From the headquarters of lambs days on the Rental studios Day, why I'm the one that is not just in the Meda mortgage has taken the boys of the Bmw status, symbol of Choice day, Ramsay your home. This is your show. Thank you for joining this open phones. At four point, eight to five: five, two to five: that's triple eight, eight to five five to two

five Cameron is whether in Charleston South Carolina, I Cameron. How are you going somewhere, I can't leave home than about back into extreme. An equity and down. I was wondering if I should tell it so you need the money to pay off their debts, and then move closer to my mom, are you single ok, what's the house worth. From a lot of spoke to you about one, eighty, five for and what do you want? It One twenty four twenty five: from work as it. Little over now? Oh while why'd you do that. But what about the house? that was coming down the road I said. Ok, I might move just because of that. You know I mean I, I have seven minute commute.

An international softer line on our ways cup crazy. I mean that might be true and ally or something but he's not ruin Charleston. Drive from ones, either dead and place the other in an hour so. Yeah, I'm I'm problem just showing it just goes. Our live closer to work for one thing in the middle of doing that it gets me out of that too. That's just gravy on the biscuit how much debt of you got. Not counting the house, six thousand dollars style, no doubt at all. Ok, what do you make around forty hooker will you don't need a solid to get out of that? But you, I want to sell it to move closer to work. And while you're at it pay off all, but that you know emergency you and then put the rest of your down payment on new place or for a little while make sure this job work the job pretty stable Hitler. How old are you got twenty by

It's up to you, you do what you want to do, but you're spending two hours a day of your life driving You may well mean if you enjoy at or something that's go your way car to listen to your project will appreciate that you weren't a car out in european law domino. Will you button behind the wheel, but up to you you do. What you want to do, I personally, because I'm big on big long commutes. Personally, if the EU wants to do it out there you're welcome to do it, but I just I'm not I'm not going to let that use up the quality of my life that's not what I'm going so what you want, but if I woke up in your shoes are twenty five years, although single make an forty k, I would move your work that be my plan, thanks for the call Jessica is on the line and for Plain Indiana high Jessica. How are you. God area better than I deserve. What's up,

my husband and I have been living in her home for five years- animal buying on contracts from my own laws, but like To get a mortgage good, the end the issue. As we ve been, we did financial apiece university, hum like a yearning after all and working on babies that kill an undue feeling. How do I can assure you that a good idea for us to get a mortgage on this house, because I cannot There might be mine and what we can afford. It, ok while we are already on the house, we are studied complicated. To get a mortgage four hundred! Thirty thousand! Why, although the house is worse. I threw on twenty five May, they wanted to gas, paid off. Ok, but I want us to gas.

That guy I cannot give an anthem, cash and then down the road and were alike we're doing better financial aid. We can try to finance the other portion of the house now they're, not doing that. That's about you need to get off from ardor owing them money. You only know the money, so That leaves you a couple of options. One is borrow enough on this house to buy the house from them. Turnkey. Sod deals or. Walk, sell the house, you own the house: what is your balance owed on your contract? we are now signed, a contract for two hundred thousand, and we are one hundred and fifty on earth Why is it that they think they're? Do more than one fifty because one fifty occupy them off yeah because the house

When we buy when we came out of it contract five years ago the market by three hundred and twenty five thousand conquer, and we were able to the house that cause damage sound. They said Roger Carl owner, like your pay, us too Then men down the road like when you saw the house, you're gonna, how I saw hundred and twenty five out of whatever you got a person in the house, This is a really is a bad deal. This is at the time and I would wander irradiated attack. I can tell you when I went to deal to start with and I'm not gonna do this. Dear, that that they're gonna show what you from them is a price. That you buy the house for

tat. I would like, as you now have a contract. This has one fifty plus you all a hundred twenty five later warm ok which accord two to seventy five, that's the prior and you want to buy three and twenty five nor house for two. Seventy five and you won't live there. That's Then the question becomes: can you afforded to us and if our mortgage, if you can It's time to sell this house and leave yeah we tear me, I know my care and which are then Hey com is like forty. Six hundred you don't like it, you can. You can this will now so yeah you just anyhow, she can't afford that's what it amounts to and on their trying to do like a shared appreciation mortgage or something or do they get their money later and all that, and then want their money and

