What To Do When You Feel Overwhelmed About Money

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 amazing relationships. I am, Rachel Cruz, hosting this hour with my great friend and Ramsey personality, Jade Warshaw, and we are here to answer your questions, again, about your life and your money. It is a free call anywhere in the country at 888-825-5225.. All right, we're going to go to the phones at this hour, and we have, is it Deanne, possibly, in Dallas? Hey, welcome to the show.

Thanks for taking the call.

Absolutely. How can we help?

So, I'm a new listener. I just came across you guys recently, and heard you giving some great advice, and hope that I can get some as well. So, I have a pretty significant student loan debt, about $230,000..

What did you get your degree in?

Business, administration, and it's a master's, too, so it was two degrees, but still quite a hefty tag. And then, I have, basically, no savings or anything, so I'm just trying to understand how I can maybe chip away at this and get myself on track. I'm 49, so I'm like, I don't know if I'm in a good position.

Is it just you? Is it just you, or do you have a family, married?

Married.

Okay. And does your husband have any debt, or just this one student loan you guys have together?

No, just this one student loan.

Okay. Well, what do you guys earn?

I earn about $170 in base, but I also have an annual incentive of another 20%, so maybe $50 to $60.. And then, I do have these stock incentives that I can cash in once a year.

What can you get?

But I've...

Mm-hmm. Sorry, what can you get if you cash in the stock incentives?

It just depends on what the stock is trading at the time, but probably around another 20 to 30 a year.

What about your husband?

He doesn't work right now.

Okay. And why is that? Sorry, I'm hitting you with the questions, but I'm trying to get a clear scope of what's going on.

Yeah.

He just hasn't, but he's trying to start his own business, so we're basically a one-income family right now.

Does he feel... How long has he not been working?

About two years. What?

What? Okay. Is he feeling the weight of this debt?

I do.

I don't... I know you do. You're calling.

It sounds like you guys have kind of a separate thinking when it comes to money and debt. It kind of sounds like that from the way you're talking. And I'm just going to be honest, I don't like that. this guy hasn't been working for two years. I'm all for starting a business venture and going out on your own, but I do think that you have to be making a certain amount.

Because the truth here is that with the extra bonuses that you were saying, I mean, you could make $230,000 in a year. So here's what's wild, is what you could think about. If he went and worked and he made $60,000, that's it. You guys could live on that. You could have this paid off in 12 months, and that's not even side hustles that we could get into.

That's a little different.

Yeah. There's reasons for people to have a one-income household, but there's also people that even have that situation, that choose to go to work to get it paid off, even if they want to be. But for you guys, I mean, and so to me, again, the bigger problem is that you guys aren't on the same page. I agree. Because if you're on the same page, you could knock this out in a year versus three and a half years.

100%.

What can we do to work on that? And if he can't come to the table, because some people cross their arms and like, oh, that's up to you, then it becomes a marriage problem and it's not a money problem. So you start to see these layers of what's happening, but I think it's really important for you to recognize that, because you can just fix the money thing. You can get out of debt in three years if you just sacrifice on... Right.

But the good news is, even if he never contributed, you're going to be sitting in that average spot where you pay it off in 12 to 24 months, and it's going to be gone and behind you, but I...

We want something more for you.

Yeah. And there's something about you working together to get it gone, because if you just say, whatever, I'm going to use my income. He doesn't have to know about it. I'm going to pay this off. There's always going to be that thing between them.

Yep. So stay on the line. We're going to get you that. And my hope would be that you guys could walk through these lessons together, watch them together, start these conversations, because again, a plan can happen. So hear us say, you can pay this off.

Hey, got it right here. And there it is.

Yeah. So you can actually pre-order it right now, you guys. It is brand new. It comes out December 5th, which is coming up, which is so exciting. So it's only $10..

That's right. They do a Q&A.

Yeah. So you can do that. And I love this, you guys, because it's a quick read. And so for you all out there that are like, oh my gosh, it's kind of intimidating to dive into all of this. And I don't know where to start.

Read it in two hours.

Yes. You're going to relate to it. It speaks exactly to the problem that so many people are having, is that personal finance, it's 20% head knowledge, it's 80% behavior. We are the ones that we have to control. And gosh, Jay does a beautiful job walking through that.

It's a you problem. It's what you believe. It's what you believe.

Absolutely. So make sure to check that out again, ramsaysolutions.com slash store.

If recent times have shown us anything, it's that the least expected events can and will happen, and we have to deal with them. That's why everyone who has a family counting on them needs term life insurance. For over 25 years, the only company I've recommended is Zander Insurance. That's because Zander is a broker that works for you. They search all the top term life plans out there and find you the best rates and make the process of getting coverage quick and easy.

