From the headquarters of Ramsay Solutions, broadcasting, our car rental studios. It's that day, rambling show what matters now is being paid off, obliged w and they ran through your host. Thank you for joining us open, both from a light to five five, two to five Anthony only around she personality, global understanding, others microloans today, you're on the earth. Again, the number of you wanna talk Triple eight eight to five five, two to five.

Starting off this hour is Jose in San Diego. I, how are you. I'm doing good? How high is better than we deserve? What's up so kindly my situation. in twenty years old. I don't. Anyway, I will live in my parents, I'm working, full time jobs. Making three hundred a month now leave about five hundred dollars in those and none I'm kind of stuck into what to do. Next, I don't have to pay up my car. But all the same, a more money. It's none! I unjust a money. What would you do in life and how much it You have a car how much you Panama vehicle. I I need to underline how much is on work to hydrogen instruments, how much must have a car eight thousand

they did how much you haven't. Your bank account right now and you savings by it. Five thousand seven hundred five now seven hundred dollars. are these two things at that- that I'm sorry here. Jose is why you're living at home, you not paying in IRAN it twenty that too upset with that. But I am have having some concerns that you not tried to re sorry. practicing how to become a young man and then other It is dear making thirty five hundred dollars a month, you have a cardinal if you're gonna be a home livin with parents. You know without nobody you should be one hundred percent debt free and bill. Towards their so there First thing: I'm done with my money: is I'm paying off all of my debt yup. That's a very first day no issues. No, if as a bus about it, could you position there a lot of twenty euros. Not yet. You know so looked ass, a very

first thing pay off debt. But where are you Career wise, now is this where you gonna be for the next four or five years is it career destination for you not? So I got second job because I jumped on commerce, tells my college to online. Only I glad you to come back when it's on campus, then I do want to save money until school like a smuggler great your studying what he's done in school. I won't do nothing good for you, so here's your go. Not the car out and polyp cash to pay for college, pretty simple: go. How big a pile of cash. Can you possibly get to go to college as big as you possibly can? Have I want you, over a hundred thousand dollars powder, absolutely and you can do that easily.

when you go back and how long you work and all, but my first, the first in the next two months, you're good path. Car, then, after that you can put four thousand bucks. Three thousand bucks aside as forty thousand dollars a year- and are you? U can our pretty stinking good, Paula money and pay cash for college? When you go back, and you get a nursing degree and is paid for in cash and all the while. You would rather paid for car ding ding life is good, said now Dave as a father and be wrong care because I'm out of I'm asking a father twenty years old. Are you charge me rant kind of when I went back home? I dare say: hey, I'm not going to charge you a lot, but you, Give me something to stay here. Well I mean you had a little bit of a different story at it, so he ate bring you back in every kicked out. Yes, and so he said in a tone with that- and I might have done that exact same thing- that setting now but like the me with us for three months after college

before she got shut up in her new apartment. We didn't charger, got you, but the rent was that she can be a budget. She gonna live under our rules and or our roof and she's gonna get olive some money to get right, move into that rental, death and so, behaving ever way that has a good trajectory is good enough rent for me. Got you got but in this young man here I would like to stay there. Rent free absent, knock that car out pilot pay cash for nursing, that's a good. This kids goin somewhat. Yes, if he's a sharp young man ass, I do now looks like he's camp on out I'm all my uncomfortable bunched Hortatives market, where right right or make it took comfortable around here, Can we do want you to leave? and I love the all picture, the analogy in and is a fabulous won the go, builds a nest out of forms of thoughts from the Thorn bullshit, long thought like three four inch, big thorns and

