Hard Work Is the Key to Success

[Music] live from the headquarters of ramsy solutions it's the ramsy show where we help people build wealth do work that they love and create actual amazing relationships Ken Coleman Ramsey personality number one best-selling author of the book paycheck to purpose and host of the Ken Coleman show where he talks about career and jobs all day long he's my co-host today we're going to be talking to you about your life right in front of you the phone number is 88255 225 the call is free and some say the advice is worth exactly what you pay for it Ben starts this hour in Cheyenne Wyoming hi Ben welcome to the ramsy show hi Dave and Ken so grateful to be on the show today thank you again for uh taking my call sure what's up in your wh well um the brief synopsis of the situation is I'm wondering if I should take on an additional student loan um to go through a coding boot camp um to in essence double my uh income so that I can uh accelerate my baby step two progress uh for my family okay so um I'm guessing you've not been listening to us for very long um it's been off and on for a couple of months um I know the short answer would be of course not don't be stupid um that's a good short answer yes sir how much how much is the boot camp gonna cost so the boot camp is um $13,900 and what is your expected increase in income from what now to what then what would you be making um currently I'm making um $38,000 a year and I would be bring bringing that up to anywhere between 75,000 and 85,000 depending on the position that I would get all right that sounds about right and what's the long-term play in technology for you where do you want to go um i' I'd want to be um honestly my dream job would be to be coding and developing analytics um software for professional uh football programs okay great so you have a huge upside so the answer is not just simply no but it's not necessary for you to take out a loan $133,000 if you really commit to this and you come up with some incredibly intense ways of selling things three four five jobs you should cash flow this and and and and move forward so you you're going to go find an additional $133,000 to pay your way through this and see that income increase and get through the baby steps faster but don't go into debt for it it's not necessary the boot camp will always be there how much so if you got to wait you got to wait how much debt do you now have um the quote unquote only debt that we have is a is my Master's Degree which is 39,000 in debt your Masters is in what uh music education but I'm unfortunately no longer able to um continue in that why um I had uh some bad choices that made and I'm just not able to continue teaching right now oh you can't you can't teach in the classroom that's correct but you still have a masters in music correct I still have the license yes okay all right so is uh what you've done made it illegal for you to tutor people on an individual basis um no sir okay all right and so you can make serious Bank doing that you know that right I would I would open a music tutoring School immediately private lessons immediately 50 bucks an hour and I'd go get me 13,000 bucks you there yes I am sir sorry that's okay all right I mean uh traditional classroom teachers tutoring in traditional subjects are making anywhere from $30 to $50 an hour uh you can do online tutoring you can do in-person private lessons music lessons of different kinds and tutoring and with that degree if you have basic music ability and I'm guessing you do for goodness sakes then um I'm opening a tutoring business right now and I'm going to go like crazy all the time doing nothing but that um I think you got put in the in time out BAS B on what you did from what you thought you were going to be and so you you Ste back and you accepted a $38,000 position as a reality and I don't think that's the reality I don't think that's a reality it's not and and I would also say that beyond the music tutoring you're doing anything and everything it doesn't matter now $20 an hour job $25 an hour job you're doing it three four five of them to get the 13,000 you can amass that pretty quick those numbers add up get yourself a calculator and literally write down how many hours how much money per month can I make do I need to make to quickly get 13,000 do the or to get the first half or the first half start the coding and get the other half while you're finishing that's right while you're in class what the idea here is is that the boot camp will be there and so will the technology opportunities so don't further your debt don't put yourself further behind when you don't have to there's zero reason to do this see the the other thing is this the the the overall concept Ben and for the rest of you out there the only time that the debt system works is if everything works and everything never works so I went $39,000 in debt to get my Master's Degree and my dream job only it doesn't work mhm yeah and now here I sit and I'm making 38,000 and I can't justify the 39,000 that I spent in student loans to get a master's degree in music Ed uh because it doesn't work out life never goes down this like this little cute little yellow brick road Follow the yellow brick road I mean you just really you you can't keep it it there's you know the problem with going to see The Wizard of Oz is there's flying monkeys between here and there that's the problem and so you you C you got to count on the flying monkeys they're part of the program and so when you do that all of a sudden the debt looks doesn't look so delicious but when you assume everything's is a clean path of and everyone's following the speed limit and no one's talking on their cell phone while they're driving beside you and no one's eating a Big Mac while they're driving beside you and no one is putting on their makeup while they're driving beside you and so there's never any danger on the highway when you make that assumption in order for your debt idea to play out you've set yourself up for the flying monkeys you're going to get you're going to get hit and that's what happened to Ben on the first round and I don't want that to happen to him on the second round so pay cash for it on the second round even if the flying monkeys knock you off you don't have any debt that's exactly right I got the education but I don't have any debt that's right and so let's go do it let's go pay for it roll up your sleeves work like a wild man all you're going to be doing Ben is working that's it just work work work work work work work work work work work and you don't have to worry you won't die from it right before you die from hard work you'll pass out don't worry about it that's right someone will be there to catch you by the way there's a return on effort when we don't have to take a loan out that we're going to just in the distance pay off we say I've got to gut it out hustle it out big time to come up with 13 Grand to change my life boy the return on that effort is so much better you're going to find yourself paying better attention by the way in boot camp yeah most people get better grades in grad school than they did in beer pong school yeah also known as undergrad this is the ramsy show [Music] well you've all played the telephone game the first person Whispers a message to the second person who Whispers it to the third and so on around the table until the original message has completely changed multiply that confusion by a 100 if you run a business with different software systems that don't talk to each other that's why there's netw Suite by Oracle in the early days of Ramsay we were using different systems for all of our business units we needed one single source for accurate data netw Suite was the software we use to optimize and take us to the next level Nets week gave us the visibility into all of our numbers so that we could communicate across departments and plan ahead better and as we grew it scaled with with us net week worked for ramsy and it will make a difference for your business too join the more than 34,000 customers who trust netsuite to help make them smarter and make better decisions and level up their operations to learn more get a free product tour at netsuite.com Ramsey that's netsuite.com Ramsey [Music] Ken Coleman Ramsey personality is my co-host today ah love this guy I love his books I'm so glad I got to hang out with him today back at Christmas uh two different people gave me the book Comfort crisis if two people give you a book even if it's on weight loss you should take it seriously and comfort crisis is a serious book it is a great read and I got to know Michael through that and I had him on with Mike row and I and a couple other guys as we're talking about the status of work ethic the state or the I don't know the condition of lack of work ethic in America today we did an event on that uh a few months ago that was highly successful so when we heard Michael was going to be in town we put him on a bunch of our podcast and ask him to stop in here on his new book scarcity brain welcome my friend thanks for having me and congratulations on the huge success on both of these books Comfort crisis is uh you know it kind of came on a little bit late it was a late bloomer but it's become a huge book yeah like a good horse man it breaks late I guess yeah um I was surpr I was as surprised as you are I'm not surprised I'm just uh I I love a book that breaks late like that cuz that means it's got legs it'll be with us for a while cuz the contents is so so strong okay so scarcity brain versus obviously abundance brain I guess yeah yeah exactly the both sides of it but the the human lizard brain for survival teaches us to think scarcity first right correct we hone in on scarcity we're very sensitive to scarcity cues which is basically pieces of information in our environment that make us think things are scarce and our reaction is to acquire more more I think I'm hungry but it's really I'm just low on sugar yes you think you're hungry you're low on sugar you think you need to buy that third thing on Amazon Prime for the day and so you do it you think you need more information so you spend more time on Twitter on and on and on all these things um that I think we overdo in life today um track back to that they were things that would have given us a survival advantage in the past it does lead us to obesity it does lead us to materialism the loop the scarcity Loop the scarcity brain this constant striving to do something that's totally not I don't need to eat again I just ate and I sure don't need to eat 12 more Donuts I just had one I mean you know I don't need to buy another gun my wife said but I did I bought another one and so you know but I mean what is it about that how's that work well I like to say that everyone knows that everything is fine in moderation yet why are we all so bad about it bad at it right right and um I do think that these Tendencies we have when we overdo things it's usually with things that would have given us a survival advantage in the past so for all of time pretty much everything you needed to survive was scarce and hard to find food food safety safety information community community even status the number of people that you could influence um possessions right tools mhm so we sort of sounds like a video game so yeah so we default to more of those if you were the type of person that defaulted to more of those you would survive now the difference is that we sort of have that ancient drive for more in a world where we have an abundance of all those things and we don't necessarily have a good Governor that tells us oh you've had enough food or you own enough guns or you've got enough information on this event unfolding in the world and you don't need to spend all night up till 3:00 a.m. scrolling Twitter to get the next Little Death scrolling yes death scrolling exactly so why how do we get stuck in this Loop do you think well I think that one thing that's interesting is that um technology has really pushed us into more it knows what is going to work to get us to overc consume I was part of this book I went into a uh casino in Las Vegas that is brand new it's Cutting Edge uh but it's not open to the public it is a casino laboratory that is used entirely for human behavior research now if you think about something that people overdo over over and over it's a slot machine mhm right and so they've really unpacked completely illogically completely illogically but they do it anyway yeah um so I identify what I call the scarcity Loop and it is a sort of ultimate Behavior loop at pushing us into more and you can think of a slot machine so it's got three parts it's got opportunity unpredictable rewards and quick repeatability you got an opportunity to get something of value that enhances your life unpredictable rewards you know you'll get that thing of value at some point if you keep repeating the behavior but you don't know when you don't know how valuable it's going to be so with the slot machine it's like if you keep playing you'll eventually get a win but you don't know how big it'll be right and then quick repeatability you can repeat the behavior over and over now the reason um that this is important to know because it doesn't just apply to slot machines it's in all these different technological systems and institutions that really kind of determine how