Decide To Change RIGHT NOW

He's host of the dr. John Deloney show where he discusses mental health and Relationship health, and we're here to talk to you about your life and your money today. So it's perfect that he's here again. the phone number triple, eight, eight, two, five, five, two, two, five. Mike is with us Mike's in Houston.

Hey Mike. How are you? Hey, Dave, how are you doing better than I deserve? What's up?

They're allowing me to pay a rent of 400 bucks a month for the rest of the year for me to get back on my feet.

So I took it back to the dealership because my monthly payment was going to be fourteen hundred bucks a month And I was able to get into another Mercedes. That was. I Could roll that negative equity to, which was fifty six thousand, and so far I only owe thirty six thousand, but my monthly payment on the car is eight hundred bucks a month.

Just what kind of what I've been looking to see if I could resell it and get out of it.

I Have a girlfriend that I'm pretty serious with. I want to start a life with next year, and she has an eight-year-old kid. So I want to be financially prepared right now. I don't know if my debate is. should I just save this year to get like thirty thousand dollars in savings and Then start tackling my debt?

Are you getting your crap together and getting this mess cleaned up?

Like more than you know, I, like you, make a hundred and five thousand forty hours a week, right?

What is what has kept you from doing this I?

Get dude. I get a year after a divorce man. Those are messy times. you make dumb decisions. you buy a car, you get an apartment.

You can. if I get that this five years, You're 35 years old. You're about to enter into another Till death. do us part relationship, this time with a kid Like what? What, what hack are you looking for man?

You know what you would do. you would drop the weight, buddy. Nobody have to talk to you about how to be disciplined. You'd be scared out of your freaking skull and you drop the weight. Right.

Yeah, so get scared out of your freaking skull and Quit. you know, you're hovering around this Emotionally, as if it's something that is just out there, Detached from you, like discipline is gonna fly in and light on your shoulder like a bird. It's not. you're gonna have to just look up and go. I am sick and tired of being sick and tired.

I've had it. I'm not living like this. Anymore, you got to get that thing that roar coming up from inside of you, And then you don't care what your friends think, and you will work six jobs throwing boxes at night, While you make a hundred and five during the day, and you'll sell this stupid. But Mercedes. Mercedes should be driven by rich people, not broke people.

And so what were you even doing on the lot? I don't even make sense. So you got to start talking to yourself like that. Okay, and go, no more. I'm not doing this crap.

Anymore, I'm 35 years old. This sucks and I'm not gonna do it anymore. that's where discipline comes from is a healthy level of disgust. when the pain of The situation you're in exceeds the pain of change, your butt will change and Until then it won't. but this pain is an emo, is emotionally manifested, meaning you just decide I'm sick of this, and until you are, you're just gonna wander around in circles chasing your tail, like you've been doing for the last five years.

and That's any of us. man. We all do that, You know, I've told the story a thousand times. now feels like during the Fauci pandemic. I ate every doughnut in a 50 mile radius.

I looked down and they were hanging on the front of me and I went. this is ridiculous. A fat man is on the radio talking about discipline. I've got to drop the doughnuts, and you know what hadn't had a doughnut now since the Fauci pandemic, and I walk or run Every morning. this morning.

I did two miles. yesterday I did five miles before I came to work as the Sun was coming up, because I decided I wanted to do that More than I wanted to be fat, and so I decided to lose it. It's a decision. I got disgusted with myself.

Can't communicate this Strongly enough. There's not a. there's not a five-step program to discipline. There's not a super hack. There's not an app.

You have to decide and I'm not, not. not next Friday. I'm gonna start. start right now. That's when it starts.

It's when it starts. and hey, hang on the line. I'm gonna send you financial peace University. I want to send you the videos and you got to commit to watching them and I want it to seep, seep in. You're in your parents house.

You're 35.

. This is your ticket out really, but you're to be disgusted. You got to do it.

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Dr. John Deloney, relationship expert, mental health professional, PhD in counseling Ramsey personalities, my co-host. Thanks for hanging out with us. So when I was growing up, a little redneck kid outside of Nashville in the burbs, These little houses, all in a row, had a neighborhood full of kids, and the kids would read we would run in and out of the house and in and out of the house all day long and Leave the door open, and my mother would say classic things like where you're raised in a barn like no, I was raised in suburbia. But yeah, and so.

but finally, Somewhere, in the heat of the summer and the air conditioning having all spilled out of the house the heat is now full to have filled the house and it filled her head too, and Her frustration level would reach it and she would say that's it. The worm has turned.

