The Ramsey Show - App - Are Home Prices Starting To Fall? (Hour 1)

Episode Date: August 11, 2022

Dave Ramsey & Rachel Cruze discuss: How to place investments, Why VA loans aren't a good idea, How to know if you're doing too much while paying off debt. Want a plan for your money? Find out where to start: https://bit.ly/3nInETX Listen to all The Ramsey Network podcasts: https://bit.ly/3GxiXm6 Learn more about your ad choices. https://www.megaphone.fm/adchoices Ramsey Solutions Privacy Policy

Live from the headquarters of Ramsey Solutions, it's the Ramsey Show, where that is dumb, cash is king, and the paid-off home mortgage has taken the place of the BMW as the status symbol of choice. We help people build wealth, do work that they love, and create actual amazing relationships. Rachel Cruz, Ramsey personality, number one best-selling author, and my daughter is my co-host today. As we answer your questions about your life and your money, open phones at 888-825-5225. The call is free, and some say the advice is worth exactly what you pay for it. Starting off this hour is going to be Susan in Jacksonville, Florida. Hi, Susan. How are you?

Great. How are you? Better than I deserve. What's up in your world? Well, I just started listening about two months ago, and I've really started to try to make some changes, and my baby steps have been all over the place and my investments are heavily weighted into two spots, which I know is not the way I'm supposed to be doing it. So I'm turning 60 this year and I'm like, holy cow, I'm probably not where I should be. And I need to figure out how to get where I should be.

It's a good question, Susan. So where are the two, you said the two main investments, where are they at? Where's your money at in them? Well, I have a lot of equity in my home because it is getting close to being paid off. Um, yeah, of course, like I said, that's a baby step out of order. Um, I'll tell you more, but, and I have heavily, I have stock in my company. Um, and it's a privately held stock, but owning a good amount of a minimal amount of in my company pays me a good bonus every month. So it's great. My stock has more than doubled in the three years I've owned company stock. What's it worth?

It's worth right now about $519,000. Cool. What's your home worth? It's probably worth $600 or a little better. Look at you, mail-in your 60-year-old. Well done. All right. Yeah.

And what other investments have you got? 401k? I do. How much? It's only got in it now with the way the market is right now. It's around $160. Good with the way the market is right now. It's around 160. Good. Good.

Okay. What else? My total retirement with some old IRAs that I had that have just been sitting for years, my total retirement, including that 160, is about $257,000. I do have a $30,000 emergency fund. What do you make a year? Well, I make a good living. I make a little better than $400,000. Good for you. What do you do?

I'm a dentist. Awesome. Oh, now I get the stock. Okay, cool. Can you cash out of the sum of the company stock? Is it set up where you can get out of it? At some point, they will have, when they have, you know, they only offer that at certain times. So there's none coming up right now, but I think there will come a time maybe in the next year or so that i might be able to

yeah okay so here's the thing um number one she's done a great job i was adding up all your numbers susan i was like there's nothing in here there's nothing in here that just like got a stupid arrow over the top of it i mean you've done a great job you But you've identified the danger zone is if some bizarre thing happened and this one company went broke, you would lose one-third of your net worth. Yes. And that scared you when you kind of looked at it that way and thought, now, that's not the end of the world, but that's why I don't want too much in single stock.

Like I talked to a lady years ago uh i've used this example on the air many times procter and gamble she'd been with them 38 years and she had 750 000 procter and gamble stock only when she got ready to retire it went down to 250 000 in value and so because she had it all in one company she had you know that lack of spread around, that lack of diversification made her vulnerable. And that's the only thing that scares me here. I don't think there's anything to panic about.

But if you could get out of like half of this and still keep your bonuses when the next time comes around, I would. Just because of safety. Yes. And that would be my plan. If I keep $250,000, I do keep that bonus, which pays me like $3,500 a month. Yeah. Well, then do it. Yeah, that's a great return, and it's worth some risk, you know.

But, you know, yeah, I'd get out of that. What do you owe on the house again? I owe probably about $110,000. Okay. So pay that off this year. Yes. I do that off this year. Yes. I do have one other thing. You're going to probably, like, fall off your chair because I told you I'm turning 60.

