Spend Like No One Else, So Later You Can Spend Like No One Else!

[Music] this is the ramsay show [Applause] you can be intentional about your character you can have money and a career you are the hero in your story [Music] live from the headquarters of ramsey solutions broadcasting from the dollar car rental studios it's the ramsey show where debt is dumb cash is king and the paid off home mortgage has taken the place of the bmw as the status symbol of choice dr john deloney ramsey personality best-selling author is my co-host today as we take your questions about your life and about your money thank you for joining us open phones at triple eight eight two five five two two five that's triple eight eight two five five two two five wayne is in san antonio hi wayne welcome to the ramsey show hey dave hello john how's it going man going well what's up how can we help well question uh we've got a 12 year old contracting business here in central texas and i'm 58 years old and due to the past year and a half with covet and then we had five very extremely difficult talent stretching projects just right in a row and i'm tired ready to give up the fight my my two problems that we're facing is that one my business isn't sellable uh without me and the the second is that our son a 22 year old wants the business but i'm just not seeing the tools in this toolbox right now you know and my plan is is to in the next four years i want to start stepping out and we'll do mentoring and teaching and uh guiding as needed and then you know eight years boy i'd kind of like to be gone out of here but uh like i said i'm just not seeing the tools in the in the toolbox for our son yet and i'm tired so you're you're and i understand you say that you have eight years to develop him in your mind yeah so he would be 30. he would be and you'd be 66 yep and that would be it'd be a gradual phasing between now and then um uh with the final handoff of the baton at that point okay yeah somewhere in that 66 to 70 somewhere in there okay well we do know he has one major tool desire he does okay and you can work a lot with desire as you know trying to light wet wood is hard yes it is what what tools do you think he's lacking he doesn't have the business acumen he's 22. he is he doesn't even have hygiene acumen at 22. he doesn't have dating acumen he doesn't have hairdo acumen he doesn't have a lot of acumens he can't drive probably right can i tell you i hear two different problems here i hear one you're looking at a 22 year old and it's hard for us to remember all of us being 22 and the difference between 22 year old john and 30 year old john is is it's i mean that's those are two completely different humans thankfully and it sounds like you're gonna have to mentor you're gonna be tired mentoring and teaching your son and you're gonna have to be letting go i'm watching dave do this here and it's just something to behold watching somebody transition their business while the car is still driving down the road but the second thing is you mentioned this several times you're tired and turning the turning looking down a decade from now and and worrying about that problem right this minute when you've just gone back to back to back to back to back on some major problems man you're you're catastrophizing a situation that i don't think has to be catastrophized because your body's cooked right now and is there some ways you can get yourself some peace now do to be intentional about a break about some rest about some rejuvenation some redeveloping your mission and then get back in the game and then begin a decade-long training of your son it's the it's the lombardi quote fatigue makes cowards of us all right you sound exhausted man it is i mean it's been a long road okay so here's the thing there's only one thing from your son's perspective that would absolutely there's two things it would absolutely disqualify him from this process okay and i don't think you're saying either one of those things but i'll just put them out there number one he's a person lacking in character he's a little twerp and he's not going to get any better he's has no integrity he's a jerk nobody wants to be around him nobody wants to mess with him i don't either that's not what you said i don't that that's not the like tool okay the second thing is if you honestly believe he does not simply have enough intelligence to learn and i don't think you're saying that i think what you're whining about and it's a fair whine by the way is the distance between where you are and where you got to get to and that eight years is going to require a lot of dead gum work and you're tired but i think i think he can get there i didn't hear anything disqualifying him because whatever tools he needs business acumen you can be taught in eight freaking years if you have business acumen you can teach someone business that's a medical degree right you can teach them okay i think you've got an identity challenge here because i think you have wrapped you have worked real real hard to build a construction company in central texas and now you are the guy that some of the people in your community go to for big projects and you've got a great identity in the idea of trying to land that plane where you're not a a pilot anymore that's not that gets in your heart right so i i think you can do it and i know you can't i and and i think he can do it too i didn't hear any disqualifiers in here yet um now i would put on the table that you know here's some clips you need some clarity if you're going to engage in this process i would put on the table and and i've done this with the ramsey children that work here right and even uh my daughters uh husband winston works here right runs all of our real estate um you don't get a pass because of your name as a matter of fact you have to bring it almost double just to be respected because of your name and so you know i'm going to line up and teach you this stuff and hand you this thing but your part in it is you got to bring it you got to be game on you got to be super responsible you got to be super sensitive you got to be thinking about every word that comes out of your mouth because everybody is watching you and to be respected you're going to have to do 2x of everything and he's got to say i'ma bite on that apple i'm doing it so like rachel's selling books at the back table at a seminar at 14 years old that's the speech she got you don't get to put his kick back put your feet up play pokemon or something back here in the back you get your butt up to the table belly up and you sell books take money and smile and tell those people you love them that are walking up because you do and by god you don't do that i mean you're going to have a problem later you got to bring it 2x that's teaching business acumen and customer service and and respect and i'd love you to be a dad who recognizes the blessing that for the next eight years you're going to have breakfast coming so far every morning i mean every once a week with your son every ev every week for the next eight years i was in a two-hour strategy session with my son and his top leadership team this morning and we got to play business together cool it was so freaking fun what a gift that is someday i'm going to miss that yeah it was really fun this is the ramsey chat [Music] so [Music] hey folks i got a great option to help you pay for your education the army national guard the army national guard believes you are the next greatest generation because you have proven that even in adversity that you have what it takes to succeed that's why they offer benefits like tuition assistance career training and a paycheck to help you avoid debt no matter what your goals are the army national guard can help you get there visit nationalguard.com to find out more [Music] [Applause] [Music] dr john dolone ramsey personality is my co-host today open phone's a triple eight eight two five five two two five auto insurance companies love to play the game where they see just how high they can jack up your rates see how long before you catch on it's kind of a game but it's a game you lose every time and so what i do is i shop them and i use our endorsed local providers independent insurance agents to shop for the best coverage free of charge across a bunch of different companies and they'll do that as many times as they need to until they get the one that's right for you which would include for me i want a deal right i want a better price so uh text the word auto to 33 789 text auto to 33789 and get a trusted endorsed local provider ramsey trusted that would mean we endorse them at ramsey they're local and they provide you with help and that's the best of all worlds right there our question today comes from blinds.com find out for yourself why blinds.com is the number one online retailer of custom window coverings free samples free shipping new promos all the time you'll save even more use the promo code ramsey get the best possible deal all right today's question comes from cindy in virginia cindy writes as a naive widow i fell in love with a man that took over my finances over the past six years i've lost my home my car my boat and my bank account he's from canada and i'm his fourth victim i've been going to therapy speaking with domestic violence groups but i've lost the support of family and friends how do i get out of this mess well there's a couple things here number one the way you pose this question distances you from what happened and so as a naive widow i fell in love with a man that took over my finances i would prefer you to reframe that and say i fell in love with the man who robbed me you've got to take ownership of this of the situation you are in if you continue to cast yourself at sea with no boat no life raft no ability to swim you're never gonna be able to wrap your head around um walking on dry land and and um walking towards solutions here so i want you to take ownership you fell in love with the guy you gave him all of your finances and he robbed you and you've got to grieve the fact that you did that you participated in this and then somebody took something big from you and going to therapy great going domestically including your confidence yeah he took every yeah he took your ability to trust yourself he stole everything from you right um but you did play a role in that and then if you have lost the support of family and friends then you need to be about finding new community i'd want to know why you lost family and friends and we need to have that conversation in this email explains why that's right my guess is you play a part in that too um if the people who love you and are around you all of a sudden abandon you i always want to well they came up and said this guy's a freaking crook and you kept playing crook and you lost everything right and then they said we told you not to do that and then you got upset and you were mad at them because they told you and they had to create boundaries to protect themselves right that's that's a guess yeah right so i want you to call your family write them a letter tell you i'm sorry i'm heartbroken i miss you i'd love to repair a relationship and then you've got to be able to find other people because if they've left you've still got to have people in your life but this whole thing in my eyes dave starts with ownership taking ownership of where you are what happened and your role in getting help healthy and healing next there is um it's not victim shaming no to say that when i am a victim that there is at least some part that i played in that right okay there's an old book called con man or saint that was out it's about a guy that went to jail for running a pyramid scheme down in florida and ripping all these people off i read the book when i was like 18 years old i was going around the motivational movement at the time he had come out of jail he was speaking and trying to say he was a saint i don't really think he was honestly but it's an ancient i mean it's 40 years ago but the only thing i remember from the book was the title and i only remember the guy's name but he said it's very difficult to con people unless they are greedy hmm because they are trying to get something for nothing and then you can set them up gotcha and uh so they play a part in it when they get conned in other words okay and so and i liken it back to when i lost everything um and went bankrupt okay so what happened was the bank got sold to another bank because the laws changed allowing that and suddenly the banker that i was working with that i had trusted and done all of my deals with and i had never been laid on a payment got fired and some guy in another city looks down and says there's a kid 26 years old owes us millions of dollars in tennessee we need to limit this relationship which is banker talk for screw him and run him out of business so the mean old banks took dave out the irs changed the laws and ronald reagan changed the irs laws and screwed up the s l business about that time ronald reagan's fault that the snl business went down i'm a ronald reagan fan but he screwed that business up bad put basically put him out of business what's the snl business it was savings and loans okay yeah yeah okay and so uh that and the changes in the depreciation schedules at that time that reagan did to cause