I the fly from the headquarters of ramsey solutions at the ramsey show where we help people build while the work that they love and create actual amazing relationships. The one and only jade, warshaw ramji personality is my co host today, open phones here at triple eight eight to five, but five, two to five years. and we will talk about you right in front of you

I gather, he's gonna start as of today, Cathy's over and austin texas. Getting our you great. Thank you for it you might call sure, what's up I've heard ya'll advise against using credit cards in favour of debit cards or cash. So my question is why My husband and I take advantage of getting credit card point for travel expenses that required for work, but are going he reimbursed by the employer Your employer is poor. They require you to advance them for your own travel. Now, sir, what are they require to advance them to their own, for your own travel you're travelling on behalf of an employer and they're not paying for it in advance? they're making here for four them. Well, that's that's! Thea published protocol yeah. Why

I dont know we haven't asked them. So now you're understand that if they decide not to pay you one month, does your your credit card this issue, when you understand that I'm the guy that has been counseling and coaching people for thirty five years, so I'm the guy that had the guy walk in with eleven thousand dollars on his. I am acts that are supposed to be reimbursed, but when he went to the office that day there was a padlock on the door and they filed chapter eleven. He got nada. He had left thousand dollars on his amex amex, didn't care of his company had gone broke. They wanted their money anders and about no problem in it for him absolutely for what you? Why are you different? While we haven't, as we have an experience that came situation, not yet, but I was too that's exactly risk. This is true. and all for an airline mile impossible two years, so I

beg you if you're gonna the, if your I want to take that risk. I'd, be very scared about it. A lot standard in corporate amerika. Somehow corporate amerika has conduct employ base into taking. alone on their behalf with the problem of repayment. Then making the risk for that, and I am acting like it's not no big deal, but it is it's. A real LEO have noticed many many times going sideways on people. The elderly, people lose. I run up stuff on their credit card you're. Just not watching this, not reimbursable and so they end up with a reimbursement check this less than a balance. That's right, yeah you can you can been something on that credit card and think I'll get reimbursed for this, but you down and accounting might not think so, and so your look for that, but you don't realize now: let's get you airline mile. And when you use a debit card, the strangest thing happens: you pay more attention cause. It's like real money show The new york out a couple things number one when you use

a credit card you are likely. who spend it to spend more than use a debit card period tongue of research showing that because it doesn't have the same. Friction marketers call it in your brain a lot more. Your chances of spending more are higher where you're doing it on behalf of an employer hoping for reimbursement, your chances of making a mistake are higher obviously you don't think that any of the supplies to you, but it does And so you just more susceptible to risk and problems, and then the third thing is, if anything most compelling argument is yes. I have never met a single millionaire says dave. You know I made it all on my airline miles It was my breakthrough, my financial difference, the difference maker in my financial plan was I too

a billion dollar company, the studies, consumer behaviour in depth, and I- was smarter than them. I wiped them. I didn't spend more and I got airline miles and I actually use the airline miles. I actually gained the system and I became a millionaire because of it never met one thirty years of doing this. Well, let me take it a step further. I know a lot of middle class broke people who think they're gaming, the system and our workers strutting around acting like they got something with an airline mile, but they really didn't at the end of the day I'll. Take it a step further dave. I don't like supporting companies that there entire idle for having revenue is built on failure, failure pay european time. I like that, I like lebanese or offer service. That really would like to help you and they get ready. You from giving you something or helping you do something, you're, giving you a service. I I can't support

a company were the only way they make. Money is by people feeling to pay. Failing to pay on time. That's that's the the top seller right there we're gonna like going to get them in the term, offer an airline mile and oh by the way consume report says so. The eight percent. The airline miles or never redeemed. From now on cathy's, maybe in the twenty two percent, but and she may get a hundred percent reimbursement and she may never overspend. But you are plainly snakes. Cathy luck, but he says I pay my card off every month, but all I know is this: there's a trillion dollars in credit, I debt so somebody's lion and it's up right now. Yeah and somebody I and I gotta tell you the number of people that we ve coached out of credit card bent over the years. The said it all started, because those too, we get a free airline ticket and then here's the other one- that this one's humorous to me, this is not kathy, didn't bring. This up. Boulders keep on the subject for a minute and the discover points.

You get you get points back the out and get to suit yourself So here's the deal you spend a hundred dollars to get two dollars, maybe he walked to me how that causes wealth The eu, in order to get two dollars, you spend a hundred yeah. What math class did you? People go to the school of the brook Antonia? It's that The kind of stuff is out there, and so what I? studied and the way we with the process that we use here is com, since that grandma had studied where companies are being predatory, stay away from snakes and I studied wealthy people. I find out what wealthy people do and yeah some wealthy people, Cathy, do have a credit card and some of them do pay it off every month, but none. some claim that

was somehow I financial breakthrough. That's right in. you're, already spending more mental calories on this than its worth, even if you're getting full redistribution on this show you ask why? That's why you spin you're more likely on a travel expense account to spend money, does not reimbursable our get maryland much about about which did a three hour about three institute as I get my or lemons, and so your more likely spend more your higher risk when you are loaning this corporate amerika care Where is your money, hoping they're, going to pay you back each month, scary stuff, and we have seen the times that they didn't? You can't just assume assuming it's in trouble. You know what they say about it. I've heard this was the ramsey show.

protecting your family comes with important responsibilities and potential pitfalls, because the in today's world is more complicated than ever. That's why? The? U s concealed carry association is giving away one of their most popular resources right now for free, it's called the complete and sealed carry and family defence guide inside it you'll find twenty three family defence strategies, six post incident tips finch of training league, information and more go to u s c c, a d calm slice, ramsay and get you free guide from a company. I really trust, that's you, see a dot com, slash ramsay jade marginal remsen personality is Michael owes today. Thank you for joining us america, open phones, triple light two five, five, two to five nicky, isn't montgomery alabama, I nicky

welcome to the regime and thanks like all sure, what's up. Ok. We have just recently found out that my husband ball is actively trying the sale of the company we're the only ones in the company that no this right now, because I had with the financial guy who we're gonna, be the one to gather all that financial information to patients. you'll buyers. We do have a heads up, which is a blessing he, the baltic, also indicated that we would be getting severance of about two hundred thousand. Of course, taxes will happen, I'm out of that my question years after taxes, How should we manage their knowing we're going to freeze unlikely? Now income, wealthy, No, that you're going into a season of likely no income. Can you

prepare on the front end so that you dont have a season of likely no income, Well with him being that the financial person of the company we just kind of feel like it's the right, thing to do this day until the last day, one another- I am not suggesting not staying that early autumn over draw blondie out or for the large, though you start the mixture. Well, we Started looking on reduced, we don't know if this will be an external aid or speak. My we're just not sure yet, and that will be hearing from you can get from leads in the pipeline that you try up, as you do know right. we're working on that he's already had a view. In our view, my real substantial yet, but he has had a few energy. That is the case. What he's the cfo how large a company

Ah, real sure gift in our discussions with these brokers, who are kind of, I guess the middle man on trying to get this bail, completed or wounded beginnings of it, but in where these Girls have indicated. That would be, you know, tens of millions of dollars bianca food, so that not only got how many have always. I'm I guess it's probably to fifty two three hundred, you your fire, all of them I don't know we don't really know how they are going to shake out well in order. for me to stay. If I'm, your husband you're going you're you're gonna have to sit down with any sit down with his boss tomorrow. And you say

I'm willing to stay with you and help you complete. This transaction, like we ve, been talking about, but my own requirement is that you put severance package in writing. In order to do that and the keep an open line of communication with me so that I have good timing issues I can line up my next thing to say not to line up with this. If I, if you surprise me, censure telling anybody else and you decide you're, not gonna. Tell me something, and I guess Surprised I'm gonna leave you with this. My god. You're only agree with you. I may not always be the obligation to him goes away. If he's not willing to a put, the severance in writing be put an homage to an open line and perform through an open line of continuous communication about timing probability and whatever we're not us. for any

The ten million were not asking for any that. That's not yours as he is. He owns it, but he d. I owe you, if you're, going to, if your husband's going to stick with him, he does owe him communication and the severance and writing otherwise, I'm going to leave now yeah, because what where's the negative side of his boss. Doing for me: I can't figure it may downside. If he's really gonna, do it all right but this guy's secretive and doesn't want to tell anybody. You know You don't need a blow off. I all your customers and all your employees. I agree with that, but he's really really holding this closer means that the phrase that scared me nicky's, when you should the only reason we found out because he needed my husband's help, meaning that the sky really isn't the discussing this with his senior leadership team, any we owe them a discussion, that that's how long interpret that area, but he made

