Live from the headquarters of Ramsey Solutions, broadcasting from the dollar car rental studios? It's the Dave, Ramsey Show caches Game has taken the place of the Bmw is the status of choice, I'm Dave, Ramsey or host. Thank you for joining us, open phones at triple eight. Eight, two, five, five, two two five at triple eight eight, two, five five, two two five George parts off this hour in Arizona, hey George! How are you.

I'm doing well. Thank you Dave, thank you for taking my call and thank you for everything you do because of I've been debt free for two years now good for you. My question. Thank you! I have a small HVAC business here and my view on money and credit cards, has totally changed since listening to you. So I do not have any credit cards and I run my business completely debt free. When I talk to some fans of family about spending my business? When I buy parts and materials I immediately pay it with a debit card and people think I'm crazy for not using a credit card to earn the. Dollar points or cash back on billboards for it. My question is: what's a good response tell them why. I don't care to eat and have a credit card to earn those points that I could be getting.

Well to start with, you need to understand that there's not a response, that's going. Make them be. Okay,. And so you just gotta understand you're going to do what you're going to do. And there's always going to be some people that are not. Okay, you know convinced against their will are of the same opinion. Still my grandmother used to say, and so you Just really can't talk someone into not being stupid, they can decide to investigate and understand something. The chances of them saying well you're an idiot for not getting all your miles an you having a response that changes that um is probably not there. If you have a question in your mind, though We can address that, but you know The bottom line is that heating and air companies that run a bunch of debt and

behave with the handling of their expenses. Fail. A much higher rate People who run no debt who are very careful with their expenses. That's the real answer, and It's not ever been a millionaire ever the time with it says you know, I made all my money on those airline miles. That was, breakthrough financially, but all the millionaires that one the largest survey of millionaires ever done over TIM. One thousand north american millionaires surveyed almost all of them The eighty percentile range said they don't use consumer debt and biggest mistake they ever made in their life, was back when they were younger and did and that they could becoming wealthy with a doing that now love them said: oh man, really glad. I ran all my expenses through a credit card, so I could get airline miles

change my life. None of them said that. It doesn't make much sense to me I mean I, I being debt free for two years. It's the most exhilarating feeling. Now I mean it's just, and so with that you know, the rule of thumb is if broke, people are making fun of your financial plan you're right on track like for people making fun of your diet? You know yeah, it's not the broke people, it's just people that have money, but still they are I think, I'm crazy, which I've been you for a long time is working for me great all right, thanks David. That's all I need I'm in shape the shape, the call you're just not going to get people to behave. To understand all the time. It's just not going to happen. So there you go open. Phones at eight billion, eight hundred and eighty eight million two hundred and fifty five thousand two hundred and twenty five Hilda is Withers in New York. Pay Hilton. Welcome to the Dave. Ramsey show

My day look up, so much for everything that you do and teach. Thank you How can I help out of gratitude. I circled meeting at the new this year for the first time. I thank you experience, I think yeah. Thank you, but so my question for you. I'm fifty six I am a single mom, my daughters, now thirty four I'm late to the retirement saving game, but I'm not their swing. I'm one step six about forty. One thousand left to go to pay off my mortgage and I iron about hundred I'm gonna year, pre tax, pre business expenses. Question for you that I really wanted to pass by. You is

you feel partially, my daughter just graduated with a masters degree. In order for at thirty four, she worked for quite a years before she went to undergrad ok so she's talking about she's a grown woman that made a decision to go, get a masters degree in Watt in art, and what is she going to do so? She's out there slinging to two. Earn her living. No doubt she gonna do well is under the track to be a gallery artist, she's work, calories, she's selling her artwork. That was the goal. Ok, shop or do that so yeah because the where she got it I mean um. Got it from you, it's uh

working as quite a bit. It's important. Okay, I think particularly for that track when she to undergrad. I remember distinctly heard turning to me because I have stated did that personally, though, I have not I've been terrible at saving money, I've. Never I don't have that. I hate it, but she turn to me and and say what do I do? I can't I'm going to have to this is when she went into undergrad and I remember distinctly saying to her- I guess you take out. Loans is what everybody seems to be doing, will figure it out later. So I do feel no tremendous personal response before the debt level that she has. Why partial. So here's a grown woman. She decided what she was going to do. I see you woman. Now you up and said. Well, she was a grown woman when she did her undergrad. You said you know,