we spend our time our Attention our resources so this Loop is being put in social media it's what makes social media work the dopamine hit yeah it makes uh dating apps work it drives a lot of online shopping Behavior it's in the rise of sports gambling it's being put in certain fin personal finance apps and on and on and on and it's made the online porn industry the largest industry in the world exactly exactly and so in you know in the past this wasn't a thing that was just part of our life at the um at the scope and scale that it is now but because we spend so much of our Lives on screens Now it's 12 to 13 hours a day engaged with digital media it has this ability to sort of creep into our life and um push us into behaviors that I think um although can be fun in the short term they always they're always fun they're always fun in the short term uh but can hurt us in the long run so how do you flip that and go to from this false scarcity that put you into a loop and go to an abundance mentality well I think first of all if you have a behavior that you keep doing over and over and over and that is hurting you in the long run um to be aware that it probably does fall into the scarcity Loop uh this leverages what researchers call the Hawthorn effect so if you can observe a behavior it usually changes the behavior just by knowing that oh this is happening I'm doing this like you'll start to change and then second you can change any of the three parts of the loop so you can change the opportunity you can slow down the quick repeatability so an example is if you're the type of person that is buying too much dumb stuff on the internet even just having a rule that I'm only making my purchases in person that inserts a pause because you have to get into your car you have to drive down to the store and then you have to scour the aisles to find that item and in that time you probably realize I didn't even need this thing in the first place I forgot what I was here for I forgot what I was here for one of the things that you discovered in this book that I found fascinating is there is a way to actually Thrive with enough which is in your subtitle you call it a very unlikely Hack That You discovered what is that oh the yeah so I think that um so when you look at okay why do we why is this scarcity Loop so attractive to humans it probably helped us uh find food in the past so if you think about the past if you uh you needed food right H that was going to allow you to survive and so you go to one point no food the next point no food the next Point jackpot food that's the exact same architecture as a slot machine um you can use this Loop in habits that enhance your life so for example um you hunt mhm hunting is the exact same system right you know you're going out there to get an animal there's your opportunity you know you'll probably see an animal at some point but you don't know how big you don't know if it'll be the right one you don't know if it'll be old enough you don't know all these things and when you find that there's a gamble too like am I going to be able to pull the trigger in the right spot right and then you can repeat that annually whatever but along the way instead of a slot machine where you're sitting in a casino you know you're surrounded by smoke you're indoors when when you're hunting you're outside that's good for us you're also being Physically Active that's good for us you're probably hunting with other people that's good for us so you're getting all these ancillary benefits and um you see it in hunting uh you could see this in through fishing even things like uh foraging so Foodies will Forge for mushrooms but even something as simple as like you know what I'm really into uh collecting vinyl and there's this album that is really hard to find and I'm just going to walk around my city that I live in and I'm going to go from vinyl store to vinyl store and see if I can find this thing and that'll be an exciting way to spend my my time uh okay break the cycle Michael Easter the way we discovered him was through Comfort crisis the new book fix your craving mindset rewire your habits to thrive with enough it's called scarcity brain highly recommend it I will be absorbing this this weekend I have not gotten to it until now and I will immediately good stuff absolutely great honored to have you on the show my friend congratul ulations on these great works thank you very much for having me I appreciate it check it out Michael Easter Easter michael.com and you can follow him on social Med media at Michael Easter this is the ramsy [Music] [Music] show [Music] if you're like most people your home is your most valuable asset and when you want to make improvements it can feel like everything costs too much or takes too long but something as simple as custom window coverings from blinds.com can completely change your space and add value to your home we've recommended blinds.com for over a decade so you know you can trust them from blinds drapes and shutters to motorized Shades they make it easy and affordable to upgrade your entire home and their team is ready to help with everything from design consultation to measuring and installation plus there are never any misleading quotes or hidden fees everything's backed by their 100% satisfaction guarantee and shipping is always free see see why blinds.com is the number one online retailer of custom window coverings visit blinds.com to get up to 40% off that's blinds.com rules and restrictions May [Music] apply [Music] Ken Coleman Ramsey personality is my co-host today in the lobby of Ramsey Solutions we have a stage it's called the debt free stage if you stand on that stage it can only mean one thing well at least posibly could only mean one thing you're debt free Tommy and Heather are standing on that stage congratulations guys thank you where do you guys where do you guys live uh right now we live in Parish Florida but we're originally from torington in Connecticut ah fun well welcome to Nashville good to have you how much debt have you guys paid off it was uh 112 and change 112,000 how long did this take uh just over uh two years and 3 months okay and um what was your range of income during that time it would uh it started at 110 and ended at 150 cool what do youall do for a living um so before we relocated to Florida we uh worked in a syringe Factory mhm in Connecticut and uh with Co we had a lot of business so there was unlimited overtime mhm and in 2020 we decided to go get our real estate license okay and uh yeah our first year we had 14 sales mhm so that took off and um and moved to Florida to do that no we sold houses in Connecticut and it was just this past July that we moved to Florida okay you're doing real estate there not yet but we're going to be okay all right cool well way to go guys okay what kind of debt was the 112,000 oh my God what wasn't the debt let's see credit cards um cars cars solar panels my son's braces cell phones cell phones iPads you were normal yeah unfortun and normal in America sucks doesn't it it does absolutely so what woke you up 2 years and 3 months ago and how didd you get connected to all this ramsy stuff so uh truth be known this whole thing started like right when we first met I uh I have a history with addiction and she walked into my life at a time frame when everybody else was walking away for that reason um happy to say that October 7th I celebrated 11 years of sobriety a congratulations but unfortunately when the uh using stopped the spending began switched it out for a different one pretty much and um yeah so for for years and years it's basically what happened I just we would spend on everything and anything she takes half the accountability for it but 95% of it was me I'll be the first one to tell you that um what are you what were you addicted to before that you've been dry 11 years alcohol and uh painkillers okay well congratulations thank you sir that's a huge Victory you're a powerful guy to do that that's uh not everybody can do what you've done and very proud of you all right thanks and now you've applied it started applying the whole concept to uh the other parts of your life huh yeah so um uh as far as us being introduced to you uh I had a friend of mine Joey Schwarz and his wife Ruby who' been telling me about you for a long time and uh right after we got our real estate license and all that stuff he comes up to me and he says hey Tommy you need to get on this Dave Ramsey plant or however he talks and uh I hope he doesn't talk like that so he says he keeps telling me about it and I thought it was just one of those get-rich quick things yeah so um but any the opposite get rich slow yeah so he uh he was telling me about it and he stay at me about it he's like between real estate and all the overtime that you're working he's like you're going to be a millionaire in a few years I'm like yeah whatever shut up so um it was 2021 after our first year in real estate um we wound up getting Dave you're going to kill me for this uh we got our generous Biden bucks as you call it now you would think $5,600 I'd be smart and pay off two of my credit cards that are maxed out at 2500 each no we're going to take the kids to Vegas and that's what we did and this is where the big moment happened so when we get there the limousine picks us up at the airport I'm getting a Camaro the next day we got a room with a volcano View and we get to the hotel and I don't have money to cover the incidentals so my daughter my 17-year-old daughter who was with us and my son she had to uh pick it up so we can eat for the week and our first three days that we were there I I I didn't even feel like I was there I'm I just I was like beside myself I'm like you even realize what a freaking loser you just made yourself look like in front of your kids just now and that was it and it was the following Saturday we were back home we're getting ready to go to her sister's house she was in the shower and I'm scrolling through my YouTube feet I'm like yeah seen this watch that don't care y yada and then I come across this five things that'll make you wealthy video and it says Dave Ramsey I'm like hey this is the guy that Joey keeps telling me about so I'm looking down at my uh I'm looking down at my phone and I'm looking right at you and I'm like all right Hot Shot you got about 90 seconds to sell me on this Dave you didn't even need 30 seconds I'm like I'm in so uh yeah we got to oh and then there's the part that you said uh oh yeah you the uh what was it oh yeah you know what the Republicans and Democrats have in have in common neither one of them can freaking add I freaking texted Joey I'm like I'm in that was the statement that was it Y how intense did it get quickly I from this moment to the moment you guys start this journey how intense was it for you guys oh very int I mean I've I've always been like a workaholic so it wasn't anything that I wasn't really used to but I mean her and I we would work like 12-hour shifts and then we'd go out and show houses yeah you got the gazelle's on the shirts so you know about it yeah so what do you tell people the key to getting out of Deb is so as I said um I mean I've been down this road twice with using and with spending MH um for me the two key components number one is accountability MH you got to look in the mirror and like David gogins once says you know the accountability mirror every day that you make an excuse is just another day you don't have to do anything about it um so accountability is big and perseverance man just and being on the same page exactly if we weren't on the same page it wouldn't have worked at all yeah yeah way to go you two I'm proud of you proud of you well done very well done how's it feel to be free he how's it feel to be have him where he's saying I'm not going to spend us into the poor house it's a big deal it is it's a big deal I mean that's a big thing for your marriage big day for big thing for you to respect your husband when he does stuff like I mean that's that's manly that's well done both of you I'm proud of you excellent excellent job working together pulling this off and uh pushing pushing it through and uh phenomenal hey we've got the uh live and give box for you it's got the baby steps Mill millionaires book in it that's your next stop uh The Total Money Makeover book to give to somebody who's inspired by your story Financial Peace University membership as well you can enjoy these things or give them away that's what they're for a lot of people buy the Box just to take some of it and use it and take some of it and give it so we want it to give it to you guys to say thanks for coming out we appreciate you coming in from Florida to do your debt free scream Tommy and Heather St Petersburg Florida $112,000 paid off two years and 3 months making 110 to 150 count it down let's hear a debt free scream three 2 one we're free [Applause] yeah that's it you know the money thing is not as serious as the substance addiction thing but the parallels in changing it or is it still there yeah and the the parallels between what's underneath the problem and and it's so important for us to understand that when we want stuff and we put it on a credit card because we can't wait for it we we there's something deeper going on and understanding what's really going on you said this so effectively for decades is that uh I'm the