What Are You Willing To Sacrifice To Get Out of Debt?
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Live from the headquarters of ramsey solutions. It's the ramsey show where we help people build wealth, do work that they love and create actual amazing relationships. And dad ramsey, your host kid, called on number one best selling author.

Ramsey, personality is my cohosh today. Open phones here at triple late eight, two, five, five, two, two, five. Thank you for joining us.

Liz starts off this hour in mobile, ala. obama. Hi, liz. Welcome to the RAM g show.

Hey.

how are you doing Better than I deserve?

What's up me too? So I am with someone very committed that I found out he's not a filed in tax. He's been having taxes taken out of this checking seeks like that. He has not actually filed in about twenty years.

And i'm trying to figure out um the rest of my life basically because were very committed, he's teen years older than I am and wants to retire, not where we currently live. And um I don't really want to go because this is where my job is and i'm not ready for retirement. I still have about ten ten more years before I can retire and um I just know that once I leave there, what leave here then I have to start over so a little advice maybe I don't know.

I mean how how do you feel about planning your future with someone that's in jail?

Um not very concerned about yes.

i'm pretty confident that .

what is going .

yeah fail you know to file federal income taxes is a federal crime. Twenty five hundred and eighty one people were incarcerated for that last year. Okay, it's go to jail, do not pass, go, do not collect two hundred dollars.

So I mean, mister, off the grid or whatever the flip is going through, his red neck brain is about to have a serious problem. And to the extent you're connected to him, you're gonna have a serious problem. They will catch up with him OK. They're not good at a lot at the irs, but they're really good at collecting taxes OK.

So why .

has he, why has he pray tae not filed his income taxes?

I am not one hundred percent of that answer um I just know that there was A A history of a no job and then uh so he didn't have to do that obviously but then when he did don't I don't really know what the thought process was there so I I can answer that one that sounds .

like there wasn't the thought process. So okay, there's just a lot of red flags there. If you were my little sister, I would just tell you to rethink whether you're gonna committed to this guy if he is going to clean up his act up and get caught up on his filings um you know maybe he now maybe that would entitle him to your attention, but he's not entitled to your attention right now because this is not a good guy.

I think he's evil, but he's he's really slaughter. This is dangerous. This is dangerous. Lives there is.

if he's willing to withhold information from the federal government. And days made IT really clear what the consequences of that looks like. He's what pretest is. He willing with hole from you told?

I know.

I sorry that just that just jumped into me is such a great phrase I I think they was really crustal clear with you, but I would dump this .

guy a tally, cleaned his life. He will not get current on his taxes. That's a deal break er for me if you're my little sister, i'm going to make you do that.

okay? Now if he wants to get current and not go to jail, I can actually walk him through that. And i'll give you a little quick overview because now that i've started this up, there's other people sitting out there going, oh god, yeah okay.

So here's what he can do CT. You can go to ramm sy solutions dot com. You can get in touch with one of our tacks, endorse local providers.

And if you will proactively go to the irs, you usually can file about three, maybe four years worth, and they will call, they will let you get back on the grid. And they're be no criminal charges. The criminal charges do not occur when people come to them. I ve never seen anyone get criminal charges that we, we will, we walk them out of the out of the dark, into the light, into the irs office with a professional and get him caught up.

Okay, he's gonna be OK if he does that, but if they find him, 嗯 and he's trying to hide， oh IT, that's when you get in trouble so he can get with a tax professional probably file about three years, maybe four years worth, they will call IT even they'll call IT a day and he he's going to go back dig up his w tus and figure out what's been withheld. He may not even oh a lot of taxes. He may have had so much with held that there's actually money due to him. Well, not with the penalties and interest gona get but anyway, you see what i'm say IT might not be a IT might not be a hundred thousand dollars IT .

is a problem. Like, yeah.

big deal. okay. So he if he's going to date model sister lives and SHE and ask her to commit to him long term in the former marriage or something long term. Uh, big brother dave is going to say on unless you're willing to get current on your taxes and stay current because I don't want my model sister is married to a jail bird.

Yeah, and god only knows what he gets her twisted into too. I mean, i'm not trying to just pour on here is what the things that could happen, but this is so bad, and I don't like the idea he wants you to move, start over fresh. I mean, there's this this relationship is really jacked up. But I think that paul is necessary. I really think this is a relationship issue, is all this is this says the money issues, not your problem and .

IT shouldn't be your problem. It's it's going to be it's going show up in a whole bunch of polices be a problem.

It's funny that you say they the rs loves when you come knock at the door. I'd love to collect your taxes but boy boy they get mad if you haven't .

in IT in oh man .

they will turn IT into a oh i'm one .

of their favorite hobbies. They've got their own office auditing me. They just live with us um but um you know I hate those people but but and i'm not i'm not like a proponent of like I think the federal income tax system is a wonderful thing.

I don't I think it's I think it's an out of control, arcane, horrible process. I'm not not any of that. But i'm just saying when you don't file to axis, it's not you're making a statement about them. You're making a statement about you. It's correct.

And we love our freedom more than we hate taxes. And so that's the issue here.

Well, it's not a matter of integrity to do what the law says. agree. Yeah, uh, be careful is be careful, you've been more n turn and now, you know, open phones here at triple, eight, eight, two, five, five, two, two, five.

By the way, that what's tired to that is this tom stand. They did the book millionaire door many years ago. He passed away.

Sants was one thousand nine ninety two. He did a book later on billion airs. And the number one character quality he found among those self made billionaire was integrity.

嗯， that's come like the opposite of the spectrum. Blizz guy, yes, this is the msy show. Hey, you guys, i'm not a fan of the big banks.

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what's up? I'm good about you Better .

than I deserving how can help?

Good um so i'm twenty three years old and I have alone. I owe my parents ten thousand dollars right now for what um is an interest free loan uh about eight thousand dollars is for my car that I use for work. I'm a fairie um and then about two thousand four hundred dollars is for a few previous months of rent that I needed help with OK. Um so um I I asked them to forgive forgive to loan and they got upset with me. They said I was ungrateful and they that I needed to work harder um and so I was already kind of on the hunt for a part time job so that I can um a second jobs so that I can pay off the debt quicker good um but so right now i'm i've got about twenty five clients as a failure so I trim .

and shoe horses over client make in the in colorado what kind of money .

you well so like before gas and tax and surprise and all that good stuff, i'm probably going to make about fifteen thousand this year. So not very much at all. Probably like closer to ten thousand.

