Financial Irresponsibility Always Has a Cost

Normal is broken, common sense is weird, so we're here to help you transform your life from the Ramsey Network and the Fair Wins Credit Union Studios. I'm Dave Ramsey, this is the Ramsey Chef. Ramsey personality, number one best selling author is my co-host today. Open phones at triple eight, eight, two, five, two, five.

The call is free and some say the advice is worth exactly what you pay for it.

“Alright, Taylor is in Dallas, what's going on, Taylor?”

Hi, Dave, so I'm calling in me and my husband got married about seven months ago, and over the course of this tax season and gathering all of our documents, unbeknownst to me. He has not paid taxes for 23 or 24 and now 25, and so yeah, kind of a big deal going into where we're going to know something like that. I'm very type A and on top of that sort of thing, I'm a W2 employee into pretty simple

straightforward over year. He's a 1099 graphic designer and so now this year we're in years past, I would get return, we're going to owe a pretty big deal on top of 0ing for 23 and 24 and so I just kind of want some advice on what to do.

I will say first and foremost, the same day I found out I contacted a CPA and we're in

the process of, you know, we finalized 2025 and we're working on 23 and 24, but definitely unexpected, you know, going into a marriage and now having what could potentially be up to a 35 or a $40,000 debt. Wow. Okay, so what does Mr. Creative say about his irresponsibility in lying to you?

Well, he has been a rough couple of weeks, he obviously is very apologetic and in his words it was an intentional, it was kind of in the back of his mind and he knew it was not going to be good but in his mind he didn't realize that it'd been that long since he had paid taxes. That doesn't make me feel better. Makes me feel worse.

Yeah. I like what else is rumbling around in your little mind that you haven't told me about

“and you've forgotten, I think it was important.”

Yeah, that was definitely my first question as well.

The first couple days when I pulled a raft and pulled the iris website, so I could gather

our documents and I realized that it had been that long. Yeah, that was not a good feeling. How long were you, uh, together before you got married? We've known each other for, uh, seven years, we've known each other since college. Okay.

How long were you dating? One off for a while, but about a year before we found I got engaged in that marriage. Okay. Um, well, you did the right thing by getting on the ball and getting a CPA and getting a hold of this, um, it does point to a deeper issue, um, because this all came about as a

result of your diligence and you being on top of things and this was all solved as a result of your diligence and you're being on top of things. Yes. Yeah. So that's where my issue is and that's probably where my conversation would start is,

uh, this is a behavior that won't be able to continue. Yeah. Yeah. How you started that conversation? God, if you want to live.

“Well, here's the thing for being a young married couple, I've been intentional about”

us saving. And so we have a decent amount in the bank right now that once you know that's not the point. That's not the point. That the money here is not the problem. I'm not concerned about that.

You'll put money aside. If you're concerned how we can talk about that. The problem here is my mom used to tell me she'd say the patterns that you allow from the beginning will be the patterns that persists throughout the marriage. That's what she told me.

Right. If you allow things to persist. So for you, this is something that you guys have got a grab hold of immediately and if I were in your shoes, I'd really be kind of searching, searching my memory and searching my heart.

Is there anything else that sounds like this that's been going on to where I'm seeing a pattern? Because if I'm seeing a pattern that I'm really concerned, if this is not a pattern, this is just a concealed incident. That's very different.

I'm probably going to be approaching it a little bit differently. But nonetheless, this is a conversation. Have you had that conversation with him about the behavior, not the money, the behavior? Oh, for sure.

That was the first thing.

Because to me, it's the dishonesty of not knowing that because I would have been vital information. You know, going into things. So we've definitely, definitely had that conversation and I did say it's not something I can just get over in a day, like this takes time because it is kind of a big deal, especially

with the dollar amount. It is, you know, I file every year, I'm on top of this and so to find out that not only are you not W2, which I knew, but to know that nothing's really been set aside with that in mind. So here's where I want to get to if I'm you and him for that matter, or we need to arrive

at, okay, you've already done the tactical things.

filing done. All that's done.

I don't want this to settle into your his mommy and you spend the next rest of your

life bailing this guy out. Every time he is irresponsible or forget something and throws it in the bucket of, oh, I'm a creative. I don't do details. No, I'm going to kill you.

It's not going to happen. So I mean, I'm going to lose it right here. So I, so where I want you guys instead of settling into that rhythm, I want you to settle into a rhythm that says, okay, you're a creative and you don't do details.

“I get that, but you have to get that while you're a creative, you also have to be an adult.”

And adults file taxes, adults take care of business, even if it's not their natural strength. So as long as we both are together on this and we're two adults making decisions about

all the adult things, then together from this point forward, and there's no more deception

or no more eye for God and mommy take care of me, we're not going to run that script out in this marriage. We're going to be two grown people handling our responsibilities within our strengths. And you've gotten natural strengths toward detail and task orientation that he doesn't have.

And that's fine. I have that. My wife is more of the free spirit that we call him the nerd and the free spirit. You're the nerd. He's the free spirit.

I'm the nerd. Sharon's the free spirit. So on, right? So you can accept those things, but that does not give you a pass on emotionally carrying the weight of the household and the making of adult decisions together with me.

You don't get a pass on that. And so as long as we can make, as long as you feel assured, maybe meeting with a marriage counselor a couple of times and you guys get some language to this that you can, that some tools in your belt so that he really grasps what this does to your psyche and that we're

“not going to have a pattern going forward to your point, right?”

I'm good with it. I think you've done everything perfectly, just make sure that we're, okay, that however we got here is gone, we're not going to get here again. And the way we avoid that is the two of us standing side by side, both of our shoulders bearing the weight of being adults and then we make the decisions together.

Then having said that, you know, he's going to have more of a natural tendency towards fun and creativity. You're going to have more of a natural tendency towards detail on task orientation. And that's good. We'll utilize those strengths in executing the plan that we develop together.

Yeah, it's really important. I think a lot of times in the beginning of marriage, you kind of tiptoe around things. Everybody's still trying to be on their best behavior. You don't want to rock the boat. You don't want to, you know, be too strong on certain things.

But actually now is the time to really lean into those issues and try to write, get them right side up early on.

“Yeah, and she's so on it, this is like the pleasant, she's going to be the best thing”

that I've ever heard of in two of them. Yeah, he got, he got lit up and he deserved, he deserved to be lit up. Oh my gosh, Jordan is in Lansing, Michigan. Hey, Jordan, what's up? Oh, you're not up.

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“At eight hundred three five six forty two eighty two.”

Jordan is in Lansing, Michigan. Hey Jordan, how are you? I'm doing better than I deserve. How are you? Just the same.

How can I help? Well, I'm 20 years old. I've got a wife and a baby on the way. No debt making decent amount of money, seven amount of money for a house. What's the decent amount of money?

I'm making about 70 grand. Okay. Does she work outside the home? She is getting her nursing degree this spring. She'll be passing.

Okay.

She maybe said to kid right now, but she's going to like more than you.

Okay. Gobble Blake. Definitely. I mean, a nurse ought to make more than 70, yeah. Okay.

Cool. Good to y'all. Yeah. I'm wondering if it's financially responsible to want to buy a bike before I buy a house. And when I say bike, I mean motorcycle.

I would go with, yes, because it's irresponsible. One of my reasons for just thinking that outright is one is strictly for you and the other is for the wife and the baby and the family and everybody else to live in. And for the future. Yeah.

Yeah. Yeah. I really am asking you as I got a big, big tax return and I was like, man, this is nice. I've got a nice, nice, big chunk of money that I didn't expect coming. Well, for the rest of your life, you will fight between the little boy that lives

inside of you and the man that has responsibilities. Yeah. And the interesting thing is, if the man that has responsibilities wins the fight, the boy that lives inside of you gets to buys toys, meaning you do things in the right order. You'll get to bike someday.

And if it's not out of order and it's out of order, if you do it now. But I can easily see 20 years old, I mean, that's still, but yeah, you got married and had a kid. Hello. And now, you know, so it's just all sudden change, right?

So, and all your buddies, you know, they may not have the same grown-up responsibilities that you've signed up for recently. So, you know, that kind of thing.

“So, that's the environment you're in, but yeah, the truth is, when you're 30, which one”

will you be glad you did first, the house or the bike?

You'd be glad you did the house first. There's 30 year old version. I won't look back at the 20 year old version and go, come on, dude, you know, you know, you know what the 30 year old version talking to you, the 20 year old version of you that way.

Nope. And so, yeah, go get your house, get out of that, build an emergency fund, and buy some toys, and buy her a nice couch or whatever it is she wants, and you guys, you know, but you do that in the right order, you know, we're also not going to spend the equivalent amount on the baby's nursery dressing up everything in the rental house while we're trying

to save up for a home. And so, right. Yeah, if you just go, what would the future version of me want to do? That's the mature side of everyone of us, then I get to do that. And by the way, I'm a guy that's got a pretty good collection of toys today, but I got

them after they didn't matter financially, and my family was more than taking care of, and we were set. So, now when I buy a toy, it's irrelevant to the financial situation. And that's the, the, the, the manly, the grown-up way to do it, but it's, you know, but you're, I'm 65, I still have that guy lives inside of me that fights with the other

guy inside of me, and everybody does, right? That's right. So, it's cool you ask the question, though, that tells me you probably have a clue, like you already knew the answer. Yeah, I'm going to say his conscience was telling him.

He was somebody else to tell him what he already knew. Uh-huh. Uh-huh. We will tell him his wife was going to tell him. We do a lot of that on the show.

I know it. These are people who they already know, and we make good money telling them what they already know. It's kind of ridiculous if you think about it. It's not bad.

