. Okay, here's what I'm getting at. I had to get some information to go, Jacob, you don't sit around and wait for this opportunity. I'm glad you got signed up, and presumably something will come, but you're also in a rural area.
The Ramsey Show
You Need To “Happen” to Your Life Instead if It Happening to You
Thank you. Thank you.
The Ramsey Show
You Need To “Happen” to Your Life Instead if It Happening to You
So right now, it sounds like you're a pretty mobile guy. That means you've got to do whatever it takes and go wherever. So whatever and wherever are two of your favorite words right now. Love that. And what I'm talking about is that if you just need $1,200 to get by... then all you effectively need to do is find 40 hours a week at $10 an hour. Now, I think you can do way better than that.
The Ramsey Show
You Need To “Happen” to Your Life Instead if It Happening to You
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You Need To “Happen” to Your Life Instead if It Happening to You
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The Ramsey Show
You Need To “Happen” to Your Life Instead if It Happening to You
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The Ramsey Show
You Need To “Happen” to Your Life Instead if It Happening to You
But if you can be an electrician tradesman, that means you can do a lot of other things. So we're talking every handyman job possible, get to Cincinnati, Ohio, get somewhere where you can deliver something, show up and pick something up and place it on a shelf. You don't need a lot to live, which is the good news. okay? $1,200 is our baseline for living.
The Ramsey Show
You Need To “Happen” to Your Life Instead if It Happening to You
But I'll be honest with you, if she called, I'd have been on her team.
The Ramsey Show
You Need To “Happen” to Your Life Instead if It Happening to You
Yeah, I agree. In your house, who does the dishes?
The Ramsey Show
You Need To “Happen” to Your Life Instead if It Happening to You
I'm the dishwasher king.
The Ramsey Show
You Need To “Happen” to Your Life Instead if It Happening to You
Oh, no. What are we talking about? It's 2025. Who washes by hand anymore?
The Ramsey Show
You Need To “Happen” to Your Life Instead if It Happening to You
The fine china, yeah. I'm the dishes guy.
The Ramsey Show
You Need To “Happen” to Your Life Instead if It Happening to You
Stacey will help when it's a lot of dishes, but I'm on the kids all the time.
The Ramsey Show
You Need To “Happen” to Your Life Instead if It Happening to You
Oh, no, no. I like it. I am famous. When I go to bed at night, I like the kitchen to be clean because I'm the first one up in the morning making the coffee. And I don't like to walk into uncleanliness.
The Ramsey Show
You Need To “Happen” to Your Life Instead if It Happening to You
I don't want to see dishes in the morning.
The Ramsey Show
You Need To “Happen” to Your Life Instead if It Happening to You
It's not a good way to start my day. It messes my mind up. It's got to be clean.
The Ramsey Show
You Need To “Happen” to Your Life Instead if It Happening to You
So that's one of my things. And I've got other things I've got to do, too. And I do them, young men. I do them.
The Ramsey Show
You Need To “Happen” to Your Life Instead if It Happening to You
We'll exchange lists on the break, but we'll be right back. This is The Ramsey Show.
The Ramsey Show
You Need To “Happen” to Your Life Instead if It Happening to You
So based on that, Jade, if we can get you to where you're actually making a good bit more than that, then you can go through the debt snowball. And I'm bringing my partner here, but my friend, like, you've got to happen to this problem. You are so relaxed. I think you'd be a great yoga teacher.
The Ramsey Show
You Need To “Happen” to Your Life Instead if It Happening to You
All right, folks, welcome back to The Ramsey Show. Alongside Jade Warshaw, I'm Ken Coleman. Excited to be with you here as we take your calls about your money, about your profession, about your relationships. And by the way, excited to debut a new show on The Ramsey Network. It's my new project called Front Row Seat, something I've been cooking up for a long time. Very, very excited.
The Ramsey Show
You Need To “Happen” to Your Life Instead if It Happening to You
And this is a deep dive conversation show. That's how I broke into broadcasting many, many years ago. But we've added an element to it, Jade, and it is the audience themselves are a part of the show. So they get to sit in the room. They're in the round with us. And it's not just me asking questions or making points. These are conversations, not just a back and forth interview.
The Ramsey Show
You Need To “Happen” to Your Life Instead if It Happening to You
The audience themselves gets to be a part of the conversation by asking questions themselves. And so we made this. It's a beautiful set. It looks fabulous on YouTube. You can also get it via podcast. So on YouTube or your favorite podcast app, it's called Front Row Seat. What are we doing? We're deep diving in three areas. Content that will help you get better as a person.
The Ramsey Show
You Need To “Happen” to Your Life Instead if It Happening to You
So think the physical, the spiritual, the mental, the emotional. Uh-huh. things of that nature. And then we talk about your professional development, soft skills and hard skills. And then if you're in a leadership role, how to lead well. So we talk about it's get better, move up, and lead well. And that's what we're doing.
The Ramsey Show
You Need To “Happen” to Your Life Instead if It Happening to You
Oh, well, see, it depends on the age. But if you're in your late 30s, mid 30s, late 30s, 40s, you know this math really well. It's Inside the Actor's Studio, famous show on Bravo, meets Masterclass, which is a very popular app now, meets MTV Unplugged.
The Ramsey Show
You Need To “Happen” to Your Life Instead if It Happening to You
So bottom line is it's a conversation show, a wide variety of guests, but you see yourself in the audience as they sit there and ask questions. So it's a really fun format. It's called Front Row Seat. Get it on YouTube. Subscribe on YouTube. Like it. And you can also get it on your favorite podcast app. So fun stuff there.
The Ramsey Show
You Need To “Happen” to Your Life Instead if It Happening to You
Toronto is where we're going next, and Chris is sitting there waiting for us. Chris, how can we help?
The Ramsey Show
You Need To “Happen” to Your Life Instead if It Happening to You
Great. We're having a blast. What's going on?
The Ramsey Show
You Need To “Happen” to Your Life Instead if It Happening to You
great news is is like i'm sure you're great at yoga but right now bro like you don't need to be chill you need to be running around like your pants are on fire because i think your pants are on fire 100 they they are i put in four applications in person today did the same thing uh
The Ramsey Show
You Need To “Happen” to Your Life Instead if It Happening to You
So it's 45,000 if he did it per year.
The Ramsey Show
You Need To “Happen” to Your Life Instead if It Happening to You
I'm not. I'm going to jump in. Listen, I don't want to knock you putting in applications, but we don't put in applications in a moment when our pants are on fire. Do you know what we do? We find out who is hiring. We ask everybody that knows anybody, and in a small rural area, trust me, it's not hard to find out who's actually hiring.
The Ramsey Show
You Need To “Happen” to Your Life Instead if It Happening to You
Good call. Got to run. This is the Ramsey Show.
The Ramsey Show
You Need To “Happen” to Your Life Instead if It Happening to You
And this may be like taking a page out of my buddy Mike Rowe's famous show, Dirty Jobs. Yeah. If somebody's shoveling you-know-what on a farm right now, and they don't have anybody that's showing up to do that, that's where you are. Because you're going to shovel you-know-what all day today. Today. For sure. For sure. Okay. Yes. All right, now let's assume you've got some money coming in.
The Ramsey Show
You Need To “Happen” to Your Life Instead if It Happening to You
Welcome back to The Ramsey Show. I'm Ken Coleman. Jade Warshaw with me. 888-825-5225 is the phone number. Why ReFi refinances defaulted private student loans and builds a custom loan based on your ability to pay. Now you guys, private student loans, are different than federal student loans like Sally Mae. So to learn more about this custom refinancing option and a lump sum payoff option,
The Ramsey Show
You Need To “Happen” to Your Life Instead if It Happening to You
You could qualify for after 24 months. Go to Yrefy.com slash Ramsey. That's the letter Y-R-E-F-Y dot com slash Ramsey. It may not be available in all states.
The Ramsey Show
You Need To “Happen” to Your Life Instead if It Happening to You
Yeah, I don't think you're going to look like a job hopper when you're 19, and this is just you making money to go to college. So the narrative on this would be, I got a chance to make more money. I was working at the bank. I got an opportunity to make more money, and all of that was going towards paying my tuition, so I took it. That's the narrative. You're not a job hopper.
The Ramsey Show
You Need To “Happen” to Your Life Instead if It Happening to You
So good question, though.
The Ramsey Show
You Need To “Happen” to Your Life Instead if It Happening to You
I don't think there's any set rule, but if you were to look at one's resume and you were to see multiple jobs, In a span of a year and a half, two years.
The Ramsey Show
You Need To “Happen” to Your Life Instead if It Happening to You
And it doesn't have a narrative. In other words, it wasn't, I got promoted. Okay, which is, that's not job hopping. That is, I got promoted. Going to the next level. It's not, I got recruited. And so I was at company A, company B came along with a great offer. And so I upgraded to the tune of a title and a pay bump. That doesn't make you look like a job hopper unless you keep doing that.
The Ramsey Show
You Need To “Happen” to Your Life Instead if It Happening to You
so if you see multiple of those it'll paint the picture is my point somebody goes oh you don't hang around for very long at all you're looking for the next best thing so if I hire you I may not have you in 6 to 12 months that's what you're worried about but if it is a legitimate narrative And you aren't just taking the next best thing.
The Ramsey Show
You Need To “Happen” to Your Life Instead if It Happening to You
You know, you aren't playing the field, as they used to say when I was in high school. You know, you were called a player if you had too many girls on your arm in a short amount of time. You would have been called a player.
The Ramsey Show
You Need To “Happen” to Your Life Instead if It Happening to You
Walk Jade through your debt situation.
The Ramsey Show
You Need To “Happen” to Your Life Instead if It Happening to You
Right. So if you want to eventually settle down and all the girls in your high school have seen you play in the field, then maybe they don't trust you. They're like, we don't want you over here. Same deal with a potential employer. They want to feel like you're the marrying type.
The Ramsey Show
You Need To “Happen” to Your Life Instead if It Happening to You
So it's kind of straightforward. It's common sense. Let's go to Shannon in Phoenix, Arizona. Shannon, how can we help?
The Ramsey Show
You Need To “Happen” to Your Life Instead if It Happening to You
So on a really good month, your mortgage is still about 50%? Ooh, mama. If not more of your income?
The Ramsey Show
You Need To “Happen” to Your Life Instead if It Happening to You
And you moved, you moved to where you are now because of your husband's job or your business?
The Ramsey Show
You Need To “Happen” to Your Life Instead if It Happening to You
Well, what is rent? What if you guys were renting in your area right now? What would that set you back?
The Ramsey Show
You Need To “Happen” to Your Life Instead if It Happening to You
If you can come up with that money, then get out, then rent, take care of this other place that stayed away and get out of that. It feels like that's the progression.
The Ramsey Show
You Need To “Happen” to Your Life Instead if It Happening to You
Favorite call of the month already. We still have a lot to go. A peacock attacked his truck, James. You should see the truck.
The Ramsey Show
You Need To “Happen” to Your Life Instead if It Happening to You
Welcome back to The Ramsey Show. I'm Ken Coleman. Jade Warshaw is alongside. And our last caller, what a story. Yeah. They move from one state to another. Very expensive house in the one state they leave behind. Can't sell it because it's got about $150,000 worth of foundation repair. It's cracked. Nobody wants it. They couldn't give it away, or at least that was their statement.
The Ramsey Show
You Need To “Happen” to Your Life Instead if It Happening to You
And then they moved to the Phoenix area. Oh, by the way, they also got $150,000 worth of solar on that house. They moved to the Phoenix area, buy a house that's costing them about $4,500 a month. It's over half of their take home.
The Ramsey Show
You Need To “Happen” to Your Life Instead if It Happening to You
No, half of their gross. Yeah, it is. And so we were sitting there going, okay, wow. And they can't sell the current house without taking about a $30,000 loss.
The Ramsey Show
You Need To “Happen” to Your Life Instead if It Happening to You
They've hardly been in it. And so we ran up into the break there. And so you were thinking through this a little bit. You wanted me to bring this back up because they don't have a ton of options.
The Ramsey Show
You Need To “Happen” to Your Life Instead if It Happening to You
I would be working like crazy. I mean, can we make an additional $2,500 a month?
The Ramsey Show
You Need To “Happen” to Your Life Instead if It Happening to You
That would be my target. I would always look at that and go $2,500 a month is $30,000 in 12 months.
The Ramsey Show
You Need To “Happen” to Your Life Instead if It Happening to You
So I'm going to start there. I at least go, okay, what would have to be true for me to bring that in to be able to make that difference? Because now they can reset. That's right. Because next, the big hurdle they have is they got to come up with 150 grand to fix the foundation in another state to be able to unload that out.
The Ramsey Show
You Need To “Happen” to Your Life Instead if It Happening to You
So I can tell you, there's a lot of hard work and long hours ahead of them to be able to get out of this mess. But at least They create some margin by selling the current home and getting into a rent situation.
The Ramsey Show
You Need To “Happen” to Your Life Instead if It Happening to You
can you imagine being that that kind of up to your eyeballs and then you got a house that you can't even fix you want to talk about the old millstone around the neck analogy that's what that was 100 so tough stuff there but it's doable but i mean we're talking about enormous intensity for a for a pretty good season to dig out of that it's a mountain let's go to richard in chicago illinois richard how can we help hey um yeah my name is richard i'm 28 years old uh
The Ramsey Show
You Need To “Happen” to Your Life Instead if It Happening to You
You got a flock of peacocks near you, Jacob? Is that what's going on? Yeah, I live near my grandmother. Does she have a pet peacock? She sure did. She sure did. Oh, you didn't hurt the peacock, did you, Jacob? No, no. Okay, she did. He said that in the past. I thought maybe he saw the peacock pecking his quarter panel and he took care of the peacock.
The Ramsey Show
You Need To “Happen” to Your Life Instead if It Happening to You
Yeah. Lay out the totals for us, the credit card. Go smallest credit card debt up to the largest. Okay.
The Ramsey Show
You Need To “Happen” to Your Life Instead if It Happening to You
Okay, listen, I... So she's not paying any rent to you? I haven't asked, no.
The Ramsey Show
You Need To “Happen” to Your Life Instead if It Happening to You
Bro, you're too broke to be dating somebody who's living with you and not paying her share of the rent. That's just a fact.
The Ramsey Show
You Need To “Happen” to Your Life Instead if It Happening to You
How about a budget, Richard?
The Ramsey Show
You Need To “Happen” to Your Life Instead if It Happening to You
So you can answer the question, how much money could you pay off debt? How much could you pay towards debt every month after you're paying off the basics? Your utilities and food and gas and all that. What could you put towards debt?
The Ramsey Show
You Need To “Happen” to Your Life Instead if It Happening to You
That's what I was trying to figure out. Okay.
The Ramsey Show
You Need To “Happen” to Your Life Instead if It Happening to You
And if you're going to shack up with the lady, she's got to pay her portion. Come on.
The Ramsey Show
You Need To “Happen” to Your Life Instead if It Happening to You
Is that unacceptable in today's – I have no clue. I've been married so long, I don't even have the floggiest idea. If two people are living together in a romantic relationship, are they both paying equal share of rent?
The Ramsey Show
You Need To “Happen” to Your Life Instead if It Happening to You
Studio audience? Yes, that's the deal?
The Ramsey Show
You Need To “Happen” to Your Life Instead if It Happening to You
But I mean, if we're going to be dating and we're jumping into a house, I'm going to go, hey, this is my part of the rent. This is yours. Right?
The Ramsey Show
You Need To “Happen” to Your Life Instead if It Happening to You
Sell the house, Richard. Got to sell the house. Sell the house.
The Ramsey Show
You Need To “Happen” to Your Life Instead if It Happening to You
Do you want to hold him over and give me some advice?
The Ramsey Show
You Need To “Happen” to Your Life Instead if It Happening to You
Oh, yeah, yeah. I'm going to get some peps at AC after that call. This is the Ramsey Show.
The Ramsey Show
You Need To “Happen” to Your Life Instead if It Happening to You
Another reason not to buy a shiny truck that's not paid for. The Peacock.
The Ramsey Show
You Need To “Happen” to Your Life Instead if It Happening to You
This is the Ramsey Show.
The Ramsey Show
You Need To “Happen” to Your Life Instead if It Happening to You
Welcome back to the Ramsey Show alongside the incomparable, fabulous Jade Warshaw. I'm Ken Coleman. The phone number is 888-825-5225. If you want to jump in, 888-825-5225. Sam is up in Birmingham, Alabama. Sam, how can we help today?
The Ramsey Show
You Need To “Happen” to Your Life Instead if It Happening to You
I'd like to know more. Why are we doing this?
The Ramsey Show
You Need To “Happen” to Your Life Instead if It Happening to You
He's dealing with guilt.
The Ramsey Show
You Need To “Happen” to Your Life Instead if It Happening to You
Brilliant move. Yeah. I remember that.
The Ramsey Show
You Need To “Happen” to Your Life Instead if It Happening to You
Oh, you're not ready to let go.
The Ramsey Show
You Need To “Happen” to Your Life Instead if It Happening to You
I'm sick to my stomach for you, Sam. You have to take, oh my goodness, what's the snowball? Where are we at on the snowball? Did we get there?
The Ramsey Show
You Need To “Happen” to Your Life Instead if It Happening to You
thousand dollars a month in expenses three to six months of basic living expenses so just for round numbers let's say let's say your number let's say you had five thousand dollars worth of expenses every month what we're saying is is that's three months is fifteen thousand six months is thirty thousand you tracking Yep. All right. So that's what we mean by an emergency fund.
The Ramsey Show
You Need To “Happen” to Your Life Instead if It Happening to You
We give you the kind of the we say three months is a minimum. So that'd be 15,000 on this example. That's what she's talking.
The Ramsey Show
You Need To “Happen” to Your Life Instead if It Happening to You
my payments on my cards and my truck okay what kind of income let's just assume that we could snap our fingers and give you the income that you used to have what do you need to make at a minimum to be able to cover all your payments and have a little bit of margin what's that number
The Ramsey Show
You Can Make Progress Even When It Feels Impossible
Have you floated this idea to them?
The Ramsey Show
You Can Make Progress Even When It Feels Impossible
So the good news is they weren't mad about it. They just kind of kicked the can down the road.
The Ramsey Show
You Can Make Progress Even When It Feels Impossible
And they may need some direction, Jade. Yeah. In other words, when you tell those guys, and you already told them what you wanted to happen. So presumably when you sat them down and told them what you were going or wanted to do, you played out the numbers. They mean if you have it, you probably need to do that.
The Ramsey Show
You Can Make Progress Even When It Feels Impossible
Here's how we see this going down. We walk away with this. You walk away with this. They just – it seems very passive, and that to me tells me they're very afraid.
The Ramsey Show
You Can Make Progress Even When It Feels Impossible
Question for you, Jade. Because they are his in-laws, I think his wife needs to take the lead. I wanted you to speak to that.
The Ramsey Show
You Can Make Progress Even When It Feels Impossible
This is her. She needs to be talking to her mama and daddy, not putting it on you. And I'm not saying that she's not. But I wanted you to speak to that.
The Ramsey Show
You Can Make Progress Even When It Feels Impossible
And let me also say, I hope it doesn't happen, James. But there's a reason why if you were to call us in the front end of this and say, should we do this? We'd have been like, no, in slow motion, you know, because you can see that this thing could get messy really fast. It's already messy. The question is, is it going to spill out further? Yeah.
The Ramsey Show
You Can Make Progress Even When It Feels Impossible
And I'm going to say this. I'll give enough time for my colleague to say something different if she disagrees. I think this is rip the Band-Aid off type stuff. You guys already sat down and we slowly started to pull the Band-Aid off. And they were like, oh, oh. And it's like, come on.
The Ramsey Show
You Can Make Progress Even When It Feels Impossible
Get it all in there. It's going to sting. I think the next conversation is your wife takes the lead and we rip the Band-Aid off. That's the only thing I think that's going to work now because there's pain regardless. Let's do the least amount of pain possible. Oh, it hurts, Jade. But I want it to hurt for just a little nanosecond.
The Ramsey Show
You Can Make Progress Even When It Feels Impossible
Great reference. Jade wins the Ramsey show today.
The Ramsey Show
You Can Make Progress Even When It Feels Impossible
Let's go to Terry in Manchester, New Hampshire. Terry, how can we help today?
The Ramsey Show
You Can Make Progress Even When It Feels Impossible
What's happening right there? Can we, can we learn a little bit more about that response?
The Ramsey Show
You Can Make Progress Even When It Feels Impossible
Hold on a second. While we're on this list, I want to just cover what you've given Jade so far. How much of it are you on the hook for?
The Ramsey Show
You Can Make Progress Even When It Feels Impossible
Yeah, but the thing that I'm hearing here, I'm just pointing this out real quick. Jade's on top of this. But for everybody listening and watching, you don't know what's going on in your finances. That's what we're hearing. And so you don't have a clear grasp of what you're doing with your money. And that's the bigger issue here.
The Ramsey Show
You Can Make Progress Even When It Feels Impossible
What you're calling us about today is symptomatic of the fact that you're just kind of floating. Yeah, just all over the place. Am I right?
The Ramsey Show
You Can Make Progress Even When It Feels Impossible
And you got sued. That woke you up.
The Ramsey Show
You Can Make Progress Even When It Feels Impossible
This is the Ramsey Show, where America comes to hang out and have a conversation about their life, specifically their money, their career and work, and their relationships. The phone number to jump in today is 888-825-5225, 888-825-5225. Alongside the fabulous Jade Warshaw, I'm Ken Coleman. We're here together for you today. Let's get it going. Kathy's up in Dallas, Texas.
The Ramsey Show
You Can Make Progress Even When It Feels Impossible
What if we did a big yard sale, Terry?
The Ramsey Show
You Can Make Progress Even When It Feels Impossible
Yeah, you got to get your hands around your finances. This whole time I'm sitting here listening to you, Terry, I don't know if either one of you, Terry or Jade, I'm pretty sure James, our fearless leader, has seen the viral July 4th video every year. It's the guy's in the wheelchair and his buddy lets him light a bottle rocket. Stop it. Have you seen that video?
The Ramsey Show
You Can Make Progress Even When It Feels Impossible
And the whole time I'm just wanting to yell, good lord, Terry, Terry, Terry. I don't know why my brain went there. I wanted to say, Terry, you don't even know if it's real credit card debt. That's a good reference.
The Ramsey Show
You Can Make Progress Even When It Feels Impossible
I didn't want to interrupt you. No, that's good. Because I was like, if I throw, if I'm in the middle of you giving advice, I start going, Terry, back away, Terry, good lord. You would look at me like I had horns going out my head.
The Ramsey Show
You Can Make Progress Even When It Feels Impossible
And I want to say for our audience who's going, what is Ken talking about? Is it really that funny? It is absolutely. Just type in Terry Fireworks on YouTube and sit back and enjoy yourself because it brings me so much joy every year. I find seven new people to text that to, James, every July 4th.
The Ramsey Show
You Can Make Progress Even When It Feels Impossible
It works both ways. What's the lesson? We want to back away from the mess, get our hands in there every dollar, which, by the way, he did. He did.
The Ramsey Show
You Can Make Progress Even When It Feels Impossible
I want to point out, James, our studio audience is watching it on their cell phones right now. There's a dude who looks like Joe Rogan out there who is shaking.
The Ramsey Show
You Can Make Progress Even When It Feels Impossible
It's one of the great videos of all time. Do we have it to roll?
The Ramsey Show
You Can Make Progress Even When It Feels Impossible
Yeah, Backup Terry. Am I right, folks? They are thanking me out there.
The Ramsey Show
You Can Make Progress Even When It Feels Impossible
Everybody's loving it. Look at these people enjoying that video. That's the gift that keeps on giving, by the way. It really is. Ever have a bad day? Just watch that and think, well, I could be Terry.
The Ramsey Show
You Can Make Progress Even When It Feels Impossible
Yeah, totally different environment.
The Ramsey Show
You Can Make Progress Even When It Feels Impossible
Whoa, whoa, whoa. The Christian school would be a two-and-a-half-hour commute?
The Ramsey Show
You Can Make Progress Even When It Feels Impossible
Oh, trust me. Trust me. I grew up on the coast of Virginia, so not too far from you, and I know what traffic is like in northern Virginia and down and all that, so I get that.
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You Can Make Progress Even When It Feels Impossible
No. I think that's a fallback. I think that's probably our last option to escape the burnout that you're experiencing right now, but I don't think it's our best option. So what do you make now? What's your income?
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You Can Make Progress Even When It Feels Impossible
And you've been teaching for a long time. So my question is, if I'm you, my first move is to look at private schools in the D.C. area. First move, just to go, okay, it doesn't have to be a Christian school and doesn't need to be an hour away, but I know the amount of income in Washington, so I'm going to start.
The Ramsey Show
You Can Make Progress Even When It Feels Impossible
First thing I'm going to do if I'm you is I start looking at private schools, the expensive ones where they pay their teachers very well, and again, you've got a very different clientele. So I'd start there. The second thing I'd start looking at is community colleges or colleges, if you're qualified for that. You may not be, but I'm just throwing out my immediate reaction. Right. Okay.
The Ramsey Show
You Can Make Progress Even When It Feels Impossible
Okay. Well, you can probably kiss that $500,000 goodbye. Yeah. So let's take that off the debt list just for the functionality of this.
The Ramsey Show
You Can Make Progress Even When It Feels Impossible
Third, because you've been teaching for 16 years and you're a trained trainer, I would be looking at training jobs, jobs where the company will bring you in and they'll train you on how they need you to train, whether it be training through HR or something like that. But I would be looking at any kind of training job in corporate America where because you're already qualified.
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You Can Make Progress Even When It Feels Impossible
And so they can look at you and go, here's a woman that's been teaching for 16 years. She knows how to teach. That's where I would be starting because I think sometimes public school, I know so. I've talked to so many, so many teachers over the years. I've counseled them on the Ken Coleman show.
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You Can Make Progress Even When It Feels Impossible
And they all think the same thing, that they're only qualified to teach in a public or private school setting, that they can't do anything else. And that's just simply not the case. You would admit to Jade and I today that you know how to train people, don't you? I hope so. Come on. You do. Ruth, you know how to instruct, correct? Correct. Yes. Okay.
The Ramsey Show
You Can Make Progress Even When It Feels Impossible
So I would be looking at anything that involves instruction. And imagine how fun it would be to instruct somebody who wants to be instructed.
The Ramsey Show
You Can Make Progress Even When It Feels Impossible
All right, then. So we've got to open up the possibilities. And I would put the situation that you brought to us, the two and a half hour commute for an 80% pay, absolutely last worst case scenario. Jade?
The Ramsey Show
You Can Make Progress Even When It Feels Impossible
Yeah. So let's just brainstorm for a minute or two. What does your brain do with the information I just gave you? What started popping in your head? Give me the fears if you've got fears. If you've got questions about what I said, hit me.
The Ramsey Show
You Can Make Progress Even When It Feels Impossible
It might just not work. No, you wouldn't. That's how I teach. I know that's how you teach because that's how you had to teach a kindergartner.
The Ramsey Show
You Can Make Progress Even When It Feels Impossible
Why aren't you thinking about some of these high-end prep schools and private schools in the D.C. area?
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You Can Make Progress Even When It Feels Impossible
I know the area. How far out are you?
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You Can Make Progress Even When It Feels Impossible
Are you like, what are you in Loudoun County?
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Prince William. Okay. Well, what about Prince William County? I mean, there's a lot of spillover. What are the, okay, here's a homework assignment. I'm going to speak to you in your language. I want you to find all of the private schools in your County and a County or two over. You don't have to go into the city because of that nightmare of traffic, but, but are, but have you done that?
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You Can Make Progress Even When It Feels Impossible
Okay. I'd still look, is my point. You have got, you don't know what you don't know. You're giving me two-year-old – now, again, I'm not thinking that it's going to be a big difference here, but the first thing you said to me is, well, I looked at another county, not the county you were in. So my point is – Well, yeah, my county doesn't have a high-end one. Okay, great.
The Ramsey Show
You Can Make Progress Even When It Feels Impossible
But my point is, you see what we're doing here? If I were coaching you for an entire hour, we would be turning over a lot of rocks. And so you need to be looking online at openings that are involving instruction. If nothing else, go into ChatGPT and put in everything that you have learned how to do as a teacher. And don't say helping kids with glue and popsicle sticks.
The Ramsey Show
You Can Make Progress Even When It Feels Impossible
I mean, I know how to lesson plan. I know how to instruct and teach, you know, whatever, whatever, whatever, and begin to just see what is out there and then go to these job sites and start to see what's out there. Then the other thing you've got to do is you got to talk to everybody that you know. everybody and say, hey, this is what I've been doing.
The Ramsey Show
You Can Make Progress Even When It Feels Impossible
I now am looking to transition into any kind of role where I'm spending most of my day in an instruction capacity and watch the opportunities get suggested to you. You have got to put the word out and then let things come to you. You've got to go look. And when you look, you will see things you have not seen before. You tracking with me?
The Ramsey Show
You Can Make Progress Even When It Feels Impossible
Ruth, you remember the last time you and your husband bought a car, like a nice car? You remember seeing it everywhere for about three or four or five days? Isn't that a phenomenal effect? That's a psychological effect. And what that is is the power of focus. And we are so focused, Jade, on buying that car, then we begin to see it everywhere. And the car fairy didn't just drop that in.
The Ramsey Show
You Can Make Progress Even When It Feels Impossible
And so what I'm trying to teach you here is to focus. I heard you about to ask a question. Hit us with a question. What do you got?
The Ramsey Show
You Can Make Progress Even When It Feels Impossible
No, because you said you have 16 years before you'd be able to get it. Correct. 14, yeah. 14, sorry. I want you to imagine really quick, 14 more years of what you've been experiencing that drove you to tears at the start of this call. Is that worth it? Yeah. Is that worth it?
The Ramsey Show
You Can Make Progress Even When It Feels Impossible
No, because you can go make more money doing what I'm telling you to do. And you're going to invest that money the way we've taught you to invest that money. Jade, final word on that. I think she needs a little pep talk here.
The Ramsey Show
You Can Make Progress Even When It Feels Impossible
That's a good word. Go Ruth, go.
The Ramsey Show
You Can Make Progress Even When It Feels Impossible
This is The Ramsey Show, where America talks about their money, their profession, and their relationships. 888-825-5225 is the phone number to jump in. 888-825-5225. I'm Ken Coleman, joined by the fantastic and talented lady, Jade Warshaw. Always fun.
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You Can Make Progress Even When It Feels Impossible
Yeah, there you go. You've got to turn that mic on after I brag about you there. Let's get right to it. You ready to roll? Rock and roll. Serenity is joining us in Houston, Texas. How can we help today?
The Ramsey Show
You Can Make Progress Even When It Feels Impossible
Great. We're happy to talk to you. What's up today?
The Ramsey Show
You Can Make Progress Even When It Feels Impossible
Uh-oh. How much outside the budget?
The Ramsey Show
You Can Make Progress Even When It Feels Impossible
Here we go. Now, you and I went viral one time before talking about one of these types of trips.
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You Can Make Progress Even When It Feels Impossible
All right. So let's talk about how to dig you out of this. So if I'm if I'm paying attention, I'm trying to. We're really talking about I think Jade's right. Let's assume that you're going to have to pay half. Hopefully that doesn't happen. But we haven't even started this fight. So that means you would you would owe two hundred fifty thousand if the judge split it down the middle. Is that correct?
The Ramsey Show
You Can Make Progress Even When It Feels Impossible
But now she's not in the wedding. Did you catch that?
The Ramsey Show
You Can Make Progress Even When It Feels Impossible
Okay. So this is great. Let me get a little more information because I knew she was about ready to rant.
The Ramsey Show
You Can Make Progress Even When It Feels Impossible
So you've paid for the hotel and the airfare, and if I heard you right, you have $400 of spending money for this weekend, three-day weekend, correct?
The Ramsey Show
You Can Make Progress Even When It Feels Impossible
Is there anything happening that's not $150 every time they go do it? No.
The Ramsey Show
You Can Make Progress Even When It Feels Impossible
away from her moment you know how many okay sorry I'm asking a few more questions how many events does she have scheduled and what would that cost you I'm trying to be real here at 150 per pop how many things does she have scheduled and what's that going to cost you Ken I'm busting I know you are but you're going to bust too soon on this deal I got to get some information well how much are we talking about Serenity
The Ramsey Show
You Can Make Progress Even When It Feels Impossible
I'm trying to help her with her reality. I know you're upset that she's even going, but my point is, see, this is how we went viral before. I'm trying to help her in the moment. So in the moment, okay, you can do two events. Yes. That's all you can do. You got two events at $150. That leaves you a little $100, and you come up with a headache on a couple of these deals and miss it.
The Ramsey Show
You Can Make Progress Even When It Feels Impossible
But she said she couldn't, so let's clarify. Serena, did you go to the hotel? You know for sure.