That sounds more like a side hustle than a job.

right? right? And I so I really anticipated just being able to grow my business quicker, just why I was more comfortable gudin these loans like they're not huge loans, but watch .

watch a question afric.

要 比 so I asked my parents to forgive alone .

and .

I and they're got， how upset did you ask?

No, I said, you told us that already.

Oh, okay, i'm sorry OK. So how do I the thing is, I, I, my parents, I didn't go to college. I have became a fairie and i'm the Youngest of five kids.

And my parents have given my other siblings um help with college. And so that's what I was comfortable asking them to forgive the loan. But well, I guess I mean, you're proud gonna tell me just just get a second job and paid .

off now tell you get a real job. You you already have the second job. Ten thousand dollars is not even survival money. Do right?

Do you?

Are you a failure because you love horses?

I do. yeah.

okay. Then how does one make forty thousand? How does one make sixty thousand? How does one make sixty thousand dollars working with horses? I don't know the answer you probably do correct.

right? And so that's why I asked for them to forgive the one we .

need to could talk .

about forgiving top p.

Patrick at rick need .

to talk about for giving the one they're not going to forgive the loan. They told you to go get a life in pain. So let's go get a life in pain.

Answer his question. why? What does IT take to make forty thousand and eighty thousand .

screw around horses? Well, you can make good money as a failures if you have a lot of clients you need, like a hundred or more clients.

Now you have twenty three, you make ten thousand. One hundred would be forty thousand. And that's gross, not net. I still not good money.

The answer, the answer, Patrick, is not to double down and say, well, i'm not good at marketing my services. Well, that's a lesson that you've now learned in days, right? So what you do have is a decent side hustle.

But the answer is, the question is, what what must one do to get a sixty or eighty or hundred thousand million job working with horses? Were creating a latter here also, the answer should be welkin. I would have to go work for a large branch, and I would start out here.

And a lower level ranch hand is going to make thirty two thousand and making this up, pat, what you know the answer to these questions or you could go get the answers. And you have now got to get serious to say, i've got to take care of myself and I can't even take care of myself on ten to fifteen thousand dollars. So go get up the next level or the two or three runs up the latter and in the horse industry. And if you can't do that, get into some other type of thing.

You thin about all that. Just go to work for forty hours our fix, and go twenty hours a week and throw boxes right now, twenty twenty five dollars an hour and go make ten thousand dollars right quick and hand IT to your dad.

Okay, now.

stripper OK, that be great. Yeah, a faial stripper. It's it's a novel idea. So motives he's .

got the clothing. I know, I guess he's got the chaps.

You're killing me here.

I know he did IT this kids. Not serious? No, not a serious answer to what we just think.

I know why your parents are angry with you kind of getting the understanding that well, i'll just go by a stripper. Oh, brother, that's not even funny, really. I mean, it's just weird.

Okay, so go, go get a job, honey, and make you some money. That's the answer to your question. All right, open phones at triple, eight, eight, two, five, five, two, two, five. Eli is with us in rock ford 的 illinoi。 Hey eli, what's out .

my day?

How you guys do and Better than I deserve?

What's up on? awesome. So I have to say first one, as one introduced me to you a while back, and we live completely that free mortgage and everything, and you have our full famous like it's so thank you so much for that.

I'm proud of you. Way to go.

Yeah um but the question is, so my husband's job is relocating us for the next two to four years, and there is potential that we will continue to relocate every two to four years until he retires twelve years. Uh, the house that we are in right now, IT is paid off, but we're in an area that really never increased with the market.

So is completely only going to go for one hundred and fifty thousand the houses in the market that were moving to are gonna more than that three to four hundred thousand other range. And that is going to mean that we would have to go back in the debt if you choose to buy a house. Um the job does provide a three thousand thousand a month died um in increase in his wages as well as over time.

So all that together makes IT worth to move OK. So we're going to trying to spend the next felt years maximizing what we're doing to get to a good botton I remember, but they ve ve got to say i've done the beans and right once already. I don't want to live in a being department. So should we buy a house or should we rent when we're moving every two to four years.

probably in most markets you're gonna be renting. Here's how you can do the equation. okay? Asked the real estate agent to run some numbers in a five, ten mile radius of of neighborhood you're looking in in the new city. Here's the number where you want.

I want to know in the last three years what the average rate of appreciation is, how much your house is going up? Two percent? No percent, ten percent? okay.

The second number I want to know is called the O M. Average days on the market. okay. And those numbers will run together. okay? Here's what little sound like if you hear us z or a two percent, you might hear two hundred seventy days average on the market. That means it's not gonna up in value is going to be hard to sell that neighborhood you rent in. If IT says we're going up ten percent a year for two years or three years or four years and the average days on the market 7 or you're going to make some money and you can get out of the house。 If you get those two statistics, they'll tell you mathematically whether it's worth buying or not, but you don't want to slow market and you don't want to non appreciating market, you're going to lose money on a two year or three year horizon.

For free tools and resources to help you reach your home goals, go to ramsey solutions dot com slash real estate, or click the link in the shown notes.

What does the future hold for business? Ask nine experts and you'll get ten different answers. Economic growth or a recession, business taxes will go up or down A I will help us work replace, but there's no such thing as a Christal ball.

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Can common ramsey personality is my cohosh today? Thank you for joining us america. The ramsey show question of the day is brought to you by y refine.

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comes from hadden in wisconsin. The n felt draft is coming to my city next year, and I know house close to work will all be held. People, my neighbor d rinning.

Their houses out during that time for uppers of ten thousand dollars, have an opportunity to make enough money to make a huge deal in my credit card debt on twenty seven and ninety five thousand ology year. And I have about thirty thousand and debt and have been working hard to get out a baby. Step two, IT is my step dads dream to attend an na fell draft.

So he in my mom have already assumed they can stay in my house for free. My heart is telling me that the money doesn't matter, and I will pay off this debt without this opportunity. But friends are telling me that i'm foolished for not telling them no and renting the house out.

What would you do in this situation? I'll take what I would do. I tell mom and dad what's going on and go. I'm written this house out and he is going to massively change my situation. I would love you to stay in any other other time of for any other situation.

