budgeting for free today live from the headquarters of Ramsey Solutions it's the Ramsey show where we help people build wealth do work that they love and create actual amazing relationships Ken Coleman Ramsey personality number one bestselling author of the book paycheck to purpose and host of the Ken Coleman show is my co-host today we're going to be talking to you about your life and your money and Ken especially talking about your work how to get some done to make you some money open phones at 8825 5225 Linda is in Miami hi Linda welcome to the Ramsey Show hi thanks for taking my call sure what's up um so my sister has been on probation for um from work for the past few months and she just told me this last week so it looks like she's going to be um laid off or fired for poor performance and she's called to let me know that she's going to be moving in with us um so this is not okay with me for several reasons you know Financial boundaries home Dynamics um Etc so I I I don't know what to do I mean I feel really bad she's my sister um I have an extra bedroom but I don't really have the space or you know I'm in debt myself so I can't take on another person and so I'm just calling to get your your advice how old is she um almost 60 or 59 59 yes I thought you were going to say 19 so why can't she perform at work at 59 years old well I've seen this been coming for years um she's very unmotivated um she's smart she has two master's degrees she's got a six figure job but she's just let her life um go downhill slowly but surely you know her weight her finances her job performance um there is some prescription pain medications that come into play which I think just that per motivation um to to perform well but you know she's let this happen to herself and and now I feel like I'm expected to solve her problem for her yeah and and so you and I both know that loving her well is not allowing her to continue on the path that she's on instead make her face down these demons and turn the corner on them right right exactly so coming to hide in your spare bedroom is just enabling her continued spiral agree I agree and tell just tell her that she'll be very I love you too much I don't care I love you too much to allow you to continue on this path or me to participate with you on you continuing on a path that is destructive to you you have refused to address your lack of motivation your painkiller addiction and your weight and you need to address those things and you can't hide in my spare bedroom and not address them because I love you so much okay and then she's going to be angry at you right very predictable because she feels entitled to something that's not hers your bedroom so and she's also kind of using that card because um you know it was our family house well I'll explain so I I care for our elderly mother in my house and um in my mom's will you know is she gives us the house uh 5050 but I'm explaining to her that's upon my mother's death that doesn't mean right now so it's not your house it's your mother's house well so I had to take out a mortgage on the house no it's your mother's house well I well true but I is it in your name or your mother's name it is okay quit talking around the barn then it's your mother's house it's not your house okay but I'm on the deed so I don't it depends how you get on the de well because I had to take a mortgage out on the um house to pay for my mother's caregiver and since my mother doesn't have a job I had to take a mortgage in order to get a mortgage I had to get on a deed are you single so I I am okay how old are you I am 54 okay all right well you you're the owner of the house then your name is on the deed you're not your mother's house I was wrong it's your house okay and your mother's you and your mother own it together your sister is not on the deed correct okay then she doesn't have any rights morally legally ethically emotionally nothing now the instant that your mother passes you will be selling this house because you're going to be required to otherwise own half of it with said sister and that ain't going to plan either no yeah no so be ready to move right well I'm hoping to get all my ducks in the in order I've been listening to you um nonstop so I'm hopefully hopefully I have a few years to get all my finances worked out so okay here's the thing there's a couple couple of basic Henry Cloud type principles in here from the book boundaries let's just recant them I'm just channeling my inner Dr John deloney can and um so I think the uh the first principle is people who don't have bound don't respect your boundaries are always upset when you put a boundary in place yes we've had that so as soon as you say no expect her to have a little duck fit in the floor squawking and flapping around and all that stuff that she does okay and then she's going to play The Guilt Trip card and she's going to play all the cards that people play when they want something that's not theirs right she's telling me she's going to have to live in her car oh bull crap how about get motivated and get a job or how about just actually doing your work at your job so you don't get fired if you're living in your car sweetie it's your fault right okay so and that's rule number one okay is that you set a boundary with boundaryless people they 100% of the time get upset you just always expect it rule number two enablers are nice people that give drunks alcohol because they are too sweet to say no but it's not real love real love is I want you to have a better life my sister living in this bedroom hiding from reality continuing to spiral downward is not good for you I love you too much to let you live here this not about you and thisa in this discussion Linda it's about her I you care too much about her to give a drunk a drink to allow her to continue in a lazy unmotivated painkiller addicted obese manner right none of these things are good for you sweetie I love you too much you're not addressing the stuff in your life and I'm not going to go there what do you got Ken I just hear a person Linda you're afraid of her and there's some history behind that fear and I think oh she's your older sister yeah she's the older sister am I right that there some fear based on history I don't I don't have fear I I I guess I feel sorry for her um it's kind of like turn and I'm the bigger sister and I care for my mother and I take on all the responsibilties to try to you're afraid of letting her down afraid of this conflict like her future is on your shoulders and here's what I'm going to tell you yeah I I do feel that I know so here's what I would tell you everything Dave said I rubber stamp but I would say this you're going to have to choose today to focus your mind on how awful your life will be if you let her come back into it instead of focusing on how awful it's going to be when she throws her duck fit and I and Dave's right that's going to happen but I think you have to choose between the two evils and her being in your house is way more evil than you telling her grow up sis for her yes love her well enough to help her heal this is the Ramsey Show [Music] hey guys it's Rachel Cruz here to tell you about a faith-based alternative to health insurance that can make Healthcare more affordable Christian Healthcare Ministries chm allows members to share each other's health care costs and it's as easy as 1 2 3 step one choose the healthcare provider you want step two submit your eligible bills and step three get reimbursed chm members take care of your eligible medical bills with no networks and the freedom to choose your healthc care provider chm is the best option for Christians who want to take care of their families and help other believers find out more at chministries.org budget [Music] Ken Coleman Ramsey personality is my co-host today thank you for joining us America we're so glad you're here open phones atle 88255 225 well we are in a couple of weeks here on the 21st and 22nd George camel and I will be doing Dave Ramsey's investing Essentials we're going to go indepth into uh investing beyond the baby steps detailed investing people have asked many years what do you do when you get into um you know class get past 101 and you go to 2011 301 and graduate school investing what do you do what do the people do that have a $10 million net worth or greater what do they do how do they think and we're going to go into it and I'm actually going to open my personal Playbook how I analyze a piece of real estate before I buy it and how I make a decision on a an investment and what are the principles I use and um and they're also the principles I've taught you guys but so we'll cover the basics real quick and then we're going to go into in-depth stuff and this is an a an online virtual event I'm doing it two nights it is two different lessons so you're going to be you're going to be involved in front of your computer or television or however you're going to do it uh two nights in a row May 21 and 22 and uh it's something you asked for a deeper dive you want to know how I do it and this is it so tickets are $249 it's ramsy solutions.com events uh over 2,000 folks have already signed up it's a huge event and uh we're really really excited to get to do this for you guys I was polishing some of the uh content with the content team this morning and really starting to build out some of the slides and some of the examples I haven't it's stuff I've never taught before in public so it's extremely valuable and for the record I followed this Playbook as well and and uh Stacy and I are going to be very comfortable in our old age assuming that she allows me to make it that far that's Parts up to me there you go all right Jessica is in Madison Wisconson hi Jessica how are you I'm great how are you better than I deserve what's up so I am a divorced uh mom of two teenagers and I've been fing your program actually since 2007 so I don't have any debt um no mortgage I have um a large savings and Investments I currently own a home um worth about 600,000 and my boyfriend of two years recently just moved in in January and things have been going fantastic however we are looking at purchasing a home and we're just figuring trying to figure out how to navigate that so because I don't have what's wrong with the house you're in uh it's 5,500 ft and I I'm looking at a 900 square foot foot home right now 900 yes okay and it's like a weight lifted off my shoulders thinking about that so I'm anxious just to have um something that's you know he and I and um and smaller and manageable um where your kids going to live currently they live uh between my ex-husband and I um they're 13 and 16 mhm and you're going to put two teenagers in a 900 foot house after they're used to living in a 5500 foot house yes so the 900 SQ foot house is going to have a small addition on it it currently has two bedrooms and one bath um we would do an addition of one master bedroom and another bathroom oh so it won't be 900 feet anymore yes correct okay and what will that cost all in so so the home right now is about 200,000 and um it's about 250,000 for renovations okay um okay I I'm okay if you want to do this uh if I were your older brother and you called me and said you know should I do this I'm okay with you doing it uh there's absolutely zero need for your boyfriend to be involved legally or financially if he wants to be involved legally or financially he needs to be a husband yes and that is something we are talking about well then do that first let's get stuff in the right order don't buy a house with somebody and put deed your name on a deed with somebody you're not married to that is a freaking nightmare yeah that's not the plan that's not the intention it would be under my name but that's what I'm wondering how do we navigate the financial piece of bills of taxes of renovation those kinds of things you're going to own it and you're going to pay for it all and it's going to be your house and then if he leaves it's not a problem at all unless he's your husband okay you do this deal because it's a good deal for you he moved in three weeks ago he a he a he does not get to own the house he moved in in January I know but you can I mean 20 seconds ago right I mean it's not yeah you're gonna charge your boyfriend rent you think that's good well no I'm not thinking rent well you're asking how he's going to get his how he's going to get in he doesn't need his hands on any of this and you don't need any of his money you've got plenty of money yes you sell a 600,000 foot house you end up in a 400,000 foot house I mean $600,000 house you end up in $400,000 house you can do this if he's not there and you need to do this by yourself or you need to be married one or the two because here's what happens you split up now you got to tear all this apart and guess what you're going to end up selling this house and moving again just to get the mess cleaned up because you formed a partnership legally it's a disaster so that's not really any my question my my plan thought you you asked how to navigate doing this with your boyfriend I just told you don't no I'm I'm sorry so not doing it with him on the deed or anything like that but him living with me essentially in that home yeah and you asked how does he pay his expenses I'm sorry so what is it you want to know about him living in the home we must be missing something so do we split monthly expenses do like how what what does that look like uh what is your suggestion with that's completely up to you guys whatever you guys