Your Financial Destiny is Determined By YOU and ONLY YOU!

this is the ramsay show you can be intentional about your character you can have money and a career you are the hero in your story [Music] live from the headquarters of ramsay solutions broadcasting from the dollar car rental studios it's the ramsey show where debt is dumb cash is king and the paid off home mortgage has taken the place of the bmw as the status symbol of choice i'm dave ramsey your host anthony o'neill number one best-selling author and ramsey personality is my co-host today as we answer your questions about your life and your money this is a show about you and turns out you people are pretty entertaining the phone number is triple eight eight two five five two two five that's triple eight eight two five five dustin is in dunkirk maryland hi dustin welcome to the ramsay show hey dave how are you anthony how are you guys better than we deserve sir how can we help hey i'm a first newsletter so if i'm on my words of mumble just so uh let me push through um i currently um owe twenty thousand dollars on a uh my last loan and i'll be debt free carmax today offered me 26 000 i love my truck but i want to be debt-free more um my parents and my friends are like keep the truck don't worry about the debt but i want to call you guys and get your opinion wow how old are you um 37 sir what's your household income uh 117 000 okay and your only debt is 20 000 on this truck yeah yes sir and you love it and you love the truck yes but i want to be debt free oh i want you to be debt-free so i disagree with your family or whoever it is that says don't worry about the debt anthony we worry about today absolutely i i do worry about the debt but you've got a great income and you love this truck won't you reach over and knock it out in the next few months yeah absolutely because here's my fear you'll sell the truck go buy you a car for six thousand dollars and you won't be happy and and i think and you'll buy another truck in two years exactly you know so if you have the money twenty thousand dollars with 117 k grosses mean you're bringing about 85 as a single person right you can have this thing paid off yeah minimum uh every two weeks uh but i guess my thing is right now i'm i'm home in maryland so that's why i gave dunkirk but i live in new york okay but how fast how fast can you pay it off yeah um because of my line of work i cannot get a side uh a side job you don't need uh i could pay it off by the end of the year yeah yeah that's what i was thinking i mean 10 months yeah that's 2 000 bucks a month you ought to be able to do that you probably will actually do it a little bit faster because you hate that yeah yes yeah i mean you'll probably go on beans and rice a little deeper it sounds like you're single yes okay which means you don't have talking by end of this no you just go on beans and rice you can just say i now have no life until the truck is paid because i love this truck enough i'm gonna give up lifestyle for eight to ten months to be able to keep it and knock it out and next time we get ready to do something like this we'll just save up and pay for it because you're committed to no debt right yeah uh i i guess sir so so you're saying i would keep it if i since you like it yes yeah i drove my raptor this morning i like it enough to give up 10 months of lifestyle to get to keep it yeah and lifestyle destiny i'm i'm a challenge dave on two thousand i'm gonna stretch you to three thousand dollars a month you know because i think that hearing as a single person the only expensive thing you should have is your rent and so everything else bro you're eating at home you're not going out on dating yeah anthony i'm i'm cashflow in college oh oh okay that's 1840 every two months but i get reimbursed through my agency so it's i retract that there sorry dude there's an added piece of mathematics yeah okay i'm with you yeah so hey man i'm proud of you you're doing good stuff if you if you want to sell your truck you can yeah but i think within 24 months you'll be back into a truck very similar to that that you pay cash for and i wouldn't go through all that gyration to end up in the same place three years from now yeah i agree and so far i paid all 60 grand since october 2019 and i just started back my psp because it's been almost two years you started back your tsp yes sir because it's been almost two to two years and you said uh if you can't pay your debt off within two years start it back up okay two no two to three years two to three years if you're gonna do this i'd stop the tsp for eight more months but i mean it's not you're you're fine you're gonna be all right because here's the thing about you you've got two or three things that are going on one is uh you're teachable two is uh you've decided to not borrow the money anymore yeah and three is you're being very intentional and thoughtful about every move with money yes you're not um you know you're not wandering around there's not a bunch of chaos in your life you're not making this up as you go you're not being impulsive you're being very intentional intentionality i mean when we do stupid stuff all of us is when we're just not paying attention yes absolutely but when you are saying i have a goal and is this congruent with my goal no that i'm not doing it when you have that boundary in your life that's not aligned to your goal and not aligned to where i want to be when i grow up so to speak then that gives you the ability to go kill it yeah and absolutely dave and here's the thing i want people to hear dave and i are not saying yes we like car payments what we're saying is there's two things one is less than 50 of his income and he can pay it off within the next two years and so because of those two things there it's like okay you can you can keep it if you want to but if you wanted to sell it he could but he likes a car and he'll be right back there in two years yeah it's not it's not gonna be a uh if this was gonna be a seven year thing or something and this knocked off half of it yeah i would do it but it's you've got everything done and i would i would temporarily stop your tsp again i'd tighten that budget as tight as you can do it and that eight to ten month mark by the end of the year that's where i would be with this so well done sir yeah very well done hey let's talk about it though he's cash flow in college that's neat i mean i was like don't drop by that yeah don't let's not miss that one america he's not making any excuses he is being intentional he doesn't rack up any more debt he's ready to get out of debt i love that man keep that going you know there's something to that i mean it's um it sounds kind of mean and i guess it is but the amount of whining that is going on in our culture the wussification of america the amount of whining that people are making excuses yes and blaming some other outside force for their inability to get up off their assumptions and go do something correct is astronomical it's unprecedented the level of whining yeah are there real barriers you betcha absolutely you betcha yes yeah and uh you know are are there real things that are out there yeah are they keeping you from winning not nearly as much as your belief that you can't win no you know what dave i say this the greatest enemy to our success is our excuse yeah that's it it's it's not it's not the government it's not uh the things out there are there real issues out there that could prevent some moving forward absolutely but the greatest enemy to anthony o'neill's succeeding is myself and my excuses yeah cause i take one little possible excuse and i i give it the weight of a thousand pounds and it was a two pound weight right right okay so shut up yeah you know i mean that's what i have to tell my little drama queen self you know shut up stop your freaking whining roll up your sleeves get up like he's doing yeah leave the cave kill something and drag it home absolutely you know this is up to you your destiny is more in your control than it is in control of the democrats or the republicans or whatever thing you want to watch on the stupid news turn off the news shut up and go make you a life i mean that is really the formula and that's what this guy's doing and that's how i know he's going to win we call it intentionality but that's what it is he's just not going to accept anything except winning this is the ramsay show what makes our show unique is that we genuinely care about our listeners we're intentional about choosing the best advertisers to recommend blinds.com is no exception they offer high quality window treatments at unbelievable prices and they make it simple to shop blinds shades and interior shutters with easy online ordering free shipping and a guaranteed perfect fit go to blinds.com and take advantage of this week's special savings [Music] [Applause] so [Music] well it has been a stressful 12 months around the world and we've all gained a new appreciation for lots of different professions and enhanced appreciation one of them is teachers yes sir and our team is celebrating them with all the hard work and dedication that they give out every day with our teacher appreciation giveaway sponsored by mint mobile the affordable premium wireless provider i don't miss out on a chance to win some awesome cash prizes you teachers like 5 000 cash will be given to one teacher there is no purchase necessary of course and to go to if you're a teacher go to ramseysolutions.com teacher and enter today if you're not a teacher let someone that you know that is a teacher uh benefit from the chance to register for that so how many teachers can you count over the years anthony that changed the trajectory of your life i can count about five or six in k through 12. yeah and i can remember distinctly some of them that mailed it in yeah but some of them that were complete life changers ray clan denny was the one that really changed my life tremendously um then i can count about maybe three or four of them that really played a huge role but miss clintoni uh dave she literally just sat me down she said if you don't change your life i'm going to have to expel you and i said i'm going to change and she literally walked through that whole process with me what were you doing just just i was a knucklehead kid i just always talked back to teachers you had a mouth yes sir which is very good it pays me a lot of money today it turned out that your greatest weakness is your greatest dream exactly and she thanks to her she harnessed that uh that thoroughbred and uh you learned to run in the lane absolutely dave she was the one who introduced me to uh to the nfl the national forensics league which was debating oh she was like since she would love to argue she said go be a debater yeah do it do it actually in a pro in a productive way instead of just interrupting my dad gum class exactly yeah i wonder how many of our ramsey personalities were the kid that interrupted the class because i definitely was that i got in trouble for talking oh more than i did not doing homework more than i did anything else man listen talking up and speaking up and running my mouth and always having an opinion even when it was something stupid always cracking a joke yes trying to get the whole class to shut down laughing yes i mean i got into more i hadn't even thought about that dave i and looking at you i can completely believe you did that oh dave all day long i believe that makes no sense [Laughter] [Music] she was like excuse me and i'm like i'm sorry what do you got tourette's right i mean and it worked dave because you know in debating you're supposed to cut the other person off when you're arguing in their stance it was just and i fell in love with it and she literally taught me how to use my gift in the right way i wonder how many of our ramsey personalities did forensics i've never asked actually did speaking i did the speaking um stuff uh up through about freshman year by the time i got up in high school i was too cool for it but in junior high man i was way into it i loved it in high school wow that was so interesting i bet i bet ken coleman did that oh i'm sure he did it yeah that would just be no way christy wright probably did it too because she loves to argue and john deloney got in trouble for talking we do know this for sure and we don't even have to ask all the personalities there's no question this is funny i can't wait yeah so teachers change your life we've established that and we have a high school and junior high school middle school curriculum called foundations in personal finance that has taught been taught in 48 of the high schools in america we've had millions and millions of students go through it over the years and we have wonderful teachers of course that teach that curriculum so as we're honoring teachers this month we're actually pulling up some of those teachers that are life changers on the line and chris rusher is one such teacher in williamstown west virginia at williamstown high school hey chris