The Ramsey Show - App - Broke People Shouldn’t Buy Real Estate! (Hour 3)

Episode Date: October 23, 2023

Live from the headquarters of Ramsey Solutions, it's the Ramsey Show, where we help people build wealth, do work that they love, and create actual amazing relationships. I'm Dave Ramsey, your host, Ken Coleman. Ramsey, personality number one best-selling author of the book Paycheck to Purpose, is my co-host today as we talk about your career, your job, your life, your money. It's all right here. The phone number is 888-825-5225. Anna or Anna is with us in Los Angeles.

Hi, how are you? Hello, how are you? Hello, how are you? I'm doing great. Good. How can we help? So I've been working for some time now, and I thought I did an okay job for building up my personal wealth, but I also like to hear your opinion about how I'm doing thus far. Okay. How are you doing? Tell me about it.

Yeah. So I've been in the real estate business for many years. Personally, I have four rental properties, and the yearly income is about $50,000, given or more or less. The total mortgage balance I have about is a million. And one thing, I don't know what I was thinking, but I did take out a home equity line for the purpose of purchasing other properties. So far, I've been paying it off the highest. It was close to $600,000, but based on my calculation, that's back in 2019,

and I should be able to pay that off, completely off, by next year, middle of next year. And then you'll still have a million dollars owed on the rentals. Correct, yes. Okay, and you make what a year? That's the wild card. So I'm in real estate, so that's... I mean, what did you make last year? It's hard to say.

Last year, it's about $200. Okay, all right. That's probably your average year, right? Yes, yeah. Okay, all right, good's probably your average year, right? Yes. Okay. Yeah. All right. Good for you. And so what's your plan?

Just stay in debt the rest of your life? I mean, what's your plan? Sounds like it, because it sounds like you keep buying rentals with more debt. Yeah, and that's my question. Although I have these rental properties, but I always feel I have this piece of rock inside of me. I feel very heavy. It's a million-dollar rock. It's right there in your stomach.

Yeah. So should I get rid of some of the properties? So to get rid of this feeling, I'm not sure what to do. I would develop a game plan to have them all paid off within a certain period of time. There's nothing panicked here because there's no desperate situation. But what you're experiencing is you finally are measuring risk. And most of us, I grew up in the real estate business, so I understand. When you get in the real estate business, one of the things they i understand when you get in the real estate business one of the things they do is they take a hammer and they break your risk meter

we don't even know how to measure risk once we're in that business because we just buy crap i mean it's just like we go get a getting a mortgage to buy an investment property is like that's the only way to do it in our minds you can't do it you can't do it otherwise we've just people in the real estate business really believe that it's just not true but we believe it to be true so um but what you're you're starting to feel the weight of the risk that you've taken on that no one in your world talks about but you're starting to feel it and that's what how you ended up talking to us so yeah what are these properties worth total you owe a million on them what are they they worth total? Total, I would say about $5 million. Good for you.

Okay. So that's a great equity position. I mean, obviously, you're in a 20% loan-to-value ratio, which is phenomenal. That's not a big risk position, but there is a million dollars worth of problems there. So what I would do is say I'm going to pay off that million with my income and with the sale strategically of one or a couple of these properties over the next five years. Okay. And it might be, you can just sell one of them and be clear and clear the rest of them. And that'd be pretty cool. And then from there, you pay cash for all of your

additions to your portfolio. You don't use home equity loans ever again. You don't borrow again to do that because you've got great cash flow when you have no mortgages, and that's going to be the way to go. Yeah, she's going to be in a really great position out there. Now, I'm curious, Dave, so you wouldn't sell – why not sell one of the houses and knock it out that way? Yeah, that's what I'm saying.

Okay. I'd pick out one of those properties. Okay, gotcha. All right, all right. And or the income. And the income. If it takes you two years to do this instead of a month, that's okay. Okay, gotcha.

