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from the headquarters of Ramsey

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Solutions, it's the Ramsey show

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where we help people build

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wealth Do work that they

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love and create actual amazing

0:43

Relationships. I'm Dave Ramsey your

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host Rachel Cruz number one

0:47

best -selling author host of the

0:49

Rachel Cruz show and co

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-host of smart money happy

0:53

hour my daughter is my

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co -host today. Open

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phones at 888 -255

1:00

-225. Jamie is in

1:02

Tampa, Florida. Hi, Jamie. How are you? I

1:05

am doing good. How are you? Better than

1:07

I deserve. What's up? Well,

1:10

the basic question I

1:12

have is what I should

1:14

do with my mother -in

1:16

-law's situation. Man,

1:18

if I could answer that, I'd be rich. My

1:22

in -laws gave us a piece

1:24

of property in 2006. We

1:26

couldn't afford to build on it at

1:28

the time, so we saved. And

1:31

we ended up building our house

1:33

in 2012. After

1:35

a couple of visits from

1:37

my in -laws, they ended

1:39

up asking us if they could build

1:41

a small home on the back

1:43

of our property. The property that

1:45

they gave you? Correct.

1:48

So it's titled to you and your husband.

1:51

Correct. Okay. Um, they

1:54

were living in

1:56

upstate New York. It was a

1:58

lot, my mother -in -law taking care of

2:00

her home and my father -in -law.

2:03

And she was, you know, talking to

2:05

my husband daily, multiple times a

2:07

day about what a struggle it was.

2:10

So we felt like, yes, this

2:12

was a good idea. We could

2:14

help them when they lived here. And

2:16

so they sold their home

2:18

in New York. and

2:20

use that money to build a house in the

2:23

back of our property. Well,

2:25

during the building process, we kind of

2:27

all realized at the same time

2:30

that technically they did not own it, that

2:32

we owned it because it was on

2:34

property in our name. It

2:36

crossed a huge fight. My father -in

2:38

-law like stopped the builder from building

2:40

and we had a couple of

2:42

days of discussions. I'm sorry,

2:44

why was this a surprise? I

2:48

guess because we never really had

2:50

conversations about it. You don't need a conversation. They

2:52

deeded the property to you. Did they just

2:55

forget that they did that? Or

2:57

did they think when they were building on

2:59

the property that automatically the land under

3:02

that is there? So is that what

3:04

they thought? Right. That's the assumption, yes, because

3:06

they were paying for that house. They didn't

3:08

think about the land underneath the house.

3:10

Yes. So this was

3:12

10 years ago. Every

3:14

six months for the past 10 years, we've

3:17

had a fight about ownership of

3:19

their home. My

3:21

father -in -law passed away about three

3:23

years ago. My

3:25

mother -in -law since then has just

3:27

become more and more angry

3:29

about this situation. How old is

3:31

she? She is

3:33

80 and in good, very

3:35

good health. In January,

3:37

there was a

3:40

huge fight where she accused

3:42

us of doing this on

3:44

purpose for the sole

3:46

purpose of taking her home, in essence,

3:48

taking her money. She

3:50

wants to be able to

3:52

leave this home to her kids

3:54

equally and her will. So

3:57

we assured her

3:59

we were never going to deny her access to

4:02

this home. Like she said, you could kick

4:04

me out at any time. Well, we're not going

4:06

to do that. But it's

4:08

just constant, the fighting. So now

4:10

we haven't spoken to each other

4:12

since January. She

4:15

got a lawyer to

4:18

send us a letter

4:20

accusing us of elder

4:22

exploration and demanding $180

4:24

,000 lump sum payment. And

4:28

what is your all's net

4:30

worth? Net

4:33

worth

4:35

probably over a million. How

4:39

much land is involved in

4:42

the total tract? An

4:46

acre. No, no,

4:48

no, I mean the whole property. Including

4:52

yours. Yeah, an

4:54

acre. How do they build

4:56

on the back of an acre? It's

4:59

an accessory dwelling. It's just a

5:01

one bedroom, one bath, 900 square feet,

5:03

and that's how the county defines

5:05

it as well. We share all

5:07

the utilities like it goes through. She built

5:09

a tiny house on the back of your

5:12

acre? Oh, yeah, I should

5:14

have clarified. It's a tiny house, yes. Oh,

5:16

jeez. So she's

5:18

not only not speaking to you, she's in

5:20

your back window. Oh, yeah,

5:22

eight feet away. Oh, no.

5:26

Sorry, Jamie, that's not funny. No,

5:28

every lawyer I talked to said the

5:30

same thing. It's terrible. They laughed at

5:32

first. But every lawyer you

5:34

talked to said the same thing, which was what? Basically

5:38

that, yes, she may have

5:40

improved the property. This

5:42

is the exact words of one.

5:44

The value of those improvements

5:46

is largely offset by her continued

5:48

occupancy. Meaning

5:51

that she's gotten $180 ,000

5:53

worth of value. There's

5:55

not a tiny house in the

5:57

back corner of an acre. On

6:00

no planet is worth 180

6:02

grand. the

6:07

drama of some people. Okay.

6:11

Yeah. So, so many,

6:13

so many, I thought, I thought there was

6:15

a hundred acres and, and she was

6:17

in the back 40 or something. No, no,

6:19

she's in the back window. This

6:22

is bizarre. Oh

6:24

my gosh. So what are you going to

6:26

do, Jamie? We

6:28

don't know. That's,

6:30

morally, I feel like I

6:32

should give her money, but it would require me. No,

6:34

I don't morally giving her anything. Okay,

6:36

okay. No, you didn't

6:38

do anything wrong. I agree

6:40

and the son The

6:43

funny part is the son

6:45

-in -law stopped construction on

6:47

the tiny house The brother

6:49

-in -law her son -in -law

6:51

our son. Yeah The husband

6:53

the husband the mother -in

6:55

-law the father -in -law stopped

6:57

construction because he's mad at

6:59

them the father -in -law

7:01

I thought you said it

7:03

was a son -in -law No

7:05

father -in -law. Okay, and

7:07

he got the construction. Yes.

7:10

Yes, correct of the

7:12

tiny home. All right, so

7:14

What a horrible Trying

7:16

to do something nice that

7:18

went bad story, correct.

7:20

Mmm. So No, you know

7:22

what I'm gonna do. I'm

7:24

just gonna hire an attorney You've

7:26

got the money go give

7:29

somebody ten grand and keep her

7:31

tied up till she dies. Oh

7:35

I mean, that's really all you

7:38

can do here because she's

7:40

not she's not you're not going

7:42

this relationship is not going

7:44

to be healed this woman's lost

7:46

her marbles and and We

7:48

can't find them. They're somewhere in the

7:51

backyard near a tiny house. Near them,

7:53

near Jamie. Right next to you, Jamie,

7:55

wherever they are. That's where the marbles

7:57

are. Oh, shoot. I mean, really, there's

7:59

not a... Well, you won't reconcile. I

8:01

mean, the perfect world is that there

8:03

is reconciliation. Is your husband, Jamie, is

8:05

your husband like on the forefront of

8:07

this emotionally and like in it? Or

8:09

do you feel like you are more

8:11

like holding the pieces together of everything

8:13

that's happening? Like, do 'all both have

8:15

emotional ownership in it, or is it

8:17

more you, more him? Well,

8:19

no, we're kind of equal in

8:21

that, but I'm kind of the go

8:23

-between right now because he has completely

8:26

written her off. Okay, because that's

8:28

her son, so I feel like his

8:30

weight in this. He needs to

8:32

make the decision because it's the most

8:34

painful for him, but

8:36

if it was my situation here, I

8:38

would just say, You know, you hired a

8:40

lawyer, so I guess we've got to.

8:42

And I would just stall and file continuances

8:45

and do in -depth depositions with every expert

8:47

on the planet and just, you know,

8:49

just tie it up for five years. And,

8:51

you know, then it won't be there.

8:53

It's awful. But I mean, that's all you

8:55

can do other than try to make

8:57

an angry old woman that did a crazy

8:59

bad deal happy. I don't know how

9:01

you do that. I know how

9:03

you do it for the rest of you listening.

9:05

Don't do this. Ever.

9:16

You know, one of the first

9:18

things I discovered working in the

9:20

financial world is how absolutely devastating

9:22

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9:24

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9:26

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9:28

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9:30

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9:32

trying to make ends meet. I

9:34

also discovered that there are a

9:36

lot of ripoffs in the life

9:38

insurance world like that whole life

9:40

crap posing as an investment opportunity. What

9:42

you need is level term life

9:45

insurance, usually 10 to 12 times your

9:47

income, which is the smartest, most

9:49

affordable way to protect your family. The

9:51

key is finding an independent broker

9:53

who represents a ton of companies and

9:55

works for you, not for the

9:57

insurance company. This is exactly what my

10:00

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10:02

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10:04

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10:06

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touch. Give them a call

10:30

at 800 -356 - 4282.

10:43

Couple of cool things going on around

10:45

here right quick. Dr. John Deloni and

10:47

I are in the middle of a six city

10:49

tour. We've been running in

10:51

and out of Nashville this week because we

10:54

were in Louisville last night. We were in Durham,

10:56

North Carolina. with several thousand

10:58

folks and tomorrow night will be in

11:00

Atlanta. You can still get your

11:02

tickets to that and then a week

11:04

away will be over in Phoenix

11:06

and then to Fort Worth and then

11:08

to Kansas City. Kansas City sold

11:10

out. Fort Worth is almost sold

11:12

out but you can still get a

11:14

ticket. And Phoenix is a little bigger venue.

11:17

You can still get a ticket there for

11:19

sure. Atlanta, if you want to come

11:21

tomorrow night, you can get tickets. But thank

11:23

all of you for turning out. It's

11:25

been a lot of fun. We were in

11:27

Deepak, the Durham Performing Arts Center last

11:29

night, and it was kind of fun, Rachel.

