Quiet The Chaos And Solve For Peace

Summary

The Ramsey Show – "Quiet The Chaos And Solve For Peace"

Date: January 16, 2026
Hosts: Ken Coleman & Jade Warshaw
Theme: Financial peace through clear planning, candid advice, and confronting money chaos

---

Episode Overview

This episode of The Ramsey Show tackles "quieting the chaos" in life and finances, offering listeners strategies to regain peace and control, even when facing overwhelming circumstances. With a blend of practical advice and emotional support, Ken Coleman and newly bestselling author Jade Warshaw answer live calls on topics including sudden income loss, debt anxiety, navigating inheritance, relationship finances, and more. The hosts emphasize honesty, mindful decision-making, and finding support through challenging times.

---

Key Discussion Points & Insights

1. Addressing Sudden Financial Chaos After a Spouse’s Incarceration

• Caller: Megan from Baton Rouge, LA [01:43–08:42]
• Situation: Her husband, the main breadwinner and handyman for their rental properties, has just been jailed for 2–10 years.
• Advice:
  • Try to Sustain Existing Income Streams:
    • Leverage the lawn care business—hire or partner with someone trustworthy to maintain the business.
    • Consider offloading or streamlining assets if necessary (possibility of selling a rental to pay off debt).
    • Rely initially on community support rather than rushing to hire strangers.
  • Reduce Financial Risk:
    • Lower household expenses, assess debts, and focus on what’s manageable.
• Notable Quote:

  "If I’m you... I would go the route of trying first to just get a body. A guy who needs a good paying job, who likes outdoor work. Could be even a young, sharp kid — pay him well, he learns the business." – Ken [05:18]

2. Setting Boundaries with Adult Children and Enabling Behavior

• Caller: Kay from Salt Lake City, UT [10:40–19:21]
• Situation: Kay’s 19-year-old son made poor car choices and she keeps bailing him out financially.
• Advice:
  • Stop Rescuing; Let Lessons Land:
    • Parents learn from their own mistakes; children need to do the same.
    • Putting your foot down means setting clear, immediate boundaries, not passing the problem to another parent.
    • Have an honest conversation and confession with your child about overstepping due to fear.
• Notable Quote:

  “If you seek to keep your son from making mistakes, you are robbing him from the opportunity to learn, period.” – Jade [14:05] “You called us today to say ‘How do I do it?’ This is a massive self-awareness moment for you... confess to your son.” – Ken [17:15]

3. Rebuilding After Depression and Debt: A Creative’s Roadmap

• Caller: Amanda from Los Angeles [21:59–31:42]
• Situation: Amanda, a creative and nanny, has $30k in informal loans, $4k rent arrears, $2k in student loans, and merely 11 cents in her account after a hard year and bereavement.
• Advice:
  • Budgeting is Critical:
    • Audit your bank statements to see where money leaks out.
    • Use tools (EveryDollar app) to get clarity, prioritize back rent, and then tackle debts smallest to largest.
  • Get Busy Working:
    • Increase working hours, take side hustles; productivity is therapeutic for depression recovery.
• Notable Quote:

  “There is a psychological benefit to doing hard things… when you have $1,100 in the bank instead of 11 cents, your spine gets a little taller.” – Ken [29:01]

4. Decision Paralysis after Suddenly Accumulating Wealth

• Caller: Brittany from Nashville [34:19–41:24]
• Situation: Family has $2M cash, considering building a $1.2M–1.4M dream home; feeling imposter syndrome and shame about spending.
• Advice:
  • It’s Not “Imposter Syndrome," it’s Fear:
    • Recognize the limitation comes from your past, not realization of fortune.
    • Steward wealth wisely, celebrate, and don’t shrink because of old scripts of “not deserving.”
  • You’ve Earned This:
    • Years of business growth and prudent risk-taking justify the spend.
• Notable Quotes:

  “You’re not suffering from imposter syndrome. You’re suffering from fear... As opposed to ‘This is crazy’… flip that to: ‘How blessed are we?’” – Ken [37:49, 39:34] “If you got it and it’s good, it’s from God. And just be so grateful… nobody [really] ‘deserves’ it.” – Jade [40:06]

5. Relationship Finances: Cohabitation and Joint Accounts

• Caller: Alexis from Madison, WI [65:35–70:22]
• Situation: She and her boyfriend are planning marriage and want advice about merging or separating bank accounts.
• Advice:
  • Always share income in a single joint account for full transparency and maximum unity.
  • Separate accounts breed suspicion, diminish trust and open the door to secretive/unaccountable spending.
• Notable Quotes:

  “With separate accounts, you do have a shared life. But it feels like a recipe for tension.” – Ken [72:36] “If you choose to do [separate accounts] … I think you shouldn’t.” – Jade [67:55]

6. Navigating Inheritance and Family Complexity

• Caller: Mike from Jacksonville, FL [45:25–52:48]
• Situation: After father’s suicide, grandmother wants to leave his portion of the family inheritance to Mike, not his siblings, who are financially unstable.
• Advice:
  • Decide on a sum you can live with gifting each sibling (“found money”).
  • Don’t micromanage or tie gifts to specific bills — that’s controlling.
  • Trust yourself to find a balance that preserves relationship and conscience.
• Notable Quotes:

  “I think you pick the number and the number that lets you sleep well at night.” – Ken [52:09] “If you try to get too controlling in that area, it’s only going to lead to heartache.” – Jade [52:07]

7. 'Should I Sell My Car?' Young Adult Dilemmas

• Caller: Daniel from Dallas, TX [54:16–63:27]
• Situation: 25 years old, bought a new car right off the lot, payment is $800/month, recently unemployed and back in trade school. Owes $22k, car worth $20k.
• Advice:
  • Yes, sell the car; close the gap by hustling/saving $2k.
  • Buy a cheap, reliable used car after.
  • Work any job to gain financial breathing room; pursue mechanic jobs to supplement studies.
• Memorable Moment:

  “There is no other option… once you have your eye on a car, say ‘can I bring it over to my mechanic?’... They’ll give you the full workup.” – Jade [56:57]

8. Should We Sell a Rental to Pay Down Massive Debt?

• Caller: MacKenzie from Orlando, FL [85:58–94:15]
• Situation: High-earner, $1.6M in mortgages and loans, wife in grad school, has a rental property with $300k equity, $1,200/month positive cashflow.
• Advice:
  • If this isn't a property you'd intentionally invest in today, sell it to clear student loans and focus on rapid primary home payoff.
  • Use current income, now debt-free, to invest in better fits later.
• Notable Quote:

  “Debt changes the way you make decisions. It changes the choices you make... you need clarity… just clear out the debt.” – Jade [93:27]

9. Older Listeners: When Past Financial Trauma Blocks Joy

• Caller: Renee from Columbia, SC [116:57–125:58]
• Situation: 57, recently laid off, financially stable thanks to husband’s high income and robust retirement, but feels daily fear and pressure to earn.
• Advice:
  • Recognize old scarcity scripts; counter every fear-thought with truth about stability, gratitude, and actual numbers.
  • Have fun—turn side hustle income into “fun money” (trips, dinners).
• Notable Quotes:

  “Thoughts and emotions, they’re like waves. We can’t stop them from coming, but we get to choose which ones we surf… awareness is key...” – Jade [122:28] “When you start to feel that old voice of insecurity… go back and look at your numbers.” – Ken [122:06] “We like it when people call in heavy and float off the phone.” – Ken [125:39]

---

Notable Quotes & Memorable Moments

• On Letting Go: "Mistakes are necessary. That’s how we learn. You learn by touching a hot stove." – Jade [14:05]
• On Imposter Syndrome/Fear: "Imposter syndrome is a fancy way of saying doubt. You actually are afraid... if you spend this kind of money... that’s not the safe or the smart thing to do." – Ken [37:49]
• On Joint Finances: “With separate accounts, you do have a shared life. But it feels like a recipe for tension.” – Ken [72:36]
• Parental Boundaries: “You’re not helping him, you’re hurting him by bubble-wrapping him.” – Ken [15:41]
• On Buying Used Cars: "None of those things are true when we’re talking about the kind of car we’re talking about here. But it gets you from A to Z.” – Ken [58:11]

---

Important Segment Timestamps

• [01:43] Megan: Coping with sudden loss of main income
• [10:40] Kay: Setting boundaries with adult children
• [21:59] Amanda: Climbing out of debt/rebuilding after depression
• [34:19] Brittany: Overcoming fear and spending a windfall wisely
• [65:35] Alexis: Merging finances in a new marriage
• [45:25] Mike: Dividing inheritance
• [54:16] Daniel: Surviving a car loan with a sudden job loss
• [85:58] MacKenzie: Sell investment property to clear debt?
• [116:57] Renee: Releasing old money fears and embracing financial freedom

---

Closing Remarks

The episode highlights that quieting chaos is not just about numbers, but facing fears, being honest about motives, leaning on community, and embracing the peace that comes with clear-headed stewardship. Jade and Ken’s compassion, tough love, and humor shine throughout, urging listeners to have courage, make intentional choices, and, above all, be kind to themselves as they grow.

---

End of Summary

Transcript

[A]

Brought to you by the EveryDollar app. Start budgeting for free today. Normal is broke and common sense is weird. So we're here to help you transform your life. From the Ramsey network in the Fairwinds Credit union studio, this is the Ramsey show alongside Jade Warshaw. I'm Ken Coleman. The phone number to jump in is triple 882-55-5225. Breaking news, folks. It's rare that I ever get to do breaking news and I love breaking news. We're going to get to the calls, but I got to tell you, I was just informed not very long ago, just a couple of hours ago, that I'm sitting next to not just the fabulous Jade Warshaw as I want to introduce you, but the best selling author Jade Warshaw. The new book, what no one tells you about money, a national bestseller. We're talking about an unbel out of the gate performance. We're talking about all books out there and she's at the top of the list. Congratulations, my friend.

[B]

Thank you, my friend. I appreciate that.

[A]

Very exciting. Just the, the beginning of this book and its impact is being celebrated today. But I wanted to say congratulations. I know you, the audience are very happy for those of you that supported this amazing message that's going to actually help you. Thank you.

[B]

Yes.

[A]

So you ready to roll?

[B]

I was hoping you had like a toast or some, A drink or something. A bourbon or something.

[A]

I don't. I have a. I have it. Well, there's a lady in the lo. And what is that?

[B]

Lemonade?

[A]

It's Minute Maid lemonade. Sure. We'll take an honorary swig on that.

[B]

Yes, we will.

[A]

Let's go to Megan who's joining us in Baton Rouge, Louisiana. Megan, how can we help today?

[C]

Hi, guys.

[A]

Hi.

[C]

I am going through some changes. You know, my income is drastically. Well, my family's income is drastically changing.

[A]

What's happening?

[C]

Basically, my spouse is going away for some time. You know, we're unsure of that timeline. Maybe two to 10 years of that's finalized. But I'm trying to get, you know, ahead going away.

[A]

Going, going away for some time. I just don't want to assume anything, but I think. You mean he's going to jail.

[C]

Yes. Oh, yes. Unfortunately, I, I don't want to get into.

[A]

Sure, that's fine. Totally get it. Just wanted to make sure we understood.

[B]

What you're dealing with and tell us again the timeline.

[C]

Maybe two, maybe up to 10 years and when.

[B]

And when, when?

[C]

Well, he's in the jail right now and. But you know, he just got Was arrested last week, so it's very early.

[B]

Okay.

[C]

So we're just. I'm just trying to get ahead so I don't get behind.

[A]

Yeah, Tell us, really, really, tell us what the financial impact will be as relates to losing his salary.

[C]

So, you know, he owns a lawn care, landscape and business. You know, he. We also have three rental homes that bring an income and he's the handyman for those and for those rentals. So he's usually brings in, you know, between 10 and $15,000 a month.

[B]

Okay, what about you? Do you work at all?

[C]

I work full time and I bring in about 4,000amonth after, you know, taxes and insurance.

[A]

Okay.

[B]

Are there children?

[C]

We have two children, yes. 11 and 17. The 17 year olds in her senior year right now. They both go to private school.

[A]

Crazy question.

[C]

Yeah.

[A]

Is the lawn care landscaping business, is it thriving?

[C]

He does good on it, like. Yeah, he can.

[A]

Sounds like it is good at it.

[C]

Yeah.

[A]

So. So here's where I'm going here. And I'm not. I don't want to get too into the weeds here, but because all of this is coming at you like a tornado. I know you have a lot going on, but if I'm sitting in your shoes, I'm trying to figure out with him how you can keep that business going. Does he have people that work for him or is he doing all the work?

[C]

He does a majority of the work. He has, you know, all the equipment and things that I'm so not involved in.

[A]

Totally understand that.

[C]

I've never really, you know, wanted to be involved. You know, I wanted to keep our jobs separate, you know, as a married couple, you know, not to mix that and yes, his. Yes, I would. I don't think that I could carry on with that. But he, right now he has one employee because it's the winner. So, you know, not a lot of things are going on during the winter, but yes, he does the majority of the work.

[B]

I'd be wondering if there's a secondary person you could bring on to take his place. Yeah, and the deal is you're getting the benefit of having basically my book of business. And so we're splitting the profits in some way. And so instead of losing out on $15,000 a month, maybe you're only missing out on five or six thousand dollars a month. Do you see what I'm saying? And so essentially there's a. Either maybe a 50, 50 split or something there. That's what I'd be looking to do. Because you would not want this to go down the drain simply because I agree.

