There is No Such Thing as "Good Debt" - Debt is Debt!

welcome to the dave ramsey show you can be intentional about your character you can have money and a career you are the hero in your story live from the headquarters of ramsey solutions broadcasting from the dollar car rental studio this is the dave ramsey show where america hangs out to have a conversation about your life and your money sitting in for dave i'm dr john dolone here with my good friend best-selling author podcast extraordinaire mr anthony o'neal how are you doing good man man i'm feeling good today it's a beautiful day here in nashville tennessee and uh looking forward to serving and helping as many people as we possibly can today outstanding all right let's go right to the phones let's go to hunter in washington dc hunter what's going on how can we help hi thanks for taking my call appreciate it you got it man what's going on so i'm calling my wife and i are calling on behalf of a family member we've been watching them make a lot of bad financial decisions recently and we tried to talk with them you know nicely and gently try to kind of guide them in the right direction but they keep continuing to make bad decisions and we're getting pretty worried about them kind of starting to realize that maybe we need to be a little more aggressive but we don't want to obviously mess up that relationship who's this family member who's the family member sister-in-law and her husband so how honest do you want me to be hunter as honest as you should be there's not a lot you can do man you can't make somebody make good decisions with their money you can model the right way to live your life you can have a a kind dignified respectful hard conversation if you will most of the time people know that they're not making good decisions and more information or a lecture isn't going to help him what do you think anthony no i'm right there uh with you on that one uh jd um i think that hunter you just got to have an honest conversation once you have that honest conversation you've done the very best that you can do move on and focus on you if you have a family and your family you know but i think oftentimes what we tend to do is take on the stress and the pain and the hurt and the responsibility of others rather than just focusing on ourselves go have a honest conversation hey you're making some unwise decisions um i see you going down this path and this path is leading to destruction uh and if they hear it great if they don't hear it cool you've done your part but don't be over stressed about it take care of you and your family and you'll be all right is that hard to hear hunter yeah i mean you know my wife and i are we we've done all right for ourselves but uh you know it's hard to watch someone continue to make bad decisions um and especially it just seems like you know you can't get through to them so yeah it's it's heartbreaking to find out what we can and can't control sometimes right especially with folks we love and it's even harder when you know you're gonna be responsible in some shape form or fashion on the back end right when it's your parent and you know they are burning through money anthony and they're probably gonna having to live with us at some point or i'm gonna have to make a hard call and those are challenging challenging moments and you can do what you can do and not hold the outcome is it really heartbreaking i don't know if it is for me bro it is for me why would you say it's not i mean because it's like if i'd done everything within my power to to help them i'm not going to be hurt for something that i cannot control yeah i'm a more empathetic human human than you are you are i'm just going to be real i mean because if i told my parents all these years hey pay off your debt do this do that do this do that and then they decide not to listen why am i hurt by that it just i hate to see people i love hurting but they chose to hurt that's right so i i i'm not hurt to see you choosing to hurt it's empathy yeah just that's that's my that's that's my you're a counselor that's why i'm i'm just they call me i ain't gonna say that all right let's go to jennifer in philadelphia before i we're not gonna get two calls out here before we get cancelled all right jennifer what's going on how how can i help hey how's it going good um so my husband and i are both unemployed we're both generating no income having both been laid off and we've recently moved from california to the east coast and are now staying with family my husband just purchased a um a small business and he wants to take out he purchased that in cash and he wants to take out another about 15 000 dollar small business loan and we have about 25 000 more in credit card debt so that is our total debt at this time we have been living off of our 401 k so my question is whether we should um we have about 60 000 left in our 401k if we should take from that to pay off this credit card debt and the small business loan and then my second question is wait wait wait wait wait let's let's just let's let's talk about this first question first because this first question may not even make it to the second well her second question was revealing go ahead and yeah how do you create a budget with no income yeah yeah it's so so so so fast okay musa we're taking deep meditative breaths jennifer you know we're going to lead with love you know we're going to leave with love today we're going to leave with love all right uh first off um thank you for calling into the show that's number one okay uh number two is um let me make sure i ha let me let me make sure i have the correct picture here both of you all are unemployed you move from california to pennsylvania which is great all right you have no money you went and paid cash for a business that a business normally takes about three years to product to start producing positive cash flow then you have a 401k that you haven't transferred into a traditional ira to set you up for your future now you want to take out more debt and possibly borrow from your 401k to establish another type of business or to go into the business and still neither one of you all are working and you're living with your your your family members is that picture correct that i just painted it's not as bleak as that but it's pretty correct except that the business that he bought was um a pretty nominal fee it was like three thousand dollars and it's a um it's like a tech um the tech support business so he can jump in and start making income pretty much within the next couple of months he's just cleaning up the shop okay um i am i am working i'm in travel and so i got a gig where i'm working now but i'm only getting paid on commission and some of these people aren't traveling until like 2022 so i won't see money until then so um so jennifer because we're running out of time here and i want to make sure i give you your answer here the very first thing that you two need to be doing is you all need to get on the plan okay you need to get on the plan as far as and get a job both of you all need to get a job at least to start off okay now three thousand dollars spending on a small business i'm okay with that but if if i would have caught you beforehand i would have said no you need to be stacking all of your cash and so that way you all can live so that way you can take care of your four walls you shouldn't be investing into a company when you're living with family right now and when you say get a job you're talking home depot mcdonald's yeah uber whatever right get do what you got to do right now so you can eventually do what you really want to do but right now you want to get your priorities covered you're an emergency yeah you don't have the you don't have the capability of spending three thousand dollars on the business right now you need to be spending three thousand dollars on yourself so you can take care of your priorities now once you get your priorities situated then call back into the show holla at john holla at myself highlight dave highlight the personalities and we'll help you out but right now get your life straight you're broke yeah you got to eat yeah get jobs get the punch oh i'm frustrated we're going already two calls in this is the dave ramsey show [Music] folks it's an honor to tell you about the army national guard not only are they big supporters of our high school curriculum but they also give you the opportunity to impact your local communities whether your goals are to get an education serve your country or have a better life the army national guard can help get you there plus they offer unbelievable financial benefits secure your future today visit nationalguard.com to find out more [Music] this is the dave ramsey show i'm john dalone joined by my good friend podcast youtube extraordinaire anthony o'neil we're taking your calls on life money anything that's going on triple eight eight two five five two two five that's triple eight eight two five five two two five so anthony you lost a you launched a podcast i did man and it's doing very very well right now catching a lot of interesting uh thoughts um this week is as we all know it's black history month and so on the first week of every single month i take the opportunity to just bring in some uh black people and we talk about uh our thoughts and our feelings on how how do we feel as a black individual and not everyone agrees with everything but man i will tell you right now uh the views the comments the perspectives are just insane i mean we're getting a lot of views we're getting a lot of attention with it so i would encourage everyone to to take your time to watch the black history piano this week and come into this with the perspective of listening to learn not listening to respond so one of the important if if you were to say hey delaney what's one of the most important things that's happened in your marriage the last couple years it was this perspective my wife and i had when we shifted from judgment to curiosity oh that's good when she would say hey will you can you help pick this up and my first thought was do you know how busy i am at two tell me how that tell me how i can help right yeah and it was it's been a game changer for all of us right and it goes all the way through that same shift from judgment to curiosity has helped me have political conversations yes has helped me have hard cultural conversations has helped me yeah when you and i are talking absolutely and it's helped me i mean we all know this you all if you listen to dave ramsey's show you heard me say this before when i first got here man i i really was offended by the word redneck ah yeah i was offended yeah and then when i sat down and said hey dave hey rachel hey hey jb like what does this mean like this doesn't mean good to me so help me understand i was literally listening to learn right now not to go to war not to come back and fight but to be like yo in my culture where i come from in the black community you say redneck that's automatic racist and i'm like when i came here and i heard dave say that i heard something i was like yo what what wait but then when i listen to learn i learn exactly what this word actually means and i was like okay cool great and so that's what i'm saying is so important because you're right once you listen to learn man you can go into so many rooms i go into so many rooms that i don't agree with 50 of what they're saying but i leave watch this smarter the way i came in because i went into the room to listen to have a conversation and here's my thing if everyone thinks and agrees uh just like you in your circle you don't have a circle you don't have a circle you do not have a circle if you only read books that you already know you're going to agree with yeah and if you're a republican and you don't know any democrats you you have a bad circle and vice versa and democrats you know probably because you're in a bad circle like if if you're black and all you got is black friends you need a bigger circle okay we we all need to be challenged to be thinking outside of our boxes because at the end of the day my world is small your world is small but our world combined it's big and it's beautiful i love coming on this show and talking with you and talking with dave and talking with rachel and talking with ken and hearing different perspectives man because it just helps me as a man and then i can pass this down to my kids and show them hey listen we can do this thing together and so that's just one thing that i really really really love about this black history panel was to just really dive in and have a conversation and dave said this on monday when he and i did the show yeah um you know some people may not like it you may not agree with everything that they're saying but everyone has the right to their feelings everyone has a right to their perspective and i think it's always fair to just understand how people feel you don't have to agree with them but it's important for me to know john how do you feel about this yeah and then when i hear your feelings i'm just taking it as that that's how he feels then later on down the road we can come back and have a conversation about okay hey let's talk about truth and fact exactly yeah but we can no one has ever we say this all the time no one has ever changed their mindset because they lost an argument right yeah no no if you go into a conversation expecting to