Welcome back to the Ramsey Show. We are taking your calls. Again, it's a free call anywhere in the country at 888-825-5225.. Up next, we have Jack in Boston. Hey, Jack.

Hey, thank you guys for having me on.

Absolutely. Thanks for calling in. How can we help?

So, I am a recent college graduate. I'm 22.. I just graduated this past May, and I started working this June. When I was originally making plans for this year as I'm entering the workforce, I had taken a job in the Boston area, and so I had a few of my college buddies. And so there's three of us, and we signed a lease, and that's currently where I am.

How much student loan debt is it, and how much is your car?

So the student loans are about $27,000, the car is about $22,000, and I make $72,000..

And you make how much? $70,000?. $72,000, yeah. $72,000, okay.

If it were me, I think that you have a great income. starting out. I mean, to make $72,000 starting out at 22 years old, I think it's excellent. I don't think that your rent is especially high. It's not like you're like, oh, I'm spending $2,000 a month.

Yeah, sure. So, you know, each month after I make all my payments, I save around $800 to $1,000 already.

Oh, good.

That's good.

Yeah. Jack, okay, so this is always kind of a tough question, because mathematically, it's like, you know, you would think our answer would be like, absolutely, whatever you can to reduce expenses and throw as much of the debt, yada, yada, yada. But what that doesn't factor in by just kind of like using that escape and using that plan, is that there is something to be said about that. Jack signed up for the student loan and Jack signed up for the car loan. And so Jack needs to figure out how to do this.

But it's not dire straits.

But I do lean towards. Jay. There's a part of me, Jack, that I'm like, I think you're a grown man. And I think that you can figure this out. I think you could take a side hustle at night to bring in some more money.

I just like you having your freedom.

Yeah, and not moving back in with Mom and Dad. It just does something to an adult mind. And I always use this example. It's kind of a stupid one. But when you open up the refrigerator and there's no milk and you don't have bread, and you're like, oh, man, I have to be an adult and I have responsibilities and I have to figure out how to make life work.

Yeah, Mom's going to go get the milk.

Yeah, you're going to be taken care of, which is fine. But I think it stunts a level of this personal responsibility and being an adult. And if you start dating and, like, I don't know, just all this stuff, just moving back home.

Look, the dating. It's the dating for me, Rachel, because I would be thinking the same thing, Jack. Like if I met you and I'd be like, Jack's great. And then I'm like, wait, but we're going to your mom's house. There would be just this little piece of me that I'd be like, oh, man.

I am, yep. So my employer matches 4%. So I put 4% into 401K and then another 6% into a Roth IRA.

Okay, so just a piece of advice, and this is the way we teach. Right now, you're giving away 10% of your income. And if it were me, I would pause that temporarily and get that money back in my hands so I can quickly pay off this debt. By the way, even if you did choose to go to your parents' house and live, I would still do that, because the whole point is let's get this debt wiped up as quickly as possible. And then, when your debt's gone, you'll have so much more money that you can be investing another 5% when the time comes to be investing 15%.

Yeah, so if there's anything extra, Jack, just throw it on this debt. And I think you can do this. I think you can get out without having to move back home. I understand, again, the math side of it. So if that's what you choose to do, it's not a completely wrong decision.

Right.

But there is something in the holistic picture of who you are as a whole person that I think there's something about just being on your own and figuring out that I think it's great. All right, up. next we have Gracie in Salt Lake City. Hey, Gracie. Welcome to the show.

Hi. Thanks for taking my call.

Absolutely. How can we help?

I have a little question because my – well, okay. Sorry, I'm kind of talking in circles here. So I'm wondering if I should get life insurance for my daughter. She's 10 months old. My mom got life insurance for me when I was a baby, which is awesome.

Yeah, for sure. Okay, so a rule of thumb is that your insurance and your investments should always be separate. And usually, when it comes to children getting life insurance, there's a level of whole life in there, there's an investment vehicle within it, and it ends up being an entire financial product. that is always – it's not a good product, essentially. Because what you want to think about with life insurance is that if someone is dependent upon your income, you want life insurance.

Right.

They're not dependent upon her.

The whole purpose is, if something, God forbid, was to happen to you or your husband, you want to make sure she's taken care of. Because right now, you guys provide everything for her. So if your baby were to have life insurance, if, God forbid, something happened to the baby, then you guys would reap the money from it. And that doesn't make sense. It makes sense that if something were to happen to you or your husband, there would be a ton of money there waiting for her, that whoever her caretaker would be, she would be just fine.

Yes. And again, people will throw in the whole investment side. But again, if you open up a whole life policy, and she goes and she cashes it out at 18 or something and changes it up, what she could have had if you had just invested it in a mutual fund under, like an UPMA account, or you even put into a college fund for her, like a 529, would be leaps and bounds more money. You would gain way more of a rate of return and interest on that versus the crappy investments that sit inside of life insurances. So it's a great question, Gracie.

