From the headquarters of William visually broadcasting from the dollar hormonal studios Day, rams we'd, better, stop just kick off old mortgages taken the place of the Bmw as those tat, a simple choice: I've day, Remsen euros. Thank you for joining us, open phones, Tripoli, fifty five thousand two hundred and twenty five s. Eight hundred and eighty eight eight hundred and twenty five five thousand two hundred and twenty five,

Tracy is starting off this, our trace, rather in Florida High, our you have done today, our you better I deserve what's up. No. I've got over half a million dollars in debt, including my business that I'm really scared. I dont know. If I need to filed for bankruptcy,

or if this is something I can pull myself out. As I don't know, it's gone out of control and I got stupid. So I need to figure out what my next move is out. I'm I'm twenty five you married. Yes, you children, no, no, no children showed Tommy what kind of death the five hundred thousand ok, so I've got charge that totals about three hundred thousand. I've got to company pickup trucks, those equal about. Seventy five thousand, actually wonder Scott. We possess. Yesterday morning, in the middle of the night, I've got acquainted that totals do about ninety five. I've got accounts like four parts and stuff, but he was too about fifty thousand, but that's it

loans for twenty six thousand medical builds for about six hundred three hundred dollars, and my miscellaneous staff is about forty five hundred, which includes you know some old upon his attract a trainer. Those three hundred grand. Now that it's it's don't traps that I've got I've got for trucks. Here in the year in the earth. Moving businessmen. Yeah. I do love you site, work and idk thing, and all that good stuff and your business income is just not been enough to support all this. Now I mean leave grossed close to a billion, but each one point that about one point: three already we got cheated on a job actually coup jobs, the same guy tuna July, and outline the properties and

a month ago, after investigation suit of some kind of this hoping I get paid and so on, but you know the extra money aside from Ghana, Spanish, being stupid in obeying equipment at an early stage at about their own investigations? Noughts kind of combating the bite in the bud an underscore the staircase at all, in order to show how good you start, this there'll be five years and they re she's do about your first truck or whatever on that, when you're twenty years now itself is making only twenty years. What was the first thing you bought? It was adopted

cut it out, but it don't charcoal and material stuff like that from then on, I started getting into other sculpture work by equipment and on what will the equipment shelf worthy shoulder the trot? Well, I'm pretty upside down days, like the charts, for example, of young financed. It's what I call a gangster members. Get out there so much interest item that I tat. I could sell them in and get back nearly one. I have to pay them off for an that's. The scary part as well sure what was your best year of net profit. Last year the lesser motion there are brought in about this We have a hundred thousand off of alcohol

may in May and half gross last year it was about four hundred is so and then I took that money was stupid and spend it on small. Now, instead of spending and pay off other dead. Well, I mean there's two possible while three possible scenarios want. Is that use goat? Simply get enough work lined up to pay these bills and begin to play down the death and you get started you get squared round on this. You sound awfully hopeless on that possibility. Just talking to you, I don't have any idea how much work you can gather in and Well, but if you can bring based on what you're telling me, if you can bring in

Six or eight hour thousand are grossly thank. You can begin to not only pay the bills but begin to reduce the debt gradually, in which case you're, not raindrop arrogance. A temper we had adopted them was leading the asphalt plant in debt is going up and get a bridge go on, sixty five on our industry, the trucks or luckily but he was hurt, but it costs me almost twenty thousand out of my pocket just to clean up the accident. So why insurance, We got us. You didn't have an assurance to clean up the accident now I'd idea, but I had appeared a pocket additionally until the insurance region with any cost you It took cash while and then you got the money back from the insurance company, ride some that was not a negative event that that was a break even there, and you got rid of the truck

yeah, and they re dropped. You gotta get different insurance. He took me about a mile, or so we couldn't even duty and not just like. Maybe about a month ago, we really started to go again behind on everything I was up and put in Pittsburgh. Work come of a lot of. It doesn't begin until the new year spent time. A little bit far out some I'm busy time keep busy small stuff wandered away. How can one way you can turn the corner, and I dont know if you're gonna make it without bankruptcy, bankruptcy, Nano, sawder, prom, leisure, nourishment, walk away when you just throw em all the keys, shine bankruptcy papers and walk away. That's what that would do and then your basically an unemployed twenty five year old that drives dunker up there and you start again that that's an order ok. My second thing you can do is you can prioritize and say hi? What is them