All right, bruh.

“Bridger is in Salt Lake City, Utah, high Bridger, how are you?”

And how are you doing? Better than I deserve, how can we help? Well, I'm really married about eight months married, and I and my wife previously got married made to not best financial decisions, but we recently got access to $27,000 through a trust

And just wondering, your guy's an expertise on the best way to utilize that and turn our life

around. Cool. That's a great question. Yeah. Tell us about your current finances, you said he made some mistakes.

What do those look like? So we have two car payments. We got one that is $16,000, and then her car is $20,000, both of those total up to $1000 a month. They both each $500,000.

Oh, yeah. What's your household income? We both make $55,000. So 110? Oh, your total household income is $55.

Correct. What are your careers? She is a receptionist, and I work for my dad. How old are you guys? I'm 20, or I'm 21, she's 20.

Okay, so 16 on a car, 20 on a car, and what else, sinnedette? We did have $800,000 on credit cards, but about a week after we got that trust fund, we paid all of those off. Did you cut them up? Not yet.

No. You got to cut them up. By the time when you get off the phone, get them out and cut them up. Otherwise, you're going to run them back up again. Yeah.

Now, after you paid that out, after you paid that off, now there's $27,000 left, or is that less the credit card?

“Well, that's what it started out, as now we currently have $17.”

Got it. We had to spend $500 on a car repair, and then we already spent $1,000 on our discretionary spending. Got it. Is there any other debt laying around besides the cars?

That's a cool way of saying I just blew $1,000. Descriptionary spending. What are you in Congress? Got it. Well, I think it now, definitely not.

Is there any other debt besides the two cars? That's about it. It's just a two car thing. Okay. Okay.

So we're 20. You guys are 20 years old. Correct. 20 and 21. Okay.

Okay. So there's two things that work here. First off, you guys has income. We got to get it up. Somebody's not working full-time hours, is that you or your wife.

So we're both actually working about 40 hours a week. I've tried and worked 50. Yeah, your job's up. Yeah, your job is not the best, you know, it's not that they could make more. Yeah.

“Should the pay isn't that sufficient on the side or trying to get that up?”

Yeah. But I mean, that doesn't really bring really anything. Okay. Roger, here's the thing. Here's some data points for you from 35 years of doing this.

Okay.

I have never met someone that became a millionaire when they owned cars with payments.

You're getting killed by your cars. You signed up for it, but you're getting killed by your cars. So what would I do if I woke up in your shoes? I don't know if I can talk you into it. But if I can, when you're 30, you have a shot at being a millionaire.

If I can talk you into doing this, if I sell both cars, have no payments. Use the money to pay cash for a couple of $7,000 cars. And buy a boring car, not a cool car. A boring car is one that doesn't have a lot of miles that grandmother drove to church on Sundays only.

And that your friends think you're a goober 'cause you bought it. That's a good, that's a good $7,000 car. Okay, if you buy a cool $7,000 car, I mean, somebody ragged out the Camaro. That's the only way it's worth seven. Okay.

Okay. So you want a Camry and a cord. Stuff like that. I'm serious. A grandma car, a boring but car, pay cash for them, get rid of these two car payments.

And then do what Jade was talking about and let's work on your careers and let's double

your income in the next three years and never have a car payment again.

Because if you do, when you take out a car payment, what you're doing is you're looking in the mirror and saying, Lord, I desperately want to be middle class the rest of my life.

“That's what you're saying when you take out a car payment because that's what the data”

tells us. Well, he's sacrificing so much money if you were to take that money and invest it. What you'd start in car payments will make you a millionaire in 15 years. Oh, yes, oh, if you took that car payment from today until age 61 to 40 years as $8 million my man.

Yeah. Oh, that's stupid money.

But too many people base the decision on opinions or what the market is doing that week.

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“Whole folkies in my age make fun of generation Z and make fun of millennials too.”

There's a percentage of every generation that's completely useless and that includes my generation. My generation, the ones that are useless, we call them hippies. And they're still smoking pot at 70 years old. And so they still get on weed.

But a percentage of every generation is useless and a percentage of Gen Z useless. They're participation trophy collecting, living in their mother's basement, making fun of capitalism with a $1,200 apple phone that their mother bought them. They're useless.

But we also get the most of the generation Z is pretty incredible.

I think it's my favorite generation. I've done this for, you know, since the boomers were the target market, when I started this, I was in my 30s. And so the target market was my generation. And that's who was having little kids and having asking us the same questions we get asked.

And so I've gone through X and Z and millennials and everybody. And this Zs, I mean, think about we had two different 20-year-old collars already this hour. Yeah. Both of them married, both of them making big boy, big girl decisions, both of them

making big girl, big boy mistakes. Okay. We're going to make mistakes. But owning them, coachable, both of them, if they do. And both of them that you did not get to push back.

Sometimes we get to push back. And we all know, all you listening and we know, they're not going to do it. They're not going to do it. They're not going to do it. They're not going to do it.

Those two, though, I think there's a chance both of them are going to do it. And so those two 20-year-olds are probably 30-year-old millionaires because of that one phone call, if they follow through. Absolutely. And that's why we come down here.

“That's why we turn these microphones on, it's for you.”

Absolutely. Those of you that want to listen, those of you that want to do better, those of you that want to win and take the data of the decades of experience that the Ramsey Solutions has, they started with me, but now it's with everybody else in the building. There's a thousand of us, the research, the data, the 30 years of being on this microphone

taking the same phone calls with different little twists and turns to them, but they're still there. And so I'm really excited about what 15 years from now all the Gen Zs look like, because they're a very serious, sober-minded, the one of the good ones. And I think there's more good ones than normal.

Always. Yeah. And they're not who they've been made out to be in the media, that's a bunch of crap. So I'm your biggest supporter if you're 22. If you're using your brain, okay, if you want to plug your brain in, I'm, we're, Ramsey,

we're fans of you. We're not going to put you down. Now you start the other crap out, I'll knock you in the head just like a well-inni generation, right? You start telling me how capitalism is the problem, you're the problem.

So get up off your butt, leave the cave, kill something, drag it home, that's, you know, get a job. There's nothing new about that, that's the same in every generation. So, you know, Donald Trump's not your enemy and Joe Biden and neither, they're neither one of them going to fix your life, look at them, come on, you got to do this.

So all that stuff and, but I just, when we take these calls, I see patterns in these calls coming in like today and it just gets, I just want to share with you guys, observe what we're observing, it's exciting what this nation could look like, what this economy could

thing for their families, generational, think about where their grandkids will be.

That guy, if he takes his car payments alone, he'll have $8 million to $65.

Yes. You put it in the calculator. Yes. Well, we were here. Plugged it in.

What if he does that? Talk about this. Yes.

“And then what if the kids that he raises takes that $8 million in turns it into 80 million?”

Yes. This is changing your family tree. This is what it looks like. And this is the power of God's ways of handling money, of grandmothers ways of handling money. We call it common sense, but it's so rare, it's like having a superpower.

And so we just keep bringing it back to you all the time and we just got to tell y'all, we're fans of you if you're 22 or 25. And this is some of your, one of the good ones, okay? If you're not, then you're not going to like it when you call here because we're going to box your ears like we would anybody else because we love you and we want you to win.

And we're going to get you on track.

This is what we do. Sarah is in Albany, New York. Hi, Sarah. What's up in your world? Hi, Dave.

Thank you for taking my golf. Sure. How can we help? I am calling because my husband and I, um, about two years ago, I was grandmothers. I have when she passed and we were all fired up about it and it was my husband and I

working on it, you know, what we're on to hand together, fixing it. I wanted to live in a house for about 50 years and not a little work with them to maintain it. It is way more than we anticipated.

“And then fast forward to 2025, you know, we had a major structure fire, we're fighting”

with the insurance company in a different property. We lost my daughter. We had a major water break in the grandmother's house. Oh, you just drove you lost your daughter. Oh, you drove by that.

What? A baby? A baby? On your child.

Oh, she's, it was my oldest daughter.

She's grown. Oh, how old are you? 25. Oh, my gosh. I'm sorry.

Oh. Oh, wow. I'm sorry. All of the excitement and drive and, you know, what, baby, you and I can do this. We can fix this house together.

It's not going down. You can be for a case. Yeah. It's. There's no fun left.

All that drive is gone. Yeah. There's a condition of the property today. So when we purchased it, it was technically legally livable. But, you know, all the windows needed to be changed out.

The electrical is not in tubing. The interior was from the 50s. Mm-hmm. But what is the condition of the property today? So today, we replaced all the windows.

The electrical still there. I had replaced a whole bunch of floors and done a whole bunch of painting in there. And then the water break, I mean, I'm talking to a swimming pool now because nobody's living in it right now. So it wasn't caught right away.

And that resulted in most of the interior work that we've done for actually I didn't most of that. What did you pay for the property? We paid 73, 75, but I'm not sure it's just with it. I have an acre and has two parking spaces, it technically has a garage, but it's

sagging off and it's like, question.

“If it went on the market as is, what do you think it could go for?”

What do you think it could list it for? If it went on the market as is, we would probably get like 70 for it. And it wouldn't qualify for traditional financing because-- Yeah, but that's okay. So if you could get 70 for it, you got 70 in it.

Is it paid for? No. Well, you've put lots more in it. Oh, yeah, no, between what we paid for it, the closing costs and the money that we've put into it, we're in it for a little over 100 right now.