agree or to argue you've you've already failed from the very beginning well that's because you've made the conversation about you've made it you've made it a competition yes you've provided rules of engagement instead of hey man pass the roles have us have a seat exactly you want sweet or unsweet tea yeah i'm glad you're here yeah and now you can accomplish a lot you got to i love it man well i'm i appreciate you having the conversations i appreciate you putting the message out there if you i'm going to repeat what anthony just said if you are not challenged yeah on a regular basis not in a where you you only watch this news channel so you flip it to the other one just because you want to get your blood pressure up not like that that's nonsense right if you don't have people in your life that you love that your kids play with their kids yeah that you share food with that you laugh and share conversations with that also challenge you that also say why do you why do you think like that that makes sense to me at all i think it's like this if you don't have those people in your life seek and find them cultivate those friendships some of the best conversations that have transformed my life when i really sit back and think about it are those from people who do not think like me of course one of the best conversations i had was with with a muslim and i totally disagree uh with with their faith but the conversation i was like yeah i never i never thought about it like that and i was able to take some of their some of their small nuggets and implied in my life and it just was beneficial when i first got here i won't say what it was but me and dave had a heart-to-heart conversation about something and i was like yo dave i never thought about that i took some time off of work i went home prayed thought processed the conversation came back and said dave you're right i'm sorry yeah and that's because me and dave didn't see eye to eye on something but he helped me to see something clearly because i walked in there with the open mind that's right and i think that's so important for everybody wherever you are if you want to grow you have to have an open mind which you're the king of that man with your show i've been listening to yourself like yo bro how did you get that like how did you what like john what how but it's like you listen and you listen okay how is he feeling how is he processing things how what perspective is she coming through on the on the dr john de loni show and i'm like you're great at it because i've been like no no but john you're like okay so how do you feel about that so a goal of mine is that the the amazon the amazon marketplace algorithm that follows me yeah yeah can't figure it out right that's the goal i'm ordering this book and that book and buying that cd and listening to this music yeah because i never want to feel like i've arrived if i'm going to continue to read continue to grow i always want to be having conversations here's the other thing i just love people man that's good and there's just a few things and when i get to a man people know there's a few things that i will not move on i will not budge on these are core deloney values yeah yeah yeah yeah outside of that man we're gonna figure it out i'm confident we can figure it out right yeah bro i mean and i don't take too much time on this but i think it's important i think i think people need to hear it in this segment man john let's say i called into your show okay we're on the dave ramsey show right now but let's flip it to the dr john dylani show for the next two minutes i called into your show dr john delaney i have some friends that some people that i that i that i like but i don't agree with half of their stuff and every time we get into the room we're arguing what should i do to go into this relationship and we're not arguing because we disagree what are some key things i should be doing i th one i think you approach those you approach people in your life with dignity and respect first yes not ideation first oh that's good does that make sense yeah i need to write that down and so i'm gonna sit down at a table with folks with one chief objective to let you know you are seen and you have value as a person thank you right yes that's number one good number two when i do that we have anchored in to a common place of of respect and dignity then i can tell you that's the stupidest thing i ever heard in my life right and you can hear it because you know i don't hate you i think that's a dumb idea and now we can have some fun man now we can get into some good tussling i used to do mma i love sparring hard yes and then i love the high five at the end when i know we both gave it our all but we both went into that engagement no one all right i respect this dude now we're gonna let it fly there we go when it's over it's over so then we're gonna go get dinner man america find people that you disagree with love them and then get after it this is the dave ramsey show [Music] [Music] triple eight eight two five five two two five this is the dave ramsey show and we're taking your calls on life and money i'm john dalone my good friend anthony o'neil let's go to jenny in charlotte north carolina jenny what's going on how can we help hey gentlemen i'm big fans of you both and anthony your interview with matthew mcconaughey that was awesome i loved it oh man thank you so much yeah hey i have a question for you guys not technically money related but i think you guys can help so i'm from a divorced family my parents got divorced when i was sick my dad was a wealthy businessman my mom was pretty absent so we were raised by another family um so needless to say my relationship with my mother is not really close i'm 35 and have two little girls now and i think just disappointed in myself this last year um you know not sticking to things not having self-discipline so after the first of the year i decided to join this free program called 75 heart and if you've heard of this so far and um for 75 days you have to do five things per day one of the things is you have to pick a diet and stick to it and no cheat meals and no alcohol for 75 days and so one of the i i picked a low carb diet and also i decided to fast a couple days a week well the second i put that on my instagram stories my mother so i said i'm not gonna close with just nailed me via text not actually in a conversation she lives in ohio and i'm in north carolina and saying this is ridiculous you're stuck you're being crazy you're so unhealthy i'm not coming to visit you or my grandkids until you're off this program just really laying into me day after day for about four days and i was just trying to send her the science center some you know good articles good youtube videos regarding fasting and she's kind of just trying to you know control me in a way but i finally i didn't say anything rude but i finally just said mom your concern is duly noted she hasn't talked to me since it's been about two weeks and i don't want to avoid her but i feel like she's just not mature as a grandmother as a parent i just i just don't know where to go from here we've had issues in the past where i've felt like i've been the parent and she's just pretty immature what would you guys say that i should do regarding this issue she doesn't get a vote man if you choose to do somersaults for 75 days in a row she doesn't get a vote if you choose to be vegan or quito or whatever you want to do she didn't get a vote and if the if your relationship with your mom is contingent on her agreeing with everything that you are doing to the point that she is going to weaponize herself her presence she is not going to be in relationship with you until you're done with this um diet and this reset and this practice of self-discipline so that you can become a better mom and friend and wife and all those things if she weaponizes herself in that way then she's giving you some very loud and clear signals about the status of your relationship which means you have to do the hard work of not pursuing her approval and everything not pursuing not catering to that sort of um weaponization of a relationship and you did it right duly noted thanks for it if that's the case i'll see you in 76 days and i'm moving on with my life and listen what i just said is a lot easier to do intellectually than it is emotionally i will tell you this nobody in an emotional state gets cured of that emotional state with data they get healthy through relationships so when somebody reaches out to you and says you're insane you're crazy how dare you exercise every day and change your diet and stop drinking alcohol and do intermittent fasting and your response is science then you've just declared you've responded to their declaration of war with guns and machine gun fire when somebody responds to you that way you say hey thank you so much i appreciate your your uh your note and that's all i'm gonna respond helpful just it's hard because i want to it's i hear the silence right tell me tell me what you're feeling when i tell you that yeah it's just uh yeah like i said we've had issues in the past where i don't know if she's diagnosed uh undiagnosed bipolar hold on hold on jenny jenny i don't care about any diagnosis i don't care about any of that stuff what my guess is for years she has weaponized her presence to get you to do things that she wanted her she wanted you to do yeah and what i want to tell you is don't let her and her being a grandmother now and and i have a tear of a four-year-old it's just hurtful and also frustrating she likes to make me feel like i'm crazy that's right really frustrating and gaslighting is the worst and you've got to let that fantasy go you had a picture of your mom as this uber grandmother more so that she was never this mom but you had a picture of her becoming this grandmother and more so that your kids were going to get to experience this incredible grandmother relationship and it was going to be warm and fuzzy she was going to show up and buy him stuff and laugh and the reality is that's not going to happen and that hurts to process that and to grieve that but when you process it when you admit it when you grieve it then you can start healing from it and you can un hit yourself from it you can love your mom for who she is and then you can go be in relationship with folks who are going to be affirming who are going to laugh with you they're going to poke fun at your 75 hard but they're going to cheer you on too you know what i'm saying what do you think anthony no you're hitting it right on the head man i have nothing else to say you're hitting it dead on the head yeah and here's the thing man there is no there is there are few harder truths than finding out your parents aren't the people that we wanted them to be it sucks and it's especially hard when you have kids and they're not going to be the grandparents because your kids deserve a great grandparents right awesome grandparents connected grandparents ones that aren't going to suspend their love over you like that but it stinks me i'm sorry jenny but once you unhook from that man you can be free let's go to scott in charlotte in north carolina uh scott what's going on man oh i just went to scott in sacramento i'm so sorry there's a couple of scots on the board we'll go to scott in sacramento and then i'll circle back to scott and charlotte what's up scott oh man okay so i i think i just made my wife very happy because i just shaved my massive beard off and i think she's quite pleased now so i took him for the team hey for a guy that has been trying to i have not shaved in 11 years and if you're watching youtube you can see i've got no i've i can't grow up here anthony can't so good for you man so what's up okay so we are my wife wants to start a small business selling um jewelry and other kinds of decor items and we are i think we just don't know what we don't know about starting the business and taxes so my question is one what do i need to figure out what do we need to figure out for taxes so that we don't make a mistake and two how do we know when to put money into the business and when you take it out to pay yourself and that kind of thing well here's the thing when it comes to the taxes you ask them to sit down with a professional accountant that can really nail down exactly what you need to be doing as far as the income have income that you have coming in and so it would really be hard for us to give you the specifics because when you ask this kind of question i want to make sure that we're not just answering it in a general way we're setting you up with a pro that can honestly sit down and tell you what to be doing as far as in with your taxes so i would definitely go to daveramsey.com look for an accountant uh that we we endorse and sit down with them and get that information then number two was she said how much money should we be investing back into the company is that was that your second question uh yeah well i i know i my understanding is that i should set up a separate account a separate checking account for the business absolutely and then i know that i want to use money we want to use money to buy more materials and that kind of thing i just don't know how much to put in and how much to say this is our profit we're going to give put it into our personal checking account yeah yeah so i mean i think what you got to do is figure out how much are