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You Can Make Progress Even When It Feels Impossible
That's what I'm saying. Here's the deal. I'm always thinking about the big picture. This isn't just a money play. She wants to be a part of this weekend. Special lady in her life. Long time friend. I say go and you budget the $400. You got $400? You can only spend $400.
The Ramsey Show
You Can Make Progress Even When It Feels Impossible
Am I right? Yes. Yeah, that's reasonable. And you have two options. You tell her, hey, listen, I'm getting out of debt. No, you can't tell her that. Sure she can. She can speak straight up and go, look, I've got $400 to spend. I'm going to come to this outing, and I'm going to come to this outing. I can't do the rest. I said she has options. She doesn't have to do that.
The Ramsey Show
You Can Make Progress Even When It Feels Impossible
I'm not suggesting she does that, but I don't know their relationship. Or, you know what?
The Ramsey Show
You Can Make Progress Even When It Feels Impossible
We've all, I'm going to be real straight up right now. We've all been to a thing where we didn't want to do all the things.
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You Can Make Progress Even When It Feels Impossible
And we go, I got a headache or my stomach doesn't feel very good right now. I mean, come on. I think it calls for that because you're there. She feels loved and supported. You don't want to feel ostracized for your Fiann Ramsey cash.
The Ramsey Show
You Can Make Progress Even When It Feels Impossible
Okay. Well, now I can get around that.
The Ramsey Show
You Can Make Progress Even When It Feels Impossible
That's where you make a couple friends. You know any other girls going on this trip? Mm-hmm. There you go, Ken. You see where I'm going? Yeah, it's a group. It's a group. Hey, but you know the girls.
The Ramsey Show
You Can Make Progress Even When It Feels Impossible
Okay, for what we know today. So my question is, what about your house? Is your house paid for?
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You Can Make Progress Even When It Feels Impossible
I'm telling you what I'm doing. I'm sitting here like this. I'm looking at the menu, and I'm going, hey, Jay, do you want to split a salad?
The Ramsey Show
You Can Make Progress Even When It Feels Impossible
Or however it is you all talk to each other. That's my best impersonation.
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You Can Make Progress Even When It Feels Impossible
I mean, Caesar salad, soup. I could stretch $400. You don't want to go to brunch. How come you're not coming to brunch? We're not ordering alcohol, unfortunately. I got to get my TPS reports in. I had to leave work.
The Ramsey Show
You Can Make Progress Even When It Feels Impossible
See, I don't think that's lying. I think that is just socially kind of we're just creating some harmony. I don't want to come to everything. Don't tell me you've skipped out on some invite. I bet you Stacey and I have invited you and Sam and you gave me a little excuse at once or twice. You've never given me an excuse?
The Ramsey Show
You Can Make Progress Even When It Feels Impossible
But you've done it before. I've done it before. All right, then. I think we can call that a little white lie that doesn't hurt anybody.
The Ramsey Show
You Can Make Progress Even When It Feels Impossible
By the way, Serenity, since I'm so full of helpful tips on this call, I'm feeling pretty good right now. How long do we have before we go on this trip? It's next week.
The Ramsey Show
You Can Make Progress Even When It Feels Impossible
Next week. Okay. I'm going to sell $200 or $300 worth of stuff around my house that I don't need. No. Yes. Pay for the trip.
The Ramsey Show
You Can Make Progress Even When It Feels Impossible
What'd you say, Serenity? Say it again.
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You Can Make Progress Even When It Feels Impossible
Then we make everybody happy and we don't go backwards in our baby steps journey. Jade, you're too cheap. You gotta be a friend. No, man. You gotta be a friend.
The Ramsey Show
You Can Make Progress Even When It Feels Impossible
How much is the current house worth if you were to sell it today?
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You Can Make Progress Even When It Feels Impossible
Gotta go. A $1,200 friend? I still gotta get the gift, Ken. $600 max.
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You Can Make Progress Even When It Feels Impossible
If you are tired of living paycheck to paycheck and wondering what in the world is happening to your money, first thing you got to do is get on a budget. And this is for you. Our team is hosting free budgeting trainings this month. That's where you're going to learn step-by-step how to make and stick to a budget using every dollar.
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Get all of your biggest budgeting questions answered in the live Q&A. Folks, listen, we've coached, I'm telling you, thousands upon thousands upon thousands of people on this, and they always get a little hung up on the newness, the unknown of a budget. And fear of the unknown is the number one crippling factor in any area of life when you want to go from where you are to where you want to be.
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And knowledge is the bridge. And take advantage of these. These are free webinars. Everydollar.com slash webinar. Everydollar.com slash webinar. It just takes all the fear away, and you realize, hey, this is actually an app, a budget app that I can use, and it's going to help me win. So take advantage of that. Jessica's up next in Dallas, Texas. Jessica, how can we help today?
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You Can Make Progress Even When It Feels Impossible
Well, that's not your problem anymore because this is going to get hashed out between the lawyers. So the way you started this call is how do I get rid of this debt? And best that we can tell, what we're operating off of right now, Jade, is $250,000. We think worst-case scenario. We can't guess what may be out there, but what we know today, how would you get out of it? And that becomes the issue.
The Ramsey Show
You Can Make Progress Even When It Feels Impossible
Wow. That's great. I thought this call might go a different direction when you started with the, I'm helping my baby sister, but it seems like this is going well.
The Ramsey Show
You Can Make Progress Even When It Feels Impossible
I think it's a great point. The only thing I would add to that, Jessica, is, and you've done this, it sounds like, stay in the posture of guiding, not directing. Because that older sister, it could be very easy, and if she starts to make other moves, moves that maybe you wouldn't make, doesn't mean that they're against what we teach at Ramsey, but it might be different than what you would do.
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You Can Make Progress Even When It Feels Impossible
Just stay in that guide. stature, and I think that'll help your relationship as she continues to mature. Great job, both of you. That's such a great story. Debbie's up in Tampa, Florida. Debbie, how can we help?
The Ramsey Show
You Can Make Progress Even When It Feels Impossible
No way. Well, hello, you hit that detail. What kind of an attorney are you?
The Ramsey Show
You Can Make Progress Even When It Feels Impossible
Tell us about that really quick. How much do you owe on it, and what could you sell it for?
The Ramsey Show
You Can Make Progress Even When It Feels Impossible
No, we're not beating up on you. We're actually trying to help you here. So my question is, what are you going to make this year?
The Ramsey Show
You Can Make Progress Even When It Feels Impossible
So sorry. But this investor property is a gift. Get out of it and get completely debt free and then continue to rebuild. You'll get there. That's what we would do. So hopefully you will do that.
The Ramsey Show
You Can Make Progress Even When It Feels Impossible
All right, so between the house as an asset, Jade, and you making $130, this is not the end of the world. No. That's the one thing I wanted to hear.
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You Can Make Progress Even When It Feels Impossible
All right, time for our question of the day, which is brought to you by Y-Refi. Y-Refi refinances defaulted private student loans that other places won't touch. And they're going to help you get your life back. So kick your private student loan debt to the curb at Y-Refi.com slash Ramsey. That's the letter Y-R-E-F-Y dot com slash Ramsey. It may not be available in all states.
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You Can Make Progress Even When It Feels Impossible
I agree. I was going to get your take on this. As I was reading that, they only owe $65,000 on the house. Mm-hmm. Not a lot.
The Ramsey Show
You Can Make Progress Even When It Feels Impossible
But it looks like she was torn between do we pay the house off sooner versus the 15% baby step four? And we know the answer. And I think she kind of knows that. But we want to see her. And if she can even work part time. um, after the husband and if he's making the income, let's get the 15% done every month. Now we're paying towards our retirement. And if she wants, that's baby step four.
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You Can Make Progress Even When It Feels Impossible
And if she wants to work towards, you know, paying the house off, uh, if they've, if they've not been investing with the kids, uh, for their futures, stick with the plan because in the end, the momentum and baby step four and five will propel them to six to pay the house off. It's not that much. Um, don't take it out of order. And you can understand the intensity, right? Yes.
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You Can Make Progress Even When It Feels Impossible
But you really want to take advantage of the fact that you don't owe much on your home and you've got to start piling cash for retirement. That's why baby step four, 15% of your income is so vital.
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You Can Make Progress Even When It Feels Impossible
Yeah. All right, let's go to Charleston, South Carolina, one of my favorite, favorite cities in the South. John is there. John, how can we help today?
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You Can Make Progress Even When It Feels Impossible
Well, we can handle funky, all right? It doesn't scare us.
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You Can Make Progress Even When It Feels Impossible
I'm thinking one of the things you need to do is get a better phone. I think that's probably what all of us are wondering. We're having a hard time hearing. Well, yeah, you're coming in and out. So are you in a tunnel? Are you moving around?
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You Can Make Progress Even When It Feels Impossible
So what is your current contract length right now at making $250 a year for how many years? How many years you got left?
The Ramsey Show
You Can Make Progress Even When It Feels Impossible
Are you doing well right now? How's your performance?
The Ramsey Show
You Can Make Progress Even When It Feels Impossible
What would cause your performance to start going down, since you can't tell me what sport this is? What in the world would cause, what would have to be true for you to get into a place where your performance dictates them firing you?
The Ramsey Show
You Can Make Progress Even When It Feels Impossible
All right, great. I'm not seeing a massive problem, so let's go back to your financial question because we've only got about three minutes left. What is it that you need to know about your money?
The Ramsey Show
You Can Make Progress Even When It Feels Impossible
What's the big one? What's the practical takeaway? Let's fast forward. Let's be positive, Kathy. Now, this is going to be too soon on some of this I'm about to say, but I'm leading my partner here somewhere. So let's assume we're all clear of all this mess. She meets another fabulous man and she's in a relationship. She's in a married relationship.
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You Can Make Progress Even When It Feels Impossible
Yeah. You got time to build a bridge. So what's happening is you're approaching us. It's a very good question, by the way, but you've got a scarcity mindset, right? Very good. And so what you want to do is move into an abundance mindset and go, okay, I've done all this hard work to this point. My wife and I have got a great combined income. We're making great progress.
The Ramsey Show
You Can Make Progress Even When It Feels Impossible
We're about ready to start going all in on our retirement planning. And then we'll move to baby step six when we get there. But to your point, you kind of know None of this is going to be a real shock out of nowhere. And I'm sure you've allowed yourself to wonder, what would I do if I weren't doing this sport? And so begin to lay the groundwork by making connections.
The Ramsey Show
You Can Make Progress Even When It Feels Impossible
Act like you're going to get fired tomorrow as far as professionally. Yes, that's right. But financially, don't act that way and continue the course as Jade has told you. Absolutely. Let me ask you this really quick. Why is it that you can't tell us the sport? I know you said you couldn't, but I'm curious to know why.
The Ramsey Show
You Can Make Progress Even When It Feels Impossible
I wonder if he's Demolition Derby guy because he's not making huge money.
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You Can Make Progress Even When It Feels Impossible
Yeah, it's not NASCAR or IndyCar. Those guys weigh way worse. I'm trying to sit there and I'm just, it's killing me. It's killing me. I don't know what it is. I don't know what it is. Yeah, I'm wondering. But I would say, he said you've got 10 years too. So that makes me wonder if he's just smashing other cars every weekend or something. But I don't think Demolition Derby pays that well.
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You Can Make Progress Even When It Feels Impossible
I would drive a monster truck and smash other cars.
The Ramsey Show
You Can Make Progress Even When It Feels Impossible
That'd be fun. All right, we'll get tickets.
The Ramsey Show
You Can Make Progress Even When It Feels Impossible
What does she learn from this practically and tactically? What does she do different next time?
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You Can Make Progress Even When It Feels Impossible
win in their work, and have great relationships. And so we grow by you spreading the word in those ways. So we appreciate you joining us. However you are joining us, we'd love for you to subscribe, review, and share. Thank you very much. Catherine is in San Diego, California. Catherine, how can we help today?
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Well, that's a very interesting question from someone who at one point was pretty far down the path. Were you budgeting back then?
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Right. And the reason I did that question is because Jade's going to jump in. She's the budgeting queen here. But the reason I asked that question is because it seemed a bit odd the way you presented it. And now I'm starting to understand a little bit more. It's not the actual dotting the I's, crossing the T's of a budget. It sounds like you're just emotionally exhausted.
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You Can Make Progress Even When It Feels Impossible
How can we help with that? What's going on there? The idea of budgeting just seems like, is it that you don't feel like you've got enough? Are you paycheck to paycheck and it feels like the last thing you want to do is try to get in this mess because you've just been holding on so tight? I just think there's something going on here that's not actually how to use a budget.
The Ramsey Show
You Can Make Progress Even When It Feels Impossible
Yeah. Okay, I think that's good. So, Jade, knowing that, hearing that, because you coach people, what do you think? I don't think this is as much tactical. How does she get back into it? What would you tell her to do?
The Ramsey Show
You Can Make Progress Even When It Feels Impossible
No excuse, Kathy, to not know anything or very little. So now you know. And get your head up. This is not fun. You're getting ready to go through a really tough deal, and you're in the middle of a storm right now, but you're going to be okay financially, and you're going to be okay emotionally, and you'll be okay long term. So appreciate the call.
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You Can Make Progress Even When It Feels Impossible
Here's what I'm hearing. I could be wrong. Sorry to jump in. That's okay. Go ahead. But I keep, I think we keep coming back to this point. And the only analogy I can come up with right now is, Catherine, it feels like you know how to exercise and eat right. But you just, when it comes time to hit the gym or to walk properly,
The Ramsey Show
You Can Make Progress Even When It Feels Impossible
or to eat the really good meal, you just go, oh, I just really want the chips and queso instead. It keeps coming back to that. And there's the giggle of confirmation. So that's what I think is going on. She knows she said it twice. I know what to do.
The Ramsey Show
You Can Make Progress Even When It Feels Impossible
But when it comes time to sit, when the first check comes, when the first of the month comes in, getting back into that and having to make hard choices, because when I decide not to eat chips and queso at 10 o'clock at night, the last meals before seven or I got to go to the gym, I'm giving up something else. I'm having to do something that initially is not fun to do. That's right.
The Ramsey Show
You Can Make Progress Even When It Feels Impossible
I appreciate it. Oh, that's tough stuff, isn't it?
The Ramsey Show
You Can Make Progress Even When It Feels Impossible
And how many months, Jade, would you say, rule of thumb, it takes somebody to go from, oh, I hate budgeting to, okay, I got this.
The Ramsey Show
You Can Make Progress Even When It Feels Impossible
And don't expect the first budget to be great, Catherine. I've heard Dave Ramsey say that a million times. This is a process, and so you've just got to do it. You've got to just rip the Band-Aid off and go, I've got to start diving in, which means I'm going to have to change my spending. You said this was the first month, either in a long time or ever, where you couldn't pay your credit card.
The Ramsey Show
You Can Make Progress Even When It Feels Impossible
So I think that's coincided with this phone call. Am I right?
The Ramsey Show
You Can Make Progress Even When It Feels Impossible
Let her see the budget. Show her. Go, hey, mom's making some changes. I want you to understand what I'm doing. But more importantly, I want you to understand why I'm doing it. And she ain't going to like it. I've never met a 13-year-old who's really thrilled about you cutting some of their frills or whatever. So be prepared for that as well. But, Catherine, I just sensed this entire call.
The Ramsey Show
You Can Make Progress Even When It Feels Impossible
And by the way, I just want to encourage you. Uh, you've been through a lot and you've just, you've just feels like you've come out of a season where you have just been all grit and your body, your mind, your spirit are just fried. And I think you're going, I can't start a new discipline right now. And that's not the case. So, uh, be encouraged. You can do this. You've done it before. Yeah.
The Ramsey Show
You Can Make Progress Even When It Feels Impossible
Oh, boy. On behalf of all men, I'm sorry. Yeah.
The Ramsey Show
You Can Make Progress Even When It Feels Impossible
Come on. We believe in you. And by the way, you have to, you have to, there's a lot on your shoulders. And I know you can handle it. We're cheering for you the whole way through. Thanks for the call.
The Ramsey Show
You Can Make Progress Even When It Feels Impossible
It's May, folks, and that means another Ramsey Cash giveaway is here. You can enter every day from May 1st through the 31st, and there's going to be one grand prize winner who will win $5,000, Jade. How about that? And there is one $500 winner every week. So that's a pretty good deal. And you can enter daily to increase your chances of winning. This could be a game changer.
The Ramsey Show
You Can Make Progress Even When It Feels Impossible
Think about $5,000 going towards your debt or boosting your emergency fund. Or maybe you finally get that AC unit repaired before it gets ungodly hot. Whatever the situation, go to RamseySolutions.com slash giveaway. That's RamseySolutions.com slash giveaway now to enter. No purchase necessary to win.
The Ramsey Show
You Can Make Progress Even When It Feels Impossible
Oh, wow. I mean, this is probably not the best example because I'm, you know, I don't have to worry about the dead snowball or the baby steps.
The Ramsey Show
You Can Make Progress Even When It Feels Impossible
I'm going to splurge, splurge on me, mom, the family, you know. Yeah. Something like that. Something fun.
The Ramsey Show
You Can Make Progress Even When It Feels Impossible
Yeah. Yeah. Something really fun. A surprise for Stacy first.
The Ramsey Show
You Can Make Progress Even When It Feels Impossible
And so you immediately go, hey, I found some cash. In the form of Jade put it on my desk.
The Ramsey Show
You Can Make Progress Even When It Feels Impossible
And we don't know why, but that's the deal. And so I would, something special for mama.
The Ramsey Show
You Can Make Progress Even When It Feels Impossible
Always. And then, I don't know, I'd have to think. I wish I had a quick answer for you.
The Ramsey Show
You Can Make Progress Even When It Feels Impossible
Okay, then. And with clothing comes the accessories of shoes. You know I have a shoe problem. You're very aware. I do.
The Ramsey Show
You Can Make Progress Even When It Feels Impossible
We're both recovering shoe-holics, if that's a thing. Yes. All right. James is up in Fort Myers, Florida. James, how can we help today?
The Ramsey Show
You Can Make Progress Even When It Feels Impossible
We're doing well. What's going on with you?
The Ramsey Show
You Can Make Progress Even When It Feels Impossible
So break the numbers down for Jade real quick. So give us an idea of what everybody put down, what's owed on the house, what it's worth. Give us some of those numbers.
The Ramsey Show
Stop Letting Excuses Steal Your Wealth
Because now you're increasing your expenses to take this opportunity. And when you, and just, by the way, challenge us on the numbers off this call, right? So take the $20,000 gross that you're going to make. So we know you're going to take taxes on that. So run your taxes on that. You have a pretty good idea what that is. Okay.
The Ramsey Show
Stop Letting Excuses Steal Your Wealth
And then you look at the increase in childcare and you start playing that out. And so that's how you just walk through these decisions. If If you had said to us, Caleb, I'm going to make an additional 20K, keep the same schedule, get to work at home, then I think it's a very different conversation. But, man, you're in good shape, and listen to your wife on this one. Yeah, yeah.
The Ramsey Show
Stop Letting Excuses Steal Your Wealth
You know, fascinating. I love to hear a young man who's going, I really want to pay this off. And he's like, hold me back, Jade.
The Ramsey Show
Stop Letting Excuses Steal Your Wealth
Hold me back. Like, am I doing? And boy, as opposed to the opposite effect, you know, where people are just like, oh, they're not even thinking about it at all. They aren't willing to sacrifice. Really interesting way of coming at this.
The Ramsey Show
Stop Letting Excuses Steal Your Wealth
If he'd have come at you with more intensity, you'd have been like, hey, man.
The Ramsey Show
Stop Letting Excuses Steal Your Wealth
I can't believe you just pulled the standing on business hat out of the, for those of you that are watching on YouTube, you have to check it out.
The Ramsey Show
Stop Letting Excuses Steal Your Wealth
Well, there's two of them, so I think he and I will sign them to each other. There you go. And they'll just be bros.
The Ramsey Show
Stop Letting Excuses Steal Your Wealth
Yeah. Sam, you and I, a stick with these hats. We'll smoke a stick soon on that. All right. Quick break. We'll be right back. This is the Ramsey Show. We'll be right back.
The Ramsey Show
Stop Letting Excuses Steal Your Wealth
The Ramsey Show continues. I'm Ken Coleman. Jade Warshaw is alongside. 888-825-5225 is the phone number. Laura is joining us now in Los Angeles. Laura, how can we help?
The Ramsey Show
Stop Letting Excuses Steal Your Wealth
What's the, what's your income situation? Are you guys still working in the business?
The Ramsey Show
Stop Letting Excuses Steal Your Wealth
Okay. Do you have any other debt outside the 150? I know she asked you that, but I'm just totally clarifying. This is all of your debt.
The Ramsey Show
Stop Letting Excuses Steal Your Wealth
Okay, that's the good news. So $13,000 net. And just a real quick question. I don't want to get bogged down on this, but why is the four-year-old in a private school?
The Ramsey Show
Stop Letting Excuses Steal Your Wealth
Okay. So it doesn't have to be in pre-K. I'm just wondering, right out of the gate, there's some money to be saved on some home care maybe versus, but I don't, there's bigger issues going on. But y'all got to like cut back big time.
The Ramsey Show
Stop Letting Excuses Steal Your Wealth
There's the bumper stickers that Jade's about ready to walk you through.
The Ramsey Show
Stop Letting Excuses Steal Your Wealth
Yeah, I was going to say, yeah, and I might step on toes here, but since we're here, I'm going to go ahead and say it because I know a lot of Americans are thinking this. So I'm going to go ahead and say it.
The Ramsey Show
Stop Letting Excuses Steal Your Wealth
I don't remember anything from my 12th grade year. Your four-year-old, no matter what they're trying to teach the kid. I mean, I get it. I'm not in LA.
The Ramsey Show
Stop Letting Excuses Steal Your Wealth
But I don't know. I would be looking to save $800 a month tonight. Yeah.
The Ramsey Show
Stop Letting Excuses Steal Your Wealth
I know. And I gotta be careful. I'm not judging you. I'm just saying, you know, the four year old, we could cut that. That's 800 bucks a month. That's $9,600 a year.
The Ramsey Show
Stop Letting Excuses Steal Your Wealth
Yeah, and it's doable. And again, not telling you what to do with your kid in school, but if we take the $800,000 on top of that, now we're right at the doorstep of $2,000 that we found in your monthly budget. That goes a long way to paying off $150,000 in debt. Okay, because now you're looking at if we just take $2,000 a month that you found and you put it towards debt, that's $24,000 a year.
The Ramsey Show
Stop Letting Excuses Steal Your Wealth
That's a long haul, right? And this is a drastic change of your lifestyle. You're not going on vacation. You aren't going out to eat. You guys are going to have to really hustle. But again, my co-host today, this is a woman who her and her husband paid off half a million dollars.
The Ramsey Show
Stop Letting Excuses Steal Your Wealth
Appreciate the call. All right, quick break. Jade Warshaw, Ken Coleman. This is The Ramsey Show. We'll be right back.
The Ramsey Show
Stop Letting Excuses Steal Your Wealth
Alongside Jade Warshaw, I'm Ken Coleman. You're listening to The Ramsey Show. So excited that you are with us today as we help you win with your money, win in your profession, and win with your relationships. 888-825-5225 is the phone number. We'd love to hear from you. We go to Paul, who's right here in our backyard, National Tennessee. Paul, how can we help today? Hi. How are you guys?
The Ramsey Show
Stop Letting Excuses Steal Your Wealth
Good. Well, I'm a college dropout as well. And so I want you to stop saying it that way the rest of your life. I want you to stop saying it the way that you said it. And I'm not criticizing you. I'm actually going, hey, man. Everybody's got their story. Everybody's got their reasons for it. That does not limit you. And so I want to make sure we get our shoulders back on that, okay?
The Ramsey Show
Stop Letting Excuses Steal Your Wealth
So I'm a college dropout, all right? And so I'm not going to let you talk about me the way you talk about you that way, all right? You got this, Paul. All right. So let's talk about real numbers. All right. So she wants to be a stay-at-home mom. Love that. It's the greatest job in the world. Mad respect for it.
The Ramsey Show
Stop Letting Excuses Steal Your Wealth
My wife, Stacey, was a professional, made really good money, and then she's been at home for a while. I got mad props for that. How much money? I think you've got a number in your mind, or let's come up with a number. If you earned X amount of dollars, that would replace her income at the minimum. So what's the number?
The Ramsey Show
Stop Letting Excuses Steal Your Wealth
Lordy. Hello. Well, so are we trying right now, or is this just something we're talking about?
The Ramsey Show
Stop Letting Excuses Steal Your Wealth
Yeah, no, we're not. Yeah, y'all need to slow your roll and learn how to be married, for heaven's sakes. You've been married six months.
The Ramsey Show
Stop Letting Excuses Steal Your Wealth
Oh, well, let me also say... You know what, Paul? Let me just tell you. All those plans are great. You have no idea what's in store for you.
The Ramsey Show
Stop Letting Excuses Steal Your Wealth
You have zero idea. So let's focus on what we know. She's in a job right now, correct? Yes, sir. And she's not coming home anytime soon because there's no reason to come home, correct?
The Ramsey Show
Stop Letting Excuses Steal Your Wealth
Okay, so you guys are fine. You're 66. Take home. That's not bad at all. You guys can stack cash. Do you have any debt?
The Ramsey Show
Stop Letting Excuses Steal Your Wealth
All right, so I'm going to bring Jade back in in just a minute to pick you up right where I just left you, but I want to talk about what you want to do. I think this is what I've been doing for years is coaching people to find work they're wired to do. I'm going to give you at the end of this phone call my best-selling book, Find the Work You're Wired to Do.
The Ramsey Show
Stop Letting Excuses Steal Your Wealth
It has the Get Clear Career Assessment in it, okay? and I want you to take it, and then I want you to read the book because the book is me coaching you along with your assessment results.
The Ramsey Show
Stop Letting Excuses Steal Your Wealth
But let's just see if we can get a couple ideas because I just believe, Paul, that you know what it is or you have a couple ideas of something that you would like to do, and if I could wave my pencil and go poof, and you were doing it and making the money you'd like to make, what is it that you would like to do? Any ideas?
The Ramsey Show
Stop Letting Excuses Steal Your Wealth
Great. And why logistics? What about logistics intrigues you?
The Ramsey Show
Stop Letting Excuses Steal Your Wealth
My assessment measures three things, Paul. What you are good at doing, you just said you've always been good at it, and what you love to do. That's amazing. I love to do what I'm doing right now. It's fun. It's really fun. So that's not weird. So logistics has got a lot of application to it that's very versatile in the world of work.
The Ramsey Show
Stop Letting Excuses Steal Your Wealth
Because if you're good at logistics, there's some operational roles, a lot of ways you can go with that. And then real estate, if you're smart, you transition to that over time, that's great. So what's keeping you from moving into logistics over the next year or two or three? What do you think is missing? Do you have to have a degree to work in logistics?
The Ramsey Show
Stop Letting Excuses Steal Your Wealth
Okay, let me ask you a question. Since you're in logistics right now, who at your current company would be able to answer that question about what would it look like to climb a ladder into logistics?
The Ramsey Show
Stop Letting Excuses Steal Your Wealth
Paul, I'm going to give you the magical key that most young people never discover. You ready? you find out who are the logistics veterans in the company portal. You send them an email or a chat or a voicemail, and it sounds kind of like this. Hey, so-and-so, my name's Paul. I'm a young guy who would love to get into logistics. I've always been good at it.
The Ramsey Show
Stop Letting Excuses Steal Your Wealth
I really love it, but I need someone with experience to just give me their wisdom on the multiple ways that I can grow my and climb the ladder in logistics. Would you be willing to spend time with me if I bought your coffee or lunch? And you just rinse and repeat until you get somebody to do that. And then you actually pay attention to what they tell you. And then go find some other things.
The Ramsey Show
Stop Letting Excuses Steal Your Wealth
Go down message boards in logistics. Listen to podcasts. Find everything it is about logistics that are out there. And believe me, it's out there. And you figure out how to get there. Now, once you know that that's a good move for you. And my assessment, the Get Clear Your Career assessment will help you with that. And it's going to validate all the stuff we're talking about.
The Ramsey Show
Stop Letting Excuses Steal Your Wealth
Start moving forward with that. And by the way, Christian, let's also give him a copy of my book, number one bestseller, The Proximity Principle. I'm just piling it on the young man because I want to hand you over to Jade.
The Ramsey Show
Stop Letting Excuses Steal Your Wealth
We've got a couple minutes and I want her to walk you through how you will get ahead financially now that we're going to have a path and we're going to be making more money, how we plan for little ones and mama to come home down the road.
The Ramsey Show
Stop Letting Excuses Steal Your Wealth
Oh, okay. Well, it's really hard to make current decisions on hypothetical future decisions. And what I mean is what you're saying. Sure, I understand we want five kids is what she's saying, but we don't know how that's going to happen.
The Ramsey Show
Stop Letting Excuses Steal Your Wealth
A lot of life happens between now and five years from now, and everything we lay out, it's awesome, but life has a real weird way of never turning out exactly the way we plan it to. So that's why you want to make these great money decisions now and then deal with what happens when life throws it at you. Great hour, Jade Warshaw, always fun. This is your show. It's The Ramsey Show.
The Ramsey Show
Stop Letting Excuses Steal Your Wealth
Nice. What's that going to cost you, total program?
The Ramsey Show
Stop Letting Excuses Steal Your Wealth
This is The Ramsey Show, where America hangs out to have a conversation about their lives, specifically their money, their profession, and their relationships. Alongside Jade Warshaw, I'm Ken Coleman. 888-825-5225 is the phone number to jump in. She'll coach you up on saving money, budgeting money, investing money.
The Ramsey Show
Stop Letting Excuses Steal Your Wealth
I'm going to coach you up on how to make more of it, as the young people call it, moneyin'. This is a new term I learned today from some high schoolers. I can't wait to drop that on my kids.
The Ramsey Show
Stop Letting Excuses Steal Your Wealth
And see how fast and hard they roll their eyes. As my daughter likes to say all the time, you're so cringe, Dad.
The Ramsey Show
Stop Letting Excuses Steal Your Wealth
Yeah. It's what I'm supposed to do. It's part of the role of a dad. But we're here for you, America. You ready to go? I'm ready.
The Ramsey Show
Stop Letting Excuses Steal Your Wealth
She's ready, folks. Sarah is up in Miami floor. Oh, near your old stomping grounds. You like that. Sarah, how can we help?
The Ramsey Show
Stop Letting Excuses Steal Your Wealth
And what are you doing for a living right now?
The Ramsey Show
Stop Letting Excuses Steal Your Wealth
This is the Ramsey Show, where America hangs out to get coached up on their life, specifically their money life, their professional life, and their relational life. 888-825-5225 is the phone number to jump in, America. It's your show, 888-825-5225. Alongside the fabulously fly, I feel like today,
The Ramsey Show
Stop Letting Excuses Steal Your Wealth
Yeah, like abstract art or painting people's houses?
The Ramsey Show
Stop Letting Excuses Steal Your Wealth
Yeah, I was going to ask. I love the advice. Do you think that's going to go down okay, Sarah? I'm curious.
The Ramsey Show
Stop Letting Excuses Steal Your Wealth
You know, the reason I'm asking this question is I'm going to challenge you that starting off this marriage debt-free or with very little debt is going to be so much more relaxing. You know, it's funny. You posted an Instagram reel today of you and I together on this show, and it was –
The Ramsey Show
Stop Letting Excuses Steal Your Wealth
I think Jade's exactly right. Is there any way... You have to forgive me. I really don't know this. I just don't know. Yeah, what? How far back can they track? Can they track the expenses over the lifetime of this card? Or is that like going to some credit card database?
The Ramsey Show
Stop Letting Excuses Steal Your Wealth
$18,000 worth of charges because the thing is they've been using it paying it off using it paying it off so as it stands now but you can't okay so of the eight that's what I'm asking yeah so of the 18 that's on there now yeah it's like a fresh start that's I'm can they track that
The Ramsey Show
Stop Letting Excuses Steal Your Wealth
Does the credit card have a, obviously it's a website, but does it have the capability that she and her parents could go in and they could get an itemized list of the current 18K? This is what it's made up of so that they can divvy it up.
The Ramsey Show
Stop Letting Excuses Steal Your Wealth
And the reason I'm so hung up on that, Sarah... So Jade's advice is absolutely stellar. And to the extent that you can find out what is yours and you and mom and dad are all mature and we go, okay, this is our chunk and this is your chunk. And let's say you come back and I'm making this up, but let's say your chunk is half of it at 9K. Mm-hmm.
The Ramsey Show
Stop Letting Excuses Steal Your Wealth
now because you're off the card and what you're going to do is you're going to pay 9k to mom and dad to put on the card hopefully they'll do that hopefully they will uh but that ain't your problem and you will come to an agreement mom and dad i owe you nine thousand dollars and i'm going to make that right so whatever the number is that's what we want you to do and that's going to make this clean from a boundary standpoint for you which is really important really really important and and
The Ramsey Show
Stop Letting Excuses Steal Your Wealth
But I want you to coach her up on something she just said. She didn't catch what you said earlier. She said, I don't want my credit score to go down. You want it to go to zero. Give her the quick pep talk on why. I don't think she caught that.