They build them, Ashley point the thorns in to the mast and then fill the nest with down so that perfectly the ball and thorns, catch him. Any body and the little baby eagles were born and they grow. The mother Eagle start pulling the stuff out because she had us any. its progressively uncomfortable stay in the mast, because when you jump out of an eagle managed it's on the side of a cliff Youtube. Not flowing. Yet you have who choices, splat or fly, and so you have to be uncomfortable to want to leave in that situation. Yes, right now suggesting splatter kids, that's not my point right, but this idea that its comfortable as its and protected it from predators as it should be and then ass. They become young eagles. They be

start pulling stuff out and you make it progressively uncomfortable until they make the leap and they spread their wings of it, because an eagle that does not leave the masters later known as Turkey. I agree Showery. ass. I question Dave because in a way look at the student loud situation. Really, the mice at today's millennials. I don't think she's a similar crisis or, as all a millennium is apparent in Asia, and so I think you have a lot of parents. Hey you! Thirty years. Oh you, thirty, five years old, you can stay here and not have any kind of responsibility. Zack. I want again to think that a different thing than a twenty one year old or a great tenure older, may view, eighteen year old in the go, live at home. They go to college that freak us. I don't have dawn bill all day long and our children were, I want them. Do they show that again, that's up there, gauging in something, though that is good for their future, were helping them in a different way, but these,

the purpose for charging ran as far as I'm concerned is the pulling out of a down to make it progressively uncomfortable yes, but if we need someone to stay comfortable to get the goal accomplished then I can let em shut there for a little bit. My dad did with that money? We I'm angry gather. He gave a bacteria. That's that's! That's the gather that guy category of world class ourselves said I was, I gotta get the mighty visa. You would have spent it for me, a lot of parents do that does not unusual, say you're gonna pay me listen and then they gift back to them later, but they wanted the habit of paying rent unless you shouted young young man to start your step in your manhood? You start taken on your own bills. Yes, but

ok we're going somewhere with what Jose doing he's gotta other he's got a great trajectory brilliant, so very well done already. This is the day. Ramsay shit

at the privilege every day to talk too smart creative entrepreneurs doing great thanks for our economy? Grip? Six is no exception. That's why I'm so excited to announce to you that grip, six is expanding their innovative products line along with their belts, their adding an aluminum wallet and every day where Marino, wool, socks and all of grip. Six as products are guaranteed for life. Give these products as gifts a season to get the Dave Ramsay special visit, grip, six dot com ebony only around your personality is my co host today here on the air. I am they rooms, you host open phones, AAA a two five five two to five Matthew is in Oklahoma City. I Matthew peril.

don't get there. Are you better than I deserve? How can I help. So my bad passed away here three weeks ago- oh my goodness Happier, I die of cancer, liver failure in kidney failure how about telling deep eyes he was fifty young, oh my god- I'm so sorry. Of tyres Let me an inheritance of roughly seventy a thousand dollars or how I just got started in financial peace University here about three weeks ago, Madame the term, right around the diamond up. So you ve been. sick for awhile site for about a year and a half so short

Well, so what's your plan my plan is to pay off all my dad fires trailer and move into it. and then try and make sure I don't lose the rascal from what should I do have. In writing with the pale my car, which I just was vain. Last night was why twelve thousand a for the car three hundred on a new phone. I under it to my room Thirteen thousand bucks makes you Jeffrey you, Sir, which leaves us about sixty Graham to work with the sound right. Yes are older, I am twenty eight, what I'd like to get out

part of the plan. I don't like to single out dreader part of the blame me. Do you know why? But yes, sir, that is gonna go down in value, value. You show your twenty eight yeah, ok, Why would you not by home. I've been looking around emotional homes, but I'm saying you are a hundred thousand or more are Working Renault Matthew work fur subcontracted company through Amazon you called southern smaller. I deliver Amazon packages to. Customers around the shaded mocha. Well, I'm with you to pay an offer that down the sixty thousand there?

we start to wonder what your career goals are and do we need to spend some of this money getting tooled up to go, be what Matthew, to be honest, forty nine, because I suspect it's not driving that same truck The other thing I discuss was late. Last night was I I'm sure you want to. franchise out a pauper Johns close to where I live, I've done more research and the money required for that's about a hundred and fifty thousand. in order for me to do that. I'm also wanting to go to college business management. Well, take the first step and was sure, spend some of that money on college and stay a rent or if you want to stay renter, if

