Your Payments Are Keeping You Middle Class
01:28:57 Share

This is the ramsey show, where we help you win in your life, win with your money, win in your work and win with your relationship. So excited that you're with this triple late eight, two, five, five, two, two, five is a phone number. Triple, eight, eight, two, five, five, two, two, five. I can common join by the absolutely the fabulous jade warshaw and got a great studio audience today. I to say, just the studios packed.

They are lively.

a lively buton. Yeah, they look very excited to be alive, and that's always excited. So they are here. They always give us a little extra, dude.

So we want to say, thank you all, all of you who are here, and let's get right to its time to coach some people up. Carley is going to start often sing, Louis, missouri. Carly, how can we help today?

Yeah I reach recently put a home well within five years ago um and now and we are separated he has for training water against me and not sure where to go at display I have violated IT a few times i'm trying to get my .

belonging .

star OK um I know i've been trying to speak appetitive suit or going on around or what my rights are. And we have a dog together, important part really.

So you are in the relationship. You bought the house together or both of your names on the deed.

They are yes.

okay. And he's the one still living in the house and you are the one who no longer lives house, correct?

Yes, okay.

You're legally not allowed to go to the house or you're just not allowed to go to the house when he's there.

Um I am not allow actually that's really good question and pretty sure i'm not allowed to go to the .

house that i'm going ask the question that I I minto know what did you do to .

get yeah can we ask? I was I .

was not going to.

You do .

anything he said that you did what .

didn't do anything. He lied. He lied. He is on a definitely ation and I conducted the judge he lied and the problem but not in the turney um and I told chinese at one twenty contacted them at least ten times they don't want to get involved or as they do and there the nice police officer they tell me what to do, say, hey, you need to top the judge context of the judge but the judge can only do so .

much for my email them.

嗯嗯 OK so I don't I my job lost everything and I really， my house is my dog, really I I don't care when you close ninety five person, the house is a very large home. I don't even care you know about that.

Just where are you living now?

So so, so you have a place to be. You're not home. Most correct? No OK. So so we heard we are so sorry for you.

You go a lot going on here, 全部。 And I can get a job now .

because they're restraining order.

because they go IT.

So this is now like.

Okay, okay, yeah, this is tough. I am sorry.

Um you can't get a job because .

you broke the restrain order.

He filed property. The .

image will personal property .

image .

in test OK. So .

home .

right?

So is your prior. So we are we got we have got to try to figure out what little, what little we can do here today. And so I want to help.

So a couple things. Did you call us the day to figure out how to get out of this house? Is that.

I wanna do something I can move on to here, buy a house. Yeah, is, is a very expensive house.

What is the house?

A billion .

dollars. you?

What do you do? I want IT OK.

So i'm just trying to take some liberty here to try to get us going forward. We can help if you could sell IT today, if you could somehow get him to agree to sell IT and you got off of this loan and you start to move on and you guys came to some settlement that would be your ideal situation on the house. I I know you want to get the dog, but I can help with the dog.

So i'm trying to focus on on what we can. And i'm so sorry, is that what's your idea? Is that why you call us today?

I won't do something, just.

can you talk to .

a layer?

I am okay.

And what are they done in you?

Just take a deep breath. No, no. Body, body. No, just, I don't have any, any money.

Do you pair to have any money?

They know, they know anymore there.

Everybody just so let's call me, let me let me bring this down. Let's talk about best and worst case scenario. Worst case scenario is you let this ride for a while, but since both of your names are on the deed, both your names are on the loan.

The negative side of this is if for some reason he decides to stop paying the payment, your name is on IT, right? And so IT affects your credit. Do yes, but you don't know that i'm talking i'm talking about the worst case in area.

Let me go. Let me talk. Let me talk.

I'm talking about the worst case scenario. You don't know what he's going to do. okay.

So the worst case is anything that you guys have your names together on the debt, whether it's a car, house, if one of you if the person who's been paying the bill stops paying the bill, IT has the effect on either of you. Since both of your names are on IT, that's the negative. So what the ideal scenario is, let's get our names off of this.

Now you're on a restraining order. You can't go onto the property, let's honor. That is their way that you can contact him and say, I want to divy up our assets and I want to split them.

Are you open to that and just find out what is he said? Is he two selling the property? Do .

you know .

that?

Okay, have you not the attack? Y have you talk to him, do you know, or will he .

not talk to?

Okay.

I want to jump tomorrow.

Okay, here's.

here's what I have. yeah.

When you get a chance to whatever the arrangement is because there's legalities here, find out what his sentiment is IT peace out to jack you then yeah, you're gonna have to get a lawyer. And here's a thing, if your lawyers aren't doing anything, fire them and get somebody who will IT sounds like you're not working with good attorneys. And so you can change that you're overwhelmed and you should be. But i'm here to kind of grab you, buy your call or and kind of shake you a little bit.

Because I um hardly understand about the legality of of the restrain order. But this idea, this notion that you can't work and make money right now, you're going to have to absolutely ject that. That's not true if I were you.

If nothing else, you can baby set, you can walk dogs, you can do so many things. And you have the one benefit you got go for you right now is a place to be safe with mom and dad ah with very little expenses. So we art you've got to make money doing seven jobs, quite frequent your life as an absolute disaster.

And the best thing for right now is to put all of your effort into working yet can't be in pain if you're working in busy number one. Number two, we need the income j because she's got to fire her lawyers and get a legitimately decent lawyer who gets you in front of the judge. And we began unravel this thing.

You need money so you can get a good lawyer and getting from the judge. That's IT. Those are the three things in your life right now.

That's all you have time for. Do that and you get out this mess. This is the rainy show.

I've been doing this show for over thirty years and some of the sad calls I have taken are from situations that are completely preventable yeah .

and what so hard as I feel like one of those, especially the ones that i'm like a it's terrible air people that call in and their spouse has passed away suddenly and they don't have life insurance. When you have to think through how I gna pay my bills in the .

middle of yeah in the middle.

all that grief like it's just IT is it's terrible to life insurance is the one thing, especially as a mom with three little kids that I like so big on for people to get, because it's an expensive ander is the place that once, and I actually get all of our life insurance.

And IT does much because ander shops among a gazillion different companies. IT doesn't cost much. You just have to admit that someday you're not gonna be here.

You got to say out loud and you got to say, i'm going to say I love you to my family by taking care of them and taking the time to put the stuff in place. The costa stinking pizza to get a free quote, call eight hundred three, five six, forty two, eighty two. That's eight hundred three, five, six, four to eight two. Or go to a sander dot com.

Alongside jaye warshaw, I can comment and you have joined the conversation about you here on the Randy shop triple, eight, eight, two, five, five, two, two, five. It's hard to believe I like, I like my dad, right?

Okay.

let's but like where did the year ago like i'm that guy who says that one hundred percent fact that is october yeah and the holidays are right around the corner. I thinking was in the mall last weekend and rain into a Christmas yeah.

that's to home.

Another rent. I like to know the rent is, but but I bring this up. You probably wondering where you go with this kid, have your mEdwin off or you got a point.

Point is the holiday season is here and that means everybody's budget are gonna a be a little tight. We're got all this pressure we provided in plane ford. Some of us are in the baby steps out there that listed.

And watch right now they are going, what do we get in everybody for Christmas? And so it's time for a really great irrelevant webinar. How about our every dollar free life training coming up thursday, october twenty four, one eastern, twelve central and register for free range.

The solutions that consist web on or click the link in the description of the podcast or if you're on youtube, i've got a link here for you got over hundred thousand people registered. That's banana. A lot of people, what he .

says with .

me this right, a hundred over hundred thousand people for this free life trade all in the past.