the economy to recover in his mind but he did it unilaterally and uh back uh you know before and he screwed up real estate values in the instantaneously and so all of these outside variables that i had no control over came crashing in on a 26 year old kid and the banks called our notes and that precipitated over two and a half years just losing everything we own very easy and i did for a while sit around and whined and blamed everybody else it's ronald reagan's fault the irs's fault it's the uh the bankers the banker's fault and they all three did horrendous things that affected me negatively but guess what it wouldn't have affected me if i hadn't signed up for a trip that i got to take gotcha that house of cards i built was vulnerable that business model i built borrowing up to my eyeballs was vulnerable and i i didn't know it i didn't understand it but it doesn't matter you don't get a pass on the law of gravity just because you don't understand it jump off a building it kicks in either way gotcha and so i i reached a point thou sitting in whining and a friend of mine said what you just now said he said you know you can whine about this the rest of your life and you'll just be that guy or you can take all these lemons and make some lemonade because guess what you signed up for a trip you got to take you got the crap beat out of you but you went in the ring with people and they beat the snot out of you you didn't have to go in the ring gotcha and i went my fault yeah so i quit saying the banks put me out of business i started saying i signed up for a trip i got to take and it changed everything in my heart it it gives you it it's like being in the ocean and you suddenly find yourself out and it's too deep and you're kicking your legs kicking your legs you're kicking your legs and then there's that moment when your feet finally touch the sand yeah and you just can go okay i'm here right and if this woman if if cindy from virginia was here i would hug her and weep with her yes yes this guy stole everything yeah yeah this guy's a scumbag well these bankers were scumbags that i dealt with right and and they paid for it because i beat on them for the last 30 years on the radio so you got a widow here who somebody said i love you and you're not it was a con man oh and she was all in and she went and then she gave her checkbook to him and then she gave her boat keys to him then she and then when he misbehaved she didn't act out on it she let it go and something felt bad and her family told her and her friends told her she did it she kept going she kept going so the person that she feels most violated here is cindy yeah right that's exactly what i was she's looking in the mirror and going oh i don't trust cindy because i had to look in the mirror and i the biggest problem i had was this arrogant cocky young guy now suddenly had no confidence yeah i don't know those are uncharted waters for most i had never been there right i'd never been where i didn't know all the answers yeah right yeah oh man but it's so cinders the point is that's where healing begins exactly exactly healing begins when you take responsibility not for the whole thing and not inappropriately and saying this guy really wasn't a con man i'm just an idiot no that's not what we're saying at all but you say i'm going to take ownership of my part in this because i did something that left me open to this right to some degree yeah my part in it that i'm not a victim now there's part of it you are a victim a big time but there's part of you take your own the only thing you can control is your part that's it and then once you take that that's where healing starts it's powerful take those lemonades baby make some lemon we're with you take those lemons make some lemonades let's say it backwards there you go oh well this is the ramsay [Music] [Applause] [Music] show [Music] [Applause] [Music] so [Applause] stop paying your overpriced wireless provider and switch to puretalk they use the same network as the larger providers for much less for just 30 a month get unlimited talk text and six gigs of data with no contract the average family saves over 70 a month by switching to pure top just go to feartalk.com and enter the promo code ramsey to save 50 off your first month pure talk simply smarter wireless [Music] [Applause] [Music] in the lobby of ramsey solutions on the debt-free stage stephen and tristan are with us hey guys how are you good how are you good better than we deserve where do y'all live st louis missouri oh good for you that's fun well welcome to nashville and all the way here to do a debt-free scream how much have you paid off and forty 162 dollars good for you and how long did that take eight and a half years all right very good and your range of income during that time between 35 to 70 000. nice job what do y'all do for a living um i'm a teacher and i just got a job as a teacher also all right couple teachers what do y'all teach i teach personal finance business those things i love i love this guy i love this guy and i'm gonna teach marketing all right two great i love it so both of you in high school then huh yes all right you're brave good for you good for you 163 000 over eight and a half years uh what kind of debt was 163 000 uh about 110 000 of it was a house oh you paid off what we sold we sold the house okay wait wait wait so you still have a mortgage uh we're renting right now oh you're right enough for a down payment all right that's good yep all right that's cool buy one crazy but that's good well we sold it because we were moving okay all right about 30 000 of it was her student loans uh well done and then the rest of it was a lot of stupid we had a car that we finished paying off and those things so okay cool wow good for you guys so you've been on quite a journey here for eight and a half years there's a lot to this story uh what got you started on this um well we were entrepreneurs at the time and a friend of mine we had an eight and a half hour trip down to a a friend's bachelor party and he said hey you should listen to this dave ramsey guy and he stuck it in and for the trip down and the trip back we listened to the entire fpu you had no idea i had no idea this casual comment was going to turn into a trap yep force fed oh my gosh yep so we got home and i i went and told her about it we had just bought a house a month before oh my gosh of course no money down borrow the down payment borrow everything for it and i was like a month ago this would have been good information to know so he gets uh force-fed with a fire hose for eight hours and he comes in and tries to distill that to one conversation i got a feeling this didn't go well you answer this come on tristan tell the truth tell the truth at first i was kind of like i don't know but because i kind of grew up with you know you take out a car loan and you make the payments and whatever normal yep and then life got real crazy okay in there so okay well and no wife wants to hear after he comes back from a bachelor party honey we gotta talk right right nobody wants that conversation what are we talking about this is a serious conversation oh no oh no yeah okay wow well very cool very cool that's a long time to persevere through this whole thing 20 000 a year for eight and a half years and then eventually make the decision to sell that house as a part of it what do you tell people the key to getting out of debt is never give up so even if you do bad one month or one year jump right back on board yeah so dave part of our story is we are entrepreneurs and our business failed miserably so that's why the income was so low one time she was working for free for about a year and a half and then i i took income outside the business and then we finally decided to throw in the towel and we were living in florida at the time and we moved back home to missouri and that's kind of we got this kick started the heartbreak yeah yeah that's part of our story is your your dream turns into a nightmare absolutely and uh and and that puts that that knot in your throat for the rest of your life i'm about to cry with you i'm a sympathy crier but i also went through the exact same thing so i cried applebee's commercials so but um but yeah the uh uh yeah there's uh yeah it's uh the dream turns into a nightmare and something about that nightmare you've chosen to spend the rest of your life working with high school kids so this never happens to them again we'll put you on that path absolutely you know it was funny we were it was july 18th before school started and i was looking for a job and a job back home called me and we he interviewed via skype hired me um said hey you're going to teach personal finance and business i was like okay that was what my degree was in um and then that school i actually got them to buy your curriculum yep so and i've been teaching here teaching your principals ever since you know i had a good conversation with a parent last year she goes you know you're you're uh telling my kid he shouldn't take out any car loans and that stuff and he's coming home and telling me that i did it wrong i said i just want you to have the conversation i said you can take with it how you want i didn't tell your kid to come home and tell you you were stupid exactly i just said you were yeah i'll give you a phone number to a couple of guys that'll tell you you're stupid wow we do it for a living oh that's funny one of my favorite parts of this job if not the favorite is when i see folks who are looking in a pile of ash and they grab each other's hand and they stand up and they say no more and they take a tiny step and a little step in another step and then they've got i see your beautiful kids over there and you say if not for us but for them and suddenly every single thing looks different y'all done this for the better part of a decade right and it's still as fresh in your throats as it was 10 years ago right absolutely that this is what heroes look like right here yeah right in front of me it's incredible work you all have done she told you the secret folks persevere never incredible even when you screw up even when you fall off the wagon you crawl back on and you go again never quit never quit never quit that's such an honor that's the hardest that's the hardest part that's why you are such heroes very very well done good job and so you brought the kiddos with you what are their names and ages let's bring them up into the debt-free scream so our oldest is tinley she's 10. and then we have riker who is seven almost said six he got mad at me at a birthday last month and then we have ashton who is four and then captain is three all right good looking guys way to go great so they've been practicing their debt-free scream yeah yeah they know what all this means absolutely all right they look ready to me they look like that free screamers professionals very good we've got a copy of the legacy journey for you that's the next stage in your story the next chapter in your story where you completely change your family tree you're on the process of doing that in so many ways uh with the lessons you've learned the things you've been through the pain you've endured it all gets redeemed it all gets redeemed and used for you to have a dream and i'm we're looking at them right here life is good well done you guys well done also a copy of the total money makeover and you know somebody that needs that like you got force fed that uh those cds that's the worst trip yeah so dave every year i'm an fbla sponsored so i give all my seniors a copy of your total money makeover book oh wow as a graduation president so well thank you my goodness gracious you guys are incredible thank you so much wow all right stephen and tristan tinley ryker ashton and kipton it's 163 000 paid off in eight and a half years making 35 to 70 count it down let's hear a debt free scream all right guys you ready yeah three two [Music] [Applause] one [Applause] i love it what a wonderful picture that is so fabulous i'm not crying you're crying dave that's right and uh quit pinching me and dad and uh dad's teaching financial peace university and that's what our financial our foundation's in personal finance in high school that i mean this is what it looks like man by god this is gonna change you know and that's what happens that's a complete and thorough transformation be not conformed to this world but be transformed by the renewing of your minds the good news about somebody like that is um i don't know maybe you were listening and you didn't think you could do it what you might not think you can do is eight and a half years thirty five thousand dollars it's a long time yeah but i think you can and stephen and tristan know you can no whining boys and girls this is grown-up stuff go get it step up get em get em this is the ramsey shop [Music] [Music] do dr john deloney ramsey personality is my co-host today open phones at eight eight two five five two two five teddy is with us in new york city hi teddy how are you [Music] hey dave how are you better than i deserve what's up so i just found out about you and your show a few weeks ago and i'm hooked i've been binging a bunch of your videos online and my question is as a college student how do i start investing i hear you talking about these mutual funds that increase about an average of 12 