Until you get your career up and going if you want to wait to buy a lot of bad but less spend some money on that and was rent something inexpensively. But no, I would not- and I would not put money in something- is going down a value like a single. What what do you think it Anthony when our hunting in the exact same thing and Matthew, I really want to do here, would Dave said I spent some time investing into yourself up to now. What the EU can do, especially with inheritance check, is to be wise with it. You know How does it benefit you in the long run, hurry big steward of that? So I love that it be going to maybe the college at first you schizophrenia akin to the college game, so we spending a lot of money to transfer to a two four four for university after that? I heard you say you want to eventually by something. As far as I am by business, I like that as a young person, but start small growing and then for near being go ahead and look into bigos such subtle,

up to where you're not gonna set the money aside in an investment where you're not gummy, touching it sit down with Smart, MR prose apart. Ten grand for education in the count money market account? I parked ten grand for an emergency fund over no account- and I said the other forty aside for an investment and let that be growing while you're going to school, and I think that I'll get you there and you know let let's get the career up and running and then decide what you're gonna do by then it may or may not be a proper Johns franchise. You may want to open your own thing with the money that the forty thousand grows into Norman. You can open a pretty fun peach a place if you watch what you're doing so very good for you very well done Dave, I wonder, for some reason or twenties who who is dead free? Who has of fully funding emergency fine? Would you read in them looking into a puppet John site franchise like it. That question acts to me a lot and I'm kind of like fifty fifty like

if you pay cash for ok, I wouldn't I wouldn't open a business. Would that not our absolute buddy have the money to do the opposite and French us right, like it and in my package for house at this stage of the game. So in someone else's zero business experience and you go from delivering Amazon packages to running a business and running all pizza operation publicly does a good job training. There are new owners, but that's a pretty high risk play. I would want some baby steps in between there, get my feet wet and business and he's very wise to say, was to get some classes under his bell on how business I'd love they just having manage apologize for awhile get in their run. One go run one for somebody else and meanwhile continued a pile up. Your courage and publication and some day become a French as each other or that idea we'll pay cash for it and that

I would take some interim steps between delivering packages for Amazon and becoming a business owner and our homeland is a hearing you because you know that's what millennials, what the din today they went to bed owner we're on a curfew donor, but don't start something that of that scale. Yes, star something you're living room, yes, okay and off your card table like us, our this business satellite right and so the eye it some. The thing is it where were you can crash in business faster than anything, is what you is? What you when you don't know what you don't know that and on others, la things about running a billion dollar business. That I don't know I don't know, and I dont know what I don't know but going from our businesses about tuna, fifty million here. Ok, going from that to have five billion dollar business in one jump I couldn't The eye would mess it up because I dont know what I don't know: there's a differ: skill set level required than what I have today to make that

being a short shave, options, zeros and still the same thing. So if you don't, you start something you're living room, you screwed up, you shut Buteux, it's ten grant you! You start thousand our French as coal. And you don't know what the flip you're doing and used your it's. A two hundred thousand dollars willing, ok and show you dont do incremental steps, Does it not by the way when I start this business, I do not run to fifty million dollar bills, so I did the incremental steps as the businesses grow or as grown the businesses ground, guess as I've gotten better and more sophisticated, more knowledgeable in leadership, business, acumen and so on strategic. Whatever then, been able to run a larger and larger and more multi layered business. Then, when it was me selling books are the trunk of a car and counselling operational, my living room. Yes, you know- and so there's, no shame we all we got big Santa here says: don't despise small beginnings because you know, but then you don't take the next step

and the next step up the next up, but when you try to reach pasture abilities, you in pretty much ensure year. get your nose, bloodied, you're, gonna crash, yes and so are we not put a six year old into the NFL? that's what we're talking about and show you grow physically grown stature grown scale, speed RO in everything and then you're in there

but it's not like we go from there to their show good it just some wisdom in the incremental growth guess. This is that I Ramses.

