Live from the headquarters of rams, usually broadcasting from our car rental studios. It's that Abrahams Asia, that is down pages gang and paid all market, has taken the place of the Bmw status symbol of choice, and I am sure, your host. Thank you for joining us. America, open phones, a triple like a two five five. Two to five, that's triple eight, eight too, I've five two to five.

He's going to start off this hour in Tennessee, welcomed that I Ramsay show Gregg. Thank you thanks for taking Mccall sure. What's the marquess Is there a list of yours for decades and never financial peace, but I found it Matthew rules, man. Ninety nine comes out of a hundred. My question is: for those of us who have become their free. And we have no there and at what point in time, do we realise hey busted, my but say for decades, to determine that starch lodging sobered my planet. As you know, by little. Not really. No like a toy or a car or whatever you probably buffer. Years ago, for you apparently I'm sleep every day. You're, probably like. I probably like what happened, and this is what

This too is is that we live like no one. I also that lighter, weaken living, give like no one else, and then we forget to do it shall you live like no one I'll shoot. You know been on russian being new got out of that and you got used to it. On the cheap and even power, money and you ve done a great job and you're probably dead for Republika Big, Paula money and, and now its emotionally hard to loosen up a little bit. Cause you're afraid to ask what you're afraid you got screwed up exactly so the rule I users, is that one Working with people who have some wealth and struggling with that and sometimes honestly sharing and I struggle with it- because our money has grown more than our emotional grasp of it. We feel still feel like? We are worth a lot less than were. Chile, mathematically worth nor I'm saying yes, and so after. What we say is if we're gonna splurge, if gonna

something? That's just a crazy. What we use would call a crazy luxury item like we were broke. Peep When we would say no one should ever span Diana on bad. Have you ever heard that you know yeah yeah man you're gettin, ready to now. You can write to spend that on that which is very cool. You should buy that car, you know so the a farmer, users is what the ratio of that. Through my net worth ok So let's bring lectures, and example: let's pretend you had a million dollars in mutual funds in your for a one cat. How much have you got just one carrier total autonomy, but one point: seven million. Ok, I was getting on proper right, ok sure way to go. Congrats. Sure you did it. Ok, so let's say you bout a crazy but

one hundred thousand dollar car. Ok, ok and you and even put insurance on it and you forgot to set the brake and it went off a cliff and burned. Now you're worth, I want two point: six million, while womanly dopey that's a kind of a bizarre. About? But only if you just completely set hundred thousand dollars on fire in your backyard and watched it burn it. Wouldn't change your life at all, so you can splurge like that. But now, if you start talking about you're gonna say eight hundred grand on something crazy nice Have your ring and were all we gotta, stop think about this one. You see what I'm doing, I've got a freedom that weren't I've got. A friend is worth two hundred million while Show buying a two hundred thousand on our cars. Like most people buying a biscuit

right ratio, was it doesn't matter, it doesn't effect? Is life. And yet you know where I grew up in the way I grew up. No one should ever be an add on a car when he makes to ease keys gun. Hundreds of millions of dollars is irrelevant. He gives more than that in charity in twenty minutes, the ministry Support was zero zero zero in the end, and he has car and people grow by him, but his car course. You know The guy's got, you know it's a small percentage rivers of his world, so Way, you know you're, not screwing up is, if you set fire to that much money when it grew up your life. And so if you want to go on a vague Jim and you ve always wanted to the crews around the world, its twenty eight thousand dollars or its are it's a hundred, eight thousand dollars you can do it enjoy their vacation and it really will not affect your life. You ve earned the right mathematically. If you want to give that much to somebody. Do you find the charity

