Why You Shouldn't Loan Money To Family

by: The Dave Ramsey Show

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[Music] sacrifice determination you can be intentional about your character you've gotta be on the same page today we're calling to let you know we are debt free house and everything you have done really really really good and you're not gonna quit and a huge witness for us to be able to share that it was time to get serious intentionality people


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yes this is your show America I know it 22 what I know now our life would be better is the show that's changing the world now you don't just listen to the show you live it


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[Music] live from the headquarters of Ramsey solutions it's the Dave Ramsey show where net is dumb cash is king and the paid off home mortgage has taken the place of the BMW as the status symbol of choice I'm Dave Ramsey your host thank you for joining us America we're glad you're here open phones at Triple Eight eight two five five two two five that's triple eight eight two five five two two five well it's that time of year again here in a couple of weeks on the 21st we do our giving shower and your show about giving we commit all three hours of the show to stories of generosity or you have been generous or someone's been generous to you and they make great stories and inspire the rest of us to be generous and live open handedly and certainly we want to remember to do that this time of your Merry Christmas to you so if you have a great generosity story where you are on the receiving or the giving in and you can make us laugh or make us cry and make us be inspired to do more of that why don't you go ahead and email Kelly now and tell her and we'll get you lined up to be on the show we don't tell people what to say but we try to get that show organized and make sure we have enough stories and enough callers lined up on this particular subject ahead of time so just email me at Dave on-air at Dave Ramsey comm Dave on-air at Dave Ramsey comm put giving in the subject line the show will be on December the 21st mark your calendars Robyn is with us and shadow know gonna start off this hour hey Robyn welcome to the Dave Ramsey show hi Dave thanks for taking my call sure okay we're on baby set three and we think we'll have our three month emergency fund by the end of 2019 and we're wondering is what to do after that we own a piece of property that we currently live on in a really cheap mobile home but we want a bit of a house and we need to know we need to pay off the land first before when you save up the down payment or the house or build a house no not necessarily what you'll have to do is get a drawing done and a builder approved to build the house and then you'll be talking to the bank about a construction loan and the construction loan generally we'll take a lien on your land and also pay off your land so it'll all be wrapped it all be wrapped into one and so it helps to have equity in the land to make the deal work but if you don't have any equity in the land that makes it hard but if you get a construction loan that encompasses paying off the land because it becomes your permanent mortgage later C which is all the construction costs on the land cost combined is your permanent loan later and that's what you want to do why is it going to take you a year to save three months of expenses we just have a small income right now my husband is self-employed and the income is going up but it's slow since this business is fairly new and the kids now what's your household income this year it's about 36 mm-hmm still shouldn't yeah you have to save three months of expenses that's all well we still have the payment on the land and we have three kids lyza convictive yeah I've done budgets for thirty years I understand okay but I'm telling you when you your expenses are low your income is low and three months of expenses that in the savings account should not take a year you need to look at your budget and tighten that up and you need to be doing a written budget and he needs to be doing some things to get his income up until his business gets rolling like side jobs or something until he gets this until he gets his income up moving with three kids y'all are starving to death like you said and so he's got to do some other things to add some income to this equation because the numbers are giving me don't work hey thanks for the call we appreciate you joining us Asia is with us in Greensboro hi Joe how are you hi Dave thanks for taking my call sure what's up hey recently seeing that the laws have changed form the 529 plans you can now use that money for like primary school education I understand I'm a single parent I have a son and I get money you know for holidays and things of that nature I just wanted to know your thoughts about putting that money in a 529 and using it to fund his early education years I hopes that his education will be better than the public school system and he'll get scholarships and things like that on the back of it mm-hmm okay there's very little correlation between that between going to a private school and in your and your primary years and being successful in college you really can't find any correlation to that you know if you've got a horrible public school there's a lot of reasons to not be in the public school if that's the case when our kids were little we were in a zone where we didn't want them in that school and we ended up moving to a different zone and and our kids went all the way through public schools and they did just fine so no I would not as a single mom you're trying to eat you're trying to feed your kid paying for college is your primary goal before you worry about going to private schools but if you will simply be the great mom and be very involved in this child's academics and being very involved the parent has as much to do with it as a school where schools have very high scores and really and get credit for being wonderful schools what they have is very high parental involvement almost a almost every time there are very few schools where the parents are uninvolved and the students are highly successful it just hardly ever happens and so teachers yearn for educators yearn for moms and dads to be partners with them to make sure the kids get an education and so in a decent or a good public school you can have that experience just like you can in private school but now as a matter of an investment and doing that before you did other types of investing for instance being out of debt having your emergency fund having your retirement going having the kids college fund going if you had extra money above all of those things and you wanted to just run private school through 529 just because you want to have them in private school for one reason or another that's fine but no we're gonna we're not going to put that way out in front of everything with the idea that that's how the kids getting into going to college because we went to private school there's nothing that a points that will help you cause to help you to believe that thanks for the call open phones at triple eight eight two five five two two five Peter is on Twitter he says Dave do you think I ought to have concealed carry insurance or do you consider it a gimmick I consider some of it a gimmick there you need to read the policies careful if you're a person that carries a firearm and decide if you want to insure through that I'm not against concealed carry insurance I have not personally I do not personally carry it and I carry a firearm at all times I'm almost always armed and so but I've done a lot of training and that's that's better insurance than an insurance policy is learning how to never put yourself in position that you actually have to have a firearm or need a firearm and so that that's more important than you know just worrying about an insurance for you know being a cowboy or some kind of here so no I it's an okay thing to look at I have not personally done enough research on it to where I bought it on me so I can't tell you to do it but I don't I don't think it's a gimmick I think there's probably some situations where it's a good idea to have it if you're going to carry a firearm this is the Dave Ramsey show [Music] [Applause] [Music] hi everyone I'm Chris Hogan did you know 78% of Americans live paycheck to paycheck I want you to think about that think of ten of your friends that means eight out of ten of your friends barely have enough money to get by that means if one paycheck doesn't show up they're in a situation here's the other problem they think that more income will fix everything maybe that's you maybe you're living paycheck to paycheck and you're sure that when the race comes you'll finally get your money in order well I'm gonna tell you right now your income isn't the problem you and me we're the problem the way that we handle our money that's the problem we're hooked on debt but that's not your friend it's a thief it steals from your future but here's the good news you don't have to live that way you can change the game you can start winning with money you just need the right plan and we have that plan is called Financial Peace University and it'll teach you how to save money pay off debt and spend wisely so you can start investing so you can build wealth like crazy over five million people have been through this program and are finally living without money stress and you can too if you follow this plan if you focus and you're intentional it works every single time you can get your money in order you can build wealth and with Financial Peace University you can start today


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step one one thousand dollars to start your emergency fund step two pay off all debt using the debt snowball step three three to six months of expenses in savings step four invest fifteen percent of household income in Roth IRAs and pre-tax retirement step five college funding for children step 6 pay off house early step seven build wealth and give one of the things that makes the Dave Ramsey show unique from other shows is that we genuinely care about our listeners that's why we're intentional about choosing advertisers that we know will serve our listeners wealth blinds.com is no exception for years I've been telling you how amazing these guys are blinds.com offers high quality window treatments at unbelievable prices and their customer service is unbeatable they make buying measuring and installing blinds fun affordable and shockingly easy and if you accidently miss measure or pick the wrong color they'll remake your blinds for free when you're looking for window blinds the only place you need to go is blinds calm with blinds calm you get free samples free shipping and when you use the promo code Ramzi you'll save even more take advantage of this week's special promotional offer when you go to blinds.com and use the promo code Ramsey [Music]


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[Music] hello America and welcome to the Dave Ramsey show I'm George camel thanks for joining us here on our video channel it's a fun Friday today we have three debt free screams and the first one is right here in our lobby and a YouTube fan favorite Ken Coleman Ramsey personality will be stopping by the studio to chat with Dave and a great crowd here today hope you're having a great Friday the Dave Ramsey show is coming back to you right go over the one and right now [Music] Merry Christmas America we're glad you're with us this is the Dave Ramsey shop we're here to help you it's what we do we're hiring a bunch of folks and I had about 200 in the next 12 months give or take that many jobs on the board right now and if you're interested in any of the positions just click the Dave's hiring tab and you can find out all the different things we're hiring for right there on the front page of Dave Ramsey comm we're looking for marketer to join our media team and associate creative director a managing book editor they'll got all kinds of content folks on our team we've got all kinds of Technology folks on our team just met a young man at the break that's in here doing an interview for a project manager role and project manager role so if you're interested in that you're Ruby on Rails you're in sales we've got positions here so check it out we are actually doing work that matters we're actually helping people the phone number or rather the email neither one of those the websites of Dave Ramsey comm click on Dave's hiring on the right-hand tab and it'll give you a full rundown of everything that we're doing and what we need and see if any that matches up with you if you want to come join us here in the Nashville area all right Ilene is with us in Santa Ana California hi Ilene how are you Dave thanks for taking my call sure what's up I am 59 and a half and I just received a layoff notice February 1st I'll be laid off after 29 years mmm that's one and I just was wondering I have a 401k of about two hundred and sixty-five thousand if it would make sense to pay off my condo which is $70,000 left you said your home could be nine and a half okay so you're old enough to do it without a penalty but it would take half of your money seventy thousand I have two hundred and sixty-five well I would take them almost half your money because you have to pay taxes on the seventy two so about a hundred what did you make what do you make fifty one thousand okay so won't you get another job well I plan on it but I was just wondering if if it would make sense to do it since I'm 59 and a half and and you just never know what's out there I haven't looked for a job in 29 years yeah so you might actually you might actually get paid more right you're like you might have be underpaid and didn't even know what this could be a huge blessing I believe it is No so yeah it's like you're gonna lay me off great so how much is the severance six months okay that's good news so if you could go ahead and get a job lined up to start as soon as you're done you'd have like a six-month signing bonus right right and so you don't like 25,000 there I think I want to get this job thing settled before I start cashing out retirement okay I think this question came up because of the uncertainty the fear associated with losing a job I don't think my options you can always do it any time I mean you're just gonna pay your taxes on whatever you pull out right and you could pay off a condo in February you compared off the next February there's nothing forcing you to do it so you're not going to get in the pinch you can just pay it off but the I think I think I would rather you make the decision to do that from a position of strength I probably would pay it off but I'd like for you to get a job before you dead okay I'm going in and pay the taxes yeah yeah you'll pay a little tax on it yeah I probably 25 or 30 thousand something like that yep hey good call and you've got yourself in a good condition congratulations where you don't have to worry about something like this but yeah I don't use up to six months so let's go ahead and land something immediately Holly's with us in Fresno hey Holly how are you thank you yourself better than I deserve what's up I'm calling to give you an idea of my situation counting SSI benefits which is a form of social insecurity as you call it and my work I make about twenty two to twenty three thousand a years I am totally blind so I'm just stating that because it affected my equations and I just started following your plan last month I did my first zero base budget ever Wow good for you thank you until I'm working on okay what way is doing you to learn how to say no to myself like that learning to say no to Starbucks you know


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there's a certain amount using my situation receiving SSI that I have to contribute to the household I'm single but I'm living with my child and I have to contribute a certain amount to household expenses or if they adjust the benefits which of course affects my income and so there isn't a whole lot left over at the month only maybe a couple hundred bucks give or take to save and I'm trying to get this thousand dollars up and what it my question is in my situation where I have good support would it be alright to do the five hundred others accountant yes I we recommend five hundred when you're in a situation like yours we're in a low income twenty thousand and less and you're right around that mark and you've got all these other circumstances that are part of the equation as you said so um yeah I definitely would I would use five hundred as my baby step one and then later on I do want to get you two three to six months of your expenses but your expenses aren't really really high because of your living situation so you're three to six months is not going to be a huge emergency fund and so it's gonna be attainable to is my point when you start reaching for baby step three at that at that point in the process for you so you can do this you can do this I'm proud of you you call me anytime I can help thanks for calling open phones at triple-a eight two five five two two five you jump in and we'll help Kade is with us in Baton Rouge hi Kate how are you how are you better than I deserve what's up I'm 24 years old I just graduated my income is like thirty-two thousand my collection you said you have thirty thousand dollars you have thirty thousand dollars and student loans and collections or in collections yeah both okay all together okay and I'm just trying to get everything started on my bills of like a thousand dollars I'm not for everything mm-hmm and I'm just trying to figure out how can I get the ball rolling okay well the first thing we have to do is have a game plan for every dollar every month that's called the budget and just jump on every dollar the website and download the app it's completely free for your phone and for your desktop whichever way you want to do it if you can do it for your computer or for your phone and it takes about ten minutes let your budget out but basically the way this works Kate is you're gonna put what your income is your take-home pay is at the top of the page every single month a new budget and every one of those dollars once you put that number in there every one of those dollars has to have an assignment a mission a name every month and so the first thing you're gonna buys food second thing you're gonna buy his lights and water third thing you're gonna do is pay your rent and you've kind of got all that totaled up you think that's or that all that stuff's around a thousand dollars but I want you to break it down and track each item so it's not just a lump some thousand dollars as my expenses and I want I want you to every month to look at those expenses and dial down through them then once you've done that any money you can squeeze out of your budget by working extra or by spending less or both you start working start walking through the process of building wealth that we call the baby steps and baby step one is you save a thousand dollars baby step two is you start paying off your debts smallest to largest paying minimum pain I think if I'm in your shoes I'm 24 years old make it 32 grand with $30,000 in debt I'm gonna be looking to pick up some extra work get some extra wood on this fire get some extra income coming in to attack this with and that that's what I would be doing if I were in your shoes and then that will help you run this 30,000 through a lot faster you probably can pay that 30,000 off in between a year in two years but you're gonna be working extra to do that thanks for the call sir this is the Dave Ramsey show [Music]