The Ramsey Show
Stop Letting Excuses Steal Your Wealth
Yeah, that's very good. You need to hear this.
The Ramsey Show
Stop Letting Excuses Steal Your Wealth
And I was talking about, the young man, I was telling him, you need to learn how to get out of your parents' house and learn how to live on your own because when you get married, what's going to happen is you have these two individuals that have grown up in two different households and there's a lot of culture shock.
The Ramsey Show
Stop Letting Excuses Steal Your Wealth
Yeah, but you got this. I think what a lot of people don't realize, you can buy a house with zero credit score. Yes. You can live life without a credit card.
The Ramsey Show
Stop Letting Excuses Steal Your Wealth
It's all very doable. If you want to know more about that, just go to RamseySolutions.com and search. We've got articles on that. People think we make it up, Ken. No, it's a real thing. It is doable. So, Sarah, you got this, kiddo. Thanks for the call. We're rooting for you. All right, quick break. We'll be right back. This is The Ramsey Show.
The Ramsey Show
Stop Letting Excuses Steal Your Wealth
And I'm just going to bring that back up because it's fresh.
The Ramsey Show
Stop Letting Excuses Steal Your Wealth
Welcome back to the Ramsey Show alongside Jade Warshaw. I'm Ken Coleman. 888-825-5225 is the phone number to jump in. We'd love to have you. Palm Springs, California is where Jenny joins us. Jenny, how can we help you today?
The Ramsey Show
Stop Letting Excuses Steal Your Wealth
I want to get Jade back here involved, Kayla, but... I'd like to see you use that money to knock the debt off and let's hold off on paying your way through the school. I just think life, do you agree with me on that? I couldn't agree more. Take the reins from me on this.
The Ramsey Show
Stop Letting Excuses Steal Your Wealth
I just don't think they need insurance at this point.
The Ramsey Show
Stop Letting Excuses Steal Your Wealth
With all those houses and then what's beyond the house?
The Ramsey Show
Stop Letting Excuses Steal Your Wealth
That's why I'm with you. I'd invest that and I would use that as like that.
The Ramsey Show
Stop Letting Excuses Steal Your Wealth
They just don't like the answers. I would really just put the pressure on somebody and become their worst nightmare. And you'd be surprised if somebody wants to get rid of you. You can be nice, but you're just like a bulldog.
The Ramsey Show
Stop Letting Excuses Steal Your Wealth
Come on. There's a 90s reference. There you go. Come on, you know?
The Ramsey Show
Stop Letting Excuses Steal Your Wealth
I mean... Like new kids on the block hanging tough. You know what I mean? That's what I'm dropping. That's our theme song.
The Ramsey Show
Stop Letting Excuses Steal Your Wealth
You don't want to do that. You're robbing yourself. You're just going backwards.
The Ramsey Show
Stop Letting Excuses Steal Your Wealth
Yeah, yeah. And it's peace of mind and it's for the term. And that's why it's so beautiful. Once you get past that, you don't need it.
The Ramsey Show
Stop Letting Excuses Steal Your Wealth
Welcome back to The Ramsey Show. I'm Ken Coleman. Jade Warshaw is joining me. 888-825-5225 is the phone number to jump in. We'd love to hear from you. Javen is joining us now in Hattiesburg, Mississippi. Javen, how can we help?
The Ramsey Show
Stop Letting Excuses Steal Your Wealth
Okay. Well, I want Jade to weigh in, obviously, on this. But I really thought it was a really mature way of asking the question. You've never had to lead anybody. And when it comes to husband and wife, the word leading can get tricky for some people. And I think what I'm going to say hopefully helps everybody. I wouldn't look at it as telling her what to do if that's what we think leading is.
The Ramsey Show
Stop Letting Excuses Steal Your Wealth
I think modeling the way is what I would define as leading when it comes to a marital relationship. And so modeling the way is you being disciplined with money. you being transparent about money, you being thoughtful about money, you know, just coming at it from a, it's a, we, and so for instance, give you a classic example, leading her right now would be sitting down with her and going, Hey,
The Ramsey Show
Stop Letting Excuses Steal Your Wealth
So here's my view on student loan debt and just debt in general. Here's what it does to me. Here's why it does that to me. And when I say the why, I don't mean like Ramsey bullet point language. I mean like you personalizing going.
The Ramsey Show
Stop Letting Excuses Steal Your Wealth
I grew up this way or whatever. So that she goes, she feels very safe because you're not... You're not talking at her about this. You're going, here's how I feel about money in general. And I feel, as your future husband, that I have a responsibility to lead us, is how I would say that. And say, can we talk about what it might look like to save up and cash flow PA school?
The Ramsey Show
Stop Letting Excuses Steal Your Wealth
I'm going to bring you in here because I wanted to try to take the – I wanted to give him some wisdom from my, you know, as a man in the marriage, Stacey very strong. We've always been on the same page about money when we didn't start that way. In other words, we may start a conversation. We ain't on the same page.
The Ramsey Show
Stop Letting Excuses Steal Your Wealth
When we finished the conversation, Jade, we got to get on the same page. And so I'm bringing you in here. I'm tagging. This is like a wrestling match. And I'm tagging you in the corner over there.
The Ramsey Show
Stop Letting Excuses Steal Your Wealth
I'm getting out. I'm getting out of the ring. And I need you to come in because I do want the female perspective as well. Okay, I'm jumping off the ropes into the ring. Be gentle now. Don't elbow drop it right in the head.
The Ramsey Show
Stop Letting Excuses Steal Your Wealth
But you're going to be fine, young man. You really will if it's a conversation. You're not dictating. It's not like the old school.
The Ramsey Show
Stop Letting Excuses Steal Your Wealth
Did we ask you, Kayla, how much cash you have set aside for school?
The Ramsey Show
Stop Letting Excuses Steal Your Wealth
I'm trying to think of Mad Men where a guy barks at his secretary and says, as long as the posture is, I want what's best for our marriage, and this is about peace and us not being like millions of couples that fight over money, and then that turns into marriage issues. I'm just trying to take the pressure off, Javen. Does that make sense to you? You don't have to be a know-it-all.
The Ramsey Show
Stop Letting Excuses Steal Your Wealth
You don't have to be this wise sage. You just got to be smart with money and we're going to walk along with you. And by the way, as a wedding gift, by the way, I want to give you Total Money Makeover, Dave Ramsey's classic book, close to 10 million copies, I think, sold or whatever it is. That's just kind of the basics.
The Ramsey Show
Stop Letting Excuses Steal Your Wealth
And if you were to just follow that, because you guys aren't in any kind of trouble, but if you were to just follow that, that would be great. What else can we give them?
The Ramsey Show
Stop Letting Excuses Steal Your Wealth
Okay. So doing the numbers here, you said you guys have collectively 54,000. I'm going to keep it at that because you're going to be married. By the time you split this out and try to take it on your own, you're basically going to be married. So let's say you got 54,000, 20 of it is your fiance's truck. That takes it down to 34. If you put 12 on it, that takes you down to 22.
The Ramsey Show
Stop Letting Excuses Steal Your Wealth
I agree with that. Really good question, though. I love your heart, Javen. I think it's great that a young man is thinking about that. And, you know, you've got to make the big decisions early in marriage.
The Ramsey Show
Stop Letting Excuses Steal Your Wealth
And then you spend the rest of your marriage managing those decisions. And money is one of them.
The Ramsey Show
Stop Letting Excuses Steal Your Wealth
That's right. And I would also liken it, I'm glad you bring that up, I would also liken it to... This is going to give some people some heartburn, so hang with me. I would liken it to the family member that you're going to see on a regular basis so you can't be a jerk when that uncomfortable political conversation happens.
The Ramsey Show
Stop Letting Excuses Steal Your Wealth
In other words, if it's Uncle Larry who you see once a year, you might come at Uncle Larry if he says something. You know what I mean? Yeah. But like if it's your grandmother or somebody where it's like you choose relationship over being right or the zinger where you're like, you just feel like I need to zing you and just kind of let you know what I think of people.
The Ramsey Show
Stop Letting Excuses Steal Your Wealth
We can do that on tough topics and politics is one, money is another, faith and religion, things like that. When there is some respect to say, I'm going to understand you. That's right. Because here's what I've learned about politics. You're never going to convince somebody else because of your five points that you're going to make in a debate.
The Ramsey Show
Stop Letting Excuses Steal Your Wealth
Common ground. Where can we find common ground? And so this is a lot easier when it's your spouse. When it's, okay, I'm just going to seek to understand how she thinks and feels about money.
The Ramsey Show
Stop Letting Excuses Steal Your Wealth
What do you think about debt? And then she tells you, and you go... What formed that? What do you think? See, all of a sudden, this isn't a game. It's not manipulation. It's a legitimate, respectful question asking that allows you to get on her page. That does not mean that you agree with everything on her page, but you got there.
The Ramsey Show
Stop Letting Excuses Steal Your Wealth
Now you hope it's reciprocated. And in a healthy relationship, it will be reciprocated. I think that's the lesson.
The Ramsey Show
Stop Letting Excuses Steal Your Wealth
I think that's the best you can do and hope it works out from there. And without all else fails, go get a great therapist for your marriage. You know what I mean?
The Ramsey Show
Stop Letting Excuses Steal Your Wealth
Welcome back to The Ramsey Show. I'm Ken Coleman, joined by Jade Warshaw. Thrilled to have you with us. 888-825-5225 is the phone number. Let's go to Lafayette, Indiana. And Steve is there. Steve, how can we help?
The Ramsey Show
Stop Letting Excuses Steal Your Wealth
You're not going to pay it off that fast. Have you run those numbers? I'm with Jade. Have you run the numbers on the interest and what that's going to actually be? So for instance, let's put you on the spot. Over the next 12 months, what are you anticipating that the interest of the $400,000 is going to throw off?
The Ramsey Show
Stop Letting Excuses Steal Your Wealth
Well, let's do it. Let's do it. So what's the return? What do you think you're going to get over the next 12 months on that money market?
The Ramsey Show
Stop Letting Excuses Steal Your Wealth
I think that's right. Let me get my calculator.
The Ramsey Show
Stop Letting Excuses Steal Your Wealth
So I got to jump in, Steve, really quick, because I'm 100% with your wife on this. Here's why. I just pulled the numbers. You're at 4.5% on the $400,000. That's $18,000 a year. However, if you pay the house off, you have... massive, massive jump forward in, in your, in your longterm, you know, play.
The Ramsey Show
Stop Letting Excuses Steal Your Wealth
And then the second thing is, is I would take all that money and I would be, I would be investing most of that. I, outside of your emergency fund, a six month emergency fund, Jade, I would be investing the rest of that after we pay the house off. Cause I would rather get eight to 10% versus your four and a half.
The Ramsey Show
Stop Letting Excuses Steal Your Wealth
Yeah, he's too excited about 4.5%. I wouldn't be excited about 4.5%.
The Ramsey Show
Stop Letting Excuses Steal Your Wealth
That's exactly what I would do, Steve. Pay off the house. Get with a smart investor pro in your area, RamseySolutions.com. Make the connection. The smart investor pros are people you need to sit with if you don't have one. And sit with them and interview them. Get the right fit, right feel, the connection, the chemistry deal, and then have them invest that money for you.
The Ramsey Show
Stop Letting Excuses Steal Your Wealth
Yeah, he was thinking, I'm going to pay the house off at $18,000 a year.
The Ramsey Show
Stop Letting Excuses Steal Your Wealth
No, it's not a good move. Hey, I want to mention something. Then we got to get to our question of the day. If you're a business owner, I know we have a lot of people who are starting out. You just could be in the side hustle stage where you've got the business up and running. You need to know about Dave's new book, Build a Business You Love. It's where he's unpacking how he took
The Ramsey Show
Stop Letting Excuses Steal Your Wealth
This business, where he started on a card table in his living room, to now an over $250 million business. It's a proven system. Think of it as the baby steps for running a business. And you can pre-order it right now. It's called Build a Business You Love. Look at that. I like the cover. He looks sharp, doesn't he? And so that book is now available to pre-order for only $29.99.
The Ramsey Show
Stop Letting Excuses Steal Your Wealth
You'll get over $350 in free bonus items. including the Entree Leadership Hiring Playbook, the e-book, and the enhanced audio book. So you can get it at ramsaysolutions.com slash store, ramsaysolutions.com slash store. Or if you're watching on YouTube or podcast, we've got the link for the book, Build a Business You Love by Dave Ramsey, his latest book. You can get it in the show notes.
The Ramsey Show
Stop Letting Excuses Steal Your Wealth
So go get that. All right, let's get to our question of the day, which is brought to you by YRefi. Do you have a defaulted private student loan and the payments are dragging you down? YRefi can help you save thousands of dollars. Visit YRefi.com slash Ramsey to see how they can help. That's the letter Y, R-E-F-Y dot com slash Ramsey. It may not be available in all states.
The Ramsey Show
Stop Letting Excuses Steal Your Wealth
Yeah. Let the silence. I'm going to give you six words. We can't give more. I'm sorry. That's it. And just let it ride. And you say we can't. You have to tell them why. Just we can't. Oh, I'm so sorry. We can't. I think that's all you can do here or this thing's going to be an ugly, ugly mess. This is The Ramsey Show.
The Ramsey Show
Stop Letting Excuses Steal Your Wealth
Yeah, I agree. It's not what you expected. But I think it's the best plan, especially being a young married couple. I mean, it's just going to make marriage a whole lot easier as you experience that first year of just learning how to live with somebody else. And it's a lot harder than anybody tells you, by the way. So don't add money complications to it. Great first call, Kayla.
The Ramsey Show
Stop Letting Excuses Steal Your Wealth
I got to say, I think you got a 90s vibe and I don't have a problem with it.
The Ramsey Show
Stop Letting Excuses Steal Your Wealth
All right, quick break. Jay's going to tell me more about 90s fashion, and then we'll be back. This is The Ramsey Show.
The Ramsey Show
Stop Letting Excuses Steal Your Wealth
I'm not ashamed of my age. I graduated in 1992 from high school. We've got a big group of fantastic looking young scholars, high schoolers from a local school here today looking at us and they're all like, yeah, he's pretty much my dad's age. And I am.
The Ramsey Show
Stop Letting Excuses Steal Your Wealth
Welcome back, America. You're joining the conversation about your life. here on The Ramsey Show. Ken Coleman alongside Jade Warshaw. So happy you're with us, 888-825-5225. Investing can be overwhelming and certainly confusing. And it's not something that a TikTok or an Instagram reel is going to give you some depth on.
The Ramsey Show
Stop Letting Excuses Steal Your Wealth
So if you're feeling that, we want you to know about our Investing Essentials virtual event. It's happening tomorrow. Dave Ramsey and George Camel together. We'll be doing the event here from our headquarters night one tomorrow, March 4th. It's a two-night event. So tomorrow and Wednesday, you're going to get two hours of teaching about maximizing your 401k and picking mutual funds.
The Ramsey Show
Stop Letting Excuses Steal Your Wealth
Also, you're going to get Dave's personal playbook on real estate investing. And he'll tell you how he's made hundreds of millions of dollars in property investments. Tickets are $199. Get yours right now, RamseySolutions.com slash events. RamseySolutions.com slash events. Or click on the link in the show notes if you're tuning in on podcast or YouTube.
The Ramsey Show
Stop Letting Excuses Steal Your Wealth
So this is a great event, two-night event starting tomorrow. And you're going to learn a lot. And I'm going to tell you something. If you're out there and you're going, I need more money in my life. Come on, Kim. Then this event is for you. Trying to get that munion.
The Ramsey Show
Stop Letting Excuses Steal Your Wealth
More munion. I want a bag of munion. You know? So that's the event. You don't want to miss that.
The Ramsey Show
Stop Letting Excuses Steal Your Wealth
I know this. I'm hip. I know these things. I just use words like that. I forget that people aren't as up with it.
The Ramsey Show
Stop Letting Excuses Steal Your Wealth
I know. I'm trying to stand on business, as you tell me.
The Ramsey Show
Stop Letting Excuses Steal Your Wealth
are you am i are you trying to stand on business i'm not sure if i know how to use that one i'm still working you hold that thought you what where is she going oh no james i'm not sure what's happening right shut up are you for real right now you just pull out a hat that says standing on business i got that just for you kim you stashed these yeah i knew the time would come when you would be ready to say listen this was not planned
The Ramsey Show
Stop Letting Excuses Steal Your Wealth
I'm telling you, I'm rocking that lid right there.
The Ramsey Show
Stop Letting Excuses Steal Your Wealth
All right. Well, I'm going to keep it on the entire segment. I'm not a fan of black and red, but I'm going to go with it.
The Ramsey Show
Stop Letting Excuses Steal Your Wealth
All right. Very good. Let's see how I do with this, James. This is all very exciting. I love so much of this. Let's go to Caleb in Salem, Oregon. Caleb, how can we help?
The Ramsey Show
Stop Letting Excuses Steal Your Wealth
All right. I'll tell you what. I think the best thing to do here, Jade, is to go right to Caleb's wife and what she thinks is reasonable. In other words, she wants to live some life. You don't want to have a life. So what is her definition of have a life? What does that include from a budget standpoint? And where does that challenge you? Let's get real about this.
The Ramsey Show
Stop Letting Excuses Steal Your Wealth
No. Well, you look great though. You're pulling off the 90s vibe, making me look cooler than I'll ever look just to be next to you. She's fabulous. She'll help you out with how to save the money, how to budget the money. I'm going to help you out with how to make more money. That's our combo today. You ready to go? Let's do it. All right. Kayla's up first in Jackson, Michigan.
The Ramsey Show
Stop Letting Excuses Steal Your Wealth
And the only debt you have is the home. Correct. Oh, bro, this is easy for me. I mean, you've got to find a way to make some more money somewhere else, because if it throws the family dynamic off as much as it sounds like, and they incur more expenses for child care... You could easily end up spending that $20,000 a year taking care of these kids.
The Ramsey Show
Stop Letting Excuses Steal Your Wealth
Yeah, so I would be patient, and this is happy wife, happy life, but this is also... To Jade's point, she got to it faster than I did, but this is a net-net. It's not like a whole bunch of wind for you, a financial windfall. So I would just be patient, man. You got a good joint income. How soon will you pay the house off if you just stay at the current rate?
The Ramsey Show
If You Live Fake Rich, You Will Become Real Broke!
The right questions are the key to unlock personal and professional potential. That means if you're not where you want to be, you are not asking the right questions. I'm Ken Coleman, and this is what my new show, Front Row Seat, is all about. Over my career, I've had the distinct privilege to interview successful people from all walks of life and to coach over 10,000 professionals who wanted more.
The Ramsey Show
If You Live Fake Rich, You Will Become Real Broke!
What sets successful people apart is a never-ending desire to learn and grow. We'll see you next time.
The Ramsey Show
You Have to Know Where You Are Financially to Know Where You're Going
I'm exhausted. Can't imagine.
The Ramsey Show
You Have to Know Where You Are Financially to Know Where You're Going
That's good, George.
The Ramsey Show
You Have to Know Where You Are Financially to Know Where You're Going
And by the way, the young thing, I got married at 23. This is, you know, too young. All right, we've got to take a break. During the break, I'm going to share with George what I've learned about bread. This is The Ramsey Show.
The Ramsey Show
You Have to Know Where You Are Financially to Know Where You're Going
Hold on a second. Hold on. What was that? A severe case of what? Can't-say-no-to-wife-itis. Ha! Wow. I liked it. I thought that deserved, you ran through that too quick. Can't say no to wife-itis. Yeah. I've got a similar case. It's called can't say no to daughter-itis. My 16-year-old's got me wrapped around her finger. I really struggle. I don't think insurance covers those. Sorry, guys.
The Ramsey Show
You Have to Know Where You Are Financially to Know Where You're Going
Welcome back to The Ramsey Show. Alongside George Camel, I'm Ken Coleman. So glad that you are with us. 888-825-5225 is the phone number. Many of you listen to us, watch us, because you want to invest and invest wisely. And the reality is that investing can be very intimidating, certainly confusing. And you never want to take investing advice on a TikTok. You need to dive deep.
The Ramsey Show
You Have to Know Where You Are Financially to Know Where You're Going
And so to that end, our Investing Essentials virtual event is going to teach you everything you need to know. It's coming up March 4 and 5. Tickets start at $199. This is a two-night event, as you can tell by the dates. Dave Ramsey and George Campbell are collaborating on this event. You're going to get Dave's personal playbook on real estate investing.
The Ramsey Show
You Have to Know Where You Are Financially to Know Where You're Going
And George is going to do a deep dive as well. George, you want to give a little snippet?
The Ramsey Show
You Have to Know Where You Are Financially to Know Where You're Going
You were talking about all the complexity out there around investing. That's why I was telling you during the break about what I've learned about sourdough bread.
The Ramsey Show
You Have to Know Where You Are Financially to Know Where You're Going
Well, there's just a lot out there. What do you do with the starter? How much do you feed it? There's a lot of things out there.
The Ramsey Show
You Have to Know Where You Are Financially to Know Where You're Going
You can't rush the process. So there you go. I just want to tie all that in together there, George. See, I signed up. Beautifully done. You all need to sign up for this investing class if you don't understand it because it's a class. Let's just be honest. Two-night event, going to be great. And maybe George will tell you a little bit about what I've told him about sourdough bread. It's too risky.
The Ramsey Show
You Have to Know Where You Are Financially to Know Where You're Going
We'll see. Let's go to Minneapolis now where Jacob is waiting for us. Jacob, how can we help today?
The Ramsey Show
You Have to Know Where You Are Financially to Know Where You're Going
Okay, so you changed from what making what to what making what?
The Ramsey Show
You Have to Know Where You Are Financially to Know Where You're Going
It's a pre-existing condition.
The Ramsey Show
You Have to Know Where You Are Financially to Know Where You're Going
Okay. How soon will you be out of the schooling and then making nurse money, and what will that be? It should be December of 2026. Okay. And what will you be making?
The Ramsey Show
You Have to Know Where You Are Financially to Know Where You're Going
So a temporary step back in order to step forward. Correct. Okay, great. I got no problem with that. It's very strategic. Okay, so be more specific. When you said to George and I, I don't know where to start. What specifically? How can we help? Where's the area that you're not sure what to do next?
The Ramsey Show
You Have to Know Where You Are Financially to Know Where You're Going
Yeah. Great question. Are you familiar with our baby steps?
The Ramsey Show
You Have to Know Where You Are Financially to Know Where You're Going
And you're married? No, no.
The Ramsey Show
You Have to Know Where You Are Financially to Know Where You're Going
Okay, you said the girlfriend. Okay, I wasn't sure. I'm sorry. Okay. Wow. 25 years old and mom and dad are paying all your utilities. That's a sweet deal. It's a good deal if you can get it. I don't think I like it very much, but I think it's time to cut the umbilical cord.
The Ramsey Show
You Have to Know Where You Are Financially to Know Where You're Going
Okay. Oh, you're living with them. I missed that, too. Okay. All right. That makes a lot more sense. All right. There you go. Well, thanks for the call. I mean, you're on the way, and I love that you're thinking about the margin, and George gave you great advice.
The Ramsey Show
You Have to Know Where You Are Financially to Know Where You're Going
All right, let's go to John in Pittsburgh. John, how can we help? Hey. Hi, John. We've got about two and a half minutes. Hit me with your question.
The Ramsey Show
You Have to Know Where You Are Financially to Know Where You're Going
Tell me about the opportunity.
The Ramsey Show
You Have to Know Where You Are Financially to Know Where You're Going
Is it in the same industry?
The Ramsey Show
You Have to Know Where You Are Financially to Know Where You're Going
Great. Do you think that sets you up to continue to climb a ladder that you've sort of envisioned? You can see continued growth as a result of this move? Yes. It's a no-brainer. What would be the reason for not saying yes and calling us to get our take?
The Ramsey Show
You Have to Know Where You Are Financially to Know Where You're Going
If the horses weren't the issue or your wife getting a brand new job, would you be doing this automatically? Quick answer.
The Ramsey Show
You Have to Know Where You Are Financially to Know Where You're Going
I don't think that's the issue, George. I think it's... He's got bigger problems to fry. Can the wife... I think the biggest issue is this. Can his wife find a job doing something similar that she enjoys? I think that's the issue. The horses? Boy, oh boy. I'm not touching that one with a 10-foot pole. I will. Sell the horses. Sell the horses. Is that like a... Oh, I forgot.
The Ramsey Show
You Have to Know Where You Are Financially to Know Where You're Going
You've got a lot of controversy around that. It's called PTSD, Ken. I got it. Well... We'll talk about the equine population during the break. We'll be right back. This is The Ramsey Show.
The Ramsey Show
You Have to Know Where You Are Financially to Know Where You're Going
Welcome back to the Ramsey Show. Alongside George Campbell, I'm Ken Coleman, 888-825-5225 is the number. All right, folks, for those of you who are aware of the baby steps, how you doing? How are you tracking along? If you want to take a quick quiz to check your progress and receive a personalized plan, we've got it for you.
The Ramsey Show
You Have to Know Where You Are Financially to Know Where You're Going
All you've got to do is go to the show notes, click on the link titled, Are You On Track With The Baby Steps? And complete the quiz. And there's some real value in this, George. Tell them why.
The Ramsey Show
You Have to Know Where You Are Financially to Know Where You're Going
Yeah, yeah, yeah. Friends, one of the greatest shows of all time. So there you go. How you doing on the baby steps?
The Ramsey Show
You Have to Know Where You Are Financially to Know Where You're Going
How you doing? Do they have a how you doing in Boston?
The Ramsey Show
You Have to Know Where You Are Financially to Know Where You're Going
Okay, I like that. What's up, guy? I like that. I like that. That's my Ben Affleck. That's fantastic. You did well, by the way. By the way, it goes with the bomber jacket. Thank you. I think the accent works. Very tough. Yeah. Let's go to Lynn in Madison, Wisconsin. Lynn, how can we help?
The Ramsey Show
You Have to Know Where You Are Financially to Know Where You're Going
Well, good news. We have got help to give. I mean, I can't think of two guys that are more helpful than us. So you're in good hands.
The Ramsey Show
You Have to Know Where You Are Financially to Know Where You're Going
Oh, I love disputes. Oh, it's between you and your husband.
The Ramsey Show
You Have to Know Where You Are Financially to Know Where You're Going
All right, let me ask this before we get going. Is he by chance in the room with you?
The Ramsey Show
You Have to Know Where You Are Financially to Know Where You're Going
I do, too, because I am now starting this new trend here, George. We've done this one or two times. We get both of them on the phone.
The Ramsey Show
You Have to Know Where You Are Financially to Know Where You're Going
Okay, we'll hear one side. All right, Lynn, let's go. Let's hear your side and his side.
The Ramsey Show
You Have to Know Where You Are Financially to Know Where You're Going
Oh, I'm fighting words. I like how you lead off here. We'll see if you're a Pharisee. Go ahead. All right. All right. Well, some quick background.
The Ramsey Show
You Have to Know Where You Are Financially to Know Where You're Going
You're a rock star. Don't mess with Mama Bear, Lynn. Listen, let's just call that out. That's hard work. Good for you.
The Ramsey Show
You Have to Know Where You Are Financially to Know Where You're Going
equally if we were if we divorced i wouldn't be saying like oh well we paid off the car while we were married so my cash paid that off or whatever it was none of that so what specifically what specifically is he calling hypocritical that i wanted a prenup just the prenup did he have any but were they fine with certain parts of the that agree you just laid out a list was he against all of those things
The Ramsey Show
You Have to Know Where You Are Financially to Know Where You're Going
All right. And how long have you been married?
The Ramsey Show
You Have to Know Where You Are Financially to Know Where You're Going
I'm going to ask a stupid question, George, that I think you know the answer to. I may not. Try me. Can you get a prenup post-marriage? Post-nuptial. You can. Yeah.
The Ramsey Show
You Have to Know Where You Are Financially to Know Where You're Going
So is it signed?
The Ramsey Show
You Have to Know Where You Are Financially to Know Where You're Going
But he just resents you for it. So why are you calling us again? So what's the dispute? This is all moot point, right?
The Ramsey Show
You Have to Know Where You Are Financially to Know Where You're Going
Yeah, we don't have like a blanket policy on this.
The Ramsey Show
You Have to Know Where You Are Financially to Know Where You're Going
Yeah, and had you called us before you got it signed, I would have said the same thing that George said, but I would have said I personally would not do one because I feel like a prenup is an acknowledgment that we could finish this thing and end this thing. and I'm not judging anybody that's been divorced. I want everybody to hear this. I'm not judging anybody, okay?
The Ramsey Show
You Have to Know Where You Are Financially to Know Where You're Going
I am blessed to come from – my wife and I both come from families where our parents have been married over 50 years. So we have a heritage that we inherit. We saw it. And when Stacey and I got married, there was no out. And we've been married 27 years, and there have been times it's been very, very hard. There's no out. Now, that's our position. I'm not prescribing that to anybody.
The Ramsey Show
You Have to Know Where You Are Financially to Know Where You're Going
I'm not proselytizing today. But I would say that I would have said ahead of time, I want you to go to counseling because you've got some very natural fears, Lynn. And I understand. I'm empathetic to go. If I were in your shoes, I could see where you could get to that point and want to protect yourself. You've been burned. But so is he.
The Ramsey Show
You Have to Know Where You Are Financially to Know Where You're Going
And I think that this should have been counseling on the front end. You should not have forced this. I'm going to say something crazy here. If it were me, I'd tear it up. And then I'd go to counseling. I think you forced the issue on this, and I think you've got to redo it. That's what I would do. Oh, boy. Here come the hate mail. This is The Ramsey Show.
The Ramsey Show
You Have to Know Where You Are Financially to Know Where You're Going
This is the Ramsey Show. Welcome aboard. This is where we help you, America, win in your life. We're going to help you win with your money, win in your profession, and win with your relationships. 888-825-5225 is the phone number. 888-825-5225. I'm Ken Coleman. He's George Camel. And he may have the best beard in all of YouTube. Now you're just trying to offend me.
The Ramsey Show
You Have to Know Where You Are Financially to Know Where You're Going
Yeah. You know I'm making this. stuff up.
The Ramsey Show
You Have to Know Where You Are Financially to Know Where You're Going
The fact that you fact-checked me on that is, you know, it's just a nice little... I appreciate that.
The Ramsey Show
You Have to Know Where You Are Financially to Know Where You're Going
I want to throw a little something positive your way. You know? I mean, it was a compliment.
The Ramsey Show
You Have to Know Where You Are Financially to Know Where You're Going
You couldn't receive it. I was just trying to say something nice about you. Thank you. That's very rare. Let me restate it.
The Ramsey Show
You Have to Know Where You Are Financially to Know Where You're Going
alongside george campbell the man with the best bomber jacket collection and all now we're talking content that's the ken coleman i know and love oh so you'll receive that one yeah okay i mean i can't grow a beard i can choose what i receive all right well i have agency you figured out by now we like to have fun while we help you out because uh there's breakthrough on the other side of these calls so let's get to it julie is in tampa florida julie how can we help today
The Ramsey Show
You Have to Know Where You Are Financially to Know Where You're Going
How are you, Julie?
The Ramsey Show
You Have to Know Where You Are Financially to Know Where You're Going
Oh, hey, you're talking to a pastor's kid.
The Ramsey Show
You Have to Know Where You Are Financially to Know Where You're Going
That's brave. I'm glad you made it through. You're here for a reason. What's going on, Julie? Lay it on us.
The Ramsey Show
You Have to Know Where You Are Financially to Know Where You're Going
I can feel the weight that's on you right now. I can, too. I'm really interested about what's coming our way here. Okay, go, Julie.
The Ramsey Show
You Have to Know Where You Are Financially to Know Where You're Going
This is The Ramsey Show, where we help you win in your life, specifically with your money, in your profession, and in your relationships. Alongside the incomparable, the delightful George Camel, I'm Ken Coleman. Excited to be with you all. George, you ready to go today? It's a Friday. You're not mailing it in. No. I don't even know how to do that. I'm a millennial. Come on. I don't mail anything.
The Ramsey Show
You Have to Know Where You Are Financially to Know Where You're Going
Why can't you move out, Julie?
The Ramsey Show
You Have to Know Where You Are Financially to Know Where You're Going
What's your dad's plan? Okay, I'm going to go back to this. Hold on a second. I don't even care about dad's plan because we're going to get lost in details that don't matter. You called. You wanted our help. I'm going to ask the question again. Why can't you and your husband move out?
The Ramsey Show
You Have to Know Where You Are Financially to Know Where You're Going
Okay, I'm going to ask it a third time. I'm going to ask it a third time, and you're going to see where I'm going. Why can't you and your husband move out of your parents' house?
