For many quarters, Ramsay, someone should be broadcasting from our car rental studios adds that day Ramsay Show work that is done. Gashes in mortgage has taken the place of Bmw status choice. I'm Dave Remsen, your host, you drop and we'll talk about your life in your money. It's off recall a triple ate a too far. Five thousand two hundred and twenty five that's eight hundred and eighty eight five thousand five hundred and twenty two

five John is weathers in Kentucky John welcome to the day. Ramsay show Rachel, think they're gonna, go sure sure Rachel step I d brother, how can I help Well, I've been inherited sixty thousand dollars, my father badly. He passed away steer. But my question is: what is the best erotic? Take to get my mind to start working for me, I'm twenty years outages turned twenty another finish my associates, I below monthly expense, and I have zero dead good for you. I'm sure you dad passed so young, it's awful. Thank you. What's your associates. Right now at a social level arts, it's going to set me up to get a major business degree or marketing degree. If that's what I choose I'll show you after four years. Google is your plan.

Right now, I'm sure that's what I'm gonna do. Actually, since I don't have a college fund, I'm paying my own education, like many other people, sailor right now, I'm just trying to see what is the best way for them alive, gotcha! Well, a business degree marketing degree, for instance, from the University of Kentucky? What what city or you m. I live about thirty miles out of wood and the grange. How of course only virtual as well, meal a marketing degree. A business degree from a major state university in Kentucky would yield you some good results on your income. Ok If you will the difference in your income with a degree versus not having that great assuming you are a hard working guy who has other attribute, should make you employable other than drifting degree, but the knowledge from the degree

should make you make more money as it return on your investment, meaning you took some as money, you could put an investment or you could invested into an education and the return education is greater than mutual funds are real estate. I'm a fan of real aid on a fan of mutual funds, but I'm a bigger fan of usable education, and so, if that's the track, you wanted to go on you should I'm twenty Emma finish my associates and transfer those credit, gender state School and therefore I've got to Here's laughed at many years that sixty thousand a complete those two years completely debt free ay. I think that make your dad proud, be. I think you're gonna get a better return on the sixty thousand doing that, with a business degree marketing degree than you will in investing in mutual funds and making you know eight to fifteen percent. Whatever the radio's zone

those couple years as far as the stock market rate of return goes so that setting ours that such your life up better than some other uses of the money. If you were my son, I would encourage you to complete an education that usable in it. That you have some interest in and some passion, and so you brought up business degree market integration, I'm gonna go with that and I I you know. I would think that that would make your dad proud. I would think that that would set you. For the best thing now you ve gotta be careful. You ve, gotta not spend more than that we're not going into debt or not gonna rent a super expensive place. Sixty thousand now a lot of money for two years right and should be very careful with that money, and you know you in ten thousand our car somethin? To get you through this time? If you don't have a car,

Stuff like that by farm, if you came out with five or ten thousand dollars and a debt free degree two years from now and that's what this money was used for. That would not be a bad thing at all and I'm a proponent of degrees are proponent of not for everyone, but certainly for someone who has the capacity to do this, which you obviously do, and certainly of some one that has the desire to do this, which is you obviously do, and so its money well spent. Now the problem we ve got is, as the people overpay four degrees, going to famous schools that do not give them a return on invest

over where they went to a state school or we have people going in getting degrees and ridiculous fields of study that have absolutely no marketplace application, and so you get people walking around with a degree and left handed puppetry is Rachel, says and that's of no use at all and that's a waste. Of money in terms of a return on investment that we may be your mind was expanded. Your horizons were lifted. Your attitude is better because of your left ended puppetry degree, but you will not feature children with that. You will not be a blessing to your spouse in your household income with that and that kind of thing. So that that's what your facing and eat you do, whatever you want, but I do know you compared to mutual funding at work. We want to act so came by house with big downpayment once you get a job and go ahead and get into the workforce of that's the direction you wanna go, but your best rate of return is education, and I think that's folks, but by that's the argument, that's out there

