I the headquarters of ramsey solutions, digital ramsey, show where we help people build wealth, the work that they love and create actual amazing relationships. Jaguar John ramsey personality is my co host today. Thank you for joining us america. We're going to talk about your life right in front of you. Talk about you right in front of you. The phone number aaa eight to five five two to five years ban and willpower? Michael is gonna start this, our asian dallas Michael? How are you gonna do?

Are you doing better than we deserve? What's up, nothing Oh I'm in an interesting predicament I've incurred about sixty k worth of debt trying to survive. Suit I started a company with four journal. endowed in austin Things are going well. This started right at the beginning of cobit and we progress for about three years towards the end. There were some, let's say, a vision. This is an me, and my partner ended up selling the company to accompany out of here, and, to the other gentlemen, are sick, yo and our hero, basically stall or intellectual property, and the problem lies.

I have about I'm roughly about a two hundred and fifty thousand dollar steak, I'm that I'm I'm kind of chase and trying to figure out what I should do and whether or not I should I should give up and call it quits and but things have come basically sucked me dry and I'm I'm getting kind of desperate, so yeah. I was hoping hoping to get some guidance Well, I don't borrow money. I am done. I hate your position because this kind of stuff, Redneck, it makes me mad. I want to fight to the death and you don't want simply don't have a war chest. You could go, you could go another sixty thousand dollars and for years and that instead Firstly, and this is a problem, we think we're all sure about the court system is that it sucks yeah, I mean

even if your right hand, songs it takes for four and a lot of money to prove your right. So no one ends up winning as you figured out, but the lawyers even when you win, you lose an end. The other opposing party, one of the gentleman his wife is a lawyer. You that a partner affirm, so they ve been very successful despairing, and every which way they can, you know they're, just kicking the can down the road dragging it out and make it trying to starve you out. It's not a bad strategy,

on their part actually but yeah yeah poor. That's why we hired him. I mean you said: you're a stake in this as two hundred and fifty thousand dollars, maybe maybe that so that that's essentially what my my payout would be, but because they have stolen the intellectual property and done a split off company. The company who bought us pretty much put a pause on it. Until you know everything is resolved because that's what they paid for them and through, I just on a number of loopholes are on board you. It s basically been able to pool all of the, I guess most relevant information and at last critical things that we would need, and you know they're they're, really just kind of holding it at this point. Just you her eyes were harm. I saw the until they are not competing with you with the ip yet, but I've but

and on your dear sale. Holding the otter rack correct yeah date they have, they ever be included like they're, starting a company that is supposed to do. Something similar the company that has to do, they have deep pockets. Yes, I've got to deal with them. gotta go out there and we want them fight it and tell him you'll. Take your deduct the yom. The legal fees from there, the state that they owe you yeah Oh you two! Fifty! If you win right, if you don't like company that this has got nothing They got a competitor in a market place and I don't even have access to I pay right now. You're telling me correct. Yeah show that guy to win or their sale is bad and what water? We are saying we're not gonna pay you the two. Fifty until you give us what we bought

included the ip right correct now. If I'm, that company can? You came to me I'll, go come in the nose because I got the money and I did this deal to start with so no words. They owe you two fifty if they spend one fifty on this together, you're gonna get a hundred yards, the more you get. Otherwise. We have a number of investors on probably the small it, but about the total fail in the company was tat. In dollars now. Why would go to some other than under the same thing? Yeah go Gaza mile. I can't I can't do it anymore. I can't I'm not financing this on a credit card. This stupid. I can't I'm not! I don't have big enough borgia to stay in the fight in. A rich man. So I'll give you. If you can credit towards at our or I'll even

scale my share, and then you I'll. Take my share of the legal fees out of it and pay me out. If you win good luck, I'll, be happy to sign it over to you on that basis. Yeah yeah! Well, the the the issue is, and I'm probably smaller fish in this entire case, I'm only twenty eight most of these people are forty. Just you no longer career little bit more of a war, just like you said you were my only concern is one. If that were to be the case, I would get some sort of out and then they end up losing right. Do you gotta play out yeah there taken the chance than not you. that's why you would discount your share so one of the other investors said: ok, work continue the fight. You can't I will continue in on your behalf. We're gonna take your programme apportion the future legal phase out of

share and were also discount, your shares and you're, not in the fight anymore. That be a deal for you. and it's not a bad deal for them. Does your tappin out either way. Does a few tap out and do nothing and they go when you're gonna get the full thing such a bet. They offer them if you offer to let them continue the fight on your behalf and you give them credit for that. That's a better deal for them, a minute that cause there's like ten, doing, people play it unless you're sayin yeah other, should not. Issues are complicated mass while galley some people's children, yeah yeah, that's sons, very, very, very stressful. There's a lot of money at stake. You just can't stay in it. Michael you, you've got to find a sugar it keep you in the deal, yellow, yak ass. If he tries to do so mess around and spend all his stake on warriors fees.

You won't, even even then he got at least he wins, but it gets nothing. That's all I'm saying on one occasion, rent in order to evade eagles trumpeted thou northern debt. and then lose. Oh he's, yeah double completely square, So you just gotta start like what you gotta stop. They always on my part to somebody, the buyer or the other investors, or somebody at a discount in today or if I want to give a character, that'd be awesome or, if or better yet I would discount it and offer to have them reduce the amount by my share of the attorney freeze going forward, my one fifteenth or whatever that means are being accused you're an untenable situation. This is why we don't believe in partnerships around here boys, girls, the only ship that won't say all is a partnership. This is the ramsay show. look life insurance as one job too. Place your income for your dependence. If you die, that's it so.

If someone tries to sell you high cost life insurance that doubles as savings or an investment strategy scams, whole life, value variable life than run terms. From Zander insurance is a much smarter way to protect your family future zander shops, all the top companies to find you're the most affordable term life rates. Then you can go build wealth with what you save not by falling for those crap Paul. He's go, zander dot com to learn, more, that's zander, dot, com or hundred three five. Six, forty to eighty two. A guy's guide, wash all rooms. Your personality is my co, we're heading to chicago land in the morning doing a smart conference there, friday night and All day, saturday, all the

is your personality speaking on career on life and money and, of course, on our anxiety and all the other things that Dr John maloney talks about. So we're going to be talking about every area of your life in one way or another, it's a dialogue, our day and a half long adventure. It is obliged as a lot of fun if you're in the chicago land area will be on the willet creek campus, utilizing their sanctuary. to do the event and we'd love to have you got some tickets left check it out at ramsay solutions, dotcom, slash events also? You should know that the first two hours on Saturday morning if the decided we're gonna, live stream, that free, there'll be a little bit from me, but finally, jade and georgia talk georgia camels and talk about how you can break free from money stretching create the debt free future you deserve. So if you want to hear a free money, talk from trade and george just union by four austrian, got ramsay solutions, dot com, slash alive,

in your email will send you the link on Saturday morning you can watch that law over and beyond our flow more than ours, worthy content, total there for them, Whole thing. Sure we'd love to have you guys and come in and join us if you're not able to be in the chicago area if you're in the chicago area. You don't want to miss this. The smart conferences, You know when you leave us more conference, you're, smart, that's good! Our question today comes from neighbourly your hub for home services. They are your one place to find reliable, hbo, say plumbing and electrical power Iders near you, brands like air serve MR router and mr electric of professionals ready to help stop wasting time. rolling through pages of results gotta neighbourly dotcom com help you good people. They are in. Today's question from David in Oklahoma. He says my wife and I have started financial peace university way to go? We're on babies? two, and we have some questions. Currently we have for vehicle pay

and I recently lost my job. We're live off my wife's salary in unemployment payments. We keep hearing our people selling their vehicles in buying cheap cars. How is this when you're upside down very good upside down on all for vehicles and we want to know how to downsize. We are thinking about surrendering the motorcycles, but that will end up costs it around. Sixteen k after we sell them. Any help would be great as we are determined to get debt ok, so I actually have a list that they ve given me here. So they ve got her truck, which is a fifty two dollars a month by the way they ve got her own, I'm sorry that was his truck. They ve got her suv, four six hundred seventy seven dollars a month and then it got to motorcycles once fit five hundred. Fifty five are the other ones fora. Now he doesn't tell me how far up

side down. They are I'm going to assume she's sixteen on the motorcycles yeah wrong. Well, why do you think he's wrong? Well because he thinks that that if he sure, if that they're going to give him full price repo. If you do a voluntary repo, when you take people, the keys they sell your crap on a repo lot o I'll, be all right. He said, surrendering don't do that ombu, that if they shall it on a repo law, they shall it for below wholesale at a repo brush, and they shoe you for the difference. An angle by sixteen dotage, it's twenty five, if you do that, so you don't Surrender yonder voluntary possession they may take em at some point? If you can't get a ride up on the payments ben, but don't ever, all entirely because you lose control of the sale price, and then you ve got to work out a settlement for the difference, the deficit balance. So no no on the surrender. Oh yeah debt only trying to sell em. Now these cars are yeah. Eight hundred.