My house is your house, but I hope you understand and and hope you guys get a hotel and maybe it's thirty minutes out. I hope you finds out that. But I would actually tell me and dad, i'm writing IT out for the ten Green won't .

even blink lately .

and I the only thing .

i'm wondering what some of this wording is if you have absolutely already decided before they asked that you were gonna this yes. K's answer is correct. If they asked and then you thought, um you know I could back, could probably do to great starting again.

You know it's like, but I I buy in large. Yes, just tell them they're going to have to say somewhere else. And IT doesn't doesn't crush his dream. If you want to go in elder f, go in alter f, it's really not it's not that big deal. And and I can't believe people are paying that well.

we had the interfere draft your national, I think, was three years ago. And I took my boys down, my friends with several guys, and I felt network, and they showed my boy's, the red carper. I got to go hind the scenes.

But David IT was unbelievable. But people, people, ten dollars for the weekend.

I don't know what the was. I tell you that the streets were absolutely, and IT has become a massive of that believe that was in canada city. And we're talking hundreds and hundreds of thousands of people were on the street, the broadway, a national, the main road on actual draft. I IT is a massive thing.

So it's kind of like a golf term. Well, well, no.

that's not true because I F, L itll in Green back the Green now.

So now be a real shortage of housing and that's why they're where they're everybody.

A gust of George .

is a little town and it's a one time yeah you're gonna get hage can .

be driven in agree, or stay thirty forty .

five minutes that's why he can be driven. And by the way, where are you going on hidden? No, you're not go on the draft. You're live in town, I guess uh, and going to be this for the weekend. I don't know what you're doing here and don't go blow the ten grand.

Ah I love that he wants to knock this data. Love this idea. And if you can get a windfall of cash because of that.

that's awesome. I mean, camel is in shant. Lewis. Hi, camel, how are you?

Hi, how are you today? I'm welcome to the blessing. Then i'm just, I feel like you look, press to my silk for finances and .

thank you for me.

Blush her. how? Yes, my baby brother, bless my on my heart.

He goes sign on a vehicle with my father. And unfortunate our father passed away. Oh no. Um yeah, he was my best friend. Um the regal loan amount for the car was over fifty five thousand, so there's been no payments in his death.

And my brother say, well, when I SAT down at finding, they say, with anything happen at that, IT would be, hey, I said they lie. You didn't read the fine print. And children not to do this, no one is so forth.

A set to company sent him something, the nail, saying that they release the lean for a settle amount of eighty four hundred dollars. But i'm reluctant because I like all these people, even legit. How do I like? What do I what do I tell him to do?

Yeah um there's a tiny possibility that these people, while they were ripping your father and your brother off with his car loan, that they put credit life insurance on this loan, that if your dad died, the life insurance would pay off the loan. These are the type and bother. My credit life insurance is ridiculously expensive, a horrible product.

Never buy IT. But I GTA feeling these are the type of people would sell that to your dad and your brother, because they sound like people that are easy mark for a con. And so.

Your brother might have heard them, right? They might have said, there's this credit life right here will pay off alone. So I want first, I want you to investigate with the linder whether there was credit life insurance on the loan.

That's the first thing you do call the the Linda. You ask them that or you have your brother do that, they won't talk to you because not your name is not on IT. And then if IT if IT is not and he can set up for eighty four hundred dollars, sounds like a bargain. And worse.

the car it's in his suggestion, is literally right outside the house as part he started once in a while. He scared to drive that in case he gets pull over against him. He says, I have no way of getting IT out. So it's literally just sitting there and confused to why .

has an me too. They probably you don't know .

what that is so does not have a these new single tracking .

devices like but no, I mean sounds like like they are not hunt and down too hard if you can settle fifty five thousand or dead for eighty four hundred, we want to do that. What he would do is call them and get, uh, he want to get proof that they are the holder of the loan.

Who is a settlement company? Are they the actual personnel should be negotiating with? And are they, do they have the titles to the car? Are they, you send me proof of the debt. And if he gets proof of the debt and scrape together eighty four hundred dollars and gets fifty five thousand or a car for that, that's gonna be .

bad OK OK. But I hata feel.

and he's got credit life on this thing.

So if you did so, why would they even want eighty four hundred?

Because, because they didn't look at IT. They didn't have. They have. But because incomplete .

OK OK create, like all looking at all those things you mention. Thank you so much.

Thank you. Don't appreciate your column. Wow, the cold shining thing.

People always do this as if everything's gone to work out perfectly in cash, haven't lived long enough. I got a clue for you. Nothing ever works out perfectly.

Nothing goes exactly like it's supposed to go ever. And um cosine ing, i've done that and i've had people look for me and is stupid. It's just done.

It's even in the bible that is done. Proverb seventeen eighteen s as one lacking and since cosign for another god just said, you're lacking and sense. That's pretty strong.

Yeah no single room there. yeah. So don't cosine you get in situations like this is a bizarre one right here.

But you who coscia and thinks the person's going die, that's one going. But IT happens obviously. And a man, what a deal.

What a deal. So do not cosine and do not buy credit life. Don't buy, don't take out alone of this type period. But for sure, credit life insurance somewhere around two hundred times more expensive than term life insurance.

They've really quick. What would be a default answer to a family member, a friend, who comes you and said, will you code because it's a tough for emotional situation. What would you say then? But also keep that common sense.

I would say I can't do that because if the bank is not willing to do the loan, then there's all kinds of problems that are gonna en and I would never want to be crossways with you and you're not paying something and I have to pay IT would cause me to end up being crossed, says with you and I value our relationship .

more than that as .

textbook no.

All that to say, no.

no, this is the ramsey show.

This show is sponsored by Better help. This month is all about gratitude, and most of us have people in our lives who are grateful for. One of those people for me is the great to honor.

Well, thomson, he taught me to be a dad, a husband, a professional and had a baLance caring for a bunch of people all the same time. We all know if somebody else we can be grateful for, but there's one person that we often don't take time to think ourselves. We don't always acknowledge that we're surviving that were moving forward and that we're working towards a Better life and Better relationships.

And in a world where everything's gone bonkers, it's not always easy. So here's my reminder to thank the people that you love, thank the people in your life, and thank you. Sometimes we need some professional help to talk to somebody, train to help us discover true gratitude for ourselves and others, especially in the holiday season. That's why I recommend Better help, Better help.