[A]

You know, and again, I don't want to stay locked in on this, but this is actually relevant to why you called. If I'm you. And Jade gave you one option. Bringing somebody in as kind of a quasi. Feels like a partner. Is what you were suggesting. I'm suggesting you talk to your husband and this is like legal pad simple, right? And you're going, okay, babe, how many hours a week are you actually doing something in these lawns versus who does the accounting? I would get a brain dump from him and talk to him as though this is possible. Because I think it's possible. And I would go the route of trying first to just get a body. A guy who needs a good paying job, who likes outdoor work. Could be even a young, sharp high school kid who's graduating. He doesn't want to go to college, wants to go in this field. And you go, I tell you what, here's my situation. I need somebody that I can count on. And here's what you're going to do. I'm going to pay you really well and you're going to learn this business for yourself now. And what you would have to do is, is step in and make sure that if your husband was doing the accounting, that maybe you hire a bookkeeper. But again, we're talking about a very small expense to take. Maybe what he has been doing that's not in the field and running the business side of it and see if you can replace it. I think it's worth kicking the tires. I think it's worth a really detailed conversation with your husband to see if we can keep this thing going. Because to Jade's point, if we can keep this thing turning out 10, 12, the occasional 15,000, that's a pretty healthy little business. And my gosh, I think it's worth trying.

[C]

Okay. Okay. Yeah. I mean, I would definitely could put out some ads for maybe a new worker I can get with a guy that's working for him right now. And definitely, yeah.

[A]

Do you have a good support system, like community, whether it be church or neighbors or family?

[C]

I have a few close ones, yeah.

[A]

And they're standing with you? They're not deserting you in this crazy.

[C]

Thing as far as right now? No, nobody's deserting me.

[A]

That's why I'd start. I wouldn't do ads right away. I think you need people who are going, hey, I totally am with you. I see where you are. I understand what's going on. And we're going to rally to try to help you with this plan.

[C]

Okay.

[A]

We want to try to keep this income going but Jade, let's transition to worst case scenario if all of this income goes away.

[B]

Well, the first thing we need to see is like how secure of a position are you in? I mean do you guys have a bunch of debt? Do you have tell us more about your kind of month to month situation.

[C]

So yeah, the only debt that we have, so our personal home, our mortgage is about 4,000amonth. We owe about 260 left on that.

[B]

Any other details?

[C]

The other one, rental house is mortgaged and we owe about 140 on that one.

[B]

You know, I'd be looking to simplify this if I were you. If you, I want you to go home, I want you to write out all of your debt, consumer debt, and then I want you to consider it might be worth it to offload one of these mortgages, take the equity and pay off all of your consumer debt because you want your expenses as low as possible going in, especially with the changes coming possibly to his income.

[A]

Hang on the law. We want to get you into everydollar, our gift for a year. And I want to get you with a financial coach to help you deal with the trauma and the details. You know, one of the first things I discovered working in the financial world is how absolutely devastating it is when the breadwinner of a family dies and there's too little life insurance or none at all. Grieving families are suddenly left behind, scrambling to pay bills and trying to make ends meet. I also discovered that there are a lot of rip offs in the life insurance world like that whole life crap posing as an investment opportunity. What you need is level term life insurance, usually 10 to 12 times your income, which is the smartest, most affordable way to protect your family. The key is finding an independent broker who represents a ton of companies and works for you, not for the insurance company. This is exactly my friend Jeff Zander and his team at Zander Insurance are all about. They shop the term life companies to find you the best options. And they've been around for over 95 years so you know they'll be there when you need them. Zander is the real deal and that's why they've handled all my personal insurance for over 25 years. I trust them and you can too. Visit Zander.com for instant online quotes or for a more personal touch. Give them a call at 800-356-4282. All right, let's go to Kay who's joining US in Salt Lake City. Kay, how can we help today?

[C]

Hi, thank you for your help. Thank you. So I have a 19 year old at home. He's working and his hours have been reduced recently, but I feel like his finances have become my problem. So a few months ago he had a paid off car, everything was great, no debt, and next thing you know he goes and trades that vehicle in for a 2018 BMW. Insurance of course, is now being deducted from my account because I was trying to help him. So he, the plan was for him to give me that money every month. That didn't happen all the way through this last week. He only gave me a portion of it. One of the parts on his car went out. So of course I came in trying to help him and paid for the part, which was not cheap and kind of a few things of that sort with the vehicle. He wasn't able to pay the registration the first couple of months. So it just kind of been piling up. And I'm just trying to figure out how do I put my foot down, where do I draw the line? And I'm at the point where I, I've come to the point to ask him to move out to his dad's house because I feel like there's always something with that where I'm coming in to save him and I hold on.

[A]

A second, that's your choice. I'm going to jump in. I'm going to jump in. I have heard you say of course twice when you described that you swooped in and tried to help and now you're saying I'm at the point where I want to send into his father's and I got to tell you something, this isn't this kid's fault and sending him to live with his father isn't going to solve the problem. And I'm on your team, Kay, but the problem is you.

[B]

Yeah, you're acting like this is happening to you.

[A]

You asked us how do I put my foot down? And here's my answer.

[B]

Put it down, stomp it.

[A]

You've actually never put your foot down. It's like hovering all the time. And he knows it, by the way. I'd park the car if it were me. And I, I just think you have to stop. Like you're so worried about something. So there's fear underneath why you won't put your foot down. So the technical answer to how do you put your foot down is, is determine what is this thing you're so afraid of happening and keeps you from putting your Foot down. That's the simple answer.

[B]

So what is it?

[C]

Well, if I. I'm trying to not have him make the same mistakes I did when I was younger and, you know, screw up his credit score and. And there's just so many things of. Like getting into so much debt.

[A]

Did you learn anything from those big mistakes?

[C]

I did.

[A]

There you go.

[B]

Really?

[A]

Wait a second. Wait. Tell me. How is it that you learn from those big mistakes?

[C]

Well, I was. I was on the side of him not getting this loan. I was advising him to save his money.

[A]

No, you didn't answer my question.

[B]

What Ken is asking you is the mistakes that you made, what did you learn from them? When you were his age, what did you learn?

[C]

Wow. I. Well, I don't know how to answer that.

[B]

Yes, you do. Yes, you do. Here's what we're getting at. What we're getting at is mistakes are necessary. That's how we learn. You learn by touching a hot stove. Oh, don't touch that. You learn by trying to, you know, do the things that you're not supposed to do. And then you learn what you should do. That's the process. That is the process of maturing. You cannot keep your son. If you seek to keep your son from making mistakes, you are robbing him from the opportunity to learn, period.

[C]

Yeah, and I agree. And that's why I'm. I want to. I want to put my foot down. I just don't know how far. Is too far. Is.

[B]

You're not even close to too far. You're not even close.

[A]

Well, I. Yeah, you know what, though? I actually think that you threatening or going through with sending him to his father's is too far, because I'm going to tell you, and again, I'm not picking on you.

[B]

But that's.

[A]

Hold on, hold on.

[B]

That's not even too. That's not even. I got to say this, though.

[A]

It's too far. You're punishing him for something he didn't do.

[B]

Well, that's what I'm saying. Her sin, you sending him to the father's house, not you putting your foot down. That's you coping out. So that's why I said you're not even close, because this is. This is something you must deal with. And if you send him to the father's. To the father's house. Sound like a sermon here. If you send him over to his father's house, that's you ducking out and going, I don't want to deal with this. I'm just going to Take myself out of the picture. And we are suggesting that you stay fully in the picture and deal with your portion of this issue.

[C]

Yeah, I guess. Sorry. What I'm trying to explain is I'm sending him over because I'm helping him as best as I can. But I give him advice and he doesn't take it.

[A]

No, you're not. You're not helping him. You're actually hurting him. And you're hurting him by bubble wrapping him. This kid's bouncing around because he knows there's no jagged edges. There's no chance he gets financially bruised because mom is always there. And I will tell you, you will hurt this kid's spirit if you send him to his father for something he didn't do. I think the best thing you could do for him is to confess to him today. I have been so soft. Here's why. I'm afraid of this and this and this. And because of my fear, I did what every parent and every person who's a fearful person does, we try to control. And Kay, I'm talking to you as a man who's guilty. If I lined up all three of my kids, I got a 17, 18, 20, and I've confessed this to them where I have done this. So I'm being real, real with you right now. I was so controlling for a season in my life. I created more strife in my house because of my fear. And my fear made me controlling and my controlling created unnecessary tension and in your situation. And I want Jade to check me on this. What we're hearing is in your attempt to allay your fears. And I'll bet you there's more fears you haven't even identified. But I appreciate you sharing one with us. You are actually harming him. You called us today to say, how do I do it? This is a massive self awareness moment for you. And then a massive confession to your son. And in the confession you say, so I cannot in good conscience allow you to do this anymore. So as your mom, here's how this changes this car. I'm taking your keys and it gets parked. Until this happens, this happens. I'm just telling you that's what I would do. But first with a confession so that he realizes, oh, mom is actually trying to help me. He may not like it, by the way, but it's far better than you going, I'm washing my hands. I don't know if you know the story in the Bible where Pontius Pilate, the crowd wants to crucify Jesus and he goes, all right, and he literally washes his hands and says, you take over. I think that's what you're doing if you send him to his dad's house.

[C]

Okay, I, I see your point. I, you know, I'm just trying to navigate through this and see it's gonna. Where do I stop helping him and you know, stop.

[A]

Yeah, stop bailing him out on any of the car expenses.

[B]

I think you swapping your mindset on this right now, you're viewing it as a him problem and a him thing that I need to stop and a him problem I need to solve and a him thing that I need to keep from happening. This actually doesn't have much to do with him. It has way more to do with you. This really is, to Ken's point, a you problem and a you self awareness moment. I like that Ken said that. And I think by way of you figuring that out, it will solve the whatever him problem that, that exists. Because think about it. He's really just doing what a kid his age is gonna do, which is see what the boundaries are, see if what he can get away with, see if mom and dad, that's what he's wired to his face.

[A]

His frontal lobe, Jade isn't even close to fully developed.

[B]

Yes, to your point. Yeah. You guys. So I, I mean, yeah, I'm not gonna, I'm not gonna beat a dead horse on this, but I agree with Ken 100%.

[A]

But listen, K, we want to encourage you, okay? We shot you straight, but I want to encourage you. You're not a bad mom, so don't beat yourself up over this. But literally, just say, hey, buddy, I blew it. It's going to freak him out, possibly probably going to make him a little mad, but you got to stop it now. And then you'll find that one of these days you'll really look back and go, I don't regret that I did this. So hang in there. Get your chin up. Mom. This parenting stuff is hard. You have a phenomenal heart. You're a great lady. Okay, so we're not beating you up, but little tough love here. Just from experience, from my side of things, and I've been there, you can do this. When you've saved up and paid cash for a reliable used car, you want that thing to last. And the best way to keep it running for the long haul is to take care of it with people you trust. That's why I'm proud to welcome Christian Brothers Automotive as the official auto repair partner of the Ramsey Show. At Christian Brothers, they treat you like family. You'll get digital vehicle inspections so you can see exactly what your technician sees. A complimentary shuttle to keep you moving. And every repair is backed by their nationwide nice difference warranty. They've even been ranked number one by JD Power for customer satisfaction among aftermarket full service maintenance and repair providers six years in a row. Visit jd power.com awards for the details. So if you want your paid for car to keep going and going, trust Christian Brothers Automotive. Visit cbac.comramsey to find your local shop and get an exclusive Ramsey discount of 10% off your visit. 10% off up to a $250 value. See store for detail. All right, let's go to Amanda who's joining us in Los Angeles, California. Amanda, how are you?

[C]

Hi. How are you?

[B]

Good.

[A]

How can we help?

[C]

Okay, basically I am 46. I've always been a creative person, so I've never had a 9 to 5. I'm in a pretty substantial amount of personal debt. I'm just wondering, like, I'm ready to like, get my financial life together. I just never had it together, so I really have no idea where to start.

[A]

Well, you know what? You're in the right place. You're in the right place. You started by calling us today. This is exciting.

[B]

Yeah, I love creatives. I'm a creative. So I'm excited to learn what you do creatively.

[C]

Yeah, yeah. Well, I'm a singer, songwriter, just a musician.

[A]

How are you paying? What, what is your source of income right now?

[C]

Right now I'm a nanny.

[A]

Okay, and what are you making?

[C]

30 an hour before taxes.

[B]

How many hours are you working?

[C]

30.

[B]

Okay, so you're still kind of in the part time realm.

[A]

Why. Why are we only working 30?

[C]

Well, in the beginning it was a little bit more, but then the parents are working through a divorce and now just because their time is split, like my time is a little bit less just because the parents want to spend more time with the kids. And so I have been trying to get additional. I'm with a nanny agency. I've been trying to get additional jobs, but those are kind of as they come, so they're not regular. And I'm also looking into some side hustles, but it's not happening, like right now. But right now I have like 11 cents.

[A]

You have 11 cents in your account?

[C]

Yes.

[A]

That's fantastically bad. But I must say it's hilarious how detailed that is. You're like, she's at 11 cents. Jade.

[C]

Okay, I just checked it.

[B]

First off, let me, let me Validate that and say, I've been there.

[A]

Yeah, so I've never been that long.

[B]

Oh, I've been there. I've been there. And below.

[A]

Okay, paint a picture for us. What kind of debt you got?

[C]

Okay. Personal loans. My best friend has been helping me out for the last few years just whenever she can. And so I want. I'm not taking any more money from her, but I want to start paying her back. And then I have about 2000 doll in school debt. My car is paid off, and I'm working on paying back some back rent because I was out of work a lot last year, which is why there's some stuff that I have to catch.

[B]

How much is your rent?

[C]

800Amonth.

[B]

Okay, so I'm not hearing. I'm going to be honest with you. I'm not hearing the details. That should add up to 11 cents in your account. So something else is going on here because you don't have any car debt, your rent is in a good spot for somebody who makes 3, 600amonth nannying 30 hours a week, plus whatever little bit of money that you're bringing in from whatever gigs you're doing. Be real with us and tell us where the problem is, because this is either.