The Ramsey Show
You Have to Know Where You Are Financially to Know Where You're Going
Then that's what I'm getting at. Thank you, sir, in the lobby. He was tracking with me. It took three times, Julie. But listen, this is why you called. I hurt my parents.
The Ramsey Show
You Have to Know Where You Are Financially to Know Where You're Going
There it is. That's the real reason. That's the real reason. And you have a lot of respect for your dad. You also feel a massive amount of guilt. The heaviness that George felt at the top of the call is guilt.
The Ramsey Show
You Have to Know Where You Are Financially to Know Where You're Going
yeah well yeah i got news for you well i i got news for you you've done nothing illegal you've done nothing unethical no it just happened to me yeah yeah but you guys did some nonsensical things with the credit card money stuff was really but here's the deal your dad doesn't get to tell you what to do you guys have been married 25 years how old are you
The Ramsey Show
You Have to Know Where You Are Financially to Know Where You're Going
Are you holding your husband up? In other words, if you had already given him the green light, would he have already moved you guys out?
The Ramsey Show
You Have to Know Where You Are Financially to Know Where You're Going
George, I want to bring you in here. Here's the deal.
The Ramsey Show
You Have to Know Where You Are Financially to Know Where You're Going
You know what's going to happen?
The Ramsey Show
You Have to Know Where You Are Financially to Know Where You're Going
You know what's going to happen? You're going to end up hurting your husband while trying not to hurt your dad.
The Ramsey Show
You Have to Know Where You Are Financially to Know Where You're Going
Julie, Julie, Julie, Julie, Julie. You're taking on the weight of the world right now. Julie, stop. God bless you. I want to give you a hug. I don't want you to feel me criticizing you, but I want you to hear me.
The Ramsey Show
You Have to Know Where You Are Financially to Know Where You're Going
No, no, no, no, no. Listen, I'm not criticizing you, but I'm trying to be so blunt with you. Your husband needs you to support him. Yeah. Period. There is nothing else.
The Ramsey Show
You Have to Know Where You Are Financially to Know Where You're Going
Jake! Jake! Can you hear us? Hey, guys. How are you doing? Hey, Jake. Julie wants to support you, so you've got to make the man move now. We just talked to her about it. We told her. She's got to follow you. She wants to follow you, but she's also trying not to hurt Dad. So now it's time for you to go, babe, it's going to be okay.
The Ramsey Show
You Have to Know Where You Are Financially to Know Where You're Going
I'll support you dealing with whatever Dad's going to throw at you, but we...
The Ramsey Show
You Have to Know Where You Are Financially to Know Where You're Going
No, no, we've got to go. I'm so sorry. I've got a commercial break. I'm not being rude. Lead! Go get the boxes now!
The Ramsey Show
You Have to Know Where You Are Financially to Know Where You're Going
Welcome back to the Ramsey Show alongside George Camel and Ken Coleman. And it's Camel and Coleman. That's a law firm you'd hire right there. Yeah, that is, isn't it? What would we specialize in, you think?
The Ramsey Show
You Have to Know Where You Are Financially to Know Where You're Going
I could see both of us doing commercials together talking about call us. You know, like that whole, it's so smarmy. Yeah, we'd be very smarmy.
The Ramsey Show
You Have to Know Where You Are Financially to Know Where You're Going
Um, Tyler is in Dallas, Texas. Let's go to Tyler. Tyler, how can we help?
The Ramsey Show
You Have to Know Where You Are Financially to Know Where You're Going
Well, why? You're projecting something. If she's willing to get a second job, the answer is thanks, babe. That's awesome. What are you, the knight in shining armor for the last deadbeat? You guys got to work together on this.
The Ramsey Show
You Have to Know Where You Are Financially to Know Where You're Going
Good. What's going on?
The Ramsey Show
You Have to Know Where You Are Financially to Know Where You're Going
Okay, great. So give us the pros of, we'll call it job number one, and let's go with, that's going back to your previous employer. Did I understand that right? Yes, sir. Okay, so give me the pros of going back there.
The Ramsey Show
You Have to Know Where You Are Financially to Know Where You're Going
So that's what you mean when you say the retirement's really good is the pension program?
The Ramsey Show
You Have to Know Where You Are Financially to Know Where You're Going
What's the second job? What's the difference in pay?
The Ramsey Show
You Have to Know Where You Are Financially to Know Where You're Going
Okay. And you're torn between this? I mean, this is a massive pay difference. The shift to me, shifts can shift. Sorry for being cheesy, but it's not like you're stuck in that shift forever. But my goodness, you're talking about the difference between $110K and $70K.
The Ramsey Show
You Have to Know Where You Are Financially to Know Where You're Going
Okay, so where do you want to end up? Now this changes the entire conversation for me. Where do you want to be 10 years, 15, 20 years from now? What are you doing professionally? I want to have my own business. Doing what? More than likely construction. And would the degree that the second option would be willing to pay for, would that be an absolute must to get into construction?
The Ramsey Show
You Have to Know Where You Are Financially to Know Where You're Going
I didn't ask you that. I didn't ask you that. So let me put it this way. My policy on any degree has always been and will always be this. Is the degree, I don't care if it's undergrad or grad, is it the only way to do what you want to do, or is it the best way to do what you want to do? So answer the question that way. No. Then don't freaking do it.
The Ramsey Show
You Have to Know Where You Are Financially to Know Where You're Going
It is wasted time, which is our greatest asset as humans is time. And it's wasted money. So, man, I just saved you a lot of time and money.
The Ramsey Show
You Have to Know Where You Are Financially to Know Where You're Going
I would not take the new job. I'd go back to the previous employer.
The Ramsey Show
You Have to Know Where You Are Financially to Know Where You're Going
Can we dig in the numbers, George? Please. All right. I'm going to facilitate. I love this. Because you're the money guru. All right, Rob, I want you to just walk George through a couple of the – let's just do the lowest, the smallest two debts in the debt snowball, and tell us what the minimum monthly payment is on those. Walk us through those.
The Ramsey Show
You Have to Know Where You Are Financially to Know Where You're Going
Well, I was kind of in the middle because, I mean, I've worked. No, you were not. You know it's impossible to be in the middle. There was a way that you were leaning before you made the call. Which way were you leaning? You couldn't get a hold of us, and you had to make a decision in two minutes. And you're on the phone, and they go, I can't get you in with Ken and George today.
The Ramsey Show
You Have to Know Where You Are Financially to Know Where You're Going
And you've got to give an answer. Which way were you leaning? Tell the truth. Probably the money. Yeah, because you've got a brain. And you've got people who rely on you. And the money in this equation sets you up better to be a business owner than this degree does.
The Ramsey Show
You Have to Know Where You Are Financially to Know Where You're Going
A lot of cushion, too. You need a fat emergency fund. You need no debt. And George, take it away on the pension thing too, because we don't want him just relying on that pension. I want to bring you into that.
The Ramsey Show
You Have to Know Where You Are Financially to Know Where You're Going
So George and I have spoken. You take the better paying job because of the long-term play here. And, man, I just want to reiterate this. There's a really handsome guy out in the lobby that was shaking his head when I was giving my little is it the only way or is it the best way degree thing. I want to just reemphasize that because I know that's new to people.
The Ramsey Show
You Have to Know Where You Are Financially to Know Where You're Going
And I have found, because I've coached 10,000 people on this very issue, Ken, should I get a degree? What should I do to grow in my professional development? And the degree, when it is the only way, it's a no-brainer. When it's the best way, it's still a no-brainer, but you may need to be patient.
The Ramsey Show
You Have to Know Where You Are Financially to Know Where You're Going
But this idea that, well, I can go get a degree, and they pay for it, and now I got this degree, and all of a sudden, This piece of paper, I can see it. It's a degree.
The Ramsey Show
You Have to Know Where You Are Financially to Know Where You're Going
It's a diploma. Yeah. And it does not guarantee success. And I just can't say it enough, George, because this comes back to Borrowed Future. This comes back to some of the podcasts that you've done. I mean, this is what you talk about traps in your book, Breaking Free from Broke.
The Ramsey Show
You Have to Know Where You Are Financially to Know Where You're Going
Let's go to college to get a job, to pay off the loans with a job. And it's sold to us as, it sucks, but you got to do it. No, getting a student loan or going to get a degree that you can't afford is not like going to the dentist. You got to go to the dentist. You don't have to go to college. And I just think that that's the cultural message here.
The Ramsey Show
You Have to Know Where You Are Financially to Know Where You're Going
And I think it's slowly eroding as we see the crazy compound of student loan debt.
The Ramsey Show
You Have to Know Where You Are Financially to Know Where You're Going
Can you not tell? Doing it so much, man. Wow. I'll learn more about your flossing technique on the break. Thank you. Don't go anywhere. We'll be right back. This is The Ramsey Show.
The Ramsey Show
You Have to Know Where You Are Financially to Know Where You're Going
Right, so what's your minimum payments on those? Uh, 58 and 133. All right. So now, now let's go the next level up. What's, what's, uh, the small, the thirds, let's go up this, let's go, you know what I'm trying to say? I'm struggling. It's a Friday folks. What are the next two, the next two debts?
The Ramsey Show
You Have to Know Where You Are Financially to Know Where You're Going
Welcome back to the Ramsey Show. I'm Ken Coleman. George Camel is with me. This is your show, 888-825-5225. George is going to coach you up on how to save and invest your money. And I'm going to coach you up on how to make more money. So that is the combo today. Time for our Ramsey Show question of the day brought to you by YRefi.
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You Have to Know Where You Are Financially to Know Where You're Going
When the payment on your defaulted private student loan is as much as some mortgages, it's hard to get ahead. That's why when YRefi, and that's actually when YRefi can help. Refinancing to a low fixed rate loan built just for you. Find out more at YRefi.com slash Ramsey. That's the letter Y. R-E-F-Y dot com slash Ramsey. It may not be available in all states.
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You Have to Know Where You Are Financially to Know Where You're Going
Yeah, I love the advice. Couldn't agree more. I mean, he's putting $500 a month in the Robinhood account. So if we just start moving that over as well to the truck. That's going to be gone soon. So he's going to knock the truck out quick, and then you start working on the house.
The Ramsey Show
You Have to Know Where You Are Financially to Know Where You're Going
Okay. So what are the minimum payments on the 2,200 and the 6,000?
The Ramsey Show
You Have to Know Where You Are Financially to Know Where You're Going
I like it. Thanks for the question. All right, back to the phones we go. 888-825-5225. Andrew is in Austin, Texas. Andrew, how can we help?
The Ramsey Show
You Have to Know Where You Are Financially to Know Where You're Going
This is just so warped, the way you describe this. I just think you need such clear and very high boundaries that are in stone, like concrete boundaries, not flexible plastic fencing boundaries. This is just so weird, and I think there needs to be a real clear, clean boundary established and walk away from this nonsense.
The Ramsey Show
You Have to Know Where You Are Financially to Know Where You're Going
Because this isn't just coming at you, they're coming at your sisters too, you said. So this is so unhealthy and so, and I use the word warped on purpose. you've got to make a clean cut for now and hope for healing, hope for something. But there's nothing you can do anyway. So them putting this guilt trip on you because they're desperate.
The Ramsey Show
You Have to Know Where You Are Financially to Know Where You're Going
And I don't want to be too critical, George, of the parents. It is warped. It's crazy unhealthy. But they are hurting, and they're desperate. And this smells of desperation.
The Ramsey Show
You Have to Know Where You Are Financially to Know Where You're Going
Yeah, I agree. That just feels so manipulative. Let's see if we can get Eric in. Eric is in Atlanta, Georgia. Eric, how can we help? Hey, how are you guys doing? Good. What's going on today?
The Ramsey Show
You Have to Know Where You Are Financially to Know Where You're Going
So, Rob, what I'm trying to do, what I'm trying to get George in here. George, I'm trying to show him. That's $600 in payments on the first three debts. I knew you would pick up the ball if I passed it to you. Do you see the real momentum here, Rob? We're talking about real savings quicker than trying to pay off the other cards. I mean, the high interest stuff. You need some momentum in this deal.
The Ramsey Show
You Have to Know Where You Are Financially to Know Where You're Going
There we go. All right, this is The Ramsey Show. We'll come up with a dating plan for Eric's life on the break.
The Ramsey Show
You Have to Know Where You Are Financially to Know Where You're Going
All right, folks, welcome back to The Ramsey Show. I'm Ken Coleman. George Campbell is alongside me. You know, money and relationships are two of the most important parts of our life. And a lot of stress. A lot of conflict around those two areas. But you can win in your money and your relationships. But if you need some help, we've got a new tour. The money... And Relationships Tour.
The Ramsey Show
You Have to Know Where You Are Financially to Know Where You're Going
Very creative. I wonder how long the team spent on that. Sadly, they probably came up with 17 cool names and then decided, let's just make it clear. Yeah, the Money and Relationships Tour. It's Dave Ramsey and John Deloney hitting the road for six nights. And they're going to be taking on all topics. They're going to be taking questions. They're going to be kind of live and unscripted, unfiltered.
The Ramsey Show
You Have to Know Where You Are Financially to Know Where You're Going
raising money, smart kids, how to fight fairly in marriage, finding contentment. The cities are Louisville on April 21, Durham, North Carolina, April 23, Atlanta, Georgia, April 25, Phoenix, May 5, Fort Worth, Texas on May 7, Kansas City on May 9. You don't want to miss this. Go to ramseysolutions.com slash tour, ramseysolutions.com slash tour.
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You Have to Know Where You Are Financially to Know Where You're Going
And if you're listening via podcast or you're watching on YouTube, click on the link in the show notes, which, by the way, I should say, the show notes are a treasure trove, I should say. I didn't say it well, but I did say it.
The Ramsey Show
You Have to Know Where You Are Financially to Know Where You're Going
A hidden gem. Anything we talk about, if you didn't catch it and you're on podcast or YouTube, go to the show notes, and we've got a link for you. All right. Jordan's up next in Philadelphia, Pennsylvania. Jordan, how can we help today? Happy Friday, guys. How are you guys doing? Happy Friday, sir.
The Ramsey Show
You Have to Know Where You Are Financially to Know Where You're Going
You said you wanted to do the HELOC for it. We get it. But we're just trying to help you get some momentum. The momentum is the issue. Dave has proven this for decades through people who followed it. It is about momentum. That's what we're trying to help you understand. George?
The Ramsey Show
You Have to Know Where You Are Financially to Know Where You're Going
You know, I heard all the news this morning. Got to get your quick take on it. What's that? There is now, there is a crypto bar in New York City.
The Ramsey Show
You Have to Know Where You Are Financially to Know Where You're Going
oh I have heard about this have you heard this yeah and I was thinking of you I heard it I was like I wonder what George knows about this so I guess I'll tell you it's the worst place to meet a woman because he won't find one in there yeah so if you just want to hang out with other crypto pros yeah Stuart Varney was asking this was on Fox Business Stuart Varney was asking his female co-host who was talking about it he's like can you pay for your beer with crypto and she's like yeah and she's like you wouldn't know how to do it you know so I guess Stuart has not jumped on the crypto train but very interesting
The Ramsey Show
You Have to Know Where You Are Financially to Know Where You're Going
Yeah. A crypto bar. I've got a dark curiosity. She said it's full of crypto enthusiasts. Oh, wow. So there you go. So my point is next time you're in New York doing media, I think you should go do that for TikTok and Instagram. Just do a little drop in.
The Ramsey Show
You Have to Know Where You Are Financially to Know Where You're Going
That could be fun. No, thank you. All right. Let's go to Sarah in Denver, Colorado. Sarah, how can we help?
The Ramsey Show
You Have to Know Where You Are Financially to Know Where You're Going
Wow, you're a money hero. Hold on a second. Let me put my cape over the chair here. There it is. There it goes. How can we help?
The Ramsey Show
You Have to Know Where You Are Financially to Know Where You're Going
I love that play. I'm starting to do that with my kids, and they're starting to pay attention a little bit. So I love that advice. Uncle George will come over. I'll show him the ropes. We need more Uncle George around the house. All right, folks. Appreciate you being with us. This is The Ramsey Show.
The Ramsey Show
You Have to Know Where You Are Financially to Know Where You're Going
There you go. That's a very good point. You don't even know what a stamp is. I'll explain that to him during the commercial break, but we're here for you, America. 888-825-5225. 888-825-5225. Now, we're going to coach you on saving your money, investing your money, making more money. That's what George and I do together, and I warn you ahead of time, we have fun.
The Ramsey Show
You Have to Know Where You Are Financially to Know Where You're Going
Yeah. All right. Quick break. I'm going to try on George's bomber jacket, see if it fits. And we'll be back. This is The Ramsey Show.
The Ramsey Show
You Have to Know Where You Are Financially to Know Where You're Going
Welcome back to The Ramsey Show. Alongside George Camel, I'm Ken Coleman. Thrilled to have you with us, 888-825-5225, 888-825-5225. Let's go to Salt Lake City, Utah, and Sean is joining us there. Sean, how can we help today?
The Ramsey Show
You Have to Know Where You Are Financially to Know Where You're Going
Okay, let's break that down. You set it up wonderfully. I need to get some facts. How much are you making now?
The Ramsey Show
You Have to Know Where You Are Financially to Know Where You're Going
All right, so let's just fast forward, and let's say you got the $125,000 in cash to cash flow becoming a physician's assistant, if I heard you correct. What would be your range of income as a physician's assistant?
The Ramsey Show
You Have to Know Where You Are Financially to Know Where You're Going
All right. Okay, so how long, if you weren't allowed to take out a loan, how long would it take you to come up with the money off your current income? You should make a pretty good money. I wrote you down as between $125,000 and $140,000 based on how kind of loose you were with that. So I think that's a good range.
The Ramsey Show
You Have to Know Where You Are Financially to Know Where You're Going
How long would it take you to cash flow your way, to come up with the cash to do it without the loan?
The Ramsey Show
You Have to Know Where You Are Financially to Know Where You're Going
Yeah. I was going to say, there's no way you're only making a hundred. I don't own. Go ahead.
The Ramsey Show
You Have to Know Where You Are Financially to Know Where You're Going
Okay, but we've got to solve the first problem. So, Sean, I want you to take a deep breath and slow down a little bit. I'm going to actually do all the heavy lifting for you and walk you through this, all right? So let me guide you through this. So the first problem we've got to solve is you want to get off the road of being a travel nurse. It's just a quality of life issue.
The Ramsey Show
You Have to Know Where You Are Financially to Know Where You're Going
uh this is serious stuff but we also have fun while we're doing gotta bring some levity to it yeah or else we get bored and uh we don't want that by the way great looking studio audience today here uh on the other side of the glass so we'd love to see you sometime if you want to come join and watch the show live we'd love to see you all right let's get started 888-825-5225 again is the phone number rob starts us off in hartford connecticut bob oh excuse me rob uh how can we help today
The Ramsey Show
You Have to Know Where You Are Financially to Know Where You're Going
I think that makes a lot of sense. That's the first problem to solve, not the house, correct? Correct.
The Ramsey Show
You Have to Know Where You Are Financially to Know Where You're Going
true that's part of it but yes for sure i know but i'm helping you by understanding what your priorities are so that's your priority so the the move for you is as well i'm going to take a pretty significant hit if i don't have the physician's assistant situation if i jump back just to traditional nursing i'm going to take a pretty big hit correct Correct. Okay.
The Ramsey Show
You Have to Know Where You Are Financially to Know Where You're Going
So we start looking at, okay, when we coach people, we want to help you come up with a decision. Let's not tell you what to do. And so we look at, okay, I'm single. I want to save for a house, and I want to get off the road, but I'm making really good money now. I do take a little bit of downtime. So which is the most important goal? Is it to be a physician's assistant and also make a round 110?
The Ramsey Show
You Have to Know Where You Are Financially to Know Where You're Going
Is that a huge priority for you career-wise?
The Ramsey Show
You Have to Know Where You Are Financially to Know Where You're Going
How old are you now? I just turned 40. All right. You're a young guy. Okay. So going through these priorities, Sean, I'm going to take the greatest opportunity that I have to stack cash. That would then allow me to set myself up when I am 60. So you don't want to be traveling nurse when you're 60. But you got 20 years to get that physician's assistant degree.
The Ramsey Show
You Have to Know Where You Are Financially to Know Where You're Going
So putting yourself in debt right now to me seems completely nonsensical. You know we're not for debt. You knew that when you called us. Right. But forget our philosophical beliefs about this. I don't care who you are. In your position, I just think you got to be a little bit patient. And just why put yourself in $125,000 worth of debt when in your case, you don't actually have to.
The Ramsey Show
You Have to Know Where You Are Financially to Know Where You're Going
You like your job. You're making really good money. George, I want to bring you in here because even if you weren't anti-debt like we are, it still doesn't make any sense given where he is in his life.
The Ramsey Show
You Have to Know Where You Are Financially to Know Where You're Going
And let's play time. That's right. Sean, let's play this out. You do what George just said. You're only two years of patience there. And then now you're stacking cash for the house.
The Ramsey Show
You Have to Know Where You Are Financially to Know Where You're Going
Yeah. Well, I mean, we've told you what we would do. We just want to save you that burden of debt. You just don't need it. Nobody needs debt. You really don't need it in this situation. Let's go to Scott in Philadelphia, Pennsylvania. Scott, how can we help? Hello, Scott. Hi, how's it going? Good. How can we help?
The Ramsey Show
If You Want to Build Wealth, Stop Acting Like Everyone Else
Let me ask you this. What is it that you all want to know? Let's just assume that they were like, sure. What is it that you're looking to discover?
The Ramsey Show
If You Want to Build Wealth, Stop Acting Like Everyone Else
Yeah, I appreciate the call, River. And again, you guys can do this. It is not easy, but it is simple.
The Ramsey Show
If You Want to Build Wealth, Stop Acting Like Everyone Else
We didn't ask, but if you look at the data, Rachel... I believe the number is the average car payment in America right now is like north of $750. Yeah, a new one is $781. So let's just play off of that. So let's just imagine that his car payment is somewhere between $500 and $700. I don't think that's a stretch.
The Ramsey Show
If You Want to Build Wealth, Stop Acting Like Everyone Else
That's a massive raise for a young man like this who's about to get married.
The Ramsey Show
If You Want to Build Wealth, Stop Acting Like Everyone Else
If you split the difference, it goes $600. I don't have to take my boots off to add this one. That's $7,200 a year. $600 times 12. Yeah, you know, I don't have to use my digits. I can do that quick multiplication. I paid attention.
The Ramsey Show
If You Want to Build Wealth, Stop Acting Like Everyone Else
I paid attention to that level.
The Ramsey Show
If You Want to Build Wealth, Stop Acting Like Everyone Else
Sometimes I have to explain it during the commercial.
The Ramsey Show
If You Want to Build Wealth, Stop Acting Like Everyone Else
Keep on flowing. This is The Ranch.
The Ramsey Show
If You Want to Build Wealth, Stop Acting Like Everyone Else
Welcome back to The Ramsey Show. Alongside Rachel Cruz, I'm Ken Coleman. We're thrilled to have you with us. The phone number to jump in is 888-825-5225. Today's question of the day is brought to you by YRefi. YRefi refinances defaulted private student loans. Defaulted means when the borrower cannot make the required payment. So if that's you and your student loan, contact YRefi.
The Ramsey Show
If You Want to Build Wealth, Stop Acting Like Everyone Else
They can offer a low fixed rate loan built for you. Go to YRefi.com slash Ramsey right now. That's the letter Y-R-E-F-Y dot com slash Ramsey. It may not be available in all states.
The Ramsey Show
If You Want to Build Wealth, Stop Acting Like Everyone Else
All right. So that reveals the answer to my next question, Rachel, is going to be why. Why do you want to know what it is that you want to know? And it seems like you guys are trying to be thoughtful, strategic.
The Ramsey Show
If You Want to Build Wealth, Stop Acting Like Everyone Else
I put in the current age of one. He may be thinking zero, but, you know, I just did quick numbers. Retire at 70, you only put $1,000 in, and you never contribute monthly. And on this number, you are getting an annual return of 10%. So I could drop that to 8% for the cynics. And let's see what that does. So it's a lot different. Two hundred forty five thousand. So there you go.
The Ramsey Show
If You Want to Build Wealth, Stop Acting Like Everyone Else
This is the Ramsey Show. Welcome, America. We're here to help you win with your money, win in your profession, and win with your relationships alongside the graceful, the fabulous Rachel Cruz, fresh off of her first inaugural ball, I might add. We might hear about that. We might not. She joins me. I'm Ken Coleman, and we're here for you. The phone number is 888-825-5225, 888-825-5225. 825-5225.
The Ramsey Show
If You Want to Build Wealth, Stop Acting Like Everyone Else
But yeah, the question holds. Why don't more people do it? Because they don't understand compound interest. How many years have we taught that simple lesson of compound interest? And it's just most people don't even think about it.
The Ramsey Show
If You Want to Build Wealth, Stop Acting Like Everyone Else
By the way, I adjusted the number to zero. I didn't know if the thing would let me do it. So a newborn baby, it would get to $1,065,261 at the age of 70 at a 10% annual return. So there you go. There you go.
The Ramsey Show
If You Want to Build Wealth, Stop Acting Like Everyone Else
You know, I usually let the money personalities do that, James, but I feel pretty good there after a test run right there under pressure. I'm so proud of you.
The Ramsey Show
If You Want to Build Wealth, Stop Acting Like Everyone Else
I'm having fun with this, folks, because if I can do it while hosting a show with my squirrel running around in my brain, you need to be going to RamseySolutions.com and start plugging it in. Use the investment calculator. Imagine how much fun you can have with it when you're not hosting a show while doing it. So it's great. I think that was a wonderful exhibition there.
The Ramsey Show
If You Want to Build Wealth, Stop Acting Like Everyone Else
Madison is up in Phoenix, Arizona. Madison, how can we help today?
The Ramsey Show
If You Want to Build Wealth, Stop Acting Like Everyone Else
Tell us about the look for work first, and what is your bridge right now as far as income? Savings you're living off of? Give us a quick picture.
The Ramsey Show
If You Want to Build Wealth, Stop Acting Like Everyone Else
So I have... Have you been paying off your house through that emergency fund that you had set aside?
The Ramsey Show
If You Want to Build Wealth, Stop Acting Like Everyone Else
Oh, okay. So what I'm asking you, though, is I'm just curious, that money you had set aside, had you been paying your house payment, paying it off or working on that up until this point through that fund?
The Ramsey Show
If You Want to Build Wealth, Stop Acting Like Everyone Else
Well, no, I wouldn't be doing, I mean, we would tell you to slow down, pause everything. You've got to get some employment here. I love that you had an extra rainy day fund.
The Ramsey Show
If You Want to Build Wealth, Stop Acting Like Everyone Else
No, paying it off. No, that's the right question. Madison, you don't have any income.
The Ramsey Show
If You Want to Build Wealth, Stop Acting Like Everyone Else
Okay, you buried the lead. So you have $72,000 somewhere else? Yes.
The Ramsey Show
If You Want to Build Wealth, Stop Acting Like Everyone Else
Okay. That's going to be okay. If you were to never touch that, by the time you're in your 70s, that's going to be a really nice number. Here's what I'm confused about, Rachel. Madison, why aren't you working?
The Ramsey Show
If You Want to Build Wealth, Stop Acting Like Everyone Else
I understand it's hard sometimes to get back in the market, but to go 12 months with zero income doing something and you're whittling down these other two accounts, I don't understand why you're not working.
The Ramsey Show
If You Want to Build Wealth, Stop Acting Like Everyone Else
What were you doing? What was the last job you had 12 months ago? I was working in the medical field. Doing what?
The Ramsey Show
If You Want to Build Wealth, Stop Acting Like Everyone Else
Okay. My point is you don't sit around and not that you're sitting, let me rephrase that. You don't just keep applying and do all this. And if nothing's happening, you don't just keep pulling money out of the savings account. I'm proud of you and glad you had it, but you need to start to happen to life and life is happening to you. I don't understand what that skillset, why you aren't
The Ramsey Show
If You Want to Build Wealth, Stop Acting Like Everyone Else
applying for multiple different types of jobs i don't care if it's a shift manager at home depot or at banana republic or i'm driving i'm doing something you have got to be bringing an income because i guess you don't need a whole lot like what is your what do you need to actually survive each month to cover your bills we only got about a minute so give me a real quick answer um i would say thirteen hundred dollars you need thirteen hundred dollars to to survive
The Ramsey Show
If You Want to Build Wealth, Stop Acting Like Everyone Else
Go make $1,300 in February doing something. Now, I want to bring it back to Rachel to answer the bigger question. She's got $72,000 in the bank.
The Ramsey Show
If You Want to Build Wealth, Stop Acting Like Everyone Else
$1,300. That's the great news.
The Ramsey Show
If You Want to Build Wealth, Stop Acting Like Everyone Else
And you know what? There's lots of things that you can do. Hold on the line, Madison. Can we give her a copy of my book, The Proximity Principle? Read this and do this and go get paid. This is The Ramsey Show.
The Ramsey Show
If You Want to Build Wealth, Stop Acting Like Everyone Else
Welcome back to The Ramsey Show alongside Rachel Cruz. I'm Ken Coleman, and we're here for you, America. Thank you for being with us. Hey, we just had a wildly successful virtual event last night, and that leads me to tell you we are coming back with part two of what was a successful event last year. It's a two-night virtual event known as Investing Essentials.
The Ramsey Show
If You Want to Build Wealth, Stop Acting Like Everyone Else
I think you've got to take a sign here. And I'm going to go back to my line of questioning.
The Ramsey Show
If You Want to Build Wealth, Stop Acting Like Everyone Else
This is with Dave Ramsey and George Camel. This was a wildly successful event last year. Because people know that investing, Rachel, is very confusing. It's intimidating. And so in this event, we're going to cover everything through maximizing your 401k and mutual funds. And then Dave is going to give his personal playbook on how he invests in real estate.
The Ramsey Show
If You Want to Build Wealth, Stop Acting Like Everyone Else
So this is not an Instagram reel with eight cuts and cool music designed to get you to click a link. This is a tried and true investing strategy that Dave has done for many decades. So that's also a popular part of this. It is happening March 4 and 5. So put that on your calendar or go ahead right now to ramseysolutions.com slash events, ramseysolutions.com slash events, and you can sign up.
The Ramsey Show
If You Want to Build Wealth, Stop Acting Like Everyone Else
So to the best of your ability, you guys need to just run a scenario, feels like to me, where you go, all right, let's say they give us this property and that property. What would we need to know to be able to be prepared to make the most of that? Go ahead and run that exercise out. You don't need to know which ones.
The Ramsey Show
If You Want to Build Wealth, Stop Acting Like Everyone Else
Tickets start at $199 March 4 and 5. So that will be fun. Love to see you there. All right, Bobby's up in Atlanta, Georgia. Bobby, how can we help today?
The Ramsey Show
If You Want to Build Wealth, Stop Acting Like Everyone Else
Good. How are you doing today?
The Ramsey Show
If You Want to Build Wealth, Stop Acting Like Everyone Else
Downgrade for her. Bobby, you must be a very convincing or charming young man. Maybe very handsome, too.
The Ramsey Show
If You Want to Build Wealth, Stop Acting Like Everyone Else
Hey, real quick question, and we'll get down to the important stuff. What America wants to know, is the wedding in Scotland, and are you going to wear a kilt?
The Ramsey Show
If You Want to Build Wealth, Stop Acting Like Everyone Else
25% is pretty good, though. I'll take it. And, Bobby, I know I'm not getting an invite, but if I was to be invited, the Coleman line of— The crest or your plaid?
The Ramsey Show
If You Want to Build Wealth, Stop Acting Like Everyone Else
With the high socks, I'd commit to the whole outfit.
The Ramsey Show
If You Want to Build Wealth, Stop Acting Like Everyone Else
Bobby, listen, I could be talked into hosting the reception. Email my team. We'll talk about it. We'll see if we can make it work. All right, Bobby, this is great. So you guys grew up, different money culture, the way you looked at it?
The Ramsey Show
If You Want to Build Wealth, Stop Acting Like Everyone Else
Well, that's what he said.
The Ramsey Show
If You Want to Build Wealth, Stop Acting Like Everyone Else
What's your question, Bobby? She's correcting me. I know where he's going.
The Ramsey Show
If You Want to Build Wealth, Stop Acting Like Everyone Else
If you know the whole portfolio and you know that you could get, and I'm getting, let me just walk you through this. How many properties are we talking about total?
The Ramsey Show
If You Want to Build Wealth, Stop Acting Like Everyone Else
Is debt a tool or is it a disease?
The Ramsey Show
If You Want to Build Wealth, Stop Acting Like Everyone Else
Do they have money over there?
The Ramsey Show
If You Want to Build Wealth, Stop Acting Like Everyone Else
So that fast-forwards everything.