how are you hey dave anthony how are you guys great man thank you for what you do brother so tell us about your school and about teaching personal finance in foundations and personal finance i'd be glad to we have the we're in the best school system in west virginia and wood county schools and we have the best school in wood county schools and one of the mainstays of our curriculum here in business education which is career and technical education base is doing foundations and personal finance i've been associated with it for the last six years and it is phenomenal it changes people's lives just like y'all were just talking about and it's critical it's critical that we get young people engaged in things that are actually going to matter in their lives we need to get them at this age started on the right path so that they can control their financial futures they can invest they can build wealth and give they can be ready for the future so that they can go make an impact it's just a critical thing and fortunately here at williamstown high school we're able to do this curriculum and my students uh put them up against anybody that's cool so is this a this sounded like you may have a a group of kids that are preparing for uh votec as well well you can uh cte is careertech education and there's a whole world of it you'd have you know construction agriculture auto mechanics nursing you can have all of those things combined and you can do the business curriculum in a tech center which we have here which is phenomenal as well and then at the high school where you you have a lot of kids that don't go to votec and so we have a whole business program and one of the principal foundations is personal finance wow we want kids in there in ninth or tenth grade so in either either case whether they're heading to a four-year school or heading into a vo-tech they're getting the personal finance foundation laid under them which is just amazing very cool so chris let me ask you this question what is one thing that you that you're seeing that's resonating well with your students uh where you're teaching uh this curriculum well i know we got to be brief on the program but the resonating factor the a number one thing is the reality of the condition of life and society hits them really hard when they start looking at personal finance one of the keys that we do is we don't we don't power you know sugar coat things we don't give them the mamby pamby uh jack wagon excuse train we tell them look in real life you've got to perform and if you don't perform it's you on the line you are your own business and i have four rules in my class one is to make an impact and if they're gonna make an impact in their family communities churches schools uh in the society in general you've got to be solid financially to do that you might want to donate 20 million dollars to your favorite charity but you can't if you're not making a profit come on and if you're not managing the money we also talk about deadlines and we talk about expectations in the workplace here's the reality guys and you guys know this but the reality is this unless you want to achieve the greatness of living in your folks basement for the rest of your life you've got to do something amazing and you've got to take life and take charge of it and if you start at the high school age the biggest impact is this they don't need to make the financial mistakes that i made until i got smart in my 30s and still i started listening to you know dave ramsey until we made a difference in our lives uh i'll just throw in real quick my wife and i just paid cash for our new home this summer yeah hey i want this guy teaching my grandkids i'm just saying [Laughter] no no jack wagon excuses i love it well here's the thing you guys you're gonna look you're gonna work for a company one day look one in 2016 1.8 million degrees were conferred at the college level of that almost 400 000 were business degrees the next closest was all medical fields combined at 118 000 across the us so you're going to work for a business you better know what you're doing with your money wow you need business education and the foundation is personal finance and using financial literacy and look i'll tell you what kids in the 9th 10th 11th 12th grade they can learn financial literacy and be more verse and more conversant than many many adults that i know yeah than most of their parents for sure well when they got a teacher like you and a curriculum like ours we can tag team and cause that to happen chris we're proud of you chris rusher at uh man at williamstown west virginia williamstown high school absolutely incredible been teaching our high school curriculum for years what a great teacher having a guy like that at the front of the classroom that's studly right there very fun teacher appreciation month here at ramsey check it out ramseysolutions.com teacher giveaway [Music] [Music] [Applause] in the lobby of ramsey solutions on the debt free stage david and becky are with us hey guys how are you hi good how are you good it's real easy to read your shirts we're debt-free i love it congratulations i like the i like the theme shirts very good how much have you paid off we paid off about 315 1996. wow gracious how long did this take took about 53 months 53 months and your range of income during that time we're kind of weird we went down we went from 136 to about 105. cool what do y'all do for a living i'm retired she's a housewife and uh i'm working part-time right now okay all right nice retirement income not bad very cool so i'm guessing with all these numbers that you paid off your house yes yes we did look at that weird people wow going into retirement with a paid for house in spokane washington what's the house worth uh it keeps going up fast yeah worth seven did you say last it's worth about seven yeah or so and we actually live in athel idaho idaho okay just over the line okay just over the line yeah all right very cool wow that's beautiful wonderful so tell us your story what happened 53 months ago that put you on this journey well a lot of it has to do with our daughter uh she was in the hospital we were living in l.a at the time or orange county in california and we she she was just not doing well she was in life support yeah so um so we before that happened we were looking to get out of california and move so we found idaho and we had a house that we bought out there and at that time she wasn't in the hospital now she was after we bought the house and actually she went from the hospital bed um he picked her up to the to idaho we just drove her from the hospital because they kept her there for a few months wow how old she was she was about 24. wow what happened to her seven now uh she had issues with drugs oh my gosh yeah yeah wow is she okay now oh yeah i'm doing way better now yeah oh praise god that's awesome what a great story then yeah so this crisis made you stop and look at your money is that what you're saying well we were looking at where you live and everything right yes we were on our way it's weird because we were on our way for our anniversary to go celebrate an anniversary he goes oh let's go to um canada get a hotel you know go eat out there for dinner and i'm like okay and then we went to the mailbox first we stopped there and then we um looked at a another medical bill we're like we can't go i told him we can't i go he goes well let's just go drive out there for lunch i said okay so um we drove out there and he it was well worth it because i end up seeing one of my star starry hilter this one yeah we're watching a youtube lady that kind of got us out to idaho yeah and by chance we stopped at a safe way to use the restroom and her and her husband were there wow like yeah so she got her picture taken with her yeah and i'm like well i think god worked it out that i got to see her you know yeah even though you know i was feeling like oh my gosh you know we were so much in debt huh so what happened after that though is i started in my new job and we went down to boise and on the trip there is when we heard our your radio station and we were just so in debt we had all the debt you can imagine we had two tsp loans we had car payment we were driving in a nice lexus that she loved with with the seat warmers um insurance payments we had all kinds of stuff just all the stupid stuff and halfway through we're driving around the snake river and and just listening and and we hear you do the rant the you know you can do this you can get out of this you know we're like yeah yeah we should get out of here we got to get out of where we are we're just we are sick and tired of this so we bought beans and rice that we first we got there and started eating beans and rice since then right yep yep and we stopped at a thrift store and bought like a 10 year old copy of your total money makeover there you go a good worn one good worn one experienced book we started highlighting it and uh it was game on at that point now so i have a question throughout this journey uh what was the hardest thing you all had to endure eating beans and rice every day well the hardest thing to endure was saying no learning how to say no to our to our kids to things that we were just used to doing and uh we just you know we were not no people were kind of we were uh we kind of enabled our kids in a lot of ways and we learned not to do that anymore we were just kind of growing he helped us grow through this um and of course jesus christ as well yeah and so it was just uh uh just that that would be the hardest part just learning to say no and and just you know praying uh hard and and just just budgeting the budget was wonderful you know that every dollar was just awesome and our grocery bill was how much 700 and it went down to three seven hundred dollars for two people for kids well we had three five total all right yeah that was good yeah to 300 just beans and rice and whatever i could get what and everybody survived yeah now you're going into retirement without a house payment or anything hey man how's that feel it feels wonderful yeah i'm so proud of you guys yeah i mean you really embraced the whole idea and said i'm gonna i'm gonna live like no one else so that later i can live and give like no one else which is of course the byline on your shirt right amen yeah amen oh and another thing that was really hard is he um did sell my lexus and we only had one car so we could um live like no one else ouch so now what are you gonna do now what the house is paid for get a new car and pay cash for it yeah he wants a truck and you pay cash for it and i'll eventually get a car yeah i was thinking you owe her alexis i do yeah i'm thinking i'm thinking this is coming back up if you don't handle it brother i'm just warning you here okay there's a process here there's an ebb and flow in this way to go you guys awesome well done who are your biggest cheerleaders or i guess i are thinking our pastor and his wife because he did let us lead the class oh so you've led financial peace twice oh well thank you yes that keeps you on track too doesn't it to being to be yes uh you know when you're coordinating it's hard to not do the stuff that's right yeah with our first class we were kind of doing our doing our you know doing our own thing too at that that was going on paying off debt what that was going on in the house we were force-feeding it and then we got that done and our second one we were debt-free already so it was nice yeah that's sweet yeah well done you guys well we've got a copy of rachel cruz's latest new york times best seller for you know yourself know your money you've done so well congratulations how fun look at you man it's amazing so proud of you good stuff all right david and becky from spokane washington 315 000 paid off in 53 months house and everything we're looking at weird people 136 to 105 income count it down let's hear a debt-free scream three two one we're debt-free this is how it's done you know it is so interesting that sometimes families have a family crisis like their daughter's illness and it sets them back destroys them yeah and other times they use it as a reason to go wait a minute this is our wake-up call yeah we have to change and it's the same exact situation it's more how you respond to the situation and that tells you where you're going to end up five years after it yeah yeah yeah yeah and i love that hearing their story they used something that was painful and actually turned it into something that was the fire behind them to change in their life and not just their life but their future children's and great grandchildren's lives as well yeah and that i think for me that's that's so exciting just to hear that because some people would use that as an excuse dave yeah yeah i said no we can't do it we need to focus on that and it was like hey we're going to focus on this and change yeah this is the no excuses theme hour yes sir i like it well done good stuff good stuff this is the ramsay show [Music] [Music] [Music] [Music] [Music] so [Applause] [Music] anthony o'neil ramsey personality is my co-host today he is the host of the table on youtube and as a podcast you need to check it out both ways lots of fun and very profitable discussions happen around that table be sure and check it out the table as a podcast or youtube subscribe and uh you'll be glad you did and of course number one best-selling author of the book debt free degree barbara is with us in newark delaware hi barbara welcome to the ramsay show hi dave thanks for taking my call sure what's up well i retire in may after 21 years of nursing wow and i i wanted to uh know whether i should be paying off my house with some of my 401 or whether i should keep paying it monthly so when how i know you like paid off houses how long how old are you and a half 66 and how much is in your 401k i have two we switch so i have two 92 in one of them and six um 698 in the other wow look at you a millionaire nurse [Music] just i'm terrible spending so i'm new to you terrible good at working i'm uh well i'm proud of you this is pretty incredible it's awesome way to go how much of this you obviously didn't inherit your 401k money did you have big inheritance money that made you a millionaire nothing no you just worked just hard work 21 years of nursing yeah that's impressive barbara started late after my children went to school yeah wow and yeah at 46 years old you go do this right now you're 66 20 or 45 years old so uh correct don't tell me you can't it's too late my gosh look at barbara and so uh uh what's it take to pay off your house i'm 179. i'll do it tomorrow i'll do it tomorrow absolutely okay now just take the two 292 and just yeah what about the taxes that are involved you'll have to say you have to set some taxes out there'll be a full tax rate on that yeah and so get in touch with your tax professional yeah get in touch with your tax professional so you know how much to pull out because you need to pull out enough to cover the taxes as well okay good news is the taxes won't be due until uh this time next year right okay because you're doing it in this calendar year and so when you file the taxes is when you'll have this this tax bill due on this but you don't want it to surprise you or sneak up on you or anything and so do you have any other monies other than these 401ks uh no those are my two big savings i have 6000 in my savings account and when i cash out everything here in may i'll have about 18 000 put into emergency fund good good okay well done kiddo so what's your house worth thanks when um well it's about 280 to 300 in this market okay good for you wow yeah so i'm talking to a lady that's worth a million two yep uh with a with a paid for house and um her house represents about a third of her net worth you know what you are you fit the exact template of what we found when we studied millionaires and we stayed 10 000 of them for the everyday millionaires project and you were you're just exactly in there i mean you're incredible i am so proud of you well done thank you dave so thank you honor to speak to you this is yeah dave this is really the the theme hour no excuse excuses and my single mom yeah started at around 45 46 years old we don't know what happened up to that point right but at that point you start with zero yep and you have a million dollars in your 401ks wow and an almost paid for 300 000 house where we reach over and pay it off yeah and uh net worth does not change by the way when you do that because you're reducing the debt by the exact same amount you reduce the savings and so her net worth remains the same and uh she's got plenty of money left to live on and not a payment in the freaking world and she's a millionaire nurse at 66 years old please america remember you can do this oh my gosh i don't know how i mean i've got to spoon feed some of you unbelievable what's it take to make some of you believe that'll do it man that's incredible wow absolutely incredible hey kelly keep up with her absolutely i want to i want to talk to her later uh-oh yeah that's good man that's amazing absolutely that's just because my gosh i mean wow because here's the thing when you're 45 yeah and i don't let's call it a divorce i don't know what happened maybe her husband passed away i don't know right but but um something happened yes and you're by yourself yep and you got no money and you got kids what are you gonna do yeah well you know women can't get ahead well you know single moms they don't have a chance hey and then you could believe that you can sit in the corner suck your thumb and hope that the government will take care of you at retirement or you can go be a student yes wow what a stud at that's amazing 66 years old 21 years later she's a millionaire as a nurse she's not a lawyer she didn't play in the nba and she doesn't have a rock band she just did the practical things that we teach get out of debt and vest and live below your means because her house is not even that expensive dave like you could tell she literally did our stuff when she learned about it and it works yeah bottom line and now i got people listening to me right now that are broke living in a million-two house right yeah driving two freaking cars in the driveway they're 50 000 a piece and you fleeced them and then you're scratching your head and crying because america hasn't got any opportunity no you're just stupid yeah that's the only problem anything to do with opportunities got through stupid that's it you're just walking around wearing stupid around your neck every day and then wondering why you're broke no excuses you know this is cray cray man i love that woman she's so inspiring because she represents the fact that you if you're listening to me right now you can do this yeah now dave now since she's at the retirement age she has a million dollars let's say well she has about 800 000 cash liquid in her 401k does she pull from a 401k or does she just live off the interest oh definitely living off the interest yeah i mean what's the ballpark of benches you think i mean if she's got 800 000 and it made 10 percent that'd be 80 grand right that's a b which is probably more than she was making exactly all about to say with no bills 80 grand a year that's a beautiful salary for someone else living in a 300 house 66 years old shut up wow this just drive i mean this jams me up right here wow i'm telling you guys i i um i i i understand pain yeah from having done stupid things i have been in a pile of stupid myself that i made for myself so i know exactly what it looks like i know exactly how it feels but what i will not accept from any of you is that you can't do it so good henry ford said if you think you can or you think you can't you're right yep and uh is it hard well of course it's hard yeah if it wasn't hard every little duper would do it every little wuss would do it no you got to be a stud you got to be a student to do it right got to but day listen about it i want it it's hard and i want it to be hard because later on it's going to be easier so now her retirement is easier because she was willing to put into work and work like no one else does if it's easy up front it's gonna be hard in the ending if it's hard up front you are gonna pay a price which end do you wanna pay it on there you go dave and how big a price you wanna pay by the way if you pay the price up front it's a smaller price absolutely here's the idea you retire at 65 you live 25 years on social insecurity 11 to 1 300 a month eating alpo or you can freaking do this stuff one of the two which price do you want to pay i'm you know you may not go on vacation you don't want me dave ramsey doesn't want me to have any fun oh shut up i want you to have the biggest fun ever yes and you can have the biggest fun ever when you have some money and you're not broken whiny let's go dave oh my gosh this is awesome what a neat lady she fired me up can you tell yes i think the whole hour fired us up sure that teacher man yes he jacked it up too pay cash for a home no excuse is a teacher who paid cash for him yeah love this good hour anthony o'neil ramsey personality james childs is the producer kelly daniel is our associate producer and phone screener i'm dave ramsey i cause trouble [Music] hey it's kelly associate producer for the ramsay show this episode is over but if you heard about an event product or service and didn't have a chance to write it down don't worry we list everything you've heard about during this episode in the podcast show notes section or head to the ramsay show.com thanks for listening [Music] this is the ramsay show [Music] you can be intentional about your character you can have money and a career you are the hero in your story [Music] live from the headquarters of ramsey solutions broadcasting from the dollar car rental studios it's the ramsey show where debt is dumb cash is king and the paid off home mortgage has taken the place of the bmw as the status symbol of choice i'm dave ramsey your host anthony o'neil ramsey personality number one best-selling author is my co-host today as we talk to you about your life and your money it is a free call some say the advice is worth exactly what you pay for it the phone number is triple eight eight two five five two two five that's triple eight eight two five five two two five travis is in jacksonville florida start this hour off what's up with you travis uh hey dave and anthony pleasure to speak with you guys you too how can we help um i've been listening to you for about a month now and i feel like i have a decision to make um apparently the only debt i have is on my truck i have about 20 000 on it and i've got 20 000 sitting in a cd that i moved out of my roth a couple years ago kind of a dumb decision i realized that now but i wasn't making anything at the time with the credit union that i'm at and so i have another 20 000 in my savings so i have my three to six months um emergency fund saved up in your trucks your only question is yeah so i guess my question is should it's only been in the city for two years should i go ahead and pull it out of there and just pay the truck off it's not in a it's not in a roth ira today it's just in a cd and you've already paid whatever penalty or taxes you had to pay right um it was moved from a roth ira to a roth cd oh it is a roth still yes well it's still a roth ira then it's just a cd in the roth ira is that what you're saying um yeah i guess so okay well it's it matters to give you the ant the correct answer okay if you simply cashed it out and put it into a cd and it's no longer in a roth ira then i would use the money and pay off the truck but if it is in a roth ira i'm not moving it out i'm going to move it out of that credit union with a smartvestor pro into some mutual funds in a roth and do a rollover so you need to figure out you need to figure out what it really is okay how old are you i'm 28 okay and you're single i take it i'm engaged good for you when are you getting married um we don't have a date yet but um probably within the next year good for you and what do you make i'm on track to make 84 this year okay i love it so what are you seeing i'm saying the same thing as su dave too um i'm curious of travis what do you i want to focus on what are you going to do in moving forward you know with your money um because you're going to do that there but what are you doing forward with your money as far as in uh to set you up to win long term well i've actually got an appointment this saturday to uh sit down with one of your smart investor crews nice um to get it into some mutual funds so that's what i'm doing right now um i still contribute to my roth ira and have a 401k with a six percent match so i'll put 10 in there and practice in the roth ira okay okay well i'm going to put you on the if you're going to follow our stuff and you said you just been watching us for a few weeks if you're starting to believe that what we teach you will cause you to be wealthy the quickest and easiest although there is no quick and easy but this is the shortest distance between two points if you're starting to believe that the way you would apply the baby steps to your situation would be one of two ways way way number one this cd is not a roth when you get into it and you just discover i cashed out my for my roth a while back and it's just sitting there in a cd if that's the case i use that money today and pay off the truck or after saturday you can take that paperwork into your smart vista pro they can tell you what you've got uh you pay off the truck with that money uh if it is a roth then you're gonna roll it to mutual funds in a roth with the smart vista pro and you're going to take the money the other pile of money and pay off the truck yeah and then you're going to rebuild your emergency fund with no payments and with your income okay that one's uncomfortable but that's following the baby steps exactly you'd leave a thousand dollars in the bank and you pay off your truck as soon as possible or you sell the truck one