I still owe $45,000 in student loans. Okay. You would be like a normal dentist. Warning to you young dentists, okay? You're talking to a 60-year-old who's still got her student loan debt. I know. But I was 39's still got her student loan debt. I know. But I was 39 when I got out of dental school. So I was old when I got out.

Okay, so here's the deal. What do you want to enter into when you're 70? I think, if I were you, I would want to enter into zero debt, including my house, and not so much tied up in the dental practice. Right. And that's it. Do you have a plan for retirement susan like a do you have an age you're shooting for yeah you know i right now i want to just cut back to three days a week soon maybe go to two days a week by like 65 okay i i don't know what i would do with myself if i wasn't well because i was going to say but you can do i mean you meant you threw out 70 i don't know why specifically i'm just

saying 10 years from now you know but in five years you could have oh you need to be there sooner than that but you need to you need to get the house paid off and get the student loan paid off as soon as possible i plan to do that because i have a condo that i'm is up for sale right now and it has a lot of equity in it. Okay. Then that'll knock everything out. And then let's get out of it. Let's have a plan to not be in this stock at all when you hit final retirement,

but not be in it as heavy within a couple of years if you can move out of it. Does that make sense? Okay. Yes. That makes absolute sense. And so then you're sitting on, you know, you'll be sitting on a million dollars in mutual funds at that point, and you're going to be sitting on a million dollars or close to a million dollars worth of real estate in four or five years, and you've got this fabulous income.

So, yeah, you've just done a great job, kiddo. Well done. Oh, thank you. I just didn't feel like I'd been doing a very good job at all. Well, all you needed was, I think all you needed was some of the rough edges polished off. Yeah. So the two debt things are sloppy and the heavy weight on the stock is scary. Yes.

That's all. Yeah. Okay. Good job. Thank you. Thanks for calling. Honored to have you as a new listener. It's so funny how much is just perspective.

Because when you're sitting in it and her, she's like, I'm overwhelmed. I have all these things. And I feel like, oh gosh, I still have that. And you look at the big picture when you're out of it to be like, well, no, here's the puzzle pieces. And it's pretty simple. So the perspective of money, that's what's helpful to always have someone else in your life to kind of speak into it.

I mean, I'm intimidated about my teeth and she's intimidated about her money. So that's kind of normal. When's the last time you've been to a Susan, a dentist, Dave? Just the other day. This is the Ramsey Show. We'll be right back. rachel cruz number one best-selling author ramsey personality my daughter is my co-host today at open phones 888-825-5225 every time you hear someone do their debt-free scream on the show, it's because at some point they said, Enough! I'm not living like this anymore. I've had it!

When you get mad like that, that's what they did. Your life will change. Right now, inflation, stupid credit cards, gas prices, it's killing you. Student loans have been around so long you think it's a pet. And you start to believe you're not in control of your money well you are you're wrong you have control of your money there's a lot you can do there's some things some things you can't control but you can control the controllables in any situation and we can show you how you can change your future financial peace university the proven step-by-step plan nearly 10 million people have been through

this course learning how to get out of debt become masters at budgeting building wealth and outrageously generous and you can learn every bit of that and we can show you how to become baby steps millionaires stop letting debt money stress freak out i don't know how to do math whatever your excuse is finally you got to stop and go enough enough i'm tired i work too hard i make too much money to be this broke ramsay solutions.com slash enough and you can start financial peace university right now ramsay solutions.com slash enough we will show you how to fix this all right let's uh look at blinds.com they're our question of the day find out for yourself why they're the number one online retailer of custom window coverings you get free samples free shipping and with the new

promos they run every month you'll save even more use the promo code ramsey to get the best possible deal and today's question comes from Jimmy in Kentucky. My wife and I are on baby step three and would love to buy a home, but we're nowhere near able to put down money on a house. We are concerned that the market will continue to increase before we can get a down payment saved up. Can we use my VA loan to take advantage of the 0% down payment to get into a house sooner and refinance