Oh, okay, I was about to say these people.

what S S what happens when you don't read the entire sentence and you have a hd folks, but it's over hundred thousand people in the past. So this is a popular training. Again, come up up this thursday.

This is a lunch and learn. And I don't know if you're are doing things Better with your lunch time. So there you go.

Relations that complex where and are this third a october forth one eastern n twelve central time. I, M, S, ohio is where we go now. And C, J, is there? C, J, how can we help today?

Thank you guys. First with my call, first of all uh but my question is, so I bought a me a couple months back, uh, A R T dango. And I love the vehicle obviously, but I feel that IT stop me from investment on to twenty one years old.

And I watch you got this pocket with A T. V. often. And I wanna, my biggest goal was, obviously I wanted started, uh, ross, I R A. But I feel that the payment on my vehicle is kind of of like a get in a way at that.

That's what's that payment. Tell us.

six, five. Yeah, OK.

I need to get my well, let's make IT worse for king.

He's going to have to go extra strength because what's what's your income every month?

So the union worker, it's it's a different every month. So what's .

a good one?

A good month is probably around seventy five hundred or eight grand o that's on the top end, but on the lower end for grand. So I mean, minimum, i'm probably bringing .

in home a thousand months OK.

Yx, it's definitely in the way, in the way.

It's one hundred percent in the way. And i'm glad that you're realizing that because we say at all the time here, uh, the car payment is what keeps middle class middle ass is what keeps you broke and it's what keeps you from getting ahead. Because at six twenty five, let me tell you something that's suspiciously close to what you're supposed to be investing every single month.

So let's let's find out if you're at the point of in investing. okay. So you've been listening for a little while.

We teach a series of baby steps and investing as baby step for, okay. And before you can invest, we talk about clearing out your debt, saving up three to six months of expenses. So my question is, uh, have you played or fall of your debt?

No, I have to learn on on the vehicle. Is that my only day is on any other day yeah is paid off. I saw before I i've watch you guys today so I get at high school and uh which obviously not years uh so I had A A A decent emergency .

fund and then .

I like IT IT was like eight thousand dollars.

which I was living at home at the time. So said.

yeah.

what's IT now? nothing. A .

thousand dollars. Well, is there nothing?

Or is that a thousand dollars? Because that's a big difference.

I don't I don't have anything in IT right now. All my money is in my savings. They are not my savings.

I'm sorry about shaking. Got you OK. So let's clarify this. Let's make a simple so baby stopped. When you need a thousand dollars of savings, don't keep IT in your checking account.

Any time you have savings, you want to keep IT separate from where your month to month money goes because you don't want to, in quotes, accidentally spend IT, right? And so you're going na take that thousand dollars, you're going to drop IT in, I don't know, just basic savings account or high yellow savings account. Either one is fine, but you're onna get IT out your checking account.

That thing one, that money is there for an emergency. An emergency is something that is completely unexpected, completely necessary. Like, I gotta do this and there is gotta be like a time constraints.

Like I got ta do this fast, right? If it's something that you got to do in three months and it's not really that much of an emergency, right? So it's gotto filter.

It's got to check those three boxes in order free to pull from that fund. Now we focus on the car. What all what do you do on the car?

Thirty six thousand?

Thirty six thousand? And if you were to sell IT, what could you get?

Uh, IT deadly holds negative equity right now, uh, because I just got IT. You know, three, four months you probably get twenty seven and twenty eight .

out of IT dropped that much negative way, okay, in that private sale? Or you don't look at trade in value?

That's trade in value. I think private sale I might be able to pushed twenty nine and thirty, but I think it's gonna.

Well look at out got IT four thirty OK oh wow. Okay, look at up on Kelly blue book and see um exactly what you could get if you sold IT on your own private. Okay, then either way, you know to your point, since you said I want to get out of this car, if I were you let's pretend you actually eight thousand dollars upside down.

I'd probably go to my credit union and get alone for IT and a little bit more. So you can buy something in cash, maybe you spend five or six and cash. But at the end of the day, i'd rather have alone for sixteen thousand dollars than alone for thirty six .

thousand dollars. agreed. Yeah, that was my question. How you guys to know about IT because I just like it's like a way is you done a little bit.

I so I have extra common in every month still on top of corp. I, T, if I want. I felt like to be so much Better off if I just didn't pay on the car.

You're smart guy. You're right, by the way, you do exactly what exactly what he said that the answer your question because you're going to probably cut your payment in half and all of the sun, we have a much more manageable debt that we ve got to get rid of at sixteen thousand. And so that's gonna motivate you.

It's going to give you a little bit of breathing room because that payments gonna come down. Obviously, that's the textbook answer. So that's what you've got to do.

There's no ugger room on this because every every week, months that you delay this, this car keeps putting you in a bigger negative hole. So like this decision needs to be made today, like we turn on low this car in the next week. So like lindsy.

So the question is, if you did this, if you got off funded what we just told you to do, how quickly could you save up six months of expenses?

Um very quickly. I have a significant other the host name with utilities and rent and SHE uh all heard she's deferred all that I mean why I was so just dating so going OK but uh, I do have somebody helped me with have if is at home as well which so yeah other question .

I have is what kind of work are you doing?

Uh.

construction do you have I don't know the rules where you are. Can you do side stuff? Or is the union a prohibit that?

Uh certain one to do my doesn't because i'm just a labor. I get up, but I have looked in to get in my own .

side after yeah I I get I .

get everything figured that out. No.

no, you don't just get IT after IT, you don't have to figure out anything. You have a skill experience. You know your market, you got pretty decent on those good months.

That's a really nice paycheck. But right now, you need to get out there and and and get that car paid off quickly and get the six months and mercy found me. This is just a function of you working really hard.

And can I tell you the opportunity cost? Here's why you're smart because you figured out early this six twenty five car payment is doing me and I need to get rid. If tomorrow you do what we said and you start investing that six hundred and twenty five dollars.

by the time .

you're sixty five, you're going to have five point nine million dollars, which is suspiciously close to six million dollars. If you don't do anything else with your life, except invest six hundred and twenty five dollars a month might drop.

You don't want to figure anything out. J just told you what to do.

He figured that out.

That's how smart he is, I know. But this is all about effort. Effort turns into six million dollars.

Wow, our quick break. We will be right back. This is the revenge show.

Hey, you guys, i'm not a fan of the big banks. You probably already know which ones. I mean, but I do like credit unions because they are non profit organizations that focus on their members.

And i'm proud to endorse fair winds credit union because they share the ramsey mission of helping people get out of that and live generously. In fact, they design products to help keep you from going in the death in the first place. Fair winds has been in business for over seventy five years, and they serve hundreds of thousands of members worldwide.

You can feel secure because your deposits are federally insured by the inc. U. A. Up to two hundred and fifty thousand dollars. It's easy to join.

And fair winds partners with more than five thousand credit union locations around the country so you can bank in person wherever you live. But if you prefer the online experience, you can log on to fair wins and do anything you could do with a physical location. So go to fair winds dot org e slice ramsey to learn more.

And while you're there, look at the combined checking and savings account bundle they created just for ramsey fans to help you take control of your finances. That's fair wins. F A I R W I N D S that sash, rami.

Hey, folks, welcome back to the Randy show. I can common and jay war shaw is in studio with me. Triple late eight, two, two, five, five, two to five is phone over first to coach you up.

We need on the budgeting and what to do with the debt call. I want to lead on how to make more money, how to move up in your professional lives so we can make more money, more freedom. That's the theme there.

So we love to hear from you. And how about a question from the ranging network? Adj.

yeah.

for one of those sounds good from A N SHE. right? I'm engaged in my R.