He needed my help. Otherwise I would it not be on primary. Otherwise, you not shut the other senior people are gonna, be out hot under that's what you're telling me oh boy. That scares me dealing with this guy discuss his heart. Or so I'm gonna be hot little hard core back let's go you're gonna communicate with me and you're gonna put sharon's packaging riding in then You can keep working the interviews and and line up something where you start the next day and the two thousand and seven package actually becomes a signing bonus them The extra now you should. We give this this two hundred thousand, of course, less access power, You think we shared manage that if you have a new job, that's equal uterus thought on the baby. Steps where we are if a middle way we're dead. Yeah we're, don't worry I'll. We have it a tiny mortgage

forty three and on our mortgage. Would you say hot hang onto that or our now? If you have a job and pay off the mortgage, that are, you got the severance? Ok, but if you then I'm gonna hold on the cash like crazy. Until we land the new job and then it'll pay off the mortgage and and do some investing and some generosity and some enjoyment after going through the stress of this, he may want to go. You guys may want to go on a really nice high end cruise for two and you shit, oh yeah yeah. Can I go to the walmart on the seas that stuff, okay, good stuff, hey thanks for calling in Nicky good stuff hunters in Houston, texas, hunter. What's up, David, Jr you're doing better than we deserve, sir. How can we help I am a twenty four years old, exploring ay company change in their residential construction field. It would be good

for the get paying off, but I'm not sure if it's a great move for the career you want to go on with, why would it be a bad move for the career to the credit card company for the high in god can start custom construct whether that your homes, totally fifty three thousand take her, I have no benefit except the gas card that pays me six thousand annually. Ah, I just received a five percent raise last week after ten months at the company, I'm still underpaid for my street near this I picked up beside hustle, do mean extra aid, five hundred anyway and about the need for a new guy. I reckon the new guy fortune, five hundred company bring. Ninety two ninety five thousand base plus a bonus. That's not a good career move. Why? I'd I'd? My gut tells me after I'm, I'm building three custom homes tolling up to eleven million dollars, and I have been told me-

but my button bright people they can afford this kind of stuff. It's my turn to us. My own company, I might just wagon right right, right, network nah, nothing, sir, no you're, twenty six Yes, sir nobody's higher new to build a million dollar half year. I shall I don't mean to be mean, but another hundred billion truthful, I, like you other your sharp guy, and but the alarm again, you know in in five years might be, but in five years you ve lost two thousand loss of income, not working for these other folks chirac, and you stated to me that, even after a five percent razor still under paid by the industry disturbing? Why, they do that

sir shining there's something bothering you about your current company but caught because it statement there. Making by under paying feels, like you know, very know, they're under praying is right. Yes, I I'm. That's not why if there's other reasons do not change, maybe, but I think I'll go. In fact the other gig europe they turned to become accustomed builder. A bureau network, but workin for free or cheap and some taking advantage of yours. What you're talking about a done? Some appealing to me, I'm walking this is the rams asia I say it all the time dead is dom and casual king, but when it comes to life, insurance, cash value is crap cash value life insurance is a high cost product with little to no return on your side,

called investment. The main benefit is fat commission checked for your agent turmoil. From Zander insurance is a much better way to protect your family future Zander shop. the top companies to find you the most affordable term life rates. Then you can use what you save compared to those cash value, premiums to really build wealth, go to Zander, dot com or call eight hundred three five. Six four to eighty two to learn more today, they watch. All remsen personality is michael host. Today we are people who tune and every episode of the ram to show they can answer all the questions, and there still said Rushed out stock why, gus. Knowing what to do with your money. Isn't the problem you have to actually do it personal finances. Eighty percent behaviour so little Britain had knowledge I know I'm not supposed doughnuts but

eight them anyway, the knowing doesn't matter it's the behavior change that gives you results from the proven way to get. This is with financial peace university. Its know how with the donor, but it'll help with the budget. and the getting out of debt, a promise ship, the clashes, the difference between trying to get in shape and just thinking about it, reading books about it or actually getting a personal trainer and an appointment at the gym. To do that. Work. That's why this clashes work for ten million people and after nine weeks and nine lessons and being with this, or hero called a coordinator. That will love you enough to tell you the truth and encourage you you'll make proper run faster than you ever having your life, and I know you think you already know it all. You do. But you're not doing it common sense, always been around, but still help. Ten million people implement

the common sense, with an annual beach university. I can get all around me stuff and a book jump. You sure. Ok, you can I can promise you that people to go through financial bisher versus you have a much higher probability of becoming millionaires than that by a book and put on their coffee table and use it as a poster and that's what happens a lot So don't just listen to the show and say I already not go you gotta go, do their stuff jumping to finance, Patient diversity ramsay solutions: dotcom sledge, F, p, ramsay solutions, dotcom slice of pay, you I have your enjoy in the show, and you want to help us out- follow us subscribe click, the follow button, the serbs, I'd button click, the share button share the show share, a link of the show, the pod casually youtube people where we're you're watching us anti began and what time or your uncle radio station wherever consuming the show, let people know about it and that helps all of us and on

since you are our marketing plan, your help. Thank you very much todd as weathers todd, as in miami high todd welcomed. The ramsay show dave. Thank you for technical sure. What's up, problem with her apparent note, barons, ah I was asked to pick a monster, a teacher. I teach a course and did it back in two thousand and sixteen it was hard won First thing that went to I didn't even know I was in debt, so I want to thank you for that sure do A nice little question come come proxies here. Everyday in the crock pot. Did everything to do you know on my mother's has been passed, no life insurance they were gathered together for thirty years now

She reminds you not troubled cant do anything so she wants a nice condo. I get it I'm I ever will. If they like also say it was kinda easy, but it wasn't easy because you have to put twenty percent now. goodbye rivers to put twenty percent down you you did it you? How are you yeah. Why I bought it for her, but I put my name on the key okay, so you bought a condo for your mom to live in. Why why she live in, or sugar That's what she wanted. How old are you that's what she wanted. Oh yeah, or unclear what she wants, why are you saying it like if she says it. That's what it is my fifty two years ago. yeah, how old is mom, seventy five and good health and absolutely no money.

You know when he passed Ok well good. I mean well thought medical, you at all the way they were going to decrypt. The data are taken care of. Did she have any money. We're here to answer them so security, but not enough to cover the eccentric It is one upon hiv, though there we had to put six monthly reserve so that, like six thousand hours, Joe And I will make you turned on and I want that's the way, your mom again, that's your mom talkin to you here. I bought the book. I just call your producing the guy favourable terms, struggling, not clear which book.

boundaries, oh yeah. Yes, it's! The answer is no! olive, easier you guys start learning. How does anyone know so how much the hotel? How much is the condor payment handle gleam of mandatory payment. Nine, germany, too, and she spoke be paying that right. as to pensions and social care issues. We can pay a man under dollar payment. Why? Guy and in all directions and the age up, but there's no but The only been looking for this one I want to know you doing this for your mom. What's the implication financially for you, my god, has given you friday, outwits gradually. I wanted the bar to my uncle properties, but I want to retire. I work

structure, and I wanna be, nor do I think, to change my whole career in his arm. Did I watch your net worth my work to properties, I have about two hundred thousand dollars: equity wine, now now the training I have. more pressure from a government cobbler governor job there. What do you make a year, but one twenty five you do not have the money to help your mother any further on now, now my money, you didn't call me up with a ten million dollar net worth it's chump change and you want to go fix extra kitchen, fine, but but she's? Basically, completely out of control. Emotionally and I don't know where you got or she got the idea that you're obligated to give

a condo and fix the kitchen, and and and and and now when people don't respect boundaries and can recoiled talks about in the book boundaries, and then you set a boundary. Please don't expect them to accept at graciously saw suspect most bold salisbury, pissed off at you oh, where oh well answered, I'm sorry I'm back on when you said, and she won't. She said she needs a nice. You know it is almost making these demands on you have you said to her mom, you know, I'm doing the best I can with my money I want to help each nor condo. You can afford it and if you can't live with that. Then I guess- You'Ll- need to move and also the condo, but I'm what I won't let you live here, have already done this much and I just can't do anymore and here I know you really. Can you don't have any money? You don't have enough money.

And I'm not a good faith and almost one boy, all any age. I mean your mommy. I, and so you you don't make six hundred thousand dollars a year. Have ten million dollars is not that's, not your numbers so and you you know the reason you called her as you know, she's weird, and not a control right I mean she's your ma, am sorry to say that. But I mean that what she's doing whacked so you just gotta go somehow ngo. done all under shy. Mom love you, but not only more my love, does your love, for you does not indicate that I have to be out of control. Nor am I an age or a net worth where I take orders from people. Are you the only kid tat? No, but the go to

Your whole family got out where know like greta and this year, and I don't get any the phone calls. Alright, you know what I'm saying: no, it's good practice. You just gotta, build your muscle and she'll figure it out. Eventually, down that no actually means complete sentence I have a shower on it. Is it's hard when your mom but she's she's been wanting to yeah she's out of control whack. This was a ramsey show. this episode is sponsored by better help here John bologna, this time can be great, but the holidays can cause anxiety for a lot of people, especially about giving gifts, maybe Family make super thoughtful handmade things or they demand you by really expensive things or you dislike experiencing time together. We all just pick up random gift cards last minute, no matter how your family does gifting remember to take care of yourself, whether its

easier on yourself during tough moments are treating yourself to a day of rest. From every one hand, every thing remember to give yourself some love this holiday season and Thinking of starting therapy give better but try better help us flexible, because its online, so it can fit into your busy holiday schedule, fill out a short questionnaire to get match for the license therapists and you can switch their any time for no extra charge in the sea of giving give yourself what you need with better help visit better help, dot com slashed aloni today to get ten percent off your first month. That's better help, hiv p dot com, washed. The jaguar shall remsen personality. Is my co host today. Thank you for joining us american or not your life and your money. It is a free call, aaa eight to five five to two: stephen is in new orleans high stephen. How can we help? Yes,

why tonight Navigating family tragedy- and I recently got a reasonable check, to deal with as well, and I was hoping to get an outside opinion on what we should do with it. Oh can tell us which corner. the check is from year to year battle. Well, we're homeowners insurance claim couple of large. Gains came through louisiana demagogy and just many thousand our czech. We have very little dead. and four months ago by also died and its vague, it's difficult to know what to do

difficult to breathe were impossible. What up under your son well, my son was born with a series of heart defects: to have an open art. when he was five months old and how to had a second one last october that we knew was coming and it was, it was to last, for we were hoping for decades. But unfortunately, after the surgery, he does not function, took a dive, And we got him on the our transport list. Birds, he didn't make it. That means. for a long time to me? Well He was only. I see you for five months here. Long