in three to five years jimmy i'm gonna say no i mean va loans they're just it's just not it's not a great option i mean there's so much with the fees everything that that that is in that uh it makes it a difficult it's a difficult mortgage and between fha va and conventional it's the most expensive unless you are disabled so if you're a fully disabled veteran then they waive a lot of the fees and stuff but it's not it's not a good deal for you and basically what you're doing is you're trying to find a way to game the system you know you want to scam the system and the system isn't broke and it means delayed pleasure and yes house prices are going to continue to go up they're not going to continue to go up like they have been the market has slowed

down substantially we anticipate real estate prices in the year 2022 to go up about seven percent next year 23 which is when you would be buying a house or 24 they're going to go up four to five percent a year that is not going to price up 4% to 5% a year. That is not going to price you out of the market, Jimmy. What will price you out of the market is doing it dumb and moving into something when you're broke and you have no down payment and you're not ready to buy, you're going to get in a problem. You know, you're going to create friction here in your life. It's not going to be fun, and you're going to turn.

We want you to have a house. We don't want the house to have you. Yeah, and that's create friction here in your life. It's not going to be fun. And you're going to turn. We want you to have a house. We don't want the house to have you. Yeah. And that's what ends up happening so much. We talked about it on the show yesterday with George that, you know, your home, it's such an emotional thing, right? It's like where your family is. It's where you sleep at night.

It's where you do your meals. I mean, like it is. It's such an emotional part of your life. And so many people rush into that. So it's an emotional part of your life. And it's the most expensive part of your life it's usually the largest purchase you ever make and so because of that it's like people make not wise decisions when it comes to their money with their houses because they just let their emotions get ahead of them whether it's fear whether it's longing

for something plus there's all these stupid people that are around you telling you all the time to buy something you gotta buy a house you gotta buy a house you gotta buy a house you gotta buy a house you can't be a renter you gotta buy a house oh god oh god oh god you're gonna get priced out okay okay and you know what is your beautician and economist the lady doing your nails is not an economist oh my god you know so stop listening to these broke people with their craziness uh because i've heard that for 30 years yeah for 30 years i've heard i'm going to get priced out of the market and i can tell you real estate's considerably more expensive than when i started this show 30 years ago but but you know and it'll be more expensive 30 years from now

when you're still doing the show so but the uh uh god willing the creek don't rise but you know oh my gosh the uh that that's but there's a lot of outside pressure family members and everybody else oh you haven't bought a house yet well you've been married 26 seconds and you hadn't bought a But there's a lot of outside pressure, family members and everybody else. Oh, you haven't bought a house yet? You've been married 26 seconds and you haven't bought a house? Oh, my God. And there's all this craziness out there. Well, that and then on top of all the emotion of just the recent.

Yeah. Real estate. I mean, all of it, right? So it's, I don't know. There's a lot going on. I mean, 2020 was one of the highest increases in house prices in history. Yeah. Of all time.

Yeah. I mean, in modern history. And 29% it went up. Oh, my. That's unbelievable. Unprecedented, as they say in the COVID language. But, yeah. Oh, my gosh.

Yeah. That's just crazy. And so, it scares the crud out of you. But it's not. It's not. That's not going to be what happens going forward. It's also not going to crash for those of you waiting on the prices to go down well let me but let's talk about this

because i've been there's a there's been so much i feel like even in the recent probably like week or two about the real estate market because there's i read an article this morning the seven cities where it continues to increase substantially right so there was so i read that and then there are places though that they're seeing you're're seeing prices go down. And so the important thing there is to remember that, that still buyers, or I'm sorry, sellers, some of them are still in the mindset of, oh, I can make so much. They're still looking for a sucker coming from another city. So when you're seeing those prices, I just want to know your thoughts on it is it going back to just true home value of what the what the house is really worth versus the inflated prices and so when when do you know what your house is valued at like a true

value after all the craziness of it going up so fast is it that you can can you still run comps like do you know i mean because going up so fast is a reality okay so the definition of market value for real estate yep when i was in appraisal class yep a thousand years ago is still in college is still the definition and every real estate test you ever take to get your real estate license is when a willing buyer meets a willing seller and neither are under duress. Okay. Webster. I'm going to call you Webster. Well, I mean, so here's the deal. So you have a buyer and a seller and neither one of them are freaking out.

