The Ramsey Show (August 3, 2023)

[Music] live from the headquarters of Ramsey Solutions broadcasting from the PODS of moving and storage Studios it's the Ramsay show where we help people build wealth do work that they love and create actual amazing relationships open phones Jade wash all Ramsay personality is my co-host today the phone number is triple eight eight two five five two two five we are breaking all records in Ramsey publishing this week with the launch of the pre-sale of Dr John deloney's new book building a non-anxious life apparently there's a need yeah man people I'm joining you guys too today just for a segment here talk about the book but yeah it's evidently we are an anxious stressed burned out culture man we knew this yeah statistically the stats were telling us the the statistics of Despair they're called are really in bad shape yeah and have been declining since well before covet and covet kind of put on the accelerator and highlighted it was there's problems out there yeah and it it's uh they're actually called the diseases of Despair when you kind of back out and look at the resources we have in our culture and the wealth we have in our culture and the just the technology and Brilliance there's really no reason why people are dying younger and why people are more lonely than ever and why marriages are falling apart and why the suicide rate is up so dig into this why depression is up why everybody is just rattled with anxiety and so yeah this book was just a hey what we're doing is not working let's let's look at this a different way we did a chapter book with John a couple years ago we call them quick reads the 37 Pages called redefining anxiety it blew up 150 000 copies out of the gate with no promotion and the whole idea of that book is woven into uh building a non-anxious life because part of building an unanxious life really almost the first thing you have to do is you have to grasp what anxiety is and what it isn't that's exactly right and the narrative we've been given is it's it's a genetic disorder like we talked about yesterday it's something wrong with you you're broken and we got to fix what's broken and really what anxiety is is just an alarm system man letting you know that you are not all right okay and so really you gotta back out of that thing and say okay not let's just pull the batteries out of the alarm but where's my house on fire where's the fire let's put that fire out well and like you quoted one author that said anxiety is actually good because it's telling you something's wrong Yeah Wendy Suzuki says Dr Suzuki says anxiety is a friend he's trying to get your attention and let you know things aren't okay yeah and uh it it it especially applies to this this conversation we have on this show on the Ramsey Show if you owe money you've been saying this for 30 years Financial Peace if you owe somebody money your your frontal lobe the part of your brain is designed for for a complex thinking and for projecting into the future it can convince you that that zero percent financing for seven years on that depreciating asset you got a good deal and mathematically maybe you actually did get a good deal the part of your brain that's designed to keep you alive knows if you say one wrong thing at work you're fired you lose your car you lose your house you lose your food and so when you owe money your body will not let you have rest and that we call that anxiety we call that burnout we call that chronic stress but that's just one example of the way our culture has just said here's the new way to do life forgetting that as vessel of intercourt says the body keeps the score the body will let you know that what we're doing is not right what I love about this book is you've uh broken it down into things that we can do each day right this is a lifestyle from here on out after we read this book right yeah and it's it's uh frustrating the problems not the symptoms that's right and it's frustrating um there's my buddy Elaine Norton says there's never a workout you can do on a Monday that's so great that you don't have to work out for the rest of the week or the rest of the month right second shape being healthy it's just a thing you got to do every day there's never one meal like one salad you can eat that's so great that just buys you Dunkin Donuts for the rest of the month right and so um similarly with anxiety I know Dave's like no no yes if you find it tell me about it um so when it comes to living a non-anxious life it's it's a way you got to live you got to choose reality you got to choose Freedom you got to choose friendship and connection you gotta choose to heal um you got to choose to believe in something bigger than yourself and so there's there's just these choices you can make on a daily basis a monthly basis in a yearly basis that are going to transform your life if you want to discover the six daily choices that will help you move towards one of them is getting your financial act together okay they help you move towards having a non-anxious life removing the things that are causing anxiety in other words filling up your tank things like quality relationships getting your finances in control it's kind of Common Sense stuff biblical stuff uh it's really not rocket science it's written in a way that you can reach the Shelf this book is on I promise you okay so it's right there where the cookies are you can get it so hey check it out uh it's a 20 book if you buy it in pre-sale it actually comes out October 3rd it went on pre-sale this week if you buy it in pre-sale we're going to bribe you to buy it early and give you 75 dollars worth of extra goodies including the audiobook and the e-book and they'll come out with the book but in the meantime instant access to Dr John deloney's newest talk smoke fire and freedom that breaks down some of the mythology and so be sure and check this out it's all mzsolutions.com ramseysolutions.com the new book is building a non-anxious Life by Dr John deloney uh his last one on your past change your future was the number one best seller again the little the little quick read was a massive blow up uh so this one will be as well without a doubt just because we're helping people with an area that they really need help with it's not it's not something we dreamed up it's something we recognized yeah and I I want to call out something you said a minute ago um I spent my last 20 years of my life reading academic journals talking with um scientists and Brilliant Minds this book isn't for them this book is for people who don't read books and who want a better life this is a book for people who are tired of being talked down at told that they're stupid told that they're dumb that they have a disease that they're broken yeah there's some kind of malfunction this book is for somebody who um wants a clear simple way to change their life right change change the the the culture and the warmth inside their home right yeah and I said this yesterday and I want to say it again this book's for everyone that's right whether you think that you've you might be sitting there gone you know I've got my mental health in order I'm doing pretty good I was a person who thought man I'm not really anxious I I'm good I read your book all of them redefining anxiety own your password this one and I'm like I'm well I'm starting on this one and I'm like everybody needs this well it will help everyone everyone that doesn't need a little more peace raise your hand and uh those of you that you know that raise your hand uh how long have you had a problem with lying I mean sure right the joke is either you're struggling with this or you're married to somebody who is okay so it's in your house it's somewhere you just walk past someone I promise you so yeah and here's the thing if you have a broken part of your life that's causing anxiety taking a pill won't make it go away right and the people that think taking a pill makes everything go away are not gonna like this book well in Medicaid I talk about my journey with medication what medication does is it turns the alarms down and allows you to go do the work that you need to do but dedication not all medication is bad we're not saying that but it doesn't um it doesn't make you not anxious forever it doesn't solve the problem right it allows you to get under the hood get in there and do the work that you need to do that's right the spark plugs are not well the fuel injectors they are not cool yeah if you're not interested in doing the work kind of like getting out of debt if you're waiting for Washington to come save you it's not the book for you if you are ready to take control of your life back this is this is the book for you building a non-anxious life Dr chandeloni at ramseysolutions.com [Music] [Music] thank you [Music] foreign buying Market but there's a way you can get an edge Churchill Mortgage works with you to understand your budget and your goals and the Churchill Mortgage home buyer Edge offers you fast pre-approval and a secured interest rate plus Churchill has bumped up their seller guarantee to ten thousand dollars giving your offer the best chance of being accepted and helping you win in today's market go to churchillmortgage.com today to learn more [Music] thank you [Music] Jade warshaw Ramsey personality is my co-host today Peter is with us in Canada hi Peter welcome to the Ramsey Show um so I'm currently entering my third year of University I'm married me and my wife have been very financially independent we're both in school we're both foresee being able to pay off for our school uh just through hard-earned cash while just doing summer jobs wonderful um we've been doing them we've been kind of realizing you know that the student loan rate in Canada we don't have interest on our student loans and we don't start paying until six months after graduate and so we were wondering are we thinking about maximizing out the student loans we can take outs and putting it aside in a separate High interest savings account uh maybe even in invest into some short-term bonds and then when we graduate uh take all that money out uh pay off our student loans in full and then you know keep the keep the money that we made from from the interest my question is uh what what I know that you're very adamant about staying out of debt if possible no I'm just very good not not if possible I'm just adamant about staying out of debt period right but let's go ahead how much are you talking about doing how much money uh me so about fifteen thousand dollars uh a year for me and my wife so that's about thirty thousand dollars each yeah so sixty thousand dollars yeah okay and and the uh bond rate is what it's about five and a half percent okay okay all right so three thousand bucks um that's what you're gonna make per year that's what you're gonna make three thousand dollars and what's your degree in Finance yeah okay um and you're in your third year of Finance degree no so I'm just doing Bachelor of Commerce currently uh majoring majoring in finance yeah going and going into method um have have you ever had a statistics class yet not yet not yet okay I can tell okay um go ahead Dave um so here's what you're missing risk the only way your program works is if there is a zero risk scenario which does not exist okay so the problem is you call the guy that's been doing this for 35 years so I've seen everybody do every possible stupid butt thing they can do in their lives or have horrible tragedies happen to them in their lives that you have not anticipated or oh maybe the bond market has a problem that's never happened has it of course that happens all the time and so maybe you don't make three thousand and uh maybe oh have you did you know that bonds go down in value when interest rates go up you know it's an inverse relationship yeah yeah and so you're going to take out a sixty thousand dollar loan with sixty thousand dollars worth of bonds interest rates go up now your bonds are worth fifty thousand dollars but you have to repay sixty thousand dollars you know values go down when interest rates go up it's an inverse relationship with them on the market to interest rate somewhere in the rising interest rate environment aren't we is that that's called a risk okay so your plan is um not good it's left out key components which makes it really really risky and naive that's problem number one with it problem number two with it is you are trying to make money doing nothing making money doing nothing usually will cause you problems so don't try to make money doing nothing problem number three is I'm pretty sure I'm not positive but I am just about positive that the government of Canada did not come up with a student loan program for Peter to invest in the bond market meaning that you are misusing these funds which is not illegal but it is at a minimum unethical or immoral I agree with that so um lots of reasons Peter to not do this lots of reasons you do not anticipate risk another way that you can if you're ever faced with something like this again that help you feel the risk is just take your proposed scenario and multiply it like 10 or 100x and see if it doesn't make you want to throw up a little bit that's so good then you really see the gravity of it so in other words what you do this with six hundred thousand dollars if you could do it would you do