11:31

I sent Rachel a picture. She and I

11:33

were on that stage 11 years ago

11:35

on 2014, doing the legacy journey tour at

11:37

that time. And some of these venues

11:39

like this, the famous people that do the

11:41

venues, it's very cool because you can

11:43

go backstage and you got like Ozzy

11:45

Osbourne signed the back wall or Metallica

11:47

or, you know, John Lennon or something like

11:49

that. And then there's Dave and Rachel

11:51

signed the back wall, you know. And so

11:53

but so I took a picture of

11:55

it and sent it to Rachel to remind

11:57

11 years ago we were on that

11:59

stage. But thank all of you for turning

12:01

out for these things. We appreciate it.

12:03

We're having a good time. John and I

12:05

are by the time we get done

12:07

with six cities, we're going to get good

12:10

at this. And so we're getting better

12:12

every night already, so love to have you

12:14

do that. And all of you that

12:16

purchased the book, Build a Business You Love,

12:18

that was launched last week. My

12:20

latest book, Teaching Small Businesses, the

12:22

Clear Path of Mastering the Five

12:24

Stages of Business to Grow and

12:26

Run Your Business Properly. Thank you

12:29

so much for that. One

12:31

week after a book launch, you get the

12:34

best seller list, and it came out number

12:36

one. number one bestseller so thank you guys

12:38

for that we appreciate you and uh and

12:40

the new york times picked it up and

12:42

ran it on their bestseller list their bestseller

12:44

list is not a uh is not based

12:46

on number of books sold it's just based

12:48

on i don't know i think they like

12:50

it or something i don't know what they

12:53

just they just decide what they're going to

12:55

put on there and so they put it

12:57

on at number five on new york times

12:59

but it was the number one selling book

13:01

in the week uh by numbers so that

13:03

that makes it according to book scan and

13:05

so it shows up on All

13:07

the all the best seller lists that use

13:09

the actual sales to categorize the best sellers,

13:11

which I kind of thought that's what a

13:14

best seller is. But anyway, that's how

13:16

it works. So thank you, guys. We appreciate

13:18

you very much. And this one is really

13:20

fun, Rachel. So Ramsey fans

13:22

tell us all the time that groceries are

13:24

one of the largest line items and it's

13:26

a frustrating line item in your every dollar

13:28

budget. It's frustrating because, you know,

13:30

like you have to get a mortgage for eggs

13:32

these days or something, right? And

13:34

so. 59 %

13:37

that's six out of ten people

13:39

say it's a challenge to save

13:41

money on groceries without sacrificing quality.

13:43

So we've been working on this

13:45

behind the scenes and going okay

13:47

where how can we help our

13:49

audience by partnering with someone in

13:51

that world to get you guys

13:54

the best possible deals and so

13:56

forth and we ended up settling

13:58

on the folks at Aldi. They've

14:00

got fresh meat organic products. got

14:02

some we got some claps in

14:04

the audience right here in the

14:06

live the live studio audience Yeah,

14:08

they give you a great selection.

14:11

They've got fresh meat organic products

14:13

their Aldi exclusive products are fun

14:15

They're sassy with their labels like

14:17

Ramsey is so we like them

14:19

and they're really good quality and

14:21

they're really cheap the lowest prices

14:23

of any national grocery chain

14:26

and shoppers say big. The family of four

14:28

can say $4 ,000 a year shopping at

14:30

Aldi versus some of the others. And so

14:32

they're a brand new sponsor, a brand new

14:34

partner here. And Rachel, you know,

14:36

the young moms that you run around with and that

14:38

you know and that are in our family, Aldi's

14:41

a big deal. Well, it is

14:43

because it's a simple grocery shopping experience

14:45

if you've been and they make it

14:47

quick. It's not overwhelming. Like I feel

14:49

like some other of the competitors you

14:51

walk in and it's just like this

14:53

like acres and acres and acres of

14:55

land, of grocery aisles. It's really

14:57

simple. And honestly, it is, it's the prices.

14:59

After you get done shopping, you look at

15:01

the toll and you're like, oh my gosh,

15:03

but it's all good stuff. Like it really

15:05

is the quality, their meats, their produce, all

15:07

of it. So I know it is one

15:09

store in all of my content. And for

15:12

years and years and years, when we talk

15:14

about groceries, I always mentioned Aldi, even before

15:16

they came on as a partner with Ramsey,

15:18

but Because it is true. That is what

15:20

you get. You save money and you get

15:22

good quality products, which is what we're looking

15:24

for. And it is, it's when we talk

15:26

to families and I know this, having three

15:28

little kids, it is the number one budget

15:30

buster is food. Like when we do our

15:32

every dollar, but even I hate

15:34

to say it, we're at the end of the

15:36

month and I went in today and did

15:38

my transactions and I may have upped our grocery

15:40

line items. was like, crap, we have one

15:42

more week. I got to get stuff. It's just,

15:44

it's just, you just end up spending a

15:46

lot, but. With Aldi, you're able to do it

15:48

in all these trips and get good quality

15:50

stuff and keep it within the budget, which is...

15:52

Well, when we started talking about this, gosh,

15:54

about 18 months ago, with our internal

15:56

team, our broadcast team, and they're like, okay,

15:58

go find a partner and Rachel's like, go

16:00

get Aldi. Well, yeah, because you were the

16:02

one you're like the focus group growing to

16:04

and it's like I think it is the

16:06

fastest growing grocery train in America right now

16:08

So they're popping up even with a Nashville

16:10

like they're popping up everywhere So there should

16:12

be one near you guys and so if

16:15

you are a family or not a family

16:17

like whoever you are if you need to

16:19

save on Groceries when it comes to your

16:21

budget and your money Aldi's the

16:23

place go. I'm really proud to have them

16:25

as a new partner. Yeah, they're amazing. Good

16:27

quality stuff at a good price and no

16:29

frills and good sassy labeling. I like it.

16:31

Their marketing is fun. Their icon of people.

16:33

And all their, I don't know. You're seeing

16:35

them more and more on social media and

16:37

stuff. They're funny. Oh, that's cool. That's good.

16:39

Good. So stop overpaying. Start shopping at Aldi.

16:41

Go to Aldi .us to find an Aldi store

16:44

near you. ALDI

16:46

.US. James

16:48

is in Chicago. Hey, James, how

16:50

are you? Where they

16:52

how you guys doing better than I

16:54

deserve. What's up? I

16:57

Have a situation with my

16:59

car. I want to get some

17:01

answers on it. So I

17:03

have a I have a Jaguar.

17:05

I owe $38 ,000 on it

17:08

It's a 14 % interest on

17:10

the loan You really wanted

17:12

a Jaguar didn't you? I really

17:14

did. Yeah Things are changed

17:16

now the Jaguar doesn't run I'm

17:19

in the Jaguar dealership

17:21

quoting me $35 ,000 to

17:23

replace the engine What the

17:25

flip? What'd you

17:27

do to this brand new car, dude? Yeah,

17:30

that's the thing. I'm not really

17:32

sure Something happened with cylinders and maybe

17:34

it's potentially oil but the engine

17:36

shot It's cost a lot of money

17:39

just to tear down that engine.

17:41

So I think a lot has to

17:43

do with the labor cost also

17:45

so they Instead of

17:47

fixing the engine, they suggest replacing the

17:49

whole thing. What year model

17:51

is this thing? This

17:53

is a 2018

17:55

Jaguar wagon, the Jaguar

17:57

XF Sportbrake. So it's kind of like

18:00

a pretty rare Jaguar. So

18:02

somehow you blew the engine on a

18:04

relatively new car. I

18:06

did. Yeah, less than 80 ,000 miles. That's

18:09

weird. But it was

18:11

2 ,000 miles over my warranty.

18:15

I have no warranty. My

18:17

question, I guess, is I'm really

18:19

stuck. Wait a minute. Did

18:22

you do you? I mean, that's

18:24

very strange from a mechanic standpoint. Well,

18:26

did you get a second opinion, James,

18:28

or did you just go to the

18:30

dealership? So the

18:32

dealership, the only people who have diagnosed

18:34

it, I have gotten other quotes. Did they

18:36

give you a cause? What caused it?

18:38

Was it your fault or the engine failed?

18:41

The engine failed like you didn't

18:43

change the oil ever in 80 ,000

18:46

miles or you ran the oil

18:48

out of forgot to put the

18:50

plug back in at the Jiffy

18:52

lube and the blues I mean

18:54

did something like that happen or

18:56

the stupid engine just failed at

18:58

80 ,000 miles For my understanding

19:00

the engine failed there is not

19:02

any Signs I failed the car

19:04

was not due for an oil

19:06

change. Okay. All I wasn't leaking

19:08

oil anything Okay, so there's two

19:10

possible ways you go and probably

19:12

both of them. Number

19:14

one, I'm contacting an

19:17

attorney. I

19:19

would sit down and talk to the general

19:21

manager at the dealership in person and I

19:23

would say 2 ,000 miles over warranty. You

19:25

need to call Jaguar. This ain't

19:27

cool. This is

19:29

bogus this engine should not have failed

19:31

Jaguar needs to stand behind this engine

19:33

even though it's out of warranty They

19:35

need to do it as a PR

19:37

campaign because otherwise we're gonna have another

19:39

PR campaign that's gonna be ugly and

19:41

you don't want that one and I'm

19:43

gonna sit down with a general manager

19:45

not the people in the shop the

19:47

guy running the dealership and Then I'm

19:49

gonna go see an attorney if they

19:51

won't fix it Okay, yeah sure you

19:53

get anything to stand on but I'm

19:55

gonna do that the second thing I'm

19:57

gonna do is I'm gonna buy a

19:59

used Jaguar engine from a salvage yard

20:01

and Have a anybody but this dealership

20:03

change the engine out and that will

20:05

be eight or ten thousand dollars It

20:07

will not be thirty five thousand dollars,

20:10

and you need to fix the car.

20:12

It's too expensive to just let it

20:14

sit there melted down Rachel,

20:37

do you ever get these sketchy text

20:40

messages that are like, hey, you need

20:42

to update your address and verify so

20:44

we can get you the package you

20:46

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22:20

Joey is with us Joey is in

22:22

Cincinnati. Hi Joey. How are you? I'm

22:25

doing well. How are you both doing

22:27

better than we deserve? What's up in

22:29

your world? Well,

22:31

I've had a very stressful

22:34

past week. I found out

22:36

that I was pregnant with

22:38

my second child and My

22:40

partner was just not ready

22:42

to take on that responsibility.

