Your Life and Your Money MATTERS!

[Music] welcome to the dave ramsey 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 studio this is the dave ramsey show where america hangs out to have a conversation about your life and your money my name is anthony o'neill co-hosting with me today is the one and only doctor john deloney we would love to have your phone calls we would love to have your questions and you guys this is a life and money show so we would love to have a conversation about uh your mind uh where you are if you're feeling a little depressed how can we help you um if you're dating and you have some questions and even young people we got some young people out there in the studio today we actually have people with masking and people without masks because we just love all kind of people so if you're watching this today on youtube thank you so much for watching if you're listening wherever you're listening give us a call triple eight eight two five five two two five triple eight eight two five five two two five hey you know what let's go ahead and kick it off uh with jacob out in uh tulsa oklahoma uh jacob good afternoon how can dr d and myself help hey anthony it's good to hear from you hey i had a question i um i'm on my wife and i currently have baby step two and uh i was wondering do i need to leave my student loans because there's four of them do i need to leave them in one big section or section them up is it a great question for smaller ones how much how much debt are you in baby step two total 13 000 and all 13 000 student loans i have about 3 000 credit cards uh 3 500 on a card that was totaled and i didn't have gap insurance and about a little over six in student loans cool great so to answer your question um no you're not going to lump sum in one lump sum what i want you to do is break it down so if you have four different student loans you're going to put that in the air in in in the debt snowball so say for example you have uh two student loans one is one thousand then one is five thousand but let's say for an example you have a student loan for a thousand then you also have a credit card for two thousand and then the next student loan is five thousand where you're going to put one thousand dollars first you're gonna put the 50 2000 credit card in between the two student loans you see what i'm trying to tell you so it's like you don't line up the student loans in the debt snowball wherever they are yes sir all right so don't don't add them in there uh don't lump sum it all together just going ahead and just line up the decimal ball and make it work so where'd you get your degree uh jacob i'm actually uh finishing up my degree at osu um in history my plan is to be a teacher okay so at a boy hey yeah so be a great teacher will you be a great teacher well he's going to be i'm going to try my mom was a teacher my grandma was a teacher so i figured i'd continue with the legacy that's what i'm talking about good for you and congrats on picking a good big 12 school yeah way to go man i'm a red raider so we're not friends except for right now we are so good for you man all right all right it's about to work hey man jacob thank you so much for calling in thanks boss all right triple eight eight two five five two two five it is uh dr deloney and myself uh i was about to call you dr d i kind of like you call me anything you i can't tell you anything that you call me off air so i'll take dr d man i'll take it hey so is that common anthony that that um people want to lump these student loans into one big pot and they don't they don't think to think think of as individual loans individual debts that just go in their place on the debt snowball yeah it's definitely on it i mean it's it's definitely um something that i even understand because what they're doing is like well my student loans they're making one payment and making one payment that is divided between four of them if they're all in the same place right okay so uh which i totally understand but if you really want to attack the student loan then what you got to do is go inside and then list all of them off and you can honestly go log into the student loan portal and actually make payments on each one of them yourself and so and that's what i always recommend i always say you know what don't just make one payment and allow them to divide them up no work to debt snowball right so pay the minimum on all of them if that's the only project that you do have which i'll talk about then in my on my quick read uh called destroy your student loan debt um i tell them to go in there and look at okay what do you have how much you have line it up in the smallest to largest and then attack one by one by one by one don't just make one payment that goes to all of them because that one payment it doesn't have a lot of juice on each one right no it doesn't have a lot of juicing and really it's going towards interest it's not really going towards the principle of the payment okay okay so uh man that's good question dr d i'm learning you're teaching me anthony that's good it's about you're teaching me it's about time you learn something going out to dallas we have a conversation with tyler tyler good afternoon how can dr d and i help hey can you all hear me yes sir absolutely perfect great great talk to y'all um i'm 21 i'm entering my senior year this fall at texas random university i've read the total money makeover the retirement inspired and i'm looking forward to reading other books my question is um back in the spring i was given notice that i was given an individual brokerage account with some single stocks in it and that total value is about ten thousand dollars my question is is it smart to cash this out to pay off if yes should i cash it now or wait to see if it goes up that i know you really can't time the market or anything like that yeah you know that's a good question what are you going to school for tyler so i'm going to school for construction management but the degree is based it's called construction science basically construction management okay okay and how much is it going to cost you per year per year i got it written down right here every year it cost me roughly 20 20 000. 20 000 so that's gonna be a four-year degree program yes sir so you're looking at sixty thousand dollars okay eighty eighty eighty i'm sorry eighty my math is off i'm sorry eighty thousand dollars and you're a senior almost done i'm a senior almost graduated yes i graduate next week okay all right so you graduate next spring how much debt are you going to graduate with the day i graduate i've done all the math um let's see the balance um i'll have 30 000 that between scholarships and my internship ever that i'm on right now um the day i graduate i will have 50 56 000 and then after i applied that if i apply that single stock that will decrease that 46. okay cool uh you know i'm not i'm not a huge fan of single stock so you have two options that i'ma let you choose from it um you can pull it out and just put it into a roth ira and let it grow from over there you're gonna pay penalties no matter what on that end um or you can pull it out and if you want to pay your debt that's fine um for me i'm trying to figure out how can i go ahead and just keep that in the investment side and pay off the debt but if you want to pay off your debt with it that's fine you know honestly tyler that's fine you can go either way right you know you're young i mean if you want to attack the debt go ahead and attack the debt um but if you want to just roll that over into a roth ira it could save you a little bit there um you could do that as well but i would definitely i'm not a single stock guy so i don't even invest more into single stocks all on the right portion of this um i think it's a long term so i don't think there's going to be taxes on that does that sound correct or then he's talk with a um get with a smart investor pro on that yeah i mean one of our tax erps yeah yeah it definitely sounds sounds correct but i definitely would get with a one of our elps endorsed local providers uh so they can um definitely help you out and get a little more into detail with your specific thing uh but for sure you can choose whichever robot you want to go but with you being in debt right now i wouldn't i wouldn't be mad at you paying off the debt pay off the debt triple eight eight two five five two two five it's dr d and myself we'll be right back [Music] i think about leaving a legacy like dave always talks about every generation should get better she gets smarter she gets stronger and when when my kids have kids i want them to look back and be like hey you know let me tell you what my dad or my granddad did to get his family free you know he went to where he was a police officer he worked crazy insane hours and was always gone and i want them to be proud and be like hey this guy he took responsibility for his life and that's a generation of curse that we can say stops here we of course will let them know that so that they know hey you don't need to do that you don't have to go there being a police officer i come across a lot of people that are victims and i decided that i didn't want to be a victim because i seen how victims can be you know they're sometimes they're downtrodden they're beat down they feel like they have no control you know we took responsibility for the credit cards the pilot of bills you know the stress the depression and in turn you know it's actually made me a better police officer too because i go to a lot of domestic calls where you have couples that are arguing i can tell them hey i know where you i know how you feel i know we've been so i can kind of get down with them and kind of recognize with them in their issue my name is dexter pitts and we live in louisville kentucky and i am a police officer and my name is christina pitts and i am a program manager for an agency that provides residential support for people with intellectual and developmental disabilities uh we've known each other since the seventh grade but we actually reconnected a few years ago through facebook we just became friends started uh driving down to sierra bowling green and going to church with her next thing you know we were married and have two kids and she's still with me so money is so uncomfortable to talk about even between people that are married i mean the number one cause of divorce in america is money problems and we wanted to make sure that wasn't going to be an issue you know in the back of my mind like we need to save money but i'm like we have joined accounts we have enough money you know i can go out and buy and spend but really it was not the best place for us but to be totally honest like even like from the way i grew up we just made enough we were comfortable where we were but that's kind of just how how it was so that's where the stress came definitely i saw it in my husband where he was like i have enough money but we just have enough in my mind i was okay you know but when we got married and things got her you know they were a little bit tighter with the mortgage and you know when we threw in her bills and my bills together it was real tight and it just you know it got really uncomfortable i show all the time complaining about how awful their time shares are and yet you guys have been really having good success getting people out of their timeshares we have we kind of create this industry now there's a lot of exit companies out there they come and they go timeshare extra team is different i mean we we now have you know almost 20 000 people out of timeshare contracts actual results actual results big deal our guarantee is that if we can't get you out of your timeshare we give you your money back hey if you need out timeshare exit team is the team the only team that i trust to help you schedule your free consultation by calling 844 999 exit or timeshare exit team.com [Music] [Music] wow man you know one of the greatest things i love about working at ramp solutions is our team we have amazing team members here and one of them is kelly daniel our phone and associate producer and uh i won't say what just happened but i just want america to know that i love i love ken she clowned you i love cats i love killing hey you guys it's dr d and anthony o'neil and uh we're excited to be hosting the show today so give us a call triple eight eight two five five two two five i'm always show love to the youtube world youtube youtube what's going on if you all didn't know um if you're listening to the podcast if you are maybe listening in your car every single day from 1 to 4 p.m central standard time dave or any of the personalities when the dave ramsey show is on we are live on youtube so i want to say hello to philip barnett i see you commenting a lot in there you're more than welcome to give us a call on the show i see that you kind of disagree with some things and i don't have a problem having a conversation with you live on the air in front of 17 minutes you're calling them out but crystal harrison hey hello um and uh to gizelle and aubry miles and femi finance hello you know give us a call just saying hello to everyone i love the youtube space i love having a conversation so let's keep this conversation going and having a conversation out in san antonio texas with hayat this is going to be a great day hey good afternoon how can dr d and i help hi guys uh thanks for taking the call um i'm trying to figure out how to deal with a little bit of heartache um over feeling estranged with my 21 year old brother um we took him and my uh 33 year old brother as well as my mom and five years ago my husband and i and they lived with us for five years until last june we were financially responsible for everyone and we were hoping to give everyone a you know fresh start after some domestic issues that we were they were facing you know in their home base and so things hit a breaking point for us in june and we asked everybody to leave so it was kind of abrupt uh yeah my young brother kind of um things kind of my my middle brother moved back to san antonio to during the corona everything happened and uh things kind of just became a big load what was the abrupt what was the abrupt y'all got to go now five years up until now and then it's just like y'all gotta get out what was that what was that i think it was it was coming i think it was just the family dynamics starting to lock back into old habits and things we wanted we wanted things we wanted people to move on and start new jobs and careers and things like that but as soon as the third you know player and the family dynamic clicked in everybody reverted back to the old habits and things like that so um we felt like we just can't like people you know my brother came here and he didn't work um started kind of influencing the young brother to take less hours and just lounge around and we wanted to just kind of push everybody out of the nest that's at least my feeling so what's your what's your question how can we help yeah how do i um i'm reaching out i'm trying to reach out and bring my youngest brother back in but i also to connect reconnect back with him but my tendency is to say hey come back and i'll give you some money and how do i you know how do i like reconnect with him specifically my youngest one because i can't arrange him without you know going down that path again where love equals health love equals money you know and how do i i see he's struggling he doesn't have a car you know he's he's taking control of that he's you know responsible for rent and all that stuff and i i don't know how old is he drove by his workplace he's 21. okay so it it are you feeling lonely are you feeling disconnected are you feeling guilty i'm not um maybe a little bit of guilt but i don't feel lonely i uh i have my husband and my son and i'm i'm pretty fulfilled okay i guess maybe i'm just being pulled back by those old heart strings right i mean you love your brother um the the best way to love him right now is to let him grow up and the best way to love him right now is to let him develop the muscles and skills and fortitude and grit to put food on his own plate and to develop his own community you'll always be his sister you'll always be the the a strong woman presence in his life that bailed him out for five years that fed him and clothed them and and got him through high school got him to college he'll always be that but he needs to develop his own community his own relationships his own friends that are going to be the folks that lift his arms up in the desert as he goes through the ups and downs for the rest of his life and the best way to do that is to tell him i love him i love you you're always welcome at my house i'd love to have you over for sunday dinner um and i'm gonna be cheering for you i'm not gonna be funding you and so flip the switch in your head that when you hand him a check you are hurting him you are violating his autonomy and his ability to deflex his own and grow his own muscles that's beautiful dr d is that fair yeah yeah that's fair that's fair yeah yeah yeah so just find those tendencies yeah and what you're gonna find my guess is what you're gonna find is it feels so good to have bailed out your family it feels so good to have been the family hero especially if there was domestic stuff and so this is a whole other call but if there was any sort of domestic abuse from a male figure in the house they got out they jumped into you you were the hero you rock and rolled it you fed and clothed everybody you and your husband were the rock stars and it's easy to to to let that form your identity let that become you and you're not that you're a sister you stepped up in a time of need which is what sisters do and now you've got to go back to just being a wife and going back to just being a mom and those aren't small back toes those are identities those are beautiful things but you've got to you've got to fight the temptation to go back and try to resave everybody again right you've got to put a period at the end of that sentence you did you you did incredible things you came through clutch and now you get to be a mom and a wife anthony how do we how do we adjust our do we adjust seasonal moments and don't let them become our permanent identities does that make sense that question