problem in the mirror the person I'm looking at who I'm shaving like I'm the problem something is is going on with me in my heart and in my head that's making me live beyond what I can live under and that's what's going on and he recognized it twice and and beat it twice incredible story looking for love in all the wrong places there it is clicking prime prime prime prime prime yeah oh wait I still don't feel any better isn't that weird who knew yeah that's how this works this is the ramsy [Music] show [Music] [Music] hey guys being free to make your own medical decisions is a big deal these days Christian Healthcare Ministries gives members the freedom to choose the doctors and providers they want without the frustration of worrying about networks and with no waiting period to join it's a membership based nonprofit Ministry where hundreds of thousands of Christians share funds to pay for and pray for each other's medical bills for over 40 years chm has helped families living across all 50 states so see if chm could be right for your family check out more today at ch ministri .org [Music] [Applause] budget Ken Coleman Ramsey personality number one bestselling author of from paycheck to purpose is my co-host today Allison is in San Diego hi Allison welcome to the ramsy show hi hello hi what's up so I'm calling because I have about $116,000 um in credit card debt uh maybe a little bit a little bit over 16,000 and 177,000 in student loans so a total of like 33,000 um $700 in debt total debt um and the problem is that my credit cards the balances on those I've had them for years um and the interest is really high on some of them it's like 30% on some of them it's like 24 and the balances just don't go down so what I'm wondering is whether I should um maybe ask for like a loan um like a maybe a personal loan from one of my family members to tackle one and then start um slowly tackling the other ones I just got a new job and doubled my income oh that's great what do you make um I'm gonna start making about $6,000 per month I'm gonna say more and you were making about 3,000 I was making about 3,000 yes okay and so if you keep leaving living like you were living on 3,000 and you put 3,000 a month towards the debt you'd be out of debt in a year true um I mean I do have my the only issue now is that I do have a commute and the gas is really expensive it's about an hour and a half commute every day um sounds like you need to move 200 I that is the plan yeah in about a year my daughter's in SCH would you wait a year why would you drive an hour and a half for a year because my I share custody with my daughter's dad in um the hometown the town that I live in and um that's it's you know it's a legal thing that I have to go through or we have to figure something out but for now my daughter is you she's for three hours a day I'm G to figure something out yeah I I mean I have figured something out to where one one week week that she's with her dad Alison borrowing money will not get you out of debt you can't borrow your way out of debt interest rates are not your problem finding a way to not pay $3,000 a month on this debt for 11 months is your problem you need to find a way to pay $3,000 a month instead of finding a way to not pay $3,000 a month that's what you've done so far you've now got this fabulous Moment In Time where your income has shot way up let's find reasons and ways to make to take advantage of that and get this mess cleaned up you can't borrow your way out of debt this is not an interest rate problem this is an Allison problem it is yeah you're right you're you're a smart lady and you know all this so because I tried to do this for years I tried to borrow my way out of debt I tried to out earn my stupid stupidity I try to do all this but finally one day I just said that's it there's only one way to pay get out of debt is pay it off I got to pay it off that's how I get out of debt I got I got I need $33,000 that's 3,000 a month for 11 months oh there's some interest so it's going to take me 12 okay but it's still going to get yeah oh whatever and I got some G my gas bills higher and I'm commuting oh well maybe I'm not or maybe I am a couple days a week or maybe I don't know is there another way to do this I got to find a way I got to find a way to put $3,000 a mon month on this I got $3,000 a month I didn't have before I got this new job I got a you see what I'm doing yeah well there's an old phrase where there's a will there's a away and and it's really true it's not just a a nice little saying on a quilted you know thing in a country store I mean it's it's really that we begin to see opportunities when we do what you just said Dave when we actually say I have to find a way so I keep looking looking looking looking looking and things that Solutions opportunities that weren't seen before are all of a sudden seen and it is just that simple seek and you will find I mean that is the goal right here for her the way I changed my mindset was I always you know take it pretend like there's some kind of whacked out tragedy which is not really happening but go with me for a minute those of you that have children that you like okay let's pretend one of them was ill and you needed $33,000 to save their life yeah watch out and you had to do it in two years mhm and you you you would not find reasons to not do it you would find reasons to do it Hell hath no fury like someone trying to save the life of their child that's really good and what that means is is that you can do this it just has to become a priority in that case in that bizarre tragic situation which doesn't really exist but if it did exist you would find a way you'd find a will where there's a will there's a way yeah and you know we're going to figure this out we're not losing this kit we're going to go you know you can't have you ever seen somebody that didn't like the diagnosis they got they go to about 16 doctors so they get a diagnosis they like or treatment plan that's going to work instead of everybody going you're going to die you're going to die you're going to die and they find some kind of alternative something or other weird thing and I don't know some witch doctor claps their hands twice and spins around or whatever but they find a way right it's corre and you know cuz I'm not going to I don't accept this and and when you read that point that you go I've had it yeah that's where it changes Al yeah and that's what I need you to do here um in instead of using this new job as a just some extra margin in life it needs to clean up your mess yeah and you need to cut up those stupid credit cards get you some scissors out tonight light a candle have a plastic surgery party Maria is in New York hi Maria welcome to the Ramsey Show hi thank thanks for taking my call can you hear me okay yes what's up okay so I started listening to you guys about a month ago and I'm on baby step 4 um so I currently consider um sorry contribute 10% to my employer is Roth 401k which is the max to get the match um so I want to increase that and my question is should I contribute more to that Roth 401k should I contribute to a separate IRA account are the options inside your 401k good options they're pretty good yeah well that's not exciting I mean if they've got good long-term track records yes just increase your not above your match and get to 15% uh if not then you can go open an individual Roth IRA with a Ramsey smartvestor Pro click smartvestor at Ramsey solutions.com find the people we recommend for investing and they can help you set up a personal Roth IRA uh and pick help you pick out some good mutual funds that you feel good about you'll learn about stuff in the process of doing that which is kind of cool I'd probably do that just for that reason but you're you're on to something here what we tell people is it's kind of rock paper scissors except there's only one way to win it's um match beats Roth beats traditional in your case you've got a match up to 10 and you're going to take that and you've got it in a Ro which is a double dip that's awesome and you can do Roth beyond that to get to 15% either in an individual or at your company if you're not excited about the options at your company then go get an individual Roth for the balance of that other 5% of your income going in uh but if you're if it if your uh options are decent and you want to just stay with one simple plan you just increase what you're doing at work and then you don't have to think about it again yeah and I I think the key here is is what's my long-term goal and understanding what we teach she's new to the show and so I just want to point out that you've taught all the Ramsey personalities as we've learned so try to learn what you know if we look at the long-term effects of the stock market and the investing that plan there that Little Rock Bay procision I love that it works and it works all the time you have to stay with it and so she's brand new and I'm just getting back to you to tell her once you get on this plan stay in it that is the key don't get off when we hear these you know the your your analogy that's so powerful as the roller coaster yeah well you would if you were not invested in the last 12 months you would have missed out on a 15 plus 15 plus% rate of return yeah wow in good mutual funds that's the last 12 months nobody's talking about that everybody's talking about what mortgage interest rates are right the dead gum stock market is skyrocketing and you're not you're not even on the ride come on that puts this hour of the Ramsey Show in the books [Music] hey it's Ken if you love the show and want a deeper dive on your money Journey we have a Weekly Newsletter that gives you trending and helpful articles and tips on following the ramsy way go to Ramsey solutions.com today to sign up for our newsletter again that's ramseys solutions.com to sign up for our Weekly [Music] [Music] Newsletter live from the headquarters of ramsy solutions it's the ramsy show where we help people build wealth do work that they love and create actual amazing relationships open phones atle 88255 225 Ken Coleman Ramsey personality number one bestselling author of the book from paycheck to purpose talking about careers and jobs he's my sidekick today my co-host open phones here8 825-5222 things ouch that doesn't sound fun what's going on kiddo well I would say 2022 there was a death in the family and that's kind of where it started and then um my fiance um was I guess was let go from his job because he was having a hard time with the loss but we all were and then we decided to to start our business and so business is going fine and then I got laid off for my full-time job which was which was kind of surprising so now we're at a point where it's like all right neither one of us have like the full-time job but we've just been working our businesses and they've uh had some popup problems here and there and so it's definitely causing a lot of issues who passed away I didn't know it was uh my fiance's brother's wife okay that's certainly a tragedy tragedy it's certainly a hard thing to get past and that was uh three years ago that was no just last year oh last year okay and uh your fiance when are you all getting married how long's he been your fiance it was supposed to be this July but I actually got laid off then so I was like well they don't let laid off people get married I mean I didn't feel like that would make sense to uh it made sense to start a business well we had already had the plans and did everything to start the yeah you kind of already had a plan to get married anyway okay so how much does your fiance say make it his job or his business well uh well it's our business it was a it was a t business and also he has another property where he's a landlord and has tenants that's not a job would you have one property in tenants that doesn't take 10 minutes that's not a job okay so how much does he make well he did have a job and no honey he started a business how much money does he make nothing that's what he makes okay right you wouldn't be calling me if he was making 100 degree year so I guess just um wait stop you just drove past stop let's stop right where we were your fiance is not making any money am I correct yes or no from right now darling right now you got no money cuz you got laid off and his business is not a business it's a hobby he does not make any money am I wrong no okay yeah probably not much okay so he needs to get a job and you need to get a job and all of the sudden y'all will have income and quit calling this sitting on my butt a business Danielle you guys are in Tampa Florida you you guys need to be working multiple jobs if you can't get a really good uh job in the industry that you were in we need to be bringing in income this is a GameChanger yeah the question on my screen says how can I handle my finances after losing my job and the answer is get six jobs right no we do have um we do uh a turo we do that's where you're renting your car out to people that's like you're just using your car as a rental car yes well we have actual two cars on the platform that aren't either one of our cars right my but my point is you're in a rental car business and it's there's not enough margin in that so you're not making any money yeah that's not that's not a company you're using an app to to rent your cars right well that's a great side hustle