For my headquarters of William. She solutions. Broadcasting from the dollar went all studios. Dave Ramsay show that it is often more has taken the place of the Bmw as those that are so full of George. I am Day Ramsay your host. Thank you for joining us, open foes, Tripoli, eight to five, five, two to five: that's triple eight, eight to five, five, two to five

MIKE is whether some Providence Rhode Island, a bike. Welcome the diver AMS you banks would take my call them I don't like that of the deserve, what's up just call with it question regarding my frock wife- and I are deaf Riverside besides mortgage and I'm being gone shy here or if I should be going by a newer truck or if I should fix the truck. I am the two thousand eight one. Fifty and I've got about two hundred and six. Five thousand miles on it. But I've got some. Howdy rot and I'm having a small issue with transmission. So I think the repairs are gonna, be somewhere between two to four thousand and the I checked mind with a value. The truck is worth, maybe seven thousand myself. Do you think that I should go ahead and do their affairs on the truck try and get the most out of it? I should I go you start looking for a new one,

The way you decide on whether it's worth fixing a car that needs repairs issues, Ok, if I sold the car, as is what would it bring this case? Let's just use a number: ok gosh I'll show you the example work. You think that you think the trucks worth seven if it was fixed up I believe so yeah. That's probably sounds about write to me. Ok, so, let's pretenders two thousand dollars worth of work to be done now. If, if you can sell the truck for six now, you'd be a thousand a head right. Not doing the two thousand dollars worth of work right, but if you can certainly shall it for forward now well, then it would be worth fixing it gives you make an extra thousand dollars by fixing it because four plus the two major dive, six

you're selling it for seven if you weren't honour out. So I do My guess is depending on what the world, how much of its body how much of the two thousand body work and how much of it is transmission. You said minor transmission, so if the transmissions five hundred the body works, fifteen hundred my guess is this: Truckle probably bring six. Worth seven fixed, and that would mean I would sell it I'll and I'd take that six months thousand, and I was getting ready to span and by an eight thousand Africa, or more, if you had some more courage to put with it, somewhere in that range. You know somethin like that, but you know. Sometimes people call me like that de driving a car. That's worth fifteen hundred dollars in two thousand repairs to be done that well, that's my will make that car worth two thousand or more. She not spin to them dollars to the car, because it doesn't cost to go up in value that much so. Instead, you sell it for whatever.

With salvager. What whatever it's worth when it's broken and are you put your two thousand with that and you my new move up a little bit in car, and so that's your letter cars pretty will come to the end of its life that that equation apply and if one so go longer and sixty five thousand miles without a doubt, depending on how they ve been taken care of, but in your case, You ve got somebody issues and you ve got some transmission issues, that climate change, the economics on them, James is where those an tamper, Florida high James Welcome today Ramsay Show is actually chirp. What I wanted to get some advice on So I have forty three thousand dollars incident was my wife? Does the US and about two years away from potential sit alone. Forgiveness at war- I put my put our funds towards or about thirty four

and away from our mortgage to get rid of the peer. My there were still in the whole debate in debt. I just wanna, which one would work, we better. I would pay off of student loans as soon as possible, even though the student unforgiving there's a generally- there do some research on stood alone forgiveness. It's not happening here. I'd like that There's like seventeen thousand people have made application and two hundred and fifty of feathers deadlines forgiven at times it's not occurring and the eyes: it's I'm afraid it may the biggest head fake that the government has ever given the american public the but but you know, I hope that changes, because a whole bunch of people had that is theirs prodigy to get out of bed. But your case, I'm gonna just get mustard loans, bite off, paying

home or paying down your home is baby steps, six paying off your student loans. It maybe step to answer you when you work national Bob, you pay off your student loans. And that's where you are you're just down to your last one and ensure big one and it's kind of a man s, the staring you in the face and making you making you think, maybe on it, I'll do something different hid. It hit hard hit it often and hid it with intensity ventures in Denver, high Spencer, welcome that I've ram. She shall I day thinks her My call to honour to talk to you future I advocate, for you to find out how I should protect my assets. That being said, give you a all summary of what I'm talking about, I'm a nurse my life's a teacher. We both fallen about a hundred and eighty two, two hundred thousand a year dependent on my overtime pay. I am, I think, I'm set to pay off my house for our house. I should