you paying yourself all right uh what are you paying yourself for salary uh so there's gonna be like three questions number one is what are you paying in the taxes you know some people will say you need to take 30 off top when you get when you get the check in and then number two is what are you paying yourself as far as the salary and then that will determine what money you have going back into the company to purchase materials and stuff like that so the very first thing is to identify how much money do you have coming in sit down with an account rep with a county executive that can sit down tell you hey here's how much taxes you need to be setting aside then also decide okay great here's my salary and then boom here's the rest we have going back into the company [Music] [Applause] [Music] [Music] [Music] this is the dave ramsey show i'm john deloney with anthony o'neil we're taking your calls on life and money at 825 5225 blinds.com find out yourself why blinds.com is the number one online retailer of custom window covering you get free samples free shipping and with the new promos they run every month you'll save even more use promo code ramsey to get the best deal rules and restrictions apply today's question comes from christy in georgia and anthony i pre-read this one i already know man christy writes my husband and i got married last friday we decided on separate bank accounts he and i have both been married before and he was burned pretty bad by his ex i make 50 000 per year i have no idea what he makes but we split household bills down the middle we both believe in your program and are dedicated to being financially free but i'm not i'm just not sure if we're going about this the right way would you help me understand if this is indeed 50 50. all paper rock scissors are you to see who goes first anthony hey i already talked about being empathetic so why don't you go anthony uh straightforward answer no you're not going about this the right way a couple should not have two separate bank accounts a couple should not know will should not be in a position to where they do not know what the other person is making how is that you're married and you do not know how much money your husband makes but you just know that you all split half of the bills so i'm going to play devil's advocate because oh no we ain't got time for devil's ad no no because i'm i'm pretending i'm driving down the street somebody just responded uh-uh i got burned and i'm not doing that again okay you got burned heal move on if you want to do it the right way you got to do it the right way okay well how can two become one in a marriage when everything is still two you you didn't become one y'all just roommates okay studies are showing that when you come together and you genuinely come in together and say you know we're gonna do this together have a clear conversation hey i was burned i was i was i had some issues cool you should have talked about in beginning the marriage y'all maybe should have did a prenup okay i mean there's so many different things that you can do but you cannot be married and not know what your husband is making and not know what your wife is making not really have a joint conversation every month saying hey here's how much money we have here's how we're going to build wealth here's how we're going to live a legacy what you're going to say hey make sure you put 50 set aside for school no you're a married couple and you're over here saying you do this i do this no it's we do this when two or three gather he didn't say when one when two or three come in the midst there's power when there is unity there's no power when it's separate there's power when there's unity so no you're doing it the wrong way now you could be soft and i am say your stuff bro i was gonna i was coming back harder but i won't even do that i'm a thousand percent here's the thing if you were hurt before in a previous relationship and you are hurt in a way that is that hurt is ongoing don't get married you have no business getting married to somebody else if you are not fully all in on this new marriage right so i know you got burned pretty bad and i'm sorry that you got burned pretty i hate that for you yeah then don't get married because the solution is not to hitch yourself to somebody sorta right it's not to anchor you don't want to you know you uh you do a bungee jump right and uh man you got scared on that bungee jump you got hurt on that bungee jump they didn't wrap it on right or whatever if you decide to get back up there and jump again you can't have a secret little leash where you tie yourself to the to the bridge because you're gonna break your back right if you're gonna get back up there and jump you gotta get back up there and jump christy you all both need to sit down asap put all your cards on the table here's how much money we have here's how much money i make we're going to get one checking account we're going to work on this together we're going to heal together he needs to be honest about how much he's hurt and then y'all got to work yeah y'all got to come together on this deal um look at you and me agreeing anthony it's a new day in america all right let's go to scott in charlotte north carolina they're right scott what's going on brother how can we help not much how you gentlemen doing today outstanding man so what's up glad glad to hear it well so um you got your pins ready always for you always okay good deal good deal so started a business about two years ago um ended up selling it about a month ago and that company that bought my company actually gave me a job so i'm working for them now household income is about 80 right now should be moving up to 110 next year no car payments no credit cards um we have 58 000 on our house we have a student loan of 61 000 and i have 70 000 from the sale of the company and working the baby steps would i not take a look say it again you got 58 000 what scott morgan mortgage mortgage yeah and i have uh 70 000 cash that's including emergencies right cash and how many student loans one and it's 61. geez you have wow okay what's the business scott i'm i own a tree service i've cut trees for a long time doing it part time and anybody calls me i would say do your business part time before you jump in full time there you go you know a word to the wise and don't take anything out you don't have to until you're making money i love it um so we just dumped everything back into it and two years later got an offer on it um and they paid me well for it very cool so how can we help man my question is if i work the debt snowball my house is actually less than student loans absolutely so i could write a check today i'm going to take my house off no but i'm still asked what 61 000 student loans right yeah so baby step 2 is pay off all of your debt excluding your mortgage okay yes excluding your mortgage because your house is actually generating money for you so we don't mind that sitting there for a little while longer while you eliminate the student these student loans now i'm pretty sure these are all federal are any of these private oh no they're all good i believe they're all federal all right so right now you want to attack these student loans because you don't you're not accumulating any interest right now because the government has pushed that off for a little bit of time so your best bet is to go ahead and get rid of this 61k if you have 70 000 cash i'm hanging up the phone from us within the next 30 seconds and i'm cutting a check for 61k to pay off this then now you are extremely debt free you still have 9 000 an emergency fund you're making eighty thousand dollars a year right now and then boom i'm gonna get back and build up of three months three to six months in my emergency fund i'm gonna start investing and then i'm gonna attack that mortgage okay but okay can i ask you one more thing something okay appreciate it i'm 37 my wife is 33. okay uh both in good solid careers and we have 80k and 401k no don't we need to stop investing but do you think we are on track to get to the point where we will happen so so let me let me tell you this are you behind right now yes okay i'm 36 years old and i have more money in my account with that but just because you actually you and i are behind i'm gonna be real with you i'm gonna be reeling dave ramsey show i didn't start investing until i got out of debt okay but here's the thing one of our good friends chris hogan says age is not a a a a number it's a re it's like it's a well no he says it's not an age number yeah retirement's not an age it's a financial number so for you is once you get 100 debt free what i want you to do is go to chrishogan360.com and then just start just getting all his content because once you become debt-free in your 30s you are ahead of the game and then now you're going to start investing 15 you and i both are not just going to catch up we're going to surpass our age bracket when we get into the 50s so trust me get this 61k paid off you got 70k cash pay that student loans off get your three to six months back up and running then you need to go over there and rock with chris hogan so you can learn how to get is 15 invested asap okay max out your 401ks max out your roth iras and i guarantee you you'll be an everyday millionaire within the next 10 to 15 years it's been a great hour i want i want him to pay off his debts and then call us back in another hour and do the debt-free scream that's how awesome today is going to be we've got an hour in the books we got more to come stay with us this has been the dave ramsey show hmm [Music] welcome to the dave ramsey show you can be intentional about your character you can have money and a career you are the hero in your [Music] story from the headquarters of ramsey solutions broadcasting from the dollar car rental studio this is the dave ramsey show where america hangs out to have a conversation about your life and your money sit again for dave i'm john deloney joined with my good friend and best-selling author anthony o'neil we are taking your calls on life and money and everything in between anthony how are we doing i'm doing well man excellent excellent excellent let's go you know what before we go to the phones anthony how's your podcast doing my man it's doing great bro who you funny right now i mean it's doing good man i'm grateful for um uh just everything that it's doing man so we can talk about it man i want to get to the phone lines let's go there all right all right let's go to shanley in honolulu hawaii shanley how are we doing hello friday and also with you doing good good good good how can we help um okay uh real quick just a little background my husband and i um were married i am from four months pregnant with my first child or our first child um we haven't started the baby steps yet for dave ramsey so we're not on the program just yet but i follow dave ramsey on instagram i watch his videos and so i have like the general knowledge of his program um my husband and i we we do agree on one thing that we we need to get out of debt and amen to you you guys earlier with um the christie answer to christy about we share our debt and we share our income so good for you we agree on that too yeah but um we also just come from different backgrounds so we kind of see money differently and we spend it differently and have different ideas of how we save it as well but we we know we need to get out of debt like as soon as possible um so i was trying to think like you guys and get all my questions answered thinking like dave and chris hogan and all you guys and the only question i not only but kind of one of the big things that stood out that i need help with before we get started in the program is my husband um he resells shoes so he's like in the shoe game kind of hacking i don't know if you guys know what that is absolutely what that is yeah he's on the app it's also a hobby like he loves to do it he loves shoes nike shoes adidas all that but he likes to buy and resell them um he uses credit cards often and i know dave ramsey program is is anti-credit cards i'm a little more pro debit card or checking account i feel better using money i know i have um but he he likes to use the credit cards because he gets cash back as well you know we we have like rocket 10 we get cash back um but i just don't know how his shoes like reselling fits into the program if we did get started and we just have a lot of debt that i'm like we i just need to get started already before we have a child and just more debt and all of that yeah um you're absolutely right and i would love to have a conversation with your husband um i wish he was there um is he there yeah he is yeah put him right next to me yeah put him on put his beautiful phone he made you call come on man well i'm the one that's like i want to do the program yeah he's not anti dave ramsey but he's also like he wants to understand it and have a clear path before we get started that's good yeah i'm not going to talk to him about the shoes i want to talk to both of y'all put them on speakerphone let me know let me know when y'all on speakerphone okay we're on speakers okay what's up's last name uh last name is angel samoan so i'm i'm just gonna say brother and sister then for right now all right here's the thing man i'm not even gonna talk to you about your business i want to talk to you about youtube being on one accord okay