We had no idea what that meant, except that the beatings were about to begin, and So we would all get scarce real fast and not no more in and out of the house. We were just out of the house at that point. The worm has. I didn't even know what it meant. I found out later.

It was Shakespeare who knew. mom knew Shakespeare, you know, your mom was a. the worm has turned. I'm like what? Except things are about to get ugly.

So yeah, but you know, that's what happens. This is the secret of how you become disciplined. The worm has turned. That's it. Let's Brown, the great motivator, used to say people change their lives when they finally say I've Had it, I'm sick and tired of being sick and tired, and that's.

Changing your life is not a changing your Habits. becoming suddenly disciplined and something you weren't is not an intellectual exercise. It's an emotional.

what a waste of time, right? So just go, do the thing when in doubt, go, do the thing something.

How do we go about embracing, doing the hard? Thing to get to the easy? and John, you know, you've got a great saying choose your heart. Oh, by the way, you don't know this. I forgot to tell you I was gonna tell you all fair, But I'll just tell you right now.

So a neighbor of mine came to the event we did with micro and you went through the whole. choose your heart. Okay, you can choose to. You know, lower your caloric intake and lose some weight, increase your exercise or Choose to be on the operating table for heart surgery From your obesity. Both of those are hard path.

Both are hard. So choose your heart. You said you did a whole talk on that. So my neighbor, who's a good friend of mine, was in the audience. He has lost a hundred and fifty pounds since that talk.

No way. It's all because of that. Wow, You're talking, he says I. he said it clicked. it made sense to me.

I was with him last night. Wow, And he's a great guy. That's incredible. Yeah, he was, he was big. Yeah, he has lost up.

He's lost a backstreet boy.

James little pet poodle dog. He has that's a main James and his dog. But I think the illusion is.

your broke friends are going and spending money They don't have. it's hard To live on a controlled budget like a grown-up Instead of a child that acts like they live in Congress and they spend whatever they want. It's hard to do. the discipline is hard, But you got to choose your heart, because otherwise you're gonna be broke and it's it's hard bro.

That was a shameful, embarrassing call. I made it 26 years old. like that's hard too, right?

. Oh, yeah, that's hard wanting to marry somebody and saying

By default, you're gonna be working in McDonald's or be a Walmart greeter when you're 68, Because you didn't choose the hard earlier.

No discipline seems pleasant at the time, but it yields a harvest of righteousness. Chloe is in Grand Rapids changing the subject. Hey Chloe. What's up?

And we have a beautiful little baby girl. She's 10 months old and I was wondering your opinion on Whether or not I could basically go part-time.

Definitely. However, I mean, we're currently. we're in a house that we don't want to be in for the long run And just looking ahead, I guess maybe I'm coming from more of a place of fear. Just watching them how the economy is.

I'm a school psychologist and my husband. What do you make a therapist? I Make about sixty two thousand full-time. Okay, if you go to part-time,

No judgment at all people who work full-time. moms who work full-time are not bad moms by definition.

You don't have unlimited funds.

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Dr. John Deloney, Ramsey personality, is my co-host today. John is with us a different John in Salt Lake City. Hi, John, welcome to the Ramsey show.

Hey, I wish I would have met you two months ago. I Hadn't really known about you and what you Talked about, which I really agree with. I went and bought a new car about a month and a half ago for $54,000. it will taxes and everything was 57.. It was a big regret, Because I know what you teach about buying new cars.

you shouldn't do it. I'm wondering if it's worth it. It's got 1,800 miles on it. I can only sell it now for about 48,000. so it's taken that big of a hit immediately and If it's better to take that hit and try to buy a used car, or should I just stick this out?

Learn from my mistake. What would you recommend on that?

About 1, 1 million. Okay. Well, we tell folks not to buy a new car unless you have at least a million dollar net worth. So you didn't violate that. And what's your household income?

Well, please, smart man, You know the federal law wife gets the good car. All right, and so yeah, and What are you driving? What's yours worth?

The other rule of thumb is don't buy things with motors and wheels all combined in your life, because they all go down in value That equal more than about half your annual income, and you haven't violated that. you're right on the bubble though.

so, you know, like I've got a friend that makes 15 million a year and He drove up in front of my house in a $400,000 car the other day. Well it, you know, that's nothing to him, But it's it's obviously a lot and it's obviously gonna go down in value faster than yours did. and so, Because they'd 400,000 doesn't go up either, they go down too. So You know, but he's, he's no Dumber than you are, or I am, or you know anybody else. because of that, because of the ratio of 15 million to 400 is A lot smaller.

