The wife feels disrespected because her husband does not contribute financially to the household, creating a pattern where she pays for everything, which she sees as a lack of mutual respect and support.
Dave advises against financing the entire program and recommends cutting back to cash flow the program over three years to avoid taking on debt for a serving profession, which can lead to burnout.
Dave advises against it because 80% of small businesses fail within the first five years, with cash flow problems being the primary cause, which would be exacerbated by the debt burden.
The challenges include lack of sleep, physical exhaustion, and mental fatigue, where the mind can tear itself apart from the stress of grinding out long hours, especially when feeling tired and needing to push through.
The husband justifies it by considering his wife's vast amount of money as 'our money,' and he might think he fulfills his duties as a husband by being the fun, loving guy, without realizing the impact on his wife's feelings of respect and support.
The core issue is a lack of mutual respect and the pattern set from the beginning of their relationship where the wife paid for everything, which has continued for so long that it feels like she is being taken advantage of.
Dave suggests cutting back to cash flow the program over three years to avoid taking on debt, and potentially finding another employer who pays better and helps with education costs.
Dave proposes agreeing to pay the business owner a percentage of the profits after taking a basic salary until the owner receives the agreed-upon amount, which can be faster and safer than taking on a large loan.
The benefits include character development, emotional and psychological growth, and relational benefits, as it shows what the couple can achieve together, boosting their confidence and what they believe they can accomplish.
The wife's support, such as sending encouraging texts, helps the husband feel less alone and more motivated to push through his long work hours, even when tired.
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Dave Ramsey & John Delony answer your questions and discuss:
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‘Borrow $1.2M to buy a small business?’
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'How do I get over the shame of bankruptcy?'
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