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Kin coleman rams y personality and board by selling author that the paycheck to purpose is my cohosh today. Open phones to triple eight, eight, two, five, five, two, two, five shards in orlando. O, I share. How are you hi.

good.

How are you Better than I deserve? What's up?

So um i'll keep the question shorts and then I give you the background uh, basic play opened a new business about two, three months ago. I am not really getting any sales. I'm doing a standard advertising to i'm selling on amazon right now, doing advertising for them uh social media um like a friend's family to try to get the word out and i'm still not getting anything. I'm wondering, is there something that I should be doing more? When would be the time to say this is a failed business idea and to just uh stop and take my .

authors what what are you selling um so .

specifically right now it's it's a clothing brand and right now, starting with formal dresses for breeding, I am actually the only one that sells that. There is no one else that sells that, which makes a very the more um faculty understand why there no sales.

Can I take a step? I think guy, but I have three kids. I just don't think a lot of women that are in the breast feeding stage are going to formal events and therefore, there's not a lot of demand.

So for my ah for my personal experience of the reason I um I came up with this idea because I had a very hard time finding this and talking to a lot of people in in sort of the community foreign family, they seem seem to be a demand. There seem to be people that women that are interested.

Have you done any research to go .

what's market hoda?

Who's the wall mart of those type of dresses? And if there isn't one, we now have a starting to get a clue that who is the dominant player or two in that particular wardrobe sector.

Did you develop the product or you selling someone else's product? No.

I developed the product. There is no one else that sells products that I seven.

Okay, alright. Are the short answer to your question is a wonderful book and you want to pick you up by doctor Henry cloud called necessary endings, okay o and the the way we ascertain whether to end anything, a relationship, a job, a an employee in their job with working for you, close a business move a turn IT out, is when we lose hope that there is an actual way to success.

When we've tried everything and we do not, we cannot see a way to success. We can see our way to success. So let me give you a weird example.

There's nothing to do with your question. okay? Uh, a lady is married to a guy who has an alcohol problem.

He's been in and out of the rehab three times. SHE loses hope that he's ever gonna quit drinking. SHE doesn't see a way to success so SHE ends their marriage. You follow me.

And so you've tried if once you've tried everything that you know how to do to get this product out and it's not it's not selling, then then yes, we declare that a miss. We declared that a failed business. And IT doesn't mean you are a failure.

IT means that idea didn't work. And i'm i've been running ramsey solutions for thirty two years. And the number of ideas that we have launched that didn't work are too numerous to count.

We have sucked. We have sucked so many times. Just unbelievable. Okay, now you guys, you guys all know us for the things were successful at, but we have tried and failed at so many things. So this is this might be just one of those things your heart told you this was going to work.

But your but but your statement of there is an actual demand for this product has not the marketplace is not telling you that if you are getting the message to ladies that are best feeding and they are not buying this dress, then if if you're actually targeting them with your marketing and you're getting the message to them, the message is in front of them on facebook, which in front of them on amazon feet or linked in or whatever is you're doing, however, you're getting the message to them and they're not buying IT, then the marketplaces telling you there's not much demand as your heart thought there was. And this is the end of the program. Now you might say, okay, I think I could do this for this.

Okay, good. Then try those two things. And if you still don't get IT moving, then you you don't want to get delusional and just go, i'm going to keep going no matter what no, no others. Sometimes the market places looking at you and say.

and you missed IT. no. agree. Before you launch a quick little lesson to anybody out, it's worth doing research to see who's in the space that you want to be in and how many are in the space, who's winning, why are they winning? And those are just basic things that you want to look and do so that you don't get into something that your hearts totally engaged, but you didn't do the headwork. And that's the logical research to see if there is a market supply, demand is economics want to want. If there is no demand, then there's not a supply of customers is the way you want to look at that.

And then the other thing is if you're starting something like that with the way she's is song in on amazon, um you know that's a distribution methodology. So just just by a very, very small run, agree ah and set up a manufacturer that can turn them real fast if you get a bunch of orders, but don't don't fill up your basement with something there's not proven um and don't spend a bunch of money on a credit card to run the marketing with some amazon marketing programme crap. Okay, use real cash to pay for your marketing.

And when you sell address or two, you can reinvest that cash and back into some more inventory and some more and do this is a sad hustle. Don't go all in on something that you've not proven, but it's proven when people actually give you money for IT. I was in a meeting this morning here at ramsey and they were, you know, the leadership team was presenting me with this this thing, this prototype thing we've been working on and they are like all the customers are just eating IT up and how how much money we collect IT on IT. And so we have had gone to that stage yet. And I said, oh, so you figure out .

we can give IT away.

right, right? Next stages. Can we get money for IT? Oh, there's that.

H and we will find out .

if rap real OK, because it's real when you people give you money for. We've seen .

what people do IT. And when the chair leaders, Cameron, with free t shirt, is like the handing out gold bullion, yeah, grown adults are act and crazy for anything free. It's a very good point.

You very and you know if you if you thought you had a demand, you you gotta prove IT by collecting money from the customer, that that's that's your social proof that the product is is doable and is gonna sense. Lx hinton, kentucky. Y elsa on the line, high cussy. What's up?

Hi, hi. Are you doing Better .

than I deserve?

How can I help? But I was going because I wanted to know when in OK time would be for my husband and I to start trying to have a baby animal stable.

Now, right now.

right now, that's what i'm saying. But he wants to pay off the house.

No.

that we have. No.

no day.

Would you be more clear .

with her now you need to have babies you need to .

have right now after the call?

No, right now.

Thank you.

Now seriously, the the thing is people have this thing in their head because the media has told them that children are so expensive, they're not that expensive. The first couple of years you buy some formula and die person had to pay the pedestrian sports payment, but they're other than that. After that, I start eating your food and stuff, and they're really there.

Really not. This idea that you have to somehow be wealthy to raise children is absolutely Anthony. Poor people have raised lots of children and functional ones too.

They learned to work, they learn to clean house, they learn to be good kids. And so, no, no, no, no, no, no, no, no, they are not. Those two things are not connected.

