Life on the headwaters of Ramsay solutions, broadcasting from a dollar car rental studios? It's that day, Ramsay matters dumb ages and paid off old mortgages taken the place of the Bmw status, symbol of joys I'm Day Ramsay your host? Thank you rejoining us. Open phones, AAA eight too, I five hundred and twenty two that's eight hundred and eighty eight eight hundred and twenty five five thousand two hundred and twenty five? Keith is weathers in Kansas, high Keith. Welcome that I've Ramsay show

CALL Dave my wife and I are working on babysit to just recently started. We don't have too much that but nothing is bothering me, is I had a student loan back in team. Eighty six, there was only one. Two thousand dollars, but I don't believe paid any money on it, every. Once in awhile, I get a letter in the mail from always a different collection agency on this- and they say that you know it's a loser- government, their education, whatever but it's it's never shown up on. My credit report, or anywhere else all I get- is occasional notice from a debt collector Is there any way to check on if this debt is still valid? Is it something I need to still worry about paid is still valid because there's not a statute of limitations on student

federally insured student loans survive forever until their pipe and so you know you could check with the department patient and see if they have a database search process I would call a copy of all three of your credit bureaus and see if those upon any of them and, of course, You don't find any that in the next time you do get a ladder then engage with those people, and again and get the arm get some detailed information and an audit the account, rather than just the general thing of you, always some money and here's how much I wouldn't know how you arrived at that figure, because I suspect it's gonna be a pretty substantial amene. That's a lot of interest here, we're talking about from the eightys to now and penalties. In other things that your brow after negotiate through

you're not gonna, go she threw the prince bore the interests the king is in Idaho High can welcome, but that I ran she shall I gave thanks are taken car sure what's on work and what would happen my partner and I are, we're in a weird conundrum, where I sold my and it's a ten year buyout I'll be getting about sixty two thousand dollars a year for the next ten years, Do you use that income or do we We're not really sure what to do with those sixty two thousand, if weird, we live on it. If we touch it will use it as part of our monthly income that make sense you got it live on. If you dont use it to live on right now he is his gross. Is a hundred and twenty, and I make around fifty thousand a year

what're you. Seventy live on, for you don't need the sixteen bag. So you could easily easily use to reinvest ride. I could be asked what what what else would you do with it? If you didn't do that, Well, we still have our mortgage payment, all that money, we two hundred and twenty thousand dollars Are you married. We're not married. No. Dark, combining assets and paying each others? when you're not married, you leave yourself very, very vulnerable to not only relationship issues but all kinds of potential financial and on our by she's. Always not gonna is not any, and that's not the point. Nobody gets married thing, it's gonna end, but it does sometimes

So anyway, you sold this business and you use this to pay off a house that you own together. You have no protect and what shall ever in some kind of worst case, weird scenario like, for instance, God forbid something happened to him. You would then be stock because you'd be doing with his heirs and you're, not his live in girlfriend is not on the list of players he hasn't will answer and if he has a well, they might come into our challenge that so marriage a whole lot of these things. And when you talk about sing a family. It usually involves legally blending the family, and that means you are legally married. So I highly recommend that by the way,

turn that that was the case. Then we would have a household income because our household would be legally one of hundred seventy plus sixty and so were to thirty, and I'm gonna use that household income to accomplish that households goes right up the baby steps, that free emergency fund, fifteen percent of your income going into retirement kids college above that get the house paid off, and so what that tells is the sixty and easily else I can find out of his previous. Seventy thousand dollars in a combined household, because you're married again, because that's the way the system works, otherwise you have a roommate technically and

You don't pay off your roommates car, you don't pay off your roommates house and that that's the situation you get into. So if you solve that, though, I would just walk out of the baby steps and sounds like you with a fabulous household income. You're gonna knock off that turned twenty thousand dollar house mortgage really really fast, very, very cool good for you, I think, for colony, in open phones triple eight. Eight, too far five, two to five, you jump and we'll talk about your life and your money. If you ve talked about selling your home before, you probably heard this from your know, it all neighbour the mark good and you have no problem showing Borgia neighbour telling you that it is not even a good real but that not even a real good real estate market can guarantee that your home will sell the fast and it'll sell for what it's worth