22:44

So he left The

22:47

good news is that I don't really have

22:49

much debt. I just have a car payment. And

22:52

now I'm just confused on where

22:54

to go from here. I started out

22:56

with your debt snowball. And since

22:58

I only have one thing, I was

23:00

ready to, you know, attack it,

23:02

pay 1600 a month extra and wipe

23:04

it out by the end of

23:06

this year. But now since the baby's

23:08

coming, I don't know

23:10

what to do. Do I still

23:12

do that? Do I save for

23:14

the baby? What do

23:16

I do at this point? I'm just so confused. I'm

23:19

sorry kiddo. How old are

23:21

you? 32.

23:24

So I feel like I'm too old

23:26

to be having these problems. Who's the

23:28

dad of the other kid? Same

23:30

guy? Yeah. I'm

23:34

sorry? Yes. You

23:36

have two children with the guy that

23:38

left? Well,

23:40

yes, one and then one baking in the

23:42

oven. Yeah, that's what I mean. Okay. I

23:45

count baking, okay. All

23:48

right, what

23:50

do you

23:52

make? After

23:55

taxes with no side hustles,

23:57

it's 4 ,500 a month that

23:59

I take home by myself. I

24:02

started listening to your show a few

24:04

months ago, so I started doing side hustles.

24:06

Now I bring around like 5 ,500 homes.

24:08

I just don't know if that's sustainable

24:10

long -term as the pregnancy gets. No, it

24:12

won't be. It won't be. That's not reasonable.

24:14

You've got to take care of you

24:16

and the baby. As you progress in the

24:18

early stages, you know, you've got to

24:20

work around maybe morning sickness or something, but

24:23

you can work for a while longer, but

24:25

then you're going to run into this.

24:27

So, uh, no, what we teach

24:29

folks to do when you have a

24:31

baby on the way or you're facing

24:33

some, uh, some kind of a storm

24:35

of some kind is stop the baby

24:37

steps, stop your debt snowball, and pile

24:39

up cash. So I

24:41

want you to stack cash. I want you

24:43

to get the biggest possible pile of cash

24:45

you can get between now and baby. Treat

24:49

it like you're paying off debt. Have

24:54

you got health insurance? Yes.

24:57

Okay. So can you

24:59

save $2 ,000 a month? Definitely.

25:02

I can definitely do that. What could

25:04

you save? What's the most you could say?

25:09

With the side hustle, I

25:11

think maybe like 2 ,800. Okay,

25:14

I'm going to call it 3 ,000

25:16

for five months. That's 15 grand. Yeah.

25:19

And then it slows down

25:21

to maybe a thousand a month

25:23

as you reach towards the

25:25

delivery date. Okay. So

25:28

maybe you're going to have between

25:30

15 and $20 ,000 piled in an

25:32

account. That gives me a lot more

25:34

peace. for you delivering this

25:36

baby with a smile. Okay.

25:40

Yeah. Have you got health insurance? Yes.

25:42

Good. Okay. So you need to

25:44

contact them and find out what

25:47

your out of pocket is going

25:49

to be for labor and delivery

25:51

with your health insurance policy. And

25:53

with appointments, OB appointments and everything.

25:55

Yeah. Well, the whole thing. I want you to

25:57

almost have a baby budget. Okay,

26:00

to get ready for that part of it.

26:02

So here's what happens at the end of this

26:04

story and it's gonna be a great story. At

26:07

the end of this story, you

26:09

come home with a brand new beautiful

26:11

baby and you've got $15 or

26:14

$20 ,000 in the bank. You

26:16

write a check and pay off

26:18

your debts and you finish, you

26:20

start your baby steps again and

26:22

you build your emergency fund and

26:24

now you're a mama bear against

26:26

the world. And you're going to

26:28

be one of those warrior princesses

26:30

that goes and makes things happen

26:32

as a single mom. You're

26:36

a hero. Thank you guys. You're

26:39

a hero. You

26:41

suck at picking men, but

26:44

you're a hero. Or he sucks.

26:46

No, he sucks. He sucks, but you

26:48

picked him. Yeah, I mean, he's awful.

26:50

Oh my gosh. And besides that,

26:52

I don't know the, I don't know the

26:54

laws in Ohio, but most states have a

26:56

law that if you make a baby, you

26:58

get to help pay for it, men. And

27:01

so I'm going to go ahead and

27:03

contact human services in your area and find

27:05

out what we can do to get

27:07

this deadbeat jerk to start writing checks for

27:09

these two children. How old,

27:11

how old's your first one? He's

27:14

12 now. He's 12 years old. You've been

27:16

with this guy 12 years. 14

27:20

years And your heart that's

27:22

that's a that's a grief

27:24

in of itself that's a

27:26

divorce So he mentioned the

27:28

fact that he needs to

27:30

start writing checks to you

27:32

for kids Well, he asked

27:34

me how much money I

27:36

wanted I'll tell you how

27:38

much money I want to

27:40

want a third of your

27:42

salary To be honest I

27:45

All of my emotions because this has

27:47

been so shocking because I had an

27:50

RUD so I wasn't planning for this

27:52

All of my emotions have just been

27:54

spent on like surviving. I agree not

27:56

But at some point in this process

27:58

he gets to be the financial daddy

28:00

Whether he wanted to be or not

28:02

because that's what the law says And

28:05

I don't know what child support ratios

28:07

are In your state, but you need

28:09

to find that piece of information out

28:11

and you need to let him know

28:13

that that piece of information is coming

28:15

his way Yeah, because I mean if

28:17

he if he started writing you a

28:20

check right now for three grand a

28:22

month wouldn't make me mad it helps

28:24

these numbers, right? It

28:27

does it definitely does and how much

28:29

I want to make an increase. I don't

28:31

want responsibility So I'm leaving tough buddy.

28:33

You made a baby. The law says you

28:35

got responsibility. That's how this works No,

28:38

do you have a good support system around

28:40

you? Do you have family or anyone? Um,

28:43

I haven't a church that I

28:45

started going to and I also have

28:47

like International students group that I

28:50

volunteer at and while they're like little

28:52

kids They they're like they feel

28:54

like family. Yeah. I want you to

28:56

go sit down with your pastor

28:58

at the new church and With no

29:00

shame say this is where I

29:02

am And I just

29:04

want to let you know I'm here

29:06

trying to learn about God and learn

29:08

about and start my life fresh spiritually

29:10

because this is a new church to

29:12

me and I and I've got these

29:15

sit this situation With these two kids

29:17

and I'm by myself and see if

29:19

and I think you'll see if it's

29:21

a decent church And it probably is

29:23

you're gonna see some wonderful people start

29:25

putting their arms around you in a

29:27

lot of different ways But they won't

29:29

do that if you don't tell them

29:31

okay, they're not mind readers I

29:36

know. You're gonna

29:38

be okay. As a matter

29:40

of fact, you're gonna be better than if

29:42

this hadn't happened. You're gonna be

29:44

okay. You're stronger

29:46

than you think you are right now. Yeah,

29:49

you're at the bottom of

29:51

it emotionally, right? From a relationship

29:53

breakup, the news of a

29:55

pregnancy. I mean, yeah, you're at the,

29:58

it's exhausting, I can only imagine. So

30:00

it goes up from here. It really does. But

30:03

yeah, man, we run into single moms

30:05

all the time on the show, and

30:07

it is incredible, incredible what they do

30:09

when they rise to the occasion. And

30:11

you're going to be that. You're a

30:13

great mom already. mean, you have a

30:15

12 -year -old. So, man, we are

30:17

cheering for you. I did want to ask from

30:19

a financial standpoint, how much do you have left on

30:21

your car to pay off? You said it's your

30:23

only debt. Yeah,

30:25

so I have $14 ,000. Oh,

30:28

perfect. OK, that's great. Yeah,

30:30

cuz to the

30:32

number like a big

30:34

lump some I

30:37

want you to pile

30:39

up cash Yeah, yeah,

30:44

yeah, so yeah, but but to the numbers earlier

30:46

Joey you could see that Yeah. I mean, by

30:48

the time baby comes and when you come home,

30:51

everything's good. You'll have this car paid off. Yeah.

30:53

When baby comes home and you're healthy and the

30:55

baby's healthy and there's no problems and you don't

30:57

need this money for anything, you're right. Check and

30:59

pay off the car that day. You're free. So

31:01

you don't really lose any ground net net on

31:03

your get out of debt plan. Okay.

31:07

We're just, we're just doing the, we're just doing the hokey

31:09

pokey a little bit. We're setting it to the side and then

31:11

we're going to put the right foot in and then the

31:13

left foot in, right? Okay. Thank

31:15

you. Thank you both. Hey Joey, listen.

31:17

If you need us, we're here. You

31:19

call anytime, okay kid? Okay.

31:22

We got you. Have a great

31:24

day. You call that pastor today.

31:26

You call Human Services and find

31:28

out what your rights are on

31:30

child support. Those are two calls

31:32

you make today and you start

31:34

stacking cash. Stacking cash. Stacking cash.

31:36

You're gonna be fine. a

31:39

lot stronger than your voice sounds right now,

31:41

I can tell. This is the

31:43

Ramsey Show. Hey

32:07

guys, what's up? It's Jade Warshaw.

32:09

And look, if there's anybody who

32:11

knows about student loan debt, it's

32:13

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32:16

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32:18

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32:20

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32:22

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32:24

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32:26

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32:28

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32:30

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32:32

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32:34

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32:36

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32:41

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32:43

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32:52

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32:54

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32:56

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32:58

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33:00

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33:02

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33:05

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33:07

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33:09

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33:11

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33:13

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33:15

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33:17

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33:22

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33:24

Ramsey. So

33:34

Dr. John Deloni and I are

33:36

on tour. We were in Durham, North

33:38

Carolina last night. We're in Atlanta tomorrow

33:41

night, April the 25th. Doing the money and

33:43

relationships tour will also be in Phoenix

33:45

on May the 5th, Fort Worth on May

33:47

the 7th, Kansas City on May the

33:49

9th. You can still get tickets to these

33:51

except Kansas City is sold out. I

33:53

think there's some singles in the seats available.

33:56

If you want to sit apart and

33:58

there's more than one of you, you could

34:00

come or if you want to come

34:02

as a single, you can get into Kansas

34:04

City, but they're basically gone there. RamseySolutions.com

34:07

slash tour. We'd love to have you.