Okay. The seller is not motivated by a divorce or a bankruptcy or something else. Okay. Okay. The buyer is not over motivated because the last three houses they put offers in, they didn't get. And so the marketplace is so white hot that the buyer is under duress and so some of these buyers were paying above market value yeah but their purchase does not enter into an appraisal that that property

is not an actual indicator of value okay because the one of the parties was under duress yes you can't use okay a foreclosure on your street does not affect the value of your house because one of the parties was under duress okay so that's not a value that's a price so how people out there that are wanting to buy or something like how do you run comps now because i'm like usually you just run comps you run comps and if one of them sticks up and shows they all are going to stick up right maybe maybe i mean if you if everybody was a white hot buyer in the whole area then the value probably has gone up yeah because the marketplace was in duress right that's right but if you got some one-offs like you know we we

talked about during the thing i live in a neighborhood where like like almost all the houses that sold in it's a nice neighborhood, sold recently were California people moving in with California equity. And the Tennessee people are sitting there going, I got a sucker on the hook here. They're going to way overpay because they can't get a house. There's a shortage. And so they're overpaying substantially over value. And so enough of that happens happens then other people get greedy and

they're like well i didn't really want to sell my house but if i could sell it for that i'd sell it yeah what the heck and yeah and one of the guys i was playing golf with we talked about that during the streaming thing that we're doing he goes i put mine on the market and put an extra 200,000 bucks on it looking for one of those california sucker fish i'm gonna hook me one you know and it didn't sell yeah and he said i haven't been able to hook one so the market has calmed down the market has calmed down and the migration from california or new york or wherever into these other uh markets you know yeah southeastern markets primarily is slowed down yep but we've had a million plus people displaced from just California and New York Yeah Just those two states moved out Into other markets

And that It adversely affects what is a real value Yeah So that's what's hard But real value should be based on A calm, reasonable, wise transaction By both parties Yes

And even that goes up 3-5% a year Yep, yep That's good. Retro Cruise, Ramsey personality, number one bestselling author. My daughter is my co-host today. In the lobby of Ramsey Solutions on the debt-free stage, Ryan and Ashley are with us. Hey guys, how are you? How's it going, Dave? We're hot and sweaty. How are you? Where do you guys live? We're from San Diego, California. Oh yeah, you're not used to this humidity. Not at all. You can cut Tennessee humidity with a knife in August. So welcome. We're glad to have you guys. Thank you. So all the way

to Nashville from the land of California to do a debt-free scream. How much did you pay off? As of this Monday, we paid off $476,730.53. Way to go! Thank you. How long did this take? Four and a half years. All right. And what was your range of income during that time um we started at around 250 and then after a couple salary increases and two recent promotions we're now at 345 000 wow great incomes what do y'all do for a living uh we're both in federal law enforcement oh wow yeah okay excellent amazing thank you for that way up there yeah thank you thank you for federal for doing that that's amazing so. So we're 77 San Diego. Was that the house?

It was the house. It was the house. Yes. Yes. Wow. You're weirdos. We are. Yep.

Way to go, weirdos. Thank you. I love it. Congratulations. Man, you're young, too. How old are you two? So our birthdays are actually tomorrow, but I'm still 40. And I'm 38.

Okay. All right. Excellent, guys. Well done. Very well done. All right. Tell us about this journey. What happened?

How did you get connected to the Ramsey way? Yeah. So about six years ago, my mom bought me the book Retire Inspired. At that point in my career, I thought, you know, I read the first chapter and I just thought, I'm too young for this. It doesn't apply to me. So I put the book in a linen closet for maybe two years before it was donated to the Goodwill. That's how that works. Yes. Fast forward to four and a half years ago, our twin boys were just babies. Ryan and I started thinking about, okay, what's the earliest time we can retire and how can we have the type of retirement that we want so

he started doing some research and came across the same book he ordered retire inspired which connected us to you guys we sold you two of those but yeah so we You sold your mom to one and sold your mother to another. That's the goodwill track. I like that. Yeah. So we both started listening to you and we were hooked. It was hustle and grind after that. We got second jobs. We sold a paid for truck. We sold anything and everything in the house that we didn't need anymore. Recycled cans, rolled our coins.