sure doesn't no it doesn't it doesn't okay how do you go to college for three or four years and be able to put a period at the end of that and not walk through life like i'm just a college dude how do you have a relationship where you love somebody for two years you're really invested and then you ultimately decide we're not going to be together and you're able to let that go that she or he is not a part of your identity anymore how do you step up and help somebody change their tire in a time of need and not wear the i get it i'm the i'm the tire changer guy yeah i get it and i think it comes down to the mindset you know i think everything is seasonal you know everything is seasonal but we make it into a permanent state into a permanent situation and i think sometimes we're just driving by a season to get the education to get the wisdom to get the knowledge to get the experience experience but then we take that and say all right i'm gonna live here and i think it's because we're uncomfortable for going from here to there because we spent so much time over here now we've got to go somewhere brand new and we want to keep a foot in that area because we know we're safe right we know we're safe we've been here i won over there exactly exactly the prime example i come from um a predominantly african-american church before here i mean i i lived in that space i know that world i mean i was in my comfort zone and coming here i came to a you know a very different culture you can say it a very white culture right a very different culture and i'm like whoa it was nervous so i tried to keep my feet over there while i had my feet over here and i had to quickly learn anthony be you wherever you are because then if you keep your feet in both worlds then you're never really anywhere you're not right you're not you're not and so what i had to realize is anthony you're anthony o'neill and wherever you are you're going to be anthony o'neil and get you needed that season for a period of time you got it now you're over here be you and get what you need from over here hmm hyatt you heard it here anthony o'neil dropping wisdom no not me that's you this is the dave ramsey show [Music] we got married in august and i called him in this well november and said hey we're pregnant she kept telling me that she was pregnant and i'm just thinking man i'm not ready yet this is not supposed to happen yet and the next thing you know i just remember riding around my police car listening to dave ramsey on the radio and then i told her i was like i think i'm gonna get his class so we're gonna do the financial peace university and from then we just i dove in we immediately started making cuts and i started working extra jobs and i told her i think it's time we sell the house to her growing up the way she grew up in a very you know moderate family she never really lived in a house always apartments but she did not want to let go of this big house and all the space she had and she saw the vision that i had and she understood it like a good wife she actually she followed me and believed me in my vision but to be honest again i was the one dragging my feet like i did not want to do this it was uncomfortable because that means giving up what i have dreamed about so long of having a house so i guess he was mostly the saver and i was a spinner he wanted to just cut off everything next you know we sold the house and we moved into a tiny two bedroom two bathroom apartment maybe 800 square feet it was on the third floor and it was a long three years we stayed there we saved a lot of money but we also paid off most of our debt in that time like i said i was working them maybe close to 100 100 plus hours a week i would come in and i would go get a shower lay down for a little bit and go back out the door and go back to work and every day i would just wake up and look at my wife and uh look at my little newborn daughter and i'd be like you know i got to do this we're free yeah and that's the best part yeah i don't have to work like i used to work it feels wonderful because now he has a choice because of course you have working families who are always working trying to just make ends meet but now that we have our bills paid our children are able to see us more to enjoy those special times within that our children don't feel that stress our kids they get to see us you know do our budget we put all our money into the envelope system we use the every dollar app you know and they know what's going on they might not get a true understanding but they're seeing it in action and the more they watch it the more they're going to understand when they get older and they're going to be able to implement it we paid off 265 000 with the debt in about 45 months we both made that decision together as a family to stick with it because it was difficult it's not easy but what's ever worth anything if you don't put that much work into it so this is just encouragement that whatever that amount is it's nothing greater than what god can help you make it through and i think it also has widened our scope because we were looking through a lens this small and we weren't able to see what all we could affect so now that it's widened then we're able to see how many people we can bless how many lives we can touch so now we can look back and say it's over and we have been able to reach and overcome that mountain in our lives to be able to focus on what's true which is helping and serving others and that's what fpu and being free is all about very simple i like to spend my time outdoors when it comes time to do my taxes i'd like to have a professional who's got integrity take care of that lo and behold i found somebody i like there's a better way to do your taxes what do we sell around here hope you're in shipping is what you ship if you're developing it's what you develop we do exist for those that are not here we're here because we were a group of people banded together that care care deeply every day marriages are impacted people's family trees are changed count it down let's hear a debt-free scream are high health care costs getting you down are you confused trying to navigate the health insurance world do you wish you could find an affordable biblical solution to your health care costs based on new testament principles christian healthcare ministries or chm helps christian families churches and businesses join together as the body of christ to share their major health care costs as a chm member you can go to any doctor or hospital you prefer you aren't bound by an approved health care provider list and all treatment decisions are made between you and your doctor no treatment approvals are ever part of the chm experience for tens of thousands of christians chm is a trusted affordable and biblical healthcare solution and it can be the solution for you as well visit us online or call today to learn more about how we can serve your family church or business christian healthcare ministries [Music] 1-800-791-6225 [Music] [Music] going out to baton rouge going to have a conversation with donnie donnie good afternoon how can dr d and i help hey dr dna how are y'all man we're doing well today man thanks for calling in how can we help yes sir i am on my baby step two i want to go back to school for my bachelor's degree i currently receive two thousand dollar incentive uh per year for my associates and i'm wanting to continue to obtain my bachelor's the cost would be approximately ten thousand and the incentive would increase to four thousand dollars per year of course i'd pay cash and the degree is not required but it's just a personal goal so it's not required for the particular field you want to go into well the the field that i'm in right now it's not required for any um for any position increase it's just a personal goal that i'd like to have oh okay cool so what do you do right now again firefighting firefighting that our boys are talking about man thank you so much for what you do bro for real uh thank you thank you yeah so yes sir so all right let's talk about this so we're looking at about six thousand dollars extra outside of the four thousand which you'll get six thousand dollars a year uh to get this program is not needed it's not a requirement uh that you would eventually pay cash for it let me ask you this question uh before i give you my answer i let dr d get in here too with us if you get this program what's the income increase how does this benefit you financially right now um right now nothing it would be so all it is is in setting up so we get an incentive every year for uh the degrees that um it's currently 2 000 for associates and 4 000 for a bachelor so all it would all the only financial goals financial increase would be about 2 000 per year okay all right all right all right and are you are you in any debt right now uh yes we'll be debt-free in a few months uh uh our goal is by november okay how much debt are you in right now uh thirty thousand thirty thousand dollars hello donnie did it did i lose you man why not okay oh there he is he's back all right and let me let me get this straight you're 30 000 in debt right now that's correct okay um that will be taken care of by november is where our goal is okay all right so here's my suggestion for you donny because i like you i don't i don't i don't have a problem with you getting the extra education i believe education is the most important thing we all can obtain and so getting the extra education and going after that i am totally totally cool with that here's where i have a problem at though i want you to save the six grand that you're going to be paying per year and put that towards your debt now once you get out of debt once you get your fully funded emergency fund and and you're specifically in a career field that i think an emergency fund is really much needed uh much so needed i wouldn't do just three months i actually would go six months just in case if something did happen i'm on top of your insurance covering you you have six months as well uh to be there and then after that man once you have your foundation laid if you want to go back get some education and experience that journey just so you can feel accomplished i have no problem with that at all but right now i really want you to focus on getting um out of debt if you were to say like hey i'll get an extra 15 20 grand a year uh for the six thousand dollar investment i would i was like yeah okay let's go do that but right now there's no financial investment it's taking away money you can put towards your debt snowball i mean it may add a little bit more stress too just a little bit and so i would advise on the financial end to just going ahead and cover the foundations and then go for it uh once you are out of debt understood understood definitely all right all right man thank you so much for calling in man and again i mean this donny uh thank you for putting your life online for for us you know going into a uh um a building that's burning up if it ain't my wife and my kids i ain't going in the building i will but we're different people you go in for me i i would for your wife you had to think about that and that's right so anthony i found something we might disagree on tell me tell me um we disagree on a lot of things that will publicly say out out to the world right do you think education has to have an roi to it or has it has a value in and of itself when i am in debt and i do not have a fully funded emergency fund yes okay if i am in a financially secure place no well said so we do agree or you just said we disagreed i thought we did but you clarified it it's contextual then right so in this world if i just if i still owe a bunch of money yes i just want to get a degree it's not going to contribute to my to helping me pay this debt off it's just something i want to do right then we're going to we're going to pay off debt first right but on the other side if i'm debt-free free i've covered my my four walls and i want i have this dream i've got this this desire to learn more to to hear narratives and stories that i've never heard before i may not get more money but education something worth in investing in absolutely so so on that flip side i would ask the question can you do it without it costing you that much money because in today's day and time you can read a lot and study a lot without it costing you ten thousand eight thousand dollars a year i mean like for an example i'm a part of master class online and that's costing me you know about two hundred dollars a year and i literally go in there every single day and i learn things that has nothing to do with finances that has nothing to do with what i enjoy doing but i'm learning and i'm subscribing to these classes because i want the education i always want to be growing and maturing and learning different things but i can i can go online to a university said university and spend ten thousand dollars for the same information that i'm spending two hundred dollars for so i would say i don't have a problem with people learning just to learn but does it have to cost you that much to learn and so the way i would characterize that the way i would my response that would be this um michael jordan always had a coach right and i had a nutritionist and a workout coach right and and and and and so i think when we think of education as information yeah master class is incredible when i think about education as a relationship as a coach is going to walk beside me and make sure i'm picking up this information and not only am i getting information but i'm learning how to do the thing right how to become this thing that's where i think pampered coach is good right yeah yeah but then you came from the school right will the professor actually walk through that with me oh yeah yeah my professor didn't really no hmm no i mean he showed up for class and left as soon as class was over no there's and i'm not sure i'm not speaking that's over all of them that's right you know i'm just saying for them that i've experienced outside of seminary seminary they walked me through the process but traditional school they showed up and left and and the same information i could have i could have went to youtube or masterclass or something like that that's right but you said a keyword they're a coach right i don't have a problem with coach that's right i don't have a problem with mentors i think we all need them in different areas of our life i have a mentor who is who's been married for 48 years and he's mentoring me on how to be healthy my single life to go towards that that's my mentor that's my coach i love it but from a school university perspective spending 10 15 20 000 to get that i would question like is that the only route if that is go for it as long as your foundation is solid and i think you're asking a question that a lot of people in america asking right now about whether i send my kid back if you know if with covid and are they going to go for two weeks and get sent home i hope that my some of my best friends on planet earth are extraordinary college professors i hope the whole professor is listening and hearing this conversation to say are you somebody who just shows up clocks in and out because if you're just trading in if if your job is just information transmission yeah yeah and get that 200 bucks from masterclass absolutely if it is i'm gonna be about the the business of human transformation people change that's a that's a that's an exhausting job it's a tiring job it's a noble job if if it's transformation that's right human change i'm paying money for it i love it if you're just showing up and there's nothing there i'm not paying money for it i love it not doing it this is dave ramsey [Music] some of the biggest aha moments i've had in life is when i've realized and learns more about who i am and why i am the way i am when i have more self-awareness i realize wow i win more in my marriage with my kids at work and other relationships in life and so as i was on that journey i started to realize wow what if i took some of that self-awareness and applied it to my money understanding not just how to handle my money but why i handle money the way i do so in my new book know yourself know your money we're going to go underneath the foundation of all the money principles i've been talking about for over a decade so besides just budgeting and getting out of debt and saving and retirement and insurance all these principles we talk about when we go underneath the foundation and start talking about not just how you handle money but why you handle money the way you do i promise that self-awareness will help you win with money faster and this book is going to give you the fuel and the hope to cause it to happen [Music] we believe the american dream is alive and available not for a select few but for everyday people like us regardless of background or bloodline we make our own success we choose the path to building wealth it won't happen overnight we know that investing in the future takes sacrifice we won't do it alone we will seek wise counsel along the way and refuse to take advice from broke people we will not make excuses we will make progress obstacles will get in our way but we'll go over them we'll go under them or even through them because we have a plan and as we succeed we will not apologize we are blessed to be a blessing to give outrageously change our families impact our communities and leave a legacy we are focused and not finished on the elp website and put in our information and immediately got a response when you think about a real estate agent you think they're going to try to sell you but with this program i realized right off the bat that that's not what they do she really is here to support us one of the things that makes the dave ramsey show unique from other shows is that we genuinely care about our listeners that's why we are very intentional about choosing our advertisers blinds.com offers high quality window treatments at unbelievable prices and then their customer service is truly unbeatable they make it simple to shop for blinds shades and interior shutters from home with easy online ordering and free shipping right to your door and blinds.com will help you every step of the way just like they've helped thousands of my listeners