Two six hundred seventy seven dollars, that's incredibly too high for car payments, I dont how far upside down. They are again, but the idea- is how quickly can you get? Some cash stacked up all right. So what I'm doing is, if I'm you, as I know, you're on baby cept too, but I would pause baby step to four seconds. could stack up all the money you need to get out of this new cause. Essentially, this is part of baby step to serve. You got a lot of your margin going out to extra payments stop doing now. And start stacking up as much cash? Is you can and since you're baby step to. Hopefully that means that you're working over time. I know you lost your job, but right now now is not time to wait for your dream job to come along right now, get any jobs. You can write around a lot over the one we have them re entering honour. I can drive cause. You got a lot of things to derive. That's your look! delivery services out. The was you now, but the kids,

motorcycle to deliver pizzas, so you've got three things you can do when you're upside down want to stack cash and cover the difference, so you've got a truck that, let's just go get past his kind? No eight, fifty to puke, but the the her issue okay, six! Seventy seven socio sixty thousand bucks on the issue bay. and when they look it up, it's worth fifty a mega those numbers up So let's say that made major turned down our lips are now. How do you cover that, while one you stack ten thousand dollars and then you put that with the money with the buyer, Buyer has fifty and you ve got sixty now you pay off Cuvee and they send you the title and you give it to the buyer. That's one way second way is borrow the difference, that's from your local credit union or for god's sakes, six hundred eight hundred and fifty two dollars. If you borrow the difference on a credit card,

still come out. Yeah. Ok, you you're already eight brazilian dollars and that you have your credit. I got one bezonian dollars in that yeah. Now, just not now your truckling, oh well, that's kind of because lobbying, clueless oh yeah, even if your shredded a shot and you can't get a good rate from us, credit union, not using only wrote on Parana credit. I still dare you just move and the debt relief are and then the third thing a modification of that, if you Truck loan or motorcycle loans are with your local, Linda, your credit union, your local bank go should with them in person and say hi, I'm employed. You're getting ready to get a truck back. You'll want it. I don't think you do turns out this suv. We owe sixty thousand on it with you guys its work

fifty. You need to help us get out of there, so you don't get stung. This is you talk Do your credit union or bank manager in person not on the phone and for god's sake, not by email yeah, go sit down and look I'm in the eye in person and what we want you to MR bank manager, is allow us The sign the note for the difference when it shells so we're gonna put the true, though suv up for sale for fifty two thousand, it's gonna for fifty and we're gonna come in here and we're gonna son unsecured note for thousand dollars, because You already have an unsecured note for ten thousand dollars, because you have a say fifty thousand not alone on fifty thousand dollar asset. so. You are already ten thousand dollars on secure all we're doing with this transaction is admitting it and lowering our that by five six Therefore, we have a higher probability of actually paying you because we can survive, and so you talk them

converting the upside down portion into an unsecured note, which bind it's already where they are there already unsecured for that amount, and you can do that if you go in person and prevent this logic to them, plus Europe, you know you're bankruptcy looking for a place to happen right now and in which case they get a bunch of new truck sittin in their driveway at the bank and they're gonna. Get nuffin yeah cause so you for the deficit, you get nothing in bankruptcy. On that absence, zero lady- and some tells me- I don't know- I could be wrong david in Oklahoma. But something tells me with these trucks in vehicles. You got more, stuff lane around to get rid of you got riding lex toys he's got riding mowers, he's gotta pellets on he's, got he there's some stuff that can be sold in liquidated fort stuff, a bunch of look at everything. Don't tell me you have a tractor I'll kill! You don't hurt:

don't tell me, rather so the exercising violence to show the hacker now mean. I know this guy is. I was this guy and I'm just a boy. The collection always react in the problem of the border Like storage, we collect payments with them. If we're broke people do they have a golf cart? They might have a golf cart, so I don't do that that gathers they for sure of zero turn that six thousand bucks for sure I was shocked. I didn't know that a lot more cost I didn't know dave until I saw him sitting out there and I was like wait a second. You ve got lot alone: moors their nicer and more expensive than my first three cars they have that cause. Might not my first request. at bluetooth, I'm under science. The tractor has bluetooth zero turn. Definitely what you have to listen to your tunes. While you take ten minutes to mow your yard, she thinks my tractors sex, that's what y'all are listening to there. You go! That's it!

You think you're broke as you are sorry. Duration holding there we go. This is grams russia episode, sponsored by better help, hey folks, doktor john bologna. Here times, it's hard to get our brains to turn off, and I know it Talking about I'm the king of racing thoughts they ve kept me up at night. Got me up early, kept me from Canada, with people in generally, just prevented me from enjoying life. If you find your start to raise it inconvenient times? A great way to me, those thoughts. Slow down or stop is to talk them through with a trusted person there, He gives me a place to do just that, so I could get off the next thought, treadmill, learn positive coping skills set. the boundaries and find some mental and emotional peace, and it can help you to if you're thinking of starting therapy give better help. Try better help is convenient because it's entirely online, so its flexible and can fit your schedule just fill out a brief quest.

Near to get matched with the license. Therapist, you can even switch therapists at any time for no extra charge, so take a break from racing thoughts, with better help visit better help. calm slashed aloni today to get ten percent off your first month. That's better help h e lp, dot com, slashed aloni. jaguars or rams. Your personality is my co host today, Derek is in san diego high, Derek our you do what Mr Andria, how about you author better than I deserve. What's up glad to hear glad here are basically I wanted to discuss my current situation with saving money. I'm twenty years old I make about a hundred and five might current role and another twenty five thousand. and inside work through flipping item, and I am feeling about. Four thousand dollars every month. After all, my expenses

car loan or anything of that nature and Sometimes I worry that you know. Maybe I'm not enjoying life had much as I would like, because I'm too so focused on bidding money and budgetary, calculating net worth every two weeks did your guidance on when you really decide and how you can tell you now that unita started doing life more with the money that use time you got twenty five common animal slavishness. What's the other which are core income w to ever you two hundred and five thousand. Ok sure you're making a hundred thirty k with your shot. Hustle growth in europe. and like for a month mocha. Yes, yes, I think, that's great, you know One of the reasons that we walk through the baby steps is it kind of gives you ah m guidance. for each area of your life, and then it also not only the guidance, but it gives you the permissions to do what you wanted you with your money. So in your case, if you have no debt

right, you have no doubt at all of any don't have I have accorded. eighteen years old you have any debt of any kind none at all no stood alone. My father's too, than others in an agreement we had The student loans is sixteen and caused whose name is it in in my father's own line, if it if it's in your There is an old saying it's either a pair plus loan and his name: origin urinate. I believe technically the mining and technically it is. If it's in your name, you gotta pay that kind of like you're in debt. You know yeah paid off like technically okay. So how much You have saved like how many jobs lied.

We'll save right now I have about one hundred and thirty thousand now much interested in one sided about sixteen thousand good paying off tonight, paid off now you're savings. Is it what? Whereas it is it just sitting in a high you'll savings account house, some vanguard, accounts of and also for one k and about fifty thousand in how to bank accounts. Okay, so the six. Thousand. That's in the two bank accounts poor pull some of the sixteen thousand to pay off alone. How much credit card dogma of alarm I reviewed of it. value for a long time, ok angle shorter So then you under its ok, then you understand the baby steps, so your Are you already investing fifteen percent or more? Ah, yes, MA? Am where do you live? Are you renting re owning a gloomy rat? Ok So now we are now that's why I say me for were using the baby steps to figure out what we say: he doing how we should be spending.

So at this point, if I'm you, instead of over ending the fifteen percent, I'd probably stew focusing on a down payment, because that some point you're going to want to stop renting you're going to want to have control over that biggest line item on your budget right, you don't want to rent forever. Rent is going up. It's always flow waiting right so If I were you instead of doing over fifteen percent, I would stop that cut at fifteen percent, and then I would take extra margin, put some of it to a down payment right. That's baby step three b and then you get to how intense you want to be about this right. You can do if you're going just go hard and paint or if you want to pull back, it's like you know what I'm young I got Well, it doesn't have to be that intense at this point. Does that make sense, you're, you're running on gazelle intensity and now that your student loan is paid off, you don't have to do that. So what I do I pay your stood alone off your dad as promised to pay at. I heard you loud and clear: he can pay you back. If we want our political reality- and I don't want this in your name anymore- I'm gone, shall you pay it off

They show your one hundred and five thousand and saving she'd been reduced by sixteen thousand were taken we know that an allocated to your emergency fund of three to six months of expenses, the rest of it. You can allocate as a down payment back your question: when do you enjoy life now now you need budgets from fun in your budget, all you do safe and you didn't if some foreign, your budget and you need to house from generosity in your budget that you don't have to and you'd be helping some other people right. You make a hundred thirty thousand luxuriate twentysomethings. I'll do not have any debt yeah you ought to have. Have some fun and your honor, babe salmon and by some and yet from generosity, always have all three things in your budget. Once your stage, So, for the rest, your life like Derek when china a check in from a publisher something these days, its extra money,

We have a formula we apply to it. Okay, we take out, you know forty per cent for taxes, ten percent fatah, at least fifty per cent. Now then, and after that, ah because rich people pay all attacks when you know that not one of the percentage. Let me help you with that, but anyway, but sad from that the set showed them apply they put the other fifty percent, no the three things and we have also set person age. For more fun me were generosity and more investing out of that. Other. Fifty ok like one of my and does that he puts thirty in investing. increases lifestyle by five and puts fifteen into extra generosity, and that get you to your fifty yoga showed the unit you work at but be my point is not necessarily the percentages or even that you have to have a formula but you always have all three in there absolutely have all three and their then you ve got a pretty good bouts life because once you're out of debt,

other than the house which you are today. Could you just paid off your student loan? A few really follow us. Now and then you will have your emergency funds set aside. Want your best buy me step three yeah you go from intense, which is what you ve been living to intentional, intentional means were investing some additional generosity and additional fund. A that's and you can show if you been wanting to upgrade the dot dot dot. The car that's the phone, because his cars old, LUCA you gonna, drive and better than yeah. Let's, let's stop grade the car and you probably have the money to do that above your emergency fund. I, even after your path stood in london. I hear you because he had at least sixty thousand sitting there. A hundred four out that's robots, it would, I think, was invested. Oh well, but it wasn't invested in irish. He said for one k: I was ok, we don't touch me. I don't want you for okay, that's good yeah, but way either way

still stock and end up being the same thing. So good questions are good question. Thank you for joining us shut guys that the things that we teach they're they're everywhere I mean you go through financial peace university. You get a detailed line by line thing of okay, make sure what you guys talked about on the loud stream of an iron retro make sure you don't have a three thousand. Our tax reform right say: adjust That's one thing: we teach make sure you're not sitting on whole life, life insurance make sure not shitting, on investments that are non retirement, while you're sitting on debt on the other side is right. I sat down to one thousand bucks and get it all clean. You know start donated your debt, make sure your work international ball, smallish, two largest malins nights right or interest rate is make sure your own, a written budget and in agreement with your spouse, in others about eight or ten things like that that you do that you go through. If you show your following us, then you really doing nets ray

the baby steps the baby steps say when you're in one through three temporarily stop all investing. you're in baby step, to get not a sad and while you're getting emergency fund bell, but here's the thing doll investing not just down. I started, I started follow you, you can't you either doing better thing. Are you doin? Our thing? Ok, show this stuff works, but to the but everytime you die. back one of these eight or ten things, and don't do that. You show your but down what I don't care. If I just slow you down it's a prescription when you go the doktor and they say you're sick what you need and they write it out for you and taken and in you don't go in choosing. Am going to take that one are not going to take that when he know it. Don't give me that medicine gimme this one. If you do that, you'll get sick and he could die. You know the number. I read this the other day. What book was I reading that customers, Jordan, peterson's book, who I was asking to only about this. I couldn't leave the number of people there