the important thing that I need money for that's food for you and your wife. The second motion thanks, that's lights and water at your house. What's the next most important, they pay the rent or the paymaster payment at the house we take our own home, far soldiers and basic things you can make enough to do that. Many pass that their much prioritizing say art which of these vehicles. Do we really need to fight to keep? and the other ones we're gonna try to sell, but they may re poem but the ones. To keep the ones we buy the payments on once we don't fight to cape, we can't pay em and there either taken or we're gonna get him sold or some emanation thereof and show you know you could just say. I'm gonna pick dumptruck these to dump traction this one. Of equipment and that's what I want to come out of this work, and I want to keep all of that current and I'm gonna find my way through and if I can spread

claw and make enough to pay the other stuff I'm going to take her so, first poor son of Equipment second, and the other Ones the thing to do. If we can do them and you protection Marriage, Sir the stuff? Take your marriage, allow it, which I have read your picture virtues my guest I recall the other day and I thought it was worth talking about again. It was from a wife looking for life insurance for her family. She asked why I only recommend term life insurance system of cash value plans like whole life. I use explain how you over pay for coverage, earn a horrible right of interest and don't get your cash value when you die. But this time I just had to go straight disaster dot com and get a rate, and then we compare that right to the whole life plan and she immediately saw the huge savings. That's why

I suggest that everyone, gotta zander dot com or call them at eight hundred three five, six, four to eighty two and get a free quote, Frances, is losing California typewritten such go. How are you Great gave a manner to the UN the publicly. Thank you you to surf. How can I help I had better were unique situation. I purchased a home for mobile home and in an area where they actually not at that I can tell you that they at least keep upward with inflation,

and I know that the land under the my but the mobile home, doesn't load land under it, the land it is from that there have been a very, very desirable a city yeah rent the rent area might be very desirable, but ok go ahead. But in any hope that more mobile home I purchased was not financial. So I took out unsecured debt to purchase the home. I have about fifty thousand across three different mouth. We paid off about thirty thousand so far and

using the that fella just a gradually getting at it. One loan is twenty two thousand and two for thirteen thousand, and one for four thousand at the rate, were paying off. We're gonna be done with it in two years. Good, ok,. My question is having the thousand dollars from baby step. One has been great: we haven't used the crow art, and I don't even know how long cut him up best thing over we ever did. But at what point I wonder, should I stop? debate is that three, when you're, through with any up to now that the home debt, with all the dead at home that so we,

But you didn't hurt mobile home that, wherever you want to put it so small which household income seven b a year and a zombie debt for into which is very normal for someone working the Dutch Noble right home and then point we would on the mobile home here and I mean- and so, if you want to make this baby step, six you'd make it babyship six. If you want to, I don't care, because it your home, but it sounds like such smile, such a small amount of debt and there in such small anchor and you're gonna be done in two years. I wouldn't, I just call it baby step to an honest treaty like his credit card dead cause. It is ok. And go about it that way you have to be met Why, on another thing I want you to consider, is I don't think this is. Good long term plan-

where's from now you're, not Araby, glad you been living in a mobile home for ten years, I don't care if you're, in an area where the real estate prices are masking the fact, you are living in a mobile home of the Red bears so cheap and we will be able to favour to buy a home cash, that's one, albeit small, at ten years, but as a ten year plan, and this is not a ten year plan. If it's for years in your dreams, shaven like crazy and pay cash for home at some point or put a substantial, payment on a home, traditional built home. It's gonna go up in value in the traditional way. That's true, but you know there are mobile homes and Malibu that sell for a million dollars, but the mobile home is in what sorry for me in dollars. The fact that is sitting on Darth and Malibu the dirt is what for that- and so it is that there are the real estate. That's in and around this mobile home is masking the fact that it is

deteriorating down in value, and it's not a good long term play now. Instead of doing read your college or short term ply: that's ok, it's a little more expensive than alike, but that that's an evil Can justify that way? But don't don't get us up in your head? This is a smart twenty years, game plan or tenure game plan. It's not. I wouldn't do it long long term. Thank for the cop Gabriel is with US and Ohio. I Gabriel, how are you. Gabriel get her, you, God, how can I help going over our retirement with me, Nor do I know that our question is: is it hence in part of the fifteen percent. Are you contributing and the pension He said. He'd have to remove them, We had a mandatory pension contributions of how much about three hundred dollars on the page? I thought on this score.