with free design help by phone and online plus they guarantee the perfect fit go today and take advantage of this week's special offer [Music] do you ever get to the end of the month and have absolutely no idea where all your money went it feels like as soon as the money comes in it goes right back out i've been there i know dr d has been there been there man here's the thing you guys if you wanted to take if you want to take control of your money you have to be the one to tell it where it goes this means there's no secret to this thing there's no surprise you got to have a budget and the best tool out there is every dollar because you gotta give every dollar a title a name an assignment every single month and the best way to do this is with our brand new ramsey plus membership it gives you all of our best money products including a premium version of our budgeting app every dollar that's where you make your budget track your spending and clearly and i mean this clearly see where your money is going you can try all of this for free with a free trial of ramsay plus today never again wonder where your money is going and to start the free trial i want you all to text begin three b-e-g-i-n eight nine one more time that's begin b e g i n two three three seven eight nine um i've been a part of the whole ramsay plus every dollar movement for a while and true story i'm gonna tell myself today you all can go over to my instagram account and i told myself this morning uh my ig name is at anthony o'neill and you'll see thousands of people are talking about it right now but i woke up this morning and i said you know what it's friday it's a good time to get some some some pick up food like just go to pizza hut or something like that just get some fun man that sounds so good so good right and then i was looking at my budget and my budget just literally screamed at me you just went grocery shopping on tuesday huh and i looked at my budget and said i didn't ask you and and and it's like man and i stepped back and i asked myself well why did you spend you know 200 this month to go grocery shopping to go spend 30 dollars to get more food when you have all this food in the house and my guess is that food in the house is probably was probably planned and thought out so it's healthier for you a muscle it's not going to be like full of trash and sugar and nonsense it's going to keep you up and not let you sleep well yeah there's no pepperoni or pineapple or sausage yeah there's nothing like that in the refrigerator that's right you know and my budget was like yo you have financial goals and and over the last i want to say like man 60 days man i've really challenged myself um to do something that i've i've to take myself to the next level um and my budget told me anthony i said here on the show i sold my car i sold my bmw i had a bmw 750 and i sold it and i put the money back in my savings account because within the next three years i just built my house but i want to build my dream home then i gave myself a timeline and my budget said anthony you have goals you're going to give every dollar a budget if you go out to eat you just wasted all this money and time that's right and so man so how good did it feel like like it's it's i think it's easy to sometimes think that the ramsay folks this ecosystem we talk in cliches and we talk in um you know sound bites so be honest you had this you you've got a a nice car that you drive your daily driver yep you had this dope bmw in the in the driveway yeah it was in the garage in the garage kept it kept clean of course you do you sold it and then you have actual money in your savings account well i had actual money my savings got before that we got it we got it so walk me through that process did it feel good to deposit that check did you feel a sense of loss you know i think the flesh side of me when i went to sell the car was hurt because i'm coming from this big brand new let's just be real 120 000 on the car that i didn't spend nowhere near that i bought it years four years old um but you had some you had some identity status built in this fancy car yeah i'm getting out the car i mean i feel good i step out the car differently and from a guy who talked about you've slept in a car before absolutely this feels good to have phil's question for your car in your driveway feels great okay yeah it feels great and so i started really just writing down my goals and my visions my vision and i was like what is the ultimate thing what's most important to me right now it's not the car it's it's not i'm it's it's not a lot of things like i was telling dave a few weeks ago i had a louis vuitton travel case that i spent all this money for i probably used it two or three times i sold that yesterday like i'm really just i'm i'm writing down a vision i'm making it plain and i have two visions one for my life and one for my budget for my money right and i make sure that the two are congruent right so my ultimate goal as far as an in life is i want i really want to go ahead and build my dream home i said by 40 i want to be in my dream home then my budget is like all right bet how do we get there gotcha and i was like yo let's let's start so a lot of things that i won't say on the air um because that's personal stuff but i'm about to start really transitioning some things right um and making sure that i'm sticking to my budget even the more because i want to make sure that i get it and the greatest enemy to our success is our excuse and so this morning when i'm looking at my budget my budget you know we i i talked to my budget my budget talked to me it sounds crazy but it's real you know when i look at the money it's like man don't make an excuse right you have goals eat your food and see i would even go below the excuse line is the lack of intentionality come on man and you painted a picture yeah of a house in a place yes of a a financial security a number yeah that's gonna say i can exhale yeah and that was more important than the picture this fake picture of i'm somebody because i got four wheels yeah on a box of metal in my driveway and you know what yeah absolutely and and answer your question in the beginning dr d when i deposited that check back into my savings account i was like man did you have like a yeah i mean i was like yo this is this is beautiful like you just got somebody's annual salary in your savings account no see you can't say that i didn't spend a hundred thousand dollars no i'm saying you got somebody else out in the world not yours yeah somebody else yeah uh yeah i see what you mean yes yes yes i just put that large amount of money into the account because uh now i'm getting closer and closer and closer to my goals i'm getting closer and i have uh some major steep goals that i really want to do and to get to those goals you're gonna have to be super clear and continually refine and ask this hard question yes who am i and what do i want right yes good for you man and so i say all to say you guys like having a budget is a vision for your money anthony's getting growed up and growed up and growed up it's a clear vision for your money if you really want to be successful with your money you have to have a budget and you have to stick to that budget and your budget is going to make you make decisions that you may not like today but you will love tomorrow and when i'm moving to my home i'm going to be like yes it was every decision that i made was yes and now i'm not saying that i'm eating on beans and rice again i'm not doing that right but at the same time why do i need two vehicles i mean i've asked that question of you really yeah you never asked me that no i mean i i asked it rhetorically in the kind of a mocking making fun of you kind of way but i'm glad you got there and we find this out on the dave ramsey not in private but in front of 17 million people you you you you tell me that oh my goodness you guys let's go to a social question listen again text begin b e g i n 2 3 3 7 8 9 begin to 3 3 7 8 9 so you can get the free trial of ramsay plus i'm telling you right now it will extremely uh bless you morgan from the ramsey baby subs asks you don what's the best approach to budgeting when you both when both me and my husband have dealt with financial abuse in past relationships um you be honest and you call it out together and you put both of your past financial abuse tragedies bear it open um lay it laid on the line and then as anthony just eloquently and vulnerably put out there you co-paint a picture of what tomorrow's going to look like you both decide what is this house going to look like who's going to be sitting at our table what's the table going to look like what's thanksgiving going to look like who's going to be involved in that and then you go build that together that's it and i totally agree and i echo everything you just said hey i appreciate your vulnerability man i tell you what i'm super proud of you and you're inspiring me hey man i'm gonna go have a conversation with my budget tonight it's about time it's gonna be uncomfortable remember you guys the caliber of your financial future will be determined by the decisions you made today make the right one this is the dave ramsey show [Music] let's talk about preventing the unexpected from sabotaging your budget or emergency fund imagine your refrigerator goes out the average new refrigerator costs around fifteen hundred dollars but fixing it yourself could cost you only fifty bucks here's what you need to do fix it that's right you can fix your major appliances and power equipment yourself with parts and expert advice from my friends at appliance parts pros over the last 20 years appliance parts pros have helped over 7 million families solve their appliance problems while saving up to 90 percent on their repair costs they carry over 2 million appliance parts and offer easy returns and anyone can do the job themselves with 3 500 repair and how-to videos plus live chat on their website you can also call their expert technicians 7 days a week or join their facebook group for extra tips save money and get your parts today at appliancepartspros.com [Music] we're jp and beth taylor we're from oregon missouri my folks brought us up to uh to kind of conserve our money to be responsible with money that kind of sank in for a while until i started going out and actually making money popular opinion was always there that well you're always going to have a car payment and you know you're going to have a house payment and those are things that are just part of life we both had good jobs for our age we were making a lot of money and had nothing to show for it she was listening to the radio one day and heard dave ramsey on the radio who's this crazy guy and i think that was that didn't you actually say that maybe that's crazy you decide i'm getting out of debt why because all my money goes out in payments i don't have any money you live impulse to impulse thank god it's friday to oh god it's money i know i used to do this stuff but you know what i put myself in a position that those things could happen my folks bought us a copy of financial peace and we started going through it and oh i don't know how how far were we into it a couple months into it and found out that harley had cancer it put everything on hold we would go charge the things that we need we had no backup plan no emergency fund no nothing so we focused on her and figuring out what we had to do to help her to be well again so i think the turning point for us was when she's going to the grocery store and she's using a credit card to buy basic necessities after we knew that she was on maintenance and things were going really well and just took off from there we had 64 000 worth of consumer debt and it was staggering going back through fpu was really a catalyst to help us push forward and really drive and get it done this isn't just a shameless plug for dave we actually do play this game and it reinforces what we're trying to teach them in life so the kids have learned early on that if they if they do a certain chore they get a little bit of money for here for there great place to go when you're broke to work we had a small fire outside the house right here and it took this whole wall i had cleaned out the ash from the fireplace and set it let it cool and then a day later set it outside the door and the wind picked up and now i'm forever teased as the person who tried to burn down our house we had a our original contract was with one lender they sold our loan we had no new contract it's just hey you make your payments to us now but we didn't know what to expect from them until this fire happened jp called him and said we have a contractor we have to pay what are we supposed to do and they gave us thrown around it was ridiculous so we just lumped all of our money with what they were going to pay out for this little fire and paid it off done now it's our house and we're saving for another car now to replace clifford he'll be retired to only the stuff hauler i was gone i was out of town for a while and i got a phone call that said hey we just went in for a checkup everything's great i don't have labs yet but but harley's looking feeling great all this and that the following monday her nurse practitioner called and said hey we were looking her at harley's labs and i hate to tell you this on the phone but we're pretty sure that the leukemia is back having that emergency fund was so far grander than taking a credit card and charging everything on a credit card we knew that our financial life was going to be okay two rounds of of cancer two rounds of chemotherapy a house fire it seems insurmountable it can be done if you just focus and do what dave teaches our debt free screen was on a monday and so the day before sunday was her very last chemo we're very blessed normal kid again yeah she's a normal kid again a hundred and thirty thousand dollars paid off in six years in one month and we're gonna be free 75 000 income count it down let's hear a debt free screen three two one we're debt free if you want to be the best you have to learn from the best there's only one event that has it all thousands of entree leaders 10 world-class speakers three action-packed days next year summit 2021 simon sinek patrick lincione marcus buckingham jim collins craig groeschel christy wright ken coleman john deloney chris hogan and dave ramsey the difference between those who lead and those who don't isn't talent leadership is a choice a choice you make to go first a choice to never settle for good enough a choice to never settle a choice to never stop learning none of it is easy but the answer is simple entree leaders throw back their shoulders and just leave the total debt is around six hundred and forty thousand dollars i wanted to come clean out a credit card that he doesn't know about i am gonna probably pay student loans for the rest of my life i just don't even know where to begin and i don't know what to do i'm not scared welcome to the dave ramsey show you are not a victim you are the hero in your story you can be intentional about your character you can have money and a career everything just started making sense i was like i'm gonna do this let's hear a debt-free scream [Music] live from the headquarters of ramsey solutions broadcasting from the dollar car rental studio this is the dave ramsey show where america hangs out to have a conversation about your life and your money my name is anthony o'neil co-hosting today with me is the one and only dr john delony triple eight eight two five five two two five triple eight eight two five five two two five is the number um we're talking about your life your money your mind and dr d like this is your month you're launching your show at the end of this month we are in it up to our eyeballs there's a whole team of people okay man what can we expect we can expect real talk okay we can expect man we gotta get some more light back out in the media yeah it's just a it's just despair and doom and gloom and sadness and people are walking through stuff man and anthony i've i've just sat with people for years in the worst of the worst moments and i'm i'm convinced beyond a shadow of a doubt because i've seen it that there is light at the end of these tunnels yeah it's just so hard to see sometimes when you're just in the pit of despair you've made decisions you don't think you can ever walk back you don't you don't believe you have any dignity anymore people you love are no longer with you it just feels like it's all over and so this show man it's gonna be a call-in show it's gonna be a it's about helping people figure out what the next step is that's good how to regain some light in their life and then go get it man go get it you know that's amazing uh you know you have some of the top producers in the company with james and kelly i tell you what man i lucked out we got zach and james and kelly we got a whole squad man they are studs and they are top best in the country what they do i love it what's your youtube channel so that people can come check you out and subscribe youtube.com johndaloney youtube.com forward slash dr john dillon it's actually john dylan yeah not even the doctor here not even doctor so my mom named me john so that's what i like to go by y'all love it man y'all go check him out i mean the guy's having some real conversations some heavy conversations and if you're experiencing something or you're going through something and you want some counseling uh some wisdom some guidance give my brother a call i'm telling you right now you will enjoy it going out to arizona we're going to have a conversation with nate nate good afternoon how can dr d and myself help well good afternoon i actually have a question about opportunity costs um i guess the scenario is i am now on babysit seven two and a half years congrats way to go thank you yeah 64 of that was student loans and i have watched your podcast before so thank you for uh lighting that fire um i'm about 75k net uh after taxes and everything like that i have 20k in my emergency fund 15ks invested i'm an mba major so i kind of thought i could play stock markets and i'm not doing bad but having done mutual funds with my roth ira like dave teaches oh my gosh so good and i'm loving the dividends that get returned off those