out of the doktor and the doktor gives them a prescription that never fail yeah and then the number of people that fell the prescription and don't take ace pink and your message with your help, I mean so what was the point, Well, why went into the healer to do nothing? That's dumber than crap? I do not understand scotch horizontal. I mean like not yours, but I want to go see one looking people die There are no negotiation, but I want to, but if I'm gonna go and we do it the fair Then you do not understand. Yeah, ok, show ya, do this stuff exactly not because it did not back me we'll make more money. If you do it's good for you, hey folks. This is coleman. You know we're all trying to win personally and professionally, but the fact is what we're doing that we're getting older. So it's important to do

we can t, get healthy and stay healthy in eating fruit and Vegetables is a fundamental part of that, but only one in ten people eat enough fruits and vegetables every day. Balance of nature can help. Balance of nature is a powdered supplement, capsule made from thirty one type of whole fresh fruit and vegetables. the use in advance process that locks and nutrition to help. You have an active lifestyle and spin the time with your family that you want folks, health is it. only about longevity. Just like guinea, your work and money life in order. It's about quality of life, so go to balance of nature. Dotcom. An inner promo ramsay to get twenty five dollars off your first order, plus a free fruits and vegetables travel set an lock in your lifetime price. If you buy now as a preferred customer, that's balance nature, dot, com and promo code. Ramsay for twenty dollars off your first order Jade watch all rams. Your personality is my co host today. Thank you for being weathers. Melissa, isn't

beale alabama, I'm militia. How are you better than I deserve mister. I'm here I bet you're just the thing just this our thanks and ally of ale lower alabama come on, and I've actually have to put question one I'm curious for tee what a good ratio is between home value and networks and then, secondly, a kind of become the person in my family, that people go to for advice so to help myself be a little bit more efficient charges that purchasing man he paused followed them or break our heart back. We would aid money, call up. We might get your bulk deal. the ratio will change, as your network goes up? That's not a! here's here's my point

we found among millionaires the typical millionaire we studied the ten thousand of them for the baby steps millionaires book was that the typical, person from one to five million dollar net worth they often time shall like we're gonna make a half dollar network and we, the father, thou nor paid for house and about a million dollars in our four one k and roth IRA so about a third of their net worth was home when they reached that level as you increase, your net worth your home should be a smaller percentage. So a hundred million dollar net worth you wouldn't necessarily wanna you would. We would not want thirty, three million dollar house At a hundred million dollar network that would be inappropriate to asia, one third Dutton apply, then right and if go down and usually ok. I got a five hundred I was not a net worth while

a lot of times there you're no found the house to be about half of it paid for a paid for house. so I have to have it at our house to operatives margin mutual funds in four one gazing at five hundred thousand would be fairly normal. But that's the point is not an exact, but it does. It does shift the further up. The net worth goes. My home is a very small percentage of my net worth these days, but I'm really blessed mean the buildings were sitting in are worth six hundred million. Shy you know that's certainly my home as a small or much small percentage that sir It would be absurd for sure not to do that. Show so few the point of an I'm asking this question because most I don't know you're going with this, but if you're at the point we're like, maybe maybe I'm looking to retire but you're home- is the greater portion of your net worth and you know, you're you're assets, you're investments are not then

Maybe you think about downsizing your home, so you can liquidate some of that money. Now you might because the homeless, if you're sitting there five million our net worth in a format, our house allow of your network is not earning an income that right, And unless any man in the amazon million dollar, how sorry for I'm trying to point thirty four? two point. Two million dollars worth of five I know that people have today. Does parliament just kind of like if I weren't as perfectly upgrade one day? I just don't know what you cannot great. You can get up great, you can you know, but but I upgraded at a two point, two to a half. Now I wouldn't wanna go that far. Unless you can, but I mean every dot, you know the the high, because that is at this point. Your home is yes, it's an asset, but it Consumption because it's not producing income so out of the two points, to every dollar. That's in the house is not income producing so the fewer da,

in the house and right now, you got about one. Are you gonna what one point: seven that is producing income- and your five hundred, but if you went up, you noticed seven, eight hundred thousand, I wouldn't be outlined at all, and also your we're gonna be increasing. While this happens, whitish chow, you killed it at thirty four years. Now that you're stuck at girl. What you're amazing how'd you do that. Yes now everyone does the same thing. The same I'm pretty boring, pretty boring, you go bombing d you don't you have a life, I mean. Did you just invested the state out of debt? Tell me what you did on put words in your mouth, but yet there I mean to be fair never in babies, to some kind of fraud but no, no you're, not you're, just smart now a measure coherence you can go. You go kiss your mamma. She

germany, that your family, a common sense, I kept out of debt, they just killing your journey by persons? People can't pronounce. It just goes to show you what a difference. Makes when you avoid debt, your entire life, as opposed to what I did what so many people do, which they got into debt and at dig ourselves out, then they had to start watching income. about three hundred thousand. Would you do the engineer: number one number one career veiled in the millionaire study by the one that occurred. The most often second was accounting. Third was teacher, so You referred all the man you fit all the math, except her le bit ahead like way ahead. You're amazing, well done, can only go very cool talking to you, you're gonna. Do fine you're, not gonna, make a dumb decision here, but it's a good decision cause net worth is there's a number that you can look at

tell if you're winning with money fight go score That is not a number that you. Joe your winning with money? Because you can you can get you can your boss? walk in today and give you a raise of a million dollars a year and your fico score doesn't change a damn. Yeah, that's yeah! That's true! It's like the fica score is Have you were gone. Dave to a restaurant in the food looks really good. I get look on the outside and then you eat it and it doesnt taste anything like what you were hoping it would taste like chemicals baja like those hotels in the bahamas. The website doesn't look anything like it. Yes, yes, it's a catfish and that's what the credit score. Is you do I've gotta primarily score. Is the finance joke that's it you're out of hers- is that for thirty years god you're hurt your first maritime fight go score. Is the financial catfish credit card. Is the financial cigarette? That's right! It's gonna

being the worst thing that you ever did, but back when you, young. All the Google kids right. Oh my god, it's exactly what it is. It's a complete lie. If the commission been out o shopped to look like you better than you is that's right cause you don't look nothing like that are saying the out. So the credit score is one hundred percent derived from your interaction with debt, the algorithm that fair eyes developed, which is that the organisation that creates the fight score says that every element of low the creation, the mathematical creation of you has something to do with debt yeah. How much do the timing of yad or you'd light on your dad. Did you pay off your dead early these elements runner run into your credit score. The. If you had a twenty five million dollar net worth and z road debt for six months. Your credit score. basic zero, that's a trip! So your network,

What militia doing is the way to marry the real! Why what's the opposite of a catfish, they blew a bath. Fish, real food, fish, beauty queen. That's right, that's right or you're, not worth as your beauty queen and your fico or as a catfish, its fake winning its face. beauty, it didn't really they're here, It's an avatar. Yes, we can really do snuff. We can this or the here the internet, the internet's good for something great analogy so so show melissa at thirty four years. All two point: two million dollar net worth inherited. Nothing is giving away ramsay plush witches financial retribution, firstly in every dollar together, yet it's what that is giving that away in bulk to her family when they ask for financial advice, because they very wisely come to her thirty four years old, with three does not our income in a two point: two million dollar net worth a hundred percent debt, free five,

in thousand of an entire house. the very wisely ask your advice. When I tell you I don't know if you're broke friend, make an funny you're financial plan, your ride on track, yeah, that's true, but if you're rich, militia telling you you're doing good. Now, Melissa tells you you did good minutes She knows what good looks like well, she doesn't have to give advice, she just lives, advice and they see and when and they just saddle up they can. We buy you a cup of coffee and tell us how you did that's the fruit. The fruit doesn't like shit. It is very attractive yes to when it is, as opposed to when that's right, catfish real! the real deal noodles this is the rooms issue.

from the headquarters of ramsay solutions. The rams Asia, where we help people build wealth, do work that they love, actual amazing relationship, rejoining as america, jade marshall Ramsay personality is Michael o today fill in green bay with constant starts this hour. Feel how are you better than I should be Dave you the same. So how can I help well dave My question is my wife and I are looking at early retirement and we ve taken time over the last thirty plus years of being together cutting? saving as we can, and I really want to take I'm too are, if we can bad more. We do a bit of alan locally as well as nationally and with our kids groaning arm want to find out. If you we're in a position where we can now

not really join the fire crowd but dumb tap into? we don't know that show off your. How should fight for our houses? Pay for good for you: what a world foreign quarter good for you go. What's the rush, yearnest egg look like Currently, we ve got about two point: two an ira and four one ks combined we currently have an additional three hundred k that we ve invested in Bonn barnes currently that divesting october separately, we obviously on at the age. I'm montana gonna be retiring. If we do at sixty, my wife will be fifty seven. I'm looking at. So security deferring out at a sixty two would be like twenty three me sixty seven, thirty, three the approximately undercurrent schedules. For me, my wife at the sick, he said be at nineteen hundred yeah,

we currently have a pension that up. If I took it early What I'm looking at not doing, but it be about twelve hundred a month. If I took it at sixty two, it would out to sixteen and out sixty I'd be twenty two hundred now. What do you guys know? What are you guys, nato months to live? Well, Well, that's good question. We think that a carbon as we want to it were sitting at around forty five thousand on a monthly turbine are to properties. The agenda the comfortably day, we ve always concessions in tehran. Madame geography, That's why you to be what bergmann each you too! You know that include travel alone. You need to know what that means that, if a case right now you can survive on forty five, but I want you to thrive. Ok,

told me that's what I've? What what we done? T show two point: two were that invested in good mutual funds and were you accessing it if it made eleven point? Lumping six percent, which is what stock market average since it began in a laboratory for two thousand a year we're out right now, that's kind of year, so the other thing I forgot to mention is that we do currently have emergency fond of fifty hey in savings. No sooner I yield. But again, there were. A kind of thinking is probably with the four percent Nor thinking that too, is finally a little mouse. I want to get your direction on. You know if you think it's viable he pulled the trigger and if so, I think the forty rules- absolute bull crap, it has nothing to do with anything. That's crap that people up on the internet. So let us about the reality, the reality is for the last seventy two years, the consumer price index, as average four point, two percent

the measure of inflation under Biden. We had one year of nine point, six percent, but the average inflation rates. The last ten years. Two point: three percent, ok, so inflation if you average inflation at four? That's fine! Ok that that's a four percent rule! You can count on so over your cost of living, your costume, loaf of bread buying electricity, gas link for your car for the next forty years from sixty to a hundred is gonna, go up at about four percent a year, in the last ten years at what are gone up. Two point: three percent: a year average: ok, now do that and you ve got it invested in just enough p, five hundred, which major just performing at the market level, of eleven percent Levin managed for war is seven so mathematically, if you pull seven out of your account, what you don't need to do, you don't need the money, ok right, but it