In this, I don't know a lot about it. I'm sorry, you have email What percentage of his pay is? The Esta contribute, I doubt- somewhat he's contributing as a minimum and he makes about thirteen hundred a check and its three hundred a producer of natural. Yeah? That's why? I didn't really seem like the right amount to me. The Simpsons really really high, even for a mandatory contributions. I'd look into it and learn about it and I would put it, and who it is. I can now here's the problem of pension. You have absolutely no control over it. And when you die, you get nothing. Ok, when you put money in or for a one, can you totally control the investment? You can move it. If it's a bad investment you can take it in or out if you have to or want to and when you die the money still there for your family, and so I dont count pensions in the same way.

A towards the fifteen percent in baby step. For that I would be cause you don't have control. For them and because, when you die, there's nothing there shall. If you want account like so he's putting ten percent of his income in there. Okay, if you wanna, counting like half of that, torches They represent the he should be putting in that's fine, but I won counted like dollar four dollars. I make sense to you yet: that's all so give it some weight, but I wouldn't give it a hundred cents on the dollar. Wait when I'm calculating does I want you, to be putting enough money. In that you control and you have a say over that you retire with dignity, more controlling own destiny. Here, that's a game plan. All right. Arizona calling Tory is whether Sartori Area they are you doing I deserve what's up than ok so just recently got into all your videos and pod happening by guy we're trying to get out her diary. Foamy got married back in March and back in August purchases

from our enlarged for three thousand dollars come to find out yesterday that it has about seven thousand dollars worth of work to do to our people, and I know knowledge? No one, though there's no, you can't do that national worked or three thousand our car we're talking about it's Sunday, generously, kind of one of the nicer sundays. Yes, well, I won't do it, I'm not that's really good would come. But I know, there's a bunch of broken parts and we took a christian brothers which is their local animal can maintain, They sat here, that's really true to their word, so we know they're not like porn our teeth or anything. They actually show you videos I'll actual tell you the ogre who it is any bicycles he's been seven thousand dollars on three. Does not our cars, a moron yeah? I now saw it and without that fifteen months of its labour spell

I will just park. What am I going to sound like the blown and engine like so the steering wheel got stuck for we can move it pretty much like little things like it posed to the left so, but this does everything that makes it work properly like little cracks in it. So we just have to replace a bunch of well things, but they all add up to bigger things I will have the paper in front of me. I could read you exactly where you don't number one. I think this is a bad diagnosis. No, intelligent person would spend seven thousand dollars on the three thousand. Our car and you would do- is sell this card or junk yard for five four five bucks and Take the money, we're getting arrangement on repairs and go, buy you another three thousand motorcar yeah. Now that my question. Is that you don't have that kind of money saved up we're trying to get out of that. We have about four thousand left in get before this whole situation. We are planning, we,

planning on having to get a new car for at least a couple years, because we thought that Carlos than a laptop. So my question is this We do need that mode of transportation and because you don't have that money to be the repair or by a new car. We don't really know what to do in this situation. You of your thousand dollars lived here five thousand dollar car origin. A thousand dollars on that car and get it runnin enough. The law without doing about large with repairs to it. It's ass an eye to suggest in someone's, been seven thousand dollars on three thousand no

our question that I come from blinds dog com. There were one hundred percent satisfaction guarantee which has come. Maybe it's a different kind of guarantee, even if you screw up their motions, I can guarantee reserve they mess up in your nice has not been a view, miss measure the blinds and they come in. They don't fit or you manage the collars can't do it Wrong, color they'll remake your window Blanche free! You get free both free shipping and with a new path. Those they run all the time you ll save even more use the promo code Ramsay. Just seller of window plans on the internet, blinds dot com, great company, from Brian and Tennessee I'm working on my debts, noble.