The Ramsey Show
If You Want to Build Wealth, Stop Acting Like Everyone Else
So now it's emergency fund, right out of the gate when you guys get married?
The Ramsey Show
If You Want to Build Wealth, Stop Acting Like Everyone Else
What will your, what will your starting salary be? Do you have any idea?
The Ramsey Show
If You Want to Build Wealth, Stop Acting Like Everyone Else
Let me tell you something. Atlanta, if you guys are anywhere near the Atlanta area, that's a big event town. So that's good news. It's good news for her.
The Ramsey Show
If You Want to Build Wealth, Stop Acting Like Everyone Else
And they are owned assets. Go do your homework on those three properties. What is it that you feel like you would need to know if you were to come into ownership today? Whatever you told us your concerns were, go ahead and figure that out.
The Ramsey Show
If You Want to Build Wealth, Stop Acting Like Everyone Else
I think she'll love the emergency fund concept.
The Ramsey Show
If You Want to Build Wealth, Stop Acting Like Everyone Else
You know, like just big picture. I thought your advice was really great.
The Ramsey Show
If You Want to Build Wealth, Stop Acting Like Everyone Else
I mean that to like, they don't need, they're already advanced in the baby steps in that.
The Ramsey Show
If You Want to Build Wealth, Stop Acting Like Everyone Else
They're going to start at baby step three.
The Ramsey Show
If You Want to Build Wealth, Stop Acting Like Everyone Else
And we build that. I think any woman, any human wants that safety. So explaining that concept to her, you're already halfway there, it looks like. And so the investing part that Rachel's talking about, I mean, and then saving for kids, college and all that stuff.
The Ramsey Show
If You Want to Build Wealth, Stop Acting Like Everyone Else
I would just ease her into it, man, and just focus on the positive vision stuff because you don't have a problem that you're trying to fix right out of the gate. I thought it was great.
The Ramsey Show
If You Want to Build Wealth, Stop Acting Like Everyone Else
By the way, a nod to our Scottish friends. If you look, if you're watching, see this green sweater I have on. You can't see below the desk, but imagine me in a blue and green kilt right now that matches a sweater. I think it would look great. I'll be honest. This is The Ramsey Show.
The Ramsey Show
If You Want to Build Wealth, Stop Acting Like Everyone Else
This is The Ramsey Show. Thrilled to have you with us. We're here to help you win with your money, win in your profession, and win with your relationships. 888-825-5225 is the phone number. Alongside the lovely, talented, and my friend Rachel Cruz, I am just Ken. But I am Kenuff, they tell me. Ken Coleman, your host today. There's a little Barbie reference. Did you catch that one?
The Ramsey Show
If You Want to Build Wealth, Stop Acting Like Everyone Else
Yeah, I try. I try to embrace the pop culture as much as I can being middle-aged. All right, let's get right to the phones. Richmond, Virginia, my old stomping grounds. I used to live there when I worked for the governor of Virginia, in case you were wondering. Jake is there. Jake, how can we help today?
The Ramsey Show
If You Want to Build Wealth, Stop Acting Like Everyone Else
He just swallowed really hard. Did you hear that? He was like, what?
The Ramsey Show
If You Want to Build Wealth, Stop Acting Like Everyone Else
What do you mean by car issues? Can you be more specific?
The Ramsey Show
If You Want to Build Wealth, Stop Acting Like Everyone Else
350,000 miles? What brand of car is it?
The Ramsey Show
If You Want to Build Wealth, Stop Acting Like Everyone Else
It's been pretty good to me. I will tell you.
The Ramsey Show
If You Want to Build Wealth, Stop Acting Like Everyone Else
Best cars you'll ever have. Yeah, I'm not trying to endorse it, but you hear that a lot. Of course, our friend George would say Toyota. No, Toyota. He doesn't know how to say it.
The Ramsey Show
If You Want to Build Wealth, Stop Acting Like Everyone Else
I would say, Rachel, I'm glad we brought this up because I think this car is literally a moment away from dying.
The Ramsey Show
If You Want to Build Wealth, Stop Acting Like Everyone Else
This is my favorite thing to do.
The Ramsey Show
If You Want to Build Wealth, Stop Acting Like Everyone Else
I got used cars for sale in Richmond, Virginia. Are you in the greater Richmond area? No.
The Ramsey Show
If You Want to Build Wealth, Stop Acting Like Everyone Else
that four thousand dollar car right around there yeah now it's a dodge we got to get the guy a toyota i'm not gonna give him a dodge avenger okay but but i but for crying out loud okay i mean listen some of these cars i want to make the point that it's not a complete beater here let me just this is worth okay here we go a 2014 chevrolet impala all right uh 10 years old 4 000 bucks $4,000.
The Ramsey Show
If You Want to Build Wealth, Stop Acting Like Everyone Else
142,000 miles. It's a Chevrolet. Yeah, there you go. It's not the greatest brand in the world, but they're not expensive to fix either. That's true. It's America for you. And having Impala, it's a famous song, famous line. I'll let the audience figure that one out. But I know you don't know it. I'll share it during the break. It's too much to try to explain to you. It's an age thing.
The Ramsey Show
If You Want to Build Wealth, Stop Acting Like Everyone Else
She just doesn't. She doesn't get it. But anyway, that's the example there. And I really am having fun with this, but people don't realize what you can get for under $5,000. Yes. And let's be honest, he's driving a turd.
The Ramsey Show
If You Want to Build Wealth, Stop Acting Like Everyone Else
And so for four grand, you get the Chevy Impala. Is it good looking? I'm not going to lie to you.
The Ramsey Show
If You Want to Build Wealth, Stop Acting Like Everyone Else
Yeah, I'm saying the Impala, the 2014 Impala is not a car that you buy for status. Sure.
The Ramsey Show
If You Want to Build Wealth, Stop Acting Like Everyone Else
And we're on team Megan, okay, Megan? So take this the right way. I'm on your team, okay? They've made it clear for some reason, and I'm not a therapist and nor am I a mind reader, But it's pretty clear to me that they've made it clear that they don't want you involved. So they're feeling something. Whether you did something or not, that's not the point. The point is they've laid out a boundary.
The Ramsey Show
If You Want to Build Wealth, Stop Acting Like Everyone Else
James, I got a snappy looking 2012 Mazda 3 Touring. Only five grand, 130,000 miles. And it's got a nice little blue color to it. You kind of feel good about yourself zipping into wherever it is you got to go. So again, I make the point. And a quick commercial break. I'm going to teach Rachel about this famous song lyric that involved Impala. And we'll be back. This is the Ramsey Show.
The Ramsey Show
If You Want to Build Wealth, Stop Acting Like Everyone Else
Welcome back, America. You have joined the conversation here on The Ramsey Show alongside Rachel Cruz. I'm Ken Coleman. Excited to have you with us today, taking your money calls, your income, profession-related calls, because that goes together. Let's get right back to the phones. Madison, Wisconsin is where Tyler joins us. Tyler, how can we help today?
The Ramsey Show
If You Want to Build Wealth, Stop Acting Like Everyone Else
And it doesn't matter why. We don't know and you may not know. But you need to respect the boundary because it's only going to create what Rachel is saying, some tension. So you need to go, you know what? A, they're not my parents. B, they've made it clear to my hubs that they don't want me involved. So you know what? I'm not involved. And that would be my advice from a relationship standpoint.
The Ramsey Show
If You Want to Build Wealth, Stop Acting Like Everyone Else
Let this go. Because I can tell you that we can feel it on you right now. There's some angst that you have. You can hear it on you. Because this is irritating to you. And that's okay. But you've got to deal with that. Because you don't have any control. Rachel nailed that. So sorry, we can't give you a hack. I mean, other than hiring some former CIA operative who can get information out of them.
The Ramsey Show
If You Want to Build Wealth, Stop Acting Like Everyone Else
Yeah, appreciate the call, and good job. Good job, young man. I mean, taking great care of your family, love that you got all that cash, and now you're going to be debt-free pretty soon. So don't talk yourself out of that. Don't let anybody talk yourself out of that. Rachel set you up really well, so really, really happy for you as you kind of start a new chapter. Really fun.
The Ramsey Show
If You Want to Build Wealth, Stop Acting Like Everyone Else
Let's go to Columbia, South Carolina, and Kevin is joining us there. Kevin, how can we help today?
The Ramsey Show
If You Want to Build Wealth, Stop Acting Like Everyone Else
How much money are you thinking about pulling out?
The Ramsey Show
If You Want to Build Wealth, Stop Acting Like Everyone Else
What is your current situation as far as a home? Do you own your current home?
The Ramsey Show
If You Want to Build Wealth, Stop Acting Like Everyone Else
What's the total cost of that going to be? You said $750,000 plus plus, or is it $750,000?
The Ramsey Show
If You Want to Build Wealth, Stop Acting Like Everyone Else
Great. But because you still got earning potential, still got a really nice nest egg that will continue to grow. And this is a part of your retirement strategy. So for using the funds that way for a paid off house, I don't think there's anything scary here, but make sure you do your homework. This is The Ramsey Show.
The Ramsey Show
If You Want to Build Wealth, Stop Acting Like Everyone Else
Welcome back to The Ramsey Show. I'm Ken Coleman, and Rachel Cruz is alongside. Thrilled to have you with us. Glad you're with us wherever you are, however you are watching. Let's get right back to the phones. 888-825-5225 is the number. Brandi is joining us now in Pendleton, Oregon. Brandi, how can we help today?
The Ramsey Show
If You Want to Build Wealth, Stop Acting Like Everyone Else
You bet. What's going on?
The Ramsey Show
If You Want to Build Wealth, Stop Acting Like Everyone Else
Okay, and what kind of income do you make there?
The Ramsey Show
If You Want to Build Wealth, Stop Acting Like Everyone Else
$2,800 net. Okay. And Brandy, real quick, can you try to adjust your phone a little bit? I feel like it's a little muffled. Let's see if we can hear you a little bit better if you take a look at that.
The Ramsey Show
If You Want to Build Wealth, Stop Acting Like Everyone Else
That's so much better. Thank you. Okay, and so we know what your take-home is, how much additional income... would be ideal, and I'm not talking some crazy dream number, but just this would give me some real breathing room to take care of the four walls. And let us know what that looks like.
The Ramsey Show
If You Want to Build Wealth, Stop Acting Like Everyone Else
In addition to what you're making?
The Ramsey Show
If You Want to Build Wealth, Stop Acting Like Everyone Else
Okay, so we want to go from $2,800 to $5,300. Okay, that's great. I love that you have that target. Is that an issue because of debt?
The Ramsey Show
If You Want to Build Wealth, Stop Acting Like Everyone Else
Oh, okay. All right, so let me ask you this before we dive into the numbers, and Rachel's going to help me here as we get you out of this debt and all this. And I don't want to share anything you don't feel comfortable with, but what can you do, in other words, physically with your disabilities? Just tell me what you can do physically instead of going through what you can't do.
The Ramsey Show
If You Want to Build Wealth, Stop Acting Like Everyone Else
What are you able to do?
The Ramsey Show
If You Want to Build Wealth, Stop Acting Like Everyone Else
Have you looked at freelance work, because it's everywhere, in programming? Because that's your greatest skill, is the programming. If you were doing what you were doing for a for-profit business, not a ministry, my guess is you might be making 20 to 30 percent more. Is that outrageous, what I'm saying?
The Ramsey Show
If You Want to Build Wealth, Stop Acting Like Everyone Else
Listen, I would be putting all my attention right now into freelance opportunities with your programming skills because that's going to pay you top notch for your time. Of all the things that you could do, and when we look at exchanging time for money, that's going to be your highest rate. You agree with that, correct? Correct. That's what I would be doing.
The Ramsey Show
If You Want to Build Wealth, Stop Acting Like Everyone Else
Because when I look at that number of increasing your income by an additional $2,500 a month, that's what I would be doing. Now, I want to bring Rachel in.
The Ramsey Show
If You Want to Build Wealth, Stop Acting Like Everyone Else
pay off all this debt um okay pause pause real quick let's hold on brandy hold on one second i want to make sure rachel gets this that i get this the home that you're going to sell it's not the home you're living in and it's in a different area is that correct yeah i have a renter in there right now um that's part of my income what do you stand to make if you sold that today what do you think you can make on that walking away
The Ramsey Show
If You Want to Build Wealth, Stop Acting Like Everyone Else
And you owe your ex $12,500 out of the proceeds of that $110,000.
The Ramsey Show
If You Want to Build Wealth, Stop Acting Like Everyone Else
Yeah. I mean, what went off in your head when you heard her say, they've made it clear that they don't want me involved? I'm just curious, your female intuition and also your professional intuition. What did you think?
The Ramsey Show
If You Want to Build Wealth, Stop Acting Like Everyone Else
And these are serious topics, but we like to have some fun. We do our best to smile and coach you up because we want you to win. So it's going to be fun today. You ready to go, partner? Let's do it. She's ready. Megan joins us in Des Moines, Iowa. Megan, how can we help today?
The Ramsey Show
If You Want to Build Wealth, Stop Acting Like Everyone Else
Okay. But I tell you what, this is great news. Brandy, I'm sorry that you're a single mama. I'm sorry you're going through all this. I'm sorry that you're dealing with these disabilities. But I wanted to encourage you. I'm so impressed. You're tough as nails. And I am so impressed. And I'm also happy for you. You're going to get out of this debt here pretty soon.
The Ramsey Show
If You Want to Build Wealth, Stop Acting Like Everyone Else
I really believe that I want you to, if you try... And keep trying and keep trying to sell your programming skills. I think we can get to that money goal of increased income a lot faster than you. Here's my point. You can do that at home. And you know what I mean? And be around the babies.
The Ramsey Show
If You Want to Build Wealth, Stop Acting Like Everyone Else
That's what I thought. Because then you asked her, and she said, fairly.
The Ramsey Show
If You Want to Build Wealth, Stop Acting Like Everyone Else
not out in a car driving around and you're already struggling with some physical stuff bless your heart i just really would like you to try that there's so much skill set and experience that you have to offer to the world uh i would go that route and i mean aggressive and so i mean i would talk to anybody and everybody on social media in your network at the church you know wherever you're frequenting with the kids hey i'm a programmer i'm a single mama and
The Ramsey Show
If You Want to Build Wealth, Stop Acting Like Everyone Else
And I'm looking to do some contract work. That is okay. There's no shame in that statement. And I think people will say, hey, I need some programming work. They may not be able to afford you as a full-time employee, but pay you an hourly rate.
The Ramsey Show
If You Want to Build Wealth, Stop Acting Like Everyone Else
When someone asks me, if you ask me, do you have a good relationship with somebody, and if I drop fairly on you, Yes.
The Ramsey Show
If You Want to Build Wealth, Stop Acting Like Everyone Else
So I would really encourage you to do that, Brandy. And we're rooting for you. Follow the baby steps. So excited to hear you say. Pretty soon, I'm in Baby Step 4, and what a legacy that is. Rachel, it breaks my heart for the single mamas.
The Ramsey Show
If You Want to Build Wealth, Stop Acting Like Everyone Else
Toughest people on the planet.
The Ramsey Show
If You Want to Build Wealth, Stop Acting Like Everyone Else
We're cheering for you, Brandi. This is The Ramsey Show. We'll be right back.
The Ramsey Show
If You Want to Build Wealth, Stop Acting Like Everyone Else
All right, America, we're back after a quick break. This is The Ramsey Show. I'm Ken Coleman. Rachel Cruz is with me, and we're excited to have you with us. Phone number is 888-825-5225. And the real estate market, Rachel. I know your Hubs is in real estate, you know, Dave's in real estate, and you start thinking about where we're going in 2025. New year, what's going to happen?
The Ramsey Show
If You Want to Build Wealth, Stop Acting Like Everyone Else
I don't think it's great. It's certainly not great. And I think there's some problems.
The Ramsey Show
If You Want to Build Wealth, Stop Acting Like Everyone Else
What's the Fed going to do? How does that affect this?
The Ramsey Show
If You Want to Build Wealth, Stop Acting Like Everyone Else
And, you know, it can be really crazy. If you look at the 15-year fixed mortgage rate, for example, it's fluctuated between 5% and 7% for the past few years. And most experts are predicting this is going to continue for most of 2025. I'm seeing that as well. People kind of think, well, we're going to kind of be in a holding pattern.
The Ramsey Show
If You Want to Build Wealth, Stop Acting Like Everyone Else
And so while today's rates might feel high compared to what some of us have seen in our lifetime, I've seen much higher, and obviously we've seen much lower. But historically, 7.5% is a historical average. So we don't want you to be sitting there trying to time the market if you're financially ready. And you can afford the monthly payments. Now is a great time to buy your home.
The Ramsey Show
If You Want to Build Wealth, Stop Acting Like Everyone Else
And so to learn more about the trends and get real help as we walk you through what to do as you're thinking about buying or selling, go to RamseySolutions.com slash market. That's RamseySolutions.com.
The Ramsey Show
If You Want to Build Wealth, Stop Acting Like Everyone Else
I mean, might be a long time.
The Ramsey Show
If You Want to Build Wealth, Stop Acting Like Everyone Else
But I can hear people right now that want to make sure we address their concern.
The Ramsey Show
If You Want to Build Wealth, Stop Acting Like Everyone Else
Trump pump. In the first couple of years. We might see kind of an interesting, chilled out, little easy roller coaster this year. Little up, little down. But I think it's going to be very interesting to see in year two and three of his administration.
The Ramsey Show
If You Want to Build Wealth, Stop Acting Like Everyone Else
What will consumer confidence look like? I don't have a crystal ball, but I just have a feeling.
The Ramsey Show
If You Want to Build Wealth, Stop Acting Like Everyone Else
Well, what happens with regulation? What happens with tariffs? You know, what happens when you start to see more supply come on the market? Will builders, you know, will there be more lower income? And I don't mean that, I'm sorry, not lower income housing, but will we see housing starts come in at a much more affordable rate?
The Ramsey Show
If You Want to Build Wealth, Stop Acting Like Everyone Else
All of these things are affected by sometimes macro policies that do, in fact, come out of the White House. So it's going to be interesting to see.
The Ramsey Show
If You Want to Build Wealth, Stop Acting Like Everyone Else
So hang on. But the point is, if you're ready, jump in now, and we're here to walk you through it. Kevin is up in Riverside, California. Kevin, how can we help? Hello? Hey, Kevin, you're live on The Ramsey Show with Ken and Rachel. What's going on?
The Ramsey Show
If You Want to Build Wealth, Stop Acting Like Everyone Else
Can you break that down for us real quick? How much is the mortgage debt?
The Ramsey Show
If You Want to Build Wealth, Stop Acting Like Everyone Else
And now break down the rest of the debt for us.
The Ramsey Show
If You Want to Build Wealth, Stop Acting Like Everyone Else
But I think they can get there. The reasons why, I think they can plan for it either way. You know what's fun? People call us like this. They want to know what we think. But you know what? We want to know what our audience thinks. We have a new audience coming in all the time, growing audience. And it's really important if we're going to serve you that we hear from you.
The Ramsey Show
If You Want to Build Wealth, Stop Acting Like Everyone Else
And so how much debt? So that makes up the whole $655,000 if I'm doing quick math. Am I right? I'm sorry, I'm trying to move us along, Kevin. How much debt does your wife have?
The Ramsey Show
If You Want to Build Wealth, Stop Acting Like Everyone Else
And you guys have separate finances, it sounds like.
The Ramsey Show
If You Want to Build Wealth, Stop Acting Like Everyone Else
Okay, so what's the real need? We know what the problem is. What can we help you with today?
The Ramsey Show
If You Want to Build Wealth, Stop Acting Like Everyone Else
So our listener survey, it's an annual thing we do. We need to hear from you. We really do serve you well. We want to hear from you. So tell us what you like, what you don't like, the whole nine yards. Be nice to Rachel. You can be mean to me. It's okay.
The Ramsey Show
If You Want to Build Wealth, Stop Acting Like Everyone Else
All right. I'm jumping in because we got about two minutes with you or less. You're not being selfish. In fact, I would say you're being selfish if you're not working 80 hours a week. And is your wife collecting a salary? You said we both work for the family. Is she getting paid to be at home?
The Ramsey Show
If You Want to Build Wealth, Stop Acting Like Everyone Else
So great. So you need to be working like crazy.
The Ramsey Show
If You Want to Build Wealth, Stop Acting Like Everyone Else
Well, but again, if you can get out, even if it's a break-even, she's right. You saved yourself $3,700 a month, which you need.
The Ramsey Show
If You Want to Build Wealth, Stop Acting Like Everyone Else
Uh, text the word survey to three, three, seven, eight, nine, text the word survey to three, three, seven, eight, nine, or go to Ramsey solutions.com slash survey. And you can click on the link in the show notes on your podcast app or YouTube. And here's the deal. If you sign up today to tell us what you think you're entered to win a $500 gift card. So there's a little bonus of motivation.
The Ramsey Show
If You Want to Build Wealth, Stop Acting Like Everyone Else
All right. We want to hear from you, America quick break. And then you hear more of us. This is the Ramsey show.
The Ramsey Show
If You Want to Build Wealth, Stop Acting Like Everyone Else
Welcome back to The Ramsey Show. I'm Ken Coleman, and Rachel Cruz is joining me. We're here for you, America. You got a question about your money? You got a question about your income? That's what you got today. You got two people who love to weigh in on that, and we work together to help you. So, 888-825-5225. That's the number. Let's go to River. Now, see, that's a great name.
The Ramsey Show
If You Want to Build Wealth, Stop Acting Like Everyone Else
If my name was River Coleman, I'd be far more credible. You know what I mean?
The Ramsey Show
If You Want to Build Wealth, Stop Acting Like Everyone Else
I have a lot more Instagram followers as well. But alas, my name is Ken, but I'm already jealous. River in Columbus, Ohio. River, I'm jealous, but happy to talk to you. How can we help?
The Ramsey Show
If You Want to Build Wealth, Stop Acting Like Everyone Else
Just the student loans and the truck?
The Ramsey Show
If You Want to Build Wealth, Stop Acting Like Everyone Else
Okay. What do you want to do? What are you aiming for?
The Ramsey Show
If You Want to Build Wealth, Stop Acting Like Everyone Else
And the reason I ask the question, I'm not trying to solve that problem right now, but I am trying to figure out what can we do to get more income? Because that's a part of this equation.
The Ramsey Show
If You Want to Build Wealth, Stop Acting Like Everyone Else
You're very limited right now. And that's a part of this equation.
The Ramsey Show
If You Want to Build Wealth, Stop Acting Like Everyone Else
Okay, so help Rachel out. She'll walk you through this, but I know you guys are engaged. What is your debt? What is yours? Is yours $155 or is that both of you? That's together. Well, but you guys aren't together. And so just to help Rachel separate what your debt is versus the fiancé's debt.
The Ramsey Show
If You Want to Build Wealth, Stop Acting Like Everyone Else
Okay, I got that part. I misunderstood. Okay, got it. Never mind. All right. So we got the breakdown.
The Ramsey Show
If You Want to Build Wealth, Stop Acting Like Everyone Else
Sounds like you've tried, and they're not interested. So I'm not sure that there's some unique strategy we're sitting on top of, because it sounds like they're like, look, you're fine. We'll let you know when we're gone. Sounds like to me.
The Ramsey Show
If You Want to Build Wealth, Stop Acting Like Everyone Else
Midday. She's midday. She's 9 to 6. There's no money in that industry at this point.
The Ramsey Show
If You Want to Build Wealth, Stop Acting Like Everyone Else
With very limited opportunity.
The Ramsey Show
If You Want to Build Wealth, Stop Acting Like Everyone Else
So, River, is she one, and by the way, do I understand this and support this? Yes. Is she one that goes, I want to take my shot and I want to go to New York, LA, I want to be in a top 10 market one day. Is that her thing? Is she really ambitious for that? Is that a clear goal?
The Ramsey Show
If You Want to Build Wealth, Stop Acting Like Everyone Else
Okay, then. So here's my point. So if I were coaching her one-on-one, I'd say, all right, so you do have to stay in the game. However, you are going to have to work other jobs, do some freelance publicity, do something when you're not on set to increase her income. She's got to at least look for a 25% to 40% bump through some type of industry-adjacent work in this season.
The Ramsey Show
If You Want to Build Wealth, Stop Acting Like Everyone Else
I wouldn't recommend she drop out if her goal is to move up in market. Which, by the way, that's how you make more money is you go from Columbus to San Diego, San Diego to Miami.
The Ramsey Show
If You Want to Build Wealth, Stop Acting Like Everyone Else
That is a hang on and be really, really good at your job.
The Ramsey Show
Money Stress Isn’t Always About Money
What's up? All right. I guess my question would be that here in Detroit, we have a pretty good income, one income household, family, three kids, married, and it just seems like living paycheck to paycheck, can't seem to get ahead financially. It just kind of almost feel like we're struggling here.
The Ramsey Show
Money Stress Isn’t Always About Money
We're at about 275 to 300 K a year with my income. Okay.
The Ramsey Show
Money Stress Isn’t Always About Money
Yeah, I'm pretty, I, I try to stay up on the numbers and I, and we got a lot of debt. We got a lot of student debt. Um, I went back to school for anesthesia, so I'm a nurse. Okay. So I'm sitting on probably, I'm at right about 181,000 in student loan debt still. Okay. What other debt is there? So we got that. We owe $200,000 on the house, $203,000 on the house.
The Ramsey Show
Money Stress Isn’t Always About Money
We at one point took out a 401k loan, which we still owe $45,000 on. Okay. I have a HELOC loan, which another $17,000 on that. Okay. And about $20,000 in credit cards. Okay. What about cars? Cars. Cars, we have two leases. They were both three-year leases. One we still owe $13,000 on, and the other one we owe $10,000.
The Ramsey Show
Money Stress Isn’t Always About Money
One of the payments is $415 a month, and the other one's about $460.
The Ramsey Show
Money Stress Isn’t Always About Money
Yeah, I mean, and it depends, too, because I can, I mean, that's with a little bit of overtime, but it's consistent.
The Ramsey Show
It’s Time To Cut Debt out of Your Life!
That's not the title anyone is going to ask the hell I want to die on, but I appreciate that. That's a nice title for somebody as nerdy as you are. You have a segment called Talk Nerdy to Me. That's true. And all of a sudden you're too cool for ambassador of amortization? You're right. All right. So 500 bucks in gross pay. It's 500 bucks. So George, I say I would not counter.
The Ramsey Show
It’s Time To Cut Debt out of Your Life!
And Ella, I love your confidence, but again, you got to understand the risk. of why I think that's not so wise. It's one thing if you say, I've got the engineering degree, and you cite that in your counter. You go, would you be willing to get me to 90? Here's why. I've done the market research, and now you've got some proof. All you have to stand on is, I'm a year out.
The Ramsey Show
It’s Time To Cut Debt out of Your Life!
And I just, you don't want to counter when you don't have a good case. And in this situation, George, I don't think she has a good case. What do you think?
The Ramsey Show
It’s Time To Cut Debt out of Your Life!
I like that, George. But I like that, George. But I would only add to that, I think I like that a lot, actually, George. But I would add in there, is there a path for growth to that? Because I'm a year out from having the engineering degree. Would that then put me in line to get me up to 90? Just getting clarity for what it would take.
The Ramsey Show
It’s Time To Cut Debt out of Your Life!
That's a very different posture because you're asking a very thoughtful question you're not countering. So I actually am going to go, I'm going to yes and myself and say that I like how George came in there. I think that's the tactic. Because it at least opens the conversation. They realize they know where your head is at. You've done the market research. It's valid.
The Ramsey Show
It’s Time To Cut Debt out of Your Life!
I think that's a really good setup. Congratulations. Thanks so much. Yeah, let's celebrate that. You got to be celebrating the big bump.
The Ramsey Show
It’s Time To Cut Debt out of Your Life!
All right. Really proud of you. That's super exciting stuff. Don't spend it all, George. Lifestyle creep is real. There it is. You got George sitting on your shoulder. I'm watching.
The Ramsey Show
It’s Time To Cut Debt out of Your Life!
All right. Coming up, we've got a little break. And during the break, George and I are going to talk about his favorite gluten-free treats. That could take a while. And then we'll be back. This is The Ramsey Show. We'll be right back.
The Ramsey Show
It’s Time To Cut Debt out of Your Life!
Welcome back to The Ramsey Show. I'm Ken Coleman. George Camel is alongside. And, you know, it's amazing when you think about this show and the footprint it has around the world and here in the United States. Over 30 years, the show has been going and it started on a card table. Before there was a show, there was a business idea that Dave Ramsey had in he and Sharon's living room.
The Ramsey Show
It’s Time To Cut Debt out of Your Life!
And now it is a business north of $250 million and, as we've said, decades of worldwide influence. And so this is really fun because Dave has not written a book in a while, but his new book is now available to pre-order. It's called Build a Business You Love, where he unpacks how this business actually got started and has grown to where it is today.
The Ramsey Show
It’s Time To Cut Debt out of Your Life!
The way he talks about it is it's the baby steps for running a business. And so this is a fabulous book and a real great fit for so many of you who want to work for yourself or you're already running a business. You can pre-order it now for only $29.99. And when you pre-order, you get over $350 in free bonus items.
The Ramsey Show
It’s Time To Cut Debt out of Your Life!
including the Entree Leadership Hiring Playbook and the e-book and the audio book, which is enhanced. So pre-order today. It's only $29.99. You pre-order it at ramsaysolutions.com slash store, ramsaysolutions.com slash store. Or if you're watching on YouTube or listening via podcast, click the link in the show notes, and you can pre-order that book.
The Ramsey Show
It’s Time To Cut Debt out of Your Life!
Really looking forward to how this is really going to change the game for so many people. Build a Business You Love by Dave Ramsey. All right, Jeff is up in Atlanta, Georgia. Jeff, how can we help today?
The Ramsey Show
It’s Time To Cut Debt out of Your Life!
Okay, I have questions. Okay. What is the, and I don't want to, I want to be very sensitive in how I ask this question. What is the spiritual or religious, actually it's not spiritual, I'm going to call it, what is the religious reason that you cannot invest in the S&P 500?
The Ramsey Show
It’s Time To Cut Debt out of Your Life!
Totally caught up now. Okay, because I had not heard that before, but I get it. So tell us what you're thinking. I want George to be able to hear this. What would be your diversified stock strategy?
The Ramsey Show
It’s Time To Cut Debt out of Your Life!
Yes. Let's get that out of the way. Now, George is going to tell you how. He's going to show you the specifics, but let's start there. Because if you don't believe it, Christina, you're not going to receive it. You feel me? Oh, that was good.
The Ramsey Show
It’s Time To Cut Debt out of Your Life!
Put that on a stitch pillow or something. There it is. I'm already in the Hallmark category, and we've only been on the show three minutes. This is unbelievable. I should probably quit while I'm ahead. George, explain it now. She believes it.
The Ramsey Show
It’s Time To Cut Debt out of Your Life!
yeah to follow your religious beliefs jeff i've been listening in here george i think has given you terrific advice here and you keep pushing back you keep you know and it's like look if you want to take that on george think that that's a lot and and i would assume because it's so much it also has a lot of risk involved with it that's what i'm hearing from you so my pushback on this to you jeff is um
The Ramsey Show
It’s Time To Cut Debt out of Your Life!
You can't have your cake and eat it too is an old phrase, and I think it applies here. You know, I really respect anybody that lives their life on a set of religious beliefs, and what that really is is about conviction. But in order to live a life of conviction, there will have to be sacrifice. There is no, I don't care what religion it is.
The Ramsey Show
It’s Time To Cut Debt out of Your Life!
You could take the entire world's religion, and all of it requires sacrifice to follow it. So you're already violating your religious beliefs and your 401k. Those are your words, not ours. So as I listen to this, listen to George, I mean, I think I would take those other funds. What'd you call it?
The Ramsey Show
It’s Time To Cut Debt out of Your Life!
I think that's the sacrifice you have to make.
The Ramsey Show
It’s Time To Cut Debt out of Your Life!
And so that's just my take, Jeff, because I'm actually honoring what you're saying. And I think you've got to follow that fully or not at all. I don't think there's a midway there. This is The Ramsey Show.
The Ramsey Show
It’s Time To Cut Debt out of Your Life!
Welcome back to The Ramsey Show. Alongside George Camel, I'm Ken Coleman. So excited to have you with us. Great studio audience today. It's packed. On this Friday. I got to tell you, if you ever want to get to the Nashville area, we're in a suburb, Franklin, Tennessee, you can come watch the show. Three hours. And we've got this just beautiful, beautiful studio.
The Ramsey Show
It’s Time To Cut Debt out of Your Life!
Free coffee, cold beverages, baked goods. I mean, it's just fantastic. And we love meeting folks. So great studio audience today. Big thanks to them. All right. It's time for our question of the day here on The Ramsey Show. It's brought to you by YRefi with YRefi. You can take control of your defaulted private student loans with a plan that works with your monthly budget.
The Ramsey Show
It’s Time To Cut Debt out of Your Life!