Yeah, but the money, do you have any debt on what debt do you have around it? So there's the moment we took for it, it ended up being like 82, I think, for the purchase of the closing costs. And there were 82. And then on top of that, we put about 7,000 on Home Depot Guard, which is all into that

house. And then we put other cash that we had into it as well. But the only cowly lady debt, I was talking about debt, okay. So in debt, you have 82 in seven. Yes.

Okay. And where are you living? Yeah. So we don't live there, we have our primary home, which we still have a market on it as well.

What is it worth? This house? Yes, ma'am. Thank you. Thank you.

100? Yeah. 200,000 here. And what do you owe on it? I mean, it could be more if we fixed it a little bit.

What do you owe on it? About 75 left on it, I want to say. Okay. All right. Well, I mean, you have two options.

your money out of it and sell it.

I would not keep it. It needs to go away. No. No. I would fix it up enough that I could get my 90,000 bucks out of it and lose some of the cash

I put into it and all the effort I put into it. But you're going to have to dig deep to find the energy to fix it up that much. The other options take a complete whipping and probably sell both houses so that you've got the cash to take the whipping. But I really wouldn't do that.

I dig deep and finish get it, at least up to 90 and get where you can at least get the

credit card paid off in the mortgage made up and move on.

And whatever you cash you put in, you just lost and we've all done stupid things and lost money. Welcome to the club. Ramsey, we don't partner with companies chasing trends or pushing gimmicks.

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It's like having one of us walking with you every day, showing you the next right step and holding you accountable. Start every dollar for free by downloading it in the app store or Google Play. Madison is in Pittsburgh. Hi, Madison, how are you?

Let me try again. Hey, Madison, how are you? I'm good. How are you? Better than I deserve.

What's up? So I was wondering if it would be smart for me to move three hours away from where I live now to move in with my boyfriend so that I can build up a clientele where he's at and build my own salon. What's one thing got to do with the other?

“What's moving away got to do with building the salon?”

The area that I'm in right now, there's not as high of a demand because there are so many salons over here and I also don't have the greatest relationship with my family. I would rather be around people that want to be around me, such as the family and him and he is also so that he would help me build what I am wanting to build if it's over there. Okay, so what kind of a salon are we talking about here?

No, I'm now. I do now. Okay. The idea of you going someplace where you can have the business that you want to have, I love the idea of you exiting what might be a kind of a toxic relational environment with your

family. I think that's all great. And if you've identified the right place to do that, I think that's fabulous. What I don't like is you tying up your business, your prosperity with someone that you're not married to because what happens if this guy turns out to not be the guy that you

married, well, now you're tied to him economically, which means if this starts going south, but your business is doing well, you might be less likely to end that relationship because you're economically tied up in it. Yeah, or worse than that, your nail salon takes off really, really slow and so you become financially dependent on a guy you're not married to and he's now controlling the whole

Yeah, even really not a good thing for you, my little sister.

I want you to be a standalone woman with square shoulders and a strong backbone. So we were planning in about a year, a year and a half, we are going to get married. Great. How long have you been dating? A little bit over a year and a half.

Okay. And how old are you, too? I'm 19 and he's 20. Okay. And your nail salon clientail is going to be working in a salon with someone else and they

have the rent and they bring you in and you work for them, but you build up a client base, or you're wanting to start a salon at 19 years old in a strange location where you know

“no one from scratch and build a whole business, which one are you saying?”

So I have a job lined up there for whenever I am out of school and I am licensed which will be around two months from now and I was going to work there for two to three years and then I hope we save up enough money to get out my salon on my own. Good. Very good.

I like that a lot. How can we help you solve the problem to where you can go there? Do what you're saying but do what without living with your boyfriend? So where I'm stuck at is I'm not 100% confident in myself that I'll be able to run and manage my own salon.

No, you're not. You got a job. Yeah. So go take the job. What does it pay?

So it's really just going to depend on how many clients I get. I'm pretty sure it's going to be based off of I'm going to pay rent to rent a chair there and then probably pay a little bit in commission. So there's no base pay at all. No.

Do you have any money saved? Do you have any money to your name? I do. I work right now. I'm a home health care aid for my mom.

I make 1150 an hour and I have about 1,000 saved. Okay. So how are you not going to starve to death when you go take this job on straight commission with no base pay? So I was planning on moving over there and before I get licensed I'm going to it really

just varies on when I'm going to get licensed. I was going to start at a different job and then whenever I have enough saved up to be enough saved up besides my emergency fund to be able to do. I think I know why your parents are problem for you because they're telling you that this is dumb and you don't want to hear that.

It's not exactly that. I just don't.

I've never really had a good relationship with my dad.

My mom fully supports me.

“I just think you need to get yourself in a better spot before you do this.”

This is a nightmare looking for a place to happen. Okay. So you don't have any money and you don't have a job lined up to eat. And so what 100% this screams is, you're going to be dependent on this guy that you're not married to from the first moment you make this decision.

And you don't do that unless you're married, it's not good for you. It's a dangerous, vulnerable situation for you. He kicks you out. You know what you are homeless. Yeah.

Uh-uh. No I'm not going to let anybody I love do that and we love you and we're going to talk you out of it. Okay. And by the way, even if he was the best guy ever, why would you want to put yourself in that

position where you're completely dependent on him, that's, that's not a great thing. Unless you're married. If you're married and he's sure fine. If you're married and he has an income and he wants to support the family while you get

your first and second job going here and all that kind of stuff, that's fine.

But if he's not, then we're just playing house. This is dangerous for you. And there's no reason for you to put yourself in that position. I just wouldn't do it. I don't.

You know, you need a, you need a different set of income, a different set of savings to protect you to allow you to be a standing as a stand alone, grown woman, operating in operating her own home and then be dating this guy or be married to him. Yeah. I don't think y'all want to get married right now because you don't think you're ready

enough. And then I don't want to agree with that. If I were her, I'd probably keep doing what I'm doing and try to get a job at a local salon, save up as much money as I think, you know, I need to be able to make that leap and get my own apartment.

“And if you need to just take a look at your family, but you live in the area where”

they live, that's fine. Yeah. Sure. It's not a big deal. Just set up a boundary.

I'm not going to interact with you, people. You're more on. I mean, you can just, that's fine. You can do that. But I want you to have, you know, some safety for you because when you have to bet

scenario for you. And we get the call when this 19 year old beautiful Madison is 25 and she's living in her car and she calls us because he kicked her out. Oh, and there's a baby now. But there's no, you know, we can't find baby daddy because he's not actually the husband.

And this is a guaranteed way to end up spending the first, the next decade of your life

in poverty. Don't do it. Please, honey, please, please, please don't do this to yourself. So, okay, I don't, the, you have to be able to put, when you're making big decisions,

“you have to be able to put all of the key elements of the decision on a piece of paper”

and look at them and they all have to line up and say, this life changing major decision I'm making, you know, all of these things say it's a good idea. And when we list them down for you, Madison, all of them say it's not a good idea. Well, you have to run it. You have to run it through, not just best case scenario, but through worst case scenario.

You have to look at the worst case scenario.

Absolutely. Well, I mean, best case scenario is you don't have any income. Yeah. You're waiting on clients to walk in the door and you're paying a chair rent. And you're living with him.

And you don't have any income. So, from day one, you are 100% dependent on this guy to eat and to have shelter. That, that's your best case. Yeah. You're just worth way more than that.

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Cbac.com/Ramsie See Store for details. Welcome back to the Ramsey Show. In the Fairwins Credit Union Studio, I'm Dave Ramsey, trade wash, I'll Ramsey personality and number one bestselling author is my co-host.

“This is in Portland, Oregon, hey Alex, how are you?”

Hey, doing good day, how are you? Better than I deserve. How can we help? Yeah, I want to know if I can just invest 50,000 into my retirement account and then just work on retirement minimally for the next 30 years until I retire.

Well, the regulations don't allow you to put it into a 401(k) or a Roth IRA at that sum, that'll sum. So no, you can't do that, but could you invest it? Can you invest it and say in your own mind that particular mutual fund is my retirement account? You could do that, but you can't just randomly add 50,000 to a Roth or a 401(k). Yeah, that's kind of my goal.

How's it right now? You have about 20,000 invested into various 401(k)s and Roth IRAs, I'm about to max out my Roth IRA for this year. I'm on baby stuff number four right now, but I don't have kids and what's your own baby step four, then no, I would not do that.

What's the purpose of you wanting to do it that way? Is that your mortgage, right?

No, actually my mom is, she's going to help me out with a tiny home and I've always kind

of lived under my means. My real goal is just going to travel the world and just really

when she gets into her other years because she's single, so I'm just going to need help. So as of right now, like I said, I have about 20,000 invested and my job is going to allow me to get to that to about 50,000 that I can invest, you know, this year pretty easily. And I guess what my question is, is can I just invest that all into a mutual fund through

“a brokerage account and then just kind of enjoy the next 20 years of my life?”

You could, but it's not enough. Okay. What would 50,000 will create $5,000 a year income? Okay. It's a great place to park the money while you travel, but it's not a solution

to say, and after that I'm never investing again.

I don't mean never investing again. It's just like right now with my job, I work a full commission job, but I am projected to make probably about 180,000 this year. Uh-huh. I'm told it.

I'm 36. Okay. And you're single, obviously. I'm single. Yeah.

Really that free, I just paid off my car and I realized, what do you want to be in debt? I work in home improvement. Okay. Okay. Okay.

You're mathematically not ready to do what your dream is yet. Okay. You're going to have to work a few more years to do that. And so I mean you're making $180,000 a year. If you need $30,000, if you need $50,000 a year to travel, then you need a half a million.