It's like someone buying a $4,000 car that makes 150,000 a year. That's his ratio. So his ratio is excellent In that regard, but anyway, so that that whole idea is to just keep people from doing this. So I wouldn't shame you on this at all. I mean the only thing, the only shame I would have.

you know, you went through this whole thing. I wish I met you too. Well, I might have told you to buy the car if you call me, and hadn't bought it, Because I think you can afford it. you pay cash for it. You've got a million dollar net worth.

the total of your vehicles is not more than half your annual income. It's right around it, but it's not. it's not killing you. It's not. you know, you're not over in the stupid column.

You know that kind of stuff. So I think you keep and enjoy it and don't shame over it.

You know that was right on the bubble of whether you buy new or not. But it's just a car that it has a reflection on the windshield. She drives it mostly, but it's just. it's just not Not a car that I would buy in it. and you know You teach about that being together in the marriage, on the financial decisions that you'd be together, on Even the purchase of a car, right, even though she drives it mostly.

Yeah, but hold on, you're you're putting.

Because you hate this car and maybe it wasn't a car you would have bought. but you're more frustrated that You feel like you've lost or that y'all that she overrode you like y'all.

Sharon wants it, Which is one of the one of the rules in our house, right? And so I I acquiesce on that. I don't have to be completely aligned on Every single thing and I won't walk into that room and hate the light fixture. It will disappear, because light fixtures do disappear. Once you buy them.

you put them up and no one sees them again. You don't? people don't walk around. go. Oh, there's a light fixture.

people don't do it. So and that includes me, and so I will be fine. I will forget. the stupid thing is there after I've lived in the house 20 minutes and so move on. And so you don't drive this car just because you don't like the car.

You know, don't, don't go through all these financial gyrations to go. I got a hole now, I got her. now. I got a way to get this car sold. No, no, no, no, no, no, no, Yeah, you also don't have that hard conversation.

Yeah. Yeah, but when we say you should be aligned on your money, It doesn't mean you both have to enjoy and every exact thing exactly the same way. now, If someone is completely diametrically opposed to something for a good reason, we don't do it. You know one of us, you know when in doubt we don't, one of us is standing up and we're just going. no, Cannot do that.

It's awful. I can't stand it. We're not doing it. and Then that's what that's being aligned. but you know, you buy something that you really love and I really don't care for.

but I Care that you were gonna enjoy it. then I can do that. That's a line too. Exactly.

so you're going with James. No, James is gonna be at home. Even I have standards. Yeah.

He's gonna be writing sad poetry about his dad in the corner.

I'm just trying to see it like. should I take the rest? I'll just to pay off my?

No, here's why how much is in your 401k 7,000?

. Okay, so you're in 25% tax bracket.

So no, you don't do that. You take an extra job, you get on a tight budget and you clean this mess up And quit spending every Friday night out doing something else. go to work. That's how you clean the mess up, Ben. This is the Ramsey show.

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Megan is in Salt Lake City, Utah. Hi, Megan. Welcome to the Ramsey show.

400, it's going to 800.

It's not. these aren't standalone homes. Okay, that's what's going on, okay. All right, what a mess.

So how much equity do you have?

correct the.

Yeah, I'd sell it. I'm with you on that. you got a hundred thousand or so in equity. how much debt do you have?

you're either renting or you're buying. so your old interest rate doesn't matter. It's gone. You sold it. Okay, you're gonna buy.

if you're gonna buy, it's gonna be at these current interest rates.

and and listen, I, Megan, I got a feeling this has been stewing and Running around like you bone. You know, you guys have been Dealing with the unknown and the stress of this whole situation for quite some time, and I'm going to encourage you to list your house by Friday. No more wringing your hands. No more worrying. No more wondering.

make a decision. Your anxiety level will drop immediately. But you guys have been kind of hanging up here in this, in this constant level of angst, for a long time over this issue. And now you've come to the conclusion. It's coming.

So act on it and you will see your.

No, it's not that way. Well, but what you're saying is so yeah, $2,700. what you're saying is paying off all the debt, all the car notes, everything you're gonna end up paying off a thousand dollars a monthly. Yeah, stuff coming out of your house. And here's the thing.

That's it. so it's. it's just the math is Focus, there's. no, there's nothing here. Nothing's happening here, but there's so much small and fire about the interest rate.