This factor that goes into you show your own for top dollar is not a hot real estate market, its inexperienced roasted agent that takes advantage of the market with good marketing. Proper pricing. Good negotiating. You'll, get done so not a monkey with licences and experienced person. Really really really knows there stuff. So you don't want to get a hundred per cent house price, and you want to sell it as fast as you possibly can. Residential, real estate, Personally I got my by twenty percent of people. It probably goes again, meaning that Ninety percent and ten percent of people. So we get the high octane high protein. Losing agents in your area high character people they do things I think the way we do when we met them and we make them- We then can recommend and your neighborhood as real estate,

endorsed local providers. Don't lose money, hiring an amateur! That's ridiculous should get yourself in trouble. Dave, Ramsay, DOT, com, sledge, edge, energy, Ramsay, DOT, com, a cloud click on e, o p, real estate and you'll get some help. They Ramsay chef. Dental insurances great if somebody else is paying for it, but if you're footing the bill, One dental dot com is a much better way for my listeners, one dental dot, TK.

Is a discount membership that gets you unlimited, lower rates at the dentist, not just for cleaning, but even dentures implants route. Canals braces and more whether you're getting a plan for yourself, your family or your business. One dental dot com is the way to go visit. Wonder untold dotcom today and learn how you can see the dentist on a budget. That's one dental dot com. Better use in check very welcome. Today, brambles, probably day things taken, my car should remember ever called outbreaks

program? I'm all nervous. How can I help and I got married, we My father in law set us up with a financial advisor to start opening our aid and we yes, as we got you this week at the end- tributed more, but we, we might have talked about in the beginning what to invest in, but since then, I, like I haven't even met with him in a few years. I just send in the check- and I get statements, but I don't know like where it's going to. I didn't know how much of it is that big deal or not. Just what people say right before they tell me the story when they lost everything,

Demand germinate your job is job is to advise you and teach you and then you make the decision, and so this is a lot of money just amount, just a throw overrun upon the corner and hope somebody else sweeps up some now you ve gotta get in there. What it is why it is review it. What it is, what is you can meet on the phone for thirty to forty five minutes a year and be fine once you establish what you want to invest in and that what you're investing in and it is that and what its doing and how its doing so, for instance, I buy and I have suggested for thirty years, you're on the radio that my personal for a one k does. The same thing is in four types of mutual funds evenly twenty five percent: each growth growth in income, aggressive growth in international.

And so what I would do, then, as I would open up my for a one case. Statement may be twice a year and I would hope- my irish statements, may be twice a year and see how that group of mutual funds is doing if they're down. I want to look and see. Is the overall stock market down well well. That would explain why the mutual funds are down if they're down stock markets having a record year up, I might have a problem. I might have some bomb funds right and so compare the funds to the other things in their space and though the market in the space that therein growth growth in income, aggressive growth in international and I say, they're there, so I'm not going to compare the international to U Dot S stock growth compared to international stocks and see how it's doing and the way that categories the weaker of the forward, so you need to understand what

on is invested in why it's invested there and how much doing each year in comparison to other things in that category, do not put money in things. You don't understand, because your father in law should the useless guy they might be an okay guy, but he hasn't done a very good job, because his job is to make sure you understand what you're investing in his job is to be a teacher, not a salesman. And so he hasn't done a good job of that, because we're I your advisor, I'm not in that business, I would have demanded you understand around won't go forward because that you don't wake up in the middle and I'd after you heard some new story about the economy going down wondering if you If your money is going to be lost by that crooked financial advisor, does not his fault? It's your fault! You don't know what the flip your money is in sole,