Fake it till you make it. It's popular career advice, but it doesn't work for very long. If you don't love what you do, you can't fake the enthusiasm and energy you need to win at work. You also can't fake your physical health and energy. Everybody knows we should eat more fruits and veggies, but fruit chews and veggie chips don't count.

The Ramsey Show Question of the Day is brought to you by Neighborly, your hub for home services. for over 40 years. Neighborly has an exclusive network of trained local service providers, backed by the Neighborly Done Right Promise. So if it's not done right, Neighborly will make it right. Visit neighborly.com slash Ramsey today to learn more.

Love it. Today's question comes from Amy in Louisiana. She says, How do you navigate social situations while trying to stick to a budget? I recently volunteered to help with a friend's baby shower, and my husband and I agreed upon a certain number to spend on it. The girl whose shower it was connected me to another friend who wanted to help host, who I had never met.

Oh, geez. Wow.

Look, I almost lost it whilst reading, obviously. Here's the thing. You told her from the beginning.

Yeah.

Rachel, correct me if I'm wrong. Look, this is what Jay would do.

Go, Jay. If I told you from the beginning,

I can spend $200, then I am spending $200.. If she, who did not have a budget, said that's great, whatever your contribution is, that's fine. If she already said fine, then at that point, if she chose to buy other things, I am not reimbursing you. Matter of fact, I'm going to go, well, why would you spend more? I would be asking her questions as to why she chose to spend more when she could have easily just matched my budget and it been even, $200, $200..

Yes. I know. So, Amy, I mean, honestly, you did such a, you're so wise in it. I'm, like, you knew, going in, here's my budget. Talk to your husband about it.

this is a person she's never met. Now, if this is like,

if this is a friend,

a friend,

then that is really awkward. But I think, but again, I think you have to, you have to stick to your guns and you know, you had not communicated an expectation, and you show up and it's all, then that is like, oh man, but on the front end. So you guys, everyone listening or watching right now, this is a great lesson that if you go into an event, a social event, which happens all the time, whether it's wedding showers or weddings, with a wedding gift, teacher presents, a lot of our classes will pool money together to get one teacher gift. And you know, if there's any type of group situation and you have a set amount of money, don't be, don't feel any level of, I feel bad that I have a set amount. Communicate it and say it out loud, because it's going to give you peace.

And I think probably one other thing, and maybe who knows if she did it or not, but like, as, as the planning commences, just being a reminder, remember, I'm only going to be able to spend 200.. Like, so she's suggesting, oh, it would be so cool if we did like these little balloon thingies. Okay. But remember, I can only spend $200.. Oh, but like, oh, I found this great little caterer.

It's so funny, Jade. I'm like, you know, these just social scenarios, whether it's kid birthday parties or again, showers, or, I mean, anything that has a level of a, what's it called?

not like a group funding.

Yeah. But like the, the vibe, like what's like, like the aesthetics. Yes. You want the aesthetics to be beautiful, a 40th birthday party, you know, big celebrations, all of that. You know, there is this balance of, you want to celebrate people.

That's right.

You want it to be nice. Like I, get all of that. Otherwise, don't volunteer. You want it to be beautiful, but also you guys, it's just gotten out of control. The expectations of all these events.

It's crazy.

It's crazy. So it's not normal. Like, just so you know, that it's not normal to have food trucks at your two-year-old's birthday party. No. With bounce houses.

I heard plenty of stories about, um, like bachelorette parties.

Oh, my gosh.

Where it's like.

Could you imagine getting married? right now? I listen to girls that are getting married and they're in the bachelorette parties and the wedding showers and the weddings.

And there's a trip. If there's a trip involved. Oh yeah. There always is now.

I was like,

only the Kardashians did that. Like when I was getting married 15 years ago,

I was like,

people didn't go on these like extravagant trips.

At least we didn't.

You have to fork over some major cash to be in a bridal party these days.

It's real. It's really. I wish we all could, just like, all the women in America, could lock arms and just make a pact that, like, we won't do this to each other. We will all just together. Our big birthday party, everything like, it's okay.

Yeah. I'm not doing it.

It's hard. So, so hard. But again, clearly verbalizing what you can do is wise. It's not awkward. It's actually very, very smart for you and your money.

That's right. Good job, Amy.

All right. Um, next we have Joey in Manhattan. Hey, Joey, welcome to the show.

Hi, good afternoon. Thank you so much for taking my call.

Absolutely. How can we help?