Oh, no, no, that's not what I mean. I'm thinking of just bringing my retirement up to $50,000 dollars. I put the numbers into your website and I'm trying to go over it. And then quit, huh? And then quit and then go travel the world.

No, I mean, I would work periodically. I just want to, you know, take a month off here, a month off there, come back and work. And then, you know, just kind of have the majority of my money go towards traveling and then anything that I don't spend go towards retirement. Right.

The majority of the money that you're earning, not that lump sum. That lump sum is just going to go away forever. Correct. Correct. That's just going to go into my into my broker to count and max out my 401(k) is every

year. Okay.

It's never a bad thing to invest and so investing is a good idea.

It's never a bad thing to have fun. So having fun is a good idea. It's never a bad thing to be generous. As a matter of fact, people that are wealthy and healthy do all three.

“And so, yeah, I think now that I'm understanding your plan a little bit better, I thought”

you said you were, I misunderstood, I thought you were saying I want to put $50,000 a way and never work again and go travel the world. And I'm like, "Yeah, dude, you're going to be skinny." You're going to be skinny. The 180 that you make now, what do you think it'll go down to when you're kind of doing

this plan and working periodically and what do you anticipate that being? Yeah. It's performance based. I mean, I was pretty thin last year and it went down to 80, just because business was slow.

I guess Mark and I was in was a lot slower than what I'm in now. What I know that's fluctuating. What I'm getting at is if it's just you, you're still earning a fine income. I mean, $80,000 while traveling. Is there a way where you can still do some investing and that you're not putting it completely

on hold? Yeah. I'm kind of wondering what a good number to shoot for would be after I hit that, not try to invest that the rest of the 50K. I think it's whatever number allows you to continue to do what you're planning to do,

“but I don't necessarily know that you need to live on 80,000 while you're traveling, maybe”

it's 60. If you make 80,000 and you put 15% of that away and you have an emergency fund and you spend the rest of it on travel and living, you're going to be okay.

Yeah, I've always been minimalists, so I mean, I've spent as little as like a thousand

dollars a month of work that I'm saying, I think you can do both. I don't think you have to say I'm not going to invest anymore. I think that you can continue to do that. So I want you to work enough that you make at least 80 and I want to put 15% away and I want you to take as much time off as that allows you to take off and travel and put

the 50K with a smart vester pro, go sit down with one, go to RamseySolutions.com, click on smart vester, you sit down with a professional investment company that will help you teach you, show you and understand your plan and what you're trying to do. And now that I understand a little bit more, but if you could do that right there, that's a 15% away travel, live minimalist, make a minimum, work enough you make 80, then you're

making more than most people and and you can go travel, have at it, have at it.

have a freaking plan so she has some money, so that she's not a burden in her old age.

There's an idea, man, so I had a really crass friend that was in his 80s and he was a multi-millionaire and he was kind of a jerk, honestly, but he was a friend and but he used to say this all the time, and I don't like it, but there's enough truth to it that it needs to be said. He said, you know what an old man is that's broke, I said no, in the way, he said, "You

know what an old man is, it's rich," I said, "No, he said, Grandpa." I don't like that. Listen to what, you know, one of my goals is to not be in the way. Yeah, I know Grandpa. I don't want to be in the way, man. Listen, he's telling the truth.

“Well, he's crunchy coming, you know, I think Oscar in the trash can, that's how he's”

intrigued, this guy's got that down, but yeah, but still, I'm like, I don't like that,

not everybody but no, people aren't that, yeah, they are.

You don't want to be the burden, yeah, I want to be the one to work my whole life and then be a problem. Yes, you want to be able to be fun. I ended up working in McDonald's at retirement and needs to be the one I own in St. Thomas, you know, they come on, hello, I don't need to be, you know, I'm sorry, I'm not

mad at you, people, but there's no chance I want to be a Walmart grader as my retirement golden years, okay, no chance, I don't mind saying hi to you in Walmart, but I don't want to be paid to do it. Yeah, come on. So, come on, if you're looking for a more budget friendly way to save on medical

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Get started at CHMministries.org/budget and use promo code Ramsey. CHMministries.org/budget and promo code Ramsey. And is in New York City, high-end, how are you? Hi, I'm great, how are you dying? Better than we deserve, what's up?

I love it. So I had a question about life insurance and estate planning.

“My husband and I are in our mid-30s and we have a two-year-old baby.”

I knew that term life insurance was something that we had to get, but I recently got into a car accident. I'm okay, my car's totaled, and that really brought this task of life insurance much more to the forefront. Good.

I'm sorry, I went to the car accident, but I'm glad you're awake. Okay, good. Yeah, yeah, thank you. We've been working very diligently, and they've set two, and we're about like, um, three four months away, all depending on when we get our refund, because we're just going to put

everything to the final debt. So with the term life insurance, should I'm assuming we should be putting that as a line item now? Yes. Probably adjusting.

Okay, right, that next-level chance. So then my follow-up question is, when it comes into budgeting for like estate planning, I know we're going to have to hire a lawyer, draw up a will, and all of that stuff is going to cost more money. You know what?

You might not need to do all that, just yet. You could take the wills quiz that we have, and you might be able to just do one online quickly with Mama Bear, and not get any, not do any lawyers or anything like that. I'm wondering, what's your net worth? Um, I-I can come up $10,000 now.

Yeah, you don't need a lawyer. I don't need a lawyer. I don't need a lawyer. You don't need a lawyer. I don't need a lawyer.

So let me help you. Both things. We can do both things for you. They're both trusted people that we've done business with for years and years and years and years.

They're my insurance agent, Chef Zander is a personal friend of mine.

Okay. And they shop among a gazillion companies to get you the best possible deal on a term policy. Okay. Okay.

And then go to Mama Bear, go to Mama Bear, legalforms.com, and like $70, you can have a will. Okay. That's perfect for you in New York. It all will should be state-specific. And so this is software that will print out a will for you that's for New York.

“You have to feed into it what you want the will to say and then it'll print it out and”

then you sign it and it'll tell you what the proper notary or whatever you have to do in New York is. I don't know that, but some states require a notary witness, some just require a witness, some don't require anything. So you just got to know your specific state and they'll tell you every bit of that.

And it's like $50 to $70, you'll have the whole set of documents. You'll have a full estate plan, you'll have your life insurance in place and you really your budget won't skip a beat. Okay. I love it.

I suppose the follow-up question as well. So Mama Bear and I have combined earnings were about 150 a year, but we have each of a top five businesses that have been doing well and they love it. So I know that once we get past baby set three, then I know we're like we're on track to becoming the baby set's millionaires.

So when our network continues to increase, I'm assuming that the life insurance policy and like the state system of the globe, that's something that we can upgrade, I suppose in a few years. Okay. Yeah, if you start to have a multimillion dollar net worth, you need a lawyer to do your

estate. Okay. Just paying an attorney at that point, if you, unless there's just something super simple about your will and everything, it's okay. You can still do it.

You get out of a $10 net worth and be just fine with a simple will for Mama Bear.

“But if you want to spend a little bit of money at that point, have an attorney look at”

it. That's perfectly fine. Another one with that. And life insurance, you could just add some more policies if you want. Keep in mind, and what you want to buy is 15 to 20-year-to-level term insurance.

And it should be about 12 times your income on you, about 12 times his income on him. And that way if something happens to you in a car accident, God forbid, he could take that amount of money. The 12 times your income and invest it, and it will produce your income without touching.

And so let's just say you made a $100,000, and so he, so you took out a million

two, and he invested a million two, that will create $100,000 of income without touching the million two forever, perpetually. And so that's where we come up with those numbers. And here's the thing. You're in your 30s.

If you're not overweight and you don't smoke, a million dollars, then cost hard. It's the cost of a pizza to get life insurance. And it's just ridiculous if people don't have it.

“So you need to go get your stinkin' list.”

Do the thing she's talking about, and I'm really glad she called, and I'm sorry she had that accident, but I'm really glad it woke her by up, and we said, "Hey, we got to deal with all these things because stuff happens in life." Yeah, she's paying attention, and that's the best thing you can do is pay attention, what's going on, be intentional about making those solutions, and don't wait.

Life insurance is not a baby step, and I think that's the thing to remember. I remember having that aha moment, even back when Sam and I were paying off our debt.

Because the truth is, you do wrestle with it in your mind, you think, "Oh gosh, I'm cutting

in so many areas." Oh, I'm true. I'm true. Yeah. And the last thing you want to do is add something to the budget.

And you really do have to, because you just don't know what tomorrow holds. Wow. This is true. K, it is in Dallas. Hey, Kate.

What's up? Hey, guys, how's it going? Better than we deserve. How can we help? Perfect.

So, we're in a pretty good situation, but my wife and I were having a discussion. I would call it a disagreement, but a difference on opinions. And so, like a disagreement? Oh, we have, I appreciate it. And so, we have about five rental properties, not about five rental.

We have five rental properties and our main property, as well as a good amount. I think, good amount. That's subjective. But about 75K in cash in our bank and about 150,000 in stocks. And so, we were all about paying off debt, but right now we're in a pretty good position

to how this paid off, three houses with mortgages, and then one house with a pretty big mortgage, which is our primary resident and your household income is good.

Yeah, that's good. Very good. Okay.

And what's the balance of your home mortgage?

350. Okay. Cool. And how old are you, guys? 40 and 35.

Cool. You done really well, congratulations. It's fun to have these discussions by, because you got to this point. So if you're asking what I would do, are you? Mm-hmm.

Well, I saw the stock intake at the 75K, that's 2 and a quarter, and I'd put that on that 350 by close-up business today. Okay.

“I'm assuming you have an emergency fund in addition to the 75, right?”