i think that youtube if you're gonna say hey we're gonna get out of debt you can't build debt if you're racking up other debt okay you can't you can't get out of credit card debt you can't get out of build debt if you're racking up other debt even for the business so i think before we can address the business side of things bro i think you and your wife need to get on the same page bae is our end goal to be 100 debt free if that's our end goal then we both on both sides are going to work towards that end goal and that end goal means we can't have credit cards because we want credit card points and we want reward points because what's going to happen bro let me be real with you as a brother to brother okay something's gonna come up that's not an emergency what you're gonna do is put it on the credit card because it's convenient so what i want you to do um is before you cut up anything because this ain't about cutting up i want you and your wife to get on the same page when you two get on the same page then backtrack that all right what are the steps we need to be doing to get to that goal and if that goal is to be 100 debt free you need to cut up all your credit cards still run your business because i know you can make money flipping shoes i'm with you in that part but how do we cash flow that and build cash from there you know so i i would i'm not coming for you because you're the man of the house i respect the king of the house i'm just saying yeah yeah yeah as the king of the house just make sure that you and the queen come together on the same message and y'all go after the same goals man so here's what i'm gonna do for you okay i'm going to give you two things one because i like giving away my stuff and two because i like giving away other people's stuff just don't give away my stuff i'm not gonna give away anthony stuff i'm not gonna do that he charges me for it guys it's just the way he wrote okay all right so the first thing is when's your baby do july july all right oh yes so i'm gonna give you guys a ticket to the digital date night the money and marriage event that's coming up with me and my good friend rachel cruz dave ramsey's daughter on february 12th and we're going to send you a it's you're going to be able to have this date on your own couch you're going to prop your feet up and we are going to walk you through some things that are challenging couples and marriages across across the world right now the last year and a half has been a zoo and how y'all can come together practically with your money right now and the second thing i'm gonna give you because i love you and i've got faith in you are you all in thank you yeah tell me you're all in all right i'm going to give you a year subscription a whole year a year subscription are you good today to ramsey plus which is all of the financial peace university all of the videos y'all gonna watch them together you're not gonna just sit there you're gonna do it together and it's gonna be come with a year's uh uh subscription to the every dollar app so y'all can be together in your finances no hiding no cheating no nothing you're going to be together and listen you're going to work real hard together coming together you're going to build a marriage that no one around you has you're going to be the light on a hill for your friends who are married and that baby is going to come into a marriage of peace where y'all get to laugh you all get to play you'll get to be silly and you're not gonna be pacing the the floors every night wondering how we're gonna pay our bills okay are you all in amen thank you so much we're all in i want to be that person with the board that says and we're debt-free with our money and there's two thank you two people between you and that goal and it's you all too okay those decisions start together they start united and they start today see couples like that you hear them oh yeah let's go what huh yeah i want to be that person that's who we want calling in to the dave ramsey show um i'm we a whole family tree is about to be different glad to be because these two are going to stand up and do it different i'm proud of them you have a good heart john huh you have a good heart man i just like giving away dave's stuff i see triple eight two five five two two five give us a shout this is the dave ramsey show [Music] cliff and i joined christian healthcare ministries because we really liked the concept of christians sharing each other's burdens and we really experienced that firsthand when cliff was diagnosed with heart disease it was just such a relief to know that financial burden was going to be taken care of chm is the original and longest serving health cost sharing ministry get started today and check us out at chministries.org [Music] [Music] this is the dave ramsey show i'm john dolone with my good friend anthony o'neil give us a shout at triple eight eight two five five two two five it's triple eight eight two five five two two five talking about life and money when it comes to making big life changes like buying a home getting married having a baby the last thing on your mind is making sure you have drum roll please the right insurance coverage i get it big changes are overwhelming but what would be even more overwhelming is to find yourself in debt because you and your family weren't properly covered if not having the time or energy is what's keeping you from getting the right insurance coverage use one of our endorsed local provider or elp insurance agents to help elps are independent agents who find you the best coverage at the best price free of charge that's right an independent agent shops a variety of insurance options finds you the best and explains all the technical lingo so you know exactly what you're getting for free text insurance to 33789 to get connected with an elp and let a pro help you find the coverage that fits your life that's insurance to three three seven eight nine all right let's go to jonah in pittsburgh pennsylvania jonah what's going on how can i help thank you for taking the call um can you hear me absolutely man what's going on perfect perfect so i am receiving um about twenty thousand dollars from my grandmother uh yesterday thankfully she has been studying for me since i was born so very grateful for that um right now i have about three hundred dollars in credit card debt um and then uh so i've actually i've grown a portfolio about a hundred people but i've kind of done it in a way that i'm not too proud of i actually don't have any emergency funds right now um so all of my cash i don't have any cash actually so i wanna my goal is especially to be financially free uh and i wanna i wanna make sure i do this right um because i don't necessarily have the most uh job security so i'm trying to kind of do what i can with what i have how old are you i'm 25 in march okay 25 years old okay you're getting inherited you have a fiance as well okay and you have a son um as well all right sounds good so you're 25 you're about to get married you have one son and you are uh three thousand dollars in debt and i think you said you built a portfolio of how much uh if that seems now okay cool and then you have a twenty thousand dollar check coming in okay so i'm not really worried about the inheritance check right now i want to talk to you about what are you doing as far as in creating a solid foundation for you what are you doing as far as in a career right now at 25 so currently i'm having a nine-time job i graduated with a pharmacy degree um i'm working towards going to grad school um with that specifically i would like to teach as a professor um aside from that um you know i've been applying actually for a couple years and i've had no luck okay so far but um so in the meantime we are here um i'm actually in in morgantown virginia we are trying to set up a community resource center here focused on arts and kind of operate as cooperative for creators and all sorts of people and just providing opportunities to gotcha okay cool great here's the very first thing i will tell you man when you get this inheritance check i will go ahead and pay off all your credit card debt all right um and then when it comes to your uh your portfolio that you're building you're not really in a place yet to be to be investing uh because you don't have a job a stable job right now and so for me i will be focused on getting you a stable job with stable income especially with you about to be a the provider for a family you have a wife and a kid uh that's about to you know be moved about to move in with you uh man i i'm looking for a job and and i'm even looking at okay is school right for me right now okay that's the kind of questions that i'm asking myself i'm what i'm doing is i'm stepping back and i'm looking at the next 20 years of my life where do i want to be when i turn 45 years old and how do i get there do i want to be a good father do i want to be a good wife i'm not a good i have a good father and a good husband do i want to have a solid job and once you answer all these questions then john he needs to work backwards right now i mean but you got this 20 000 that's great pay off your debt then what i would do is set aside the rest of that money so you can cash flow your wedding uh that you have coming up and honestly man i i'm i'm not spending no more than two to three thousand dollars for my wedding this is a you don't have the money yeah big wedding yeah knock it out get it done you need an emergency fund you got a little one you got to have some cash in the bank and then like anthony said you got to start hustling i know you have a dream of being a professor that's a hard job these days they're getting rare and rarer to come by what i don't want you to do is go to grad school with this dream that's gonna come true seven years from now get one job two job three jobs and start socking some money away man good stuff good deal let's go to andrew in houston andrew how can i help man hey thanks for having me um so a quick backstory um been a huge fan of you all y'alls for a while now um took the uh the debt-free freedom class nine years ago got married nine years ago i was making 15 an hour didn't know anything about money and after i took that class i started working towards just understanding money and now nine years later i'm making over a hundred thousand dollars a year um my house is paid off my cars are paid off way to go man it's been a journey but got there now you know my question is i've got 80 grand in the bank um i don't want to buy a new car i feel like that's a waste of money at this point in my life i want to invest i'm thinking real estate i'm trying to stay away from stocks but i wanted to hear from you guys see what you thought yeah talk to us man what do you have invested right now are you doing like a 401k i don't have a 401k i do have company stocks uh that best every year okay um but no nothing nothing other than that do you have a roth ira i do not okay cool so that's where we're gonna start that's gonna be the foundation um you have eighty thousand dollars in a bank what i'm gonna do i'm gonna hang up the phone for myself i'm going to call um a smartvestor pro i'm gonna let them know that hey i want to invest now before we ask this 80 000 in the bank your household income is about 100 so that means you need about 25k uh for an emergency fund all right so we're going to take that at 60 so you're going to have 55 000 that you can invest all right what i'm going to do here is the very first thing i'm going to go into my office tomorrow i'm going to say hey if i can start opening up investing into a 401k do y'all do y'all have a traditional or roth 401k there uh i haven't even looked into it to be honest with you i'm not sure cool that's what i'm gonna look into i'm gonna look in and see um if they have it so when it comes to investing there's three things uh andrew number one is gonna be a match we look for how we can get the match number two is gonna be a raw number three is gonna be traditional okay so if your company has a match i want you to invest up until that match then you're gonna come go over and invest into a roth ira okay so as soon as you hang up the phone you have 55 000 that you can invest call an investor let the investor know hey i got money cash money real money 55 000 in real cash money that i want to invest what should i do the very first thing on the investment tool is a roth ira make sure that they uh get invested into a growth stock mutual fund and then you can open up other mutual funds or you can leave that there and then stack that money to now get into real estate but right now you want compound interest working into your favor once you have that all situated then yes we can start looking into real estate we can start looking into land uh but right now let's do the foundation so you know for sure you have some compound interest and matches working on your side then you can call us back and i would say call back and holla at dave because dave is the king when it comes to real estate man and andrew i heard it in your voice you're right it's not sexy there's not gonna be fireworks it's not as cool as going to buy a rent house or taking out a mortgage on a rent house slow and steady you've done it over nine years now you are making a phone call that says i've got no mortgage and 80 grand in the bank you're doing things that nobody does keep taking the small steps