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so when I was a young sales guy in the real estate business I used to listen to all the motivational speakers and some of them are excellent some of them are really not people you care anything about what they say and later on I've gotten to meet a few of them and have become friends with them and that's kind of neat to get to meet your heroes one of those has got him Les Brown if you ever get the chance to listen to last year I look up some of his talks he's absolutely amazing african-american gentleman he can peel the paint off the walls baby when he's speaking I mean you come out of there fired up absolutely amazing and then later on lesson I actually got to share the stage together in Los Angeles we did an event together there on the same radio station at one time and it's just a great guy but less you know one of the sayings I use all the time is if you're sick and tired of being sick and tired then you're ready to change people to only change their lives when they finally say I've had it that's a Les Brown quote and he used to say something else that if you're gonna win in any area of your life and just generally in your life you have to be not hungry but hungry that was the way he said I like that because it's that a little more visceral right you have to be hungry you have to you have to have this desire to win and you know I'm just reading a book by a friend of mine and Patrick Lencioni the ideal team player when you're hiring team players they need three virtues three attributes that they have when you're hiring them one of them is they need to have this hunger they need to be hungry you got to be hungry man and let me just tell you people that that intellectually want to change things they're think-tank goop's they don't get anything done people that intellectually want to change their lives they don't change anything but when people get viscerally involved their emotions and their soul is speaking they're hungry that's when they change things that's one challenge you do with your money the people who get out of debt the people who are able to build wealth in the culture today that we live in they're everywhere they're everywhere but one of the characteristics one of the virtues they share just like an ideal team player shares this virtue is with our home brain so you can being hungry is a decision it's a work ethic thing but it's a motor that's running down inside of you I will not be denied that kind of a thing happening inside of you and so when you lay out your get out of debt plan when you lay out your budget with your spouse if you're married or not married you lay it out a single when you when you lay out your plan you got to get hungry and hungry means you're gonna do what it takes to win this debt is going down we're gonna amputate the Tahoe we're gonna sell so much stuff the kids think they're next we're gonna put the dog on eBay and the cat on Craigslist I mean there's stuff gonna move around here cuz I'm hungry something's got to change something's got to move my life is not okay I got to change some stuff in my marriage I got to change some stuff in my physical condition I got to change some stuff in the way I attack at work and the way I get things done and the of the level of bring it and ownership I have it work the level of complete a project with excellence and a smile at work the way you do things you got to be hungry man and you know when you do that it changes everything you know I'm not saying you have to be powered up and run around hair on fire all the time but it's a thing down inside it's a hard thing it's not a head thing and people who are high performers in anything in the area of their lives we call them successful they're hungry and you know what you can just decide today to be hungry be hungry starting right now go for it baby that's how it's done the average American household has 286 dollars worth of unused tech and electronics 286 dollars that can go a long way when you're paying off debt don't let easy cash just sit around go to declutter calm declutter is the fastest and easiest way to sell your cell phones and electronics for quick cash they also buy CDs DVDs and books declutter is totally free easy to use go to their site and find out how much your stuff is worth then you pack it into a box and you ship your items for free declutter will pay you the day after it arrives declutter pays the best prices for cell phones and tech up to 33% more than any cell phone carrier now here's the best part the clutter is offering my listeners an extra 10% in cash for your items when you use the code Dave 10 simply visit declutter com that's the e CLUT TR without the second e to get started today [Music] hey folks if you need a little extra Christmas cheer on this Friday I've got good news for you we are giving away $500 cash every single week until Christmas right now at Dave Ramsey comm slash giveaway and a $5,000 grand prize you can enter every single day don't miss that and don't miss a Mikey in shells debt-free scream coming up they're here all the way from Houston cheer them on by hitting that like button and get ready to hear their story [Music] your life is an adventure emotionally you've just been through the wringer you're not afraid of hard work and you have note that everything painful a very very well done you did the hard work and you've done so good you know when you've had it that something has to happen inside of you slow and steady live on less than you make believe that it can happen it does happen every day in America you are the answer God's blessings pouring to and through you are the answer [Music] [Applause] [Music] [Applause] [Music] [Applause] [Music] [Applause] [Music] in the lobby of Ramsey solutions Mickey and shale are with us hey guys how are ya how you doing David welcome welcome where do you guys live Houston Texas all right I love it welcome to Nashville and all the way here to do your debt-free scream yes yes love it how much you paid off sixty-six thousand in nineteen months way to go and your range of income during that time start off at about seventy four thousand and it at about 120 cool what do y'all do for a living I'm a cable splicer for the telephone company mm-hmm I'm a stay-at-home mom all right very cool so how'd you go from 74 to 120 in nineteen months working a lot over time well haha Doty it's a-okay hard work if it solves a lot of stuff what kind of debt was the sixty six thousand two car loans to four okay one for okay one 401k loans one credit card personal loan and one small student loan cool did you sell anything big no sir just paid all off yes sir I tried to sell my truck what she wouldn't let me oh it's better to keep it as huh okay very cool so I tell me your story what happened nineteen months ago they got you started on this so October 31st 2016 I was sitting in the house a rental house that we had and it's got tired of paying rent so I looked at her and said hey I want to buy a house and so start looking online pipe for mortgage wasn't approved in it instantly and couldn't find anything that suited my needs or our needs and so I went about my business for that day and then next day my parents had built a house so I called him up and said hey you know I'm thinking about building a house you know there if you have to do it over again what would you do would you not do so after about 15 minutes conversation with mom I spoke to my dad and he's like well why don't you just pay off all your debt before you buy a house and I said I don't have about 10 years to you know buy a house and he says well did that take ten years and only what are you talking about he says well his goddamn Dave Ramsey and I said no no he says why don't you go listen to his show and call me back in about an hour and I said okay yeah and I just kind of played it off well I didn't listen to the show that day but the very next morning on the way to work I put you on and I started resonating with everything that you had to say got home that day I told her hey I'm gonna I would really like to pay off our debt you know why would this out what we have and and see where we are so I did and the sparkle he didn't live for her just yet I had to kind of work her into it and the way I did that was actually by calling your show and he told me that she didn't need a new car because she wanted a new car at the time and when she heard you tell them tell her that then that's kind of when a spark lit for and how does that work well I said you don't need a new car and that made you happy I don't understand well no it made me happy but what's going on how did that get you onboard well I thought about it like the smart choice was like why would I be in debt for a car like just to drive around to show people I have a car a new car what is it gonna do like I have a car that could be paid off in okay so me challenge and you own it made you just rethink yeah you changed me that day kind of lit a fire under me and okay and it's a good thing that happened because at the time we weren't living in Houston we were living a small town south of San Antonio and we were renting and I'm glad I didn't buy a house because about eight months later I got a transfer back to Houston were originally from Wow and that was in August of 2017 two weeks later hurricane Harvey hit Wow so yeah you're you're that's a good time to not be on in the house right so and and because the hurricane Harvey I made a lot of money worked a lot over time we're 18 days straight 12 14 hours a day any way I could get it I would get it and they're just that core that crush the pressures of death yes sir actually bumped us up we were scheduled to be off our out of debt by November 2018 instead it was June Wow very cool good for you guys yeah well done so what do you tell people the key to getting out of debt what yes I would have to say hard work and discipline and consistency hmm just keep hammering it yeah good very cool who are your biggest cheerleaders outside the two of you uh how to say my mom and dad really truly we didn't tell anybody about it because I made a mistake in the beginning telling some people about it and got a lot of negativity and I just didn't want that and so I just kind of kept it to ourselves and mm-hmm you know now it's like kind of like look at me now moment so yeah now I can show everybody and they can't tell me that it's a fraud because it's not there you go very cool well you did it you did it I'm proud of you very very well done how's it feel to have no payments awesome goes great you can do whatever you want how long y'all been married three years and now you're completely debt-free listen very cool well done and you brought the kiddos with you to do your debt free scream yes who and what are their names and ages yep McKenzie who's eight maddux's two and Mason's nine months all right very cool very cool we've got a copy of Chris Hogan's retire inspired book for you we're also gonna send you a copy of his every day millionaire book in January when it comes out because I think that's your next chapter in your story to be everyday millionaires that is your next thing so they've been practicing their debt free scream yes sir all right very cool all right Mickey and shale and McKenzie and Maddox and Mason Houston Texas sixty-six thousand dollars paid off in nineteen months making seventy four to 120 count it down let's hear a debt free scream three two why


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[Applause] well done very very well done that's how it gets done around here open phones at triple 8 8 to 5 5 to 25 our question of the day comes from blinds.com the number one online retailer of custom window coverings yeah got free samples free shipping and with the new promos that they run every month you'll save even more use the promo code Ramsey and get the best possible deal today's question comes from Ethan in Texas he says Dave I'm starting to look at buying a vehicle to replace my current ride which seems to have an impending death sentence only about $2,000 saved up towards the vehicle at the moment if I would be putting us out of money each month that is roughly equal to a car payment why not just buy the car with a loan what's the benefit of this I currently have no debt and it just seems too convenient not to buy the car and have it right now well that's you know that's what most people do then most people are broke if you stay out of car payments the rest of your life it is one of the key elements one of the key data points that indicates towards building wealth the average car payment America today is 507 dollars a month over 84 months were you to invest 507 dollars from age 30 to age 70 instead of screwing around with car payments you would have from age 13 age 70 you'd have about 5.6 million dollars I hope you like the car all the millionaire's that we interview 90 some odd percent of them have not had a car payment in decades decades they said we're never borrowing money again so if you want to be normal and mediocre and broke keep a car payment your whole life it pretty well mathematically ensures you're gonna be normal and mediocre and broke it takes your money that's what it is and so you're thinking short term save up and pay cash for the car that way you'll own it you're not paying any interest and you're not stuck you don't get four you don't repossessed if you lose your job in the middle something happens you're not pinched you own the car or you don't buy the car anything you can do whatever you want to do but that always seems easy until you have it and then you start figuring out it's hard oh it's not big deal me if I could save two dollars a month why I can't pay turner dollar payment just get the car now that's what that's it but that that's a very short-term thinking mentality and the shorter term you think on things the shorter your vision window is the less likely you are to build wealth and the show is about you know having financial peace two words that don't go together like Airlines service think about it these are words that don't go together and you can make a decision on how you're gonna live and get where you want to get this is the Dave Ramsey show


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[Music] if we are living mediocre average lives it's our fault at any point in our lives that something's not going right we can just decide to change it transforms your life when people wake up and start to get insensible you can change the game your sweet spot does that the intersection of your greatest talent and your greatest passion I want you to focus on your life your marriage on your parenting and not everyone else's leaders bottle integrity model grapes characters for your kids our kids cannot be the bright future if we cannot connect to this after today I'm gonna be a different kind of dad after today I'm gonna look at my retirement differently after today I'm gonna look at conflict in my marriage differently I'm gonna do this different because you become what you think about because at the end of your life you want to look back and say


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we all have smartphones isn't it time for a Smart Plan pure chalk USA offers simply smarter Wireless that covers 99% of Americans stop overpaying for Wireless unlimited plans start as low as $20 per month and include the same great coverage you never pay for any data over cheese in pure chalk USA never turns off your data no contracts no hidden fees no surprises if you're thinking are absurdly low cost means less coverage think again your talk USA operates on the largest GSM network in the u.s. to ensure you're connected virtually anytime anywhere and our 4G LTE network provides the fastest internet speeds like more expensive carriers you can keep your same phone and your same phone number add multiple lines to save 20% off your total bill go to pure Talk USA are and do something smart today unlimited talk and text plans start at $20 per month no contracts no activation fees no reasons not to try come to pure talk USA comm see how much you can save enter this promo code to receive 50% off your first month hey folks I'm here catching up with Mikey and shelling the whole family after their debt free scream how you feeling pretty good now I want to talk to you guys about what's next now that you're dead free what are you looking forward to doing show getting a new car have you dreamed up what exactly what car you want and how much not exactly but I know it needs the third row seat you need that third row seat you all are taking up some space aren't you okay what are you excited about new now you're dead free what do you want she wants everything you got it all right here you have an amazing family isn't that all you need yes sir that's what it's all about folks so just how are you feeling you feel like this is the AG nice end cap to the journey yes I feel free I'm no longer slaves and he's not either he's wailing he's excited he's chewing on a sweater it's Christmas time folks and the best thing to be a Christmas is that free Congrats once again to Mikey and shell [Music] [Applause] [Music] [Applause]