percent a year so i'd love to get into something like that because i want to start investing good for you so how old are you so i'm 22. good for you what are you studying uh mechanical engineering oh very good degree when will you graduate yeah i'll graduate at the end of this year and potentially maybe doing an extra year for grad school still having to figure that out i don't want to have to take out you know to spend a little more money to go to school i just want to you know hit them before running and to get a job okay excellent good for you what advantage does uh the masters in mechanical give you over the bachelor's so um to my knowledge it gives a more specialization to the area of mechanical engineering that you want to go into and obviously a little bit of a pay raise okay and what's your specialization you're aiming at um i have a few i haven't narrowed that down yet you i think you typically figure that out in senior year because that's when you take like your technical electives i'm looking into more like the thermal sciences or potentially mechatronics so like robotics yeah cool so you're going to graduate in december did i understand that right uh no it's uh at the end of may so the end of the academic year oh i see so a year from now okay yeah all right good so you have a whole year left good okay hmm and how much money do you have to invest um well i have about forty five thousand dollars saved and um about seven to eight thousand of that is going to pay for my rent uh with utilities for this coming year because uh i go to a state school but it's not near my house so i have to rent somewhere else so i estimate by the end of next year i would have saved about forty three thousand dollars okay all right well um twelve percent on forty thousand dollars is five grand okay and 5 000 bucks is nice if you send it to me i'll take it that's all right but it's not going to change your life the difference in 40 in may or 45 in may is not going to change your life would you agree with that yeah okay what will change your life is you're you're completing this education debt-free and not being com not being encumbered by a bunch of student loan debts uh and so i am saying that the best investment teddy can make in the next 12 months is in teddy and that's a mathematical statement not a philosophical statement it's also a philosophical statement i believe in you but uh but but the best rate of return you will get is in a completed without any debt without any encumbrances without any weight around your neck degree in mechanical engineering that is worth much more than you can make on a mutual fund in 12 months you got plenty of time the rest of your life to start investing in your retirement and mutual funds and i want you to sit down with somebody outside of your school outside of your graduate program who works in the field you want to go into maybe one or two or three of them over the next year and ask them about the graduate does that matter is that actually going to help you right now should you stay in next year because if you got the money and you got cash in hand you can pay for it and walk out it may not be worth it it may be one of those things that if the college is going to tell you it's going to be worth it because they want you as a student but um the market may not demand it or the market they may tell you yeah man stay one more year and get this thing done and you're going to have the cash in hand to do that but when you transition out you're going to think about car you're going to think about where you're going to move to all these little expenses add up man and you have you've set yourself up so great right yeah absolutely you've really done a great job so in other words i would just hoard cash until graduation and at that point once you've landed the new job you bought the car you got the new place you got to pay the utilities you paid the deposit you're set up in the new job life is set up in the new job then with what's left we can start talking about working your baby steps and getting you to a an emergency fund and start saving towards a house down payment and start investing in good mutual funds but um you are a better investment than mutual funds are mathematically because you are have chosen to study something that has a marketplace value you're not getting some nuanced degree in left-handed puppetry and then think the society owes you a living which is the biggest load of horse crap that higher education ever sold and i dave one of the things i remember drastically underestimating was i needed grown-up clothes right i had to go to a grown-up job i had to have like tucked my shirt in now i couldn't just roll out of bed and go to college um and so there's all those little expenses man getting the car getting those all the grown-up stuff man so wait yeah i love that wait if a month into wherever you're gonna be working your new job and then if you're sitting on 30 or 40 or 50 000 cash then you can go invest that thing the the irony is is that later on neither one of us got grown up close i come to work in blue jeans and a shirt every day a buddy of mine a buddy of mine had a guy sit him down and say you need to start dressing up nicer you need to dress for the job you want and this guy had a suit and a tie and my buddy todd is a bank executive he looked at me goes whatever job you have i don't want that one i don't want to wear a suit and tie every day so yeah there's not many you do anymore but uh but yeah you do have to uh you have to be thoughtful about uh dressing for success was an old book when i was 18. by steve malloy yeah dress for success that's part of the program justin's with us justin's in green bay wisconsin hi justin how are you i'm great thanks so much for taking my call sure how can we help well i'm 23 i have a bachelor's degree in marketing and about 30 000 in savings i just recently started baby step 4 uh and just start a new job but they don't offer a 401k match so i'm wondering if i should still pursue that or look at like other opportunities and ideas good for you very cool yeah it's awesome you got things going man so um well here's the thing match is the best because 100 rate of return before you start investing which is what a match is you put in a thousand bucks they match it that's another thousand bucks that's a 100 rate of return before you even get started in investing you can't really beat that so match is best the next best thing is tax free growth which is a roth and so you would open a roth ira since you don't have a match and you can put 6000 bucks in that and if your 401k has a roth option which it probably does does it i don't know actually yeah most of them do these days uh but most of them have a match so it may not so you just have to ask so if they've got a roth option then you would pick the four types of mutual funds inside that and you would pick the um take your own roth as well and you'd put it across the four types of mutual funds we talk about growth growth and income aggressive growth and international that's the four categories i personally invest in and i've recommended that people invest in for 25 30 years now and you pick the longest possible track record mutual funds that you can get a hold of and so with your you know with your personal uh ira roth ira you'd sit down with a smart investor pro and you can pick those out and you'll you can find stuff easily with 10-year track records that have outperformed the market and then within the 401 k they may or may not they may not have long track records but get the best ones you can get with the best rates of return in each of those categories and put it across those four and uh then if you run out of roth meaning let's say your company doesn't have a roth 401k and you do your roth and you still need to do more to get to 15 of your income which you probably would need to do more then you would do non-roth non-matching meaning a traditional so you do your 401k so if your 401k does not have a roth option you would do a roth ira to the max and then anything you've got to do more than that six thousand dollars to get to 15 of your income you would do that in your 401k across the four kinds and uh that doesn't mean it's a horrible 401k it just means it doesn't have a lot of bells and whistles to it so that's a really great place to find yourself man yeah you're 23 years old you're getting started i wish i'd had a half a clue that you got yeah yeah you're going to be you're going to be in great shape you keep following the baby steps you'll be calling him being one of these baby step millionaires that we're hearing this that puts us our the ramsey show in the books thanks john good hour good hour to james childs and kelly daniel i'm dave ramsey your host and we'll be back [Music] have a friend or family member that needs a daily dose of ramsey advice in their life let them know about the ramsey call of the day podcast it's a quick hit of advice about life and money in under 10 minutes check out the ramsey call of the day podcast wherever you listen to podcasts [Music] this is the ramsay show [Music] you can be intentional about your character you can have money and a career you are the hero in your story [Music] live from the headquarters of ramsey solutions broadcasting from the dollar car rental studios it's the ramsey show where debt is dumb cash is king and the paid off home mortgage has taken the place of the bmw as the status symbol of choice i'm dave ramsey your host dr john dolone ramsey personality is my co-host today as we answer your questions about your life and your money if you've not talked to checked out the dr john delony show and um been on it it's on monday wednesday and friday on youtube anywhere you listen to podcasts as well his book best-selling book is called redefining anxiety and i'm working on a new book now that'll come out next year we'll tell you more about all of that so be sure you check it out if you want to participate in his show it's all about relationships and mental health and anxiety and boundaries and crazy people in your family and all that kind of stuff and maybe you're the crazy person in your family i don't know all that kind of crazy bosses whoa oh careful careful so it's about boundaries too boundary theory it's about decorum what to do when you're unemployed right how do i spend your unemployment money it's a hostile work environment pack your office john it's a hostile work environment that's warning you okay so just ahead of time you need to know these things uh you can email john at ask john ramsey solutions dot com for god's sakes get on the show because uh he needs some callers no he has a tunnel we're good man leave a voicemail at 844-693-3291 if you want to talk to john but by the way you could talk to him here today and uh if you get through the phone number is triple eight eight two five two hope is with us in midland texas hi hope how are you hi how are you guys doing today better than we deserve what's up well first off i just want to say what a pleasure it was to see both of you at summit this year in dallas that was very enjoyable thank you thank you for coming it was a great event we had a lot of fun it was great um my question today actually uh just a background my husband and i together started our own business 13 years ago and um it's just over the last four or five years it's gone downhill he and i have a lot of issues with communicating almost to the extent of not communicating at all but it is affecting our business a great deal because he and i are not on the same page as far as strategy how to how to go about the operation of the business and get it going so i guess my question is what kind of advice you might would have a relationship as well as just keeping our business afloat and moving it forward when we're not on the same page at all how's your marriage uh suffering yeah because of it is it the chicken or the egg is are they self-reinforcing one another i guess as things were tough at home they become tough in the office and they become tougher at home and the thing spins faster and faster um have you guys stepped away from everything and gone over to dallas for a weekend just to say hey what in the world's going on or is this thing just started spinning so fast and all of a sudden you look up and it's a year or two later and you're not talking anymore um it just kind of spun and then and yeah like you said two or three years later now things are just so totally out of control and we were talking to him when he said there's a problem too oh yes okay yeah yeah this is one of those moments that can it can be a a really important it's going to be an important moment either way but it can be something not to be feared it can be a beautiful moment when there's redefining rebuilding excavation start over rebuilding moments but it's gotta have to happen somebody's gotta turn the lights off i mean turn the lights on turn the music off take an inventory of the party you've been having and saying hey where are we what's going on and um i love it when couples can look each other in the eye and say hey we need to do this and have this moment this we need to take a post-mortem on what's happened and decide where we're going to go but somebody's got to just say stop for a second yeah you guys need you guys need a