I know, 75's just cash in our pie, so we would, you know, let's just say we need 25 in there for the emergency fund. Yeah, okay. Then put 250. Put 250.

That leaves 150.

And then that brings up the question you were going to ask about whether we sell

one of the rentals. Right? So then the question becomes, so, you know, back in, I've received about 10, 15 years ago, I got into the real estate craze, listen to all the gurus, and I've heard you say before, you know, rentals come with their fair share of bombs, and I have a

fair share of dog-day stories for you, but nonetheless, cannot be on the other side. Okay. Yeah. And all of them are cash flow. Yeah.

Cool and cool cash flow. Okay. So the two that are paid for are what are they worth? Each. 100 and about 150.

Okay. And the other two. And you have three then that have more gages. Correct. Okay.

50, 100 and 150. Again, these are just ballpark numbers. Just small mortgages. Okay. Good.

All right. And is there any of who wants to sell some of the houses to get the that paid off? That would be my wife's. That's just pretty bad into the list of debt free. I like her.

Okay. Yeah. Okay.

“The only question, the only thing we're arguing about is not if we're going to be debt”

free. It's just win. Yes. Okay. Yeah.

Okay. That helps the argument. Okay. Because if the argument is, I'm going to stay in debt the rest of my life. We got a different discussion.

But if it's like, okay, I got a small balances on these things. I got this pile of money. So I can throw 200 at the house. Let's get the house knocked out and then we'll little away on the mortgages on the rentals. And you map that out and you say with a 225,000 dollar income, it's going to take

us four years to do all that. Or if we sell one of them, we can do it in two years or if we sell two of them, we could do it real fast. That's the argument. Right.

So we're arguing about two years or four years or whatever these numbers are, we're really not arguing about the concepts.

“And so I don't want to give up these houses.”

I would rather fight over with it for four years. She's saying I want to be done today if we gave up two of them we could be done today. That's about the numbers roughly. And that's the only argument is what are we going to do with the next four years. And either answer is in the wise column.

So we're not going to call it for you. This show is sponsored by Better Health. Financial stress does not just damage our bank account, it can also take a toll on our mental and emotional health and our relationships. Money worries cause anxiety and they're one of the leading sources of conflict for all

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Ian is in Atlanta. Hi Ian. How are you? Hey, David. I'm doing good.

I appreciate all your help through years of my life and I've helped us out a lot, and after our financial notice, I appreciate all that. Thank you. We found out before Christmas when my father-in-law had fallen into some scams, thousands of dollars.

He actually maxed out all this credit card and he wound up mortgaged in the house to

out the credit card gift, we think he may even now have gone so far as to get our immersed reverse mortgage on the house. Tomorrow he has to go to small claims court and deal with one last credit, about $2,500. The only income he has, legal legitimate income, is his social security. So we're not sure where to help him or to step in and help him at this point.

He hasn't let us not help him, but he hasn't given us a lot of room to help him. But tomorrow he has to go to court and we're just not sure what to do. We can expect Gary and what to do after that, because like I said, this one last dead and all he has is the house and so security, we don't want him to want him to want him to home.

So how old is he? He is 80. Okay.

“How has he been clearing the other, the other debts?”

You said this is the last one. Yeah, the rest of them were mortgaged in the house, he paid everything off, but he missed this one card, he actually wrote him a letter and explained the situation to him and they still moved forward with it. Like I said, he got the letter and the mail that he has to be in court tomorrow for this

last 20,000. Who's the creditor? Do you know? I do not know. Okay.

What are you thinking about? Are you working about? I'm sorry. What state is he in? Georgia.

Okay. Go ahead. I was going to say, what are you thinking about paying the 2,500 for him, is that what's on your mind? No, we're not.

We're not giving them any more money. We've got my wife's, you know, that's her dad, she's helping out them, I'm not entirely sure. But you know, she's doing my most, she's not doing a lot because we know how bad it was. We actually, we actually want to, I took a cell phone, I was paying for a cell phone.

He was supposed to pay for it. We actually went over the house to get funding, so to try not to keep them keep them keeping them having it again. But yeah, we're just trying to find out what he can expect him off in the court. Can I get that?

I only had so security. What can they get? What can they do? Well, to start with, what happened tomorrow is uneventful. You ever been to traffic court for a ticket?

All right. Yeah.

Like the first time you got a traffic court, you're like, "Ooh, I'm going to court."

And then you go in there and it's kind of funny. It's kind of not much to it. It's uneventful. Anti-comactic. You know what I'm saying?

Right. They tell you what you already know. Yeah, that's exactly what's going to happen to him tomorrow. Okay. So these attorneys have entire cases, boxes, and boxes, and boxes, of people that they're

suing tomorrow. They roll them all in on two wheelers. No one comes to oppose them, and they get judgment on all of them in about 10 minutes. Okay. They don't go through them one by one by one by one.

The only one they will pull out is if someone actually shows up. So if he actually shows up, they'll pull it out and they'll talk about it. But they will do nothing because here's the deal. The guy legally owes $2,500, and he has not paid the bill. He will lose the lawsuit.

I got scammed as not a defense. Right. Okay. So he loses tomorrow, and they take a judgment lean tomorrow.

“Now then onto your question, what can they or will they do with a judgment lean?”

98% of the time on $2500, they'll do nothing with it because it's too much trouble. It's not enough to screw with. Okay. But they take the judgment lean if they're in a state where they can garnish. They can clean out bank accounts and they can garnish the wages.

They cannot touch social security in any state. Okay. They could take a lean on his house. But were they to do that in the state of Georgia? And they would have to go through, they'd have to spend $1,000 to $2,000 to do a foreclosure

to collect $2,000, and they end up owning a house, which by the way, has a mortgage on it.

And they get to keep that mortgage, the bank does.

“So the chances that a bank takes on $100,000 or $50,000 or whatever mortgage to try to collect”

$2,500 on a credit card is zero.

Never seen it happen in 40 years.

Okay. They're not going to do it. So they take a lean on the house so that if the house ever sold, they get paid. And they will do that. Okay.

In most states, as soon as the judgment is final, it's an automatically on property that you own. I don't know for sure in Georgia, if it is, it isn't Tennessee. Okay. So it's not as soon as the judgment's final tomorrow, and they recorded it at the courthouse.

His title is now clouded. If he tries to borrow money on the house or try to sell the house, they have to get paid because they now have a lean on the house. But that won't execute on the lean and force the sale of the house. It's not practical.

Not practical. Right. And if as long as his social security comes to an account that is stand alone and doesn't have any other money in it, they can't take the money out of that account because it's so security money.

Right. But if he has, if he's got $10,000 lying somewhere, which he doesn't, based on the story you're told me, but if he had $10,000, he probably would have paid this bill.

But yeah, so basically he is largely what we call judgment proof.

There's not a lot they can do with the judgment because he's too stinkin' poor. Yeah, that's true. Yeah. Yeah. And we're trying to help him, but it's just, yeah, it's, it's, the other thing you've probably

got in these calls before, you know, it's frustrating to hear about other people following these scans and then, you know, the scan was supposed to be here. Well, Dave, he was going to marry Jennifer Aniston. Oh, okay. And he was, you know, getting the buying the Apple gift cards and sending $100,000 here and there, you just--

That bad work, if you're ready. It's hard to. Yeah. Yeah. Yeah, that's, yeah.

Mm. Wow. Romance scan, huh? Yeah. Yeah, and it was one of the big ones too.

So, yeah, I mean, you know, we've heard other people fell into it.

“We just never, I thought, how do you fall into that?”

And then send it to your phone. Yeah, I'm so sorry. Yeah. Yeah. It's hard.

Breaking. But it sounds like the money has gone. It doesn't sound like it's recoverable from anything. And so, my guess is that tomorrow will probably end the drama on the 2,500. Until you all sell the house after he passes away.

Okay. Okay. 'Cause here's how I'm not even going. What's going to do to go. He's right.

He's right. Yeah. You're going to lose. You just walk in there and you're going to lose. There's no-- they can't-- they don't send you to the driving school.

You know, it's not-- it's not that part of traffic court. But you're just-- you're going to lose 'cause there's no defense. There's not a-- you know, there's no fraud or something like that. Commit it. It's not identity theft.

It's not-- he borrowed the money and he signed up for the debt. He didn't pay it, he loses. It's very simple and very cut and dried. And I promise you, there'll be a thousand at least in the-- in these cardboard boxes sitting there.

“And they'll all go bump with one drop of the hammer, right?”

One smack of the gavel and it's over. And it's like a conveyor belt for lawsuits. A lawsuit factory. And it's boring as what it is. But unless you're the one that's all freaked out because of it.

Yeah, so anyway, I-- I think he's OK. I think he's probably in good shape. I can't be 100% sure, but based on what you told me, I don't know of anything that any way they can get to him at this stage

because everything's gone basically.

[ Music ] Rachel is in Baton Rouge. Hi, Rachel. How are you? Hi, Dave. I'm good. How are you? Better than I deserve. What's up?

My question is, is it smart to do a balanced transfer but it's offering a 0% APR for 21 to take care of a portion of a personal loan that my husband and I have. A personal loan to who? It's with a so far loan that we have. Oh, gross. How much is so fast screw in you for?

And what's the interest rate? 12.30 percent. Aren't they helpful? I know how they paid for that stadium now. Okay. 12% on 15,000. What's your household income? Before taxes, 112,000.

Okay. So how fast you're going to pay off the 15? Well, we would like to pay off within a year and a half. That's awful.

“Is there something ahead of it? Is that why it would take so long?”