34:09

If you're on YouTube or podcast, click

34:11

the link in the show notes. Rachel,

34:13

last night, one of the things Dr.

34:15

John and I talked about was one

34:17

of the one of the topics that

34:19

the audience selected, the audience votes on

34:21

the topics each night for these was

34:23

the marriage advantage. And we

34:25

were telling them that one piece of

34:27

research that's been out there I

34:30

think it's been done probably five

34:32

or six times. I've seen

34:34

it over 30 years. I've seen,

34:36

you know, fresh versions of

34:38

the same research is has confirmed

34:40

the most recent piece confirms

34:42

what we call the success sequence.

34:45

And these numbers are statistically mind

34:48

blowing to me. OK, the

34:50

success sequence is this. If

34:52

you are a

34:54

millennial or younger

34:57

and you graduate

34:59

from high school

35:01

or higher and

35:03

have not had

35:05

a baby yet.

35:09

And you get a full

35:11

-time job and have not

35:13

had a baby yet. And

35:16

you get married at

35:18

age 20 or older and

35:20

have not had a

35:22

baby yet. In

35:25

other words if you

35:27

graduate from high school

35:29

get a job and

35:31

get married at age

35:33

20 before you have

35:35

children You have a

35:37

97 % probability of

35:40

being outside of poverty

35:42

in the middle class

35:44

Only 3 % of the

35:46

people that follow that

35:48

basic sequence that was

35:50

very standard in 1960

35:53

You would be shamed in a

35:55

neighborhood if you didn't do

35:58

those things in 1960 if you

36:00

had babies out of wedlock

36:02

Meaning you weren't married when you

36:04

had babies You had a

36:06

97 % graduated from high school

36:08

you graduate from high school and

36:10

you got a job you

36:12

got a job and you get

36:14

married at age 20 or

36:16

later and then and only then

36:18

do you have babies and

36:21

You're married. You're not shacking up.

36:23

You're not My partner. We're

36:25

not, it's not any of that. Okay. It's,

36:27

that's, when you follow that sequence, you

36:29

have a 97 per, there's very few

36:31

things in this life that you have

36:34

a 97 % chance of doing. Very

36:36

few things. I'm not sure I have a 97

36:38

% chance of getting home without getting in a

36:40

car wreck. I mean, really,

36:42

that's those numbers are staggering. They're

36:45

staggering. You're right about that. Point

36:47

taken. Everyone knows I was like, yeah. Everybody

36:49

in the booth is nodding about Dave's driving.

36:51

I drive like I'm in a race all

36:54

the time and I have my whole life.

36:56

But aside from my driving, that's not the

36:58

point, OK? Ninety -seven

37:00

percent. I

37:03

mean, so if you if you're if you

37:05

like know a teenager, tell

37:07

them here's a ninety -seven percent

37:09

chance that you're not in poverty

37:11

in America, that you're in

37:13

the middle class, just do these

37:15

simple things in freaking. order.

37:19

It changes everything. The

37:21

audience was sitting there with their

37:23

mouth open when was going through this

37:25

stuff and then we start pulling

37:27

out the other numbers which if you're

37:30

35 years old and you're married,

37:32

your net worth is on average 15

37:34

times higher than a single female

37:36

and 5 times higher than a single

37:38

male. Interesting.

37:43

Single meaning including people you

37:45

live with that you're not

37:47

married to. Wow.

37:53

Well, again, because it's two incomes coming together. It

37:55

is two incomes coming in. But guess what?

37:57

There's two incomes coming in if you're shacking up,

37:59

but they count. To

38:01

that study. Yeah. Correct. Yes.

38:04

Because it's not a household.

38:06

Yeah, so they didn't count that. And

38:09

you can just decide, I'm going

38:11

to leave. I don't want the responsibility.

38:14

You can just decide that and

38:16

thus you end up with it

38:18

totally men in their 30s and

38:20

40s make 26 % more income that

38:23

are married than unmarried males in

38:25

the same bracket I Think our

38:27

wives must be whipping us like

38:29

a rented mule and sending us

38:31

out the door That's all I

38:33

can figure get your butt out

38:35

there and get to work I

38:38

mean, you can have a reason to work.

38:40

Yeah, you've got to pay for stuff. Yeah,

38:42

because it's more than you. I mean, yeah,

38:44

there's a nobility to it. I don't know.

38:46

There's a lot of reasons for it, but

38:48

that's the actual data. These

38:50

are actual facts. Now, we

38:53

can have, you know,

38:55

theorize about what causes that.

38:57

Yeah, but it's very

38:59

interesting. The advantage of

39:01

a good Long

39:03

lasting marriage. Oh, men in a

39:06

good high quality marriage live nine

39:08

years longer than men that aren't.

39:11

I know she's nagging on me about

39:14

eating that again. Don't tell

39:16

me I can't eat that again. You're

39:18

bothering me and quit trying to make me healthy.

39:20

You're killing me. As

39:22

a matter of fact, you're not. You're

39:24

making me live 10 years longer on average.

39:26

I mean, that's in that interesting women

39:28

live five years longer. We're

39:31

not as much help to you as

39:33

you are to us. Exactly. You're

39:36

welcome. You're welcome, man.

39:40

Oh, man. You know what? And from

39:42

no data, just Rachel's life, I

39:44

know so many great single women. I

39:47

do, too. So many great single women. I don't know

39:49

where all the dudes are. I'm like, guys, come on.

39:51

Come on, guys. Make the first move. Come

39:54

on. But man, they just, you know, the

39:56

first movie has become a great single guy.

39:58

That's a big move right there. I know. Be

40:01

eligible. Be an eligible

40:04

bachelor. Yes. Yes. There's

40:06

some old phrases. what's funny is so many

40:08

girls on our team like that we do

40:10

like shoots with and content, all of them,

40:12

the ones that are single or like literally

40:14

if he says I own a home, they're

40:16

like, oh my gosh. Because the amount of

40:18

guys that just don't, they're just kind of

40:21

like, I'm good. I'll just like. It's just

40:23

like there's not this like feeling of proactiveness

40:25

as much, right? I know it's not true

40:27

for every guy, so I'm not gonna like,

40:29

you know, stereotype. gonna paint with too broad

40:31

a brush, but that. Yeah, I know, but

40:33

I do find that a lot of girls

40:35

that are in their late 20s and early

40:38

30s that are, you know, they're red. They're

40:40

like, I would love to be married, but

40:42

all these guys that they meet, me. I

40:44

gotta find somebody that's... Yeah, and

40:46

if they own a home, they're just like, oh

40:48

my gosh, this is amazing. He owns a home,

40:50

right? So it's just like, man. He's got a

40:52

job. Yeah, exactly. I know. So,

40:55

oh man, that's interesting though. That's good

40:57

data. It's very interesting. Yeah, it is.

40:59

And, you know, these are things you

41:01

can control. They're variables you

41:03

can control. You make

41:05

choices. Yeah. And you

41:07

can control your choices and create, when

41:10

you control the controllables, you're

41:12

path to high quality relationships, to

41:14

happiness, your path to

41:16

wealth is you have a

41:18

higher probability of hitting those. And

41:21

so that that's very interesting. You know, the other

41:23

one we throw out, and this was a big

41:25

hit on Instagram, but that the

41:27

data shows us that couples that can agree

41:29

on four things have a very high probability

41:31

of staying together. If they agree on these

41:33

four things before marriage, the number one cause

41:35

of divorce in North America, they money fights

41:38

and money problems. So when you can agree

41:40

on money, what we're going to do with

41:42

it, how we're going to handle it, debt,

41:44

savings, investing, all that kind of

41:46

stuff, lifestyle, all that. When

41:48

you can agree on that ahead

41:50

of time, not perfectly, but align

41:53

on the values around it, the

41:55

principles around it. Number two, agree

41:57

on religion, be in the

41:59

same religion and regularly attend a house

42:01

of worship of your religion, whatever it is.

42:04

And number three, agree on kids. Are we going

42:06

to have them? How many and how they're going

42:08

to be treated? Who's going to run the house?

42:10

Us or them? Are we helicopters

42:12

or are we in charge of

42:14

the asylum? And

42:16

number four, how do we deal

42:18

with the extended family? How

42:20

you deal with his mother, her

42:23

father, whatever, all that stuff. How

42:25

do we deal with all that?

42:28

And so extended family. And but

42:30

it and it tapers off

42:32

like that. I mean, but if

42:34

you can be in in -depth

42:37

pre marriage counseling agreement on

42:39

those four things, your probability of

42:41

your marriage sticking is very

42:43

high. I can I can give you

42:45

about four other variables that will get you

42:47

up in the 90 percentile that you will still

42:49

be married 25 years later. And

42:52

so you graduate from

42:54

school, graduate from college. Again,

42:58

regularly attending a house of worship. Make

43:01

$50 ,000 a year or more. Household

43:04

income. Put all these things

43:06

in there. The numbers just go up, up, up

43:08

and up on probability of success. And these are

43:10

controllables. This is the

43:12

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-E -L -P.com slash Deloni. Live

45:29

from the headquarters of

45:31

Ramsey Solutions, it's The Ramsey

45:34

Show. We help people. Build

45:37

wealth. Do

45:39

work. That they

45:41

love and create actual amazing relationships

45:43

Rachel Cruz number one best -selling

45:45

author Most of the Rachel

45:48

Cruz show co -host the smart

45:50

money happy hour and my daughter

45:52

is my co -host today Open

45:54

phones here at triple eight

45:56

eight two five five two two

45:59

five Catherine is in Pittsburgh.

46:01

Hey Catherine. How are you? Hi?

46:03

Good afternoon. Thanks for having me. Sure.

46:05

What's up? Um,

46:07

and getting involved in my

46:10

mom's estate, she's 74 years old,

46:12

um, and her husband

46:14

is 77 years old. They are

46:16

both retired and they live on

46:18

a income between social security and

46:20

retirement of about $47 ,000 a year.