to this day, but here's how I look at it is: I'm a grown woman at fifty six, certainly an I'm just getting a handle on this, and it's because of your program. You know so I kind of feel but that's different than you being held responsible for her decisions? Oh she's, now Nobody is holding me responsible and- and that's yeah No, she has not asked me for anything. She doesn't even know. I'm thinking about your student loan debt did she run up to get her masters in art at Yale Well, it's about one thousand good Lord, that's undergrad and grad good Lord, but here's the question I wanted to ask you and whiskey you think I'm crazy or if you think it's a good idea but uhm, so my earth is not very high at this point, and most of my house, my thinking is we ran out of time. So you'll have to hold through the break, will come back and get your question. I'm sorry this

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thanks for joining us America, we're glad you are with us. We say it all the time, but it's worth repeating. Seventy eight percent of families are living paycheck to paycheck. Think of ten your closest friends, and that means of them were underwater, maybe more it might be struggling to put food on the table, but they're living paycheck to paycheck a feel trapped in. And they they put up. Instagram life, that is not real. Most people are hurt. I don't have to be this way, if you're, sick and tired of being sick and tired, there's hope. You can learn to manage money and you can take control and it could start Are you at financial peace alive? Ah,

brand new event we're going, give you the momentum and the plan that To kick start your goals, it's the baby steps on steroids, it's Chris Hogan and main tomorrow night Wednesday, number of the 20th we're going to be broadcasting from in South Carolina. We've got about three thousand folks scheduled to be with us there sold out event and going to live stream that event screen passes, are on sale now and can be purchased at Dave. Dot, com, slash events or you can search our site and find one of the local areas. Just carrying the live stream and then they are free If you just want to watch it in your home, by the nine hundred or the nineteen dollars or whatever it is, you can watch it for free. Or you can attend in person. Well, you really can't intending in purse sold out, but there you go so check it all out

I it is tomorrow night Chris Hogan and I are going to be doing a live stream of our financial peace live event were going to laugh together rod together, I'm going to walk you right up the baby steps and if you add someone you been trying to get on board a friend spouse or parent a kid plant them in one, the screen somewhere and somehow yeah, information to them tomorrow, night again, it's free- If you go to one of the locations that is holding it all over, there's two thousand locations holding it free all over America or if you just sit at home and watch it from your recliner. You can do that and just do that again daveramsey dot com, slash events, it is being live streamed. No, it will not be replayed. It's a live stream! That's where the name comes Hilda is weather is Hilda, is in New York and we

we're talking about your daughter who got a masters degree in from Yale is eighty thousand dollars in debt at the time that she took out the loans. You all had a discussion and you're feeling worried for her and kind of heading it's a question where you want help your not responsible absolutely not responsible here's. My question Dave? If what do you think if I sell my great house and try and create a win win situation at the end of which I would definitely have a much smaller house, but my goal would be to be mortgage free and Release about forty thousand and equity that I would put down on her loans. I don't think you're wealthy enough to do that fifty six. You have no retirement in about one hundred thousand hundred times? You need to be building retirement and you need to have for home when you come into retirement

if you had ten million dollars or one million dollars, and you want to lady ground out and pay off her loans, just as a gift not as an obligation or Possibility? Which I do either or here, but if you to do that as a gift that be fine, but you don't have the margin this is going to affect your retirement dramatically my thinking, well again with the goal that at the end of that, I would be mortgage free in a smaller house, and then I could just keep swinging away at putting money away at retirement. What is your current home worth at two hundred and thirty? and you know how much forty one hundred and ten or two hundred and ten equity, on one hundred and ninety equity, not counting expenses, an you would buy a home. That's how expensive my goal, if I can make it happen, which is very difficult in our area, would be to buy one for like one hundred and thirty yeah.

There's only one reason here, there's only one reason: you'd make this happen now, there's only one reason you're doing this. Is you want to help your daughter, yeah, That's the only reason you're doing this yeah and that's very, very sweet. I wouldn't do it. I don't think you're being financially responsible. If her Yale connections are so valuable, Ann, her masters degree in art is so valuable. She'll make the money to repay this loan. Ok, you claim it's worth that. I have my doubts, but you think it's worth that and if you're right, then she should make the money to repay this loan she's a thirty four year old woman is. She married, I see, is engaged.