Like do you have other debt you're attacking first?

We have, we still have a thousand left to pay off on a furniture that we brought. And then we also have a car loan. We have 18,000 left on that. Okay. And then starting back in July. I was going to say the car shouldn't come before the 15,000.

Okay. Our peanut is 6079 dollars. Right. So what we have learned is the fastest way to get out of debt and the most sure way to get out of debt when it comes to everything but the house is to list your debts, smallest to largest pay minimum payments on everything but the little one and attack the little one with a vengeance.

And I mean no eating out. I mean no vacations. I mean nothing scorched earth on your lifestyle and you attack these debts. You make too much money to be this freaking broke. And if I'm you, I'm going to pay all of this off in just over a year.

A year? Yes. But you have no life during that year.

You understand me. And right now you're trying to slow walk this and figure out some interest rate to get you out of debt. There's not an interest rate to get you out of debt. Well, get you out of debt when you get so pissed off that you've been screwed over by so far in the car companies that you attack this stuff with a vengeance.

Are you guys doing anything outside of your normal jobs? Any side hustles, anything to bring in extra money? No, we are. That's the key. I'm telling you.

“That's the key to knock this out because the longer the horizon on this,”

the less likely yard you are to complete it. If you're not attacking this with intensity, it's just going to be, I'm tired of doing this. I've done it long enough. This is, we paid off the car. That's good enough.

You've got to be intense, which means the income that's going towards this debt

has got to be as high as possible. Yeah. And the outgo is nothing. Mm-hmm. I mean, I'm not kidding. Do not see the inside of a restaurant unless you're working there as your extra job.

Because if you did that, if you committed, if you and your husband both said, man, we're both going to do a side hustle. We're both going to bring in an extra two or three thousand dollars a month. Oh, my goodness. So Rachel, here's the deal. Okay.

You can wander into debt. And we've helped more people get out of debt than any other organization in America. We know what we're doing. You can wander into debt, but you cannot wander out.

“You have to get angry about this situation.”

So angry that you become sacrificial in your lifestyle because you want rid of this because it's standing between you and prosperity. It's standing between you and becoming a millionaire. It's standing between you and changing your whole family tree. You got screwed by so far, but you allowed it. You signed up for it.

You got screwed by the car company, but you allowed it. You signed up for it. So no more. Okay. I'm not going to be the person that gets stepped on anymore. And I'm going to punch back so hard that it goes away.

When you do all of that, your question that you called in with becomes almost irrelevant. That's right. Because 12% on $7,000 is not your problem. That's $7,800.

Yeah. That's $800 for a year. $800 does not fix a $30,000 problem. Then you have a card debt, a so-fi debt, and a $1,000 debt that's 30,000 bucks.

And so you've got, you know, and you don't have an $800 problem. You have a $30,000 problem. $2,500 a month for one year and you're done. Now, where are you going to get it?

You don't get it from cutting lifestyle and increasing income and cutting lifestyle and increasing income. And you're going to go so hard that your broke friends think you joined a cult. Now, I don't know if you're ready to do that or not.

I can't make that decision for you. If I could, I would. Because I know that the 10 year or 10 year from now version of you would love you. You're going to, the time is going to pass anyway.

that guy on the radio.

Oh, and here's the other thing.

The faster you get out of debt because of increased income and sacrificed lifestyle, the more likely you do get out of debt. The more you drag it out and slow off. Yeah.

The better the chance is that you just stay in debt forever. And it just becomes normal. Well, everybody's gotten screwed by so far. So we might as well just be like everybody else. Yeah.

And your brain starts to normalize the stupidity that is America today. Yep. And so, and then we've got Gen Z saying I can't afford to buy a house because Congress screwed them with student loans. They're, they're college screwed them with student loans.

Ford Motor Company Lexus Motor Company Toyota Motor Company. Put 'em in $1200 car payments. So far put 'em in 12% personal loans. And we're here to help you with your money. Oh, bull crap.

You're here to help you with my money. It's what you're here to help. We know who you are. And, you know, this is, this is it. And, you know, when you look at Gen Z,

they got record credit card debt, record car loans, record student loans. And then they say, well, I can't afford to buy a house. Well, no kidding. Yeah.

Because you got screwed by everybody in sight.

“And the only thing I would do, if I was Gen Z,”

I'd get really angry about that. And I'd clean this mess up and take these villains out of my life. And say, never again. See, I was 28 when I went broke in American Express called my house. And that's my wife, why she would stay with the man that wouldn't pay his bills.

And she called me crying at the office and said, I was thinking the same thing. I got so mad that I'm 65 and I'm still mad. If American Express calls my house now, it's a wrong number.

Because I'm not going anywhere near anything that freaking company does ever. They screw people for a living. I don't want anything to do with city bank. What's in your wallet? Money, not your crap.

That's what's in my wallet. See, you got to get that thing going like that. That's swagger. And, you know, that's what happened with Jayden Sam. He said, I'm not living like this.

I've had it. I'm done.

“Yeah, you have to get to the point where you're instead of blaming people.”

You're just, you're just mad about it. And you're realizing, oh, the same people that screwed you aren't going to come save you. They're not going to help you. So you have to help yourself. That's the only way.

That's the only way you get out of this. It's the only way. Yeah. When you get twisted up about it and you say, I'm looking around out here.

And none of these people have my best interest at heart. Nope. And including the balance transfer zero percent credit card. No, you know what that is. Just one.

You're not going to pay it off in 20 months. And you're not going to pay it off in 20 months. If you don't change the way you're doing that. And they're just going to send you more offers.

Well, no, they're going to jack you at a 28 percent.

They're going to make so far look like a good deal. Yeah. At the end of 20 months, they're going to hand you a, you know, oh, man, it's going to be bad. It's going to hand you a new piece of paper and you're going to go, I think I got a little throw up in my mouth. Yeah, because I've signed, I did it again.

I signed up with one of these companies. The third's here to help give me a break. They're going to screw you. When you walk into the finance company or the finance office of the car dealer, it should have a sign over the top of it. This says, enter here to get screwed.

“Because that's what they're going to do.”

They're going to jack you up. And it's to their benefit, not yours. All you get out of it is toxic smell from the plastic that's new in the car. And we call it new car smell. It's the plastic that's new and it's toxicity.

Let me help you with this. Welcome back to the Ramsey show. When the fair wins credit union studio, I'm Dave Ramsey. Jade Walshaw Ramsey personality number one best selling author is my co-host today. Cassandra is in New York City, High Cassandra, how are you?

Hi, Dave.

First, thank you for your incredible gift and the wisdom you shared so generously.

Your teachings truly made a difference in my life. Here's your go. I join financial, I join financial teaching firstly, and wipe out $80,000 in debt.

Wow. Crowd of you. Why do you go, kiddo? Thank you. Thank you. But now, I feel torn between responsibility and boundaries.

I have family in a third world country and also family here who are sparkling financially.

I have been helping, but now it feels expected. And they openly talk about what they want me to be for. I feel guilty saying no, but I also worry because they do need the money. How do I help in a healthy way without being taken advantage of or feeling resentful

“and or becoming their financial plan knowing that I'm supposed to give anyway?”

And lastly, I don't appreciate that the privacy and the mystery of where the money is coming from is not there. And therefore, it doesn't feel like I'm giving money. It's more, it feels more like not. It doesn't feel like I'm giving money like a gift, but more like an application. Yeah, that's true.

That's what entitlement does. That's no fun.

Okay, so what amounts of money and how much is state side and how much is in the developing country?

Okay, so my family and Haiti, um... In Haiti? Everything. Yes. Okay.

“We're talking about how much money have you been giving the people in Haiti and who is it?”

Your mother or your dad or what? So my parents live here in the states and I hope them out as well. Okay. We have retired, but they do not have that much money to retire off of. Okay, that's one.

Who's in Haiti?

My brother and my sister and my sibling.

So my brother has five children and a wife. And my sister has two children and her, my nephew just had a baby. And yeah, what kinds of money... Oh, in a years time how much money are you filtering to these folks in Haiti? So sometimes I send like $600 to one, $800 to the other.

I send $400 for the pen because sometimes the kids need to go to school. So if you pay for, I pay for them to go to school and then I pay for food. I also pay, I've been, I'm also working on helping them to come to the states. So that involves applications. So if you had to put a rough estimate, what's a dollar amount that you would say,

yearly, I'm spending this amount of money on Haiti. I would say about like $10,000 or $10,000. Okay, and how about your mom and dad? Okay, so my mother, she, I've been giving her about $400 to $600 a month. But I didn't steal it back off of that because I, I found out that she has been using it appropriately.

What's she using it on? Um, so she, she likes the buy things. She likes to show off to her friend as she has money. Okay, so can we, can we make the statement about everyone involved? A, we love them and we want good things for them.

True? Yes. Okay, B, no matter how much money we give them, it's not going to be enough. Okay. I mean, you could, you could triple what you're giving them.

And nothing will change in their lives.

“And that's why we are working now on getting into the states.”

Yeah, but, and, and that's, so that's a good, that's a sustainable investment. But just throwing $300 into a family of eight and Haiti doesn't even move the needle. You could throw $3,000 in that same hole and it would still go down the hole. So you can't give them enough money to be God. And you don't have that much money.

And so it's, you know, all you're doing is getting aggravated and helping a tiny, tiny bit. But the amount of money you're giving into these situations is not changing their lives. It might feed them for a day. It might help them with their application to come to the states, both of which are good things. But, you know, so if I'm going to give any more money, I'm going to have two different things on it.

Three things on it. One is you're going to be responsible with the money that you have mother. Two, we're going to set a set amount and that's all I'm going to do. Three, I'll help with the applications.

