📈 Are you on track with the Baby Steps? Get a Free Personalized Plan Rachel Cruze & Dr. John Delony answer your questions and discuss: "I can't afford my mortgage after divorce," "I'm conflicted about staying home with my son," "Should I buy a home with my boyfriend?," "Budgeting for kid’s travel sports in Baby Step 2," "I don't trust my husband enough to have joint bank accounts," "I feel like my business is unevenly split" Support Our Sponsors: 🌱 Get 10% off your first month of BetterHelp ◎ Get 10% off Byrna product bundles and more! 🏥 Learn more about Christian Healthcare Ministries 🏡 Get started today with Churchill Mortgage 🔒 Get 20% off when you join DeleteMe 🏦 Go to FAIRWINDS Credit Union for an exclusive account bundle! 🥗 Save 15% on your first Field of Greens order with code RAMSEY ⛨ Find top Health Insurance Plans at Health Trust Financial 💸 To find out more about student loan refinancing, check out Laurel Road 💻 Visit NetSuite today to learn more 🗂️ Use promo code RAMSEY for 18% off at The Nokbox 💵 Learn more about Timothy Plan 🏛 Get started with YRefy or call 844-2-RAMSEY 🔐 Visit Zander Insurance for your free instant quote today! Next Steps 📱Watch the full episode for free in the Ramsey Network app. 📞 Have a question for the show? Call 888-825-5225 Weekdays from 2-5pm ET or click here! 📙 Check out George Kamel's Breaking Free From Broke today. 💵 Start your free budget today. Download the EveryDollar app! 🏖️ Invest in Your Future With a SmartVestor Pro 🪑 Check out Front Row Seat with Ken Coleman! ❤️ Strengthen your marriage in Nashville this Fall 💼 Connect with a RamseyTrusted tax pro for help with payroll and more Listen to more from Ramsey Network 🎙️ The Ramsey Show 🧠 The Dr. John Delony Show 🍸 Smart Money Happy Hour 💡 The Rachel Cruze Show 💸 The Ramsey Show Highlights 💰 George Kamel 🪑 Front Row Seat with Ken Coleman 📈 EntreLeadership Ramsey Solutions is a paid, non-client promoter of SmartVestor Pros. Learn more about your ad choices. https://www.megaphone.fm/adchoices Ramsey Solutions Privacy Policy
Chapter 1: What financial challenges did Brian face after his divorce?
Um, so my soon to be ex-wife and I bought a house, um, a year ago, last February. And then this last October, she decided that she wanted a divorce. Um, she already moved out and I decided to try and keep the house by myself. Um, after we purchased the house, she racked up like $10,000 in credit card debt. And I've been working really hard to get this down, but it seems like after all the bills,
that i pay every month i have like maybe an extra hundred dollars i can throw at it and it just seems like at this rate it's going to take forever to pay these credit cards off and i don't know if it's smart to keep or sell the house at this point were the credit cards in your name that she racked up after the divorce they were yes they were and was this after the divorce no it was there it was we were still still legally married okay at that point yeah can you afford to keep this place
So I make like $4,400 a month, and the house payment is $2,360. Yeah, dude. You can't breathe, bro.
What do you do for a living, Brian?
I'm an electrician apprentice, and hopefully next month I'll be able to take my journeyman's exam, so I would get a significant pay bump.
Yeah, what would that look like? In an ideal world, how much would you be making?
Probably around $3,840.
an hour okay but per month if you're at 4,400 right now what would you expect it to climb to like 6,000 yeah that's that's the hope okay and what's the reality of that actually happening uh i'd say there's probably i don't know 60 chance that i'd be able to make that happen and that's going to happen in the next month or two is that what you're saying
yeah okay i would wait then because in that case i mean if you're making yeah i mean if you're making six grand a month then that's about a quarter of your take-home pay i mean that's basically that that is the parameters uh but you you got to get it yeah i mean that that has to be the case brian and i think you have to emotionally be able to detach yourself that if it doesn't happen the way you think it's going to happen that you that you can't afford it you can't afford this house on 4400 a month yeah and i mean brother it's pretty tight on six
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Chapter 2: What options does Elizabeth have while staying at home with her son?
uh just the main is just because of the money aspect um i mean i don't really i'd call a realtor and get an actual real number in your head what's making you think that that well because you guys just bought it a year like six months ago is that what you're saying yeah it's basically in i feel like an updated monthly report on it and you'll have to pay capital gains because it's been under two years as well yeah there'll be no gain
Oh, that's true. Yeah, yeah, yeah.
That's fair. I would get a realtor, dude. I'd get a realtor and get real numbers.
And run some comps too, Brian. Because, yeah, that's right. I think there's probably a lot of emotion wrapped up in this.