If you pulled seven out of your account and left for in their your account, is gonna grow by four percent a year show it will grow by enough to where the next year these seven percent will cover the increased cost of goods. You build inflation in the system and that system right, there would run mathematically in perpetuation Never limited. Take your maesteg show. idea that you can only pullao four percent, absolute hogwash. Ok, I can show you know now, do you need love more than four percent now, but that's not a rule that a rule some fun actual nerd came up with? That is done? down on hyper conservative and they're, not using good sets of assumptions so honest I call bs on that anyway, not fashion at you, but I get this crap from these people all the time, and occasionally I need to hit back shaw. Just did ok now, the ah. So what would I do? I would set up your accounts. to draw ninety thousand a year

minus your pension, minus or social security. which probably gonna be your to pull off sixty thousand. So you doubling here, your doubling you're inside your point. Sixty grand opera, two million your pulling off three percent you follow me yeah, No, I do you up in it and then I'm gonna get. Two million still can keep growing right on. Nor I follow you and I think we are planning. cabinet because again we get the three hundred k that we know: roll them that'll best an immature in october and on that kind of stuff we can fall back on we're thinking that we'll probably roll that back for another? You know if it maintains that five or above I'm just have access to that. When you say fallen back on what we mean by that, won't be a favour by weight on the stock market We have no, I'm thinking that we in the event that we would have some need for, because, with our kids and stuff, you know, obviously, the growing and on professionalized, but if we want to do for vehicle vacation

or a winner in four or whatever additional funding. We'd have the on original. You know sixty seven you're talking about after pensioners or security? If it was just a day, your cache and cookies rather three hundred uk there could be shooting in an investment internet bill. yeah in writing. Hu. I follow you much. Why should I one or more do with five percent numbers: five percent numbers for short term money. You might percent or how you'll shavers get right now and that stuff you need to access next six months, not the next fifteen years so got you got enough money, you're, not gonna, be fooling with your money. Do you need to keep it all fully invested and just pull what the pull off the income out there, the out, and use, whichever source you want to use? I don't care, but I would be in good growth. Stop me funds. That's what I am sixty three were much is, I'm uphold a dime out. It's all sitting a good girl start mutual funds, I'm not poland, an income off I'm consumption, workin,

yeah and show you know the the, but the point being that that You can count on what this year, I mean and what they are simply this week. But it was like seventeen percent last while much. What am I if you rose southern border, which is such a stock market. If you russian good mutual funds while By should around whining about the Biden economy and how horrible everything is in the interest rates are ridiculous. In the housing market are gone to crap and error, talking about alleged. Meanwhile you're free for one k went up seventeen percent nobody ever taught. About the world's not its lesions, good news broadcasts the way. If I were him, I would wait till he's sixty five on that pension. He doesn't need the money, so he may as well wait, so he can get more of it as long as by healthy, I would push on return a bourgeois prevention and social the browser by shouting. This is the rams

very large all rams. Your personality is my co host. Today, open phones, a triple eight to five five: two to five: to wrong is with us and wash palm beach florida. I do wrong. What's up. hey mister romilly hurry you doing today is only do. How can we arrive to basic Really, ah I'm thirty, I just turned thirty Two years old got married last year orbit, not beautiful wife, she's amazing. Ah we, while, if this april we decided to get up. Our own house may be living in the ever very traditional value where we live it up our parents, but well, we ended the time that we couldn't find. How's, your sheep moved down here. Ah Appleby got married, be decided by a house. The house won't be built until next year, so we

we talk. We spoke with the builder and the community, I'm that then new community complex is building that we purchase a house, a house with the closing and everything is going to be about seven hundred and thirty one thousand, and we me and my wife I have. I have, in my opinion, would say, have a pretty good financial standpoint, but with this a lot of this interest rates and a lotta think if they keep going up a kind of like down me dale what we decided on agreed upon what you're going to be putting about two hundred and seventy five down payment on the house, She had a very good job. She then nurse manager. She brings a six figure than and I'm apply a beast, we have biometric visor or being somewhere around six figure as well the two hundred two turner, fifty thousand dollar income or a reform without thousand income. What kind of six figure dogma?

He has still she's a nurse manager. She brings about one hundred and fifteen auken. What are you mad and I I make about one hundred and I'm on right now. I looked it up, I'm on track to Lou. about a hundred and thirteen thousand ok for two to thirty and you have to utter thousand saved or more. How much do you have saved to correct what we don't have hundreds? beat up we're, not gonna put two hundred and thirty five until some time, the next you're, probably june or July. Nature Now I have in my investment account about one hundred and twenty, thousand dollars and obviously we're gonna have a track. We have a plan, waste where from now but the time baby booked on aid, well until next year, we're gonna be taking ninety percent of the income. it set aside for the house- and you have no doubt will I hope I don't have that. I shall never

painted a college or anything up pretty much work. My whole life and every day so odd. This was like for me. I I I been watching your show ambient lake listening. Tell you give. It might have been following that, so, basically everything you can scrape together before the closing his cup laundered granddaughter, but that in your downtime actual like sugar, we haven't, does not or mortgage with the two hundred Thirty thousand dollar income sounds good. How can we don't get chair? Basically lake would scares me here is like where now my me and my wife like talk about it too, like you know what cause I keep track of all this interest rate. What we're at doing, while another planning in everything wish He and I are in lake, where an age of early thirties weblike she was to have like family planning set aside something for kids, like called thing sure if legal light get all this covered with him,

hungary, are you worried that you want to have it like once you get into this house payment, you won't have enough margin to do the things that you want to do like. Have a family in units live light, that's what you're saying yeah yeah, so she all about travelling. I'm not fully all like all travelling in everything. Now europe, I loved you. what what what you just laid out for us, your well within the bounds we always save for the payment not to be more than twenty five percent or take on pay. You do doing this on a fifteen year fixed. That's the only other part of this discussion oh no! I ain't gonna be thirty year, not only four days. That's that's where you need to that's yet you need to build fifty near the lower interest rates to start with and I'll show, you need to get a game plan. Were you about how soon can be paid off someday and then yeah? You fail live on a written detail budget that the two of you agree to You can close on this house and you should plenty, a margin to have a decent life and continued We continue to invest on a fifteen year, fixed rate

your incomes gonna continue to go up exactly and if any interest rates draw up in the future refinancing, get rid of a higher rate, because you could still be in a higher and trade environment by next April, such possible. I'm hoping, though, down by then we will be in a presidential election year and they have a tendency. go down in those years show, but no guarantee of that, but it If you end up closing in the seven eight percent world and then they would drop, from the actual refinance it later, but in them in time to take out a fifteen. You can do this, you ve got margin. I may tell you why here, ok, Financial bows really good with math, and you ve converted that two worrying dont ring your hands plan enjoy the ride plan enjoy the ride, but no plan as ever come out exactly like you, ve got them projected

ten years into the future, whether spreadsheet, radio, you can't you go out o my lady plan, enjoy, have peace, it's gonna, be ok! You're gonna, be fine Eric is weathers in richmond virginia high. Eric welcomed the rams issue, they even gave our ya been like that are there we deserve. How can we help good in florida. Just got married in may my wife and I and we just started financial peace university a couple of weeks ago, cool it, and so we started, and we did step one we're done with that good. But in step, two were a little scared good this element thousand dollar emergency phone there- it's not here, take it, They should scale backward. It's scary, it wasn't me version of ie scary here here. What do we do have like a five dollar bill or transmission

What barrel what's gonna happen? Let me let me break this. I just talked about this last night when you get. this stage that Europe, when you have a thousand dollars- and this is for everybody- listening not just ah Eric it changes the way. You think. Ok, when you before you, the thousand dollars right and you had a credit card. We had this fake emergency. This fake safety, they're right, if something happens, the dog gets sick right in the vet, says it'll be five thousand dollars. You just fork over the five thousand because you're not thinking straw, you're thing and I put on my credit card or I'll do this, but when you have a thing, in dollars, and things like that. Come up your brain. Starts working a lot more efficiently. You start becoming a lot more creative, you start realising, what's a need, what some want, Can I be resourceful? Is there another way to go about this and that's the beauty a thousand dollars like when the dry or goes out before when you have credit cards like what about slow down the loaves and give me a new drier, and let me get the newest ices model right. But when you have a thousand, you go home

wash my mother in law lives up the street? I'm gonna go over there and dry the clothes for a little, while until I can save up a couple thousand Well then, I'm going to go over here and I'm going to buy this one on craigslist or I'm going to buy just one, that's on sale at home, oh right, your brain starts work better in you creative and that's how this works? How much debt you guys. between student loans and credit cards word about eighty eight thousand and what your household income after taxes were a little over a hundred like one or two and how much do you own, a car Eight darwin and my wife to that. Forty, included in the eighty eight. It is. So your debt for into years, that's that and I learned again, the romanian arising from being shared europe. He hears risk,

number of emergencies that happen over one thousand dollars in a two year. Period of time is very, very small. If it comes up deal with it, then, but it's not going to come up. Okay and and ah and you'll, be locked in amazed, my husband and I had a thousand dollar. Did you ever have a thing when you're out your seven year? Thus I'm saying you got seven years: a thousand dollars will ya mean we use it? If there is an ardent, a million dollar battle over it now would you may how'd you if you had a two thousand? What did you do you just to make it. You didn't figure out a way to make it work and then stack of cash. He talked to the vet and go fluffy. You know, ref do something else with the flow. Please yeah, by the way, set a limit ahead of time with the pets. Okay and then there is it decides for you, I love my dog almost as much as I love my kids with their dog they're, not a kid. So we're going to have to keep this somewhat in perspective. So I'm trying to get all your right now are you for people on my you do

no limit show that a well and you have to decide. Can you afford a pet? You might not be able to afford to pay This is our ambition, I watch. All ramsay personality is my co host today in Bobby ramsay solutions on the debt free. Stage trappers and jill are weathers guys now are you are. You welcome. Welcome worthier live knoxville knox tennessee and how much data be paid off too soon over one hundred twenty six thousand out very good? How long this type twenty two months good for you and your range of income. During that time we went from one to a lover to ten erica the other for living, nobody safeguards and screw demands for the away subcontractor at the great national maria roca, and I take care-

and he takes care of all of us guarding the radioactive secrets and you take care of him. It's a fair trade, fair trade, very good, very good. So what kind of debt was the one hundred and twenty six thousand? We had every from their fifth, we'll campers to motorcycles Cars an hour s, meal noted in or anything like that, but lots of railroad orange, yellow toys normal. So what happened? What happened two months ago that what was the wake up? You did how do I do that? Well, I mean we. We never felt a pinch of being brought. We never understood the umbrella, weak, never had a and aha moment because- in my mind we weren't broke? We have plenty of money, we made our payments and it all came in and all went out. Yeah yeah, I mean everything's good, so I was so we started listened to your show on the way home from work just trying to find some kind of entertainment, something besides music to listen. Do so