don't and then they want their money and then- and now this is just this- is gonna, go on its bad cousins, ambivalent, there's a moving target should the ability of to just call your alone, which is what I've done want you to go, get a hundred. Fifty thousand our mortgage, but still owe us later Now you know, sir, I think that I think it is time to admit that this was a bad deal and sell it and move the property? some that that's the deal, and that I think that's what I would do so up. Do you guys, but I think these people need their money now, if you're in house can afford The writing on the walnut system to admit it. So go get your rennell. Something expensive and get yourself there s way. Out of that save up! a down payment by your house without your unwashed pleased without you

This is that I rams Russia Chris. Haven't, affordable, incredible way to meet their overwhelming health care costs, its christian Healthcare ministries, the original health cost Sharing Ministry, a better Business Bureau, Accredited organization, C, H, M members share to pay each other's medical bills. It's not insurance, its Christians financially and spiritually, supporting each other. It's what c term is done for over thirty five years, learn more at C h, ministries, DOT, Org, that c h, ministries, DOT, Org, christian Healthcare Ministries is a proud sponsor of day. Ramsay live events.

Map renew your America Jacob, who were those in LOS Angeles, welcome other Ramsay show Jacob Dave our warriors better than others are my imports have a question about a leaf are, and what I should do end of this month will be making the last payment I'm looking through the options when I first, up the car I was thinking about defining, and so I didn't get very many miles a year. The same coma earthly grossly over on miles right now about eighteen thousand: oh Johnny, twenty five cents, a mile before five thousand dollars out of Pocket

worth thinking about buying it. So we have about twenty six thousand dollars in cash right now, the car, access by our price is about twenty four. A thousand dollars I can see it about twenty five. The Kelly Bluebook for private sale is somewhere between nineteen and twenty. I feel like I'm. We are working for a car. Now I really like the kind life love the cartoon bite off. I don't If want you, I don't like I'm unkind about decisions, I do by the car and thinking about selling it, but I haven't got very many bites on my God, oh trader, and in some of these marketplaces, so I don't know I think either when would be taken a loss. Well, I mean the value plus forty five hundred dollars is your ears is your threshold right. We're not gonna dollars is your mileage penalty and shows the value is nineteen Twenty four is a deal by five hundred bucks

the value, is twenty then you're in the whole of our but you're, not gonna deal on this car, twenty four, Yeah you're, not you're, not overpaying, five thousand dollars for Thelma. You might be paying overpaying five hundred dollars for it, you're over paying for it, but you're gonna give them four thousand five hundred dollars of eternity and correct. On the table right. So I guess what I would do is contact the dealership caught who holds the lease Jim financial contact them and see, if there's times only saying- and I always, but sometimes you can make offer at you know: Boob, look and they'll that cause they're gonna take the car and do what will it sell it? Odin rundown auction line and its gonna bring nineteen at the auction line, So, let's say brings its wholesale at that point: trade in values, what it's gonna bring if they wholesale it and they run Cars down optional lines, what they do with a mutually

So if they're gonna do that and they're gonna get aid and the equivalent of a trade in value for this, which might be seventeen and seventeen pleasure forty five hundred is less than the twenty four thousand trying to get out of you. So if you want to make that case to them, trade in value and column NGO. You know I would be willing to pay you more than trade in value, because that's all you're gonna get for it when I turned it into you, because I gotta give you forty five dollars anyway manufactured give me a forty five hundred on top a in value, which is, some twenty four. What would you take for achieving negotiate the price to that and then by that car? Are you gonna, keep their car and drive it? Yeah, ok, then you the cash to do it and that's what I would try to get the price down under twenty four: ok, I call them and demagogic, they want play ball, and then I called the dealership as if they were now by himself from left to try to keep a customer anything and like any of em, really want to do anything. But

