📈 Are you on track with the Baby Steps? Get a Free Personalized Plan Dave Ramsey & Rachel Cruze answer your questions and discuss: "What should I do with my late daughter's estate?" "How would you handle the national debt?" "I'm nervous to combine finances with my fiancé" "Should I upgrade my car to impress the ladies?" "Balancing the Baby Steps with mental health". Support Our Sponsors: 🌱 Get 10% off your first month of BetterHelp 🏥 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! 📖 Preorder Build a business You Love today. 💵 Start your free budget today. Download the EveryDollar app! 🎟️ Get tickets to Investing Essentials and learn to invest with confidence. ❤️ Get Tickets to the Money & Relationships Tour 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 Learn more about your ad choices. https://www.megaphone.fm/adchoices Ramsey Solutions Privacy Policy Learn more about your ad choices. Visit megaphone.fm/adchoices
Chapter 1: How to handle combining finances before marriage?
Hi, Dave and Rachel. Thank you for having me.
Sure. What's up?
I was calling to ask, me and my boyfriend have been together for about two years. He lives there in Spring Hill, Tennessee, and I live in Michigan. And we discussed getting married, and he has plans on relocating to Michigan, but he's not willing to relocate without securing a job first. And he's been applying, but his lease ends in June.
And I'm just wondering if you think it's a good idea to wait for him to secure a job to come to Michigan to find a place together, or if I should move out. I live with my dad. Me and my daughter moved in after I got divorced. And so I was just wondering what you both think.
So I'm a little bit confused. So he's, do I think he ought to come to Michigan without a job? Is that the question?
Well, no, he doesn't. Well, I'm asking if you think I should move out of my dad's house, like before he secures a job here, or if I should just wait until he does secure a job here and me and him move in somewhere together.
Well, I think, you know, you're asking me, so I'm going to tell you, I would get married before I moved in together.
Yes, our plan is to get married.
Well, before you move in together.
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Chapter 2: What should you do with an inherited property in probate?
I heard it was a great night.
George did an amazing job. The other guy, I don't know. I don't know.
He's still out.
He's struggling.
They'll put a survey out to the audience and let them grade.
They will? Okay, good. How well you've done. I'll feel better when I don't look at that. I'm kidding. So last night was night one of our virtual event, Investing Essentials. We covered all investing principles. We went deep into the mutual fund discussion, talked about all the traps and the bad stuff.
Tonight we're going to do, and it's primarily me tonight, I'm going to open my playbook on real estate. Now, here's how I decide to buy a piece of real estate. Here's what I want it to look like. And if you're wanting to learn how to invest in real estate, we're going to go into more detail than you would want. I'm going to nerd out. We're going to unpack all the math formulas.
We're going to show you how it's really done in the big leagues and not on Tic Tac. And so the guys on TikTok.
And I would say, if people didn't know a little insight, if you weren't doing what you're doing, you'd be in real estate full time. It's what you were doing before you were doing this. But you, like real estate's your next love. You love all of this. Yeah. But your next love is, I mean, you.
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Chapter 3: How can you manage a large household on a fluctuating income?
The babies are with you now.
It was hard to find a lawyer, to be honest.
The babies are with you now in Atlanta, right?
Yes.
Okay.
It was hard to find a lawyer.
Well, $100,000 is a great part-time job.
Sir?
I said, making $100,000 for your new part-time job called getting this house probated and sold, that's a nice part-time job, $100,000.
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Chapter 4: Should you buy a new car to improve your dating prospects?
Chapter 5: How does Dave Ramsey suggest handling national debt?
Art Laffer is known for the theory of, to a certain degree, as you lower taxes, the economy heats up because the people that are making money are putting money back into their businesses, and they make yet more money, and they pay yet more taxes even though the rate is lower. Now, there's a point of diminishing returns on the curve. It is a curve. It's not a straight line.
But if you lower taxes, it heats up the economy, and you end up collecting more revenue. So if you want to increase the federal government's income from taxes, income tax, then you would, oddly enough, lower taxes. It seems oxymoronic, but it actually does work. And so if you want to get out of debt, one of the things we tell you to do is get an extra job, right?
I mean, increase your income to get out of debt. So that would be part of the equation. Let's increase the income of the United States of America by increasing the revenues produced by the tax system by, oddly enough, lowering the tax rates to cause that to happen and stimulate the economy. And that does work.
I mean, people that have studied John Maynard Keynes and are socialists, which John Maynard Keynes was a socialist, Keynesian economics are taught in almost every economics class in professor land out there. But I'm not a believer. I'm an Adam Smith guy. I'm a free market guy. And I really do understand this stuff. So anyway, all that to say, you would increase the income.
And then, of course, you would do what Doge is doing. You cut the snot out of the expenses. So if you could ever get it right side up where there was more income than outgo, in other words, there is no deficit.
Yeah.
Not only is there no – because deficit means you're going in the hole every month. And you've got to turn that to get out of debt.
Right.
And then could you start to pay off the debt? Absolutely you could. And what's weird is the way that stuff works on a governmental level, it would happen. It would be really quick because of the way the thing would feed on itself. Because the other thing that's tied into this is there's –
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