if you got it and the cars are paid for but it's not a side hustle right but we don't need side hustles right now we need seven side hustles or six as Dave said or or fulltime full-time job what were you making at your last job I would say about four four uh Grand a month okay what were you doing I was doing um I was a quality engineering technician and why did they fire you no it was a layoff the whole the whole shift got laid off so there was only one shift okay all right so you need to replace that income with a good core career and quit messing around the side with I'm a landlord and I rent out my cars and calling that a way to make a living because you're not making a living you wouldn't have called me if you and your fiance were making serious Bank so you're in your problem is not a outgo I'm struggling with debt my finances are out of control issue your problem is you don't have any income and the great news is there's a tremendous labor shortage in America right now yeah and lots of people hiring and we're going into Christmas season yeah and listen Dave if there are some debt on those cars which many times people are carrying car payments on these cars and then renting them just like they would do a house I would sell the cars move if the if you have some equity in those cars move the cars get out of the turo business get rid of the debt if you own them free and clear Danielle sell them anyway and get yourself some some a little bit of a cushion get an emergency fund get employed pay off any debt work the baby steps you've got to get out of this turo business I just it long term it's just not a good play because you've got an asset of a car it's not an asset it just continues to go down in value and you hope that you can rent it out enough to people who fly buying a Tampa and don't want to rent from any other rental car agency it just is fraught with all kinds of problems your fiance may need to sit down with a good counselor and help him unpack because he might be depressed he might be struggling with the grief at a unbelievable level that's affecting his whole life now and he may need to sit down with somebody and unpack that because what I hear in your all's whole story is we want to figure out a way to have money without working that's your whole story that you told me on the phone and and now that I got laid off it kind of uhoh this doesn't work so you guys have got to go back to work you got to get your career start bringing home the bacon and sometimes that may be because of the death that you guys have been through and The Grieving around that that's fair but in the meantime you got to get your life back Kido this is the Ramsey Show [Music] [Applause] [Music] hey if you're in over your head with student loans and tired of getting calls from collection agencies if private student loan debt is taking away your financial piece and you don't see any way out you need why refi they're not a debt settlement company and they're not connected to a bank why refi refinances defaulted private student loans that other places won't touch and gives you a custom loan built for you based on your ability to pay so when you refinance your private student loan debt with Y refi you'll have a payment you can afford with a low fixed interest rate you couldn't get anywhere else to help you stick to your budget and work the debt snowball and you can save thousands of dollars to learn more about this custom refinancing option and a lump some payoff option you could qualify for after 24 months call 8442 Ramsey or go to Y refi.com Ramsey [Music] Ken Coleman Ramsey personality is my co-host today Paul is in Portland Oregon hey Paul welcome to the Ramsey Show hi Dave thanks for taking my call sure what's up so uh my my wife wife and I we have a we own a house uh we refinanced a couple years ago when interest rates were good and got locked in at around 3% and now uh she and I disagree a little bit on how we should use some of our investment money I think we should put the um put it towards 401k and Ira and other retirement Investments whereas she would like to pay down the mortgage sooner um My Philosophy is the uh 401k Ira uh should give a better than a 3% return so it's a little bit of a better investment in the long run but I wanted to hear your opinion okay well we teach people to do both and the process that we use has led millions of people into a situation where they're wealthy uh and the process we call the baby steps and the first goal is to become debt free other than your home that's baby steps one and two to then three is have an emergency fund of 3 to 6 months of expenses I assume you've done those things before you asked this question is that right yeah that's correct you don't have any debt and you have an emergency fund except your house right correct okay and then that brings us to Baby Steps four five and six which we do simultaneously baby step four is put 15% of your income into retirement first to the match if there is a match at work uh second to Roth and third to traditional if it takes that to get up to 15% baby step five while you're doing that is you start doing something towards kids college if that's appropriate and then six is all other monies that were not spending on life above 15% going into Investments pay down the home because you want to have both a paid for home and a large nest egg in the 401K the millionaires that we have studied those are the two primary things that they did to become Millionaires and we did the largest study of millionaires ever done in North America a couple of years ago and that was our findings so all that to say is you're both right um but at at around those numbers and that structure so what's your household income uh it's my income is 110 and hers is variable it's uh she's a substitute teacher so it's a few hundred among okay so so you make like 130,000 a year roughly yeah okay 15 how old are you uh 31 okay 15% of that if you never do anything else in good mutual funds in your 401k in a Roth with a match particularly on portion of it will make you extremely wealthy by the time you're 65 years old like $10 million is what the math will come out yeah currently I'm putting 20% with a 4% match all then what I'm telling you to do is I would back it down to 15 and I'd throw the rest at the mortgage okay and I'd get that house paid off because it's one of the two elements for the first $1 to5 million of net worth that people come up with and you get that house paid off then you don't have any payments now you're freeing up your most powerful wealth building tool which is your income meanwhile you've been getting a match meanwhile you're putting you know what 177,000 bucks year 18,000 bucks 1,500 bucks a month give or take is 15% of your all's income you're going to be unbelievably Rich if you never do anything else but certainly we'll have the house paid for in a few years and then we'll be able to put even more towards everything and the whole stinking thing mathematically just blows up in a wonderful way but uh so you're both right in that sense but would I ever uh never pay extra on the house and keep the Home Mortgage no because we found that the typical millionaire doesn't do that the number millionaires that we talked to that said you know the way I got rich was I didn't ever pay off my house I put it all into Investments almost none almost none they did both they invested and they got their house paid off that's the thing we see that's the two big things we see other stuff around the edges of it but that if you want to plow right through the middle of what these people do that's it they get the house paid off and they invest steadily not one or the other yeah and and by the way at 31 years of age I love that we're hearing this question because this is exactly what we look at when we talk to Everyday millionaire excuse me baby steps millionaires in our theme hours and we were on last week together and just one after another one after another they played the long game that we teach and this 31y old is going to be there well he you know we didn't ask about the house value and the balance on it but we're more dealing with the concept but mathematically he'll be there in about a decade yeah 41 for his first million yeah yeah and and then we go from there so yeah that that's a pretty cool place place to be yeah Andrew is in Orlando hi Andrew welcome to the Ramsey Show hi Dave thanks for having me sure what's up uh so I recently got a promotion at my current job I work in the hospitality field um I'm making $18 an hour now um and the company I work for is about to see a lar of large growth uh from now until 2025 um but I'm interested in possibly going back to school um I do already have two degrees um both are in music performance I use them for my side hustle where I'm teaching um marching bands on the side and writing music but I'm interested in possibly going back to school to get something in the data analytics side of things and to transfer departments in my company into the data analytics side and I'm just kind of looking for advice as to if I should go back to school or not probably not but I want you to understand why I'm saying that you don't have to get a four-year degree to get hired into data analytics there are so many boot camps and certification programs where you can spend a whole lot less money and a lot less time and that's great for you because you're now a professional and you're in with this company and I would also tell you that if you find a reputable uh opportunity and take it to your company leaders and say hey I love this company I'm in the hospitality game right now but I want to move over into the technology side of this company I want to be with you guys long term at would you be willing to reimburse or pay for my tuition and because you are so valuable to them now and you're going to be adding technology skills you could very well get this paid for by your company but even if you didn't it's a whole lot less money to go get that uh through a boot camp or through legit programs like bethl Tech which we endorse here uh than going back to four years of school you've already done your time with two-year degree uh two degrees you don't need a full four-year degree in technology to do that work yeah and so that makes complete sense um which I'm glad to hear uh with that um the company does pay for schooling but they won't pay for boot camps and you said just kind of approach them um I I guess I would have to figure out who to approach within the company um is if they don't if they would not reimburse it is that something um I know you guys I I about $6,000 of debt right now in credit cards I know D decision would be to go into more debt for more school well first of all let's so what I would tell you to do is pay off your debt uh the the technology qualifications and certifications that's all going to be waiting for you uh you're fine you're young you're on your way you're in with the company you want to be with this gives you a chance now to show them uh the value that you have and go ahead and pay off the debt pay off the debt and then save up the money or cash flow your way through your budget each month and and go get the the the work done because let me tell you something even if they won't pay for it you'll get all that money back and then some yeah I but I I think um I'm going to spend a little time with the folks over in the data side yeah and say I'd really like to be over here I'm about one certification or boot camp away from being valuable to you if you guys will help me with that we're going to be game on yeah and you know it's uh I don't pay for boot camps at Ramsey I do pay for education at Ramsey but if you come into our one of our leaders office with a reason to do something yeah that's going to give you make you more valuable while you're here we will pay for the tool you know I mean we do it all the time and we may be getting hung up too on boot camp I'm using that generally speaking maybe just a certification program just a legitimate program there are legitimate programs that aren't technical boot camps you need to do your research on that do exactly what Dave said but take them options and go this program this program and this program cost this much take this amount of time and I'm want to do it to be on your team would you be willing to help me and I think you're going to be surprised at what you might hear yeah I wouldn't take my first no or a policy decision on that i' be knocking on the door till somebody answered this is the Ramsey [Music] [Music] Show [Music] hey folks you know that sinking feeling when you make an offer on a house you love and then you hear there's another offer you need the Churchill Mortgage home buyer Edge super fast pre-approval and a secured interest rate plus a $5,000 seller guarantee gives your offer the best chance of being accepted the home Buy higher Edge from Churchill gives you an advantage over those other guys go to Churchill mortgage.com today to learn [Music] more Ken Coleman Ramsey personality is my co-host today in the lobby of ramsy Solutions on the debt free stage aby's with us hi Abby how are you hi better than I deserve how are you better than I deserve welcome where do you live Frederick Maryland how fun well thanks for being with us thanks for hanging out how much debt have you paid off $67,900 range of