Why what was his name, king edward, conquered James king kane? Ok, While leaving I'm so sorry we'll show I can't even imagine, I can't breathe innocent and adjust match a minute ago. I came her majesty in your own situation on what I tell folks to do, and this is from decade of doing this is any time you are in a situation where others, a tragedy the loss of a loved one primarily trot. Make any big decisions. While you can't breathe, And arm you all your memories will always be there and pain will always be there, but your mind will clear the coming months. The fog will start to lift and

right now you're just walking along and you see something or you hear something in active age and a wave hit you right now, as I right now that'll happen less and less and less, and it's not because you're going to forget him. That's why we don't want to buy the do that. It's just because you're managing through the grief process, and on, but no one is thinking, no one, Doktor John bologna has two phds on one occasion counselling were here. Facing this he would not be thinking clearly it it would be. It takes best of minds and brains and puts a fog on them to go through what you all are going through. So we always tell folks, if you can try doing nothing with that, a big money expanse. So, for instance, if someone calls and they called it? The day had been married a fifty years and her husband passed when she got sick.

hundred thousand dollar life insurance check, and she said what do we do as it was been two weeks and of doing anything, I want you to park this in a high yield. his account and then six once from now when you can start to breathe a little bit better your mind will be a little bit clearer, we can talk about it or even a year from now and so If you dont need sound like you, don't have any doubt. You said except a little bed and. On the house and and I'm sure you guys are zombie mode robot mode. What every colleague on back to work, trying to reach you start lives and are you back to work or you still out. my well. I quit my job two years ago and got back in school, and our plan was that I would stay home with him and do school, while my wife worked, and needs

and he me I. I am still not working the prospect of. China go out and find a job and meet people, usually sounded sunday that sounds okay most days. I can't do that. yeah. I understand a little bit of cheat. She still works nah. She was kind of a status at her job, so she she finds a little bit of solace going in when she can sure where she wants to. Well, I would be working with someone to help me walk through the grief and they can help you figure out the timing of plugging back in Gaza. Positive element, the blogging back in its not punishment, and it's not disrespectful. To your shiny go on and have a life

and so you're going to do that and you're going to do that in reasonable timing and you're going to do that. But in the meantime, if you guys can make your bills- and I guess you can off of your wife's income, I'm going to just take the seventy k and park it in a cd for six months and just cry for six months and get through the get through the worst of the us, and europe get your new Your new reality, the new career saddle, and climb into it, and you know I Tell you january's go, look a lot different and drew it if it is and again it's not the disrespecting, your son, his memory by any stretch of the imagination, but on but the best thing you can do is to be healthy and walk the path, get healthy and took part. That's been, Back in, and so if your working she's working were working plan were looking back,

the future again we're not living in a dark cloud in january or art of a dark cloud, then you're gonna, to make much better decisions, should try not to do anything with big money. Or big money decisions- for six months. At least I like a year, but at least six months and on, but I'm so sorry, man? I can't even imagined. But I am going courage you too, lean into the ground. Process and maybe even gets my talk to about that were heard. Anything at all. because as bad as this sucks, the only thing such sucks worse is for you to still be sitting exactly the same place six months from now, and that's not ok for you, I want I want you to have a better life than that and boy I can't imagine how sad understand your head around eight thanks for the car If we can help further stephen, you call us any time we're here, for you.

so there's a an element. jade that we talk about here, all the time for the listener out there to the us talking to Even there listening in twenty million plus of them. any time you're in a trauma situation. but the brain shuts down doctored lonely talks by anders for russia's during covered. We a doctor bologna on every day, telling people ok we urge situation a whole bunch. People are free, I can now nasty people got drunk over their me man. They wish Gear goin off, because your brain shuts down all the critical thinking skills when you're in trauma. If floods, the chemicals over the critic show we're standing in the middle of the interstate, and you hear mar and there's a horn coming at. You not got I'm about to die with an eighteen wheeler. Your brain does not have time to say well, let's discuss what will

of the eighteen wheeler, which weighs a whole lot more continues to combat seventy. We're miles an hour and impacts your body of one hundred and sixty pounds, what will does it? What will the physics of that be? Your brain does not have time to do that. Show your brain naturally shuts down in a traumatic situation and says why and your most primitive part kicks in the lizard brightly, and so anytime you're in trauma. You don't make big decisions, because your lizard brain is making the decisions, your critical thinking, skills are shut off, so don't make big decisions in those situations, and we all have different things that cause that to happen to our brain. This is the ramsey show.

the ma from the headquarters of ramsey solutions at the ramsey show, where we help people build wealth, do work that they love and create actual amazing relationships, open phones or triple eight eight to five five to two five jaguar shaw. Ramsey personality is my co host today, Greg is in sacramento, hey greg. Welcome to the ramsey show iD thank you sure, I might dont son hadn't been two years ago which his heart stopped and he had little to no blood flow for fifteen miniature zoo and as a result, he suffered a brain injury. And was in the hospital for six months, and they the amazing thing think he survived. The end is actually doing remarkably well. Even

they didn't expect them to survive easter recovery shouting to be able to work and live on his own again and hopefully within a year or so, but he You got a lot of medical debt, given that it is now working yet someday Before that Fortunately, the hospital itself or gave to point a million dollars for which we are extremely grateful. Shirley her insurance. No, that was within church. I need the insurance cover. whatever they covered and then the the The horse said the troll, Bilbil was two point five ninety out, but I gotta get out of these. I got some money I get out of here

but- and I forget- I forgave the rash- that's very nice local radio, grateful too much, and he knows about forty five, a m medical dead, then that to about thirty different providers additional. Yet I think about fifteen impersonal, leaped? Prior to that most? That's all! I'm collections right now and Just trying to I would like to know how I can best help them deal with the debt. So how are you doing with the brain? Injury were what what? What is it back there seventy percent of eighty nine percent back. How are you doing? Well, it's hard to tell in some areas he's probably honour bishop. Another area. She's got difficulties east these two of course, junior college right now in it actually doing really well course, but its art or its. he says it takes me a lot longer in its very good

intrinsically on em, but how it is at any rate, is doing well, is actually thirty. Nine out of you is she starting over sixty seven? What is your wealth engine? Look like. We're in pretty good shape we've, we ve got. Some did you do ask that my position gesture from what I know what you're network. oh. I can't the house relate to two hundred you fifty and then for a one care about to fifty. I'll have my you lately and all refulgent sunlight, and what actually we started following you, men to those of fourteen, because my daughter introduces to do your show and she She used to groom your guard while wow, okay and that's how she met you. She met you guys. A mental published

should follow that we change the tree onwards. So, can you help him financially while we have been in that he's living with Us- and we did cover everything everything for him and all of this- like medical copious and things up until, Just started getting anxious the eye. A little better go on now is paying for Most of that guys. So how can we help you well I'd like to know how best to deal with is death. In dakota actions he has. He has some money saved up from since he's been getting sst. I come on he's hoping to get our son about fifteen thousand okay. You can settle forty five for fifteen on bad, article that so now I've

if he has the emotional strength. If he doesn't in you help him with that, he yeah really does ok, you can sign over the rights for you to discuss this account and here's how this goes. You call the collector that a thousand dollars is owed to and you say we He does not have, but twenty five of what is owed. Shall we offering you twenty five percent of what is owed, and if you do not take that going to get? Nothing, show what can you do? You want to do this or not wearing aim? I remember now we're gonna give you twenty five cents on the dollar or you're, going to get nothing. What Do you want to do no work, to give you you're gonna repeated, because these people are dumb. Ok over. europe too, to stand there and just over and over and over and over, they were

nasty, say now. We're not gonna, have nasty conversations, you're gonna get to talk to a dial tone and when a push them no end button on my phone if you wish to get nasty, but we're gonna do twenty five cents on the dollar and if you don't want to do that I'll call you next month and see if you ve changed your mind, till you want to do that- you're not getting anything, oh and by the way you not having a chronic two things. Under no circumstances, do you give them money into. You have agreed amount in writing right and under no circumstances do they have electronic access to accounts? they cannot gimme. Your checking account number rogers drafted, absolutely not they will cleaning out, they lie, you're gonna have to call a couple of times to get this locked in. Here you can tell a collector is lying if their mouth is moving I'm I'm, usually not the person you out of here You gonna beat you're, not gonna, to feel comfortable finding out that this level of humanity exists in our culture. it the underbelly,

going on out there, but you just gotta, be really tough and really firm. You can have a little fun with it and be sarcastic and mean back if you want- or you can just be really tough and firm enough look worthwhile Talking now I'll call you next month me you're gone next week twenty five cents on the dollar you wanna. Take that give it to me in writing. I will give you I will send it to you. if I may return richly requested casual check What can I get a prepaid debit card for that amount, whatever odin found some way where they can access is account and clean out the fifteen k or clean out a hundred cents on the dollar after they agree. The twenty five cents on the dollar and you How many of these creditors you got there with gregg about there's gonna? Be fine, not I know you're not here. I heard that once you do, then they all start. You again only my son again not only are yorkshire, treatments had settled in full, and you have been in writing. Taste on

keep that forever, though, keep it in your doing on his behalf, he's giving you he's going to give you a sheet that says in writing that you have permission to settle this account for him because he's mentally he's disabled he's got a brain injury, and so you could get nothing people but we're trying to give you what he does have so you're being honorable, but all if you're going to give him everything he's, got you're being honorable and settling. So you know, and just keep just keep talking to him and talking to them, but you're dealing with people that couldn't get a job shoveling out a septic tank and so they're sitting on the phone being a collector. Instead, this that's honorable. Well, that's not! This is the ramsey show.