V. four. You're ready for this hard swallow two hundred and forty thousand dollars. But he's not sure how he's going to pay for .

Operating at what .

i'm concerned that he may take a one out so he'll not only have a monthly payment, but also all the expenses and up keep to go along with only an R V. My question is, how do I proceed? Because we plan to get married next year and we disagree on money issues. ikes. H, wow.

yeah, that's a big red flag.

We bought an R, V.

I don't think I realized that. R, V, S, where this expensive.

Oh, man, yeah.

that's a house. Oh yeah, on wheel, basically.

Okay ah, but doesn't go up in value.

right? Drop in rock, dropping like a rock OK, you should be concerned. The fact that she's concerned that is going loan out makes sense.

He took a loan out for the R. V. So yeah, oh, I take a loan out for the upkeep.

The biggest issue is they don't agree, agree on the money issues. Kin, I don't know about you. I believe that money is one of those big overarching themes.

You've gotta be aligned on its money, politics, religion and how you see raising your kids and family, that kind of thing. I, and so I, this is a big one. The best way I think to call this out is just to sit down and silent.

Here's what we've said. Our plans are together. We obviously plan to get married. I've started noticing that you and I have different views on how we view money and how we view debt.

Um can you tell me a little bit more of how you see that playing out in the future? And maybe you just kind of set up up with some questions, uh, in the future, when we want a car, what do you think we would do, what we get, what we try to save up and pay cash? Or do you think we would take out a loan and just kind of ask him learn more about what he would say and then you once you've heard his response, then you come back and okay, well, here's my viewpoint.

I think that if we are gonna cars, i'd like to pay cash. And here's why. And here and then lay out your side and say, I just want to have a clear conversation and see, is there a way that we can get on the same page with this because this feels cause problems down the line. And I don't want that force and you just have .

to have a hard conversation yeah I I agree that you said I I probably right IT up the the the technique tell me, yeah I want to go with the he needs a text.

What do you mean?

I'm to tell you.

you gna text them.

The questions going to text him and say, we need to talk.

Can now you know that that strikes fear if you didn't have bubbles in your tummy, when you receive that text.

you will have bubble, bubble. This book is a bubbles level conversion. So you want to .

create uncomfortably. Going in needs .

to know how serious that is. okay? This is not a manipulative powerplay. IT is a, we need to talk. It's time to define the relationship. Because he says in this question, I am really concerned that we don't see I D eye and I think I agree with everything you said. I just would put .

some seriousness on IT not a threat.

Serious sauce, yes, not manipulation. I'm just saying that needs to be I don't know that we should be talking about getting married or no, I don't know. We shouldn't talked about .

getting married .

if we got a press pause on this because this will break us down the road. And this is nothing to do with my feelings for you. I think it's that serious. okay. So i'm approaching, this is if you were my daughter OK.

But here's, here's, let me push on this little bit.

There we go. This is why people show.

Let me push on this little bit. I would be afraid, because love gog's make you can make you change parts of yourself.

can you? And this is embarrassing. But give me a real quick fifteen second on what love gog's means. I think I am .

not sure I love gog's. Are you see them and everything's perfect because you've got like these look, you don't notice their back here. You don't noce you know, the little things that after .

you get marry, you've no o so you think she's doesn't no .

SHE doesn't. But my point is, if he has love gog's on, if he makes me feel like an ultimately, then he might change some of his answers in order to get what he want. And i'm not saying like maliciously you like in A I M just .

saying that sometimes pressure yes.

because the truth is you are your best self. When you're in your dating phase, you are your best like you, you're on your best behavior and so he could be like, oh yeah yeah, honey, you know, you don't have to do so.

You think my approach help me, how's my approach not how does he then?

Because I think if he makes IT, I think if he just makes IT a conversation and we're talking, she's more likely to get the real answer. But if SHE puts the stress of we need to talk, we need to define this relationship, then he could feel the need to be like, well, okay, okay, yeah, yeah, no dad, no dad is fine. It's fine. But that may not be really where as hard is that?

I know. Okay, so okay, so let's say I go with your approach and not there yet OK. Let's say he has that conversation and then there's no real, there's no real out.

Col.

then I think he can rattle IT IT up. I think I would start a little you to push .

you like level two and you are come and like medium high.

that's fair. And I an at, listen, I can now say, I understand that you you know, I was truly coming at IT from if it's your daughter, if it's my daughter and she's having this conversation he says, dad, what would you do? I won't. Dad, I pushed the dead button, everybody. Okay, thank you for pulling me off a little.

If that was my daughter, i'd be like, let me go talk .

to okay, hello, you just took me and said, hold my beer and i'm to going to kick the door now alright, I very good. Um but you get my point. I I I think you said IT well and and I I want to park IT here.

Okay, can we park IT? Yeah, that's a good because here's why you nailed IT on the things that cause marriage is to to splinter and unfortunately break you. You gave a whole list, kids, faith, politics, money. Yeah.

excuse me.

And to that point, we've a lot into people that are joining this program, all the yes, parking IT here because I think it's important that we share with people why this actually happened. There are deep seated habits that come from beliefs. The environment on all of those issues have a big this is weren't only talk in money, but when when, when you have two, when you have two completely different value sets, and imagine love goggles, let to talk about money goggles. Okay, if the two sets of goggles in the way you see .

money are .

so different, IT literally can cause chaos in your relationship, true or false? Is that too strong of estate?

No, I think that's exactly .

how does .

IT cause chaos? Well, you know, think about IT. One is let's filter IT through the question. He is a person obviously a little bit more frugal. SHE sounds like she's debt averse.

SHE sounds like he understands the value of keeping your income every month and that might be because IT. All of that belief is because of how she's experienced the world up until this point. And then he's the opposite.

I'm not saying he's a bad guy. I'm just saying that his beliefs are based on how he's experiences the world up until this point. And when you want somebody to change what they believe based on how they've experienced the world, that is a hard for .

is hard thought fight.

Yes.

it's their default mode.

It's their default de. So you it's not just as simple as will change. I gotto go back in and I gotta figure out, how do I feel about this and what does that mean about me? Because i've always Operated like this because of this.

So it's not just a surface level request for H. I don't want to use that any more OK, no problem like it's never that these are. And that's why I say when IT comes to these money issues, we do say can sometimes that might sound a little bit flip IT get on the same page with your money.

And the point is it's not a White switch that you just flip up or flip down one day. It's a journey. I agree.

And I would say on all those issues, I think all those issues should come up in premiere counselling. And can I just put that out there? But I certainly believe money on to just press pause, don't get married and take you get on the same page of this stuff.

I think you're save yourself a tonic, stress and everything else. My goodness, it's that important. So just a little relationships that we talk about this relationships and money folks, you just cannot untie those.

They are tied together whether you'd like IT or not. So really good stuff. All right, quick break.

Don't move more calls. They all lined up. folks. We're going to get to this is.

You've been working the ramsey plan and you made real progress. But if something happened to you tomorrow, would your loved ones be able to access all the account info you've got stored on your computer, phone or even scraps of paper?

Knocked box can help that knocked box in OK, as in next of can box, is a complete system that organizes es, your important documents, accounts, ID, tax returns, insurance policies, estate plans and other personal history in one secure place to help protect what you have worked for. So ditch the thumb drives and file cabinets and organize your digital and paper files with knocked box. You'll leave memories, not a mess.

Get your family's knocked box today at knocked box. dot. Come MC. That's N O K box dotcoms like rami.

Back to the ramsey show, I can code war. Shaw is in studio with me. Triple ate eight, two, five, five, two, two, five ruled the heavy weather.