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[Music] [Applause] [Music] [Applause] thanks for joining us America Amy is with us in Chattanooga hi Amy Merry Christmas I mean are you better than I deserve what's up in your world not much my husband and I are currently on baby step number two good and I guess we probably feel a good bit of responsibility for our parents we both lost our fathers at a young age and my mother doesn't handle her finances very well neither does my sister and a few more of our family members and of course when they turn to us and they are looking for money in times of need they you know they come straight to us and ask for and it's hard to say no we're currently you know trying to focus on our own debt and get get those things paid off but we've you know been very open about our success with you know Dave Ramsey and thinking of our you know emergency fund and they know it's there if they know that we have that thousand dollars in our savings if something was to happen they can always turn to us and ask for it no is not working anymore they just don't accept it they you know say there's a lot of things going on and they use my nieces and nephews as an excuse which breaks my heart and of course I want to see those you know my kids my nephew's having you know food on the table you know sometimes they say they don't have money for groceries and we make we have the least income out of all of everybody in our family it's info so let's stop a sign let's stop saying it you're talking mainly about your sister let's just start with her okay yeah she made I think they make more money than you and they don't them going to feed their kids so that's just a half wait a minute stop that's just asinine yeah it's just ridiculous and then has the unmitigated gall to ask you for money and she makes more than you do and then has and worse than that she's a travel agent for guilt trips baby it's gonna be your fault now you're their mother stupid I mean really and so here's the thing here's the thing what's happening is this what the only thing that's going to help you is you're gonna have to get you're gonna have to learn to love her better you don't love her well and you're just a wimp and and what's happening is is the reason your wimp is you think that's being nice it's not being nice you are you are buying crystal meth for a meth addict you're buying her drugs that are going to kill her you are participating in her misbehavior you are not helping her you are harming her you are an enabler does that make sense when you give her money when she doesn't handle money well and she makes more money than you that's the same thing as giving a drunk a drink yeah absolutely and so that the proper way to love her is not make her happy on the short term it's to help her win long term and how is that gonna happen by you giving her money no the way she's gonna win long term is she decides she's gonna be a grown-up and be responsible with the money she has right that's when she's gonna start winning and so here's how it would sound at our house okay sis I love those babies of yours and I love you and I'll do anything in the world for you except bring harm to you and participating in your financial irresponsibility is bringing harm to you and I'm not gonna do it anymore because I love I love you too much to help you continue to be bad with money y'all make two y'all make too much money to be broke so here's what I am going to okay I am going to give you $50 this time this time this is the last time and I'm gonna give you a class called Financial Peace University to learn how to handle money and if you do not go to the class every single class and you do not learn how to handle money do not ever ask me for money again because I will not give you any more under any circumstances I love you too much to buy your drugs and you're gonna have to get there because you're just a sweet person well you're just a tender-hearted kind person and and you you're gonna have to see what you're doing is mean when you're participating in with your sisters and irresponsibility to be mean to her and we can extend the same conversation to your mom and then that'll help you kind of break through the Enable but you know and sometimes people say well Dave that's tough love no that's just love yeah it's not tough love it's like your kid you know your little kid doesn't want brush your teeth honey you have to brush your teeth for two reasons one is we don't wanna smell your breath the second thing is if you don't brush your teeth you're not gonna have any you know and we love you too much to not let you know well I don't want to brush my teeth I don't really care you're gonna brush your teeth because I'm gonna stand here until you do until you learn to do it and until it becomes a habit twice a day for the rest of your dad-blame life and that way you have teeth because teeth are handy they help you get jobs and they help you get married and they help you you know you need teeth right and this is the same kind of thing but does a baby is an eight year old little boy I always want to brush his teeth well I can promise you one hundred percent of the time they don't right it's something you have to make them do for their own good and that's not tough love that's just love it's being a good daddy a good mommy that's all that is and that's all you're doing here is being a good sister I don't want you being mean to your sister I don't want you I don't want you to raise your voice I don't want you to be unkind or sarcastic I was a little bit sarcastic picking out of there a minute ago to try to give you a little strength okay but the truth is but the truth is you just I just want you to sit down be kind to her and gently but firmly just like you would a a little baby you wouldn't ever be mean to a little four-year-old kid but you are gonna make them do what they need to do behavior wise in order to exist in this world all right you're gonna behave in a restaurant you're gonna sit here and you're gonna say yes ma'am and no ma'am and you're gonna behave and because you have to learn self-control little baby and I love you I mean I got these little grandbabies and there's five of them under five which means when they're all at the house and one of them is melting down at all times right it's just all you know because but the wheat do we get mad I don't get madam they're mad some of them have a little temper fit you know spit flying out their head and all this and you know but I'm still but Poppa Dave is not gonna will play that I love you and you're just gonna sit here and you're gonna be kind and you're gonna lower your voice a little bit and we're gonna straighten up here you know and this night you can have that same conversation with your sister and it be a loving conversation but she's not gonna like it school in January and I told her I said you know this is I can't help you anymore I just you know our budget is even tighter than what it was and it's not your job to help her she's a grown person yeah she's got kids it's her job and they got more money you got this is ridiculous and your mom is no better I mean when your same situation your mother just misbehaves all the time and has gotten away with it probably since way back when your daddy was alive yes and he just took care of her none of them knew had a budget and I was the first one to take the step to learn how to budget you know you know you want to think there's a gas station they put ten dollars and I fill it up to the top yes if you want to invest in them you can do that you know put him in the class we'll help you out yeah I'll give you a I'll give you a couple memberships if you want to do it but I don't I'm not you have to call Kelly back after you have these conversations okay okay and tell her I'll put you on hold you can get young connect get phone numbers and everything all fair phone numbers but but you know and if I don't want to go I don't get my membership right you don't either but if they all go I'll pay for it and you and I could help them together but but I'm not sending them any money agree you know I've done this show for 30 years and I've heard some really sad stories here on the air and I've never give a single person here on the air money right and I could have it could the whole stinking Dave Ramsey show could turn into a telethon you know but uh but we're not doing that it's not what we do we're gonna teach you how to fish we don't get fish away and so and that that's what you need to do here the book is called boundaries by dr. Henry cloud and Miss Amy you need to read it it's a wonderful book it'll help you a lot with what you're facing here boundaries by dr. Henry cloud your family doesn't have any and you're trying to put some up this is the Dave Ramsey show [Music] [Applause] [Music] guys let's be real being a parent is hard work now that I have two daughters of my own it feels like the to-do list never ends and if every parent knows your priorities change and you have to make important decisions for your child's future that's my term life insurance is a must for every parent it's so easy to get and it's affordable what you're looking for is 10 to 12 times your annual income to make sure everyone in your family is taken care of Winston and I use Xander insurance they do all the work for you to find the best prices and options so go to Xander comm to get started on a quote today because that's who we trust to take care of our family [Music]


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[Music] everywhere returned we hear negative financial news that everyday people can succeed that the American Dream is dead but is this really true we went on a hunt to see what a millionaire really looks like well welcome everyone I'm gonna ask you a series of questions and if you can answer yes to any of the questions come across the line we hear that wealth is gained through family money or just pure luck how many of you inherited a large sum of money [Music] people believe that only those with an advantage in life can truly be successful if you've had an individual income of 250,000 or more please come forward maybe you think that if you could just get that raise or that promotion it would all work out but what if that big break never comes can people with everyday jobs like teachers and firefighters build real wealth what about the self-employed for the single parents that are doing the best they can to provide for their kids or those who grew up and lower to middle income households do they have the same chance at success or can ordinary people build extraordinary wealth I've got one final question for you how many of you are millionaires


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[Music] all of us are tempted to believe that Newton Aires had a head start or some kind of advantage in life but those are just myths there are everyday people and they're hiding in plain sight and I want you to understand that anyone can become a millionaire no matter what you come from and we want to show you how we've conducted the largest study of millionaires ever and I wrote a book about how they achieved it and the results will shock you what were their habits their behaviors what did they do that most people don't these insights will inspire and challenge you it doesn't matter where you come from you too can become an everyday millionaire this is your invitation [Music] hey guys George Campbell here with another minute money hack now being on camera all the time means I need to be full of energy and by full of energy I mean full of caffeine so I'm here at you guessed its Starbucks today I'm gonna teach you how to live your best Starbucks life and save some caffeine coin now if you're already commenting saying oh won't you just go brew coffee at home and save all the money we'll just skip the comment and go grind your own beans because we got work to do here people so let's get to it for starters make sure your Rewards member rewards that's such a weird word positive rewards there we go you can get free refills on brewed coffee and tea in store a free drink on your birthday and more pro tip I love using the app to order ahead and avoid the line did you know there's an even smaller cup than at all it's called a short when you order a short espresso drink you'll get the same amount of caffeine as at all while paying less just looking for that caffeine boost switch to brewed coffee here's why a tall coffee has more caffeine than a venti latte and it's half the price if you just really need that iced latte fix here's how to get one on the cheap order a double espresso over ice in a venti cup then head over to the bar area and add your own milk bingo you've got your own cheap lot a bonus hack got your dog with you order a puppet Chino and you'll get a sample size cup of whipped cream that your dog will love plus it's super cute to watch oh and remember to tip your baristas well folks and there's your minute money heck [Music] hey folks I'm here in the control room with producer James childs and James you are eating what looks to be like some kind of Asian fried chicken deal yeah it's like General Tso's right now tell us where that came from I don't remember the name of the place but I know it came from our awards team Awards lunch it's one of the perks of working here we do a monthly team lunch as an entire company all of our team members gathered in our conference center and there's always an amazing meal and today's was out of the park I got to say so good we don't really do like much ethnic kind of stuff but today they they took a risk and it was amazing so people just love chick-fil-a but I'm glad we branched out today it's one of the perks of working here and James I quickly want to mention you just released a new remix on your Instagram so everyone go follow him at James child's on Instagram and listen to it because it's it's involves Charlie Brown Christmas which is my favorite it does yeah it's like a bunch of children Christmas songs mixed up with the beat made over it check it out folks comment let them know I sent you I get I guess commissions is that what it is we'll talk about it sacrifice determination you can be intentional about your you got to be on the same page they were calling to let you know we're debt-free how's that every you have done really really good and you're not gonna quit it's been a huge witness for us to be able to share that it was time to get serious intentionality people


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the success this is your show America I know at 22 what I know now our life would be better is the show that's changing the world now you don't listen to the show you live it