is that the young people throw the baby out with the bathwater, because a student loans debacle out there, because we, the people, are idiots and we loan eighteen year old, two hundred thousand dollars to get a degree in something that doesn't matter from a place. They shouldn't be going to school cause. There broke people, we, the people government ensured, student lounged because we ve been doing that. Then we will say all well. College is not worth its colleges. File. Colleges are too expensive. Well there too expensive, because events, this endless supply money flowing at them. If you quit making student loans, America, the cost of it, nation will go down now, but everybody couldn't go to school, body, don't need to go to school and we proven that Some of the people who did go in some of the stupid but things they did when they did go so

is it? Is it the only path to success? Absolutely not! Actually, not lots of people are successful, they don't have college degrees, but I'm a proponent, education. I find the more I know about something better. I am at well. Do you know? learn, I mean you learn from a lot of places, but a formal academic field of endeavour is a good thing. It stretches them It makes you wonder More well rounded person, all of that, and it does tend towards a higher income, but the degree doesn't give you the higher income? The knowledge gives you the higher income. If you're interested in the stern loan crisis. This debacle, this epoch failure, that's called a student loan programme. That's out there are. We have an eight episode series called borrowed future, the millions of people of Download as one of our party

series and so Jumping Ramsay Network and are anywhere great podcast are downloaded and click on borrowed future and get it going. You'll be lad, you listen to. It were very informative. Yeah you will. This is that I Ramsay Shell.

Please you're me loud and clear. The government is not going to bail you out of your student loans, at least not completely and not without a catch. What they're talking about only impacts, federal, not private loans, and you need to take responsibility for what you owe and pay your debt down quicker right now, splash financial is offering their lowest rates ever with lower rates and extra payments. You could just find yourself that free and the next five years visit splash financial, dotcom slice Ramsay to see if you qualify

nitrogen womanish. America were glad you are here. We say it all. The time hope is greater than fair right now, folks are looking for hope. You know it gives. You hope perspective gives. You hope. Faith gives you hope, a plan, that's a believable plan.

Gives you hope- and you can provide a lot of that by leading a virtual financial picture. Firstly, clash appeal: coordinators are everywhere normal folks who have helped six million people learn how to budget dumped dead, save for emergency, and give generously, regardless of where you are in your financial journey, you can lead financial breach university. Maybe you can help others by being generous with your money, but you can make a difference with your time by leading and have pay you on line group or the virtual clash, and that means hope from home baby each other's work. No better time to be a light for folks right now, we need some positive things. Going on out. There led a virtual financial peace University class, get started by texting, led F, You'd thirty, three, seven. Eighty nine, that's led. F, p. You want

hard nosed basis to thirty three seven. Eight nine are. Washing of the day comes from blinds dot com number one online retailer of custom window coverage. You get free samples the shipping and with the new promos they run all the time you going even more always use the magic word. The promo code, Ramsay you get the best deal Alex's in Illinois, I'm a single man with no kids moving from baby step. Two to three, as I began thinking about homeownership, I wanted of. I should consider the concept of rent to own properties. What are your thoughts? No, I would not harm. No reason to rent to own just save up. So I go down payment and buy house fifteen year fixed where the payments are no more than one slash. Four of your take home pay. Here's the

where's on rent. You pay more rent. Show that if you do by some of that extra red goes to your down payment, Eighty to ninety percent of the time the person doing this does not ever by the net result is that just paid more rent, you're much better off just ran as cheaply as you can specially single guy, no kids right man, you can just anything the safe and reasonable bug, lush right. Let's just do all of that, and so now you can. You can save like crazy in your situation for good downpayment and then get your good property on a fifteen year fixed where the payment is no more than worth of your take home, pay open phones at eight hundred and eighty eight, eight hundred and twenty five five thousand two hundred and twenty five,

are going through at this. At this exact moment, the toughest time of your life, you, the breakfast, you ve, ever been scared. If you ve ever been the most hopeless you ve ever been. Hard was twenty four years old, I start buying showing real estate I was twenty should starting from nothing. I had about four million dollars with real steadily lower million dollar net worth I made to it and fifty thousand dollars taxable income that year, this twenty thousand dollars a month neighbourhood. European and nineteen. Eighty six. We call that rich.