this with six million dollars if you could do it oh no so now you're starting to feel like oh God something could go wrong well if something could go wrong well dude something could go wrong and let me just tell you it's not something good it's pretty likely to absolutely it's pretty likely to so um yeah it's just um an all for three grand that's my thing it's not even a lot of money go deliver some pizzas and get you some three grand for a year yeah I mean that's just not a lot yeah you are playing with a barrel full of snakes for three grand hoping to not get bit so um there's the problems with your theory and because your theory is empty it's missing entire sets of variables that when implemented make this really unattractive and you forgot the ethics and the morals part of it too which will also Lead You astray and get you into problems so Dave that was good I was expecting you to really go into one of your Dave modes well you taught you taught the thing is I um I it wouldn't have been fair to him that's true yeah no you caught so he had to uh because he doesn't know and he didn't call up with an arrogance he was asking an honest question and he just didn't know so it wouldn't have been fair to him to kill him um as tempting as it might have been I was I was I was giving you the energy yeah I know you were you were I I felt it I felt you egging me on it's almost as bad as when Sharon does that but yeah oh my gosh no I mean he's a he's a good guy he just hadn't thought about some of the stuff because he's young and I'm glad he called in because I know a lot of people have fooled around with that idea in different types of way basically taking debt to invest it so yeah so for those of you over in the nerd side her head are still spinning the reason I ask about statistics class was not to be sarcastic but um in Stat one the first class you take they will teach you uh a measure of risk called a beta and a beta is the the distance between the hill and the valley if you look at a graph and it's going up and down like a mountain in the valley the distance between the bottom and the top is your beta okay so and and so in an investment analysis a beta is your measure of risk and so for those of you out there doing your Investments you'll see it actually it's one of the people is you actually do see it in the real world other than stat class is with mutual funds so a A in the in the United States the standard and poor the S P 500 is the measure the Baseline of the stock market it is a 1.0 beta so it's your Baseline okay okay so if you have a mutual fund that has a 0.8 less than one that means it's less volatile than the stock market if you have a mutual fund for instance an aggressive growth stock mutual fund might have a 2.0 beta which means it's twice as volatile as the s p Baseline okay the standard poor Baseline so you see it there but what happens is people do not apply that type of mathematical thinking and formula which that's an actual math measure of risk no people don't apply that to debt and see he left he left risk out of his math formula yeah he did so he's thinking okay I'm going to make 3000 sixty thousand but I did not adjust my returns for risk and that's why I was asking about that because you adjust it for risk and this is really a a an egghead explanation of why God says in the Bible that the borrower is slave to the lender slaves don't have choices slaves are seldom generous so slaves lose their personhood and this is what happens when you step into the Noose of debt because you haven't measured risk adequately very good so this is the you know you look at it through a Biblical lens a spiritual lens the lens of faith we can look at it through the academic lens we can look at it through Grandma's Common Sense grandpa says Sean you bought that car it didn't work that was my grandpa drove up in a new Jaguar I was a millionaire my grandpa looked at me like I'd lost my mind he goes 10 years what's that car going to be worth and I said not as much and he said well I call my investments things that go up look at that Grandpa was right this is the Ramsay show [Music] hey guys being free to make your own medical decisions is a big deal these days Christian Healthcare Ministries gives members the freedom to choose the doctors and providers they want without the frustration of worrying about networks and with no waiting period to join it's a membership-based non-profit Ministry where hundreds of thousands of Christians share funds to pay for and pray for each other's medical bills for over 40 years chm has helped families living across all 50 states so cfchm could be right for your family check out more today at chministries.org budget [Music] thank you Jade Warsaw Ramsey personality is my co-host today in the lobby of Ramsey Solutions on the debt free stage Carrie and Liz are with us hey guys how are you how you doing Dave welcome welcome good to have you where do you live Kansas City all right fun welcome to Nashville and how much debt have you guys paid off 424 thousand eight hundred dollars love it very good and how long did this take three and a half years all right and your range of income during that time anywhere from 2 30 combined to 350. yeah you got to be filming what do you all do for a living I'm a neonatal nurse practitioner oh there's that okay and I'm a project director for a general contractor okay I was gonna guess house but now I'm going to guess student loans yes amazing nurse practitioner wow what a cool job I mean wow what a neat thing you do every day and how expensive to get that degree right yes all of the above yeah all of the above wow that was the uh the house as well oh how did it went down it was the house oh okay cool congratulations I'm looking at weird people all right what's the house worth about 530 way to go and how much are the four 25 was a house uh 340. so it really wasn't that much student loans okay 85 was the student loans okay not not doctor level student loans anyway huh okay good it's good for you that's pretty close I mean 85 not not 385 okay good good way to go guys congratulations man that's gonna feel great the student loans the house everything gone yep all all gone that's great my thing is like you've got these great incomes but you clearly did not let yourself have that lifestyle in order to pay this debt off yeah that was a goal for of ours for sure what what was what started all of this three and a half years ago so about three and a half four years ago uh my Aunt Kim she went through the the journey as well and she gave us a free sample of The Total Money Makeover so we listened to that um and went home and that night I couldn't sleep so I ended up paying off like two thousand dollars in credit cards um like three grand and uh my car at the time and then we just kept that momentum going wow wait a minute when Liz woke up you've been up at the computer doing this that's what I'm thinking so actually a little bit of our history here um why don't you go ahead okay um so I was in the middle of school I graduated in 2019. um but prior to Carrie and I went to college together with my late husband so they were actually like best friends um so when Matt passed away in in 2018 um I was lucky enough to have a term life insurance policy through my employer for 200 000 so then when I graduated in 2019 I actually put that money paid off my 85 000 um in student loans using that money and then invested um the rest of that so my daughter Sylvie is here today and she's um Matt and I's daughter and Carrie is going to be adopting her here within the next month so wow that's wonderful yeah it's a really cool story it was a great story um we have a lot of a lot of history together but um definitely always been on the same page as far as what we wanted our Legacy to be for our family so yeah your uh I mean with that tragedy you obviously had a complete reset emotionally and you don't have a choice but to uh make serious things serious yeah after that and so we're gonna clean this mess up this is serious it's not this is not a couple of children trying to figure out what I'm gonna do with the candy yeah this is all of a sudden real serious and so so what happened to Matt he was unfort it was a tragic death but um it's a professional for many years and unfortunately um became addicted to opioids and so it was a long road um and you know for a long time we couldn't talk about it it was kind of like the elephant in the room but I'm at a point in my life now where um it's it's a part of my story it's a part of our story it's a part of Sylvie's story it's been over overcoming the whole process definitely and so um you know he was a wonderful wonderful person and I like to remember him for absolutely for all of the good things and um you know it is he left me with her and wonderful memories and so for that we're very grateful amen wow amen incredible so then the two of you get married three and a half years we've been tearing into this debt way to go a couple of Heroes coming the other side of that tragedy and gonna we're gonna make something beautiful out of this whole thing way to go good work uh what do you tell people the key to getting out of debt is and definitely having a plan uh we're both very fortunate growing up to have our parents kind of instill savings and being intentional um but really again we started listening to the show three and a half years ago it kind of gave us a plan to and it gave us the ability to start setting goals and realizing what what we need to accomplish there and just since we've been married you know even prior to that just being on the same team um life throws a lot of challenges at you but if you can stick together you can you can get through it also amen that's a word so you've got no debt in the world not a house thing yeah yeah what's next on the horizon so we got married last October um and we held off on the honeymoon a little bit we just got back from South Africa wow so we've done that for a week and then we did the Seychelles nice nice that was kind of the honeymoon slash uh debt-free that is great expensive so we cash flowed our not very cheap honeymoon so that was part of our plan and and we achieved it we saved up money as we went along and you know we paid our money our wedding off um before it even happened so that was also you know not in our debt at all um big that was a big goal of ours as well so everything that we say we're gonna do together we do so just making sure you're on the same team yeah I'm making 350 now not a debt in the world not a house or anything way to go congratulations you are amazing wow and what over what the stuff you've come through and overcome and it's just a process man it's very beautiful very well done absolutely very cool all right let's bring Sophie up how old is Sylvie she's six did I say her name correctly you did yes all right she's so cute she is beautiful yeah oh what a blessed kid this is awesome yeah are you ready her life is absolutely changed hey we've got the uh live and give box for you which includes the baby steps Millionaire's book if you're not there you will be shortly with these numbers and The Total Money Makeover book for you to give and get somebody started like you said somebody loans you The Total Money Makeover and the financial piece university membership again use it or give it away congratulations you guys you're amazing thank you what a beautiful thing you've done I'm so proud of you Heroes well done well done all right Carrie and Liz and Sylvie Kansas City 425 000 paid off in three and a half years making 230 to 350. count it down let's hear a debt free scream three two one [Music] wow wow wow just in case uh you are facing the most unbelievable tragedy of your life today you can look at them and say four years five years the other side of it look at what is here I mean my goodness gracious so um you know the The Sun Will Come Out Tomorrow that's right several takeaways from that story several very good hope yes yeah in so many ways because I mean when you get you go through something like that it it's it's it's hard to believe it's ever going to get better that's right when you're in the middle of it and boy what a beautiful gorgeous outcome yeah beautiful just fabulous and just I mean a power couple the future is so bright for them they've got so much going there's so many things they can do there and all because they said okay we're going to be very intentional we're gonna have a plan we're going to be on the same page we're going to work a plan and they didn't give any different answers than a lot of debt free screamers give but boy they did some big numbers well and you can tell they have an immense confidence in each other and the when the ability of when they both say we're going to do this like she said they do it yeah you can see it in the body language you can yeah that's very cool Power powerful rock stars heroes well done this is the Ramsay show [Music] thank you [Music] [Music] Jade warshaw Ramsay personality is my co-host to the Ramsey Show question of the day is brought to you by neighborly your hub for Home Services neighborly is the place to find Reliable help for your home from trusted locally owned businesses like Mr Appliance Mr Handyman and Precision garage door service visit neighborly.com today to find home experts available to serve you