I've until the end of the month, together at the end of next month. I figure it out if you ve already done what I told you to do that. Ok, you're ahead of me, the army, just gonna run or two at it. But here's the thing if you turn the Korean, and you bob Car identical to it you're gonna pay twice. I voted for the car, yes and you will have given them. Four thousand five hundred dollars. That's. Twenty four five show like this car, I'd pay, I'm going or for worse case here and keep it you got because you have the courage to do that. I don't want to. I want him to write it down, one that every every time they write it down under twenty four thousand makes this much more palatable if there, if the buy out on the thing was twenty seven I had on the keys if they were hard core because that's a three thousand our swing there but you're right at a break, even which mean they calculate this least perfectly that's what it means: ouch

Shall I don't usually do that by the way there they're pretty good at it? I don't usually lose money rather than this one there, the other so just keep mess and wear them save you can get him to cut it down your mark, thousand hours I'll take it. Somebody help me here. I'm just trying to save you. The trouble taken the car and run its course for them is just a job for you at your car. So who knows good luck with that about that? That's case. Then your situation on buying a car from before worst case. I hate it, but I would do that thanks for the call open, phones, eight hundred and eighty eight eight hundred and twenty five five thousand two hundred and twenty five the car fleets. We call it a fleece because you're being fleeced is the mode expensive way to operate an automobile. Every possible way, General motors on that deal is going to lose money. They have covered. If the mileage goes up, they make you eat it. If there's one in Tehran, the car that successive they make.

It if you, by the car, you're gonna pay freaking retail, for this car more then retail for this car in its eyes, whose condition. And that's what they walked in on the contract is closed and leaves you pay them. Payments up to the last payment, and then you but car or you the Czech uncover the mileage home but Europe, when you put all of those factors in there and you figure what the EMS r P on the car is. You can calculate out and figure out that their rate of return on the money they have used, while they let you read their car there, return on average on a car Felicia's about fourteen point, two percent. It's like financing a car. Fourteen percent. This is what is known as freaking, stupid, not that guy, but just everybody out there. Just for those of you colleagues, you called LISA Car stupid, it's the most

Spencer Wade, operate an automobile guys, numbers were classic case study other right there again picking on he'll on him, I mean, Those village to think this a smart, because not smart. Renting a car in any possibility! any loss by the man. Factual. This carrying the car fleece paper has been covered they got a doll in they did ten thousand. Just like you last year term, thousand just like you last year and they ve this dialogue and they know what this stinking cars will be worth. They know how much it's gonna go down in value Europe covering all the loss of value in your fleece payments. That's how this works there, not in this business, to lose money. They're not doing it illegal they're, not scamming, you is. Just the most expensive way to operate a car, the law- expensive white operate, a car is right:

check by it. And if you don't have a net worth of at least a million dollars don't be bought a new car. Let someone else like the buck kicking on that appreciation when you I have a car off the car lot that sound when you go over. The curb blood blimp was thousand bucks that's what the sounds lack is what five thousand our sounds like. When you're tired go over the curb. If you don't blame me, turn around the block later and take it back over those who have to take it back. That's where you find out what you just lost. A new car losers, sixty to seventy percent of its value in the next four years at turning thirty thousand dollars in the ten thousand dollars on a regular basis and during your head and wondering why you're broke. If I'd rather so, your mutual find that you put thirty thousand dollars and turned in the ten thousand every three years, and that was its track record over the last thirty years. You

call me the biggest scam artist snake. All settlement on the planet, you'd line up to bodies, dad gum brand new cars, and sure he had wondered why your kids college funded and funded? not against brand new car about Wanna Christmas, but I got money. That's a difference I'm not, I'm, not, merely a millionaire anymore. Even its multi multi thing now

does this stuff works on bio waste, although buncher plugs programmes more so there you go like you day, Rams really care about run of polio. I'm trying to help you people with us. While we can result in other Sonya Everyday Millionaire Book Trot now, so you can be an everyday millionaire, one things they don't lose by new cars before their millionaire. This is that I am shocked

Let your high student loan interest rates carry into the new year, gotta splash, financial, dotcom slice, Ramsay Splash financial issue. I trust to help you lower your student loan interest rates and help you slash the amount of time it will take you to get out of student loans at their helping. My listeners pour money out of interest and put it back into their principal for your new year. Reset go online today at splash financial dot, com, slice, Ramsay check your rate in minutes and see if you qualify, splash financial dotcom, Slash, Ramsay Shelly is in turn a California Shelly, welcome as it ever empty shell. I see I must bring your dad free. Congratulations