I vote january is when a lot of folks re commit to doing things. The right way like sticking to a budget and with interest rates and prices the way they are now it may seem impossible to buy home on a budget, but churchill mortgage can help. We ve trusted churchill mortgage for thirty years, they'll help you stick to your budget in the new year with a mortgage, the keep your homo blushing, not a burden. Go to church, your mortgage dot com to learn more. That's churchill, mortgage dotcom! This is a paid advertisement in the village idee one five, nine one: enamel less consumer access, dot, org, equal housing, lindore, seventeen, forty nine mallory lane sweet one hundred brent went in a sea three, seven zero to seven The question of the day is brought to you by a neighborly, your hub for home services, with nineteen service brands nationwide. They believe network, providers have trusted local service provider, knowledge to handle more than a thousand, different services in and around your home

gotta neighbourly dodd gorman find us a drawn service today. Today's question comes from germany, arizona. He says we pay. Extra mortgage each month, so that we can get rid of it more quickly. Very good, we're wonder if refinancing, while still paying extra, will put or towards the principle and help has paid off faster. even though the interest rate would be slightly higher, so here's details are current more it is a fifteen year at two point: seven five percent Balance is a hundred three thousand are correct. Payment is seventeen hundred a month and we are paying twenty five hundred a month very good. right now we would pay off in four years in the house, is worth over six hundred k. If we re fine, ants are mostly payment, would be seven hundred sixty dollars a month and from what I have read the inch does not apply to the other which amount paid and is directly applied, principal interest. Free. Is this true. Dave have you ever read something in it makes

So little sense that it makes Question your own doubt up all aspects everything on the internet is not true. Abraham lincoln said that so yeah there you go yeah. I know I wouldn't refinance number one. You have two points: five percent. Why would you go up to six plus? You know personal interest? great. For this you've got a horse. He thinks that the interest is all charged on the front end and he's not, and and that he's he doesn't understand how this really works. That's why Yeah I saw her heart really works. The interest is calculated on a mortgage just like a simple and sloan. Now, how does what does that mean major your annual interest rate in this case two point: seven ah percent. You divide that by twelve, when you do that, you can get point to two shall about a quarter of a per cent per month. You ok, and so whatever balance is outstanding that month,.

one quarter of one percent or point to two percent is going to be multiplied by. And that is the interest that is owed that month now what that's a hundred thousand dollars in so if you paid that that tiny low, but of interest, and you paid for I have thousand dollars more toward your mortgage next month. the amount of interest would be ninety five thousand times point two to three: ok, and if you down one thousand dollars the next month. It's gonna, be the interest is not The four thousand dollars times point two to three, and The only way a mortgage gets paid off faster due to refinance is if you get a lower interest rate, not a higher interest rates, its mathematically impossible for your mortgage should be paid off faster?

with a higher interest rate, there is no scenario in which they work so, whatever you read confused you or what, just wrong and the most of what you are. these days about finance on the internet is wrong because it really basic math, the amount, standing that month, the balance principal balance that month time the monthly. portion of the interest. Your annual rate divided but well, ok, that yeah. How much of your payment is going to interest? Everything else is going to reduce principle. So let's do it. quick dirty mouth, ok, thousand bucks at two and three quarters twenty seven hundred and fifty dollars per hundred thousand yes per year. Ok! Ok, if you pay twenty five hundred a month, which is what he's doing now. That's thirty thousand orator one thousand times three ninety during

that time, we ve around three thousand origin interest build up per year, so he should be dead in three and a half years, if he just paste twenty thirty thousand dollars a So far in three years, you will pay off ninety social interests. Ok, some our low interest so call at eighty five right or which will leave him about fifty more thousand, show in about three and a half years east at free were the two or three quarter percent mortgage that ain't bad You just keep doing what you do and yet you add, or to it, of course, go away. in fact, right and if you have option to it today It'll go away next month. You're not Pay interest on anything except what is left that challenge point. Russia's calculated that shall mortgage is calculated with it. in a standard mortgage this out there. Now there are some rip off ants company mortgages that use,

rule of seventy eights, which has a prepayment penalty built into it, and you do not get credit for the interest bomb prepay. in principle on those. But that's if you ve got an eighteen percent interest rate and you went to the storefront like beneficial, which is not or something like that right, you gonna, while you rip off, is right. Next to the pond, innovation is the personal. You know you got a thirty eight percent interest rate on personal. Five thousand bucks in their those kinds of she's right, yeah you're going there, but that in get a different mortgage but all hiv fanny may hold. equity loans with a traditional banker. Credit union there, all run on simple interest, would know prepayment penalty and show you do not pre pay the interest, the reason that your pay but if acts and most It goes to interest in and when he ever thirty or mortgage on your first payment is because your

I want you so stinkin heart still who and what its multiplied by your interest rate devout about oil right takes up. Out of your monthly payment? That's right! That's why it starts but if you look towards the end up paying it off, Most all of it is almost all your payment. Then you just pay an irregular payment is going towards principle. Why cause you're how much is infinitely small at that point, graham laughed Your balance and you, you know your pay him a thousand dollars a month. So of course, most of the thousand he's not gonna be interests because they there's not a lot of interest on five grand a trained, well dave. This is this why you ve got the goat status. I think that was a great job. Explaining that whenever there may adjust its it and said Jim, thank you for coming to us because the problem with this kind of stuff is causing people to do stupid but stop it, and I think it was scary earth people anymore

which business it dont know what I just said. I guarantee it and they will show you a six per cent mortgage as a method of getting out of debt. When you have a two and three quarter percent margin, while they're also going to get paid off of that, so oilers that some of that, but some do it out of ignorance, not mademoiselle. Just don't know, this is really basic stuff, but you're done, this should take. It wants to further be romania, it yet you in samara, ligature amateurs, haitian schedule, ass. Yes, I got the columns of the interest and the principal its. If you go to take your calculator, do what I just said exactly what you're going that's how that's developed and that's the spreadsheet formula that I just gave you the you play the spreadsheet formula and create shows, am tables. Zammit rotation tables are, because I showed you, the porch you're, not gonna. Pay me A thousand. This much is principle the this tiny low. Spreads more hours, the whole big things interest and then it goes

now the bottom and hurried to the bats white exciting. To look at could start seeing and show more. Your money goes. Your am schedule and you say: ok Currently, oh a thousand dollars on my m schedule. You find that place on your am schedule. And you say what would happen if I paid fifty thousand where's in principle next month Will you slide down to where you found? One hundred and fifty thousand dollar balance and you'll see how much of your payment is going to go to interest and how much is going to go to principal cause rich orchard, little literally doing as your sliding forward in the amsterdam by preparing principle to the next level under the next play, that principle amount equals that that's how it works and that's. But it's all based on the idea of the interest that charged only on the outstanding balance monthly. It's not bad weekly right once a month, so you could pay. More times during the month done translating sudden change of that

As I only then we re sat once a month and show it to you at the beginning of the month, whatever's standing I'm sure monthly entry. Trade is gonna, give you your interest charge and so that others, russia's work, such good question was in a great explanation and I'm glad Jim that you should have been here or not making fun of you for not knowing, because most people don't know this and a lot of people think that, because the interests are so large on the front in that they're paying all the interest up front and you're, not you're, only paying the interests that you oh each month. That's all this is the ramsay sham. jade jaguar sean ramsey personality is microsoft. Today, thank you for joining us america. The phone numbers aaa eight to five five to two this is common sense,

for your dollars and glands. Whether sin Tampa high gwen welcomed the rams issue. I think he format. taking my caught all? Why you're here Why have they been? I restored nike air stringing, an arm used. It unfortunately passed away and it's time to let it go, though a money What do you need me? Her husband expressed an interest in it a long time ago and hey if your average going backwards put it in a lot of noakes, though I had written him a letter. My question is we're supposed to talk to him, but you know I dunno. I was just supposed to go: what's what's there, I do have another nathan, another askew, and we a The bottom line is that I want you to be fair. I later from slaughter. I'm going. Most of long ago, did your husband passed away?