But I had done a lot of stupid stuff in that I had borrowed money out my ears- the bank, called our notes and we spent the next to it, fears of our life, losing everything we on a file bankruptcy in September. Rachel was born in April right before them. I had a brand new baby, a toddler, a marriage hanging on by a thread August before I filed in September. I'm sitting in my recliner cuz. I couldn't sleep it three and thirty four clock in the morning. Reading my bible and the words off the page came alive, Rejoice in your suffering, Does it God now should know, knock Rejoice in my suffering that just weird.

Rejoice in your suffering. The suffering produces perseverance and perseverance, character, character, hope Hope, is a gift of the Holy Spirit that may be well where some of your right now you know it's almost impossible to rejoice in your suffering. I mean really that he has just weird

that's a weird request of God, speaking in his word and I'd like to tell Ya Data got up and develop jig, and I rejoice to my suffering, but I didn't allotted was just say: that's where, but it produces perseverance in it did do that and that produced character, and it did do that and it gave me hope, which have never lost thirty years later. You see, my plan was to become worth a few million dollars owning real estate. God says I have plans for you and they're not to give you not to bring you harm, but to give you hope. And I think what he was telling me that morning, when our sitting there may be talking to you read the second: is your little

Binkie plans were much modeled thinking. Whilst I have a couple million hours or no state that my Heavenly Father crazy about me and he had a much bigger plan for my life. Obviously, we ve got a lot more. A few million dollars for the real state. Now, that's not how we measure. Think about the impact that this Ramsay Organization and this message with his radio show on six hundred stations and the fifth largest podcast in the world A number of lives and the rich of soul and satisfaction that God has given us around this places. We help people everywhere all over the world. All because I was stupid and went bankrupt, Malo DINKY Plan, my father had so much better plan for me, the mild dinky plan,

I know some of your hurtin scared right now. It could be that you're getting right, a substitute best plan, your shyness plan you're, you look back later, like I am Yeoman Eliza DINKY plan. Wasn't much of a plan. It could be that I'd, say and you ain't seen nothing yet these people out. There are now Aachen, wrangling, wow there's a new normal thanks I'll, never be the same like ie or Is their spirit, animal Oh it's bad. And show others anew new normal, which always gonna be rough? we're always gonna have corona hang around lie. He's gonna be bad. I don't know how our group make a year and these whiners out there there every where

I'll think life is gonna. Returned order was running. It's gonna be better. Some of you are having a never again moment some a year, your dinky little plans have got the set aside, gives got as a bigger plan for you. You ain't seen nothing yet you may not like their message in Tokyo, Your own, this is the day Ramses, Well, we're spending some extra time at home. There is no better opportunity to protect your family with term life. Insurance Zander Insurance is open for business working remotely ready to serve and

you. The best rage, add this to the top of your to do list and visit Zander dot com or call eight hundred three five, six, forty to eighty two to get this taking care of its quick. It's easy and now is the time to get it done, while rights are still love that Zander Dotcom recall eight hundred three five, six, forty to eighty two, real humans in the lobby of Ramsay solutions will allow that, yes, we're back open to the public. We ve been back in the office for a couple of weeks, Tennessee is opened by the order of our governor and or take. Advantage of this thing called freedom, and this week we opened up to the public against with human beings in here standing on the debt. Stage why? Because their debt free so

and marry or whether a guy's welcome to the show. Thank you. And were excited beer good to have you. What do you guys live trust a burning Alabama, oh yeah, shit on the roads of couple hour drive up here are three hour. I will welcome to Nashville and all the way up here to do a debt fresh, Green S right how much of you paid off two hundred thousand Ah, some, how long did it take you twelve years, I'll write? and you're a range of income during that twelve years when we started we were both working in probably in their one ten range and then now the last. Eight or nine years, she's been home in the kids, but we were right around that range now poker for Europe come come on up as far as the second income went away, it very close. I'm guessing this length of time indicate you paid off your house. You are correct. Why are people s right? Man? Are you too, I'm thirty, nine and thirty? Thank you did it, but for Europe

already I want you to this house worth They probably two two hundred problem why I'll find it is paid for the detailed research a hundred percent foreclosures occur. I'm home, where the mortgage you're right, you're free world just awesome, so proud of you guys. We feel it fills a great especially with a of your first Oliver tat. We did not have a mortgage. We had many and savings, the stimulus we invested, it sure and we went to the lake Why not? It does put you it's strangely insulated from things like this when you are dead free and have APOLLO money, its view girl. She already had your merchants. Yvonne obviously implies gives you walk in the baby steps right. That's right!