There's nothing on fire. Yeah, of course. But you do want to aim at having a debt-free portfolio and aim at and stick with the promise to yourself that any additions to the portfolio we're doing with cash yeah as soon as we get first and foremost get to debt-free then when we add something later we're going to do that with uh you know without borrowing money to do that and folks i understand that the get rich quick real estate world and borrow all you can on real estate out there is out there it's always been out there and i understand it's real hot again that tic tac has made it really a big thing again and you guys get on there and there's all

these goobers on there that have no life history that you know they're 14 years old and they're buying houses now you get these figured It's a bunch of crap. You don't. I mean, when I was 22 years old out of college, I started buying houses nothing down. I bought $4 million worth. I had a $1 million net worth by the time I was 24 years old. I made $250,000 cash taxable income doing flips in 1984. That's $20,000 a month in 1984. You don't put that in today's dollars, that's a half million dollars a year. Okay. Now,

I don't know what neighborhood you grew up in, but the neighborhood I grew up in, we called that rich. It was fun. I was having a blast until I found out about risk. And the banks called our notes, and we spent the next two and a half years of our life losing everything we owned. We were sued. We were foreclosed on. And with a brand-new baby, a toddler, and a marriage hanging on by a thread, because my poor wife thought she had married Sir Galahad, turns out it was Goober. And there we were, bankrupt.

And at 28 years old, I got the opportunity to start completely over, because I followed the exact same crap you people are seeing on Instagram and TikTok. And you're all walking around acting like you're smart. You're not. You're straight up freaking stupid. Quit doing it. I walked it. And don't tell me you no more.

Listen, a man with an experience is not at the mercy of a man with an opinion. This is ridiculous, you guys. I've walked the exact path that some of you are signing up for right now. Now, not her. She's got a different situation. She's moving away from the debt. She's calling about that. But this zero down, nothing down, I'm going to get rich in real estate is absolute bullcrap. Broke people shouldn't buy real estate. It makes them broker. That's why they call them brokers. This is The Ramsey Show. Ken Coleman, Ramsey personality, is my co-host today.

Our Ramsey Show annual listener survey is now live. We want to know your favorite parts of the show, what you like, what you don't like, what you want to hear more about, whatever it is, we want to hear from you. Two ways to participate. You can text SURVEY to 33789, or you can go to ramseysolutions.com slash SURVEY and fill out the survey. Either way, if you sign up, you're going to be entered to win a $500 gift card. Taryn is with us in Pennsylvania. Hi, Taryn. Welcome to the Ramsey Show. Hi. Hi. So I recently got my bachelor, my master's degree. I got it last year. I'm in the field of education and a position had opened up at my current job that's in my area of expertise. So I had applied for it. I interviewed and I found out that they want me for the job. However, they had to clear it with

basically my supervisor's supervisor before I was allowed to transfer. And my supervisor waited about a week before answering and said that I could go, but not for over three months. And so I'm kind of torn because I, you know, I'm thankful that he said, yes, I could transfer. But it's also just seems like an excessive time to keep me. And so I guess my question is, um, I'm in, I teach special ed, so it's kind of hard to find people. Um, so I assume that's it. Um, but you know, I mean, the end of January, that's seems like just a long time to hold someone. Um, and so I guess I'm just wondering, it's not a long time. No. How old are you, Taryn? I'm 27.

Yeah. So I was 27 a long time ago. A long time ago. Yeah, I knew that was coming. But the reason I said that, Taryn, is because this is not a judgment on you. Three months is a really long time for a 27-year-old. But for old guys like us, I'm here to tell you that three months is not a long time and they really are probably in a crunch but instead of assuming that you take care of have to have someone to take care of them if you're leaving that's right they have to line that

up and those people are hard to find is that not true it is true we have a lot of new people coming um but i guess with that, I haven't heard back. Yeah, you were getting to a question. They're kind of debating whether or not they are going to go with me or go with someone else because of the time frame. They're kind of like not in a hurry, but they would like to get someone to fill the position shortly. Okay, so all within the same district though, right? Yeah. Yeah, it's at a cyber school, so it's all within the same company.