the tortoise wins every time yeah good for you andrew triple eight eight two five five two two five give us a shout this is the dave ramsey show [Applause] [Music] [Music] this is the dave ramsey show i'm john deloney with my good friend anthony o'neal and i'm excited that there are two beautiful people standing on the debt free stage here in the lobby of ramsay solutions david and sonya from fond du lac wisconsin how are we doing we're doing great we are good we're glad to be here so you are debt free we are correct outstanding all right so how much have you paid off we paid off a hundred and thirty two thousand one hundred and thirty one dollars in five years in one month five years oh you this is a grinding one right yep y'all grounded what was your range of income during this time uh we started off at 62 000 and we ended at 150 000. why the jump how did you do that um changing jobs and then she was out of the work first workforce for a few years with our three kids at home and then she got back into the workforce again so david was this 132 131 was that student loans uh that was student loans medical car and our house you paid off your are house weirdos fantastic how old are you two i am 34. i just turned 33 this week y'all are millennials yes yes see dave should be here today tell me why because you know he needs to see millennials doing this nope we're going to take it all for ourselves this is awesome david and sonia all right so take me back five plus years ago something rattled the cage that set you on this journey what was it um we took fbu uh september 2014 at that time we had a six-month-old and we had 18 month old we had two kids 12 months apart so we had two kids in diapers we had one on formula the fact that you can remember a date from that time oh yes it was crazy times okay so at that time i was teaching david was working at a different job at the time i was working uh as a cnc programmer wow excellent i think you're gonna say cnc music factory okay so then what happened um it's just was one of those things where i think every time i came home from target i think his blood pressure went up a little bit more every time and quite honestly i wasn't spending crazy money on foolish things like i was paying for diapers and i was paying for formula and you know laundry detergent things like that and he was just like i mean he was just stressed out and i didn't like to see him that way and he kind of brought it to my attention he's like i think we should do this class and i'm like what do you mean like what kind of class are you talking about and he's like oh it's called financial peace university and i'm like oh and he was kind of discussing it and he was like there's one actually in our area and you know it'd be once a week you know for eight weeks they had like child care included so like we could drop the kids i'm all in i know i was super excited it was very helpful because yeah we had two young kids at the time so who introduced you to the program um i actually found dave on the radio when i was traveling back and forth from my technical school okay okay so so put me in your driving yes you start imagining this conversation that you're gonna bring up to a working mother of two half people and you're thinking all right how am i going to do this how am i going to do this walk me through that moment of courage when you said hey what if you what about this um i i do not remember that what's blacked out well so long ago played excellent so what was the key thing to getting out of debt i mean because this is a lot of money that you all paid off and it was a long time it was it was um like i said when we first started we had the two kids um i was a teacher for a couple years um i went down to part time and then we found out we were expecting again so we at that time i was teaching part-time and we knew when our third child came along is like you know was it really a point of me working when we were gonna have three kids under the age of three in daycare so that was the time when i decided to step away from teaching and to stay home and it was very much an adjustment very much where i love teaching i love children but it was just one of those factors where something just had to give so i did i stayed home for probably three four years four years um and yeah um yeah because it was helpful for us that um our that we had about 30 000 worth of just um non-mortgage that that after we had our third son or our third kid um we were able to pay off that debt completely at that point so awesome yeah so that was the beginning of october uh 2015 that we were debt-free and for a while we were just kind of you know going along going along and then like my income started kept kept growing and i'm like what do you think about trying to pay off the house pretty quickly here and i have to give her a lot of credit like the last year she was anything and anything we were just gonna throw up the debt we're throwing at the house we're throwing at the house non-stop i think every time like he came home and he's like oh were you coloring on our chart again i'm like yeah i just threw another five thousand dollars at the debt and he'd be like oh it helps that david does not spend literally any money like he's just very like yeah he's like he doesn't need anything he's very yeah yeah so how old are your kids now um our oldest just turned eight this week um our daughter will be seven in a week or two yeah and then we have a five-year-old so tell me tell everybody in in just one sentence you've changed the entire trajectory of their childhood they're not going to know that stress they're not going to know that gritting teeth moment that what does that mean to you i mean it's awesome when we were doing this you know they were little they had no idea what they were missing out on and honestly i really don't think they were missing out on anything you know i felt like we were very normal like i don't feel like we were you know we just think about anything very extravagant or anything yeah i mean we just we live pretty simple lives we're not very extravagant um you know some of our friends and were kind of following us you know as we were paying off our house and um they're like i just feel like you're like normal people like you you're not hey you're you're not well anymore right you're not normally poor david insonya from fond du lac wisconsin paid off a hundred and thirty two thousand dollars in five years making 62 to 150 000 with three kids count it down for us three three two one we're dead free [Applause] [Music] anthony have you ever grinded something out i don't even grind it out as the right word for five years to change everything i mean i have but to hear other people do that specifically for them you know in the process of raising three small kids uh she wasn't working and they was like yo we're just gonna go gazelle intense and i love how they kept the same gazelle intents from paying off their consumer debt and flip that over to their mortgage and so now that it's a young couple younger than you and i yeah do not have a mortgage payment so when they wake up and they see their kids and their kids say mom and dad can we go to disney world they can say yes and if they're saying no it's just because they don't want to go not because they can't afford it so all the they said so many things that are different and counter-cultural they said things like we're just simple people and we like hanging out with each other yeah we just decided to pay our house off we just decided i'm gonna stay at home because i want to right right all these options and choices they made that fly in the face of you can only be happy if you have more crap the more stuff you own the happier you are right the bigger the house the more the more the more and they just said uh-uh listen this man they started off making sixty-two thousand dollars that's a lot of money to some but that's really not a lot of money right okay and they say you know what we're just gonna be good stewards of the resources that we have right now and we're going to attack this debt and i believe it's because they were good stewards with this little bit just the spiritual side of me saying this god trusted them with more and look flipped their money not just flipped it but doubled it to 150. changing their whole trajectory of their family tree and i loved what you said your friends are starting to say huh you don't look like people who have a paid off house y'all are just regular old folks yeah started on the bottom now they dead free on top and we think paying off your house comes from scratching a ticket or from money falling off a tree it just comes from hard work day after day after day you two dave and sonya are free congratulations inspiring millions right here on the dave ramsey show [Music] [Music] this is the dave ramsey show aaa 825-5225 let's go to josh in tyler texas josh what's going on man hey john hey anthony how you guys doing good how can we help man uh i am in a i'm not sure in a pretty unique financial situation a blessing um but we're on step three e we're saving up for a down payment on a house very cool my wife's a teacher but my end is the unique part um i am a i'm a youth minister at a church but we like i'm getting my master's program and the program my master's degree in the program that pays for my master's degree is also paying for our housing okay all right so we were going to go to the traditional um uh manual underwriting ways but we have no rental history in fact we only have two bills um and so our qu my question is really should i be still trying to get a manual underwriting way to go about getting a house yes or just have credit cards no gas only no no no no no no no no no no no uh and josh i want to definitely thank you for doing ministry man i know exactly where you are and where you're coming from uh because i before joining the speakers group here i was a full-time minister as well within the gospel and i had the exact opportunity the same opportunity as you uh to where i could um i had housing i had a housing allowance and so for you right now the main thing is to yes reach out to churchill mortgage uh and just tell them your situation um and yes they will help you get a home mortgage okay um and so what what i would recommend is um how much money do you have down to go towards a house right now well it's this is we're trying to figure out what to do for the next year and a half i'm in this program for a year and a half longer and we will have um i think we're looking at thirty thousand for a down payment for uh uh more than twenty five percent down payment per half so you're gonna have thirty thousand dollars in texas oh yeah that's good so you can get you a nice little a home out there for about two hundred thousand two twenty five two fifty if you want to stretch it and that's a beautiful home in texas you know i'm kind of jealous of the homes in texas you know because y'all can get a five six thousand square foot home for for you know a quarter of a meal and that out here will cost us a million and so um i think that's a great route 30 thousand dollars and while what you're doing right now is i will go ahead and call churchill mortgage and just start building that relationship with them tell them hey my time frame is about a year and a half uh go ahead and allow them to pull your foul and let them coach you on what you need to be doing but right now uh just be renting and just pay off your stuff um and just pay your light bills your utility bills on time keep track of that and you're going to be all right man trust me i did that um and it was it was perfectly fine all right josh you married i am it's just me my wife how long have you all been married we have been married oh gosh almost two years yeah that's a number you got to know off top of your head man yeah right all right so here's what i'm going to do we've got a february 12th at 7 p.m money and marriage live stream with me and my good friend rachel cruz i'm going to give you a free ticket to this event that way you can have a date at home you don't have to go anywhere y'all can dream about what this home is going to look like that y'all are going to buy you can learn a couple of tips on how to stay married and connected in this madness season that we're in and you can also learn how to deal with your money together so hang on the line and kelly will get you hooked up all right let's go to jack in charleston south carolina jack what's going on hey guys uh thanks for having me on the show good to talk to you you too man thanks for calling what's up yeah all right um it's just sort of a general question i wanted to bounce off of you um you know my wife and i we owe about 418 000 on our mortgage okay um but we have a rate a really nice rate at 2.375 for 15 years we just refinanced okay um we don't have a ton of debt besides the mortgage what's not to have hey jack what's not what's not a lot of money like how much that do you have sorry yeah how much debt do you have uh the mortgage 418 000. okay so that's it you don't have any consumer debt well you know just we pay up our credit cards every month but there's nothing we we have all of our cars paid off um we have two kids in college and uh they're pretty much paid off um you know with their 529 plans so all that's um cool in pretty good shape all right so my question is um we have this joint investment