mutual funds so now i'm at a position in my life where i need to make a decision rent was uh my rent renegotiation was coming up and since i'm a veteran everyone was like go get a va home loan but i've never really been a home person you know like i don't want the maintenance and i don't care but everyone i talk to says that's the best investment you're going to make is owning your own home but when i i guess my vision for my money is i want like if i if the home was 150k i would rather have 150k in mutual funds and live off the 20 returns 15 returns because those are things i am reaching now with the with the funds that i have uh and i'd rather get a paycheck at the end of the year when those uh when those mutual funds pay out um so i guess the question is opportunity cost if i were to get a home um i could dump my excess amount i live on 22k so i have about 50k i can throw into the house get that paid off in three four years or live minimally still put that all into some growth mutual funds that are going to pay some dividends and stuff like that and live off those funds and then if i want to buy a house you know those dividends could possibly buy a house sooner rather than later uh and i guess i don't know what the opportunity cost is and what dave would think about that so yeah i hate you too yeah yeah yeah yeah if dave was here he would say the same thing i'm saying babysit number seven you're building wealth and you're giving okay that's baby step number seven all right um so right now it's about your experience what do you want to do okay you don't have any debt you have a fully funded emergency fund you're already investing 15 you're already living way below your means um i i think that it's time for you to enjoy it okay i think sometimes we can get so so so gazelle intense that we forget to actually live and enjoy life i think in the first you know baby step two baby step three yes we need to be gazelle focus but once you get to baby step seven you've worked so hard to where you don't have to be as gazelle you should be able to enjoy it and so for you if i was in your shoes i'm asking myself okay money's no issue you know what do i want and i'm saying i want a house and if i can put 50k towards that a year and buy a hundred and fifty thousand dollar house you're going to pay it off within three years you can get some equity building on the house and building on the land that you have it's a win-win situation for you and one of the key things that our good friend chris hogan talks about in his book is that a lot of the everyday millionaires have a paid for mortgage and that is equity growing in your home and so i think for you i'm saying go ahead and get a house you're not talking about buying a 400 half a million or a million dollar home you're talking about buying a 150 000 house so i would go get the go get the house keep investing and then after you do that i would definitely sit back and ask yourself okay where else can i invest some money uh because that's exactly what dave was saying right now you're not wrong either way i think you just got to ask yourself what do i really if i eventually want a house why wait just go get a house now and go ahead and get the equity building for you if you don't want a house right now then don't buy it hey nate can i ask you called us could i yes sir can i go spelunking with you for a minute no please i i yes go for it you're you're a veteran yeah i'm an army vet four years um give me a 30 second run down of your childhood go moving a lot that's about it okay you know what i was gonna try to piece together what you told me in 30 seconds to land there yeah and so the this i anthony is is is right and underneath what anthony just said is i get a sense of a guy who either is scared of or doesn't know how to be home and i think one of the great curses of our time is that we have taken home and turned it into a house and turned a house into an investment vehicle and when we do that we never fully put roots in the ground a mentor of mine dr richard beck asked a question that has haunted me for years and he said how different would we treat people if we could never move what conversations would we have with our neighbors would we have in our local schools and our churches if we knew this was just it and so nate i want to pose this question to you consider thinking of a home as a base as a place to anchor in not just as a mutual fund investment it's a way of being and then you're going to invest in your local community and you know what my guess is when you start developing deep deep relationships when you start really learning what it means to be present and be home you're gonna get a feeling in your heart that is gonna far exceed the joy you get from a mutual fund return at the end of every year that was good only right here [Music] hey guys george campbell here and i am out of the office and downtown and here's why when we're at the ramsey office it's easy to be in a bubble and be around people who think just like i do when it comes to money so i thought let's get around some normal people and see what they think when it comes to finances we are taking it to the street let's do it [Applause] are you in college right now and what's stressful about it financially that i have to pay for it now are you paying for it in cash are you taking out student loans no student loans no student loans is that because a mom who told who told you to do without loans no no it was my choice wow so you're she's really smart are you raised a smart girl i'm trying you guys both have student loans just me just you so what did you go to school debt-free um my parents helped and then i've already paid my dollar one step ahead of this guy i'm gonna be going to med school um so basically the average med school debt is over two hundred thousand dollars by the end of it so you got to dig yourself a really big hole just so you can put it back in after you get out you know anyone that has paid cash no i don't probably close to like 200 000 200 000 in loans you're 24 years old how long do you think it'll take to pay those off probably like 10 12 years mine's about 40 000 pounds okay convert that for me mathematician so it's probably you know not far off fifty thousand dollars okay what was your uh degree in this is really embarrassing so i've dropped out of university twice and then i did a degree so i've got three different loans so i first of all did psychology then forensic science and i actually graduated in fine art so now you have a fine arts degree and you have 50 000 u.s to pay off yeah how do you feel about that it's pretty cool very cool i love that how long do you think it'll take you to pay off your student loans i've been doing it for probably almost 15 to 20 years oh my goodness you've been paying down your student loans for 20 years now yeah then you want to see it gone i would love that i would love it how about you when will i pay them off yeah but when i die i'm comforting so you're like i'm gonna pay off my student loan it'll take forever yeah i'll just like pass it on to my kids no i'm just kidding you pay off the loans early you could do that i can it's possible people do it that's good to know are high health care costs getting you down are you confused trying to navigate the health insurance world do you wish you could find an affordable biblical solution to your health care costs based on new testament principles christian health care ministries or chm helps christian families churches and businesses joined together as the body of christ to share their major health care costs as a chm member you can go to any doctor or hospital you prefer you aren't bound by an approved health care provider list and all treatment decisions are made between you and your doctor no treatment approvals are ever part of the chm experience for tens of thousands of christians chm is a trusted affordable and biblical healthcare solution and it can be the solution for you as well visit us online or call today to learn more about how we can serve your family church or business christian healthcare ministries 1-800-791-6225 [Music] [Music] chministries.org [Music] welcome back we're gonna go out to rochester and have a conversation with matthew matthew good afternoon how can dr d and i help uh first of all i just want to say hey dr d hey anthony o'neill it's a very high honor to speak with you oh man it's an honor that you actually give us a call thank you for the opportunity so uh how can we help you yes so i me and my wife we started last year with on august 9 august of 2019 with 84 000 in debt and we are around 70 172 000 in debt right now okay and i just had a quick question um regarding uh just some communication and how do i go upon this so i'm pretty much a lot of our of my income that i have paid off my debt with has been just like my part-time side hustles like doordash and ubereats and things and i went to go make a payment today of 300 and for because we have two credit cards left and from what i thought that i would have i had a balance of just 350 left to pay i come to find out that i have we have 1 350 left to pay and it was actually used last month uh our target credit card so i've been working really hard and she's still using the credit cards who that hurt huh so it's just a lot of emotions right now and i don't i don't know how to confront her about it because she's just the kind of person that gets really defensive really quick [Music] so i just don't know how to go upon communicating that with her do you want to heal your relationship or do you want to be right in this one and i'm not i'm not asking that as a that's not a loaded question that's just a do you want to do you use the word confront so do you want to do you want to stand your ground and say hey i can't believe you did this or do you want to know what in the world's going on oh just what's what's going on now did y'all have a conversation about this matthew though when you started this journey did you all both agree that we're not going to use the credit cards and we're going to pay off the debt we're not racking up any more debt we're going to pay off our debt was that a clear conversation in the very beginning yes has she done this before yes what does she buy uh she likes to go target what at target though a thousand bucks is a lot of money yeah uh just odds and then stuff just things that sometimes just for herself pretty much uh you know groceries things like that but yeah thousand dollars is quite a bit from what i thought we had yeah so this is there's two two layers to this number one is a word that i learned when i joined the the ramsey ecosystem which is financial infidelity you all had an agreed upon goal and she cheated on you she didn't tell you she went and ran up a thousand bucks in knickknacks and um that hurts you're gonna have to deal with that the second part is um you're gonna have some anger because you are grinding yourself to a nub to try to meet this joint goal and now you're further back right right and so the word you used was confront that's i want to go to war i want to stand my ground with my helmet and my shield and my sword and ready to fight and there if that's where you are then that's where you are um or you don't confront as much as you sit down with the bill in a neutral location and you say hey what happened where are you and if she wants to lie or she wants to get frustrated with you or she wants to turn on and make this your fault then you've got a bigger situation right but i think this idea of confronting i think that's a choice you make and there's no going back from it right and it might be that moment man i'm thinking about this out loud as i'm talking to you yeah i'm still having a problem understanding if you all had the conversation in the beginning why is the credit card still in the house how come it's not cut up you know i um i think another reason why that might be is and i've told her many times that hey you know just from what i learned from you guys and and dave and dave swann you know credit doesn't matter and she you know because our goal is to eventually get house sunday um she's like well our credit score matters because we need a house yeah okay so she's not fully bought into division she's not in it yeah yeah no she yeah she's not about no she's not so and like another thing too i wanted to mention too is she keeps saying oh yes i'm i'm i'm on board i'm on board and i and i told her to a point you are i mean my my thing is being on board is saying hey we do a budget every month you know we do you know we do it the right way and i want to do you know to a t for we hear you i can give you all the practical advice but it's not going to work doesn't matter right now you and your wife have to get on the same page bottom line i can tell you hey cut up the credit cards all right do this put more money over here that that is you have that right now what you're missing is you and your wife are not on the same page matt there's something else here sorry there's something else here is there some is there violations going on bigger than this uh no this is the only thing y'all are fully in sync with your marriage you're full in sync with raising your kids it's just this one thing she just keeps using the credit card right yep do you feel loved and respected by your wife i i do um it's just at this point is you know working 14-hour days you know we have a six-year-old at home i'm missing you know you know saying good night and things like that where i'm you know busting my butt every day and then and then it's just racking the credit card so it's like all this progress that you know i thought we were making is just getting lost here's my suggestion to you um this is what i'm going to recommend matthew um i i want you to talk to her i want you to schedule a place go out to dinner take her to her favorite restaurant before you go there i want you to sit down and i want you to come up with the vision for your family i want you to write down the clear vision and i want you to show it to her when you go to the dinner table and say babe this is this is the vision that i have for the family this is why i want us to get out of debt do you agree with this vision do you see do you want to make any changes you know we want to go here we want to be able to do this for our kids we we want to build a house we want to have financial freedom or do you agree and i think that's where you start the conversation because i feel as if she's not really on because she doesn't really clearly see the vision and i could be wrong because i'm not there but i think that's the first place to start if everything else is great one thing i know about like myself if i don't see the vision it's hard for me to really focus on that so i want you to do that take her out to eat y'all have a conversation about your vision and make sure that both of you all are on the same vision then from there you need to cut up the credit cards and start doing the practical stuff but right now you and your wife need to be going down the same lane going down the same path after the exact same thing and i i fully agree with that and and you need to let her know how much this hurts yeah and you need to let her know i'm putting these hours away from my kids away from you away from time i can never get back and that money is being funneled the knickknacks at target yeah you know what go ahead you know what matthew i want you to say on the line i want you to give uh kelly your name and number john's gonna hate this but i think you and your wife should probably call into john's show i think you and your wife should have a conversation with with john and you just walked them through this thing together yeah we can uh take that call yeah let's help them out let's say something something here doesn't feel right matt and i hope i'm wrong but you got to decide are you going to confront you're ready to go to war are you going to sit down like anthony said you're going to and you're going to let her finally hear the vulnerability in your heart and say this hurts here's the vision i have for our family will you go there with me will you go there with me can we go there together hey we're gonna walk you through this man we appreciate you for calling in this is the dave ramsey show [Music] [Applause] [Music] we've been lied to we've been told that debt is normal credit cards are a must and stressing over money is just how it is financial peace university was created to help everyday people just like you take control of their money fpu coordinators are the reason that financial peace university has reached over 6 million people helping them overcome the lies dump debt and change the course of their financial future forever you can start helping people today regardless of your experience with financial peace university after you've signed up to become a volunteer coordinator there are three steps we will walk you through first you'll set up your class just pick a location at a time that works for you you can lead in any public space your local church your home or even online whenever you're ready just set up your class through your digital account our team can help you decide which option is right for you next invite people once you're set up spread the word to your friends and neighbors if your class is public people can search for it online or you can keep it private and only invite people you know we'll even help you get the word out with a ton of resources to promote your class finally just start meeting your class members will watch video lessons taught by our team of financial experts then you'll facilitate group discussions and encourage members on their journey ahead you can either watch the video lessons together or have members watch lessons on their own before meeting for group discussions your account comes with everything you need to lead and manage your class with confidence stream video lessons take training courses send messages to class members access lesson guides and much more here's the best part leading a class is completely free with the included digital leader materials if you want to purchase physical materials just sign in to your coordinator dashboard for exclusive product discounts look you don't have to be a money expert to be a coordinator you