and learn. What's Goin on learn how to learn about it, you're not to become an expert and is not a pressure in Yemen naming evil or horrible, but you ve just been a lazy in intellectually lazy, and so you and your husband they do this. Clean meet with his person and tell them the expectation going forward. Is that you understand that their job is to make sure you understand what you're investing in and how its doing relative to other things in its category each six months to a year, and if we can't stay on that plan, we need to get a different adviser. If he's arrogant and says you needed just do it gives us a do it then fires but you're not worth nothing, because his job is to have the heart of a teacher, not the heart of a salesman and that's how we pick our smart vesture prose We endorse and are smart, Mr Program, I'm not in the business, but I'm not gonna door, some one and another that heart of a teacher the doesn't come forward

make sure that our listener knows what their money is going into, don't money and stuff. You don't understand the Good NEWS. Is that no longer understand what you're doing it's not rocket science? You don't have to have a phd in economics to figure this out, not that complicated, but they can show you how mutual funds work, how to pick a good one based on track record. All I can stuff So thanks for the call open, phones, a triple eight eight to five five two to five Tom is whether Tom is in order. Hey Tom? How are you. How are you doing, what's up my wife- and I ve been far your programme for about four or five months now and as you know, during the pan off debt stuff, then we ve paid off a considerable amount at the end of this month. It'll be about ten thousand forward.

We stayed off and I have a couple of credit. Bad debt collector accounts on my credit report that I tried to get a but I can't seem to get hold of him. I don't know what to do. I don't have to contact them. There's been no correspondence for probably three or four years from these two. What our that buggers medical bills on for a hundred and nineteen dollars to know the other ones for four hundred and nine Do you have any idea who the original medical provider was think so? But I'm not certain. And so I thought, if I were to call the original provider, they probably wouldn't get any information other than that they have already turned it over to collection, probably right, but I get Martin about in serbian regime to check and then, if you don't catch the check and clear my dad, I'm gonna sue you. Yeah. We've we've been just you know, we've been doing your beans and rice

and I really do thou intends to get the stuff paid off what I just said and yeah and so I just do what I just said. What I just said was you ve got to activate somebody and get this mess cleaned up, and if they can't get you to a collector and help you get. This cleared Let them know I'm going to mail, you a one hundred and nineteen dollars check, because I don't owe a collector. I owe you and if you don't clear that that thing off of credit bureau, I'm going to sue you yeah. I don't want that stuff on there, I'm gonna get everybody paid off, I wanna be set free. I don't want any tat collectors anymore. I just I want it to your own track. Man you're fired up, and given it that's what you got it you're right when you call hospital x- and you say how you four and twenty hours from eight years ago there- what that is, you know but and help me get the collector cuz. I need to get paid

very well still accounts. They lose so much money that stuff over to after and then I never thought about again but inside you push somebody to answer the phone here and Be- I am agent for or the owner of this debt, and I, except this amount and the debt will be shown, is cleared. And then they need to report that, to the credit bureau it up and then you can dispute. If I don't want, you have proof that the debt is paid, you can dispute the entry on the credit bureau in the whole thing be removed. If nobody responds somebody responds, what you want and you can solve the whole thing. Thanks for the call open phones, a triple eight, eight to five five, two to five Deva mom baby step for our work for the government, where they take out just over twelve percent. For my pension, you recommend saving fifteen percent on top of that, for it

now, but I wouldn't count the whole twelve either, because your living control over it knowing trawler how it does take the money out everything else. They control everything account and a Tory pension contributions at about fifty percent towards the fifteen percent. Countless about six. R7 or something like that, of and then do another somewhere else, and that's the way I look at it amen. Thank you for joy. This is the Dave. Ramsey show Let me

a story about two families that are very much alike and a lot of ways. Both families have to working parents, and a cup of young gives each as dead in a struggle to make ends meet but they're, starting to make headway with their budgets and smarter decisions with money. They have dreams and plans and the only real differences that one family as the right amount of term life insurance and the other doesn't big difference. If one of the parents die- and that does happen, their well being would be destroyed. That's why, every day I talk relentlessly about getting term life, insurance, gotta, sander, not com or call eight hundred three five, six, forty to eighty two