account which is basically just a bunch of mutual funds that are you know helped run by our financial advisor and we have 770 000 in that account okay so my question is you know we're making decent money on that you know it could be eight to fifteen percent just depends on the year is it worth it to drain that account and pay off the mortgage where our mortgage rate is is only at you know two and three seven five uh let me ask you this question do you have what what's your retirement situation look like looking like any 401ks any roth iras what's your retirement fund okay give me those uh yeah we have uh 401ks my wife and i and we also have a um uh roth ira and the total amount is about 2.5 million 2.5 million in both those combined and then you have a four hundred and eight thousand dollar uh mortgage and you say you have no consumer debt and then you outside of what's your savings account looking like right now as far as an emergency fund you pretty good in that area yeah so you know um you know we have probably about 70 or 80 000 you know in savings or money that we can get to pretty quick without taking any capital gains uh you know hits great so what i do is like right now um i am actually stacking money in the mutual funds right now to go ahead and build my dream house in the next couple of years um after i get married and so when i find my house right i'm gonna withdraw from my mutual funds and i'm going to pay cash uh for my dream home so in this situation which you're already having 2.5 million dollars in your retirement funds you already have a fully funded invested fund yeah i would say go ahead and pay off your mortgage today all of it and i still want to leave you with another 200 something thousand dollars inside of your mutual funds what i would do is i'll just hop on there and maybe look into um if you want to i would probably looking to buy maybe some more real estate and some more property to start creating another stream of cash flow for you but to answer your direct question because you are following the baby steps and this mutual fund america who's listening right now you're probably saying wait i thought you shouldn't withdraw funds from your mutual funds no there's two different kinds you have one that's covered from retirement which is a roth then you have regular mutual funds such as this is sitting there you can withdraw for that because you're not withdrawing from your retirement so i will go ahead and pay off your mortgage and then look into investing that uh the rest of it as well uh jack such a great question man you and your wife are doing some extremely extremely good stuff right now with your finances all right let's run to rodney in new york hey rodney we're up against the clock get right to your question man what's going on hi john good afternoon anthony two um my question for you guys is my parents sat me down last week and told me that there's some money that i'm gonna be taking over when i turn 25 later this year but they've already started to throw hints around what i should be doing with it and you know over the past few years as i started working i've worked hard i think to set boundaries with my parents around you know what i'll be doing with my money and and and what what what freedom i'd like to have in making those decisions so where's this money come from is it a is it a trust is it inheritance what's it from it's it's money that they have set aside for me and put you know in just investments from when i was a kid and i just never knew about it so my guess is they want to give you some money and this is going to you're going to become a marionette is that correct i'm not sure what a marionette is it's a it's a puppet that's operated by strings um that's kind of what it seems like yes so here's the deal if you take money from somebody and they they want to tell you how to spend it it's their money right so i'm gonna be very very careful anthony i know what you i'm gonna be very careful before i accept money from other people or i'm gonna have my own i'm gonna say once it's mine this is mine and if people wanna hold it over me i'm gonna say thanks but no thanks this is the dave ramsey show [Music] welcome to the dave ramsey show you can be intentional about your character you can have money and a career you are the hero in your story [Music] live from the headquarters of ramsey solutions broadcasting from the dollar car rental studio this is the dave ramsey show where america hangs out to have a conversation about your money and your life i'm dr john dolone here with best-selling author and good friend anthony o'neil host of the table with anthony o'neil world-class youtube and podcast and we are here to take calls on anything going on in your hearts and your minds in your home struggling with the person you see in the mirror your kids your family your money anything give us a shout triple eight eight two five five two two five triple eight eight two five five two two five all right let's go to lucas in providence rhode island lucas how are we doing what can we do to help i'm doing good thanks for having me on you bet what's going on um so i'm a freshman engineering student at uri and i'm planning on working a lot you know over the summer making a lot of money and i should be able to graduate debt-free you know not gonna have a lot of money after but i should be able to graduate pretty much debt-free but i'm wondering if i should take out a student loan anyways just because it's looking like there might be some sort of relief bill going through government so i don't know where you guys thoughts are on that oh you want to try to take out a loan and catch the see if you can get a year or two paid off for free so what you're trying to just kind of back in scam the system yeah because it's like um i should be able to graduate that fee but i'm not 100 percent sure you know so i figure so if i did have to take one that would be towards the end something should i just do that now instead you're you're asking questions i'm gonna turn this over to anthony here but you're asking should questions against a math problem so you should be able to know here's what's gonna cost here's how much money i have and will or not can but we'll earn where's the should coming in from um no i mean based on the math i did i will be able to graduate from that there you go you know i'll have like 20 bucks and a t-shirt it's my name you know like that's it but you'll have no dignity your pride you'll have accomplished something major and then you'll be able to slide onto the next step i'm gonna turn over to anthony this is his wheelhouse i got nothing to say he just said exactly what it what he said so i'm gonna i'm gonna borrow money when i know i can become debt free that is that is that is a dumb move lucas don't do it okay all right that's a dumb move if you know you can graduate 100 debt free why do you still want to go out there and put yourself in debt hoping and praying that the government will eventually come i mean has the government not showed us that we cannot trust them that they are not they do not make the right decisions when it comes to money and so for you lucas when i'm going to say you already have it don't play with your life like that don't don't put yourself in that in that situation bro you are a smart man you are a young man do not make a dumb decision like that now i ain't when i don't want to finish the conversation don't do it that's it you know i hadn't considered somebody seeing this and thinking oh i can just go take out loans for anything for a car i can take them out for rent for tvs for another semester of college because no the government's gonna come in on a cape with a superman logo on it and save us yeah but that's that is a stupid move oh man the government said they may forgive student loans down the road well let me go get this money just so in case if they do it cool great i got free money well it's not free money somebody's gonna pay for it if you don't think if that's a great point if you get your loans forgiven there will come a moment where you 20 years down the road 30 years down the road 10 years or worse your kids are gonna have to pay this back yeah and if you can get through it if you can work your butt off grind scrape get through college debt-free do it yeah it's not worth it and then too and i'm and i'm looking and i'm studying i'm seeing what's out there with this new administration uh in the white house um and and if if if if it does happen there are some stipulations like community service hours and uh stuff like that that comes along with this thing so if you do not have to take it out at all don't even consider it even if you think you have to holla at me come over to my show come over to my youtube get my book debt free degree and we will figure out a way to how to get you into college 100 debt-free but do not set yourself up to fail because you will set yourself up to fail let's go tonight all right let's go to tracy in new orleans we're going to talk about this all day and get us all fired up call one tracy what's going on hi uh thank you for taking my call uh i had a question about uh moving and uh what should i do with an old 401k yeah i had sitting with a company okay um i worked i worked for a company for 19 years i moved to a different job about six years ago okay and they've been i've had i let that money sit there for now because i was in a good relationship with the financial advisors who were uh managing the money for me and we talked a lot but they just switched companies yeah don't know anything about the new company i'm not too comfortable with yet i wanted to be a good idea just to i was thinking about moving it and self-manage it from what i've learned working with my other old financial advisor nah nah nah what i would do well do you still do you have a financial advisor now i was dealing with the guy who was at the old company so i needed to say the name of the company no don't worry about it so here do this uh what i want you to do is when you hang out with us look up smart investor pro go to daveramsey.com look at one of our smart vested pros and i want you to interview one person or well you're going to read five people because five people gonna call you and find you someone that can help you out and what i want to do is tell them you want to move your 401k over to a traditional um a traditional ira do not move it over to a roth ira tracy because here's the thing you're going to pay taxes on it exactly so move it over to a traditional 401k and then from there just have them advise you on what to do moving forward but honestly i would have did this two three years ago even if i was comfortable with it if comfortable with my financial advisor i still would have moved it over and so immediately what i'm doing uh top of next week or monday is i'm jumping on the phone i'm finding me a financial advisor i'm saying hey i want to move it over how much money do you have in it right now uh tracy about 200. yeah about 200k yeah man you need to move that on over um and get that invested into a growth stock mutual fund and uh that we can go from there but absolutely bro that's what i would do well i do appreciate that and now i would just want to you know i just wonder if i should make that move or not you know it's not a wonder if it's just i'm just wondering when are you gonna do it and anthony you said the magic t-a-x it's that time of year again folks tax season filling your taxes is like going to the dentist no one wants to do it but we all have to and i get it they're not fun but it can be easier our new tax filing software ramsey smart tax is a simple and reliable way to get your taxes taken care of without the extra hassle i'm doing this with me and my family's money that's how good it is you're doing it too i'm doing i'm using the ramsey smart tax product so it's not something i'm trying to pitch that i don't use in my own house okay prices start at 17 bucks for federal taxes text tax to 33789 that's t-a-x-33789 this is the dave ramsey show [Music] [Applause] [Music] what makes our show unique is that we genuinely care about our listeners we're intentional about choosing the best advertisers to recommend blinds.com is no exception they offer high quality window treatments at unbelievable prices and they make it simple to shop blinds shades and interior shutters with easy online ordering free shipping and a guaranteed perfect fit go to blinds.com and take advantage of this week's special savings [Music] so [Music] this is the dave ramsey show i'm dr john dolone with my good friend anthony o'neil we are taking your calls on money and life triple eight eight two five five two two five let's go to maria in tampa florida maria what's going on dr john anthony thank you so much for your time i appreciate it very much you got it what's going on okay so my question is regarding behavior changes throughout the process with that free process i know that we've made a bunch of positive changes my husband and i um i'm 27 he's 34. and we found ramsey solutions when we were homeless living in a tent oh wow in florida but i mean that's that's where we were okay and we've from that point got gazelle intense we cash flowed into an apartment and all of the fixings you know the basic floor walls and everything i have two small daughters now my second one was just born in july so after stork stork mode before my