Visit yrefi.com slash Ramsey. That's the letter Y-R-E-F-Y dot com slash Ramsey. It may not be available in all states.
The Ramsey Show
It’s Time To Cut Debt out of Your Life!
I have never felt so VIP in my life. Folks, I just looked inside George's every dollar.
The Ramsey Show
It’s Time To Cut Debt out of Your Life!
What's that? Did I see? Is that gifts for Ken? Did I see that?
The Ramsey Show
It’s Time To Cut Debt out of Your Life!
Now you're speaking my love language. Pickleball equipment. I'm in. There you go. All right. Very good question, by the way.
The Ramsey Show
It’s Time To Cut Debt out of Your Life!
Oh, look at that. Good timing, guys. So George is actually showing the article right there. I like a little show and tell. I'm telling you, I'm trying to make you the John King of the Ramsey Show. It's a crusade for me now.
The Ramsey Show
It’s Time To Cut Debt out of Your Life!
I think you've got the gift. I do. All right. Good question there. Really fun. By the way, I want to make a quick mention. Anytime we mention any resource, article, a product, anything on the show, it is always linked in the show notes. So you can come back to it. That's a huge thing for me. Treasure trove.
The Ramsey Show
It’s Time To Cut Debt out of Your Life!
Wow. I love that. That feels very Friday to me. We're talking gateway drugs to financial freedom. Hello. All right. Jennifer's up next in Buffalo. Jennifer, how can we help?
The Ramsey Show
It’s Time To Cut Debt out of Your Life!
This is your moment. You got George right here, George. Oh, boy. What are you going to say, George? Well, I got to wait.
The Ramsey Show
It’s Time To Cut Debt out of Your Life!
$260,000. Oh, yeah. Oh, listen, I got to tell you something, Jennifer. Several people in our live studio audience were a little put out by that information.
The Ramsey Show
It’s Time To Cut Debt out of Your Life!
There we go. Will that do? Christina. I feel like she just won a game show. There it is on the screen for those of you watching on YouTube.
The Ramsey Show
It’s Time To Cut Debt out of Your Life!
I've never seen him this angry, Jennifer. I am livid. I'm not kidding you. That's about as high test as George gets, all right? The guy is just very chill. He's very angry. I could punch a hole in some soft drywall right now. You know what? You're starting to worry me. I feel like I'm pouring fuel on the flame here. Relax a little bit. All right. I apologize. All right.
The Ramsey Show
It’s Time To Cut Debt out of Your Life!
You bet. Well, great hour. George, I got to say, you were on fire. The nitro cold brew hit at just the right moment. Is that what it is? I think so. Okay. Do you have any kind of prescription anxiety meds that you take? Just nitro cold brew. That's all I need. Let's get another cold brew in here. Somebody. I don't feel safe. This is The Ramsey Show.
The Ramsey Show
It’s Time To Cut Debt out of Your Life!
This is The Ramsey Show, where America hangs out to have a conversation about your money, your work, and your relationships. I'm Ken Coleman. George Campbell is with me. The phone number to jump in is 888-825-5225. 888-825-5225. 2-2-5. George, you ready to go? Another hour? You got your V8, your cold brew? How'd you know? I mixed them together. It's quite a concoction.
The Ramsey Show
It’s Time To Cut Debt out of Your Life!
What it means is great financial advice, I got to tell you that, from the best beard in all of financial shows.
The Ramsey Show
It’s Time To Cut Debt out of Your Life!
Robert's going to start us off this hour in Auburn. Robert, how can we help?
The Ramsey Show
It’s Time To Cut Debt out of Your Life!
Hold on, Robert. Speak clearly into your phone. We're having a hard time hearing you, like maybe you're muffled. Let's try a different angle.
The Ramsey Show
It’s Time To Cut Debt out of Your Life!
That's a little bit better. So you woke up this morning and you look outside and the car is not there. Yes. Was this a shock to you? Was this shocking, or did you expect this?
The Ramsey Show
It’s Time To Cut Debt out of Your Life!
This is the Ramsey Show, where America hangs out to have a conversation about their money, their work, and their relationships. The phone number to jump in is 888-825-5225. Alongside the incomparable, the always Natalie attired, George Camel. I'm Ken Coleman, and it's going to be a fun show today.
The Ramsey Show
It’s Time To Cut Debt out of Your Life!
How much do you make in a week? What's doable look like? How are we going to come up with that? Can you share that? I'd like to know.
The Ramsey Show
It’s Time To Cut Debt out of Your Life!
And I'm talking, I'm calling family members, cousins, uncles. You got some patio furniture you want to get rid of? I'll sell it. I'd be flipping stuff. I can't hear you at all, Robert. You sound like you're inside of a roll of toilet paper to me. It's what it sounds like. No, my fiance won't let me sell the furniture. Uh-oh, there's a fiance involved.
The Ramsey Show
It’s Time To Cut Debt out of Your Life!
Is she broke, too? Not as much as me, not right now. I don't mean this in the way it's going to sound, but we've got to forget about her for a moment and what she owns. We're talking about what you own and what you can sell because you've got to come up with more than $2,500 because the $500 you got isn't going to stretch very far for what else is going on in your life. I've got a feeling.
The Ramsey Show
It’s Time To Cut Debt out of Your Life!
Don't do it. Lady on the front row is like, what did he say? We should have avoided this debt. I get it.
The Ramsey Show
It’s Time To Cut Debt out of Your Life!
four thousand dollars there you go oh boy therein lies the problem i see what i see what you're saying you're just trying yeah you're still going to be stuck with this debt but again right even if we play this out with your logic and your question you still don't have any cash if you buy a car for five hundred dollars that's like fred flintstone's car all right you know what i'm saying like that's not a car you're better off getting a bicycle right how are you getting to and from work
The Ramsey Show
It’s Time To Cut Debt out of Your Life!
Well, there's your next thing. You got four days off? You don't have a spring break. You need to be working today.
The Ramsey Show
It’s Time To Cut Debt out of Your Life!
I mean, you need cash. You don't need to be breaking.
The Ramsey Show
It’s Time To Cut Debt out of Your Life!
It's a Hail Mary. You got to work like crazy. And we told you that for two minutes and you hit us with, I'm on a four-day spring break. No, bro, you got to change your whole intensity right now. You are working like crazy. You are selling everything. I'm not kidding when I'd call Uncle Larry and go, Uncle Larry, you got any patio furniture you don't want?
The Ramsey Show
It’s Time To Cut Debt out of Your Life!
I might sell her engagement ring to get out of this, to be honest.
The Ramsey Show
It’s Time To Cut Debt out of Your Life!
So, Christina, we're going to flip the question on you. Are you ready to answer it?
The Ramsey Show
It’s Time To Cut Debt out of Your Life!
And if she loved me, she'd go, all right, this is what we got to do. Oh, boy. He's got no car. And if you keep this up, George, he's going to have no fiance. This is The Ramsey Show.
The Ramsey Show
It’s Time To Cut Debt out of Your Life!
Okay. Christina, is it too late for you and your husband to retire with dignity and lots of freedom?
The Ramsey Show
It’s Time To Cut Debt out of Your Life!
Welcome back to the Ramsey Show. I'm Ken Coleman. George Campbell is with me. The phone number for you, America, is 888-825-5225. 888-825-5225. So, you know, we always tell you, call that number. And we're going to get to one of these in a second here. We've got a sorry we missed your call where people can leave a voicemail.
The Ramsey Show
It’s Time To Cut Debt out of Your Life!
So I want you to know that if you call sometime and you can't get through and you leave a voicemail, we like to take some of those calls. But first, it is tax time, George. And got my meeting coming up. And I'm all set. Love my tax pro. Feeling good about it? Yeah, because I cannot be trusted. I would agree. I cannot be trusted even with... You're not a man of minutia.
The Ramsey Show
It’s Time To Cut Debt out of Your Life!
Now, you and a lot of our listeners can be trusted with Ramsey's SmartTax. This is 100% accurate tax software that saves you up to 80% compared to other popular softwares. It's powered by TaxSlayer. So, I mean, it's a big time... It's legit. Yeah, big time. They've been around for 50 years. Yeah, and they've been there forever. But I just got to be honest, it's not for me.
The Ramsey Show
It’s Time To Cut Debt out of Your Life!
Because I've got to have a tax pro. So you've got these options, but for those who like to save even more and they just know you've got a world-class software. Yeah, if you've got a simple situation.
The Ramsey Show
It’s Time To Cut Debt out of Your Life!
If I chose, this is built for me. RamseySolutions.com slash SmartTax. RamseySolutions.com slash SmartTax. Okay, let's get to, this is really fun. Sorry we missed your call.
The Ramsey Show
It’s Time To Cut Debt out of Your Life!
All right. Thank you, Chris. I appreciate that.
The Ramsey Show
It’s Time To Cut Debt out of Your Life!
The money is coming out. And going into the 401k account before you've taken the taxes. Exactly. So that's why that is a benefit and that's how that works.
The Ramsey Show
It’s Time To Cut Debt out of Your Life!
That's it. So now this was the win that you needed in your sales.
The Ramsey Show
It’s Time To Cut Debt out of Your Life!
Yeah, I love that. Appreciate it. That's a little bonus talk nerdy to me, I feel like. It is. But let's be honest, you're only a quick pivot in any call from Talking Nerdy. You're true. I can make it. I could just pivot at any moment. I mean, that's your nickname, George Talk Nerdy Timmy Camel. Amortization King. No, Ambassador of Amortization. Thank you.
The Ramsey Show
It’s Time To Cut Debt out of Your Life!
You've got to have the alliteration going on. Assistant to the regional manager. That's right. Exactly right.
The Ramsey Show
It’s Time To Cut Debt out of Your Life!
Here's your phrase, okay? Here's your phrase for today and the rest of this weekend. I want you to just say it to yourself or say it out loud if you don't mind being cheesy like me. You ready? Okay, yes. There is no shame in my game. Say it. There's no shame in my game. There it is, George. Fantastic. By the way, James, I got to point out, I want to brag on my colleague here for a second.
The Ramsey Show
It’s Time To Cut Debt out of Your Life!
Welcome back to the Ramsey Show alongside George Camel. I am Ken Coleman. The phone number to jump in is 888-825-5225. And I'm told that Kristen is on the line in Erie, Pennsylvania, and she's a Baby Steps millionaire caller. We love these. Kristen, how are you today?
The Ramsey Show
It’s Time To Cut Debt out of Your Life!
Loud and clear. Do I have the facts straight? Are you a Baby Steps millionaire? All right, tell us, what's your net worth?
The Ramsey Show
It’s Time To Cut Debt out of Your Life!
Nice. And can I ask you how old you are? It's not polite to ask a lady how old you are, unless it's this kind of format, but I'm still going to ask.
The Ramsey Show
It’s Time To Cut Debt out of Your Life!
Come on. Love it. Love it. So we got a 55-year-old millionaire. Okay, fantastic. Very fun.
The Ramsey Show
It’s Time To Cut Debt out of Your Life!
So it sounds like the next step for you guys might be upgrading in vehicles because, boy, you did not sound excited and I can't blame you. That Sonata gives you bad feelings.
The Ramsey Show
It’s Time To Cut Debt out of Your Life!
I like when you throw the investment calculator on the screen for people that are watching via YouTube.
The Ramsey Show
It’s Time To Cut Debt out of Your Life!
uh i think you could be the john king of the ramsey show wow that's high praise i want to get you out of that chair james i want to see can we get him on a board oh yes where he's like he's like now let's go over here i'd like to say i think you could do let's see what's going on in this county over here if we zoom in you're yeah
The Ramsey Show
It’s Time To Cut Debt out of Your Life!
Yes. Oh, I like that. Because we... It's like the twisted tea. You did some things out of order? Yeah. Yes. Yeah. We'll forgive you. It's not your best beverage. Well, way to go. You guys are impressive. Interesting. Really, really fun. I love the story here. Really love the story. All right. Can it be done? That's the question.
The Ramsey Show
It’s Time To Cut Debt out of Your Life!
Some young people out there, young Christians listening in, why can it still be done?
The Ramsey Show
It’s Time To Cut Debt out of Your Life!
And I'm talking about, for people to know what I'm talking about, real quick reference, that's John King on CNN. He really made the election night screen where he goes in, the touch screen, and he goes in and he goes back and forth. And now every network has their own John King, but I think he's the OG. And it's not a political statement for those of you that hate the network that he's on.
The Ramsey Show
It’s Time To Cut Debt out of Your Life!
Way to go, Kristen. Really thank you for sharing your story with us. I'll tell you what she just said there at the end would make TikTok melt. You know what I mean? Because I see so much of these young people just literally freaking out because six figures isn't enough to live on. And so if I can't live on that, no one can live on it, then woe is me, the sky is falling.
The Ramsey Show
It’s Time To Cut Debt out of Your Life!
And here she is saying, you don't even need to make six figures. So that's a very counter social media message, but it happens to be the truth.
The Ramsey Show
It’s Time To Cut Debt out of Your Life!
I hope so. By the way, I got to come back to something you said. You dropped a dime on us and it bears repeating. I think you said run your own race, build wealth at your pace. Oh, I don't know. You might have dropped a bar. I think the kids say you do inspire me just by proximity principle.
The Ramsey Show
It’s Time To Cut Debt out of Your Life!
That's all I'm going to say. Good stuff. Quick break. We'll be right back. This is The Ramsey Show.
The Ramsey Show
It’s Time To Cut Debt out of Your Life!
You've got to qualify everything these days. I know, I know. But he's good on that big board, isn't he? No, that's true. I want to see, we've got to figure out how to do that.
The Ramsey Show
It’s Time To Cut Debt out of Your Life!
Welcome back to The Ramsey Show. So glad you are with us. I'm Ken Coleman. George Campbell joins me. 888-825-5225 is the phone number. Hey, are you staying on track with the Baby Steps? If you want to know, take a quick quiz to check your progress and receive a personalized plan just for you.
The Ramsey Show
It’s Time To Cut Debt out of Your Life!
All you got to do is head to the show notes, click on the link titled, Are You On Track With The Baby Steps? And you can complete the quiz. That's a great little prompt and helper for you. All right, back to the phones we go. George is in Cincinnati, Ohio. George, how can we help? Hey, how are you guys? Good. What's going on today?
The Ramsey Show
It’s Time To Cut Debt out of Your Life!
Okay, so we can call it $210,000 combined income soon enough. And does she have any debt?
The Ramsey Show
It’s Time To Cut Debt out of Your Life!
All right, let's do a quick – because a lot of people are watching and listening right now that absolutely – They resonate with Christine and her husband. So I want to go back to the start of that call. And I want you to break down the psychology there of what really happened in those few minutes with her.
The Ramsey Show
It’s Time To Cut Debt out of Your Life!
And what are you projected to make after residency?
The Ramsey Show
It’s Time To Cut Debt out of Your Life!
All right, imagine that timeline, George's timeline that he just gave you, and then you come into making $400. Geez. I mean, how does that feel? Yeah. How does it feel? Think about that for a second.
The Ramsey Show
It’s Time To Cut Debt out of Your Life!
You're trying to lower the monthly payment. I get it. But my point is George just gave you a two-year plan.
The Ramsey Show
It’s Time To Cut Debt out of Your Life!
Yeah, I love it. I think that's great. Let's see if we can get Alexander in here in Colorado Springs. Alexander, how can we help?
The Ramsey Show
It’s Time To Cut Debt out of Your Life!
Okay, all right, all right. That was good. You pulled that one out. It was a little melancholy, and then you gave me some positivity at the end and rescued that. That was great. What's your question? We've got about three minutes. What's your question?
The Ramsey Show
It’s Time To Cut Debt out of Your Life!
All right. Well, let's stop talking about it. What's B?
The Ramsey Show
It’s Time To Cut Debt out of Your Life!
So you've got an opportunity on the table and offer to get back into that.
The Ramsey Show
It’s Time To Cut Debt out of Your Life!
What are you going to make or what can you make in that role?
The Ramsey Show
It’s Time To Cut Debt out of Your Life!
Okay, but what are you doing the rest of the eight months of the year?
The Ramsey Show
It’s Time To Cut Debt out of Your Life!
Well, I think this is pretty straightforward, George. Alexander, you give us two options. You don't even like option A, so I automatically usually lean with the person because there's good reasons. You don't like the job. It doesn't seem like it's going to pay as much as option B, the pest control. Is that true as well?
The Ramsey Show
It’s Time To Cut Debt out of Your Life!
I'm going to take option B. Let's go option B. I feel great about that.
The Ramsey Show
It’s Time To Cut Debt out of Your Life!
It sounded like she won the prices right. She literally, yes, it was a high-pitched reaction, which was really guttural in the sense of, what? I mean, it was almost one of those deals.
The Ramsey Show
It’s Time To Cut Debt out of Your Life!
Find the work you're wired to do. It's got an assessment in it. I want you to take the assessment and then read the book. It's only a 45-minute read. It tells you what to do with your assessments because you need to be figuring out in the short term what to do in those other eight months. I like what you threw out there. When I hear someone say, I want to build my team – I like that.
The Ramsey Show
It’s Time To Cut Debt out of Your Life!
I like the sound of that, if that means mo money for you. But let's also be thinking, anybody who likes going door-to-door, selling pest control services, my man, you're a freak, and I mean that in a good way. Because that is somebody who can handle rejection, George, and that person is unstoppable.
The Ramsey Show
It’s Time To Cut Debt out of Your Life!
So I've got to say, Alexander, you figure out what you really want to be selling, a product or a service that you can get fired up about, and, my man, you're going to be very wealthy with that ability to handle rejection like you can. I mean, you're something else. So get after it, young man. Get after it. I love it. All right, George Campbell, great hour. Always fun to be with you.
The Ramsey Show
It’s Time To Cut Debt out of Your Life!
I want to thank James Childs, our fearless leader, and our hearty crew of men behind the glass that keep us on the air. Thank you, America. This is The Ramsey Show.
The Ramsey Show
It’s Time To Cut Debt out of Your Life!
Nice reference on the Broyhill dinette set. It lives rent-free in my head. But the reality is I don't think people realize how quickly and how effectively compound interest works, and you just demonstrated it.
The Ramsey Show
It’s Time To Cut Debt out of Your Life!
And I can tell you, the audience out in the studio, I can just tell these people got the juice, George. They're excited to be here.
The Ramsey Show
It’s Time To Cut Debt out of Your Life!
Oh, I love it. Great way to start the show today. Okay, we've got to take a quick break. During the break, George and I will talk about our favorite dinette sets, and then we'll be back to take more of your calls.
The Ramsey Show
It’s Time To Cut Debt out of Your Life!
It's a live wire out there. And a particularly good-looking group, if I might observe. And we've been called by many people the root beer float of the Ramsey Show. George thinks he's the root beer. I'll stay with the vanilla ice cream. That's fine. I'm lucky to be a vessel. I'm just happy to be in the discussion. I'd be the paper straw in that root beer float if I could be.
The Ramsey Show
It’s Time To Cut Debt out of Your Life!
Thrilled to have you with us. I'm Ken Coleman. My pal George Camel is with me today. It's the law firm of Coleman & Camel. You've seen us on bus stop benches. That's exactly right. It's 888-825-5225 is the phone number. Kyle is up next in Kansas City, Missouri. Kyle, how can we help today?
The Ramsey Show
It’s Time To Cut Debt out of Your Life!
Well, the honor is ours, sir. What's happening?
The Ramsey Show
It’s Time To Cut Debt out of Your Life!
All right. Well, this is great. You couldn't come to a better place. I'm going to warn you. When you cut up your credit card with scissors, there is an automatic beacon that is sent to the credit card companies, and a very burly gentleman with large shoulders will call you. He will speak to you in very unfriendly tones. He will threaten you. And it's a thing.
The Ramsey Show
It’s Time To Cut Debt out of Your Life!
So you've got to be willing to deal with that. But if you're willing to deal with that, then it's fine. Okay. Kyle, I'm joking. Kyle, I tried really hard to be sarcastic. Did you catch that at all? Did it miss the mark?
The Ramsey Show
It’s Time To Cut Debt out of Your Life!
I was kind of trying. No, so here's the deal. In all seriousness, nothing's going to happen. In fact, the only thing that will happen is that you will feel completely free now because there's something about cutting credit cards. And I don't know if you know this, but for years, Dave would have people cut their credit cards on the air. People would send Dave artwork.
The Ramsey Show
It’s Time To Cut Debt out of Your Life!
In this building to this day, we have artwork of framed credit cards. In fact, we just took a picture with a guy who had a credit card cut up in multiple pieces during the last commercial break and framed it.
The Ramsey Show
It’s Time To Cut Debt out of Your Life!
No, no balance. And you're not going to need it. Tell him why he's never going to need it.
The Ramsey Show
It’s Time To Cut Debt out of Your Life!
They're not even going to know that you cut it either. I think you legitimately are scared. I love your honesty. So here's what we're going to do. We're going to give you the opportunity to cut this card right now on the air. Oh, you have it with you? Do you have some scissors?
The Ramsey Show
It’s Time To Cut Debt out of Your Life!
So we're going to have a good time today. George is going to help you with budgeting the money, saving the money, getting out of debt, investing money, and I want to help you making more money. That's my play here at the Ramsey Show. So we do that together, and we have a lot of fun. You ready to go, friend? I'm pumped. All right, let's get to this.
The Ramsey Show
It’s Time To Cut Debt out of Your Life!
I've got to say, America wants to hear that. If you can rip it with your teeth and get the cell phone right up to the mouth. Do you have an emergency fund to cover the dental bill after that one?
The Ramsey Show
It’s Time To Cut Debt out of Your Life!
You can do something fun with it. You can shoot it with a gun. We've had people do that. We've had people, I think somebody put it once in a wood chipper. Oh, that was fun. I do remember that. There you go. Very Fargo. But you need to have fun with this because the credit card company is not going to know. They're not going to know. There's no impulse that's sent. I was joking.
The Ramsey Show
It’s Time To Cut Debt out of Your Life!
It was a horrible joke. What company is it? Can I ask? He really believed that. Did you hear him? He was like, oh, man, I don't want that at all. I have it with Capital One. Oh, perfect. All right. I'll let him know. I'll tell you who gets an email. It's Jennifer Garner, and she's very sweet. She's going to lose it. She's going to be very upset in Hollywood.
The Ramsey Show
It’s Time To Cut Debt out of Your Life!
Somewhere in Hollywood, she's going to get a little email. I love it.
The Ramsey Show
It’s Time To Cut Debt out of Your Life!
Sure. Hold on a second. Will we allow it? I'll allow it. All right. George allows it.
The Ramsey Show
It’s Time To Cut Debt out of Your Life!
Now, you and I are under the gun. We're going to have that big burly guy calling us for what we just told him.
The Ramsey Show
It’s Time To Cut Debt out of Your Life!
We should rat him out. Narc. That's what we'll do. Let's go to Orlando, Florida, the home of the happiest place on earth, apparently. Ella is there. Ella, how can we help?
The Ramsey Show
It’s Time To Cut Debt out of Your Life!
So let me make sure I understood you. You just got a really nice offer. It's an internal transfer, same company.
The Ramsey Show
It’s Time To Cut Debt out of Your Life!
Christina starts us off in San Bernardino, one of my favorite places to say. Not stay, George, but to say San Bernardino. That's a fun, fun place. Let's get to Christina. How can we help today?
The Ramsey Show
It’s Time To Cut Debt out of Your Life!
And it's a really nice bump. How much of a bump for you?
The Ramsey Show
It’s Time To Cut Debt out of Your Life!
And what are you thinking to counter and why?
The Ramsey Show
It’s Time To Cut Debt out of Your Life!
All right, well, there's the piece of information that I needed. I want to see what George says. Because you don't have the engineering degree that these other people have that are at that higher rate, I don't think I would counter here. We're also talking about $6,000, and I've got my ultimate expert of amortization beside me here. You're the ambassador of amortization.
The Ramsey Show
The Key to Financial Success: Slow and Steady
Your pocket's too small for me to fit in. I'm a small man.
The Ramsey Show
The Key to Financial Success: Slow and Steady
That's a good woman. By the way, let me just ask you this. How long have you been familiar with Dave and his teachings and what we do here? Since I was probably 12. All right, I want you to finish a sentence for me, okay? You ready? Sure, sure. Live like no one else so that later you can...
The Ramsey Show
The Key to Financial Success: Slow and Steady
You worked really hard. You worked really hard to get to a point where you can buy a $35,000 Benz. And by the way, your wife has worked really hard, too, and she deserves to go on date night with you in a car that you don't have to pedal like Fred Flintstone. Hey, there he is. Did you hear that laugh? That's the first time on this entire call I felt like we got the real you who wasn't so uptight.
The Ramsey Show
The Key to Financial Success: Slow and Steady
Well, what's so funny about that is that's not far off from what I'm driving outside of the bins.
The Ramsey Show
The Key to Financial Success: Slow and Steady
I know I don't look like this guy. Do I come across really dumb? Because when you tell me you got two cars worth $10,000, those are Fred Flintstone cars. I didn't have to do a lot of deduction, my man. And so she deserves better. She deserves better. If you want to drive a piece of, if you want to drive a turd on wheels, then that's up to you. But she doesn't deserve that.
The Ramsey Show
The Key to Financial Success: Slow and Steady
Can we agree it's Valentine's Day, for heaven's sakes? I agree. I agree with you. Relax. You worked really hard. It is impossible for me, George, to conceive of a scenario where Landon does something dumb with money.
The Ramsey Show
The Key to Financial Success: Slow and Steady
Yes. You sounded like a monster for a second, but now we got you back. Okay.
The Ramsey Show
The Key to Financial Success: Slow and Steady
Speaking of letting go and living life, George, how do you eat a biscuit? What do you put on your biscuit? One bite at a time. Oh, really? Yeah. No butter? No jam? I'll do a little butter. No jam? No honey? It's like a chicken biscuit? What are we talking? I'm asking you. It's your biscuit.
The Ramsey Show
The Key to Financial Success: Slow and Steady
Tell us a little bit more. Someone sold you a house that they were not legally allowed to sell you? What happened?
The Ramsey Show
The Key to Financial Success: Slow and Steady
But he wants to 10X that 30. Jeez. 30 grand to 300 grand in one year? Go to Vegas, my man. I was going to say. Hit the craps table. Good luck. Highly, highly prospective investment. It's a quick turnaround. Yeesh. My question is always with these.
The Ramsey Show
The Key to Financial Success: Slow and Steady
I like it. I think we need a new segment called George Quotes the Bible. I would love that, actually. I think that would be great. I thought you did a good job there. The guy calls, leaves a voicemail, and you drop some proverbs on it. This is my encouragement to you. His name is Travis.
The Ramsey Show
The Key to Financial Success: Slow and Steady
What's your business? Tell us a little bit about it.
The Ramsey Show
The Key to Financial Success: Slow and Steady
Yeah. That's all I needed to hear. I just wanted to know what we were looking at and what the investment would do, and I would not put the business investment in front of saving for the house.
The Ramsey Show
The Key to Financial Success: Slow and Steady
Especially in the hospitality industry. There is immense risk in starting a restaurant. Yeah, let's see how this deal works out. Tell him to be patient. It feels like the call that George, I mean, excuse me, the voicemail we just answered. I think this is a patience deal on the professional side of things. He's got multiple partners. Those at times, that can be tricky.
The Ramsey Show
The Key to Financial Success: Slow and Steady
And he's already got some real money, and I'm guessing some sweat equity involved there. Let's learn. Let's see if that proves to be successful before he chases another rabbit. There's an old phrase, if you chase two rabbits, you lose them both. And I think that would be the advice I would give your hubs there. Let's move forward on a stable plan to get a good house.
The Ramsey Show
The Key to Financial Success: Slow and Steady
George, tell them what we want them to do on that house.
The Ramsey Show
The Key to Financial Success: Slow and Steady
Well, you're working. You're working your tail off. But you're not working in the business with them. You're not in the business. What has his range of income been since getting involved with this partnership and this restaurant? Do you have a couple years of numbers for me, like what he's been making?
The Ramsey Show
The Key to Financial Success: Slow and Steady
What's the high mark, then? What's the highest he's made?
The Ramsey Show
The Key to Financial Success: Slow and Steady
Okay, listen to me. Okay, now I'm going to go older brother, and I may be old enough to be your dad for crying out loud. I would not be in any hurry to get in a house at all. I would be saving. So the advice doesn't change on the baby steps, but I would just be renting until you guys figure out what the future looks like on this. He's not making much money at all.
The Ramsey Show
The Key to Financial Success: Slow and Steady
He should go be a line cook in the kitchen and make more. My goodness, he could make more working at Walmart. I know. So I really don't want you thinking about a house until we see his income get a good bit. I'd like to see him close to double that income and get some stability there, George. Yeah. Because I just don't want you – here's what happens.
The Ramsey Show
The Key to Financial Success: Slow and Steady
You get into a house that you think, okay, this is going to be right, and then something goes wrong, and you guys are out of income for six months, and he's starting from scratch. That is scary business. And making $35,000 gross, it's going to be hard to afford any mortgage with that, let alone rent. Yeah, you guys can't. And it's going to be a long haul on savings.
The Ramsey Show
The Key to Financial Success: Slow and Steady
So go ahead and settle into the long haul. And you all need to figure out a better income situation if this thing doesn't start to turn.
The Ramsey Show
The Key to Financial Success: Slow and Steady
I hate to admit this, but I don't always eat right. I know, I need to eat more fruits and veggies, but sometimes I just have to pound some chips because they taste so good. That's why I love my Field of Greens. It helps me eat healthy when I don't have much time. And each fruit and vegetable in Field of Greens was doctor selected for a specific health benefit.
The Ramsey Show
The Key to Financial Success: Slow and Steady
Heart, lungs, kidney, metabolism, even healthy weight. And folks, I ain't getting any younger. It's super easy to mix with water. And here is the great part of it. I thought it might taste like grass, but it tastes great. And only Field of Greens makes this promise. Your doctor will notice your improved health or your money back.
The Ramsey Show
The Key to Financial Success: Slow and Steady
So go to fieldofgreens.com slash Ramsey for 20% off your first order. That's fieldofgreens.com slash Ramsey to save 20% on your first order.
The Ramsey Show
The Key to Financial Success: Slow and Steady
All right, George, today's question comes from Ava in Montana. She writes, I'm 25 years old and my husband is 40. Because of the age gap, I'm concerned about my financial state if my husband passes before I do. We both work in church ministry and earn $80,000 combined. We have very little retirement or savings. I have a $350,000 whole life policy on him, and the premium is $200 a month.
The Ramsey Show
The Key to Financial Success: Slow and Steady
My fear is that if he gets a term life policy, his health will decline later in life and prevent him from getting it renewed. I want a guarantee of long-term income, but at an affordable rate. Is there anything available that could work in my situation? Well, George, you're Mr. Insurance. That's what they call me, Ken. I mean, that's what we call you around the office.
The Ramsey Show
The Key to Financial Success: Slow and Steady
You know, I see him across the way, and I go, there he is, folks. Is that my personal brand? Mr. Insurance.
The Ramsey Show
The Key to Financial Success: Slow and Steady
uh i do have a weird affinity so this is kind of your thing i'll just say the whole life needs to be dealt with immediately get rid of that and uh get a good term life policy that's going to put him well into his 60s and at that point you guys should be fine if you do what we teach as it relates to investment george tell her what she needs to know so let me go through this systematically number one the 350 000 policy is not enough
The Ramsey Show
The Key to Financial Success: Slow and Steady
And I'll give you a real life example. I'll use me as example. Now I know that anybody that looks at me on the show, you know I'm a picture of health. I mean, I get that. And I look a lot younger than my 50 years. I also understand that as well. Especially if you see him on the pickleball court. That's exactly right. I'm very spry. Very spry for a 50-year-old. He is supple and nimble.
The Ramsey Show
The Key to Financial Success: Slow and Steady
Supple and nimble. Thank you very much. But, you know, I've got three kids, and they're all teenagers, and a wife and two doodles. So a lot of responsibility on me, you know what I'm saying? And just to really give you a real-life thing here, I renewed mine, got a better deal because I was in tip-top shape when I got it probably, I don't know, eight years ago.
The Ramsey Show
The Key to Financial Success: Slow and Steady
That's going to carry me through to where, again, Stacey would be fine if something happens. In fact, she'll be so fine, I'd be looking over my shoulder. I might have to sleep in another room. Dick Van Dyke's done. Keep one eye open. You know what I mean? However, and then the kids would be fine too. That's all you need for his situation is to get that retirement going.
The Ramsey Show
The Key to Financial Success: Slow and Steady
and really see that compound interest. You need to call our friends at Zander Insurance because I've done this now, and Zander, it's one-stop shop. You call them. I want to get good term. They're going to take care of you. They'll compare pricing with the top companies. Compare pricing, get you the best deals, and they guide you as to what you need.