income during that time 44,000 to 68,000 okay and what kind of debt was the 68,000 student loans and a car ah okay cool how old are you 27 I turned 28 in December okay so this journey starts when you're 21 yes tell us about it and how did you get connected to us yeah so back uh in 2011 when I was in high school my parents took FPU and I remember in my bedroom having envelopes on the back of my door where I had to put cash that I would get for allowance and things like that into different categories hardcore exactly I know they're so tough aren't they um but it it invested that principle to me in the beginning and then I went to college and then after college I graduated in 2017 and my parents had been starting to take it more seriously and I was unsure exactly of where all my money was going I knew generally how much I should have or how much I was spending but I didn't really know for sure and I was living at home for a few years years to help pay off my debt um and so that's where it really started I wanted to get rid of it right away and not wait till I was in my 40s and 50s to pay all the stuff off when I was single and um living at home to try to pay off as much as I could so I got started then and really took it seriously I took Financial Peace in 2020 um we had to go virtual in March right when Co started so I took that in 2020 and then I've just been getting after it uh ever since so that's kind of how I got started so a lot of this has been the last three years yeah yeah a big bulk of it has absolutely all right so you go from high school student where your nerdy dad made you have envelopes on the back of the door I love nerdy dad there you go and but then still go get a car loan and a student loan yeah they how's that happen they were they said we were just talking about it before I came on they were like yeah we weren't really taking it seriously until about 2017 2016 so okay so they were a little except for the envelope part they were a little little is I know exctly and then that infected you yes ah okay I'll give you a pass then okay that's cool it all worked out all right and but the end of the story is awesome absolutely very cool so I love that this is a six-year Journey for someone your age you stayed with it you didn't get distracted you know you stayed with it what's the key if you were talking to other people your age and they're going all right I'm graduating with some student loan debt or maybe they got the car whatever it is we have a lot of young people joining the show all the time what would you say to them is the key to maybe your generation sticking with this plan what would you say to him yeah I have two things that come to mind first of all my faith is so big to me and this journey taught me more about God's faithfulness and provision than probably anything else in my life so realizing that it's not my money God actually trusts me with this money and I'm to Steward it well and so if I'm being Reckless that's not being a good Steward so being able to recognize that made it easier for me to be sacrificial and let go of things because it's not mine at the end of the day um but secondly budgeting is just so important like I said I knew previously like vaguely how much money I was spending but once my dad and I put together a little Excel spreadsheet and worked it all out and he got all the formulas for me and everything um that budget really really helps me and I look forward to it every month and I tell all my friends I'm doing my budget this weekend and having to ask my roommates to pay me back money for things so that my budget can be equaled out you know it's it's um it's challenging but it really pays off in the end and being able to say no to things like during Co all of my stimulus checks $1,400 going to a vantage hurt but wow was different than all my other was that all that my friends were doing with their stimulus checks and things like that so I paid during the whole pandemic um so just that self denial of things that you might want right here and now and looking forward to the future so how's it feel to be free it feels great it feels so great with all the student loan stuff coming back and not having a care in the world I'm like not me exactly I'm not signed up for your loser plan yes exactly trying to tell my friends I'm like get on this you can I was just texting someone last night she's making like so much money I'm like you could be debt free in a year just do it it's going to be tough it's going to be hard but just stick with it and you got it so I'm trying to inspire all my friends to get on the TR how are they reacting to the fact that their payments are now due they're stressed people are very stressed I think especially if you weren't paying during the big pause it feels like this big boulder coming at you so they're they're really overwhelmed and I actually think it's a good um thing for right now because my dad and I are actually teaching FPU at my church this spring and I lead a young adults Ministry and so I'm trying to get all of my friends to come and I'm like guys you can get in control of this and once you're in control and you know what's going on your anxiety is going to ease so much so yeah that's a big deal congratulations thank you what do you tell people the key to getting out of debt is um that that's sacrifice being able to deny yourself and it's going to be okay you don't need everything um which is a hard concept to learn um but it teaches you that you know that self-sacrifice and again goes back to my faith that Jesus died for me and denied himself and so I can deny myself you know a new pair of shoes or wanting to go on a trip or something like that for a longer goal that's going to be able to let me bless other people Amen in the long run so yeah well said very well said well congratulations other than mom and dad who was cheering you on um my brother and sister and Emily and then my brother-in-law Scott Scott watches you all the time he and I were going back on the phone last night talking about what's he going to say and he has all your impersonations down pat so um oh my impersonation yeah yeah he does a good job he he really Nails it but so yeah my family and then um my roommates they all know and all my friends really all my friends cheer me on I don't really have too many people telling me that I'm crazy or anything like that so that's good yeah that's good it's one of the reasons you win you got to be careful who you have around you yes you become who you hang around with so well done well done congratulations we're proud of you hero thank you very good job hey we've got the live and give box for you that's the baby steps millionaires Bo book which is your next stop amen for sure The Total Money Makeover book and the Financial Peace University membership and all of that will work to help you in the ministry that you're doing and for you to enjoy as well thank you thanks for making the trip from Maryland you're a fireball you're fun thank you yeah it's been awesome well done good job on the air and man what a great story at uh uh 28 years old right 27 right I wanted to be debt free before I turned 28 27 years old exactly 68,000 paid off in 6 years making 40 to 68 Abby from Maryland count it down let's hear a debt-free scream three 2 1 I'm dead free yeah [Applause] W now what is fascinating about her story if you listen carefully to it and this happens with a lot of debt free call scream people that are in here on the stage we hear this often uh she had a six-year Journey but the majority of it was done in three mhm Y and what was the difference was it the income nope it was her Outlook when she decided mhm I can sacrifice a pair of shoes I can sacrifice this to get control of my life I can sacrifice I can sacrifice I can do I can do needs and wants are different things yeah I can get control of this and once she decided that and then the income came with it too man the last three years it's like yeah boom well there's something powerful to we know this from tons of psychology studies to put a date on something there's something about about 28 years old yeah and that really motivated her you could tell that she she was like I oh I'm not 28 yet Dave cuz I said I was going to be debt free and by Godly she did it and there's something powerful about putting and again life happens so I don't want anybody thinking well it has to be by that date but it certainly helps there's something about seeing the Finish Line we know this about Runners I only ran One race Dave I retired you know cuz you guilted me into One race but I learned one thing having a Mark that you're trying to hit does drive you towards it you you want me to get out the world's smallest violin now where I guilted you into doing something incredible called me but it was actually great for me Le who came alongside you in the last mile when you were struggling I looked like a wounded wde beast in those nature shows and Dave came alongside as I was cramping up and walk got me through but setting a time setting a goal I'm not sure his feet touched the ground The Last Mile I think we carried you I did oh no I actually ran but it was it was all guts and there was no Glory by the way ever none oh bless his heart this is the ramsy [Music] [Applause] show hey folks Dr John deloney here with some great news you get to choose whatever you do good or bad movie forward the choice is yours and when you're intentional about making good choices over time they become Healthy Habits Like choosing to slow down and make time for a daily practice of prayer and meditation one thing that has helped me with a daily practice of meditation and prayer is hallow hallow is the number one Prayer app in the world and they're giving you 3 months free to get started that's 3 months free to prioritize your mental health and be intentional about finding peace through calming music prayers meditation and more and hallow isn't just Catholic you can tailor the content towards your faith tradition if you don't have a faith tradition this is a great place to learn more about it from scripture readings and prayers to journaling hallow makes it easy to practice mindfulness build a deeper more meaningful spiritual life and choose peace remember howow is giving you 90 days free imagine the peaceful habits you can establish in 990 days go to hall.com Ramsey today and follow the simple prompts to start your free 90-day trial that's hall.com [Music] Ramsey [Applause] Ken Coleman Ramsey personality is my co-host today the Ramy show question of the day is sponsored by neighborly your hub for Home Services take your home's efficiency and style to the next level with convenient solutions from shelf Genie window Genie and Glass Doctor download the neighborly app now to find and schedule home service professionals near you today's question comes from Jeffrey in Connecticut what are some good careers to trans transition from being a teacher I'm in my third year teaching and I would quit tomorrow if I could I absolutely adore my students with the district I work for is making life unbearable I thought about transitioning in a few years but at this point I'm at my Breaking Point well first let me let me say sorry Jeffrey I I hear from teachers uh on my show the can show all the time I see it on social media the environment in which our Public School teachers are having to teach is absolutely uh awful in many cases and it is making good men and women like you want to leave a very honorable profession so to ideate here what we want to do is is we want to realize that the reason you want to leave is because you're doing this right thing this thing you love in the wrong place so if you can't stay in actual teaching maybe in a private school environment or maybe in a college environment that might be slightly more uh advantageous to you as far as students wanting to be there then I would be looking at what you do as a teacher what you're good at that's the instructing the planning the communicating the encouraging and and then write down what you love most about those roles and what you're going to do is in this little exercise is create a job description that's written down and you can see it and now when you're out there looking for roles you can begin to match up what you love about teaching what you're good at in teaching and you begin to see that you could go into corporate training you could go into HR work uh you could go into management and Leadership there really is no No Limit if you understand what you're good at as a teacher and what you enjoy doing as a teacher and that becomes the job description and I can tell you this the private sector uh is very welcoming to former teachers because you bring such a great mix of talent and experience to the table and you care about people that's what teaching is about instructing influencing so that someone can transform and grow and so that's what I would be looking for and if you take the education lens off and just look at what you do I think you're going to find a lot of opportunities yeah and I would add uh while you're working towards finding what your work life looks like your volunteer life could be with the youth group at the church and teaching a Sunday school class to teenagers teaching lessons at summer camp to teenagers um and and that might not necessarily be how you earn your living but it might be an outlet