good marriage counselor in your corner asap to start with and just the business will not heal until your marriage does right we we have done marriage counseling literally a little about a year and a half ago um and apparently you didn't do it well right apparently not why didn't it go well um he kind of just checks out um we've even done business coaching and you know saying two different counselors a business coach literally fired us a year and a half ago or two years ago because he wouldn't participate we were in coaching for 15 months and he just wouldn't do his part of it he would wouldn't schedule for our our weekly uh sessions things like that he just wouldn't he just checks out and it's not doesn't even give any reason just checks out and doesn't do it um and it was kind of the same way in our marriage counseling i mean he attended uh because we went together but he would just kind of clam up and and nothing really was being said from his his point and he did tell me he didn't like the the counselor uh the marriage counselor that he didn't like him he didn't trust him or something and um it just didn't go anywhere and literally since that time we just kind of quit talking literally so your your your relationship uh if you stop and step out of it for a minute it's on life support yes um and i would say you're you're in an emergency status and it sounds like you've got a guy that's that is unable to say hey i'm done with this thing is unable doesn't and i don't want to blame don't have the tools or is it coward or whatever you want to say but he's unable to say i'm through with this thing and he's going to slowly suffocate it and somebody's got to turn all the lights on in that house and send the kids away for a weekend and say we've gotta we gotta take an inventory because what he's communicating to you is he is finished and he doesn't have the courage to say he's done or he's scared of you or he doesn't want to be in this business anymore and he doesn't know how to say it out loud somehow he is um slowly pulling this thing under water counseling we call it the one down position but he's drowning the house slowly but surely and um usually the your your role in this is to try to keep yanking as hard as you can the other direction and it just creates this tension that ends up sinking the boat anyway so you've got to just stop stop the music and say are you done with this marriage i'm not going to continue to participate in crazy the way it exists no i'm going to say we're going to do something different now do you want to work on this and heal it if you do that involves you finding a counselor that you trust that we can sit down with and that you're willing to open up in front of and us to get this stuff fixed otherwise it's just going to continue to deteriorate this is not working you know continuing to do the same thing over and over again expecting a different result um it's insanity and you know and if you're seeking outside direction and you're not taking the direction from outside that's him there has to be a reason yeah and um you know i can buy i i've sat down with people that i didn't trust and i'm not gonna open up in front of them absolutely i'm not doing that i can buy that as a reason but the the answer is not nothing then the answer is go find a different counselor right you'll find one you can he's communicating to you if he won't find another counselor that is a that's a communication to you that i'm done with this or he just doesn't have the tools to to work this through whatever it is but yeah you got to have somebody in your corner at least guiding you through these tough uh discussions that you have got to have immediately the business has not got a chance until the marriage does [Applause] what makes our show unique is that we genuinely care about our listeners we're intentional about choosing the best advertisers to recommend blinds.com is no exception they offer high quality window treatments at unbelievable prices and they make it simple to shop blinds shades and interior shutters with easy online ordering free shipping and a guaranteed perfect fit go to blinds.com and take advantage of this week's special savings [Music] [Laughter] dr john deloney ramsey personality is my co-host today open phones at triple eight eight two five five two two five all right john you are a phd in counseling and you've done a lot of trauma work and you've done a lot of work with couples over the years as well um if you were just gonna you may know some research off the top of your head to answer this but you may also have just an anecdotal feel for it um when a spouse for uh virtually for for no obvious reason that's on the surface that's in front of us turns away repeated counseling and stonewalls in counseling what percentage of the time is there a third party involved in affair i don't i don't have any data but that's my first that's that's my that's my number one question i always ask somebody are you seeing somebody else are you done right have you if they're saying i don't want to work on this or are they or they sabotage all the counseling yeah by not showing up or by showing up physically but not emotionally um not relationally and so on they're not engaged in the repair right that will be one of the first questions i asked if not the first is are you seeing somebody else are you through with this this interaction here are you done with this person it's like going to the doctor and the doctor says let me do a checkup on you and you just say no i'm good and they say well here's some medicine i'm good like at some point you are deciding to not be a part of the solution here and i want to know why but yeah but i'm trying to think of otherwise the only other only other why that comes to mind is somebody has such they grew up in a family that's so maligned counseling that's for losers or idiots or psychopaths or crazies and you don't need to go to counseling that's a shrink that's for yeah i had shrinkers yeah it's for losers maybe the the sense of failure is so great or man if i can't say the right thing to make my wife okay i feel like i mean that that makes me feel like a loser right i get that and so it could be something that shame is so heavy but i want to rattle that cage and i'm gonna ask are you cheating on me are you seeing somebody else right um i just can't think of a reason other than those two reasons why somebody would it comes up i mean again i'm not in that world but i end up in that world too often because the money you are in that world the money piece ends up on the marriage plate the marriage piece ends up on the money plate and so i end up and i'm you know this guy is completely disconnected this gal is completely disconnected i can't get him to engage in anything on the money stuff and i'm like they're not staying right for some reason or another they're not staying and sometimes when the person calls and asks that question dave we all have friends like this my wife's crazy my wife's crazy my wife's crazy you talk to your wife and you go no brother you are right and so it could be that this is round 10 of some thing that she wants to fix and he's like i'm not doing another one of your schemes because you won't participate so you always get we always get one side on the show but so i'm not saying that happened with her or him necessarily yeah yeah but but i but it just made me wonder during the commercial break from your perspective because you've got a lot more professional insight than i do on it mine's just an old guy hanging around with a whole bunch of hurting people for a lot of years and it just gives me a sense of these things but what do you think uh i would say north of 50 yeah that's my i just a wet finger in there though i have nothing to base it on i'm just i just because i can't there and it might be that they gave up on the situation and then went and got the affair rather than the affair caused them to give up on the situation i don't i don't know which one that is but they're gone right they just hadn't left yet that's right some people don't have the tools i don't know how to end the marriage i don't know how to break up i don't want to be the one that's the bad guy so i'm just gonna slowly up is hard to do i'm gonna yeah there you go i'm just gonna drown this thing right slowly but surely suffocated um and then by the way on the way down i'm going to make you feel crazy okay yeah yeah so who knows but i i just don't i'm not again we're not saying that's the last caller no i just it just made me question and made me wonder i wanted and i wanted to ask you in front of everybody else kenzie is in des moines iowa hi kenzie welcome to the ramsey show hi dave hey what's up well my question today i'm going to try to explain this as fast as i can is i recently got engaged in april um we before i met my fiance he had purchased land um he has 40 acres and i was renting um so i have a rental um our question or my question is we're trying to figure out we're getting married next year in july um what we are trying to figure out do we build a house on the 40 acres um together do we find a trailer house to throw out there or do we rent the house together until um either the land is paid off or i am out of debt either the land i'm sorry the land is paid off and you're out of debt what'd you say yeah so that he still owes money on the land um i am not i'm on baby step two um and so when we get married you should you should you should rent until you get out of debt okay and you should not buy a trailer because trailers go down in value those two things are easy then the only question is are we going to build on this 40 acres after you're out of debt right that's the only question remaining do you want to live on the 40 acres i kind of hear in your voice you don't yeah no actually i really do like where it lives we're just trying to figure out do we find somewhere else to live and buy a house or do we build why would you build somewhere else if you want to live on the 40 acres i don't i don't know acres yeah you need to be dead you need to be debt-free other than the acreage you you guys need to be clear of that and you need to be married now i also would tell you that building a house is a large and complicated project for a brand new marriage to undertake it makes it makes a 25-year marriage have some world-class fights a 25-day marriage you are putting it at risk because i mean you can you can kill each other over freaking curtains okay thank you dave so you need to be real careful i i'm not sure i would say hey the smartest thing you can do right if you get married to build a house together as a matter of fact i can say that's gonna put an extra strain on a very young and tender marriage and i probably wouldn't recommend it but not to the point i tell you not to do it but it's just it's just you're asking for trouble and you better be watching for trouble because he's gonna knock on your door while you're doing this john yeah and by the way in a year when you're married your debt is y'all's debt and that acreage debt is y'all's debt right yes this is something y'all gonna put in in this order in the snowball order and you're gonna pay it off together there yeah work your way right through the whole thing very good jeremy's in detroit hey jeremy welcome to the ramsay show well thanks a lot for taking my call sure um so what my wife and i have been angsting over a car purchase for a little bit and we kind of want to see what you think how much money do you enter um right now we've got uh 25k emergency fund 80k liquid investments 60k in our kids college fund great what are you talking about spending on your car um i would like a tesla model 3 performance it's a 65 000 car is that a used car now this this would be new are you are you have a million dollar net worth 1.8 yep okay um and what's your household income so i make a 196k a year like six buy the car pretty easy huh well you have the money you have the money it's a small percentage of your income you have a net worth of two million dollars this is a sixty five thousand dollar car okay you're not you're not buying you're not asking you're not buying a 250 000 lamborghini no you know maybe in another decade or two but well not maybe another couple of million in net worth and you know but but uh because you want your you want your rolling stock anything with wheels and motors totaled up to be less than half your annual income and it is yeah even with that i've got bonuses and the other side and you obviously need to pay cash for it because you called dave freaking ramsey right yes yep yeah that would come out of the liquid and you don't buy a new car unless you have over a million dollar net worth and you do ta-da you got a tesla congratulations you don't get a lot of people calling dave for permission to buy a tesla and him saying go buy the car so don't push your luck brother go buy the tesla quit asking questions to go buy the tesla you know it's me it's a guideline that's right i don't tell people to not have a good life i tell them to get their self in a position that they do have a good life let's get to tesla get the tesla i guess james cut that it is a tesla but there's that but this is the ramsey show [Music] [Music] [Music] so in the lobby of ramsey solutions on the debt-free stage scott and diane