[C]

I, Again, I'm, I am, I am very like, I have a lot of money anxiety. I don't know how to hold on to it.

[B]

But what are you spending it on?

[C]

Oh, well, right now I'm giving almost my entire check to catch up on rent. So my, my check after tax is about 770, and I give at least 400 of that to my, my roommate every week to catch up on rent. So that's leaving me $300.

[B]

How much do you owe in back rent total?

[C]

I. By my calculations, if I keep up at this pace, I'll be done by March.

[B]

No, no, no, that's not what I asked. I said how much total do you owe in back rent?

[C]

Total, Total. I owe another $4,000.

[B]

And tell me. This is where I'm trying to get the realness. Tell me why you were out of work for so long that you didn't pay rent for of quite some time.

[C]

Well, I was paying like partial, but I was out of work just because, you know, I was working like part time and less so because I. This is probably about a year. I've also been working through a lot of depression. I've had two parents die in the last two years.

[B]

Okay, now we're getting somewhere. I'm.

[C]

Yeah, I'm trying to make A cut. Well, I don't. I don't want to make excuses like I know that I did.

[B]

It's. Those aren't excuses. When we're talking, we have to talk in full reality. Otherwise, we'll talk around the issues and what you've. Once. I pushed you to get real. You told us some very important things, which is you lost two parents in a very short period of time, and it makes sense. I'm not saying that it's a wonderful idea, but it's 100% normal for people to kind of. It's like being in the dark, and you're just rooting around trying to find the light switch. And a lot of people run up debt during that time. A lot of people are. It's. They fall into a depression during that time. That makes total sense. And now Ken and I can go. Okay, now we understand why you were behind rent. Now we understand why you weren't working for a year. Now it makes sense. And do you feel that, like, you've started to come out of that fog of depression?

[C]

Yes. I have therapy. I have help. I've been really working hard on it. So that's why I really want to get ahold of this.

[A]

Good for you.

[B]

Good.

[A]

Well, here's the great news, Amanda. You're not in this mountain of debt.

[B]

No.

[A]

I mean, that's what Jade's getting at. We're not hearing something where it's like, your life is going to suck for the next three years. And never see the inside of a restaurant unless you're working in one. Like we say it, some people. You've heard us do that. So the good news is you've not done a ton of damage. That's the good news. And I hate to be so simplistic, but sometimes, you know, when we're depressed and we're down, and I love that you're getting help and you're getting the tools, but, you know, one of the best things you can do right now is get super busy working.

[C]

Okay.

[A]

It's one of the best things you can do, and here's why. And I'm no therapist, but. And you can talk to your therapist about this. But I'm going to tell you something. There is a psychological benefit to doing hard things.

[B]

Yeah.

[A]

Because you've been through some hard times.

[C]

Yeah.

[A]

But doing hard things is such a wonderful, wonderful elixir for the soul. Yeah. And you know, when you're working really hard, it's hard to be down because you're so daggum busy. And then when you're working really hard, and you have $1,100 in the bank instead of 11 cents. Then you now your spine gets a little taller. You tracking with me, Amanda?

[C]

True. Yes.

[A]

Come on.

[C]

What do I do once I get the eleven hundred dollars?

[A]

All right, I'm gonna. I'm gonna let Jay. All right. You're in good hands. Jay's gonna coach you.

[B]

Yeah. So you told me. I'm just gonna repeat back what you told me. You told me you had $2,000 in student loan debt. You told me you have $4,000 in back rent. Is there anything else that we need to add to the list?

[C]

Oh, the personal loan was about $30,000.

[B]

30,000 in personal loans.

[C]

That's the big one.

[B]

That's okay.

[A]

We didn't catch that.

[B]

So what we're gonna do. Can you tell me the payment for the personal loan? What do you pay every month for that?

[C]

I haven't started paying it yet.

[B]

When does it start?

[C]

I want. I mean, it's. My friend lent me money over a period of time, and I haven't taken any money from her, but now I'd like to start paying her back. So there are no terms.

[B]

So your friend lent you the 30,000. Okay, so here's what I would do. I would start by focusing on this back rent, and that's what we would tell anybody. If they're behind on their rent, mortgage, you gotta do that first. That's your. That's. That's your livelihood. You need that. So the $4,000, I would go ham on that. It sounds like you've got $3,600 a month. And after the 800, after your little dinky student loan payment. Cause it can't be that much on a $2,000, you know, loan. You should have so much money at your disposal. Right. Okay. Do you. Okay.

[C]

I. I don't feel like it right now. I mean, like, I'm paying. I. I just feel like every check, I have about $90 for gas because I commute to work. And that's it. Because I'm giving all my money. So I.

[B]

But, yeah, so here's what we're going. Here's what we need is a. We need a budget. Because right now, just given the numbers that you've told me, you should have lots of money to put towards this.

[A]

This.

[B]

So what I want you to do, we're going to give you every dollar. Christian who picked up before is going to pick up again. You're going to get every dollar, and you're going to put Every bit of money that you've earned into that budget. And really what I want you to do is go back and look at your bank statement for last month and look at, see how much did I get paid? Where did the money go? And do an audit on that. Because I think you have more money than you think and it's being spent in ways that you're not realizing. Because from what I hear, you've got a pretty basic life financially and there should be lots of margin going towards paying back this back rent. So that's going to be first on your, on your list. And then we're going to head into the student loans. But you got to know the numbers before you can make progress.

[A]

If collectors are blowing up your phone every day and you're living in constant fear of the next call, you're not living, you're surviving. You don't need more noise or more stress. You need help you can trust. That's why I recommend Guardian Litigation group. Guardian isn't a call center reading from a script. They're real attorneys who can step into the courtroom and fight back when creditors try to sue you. Debt settlement isn't glamorous. It's not the preferred path. I'd still rather see you pay it off the old fashioned way. But if you're overwhelmed, out of options and trying to avoid bankruptcy, Guardian can help quiet the chaos and give you a real way forward. With no upfront fees, their attorneys have helped more than 55,000 people settle over $600 million in debt. And when the noise stops, you can breathe. To learn more, go to guardianlit.com Ramsey that's guardianlit.com Ramsey Attorney Advertising Results may vary and no specific outcome is guaranteed. Our folks, you know this, but I gotta say it, we need to be reminded of it. Buying or selling a home is a massive deal. You don't want to just go willy nilly with that. When you want an expert in your corner. The Ramsey trusted program is the only way to find a top agent who will make sure that this sale or this purchase is a blessing, not a burden. So you can find a local Ramsey trusted real estate pro for free. Free. And you can do [e-mail] agent ramseysolutions.com agent or because James Childs, our fearless leader, does such a good job with the show notes. You can just go to the show notes. I call it a cornucopia of goodness. Do you know what that means?

[B]

A cornucopia. I do know what a cornucopia is.

[A]

Did I say that properly?

[B]

I think that it was an extreme way to say it, but I'll go with you.

[A]

The cornucopia is just full and overflowing of all kinds of goodness. That's the notes. There's anything we say if we have a link. I just want to make. Make it clear. The show notes.

[B]

Just.

[A]

Just go right on over there.

[B]

I'm here for it. Cornucopia.

[A]

Add it to the people won't forget about the show notes today.

[B]

It's a cornucopia of goodness.

[A]

Thank you very much. Brittany is joining us now right here in our backyard of Nashville. Brittany, how can we help?

[C]

Okay, so I think I'm calling in today to maybe get permission to do something with our money.

[A]

Well, it's your lucky day, because I am in a perm or denying mode.

[B]

I'm feeling pretty good. Brittany.

[C]

So we have approximately $2 million in cash.

[A]

That doesn't suck.

[C]

No, but making decisions does actually suck.

[B]

Where'd the cash come from?

[C]

So, personal savings, plus some investments that we cashed out. We have been sitting on some cryptocurrency that we actually planned to use for this purpose for building a new home. So now we are getting into the nitty gritty. It's coming in at about 1.2 to 1.4 to build this home.

[B]

Great.

[C]

And so, yeah, great. So this would be our forever home at the school that we want our children to attend, that they already attend.

[B]

What's bothering you, Brittany?

[A]

What's bothering you?

[C]

It's a big number, and I think we're dealing with a little bit of imposter syndrome here. I think when we got married, we had nothing. And in fact, as soon as we got married, I got laid off from my job. About four months later, we have three children. We own our own business. Once we have this house, we will have the house. We will not have any additional debt. We'll still have a successful business. But again, I think we're dealing with some imposter syndrome here. Or maybe not. Once we build the house and we take care of our tax liability for this year after taking out one year of living expenses. Well, I say living expenses. Once we take out what we pay ourselves in a year, which is about $120,000, we would have about $330,000 left to reinvest.

[B]

Why are you taking. I have a question. Why are you taking. Taking a year's salary out of that? Is that for an emergency fund or just.

[C]

Because you never know. We do our own. Our own business.

[B]

Understood.

[C]

If something happened to my husband.

[B]

I get it. I get it. I just wanted to be clear.

[A]

I got to jump in. Permission granted. Are you asking for permission to actually pay cash for this dream house?

[C]

Yes.

[A]

Yes. Permission granted. I feel so powerful. No, but can I address something? I don't think you guys are suffering from imposter syndrome. First of all, imposter syndrome is a fancy way of saying doubt. Would you agree with me? Brittany.

[C]

I'm not sure if we deserve this.

[A]

That's my point. So imposter syndrome is I doubt that I belong. I doubt that we. But you actually are dealing with shame. There's some level of shame. Not because you did something. Many times people hear shame and they go, oh, no, no, no. I think it's because what you guys come from. You said it. We come from nothing. I think you said something to that effect. Is that right? Right?

[C]

Yes.

[A]

Okay, great. That's what it is. You guys aren't suffering from impostor syndrome. You're suffering from fear. You actually are afraid that if you spend this kind of money, all this huge money. Which 2. $2 million is a lot of money. If we spend it, we're going to somehow screw up, and that's not the safe thing or the smart thing to do. And I would actually tell you that this is absolutely, incredibly smart. This is a huge real estate investment that you could get the money back. You know it, and I know it. There's zero risk on this. I mean, in the real. I mean, we're talking about, you know, the world coming to an end. Sure. But outside of that, you guys, this is not a risk. And. And I'm just curious. I want to walk you through a super fast exercise. How many years did it take you to amass the $2 million?

[C]

About three years. We started with small investments.

[B]

Great.

[C]

And we've been sitting on this cryptocurrency for about two years.

[A]

Okay, great. And then the next question is, how long has the business been alive and well?

[C]

13 years.

[A]

13 years. There's no imposter syndrome here. You guys didn't just fall off of a potato truck and into this. I mean, you guys worked at it. You took some calculated risk, and it paid off for you. So I hope. I'm just trying to get inside your head to say this is fear, not doubt. You guys are afraid that if you spend this money, it's somehow wasteful because you come from so little. Did I just hear you?

[C]

Yes, that's exactly.

[A]

Yeah, I know. I've talked to so many people like you. It's just so unbelievable. Based on where you guys came from, as opposed to flip that to, wow, how blessed are we? How grateful should we be? This is awesome. As opposed to, this is crazy that we're going to cut a check for that. Jade, I want you to come in on this because I know you have perspective on this and emotions around money. Money. What are you hearing? You hear Anything different?

[B]

I 100 agree. When you first started talking, Brittany, I thought, man, this is exactly what I talk about in the book when I talk about fear of success and fear of failure, and they tend to coexist. And it's just that feeling of, man, if I. What if I blow it? What if I have this great thing and I blow it? People are going to be able to. And it's broadcast for everybody to see because it's my home. It's all of that. So I agree with Ken wholeheartedly. And I'll tell you what came to my head. My pastor used to say all the time, if you got it and it's good, it's from God. And just be so grateful. It doesn't have to do with whatever you deserve. Cause nobody does.

[A]

Who.

[B]

Who deserves, right? Like, come on, let's be honest. And so if you have it, think of it as something that you're supposed to steward well and look after and be just such a good. Take such great care with. And I believe that you're gonna do it. The fact that you're here on. You called us in and called in and you're in tears about this. You're gonna manage this well. You're gonna look after and said you're not new to the game. You guys have been working for a long time. You understand the value of a dollar. You understand hard work. I have no qualms about saying to enjoy this home that you have gotten as a wonderful blessing because of your hard work and effort.

[A]

Yeah, yeah. Jade and I will come by and dedicate it. She'll sing, I'll say a few words. It'll be cool.

[B]

Yeah, we'll cheers. Don't forget about us. Don't forget about us little people. Brittany.

[A]

You know, here's the key on this, Brittany, when you get it, because listen, this is gonn back up. So that's why you heard both of us kind of go into mindset stuff for you. Because this is going to pop back up. This little. This little demon is going to pop back on the shoulder. And here's. Here's the thing. You got to remember. Forget all the Rah, rah. We just did. You guys are going to be paying cash for a dream home, and you still have a full year. You're going to set aside of your expenses plus a very healthy company. You're not broke. You're not spending every nickel in your life. We didn't even ask you what your retirement portfolio is and everything else. This is a very dedicated expense. That is the best expense one could have, which is a dream home that you pay cash for. And you still got some leftover. So when the demon pops up on the shoulder, say, shut up, we got plenty and enjoy this and bless people with it.

[B]

Yeah. And keep talking. Keep talking to people like Ken and I who will celebrate with you. That's what you need. You don't want to be around people who make you feel like you got to shrink back. We all want peace.

[A]

Peace with our money, our homes, our schedules. But having peace online is important, too.

[C]

Most of the time.

[A]

When you sign up for a coupon.

[B]

Enter a giveaway or click yes to another email list.

[A]

Your personal info, like your name, your phone number, your address gets collected and.