and so that's there and then the house has paid off, just as you enter into this corona thing and you're saying they're gone while what but Providence God that the timing is that I'm sitting here with a paid for houses? This all happens with my work in a physical therapist, and even where that some Hospital slow down a little bit, but it is working out. Buddy it didn't we were. We were ok. I was stressed by to spend more time with a family and to see it. That way versus being stressed. I think that's a big thing. People forget sometimes money. You pay out things with the the hope you build and the lack of stress and how that affects your health is just amazing. There's a lot more people are paying attention with bingo and on how sure sure their wish there were. You are I'm here with no Paden fell dead at all how's payment or anything this lousy done. I love it. I'm so proud of you guys! You watch! you on this journey twelve years ago will start

as before, looted format, Marhaus Pity school hours in the whole about sixty eight thousand and I didn't like that about need to get out of this, and I was looking for a way and at some point you plan on nanomaterials go into the town and a small group, and then we went through together. We get made, are actually engagement, yours ever really. I listen to you a lot better than I listen to women's rights as one of those who need it, and then we ve also actually coordinated. Since then, three classes were thank you like yeah yeah, we're we're happy, because the hope that as people really is the payment Iver adjust it just pay you back. When you see people We have opened, they just don't see a way out and then And then they start to see quick thing: but may my first job I'd sixty thousand Oda that hospitals talk now heard about. You told everybody

and then ten years later and work in some of the same people and I'm tellin we're paying the house at seventeen years, gazetted network, that job and now their light weight. You still doing this in its working, so their pain, a lot more teach until it. So you know if our somebody about get a hold of a plan and they may think it there. It is going to do it for a little while, but really, and it took us awhile. I will say part of the reason: would it to quit? Twelve years is because it was August. Twenty four team: we actually doing it in started doing the full plan, and that was my fault. I want to go control the budget, I think we both had some struggles. I didn't want to set number that I had to stick to and he didn't want to give up control. And one day I said I can't believe I'm the one suggesting this, but I think we need a budget. Now, while she was right and ever since August, twenty fourteen, we ve been every time we do our budget It's getting easier there's times, we argue occasionally, maybe this little bit but it's. It's made it easier over time and our marriage has gotten better communications, better,

It's just so much more than money out ass. All people see that now well mean as medical professional. You duty the amount of the poll the stress takes on the body. It's very real. It is very, very real, and certainly in the obvious thing, hypertension those kinds of things, but I think there's a lot of things will learn some day. You don't know now about the impact that this frenetic culture, run run run, run like you're a rat, not we'll what it does to your dear physical body. People realize s

Well, well, timed! You guys very cool. So what are you tell people? The key, as you did this for twelve years, you have a paid for out, while I would say part of her me as being intentional and be a proactive you don't just like you said you did, you can wander into debt, we get one or out, and I think, with physical health, with whatever you're doing you have to have a plan, and then you have to go and implemented. You dont does show up one day and it happens, and I think Bro activity intentional living and budgeting. For me, the biggest thing was learning how to say now and that just because it was on sale doesn't mean you have

to buy it and is shopping at SAM's, which make sense only have a large family who that is a lesson and self control because they get to the diverging after walk past, all the cute clause that are unclear it and if you try to outsmart them than they hand your kids. The snare, of course, would leave and put them in your buggy sometime oil that, yes, the learning how to say no and the stick to what was on my list. That has been huge for me. And it s very satisfying this self discipline This thing were I decide for me that live like no one. Also later I can live like no one else did you learn to say now so that I can say yes to more important things than baggage snacks or keep close uncle and you know there's something that you there's. You feel so grown up. Humming satisfying self discipline, self control, some one else doing it to you, but you choose

to do that, makes you just can't stand up a little straighter, absolutely proud of you guys very well done, who are your biggest cheerleaders of each other, I think, along the way for me at my work LA times, if I was you know it's our list, new show not have people pop in and out made occasionally asked me stuff. We didn't we people were in our class or just people France along the way that we gave books to that, come back around and really ask your and then we were able to turn a talk into that kind of motivated us. I think- and I will say one thing I didn't do well is I didn't established very well early on my wife, so I would The nerves worked on that because it's much better if they understand spirit, water, doing it verses than you always talk about that low and young, otherwise, or just complying. That's grown up at all right. So why oh you gas and you brought the ghettos or with you, sir, and so how many kids and more their names and ages we get for joy, Samuel, Caleb, Rachel and Jacob.