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live from the headquarters of Ramsey solutions it's the Dave Ramsey show where Dad is dumb cash is king and the paid off home mortgage has taken the place of the BMW as the status symbol of choice I am Dave Ramsey your host thank you for joining us America we're glad you're here open phones at triple eight eight two five five two two five that's triple 8 8 2 5 5 2 2 5 kt is with us in memphis tennessee hi Katie welcome to the Dave Ramsey show hey hey what's up so it's um glad to talk to you been listening to you for a while and I just wanted to call in and ask a question I'm trying to figure out if I need to take a break from school and pay off some debt maybe get a second job and then go back to school later and just kind of wanted to get some insight on that what are you studying psychology why did you laugh when you said that gold because I'm starting to realize that is not really funny in it and I think it's my passion but what is your that money though what is your passion well I really want to be a licensed therapist but okay little licensed therapist I mean if you if you got your master's and built a practice a lot of make 100 a year that was my original plan but I don't see how that's possible right now one maybe later dollar is one because I made some bad financial decisions and I only make like 29 thousand right now and I'm $30,000 in debt where are you studying University where I'm doing Liberty University online yeah I did that because all the local schools don't do night classes and I work full-time no all right cool so University of Memphis doesn't have any kind of an adult program no they only do daytime classes okay all right hold are you I'm 28 and and you make $29,000 a year doing what I just got a job working at FedEx world headquarters a customer service representative so I start Monday so there honestly there's potential for growth share insurance or for that you're making 29 there with with some upside and depending on what you're doing there and how its structured you may even be able to just take some ot if you could and so what kind of debt is the thirty thousand okay so when I went to school I took out I'm not doing this now but I took out some loans for many Wow which is like twenty thousand and then about three years ago I had epilepsy and I had a really bad spell basically and I was in an animal hospital and that was ten thousand dollars hmm okay so you don't have a car payment I don't have a car payment I paid for my own car and your student loans are not they don't they're accruing but you're not paying anything on them if you're in school right correct okay so are you doing okay now they're stressing you out just sitting there okay and the deal is I don't have enough money right now to I'm short every month I'm taking out my emergency fund to pay for school so I'm just like is this smart you know how much is in your merchants isn't okay so there's 25,000 mm-hmm okay where did that come from my parents passed away when I was teenager and he would be and what were you making it the insurance place before you're making 29 FedEx I was thinking like thirty thousand but the issue is I really couldn't show they liked me I just couldn't produce the sales part I think so I didn't want to stay in it and just catch em cuz I had been in it for like four years but it just wasn't working I wasn't seeing any any growing any and then they let me go if you like no a few times because of my low sells though I figured it may be time for a change writing on the wall okay alright but you're not making more money now you're making about what you were making correct so you're still burning through your emergency fund to go to school right well the first thing is let's name out of the twenty five thousand I would name three to six months of expenses the emergency fund and that would not be twenty five thousand that would be less than that three to six months of expenses and that's your real rainy day fund and we're not really getting into that the rest of this money is you to be used to invest in you and I would use it for education I love the idea of getting your income up to where you can address these medical bills and get them cleaned up how old are those you said as epilepsy and it's how long ago four years I'm sure I could get it down it was originally thirty thousand and I called and debated with them and got it down and I've been doing that off and on for the last three years and I've got it down to ten thousand and I think I could probably get it down even maybe a little bit more yeah I bet if you called and offered him five cash you could probably clear it and use some of your money to do that I would okay lump sum and be done with it not payments then we're down to just student loans that are sitting there waiting on you to graduate and they're gonna just sit there and we're not gonna do anything with them right now and then we're gonna start investing into you I'm not a hundred percent sure you want to be all over the all over this psychology thing because I'm not sure you want to do it I don't mind you doing it if you follow through and you get a degree to get a degree and you've got a plan to get your masters about working and using some of your savings to get there that is a valid goal and you could go for it and do that not getting into your emergency fund but using some of your other savings five thousand if it clears up to ten thousand dollars in debt some of the rest of it is used for tuition and you have a lay out a game plan where I'm gonna graduate by this date by taking these classes at this cost and you just you lay the whole thing as a program and you budget and you go okay now we're am I gonna get that money well I can use this much out of savings no more because I don't get down into the emergency fund I can use this much out of work and I can work extra and I can do this I can take some time off and then go back or you know what kind of a plan can I develop to graduate and get that but I think you need to stop and go why was I getting this degree and is that really who I want to be when I'm 40 I don't mind if you do it but you did not call me up passionate about being a licensed therapist I didn't here passion anywhere in this discussion you were not disappointed about it you were just kind of it's kind of an eye roll well I guess I mean I am passionate about it been fired for it I just struggle so much then fight for it and fight for it the reason you're scared is you don't have a plan you cannot see the end of it you can't see the in the tunnel and so the light looks like an oncoming train but if you'll lay out what I'm talking about you say okay five grand gets rid of the ten thousand dollars worth of medical we're gonna set aside ten thousand dollars for my three to six months of expenses and I never get below that okay that then leaves me ten thousand dollars to start buying some tuition that's not enough so I've got to have some work plans to pay for this but I'm gonna here's where I'm gonna take the classes over this many years here's what they're gonna cost I'm gonna end up having to take that I'm gonna have to quit my full-time job at this point and go do my Master's or whatever it is I don't care but lay out a detailed game plan on how you're gonna fight through this and get there and then you're gonna start getting there I think you can do this you're sharp young lady [Music]


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have yourself Mary Ramsay Christmas let your wallet no credit please from now on our debt will snowball out side [Music] the years we all budget together hey every dollar of our line not there living kills like no one else as me [Music]


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so yourself um Mary Ramsey Christmas


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[Applause] [Music] Merry Christmas everyone [Music] hello everyone I've got a question for you do you know your net worth you see there's a lot of confusion out there about net worth I mean people think only celebrities have a net worth that's not the case everyone has one but what we have to do is understand how to do this well here's what you do net worth is defined by taking what you own minus what you own and that gives you your net worth you see understanding this is crucial to you beginning your journey to becoming an everyday millionaire we've got to know the start point but we also have to have a game plan that's why we develop the network calculator it's six easy questions tailored to help you to understand where you are and to know your net worth you can do this and I'm here to help all you have to do is enter your email address to get started Mike and I went on our honeymoon to Maui and it was our first big trip together it was amazing we were like let's move here so we bought a timeshare there and we went all the time for the next two years straight in 2015 we were expecting our firstborn child and we're really excited about it it became a lot of work just to get out of the house let alone to Maui I mean I tried everything to get out of our timeshare but I just couldn't make any progress and then finally uh one of your friends actually told us about timeshare exit team and they were great they were amazing so now we can just relax at home as a family or go on other vacations and not have to worry about money spent on a timeshare time changes everything if your timeshare no longer fits your life call the team that can talk to you about options for your timeshare call timeshare exit team today or go to timeshare exit team com [Music] hey folks I'm here to tell you about the $10 sale but you're distracted by this cutie here what's your name Olivia and do you think they should buy this book right here yeah yes you should it's the Total Money Makeover and right now it's just ten bucks in the Dave Ramsey dot-com store along with many other of our best-selling books and they're just ten dollars can you say $10 $10 do you have ten dollars Wow there we go okay well could you take this book for me then okay you owe me 10 bucks [Music]


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[Music] [Applause]


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[Music] over a million of you follow us on the Instagram almost a million on Twitter and five or six million on Facebook thanks for hanging out with us we appreciate that Facebook Caitlyn says she joins us in the the only official Facebook group we have it's called the Ramsey baby steps community the Ramsey baby steps community you can join that if you want Dave do you recommend getting a loan or a credit card to consolidate multiple credit cards in order to only have one interest rate in payment instead of multiple no I don't I would rather list them smallest to largest and I get the traction of paying them off very seldom does that result in a lower interest rate overall and and it gives you this feeling that you've done something and you haven't done anything you just piled up all the trash in one piles all you did there's still a trash pile it doesn't matter if it's three little pieces of trash or a pile of trash is still trash it's still going to be cleaned up and so it just makes you feel like you did something and debt consolidation we call it debt consolidation 88% of the time results in your going further into debt because you don't change your behaviors and that'll get you in a mess cierra is in Dayton Ohio hey Ciera welcome to the Dave Ramsey show hi Dave I'm so happy to finally speak with you you too what's up Dave I'm single mom living in public housing and I just want out of my situation okay great cool so what do you do for a living I'm a manager and training for a fast food restaurant what that pay gross yearly is probably just about 11,000 in the year because I'm working part-time how many kids you got I have four okay well that's not going to do it mathematically no so we've got what you've got the career issue right yeah I'm currently in school online Indiana Wesleyan University administration administration business and business admin okay and how much how long before you get your degree November 20 20 [Music] November of 2020 okay and is that a two-year degree or a four-year I will be in my associates it'll be a two-year okay all right all right and what do you plan to do with that I want to go in some marketing real estate there's a few different paths I want to take with that know what my hands and a lot of things I also have a excuse me a nursing facility nursing background you do background not nursing yeah any time and how long did you long did you do that since 2009 what's the most money you've ever made in your life in one year in one year well probably about the same of me no I'm sorry I was double that I was probably about 20 grand okay how old are your babies all ten nine - in six months okay you got family around well my mom passed in 2010 and my father's a truck driver so he's pretty much all the time gone but my grandfather is probably my backbone gotcha okay all right good well the the thing that I hear more than anything else is is that you've got these babies to feed and you've got to try to find a way to create income and what is the best thing you can do to create income the most income the fastest and I think you go ahead with the fast food thing until you've got something better but I think you start looking today because I think you can if you can find a full time gig making 30 to 40 now which you probably could do with the nursing thing and who's watching the kids if you're doing that daycare yeah they're in daycare and I do get assistance with that okay all right if you were not in public housing would you still get assistance with the daycare probably but probably not as much as yeah okay well what I want you to use is the assistance in wisely meaning that you're using it as a platform to jump from not a hole to get stuck in yeah and so what we've got to do is we have to find something to get your income up long term and short term short term is 16 jobs you know working everything in sight and doing anything cleaning houses walking dogs babysitting I don't care what you're doing but you're making money doing it and and you get you know you get your mindset moved from eleven thousand dollars a year to eleven thousand dollars a month right we start heading that way and it might be some kind of a side hustle thing it's just simple I mean a babysitting service it could be a house cleaning service it could be a I don't care what it is it may have something maybe with your nursing background that you could find a place to you know there may be an elderly person that needs care that you stay there and has a large home and you stay in the basement with the kids you know that kind of a thing that could be your way out but but we've got to have short-term and long-term ways to create dollars and when you start finding those that's going to be your product your possibilities for moving out I can't give you a lot of mathematical hope on $11,000 with four kids right that's not going to get you that's not gonna be able pay the rent and food right I do have the possibility of going so full-time working where I'm at now the only reason that I've been doing part-time is because of just trying to juggle everything with kids and working and it just being me and trying to keep my stress levels out of minimal for obvious reasons no no I'm just trying to exist kiddo I understand I don't blame you so I think what you've got to do is you have to identify which things we're going to work on and what areas I'm going to embrace some stress to have less stress in another area okay an example of that is I'm going to embrace the stress of being in school and working all the time so that I can get out of school make more money so I don't have to work all the time you know it's like I'm gonna work I'm going to embrace that stress right now because it's my way out it's my skin it's my escape mechanism and but it's not a isn't the problem with stress is you can do anything stress wise and time wise and fatigue wise you can bust through anything if you can see the end of it but where you feel like you're a rat in a wheel the stress becomes overwhelming yeah friend of mine refers to it as uh when you're up to your neck in alligators you can only think about alligators exactly that's exactly right that's how it feels and so the thing is you can deal with alligators if you go all I got to do is swim through swim past three more of them and I'm gonna be over there and and and over there is where life is better and I'm and so just keep scratching and clawing through so that's why I think you've got to have a game plan on laying out exactly where you're going how you're going to get there and don't be vague about it and make sure when you're spending time that you're making the most possible money for that time and I'm not sure a fast-food gig is gonna be that you might do better than that income per hour then just getting that as a full-time gig I don't know maybe if you went from part-time to full-time it goes from 11 to 35 if it does that it's something to look at that could be your first step out right but you embrace some stress now so that you don't have to later it's just like you embrace the stress of running two miles so you have less weight you know it's the same thing you we always embrace some kind of stress with an end in mind though and with an end in sight otherwise it's too much and you can't bear it you call me back Ciara any time I can help I'd be honored to walk with you while you're doing this this is the Dave Ramsey show [Music]


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[Music] hey guys i'm rachel cruz i remember going to speak at a university once and a student came up to me and said you know i'm completely debt free and i remember thinking that's incredible you're like a unicorn you don't exist what you're a student who doesn't have student loans so i asked him so how did you do it thinking he would say oh i got scholarships or i worked or my parents helped me but he looked at me and said oh no no I have $26,000 of student loans but I'm debt free and I hear that all the time because if it's not student loans it's oh yeah I don't have debt but I do have a $500 car payment or I am debt free but there's $15,000 balance on my credit cards because this is the truth debt is owing anything to anyone for any reason and here's the reality the average American spends 24 percent of their paycheck to debt payments each month that's crazy but you know what that really tells me is that if you are an average American you are terrified you are stressed and you're asking yourself how did things get out of control so quickly you feel the weight of those payments every single day and you just think this is how it's going to be and I want to tell you that there is a better way to live you just need the right plan and Financial Peace University is that plan over five million people have gone through this program and they're saying my past mistakes do not have to dictate my future I will not be one of those statistics anymore I am going to do something different and that's what happens when you follow a proven plan those dreams that seem so far out of reach start to become reality because you decide to change you can live a life without money stress and with Financial Peace University you can start today [Music]


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[Music] number one that be in December yeah oh no it's my birthday I don't know get for Christmas


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was the Jessica now that was my birthday


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it's pathetic I really shouldn't know the presents that are given to me two books get some books books I got socks underwear and toilet paper because I hate buying all of those things normally last year I got a 1993 Ford Explorer we'll $1500 beater that's probably the most valuable thing I've ever got for Christmas


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I can't tell you all right I'll sign out and keep my head down and shame for an out of every don't have another Christmas of


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this year give stuff that matters and have a very different Christmas you know hard work is in the DNA of this company but if there's one thing that I've learned through the years it's the hard work isn't enough you have to learn to work smarter and that's why I love zip recruiter their easy-to-use platform helps you find qualified people fast here's how it works they're powerful matching technology scans millions of resumes and job seeker profiles all zip recruiter and across its network of 100 plus job boards to find the people with the right experience and then it actively invites them to apply to your job as applications come in zip recruiter analyzes each one and spotlights the top candidates so you never miss a great match it's so effective that 80% of employers who post on zip recruiter get a quality candidate through the site within the first day its results like that that make zip recruiter the highest rated hiring site in America and right now you can try zip recruiter for free at zip recruiter comm slash Dave sip recruiter the smartest way to hire [Music] hey folks I'm here with Melissa and she has gotten me into the Christmas spirit Melissa now what are we wearing here this is a lot going on this is all kinds of fun festive things we need to be excited about today because Santa Claus is come in to Ramsey solutions this afternoon that is a big day and this happens how often once a year right before Christmas Santa swings by he makes time in his busy schedule because he is a day fan and Santa is debt-free oh yeah he comes by and as a benefit for being part of the Ramsey solutions team Santa comes by for the Ramsey solutions kids hey you can get your pictures made we have cookies hot chocolate this is like your Super Bowl have those cookies ready for Santa cuz that boy can eat I am ready it's a lot of fun all the parents they bring their kids right after the show's over right here where we're standing Santa will be here I'm so excited I'm so excited I need to watch elf tonight I'm getting I'm getting post ready my list is ready hopefully I was nice I don't know [Music]