[B]

Sold by data brokers.

[A]

And before you know it, your inbox is overflowing, your phone's full of spam calls, and your data's floating around who knows where.

[B]

That is why I love what Delete Me does. Their team of privacy experts find your.

[A]

Personal info on those creepy data brokers.

[B]

Sites, gets it removed and keeps it off. It is simple, it's safe, and it.

[A]

Gives you more peace of mind.

[B]

That means fewer spam calls, fewer scams.

[A]

And way less digital chaos.

[B]

You have worked so hard to find peace with your money.

[C]

Now it's time to find peace with your digital life.

[B]

Start protecting your privacy and your peace. Today, go to joindelete me.com Ramsay for 20% off an annual plan. That's joindeleteme.com Ramsey.

[A]

Welcome back to the Ramsey show in the Fair Winds Credit Union studio alongside the new truly minted best selling author of what no One Tells yous About Money, the fabulous Jade Warshaw. I am just Ken.

[B]

Thank you, my friend. You're never just Ken.

[A]

Isn't that a song in the Barbie movie I'm Just Ken or something like that. I could be wrong.

[B]

It's bothering me that you've seen the Barbie movie and I have not. I have not.

[A]

I haven't. My daughter has.

[B]

Oh, okay.

[A]

Told me about it.

[B]

And how do you know?

[A]

Oh, because there's lots of songs around.

[B]

Ken, the famous Just asking for a friend. My friend saw the Barbie movie.

[A]

Oh, this is a true story. No chance. I paid for my daughter to go with her friends with no chance I was going to try to sleep through that. Cuz I would have slept through that. Do you know what I mean? I can't watch any like, kids movies or anything that's not interesting.

[B]

If you say so, kid.

[A]

20 minutes in, you're out catching flies.

[B]

That's what happens when I try to watch Star Wars. Out, out. Like, like a light.

[A]

Hey.

[B]

All right.

[A]

We have to spend more time off air on that statement. I don't know what's wrong with you. Okay, I'm going to let that one pass flush. Mike is up in Jacksonville, Florida. Mike, how could we help?

[C]

Hey. Well, my dad committed suicide a few years ago.

[A]

Oh my God.

[C]

And he. When that happened, I flew there and, and handled everything. And my grandma decided that she would take what would have been my father's inheritance and give it to us kids. His portion of. Of it. She asked me if it should be me and my siblings or just me since she doesn't have a relationship with them. And I said, just put me for now. My. There's a bit more nuance than that, but my concern is what. What do I do? I feel like they are entitled to something, but every time they get any type of lump sum or they make any type of advancement in their life, they do things to sink themselves even further. They both have kids and I'm scared that if they just get a lump sum, they're. It's gonna do a lot more harm than good.

[B]

Okay, let's.

[A]

Can we rewind a bit?

[B]

Yeah. My. My first. Well, first off, I'm so sorry, so, so very sorry for your loss. But the first question, Ken, that I have is, is grandma still with us or has she passed?

[C]

Okay, not yet, but she is. I've been in contact with my family and she's. She's closing in on that time.

[B]

Okay.

[C]

Becoming more and more of a reality.

[B]

And how much money are we talking about?

[C]

Depends on exactly how long she remains, but it could be anywhere from 100 to about 120k total.

[A]

And was she the sole beneficiary of your dad's will?

[C]

So my dad didn't have anything. So when my dad died, there was nothing anywhere. We were just left with debt. So no one got anything from my dad.

[A]

But I thought that's how you started off the call. Forgive me.

[B]

No, this is sorry.

[A]

It's her inheritance.

[B]

It's what she wants to leave that she was gonna leave to their dad. But now that he's.

[A]

I apologize.

[B]

Gone early.

[A]

I thought. I was listening. I was trying to listen. I apologize. Okay, so, grandmother, has it been written in the will that you're the only beneficiary, or are we still chatting about this? To write it down, it is just.

[C]

Well, so it's just. It's me and then my. My dad, siblings on my aunts and uncles, and there's. There's four of them. And then me in my place.

[B]

So this is already split five ways.

[A]

The 120.

[C]

That 120 would be my portion.

[B]

Understood. Okay, so after the aunts and uncles, there's 120,000 and you're deciding, do I split this with my siblings? How many sibling do you have?

[C]

Two.

[B]

Okay, so there's three of you guys and your other two siblings, you're like, hey, they can't have a lump sum of money. They'll do this, this and that. Are we talking about. I'm trying to understand the level of immaturity. Are we talking about they'll do drugs and drink it and gamble it away, or are we talking about, hey, you know, they have a car payment. I don't believe in car payments. Tell me, tell me what level we're talking about.

[A]

About.

[C]

So my, my middle brother, he has five kids total, only has custody of one. His wife has five kids, has custody of two. One of them being shared between the two of them. They live in an apartment. My brother went through bankruptcy a few years ago, and the second he was finished with bankruptcy, took about a $2,000 dog and was making payments on it. Then he got a new job, was making good money, and immediately bought a brand new car off the lot. May has these giant payments.

[A]

Okay, I'm getting a picture. Let me ask you this, and this is an attempt to give you an answer through the lens of what would I do? If I understood correctly. Did grandmother contact you and say, should I will some of my money to your brothers?

[C]

The exact conversation was, I'm going to put you guys as the. To take over what Mike would have gotten. Do you want me to put you or your brothers? She reached out to me because she doesn't have a relationship with them. They haven't spoken in years.

[A]

So that's a nuance. The way you just said that. You said you or your brother, she said, said, do I give your dad's portion, which we're saying is 100 to 120,000, somewhere in that range. Do I. Do I give it to you or your brothers? That's what you just said now that's.

[B]

A very different question versus just you or your brothers.

[C]

Yeah, I sorry. I meant just me or just me and my brothers. In terms of name on.

[A]

So Will. So here's grandma has come to you and. And she's putting it in your lap or she's asking your opinion. Yes. And you haven't gotten back to her?

[C]

I did. I told her to put just my name.

[A]

Okay, so you're having second thoughts.

[C]

So to me.

[A]

No, I get it.

[B]

Did you tell her why?

[C]

It's. It's. I did not tell her. Why? She didn't ask.

[A]

All right. Are you having second thoughts?

[C]

I'm not necessarily having second thoughts about my name on it. I think that's appropriate. I'm more concerned about what do I do for them. I feel like they dude deserves something. It was their dad that passed too, not just mine.

[A]

So let's stay right there.

[C]

I just.

[A]

I'm with you. We got a little limited time and I'm trying to walk you to where you can feel good about your decision. This is your decision, not Jade or mine. All right, so I understand what you just said. So before you called us, I know that you thought through an amount. Let's just play with 100,000 as an easy round number. What were you thinking about giving each of them?

[C]

Well, I've kicked two things around. I've kicked around giving them each 10 because that's not quite enough to do too much damage. And I've also thought about just paying something off for them rather than handing cash.

[A]

I have a quick follow up. Do they know that grandmama has asked you any of this or that they might get any money or are they clueless?

[C]

They're clueless.

[B]

Okay, let me jump in. I think the third, the middle option, when you said I could just pay something off for them. Them, I would not do that. I think you're trying to control the situation too much. They. They're who they are and they're grown and they're adults and they're going to make your. Their decisions. I think if you try to get too controlling in that area, it's only going to lead to heartache for. For both parties.

[A]

I. I'm ready to rule.

[B]

Go ahead.

[A]

I'll give you the last word. I'm just going to quickly say, I think you pick the number. I don't care if it's 10, the original thought. You pick a number. Number that you can sleep good at night. They don't know. So this is going to be found money for Them and you don't. I think you pick a number and the number that lets you sleep well at night. Jade, that's my take. It's what I would do if I were him.

[B]

I mean, I'm inclined to split it equally three ways. As long as nobody's doing drugs. Yeah.

[A]

Yeah. And I, I don't hate that I don't have any kind of push pushback. I'm just trusting your gut. I'm coaching you. It's your call based on what your instinct was. But I like that you got two options.

[B]

Yeah.

[A]

Thanks for the call. After the holidays a lot of people start feeling budget pressure and it's a wake up call to get intentional. So listen, don't fall for buy now, pay later cell phone plans that drag you back into debt. Boost Mobile keeps it simple with no contracts and no nonsense. Keep the phone you already own and pay just 25 bucks a month forever for unlimited data, talk and text. That's real long term value and real peace of mind. So budget like you mean it and go to boostmobile.comramsey today to make the switch. That's boostmobile.comramsey restrictions apply. See boostmobile.comramsey for details. All right, now we go to Daniel who's joining us in Dallas, Texas. Daniel, how can we help today? Daniel, you there?

[C]

Hello? Yes, can you hear me?

[A]

Yes sir. Can you hear us?

[C]

Yes sir, I can hear you as well.

[A]

All right, how can we help?

[C]

Good. So I have a question. So I think it was about two years ago. It'll be two years in March. March 2024. I bought a brand new car right off the lot. At the time I was like 23, 3/0 miles I had. It's about 515amonth and with insurance it's also another 300amonth. That's about like as close to 900amonth. About 800 paying just on my car, car loan. I'm thinking should I. Because like recently like I got laid off from my job. Back then I was working so and I was living in my parents house. So it wasn't necessarily the like the worst for me to go into the. I mean looking back at it now, I wish I didn't but I was wondering do you guys think I should like sell my car? I owe about 22, 000 left on there. Yeah, I think Kelly Blue book. Yeah. So what do you, what do I think I should do?

[B]

I think I'm thinking yes, I want to get more information but I'm, I'm, I'm starting With the yes. How much do you earn?

[C]

Well right now I'm unemployed. I'm. I'm back in school so I'm living off unemployment right now. Right now it's about 500 a week.

[B]

Yeah. Then definitely there's, I mean if you really think about it, there is no other option. You can't afford this car, you don't have a job. And so for that reason I 100 would get out of this. Now you owe 22. What's it worth?

[C]

20. That's the only problem?

[B]

No it's not. It feels like a problem but it's not as big a problem as you think. If I were you, I would try. Are you still at your parents house or no?

[C]

Yeah, I am.

[B]

Okay. What I would do is I would scrounge up 2,000 bucks a month out of that 500 that you're getting and I'd close the gap and get rid of this thing immediately. And then your next move, while you're doing that, you're picking up a job, any job, any, literally any job for now. And then you're going to scrounge up that money and you're going to turn around and take another two or $3,000 and you're going to, to buy a used car in cash. And I'm just saying this in the comments because I know people are like you can't buy a fifteen hundred dollar, you can't buy a two thousand dollar car. Yes you can, Ken. The car that I drive, my Cadillac, it's a 2013 SRX. It's worth about 1500 bucks. Now I didn't pay that for it but I've driven it.

[A]

The car that's out there, it's got.

[B]

168000 miles on it.

[A]

It looks like it's worth more than that.

[B]

It has no problems. I could set like I literally could sell it to you today and you wow, I can't believe I got this. So they're out there is all I'm saying.

[A]

You might should sell it to him. He needs a car.

[C]

Where do you think I can find a car for that affordable. That's you know what I mean? Because like my last car I had it was breaking down a lot. That's the reason why I ended up buying like a new car out the lot. And it's a new, it's a Honda too. So I know it's gonna like my car that I have right now. Pretty reliable.

[B]

You just need to make sure that you're doing a little bit of research and Buy brands number one. Buy cars that you still see on the road. Road like you. You can't go wrong with a, a Camry. You can't go wrong with some of these cars that are still out there. You're just looking for something that's got a bunch of miles on it, it's older and try to just get the report on it, try to find out has it been in 10 wrecks, has it been and spend a little bit of, of money to have a, a mechanic look at it and get the carfax on it. That's really all you need to do. Matter of fact you can. I don't know where you live, but here we have Christian Brothers Automotive and that's where I take my car, my husband's car. Both of us drive very used cars and we take them in there and they'll look at it. If I was going to buy a new used car, new to me or a used car today, I'd bring it over there and they'll do the report on it and it's totally worth it. So that's what I would tell you to do. Once you have your eye on a car, say hey can, can I, can I bring it over to my canic mechanic, take it to Christian Brothers and then they'll give you the, the full workup on it.

[A]

Yeah, and, and just little specifics. I mean you're looking, looking at Facebook Marketplace, you're looking at, I don't know what all the websites, but you're looking not so much for dealers, just everyday people who are looking to unload a car. And if you're patient enough and listen, you're gonna have to, you know, assume some hardship. But you're living with your mom and dad so there are options. So this idea that I gotta have a nice car and all this kind of stuff, it's really not true. But you know, if, if you are looking and you find somebody that's got a car in one of these Hondas and you know, or a Toyota, you know, that of thing and again you take it to Christian Brothers, they're going to give it a, give it a once over and you may have to put 5, 600 bucks into it, but they're honest and they're going to tell you this is a drivable car. Does it look pretty? Does it smell great? Is the carpet nice? None of those things are true when we're talking about the kind of car we're talking about here. But it gets you from A to Z. I want to pivot for a second. What is the purpose of school for you? What are you doing? Is this community college I'm in?

[C]

No, I'm in trade school. I'm enrolled at a aviation mechanic school. So I have about, like, a year.

[B]

That's great.

[A]

Fantastic. Daniel, I gotta tell you.

[C]

Appreciate that.

[A]

I am so excited for you. What is the.

[C]

Appreciate that.

[A]

What is it costing you?

[C]

This is. It's like about 40. I took a loan. I wish. I like. I'm thinking about enrolling because I was talking to somebody in my class today about it, about, like, enrolling in the reserves because I think it's. I think they can, like, cover.

[B]

I'm not mad at that idea.

[A]

I don't dislike that either. I don't want you spending 40,000 on this trade school, but. So if you can get out of that and not do that, that's great. But I love the trade school option for you because as a. You're going to make some really good money, my friend.