today's question comes from Peter in Alabama I have a question about one of my best friends I love him and his family to death but his financial management is beyond horrible and it hurts me to watch someone I care about so much make idiotic mistakes and dig himself into a hole that only gets deeper as time goes on he is not one to ever talk about money but I know for a fact that he is dealing with a big student loan and credit card debt I would love to help him and turn him over to your show and the baby steps but I also fear he won't respond positively to unsolicited Financial advice my question to you is how would you approach this this kind of situation you know these situations there some of it depends on the relationship obviously like I've got there's certain buddies of mine that I'd be like look I'm older than you I know what I'm talking about then there's situations where I I probably wouldn't say a whole lot I'd probably just lead by example and hey this is what I'm doing and hopefully they catch on and then there's those times where you do bring up the conversation but it's not in like uh here's what you need to do dude you've been messing up man like you don't know what you're doing trust me listen to Dave like that's not the way to do it what you can do is say you know I remember when I had a time that I I remember when I had credit card debt remember when I had that thirty thousand dollars there it is it was crazy and what I did I found this guy he's on YouTube he has this book I started reading the book and I was blown away exactly don't talk about him at all yeah just talk about you and talk about back when you were stupid because we all we all can go back there some of us it was 20 minutes ago some of us it was 20 years ago but we all can go back to stupid and go I remember when I had a big student loan how scared I was I remember how I felt like I would never get out of it I remember those feelings man I tell you what and and man I used to fight people I would argue with people about credit card points I thought you're gonna get rich using credit card points how dumb I was I can't believe how stupid I was and you know what I found some new information and you know what I did I worked my butt off and I worked this plan that this guy on the radio these these people on the radio at Ramsay they talk about and I got out of debt and man oh you wouldn't believe I could sleep better right I might I feel like I got a 300 pound man off the chair off of my chest you know I was standing on there I mean and I feel so much better and just talk about you and he'll he may just look at you like you have one eye he might or he might look at you and say wow that's pretty cool who who'd you say that podcast was yeah that may be what he does because he's pretty he's probably not going to say hey man help me do my budget no he's probably not going to go completely over to the side but you just tell him about you you got to talk about it like you would if you if a restaurant you loved or Netflix show that you loved you wouldn't go and go wrong and all the shows you like suck watch mine you wouldn't do that you just say I'm looking at the show I love it yeah it's great it's so good it's so entertaining that like you gotta talk about it like that that way you're never pointing that finger in their face and you're not telling them anything bad about themselves exactly just just share your experience because really no one can argue with your experience that's right I mean this is what happened to me I don't know what I mean this is what happened to me and you really and my old Pastor used to say used to say a man with an experience is not at the mercy of a man with an opinion facts it's not like I'm I'm it's just like come on man you know yeah I used to eat 63 donuts and I quit and I feel so much better now that I'm not so stinking fat you know look I got more energy you know I do that's true you know and so I got more energy you know my wife likes me better life is good so you know I'm just recommending I'm just saying my life is good and man you know so if you come to me and say Jade I used to eat 65 Donuts every day I feel great what is it I used to give me a hint no no not you at all I wasn't saying that to you I'm just saying I'm just saying that to America America Josh Josh get us out of this Josh is in Bristol hey Josh how are you I'm good how are you today better than we deserve sir how can we help yeah um before I start I just want to say God bless you all guys and thank you so much I've been watching a lot of your videos here recently and I'm working on the baby steps well thank you sir we're honored to have you in the audience how can we help today um right me and my wife are halfway um done with baby step one and I had a car problem I got my car paid off a year ago but it's it blew up and I need at least vehicle that I'll have the cash change and just buy one and I'm I'm gonna try well and I'm becoming very anti-death too but the only way I know how to do that is get a small car loans under 10 000 preferably seven do you do you don't have any money uh nothing saved up okay what's the car the car you were driving what was it worth before it blew up uh I don't know the kellen's blue book it was a 2007 Toyota Camry okay so what would you think it was worth what would you guess I think I could probably sells around three thousand before it blew up yes sir okay all right so there's no need to get a seven thousand dollar car then you were driving a three before this happened right okay so we could buy a three thousand dollar car and break even let's start with that what's your household income um our time we uh a month we bring in the four thousand four hundred and eleven dollars okay good and how much is your rent uh we don't have renter mortgage my wife inherited their house by our grandfather who passed away a few years ago that's good news okay and uh both of you work outside the home yes sir okay and and you currently have one car that's running right yeah it is it's all alone it's my wife's truck it's uh we pay for 75 a month for it okay so it's got a loan on it but you own you own one other car a 500 car payment on a four thousand dollar take-home pay ouch that's no fun um and uh you don't uh you don't own another car right you don't own a third car do you know sir okay what's your tractor worth I don't know what's right what's your lawnmower worth there's gonna be real embarrassing I don't have a loan okay it's not embarrassing what would be embarrassing is if you told me you had a seven thousand dollar zero turn that would be embarrassing okay because I'd be selling it to buy you a car okay so you're doing good Josh you're passing the test so far you got a lot of common sense I'm just looking around here because sometimes sometimes I just got married five months ago okay good very good so you married this car payment okay okay um what do you do for a living I'm a housekeeper at a university okay yeah my wife my wife's a welder in a factory excellent excellent okay all right so your car with the blown engine will probably bring 1500 at the salvage yard maybe more I hope so that would be a lot more than I was thinking yeah a thousand to fifteen hundred it'll bring uh or some old boy I'll give you that because he's going to put an engine in it okay um yeah I don't want you to put an engine in it you don't you don't fix three thousand dollar cars those are throwaway cars okay all right um so I'll tell you the you can go the route you wanted to go but I wouldn't recommend it and you're brand new to our stuff so our stuff can sometimes feel awfully extreme but one of the things I found is if I'm going to break a series of bad habits or principles in my life I have to adopt the extreme to complete the transformation in my heart okay so when we went broke Josh I drove a borrowed car for four months I'm not suggesting you have a car you can borrow but I'm just telling you how what I did okay what I did was I drove a 1978 Cadillac with 478 000 actual miles on it the predominant color was Bondo and the vinyl roof was torn loose across the front so when you drove it it filled up with air and looked like a parachute on a Bondo buggy it was the most embarrassing hillbilly car you can think of and I drove that car for three months one ten year period it's what it felt like 10 years it felt like 10 years it was only three months but buddy I saved some money during that three months because I'm getting rid of Bondo buggy right highly motivated that's what I was so I'm gonna suggest you do something weird like that like let's sell this car for 1500 and go buy a 1500 car that runs and drive it for four months and during that four months oh you can buy it it's a garage sale car it's ugly it's got a hail dents in it but it runs oh you want something that runs you get in a garage sale that's where you get it you got to air the tires up and that and you drive that car for four months it's Jade look if you like what you heard in this episode and want to know more about getting started on the Ramsay baby ramsesolutions.com and click the get started button we'll help you figure out the best next step for you based on your specific situation that's ramseysolutions.com and click get started [Music] [Music] live from the headquarters of Ramsay Solutions broadcasting from the PODS moving and storage Studios it's the Ramsay show where we help people build wealth do work that they love and create actual amazing relationships Jade wash all Ramsay personality is my co-host today as we answer your questions about your life and your money open phones about triple eight eight two five five two two five New Orleans is calling Britney is with us hi Brittany how are you Louie how are you Dave thank you guys so much for taking my call our pleasure how can we help all right so I'm on baby step two currently but I'm looking to move closer to my job I currently have about an hour and 30 to 2 hour round trip daily that I take good looking closer with him yeah we'll put me at about a 30 minute commute daily but the kicker is currently I'm only paying 800 for rent but I do spend about 600 on gas every month moving I would go up 700 in rent but I would probably cut my expense on gas to 300 I currently make about 10 to 12K a month but I have about 50 000 left in debt to pay so I'm trying to decide on what do you do I am a school social worker but I do have two other jobs that I'm working right now to really kind of get out of business up to a little quicker so if I did that math right real quick it's a 450 swing that you're you would lose by going 30 minutes closer or by getting it down by getting it down to 30 minutes yeah yes out of and you're making 10 to 12 000 a month yes doing what it's not social work what are you doing so I do social work I also am working at FedEx FedEx currently okay um part time in the mornings I do counseling um in the afternoons as well and I do have disability that I get from the military so all in total about 10 or 12K okay thank you for your service which one of those is the big number um I would say the big number is my disability all right okay good how much is that about 3 900 a month okay so you're getting like three or four checks for three grand four grand okay good yeah all right uh yes I'm moving closer yeah probably not where you think you're moving yeah uh I you know here so I I think there's a third option uh C which has moved closer for rent that's about the same I don't think you want to go over there or out that far in the country or whatever that is and I don't want you to be in a situation that's unsafe I'm not suggesting that but um so where when where are you commuting what's the big commute the counseling or no the the it would be the social the social work right yes so Telehealth okay anywhere good good call okay thanks for the clarification that's good so anyway what I'm what I'm going to suggest is you keep looking mm-hmm because I think you're I think you have a valid point but I also think you can do it cheaper than what you found in the area you need to be in your rent would go from 800 to 1500 a month yeah so what area are you in now currently saying [Music] [Music] you're working what yeah in Destrehan oh yeah okay all right um how much debt do you have you said you're in baby step two how much do you have yes 50k okay I missed that okay so all I'm uh yes you need to do something okay I wouldn't commute an hour and a half in in the New Orleans Market that's not a normal commute in that market it might be in LA but it's not in New Orleans okay so um I commute 12 minutes so I'm not going to do this okay period I'm gonna suggest you do something that direction but I'm also going to suggest that you shop more and find something closer to a thousand which makes this make a lot more sense so what I'm challenging actually more than the idea of moving is uh the idea that you have to move to that particular place that particular thing so I I want you to go find a rich old lady in Bethlehem that has a uh has a a garage out back with an apartment over it that a friend at the church tells you about that's never been on the market for rent and you go out there and you rent from her for 800. I want you to find the weird thing like that instead of just walking up to the shiny apartment complex that