of the two but i think you keep the truck in your situation yeah it's not an unreasonable truck you can do this and you can rebuild your emergency fund in two months three months because you don't have a truck payment anymore right now you've got a 600 truck payment yeah and and make sure yeah yeah and travis this is the only debt you have correct no credit cards nothing else no student loans nope okay good for you all right that's it so way number one is if it is a roth you use your other savings account pay off the truck and you roll the roth to mutual fund roth okay with your smartvestor pro if it's not a roth then use that money and pay off your truck and that finishes you baby step three and you start putting 15 of your income away baby step four into your 401k and your roths and you can open a roth with the smart buster pro that day as well if you're doing that but if you're if it is if it is a roth you are out of money because you've used up all your money and you don't need to start any retirement plans until you get the emergency fund rebuilt yes because we got to walk back through that but it won't take you but a few months so by the time you get married you're going to be debt free and have your retirement well underway and have an emergency fund in place you're going to be in really really good shape it's beautiful yeah it's good stuff man he ate man very smart jonathan's with us jonathan's in orlando hi jonathan how are you hey i'm doing good thank you for taking my call sure how can we help my question is i'm debating if i should change the job that i have just because the income is not steady and it's not consistent and there's not much of it is a sales occupation and there's not much of it i'm so correct not enough that i see myself uh being in my older years or maybe inconsistently making a hundred thousand dollars a month is okay so it's not the inconsistencies the problem you're not making any money yeah correct and what are you selling um electronics electronics for who yeah like are you like one of those tv companies oh yeah something similar to that correct yeah yeah or cable companies yeah and what do you what are you thinking about transitioning to um that's the thing i'm not too sure i know within my employer i tried moving up the corporate ladder and yeah even though there is a small increase in pay what i've noticed is in sales management sometimes you rely on others to make your income and i think that's where as a go-getter kind of feel uncomfortable uh yeah what'd you make last year what'd you pay taxes on last year so since you're consistent last year i only made 30 000 but the year before uh kovit i was able to make 55 60. okay well i mean if you can make 55 or 60 it's a different thing but if you want to move out of this get in touch with ken coleman at kencoleman.com he can give you the guidance on your career change uh it sounds like you're changing careers that's what it sounds like to me yeah i think you've already decided that you just wanted us to say it out loud with you inconsistent income's never the problem it's the fact there's not enough income [Music] we were drawn to christian healthcare ministries because we both had young families and we wanted to have more children and we had also just started a real estate company and needed to find health care coverage that would meet our needs we were attracted to chm because of its low monthly costs and the ability to negotiate medical costs down established in 1981 and accredited by the better business bureau chm is here to meet the needs of your growing family or small business check us out at chministries.org backslash budget we absolutely believe in it [Music] anthony o'neil ramsey personality number one best-selling author of the book debt-free degree is my co-host today today's question comes from blinds.com find out for yourself why blinds.com is the number one online retailer of custom window coverings you get free samples free shipping and new promos all the time always use the magic word the promo code ramsey today's question dave comes from sarah wisconsin she says my daughter is a high school honor student student and is very ambitious she has twenty thousand dollars in mutual funds and twenty three thousand dollars in savings wow uh should we open an ira for her with the twenty three thousand dollars we already have sixteen thousand dollars set aside for college uh dave um in wisconsin uh the average um cost of college out there i saw was about in between ten and thirteen thousand dollars a year tuition alone tuition alone so that means she's gonna need about 40 000 to go off to college and that's not counting room and board exactly so my advice would be neither save all of that money for college agreed so this way you know she can get through college without racking up debt and then once she graduates college i mean with no debt gets a job then yes let's go ahead and fully fund the emergency fund and start investing it yeah so let's let's pan back just a second we have an honor student yes yes that somehow has twenty thousand dollars in mutual funds wow somehow has twenty three thousand dollars in savings yes what we have here is a kid that has amazing potential absolutely this kid's not a loser yeah this kid's going places and this kid may get some scholarships and this kid is the best possible investment of that money yes this kid if you invest it into the kid into their education into a usable degree field yeah a degree field where you get a job not left-handed puppetry yeah not some kind of stupid but you know crazy nuanced degree but something where there's actually use in the marketplace for the knowledge with this amazing young woman yeah then the money that she will make extra because of that education and because of that education being debt-free is much greater than the money she would make on that roth ira mutual fund you said it well dave so what's a better investment the kid yes because this is a kid worth investing yes into herself yeah you investing into her and to because her future is freaking bright absolutely and so just give her some guidance on going to a college you pay cash for give her some or that she gets scholarships and gets to go free too i don't care where it is where's the cheapest place to go to school within reason that you can pay for now this kid may be able to go to an expensive school and they give it to her absolutely that's possible very possible and still you're going to need another 30 000 to get through four years of just miscellaneous crap yeah books uh you know travel or you know whatever housing i don't know what it is you're going to be into something so you're going to need this money even if she gets a free ride to muckety muck school yes or she just goes to state school and pays state tuition either one yeah now you know we can add to that if you want to lower the cost of education let's start taking college equivalents in those ap classes and knock out i mean we talked to one the other day i don't remember it was you and me or ken and me but uh that the uh kid was out of school in two and a half years because they took college equivalence in high school i mean that that's golden i would hope that this smart young honor student yeah she's she's doing that because she could actually go in there go into school and talk about this in debt free degree she can go into her college experience as a rising sophomore yeah yeah and then that saves you you know right there one-fourth of it exactly of whatever it is whatever it is and you already have sixty thousand dollars for the twenty twenty three and the sixteen counts what's the worst case scenario money-wise mathematics-wise to this woman's point the worst case scenario is you don't need hardly any of this money and she gets out of school yeah four years from now three years from now with forty thousand dollars in the bank and it's made no money for four years or three years that's that's and now you invest it that's what you lose but that's what you're laughing well julie's you lost the potential income on a mutual fund for three or four years while you did the right thing and that's invest in this studly kid yeah this kid's amazing absolutely so this is the kind of stuff anthony talks about all the time on the table and he also talks about it in debt-free degree yeah you can go to college debt-free just because the stupid government which can't balance its own books suggest student loans and won't stop this epic disaster called the student loan program that is screwing up people's lives all over america just because it's normal out there to get a student loan in a world that's broke where normal sucks doesn't mean your kid has to get a student loan maybe your kid has some sense because mom and daddy grew a brain right right and had a little backbone yeah and tells the kid how things are going to be because after all it's a kid they're not grown ups yet and they're not mature enough to uh to make that decision on their own yeah a guy calls me up and he's like from michigan and says i've saved 80 000 but my what am i gonna do my kid told me they're gonna go to a more expensive school and i said well see that you ruined that whole thing back at six years old because at six years old when my kid figured out they don't tell me stuff i tell them stuff exactly so that then we get control of who's who are they freaking inmates running the asylum or not yeah that's what we're doing there oh changing subjects a few weeks ago the irs announced that it's publishing the federal tax pushing the federal tax deadline back everyone in the us is now automatically gets an extra month to file with the date moved from april 15th to may 17th and that's for federal returns folks not estimated quarterly payments and not necessarily in your state if you have stated cub tax due it'll depend on your state why did it get pushed back while the pandemic is still affecting things and when you throw in the very recent tax changes april 15th deadline was looking like a lot of trouble for a lot of people with the change to may 17th you've got an extra month to not just file but also to pay your tax bill if you're in texas oklahoma or louisiana your tax date from the irs is still june 15th because of the storms that hit you so what does all this mean well it means you have extra time most of you do to file most of your taxes but if you can file now especially if you're due for a refund you should do it immediately and that advice comes from the irs which doesn't matter we don't take advice from the irs if you need help filing either online or with a trusted tax advisor ramsay can hook you up text tax three three seven eight nine get it done text tax two three three seven eight nine andrew is in boston hey andrew welcome to the ramsey show hey thanks for having me on sure what's up so um i'm 24 years old i'm engaged and i'm about to marry somebody with 220 000 in student debt should doctor or lawyer uh no she's she's gonna be a doctor of veterinary medicine okay good okay all right yeah so i'm saving up enough money and plan to have enough cash by the time she's done with school to be able to pay off that debt in cash wow what are you doing yeah i'm a chemical engineer okay what are you making i make about 135 a year wow and when do you all get married we are getting married in two months and when does she graduate she graduates three years from now so just to give you a breakdown on the debt she has 60 from undergrad she's one year in so she has 40 from that and then each three years is accumulating another 40. so are you going to cash flow hers from this point forward that's that's my question i'm not sure because yeah i would do that i would do that before i paid on the existing debt yeah you got a good income and a good plan and a good head on your shoulders one thing about chemical engineering they taught you math right yeah now is she working while she's in college as well no she's not probably not is she no i mean it's hard for veterinarians yeah yeah eight to five it's like going to med school yeah it's hardcore yeah yeah man i i don't think you should be saving to pay off debt i think you should be cash flowing cash flow is job one any money above being able to cash flow her way out that you can throw back at the debt is job too yes so what about investing then would you not none let's get her out of school and get this cleared up before we do anything yeah she's a good investment like we were just talking about yep this is a good investment she's going to make a great income assuming she chooses well on how to use her dvm there are dvms that make more than medical doctors lots of them because they chose how they were going to operate their practice in a in a way that was uh successful with money now some dvms get caught up in you know uh going 200 000 in debt and then don't make any money because they're not careful on how they build their career [Music] [Music] anthony o'neil ramsey personality is my co-host today as we