want to work out your roommates okay so that's why it's much better to be married than you don't have to fight over the dead gun who used the mustard okay you just fight over who left the refrigerator door open but not who uses the mustard right so right yeah whose mustard is that anyway that's what happened in college with your roommate it just doesn't make sense don't do it we do get married uh when you when you do get married it's all one yeah we all own it's yours there is no yours in mine it's ours but until you're married you have a roommate okay and that's why it's not recommended because it's very difficult to navigate emotionally relationally and everything else the number of couples that far exceed are the couples that are married financially the data tells us the actual research tells us the couples that are married far exceed in their wealth building and their careers the couple that are shacking up mhm the numbers are are undeniable there's no question about it and yet today in America more people live together that aren't married than are so there's more Shack UPS than marriages in America today and yet the data is crystal clear that those of us that are married we have What's called the in the the statisticians call it the marriage advantage and that we outpacing our incomes and we outpacing our wealth building those that aren't married and shck up and so there's just no reason to do this I mean either get married or don't pain or get off the ladder you know but if you're going to do it you just got to figure out the terms of being a roommate but please God don't put him on the deed and don't don't don't let him put $100,000 into this deal to get this master bedroom added on and all that crap then you got to figure out how to give him his money back when he decides he likes somebody else or oh it's a painful mess and so uh and so yeah I I I just I just think charging your boyfriend for you utilities and rent just is a recipe for tension we know that money issues are the greatest cause of tension within married couples my goodness I just don't know why you do it I think you need a little bit of patience you're a mature woman who's in Good Financial stad I just don't know why you'd even take this on I think it's it's creating unnecessary relationship risk that's what I think yeah but anyway do do whatever you want to do hun but number one rule is don't buy houses with people you're not married to you're not you're saying you're not going to do that that's good number two rule is it's very difficult to navigate through what you're talking about as far as who pays for what inside of these things people have all kinds of different models and some of them are more successful at it than others and then number three the marriage Advantage uh in the statistics is something to seriously consider and so we always are big fans of marriage around here um because it you know because it's what's good for you and we love you guys we want you to win it's so simple this is the show [Music] [Applause] [Music] your home is probably the biggest purchase you'll ever make and with a real estate market like it is now you'll need a mortgage company you can trust that's Churchill Mortgage you guys buying a home is not a button push it's a process it takes building a relationship with an expert who will dig into the details and give you peace of mind without busting your budget Churchill is one of the highest rated lenders in the country and they're ramsy trusted because they do what's right for you go to Churchill mortgage.com to get started [Music] Ken Coleman Ramsey personality is my co-host today in the lobby of ramsy Solutions on the debt free stage Mark and Kelly are with us hey guys how are you hey guys good good good where do you guys live Ford Collins Colorado oh fun very cool well welcome to Nashville all right and how much debt have you guys paid off off 305,000 84 months wow very good and your range of income during that time about 145 to 300 okay cool good for you what do you guys do for a living well I was a general contractor and just switched careers to a business consultant M and I am an environmental scientist with a large environmental consulting company wow very cool and what kind of debt was the $35,000 for 7 years it was our mortgage look at at where people we've been waiting a long time for you guys to call us that that's right I like it how old are you weirdos 47 and you have a paid four house in Fort Collins Colorado we do that is worth what 675 I love it and how much in your nest egg and your 401ks and stuff about 750 ah look at you baby steps millionaires yeah way to go man that's it's so weird to say isn't it it feels incredible you don't you you don't look like a millionaire you don't feel like a millionaire but you're a milona where to go man where to go that's so cool good for you good for you so s years you've been working on paying off your mortgage tell us the whole story how' you get engaged in this ramsy stuff Dave Ken 2010 I hit a low point I was uh recently divorced I was a single dad of a 2-year-old renting a small condo and I took my daughter to this neighborhood park with these cute houses around it and there was a real estate sign for one of them one of them was on sale for sale I read read the sign looked at the price and it just hit me that with all my debt I think I was in SE about $70,000 in debt I am never going to afford this and I just felt so terrible about myself at that moment um I went home felt sorry for myself for a few days and uh decided a few days later before I even heard of you guys I was never going to borrow money again I was done with debt I was going to pay it all off and do it a different way about 3 months later my church is doing FPU I didn't want to pay the $100 cuz I was so focused on paying off my debt and uh the the facilitator scholar shipped me in and just made me promise that I would help facilitate a future class so when I got in the class I was just ready to go I was primed W you were already going everything you guys were saying I was just ready all we did is tune up this engine that was already going that's right that's right so I was single at the time and then I met this wonderful woman we got married and then yeah it didn't take much for me to get on board I always thought I was good with money because I had a good credit score and I paid all my bills on time but it wasn't until he kind of introduced me to the baby steps and you know all the Dave ramz material that I was like oh wait here's a path to do more I had never even dreamed that like you could have a paid off house at our age that wasn't even in my mind I thought if you paid your bills on time and had a few thousand dollars in savings you were like living the dream you know you know I'm struck by how many months you this is a size of little payoff too but you guys stayed with it I'm curious for folks listening and watching what did you learn about this process of discipline over that length of time seven years well we learned that together we can do anything um in those seven years we had cash flowed IVF um we cash flowed some house renovations after we paid off our Consumer Debt we paid that $40,000 off in the first year and um and then we bought a really nice car and when we bought that car with cash and we had this thing I mean that's the moment that I knew we can do anything yeah and we set this goal and said we're going to go after it oh is that the picture of the Dodge Ram and that we just saw on YouTube that's the new one that's the new one oh that's what you just got just got that this weekend so that's how you celebrate it that's right that's brand new that's brand new to us oh no it's not it's not new no oh you're Millionaires and you're you can get one if you want we're still cheap come on very very gently used easing into the that's a great way to celebrate paying off your house by a truck that's right that's right oh yeah yeah Dodge Ram appreciates the free commercial that's right but I would like to back up and just say when we first got married we paid off the 40K and then we were newly ws and we wanted to expand our family and it wasn't happening 2 and a half years later we were like okay maybe we're not going to have a you know a family but then we decided to do IVF and because we had been diligent with our finances and we had paid off all of that Consumer Debt we had the cash saved up to do it and it was such a blessing to not have to decide between expanding our family and paying off debt you know it just felt like once we committed and we took all the right steps the blessings abounded you know we were generous through the whole um seven years and things just fell into place when we were doing the right steps and we were you know taking it seriously things worked out every time they they flip the picture on and then back off how many people in the family now how many kids five five well I'm sorry three five of us yeah three kids five five of us in the and your yours from before is one of them right our middle is his daughter and then we have a 19-year-old daughter we were blessed with through foster care and we have our six-year-old son that we had together I love it okay I'm catching on okay now I see it all right Wow way to go guys yeah so I think this is an important thing to just stop and say if you're out there listening and you're sitting in a park with your 2-year-old looking at a house you can't afford across the street that just went up for sale that was 2010 this is 15 years later you're worth 1.7 $1.5 million and 100% debt free happily married kids everywhere so that hopeless person sitting there after a divorce beating themselves up 15 years from now you could be these guys yeah I mean this is a complete story right here this is a full full story arc from the bottom up can I add just a little bit to it yeah so so my I'm com from an immigrant family M I was born in Russia we came to the United States in 1981 and I might get a little sappy I'm I'm not a crier but I might cry up here guys my family worked so hard uh you know coming to this country with absolutely nothing and all they wanted for us was you know for us kids to have a better life and I had messed that up so bad um you know and realized that in 2010 so to be here on the other side of all that and you know my my dad died young he ended up developing mental illness sorry guys and you know just to tell my parents and my dad in heaven you know that we did this and thank you so so much for all the sacrifices that you guys did for us and and we just hope we've we've made you proud you have you have you're Heroes man yeah did it you're we're so proud of you well done well done well done who were your biggest cheerleaders each other each other and Financial Peace classes cuz you must have gone back and coordinated right and we facilitated some we did the Legacy Journey we facilitated Legacy Journey yeah yep and then I but back to what he was saying my family is also an immigrant family my grandparents came in from Denmark they had seven kids they didn't speak English they worked lived in a church and so it's like a legacy right the sacrifices that our grandparents and parents made I feel like they're our cheerleaders amen you know they set the platform for us to have this opportunity amen amen well done well done well said well I just think your story is fabulous because you painted the picture so with such bright color where we could feel ourselves sitting with you in that Park looking at that house you can't afford and getting disgusted with yourself I've done the exact same thing get disgusted with myself and that's right before crap changes I'll just tell you man you get sick and tired of being sick and tired that's when it changes that's when you transform it's not when you figure the math out it's when you get mad that's right A righteous anger at the situation and that just changes everything and uh until then you're just wandering along another another broke person in America that looks like they're not broke right and you you straighten it up man I'm so proud of y'all thank you well done very well done Mark and Kelly Fort Collins Colorado 305,000 paid off on their $600,000 paid for house and oh yeah they're baby steps millionaires in the process what a great story you guys are inspiring very well done 305,000 paid off in 84 months making 145 to 300 count it down let's hear a debt-free Scream 3 2 2 1 we're dead free that's how you do that woo I love it this is is the ramsy [Music] show hey guys Ramsey solution started small and grew fast because of that rapid growth there were times when our systems slowed us down that's why we switched to netsuite it works for us and it'll help your business too whether you're starting on a card table like I did or you're well on your way to becoming a multi-million Company netw Suite can scale with you and help you communicate and plan better because you know your day-to-day up and down ins sideways but accounting analytics and supply chain are on another level so maybe you're just not techsavvy that can be okay net Suite will help at your speed and whatever your situation more than 307,000 companies use netsuite to know their numbers and their business better so check out netsuite today and find out how they can help you become the business you want to be 5 or 30 years from now and right now you can download netsuite's free kpi checklist designed to give you consistently excellent performance at netsu / Ramsey that's netsuite.com [Music] Ramsey Ken Coleman Ramsey personality number one bestselling author of the book paycheck to purpose is my co-host today Michael's in Atlanta hi Michael welcome to the Ramsey show how you doing Mr Ramsey better than I deserve sir how can I help so I just want to say appreciate everything you do for everybody I grew up in a in a in an awesome family awesome life and everything and my two financial advisers were Clark Howard and da Ramsey so I'm honored to be able to finally get her into a phase of life where I can make this phone call and uh and uh being a being able to talk to you so I thank you for that well thank you we're honored to have you how can we help start off by saying that I'm sorry I'm sorry say it again I said we're honored to have you how can we help yes sir so I'm 27 years old and I work for my family business my second job is an ice business and the owner is wanting to sell within the next next uh two years or so the sale will come with a building with existing tenants and the ice company itself he's asking for $1 million uh as a married 27y old renting from parents with no meaningful form of assets besides uh vehicles and what we have in our savings and Investments uh what do you think the best way that I can get a loan that big uh for that for that size um we me and my wife currently are living at my parents house um we have no form of debt besides or than thanks to you no no debt we we worked hard to pay off all of our student loans and credit card debt and everything we do have one car loan right now that we're trying to knock out as quick as possible um but like I said no form of of assets or anything like [Music] that um well I I'm a little bit confused about the part where you listen to me for years and then you just asked me how you can borrow a million dollars right exactly that's a little bit inconsistent isn't it I mean you kind of know I don't do that right yes it is and with the other previous callers I was thinking I maybe I should change the word from borrow to be able to obtain the business for that price so uh I do I do apologize let me back up what is the best route for somebody in my shoes to be able to obtain the business okay cuz well I mean there's you don't have a million no bank's going to loan you this okay like you said you don't have the assets you don't have the income you're not bankable a banker would just um it would take about a I don't know less than four or five seconds seconds to make the decision you're not going to get that so um even if we all thought that that was a good idea and we don't so the what I would do is the first thing I'd do is separate the business from the real estate okay let him keep the real estate good you go and the business can be his tenant until you save up the money to buy the real estate later you could do that out of the business so what do you think of the million dollars what do you think the real estate is actually worth market value so we haven't dug into the books or anything no I didn't ask you about the books I asked you about the real estate what's the real estate worth the building approximately $750,000 okay so you're wanting to buy an ice business for 250,000 bucks sounds right to me okay so it should be making a profit after everyone is paid including the manager of the business after everyone's paid Market wages that business should be making a profit of60 or $70,000 a year is it 60k um oh you haven't gotten you haven't gotten book yet you don't know correct correct uh this is this is something I want to try to figure out a route before to see if it was even attainable before I dug into the books let me ask a real quick question okay yes sir if you weren't working for this owner and they had not approached you about selling they want to exit would you be wanting to get into the ice business if you weren't currently working for them and this wasn't an opportunity I I I believe so okay so like if you weren if you weren't working there anymore a year from now you would be going I got to figure out a way to get in the ice business uh I I believe so I I think it's it's very lucrative and I see a lot of opportunities in the in in the ice World itself um so I'm glad I was introduced to it very young yeah and I think I think my answer would still be yes that's not your family though that's the your family is a different business correct okay I want to make sure I got that straight okay all right um now here's what I would tell my son if he was your age and came in and sat down at my kitchen table I would say you need a better you need a stronger personal financial Foundation before you start talking about buying and running a small business buying and running a small business will take the bone marrow out of you it you it will drain you it'll it'll squeeze you like yesterday's dish rack man you got cuz it it it becomes a mistress if you're not real careful cuz you have to put everything your all your emotions all your intellect everything into it and you got a car payment and live with your mama so you're not ready to do that M so you guys need to get out on your own and be debt free and have a solid foundation in your life before you start talking about buying business this is what I would tell my own son mhm okay okay and can I can I ask a question correlating to that sure I I see this opportunity and I could see this opportunity as a long-term investment a longterm a great thing in just longterm down the road and everything I'm wanting I'm not wanting to pass up on this opportunity as it comes to me right now and in my brain you could tell me if I'm wrong you're wrong I just told you you were wrong I just told you not to do it pass up on it pass it let it go let it go get ice business later when you get your freaking act together you don't have your act together yet about all you're good at so far is talking yourself into this yeah it's not an opportunity it's a trap yeah with your current environment Michael you don't have you don't have any money you have a car payment you live with your parents you I'm telling you man you really got to get out you got to get out and get on Solid Ground to have a chance of making it in business business is hard it's hard and you don't do it from your daddy's basement it's hard and you don't do it with a car payment you know it's not it's you you need to get a solid solid foundation and I don't think we can stop you you got your foot on the pedal you're heading off the cliff nobody sign bridge out bridge out bridge out I don't care I I I Don't Want to Miss a chance I'm taking the jump It's a chance to go swimming day that's it man it's that's the metaphor there we can't stop you so have at it son but I wouldn't do it I'm telling you I wouldn't do it I think you're going to have plenty of times in your life to get into business and do it from strength not from weakness and you need to build some strength to do that that's what I but I I it doesn't affect me honey if you want to do it you go do it but you ask what we would do and we love you and we want you to win I told you exactly what I tell my own son who I want to have a great life and prosper just like I want that for you so you do what you want but I don't think you're in a position to do this right now and I would not do it I'm not a dream killer but I love stepping all over nightmares I love kicking a nightmare out the door yeah so oh here's a quick message for and and this listen we've all been your age and brighte eyed bushy tailed excited about what looks like an opportunity and this is a situation Michael if you were to jump into this in your current environment you wouldn't even be able to be fully focused like Dave said you need to be on a small business because of the financial stress you're not in a position where this thing can take care of you and I didn't hear enough evidence either and this is a positive I'm not in on here I didn't hear enough evidence that he understood the business Hees yet and that he could truly grow the business in order to say I could actually run the business I'd like him to prove to the current owner that he through his efforts Michael we're talking about can grow the business yeah yeah I mean I would sit down and talk to the current owner if you want to do this Michael here's a way to salvage the idea I guess and say you know put me in leadership role for the next two years that's and I can get out and get I can get my personal finances and straightened out and then I want to and then I want to talk to you I I'll take an option to buy and then I I'll talk to you about exercising that option but I'm not bound to it not contractually love that conversation and you can have you can be sitting there learning the business inside and out you may learn you will learn a lot more about it than you know now and you may learn the actual valuation is off yeah and that's that's such good advice I hope everybody's listening to that because that actually creates an opportunity doesn't mean it's a good opportunity but right now what you have is not an opportunity if you go the Dave route there now all of a sudden it becomes an opportunity and then have the option to choose to take the opportunity and that's what I like about that there might be some Sweat Equity in that plan too if it helps grow the business the best business deals I have ever done in my life are the ones I passed on that's so true that's good they're the best ones yeah this is the ramsy show [Music] [Applause] [Music] n [Music] brought to you by the every dollar app start budgeting for free [Music] today live from the headquarters of ramsy solutions it's the ramsy show where we help people build wealth do work that they love and create ual amazing relationships I'm Dave Ramsey your host Ken Coleman Ramsey personality number one bestselling author of the book paycheck to purpose is my co-host today you jump in we'll talk about your life and your money at [Music] 88255 225 ja is with us in boisey Idaho hi Ja how are you I'm doing well how are you guys doing better than we deserve what's up well thank you so much for taking my call so the short summer of it is that I grew up with not a lot of money um money was really tight and now that I'm an adult I'm making more I'm able to save for retirement I'm meeting a lot of savings goals and I feel responsible to pay that back to my parents and specifically my mom uh she has very little in savings and she's approaching her 60s I think she's going to work through retirement but if anything comes up with her like medically or anything she's not going to have any sort of fund to help support her in that so I feel kind of responsible for that so I'm wondering what your opinion is on [Music] that well um my opinion is is that you're not responsible but you're allowed to have that feeling um it means you're a sweet person you means you love your mom um but uh uh morally ethically legally you're not responsible my children aren't responsible to take care of me I'm responsible to take care of me I'm 6 I'm 63 it's my job to pay my bills and I I don't want my children I don't want to be a burden to my kids okay so where so if I did want to if you want to help and the goodness of your heart that's different than being responsible yeah um so where would that fall in the baby St cuz right now I'm saving up my emergency fund by the end of the year I'll have enough and then you know I'm still in my 20s I'm going to be saving up for a house payment um eventually a new car all that kind of stuff so I'm still kind of working my way through building my own life so what's the amount of money that you think you need to contribute to help her or that you want to contribute what's that number um so I was kind of looking at it over the next 10 years or so if I save like a100 every paycheck or so save it in like a high yield savings account um I was looking at about 20 grand by the time she's like older age and if she needs the money it's there as a cushion but so that's how many years from now I like 10 to 15 years from now um just as like a back you so you don't need to do a thing except walk the baby steps okay because that'll cause you to build wealth and you'll have an extra 20 grand you can just reach into one of your accounts and pull it out the the way you get ready to help someone else is you build wealth okay you don't have to have a mom fund on the side you just go become wealthy and the shortest way to do that is walk the baby steps so you're how you're how old today I am 28 28 okay and what was it you said you do for a living um I work in Tech okay what do you make make about 100K good for you well well done okay be a great Hightech 28-year-old and therefore I want you to be a millionaire when you're 38 okay so that just means you're going to manage all the way through these baby steps clearly and carefully and in detail the way we teach you we'll help you do that that's what we do and then when you're sitting on that if you want to take you know 20,000 of your million and help your mom well that's a very nice thing to do that is different then I am responsible for my mother and I am a horrible person if I don't write her a check because she was good to me when times were tough when you're good to your kids when times are tough because that's what parents do it's not because we expect a payback okay so I do feel like a sense of responsibility um I do get messaging from her of her like kids are expensive and she wishes her life like she didn't have kids kind of stuff like that