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in France and in me, and I whatever it is: I am going to return to the leg, Well, Sir savings accounts and I'm not sure Should we have no money, I'm thirty thousand dollars in a corner. You, twenty five thousand a tumor merits. My return. I remembered I didn't need when I was working. a band, I think go to your mom America, man, commercial, Mammy, note they make. still knows don't have to travel bans on balance should make money should be tried in question. Is I'm having I

The merchant navy. What about them. Right now? I'm going through browser man, social security, smell poetry,. but I may make a move down. There were going to have to tell me what There were many bone. Hooker miracle. Well ray we teach and Anthony, and I both live. The third two things you can do with money in this regard. One is save it, which you ve done. A good job in the others invested. With abortion that has saved is four things. You need to do soon. for instance, you would need an emergency fund money that was three to six months of expenses. I doubt thirty thousand dollars the twenty five thousand is not invested. Its parked in a bad savings account needs

to be invested. The nineties thousand. You need to know what its invested in and make sure it's invested in good things and so I would say what is three to six months of expenses for you, it sounds like it's probably six fifteen thousand somewhere in there, so you could set. thousand of that thirty aside called out your emergency fund. If you need money for something else, that aside beyond that? I'm gonna, probably shadow smart, Mr Pro, with a bound so that thirty, that twenty five and

even the ninety six IRA Anthony and try to get em all invested in some good mutual for absolutely devout, literally just about to say that and so the six, if fifteen thousand hours it you were talking my day, Dasso Kate, apart that in a money market, account exact, you know, that's fine, but the other part you deafening when you sit down a smart Besser pro and even ask them what are some other ways I can invest with his us could eat as have coming at the kind of help speed up the process because of his age bracket. There are some backdoors he can get around to invest a bit more absolute lots of things. You can do there now, here's the thing what you say you have a hundred fifty thousand dollars and you made to pay on it, three thousand bucks or if you made ten percent on it. You might fifteen thousand back, I'm lonely. Fifteen thousand show this is probably thousand dollar month swing twelve thousand dollars swinging between saving it? and investing getting good mutual funds Harrison. Ray

talking to you this. Probably your first. Down this particular path. So to go, slow you job is not to do what I say or Anthony says or what is more, MR process, your job, to learn enough about the mutual funds that you get comfortable with it and you decide whether you want to invest your money and x Y orgy. If Look up in your shoes, I'm sixty I'm right near you. I would and my personal mutual funds are invested across four types, my investments or that growth with an income, aggressive growth and international- Crash long track records and minor- and I raised in for a one case and other investments as well just straight up mutual funds. So your job you're gonna go on. I gotta clash in a sense has not that intimidating. Is these people are there to help? You have the heart of a teacher click. Smart vesture Dave Ramsay dot com and drop down list of smart reproach in your area. You

which one you sit down with the heart of a teacher. You learn from them how this work, And then you make the decision on what you're going to do. When the stories over. If you did at the way, we should do it, that's what we would do and that's what I thought I've done what Anthony's personally done as well. We pretty much savings for near term things getting ready to buy by car account your Christmas. If savings, for she found and everything else is invested everyday, because I don't want to make two percent when I should be making ten or twelve yes Aubrey is whether in Phoenix high Aubrey welcome that I've Ramsay show. How do you think so much tat? He sure are going on I think daughter has had a lot of prisoners. India's lately we and they were. We help her a lot. She lived at home we say a lot of her finer. She got her job.

We pay first, our farmers medical card to go about things like that shape haste. her auto insurance and guy, I'm sure, there's a boyfriend she's had fairly nine month there, enliven infatuated with each other. She recently came home and said that she was going to go on a trip with salmon out of date and in a hotel. Together, we said Absolutely not Hey and not what we believe and she he's dead. Well, I'm an adult, and I get to make my own decisions that were involved, Anthony, told his dad. You told your dad I want and what happens when you told her that I didn't come back on living in your living in MECCA.