talk to you about your life and your money it's a free call at triple eight eight two five five two two five joe is in austin texas hi joe welcome to the ramsay show hello sir long time listener you i love you miss i love your ministry and i love what you and your disciples do thank you i really do i would not be where i'm at today if it was not you well i'm proud of you i know and and i mean that i uh just a quick question i'll get right to it sir um i i've been in the tsp funds now for over 20 years and um i'm in uh the cnsi the csi funds as you recommend yes sir but i'm wondering when i get ready to retire sir do i just keep it like that or do i shift the funds i i would roll it out to an ira in good mutual funds because you can find mutual funds that will outperform that mix in the tsp okay also get get with the smart investor pro and do an ira rollover into an ira and pick out some mutual funds that you want it spread into how much have you got in the tsp i'll have about six hundred thousand where you go joe yeah baby wow wow i love it how old are you right now right now on 58 58 years old he has 600 000 bucks so and uh is your house paid off uh no no it's not sir yes well i'm i'm selling my house sir and i'm uh and i'm i'm buying a new one and i got it i bought this purchase i'm purchasing this house at the perfect time i purchased it at the low end and i'm gonna be selling my house at the higher end so i'm going to be throwing 50 down that the property's going to cost me about 400 000 and i'm throwing 200 000 down on here on a 15-year mortgage yeah so you're almost a millionaire already because of you i didn't give you any money you did it well the advice you gave me and i never make any big decisions without check i listen to you every morning uh i i don't make any big decisions without trying to reach the show or research it first wow well i'm honored i'm so proud of you joe very very well done yeah so i you know you retire from the federal government uh and you have the thrift savings plan the tsp you had it invested properly in that but the c plan is the uh common stock index plan and it's pretty much like an s p 500 index and the i is the international and the s is the small company uh you can sit down with the smart investor pro and find a better mix of mutual funds that will outperform those three indexes uh not by a ton but by enough that it's worth doing and also that way you've got it under your thumb to manage it all these years in retirement because you're only 58. i mean you're going to be managing this for 30 years at least right i mean to 88 right so um you know you've got a lot of years to make this money perform make it do what it's supposed to do so uh very good job and by the way anthony that's just a reminder anytime you leave whether it's retirement or otherwise you always take your 401k with you your retirement plan with you in the form of an ira rollover and the reason is number one you've got better control yeah and you're watching it more closely number two you've got a lot more options there's eight thousand mutual funds to choose from to put your ira into and most for like 401k say dave i think it's right around like four or five options right maximum maybe 12 or something like that i think we got 10 or 12 here yeah but and we've got really good options here and you're not gonna i mean if i were to retire which i'm not ever going to i'm just going to die but um but the uh if i were to retire i would roll it to an ira and but i don't think i would get substantially better options than the 401k options i picked for my 401k plan here at ramsey i mean i picked them out right so me and the smartvestor pro you know right and we designed this plan because i'm no good mutual fund so but but so i'm not going to outperform this 401k substantially but most of the time you could yeah yeah yeah that's simple i love it phoenix is our julio is with us in phoenix i'm sorry hi julio how are you how you doing mr ramsey better than i deserve what's up in your world uh so i have a couple questions for you um i'm selling my current house and want to take the equity from this house to put down the down payment on the other house that i'm going to buy my question is how much of the equity should i put down all of it unless you have debt do you have debt uh by the time i i finished the selling version of the house i should be out of bed good yeah so do you need the money for anything other than buying a house uh i don't have any uh any money on retirement so i was wondering if it's wise to save some size for retirement and put the rest on that no i would just start i would just start putting money into your retirement 15 of your income going into retirement after you're out of debt and have your emergency fund in place here's the thing having money going into a 401k and having a paid for house are the two elements we most often find in our data points of people who become millionaires and so your highest probability chance of becoming a millionaire is paying off your house and building money in your 401k and your roth iras right so if one of the goals is paying off the house then putting as much down on the house as possible it gets you closer to having a paid for house yeah okay now let me ask you julio too one of the key things we talk about is have an emergency fund outside of your equity do you have anything sitting in a side of a savings account for emergencies no not right now that's what i was thinking maybe i should take some of the equity you probably should do that yeah yeah you should do that because i don't want you moving into a house broke yeah there you go right yeah and but no i would not use it for retirement and no i would not use it to buy a car and no i would not use it to go on vacation i would use it to get out of debt on your house as fast as possible so be on your other than the emergency fund i would throw it all at the house that's a good catch anthony yeah good job there open phones at triple eight eight two five five two two five alissa is in cincinnati hey alyssa welcome to the ramsay show thanks for having me sure how can we help um my husband and i he's sitting right here with me so we are on baby step two we have around i'm we're 25. i have i say we because we're married now we got married two months ago so congratulations thank you so we have about 30 000 in the bank the only debt that we have is my student loans i'm a nurse he's a firefighter so we have 32 000 from my student loans and then his paramedic school he just started about a month ago by the end of it it's only a year he will it's about eight thousand dollars so there's that so he used to drive a ford f-150 we sold that thanks to your plan we sold that and paid so that we had about 24 800 left on that loan and then we sold it for 27.5 so we made money off of that which was nice um and then paid for a camry and cash so we have no car payments i was driving a 2011 chevy cruze and then it crapped out on me so i had that one for six years and the engine shot so i guess our question is um we with the 30 000 that we have in the bank and keeping the debt in mind obviously like which direction should we go and how much we should pay for a car for me because i'm currently carless right now well for the first thing i'm going to say you're going to take 8 000 of that and you're going to put that towards the school so that way we're not racking up any more debt then i'm taking the rest of that and i'm going to sit there and talk about okay i'm going to buy cash cards cheap as possible and then i'll put the rest of that towards my debt if you need a car now the key thing is if you need the car if you don't need the car if you all can work you know another six months with sharing cars great i'm putting all towards the debt but eight thousand dollars of cash flow schools so we're not racking up any more debt and then i'm gonna buy a cheap very cheap affordable reliable car and then i'm putting the rest of it towards my debt two thousand dollars and then you put eight thousand with the for the school that leaves you 20 to throw with a 32 student loan you got 12 000 in student loans to pay off is your next big goal and you start working you keep working your debt snowball at that point and then when you get out of this mess you're going to move up in cars because you're both driving crappy cars [Music] so [Music] [Music] [Applause] [Applause] anthony o'neil ramsey personality is my co-host today open phones at triple eight eight two five five two two five i'm dave ramsey this is the ramsey show chad is with us in minneapolis hi chad how are you very good how are you better than i deserve praying for your city brother [Music] how can we help today looking at what do you suggest for life insurance for blended families um i have four children she has two um i'm the breadwinner uh between the two of us and right now i currently have some policies you know set up for my children she really has nothing we just bought we just bought a house um that would house all six um we have both of us have 50 50 custody of all of our children if something were to happen to all any one either one of us we would essentially lose custody of those of the others children how do you recommend sort of dividing out and planning for life insurance when when i want to help support my wife but i also want to support my current wife but i also want to support my my children and how do i come up with that formula uh 10 times to 12 times what each one of them would need per year in the event of your death okay so let's run some numbers let's just play with some play a game here okay so let's just start with your current wife has three children from her former marriage that would still be with her were you to pass away let's start with you okay what would she need from you to make sure your wife is taken care of upon your death per year in income do you have any assets do you have a bunch of debt what kind of situation are we in financially me neither will neither one of us have any debt um we have we have equity in our homes um you know i i make i make 120 she makes 40. um the the house that we have is way way bigger than like if something happened to me it's it's there's no reason that she would need a six-bedroom house for her and her two and and her two daughters yeah um so she would like some kind of right you don't have to do it right now but here the answer to the question is run the scenario out and let's just let's just throw out a number okay let's say that you wanted to make sure in addition to her 40 that she had another 60 000 a year coming in okay so 10 to 12 times that for her on you okay and so uh you know that sounds a lot like 750 000 bucks i'm making these numbers up it might not be that but i'm teaching you how to do the formula okay then on your kids they're going to your ex-wife but you want to make sure that they're okay and you would cover the equivalent of child support plus some probably plus college and cars right and so uh three kids through college three kids you said there's three right i've got four four okay how old are they uh 13 to four okay and you want to support them not your ex but them right to make sure they have that she has the money to raise them and that they've got the money to go to college is probably another half million dollars okay and that would give them like three or four thousand dollars a month plus have a pile of money there when they get ready to go to school and that money is the the beneficiary on that money is a family trust that you put directions in the trust it's formed upon your death the life insurance beneficiary is the children's trust and the trustee will conduct the money the way you want them to conduct it and so in my old trust when our kids were minors it said it would be invested in the four types of mutual funds i teach growth growth and income aggressive growth and international and then the trustee is to disperse three thousand dollars a month to or whatever number of dollars a month to the mother for care and feeding of kids uh and if there's any major medical the trustee can disperse for that they can disperse for their first car up to x and they can disperse for college and whatever is left after college is handed to the kiddo right ex-wife has no money access trustee of the trust is not kin to ex-wife correct and that's like your brother or whatever that kind of a thing or something like that may well probably wouldn't be your current wife because she probably doesn't want to deal with all this later but um that's probably that'd probably get real messy and toxic but um but anyway someone you trust that's why we call them a trustee and you put all this in your will and so i'm gonna guess and say you know you're making a hundred thousand and some change you're probably gonna need a little over a million dollars but that's about what it would have been in a traditional setting we're just divvying it up as a matter of fact you could do one policy for one million