Yeah, but it's like. Yeah, it's, it's a hundred bucks a month in your situation, because you paid off your debt instead of putting down an extra 50. That's what it changed it. And so, zippy, You know, I mean in the scope of your life, that's not the problem. You got.

you got a lot of bigger problems. Get this house listed. so, John, talk about the idea that when there is that, the unknown or the Sitting on the fence on an unmade decision is more stressful than a hard-made decision.

People, oh,

From the headquarters of Ramsey solutions, it's the Ramsey show where we help people build wealth, Do work that they love and create actual, amazing relationships. Dr. John Deloney, Ramsey personnel, PhD in counseling, best-selling author, host of the best Best. listen to Ramsey Network show. I can't even get it out.

It's called. Oh great. It's just amazing. the dr John Deloney show. the numbers are Ridiculously up on that show, hockey sticking up into the right.

So thank you guys for listening to his show and this one. We appreciate you joining us. open phones here at triple, eight, eight, two, five, five, two, two, five. Demarie starts off this hour in Miami. Hey Demarie.

How are you? Hi, Dave. Good in you? good, better, not deserve. What's up?

So my question is should I go where the steps like? what's the process if I do go?

. So I just haven't paid it.

Where's it what? I'm sorry, what's your household income?

Yeah, okay. All right. I am not an expert on Florida law. a Pretrial conference on a $7,000 credit card is highly unusual. I've been doing this 30 years and I've never heard of that.

So this is a new tactic of some kind That the collections attorney is using. what? what is the date on the pretrial conference?

m

If that occurred with me, what I would do is call the attorney that is suing you and Start negotiating a payment plan or a settlement.

You violated the contract. you're in default, done Guilty, okay, and so you, there's no argument. It's just like I don't have any money.

and he's gonna say oh no, and you say oh, yes, He's gonna say oh no, and you say oh, yes, and you argue about it until you settle on a number, right? Yeah, and then you go get that number before June 10th as settled in full and get a written release in-writing from him or her to call this case closed.

It's gonna take about 30 seconds before you're done, Because there's. you know, there's no, you, they didn't do anything wrong. You're the only one did something wrong. You just didn't pay the bill. And so they're gonna get you.

It's that simple. and then they're gonna take a and they're gonna take a judgment lien for whatever the amount of money is. and then, If Florida allows it, I guess Florida does they're gonna garnish your wages and then they're gonna attach put liens on your house And whatever else. so you better go, get some dad-gum money together and do a lump-sum settlement. boom three thousand four thousand twenty five hundred somewhere in there and settle this five-year-old seven thousand six hundred dollar debt and settled in full in writing before June 10th and just become a nuisance to this attorney until they do the deal with you, and Then become a nuisance to yourself until you scratch together the money and get this done.

so, John, in 30 years of doing this, one of the things that I see most often is

If you take care of something when it's a problem instead of ignoring it for five years, or ten years, or 20 months, or whatever it is the level of problem. It would. she could clear this up Five years ago by busting her butt in the middle of the Fauci pandemic. There was stuff people were doing in Florida. Florida was open and you know There's a lot of stuff.

you could have done taking care of it then, but now, five years later, We're still talking about this one. My husband lost his job. What freaking five years ago. If you take care of it back, then you got one-tenth the problem. You magnify your problem by ignoring it 10x minimum.

Whatever the problem is an old landlord dispute, whatever it is. You cannot ignore this crap. You got to take it to ground. This is the Ramsey show.

Dr. John Delaney, Ramsey personality is my co-host today. This is a show about you, America. The phone number is triple eight, eight, two, five, five, Two, two, five. Well, it's tax time.

So folks got questions about taxes. The only question I can't help you with is how to deal with your rage, Because I haven't been able to figure out a way to deal with mine. So, my poor tax guy, he has to bring me bad news every year. the bad news is is that I pay our Ridiculous government a ridiculous amount of money. and what do I get for it?

Anger, now you get ridiculousness. It works. Oh, I bought it. That's right. I bought and paid for it.

That's it. There you go. Hey, question of the day for taxes. What's the difference between a tax deduction and a tax credit? a tax credit?

100% applies to your tax bill. So a $1,000 tax credit reduces your tax bill by $1,000 tax credit much better than tax deduction. 3x better, because if you take a $1,000 tax deduction, That means you lower the income that is being taxed by $1,000, and so if you're in a 30% tax bracket, it actually saves you $300 on taxes. So a tax Deduction is worth a quarter on the dollar. roughly a tax credit is worth a dollar for a dollar, And that's the big difference you're looking at.

so If you're confident about filing on your own because you got a simple return, You can go to Ramsey solutions, comm slash tax and get our Ramsey smart tax software. It's very inexpensive to use and we won't try to sell you a bunch of crap like turbo turbo tax does? they're awful. Did I say that out loud? I just did.