don't have to be debt free you don't even have to take the class before leading one all you need is a desire to help people learn the truth that there is a proven plan for them to take control and win with their money come join us and volunteer to be a coordinator today everything we're about around our place is about intentionality intentionally living intentionally living in your marriage intentionally living in your uh money but intentionally living in leadership and in business being intentional is so rare in our culture doing things on purpose is so rare that the people who do that matter one of the reasons we win best place to work every year is we're so intentional about creating culture about 10 years ago i started realizing that we were getting big enough that the new people on our team weren't getting any time with me to hear my heart and how important and passionate our work is and for them to really understand that we're doing work that matters and really understand some of the value systems of our organization so we started doing a thing and i'm doing one tonight that's what made me think of it when i get off the air this afternoon i'll be doing a uh a meeting with our new team members that have joined us in the last 90 days there's usually 12 or 14 that join us every 30 to 90 days and so we wait there's about 13 or 14 of them and we have that meeting we used to call pizza with dave and then i went on a uh i don't eat as much bread thing because i gained weight i'm eating a little healthier and so we started getting chick-fil-a wraps and so we call it rap with dave and so we'll go in there and sit and eat our chick-fil-a wraps and each of them will tell their story about how they joined our team and and then i'll tell them stories about how our organization got to where it is the way things were back in the day what why is our value system what is our value system like about gossip what's the story that got us there what is our value system like about customer service and how do we get that mentality is it mainly just some kind of corporate mantra well around our place we don't have any corporate mantras we have values and principles that we live by and so that i want them to know where that came from in our history and so they get to hear lots of funny stories and details and and really this is a long meeting i mean we hang out for hour and a half two hours sometimes two and a half hours we get to talking and just enjoy each other and i'm getting to meet and just hang out and become friends with our new team members and i always enjoy this it's my it's always fun my wife makes fun of me because she says you just talk talk talk talk talk and you always come home late with those but i do i have a great time and one of my favorite things to see on the couch is rap with dave let's talk about preventing the unexpected from sabotaging your budget or emergency fund imagine your refrigerator goes out the average new refrigerator costs around fifteen hundred dollars but fixing it yourself could cost you only 50 bucks here's what you need to do fix it that's right you can fix your major appliances and power equipment yourself with parts and expert advice from my friends at appliance parts pros over the last 20 years appliance parts pros have helped over 7 million families solve their appliance problems while saving up to 90 percent on their repair costs they carry over 2 million appliance parts and offer easy returns and anyone can do the job themselves with 3 500 repair and how-to videos plus live chat on their website you can also call their expert technicians seven days a week or join their facebook group for extra tips save money and get your parts today at appliancepartspros.com going out to atlanta georgia having a conversation with john john good afternoon how can dr d and myself help hey good afternoon guys uh i have a question my um i woke up in the morning like what would dave kind of do kind of situation in my head anyway um [Music] my accountability partner wants me to build my emergency fund up to 24 months because i'm still paying off my house at the moment and pandemics and stuff kind of take a while to subside and run their course that's the thought that the accountability partner has so um i can i feed myself like i pay off the house in like two to three years so i'm kind of like why building my emergency fund in 24 months because it's going to take me 24 months to build it up to that point i feel like i should just drop my 400k down to like six percent and then use that uh other you know um percentage out of the 15 extra payment on my house to pay off the house within the next two years and then after that double up by um on my 401k investment contribution to build back up to where it would be if i were not to some paul to a certain extent see in front of him yeah i see what you're trying to say john how much debt do you have any other debt right now outside of your mortgage uh no i'll pay off everything else okay so you're debt free and how much is in your emergency fund right now um right now it's uh 35 000. okay 35 000. what's your monthly expenses our monthly expenses okay 10.50 plus 995 plus 10.23 so we'll say 3 000. about about 3 000 is your monthly expense is all you need to survive in atlanta correct yep that's correct all right so inside of these monthly expenses because it seemed like you listed like three four items do you have food in there do you have clothes in there do you have travel in there do you have haircuts because you sound like you a sharp young brother um you know what i mean it sounds like your monthly expenses are a little low okay so i do not have trouble now i excited travel because i was i kind of loved the budget out of this okay if i do a cutback what can i get down to so right now that three thousand dollars is kind of a midway where i have groceries petrol toiletries um restaurants every now and then i do have haircuts in here okay uh what do you do for hobbies painting hobbies um well everything's kind of messed up right now but can't really do hobbies but um uh sporting stuff uh flying airplanes remote control cars um biking running exercise so forth cool so right now if you have 35 dollars in your in your account and you're saying let's say worst case scenario you need five thousand dollars a month okay so right now you need thirty thousand uh to to really be in a good place that's six months single guy i'm okay with you even having three months because you'll be able to find some some level of employment uh to help push you through so three to six months minimum fifteen to thirty thousand dollars minimum is what you need in your emergency fund i am not a fan of you counseling out and going down on your investments because how do you john uh we'll say 36. 36 all right cool so you're my age okay so right now john time is on our side and if you go down on your investment you're taking away from compound interest so a lot of people think all right i'm young i'll go in the head and i'll stop my investments or come down a little bit and then i'll just dump a lot down the road and catch up on it no timing is our best friend not the amount of money we put into the investments it's the timing so with you being out of debt you having a fully funded emergency fund you need to be investing 15 and no you do not need 34 months or 24 months in your emergency fund the only way i would say i would consider it is if you are on baby step number seven and you just want to have an extra cushion you know years two years worth of living just set aside for you i'm i would be like okay i'm cool with that but in your age right now i would just go ahead and pay off the house man um keep that six months in there i'll take five thousand dollars out go ahead and put that towards the mortgage and just start attacking that right now can you really think about this i want you to dream with me here john you're 36 you'll be 38 years old debt free no mortgage making good money thirty thousand dollars in your savings account your net worth sounds like it's going to be over a half a million 500 000 with a paid off mortgage good income good savings account all your investments in there i don't know a lot of 38 year olds in your place so i'm suggesting don't worry about going to two years of emergencies no pay off the house so you can have freedom and you can really go after your dreams and and i understand what your financial advisor is trying to do like hey we don't know what's going on with kovitt i know one thing about kovitt it's not going to dictate my future it's not going to stop me from doing the things that i really want to do you are in great conditions the average person in the world right now can't afford to pay for a 400 emergency you have 35 000 in the account you are in a great place pay off the mortgage tell your financial advisor your coach uh thank you so much for caring about me uh but i'm gonna pay off the house make sense man yes nico hey man appreciate you so much for calling in you know one of the biggest problems john that i have with coaches is you know they they come from a good place i think you know they really do you know but hey man get we don't know how long cove is going to be we want we don't know how long this is going to be but to tell a 36 year old who is debt free to put uh to have a hundred thousand dollars is sitting in the savings account and still have a mortgage when he could take that same money and pay off his house in two years and have 30 000 i'm confused but i understand the heart be safe how how about we be wise and safe at the same time yeah i think i think the ins the insecurity the unknown is making uh everybody grasp it straws we're all trying to grab whatever control we can and dan we're not again there's no way to control your way through this this pandemic it's just gonna be uncomfortable we're gonna have to deal with our addiction to comfort man and part of that is you got six months in the bank you got a paid off house that's about as safe as you're gonna get my man you know what i mean it really is i mean it really is but i like him you know he he he's a sharp y'all i love that guy man good for you you know you guys every day you can follow dr d or myself on instagram you can follow me at anthony o'neill um we take our questions and we bring them here on the show give them our to our producers so we can answer you some of your questions so you can follow me at anthony o'neil um on ig i do ask some questions i think we got some questions i got a social question for you that came in from chris from facebook okay he asks i'm 14 years old and i mow lawns trying to save for a car should i set my price about the same or a little lower than the competition i mean you know it all depends on what you want to do i mean if you want to get sometimes they say you can work hard you can work smart and work hard means you get out there and you beat your competition so if they're charging 25 you're gonna charge 20 and give them some extra stuff so you can get the work and get get it up there or you can charge a little bit more and say you know what i'm actually charged 30 but i'm actually gonna you know water the grass for you i'm going to come out here and do this and do that it really all depends on how quickly you want to get the money i'm going to say at your age at the age of 14 i'm going to beat the competition undercut the neighborhood that's what i would do that's what i'm doing i'm beating the competition 20 bucks 20 bucks he's doing 25 i'll do 20 if you sign today if you say i can do it today i'm gonna do it and get get you 10 15 yards and you just kill it and here's the thing too okay chris and for anyone listening right now especially young people when you have a financial goal as far as i want to purchase a car i want to purchase a house make sure you have a budget that you're aiming for so don't just get out there and just start working and start doing things no set a budget okay i need to save five thousand dollars then backtrack all right to get five thousand dollars i need to cut this amount of yards at this price and that will get me to that goal and so that's what you need to be doing right now and i mean you undercutting everybody uh so you can get get your chris get it chris good good good good good question man i love it this is the dave ramsey show [Music] it was my junior year in high school and i was that kid that was freaking out because i was scared an admissions counselor came from a local college there and said hey if you do not have a plan how are you going to pay for college right now you are late i was terrified because i didn't have a plan and my parents didn't have a plan and i remember taking out student loans to not just fund college but also to fund my lifestyle and that was the biggest mistake that i made and i am on a mission to help your kids to help all students avoid making that my name is anthony o'neill and i travel across the country talking to thousands of students every single day how to start a good solid foundation for their life do you know that the average student would graduate about 35 000 student loan debt this is ridiculous i wrote a brand new book called debt free degree where i'm teaching parents a step-by-step process on how to get your kids into college and through college 100 debt free not only am i talking about scholarships grants for classes you need to be taking but i'm also teaching them what's the secrets behind preparing for the act and the sat and how you can get those scores up and what are some different ways like community college trade schools what are the secrets of all of my brand new book debt-free degree go to anthony.com or daveramsey.com and order your copy today step one one thousand dollars to start your emergency fund step two pay off all debt using the debt snowball step three three to six months of expenses in savings step four invest fifteen percent of household income in roth iras and pre-tax retirement step five college funding for children step 6 pay off house early step 7 build wealth and give one of the things that makes the dave ramsey show unique from other shows is that we genuinely care about our listeners that's why we are very intentional about choosing our advertisers blinds.com offers high quality window treatments at unbelievable prices and then their customer service is truly unbeatable they make it simple to shop for blinds shades and interior shutters from home with easy online ordering and free shipping right to your door and blinds.com will help you every step of the way just like they've helped thousands of my listeners with free design help by phone and online plus they guarantee the perfect fit go today and take advantage of this week's special offer [Music] [Music] augustus national make a wheel month yup that's the thing i didn't know that wow so i'm going to challenge those of you who don't have a will that's current to knock this out today an easy way to start is with our will preparation checklist it's a free guide that helps you think through the seven things you should consider like guardians beneficiaries and what happens with the little things you haven't thought of like your social media accounts wow i didn't know that huh that's interesting once you have your plan you can drop it into an online will in about 10-15 minutes so here's what you do download our free will preparation checklist by texting will will 233789 that's wheel w-i-l-l-23789 this is an easy way to tell your family that you love them that you care about them and that you want the best for them and you're not leaving them with stress and headaches but reading this man i have a will but inside of my will i don't i don't have um my social media stuff in there that's interesting yeah all your passcodes and your and your um where's your insurance you know your online insurance passwords and all that stuff online insurance what do you mean like if your insurance company if you log in online and here's where all the forms are yeah that's right all those passcodes and social media codes yeah oh no i don't know if i want my wife to have access to my social media [Music] i'm just playing she'll already have access to my social media whenever i get married but as far as i'm being a single person right now that never thought about i never thought about that i understand i never did so hey man that's that's awesome you guys text will w-i-l-l-23789 and if you're a single person you still need a will okay if you um are a person either well i don't have a lot no you still need a will you know you still need a will and i believe it is a it is the hardest thing to do when i did my will i cried because i'm sitting here writing out permission for what my family needs to do when i'm no longer here i did the same thing deciding who's gonna get my kids yeah what songs do i want them to sing at my funeral i mean it's a it's an existential moment it's this reality that it is a hundred percent of us don't get out of this alive it doesn't feel good nope but it's the truth it is the truth and it is needed i didn't even sleep that night i'm like man one day i'm not going to be here and god said you're right and thank you for making that day a better process you want to allow your family to mourn and not be stressed and i have sat with countless couples moms dads brothers children who have had somebody tragically or suddenly pass away yeah take their own life and there is no plan yeah man there's no plan there's no will there's nothing in writing and then family comes out of the woodwork the state gets involved it just devolves into a mess you know let me do this i'm gonna go to a call one of my vision is when i pass which is why i believe the will is so important is that it came into this world crying but i'ma leave this world smiling when i am on my deathbed and i'm looking up at my wife i'm looking up at my kids i'm smiling because i'm not leaving them with bills and benefits i'm leaving them with a will land wealth joy peace and see i had i had a different experience than you did when i finished my will i went home that night and i slept wow like a log are you serious there was something about having life insurance there was something about having a plan there was something about leaving my wife a road map yeah