And then think, oh, she's just made of money and I'm feeling used and guilty.

And they're still, and they're still want more. There's no end to it. And so what we've got to do is put a boundary on it, put an amount on it and say, I'm going to give you X per month and I'll help with the application. That's it.

Don't ask for anymore.

“So should I do that? Like, so now what would I now be on the hook?”

Because now like it's up to you. If you don't want to eat the amount of money you can give per month can be zero. But you need to set an amount. And that's for your budgeting purposes. And you need and and for your sanity.

Yeah. Because this has this is like a dog chasing its tail. It's got no end to it.

That's what's driving you crazy.

But it's also expected of me. I don't care what's expected. You get to set the X. You get to decide what's expected. I'm not expected of anything.

Bull crap. You can sit down with me. Let me help you with this. You get nothing. I change my mind.

I'm not giving you any more money. You can do that. That's perfectly okay.

“And you have no reason to feel guilty for that at all.”

Okay. You know how much money I'm sending your family? None. You know how guilty I am about it? Not at all.

Yeah. I'm not obligated. I'm not obligated. I'm not obligated. There's a lot of people hungry.

I'm not there. I'm not Jesus. I can't feed all of them. Okay. I feed some hungry people by as an act of charity.

But not as an act of obligation or guilt. And we do feed hungry people through the Ramsey family foundation. We do that. Okay. But we don't feed everybody on the planet.

We don't have the money. And I feel zero guilt about that. Okay. So you have got, you've got to put this in your head that you're not Jesus. That job's taken.

He already took the job. You can only do a little bit. You do not have the money to be God. You cannot fix their lives. And once you accept that, then you can explain that to them.

And say, I can't fix your whole life. But I can do this much a month. And that's what I'm willing to do. And if you don't like it, I can send nothing. Also, that's a possibility.

If you're a jerk about it. If you don't appreciate it and say thank you a lot. I can give you nothing. That's a total possibility. But in the meantime, I'm willing to do this.

But you're not the Messiah. The jobs taken. When I talk to people on the Ramses show 90% of the problems I hear come down to one thing. Not having a plan. They're not living on a budget.

They have no idea where their money is going. Money is just happening to them instead of them happening to their money. And guys, that is so normal. But it doesn't have to be normal for you.

“And that's why I want you to go download our every dollar budget app.”

Every dollar not only helps you tell your money where to go with a budget. It also builds a plan to free up extra money so you can pay debt off faster and start building wealth. And the best part, your plan is completely personalized to your life. It's the same advice that you would get if you call the show. And it's right in your pocket.

So don't keep living normal. Go download the every dollar app. Answer a few questions and get your plan today. Today's question of the day is brought to you by Why ReFi. If you fall in behind on your private student loans and have stopped making payments, it can feel like every door is closed.

But why ReFi helps borrowers. Explore low, fixed rate, refinancing options to fit your budget. Go to whyreFi.com/Ramsy that's the letter. Why R-E-F-Y.com/Ramsy might not be in all states. Okay, today's question comes from Parker and Tennessee. He says my wife and I move every few years for work.

And we rented homes each time.

Our friends recently bought a house for 1.5 million, which I know is out of their price range.

They said they did an interest-only mortgage. What are your thoughts on this type of loan? It sounds like it's renting a house, but you get the benefits of ownership.

“Would buying a house this way be a smart move for somebody that relocates frequently or should we keep renting?”

So there's two concepts in there. There's the friends who have the $1.5 million house, which that feels like their personal residence. They're not relocating as often as you do. But you're saying, is this a good idea for us since we relocate? And I would say no, under any auspices of the idea is a horrible idea.

And the product is really just what it is. You're only paying interest.

So if you're not paying any of the principal, you're never paying down the mortgage.

So in essence, you're just renting a house. That's really what you're doing for a period of time. So there's no real advantage that I can think of for you to do this. I mean, after the interest period ends, your payment's going to jump up anyway, because you will start paying principal. And you're just paying more interest over time.

It's probably, I gotta believe it's one of the most expensive ways that you could buy a house. And actually, on the short term, owning a home is more expensive than renting. He'd narrow goes out, roof leaks, property taxes go up, homeowners insurance goes up. All of those things, you still got all those things. And if you move and try to sell the house, and you've reduced the principal, not at all, you're likely going to take a loss.

Oh, you have all of this. Between a half and you move. So no, you need to stay away from it. So anything that sounds too good to be true is, and your friends, car parker, are short term thinkers. Yeah, it was a very smart.

They're not thinking long term. There are people that think, thank God, it's Friday, oh God, it's Monday. I want something I want it now, and I'm going to buy it even though I can't afford it. And by the way, the interesting thing is, the difference in a payment on an interest only loan, and a 30 year, which we don't recommend, not much difference.

No, because think about your 30 year mortgage, the first payment you pay has almost no principal reduction.

It's almost all interest. So the payments almost the same. It's not $50 difference or something like that. It's not a lot different. But the concept is way different, because it describes someone who's thinking short term and is immature, rather than someone that's thinking long term.

So the other part of this that I can't help but just call out is, if you said, hey, they bought this house for 1.5. I know it's out of their price range, so I asked how they did it. That's the wrong question to ask. You ask how they did it, so you don't do it. Right, not so you go, oh, they're buying things they can't afford.

Let me figure out how to do it too. Oh, I can buy things I can't afford. Yeah. That's not a great method. Really bad.

Yeah, that was kind of laying there, and I missed it on the page. Mark's in Washington, do you see? Hey, Mark, what's up? Hey, how are you guys doing better than I deserve? What's up?

“Well, so I've got a little bit of a funer question, I think.”

You helped me out in the past about 8 years ago. We were trying to continue to build a new house, and since then, we are 100% that free. Good for you. How's it, everything? Thank you.

How's everything? We're really angry and really focused. Hey, years later, knocked about. Well, I'm glad I was there eight years ago. That's awesome.

It's really cool. Me too, me too. And we're kind of, you know, we've definitely let off the gas. Still focused, still intentional, but still frugal. Good.

And I'd like to take my wife to Italy. And I'm curious as to how much would be a responsible amount of spend on about a 10 day trip to Italy. What's your household income? It's about 200. And what's your net worth now?

Right now, it's probably just north of a million.

Wow. Okay, good for you. That's a nice eight year turn. Okay.

“And how much might you have saved for the Italy trip?”

Um, so we're going to go on the fall. So we're going to work towards taking towards it. But I was thinking, like, for the way that we like to travel, which again is very frugal. I was thinking for Italy probably between like 8 to 10.

I would double that. I mean, you got a price that I would see. I would double that. Okay. You're a millionaire.

You're responsible. You're careful. You make $200,000 a year. Of course you're paying cash for this.

No question.

“And um, $16,000 on a, on a world-class epic adventure”

is not out of hand for you.

Okay. So I put 15 on the budget and say, I mean, you just saved up 15 between now and the fall. And then go do it up right. That's 10 days.

That's, that's still not a lot of money. You're, you're, you're not saying, staying in the four seasons doing that. Mm-hmm. Have you, have you priced anything out?

Have you looked at it? We've looked at flights. Um, I've looked at a couple like Airbnb. Some things like that. Some people have sent me places that, like,

would kind of sit or style. Okay.

And, you know, the house applies because they're like, you know,

it's, it's kind of like going on a trip in the US.

“Like, it's not that bad going over there.”

They're not also going to surprise by that. So. Okay. Um, I've heard you've done over there a couple times. Are there any things over there that, like,

we should definitely see in your opinion? What part of Italy are you going to? [laughs] I want to go, uh, Sicily to Florence, which I told her, hey,

I just looked at the map and it was on too often. Yeah, that's right. Listen, I love Florence in that area. Florence, Pisa, uh, and anything in that area,

I think you're going to, you can't go wrong. Great food, too. Yeah, Tuscan is amazing. Yeah.

“I mean, the food wine scene in Tuscan is off the chain.”

Of course, you've got Florence. He's got the, um, Statue of David. Mm-hmm. It's got, uh, and, and, you know, an hour and a half ways, is the leaning tower.

And so that's all touchable right there. That's all doable. Actually, you can get down to Rome. Rome's full of tourists, everything. Yeah, that's from the car.

From the car. From the car to the Vatican to whatever. Um, and, uh, and, uh, tourists tack. Uh, if you're going to spend a little money, if you're going to Rome,

if you're going to go into the Vatican, and you're going to go into the 16th Chapel and so forth. And you're going to see the museum. Higher a private guide, and you don't stand in line for, uh, two and a half days to get in.

It's, it's, it's a, it's a mile and a half long. And you walk past every bit of it with a private guide and straight in, like you're a naughty rich person and just go do it for sure. And, uh, definitely the way to go. And, you know, that's just a couple things.

But I mean, you know, Rome's full of, uh, things you've read about your whole life and thought about your whole life.

And so it's, it's amazing.

You can stay there the whole time, probably. It just depends on what you want to do. I mean, and what it is you're after, uh, what type of experiences you're trying to, uh, curate in the process. But yeah, you can, you can drop 15k pretty quick over there and,

and still be called frugal. Yeah, absolutely, especially in 10 days. Now, and you did it, Mark. You lived like no one else for eight years. And now you're still young.

And you can live and give like no one else. And so yeah, enjoy this. Plan it out, stay within the plan. And that helps you enjoy it because you're not stressed out about plus than the budget or something.

But you're not being quote unquote irresponsible, not even close. Well done, sir. [ Music ] [ Music ] Listen up, folks.