for your gift as well um in my 20s I hung out with teenagers all the time yeah um as a matter of fact I went to funeral of one of my friends this weekend that was one of the youth leaders um back then and a lot of the kids that were there that are now of course not kids uh they're they're have children of their own now and that kind of thing they're older than my kids cuz they were in those days and but to seeing that whole group of teens that were that we taught back then and the impact that it's had on their lives hopefully positively but yeah that's uh there there's a lot of ways to use your giftings in this but teaching is um for some reason we have declared that teaching is only occurs in the classroom and teaching occurs a lot of different places um I'm positive that one of my spiritual gifts is teaching I'm a teacher I teach you guys every day here I teach you with books I teach you in curriculum I teach you uh on this show um but convincing you of a new idea teaching you something you didn't know before and so that that's all I am is just another a glorified teacher and so uh it's one of the reasons I get so fired up is if somebody's not learning right that's right that's right so yeah you got a lot of opportunity out there Jeffrey a lot of things you can go to where you don't have to pull put up with the U garbage being shoveled by your District Jane is in Canada hi Jane welcome to the Ramsey Show hello I'm so thrilled to be on your show thank you for having me how are you guys better than I deserve how can we help okay I have a rather complicated um slash sad but uh trying to make the most most of my situation um situation going going on so my husband passed away in August oh no what happened um that's a complication he died of alcoholism he died of therosis I'm sorry um so thank you he he was the bread winner he at one point made a lot of money and we had a beautiful renovated house in Toronto which we which I have sold because I couldn't afford to keep it um so I am left with a chunk of money um I've got two small kids seven and 12 so I'm a single parent I'm a classical pianist um so obviously I don't make a ton of money but you know I'm okay but so I've got about $1.5 million and my question is do I put I live in Toronto downtown where I would really like to stay and I I know that you know I don't have to stay here but my kids I'm trying to minimize their disruption and also my work is downtown so for me to buy a house would be about 1.3 and I could do it in cash but I also know that you're not a fan of my pretty much all of my net worth being in a house so do you think that I should I'm a fan of you not having a house payment right now and Toronto is an excellent real estate market so I'm okay with that I'm probably going to try to change my budget on this house from you know 1.3 to one or something like that let's try to free up a little bit more of this money and downsize the kids the disruption to the kids is going to be a lot more severe if their mom is stressed out because she gets herself in a financial pinch than based on where they live so I'm a lot more concerned with you building a sustainable life mathematically than I am where you live as far as the children's disruption goes they don't know they don't know all they're going to know is what you tell them and believe me you're going tell them a lot without telling them a thing if you get financially stressed so um let let's get down on that budget and free up some more of that money and then also can your career sustain you guys at that point well here's the complication is so I'm renting right now and I know that I've been watching you guys religiously for the last sort of six months that you're in support of me renting shortterm M um in time of stress and transition but not long term right but I don't have my piano with me where I'm making money is I'm at two different conservatories downtown Toronto so I could make more money having my piano which is in storage because I moved from a rather large house to a two-bedroom apartment just to get my bearings yeah that's fine and so when you get a house you get a piano and then you can make money giving lessons I'm guessing or what yes that's Wonder lessons and doing it online my guess with an online lesson program and some inhouse lessons that you might make more doing that than you are um playing in the local Orchestra am I right oh absolutely yeah Y no I mean I have good potential to make quite a good living yeah okay let's set that let's set up that small business idea as a part of this home purchase but still it does not have to be there's no requirement that is 1.3 that's just where you've landed so far so the further down you land on that the better this ideaa is and the more you're not going to like it but that's still the direction I would go I'd try to get down as cheap as I can on the house and still meet these different needs the location the uh size for the piano that makes a lot of sense I think she can do really well with that I think so too and and because of her cred you know she she's not just someone who has a degree she knows people too and so I would really encourage you Jane to maximize the relationship that you have because of what you currently do and they begin to spread the word for you it's really really credible I think you have more business than you'll know what to do with and I think I would be charging premium taking your time as you as you're moving into this new season of life we're really excited for you uh because this is a great opportunity for you to reset and rebuild yep it's good stuff if we can help further you call us anytime I'm so sorry for your loss thanks for calling in Ken Coleman that puts this hour of the Ramsey Show in the book [Music] [Applause] [Music] Dave here you can find all of our shows with the Ramsey Network app on your smartphone it's the only place to listen to the entire back catalog of episodes download the Ramsey Network app in your favorite app store [Music] [Music] today live from the headquarters of ramsy solutions it's the Ramsey show where we help people build wealth do work that they love and create actual amazing relationships I'm Dave Ramsey your host Ken Coleman Ramsey personality number one bestselling author of the book paycheck to purpose is my co-host today as we talk about your career your job your life your money it's all right here the phone number Isle 8825 5225 Anna or Anna is with us in Los Angeles Hi how how are you hello um how are you I'm doing great good how can we help um so I've been working for some time now and um I I thought I I did a okay job for Building up my personal wealth but um I also like um to hear uh your opinion about how I'm doing this far okay how are you doing tell me about it yeah so um I've been in the real estate business um for many years um personally I have four rental properties and the yearly income is about 50,000 given or more or less um the total Mortgage Balance I have about is a a million um and one thing um I don't know what what I was thinking but I did take out a home equity line um the purpose of purchasing other properties um so so far I've been paying it off the highest it was close to 600,000 but based on my calculation that's back in 2019 and I should be able to pay that off completely off um by next year um middle of next year and then you'll still have then you'll still have a million dollars out on the rentals correct yes okay and you make what a year uh that's the wild card so I'm in real estate so that's old you make last year to say last year is about 200 okay all right that's probably your average year right yes okay yeah all right good for you and so what's your plan just stay in that the rest of your life I mean what's your plan so sounds like it because it sounds like you keep buying rentals with more debt yeah and and that's my question although I have these rental properties but I I I always feel I have this piece of rock um in inside of me it's I feel very very heavy yep so it's a million dollar Rock it's right there in your stomach yeah yeah so should I get rid of some of the properties so to get rid of this feeling um I'm not sure what to do I would develop a game plan to have them all paid off within a certain period of time there's nothing panicked here cuz there's no desperate situation but what you're experiencing is you finally are measuring risk and most of us I grew up in the real estate business on so I you know I understand when you get in the real estate business one of the things they do is they take a hammer and they break your risk meter we don't even know how to measure risk once we're in that business CU we just buy crap I mean it's just like we go get a getting a mortgage to buy an investment property is like that's the only way to do it in our minds you can't do it you can't do it otherwise we just people in the real estate business really believe that it's just not true true but we believe it to be true so um but what you're you're starting to feel the weight of the risk that you've taken on that no one in your world talks about but you're starting to feel it and that's what how you ended up talking to us so yeah what are these properties worth total you owe a million on them what are they words total total I would say about five million good for you okay so that's a great Equity position I mean obviously you're in a 20% loan to value ratio which is phenomenal that that's not a big risk position but there is a million dollars worth of problems there so what I would do is say I'm going to pay off that million with my income and with the sale strategically of one or a couple of these properties over the next 5 years okay and it might be you can just sell one of them and be clear and clear the rest of them and that'd be pretty cool and then from there you pay cash for all of your additions to your portfolio you don't use home equity loans ever again you don't borrow again to do that because you've got great cash flow when you have no mortgages and that that's going to be the way to go yeah she's going to be in a really great position out there so now I'm curious Dave so you wouldn't sell why not sell one of the houses and knock it out that way yeah that's what I'm saying I'd pick out one of those proper all right all right and and or the income but I mean if it takes you two years to do this and of a month right that's okay there's nothing on fire but you do want to aim at having a debt-free portfolio and aim at and stick with the promise to yourself that any additions to the portfolio we're doing with cash yeah as soon as we get first and foremost get to debt-free then when we add something later we're going to do that with um you know without borrowing money to do that and folks I understand that the get-rich quick real estate world and borrow all you can on real estate out there is out there it's always been out there and I understand it's real hot again that tick teac has made it really a big thing again and uh you guys get on there and there's all these goobers on there that have no life history that you know they're 14 years old and they're I'm buying houses and I got this figured it's a bunch of crap you don't I mean when I was 22 years old out of college I started buying houses nothing down I bought $4 million worth I had a $1 million net worth by the time I was 24 years old I made $250,000 cash taxable income doing flips in 1984 that's $20,000 a month in 1984 you want to put that in today's dollars that's a half million dollars a year okay now I don't know what neighborhood you grew up in but the neighborhood I grew up in we called that Rich it was fun I was having a blast until I found out about risk and the banks called our notes and we spent the next two and a half years of our life losing everything we owned we were sued we were foreclosed on and with a brand new baby a toddler and a marriage Hanging On by a thread cuz my poor wife thought she had Mar married sir Galahad turns out it was goober and there we were bankrupt and at 28 years old I got the opportunity to start completely over because I followed the exact same crap you people are seeing on Instagram and Tik Tok and you're all walking around acting like you're smart you're not you're straight up freaking stupid quit doing it I walked it and don't tell me you know more listen a man with an experience is not at the mercy of a man with an opinion this is ridiculous you guys I've walked the exact path that some of you are signing up for right now now not her she's got a different situation she's moving away from the debt she's calling about that but this zero down nothing down I'm going to get rich in real estate is absolute bull crap broke people shouldn't buy real estate it makes them broker that's why they call them Brokers this is the ramsy [Music] show [Music] yeah [Music] Ken Coleman Ramsey personality is my co-host today our Ramy show annual listener survey is now live we want to know your favorite parts of the show what you like what you don't like what you want to hear more about uh whatever it is we want to hear from you two ways to participate you can text survey to 33 789 or you can go to ramseys solutions.com survey and fill out the survey either way if you sign up you're going to be entered to win a $500 gift card ter is with us in Pennsylvania hi Taran welcome to the ramsy show hi