The Ramsey Show: “It’s Not Too Late to Get Control of Your Money”

Date: September 30, 2025
Hosts: Dave Ramsey & Ken Coleman

Overview

This episode embodies The Ramsey Show’s signature tough love, practical wisdom, and encouragement around all things personal finance. Dave Ramsey and co-host Ken Coleman field real-world listener questions on key money topics—including family business drama, adult children taking advantage of parents, navigating net worth calculations, homebuying strategies, handling debt, and how to build lasting wealth. With advice grounded in proven principles (spend less than you make, stay out of debt, plan with discipline), they confront callers' excuses and deliver clarity, conviction, and hope.

Key Topics & Discussion Points

1. Family Business Financial Struggles

[00:04–07:58]

• Caller: Brooke (age 30), working for her parents’ small business, sometimes not paid while other employees get paid.
• Main Issue: Business isn’t profitable—Brooke wants to know how to ask her parents for money.
• Dave’s Response: Tough love—this isn’t a “mom and dad problem,” it’s a “business problem.” If you’re not profitable, nobody should get paid; it’s only a matter of time before other paychecks stop, too.
• Actionable Advice:
  • Fix the business first—cut costs, raise prices, or close shop.
  • If the business consistently is profitable yet she still isn't paid, then there’s an integrity issue.
  • Family dynamics shouldn’t cloud good business sense.
• Notable Quote:
  • “A business that doesn’t make money is called a hobby.” — Dave, [03:06]
  • “It’s not random at all. They look down, the bank account’s empty, and they can’t pay you. And that’d be true for the rest of them.” — Dave, [07:00]
• Ken’s Insight:
  • Family roles can blind people to bad business fundamentals. Get honest, make hard choices, or move on.

2. Parents Enabling an Adult Child

[10:27–18:52]

• Caller: Natalie, whose 35-year-old brother lives off their parents, comes and goes, doesn't pay rent, and takes advantage of their resources.
• Main Issue: Natalie wants her parents to stop enabling, wonders if she can confront her brother or help.
• Hosts’ Take:
  • You don’t have control here—it’s your parents who need to change.
  • Enabling is not love: “You are giving a drunk a drink.”
  • Best steps:
    1. Lovingly point out to parents that their actions hurt everyone.
    2. Engage a trusted outside voice (uncle, pastor) if possible.
    3. Sometimes all you can do is pray for a situation to break (“Lord, bring some problems to this situation, please.”).
• Quotes & Moments:
  • “Your brother’s a parasite.” — Dave, [12:21]
  • “It is really painful to watch people you love do stupid things.” — Dave, [13:57]
  • “Let it go. You’ve actually put yourself emotionally in the middle... You have VIP seats to watch this crap happen but you’re a spectator.” — Dave & Ken, [13:33–13:44]
  • Parenting wisdom: “My job here is not to make you happy... it’s to raise you into a good adult so you can leave.” — Dave, [18:52]

3. Should Home & Land Value Count Toward Net Worth?

[23:03–28:45]

• Caller: Kayla from Mississippi debates with her husband if land/house value belongs in net worth since she “would never sell.”
• Dave’s Answer:
  • Yes—net worth is an accounting concept (assets minus liabilities), not about intentions or liquidity.
  • Liquidity is different; but for net worth, your non-retirement assets count.
  • Retirement readiness requires income-producing assets, not just unmoving property value.
• Quote:
  • “Net worth is simply what something is worth. The definition of net worth is an accounting function—it’s a math thing, not a feeling.” — Dave, [23:42]
  • “If anything really goes wrong, you’d sell the farm—no, I’m kidding!” — Dave, [27:25]
• Advice:
  • Diversify assets for retirement; land without income isn’t enough.
  • Their actual assets of $2.7M (in retirement accounts) are enough for her husband to retire.

4. Pausing Retirement Savings for a Down Payment

[33:59–40:34]

• Caller: Andrew, newly married, asks if pausing retirement investments is acceptable for a house downpayment.
• Dave’s Approach:
  • Pay off all debt except the mortgage first.
  • Build an emergency fund.
  • Then, yes, it’s okay to pause retirement savings to build a home downpayment—but for no more than 3 years.
  • Restart saving for retirement as soon as possible.
  • Avoid “overbuying” on the first house (“Forever house is code for I just bought more than I should have.” — Dave, [40:34])
• Takeaways:
  • Stick to the baby steps; don’t rationalize overextending.
  • “No more than a 15-year mortgage, no more than a fourth of your take-home pay.”

5. How to Maximize Retirement Investing & Rollover Decisions

[44:26–47:15]

• Caller: Ryan asks how to invest more for retirement when already maxing Roths and 401ks.
• Dave’s Solution:
  • Max Roth IRA contributions for both spouses.
  • Convert rollover traditional IRAs to Roth if possible; pay taxes now to enjoy tax-free growth moving forward.

6. Stay-at-Home Parent Financial Planning

[47:39–52:37]

• Caller: Matt and his wife (nurse/auditor) consider living on one income ($150K+) so she can stay home with two kids under age 3.
• Advice:
  • Test the scenario: live on one income for a few months.
  • Maintain her credentials (nursing) as a backup.
  • There’s no “leap of faith” here—just prudent math and planning.
  • “This is why you manage money—to live the life you want to live.” — Dave, [50:29]

7. Car Debt & Paying Off Underwater Loans

[54:20–61:03]

• Caller: Dylan, young family with two financed vehicles, one underwater.
• Advice:
  • Not dire—keep the cars, attack debt “scorched earth” style (extra work, hyper-frugal budget).
  • Use side hustles, sell unused stuff (“Sell so much stuff your kids think they’re next!”).
• Quote:
  • “The hole that you’re in with the two cars is not huge… You just get real scorched earth and throw everything at it.” — Dave, [57:50]

8. Millionaire Real-Life Stories & the Truth about Wealth in America

[64:06–74:09]

• Dave shares research: 89% of millionaires are self-made, not inheritors.