We would go to the bank sometimes to make seven dollar and fifty cent principal payments and we would go multiple times per week any and every extra dollar we had went toward principal reduction wow yeah way to go yeah y'all are focused you were getting more intense so when you started how long did your math tell you it was going to take? I think next year yeah or December of this year may have been the soonest we ever thought we could do it but just as we kept the momentum going like we would have daily discussions how can we be more intense what else can we do you know just coming up with ideas all the time we would talk every day about it. That sounds more like you turned it into a game. Yeah I mean we're just very type a game of sacrifice yes yeah but we were willing to do that you know just to be done with it so we can

move on and um do all the things we want to do next so i mean to have a paid for house in california specifically san diego i mean like that's unbelievable you guys yeah we like to say the math works in californ well. There you go. I like it. It does. So how much is this house worth? Currently, it's approximately $1.1 million. So that alone, before we get to your retirement, makes you a baby step millionaire. Yes, sir.

And 40 years old. You did it. I love it. I love it. Congratulations, you guys. Thank you. How does it. Yep. I love it. I love it. Congratulations, you guys. Thank you. How does it feel to be completely free? I mean, for me, it hasn't set in yet because it was literally four days ago that we paid

off the house. It was our final payment. We got pictures at Chase Bank and, you know, it hasn't set in yet because we haven't had a paycheck yet since. Yeah. Right. But I think once this first paycheck drops next week, it's going to be, the grass is going to be greener for sure can't wait what were those people chase bank doing you're taking pictures well they they knew us by name because like i said we were there multiple

times per week so we had like our favorite tellers and all that stuff we would go to um the kids would come along every every time we made a principal payment get lollipops all that jazz so so yeah i mean i think you know of course they were encouraging and said congratulations and all that but i don't think it was a surprise well and i think they think here's the weird people exactly that's what i figured you would get oh my gosh because you are weird that's awesome yes it's such a good way. Normal's broken. You're not. No, we aren't.

Wow. Okay, so it did take a ton of sacrifice. And there's a lot of people listening right now that have little kids. I see yours right here in the lobby. And they're like, oh, it's not worth it. We just want to enjoy life. It's our house, right? Like, oh, it's fine.

30 years. It'll happen. So what do you say to encourage people that even with a young family, that the sacrifice, I'm sure I know is difficult. Yeah. I can tell you for me with the little boys, like at least not going out to dinner was easy because when we did try to go out to dinner, it was brutal. Miserable.

It was brutal. I'm not thinking that's going to change. We'd have to shove our food in, you know, in 20 minutes. We couldn't enjoy our $80 dinner or whatever it was. We just flat out stopped going to dinner. And if we did go out to dinner, it would be In-N-Out Burger, you know, something real easy. Yeah, right. Well, and the kids came along this journey with us.

They were out there recycling cans with us. You know, anytime they would pick up extra coins or whatever, they'd be like, this is for debt free. So they were totally on board and they supported us as well. Like they were, you know, part of this process too. So I just think, you know, sacrificing now so you can win for the long term is totally where it's at. And we, you know, the why for us was bigger than, you know, not being able to go out to dinner or whatever for this four and a half years. It was worth doing. Temporary pain, long-term gain.

Live like no one else so later you can live and give like no one else. Wow, very cool. Amazing job, you guys. Thank you. Well done. We're proud of you guys. What do you tell people the key to getting out of debt? We think the key is also the hardest part.

You know, self-discipline, self-control, perseverance, and contentment. Not only did we learn that those were things, you know, needed for financial success, they're also foundational for being just a better person and winning at life. You know, we want to set our kids up to win. There are not going to be any participation trophies in our house. You know, we're going to set them up for success in any way that we can. Well, in law enforcement, you run into people that have none of those things on that list. Correct. Yeah. No self-control, no discipline that list correct yeah no self-control no discipline no perseverance no long-term thinking and all of that results in you being involved in their lives

unfortunately yes yeah oh my goodness wow wow wow so 350 000 income not a payment in the world a million dollar plus house paid for right what's the first big thing y'all want to do oh man um we we really want to try flying somewhere first class i think is what we want to do that's one of the goals yeah we'd like to travel first class take our kids on awesome adventures um but we also want to give big um we have our twin boys who um we had to do IVF to get pregnant with them um so you know that process is um stressful enough so we'd like to take at least the financial stress away from someone else and to pay for someone else to have IVF it's amazing awesome well Awesome. Well, bring the kiddos up. We've got a copy of Baby Steps

Millionaires for you. You are one. And also a one-year membership to Financial Peace University. You can give that away or go through it. Also a copy of Total Money Makeover for you to give away and help someone. So what are the names and ages of the kiddos? So this is our sweet girl, Haley.