[C]

Yeah, I love it. I love it. I just tried my final today.

[A]

How old are you?

[C]

You. I'm 25. Just about 26.

[B]

Yeah, I like that. I'm going to tell you what I like about what you're doing. I like that you were reflective enough to look at this car and say, this is not good. A lot of people would have tried to ride it out, kept it. I like that you're thinking about your future. You made a couple of mistakes. That's all right. You're on the right track. And Ken and I just want to really encourage you that you're on the right track.

[A]

So do you believe.

[C]

Thank you.

[A]

So talking to this guy, do you believe that you can get out of the commitment if you were to pull stakes and go to the reserves? In other words, are you on the hook? I want to make sure you're not on the hook for $40,000.

[C]

Well, yeah, I am on the hook. That's the problem. Like, I'm like, I already took the loans, everything.

[B]

You've already paid for the full thing?

[C]

Yeah, it's like. It's already, like, paid for. You know what I mean?

[A]

Like, I see. So you've already got the loan and the school gets their money up front, and then a year from now, is that when you're done, and then you start paying on the loan?

[C]

Yes. Yeah, but like, I'm taking. I'm starting to make, like, interest payment. I'm making. I'm paying. Like, I decided to pay, like, I think it's like $50 a month on the interest for now.

[A]

How many hours. How many hours a week could you work? If Jaden, I just handed you an awesome paying job. And knowing your commitment to trade school, how many hours a week could you work?

[C]

I'll probably do about like 20 to 30. Dirty.

[A]

Is there any. Is there any kind of mechanical or apprenticing type work where you're getting a really nice chunk per hour fixing. Fixing something?

[C]

I was just talking to. I was talking to somebody in my school today. She's like, she helps find people to get jobs. Like, that's her. Her role is to do that is like, help you find a job so after you graduate, you can help get an ap, but also while you're in school.

[A]

Great.

[C]

Trying to find like a airport. So she. She was telling me about some jobs that pay about like 22, 23 an hour that will. They're basically like being a mechanic without the actual license.

[A]

So. Proud of you for asking. But, Daniel, the answer is yes. Yes. I'll take. I'll take whatever you can find me. This woman you're telling me about is your new best. Yeah, I'm not.

[C]

I'm not. Yeah, I'm not. I'm not. I'm not picky with the job. Like, I really want an airport job just so I can get the fight in the p. I'm not like, I know right now, at the end of the day, I just need a job.

[A]

Yes, you do. Because. Because we got to get out of this car mess. Action A is what Jade told you. You sell the car, you. You borrow. Mom, dads, they drive you. Whatever we scrape, we do. Whatever we got to do, we claw. And then we get to a point where we can buy a beater car. We talked about that.

[C]

All right?

[A]

We told you to go see Christian Brothers if there's one in your area. Okay. Now. Okay. Okay. And then it's just whatever you're making in this 23, $24 an hour job is going to pay off this debt so that you can knock as big a chunk of that out as possible so that when you hit the streets. Now, again, if you go to the reserves, it's not a bad idea, but I like the options you're considering. Lay them all out on the table. Seek the counsel of wise people in your life, make the best decision for you, and just avoid debt. My mom, man, I love that you're. You're aware of this, but you can. You can make really good money and you got a bright future ahead of you, Daniel. Bright future.

[C]

I appreciate that.

[A]

Get Rid of the debt, Stay away from it. Foreign.

[B]

If you missed open enrollment, don't panic. Most health plans lock you out for the year if you didn't sign up by December. But Christian Healthcare Ministries lets you join anytime. CHM offers a simple, flexible and budget friendly alternative to health insurance insurance. And you can join anytime. That's right. No open enrollment deadlines.

[A]

CHM is perfect if you're self employed.

[B]

Starting a business or in between jobs.

[A]

Because it gives you options without those.

[B]

Out of control COBRA costs. And CHM isn't insurance.

[A]

It's a community of believers coming together.

[C]

To share medical bills and pray for one another.

[B]

That's real peace of mind.

[C]

You're not just sharing a costs, you are sharing.

[B]

Community and families have trusted CHM since 1981 with billions of dollars in medical bills shared. You can see any doctor or hospital.

[A]

You want with no network restrictions.

[B]

And members say that they often save hundreds of dollars a month compared to traditional insurance. So make a change that fits your budget and your values.

[A]

Check out chministries.orgbudget to learn more.

[B]

More.

[A]

That's chministries.orgbudget. All right, let's go to Matt Madison, Wisconsin where Alexis is joining us. Alexis, how can we help?

[C]

Hi guys.

[A]

Hi.

[C]

So my boyfriend and I are newly devoted and intentional with our money individually.

[A]

All right.

[C]

We talk about marriage, we talk about our incomes, our debts and all those goals. And so with that being said, when we get married, I am intrigued to the idea of having one joint checking account and savings account with our incomes being deposited and budgeted for from that we share versus if we were to have separate checkings and then just like one joint account, how would those operate in the idea of unity?

[B]

I mean, I like the first way you said that. That's the way my husband and I do it. I'm guessing, Ken, that's the way you and Stacy do it because there's full transparency there. The question that I'd be asking with the other way, having two, two separate checking accounts and then you take your monies and, and put whatever amount you deem necessary into the joint account. It's kind of like, well, what's the purpose there? So I'd have a lot of questions around that. What, what's the purpose? Why wouldn't we both have access to the full amount of funds? Why wouldn't we both be planning what's done with that full amount of funds? Do you see what I'm saying?

[C]

Yeah. And that's what I was wondering. And just between the two, I'm more intrigued to the. Just one joint or. Yeah, one joint. Checking and savings. But we just weren't sure what you guys would say.

[B]

I would say that. I would say for transparency reasons and for the ability to be aligned and everybody to see what's going on and kind of have a, you know, hey, all hands in the center, you know, that kind of thing. Yeah. If you guys are both open with that, I think that's fabulous. And I think you say, say less. Let's do it. Now, the. The multiple accounts thing thing, the. The only. The only reason that I think people go for that is because there's still a bit of, like, independence that they want. And there's still this bit of mine is mine. Lack of trust. I want to keep a little bit over here for myself. I don't want anybody to have to say about what I spend money on over here. I don't want to have to answer to, like, quote, answer to anyone for this money that. Do you see what I'm saying? So it really does beg many, many questions. It. If you choose to do it that way, which I think you shouldn't.

[C]

Okay, well, perfect. Because we're both on the same page of being intentional together.

[B]

Love that we're married.

[A]

Great. You're going to have a greater level of trust, greater level of confidence. It's such a good move. It's what we teach. We don't believe that married couples should have separate finances come together as one. So, yeah, you guys are doing it. Great. Congratulations on all of this.

[C]

Thank you.

[A]

Future dreaming and all this good stuff. We're here for you as you move along. Call us back and we'll walk through that with you.

[B]

Ken, when you and Stacy got married, was that an automatic, or did it take time for you guys to get that?

[A]

It was automatic.

[B]

Why?

[A]

It's what our parents did.

[B]

Yeah.

[A]

I mean, we grew up in a house where there were two accounts, a checking account and a savings account.

[B]

Right, Same.

[A]

And we're not talking about investment, but just. Just your. Your everyday money. So, I mean, full disclosure. My wife and I are both pastors, kids. So very conservative Baptist. You know, small churches. So it wasn't just conservative theology. It was just conservative living. Do you know what I mean? They lived on less than they make, so that's all we ever knew. In fact, I wish Stacy were here, because I don't think I'm wrong. I don't think we ever even had a conversation about it, about it at all.

[B]

It just happened.

[A]

It was just like, when we get back from the honeymoon we got to do we want to stay with my bank or we want to. You know, we were at two different banks when dating.

[B]

Uhhuh.

[A]

And so she was in North Carolina and she was going to move to Virginia with, you know, so it was like, well, here's who I'm banking with in Virginia. And it was just kind of like we got to set up a join. It was just day one.

[B]

That's so interesting.

[A]

We never even considered. And I've always kind of done that, that dog head tilt when people call in to this day, even though I've sat in this hundreds of hours, you know, maybe thousands. And it's like every time I hear something that I go, I just, I just don't understand why you would want to have separate accounts.

[B]

It's got to be a trust issue. Because I'm even thinking about Sam and I, and it was similar. It was just like you and Stacy. It wasn't even a question. And when I really think about it, I go, well, well, I had plenty of reason to say, you know, things I've seen. And he had plenty of reason to say the things I've seen. Like our backgrounds did not truly set us up to combine money, but I'm guessing we really just had trust in each other because it was like a no brainer.

[A]

I'm just gonna say. And again, I mean, everybody has their own foibles and faults and everything, but just as a guy. Now coming up on 28 years of marriage. Marriage. I'm so grateful that my phone location is on and she knows where I'm at.

[B]

Oh, that's right. Yes.

[A]

She sees any expenditure.

[B]

Yes. She has, I'm sure, the code, you know, the six digit code to get into your phone.

[A]

100%.

[B]

Yes.

[A]

We have the same phone password. Because, I mean, you know what I'm saying?

[B]

Well, let's play devil's advocate. What would happen if you changed your phone code?

[A]

And she said, I shudder at the thought of the idea of removing. Not because I'm this bad person. Here's what I don't want. I don't want anybody. Like Ken's fighting team.

[B]

No.

[A]

I'm just saying, like, it's nice to live a life where, you know, there's. I'm going to call it an instinctive accountability.

[B]

Yes.

[A]

Like we've both made mistakes with money.

[B]

Yes.

[A]

But we've never done something insanely stupid in our almost 20 years of marriage. Because. Because even if I want to, like, surprise her.

[B]

Yeah.

[A]

Like I have to say, hey, listen, for the next 72 hours, I need you to not look at the account.

[B]

Don't look at the account.

[A]

That's my life. And she knows. Why Are you doing something squirrely? No, she knows. Oh, you want to surprise me? My surprises are like, you got to.

[B]

Reveal a little of the surprise.

[A]

But I'm not griping about it.

[B]

I'm saying, no, it's great.

[A]

I just think human nature, left to its own devices, none of us are above doing something dumb, immoral, whatever, Whatever, whatever. And I just think that when we talk about combining finances, it's accountability. And I like that we're going down the rabbit hole on this. I'm spending a little time on this because sometimes I want people to understand why. We have a principle. And the principle that we teach here at Ramsey about joint finances isn't just about, you know, being responsible. It's also to keep you from wrecking your life.

[B]

You need somebody to go, what? Wait.

[A]

What? What were you just thinking about doing? You just spent what? On what?

[B]

Take it back. Yeah, 100%.

[A]

Because when you have the separate accounts, what doesn't change is that you do have a shared life. But a shared life with separate accounts, to me, feels like a recipe for tension.

[B]

It's not fully shared.

[A]

I agree with you. I agree.

[B]

There's just something about it. Because if Sam had his own account. Account. I would have qu. I would just wonder, what are you. I would wonder, what are you spending your money on? Not that he's a great guy. I have no reason to assume he's spending money on bad things. But to not know and you know what. And to not be told is like, why are you. Why would you withhold information that is easily shared? Is basically what I'm saying.

[A]

So that it creates something that may not even be there.

[B]

Yes.

[A]

But just by the very nature of. Well, I've got my thing. Well, it's of kind of stuff. One of my favorite stories Sam just told me recently. So you guys in your budget. Sam and I. I've told you this. I'm not going to. I'm not going to.

[B]

I know where this is going.

[A]

Well, I'm not going to share that part unless you want to share it, but Sam and I were having cigars recently. He was telling me that you guys like a lot of couples. You guys have your budget, and it's his money.

[B]

Yeah.

[A]

You have.

[B]

Do you call his and hers money?

[A]

His and hers.

[B]

His and hers fun money?

[A]

Yeah, it's fun money. And he said, I'll go months and months and Months without spending it. And he goes, I'll just hold it aside, hold it aside, hold it aside, not use it at all. And then go buy something really big.

[B]

Yeah.

[A]

And I like that.

[B]

Yes.

[A]

And it reminded me of how there's the individuality, because you guys have decided ahead of time, this is my money. This is your money. And he may not spend it for months and months and months. And he told me this story because he went out and did something, and even then he was telling me, and he was like, do you think that's crazy? And I go, not at all.

[B]

No.

[A]

I said, I think that's a massive flex.

[B]

Yeah. And when he told me, he goes, I thought that you were gonna think this is the dumbest thing anybody could spend their money on. I said, I don't think that at all. Yeah.

[A]

And I. I said, it's not dumb. I said, you know why? Cause this thing you're doing is gonna be a memory that your entire family will talk about 50 years from now.

[B]

He bought an original Ninja Turtles suit from the movie Teenage Mutant Ninja Turtles back in the day for family.

[A]

Halloween comes downstairs. Kids haven't seen it. He looks like he walked off a movie set.

[B]

Yeah. And my kids, they'll never forget it. It was a great memory.

[A]

And it was expensive.

[B]

Yes.

[A]

But he saved it up in his sock drawer for months, and that's how it works. Good on Sam. Right?

[B]

Good for him.

[A]

I love. Foreign. Folks. If you're wondering where all your money went in 2025, that's pretty normal, and normal's broke. But this year can be different. We want you to get a head start by downloading EveryDollar. EveryDollar builds your personalized plan and coaches you to find extra money. You can answer a few questions that we prompt you with, and you'll find thousands of dollars on average to be able to save in just the first 15 minutes. And, of course, it still has the great budgeting features to tell your money where to go. So don't go another year feeling broke and stressed. Start every dollar for free in the app or Google Play. All right. 888-255-225 is the phone number. Michael is up next in Knoxville, Tennessee. Michael, how can we help?

[C]

Hey, guys, appreciate you having me on. Big fan of the show.

[A]

Thank you. How can we help?