Um, yeah, so I can explain a little bit of my situation. Um, but essentially I am 23 years old. I make about $60,000 a year and I want to save up for a house. And I know that kind of like. the traditional rule is to pay cash for it.

I mean, I love that you're thinking about all of this and you're trying to make smart choices with your money. I think I would applaud you on that. Uh, you know, you mentioned paying cash for a house. Yeah. If you have the patience and the funding to save up and pay the whole thing full out in cash, I think that's great.

Yeah, no, go ahead.

So you mentioned stocks that you had.

Yes.

Can you tell me a little bit more about that, and how much is there?

Yeah. So I have about 8,000 kind of spread across, um, regular stop stock that I just invested on my own via, like the Robin hood app. So different things like Apple, Facebook, uh, Tesla, just like big kind of like famous stocks that I know kind of will do well over time.

Yeah.

In addition to that, I do invest, um, just like on the app called acorns. I have my Roth IRA through them. So I have another 12,000 just kind of invested in one of their aggressive kind of sets. So it's just different stocks that they kind of pick for me and manage. Okay.

What percentage do you put towards that?

It's not a percentage I have. Well, I don't know what off the top of my head. I do normally about a thousand a month,

depending on where. the rest of my point in saying all this is, you might have a little bit more to put towards this than you think. I'd probably stop with the stocks. And if you wanted to get here sooner than later, I'd probably put some of that stock money towards saving for a house, especially if you already have three to six months saved. Anything that you save up past.

Yeah. Any non-retirement, Joey, can go towards that. It's great. This is the Ramsey show.

This show is sponsored by better help. This is Deloney. And I'm always railing against social media, especially in the summer, because everyone uploads the highlight reels of their perfect bodies and perfect vacations and perfect kids. And I know they're not real. And I also know that I'm blessed beyond my wildest dreams, but I still find myself wishing my life was like other people's.

Welcome back to the Ramsey show. I am Ramsey personality, Rachel Cruz, hosting this hour with my friend and Ramsey personality, Jade Warshaw, and Thanksgiving is coming up, you guys. And I wrote a kid's book called I'm glad for what I have. And so the idea of gratitude and contentment and all of that is, is so key. And again, it's kind of part of the holiday that we are in, even this week.

Hey, how are you guys? We are having me.

Absolutely. Thanks for calling in. How can we help?

Um, so I have a few questions. Um, I guess I have a pretty decent amount of money saved. Um, and I was kind of wondering how to go about making it more of like a passive income. Um, and, uh, just seeing if there's anything better I could be doing with my money than what I'm doing now.

Yeah, that's a great question. Okay. So how much money do you have saved?

Uh, about just a little over 150,000..

Okay. And what's it in now?

Uh, mostly CDs.

Okay. And do you have, uh, do you have any debt, Ryan?

No,

no debt. And do you have any other savings besides this? Any retirement?

Um, well, that's money that I just have set aside, that I don't touch at all. Um, so I guess that would be like towards that. Yeah.

Okay. But you don't, do you have like a Roth IRA or a 401k?

Yes. Yeah. Uh, yeah. And I have a TSP also.

Cool.

Okay. And how much money do you make a year?

Um, now not too much. Um, I took a pay cut. Um, I'd say like 50,000 now.

Okay. Okay. Perfect. And what's your living situation? Are you renting?

Um, I'm in the military now, so I don't have, um, so I don't own anything now.

Okay. Just military housing?

Yes. Okay.

What branch are you in? Um,

uh, the army.

Okay, great. Well, thank you for your service and sacrifice doing that. We, we greatly appreciate it. So yeah, this is a, this is a good amount, right? I'm very impressed that you saved $150,000..

Yeah.

Uh, that can actually get you a little bit more, make, make more.

I'm just curious when you said passive income, did you have something in mind? Like, is there something that you were thinking of that you wanted to run by?

Um, I mean, I've only looked at like property really, but like, uh, like other than that, like nothing really. Um, but I don't, I don't know like what the best thing to be doing with that is. Um,

I can tell you what I might do.

Yeah.

So I'm assuming you have no debt.

Yeah. No debt.

And other than like, this, is the only savings you have. So what I would, if this is what Jade would do, I would probably set aside what I think my expenses are for about six months. And I'd put that separate, like in a high yield savings account. And then, if it were me, how long do you plan on being in the military in the way that you're like hopping around?

Um, I guess it kind of depends on like how, how it goes. Um,

I. probably, my next goal would be setting aside enough money that when I'm done with the military or, where I'm more stable, where I could buy a home in cash. Okay. So I'd probably invest it. Like you said, five years, I'd probably just throw it in an S and P 500 account and let it sit.

Or at least use it for a, for a big down payment.

A big down payment.