four years ago? Shore and you got real dish camper together. Restored restored. Okay. So what is it worth if you were just sell it on the open market actually um. It was valued. It was surprisingly shockingly it's valued at thirty three thousand dollars. Why is that shocking? Is it shockingly lower high oil It is high time for me and the other is nineteen fifty fit but lie out people that we have its servants programme. really the it's kind of a it's kind of a it's kind of a tool, a yeah. It's a fad! That's a cool thing! You aren't sure you have a thirty three thousand dollar camper and of your family. Members wants to buy it. Yes, they made expected

at least three or four years ago, but hey if you're ever interested in valiant. Please let us know: okay, thirty, three thousand dollars: I'm letting you know I'm getting ready to put the camp or for sale for thirty, thousand dollars in two weeks. Would you like it before advert up for sale. Did you already do that when I We said that we are going to talk. I asked them if they were interested I'd like to get them first character. To give you a call tomorrow- and I said absolutely let's talk, though I don't know how to I don't wanna, but I don't wanna, be this their offended by you showing your camper for what it's worse than that their problem. Do you think their expecting some sort of a deal because its family Is that what you're worried about? I would get at it? I would get that one, but I don't want to presuppose that I

I don't I'm not very good at thinking on my feet. I get a little flustered and I have to think on your feet, but I also think on your feet. You don't show your camper for thirty three thousand dollars or if you want forgive them at the oldest, because you as an act of love and you ve got. Apollo money and you don't need any money. Do you need money, I would like to use that money to establishing a pouch it from my home in his hat in my husband's naming across at the height of already them helping without if they bother camper you can tell him that I'm gonna show the camper, and whenever I get out of it is going to go into his scholarship fund over at the school and show. And the gaza at the camp. Replace tell me it's worth thirty. Three thousand show gonna put up for sale for thirty three thousand. If you want to sell it for thirty and just say that that's fine, but you don't have to think on your feet. This is not in negotiation, this issue just putting

price on something and what it's worth, there's. Nothing we flustered about is just is selling this campers at making feel some type away. Is that what it is cause you feel like yuri its sounds like this is just ringing you out right now, Turkey has been the do. I truly do we enjoyed it. I haven't you didn't spend packages, but for Like your shown little butter, what was your husband's in your dream, yeah: it's gonna, be it's going be kind emotional. Today day it leaves it it is beyond me. and he was love. He love to go to me. That's the thing might bribery, I don't think he meant for you to give it to them, for really do you. I think you and I

it was extremely general. He was. And what do you do? You think he was expecting you to give this camper away for free? I don't! I don't think I don't either you're. It's not act. We are not being mean when you shells thing to anyone for what it is worth now. If it's worth thirty three, his shoulder to them for forty three, that's being a moral right ok, but you're in when you shall centre for what it's worth. You have done absolutely nothing wrong. If you choose to discount slight not as an act of being a or feeling some kind of guilt trip, but just as an act of generosity, then that your choice It's your item in you can do that to show you say you know they the Gaza this We're tell us it's worth thirty, three, that's what I'm up there on the market for, but

because my husband would love it if you guys had it in, and we knew that you were using it. You know, will sell to you guys for thirty. Instead of thirty three and the money is going to a scholarship fund, so it's yeah, it's still generosity yeah. Does that make? and it it can be done, but I don't, I don't think I don't think we're going much lower than that uk and if they have an expectation of that, their problem, because no, promise was made ever in any conversationally people that they were getting a free camper, they say when it goes foresail. Let us know not when you give the camphor away. Let us know what you like. in so doing a fatal women where there involved there. It is in their lives, this is what called none yeah new business

I don't know who this family member is but they're not in this transaction, but I just figured out what you're worried about and what you're feeling guilty about and what all your feels are about. The jade was smelling it family member. Who was a member of his family? Not yours, correct Oh, your husband's family member might of your family. Ok, then you can really tell him. Where does exactly for the so called a good boundaries? And I don't think I asked you and I I think I will be asking you, and this is none yeah. I saw you call it taco burrito conversation nachos. Not nachos, nachos love that fabulous

Henry cloud will love that now, author of not chose my girl

yeah muslim I'll. Look through the title, it says: nachos nacho, it says mime yeah. That is so good. We'll will get outta here, not a commercial, lord! Oh that's! So good! It's the ultimate boundaries. It is an email that to Henry right now. Oh I knew something was going on in that, though she was righteous and I thought it was the grieving over her husband at first and then I'm like there's nothing, it's her momma or somebody that is not needs a nachos and nachos. You don't get to speak into this. That is correct. Whoever it is has been sniffing around that camper for a while now to one model they got their own little game going or they just like to screw around in other people's business through which some folks are so much better than none yeah nine, your dad gum business. That worked pretty good mind your own mind your own full time job. This is none yet then you and it's nachos yeah so great know what to do to something. I bet alone. He doesn't know that. Well, we'll hear that mental health show the doctor drawn bologna show when he's open because of boundaries. This is gramsci, show

how many jobs have you started january saying this is the year I've got to get my finances in order to make this the last time you feel so out of control with money and sign up for financial peace university in this class. You'll learn proven biblical principles for handling money. All with a group of other people. Cheering you on. That's how you set yourself up to win with money all year guys another year. Will fly by take control today at ramsay solutions, dotcom, slash, F, p! You don't wash all round. Your personality is Michael. I wish to thank you for joining us. America were glad you're here this is, the ramsay, show, when you graduated from high school dead and thereby give you a cop We have a doctor's book as a gift- I hope not high school, oh the places, you'll go. Oh that's! The one

that's my guess anyway, how come I was thinking what at first? I agree language has for years it let just try something was do a graduation, give that actually matters of the places you'll go the get caught, assessment is built specifically for teenagers. they spend some time answering questions in just a few minutes. They get customize results about their specific top talents, passions and mission, and that car is the kind of guidance that gives them confidence about the major they choose the career field. They lean doors and avoid wasting years and tens of thousands of dollars on courses on degrees they dont need want or eight people, years of their lives, trying to figure this stuff out and you can give him the get clear assessment for students for thirty boxer. I'm just dot com go to the store or income dockers. Your choice,

now we're trashing doktor solution or had come out. You know is that how on American is that the point It's I'd rather have the assessment, though than the book I would too, but why can't we pick on somebody other than dr seuss or do both and I'm like anchorman? I just read whatever's put in front of me: oh my god, this is awful. No I'm not going to try doctors anymore, retail public mean people in marketing to rewrite the enrichment means. Just big ol means so Firstly, all joking aside, get the gothic get your kids take this assessment of cot? Wouldn't you have love. Does a hospital senior to have a free conclude about what you were leaning and love? It would have thought of that ramsey solutions, dot, com, slash store? What's the name of the book where we're telling them not to buy? Oh the places you'll go! Oh, I think you ought to get that too. Not to be

and feeling agreement role that even with the get clear assessment we don't have any unless we can o the places your girl, rod, nation, washington d c, robbing? How are you I'm very good. Thank you could take him uncle sure. What's up love. could be a year low my brain and I'm retire. My brain on pay is Without thousand eight hundred, I have about thirty six thousand cash in the bank, a hundred thirty: five in warm retirement account and Thirdly, in the other retirement account guy. Forty three thousand dollars all my house, I want one day, the man I'm gonna map, We needed right now, but I want to thank figure out, and I take a little bit of money out of my retirement account and a car right, or should I just paid our house offers or something else how much

are you thinking about, spending actually the car gonna, be approximately forty thousand dollars for the same amount that I owe my mortgage Well, I mean you're certainly allowed to do that. It's not against the law. You called us and asked us yet and your you shut, your howled, I'm fifty eight okay, I'm a car guy shocked. I can rely on me. I likened a great car. I got my my big raptor with loud muffin sean mush porch corners, and I love that stuff from with yon all this, but the The problem is that these toys are gonna, cost your parts of your future that you don't want the cost you so don't a number one. We don't recommend buying a car a brand. car, unless your main dollar net worth because they go down and value show fast. So,

and you're not they are so we're not buy a new one anyway. Shall we talk about a used when anne when we don't recommend by anything you can't pay cash for and that the total of all of the items that you on, that as motors or wheels, does not equal more than half your annual income, and you said you make what are your ah in every time I bring home for my pension is about we now when we have your marriage, not your retired, at fifty eight Sir workin, on very lucky I sell them properly day. That's it, ok mom! Are you marry only no sir? Not ok So what are you? What is it? Would you spinning your time doing Besides, looking at new cars either right? I sell on ebay, give it

not been much of anything that what's the watch, the car you're thinking of probably like unhandy santa fe, or something like that. Hookah well, one What I would tell you is that I would do if I woke up in your shoes. What are you drama now? What's a car worth your driving now, calm down and now the santa fe, and probably worth around paying the toilet. Can you again you're more than welcome sure will still be friends if you do whatever you want to do, but you called us I would do ass. I would drive the car you're driving in of my house and I would up something fun that I make money really money, good money doing and you're only fifty eight years old, you just pop yes you could go make. You could go, make fifty grand and not simply giving about it and then use that money to upgrade the car after you,

also paid off. I love that plan. Because you just got to you got all this potential right in front of you, and so, if I'm you, I want the car. I agree with you, but I'm a it's smart and that way, if you ever bought something rodney and by the time you finish paying it off or by the time you owned it a little. While you knew you shouldn't about it and you hated the stupid thing that you thought you're gonna love it so that's what does not want. This is gonna, be if you do this wrong cause you're already too smart to do this yeah you're, not done. I think that you ve still got something to offer and I think the longer that you sit around you're going to be for more things to buy, so well, if your article make some money for sitting around all day at all, you know yeah. What that's going to be me. I have to do that. I have to be careful if I'm sitting around we're planning the next trip or the next car purchase. I I'm just like that and am thought of that long. I got the money that's different, but yeah I used to from home. Before I came here and now