Same thing was getting married. You already get married. Get married as long as you're both on the same team and your agreement about what we're going to with money, it's time to get married.

okay? We're going to get out of that. You don't have to get out of that before you get married out. We don't tell people that never have in thirty years on this show, and we don't tell people do not have babies.

S, now I would say the reception, the exception that would be okay, you you for much behind on your house. And he hasn't worked in two years. Well, that's yeah okay.

Now we got to fix some stuff or an crisis mode, but I have to pay off my home before her babies. No, not from this show. We never said that.

No, he's going to be thrilled with that answer. He's to love his love. This is the razi show.

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It's the ramsey show where we help people build wealth, the work that they love, and create actual amazing relationships. Open phones are triple, eight, eight, two, five, five, two, two, five. Can kelman ramsey personality ty, number one, best selling author of the book, paycheck to purpose and oh to the kin coleman, so he's my cohosh today. Melda is whether melda is in spokane. Hi MeLinda, how are you?

Hi i'm talking well, thank you.

他 开玩笑 i .

am my question is about a day and um inherent ance we on our property we I call her my mother in love um seventy um put uh A D U manufactured home on our property and we number and SHE wants to leave that home to my daughters and Young adult daughters eventually。 And IT has A D M V title and looking until he wanted to just be a very simple probe avoiding kind of a thing. So if we is, he adds the girl's means to the title. I just want to make sure that there is no unintended consequences which he loves her homeward er's exemption. Is there any way um to adding means to the title ahead of time?

I don't know because I don't know the law in the state of washington and that's what you'd need to find out. You won't not worried about the insurance but because this is a dmv title um a department of motor vehicles titles more like uh a car or dealing with title than we are a house. And so um and car titles are sometimes dramatically different from state to state as to how they handled what I would what I would tell you to investigate with the D M V is um is is there a mechanism there in the state of washington that allows A P O D paid on death is what that stands for.

And so you could put IT, you could put IT is almost like a beneficial a policy that can you put that upon death? This transfers too your daughter um automatically and and IT may be IT may be for instance, some states allow you to do that on a bank account that is simple savings account. Your bank can have A P O D on IT a paid on death to someone and IT goes directly to them.

Then it's not a an issue of the wheel or appropriate at that point. The but I mean, the mechanical services is that there shouldn't be any tax issues. Does SHE owed money on the property, on on on the mobile home?

No, it's paid and for OK.

that's good. What's .

confusing to me is that um I never spoke in in idaho. If SHE pays property tax from the same you know he gets the same kind of a tax feel that we do for our home. So he pays .

a personal property tax on IT because SHE doesn't owned the dirt under IT.

right? You do. yes. okay.

So she's not paying property tax. There might be a personal property tax on on a mobile home in that area. That wouldn't be unusual at all. But SHE does not get SHE does not get a real estate because he didn't .

own any .

real estate right now. Can I interfere in your situation?

Yes.

don't do this.

Okay.

your grown daughters are going to own a mobile home sitting on dirt. You on this is gona cause a conflict.

okay? SHE needs to .

leave IT to you because I sit on your own property and then you're gona promise her you're gona leave everything to your kids and so whatever wealth this represents will ultimately go to your kids. But it's gonna OK. I mean, your daughters came doing things with IT is .

sitting on your land exactly? Yeah and and I think what I appreciate about what you're saying is we are in a situation where everybody is so amic ball and if there's no concept right now that IT is wouldn't open up opportunity. Yeah but let's .

say your daughter wants to sell this thing. Okay, now she's got a hook up to IT and hall IT some learn salad or SHE or she's gona come to you and want to pace a dirt under IT given to her and then you're gonna a next door neighbor. There's nothing do with anything because your daughter wanted take this money and go by or whatever and everybody y's still happy and amicable but is just really awkward. Your your begging you're begging for conflict in this.

That's so interesting. I love hearing outside perspective on that.

Yeah it's up to you. You all do whatever you won do and I think you're mother smother and law swooshing by and SHE trying to a sweet thing here but I personally wouldn't do that um and if I were your mother in law I wouldn't do IT because I don't want to cause potential trouble between my grandbaby and and their parents you know I want to keep this thing clean the cleaning ss of IT .

is a big deal yeah I agree. I just think whatever it's worth, i'd sell IT then just keep the money and eventually put I just keep IT super simple.

Well, or if he does do that, go ahead and have an agreement with your daughter that immediately upon modern love's death SHE just gonna OK up to the thing and salad. I don't get rid of IT turn IT in the money and you take that money. And that was a blessing from my grandmother and that's good. But we're not gone to leave IT there and rent IT sitting on having a rino property in a mobile home next door to you ma. Land that you not just starting to get wouldn't be on their land .

if IT wasn't the mother exact. They don't want IT there when she's gone.

exactly. I mean, in less more the daughters moved in to IT. But then you've now we we've continue it's just those you went up being in a collar on the show later, i'm afraid open phones, triple, eight, two, five, five, two, two, five jacks and hi j, what's up?

They have good and set me on.

Certainly.

how can we help? So I just want to get some guidance more than I recently got married about two years ago. Um we're doing the budget in a month, a month every dollar we're doing great.

Uh, it's just it's harder for her sometimes to cut back and have been doing that a little bit before. We got me some a little bit more used to IT, and i'm a little little less materialistic. I don't really spend the money on myself stuff. No, no, no. okay.

The reason is he feels .

like she's having to cut .

back to there's no vision in this at meaning the two of you need to agree that we were trying to get somewhere with the management of this money and whatever that somewhere is, we want to save up money to buy a house. We want to get out of debt. We want to do this or we want do that.

You need to have something big that you're both agreed to a why? Why are we doing this right now? The only why is you put on a budget that don't work, right? If he agrees with the why, SHE will want to sacrifice to get to the why.

And you won't have to talk to her about IT. I'm a spender, but it's easy for me to cut when I have a good reason because i'm going on somewhere. This is the msy show. I've been doing this show for over thirty years, and some of the ad 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 it's terrible air people that call in and their spell s has passed away suddenly and they don't have life insurance when you have to think through how I going to pay my bills in the middle .

of yeah in the middle of that grief .

like it's just IT is it's terrible to life insurance is 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 sander 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.