Yeah, so they should be able to go. One part of the company is willing to release some of their talent to go to the other part of the company as soon as they're able to do a backfill. So we will wait until the backfill comes in. We do that inside of Ramsey all the time. But if you want to move inside of here, we don't move you until we have your workload covered. But we also don't fill the position out from under you.

We'll say you can go over there as quick as we get somebody hired to take what you're doing. You know what I'm saying? And if you can get that assurance, then you shouldn't have any issue with this. Agreed? Yes. Yes. If I know they're willing to wait, I guess that's one thing. No, I mean, you're hired for the new position as soon as your backfill comes in. If you can get that promise, three months is reasonable.

So what are you wrestling with? If she can't get that promise, should she stay? Yeah, and I guess because we're also, like my husband and I, we're in baby step two. We're hoping to start homeschooling our son. So I'm like, oh, you know, if I don't get this position, because it really is my dream job, if they're not willing to wait, I would like to leave the company because I just don't and I don't know if that's a crazy idea too but if I don't get that job

well it's not about crazy it's about you and your husband talking about if that's a viable option with you being in baby step 2 that's a pretty big hit you're just going to quit and I just wouldn't I wouldn't if it were me I'd say wait a second

I want to try to maneuver this thing I think you've got to sit down with the new opportunity and say, hey, I need to know. I know that my supervisor has cleared this, but with a three-month wait, are you guys willing to do what Dave said and say, all right, we're signing on the bottom line, it's your position, and we'll wait. As quick as we can get a backfill, I'll be over there. Because that's reasonable it is reasonable it's also reasonable for the people moving that you're moving to to

wait and not damage their own company but i wouldn't quit how big of a hit would it be if you go home and and homeschool and you're not making money how much yeah i mean it would be i mean before tax like 65 000 i would not recommend that i would not recommend that they haven't done anything wrong yeah there's not an ethics breakdown here and they're not a horrible people or a horrible company uh they do need to give you some clarity i don't disagree with you on that i'd get i'd like for them to give you the lockdown on the position but i if they won't give you that clarity they still haven't done anything wrong there's sloppy is all and if you want to work somewhere else that's fine um but you might jump from there to a place that's totally toxic you know that could happen real easy yeah because this is not

what you're describing is not unreasonable or toxic in any stretch of the imagination. Now, if they lie to you, cheat you, hold you back artificially with no solid reason, we're just screwing around with you because we just can. That's toxic. But this is saying, hey, we got to fill this position. These little kids need a teacher. And if Taryn steps out, we got a big hole over here. These children are not going to be taken care of that's very reasonable yeah as a matter of fact it's responsible um it's not

saying i'm going to politically hold you back it's saying hey yeah you can go as soon as we get your work covered and then the other play the other side the place you'd be going needs to give you the clarity and say all right right, the position's yours. As soon as they can get the backfill over at the other place, we'll bring you over. But, you know, we understand the time horizon might be as much as three months. We've done that here, Ken, and sometimes it's even been more than three months. That's right. I mean, that's the reality of workflow, and you have to understand that.

You have to be patient. I know it's hard. My goodness, it's hard to be patient at 37, 47, or 57, certainly 27. But we've got to keep our eye on the big picture. And here's the other thing I just want to mention very briefly. Because if we see an opportunity like this, and it looks like it's right there, but then there's a hurdle, there's reality sets in. And if for some reason she doesn't get this we shouldn't hang up hang up the cleats we shouldn't just say we're done we're out we're not going to play anymore uh because i take my toys and go home yeah because it it represents the dream job but it's not the only dream job that's the key the dream job is already a bit of a unicorn for a lot of people. That's why