[C]

All right, so I'm gonna try to kind of wrap this up. It's a lot as quick as I can. I'm a football coach, high school football coach and teacher. A couple years ago, I took a job at a really prestigious school. Football wise, it was a football move, but also more importantly for my family, it was a financial move. Been making more money as an assistant coach, honestly, that I thought I ever would unless I became a head coach, which is a goal of mine one day. Fast forward to now. You know, two years ago we played for a state championship, Made it to the final four another year. So football's been great, money's been great, But I've come to kind of realize that it's not a place where I want my kids to be at one day as far as when they start getting up in their school years and looking ahead at that. That's kind of been an issue for me and it's been weighing on me. So since this season ended, I've had actually two different places reach out to me. Offers to go to coach and teach. Obviously, both are kind of pulling at me in two different directions. I feel like I'm at a roundabout, not a four way. So it's like, you know, do I. Do I stay where I'm at, making really good money, knowing that it's gonna kind of keep me away from my family more than I want. And then one job, okay. Is at another prestigious place, really great place. The pay is really good. Not quite as good as what I'm making now, but I mean, it's. It's just top of the line as far as family atmosphere and having my kids.

[B]

What do you mean by that? Can I ask a question? When you said keeping you away from. First you described it as you didn't want your kids to grow up in that school system. Was that what it is? And then you said keeping. Keeping away from my family. So is it your schedule or is it the community? Which one is it? Or is it a combination of both?

[C]

Well, it's some of both. You know, it's a demanding schedule, but. But it's more so, you know, I've been blessed throughout my career. You know, my daughter is nine now and she, since she was a baby, she's just kind of been able to come with me so much throughout the off season, you know, for meetings and practices and, you know, and I've had this dream of my boys. You know, my daughter's cheering one day like she wants to do my boys, kind of being water boys and on the sideline, just being around me.

[A]

Yeah, but you don't want them in this current school.

[C]

Exactly. I don't. Absolutely not.

[A]

Okay.

[C]

So that's reasons.

[B]

Okay.

[A]

So because of time, I want to get. I feel like I Heard we got a good grip on what you are doing now. So you gave us another option. Is there another? So we got where we are, and then we have option A and B. Am I understanding that correct?

[C]

That's right.

[A]

All right, so option A is fabulous. School. How much less money?

[C]

About seven grand a year. Less. The downside of that, Ken, is it's three and a half hours away. So it's selling a house we built on my wife's family's land that she kind of deeded to us, which they. We've talked to them about it. They're okay with it. But there's that stress of, you know, because it's kind of a quick turnaround, you know, getting ready for next season. So if I take this job, you know, then we have that stress of finding another home, which I don't think is going to be the issue, but hours in a short amount of time, you know, or do we rent it? There's that whole thing that's really just stressing me out.

[A]

I get it. And let me ask a quick question on that one. Is your wife open to moving from this current place where it's your family's land or her family's land?

[C]

She is. And just greatness. I told you this. Yeah. And I'll tell you this. This is a lot. And so we've got three, two children, and we actually have one on the way.

[A]

Come on. All right, well, Coach, I ain't worried about you. You can handle it. I understand this is stressful, but I'm okay now. Let's look at option B real quick. Talk us through option B.

[C]

Option B is actually my hometown, my alma mater. I've worked for the guy who's there now before. He's like a father to me. Great guy. Love the guys on staff. I played there, wants me to come back. Also, both of these position offers are for coordinator positions, so it's a move up there. It's a significant pay cut. So it would be a, you know, 20, $25,000 pay cut. Yeah.

[A]

And are you. Are you the sole income?

[C]

I am. My wife stays at home. I am.

[A]

Okay, before I weigh in on this, I want to know the truth, Coach. Where's your heart if no one else is involved? Jade and I aren't weighing in. Your wife's not weighing in. Nobody's weighing in. In on it. In the quiet of night. What's your heart telling you about these three? Stay A or B?

[C]

The only option A. I mean, I want to go. I want to go to this Want to move up north, you know, come on, go to the mountains. Come on, have my family with me.

[A]

Come on.

[C]

It's just that fear of the home.

[A]

You know, I'm not worried about that. All right, let's walk through that. But before we walk through that, I want Jade to walk through any of these logistics. She's great at this kind of stuff. Here's what I want want to say, okay, As a guy who's completely objective, sitting here listening to this, I want to go with your heart answer. Unless your heart answer is stupid and your hard answer ain't stupid. Now, it's a coordinator job, so it sets you up to be a head coach one day. So this is obviously, this meets the ladder box I'm always looking at when I give advice to people. Does this get me further up the ladder or position me to move up the ladder? And it puts you further up the ladder. The $7,000 hit, I'm going to absorb that, because if I am that over 12 months, I can tighten the belt and I can absorb a $7,000 hit. 25 is too much. And I think if you play your cards right with your old coach on that, maybe you replace him one day. Who knows?

[B]

Who knows?

[A]

So I like option A. It's now just about handling that stress. Jade, you've moved recently with younger kids. Kids walk him through what he needs to do. If his wife's on board, sounds like she is, he's stressed out about a move three and a half hours away to get there, get on board and get ready to go for the season. What does he got to walk through?

[B]

I mean, both of you have to agree. Number one, I hope that her gut instinct is the same as your gut instinct, or else you guys have many conversations to have.

[A]

That's fair. Number one, does she think A is the best move?

[C]

She does. You know, she. It's important to her for that family atmosphere. For sure.

[B]

That's good. And then after that, I'm just gonna say, how so I know that the. The location on screen is not accurate, and probably the location that you're telling us you're going is not accurate. But is it a couple of states over or are you moving?

[C]

No, no, same state. I'm in south state. I'm in southern part of the state.

[B]

Okay.

[C]

Three and a half hours up, you're, you know, in the mountain.

[B]

Okay, got it. That's right. You did say three hours away. The biggest thing is just to plan for and save up as much as you can in this area. The Interim because moving is expensive. It takes time to get settled. There's a lot of eating out during that time. There's a lot of like, oh, gosh, we just realized we don't have this and you run over to Walmart and get it right. There's just a lot of expenditures that come up. So I would just be going through the budget with a fine tooth comb right now, figuring out what we can, you know, save money on so we can stack up as much cash as possible, get as much information ahead of time. How are you going to move? Are you going to do the U haul thing? Are you going to, you know, have somebody card it over for you? What are you going to do? And just make a plan and stick to the plan. That's the best thing that you could possibly do on this. And then what I would also do, probably tonight or this weekend, because we're coming up on the weekend, I would set a date night with your wife and say, let's make a budget with this $25,000 pay cut.

[A]

No, no, no. Seven.

[B]

Seven.

[A]

Option A is a $7,000 hit.

[B]

Okay? I wrote it. Well, let's make a budget with that $7,000 hit and see how this is. Is going to affect things just again so that there's no surprises or so at least you're mitigating the surprises. There's always going to be a few.

[A]

You know what I wish, Coach? I wish in the background we had the theme song from the greatest television show of all time, Friday night Lights. Did you ever watch it? The TV show?

[C]

Absolutely.

[A]

All right, Coach, finish it up for me. I feel like there's only one thing to say for you. Clear eyes, full hearts, full heart. Say it.

[C]

Can't lose.

[A]

Can't lose. Go get him, coach. Welcome back to the Ramsey show in the fair winds Crest credit union studio. I'm Ken Coleman, best selling author of what no one tells you about money. Brand new national bestseller, topping the charts. We shared the news earlier today, if you didn't know. Super excited to be sitting next to her. She is Jade Warshaw. So fun. Congratulations again, my friend. That's always a fun, fun and very, very rare air. So congratulations to you.

[B]

Thank you.

[A]

Mackenzie is up Next in Orlando, Florida. MacKenzie, how can we, we help you?

[C]

Hey, thanks for having me. I. I was going to get your thoughts on an idea I have around possibly selling a rental property and it might be good for me to give you some background.

[B]

Yes, sir.

[C]

So I currently make 400,000 a year and my wife's in school she's going to be working once she finishes her grad school, she'll probably make about 150. But we don't have any credit card debt, we don't have any car notes. The debt we do is 850 on our current house and we have combined about 300,000 in student loan debt.

[B]

Okay.

[C]

And then my first house that I had before our marriage has a mortgage of about 450 on it. So all in about 1.6.

[B]

Okay. Okay, go ahead.

[C]

So the rental Property that has 450 on cash flows about 1200amonth, which is good. It's been phenomenal. It's in like the best part of the city. Great schools, it's just, it's great location. It'll probably appreciate really fast. But my question to you is that house has about 300,000 in equity.

[B]

Okay.

[C]

Is it worth holding on to the house, continuing to rent it and having it as a cash flowing asset it once I get into retirement, or is it better to sell it now, take the $300,000 in equity and pay off student loans for my wife and myself?

[B]

I personally, I, I'm going to, I'm going to give you two, two options here. There's part of me that I would sell this house immediately to clear the student loans. Then I look at your income and I go, well, heck, I want to know how quickly she's going to be making 150.

[C]

She graduates in May and she'll start working in August.

[B]

Interesting. Now I want to know this because this is a lot of times we step into real estate and it's just like by default I just had this house and I decided not to sell it. And so now it became this. Is this. If you were looking to buy a real estate rent rental, would you have picked this house? Because it just so happens.

[A]

No.

[B]

You said no. Okay. That's all I need to know. That's all I needed to know.

[C]

Could I, can I add some context?

[B]

I don't know. I don't think so. Because if you had said, you started by saying it's in a great neighborhood, it cash flows so well. And every once in a while here, when people have stepped into real estate, even if they've done it the wrong way, if it seems like it could benefit them, I'm not as quick to say, sell it off. Right. But in this case, all I needed to know is is this a good enough property that you would have bought this looking. And you said no. That's all I needed to know.

[C]

Ken, what about you the context. The context.

[A]

Look at it. McKenzie's in the corner. You painted him in the corner, and now he's trying to get out.

[B]

Okay, get out, get out.

[A]

I want to give him a shot.

[C]

The answer you provided, probably it might be right. But the reason why I said no is not because it's not in a great area. It said, if I was investing in real estate, I wouldn't look at a $500,000 house, which is what this was.

[B]

Exactly.

[C]

I would be looking exactly. It has. But it has worked out that it has rented well and cash flowed, and it's in the best area and it has the best schools. And so I do think if I look down the road 20 years and I look back, I'd be like, man, I'm glad I have this house, and, you know, thankful. But then there's also the looming $300,000.

[B]

Right. And I see what you're saying. I totally understand it. What I was trying do to. Trying to get to was, could there be some intentionality around this that you could look back and go, I didn't mean to do this, but I'm so glad this dropped in my lap, because if I was, I would have picked this. I just didn't know I was looking. Right. That would have been a little bit different for me, I think. For you, I don't think that the opportunity. I think that it's. I think that it's a fair trade off for you to say, well, I can pay off the $300,000 of student loans if I clear out this property. And then by the time, you know, the house is up on the market, it sells. By then my wife's going to be making 150,000. How quickly could we then pay off our current home? And then how quickly could we say, you know what, let's get back into real estate, and now let's purchase a thing that we think we would have bought, which, like you said, is not a $500,000 house. It's probably something half that price. And you could do that so very quickly and do it from a position of stability because there's no debt, your personal residence is covered, that sort of thing. That's what I'm thinking.

[C]

Yeah, that's great. And I really appreciate that insight. One of the things that I did look at is, like, if I kept the house, how fast could I pay off the rental house and my primary house?

[A]

I had that thought, well, what's the.

[C]

Answer if I double down on it? The answer is 18 years.

[B]

Oh.

[C]

However, if I Sell the rental property now and then put everything into the primary house. I could pay it off in 10.

[A]

I like, plus pay off the loan.

[C]

If I sell the house, I could play off the loan and have my primary paid off.

[A]

That's what I'm saying. Let me ask you a question, Mackenzie. I feel like. I feel like we've talked around this enough. I thought Jade's answer is fantastic. I have a question for you. When you dialed us up today, which way were you leaning? What were you going to do? What were you thinking you were going to do? But you wanted to get our take.

[C]

I have been so. I've been noodling on this for about a month. I have been torn until about two days ago. And I was leaning towards selling it then.

[A]

Can I just tell you something?

[C]

It's probably 55. 45.

[A]

Okay. So the reason I asked that question is because you've already gotten great advice. There's nothing I could add to what Jade said. I thought she said it beautifully. I agree with Jade. But I want to know what you were thinking before you called and when I asked that. And the answer, Jade, is the same thing that you say.

[B]

Yeah.

[A]

Then I say, I know Jade's right. No offense, Mackenzie. You're emotionally involved. She's not. She's got experience. We've got principles. But I guess I'm trying to help you see that you're emotional. Your gut, your head were aligned and they were right. And I just going to tell you, you just got coached to the same position you were. Even though you're going to say 55. 45. The 45 is some type of doubt. It's a fear, some type of fear, some type of influence from some other thing. The 55 is McKenzie. So that's all I'm going to say.

[C]

And I really appreciate that because I probably do get in my head about it a little, too.

[B]

We all do.

[A]

Welcome to the club.

[C]

Yeah. I think the thing that I overthink, which I probably should have included this earlier on too, is the money that I make is relatively new for me, but it is. I think it's very sustainable for the next 20 years. But I say that to say I haven't put away as much for retirement as I would have liked. Light. And even though I'm going to work for 20 more years, I see myself like, if I'm able to keep this house, it's going to give me good income to supplement 401k and other investments.

[B]

What's going to give you more income? What's Going to give you more in ability to put away is your actual income.

[A]

That's right.