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[Music] Adriana in Austin Texas is with us to do a debt-free stream now are you Adriana I'm doing all these cool how much have you paid off I paid off 40,000 and how long did this take you 14 months 14 months and your range of income during that time started off at about 15,000 to 65,000 15 to 65 what were you doing making fifteen thousand okay all right and you're single yes okay cool and so what'd you do to get out of retail make what do you do now making 65 I actually am a recreational therapist and along my journey and I started my own business oh wow okay good for you well done that's inspiring the lady that I was talking to a few minutes ago trying to figure out how to get from eleven thousand dollars a year that's why I was curious very well done what kind of debt was the forty thousand credit cards and one small loan okay so what happened 14 months ago that puts you on this journey well I was being normal I was sitting around a bunch of family and I was complaining about my and it's all be paid student loans for the rest of my life and I'm coming to accept that and my father was telling me haven't you ever heard of a free MC and I was like oh so they never said anything else I was like I looked you up and I got on board and I was like I'm gonna do this and I'm gonna do it the way Dave teaches and it has just changed my life and it's just been amazing Wow very cool very cool so did you go to the Financial Peace University class yes I did I did and you're watching Terry screams I saw Maddie and John Cooper this is where I'm doing my phone call from those amazing Wow very cool well they they had a I had a wonderful story and a wonderful debt-free scream and they've become millionaires and their FPU coordinators and everything else and so you were in their class Wow very cool yes they are so supportive and just amazing and just have really really made me get through the end of my dad so it was amazing meeting them and it was through watching your show and so fun well that YouTube story of them is very popular it's not a bunch of hit so very cool well congratulations well how does it feel to not have any payments amazing and I can breathe and it just you just wake up feeling just different so how old are you I am 26 years old but I paid off my back for days before my birthday at 25 okay very cool good so it took you 14 months so there's a 24 25 year old single lady out there that's whining to her family that she's going to be in debt the rest of her life tell her what she should do


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tell her what she should do what would you tell her what advice would you give to you from two years ago I would say get your big girl pants on and get to work


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that's the key to getting out of that as lots of work yes and get used to saying no okay yeah turn off the I want it machine and the turn on the I work all the time machine and what else did you what else did you do to get out of that I said along the time I started my business and I stopped there because you work for me and that has really helped but going on along my journey I was like you know they saying make money make money how can I do that and so I sat down and I said you know what I'm and start my own business and that really just started and I got to and I was working hours I was doing evaluations definitely had to work work is what really helps yeah just creating dollars to throw at it and having a plan when you do through when you do create among what to do with them yeah very good yeah well done well done so I know John and Maddie were your cheerleaders who were your other biggest cheerleaders I would say probably some of my friends as well I didn't have some that we're like you know you shouldn't do that but I my friends people in my FPU class as well and you know I think also to my boyfriend and then me like getting myself that push doesn't everyday just waking up and saying you'd run you got to do this you got to do that love it love it well done all right Adrianna Austin Texas $40,000 paid off in 14 months making 15 to 65 a year count it down let's hear your debt free scream


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and hold on Adriana we will have Kelly make sure she sends you a copy of Chris Hogan's retire inspired book and for the first year we're gonna send you a copy of his new book every day millionaires cuz you're gonna be one I love it this is fabulous so proud of you very very well done open phones a triple eight eight two five five two two five that is how you do it folks Edward is with us in Maryland hi Edward welcome to the Dave Ramsey show thank you Dave how can I help we are getting close to ending up step two we have three out of eleven credit cards left or debts good well done and actually four really and that's one with one of them that I'm calling out is the fourth is a defaulted credit card for about eighteen grand that they haven't been calling on us lately so we've just been jumping at everything else trying to get get ahead got it and so we that is in the back of mind and we also have PMI on our house so I'd like to get that taken care of so I can refine it to get that out of that PMI so the question is do I keep on plugging away at those other three yes items and not worry about the other one right or do I attack that at the same time and call them up try to settle you know it's your largest debt remaining in your debt snowball right right I would just when you get to it I would wake it up then but I wouldn't wake it up and now going in they're not calling yeah go and get the other three knocked out as fast as you can sounds like you're making really good progress and you're gonna have those behind you pretty quick and then build up some lump sum money so you'll have something to make an offer when you call like ten thousand dollars or something five or ten thousand dollars how old is this dad how long since you paid on since we started but no two years ago coming up okay so it's not having any active debt any activity on the account positive in two years no no who is it I went from that it went from a credit union to a lawyer and we haven't heard from once I went to the lawyer okay all right the lawyer is a basically a technical that there are debt collecting firm is what they are or the lawyer on staff and they're either working for the credit union or they are one of the debt buyers one of the two if it is a debt by way either way it doesn't matter the 18,000 was the balance the last time you did payments on it two years ago correct okay so they will have added interest for that two years they will have added a lot of late fees and they will have added a lot of collections fees and attorneys fees and so forth okay all of that can be negotiated away back down to 18 or less and so what I would do if I were in your shoes I would call them up and offer them $10,000 cash regardless of if they say there's thirty owed or not and they're probably going to tell you there's 30 owed okay yeah and you know make the solid cash offer once you get to the point that you have that cash in your hand and then if they once you come into agreement with them on the amount and it's an amount you have get it in writing and do not allow them to have electronic access to your checking account this is the Dave Ramsey show [Music]


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[Music] hey Ken Coleman here we decided we'd spend some time with people and ask them how do you envision your retirement what are you thinking about retirement are you planning for it I will play a lot of golf hanging out playing some chess taking it easy you know reading the paper that kind of stuff so the plan is that he becomes very successful and I can retire early I like this point and then the goal is of course to be with family and spend our last years traveling the world are you beginning to plan for that like like how are you gonna get there well you know hopefully I'll make enough money that I'll be able to do it I haven't started saving it's been a little tricky just to save for that kind of a thing but you know we've started thinking about it this year how old are you 42 I absolutely no idea no yeah I was just talking to a friend about this recently about what like we don't even know what a 401k really is where would that come from all of that stuff so I I'm lost I can't see living entirely off from the 401k and Social Security given what the cost of living is in this country I penned already I'm one of mr. regal at Monday morning I'm just retired just retired I'm going to get on my boat I'm gonna spar some bananas eat some carp and you have some fun see this is a man thought about what retirement is gonna look like doing it [Music] we all have smartphones isn't it time for a Smart Plan pure jakk USA offers simply smarter Wireless that covers 99% of Americans stop overpaying for Wireless unlimited plans start as low as $20 per month and include the same great coverage you never pay for any data overage fees and pure talk USA never turns off your data no contracts no hidden fees no surprises if you're thinking our absurdly low cost means less coverage think again your dock USA operates on the largest gsm network in the u.s. to ensure you're connected virtually anytime anywhere and our 4G LTE network provides the fastest internet speeds like more expensive carriers you can keep your same phone and your same phone number add multiple lines to save 20% off your total bill go to pure talk usa.com and do something smart today unlimited talk and text plans start at $20 per month no contracts no activation fees no reasons not to try come to pure talk us a calm and see how much you can save enter this promo code to receive 50% off your first month I'm here hanging out again with Olivia many of you in the chat thought she was great I think she could take my job do you think you could do this yeah I think so too so nonchalant well I gave her a copy of the super red racer one of my favorite kids books that we have put out here part of the junior adventure pack now do you know how to read yet what you're working on it really you're four years old do you know how to read it for I have no idea I don't think I think I was a late bloomer I was not as sharp as you are but you told me you're going somewhere exciting today where is that there build-a-bear now if you've been to build-a-bear you know it's amazing what are you gonna get a build-a-bear Olaf Olaf yes you got it last year this is old news folks she's letting her sister get this one that's fun thank you for coming by Olivia yeah [Music]


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[Music] thanks for being with us America we're glad you're here Larry is in New York City hi Larry how are you I'm doing well Dave how are you better than I deserve what's up I wonder I give you a little bit about myself my wife and I were 33 years old we're debt-free good we both have a household income of one hundred and eighty thousand we're currently maxing out our 401k our Roth IRA and our health savings account as well Wow we have about one hundred and fifty-five thousand in cash seventeen thousand in checking and two hundred and seventy three thousand in retirement so way to go we feel like we're too great yeah we feel like we're in a great spot we live in Westchester County outside of New York City those very expensive area and our next thing we want to do is look to buy home yeah yeah I know it is great and right now we are living we're running an apartment that's 850 a month that's a small one-bedroom and we're actually able to get a discount because my employer owns the apartment and is offering it to us at a subsidized rate so you know I look over right now and I'm very excited about our future but at the same time looking at the mortgages here and also looking at the taxes here for property which seem to range from twelve to fifteen thousand a year for the price point we're looking at for a home I'm just kind of anxious about laying that kind of money down and looking at that kind of taxes over the long run so part of me is debating moving closer to home which would be possible closer to family which would be either in upstate New York or part of Pennsylvania where the you know a 20% down payment here for home could be well north of 60% the total cost so I just want to hear your opinion on that and think you know is it worth moving in a way at this point in place on what we got or the kind of keep it here house prices would not be the only reason I did that given that you have the income to live in the area you're in if you told me you made $50,000 a year and you said I want to own a house or you're not going to in your area so you're gonna have to move you know but you make up you make a couple hundred and you're 33 years old you're doing great you're killing it so I think that I think the bigger question is not house prices in taxes its where does the 43 year old you want to live yeah and your wife and raise kids or not or whatever your plans are where do you want to be where do you want your life to be and your life should not only be around your career but it is one of the elements it is one of the late and you know you decide for I'll give you an example okay obviously I do a radio show and there was a tipping point with the Dave Ramsey show 15 or 20 years ago where we had 100 and 200 stations so you have 600 now and we were getting a lot of advice from a lot of people saying the Dave Ramsey show is never going to be a major national force unless you broadcast it from LA or New York so you need to move and I said you know I'm making really good money I love Tennessee I'm a Tennessee and I grew up here it's how I want it's how I see myself for the next 15 or 20 or 30 or 40 years and I don't really see myself in New York and nothing wrong with New York I just didn't see myself there and so we made the decision to stay here and it probably you know it's shocking to some of those people that gave advice that we made it anyway but but but you know the point being though that sometimes you know you do need to live in a place to do your career but if that's the only thing motivating you then your life is all about your career you know singularly and that's bad so again where do you guys want to have a life your career is part of that your home ownership is part of that the quality of life the type of people around you is part of that your church if you're a spiritual person is part of that and so on yeah and you know where do you see yourself living and you might have you might be sitting where you're sitting right now and it was like 98 percent career driven and you're kind of looking up going that's not doing it for me or you might be going you know just like this area if you love what you do you'd love the area you love everything else and the only motivator is house price I would just house there and stay right I think the biggest thing is again as we are thinking about starting a family and it's we don't have any family in this area and I also know that you know I'm thinking about once we have a child would one of us not want to work and I think that if we would move that could be an option because again I think we'd have enough of a cushion to make that work for a while I agree I don't think we could cut our household income in half and now make that work here I grab I agree see now that now you're talking okay that combined with house price combined with everything else says move that's what I that's what all right now but it's all part of the gumbo it's not just we're not just looking at one ingredient right and then have one other thing that there's one other kind of option I kind of see with this and it's that Sportsman of where I work if our family would grow there's the potential that we could continue to be in an apartment that we would rent that would be subsidized by my employer and then I'm thought in my mind would I then possibly buy a two-bedroom two-bath apartment and potentially offer you know that's a place of in-laws to say to try to bring family a little bit closer where they wouldn't have to I think you know I think I think that it that is a long-term financial plan that has golden handcuffs if your employer if your employer blows up or there's an ethics breach or you just decide you don't want work for the guy who's a new guy there that's a jerk ten years from now you're stuck with that plan that's golden handcuffs so no I wouldn't build it around someone else providing me housing I want you've done a really good job of setting yourself up for independence here so don't you know don't retreat from that I think you're moving I don't know what it does to your careers and that's what you've got to think through and there's no panic you want to move the day you can do it over the next three years I don't care you should there make some money pile up some more you know before you move I don't care but it sounds to me like there's enough ingredients drawing you family house price the ability to cut your income in half and still prosper all of that kind of stuff is drawing you away from you know the more expensive New York City area that's what it sounds like to me it's up to you but I mean that I'm just listening to you talk a man thank you for the call open phones at triple eight eight two five five two two five cody is with us in Salt Lake City Utah hi Cody how are you good Dave how are you better than I deserve what's up well I was curious my company was recently acquired this year and so at the end of December the 401k that I have with the company that I was working for freezes and then next year I start contributing to the new company's 401k exact new I know that I would do a rollover yes and I wasn't sure because part of my 401k is traditional 401k contributions but the other section is Roth 401k contributions and then company match and what used to be their pension plans yep role at all it's going end up in difference we're gonna move some of it to Roth you're gonna move some of it to traditional depending on how its structured to where you don't have any taxes we do a direct transfer rollover because you're gonna have so much more control over it and you're gonna have so many more options that you can invest it in then an old frozen previous company 401k that the company is no longer in business so yeah you definitely want to roll that and just get with your broker if you don't have one click smart Wester at Dave Ramsey comm put in your info it'll drop down a list of smart investor pros in your area they'll sit down with you and help you put that together and it's a pretty easy thing to do a direct transfer a rollover and if you've heard haven't heard Cody I personally invest and I personally recommend spreading your rollover across four types of mutual funds evenly 25 percent in each growth growth and income aggressive growth and international and that should work for you growth growth and income aggressive growth in international and if you'll do a direct transfer rollover which means you sit down with a broker you figure out the mutual funds you fill out the paperwork that paperwork is directly submitted to the old for Oh 1/k they will send the money directly into the IRA you do not want them to give you a question you do not want them to give you the money directly because they're required to withhold 20% on it and you're gonna create a tax problem for yourself there's no taxes on a direct transfer rollover so do a direct transfer direct transfer rollover with this it's the proper way to do it and you won't have any taxes hey thanks for calling in this is the Dave Ramsey show [Music] [Applause] [Music] [Applause] the mortgage home buying process is so complicated more so today than their very intimidating you know what takes away the intimidation is knowledge yeah and that begins the journey all the way down to the ultimate goal of baby step six and becoming a hundred percent debt-free house and everything one of the things we do is we provide homebuyer workshops these homebuyer workshops provide them great information we call it our smarter mortgage plane and it helps them get through step one two three four five and we actually focus then on step six and getting them in the home out of the loan out of debt it's a great - and that's why this partnership is worked you guys are thinking about how our listener who has a set goal how you can participate in them achieving it and that's the beauty of this Churchill with Ramsey solutions marriage [Music]