next month and I got Teenagers both are driving, and I need to find out once our house has paid off worst We do to protect it. He s for dead. Now they get an accident would get sued or something captain, then someone comes after a reserve with your income and the stage you are and wealth building it's time for you to add an umbrella policy which is, mobility policy, you can buy a million dollars extra liability coverage for around two hundred fifty in Colorado a year and what it does is it attaches to the liability policy is already part of your home owners and already part of your car insurance and it at the top of the list, drivers. It might run you a little bit more than two fifty, but it probably won't

and I would get that liability. What that does just adds another million dollars to the mix in case somebody decided they would come after you because of a bad situation now as a nurse, you obviously got professional insurance right right now that Covering that issue that Separate issue and but but as far as liability goes as the first thing, I would do there As you start other wealth later, for instance, if you start buying properties as rental property, real estate investments put those in an hour

and I'm I put about five million dollars worth of real estate in an LLC, and then I form another one, and so then you know that's so you're not there yet, but when you start buying up your first rental property and that kind of thing that's what you'll do just to keep the tart size of the target on your butt down. That's what you're trying to do so. I carry a big liability umbrella policy and I separate the ownership of things out into other entities. SK management strategy, motor fact we don't personally on anything anymore, my car anyway, we both the diagram folks news: interest rates have dropped again. My friends of Churchill mortgage can lock in your fifteen year fixed rates for around three,

resale right now, if you qualify their good for up to ninety days, cultural immediately call them, even if you're, just thinking about binary financing home. Do it right now before these rights go back up. All it takes is ten minutes to see what you can qualify for cultural, it alone two hundred or Churchill mortgage dot com. This is a paint advertisement, animal s idea, one five, nine one: animal s: consumer access, dot, Org, equal housing, lender seventeen, forty nine Mallory Lane Sweet one hundred, Brentwood Tennessee, three, seven zero to seven Thank you for joining us. America were glad your dear Nicole was in Seattle. Welcome for Abraham shown the cold you better than I deserve, how can I help?

my husband kind, a hundred and ten thousand dollars, and still between five different laws. Clear about ten thousand dollars each though we could pay off in the first year over them to loans are about forty, forty five thousand dollars each and they all have really high interest rates. If should we consolidate the two figure alone, How would you do that can get a lower interest rates laser then? I'm right now, along the way, do a shorter term with a low the strange, even though the payment would still be high shirk as you're gonna pay him off anywhere near by. The first three are laundered. Ten thousand another two: it's gonna get a lot longer the Panama some of your household, and so he makes Fifty I just a matter of urgency:

everything so I haven't made any money to nurse, but I'm getting out trying to get another job. I think I can get about thirty brandy and crucially, haven't thousand dollar give or take household income going forward and ninety whoever it is and in and you got some thousand not alone. So shall I go about a hundred ten thou love were the long time, yonder. Ok, making eighty? How fast your pay off a hundred and ten. Problematic permanently. Three looking around us about something I said taken: three: ok, I can understand if we can throw everything we have at the first three No, no that's starting in two and one year right we end two more years our thirty thousand is gonna. Get you really close.

We won't be able to pay all of their first three off with the minimum that the other kill. Oh yeah, you make us you're still making the exact same progress, it's just a matter of which one goes away. First, yeah I mean you oughta pillar three year, nope along five. I don't care paramount in the matter, but to get to it anyway. Here's the thing make sure that the interest rate is a fixed rate. If you're gonna concern, What I do not consolidated variable right and make sure it's a lesser interests right, there's! No doing it otherwise, and here's that it let. What is your current? right on those two big ones one is lying. On the other hand, so if you saved two percent across the board on those two that sixteen hundred dollars a year. Now sixteen hundred dollars, if you send it to me I'll, take it. Ok, but it doesn't change your life on a hundred and ten thousand,