Yeah. Okay, because it's true. if you've got a complicated return, Go to Ramsey solutions, comm slash tax and click on the ELP, the endorsed local provider, an Individual person in your area that has the heart of a teacher. that will help you do your complicated return. The fees are obviously more to do that, But you get a very personalized experience and you don't need to do that If you've got a simple return.

if you're just doing a 1040 easy, don't pay somebody 400 bucks to do that. That's silly, Okay, but get but for sure, you know, spend 20 or 30 bucks on some software, right? That's the deal. So Ramsey solutions, comm for Ramsey smart tax or for the ELP in your area, Katie's in Springfield, Michigan. Hi, Katie.

How are you?

He only makes like 44.

. He just got a race. So now he's making 45,000, but we have a child. Well, we have six kids, but one was severe special needs, severe autism, and we are just busy with him all the time and I can't. I used to do daycare in the house to help out and things like that, and I can't do that now.

I can't go get a job. My husband wants to be home more to help me with the kids, since it is a high-stress situation. So we just we're having a hard time ever making enough to Get anywhere, and right now we're on Medicaid and food stamps and as soon as we make a little bit more, Then we lose those and then we, you know, we're kind of just stuck the same spot all the time.

you guys have a lot going on. I'm sorry, man, I mean you. You're a warrior girl. I'm proud of you And you, you're carrying a tremendous burden. and But so the answer you're right.

The answer to the equation is income. and How do we get income up? Well, we have to have some aspirations To do something other than welfare. And so we have to say, okay, What do I want to be doing ten years from today? that makes a hundred thousand dollars a year?

The average household income in America is 43,000. I'm sorry, excuse me. You make 43 is 73,000. Okay, so by definition not by shame, But by definition, you are in a lower income household with six kids. That's that's like a factual statement, not an emotional statement.

Okay, and so how do we fix that? Well, obviously, we change the income, because we're not going to change the number of kids, right. Yeah, so that, so, you know, this amounts to Career counseling for him. that says okay. What is it?

You can do? What is it? What classes do you need to take? What tools do you need to put in your belt? So that you are worth a hundred thousand dollars a year ten years from now?

and the path Between 43 and 100 is not a singular jump. It's a progressive jump. And so the income will be going up Consistently every year, year over year, as he moves through the apprenticeship or as he moves through the training, or he finishes that that two-year degree at the Community College or whatever it is, but he's gonna have to figure out what he wants to be and What it takes to be one of those, and then get about the business of doing that. Sitting there, doing nothing, fixing coffee makers, is killing your family.

Yeah, it's hard. the stress is in your voice, and I don't blame you, and he's not doing anything wrong. He's not a bad guy. He just doesn't know what to do. So I'm telling him what to do.

Yeah, what he needs to do is he needs to set a very clearly defined goal To do something that he actually does enjoy and has the capability to do With maybe some training or maybe some classes or a certification. I don't care What it is? But you can go to six months of code school while working full-time and make $100,000 a year.

But the end of the equation is, yeah, there's gonna be more money at the end of that rainbow, and so we need to really clearly define and set some goals, because The problem, the problem, is not that the heart. things are hard. The problem is that things are hard and we don't see how they're gonna get better. Yeah, that's what. that's what makes it triple hard, and so when I can go through hard, if I see my way to better and.

I hear a mom who's drowning and a husband is like, ah, we're good. and Maybe I'm too. I'm getting calloused in my old age. But, man, I, he doesn't see a path.

So, Katie, I'm gonna send you Ken Coleman's career assessment for your husband to take, And I'm gonna send you his book from paycheck to purpose. I want him to read that book in the next three days and I'm gonna take that, that Assessment tonight when he gets home, because we're gonna send it to you by email right now. It's a link, and he's gonna start discovering what he's gonna be when he grows up.

Dr. John Deloney Ramsey personality, is our co-host today. Today's question comes from Patrick in Minnesota.

We give them money when needed, basically supporting their family at our expense. We've been blessed due to hard work, planning for the future and making sacrifices along the way. Is it okay to cut the cord so we can enjoy our retirement and not have to worry about their lack of budgeting? No, Patrick. I'm sorry.

You got to keep paying for everything for them forever.

I Could even say a straight face. I tried yes, Patrick. You should have cut it a long time ago, a long long time ago. Yes, it's time. It's time.