Great, and what is his income about? Seventy thousand and what is your? What is she been making in the art world? What's your best, your honor yeah? What? just graduated in May, uhm. Ok, I don't have a yearly figure. She does have a job or she just she's, just she's, just painting and trying to get her. Spelling she's been selling artwork, but I don't have our purpose I don't know how much money has she made since May when she selling artwork? Oh, since I don't know, I don't know, I'm sorry yeah I mean, do you think she made ten thousand hundred thousand? No, I would say ten to twenty. Ok, maybe so it sounds like a few duplicates that and it grows that she could make forty or fifty thousand dollars a year

in the coming years and her husband makes seventy they make one hundred and twenty they can pay off an eighty thousand dollar student loan. Ok, I She ate that you're worried about your daughter, but don't let that suck you into a tunnel of vortex that causes you to do such damage to you, self that I'm talking to you when you're eighty and you don't have the money for food because you start making these moves out of this perceived guilt that you have this perceived responsibility that you have. That, frankly, is not accurate. She made her decision to do this. You didn't, and I you didn't tell her she had to you- didn't tell her you'd pay for it until her any that, and so I don't, I don't think she's in a situation where she can't eat she's, going to have to buckle down and go through financial Peace University and get these loans paid off and she's going to have to you

as the ANA. The degree in the knowledge that she got in the art world to make a good living to pay off this money and prove that her theory in your theory that Yale contacts make it worth it so far. They haven't so far. She made ten thousand dollars and you you don't pay. Eighty thousand make ten thousand. Those are contacts that are worth it, but maybe they do evolve into something, I sure hope so That's my goal for my wish for in your wish, for thanks for the call Christy is with us in Florida, Hey Christy, welcome to the Dave Ramsey show so much for taking my call sure. What's up I have a question uh. My husband and I recently got married and we say here and we are trying to move our money together. However, we both don't have like good kind of like, like a nice enough money and stuff like that, with a good growing up, so we kind of just,

need to figure out like should we put our money together now We could just go through your plan a little bit more and then move it over Japan. Asking about that One of you doesn't trust the other one, no I'm not bad at all. I just feel like we both don't have like I mean our parents didn't handle money together, his friends in HALO very well, so and none of them have any money yeah. There's a high correlation between couples that win financially and the money together, there's very Two of the millionaires that we interview that handled their money separately and so there's your data uh what I would suggest you do is the two of you go through financial Peace University together and learn to handle your money. Starting now, ready set, go I'll pay for it, hold on and I will give it to you as a gift. Merry Christmas Madison will pick up you guys signed up this.

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in the lobby of rooms, these solutions, all the free stage shown in Sydney or whether say guys. How are you better than we deserve? I love it. Congratulations and what do you guys live? Boise, Idaho, welcome to Nashville from Boise Good to have you awesome and how much data you guys paid off just over seven hundred and fifty eight thousand dollars good Lord, wow, and how long did this take you took us? three shy of six years six years very good and your range of income. During that six years we were lucky to have uh. Big shovel and consistently made over two hundred and twenty five thousand throughout the process. Ok, alright cool! very good, and what was the debt? The 758th

twenty seven thousand dollars was a car about two hundred and eight was a rental property, and then we had a first and second mortgage on our house for the remaining part. Get off your house, you did I'm looking at weird people absolutely way to go. You guys, awesomeness, very cool. So what's a house worth the house is worth about One hundred and twenty five to nine hundred and fifty thousand wow way to go excellent job need an invoice. That's a big house. Yes, we're pretty lucky yeah. That's neat, congratulations, very, very fun! So what you guys do for a living medical device sales, an I work for an orthopedic distributor great, there's some great incomes yeah way to go guys very fun so what put you how long you been married? Okay, so four years into marriage, you look up and say we're making bank and we ought to get out of debt. Tell me the story actually started about eight years ago. My parents, who are here with us, p first to go through Spu, but