daughter was born we we've kind of identified that both of us are impulsive compulsive and uh although i'm not spending money on things that are accruing new debt i'm like okay there's a thousand dollars left on this card there's a thousand dollar emergency fund here i can just build that back up and of course that's like murphy hits so i totally drained our emergency fund and then one thing after the other back to the overdraft to the overdraft and just like a gut punch to myself and my husband like at the same time and i'm struggling with myself for making choices like that like am i really evolving in a positive way are we really taking steps forward and then just some insight and wisdom into this whole process because this is it's it's a lot and it's it's not just money it's behavior too and so maria i want to start this whole call off by telling you that you're courageous and i'm proud of you you've walked a journey that very few people in this country will ever understand from a tent to an apartment to mom to wife to co-creator of a future that you don't even have a picture for that is brave and that is hard and anthony and i salute you okay so how did you guys end up in a tent um i think the main cause being living outside of our means we have both been chronically underemployed uh since we've been together we met when i like right before i turned 19 and i've been a cna and i've been in a nursing home as an assistant so i've done work and i'm a massage therapist and i think that we weren't earning enough and then we were trying to rent a house that was just too much and then um we did things like go on our honeymoon on a credit card that i'm still paying off and stuff like that kind of builds up so here's what i hear i hear two people that know how to work their butt off they can grind it can figure it out and you made some mistakes with money you didn't you made some you made some not wise decisions so here's the thing there is a difference between guilt and shame you ever heard me talk about this i don't think so okay so i want you to think of guilt as a brick that you pick up when you violate one of your core values when you violate a one of your ethical or moral boundaries i think guilt can be a positive motivator you got to sit in it for a second and it sucks it hurts it's annoying it's frustrating it makes you cry it makes people around you go yep that was you right and so when it becomes shame is when you take that brick and you put it in your purse or your backpack and you say i'm going to carry this forever because this is who i am i'm always going to screw this up i am always right when we're on the precipice of of getting our money stuff together i'm always gonna be a joke and here's the thing maria it's hard for you to see it as you're telling us this story i mean anthony we're cheering you on yeah you're an absolute rock star and here's what you tried to do you got so excited you got so gazelle intense you were running so fast you tripped okay you tripped and you tried to do one little thing outside the the plan right we all have been there we've all done it and here's what i need you to do i need you to forgive maria dust yourself off and say i i thought i was going to do the baby steps plus one plus maria maria steps yeah i stubbed my toe it's good we're back on i'm back in and here's the thing you are going to have to practice a series of new behaviors because you've never done this before and when you screw up when your husband screws up and uh spoiler alert he'll screw up too okay you can be graceful with one another you can feel that guilt because it's appropriate and then you can put that brick down and start running again yeah okay and now i want you to take that grindy hard work that hard work that you're working at a nursing home you're working as a massage therapist you're doing all these things i want you to apply that to one or more positions in your area and your husband too that pays you what you're worth that's going to work you towards a career that you love that's going to get you out of this cycle right and it's going to be a season and it's going to be a challenge but you're worth it and y'all can do it and then you're gonna keep plugging away these baby steps day after day it's boring not sexy not cool no fireworks but you're gonna keep going and then you're gonna look up and y'all are gonna have a whole new trajectory and i heard that little girl's voice in your background you're changing your family tree maria right yes sir right yes is your husband all in he's all in we're both all in that's why it's felt like such a blow okay so are we back up are you gonna put the brick down totally back up backpack purse fanny pack of bricks all down and we're all in together yes when's the last time you all had a date oh my goodness uh it's been a while all right so here's what i'm going to do i want you to stay on the line friday february 12th that's next friday me and my friend rachel cruz dave ramsey's daughter are doing a special valentine's day date night money and marriage event and we're going to help couples all over the country this thing is selling like bananas it's going to be a night where you can prop your feet up get the kids to bed early and you can prop your feet up you all can hold hands you can sit by each other on the couch and we're going to talk to you about your marriage we're talking about your money how to come together even closer how to forgive one another how to grow and then we're going to launch you off into the next 75 of 2021 on with some tools on how to be bare better married and better um get connected with your money does that sound cool oh my goodness thank you so much i appreciate that hey that's on us and listen man we are in your corner anthony what do you what words of wisdom yet for our friend maria i don't have none you did a great job yeah when you get done with this phone call i just want to talk to you all right maria yes go forth high five have a date on us and we were looking forward to seeing hearing your debt free scream in a few years when you call us back what's up anthony i'm a matt i mean you're just giving away your event ain't you i mean you feeling generous today we've sold so many we had this projection into selling and selling and i i am after being in the in the after being in the meetings i keep thinking this is an event i would want to watch and i know that sounds ridiculous because we're a part of it but when i'm listening to rachel walk through her content and when i walk i think i want to be sitting by my wife when this when this when we hear this because i want to have this discussion together and a couple of times anthony have gone home and said hey sheila i'm thinking about telling this story and she's like there's zero percent chance you're telling that story that is staying at our house but there is some things that i had to get permission like you know what's so funny is you're gonna help everyone go home to have a real good valentine's night with their spouse yep and you're gonna go home and you're gonna be sleeping on the couch i'm gonna call anthony and say listen you got a real nice place it's valentine's day i'm like you ain't coming over here buddy can i stay in your basement no siree uh yes i am uh i won't be a no man or no valentine's listen uh-huh i'll stay downstairs you should eat i'm coming to your place forever you should have shut up no you should have done it ladies and gentlemen marriage of money february 12th get your tickets at daveramsey.com i promise you it's going to be good i promise anthony you should be i'm going to give you a code too my man i ain't going you are i'm just going to go on your little uh laser watch you got there your apple i don't know what they're called this is the dave ramsey show [Music] let's go talk to carter in sioux falls south dakota carter what's going on how can we help hey guys thanks for having me um you've been i'm a college student um i'm in my second year school i'm 20 years old and i'm graduating early next year in may and i have 31 000 in student loan debt and i'm just wondering how do i go about paying off my next three semesters counting this next summer where i don't have to take out more student loans all right such a great question man how much does it cost you to go to a school a year um with my federal fafsa and everything it's about two thousand dollars per semester all right so you have two semesters uh um correct three laps i have classes this summer too all right cool so you have six thousand dollars that you need to come up with correct yes are you working i am working how many hours a week are you working um right now i'm trying to put in 15 to 20 i'm working from like remote access and doing stuff for my dad because i will have a job secured next year afterwards too okay cool are you living at home are you living under dorms um i'm living in a house in my college town okay cool are you paying for that out of pocket is that inside your tuition yep that's out of pocket okay cool great so this is what this is you literally have the answer to your question right there if you're working a minimum of 15 to 20 hours if you're just doing bare minimum wage uh you can go ahead and cash flow that six thousand dollars because the average uh also tuition is like ten thousand dollars that comes out to about nine hundred dollars a month so you're right around 650 675 top in of what you need to come up with on a monthly basis to cash flow the rest of your school experience so if i'm you i'm sitting down and i'm budgeting out and making sure that between myself and my family we can come up with top top in seven hundred dollars a month to cash flow the next three semesters which is six thousand dollars real easy real simple very straight to the point okay sounds good there we go appreciate you man anthony i love it when someone calls with the complex problem and your response is that's not complex you know i was watching this thing that uh cody your uh brand manager gave me he said dr phil he said someone asked dr phil and said hey man uh it was joe rogan joe we're gonna ask dr feel like how are you you know having these these these you know hard conversations he said no i'm i'm not having a hard conversation they're asking me a hard answer and i'm just giving them a simple answer sometimes complicated situations yeah but the answer is pretty simple simple yeah you know that's simple simple math okay you got six thousand dollars you got a year two two three semesters that's a year and a half to knock that out yeah bro listen here that's easy do the math break it down break it down to per month of what you need to do now if you would have told me he needs a hundred thousand dollars then okay yeah the math doesn't make sense so now that we need to do something different but if all you need is six thousand dollars we can come up with six thousand dollars in three semesters that's right it's easy uh uh i love it all right let's go to uh david in indianapolis david what's going on uh yeah i'm doing pretty good thanks for taking my call you got it man um my question is how do i handle collections before they contact me and the reason why i haven't phrased like this is because i have checked my credit report recently and i have noticed two what i believe to be medical bills stuck in collections that i have no recollection of and how do i handle that debt before i get these calls so are you saying that that you're not aware of this debt as far as it could be possibly fraud or are you saying yeah i owe it but how do i reach out to them first what are you saying um i want to know how do i reach out to them first because i'm i'm not sure if i'm at fault with those because it could be fraud i'm not 100 cool so normally what happens within collections they have 30 days so once they acquire the account the bill collector they have 30 days to send you a notice letting you know that that hey they are collecting on this medical bill within that time frame you have the right to dispute any charges jump on the phone with them and file a dispute or you can go if it's already on your credit report there should be a name and a number and i would just call them and say hey i see this on my credit report i'm not fully aware of this can you help me uh understand where this is coming from and so i can backtrack and see if this is a bill of fine if it is a bill of yours uh then one of the keys not key secrets but the key things i tell everyone when dealing with a collection agency don't pay within the first three weeks in a month paid within the last five business days of the month because bill collectors are commission ran um and they're they're a base salary but they make all their money off of commissions and so if you want to pay them within the last three to five business days i mean heck as long as you got the money you know i for me i would wait till the last business day of the month because that's when they'll cut deals because they're trying to make their commission check um but if you don't owe it then you're not paying them nothing do you need to file a dispute with your credit repair credit report uh file a dispute with the actual company um and go from there but the first thing is you need to reach out to him david and just say hey ma'am sir i see this i need information so i can validate or non-validate on this account it's mine and then from