I've actually stopped using the phrase a lot because I think for some people they think, well, it's the playing in the NFL or something, something that's not realistic. It's not. The dream job feels like a dream because you're spending most of your day using what you do best to do something you really enjoy to produce results that you care deeply about. That is really a dream for most people because the alternative to that is a nightmare if you do it too long. And so don't get hung up on that was the dream job. That can really devastate you and knock a lot of people off that path. And I would really caution all of our audience on this to say, okay, it looks, it smells, it feels like it, but if it's not it,

that's okay. Don't think no, think not yet, not here, and keep moving forward. That's what I'd want her attitude to be if this doesn't work out. Yeah. By the way, dream job is what you said. It's doing things you love with the gifts you have. That's right. To accomplish something and see traction in something you're passionate and care about. That's right.

I've got the dream job. That doesn't mean that last week didn't suck. Right. Because it did. You have some of those days. It actually did. Last week kind of sucked, you know, and it was a long week. And I'm really thankful I don't have last week anymore.

I'm glad it's gone. I'm glad I've got next week instead. But this idea that, you know know like you're not going to run into conflict in your dream job of course you're going to run into conflict in your dream job you're not going to run into uh crappy people while you're doing your dreams oh yes you can be assured that if you run into people you're going to run into some crappy ones just count on it you know i mean you can be you can none of this is going to get easy just because it's your dream job. It's all rainbows and skittles or something.

That's just crap. It doesn't work that way, boys and girls. This is The Ramsey Show. Ken Coleman, Ramsey Personality, is my co-host today in the lobby of Ramsey Solutions on the debt-free stage Andrew and Emily are with us hey guys how are you hey good how are you better than I deserve where do you guys live Weatherford Texas all right welcome to Nashville how much debt have you paid off so we paid off 55, Good for you. And how long did this take? Six months. Six months. And your range of income during that time? We started at $110,000 and finished at $130,000.

Cool. What do y'all do for a living? I'm a financial advisor. And I work as a pediatric nurse. Very good. Good for you. Great careers. How long y'all been married? One year. Okay. So right after marriage, you look up and you got $55,000. What kind of debt? Two cars and student loans. All right. And you start off with a burden here. And you say, all right, we're clearing this and we're clearing it fast. Tell me the story.

What happened? How'd you get turned on to us? So I've known about y'all for a while. And we had been talking about this for kind of what we wanted to do. And I started reading the Total Money Makeover. And it was kind of what we wanted to do and I started reading the total money makeover and was it was kind of firing me up and then we celebrated her birthday on December 14th and I pretty much came home and was like let's pay off the car and after that it was like what else can we pay off what can we switch around in our budget to make it work for us and I think that's

kind of where it all started for us. So you got the financial guy straight. I think I'm just impatient very impatient. Good I like it got it we're gonna actually do this stuff you're reading about yeah good very cool. I gotta know Dave was the new the newlywed groom did you figure out I should probably make her happy with this, or did you push back a little bit, or were you all in? What was going on when she came home with this idea? Well, it's pretty hard to, once she has her mind set to something, it's pretty hard to get her off. And so we had been talking about like, hey, what are we going to do with this? And then she said, hey, I want to pay off my car. And then right after that, I said, hey,

I've got a truck a nice chevy silverado i think i think we probably should sell it and that can knock off a lot and then you sold your truck i sold dream truck in texas in texas oh wow that's not that that's real yes sir sold it to buy a car too yeah and people i bet you had people saying you have lost your mind yes sir very much so wow how much was the truck it was the balance when we sold it was about 27 000 so it was half of this debt yes sir and then um we rolled that into and then the ultimo was what we bought and we we did not pay for it fully we ended up that became a new part and so uh the Altima was what we bought and we did not pay for it fully. We ended up, that became a new part. And so the next thing was her student loans

and then the car was last. And so we took it from Total Money Makeover, tried to get fun, creative. So we created a whiteboard. It had the total amount, how much we had paid. And then every time we paid something off, we would play the song Jump around from house of pain yes yeah and it's one of dave's favorite songs yeah we would just like blast it through the house and

like just just dance why not like just yeah that's great gotta knock out another one i love it dance party yes sir that's fun good job you guys thank you okay so you're married a year and you're debt free how's it feel pretty good pretty good you sold the truck yes sir was it worth it it was worth it 100 you'll get another truck later you'll get another truck right that's what i exactly you're gonna get another one later and another one and another one and another one yes sir it's not like you're only gonna own one truck in your life. I mean, come on. Wow.