time. Sean was traveling a bunch, so he didn't go to the class with me and it didn't stick of course. So, a couple of years after that and we were on the verge of a financial cliff as we call it. We had all of this debt and then we were looking into purchasing a vacation home in Sun Valley, hello and flee, seeing a luxury vehicle for me when we looked at the numbers and something it just scared us and something cause me to order the total money makeover and I read it in one night when Sean was out of town an I looked around our living room and it hit me that this is our home. But it's not our house, it's the banks and it terrified me. So I started working on Sean to try and get him on board and couldn't get him on board. Until I bribed him and told him, I would make him any five dinners he wanted. If you had it read by the time he came back from his next business trip and I am very food- motivated food-

she knows how to get her man's attention. Yeah I like it. So you read the box. Yes, I read the book Anne took off on my first flight and did the first leg, which is uh about two one: slash two hours three hours read it and I landed on my layover and called Sydney, and she asked me Do you think she's all excited- and you know I hadn't quite hit home with me, Because we were at a place where necessarily step one two and really three applied quite but I said you know I think I'll keep reading it. It makes sense but it doesn't necessarily apply to us and where we're at right now up, the phone, a young lady sitting next to me said you know I've been meaning to ask you what you thought of that book and she hasn't talked to me the whole flight. She she said two years ago. I became debt free because of Dave, and now I'm a couple years away from becoming a millionaire, and you really,

that book and I went all right so the next lake. I then I read the rest the book and got excited it hit home. It made sense called her by the time I landed in Dallas and that I meant what to do this wow just like that, She has no idea how much she changed her life. Exactly that's amazing That's uh! There are no coincidences, it's not an accident. She ended up sit beside you, having trouble so did you pay up? Did you pick up the fab meals, yeah, actually good. Well, you sure that's awesome, very cool, very cool, so you begins six year Journey and you have seven hundred and fifty eight thousand your home and Everything, as is you said you got a good shovel, so life is good but

I just got really really intentional. So what are these keys to getting out of that? You know it stay focused. I think you know keep that that in game in mind and where you're going on it was really hard for us and the beginning of the journey, because we have that rental property on we decided we should sell it and we're kinda under on it online at sat empty for a long

time and the ac broke. The furnace broke Murphy it right, and this is the beginning, the journey we don't have kind of those small wins to begin with, and it was really discouraging ob we kept talking about you, know our family tree and what we want, our future to look like and we you know plug through and, and you know, stay motivated and and they can keep the angle and then start now we wish we had started when I did F P, you we're grateful. We started when we did so anybody, that's thinking about it. Just start now, you'll be so grateful any year. Three years five years, you'll be grateful. So how are you today? I am thirty three and thirty four and millionaires yes, yeah easy! Not I mean the house is worth almost to make sure that you got four. Oh one k just off on top of that, I'm sure from before used-

and in and out so well timed young thing as it feel free, that's slow, frene! It's we knew it feel good to to get to this point, but we don't know how good it would feel yeah and just the freedom to choice of what we want to do, how we want to live our life. What we want to do with her family feels like it's up to us now, like our lives, are ours to decide now we're not going to be forced into anything, and it feels surreal to be here. We watch debt free screams, like every day for the last, yeah, it's really cool to be here, doing this wow. Well we're glad you're here, congratulations very, very fun that is amazing well and with this kind of an income, and only thirty three years old and one hundred percent debt free and already worth a million, I mean you're going to be zoom zoom, going to position to do outrageous generosity, not to mention level incredible life, an not to mention absolutely slam. Dunk change

family tree, so very cool and during the six years, baby. Yes, and how old is your baby, yes? eighteen months, all fun and what's his name. This is Conlin. Ok, hey Conlon very so here to do a debt free scream and don't even know it rang. I love it. That's so fun! Well, that's a good motivator right there! So very well done. We got a copy of Chris open facebook for you, everyday millionaires, you're already one and to prove to you why, as you get through it, you'll enjoy that read as well. So show you how people are really done, what you've done and now you're just one more story, that's in there, but it's your story and it's one Congradulations Yankee Dave, I'm sure your mom and dad are really proud of you. Who were your other cheerleaders. We got my mom here with us and said these parents here and they've been cheering us, though the whole way and we- and we also taught a few- and I went to a shout out- one of the women in our class just finished paying off all of your student loans. Close this month. So far, so many Lego, Sammy, good, very cool