changes, your life on a hundred and ten thousand as you living beings and rice and attacking these things, You're the secret sought to getting these paid off, not the interest rate. Ok, taking in time to leave them living without, but there is well you're harangue accomplices, I'm gonna, get all really tight budget on every dollar. But the point is big Harry principle. Payments are much more important than the interest rate, because we are only dealing with a three year period. I'm here shall, if you want to refinance, that's fine must be fixed rate, must be aid. I shall write than you are paying now on the two big ones and put it all up whatever length of time you want to put it on, but keep him That is not the answer. If not it's not watch. Solve your equation? What's gonna solve your equation? Is talking about living on nothing and throwing third forty thousand dollars a year at these

and then they'll be gone and around three years and you're gonna get their good question. The Vienna is in Jackson- Mississippi hide the Vienna. How are you today that you can go and how can I help Well, I have a lot of extensive research in your city in your books and he's gonna get some professional words of wisdom here. If they are situation, maybe a little bit different, because my husband is going to be easy to here. I'll, be forty man. He is self employed destruction and I really don't like he's gonna, be out there down in those man. How was important concrete when he Haven T eighty year old? I'm going to find out if we should be speaking. Would it draft snowball approach, or maybe we need to be any more core requirement finding and keeping up the old continent and didn't think of it. We can but written down right here after looking at the formula or there.

Retirement mostly planning and if we fifty thousand dollars a year then allocate the amount of mistake that we need and define at times be actors for his age of fifty Then we would need to be putting aside one thousand eight hundred dollars in twenty five per month for retiring. If we're going to achieve that goal so that my very first thing, I'm trying to figure out into the final deal is your household income where did he felt employed? But if we're talking about wanting us a year that taxable income on average, you got me all about what I'm trying to recall our heads against. I would say that you're going to be about eighty before TAT sounds probably right with other members. How much does the of my coming your house,

Carrying out we ve got our own approximately on a trailer. We ve got a total of forty four six. We do feel that seventy six, hundred on a credit card, and we could get approximately thousand indoctrinate need to sell the truck. Yes, I agree. We ve been talking about doing metaphysically drugs out of control. Sober. Have your annual income How can this was blocking you and then you do need to stick with it snowballing going clean this, because your most powerful wealth building tool is your income and right now at the door to other people in the former debt repayment so you need to do. You'd have snowball, stop all investing and you need do great great great, focused intensity, lots of overtime, beans and arise russian beans, no life, I'm scared about retirement. Much then I'm gonna live like no one else can get out of debt. So later I can live and give like no one else.

You'll be ok. You're gonna get there because I think you ve woke up. Thank you woke up in talking to you and listening to you and you've dialed in on this year. You really doing the research you're thinking about it. You've been on Chris Hogan the website and ran the riq. Is what you're telling me there and I'm proud of you? I think you're going to be fine but you're going to have one of the massacres, the when you don't have a famous, but a house payment them in lasting aggressively is very possible, but it's tough today with the car payment or a forty four thousand dollar pick up. That's conall prohibitive. To do all this answer. Yeah. I just work your baby steps straight through you're gonna, be there faster than feel emotionally lacquer there, because once you woke up, you became suddenly impatient, which is wonderful, that Be the motivation. That's gonna drive you through this process, thanks for the car Christian is whether some Lincoln Nebraska, I Christian. How are you doing. Good, are you better than

deserve, what's up, My wife and I got on your plan about I want to say two months ago. She had a pretty big medical sphere in it all a kind of started because she realised that financial trouble and I didn't think we were, but taking a big. Look at it. We were so dark. Intense paid off everything. The only thing left to cars, about fifteen thousand on mine and shows about what we know about thousand on hers. I'm planted the get that paid off by you more than a year, hopefully along sooner good. My question is I'm having trouble. I'm a worker always have been and when I saw the way I do it all, and so I got an extra jobs when good been working framework in nice.