in the lobby, Ramsay solutions on the dead, breeze stage. Annual answer are where the cigars now are you I Dave. How are you better than I deserve where you go, live weight even Pennsylvania, go good to have you welcome and how Doubt of your pride off, we ve paid off about two hundred thousand dollars. Very good about fourteen months. And your range of income. During that time we started about forty, forty three thousand, and we ended up about seventy five thousand came. That was the two hundred we had a car credit. Its personal loans, a cell phone we

of withdrawn and our account and we sold our house on process. I was thinking number so that show how much of the two hundred? What did your home bring when you shall we sold? about a hundred and forty thousand ok, so you know cash flowing about sixty thousand in addition to that during the fourteen months, making forty three percent Are you still on these right? That's right, but why we did so her car and we got about fourteen thousand dollars for that. Okay, We also sold anything in sight. Wasn't bolted down. We solid show. Where are you living? If you show your house, we started think we moved into a little place more n. I saw it was about fifteen minutes outside his work with a lot closer further.

Ok, we moved into town little bed yet answering closer to work and then a renting and that got rid of the house mortgage and also the equity, was freed up by off a bunch of these. That's very good Well, we actually didn't have any equity. When we sold the house made the right a little check for eighty five dollars and fourteen cents wow. Okay, so close to home or get it getting out of that mass and getting closer to work with a good reason, rent for a while, yet I was able also pick up several part time jobs. When I get move closed, my because we were in the city area more so resembling work all the time I come home first job. I need a little bit kiss my kids good night and I go right back to work all the best paying our term job. You will I sighed jobs. I could get I'm a contractor. So aside, job like it was the best by most the money came from working in the cart an analysis of the door dash, ok, very good.

What happened that such you, two on fire like this fourteen months ago- well, armed smallest, child was about to be born, and I was on the phone with my brother's trying to do a figure explained the him my fires is on how I was balance everything off and make it all happen, but I mean he told me I should listen to Dave Ramsey related to Gordon. What Any longer don't listen to you because you have this great plan on get now to debt and get more lives in order, so I did and uninviting products off the I was skeptical and I wanted to research into use. I want you to channel good for you. I would be too. I found your book. Youtube, overseen the toll money make over, and I listened to that- and I came

I told my wife that I think we should give this guy a shot. I think we should try this and then the next breath I say we should sell your car okay, so but what happened later on the major actually decide. That was a good idea, Sarah other than that those presentation which sought to well to see in the situation we ran we're just weird scraping by. We knew we needed to change our lives and it was either do it or don't and its jumped on board in just went for it while, while good for you guys were to go so what are you tell people now that you did all of their? She saw the car you shoulda house watch. Secret to getting out of them. I tell people that serious get now that there's only two things you need to do. You need the want to do it and then, if you want you just got to listen to Dave Ramsey,

It do everything you say everything he says no answer, but we are also implied use your very gun good for who are your biggest cheerleader Trina song. It's funny he's not really on the program It is for the kids The reason I would go out and work, the big motivator I'm with you to do your that free scream, absolutely right. Let's introduce them, what are their names and their ages and we ve done Leah she six years old, our eye. We have an error here, three result can be ranked Gabriel he's.

Ten months now, our I wanna go gave our I'd. Here we go good job. You guys were proud of your well done. How's, it feel is just relieving. We can sleep at night. It's peace and eyeing spend time with a garage. Now you grow, career and save up and buy a house again and this time do it differently. Everything exchange, you guys were very proud of. You want to go. He wrote great job Gabriel and paid off and fourteen months selling their home for one, forty, seven, the car for fourteen and others. Working extra- three to seventy five thousand dollars. Were the income counted down? Let's era for each group, three, two one one

boy to go, you guys way to go well done well done one of the beauties of the debt free scream is it comes from people all walks of life, all backgrounds, all incomes, all kinds of different levels of sacrifice to get. There are different incomes to on how their able to address this, and these guys are absolutely fine. They did a wonderful job and they change their family tree and that's what they want day when he went out there and pay a price and worked and work and work. You know if you work like no one else later. You can work like no one else. If you live like no one else later, you can live and give like. No one else. The Bible says there is no discipline that seems pleasant at the time, but it yields a harvest of righteousness, changes. Everything when you