didn't over Well- was thus either. I said if that is how it's to go, there could be some significant changes, financially, there's gonna be an address, train them well, yeah, I guess that's why I'm calling you two thirds getting your guidance, the weather or on the right track, so my thought, he needs to get any from there now no longer piggybacking. Honour killings to find her own, auto insurance Initial move out Eric she's morale you don't Diana my roof and wishing Obama rules at cell phone plan. Aubrey is shit, she's already making money it s, not she's knuckle where they feel that pay case She should take over that right now. What I think- and I am not a father- saw that Dave speaking. It is more often, but one thing I do appreciate, but my father is: he made it very clear, Nigger

respect the rules of this house. The moment you bright, those rules. You can do you, but you going do you outside of my house. That's not mean why do you have that believe? Because you believe it's what's best for her snuff fact, in my view, if she sleeps around its affecting her way and you love her and you're smart enough to know this is not a good plan in you're just saying darlin, this is not a good plan and we live too much to endorse your stupidity, and then we take as much doing that. Ok she turned twenty nine, which turns thirty. Five she's gonna really appreciate you first, true and helping her become wiser because at the age of thirty six, my father is my main guy, because he me out of the house, because I didn't want to listen. That grew me up a lot

quicker now everyday. My father tells me, while under one hundred percent, if the he tells me, but I'm sure, do listen to his wisdom in his guidance because my father, I know he loves me and he wants to best for but if you keep letting her get away with these kinds of things, Never gonna grow a mature into the woman ass. She can be and by the way, when she made this announcement, she knew one gonna go well, it wasn't. I you just sprung a new set of rules on her. She was raised a certain way and she knew she was gone. Perpendicular to that right

wait. So it's very, very hard darling, very, very hard to set boundaries, that's very, very hard to love people. Well, it's much easier to be a wuss and just let people do whatever they want to themselves. While you pay the bill, it's easier in the short term and long term, their lives get destroyed, and so I'm not going to go with it. I'm going to be the big girl, the big daddy, the big, mommy and say sweetie can't live here. If you do that, you got to move, got to pay all your own bills to go Bu. This is the Dave Ramsey Show.

There are around your personality. Is my co ownership today on the day bravely show if you're a tea or the parent of a chain, a pub to tell you about a shop study course that the team and Anthony launched called foundations in college? Perhaps an online courses shows young adults. graduating with a debt. Free degree is possible. It's perfect! for fourteen eighteen year old and Anthony debunks, the myth to go to college, you have to have student loans and he showed Step by step on process on how to start out right right now, we ve got

or in a very special Bryce. Only twenty nine, nine, be mine, it's usually eighty nine. Ninety nine! This is a stay at home deal It is and is a great deal so because I mean it What are you may not have dub honesty? I spent a lot of time with a team here. Dave is really really tuning and not just make an educational but entertaining as well. So This young person will actually enjoy it. They were laugh but they'll walk and formed an educated. three. Only old dot com slice store and you can get the new food. Nations in college prep course for fourteen eighteen year olds, only twenty nine ninety nine of course our team has created a one stop shop for everything, homebuyers need to know, people Bauhaus it right now.

and I ve you're gonna. Do it correctly, you should go to day Ramsay dot com, slash home, buying, get the answers. You need to make smart decisions We have this in our research trending at home prices, we talked reputable realist. I people in your area we're gonna, walk you through this whole thing: gotTa Dave, Ramsay, DOT, com slice own buying, and we can help you through the hole. Russia's right. Now in raising crazy real estate world at least weathers in Athens. Georgia high annually. How are you hey. Do you really think Africa call sure what's up I just actually finish reading total money make over about an hour ago and threw out the book. One thing that catch speaking to me was: that will you. I Are we finance inside more car than we should have so I have a twenty twenty suburban. We got back in April,

and we urge sixty four thousand dollars on it. So he threw out, a book that was wondering just kept popping up and we gotta get out of the car we can, and we went to a couple- differ dealership why that I don't want your car and the other one want me to take a tenth Alvin our law and order. them to take money from my car So am I I am at a loss as to what to do to take this big chunk out of our that what he wanted four thousand currently and what's more, what market value if we looked it up on, can be They told me about fifty six with with it being an excellent commission. However trade in order that private sale, yeah trading, that means they're gonna make the money on it right now. If you sell this car to an individual, you can probably get out of it, but it's not