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Get up to thirty percent off best sellers and life changing gifts that won't break the holiday budget. Grancy solutions that come slice store. Can golden ramsey personality is my cohosh today? Julia is in toa oklahoman. Do you welcome the RAM? He said.

lady, um so my husson had a stroke a year ago and he hasn't been able to work. And I had to quit also to be able to care for him. And so we've gone through savings this last year.

And and for a meet point now I need to dip into our four one k and I don't know whether I should just do like a three months chunk, should I do a six month chunk. And he probably will not be going back to work and maybe hopefully six months, maybe a year down the road. Um I don't know. I didn't know what financially I should do about that.

sorry. How old is he?

Well, he'll be fifty in january.

wow. 嗯， what a devastating thing. I'm so certain.

Ly, he was definitely are the bread winner of the family. So IT has .

been, I am. Wow, so sorry. Well, what what we always want to do is to get what's gonna get us to sustainability.

And sustainability is not going to come from draining the four one. K, it's gna come from york, someone creating an indeed there. So what were you making at your old job before?

Maybe ten thousand a year.

Oh, you weren't working much.

No, no, I was um I mostly was pretty taking care of the kids. I have a college age daughter, a high school or and an middle school year. And so I just kind of worked here, there. Well, I worked to offer stop around their sound of people.

What was he magin? And what did he do?

He was a computer programming, is a singer software computer programmer, and made well over one hundred thousand. 嗯。

And what you are konya ying, in six months, twelve monthly. What are the doctors telling you about his recovery?

Well, we just got put for disability, so they definitely see that he's not to be going back in time soon. He feels like he he keeps saying that he would like to go back, and he'll say three months or six months, I don't know um I mean we would love for him to help to go back in six months but how .

long ago was the stroke? Almost a year ago. How does this he progressing as far as as healing goes?

Um so he's still paralyzed on one side of his body. He has a little bit of movement in one of his leg. His one ARM doesn't have movement yet. He mentally he's there. He has um difficult to getting things that like he can't type on the type writer he can talk a typewriter that's so old a computer and so he has talked like he can check email, he can't respond. It's just not there yet um he has been able to do a few little things like he has picked up his phone sometimes have been able to take okay.

um if you were at work all day, can care for himself.

No, no, no. I have to be with him at at with several couple hours. He has to go the afternoon, have to help them. So how much the.

how much the disability?

Thirty five hundred dollars 的， 嗯嗯。

what does IT take for you all to survive monthly?

I have cut back as much as I possibly can. And you know, like sector eight thousand a month.

okay.

Um but we just got to put this is our for last month was our first a check that we were able to get from those security. And so this next this month .

will be the second one OK. So so what where is the eight thousand going helping with you got a huge house payment.

Um no we have um thirteen hundred dollars of the house statement. I have a car payment.

How much?

Four hundred and thirty? 哼。 Food and kids enters um you know internet .

okay？ Um now none of that I excepted thousand dollars.

Well, we have.

I got seventeen hundred plus food, and the kids don't get expenses. Their dad had a stroke.

I know I have a daughter .

in .

college. So .

what's the tuition? Monthly .

tuition? Actually, we just got IT approved for fast, gave us a not fast. The government gave her enough to cover this much the this semesters tuition. So i'm not out any more money now we had to prove a interesting .

in and then we're not a eight thousand dollars because SHE gets a job while she's in school to cover her expenses as SHE living at home.

No.

no, she's in an apartment SHE had at work all summer.

Yeah, she's gonna to self support. She's gona have to have self support.

SHE didn't have a choice.

You have a choice. That's where you are. okay? Because here's the thing. Alright, you've guys i've got to get your in your outgo within your income because otherwise you're going to burn through for a one k and then you don't have a plan and .

there's nothing .

you can do that. okay. So um we've got to do something to get in comes coming in in addition to the disability. I don't know what that is or how that is.

Yeah going to ask quick what what kind what kind of work did you do before jill?

You I am so I have a psychology degree, okay? And I was an office energy OK great great answer .

because i'm just going to see this quickly. Yes, you have to be anchored at home um but IT sounds like to me you could put in a pretty good day there with some slight eruptions. Remote work right now .

we have physical therapy, speech therapy, occupational therapy that I take into um I probably .

could do you a desperate situation, want to be very sensitive to this, but this is where friends and family come in. You are the bread winner now. And so we ve got to have friends and family that we rely on if and maybe the kids, one of the kids can drive, and then we gotta .

figure this out to.

you can be making twenty to twenty five dollars an hour in a remote situation. Doing off the same kind of work you did is an office manager, organizational in nature. You could be A A remote assistant. I want to do the research on the type work you can do because I think you will be surprised that kind of income you can make and you have .

to make that right now. He's not going to be doing coding anytime soon. The guy you described .

to me now he he tells .

me he is but the guy you described is not he came sent on the name mail or by not yeah I hope is I hope he heals, I hope the therapy kicks in but i'm saying if this takes twelve um and and you're three thousand coming in with disability and eight thousand going out, that's a five thousand not a burn, right? You see what i'm doing that doesn't work. You gotta get the burn right down and get the incomes up a little bit.

I don't need to be you want to make hundred thousand hours year, but you've got ta get to survival level mathematically where you're breaking even. And when you do that, then if you need to take a little later for a one k for one little short period of time, fine. But do you want to just burn and burn and burn and burn and burn this for a one k because you didn't make those other two adjustments? No, you do not.

No, no, you do not. That's not going to be at the end of a ten year discussion on this. Where are you? You don't want to have done that.

Um you can but you don't want to you you want you want to begin to make the life adjustments to the finances to the math that fit with this tragedy that you guys are going through. And you got a tough sled here. Girl, yeah, i'm sorry.

Um and yeah friends and family helping your church, helping people coming around you put their arms around you and helping with different things. And IT can be financially helping big and also be taking in the speech there because so you can work that week, that day. IT can be something like that.

Seventeen year old can step in and do some of that too. But you can't just be the provider to two grown girls anymore. You do not have that option, at least for the next twelve months. IT doesn't sound like sounds like they're going to have very limited lives, and that's gonna part of their story when they're thirty. That when I was seventeen, my dad had a stroke is part of her story.

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Uh, all the rampy personalities who got Steve encourage pan committee and trade Kennedy who are paying to make fun of me apparently dina Carter, man show, hang from the food channel, celebrity chef. All these folks are going to be with the weak book your cabin today at ramsey solutions, not come slice. Creigh got just a moment before they are all going, boys and girls, justice and demand IOS, hi Justin, how are you here?