I come on and you were going through one of the dave rants and you were just I mean hammering somebody can scouts pretty cool, I'm going to listen to him, he's fine, you know and So we were less for more entertainment value. Then I was educational value at the time still got mad at you at all, then personal yeah you did. What did I step on? You called me, an idiot namor yeah and a brother in law yeah? Well, I didn't yeah. Well, as I told a friend of mine, I said that the rooms he called me an idiot today and he said well, did you talk to him? I said no. He was just on the air he's talking about you, they're, not to you. I said yeah yeah there you go about something you did yeah. What did you do that I was picking on. I mean I'm just what you said. I'm the broke brother in law broke neighbor, I'm I'm you know, I was a moron of money. I thought I told her. I know we make too much money and and we're too smart for for this year

in like a set on every pointed at all. Do then did you did you? Shall sum of toys? we were sold our camper? We were upside in the camp or shall we seldom do come up a thirty thousand now good law, saddam them thanks how much of them twenty six was the camper thirty nine should you had to come up with thirty you're upset? down thirty la ok, but I mean but out more than thirty on it. Here we are What ninety that's? What I mean you're, one, twenty six! Ninety was the camper. Yes, how well ok, so then you had to come, with a thirty and then what that yeah, that's a big move run their yeah. Ok show that one that was the war. that was emotional when that left out. I mean we. We took pictures of us with dr and offers waving a damper on the way back to that girl go, go, go, go, go! Go before I change my mind. So what did it? Look like? Okay, you're, you're, you're angry, because Dave's called you every name in the book and you're like you're, like we

on board. Your what did you say where you like? Yes, I've been waiting for this moment or were you like? I'm not ready like tell me, tell me more about that. Getting on the same day, what? What did you just say to make I our ok with whether new or yeah? I was ok with a new we needed there. We need to do something and- and it might happen what that look like what was getting on a budget where you trimming back well, he he sat down and he did he's better with the numbers and that the plan- on the nerd, okay, okay, so he sat down in an he said. Okay, I think this is what we need today. This is how we need to do it and we just started. I started clipping coupons. I started and which I'm not a big shopper like I do. I've never been one to go out and spend a lot of money on. You know things like that, and so that wasn't an issue, but I did start thrifting and yard selling a little.

More than I used it. Do that the outline some staff, so that worked out over gas very girdle, also for your mother, that amazing, how long married fifteen years go by sixteen it? Have you ever been dead for even more you're married now? Now why I wrote a check on my forty ninth birthday, which was two weeks ago. I wrote that check my forty ninth birthday and we're debt free, wow. I'm sorry, I'm almost! I wanted to do it by the time I was fifty there either in and we did we did at forty nine. Yet he did excellent excellent man way to go. You gotta think hard when somebody says how did you do that? What do you tell him? The key was, I would just we had the plan and stuck to it, we downloaded the every dollar app. We stuck to our budget, you no one. There were. Europe was listen to the shows and stuff, and you you would give us some hints on what to do with the budget and move in some things around and we spend little more

this month on this. We pulled it from somewhere else, logistic into that budget and stick with it and believe in yourself, yeah and leave and what you can do and in and with me. I'm always When I get mad, I get determined and now you I wasn't mad at day for column in idiot, but I was May I got made today at an inn? That's that's what happened now we just got mad wished, and this is the army. I'm ready to kick it I'm done and and let down a determination has really had to really really. You know you have to work together. You can't, if you know you get, you start to get frustrated like you know. I really want to do this or I want to do that. While we can't, we can't go on that vacation and it's like okay, you know what we can't. We just can't do it right now on on her forty seventh birthday, then what to watch on my forty? Seventh, I love to everything's a dollar. When I go yards out. Oh it was just the dollar. It was just a dollar. I I got this for a dollar, so nothing's in the budget. I can't do this can't do that.

so my mother in law gave me a birthday card and it had forty seven one dollar bills in it. Nothing then I budget forty, forty one, forty five, forty seven she said, spend it at first story. Art sailor, whatever is out of that, was already worry woebegone along at a rebirth. Let me you're sure and yawned. Oh yeah yeah, I'm on his errand yeah there right for every through our hour. I've been doing that for each groomed for Almost thirty years, you're on the air you're, the first tramp us good that I've had my first show? That means your mom and dad must have been like fans of the virginia, as well as the old T. V show gotta, be old, know what that answer. I was a month early and they didn't have a name, picked out yet and when

I went to had me dad- was still waiting in the waiting room and watching a tv show and the virginian came on there and I was his favorite character. So when the nurse came out and said, we need a name, his name him Krampus will change. It later, was a great character, great character and never changed it now. Yeah, that's good! I like that. That's fun! Congratulations! Yankee! We've got a copy of the baby steps millionaires book for you, that's the next step in your process, total money makeover book you can use it or give it away and the financial peace university membership same thing, use it or give it away. That's the living gift box. You either live it or you give it or have some of each we'd love to have you do all that. Thank you guys for common. How you're he rose. Thank you. So much better. I think you're amazing, very cool yeah, that's a tough thing! You I'll do is really hard as worley worth it. I'm proud of! You travel, some jail marks by tennessee, twenty six thousand paid off in twenty two months

getting one tuned to ten county down. What's era debt free scream, three, two one! That's how you die! absolutely amazing. You never know Well, those rants are going to be taken. Look. He was yelling at me. Calling me names, that's the way I felt back in the day. Did you ruin a little bit little bit? You called me dumb dinner, the magic of the radio waves through the through the millions of people that were listening, you were the one I select yes, yes, nokia today you have that power. Your voice fall people around you, the appliance you yes It's also why I have such a fan club on twitter. That's right! I can breathe trolls

Nobody can bring. Spiritual out, though but now I know that the only reason we would do something like that because we love you were there to help and if you think of while you misunderstood the whole idea, this is the ram she. hey, folks, dave, Ramsay and rachel cruise, and we want to tell you our number one tip for managing your money. Well, I'm talking about, budgeting gas, and everyone knows that I am a huge fan of budgeting. Well at didn't always been the case, though, as the original. No but listen. I seriously love it now because, as soon as I said, making a budget. I learn that it puts you in control of your spending and my favorite way to budget is on our app every dollar Every dollar makes budgeting simple. It's the east!

the way to make a plan for your spending. So you can prioritized the things that matter to you and you can get started today, or for re, just download the app and check the show notes for the link, and you guys don't wait to start budgeting download every dollar and create your free account today. Do it it's the best. jade watch. All remsen personality? Is my co host open funds aaa, two five and five to two five christie is in phoenix hi Christie. How are you are you better than I deserve wow, my husband and I own a franchise at the restaurant, don't really want to say the name, but we a business on a pretty happy business loan, which, though, we owe to. Thirty on the data

and we have about that exactly two thirty equity in our home. Would you sell your home to path the business on, because the interest rate just keep goin up enough enough, but our came in there. Now we ve gone. Does restaurant for three half year than we started, paying wanting five hundred a month and now we're at forty five hundred a month because of the interest rate. Would you sell your house to pay off your business loans? Are you making money? Yes we're making money, but how much What report? What's your taxable income in twenty twenty three gonna be like take home, taxable income, what are you gonna pay taxes on what your tax return going to tell me. You made the real profit of the real profit, Did you like? Seven hundred thousand? Won't you pay it off.

you're going pay taxes on seven hundred thousand dollars, profit even not that might be grange rail numbers? big arose revenue here, Am I like your right? What are you take home? Do you know that the pay ourselves salary from the business, which is that that's about forty five thousand each. Then he retired from the army. So each now together we make a forty five thousand. Our ok at the end of the year was their six hundred thousand dollars laying around in an account now then did not make a chevalier about more profit. Ok No I'm really problem. Profit is what it is not brought. Profit grows, revenue is the total money coming in.