46:22

My mom had inherited from her

46:24

sister on a payable upon death

46:27

account, um, um, a

46:29

fairly decent amount of money

46:31

that she spent like within

46:33

a month before, um, a

46:35

family member contested the will. And

46:38

10 years later, my mom is

46:40

being forced to pay that money back

46:42

to the tune of $160 ,000. And

46:45

my mom is not in the,

46:47

they own our house free and

46:49

clear, but I'm not sure exactly

46:51

how to navigate this next step.

46:54

They're charging her with embezzlement because

46:56

she has not paid this money

46:58

back. So she

47:00

can either go to

47:02

jail or Somehow

47:05

if we can come up

47:07

with some soluble financial plan

47:09

So she's in credit card

47:11

debt to the tune about

47:14

125 ,000 so she does

47:16

not qualify to put a

47:18

loan against her house Which

47:20

would it's probably around $250 ,000

47:22

value. I'm confused how she

47:25

lost this. Yeah, exactly Payable

47:27

on death is a simple

47:29

thing it is but it

47:32

Unless she fraudulently did a transaction,

47:35

there shouldn't be any criminal

47:37

involved. The will

47:39

does not supersede pay

47:41

-a -ball -and -death. Well

47:44

according to the court and the

47:46

lawyers that we've had, which I'm not

47:48

saying they were quality lawyers at

47:50

this point, I mean it's just been

47:52

in the court system for 10

47:54

years that it's just been back and

47:56

forth between that lawyer

47:58

and this is my aunt's

48:00

estate and when she died

48:02

she didn't the lawyer that

48:04

designed her will um three

48:07

months prior to her passing

48:09

from cancer was um he

48:11

left his her husband completely

48:13

out of the will didn't

48:15

acknowledge him didn't recognize him

48:17

so that's why part of

48:19

this reclaimable estate um comes

48:21

into play because they were

48:23

married over 15 years So

48:25

he's entitled to 50 % of

48:28

her reclaimable state, which she

48:30

had left the house to

48:32

my mom also with her

48:34

daughter. So they're co -owners

48:36

on that house. What's

48:38

the status of that house? He's

48:40

living there. He's living there.

48:42

The whole plan was my aunt

48:44

too. So she's the co

48:46

-owner on it, but there's no ruling

48:48

against her on that. Correct. Why

48:51

can you not offset that? Well,

48:53

we we offered to give him the

48:55

house in exchange because he's lived there all

48:57

these years, but he doesn't want the

48:59

house because He's in the early stages of

49:01

dementia and his family just wants the

49:03

money So then sell the house Well, but

49:06

the other person that owns the house

49:08

isn't on board to sell the house my

49:10

aunt had given When she wrote in

49:12

the deed like she gave us a dollar

49:14

amount like if we wanted to buy

49:16

each other out This would be the dollar

49:18

amount. So I presented that offer to

49:20

The other owner and said hey, you know,

49:22

I'll buy you out. She's like, I

49:25

don't want to sell and I'm like, okay

49:27

What do I do now then the

49:29

lawyer says that I have to do a

49:31

partition on lawsuit in order to force

49:33

the sale Which is it goes to public

49:35

auction instead of market so you get

49:37

half the price of what you would Now,

49:41

it doesn't necessarily go to public auction. The

49:43

partition sale can just demand the sale within 90

49:45

days, and you put a real estate agent

49:47

on it. Okay. So

49:49

I know that that's an option. That's where

49:52

the money needs to come from, because apparently

49:54

she's got to pay this back. I'm a

49:56

little shocked. I'm not an attorney, but I

49:58

was under the impression pay on death superseded

50:00

any will. But I

50:02

don't know. I'm not an attorney, and I'm

50:04

certainly not an attorney. Why didn't she put her husband

50:06

in the will? Was she of sound mind? Is that what

50:08

he came back to and said? No,

50:10

she was of sound mind. He doesn't

50:13

read or he doesn't write. And she

50:15

was afraid that his family would take

50:17

advantage of him because they've always just

50:19

been like that. So she put my

50:21

mom in charge so that my mom

50:23

would always make sure that he had

50:25

a place to live, the taxes and

50:27

insurance were always paid and yada, yada,

50:29

yada. So that was the ultimate plan.

50:31

But of course, we can't talk to

50:34

him or anything because of this case

50:36

that's been happening. Yeah,

50:38

I'm gonna force the sale of the other house and find

50:41

the money to pay this back. your

50:43

mom and dad's house. What's it worth? Around

50:45

250, okay, and the balance

50:48

on this judgment is how

50:50

much? 160, okay, and

50:52

she's got 120 and credit card debt,

50:54

right? So I don't like these I

50:56

don't like anything in this conversation and

50:58

you don't either it's not fun But

51:00

before I go to jail, I'm selling

51:02

my house Well

51:05

that and I they live in

51:07

Ohio, so I wasn't sure that I

51:10

don't I My lawyer's checking in

51:12

to see what those laws are if

51:14

they can force that sale or

51:16

that lien on that sale I'm talking

51:18

about your mom and dad's house

51:20

Right, but yeah, that's what I'm saying.

51:23

It's in Ohio this property in

51:25

this But they have changed this what

51:27

I'm what I'm also confused about

51:29

is are they saying because it was

51:31

a federally insured bank That

51:33

she wrongly took the money on

51:35

a POD account or paid on

51:37

death account and they're calling that

51:40

a federal crime Well, she's actually

51:42

been charged with a federal crime

51:44

correct. Yes, you're sure. Yes. Yes,

51:46

that's definitely okay, then they had

51:48

they had the then they had

51:50

because it's a federally insured and

51:52

FDIC Bank that you know, monkeying

51:54

with them makes it a federal

51:56

crime is the problem. But I

51:58

don't understand how she monkeied with

52:00

them. I think it's, I thought

52:02

it was a civil matter, but

52:04

I'm, again, I'm not an attorney.

52:06

I'm just aghast at this whole

52:08

story. So that's what

52:10

our, we went from our

52:12

paid, because he doesn't

52:14

do, our paid lawyer, he doesn't do

52:17

criminal law. And again,

52:19

it's this, it's my uncle's family

52:21

that's forcing the state to file these

52:23

charges against not the state, it's

52:25

the Fed. Um, yeah,

52:28

okay. Okay. So, so me. It's

52:31

FBI. It's the FBI saying that

52:33

if you monkey with a federal

52:35

bank, it's the FBI that files

52:37

the charges. Well,

52:39

that's what we don't understand the embezzlement charges

52:41

because technically she was entitled to this

52:43

money. That's what I'm able upon death. I

52:45

don't understand them either. It doesn't make

52:47

sense at all. If you did a fraudulent

52:49

transaction and stole the money out of

52:51

the account, I can imagine that the feds

52:53

would get down on your head. That

52:55

makes sense. But this was not fraudulent

52:57

in any way. It was simply functioning off of

52:59

the POD that paid on death. I don't know.

53:01

Again, I'm practicing law here on the air, which

53:03

is really dumb because I'm not any good at

53:05

it. I'm

53:09

forcing the sale of the other house

53:11

with a petition if I can't pull that

53:13

off your mom and dad have to

53:15

sell their personal home If there's no other

53:17

way to stop these criminal charges because

53:19

I'm not putting a 74 year old in

53:21

jail I will sell my home before

53:23

I do that. I'll sell her home before

53:25

I do that So I but I

53:27

can't even imagine how we got here But

53:29

you don't sound like someone that's blowing

53:32

this out It sounds like you actually know

53:34

what you're talking about and so that

53:36

makes me think I don't because I don't

53:38

know how we got here Wow. Scary. Man.

53:43

People, do your will. Tell everybody in the

53:45

will how it's working and then tell the

53:47

rest of them to shut up. Before

53:50

you die, if you're going to piss people

53:52

off, do it before you die. One

53:54

last hurrah. Hey,

54:19

George Camel here. So you're thinking about buying

54:21

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54:23

a lot to think about, and all those

54:26

decisions can feel overwhelming. Well, here's

54:28

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54:30

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54:32

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54:34

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54:36

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54:38

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54:49

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E F Y comm slash Ramsey

55:39

might not be in all states

55:41

Today's question comes from Ian in

55:43

Louisiana. My partner

55:45

and I recently had our first kid

55:48

before we were together. I

55:50

used to save money like crazy.

55:52

Fast forward to now and I

55:54

realize she has a massive amount

55:56

of credit card debt and student

55:58

loan debt. She also has a

56:00

mortgage on her house that's very

56:02

high. She has a job,

56:04

makes her payments fairly regularly, but there's no

56:06

sense of urgency to pay anything off.

56:08

For the first time in my life, I

56:10

feel like I can't save any money

56:12

because I'm trying to keep her and our

56:14

household afloat. I don't know if there's

56:17

a situation. I don't know if

56:19

there's a solution, but there's a

56:21

resentment building in me and I don't

56:23

know what to do. Hmm.

56:26

Well, this goes back to what we were

56:28

talking about in an earlier segment last

56:30

hour of playing house and just trying to

56:32

do life together. It's

56:34

not working. Yep. It's not

56:36

working because Uh, I mean,

56:38

I don't know if there's a solution.

56:40

Well, you guys are living together and you

56:42

have a baby. Maybe you get married

56:44

and go to about seven marriage seminars. Or

56:47

a lot of therapy and or

56:49

yeah and start working together as

56:52

a team. And all of a

56:54

sudden stuff starts moving and happening.

56:56

But this whole idea of just

56:58

trying to play. Like

57:00

we are married and we're doing life together, but

57:02

we're not really and because of that she

57:04

has these over here I have this of you

57:06

can't build a life together You just make

57:08

a human together, but you

57:10

can't seem to pay your

57:13

bills together Well once I

57:15

mean seriously, it's that means

57:17

this is what hey she

57:19

has a house you don't

57:21

That's a good point. Yeah,

57:23

you know, so I mean

57:27

So what would I do if I were in

57:29

your shoes? I'll stop all the sarcasm It's hard

57:31

for me, but I will stop it for a

57:33

moment. It's a spiritual gift, but I'll stop it

57:35

for a moment Okay, what would I actually do

57:37

if I sat down with you and was not

57:39

just poking fun at you? I

57:41

would say Young man the best thing

57:43

you can do for this young

57:45

lady for you and for this baby

57:48

For your future the highest probability

57:50

of you being able to have a

57:52

quality life and bill wealth is

57:54

for you to get married As

57:56

a part of getting married

57:58

sit down with a good marriage

58:00

counselor and act like you're

58:02

doing pre -marriage counseling It's too

58:04

late, but you need to do

58:06

pre -marriage counseling and start learning

58:08

to work together I would

58:10

put you into our class Financial

58:12

Peace University where you both

58:14

have a point of discussion about

58:16

debt about budgeting about living

58:18

on a plan for our future

58:20

but You're hovering around the

58:22

fringes of this throwing grenades back at

58:24

her and she's been doing the best

58:26

she knows how to do While you

58:28

stand on the outside looking in and

58:31

it's time for you to step up.