I have written a check. I wrote a check one time for like $4,600. to get out of the house. And it's the, it's the best, it's, it's one of the best money I've ever, ever, ever, ever. And they say, nobody brings a check to closing. You get one, right? I did. I brought one. And within two months I had basically paid myself back, if you will. And that started my entire process again.
Yeah.
Getting out of debt and just stopped being chained every
Yeah, and I think, too, underestimating the weight of feeling like I have to keep up a mortgage payment. It's your home. Like, do you know what I mean? Like, there's an extra weight there that you're carrying because of it. It's not like a car loan that you can sell and kind of figure out. When it's your home, there's like this desperation that sets in and not always making wise decisions.
And I realize my math is bad.
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Chapter 3: Is it a good idea to buy a house with a boyfriend?
Yeah, keeping it, Brian, was probably an emotional knee-jerk reaction for you. But now that stuff is settling and it's not finalized, I mean, it's an option for sure. Because yeah, calling the show, running the numbers, you can't afford it unless... Unless your income bumps up to eight to nine grand a month. But besides that, it's not worth it. So I would figure out a way out.
Everybody who gets divorced, it just feels so common.
Yeah.
Everybody I talk to underestimates how disruptive and how destructive it is. Just blows up everything.
So difficult. Ryan, thanks for the call.
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Chapter 4: How did Tommy and Rebecca pay off their $644,000 mortgage?
Chapter 5: What advice does Ramsey Solutions offer on handling life insurance?
With one unified business management suite, there's only one source of truth for the visibility and control you need to make quick decisions. NetSuite's real-time insights and forecasting help you see into the future with actionable data. And when you're closing the books in days, not weeks, you can spend less time looking backward and more time focusing on what's next.
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Welcome back to the Ramsey show. And we are so excited. We said here in the first segment that we have a lobby full of attendees for our money and marriage getaway this weekend. And we're so excited to announce the fall weekend events of money and marriage. Running it back. Coming back in 2025. So these are three incredible days to hang out with your spouse here in Nashville.
And you'll join myself and John for a long weekend. And we're going to dive into some great content around money and around marriage, relationships, all of it. And we do live Q&As. We interact a lot. I just feel like there's like this energy about this event that is so fun. It is such a fun weekend. And we're pumped to do it this weekend and pumped that it is coming again this fall.
So if you go to RamseySolutions.com slash events, we are so excited. Oh, it's November 6th through 8th. I was trying to find the dates. So November 6th through 8th. 6th through 8th, it is here in Nashville. Early bird pricing is happening right now. Tickets start at $749. So get yours before prices go up because they will continue to go up.
And we even have some limited VIP tickets with a meet and greets and some other fun stuff. So those are available as well.
And by the way, we intentionally keep this at about half the price of what weekend retreats are. And we intentionally, like we could shove another 1500 people in this auditorium. We intentionally undersell it. So we like as a team, we choose to make less money so we can get people in here that when they leave, it's not just three days of talking to somebody.
It's three days of like, you and I are both married. We're trying to figure this thing out too. It's everybody in a room figuring this thing out together. It's my favorite thing that I'm a part of. It's awesome.
yeah it's so so fun so again uh excited to announce some new dates november 6th through the 8th of 2025 and they dropped us right smack in the middle of deer season oh for a whole weekend which is super not consult john's hunting schedule how dedicated i am to this thing wow what is what a selfless servant you are like a public servant just being here with all of us in november thank you john
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Chapter 6: How can therapy be beneficial according to BetterHelp?
I've got to prove that I have worth.
Yeah, and it feels good. And then when all that stops and there's silence there, that's the monster you have to face.
There's no silence. There's just, can I have a snack? Can I have a snack? Can I have a snack?
I know. So, yeah. So give yourself some grace, Elizabeth, for sure. But, yeah, it's one of the hardest – limbos for a mom, and I feel that every day between the kids and the job. I get it.
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.
there's too little life insurance or none at all grieving families are suddenly left behind scrambling to pay bills and trying to make ends meet i also discovered that there are a lot of rip-offs in the life insurance world like that whole life crap posing as an investment opportunity what you need is level term life insurance usually 10 to 12 times your income
which is the smartest, most affordable way to protect your family. The key is finding an independent broker who represents a ton of companies and works for you, not for the insurance company. This is exactly what my friend Jeff Zander and his team at Zander Insurance are all about. They shop the term life companies to find you the best options, and they've been around for over 95 years.
so you know they'll be there when you need them. Zander is the real deal, and that's why they've handled all my personal insurance for over 25 years. I trust them, and you can too. Visit Zander.com for instant online quotes or for a more personal touch. Give them a call at 800-356-4282.
Welcome back to The Ramsey Show. And as we've mentioned, every segment where we're going to, because they're fantastic, we have an incredible crowd here today at Ramsey Solutions. And as you can watch the show live from the lobby on the glass, right next to the lobby, right in front of us as well, is the debt-free stage. And people that stand on the stage do a debt-free scream.
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