The plan in your intentional and you execute whatever the area of your life is money certainly were were highlighting here dad that reduction for highlighting here with this whole idea, Of the debt free scream, so why to go? You guys were very, very proud of your excellent excellent job James, As you grabbed my wife and our own baby step three and looking forward before five and six venetian up our emergency phone look afford to investing in college and offer house. How much do you think is reasonable to say for college kids are one in five. While James people do this two different ways and both are ok when your baby step five four is fifteen percent of your income going in return above that we say, address kids college.

Sometimes people will just get an account started in a hundred bucks a month or somethin per kid. Get a mutual funds started to say: ok, we touch would check the box would got something. Go we're building the college muscle a little bit. Move on with any other money and get the house paid off with a paid off house from the kids go to school you're, really in a position most of the time to help cash flow are even please pay for college out of your cash flow. If you got a house paid for by the sword out, people go at that other times people have some lump sums coming and bonuses and other things in the college is a big deal to them, and so they reach over a baby steps five after their pudding, fifteen percent of their income in for retirement and they reach over babysit violent, but big chunks, and there like ten thousand a year per kid for two or three years, and his younger kids. Aren't you load that ten grand a year into a good five, twenty nine growing tax free in good growth, stock, mutual funds,

twenty thirty thousand dollars aside young as they aren't gonna ro2 enough to send them to school for the time they get there, chart all of that out with your smartvestor pro figure that out, but at a time when they get the house right off or you can attack it with a vengeance. The whole college thing behind you and move on either one's fine with us. This Ramsey show. Should I proverbs thirteen for the soul of the sluggard craves and gets nothing

Is richly supplied, Theodore Roosevelt the best prize that life offers is the work hard at work worth doing. True, from Indus dignity. Tremendous satisfaction in being tired from actually having worked hard, so good thing You know you can be something sillies are aroused located. Barely old enough to reach the end of the the bar on the poor? lawnmower, meaning the handle reached To an adult now was the logo standing in front of the metal, but I felt like the grass cuz my dad drugged me along while he was doing it. And issued always. You know this is maybe a I think maybe it's a redneck thing, I don't know, but we had our stand out in the street and look at the finished yard after everything's, edged and raked and trail.

And the end of March was we did not less right, the whole thing- and I wished Take a moment just say: hey job well done something as simple as that, I think, is why, like the pressure wash because it just, you can see that you're making progress and you're tired when you're done. At least I am amazed. So you know it doesn't matter. What is it can be? Something really simple like that, or it can be something very lofty and big and Terry Antonis broke for Friday to the Entreleadership master series on family business, some brand new curriculum, successful transitioning family businesses and successfully operating family businesses on the data that we found as we ve research that and interviewed hundreds and hundreds of companies that do a great job and we personally walked in at our selves

our family coming into Ramsay solution, since we shared all that I was on stage all day on Friday and when I got home I was tired, us speaking, will speaking I knew especially if you're, half exciting and you're, not asleep yourself right I was. I was a line done then awhile and spoke the entire day and allow usually do couple hours, erika, browsers, Anthon, but That was a long when those fine brand new material in addressing me to teach it and for them to hear it is tiring. Is that life offers is the chance work hard at work worth doing Thirteen forces, the soul of the sluggard craves and gets nothing while the soul of a diligent is richly supplied. The diligent prosper, diligences excellence overtime