hi um so I recently got my b or my Master's Degree I got it last year um I'm in the field of education and a position had opened up at my current job um that's in my area of expertise so I had applied for it I interviewed and I found out that they want me for the job however um they had to clear with my b my supervisor supervisor before I was allowed to transfer um and my supervisor waited um about a week before answering and said that I could go but not for over three months um and so I'm kind of torn because I you know I'm thankful that he said yes I could transfer um but it's also just seems like an excessive time to keep me um and so re is um I'm in I teach special ed so it's kind of hard to find people um so I assume that's it um but you know I mean the end of January that's seems like just a long time to hold someone so I guess I'm just it does wondering it's not a long time three months good no how old are you Taran uh I'm 27 yeah so I was 27 long time ago and a long yeah I knew that was coming but and and the reason I said that Terry is because this is not a judgment on you three months is a really long time for 27 year old but for old guys like us I'm here to tell you that three months is not a long time and they really are probably in a crunch but instead of children you take care of have to have someone to take care of them if you're leaving right they have to line that up and those people are hard to find is that not true it is true we have a lot of new people coming um but I guess with that um yeah you were getting to a question that they're kind of debating whether or not they are going to go with me or go with someone else because of the time frame um they're kind of like not in a hurry but they would like to get someone to fill the position shortly so okay so all within the same district though right yeah yeah it's at a cyber school so it's all within the same company yeah so they should be able to go one part of the company is willing to release some of their talent to go to the other part of the company as soon as they're able to do a back fill so we will wait until the back fill comes in we do that inside of Ramsey all the time but if we want to if you want to move inside of here we don't move you until we have your workload covered M but we don't also don't fill the position out from under you we'll say you can go over there as quick as we get somebody hired to take what you're doing you know what I'm saying and if you can get that Assurance then you shouldn't have any issue with this agreed yes yes if I if I know they're willing to wait I guess that's one thing no I mean you're hired you're hired for the new position as soon as your backfill comes in if you can get that Pro if you can get that promise three months is reasonable yeah so you're not so what are you wrestling with if she can't get that promise should she stay so yeah and I guess because we're also um like my husband and I were in baby step to we're hoping to start homeschooling our sons so I'm like oh you know if I if I don't get this position because it really is my dream job if they're not willing to wait um I would like to leave the company um because I just don't and I don't know if that's a crazy idea too but if I don't get that job well it's not about it's not about crazy it's about you and your husband talking about if that's a viable option with you being in baby step two that's a pretty big hit you're just going to quit and I I just wouldn't I wouldn't if it were me I'd say wait a second I want to try to maneuver this thing I I think you've got to sit down with the the uh the new opportunity and say hey I need to know I know that my supervisor has cleared this but with a three-month wait are you guys willing to do what Dave said and say all right we're signing on the bottom line it's your position and quick as quick as we can get a Back Field I'll be over there because that's reasonable it is reasonable it's also reasonable for the people moving that you're moving to to wait and not damage their own company MH but I wouldn't quit how big of a hit would it be if you go home and and and homeschool and you're not making money how much yeah I mean it would be I mean before tax like $65,000 I would not recommend that I would not recommend that they haven't done anything wrong yeah there's not an Ethics breakdown here and they're not a horrible people or a horrible company uh they do need to give you some clarity I don't disagree with you on that I'd get I'd like for them to give you the lock down on the position but but I if they won't give you that Clarity they still haven't done anything wrong they're sloppy is all and if you want to work somewhere else that's fine um but you might jump from there to a place that's totally toxic you know that could happen real easy yeah happens because this is not what you're describing is not unreasonable or toxic in any stretch of the imagination now if they lie to you cheat you hold you back artificially with no solid reason we're just screwing around with you because we just can that's toxic but this is saying hey we got to fill this position these little kids need a teacher and if Taran steps out we got a big hole over here these children are not going to be taken care of that's very reasonable yeah as a matter of fact it's responsible um it's not saying I'm going to politically hold you back it's saying hey yeah you can go as soon as we get your work covered and then the other play The Other Side the place you be going needs to give you the clarity and say all right the position jurors as soon as they can get the back fill over at the other place we we'll we'll bring you over but and we're you know we we understand the time Horizon might be as much as 3 months we've done that here Ken and sometimes it's even been more than 3 months that's right I mean that's the reality of workflow and you have to understand that you have to be patient I know it's hard my goodness it's it's hard to be patient at 37 47 or 57 uh certainly 27 but we've got to keep our eye on the big picture and here's the other thing I just want to mention very briefly because I if we see an opportunity like this and it looks like it's right there but then there's a hurdle there's reality sets in and and if for some reason she doesn't get this we shouldn't hang up hang up the cleats we shouldn't just say we're done we're out we're we're not going to play anymore uh because take my toys and go home yeah because it it represents the dream job but it's not the only dream job that's the key the dream job is already a bit of a unicor corn for a lot of people that's why I've actually stopped using the phrase a lot because I think for some people they think well it's the playing in the NFL or something something that's not realistic it's not the dream job feels like a dream because you're spending most of your day using what you do best to do something you really enjoy to produce results that you care deeply about that is really a dream for most people because the alternative to that is a nightmare if you do it too long and so don't get hung up on that was the dream job that can really devastate you and knock a lot of people off that path and and I would really caution all of our audience on this to say okay it looks it smells it feels like it but if it's not it that's okay don't think no think not yet not here and keep moving forward and that's what I'd want her attitude to be if this doesn't work out yeah um by the way dream job is what you said it's doing things you love with the gifts you have that's right to accomplish something and see traction yes in something you're passionate and care about that's right you know I've got the dream job that doesn't mean that last week didn't suck right right you have some of those days last week kind of sucked you know and it was a long week and I'm really thankful I don't have last week anymore I'm glad it's gone glad I'm glad I've gotten next week instead but but this idea that you know every you know like you're not going to run into conflict in your dream job of course you're going to run into conflict in your dream job you're not going to run into uh crappy people while you're doing your dreams oh yes you can be assured that if you run into people you're going to run into some crappy ones just count on it you know I mean you can you none of this is going to get easy just because it's your dream job like you don't it's all rainbows and Skittles or something it's just that that's just crap it doesn't work that way boys and girls this is the Ramsey [Music] Show [Music] [Applause] [Music] [Applause] [Music] [Music] I [Music] Ken Coleman Ramsey personality is my co-host today in the lobby of Ramsey Solutions on the debt free stage Andrew and Emily are with us hey guys how are you hey good how are you better than I deserve where do you guys live Weatherford Texas all right welcome to Nashville how much debt have you paid off so we paid off 55,000 good for you and how long did this Take 6 months 6 months and your range of income come during that time we started at 1:10 and finished at 1:30 cool what do youall do for a living I'm a financial adviser mhm and I work as a pediatric nurse very good good for you great careers how long y'all been married one year okay so right after marriage you look up and you got 55,000 what kind of debt two cars and student loans all right and you start off with a burden here and you say all right we're clearing this and we're clearing it fast tell me the story what happened how'd you get turned on to us so I've known about all for a while and um we had been talking about this for kind of what we wanted to do and I started reading The Total Money Makeover and was It was kind of firing me up and then uh we celebrated her birthday on December 14th and I pretty much came home and was like let's pay off the car and after that it was like what else can we pay off what can we switch around in our budget to make it work for us and I think that's kind of where it all started for US ah so you got the financial gas state I think I'm just impatient very impatient good I like it got we're gonna actually do this stuff you're reading about yeah good very cool I got to know Dave was the new The Newlywed groom did you figure out I should probably make her happy with this or did you push back a little bit or were you all in what was going on when she came home with this idea well it's pretty hard to once she has her mind set to something it's pretty hard to get her off and so we had been talking about like hey what are we going to do with this and then she said hey I want to pay off my car and then right after that I said hey I've got a truck a nice Chevy Silverado I think I think we probably should sell it and that can knock off a lot and you sold your truck we sold dream truck Texas Texas oh wow that's not that's not that that's real yes sir sold it to buy a car too yeah and people I bet you had people saying you have lost your mind yes sir very much so yeah wow how much was the truck it was the balance when we sold it was about 27,000 so was half of this debt yes sir and then um we rolled that into and then the Ultimo was what we bought and we we did not pay for it fully we ended up that became a new part and so uh the next thing was her student loans and then the car was last and so we took it from Total Money Makeover try to get fun creative so we created a whiteboard it had the total amount how much we had paid and then um every time we paid something off we would play the song Jump Around from House of Pain yes and it's one of Dave's favorite songs yeah we would just like blast it through the house and like just Just Dance like just yeah why not got to knock out another one I love it dance party I love it that's fun good job you guys thank you okay so you're married a year and you're debt free how's it feel pretty good pretty good you sold the truck yes sir was it worth it it was worth it 100% buy the truck later you'll get another tree right that's what I exactly you're going to get another one later and another one and another one and another one yes sir it's not like you're only going to own one truck in your life I mean come on wow that's awesome guys way to go all right young married couples out there listening they're going how did they do that well they sold the truck as part of it how they pay off $55 in debt what do you tell them the secret to getting out of debt is um I would say accountability and just staying to it even though you're like man I'm losing my truck and may not be able to do all the things that other married couples are going to do just sticking with it now you can now you can do anything right yes sir yeah I'm curious you guys you're newly wed this is exciting so what are you dreaming about now that you're debt free like how what's the mindset looking forward the rest of your life we're on baby step 3A right now okay and then maybe step 3B would be next so we uh the next step is definitely to buy a house okay um and so that's where we're looking for short short term and then longterm whatever the Lord has in store for us we don't really know yeah and and how old are you too I love it good wow you're in such good shape you're going to be you're going to be so stinking Rich it's unbelievable the math on things when you're 24 guys it's just oh it's awesome yeah I got to ask