Have a big family meeting. Don't just ghost your kids. Have a big family meeting and say Mom, and I are no longer Paying your bills. We're retiring. We're on a limited now.

We're on a fixed income and It's time for all to grow up. Yeah.

sorry, I Bet as he typed this. sorry, not sorry. He was, he got upset. You know what?

He's trying to get us to give him permission to tell his wife that she has to quit being an enabler, ah, Boy on bet I.

and That question had never entered that person's mind. It was like Michael Scott declaring bankruptcy, like I declare bankruptcy. It's like. that's not how that works. And so Maybe sitting down and saying hey, we're gonna retire in nine months, let's let's see what this is, what our life's gonna look like, how much money we're gonna have for things.

and Maybe the math will help. your argument probably not, but maybe it will help you create a world where This is what our world is gonna look like. this is what we're gonna have, and this is the discussion with your wife.

is our sending you money. It's retiring to not happen anymore. done and love you, Want to see you all the time. come over. if you're really really hungry, call.

We'll make dinner, But short of that, weren't? that's it. I mean you'd be on your own. And well, your grandchildren me, my grandchildren gonna be fine, and you're gonna be fine, too. People have done this for generations, like stood on their own two feet and stuff, and now you guys get the opportunity to do it.

It's pretty cool thing. So yeah.

But we're staring down all these potential repairs and a potential surgery for me down the road And we're not sure how to approach stuff.

It's gonna be amazing. Yeah.

you just sell it.

The things are all still functioning. They're just. they're just on their last leg.

Because then you're putting what's the last two legs of your house, I don't you just put a shiny or the silent move.

Renting is not $100,000.

Right that you don't have, And Amanda can ask you and guess what if the water heater leaks when you're renting, you call the landlord and he fixes it.

Yes, yes, here's how I know. Yes, I can tell, and I know that because I've been you and when you get anxious, you start forecasting all of the potential calamities coming your way, and They feel as though they're happening right now.

Okay, I think the quality of your life is going to go up considerably when you move.

It's not.

You can stop this particular top from spinning by putting this a sign in the yard tomorrow, or You can look at each other and make a checklist and say alright, Nothing's broken yet, and we'll have to deal with this someday. We love this house. We love this location. We're gonna knock this dead out.

Nobody does. everybody moves. I mean really the number of people that live in a house 60 or 70 years is almost zero. Average house flips every five point, six years in America. So yeah, hang on the line.

y'all are focusing on this one thing and it's all coming down. It's not. it's not. It's a problem to be fixed, but it's not all coming down. I.

John, in that you one of the things you talk about, that what four or five things that we have to do, right?

and so really the book is about. go all the quit playing that quit playing whack-a-mole, put the little hammer down and go back Over there and solve these other bigger issues. and she alluded to it in the call. Just asking. Hey, is everything else?

Okay? No, it's not, like there's a lot of stuff falling apart. and the beautiful thing about our bodies is, man, It'll try to get our attention and let us know things aren't okay. And if you don't, if you don't listen to those alarms, man, They'll start ringing real loud and you'll think everything's falling apart on you when it's really not. Yeah.

It's got some challenges. What is true is yellow? $50,000. let's get that knocked out, because that's keeping you awake at night. The second one, like another one, is choose freedom.

They don't get to make choices that they want to make because they owe $50,000 right? so the the quicker we can unhook from other people telling us how we're gonna live our lives and what we're gonna do.

Yeah, so it's, it's. it's dealing with these things way upriver, So that your body doesn't have to spend its time trying to get your attention all the time. Yeah, and.

Get you another stupid house and rent somebody else's stupid house until you can get a better deal on a stupid house. It's a stupid house.

But we're getting all. we thought we're not, and you know, We were lived there 13 years. It's a beautiful home. It was a magnificent home. It's a showplace, and We thought that's it.

You know, we've arrived. That's it. We're on top of the hill. We did it and we're done. and then these people started moving to Nashville and They started paying ridiculous numbers and I sold it to one.

And.

me and the little dog both need our walk. So, shut up. if I saw you, I would say you okay, sir.

I.

You're a good person, Michaela. All right, so you're going to do good in the world. I'll be quiet.

So I don't want that debt hanging over our heads, but that basically means that we're going to be completely debt-free By July, basically when everything sells, And we're going to have about three hundred and fifty dollars in our pocket, or 350,000 in our pocket of just cash. So the question is, do I take that and obviously I'm in school some way for an emergency fund, because at that point we'll be done with baby steps to, and Then do we stick the rest of it, the bulk of it, into, like another house out there, because we're going to be there for a while? Or do we Think that into retirement? do we? or do I'm just not quite sure what to take?

