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- [00:03]
A
Brought to you by the EveryDollar app. Start budgeting for free today. Today's Ramsey Network app question is from Kathy.
- [00:10]
B
This comes from Kathy. Is it still necessary to budget in your 60s and 70s? I feel like this is the old dentist quote, only brush the teeth you want to keep. Oh, feels the same with money. Only man. Only budget the money you want to keep. Whoa, is that, is that fair?
- [00:26]
A
That's good.
- [00:27]
B
If you don't want to keep it, don't budget it.
- [00:29]
A
Here's the thing. Rachel talks about this better than anybody because I never talked about this before. She came along and started talking about it on the air and she's.
- [00:36]
B
She made it cool.
- [00:37]
A
Well, she's a spender, so she's had to figure out that the budget is actually a spending plan. When you have agreement on where your money's going to go, it lowers your stress level because it gives you permission to spend guilt free on X or Y or Z. So if you're in your 60s and 70s and you have a good nest egg and you say, I want to go on a trip, but I feel guilty, or I want to buy a car, but I feel guilty, you can look down at your budget and go, wait a minute, I've got the money.
- [01:07]
B
It's not impulsive. We plan for it.
- [01:09]
A
We built this nest egg to be able to do these things and to retire with dignity. And the budget is permission to spend because it says, hey, look, we've got our food, we've got our lights and water. You know, the nest egg is not being bothered. We can do this. We can afford to go out and eat. We can afford to buy that clothing item, whatever it is you're doing, I don't care what it is, but it gives you permission to do this stuff without guilt because you know you're not messing up. And so it's a. It's an anxiety reliever. So I would recommend it.
- [01:39]
B
Yeah. And as you get older, I hope, Kathy, that you guys are debt free with a great nest egg to where budgeting is. It's a quick monthly budget meeting. It's not, you know, pain inducing. It's. And you're going to have so much margin that the budget just becomes a fun spending plan versus a. We got to be real tight. We can't spend any of this.
- [01:55]
A
Yeah.
- [01:56]
B
And every dollar is a great way to do that.
- [01:58]
A
You know, this week, George, on the air, I've taken with Jade and John and Ken and so forth. I've taken some calls that were really sad, that were like, 71 year old lady that called and had absolutely nothing. A 73 year old guy, they called and said, I'm working, I'm 73, but I don't have a single dime to my name. I've got Social Security, my wife has Social Security. So I got $3,700 a month coming in from that and I'm tired, but I don't have a single dollar. I mean, he had like $4,000 saved. And those are sad calls in those situations. And I probably didn't stop during those particular episodes and do a good job of yelling at 20 somethings to take a lesson from that call. You know, if you're listening and you're in your, you know, you're 26, you're 24 or you're 38 or whatever and you hear a 75 year old, 74 year old call in tears, Dave, I'm tired, my body's breaking down, I cannot work anymore. And I have to because I don't have. You should take that as God's signal to you to get your crap together.
- [03:15]
B
That's a wake up call.
- [03:16]
A
That's your wake up call. Ding, ding, ding, ding, ding, ding. That's the cold shower right there that says, you know, I don't want to do that. I was talking to this guy that one time that was multimillionaire and he was kind of gruff. He probably, probably shouldn't even tell the story because he's kind of a, kind of a grouchy old guy. But it was kind of funny too, in a way and kind of sad. He said, dave, you know what an old man is that has money? I said, no, what he get a grandpa said, you know what an old, you know what an old man is as broke? I said, no, what he goes in the way. That's sad, that's pretty cold too, but in that, you know. And so I don't want to be working at McDonald's when I'm 70 unless it's the one I own in St. Thomas, right? You know, I don't want, I don't be a Walmart greeter and say I'm doing it for fun unless I own the Walmart. And I probably don't own it since Walmart owns it. So there. So I mean, you know, very different.
- [04:08]
B
Story when you work because you want to versus because you have to, you.
- [04:11]
A
Know, give yourself some options by, you know, being able to say yes later by saying no now. Quit consuming every stinking thing you make. I mean, some of you out there make so Much, much money and you work really hard and you're really smart, but you're dumb. You spend everything. And you know, when you hear One of these 70 somethings call in, you should take that as God's direct slap. And God is saying, don't do this. In the house of the wise are stores of choice food and oil. But a foolish man devours all he has. You know, learn something from the. Don't just be entertained by the show is what I'm trying to say. There's, there's a lot of wonderful or sad life lessons in the show. There's lessons in here about my family's all screwed up. I've had three of these calls this week. My family's all screwed up because the will got messed up. And you know, my aunt stole my, my 90 year old sister's money and what all this garbage and family drama and all that is, is if you're listening to that, that, that, that's your, the reason you got tuned in right then. It was not an accident. It was not a coincidence. It's telling you to get a will. Get your will done. Get it done. Get over mama bear legal forms or get with a lawyer and get your stinking will done. And make sure you got, don't die with a bunch of little kids in the house and no life insurance. Get on the phone with Xander, get your life insurance. You ought to be listening to the stuff on this show and then going and doing it because it'll change your life and the destiny of your whole family. And man, when that stuff comes in, I don't stop and rail on it enough. Also because it kind of shames the person that I just talked to and I don't want to do that. I mean, I'll pick on them and pick at them to get them to go help themselves. But man, it's so sad to take these calls from these folks that have worked their whole lives and they got nothing. And they're saying, I hope the government, which is well known for its ability to handle money, will take care of me. It's a bad plan. So if you're 32, you're 22, you're 42 and you're listening to this, straighten your butt up. I mean, come on, grow up. Save some dadgum money. Get quit buying $784 car payments and wondering why your butt's broke. That's just stupid. Of course you're broke because you're stupid. Stop it. You know, really, I mean, God almighty, because this is where you're going to end up this sad person who doesn't have, you know, they don't have any money to eat. It's awful. It's awful. It's so sad. So don't just listen to the show for entertainment. There are life lessons in every one of these dadgum calls that are sending out signals to you 30 million people that are out there on YouTube, podcast, and talk radio. So for God's sakes, go do this stuff.
- [07:07]
B
If all you do is consume this show, you are missing out. You got to live it out. Don't say, all right, Dave, I've been listening to you for 20 years. Never did this stuff, but it's entertaining. That's not the point.
- [07:16]
A
Now you're part of the entertainment because you're stupid, you know? Oh, my gosh. For goodness sakes, no, don't be that caller. Don't be that one. Be the one that calls up on the Baby Steps Millionaires theme hour and says, you know, I started this stuff 17 years ago and I got 8 million bucks. Now I've been living on less than I make for 40 years. It's not fancy, it's not sexy, but my family's taken care of, and nobody's. I'm not having to call people for food.
- [07:42]
B
Come on. I want my kid calling, saying, hey, My dad left $10 million. What do I do with it?
- [07:46]
A
There we go. 3.4 million. Here we go. That's the one I want. Create your free everydollar budget today. The simplest way to budget for your life.