And the ages, or what to what nine six four five and three oh wow, wow! Ok, you guys are beautiful. Well done! How fund and its Paid for is rising and I'm looking at a family tree. That's been changed. That's right, you did it. You guys are negroes very well we got a copy Chris Shoguns book for you every day, millionaires that needs to be an extra finished or gas. Assert well done. Thank very very well. There are John Samuel, Johnson your Caleb Rachel and Jacob Mary Alison South from Birmingham Alabama too. More than eight thousand dollars in twelve years. That's our out! Everything gonna, where people can. Download Sarah debt dead scream three, two one.

We are thereby love. It. Congratulations, gas So Is it your turn? fourteen day redraw financial base. Is it your turn that they were empty.

Our scripture today, solemn nineteen fourteen, let the words of my mouth and meditation of my part be acceptable in recital Lord, my wrong, deemer and reforms Thinking is the hardest work barriers which is probably the reason so few engage in it open phones, a triple eight, eight to five five, two to five. Thank you, joining us. America Dave. Ramsay show or comments Hence is here for your dollars and sense teach you to live on less than you make a concept Congress can't grasp

Stephanie is in North Carolina. I Stephanie work, the diver amnesia. I gave hey what's up I want to thank you because you its not just my talk and my kids. I bet my needs well, here we are drawing our controllable, several excited and cool, and the reason I'm calling as I would marry for twenty three years and I'm really single I don't know anybody to blame anymore of my finances are askew on board. We get a free in May is the goal, and why don't you find out. Is I try to do my brother and save money each month we did a few. Quite a few years ago and as a result of that, we find that was the end or insurance versed in pretty good, knowing it to have high Otto insurance seventeen year old who is driving a burial, Minivan Endemic

It's my bodily injury property damage, but life insurance they're. All I what they might be higher than what I need right now and because I want save money. I was trying to play for you? It's what you recommend, as are those on it for them. Much on the liability yet so far there auto insurance and carrying three hundred five hundred and bodily injury and a hundred thousand in the property damage. Yeah, that's the main one. That's that's not an that's, not what you driving up your rage, courageous jar, collision on a seventeen year old, that's, what's driving up your rage does she was shooters. Fifteen many began and I'd rather a twelve year old pilot. Am. I do have the question of camp on the pilot and I wondered Cuba. Cargo in words about six thousand, and we were. I should traded reconquer but you should know how to conquer, though it should. I continue. Carry

for carbon on that rule you know the might replace. Should I do no not yet shown couldn't you can afford to lose that car? You need careful coverage on it, show but What do you say if you haven't shopped Otto Insurance package? You should an insurance broker in gotta run Com and click on Ethiopia, for insurance and property casually insurance, p and see insurance is called and you can find a low endorse local provider. For that. That's a broker know what a broker areas means they work for you when they go to different insurance completion finds you the best deal in your situation. That's different than what we call a captive agent, which would be like us farm agent. They can only so far and stable. I'm very seldom the cheapest. Its most always more expensive in their service is horrible. So, as

but you don't want captive agent anyway, so a sharp among a bunch of different companies and get the best deal, that's what that broker will do for you, how much life insurance do you have on you Why don't you want to kids to hear about em? We I have seven hundred fifty thousand under because my kids for young and old northward, I only fifty three thousand a year I am, however, for us, and then twenty one and if anything were to happen to me, but my ex husband do the great out, and he would he could he could easily take care of them, Or your need for that life insurance is dissipating really quickly You know it's if you want to keep at it. It's fine, but but the bottom line is that if someone- Anyone out there listening you mean anybody dies, then you know. Someone is counting on our income to eat is not

