Podcast Summary: The Ramsey Show – "It’s Not Too Late to Get Back on Financial Track"

Release Date: April 15, 2025

Introduction and Show Updates

In the latest episode of The Ramsey Show, host Dave Ramsey and co-host George Camel kick off with exciting updates and announcements. They share news about Dave's upcoming tour and the launch of his new book, Build a Business You Love. This book aims to guide small business owners through the five stages of business development, drawing from Ramsey Solutions' experience working with over 10,000 small businesses across America.

Dave Ramsey [00:00]: "Build a business you love is launching officially today. Thank you for that."

New Book Launch: "Build a Business You Love"

Dave Ramsey proudly announces the release of his new book, which is designed to help entrepreneurs navigate the complexities of running a small business. He emphasizes the challenges faced by business owners, especially in turbulent times like post-2008 and tariff wars, and offers a clear roadmap to building a profitable and fulfilling business.

Dave Ramsey [00:55]: "Running a business is tough. Some days it feels like you're just duct taping the whole thing together."

Presence on Amazon Music and Times Square Billboard

Dave shares the exciting news that The Ramsey Show is now available on Amazon Music, expanding its reach in the podcast world. To celebrate, Amazon Music is featuring Ramsey and his new book on a prominent digital billboard in Times Square.

Dave Ramsey [01:49]: "Amazon Music is now carrying the Ramsey show and have been as they're in the podcast world now."

Interactions and Appearances on Other Podcasts

Ramsey discusses his recent appearances on various podcasts, including Tucker Carlson's and Sean Ryan's shows. These appearances highlight Ramsey's expanding influence and his commitment to spreading financial wisdom across different platforms.

Dave Ramsey [04:10]: "Sean Ryan's podcast with me and him hanging out, talking life and kids and marriage and Christmas and money."

Engaging with Teenagers and Financial Curriculum in Schools

A significant portion of the episode focuses on Ramsey's involvement with financial education in schools. George Camel recounts an interaction with 150 teenagers who were enthusiastic about their financial curriculum, underscoring the program's impact. Ramsey Solutions' curriculum is now present in 48% of high schools in the U.S., reaching six million students.

George Camel [07:10]: "Six million high school students have been through our high school curriculum."

Ramsey and Camel emphasize the importance of financial education, citing a title-one school in Birmingham where the curriculum was sponsored by local home builders, providing students from lower socioeconomic backgrounds with the tools to achieve financial freedom.

Dave Ramsey [07:53]: "I talk to a guy in Birmingham this week that... he can teach these kids how they never have to live like their parents have lived."

Caller Stories and Financial Advice

The episode features several callers seeking financial guidance, each presenting unique challenges.

1. Colin from Fort Myers, Florida: Debt and Mental Health Struggles [07:22–18:04]

   Colin shares a harrowing story about battling bipolar disorder, leading to instability that resulted in breaking into his car, its subsequent towing and auctioning, and substantial debt accumulation. Ramsey and guest Dr. John Deloney provide compassionate advice, emphasizing the importance of stabilizing mental health before addressing financial woes.

   Dave Ramsey [10:07]: "The first thing before we worry about healing your numbers, healing your math and your finances is for Colin to get healing."

   The discussion highlights strategies like settling debts for a fraction of the owed amount and implementing safeguards like freezing credit to prevent further financial pitfalls.

   George Camel [17:41]: "Another tactical piece of this is adding some stop gaps in there like freezing your credit..."

2. Mike from Connecticut: Retirement and Rental Property Exit Strategies [18:04–27:52]

   Mike seeks advice on exiting rental property ownership without incurring hefty taxes. Ramsey explains that 1031 exchanges are unsuitable for transitioning into Real Estate Investment Trusts (REITs) and discusses the tax implications of selling properties versus reinvesting in like-kind properties.

   Dave Ramsey [19:06]: "You can't, it's not like kind has to be actively managed property and you're not actively managing a REIT."

   The conversation underscores the importance of consulting tax professionals and understanding the nuances of investment strategies.