A ministry in God says for you too, in all its building, a small house over four hundred grand or something you can do that it will not affect your life, but that's all That's how we gauge it is if, after this thing, if it just set fire to. Are we still ok We still did we even notice, and the answer is no than were not spending too much on that, and so it doesn't make sense. Yeah, that's you. Don't really have like a percentage You know I you know em. It's kind of a common sense thing, though, is approaching eighty percent it it would be too much right this post. How cheaply Amandas looking its bloody, maybe spending fifteen grand you're too cheap. You need to go about it today, why you did all this. You ve worked your but off man you from nothing? And you have one point: seven million am I right No one who gave you this money you

hit the lottery. You been workin your bought off and being diligent you on the right to enjoy your money. I used to work sixty hours, I know you, you don't get to have one point: seven million working thirty hours a week. You know. You're in everyday May. In her, you fit the type ology exactly and all do in saying yes, you You not only have permission. You almost have the emotional obligation to treat yourself to some things and you need to make sure you don't some generosity things that match that too. Then I get more out of that. Then I do being itself aspersion bound for my personal serve. Absolutely sure. That's another thing we do is have wished, fifty thousand on item we might go by three used cars for single mom since by fifteen thousand on them. Sometimes we match ourselves and maybe that's just cause, we're so,

feel guilty, or something that maybe it's also just keep this imbalance, because if you got gender bending round about the same level, and neither monomer drain and you down the where you're broke. You live in a good life. Thank you very much for your advice. I appreciate the talk to thank you for. Let me get up on my soap box, because you wonderful cause, I'm gonna, take that call very often most determined. You guys are, on the other side, adrenaline be that guy you're gonna be here when you grow up, live like? No one else show that later you can live the giver No one else. No discipline seemed pleasant at the time, but it yields a harvest of righteousness. Scripture says the diligent prosper Scripture says not the lazy are the ones you run their mouth, the diligent dream. Besides sixty hours a week, I heard great place Go in your broke work, This is that I Ramsay shop.

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even more always use the promo code Ramsay some magic word a better deal Dave MILES from China in Arkansas. My truck has an amazing warranty, the last for the duration alone. I have on it so far the warranties covered over five thousand dollars worth of work has been done to it so that your truck sucks shut up my truck and lose the warranty yes, and if it continues to break down like that, you need to get it over drug Amby, dead, free or use profit from selling property to put as a down payment or house. You should pay it off Europe, Africa. I've got a really nice raptor and I, if it costs me five

The knowledge and repairs pretty regularly, I will be getting rid of my really nice raptor by the way it has a great forward warranty on it. Bompard a bumper that came with it that I did not pay for, except in the price of the car, was not an add on extended warranty, those tied to my stupid alone. So if your truck is breaking down the tuna five Grand a year, your truck it's horrible, you need to get a different truck. That's what that means maybe get you need to get out of that did not make. Cannot you cannot figure out a way the staying in car dad is gonna, make you anything but broke going forward. Is whether, since California Hijab work, but I've Ramsay shall I beg you from taking my call my pleasure, So my wife- and I we put the property here in southern California, we're about to make a profit of oppression.

A hundred and eighty thousand. I love it good for you. We had that I'm an unhealthy architect forever. The developer and the candidates passes deal onto me and now they're telling you you're calling this Friday or thirty. First, if you want another deal, let us now we can give you one or I have Seventy thousand dollars worth and die includes some. Learn consumer that and my autos, not my wife and my car want to build an accessory blowing unit in the rear of our part of the house. That we are so my question to you is shared I'd. Pay am I got off and they continue on another deal or pay it all off and then keep failing to pay. For my eighty calf, which will later cash about three thousand dollars a month. What are you Michael travelling on my house.