It's Sean and Sydney, Ann Conlan from Boy, Idaho, seven hundred and fifty eight thousand dollars paid off in six years making over twenty five is a household the whole time. Great job as down. Let Sarah debt free scream three hundred one, That's fine! That's fine!. It's awfully fun to talk to someone at any age that is paid off their debt at any income that is paid, but because of the way the numbers were because of the power of compound interest over time. When I'm talking to these couples that are thirty, roll and I'm doing it almost every hour. It lately that have paid off everything house and everything there,

In addition, there is not simply be millionaires, they're going to be to live their life beautifully, like I told him, probably net worth in excess of ten million dollars or more by the time, retirement age, and have changed their family tree. An it's pretty incredible, and the interesting thing is it's simple to understand. It's just hard to do because everybody's got a stupid but opinion all these bro people have an opinion, and all I have to do is put one of these proven things on twitter and I can create hate for two days off of that, because everybody's got a stupid but opinion all these broke people with opinions. Instead, I'm sitting here looking at Sean. Sydney who are complete, freaking rock stars.

And that's an opinion you ought to take this is the Dave Ramsey Show thanks for joining us America. This is the Dave. Ramsey show open phones at triple eight eight, two, five, five, two two five

frustrated that you didn't learn about money when you were in high school You know. Ever since I've been teaching this stuff people say you gotta teach this in high school. So we did. We started teaching in high school a few years ago, developed a high school. Curriculum that meets all the headlines and benchmarks of the educational systems across America and been approved in every state and we're now in about forty eight percent of the high schools in America and called foundations in personal finance, so lots of your teens are going through the stuff that we teach This curriculum is the real deal and teachers all across the country. You know it Decatur is really want to teach it because they know it's real practical and it's something that actually helping their kids with but sometimes they run into money problems. They don't have the money to buy the curriculum and if you want to learn how your business can be a sponsor and make a difference in this, and you can sponsor foundations in personal finance in your local school or high schools in the area just go.

Dot com, Slash sponsor dot, com, Slash sponsor and jumpin partner with us and we'll help these kiddos out into the next generation Jackie's weather's in North Carolina. I Jackie. How are you I'm. Well. How are you, sir, better than I deserve? What's up my husband and I recently started the program and at work, for us, either additional insurance there's a couple years back, I will So I guess it a scare tactic I signed up for all these insurance policies. Additional policy. My question is: should I still behind up former, just rely on a regular insurance, a pride of my work? Okay, What you wanna do is kind of go back and visit, not the feeling, but what really happened when you got cancer that caused the debt

Well, I had, I was self employed. I had my own insurance policy, but it didn't cover everything. Ok, my chemo's, you know they ranged it went from twelve thousand to fifteen thousand units fluctuate, and I was like two hundred and fifty thousand dollars worth of death. Ok, she had a bad health insurance plan. Is what you're saying exactly? Does your current plan, your current health insurance plan with your current employer? Is it a good one? Does it cover the type of stuff that you experience before? Yes, ok, so that need has gone away then hasn't it yeah sure yeah, the rest of it is gimmick. Ok, all the supplemental policies are gimmicks. We recommend good health insurance to cover cancer and heart attacks and diabetes and anything else that people run into its basic health insurance needs. You need good coverage. How much is your deductible um

exactly okay, five hundred dollars yeah, and what is the co pay after that? Thank you. Twenty percent, okay, and so, if you had a one hundred, one thousand dollars bill from a hospital. You would owe twenty thousand and two hundred thousand and forty thousand and so on. That's a lot different than where you used to be a great now, of course, you're going to work. Our plan you're going to get out of that and then you're going to build an emergency fund of three to six months of expenses, which would cover that a co pay portion in ninety percent of the cases right, yes, sir, and as you build wealth, you'd have other monies to cover anything above that. If you continue on and do whole process and follow through so I'm going to use the money. That's going to miscellaneous cancer policies and short term oldies and all that kind of stuff to make sure we have number.