have that income and so that fifty five one thousand dollars that year bringing in disappears. Obviously, when you die now, how's your kids gonna survival. One year olds are beyond their only figure it out Seventeen year old would go live with dad for a while until they figure it out. Now are they heading to college or you participating in paying for that matter. What support plan on all that? so they ve got a lot of money for that and my son of pain his way, I'm my daughter quality community college for two years you died Goodwood. They would that keep them from going to college had no one July so the main issue is: can you kit? Would your kids be ok with other lives being major early disrupted without your fifty five thousand dollar income on the planet? That makes sense I don't! I don't feel they method, so I am hoping you I could lower that amount because it is expensive each month you could you

definitely got it in half easy. And far you, you matter, rewrite the policyholders. It concept that five years, not you Lord Conniston and around it out. I doubt you can reach over and cut it now. I think you have to have a new policy issued your new age, and so you have to look at what is that worth fooling with or whether you just hold onto this for about a year and then just drop it altogether from now on, the kids are even less danger, you know of a would be without you, Is there anything else that needs cleaned up, financially you're taking care of. If you were to pass, Oh I'm very lucky, I'm are divorced very clean and like it that it is a little bit about that'll, be taken care of next bring advantages. You D panorama maybe someday path mortgage, but again, there's no one. There It's that mortgage to be paid off with life insurance. In the event of your. Do you like that

no you're, not nor the other. Kids were just sell. The house may be the you, your leave, you need to do. Will fresh efforts, force, a new will that leaves everything to your goods or whatever you leave it to, and then that now the ashes will be sold in the liability should be cleared, the balances, their inheritance but lie, insurance is not good for an inheritance. Its therefore supporting people that are counting on your income and what worst Here is here in the last few months or years of someone counting on your income, and now it is another household could take that on your ex husband. So you could look at dropping You could write, look at cutting it in half, but that's it are you analyze? It is the Emma doing. The right thing is someone you I'll be harmed. Our are left out in the cold, so to speak financially. If I were to pass- and that tells you what's going on so that's why young. Families with two euro. Three all they need a fifteen,

when a year level term policies meal, twelve till twelve times or income, and you get that his insurance. Guiana is with us in Virginia Hyaena. How are you. I'm the one are. It is better that deserve. How can I help what is really going on new job turn. You decide what work benefits and she accused My first time it different options. For having about nine thousand five hundred and still more. What are your auction rising? options. They have some hope then, we could include Lillian, but my mom under my mom's coup cross, prove she'll. Birdie sorrowing need that freezing go on No, you don't have despite that market,

unless there clay are they furnishing it for free now, ok and feel for journalists to separate science like three knowledge and change. When you add up what you pay for it? You could have paid for your own dental with what you paid for it, but it does very seldom is a good policy to take vision, as you very seldom a good policy to take your major insurance you got there. Your mom still that's fine you're mine there and you just walk And look at him that way, but what you look as what you're paying verses, what you're getting, and can you up the risk, your cell phone insurance. Gentlemen, our vision. You can absorb that risk yourself in your first job. Thanks for colony.

It puts us. Our that I Ramsay show in the books are thanks to James Childs are producer killer, Daniel is or associate producer and phone Square Andy Ramsay. Your hopes will be back with you before you not in the meantime remember. There is ultimately only one way to financial peace and that's too warm daily with the prince. Peace. Jesus, hey, it's Kelly, associate producer advanced greater for today, Ramsay show this episode is over, but if you heard about it a bit product or service, it didn't have a chance to write it down. Don't worry. We list everything you ve heard about during this episode in the podcast show that or had today, rancid outcome. Eggs analysed

money, Isn T always when we talk about around here, get life. Changing advice on your career from my good friend and career expert can comment on my can combine 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 weaken the can combat show is for you, everyone has a sweet spot. You're sweet spot is at the intersection of your greatest talent in greatest passion. We will help you discover what it is you were born to do and then will help create a plan to make your dream job a reality. You matter and you have what it takes joined. The conversation on the CAN Coleman show air more from the Ramsay network, including the current common shop. Where ever you listened about gas, hey, it's The 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.