Combined were about a hundred eighty while killing it good for you. So what's the deal late that their passing on something they traded for and given a giving it to you to deal so you're able to flip it and make money on it there, flipper than felt that they offer wholesale deal fell sometimes when they have too many houses on the market. They'll just wholesale me, one for a small, healthy show, the one. That's one, eighty: what did you pay for it? The problem you profiting one area- we we paid seven thirty and and filled- are calling for a one point four, while you must have put some money in it, then yeah tolerable

asked that we put in Russia alone with a hundred thousand, so we're getting that back, paying that off and then, aside from that, we haven't met you page, seventeen hundred, but a hundred in the dutch eight thirty and you shoulda for one point forward. How are you

only get you only getting to interpret it are repair, work or construction. Conklin closed three hundred over COO Ee. Oh, when we're done all that money come from a hard man alone. Ok, so you borrowed a million dollars. Plush Tonia thrown back right, you're, a million dollars in that you made one eighty ok! Well, I used to do that for a living many many years ago I bombshell property for living, and I flipped properties using debt to do it, and and- and I was pretty good out of a minute- it several thousand deals over a period of years over a couple thousand periosteum alive and

got caught doing it because we ended up with too much debt and- and I couldn't move the house- you either you moved this house and it worked for you and it's almost like you're, the guy that dropped a quarter and the slot machine is. He walked by any hit, and so now he could. He has a chance of putting his is mortgage all back into the slot machine, because one Tommy hit your ear. It's almost like the worst thing that can happen in Vegas is for you to win in and ex almost you'd situation. You might you might get out again, but if something happened and the Chinese or the Iranians or tromp burps and the economies sit still for ninety days, you can really be bankrupted by one of these deals. If you couldn't move the property, so that's the danger of debt

Bush, so I'd, never borrow money for real estate period, and I never recommend people borrow money for us to accept the home that therein So, even though you had a really good experience and I'm happy for you, I'm glad you might under ninety grant, but you took a lot more risk. Could then you, then you felt in your stomach It didn't feel like you, you took this much risk, but you really walked out on some pretty thin ice there and you got across you got across the river, but- and you know and you might hundred eighty grants, I'm happy for you, but I just I can't tell you that that's gonna happen every time and I can't tell you that the you're not gonna, get caught your pants down. Eventually, here if I were in your shoes, but what I do you make really good money, I'd pay of alma that just exactly what you're talking about

using money, some found money. You got you work this time and then, if, since you'd like doing these kinds of deals, outsmart saving after you get your homepage off towards doing some flips with cash Have you done a deal you were doing there with cash? It was an ok deal was a little tight, but it was an ok deal. Becoming flip, you needed to be done around seventy percent of value and you were little higher than that, including repairs, and so are you are. You are you're margins were little tied on there's, even though the actual dollars that came out of it are impressive, but yeah Europe, your margins for a flipper, would have little tight, will tight or not to want to done even cash shall anyway. But what I do I would take this money get that free and I will use my income to finish our paying off my home and then I would save up and I would pay cash and do some flips, which means, as polygon, be three years or more before you do one

and that's ok, you'll live through it or you can keep trying this when I'm afraid, eventually, you're gonna put your hand over there and, as you know, it's gonna be bad, I'm afraid you're gonna get caught. You and the cook ajar eight hundred and eighty eight eight hundred and twenty five five thousand two hundred and twenty five talk about your life and your money, Josh's with us in North Carolina hate Josh. How are you Dave, I'm doing well. How are you, sir, better than I deserve? What's up Let me give you a bit of a background. I got some health issues, Canada and dare to twenty seven thousand round about twenty five. Years old, I do not now twenty five I was diagnosed with kidney barrier. A year later I was put on dial, who spoke for some and then in February two thousand and ten I had my purse kidney.

Years later, it failed, and I was put back on bow with five years. And then, in April actually April, sixteenth of last year, I had my second kidney in September. Can you started to fail, but thankfully the doctors was able to get it back at me, one day on track. And then only leave I was diagnosed with cancer good. My team are yes, yes, Sir and arrived here again to say the least. Yeah. Up and down turn, and for the last thirty years I had tried to your term life insurance and actually what what our entire cancer, He has been so long pioneer states forward

before. I found out how dinner found out that no one in when they went home with a comeback tree run after his breakin together. Oh my goodness, this is that amnesia

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Talking with Josh North Carolina before the break told me at each stage for cancer thirty nine years and is also a kidney transplant. Recipient was second guinean, restarted gotta, going back in September, way to find out this news on New Year's Eve Is that a first summary what you told me so far, sir? That's Eric and then what I was saying before the break was I'll die. On New year's of cancer. And then on Thursday, even further, that same Wade. I was told that it was stage four and when things can never get any worse.