58:33

You made a baby So step up

58:35

Take care of business be a man

58:37

and the two of you sit down

58:39

together Get married and start planning a

58:41

future together and then you have footing

58:43

to have a discussion about honey. I

58:45

need to be It's

58:48

very important for the future of our

58:50

child and the future of our marriage

58:52

that we are on the same page

58:54

on getting out of debt, on the

58:56

same page on spending, on the same

58:58

page on saving money and investing for

59:00

the future of this child, on the

59:02

same page with money in general. And

59:04

we've got to spend some time and

59:06

effort on that. It's time for us

59:08

both to do adulting stuff. And I've

59:10

let you down to this point, but

59:12

I'm not going to anymore. And

59:15

I would be very proactive in that

59:17

discussion and in that part of your

59:19

relationship and then and only then do

59:21

you have the footing? Relationally

59:23

legally everything else to

59:25

bring her to the table

59:28

and have a discuss a

59:30

serious adult discussion about let's

59:32

let's be both be grown

59:34

-ups and let's get this

59:36

mess cleaned up so but

59:38

Yeah, that that's what I would do

59:40

Now, I don't know if you're going to do any of that.

59:42

I kind of doubt it actually. And so I

59:44

think this is going to be if you don't,

59:46

I'll go ahead and tell you what's going to happen.

59:49

You're both going to struggle and this kid is in

59:51

a world of hurt because its parents are nuts. That's

59:54

that's what's really going to happen

59:56

if you don't fix this. So it's

59:58

going to be a long, hard

1:00:01

life. And so but you can turn

1:00:03

it around. Lots of people

1:00:05

turn it around. They just make a decision

1:00:07

today. I'm going to change. And you

1:00:09

think that's the beautiful thing about human behavior.

1:00:11

You can just look at it and

1:00:13

decide that stuff. That's simple. Dave

1:00:16

is in Phoenix. Hey, Dave, how are

1:00:18

you? Doing well. Thanks.

1:00:20

How about yourself? Better than I deserve. How

1:00:22

can I help? Yeah,

1:00:24

so my wife and I

1:00:26

were hoping to gain perspective around

1:00:29

our financial situation and whether

1:00:31

it's reasonable for us to start

1:00:33

thinking about scaling back from

1:00:35

you know, a traditional nine to

1:00:37

five situation. How

1:00:39

old are you? 39.

1:00:42

You're both late 30s. Okay. And

1:00:44

what's your net worth? That's

1:00:48

around 2 .8 million. Way

1:00:50

to go. Great

1:00:53

job. What is it you want to do with your life? Well,

1:00:57

you know, maybe I hope you're not gonna tell

1:00:59

us sit on your butt. Yeah,

1:01:02

you know, do nothing. Yeah,

1:01:08

we've been, you know, we've put off

1:01:10

traveling. We've been together for about eight years

1:01:12

and, you know, that's something that we've

1:01:14

wanted to do. And so I know that

1:01:16

you can travel and still work and

1:01:18

stuff. And we would still want to work

1:01:20

and earn an income. What do 'all do

1:01:22

for a living now? Yeah,

1:01:25

so she does hair, you know,

1:01:27

kind of like hair and makeup stuff.

1:01:29

And then I do online stuff,

1:01:31

like e -commerce stuff. So you

1:01:33

don't have a nine to five? Yeah,

1:01:37

that's it. That's the nine five.

1:01:39

It's nine five You do e -commerce

1:01:41

in your living room Is it is

1:01:43

it flexible or you have to

1:01:45

like be on the clock at nine

1:01:47

with your with your job you

1:01:49

work for somebody else I Do yeah,

1:01:51

I will offer for a company

1:01:53

some employees and is she on her

1:01:55

own does she freelance or is

1:01:57

she working like for an agency? So

1:02:01

she does a chair rental,

1:02:03

but Okay, I mean she's

1:02:05

still regular regular clients that she

1:02:07

serves. Yeah. Okay. Yeah. All right. So

1:02:09

where's the 2 .8 million come from?

1:02:12

Just like 20 years of

1:02:15

being frugal and working

1:02:17

hard 39 39 39. Yeah,

1:02:19

basically 40. Okay. Yeah

1:02:21

And then there was some

1:02:23

liquidation of some stocks

1:02:25

and that sort of stuff

1:02:27

is your house broken

1:02:29

up between Oh, sorry?

1:02:32

Is the 2 .8 include your

1:02:34

home? No,

1:02:36

so we actually rent, uh, funny

1:02:38

enough, but the 2 .8 is broken

1:02:40

down between... There's about 1 .8 in

1:02:42

cash that sits in, like, CDs and

1:02:44

high -adjusting accounts. Why? And there's about

1:02:46

a million in, uh... What do

1:02:48

you have 1 .8 in high -yield savings?

1:02:53

I don't know. I don't either. Maybe go

1:02:55

buy a house, Dave. Yeah,

1:02:57

no, I'm serious. I mean... say

1:03:00

you made 3 % on that and you could have made

1:03:02

12. 9 %

1:03:04

of million is 90 ,000 bucks a year

1:03:06

you're losing. So

1:03:09

yeah, you need to get that invested.

1:03:11

That's a sidebar though. So you need

1:03:13

to get with a smart investor pro

1:03:15

and sit down and start laying out

1:03:17

an investment game plan. But yes, you

1:03:19

could start doing freelance with your skills

1:03:22

from the road, from your laptop. And

1:03:24

you guys can travel and your wife

1:03:26

could go to two weeks a month

1:03:28

and you guys could travel and your

1:03:30

income wouldn't drop that much. What I

1:03:32

don't want you to do is do

1:03:35

nothing because it's not good for the

1:03:37

soul. Yeah,

1:03:39

your soul, your soul is

1:03:41

better when you are serving. You're

1:03:44

happier when you find some way

1:03:46

to add value to someone else's

1:03:48

life. And just going

1:03:50

around the world and collecting margaritas

1:03:52

doesn't do that. might

1:03:54

for a year. Yeah, it does not. It

1:03:56

does not do that. It does.

1:03:58

Somewhere around the somewhere around the 11th day

1:04:01

starts to go away. I'll tell Cabo

1:04:03

Dave that I'm just telling you, Cabo Dave,

1:04:05

Cabo, I'm speaking from experience somewhere around

1:04:07

the 11th day, but I'm still I'm still

1:04:09

plugged in when I'm in Cabo. You

1:04:11

are. You are. Anyway, this idea that we

1:04:13

completely retire and kick back at thirty

1:04:16

nine years old and and have no gainful

1:04:18

anything is not a good plan. But

1:04:20

you guys can shift what you've been doing.

1:04:22

You can change how you're doing. Yeah,

1:04:24

for sure. And I would. I definitely would.

1:04:26

I would get a house, Dave. And

1:04:28

get a house and get that money invested.

1:04:31

Yeah. Great job, though. Well done to both

1:04:33

you and your wife. Yeah, it's incredible. Great

1:04:36

job. Incredible. Young millionaire.

1:04:40

Wow. It's amazing. There's

1:04:57

a time in your life and at the

1:04:59

baby steps for renting. But

1:05:01

you don't want to do it

1:05:04

forever because when you rent,

1:05:06

you're still paying for a mortgage,

1:05:08

just somebody else's. Plus rent

1:05:10

means instability in your budget because

1:05:12

it always goes up, never

1:05:14

down. So when you're ready to

1:05:16

buy, make sure you work with

1:05:18

a mortgage partner you can rely on.

1:05:20

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1:05:22

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1:05:24

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1:05:27

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1:05:29

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1:05:31

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1:05:33

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1:05:35

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1:05:37

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1:05:45

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1:05:49

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1:05:51

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1:05:55

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1:07:51

Go to everydollar.com slash webinar. Jennifer

1:07:53

is in Seattle. Hi, Jennifer. Welcome

1:07:55

to the Ramsey show. Hi,

1:07:57

thank you. What's up? So

1:08:02

my husband and I moved back

1:08:04

to my hometown about a year a

1:08:06

half ago. With our

1:08:08

four kids, we purchased a

1:08:10

pizzeria that was failing. We

1:08:12

basically purchased assets because no

1:08:14

processes, employees, we had to

1:08:16

change everything. And my

1:08:19

question is, do we

1:08:21

continue or do we close?

1:08:23

We are currently, we

1:08:26

have cut all costs, cost of

1:08:28

goods are down. all of that. Why

1:08:30

was it failing and why is

1:08:32

it failing? Great

1:08:34

question. It was

1:08:36

failing because the previous

1:08:38

owner was using expired

1:08:40

products. The culture of the

1:08:42

employees was toxic. So

1:08:44

we were able to turn all that,

1:08:47

we turned the culture, and we're slowly going

1:08:49

upward. But we made mistakes in the

1:08:51

beginning that are basically have us by the

1:08:53

throat. My husband and I are not

1:08:55

taking a wage. So we basically went off

1:08:57

tips. We almost lost our house last

1:08:59

year. We can't pay

1:09:01

our taxes, but I don't know what

1:09:03

to do. We don't feel like

1:09:05

this is forever. I'm ready to move

1:09:07

on, to be honest, but I

1:09:09

don't know what the wise decision would

1:09:11

be. And the one person that

1:09:13

I wanted wisdom from was you in

1:09:15

this arena. It's

1:09:21

been rough. Scary. You

1:09:24

work your... fingers to the bone,

1:09:26

then you got bony fingers. Yeah,

1:09:31

it's no fun. Okay,

1:09:34

so here's what you

1:09:36

need to do. You

1:09:38

need to have, you

1:09:40

guys need to have

1:09:42

a logical reason to

1:09:45

chart an increase in

1:09:47

profits forecasted over the

1:09:49

coming 12 months. Okay,

1:09:52

so like for instance, Uh,

1:09:54

what were your profits three

1:09:56

months ago for the month profits?