The excellent for a moment are, you can be not excellent over time, but if your excellent overtime, that's what we would call diligence and the diligent people prosper. That's what the Bible says. And so that means that if you are more diligent than someone else, have prospered more than someone else, and that is fair. It's just Fair did so and so makes more than seven. So, yes, it is completely fair, I'm not as pretty or a smart and haven't worked many hours as some other people that are prettier than me, smile than me

and I has worked more hours and I haven't they have more than I have as a result, and I'm not mad at them about that and a bunch of union to stop your dad gum jealous envious, stuff self outer, where you're jealous of her by oftener envious of her by also stood tearing down success. Once you get your button, gearing go, be one. Instead of trying to tear down everybody else, the diligent prosper the soul of the sluggard sluggard. That's just such a good word. The sluggard. Other words we don't using worldviews, walked up some of your sluggard. I've had people at work here that were sluggards earning more. The soul of a sluggard craves and gets nothing. And you know if you sit on your but an you yeah

in all other reality shows memorized, and you know every single thing about every sports team, play on any of them and none of them pay you in you're, not any good at your job, The new demand, because your entitled to a fair wage you're not entitled and nothing torp, you're sluggard, save him better than torp sluggard. I'm going to get stuck on that one is in Vermont carbon. How are you a good day? Think forget them. Call appreciate all that you and your team gale my wife and I we have rent a house. Baby steps

what we speak- Spanish, a little over I'm selling it looking for your opinion on it. Does your house moment Eighty seven, a monk, ok, and what is your take on pay? Sixty five thousand you take on pay is five is six hours a month now inside one thousand and forty four, I'm sorry I got that those numbers don't go together. Your monthly take home pay advise bags after two short by thousands of one hundred private. Ok, that's ok shook it, and so your house payment is twenty percent of your take homepage involvement and we say don't be over twenty five percent.

How much is your car payment don't have? One and how many children there too. How long you been married, We have been married for six years, two thousand eight hundred and twenty nine The only thing I hear missing in this equation: the should not be a tight budget with what you just described. You should have all conservationists by five thousand four hundred miles Less than one thousand dollars nine hundred and eighty seven house payment should leave you four thousand four hundred dollars for lights, water, food and taking care of a couple kids that should not be outlined in Vermont. Show. You're, probably not our written plan. Our taxes, earth hundred a year

I built into that house payment now. It's ok, so that's another five hundred dollars on the House payment and how much is your insurance. Sixty three year, ok and shall of the six hundred bucks to your house payment. Now he got real house payment shows, steam hundred, I went out on a fifty four now approaching. Twenty five percent actually touch over two point. Five percent so but it's still not house poor house. If your house payment, including taxes and insurance, was fifty percent- and I remember that all the time and you can't breathe when you do that or forty percent, you can't breathe when you do that in your case that be locker, almost a three thousand our house payment still I'm going to make the case that you're probably not doing your written plan, because budget get on every dollar dot com and download. The app is free to use, takes about Timorously your budget out go over with your spouse. The two

have you decided what you're going to tell everydollar what to do before the month begins give every dollar an assignment before the month begins, and then you stick to that and it'll. Take you about three cycles about three months to get it out in your first module suck at it. Second much below better third month. You be an export, takes a little bit of time, when you get that dialed in you're. Going to call me back and go being on a budget makes me feel like I got a raise because the efficient, as usual. The money makes you feel like you've gotten a lift, because you did get a lift. You can do this dude. Oppose this hour that IRAN's showing the Berkshire thanks to James Childs, our producer coming Daniel Vikings lots of them back with you before you know it in the meantime, remember, there's ultimately only one way to financial base and thus to walk daily with the prince of peace. Crises

This is James Charles producer of the Dave Ramsey Show. Did you know you can now listen to the Dave, Ramsey Show on Pandora and Spotify for all the ways to watch and listen to check out our show page that daveramsey dot com show make more money doing what you love. Checkout, Christy, Wright's business, boutique podcast

firing on and quivering women to become successful, running your own business ham, Christie right and I help women all over the country, take their ideas and passions and Hobbes and turn them into profitable business. If you have an idea in your head or dreaming your heart and you ve ever wondered if you could make money doing it, I'm here to help join us on the business duty had cast where we are equipping women to make money doing what they laugh hear more from the remedy network, including Christie, Roger Boutros, Boutros POD gashed. Wherever you listened Abad, gush, hey, it's producer of the Dave Ramsey Show