Debt freedom and then two build your emergency fund and that combined with good insurance gives you the coverage. Okay, I don't own cancer insurance, I don't own short term, disability insurance. I don't. I have long term disability insurance, the rock group plan here at the office- and I have a great health insurance plan through our group plan here at the office. The company I own, okay, but I don't buy those supplementals. I insure through my co, pay Zanmai deductibles with savings and that self insure through any

income loss? I would have this permanent with long term disability, short term disability. He would cover with your emergency fund and that's the definition of a rainy day, shop, good question and it's good thing to unpack, and but the other stuff is basically like. You said it's for your based selling and it's gimmicky insurance and you're much better off to spend your money on other things like sometimes for thank you for calling it sometimes folks are like at their work half of accidental death insurance and it doesn't cost, but. Dollars. Well, it's six dollars. That's seventy two dollars a year and for seventy two dollars a year, how much term insurance you could buy whether you're, regardless of how you die with us by accident or otherwise? Okay, so here's the thing: you're not double dead. If you bye, bye, die by accident and your family doesn't need twice as much money the

the same amount of money- that's all, and so you don't need these gimmicky insurances Jonathan is with us Jonathans in California. How are you Jonathan, I'm doing good how are you better than I deserve? How can I help. So I'm to ask a question. So it's about uh, I think what you refer to as gazelle intensity. I've been asleep for about six to eight months and uh, I'm hitting sort of like a rough patch over the past year. Because about a year ago, uh I, after having just proposed to my and a few days later, I found out that she had been unfaithful for a number of months, and I guess I don't know if I would pass for the past year. I just haven't been able to Stay motivated and doing things like sticking to your plan.

I've done things sort of like trying to you know I picked up extra. Here in there? How old are you I'm twenty six, how old, twenty six or twenty six? Ok cool? Alright? And how long had you this girl, we were together since we started in two. So, five years until I found out okay all well, I mean normal human being if you got messed for this way after five years invested into a relationship, a girl you're deeply, with you and get get engaged to, and then you found out she'd been messing around on the sat a norm human being. Would that would be called a heartbreaking situation, a normal and being would be down for awhile. If you, if that didn't, knock you on your back it be like a psychopath.

Yeah, I mean you were in an emotional car wreck. It takes a little while to recover from a big car wreck right, yeah airbag deployed smack you in the face dude yeah yeah. So you got permission to hurt a little I'll, give you I heard a little. I would've been crying and one carrying on sucking my thumb, blaming everybody. I mean I don't blame you um, yeah. My my main concern is that it's so it's a weirder than that. It's been a year and since then um both she and I have attempted to reconcile and move on. It's a deal bro, may you live. Are you? You live alive five of five years on you do you want I'm just old man, okay, but- if you were my son, I would tell you cash your chips. Get off this table, dude, not a chance

walking and looking for somebody is going to be the love of your life. Let me tell you why you're not winning financially and why your careers not going zoom zoom, ok, eh you're heartbroken and your Reason for doing all of this was this beautiful glorious. Picture with rainbow and skittles that you had mapped out. They got trampled on yeah and that's What you have to have in order to get excited again, is to have a reason to be excited and just doing this stuff. To do the stuff is not exciting. Working your butt off to get out That's not exciting lesser something on the other end of it, sure knew. Why and the question of that- yourself about this kernel, is your twenty six. Let's but everything you get reconciled. You go through counseling and you get married and you're thirty. Five She comes home late from a girls which party one night

you're, always going to wonder always this is the Dave Ramsey show hey, it's Blake Thompson, senior executive producer for the show you know you can listen or watch anywhere with the Dave. Ramsey show app on your smartphone catch, the full show or watch the highlights and check out daves upcoming guests head to the app store and download it today.

Money, isn't the only thing we talk about around here. Get a life changing advice on your career from my good friend and career expert can call all my Kim Coleman show. According to a recent Gallup poll, nearly seventy percent of Americans are disengaged at work. If you dread going into work every Monday morning and you're just trying to make it to the weekend, the KEN Coleman Show is for you, everyone has a sweet spot. Your sweet spot is at the intersection of your greatest talents and greatest passion. We will help you discover what it is. You were born to do and then we'll help you create a plan to make your dream job a reality. You matter and you have what it takes join the conversation on the CAN Coleman show here more from the Ramsey network, including the can call in show where ever you listen to podcasts hey, it's James producer of the Dave Ramsey show