We need to coach you up. Let's go to Brandon in mini apple, minnesota. Brandon, how can we help today?

So I just enrolled in an H I say this year and then wondering if that makes sense. I had a couple of A A couple hospital visits pop up this year, and i'm anticipating the same thing next year. So even with the compounding interest from spending thousands of dollars each year, does that make sense to still hold bounding each?

I say um well, IT depends. I mean, when you do know that you're gonna qualified medical expenses, IT could make sense to pay for them through the h sa. Um and in that way you're not you're not taxed on that money.

Um so that could make sense for you. So you're thinking about IT more um through the lens of your actual health purchases. You're not thinking about IT as an investment vehicle, which a lot of our collars do correct.

Well, now I am looking at IT as an investment vehicle. I'd like to have IT, you know.

in retirement. Oh, okay. Well, in that case, on H H, A, A is a great idea if you know that you don't go to the doctor much, if you are willing to have that higher deductable because maybe you know that you're not going to meet IT that that could be great for you.

And then of course, if you're thinking about IT as a retirement vehicle, that's great. But I would not be my first choice ah IT would be what I would do, maybe tertiary to a four one k or a rough year. And then I go in and do an h sa. Have you already maxed out those other options?

I have not.

okay. So yeah for complaining .

for everything at a pocket so far.

okay. So if we're looking at through the the lens of strictly investing, yeah i'm starting with a four one k if I have IT through my work, you know start with that. If there's no match, you start with a roth ira first.

Now for the use of, hey, I want to filter some of my uh, actual health expenses through this then yet you could fund IT up to the point, yeah, I know that i'm going to spend, I don't know, three thousand dollars on health care this year. So i'm going to put that in there and then i'm going to use that hsd then pay for those expenses. You could one hundred percent do that, but I would not over fund IT to the point of investing. Does that make sense?

yeah. OK is is set up weird where I have to have two thousand dollars in the regulatory H C. And then everything above, beyond.

yes. And if you if you know, hey, at this point, the two thousand dollars that are in there, i'm actually gonna use that on healthy care care costs this year. And this is a great fund for IT. I'm all for that. But as far as you over funding IT, to the point that you can then invest the rest, I would not do that until i've overfunded my foo one cane roth ira make sense.

yeah. And i'm, you know, giving the max up to the match for the four one k and I， uh, sweated to max out the rap array.

great. yeah. And if you do all three of those, you are what's known as winning at life. That's amazing.

Grata, by the way, speaking of winning, you drop turns out there. I want to just give a little shout. That's a great word.

Shi, no, that's a word. By the way, you figure out how to use that right? Dropped that in a sentence this week.

Uh, you you get a good brand at work. So there you go. Just call that.

I was impressed. Yeah, very nice. One of the deck corners up next in boston corner. How can we?

Hi, can. Hi, jay. Lucky guys, thanks so much for taking my call.

You bet what's gone on.

All right. So my wife and I just got married were in the process of combining our finances. And I basically have a retirement question ah my question is should we convert the money that we have in our traditional for one kids into rough or he was just from this point forward, put money into the rough for a one k option.

okay. Oh, what baby step are you on? We're in baby steps .

three b we're currently renting, uh, and we're going to be running for the next couple years. Were not going to be in the city that were in long term.

yeah.

I mean, how much do you have can I how much do you have in your four one? Ky.

yes. So across my wife and my accounts, we have about two hundred and twenty thousand in the, uh, household income.

about the same. Very good, very good. Typically we would wait until baby step six to make a roll over like that because the truth is you're going to be on the hook for some taxes associated with that, obviously.

Um right. And with the goals that you have up until this point, in this case, it's saving for a dawn payment IT could really eat into that goal that you have. Um so for this matter you may you know yeah from this point on, I would do rough style that's what I would invest in. But I probably would wait to roll IT over until you're ready to fit the tax bill and that it's it's not gonna a put a dent in your other very important goals. So yeah, you could wait to baby step six .

to do that OK. great.

Thank very solution. They're rock love here. And that a spoke in washington, uh, near near a birthplace is right city here.

Before we go to spoke and OK, let me go back to that cause somebody might be like, why do they want to do that? What's the purpose there? There are four one k that they have now.

They have not paid taxes on that money, right? And what they're trying to set themselves up for is a situation that when they get into retirement, they can pull money and not have to pay taxes on IT. So if you do a raw account, you're paying the taxes up front so that when you're fifty nine and half an older, you can pull money from that, not tax on IT.

So most people would like to Carry that burden now instead of waiting for later. So that's the purpose of that. And whenever you attempt to move that money that you have not yet pay taxes on IT, well, then you will have .

to pay taxes on IT. Okay, no good explanation. And god, you did that. I Randy up and spoke in washington. Andy hockey.

I can. Hey, I was recent let go in my big cities, uh, from another delecour position, making more of two hundred and years. And since i'm completely dead for you, everything, and I have a pretty good, a mistake, statist de investment, while i'm talking about making a career change.

But to start out and be making, maybe there be fifty a year, the first couple of years, not later on IT IT goes the but the it's something that gives me out of the corporate stress in the hassle. I don't have to move to right down the road to my house that completely paid torry. But that sounds heard.

No, IT doesn't sound. We are given what you just experience, ed. I mean, when you lose a job like that, that is A A real shot.

Yeah we know from psychologist studies that it's the quiet and of losing a loved one. So number one, i'm sorry that happened to you. Number two, it's not weird for you to be thinking through this.

Um my my first question comes down to um the transition phase. So financially can you make ends me making this pivot to to the fifty thousand dollars year deal? And then how long would you have to live in that situation?

Yeah i'm cash moment at all and I have access to about out on a corner main ology in cash outside my uh for ren k investment to us all that. So my thought is that while I learn this learn this new clear path, maybe I pay myself three grain a months out of that more cash I have and you know.

we just, okay, right? So that's thirty six thousand. They keep in track of the money. So so that would that then get you to a place where we've got margin? If I if you use thirty six thousand of the two fifty that got set aside.

that's what my speech told .

me right now. What is the i'm just curious, what is this new .

path being a survey, our lights survey.

okay. And so, uh, how much is excuse me, is that a government job? Is that like a county level.

state level or is IT private? No, that should is a little private company that the have a more for business, right? So fifty thousand .

years for hell, long before IT goes up. And then what does IT go up to?

I would probable probably the first couple of years. And then and then as you get more experiencing your running your own jobs and everything, get in the nineteen eighty.

twenty, yeah.

well, that one is my wife and .

you ve got in your investment situation. You started off the causing in your investment situation is good in this situation. I'm OK with this.

I just wouldn't limit myself just to the to the fifty thousand. I'd be doing some other stuff in the meantime because I really don't want to use any of that two fifty i've set aside. That would be my vice if you love IT and you could make that change and i'm OK with IT. Not my favorite idea, but not a bad idea. This is the reanna show.

Do you ever feel like you're finally making progress towards your goals only to get quickly distracted by something else in your feet? Well, that's why we created the ramsey network at your single source for content that keep you motivated. The M.

C. Network, APP, is designed to keep your laser focused on reaching your goals. Loaded with over seven thousand hours of ramsey shows, this free APP is the best place for uninterrupted content and no distractions, plus you can search specific questions to get more personalized content in seconds.

So but the days you needs of extra motivation, you'll have proven advice at your fingering tips. It's time to get serious about your goals and shut out the distractions for good. Simply search ramsey network in the APP store or google play. If you're listening on a podcast, just click the link in the show notes to download our free rampy network up today.

Welcome to the anzy show, where we coach you to win in your life, specifically winning in your money or with your money, winning in your work and winning in your relationship. Phone number for you to get coach up today is triple eight, eight, two, five, five, two, two, five. I can.