I think you know I'd sure how much will be paid off Oh god, I beat our fifty five thousand six hundred and forty one dollars and sixty two set lover come over the stake. Thirty mile good for you well done and your range of income at that time. You were right about a hundred bunker, good for you. What do you do for a living I work in the agro industry. Now closer more here now closing houses. I don't do that so much anymore, I more in the corporate admin side. Now back. He asked I have closed. My fair share of how this will come about was the fifty six thousand I was a mix of banking things it

you cut out you cut out all on added you cut out all I heard what was a mix of a bunch of things than you got out what you say you're kidding I'm sorry, parent, athletic, wherefore, my daughter's haulage and those were about twenty thousand I had am. I had I care credit card, I call it gave my dead dog card. I don't think I've heard that one before I had a dog had cancer, and I put a lot of money on this card to try to keep him around. As long as I could hear- and so here I am Inga was still paying on this card after he was long gone so much about forty five hundred? Why, when I started the programme, so what how slowly motorway closer at about six one? thirty months ago.

Do you know it was mostly? It was just at church. We don T, you come out and I thought of that kind of cool in, but I don't really want by two hundred dollar line. I dont think I need it. I dont have very much you know where it really have any Gatt and dangerous time. Probably Jesus just put on my heart that now I needed to do this class, so even in the first. The first the second class, where you have to write down all year ear dad. I was completely blown away at the fact that I had no fifty five thousand dollars in debt student loans. In a cowardly I mean we have that right for you know I was really that really kind of gloomy away like ok, it's time then get on this and get rid of this or that I can get you know I want to be able to retire, and I want to be able to retire with dignity and end with money, and you know be able to have a nice life once I'm done. Workin homeward.

Forty seven in your single am, I think, I'm on very cool working relations. You did it. We ve all got our loans, but not your last year we ve all got carloads, but not here anymore. No, not me, I think you never. Never again. I think I wanted to share David. I mean really talk about changing your family tree and am I really feel like I did that with my daughter, she's twenty to you now she's Ito for a long time there I was making really good money and I always lived like at or beyond my means. I never lived below my meaning. So when my income would go out, we would spend a lot more and do things and when my income would go down and I lost a job in answer, she kind to watch me go through a bankruptcy and

from being pretty max boy. I'll tell you now we really had to cut back on things and so she's watch me go through this programme and then he just paid cash for her very first car that she paid for sickening wonderland Do you believe TAT day I mean I never pay cash for a car he's cast flowing her master than her credential programme and with me right now so high side is, I couldn't be proud, or do you notice have her witness year programme in and to really take to change that? Oh I'm, I'm really happiest about that. Absolute knows very well done proud of you over here girl, you did it we're gonna cut.

Chris Organs retiring, we gotta go. We got a copy of the organs book for you every day, millionaires! That's the next chapter in your story: Shelley and Orange County. Fifty six thousand dollars paid off and thirty months, making two hundred a year counting down. Let's era debt raised, I think you ve been three wide world While I was amazing job well done fifty six thousand paid off and thirty months as a single mom but hard knowledge age daughter. Does it man she does, That's amazing. She say she saves money that family trees changed. She base gauge, for God, she's paying for her

occasion she goes. This is awesome very, very well done. Shelly, congratulations very proud of you Amy is where those in LOS Angeles, high Amy. How are you I am well now. Are you better than deserve? What's up all right recently withdrew a divorce, and I am in the process of rolling over the following key to traditional IRA. I called the company and they asked me bad guys me and told me that about half of that is as after tat contribution,

in which case I have the option to either role that portion over to arise. I re more. I can pull, it was no taxes and no penalties. I double check that with their tax professional and they confirmed there. I can pull that portion without taxes and penalties to given that I'm wondering if this still counts, cashing out retirement only to avoid think repeating the closure or is because there's no taxes and penalties should I treat us like a non without an asset and use it to pay. A lot of my debt be It's a non retirement should not pay off your dad. You come into divorce, everything's changing. How long are you married, thirteen years, and what is your income well. I am very hopeful man, but I met a reserve fund, also disabled, that I have a lot of different sources. Putting it altogether, it's and pretty good about ninety five. Ninety five thousand, ok, I got