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[Music] so it's the first year when we always talk about resolutions transformations goal-setting that kind of stuff it's always good to reset and rethink in a very real and a real practical way what you want to change this year you want to change something in your money you want to change something in your weight-loss you want to change something in your relationships you wanna change something in your spiritual walk you have to be very intentional to do that and truthfully the people that win in this world are the ones that do set goals and then go after them they don't always hit them but there's winning in the going after and so there's some basic things you want to remember about those five things they have to be or they're not really goes number one they need to be specific and number two they need to be measurable I want to lose weight great you won't it is measurable but it's not specific and so I want to lose 30 pounds now we've got something that's measurable and that is specific then you put a time limit on it and the math starts working that's number three when do you want to hit the goal because until you say when you want at the goal you don't start asking yourself what has to be true so the reason for setting a goal is you ask yourself okay now that I've set this what has to be true about me about my life that's not true today so I've got to go change some stuff to hit this goal so I want to lose thirty pounds when and how many times well I want to lose it in 90 days okay in three months I want to lose 30 pounds see the math is real easy you're already starting to do it with me it's ten pounds a month right two-and-a-half pounds a week and you start asking yourself what has to be true for me to hit those goals well what has to be true is you're gonna increase your water intake decrease your sugar intake drop the bread and increase the cardio to a minimum of 30 minutes a day we know these things about losing weight and we all kind of know that you don't walk the route a little while you kind of know what it takes you don't need to Oprah to figure out I lose weight that's what you do so you just start asking yourself what s33 well I've got to lower my caloric intake and increase my heart rate to the sweat point at least 30 minutes a day you do those things you will start to see some weight loss in that three-month period of time and you can measure against your goal and see how you're doing and you should measure against your goal and see how you're doing the fourth thing is the goals that work must be your goals my wife wants me to lose weight you will never lose weight my mother wants me to get my money together and pay off my debt you never will my father always wanted me to graduate from college you never will until you decide you are going to hit this goal for you when you emotionally own the goal that's when you have a goal until then you do not have a goal now once you've done those things actually a lot of people do those things they have a specific measurable goal with a time limit and it is their goal not their most go not their wife's to go not their husbands go a lot of people do those things you know what messes everybody up the fifth they don't do the fifth one the fifth one is the magic the fifth one is the secret sauce it's what makes it happen what's the fifth one you got to write it down the Bible says in Habakkuk 2 to write the vision and make it plain something happens in the neuroscience something happens in the spiritual realm something happens in our little brains when we write it down when you write down big piece of paper printed out 78 point on your computer whatever you do I'm going to lose 30 pounds by this date put it up there on your mirror write it down keep it where you see it ever so often I don't care how it is write it down you can hand write it you can type it on the computer but don't leave it in the computer put it physically so you see it ever so often something to remind you and when you write it down it's like your commitment level changes it's like you start going Wow if you want to add to that show it to a few people now you got fair pressure I'm gonna run my first marathon this year I'm gonna run my first half marathon this year I'm gonna lose this way you start sharing that and you get that community encouragement that community accountability I thought you said you were gonna do this stuff what are you gonna do it you know they start holding you accountable changes everything so set real goals this year they'll change everything for you specific measurable a time limit they're your goals and in writing hey folks I'm here with Margaret from our HR team and I hear that you are Santa's helper today what's going on yes so the big man himself is coming to Ramsey solutions no it's not Dave but we have Santa the other big man and the other big man with white hair so he's coming in to our lobby to greet all our team members kids we're expecting hundreds of little kiddos to get a picture with him and you make hot chocolate for Santa and hot apple cider for his helpers in the elves and we have an elf this is gonna be a fun day we'll keep you all posted more the show coming up sacrifice determination you can be a about your character work you've got to be on the same page they were calling to let you know we are debt free house and everything you have done really really good and you're not gonna quit than a huge witness for us to be able to share that it was time to get serious intentionality people


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this is your show America I knew it 22 what I know now our lives would be better is the show that's changing the world now you don't just listen you live it live from the headquarters of Ramsey solutions it's the Dave Ramsey show where Dad is dumb cash is king and the paid off Home Mortgage has taken the place of the BMW as the status symbol of choice I'm Dave Ramsey your host you jump in we'll talk about your life and your money it's a free call at triple 8 8 to 5 5 to 2 5 amber starts off this hour in Indianapolis Merry Christmas amber how are you I'm better than I deserve how are you just the same how can I help I have a clear question that I need help with my I'm currently with a contracting company that I've been with for four years I do basically analysis work and we want to on board being which I'm so excited about I wanted to know I asked my boss at the contracting company for a raise and they really can't do anything because they're in like a contract like transition and I want to know since I'm getting on boarded if I could ask for a little money from where I'm at I currently make about 53,000 and I'm wondering if I can ask for like 60 or 65 okay I'm sorry you ask for a raise but they didn't give it to you now you're asked for a raise again yeah because that's what the difference like so I'm with a contracting with my boss and he's a director of engineering and then when I go to a different like it's with actual company that we've been working for for four years if he was a different person I'll be reporting to a different director but you're going to be working for the same company no I will be I will be employed for so like the contract the contracting company does facility works and then the company that I'm going to be switching to is like like hire on full-time oh there that you're going to one of the facilities yeah like I'm working for the actual company there okay so they've offered they've offered you a job and to pay you 53 yes and you've accepted that and you've accepted that job I am in this so that I've tried over the weekend to think about it and they're gonna talk with me on Monday more about it have they offered you the job yes at 53 no I don't know if they've got the money they haven't talked about money wise yet but I wouldn't go in and have my ducks in row as well okay all right so if you were them why would you pay you 60 instead of 53 that's a good question I think about the expanded roles I'm gonna have there I've the platform like I've pretty much got to a platform where I'm at I don't hire people based on I don't pay people based on what they used to make okay so you're you know you you used to work somewhere else now you work for me and you have an expanded role Whoopi I don't care okay you just took a new job that had an expanded role you just took that job so why try again you Swit you guys I'm being tough on you but you gotta so you gotta think this through if you'll switch shoes if you'll switch shoes with that guy or gal that's sitting there and answer this question why are you worth more that's good I like that basically because I'm going to be taking on an expanded role with the saving money we'll be using that to cut call energy costs and because we'll be cutting energy costs I believe that I should be compensated based on the savings that we are going to be able to do in the future okay but don't use the phrase expanded role okay okay because that refers back to the old place it's an expanded role over what you used to do but just go look I'm gonna come in here and I'm gonna cut your costs because I know what I'm doing and so I'm worth this okay if you come in here and show me how you can make me 300 grand I'll pay you 100 easy right okay but you got to show them you know I I think I can show you some energy savings that makes you really glad that I'm here and you're only paying me 60 grand you got a deal on me yeah that's what I'm saying okay yeah you got so any you know because if you'll just be the other guy be on the other out of that no well of course if you're gonna save us $300,000 in energy costs and and you know you want 60 instead of 53 yeah I'm sure your expertise makes you worth that then and so because that's what every employer wants to do ultimately is they want to make more on the person and the person coughs otherwise otherwise the business goes out of business should I be asking for more like what should I be asking for no idea what the job pays no I just I gave them my feeling not a number when I first started back and I said 50 the job market like basically goes up to about 70 that's the other thing you can come in and you could lay that you could pull down some research that says you know this position at other places pays between 50 and 70 with my level of experience I think I can make you so much money you'd be happy you paid me between 60 and 70 okay if they can hire other people for this position for that range then they're not gonna pay you 160 right right because they can replace they can replace thinking about two of you for that right exactly and so it's just it's a math equation for the business and it's not it's not being mean and it's not saying you're just merely what you can produce but it is about a return on investment for that business and if you'll think about it from their perspective it'll help you keep your words coming towards them in a correct way how can I add value I want to be so valuable to you make you so much money that you're smiling every time you think of me that you only have to pay me $65,000 because the range is 50 to 70 I'm gonna make you so much money energy savings here I really can show you how I can do that and I'm so excited about it and you know we started talking about 53 but I got to looking at this and I think I'm worth more than that because I think I'm worth more than that to you I think I'm gonna make you money and that's how you will go at it this is the whole thing all right Mike is on the line in Indianapolis hey Mike welcome to the Dave Ramsey show hi Dave how are you doing better than deserve what's up so my little sister has struggled financially and my wife and I have helped her out in the past last time we offered f2 you trying to explain how it changed our lives and how much better we are all for it but she ignored us and today she called and money because she's facing addiction and we're just not sure what to do at this point well at what point is her irresponsibility not going to be your problem anymore that's that's where our struggling I I know that in the sense we are enabling her by continuing to help but I think that my heart keeps getting in the way and I and I understand that there's part of it that is I'm still might not be helping even if by trying to help exactly you're harming yeah now I don't know what it takes to get her under control but where does she live Carolina okay well I'm gonna have a talk with her that says if I help you this time you're going to Financial Peace University and if you don't we're not ever giving you another dime again even if you're homeless do you understand me you know I'm gonna get real firm with her you're going to learn how to handle money kiddo I'm your big brother and I'm going to make you do it because I love you and I'm not giving you any more money if I help you this one more time this is it and you're going to the freakin class if I drag you there by your hair and you just have a big brother talk and you don't know how you discuss it with your sister but that might be out sound that maybe it's nicer than that yeah this is the Dave Ramsey show


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hey folks I'm Ken Coleman you might know me from the Dave Ramsey show or the entree leadership podcast let me ask you a question do you dread going into work on Mondays you're not alone a recent Gallup poll found that nearly 70% of Americans hate their jobs life is way too short to walk through the week like a zombie we all want to live a life of meaning and I'm here to help I'm really excited to announce my new radio show and podcast the Ken Coleman show [Music] over the years I've had the privilege of interviewing leading business experts athletes entertainers and politicians now I'm here to share their success stories and struggles with you as we explore how to find your sweet spot take a leap of faith and maximize your potential if you're looking to go from being stuck in a job you hate floating through the week with no sense of purpose to working in your strengths and unlocking your full potential I invite you to join us on the Ken Coleman show so subscribe tune in and share with your friends and family I have to admit I'm not a fan of dental insurance very seldom does it pay off yet I understand that just one dental emergency can blow your budget quickly and the truth is no matter how expensive dentist visits can be you have to take care of your teeth that's why I am a fan of one dental comm one dental comm helps you save at the dentist immediately with an everyday low price it's like a Costco membership you pay a little to join but you save big every time you use it plus you can choose from tens of thousands of dentists all across the country and unlike dental insurance pre-existing conditions are accepted there are no waiting periods no maximums no claim forms and no deductibles it even includes orthodontics for kids and adults in fact I have team members who have saved over a thousand dollars for one procedure start saving today at one dental calm [Music] so while there's amoral scammers out there there's retailers who are manipulating you into buying things that were even unaware of there's also the scam of you scamming your self that's right the way you can scam yourself is when you say oh it's just twenty dollars it's not that big of a deal but four out of the bunch of twenty bucks mmm who cares or I mean we really deserve this vacation just charge it on the credit card it's not that big of a deal we'll be fine listen you cannot talk yourself into things that you cannot afford or that are not in the budget remember being intentional with your money working to get out of debt is the freedom that you're going to have not to worry about your money so stop cheating yourself out of your own money and start being disciplined and you can also start a membership to Financial Peace University as you're on this journey to keep you inspired and on track this is a proven program that will teach you how to never worry about money again you guys that's the goal isn't it to never worry about money so make sure to click the link in the description to get started hey guys you'll see behind me dave is not alone in there we have a special guest coming up on the show Ken Coleman he's the host of the ken Coleman show he's an author and they've got some fun stuff to talk about he's helping people all over the country check this out coming up on the show [Music] [Laughter] [Music]