Commodity war shot is with me, and we're here for you. Triple ate eight, two, five, five, two, two, five. start.

In the motor city, michigan, sera is on the line. Sarah, how can we help? Hello, hi. How are you?

Hi, good Harry.

Ones good.

What can we help with? Well, first, all thank you for taking my call. And you guys, you guys are absolutely amazing and help me so far um what the chAllenge i'm facing now is I have three hundred thousand dollars with the debt. I just I can't see way out. I'm working three jobs and I just isn't to work.

Will break IT down for jade here. So start off with uh your income h through the three different jobs, give us a range and then walk walk her through your debt.

My salary position I bring in eighty on, sorry, my salary is eighty. Um I growth um i'm sorry, I bring an eight and then I net fifty five when you .

take out tax concern .

and then I have a second job that I I grow forty, but then I am an independent contractor or like to take out tax and stuff. I net about thirty thirty five thousand good. And then I have another part time job that brings in about six mona box.

Okay, okay.

So seventy two on the eighty five. So you're somewhere in the ninety two, ninety three range with those numbers.

Is that right? Yeah and yeah, yeah, you do some of that.

yeah. Doctor j isn't today. So it's going to be OK.

I'm pretty like you didn't say that so bad, doctor. No that OK OK .

OK he's almost eight .

thousand dollars a month which into shabby um but you've got three hundred thousand dollars of deaths or walk us through this debt. It's all few loans okay private federal um I have two thousand .

thousand dollars of private. I will have those hopefully payed off by december the rest that three hundred thousand is all government.

What is IT four? I'm just curious. I went to last school and are we practicing law?

yes.

And that's that's the the number one of money you gave us what kind of law you .

do in yeah I do estate planning probated stuff goshi .

feels like we've got a path to be making a whole lot more than that in my writer, you feeling like your cap out and why no.

you hit the nail on the head. I ve been looking not on indeed in staff and I that's actually the average pay for where I live. And it's pretty it's it's hard to deal with because I do feel that I should earn more but it's it's about average.

Uh, do you is there anything keeping you tied to the .

detroit area friendly? Yeah okay, okay.

I want another .

silly question, jay, and i'll get out away. Um I I I am curious with with what you've done so far. Is there a pivot or some type of additional legal work that you could do that would add to your income based on your current qualification or specialization?

So I I, I really say license about year and a half ago. So that's my second job.

Yeah, i'm talking just the legal field, right?

Well, the reason why I got a different type of job as I am really burn out practicing laws, i'm trying to expand on other things. So that's why got my real state license help bring in more money. But that's extremely part time. But I I really want to try to put that out of practice.

I get IT, but i'm and again, i'm about really entity no prom, but you got three hundred thousand dollars in law, gold debt. I don't think you get to burn out yet. And and I think that the greatest opportunity for you to make money is through your law, your legal work.

You just don't have time to sell houses. That's a full time deal, you know. So it's either or it's like you go all in on selling homes.

And if you do that and there's no limit to what you can make. But I just going to make that point. You you know you've got to bring in some more income here because three hundred thousand is dua blamable inner over j. Jake Walker through the the processor.

okay. So the loans did you consolidate them or the single singular? O that's good. That's good. okay.

So as try as this may sound, all we're doing is listings them from smallest to largest, and we're paying minimum payments on all of them. hopefully. I don't know you enrolled in any of the assistance plans. Are you in save plan or anything like that?

The income of payment, i've been on that for about thirteen years.

okay. And is IT gonna a run out? Or do you still have time to be on .

IT on the honestly, I tried to read role and IT takes months and months to get an answer. So I I don't know. I'm kind of limbo right now.

okay. What's your current payment for? For a lot of them.

I don't pay anything.

Okay, good. So here's what we do. The fact that your minimum payments are zero is a good thing for you right now because that means you can put the full strength of your income on the smallest dead and knockit out fast.

I wish there was a way to tell you that there was an easy button here. There's just not. And if you would listen to our show for any bit of time, you know, my husband had two hundred and eighty, okay. And at the time we weren't making what to combine what you're making now. And so there's there's a part of this that you have to just, you know write that income until the the dead is gone.

You know, once you have maxed out your money for your time, and I don't know that you have yet, can I agree with kin? I think that you can do more to max out your time and get Better money for IT. But once you do hit that point, there is a point where you just go, okay, this is what i'm making, and this is how long it's gonna take. And as i've said many times before, you gotta ride that horse to the old town road, and that's what you've got to do.

And then when it's done is done, that song is gonna in my head now all day. I don't have you to thank for that.

I'm like, yeah, i'm kind of like torn because I actually make more money. So a little state in half matic time. This is my salary position of court that patch every .

two week well and what transition look like, that's what i'm getting that like if you get after and you can double, triple your income. And this is a game changer.

Y key word is consistently. If you can do that consistently.

then that's a great sign. Yeah, it's almost like what would have to be true for you to change your schedule, stocks, some money up or something to be able to then go, alright, on drop in one of these jobs. My god, you get more jobs and you know what to do with right now.

So we ve got to create some margin timelier, which means we ve got to have some margin money in wise. I jade, you trigger with me. And what would you take for her to get to a place to where he can now go all in a real estate? And that can take a little bit of time to build a pipeline up.

yeah. I mean, we're always looking for you to be able to replace whatever your income was at its best, right? And if you can do that consistently with real, say, I say more power to you. The weird thing about real estate though is of its nature. IT tends to be yes.

up and down yeah what's the market like in .

detroit area? It's slow. I I did consistent at least smart listings and closings, but it's the coast.

see. So you got IT to jays point. You got a fact of that in the market determines what's going on in some degree. You don't just you know, i'm going to tell you single unit everybody wants to buy a house from.

I'm going to tell you when you have this kind of death, there is something to be said for being able to count on. I know was coming in and I know what i'm doing with that there just yeah assembly line that you can just i'm cracking IT out. I'm paying off the dead and this is temporary. And when the time comes, you'll do what you love .

there time I because of the market, where is i'm i'm going to go to jail, decide what you can do and locking on IT channel, get that at mindset for the climb, right? It's going take me out to climb this mount, but I will get there. Appreciate to call you ve got this stay encourage. This is the reemphasis.

Hey, good people, it's still lonely for my friends. And helix, the makers of what I think are the greatest matters is in the entire world. I've supt. On all types of mattress, cheap ones, really expensive one's thin camping mattress. You named IT.

I've slept on IT, and I love he looks so much that now every single member of my media family sleeping on the helix and listen, everyone sleeps differently. And that's why helix has lots of different mattress models to choose from. Each design for specific sleep positions and field preferences.

They got matches for side sleepers, stomachs, sleepers back sleep, everyone. And he lets also has enhanced cooling features to keep you from over heading at night. And if you're spanish extra to c, they've got you too.

And he looks knows there's no Better way to test out a new matter than by sleeping on in your own home. So he licks, offers a hundred nine trial plus all helios matches come with either a ten or fifteen year warranty. I want you to get online and take the helix sleep quiz.

I did this and they matched me and they'll match you with the perfect matches for your sleep preferences. And IT takes less than two minutes. And here's the best part.

He licks offers our listeners twenty percent of all mattress orders. Go to hex sleep dut com slashed a ramsey that he looks. Sleep dut com lash a ramsey with helix Better sleep starts right now.