there you move forward whichever way you need to move forward with make sense yes and david i i'm this is a an additional question here that i must ask him back so when you look at your credit report and it's got two medical debts on there all right you have no recollection of going to the doctor or a surgery or some sort of uh not to my knowledge there is a good possible chance that i have been i just sometimes that stuff is not from the last two months more than likely that medical stuff could be up to a year two years yeah it could be a long time uh from now and the hospital was trying to collect on it then they sold it to a outside collection agency so i i can't say it doesn't happen but it's not too often uh medical bills are fraud and so i would lean on the sign that side that it is yours and maybe that your health insurance provider didn't pick up that balance um and go from there but the key thing is david you know just make sure that if it is yours take advantage of of making them sweat a little bit and trying to settle in full um if you can't afford to pay for it in full the last three to five business days of the month do you feel like you'll always be stuck paying off your debt no anthony no look at you already answering let's see well i've got something for you anthony you'll if you feel like you'll never have extra money to save or spend i need you to know this anthony and anybody listen it doesn't have to be that way it's time for a new way of thinking hey man you have to believe you can get rid of this and take control of your money because you can and it won't take nearly as long as you think it will with ramsay plus we'll kick off 90 days of guided help so you can put more of your money back in your bank account in the ramsey plus program anthony's got a ton of information i've got stuff in there our friends ken and and chris and rachel dave everybody's got cool stuff in there to walk alongside you to teach you practical ways to get small consistent wins that add up to big results and better habits and that means you'll get where you want to be faster debt free and spending your money without worry this year you can make more progress on your debt and saving more than you ever have get ramsey plus and start living the life you want faster start ramsay plus for free text trial to 33789 that's trial two three three seven eight nine anthony someone's thinking what what is would somebody do in ramsey plus talk to him about stuff you've got in that program well for me man i'm actually asked answering a lot of the most common questions that's what i'm doing in there um it's because i'm just i'm taking myself back down to you know the average person in america and sometimes when you get in a program like this financial peace university you have some questions about this about okay credit cards debit cards getting financed so for me i'm bringing solid solutions and answers to the most common questions and i love it so that's what i would say i'm bringing to it and it's amazing it changed my life and it can change yours remember the caliber of your future will be determined by the choices you made today make the right choice and sign up for ramsay plus this is the dave ramsey show [Music] [Music] [Music] today's scripture of the day is john 14 26 but the helper the holy spirit whom the father will send in my name he will teach you all things and bring you your remembrance all that i've said to you lew holt says it's not the load that breaks you down it's the way you carry it it's not the load that breaks you down it's the way you carry it lew holtz is one of a kind man he's a general brother one of a kind all right let's go to christopher in cincinnati ohio christopher what's going on how can we help hey how's it going thanks for having me you got it what's going on hey you know my wife and i we've been listening to your show um here for a while now and we actually have been fortunate enough to pay off all of our credit card debt uh congratulations man i appreciate that thank you yes uh you know it doesn't happen overnight you know it took a few years to save up but you know now that we have that that big chunk saved off paid off and um you know listening to your show you know you guys talk about saving for a nest egg what is that right number to save for nest egg and can you break that up into like a long-term savings with investments or would you recommend you know saving that nest egg in cash um we just started budgeting in january um going forward to like track all of our spending and really look forward to you know continuing to build our savings and and just investing for a future yeah and we just want to know what the best move would be like should we should we you know not to wait the student loan debt should we notch away at the home or should we just you know save it all in cash yeah good question good question so here's the thing man we have the first three baby steps is something that i want you to follow in order we we don't break these for nothing so right now you should have a thousand dollars in your emergency fund nest egg right now okay how much do you have in your nest egg right now uh well in a in so we have about a little uh you know as of close of market yesterday about 5 800 in the in the market and mutual funds we got about 3 thousand in cash okay cool so you got three thousand dollars in cash okay crewing got fifteen hundred dollars in your mutual funds all right cool great so this means three thousand dollars in cash now how much total consumer debt do you have left uh left over excluding your mortgage none well you just i thought you just said you have some credit cards or something like that student loans student loans oh student loans yes we have about 30 000 together yeah yeah so consumer debt let's let me help you out with this anytime we say consumer debt that is anything if you owe anybody anything that is debt including your mortgage okay so student loans are still debt so i want to make sure we're clear you have student loans you don't have any credit cards do you or do you no okay cool do you have a car payment we pay them off okay cool great so so right now you're in baby step number two all right you're paying off all of your student loans you're not waiting for the government to see what they're going to do see if they're going to forgive if they're going to forgive the most they're going to forgive right now is from what i'm seeing if it happens about 10 to 15 000 okay so right now you're in baby set number two you're paying off all of this student loans you're not really worried about having a bigger nest egg right now i want you to focus on getting out of all of your debt completely then we're gonna go over to babysit number three and set aside three to six months for a fully funded emergency fund aka a fully funded nest egg so three to six months of expenses so you're gonna break down your expenses based upon what do you need to live you know your mortgage payment your rent payment your utilities your food um you name it what do you need to live that that's what we call expenses but right now you're not worried about that you're not worried about investing into a mutual fund you're not worried about investing to a roth ira in a 401k right now you're sitting in baby set number two you're gonna get those student loans you're gonna break it down from smallest to largest then you're gonna be attacking it the very first one the smallest one putting all of your eggs onto that one you're gonna work the debt snowball to that method all right so you got 3 000 i'm taking 2 000 out putting that on top of the 30 000 i'm down to 28 and then i'm grinding to get the 28 000 out of the way by the end of this year then boom next year me and my wife we're debt-free we're going to get a fully funded emergency fund then we're looking to purchase a home so that's what i recommend man and i appreciate you calling in you know what's so funny is john um harvard just recently came out with a study uh saying that that that these harvard professors you know every now and then i i i tend to you know disagree with them but on this one right here they they hit this one on the head but they hit this one on the head all these high-end people like you all these doctors and and people like you educated people uh actually now this one on the head john you know every once in a while every now and every now and then and they said that the best way to pay off your debt is by what the debt snowball method not the avalanche avalanche method paying off highs interest down to the smallest one they said the best way to attack your debt harvard said it is the debt snowball and they i think i think they listened to us bro i think that's what it was it was listening to me and dave not you because you adopted too and it was listening to me and dave who are not doctors and they heard us say that this is not a math problem you need momentum you need excitement psychology you need energy you need to trick your brain and it's i was like yo harvard okay if i go back to school i may consider you and then i woke up and said i ain't going to harvest that man sometimes i'm sitting on the radio and anthony just tosses me softball after softball and you just got to let them go by yeah i can't swing it none of them man i mean you're the doctor you know what i'm saying you know so so you educated the hardest thing listen i spent some time at a small program for a few weeks there at harvard can i tell you the most frustrating part what was it i wanted so badly anthony i wanted so badly for harvard to be this big media fabrication i was gonna get there i already had my phd i was gonna be like man we're all same team same team man anthony hey hey i wanna they're real smart that's all i'm saying listen they were real smart i've never seen they're going you know i got invited i actually got smarter than me she's smarter than me she's smarter see so i just you know i don't know but you know i'm going to say the name of the school because i don't want to be disrespectful and i may end up going i don't know but you know there was a big ivy league school that you know offered me a full ride okay to finish my degree no chance that happened but go ahead yeah no chance that it's going to happen zero i'm not gonna say zero i mean i may go back i mean because i believe education is important right but one of the main reasons why i said no it's because i don't want that on top of me you know i'm teaching young people to go to any school that you can afford and an ivy league school is not that important is it a great opportunity yes but just because you graduate from harvard and these other ivy league schools doesn't make you any it will not make you any better than going to a community college because i know a lot of people who went to prestigious schools but they're not prestigious individuals and i know people who start off at a community college graduated from in-state school or went to trade school or went to seminary school and they came out more prestigious than people who went to procedure schools so i just want to put that out there you know for all the people but i i want to give harvard their love and their credit i've got two doctorates if any ivy league school wants to pay me to get another one i'm happy to sign up today but anthony if any in-state school want to give me a full ride i'll sign up today i'll put it out there if any in-state local in-state school in tennessee wants to give me a full ride i'll go any hbcu want to give me a full ride i'll sign up to date ivy leagues that's where we're different all right so hey listen that last caller had an important call out here and i've heard this i've been working with college students for years i know you've heard this tell me you don't continue to hear this man i've got debt but that's not student loans because they don't count student loans is not debt only credit cards and what i owe mom and maybe some medical stuff but student loans don't count as debts and that's because society says that student loans is good debt mortgages are good debt and our philosophy here is debt is debt we don't believe in the term good debt or bad debt we just believe in a term debt is debt and the only debt we are okay with having is a 15-year fixed-rate mortgage but a student loan debt is still debt you're still paying interest it is the number two crisis in america right now people have a mortgage payment but don't own any freaking real estate that is that is debt how is it you owe a hundred two hundred thousand dollars in in debt and you're saying this is not debt no this is debt okay so listen dad is dead his dad is dead his dad is dead that is that say goodbye to dad and never see her again or see him again however you want to phrase it i want to i want to thank kelly and james for quarterbacking a great show today anthony i want to thank kelly for giving away all of your event tickets thank you kelly for uh he was working today in that area hey join us for the marriage and money event anthony it's always fun america thanks for joining us have a good good week good weekend be kind to one another this is the dave ramsey show [Music] you

Channel: The Ramsey Show - Full Episodes

Views: 36,034

Rating: 4.8330307 out of 5

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

Id: fdrDtaFoycs

Length: 121min 30sec (7290 seconds)

Published: Fri Feb 05 2021