Then minus expenses equals profit. Does that make sense? Yeah ok and I hope to god- you made more than forty five thousand dollars on seventeen thousand dollars where the rain I do you get have money lying around, in any say swear business weight rio marginal, So right now forget If you're, when are we live, where it's kind it's hard to make it wintertime we have fifty thousand through the winter, the coming winter and twenty five thousand. We just put away for savings and then we have another batman going to now, then we have another twenty five thousand in cash. Okay. So it's a little hard for me to tell you what to do. I can't you're out whether you're, making any money or not even three years and it shows like you, ve got line by line here and then he had to go to the benefit of all that about numbers. So here's the mckenna gimme that concept, and then you and your husband conducted the concept,

I would so my home only if I figure out a way to clear this debt. In about three years, which means you would need to make more than more than you do after you, payer bills and eat you'd need to make an x. Seventy five two hundred thousand hours a year to throw at this loan. Okay- and I dont- know if this right, front is producing that are not it doesn't sound like it is, so it does sound, you have made a mistake and you ve overpaid, for this franchise, and this measure yourself into an it. Probably Austria, your home, you're, probably gonna, have to show your home or you're gonna end up bankrupt. This is the only one. Is the business the only money coming energy. You guys have other side jobs should he has had military retirement. Ok, here the retirement yeah, zambia, yeah! Ok, you got me figure out, but it sounds like you guys are making may be a hundred thousand dollars a year off this total,

including the money you're sitting back and the money you're taking home and all that and that is that major, probably gonna have this data around four four five six years. If you keep your, so the fact that you over paid for them- restaurant you got excited and the fact that you went into debt to buy the restaurant. You should not have done by the way the I would not have done this deal ah, but you're there. Now, though, Things are forcing you to show your house, oh it's as if, at the beginning of this whole project, you said I want to own this reference. More than I want to own my house You didn't mean to say that, but that's what it come. It's what's gonna come down to an so, unless you guys can figure out there, you can pull a hundred times. seventy five two hundred thousand are out of the business. And throw it out the debt and still your bills at home and aid for the next two

two three years. If you can do that for three years, you're out of that ok and but I think this thing's generating that now, maybe it will start, but the fact that you, down winters in the restaurant businesses. Weird the I've. I've got the feelings, yeah item, I had more questions, but you know, I think nobody factor too, forty five thousand a year for businesses. It is an idea worth it is not their grim hagen more than that, but not much And open phones, a triple eight, eight to five five, two to five, you jump and we'll talk about your life your money, will is weathers, will is in atlanta. Georgia high will welcome the ramsay shell. That bay are adamant, sure are going up I have thirty thousand dollars in gold and silver, Sarah and I have torn it and I twenty five thousand- I was in, and I was one ring if you paid out all yes thanks

and I get married yeah. Yes, yeah get married in nine days and my pastor and I would go through marriage counseling and he recommended recommended me to talk to you. Okay- and I just want to see us- reverse it, okay, let's say you were dead, free and you're getting married and nine days. Would you go borrowed thirty thousand dollars to buy golden silver. Nine days before you get married I don't! No, you would not shown we're revert, we're gonna, reverse engineer and it'll. Give you the instant answer that jade gave you solve of gold. so for now today and be dead? Free, well, your honeymoon it'll change the way you walk, it'll change, the way you Tom, the rich rules are, we were in. The borrower is slave to the lender. That's what you're pasture was talking about and when you are no longer a slave, you can devote yourself your new bride and two year old boy

and shiny future, and it's not bright and shiny because its gold or silver rotten shiny, because smart enough to never do crap again. He I never the next time. You start investing in baby step for make sure you're going into mutual funds and not old, not so not single stocks? Well, we're gonna, give you from and your piece university, which is our non wait clash on how to handle money as our wedding if you and your wife go through that after you get, from the honeymoon, ok, people are some nerdy. They do that on their honeymoon that we are with you. I don't do that I gotta go. I don't I don't wanna go on without so. Where do you get home, but we're gonna, give it to you for free and get your son and yet you going on that show open phones, a triple eight, eight to five five to two five. Those of you that want to knowledge, but more about money, we're doing a free live stream of our first two hours of the smart conference in Chicago saturday morning. We would love to her

if you do that with us jade, what speaking and george camel will be. Making in the first two hours and were for live streaming. Those two talks completely free just go to ramsay solutions, dot, com, slash alive, and I will get you signed up for that and get you going. You do not want to miss that john de loners book building anxious life is rapid a building its ass. I ought to be a number one best seller incomes out october. The third couple of weeks from now, and if you will, all the pre say, oh goodies, that we gave a twenty dollars for the book. Seventy five, for the goodies. If you pre by it, you can get all of that now at ramsay solutions, dot, com, lots of things happening right now. around here, a lot of things at me, you can come to the smart coverage of the chicago area, will be their friday. they're in the morning and will be their friday evening and shattered I all day, and we I too have you. As a few tickets left, you

you still get in ramsay solutions, dotcom, slash events in other words all the stuff you want to do, you'll find over at ramsey solutions, dot com. We appreciate you guys hanging out with us. This is the ramsey show the the headquarters of ramsey ramsey show where we help people while the love and create actual the thanks for dropping in america is the personality of the phone number of the five five to two five: that's triple eight, eight to five five to two five, Lisa is whether in colorado, springs high, LISA welcome to the rams asia

I gave a high gay, I'm a long time listener and better her baby get but a person collars there I'm excited to be here, will thank you for and where the shocking. We hope, of course, that my question I what point d decide either to declare bankruptcy or to pay off old flash bad light. Try to pay off debt Old bad debt can usually be settled for pennies on the dollar Give you an example: we bought a couple years ago as a christmas present for our team. Are we bought ten million dollars worth of old, bad medical dat, repo debt and credit card debt and

were there were eight thousand accounts and I we bought that for two and fifty thousand bucks and we called all the people for gave their debt. That was our christmas origin, we are so fun. It was so fun we got. We have one thousand team members. Each of them got to call eight people and tell them Jesus Forgave, their debt and so oh, it was pretty cool, it's kind of one, but the point is not to brag onrush. But the point is ten million dollars for tuna. Fifty thousand. That's too. and a half cents on the dollar while as two and a half per cent joy paid for it,. So if you had one of those datsun, you called one of those people. They would have settled that for ten or twenty on the dollar. Easy felt that one of those who attend I was not or debt, and We bought it for twenty five dollars. You could

bought it, probably for one hundred or one hundred and fifty dollars. You know something like that right are we bought it at a ten thousand, our debt? We bought it for two hundred fifty bucks you could have paid it off, probably for twelve hundred. So point is he's on the dollar, so much much back up and talk about the real world with you how much old, bad debt have and what kind of debt is it like that is actually not I'm I'm calling for a because I am we make my mom in my god, my god pathway, I'm back at the beginning of the year. I'm sure sure yeah You ve got a good and I know where he is. so we're just celebrating headlights. Trying to you. I will need through how much do they live? He hired an between him and my mother about a hundred and twenty thousand dollars.

Five to ten plus years old all can emerge at my credit card. You would be credit card He had a small business and his mother news that could finance community finances business, and though shadows mom, have any money, my mom had about twenty thousand dollars in bathing line of a house. Mom a house is worth about three hundred thousand and better a rebirth mortgage honour for about a hundred and forget, I watched you hidden taxes, she does also have sand and then I would call an ad delinquents.

garrett, so that was also used to try and play the business that I actually all in her name and it's if I would say ninety plus, bold and there's about fifteen thousand bad. does anyone your family have any money you or brothers sisters, I were working for my husband and I were working through the baby steps right now, so we have a. We have nothing that can't or not nothing, that's not going to get right now and that my I have a a an older brother who is newly married and savings are. The answer is no and my my younger brother. I actually have no idea how old your mom she Seventy, three o lonely talking merchant philosophically bankruptcy, I've been through it. When I was in my twenties, it's horrible rain

philosophical philosophically its ride on the same list as divorce. Right, it's a horrible thing. It's never a good thing. It's never! wasn't thing, it's not something you want to do and if you think you I'd be facing. You try everything else. to try to avoid it before you do you want to pull out all the stops right now Never let your absolute last last last last last resort cause is not while building tool it there's a lot of and intended consequences that come at you because of it. You know you don't want to do all you can avoid it. Ok, just like you, don't you I could organise young couple, the chad, a fight you dont, you're, not divorce, you're, certify, ok, No, it's the same thing, and so you know for number put. That bucket number two just like divorce dave ramsay never tells you to do it. There are ever in thirty years, been only

and said you need to file bankruptcy or unita foul divorce, the one section on divorces if somebody is getting I have to couple ladys that are getting beat: gettin domestic violence, sexual, since that they need a foul divorce, I need to get other. Ok one other than that I don't tell people to do stuff like that they make their own decisions. I ita August understand if they end up doing I am not mad at you. If you end up doing it, I went through it, but I wouldn't not divorce by bankruptcy, but I would tell you not to if there's any way you can show all of that all about, Does your mom have an income, he everything the eight like a hundred dollars a month or social security, a man she derived law. if I remember correctly in texas, your home is protected. Binding bankruptcy, gas in the age of one hundred percent, homestead. So if she files bankruptcy, they won't touch her home

and they were our to keep x number dollars of cash, probably fibre, thousand, but not much. and everything else were collected by the bankruptcy court unused towards her debts? What I would I to do is to help her to begin to solve. This for somewhere around a dime on the dollar. If we can make this all go away for ten or twelve thousand dollars, and a lot of phone calls by you on her behalf, beaten the crap out these people and you're going to beat the crap out of him. You're gonna, have to say I widow, lady, in texas files bankruptcy. You get nothing. This is Maybe the headline, if you screw with me, I'm offering you the us, don't mess with. May you better take the deal cousin, I don't take the deal, I'm going to hang up the phone and go to the next one and when the money runs out you're going to Poland, nuthin zero, so go through and try to settle these ten. Fifteen cents on the dollar and you can help or avoided, but boys said you got appeal battle

You do not have a lot of resources to settle this when it could be done. But he has got off to be tough. If you run out of money run out of patience, you run out of steam, she may end up filing and I won't be mad at him, but it will be, but I but I would have try everything else. First. This is our ambition. Ramsay podcast listeners get inspired and motivated to build a great live with our weekly newsletter, delivered straight to your inbox, this email has helpful articles, tips and tools to help you win with money, improve your relationships and move forward in your career. Just go to ramsay solutions. Dotcom, slash news letter today to sign up it's free, and again ramsey solutions, dot, com, slash newsletter,

great watch all rooms. Your personality is how to vote. Today. Open phones have triple eight eight to five five, two to five jade: let's talk bankruptcy for a minute, a chapter: thirteen is the most popular type of bankruptcy, It's a repayment plan. Were you pay back a portion of your dad some doubts a hundred percent if there ah secured like a car alone is paid back. A hundred percent it's, a student loan is paid back one hundred percent, if it's a credit card debt, a medical bill that can be pay back at pennies on the dollar, but you pay payments according to your income in a chapter, thirteen over sixty months five years and in the debts that were partially paid in the plan, the rest are forgiven and in bankruptcy, but you have filed bankruptcy, sometimes chapter thirteen people, don't think that's a bankruptcy laws,

payment plan now: you've filed federal bankruptcy as a chapter: thirteen bankruptcy, a chapter, twelve bankruptcies of farm situation very unusual bankruptcy of chapter eleven is a very large bankruptcy. Usually you she corporations do that big companies do that. Like they'll like at bath and beyond or follow chapter. Eleven and they'll dump seventy five percent of their stores. and they cut all I'll call the leashes loose and they keep the profitable store and they restart the company to us arise if a reorganization for a large amount of money, typically a large company, a business and ongoing concern the when people think a bankrupt. generally. What we think of is chapter seven bankruptcy, which is total bankruptcy, and that's where

quote unquote, all your debts are wiped out only there. Not, but that's the Thank show student loans or not bankrupt. Double irish taxes are not, banks irritable show if you follow chapter, seven, the nearby rash and you have stood loans. You come out the chapter. Seven, you still got those. If you want to keep something that has a secured loan against it. Like you keep a car payment, you wanna keep the car with a payment on it. You have to re, affirm that debt and just keep paying Will it bring it current if you're behind and then he resigned that documents and you keep going and you keep paying it or you give up the car, but you can't get rid of the car debt and keep the car that's not an option. They have a lean on the car in a chapter, seven, so you're going to give up the car or europe. Resign. So I have had people jade come in. I were a foul bankruptcy. Only we're gonna reaffirm the car and the rest.