Hey, guys, day rams here and I got a big announcement. I'm coming to a city near you live on the money and relationships tour with doctor john the loni. This is the most interactive event we've ever done. You get to decide what we talk about, you do not want to miss this were becoming the love germ atlanta photo x forwards and kenza city in April and may of twenty twenty five get your tickets and more information at ramsey solutions not come slash .

tour helping you win with your money, win in your work and win in your relationships. This is the rampy show. I can comment alongside jae warshow. Today's questions today brought you by why refile private student loans are different than federal student loans like eli may, but they can hurt just the same. Why refind refinements is default T E A private suit loans build a custom loan based on your ability to pick. So stop feeling the pain of default to private student alone that go to y ref I dot com slash RAM z that's the letter Y R E F Y dot coms lash and IT may not be available in all state.

That's right. Today's question comes from in new jersey.

Hey, where can I find accurate market research on the salary of my current position and positions I am considering in my field and making a case to my manager that I am underpaid or looking at other job opportunities in the industry? What websites should I be looking at, or should I talk to others in the same role? Being respectful in coming to my boss with accurate numbers is important for me for obvious reasons.

Well, to avoid coming across like I endorse any sight, i'm not going to get specific names, but this is very easy to look up. I would be looking at job sites o well known job sites that are all over them. I don't know.

You can say that's where I would go linked in um yeah just pull up the research and what you want to do though is be very, very I love how you just jut right in the that uh but what what I would uh do in the situation is I would make sure that i'm also doing the second thing that he ask it's yes and yes. I would absolutely be talking to people in your area, in your field with similar skill and experience so that you get A A real time situation. Now here's a deal and all these people .

can tell what they .

know that what I was to, again, you could say to them, if they want to tell you their situation, you say, hey, i'm just curious, based on my skin experience, what do you think is give me a range of what you think is market based value, then they will talk you about that because you can say, give me a range and they may say, and i'm making this up uh, sixty to seventy five and because what you're asking for is give me a range. Give me a low to a .

high and how um what's the interval of that range that you're looking for because you don't want him to give you a thirty thousand dollars spread.

right? That's so you want to say, give me a and then you're asking questions and you can come up with your own number. Um but between the two things, the research and uh the feedback that you're getting, you can come up with a pretty good number now that the key thing that I won't talk about is not so much the number um because you can go out, get a number all you want to, but companies have budgets and this decision is rarely made directly by your superior.

Yes, IT is very rare that you're just going to go to your superior and it's all in their hands so you need so you know your situation in this case, uh, dean. And so in that case, what you're going to have to do is, is you can, okay, I want to get to this number, but realistically, can myself appear, get me that number in the ends of probably not. Which means you've got ta do as much as you can and to help your superior make the case on your behalf, right? And so what you're going to is you gonna get real market research, that is, that is viable.

You can verify IT. You go in and go, hey, I want to get here, kay. And I understand that that may or may not happen right away, but i'd really like to discuss a growth plan.

I never want somebody to go to go. I just want to get to this number. What you want to do is say, hey, I want to talk growth.

And so I want to talk about what I can do to get Better. Give me some areas walking up skill. Give me some areas rive, some blind spot.

What if you already are there?

If you already there, then you have to have that over.

I'm saying on the skills, but not on the money. Well.

in that case, again, the growth plan is the way I would want to talk about because now I would want more responsibility.

I see.

because OK you you're never going just give .

me more rights.

I see god gives a leader a narrative.

yes.

Okay, if in fact that i'm right and and this is my supose tion, that it's rare that the boss goes in, you go and they go out yeah let me correct let me let me move the .

numbers around back tomorrow.

In that case, we want to create a narrative words, some hunger, some humility. I want more responsibility and and with more responsible bly. Can we measure that and in those results? And then can we tie that to cop that's different than say, hey, I did market research.

I'd like a rse yeah yeah you can't come in guns of blazing .

that's might take in that same conversation. It's just we're not putting that leader in the defensive poster because then that never worked out so that that's my rule of them. And with IT back to the phones, we go to triple. Eight, eight, two, five, five, two to five aims on the line in same for isco. Amy, how can we help?

Oh hi am I am call because I don't know what against my moral and obtained are as as a daughter I am a middle d and I know that my parents gave my two sisters forty thousand more than me um but I also know that some tax experiences that i'll be the one that more expected to be there for them when they get older and over when my grama over two because i'm posed by uh I just can help to feel is unfair that I have to work harder because if I have the same amount of money, I would just be and not have to work as hard as someone that got more than me.

Forty more for, are you talking about? Forty came more for what is inherent ance as a college? What why was given .

we for her dumping for home? I use IT for dumping on my studio and my sister. I think SHE invested IT in stock.

But you're saying they got more money than you?

yes.

What did you get? Total sixty .

six and .

they got one hundred.

yeah.

And you're the middle d and you feel in some type away.

was this the same time? I do no with .

different times, that's the thing. So my middle of her physically has made more. So he was able to buy a home sooner than me and my big sister um so he got that money first, obvious ly my mom, you know and then um my big sister and I got fifty thousand years in the same time.

And then I know he got another forty thousand. And then I remember um versions. I.

Do you ask well, let me let me ask you this, when you received the monies, did your parents say and you're going to get this and they're gonna get that? Was there any conversation from the parents or you found out about what they got through the grape? fine. basically.

I think I found out through the great film IT was SHE never stat us all down and that i'm going to be eat a hundred .

thousand IT was .

kind of like, oh, my losses when .

I ask list amy, you are, you are a lays potato chip. You .

are so salty actually. So we we have about two minutes. So is you because I want to dress what you said? I didn't hear a direct question in theirs. I want to make sure that we I think I know where you going with this, but what's the question?

My question is I feel like over and you don't.

That's not your problem. I thought that's what IT was because you said that are so i'll i'll be quick. I want jay to jump in. Um I there's two things going on here one i'm sure of the other I think the one i'm sure of is your parents exercise poor judgment. I don't care what the reasons are.

I think they're very nice people but they just exercise poor judgment because how this thing is played out um and and and I also whatever is going on, I believe you that when you say they make you feel like you're going to have to be the one that takes care, that's the i'm sure of that sucks and that's not on you and you've got ta shed that. The thing that I think is going on and this i'll be my transition to handed to jane uh, for her take, I think your code dependent and I think that you've built up some of this in your mind too like you're the one that has to take care of because you're more responses. The other sisters, the studio audiences are Green with me, which tells me I might be right. I think you, but you ve got to release both.

They can put something on you, or you can put something on IT yourself about what the future holds. But what actually happens is up to you, and your obligation is to you and your family. And if your parents had the money to give you all two hundred and forty thousand dollars, then they should be able to take care of themselves.

And if you, if your sisters were gifted one hundred thousand dollars, they should be able to take care of themselves. And that's the truth. And the rest, like ken said, you're going to have to let you go because that resent ment in your heart is is sickness to your body. So you got got to let you go.

Maybe watched the movie frozen tonight and seeing the song from a different perspective might help assist the rain to show.

This show is sponsored by Better help. October is the season for wearing costumes and masks. But let's be honest, a lot of us hide our true selves behind a mask and costumes all the time.

We do the the work. We do this with our friends, with our families. We even do this with ourselves.

I've been there multiple times in my life when i'm not being my true self, and it's the worst. If you feel like you're stuck hiding your true self, I want you to consider talking with the therapy. Therapy is a place where you can be honest with yourselves.

You can take off the costumes and take off the mask and learn to live an authentic life. If you're considering therapy, I want you to contact Better help, Better help us. A hundred percent online therapy.

You can talk with your therapies anywhere, so it's convenient for your schedule. You just fill out a short online survey and you get matched with a license therion plus. You can switch therapy at any time for no extra cost.

Take off the costumes and take off the mass with Better help. Is IT Better help? Dot coms lashed the loni to get ten percent off your first month. That's Better. H E L P 点 com slashed。 Tony.

