I Have Too Many Bills Each Month

Joe's with us in Joplin Missouri Hey Joe how are you okay Dave are you done better than I deserve sir how can I help alright pretty much a new listen listen very long but and I'm like when I'm hearing and he got me motivated I about your books yesterday the workbook and the did be at varied of our app and the problem isn't hundred dollars in the hole when I do all the budgeting and that's not what saving or anything and I I don't know what to do doesn't know where to start I got three vehicle payment which is done but and I'm just okay Co on these cars each ten thousand three hundred and the motor blue when I bought it and I got different mounts or four or forty five hundred my product I owe nine thousand on it [Music] harley-davidson 11:5 on it and what other debts have you got not counting these car debts I've got about eight thousand medical bills I've got a stupid title long on a vehicle that's cheap me a card out that's paid for let my son drives sometimes furniture was just a title womb a thousand dollars okay [Music] furniture loan beds loan how much a bed loan is a thousand furniture loan as a thousand right around it overrides in about four thousand dollars and [Music] again I mean are we pay for my kids lunch stuff anymore miss I'm you know I don't know whether to gotcha what's your household income before taxes I make fifty five my wife's 20 so about seventy five before everything comes out okay all right cool are you putting any money into retirement I splitting 5% in and I'm not going down to 1% to give me a little more money yeah how big was your tax return last year eight thousand eight thousand okay no all right cool okay fun and how much do you own your home I rant okay good all right so here and you're what 45 years old 38 38 okay that's about the right and run zone what I was gonna guess so good good three kids that I'm still down here here's what you've been doing you you work your butt off and you pay no attention to money and it has been whipping your butt for 15 years I agree and consequently you get a pinch and you do something stupid then you're getting another pinch and do something else stupid and then the stupid piles up and you you just get you're just trying to make it hand the mouth that's thank God it's Friday oh god it's Monday exactly been there myself brother that's how I can tell you're hard-working guy but you've not been paying attention to the money part and it's kicking your butt so we're going to turn that around the day all right here's a couple things we're gonna do immediately today you stop all contributions to your retirement today and you go in and you change your w-4 at the at your payroll withholding because you have way too much being withheld when you get an $8,000 refund what that really means is that somewhere around five somewhere around $600 a month too much is coming out of your check right okay and they take too much out and then they give it back to you in April Santa Claus does not live in Washington DC that money that you got back was your money that you gave them too much of you follow me yes sir so changer withholding by six hundred dollars a month more coming home that's going to mean this year you'll still get a refund because you've already still done it for this year but next year you hopefully won't get a refund because all a refund is is a return of too much money paid in that's a savings account with no interest and you don't need a savings account with no interest right now you need money exactly okay so six hundred bucks a month coming home more plus we're gonna not have the 401k coming home and that money's gonna don't go in so that's all going to come home starting right now a hundred percent of it to stop everything if you've got any gimmicks insurance like cancer insurance all those little stuff stop all of that the only thing you need is just straight health insurance that's all you need it work straight health insurance and if there's a long term disability you might look at that okay and then we're gonna start looking at what we can sell like the Harley may be the kid car and we're gonna live food first shelter second lights and water third car payments fourth and we're gonna get on beans and rice around this place and get this budget balanced and pick up extra work and have a big garage sale and sell everything in sight and start turning this around but when you can start paying attention to this and you get this budget balanced and you get on a mission to get rid of this debt you can turn it hold on I'm gonna put you guys into Financial Peace University our nine week class I want you to turn this you call me back and tell me you did it hey guys thanks for watching if you enjoyed this video click the subscribe button to get the latest content and check out these other great clips from the show you [Applause] [Music]

Channel: The Dave Ramsey Show

Views: 204,214

Rating: 4.8850141 out of 5

Keywords: too many bills dave ramsey, I Have Too Many Bills Each Month, ramsey, bills, money, Can't Pay My Bills, show, dave ramsey, dave, personal finance, credit, dave ramsey show, dave ramsey live, ramsey solutions, debt, credit card

Id: BaJB7YEmZ9Q

Length: 6min 15sec (375 seconds)

Published: Sun Nov 26 2017