I table its really get money Only downside is I dont get off or eleven night for run our towns. Your question might is that ethically right for me to be missing time. For my family, yes Ok, I'm on a temporary basis. It is, I did ok, it's not forever for short periods, your wife which, having medical issues because a death going out there and get up there. You are being your superhero I really am ethical for you do not do this care who argue with that,

what they want? Is America? What made whether new or broadly, welcome that eyebrows you share with you today then that I have had a wonderful few years and I both in really fortunate and our careers and also blessed with our first little one We in fact have been so fortune in our careers that, with we ve, had a point that we're pretty certain we could fairly comfortably. Point in time and I

contemplating I'm leaving my God to stay at home with her and with our excuse me the one and a half years and by I'm having a really high time making that decision employing the trigger the idea of leaving. What do you do for their work we're, not least for in advertising, and would you like I make about one twenty and what does he might and he makes about one forty much daddy, you gotta, I we have that were in baby cept, four, five and six wait problem. They have really with reason so fortunate to be able to say we will never tell him, I'm sorry. What do you do for the advertising for I work in a quiver, consulting team and I've been with our firm for about fifteen years now. Do you tactically do what is your job description,

I'm a director and our firm and- and I work with our with some of our corporate clients, iron reputation and positioning. Ok, look good brand position! Well, there's a couple days pop in the mud. Wanna age. If you're gonna quit and any want to quit, you should ok. There's you wanna be home of this baby, Your husband makes on and wait I'll nausea your own baby step for touchdown quit. Okay. If you want to be sure that that's what you wanna do, Actually you could say for ninety days we're gonna bank, one hundred percent of my check in. The budget as if it was his because that's what you're about to take on right That could be like your little acid test and then you would feel emotionally alot more comfortable. I mean we're just say out loud: I've gotta live on a hundred twenty thousand hours a year. Well, where

right, so yeah do it the second thing so that that's the basics year You should follow your hard on this there's nothing wrong. What you're doing you could be raising them, President the United States. I don't know it's gonna be a really great job. You have right there, okay, so the not the next one, but a president who has broken out the natural but the unless this one becomes emperor, but anyway not cut your elbows, but anyway they thought a set aside from the. Secondly, the pops into my head is you are doing branding Usually, we have a lot of marketing folks on our team here. The do similar things and you know listening with individual clients. You could.

Do a lot of that during nap time and go part time remote and keep a couple of key clients that you have act in a really good relationships with that would be advantageous to you and your firm and you know, go to half time or something and make sixty won't. While the kids asleep. I mean you really as far as possible from us in our time management type of a thing for that matter. You could afford a nanny to come in and and just to be there in the house with you for a few hours a week, not full time, but just a few hours a week to an you don't mean you to pay somebody ten grand a year unable you'd like sixty and still be there and be mom. You know for Ebay a full time. Mom still, but if they start screaming, while you're in the middle of a Skype call or something

look up from their now, then you wouldn't have that Europe should be a step in the right. That kind of thing you don't have to do that. But if you but but what is running through my head, as you are, very well accomplished, lady executive, and so my guess is you're not miserable at work. You just want to be with a baby, absolutely, and we ve been really fortunate, both of us and our criterion in August? Grappling with leaving behind what I've, what I don't I think we might want to scratch that it's just for Roma Self identity, proof sure thing you don't have to u dont financially have to. But if you just wanted, that's the way you could do, it has just keep a few key collapse if the agency, once you do, if not you can just station, bad branding as a hustle as a sap, and you gave a good is it morally wrong to leave that kind of you, no income and opportunity on the table. Now when who knows what you know,

what light breeze now. Listen you leave your brains on the table. You don't leave your experience or your education on the table there still in your pocket and if you need to do so, You can go back and do it, but basically what it Our reverse engineer that only this refers amusing today for some reason, but let's just let's just say it morally wrong to take a hundred and twenty thousand dollars a year to be where kids, they also that's a gilt trip. The other way right, so there's lots of guilt trip to go around and motherhood, but now you're not morally wrong terrain. Your kids, I mean you know how about somebody like Billy, Graham mother or frank range mother for that matter, Billy's, wife, right and you think. Ok, wouldn't you like to have had that job.