I have come here to ramsay. I come in here every day you don't spend as much money don't spend as much money or you don't. If you're working man I used to sit around it's like you're sitting looking around your house just looking for things to replace, what happened during over one hundred? stock when a man is so trial, so young, so rodney, let's go ahead as keep an emergency fund of three to six months of expenses will start. Duncan down there, how should get their house paid off in their lives save up a beyond that and the the fastest way. To do that is just makes them more money you can, double your income without a lot of effort you're! My only make him by forty five thousand a year with your current return, from an income and you could easily go make another thirty five or forty just screwing around? I mean really. Doesn't it you don't have to work that hard, but Oh, do something all with the idea that when I get my car- and I got It- you ve got the house paid off. I'm acquit that and am I should around or nothin again except bilby tranche bend again, but but now that that that's

I would do it if you do this after you have figured out a way, that's fine and reasonably easy to make some more money and you have paid off your house and you have your emergency fund and then you pay cash for the upgrade on the car. If do it then and by one or two year old one year feel really good about rodney. You know so many people tree, work like it's a sentence, and when my sentence is over, I get to in it shouldn't feel like You know you should be fine work that you enjoy doing and not in it for him it not, to be eight hours a day. You know all the hype. It doesn't have to be a grand yeah. It doesn't have to be a grind. It must be somewhere you enjoy doing. The weird thing is your highest income potential across the we're not reverb, I mean the averages people on their fifties loud In the age, fifty nine sixty you make the most money of any decade of your working life, because, although stupid stuff, you did in your early years is now

experience, hm and you and you got dialed in and you hit the sweet spot every time you hit the ball, it's cool, you know and then sixty you start slow down and calm down, but most people make the most of their money in their fifties. So you've got a real opportunity. Rodney still got two of those years left. This is the ramsey show the law from the headquarters of ramsey solutions at the ramsey show where we help people build wealth, do work that they love and create actual amazing relationships, jaguars or rams. Your personality is my co host today been funds aaa eight to five five, two five starting of this hours jill in dallas, high jill welcomed the ramsay show and you mean, sir, I am so grateful that I have been able to get to the wines. Thank you, sir.

for your time were honoured. How can we help avenant? My question please. I value your opinion very much. We have a question. Paying off a reverse mortgage for my father in law, my husband and I make em back A hundred navy in two hundred thousand a year have no doubt that we have about one point. Two in our retirement account We on our house- and we also on two other houses, good. We are. Your network is north of four million. Probably between two and three that one of the have, as this is pretty small craft, the story in itself, but anyway our father, my husband's father the reverse mortgage and we would like to pay it off the m. The interest rate seems to be.

Quite ready to eliminate the yes and in another six or seven years the interest were beaten up the complete value of the home. We would We know from your perspective. We were considering taking out money. They there's a hundred sixty out on the half we were considering withdrawing at my husband is fifty nine and a half We are considering withdrawing it and making it like an investment ban. Throw real estate does pretty eight. I realise that it would have There is eighty nine and that this could be tied up per ten plus years that long term investments usually are just that long term, though I just from your prospect, it would really value your opinion in. Ah, what what do you think of this? What what pitfalls do use a very sad that love eighty nine and he's got himself. In a position where these rip off reversion mortgages to be in a pinch of salt

the great news you guys great shape and you're able to do this, so does your husband have siblings. and he'd, we are thought what at the end that if we took out what we spend on the house plus the same game that we had made on our for one k and not that the hours can you can't The money out and not make something on it is about? I wouldn't have now currently with the house's worth about three thirty, and none of the other siblings, were position to help? No sir, we bought one of the settling the house so that he could live in the county and get county healthcare that put to the house we are. So he is. Very ill and needed to be inside our county lines. The county could cover it. Healthcare outcome,

no one's going to object to anything here then I dont think saw his dad would like to keep it a secret until after he's gone in what way is the think? That's about a lawyer nobody gets less how people spend the rest of the love pissed off again, I know everybody in the family what's going on and what we're gonna do the deed, the house to you guys and you all just pay it off at your house. Pay for the insurance and you pay for the taxes you paint and maintenance to live there for life for as long as as long as he can stay in the house. That is yet able to every have to be careful, where in some other way than that be different, but yeah. Just just you know what child bad burgoynes dated to us now that's our return and we're in we're also going to have to invest more because we have to cover the maintenance and we're have to cover the taxes and insurance where you live there for free as long as you're able to live in the house,

not offer them a fair deal financially, that's all a very kind thing for you all that is, and you are in a position to do it in your You'Ll- be ok, financially you're, not stupid, but doing this and keep it a secret secrets? Are glee and stuff like this? I I don't want to. I dont want to cause a problem. You wanted okay, well, we won't keep it a secret and they need it. Just fair. Ok, and if anybody wants, if anybody has a better plan, we all can do it. But if you, if you don't know better plan, you don't have the money, we're stuck here with the money we can do. This but I want some care or in the family to be yellin later, o jail took advantage, grandpa yeah and it has to be the deal that the house has to be divided up front. It can't be now will give him the money to pay to house. Often then he wills us. The house like it can't be that no, no, you get the house in rome me I'll now away

we were taking the money out of our poor. One can pay it off, but you have me we ve got plenty and there still got another many years. you don't have enough in a sad investment account does not for a one k to do it. Do you I know, we've only got about fifty in another account. We don't have enough to pay it off you're, going to pay taxes. So it's going to cost you two hundred grand to get the sell. There are clear one sixty and so yeah I'm still do it that that's why you work you're able to take her dad, but Not gonna have anybody objecting to this end. and we're gonna control the variables, because he obviously has. we know that he done always make good decisions because he made the decision to put reverse mortgage on there and talk. leave the house in his name, hoping he's gonna make good decisions now we're gonna take care of this so that we can take care of him. I did.

Do the right thing, that's all I don't you know, I hurt you and feeling. Well, you have such a good heart. You do. Hopefully everyone will see the good in this and there won't be an relative that objects if there is at least so, no one on the front end an windisch go. This is what we're doing in you ve got a better plan to take care of him. He's otherwise go end up losing this house. So what people want to do here reverse mortgages or from the pit of hair, color horrible, absolutely horrible, high interest rates High fees and watch where. It is, of course, the reverse as they pay for your. Those of you. Don't know how it works. The paying the old man payments until it gets to sixty five percent loaned when it gets to sixty five per cent loan to value they stop the payments and now they just at interest to the sea, five until each up the entire value, and then they foreclose- that's us

or if he doesn't keep up the taxes and insurance even after they stopped the payments that throws it in default and they foreclosure. So regular home mortgages have about two to three percent foreclosure rate first mortgages? Have a fifteen percent closure right just to get that this? not kidding when I say this is a rip off to me in this. In an are sold on television on ads by washed up actors, but I mean between them fuckin bathtubs on the show, nay marshall. I saw just Joe name Montel Jordan. My greatest fear in life is: I live long enough,

to do one of those ads yeah. You would never! You would never you're right. I would never yeah I'm not that desperate to be in front of a camera yeah. This is the ramsey show. Harry Ramsay solutions were on a mission to bring hope to the hopeless we ve helped millions find peace in their money and their life, and we need people like you to help us. We have open roles in our sales, marketing and technology teams. We offer natural developmental and health benefits to help you live about life while doing life changing work. You wanted the crusade she open roles at ramsay solutions, dotcom, slash careers and apply today. That's ramsay solutions, dotcom slash careers,

Large. All ramsay personality is Michael. Those today thank you for joining us america. The phone number here, if aaa, eight to five five, two to five whole bunch of your brand new? We appreciate that were glad you're. Here you can help us out. If you would, whether your old timer or whether your brand new, we need the help. You can do three things to help us move the show out and help america and serve america by telling them the truth, because we love em, and that's simply, this share the show too. people about it the shared link, if you're on a podcast or youtube or something like that, click the share I share the link, however, you want to do it, I don't care, but This, along to your friends, you can subscriber follow if you're on a pod, and you can leave us a five star review after your podcast or youtube say something nice like five stars because Mamma said of young ailing nice to say don't say anything at all. Move along and now we're

I think we're number eleven podcast on apples ranking comes and goes in the entire world, a podcast which has some too three million pod cash that are out there. That's not a nuanced category, that's of all of them and Oh, thank you guys. We appreciate that we have not, three hundred million dollars on marketing this year, instead, you guys are just telling us you like it by telling each other about it. So thank you. Thank you. Thank you. rina is in Chicago. I katrina welcome to the ramsay. Show power better than we deserve? What's up. No, I have I own a candle in chicago I am looking to buy a second home in national penalty want, and what I'm wondering is why? Because. my boyfriend, I transferred to Nashville

I've been getting long distance, and so now we want you to live in the same city to figure out. If we're going to marriage So you're gonna move from chicago to nashville. Well, I'm not planning. so I'm trying to work it out with my god, though, that I could be fully were mouth, but in the mean, and I had come in and force to be around sixty percent, so I'm He still doing that by going to nashville, but it's the little people. so you want a second home in tennessee. Is your current home in chicago paid, for it is. Ok, so I dont haven't you get current little kay and I really don't want to get any because you know how this works. I do know how it works. Well, My question is: why do you feel that you would have to just like that?