Because, Ryan, I think, I think the first goal would be, you know, owning your, owning a home, uh, is one of the big pieces of your financial picture. And so we want you to be able to do that and then eventually own it outright. So what Jade is saying is, is right. That if you can just buy it with cash outright, your primary home, then obviously that's not gonna be passive income, like your question, but it starts to get you towards a financial stability. Because if you just dream for a second and think, oh my gosh, if you put 50% or 75% or a hundred percent down on your home, and even if you took out a small mortgage and you paid it off, then you're that same ability to save Ryan that you have now is still probably going to be there in who you are.

but it's really passive,

but it's stability. Like we're, like, you're setting yourself up for the future. And how did you tell us how old you were? How old are you?

I'm 27,.

27.. Okay. So, yeah, I mean, it's plenty of time to do all of this. And yeah, I mean, you could look up in 15 years and have some great cash to get into the real estate game and do it without risk with cash and all of that. But I think at this place, I think the next wise step, once all this settles.

That's right.

Would you, would you agree?

Yeah, I agree.

Yeah. But, but again, I like where your mind is at, because I think that's more of a long-term play to be looking into that realm. But I think that it's going to be sooner for you, Ryan, then some people listening, because you've set yourself up really well.

100%.

Yeah. I mean, no debt and $150,000.. So well done. Well done. Up.

Hey guys. Thanks for taking my call.

Absolutely. How can we help?

So my wife is employed by a company that grants stock to all employees. And she's been with that company for quite a while now. And as we've gained actually quite a bit of stock and I was unsure what to do with that, with that stock. And it has actually come to the point where we have enough to pay off the mortgage to our house.

Amazing.

If we should, if that was a worthwhile sale to pay down the mortgage, essentially.

One, two, three.

Yes.

Okay.

Yeah, for sure, Adam. I mean the company stock, you know, we always, I mean, I think it's a nod to them. That's a great thing, but you're stuck into one stock. And Enron is always the name that comes to my head, right? And so there's always, always going to be risk, even if it's a company you work for.

it's going to feel so great.

How much is it? How much do you guys have left?

Uh, it's about 200 grand. Come on.

Amazing. Adam, do you guys have any other debt?

But it's a sub, it's a sub 3% interest rate. And that's the only reason where I'm, I'm waffling on that decision because, you know, maybe that is a nice sum for, you know, retirement one day, but I don't know if that outweighs, you know, not having that mortgage at this point in time, but yeah,

that's right. I hear what you're saying, but I,

Hi there. Thank you so much for having me on long time listener. First time caller. Um, I had a question. So, um, we're actually moving to Indiana in about six months.

so great. Well, welcome to America.

Okay.

So, uh, so you guys are getting married. You're moving down to Indiana.

Yeah. And, uh, our court, so we have a townhouse in Vancouver and, um, the market here has just been crazy. We've done very well just by owning. So we're looking to enter the U S with approximately 300,000 us. And, um, I'm looking to try and purchase a house that's under that limit in order to be mortgage free.

Sure.

Um, my, my big concern there, obviously I'm, I value the, the advice you guys give is to try to be mortgage free. Um, but I'm about five months into starting my own business. And, uh, the idea of being mortgage free gives me peace of mind, knowing that I don't have to maintain such high monthly debts. So how do I talk to my wife and, I guess, compromise or get her to see my, my,

yeah.

How much,

how much are you guys going to be bringing in a year? Do you know?

Uh, I, I have an opportunity to work for a bank in the U S which would bring in about a hundred thousand, but I'm currently trying to pursue my own business, which, uh, I'm, I'm trying to make the same amount, but it's, it's only been about four months. Okay.

What are you making? Sorry. What are you making anything from your own business?

Not yet. No. Um, but our product goes live in about a month or so.

Okay. That's great. And what's your wife make?

Um, I like to stay at home. Um, we have three lovely children. Okay.

So great. Um, have you guys look, have you looked to see what? I'm sure you have, kind of what the market is for around under that $300,000 mark?

Yeah. Like in, in my own opinion, I'm, I believe I can compromise a little bit more and for around two, 50, the home size meets all of our family needs. It's really, I guess, just the trimmings and slightly bigger size of properties, with my wife's wanting for the family.

What does two 50 get? you be specific?

Uh, a four bedroom, three bathroom, 2000 square foot home on maybe a 4,000 square foot lot.

Okay. And how old, like, how, like fairly old or 15 to 20 years old. Okay.

Okay. Um, Oh man,

I don't think, I don't think either of you are wrong. I was going to say, I can understand where your wife is coming.

from. I can't.

And the reason I understand where she's coming from is because you could afford, you can afford easily to do that. Like if you have $300,000 in cash, taking on a 50 or a hundred thousand dollar mortgage is you'll be just fine.