are with us hey guys how are you wonderful welcome where do you guys live in the st louis area uh just across the river whatever illinois yeah about 30 minutes north good to have you guys so welcome welcome welcome how much debt have you paid off a hundred and fifty five thousand dollars yay and how long did this take seven years eight months okay excellent and your range of income during that time 75 000 to 90 with a coveted backslide last year about 30 cut last year that's a bite yeah ouch yes and yet we still paid off the house completely free complete yes how old are you guys i'm 49 she's i'm 52. all right your condition i will not say that number exactly when we started dating i was 18 he was 15. that works excellent you guys what's this house worth about 225 000. excellent wow you've been doing this stuff for eight years well longer than that we actually started in 2010 and we were here in 2012 and signed the wall that's around the corner yeah um and paid off 36 172 dollars then yeah and then started baby step 3b so you were on the original debt-free wall that was beside the old studio yes right in the middle right on the m we cut the drywall out and moved it around made it a display around the corner from the hallway have you found your old signature yeah yeah that's cool and that was 2012 2012 yeah so uh gosh almost 10 years ago yes yeah wow you guys this is amazing how's it feel it's still days is not real you know and uh but it is so much more freedom and you didn't realize how heavy that burden was you know until you started making a plan to get rid of it yeah and now it's gone have you had the first month where there's no mortgage payment yeah we paid it off at the end of march so we've had a couple months of no payments and i'm the one that usually balances checkbook and pays the bills and it still doesn't it just feels weird well it doesn't feel right like you missed something exactly that's a lot of money on that side of the ledger right yeah exactly it's funny when you've been carrying a bunch of weight for a long time you put it down your arm feels weird it feels like you're still being on the boat all day and you get on land and it's so wobbly right yeah exactly that's that's interesting that's incredible you guys very well done what do you tell people the key to getting out of debt is the key is is the budget that's absolutely we have not missed a budget since march 2010 yes and doing the budget together and coming up with the the same goals and dreams and outlook and so those two things working together because we were both sort of on the same page but not totally and so you know even if we're both going sorry this direction you know even if we were like this then it recorrected us and and got us going both the same direction with the same goals and and dreams so you've been working the baby steps all the time putting the 15 away oh yeah oh yeah so what are your investments looking like uh real well uh when we started this you know back in 2010 our net worth was negative uh we are healthy six figures probably hopefully millionaire status in the next three to four years yeah you should be there yeah should be there shortly yeah that's what i was thinking with that house paid off and everything yeah way to go guys baby steps millionaires look at you how do you keep doing this for seven years well a couple that's a long time a couple things as diane said we were focused together and also we have coordinated fpu 18 times whoa so we have lots of accountability partners throughout our community you can't let all those people down no no no no no so we probably have 600 to 700 people have gone through it that we've got as accountability partners yeah that'll do it yeah that'll do it well and then also i mean just watching and re-watching fpu and each time you know there would be new things that i'm like i don't remember him saying that before and so i mean we still took notes the 18th time [Laughter] wow so all the jokes are still funny to me you're so precious thank you thank you i love you you're amazing you're my kind of people yes and it's still funny to me but i laugh at everything yes that's so great that's so great that's fun way to go you guys yeah we're so proud of you thank you congratulations we couldn't have done it without the the pathway that you made wow thank you and you walked it and ran it and ran it and walked it and stumbled and did it yeah well done very very well done put two kids through college during that two years oh really yes wow yeah no student loans oh no no guys you got to lead with that and that's great too that's bigger than paying off a couple of other houses you paid off right yeah wow yeah that's a big deal and so now you've launched two kids out of the world with no student loan debt yeah and their parents have a fully paid for house they're not gonna have to put you guys in a retirement home and you've completely changed the legacy absolutely incredible are they behaving oh yes both of them are doing very well yes our son's still at home he has high functioning autism so he'll probably stay with us for a little while but he has had a job since he was 16 and um is saving for his retirement saving for his first house and our daughter's out on her own and working for the same company that i worked for when she was a baby wow absolutely loves it and she's been able to get an apartment with no credit no credit score it can't be done it can't be done is there anything we tell people to do that they have not done this is amazing she's bought a car she bought two cars with cash how do you do that the next generation she's a financial peacemaker we're screwing up a lot of people's excuses listening all the excuses are gone now that you're here yeah no excuses that's so fun well done well we've got a copy of the legacy journey you probably have one but i'm going to give you another one i'll give you a copy of the total money makeover i know you had one of those but i'm gonna give you another one and you can give both of them away to somebody and pay it forward that'll be awesome we're so proud of y'all thank you congratulations thanks for sharing a great story of just being heroes just taking control of your life very very well done thank you for the opportunity scott and diane say louis every 155 000 paid off seven and eight seven years eight months making 75 to 90. house and everything we're looking at weird people count it down let's hear our daddy free scream three two one [Applause] that is how it's done that's so cool man doesn't get any better than that you know that this is uh financial peace university uh 18 times wow we're running a free trial on that right now with ramsey plus 18 times yeah i guess during the free trial if you just binge watch it over and over you could probably do it 18 times during the free trial but you probably wouldn't get much else done during that time but uh yeah yeah and it includes the every dollar budgeting app which wasn't there when they started nope um the lessons are certainly updated and polished and everything else since they started uh but if you want to jump onto ramsey plus and get the free trial you can go through financial peace university uh you can be budgeting with every dollar during the free trial there's other classes there's community there's coaches there uh because uh you could be scott and diane someday no house payments just think about it for a second no payments on their kids nothing everybody went to school debt-free nothing they did like every baby step man paid kids college did retirement they're almost millionaires baby step millionaires on the way they're still holding hands they still like each other i don't even know what to do that's incredible she did have to shake his hand loose to make sure he did he's held on there pretty tight yeah yeah that's great all right text trial and you can get a free trial ramsey plus and go through financial peace university right now text trial to 33789 text trial to 33 7 89 you know it's uh we we lay these baby steps and all the nuances around them out and we talk about them because it's the framework by which we teach you to make decisions because that's how we're going to answer questions here as well as far as the financial part of the question goes anyway a relational question there's a whole different set of of rules that you'll get into but the uh are guidelines or principles that you'll get into but the that's what we envision when we talk this through is that somebody that actually does it yeah and if you actually do it it works like what years ago we used to have a money-back guarantee everybody said yeah i have a money-back guarantee so i had a money-back guarantee if you go to the class and do the stuff in the class it works if you don't it won't did you ever give anybody's money back i would have but nobody asked because they they're too ashamed they didn't go to class or they did it and it works every time every time yeah you don't want your money back if you did it didn't work hello that's the thing that's incredible this is the ramsey show [Music] [Music] [Applause] [Applause] [Music] [Applause] [Music] dr john dolone ramsey personality is my co-host today lane is with us in wilmington delaware hi lane how are you i'm good how are you guys doing great what's up um so in march i passed my occupational therapy board so i have my master's in occupational therapy however last year i started a landscaping business it's been full time so rather than getting a therapy job i went ahead and did the landscaping full-time it's been a great source of income i have 12 000 left in debt and i'm honestly just kind of burnt out so i was trying to transition into my therapy job now so i have less landscaping jobs and i'm kind of in a weird limbo where i ha i accepted an outpatient pediatric job which i'm very passionate about but it's only one day a week and so that's not enough and i'm having a hard time finding places that will take me for the other four days why did you leave the job you had before you had another job so i didn't i am a small business owner so i i couldn't grow anymore without hiring someone and i didn't want to have to do that because then you make a lesson i don't have a problem i don't have a problem with that i'm just saying why'd you shut it down before you had the new job lined up oh so i i did not shut it down okay i'm still doing it but i have less jobs now than i did so did you intentionally take fewer jobs um yes i did because i honestly was burned out and my attention to detail was going down and i didn't want to provide people services to that mindset um and i was ready to get started with my professional career for what i went to school with com that part i'm in complete alignment on it's just the timing thing yeah right um what did you say it was the timing thing you dropped you stepped off of one income to no income i just would i would have loved for you to have had your i mean i'd love for you have just gotten uh you know your your occupational therapy job and just quit landscaping right it's so getting credentialed through insurance takes like a month so actually a month ago i sent in some applications and then i found out now after i already dwindled down the job that getting credentialed through insurance takes some time yeah um and i do have twelve thousand dollars left of debt which i feel like is eating me alive um and i kind of feel like a bum having even like two days off a week um so this is kind of just like uh i don't know i can't go anywhere i could go to a really great restaurant and apply and work there and make money but you know who knows in a month i might have to say i have to leave you know i don't think morally right to do so listen listen listen you're cooked yeah okay and i've sat with i can't even tell how many students who have finished their boards or finish the bar exam or finish whatever and they're just cooked and so where you find yourself is you are fried but you did jump off um you you chose to stop paying attention to detail because you got tired right it's not something that happened to you it's something that you chose to do you are just zonked okay and what happens when you get zonked to sometimes you start catastrophizing and start creating situations that then you try to solve that haven't even happened yet so what i'd love to see you do is go find somebody in your community you can talk to just go talk to a counselor once or twice just go find something or go out with your friends have people over to your house i want you to be human again okay you've been a robot attacking tasks for a long time yeah you've been in fight or flight for years okay you're gonna have to take some more lawn jobs and do some more landscaping jobs until you land a full-time job and then here's what you do you call your landscape clients and say i'm getting out of this and so here's your two-week notice and then you move on right and they will find somebody else but you have over thought this and overspun this because your body's cooked and you just need to start laughing again invite some friends over to your house again you gotta make some money so you're gonna have to pick up some more jobs again if you just can't start that lawnmower one more time then go get a job at a restaurant i just don't know