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[Music] for the last several years we've had as one of our Ramsay personalities one of America's premier experts on career on getting a job on finding your passion he now has his own show on Sirius XM called the Ken Coleman show in the way this was all born was Ken is is an absolute world-class interviewer and he started using those skills to teach people how to interview and interviewing you when you call in on this show to help you learn about you so that you can find your passion you can find where the 10 year from now you is happy with the current you from the decisions you've made because career is half of this equation we talk about around here the other half the outgo we spend a lot of time talking about the outgo but the income is sometimes a big part of the thing and Ken's popularity has soared he's absolutely on fire the response to the podcast the response to the Sirius XM show the response when he does talks around America is absolutely over-the-top as a ramsey personality he's just a dadgum hot commodity so can I just called you a hot commodity well I could tell you I didn't expect to ever well congratulations man I'm proud of your success well thank you you know you've given me the opportunity to do work that I love and we're seeing results of people daily getting that confidence that they do in fact have a role and that they can't figure out what it is and oh by the way make really good money and be fulfilled in doing it and so that's what's what we're about I mean that's what our entire company's about we had our awards luncheon earlier today and the all the award winners they had basically the same the same response and it's man it's just so great to be able to do this work it means a lot to me I love this place and I love my work and that I was sitting back just smiling because that's what it's all about that's what we're trying to do on the Ken Coleman show so if you are on your hunt for the dream job Ken's got a brand new resource that's going to help you how to win the interview it is a free online tool with five strategies for standing out in the hiring and the interview process it's an easy to read guide it's free just go to Ken Coleman calm and you type in your email address we'll let you download it it's that simple how to win the interview five strategies on standing out in the hiring process can I it's hard to find stuff like this out there this is number one this is concise and it's really clear and what to do but I almost want to send it out as a precursor before anybody's allowed to come in here and interview in our company yeah it would save us a lot of time it really would you can't do this don't come in that's right and you know we ought to teach this in school we ought to teach this we ought to teach a class and how to prepare so that you can perform because that's what an interview is so you've gotten pulled out of the stack of resumes as you know our first resource was how to flip your resume and we've had thousands upon thousands download that and then when you get the phone call and you get an opportunity for the interview whether it be in person or on the phone now what we're walking you through in this guide five tips what you need to know this is preparation what you need to expect that's preparation how you need to dress that's preparation what you need to excuse me how you need to act and what you need to ask those two are performance and so those five tips we walk you through with real concise examples so that you have an idea these are the types of questions I'm going to be asked and when you can walk into an interview and you've done the preparation here's what happens your confidence level rises and that comes across when you're able to not be as nervous as as most people are because let's be honest for most people Dave they're not weirdos like us who like the stage the Ramsey persons we like being in front of people for most people a job interview may be the most pressure-packed performance they ever give you race you're like speaking I don't want to do yes sir yeah you're in the spotlight and so you've got to be prepared see it's preparation preparation preparation if I know again about the company the mission statement awards they've won why they offer the products or services they do how long they've been around I know the founders story if I know things like that then I'm going to be able to actually have a conversation back and forth and in moments when I get a chance to talk as we say in the last tip which is what you need ask you can begin to ask insightful questions and if you do that you they're gonna look at you like you're an alien yeah because most people don't have anything to say when an employer says okay do you have any questions no I'm good our managers say is their number one pet peeve yeah how does that make you feel what you if you look back in all the years it's been a while since you've interviewed people but you're interviewing people in the early days and you say do you have any questions for me and they don't have a question what did that say to you I thought this was this was almost pushy this question I like it though it's like you turn around that's the hiring manager how long have you been with the company yeah that's like below right you know and and how did you get in here the reason I put that in there's this reason I think what that says is you're flipping it and you're going hey I'm just curious how long have you been here and what do you love most about this company now I'll tell you what that says that says that you are insightful and you want to know what this culture is like and what they love about this company what what and so what it does is it it flips the script and here's what we know no one likes to admit this day but you know it's true we like talking about ourselves yeah yeah and it will change the mood of the room you're obviously successful here what do you think you attribute that to that kind of stuff yeah exactly what kind of people are you looking for here and what kind of people may I like that question you know what kind of people make it here and what kind of people don't make it here that those are my favorite - yeah - your back you're sending a message I want to be here and if I get the opportunity to be here I want to know what it takes to win because you know this at Ramsey solutions we are looking for a different breed of people and you do act differently here if you want to win at Ramsey solutions we're not the average workplace yeah so there is a script but the answer could be in some places the people that make it here work 80 hours a week right and then you go oh I'm gonna self-select out exactly right yeah because that you're putting out you're putting out a vibe that says I might not want you that's right and that's a good that's a good thing - yeah I've had many callers on the show so far Dave calling I thought it was the right place but it was and I figured it out about three or four weeks in and you don't want that what you want to find out is in that job interview you want to get a sense for culture and you want to get us for your personal fit mm-hmm because you know you really don't know until you get in there it's like that first date you know you think you think you may be attracted to a guy or a gal and you go on that first date and the game changes and I do not understand and to me it's like were you raised by wolves because I'm from a different generation how you come in here to do an interview yes now we have a real laid-back culture dress wise okay nobody here wears ties nobody here wear suits unless they're you know going on a job interview somewhere else or something I don't know you know why nobody does right and yet it's where I mean I wear blue jeans every day oh yeah right sir and tennis shoes or whatever most days that's that's how most of us in here we're real laid-back and yet I have people come in here to interview that looked like they just came off a punk rock band and I'm like what made you think that was gonna work oh I'll tell you it's because somewhere along the line they've bought the lie that you know oh you know don't judge a book by it's cover that's hogwash of course you're gonna dress warmer people are gonna look at you and let me tell you something you are saying sentences from the moment they lay eyes on you yep you're not talking but the way you walk in a room the way you hold yourself the way you look in the eye and shake their hand and how about a smile for heaven's sakes now even if inside you feel like you're throw up yeah I get that and I get that anxiety is real but folks you've got to think about your total performance and when you're sitting in and don't overdress either oh yeah that's the worst yeah cuz that looks like yeah I mean well we had a guy come in and interview for a marketing position you know and I'll tell you sometimes the ladies come in and they're dressed like like they're trying to make a fashion statement or instead of do an interview yeah don't distract me yeah with your clothing it's a great point what you think looks good you need to have some real insight from people who go you know what that's a cocktail party dress this is let's go in there let's look at one of our female hiring managers a while back a lady left and she goes did she think we had a stripper pole I mean yeah why does she think she come in dressed like that that's right I mean it's unbelievable what was she interviewing for now you know and it's just you just have to think you know it's common sense if it's my presentation it's a great thing how do the interview is the PDF five strategies on standing out in the hiring process it'll help you get the job as I promise you there's real stuff here I loved it when I read through at the very first time visit Ken Coleman calm and you can download it very quickly very easily it's completely free by the Ken Coleman be sure and check out his podcast and be sure and checking them out on Sirius XM as well ramsey personality Ken Coleman thanks for stopping by thanks for having me David [Music]


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when I went into the Marine Corps the natural thing to do getting back from a deployment is to buy a brand new car with a car payment because that was what people did everybody has a car payment when I was growing up my grandfather was kind of the smart one with money and he would always say when you turn 18 make sure you get a credit card so that you can get your credit score up and be able to get a house and this not if we wanted to buy something we bought it there was never really a financial discussion he talked me into going to financial piece by saying to me we could pay off all of our debt we could have no car payment everything changed once we went through that class [Music] it wasn't easy if there are a lot of sacrifices that we had to make it was all worth it it was definitely worth it [Music]


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that's really loud like really we just do the intro please so what is a credit score [Music] despite what you've been told your credit score is not an indicator of how well you're doing financially at Ramsey solutions we call it the I love debt score because all it tells you is how good you are at borrowing money and paying it back that's it so let's take a deeper look at how your credit score is determined buckle up 35 percent of your score is based on your debt history that's how much you've borrowed over the years 30 percent is your current debt level how much you owe right now 15 percent is how long you've been in debt ten percent is any new debt you've acquired in the last 12 18 months and the final 10 percent is based on the type of debt student loans car loans or that TJX rewards platinum MasterCard I see you my fellow maxinista x' you here in a common theme here yeah it's right there on your screen in giant bold letters in purple glittery dancing letters the common theme in a credit score is dead are you starting to grasp by a high score doesn't mean you're making good life choices so is my income or debt to income ratio factor it into my credit score nope okay well does it factor in my savings account my overall net worth sort of anything other than debt oh well actually now that you mention it now the only way to have a good credit score is to and I'm not making this up go into debt stay in debt and continually pay your accounts perfectly without adding or paying too much off if that's what winning looks like and call me a loser actually don't call me a loser that brings back memories of dodgeball in middle school and you know dodgeball and credit scores have something in common they both make me sweaty and uncomfortable so there's that in the book the total money makeover Dave Ramsey teaches among other things to stop taking on any new debts and start paying off your current debts now this is relevant information and here's why after about two years of being completely debt-free your credit score will become indeterminable it'll be non-existent like skinny jeans on a clearance rack don't be like everyone else and think that your credit score is a big deal you don't even need a credit score well how am I supposed to buy a house without a credit score two words manual underwriting look it up it's a thing when you start dumping debt and paying for everything with cash you'll be well on your way toward building wealth if not your stupid credit score and now you know


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[Music] think about all the passwords your brain has to remember this is impossible right so instead of coming up with new passwords most people just use the same password again and again and again and again this is not a good idea I mean you remember the yahoo breach right not only were yahoo accounts compromised but also at risk was every account where you use that same password that one breach alone affected over 3 billion users yeah this is why I am a huge fan of LastPass LastPass generates and stores strong unique passwords to keep you safe no more guessing your password than getting locked out of your account LastPass manages and organizes all your accounts with your logins and unique passwords in one safe space and you can access them from your computer or your mobile device I personally use my affection and I love it so join the over 13 million LastPass users and start managing and securing your passwords today try LastPass premium for personal use or LastPass families for your entire family visit LastPass calm slash day then try it for free hey folks I'm here on the red carpet with Ken Coleman this feels like an awards show doesn't as to say oh you can see my shoes there oh yeah get a look at those Nikes beautiful yeah look at em in on that with an all-black outfit guys you seem to come in early and bring you them oh no I've had these for a while oh ok nevermind well lots of shoes you know that every year we have Santa come here to our lobbies all the kids gather round we have an elf one of our very own team members is an elf on the side not an elf on the shelf yeah I know it's gonna be good are you gonna be dressing up as an elf no Roger that well thanks for hanging out Ken we appreciate it [Music]