two and current wife gets seven kids trust gets 500 in the beneficiary you can have one policy and split beneficiary and it's cheaper it's cheaper to buy one policy but and again i'm making those numbers up i'm not suggesting a million two but it's probably going to land something about like what we just talked out unless you want to raise it or lower what you're giving them monthly and uh and what you're taking care of if your ex-wife is a multi-millionaire you may not be that concerned with this right yes she makes more money than that more money than i do so i'm not i'm i'm not too worried about the kids day-to-day life yeah it's just making sure that there's something you know in the event that something happened to me like my my inheritance coming to me would would would would get divvied out to my children through that trust um so that they'd get it when when they're sacrificed so exactly you can use the trust for the assets as well as the beneficiary position in the life insurance so you're and you're controlling all of it and the ex isn't going to control it but and you know i don't know what kind of basic what kind of speaking terms you are uh with your ex but i would go ahead and tell her exactly what this is going to look like i didn't ask her i'm going to tell her right right yeah this is what's going on i read the will while i'm still alive yeah and that that way everybody can go ahead and be pissed off if they want to be pissed off now right we'll get this out of the way and there's no well david dave really meant no dave's going to tell you what he meant we're going to go and do that now and that that just gets rid of the movie scene from the bad movie with the you know this crazy step children or whatever all this stuff in these movie scenes on the wheel and so you get a will and you get life insurance and that's a great guy preparing for his wife and his children absolutely dave let me ask you another question i'm seeing that a lot of families now well not a lot i've had quite a few people ask me hey how much life insurance should i take out on my 100 healthy child none that's what i was thinking i just want to make sure i'm saying the right thing america no thank you well i mean the only exception would be if you're completely broken you have no emergency fund you can get a child writer on your current policy that's about 10 or 15 000 for like 50 bucks a year okay it's an attachment to your existing policy yeah and what that would cover would be burying your kid if something happened to them god forbid right right uh because you don't have the money for a burial yeah but if you've got 25 000 in your emergency fund and you're debt-free uh you would god help you yeah pay that out of your own pocket right um and through your tears obviously what a horrible thing to experience but but um children are not creating an income that has to be replaced now if your child is doing diaper commercials and making a hundred thousand dollars a year we might talk about it but otherwise they ain't working right and so they don't we don't need to replace their income uh and 99 of child life insurance is crap whole life investment investing for college stuff and it's trash i agree just wanted to make sure i asked a question america yeah so yeah here's the thing anytime something sounds kind of weird to you it's weird it means it's a rip-off so let me give you an example of that gerber makes baby food don't buy life insurance from gerber that just sounds stupid when you say it out loud and they sell whole life life insurance wait what they do you can buy a gerber life insurance policy on your little baby and get screwed i mean they just will rip you off it's unbelievable so if you're if your life insurance came from a baby food company you might have got screwed really i mean how hard is this to figure out wow there you go wow just a thought from old dave today here we go that puts the sour of the ramsey show in the books [Music] this is james childs producer of the ramsay show did you know the ramsay show is one of the most popular podcasts in the world subscribe or follow today wherever you listen to podcasts [Music] this is the ramsay show [Music] you can be intentional about your character you can have money and a career you are the hero in your story [Music] live from the headquarters of ramsey solutions broadcasting from the dollar car rental studios it's the ramsey show where debt is dumb cash is king and the paid off home mortgage has taken the place of the bmw as the status symbol of choice i'm dave ramsey your host anthony o'neil ramsey personality number one best-selling author and host of the table a very popular podcast and youtube show you can join him there anytime and you can join him today here on the air with me open phones at triple eight eight two five five two two five that's triple eight eight two five five two two five zack is with us in new york city to start off this hour hey zach how are you hey dave how are you better than i deserve what's up so i'm currently a college student and i have a real passion for cars and i've been doing a lot of research into a business that involves cars it's an app called turo i don't know if you're familiar it's like this peer-to-peer car rental service like airbnb for cars and so i've been i've been thinking a lot about uh getting a car that i can put up on this app and manage it you know best case i'll be making money on it or you know even if it doesn't do so well um at least i'll come out of college with a car paid off or a very worst case if it's just a total flop i can i can sell it for a little bit of a loss but if it lets me do something with cars i make money off of it i'm trying to see what you think about that if that's you know something risky that's worth taking um and just to see your thoughts on that so you're currently in college right now is that yes how are you paying for college so my parents are paying most of it i do have a little bit of student loans okay and will you be taking on more student loans to complete um it's five thousand dollars in loans per year yeah no uh then right now uh you're not buying a car man i want you to cash flow the rest of your college experience um i'm like you i love cars too man and it sounds great the idea sounds great but it sounds great once you have the cash to actually cash flow that experience i don't want you putting money into a car and you're steady borrowing money over here to complete your education um so i'm going to say no sounds horrible to you but when i'm i'm also going to tell you i promise you down the road if you listen to dave and i by saying invest into yourself cashflow the rest of your college experience get your savings up then once you build a solid foundation then if you want to explore that in the next two years after you graduate college by all means go try it out but the key thing in there is pay cash for the car you know that's going to be the bottom line so when i was your age when i was your age i was as entrepreneurial as you are you've got a a real passion for looking around making money you not only like cars you like to work a deal yeah and you like to make the the whole process of the system intrigues you i can hear it and it intrigues me i'm with you i i completely understand that and uh one of the things i looked at doing when i was in school and i didn't end up i wasn't able to do it because i guess god protected me was i was going to finance a whole bunch of these machines at the market that put air in your car tire and you put a quarter or whatever in there and it turns on the air compressor and puts air in your tire and i was gonna borrow like ten thousand dollars and put these machines everywhere and of course that was gonna make me rich um it it would have not done that at all it would have caused me to take my eye off the ball i would not have graduated from school because i would have been screwing around with freaking air yeah literally and so looking back on it when i look back on it it really looks silly but when i when i had the entrepreneurial froth when i was when i had the fever and my i was running a fever uh and i thought this was gonna be my my way to wealth i i was all about air machines you know and i look back on it's almost humorous now but uh but but uh you know and that you know honestly what you're talking about doesn't sound that dumb as dumb as my idea was uh but when you look back on it it may feel dumb yeah and as opposed to as opposed to what anthony's saying use your money on zach yeah zach is a better deal than a trendy app to airbnb your car that you don't even own yet absolutely and put money in zach yeah uh and you'll have plenty of chances to make mistakes with your entrepreneurial zeal later [Laughter] i've made a living making mistakes i've made more mistakes than i have done smart things many many more but i've tried to do them in such a way that they did not cause me to take my eye off the ball and they did not cause they were not fatal errors when i failed at them yeah and so there's too many things wrong with this story you're going to go into debt you're going to go further into that for school which you shouldn't be doing you ought to be working your way around that you're going to take your eye off the ball you're going to be worried about this instead of your studies you're going to be screwing around with this stupid app and you know it's just there's just it's just it's you know entrepreneurs zach we all are a little bit add yeah squirrel you know i mean there's always something getting our attention and that's what's happening to you here and it's easy for us to sit over here on the outside looking in and see that but you're in the middle of it you got the fever so please don't do it that's the answer to your question and and it's a headache possibly waiting to dave and i really want zach to hear me one of my friends does that and he says anthony man i just one of my cars got into a car accident and the last thing i want you to be worried about is school now this business and then now an accident yeah and it's in your name yes you know and i'm not sure what insurance is insurance has to go up because it's peer-to-peer so it's like yeah well or it doesn't cover it at all you know i mean there's some uh companies that won't cover delivering pizza yeah you know they won't because that's commercial activity as far as they're concerned you wreck your car while you're delivering pizza they won't cover you and so you need to you need to look at all that and and that's or don't look at all of it because you're not doing it right that's a better idea open phones a triple eight eight two five two you jump in we'll talk about your life and your money uh juan asks on facebook where do student loans fit into your seven baby steps student loans as far as i'm paying them all fits in at baby step number two all right it doesn't matter where they are baby step number two paying off all your debt using the debt snow ball just line them up if you have a credit card that's 500 and if you have a car that's 10 000 your student loans are 20 000 it's gonna be third in line you know and so it falls into baby step number two there's a an emotional temptation when the student loans especially when they're large to try to treat them in a later baby step like they're a mortgage yeah but that is a mistake huge mistake you need to get rid of them yeah if it's a mountain you need to tear that mountain down and a lot of people right now dave are waiting for the government to see what you know our new president and congress is going to do since you don't have to make any payments since you don't have any interest securing on it right now i'm just going to let it sit there and just wait for the government and i and i will personally say this is my personal uh opinion that is a huge mistake if you have the money if you have the resources attack all of your debt right now especially if your student loans are your only debt take advantage of this time of making payments without any interest rocking up on you and if the government does do something down the road great if they don't you're still moving forward yeah hey listen when you say the words out loud i'm waiting on the government to fix my life by definition you have signed away your life pretty much you pretty much have signed up for loserville yeah the government is going to fix your life come on let's all laugh right now are we ready one two three this is the ramsey show [Applause] [Music] hey folks i got a great option to help you pay for your education the army national guard the army national guard believes you are the next greatest generation because you have proven that even in adversity that you have what it takes to succeed that's why they offer benefits like tuition assistance career training and a paycheck to help you avoid debt no matter what your goals are the army national guard can help you get there visit nationalguard.com to find out more [Music] anthony o'neil