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The Ramsey Show

This Is Your Brain on Debt

Thu, 07 Nov 2024

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๐Ÿ“ฑWatch the full episode for free in the Ramsey Network app. Rachel Cruze & Dr. John Delony answer your questions and discuss: "My parents are threatening to kick me out" "I can't afford rent, what can I do?" "My husband doesn't trust me with our money," "How will I ever be able to afford a home?" Sports betting is affecting Americans' investing habits. Support Our Sponsors: ๐ŸŒฑ Get 10% off your first month of BetterHelp ๐Ÿฅ Learn more about Christian Healthcare Ministries ๐Ÿก Get started today with Churchill Mortgage ๐Ÿ”’ Get 20% off when you join DeleteMe ๐Ÿฆ Go to FAIRWINDS Credit Union for an exclusive account bundle! ๐Ÿฅ— Save 15% on your first Field of Greens order with code RAMSEY ๐Ÿ’ค Visit Helix Sleep for special offers! ๐Ÿ’ป Visit NetSuite today to learn more ๐Ÿ—‚๏ธ Use promo code RAMSEY for18% off at The Nokbox ๐Ÿ›Get started with YRefy or call 844-2-RAMSEY ๐Ÿ” Visit Zander Insurance for your free instant quote today! Next Steps ๐Ÿ“ž Have a question for the show? Call 888-825-5225 Weekdays from 2-5pm ET or click here! ๐Ÿ“ˆย Are you on track with the Baby Steps? Get a Free Personalized Plan ๐ŸŽ„You could win $5,000 in the Ramsey Christmas Cash Giveaway! ๐ŸŽŸ๏ธ Get Tickets to the Money & Relationships Tour ๐Ÿ–๏ธ Invest in Your Future With a SmartVestor Pro ๐Ÿ’ต Start your free budget today. Download the EveryDollar app! Listen to more from Ramsey Network ๐ŸŽ™๏ธ The Ramsey Show ย  ๐Ÿง  The Dr. John Delony Show ๐Ÿธ Smart Money Happy Hour ๐Ÿ’ก The Rachel Cruze Show ๐Ÿ’ธ The Ramsey Show Highlights ๐Ÿ’ฐ George Kamel ๐Ÿ’ผ The Ken Coleman Show ๐Ÿ“ˆ EntreLeadership Ramsey Solutions is a paid, non-client promoter of SmartVestor Pros. Learn more about your ad choices.ย https://www.megaphone.fm/adchoices Ramsey Solutions Privacy Policy Learn more about your ad choices. Visit megaphone.fm/adchoices

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Chapter 1: What should I tell my parents about college decisions?

79.006 - 101.762 Torin (Caller, Boston)

So I figured I would go there, and I could transfer to a state school where it's a 100% acceptance rate out of the community college I wanted to go to. And my parents were very against this idea. They wanted me to go play a sport in college and go to a private university. They told me that doesn't matter. I just wanted to make sure I was making the right decision because they don't agree with it.

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101.882 - 105.184 Torin (Caller, Boston)

Are they paying for it? No, they're not paying for it.

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105.264 - 106.305 Dr. John Deloney

Yeah, they don't get a vote then.

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108.607 - 113.751 Torin (Caller, Boston)

I brought that up, but they said they're going to be kicking me out. They also pay for housing. They also take the car and my phone away.

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114.295 - 123.002 Dr. John Deloney

I mean, if they want to throw a grown-up temper tantrum, that's like the most babiest thing I've ever... Wait, yeah, I want to know more why.

123.022 - 132.689 Rachel Cruze

That's so... That feels very extreme. Like it's one thing if your parents kind of like turn their nose up at community college because they're very educated. New England's like, yeah, yeah, yeah. It's like, oh my gosh, can't believe you're going to go to community college.

133.13 - 143.318 Rachel Cruze

But to kick you out and take your car and your phone, I mean, that's a... Or if they said... Is there a religious element to this? Like to go to a Catholic school? I don't know. Or like any level of like a religion conviction there?

144.776 - 152.738 Torin (Caller, Boston)

No, I don't really understand why they just said it would look bad on resumes. And I think I'm making the wrong decision. They said I was being pretty rude about it. So I think that's why.

153.558 - 171.883 Dr. John Deloney

Well, if I have no problem with the parents saying, Hey, as for me and my house, you're going to this school and we're paying for it. And if you want to go somewhere else, you're on your own. I have no problem with that at all. That happens all the time. And if they say, Hey, in this house, we go to Harvard. And so we've created this fund and you're going to Harvard.

Chapter 4: How can I prepare for buying a home?

Chapter 5: What are the impacts of sports betting on finances?

15.222 - 35.987 Rachel Cruze

Live from the headquarters of Ramsey Solutions, it's The Ramsey Show, where we help people build wealth, do work that they love, and create amazing relationships. I am Rachel Cruz, hosting this hour with my good friend and best-selling author, Dr. John Deloney. And we are answering your questions about life, money, relationships, career, anything. and everything.

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36.127 - 48.11 Rachel Cruze

So give us a call at 888-825-5225. Alright, we're going to go to the phones and is it Torin from Boston? Hey, welcome to the show.

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49.89 - 51.411 Torin (Caller, Boston)

Hey guys, thank you guys for taking my call.

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51.651 - 53.611 Rachel Cruze

Absolutely. Is it Torin? Did I get that right?

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54.732 - 55.732 Torin (Caller, Boston)

Yep, that's perfect.

55.932 - 56.972 Rachel Cruze

Awesome. What's up?

59.093 - 78.586 Torin (Caller, Boston)

So I'm an 18 year old and I'm a senior in high school this year and I wanted pretty much advice on what to tell my parents about college. I've been watching you guys for a while now, and I know the biggest thing was don't go into debt, don't take out loans if you can, try and cash flow it. So I figured I would want to go to a cheaper school. I was in Massachusetts, so community college is free.

79.006 - 101.762 Torin (Caller, Boston)

So I figured I would go there, and I could transfer to a state school where it's a 100% acceptance rate out of the community college I wanted to go to. And my parents were very against this idea. They wanted me to go play a sport in college and go to a private university. They told me that doesn't matter. I just wanted to make sure I was making the right decision because they don't agree with it.

101.882 - 105.184 Torin (Caller, Boston)

Are they paying for it? No, they're not paying for it.

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