why you wouldn't just do it for another five or six months getting your boards it's fr you thought you were gonna right into a new job as soon as you pass that test we're gonna start on monday and then you realize are you freaking kidding me there's more hurdles yes there's more hurdles and so now you're right back in it take some more jobs make some more money but start being a person make the transition by christmas yeah but don't make it by tuesday don't make it by tuesday you're so close honey you're so close and you're so strong and you've made it you're gonna be good but you're not quite there yet okay so maybe like christmas you're tired but you're so close this is a terrible example and i wish i had another one off top of my head but this is live radio you know when you're in a long car ride and you got to pull over because you gotta go and then it feels right when you get to the gas station all of a sudden it becomes a super emergency right that's where you're at that's where you feel you just gotta hang in there okay don't go in the car wait till you get inside okay [Laughter] maybe the worst live radio analogy i think it probably qualifies as one of the worst ever hey i know you're fried i want you to have some people over this week you'll watch a movie you get some pizza it's a glass of wine you all laugh but start re-engaging humanity again elaine you're strong enough to hang on to do the transition wisely instead of this gap that you left between the incomes which is now scaring you more than the burnout scared you does that make sense i i have no reason to stress financially i just got married in june and you know i'm we're everything's great so is not about math it's not about math your stress is that your body has been in fight or flight it's been on cortisol and adrenaline for years and it finally just said enough you've been cranking through these tasks and it's just you you've you've been on in a a machine in a good way but very robotic but but uh it got you through there and you can go you can go from here so you got the stuff it takes you're just gonna have to make this transition a little more gentle uh because it's driving me nuts yeah genie is are more gradual i don't know incremental jeannie's in tampa florida hi genie how are you hello dave john i'm will thank you very much thank you so much for all you do thank you how can we help um i am 59 years old getting ready to reinvent my life um after 30 some odd years out of the traditional job market and i'm trying to decide if it makes more sense to sell my home and relocate to a less expensive area for a fresh store why are you reinventing your life of 59 i love your spirit in that language what what what's going on that's how sadly i'm facing a divorce after 33 years of marriage oh that's hardly a reinvention yeah when was it final um it isn't yet um i so i'm kind of in the process of that um right now turned out after coming to financial peace in 2009 i didn't have a financial problem we had unfortunately a relationship problem so i had my elt over last night and i got a price for the house what i could sell my home for my home is paid for um however after it was all paid for it ended up getting an equity line on it so i do actually have two debts that would need to come out of the home if i chose to sell it what are you using for income after the divorce uh that's a bit of an issue um i actually i belong to business boutique and um by trade i'm a writer and so as you well know with the publishing market the way that it is it's been kind of changing so um i've been self-employed for 30 years now and so i'm gonna have to kind of figure sort of figure that out so i'm trying to get a job hasn't been working but um you know i do have attendant money so um how much money do you have will you have what will you have when the smoke cleared the house i'm sitting in it that's it what's the house worth that's it uh 225 according to the erp lady who looks very nice if we could get your income going so i knew you had something to live on i would tell you to slow down and not sell it fast okay unless the house holds memories and emotions that you'd rather get away from that's part of the problem they've quite frankly it's kind of my my support system is here but that said is like all i want to do is full run this has been going on for quite a while now unfortunately you want to clean you want the white board wiped off i don't mind you selling that i don't you know what i do is just sell a house and rent for six months but what i would also do is not touch the money don't touch it go get some money go get a job and make make enough money to survive without touching the money don't use this money to be your fresh start go get a job anywhere go get you a nice apartment somewhere get you a fresh emotional well-being around you but don't spend the money [Music] hey it's kelly associate producer and phone screener for the ramsay show if you would like to do your debt free scream live on the show make sure you visit theramsyshow.com and register we would love for you to come to nashville and tell dave your story this is the ramsay show [Music] you can be intentional about your character you can have money and a career you are the hero in your story [Music] live from the headquarters of ramsey solutions broadcasting from the dollar car rental studios it's the ramsey show where debt is dumb cash is king and the paid off home mortgage has taken the place of the bmw as the status symbol of choice i'm dave ramsey your host dr john deloney ramsey personality is my co-host today as we talk about your life and your money it's a free call at triple eight eight two five five two two five that's triple eight eight two five five two two five kisha is in wichita kansas hi keisha how are you i'm good how are you better than i deserve how can john and i help well um i don't honestly i'm not sure that i'm asking the right question but i i'm struggling with feeling like if i approach my mother-in-law i disrespect my husband um because my mother-in-law talks negatively about me to family and friends when she is upset and honestly i'm not sure why it started shortly after we became married we've been married almost six years have two great children um and it's just kind of getting worse so i don't i know i can't control other people but i want to support and respect my husband in every which way because um he leads a wonderful family and so give me an example when she gets upset give me an example of that so the most recent was she was in a disagreement with her other son and she then called him disrespectful and isn't sure where he learned that and said that i must be rubbing off on him as well um did he immediately tell his mom do not disrespect my wife no that was her son her brother that was that that was my brother-in-law um but he shared he shared that with my husband and yes my my husband immediately talked to her and said don't ever do this again oh good um you know but but this is it's not the first time and i know it's not going to be the last time so how is her what's her reaction when her son what do we do when her son calls her on the carpet your husband and says hey mom you can't talk about my wife like that come on what's your problem stop it what did she say right there's no apologies there's blaming of either him or i um she's never wrong with it okay so there's really there's really two choices you got um right choice number one is let your husband know hey i i'm feeling this burning in my soul i want to sit down with her and just ask i'd love to make peace with the grandparents of my kid the grandmother of my kids right you'd have to understand and you make peace with the fact that peace may never come and at the end of the day you've got to unhit yourself from this woman who's just choosing to bring poison into your life and i know that sounds trite and silly and how am i supposed to do that at the end of the day you're gonna have to make a decision that old lady can just say whatever she's gonna say but i'm gonna love my kids i'm a good wife i'm a good friend i'm a good neighbor um i got a great husband and i'm gonna go about my life i'm not gonna let her dictate my world right i i am a i'm personally a fan of face-to-face conversations but i've had to make peace over the years with the fact that some people a don't want to have them with me or b they have no interest in any sort of reconciliation because like you said they're narcissistic never wrong yeah they're never wrong but i always want to know i went down swinging on that one yeah you gave it every shot so it might be that that you you and your husband and uh your father-in-law and mother-in-law go to dinner one night you all buy and just say um you know i'm not trying to correct you at all i just want to tell you that we love you we respect you and i don't want anything but good things between us and i and i won't be ever saying anything bad about you behind your back ever right you can count on me to cut to take your back i'll always take your side behind your back and if if i ever have any issue with you either your son or i will discuss it with you we will not discuss it with other people and we just want you to know that we love you and respect you and and gosh if you could do that for us that would be the greatest gift in the world but even if you don't we love you we respect you and you're the grandparents of our kids and it just shames like it just shames the crud out of it it's the old bible verse about heaping coles right yeah if you can't have a in person you can write a letter just tell her i'm glad you're the grandmother of my kids i love you and i want you and i respect you and um like i love that i hope that you'll do the same for me yeah if you ever have any challenge with me please give me a shout but here's the thing some people make a decision to be test pilot for a broom factory and and this woman is she she's like a second degree lieutenant test pilot for the broom factory that's what she is and so if she just decides i'm gonna be a the rest of my life and you're attached to her through her son you just have that attachment and you just go that's the crazy one over there in the corner look at her check out the pointed hat you know i mean so that's just you know you just have to kind of put that in your head and kind of grin and go on because every family's got some right right that's that is that is very true it's hard but that that's where you said it you said it early in the conversation you said it you said i can't control her so i mean you you've intellectually got that part but the problem put it down the next trip is to emotionally get that part and there you go i can't control it because here's what you're trying to do you're trying to figure out what it is you're doing and you're not doing it you're not doing anything there's something way back in her childhood that just is in in her interaction with her husband or something who knows i don't know somewhere along the line hurting people hurt people and usually these situations are real frustrating for me because we got a husband who won't step up to his mom and that's not the case here you got a man you gotta love your husband i love your husband it's awesome and he do too yeah he's good he's you know because usually i i get this wife i get this call and i'm dealing with a wuss and a husband he won't stand up to his little mommy right you know and this guy's a stud and he wasn't mean to her he just called her out yeah but in her world anybody in her little narcissistic world anybody who calls her out is called mean yeah you're just so mean so here's here's the messy part of this you have a fantasy in your head about christmas and thanksgiving that has these perfect grandparents that welcome your kids and they run out of the car and they hug you and you can call her about challenges with your kid this doesn't exist you're just gonna have the halloween character show yeah thanksgiving you gotta let the fantasy go and i hate that for you but it's most families it's most famous it is it is but i we all have the fantasy and it's in it's like freaking leave it to beaver did this to this culture we all think june cleaver's out there somewhere and she's i don't know where she went i think she died about a generation ago but but we've got the little white picket fence and the little functional family most families put the fun and dysfunction i'm just saying oh this is the ramsey show [Music] so [Music] me still on baby step number one huh how'd you guess with health care costs rising learn how christian healthcare ministries can help you make the most out of your budget visit chministries.org budget don't worry it's worth it [Music] so [Music] if you guys had any idea how hostile work environment this is behind the scenes before the commercials go off it's unbelievable i don't know how kelly and james sleep at night man those who are ruthless it's uh they are ruth yeah just getting an argument with a phd in psychology it's it's not healthy open phones at triple eight eight two five five two two five that's true they're both crying triple eight eight two five five two two five y'all jump in we'll talk if you're struggling to keep up with payments uh you know what it's like to be scared i do it's not easy