I start my arm I served, and that includes the timeshare mean that includes child support. That includes my child for herself report. Everything into hammering and I'm not sure how much a debt are you getting out of their steel. I got so exactly divorces final, almost almost exactly one year ago, how can I came out with fifty almost fifty seven thousand and last year I paid are almost twenty four thousand and forgot another thirty three thousand AGO how much money! I wonder just now on. How much is that you can pull out as that we're gonna trade like a non retirement asset, twenty you five just about two thousand five hundred. I'm sorry! I didn't know I understanding Here's the trade off. Ok,

nothing wrong with cashing that out and using it to pay out this debt. And I probably would ok. The possible trade obvious. Is that you're only about ten months from being dead, free. Current pace, I mean you paid off twenty four Last year you only have thirty three right And so I'm kind of tempted- To let this money lay there and make you a millionaire even faster it's already in return programme, because once we pull it out of their retirement program, you can't put it back in there. Other than normal contributions right right, opportunity, cost of about four years worth of contribution exactly

you got it figured out of you, even though the lingo it's kind of on the bubble. I am probably gonna, pull it and pay the debt and then undergoing usually increase cash flow to load up, get my margin she funded and make sure you stabilized after this divorce and the going be definitely. But it is a real good argument to go about why this is the very rapidly

fresh, no California, welcome that over amnesia. Think how can I help you a quick question: listen, I'm here, so I just gotta needed. If I am currently twenty years old about twenty six thousand savings account I plan to gradually state university. In two years that completely paid for, because a scholarship, money saved, you think it's better start feeling at four a m. Now, with twenty six thousand Ursula invested in like a rock island or what do you recommend that ideal way to go your way. I add my own congratulations

and no student loans, No, you got about ten thousand dollars and scholarship money and inside the union set as they get him Christmas gift. My parents contribute at my college the count and that's the twenty six thousand no I have a separate savings account from what I've worked on data about twenty sixth out. How much is in your college savings about ok, very good the three things combined the scholarships and the two different savings accounts get you through school plus or minus community college. First good for you, What are you studying early is not the best degree. Criminology because I work for the chefs department here. Well, that would be the heckling to study everyone works as Europe's environment right, yes, but it is not really clickable degree because they don't really look at what degree you have

basically Vienna bachelors degree else, but that's what I mean it entered outside, decided well. Allow law enforcement does look at a criminology, degreaser you're you're on the right Platt path. If that's the direction you wanna go plus or minus, that particular shares department. Ok, great job man, well done. Ok, the thing Conner Is the best investment mathematically corner can make explain what I mean the right. Of return or mutual Vano turn or twelve percent. The writer turn on new graduating from school. One hundred percent debt free and finishing a degree that is applicable in the marketplace which you are doing is much higher and so by far the most important thing in this discussion, if there's three things on the table, graduating from college dead, free in a good Field of study number one or to buying a house number three Roth Irae

how's and Rob area are nowhere near as good and investment. As you are? Ok I'm gonna tell you. If you're my kid, I would say Keep piling up cash to That's your insurance policy that you get through school on time and a hundred Britain that for now, when you graduating get the job, now we'll talk about what we're gonna do with it, as you may have still a parliamentary lay in there, you should of parliamentary lay in their based on what you're doing me, but just in case like a twenty six thousand dollar insurance policy. That you're gonna graduate dead, free and just let it sit there and savings. Boring is what I'm saying goes. I want to make sure you invest in you first and foremost to get out now when you graduate in two years. You get a degree you get a job now we start working the baby steps, some of your money. Aside for a year, urgency fund, and at that point, if, want to buy home. Anything

but your emergency fund would be your down payment and you can see, Iraq irate for a one case for three bees. Whatever is available to you for retirement, that time. You do that beginning. You show your twenty years old. If you do that, beginning at twenty two you're gonna be very wealthy, because you're down those out of work, your God knows, how to not spend everything you makes and save money. That's it, that's. The kind of people become wealthy it really is and so you know you learn about that and you just keep pushing forward so well done. Man well done Gabrielle is whether in Sacramento California, I Gabrielle. How are you I'm doing wonderful. Thank you so much for charging me. I really excited my pleasure. How can I help I just had a question about making a budget on kind of a fluid income so Leavenworth for church. We also aren't you

