cover of episode Controlling Your Own Behavior Is Half the Battle to Building Wealth

Controlling Your Own Behavior Is Half the Battle to Building Wealth

2024/10/28
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Key Insights

Why is Vinny considering changing his job despite loving his current role as a Bible teacher?

He wants to increase his income to support his wife staying at home and provide for future children.

Why does Lori consider buying a house despite the lower mortgage rate compared to rent?

She thinks the mortgage rate is lower and wants to follow Dave Ramsey's plan for saving up for a baby's emergency fund.

Why is Nilly seeking advice on whether to incorporate as an S corporation?

He wants to protect his business from liability and is confused by conflicting advice from TikTok videos.

Why is Zach hesitant about selling his home and buying a bigger one?

He's concerned about the market conditions and the financial strain of selling and buying in a competitive market.

Why does Bridget want to know how to manage her stolen identity situation?

She wants to recover her lost funds and prevent future financial damage.

Why is Brian considering holding off on paying his student loans?

He wants to wait until his income increases to better manage his debt payments.

Why does Sam and his fiancée feel rushed to build their dream home?

They see it as a great opportunity in their dream community but are overwhelmed by wedding planning and moving costs.

Why is Cash considering a cash-out refinance to help his mother?

He wants to simplify her financial situation and ensure she has a comfortable life.

Why is Mark questioning whether to finance his roof repair?

He has a terminal illness and accumulated consumer debt, making it difficult to cover the repair costs.

Why is Luke seeking guidance on setting his home-buying budget?

He wants to make an informed decision between paying cash for a smaller house or taking a loan for a larger one.

Chapters

A caller seeks advice on using a cash-out refinance to pay off his mother's mortgage, considering her age and health concerns.
  • Caller wants to simplify his mother's financial situation.
  • Caller's income is insufficient to support such a move.
  • Alternative suggestions include stipends or moving his mother in with him.

Shownotes Transcript

📱Watch the full episode for free in the Ramsey Network app.)

Jade Warshaw & George Kamel answer your questions and discuss:

  • "Is it okay to continue renting indefinitely?"

  • "Should I continue to wait on buying a home?"

  • "My identity was stolen; how do I start over?"

  • "I got a court order for a credit card I don't own,"

  • "Do we need to finance a roof repair?"

  • Talk Nerdy to Me: Explain Dollar Cost Averaging

  • "How much house can I afford,"

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