I'm doing great day. Thanks for taking my call.

What's up?

Well, yeah, i'm my grandfather, six, so not not quite up to your level yet day but not I M 开始 okay good。 Well I have a two of them actually have graduated high school within the last three years and um you know I gave him a book. I gave me your total money make over book when they graduated as a graduation gift.

And can I described in there are some things that I learned from the book is that I found really interesting and really helpful through life. Just basically, winning with money makes life effect of a lot these year. And i'm now at the point where I actually have a little of more money and we'd like to give him to him now rather than wait until you know i'm dead and gone and try to help them pay down on some the death that they do have.

Um they do have a both and have car loans. One of them have some credit card debt. And what I don't want to do is become an enabler.

I don't want to be grand p will give me two, three thousand dollars a year if I could ask him um you know it's just right now. I'm working now. I'd like to sit him up to succeed and I thought maybe of opening A R R A forum and putting a little bit to that in there.

But I do know they have this dead out there. And um your principles would pay pay down the debt first. So wanted to keep your thoughts.

The best gift you can give them is um for them to follow your financial example. That's a bigger gift than money you can give someone who miss the house with money, money and IT will leave. Obviously you give someone knowledge um and they're always have money.

So if I were in your shoes, I would tie the gift to a behavior that I want. So um you know i'm gonna willing to give you a gift of up to x number of dollars. You shed two thousand and three thousand .

right you about .

and we want to give you a three thousand other gift. And the way i'm going to do IT, is that a match on you paying down your dead on your car? So if you paid down your car by three thousand dollars, i'll put another three thousand with that will knock six off your car. If you paid down your car nothing other than paid the monthly payment, i'm gna give you nothing.

Alright, get.

That's what I would do. No.

that's great. No, I was sticking to something more on that line. I just what I hate is I don't want them to come that you know thanksgiving is you always say when it's not alone but no.

no.

no think I don't yeah I don't want something to me again about about paying .

down my death this time just .

anything I like you and you know I .

would wrap this, you know, like a cup of coffee and and a discussion. And so here I know that if I, if I give a man of this, he is for a day. If I teach him to fish, he eats for .

a lifetime to you.

yeah. And this is me talking to my grandson, you, i'm telling him that. And so what I want to do, your grandpa, because I love you more than life itself, is I want to make sure you learn some of the principles that will cause you to become very successful, not because I lecture you, but if you learn those things, you're gna make a lot of money.

And one of those is getting out of debt. And so what i'm going to do, I want to help you get your car paid off. And what i'm going to offer you is, if you want to pay extra on your car, every time you pay extra on your car, i'll pay extra that same amount you just send me.

The receive up should IT right into the bank and and up, up to three thousand dollars, because I want to teach you to get out of dead. And that's why i'm doing this hand because I, livia, and this is, this is, this is wisdom. And i'm not gonna tell you about IT.

If you don't do IT, i'm just won't send any money. I'm not to send you any money anyway. I send IT to your bank.

I love that idea.

Yeah yeah. But just captured in in a loving teacher cup of coffee, right?

yeah. I think I try. And I would also say model IT and you set IT best. They watch IT. So instead of sitting them down at thanksgiving and Christmas and being the grandfather that's teaching in harping, they're not ready for IT. And you know the old phrase, when the student is ready, the teacher appears that kind of true.

But in this case, you don't know, i'd be talking in earshot so they can hear you talking about your investments. And you know, it's one of those deals. I do that with my kids on certain things.

I talk to my friends about certain things that I want them to hear you. And so i'm not telling him this. I'm gone only you know, I thought about this other talk about the election in politics of my house. One of my kids doesn't doesn't see things the way I see things.

And we've never know. We've never had an ill .

word about IT. Oh, no, right? You know, I do. I'll talk about things in earshot and then they know what I think and i'm not telling them what to think. They know what I think and i've never said down and said, you've got to think this way. You got this.

But they know and I think the same thing what David, I think modeling the way and let them see IT and it's a part of everything that they come in contact with you if they'll pick IT up and they mean not agree with that at first. But I just think that, that truth, which is what we teach, is I think the best model on finance. So that would be the approach that .

I would take as the grandfather. And more racial is more is caught than taught yeah and that's a great line. That's a good line from their book, smart money, smart kids that SHE and added about teaching kids how to handle money. I mean, I think about that with my grandpa. Yeah, my grandpa rmc was, I mean, he he saved every penny there you pull the nail, the board, you just nail out.

You pull in off you, you yeah.

And he he had the garden out there and we go work the garden and was because that's why we get vegetables. They're Better to start with, but they're also cheaper. And so um you know everything you know everything was the lesson built into everything.

And he was had cost count along right and always drove his car, and always money in the back, always in great shape, very conservative. And but I, I was A, I, I was a cool dude. So I won't bought a jack war and make an always money in real state.

I went, bought a jawa that I couldn't afford, and I hooed up in the yard down there with a jack or, and he comes at you because what is that? So grandpa, drag war. He goes, really, he is what I cost.

I told me, goes, my 招呼， awful. It's a find. One, find some mobiles, other.

He goes, yeah, what I car be worth in ten years and I said, why probably worth, you know and he should as but it's it's a great investment. He goes hunting. My investments go up.

That's great. Yeah, this is such a classic way of confronting that.

Just ask questions, right? My investment up, right? You know that a thirty five years ago that story happened and I can see IT and feel IT right now it's fresh so that that the power rap up, you can be careful with that. That's right.

You get the opportunity to kind of say things that or do things that they're sick of their parents, soon they'll up with you. Yeah, just a little .

extra kind of .

so model, talk about IT all the time. Everybody.

not to them. No, I and and he had more money.

Oh yeah. Carried the back yard.

不是， i don't have two nickles around because about looking good. Yeah, what an idiot. This is a ramsa show.

Hey, if you're like me, this time of year feels bananas, thankful to giving just flies by, and then you blink in the kids out of school, of families in town, and somehow there's glitter everywhere. chaos. Let's face.

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You can send us emails on the APP so the rams in network up as a free download, there is no subscription, and you get all kinds behind the scenes, extra interviews, early access to things like we put the down trump interview on there the day before we put IT on everything else, that kind of stuff. And you get the third hour, the third segment of the show here, which comes up after we finish right now. So ramsey, network up.