My mother was admitted to hospital seventy miles away, my hometown, and with double pneumonia, and right now she has somehow alone, matter of that around half the length labour market and certain can't really what he's in it. In trying to figure that out. So it's been a rough the start of the year, to say the least. I think we could turn twenty twenty four different here. Having I really get even try to me- and I think you should do so- are you married? I am single you're single, ok, yeah are worthy of a career. I knew. I was working part time. I've been with the company for four years parttime time on a part time basis because of their political issues. Yes, oh yes,

I was on disability, such security ticket to work on. One point then Sir Yard, to be part of culture and show your security and come to show much. They actually, I don't have any security and more than a year has gone because I had because of worker, work too many hours and now owe them eighteen thousand six hundred sixty four dollars. I'm sorry that majority or twenty seven then? Yes and so on? What is your main question today? How can I best help you in this Well, I mean another, give your term insurance already talk to him, Zander, another able to the incoming insurance, because a pre existing sure condition with cancer,

I'm just wondering Moreover, it is dates for Thankfully, the came out This cancer respond well to the key, much less good news. I don't want to know what is the prognosis them? Well, just there is what they're saying minds? Well, meaning that show is the Shah terminal diagnosis? Not now. If it comes back, they say and it could be, but as a right now is not just go on illness them So what are you doing here? What are you doing to eat and pay lights and water and ran out our looking up here? I don't have. I don't have it.

Come through the right now, because of this talk well, what I would tell you to do is this: you can tell your creditors that they're not gonna get anything because you'll having right and you have one full time- job Josh fight and whip cancer. Yes, sir, beat it that's your job, but is not only an ngo and there's no income to give them and there's no magic peel and honestly, what so, security ever gets paid or that other creditor gets paid is way on the list of things to worry about. When you have stage for informal you're right, I mean where is like that. That's a one and the big see is a ten right, so just more calmly

stop here, which is beat the crap out of stay alive, right yeah urban. Drownded is a main and in what I'm trying to do is take you emotionally, I'm gonna, give you permission to set those bills in a drawer and don't think about it for a year, ok, just or about nothing I can take, you don't have anything right, you're what we call judgment proof and if they call you up just call on just laugh at him and go data in our got one foot in a grave. You think I'm worried about you, people those who think too is the sturdy has already said: the Baker s money. Out of my taxes, my encounter at the end of year, you have rightly recognises the other could digging out wages, but you know me wages, right, load for them. Take money. Are your income taxes of unanimity income right? Some good luck! With that?

Now you know, I'd mom said: gave your blood overturn up exactly the same people here. Break with a hammer, never saw bleed mackerel, I just got it unwise to listen. I want pay, your bail, you want to pay your bill. Help me with that, but you got bigger fish to fry than to worry about that. If you get your health back I would agree that you can start running some money. Then working on getting these bills paid off right sure but right now you don't have an income. You lose your parents you're fighting stage for I'm not worried about social skirting jump. The creek John ok yet I find others even without will make em out just talk. Talk talk! Dave, Ramsay said the jump in the Greek. Ok, because I just now so then I do not like they care what I say, but here's the thing, you start earning an income thou. Then you you're gonna turn around. That means, starting to heal physically enabled her

you shut your life and take the next stages for in your life there Gonna want to pull. These are the drawer and address them agreed. We agreed, and you call me then and I'll help you, whether for sure but there's nothing that any of these people can get. Unless laser is there a leaner, Carlo, Carson and the driveway, The Cardiff have alone on a hooker, probably saw that does gonna come get it. If you don't pay it right and you can't, You can't how much do you money on it? over three thousand hours? Ok, well, I mean Do you have any wage, grouped together in money right. find a little ways here and there I'm gonna go funding age, but I understand you might need the car to get a treatment, yeah why compounded away get into treatment until now in the car.