The Ramsey Show
The Key to Financial Success: Slow and Steady
We've worked with Zander forever, and so make that happen right now. Absolutely. Right now, and it's so cheap. I don't think people realize how affordable peace of mind is. Yeah, it's not going to be $200 a month.
The Ramsey Show
The Key to Financial Success: Slow and Steady
And now you can eat as many biscuits as you would like, George. I'm good. Because, you know, your wife and daughter are okay.
The Ramsey Show
The Key to Financial Success: Slow and Steady
Well, what's keeping you guys from making progress? Just not enough income and you've cut everything you can cut and you just still don't have enough income to make progress?
The Ramsey Show
The Key to Financial Success: Slow and Steady
So would this move... So you gave Georgia and I, I think, three scenarios, right? Correct. Which one of those three scenarios allows you to cut... Expenses, but also provides an opportunity for greater income. Both at the same time. Which one of the three options or however many you gave us?
The Ramsey Show
The Key to Financial Success: Slow and Steady
Yeah. Rule of thumb for you, Ashley, and everybody listening or watching, I wouldn't make a major life change unless it has both short-term and long-term benefits. because there's a lot that goes into a major change, and major change when it's good in the short term and sets me up for what I want my long term to look like. That's a no-brainer.
The Ramsey Show
The Key to Financial Success: Slow and Steady
Outside of that, no, I'm going to stick and hustle and dig my way out, not just pull the parachute.
The Ramsey Show
The Key to Financial Success: Slow and Steady
So why are you having to file bankruptcy? I get what we just heard. I'm now understanding that, but it feels like a lot of people dropped the ball and it was before you. And so this has got to shake out somehow. So what have you done so far? What do you know? What do you not know?
The Ramsey Show
The Key to Financial Success: Slow and Steady
I just like how you did the little wordplay so as not to technically endorse somebody. Now I want a chicken parm is the problem. Yeah. Shouldn't have said that. Yeah. I won't say which one, but some of those commercials are really obnoxious and some are kind of funny. Oh, the marketing's great.
The Ramsey Show
The Key to Financial Success: Slow and Steady
They've gotten into a real, it reminds me of the days when I was growing up when it was like the beer commercials were really competing to be which ones were the funniest. And I feel like we've got the big three insurance. They're all really pouring the money into celebs, a lot of funny stuff, trying to be funny. Yeah, you got Jake, you got Mayhem, you got Flo. That's it.
The Ramsey Show
The Key to Financial Success: Slow and Steady
You would be a great insurance salesman. I appreciate that. I think I could see you as a spokesperson doing that in your little cute bomber jacket there. Thank you for saying that. Because you're very trustworthy. You're a small guy, but you've got a very, very serious beard. Well, I'm not intimidating.
The Ramsey Show
The Key to Financial Success: Slow and Steady
Okay. Neither one of us are. I dug too far for the compliment. I hit rock. Neither one of us are intimidating. You run into us in an alley and you kind of take a sigh of relief. Yes, absolutely. They're like, oh, there's two little guys right there.
The Ramsey Show
The Key to Financial Success: Slow and Steady
Let me walk you over there, sir, right this way. You were like, you instantly went to a spin, a point. You gave him an aisle number. Absolutely. I like that, George. So I'm...
The Ramsey Show
The Key to Financial Success: Slow and Steady
unbearably helpful that's what my wife says at least if you're ever looking for me at a Costco and you think it's me first ask yourself is he near a sample because if it looks like me and it's a sample line it's me Stacy's doing the shopping Ken's doing the same that's exactly right that's what's up that's how it goes all right let's head out to the phones Brooke awaits in Syracuse what's going on Brooke
The Ramsey Show
The Key to Financial Success: Slow and Steady
You as well. Oh, happy Valentine's Day, Brooke. You're the first one to say that to us. First one to say that to us. We were starting to get our feelings hurt a little bit, but thank you.
The Ramsey Show
The Key to Financial Success: Slow and Steady
Yeah, uniquely unsuitable for a child. I love your emotion on the Mustang. Let me guess, the Mustang convertible is your hubby's car.
The Ramsey Show
The Key to Financial Success: Slow and Steady
Good for you. So I financed it. You wanted to let your hair flow, huh? Come on. On the way home, whoo! Your little Tom Petty free-falling.
The Ramsey Show
The Key to Financial Success: Slow and Steady
So this wasn't a resale, somebody else living in it. This was a builder built this essentially as a spec house on that property.
The Ramsey Show
The Key to Financial Success: Slow and Steady
Oh, of course. Do you have a good lawyer?
The Ramsey Show
The Key to Financial Success: Slow and Steady
Hold on a second. Okay. Now your lawyer's dragging this out?
The Ramsey Show
The Key to Financial Success: Slow and Steady
Why is it not sold yesterday? See, here's the deal, Sarah. I'm listening to this, and George will keep coaching you, but I'm jumping in. I'm getting fired up on your behalf. I like how fired up you're getting, George. It's hard to tell between when you're calm and when you're fired up, so it's really got to be discerned. Well, I'm often irritable, you know. You are.
The Ramsey Show
The Key to Financial Success: Slow and Steady
But what's going on here is not the irregular income. You kind of presented this call as, my husband's got an irregular income. By the way, George and I do as well. So you're actually talking to two people that this is how we are paid as well. And so your issue is not that. Your issue is you're overspending. You're not living within the means, whether it's regular or irregular. That's the problem.
The Ramsey Show
The Key to Financial Success: Slow and Steady
Mary, Mary, Mary, it is time for you to get real seriously mad and get going with it. Fire the lawyer now. You are getting jerked around like I've never even – I can't remember the last time I heard a story like this, and I feel bad for you, but you are going to have to stand up and fight. So the builder screwed you. The inspector screwed you. Sounds like your lawyer is screwing you over.
The Ramsey Show
The Key to Financial Success: Slow and Steady
And so what happens is because you put all this stuff that you couldn't afford on credit and you got yourself in so much debt, the irregular income makes it even more stressful than it would be if you had it coming in every month.
The Ramsey Show
The Key to Financial Success: Slow and Steady
So I just want to make sure that you are acknowledging this or Hubs needs to acknowledge this because if he's holding up the sale of the Harley, then you guys got to have a real sit down here and go, this has got to stop. But the irregular income is not your issue. It's the behavior. And to George's point, you better go make some more right now. Sorry, George.
The Ramsey Show
The Key to Financial Success: Slow and Steady
But even that's a secondary action. You didn't even hear anything George said.
The Ramsey Show
The Key to Financial Success: Slow and Steady
He works hard to finish that sentence. I want to hear this. He works really hard. Keep going.
The Ramsey Show
The Key to Financial Success: Slow and Steady
I don't care how great your toys are, when you're miserable underwater with debt, you don't love anything. Right, true.
The Ramsey Show
The Key to Financial Success: Slow and Steady
Let me ask you a quick question. Five second answer or less. How happy would he be if all that debt went away tonight?
The Ramsey Show
The Key to Financial Success: Slow and Steady
Well, then why don't we aim on that, people pleaser?
The Ramsey Show
The Key to Financial Success: Slow and Steady
And you are the common denominator in this. And I hate that this is happening. But I got to tell you, George, if I were in this situation, I promise you I'd have the builder begging for mercy because he is liable. The inspector is liable. And your lawyer is a scumbag. I could go take care of this in court, and I could get a law degree out of a Froot Loops box and take care of this situation.
The Ramsey Show
The Key to Financial Success: Slow and Steady
Cars. You're doing great, by the way. You're okay. I mean, look at us. I mean, we don't scare anybody. So just deep breath. You're going to be fine.
The Ramsey Show
The Key to Financial Success: Slow and Steady
I'm more pissed off than you are, Mary. This is America.
The Ramsey Show
The Key to Financial Success: Slow and Steady
I'd go to the local news. They love this crap.
The Ramsey Show
The Key to Financial Success: Slow and Steady
All right, so here's what I want to know. So after the charts and graphs kitchen moment, we'll call it, what did it look like going forward? How committed were you? What was the most extreme thing you did? Give some people out there that are listening and watching, give them something to hold on to. What'd you do?
The Ramsey Show
The Key to Financial Success: Slow and Steady
A lot of home cooking and food beans, yes.
The Ramsey Show
The Key to Financial Success: Slow and Steady
Oh, my gosh. Okay. Mary, all you do is make excuses for why you're getting abused.
The Ramsey Show
The Key to Financial Success: Slow and Steady
Did you stay at a decent hotel? We did. We did.
The Ramsey Show
The Key to Financial Success: Slow and Steady
Oh, good. I didn't know we were in the hotel recommendation business. No one consulted me. I'd like to see what has been published. Because I got an opinion on hotels. I'm what they call bougie, I'm told. I love that about you. I don't know what it means, but I'm told that's what I am.
The Ramsey Show
The Key to Financial Success: Slow and Steady
Please. Please do. Okay. All seven of them. Here we go. All seven. Okay.
The Ramsey Show
The Key to Financial Success: Slow and Steady
That's special. From the kitchen fights to a debt-free life. On Valentine's Day, no less. A debt-free screen. Is there anything more romantic than fiscal responsibility? I don't know. I've got to believe Cupid was debt-free. You've got to be. I almost said Cupid.
The Ramsey Show
The Key to Financial Success: Slow and Steady
But hey, how does he pay for those arrows?
The Ramsey Show
The Key to Financial Success: Slow and Steady
Yeah, it's great. And I was only going to add one thing, Michael, is that not that I'm thinking you're going to, but I think this is the human condition. I agree 100% that I would put the $20,000, the additional after he's done everything else, the emergency fund. Don't let that burn a hole in your pocket. And that's an old phrase.
The Ramsey Show
The Key to Financial Success: Slow and Steady
When I was a kid, your grandfather would give you 50 cents or something, and then don't let it burn a hole in your pocket. What does that mean? It means hang on to it. Don't spend it right away. And I think for a young couple, certainly this young, you get 20 grand there.
The Ramsey Show
The Key to Financial Success: Slow and Steady
There's a lot of people that will talk them into using the 20 grand right now to get in a house as opposed to be patient, let that 20 grand be an awesome start. and really build a really big down payment. Oh, absolutely.
The Ramsey Show
The Key to Financial Success: Slow and Steady
But you know what I'm talking about. There will be no shortage of people that will go, oh, take the $20,000 and only put this in small. No, no, no. Sit tight on that $20,000. Build on that $20,000 would be my advice.
The Ramsey Show
The Key to Financial Success: Slow and Steady
Oh, this is a fun one. I like this. Tell us more. Tell us how much profit it is spitting off in rental or have you not started renting it yet?
The Ramsey Show
The Key to Financial Success: Slow and Steady
So what were you making in a year for renting that?
The Ramsey Show
The Key to Financial Success: Slow and Steady
I'll tell you what I would do if I were you, because the house is not worth an enormous amount. It's not going to, I mean, how much more is it going to keep going up over 10 years, George? You know what I mean?
The Ramsey Show
The Key to Financial Success: Slow and Steady
I wouldn't even float the payment. I'd be sitting in the banker's office, the lender going, I'm not paying you a cent because all of you are going down. But after I got a lawyer who had a brain and who wasn't going to take advantage of you guys. Yeah, I think A1, find a new attorney. New attorney with a backbone. Somebody who wants to destroy somebody. Because this is wrong.
The Ramsey Show
The Key to Financial Success: Slow and Steady
And they're not keeping $10,000 because you guys got expenses on that house. So for those reasons, George, for those reasons, Paige, I, if I were you, would sell the house and knock that mortgage of your actual home in half. I think that's going to put you further ahead financially than actually keeping the house.
The Ramsey Show
The Key to Financial Success: Slow and Steady
I just don't see that that house is worth that much long-term versus your current home. And your current homes were double. And you're going to be able to roll that in time like George has done. George Whitney have done that recently. And so that's what I would do if I were you. I'd sell the rental and put it all towards your current home.
The Ramsey Show
The Key to Financial Success: Slow and Steady
Do you have a brand new bomber jacket? I always try to impress Ken with my wardrobe. I feel like this is one I haven't seen before. He looks impressed. I love it. It's a good look.
The Ramsey Show
The Key to Financial Success: Slow and Steady
We have actually really good looking. I was looking at them before the show. It's a pretty good looking group of people. You say it like it's rare, Ken. Well, it is rare, I'll be honest. But today, kid, we've got a great-looking group out there, full studio lobby. We're going to have fun today. That's what George and I do. We're going to coach you, but we're going to have some fun.
The Ramsey Show
The Key to Financial Success: Slow and Steady
Okay. You're driving an older car for the other car, correct? Dave would have said, you should have bought a nicer car.
The Ramsey Show
The Key to Financial Success: Slow and Steady
All right, let me ask you a quick question, Landon. You seem like a very even-keeled, level-headed person, so this may be difficult for you to answer. But have you ever acted out of emotion before and realized that your emotion was wrong? Sure. All right. So your emotion is wrong on this Mercedes. Well... Your emotion's wrong.
The Ramsey Show
The Key to Financial Success: Slow and Steady
Wait, wait, wait, wait, wait, wait. You started off and said it was all emotional, and I just destroyed the emotional argument on your behalf, by the way. And now you want to go intellectual.
The Ramsey Show
The Key to Financial Success: Slow and Steady
So, you know, this stuff doesn't have to be dour. As I say, if we don't laugh, we cry. And by the way, I've got to say one other thing on the bomber jacket. It matches your beard perfectly. Ken, I need to just carry you in my pocket just to compliment me.
The Ramsey Show
The Key to Financial Success: Slow and Steady
What year is that Mercedes and how many miles? 2018, it's about $85,000. Yeah, it's totally fine. I drive a used Mercedes as well. If you take good care of it, it'll last forever. It's a little bit more expensive to keep up. Yes, but you've got it. I mean, listen, you've been shooting all over yourself and you need to stop.
The Ramsey Show
The Key to Financial Success: Slow and Steady
Keyword should, just for those listening who weren't sure what Ken just said. I know exactly what I said. And we all tend to should, but I'm using it very purposefully. My therapist tells me this. It's called double entendre. Stop shooting on yourself. I should have done this and I should have done that. That's the idea.
The Ramsey Show
The Key to Financial Success: Slow and Steady
And so you can sit there and play that game and talk yourself into another $5,000 car. Sounds like you've got two $5,000 cars or somewhere in that range. So you do whatever you want to do. You can take the car back. And if that allows you to sleep better, but I think you're not addressing what's really going on. And what's going on, George, this is more your lane than mine.
The Ramsey Show
The Key to Financial Success: Slow and Steady
Although I understand it. I just think there's a deep rooted shame in this.
The Ramsey Show
The Key to Financial Success: Slow and Steady
I don't think it's fear. I think it's shame. I think he's got shame over this. And I think you've got to confront that. Did you grow up with money, Landon?
The Ramsey Show
Your Financial Mistakes Shouldn’t Define You
And if his if his thing, I don't know what the fear is. Is it security? I don't know how you would feel secure paying credit card companies all this money every single month, knowing that you owe them still twenty five thousand. And you guys have been at this for three years already, right?
The Ramsey Show
Your Financial Mistakes Shouldn’t Define You
Have you asked him, are you exhausted? Do you want this to go another... Yes, I know he is. Because based on your math, you've got another three years to go. I know. Can I tell you, straight up, your plan sucks if it takes six years to pay off debt. But, George, what would the 9,000 do? Don't you think he would agree you guys can do better?
The Ramsey Show
Your Financial Mistakes Shouldn’t Define You
It changes your, your momentum. It changes your hope that you're actually going to see some light at the end of this tunnel. What's your household income?
The Ramsey Show
Your Financial Mistakes Shouldn’t Define You
Okay. And are you working outside the home?
The Ramsey Show
Your Financial Mistakes Shouldn’t Define You
And show them the math and go, listen, I think we can be debt-free within a year, maybe 18 months instead of another three if we do this plan as it's laid out.
The Ramsey Show
Your Financial Mistakes Shouldn’t Define You
Hi. I just needed to get some advice. I did the ultimate no-no. I bought a house with somebody I wasn't married to. After about a year of having a house, I needed to move out due to some circumstances when we broke up and Now the house is going to go into foreclosure, and I'm just trying to figure out what are my options here, what to do.
The Ramsey Show
Your Financial Mistakes Shouldn’t Define You
I've also accumulated about $25,000 in debt due to these circumstances and trying to figure out how I can get out of this.
The Ramsey Show
Your Financial Mistakes Shouldn’t Define You
Well, I guess you can call it a personal loan. It was a water softener bill for the house.
The Ramsey Show
Your Financial Mistakes Shouldn’t Define You
That's one of the loans that's part of my debt now.
The Ramsey Show
Your Financial Mistakes Shouldn’t Define You
What happened? Are you on the mortgage?
The Ramsey Show
Your Financial Mistakes Shouldn’t Define You
Yes, I'm on the mortgage. We're both on the mortgage. And you're both on the deed. And we're both on the deed. He's still in the house. I moved out.
The Ramsey Show
Your Financial Mistakes Shouldn’t Define You
You moved out and he decided to stop paying?
The Ramsey Show
Your Financial Mistakes Shouldn’t Define You
Well, yeah, we were paying before. When I moved out, he was paying, and then now he decided to stop paying.
The Ramsey Show
Your Financial Mistakes Shouldn’t Define You
It's in the process of getting there. We're four months behind. We have been trying to sell the home but have been unsuccessful with that.
The Ramsey Show
Your Financial Mistakes Shouldn’t Define You
We had showings, but no real interest in the house. And it's a brand new house.
The Ramsey Show
Your Financial Mistakes Shouldn’t Define You
Are you working with a real estate pro?
The Ramsey Show
Your Financial Mistakes Shouldn’t Define You
And what is their logic for why nothing's moving here? Is it price too high? Yeah.
The Ramsey Show
Your Financial Mistakes Shouldn’t Define You
They feel like, well, it was priced too high, but because there was a new community being built in the area, that was kind of affecting us as well because they were able to bring their prices down, give lower interest rates and that sort of thing.
The Ramsey Show
Your Financial Mistakes Shouldn’t Define You
Yes, as far as we can go. We're now in the process of asking the mortgage company for a short sale to see if that's even possible.
The Ramsey Show
Your Financial Mistakes Shouldn’t Define You
Do they know that you have the place listed and you're trying to sell it before the foreclosure goes through?
The Ramsey Show
Your Financial Mistakes Shouldn’t Define You
Okay. I mean, that's going to be your best bet is just trying to sell this thing ASAP, even if you have to lower the price instead of going through a short sale or, worst case, that foreclosure.
The Ramsey Show
Your Financial Mistakes Shouldn’t Define You
But even if we lower the price, the bank has to approve us going below what we owe on the house.
The Ramsey Show
Your Financial Mistakes Shouldn’t Define You
Yes, because what do you guys owe on the mortgage? $465,000. And when you moved out, he obviously could not pay that mortgage on his own. Was that the case?
The Ramsey Show
Your Financial Mistakes Shouldn’t Define You
I'm assuming no. Yes. I don't know. He paid it for six months, so.
The Ramsey Show
Your Financial Mistakes Shouldn’t Define You
Okay. He was floating it and then could no longer float it. What's the communication like with your ex right now?
The Ramsey Show
Your Financial Mistakes Shouldn’t Define You
We don't communicate unless it has something to do with the home.
The Ramsey Show
Your Financial Mistakes Shouldn’t Define You
No, I don't pay anything towards the mortgage. I moved out. I had to find another place to stay, so I'm paying where I have to live.
The Ramsey Show
Your Financial Mistakes Shouldn’t Define You
I don't either. Unless you guys can find a way to sell it before it forecloses.
The Ramsey Show
Your Financial Mistakes Shouldn’t Define You
And I don't know that you can or want to float the payments to help get out of this or have the ability to.
The Ramsey Show
Your Financial Mistakes Shouldn’t Define You
What are you making right now? What's your income?
The Ramsey Show
Your Financial Mistakes Shouldn’t Define You
And where's all that money going? That's a good income.
The Ramsey Show
Your Financial Mistakes Shouldn’t Define You
Okay. And what else? Because you're bringing home probably, what, $8,000?
The Ramsey Show
Your Financial Mistakes Shouldn’t Define You
I mean, well, after tax, I guess you're saying after taxes, after taxes about six.
The Ramsey Show
Your Financial Mistakes Shouldn’t Define You
Okay. Are you doing any investing right now?
The Ramsey Show
Your Financial Mistakes Shouldn’t Define You
Uh, yes. I mean, I invest in, you know, my 401k and stuff like that.
The Ramsey Show
Your Financial Mistakes Shouldn’t Define You
Yeah. We need to pause all of that. You need to act like everything is on fire and you need to work on getting out of this house mess and paying off your debt. So we're not saving, right? Do you have any savings?
The Ramsey Show
Your Financial Mistakes Shouldn’t Define You
Uh, yeah, I have a, I have some in savings.
The Ramsey Show
Your Financial Mistakes Shouldn’t Define You
And what's owed to get current on the mortgage?
The Ramsey Show
Your Financial Mistakes Shouldn’t Define You
Okay, and he doesn't have anything saved?
The Ramsey Show
Your Financial Mistakes Shouldn’t Define You
I would assume not. I can't say for sure.
The Ramsey Show
Your Financial Mistakes Shouldn’t Define You
I would do some homework and find out where you're at in the foreclosure process and find out how much time you have to at least try to get current on payments so that you can get out of the foreclosure process and have time to then sell. Okay.
The Ramsey Show
Your Financial Mistakes Shouldn’t Define You
And that might mean you both put some skin in the game and go, all right, I'm going to put in three grand a month and we're going to get caught up on these payments. Which means you need to get rid of all of the expenses in your life. Anything that isn't food, utility, shelter, transportation must go right now, including investing.
The Ramsey Show
Your Financial Mistakes Shouldn’t Define You
Okay. Well, do you, well, I have these credit cards that have like high interest rates. Do you suggest taking a loan from the 401k? No. And paying it off?
The Ramsey Show
Your Financial Mistakes Shouldn’t Define You
No more debt. If it has the word loan in it, if it has the word consolidation or relief or settlement, run far away. Your income is the solution here.
The Ramsey Show
Your Financial Mistakes Shouldn’t Define You
Can he get a temporary roommate, a friend of his, to live in the house too and pay rent to help get above water?
The Ramsey Show
Your Financial Mistakes Shouldn’t Define You
I don't know. Like I said, we don't have communication. I would suggest that that's what he'd do.
The Ramsey Show
Your Financial Mistakes Shouldn’t Define You
You're going to need to start communicating.
The Ramsey Show
Your Financial Mistakes Shouldn’t Define You
And this could wreck your financial life if you go through this foreclosure.
The Ramsey Show
Your Financial Mistakes Shouldn’t Define You
Well, you're kind of stuck right now until you guys figure out the next move, and there's sort of the ABC. The best option is to sell it for the most you can get for it, and then you're probably going to lose money on this deal, I assume. No one's walking away with cash at the end of this.
The Ramsey Show
Your Financial Mistakes Shouldn’t Define You
I think you need to have a come to Jesus meeting and say, I got to know everything about what's going on in your life. And you're going to know everything that's going on in my life until this is all over. But we need to make a game plan. Yes. Okay. I'm so sorry. You can talk to a real estate attorney and dig into that, but that's going to cost you too.
The Ramsey Show
Your Financial Mistakes Shouldn’t Define You
But I really hope this doesn't end in foreclosure and you have an amazing income. Use that to your advantage to catch up and get out of this thing with as little damage as possible.
The Ramsey Show
Your Financial Mistakes Shouldn’t Define You
I'm on baby step seven and want to stay there, but I don't understand how to do it. I have future debt coming and I don't know how I can account for it in your plan. For example, I know I will need to buy a new car in the next three years. I also have home repairs that need addressing. How do I account for these upcoming expenditures? Love that. We need to bring back expenditures.
The Ramsey Show
Your Financial Mistakes Shouldn’t Define You
Pre-deciding that you're going to have debt is a great way to go into debt. So I would just decide I'm not going to go into debt for any of this. Nobody needs to buy a brand new car in the next three years. You can buy a used car and you can pay cash. And the way to do all of this, the home repairs that need addressing, you know these are coming up.
The Ramsey Show
Your Financial Mistakes Shouldn’t Define You
So what you do is you set up a sinking fund for each of these. So a upgrade in car sinking fund, we're going to put $500 a month away in the budget, in the bank account, so that we have $6,000 per year going toward this new car fund. Then for the home repairs, another $500 because we know we have these upcoming repairs.
The Ramsey Show
Your Financial Mistakes Shouldn’t Define You
Try to calculate as best you can when it's going to happen and how much you're going to need. And then divide it out and set that amount aside in your bank account within your every dollar budget in a sinking fund. So that's the solution. Neither of these are even emergencies.
The Ramsey Show
Your Financial Mistakes Shouldn’t Define You
If she's in Baby Step 7, truthfully, that means she has no debt whatsoever, no mortgage, the house is paid for, and she has a fully funded emergency fund of three to six months of expenses. So the question, I have future debt coming, is the wrong statement, right? How do you account for these? The sinking fund and the budget. You cash flow everything.
The Ramsey Show
Your Financial Mistakes Shouldn’t Define You
And if you can't, that means you can't afford that car or we can't afford to do that home repair with that person right now. Do what needs to be done at the speed of cash. And that's the only way to do baby step seven or any of the baby steps for that matter.
The Ramsey Show
Your Financial Mistakes Shouldn’t Define You
Man. Yeah. That's real life. Well, I like that you're trying to get rid of the truck. You said you're $10,000 underwater on it. So you owe $49,000? I owe $39,000.
The Ramsey Show
Your Financial Mistakes Shouldn’t Define You
Oh, you rolled negative equity into it.
The Ramsey Show
Your Financial Mistakes Shouldn’t Define You
Okay, I see where you're going now. So you're saying you want to do minimum payments on the credit cards to try to stack up another $10,000 to be able to sell the truck and clear the title.
The Ramsey Show
Your Financial Mistakes Shouldn’t Define You
Could you go down to your local credit union and get a $10,000 loan for the difference and then sell it?
The Ramsey Show
Your Financial Mistakes Shouldn’t Define You
No, we're not going to go – the idea with the credit union loan is to just lessen the debt, not just move it around. And so I don't want you to rob from your home equity in order to do this. So if they won't give you a loan to the credit union because of your credit?
The Ramsey Show
Your Financial Mistakes Shouldn’t Define You
Okay. That's a tough one. How quickly could you save up the $10,000 if you guys worked your butts off? Are we talking like two months?
The Ramsey Show
Your Financial Mistakes Shouldn’t Define You
Amazing. Okay. And you want to get rid of the truck?
The Ramsey Show
Your Financial Mistakes Shouldn’t Define You
Yeah. Well... The damage is done. You already have the negative equity. So I don't know that it's going to do that much for you to delay making payments on the credit card to save up the $10,000. I'm wondering if you guys just bust through all of this. Okay. How quickly could you pay off the $30,000 in credit card debt?
The Ramsey Show
Your Financial Mistakes Shouldn’t Define You
Well, that's my question. Are they paying you for this?
The Ramsey Show
Your Financial Mistakes Shouldn’t Define You
Yeah. What's the payment on that truck?
The Ramsey Show
Your Financial Mistakes Shouldn’t Define You
Dang. And what's all your credit card minimum payments combined?
The Ramsey Show
Your Financial Mistakes Shouldn’t Define You
I did it in December. I was doing Instacart shopping.
The Ramsey Show
Your Financial Mistakes Shouldn’t Define You
I was really hustling, trying to take advantage of all the little bonuses, and it turned out to be about $20 to $25 an hour.
The Ramsey Show
Your Financial Mistakes Shouldn’t Define You
All right. But it's a lot of, you know, you're wear and tear. Is Instacart the same thing as Sparky? It's similar. I think Walmart, that's just their version of it.
The Ramsey Show
Your Financial Mistakes Shouldn’t Define You
You can pause and save up and clear the equity, but you're going to do the same thing if you clear the credit card debt and free up all those payments anyways. So it's up to you, man.
The Ramsey Show
Your Financial Mistakes Shouldn’t Define You
Chances are this thing happens. And the chances are the person who might buy your house knows that all of this is happening. So won't that hurt your chances of selling for the price that you want?
The Ramsey Show
Your Financial Mistakes Shouldn’t Define You
Personal opinion, no. The fact that you called this show to ask us that tells me you knew we were going to say that.
The Ramsey Show
Your Financial Mistakes Shouldn’t Define You
Okay. Well, my question is, how have you lived this long without a credit score?
The Ramsey Show
Your Financial Mistakes Shouldn’t Define You
So what is the impetus for you now needing a credit card or a credit score?
The Ramsey Show
Your Financial Mistakes Shouldn’t Define You
Oh, like you've created a revenue. It's not like investors, right?
The Ramsey Show
Your Financial Mistakes Shouldn’t Define You
Got it. Okay. All right. So you've got this coffee machine business going. You made 20 grand so far. That's great. And where's the credit come in?
The Ramsey Show
Your Financial Mistakes Shouldn’t Define You
What do you mean rely on? What are you needing other people for at this point?
The Ramsey Show
Your Financial Mistakes Shouldn’t Define You
I would say... There's a difference if you're like, hey, I want some friends versus I need a loan from mom and dad.
The Ramsey Show
Your Financial Mistakes Shouldn’t Define You
Well, you don't need any help. You're 29 years old.
The Ramsey Show
Your Financial Mistakes Shouldn’t Define You
So your car situation, you're really asking, hey, I need a car and I need to get a loan to get a car. Therefore, I need credit.
The Ramsey Show
Your Financial Mistakes Shouldn’t Define You
People are idiots. People are broke up to their eyeballs complaining, hoping the government's going to come save the day.
The Ramsey Show
Your Financial Mistakes Shouldn’t Define You
Which means you're not buying a $30,000 brand new car. You're buying a 2014 whatever for $6,000.
The Ramsey Show
Your Financial Mistakes Shouldn’t Define You
And I'm going to, Jonathan, when we're done here, I'll send you a copy of my book, Breaking Free from Broke. I break down every objection and how to do all of these things, how to live without a credit score, how to rent an apartment.
The Ramsey Show
Your Financial Mistakes Shouldn’t Define You
It's chapter two. Chapter two. Out of the gate, I had to lead with this. Jonathan, you can skip ahead to chapter two, okay? You can get, I'll send you the audio book if you don't even want to read it. It's fine. The point is, the information is there on how to do all of this stuff. The question is, are you willing to commit to a life of debt freedom? That's the most important part.
The Ramsey Show
Your Financial Mistakes Shouldn’t Define You
Okay. Well, you're not going to need one now. Keep not having one. How much do you have in savings?
The Ramsey Show
Your Financial Mistakes Shouldn’t Define You
What was that question? How much do you have in savings?
The Ramsey Show
Your Financial Mistakes Shouldn’t Define You
Okay, so the money is tied up in the business and you can't access it? It's not your money?
The Ramsey Show
Your Financial Mistakes Shouldn’t Define You
Well, you can pay yourself dividends, so he can get a hold of the cash. So how much do you have in savings right now?
The Ramsey Show
Your Financial Mistakes Shouldn’t Define You
So you're making $36,000 gross for the year if this continues?
The Ramsey Show
Your Financial Mistakes Shouldn’t Define You
How do you increase your income with this business?
The Ramsey Show
Your Financial Mistakes Shouldn’t Define You
Good. I was just making sure your rent wasn't like three grand a month, which is all of the money you're making. I think the key here is to get your income up because right now you don't have margin to do much of anything. You got 700 bucks to your name. Right.
The Ramsey Show
Your Financial Mistakes Shouldn’t Define You
And I don't think there's a lot of extra money every single month that you can throw toward savings for a car or savings for a business goal. So that's where the real the real question becomes, how do we get this business income up and how do you do this all debt free to just expand and grow this thing?
The Ramsey Show
Your Financial Mistakes Shouldn’t Define You
We'll send you a copy of Breaking Free from Broke in Dave's book, Build a Business You Love. There we go.
The Ramsey Show
Your Financial Mistakes Shouldn’t Define You
I see the two things here. Number one, you have a right to be upset and want to get out of this. And the second part is I don't think it's as bad as you think it's – I don't think this is like end of the world. The housing market is going to crash in your neighborhood. No one is going to buy. The prices are going to jump down. I think everything is going to be fine in the end.
The Ramsey Show
Your Financial Mistakes Shouldn’t Define You
Well, everyone in America should have plenty of money if we manage it correctly. So I feel like there is some truth in that he said he would do this, and now he's unable to, right? I also think it's unfair to put this on this guy for the rest of his life to cover his parents inability to cover their own future.
The Ramsey Show
Your Financial Mistakes Shouldn’t Define You
There's no legal obligation or moral obligation for any of you to cover their expenses.
The Ramsey Show
Your Financial Mistakes Shouldn’t Define You
So if we were in your shoes, what I would do is call a family meeting and go, listen, guys, we all might have to chip in something. What can you chip in, if anything, in order to float this for now? And what expenses can we cut? How can we get more income in their life? And that might mean parents have to go do some part-time work. Yeah.