has a management team out of Atlanta yeah you know and I want you to go get I want you to go get the weird thing that that is perfectly safe and perfectly clean no roaches no mold I'm not suggesting this stuff okay but but what you can find is I mean you can go to the richest end of town and find a garage apartment if you know where to look and know who to talk to and someone believes you're a good person to have in the corner and um I don't know maybe you offer to do something for the rich old lady to take care of her in the process or you talk to her relatives and they put you in there in your house sit I don't care but let's get a little more creative and get this rent down yeah I'd be a month like she's killing it you're killing it I'm trying it works all the time yeah and you're not going to do that probably forever but it's just you right you can live on yeah hardly any anything yeah it doesn't take much space for you because you're over there in a normal life the 1500 wouldn't be that bad it's just well I'm more I don't even mind the 1500 in this case yeah but what I'm trying to challenge is this idea that uh the we always propose these two things and neither one of them are good high rent and it's close right or low rent and it's far how about low rent and it's closed let's look for that one that's all I'm saying we immediately we immediately think if I lose my job that I'm going to get a job that pays less why not lose my job take the severance pay and get a job that pays more and keep the severance paying call it a signing bonus why not think about how a glass half full there's always a different way and that's the critical thinking I'm always trying to push on that's what I'm doing here that's a good word so you're you're awesome I like you I think you're going to do great I'm proud of you Brittany you're attacking this you work like a maniac and you're going to clean up your debt it's going to be done in no time at the way you're going but just rent find something that that you can write about when you write your story someday that I found this cool situation like I was telling that guy a while ago about that car you know I mean that kind of stuff yeah so yeah you got to have something like that in in the mix um and here's the thing the thing when you buy a car when you commute when you uh rent mm-hmm very seldom for long that's true that is very true we act like we're doing this for 20 years now in her case it's going to be you know it's just a hand it's just a spit yeah it's just spit it's not it's not very long and so in the scope of your life a year two years 18 months whatever it is you can do anything for three months yeah I mean you know so true and she's got more than three months to go but I mean the the we act like these decisions are so permanent but yeah there's no way I'm commuting an hour and a half I'm moving oh that's terrible that's torture two hours no thank you even if you listen to Ramsey show the entire time this is the Ramsay show [Music] [Applause] [Music] thank you [Applause] [Music] [Applause] [Music] hey Dr John deloney here I'm a huge fan of both meditation and prayer and good mental health includes slowing down gaining control of your thoughts and plugging into something bigger than you and Halo makes it easy to start a daily practice of meditation prayer and finding peace Hollow is the number one Bible app in the world and you can tailor content towards your faith tradition from scripture readings and prayers to meditation and journaling hallow makes it easy to practice prayer meditate and build a deeper more meaningful spiritual life and ReDiscover true peace go to hollow.com Ramsay today to get three months of hallow for free that's hallow.com Ramsay [Music] thank you [Music] Jade wash all Ramsey personality is my co-host today open phones are triple eight eight two five five two two five everybody's talking about student loans yes they are and since the government isn't going to forgive them which we knew no one is shocked that that thinks clearly it's not a spoiler alert no no wasn't gonna happen been saying it wasn't gonna happen everybody's mad at me because I said it wouldn't happen and then I'm right they're mad at me because I was right so there you go so get over it you're gonna have to pay your student loans here's how it works now but we'll help you with that that's the point that's been the point from the start yes we're not going to pay them for you we're not going to forgive them but we're actually going to do what we've done for millions of people and show you exactly how to get out of the student loan debt it's starting in October you need to get your freaking act together that's right this train is coming get off the track hello okay get out of the truck let it hit the truck but don't stay in the truck whatever that get away from the train really the good news is for Mo almost all you I'm gonna help you find not only the money you need to make that payment but more yep it's called a budget call the budget and we do it with every dollar and Jade and Sam did it they paid 465 000 in debt 200 plus of that was student loan debt so she actually did it you can't argue with somebody who did it that's how it works right and I used every dollar when it the year that it came out Dave yeah and it was clunkier it was clunky it's robust and sophisticated yes now it has all of the the tools and the Trinkets and the things that I wished I had back then now you get to use them and the good news is I am doing a webinar Dave yep you are this is an hour and a half of your time on your lunch break it's free so it's free you bring your Lean Cuisine you bring your sub sandwich and you sit and I will help you figure out where that margin is in your budget what you've been missing why it didn't work before and I will help you get it working now so not only will we find your student loan payment Because by the way most people find about 332 dollars in the first time they do about the first time yes by the time they do a budget for several months they find more than that yeah because you get Sleek you start their expenses by nine percent on average you know what the inflation rate was last year yeah nine percent there you go ding ding and just found it we found nine percent lost in your budget yes and it's free it's free did we mention that it's free that's that's an important part there's no you know I'll tell you something we didn't mention is we mentioned this yesterday and the stinking thing's almost full yes it is so it does fill up because the technology only allows us to put so many people in the webinar yes so if you want to be in the webinar I go to everydollar.com budgeting that's right science and sign up it's going to be August 9th which would be like a week from today yeah I think it's a Wednesday yep yep week from week no yesterday's Wednesday today's Thursday I'm so lost yes me too well and I don't know when you're listening to it on podcast anyway ignore all of that but anyway yeah so it's about a week not less than a week away and it's completely free everydollar.com budgeting Jade a limited number of seats and they are not gone but they're almost gone and it's free and I'll be teaching you but you'll be able to ask questions I'll be able to hear from you this is a conversation it's not just me yakking although I can I can yeah you could fill it up but you don't need to that's not what we're doing yeah and the and by the way the one of the topics is going to be how to deal with an irregular on unpredictable income so you're on commission you're self-employed your hours are irregular I can't do a budget yes you can we can show you how we actually have a tool inside of every dollar called paycheck planning that allows you to do it so good and you've got the financial roadmap in there that shows you how to walk right up the baby steps while you're doing your every dollar budget I mean this thing is good yeah and it's by the way did we mention the ridiculous price it's free 3.99 that's what I'm talking about free 90. that's funny all right Julie's in Pennsylvania hi Julie welcome to the Ramsey Show hi Dave and Jade how are you better than we deserve what's up uh my husband and I are currently working through the baby steps in talking about it we have five on saving for your children's college fund is there a recommendation that you would have maybe of another way to save for them that wouldn't be specifically earmarked for college in case they decide for some reason not to go to college no I would first save in the 529 for college I wouldn't if you're as they age as the kids grow up if you're feeling more and more that they're going to go where they do know after after high school education which by the way is highly unrecommended you don't have to go to college to use the 529 you can go to trade school okay and that money converts from you can go to code school and use it to become a programmer okay it doesn't have to be a four-year institution and leaving high school and going to college is not for everyone and certainly going to college and studying you know German polka history is stupid don't do that right but but going so everybody shouldn't go to college you know carte blanche no matter what but everyone should continue to gather knowledge right everyone if you don't continue to gather knowledge you're going to end up broke your whole life so you need to be a lifetime learner we do teach our children knowledge is a currency that will cause your life to win not degrees and not uh snotty famous institutions it doesn't matter where you go or that you got a sheepskin what matters is do you know something that you didn't know yesterday so the number of books I have read since I graduated from college 40 years ago is astronomical you know so that's where I want you I want I want them in that mode but all that to say they can get certifications they can get trade trade schools they can do all kinds of things so I'm going to start saving now if you get a hundred thousand bucks in a kid's name and this kid is going to be a welder uh you know you you probably need to stop saying at that point but right now you've got nothing how many kids do you have right I have two yeah the other thing is is the siblings can use it yeah siblings can use it some of the 529s even adults you know the loss of spouses can use them yeah and not spouses I'm sorry parents parents you can use them their kids can use yep it's it's not it's not TR and even if you did take it out you're just going to pay a penalty on the growth that's right that's all and they can't convert to their retirement down the line right yep it can become a Roth IRA it takes forever yeah it does but the point is there's nothing's lost nothing's wasted good option yeah yeah and and you know and here let me tell you it's a good it's a really good question you're asking okay because a it gives us the ability to clarify here's the other thing that happened with my kids we didn't have 529s when the Ramsey kids were growing up okay there's no such thing then so we were just saving in a mutual fund in their name that's called a unified gift to minors act okay yeah and uh we just say and you could do that if you want uh because the money's at least going to be taxed at their rate which is zero until they get up to ten thousand dollars in gain so it's it's largely zero but anyway having that fund even if our kids didn't go to college gave us the opportunity to continually as parents talk about hey here's your college fund hey here's your college fund hey this is your college fund hey we're putting money in your college fund hey come over here I want to show you how to calculate how much is in your college fund share price times number of shares and this is how much is in your college fund and what was I doing there yes I was brainwashing them to go to college okay that's true but but in addition to that or instead of that if you wanted to say this is your education fund that's good Dave because education matters what we're doing is we're we're part of the rhythm of the Ramsey kitchen table was ever so often you would hear from your parents that learning matters because we're saving for it we're investing in your future because learning matters because knowledge matters and you do want that that's another benefit of having the 529 just keep talking about it but yeah I I don't oversave if you think you've got a kid but if you've got two doctors or two lawyers you really can't save enough so um but if you got if you got you know a welder and a coder you you can stop at some point because you're not going to need as much to as you need to go through med school they may make more but they're not going to spend as much to get the degree man that's a good conversation it is and uh you know we've had so much discussion with Ken Coleman Mike Rowe about the trades trades are uh they're on the comeback thank goodness yeah uh yes that's what makes it good one of the things made America great yeah we know how to build stuff you know that's right and uh we want to think about think positively about people that build stuff and they don't all have to come from somewhere else it can just be from across the street that's right there's great pride in being a Craftsman or there should be this is the Ramsay show [Music] foreign well you've