and you don't have to live like this when you pay off your debt and you do it quickly you never have to have that kind of stress in your life again and you can do this here's where you start financial peace university millions of families have taken this class and learned how to pay off debt take control of their money and you can stream all nine lessons right now you can get some extra support by going through the class with others and the only way to get financial peace university is through ramsey plus you can get a free trial to the membership of ramsey plus by texting trial to 33 789 don't be held back put an end to the worry into the stress financial peace university a free trial at ramsey plus text trial to 33 7 89 ishmael is with us in denver colorado hi ismail what's up uh yes sir um i have a trucking company uh phoned it for about three years and i've just been recently listening to you guys and learning the new ropes of how to manage my money i have about uh in the business i have about 32 000 in debt and then personally i've got about 21 000 and uh student loans and i just wanted to know how would be the best way to uh to budget for the business and then also try to get out of my my my hole that i've digged myself so i'm guessing that you own the truck and you drive the truck and that's your trucking company uh yes sir yes there's not other trucks involved or other drivers involved it's you and one truck right hello uh-oh he didn't like your answer dave we just lost him no i think we just lost him i didn't do anything offensive yet i didn't hit him on the uh i'm just keep lying long enough to be offensive but um yeah i'm just i'm just getting there yeah okay so we'll come back to that uh see if we can get him back up in a second open phones at triple eight eight two five five two two five john is in atlanta hi john how are you hello good evening um dave and john question for you so i have i'm sorry glenn go ahead no that's great okay um so i have um i have beneficiaries set on my retirement accounts as well as on my term life insurance outside of work and then my life insurance at work and then the supplemental life insurance i have at work as well so i'm trying to understand like when and why do i need a will um in case i well we're not divesting basically you're single yes okay well i think your will is going to be very simple and very clean but i would have one my guess is you have a car don't you uh yes i have a car and mortgage and um emergency fund money as well okay so getting possession of that bank account that car title and getting that house sold is going to be 20 times easier with a will for whoever's left with this job to do than it will be without a will because they're going to have to go into court and get permission on every stinking little thing in probate court if you don't have a will so your will says i name so and so how old are you 30 well probably 37 pretty soon and you're single who would be the executor of your estate who would be in charge of handling your estate um i guess it would be one of my parents yeah i haven't decided who yet but one of my parents well let's just for for purposes of discussion we'll call it your dad okay yeah or let's call it your mom your mom your mom is going to be the executor of the estate an executor the word executor means execute their job they're an executor they execute what the will says that's all they do and so if they have a will she hires an attorney a few hundred dollars they go to probate court get the will approved and then the judge will give the executor full powers to sell the house sell the car sign the title for the car sign the title to the house clean out the bank account and use it for the good of the people in the will now the executor's job is to do what you said to do in the will you're going to say sell everything and give the money to whoever and that's what the wheel's going to say but yes you definitely need a will okay go to mamabearlegalforms.com they're inexpensive to do online you can do it very quickly very easily um they've got some worksheets and stuff that'll help you get just you know you got to have an executor appointed and then you've got to decide who your heirs are and the the more prep you do before dying the easier it is on everyone that's left behind and so this is a gift to people that you love is the way you look at a will the way you look at life insurance the way you look at naming the beneficiaries you're obviously a very diligent person anyway so you're just missing this one thing but um john my estate plan is very complicated because there's a bunch of crap in it and and so making sure that everybody knows where they stand what the part is what to expect uh what not to expect those kinds of things in our in my estate plan is a gift of mine to the relationships of the people that are left behind because people fight more over what somebody meant to do that they didn't say out loud in a will and didn't have documented properly than they do anything else just about in families and when you're grieving you hear things differently you imagine things differently i know so many folks who have already spent money of estates that they're not even right everything comes to a head i love the way you say that it's a gift just think of the people that you love grieving your loss and you want to provide them with the smoothest avenue towards cleaning this mess up yeah right i mean the antithesis of it is snarky but is if if you want to leave your family all fighting with each other and you think that'd be fun that's like the ultimate existential practical joke but you want to just leave this bunch of jerks all being jerks to each other forever leave a very complicated estate with mixed up directions and not much of a will and they will go into hyper mode the the statement that a buddy gave to me one time we were just all hanging out and they said talking about their wills and i said i don't have one and my buddy john said the only reason to not have a will is if you hate your wife and kids yeah and i remember thinking oh oh okay right if you want the state of texas or the state of tennessee or the state of nebraska taking care of your family don't have a will they'll do a great job because they do a great job taking care of everything else yeah i mean you've been in that dmv line lately yeah yeah they'll just still be great for your weeping family looking for uh groceries so yeah man and if you're in his situation it's a gift to your mom it's a gift to your dad it's a gift to your loved ones it's a gift to your nieces or nephews whoever the beneficiaries are going to be of your of your estate um and it doesn't take long less of it goes to the lawyers less of it goes to the state less time is consumed executing your wishes when they are clearly laid out in a will and it's just an absolutely vital thing i will say this there is not an excuse to be an adult in the united states i don't have a will period it's gotten too cheap you can do it online you can go to a local attorney's office it's just too easy to do it's inexcusable to not have it our sponsor mama bear legal forms is just they make it very they did mine that's i i wanted to see what it was like and i got a simple will just get it done yeah and here's the thing wills need to be state specific yes which means the state that you are currently residing those laws will apply to your estate nothing else so i don't care where you used to live i don't care where you grew up i don't care where your property is the laws in the state you reside in when you die will apply to your estate and so if you have moved states your will may be invalid uh and if you've had a major family up evil you've gone through a divorce or the loss of a loved one or something you may need to redo your will we when we moved here we did ours right yeah you should because you're not in texas anymore and texas law is considerably different than tennessee so there you go get it done [Music] so [Music] in the lobby of ramsey solutions on the debt free stage zachary and tracy are with us hey guys how are you we're doing great dave how are you all doing blessed blessed bless life is good man good to have you guys where do you live we're from los angeles california awesome and all the way to nashville to do a screen yes sir how much have you paid off we paid off a hundred fifty thousand dollars whoa and how long did this take 44 months 44 yes all right cool under four years and your range of income during that 44 months 78 000 to 150 000 whoa double it there you go game on what do you guys do for a living well i'm a manager at a worldwide media company and i work from home i'm a stay-at-home dad and i run an online company yeah i hope you're doing voiceovers you used to be in radio in hawaii actually yeah yeah you got you got the pipes for it for sure thank you well done good for you guys excellent what kind of debt was the 150 well a hundred thousand of that was student loans between the two of us and then the rest was credit card and miscellaneous okay so you're just kind of normal yeah just been gathering up how long you all been married uh we've been married for over seven years now but together for a total of 17. okay so what happened 44 months ago that broke this loose uh back in 2016 i lost my job at a company i was at for 10 years i started there with 15 people and then we grew it to about a thousand oh plus and it was basically bought out uh they attempted to get rid of me and that discouraged me uh going back to any corporate job i was a repossession manager for auto title loan company oh so i used to be the bad guy so i it was a blessing in disguise that i was fired and so after that had happened i had done uber and lyft and amazon deliveries and eventually that led us to starting our own e-commerce business and that plugged us into a lot of online groups and communities of people who were like us small business owners and i noticed that every time somebody would ask a question about personal finance your name would pop up and i had no idea who you were never heard of you before finally one day i decided to look you up online and it happened to be during one of your live shows i saw a couple do their debt free scream and after that i was hooked i started listening to your show regularly read the total money makeover put together a budget but i knew that none of that would um happen unless we were both on the same page so i told him about financial peace university and he agreed to take the class with me and at the time we found out that we were pregnant so we were very excited at becoming first-time parents and it gave us even more motivation to want to get out of debt but while we were doing fpu unfortunately that first pregnancy ended in a miscarriage and so that was one of the hardest things that we went through on this journey because i lost all motivation i didn't want to talk to anybody didn't want to see anybody and it took time to heal but we got through it we graduated from financial peace university and zack was 100 on board and we both started attacking our debt together way to go you guys awesome you fought through a lot yes we did job loss and uh miscarriage and everything wow that's a lot to fight through a lot of adversity yeah 44 months you kept going and kept going it can go scratch your way through all that you're gonna make it yeah that's pretty cool all right cool and you brought uh your little daughter with you what's her name a rainbow baby bella gloriana all right yes bella for beautiful right yes all right uh she's ready to see it is beautiful she's ready to see mom i love it way to go what do you tell people the key to getting out of debt is um well because we're a married couple definitely being on the same page none of this would have happened if we didn't share the same goals and the same dreams of wanting to change your family tree and to build a better future for a family and for me it's budgeting i do i run analyze online e-commerce so it's a lot of purchasing selling what not and communication has brought us closer together even though we were you were married for seven years i mean and together for 17 we never talked about money until just a few years ago and another key for us is um giving generously before we would only give like a dollar here a couple dollars there because we were scared that we weren't going to have enough money but when we started the baby steps we started tithing regularly to our church and that became the top line of our budget and every time an opportunity came up for us to give cool then we would and we we realized that by being generous and giving and putting kindness out into the world god has blessed us in so many ways oh yeah so we're very grateful for all of that that's fun way to go what's the name of your church um saint charles bromeo catholic church in north hollywood cool and where did you go to financial peace university um shepherd of the hill in um porter ranch yeah yeah very good you guys well i'm proud of you thank you you're your biggest cheerleaders uh i have a friend that i speak with daily uh he he runs the e-commerce business as well his name is jeff hey jeff and um we actually we we kept to ourselves mostly because we knew that a lot of our friends and family wouldn't understand what