If you know what I had they're gonna report agreed agreed, so a problem and I don't want that to happen and probably going to sell it then, and then, let's talk about you, know figure in this thing out. What's the car worth the question I am not sure about my head leg is worth more than three. I would yes If I were in your shoes, I would sell it and I would put the difference in cash in the shoe box. Then I do not put it in a bank and that way nobody can get in the car. And then you get the other side of this health problem. In that your seed money to get started again, you get your low thousand dollar car, something and you get back to

work, when you can and then will attack, these are the dad trust or give them cleaned up. Is there anything else sitting around that has a lean on it nor okra? Well, here's the deal Bart Brother, you are you call me back and let me know how you're doing and when you get back on your feet, start gains from income company and I'll walk with you and will walk out these stupid money problems, but they are a minor detail compared to what your facing I will days thank you so much for taking my call. I appreciate your advice and everything that you do start on her to talk to you, Sir, and I'm sorry, for what you're facing will be praying for. You. Just in case, you thought you had a problem today. This is that I rendition

thanks for joining us, America were glad you're here. One of the smartest things you can do with money in the new year is to protect it. If you're gonna money. You also have to have a defence to keep from losing it. Offense and defence are required to win the game. And so you you need to have the right insurance implies. Checking credit report regularly, make sure your wheels updated and we the tool that will show you which of these you need to adjust and just five minutes. An email you to do list and tell you exactly what to do first, the fur. He too is called the coverage check up and it could be

important five minute. You spend the sheer tracy saved over nine hundred dollars a year on home how insurance and Her will now nodded bodies. Gonna have that happen, you don't have enough coverage, but right sure you're gonna know the right thing after you take the coverage check up to show. How do you get it? It's free get your phone out text, the word chow, up to thirty three: seven, mine today, Ramsay dot com, slice, checkup text check up to thirty three seven, eight nine Donna is in North Carolina, hide Donna. Welcome that over him she shut it was beyond us. Oh I'm, sorry, Deanna! I missed it. I apologize. How can I help

I have always hundred thousand instil along that Crowley on Paul Buttered, current interest abandoned bankruptcy, and I'm trying to figure out how do I out after that in some additional? Well, if it's the truth there are thirteen bankruptcy, everything that the chapter- thirteen bankruptcy Be the last item in your debt snowball, your bankruptcy, in other words, would be how many deaths on you have that are not in the chapter: thirteen bankruptcy justice through long term loans. Not in it now. Ok, the bankruptcy, does not put it on whole if it's not in the bankruptcy was intimate. What's it but I'll pay towards, so it still don't get causing. I can't access an online? I can com and act for how much about them.

Questions butter is really not nothing for me to pay. One at the summit has said about that. I'm here amount of repaying is not doing anything for the student, long and student. Are not by incorruptible meaning. If you converted from thirteen to seven, it doesn't go away so you're, just gonna have a hundred thousand dollars in that. How much debt? Do you other than that in the bankruptcy neck, this or could only have like less than a year later. Ok, how much is left in the bankruptcy thousand almost nothing good, You're gonna come out the back of this thing. In that hundreds thousands can be staring at you. You ve got your ok and what other How do you have that are not in the bankruptcy I do have for one came on and I took out for years about it. I had chose the law of the market, pay. Under my arm check. I,

half a medical beetles their home and learn through one through a company that consolidates the. Ones are just some of the coming year. And then I do have some are too low ballot card that arm by next March, Able to pay off cut up, ok sure. What is your household income. I bring home about forty thousand when your shingle, yes for the child elders your child. Sixteen! How much is your house,

On seven hundred and fifteen, with my way, how much is your car payment of the car was included in the bank? Was it'll be paid off in the year? Ok, let me tell you what I heard you can you can push back and tell me I'm wrong, but I hear a pattern of you got out of hand, RO with money and you went into bankruptcy using data control with money. She couldn't pay your medical bills. You stayed out of control with money, so you took out alone on your for a one k and you stayed out of control and money so used credit cards. All of these things happen after you file bankruptcy, almost five years, Now my bankruptcy on it in three years ago, Sylvie one k is before there.

