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Full Episode
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'm Rachel Cruz, hosting this hour with my good friend and best-selling author, Jade Warshaw, and we are taking your calls, America, about your life and your money. So give us a call at 888-825-5225.
And starting us off, this show is Nick in Detroit. Hey, Nick, welcome to the show.
Hey, thank you for having me. Absolutely.
How can we help?
My question is, I'm 21. I'm in college. I paid for my education with my dad and I've got baby steps one done and I have no debt. I need to pay $3,000 per semester so that I don't go out of college with student loan debt. And would it be more beneficial for me to any additional money that I don't make? So putting into step three, I don't feel like I can be gazelle intense with that.
Or would it be more beneficial to take 15% of my income and put it into mutual funds for something further down the line?
Okay, so you have extra money. I just want to make sure I'm understanding your question. And you're asking if you should be using it to cash flow college or do something else with it.
Mainly to, I won't, me and my dad have got it covered. I just need $3,000. Should I put it towards the three to six month emergency fund, which is baby step three? Or should I just put it to a mutual fund and be able to
gross money on it over time if it's the three thousand that you're using for your college i just throw it in a high yield like if you get ahead like say you've paid for the upcoming semester and you've also got three thousand set aside for the coming you know the next semester even after that i just throw it in high yield i would not invest it because the horizon is so short is that what you're asking i want to make sure i understand
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