you didn't cause any of this okay you didn't choose to be born she chose for you to be born that's on her so you don't get she don't get to play that card I'm sorry her whining does not transform you to inter to ethically become responsible for her follow me yes I do does that sound does that sound mean see the difference here is is just love okay and when you're acting in the goodness of your heart with an open hand out of love that's true ministry that's true charity when someone's guilt tripping you and they're a travel agent for guilt trips and they make you think you have a moral or ethical responsibility that you don't have because they somehow feel entitled or they have assumed the position of victim that's way different than generosity and I want you in the generous Camp not the uh obligated to something you're not obligated to camp but go make you a whole bunch of money and then you can decide what you want to be yeah I really like that advice like kind of just follow the baby steps build my own wealth and then eventually pull from that instead of doing something separate for her yeah I mean I think that's really good advice if I live in a I live in a community and I know there's a child on the other side of the community that's hungry it's a wonderful thing for me to help them it's a wonder thing for me as as a person who's built some wealth to feel a sense of responsibility to make sure that child gets some food okay but that is still an act of generosity an act of Charity versus uh the government coming along pointing a gun at my face and says we're going to raise your taxes so we can take $100 from you in order to spend $100 of your money to buy $10 worth of food because we're the government we're idiots that's what taxes are that's far from charity it's inefficient generosity that where you stole someone else's money to do good with it it's a whole different mindset it's a whole different thing one's compulsion and one is volunteer and your character is built when you're volunteering your character is not built when you're doing something is an act of compulsion you are becoming a better person when you are generous not out of compulsion but out of capacity yeah Jay here's what happens the weird irony here here is is if you receive that responsibility from your mom and I don't think she's healthy and I don't think she's trying to manipulate you but it comes across that way and if you receive that responsibility from her what's going to happen is you're going to end up resenting her yeah and so the the heart that you have as a daughter is I want to be in a position to help Mom if she needs it and Dave has given you and you've received it you totally got it which is awesome but the alternative here is is you start to resent the very person you want to help you don't want that I'll tell you the other thing that goes in this whole discussion that with our Christian Christian brothers and sisters out there some of them are oversaved and they get confused about honor your father and mother honor your father and mother does not mean you're going to give them money ridic regardless of their ridiculous behavior that is not honoring if your dad's doing cocaine you don't honor him by giving him the money for it that's not honoring you don't honor someone by helping them with their misbehavior that's not honoring we honor the position of mom we honor the position of father not of every stinking behavior that the human being engages in this is the ramsy [Music] show if you're like most people your home is your most valuable asset and when you want to make improvements it can feel like everything costs too much or takes too long but something as simple as custom window coverings from blinds.com can completely change your space and add value to your home we've recommended blinds.com for over a decade so you know you can trust them from blinds drapes and shutters to motorized Shades they make it easy and affordable to upgrade your entire home and their team is ready to help with everything from design consultation to measuring and installation plus there are never any misleading quotes or hidden fees everything's backed by their 100% satisfaction guarantee and shipping is always free see why blinds.com is the number one online retailer of custom window coverings visit blinds.com to get up to 45% off that's blinds.com rules and restrictions May apply [Music] Ken Coleman Ramsey personality is my co-host open phones atle 88255 5225 hey your brand new book find the work you love the get clear assessment find the work you're wired to do is uh coming out in May early May and we've got it on pre-sale right now it comes with the get clear assessment which just under 100,000 folks have already taken at ramsy solutions.com and gone to the store and taking it and the the assessment the book is how to read your assessment results and it comes with a code for you to take the assessment right it's absolutely right so the assessment is really a a self-awareness test a let you see this is what I do really well we're talking about the world of work this is what I enjoy doing and then this is what motivates me and if you put those three together and we do it for you with very detailed results in a purpose statement that you can think of as a essentially the ultimate job description for yourself and then the book meets you there and says all right how do I go about getting there now that I know uh who I am and what I want to do how do I get there so it's a great companion great graduation gift by the way we have over 52% just a shy over 52% of college grads Dave are uh not working in the field that they studied and so this is a great graduation gift as we see a lot of kids moving from college into the real world and and we have high schoolers that have taken it as well and again a great awareness tool as they begin to think about what their future Direction looks like and I know for many parents that's the biggest weight they feel at this age and stage of of of parenting is is my kid going to make it and find their way and that's true if you're 52 well that's true too that's knowing what you're wired to do it it sets you free yeah it does and it gives you raises your energy level to go do it yeah and your income potential yep you know so it's a fun little tool and now the book comes along and it's like me coaching people with their results so they can choose their professional Direction yeah so if you this is your last week to pre-order because it comes out next week the get clear assessment find the work you're wired to do when you pre-order it we're also going to give you the audio book and the ebook and each one of those come with a code for an assessment so you're going to have a total of three codes for the assessments so you'll be able to give one to a spouse or to a friend or uh maybe you've got two kids I don't know whatever it is and it's a great way for you to get the access to this material and get all the coaching direct from Ken and so people are buying it like crazy as grad gifts but they're also buying it just cuz they want to know you know why am I on this stinking Planet why'd you put me here Lord what are we doing ramsy solutions.com store and you can get all of those items if you order it this week so be sure and do that Caleb is with us Caleb's in Harrisburg Pennsylvania hi Caleb how are you hey Dave if I was a dog I'd be wagging my tail thank you so much for having me on here you're welcome how can we help yeah yeah so I'm calling in I was introduced uh to you by uh by my manager uh who's mentoring me and really look got excited I mean I dove um you know head fast and tore through The Total Money Makeover got super excited uh to to pay off our debt and uh I'm married as well and uh you know when I started bringing this to my wife um kind of hard moving through some of these conversations uh you turned my name into a c in your house I'm doing my best not to Da doing my best not to um so I'm looking at the book right now where she she set it down so she has been uh you know kind of perusing through it and um my biggest thing is I I just want to you know it's been about a month and a half since I uh finished the book and I I know I can't do this by myself you know we're a team and and we have to both be fully on board um and but I don't want to keep waiting uh to be making right decisions so I I I've done things like I I have the every yach dollar app and I've been trying to budget um but you know without it really being like a twers effort on this it's I just want to know like the dare I say the baby steps to to try to get to the actual baby steps um where is she challenged the most where's the greatest objection because that that's a good place to start what do you see what are you hearing yeah so we've had some conversations of one one thing is gosh my excitement for it um when I get excited about something I get very passionate I can uh get kind of overwhelming I do know that about myself okay that's a good one so so you did turn my name into a cuss word okay all right she's already sick of Dave Ramsey okay all right you you done you got you got some on your shoe man I'm just saying okay so um and then yeah when I when I get excited and and I want to talk about these things such as like hey let's let's just stop using credit cards and um hey let's uh sit down and actually do a budget every single uh you know talk about this every week so we can stay on top of this and um I'm trying to like bring in the things that um yeah are you 27 you know the reason I'm 26 ah okay almost like I've done this before okay how long y'all been married five years or six uh three coming up on three here okay good good all right because this is the same exact stuff I used to do so it's easy for me all right so here's what I learned the hard way because I'm wired just like you I'm way super excitable I get fired up about stuff I go down a rabbit hole and you can't even find me I got lost down there and so um game on you know pedal to the metal let's do it what are we waiting on I mean why why can't you get why can't you figure this out it's smart I figured it out let's go and uh none of that of course works so uh and that's what you're finding so what I want you to do is stop talking about what to do we need to do a budget that's a what to do we need to cut up the credit cards and stop using them that's a what to do what I want you to talk about is why why is it you want to do this so that we can build some wealth and have some peace and be on the same team as a married couple and if the number one cause of divorce and and arguments in marriage is about money if we could get rid of the number one problem in marriage has to make our marriage better that's why I want to do this I want to do this so we can become wealthy and go on a vacation anywhere we want to go anytime we want to go I want to become wealthy so we can be outrageously generous when we see a need in the marketplace a Ministry that we can support or start um I I want us to be wealthy so that our kids can go to school and have no student loan debt I want to talk about why and get her involved in why you got excited you nobody gets excited about doing a budget the only reason we do a budget is because it's the shortest path to get there the only reason we stop using the credit cards is it's the shortest path to get there but nobody enjoys the exercise well a few of you sick people do we just enjoy being a little bit thinner okay I'm one of those sick people that enjoys the exercise but you see what I'm talking about but I mean you see the idea being you need to sit down with her and quit uh show talking to her about what we've got to do and and say and ask her what would what would be her favorite thing about being wealthy and what what what would we have to do to get there then and and how's it going to feel when we live in a paid for house and have no bills anywhere that's what I get excited about honey and and then you got a reason for you being excited rather than just you know slapping her upside the head with a book yeah and that's what I've been really trying not to do you did though yeah you did I did you completely and you probably start this conversation with an apology for doing that okay and I'm going to add just because you gave us a hint this is a pattern for you this and she thinks this might be the next new shiny thing and she thinks it's another fad and I she she thinks if she's quiet long enough you're going to get over it yeah but I I I think you got to show her the facts and go this is a lifestyle and Dave gave you a master class on how to get buying I don't think she's resistant as much as she's just kind of like whoa take it easy man I can't breathe down boy down down boy down yeah like a freaking labador retriever man it's just like love them they're just awesome they're enthusiastic wow it's fun it's fun yeah this is the ramsy show [Music] statistics show that half of Americans don't have enough life insurance or they don't have any at all I don't understand this John why don't people want to take care of their family they think they're going to die or something well I used to be one of those guys I didn't even think about it and one of my buddies said hey the only reason to not have life insurance is if you hate your wife and kids and I immediately went and got term life insurance that's a gut punch and oh you're telling me and for for decades Dave I've sat across people who've lost a spouse they've lost somebody