She's eight. These are our twin boys, Jameson and Jax, and they are five. I love it. Good looking family. Thank you. You guys are great. We're so proud of you guys, heroes. Well done.

All right, Ryan and Ashley, Haley, Jameson, and Jax, San Diego, paid for $1.2 million house. Everything, $479 paid off. Man, count it down. Let's hear a debt-free scream. Three, two, one. We're debt-free! Haley wins. So sweet.

Way to go, Haley. Oh, my gosh. Yeah! Precious. Life is good. This is The Ramsey personality, number one best-selling author, my co-host today, open phones at 888-825-5225. Holly's in Lexington, Kentucky. Hey, Holly, welcome to the Ramsey Show.

Hi, Tim and Rachel. Thank you for taking my call. Sure. What's up? So my husband and I just got married about a month ago, and we have in total $140,000 in student loan debt. We created this plan that we're really excited about. It is kind of drastic though. And my mom is just really worried that we aren't working too much and we're not spending enough time to really cherish their first year of marriage. So yeah, I don't know. I just, it kind of made us second guess our plan and feel like we'll regret it one day

working too much our first year so so what's the plan Holly what it what are the hours how fast will you pay this off kind of like give me the give me the rundown yeah so I'm a nurse and I just quit my regular nursing job and switched to a local travel nursing job and it quadrupled my pay. So I'm making about 10,000 a month after taxes with that. And then I'm also in nurse school. Um, and so that's, I'm in clinical like two days a week, eight hours a day. And then I'm also teaching so that my school's free. So I'll be working around like 70 hours a week. And my husband's a physical therapist and he brings in about $4,000 a month after taxes.

And our plan is to pay off $10,000 a month. So she's really scared that we aren't. We're taking on too much too soon. I was wondering what you all thought. What do you think, Holly? I feel like we, I feel fine, really. I don't know. I just, and I've talked to some of my friends

and they think we're taking on too much too soon. But like, I feel like with nursing right now, like I want to, like this money may not be around next year. So I really want to take advantage of it now. Yeah. How old are you? 26. 26. Okay.

And I feel like we get this paid off in like a year. It may be like a year and a couple months. And is your husband, is he on board? Would you say you guys together? You said you're both excited about this plan. You both know what it's going to take. And you both feel great about it. Yeah, Holly, I mean, I think you're fine.

I think you're fine. And I think the emotional tie to your mom and her approval is big in your life. And it would be for it, right? For most adult children who have a good relationship with their parents, they want their parents to approve and be happy and proud of what they're doing. So I understand a little bit of the hesitation,

but let me tell you, marriage is more stressful when you're living paycheck to paycheck and deeply in debt. It's less stressful when you sacrifice for a short period of time and the financial part of your marriage is just cleaned up, the debt, and you guys have learned to be on the same page, work together as a team, do the impossible together.

I think it actually strengthens your marriage. If you guys are intentional about the time when you're together, then that's important, obviously. Okay's let's pretend something okay let's say you get five months into this and it is having a negative effect on you yeah quit yeah that's true i could just do that yeah you're not signing up with the military it's a job right nobody said you don't that you have to keep doing it and so if you start melting down in your relationship or in your mental health or you're not taking good care of yourself physically you're not getting enough sleep or something silly like that quit right and do and

do three three twelfths and do your school. That would be half of what you're talking about, roughly. Right. And how many hours is your husband planning to work? He does, like, traditional 40. He's got the ability to pick up with PT, too. Yeah. Yeah, he does.