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Well, we're here to make the latest trends easy to understand and factual. Media and home prices went up a little last month to 403,000. We typically do see that in the spring season because it gets a little busier. Mortgage rates also dipped all the way to 5.43 down from 6.1 that we saw last February.

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or click the link in the show notes if you're listening on podcast or on YouTube. Maria is in Houston. Hi, Maria. How are you? Hi. Thanks a lot for taking a call. I'm calling about my marriage.

And I have been a non-aligned financially. And unfortunately, I knew it before getting married. It's good to be 10 years old and we've been married. And I was still a mom that my daughter was 12. She's a operator.

She was 19 and got married.

But we keep our finances separate.

And she's a favor in the past. I've been a spender and I've worked really hard to get my axe together. And you bought the house cash. She bought the house we've engaged. But he did not put my name on it. And I'm an entrepreneur when I wasn't.

“Whether or not I was very money or responsible for all of the expenses on the house.”

Because she bought the house cash. And I'm now in a place that I don't earn money. Which is good. And a lot of times I've said what you know. Now that you've said it, then I don't people.

Oh, we can have adult conversations. Oh. And as long as I keep my eyes alive and focus on myself. And I'm okay with it. Um, I'm honestly not okay with it.

And every time I bring it up, it calls in a big issue. And so I just return like I'm okay with it. And I know my daughter. Um, things. It's not good for me.

And, um, I don't know. And I know what to do.

And what I'm going to do is I'm going to do it.

And I'm going to do it. And I'm going to do it. And I'm going to do it. And I'm going to do it. And I'm going to do it.

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I'm glad you're still married. And I want you to hear your marriage to heal. But yeah, you guys are going to have to sit down. And you guys are going to have to lay out some milestones, some things that we agree that these things are going to happen.

And these things are never going to happen again.

Right? And we've got our little list of five things that we always do in five things that we never do. And that will include full transparency and understanding where the money is. And I have a vote on the money.

And you never talk to me like I'm not an adult again. And tell me, I'll get to sit at the big girl table. That's so freaking demeaning. It's unbelievable. But you put up with it for 10 years.

So some of this is on you. So you've got to call this. And I recommend you try another round. But I would put very clear expectations in that round of counseling that these things have to occur or I'm not staying.

And if you do stay after that, now it's your fault.

“I think that's what she's struggling with.”

Yeah, you keep staying and nothing changes. And now it's your fault. So if you want to make one more pass at it, you can. And I recommend you try it, but with some very clear objectives. I think we kind of went in sideways and said,

"With this, this just needs to get better." It's some kind of general statement instead of saying, "Here's specific things that must change.

And here's specific things that can never happen anymore."

And those are my conditions. Hey guys, Dave Ramsey here. Every day on this show, we help people work through real money problems. And figure out what to do next. Now, you can get that same kind of help anytime with Ask Ramsey.

Ask your money. And you can get that same kind of help anytime with Ask Ramsey. Ask your money. And you can get that same kind of help anytime with Ask Ramsey.

Whether you're making a decision or just want something explained, Ask Ramsey is here to help. It's fast, simple, and free to use. Go to RamseySolutions.com and try Ask Ramsey today. That's RamseySolutions.com.

[Music] Scripture of the day is Philippians 4A. Finally, brothers and sisters, whatever is true, whatever is noble, whatever is right, whatever is pure, whatever is lovely, whatever is admirable. If anything is excellent or praiseworthy, think about such things.

“Charles Schultz says, "Life is like a ten-speed bike.”

Most of us have gears we never use."

Interesting. This is true. Faith is in Dayton, Ohio. High faith, how are you? How are you?

Better than ours or what's up. So, I'm a single mom. I'm 30 years old and I kind of just started, you know, kind of paying attention to my finances. So, I'm a little late to the game. But I'm on babysitting number two and I'm trying to pay off my debt at the same time.

I want to make sure that I'm saving for my son for his future. So, in my budget, I have been putting a little bit aside, but not much. I've just been putting it into a savings account. And I've heard you talk about, like, 529 accounts and different ways to save.

They sent no of that kind of account.

It's useful for someone who can't put like that much into it every month. Probably not.

“But I wouldn't be putting anything inside for your son right now.”

You are investing for your son by getting yourself squared away. Because as you get yourself squared away and out of debt and build wealth, it's going to benefit him. Yeah. I'm just, I'm the my biggest one.

I'm feeling so much anxiety because I feel like my students are so big. I don't use students. I owe 54,000. Yeah, cool. What do you make of your?

I like 58,000. Don't want. I work for a construction on an admin, like kind of a resistant year. But I just got promoted to salary. So I'm making a little bit more.

And 30 years old in your baby towel. He's four years old. Cool. And where's Daddy?

“He's, I mean, he's in town and struggling.”

He does give me some child support. I don't want to like 400. But I do use a lot about to like pay for childcare. And that kind of thing. That's what it's for.

And you have 58,000 students. What are the debts do you have? I have 15,000 left on my core. And then I just, I have a personal loan for 5,000. I used to pay for a little bit for a lawyer and to like clear off a couple.

I had one week or together. Have you cut up all the records? Yeah. So the credit card is gone. And I've been door-dashing every other weekend when I don't have my son.

And I've been putting everything I make onto that onto that personal loan right now. Great. Very good. Do on the right thing. And anything else you can find in that budget.

You throw it on that too and get it cleared off. Then you get the card cleared off. And then we talk, go after the student loans. So your right was door-dash and a four-year-old and 30-year-old. And making 58 was what you owe.

It's going to be a little while. You're going to take a while. But it's not going to take 10 years. It's just not going to happen in two years. Great.

But you will be amazed when you knock off the car and the personal loan. How much that freeze up your budget to attack the student loan. And then you've probably got another two or three years at that point. Yeah, when you knock out the car, that's going to give you a new lease on life. You're going to feel so good having that money back in your wallet.

Every time you get in that car. And that's going to almost act like a reset for you mentally when you start attacking the student loans.

But let's reset for a second on your four-year-old son.

Okay? Let me tell you about him. He has a mom who is a warrior princess who knows how to fight and scrape and cause things to happen. That's going to help him more than $10 a month being stuck in a savings account. He's watching you live your life well.

Because he'll remember what we went through.

My mom was a single mom and it was tough. And that doesn't kill the kid. It makes him awesome. So he is really blessed. I don't know why it makes me feel like it makes me feel so guilty that I'm not like, you know.

“Well, the best thing you can do for him is not be a problem later.”

Yes. Truly. By cleaning this up and becoming a millionaire. And you actually can do that, believe it or not. Let's pretend that it's five hard years from today and pull up the calculator.

And so 35 to 65 and we say 15% of $65,000. Okay. Five hard years from today, you're debt free and you have an emergency fund. Okay. Student loans and everything.

And that's going to be hard. That's like really watching every penny, door dashing, everything you can do. Hard five years. But you're tough. You can do this five years.

Yeah. And then at 35 years old, you start investing 15% of your income because you have no payments. How much 15%. 15% of $60,000 would be $9,000 a year. Okay.

“And so that's going to, I did a bit a bit of that.”

500 plus two. It's some 150 a month. Okay. Okay. And I do that from 35 to 65 in a mutual fund.

We're going to put in in our calculator right now to see how rich you're going to be. Okay. Faith. Okay. That's $2.3 million.

When you're 65.

So if you invest 15% of your income and you make $60,000 a year and you never get a raise for 30 years.

Highly unlikely. From age 35 to age 65 and you're able to invest that because you cleared off this debt. In the coming five years and you spent five more years of hell. The kid is nine years old when you are debt free and begin investing. All right.

And then when you are at his wedding, you will be a millionaire. Yes. Okay. That's where you're headed. That's where you're headed.

And that's the best gift you can give him. He's not going to be harmed if you don't put a dime in savings for him today. Because by taking care of you, you're setting yourself up to be able to help him in any way you want to later. And by the way, you know, we've been teaching this. I know Dave you've been teaching this long enough that we have people who come and their parents.

Did FPU and their parents walked the baby steps and now the children are standing on stage. And the children are part of that legacy.

And they never come back and say, Oh, it was so hard.

Because my parents walked the baby steps and they didn't even know. I'm never saying anything for me when I was four. They don't say that. They say, I learned how to handle money from a young age. I never got into debt.

And then when I married my spouse, we immediately attacked our house and we became million. My mom taught me how to do hard work. My mom taught me what resilience looks like because she lived it. These are the gifts you're giving him. He's going to have a great life because of you.

And so quit putting money in savings for him. Out of some kind of false guilt that you're not taking care of him. My point is you're taking care of him beautifully. But you've got to follow through on all this. It's not going to magically happen.

There's no genuine a bottle that does it. It's not going to get easy. It's not going to be where there's no trouble. The transmission still going to go out in the tire still going to be low. The, you know, somebody's still going to steal something from me.

It's not going to happen through your life. You can count on all that still occurring. But the point is you've got to have a target and a plan. And when you're working that, you're going to get to a place that you will have taken care of him better by taking care of you. Then by putting $10 a month aside out of some kind of misdirected guilt.

“Like you've done something wrong that you should be ashamed of.”

You're a single mom with a four-year-old near 30. You know, nothing to be ashamed of. Now go get you some girl. This is your time. It's your time.

Go make this happen. And we're going to set you up with everything. All right. We're going to put you into financial peace university. We're going to put you into our every dollar app.

And we're going to pay for all of it and give it to you as gifts because we think you're a hero.

We'll be back with you before you know it. In the meantime, remember, there's ultimately only one way to financial peace. And that's to walk daily with the Prince of Peace, Christ Jesus.