[B]

You having that at your disposal, not having the stress of $300,000 of debt. Because the thing you have to remember, Mackenzie, is debt check changes the the way you make decisions. It changes the choices you make. It changes everything. When you have $300,000 of debt and $850,000 of a home loan and another $500,000, it changes all the decisions that you make. And you need clarity. And so the way you get clarity is you clear out the debt. Then you can see, okay, what do. Now I can see very clearly there's not this negative fear influence and it really does open the path up for you.

[A]

All right, let's cut to the chase. It's easy to get discouraged about crazy house prices and interest rates. But when you have the right real estate agent to help you buy and sell the right way, you'll have confidence to make smart decisions. Ramsey trusted agents aren't just experts who guide you through buying or selling. Selling. They're people you can trust to have your back from the first call to closing day. Find a Ramsey trusted agent near [e-mail] agent that's ramseysolutions.com. All right, our Ramsey show question of the day is sponsored by why refi if defaulted private student loans have taken over your life, why refi can help you breathe again with a low fixed rate plan that fits your budget. Visit yrefi.com Ramsey that's the letter y r e f y.com Ramsey not available at all states.

[B]

Okay, today's question comes from Trevor in Utah. He says I recently spent a total of $6,000 on two luxury watches which I paid for in cash. The purchase hasn't impacted our finances in any way. My wife and I are in our 30s and earn over $200,000 a year. We contribute 15% of our income to retirement. We pay extra towards our mortgage every month and carry no other debt. I haven't told my wife about the watches yet. How do I bring this up to her? I hope they're his and hers. Listen, Ken.

[A]

Okay, so I've got like major acid reflux. On behalf of this guy, I need some pepto.

[B]

Let me, let me frame it up first. Okay, first off, money wise, like dollars wise. Fine. No biggie. Right? You, you check every box on the financial responsible adult check checklist that I can see. I'm sure you're generous. I'm sure you're on some sort of a budget. Those Are the only two you didn't mention outright? I wonder. I don't know. Ken and I talked in an earlier segment about Sam and I having separate fun money. And I don't know if this is a case where you're like, hey, I just saved up my fun money for a while, or this was money that was kind of budgeted over to me, and I just stacked it up and bought these watches. Fine, if that's what you did. My biggest question is if that wasn't the case, and you just strolled through the. You know, through the checking account. You just took it out and she never noticed. That's kind of weird.

[A]

Or else he wouldn't have written in saying, how do I bring this up? This is.

[B]

Was it a secret?

[A]

Yeah, 100%. Anybody that's going. How do I bring this up? It's like, so your wife didn't know that you were going to go buy two watch watches? I mean, it's for him.

[B]

Not even one for her.

[A]

Well, I don't know what he's doing. If he's reselling them. We just don't.

[B]

We need more. Okay, let's roll.

[A]

You know what? Okay, so if I. If I flush the Pepto Bismol out of my brain and I go, okay, what would I do?

[B]

You went to Las Vegas. You got caught up in the moment and bought two watches. Not with winnings. Or maybe it was winnings.

[A]

Oh, no, it's a new. It's a non. Conversation of its winnings.

[B]

Okay, non.

[A]

So let's say If I'm spending $3,000 out of our account for two watches, and I didn't tell Stacy ahead of time.

[B]

And it's been a little while.

[A]

You know, I'm having a problem with this, because there's just no scenario under the sun by which that happens.

[B]

No, me neither.

[A]

But I guess I'm going to say, hey, listen, listen. I did something spontaneous, pretty impulsive. I feel great about it. Or I feel. Whatever. He's got to be honest. He doesn't include anything.

[B]

You're honest.

[A]

I just got to be really, really honest and say, hey, how do you feel about this? Because here's what I do know about luxury watches. He can resell those. He's not stuck with them.

[B]

Well.

[A]

Oh, no, trust me. I have a friend in Atlanta who made. Who made a nice living buying nice.

[B]

Watches, but he has two for 6,000. And it's not that. That. That nice. I'm thinking of a nice watch.

[A]

Well, but I'm just saying, like, those are nice watches. He can. He can move those.

[B]

He can move those 100%.

[A]

I'm just.

[B]

I'm thinking about the nice ones.

[A]

Yes, but it's not a car.

[B]

That's true.

[A]

It's not a car you drive off the lot. There's no depreciation in luxury watches.

[B]

Yeah. So he hasn't said that he plans to restore, sell him.

[A]

I'm just saying. No, I'm saying when he goes to her, he's got to go, hey, here's what I did. I should have told you. I'm telling you now. Here's why I did it. He's got to explain.

[B]

He needs to know why he did it. That's the advice. Your first piece is got to tell her why, figure out why did you do this and not tell her? So that. That way, when you bring the conversation up, you can speak from an honest place. That's all I got.

[A]

Ken, I. This is so foreign to me. It's like someone asking me, how do you solve a trigonometry problem? The answer is, I don't know.

[B]

No idea.

[A]

I couldn't do it if my life depended on it. So there's no scenario by which I. I'm just trying to think. Okay, I'll tell you what. I did make a purchase, almost the exact set of money. Exact amount of money.

[B]

Okay, tell us more.

[A]

And I didn't tell Stacy, but it was a surprise.

[B]

Was it for her?

[A]

For the family. Oh, so this is not like two nice watches. It was a. It was a. Oh, I know what it was. What it is. I don't want to share it.

[B]

You can share it.

[A]

I don't.

[B]

It's just.

[A]

I don't, you know, very private. So I'm not. I would be like, ok.

[B]

Anyway, so point is, How'd she react?

[A]

Well, it was. It's back to the previous call where I said, hey, I'm doing something. Because I had to ask her where the checkbook was.

[B]

Understood. Wow.

[A]

Well, because I don't write checks.

[B]

Yeah. So you're like, I'm going to do this thing. It's going to. Did you tell her how much it would cost?

[A]

No, I just said, trust me. And she does. Like, she knows I'm not gonna go do something stupid with money. So I said, I'm gonna make a, you know, pretty substantial purchase, and you just gotta trust me. And I need a check for it, and I need you to stay out of the, you know, do your little recon a couple days from now, at which point it'll allow me to reveal it and it's really something fun and exciting for the family. And you agree, by the way? My family loves it.

[B]

Great.

[A]

It wasn't for me.

[B]

Yeah. And how'd she react when she saw what you spent and what you spent it on?

[A]

She absolutely loved it.

[B]

Great.

[A]

But true story. Had I gone to her ahead of time and said, I want to spend on that, she would have tried to talk me out. Yeah, because she has a few times before.

[B]

That makes sense. So. But.

[A]

But that's not. This is it.

[B]

Wait, he didn't tell us enough. He should have. Okay, Trevor, wherever you are, call in and tell us more, please.

[A]

But. But here's why I told my story on this thing that I bought. Had Stacy walked out and seen it when I showed it to her, and had she been like, what are you doing? What did you spend on this?

[B]

You would have taken it back 100%.

[A]

I would have.

[B]

So, Trevor, you have to be prepared to take back these watches if it doesn't sit right with his wife.

[A]

I. I almost didn't land the plane.

[B]

But you landed it.

[A]

Right, but does that make sense?

[B]

I was doing this with the air.

[A]

I know, but my point is, is as long as you're willing to backtrack it and you can backtrack it, then all is well.

[B]

All is well. Agree.

[A]

By the way, you and the Warshaw family will very much enjoy this. Trust me, they're gonna love it when they come over.

[B]

All right, cool.

[A]

They're just gonna absolutely love it.

[B]

Okay, great. I was like, are you, Are you going to.

[A]

I'll tell you on the commercial.

[B]

Great. Thank you.

[A]

Let's go to Danny in Minneapolis. Let's see. Do we have time for Danny? Yes, we can do this.

[B]

Yeah, we can do that.

[A]

Danny, how can we help?

[C]

Hi, Jade. Hi, Ken. How are we doing today?

[A]

Well, we're having a blast. What's going on with you?

[C]

Awesome. I. I'm 21 years old. I turned 22 next month and I live at my parents house. I rent from them for $500 a month. I'm thinking, I've been thinking. I've been trying to move out for probably like a year and a half or so.

[B]

What stopped you?

[C]

Well, the I. In order to get into what you guys would recommend of 25% of your take home pay, that's a little bit hard now. I think my income can support rent, but it's still pretty.

[B]

What do you make?

[C]

Steep. Pretty steep where I live. So 20, 25, it was 50,000 after taxes. So I have a bunch of different income Sources. Because I'm self employed.

[B]

Okay. Is that steady for you? 50,000.

[C]

Sorry, what was that?

[B]

Is that steady for you? 50,000 a year.

[C]

So I'm. I'm only expecting it to go up. There's no reason it shouldn't. But it's not steady month to month. So it's very like. Like in the winter it slows down because I have a detailing company. So in. In the spring it's super busy. And then I have. I have other sources.

[A]

So here's what you got to do. You know those winter months when it slows down and you have a good idea how much time you will have, start finding some sub. Supplementary. Supplementary work so that we don't have a dip in income. Or if it is, it's. It's negligible. And you can budget for that.

[B]

Yeah. Whenever you have irregular income, having a fund set aside of what you know that gap is going to be and keeping that replenished all the time is. Is so good to have. Yeah, I like that you're trying to keep it at the 25 rule. Just make sure that when you make the jump, you're ready. You're going to have first and last month's rent and all of that other stuff and budget to make sure that you can truly afford it before you make the leap. Hey, guys, what's up? It's Jade and I'm pumped for the new year and I hope you are too. But the problem is most people start the new year with a lot of promises and no real plan. You know how it is. I'm going to save money or I'm going to get my financial act together. But without a plan, you just wing it and hope it works out. Listen, don't play yourself. I want you to win. And our EveryDollar app is the game changer you need. In 15 minutes, EveryDollar helps you build a plan based on where you're at with money right now. And every day, the app coaches you with ways to find extra money so you can beat debt and build wealth faster. Master, it's like having me in your pocket helping you stay on track all year long. So don't just wish your money works out. You can be the one to actually make it happen this year. Download the Every Dollar budget app and get started right now for free.

[A]

Everybody. Yes, you. Yes and you. Everybody needs insurance, but it can be hard trying to find pros who aren't just looking to make a buck and sell you some product you don't need. Ramsey trusted insurance pros are vetted and coached to make sure that they're not only market experts, but they also have your best interest at heart. Ramsey Solutions Ramsaysolutions.com coverage is where you go to find the type of insurance you actually need. Ramseysolutions.com coverage Ryan is up in Ottawa, Ontario. Ryan, how can we help?

[C]

Hey, how are you?

[A]

Good. How are you today?

[C]

Good, thank you. Just kind of had a question and trying to get different, you know, just if I can get some navigation through it. Doing a cohabitation agreement with a partner her there just you know, between the finances.

[B]

Ah, interesting. So just to make sure I understand your girlfriend, you're thinking of having her move into where you live?

[C]

Well, she has been already. Right.

[B]

Okay.

[C]

But also it's like, you know, it's something that I personally feel should be put in place.

[B]

Okay. In writing.

[C]

Yes.

[A]

What is that? What does that entail? I've, I've not, interestingly enough.

[B]

Well, that's what I'm trying to understand. So is it just a contract that shows pay X amount of rent?

[C]

No, not even that. But just in case, you know, we break up or something. A just to make sure that I'm protected from my assets and everything like that. Especially if she'll be living with me.

[A]

Why would your assets be in trouble or under threat if she's living with you?

[B]

Is it different in Canada?

[C]

Yes, a little bit different in Canada, yeah.

[A]

Well, enlighten us.

[C]

Well, you know, if somebody does live with you for an extended period of time, they might be able to take some of your assets. Right.

[B]

Okay.

[A]

Well what kind of of assets?

[C]

Like you're like your house, you know, or divide up something like that.

[B]

How long? Like after 10 years. Is it like a common law?

[C]

Not even that. Yeah, it basically becomes common law.

[B]

Yeah.

[A]

But how long after?

[C]

Like three, four years, I do believe.

[B]

Oh, okay.

[C]

This is, there's a possibility of it, right?

[B]

Yeah, sure.

[C]

Even still, I, I, I don't know. People are have different opinions on it. Right. Just. But want to make sure that how long do you. It's not, I wouldn't do it.

[A]

I'm just going to tell you my opinion. I would not live with somebody for three years or whatever. Like whatever the Canadian law is. Like if I wasn't interested in marrying them, I sure as heck would not live with them in that period of time. And then it's just like you're on the high wire without a safety net. So relationally I need to make my decision. Prior to of that.

[B]

How long have you been together?

[C]

About the time. About that time.

[A]

And she's been living with you that entire time?

[C]

Yes.

[B]

Oh, so you're feeling it creep up. You're like, wait a minute, let me get my stuff in writing just in case.

[A]

Well, I got.

[C]

Yeah. Do you want to concern.

[A]

Well, wait a second.

[C]

But even. Even still. Right.

[A]

No, hold on. Wrong.

[B]

I don't know.

[A]

This is all so foreign to me. Forgive my American brain, but also, I'm a bit old for fashioned. So do you want to marry this girl? Yes or no?

[C]

Yes. Yes.

[A]

Then put a ring on it.

[B]

Now, what's stopping you?

[A]

What are we waiting on?

[B]

Yeah, tell us.

[A]

Because let me. Can I say this really quick? You sound like a guy who's not sure he wants to marry. Because the phone call was, hey, guys, should I get a cohabitation agreement with this woman who's been living with me? Because Canadian law says if she listens to. Lives with me as long as she has right now, if we break up, she gets some of my assets, and I want to protect my assets. Nowhere in there did I hear a guy who wants to. To. To spend the rest of his life with this woman.

[B]

Well.

[A]

Oh, no, hold on. This. We're getting somewhere. What does that mean?

[C]

Oh, just. Just listening to the opinion. Right.

[A]

Do you not see my. Do you not see how it comes across?

[C]

Yes. Yes, sir.