leaving my kids a road map for how they're gonna navigate the world without me yeah and man i had peace i had peace it was good it was good i i felt it make a will make a wheel people again you guys i i and i didn't mean to live on this too long because i mean i'm just like wow it's hard conversation but i'm like i actually feel so much better knowing that if i died as a single person my mom my family they will have peace so text the word will to 33789 let's go out to austin texas and have a conversation with ian ian how can dr dna help uh yeah thanks for taking my call basically my ac on my car went out i was hoping it would just be a refrigerant issue quick and simple turns out it's going to be around fifteen hundred dollars including labor to repair that car it's a valued at a hundred or excuse me uh one thousand dollars and it has like two hundred thousand miles on it um so i'm skeptical or i'm kind of wary about repairing it i was wondering what you guys think should i repair it or start saving up for a new car well you don't need an air conditioner in texas in august come on in don't don't listen to him ian uh what um what kind of car is it man it's a toyota corolla 05 my buddy gave it to me for free so it's like the emotional aspect of it as well oh yeah yeah yeah toyota's a beautiful beautiful car what's your how much debt are you in right now yeah so luckily i don't have any student loans but when i was 19 i did get a contracting position i didn't really understand how taxes worked and stuff then so i am in debt like around three thousand eight hundred dollars to the irs at the moment that i'm paying off okay all right all right that's cool how much do you make ian um right now it should include my bonus i make 20 an hour but i actually don't have that on my budget sheet so without that i make post tax 2 300 a month you made 2 300 a month okay cool how old are you man i'm 22. okay cool all right that's what i want you to do um ian i want you to go ahead and get the car fixed fix the car baby yeah and here's why toyota's is a quality car you're not looking at an engine problem um i drive an acura tl 2011 with about 200 000 miles on it as well i need to put a a brand new um ac situation in my car too so it cost me you know right around 800 to do that as well and so i'm gonna recommend you do the same thing because the engine and the transmission in those cars are actually pretty quality and so spending fifteen hundred dollars now to get that fixed i'm just going to save you thousands of dollars over the next couple of years okay here's another tip that i want to give you to everyone listening right now when you go back could you want this car to last you a long time put synthetic oil into your engine and put premium gas into your tank a lot of people think well to older the car then the cheaper i should go on on the gas that's false think about it as a human being the older you get the healthier you need to eat and so if you really want this car to last you longer you need to put quality a little bit more quality into the vehicle so you're 22 years old you're 3800 in debt we need this car to last you at least another two years so while you're attacking your debt the car is going to last so go ahead and get the ac fix but to prevent any major stuff from happening to your car do what i do in and what i want you to do is to put quality oil go up a little bit you're going to go from 30 to maybe 50 for oil change to get synthetic oil put in the car and then you're going to go from maybe spending 20 dollars on a gallon gallon to maybe 30 35 but it's gonna it's gonna preserve that engine it's gonna give a little bit more fuel it's gonna be healthier for your car and you really get a lot more usage out of that car uh my mom was with me john and she said why are you putting the most expensive gas in this cheap car and i'm like mom because i need it to last do i want to put mcdonald's into me at 60 70 years old do i want to you know just feed me a bunch of i'm saying gas is junk but i want to feed myself the best stuff as i'm getting older so i'm starting it now and a lot of people when i see them doing that with the gas tank you know i was like man just spend a little bit more money so that way your car lasts and last until it just can't last anymore and see i just learned something i don't know a lot about cars i do know that i my wife and i drive two high mileage toyotas and they're gonna last forever and we drove a corolla in yeah anthony that corolla that crawl is still driving oh yeah and it's gonna get passed to somebody else that car will be driven in the apocalypse oh yeah man i took my acura in and it was like man this car is perfect yep perfect i was like what are you doing i'm like well you know what i'm doing you you put synthetic oil in there you know so they're like man you are amazing man listen america the caliber of our financial future will be determined by the decisions you make today i want you to make the right one and make the right one and compound on the right one so that tomorrow it pays off this is the dave ramsey show [Music] people call my show all the time complaining about how awful their timeshares are and i've been saying this for years don't do it what's going on out there that's content allowing this industry to just continue dave it's greed and honestly this isn't going to change until the industry decides to recognize that they have a customer service nightmare because of a terrible product they're not taking care of their of their customers which is why we're flooded with calls every day timeshare exit team is different i mean we we've now have you know almost 20 000 people out of timeshare contracts actual results actual results big deal yes if you need out timeshare exit team is the team the only team that i trust to help you schedule your free consultation by calling 844 999 exit or timeshareexitteam.com [Music] i've been avoiding this question for a while because i don't want to force my opinion on you today's question is what's my thoughts on gambling keep it locked i'll see you right after this intro [Music] i don't think there's nothing wrong and you're not crazy if you're gambling i look at gambling by drinking as long as you're doing it and you are okay with it personally yourself and you're not taking it too far now i don't i don't think there's a problem with it from myself i have never gambled and i do not have a desire to just walk into a gas station spend money to get a lotto ticket that more than likely i'm not going to win anything i've gone to las vegas and i've stepped inside a casino and i've never put even a quarter in the machine because i like my quarters i have friends who will go and spend maybe a hundred dollars and have some fun and there's nothing wrong with that here's my thing priorities if you're out there gambling and you're still behind on bills or you're still in debt but then you want to give a hundred dollars in hope that you'll win a lot to me it just shows me that your priorities are not in place and as a single man that's debt free you know what my priority is is building my money and investing my money so that way i can take my family and my kids across the world i think a stat said that right now there's nearly four million individuals with a gambling problem to me that's scary but again so you you know i'm a christian man are you sinning because you're gambling no are you sinning because you may have one drink and you're not getting drunk no you got to go by your personal convictions you got to go by how you feel for anthony o'neil i just don't gamble i like my money and i don't want to throw it in the trash bottom line i got nothing set connor cut off the camera running on inside see y'all in this video bye [Music] i was moving to a new city by myself and i really needed someone i could trust as soon as i talked to jerry i knew i had found what i needed in a real estate agent jerry listened to me cared about me and found exactly what i was looking for i think in our society the last taboo is money i've gotten used to telling people you know in 2014 i made less than minimum wage our taxable income was less than 23 thousand dollars and i was working like crazy i don't remember exactly how or who told me about the dave ramsey show but the show has been great for me to you know stay on the straight and narrow path everything in our society seems to be pitched at spending more and being okay with being in debt i think the last recession showed many americans how big of a lie that is whenever people have asked me about financial issues i have recommended the total money makeover for them and is a template that can be used by basically anybody no matter what their situation is the principles are foundational i'm a board-certified otolaryngologist head and neck surgeon and what that means is i'm an ear nose and throat doctor when i decided to go into solo practice in 1992 i took out an sba loan it was a line of credit for up to 120 000 i only used 53 000 but bank of america basically calculated my payment as if i had taken out the full amount we're going to be done with the loan in about a third of the time that we should be but in the meantime it's killing us well in the end it turned out to be a huge blessing for us because it meant that we paid off 53 000 in about two and a half years we were so addicted to getting out of debt that we just wanted to continue that and so we aimed our guns at the mortgage and discharged 274 000 over the next six years health plans they just don't pay for services that are rendered you're basically paying thousands of dollars every month to see patients there's that's not exactly a profession and so at the end of 2014 my practice finally went under and that was a devastating time for my family and me it was very humiliating actually because you know when patients hear about a doctor going under they assume that i must not be a very good doctor i took a job on a navajo reservation in the remote desert of new mexico and i was the only ear nose and throat doctor for 80 000 people we obviously started to use our emergency fund to maintain our living expenses and i said to my wife we can't do this forever without going into debt because there was no way i was going to go back into a life of debt again nine months into my time on the reservation i was offered a job at graybill medical group in escondido where i currently work so i see adults and children with ear nose and throat problems there now the total debt is around six hundred and forty thousand dollars i'm wanting to come clean out a credit card that he doesn't know about i'm gonna probably pay student loans for the rest of my life i just don't even know where to begin and i don't know what to do i'm not scared welcome to the dave ramsey show you are not a victim you are the hero in your story you can be intentional about your character you can have money and a career everything just started making sense i was like i'm gonna do this let's hear a debt-free scream [Music] live from the headquarters of ramsey solutions broadcasting from the dollar car rental studio this is the dave ramsey show where america hangs out to have a conversation about your life and your money my name is anthony o'neil co-hosting with with me today is the one and only dr john deloney and we're here taking your phone calls around life around money around pretty much anything these days and times i'm loving uh this new direction dave is leading us down and if you have a question about anything triple eight eight two five five two two five triple eight eight two five five two two five give us a call and we would love to have a conversation um with you anthony i forgot to turn my button on here anthony yeah the call board is lit up but before we go to the calls i got to ask you something what's up you're big into the social medias to the youtubes to the internets you've got a massive social media presence and i'm learning how to do it right by following you the other morning i think it was today or yesterday yeah this article popped up on my feed that you put out there and the title was paying student loans by becoming a sugar baby wow what would you do and this article explores how some students are paying for their education anthony o'neil i come from the higher education space and i've never heard this i need you to be a professor to me i need to go to grad school for a minute help me out what is wait paying student loans by becoming a sugar baby what does that mean you seriously never heard of this in a college space i did not know that kids were thinking that this is a good idea to pay their student loans off so abc wrote article okay they wrote an article around the what would you do series that that that's on tv and it takes on the issue of many college hopefuls and their families are great grappling with um it's how do they pay for college and so what what i am seeing in this area is that older men or older people are going to younger people and saying hey you know will you be my my date and they pay them for that date i don't know what happens you know and the privacy i just don't know this article is talking about how people are paying off their student loans because you have this big pandemic of nearly 1.8 trillion dollars in student loan debt the average student is graduating with 35 000 student loans and i think young people are starting to realize like wow i'm gonna graduate with a hundred thousand two hundred thousand dollars you know let me go on a date with an older individual and allow them to just you know hey hello have a good time with them and then come back home and get paid for it it's it's anthony that's i'm looking at you i know on the radio you can't see my face i i'm just kind of in disbelief i'm in i'm in disbelief too if my daughter ever ever if anyone who i love anyone who i know if anyone ever called into this show and said that they were a sugar baby i would have some words because i have a word for the guy i have a i have a word for that and it's both male and female doing it older and so sugar baby just simply means there's the older individual going down to the 2020 or whoever's in school and and pretty much giving the money is i just have to believe there's a other ways to pay off your student loans b other ways to go to college without getting involved in this madness absolutely i mean we know that there's other ways but i think younger people are looking for quicker ways to get out a bit because of this debt issue which is which is crazy which is to me what kind of morals do you have i i you know what morals is a is is a thing i understand being trapped it yeah maybe it's morals i i want to go even deeper like have more respect for your heart have more respect for yourself yes um now unfair i want to make sure i'm being honest on the show when i when i did my research nothing illegal or nothing that is i would say this isn't prostitution right it's not okay yeah so from what we know from the article no so it's just that simply going out to dinner having a conversation that's it from what this article is talking about but still i'm not comfortable with it my daughter is not doing that my son is not doing that uh my loved ones um are not doing that i just i can't rock with it because i don't i don't trust especially men with that yeah there's there's a massive power imbalance there right yes but the the broader conversation is that we've got to be having yeah is that young people are feeling so trapped yep there you go young people are blindly making decisions with or without the guidance of their family and adults they trust in their life yeah and let's go deeper why are they doing it what's the core route they don't want to be in debt man young people are are nervous they're scared um they're like yo what do i need to do i don't want to graduate college and and have all this over me and have to move back in with my mom and and i have to drive this car i got to ride the bus and i can't enjoy my life what can i do what can i do what can i do and so the core route is like yo i do not want that so what can i do now to avoid that and they don't even know of the stress and the issues that what they do today is going to impact their tomorrow oh my gosh and and it's not safe you don't know what you're walking into and so that is why i have my message on not just student loans but it period here's what you need to do to start a solid foundation so you don't have to worry about graduating with student loans you don't have to worry about not going after your dreams i want young people to go after their dreams and i want them to get it and it's them and you're not doing something that your integrity is questioned you morally feel off safe yeah and you're going home and you can't sleep because you're like you're disgusted about you know the decisions that you've made and i've been disgusted at a young age not because i did something like this but because i i wasn't who i was created to be you know and i'm like man like i felt disgusted having to uh for the prime example is to be out honest with you being a collection agent and i'm over here begging you and harassing you to give you and pay your bill when i'm trying to do the same thing with my stuff you know so i'm like we all can if we have a solid foundation and go down to the core of the problem the core the problem is i'm in debt and i don't want to be in that and i think these young people who are considering this it's because like i don't i don't want i don't want that issue i i don't i don't want that so as a dad of a of a ten-year-old and a four-year-old i need to hear this that kids are making choices to pay off their debt that because i'm not planning yeah or because i'm putting a vision of success i'm putting a vision of prestige into their hearts and minds that is going to cost more money than than they've got than we've got yeah and i need to do a good job at a young age of instilling in them the value of a dollar here's what a free community college looks like let's start saving money together let's come up with college dreams together yeah and to those guys out there that's doing that something's wrong with you there's something wrong with you grow up leave these young people get some friends your own age guys bothers