That's awesome, guys. Way to go. All right, young married couples out there listening, they're going, how do they do that? Well, they sold the truck as part of it. How do they pay off $55,000 in debt? What do you tell them the secret to getting out of debt is? I would say accountability and just staying to it,

even though you're like, oh, man, I'm losing my truck and may not be able to do all the things that other married couples are going to do, just sticking with it and having your buddy with you. Now you can do anything, right? Yes, sir. Yeah, I'm curious. I mean, you guys are newlyweds. This is exciting.

So what are you dreaming about now that you're debt-free? Like, what's the mindset looking forward to the rest of your life? Well, we're on baby step 3a right now okay and then baby step 3b would be next so we uh the next step is definitely to buy a house okay and so that's where we're looking for short short term and then long term whatever the lord has in store for us we don't really know yeah and how old are you two we're 24 i love it wow you're in such good shape you're gonna be you're gonna be so stinking rich it's unbelievable the math on things when you're 24 guys it's just oh it's awesome yeah i gotta ask you guys this what's your what are you aiming for for that first time home what price range oh at this rate we have a

really tiny um rent home which is perfect but at this i think we can a really tiny rent home, which is perfect. But I think we can make any home a home. Good for you. Meaning you're not going to get locked into something over your skis there. You guys are going to be smart about this. Yes, sir. That's great. Love that.

Wow. That's the big draw for a lot of young couples. They want to get that really nice house like mom and dad had growing up. They're like, no, no, no. You know, I was listening to a guy the other day and he said the secret to building wealth is marrying well i mean you could marry a princess who demands an instagram house yes or you can marry emily who says i can make a home anywhere yeah i thought the same thing dave that's that's that's a freaking home run that's awesome by the way andrew i mean i'm sure a lot of people have told you you clearly outmarried yourself and that's a good thing that's a

compliment yes sir we're glad she has poor judgment and and so that's you have done well sir no question about that's what i say about my wife that's that's not personal yes sir it's very true well done very well done i'm proud of y'all yes thank you and who was cheering you on out there well we had a lot of people supporting us um it was kind of it was a good amount of people Well done. Very well done. I'm proud of y'all. Yes. Thank you. And who was cheering you on out there? Well, we had a lot of people supporting us. It was a good amount of people. I mean, family, friends. It was always interesting when we would tell people what we were doing.

Just the reactions were varied. Most people knew about y'all. Some people didn't. But they were like, wow, good for y'all. So it was just a good community of supporters yeah they walk away shaking their head he sold his truck he sold his truck there was a lot of that he sold his truck oh my god as if you're never gonna get another truck i mean you're gonna be so rich you can have five trucks i mean who cares you know unbelievable not really emily he won't do that

actually they'll be wealthy enough they can hit five trucks it won't matter i mean you want me the math is like oh no i just 40 50 million bucks i mean it's just like crazy that's true yeah way to go y'all way to go we're proud of you i can tell you that yes and we know that the sacrifice you made is temporary although painful and you got there and now you get to go anywhere you want to go talk about buying a a house. Talk about the next steps. Very, very cool stuff. We've got the Live and Give box for you. It's got the Baby Steps Millionaires book in it. For sure, you'll be in one of those.