all played the telephone game the first person Whispers a message to the second person who Whispers it to the third and so on around the table until the original message has completely changed multiply that confusion by a hundred if you run a business with different software systems that don't talk to each other that's why there's netsuite by Oracle in the early days of Ramsay we were using different systems for all of our business units we needed one single source for accurate data netsuite was the software we used to optimize and take us to the next level netsuite gave us the visibility into all of our numbers so that we could communicate across departments and plan ahead better and as we grew it scaled with us next week worked for Ramsey and it will make a difference for your business too join the more than 34 000 customers who trust netsuite to help make them smarter and make better decisions and level up their operations to learn more get a free product tour at netsuite.com Ramsay that's netsuite.com Ramsay foreign [Music] personality is my co-host in the lobby of Ramsey Solutions on the debt free stage Mark and Barbara are with us hey guys how are you hey Dave hi we're doing well good good where do you guys live uh we live in Denver North Carolina oh fun what's that Charlotte Charlotte okay cool welcome to Nashville good to have you guys thank you all the way over here to do a debt free scream how much did you pay off uh we paid off 215 600 woohoo yeah I like it and how long did this take uh three and a half years good for you and your range of income during that time 120 to two and a quarter way to go what do you all do for a living I'm a sixth grade teacher good and I I sell food for a living very good you sell fruit for a living that's right A lot of it yeah that's a lot of apples I like it I like it so what kind of debt was the 216 000. we made out of our house foreign looking at weird people how old are you two weirdos I'm 37. I'm 34. and you're paid for house yep wow when you were 22 people told you that wasn't possible oh sure yeah even now even now they tell you it's not possible and you've already done it and it's true yeah it's possible I'm standing in it shut up yeah but yeah it's it's just it's so weird isn't it that's why we call people weirdoses because it's the best kind of weirdo to be because people a can't believe it can happen and uh B they don't believe it happens as much as it does happen lots of people pay off their houses but nobody talks about it much way to go you got it thank you wow so what in the world happened to you three and a half years ago that Lit you up like this well I mean it started like 12 years ago when Barbara and I got engaged we got a gift for Financial Peace University that we took at that time so we've been trying to live it ever since um about four years ago I got a new job and then we just did we just dream all the time and plan and goal and so we looked down like three and a half years ago and said we can get this done in maybe like five or six years maybe seven before the kids get to high school and then I don't know you just start getting after it and you knock it out pretty quick and it's it was just awesome I love it way to go y'all that's so fun I mean you're not even 40. what's this house worth uh five 525 5 30 something let's go and how much in your retirement accounts about 300 way to go so you're bumping up all Millions pretty close yeah very close it's gonna be baby steps millionaires in a minute yeah and you're not even 40. you're not even 35. I mean come on wow that's amazing that is how's it feel unbelievable it feels really good have you had that first month where there's no payment yet yeah July was our first month oh tell me about I like walk me through it walk me through it well we did get the tax bill that month too for the house but it was the best bill that I've ever paid so I was happy to pay that bill really oh man but what big thing are you gonna do to celebrate you got to do something cool um we've been putting off certain kinds of travel and vacations that we've wanted to do and um the good kind yeah right exciting ones that you know some of them some don't know about so yeah uh oh sorry we can't say it in front of it yeah I can't say in front of some of our audience right so which happens to be sitting over here to the left okay that's right I know what you're talking about we might well we all do now yeah that's good okay also the ones that don't involve them too yes about them where are you going uh we'd probably like to go down to like Key West or somewhere around there yeah that's a nice trip a little couple things that's a good fair I love it not a payment in the world yes not even 40. years old debt no debt on the house what do you tell people the key to getting out of debt is um I mean I think one of the major things is work I mean we're married so we work as a team we work as one and you know whether she's pulling me up which is most of the time where I try to help her out too it's it's getting after it so uh just you know remembering your why and continuing to you know do God's work with the money that you've been given so I can is it I can do all things through Christchurch yeah okay that's a good that's a great scripture obviously well done you guys well done well done well done so um man yeah I I mean when you were growing up people talked about Millionaires and now you're getting ready to be one yeah I mean uh you know I took a new job that kind of put us back a little bit but we were still okay as far as income goes but um Barbara at the time was staying at home with with our youngest uh and she started opening her own business she got after it I mean one of the big reasons she kind of pushed us towards that Finish Line really really fast was her just doing stuff in her part time to buy and sell and learn and I mean it was very impactful and very inspirational that she could take on something like that to continue to help the household and what were you selling anything that would make me money yeah so you just buying like garage sale stuff flipping on eBay and yeah or Facebook Marketplace or whatever yeah okay good for you well done sounds like you did good with it wow very good good good good man so you get a hold of Dave's Book 12 years ago because I'm I'm thinking about your journey it sounds like you kind of avoided debt in general for the past 12 years right even before you got intense four years ago to pay off this house yeah pretty close I mean we had probably like most people do might have a credit card because it seems like a good idea for credit or we have a car payment but we're going to pay it off early yeah right right you know some of the things that were probably pretty normal um but you know we kind of had a wake-up call to yeah kick it into high gear that's right yeah very cool knock it out this is just so and so I don't understand how anybody can listen to this and not be inspired and not believe it can be done how many people do you know in their 30s I have a paid for house I mean we know lots of them Dave because they come through here every day but if you're listening this is I mean this is what you can do you guys have made it clear that this is what's possible in life very very cool hey bring the kiddos up let's introduce them their names into ages this is Stella with her beautiful blue glasses on she's uh eight and then this is Gabby she's four all right cute cute and they got the t-shirts to match that's right well done good stuff hey we've got the live and give box for you that's the baby steps millionaires book you should read it because you're almost there and Total Money Makeover book that's one to give away and get somebody else's Journey started and Financial Peace University as well you can give it or you can live it whatever you want to do that's what the box is for thanks for making the trip over thank you very much you guys are inspiring Your Heroes appreciate it Well Done Your Heroes to those two you changed your family tree man their lives will never be the same they have no idea how important this day is or the Milestone that the state represents is and and what their mom and dad sacrifices meant so well done you guys very very very well done Mark and Barbara Stella and Gabby Charlotte North Carolina they paid off 216 000 in debt that's house and everything almost baby steps millionaires already ready man did this in three and a half years making 120 to two and a quarter count it down let's hear a debt free scream three two one [Music] this is how it's done there you go wow I don't think we can say it or show it or illustrate it or tie it together any more clearly or often enough to tell people the fastest way to build wealth is to get out of debt that's right I mean here they sit with a paid four half million dollar house three hundred thousand dollars in savings so they're at 800k net worth and they're bumping up on millionaire status they're going to be a mult they're going to be multi-millionaires yeah easily um unless they just really screw this up I mean they're really on track to be probably have a 10 million dollar net worth by the time they get in their 60s that's the thing and all they did was get their income back instead of giving it to somebody else that's right we sit and talk about this daily on the radio and it's not just this idea it's not just a theory we get to watch people do it every day millions of people get a hold of this information they change their lives they pay off their debt they pay off their homes and they become millionaires yeah and so when we get the haterade out there that says oh Dave Ramsey stuff Ramsey stuff is just for poor people it's just it's good first steps but he doesn't really know anything about wealth building you know it doesn't hurt our feelings because we know you're stupid right right when you say that okay we understand but what it does piss us off is you might somebody might believe you're stupid butt stuff true that when we created more millionaires probably than any other organization and currently operating in America right now by doing that right thing okay that's the fact it pisses me off when somebody said when somebody tries to put us in a bucket or in the corner of not Building Wealth because we've shown more people how to build wealth than anybody anybody and not because it hurts our feelings it doesn't hurt us it doesn't change my net worth when you do that but you convince somebody else with your stupid but hope stealing that they can't do it and we sit here and show people every freaking day that you can do it hope deferred makes the heart sick but when desire comes it is the tree of life this is the Ramsay show [Music] foreign [Music] [Applause] [Music] personality is my co-host today thank you for joining us open phones at triple eight eight two five five two two five Anisha is with us in Charlotte North Carolina hi Anisha how are you I'm great Dave how are you better than I deserve what's up so I'm calling about the student loan debt relief and everything that's transpiring the end of September uh beginning of October I have um some student loans that I have yet to pay off it's only it's my last one and I'm currently unemployed and I have the money in my savings account and I want to go forth with paying it off however I am hesitant because I experienced a situation before where I was inquired some fees and taxes later on after paying the debt off years ago and I just want to make sure with what they have and stated now with no interest if there is no type of fees that will occur later on or no type of taxes that will later on occur for anyone what are you pulling the money out of that's what I'm asking I'm going to be pulling it out of my savings not a not a retirement account no sir the student loan the the government's not going to assess you a fee for paying off a federal student loan early okay okay and I asked because I guess before when I did it I pulled it for my 401k yeah that was a problem okay that's why that's why you yeah that's why you had a tax deal and you had some fees now my bigger question is right now you don't have an income coming in right correct and how much were you pulling out of your savings and what will it leave um I'll be pulling out twelve thousand and what will it be it will for that account at least 30. okay and what did what did you used to do for a living um I was actually in marketing unfortunately um when I was seven months pregnant they let me go um say that they were getting rid of my position at the beginning of the year and um so I it's my husband's income that we are working on what does he what does he make the 80 000 what did you used to make 60 okay and you've had the baby now yes sir congratulations that's great thank you and you didn't have the weight of working for a toxic horrible company while you were having a baby that's a wonderful blessing you're exactly right thank you is this your only debt this uh I have a car alone and that's the last bit of my day income right now um sorry one more question I'm digging a little bit both of you combined is this your only debt yes okay great so your finances are combined yes sir okay you keep using you should keep saying me but I didn't I want to make sure he's not I'm sorry he's not he's not sitting on 300 000 over