but but that's hard. That's an expensive car, Selden, individual Neri, Difficult Carter cell sheets four thousand dollar Carlo year. We have four very relieved by now. Will you ever thought of money maker work? You must together just discovered at me. An hour here. You know we. We can't what does your household income we bring home about ninety five hundred a month. Yeah. You need to sell it Japan and you know give it away, but you It is not right It was an unreasonable purchase in your situation and that's being kind I'd get that show but I mean it may take your while you're either gonna. Take it ten thousand our laws by showing it to a dealer, wholesale or I take a while the salad

and I'll get the use of it during that time and Much of the debt of you guys got not coming home Total is one sixty four What's the other hundred only thirty two hundred our body Darwin Alma had been shot. We have just over fifty thousand in student loans. A few small credit cards, so almost a hundred thousand and car payments. Yeah well It here all more under guard the new make yeah like a rough, but here's here's the thing s answer, You just joined a family so welcome to defer thank crying with you, both are now I wonder if I was in your situation, I will put that curbed. I will try and do because every time we drive that

devise gonna go down. If you are going to sell that car, which we are suggesting that you do, I would figure out how you all can keep the mouse low and that in it, say you know it husband. We need to take five thousand minimum law We may have data ten thousand and give yourself a timeframe, so course not so by this date, yeah just gonna take the last one month were given a month put operation. Have you come over for a month after that? You need to take the large you you ve got to such a big mess. You gotta move on this one this truck worth. I think they said thirty by one year, I put up for sale now yeah, you guys, our car mass, who fireside motor cars and get back to reality, and what. And they make via microblogging or cars will carry for kids. It's just a big van. Ok, let's get you a big old, cheap van and

buckle a male go you're you're gonna feel like you, ve lost our three hundred pounds. I mean you just you'd been payments or two thousand dollars a month. It really is. Davy know them. You know the listeners out their sand, Dave just told them to sell both their cars and go get five thousand Allah cars yeah so Nothing at all girls here, but I would ask you: there's gonna, be put thinking what Dave at what point and I get a nice car when you come, occasion. When the total of your vehicles week was less than half your annual income. They have one are both of their cars are all once over half their annual income ones, almost half their annual income right and show. You know it struck his outline two cars, and you make ninety two cars wrinkling forty five, that's a couple of twenty thousand our cars. It you pay cash for Neither one of these cars are that.

and if he's gone driver through thirty thousand our truck, I mean she's gonna be driving a baptism. Our car there, the rest of her life running until they get their income, because you don't need to spend more than half your annual income on things motors and wheels- because they I'll go down and FAO you you're not going to become If we do that preaching in her machine, Jim Amateur Austria. she's she's had the discovery, but now it's gonna now comes the pain and- it's a dramatic shift from a sixty, four thousand dollar twenty twenty suburban, I know to a hoop de yet everyone listening when, oh my god so well, but you know what you should be more gradually. Otherwise, how scared I am for her absolute and her family. I dont know how, in the crowd they qualified for the low level, The car dealers smoking at oh, no, I don't The sixty four thousand hours of this interest rate right now. It s easy. Twelve hundred, though two hundred oligarchy obey me more now

That better, in order better to know so, here's the thing I'm a car guy. I like course me too. I like things with motors in them. I like things with wheels. Here I am, I think, I'll, go fast when voters and are you got, however, if you do math there they all suck yes now I own several and they shock because they They they just simply go down and value. there is no they're, not an investment there? An experience eight of the largest thing we find down in value.

Those workers, car people, we love our cars and they kill ya, but actually so you have to limit the damage that every measure this is James, childs producer of the Dave Rams show on your smart speaker. You can add our skill by saying the lecture open the Ramsay network, skill from there. You can listen to all our shows Ass day, money. Questions like I do. I invest my money for what is the debt snowball find out? More Dave, Ramsay dot com, slash smart speaker.

Have you got questions about retirement, investing becoming an everyday millionaire, go beggar and broader with my man, Chris Open on the crucial genscher. I M excited to be able to talk to you all week in week out we're gonna focus on your calls and it's going to focus on building well investing and how to become an everyday millionaire subscribe to the crucial venture. Wherever you listen about gas, hey, it's you producer of the Dave Ramsay show this So it is over but check the episode notes for links to products and services you ve heard about during this episode.