important to them they don't know what to do next me too I mean you're going to have a crisis here and you know you got two options while you're sitting and talking to a young Widow she's concerned about how she's going to invest all this money properly and not mess this up or she's concerned how she's going to eat tomorrow that's exactly these are the two options take care of your dadgum family man term life insurance can replace income pay off Deads cover funeral expenses so your family can actually have the opportunity to just be sad yeah to just miss you that's exactly what it's supposed to be it's saying I love you to your family term life insurance Jeff Xander and the team at Xander Insurance makes it easy and affordable I've used them personally for 25 years they're the only people I trust go to zander.com or call 800 35642 [Music] 82 guys our rankings on all the podcast and YouTube platforms and even in talk radio or through the roof thank you to all of you out there who are telling people about the show and following us and listening and downloading and viewing and all that stuff you do if you want to help us further we could use the help we really do need your help uh if you click subscribe or follow on the platform that you're consuming this on it's a big help it jacks up every one of those algorithms thank you very much for that so subscribe or follow also share the show some of them have a share button sometimes you can just uh cut and paste the link for the show drop it into your email send it to somebody say Hey listen to this uh that's a big help or just tell people about it you can do that too that works hey this is where I listen to the show on talk radio this is where I uh you know watch the show this is what's going on Word of Mouth Is everything and uh think about how many times you read a book or watch a movie because some of your friends told you and uh that's what that's what drives us forward for sure so thank you guys for doing that and continuing to do that Albert is with us in Washington d hey Albert welcome to the Ramsey show thank you Dave uh pleasure to talk to you and pleasure to talk to you Mr Coleman uh my question is is job hopping going to bite me in butt uh the reason why I asked is because over the last five years I've pretty much had five jobs that first one I did have for five years but ever since then it's been four jobs in a row of only about a Year's worth of time the money has increased substantially but I'm just worried this is going to come back and and yeah and get me yeah so are you chasing jobs for just money each time because of opportunity and we saw that during the Great resignation so the the environment was right for that over the last two years that's changed so my question is were you hopping just for the increase or were you hopping trying to find that thing find the right environment it's it all of these jobs have all been in the same industry in public utilities and it just gone the increase in Pay has come along with an increase in resp responsibility learning new things involved in the trade and so it's just gone from being a a meter reader you know reading water meters to doing water treatment then wastewater treatment then County Utility management and just on up interesting so five different organizations or were there any moves within one organization there's there's a couple moves within one or two organizations uh within that year I might have moved up from one position to another so how many times did that happen that's relevant to the answer to your question how many times did you move up within an actual organization of the five jobs that of the five that happened twice okay so first of all that's not job hopping so we can take two out of yeah that that looks good you know that shows somebody that you earned it or that you were perceived as valuable enough to earn it so the other three are the ones that you start looking at and if a narrative can develop it will so on the surface uh yeah three jobs in three years uh you know we we need a we need a narrative and an explanation for that now let's say that um one of the three you were recruited did that happen did somebody come after you or were you actively looking in all three of those uh three of the CH job changes were for moves the other two were from LinkedIn and they were recruiting me and that's what that's why I'm asking I've got a job opportunity coming up right now which would uh be another move after I've been in my current place for 14 months and it was somebody was recruiting me from LinkedIn it's effectively going to be about the same uh title but about a 40% pay increase all right so let's look at the long term because short-term sounds great as longterm as this set you up uh with a really good path forward or is it just more money it and you know what it's probably just more money I I think my current position has a path forward as far as moving up and then so does this job so okay so here's the deal if both of them allow you to move up the ladder you want to climb then it's a no-brainer and this is not flaky when someone is recruiting you uh that's that's a very different story than you just being with somebody for a year and going I'm tired of this place and I'm looking for the next place if someone's coming after you that's the nature of the corporate world and that's not flaky that makes you look very valuable okay well that sounds great I like the way you put it but that has to be true obviously and in that situation if the hiring manager perceives that the first time someone comes along on LinkedIn and offers you more money you're going to leave yeah that's the day you're not hire a boy anymore that's my yeah that's my worry yeah if you turn into a mercen if they if they perceive you as a mercenary you're going to go to the highest bidder then they don't want to screw with having on board you and then you turn around and head back out in8 months just cuz somebody else hit you on LinkedIn so um you know it's you know that that I and I don't know how you keep that from happening with what you're describing so um I think you've got valid explanations but if the if the hiring manager perceives that you're going to go to the highest bidder as soon as the next link LinkedIn connection happens then you're done they're not going to hire you yeah to that point in this current situation have you been in the interview process yes and they know your history yes were there any flag did they ask you about it I we we did have a discussion about it and in fact I may have just made sure that they understood that at my current position in this management rle I only had a year and they said that's fine you have you know effectively 10 years in this industry and that knowledge is valuable to us so they were no that that was to develop expertise that's not stability that's right so that that says to me that you have expertise in the industry I don't care whether you were I've only been there a year but it doesn't matter you've been in the business so you know the business that's what that's saying that doesn't say you're going to stay yeah here's the here's the real answer Albert this is a 5050 deal Dave because in today's labor market we are still at 3.8% unemployment and a lot of companies are desperate I don't think we would go about it that way I'll guarantee you we wouldn't hurt I know and I think that's what I that's this is one of those 5050 deals and I think what I would say is is uh I want you always making moves that are moving me forward on the 15 to 20 year play yeah and in that case it's a calculated risk but I think this has some risk and you have to weigh that yeah it's a good discussion Albert and here's the good news it you're the kind of person that asks the question and is worried about it which makes you the kind of person that can survive this narrative and so they may hire they may hire you in that situation but in general for folks out there when you jump Albert's right to ask the question because when you jump to jump to jump as an employer uh if I think you're going to go right back out the door as soon as I get you onboarded just because somebody hit you up on LinkedIn like I did like our recruiting team hits you on LinkedIn you came over here and then the next thing that comes along you're going to come along then I don't need to I don't need a fool with all that I'd rather just I want to hire people that are going to stay that's right uh at least hopefully you know it's a blinking yellow light on paper and then you're going to have to win the conversation and and show that you actually are a loyal person and you just had a string of you know some opportunities this is pretty abnormal you know I get this question on our on trade leadership podcast I do a podcast once a week for small business people and I get this question all the time and one of the things that Ramsey fell into and this is really it's a a side from Albert it's not an answer or a directed at Albert at all um was that we also used our recruiters will use LinkedIn we'll reach out and try to M hire someone when we are doing that we've had to learn to be very careful to not attract someone who goes yeah it's like walking I told one of our recruiters it's like walking down the street and going up and knocking on someone's door that does not have a for sale sign and go hey would you sell your house that's right they go well yeah for the right dead gun price I would and because everybody's heard the story about somebody who paid too much for a house and the guy just sold it yeah okay I'll take that and you yeah sold my house why' you sell your house got knocked on the door give me a ridiculous number well it's the same thing if you're out there recruiting on LinkedIn and you pull somebody in well I wasn't looking for a job but I'll go over there and then guess what then they're going to do it again then they're going to do it again if that's so we've had to be careful to not do the uh knock on the front door of the house routine on LinkedIn in terms of our recruiting Because a couple times we've actually done that and it bit us as as employers it bit us so because they don't stick or they've got a horrible attitude because they're just here for the money or whatever and that's a hor you know you hire people that work in a j o God just get oh killing me killing me so yeah you got to show up and actually care so um yeah but that none of that's directed at you Albert but that's just something we learned in recruiting during this great resignation thing right CU we were having to do more outbound recruiting than we've ever done to get the right positions have some very specialized positions to fill this is the Ramsey Show [Music] you know it doesn't take a degree in statistics to realize that this one stinks 93% of undergraduate private student loans are co-signed so when you're delinquent and drowning in private student loan debt mom or dad Uncle Joe is stuck in that Financial stress along with you but there is a way out why refi why refi offers a custom refinancing option with a fixed rate loan based on your ability to pay and the average interest rate why refi offers is 3.9% which can significantly reduce your monthly payment and decrease your total cost why refi refinances your defaulted private student loans that other places won't touch and I trust them to help you get out of debt so don't be another statistic in the student loan swamp contact yrii at 8442 Ramsey or go to Y refi.com Ramsey that's 8442 Ramsey or the letter Y then rey.com SL Ramsey [Music] [Applause] [Music] thank you for joining us America we're so glad you are with us open phones at 8825 5225 Mike is in Las Vegas hey Mike what's up hi Mike uh Dave thank you so much for taking this call from me um so um I've been in a pretty good lucrative sales career for a lot of years and uh recently lost my job um performance-based industry of course things happened but um I started crunching some numbers and I've rack up including my vehicles and credit cards about $93,000 in debt I'm paying about $0000 a month in interest alone and so I've got this Ira with about $150,000 in it and I was thinking to myself cash it out take the penalty and wipe all this out and start fresh how old are you I'm curious if you think that's a good idea or not how old are you 49 okay what were you selling um I was working for a hospitality company here in Las Vegas okay in sales making about $6,000 a week and so it's just taking a little longer to replace the income $66,000 a week yeah so you were making 300 Grand yeah okay and you were not performing and you were making $6,000 a week so I was in a leadership role and it was a team thing I see okay so you weren't actually doing so sales part of my job was sales but mostly leadership yeah okay all right um are you married I am a single dad I have an eight-year-old son and so you know part of the thing is you know I don't want to put my son in public school he's been in private school since he was you know in preschool and so there's there's there some big bills that that I'm dealing with yeah well that wouldn't be caused by the debt that'd be caused by the lack of income yeah so it's all it's all adding up yeah and you know I had you know several months of a nest egg but I'm getting towards the end of that I'm I'm trying to see where I can make some so how long have you been unemployed um it's been in two months okay all right first I'll answer your question but your question is not your problem