Why do you feel that you would have to buy a home so run an appalling average much when sunk, but even if this wasn't really reiterated, must know boyfriend or anything like that, I we would, we would never say to just walk in Up and buy a house, you would just want to get a further area figure out. What I have been getting a few of the area in the last I've been doing this for a year and a half like going back in four out of you. I'm forty six. What do you make. Make one eighty three and then about a boner said about a hundred. coloring how long you been dayton boyfriend pan, more pandemic loud,

damn it love repeating that came out of it much better than puppy love anderson bites. The thing I'm white me well know I'm robbing the cradle bet. You dont younger, I didn't know that, but it is what it is done out of hell I'll come another reason why I look, I don't just another reason, our electors, another region. We think you're, all some rocky ashura. Ok, you got me so but here's the deal you you're, making a permanent, real estate decision in a temporary situation. That's bad move! This is a situation where you rent until the permanent shakes out There are two issues on the permanent when the relationship goes from boyfriend, a husband and wife, the job allows you to move now we have permanent. Then we buy is a matter of fact.

we by you and him god you're married, until then you, you know you're you're doing this gypsy thing back and forth corporate gypsy thing in remote, some I and long since love affair and all this and all of that just screams rent. Not to mention. If we're really play in this out long term, ok got paid for house in chicago with, say: come tennessee you rent for awhile, you guy, you know your work thing works out. you get engaged, you decide to get married, you can sell the chicago house and you can pride end up buying whatever house you get here in tennessee in cash as opposed to trying to decent. I'm saying you're, so screams route for six now long term, it's better to do it to do it. This way. Ok, but then I hear what you say, but then can I ask my, when she was gonna, be when I buy that place, I have cash and treated in places, potent and I'm wondering

but even so for clear you gotta tell the place. I should like at the end of the story. If it goes like you think unless I'm missing something Is your married and live in nashville right, yeah, yeah The end of the story show you don't show. chicago and you ve got cash and you ve got him hopefully he's worth something we didn't even ask about that. Please please tell us, that's good katrina, yeah it'd be hard. You know you need more copy in. I know that, but it like compared to like there's a lot of earning potential between thirty two and forty six, okay, okay, I see your katrina, I see you out here are just what's happening here is this exciting adventure in your life and death confused that with real estate? Realistic, when things are stable and boring and you pay cash so

I would not buy right now, because if you buy you're gonna end up selling what you buy and doing something different when in that all settles urine billy saying we want to set up our lives, and it's not in this house are not this conduct in so it just it. Bothers you cause your cheap to rent. Does you feel it? You're wasting money but rent when it's in a proper scenario- and this is a proper scenario- is called paying for patients and look. If you move all the way down to tennessee your boy better, put a ring on it. a lot of saying, you're making this type of transition he needs to come through, and I hope that he does for mamma mamma jade with relationship of our original rare thing. They love it good stuff, stacy's in bakersfield, California, has stacy come to the ramsay show. Thank you for having me sure. What's up Well, I am. I listened to your pocket away home from a trip, and I was really you pulled me in.

Very newly divorce. I've never operated on a budget at all. I have them tat in this new single life, a mine and I have oh Little bit of money in a brokerage account and how much debt and how much in the brokerage account only twenty two, thousand, and I have about thirty eight, then in debt half of it is a medical bill and the other half of credit cards And what am I really need? Some action and help. What do you think I mean I think, am I gross about one hundred and seven, and this year I'm gonna get a five percent, though, but hundred and thirteen a year on hand, can I have a pension, no kids right right, all right you know if I were you, I would probably do that. I ain't

If I had money set aside, that was not retirement, I'd probably pull some from it to pay debt, especially if it single stocks. I will cash it all in for the dead and cause we're going to get you on the debt snowball we're going to put you on a budget budget- is not a beans and rice thing. It may be for a little while to get some admit, bills cleaned up yeah. But then, after that, it's your shoe telling your money what to do and giving you confidence in this new stage of life for handling your own money and also want you to download every dollar. That's the budgeting apt that we use here and it's great. It's gonna help its help anybody who's, never budgeted before, learn how to do it, because it's not just an app. We put the numbers in its teaching you in theirs teachings that are built into the app that help youth, out this, so that's what do, and I'm excited that you're on this journey. I think that its exciting that you're finally getting in control of your money that starts with you budgeting. It starts with you getting out of debt and

make sure before you do all of this, that you put aside one thousand dollars for emergencies, because you need that first things. First, for your starter, beginner emergency, so every dollar will do that and I'll tell you what let's just go ahead since you're starting a new phase of life, puts you into financial peace university. That's a nine week class and nine lesson class to helm how to handle money, giving your confidence in this area you, do it don't do it offer free, adjust our gift to you. Ve probably start fresh.

Folks changing your family tree takes more than rice and beans and sighed hustles. It's also about transferring the big financial risks off your family by having the right kind of coverage in place. That's why my team created the coverage checkup quiz. It only takes about five minutes to find out what types of insurance you need and dont need to protect. Your finances make this quiz one of your regular check. Ups starting right now that ramsay solutions, dotcom, slash check up, ramsay solutions. Dotcom slash check up trade, wash all ramsey personality is my co host. Today, I'm dave ramsey your host open phones at triple eight, eight to five five, two, two five nicole in syracuse new york, hi Nicole. How are you I gave and gain, are you guys doing great work? Well, my husband and I are babies that too we just paid off one of our cars

are only car, what a huge nine thousand dollar payment to eliminate that that it took lot of strong, arming my husband to let go of that money to pay it off, but we did Oh last year we sold his car. You get out of that debt and save money, since he is able to walk the balkans job eyes march. First, for almost a year, my husband has a full time job for twenty two an hour and part time was seventeen an hour, and I get sixteen an hour for my part time job. we take home about four thousand five hundred. Thirty a month, so my husband is looking for a better job that would pay him about twenty five june twenty eight an hour. If he gets his job, we would have to come up with at least seven thousand. To get a new car or in a used car we're? I seven thousand come from. Tat. We ve been working with our car broker, auto worker and am that's like around.

number that we are not have the looking for um, but if fire He gets out on me now. until one job, and I won't be going crazy. What the kid that homo they alone. So my question is: is it worth it for him to go that John by constant little peace and a little bit more or should we discussed What we're doing So let me get this straight. I am want to make sure and tracking with you, you if you're saying that, if your husband gets this other job, it's going to require you to get another vehicle, and you want to know as it is. His pay increase worth that cost ya though he could. He work a job and a half, and if he gets other job. He could eliminate the other to god, yeah and then we would actually see each other once in awhile. How would you pay how which path? How would you pay for that.

If a new car, that's the thing like we don't know how he would come up with some features. Did that big payment on the that car and I took a lot can be Thank you get him to do that and you patient, I mean you, don't have to pay seven thousand and having to convince him, doesn't enter into this discussion. The only thing that enters into the discussion is what makes sense for your family. You shouldn't need convincing on that issue, just wanted to do it? You should just want to do very much best for your very amerika. You don't have seven thousand dollars right You can buy a seven thousand dollar car, then what? How much could you scraped together to get to make this happen? I think air like, we got hired after the hiring process. If he got hired within like two months, we might be able to fight them. They together No well about your starting now your partner starting to put aside now, because you know that this is on the horizon, so he would wait until you know. Don't we

until the cards are on the table start start putting aside now so that he has it little just be more clear. Your shoulda income. If I understood you correctly, if he takes this job does not go up. He just is gonna, be ranking less because he's making more at the new job here, Quality of life goes up, so the numbers don't change at your house when he gets the new job. Am I right that's what I thought understood shout jade is exactly right. Then you can say starting right now and by two thousand, our car or afore does not require a three thousand our car, whatever cash you can scrape together, there is no magic seven, the only seven. Is you don't have it, so you can't do it right because you're not gonna election. If you continually figure out a way to rationalize borrowing, money you're can borrow money, the rest, your life and just be normal, broke people

you gotta, stop that you have to draw a line in the sand. Debt is not an option now. What do we do? We want a better life. He wants this better job, I'm with you on both of those things got no issue with them now, We get started over there or how do we grape up some money? When do you think he's gonna here on this job? I got it. Interview on thursday. So is it one undone interviewers or a six week interview process while he's got interview for this job before and then he applied? Geeks pointed the finger over another I'm think company, I mean so why is he was gonna get at this time? What kind of john? What what is it? What is it that he's interviewing for she threw manager or I'll be. Is there any other chains that he can be intervene for the same position? Wiser gotta be the same already. Can he look at public's? Can he look at kroger whatever it is by you haivy, whatever the grocer? we're chains are. It is

just putting all his chips in one bag or can he No I'm just trying to get a bead on, what's really going on right, I guess we were august, but I think he putting out a lot of feeling for job about one bad debts and when you want inside and how I wanna be sure is again I'm not trying to be sure caustic remain he supply This job, multiple terms, it has not gotten it. Why now you're more sure what what evidence do you have I, I don't see. So let us stop them year. tired? I'm working all the time and you're trying to wish this into existence and some figure out a way to buy a car that you'd only to be buying until this all goes down right, you're, just tired You're even fighting baby step to stuff and your tank. starting to get empty? Am I wrong correct there,