It's a free download, of course, an apple and google play and all that. Be sure you go check IT out. A question there comes from ed, I have one million dollars in my four or one k but after I pay taxes, when I withdraw funds, I will only pocket about six hundred.

Am I still considered a four one k miloni? Yes, today your network, what you own, minus what you oh, equals over a million dollars. So yeah, are a million 业内人士。 That is the definition of millionaire.

And people say networks millionaire, well, that's redundant. It's like saying your car is blue, blue now it's just blue. That's IT. I mean that's IT, so that's the whole thing. So ah there is you know if you what you own minus what you are now IT doesn't mean that you won't have those taxes and IT doesn't mean that doesn't affect IT. But today you have a million dollars.

Now if you took IT out, you only has six hundred after paying taxes, then you wouldn't have a million dollars saying more of a child works like, wow, I was good to be the old Steve Martin thing. How to be a million air first, get a million dollars. How to be a million or not pay taxes first, get a million dollars.

Yeah, then don't pay taxes. That was a great comedy bit. Yeah, back from the seventies. Ah yeah that's IT though. And and the good news is this alt um you're using the rampy network APP.

So i'm guessing you're under eighty and i'm guessing this money is going to continue to grow and the net of taxes when you take IT out someday soon, you'll have more than a million dollars anyway. So it's it's a redone I mean, it's a question that really doesn't matter at this stage of the game. John is in vancouver, washington. Hi john. Welcome to the ramsey show.

I'm really glad to hear you guys as voice. I was worried that I did somebody who wouldn't understand this question OK. I got, I got night hunting equipment.

So a thermal scope nods, not observation device, helmets, a lasers. I got all the gadgets, but I owed twenty thousand on my car. I could get right around that if I sell that equipment, but i'm I really don't anna sell IT. I'm not going why about IT OK?

I have .

other what .

you hunting at night that are so amped .

up about this.

And I think in hawgs or something.

okay, I know I know something legal. I didn't wasn't going to cut your approaching, but okay, I see and you're in washington state. So you what your income so my base .

wage is ninety nine thousand right now on track for one hundred and fifty thousand.

Okay.

what's the car .

worth?

I believe it's worth like thirty two. Are you I like that multiple? Uh, no, i'm engaged, but okay, not marry yet.

IT really hasn't got anything to do with the fact that I empathy the equipment. I think it's I with that. okay.

The principle is, can you become debt free very, very quickly without selling this equipment or without selling this car? You're making one hundred and fifty. You're a single guy. You have one dead .

of twenty thousand ah yeah you .

you know what would you how much of your life style will you sacrifice to keep the hunting equipment, get the car paid off in three months?

Well, next the thing, i'm still going to work the same amount over time because my fAllen during and like crazy right now, I would likely make, I would likely make that in three months, three.

four. No, you make enough to pay the car off in three month. You told me that you make a hundred fifty degrees. You can pay the car off in three much and have absolutely no life during that three months and keep your stuff.

yeah.

So there's a thirty, a third thing we can sacrifice here. We can either sacrifice the hunting gear, we can sacrifice the car, or we can sacrifice the next three months of your life.

right?

I'm going with see the next three months of your life, keep your car and keep your hunting gear. But if it's going to take you three years to get out of date, we're sell in all your crap.

right?

But IT does not take you. The game changed.

And if the game changed and I lost my job, that self would go right out the door. I'm not worried about that. I'll just feel like I make enough, can not sell IT and then end up rebuying IT, if that makes sense.

Yeah, somebody tell you to sell IT idea.

Know if I took you a long time to get out of dead, I would sell IT, but I don't regardless of when you buy back later that crap. But the bottom line is you could do this really, really quick. And and while you're really tired from working all the time and your pissed because you can't go to eight and your girlfriends pst because you won't take her out to eight, you not doing nothing, begin a thinking car payoff in the next ninety days. I'm february. I want you're .

done right?

okay? You got no life if you won't do that. Yeah that's what I do.

That's what I personally would do because I don't think you the same time true of your car, you sell IT, you're going to get another one lighter sign stuff, right? So now the part of that also entails that you are right and and quit buying crap for hunting. You got enough right.

forever. I mean, you don't anything for a long time. The outfit you just describe the major world clash, right? yeah. Okay, here's the benefit.

When everyone he's mad at me, mad himself, he goes out late night shets kyo.

good deering or six up OK like a video game.

Yeah.

they don't have. I don't about bonding on those hides in washington. Do no, they thought we could make this.

这个 狗 just open season .

because the dad gun things are eaten .

and everything you would change your advice to rice and beans to live。

But yeah, some fun with this. But the principle is not the hunting year staff join. The principle is you quit buying things you can afford and you have been because you had a car debt, you shouted, been this invested in this hunting year, you order, you're meeting that.

And the principal is that you can pay all the stuff off very, very quickly by working like a crazy man. And that's what I would do. And then you're gona go into the marriage. Was zero debt and a well, a clipped, well equipped gn shape .

and so was slip the clipped lip.

I see lots of clipsed, lots of magazine. But the fun, that's fun. Yeah, I mean the same true with your boat, same true with your collection of coach purses, ladies, same true with whatever is were dating with.

I mean, what at what point to have sell off all the junk is? If we can't get out of that super quick without doing IT, then the junk has to go. You sell so much duplicate link their next. But dog on bay, the cat on crickling.

You said this for years, and I think you're right. The supplies here, if he were to sell all that equipment, fine. But IT doesn't really necessarily curve the behavior that this discipline will, and it's the quick fix doesn't really help stop the problem.

I got in there. Now if you got to go, do you have them? But work for nine next, next time. I'm not to because now, in a sense, we financed a bunch of hunting gear against the car. And once in a sense.

I think make the .

case that kind of what happened here. And so the way we're going to do that just go crazy for a short period time. See, none of the above that puts us out of the room shall win the.

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 razi network, right?

All you gotta do to finish the episode is search ramsey network in the APP store, google play store, or just click the link in the shower notes to download the APP or free. You heard me right for free, then right there in the home screen. You can watch the rest of today show about being bottle.

All right, i'm getting out of here. enjoy. We'll see on the APP.