me sick of this this is the dave ramsey show [Music] [Music] i have a wife patty she and i have been married for 29 years and then we have three adult children 26 24 and 21 years of age no grandchildren that we know of as of yet i was willing to do whatever it took to keep us out of bed and to maintain the principles that we had always lived by our kids i think they heard me rail on them about you know keeping expenses to a minimum and trying to save money wherever we could but when i finally closed the office and picked up and moved to the reservation i think they thought hmm looks like he wasn't kidding up until that point they really didn't see anything different happening in their lives but now with their dad 800 miles away in a tiny apartment just off the navajo reservation suddenly they did the storms are going to come but they're not going to kill you and you will get through this i'm happy to tell people because i think it's a valuable thing because we have no debt we didn't lose our home and we didn't lose our cars and although it was a great loss and very humiliating for me to lose my practice i still had our home to come back to i remember growing up my my father uh showed me a letter that came in the mail one day he was completely done with the mortgage after i started my practice i realized what kind of achievement that was and what kind of peace of mind that it brought to him i've never asked my dad directly what do you think about what's going on these last years i know he's proud of me and that means a great deal hello everyone i've got a question for you do you know your net worth you see there's a lot of confusion out there about net worth i mean people think only celebrities have a net worth that's not the case everyone has one but what we have to do is understand how to do this well here's what you do net worth is defined by taking what you own minus what you owe and that gives you your net worth you see understanding this is crucial to you beginning your journey to becoming an everyday millionaire we've got to know the start point but we also have to have a game plan that's why we developed a network calculator it's six easy questions tailored to help you to understand where you are and to know your net worth you can do this and i'm here to help all you have to do is enter your email address to get started people call my show all the time complaining about how awful their time shares are and yet you guys have been really having good success getting people out of their timeshares we have we kind of helped create this industry now there's a lot of exit companies out there they come and they go times your exit team is different i mean we we now have you know almost 20 000 people out of timeshare contracts actual results actual results big deal our guarantee is that if we can't get you out of your time share we give you your money back hey if you need out timeshare exit team is the team the only team that i trust to help you schedule your free consultation by calling 844 999 exit or [Music] timeshareexitteam.com [Music] [Applause] [Music] [Applause] going all the way out to the beautiful beautiful beautiful place of canada we're going to have a conversation with alex alex good afternoon how can dr d and i help hey guys uh thank you so much for what you're doing um here is the problem so like a lot of folks covid turned my life upside down uh i work in restaurants and i was like attacking my debt i owed 34 000 i brought it down to 2025 but now i'm out of a job and i'm finding myself in a bit of a catch-22 because i live with at-risk relatives and the next phase of reopening has indoor dining which there's always case spikes and stuff like that so i can't really go back to work but being out of work is giving me some serious like depression and anxiety right so i really i'm like guys should i find a hole in the wall with like super low rent and and risk us getting shut down again and then i'm stuck with another whole stack of bills or should i just wait it out and deal with my mental health what's your work in uh restaurants yeah i've done everything a chef bartender uh manager like anything really so here's mine here's my question can you do something else are you stuck in the restaurant world i've only ever done this since i was 14. i'm 30 33 now 33. so i want you to step back for a second and say everything that we knew about how the world worked is different now [Music] and this idea of it's just going to finally kind of make its way back to what was is is over it's gone yeah a key example that i got to have a ringside seat to was one of the large revenue drivers at ramsey solutions was financial peace university and when coveted hit they got in a room and said what do we do right now and they started taking one of their main revenue drivers and giving it away the business changed overnight and it's just transitioned right so i tell you that to tell you this i would consider strongly if you've got a good situation if the people in your home count on you um then this may be the moment that you're gonna have to go get a part-time job you're gonna have to do different work um that is something that you haven't done in a long time but that is gonna be it's gonna be what you need to do right now for your new situation moving forward and it may come a time when going back to um the restaurant business the place that you love the place that you know more more likely the place that's comfortable um that might come back around but right now you need to make some money um if you want to jump and get a hole in the wall man go get a hole in the wall but you nailed it your mental health your value your worth man we were made to work yeah i want you to hang on the line and kelly's going to give you a copy of our friend ken coleman's book proximity principle i at least want you to go through the philosophical and spiritual exercise of stepping back and asking yourself not what have i done for the last 20 years what's comfortable to me what do i know but what do i actually want to do what do i have to do right now because the world's changed underneath me and how can i make both my keep my family safe and take care of my bills and take care of tomorrow in a whole new environment love it going out to los angeles california we're going to have a conversation there with ken ken good afternoon how can dr d and myself help hey uh i just had um experience like uh suicide and have a hard time dealing with it step back for a second you just experienced tell me about that um i uh um i heard some gunshots and ran up and you know saw oh man i'm having a hard time talking about this honestly yeah take your time yeah man take it take a deep breath anyway i um i need uh i just wanted some guidance on how to deal with understanding you know why you know suicide happens i had a good friend of mine as well take his life and i just i know it's happening a lot around the nation but uh just wanted to get kind of inside of you know how you deal with that that kind of stuff so i'll get to those questions the i can hear the weight and the hurt in your voice did you see somebody or did you have to deal with the aftermath of somebody taking their life you heard gunshots and you went outside um i was the first one there and uh okay yeah i saw him laying here so that was a rough one i've never seen that so it was really hard to get you know trying to get my head wrapped around all that so yeah number one thanks for calling um the call you made just now is a brave brave call and i want to applaud isn't even the right thing i want you to know that i hear you and i'm with you and i appreciate that number two um i've responded personally to number of those situations and so i've sat in your seat and i want you to know that the things that you saw you are not supposed to see yeah we're not wired to see that stuff we're not supposed to see that stuff and it is devastating and it takes your heart out from underneath you and that's what you're sitting through right now okay um you've got to got to got to this isn't a think about this isn't a process you have to get somebody else around you right now you've got to get somebody to talk about and process what you saw when you saw it how you're feeling and someone who's going to check in on you the next couple of days will you commit to me to do that yeah yeah and it's not a moment ken it's not a moment to be tough it's not a moment to sugarcoat this is a moment you you've been through a trauma you are a first responder you've sat in something that people aren't supposed to see and you have to treat it with that level of um immediacy in that level of um seriousness okay yeah and can let me let me say this too man you asked you asked a question that um i remember when i was pastoring uh for about 10 years of my life that would be the first question why why did they do this why why and let me be honest with you ken i don't care who you are no one has that answer we we can't explain why we can't explain why people die why god allows that to be people to be killed we don't know why someone would want to take that we can't explain that so i don't want you to carry that burden and keep asking yourself why why why why right now you send love up for that family but your number one priority right now is yourself it's your spirit it's your mind and it's your health which is why you have to go and see a counselor when you get off the phone i'ma i want you to give kelly your name number and email address i'm personally going to pay for your first hour because you need to go see someone not today like now because right now what you're doing is you're absorbing all of this in you're asking yourself questions you're looking for answers and some of the things we just don't have answers to and you need to be able to cry you need to be able to scream you need to be able to say what's on your mind in a safe place so that way we can get you back to the day before yesterday we got to get you back there sooner than later well what i want to tell you is uh let me let me add to that uh or let me let me alter that a little bit there is not going to be a tomorrow yeah okay you hear me ken yeah no i'm here there's not going to be a return back to yesterday you saw what you saw you experienced what you experienced and that's going to be a part of you and over time you'll make meaning of it over time it will become a part of you will become a part of the choices you make in the decisions you make but as anthony said this is as serious as serious can get what you saw okay what you experienced and i want to tell you as a community member i'm glad that somebody like you had the courage to go outside and see what's going on yeah okay yeah hang on the lion ken we're grateful for you and when we come back we'll talk a little bit more broadly about suicide about the epidemic of folks taking their life in this country [Music] thanks for calling kim thanks for calling stay on the line man [Music] so what is that consolidation [Music] debt consolidation just means turning a bunch of debts into one giant debt this gives you a lower interest rate lower monthly payment and a simplified payment plan but here's the problem you actually end up paying more and staying in debt longer with these types of loans because in almost every case the terms get extended which does mean a smaller payment but it goes on forever like the universe or grey's anatomy what season are they on 42 oh 15. close enough now i'm debt free but let's say in an alternate universe i have 30 000 in debt okay track with me on these numbers i have a 10 000 loan at percent interest with a two-year term and a twenty thousand dollar loan at ten percent interest with a four-year term my monthly payment on that first loan is five thousand seventeen hang on i messed something up 517 dollars and my payment on the second loan is five to five eighty three that's a total payment of eleven hundred dollars a month now let's say i'm on facebook checking out the latest memes and i see an ad for a debt consolidation company they're promising to lower my payment to just six hundred and forty dollars per month with a nine percent interest rate if you're doing the math at home that's 460 less per month and a lower interest rate well color me intrigued but alas as the great philosopher brett michaels once sagely articulated every rose has its thorn it will now take me six years to pay this off six years turns out smash mouth was wrong all that glitters is not in fact gold although that album did glitter and went gold in fact it went platinum which by the standard set by the recording industry association of america is technically better than gold all that to say i'll end up shelling out over 46 000 to pay off the new loan versus about 40 000 to pay off the original loans which means my lower payment cost me an extra 5600 and took an extra two years to pay off i've got two words for that just no no this conversation always comes back to interest rate you see the rate that comes with the debt consolidation loan is usually set by the lender and it depends on your credit score which we talked about in our last video my point is the interest rate isn't even the problem most of the time after someone consolidates their debt it grows back faster than tim allen's beard in the santa claus it's not about math it's about mindset dave ramsey says personal finance is 80 behavior but only 20 head knowledge so even though your choices landed you in a big steaming pile of debt you can work your way out you just need to see debt differently and get on a plan my favorite plan is the debt snowball dave walks you through it at financial peace university a nine lesson course that's helped millions of people get out of debt you can check it out at fpu.com here's the bottom line a better interest rate or lower payment will treat the symptoms but the debt snowball fixes the problem and now you know [Music] um [Music] if you want to be the best you have to learn from the best there's only one event that has it all thousands of entree leaders 10 world-class speakers three action-packed days next year summit 2021 simon sinek patrick lincione marcus buckingham jim collins craig grochelle christy wright ken coleman john deloney chris hogan and dave ramsey the difference between those who lead and those who don't isn't talented leadership is a choice a choice you make to go first a choice to never settle for good enough a choice to never settle a choice to never stop learning none of it is easy but the answer is simple entree leaders throw back their shoulders and just leave one of the things that makes the dave ramsey show unique from other shows is that we genuinely care about our listeners that's why we are very intentional about choosing our advertisers blinds.com offers high quality window treatments at unbelievable prices and then their customer service is truly unbeatable they make it simple to shop for blinds shades and interior shutters from home with easy online ordering and free shipping right to your door and blinds.com will help you every step of the way just like they've helped thousands of my listeners with free design help by phone and online plus they guarantee the perfect fit go today and take advantage of this week's special offer [Music] [Applause] [Music] the last caller ken i heard some gunshots in his house and he went outside and he was the first guy to show up and find that his neighbor had taken his life and anthony and i wanted to not gloss over that trauma that he experienced that pain that he experienced and the importance of him to go sit with somebody immediately to talk through his situation what he saw people are not supposed to see that and then to begin the healing process it's going to take weeks it's going to take months and he's going to other people in his life and anthony you graciously reached out to support him financially to help him out which is just such a gift he also said the caller ken also mentioned he had a friend recently take his life and if you look on the news if you read the statistics the the suicide rate in this country is just unacceptable yeah it's unacceptable and so anthony mentioned something and then i think it's critical and it's right when someone around you takes their life every cell in the human body has one job and that's to get to tomorrow and get to the next day and get to the next day it will often do things in the short term that won't benefit you in the long term because its goal is to get to the next day right that's why people will smoke because it feels good right now it slows things down for me right now even though it's going to kill me later your body will do what it needs to do right now to get through the day and so when someone takes their life they are overriding every system they have and there are you will never know and anthony said this and and i want everyone to hear this you will never be able to fully get inside the heart and mind of somebody who takes their own life and wearing that on yourself is unfair to you that said there are extraordinary researchers like dr schneiderman like dr thomas joyner um that that put out some of these ideas um why would somebody get to that place and there's things like hopelessness there's things like belonging i don't belong anywhere there are are ideas towards a perceived burdensome people are worse off because i'm here and then there's this idea of practicing i actually have the ability i've got a gun available to me i've got pills available to me so here's a couple of things i want to pass along to folks here's a couple of myths a couple of facts and i pulled these up from my personal notes number one talking about suicide asking somebody hey are you going to hurt yourself does not increase the risk that they're going to do it often people are so relieved that somebody finally saw them for who they are understood them for what they're going through and they just weep they just say yes people who talk about killing themselves are often trying to express this pain that they're experiencing any sort of threat should be taken seriously my students my friends folks i've worked with over the years they know dude don't mess around with oh i'm just gonna kill myself not with the lonely dude because i will call your bluff 