ramsey personality is my co-host today our famous 10 sale is back you can get the tools and resources you need to make real progress with your money and your life offer just 10 bucks each that means saving up to 60 on over 40 best-selling books like the total money makeover anthony's book debt-free degree both number one best sellers the proximity principle number one bestseller by ken coleman of course rachel's books christy's books all the books in here ten dollars each at the ramsey solutions store go to com ramseysolutions.com store and there's more we got a gift for you you can also enter to win our ramsey cash giveaway we're giving away five hundred dollars cash every week no purchase necessary and a grand prize of five thousand dollars cash be sure to go to ramseysolutions.com to be sure you sign up every day for that enter daily for chances to win no purchase is necessary you got to be 18 or older to win text cash to 33 789 33 789 open phones at triple eight eight two five five two two five max is in boise idaho hi max how are you hey dave i'm doing good hi anthony hey we're excited to talk to you guys today you too what's up well i'm just hoping i could get some advice or counsel from both of you guys regarding uh a situation and a vacation home that we have um whether or not we should keep it uh maybe downsize the prime home in order to own nothing on either home or just sell the vacation home until a later time when we have enough money to buy another one how much is owed on each so the vacation home we own nothing on the primary resi and it's about 500 000. the primary residence we owe just under 150 on it's worth about 650 probably and the reason we owe the 150 on the primary is because we took out an equity loan to finish building the vacation home i didn't have enough to pay for the whole thing i have refinanced that into a 12-year mort but that's where that loan came from what's your household is the only debt we have um i make or we make approximately a hundred thousand um i do normally make more than that but that is based on overtime so i can count on for sure a hundred thousand um last year i made 140 but that's not guaranteed what other assets do you have um besides the two homes i mean nothing big you know we have our vehicles we have a boat uh but that well and we have pretty we have pretty good retirement assets uh but those are all in like 401k 457 roth how much digital roth accounts uh we have between all of those about 800 000 um but in just our cash like our emergency fund we have fifteen to twenty thousand how old are you cash uh i am 48 my wife is 47. okay my first choice is just pay off the 150 000 in like the next three years and keep everything because i think i hear you like this vacation home a lot and that's where the boat is i'm pretty sure too right well it goes there uh it gets it's it's the winter is pretty long there and so i don't leave it over the winter but gotcha um yeah i feel like my hesitancy is just the the um small amount of liquid cash that we have so in the event that my life breaks down or something like that i run a very detailed budget and i just don't feel like there's money in that budget to you know pay for a new car if i had to or things like that and i if we didn't have a vacation home we could go to that town whenever we wanted and just do an airbnb or something but then it would free up so much cash that well let me just tell you a lot i own a couple of uh vacation homes and they do not make sense yeah you can always go and rent a hundred times yeah before you could buy uh 200 times in a lot of cases before you could buy i mean i rented a house for our whole family in the mountains in the rockies it was thirteen thousand dollars for the week but it's a six million dollar house and uh how many times can i do that for thirteen thousand versus six million i didn't buy that house by the way but um i rented it but uh uh you know you just do that math you can rent that house for the rest of your life and and two more lifetimes before you can afford to pay for it they don't make sense vacation homes are toys yes and if the toy the cost of the toy is pinching you you have too expensive a toy and i think that's the conclusion you're coming to that the vacation home sells to give you the liquid cash in a paid for house again i would agree would it make sense at all to downsize our current home no um no okay not for a toy yeah okay yeah you're gonna lower you're gonna lower your quality of life day to day for a property you spend three to six weeks a year in yeah right yep okay that does not make sense it's just a it's it's a toy now i'm okay if you guys want to roll up your sleeves and knock this thing out with a ridiculous amount of overtime or something in the next three years or so i'm not okay with you dragging along for 10 years with this crap yeah because you shouldn't have done it yeah you couldn't afford it yep yep i totally agree and that's the pinch you came on because you pay cash for toys or you don't buy them and you didn't pay cash for this you over built by a hundred and fifty thousand dollars and uh if you had that thing sitting there paid for you wouldn't have ever thought about calling me and you would never thought about selling your personal home none of this would have come up but the fact that you guys over built it is what got you and so uh you know but here's the thing either way is okay you're there today i wouldn't have done it but you're there today am i necessarily going to go oh you're stupid if you don't sell it no you're not if you want to fight to keep it and you guys live on beans and rice and you take that budget of yours apart and you put it back to a gazelle intensity mindset where we're paying off this stinking house so we can keep because we love this house um i would fight to keep my lake house i love my lake house yeah and i would fight to keep it i mean i would do you know i would sacrifice like crazy if i had backed into it wrong in order to fix the mess and that's what you'd be doing here i got you back but you know you're you're holding this thing with a pretty open hand which makes me think you don't really want to fight that hard to keep it i think you're probably going to sell it and buy something later and there's nothing wrong with that that's exactly right yeah nothing wrong with it nothing wrong with that at all that's a half a million dollars back in your pocket and i still wouldn't have a whole lot of money though sitting in my checking account i'm still going no i know what i'm saying i mean you can invest it in mutual funds where you can get to it right but it's not if you want to put a couple hundred thousand of that money in a mutual fund that's fine pay off your house yeah um and uh sit there and then keep piling some money up and later on buy another home up there absolutely you can do that it won't be the one you built or build another one up there i don't care pay cash though for second homes and toys but that just makes me think though if you're gonna build another one in two years from now then it's not gonna be two years oh okay no if they're gonna do it two years they could have paid it off in two years right right so the math won't do that it's gonna be ten ten yeah so i i'm okay you guys sit down talk about here's here's the thing you've been fretting about it and what you do need to do max is make a decision and let the worry go and go okay regardless of how we got here regardless of whatever regrets we have about this we're gonna buckle down and pay this thing off in the next three years or 40 40 months or whatever it is when you run the math out yeah but you're gonna do it in short order or it's not worth it to do that and i'm not gonna sit here and wring my hands about a car breaking down during that 40 months and so i'm selling it and then let it go yep let it go but this back and forth sitting on the fence not having to make the decision is more stressful than making a painful decision pretty much make the call and run it out this is the ramsay show [Applause] [Music] [Applause] [Music] [Music] [Applause] [Music] [Applause] [Music] [Music] family [Music] in the lobby of ramsey solutions on the debt free stage john and his daughter heather are with us hey guys how are you hey dave hey anthony thanks for having us today welcome we are welcome honored to have you where do you live we live in east hartford connecticut oh beautiful town very nice well good to have you brother thanks for coming all the way down here to do your debt-free scream how much have you paid off we've paid off 33 000 in 19 months good for you and your range of income during that time 88 000 during that time i was uh salary frozen so i kind of had to become the side hustle king okay that works cool what do you do for a living i'm a teacher oh good for you what do you teach i teach computer science and english at buckley high school in hartford connecticut go bulldogs i love it wonderful very cool so what kind of debt was your 33 thousand dollars three personal loans two credit cards and a car that i financed used you are normal [Applause] so what happened that woke you up 19 months ago um it was wake up time i i was shaving one morning and i kind of it was one of those like newton and the apple falling on your head kind of moments that you're having and it was a new year's morning but what was really happening is i was taking a look at my life i'm like 51 years old and um i grew up in a house with a lot of love my parents god rest their souls were depression-era babies lots of love not so much with the money and so when i became an adult i made all the same mistakes and then of course went into making my own mistakes on steroids including and i wrote some of them down obviously the massive credit card debt piece then i impulse bought a half million dollar house that i financed at 110 so that i could buy two cars i didn't need and put renovations on the house that it didn't need either um which now loads me in ungodly quantities of debt um very soon the market crashed i lost the house very soon after that the marriage fell apart um so i thought it would be a good idea to finance my divorce with a 403 b loan um and so uh i eventually landed in chapter seven and so i'm now doing the chapter seven thing got out of the chapter seven um this is now in my 40s and uh get that cleared up plus of course you know you can't cancel out the 403b loan so i have to get that paid back got that cleared up and started getting back into the exact same habits so um now fast forward to that morning that new year's morning and you think about you know nears what's it going to represent she's in middle school i got no future a big pile of debt i'm a dad i got one job and my one job is to take care of her and i'm not getting it done and so i said okay gotta make a change so i'm a teacher teachers are nerds um by nature so i read every book out there um and i'm gonna be totally truthful with you dave i refuse to read dave ramsey i refused to do it because when i was married my wife at the time said gee you know honey maybe we should do the dave ramsey program and i utterly refused fast forward to the divorce and so we never read it for like three months finally after about three four months of reading every book under the sun including people who thought that it was a good idea to borrow money to get rich i went ahead and got total money makeover read it in one night joined fbu the next week wow and it turned on a dime i've actually coordinated two fpu classes since then so thank you oh thank you that's amazing actually can i give a shout out to my fpu people sure um i just my my principal at the school allowed me to run an fpu class for the faculty wow and which was unbelievable in a public school setting and she uh she said please run it three of the staff members signed up and these three women in nine weeks paid off ten thousand five hundred dollars in nine weeks wow that's awesome best part of the journey very cool very cool now on this journey uh i'm curious what was the hardest thing for for you on this whole journey saying no to her because i mean she's my why and and so and you're the one who anthony you always say your wife's got to make you cry and you did right and so but it was saying no to no we can't go out for tacos every week like we used to when we can't do all the fun trips that we used to do and saying no to vacations and saying no to you know to to my girlfriend saying hey you know we can't do this and that or i can't you can do it but i can't and you know all those things that i had to do to make sure that she would be taken care of yeah now but but it was worth it i would do it again tomorrow cool cool how old how old are you heather i'm uh i'm 15 15. so you watched your dad go through this divorce this bankruptcy and then took control of his life and changed his life very proud of him you ought to be yeah you ought to be that's a nice a good word and that's a word he lived to hear right there for sure