[B]

I have a. Something I want to add, though. What do you do for a living?

[C]

In construction.

[B]

Interesting. So I'm trying to find out if you're just a guy who's interested in details and not really emotion. Like, I'm like, if this guy's an accountant, I get it. Because he's just calculating, just thinking all. You know what I'm saying? The way his brain works.

[C]

I don't think it's a reflection of what I do.

[A]

Yeah. I think nine out of ten women. I wish I could pull a bunch of women on this very call.

[B]

There's women out in the. In the. In the audience.

[A]

Okay. Ladies in the lobby. Does this guy. If you were his girlfriend and you heard that setup, would that make you feel like running to the altar? No.

[B]

They all shook their head.

[A]

All of them said no.

[C]

Yeah.

[A]

So here's my point.

[B]

I'm gonna shake my head, too.

[A]

So here's my point. I'm actually trying to save you.

[C]

Oh.

[A]

I don't think you want to marry this girl.

[C]

Okay.

[B]

And if you do, just go ahead and marry her. We might be totally wrong.

[A]

I could be wrong. I'm just saying your question was about a cohabitation. Agreement?

[C]

Yeah.

[A]

Not. Should we have separate finances when we marry? You didn't ask us about that.

[B]

Has she asked about marriage?

[C]

Oh, yes, we talked about it.

[B]

What'd she say?

[C]

Oh, 100% right. It is plan.

[B]

When do you guys have kind of a horizon?

[C]

Not yet.

[B]

Okay. But she definitely wants to marry you and you definitely want to marry her.

[A]

Yes.

[B]

What. What do you think? Stopping you. Is it like a money thing? Is it we want to pay off debt or we want to do this?

[C]

Honestly, I. There's some days that I can't give that answer. Maybe I should have thought about that a little bit more before calling in.

[B]

I may be. I mean, it's something. It's food for thought. We're not. Hey, we're not judging you about it. It's just. It really is. It's something. I think we uncovered something that does require a little bit more thought. We. You thought you were calling for one thing and you got another. Yes. Let me say this. In the meantime, you should do some sort of agreement if. If that's what you feel like is going to cover you.

[A]

Yeah. We should circle back. That is the goofiest law I've ever heard. Don't mind saying it, but it is the law of the land. So, yeah, I would get something to protect your. Your assets pretty quickly. All. Although, given the. What I've heard today, I don't know that that's not going to create a bunch of tension.

[C]

It might. It has.

[B]

Oh, Ryan. It keeps getting.

[A]

I felt like maybe I was the crazy one and. You're not crazy, Ryan. But I'm sitting there going, now you've got to bring up a cohabitation agreement with her to protect your assets. After having talked marriage, are you at least engaged?

[C]

It's always been a thing that I've wanted, though. Just like. Not to say, but I just, you know, I've worked hard for, you know, what I have, I believe. Right. So. And.

[B]

But have you at least proposed? It's one thing to get married, but have you even proposed? Oh, Ryan.

[A]

That's the only thing he's been certain about on this entire call was that. And you hear that answer now.

[B]

What? No. Now what's. I could understand, like, I'm not ready to actually do the ceremony. But what's kept you from proposing?

[A]

He doesn't know.

[C]

Just the timing of everything. I feel. I know. You know, you can't put anything like, it's say, hey, you know, it's never the perfect time, so it could always be the perfect time.

[A]

Yeah.

[B]

How about tonight. 7:00 clock on the dot. And you do?

[A]

Do you hear that answer?

[B]

He's laughing.

[A]

Somebody get him a brown bag on the other end of that call.

[B]

I know, I know.

[A]

You're very nervous. He's hyperventilating.

[B]

You want to know what I would do if I were in your shoes? Ryan? I'm going to tell you if I were.

[A]

Oh, I can't wait to hear this.

[B]

If I turned into you today, I would call up my counselor. Vanessa. Vanessa. And I would say, help me out. I just talked to these folks and they really are making me think, why am I not proposing? Why am I not getting married? What's going on? I thought it was a money thing. I think maybe. I just don't know. Help me unpack this.

[A]

That's what I do, Ryan.

[C]

Sure.

[A]

It's the best thing. You've heard this entire call. I'm having a lot of fun. But listen, I am concerned. If I could play older brother, if you were my younger brother, I'd go, hey, man, I don't want you cutting, committing yet, like on anything, cohabitation agreement or anything, because there's something that's catching you and it doesn't mean it's bad, doesn't mean there's something wrong with you. But I think the advice Jay just gave you, I'm going to endorse that 100. Let's get with a therapist and just straight up lay it out in a safe environment and see if they. And you can figure out what is holding you up.

[C]

Okay?

[A]

Nothing wrong with you. Yeah, yeah. Listen, no shame, no shade coming. Coming at you. But, my man, I know you didn't call for this, but I don't want you to be in any kind of agreement, marriage or cohabitation and be regretting it. Okay. And worried about my money and all these things.

[B]

We're rooting for you. Call us back and tell us what happens.

[A]

Yeah, I'd love to hear the other side of the story. Wow, man.

[B]

Hey, It'd be like that sometimes, Ken.

[A]

And it's okay. I would rather have someone press pause on a relationship.

[B]

Absolutely. Absolutely.

[C]

Foreign.

[A]

Hey, guys. George Camel here. Do you ever feel like insurance companies only care about your money and not what you actually need? Well, there's a better way. When you go to Ramsey's Insurance Resource Hub, you'll start feeling confident that you're getting the right coverage that's truly best for you. You'll find helpful info on everything from life insurance, health insurance, identity theft, protection and more. And when you're ready to get the coverage you need, you can connect with a Ramsey trusted insurance pro who will only get you what you need at the best price. Go to ramseysolutions.com ramseysolutions.com insurance. Our scripture of the day, Hebrews 12:11. No discipline seems pleasant at the time, but painful later on. However, it produces a harvest of righteousness and peace for those who have been trained by it. Our quote of the day, Bonnie Pruden. You can't turn back the clock, but you can wind it up again. Renee is up in Columbia, South Carolina. Renee, how can we help?

[C]

Hey, there. How are you guys taking my call?

[A]

You bet. What's going on with you?

[C]

So I'm 57, and I was just let go from my sales job right before Christmas. I'd only been there five months. Oh, I know. I've never been fired before.

[A]

Oh, man. Well, welcome to the club. I've done it twice, and, you know, it's no fun, but there is life on the other side.

[C]

Well, that's where I am. I'm trying to decide what to do. You know, I don't. Not sure I want to remain in sales. And I'm looking. Do I look for a job full time? Do I look part? Do you look for a job and work part time, or do I invest in my side hustle and grow that because then no one can ever fire me again?

[A]

Well, actually, customers can fire you. It's amazing how many calls we take. So I do want to set the record straight on that because it's a healthy mindset, because here's the answer. Renee, I want you running to something, not away from something. So a couple quick questions I want Jay to weigh into. So rapid fire for a moment here. What is the side hustle?

[C]

So we own a photo booth company. We've only been in this area for a year, and we haven't started it, but it was a side hustle we did in our previous state that we lived in.

[A]

Okay, and based on that track record, what do you think revenue could be that you could generate once you get it up and going?

[C]

I mean, it just depends. It would probably start small, I think. I mean, we did very little with it, and we made about 20,000. I mean, we did. We didn't even try. And it would be very little at first, but as we got up, we could invest in more equipment, have more booths, and go from there and see how big we can get it.

[A]

All right, to our best here. Let's try to do apples to apples. I know it Was a different state, different place. How many hours? I mean, would you be able to put in more hours of your time than you did previously that generated the 20,000?

[C]

Oh, yeah, it was. I mean, I didn't put hardly anything into it. I'd be able to work it full time.

[A]

Okay. All right, next question. You said we. Are you in a double income family?

[C]

Yeah, that. That's one of the things. We are a financially stable. We. You know, we did the baby steps a long time ago. No debt, except for the house. But I grew up with financial insecurity and I can't get that scared person out of my head. I feel like I have to make money right now.

[A]

Well, but let's. Okay, then let's just sit there for a second. So are we talking about your husband here? Who's that? The other income. Okay. What does he make?

[C]

Somewhere between, depending on bonus, 230 to 275 a year.

[A]

And you have no debt, just a house. Oh, good heavens, Renee, you really. You really did grow up in a tough situation. I don't even. Your husband makes $230,000 and you're worried about a sales job and you have no debt, I'm guessing. What's your retirement situation?

[C]

We've got about 911, 401k, another hundred in investments and 50 something in a money market.

[A]

Set yourself free and go try the photo booth thing. Have some fun with that, for crying out loud.

[C]

Business. It is a very fun business.

[A]

Then go have fun. At 57 years young, you don't need income. You don't need your income. True or false?

[C]

No, it was gravy. So we may have to go out to dinner less or maybe not take a big vacation or, you know, because we.

[A]

I'm sitting next to the budget Queen on $230,000 in no debt. Jade, are we worried about vacations?

[B]

Not really.

[A]

Of course we're not.

[B]

I think you'll be fine.

[C]

How do I get that girl out of my head, though? How do I.

[B]

You need to tell her the truth a lot. Don't ignore her. Just remind her all the time.

[A]

That's a good question.

[B]

Remind her all of the time.

[C]

Yeah, because I truthfully, that's where my heart lies. And I feel like there's a lot of things pointing into building up this business, but I just for something about that guaranteed salary that just. Which I wasn't. A ton. But you know, it's just making that decision. But I.

[A]

How much in those five months did that job suck the soul, right? Out of your body.

[C]

Oh, quite a bit.

[A]

I had a feeling. I had a feeling, Renee.

[B]

So.

[A]

So I think. I think Jay just said something so incredibly wise. So I'm actually. Can I piggyback off what you said? I feel like I'm getting an assist here. Okay, you're assisting me. You have to tell yourself the truth often. And I feel like in this call a minute ago, when I walked you through some questions, and then we got to the truth of $230,000 and no debt. And when I and Jade kind of tag team reminded you of your financial situation, you didn't have any anxiety about money in those moments, did you?

[C]

No.

[A]

So it might be as simple as some fun, like journal or legal pad or something on your phone, a note on your phone. And when you start to feel that old voice of insecurity around money.

[C]

You.

[A]

Just go back and you look at your numbers, pull up your investment dashboard. Well, we got 900 and some thousand here. We got a hundred thousand here in seven years, and that's gonna be 1.8. And just do a refresh. Can I tell you that's what I heard from you? I love that advice.

[B]

Can I tell you a true story, Renee?

[A]

Oh, I love it.

[C]

Sure.

[B]

I had gone through a period where I was dissatisfied, and for reasons that it doesn't matter, but I was complaining a lot. And I made a deal with myself. I said, for as much as I complain, I have to say just as much that I'm grateful for and thankful for. And when I did that, it made me realize how much I was complaining. Cause I had to say the same thing right back. I think if you make a deal with yourself and you say for each time mentally, that I catch myself replaying whatever the story is that you replay about not having enough or whatever that fear thought that you. You have, if you make a deal with yourself that say, every time I do this, I'm also gonna come back and say, we have 900,000 in our account. My husband makes 275,000. We paid off all of our debt. Our mortgage is almost gone. Right? And combat it. Don't let it win. You know, thoughts and emotions, they're like waves. We can't stop them from coming in. But we get to choose which one we surf, right? You've heard that it's the same thing. You get to choose. And awareness is key. You know that it's happening. So now it's about capturing it in the moment and going, all right, that came. I can't stop it from happening. But what I can remind myself is what's true and replace it and dwell on that for a while and spend just as much time, if not more, dwelling on that than the thought that initially came in and tried to.

[A]

I love that. You know, I got an idea. Jade.

[B]

What?

[A]

All right, Renee, round figures aren't going to hold you to this. This is a fun exercise. You ready? Based on how many times you and the Hubs go out to. To dinner in 12 months and a nice vacation, what is that number? All in?

[C]

Maybe 20,000.

[A]

And can you recall what you told me you made on the photo booth business that you did nothing with in a previous season of your life? Could you tell me what the number was?

[C]

About 20,000.

[A]

Bingo. If we launch, we relaunch with new energy, lessons learned, and we say to Hubs, I'm going to launch the photo booth business. And every penny above and beyond just the expenses of the business goes to vacation and dinners.

[B]

Love it. I love it. I love that.

[C]

I love that.

[A]

I'm pretty excited about that idea, I'll be honest.

[B]

That's motivating.

[A]

That came to me while you were talking. I'm like, wait a second. And I didn't know, by the way, that it was going to match up to 20 and 20, but I thought. I thought that the photo booth revenue will easily cover your dinners and your nice vacation you're so worried about.

[C]

Yeah, see, that's why I called you guys, because I knew you could help me work through this. I'm literally sitting here with my budget in front of me, and I literally asked him probably four times a week, how much do we have? What's in our accounts?

[A]

Leave that man alone.

[B]

Would you leave.

[A]

Would you leave him alone, please? And just get yourself your own dashboard and your own exercise like Jay just gave you and go launch that business.

[B]

Yeah.

[C]

Yeah, I'm going to do that. Thank you. I mean, I really appreciate. I feel so much lighter now.

[B]

Good.

[C]

Definitely.

[A]

That's what we like. We like it. We like people to call in heavy and float off the phone.

[B]

Float away.

[A]

Float away.

[B]

I love it. Good job, Ken.

[A]

Oh, I didn't listen. You. That was all you. You just threw me a really nice lob. Pass. But how funny, how funny that the numbers matched up.

[B]

I know, I know.

[A]

That made me feel really happy.

[B]

Listen, that's a nice trip.

[A]

I should probably take the rest of the day off after that. I'm never going to be that lucky again. Remember, there's ultimately only one way to financial peace, and that's to walk daily with the Prince of Peace, Christ Jesus.