it's the symptom of your problem your problem is income and job your problem is not debt your de your lack of income has has shined a light on the stupidity of your debt but it's not it's not caused the problem the problem is the income evaporating and not replacing it for two and a half months so the answer is no you don't cash out your 401K for this you get a job and solve the income side because if you cash this out you're going to get hit with if you make the same kind of money you're going to get hit with a 10% penalty plus 30% of taxes so 40% so it's like saying hey Dave I'm back to against the wall should I borrow money at 40% interest and pay off my debt the answer would obviously be no you do anything to keep from doing that because 40% oh my gosh you know you never borrow money at 40% interest you never borrow money but never borrow money at 40% interest ever so what we got Ken is a career crisis we got a job crisis so let's get the guy a job what do you think yeah so you've been in leadership how long were you in leadership uh prior to actually being in sales just a sales role uh so I've been in leadership in sales for five years and then before that I was in just selling yeah how aggressive have you been right now to get back in so I I've recently taken a job um in solar just to see if it's because you know it's a booming Market here in Las Vegas but going to take some time to build up okay what does that mean you straight commission or you're on a very low salary I mean what what what what yeah the salary is 20,000 a year and then it's all Commission on top of that all right so that you just took the first thing that kind of came your way right yes all right so where you stand right now you're you're a veteran here how long is it going to take you to get to a point where you're close to what you were making before in this Solar Company I'm thinking 60 days 60 days okay mhm that's not that far so you know you've got now we got to sit here and go okay got this Gap all right and so how can we float and survive for 60 days putting all your effort into winning because if you're going to start making the 25,000 a month uh in 60 days you're going to be fine I think you're okay I wouldn't be panicking right now only this time pay off the debt with the dead gum income don't spend it all again I'd get on the phone with his debtors and I'd start telling them your situation and your reality well 60 days is not 60 days 60 days is when he reaches the top that's right on the way to the top is a bunch of money that's there's some money there you're right you know after if if if it's a straight line if it's not on a curve after 30 days you'd be making aund and a half so the reason I asked that question Mike is I'm trying to figure out what are we pivoting to or what do we need to do but it feels like right now you're doing what I would coach anybody with a sales with your kind of experience let's go get we're not worried about the dream job here we're not looking at 15 years from now we're looking for stability and it looks like you're going to have abbility in 30 days 60 for sure I could find and and what you know I'm paying $2,700 a month in these payments with $1,260 of it going towards interest right and it just like this is terrible well that didn't bother you when you had a job right no it didn't okay right so again the debt is a problem and hopefully this is your wakeup call and you clean it up once you get your income back up but um but paying it off with 40% interest is not a good idea yeah and not NE necessary right now no it's not you don't have to it's just you just had a wakeup call went this is crazy I got to fix this well yeah I'll fix it after you get some income and if you're really stressed you're not going to like this answer Mike but if you're really stressed over that $1,200 with your smaller income right now go work some other job in Vegas I'm going tell you right now I just I've been reading articles Vegas is a hot job market sell something go get an extra job get two extra jobs and and you know start making money uh night and weekends while you're building up your your pipeline like you can take control over this and I think you're looking for the easy out and what we're telling you is while it's easy it it's going to hurt a lot and you're just you're chopping yourself off with The Shins It's just dumb it's short-term thinking don't do don't do it it's it's a bad long-term play and a totally great shortterm play but yeah I would not I wouldn't no no no no no no no no no open phones atle 88255 225 you jump in we'll talk about your life and your money can the um let's talk about the job market for a second the the job market in general has it it went through the whole great resignation and then the great regret I wish I hadn't left the good job uh you know for a few more bucks here and there and uh and then that has now settled out and we're kind of back into more of a normal Rhythm but we have almost no unemployment that's right so we're still at a place where uh the job Market's hot in the sense of opportunity what's not happening is companies aren't paying over overpaying for people and creating the musical chairs that existed so now companies are slowing down in a normal hiring process they're not panicking a lot of companies waiting to see what happens in this election year uh we are already by definition in a stagflation environment we saw in the first quarter uh the GDP uh reduced and we're seeing inflation increase so a lot of companies are sitting back and watching however of the jobs that are available uh it's still in the workers favor Dave we we're again about one and a half jobs available for every person who is uh actively saying I'm unemployed and I'm looking this is not count for millions of people are just saying I'm out and I'm not interested in working so favorable job market um but the days of skipping around like our previous caller this hour and getting 12 to 20% bump those days have cooled dramatically so now it's companies are looking for loyalty and as a worker you should be looking for stability in a company that says they've got a long-term play and an opportunity for me to grow because that that we'll never get back to what we experienced two years ago you're just not going to see that in the job market where people were just leaving and leaving and leaving and getting bumps and bumps and bumps it's not going to happen companies learned their lesson on that so uh short version still a very favorable job market let me tell you one part of the economy and this hits all of our audience if you want to make more money to get through the baby steps faster the gig economy is absolutely blowing up freelance work nights and weekends with those skills you have it's out there go get it get you some more money get you some this is the Ramsey Show [Music] [Music] n [Music] brought to you by the every dooll app start budgeting for free [Music] today live from the headquarters of ramsy solutions it's the ramsy show where we help people build wealth do work that they love and create actual amazing relationships Ken Coleman ramsy personality number one bestselling author of the book paycheck to purpose is my co-host today thank you for joining us open phones at 88255 225 thanks for jumping in we're glad you're here Michael is in New York City hey Michael welcome to the ramsy show hey Dave how are you better than I deserve what's up how's it going so I don't know if they gave you the question that I had asked yet but I'm a big fan of your show and I just wanted to see if I could take any wisdom for you and help myself kind of dig out of this little hole that I'm in okay what's up so a long story short is it started with um a house a foreclosure I was 23 years old I made a stupid decision to co-b Barrow on my parents mortgage didn't know any better at the time and four years later which was this summer I got a call the house was in foreclosure and over $200,000 in the negative and in the blink of an eye it was either get have a foreclosure on my record or assume that property and take something that was well above me in my suit to be wife's means and we're just trying to figure it out and make all payments and make the best of a bad situation in addition is some credit card fraud which I have most of that resolved but you have most of that resolved yeah I submitted fraud claims I have all the proof that they were not my cards I'm battling on one but the two larger ones are taken care of okay but the house you did actually signed it's not fraud and yeah no that now now now you have it so um what is the house worth We inherited it for 750 and it's probably worth like 700 so what's so on it 750 so you owe more on it than it's worth correct and the more we had a nice one-bedroom apartment living very comfortable I mean how in the world does a house have more owed on it than its worth in our current world well when the people who are living in it didn't pay it for four years that 10 found that all out the hard way and it added up very quickly okay um and so you're four years behind how are you catching that up they did a loan modification to where they lumped anything that wasn't paid for plus the original balance at signing so that was how it worked typically for my understanding the loan modifications are supposed to be a little bit cheaper than the original for monthly payment but due to the fact that it was so far behind it actually increased the mortgage so what is your monthly payment $6,400 and what's your household income a little over 160 okay how old are you now 29 wow and we had a nice apartment um doesn't matter it's gone I mean did you own it nope but we had ourselves very comfortable to but I mean I mean you get this is in your name and you you all that's in the all that's in the rearview mirror so yeah it is in your name that you sign the mortgage right correct okay so I guess a question I would have for you is we're making it work now we're breaking even I luckily was a hard worker in my younger time and we put away a nice emergency fund a little under $100,000 so we have that to fall back on but My worry is if something were to go wrong boiler roof if you name it and it could all go away very very quickly yeah what I'm going to do is talk to uh one of our smart or one of our Ramy trusted real estate agents in the area have them come out and look at the property and uh give you a a fair appraisal on what they think they could put on the market for you might be surprised pleasantly that you could could sell it and get out from under it if you're not let's say let's say your numbers are correct and you owe 750 and it's worth 700 today um I mean if you hang on two years you can sell it and get out of it because it will have gone up enough to cover this so it's not recommend doing any renovations to try to increase the value or save that rainy day fund depends on depends on what they're doing what it is do I want to spend $100,000 on this no but if I could spend 20,000 of myund and make this thing worth 800 absolutely and then sell it right yep no that makes sense because we want it to buy so kind of in a way we didn't have to put money down so there was pros and cons to all of this no I you don't want this house you don't want this house your wife doesn't want to live in this house this house represent every time you walk in the front door it represent stupid stuff you did when you were 23 and shouldn't have done and your parents misled you on MH and you that that comes up in my throat every time I walk in there if I'm you yep it does I have my days where it's good and then other days I don't have any good days if it's me I'm out of there as soon as I can get out of there and start my life fresh with my wife somewhere clean and screw this put it in the rear of your mirror man why not sell it now Dave what would be he can't get out of it he's got oh wait a minute you got 100 Grand what am I say he's got 100 Grand cash oh crap put the thing on the market and sell it what am I thinking about thank you Ken I was waiting what in the world I golly yeah you got 100 Grand you're 50 Grand in the hole sell it yeah as fast as you can get a get a Ramsey trusted real estate over there right now and get this thing gone everything about this thing that you have brought up in the entire time I have known you Michael has been negative there was nothing positive in this story put this in your rearview mirror and move on and when you write a check for 50,000 anytime I do something stupid and it cost me money and I have done plenty of that in my life I always put stupid tax in the four column of the check down there at the bottom where you write the check it says four put stupid tax when I was 23 I was stupid and my parents misled me and they screwed me over and I'm hurt and I'm angry and this is my stupid tax check and thank God I had $100,000 saved to be ready for MH and now it's in my rearview mirror and I'm moving on and that's me if I'm you I'm out of there God in the world am I and he can stack that cash back and he's he's financially sound outside of that he's you're making 160 you're going to be fine just get this weight out the emotional relational financial weight out from around your neck you're trying to go swimming with a concrete block shoes man get out of there be done with this yeah that's good that's good God I don't know why I can't add that so aggravating well you were you had a lot of information your processing no I mean I was sitting there