here in a different account or more savings because my next question you said that that would leave 30k in savings so I'm wondering about the car how much do you owe on your car yeah I owe 9 000. girl let's pay them both off that's what my husband said he's right next yeah are you are you going back to work after the baby gets a little bit older yes I want to go after he's turned at least give them to a first and first year with me um and then go back to work but uh so can you guys make it a year a year more because you got about a year left can you make it a year on his income with no payments I think so and that's why you got no car payment I know and we're currently renting in our apartment that's okay um we do we do want to buy yeah and we're fine with it we do want to eventually buy a house next year and so not just where my brain is it's like gosh 12 000 or should I go ahead and wipe all this clear we completely be debt-free and then the Lord is just going to continue to provide for us excuse me as he has before and open up doors no man can close you know in his word he says we are he wants us to be lenders and not borrowers you know and I just keep that in my mind and I'm like Lord I trust you you know you've done it before you'll do it again and so well I also trust him to grow clearance I I agree with every single thing you just said and on top of that I trust him that the corn will grow after I plant it yes turns out the corn doesn't grow by itself I gotta plan it so you you're gonna do your part by clearing the debt living on a budget the mind of man plans his ways but the Lord directs his steps so we're gonna have a plan don't build a tower without first counting the cost unless you get halfway up and are able to finish so we're gonna have a budget you and your husband are gonna live you're going to do your part to make these scriptures the truth of these scriptures come alive in your life does that make sense yes sir you're incredible I think you're going to be awesome you you're going to get to spend time with this baby we're going to be on a detailed plan and the plan is going to include when you go back to work a bunch of your income if not all of it's going to be able to pile up to base save up for a house yes sir do you have incredible but I believe you're there do you have every dollar Anisha I used to have it and it was when I had it at the time it wasn't operating well with my bank account now it will I just stopped it okay I want you to I don't know who's your bank um it was I have Bank well I got a couple it's it's America Wells Fargo aside from every dollar I would just have a suggestion don't do business with either one of those they're both horrible but every dollar will definitely connect to Bank of America and Wells Fargo no question about it hold on and go to everydollar.com Jade and get a year 15 off on me oh there you go yeah everydollar.com Jade promo code 15 off and you'll get it for a year super cheap I need to get a slash Dave I don't have a slush day you got to know people Dave you got to know the right you gotta have the connection to get a slash Dave that's right Dave could be like a horror that could that sounds a little negative that sounds the psycho hey uh Anisha you're incredible yeah go do this plan and follow all the way through okay don't don't go pay off these two things and be irresponsible and call me back later and say ah we hadn't even working so I ran a bunch of debt no you're gonna get on every dollar Jay just gave you the slash Jade and so uh you got the 15 off get on there you and your husband sit down let's lay out a plan so that this whole thing turns into a blessing because here's what's going to end up happening and you can't see it yet but I've seen it before so I'll go ahead and predict it okay when you go back to work you are wiser than when you took that last job and you have more knowledge about marketing than when you took that last job when you go back to work you're going to make more money than you were making when those idiots fired you mm-hmm and it's going to be a better company because you are going to choose a place that pays you more and that is worthy to have you there and you are going to walk and move in a different type of confidence because you don't have this dead around your neck and that confidence is going to cause you to attract better opportunities you interview better when you're not desperate that's a fact desperate sales people smell bad just telling you when you're trying to sell yourself in an interview yeah you can smell it it's ugly when you're desperate it's a lot of God I just told you it's hard for me to clean the dishes out of anything I mean it's just it's probably done interview well I'm just saying yeah yeah but uh hey you're incredible I I really can see incredible stuff and it all comes off with a simple question I didn't want fees for my student loan that's right yeah isn't that funny isn't that weird but we got all the way down into our life we did yeah so that's the way that works around here because see money's not people who just answer money questions they miss the point because it's all about your life all about you I mean she got a brand new baby she's not sleeping much right now nope and trying to figure out how to do all this stuff but she's about to pay off her student loans and her car and still have money saved and her husband's gonna smile that's right and say it was my idea for once I was right just call Ramsey they'll tell you I was right that's right it doesn't happen often but when it does occasionally you gotta play the Robert's right card yeah yeah you don't you don't play them often but you just occasionally Just Gotta Throw It Down on the table there yeah so I'm gonna have to I'm gonna have to work on my slash Dave yeah slash Dave there's I know some people in this building Dave and I think they can hook you up yeah okay well my name's on the front part of the slash it is that's the Ramsay Solutions part so maybe I just maybe they just thought I didn't need a back shot possible you never know but oh ho ho ho now we're getting to it oh boy so does that mean anybody goes to backslash Slade that Jade they could get 15 that's right if anybody types it in Dave we are beautiful over the dead gum Airwaves that's right it's a secret code so this is what happens when somebody gives you a slash this is the Ramsay show [Music] Dave here you can find all of our shows with the Ramsay Network app on your smartphone it's the only place to listen to the entire back catalog of episodes download the Ramsay Network app in your favorite app store today [Music] [Music] live from the headquarters of Ramsey Solutions broadcasting from the PODS moving and storage Studios it's the Ramsay show where we help people filled wealth do work that they love and create actual amazing relationships Jade warshaw Ramsey personality is my co-host open phones at triple eight eight two five five two two five that's triple eight eight two five five two two five Courtney starts this hour in San Diego hi Courtney welcome to the Ramsay show hi thank you so much Dave it's a pleasure to speak to you you too what's up I have a question regarding my husband's car I am wondering if it would be reasonable for me to beg plead ask him to sell the car to get us um closer to our financial goals and get us further out of debt no you shouldn't be begging and pleading your husband to get your financial goals in order the two of you should be talking about getting your financial goals in order and then he looks around and says oh one of the things I need to do to do that is sell my car yeah oh I didn't expect you to say that all right I can do that I can do that yeah I think I think he the two of you need to be so sharing of these goals that he looks around says what's best for the family is this so I mean tell me about the car what's the situation with it um he per 300 000 McLaren knowing that he was going to lose his job and he did lose his job in February of 2022. and he's been trying to build a business a software company he spent a hundred thousand dollars of our savings on the software company and it's um going a lot slower than he anticipated and we're living on my income in Southern California which is what they're called um I am a property manager and all of my properties that I've purchased are free and clear of debt and um I make um 225 000 in rent but a huge portion goes to property insurance um property taxes so what do you take home Etc less than 100 000 and what was he making before three hundred thousand doing what a software engineer he was a CFO of a Healthcare Company okay okay um So Courtney what your the the car is not the problem the car is the symptom of him doing extreme behaviors man yeah I agree what's scaring is terrifying you it's terrifying me listening to it yeah it's really frightening yeah I've prayed a lot about it but I I think he needs to hear you say loud and clear that he's scaring you to death you're terrifying me this feels so irresponsible the car the the in combination with the software company the fact that you would go do that right before it has nothing to do with the car it's got through the fact that you would go do that right before you know you're losing your job and right before you before you do a startup how much savings do you have now I know you said he pulled out a hundred thousand and now it's less than a hundred thousand and it's dwindling very very rapidly so you don't have any net worth left you're using that to float your life right now exactly is the McLaren paid for oh we have a hundred and fifty thousand dollar car loan so I was hoping that we could at least get the car paid off so that we wouldn't have that additional payment yeah every month so at eight percent yeah so what I what I'm suggesting is is that you pan back and that he panned back and look at your lives and you may need to sit down you do need to sit down with a good marriage counselor with a good pastor or somebody to guide you that he will trust and and talk to because um if you pan back what what I would tell him if he was my buddy and he asked if he asked me I would tell him is your extreme high risk behavior is terrifying your family you're traumatizing your wife is completely out of line and the you know it's almost like you're living a mid-life crisis and dragging your family along with you and so you you need to get a job and sell your car not because you need to get a job and sell your car but because you need to do some actions that are not extreme high risk bizarre behavior to tell your wife you haven't lost your dad gum mind well it almost sounds like that that kind of is what happened it's like this denial of be before he was having this 300 000 income that would be 45 he's 52. okay close enough yeah like I've done this before okay it's like he's not accepting that that's not the reality in the moment so here's what I'm saying there's something about the CFO thing going away and something about what's going on inside of him that's causing extreme behaviors are this leading him to go to engage in extreme behaviors these are desperate lurches and that's what needs to be fixed the McLaren is just a symptom of that does that make any sense it does absolutely and so if I don't I don't really I don't think you're gonna gain much ground that you want to gain by going in and saying Dave Ramsey said so the McLaren I mean he's probably just look at you and go who the crap is Dave Ramsey I'm not selling my car and so um you know and so he doesn't really care what I think but but what I would tell you is if I were in your shoes and I think you you I think you're verifying you're terrified you're traumatized by his behaviors I I think we if I were you I would coach you to I would to address that and then the McLaren getting rid of that is a If he if he calms down this these desperate lurches uh anyone with with a little sense of peace and dignity and Destiny that's not lurching and you know reaching is going to immediately look up and go we can't afford 150 000 car payment I mean it's just if you told me you had a 20 million dollar net worth that may be okay but yeah are you confident in this are you confident in his business venture like in your head are you going he's he's the type of guy that makes money he's gonna do it or are you like no this is not it well we've been down this road before and so I'm cautiously optimistic if that's uh too evasive I I really I can't even I I'm cautiously optimistic but he's been trying to sell this software since February and yeah no it hasn't moved and so our he does need additional income at this moment and that is what he's been resistant to and um even on his birthday which was just a few days ago he told me he's absolutely not selling the car that is not because his daughter asked no um our 13 year old said dad I you promised you would sell the car why are you gonna sell the car and he said no never never selling the car um so I think there's something going on it's not it was an identity breakdown um he's gotten his identity into I'm a player and the car and the joint and the car in the uh the startup represent I'm a player and I can't turn my back on either one of them because then I wouldn't be a player and I'm a player that wins that's what he thinks and he's afraid