I think wait, all agree that it's a lot to run race if you don't know where the finish line is, but nearly have for all americans have no idea how much money they'll need to retire with dignity. If you're ready to stop hoping for the best and start planning for your future, then check out the smart vector program. A smart vector pro can teach you everything you need to know to get in the driver seat of your own financial future. Connect with a poet ramsey solutions dot com sash smart vester rams .

solutions is a paid non client promoter participating solutions that com sly smart vester. Welcome back to the rams c show. I can comment alongside the budget queen herself.

Did you like? I like jeep. One of the things we've been doing the show, this is so practical. We've got Philippon line in little rock, ark sole at spring. Him on Philippa.

i'm doing well.

So are you doing what good are you're ready for a budget breakdown with doctor warshow here? Yes, all right.

Take you away. Sorry, that can took that to the next level .

of that's what I do.

okay. So fillip, let me just set IT up for the audience because what we ask is for people to send us their budget know because starting a budget for the first time can be tough um you don't know all the factors to IT and so we want to give people a little leg up here. And so phillip, you cent us the budget thirty two years old little rock art and saw your single, yeah, just do.

yes.

okay. And so what do you do for .

living a school teacher? Band director, be exact.

Okay, so band director, you're making fifty one thousand a year, yes, but you're taking home three thousand, one hundred ninety one. Okay um so your goals that you told me, you said, okay, my goal is I want to save three to six month of expenses, I want to get out of debt and I want to purchase a car.

But IT looks like there is a decent amount of death that standing in your way, according to my screen, you got sixty nine thousand five hundred eighty nine dollars in all one student loan. Is that right? okay.

So that being said, uh, I was able to take a look at your budget and we're going to to go through some areas where we think that you can find some savings in some ways that we think that you can kind of gitter your help your head in your money around the student one. okay. So let's go through this. First off, are you did I ask you are you investing at all?

Not at the moment.

kay, not investing. And can I ask you about your tax return? Because those are the areas where were usually able to free up a little bit money when you get your tax refund every year. What does that look like?

Sometimes I think a max gone was like twelve 止。

okay. So I would say there might be some room in there that if you adjust your withholding, you can get that money back in your paycheck because the idea is free to break even. Maybe you pay hundred dollars right as supposed to be getting getting back money because that's money that you could have had throughout the whole rest of your budget, one hundred dollars a month.

So that's something so that's the first thing I do. I'd probably check out my um withholding there and make that adjustment. But let's kind of go through this this budget here and they are going to bring IT up on the screen.

Oh, so your rent is looking good. Five hundred and thirty five dollars for rent. Uh, electricity fine.

Internet looks good. Gas looks good. Um let's look at groceries. One hundred and twenty dollars for groceries.

What are you eaten? Not much.

Now, uh, i've do a lot of cooking. I am dating and so my lady, he likes the cook. So I would, yeah, I would do not a cooking .

for her yeah but to to jays point, what are you a cooking? It's only one hundred twenty box. You get to meet the freezer.

yes.

but don't get that dollars store .

meat because that's get .

o rossy one, you are killing IT that's amazing restaurants forty dollars if you really wanted to go hang on this, you would knock that back.

I don't know what that means.

That just means to really go hard.

Oh, okay.

I actually hardly eat out when .

I cook for his.

Yeah, we do most. I do more cooking anything.

Okay, good. Keep doing that phone bill eighty dollars again can get much Better than that and you're currently paying your dog gender student loans. I'm guessing you're on a safe plan, something like that I love that you're giving and then there's two thousand dollars in your emergency fund um over here, which is pretty good.

So that also shows me another thing you could do. You know we say a thousand dollars while you're in death is enough and so you could immediately throw that additional thousand onto your debt. Um my question about the student learn did you consolidated in one?

No man, actually um this room alone is not at my first paint, not due to december twenty twenty five. So I kind of want to get ahead and again, get a plan start. I can go head and get that out. Also want to get two years. yeah.

Get ahead. I mean, currently with your existing income and with the fact that you've got eighteen hundred dollars. So if you look at the top of the budget there all the way appear his margin is showing eighteen hundred and thirty one uh thousand eight, one thousand eight hundred and thirty one dollars of margin.

I mean, you and I can do the math on that and say, if you do that on the student loan is gna take you quite a while to paid off, right? And so the key is we got to bring in some margin. So are you doing anything as a side hustle?

No, i'm actually been putting in give some second jobs working so I can, uh, going in this OK.

Well, if if I were you, I I suggest everyone do aside how so they need to be making at least five hundred dollars extra month. But for a guy like you, if you can find a way to bring in basically another, like you said, part time job, if you can pull in twenty five hundred dollars a month, if you can pull in three thousand dollars a month, doing another second job that is going to cut this down to a two year window for you.

what do you do or what have you done? Tells a little more about your professional .

background um well I recently close that so of have have been teaching school for minute been you know on enough in different places uh 啊 there with a amazon。 I used to work at amazon. I read left amazon to go tea school and that kind of where has been from there after college has been getting into .

a school system OK .

what were you doing at anyone is on now I ve been a small session section um so they .

to learn bassam or okay .

what are .

you making that was like what I think about forty and you're a full time teacher right .

now in the public school system .

yes okay what .

do you making? I got missed .

one thousand eight hundred yeah I wonder .

if the uterine or i'm just trying to to to give you some edition here on know I like jade suggestion here, like what would have to be true or in other words, we could say this why? What could you do to make an additional couple grand a month? And i'm wondering if tutoring or some type of training instruction, you get all this background as as a teacher, you know if you could get some part time hours doing some type of training or something, I would just be looking in that direction. You're an instructor and to the extension, you could get some of that contract or that's where you could stack up some, some decent .

money that make sense? yes.

So let's look at this in in terms of role numbers. I'm just kind of trying to do some rough math over here.

So right now, with your margin eighteen hundred and thirty one um dollars a month over the course of the year, that's almost twenty two thousand dollars that you would pay off from this debt, which means you would be debt free about three years but if you do IT kenni or saying IT would give you a if you added twenty five hundred dollars to your budget, that would give you four thousand, three hundred and thirty one dollars of margin and over the course of a year, that's fifty two thousand dollars. You see warm tracking. And so this this is huge. So you know, i'm not saying tomorrow you're going to wake up with twenty five hundred dollars of margin, but let's start five hundred, a thousand, two thousand, and let's stair step this up to get to where you want to get because that's suddenly that's not a that's not .

a big pills to swallow anymore. It's it's very, very doable. Are you feeling that moment?

Yes, set up and still next for for main that man back and forward notices to talk my past about things. And like past, i'm ready, ready to go get there.

I know that's right. And what your pastor say.

he said here, your single guy, he said, faith .

without actions is dead. Go do IT wow.

When the student is ready, the teacher appears. That's great. I think jay did a onerous job.

Feel IT. We're very excited for you. I think this is all about intentionality, and i'd had some intensity of this.

I think you could be making more money on what jade on that. That would be my number one. Let's go, phillip.

Cheer is let's go make some more money and speed this time. That's right. That's what I like.

He's got three acts of homework, and these are probably homeworks that apply for you. If you've got additional money sitting in savings that's above a thousand dollars, you need to put IT towards your debt. Number two, you need to check out your withholding.

If you're getting a tax refund, that's money that could be back into your monthly cash flow. And then finally, are you side hustling? Forty percent of americans are side hustle ling because they know we need this extra money in our budget.

And so that includes you to america. Look out there and see what you can get. Try to put five hundred dollars, a thousand dollars, two thousand .

dollars back in and see. Forget piece of, if I SHE just dropped in the earlier, stay away from the, I need to learn more. This is the radiation. I know you work hard for your money. And the key to keeping more of IT in your pocket is by making a plane for your spending.