going sixth grader could have done it that 100 Grand is a real nice Oasis to get out of this deal yeah but I the other thing is this what normally happens to the human brain and I'm going to accuse Michael's brain of this right now is when you're in a negative situation you tend to undervalue things so I do think when the real estate agent comes over from Ramsey trusted Ramsey solutions.com click on agent click on real estate when they come they're probably going to give him some good news on values cuz he's probably dealing with well I thought it's just and I looked it up on Zillow which is worthless and then I'm going to actually find out what the thing is worth and I'm going to go ding ding ding ding ding I'm really out of here now yeah yeah cuz I I don't have to write a check at all is maybe what he's going to find I hope so that that'd be great I might be right and I might be wrong but I'm probably right this is the Ramsey Show [Music] [Applause] [Music] [Music] [Music] [Applause] Ken Coleman Ramsey personality is my co-host today thank you for joining us America we're so glad you're here if you didn't know it's financial literacy month and one of the ways we're celebrating that is to take questions from students at high schools that are teaching our foundations in personal finance curriculum today's question comes from Chelsea in Florida I'm 16 years old my dad has been following the baby steps for several years I really look up to him for that but it can be hard sometimes when my friends have brand named clothes live in beautiful houses and go to extravagant vacations how can I appreciate what my dad is doing will our sacrifice allow us to do those things someday I I got chuckle just reading that because I could just see a 16-year-old watching all that and watching the comparison stuff fly and they're on Instagram or the Tik Tok or whatever the Snapchat whatever ever the things are that these kids are on and uh you know I get it um it's hard because you don't appreciate the sacrifice that dad's making that is uh not only going to set him and uh your mother and the whole family up but it's also modeling the way for you uh to be very very wealthy and so I'd lean in if I were you Chelsea and i' i' I'd sit down and have Dad explain the why uh of of of what they're doing and how it's actually impacting uh the family and and expenses and savings and and what the shortterm and the long-term advantages are sit down and be patient enough to let Mom and Dad explain the why and the how it's impacting them and how it's going to impact you and I think if you do that I think you're going to see some some really awesome emotion you're going to you're going to understand that it's not about sacrifice just for the sake of sacrifice and I think you're going to learn some valuable lessons and and I would understand uh sacrific through real facts and real figures and then uh I would ask you to sit back and say well what's life going to be like on the other side of these baby steps and how if I don't get into the mess that my mom and dad got into how much money could I actually have in the bank at 30 35 40 and 45 uh I I think that's the advice I'd give you on this question yeah I um will our sacrifice allow us to do those things someday you'll be gone you're 16 you're going to be gone you'll be in college you'll be out of college and married and start having kids and then your Dad and Mom are going to be able to enjoy it but I mean probably in the next two years before you're 18 is your family suddenly going to become wealthy and take you on Mediterranean Cruises I doubt it um I doubt it uh unless your dad's making a million dollar a year and he's just being a tightwad which that's different than the baby steps right but if he's just simply living like no one else so that later they can live like someone no like no one else they're cleaning up the mess they're cleaning up the de they're walking out the process it's going to be a little while yeah even let's say they were debt free today yeah they did their debt free scream today in your 16 still two years from now they're not suddenly going to become multi-millionaires that's right so I I think the the best part of the whole equation is this godliness with contentment is great great gain and so those people who have uh and Chelsea you're asking a wise mature question for someone who's 36 but for someone who's 16 you're amazing you're absolutely amazing to ask this question very mature very wise question and I I will tell you I think the most important Financial principle you can possibly learn is contentment if you can learn to sit where you are and be comfortable you can stay out of debt cuz debts trying to get you something that you think's going to make you happy and it's not going to we going to make your life okay because your life's not okay now y contentment and with that gratitude and you you know you you're an amazing young woman so I but do I think you're going to get a Louis Vuitton purse for your uh 17th birthday I doubt it I doubt it I doubt I doubt that's on the horizon so I think I'm going to start looking at the other people's lives and realizing that eh I used to look at nice cars at a stoplight and go well that's must be nice and then I found out that the nice car at the stoplight probably has $1,400 car payment so I I don't really want to trade places with that goober uh no thanks I'll pass open phones at8 825-5222 kind of interesting situation uh about three years ago I made a career change and I went into construction and mechanics and I went from 25 30,000 a year to 45 now I'm making over a hundred yay the majority of my yeah honestly the majority of my life I've been so poor that I haven't really built up any debt or credit because nobody would give me any credit cards I'm at a point where I don't know am I maxing out my 401k do I do an IRA how much do I put into savings it used to be I would buy the $3 pork chop because that's what I could afford now I have the option of the $24 re buy but if I keep on doing that then like I I just don't know what the next step is um because I've never been here I've never had financial literacy for my family um I'm not living Penny to Penny I do have couple thousand saved up um yeah how old are you it's just one of those uh 36 are you married single no kids oh good for you okay no more AG um I travel 11 months out of the year and my work pays for my lodgings and they pay for my vehicle and you make a 100 on top of that yes sir wow you ought to be Bank some money okay so here the one one thing one thing will cause you to win one thing will cause you to win start telling your money what to do before you wonder where it went it's called a budget fair enough so download the every dollar app and I will give you a one-year subscription to the ver to the premium version where it hooks to your bank okay so download the every dollar app and start telling your money what to do because you already know the a I don't need to spend at all right you just told us that and B B I do have a little margin now I don't have to eat dog food now I can eat good food yeah and honestly I've been listening since it was rice and beans and beans and rice yeah and that's what it's been so I'm wait I don't know well now you've got you you don't have any debt you don't have any personal overhead to amount anything no so you ought to be able to save like a crazy guy and you ought to be able to have some enjoyment in your budget just intentionality I just want you to sit down and say okay I got you know I got $8,000 I got $6,000 coming home every month I don't have a car payment I don't have a house payment I don't have any food issues so what what can I you know how am I going to spend $6,000 and I want you to give every one of those $6,000 a name and there's only three things you can do with money you can invest and save it you can give it and you can enjoy it and you should do all three and so how do I learn the ratio on those three because I was raised with 10% tithe which I still do good um the investing I figure I could get that with my IRA and my 401k um I'm very nervous of stocks I don't even want to play that game okay um and then it's the enjoyment part like I could afford a trip to New Zealand but do I really need to go to New Zealand sounds like it' be fun but yeah sounds like you need to you just have to save up for it so we you walk the baby steps out so we want you to get three to six months expenses right away Dave has led you to the budget once you figure out what you actually have to save every month with your minimal expenses we want you putting three to six months expenses in the bank that's baby step three now you got a really fat emergency fund after that you start investing 15% of your income and go to ramsy solutions.com and find a smartvestor pro I know you're traveling all over the place but you know maybe de Mo that's your base and sit down and and they know our strategy and uh start an investment strategy there and you're going to make up ground really fast with your low overhead James and now like Dave is saying you're giving it you're going to New Zealand All cash I mean you're really set up so the budget is the first step and then baby steps three and four are right there in front of you yeah I think you can eat a nice steak go to New Zealand invest in your 401k aggressively and be generous all three with your income and your living situation I think you're going to be able to do all three things and not do harm to any one of them mathematically this is the Ramsey Show [Music] [Music] [Music] Ken Coleman Ramsey personality is our co-host so we were telling the last guy who's making more money he's ever made in his life how do you take care of that how do you make it behave well you make it behave a budget is telling your money what to do instead of wondering where it went and the best way to do that is to use the every dollar app now the every dollar app is the world's best budgeting app and um tens of millions of people are signing up for it it is crazy how this has exploded and we thank you for that you can download the every dollar app for free in the app store or a Google play today it's very easy to do or just go to everydollar.com if you want to do it for your desktop but uh until you start telling your money what to do you're not going to win with it it's simple I don't like being on a budget well then you don't like telling yourself what to do what in the world is that that's weird so tell yourself what to do tell yourself self this is what I need to do and if self will behave then self can get what self wants it's not hard this is how the deal works all right in the lobby of ramsy Solutions on the debt free stage is Rachel from Vancouver she has a question hi Rachel how are you hi great thank you have you heard have you had Canadians on your show before oh sure they're not that rare okay awesome yeah I wanted to ask this question today it's an honor to be on your show um so all of my mom's relatives and my extended family live in poverty in the Philippines M um we care and we have empathy about their circumstances some expect help and some don't um but it's hard to discern how much to be helping them and I wanted to ask uh what would what would that look like okay how how could I help them the principle that we use uh with the Ramsey Family Foundation if we're going to help uh someone uh with money uh whether it's an individual or whether it's a u a situation we if you um are not helping them take the steps to sustainability okay then you're just throwing good money after bad yeah and so if I in other words if I sent uh one of your relatives $5,000 and it doesn't change their anything mhm it's just like that money runs out and they're right back where they were then we wasted the $5,000 and it wasn't really helpful exactly it felt warm and fuzzy at the moment but it wasn't really helpful and so um what can I do that would help them get the F get get a rung or two up the ladder as they climb out of poverty what could we do with that now that I'd get really interested in helping someone I loved okay and so for instance um uh in a couple of cases we have bought a piece of real estate uh and it wasn't in the Philippines it was somewhere else it was in the uh in the Far East but it was a a a rice Plantation and gave it to these people and now they are the owners of a farm F and a piece of real estate and the the and they're excellent at growing rice in that particular area and that's an example of okay so you put I don't know 20,000 bucks $50,000 into that now they've got something that for the next decade they can use to double triple quadruple their income yeah uh and so we gave them a tool to lift themselves out uh that because it's sustainable but if I'd just given them $50,000 cash it would or $10,000 or $20,000 cash it would have just evaporated yeah that's right so what can I do like that how can I help them start a business how can I help them uh uh get uh an educational certification of some kind go to school uh how can I help someone that that causes their income to come up and their perception of themselves and their future to to come up and stay up that's then I get all excited about doing that that's my best obligation but just to throw money over the fence and feel good it generally doesn't work yeah of course and my sister and I grew up with our mom growing broke sometimes because she was raising us as a single mom but then also trying to help her family and so she was