Worded, what to do with that bigger lump sum? if that makes sense how long you think you're going to be in a way.

Well, we've been debating going over there for quite some time before the situation got bad with my husband's dad, Because the area that we're going to is the Big Island to Kilo side, and we really want land.

But no, you really, I would just invest there and get you know, get rid of the debt as fast as I can.

Hopefully. I don't really know exactly what you can.

. Okay. Yeah, so pay off the mortgage in like three years. That'd be awesome. Yeah.

We're not really sure how that's gonna transfer to Hawaii every different.

This is how you. this is how people call me back. I'm only moved and then, six months later. He can't work and it's got the license, didn't know? God?

don't do that. Get it all straightened out, or you go, kiddo, Line it up and push the dominoes. This is the Ramsey show.

Live from the headquarters of Ramsey solutions, it's the Ramsey show where we help people Build wealth, do work that they love and create actual, amazing relationships. Dr. John Deloney Ramsey personality is my co-host today. He's the number one best-selling author of the latest book Building a non-anxious life. He's also the host of the dr John Deloney show, which you ought to check out on the Ramsey networks because it's insanely Popular.

all right Scott's in Roanoke to start this hour. Hey Scott, how are you?

Well, I have a 18 son that starting college in the fall. Mm-hmm. He's actually transferring from a junior college to a four-year college And I got to looking into housing for him and.

I Thought it might be a good idea, a good investment to instead of paying the rent that I'm gonna have to pay there. It's at a, It's in Richmond, Virginia. And so it's a kind of an urban campus, you know, with an urban setting, that it would be better for me to buy a House and rent it out to three of his friends. Mm-hmm.

Thought about that. you can't get the smell out. you'll have to burn it down.

Man, You know, I looked at the exact same thing when our kids I had three kids go through the University of Tennessee in Knoxville, Which is about 200 miles from us, and Richmond's up. what a hundred miles from Roanoke, right?

and So what I ended up doing was I bought a condo for me.

To stay in when I went on the weekends and I didn't let any of them live. I paid rent for them to rent a house because I didn't want to deal with all the headaches and the liability of what 18 of What a college student could do to hurt themselves or someone else Doing ridiculous things that I just have memories of me in college and I didn't want to be renting to that guy.

And then I got to clean up the house and rebuild it and put it back on my market after it's all over and try To sell it. and I just decided it really wasn't a good investment Because it brought to with it too much risk and too many headaches, Even though it pissed me off to pay rent because I had three kids in college. Never at the same time. So we were down there for like a decade Plus right, and if I don't you know, I had the two girls in there first and Then, and they were there somewhat at the same time, and then Daniel would have gone down last. and And I and I did have good kids and I don't think they would have torn it up and your kid probably won't tear it up, but I would have a bit of it me, but um, are the people I ran around with?

for sure, but the I Made the decision. It wasn't worth the headache that the the juice wasn't worth the squeeze. Go ahead of mine to for the risk and everything else, even though I wasn't looking at one kid I was looking at really a decade worth and I would have made some money versus the rent, but But not much for the time and the headspace and the resources it would have taken up to screw with it.

You know, lost his life. he was downtown partying and You know, They couldn't find the kid for a while and his parents were looking for him. everybody's panicked and he was from out of town and came to Nashville to party and did party. and then, You know, something bad happened and they found his body later. And I, just that kind of stuff just scares the crap out of me, right?

So I I don't think you could have enough insurance for that. So I I don't want to own that property, that that kind of stuff, something like that, weird. No, I wouldn't do it, Scott. all that to say, I didn't do it. I was faced with exactly the same choice and a reap and more reasons to do it than you did, because I had a longer time horizon Ten years worth of this stuff not and three kids worth not just one.

but I did buy a condo and I didn't sell the condo when we quit going down there, when I gave her the football tickets and all that and Made some money on the condo, so that worked out. but nobody ever lived there. No, none of the students, no college students lived there. no college students were harmed in the making of this film. So there we go.

Larry is with us in Orlando. Hi, Larry. How are you?

You're welcome. I have a question, my kind of my personal history. I've kind of works, Martin and so forth, smart, not hard, Hard, not smart. and so I divide my personal life financially into two categories, using historical term BC before Common-sense and a, be after Dave. and being when I heard your show, I kind of like the light bulb came on and I started going as you term it, because that one tense.