our debt student loans and irish well, you didn't bankruptcy honey. Anything then yeah no relief from the bankruptcy he everything's surviving, yeah, so stupid, stupid stupid. Don't do that chapter seven bankruptcy stays on your credit bureau report. For ten years the only thing that stays on ten years. Everything else days, for seven years chapter. Thirteen stays on seven years from the date of last activity, which is seven years from five years from now. You start that's a good point. Your payment plans, repayment plans, or even of twelve years from today, if you filed thirteen today before bankruptcies off of your credit bureau, so. These are the things they don't talk about whereby acts like bankruptcies, easier bankruptcy, quick or whatever, and what we talking to her about is when you file bankrupt.

See they give you a personal exemption per state. The state that you live in, even though bankruptcy is federal court, that the exemptions are by state and they give you a homestead exemption. The homestead exemption is the amount of your home equity that are. To keep, and so you can't have in most states or four hundred thousand are paid for house and file bankruptcy and keep it the bankruptcy trusty will too, that house oh sell it, they will you view the exemption amount which in tennessee seven thousand five hundred dollars wow, And so you will lose the house gift, seven thousand five hundred dollars and they will use the rest of your equity to pay your debts. I, that is painful. That's big! That's painful! That's big! Now, if you live in florida, as her arkansas, they have a one hundred percent homestead exemption, so they don't take your house. You can own a two million dollar paid in florida and file bankrupt

and keep the house question: do you think they have a higher rate of bankruptcy filings because of that exemption? No doubts that the data doesn't show that doesnt. That's interesting, because bankruptcies are more by are based on other things. Most people don't use bankruptcy as a method to screw people and you know generally of somebody's- got a two million dollar house. Most people will sell the house and pay the bills. Even if there are in a state that require them to do that in bankruptcy. Ok, because most people are trying to do rather trying to figure their way through the they don't even the ant, and but there's a few people that you know yeah do stuff like this, but you don't show that some pretty vast difference between texas in sight. There are thirty. Seven thousand five hundred dollars you get to keep texas should keep all of it, no matter how big Is it your personal residence? That's a big difference so like Kentucky five thousand Louisiana. Thirty. Five thousand other pulled up the line One o google, Google,

You're so main is forty. Seven five maryland. to nine seventy five where they come up with a massachusetts. Five on k, you can keep ok, michigan thirty thousand minnesota for fifty mississippi. Seventy five thousand missouri fifteen thousand Nebraska sixty thousand shoah show Actually it's all over the map, but in all, but those three states. If you have a super expensive home that is paid for you, don't keep the home in a chapter, seven and you're, going to you're going to be set. So the point, is if, if you're not gonna, get rid of student loans, you're not gonna, get really ira and enter the reason for the car- and you know If you owe eight thousand dollars on credit cards, that's the only thing: that's going to go away and you've lost your net and you've lost it and then you're going to lose your home or you're going to be handcuffed in some way or another. It's usually, I she's not a big help, yeah, that's just in it bomb and not really much gain from it.

Dropping an atom bomb on a tomato patch. I mean it's just you know, there's not it! So it shares overkill answer Oh yeah that that's, why are a lot of times, but one happens is that people get so scared their terrorized. By calling the collect calling in calling and collectors asti, they sure are giving you a hard time and they're demolished or they get scared and they go well. I'm just. I give up, I surrender, I'm a foul banker, but it doesn't fix it. yeah, infringing only think about the chapter. Thirteen. You think what you can come up with a payment plane. You can negotiate these things down their sell things like one and you if you do it our way, your polygon adieu and in less than five years so exactly so you know our lash collar and we only got up against commercial break. You mentioned this in the commercial break. They had a reverse mortgage mom and dad the lady was calling for a moment that they are mortgage, which is going to come back, invite her later

yeah, because she can only pull out the fir tree so much and equity when they actually goes goes up to sixty five percent alone devalue and after their they're gonna, stop she still has to pay the taxes insurance and maintain. property and if they don't reverse mortgage country, will foreclosure s right and she's only gonna drive, uber lift for so long ryan. She, seventy grubbing ober, show so watches tallish. Well, it tells us that much. was probably selling that house in the future, and the thing I didn't do in that call that are probably should have an you brought this up. It was you you tell me the truth was that they. They probably sell the house now yeah before they run out. It gets rid of the reverse mortgage and take the equity, the saratoga to clean up or debts as she settles and she can get. I ll apartment and live on, social security and a little but Ober are less money and not have all the stuff hanging over her head. I agree, but daddy, died in january and we should in september and

most gonna, washed off stuff crashing down around her ears. And she seventy and driving over Heart goes out to them the thing I'm gonna, you know now: wrestler house, that's going to be really hard yeah! It is going to be hard and she's, probably not to want to do it or understand why yeah, but but you've been running a business for fifteen is it a loss and you got one hundred and twenty thousand dollars in credit card debt and that's where it came from so that's you know that this is the chickens coming home to roost as say, but its very difficult, but really what when mamma and when that lady a seventy five years, all what is the best course of action for her to have taken. So run a yeah absolutely up all the debt shuttle at all? Should a hundred percent that free an apartment in all the pressure that's right in all the shame and condemnation from the bills from the past and all the collectors calling in a year that she's grieving her husband's death. It's all gone, it's all cleaned up. You know

I wish I thought of that. While I have the lady on there still is in substance, This is the rams issue, open phones, this hour, a triple eight eight to five five, two to five jade wash remedy personality is miko ocean in the law. Of ramsay solutions on that debt free. stage Michael, is whether Saint Michael, how are amount, do a great deal of our you better than I deserve? Where do you live torrenting, connecticut, connecticut, welcome to nice bill and how much debt of you paid off sure about forty two in dollars in thirteen months, good for you right. german, gunnar and odin star Add a round sixty and finish just over a hundred k, your girl actual what kind of debt the jury I had a car no about twenty three thousand on a car, a thousand and various medical debts

seven have k and credit cards and about fifteen hundred on miscellaneous small debts, your nor how yeah pretty normal, I think, are more what happened? What over the deal thirteen months ago? Well, I just I thought I was doing a good job. People with the joneses, I had a decent condo nice car and I just found tat. I was stressed and anxious All the time- and I am a single parent and that stuff leads down to our kids just decided that I really wanted a better life for both of us. That's around when I found the ramsey show good for you. So this. So the debt wasn't worth it tee. You definitely not no wow, then how old your baby she's thirteen very good good for you, how did you find the Ramsay bunch just looking up on tube. I found you and I think doing you're on a rat, a kind of anti snowflake

Gary ran. I was like that is my guy. Yes, that's what you know. That's my really became interested in the show em down the hall, from those ranch has been known to melt entire inches of life. It was just what I needed to hear, so you re recovering sums the only covered snow out now and I wasn't a snuff near you just stating where he agreed with me, and that means something opened by taxes it. I got my attack like it's very good, so I just basically I just want work on my side. Jobs have side jobs. I worked so many jobs. What was the most lucrative shut? thing. You did the thing that made the most money. I'm a chef by trade and probably it's hard to say, but

well. I did a lot of ten ninety nine catering jobs of a very lucrative in law and profit, sharing, that's from good money, again very good money in that, and am I do a lot? liveries food and grossly deliveries? and the reason why those have been so great is because my daughter likes to come with me, so it's got the way to work extra hours I would urge that the same size guy she's she's been my navigator, my dj, my traveling committee and for thousands of deliveries well- and you know, if she's doing the dj, the music's much better than if you'd. He would definitely agree with you on that day for sure, I'm sure I'm sure per cent very good man very cool. So what kind of money can you make during the Assad shoving idea that it it's it's It's over fifty dollars an hour ago astronaut and that's a lot more than I making any of my other jobs. But you no good for it's nice to mix it. A little bit yeah, but I mean what that again

Usually we find the best side. Gigs are an extension of your perfect absolutely don't like teachers that do tutoring can make forty or fifty in our as a side gig. if we see that all the time but you're taking what you're doing in your professional work, and m moving around that way. Good stuff man show who is your biggest cheerleader other than your thirteen years? I had a lot of ecological workers at cheered beyond. I think most people, most friends and family, probably think I'm a little crazy. You know you're the guy in a good way the around to say you know disregarding the credit score and all that is that it's a tough cell to a lot of people happy. You know a lot of my family, but they, but they have always supported me in may they may not agree with it, but now that you paid off forty in thirteen monster, they believe at all. I dunno, I hope. So it's pretty good. I hope they do. That speaks volumes right there that you actually did it. It's not what you tell people the key to. That is, I would say,