you guys this what's your what are you aiming for for that first time home what price range oh at this rate we have a really tiny um rent home which is perfect but at this I think we can make any home a home so I good for you meaning you're not going to get locked into something over your skis there you guys are going to be smart about this yes sir that's great love that yeah wow that's the big draw for a lot of young couples they want to get that really nice house like Mom and Dad had grown up they're like no no no you know I was listening to a guy the other day and he said the secret to Building Wealth is marrying well mhm I mean you could marry a princess who demands an Instagram house yes or you can marry Emily who says I can make a home anywhere yeah I thought the same thing Dave that's that's that's a freaking home run that's awesome by the way Andrew I mean I'm sure a lot of people have told you you clearly outm married yourself and that's a good thing that's a compliment you know we're glad she has poor judgment and and so that's you have done well sir no question about it that's what I say about my wife that's not personal yes sir it's very true well done very well done I'm proud of y'all thank you and who was cheering you on out there well we had a lot of people supporting us um it was kind of it was a good amount of people I mean family friends um it was always interesting when we would tell people what we were doing uh just the reactions were varied most people knew about y'all some people didn't but they were like wow good for y'all um and so it was just a good community of supporters yeah they walk away Shake in their head he sold his truck he sold his truck there was a lot of that there a lot of that he sold his truck oh my God as if you're never going to get another truck I mean you're going to be so rich you can have five trucks I mean who cares you know unbelievable not really Emily he won't do that no actually they'll be wealthy enough they can get five trucks it won't matter honestly I mean I mean you want me the math is like 4050 million bucks I mean it's just like crazy that's true yeah way to go y'all way to go we're proud of you I can tell you that and we know that the sacrifice you made is temporary although painful and you got there and now you get to go anywhere you want to go talk about buying a house talk about the next steps very very cool stuff we've got the live and give box for you it's got the baby steps millionaires book in it for sure you'll be in one of those and uh The Total Money Makeover book to give away to one of your friends that this is how I did this I just did this right here and the Financial Peace University membership as well enjoy them give them whatever you need to do that's what they're they there our gift to you guys to say uh congratulations and thanks for coming to Nashville to do your debt-free scream all the way from Fort Worth Texas Andrew and Emily wow 55,000 paid off in six months making 110 to 130 count it down let's hear a debt-free scream right quick go rangers three 2 one we're dead free yeah [Applause] w wow hey that's a power couple right there yep 24 power couple looking for a place to happen is't that true it's extraordinary to see young couples committing early on first 6 months of their marriage they're like okay we're getting after it most powerful wealth building tool that allows you to get out of debt and build wealth and be unreasonably generous is contentment contentment allows you to sell your truck when everyone thinks you're crazy contentment says I can make a home in anything these are the these are the verbs the words that people use when they're functioning in contentment godliness with contentment is great gain yeah and that's definitely what they're walking in and you know that's a decision it's a decision where I place my values am I defined by where I live what I drive if I'm not then suddenly I'm what's called content I can get nice things and I can not get nice things but either one's fine and and it works works out either way and that's that's the beauty of where they are and the irony is it's the key that's going to make them extremely wealthy yeah and put them in a position to be outrageously generous and help people everywhere around them they're going to be they're an amazing couple just amazing and congrats parents I'm sure they're watching and listening both sides dad both of you y all crushed it that's a great great couple yeah just slam dunk this is the Ramsey [Music] Show [Music] [Music] our scripture of the Day Psalms 1282 you will eat the fruit of your labor blessings and prosperity will be yours Claude McDonald said if hard work is the key to success most people would rather pick the lock and that's the truth Katie is with us in Concord New Hampshire hi Katie welcome to the ramsy show hi oh God this is actually happening okay breathe Katie it's gonna be good holy moly what's up how can we help overwhelmed with gratitude this is crazy okay um first I need to thank you for um everything thank you how can we help um so okay Dave you have to promise not to yell at me um my boyfriend and I have combined it all of our debt and our bank accounts and we are um gelle intense on um our debt um we have about uh $89,000 left um we have smashed out all the credit cards there's no more credit card debt which is very freeing um so now we're working on student loan and Auto Loan um but my question is um my my family and I have recently joined a church that um you know my children and I were baptized in and um every month you know uh we have our budget meeting you know and um I'm the planner and he gets to change my plan which I don't really like very much but um my question is every month after month after month um the church column um is a bunch of zeros because um I feel like I don't really have anything to give um and I just I want to be able to give um the 10% of her income is when are you getting married ask him um I've actually had this conversation with him um I've actually been married twice before um so in his dating we've been dating for over a year okay if you're if you're willing to completely combine your finances you should never do that unless you're married and then you should do it immediately but this is very dangerous for you very vulnerable yeah yeah so um if either take your finances back aart or get married what was his response when you brought it up to him marriage um so we we talk about it we we want to get married his thing is like he wants to be able to provide picture perfect for me um sorry that's not an option yeah there's no such thing I got a hunch here real quick Katie what does what does he make income wise and what do you make separate those um okay so I make um one two three like 4,000 in a month okay give or take okay what does he and he makes about uh 55 okay 100 roughly okay and I actually have more debt than he does okay well number one let's just back up back the bus up here either get married in the next 30 days or separate your finances yeah this is very dangerous for you I'm scared for you okay you should not be paying his debt he should not be paying your debt when you're not married you are going to get it's going to put a strain on the relationship something's going to blow up and one of you is going to get left in an unfair disadvantage due to this broken system that you should not be using I'm not yelling at you I just want good for you I love you I want you to win then the then once you've made the decision to either separate your finances or combine them because you're getting married immediately not next year okay um then I mean this is not something you need to plan for two years paint or get off the ladder and then um then then once you decide all that then we can come to your question how do we put you've just started attending church you how do you put Church in the budget well you don't put Church in the budget you put God in generosity in the budget and for those of us that are Evangelical Christians the first stage of Baseline generosity is a tenth of our income going to the local church but that is an act of worship that's an act of of not trying to buy God's favor he he doesn't need your money he says to do this because he wants to turn you into a generous person because generous people are much better children and you and I are better children of God when we are generous and so so he's trying to turn us into that and that's what the tithe was established for it's not established as a rule it's not established as a shaming mechanism by religious zealots it's established as a method of teaching us the power of generosity when it's a regular rhythm in our lives and so were I you I would live on 90% of my income and be giving a tenth of my income to my local church if I'm a person of Faith that's not a condemnation but it's what I have done for 40 years and it's worked really really well for me and there's no guarantee you're not going to have bad times there's no guarantee of anything it's just an act of generosity and it's teaching us the rhythm of generosity a baseline start and I was in a church when I was going bankrupt Katie in my 20s as a baby Christian and um there were people there that would say things like well you know God protects you if you tith then I went uh missed that part went bankrupt I missed that well and then I had one old blue-haired lady say well you just didn't have enough faith and I said honey I didn't have anything left but Faith they took everything else MH so I mean come on yeah so uh broken Doctrine broken theology uh but and so you can get twisted up in all that toxic garbage or you can just say hey I'm going to live life with an open hand and I'm going to be a generous person because generous people smile more generous people are less often depressed generous people are better at relationships because who wants to be in a relationship with a selfish person no one right and so the act of generosity is a becomes a character quality and it changes your whole life and so yeah I'm going to put that at the top of my list of things to do absolutely but not as a legalism rule yeah absolutely right that is really scary Doctrine and it's what drives a lot of people people away from the faith if you think you got to give God money to get something good from him that is that is a recipe for frustration and Desperation yeah as if he needs his your permission to bless you right you know and and as if his Blessing is dependent upon you giving him a nickel good gracious as he if he wanted your money he'd take it to a big greasy spot where you were sitting I mean he's God I mean come on you going need your money that's not the point the point and and so don't be shamed by it Katie and don't be going because I heard the guilt oh every month I feel bad cuz there's nothing in the church column well I mean put something in there but don't do it out of Shame do it out of hey I want to learn a different way of living that includes generosity and it includes a smile and it includes being married to this guy you fallen in love with and combining your whole life not just your money and uh let's do the whole deal let's go game on but don't pay someone's debts ever and don't let someone pay your debts that you're not married to you're going to get yourself in a pinch been doing this a long time and I never see good of it it ends as delone says all the time this ends in Ash o that's a pretty harsh statement but it does it just the thing thing Burns to the ground so I I want you to win kiddo we love you and I'm happy that you're and your family are in a good church and it sounds like you're starting your journey there um and or resetting your journey there that's awesome any of that I'm cheering you on Ken's cheering you on we want you to win um and um no we're not yelling at you that's not what we do um we we yell at Concepts not people but um yeah don't you know those of you that are shacking up and aren't getting married you can do that if you want to do it I won't be mad at you I'm not going to yell at you um but don't combine your money don't combine your money cuz you're going to get burned don't buy a house for somebody you're not married to you're going to get burned I get it all the time in here it's all the time and you just setting yourself up you make dumb decisions like that you get yourself burned we don't want that for you that puts us hour of the Ramsey Show in the books we'll be back with you before you know it in the meantime remember there's ultimately only one way to financial peace and that's to walk daily with the Prince of Peace Christ [Music] Jesus hey it's Ken if you like what you heard in this episode and want to know more about getting started on the ramsy baby steps go to Ramsey solutions.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 Ramy solutions.com and click get [Music] started

Channel: The Ramsey Show

Views: 105,993

Keywords: dave ramsay live, dave ramsey, dave ramsey channel, dave ramsey live, dave ramsey live show, dave ramsey live stream, dave ramsey podcast, dave ramsey radio show, dave ramsey show, dave ramsey show full show, dave ramsey show live, ramsey, ramsey solutions, the dave ramsey show, the dave ramsey show live, the ramsey show full episodes, the ramsey show

Id: XWEqrjQg9Ec

Length: 124min 55sec (7495 seconds)

Published: Mon Oct 23 2023