Yes.

And I honestly think that it could be, this is a, I'm going to do a little bit of girl math here. I honestly think it could be a little worth it, because if it's a newer, nicer property, there may be less spent in repairs when you first get in. So it's like, do you want to pay for less headache up front or do you want to pay less? And when you come in, it's like, all right, we got to switch the carpet. All right.

and we're going to,

we're going to want to replace the kitchen cabinets in two years. We're going to, we're going to want to do all these things when it could be more done on the front end with a very small mortgage.

Yeah. I'm voting. Can I place my vote? Can I put my ballot in?

Absolutely.

I think I'm voting team wife. This is only because, well, let me, before I vote team wife, do you have any other debt?

No other debt? No.

Do you have any money saved? Besides the 300K?

We have 25,000 saved. It's not earmarked for retirement or education. It's just general savings.

just an emergency fund.

Just call it an emergency fund.

Yes. And there is a little bit of debt. actually. It's just the debt that I'm accruing from starting my business.

What's that?

We're looking at currently about 40,000..

Oh, that's a little bit.

No. So the money we're entering with the US at 300, I've factored in that we're going to be paying this debt down as well.

Well, what I would do is I take some of that. I take 40,000 of the 300K and pay it off completely. Because if you want to talk about going into your new business, whenever that is, it sounds like you're trying to build that bridge now. That, for me, would provide more stress, having debt on the business would give me more stress than having $50,000 on a home. Because with your home, at least, it's a forced savings account.

Right. I hear you. So, to summarize, you're saying pay down the accrued debt and then pay off and transfer the debt over to a small mortgage that is manageable monthly.

I'm saying take the $300,000, pay off $40,000.. So now you're left with $260,000.. And then, now this does change a little bit what size home you get. So I can't, I wouldn't necessarily...

It's not swapping debt for debt.

It's not swapping debt from debt.

But it is using, yes, that cash that you have from the sale of your home in Canada to help pay off the business debt. And then I think, because of that choice, yeah, you're taking on what we had said earlier, anywhere from $50,000 to $100,000.. It may go down to $50,000.. Maybe now you max out a $50,000 mortgage, and that's what we're going to do. And I think that is going to, that's going to give you a totally different mindset.

hopefully they all work,

but sometimes they get stuck with a bill, with something that didn't work, and they're having to pay for it for years to come. So just be thoughtful on that. So yeah, we're, we're like half team. wife. I'd go half that, that your mark, 50,000 on a mortgage, and you guys can pay it off quickly and get a better home that you're not going to keep up with as much.

I got the bat signal.

Come in here and join us for this segment, because there was a video that was published. Was it,

was it Bloomberg that maybe business insider? Do you guys know? I mean, it was just everywhere.

It was a, it was a tick tock video of a young girl. Um, we're going to say Gen Z. Yeah. And she was struggling with the reality of what working full time meant and how it felt. nine to five, nine to five, the exhaustion.

I know I'm probably just being so dramatic and annoying, but this is my first job, like my first nine to five job after college, and I'm in person and I'm commuting in the city and it takes me forever to get there. There's no way I'm going to be able to afford living in the city right now. So that's off the table. Like if I was able to walk to work and it would, it'd be fine, but I'm not. So it literally takes me, like I leave here at like I get on the train at seven, 30 and I don't get home till like six, 15 earliest.

I just want to hug her.

Okay. First things first, she gets home around 615 and all she has time for is eating and showering. I want to know how long of a shower she's taking. Does she have kids? That's a long shower.

I'm like,

where do you have kids?

No, she has no concept of time. I don't have time to work out, to see boys. At 615, what are you doing?

Wait though, wait though, Ken, because I kind of, there were parts of me that kind of felt what she was saying a little bit.

What part?

Because I've always worked from home. I've always run business from home, which means, like you get the, you have the ability to tweak your schedule very easily. You don't have to ask anybody. If I say I'm going to start my day at 9am or if Tuesday I go, I got to take my daughter to daycare. I'm going to start my day at 10am and then I'm going to come back at 9pm and make up that hour.

You're very sweet. What you're saying is not the same as what she's saying. It's not the same,

but I kind of got it.

When she gets home at 6.15, all she has time for is a shower and maybe a quick microwave meal. But what she's really saying is she's shook. She can't even boil noodles. She's tired.

She's tired.

What she's really saying is she's weak. No! No, this is a weak minded young girl. No, Kim Coleman.

No,

she's struggling.

She said, I like my job. Okay. If I lived in the city and I could walk there, I'd be fine. The whole meltdown was about her time from 6.15 until bedtime.

I'm telling you.

And she didn't account for the four hours. Thus, this is a young girl who's very kind and sweet.

But if you're used to more hours.