I hope your wish comes true. I hope he gets this and you will get a better quality of life, making the same amount of dollars. Debt do you all have left We have could he longed for about ten thousand? And then he has a student loans? you're on for thirty nine thousand, and that our house me up sixty one of them will certainly shall baby step to is the home equity one and the student loan she got. Forty nine thousand left on your household income total in a year, is what ground on before taxes about fifty five to sixty. Okay, a question for you and I don't want to dig a hole deeper, are you guys working towards your long term play for careers? I'm kind of this like what part time jobs like that. I don't because I'm going home play ok here, his delight

ah grocery store managers like Peter them really have a long time waiver. I want you guys, ok in the break, let's up in. Let's get you guys, paycheck purpose, let's do the career assessment all that stuff, because I would have liked. Then coma materials you guys need to get the career thing, yeah, yeah That's what's gonna give europe a little things, and you got this one thing this one aldi shortish one management. What estonia earlier we want, we want to we, Should you earn more for your sake and that's gonna make Whole thing it better and go faster. I hope he gets this one, but if he doesn't, we need a better plan and cause. You still got at your current income. You still got two years ago at bay, step two, when your debt snowball, it's going to you your tire and you're, already tired. So I You think you'll need to get a car. I think the one car is adding to the family stress, even not counting this job stuff. Is that right, crap,

So, yes, we need to do that, and I want him not to have to be coerced in. These things? I want him to be leading into these things with you, the two of you holding hands and walking towards the light right and others to gather. That's gonna make That's gonna lower the stress for both of you as well, because he's giving up his life here living his life it's true and with his family? That's what he chose and that's what he's doing any cause he's a good man, but it's not like. Your mommy and telling a little boy can have candy. That's right! That's not what's goin! On So this is a man whose leaning in good for him and he's he's working with his wife and were fighting for a better future. Gathers to grown ups and that's how it should be. So you got a good. Guy, there he's a good guy. You proud, you guys probably do need a budget in a car into your debt snowball, and start working on the career stuff too? show, but hang

well how about some pick up will get your paycheck purpose book for him, and I am for you back income, when an acre get clear assessment. to figure out what kind of careers to aim at where their serious money they can be taken off the table. I'd love to see your double your income than a five year. Yet this is the rams ratio. Our scope. For that I proverb. Fourteen twenty three there is profit and hard work, but mere talk leads to poverty Staving gangsters. Talent is cheaper than table salt. What separates the town Tat individual from the successful one is a lot of hard work, Lou, Jane, wash our hands. Your personality is my co host today: open phones triple eight, eight, too five, five to two: five: six,

when is up next in cook, phil Tennessee, Stephen welcomed the rams issue. I think she me I'm sure. How can we help? well. Essentially, all my life. I've really been earning below the poverty line, I'm living in a low income area. It's it's kinda kinda goes with with the the lifestyle guess by with recent years of people not wanting to work and you now and that tailored was still alive. a lot of houses and and and more It's going up and everything I dont I simultaneously see opportunity to make a lot more money would I don't really know how to do as well as the halving the dread of not being able to afford a home within the next ten years. So have I got duality sort of thing and I'm wondering would there be advised be for trying to

jump on the opportunity to earn is much income as possible for four somebody's in them, situation. What do you want to do. Well, I've always been enamored with with film and in the art of it. Ah, I I did go to film school about ten years ago. Didn't get to finish it because of how much I I didn't make enough money I'm currently Annie and acting class right now, but I've always want to note, as I've always want to be able handsomely fall back on, but in reality the thing with the arts is the thing with the arts. As you ve gotta make money I until You make money. Hastily is the way that works on bird Well, when when, whenever I hear people talk like this or it's like I've been, I am below the poverty line. I I'm kind of caught up into this. I think you've got it drill down and instead of looking at all those outward reasons. Why just look

you're a specific situation, why're you not getting up and finding work, that's paying more. What is it that keeping you from that? Is it that you don't know what you want to do? Is it that you dont know had it what the actual net step is like water. You need to start asking yourself those questions, because that's what's going to give you the next step forward, so you said you went to school for acting, you try the acting thing. I mean I would want to drill down moron and find out what happened, but in the meantime, what kept you from doing other work. While I am currently in an act in closets has thankfully it's pretty cheap. I can. I can at least afford that when I go get done and obviously, in the bud What I can tell that I've I do what I've done a lot of appalling and it seems to me an educational boundary that I have not been able to crack. What do you do now. Curly human security for their

Venue three three years worth of experience and screening and what you earning her taxes will, over thirty year full time. Yes, man, that's not! poverty level? You know that its lower and lower income, but it's not the poverty level? Ok! in poverty level for a single guy cook for will be. Fifteen thousand rely. like me to natural to me dad? Why do you come here to nashville, for a thirty thousand dollar job. It's just now, I've never been able find much and been couple, show me in terms of dead, yet who our drive each way, where I, where live with, that? Some kind of however, have the ability afford

that was not my friend Henry cloud, says that what we need to do is lay in front of ourselves. setting goals we want to move. We want a level up. We say: ok, Here's what I wanna be doing and that desired future and then once we have the desired future figured out then I have to say: ok what must be true about me, my life about my education, about my location, that is now true now in for me to have Meyer desired future. Now you ask us about it as our future. That makes more money than you make to we ve got an exploratory conversation around that I, and so number one there's not going to be acting jobs and cook felt energy done

you have to move if you're going to do that, you gotta at least get to nashville. You've got to at least be in a metropolitan area, minimum nashville, but the usually new yorker allay even atlanta and and nationals got a lot of film work going on lot of stuff happening. But it's not exactly on offer act right right either, so it might be for music people shorter, but the anyway, so you gotta location issue. If you're gonna be there, that must be true. You can't live and cook phone. Do your drink that does want to show you just you have to start? Ok, what are my barriers? What are my blockers and I'm gonna those down, and I think next thing you do too is what jade was indicating. Is you need to make find something making fifty to sixty thousand a year working forty two eighty hours a week piling up some money so that you can forward to work on entering into the entertainment business, which, if you have the side hustle this

the gig in it may last a decade until you break into those businesses. That's right, whether it's music business, acting business or whatever, with a joke in nashville, is how do you get the next country, music stars attention, a whiter? no it's possible, like I think, sometimes people in the arts they kind of have that. Well, it's been I'm broke because I'm in the arts, no man like cause you at work and the man salmon. I went to dinner. The other night in the valet was part in the car, and I went to tip him, and I said you know Do you have the cure coats? Why can t you he said yeah? He gives me his card with cure code on it he's a guitar player. and he's a musician but he's working as a valet out my horse and I'm guessing. You pray has engaged in a high on restaurant smoking by he was at a high and restaurant. So don't talk soap out of the fact that you can't make money until you become a successful actor that a lie. True blockers, I see immediately, is location. long term dream and why We need to do a whole bunch of sad hustle bigtime fast.

yeah. You know why you took the security job at the venue, cause you to be around entertainment, not because it was a good job here You're still, you just won't be around it because you love it. You love page. You love watching those people on the stage dream and you're going to be that guy some day and you might be, I hope you are, but with the security gig is not, I mean, obviously not make a lot of money and and commuting from cookeville to do. It is just plain: math radically ridiculous yeah just does not work, so you know you're you're working all the time, there's plenty of work and is not education. Based than all there's plenty of work from retail to restaurants to over. cutting grass to construction manners. destruction, jobs on national there's, more cranes in nashville skyline right now than there are buildings. So this year there is all kinds of work you can do it twenty to forty bucks an hour in a town like nashville. If you

I find that I cook when I cook for is not a small town anymore right, everybody and cook village, not at the poverty line. I can promise you that that's true and I know several multimillionaires there. Personally, you know I've said it before and I'll say it again when it comes to this stuff, you've got to until you write it down on paper, step by step what yours your steps in this process, are gonna, be its floating around in your head and its cause, in chaos and its causing you to either paralyze. You not do anything at all or it is causing you to go and a million directions you gotta get this paper and write down our rights damages our future and one billion is to be in the acting world. Film world I've Two things I have. I immediately see already in a five minute conversation we move and we works out, hustles more to eat. Really really well while were pursuing the dream, then probably more blockers that have to do

actually entering into that industry needed to get that yeah there you go. I dunno anything about that stuff. You need to get an agent because your agents going to give you feedback onto what you need to do next to actually be able to land work, so make sure you're sending your things out to people who will give you were going to send your proximity principle by KEN coleman and from paycheck that purpose by KEN coleman, which both deal with these issues, you're a good man, I'm honored, to talk to you. Thank you for calling that puts us our the ramsey show in the books, we'll be back with you before. You know it in the meantime. Remember, there's ultimately only one way to financial peace, and that is to walk daily with the prince of peace, Christ. Jesus hey! What's up guys, it's jade! Look! If you like what you heard in this episode and want to know more about getting started on the ramsey baby, steps go to ramsey solutions, dot, com and click. The get started button will help you figure out the best next step for you, based on your specific situation, that is ramsey solutions, dot, com and click get started today. Ramsey here you know, budgeting doesn't have to be boring. You just need a budgeting app, that's made with you in mind and that's every dollar. The every dollar app has helped millions of people work, the baby steps and take the stress out of planning and managing their money start budgeting with every dollar for free right now, just go to ramsey solutions, dot, com, slash every dollar and download the app today that is ramsey solutions, dot com, slash every dollar.