1:10:00

We haven't been to be honest.

1:10:02

We've been just slowly going backwards.

1:10:04

So you're not, you're not, you're

1:10:07

not moving up. We're

1:10:09

no, no, no, we're not in the

1:10:11

profit arena. I think my guess, my,

1:10:13

my statement about moving forward is, you

1:10:15

know, you're losing less and less. I

1:10:17

guess we are not, we are month

1:10:20

to month. Yeah. So you're not profitable.

1:10:23

We're not no and we took

1:10:25

advice from a business owner. We

1:10:27

trusted we've never been in business

1:10:29

We were debt -free when we moved

1:10:31

here and we didn't know you

1:10:33

know what you don't know. You

1:10:35

don't know so much debt We

1:10:37

have a lot personal credit cards.

1:10:39

We have 37 ,000 We were

1:10:41

slapped with an $8 ,000 penalty from

1:10:43

LNI from an employee that we

1:10:46

inherited We didn't know We had

1:10:48

to fire our accountant. So, you

1:10:50

know that gets all put on

1:10:52

me And we owe like 15

1:10:54

,000 to the DLR. And

1:10:56

then we purchased the business by an

1:10:58

owner contract. So we owe him about 115

1:11:00

,000. 115 or

1:11:02

50? Sorry,

1:11:04

115. 115 ,000. So

1:11:06

you didn't have any

1:11:08

cash when you

1:11:10

started? We

1:11:13

had a little bit from the sale

1:11:15

of our house and where we came

1:11:17

from. And we put everything here. What

1:11:19

did you use to do for a

1:11:21

living before you moved there? We

1:11:24

were pastors. We

1:11:27

did fine. We

1:11:29

took your glass. We taught it.

1:11:31

It was great. And we've actually

1:11:33

encountered three personal traumas within like

1:11:35

a six month period after everything started

1:11:37

to fall apart. So our mind

1:11:39

space is not in a good

1:11:41

spot. There's

1:11:53

there's two things that

1:11:55

determine When you walk away

1:11:57

Number one thing you

1:11:59

determine is when you're out

1:12:01

of gas And I

1:12:03

don't know where your husband

1:12:05

is but you're out

1:12:07

of gas Yeah, you in

1:12:09

game fight left your

1:12:11

fight all left I didn't

1:12:13

say about I didn't

1:12:15

say you're not strong. I

1:12:17

said you're out of

1:12:19

gas There's a different thing. You can have

1:12:21

a car that is very powerful, but when it's out

1:12:23

of gas, it sits. It

1:12:25

doesn't matter how strong. It doesn't matter

1:12:27

how many horsepower the engine generates. It's out

1:12:29

of gas. So,

1:12:31

um, yeah, the second thing

1:12:33

is Henry Cloud wrote a

1:12:36

wonderful book called Necessary

1:12:38

Endings. There is a

1:12:40

good friend and one of the best writers,

1:12:42

I think, on the planet on these

1:12:44

kinds of things. And he says in anything,

1:12:46

whether it's a job, a business, a

1:12:48

relationship, whatever, you

1:12:50

have a necessary ending

1:12:52

when you lose hope logically

1:12:54

that the future is

1:12:56

getting better. A

1:12:59

crazy example, in other words, that has nothing

1:13:01

to do with your story would be like

1:13:03

if you're married to an alcoholic and they

1:13:05

promise they're going to get better, they promise

1:13:07

they're going to go to rehab, they crash,

1:13:09

they go to rehab, they crash, they go

1:13:11

to rehab and you finally go, I don't

1:13:13

think this is going to get better, this

1:13:15

has to end and you end the relationship

1:13:17

with the alcoholic. Okay,

1:13:19

that's an example in business. It

1:13:22

would be I can't see

1:13:24

logically a Business way out. I

1:13:26

don't see how this is

1:13:28

going to turn a profit before

1:13:30

we all starve to death

1:13:32

over here Yeah, and and I

1:13:35

don't hear the profits coming.

1:13:37

I mean if you tell me

1:13:39

there's some kind of a a

1:13:42

chart with the profits, and it was hockey

1:13:44

stick up and to the right, and we

1:13:46

were just at the bottom of the hockey

1:13:48

stick, but we're heading up. That's a plausible,

1:13:50

hopeful thing that we could reach and get

1:13:52

a hold of. But so far, I haven't

1:13:55

heard that you guys even know how to

1:13:57

make a profit with a pizzeria. So

1:13:59

what are, can you sell

1:14:01

the assets like they were

1:14:03

sold to you? I

1:14:06

think so, yeah. We for sure have

1:14:08

a contract. We thought about

1:14:10

that. We actually reached out to

1:14:12

a real estate agent. Yeah. Yeah.

1:14:15

If they would just take over your

1:14:17

contract with the, if they would just

1:14:19

take over your contract with the former

1:14:21

owner, that would be a win. Okay.

1:14:24

And then you go clean up the credit

1:14:26

card debt, you go clean up the 8K, the

1:14:28

15K, you can do that when you get

1:14:30

jobs again. Yeah. Right. But

1:14:32

that 115, if someone else can take

1:14:35

that over is what you're saying. Yeah,

1:14:37

the contract of the business. Yeah, if

1:14:39

the former owner that you owe money,

1:14:41

the 115 to, would agree to let

1:14:43

someone else take over and release you

1:14:45

from liability on that contract. And that's

1:14:48

all you get for the business. I'm

1:14:50

going to call that a win. Me

1:14:53

too. Okay. Yeah. Well, we haven't a

1:14:55

party yet. Yeah. And then you go have

1:14:57

to fight through the rest of the

1:14:59

debt. How hard is that to sell? It's

1:15:01

not that hard at all. I don't

1:15:03

know what assets are here, but you got

1:15:05

a pizza oven, you got Restaurant goods

1:15:07

you've got a some what of leasehold improvements.

1:15:09

I assume you're leasing the building Correct.

1:15:12

Yeah, we're in a big grocery store on

1:15:14

a popular highway to the beach, but

1:15:16

you don't own a real estate No, no,

1:15:18

okay, but you've got this location and

1:15:20

the lease would be assignable as a part

1:15:22

of this too and you could get

1:15:24

out of that Yeah, so if you can

1:15:26

assign the debt to the former owner

1:15:28

and assign the lease and call that a

1:15:30

day I'm probably taking it because I

1:15:33

think you're out of gas and I don't think you see

1:15:35

your way to sunshine. I

1:15:37

don't know. I

1:15:39

don't. I don't hear it. Would your

1:15:41

husband agree, Jennifer? Does he feel

1:15:43

this too? Yeah. Yeah. Yeah.

1:15:45

And we're loyal. We don't quit.

1:15:47

We just keep going. But listen,

1:15:49

when winners quit all the time,

1:15:52

we quit doing stuff that's stupid.

1:15:54

Yeah. And

1:15:56

beating your head against the wall. You know, you

1:15:58

quit doing stupid stuff. I quit doing stupid stuff all

1:16:00

the time. I quit all the time. It's

1:16:02

called experimenting. I found

1:16:05

something that didn't work. The hypothesis didn't

1:16:07

play. And your hypothesis in this

1:16:09

didn't play. You guys go get

1:16:11

some jobs and get your emotional sanity

1:16:13

back. Your spiritual sanity back. And you

1:16:15

can actually relax and lay your head

1:16:17

on a pillow again. You've

1:16:20

been through hell. I can hear it. I'm

1:16:22

letting this thing go. If you can get it sold,

1:16:24

I'm gonna work real hard to get it sold in

1:16:26

the next 90 days and get my life back and

1:16:28

then go back into the pasture or go back into

1:16:30

something else. What

1:16:44

if one night could change your

1:16:46

future? You don't have to stay trapped

1:16:48

in the same old patterns that

1:16:51

have left you stuck in your money,

1:16:53

relationships and your life. You can

1:16:55

break the cycles that have kept you

1:16:57

from moving forward. Dr. John Deloni

1:16:59

and I will show you how live

1:17:01

the Money in Relationships Tour is

1:17:03

starting this week. Join us in Louisville,

1:17:06

Durham, Atlanta, Phoenix, Fort Worth, or

1:17:08

Kansas City. It's down to the wire,

1:17:10

so grab your tickets at RamseySolutions.com

1:17:12

slash tour. That's RamseySolutions.com slash tour. Christa's

1:17:30

in Asheville, North Carolina. Hi,

1:17:32

Christa. Welcome to the Ramsey Show.

1:17:35

Oh my gosh. Hi. Hi.

1:17:37

What's up? So

1:17:39

I was calling because I have

1:17:41

some questions about how to combine

1:17:44

my finances with my fiance. We're

1:17:46

getting married in 12 days. Yay! Yay!

1:17:50

I know you guys really preach, you

1:17:52

know, combining your assets and finances,

1:17:54

and I really want to do that.

1:17:56

Unfortunately, My fiance

1:17:58

is really just kind of

1:18:00

crushed by student debt. And

1:18:02

he recently had a loan go

1:18:04

to collections last week. And

1:18:07

so that kind of turned our world upside

1:18:09

down. And now I'm not sure how

1:18:11

to move forward with combining our assets. How

1:18:13

much student loan debt does he have? Oh,

1:18:16

he has around 80 ,000. And

1:18:18

what does he make? He

1:18:21

makes $22 an

1:18:23

hour. Why? So

1:18:26

he's a physical therapist assistant

1:18:28

and he went to a private

1:18:30

university outside out of state

1:18:32

So he really just collected quite

1:18:34

a bit during that time

1:18:36

and the loan that went to

1:18:38

collections was you can make

1:18:40

$25 an hour at Target Yes,

1:18:42

we are he actually just

1:18:44

in an application yesterday. He's moving

1:18:46

on to a different job

1:18:49

and has this is degree in

1:18:51

physical therapy Yes So

1:18:55

did he get his

1:18:58

PT? He

1:19:00

has his PTA. Oh,

1:19:02

for assistance only. Yeah. And

1:19:04

PT assistants don't make $22 or he just

1:19:06

has the world's worst job. I don't

1:19:08

know what they make. A PT generally makes

1:19:10

$70 or $80 ,000. No,

1:19:12

he makes an average of about, after

1:19:14

taxes, he makes about $42 ,000 a

1:19:17

year. But I mean

1:19:19

that's the market for a PT

1:19:21

assistant with a PT assistant certification. Well,

1:19:24

that sucks. Yeah.