very well done yeah so uh what lessons do you take away from this whole thing um i i'm definitely gonna follow in his footsteps when i'm older that's good and uh i've learned that you can always you know take control of your life yeah yeah so let me give you let me give a quick lesson um to a young lady i'm jumping ahead of the game your dad can break this down later on let me give you now listen uh date a man who's who's better than your father down the road whenever that whenever he approves that so no debt you know and man who knows how to take control of his life that should be one of your great lessons that you should have down the younger version of her father yes not the current absolutely dead current version [Laughter] very good cool well i'm proud of you guys well done very very well done john so you've done fpu classes you've been through the ringer you've you've seen the top you've seen the bottom what do you tell people the secret to getting out of debt is make the decision today to do the right thing today then get up tomorrow and do it again um work the plan because the plan works on you i was thinking about a frederick douglass quote that i love that upon which a man works works upon him and this plan really did change that so so of all those things that's it the other one is is celebrate the wins because there's a lot of a lot of time that you're putting together this like train wreck of your life and and you want to say oh yeah i've got this you know we got this thing done we knocked off this credit card you also want to occasionally remember that you were the engineer on that train so you know don't repeat the mistakes but then keep celebrating it you know heather and i have had charts and she colored in the debt-free land on our fridge and we just you know keep celebrating it every day and coordinate fpu don't wait till the end to be generous because that's the most fun you're ever going to have with money well it holds you completely accountable too it does yeah very very well done i'm curious what's next i mean you're debt-free your daughter watched this journey uh well what do you do next well right now we're working our way through baby step three okay um and 3b i want to get into something a little more stable i'm renting right now um so it's 3b um fortunately through some circumstances in her life she's all set she's okay for college so we're going to do debt free degree but i'm still going to ask you to sign our book if you don't mind and so we're going to do that and then getting ready for uh getting ready for uh baby steps four five and six and taking care of the legacy love it well done well done good job john amazing yeah absolutely incredible i'm so proud of you very well done and we've got a copy of rachel's book for you of course know yourself know your money so you'll leave here with a whole bunch of autographed books as a part of this trip and we're honored to uh to celebrate with you and with heather uh what a cool thing you talk about changing your family tree that's it that's how you do it right there i'm looking at it more is caught than taught so uh 33 000 paid off in 19 months making 88 john from hartford connecticut count it down let's hear a debt-free scream three two one we're debt-free [Applause] life is good you know what dave if if your why doesn't make you cry like john's then you don't you need a deeper why well seeing him hug his daughter seeing her hug her father and so she's proud of him and to hear that that will make any father cry [Music] daddy i'm proud of you that's the uh that's about the best words out there and um the interesting byproduct of this is is that uh her brain is completely reformed absolutely there's no no possibility of her having her doing a normal life and going out there and creating a mess after having walked through this and witnessed it firsthand like this there's too much too much going on too much water on the bridge she's changed too i mean this is how you change your family tree right here you go first you go first baby you go first this is the ramsey show [Music] [Music] [Music] our scripture today john 15 and 7 if you abide in me and my words abide in you ask whatever you wish and it will be done for you milton berle says if opportunity doesn't knock build a door there we go that's it drew says uh in atlanta hi drew welcome to the ramsey show hey dave how's it going better than i deserve how can we help so basically i was just wondering what the best way to allocate my current income is in terms of investing you know i'm investing in a 401k um building up my checking account amount but i also have 550 000 in a brokerage account um as a result of um some good investing from uh and inheritance over the last about 14 years so i just want to know if i'm doing the right things putting my money towards the best investment possibilities right now okay so you inherited 550 000 i inherited about 280 um back in 2007. so it's just built up and you've had it invested in what mutual funds and stocks about 75 mutual funds and for 75 and then to rest in stocks okay and how old are you 24. okay good um well i don't play single stocks there's too much risk for me uh and i buy two things for investing um and i don't i don't recommend people do things that i don't do that would be hypocritical and so i buy real estate that i pay cash for as an as an investment in other words income producing real estate and i buy mutual funds uh single stocks more than 10 percent of your portfolio in single stocks is too much risk for me because i don't like losing money and the numbers on singles playing single stocks are not that good but for the individual so um if i woke up in your shoes i would move that money into good mutual funds with a good smart investor pro and i wouldn't use a brokerage account and i think you'll end up doing better in the long haul it'll be a lot more boring but boring is good as far as i'm concerned uh exciting means there's a chance i'm about to lose some money and i don't like exciting so so um you know that's what i would do with that money and then uh you know what do you make a year 60 000. okay and what i would do is just go about living my life as if that money isn't there and it sounds like that's what you've done so far absolutely yes yeah and um uh are you married do you own a home or anything like that no none of that okay well i would make sure you had no debt and that you're putting 15 of your income away for retirement and that you're growing your career and that you're living intentionally on a budget uh now i would use some of that 550 out of those mutual funds to pay cash for my first house when you're married and get ready to do that or when you just decide you're going to buy a house and there's no rush in that you're 24 if you didn't buy a house for two or three more years it wouldn't be that big a deal yeah uh and so you know let that money grow and sit there and you're paying cash for everything if you can learn to live as if that money's not there except for the fact you pay cash for a house later um that's going to cause you that that's going to take this pile of money and make it tens of millions yeah because you got 40 plus years for this money to parlay and um if you're invested in good mutual funds and making uh you know 10 or so that money's gonna double about every seven years yeah and so seven years from today when you are uh 31 years old you'd have a million one seven years later yeah when you're 38 you would have two million two seven years later when you're 45 you'd have four million four good crisis and that's if you don't mess with this and it just sits there in decent mutual funds and grows at a decent rate this is um and so again you pull some of that out you buy a house with it then you take what was going to be a house payment and invest that you'll end up in exactly the same place you just you just used your own money and now you're putting your money back in the form of a payment uh and so and as your career goes on so this money literally you should be worth over 10 million dollars when you hit retirement as a result of this so very very nice gift as an inheritance and you will be one of those millionaires that are a millionaire because of an inheritance which by the way is a very unusual thing statistically and a wonderful gift from uh whoever did a great job with money in the last generation that left it to you uh pretty cool situation man i i'm sitting here just going over the numbers in in my head dave like drew if he does the right thing today the caliber of his future is so bright if he just sits there at like the money is not there and he's continuing to put money into it he's just adding fuel to a positive fire for his future and guess what there's a high probability he's going to do that yeah and there's two indicators of that one is he was probably raised or influenced by whoever did this the first time and left him the money yep and two we know that because he's had this money yeah for a while and has doubled it already and three he called in and asked us and asked us yeah he was the right way he didn't go buy a lamborghini yep yep and which i'm i gotta say i'm surprised you know for 20 something sitting around i'm not surprised because he was raised by the people that did that and so uh you know so the rule is for your parents then uh your grandparents then and i'm talking to myself as well legacy journey book is more caught than taught your main inheritance is knowledge and character and if you leave them money without knowledge and or character you will raise a kid in a reality show but if you leave them character and knowledge uh without money they will get money yup but if you leave them character knowledge and money now you've changed your family tree yes sir and that's what's happened with drew don't you just sense he's mature beyond his years absolutely that's what i'm like man if i'm just excited for his future yeah i think this is brilliant lila is in san francisco hi lila welcome to the dave ramsey show hi how are you guys great how can we help so i need guidance um i have parent plus loan for my children they're already graduated one's out on his own one is almost on out on their own i don't want them to participate right now and paying back the student loans because i want them to establish themselves i make 160 i have a home i owe 45 i have a car 14 000 and this student loan of 2016. 160. oh good okay and you're single i'll take it no yes okay so i need go ahead oh so i need guidance i'm thinking one yet the government has no interest right now and two do i refi uh for a lower rate like with so five um so i can start paying this off don't do anything with so far so far is a dangerous operation you want to stay completely away from them but uh but you could look at refinancing it and um that'd be okay uh and uh kelly helped me with our uh uh yeah our company our company that we do that with student loan refunds splash splash financial i'm sorry my brain just locked up i should know this what is it financial but here's the thing lyla you're not going to get out refinancing refinancing is only going to help you uh one percent of the problem 99 of the problem is you're going to have to live on nothing in beans and rice and clean this mess up a scorched earth no life yes and clean this mess up so how much parent plus loans is there again it's 260. 260 000 for once for two for two not a good decision uh they're first generation that would be less than an understatement oh my gosh yes yes i'm so sorry okay well let's do it anyway and 14 000 on the car so we're going to list our debts smallest to largest yes refinancing this is going to be important because of the mammoth amount it is yeah and getting the cheapest possible rate but kiddo i mean you're like living on 60 000 bucks throwing 100 at this and it's gonna take you four years oh great but i mean you're living on nothing you understand i just i just took your life and i didn't take it away yeah you took it away when you made this decision but i just took your life away to get this mess cleaned up i was the further you sacrifice the faster you get out yeah splash financial looked them up i just looked them up their rates are pretty low wow that puts this hour of the dave ramsey show in the books we'll be back with you before you know it in the meantime remember there's ultimately only one way to financial peace and that's to walk daily with the prince of peace christ jesus [Music] have a friend or family member that needs a daily dose of ramsay advice in their life let them know about the ramsey call of the day podcast it's a quick hit of advice about life and money in under 10 minutes check out the ramsey call of the day podcast 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Channel: The Ramsey Show - Full Episodes

Views: 33,144

Rating: 4.8714857 out of 5

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

Id: j3SxjFhoprk

Length: 121min 15sec (7275 seconds)

Published: Wed Apr 14 2021