This is a meltdown on TikTok.

It is a meltdown. But if you are used to more hours in your day that you can spend the way you choose.

It does feel like. this is her first job, though.

It's her first job. She is reacting to like, Oh my gosh, I just hit the world.

This is adulthood. This is adulthood.

Thank you. It's adulthood. But let me say this.

I remember, I remember waking up, probably like four months into work after college, coming here and thinking like, Oh, my gosh, like this is my, this is my life. This is my life for the next 40 years or however long. Like every point up until then, there's a transition, right? Elementary school to middle school, to high school. There's something new.

I was tired. No,

I wasn't on TikTok. Like I knew, like I have bills to pay. Like we have to work. We're adults here,

but I do think it is. I get it.

I think so too. You're tired.

Please tell me you're tight. You get tired. You're tired.

Percent. Last night, my two teenage boys were out of the house with friends. Josie, our youngest, had a friend upstairs. I was in the living room watching the football game and completely snoring in between like wake. So I get it.

You're being curmudgeoned.

The curmudgeoned.

Since when did having common sense make you a curmudgeon? Guilty as charged, because this gal is freaking out over the amount of time she has between getting home from work and going to bed. That's what this is about.

She is freaking out, but she also could be learning something about how she's. She could be. I'm not saying she is. She could be learning something about how she's, what she's bent towards. Cause I do think some people are more bent towards.

Let me take another. Oh,

I think it's another angle. But, but,

but even Jade, let me say this, not against this girl.

I'm ready for another angle.

Okay. But, but I'm just saying, if you had to and didn't have a choice,

you got to work. Yeah.

You wouldn't necessarily probably be melting down.

Here's an idea.

You're saying if she,

if she had no other options, and this is what she had to do, you, you, there's a gum, like you, you would have to find that inner strength.

She doesn't have another option.

Like you got to work. Yeah. That's right. That's right. You got to work.

Let me, let me take another tack. Okay. All right. Let me just not be a curmudgeon for a second. All right.

I think most of America is probably agreeing with you. Of course. We're playing devil.

Which they almost always do. But anyway, here's the thing. Let me take the caring dad hat for a moment.

Okay. Take the caring dad.

I understand, sweetheart. This is a real shock to your system. All the things that sister Jade and sister Rachel said, they love you.

They're your older sister or sister.

You would be sister with a U H or an a, only. I get it. Here's the point. If you're struggling like this, call your friend, uh, listen to a Taylor Swift song, uh, talk to mom and dad. Don't go on Tik TOK and melt down.

Stop with me.

I'm going to share every. I'm not. Cause. let me tell you something. I got some crazy thoughts in my head.

You did.

I have seen, and I know. Yes.

So what I'm saying is, is the dad, can we stop sharing our souls on Tik TOK?

Now that Ken is very good. Very good.

We all deserve a chance to melt down, but, for God's sake, do it in private, with a friend, with somebody safe, with Jesus. Now we're talking about this poor girl on a huge show.

And I don't,

I don't,

I don't mean her any ill will at all. Cause I'd actually go, Oh, I want to give you a hug. I get it. Life is hard. This does suck.

Maybe you work out at five,

maybe eat on the train. Yeah. Maybe get up at five, 30 workout. I don't know.

There's a way to do it.

And I will say this. It's a cry for help. After having multiple children sitting here, all of us.

Yes.

We probably can adjust more. That's right. And I'm not kidding. It makes you, it makes you adjust.

They don't know tired. Having multiple kids is tired to the bone. Can I get an amen?

Amen.

There it is.

Amen. Hallelujah. Thank you, Jesus. This is the Ramsey Show.

big bro stopped in.

Yes.

Nothing to do.

We waved them in because we had a reaction video last segment and we just love Ken. And we said,

you'll keep him.

Why don't you stay one more segment and help answer a few of these calls coming in. So let's go to Kyle in Macon, Georgia. Hey, Kyle, welcome to the show.

Hey, Rachel. Hey, Jay. Hey, Ken. Thanks so much for taking the call today.

Absolutely. How can we help?

So, uh, just to, I guess, a little backstory, my, my wife's a teacher. Um, we live in one County and she teaches in another. Um, we're currently, uh, new to the, the whole, uh, we're all in, we've signed up for Ramsey plus, we've got every dollar premium. We've got everything set up. We're starting our budget.

Okay. Yeah, that's a great, it's a great question. So your wife, she's teaching in the County over. And so you're just, I want to clarify, make sure I got the question. Correct.

Correct. Yeah. So we want to determine whether we want to pay off here before moving, or you just pay off enough to move, um, to where we can move into a house with all the prerequisite 20% down, 15 year fixed and all that.