And so for like the last, I'm retired right now. So good. I mean, I was not just over 67, But up until like but 9 foot. I wouldn't do that because, Elmo, that's going crazy. Saving up and work, an extra shift, picking up side gigs.

So you've got a huge net worth now. Well, I don't know if it is. I got how much. what's your net worth? Like?

I see it's money. I'm holding in a CD again, 5.6 percents, 240,000, about 80,000 in my savings, about 80,000. pre-date stocks, pre-date stocks. me guys, Barclays, sounded cool And then in my retirement, like well 1 million, 150,000, I thought so.

I'm now investing for the next generation and the next generation. after that, the godly man leaves an inheritance to his children's children. Proverbs says so yeah, just keep keep building it up. That's fine. But you don't have to do it at breakneck speed.

It's just being intentional, Not intense. there's a difference. and let old Larry off the hook. You've caught up. You've done good.

Oh Larry's, he's gone. new Larry's, awesome. Good stuff, Larry. Well done.

Dr. John Deloney. Ramsey personality is my co-host. Well, if you didn't know, it's National Financial Literacy Month and we celebrate that big time here at Ramsey Solutions, because ever since I very first wrote a book called financial peace, people have been picking it up and going Why don't they teach this stuff in the high schools? Why aren't we taught this stuff when we're kids?

and that's a really good, excellent comment. and so we fixed that a few years ago and We put together a thing called the foundations and personal finance by, of course, Dave Ramsey and Ramsey solutions, and it has now been taught in 48% of the high schools in America and Over 6 million kids have graduated from that class over the years. lots of great teachers teach this across America. So we celebrate National Financial Literacy Month by doing just this. and you know who makes that possible great teachers That choose to teach this curriculum, great administrators that choose to let their teachers teach this curriculum, and then your kid doesn't get out of high school and not Understand basics about finance and go make stupid mistakes, like most people do, including me.

So there you go. One of those great teachers is Travis. Travis is from Aiken, South, Carolina, And we wanted to jump on the phone with him. Travis is one of these hero teachers. Hey Travis.

How are you?

. Okay, and uh, so you teach one class of this a year or what?

We teach, another teacher along with me teaches this class and This year we teach about a hundred and fifty students. next year. Yeah, next year. It's going to be a Requirement. well, I guess it's a requirement this year for graduation, starting with the incoming freshmen in South Carolina.

Yes, it is. Yeah, that's great. And uh, yeah, so we're going to be teaching a lot more start next year. I think there's Almost 300 signed up for next year. Very cool.

Yeah.

any of them ever circle back and tell you a success story, what they learned and what happened.

That's one of my favorite videos doing the curriculum is When you explain how you've made some of your choices going to college. so that was That's certainly one of the fun parts of the curriculum. Well, I appreciate that. Thanks, man.

Thank you. Thank you so much for teaching this class. Travis is a teacher in Aiken, South Carolina, at Aiken High School, and one of the heroes out there that's teaching this foundations and personal finance class and the other heroes, the local financial guy there. that's been funding and sponsoring the curriculum so everybody could go through. and now, of course, as he said, South Carolina has adopted this and made it a requirement, and so We're signing up schools in South Carolina, or one of the approved options for schools to meet this requirement, And we're signing up schools left and right.

So if you're in South Carolina, tell your school they should use ours. Hey Well, they should. it's the best one, right. So what? why would you use anything else except the Bentley?

don't don't you know? Don't drive the $1,400 car. drive the Bentley, and I mean schools paying for it. So get the best. This is a good stuff.

So cool. Hey, and by the way, we're also celebrating by doing a big teacher giveaway. any teacher that's out there listening, Be sure and enter the Ramsey teacher appreciation giveaway sponsored by Ramsey education. one teacher is going to win a $5,000 vacation and two more teachers will each win a $3,000 vacation. go to Ramsey solutions comm slash teacher to enter.

There's no purchase necessary. You don't have to be teaching personal finance to do this. That's not the point where you just want to honor teachers and teachers work their tail off and the ones that need a vacation.

And I thought, Dave, you should make a education product for Congress.

All of them, looking at these kids, been like y'all should learn how to spend and save money, be like, yeah, And so should you pot meet my friend kettle?

That would be fantastic.

I Promise you I could, if I just started getting up a little or they call it, go fund me an FPU Congress edition. I go fund me for just sending all of them total money. makeover books, They, they that would. I would get so much money in in the first one.

Dr. John Deloney Ramsey personality, is my co-host today. Thank you for joining us America. open phones at triple-8, 8 to 5, 5 to 2 5. Jeremy is with us in West Palm Beach, Florida.