But the thing is, I was out of control and a kid Often the boy October last year, further? I am getting in control and twenty twenty ok good here's the thing! If you keep reaching for these traps, Have you read out you're, never gonna get out you reach, therefore one Catalonia which for credit cards he reached for bankruptcy, and none of them have gotten you out. The bankruptcy gamble offer view until you till you get around to it, but it didn't get you out. We'll get you out is living substantially on less than you make whether rewritten budget and so how and we ve been a single mom.

In a few months of two thousand mistakes, unified national law by yourself, ok fight. So what we have to do is we have to change your overall habits with money pretty drastically, so that your income is gonna, be way more than your out go. Your rent is not out of control. We get rid of a paid off car. The credit cards are almost gone, you ve got some clean up today with the fora, one k alone and you get from clean up to do with the medical belgian than we get. And knocking out this Mammoth Mt Everest of a student alone right. Why so I'd call the stone loan people when you come out the back of the bankruptcy and just say, hardship, hardship on became pay. Anything

now, because you can't and in the mean time, let's really Terran too, while you're in this this last year, let's terror into and clear up the fora, one cologne and the medical bells, because if you got no payments, when you come out the background of the bankruptcy you're on a tight budget and you're under control, and you can start there. Money towards US student, in a very real way, you probably the surrounding invested loan whacked out you're gonna be working extra when your child finishes up and leaves home you're, probably going to sixty eight hours a week for a little while to clean up this mess. What do you do for a living I'm a bill. Inquired and their set our sights on get opportunity inside and looking for what right now. Looking a little, these racking do that doesn't take too much away from. I saw the arm but good, and then you can it that when he's eighteen and gone or twenty and go right, sir,

if your billing Clark, you gotta debilitated, shot hustle helping small businesses with their bookkeeping or something right, you you couldn't do that so something along the lines. I don't care, but you need some more money coming in, because we need to throw me if we throw two thousand dollars a month at the student alone that still takes us for years. You do and you don't two thousand hours a month right now. Why? So you would you probably we can probably find a thousand dollars a month in this once you get the other stuff off of you and get on a tight budget. You increase your income by a thousand dollars a month at your two thousand, but you got for hard years that and you can make go away as four years? Forty eight months of two thousand is right. At a hundred we can get there. I can show you how to get there and I'll walk with you. Ok, ok, but you cannot keep going back

to a matter, control or lose hope. I get scared and saw a plug a plug. My finger in the stupid socket why you gotta stop it cause. You don't like four times are found on the story, you you see the matter. You say the pattern that I'm saying, ok and I will help you change beckoning. Because I did dumber than you did a child, learn this stuff. Now I need of the year so that they were on the same theme for on the same team, I'm here to help you you hold on an ominous sign you for financial Patient university. I want you to go through the glass I'm gonna to pay, for it help you, okay, darlin you hold out. Take good care of. You call me back the Uruguay pick on you again, the love you they give regard.

Puts us, our that IRAN's you show in the Bush guises like Thomson senior executive producer for the day, razor sharp this hours over more great continent were used to catch the most watched these rules and buried every day. There are several babies and showed me more money? Doing what you love check out? Christie rights, business, boutique, podcast, racism?

firing and equipping women to become successful. Running their own business hand, Christie right and I help women all over the country, take their ideas and passions and Hobbes and turn them into profitable business. If you have an idea in your head or dreaming your heart and you ever wondered, if you could make money doing it, I'm here to help join us on the business duty podcast, where we are equipping women to make money doing what they love to hear more from the remedy network, including crucially large, Boutros Boutros Podcast. Wherever you listened about gush, hey, it's 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