we were going through you know we're all conditioned to believe that debt is normal that student loan debt is good debt and that it's necessary to have a good credit score and we hope that our friends and family that are seeing this today will realize all the sacrifices that we made and why we had to say no to them so many times and that they realized um that they were sorry and that they realize that no debt is good debt and that um real wealth true wealth doesn't come from a high credit score hey man where'd it go you guys i'm excited for you dude yeah just watching you too love that little baby girl it's so cool and she's not going to experience any of this stuff she'll go through her life's hardships but she's not going to have this road blocking farmers congratulations guys thank you we got a copy of the legacy journey for you that's the next chapter in your story for sure is that changed legacy way to go and a copy of the total money makeover and you can of course give that to somebody and pay it forward and get things moving so proud of you guys welcome thank you zachary tracy and bella beautiful bella los angeles 150 000 paid off in 44 months making 78 to 150 count it down let's hear a debt-free scream three two one [Applause] cool man that's fabulous i think little bella was a little scared i don't know i think she's heard her parents yell like that before it's all good that's so cool man that's so fun what a great celebration very very very well done open phones at triple eight eight two five five two five griffin on twitter says john how do i find a balance between being a workaholic and being on dave's program during and after fpu it's so hard hmm i think you've like you've got to have a mission you got to have a destination and a deadline and you got to do the math and you got to work really hard that's gazelle intensity right and working a lot of hours does not mean you're a workaholic no that means you're in a season that's a hyperbola bunch of drama that's exactly what that is the definition of a workaholic is someone who's an addict to work who's trying to achieve for their self-esteem right and it goes on for years and years and years yeah and this is not someone who's trying to earn their way trying to that's right someone working to hit a goal in a healthy manner and putting in a whole ton of hours for a short period of time living like no one else so later they can live like no one else working like no one else so later than work like no one else is not by definition a workaholic that's what somebody calls their friend when they used to hang out and now all of a sudden they're working really hard so they can get out of debt and you say you're just a workaholic workaholic he's we should talk to him yeah no he's got a goal in mind he's laser focused on something well i mean uh i think the word is just misused yeah a lot and sometimes it's done facetiously and sometimes it's just people have a bad definition of it my wife has said in the past she goes you know back during those times you were kind of a workaholic and i really wasn't i've never in my life drawn well i'd say maybe in my early 20s i did but other than that i have not drawn my self-esteem from my work or my accomplishments see i have i've had seasons where i was on call 24 7 and then joined the police force and then was working and then you're not working for a goal then you're working trying to fill an empty hole that's exactly right and that whole no matter how much money you make how much you can't throw anything you cannot fill it you cannot fill it up that's right that's all that's working that's a workaholic that's a holic something you know it's something aholic that's right when you're throwing stuff in that hole that's what you're doing but just simply working hard while you're in financial peace university working three jobs and a crush out of that so that you never have to again that is not the definition of workaholic call the champion go get it brother yeah that's it this is the ramsay show [Music] [Music] our scripture today romans 1 16 for i am not ashamed of the gospel because it because it is the power of god that brings salvation to everyone who believes general george patton said better to fight for something than live for nothing ishmael is with us in denver we got him back talking about his trucking company if i remember you so ishmael i was asking you before we lost you you have one truck and you drive it or you have a whole staff or what uh no sir i drive it basically dispatch my own loads yeah your trucking company is you and a rig yes sir okay that's why i wanted to make sure i understood what i was talking about okay so the budget for your business is you're already doing one we're just gonna formalize it and make it more accurate because you're forgetting some things you already do one in your head because that's why you take a uh you know you're you're you're dispatching your own loads so you take a load and you know it's going to cost you x number of dollars in fuel and some maintenance to get that load to its destination right yep and you take that load and you know about how many loads you're probably going to get in a month because how long you've been doing this for a little bit for a little over three years okay all right so you know pretty clearly then you know in a given month typically in a in august you're going to make uh you're going to make so many loads and your gross revenue is going to be x you probably could tell me pretty close to what august is going to look like if i asked right yeah bare minimum i'd say like uh about um 20 000 maybe yeah top top line before expenses and you might that's the bare minimum so but more than likely you think you'll make how much really what's your real uh not not not way over but not way under yeah i would say about twenty five thousand that's what i would like yeah okay good and if you made twenty five 000 you could probably tell me what your expenses would be fuel for one would be fairly easy to calculate right yeah my fuel runs about like 1500 a week and then and then if you do 25 000 worth of loads you're gonna have fuel of six thousand bucks is that all uh close to that i would say um well it's a little bit more some yeah lately it's been right on the rise okay so what we're doing is we're doing august budget you're following me correct i got 25 000 at the top i'm gonna spend i think seven thousand four hundred dollars on fuel because it's on the rise and we're gonna do four weeks worth of 1500 plus a little bit on the rise and we're got a pretty good month going here 25 it's not a bare bones month um and then what kind of repairs would you have in your typical month uh i'd say about um anywhere from like 15 to 2000 maybe all right let's call it 2 000 we got 7 000 in fuel that's nine what are we gonna run our uh our food cost out while you're on the road you see what i'm doing here i'm just laying it all out i want you to just put this on a piece of paper you can do it with a blank yellow pad if you want yeah okay that's a budget that's a budget you're predicting your revenues and you're predicting your expenses thereby you're predicting your profits before the month begins and when it comes to your debts that you have you're going to put them in order smallest to largest and you're going to begin knocking them out one by one by one yep exactly in that order and there's not a business debt because you signed personally for it so it's all your debt you got 32 000 on the business but you signed that personally and you got 21 000 on personal but you signed that personally so you know you've got uh what 53 000 worth of debt you got to clear here and you can do that because you're probably making yeah you're probably making close to 100 a year profit aren't you um get close to about uh last year i think we were about 75 yeah we were after expenses that sounds low but uh but you go back and run it again i mean you got your actual taxable income you could look at your tax return and tell that but yeah so if you got 75 and are you sleeping in the rig uh no no sometimes i'm over the road but most of the time it's mostly local so uh my rent's about 680. okay so now we're starting to run your personal budget what you're going to do with your 75 or your 85 and then how much of that we're going to be able to apply to this 53 000 in debt so i'm going to predict that you're going to be out of debt in under two years okay and if you get an ice chest and go to a grocery store and make your lunches and your breakfast you can get out even faster yeah because this is i mean 25 000 a year for two years out of 75 would be 50. okay and that'd be you'd be debt free in two years and i think you can do it faster than that because i really you ain't anything to do but work and get out of debt that's right that's all you got to do for the next 18 months i think you can get there but you just need to get real business-like about your uh trucking budget which creates your profit and then get real business-like on that profit and what we're going to do with it you need to set 25 of it aside for taxes when you figure out what your profit is because you're supposed to be paying quarterly estimates on your profits and if you don't you're going to get a problem so uh that that's the process and uh you know you just gotta get out stay up with your taxes and then you you know pay your rent pay your light bill by pay your food bill and get out of debt and this is what we're gonna do and it's all gonna be just written down ahead of time on paper on purpose before the month begins dave do you recommend somebody pull out depreciation on something like that nope okay no what i would do is i would set aside repair money okay on a truck if you don't spend it because you may not you may not have an expense on a repair this month but you will within some period of time so just say on average if we drive that many miles in a truck you're going to have x number of dollars in a year of repairs tires and breaks divided by 12. okay and i'd be setting that aside monthly so that when that repair comes up you've already put the money aside for it in a sense in an all in a truck repair envelope in a sense okay so you're you're setting that aside all the time because typically you're not going to have an even repair budget month to month to month to month even on your personal car you don't yeah so uh yeah that's a good way to do it all right pragati is with us in jacksonville florida did i say that right pragati uh it's pregnancy how are you doing i knew i was gonna mess it up i'm great i'm sorry i messed up your name how can i help uh so yeah i'm a college student um i've been working doing an engineering internship since january so i have some safe money and i'm going back to school in three weeks so i owe about ten thousand dollars but i'll probably won't need it until i graduate which is in december of 22. i was wondering if i should invest it should i split it up and invest 50 percent and put some in savings or what should i do with it i'd leave it all in savings and not touch a dime of it and pay cash for everything do you get out of school this is your insurance policy that you graduate and graduate with no debt okay because the chances of a tire blowing of you getting a job interview but you got to fly yourself there on a week's notice or these expenses are going to pop up in your last year keep that money in account don't spend it and you will be set up to win we're spending it on you and you completing this education and you transitioning into the new job that is a better investment than an investment i see do you suggest i still have about 6 000 in my savings account do you suggest um should i put maybe 30 to 40 percent of that 10 000 into high yield savings for a little bit um high yield savings is an oxymoron there is no high yield savings high yield savings is one and a quarter instead of 0.75 and you lock your money up it doesn't matter yeah you're not going to make enough on it to matter i mean if if you made twenty percent on ten thousand dollars is two thousand dollars that does not change your life what changes your life is you completing your education and you going and getting the new job that's worth a lot of money and then in a year if you get there and you've got the car you've got the clothes that you need for this new job you're ready to rock and roll and you still have 16 000 in the bank then you get into investing yep good for you though way to go great so proud of you very very well done john goodaur john dr john deloney check him out on the dr john delony show our very popular podcast from ramsey networks uh james charles is our producer kelly daniel is our associate producer and phone screener i'm dave ramsey your host 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 jesus is james childs a producer of the ramsay show you can listen to all our shows with the ramsay network app on your smartphone browse by topic or even sync clips to your friends download the ramsey network app in your favorite app store today [Music] you

Channel: The Ramsey Show - Full Episodes

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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

Id: XmYMZoGPNa4

Length: 121min 45sec (7305 seconds)

Published: Thu Jul 29 2021