he's not he's afraid he's opposer and so yeah you guys need some counseling hun I'm sorry I'm sorry you're going through this it is terrorizing you have a right to be uh very afraid um the the the conditions are not good but the car is a symptom not a problem [Music] if you're like most people your home is your most valuable asset and when you want to make improvements it can feel like everything costs too much or takes too long but something as simple as custom window coverings from blinds.com can completely change your space and add value to your home we've recommended blinds.com for over a decade so you know you can trust them from blinds drapes and shutters to motorized Shades they make it easy and affordable to upgrade your entire home and their team is ready to help with everything from design consultation to measuring and installation plus there are never any misleading quotes or hidden fees ever everything's backed by their 100 percent satisfaction guarantee and shipping is always free see whyblinds.com is the number one online retailer of custom window coverings visit blinds.com to save up to 40 percent off everything site-wide go to blinds.com for more information [Music] thank you [Music] Jade wash all Ramsey personality is my co-host thank you for joining us America we are glad you're here all month long we're giving away cash you could win one of the 500 weekly prizes or the grand prize of three thousand dollars no purchase necessary all you gotta do to enter is go to ramseysolutions.com giveaway you can interrupt it once a day if you enter more than that the computer kicks you out so you did no good try it try it try it doesn't work uh you can also get our best-selling books like The Total Money Makeover from paycheck to purpose and own your pass change your future from Dr John deloney as low as 12 his brand new book coming October 3rd is called building a non-anxious life you'll learn the six daily choices to break free from a life spinning out of control you can pre-order that book now for twenty dollars if you do you get seventy five dollars in free bonus items and his questions for humans cards are on sale for only twelve dollars at Ramsay solutions.com that is some life-changing stuff free money good deals good deals lots of helpful information that's what we're about around here ramseysolutions.com slash store even the store has a slash it does you're you're left out in the cold Dave yet again Stacy's in Louisiana hi Stacy welcome to the Ramsey Show hi thank you sure what's up I have a whole life policy that has been paid off it's a 15 000 policy that my dad took out for me and now the benefit amount is 47 399. so my question is um and I called them I can keep the death benefit at 15 000 and they're telling me I can move a portion of it to an IRA Roth and make 4.5 percent on it and I didn't know if I should just leave it in there and leave it as a death benefit or just leave the death benefit at fifteen thousand and then use that other What's the forty seven thousand that is the death benefit paid out now the cash value yeah no the cash value is 25 000. so if you close the policy if you close the policy up you get twenty five thousand dollars correct okay well let me kind of reset the table for you before I tell you what to do okay because you're using the phrasing that the whole life agents teach you okay that's what I'm calling you yeah so as long as you're alive there is a probability of your death agreed agreed as long as there is a probability of your death there is a cost to life insurance for them to cover you it costs them something because each year there's a chance you will die and and you can break that down by year if you're an insurance company that's what you would do it's called an Actuarial Table okay and so for for the re fact that as long as you're alive there they cost them there is never a time that you have paid off a policy what has happened is you have prepaid a policy they charged you such high premiums and your dad such high premiums in the early days that they never aren't going to charge you again okay that's thing number one okay how old are you I am 56. now I'll tell you this Dave I know we paid like 69 a month yep forever 50 years so it for no just for 20 years it's paid off yeah he paid for 69 a month you could have had a million and a half dollars in Insurance well exactly but this was 20 years ago so that's what no it was the same cause the same cost back then so but the point is is that you overpaid and prepaid and so they finally quit charging you because they got enough of your money what number one thing number two thing a fifteen thousand dollar policy the interest on twenty five thousand dollars would buy a fifteen thousand dollar policy right okay I mean if you took the 25 000 out and put it in a savings account the interest would buy you a fifteen thousand dollar policy so you're paying for your policy in lost interest because this thing's not earning anything that's the other problem with it the third thing is if you die uh you said the death benefit is now 47 so this must be a mutual company they've been doing add-ons um it's Knights of Columbus yeah they've been in an add-ons okay yeah so you've been buying more insurance as you went along uh and so you've got a higher death benefit than fifteen thousand now you have a death benefit of 47 000 because you've been using some of your dividends to buy additional Insurance paid up additions are called okay and uh that that's what's happened and so all of this to say um sadly this whole Endeavor has not been a good move keeping it is not going to be a good move if it were me I would just cash it out and take the 25 000 and invest it period so they were kind of telling me I couldn't invest it through them no you can't because I already you can okay you cannot roll over a whole life cash value of 25 000 into an IRA you can put eight thousand dollars into an IRA if you have an earned income of that but whole life life insurance is not in a retirement program it cannot be rolled to an IRA that is not true okay now they can't they could invest they could take some of your money up to eight thousand dollars and invest it into an IRA and paying you four and a half percent will be screwing you again because a good mutual fund should pay 10 to 12 percent in a good Roth IRA which is where you need to be with this 25 000. so what they're okay you know their whole life agents it's what they do uh they believe in it or they don't believe in it and they know they're ripping people off but either way they're ripping people off and so what you need to do is go to a good smartvester Pro and cancel this policy and take the 25 000 and put it in good mutual funds uh you can put 8 000 in if you're married you can put 16 000 in because your spouse and then the next year you could put another ten thousand in so over two calendar years you can get it moved into a Roth IRA but you can do that with or without doing this you can put that much money into a Roth IRA anyways that's all this is my my head is spinning on this a little bit because I just did a little bit of just my jade math I'm like she said she's paid 69 for 20 years for 20 years to get a 15 000 death benefit if you just that that math on that it's 16 560 so she paid more money to get less of a death benefit yeah and uh we'll just add let's just go ahead because we can't you know we just got to explain to folks so there's two types of mutual funds two types of uh insurance companies there's mutual and standard standard is the stock is a stockholders on the company and the profits go the stockholders Mutual is the State Farm Knights of Columbus Northwestern Mutual yeah anything so it's a Mutual of Omaha Mutual is the policyholders own the company now and then they pay you dividends now let me let's walk us through okay if a company makes a profit it charged the customer more than the cost of the item and so if if you're the owner of the company and the customer of the company and they give you some of the profit back it's because they charged you too much to start with so you just it's like a tax return it's not a co-op and so the the the treasury Department has ruled that life insurance uh Dividends are not true dividends there's your money to begin with because it's just a circular thing you gave them too much and they gave you some of it back tax return and so yeah it's like a tax return in that regard I see what you're saying but the the treasury Department has ruled it's not an income it's not taxable life insurance Dividends are not our State Farm if you got a car and they send you a dividend it's not taxable it's because it's It's the Return of a deliberate overcharge is what the treasury Department says which is exactly what it is yeah so in in her case what they did was they took that money instead of giving it back to her and bought more more life insurance for her yes and that's called paid up additions and that's why she had a forty seven thousand dollar death benefit instead of a fifteen thousand dollar death benefit I kind of feel like that should be illegal it's Shady stinking thing is Shady whole life life insurance is the worst Mutual whole life life insurance is the worst of the worst and guess what it's the payday lender of the middle class clearly you know you think payday lenders screwing the poor people they are whole life life insurance payday lender of the middle class right there that's why their buildings are so tall this is the Ramsey Show [Music] [Music] foreign [Music] [Applause] [Music] [Applause] personality is my co-host today I'm Dave Ramsey this is the Ramsey Show hey if you want to help us out we could use your help because you're our entire marketing budget you guys thank you we don't have 300 million to spend on uh naming a stadium after us or buying a bunch of ads like so if I uh but no instead we're just here helping you so if you want to help us out we could use the help and the way you could help us is subscribe to the show follow the show leave a five-star review of the show share the show click the share button let your friends know to listen tell people about how and where you're listening whether it's talk radio or TBN or podcast or YouTube or whatever it is and we know a bunch of you are doing that because it's working all of our numbers are up up up up up up up thank you like this week uh we're number 12. on Apple podcasts that's of all Apple podcasts in the world there's four million of them we're number 12. because of you guys thank you that's important because when you pull up a podcast listen to there's six in a row and that means by not being number 12 we're like the last one right there so you can we're like the first thing you see you can see it with the with the you know all the rest of them are like all crime that's right all dead people and cereal and all that stuff it's funny no there's I mean there's this American life there's some other uh news type things on there but uh we're certainly the only show of this type that's in that top 12 but thank you guys thank you thank you thank you thank you very very much we appreciate you Stephanie is in Atlanta hi Stephanie welcome to the Ramsay show hi Steve how are you great how can we help um actually I have a question I am uh I'm really excited because I am debt free as of this morning [Applause] that's great um it was uh a little over 223 000 wow and I started yeah it was a lot and I started um just shy of four years ago and I actually took some of your advice and uh went to my I made a really high salary actually um 180 000 but I was one of those broke High salary people um I had a fancy house and my daughter went to a fancy school and I had a fancy car and I went on fancy vacations and uh it was kind of a it was a fun but you know go nowhere kind of Road and uh I went to my employer and asked them if I could do sales to make extra income because I'm an operations manager I asked them if I could do sales on the side and they said yes and if I took um I paid off about a hundred and thirty thousand dollars that way wow and then um yeah and it took a couple years but but it was kind of awesome and then uh I my company closed the company closed this this January of this year and I got a similar job but it pays uh only a hundred and so that for me was a huge I mean an enormous pay cut yeah and um I thought oh no I still had student loans I 55 000 of student loans I still had one big credit card and um and a car and I wasn't there yet so I did something that was very difficult I sold my house wow I yeah I sold my house and then I moved to uh where my family's from because where I lived with St Petersburg Florida very high cost of living there and I moved back up to my family's firm which is Northwest of Atlanta kind of that Kennesaw Marietta area and I am the question I have is a tip that I wanted to say yay for me because I'm very excited but I've been I'm on every dollar you know I'm on Ramsey plus and I did my budgets that way and that was one of the ways that I kept track of everything because there were a lot of items to pay off obviously and it's very exciting also when you're in the online or in your account and you can see everything you've paid off and when I look at it now like I was looking at it today waiting to get on the show and I'm like wow I mean