And the Total Money Makeover book to give away to one of your friends. This is how I did this. I just did this right here. And the Financial Peace University membership as well. Enjoy them. Give them whatever you need to do. That's what they're there. They're our gift to you guys to say congratulations and thanks for coming to Nashville to do your debt-free scream

all the way from Fort Worth, Texas. Andrew and Emily, wow! $55,000 paid off in six months, making $110,000 to $130,000. Count it down. Let's hear a debt-free scream right quick go rangers three two one we're debt-free yeah wow hey that's a power couple right there yep 24 power couple looking for a place to happen isn't that true it's extraordinary to see young couples committing early on first six months of their marriage they're like okay we're getting after it most powerful wealth building tool that

allows you to get out of debt and build wealth and be unreasonably generous is contentment contentment allows you to sell your truck when everyone thinks you're crazy. Contentment says I can make a home in anything. These are the verbs, the words that people use when they're functioning in contentment. Godliness with contentment is great gain. And that's definitely what they're walking in. And that's a decision.

It's a decision of where I place my values. Am I defined by where I live, what I drive? If I'm not, then suddenly I'm what's called content. I can get nice things and I can not get nice things, but either one's fine. And it works out either way. And that's the beauty of where they are. And the irony is it's the key that's going to make them extremely wealthy and put them in a position to be outrageously generous and help people everywhere around them.

They're an amazing couple. Just amazing. And congrats, parents. I'm sure they're watching and listening, both sides. Way to go. Mom and dad. Both of you. Y'all crushed it.

This is a great, great couple. Yeah, just slam dunk. This is The ramsey show our scripture of the day psalms 128 2 you will eat the fruit of your labor blessings and prosperity will be yours claude mcdonald said if hard work is the key to success most people would rather pick the lock and that's the truth katie is with us in concord new hampshire hi katie welcome to the ramsey show hi oh god this is actually happening okay breathe katie it's gonna be good holy moly what's up how can we help gratitude this is crazy okay um first i need to thank you for um everything thank you how can we help um so okay dave you have to promise not to yell at me

um my boyfriend and i have combined it all of our debt and our bank accounts, and we are gonzelle intense on our debt. We have about $89,000 left. We have smashed out all the credit cards. There's no more credit card debt, which is very freeing. So now we're working on student loan and auto loan. But my question is um my my family and i have recently joined a church that um you know my children and i were baptized in and um every month you know uh we have our budget meeting you know and um i'm the planner and he gets to change my plan which i don't really like very much but um my question is every month after month after month um the church column um is a bunch of zero because um i feel like i don't really have anything to give um and i just I want to be able to give um a 10 percent of our income is when are you getting

married ask him um I've actually had this conversation with him um I've actually been married twice before um so in his how long have you been dating We've been dating for over a year. If you're willing to completely combine your finances, you should never do that unless you're married. And then you should do it immediately. But this is very dangerous for you. Very vulnerable. Yeah. Yeah.

So either take your finances back apart or get married what was his response when you brought it up to him marriage um so we we talk about it we we want to get married his thing is like he wants to be able to provide picture perfect for me what's this sorry that's not an option. Yeah. There's no such thing. I got a hunch here real quick. Katie, what does he make income-wise, and what do you make? Separate those.

Okay. So I make one, two, three, like $4,000 a month give or take. Okay, what does he make? He makes about $55,000 a month, give or take. Okay, what does he make? And he makes about $55,000, roughly. Okay.

And I actually have more debt than he does. Okay. Well, number one, let's just back up, back the bus up here. Either get married in the next 30 days or separate your finances. Yeah. This is very dangerous for you. I'm scared for you. Okay.

You should not be paying his debt. He should not be paying your debt when you're not married. You are going to get, it's going to put a strain on the relationship. Something's going to blow up and one of you is going to get left in an unfair disadvantage due to this broken system that you should not be using. I'm not yelling at you. I just want good for you. I love you.

I want you to win. Then once you've made the decision to either separate your finances or combine them because you're getting married immediately, not next year, okay, then, I mean, this is not something you need to plan for two years. Painter, get off the ladder. And then once you decide all that, then we can come to your question. How do we put, you've just started attending church, how do you put church in the budget?