100 of the time so often people don't want to die they're just exhausted and they're tired of hurting and they don't see another option somebody mentioned a quote to me one time that suicide's not the problem for somebody who's hurting that's the answer and so we've got to back up and say who in our world doesn't belong who in our world is on the margins who is hurting among us around us if you are hurting if you are sitting in this coveted mess if you are unemployed if you are struggling if you are looking at your debts and you are thinking the people around me would be better off without me i want you to call right now 1-800-273-8255 that's the national suicide hotline [phone] if you know somebody in your life who's thinking about hurting themselves call the number if you are thinking about you know what i'm just would be better off not being here call the number i want you here tomorrow and the next day and the next day suicide's hard we got to start talking about it more and we've got to start talking about it more and we gotta start loving the people on the margins yeah man all right we're gonna go out to jackson tennessee we're talking to peaches peaches good afternoon how are you peaches how we doing we are doing fabulous we're doing fabulous i'm not glad you said something to that guy and directed them in a way to get some help um i know mr ramsey and the team up there as a matter of fact i'm a retired police officer been on for about 33 years so i know what ptsd and other issues will do to your head and you've got to get some hope you've got to get some help yeah thank you peaches thank you how can we help you peaches okay my thing is this i've got friends that are running around here right now with this uh covet 19 situation going on and they're not doing this and they're not doing that they're afraid to go being afraid to go there and i think that's fabulous because wearing masks and socially distancing is helping everybody to stay well but i'm in talking to them and then listening to them it is like a rubber band i literally see that rubber band stretching stretching stretching stretching and stretching what is it going to do this time next year or maybe a little bit later when we have a vaccine and things are getting back to normal that rubber band is going to snap they're going i saw somebody saying that they couldn't wait to get back to uh ross they're gonna do some shopping and they're gonna buy this and thinking about that how do we keep our friends from running off into the ditches hmm that's a great question number one thanks for caring about your neighbors that's so good thanks for caring about your friends and being astute enough to see that man people are not making wise decisions right now or they're getting nervous i love your analogy if it's stretch stretch stretch stretch stretch anthony what do you think you know i think the thing that we really just have to really think about here is that people are going to struggle you know a lot of people have been comfortable um a lot of people are not really making wise decisions financially i agree peaches that we have to be safe you know when you're around a lot of people wear a mask if you have symptoms stay home if you're out social distance as much as possible but at the same time uh you still we still need the economy we still need to work we still need to make some money and so i think right now while being safe about being wise we also still need to be producing um and making some income and so i'm loving that you know we have a lot of young people who are staying home right now and they're while they're social distancing what they're doing is still educating themselves like for example they're taking off financial peace university and um some people are even leading financial peace university and helping people get ready for what happens after this pandemic hits and so i love that peaches uh i to answer you directly i think that what you can do to help is you can continue to be an ear you continue to live by example continue to walk in the light and continue to serve serve serve the best way to get out of our own heads is to get into the hearts and care of other people and this this crisis this year has left a lot of people feeling scared about their money all they know is that they never want to be in this situation again and they don't have any idea where to start right you mentioned it when this thing snaps what people are what are people going to do that's where you can come in a great way that people have served their local communities their churches their neighbors in partnership with ramsey has been to serve as a financial peace coordinator coordinators are everyday folks just like you who walk with people through their proven plan to dump debt to look at that snap rubber band as peaches put it and help put their life back together to save for emergencies build wealth so they never have to worry about this stuff again you don't have to be a a money expert to be a coordinator we take care of all the teaching you can even lead a virtual class if you don't want to get outside and just for leading will give you free ramsey plus membership for a whole year peaches is right we need people in our community to step up and to help and we want to give you the best tools you can to help if you if you are interested in leading an fpu class we would love to have you serve your neighbors in this way as a coordinator you can change somebody's life you can show them the way to take control their money for good no more fear no more sleepless nights so to learn more text lead fpu to 3378 that's lead fpu 33789 and when you lead fpu america hear this you're saving someone's marriage you're saving someone's life you don't know what you're doing but money is a real thing but it's good but it's good this is the dave ramsey [Music] show [Music] let's dive in and talk about what is and what isn't communicating well about money and it just so happens that my favorite show of all time is friends and well this tv show has a lot of great examples about money miscommunication so let's learn from our friends on how to avoid misunderstandings with people in our life about money family not good communication spending your daughter's wedding fund on your beach house and not telling her until months before the wedding remember when monica's parents did that yes what would have been good communication is if monica's parents they couldn't come up with the money to fund the beach house and they should have given her plenty of notice so that she wasn't in a bind relying on that money she needed time to save for herself for her wedding friends not good communication do you remember when chandler goes all out for ross's birthday buying concert tickets a gift and cake and then he springs it on the rest of the friends and expects them to contribute 62 each well what is good communication is that chandler should have sent out an email to all the friends on the front end to see how much they were able to contribute while keeping in mind that rachel phoebe and joey were probably in between jobs and shop for cash like they were the entire season spouses not good communication going behind your spouse's back and asking a friend for a loan like monica and chandler did without telling each other they both asked to borrow money from joey and wanted him to keep the secrets but what is good communication would be talking about your money issues openly with your spouse you guys money fights is one of the leading causes of divorce so it is crucial for you to get on the same page with money i wish i could have told monica and chandler that but to avoid having miscommunication like this make sure you download my six money conversations to have with your spouse just click the link in the show notes [Applause] high health care costs getting you down are you confused trying to navigate the health insurance world do you wish you could find an affordable biblical solution to your health care costs based on new testament principles christian healthcare ministries or chm helps christian families churches and businesses join together as the body of christ to share their major health care costs as a chm member you can go to any doctor or hospital you prefer you aren't bound by an approved health care provider list and all treatment decisions are made between you and your doctor no treatment approvals are ever part of the chm experience for tens of thousands of christians chm is a trusted affordable and biblical healthcare solution and it can be the solution for you as well visit us online or call today to learn more about how we can serve your family church or business christian healthcare ministries 1-800-791 [Music] [Music] chministries.org [Music] scripture and quote of the day comes from matthew 21 verses 42 jesus said to them have you never read in the scriptures the stone the builders rejected has become the cornerstone the lord has done this and it is marvelous in our eyes david brinkley says a successful man is one who can lay a firm foundation with the breaks others have thrown at him oh i like that that's that's goodness yes that will be on my instagram tonight all right let's go to blinds.com question blinds.com's 100 satisfaction guarantee means even if you mismeasure or pick the wrong color it's like they it's like they're getting into my head anthony they'll remake your blinds for free so if you are an idiot and screw it up they'll come behind you and help clean it up blinds.com you get free samples free shipping and with the new promos they run every month you'll save even more use promo code ramsey to get the best deal rules and restrictions apply so today's question comes from anthony in new york he visits daveramsey.com to ask here we go i am 20 years old and live with my mother she does not support me and i send myself to college i try to be a good son but i think she exploits me financially and cares only about herself for example i recently got a sum of money and she broke into my phone and checked my bank account to see the amount she borrowed 700 from me to buy clothes even though i needed it for school i told her no but she threatened to kick me out i am deeply dismayed and cannot afford to move any advice what say ye anthony o'neill this is not a easy answer because i need a lot more details um i i'm not loving the fact if this is true what mother is doing so yeah i want i think she's exploiting me financially she stole 700 from your bank account yeah she didn't borrow call it what it is she stole money from you um when i'm having a conversation with mom listen this can't happen again i mean and and you have to be honest with yourself and just be like hey i need to find somewhere else to go bottom line and uh because you can't stay there if if it continues to happen because that's going to bring on stress and more issues or what you can do is try and figure out how can you lock up your money somewhere else where your mama can't get access to it because i don't see how and this is why i need more information how did you get the money through your phone it looks like she uh got in there and just checked his account and then she somehow is connected to his account um and anthony writes this she does not support me period yeah that's an inaccurate statement anthony she pays your rent you live with her yeah and so she is supporting you and as anthony o'neil just said you're 20 year old man yeah it stinks this is you've got to make a plan to get out when your mom will steal from you even when you say hey mom this is for my education this is for my future when she says i'm going to steal from you you've got to make your next step plans and so like anthony says you got to lock up your phone you got to change your accounts um you've got to make a radical plan to move into somewhere else safe the next six to 12 months you need to be out the house today you need to be planning what the next six to 12 months excess strategy looks like bottom line it sounds like you're in an unhealthy situation um you don't want to jump and move out today you need to make a plan and balance and you got to protect your you got to protect your money got to but as long as you are living in somebody else's house she can charge you rent she can feel like she's got ownership over you yes right wrong or indifferent we can argue that all day long the reality is you're living on her dime you're living in her home she doesn't have a right to break into your account and steal from you but man man sorry to hear that man but you it's gonna be all right next six twelve months you'll be better going out to austin texas we're going to take the last call of the day have a conversation with aaron good afternoon how can dr d and i help hi guys thanks for taking my call um so my wife and i are trying to pay your heel sauce and it looks like we're on track to pay it off in about three and a half years and what we want to do is move up in the house we actually want to build a house and possibly buy about 20 acres and i was wondering if it would be all right to take out a home equity loan once the house is paid off to put towards our new house once the house is complete we're ready to move into that we sell the house that we're living in and pay it off right away no i was just thinking aaron no my first thought in my head was no but i'm gonna let anthony answer it in a little more dignified respectable way i mean he answered it just like i was about to yeah i mean that's debt i mean that's dead erin so why would you pay off debt to go back into debt you know i get it that is it's on your house and it's a it is an appreciating asset but why would you want to borrow against your home you know and everyone says hey you know i'ma get it and then as soon as i get back in the house i'm paid off well here's the truth to the fact nine times out of ten you're not because you're gonna get comfortable you're gonna get into the house something's gonna come up there's no pressure to pay that off you're gonna make the minimum payments and you're gonna put all of your money into the house no if you pay off the house this is what i recommend you doing now do you wanna do you wanna keep it and rent that house out since it's paid off or do you want to sell it and use that equity to go towards your new house what what what's your goal there aaron we're wanting to sell it to move into the new house yes so and yeah why don't you do that right now erin like why wouldn't you do today why wouldn't you just do that today because i want to get the house paid off first and have that that cash on hand i don't i don't want to i don't want to have to start over again because we've been paying on this house for about two and a half years already and so we're just throwing everything at it trying to get it paid off and we want to kind of save up a little bit of money after it's paid off for about a year to kind of help cover all that you know if there's additional cost with the new house yeah i don't fully underst let me try to ask that let me ask you another question because i i'm not getting the math here you owe two years more on your home let's say and you want to pay it off so that you can turn around and sell it so that you can then put that as a down payment on your future 20 acres there in the hill country is that what you're saying yeah so so why don't you just why are you not just skipping the middle man sell the house right now and put that money down on your 20 acres in the hill country uh i guess it's just a country thing knowing that i've got the house paid off because we're not quite ready to move up yet and so i guess just once we got the money you know the the new house well i want to try to make it towards an equal you know how much does the house work how much is that right now it's right now it's just south of 200. how much do you owe on it uh we owe about 160. okay so you're 40 000 all the equity and you are saying but the next two to three years you can have it paid off with 160 right but but you do know eventually you want to upgrade yes okay um your option is is if that's what you want to do that's what you want to do another option is you can sell the house now okay sell the house now and so paying 160 on the house just going ahead and save that and put into an account because the equity difference between now and two years from now is maybe five five six seven thousand dollars maybe depending on how you know austin is doing right now austin texas i don't know if that's what i don't know if that's good enough for you to stay so if you're not ready to go down maybe you can sell the house now get the equity out of the house now go rent something maybe a little bit cheaper and you have enough room for your family but now your payment is going down a little bit lower what's going on a month and you can save all this money to put down towards your new house in the next three to four years and a lot of people do that and to be honest with you aaron i'm even considering doing that because i want my dream home and so i'm considering selling my house now and so this way when i sell it i can on equity i'm gonna go down in house it's just me and my dog and i'm i'm trying to go cheap if i do that so that way in the next two years three years i can go build my dream home and put down a large large large large amount down on the house that that we believe which is going to be much more than 20 my goal is 60 of the house and pay off the house within three to five years so that's what i would definitely recommend hey before we go anthony i want to check in with you one second we talked about some heavy stuff today just want to make sure your heart's clear you feel good i'm good brother all right man that was good i like you bro i want to thank our producer james charles and filling in for our associate may not fill in it and kelly daniel our social producer y'all this has been a great day thank you all so much for chilling with me and dr d this is the dave ramsey show [Music] let's talk about preventing the unexpected 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Channel: The Ramsey Show - Full Episodes

Views: 37,704

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

Id: 15FfJxLIdRM

Length: 173min 59sec (10439 seconds)

Published: Fri Aug 07 2020