Would you like to have had Lincoln's mothers job you now? been morally wrong for her to go. Be a professional lady and miss out the training in the income or whatever. That now is not the whole thing is, God gave you sets of skills and to get three sets of instincts. And you know: you're gonna use those different parts, a different seasons of your life and right now, got a baby at home and you want to be there were that baby and you only got one shot at that. That's what you want to do, I'm with you, I'm with you I wouldn't tell you to do your knowledge of altruism, like that. It's not order fishing, we're stung by how fast you all build well, first, not fast Whoopi duped. Oh you got those looking at kids eyes when you change diaper Nagoya. To answer that question. You know: you're not morally wrong. Morally

and you're not morally wrong? If you want to keep doing it either, it's not a bad thing to be a lady executive. If that's what you want to be, but you gotta pretty clear situation here. I think you're gonna do something part time on the sidewalk, KEDO sleeping, because I think you're gonna much scratch that age, but that's not a moral statement or a spiritual statement or even a financial statement. I think that's more of a career coaching thing I just think you're gonna want that part of your brain activated, because I think that's who you are after talking to. But you just to articulate and so forth, but if you want to apply all of those skills to full time motherhood and not make another time the next thirty two years, I'm fine with that. That's what my wife did and she's very very bright and very well read and very accomplished and arms of now she's Fulltime Mimi, the keeper of Rufus, the Shit sue and somebody's gotta. Do it right thanks for the call open, follows a triple eight, eight too far,

Five: two to five: you jump and we'll talk about your life and your money triple eight eight to five five, two to five Germans on Twitter. What do you think of rent to buy schemes instead of mortgages? I think it's a really good deal for the landlord. Not for the buyer. The property is still in their name, your overpaying for the rent and the number of people, We close on and end up owning property in one of those is about forty five percent, four or five times out of a hundred those things actually close, and so what's it end up being high rent, you paid more for the rent cause, you thought you were gonna buy and you get sucked into, and I think the word you use Jim was right. Ace I don't think there's a nigerian prince involved, but I still think it was a bad deal. This is the diver amnesia.

further, I probably forty seven seventeen of iron short desire, so one person, the sharp and another George Washington says associate yourself with men of good quality. If you esteem your own reputation for tis, better, to be alone them in bad company George Washington read a book of the day that had a series of like the name of it Eric metallic

Therefore, now search lashly, my leg is riding to m e T Metaxas, I like said Diana, goes right, its seven biographies and one Amazon, George Washington. How I forget, I love readings of Washington because of his character by way of a good writer, but that our Allah biographies of great men and women, because they are, they inspire each of us to be great men and women them and Washington's history. Personal history is absolutely amazing. Studying settlement, but first I visited Mount Vernon many years ago now the men and women of that character. We don't see them in the year in the political spotlight anymore. Their national out there much on either side of the Isle Stephanie is an Oklahoma city. High Stephanie how're, you I'm dyin

are: you lie about life technical necessity almost eleven years ago, and it appears that the ban on or like a grudge good friend of ours is one yeah I made forty three year old worth, mother. Every boy am, I stayed home with my boys from a thirteen years. It is right. Now are one thousand three hundred and eleven and almost nine. I have completed baby steps, one two and three, and I'm almost done with baby step six, have they have paid off by next September. That's my go! Look at you, wanna go yeah. I had a horrible wars. The lens over in use the equity that downtime inducement earn money into the principle, but my divorce, I also receive half my ex husband for one k and action plan, and I also free some have thirty nine thousand dollars, and in my own I guessed right.

Canada was rolled. When I left my corporate job and had got about thirty nine thousand in it. What do you mean There are thirty, nineteen, thirty thousand and the money market. What are you? What are you making another thing I and so affair her mom, I endless and with tat before an alimony. I get it out. Eighty thousand dollars a year ok, the worst decree does not say anything about kids college. He did not the fact that in them? raving about fan cars for the kids, either I don't know anything about him, pay for college it all now. Beautiful. He has an outrageously good income, What is it? I don't think he has a problem with me saying how my because either, although that doesn't do much for my my morality,

me back out in the real world, but it's nice, and I am able to be able to say how much my kid so now, I am against revisit the few minutes, but for right now, you're calling about kids college So your husband's, your ex husband income, is what honestly, don't know anymore I'll. He I would say at about two hundred yards. As for myself, how do I so? Are you we understand- are you: are you I have no index Asian from him on a legally he's not bound from the divorce decrying anything, but has he said, hey out, you know I ve had conversations worthy. You know where something said something like, I think, I'll help the US or not, not necessarily college wireless card or anything, but I dont think he'll. Let them without either that's gonna. What I'm saying