I did that I I first of all I why did I get into all that debt but I got rid of it you know and it's a huge list so it's very exciting in the Ramsay plus but um my question is so now I have uh 300 000 left over from the Salem zoo and I want I put 50 000 in my emergency fund and so that I'm probably that's probably over funded but that leaves me with 250. um and I'm kind of confused I'm 48. I'm kind of confused about do I pay cash that money because I'm staying with family right now because I literally moved three days ago which is fine I mean it's it's a big house it's fine so I um do I pay cash for a house with that money or do I just put a large down payment and invest the rest of retirement because I only have about I don't know 10 grand in my retirement accounts I have I have nothing to know right now and I only have like 20 years left you know so is it just it's just you no kids no you're not attached in any way in that yes I have yes I am I have a significant other and I have an eight-year-old daughter you're outside of Atlanta pretty far out um I would start looking at homes that suit your needs you don't have to buy a big you know four bedroom home you're in right not so much of a um can you buy something for 250 that'll do fun you know because that was baby step three yeah you don't need 50 000 in emergency you could have 30 000 probably be fine and if you needed to beef this up to 270 to buy something in cash true true yeah yeah so you can find some stuff up here um that's I mean we don't need a big house for the three of us so um you know yeah and that range the two 275 295. yeah and uh just just for clarity significant others don't have their names on Deeds and you you know you're paying cash for it what you do besides that is yeah yeah so you pay cash if I were in your shoes I would pay cash you would and and then there's there's two things there's two things that'll happen later one is you're going to be able to because you don't have any uh any payments of any kind anywhere uh you're you're going to be able to pick and choose the best possible career path without pressure oh I have another job now it just doesn't pay as well I know that's the point it doesn't pay as well though I heard that part okay so I I I think you've proven in the past that you're worth more than you're currently being paid you took a job because you needed a job now you don't need a job as much and so it's going to mean you're going to adjust your career path uh in the next 36 months the second thing that's going to happen is you're going to start investing and building Your Nest Egg so that you're a millionaire soon and you would be fairly quickly at this process because you are so intentional and you're so focused and then the fourth thing that's going to happen is you're going to save up a bunch of money also and end up oh probably five years from now you'll move up in house and pay cash for the move up hey you said it's three of us version three this is not forever a significant other than our kid okay her kid or the significant others kid that's what I was trying to call architecture okay got you got you okay we're basically married we're just not legally we've been together for like get legally married what are y'all wearing we didn't mean to not we did this kind of I don't know okay so you'll go you'll go this weekend it's kind of like kind of like the money stuff yeah it's intentional instead of accidental yeah well congratulations on getting married yeah and debt free and selling a house and a move and a career you got quite a life going in this is great yeah I pay cash because it's not forever is my point okay okay you probably won't be there more than five years because I'm thinking if I'm 48 this year I have you know I don't think you're going to be there five years okay and you're gonna earn more and you're gonna move up later and you're going to invest and invest and invest invest because you're currently worried about it which is good which makes you now intentional about that when you were worried about the debt you got rid of it and now that Jade's got you worried about getting married you'll get married and so now whatever you worry about you you attack it and get it done so it's all good and that's a good thing that's how life works and so um she didn't know she was getting married this weekend until we informed her so that's exciting yeah it's good I mean you know you can get a lot of information on the Ramsey that's right that you didn't ask for it's totally free it's completely free this is the Ramsey Show [Music] thank you thank you [Music] foreign [Music] 27 13 I remain confident of this I will see the goodness of the Lord in the land of the living Max Lucado says God does some uncommon things through common people in common places yeah we kind of proved that around here every day yeah we've had a lot of uncommon uh impact and we're a bunch of common folk are doing it I'm just saying open phones at triple eight eight two five five two two five Jade wash all Ramsay personality is my co-host Rachel is in Dallas hi Rachel welcome to the Ramsey Show hi hi thank you so much for taking my call today I my husband and I my husband and I have been trying we've done day dish for about 10 years and we've made every mistake you've ever told anybody not to do um and if you saw us in person you would probably flick us upside the head um not you just your husband no well maybe maybe just him um so my problem is we are trying to be we're trying to actually do the baby steps um without actually doing the baby step at this time my problem is is when we line up our debt um we have a huge bill to the IRS um we owe currently about twenty five thousand dollars um and so it's it would be our biggest debt next to the house and so I I think I know the answer is that we don't put that at the bottom of the list we would attack that first that's right right that's right yeah so um what do you owe on your home um 280 what's it worth about 300 320. uh is your credit screwed up with all these other problems you've had no our credit is fantastic we have a huge credit score Dave okay um I would go to the bank and talk about some kind of home equity loan I'm not sure you got enough equity to do it but if you can pull 25k off your house and pay the IRS off I would yeah because I'd rather owe the bank than the IRS the IRS has the highest fees the highest interest and almost unlimited power to screw with your life yeah and they're doing it yeah I would want them out of my life as fast and as much as possible you don't want to deal with the KGB if you can help it so if you can borrow from anybody you're going to have a better deal than they're giving you and get them out of your life that's that's going to be and so as Dave Ramsey telling you to borrow money no Dave Ramsey's telling you to take one kind of debt that you have and move it to another kind of debt so it's not that's not that's not new borrowing we're just transferring we're changing the shape of the debt uh to make it better to make it more manageable what's your household income good and what uh uh where'd the IRS debt come from um a a stupid mistake with zeros on it my husband told he left one job and decided to have a little fun for a while and pulled a whole bunch of money out of his 401. so it's a one-time stupid thing and you know not to do it again so it's not going to reoccur oh that's absolutely no I'll kill him first um yeah and so where are we the taxes are still due if he's dead so let's just keep that in mind at least I'll have a good life insurance policy job though well until they discover the murder part but yeah Jefferson on that part joking aside have both of you had enough of this are you both on board yeah yeah but I I I am definitely because what do you describe with him as an unbelievably irresponsible Act yeah that's not an issue that's not a sort of today Ramsey that's I just went off the deep end of insanity for a few minutes yeah and I can't solely blame him because I had some fun in there too but um yeah we lived like kings for a year well this is the kind of fun that leaves a hangover that lasts for years it definitely does yeah so um yeah yeah the thing is yeah I would go borrow on my house as a part of my complete life transformation but not as a way to try to escape responsibility for my stupid actions yeah so if you're gonna go play all the way through and get all these debts paid off yeah do that but if not what I'm telling you is not really going to help you it's just a small part of the overall thing um but my concern would be if I borrow from the bank and this is going to sound stupid I know because I know the answer is the interest rates right now are much lower than the IRS they're still going to be better okay they're still going to be better okay because you're also getting compounded late fees yeah the penalty the penalties are what get you with the IRS and do they have unlim they can disrupt your life they can come just take your paycheck or put a lien on your house or I mean their power is no other creditor has anywhere near the kind of power they have no bank I mean Banks if they wanted to sue you it would take them forever if they want to foreclose it takes them forever the IRS just slaps people around when at will and they do a horrible job communicating with you you gotta wait for a letter in the mail if they decide to send it you just you really don't want to be at their Mercy it's not worth it and so yeah I really don't care about the interest because again it's the law it's let's say that all of a sudden one of your checks was gone see that that's a bigger deal than interest rate for you getting your life straightened out yes that's why I'm doing this so yeah I want you to get control of the variables that we can control Dax is in Salt Lake hi Dax what's up hi Dave how are you better than I deserve what's up great so I'm 25 uh my wife is 21 and she for the most part we've been able to you know stay out of debt and do okay as far as that goes but she's looking to go into dental school and uh that's expensive as I'm sure you know um and I'm just trying to figure out the best way to uh just me and her how we can if there's all alternatives to going into to you know getting student loans and if not what's the best way to approach that um this sounds like she decided this this morning the way you described it not exactly she started going to school for uh software engineering um and she hated it um and uh this has been something we've been thinking about for a few months now yeah I wouldn't do it I think it's BS how much did you spend on the software engineering um so at that point her mom was able to help her with that so there's no student debt yeah no student debt right now here's the thing okay she is not completely sold out bought in on this she's 21 years old and this is a 500 000 decision and there's not a chance I'm doing this not a chance and certainly not going to go into death to do it because here's the deal let me just tell you you go five hundred thousand dollars in debt to be a dentist 400 000 in debt to be a dentist you're a dentist even if you don't like it Tuffy wuffy you're a dentist because you have to clean this freaking mess up you don't get to change your mind and decide you hate it later because you just dug the biggest freaking hole you can't even see out of please don't do this right yeah you're not gonna do it that you're not gonna do it you don't want to tell your wife no dude I'm telling you please I'm begging you do not do this if she wants to be a dentist let me tell you how to do it this will end the whole conversation join the military they'll pay for it mic drop she's not doing that no no she doesn't want it that bad nope uh she might change her mind and not like it yeah nope nope nope nope nope nope someone who just changed their mind after working on a degree for three years because they hate it and three months later wants to go five hundred thousand dollars in debt if she told me she wanted to be a dentist for the rest for her whole entire life and you just ran into her and you're part you're grafting into the story of being a dentist that's a different conversation I'm not going to tell you to go into debt to do it then but in this case I'm gonna beg you do not do this not to mention if she had paid for the education of the software degree or if she had to carry the debt from it no way she'd be making that choice absolutely absolutely please don't do this [Music] but they're gonna do it yeah we'll do a moment of silence for them right now yeah that puts the shower the Ramsey Show in the books we'll be back with you before you know it in the meantime remember there's ultimately only one way to financial peace and that's to walk daily with the Prince of Peace Christ Jesus [Music] foreign [Music] if you love the show and want a deeper dive on your money Journey we have a Weekly Newsletter that gives you trending and helpful articles and tips on following the Ramsay way just go to ramseysolutions.com today to sign up for our newsletter again that's ramseysolutions.com to sign up for our Weekly Newsletter [Music]

Channel: The Ramsey Show

Views: 85,307

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

Id: v_Pu3_4fZBc

Length: 123min 20sec (7400 seconds)

Published: Thu Aug 03 2023