I have everything lifted from the smallest debt to the largest, my largest debt. I stood alone of seventy four thousand years. Gently lifted last currently by the way student. This item as there are amounts that are smaller than some of the other credit card nets that I have. Should pay the stern loan off as a line item or traitor stood alone as a, the total sum you dont know: you're nuts, By category you do it by loans, and so if you're student loans are broken up into, many to four thousand dollar loans than you, The amount is twenty, two four thousand lunch- you dont list them by category now we have yet to car payments. Twenty thousand and ten thousand you listed as a thirty thousand dollar that you have a ten thousand our car and the toil of our car, and so you,

get out by the actual loans, not by the category reason for this is real, simple personal. Answers. Eighty percent behaviour, it's only. Three percent had knowledge, so we after manage behaviors. If you will, If you weren't managing behaviors, maybe behaviors. You want to go in a credit card that there's no one consciously shuts running out I think you'd be really smart. We twenty eight percent in death, paint twenty eight percent interest to buy an ice cream come you know, but stupid, but we do that stuff all the time right and so, but you don't you're not doing that with math skills you're doing that, because your behaviors RADA Control, and so You fix it. Whether behaviour fix not behaviour are not a math fix. You want to see the progress.

No sane human being we'll keep doing something which I can see absolutely no progress on. If you go to the, why and you work out five hours a day and you eating any food and you know lose any weight. You will go back to eating food and sitting on the couch. You have to see progress for your pain, won't, keep engaging in the pain you have to live. No one else so that later you can live, and you like, no one else, that's what this is about, so all that to say as I want you pay, the smallest and because I want just. Draw redline foolish and keep the give it up, Obama refrigerator should see all those red lines. All those are the progress, You made how you move little needle on this. It's a big difference. It makes a difference.

Our idea is with us in Texas, high youth and welcome to the driver, amnesia they're gonna, be here

sure, what's up on Twitter years old, I live in a temperature that paid off and get free. I'm doing the combination of baby said three b and step for. If I continue that it'll take me five years come under the cash down once and catch our house, the five to fifty percent of internal by re, who save for the house to take five years. That five years is a really long time. The camphor trailers sauce thinkin, taking my investments down like seven percent or eighty percent, and then that only take three years when he might like thirty two year before after taxes can save. Like a thousand dollars a month how'd, you show you a four hundred twenty nine. We do for limit of Roma families. Business will come in the flesh of restaurant gift. Shop can shop and make.

Chocolate. Rubens excellent Reuben sought his chief. How can you show more improve on landfill, probably how'd. You lay in place game plan. Were your thirty, two thousand or income becomes a hundred thirty two thousand, and that changes this equation? Doesn't it that's not gonna happen instantaneously, but We take you from thirty to forty two fifty to sixty to seventy to eighty over the next. Now, every six months you bump I understand and because you actually find the keys to the kingdom and run in this business etc. The wage always been run, which is creating a Sukhi income for you, then then we shall solve a lot of these problems because I want ya camper train or to that's a little weird yeah yeah

that might them exactly make you an eligible bachelor. I'm all right. Boys, railways, Camper thinks so yeah proof well, you know sometimes when people are doing babies to have three b for three years or less, they put nothing in baby step. For so that answers you require your original question but I walked round on the other side of the question and added income to this equation, which I think is a very Horton part of your discussion in your life, Jus projected all of this, a thirty two thousand and one that will let you live at thirty, two thousand, if five years now you're still making thirty two thousand. You need to go get a different career because it's not working out a great

yeah I've thought about you, don't be seventy four years old still sitting there shown daffy, making thirty two grand right. So we gotta figure out from online application. We gotta get The markets opened up. We gotta creation, de around this gives some social media moving start point stuff on Youtube on how you may candy and widely different watch cool about an air by what you recipe or by once, a piece of of but as you produce there, you become a site for the people. A visit when they come around that area and create some buzz and some star and wait we get some things moving around this business and that's what I see you do because Suddenly you buy a house than in two years for cash and its even a better house in your Plannin on right think about what it does your numbers. If you go from thirty two. Sixty yards like instantaneous, right, humming, changes everything concerned:

scan for about an expensive home. Your thing about a modest home. We could even go expensive if we got our income upshot I'm not saying that. I think it's some both I would three years or less stop the baby step for in order to save money, to pay cash for house or a down payment for our three years, lashes by Mr Three B meantime, during the three years, much really turn up the heat inside your brain on what we can do to get this business moving at a whole different, I am ass, an honour to talk to you merry Christmas. Thanks for colony in Europe, as willing to pay a price to women, always like help of evil like that. Many guys we live in a camera train or to get done. Such a garbage won't pay approached there's not Weiner right here. The sky she's ve, gotta, sleeves rolled up his punching stuff right make it happen. So I again thank you for your call. Merry Christmas to you.

Africa's on Twitter dive, die, attack, active debt and then work on the dead in collections are listed, smallest, two largest, no matter what neurons to debt snowballs when you have stuffing collections and when the first one is active clearer the debt you're actually paying payments on, and then, when you dead, free on the active then. You worked your smallest largest on your stuff, it's in collections and you do not payments on at you settle a lump sum. Two thousand dollar that they're your from five box or seven letter boxes, satellite lump sum in writing? No electoral. Text us your checking account on old collections, death there really, idea. This is that I Ramsay Shop,

when you talk to judge of work from other over him sure I did. I heard you say that we should be sending a twenty five percent of our own pay on mortgage interest payments every month. A good definition of what exactly counter take on pay we're after taxes? Ok, so I am having a defence employee, and so, if you have furs that comes out, do we just included That is a tax? Is that attack

optional later retirement plan, but they have to come out with you. I wouldn't counties like four per cent of our Czech yeah. I wouldn't count I wouldn't like. I would not count retirement I'm saying after you. Income, tax and state tax and payroll tax whatever via were you gotTA paid hall all that then that you're take homepage, Stop it his retirement, like I don't count, one k and that I don't count health insurance in that it's it's not. It's not Leir literally take home check, when you could count, if you want to cause you don't have it as an option. The point here is not that twenty five percent, you're gonna be rich, and if you do twenty seven percent you're gonna be bankrupt. That's not! The point is not like this: in others, a boiling point is to earn twelve degrades something The idea is down end up with a house payment, the leaves you know, making money at home. You know it good, but I dont be house poor and

You know you can't saved by your next car show. You end up with car payment, don't be house poor, she no safe, no say my for Christmas and then you end up putting Christmas. How stupid credit card You know and that's what happens when people end up with a house payment that forty percent of their take home pay, they can't breathe that's what I'm trying to avoid there. So you have you, they plus or minus fires of four percent or whatever that's fine, because it is man, It's not like you can adjust it for one. Can you could actually stop it technically, you could stop health insurance. I wouldn't tell you to do that, but what, if you had to pay your house payment, you can't stop. Cars should you could do plus or minus on that, but that's the whole caught. It's a concept it's not a year, a nuanced perfected formula or something. But it's not. You know

It is close enough that you don't want to be a thirty percent or that somehow you know you're, not The unusually bright to be a twenty percent resumption. Twenty five percent Why does work it? Should it should leave you room and almost any household budget to prosper there and that's the concept we're looking for, should just don't be house poor, good question for clarification, though just of thanks join us. Kate is weathers in Kansas. High Kate, Welcome Ramsay, show you to make sure uncle storm in question, my husband consider changing couriers, bad job that he live in called to do, but leaves are fairly juggling financially or do we care. Waded out for about two more years show all the kids are in school and then I can work. We know more hours per ten during the day see none of the above

you should find a career that he luxury makes more money This is a false dichotomy that representing life doesnt work Were you presented it the only so the way you can be happy is to work this one thing where he makes less our family struggles. That's just not the way things work, what does? What is it that he wants to do that? He loves even teacher he's a teacher. So am I here But I make more need of them. So there's a lot of ways to scan the cat. Is my point now the teacher. Now, what is it you want? That's what he wants to do is teach I'm sorry, that's left and what you doing now. That is what he that now at its current position, I would but he would switch careers to something that I hate that he hated Ryan