just survival the whole time she was caught and she was caught in that cycle yeah and um and if you look back now is what I'm saying true I mean do you look back at at the money that she sent over there did it change anything no so so all of her still in the same all of her sacrifice yeah uh because it it just she was just throwing money over the fence maybe I don't know but I mean that that's how I measure it is I don't mind being generous but I don't want to be uh randomly generous I want to be intentionally generous and helpful yeah um because otherwise I'm just contributing to the problem yeah definitely which is why I like wanted to raise the question I haven't seen a video on it yet but I would have loved to discuss it with you and that sounds great what's the source of the problem uh just the economic situation that they're in I mean the whole economy it's not a I mean the average household income in the Philippines is what do you know I don't know it's fairly low though it's fairly low and yeah most of them haven't um I mean she escaped for which was great and she gave us a great life um but yeah just with what their day-to-day looks like we've compared and um I mean $20 to me is like a long way for them so yeah it's just something that I wanted to do differently than how my mom did it yeah so I I want to be helpful um not just feel obligated yeah um and so um I don't I don't I don't you know and I and I think you can be both yeah I mean I think you can do the right thing and honor honor uh the family in that regard but but not do it in a way that that um enables them I don't think we're in your mom's case I don't think it was enabling because they weren't misbehaving you know they're just in poverty that's not a misbehavior this it's just a situation and so um but but it is still the money still didn't move the needle yeah you know it it didn't fix it you know so what I want to do is fix it I want to be a solution you know with these dollars there's not enough coming in right and so today's point when you give money like that it'll it may keep them afloat for a while but it's still it eventually R still there it burns back up if I were you and you know that culture and you know you've got people on the ground I'd be figuring how people do get out what are the pathways on the ground in the Philippines to get out I would do research now I know absolutely nothing so it's kind of a fun scenario I would say okay for people to escape poverty in the Philippines what are the aboveboard paths what are they and then today's Point um based on what I could do I would try to help fund a pathway a ladder if you will to where it's s self- sustaining yeah that's the that's the idea do some research you got a good heart thank you for asking your question good question than for joining us that's a tough one too Dave absolutely Zachary is with us Zachary's in Fort Worth Texas hi Zachary how are you I'm doing great Dave how are you better than I deserve what's up yeah so I have a question about 529 accounts for my daughter's uh college fund um my question is what happens to that money if my daughter decides that college isn't right for her or something like she ends up getting a full ride are there penalties on that money if I want to pull it out and use it for something else or there other qualified expenses you know stuff like that okay if she gets scholarships you're allowed to pull out of the 529 the cash equivalent of the scholarship so if the school's $40,000 a year and she gets a free ride cuz she's valedictorian or whatever or volleyball scholarship or whatever it is I don't care uh and she gets a full ride then you can pull $40,000 out with no penalty at all whatever the equivalent of the scholarship is you can pull that out okay number two you can transfer the money to anyone in your family not just you can transfer it to if your wife wanted to go back to school do some graduate work you can use it for that if you want to take a class anybody you got other if your child daughter has other siblings you got other children uh anywhere up and down like that you can do that number three if you leave it alone for a long time I don't recommend this she can actually roll it into a Roth IRA up to about $30,000 worth um number and then the last answer is yes there'll be penalties on the growth and so if you have put in 30,000 bucks and it's grown to 100,000 then you would have penalties only on the 70,000 so you won't have penalties except on the growth and so you won't get to keep all of the growth you'll have taxes and some penalties on it if you just straight up cash it out but there but that you know so I wouldn't overfund a 529 but I wouldn't I wouldn't abandon the idea of a 529 just because of those issues I would certainly have a kids's college fund in today's world this is the Ramsey Show [Music] [Music] our scripture of the day Matthew 713 and 14 enter by the narrow gate for the gate is wide and the way is easy that leads to destruction and those who enter by it are many for the gate is narrow and the way is hard that leads to life and those who find it are few Theodore Roosevelt said in any moment of decision the best thing you can do is the right thing the worst thing you can do is nothing whoa there we go yeah when in doubt do something with Vigor right exactly yeah yeah what was the patent uh quote I used to use it all the time a uh a a mediocre plan executed with great enthusiasm is better than a plan never executed at all exactly right it's like we're talking directly to Congress right now consistently talking to Congress right now never does any good April is in Charlotte North Carolina hi April how are you hey Mr lamsy how are you dude uh having trouble hearing you darling can you speak directly into your phone hey Mr Ramsey can you hear me now nope we'll put you on hold to see if we can get a good connection that's usable open phones here at 8825 5225 you guys jump in and we'll talk with you so Ken the um the thing I have learned you know back to that Theodore Roosevelt quote in any moment of decision the best thing you can do is the right thing the worst thing you can do is nothing the the thing I figured out in decision making that in the financial world I is that people who um get paralysis of the analysis yeah never invest yeah and you're better off to just get started investing so an example of that is as we studied the did the largest study of millionaires ever done in North America 10,167 of them we found that they weren't particular they were not in the top 1% or even 5% of highquality investors mhm in other words they weren't super knowledgeable super sophisticated yeah they weren't any of those things okay instead uh the the mutual funds that they had picked out were they were average but they weren't like the best mutual funds on the planet they weren't the highest performing they hadn't studied every Nuance of the mutual fund and picked out the top fund of every category they just picked out good above average funds and put money in them yeah all the yes time consistence consist all the time no the point is do something is so much better than sitting around and having a freaking Theory it's absolutely right this also a leadership application too When leaders have tough decisions that have to be made weak leaders do nothing at all they just sit there and they stew and they look for polls or what's what's the cranky people in the office going to say if I do this as opposed to taking the best information you have at the time and making the best decision that you can is It ultimately going to be the right decision you don't know that's leadership and so this applies in so many areas it's just you've got to do something just show up and Lead so you know do something open phones at 8825 5225 April is in Charlotte let's try it again April see if you cleared up how you doing hey Mr ransy can you hear me now uh just barely you cut out half the call uh what how can we help um uh I recently had a house fire about a month ago um we're no longer able to live in the home and since then um kind of made the decision that me and my husband need to separate and so my sister had said that she would help me to put a down payment on a house um by borrowing escrow on my mom's house that she owns um with the GoFundMe that was set up and money that I've had donated and what I've been putting back I've managed to get about $8,000 in the past month um put back and so my think My My My worry is that if she borrows escrow on my mom's house and something was to happen to me she'd be in a big financial burden which I don't want to do to her and I I don't want to get myself in over my head so I have found two rental properties that I'm considering with me and my daughter one is $900 a month for a two-bedroom two B mobile home in a mobile home park on a well um the other one is $1,600 a month and it's a three-bedroom two bath home with City Water the hiccup is the one that's 900 is 40 minutes away from her school and most of my employment and the other one is two minutes away from her school and closer to my employment what do you mean I am a mobile um I make about $4,000 a month I am a mobile dog groomer um I've had my own business for 11 years um okay so I'm kind of so April you've had a lot of trauma yeah a lot a lot of things happen to you I mean if you've got a marriage that's going sideways and you had a house fire those are two very very traumatic things it's very difficult to make decisions in the middle of all that okay so I'm sorry um so you're you're hustling around trying to find a place to land and that all makes sense um the great news is in Charlotte North Carolina there's more than two properties for rent well we're not really in Charlotte that's the he has the closest city um we're in a little town called Rockell um so there's not there's not a whole lot but there's more than two there's more than two the stuff that I have there's more than two and you need to find another one cuz neither one of these work one's too expensive and the other one's weird and outside of the realm of reasonableness and you've already talked yourself out of it okay so and you definitely don't need to be buying a house in the middle of all this trauma you're going to make a really bad decision there so please go find you something to rent that's close to work and that you can afford that simple and uh maybe it's a two-bedroom apartment I instead of a three-bedroom house or a two-bedroom trailer 40 minutes away on wellwater nothing wrong with well water by the way but um I'm just thinking like I'm not having to have a water payment if I want that'd be nice that'd be nice but that's not that's not you got problems a lot bigger than a water payment kiddo so yes sir you know you can handle a water payment if you get a $1,100 property to rent which you can actually afford that's close enough to work close enough to her school okay and you're you're going to be okay then but but anytime we were just talking about decisions before we picked up with you and anytime the only options I have and you've given me three of them they're all bad options all that means is I don't have enough options yet I need more I need more things to consider buying is a bad idea with all the stuff you've been through you've had a really hard time right now is a horrible time to be buying for you please don't buy and living out of town you've already decided you already decided you weren't doing that and you were trying to justify doing the one that's too expensive and so you've already decided you weren't doing the trailer because you you I mean like so another problem that I'm having is um my husband advised me not to claim my income because most of my work is Cash um so when I'm going to rent no they're not wanting to really rent to me because I don't have employment history um it was recommended to me to get reference letters from people that I work for and people that I pay make payments to showing that I can make the payments and that I that I work do you have a do you have a business account for your business I do not okay so you're not even depositing this money you're just walking around with cash in your Pock no because he's advised me not to claim it and so I'm scared that the IRS is gonna find out that I've got money that I I can't prove where it come from this guy's a real PE yeah okay so uh yeah you need to start you need to start paying your taxes and you need to set up a bu you need to set up a business checking account and in the meantime though you can sit down with someone and go look I've got these 16 clients I do this on a cash basis I'm a landlord if someone sat down to me and said they were mo mobile dog groomer and they had 65 clients I can do the math and know you can pay the bill okay and so and and that's not scaring me as a landlord now if you got some little you know person that doesn't know that doesn't have any power in some apartment complex or something it might be harder but you can sit down and work your way through this April you got to find some more options don't justify or rationalize in the middle of all this pain in bad decisions it's a bad idea slow down you can do this you can do this and uh hey I'm sorry we picked you up a minute ago and couldn't get through this is the Ramsey Show we'll be back with you before you know it in the meantime remember there's ultimately only one way to financial peace and that's to walk daily with the Prince of Peace Christ Jesus [Applause] [Music] a [Music]