The Ramsey Show
Your Financial Mistakes Shouldn’t Define You
This is a part of living in America. Yeah, this happens all the time. It's happening in my neighborhood. I don't think it's end of the world. I don't think she said end of the world. But I don't think it's going to like tank her housing value.
The Ramsey Show
Your Financial Mistakes Shouldn’t Define You
Right. You're definitely right about that. Are they paying a mortgage right now? Is their home paid off, the parents?
The Ramsey Show
Your Financial Mistakes Shouldn’t Define You
Okay, so here's a solution. We need to downsize into a place you can pay for in cash. Because that mortgage, they can't afford it.
The Ramsey Show
Your Financial Mistakes Shouldn’t Define You
How is that a gift? I don't understand. They can sell the house, though. It's their house, right?
The Ramsey Show
Your Financial Mistakes Shouldn’t Define You
So their name is not on the mortgage? Not that I'm aware of. Are they renting, then? I'm confused. Is their name on the deed? Not that I'm aware. Oh, my goodness.
The Ramsey Show
Your Financial Mistakes Shouldn’t Define You
Why are they paying property taxes on a house they don't even own? Yeah. There's a lot more questions here.
The Ramsey Show
Your Financial Mistakes Shouldn’t Define You
Yeah, the parent's life has been artificially propped up for a long time, and it's time to untether, start to look at all the pieces and go, how can we make this sustainable for everyone and create healthy boundaries so that nobody's resentful and the parents can stand on their own? even if that means downgrading their lifestyle substantially.
The Ramsey Show
Your Financial Mistakes Shouldn’t Define You
That's what might need to happen to have a reality check. So I'm sorry you're now involved with this because it involves your wallet, but you might have to help assemble the family meeting, get everyone on a call or in person, and go, we've got to figure this out. This is not working for anyone.
The Ramsey Show
Your Financial Mistakes Shouldn’t Define You
Oh, this all was mortgage. Oh my goodness. Goodness gracious. That is weird and we love it. We love that. So what was the range of income? Yeah, there you go.
The Ramsey Show
Your Financial Mistakes Shouldn’t Define You
You know, like that's supposed to be... And that's the part I don't know that we know the future of what the zip code values will be. The apartments very well could bring, you know, better economic times to your area. We just don't know the future.
The Ramsey Show
Your Financial Mistakes Shouldn’t Define You
So this was much bigger than just paying off the house.
The Ramsey Show
Your Financial Mistakes Shouldn’t Define You
So what role did money fights and money problems play in all this? Was this like the beacon of like, if we're going to get back on board, we're going to pay off the house and it's going to be this new chapter financially?
The Ramsey Show
Your Financial Mistakes Shouldn’t Define You
So it was part of the marriage reset. It was like, all right, part of our money stuff. We're going to get this mortgage knocked out. Yep, absolutely. Wow. And you stuck with it. Six years is a long time to do anything.
The Ramsey Show
Your Financial Mistakes Shouldn’t Define You
Yeah. Was it pretty linear? Like, we're just going to make this extra payment every month? Or was there seasons?
The Ramsey Show
Your Financial Mistakes Shouldn’t Define You
And again, I don't know how close it's going to be. I don't know what the boundary lines are going to be like. And so there's just a lot of question marks. And right now it feels like it's all emotion. I would just want more facts because this is the biggest financial decision of your life and selling it will be the second biggest financial decision of your life.
The Ramsey Show
Your Financial Mistakes Shouldn’t Define You
So you still lived your life. You still went places and had some great experiences.
The Ramsey Show
Your Financial Mistakes Shouldn’t Define You
Good-looking crew there. That's incredible. So this home now represents a new future, a family tree change, safety, security that you never had growing up. What's next for you guys?
The Ramsey Show
Your Financial Mistakes Shouldn’t Define You
Do the older kids understand what went down? Like, are they in the know? Yeah. Yeah.
The Ramsey Show
Your Financial Mistakes Shouldn’t Define You
They know money comes from work and they have seen mom and dad work really hard. That's for sure.
The Ramsey Show
Your Financial Mistakes Shouldn’t Define You
So I also don't want you to just impulsively jump out either. So I would, uh, I would work with an agent and get some more facts on what's going on and what the timelines are. But are you guys in a good financial spot? Do you guys have any debt?
The Ramsey Show
Your Financial Mistakes Shouldn’t Define You
Younger than you, George. That is incredible. I know. I feel like I've got to step up my game. Yeah. Well, a couple new bomber jackets will do it. That'll do it.
The Ramsey Show
Your Financial Mistakes Shouldn’t Define You
Do you have a mortgage on the, on the house?
The Ramsey Show
Your Financial Mistakes Shouldn’t Define You
Okay, good. So, again, if you took a loss on this, it's not going to disrupt your financial life and your future. You would just go, well, we paid a stupid tax. We're going to do a better job next time. I'm doubling down on my answer.
The Ramsey Show
Your Financial Mistakes Shouldn’t Define You
Hi. Um, thank you so much for taking my call. Um, well my situation right now is, um, my husband and I be closed on a house back in 2023. Um, I got laid off, um, the same week we closed unexpectedly and we've been underwater ever since. Um, I'm trying to, I guess I need advice on, um, what would be the best route for us to take.
The Ramsey Show
Your Financial Mistakes Shouldn’t Define You
I was making around 80 and my husband currently makes 75.
The Ramsey Show
Your Financial Mistakes Shouldn’t Define You
Okay. Are you able to cover your basic bills with his income right now?
The Ramsey Show
Your Financial Mistakes Shouldn’t Define You
Barely. We cannot afford our mortgage. Yeah, we can't afford our mortgage at all.
The Ramsey Show
Your Financial Mistakes Shouldn’t Define You
Um, a year. We, we want forbearance and we just resumed payments last month.
The Ramsey Show
Your Financial Mistakes Shouldn’t Define You
Oh my goodness. Yeah. What's the plan with the mortgage company? What's the latest communication?
The Ramsey Show
Your Financial Mistakes Shouldn’t Define You
Um, so the latest communication is they reduced our loan by like $500. Um, and we currently pay 3,300 a month. Um, And we're currently on a trial right now. So we have to pay April, May, and June. And then whatever we didn't pay for the past year, they're going to put on the back of our loan and extend our loan.
The Ramsey Show
Your Financial Mistakes Shouldn’t Define You
Why haven't you guys moved out and sold the place?
The Ramsey Show
Your Financial Mistakes Shouldn’t Define You
Honestly, I wanted to do that since last year. My husband, he doesn't want to. He doesn't have a choice. They're going to take it away from you. Yeah.
The Ramsey Show
Your Financial Mistakes Shouldn’t Define You
There's no wants right now. It's what's the reality of our situation. And then what's been going on with your job and income for the last year?
The Ramsey Show
Your Financial Mistakes Shouldn’t Define You
I just had a baby a couple months ago, so I've been home. We have three kids, so I stay home with them. And I have been looking for work. I've done some jobs here and there, but right now everything is on him.
The Ramsey Show
Your Financial Mistakes Shouldn’t Define You
Sure. He works in sales, and he earns $75,000.
The Ramsey Show
Your Financial Mistakes Shouldn’t Define You
No. No, he's salary. What's he selling? He earns bonuses. He sells cars.
The Ramsey Show
Your Financial Mistakes Shouldn’t Define You
Yeah, yeah. I agree. I mean, I mentioned to him about selling the house. We've had family, you know, loan us money, but I feel like we're just kicking the can down the road like we're getting by. But it's not relieving our situation. Like we are at a negative each month.
The Ramsey Show
Your Financial Mistakes Shouldn’t Define You
I think it's going to have to take a foreclosure for him to realize this is serious, and I don't want it to get to that point. Yeah. That's going to be traumatic emotionally and financially if you guys go through that. So you need to start looking at options of where you can live you know, where you can actually afford it. How much do you owe on the house total?
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Your Financial Mistakes Shouldn’t Define You
We owe $470. What's it worth? Right now it's worth $650.
The Ramsey Show
Your Financial Mistakes Shouldn’t Define You
Right now we don't have any credit cards. I have some credit card debt, but he doesn't have any.
The Ramsey Show
Your Financial Mistakes Shouldn’t Define You
I have around $12,000 in credit card debt.
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Your Financial Mistakes Shouldn’t Define You
What other debt do you have as a family?
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Your Financial Mistakes Shouldn’t Define You
As a family, we have a car note of $400 a month.
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Your Financial Mistakes Shouldn’t Define You
On the car? Yeah. We just got it. You just got it?
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Your Financial Mistakes Shouldn’t Define You
You're telling me in the midst of this crisis, you decided to take out a car loan?
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Your Financial Mistakes Shouldn’t Define You
We needed a car, the car that I had. What did the car cost? It was a $30,000 car. You will not convince me that you needed a $30,000 car. Yeah, you didn't. You may have needed a $5,000 or $7,000 or $10,000 car. You know, you called us, and we're not trying to beat up on you at all, but we've heard this call.
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Your Financial Mistakes Shouldn’t Define You
Well, Rebecca, I'm going to gift you guys a financial coaching session with a Ramsey-trained financial coach to walk with you through this. I need you and your husband to join the call. Will you commit to that?
The Ramsey Show
Your Financial Mistakes Shouldn’t Define You
Okay. I think if we sit down together, make a plan, make a budget, we're going to get the reality of this and then get a game plan to move forward and keep this house, if we're lucky, but likely selling it in the next few months.
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Your Financial Mistakes Shouldn’t Define You
Hey, what are you still doing here? You know the rest of the show is happening on the Ramsey Network app, right? So you got to jump over there to continue watching. You can download it for free. Just go to your app store, type in Ramsey Network. It's completely free. And I'll drop a link in the show notes to make it easy for you. So if you're watching on the app, you're in luck.
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Your Financial Mistakes Shouldn’t Define You
But if you're watching anywhere else, this show is over for you. So jump onto the app and let the fun continue. All right. Go on now. Don't make it weird. Okay, I got nowhere to go, so you need to go. Okay, bye-bye now.
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Your Financial Mistakes Shouldn’t Define You
I guess the bigger question is, were you guys ever doing the Ramsey plan straight up? Or did you veer off at some point where you went, we need more savings? Where did that come into play?
The Ramsey Show
Your Financial Mistakes Shouldn’t Define You
Okay. So far, let me tell you what I'm hearing. We paid off higher balances first. Okay, that's not the debt snowball, not the Ramsey plan.
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Your Financial Mistakes Shouldn’t Define You
Okay, I'm just trying to get it straight. Were you guys aligned in the first place on, hey, we're doing this Ramsey plan, it's weird, it's a little bit scary, we're going to have $1,000 and we're going to tackle this debt? Because it sounds like at some point someone got a little comfortable, well, I got a bonus, it might be nice to just stash that away instead of throwing it at the debt, right?
The Ramsey Show
Your Financial Mistakes Shouldn’t Define You
uh more than just the minimum payment on our credit cards and sock away a couple extra so you kind of got your head above water and said man it'd be nice to have a little bit in savings and i love that you said we so you acknowledged this is not him versus you this is something that we decided together so it might be time to have another conversation go hey i know we decided to do this don't make it an accusation just say but i want to get realigned on the unity of this plan i really i'm thinking we should take the savings the majority of it and throw it at the debt
The Ramsey Show
Your Financial Mistakes Shouldn’t Define You
And here's why. And paint that future of we're going to get going to get there faster. It's going to light a new fire under us to get out of debt, to get back to savings. Do you see this kind of picture you need to start painting for him?
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Your Financial Mistakes Shouldn’t Define You
Yeah, if he's the nerd, you've got to attack it with math instead of emotion.
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Stop Watching the Market—Start Building Wealth
And I'm going to bite my fingers until they're completely gone to not go on a rant today about what I think about these tariffs, but I will let that alone for today, I think. Let's go to Michael in Charleston, West Virginia. Michael, how can we help?
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Let's see if we could keep that income going doing something else during the summer. You've got to look. And Jill, I can hear it in your voice. You're one of those, you're the true doubting Thomas from the Bible. You've got to see the scars. And George laid it out for you, so you're going to have to try this stuff so you can see what he's saying.
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Stop Watching the Market—Start Building Wealth
Because even as he lays it out, you're having a hard time believing it's possible. But I've sat with him long enough to know he's right. But you're going to have to try some of this stuff. So I'm really going to push you in two other areas. I really do want you to see what you can make in the summer. Let's see if we can max out the summer. Can we make $9,000 in the summer? Let's set a goal.
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Let's look. Could I transition from the traditional teaching world into a different role? Because I've counseled so many teachers, George, you know this, on my old show, The Ken Coleman Show, where they didn't think they could do anything but teach. But you can. Those skill sets. You are an instructor at heart. And you are an instructor by trade. That's really, really valuable.
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Stop Watching the Market—Start Building Wealth
So if I were to just tell you to kick the tires on looking at corporate training, for instance, I think you should be making somewhere between $75,000 to $100,000. Wow. But you won't see it if you don't look for it.
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summer gigs like that that's what I've been doing I know but that's that's bottom of the barrel you're worth more than that I'm trying to get you fired up a little bit you know I'm trying to be your cheerleader in the locker room because if you head out on the field acting like you are right now you're going to get beat by a hundred
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You've got to come out of that locker room like you're going to destroy the other team. And you need to come out of this thing going, I'm going to actually do what George told me to do. And that's just the beginning. And I'm going to absolutely win. And if I've got to move, I'm going to move. But you need to happen to life, Jill. I think too much of life is happening to you.
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You haven't looked for it. You've got to get your head up. You've got to start looking. You've got to start talking to everybody. Hey, I'm a teacher. This is the skill set I've got, George. I've done this for this many years. I'm looking for this kind of work here. And you've got to look for it. You cannot find it if you don't look for it.
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And looking for it means I believe if I look for it that I'll see it. Come on, Jill. Let's go. Happened to life a little bit here. Coach Ken. Man, I need to bang the locker room, blow a whistle or something.
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Stop Watching the Market—Start Building Wealth
Lisa from Milwaukee is up next. Lisa, how can we help?
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Stop Watching the Market—Start Building Wealth
This is The Ramsey Show, where America hangs out to have a conversation about life, specifically money, your professional career, and your relationships. 888-825-5225 is the phone number. 888-825-5225. Currently holding his stock position and sitting alongside me is George Campbell. Welcome, pal. Can I be honest, Ken? I haven't even looked at my 401k. I have no desire. It's a good decision.
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We're rooting for you. I'm telling you, the clock and George Campbell got the same consistency. I'm ticking. Going to hit the mark. Speaking of taxes, you know, we are up against that favorite time of year for most Americans. Got to get those taxes in. And... That sound right there in my hands, I've got some myths about taxes I want to run by you, George. Okay. You ready? Hit me.
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Stop Watching the Market—Start Building Wealth
Myth number one, a tax refund is free money. What say you, George? That's a real gear grinder for me, Ken. Okay. I don't understand.
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Stop Watching the Market—Start Building Wealth
I'm going to get kicked into another bracket. Dumbest thing I've ever heard.
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Stop Watching the Market—Start Building Wealth
All right. Myth number three, keeping debt for tax deductions is beneficial.
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Stop Watching the Market—Start Building Wealth
You're just trying to rile me up, aren't you? It burns your biscuits, doesn't it?
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Stop Watching the Market—Start Building Wealth
All right. Myth number four. The team hates the paper crinkle.
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Stop Watching the Market—Start Building Wealth
But I think the audience loves it. America said yes. They do. Pay by tax day or don't pay at all. That's a funny one.
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Stop Watching the Market—Start Building Wealth
Unless you look good in stripes or orange. Hey, that's not me. Okay, neither one of us. Neither one of us. And finally, myth number five, you're not smart enough to do your own taxes. Now that one, the jury's out on that one. Well, now I'm not. So in this situation, that would be reality, James. I would go to jail accidentally. Because I'm just bad with details.
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Stop Watching the Market—Start Building Wealth
All right, so I'm glad we went through that. It's painless. It is. And so many people make bad decisions around taxes. The one that kills me is the idea that I'm going to go spend money. In order to get a little tax relief. Oh. You know, we hear that one a lot. That didn't make the myths. But you know the idea is, well, I've got a business. There's a lot of business owners.
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So I'm going to go out and spend a bunch of money. So I can deduct it as an expense. Yeah, as opposed to saving it or investing it. It's not a dollar for dollar deduction. Doesn't that drive you crazy?
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Stop Watching the Market—Start Building Wealth
Sure. Can we just ask what happened? Did you report this to the law? Is there anything working on this?
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Stop Watching the Market—Start Building Wealth
Where does that come from? Where does this notion come from?
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Stop Watching the Market—Start Building Wealth
It's the last thing America needs right now. Well, to be fair, George, you're so even keel that most of Americans can't tell when you're raging versus when you're relaxing. And I envy that, my friend. You're as steady as they come. Thank you. Steady Eddie, they would have called you back in the day. I'll take that. You ever heard that before?
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Stop Watching the Market—Start Building Wealth
I like to dive back into the way back back every once in a while. Yeah, I'm still in touch with the 50s. It's back when you can hit a vending machine and make some pop just roll out. Pop? Yeah, that's what they call it. I'm going to get you a can of pop. Thank you.
The Ramsey Show
Stop Watching the Market—Start Building Wealth
Uche joins us next in Alexandria, Washington, it says here. All right. I'm familiar with the Virginia. I didn't know. All right. Uche, how can we help?
The Ramsey Show
Stop Watching the Market—Start Building Wealth
Oh, sure. Well, I'm hoping that he's going to be arrested soon.
The Ramsey Show
Stop Watching the Market—Start Building Wealth
Okay. In the meantime, we've got to help you with this $530-some-thousand.
The Ramsey Show
Stop Watching the Market—Start Building Wealth
What is your relationship from the amount of hours you're working to schooling?
The Ramsey Show
Stop Watching the Market—Start Building Wealth
Okay. How much more do you have, schooling-wise?
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Stop Watching the Market—Start Building Wealth
I'm going to throw this out here because I want to hear what George's take is, and I'm not actually recommending this. I'm just wondering if we don't think about pausing school for a season to get through this.
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Stop Watching the Market—Start Building Wealth
You're so tight right now, and the degree will still be there, and I just wonder if it's not a good idea for you to spend, let's say you spent half the amount of time that you're in school working an extra job, Thank you.
The Ramsey Show
Stop Watching the Market—Start Building Wealth
Okay, so what are your monthly expenses, and then are you able to cover those with your medical?
The Ramsey Show
Stop Watching the Market—Start Building Wealth
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The Ramsey Show
Stop Watching the Market—Start Building Wealth
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The Ramsey Show
Stop Watching the Market—Start Building Wealth
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The Ramsey Show
Stop Watching the Market—Start Building Wealth
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The Ramsey Show
Stop Watching the Market—Start Building Wealth
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The Ramsey Show
Stop Watching the Market—Start Building Wealth
All right, time for our question of the day, brought to you by our friends at YRefi. A little tongue twister. YRefi. Wow. Freudian slip there, I think. If you've got defaulted private student loans keeping you up at night, YRefi can help you lower your payments and your interest rate. Visit YRefi.com slash Ramsey and start resting easier. That's the letter Y-R-E-F-Y dot com slash Ramsey.
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It may not be available in all states.
The Ramsey Show
Stop Watching the Market—Start Building Wealth
I don't know that I've ever seen a question more teed up for you.
The Ramsey Show
Stop Watching the Market—Start Building Wealth
Speaking of EveryDollar, we have multiple free trainings. These are webinars that are absolutely free for you this month. You can join in on a live webinar, and we walk you through how to break that paycheck-to-paycheck cycle in 90 days, step-by-step, like George was talking, through the EveryDollar Budget app. Over 160,000 people have signed up already. Join it. It's free.
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Go to everydollar.com slash webinar, everydollar.com slash webinar. Macon, Georgia is where Alan is waiting for us. Alan, how can we help today?
The Ramsey Show
Stop Watching the Market—Start Building Wealth
Well, don't beat yourself up too much. You don't know us and yet you decided to call us. So somebody close to you said, Alan, call these guys. Am I getting this right?
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Stop Watching the Market—Start Building Wealth
You're like, fine, a year later. A year later, I'm desperate. I'm going to call these clowns and see if they can help me. We'll do our best, Alan. We will do our best. Give us a little bit more detail here on the real problem.
The Ramsey Show
Stop Watching the Market—Start Building Wealth
That just makes my head hurt listening to that entire sentence.
The Ramsey Show
Stop Watching the Market—Start Building Wealth
Hey, Alan, Alan, Alan, Alan, Alan, you're making too many excuses as to why you're stuck.
The Ramsey Show
Stop Watching the Market—Start Building Wealth
Yeah, that's absolutely right. You can be making $20 an hour stocking shelves somewhere at this point. You've got to get really intentional. This whole I'm an idiot act, it's a function of if I can be very straight with you. You're making a lot of excuses, and George is right.
The Ramsey Show
Stop Watching the Market—Start Building Wealth
You presented us with $12,000, which in the grand scheme of things, my friend, is not a lot of money to pay off if you have intentionality. In other words, a much better paying job, and then you do what George tells you to do to pay it off. The debt mathematically is not your issue here.
The Ramsey Show
Stop Watching the Market—Start Building Wealth
Walking through how he gets out of this, Alan paid attention like you've never paid attention to anything else in your life.
The Ramsey Show
Stop Watching the Market—Start Building Wealth
And Alan, let's change the label. You're not an idiot. You're a good man. You're a husband. You're a father. You're a hustler. Pick a label, own it, and go happen to this situation. George just gave you the game plan. I'd be listening to that car in the next five minutes. I hate to admit this, but I don't always eat right.
The Ramsey Show
Stop Watching the Market—Start Building Wealth
I know, I need to eat more fruits and veggies, but sometimes I just have to pound some chips because they taste so good. That's why I love my Field of Greens. It helps me eat healthy when I don't have much time. And each fruit and vegetable in Field of Greens was doctor selected for a specific health benefit. Heart, lungs, kidney, metabolism, even healthy weight.
The Ramsey Show
Stop Watching the Market—Start Building Wealth
And folks, I ain't getting any younger. It's super easy to mix with water. And here is the great part of it. I thought it might taste like grass, but it tastes great. And only Field of Greens makes this promise. Your doctor will notice your improved health or your money back. So go to fieldofgreens.com slash Ramsey for 20% off your first order.
The Ramsey Show
Stop Watching the Market—Start Building Wealth
That's fieldofgreens.com slash Ramsey to save 20% on your first order. Let's play a game.
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Stop Watching the Market—Start Building Wealth
In the lobby of our Ramsey Solutions headquarters here, just across the studio here, through the glass on the debt-free stages, Rachel. Welcome, Rachel.
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Stop Watching the Market—Start Building Wealth
All right, and you're here to do your debt-free scream, I'm told.
The Ramsey Show
Stop Watching the Market—Start Building Wealth
So exciting. Okay, give us the data here. How much debt did you pay off?
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Stop Watching the Market—Start Building Wealth
All right. Way to go. And what was your range of income during that time?
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Stop Watching the Market—Start Building Wealth
Oh, nice. And was the bump due to side work or just a raise at your job?
The Ramsey Show
Stop Watching the Market—Start Building Wealth
Okay, I was going to say, that's quite the side hustle. That's impressive. I was about ready to be blown away. On a whim, started a gym. Yeah, fun stuff. All right, so take us back to 14 months ago when you started this journey. What led to this?
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Stop Watching the Market—Start Building Wealth
Now, how'd you hear about what we're doing here?
The Ramsey Show
Stop Watching the Market—Start Building Wealth
I got to ask, I don't want to belabor it or stay here too long, but when you had this conversation with the boyfriend and you said, I realized I was going down one path, I wanted to go another path. Did he come along for the journey or was he out? No.
The Ramsey Show
Stop Watching the Market—Start Building Wealth
Okay, so he was supportive. Yes, he is. Okay, good.
The Ramsey Show
Stop Watching the Market—Start Building Wealth
Shout out to Ryan. Your good boyfriend, sounds like to me. Yeah. So was he on the debt-free journey, too, or did he not have debt?
The Ramsey Show
Stop Watching the Market—Start Building Wealth
Wow. Good for you. A little potpourri of debt there. So what did it look like intensity-wise for you when you jumped all in to knock this debt out? What were you doing? What cuts did you make? Give us a sense of what the journey was like.
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Stop Watching the Market—Start Building Wealth
Boom. I got a feeling that that's not abnormal for you. Are you one of those people that sets a goal and goes and gets it? You're like a super achiever?
The Ramsey Show
Stop Watching the Market—Start Building Wealth
I love that. Where does that come from, do you think?
The Ramsey Show
Stop Watching the Market—Start Building Wealth
Yeah, and I've got to point out for our audience, the viewing audience can see this on YouTube if we can lock in, but Rachel, you've got some customized jeans, which I'll be honest, normally I'm a little bit worried about, but I think you nailed those. Walk us through what's happening there.
The Ramsey Show
Stop Watching the Market—Start Building Wealth
Did you self-teach or were you already taught in the art of sewing?
The Ramsey Show
Stop Watching the Market—Start Building Wealth
And we think Ryan's going to finish his race soon. Yes. When is he expected to be debt free? Do we know?
The Ramsey Show
Stop Watching the Market—Start Building Wealth
Do you think he's going to pop the question? What are we talking about? We'll see. You don't know? It's not that serious yet? I like putting pressure on the young man, George, because he's not here.
The Ramsey Show
Stop Watching the Market—Start Building Wealth
He's actually not there. Sorry, Ray. George, look what you did to her. I'm sorry. All right, so one of the questions we'd love to ask those who step on that stage, who have finished this journey, is what was the key for your particular journey to get debt-free? What would you say that is?
The Ramsey Show
Stop Watching the Market—Start Building Wealth
Good decision. I'm riding it out. I'm Ken Coleman. We'll be with you together. We always have a lot of fun together. George will take the lead on your money questions. I'll take the lead on your income questions. That's what we want you to do. And for heaven's sakes, let's address the elephant on the map. Not in the room, George. We just got to say, hold. Hold, hold. Don't freak out. Chill out.
The Ramsey Show
Stop Watching the Market—Start Building Wealth
Speaking of being cheered on, we see mom over there. Besides mom, who else were some big cheerleaders for you on this journey?
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Stop Watching the Market—Start Building Wealth
And I think you've modeled this. I want to remind people as they're listening to your story, it's so much easier to say no on the debt-free journey. No to all the friends. No to all the invitations when you've already said yes. to getting out of debt, and yes to this process. You make that decision first, the no's become a lot easier.
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Stop Watching the Market—Start Building Wealth
I'm just saying that for all recovering people pleasers like myself. I mean, that's so key. Love your story, Rachel, and it can be done. What would you say to young people who think maybe it's not possible to pay off $65,000 in 14 months?
The Ramsey Show
Stop Watching the Market—Start Building Wealth
Well, you did. You knew what you wanted, and you stayed true to it. We're so proud of you. Thanks for sharing your story. All right. The moment has come, Rachel. You've worked so hard for this. Rachel from the Dallas, Texas area. She paid off $65,000 in 14 months, making $105,000 all the way up to $115,000. Rachel, you know what to do. Take it away. It's time for your debt-free scream.
The Ramsey Show
Stop Watching the Market—Start Building Wealth
She did it, folks. I love it. She is debt free. And normally we have Mel Gibson screaming from So We Need You To Do Your Best. Freedom! Very good, George. That's as good as it gets. All you need is some blue face paint. There it is. There we go.
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Stop Watching the Market—Start Building Wealth
I want to see you go to Goodwill and get yourself a pair of jeans for less than $10. How about that? That's what I want. That's your homework assignment this weekend, George. I'll leave the embroidery to Rachel. Good choice. Good choice.
The Ramsey Show
Stop Watching the Market—Start Building Wealth
All right, let's get to Doug, who is joining us here in Nashville. Doug, how can we help?
The Ramsey Show
Stop Watching the Market—Start Building Wealth
You're giving George blood pressure issues, Doug. Just setting that up, George is having a reaction over here.
The Ramsey Show
Stop Watching the Market—Start Building Wealth
um plausibly i could do something from home i guess it's probably a little lack of um confidence too i've been a stay-at-home mom since i was 24 so well you've got a good personality uh you've got good common sense uh your brain's working fine and you need to be working for momentum sake it's not about a ton of money that you need but it's about momentum across the board
The Ramsey Show
Stop Watching the Market—Start Building Wealth
There you go. I hope he follows your advice. I think Doug's on the fence. I really do. I think he's trying to make it all work.
The Ramsey Show
Stop Watching the Market—Start Building Wealth
No question. It makes really good money. Yeah. No need to play this out the way it played out. But again, this is what happens when we do calculator psychology. Do you know what I mean? We start going, well, if I wait three years, if I hold on to it, then I get, you know, and you start trying to calculate a thought to try to bail yourself out as opposed to actually bailing yourself out.
The Ramsey Show
Stop Watching the Market—Start Building Wealth
Like you can't, you know this, George, you write about this in your book, Breaking Free from Broke, but people get into messes because they're trying to shortcut wealth. And then they stay in messes longer because they're trying to shortcut their way out of it. It feels like we got too many shortcuts. And this was, as I was just sitting here listening, he's trying to shortcut everything.
The Ramsey Show
Stop Watching the Market—Start Building Wealth
Somebody had to be the voice of reason over here.
The Ramsey Show
Stop Watching the Market—Start Building Wealth
Oh, no. This is me and Jade at 80s night on the Ramsey Cruise. This is a core memory for me now. I did not know this was... So, now, Jade and I are both attempting to warm up. You'll notice she's warmer than I am. I look very stiff and uncomfortable, honestly.
The Ramsey Show
Stop Watching the Market—Start Building Wealth
I want you all to listen in. Do you hear that cackling, woman? That's my wife. She thinks this is funny. Audience of one. Now, this is all ad lib. Watch this move. There goes the fish hook. There I am. Oh, my goodness. Jade has caught the tuna.
The Ramsey Show
Stop Watching the Market—Start Building Wealth
I was going to say that's one way to describe them. There's no moves at all. I didn't want to encourage it, but I just thought this is too good. Well, I feel like I should give some context to this. I did not set out. James, for that to happen. To win a dance battle? No, no. I was tagging along with Jade Warshaw and my wife, Stacy.
The Ramsey Show
Stop Watching the Market—Start Building Wealth
your shoulders will go back a little bit more. Your head gets a little higher as you begin to see that I can take care of myself. And the good news is if you do what George told you to do, we also want you to go see a smart investor pro in your area or two or three and have them explain how they're going to help you invest that money.
The Ramsey Show
Stop Watching the Market—Start Building Wealth
They were Thelma and Louise, and I'm just, you know, hanging around. And all of a sudden, Michael Reddish, our dear friend, he's on the mic. He goes, all right, we've got two Ramsey personalities here. Let's get Ken Coleman and Jade Warshaw on the dance floor for a dance-off, at which point I was already defeated. Jade's got more soul in her pinky finger than I do in my entire body. Amen.
The Ramsey Show
Stop Watching the Market—Start Building Wealth
I'm just glad that we were under maritime law because you could have gone to jail for what you did on that dance floor. By the way, that's a shortened version of the video, the full video. I won it because, James, I dropped down and did three push-ups with a clap. So when I came up, I was able to clap, and that won the crowd over with my physical fitness.
The Ramsey Show
Stop Watching the Market—Start Building Wealth
It's too much for young men to see. Put the women and children to bed.
The Ramsey Show
Stop Watching the Market—Start Building Wealth
And then your confidence begins to grow and you can still climb back here. Thank you for calling. This is the Ramsey show.
The Ramsey Show
Stop Watching the Market—Start Building Wealth
Good to have you here with us. So are you staying on track with the baby steps? You can take a quick quiz to check your progress and receive a personalized plan just for you. Simply head to the show notes, click on the link titled, are you on track with the baby steps and complete the quiz.
The Ramsey Show
Stop Watching the Market—Start Building Wealth
You'll get a result and that'll help you get caught up with all of our content because we want you to hit the ground running no matter how fast that is. Sometimes you just got to crawl before you walk. Remember that. and we're here along the way. Let's go to Detroit, Michigan next, where Jill joins us. Jill, how can we help today?
The Ramsey Show
Stop Watching the Market—Start Building Wealth
Well, it's because George is on. He's very intimidating, but I'm going to be here for you.
The Ramsey Show
Stop Watching the Market—Start Building Wealth
Don't look at your 401k. Don't look at the headlines today. Today's probably a good day to just play board games. You know who's having a good day? All of the news outlets who are getting a lot of views from you guys. Very excited.
The Ramsey Show
Stop Watching the Market—Start Building Wealth
I want to see you actually, I want you to look outside the teaching world. I really would like to see you try it. Just look at it. Just see where you could take your experience and skill set and make a sizable chunk more. And then I also think while you're looking at that, you ought to be looking at some good money-earning opportunities in the summer.