and I dont know you just don't know if we should pursue something that would make more money. Ah I see. Ok, I catch up. So the way, rather than doing something he hated me was gonna, go down in path to go down and pay to be happy. Ok, so ok! Well then- you know. What I would do is like a hooking up with, can combine and start asking him can common type questions which are. What is about teaching that he loves the kids somewhat. Is it the high? He gets, light bulb comes on top of someone's eyes. Most of us that are down over the top their head. You know like in the cartoons most of us their teachers. We are. We teach for that reason I stand in front of an audience so that I get to hear that audible thing Ruth? I hear them all get it when I'm covering something. You know I'm just through humor and sometimes just to restore your Sancho. Now Lou tears, sometimes just through something here on the air. But what is it this scratching his?

about teaching. I love to teach people, it's what I do have a gift of teaching my spiritual gifts and show- and I suspect, your husband, and I wasn't just being smart. I like about me, make it more, although I do, but The point is a lot of ways to teach other than a third great classroom at a public school, and I can't I can't make it your whatever I dont know what what do you know what he's making but there's nothing, nothing lacking indignantly about what he's doing That's fine, but what I start asking myself, what is it? It's that that's jabbing about what I'm doing an what setting could I do the same kind of thing and make more

because sometimes what you're doing is you're doing a good thing in the wrong place and that that can shift your whole set a career goals. But it's a different way of thinking through these things, and so you know the other that that's what you want to avoid. Hang on, I'm gonna have Kelly giving copy Atkins book. The proximity principle check out can coalmines materials and his his podcast he'll be a big help to your husband on this, but. Cereals and his his number four of the top five professions that we found among people who the. Everyday millionaires was teacher wasn't that they were some kind of weird teacher. Like me, I mean they're, classroom teachers. They just work, steady and very careful with their money. Chose the schools.

Don't worry I'll teach in wisely teacher beat doctor in the millionaire study as a probability to become a millionaire. Very interesting lawyer was number five. Doktor was number seven engineer, accountant, one in two. So that's what we found ten thousand millionaires shop. Folks, you gotta watch the way, the culture gives you a narrative on these career things like here's. Another narrative, the chief think about well, I want to do ministry, so I'm going to work for a non profit which pays me sixty percent of what I could make out a for profit.

Where am I to do that? Numbers unholy, and so I'm gonna take a pay cut, because I'm a more wholly than somebody that works for profit. Will. Let me help you were this: not for profits are not in the Bible, for profit is attacks designation by the IRS, a not for profit. That doesn't take in more than it spends closes all not for profits, make a profit on paper. They have to its aid tax, designation, not holiness designation. So you can decide to be an ministry one of them. Sharpest guys. I know a bone and joint in my area is a friend of mine. Asylum is weak in praise. Over every one of his patients before operates on their knees, a wealthy doctor. You know these guys

a wholly ministry that technically a not for profit, and he didn't take a pay cut to do. Then a holier than most a you, so here's the thing as where are you None make you howling and not for it is no more wholly than a for profit. You do what you do It should only there's I'll, never mindset with some of paradigm this is the diver amnesia hey. It's Kelly says you producer and funds paid over the neighbourhood seashell. If you would like to be your deputy scream, live on the show make sure you visit, Dave, Ramsay dot com flash, so it registered. We would love for you to come and National Intel Dave your story,

Looking for fun and practical ways to save money in your everyday life, you need to check out the Rachel crew, show a podcast from money, expert, Maidan, Rachel crews, guys its rights of creators, and I'm so excited to tell you about an ipod pass. A lot of you, darling, paychecks paycheck their end dad. You don't even know where to begin that they have this need. This wants to get in control of their money and, if that's you, you have come to the right starts. So each episode, jeering at a time of inspiration and practical advice, if not subscribe to the Rachel crucial podcast, makes region. Today there are more from the Ramsay network, including the Rachel crucial. Wherever you listened upon, gash hey, it's just. Producer of the Dave Ramsay show this