unless that, unless there is just a really the relationship, it was really shower I'm and he sees the kids. Yes, visitation, weathermen really, I think. Literally that's what he can do. Well, obviously, You can begin budgeting aggressively towards kids college and you can start the kids about? Well, there's two or three things going on here. We no, that your dad's gonna participate or that he isn't one way or the other regionally not thrown him under the bus, but we're going to start preparing as if he isn't and that's gonna involve you guys. You know you as you move in the high school you're gonna start taking the ace, tea and taking a clash on how to take the OECD, as I see tee scores or now super scored when it comes to getting rules. And so you want They come repeatedly we're talking about you're going to school. We can afford, which is probably, is

eight school in Oklahoma Couple, a good one word and you'd get into that is Montgomery. That expensive- and I complain on working lawyer in school and I'm saving aggressively to try to help you, but I don't think I'm gonna in a position to do a hundred percent. So you're going out the chip in. If your dad doesn't look, I in terms of my own retirement? How how is it working with What I have already told you I'm forty three, and there's been an now amount and those pension that sounds like a quarter of roughly I a hundred nine thousand in time and right now, I'm kind of thinking somewhere in the next five years. Your career needs to unfold for your encore, why how do you got? What are you gonna do? I know now and well defined what I wanna be when I grow up its tiny, it's time,

my name because it's gonna be good for your dignity, not to mention your income, not to mention your retirement you're gonna be wholesale cause. You don't wanna be sitting at home kids are living on alimony right. That will be just weird. You know- be an empty shell of life. You don't want do that and a party that thirty thousand sitting in that money market account at that fine betting. There I mean I want you needed those calculate three to six months of expenses, call that an emergency fund and anything above that car, shut up in two pieces and lets say: that's all make up numberless. So that's twenty thousand than that frees up to thousand other thirty, the throw out some five twenty nods and get them started for these three age, and you can start unloading some money in these five twenty miles- and any other monies you can scrape body or budget. You can do that, but you're dead free did. You say the house was paid for two about

I go with them have paid off next September. I cannot support this payment, the same at my old house and another at all principle phenomenal and so they are a hundred percent debt free and all you ve got to worry about is two things: kids, college and your retirement, and or whatever you spend on you to get to old up for your next career right, I'm gonna, faithful right now, good, ok, you might make an excellent roasted agent, but my boy, a fun really good. One makes a lot of money, a really bad. When makes nothing so on Romania and rose to just make two three hundred a year, so you can make a more than him. If you got after it and got out there, and so this is fun, and I was shown houses in helping people get in the homes and that kind of stuff on it. You could be really good that that's great, yet, let's go are pursuing some of that.

It's actually a really good choice, because with teens you ve got a lot of flexibility, meaning that You know what our school, you mark your bought off in a few times and evenings or what were the almost one can watch over to anymore, but often used to a few things start adding to your income. Here but it's a great way to work into a career gradually step bust incrementally over the next five years, but I'm telling you about it, but nine year old is fourteen unit, being gear. You need being here you're you're only four years than from launch an you you for your sake and that I'm not pay about your retirement. You're gonna be ok on retirement you're, not gonna starve, but there's you got the whole rest your life to do something with your career, and you should you yourself fitting that show a good question. Thank you.

We hear that puts us our that I've Ramses shown the books like Sir James Childs producer killer, Daniel, our social producer and phones, greener Dave. Ramsay your host, we'll be back with you before you not in the meantime. Remember there normally only one way to financial peace, and that's too

dealing with the prince of peace, Christ. Jesus, hey, it's Kelly, says you producer and balanced whenever they Ramsay Shell. If you would like to be geared every scrape live on, the show make sure you visit, Dave, Ramsay, DOT, com, flash so register with love for you to cut the national until they hear story you ve got questions about retirement inversely are becoming an everyday millionaire, grow, bigger and broader. With momentum Chris Open on the gross organ show, I M excited to be able to talk to you all weekend and we doubt whether we focus on your calls and it's going to focus on building well investing and how to become an everyday millionaire subscribe to the Kosovo. Where, were you listened about gas? Hey, it's. Producer of the Dave Ramsay show this