With a budget in every dollar is the budgeting APP that I use personally because it's perfect for looking every dollar you make in its little president face and telling IT exactly where you wanted to go, just like you told that gun traffic actually where you wanted to go. And even Better, every dollar walks you through the entire budgeting journey. So you always know your next right step, download every dollar for free in the APP store or google play today.

Welcome back to the ram's show. So excited that you're with us. I can common and i'm joined by jay warshaw.

Yeah learned something new everyday. So learn a lot. Learn a lot on today's it's to j she's SHE given me to be more more relevant party. Am very irreverent. I've .

increasingly aware .

why you're there. I need to hang out with cool people like you. So there we go, folks. Time is running to book your cabin on the live like no one else. Cruise setting sale march twenty two to twenty nine, twenty twenty five.

anybody? This is not a your average cruise premium a carrey and cruise turky, cao's, porter, reka and Thomas in the bahamas. How in america's new starting dump um incredible restaurants, great content, including all of the Randy personalities.

You get the pools, the hot tubs, the fitness center and pickle ball courts, where I will be a the resident, whatever, cheerleader, pickled instructor, chees. And so was gonna a lot of fun. You don't want to miss this rave solutions that flash should go sell out.

And these solutions are come as crews would love to see there. And i'll tell these fine folks sitter in in the lobby you right now I am going to I want to have some cruise, some cruise outfits. If you know what i'm saying, i'm going to have the the top siders. I think kind of the preppy sailor, look, maybe a couple of times .

giving me gilgan islands.

I wear gilgan here. Skipper vibes? No, not skipper. gilligan. My speed.

The red shirt with the White color? No.

to put that little the bucket head.

I think I OK OK.

I was about to say, I think I could pull the back off, say, depends that point, all right. We love to see on the cruise to be fun. Dave, dave, on the skip hat. That's what people want to see him rolling around the deck on this with a skipper hat. Oh, gosh.

So i'm not going to say what I want to say. Let's move on.

I think I want to know. I feel like okay during the break, and then i'll decide if we can bring that back. okay. James as well is up in boston, mass accuseth. Any hot we help.

hi. Um so I just 你 有什么 question um recently my husband inherited ves of money um and we started calling in our money but when IT came time to decide where this should glow um he kind of but they put his foot down and decided that IT should be invested as opposed to paying down our .

mortgage how much .

and um so the total that would eventually invested was about one hundred and forty thousand OK。 Um we are on technically that sec um looking to real that free. Our kids all set with their five twenty nine and there's money satisfieth where where we're contributing to our four one case and our ross.

how much do you guys have invested or how much did you have invested? Well, I let me stuffers. I could have you already invested the one forty or this just something he said. This is what we're going to do.

So he, we did IT did it's it's .

in there .

and I I disagreed. I wanted to pay down the mortgage and struggling get so so .

I can you .

tell me what that looks .

like when you said he put his foot down? And what did that look like? Did that look like him going and doing that without telling you? Tell us we .

definitely IT jointly and not a fighter. So um I said I really love to put IT toward to the mortgage and he said, well, i'd really love to invest IT and then we look at each other and go so we're investing IT, right?

And you know .

that was like trumped .

me a little day.

This was about two weeks ago, right?

So quit before we get into that. So what here's what I want to know. Get in to that because this is a relationship issue, not a money issue. But i'm just curious how much how much was in the retirement accounts before you put the one forty in?

So there is a separate investment account that we started. So in his four one key, his retirement account, he has about four hundred and fifty thousand. Ah okay I have about two hundred and fifty thousand. Um where d you said different contribution .

rates and takes a .

little Better than how how to see and .

how are you um he is fifty three and I am forty six. Okay.

so you guys were about six hundred thousand in your your separate accounts and now we created a separate investment fund with the one forty in IT. Is that correct?

How much is how much is .

left on the house?

About three hundred thousand.

Yeah okay. Well, gate. The reason i'm asking all these things is I just think all we can provide here is perspective number one, because this is a relationship issue. You guys guys are in great shape.

Uh, I can see I I will say this um I can see why he did what he did and I can also see why you wanted him to put IT on the house. You're almost cutting IT in a half. Um financially speaking.

nothing is broken because this decision was made on either if you guys had put IT towards the house, yes, that's in keeping with the baby steps and that's what I would have advised you to do, uh, by investing in nothing broke. You guys are a great situation to kin's point. This is this is a relational thing. IT didn't sound like IT didn't sound malicious the way you talked about IT IT felt a little dismissive but if I might add, I think I might was dismissive on both ends. I think that he dismissed you when you initially brought IT up, but I also think you dismissed yourself if you didn't bring IT up again more intently um so for that reason, I do think it's let's let's figure out what's at the core of both of those sides.

I I agree and and maybe it's because i'm technically the inherit was to him so I I almost felt as this like OK well, you know he's opinion should matter just a little bit more.

I could see the line. I totally understand that.

Yes.

i'm not saying .

that's right, but I can understand your way of thinking um is he .

opposed to paint the house of.

No, but I don't think he s like I have a different urgency. He wants to retiring in eight years, and i'm only making too an extra. I I am like snow when I say this, and i'm very sorry, i'm only making two extra payments on our mortgage .

every year and I .

feel like we could do more to pay off the mortgage so that I wouldn't have a mind, right?

And I think that's the conversation when I say that this is a relational thing. I agree with jade. I think you've got to go back to him and go.

Hey, first, all two things. Number one, I think I love that you call us and I love you. You admitted that you resenting him right now. I I think that's important that you are expressing those feelings, and i'm guessing you've expressed that to him.

And I think you should I really think you should say, hey, i'm struggling with this and i'm presenting you and I don't want to and I think we gotta get together, whether that's with a therapist or a pastor or if you too have a great relationship. This is just a this is just the chill conversation is not a big fight because you, as jade said, so beautiful, like nothing's broken here other than feelings are hurt. And I think most of the feelings are N N your side.

And I think you've got to address that. So here's what I I would say. I understand what you did. I need to get this out, but I want to understand why i'm resenting and what's on underneath this. I'm not going to resent anymore, but I need you to know that i'm fearful.

I'm fearful with this mortgage changing of our head and not being gone in eight ears from now when you planned retire. Can we please talk through this? I just see you know why i'm feeling what i'm feeling. J, agree. I think that's the approach.

Yeah I think you yeah one hundred percent I think can covered IT um and just based on the way you're talking about, I do think that you probably stepped lightly, maybe a little too lightly yeah and yeah this is the truth is you are in a marriage and what's his is yours and what's yours is his and you both to make this decision to get bad as the truth and a healthy marriage that is the way that should work.

Are you anywhere? You anywhere you going leave? no. Is no. Is he going to leave you?

no.

okay. I know that was. I know your chocolate, but do you know why that question? That's the perspective you've got to take off this call. We're in this for the .

long hall were going to OK.

No, no, no, no.

no, no, no. Nothing messed you up.

You're still on a course to succeeded. You are going to pay the house off, and the intensity level is determined by the two of you when you have that conversation.

Thank you for the call in a year. Good lady. This is our intention.

Hey.

you're still here.

What are you doing? You do know that the rest of today show is playing right now over on the rainy network gap, right? All you got to due to finish the episode is search ramsey network in the APP store, google play store, or just click the link in the show notes to downtown the APP or free.

Yep, you heard me right for free. Then right there in the home screen, you can watch the rest of today's about a being about to ball, right? I'm getting out here. Enjoy, we'll see on the end.