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thanks for joining us America Chuck and Vanessa are in Sioux Falls South Dakota hey guys how are you Merry Christmas very good I see on my screen your debt-free Congrats thank you yeah love it how much have you paid off $280,000 Wow and how long did that take four years Wow okay and your range of income during that time around starting at a hundred and six thousand and then up to 136 so what do y'all do for a living I work as a physician assistant in Hand Surgery at a hospital mm-hm and I'm like a pastor at church wonderful okay cool so what kind of debt is this two hundred and eighty thousand dollars it is student loans Wow student loans oh man and you did this paint well you did it in four years well that's the beginning of a story we we thought we'd get rid of it quickly if we were going to make a lot of money when we graduated but we realized after two years of repaying them that they weren't going anywhere because we're just paying the minimum so we kind of took some drastic steps and after we had our first child left jobs that we loved in a city and state that we loved and moved home moved back across states and moved in with family and started just going after it but still weren't living with doing the cash budget and and all its all in all the the guidelines you talk about so when we took FPU in twenty four years ago then we really kind of kicked it even in the higher gear and and that's the women's 280 happened god yeah so what did you learn there that move the needle well it turned the corner for you cuz you were trying before yeah I think what what kind of move the needle was out after we took the SPU class our church offered it and yeah it was just it was that was a turning point when we realized we need to get on this plan because what we were doing was not working and yeah we just started tackling it and it yeah that was the beginning so the secret to getting out of debt then is what because that secret kicked in four years ago the other secret Chuck had said too that the look on my face and we add had to add up our non mortgage debt for the FPU class he said my face was just a face of hopelessness I mean it just made him sick and so that was enough to get him passionate which then in turn got me passionate so the key is to stick with it and stay passionate with the with the budget and and using cash mm-hmm okay oh and then Chuck was once mention the other part okay very cool about I'm only saying about the oh that we thought said it just sticking with our goals too we had goals we were staying on the same page with those and and all that plays and play they're all yeah absolutely yeah so I think it was it wasn't just devastating just uh just to see her face cause you know you tried to get her motivated say you got to get mad you got to get mad about this and it just didn't do anything but when we start talking about you know what if we want to do this if we want to be great givers if we want to go and serve other people around the world or whatever it's like we need to be debt-free and doing that and then that's really when I think she started getting really passionate exciting about it and it was fun just to watch the turn you could see it after we had tackled some of the loans you could see it she was going up to people at Target or at the bank with the envelope systems and just tell them that you need to get on this plane you need well once you discover the cure you want everybody to be cured love it well way to go you guys were very very proud of you how does it feel now that you got rid of 280 thousand dollars oh it feels amazing I never thought this day would come we heard we heard debt-free screams and we listened to my heart radio and and all the people you interview and I think oh they don't have nearly as much as we have and how so could be how could we do this but you just say you know what we just gotta keep chipping at it keep chipping and we just it's amazing it's amazing to get to this point yeah and I think it's just been good just a good dream again you know for a long time it was like we gotta pay off today to pay off a bet and that's all we focused on for the last few years but now it's like oh we're debt-free what does that mean for us what does that mean for our family so just a dream again it's just been been awesome well well very cool you guys we're proud of you congratulations got a copy of Chris Hogan's book for you retire inspired a number-one best-selling book and we're gonna send you that now and then after the first year when everyday millionaires comes out we're gonna send you one of those too because I think you're on your way to being every day man there's a track here yeah cool stuff yeah and be outrageously generous and put yourself in a position like like you were saying Chuck where you guys can serve so very very well done great job all right it's Chuck it but that's the Sioux Falls South Dakota incredible two hundred and eighty thousand dollars paid off in four years making 106 to 136 count it down let's hear a debt free scream 3


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[Applause] very very well done open phones at triple eight eight two five five two two five well the new tax law has gone into effect 2018 is the year and you're going to be doing your taxes right after the first year a lot of you should be and do you know that one of the most common deductions for business is gone yeah business meals and entertainment call the good news is you don't actually have to understand everything about the new tax law there's a if you run a small business over there's some wonderful changes in this law they're gonna save you a lot of money if you know they're there I mean it's it is a small business friendly tax change I could tell you that I've been we've been looking at ours and I'm like well thank you yeah good stuff man I mean it's it's real legitimate money and it's you anytime they let me keep more of my money it's a good day right because by the way it is mine so I did earn it you didn't so that's how this works right so hey if you need some help with the new tax law to make sure you're getting all the advantages whether you've got a business or whether you're doing is individual either one check out one of our endorsed local providers for taxes one of our LPS CEO P stands for endorsed local provider is someone I endorse local in your area that provides help it's a network of people we vet them locally here we've got a team of people that run the ELP and all that and so forth so the deal is simple the you just simply have to get with somebody that you is going to walk you through this and help you and you know you don't DIY your taxes especially where there's new tax law that's it it's that simple and you jump in and you know that's how this is done and so [Music] you know just check Dave Ramsey comm click tax ELP and you know one of those folks will sit down with you and make this happen you're gonna save money on taxes like you have no idea I mean your standard deduction doubled this year if you're just taking the standard deduction a lot of you that have been itemizing for years are not going to be itemizing this year I think is you got was it like $24,000 or something for the married couple now I mean it's crazy so the amount of charitable giving and other write-off she would have had to have had you know your home mortgage interest or whatever to be able to justify mathematically not taking the standard deduction you'd have to have a lot of it so but you need somebody help you have this up so just click ELP at Dave Ramsey com click endorsed local provider at Dave Ramsey comm and you know we'll help you out it's that simple this is the Dave Ramsey show [Music] hey I'm Rachel Cruz I love social media as much as anyone else but not everything we see in our feeds is reality we see a happy couple with their new truck or the perfect family photo but what we don't see is what it took to get there and if we take a step back and look at the bigger picture we see the huge payments the large pile of bills and the stress on their marriage in the truth is as a culture we've made a habit of comparing our lives to others and what's worse as we spend money we don't have just to keep up with everyone else in my new book love your life not theirs I shine a spotlight on one of the most damaging money habits that we have comparing ourselves to others when you quit the comparisons and reframe the way you think about money your money habits start to change you start developing the right habits for a meaningful life in this book I'll walk you through habits like making a plan for your money steering clear of debts talking about money even when it's hard and saving for the future these habits work and when they take hold you can have the things you want go where you want to go do the things you want to do and you can do it without the debt stress and worry that used to weigh you down but it won't happen by accident it's time to get intentional with your money so stop comparing and start living it's time to live the life you want it's time to love your life not there


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[Applause] [Music] our high health care costs getting you down are you confused trying to navigate the health insurance world do you wish you could find an affordable biblical solution to your healthcare costs based on New Testament principles Christian health care ministries are CHM helps christian families churches and businesses join together as the body of Christ to share their major health care costs as a CHM member you can go to any doctor or hospital you prefer you aren't bound by an approved healthcare provider list and all treatment decisions are made between you and your doctor no treatment approvals are ever part of the CHM experience for tens of thousands of Christians CHM is a trustee affordable and biblical health care solution and it can be the solution for you as well visit us online or call today to learn more about how we can serve your family church or business Christian health care ministries one eight hundred seven nine one six two two five CH ministries dot org hey folks I'm here on the red carpet and Santa is in the building is that right easier I'm here with one of his elves tell me your name sprinkles sprinkles the Elven you don't work here at all right I work at the North Pole with Santa that's so cool now we're talking about how Santa's debt-free exactly how much money does Santa have that's personal well it's safe to say he's an every day millionaire folks that's how he can be so generous living and given like no one else can't wait for Santa to be here right here in the seat he's on his way [Music]


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our scripture of the day Deuteronomy 6:5 love the Lord your God with all your heart and with all your soul with all your might Ronald Reagan said we're blessed with the opportunity to stand for something for liberty and freedom and fairness and these are things worth fighting for worth devoting our lives to yes they are good stuff open phones a triple eight eight two five five two two five Merry Christmas America we're glad you're here Craig is with us in Kansas City hey Craig welcome to the Dave Ramsey show hey Dave thanks for taking my call sure what's up quick question I've always hated debt and growing up remember back in high school my dad telling me that you should always have a car payment does not have the car make a car payment to yourself always put it in your bank account so growing up I was always a save them I read a book called multiple streams of income years ago it talked about passive income and that just got me burning for that I'm a heavy equipment mechanic and so I work on big construction equipment and I know that my body's gonna give out before too long I'm climbing up and down on track so I was wanting to get some passive income so we now have rental houses and I was wanting to get your take on rental property I have two rental houses plus in my house mm-hmm I do have a mortgage against all three mm-hmm they're all locked in on 15-year mortgages I got about 7 years left my house is a two and three-quarter percent and the rentals are both about three and a half percent on those houses do cash flow about 500 a month each I'm very mechanical inclined so every time I have an issue with them about ninety five percent of it I can fix myself hvac the electrical water heaters plumbing whatever i can do myself that's perfect how have you done with tenants I'm sorry how have you handled the tenants have you done well with them we've been we've been great with them no one's in there but I'm 42 what your household income today about 110 way to go doing great okay and so what are you owe on your your personal residence what's the balance my personal analysis 98,000 what about rental number one 101 is sixty one thousand rental two it's fifty four thousand okay so two hundred thousand dollars has you 100 percent debt free and you make one ten and you're 42 exactly exactly let's just start working to pay them off but you know early yeah exactly I do every time I get extra income we have two young kids my daughter is now on daycare obviously and that's expensive and we got other things going on I was listening to your show on that but thought of being debt-free just sounds ridiculously cool yeah so if I paid the rentals off I could pay my house off and be debt-free but I feel like we're in a pretty good position but you are in a pretty good position you're not about to file bankruptcy you're not stressed but you see a future that is better without that without any debt here and I do too as a matter of fact I'll go a little bit further into the future and say when all of these are paid off the cash flow will be so incredible you'll be able to save up like you did for those old cars and buy another rental with cash and the third one will be easier and the fourth one will be even easier because every time you do it you got them these things cash flow like a bandit man when you got no debt at all and and so you know if you work ten more years you could end up with a bunch of paid for rentals making 110 150 thousand during that ten years you could end up in a really sweet position so it sounds to me like you're a natural saver and that's caused you to be so successful you're very successful at this very proud of you you did a really good job what I would tell you to do to fine-tune it is a couple things I don't think you're doing a detailed written budget that you and your wife are looking at and agreeing on correct I think your natural savings personality has led you to the success but not a system or a plan and so pretend like I hired you for $200,000 to manage this money tighter and better and more carefully so let's throw it let me throw a couple numbers at you making 110 if you guys just looked at your budget and said by the time I'm 46 I could be a hundred percent debt-free that'd be fifty thousand a year for four years that's doable yeah but you're gonna have to you don't have to do that on purpose that's not gonna that's not gonna happen on accident because of your saving personality that's gonna happen only with a detailed plan and a written attack plan so I don't care if it's four years or if it's five years if it's 40,000 a year for five years you know you're a hundred percent debt-free there in your future and I'd probably knock that if I was doing 50 a year I probably not got little one off first and just get her done and and then I may not close two rentals off ahead of that house and see your paying payments in that - so you're gonna it's gonna you really have about a four year plan probably if you tighten it up you might it might take you a little more might between four and five we'll just leave it at that I don't care you work it out but you're not even 50 years old at that point all this stuff's paid for right I feels pretty good I was thinking the same way it's good to hear somebody else think it cuz you know I just need the reassurance we're doing the right thing you know labor on the right way - see I don't think your body's gonna give out to the point you can't do the odds-and-ends maintenance around these rentals until you're really old I agree now your body making a body might not allow you to do your current career more than about more than about ten more years I don't know that's up to you because that's that's hard work I mean that's hard physical work but but I mean right tinkering around with the heat and air or a dishwasher this brokes different than what you do every day right and our end goal is 55 be retired okay my wife is a schoolteacher we are just now she's two weeks away from getting her master's degree we cash flowed all that so she'll get a raise there 55 with my job I can take an early retirement with the reduced pension plus my one plus she's got her capers so how many rentals how many rent what is the value of these two rentals what's the current value one of them is about 185 and the other one is about 160 165 okay so how many how many hundred and fifty thousand dollar rentals can we pay cash for if we get these two three things these three limbs paid off between now and fifty five so I bet you could have it I'm just doing some quick I bet you could have three or four more okay so net and then at that point we're yeah we're done yeah you're done you're not going to have anything written and though the rental income off of five or six rentals yeah okay let's see you just lay the math out you can do it right it's just gonna happen me I just want you to fine-tune the plan you kind of again wandered into it by your nature which has caused you to be very successful and again I'm not dissing you I'm very proud of you for doing that but but the but but let's take it further and let's go all the way to you know let's have you about a three million dollar net worth 100% debt-free by the time you get to about sixty years old can see all these rentals are going up in value during this time and these inter these rents are going up and the more they go up and more than I you goes up the easier it is to pay cash for the next one it just gets fun it just gets ridiculously fun it's a you've gear this is this is it so yeah this guy right here this guy's right on the tipping point y'all hear it he's right on the edge he's on the bubble he's just about to go over the edge and everyday millionaire status and then once you get that then the the jump from 1 million to 5 million doing things the way he's doing it it it's again it's just common sense and you know his wife's a teacher and he works on heavy equipment I don't tell me you can't be great in America you just have to be intentional and his daddy taught him growing up you know always pay a car payment to yourself never pay a car payment to the man in other words always be saving up and paying cash for whatever you hear him say it that's that that's what led him to being as successful as he is some of you were just out there running around like a bunch of juvenile delinquents with your money and and meanwhile the rest of us are walking around like grown-ups are watching you this is just silliness now puts this our the Dave Ramsey show in the books we'll be back with you before you know it in the meantime remember there's ultimately only one way to financial peace and that's to walk daily with the Prince of Peace Christ Jesus [Music] [Applause]


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[Music] [Applause] [Music] listen up small business owners no one knows better than I do how important it is to keep track of your business expenses I remember those days if just one person doesn't pay it can throw your world into a tailspin and that's why I'm excited to tell you guys about fresh books fresh books is a cloud accounting software that makes billing painless it's ridiculously easy to use and it allows you to track time capture expenses and customize and create professional-looking invoices you can also get paid online right from your invoice meaning you get paid faster plus fresh books lives in the cloud so you can securely access it from your desktop phone or tablet wherever you are find out why over 10 million users just like you are already using fresh books start your 30-day free trial today at FreshBooks dot-com / Dave Ramsey and make sure to enter the Dave Ramsey show in the how did you hear about us section [Music]



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