Quick question. What's the benefit of moving the kids to the new school district just to be in the same school as mom, or is it a better school district?

It's a better school district. So we're kind of on the outskirts of the town. So Warner Robins is the greater area and Houston County is the County that it's in, but we're, we're literally like a mile from the border of Houston County. So, but we're, we just happen to not be a part of it.

I probably would, then I'd, once you get to baby steps, four or five and six, I'd continue to pay extra towards the mortgage, just like you normally would, because it's still a forced savings account. And when you get ready to move and you sell your home and you receive that equity, that would be your down payment on your next home. That's probably what I would do.

Yeah. How much, sorry, how much debt do you, do you guys have to pay off?

Um, so we're, we're at about 130,000 and, we make 150 a year.

Okay. So how have you guys mapped out the timeline on when you think you'll have it paid off?

Yeah. So we're, we're currently looking at may of 2026.. I'm actually about to start a side hustle with a friend of mine doing web development and software development.

good for you.

and, and hopes to kind of make some extra money to help get this done quicker.

Okay. But that has the kids in that school for two more years. Do you guys want to move sooner than that?

Well, so they're not in school yet. So our youngest, our only child, currently is about to be two. And then we have one on the way. who's doing that.

Oh, okay. So you guys have some time. Okay. That's great. That's good.

So we have, yeah, we have the Daniel, our younger, our only child right now will not even start for at least three years. So by the time we even get to where he's starting school, we won't, we will be done out of, out of consumer debt.

Gotcha.

But just trying to figure out how much time do we give ourselves?

Yeah. Yeah. Yeah. Well, I would definitely still be putting money towards paying off your house, just like Jade said. And then, when you guys get to the point that you're like, Hey, we're going to move for schools, you start looking.

Yeah.

Savings.

You're not losing anything by doing that.

So what is, yeah, what it was. So, so I guess that was really our biggest thing was, is it, when we do decide to move, it's going to be, is it worth $5,000 a year? To make the move and, you know, get into a new mortgage versus just paying the $5,000 a year.

What's the $5,000 a year? Am I missing that?

It's to pay for the kids going out of district. I see. So here's the question. Yeah. You already answered one power.

Yeah. I mean, you would. Yeah. Well, so, well, no, if we were,

meaning you'd stay in the house. Yeah. So, which is more important to you staying in the house that you're in now that it's paid off, or it will be paid off, or saving the $5,000 living in a different house, but the kids are in their district? Because I think that becomes the ultimate question for me. I'd pay the 5,000 a year if I really love the house.

Yeah.

Because now I get the best of both worlds. So what's important to you? What's the most important, the house or the kids in the school district?

Yeah. I think for us, it'd probably be the house just because we're, the only reason we moved into this house was just because we had, we used USDA and didn't have anything down. And at the time we know, now we don't have to, you know, it's not really smart.

So here's the deal. That's a line item for you now, right? When the kids are in school, the $5,000, that's your line item.

And it'll be 2,500 at first, right? For one kid. That's correct. Yeah.

And then,

I mean, we're all here. We're all parents here. Can you have older kids than us, but also, Kyle, my kids, they're in public school. And I will say one of the gifts of it that we have found is that all the kids are zoned for that school, for our elementary school, for the middle school and high school, in surrounding areas. So all my kids, friends, all live in the neighborhood next to us and all of it.

But they're in private schools close by and you wouldn't believe how many kids they went to public school with in elementary school and middle school. And they've.

Okay.

So Rachel makes a very good point. Very good point on this real quick question. Are the neighborhoods better? I know the school system is better. It makes me believe that maybe the neighborhoods are better in this other.

Oh yeah, absolutely.

All right. So you can look this up, Google, this. I won't eat up any time on this, but there is actual data out there. And it's why we moved into the neighborhood that Stacy and I moved into years ago. And it was a bit of a stretch for us.

Absolutely. Yeah. And our,

and our churches is on that side of town as well.

So we, getting closer to everything is really the goal. And that's kind of where,

where, where we're going to be.

I would go there, but paying the house off, like Jade said, still the right place. Absolutely. Gives you more options. Sounds like you're heading in that direction at some point.

Yeah. Maybe if over years, Kyle, it'll probably be a longer term decision for you guys. Nothing you'll do in the next year or two, but, but yeah, I think it's a great goal to have. And again, not to keep on this point, but that's how Winston and I were when our daughter started kindergarten. We knew where we were.

I'm going to take off.

Always a pleasure.

Let you two do your thing.

Busy things to do, Ken, keeping the world afloat. We appreciate it.

By the way, by Rachel's new book, I'm glad for what I have. And money's not a math problem by Jade Warshall. Buy their books, RandySolutions.com. Go now.

Thanks so kind, Ken. We'll be back.