1:19:27

I wouldn't pay money to get that

1:19:29

degree. I know. And

1:19:31

I mean, we've moved on from that.

1:19:33

He's looking at new jobs with great

1:19:35

prospects. We're excited about that. That's good.

1:19:37

What are those going to pay? Do

1:19:39

you know more than 42? Yeah.

1:19:42

So the first year he'll

1:19:44

be making around $26 an

1:19:46

hour. But after the first

1:19:48

year, he'll bump up to

1:19:50

about $39. OK.

1:19:52

Working for an era.

1:19:55

Okay. I'm self -employed. So

1:19:57

I make my monthly amount

1:19:59

kind of ranges every

1:20:01

month, but I average about

1:20:03

four to five thousand

1:20:05

a month profit taxable income

1:20:08

After everything it really

1:20:10

kind of drops down to

1:20:12

about 38 a month.

1:20:14

You're not making any money

1:20:16

either How long do

1:20:18

you have this business I,

1:20:22

this is my second year in

1:20:24

business. Okay. Is it growing? Yes.

1:20:28

Good. It needs to.

1:20:30

Okay. Good. Good. Cause I mean,

1:20:32

if you're to run your own business, it's hard

1:20:34

work. As you've noticed, you want to make more than

1:20:37

minimum freaking wage. Absolutely.

1:20:39

Yeah. Okay. Good. Cause I mean, you're, you're,

1:20:41

you're pouring on the Coles girl to do

1:20:43

what you're doing. I can tell. All right.

1:20:45

So, uh, all right. So you're going

1:20:47

to have a household income of approaching a hundred

1:20:49

thousand. Why can we not pay off $80 ,000 in

1:20:51

debt? 100

1:20:54

,000, where are you getting that? He's

1:20:56

going to $39 an hour. In a year,

1:20:58

yeah. And she's making 40. Yeah. That's

1:21:02

where I got that. Well, in a year,

1:21:04

though. Okay, but I mean, why

1:21:06

can't you not pay off 80, you can, first you

1:21:08

could not be in collections and get current on the

1:21:10

payments, and then you could just pay the stinking

1:21:12

thing off in the next year and a half, two

1:21:14

years. So that's kind

1:21:16

of when I'm asking Advice wise I

1:21:18

really want to set up our

1:21:20

first year of marriage for success. You

1:21:22

know, I really want to tackle

1:21:24

this debt. Yeah, unfortunately, I have for

1:21:26

this to make sense I kind

1:21:28

of have to give you a really

1:21:30

quick backstory about our past year

1:21:32

and why we're in this situation I

1:21:34

live in Swannanoa, North Carolina, and

1:21:36

I I live in one of the

1:21:38

neighborhoods that was completely wiped out

1:21:40

in the flood Our home is still

1:21:42

standing but It needs some repairs. And

1:21:45

shortly after that, about three months later,

1:21:47

we had both of our cars, converters

1:21:49

stolen out of them, rendering us with

1:21:51

no cars to get to and from

1:21:53

work. So I had take out two

1:21:55

cars. Why did you not put converters

1:21:57

on? Just why didn't you get a

1:21:59

converter and put it in? It's

1:22:03

illegal for a California emissions Prius

1:22:05

to have an aftermarket pardon. So

1:22:07

insurance drove them off as total

1:22:09

losses, gave us $800 and said

1:22:11

sorry. And

1:22:13

obviously $800 is not enough money

1:22:15

to buy a car. If

1:22:17

they write it off as a total loss,

1:22:19

they have to give you the entire value

1:22:21

of the car. Right,

1:22:23

which they deemed it $800. I

1:22:26

don't care what they deem it to be.

1:22:28

It wasn't $800 before the converter got stolen.

1:22:31

I agree. You have to go back and fight

1:22:33

your insurance claim. You got screwed. I

1:22:36

know. So you own the house

1:22:38

that got gutted? Yes,

1:22:40

and our house is not

1:22:42

gutted. It's still standing and it's

1:22:45

completely paid off. So we're living

1:22:47

in it. We just Yes, okay

1:22:49

But it still has damage

1:22:51

from the floods It does have

1:22:53

some damage It needs about it

1:22:55

needs a new roof on our

1:22:57

our property it has our

1:22:59

house and it has my trailer

1:23:01

in the backyard, which is where

1:23:03

I hold all my inventory for

1:23:06

my business and it needs a

1:23:08

new roof because things are leaking

1:23:10

all over my merchandise. Okay.

1:23:13

Which is going to cost around

1:23:16

8 ,000. Okay. So honestly, I'm

1:23:18

trying to figure out what do I tackle

1:23:20

first? Do I pay off the car loans, the

1:23:23

trailer roof, or do

1:23:25

I immediately start tackling? What

1:23:27

is your business online? I

1:23:31

have a storefront and I

1:23:33

have, um, business online,

1:23:35

but one of my stores got completely wiped out

1:23:37

in the flood as well. So

1:23:39

that's where bulk of your

1:23:41

business, where's the bulk of your business coming from, online

1:23:43

or storefront? Storefront! Okay.

1:23:50

Uh, rent

1:23:52

a storage, a mini storage,

1:23:54

even if it's inconvenient, because you

1:23:57

don't have $8 ,000 for roof and

1:23:59

you can't let your inventory get ruined.

1:24:01

So move your junk, move your

1:24:03

junk. Okay. And then start saving money.

1:24:05

And then what you've got to

1:24:07

do is you have to prioritize the,

1:24:09

you have to prioritize these issues.

1:24:12

Okay. We have a roof. We

1:24:14

have car issues. We

1:24:16

have a roof on the

1:24:18

house issue and we

1:24:20

have $80 ,000. Okay.

1:24:23

Yeah. This has nothing to do with why you

1:24:25

called by the way, you still are going

1:24:27

to combine your finances because you've combined your life.

1:24:30

And you've got as much mess as he's

1:24:32

got. When

1:24:35

your roof is leaking all over

1:24:37

your inventory, that's probably worse than

1:24:39

being behind on your student loans.

1:24:42

So, you know, you guys are sitting, you

1:24:44

both are walking into crisis upon crisis. So you

1:24:46

just got to prioritize, how do you eat an

1:24:49

elephant a bite at a time? So let's force

1:24:51

rank what we're doing with these things. Let's work

1:24:53

our butts off and every dollar we can squeeze

1:24:55

goes to force rank number one. Every

1:24:57

dollar we squeeze goes to force rank number

1:24:59

two after that and So I'll help

1:25:01

you get current on the student loans one

1:25:03

move the stuff to mini storage Then

1:25:05

number two build the roof and bring the

1:25:07

stuff back out of mini storage number

1:25:09

three upgrade your cars and get moving again

1:25:11

on those Just do something like that

1:25:13

and you lay it down and you guys

1:25:15

have got enough money combined if you

1:25:17

both get in gear and both work 27

1:25:19

hours a day I mean you're just

1:25:21

going to be working like maniacs to clean

1:25:23

this mess up and How much

1:25:25

you guys own the car as much as is

1:25:27

a actual mess? How much do you guys have

1:25:29

on the cars? I

1:25:31

have a $12 ,000 loan on my

1:25:33

car and he has a $7

1:25:35

,000 loan on his. OK,

1:25:38

those cars were worth more than

1:25:40

$800. I don't understand how you

1:25:42

accepted $800. I would not

1:25:44

have accepted that. If you're going

1:25:46

to total my car, the policy says

1:25:48

you have to pay the whole bill, the

1:25:51

value of the car. And so

1:25:53

you may need to contact an attorney

1:25:55

and go back and fight this insurance

1:25:57

company on this. But what they're doing

1:25:59

is they're trying to dodge anything in

1:26:01

your area on claims because they've gotten

1:26:03

slaughtered on claims in your area. And

1:26:06

so they're screwing people. Is

1:26:09

this state phone? I appealed it

1:26:11

and I reported it to the

1:26:13

state agency. Unfortunately,

1:26:15

my claim was

1:26:17

just kind of denied.

1:26:21

I was given a final offer of $800 again

1:26:23

and they said that was the best do. I

1:26:25

can give you a final offer. I'm gonna sue

1:26:27

your butt, stay firm. Is

1:26:31

that, is that who it is? It's

1:26:33

no, it's a local company based

1:26:35

in Asheville. Okay. Yeah. I'm gonna file

1:26:37

suit on them for 15 or

1:26:39

20 ,000 bucks. I'm going to

1:26:41

give them a hard time. So

1:26:43

you've just got some things like this.

1:26:45

You've got to line out some

1:26:47

stress points and decide, okay, this month

1:26:49

we're going to attack this one.

1:26:51

This month we're going to attack this

1:26:53

one. The other possibility is load

1:26:56

up everything and leave and go somewhere

1:26:58

else and rent a rent a

1:27:00

house and start your lives with careers

1:27:02

and your storefront in a new

1:27:04

location and sell the property and that'll

1:27:06

clean up a bunch of the

1:27:08

debt. That's a possibility too. Hey,

1:27:20

what are you still doing here? You

1:27:23

know the rest of the show is happening

1:27:25

on the Ramsey Network app, right? So you got

1:27:27

to jump over there to continue watching. You

1:27:29

can download it for free. Just go to your

1:27:31

app store, type in Ramsey Network. It's completely

1:27:33

free. And I'll drop a link in the show

1:27:35

notes to make it easy for you. So

1:27:37

if you're watching on the app, you're in luck.

1:27:40

But if you're watching anywhere else, this show

1:27:42

is over for you. So jump onto the app

1:27:44

and let the fun continue. All right. Go

1:27:47

on now. Don't make it weird. Okay,

1:27:50

I got nowhere to go, so you

1:27:52

need to go. Okay, bye

1:27:54

-bye now. All

1:27:56

right, this is getting weird over there, guys.

1:27:58

What do we do?