Because you're not going to be there. He might as well be working in the emergency room. It's good does. Yeah. Because you're not going to be there. He might as well be working in the emergency room. It's good money. Yeah. You guys both have the ability to have great side hustles. Right. Okay. Now, again, if it reaches the point that you guys are feeling the strain,

but this idea that somehow there's, that you're going to have a weaker marriage because you work together towards a goal with great intensity, no, it would be quite the opposite. You to have a weaker marriage because you work together towards a goal with great intensity no it'd be quite the opposite you'll have a stronger marriage yeah that's true it's uh i mean think about families in the military where one of them is deployed four months after they're married there's all kinds of people out there that that prosper relationally in kind of extreme circumstances now again i don't want you i'll be on your mom's team your friend's team and i wouldn't tell you to do something that permanently damages your relationship

okay but um some of our richest times are when we were scratching and clawing hustling grinding pushing through and then we ring the bell together it's kind of fun you know right but yeah we just paid off we just paid off our first loan last week's my last paycheck yeah so it feels really good but at the point at the point you think you're gonna pass out or something you know quit yeah just quit and holly if this was gonna be like a five-year thing i'd be like okay let's like look how to pace ourselves like you know let's but if you're talking 12 months like man the sprint yeah yeah yeah and i think the benefits are are and again i don't think that it has to by definition destroy your first year of marriage that's silly okay yeah um but it and quite the contrary it could set the tone for we can lock arms and

battle anything together because this is what we did this was our first order of business out of the gate as soon as we're married is is attack something together there's a real benefit to that and knitting you together for future mountains that you have to climb. And you will have to climb future mountains. You can count on it. So, you know, that's – but the good news is you can try this, and if it starts having an adverse effect, if your mom's fears come true, then, you know, you just shut her down and go pick up a standard nursing job, 3-72s, right?

Or 72, 312s. 36, I'm sorry. 36 hours. Yeah, so those are everywhere. There's a nursing shortage. So, and, you know, at the end of the day, it sounds like your mom and you have a good relationship and she's voicing this gently.

If she begins to violate a boundary, you've got to just remember, you're now married. She doesn't ultimately have a vote. Only you and your husband have a vote. Right. And your friends don't have a vote. Right. And so.

And Holly, too, you're going to look weird. Yeah, you are weird. That's part of our, I mean, a little bit of this plan. And, you know, we were talking, we just had a debt-free scream of a family with three little kids for four and a half years picked up coins on the side of the road they would find and roll them and take them to the bank. I mean, it's kind of extreme stuff because short period of time and attack it it's going to look weird to the average 26 28 year old who's like no i'm going to keep my student loans around and just i'm going out to eat every night yeah i'm going to vacation doing all you got to enjoy your life holly you're you're just doing too much you know you only live i just i feel that's so much of our generation and so there is a level of sacrifice that the

culture is not comfortable with because it's not normal. So again, if it starts to wear down, yes, I totally echo what Dave said, right? If it starts to damage you personally in your marriage, all of that, yeah, yeah. I mean that stuff is way more important to hold true than

getting out of debt necessarily. So there's a balance there but also you're going people are gonna make fun of you they're gonna look at you like you have a third eye and they're like oh she's a little man holly holly's a little intense so they may say that about you holly it's not always a bad thing normals broke uh be weird you know that's like our tried and true just like well i mean embrace this life there's stuff to be had i mean what are you if you work 40 hours a week and you know you're gonna sit and watch netflix i mean this is i mean really i don't you know i'm not

saying there's anything wrong with working 40 hours a week but it's not like mandatory for happiness that's ridiculous so are mandatory to have good relationships and so on so it's good it's a good discussion the good news is you don't have to choose bad relationships and get out of debt

no you don't have to do that if you start having a bad relationship just cut her back that puts us out of the Ramsey show and the books No, you don't have to do that. If you start having a bad relationship, just cut her back. That puts us out with The Ramsey Show and the books. Hey, it's Rachel Cruz, co-host on The Ramsey Show. If you want to do your debt-free scream live on the show, visit ramseysolutions.com slash debtfreescream.

We'd love for you to come to Nashville and tell Dave your story. That's ramseysolutions.com slash debtfreescream.