none and I am a server as well, but we get paid as we go through do a job or, as I serve that's how we make our income, and so I was just wondering what is your advice: were that kind of a lifestyle. You know and of an income, and we have our are our plans for And like set out but the understanding and a little bit difficult to figure out like what you know all about is what you do. Don't I don't don't ever jump on every dollar and get the every dollar apathy done yet No, I haven't done that's the world's worst budgeting app and it's completely free from us. Dollar, put on your phone put on your desktop, and all it does is that the purpose of a budget, as you want to spend every dollar of your income on paper on purpose before month begins.

Challenges? We don't know what the incomes can be exactly right- and so what I want you doesn't want, you run your budget at the first of the month, based on the lower estimate and what you really think this month is gonna, be if you all, look out from January one at the end of January. You can be pretty accurate for at the beginning of the month, but if you are the two or three times through the month, you'll be perfectly accurate, so you're going. But if you just if you do your best based on low and then, as you make more than you thought it was gonna, be so what what would be it, typical month. What do you think you're gonna make this month total income, second to make four thousand three hundred and eighty one dollars to perfect? What would you think a typical month is that's probably that's probably So what we did? A forty thousand dollar forty three to four thousand other budget. Ok, and then, as the money comes in and you realize you're gonna go over four, thousand dollars, then

you a gesture budget, but you suggest that, as you go along with every dollar, you can do it that way. Another way to do it that I used to do before we had the app was. I just make a list of regular budget on four thousand dollars and that's give every dollar a name before the month begins. And then I would make a list of things I want to do. If I get more than four thousand dollars and put list. In order of priority I do if I got four thousand and one dollar. What would that one dollar go towards, four thousand six hundred dollars. How many different things could I cover and you'd like those out, and then you say what's the more number one thing I want to do if I get above for and put that number one? What's a number two thing I want to do, if I get number one done put a too and usually you ve gotta, prioritized spending plan for the money that comes in above for K. You can do That way, if you want and then actually enter that into your every dollar budget. As you

through the month and begin to really figure out where you are and That's a way to do it that work. So I good shut, your own kedo. You got! This is part of the year, you guys doing stuff man, you don't want it. This is your year this year. People that decide to control of areas of their life they decide way deep down in their decider. Now DR by not a passing fancy, but why Down in your decider, you decide. Way down there, where nobody can change your mind, you decide no way down there were no amount of adversity is going to keep you from winning. That's where you decide where down in your decider, you decide when you how to do that, you can get out of that. Even get our budget. You can get your baby stuff foregoing into your for a one k and be an everyday millionaire, but there's no

but any steps below the plan out your compliant and you're no different me or not, exception to the rule. You do not get too the rules couple down a while ago or die. First I must. But ever since I had hair, nineteen, eighty four worship, you weren't, even thought of yet First, I'm a dove and she said dab. You know you weren't. You work the planet of the plant delay the plan out. If you don't have the plan, when you diving you take it, I plan because over thirty zero rates and atmosphere, and you Boston through those atmospheres. Needle do you safely stops. This is how people die underwater, stupid land- And so you don't you dont, get it, I'm not the exception. Thirty three fates, my atmospheric you're atmosphere.

Sixty six is another one. There's no exceptions, nobody's gonna work the same. Why, then, you bodies can explode. If you don't do it right. This is really pretty simple, and so you know you're not the exception. You work the plan, you don't get to change because it you you're not that special you work plan. This is the diver amnesia guises, play Thomson, senior police or for the day, raising this ourselves. More great content are used to catch the most watch, Dave Ferrie every day to day basis.

Have you got questions about retirement? Investing becoming an everyday millionaire got bigger and broader, with my man, Chris Open on the criminal genscher. I M excited to be able to talk to you all week in week out we're going to focus on your calls and it's going to focus on building wealth, investing and how to become an everyday millionaire subscribe to the christian organs wherever you listen about gas, hey, it's you producer of the Dave Ramsay show this