Definitely budgeting was a number one thing for me, there was something I had never done before I couldn't and told you how much I made a year how much which dead I had honest. They had no idea because I had never laid out like that, and so using. Every dollar was a big big help for me. I still use it now. That's cool, very, very good, good for you, man. go, go hero, how's, it feel to be free. I can't tell great feels I've never fallen asleep so fast at night. Mad even hits the pillow, because it just don't you know I used to stress- out about. You know the next page act in the next build its due in, and I just don't worry about that anymore. You don't have to it when it's just a great feeling and my descent people that they will. Even if your single pair. You can definitely do it just start lodging in and get to work. Let him go danger residing good stuff, really really cool. Aren't we

not a copy of the baby steps millionaires book for you, that's the next chapter in your story for sure you're on your way, hero total money makeover book, and you can give that to somebody if they actually inquire about how you pulled this off and the same thing for financial peace university. So that's the live and give box and it'll get you Get you something you can live in some you can give so good stuff. I know you're not going to join you on stage, but let's honor her anyway. What as the dj? What's her name, that's Clara my daughter, clara way to go clara, appreciate your support and your dad. I know your dad's a hero. You ought to let you ought to tell him he's awesome, because he is very cool, stuff, good, a bar, I might go from connecticut forty thousand paid off sad vessels had sat vessels. They did it in thirteen months making sixty to one hundred counted down, etc. for each gloom. Three two one

I am debt free, yeah. The way to go kiddo so jade in the program today, we've had two debt free screams. Both of them said that every dollar, every dollar budgeting apple's key. It is key because, like I mean he did a great job cleaning it most people. I think I read a staff that said seventy percent or seventy seven percent of americans abuse hey. What did you spend last month, I tell you around you because they don't have any. I mean that they really do not track it at all. You don't track it and when you start trying it there's a rule and business. The says what gets measured gets done. That's so good in an sampling, true with money if you dont measure it? If you tell your money, what to do you'll, always wonder where it went. The every dollar getting app is the world's best budging app we brag about it, but but it really is yeah legitimately a maid

in you can try it completely for free and this coming tuesday. George camels gonna be doing one of our budgeting weapon hours. Jades already done a few rachel done. A few yaller can be drawn from more later. That's right! This coming tuesday george camel is back after he's his wife. Just here, brand new baby and they better home for a while, but he's back. He's is be me why the chicago this weekend, but then this coming to day he'll be doing the the every dollar webinar be online. We limit that because you get to interact with him with questions during the process. People jump in israeli and if you want to be part of the webinar there on this coming tuesday george Amals gonna be doing it on putting together regards completely free. It's completely free. So you just go to every dollar dotcom, slash budgeting, you can learn how to do some of the stuff that Michael day and he paid off forty thousand dollars in thirteen months, yeah, it's so necessary, and so many people think. Oh, I have a budget. I do it on paper every month, but

the same, because when you gone every dollar one, you track your tracking. Today, what you're saying, to make sure you're actually heating your numbers, it's not yes, you setting at him forgetting it right run in that to me, is the key you can shut. Budget and forget it in this, not really a budget. Now it was just a wished you exactly exactly was so you know it in. Thus we have you had your budget for the and then you have your actual for the months and years. Ok, we brought in more revenue are less revenue than we thought over or under budget. We spent more or less than we thought over and our profits were over or under an you. Compare what you plan to do with what you actually ds and every dollar does that minute by minute yeah, when you're doing it in real time you can adjust as opposed to waiting till the end of the month ago, and oh crap cause you can't keep spending more than you make you're, not in congress. That's right! every dollar dotcom slashed by

george camel, notably those coming tuesday, the nineteenth of September free webinar, sign up for this is a amnesia Our scripture that neighbours, twelve eleven, no discipline seemed pleasant at the time but painful later on, however, it produces a harvest of righteousness and peace for those who have been trained by it. Him lincoln. Lincolnshire discipline is choosing between what you want now and what you want most good, Catherine, is in Minneapolis high catherine welcome to the refugee issue. our gave iron super excited to talk here. You to watch. I have them. I've been listening to you. Since I was twenty five years old, I lived right there in franklin, tennessee now I'm getting for, and I live in wisconsin right outside of minnesota, and I have a question

Husband- and I will I followed you like, said for years, and we have to worry about that. Cometary he's also, a farmer and I'm also a yoga instructor, we have been practicing optometry For about twenty nine years. We are completely out of debt that happened about four years ago. We shall very blast. We worked really higher wonder where thank you, I'm wondering if you might have some advice of where to go. Now we were all with dr bigger when we were trying to get out of gatt check it out with our boxes and all of that and now that we Then we ve got about four and a half years last that we want to do up cometary before we retire, but where We are failing burned out we're not feeling that drive and that bigger in that sense of accomplishment of checking things, often, oh just wondering: if you have any advice of.

I don't know where to go from here and, like I said, I feel very bless even making this question arms a pat on the dead rehashing over the house, We thank you for the girl. That's my bed right! Congratulations announced at eight up like you and we said very proud that now trying to figure out how to keep that drive. Clean and to be able to work for the next four and a half years. Well, in some ways you don't need the same drive as far as that intensity could strike on pain of death. I'm doing this We've earned the right to take your foot off the gas. Obviously your you have all of this margin now right so you're doing, three things that we always do with money were giving some of it, we're saving more of it and we're spending it, and I think that It's kind of what you guys need to this is the good part re. This is the fun part where you sit down. I know look at that margin and you're like okay, because here's the thing you've got it. You've got

give something causing you realize. This is what this is all for. Right, you, ve, gotta, keep thy perspective in the more you give you realize that you ve got it spent some of it, because if you don't it's like all, we do is work. Work work great ignored. Join us ve got to spend some of it and then, of course you ve gotta continue to see, because you are thinking about future. You are thinking about this like that. You want to have so that's really really, all there is to it. Now I get what you're saying, because you are This mindset for, however many years of I'm just I can away, I'm gonna go on going it's kind of too hard to turn that off what I have. What what I did was. I found that in not only in business but from a ministry perspective and from a financial perspective. I get a lot of energy from a detailed go. That's my husband and it out. only the matter what it is as long as detailed in it, and I can measure progress towards that goal. Guy could be a generosity. Go

because we want to go on this trip and we want safe towards that it could be a friend of mine just bought a big clash of car. that he started for the last twenty years we want to buy, and that was a big golly work towards it should now what order sudden in another go. I don't care what it get your go, yellow and and show you know, one of them fun ones we ve had shown and I've had and were in the same place on the baby steps. Seven at the ends of our careers right and so forth was I and under this guy who are not counting his hi than is normal rhythm of giving. In addition to that at a golly want to give away a million dollars in a year to ministers just to give to other help. Other people right and arms we shut. That is all we were able to do it one year, and that was What iran and We decided I want, then other cited a few years ago. We did this about three

years ago. I thank her for that. I guess was year before covered, maybe We should give a million dollars in in one day. that was fun, that's crazy crazy. You know my kid manioc tennessee man caning I couldn't even rap. My head around avenant mean much less given way a million. Much was going away, a million and one day. Let me know the next time you planning on doing that, and let me put my name in the hat. I mean I'm not sure I guess I'm just saying that put the point is that the stuff we teach works and it put you in Vision if you live no one else later. You can live and give like. No one else answer What you need, then, is something that matters to you. That is a over clearly defined, hide, phoenician gold. to where you will know exactly how close you are to it. and when you hit it it's not.

I guess not. Some sense is not some feeling it's very objective. The very measurable and you say ok by this date, we I do this and Your mind automatically starts unpacking for Henry cloud says he issues. What must be true? That's not true today in order to be there at that date. It's right. What is it that, in order to give that save that? Ah, you know how I want this want. I want to be in a position. I mean it. I don't mind, vague ones that are kind of funny out. I wish to work for a guy real motivational. He was a great guy said. I want to make enough money. I can read the menu left to right. This is looking at the poor. first, I want I want order, I'm gonna look at the stuff. I wouldn't want to order and then I'll notice the price threat. He said. That's a that's a state of mind. Now, that's a little bit weird a little bit funny, but but it is a mindset it is. It is I've gotten comfortable I've gotten content. This meal is not going to.

find me I can do whatever I want to do with this meal. Think what you said about sharon wanting to be able to just go to the store, and you know you can put what you want in the basket and it's not a it's not a thing. It's a buggy. I can't say it I can't I can't go there. She with the girl at the grocery store and fill up her buggy. I said that on their livestream to the night, rachel and jade made so much fun of me when I got off the air there, like a bar. You know all the air. We make fun of me all right on a regular basis. Madame DE it's hard, it's not cards up, buggy basque, a cart shopping, It is not well like this, not a baby, buggy too it is a bad on where we can say what she wanted to be a girl in a grocery store by grocers. Without thinking about it, because we were so broke that we had to We use every last dime on every paycheck on everything we couldn't breathe. That's how I feel late to share, and in that way so much that was my thing is I I

they know that we can. But now we can budget enough to where I don't have to be think I'm not calculating it. As I go right, I guess if you ve ever been, were you didn't know if you could feed your kids. you weren't, a hundred percent. Sure you do. We all bear is got fad. We weren't, but it was. It was touching, go yeah! You know if you ve ever been there were that's a different kind of terror. And, if you ve ever been there than in going to the grocery store and filling up your buggy up your heart with anything you want to put in it becomes a really solid gaol, that's funny in the funny, is, like I said, the other night she's such a tightwad. She still doesn't do it, but and now she could buy the grocery store, but you know, but that doesn't matter she just goes in there and gets whatever fill up your buggy open up your pocket book,

pay for it yeah. But you didn't you didn't get it. If you say bug, you also say pocket book or trauma. The pocket book is a wallet, not a wallet. It's a purse or pocket book and a persia. The same thing know your pocket book. Is your wallet right? No booth, guys! No wait! A second I've only ever had pocket book in, like a woman's purse contact purse to purse he opened. My mama carried her pocket book. That's that's! I remember that my whole life on what worries- grow up wallet you know I, like other operators. Cuba have family in virginia, That's how I know about it yeah, but we can't keep you on here long enough, we're going to teach you to speak, hillbilly, clever! You keep your pocketbook in your buggy, that's right and that's what you do when you're shopping is Bobbie Roberts. Alabama that true bobby you keep your pocketbook annual

Ok I'll! Do it stuff Gaza both great job. Today, as always, we appreciate the both It has already done a great job, jaguar, shouting job as well. I am diver, I'm sure your host, we'll be back with you before you know it in the meantime. Remember, there's ultimately only one way to financial peace, then that's to walk daily with the prince of peace, or I should say, what's up guys, it's J. Look! If you like what you heard in this episode and want to know more about getting started on the ramsay baby, steps go to ramsay solutions, dot, com and click they get started button will help you figure out the best next step. Were you based on your specific situation? That's ramsay solutions, dot, com and click get started.