• Caller: Jennifer, 52, and her husband—$1.5M net worth, formerly “dirt poor,” now successful after decades of consistent saving/investing.

• Key Lessons:

  • Be open about money with kids to change family trees.
  • Riches come from discipline, intentionality, and prioritizing what matters.
  • Building wealth doesn’t require sacrifice of all enjoyment.

• Quotes:

  • “Don’t hide your journey from your kids... One of our biggest goals was to change our family tree.” — Jennifer, [70:52]
  • “You gotta make choices... That’s big news. You just heard, I’m sure.” — Dave, [74:09]

9. Extreme Low Income with Children & Educational Expenses

[76:24–82:23]

• Caller: Alexis in Oklahoma, three small kids, $25k debt, husband’s apprentice income ($19/hr), she’s in school to “make Grandma proud” rather than immediate career goals.
• Dave & Ken’s Direct Advice:
  • Pause school, focus on tutoring/side hustles to increase income.
  • Husband must pursue better paid opportunities in the trades—settling for a barely-over-poverty-level wage is a math problem, not a lack of effort.
  • Provide for your family: “Your obligation is not to your employer. Your obligation is to your family.” — Dave, [84:38]

10. Client Fear of Sliding Back Into Debt After Past Mistakes

[86:07–93:15]

• Caller: Melissa (Florida) fears she’ll repeat history (paid off debt, then fell into old patterns).
• Dave & Ken’s Wisdom:
  • It isn’t about math, it’s a mindset—decide that going into debt is never an option, regardless of life events.
  • Involve your spouse in decisions, don’t lone-wolf financial planning.
• Notable Quote:
  • “When you decide you’ll do anything to never go back in debt again… that’s a principle-based decision, not a math thing.” — Dave, [89:46]
  • “As our friend John Maxwell said, ‘Make the big decisions early and spend your life managing that decision.’” — Ken, [92:06]
  • Example: “You decide about sex before you even get to the backseat.”

11. Underfunded Pensions—Should You Leave the Job?

[96:08–98:17]

• Caller: Brett, firefighter, pension underfunded by $1B, 13% paycheck deduction he can’t opt out of.
• Advice:
  • It’s okay to leave if the pension is this mismanaged—13% in a solid 401k would make you wealthy.
  • “In order to keep this job, you have to take 13% of your income into the middle of the floor and burn it every week and hope that it’s there.” — Dave, [97:06]

12. Handling Found Money: Invest or Pay off Mortgage?

[98:18–104:13]

• Caller: Cindy in California, husband recently had a double lung transplant, received $285K, owes $260K on mortgage, only $60K in retirement, husband (age 56) now on pension plus health issues.
• Dave’s Advice:
  • Use the windfall to pay off the house—security is paramount in their situation.
  • A paid-off home gives peace and frees up income to catch up on retirement investing.
  • No millionaires are created by investing instead of paying off the house at this stage of life with limited savings.

13. Younger Callers Leveraging the Trades to Massive Wealth

[116:42–125:05]

• Caller: Devin, 24, successful field mechanic, owns home, rental, and expensive equipment, making over $130K/year with business side hustles.
• Steps Forward:
  • Sell unneeded equipment, pay down/service truck debt, accelerate mortgage payoff.
  • Begin investing in Roth IRAs/mutual funds.
• Inspirational Take:
  • Skipping college for trades can be a massively lucrative and fulfilling path.
  • You can “beat the odds” with hustle, wise decisions, and living below your means.
• Ken’s Quote:
  • “This kid’s 24 years old, has a house, a rental, all from the trades. Don’t let anybody tell you opportunity is dead in America.” — Ken, [124:32]

Memorable Quotes & Moments

• “A business that doesn’t make money is called a hobby.” — Dave, [03:06]
• “Your brother’s a parasite.” — Dave, [12:21]
• “Marriage is not about being their friend—my job is to make you a grown up so you can leave.” — Dave, [18:52]
• “Net worth is a math thing, not a feeling.” — Dave, [23:42]
• “Forever house is code for I just bought more than I should have.” — Dave, [40:34]
• “Sell so much stuff your kids think they're next.” — Dave, about tackling debt [58:18]
• “You gotta make choices... That’s big news. You just heard, I’m sure.” — Dave, [74:09]
• “Your obligation is not to your employer. Your obligation is to your family.” — Dave, [84:38]
• “When you decide you’ll do anything to never go back in debt again… that’s a principle-based decision, not a math thing.” — Dave, [89:46]
• “You can’t keep your job and burn 13% of your income in the middle of the floor each week and hope it’s there.” — Dave, [97:06]
• “This kid's 24 years old, has a house, a rental, all from the trades. Don’t let anybody tell you opportunity is dead in America.” — Ken, [124:32]

Takeaways for Listeners

• Discipline, not income, builds wealth.
• Excuses aren’t solutions—face your financial reality.
• Talk openly about money within your family—change can start now.
• Strong principles (no debt, live on less than you make) protect you from both crisis and opportunity-induced mistakes.
• It is never too late—or too early—to take control of your money and your future.

This summary distills the heart of The Ramsey Show episode, spotlighting real stories, specific strategies, and timeless truths for anyone facing financial hurdles or chasing financial freedom.