3. Sasha from Manchester, New Hampshire: Debt After Widowhood [85:07–88:16]

   Sasha, a recent widow, grapples with debts accrued by her late husband, including credit cards in collections. Ramsey advises settling these debts for reduced amounts while ensuring all agreements are documented in writing to protect her financial future.

   Dave Ramsey [86:29]: "Do I still have to pay them? Yes, they have to be paid. Or if they're written off, you can settle with them for..."

4. Other Callers:

   • Jade from Sacramento, California asks about affording a substantial vacation after achieving debt freedom.
   • Troy from Tampa, Florida inquires about contributing to retirement accounts while managing existing debts.

Success Stories: Rick and Helene's Journey to Financial Freedom [45:12–75:50]

One of the episode's highlights is the inspiring story of Rick and Helene from Lebanon, Tennessee. After 29 years of dedication to Ramsey Solutions, they celebrate paying off their $326,000 mortgage in just nine years, transitioning to what Ramsey terms "baby steps millionaires." Their journey included teaching Financial Peace University (FPU), which helped them adhere to the seven baby steps framework.

Dave Ramsey [68:23]: "Baby steps, millionaires. That's an incredible."

Their success story underscores the effectiveness of Ramsey's financial strategies and the transformative power of disciplined financial planning.

Product Promotions and Sponsorships

Throughout the episode, Ramsey and Camel promote various products and sponsors that align with their mission of financial wellness.

• Field of Greens: A health-oriented product offering a mix of fruits and vegetables with doctor-selected benefits.

  George Camel [20:39]: "They make this promise. Your doctor will notice your improved health or your money back."

• Health Trust Financial: A health insurance broker that helps listeners find affordable health insurance plans, often saving them significant monthly costs.

  Dave Ramsey [35:37]: "Health Trust Financial helps you find the health insurance that's right for you."

• DeleteMe: A service that helps remove personal information from data broker websites, reducing exposure to scams and spam.

  George Camel [65:27]: "Delete Me will delete your data, hence the name. It's gone."

• EveryDollar App: Ramsey's budgeting tool that helps users allocate every dollar of their income towards their financial goals.

  Dave Ramsey [66:54]: "The easiest way to get started and stick to it is with the Every dollar budget app. It'll help you make a plan for every single dollar coming in and every single dollar going out every single month."

Notable Quotes

The episode is peppered with memorable quotes that capture Ramsey's straightforward approach to financial advice:

• Dave Ramsey [00:55]: "Running a business is tough. Some days it feels like you're just duct taping the whole thing together."

• George Camel [05:29]: "Busy week."

• Dave Ramsey [10:15]: "It's saying I love you to your family."

• Dave Ramsey [27:52]: "And the old saying, if you don't argue with an idiot, they'll drag you down and beat you."

• Dave Ramsey [43:27]: "You deserve it. You don't deserve nothing."

• Dave Ramsey [66:54]: "Shut up, you whiner. You deserve it."

Conclusion and Tour Announcements

As the episode wraps up, Ramsey and Camel announce the Money and Relationships Tour, scheduled to visit cities like Louisville, Atlanta, Durham, Phoenix, Fort Worth, and Kansas City. They encourage listeners to secure tickets promptly to benefit from their upcoming live financial guidance sessions.

Dave Ramsey [78:17]: "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."

Final Thoughts

The Ramsey Show episode titled "It’s Not Too Late to Get Back on Financial Track" offers a comprehensive blend of financial advice, personal stories, and motivational content. Ramsey and his team delve into real-life financial struggles, providing actionable solutions grounded in the seven baby steps philosophy. Whether addressing debt management, retirement planning, or the importance of mental health in financial stability, the episode serves as a valuable resource for listeners seeking to regain control of their financial lives.

Key Takeaways:

• Stabilize Personal Health: Address mental and emotional well-being as a foundation for financial recovery.
• Debt Management: Utilize strategies like debt snowball and settling debts for reduced amounts.
• Financial Education: Invest in financial literacy programs, especially for younger generations.
• Disciplined Budgeting: Use tools like the EveryDollar app to allocate funds effectively.
• Community and Support: Engage with supportive communities and success stories to stay motivated.

For more insights and to access The Ramsey Show, visit www.ramseysolutions.com.