Well, you don't put church in the budget. You put God and generosity in the budget. And for those of us that are evangelical Christians, the first stage of baseline generosity is a tenth of our income going to the local church. But that is an act of worship. That's an act of not trying to buy God's favor. He doesn't need your money.

He says to do this because he wants to turn you into a generous person. Because generous people are much better children. And you and I are better children of God when we are generous. And so he's trying to turn us into that. And that's what the tithe was established for. It's not established as a rule. It's not established as a shaming mechanism by religious zealots. It's established as a method of teaching us the power of generosity when it's a regular rhythm in our lives. And so were I you, I would live on 90% of my income and be giving a tenth of my income to my local church

if I'm a person of faith. That's not a condemnation, but it's what I have done for 40 years, and it's worked really, really well for me. And there's no guarantee you're not going to have bad times. There's no guarantee of anything. It's just an act of generosity, and it's teaching us the rhythm of generosity, a baseline start. And I was in a church when I was going bankrupt, Katie, in my 20s as a baby Christian, and there were people there that would say things like, well, you know, God protects you if you tithe and i went uh missed that part went bankrupt i missed that well and then i had one old blue-haired lady say well you just didn't have enough faith and i said honey i didn't have anything left but faith they took everything else so i mean come on yeah so uh broken doctrine broken theology uh but and so you can get twisted up in all that toxic garbage,

or you can just say, hey, I'm going to live life with an open hand, and I'm going to be a generous person because generous people smile more. Generous people are less often depressed. Generous people are better at relationships because who wants to be in a relationship with a selfish person? No one, right? And so the act of generosity becomes a character quality, and it changes your whole life.

And so, yeah, I'm going to put that at the top of my list of things to do. Absolutely, but not as a legalism rule. Yeah, absolutely right. That is really scary doctrine, and it's what drives a lot of people away from the faith. If you think you've got to give God money to get something good from him, that is a recipe for frustration and desperation. Yeah, as if he needs your permission to bless you.

Right. And as if his blessing is dependent upon you giving him a nickel. Good gracious. If he wanted your money, he'd take it to a big greasy spot where you were sitting. I mean, he's God. I mean, come on, he doesn't need your money. That take it to a big greasy spot where you were sitting i mean he's god i mean come on he doesn't need your money that's not the point the point and so don't be shamed by it katie and don't be going because i heard the guilt oh every month i feel bad because there's nothing in the church column well let me put something in there but don't do it out of shame

do it out of hey i want to learn a different way of living that includes generosity and it includes a smile and it includes being married to this guy you've fallen in love with and combining your whole life not just your money and let's do the whole deal let's go game on but don't pay someone's debts ever and don't let someone pay your debts that you're not married to you're gonna get yourself in a pinch been doing this a long time and i never see good of it it ends as deloney says all the time this ends in ash oh that's a pretty harsh statement but it does it just the thing burns to the ground so i want you to win kiddo we love you and i'm happy that you're in

your family or in a good church and it sounds like you're starting your journey there um and or resetting your journey there that's awesome any of that i'm cheering you on ken's cheering you on we want you to win um and um no we're not yelling at you. That's not what we do. We yell at concepts, not people. But, yeah, don't, you know, those of you that are shacking up and aren't getting married, you can do that if you want to do it. I won't be mad at you. I'm not going to yell at you. But don't combine your money.

Don't combine your money because you're going to get burned. Don't buy a house with somebody you're not married to. You're going to get burned. I get it all the time in here. It's all the time. And you're just to get burned. Don't buy a house with somebody you're not married to. You're going to get burned. I get it all the time in here. It's all the time. And you're setting yourself up. You make dumb decisions like that. You get yourself burned.

We don't want that for you. That puts this hour of the Ramsey Show in the books. We'll be back with you before you know it. In the meantime, remember, there's ultimately only one way to financial peace, and that's to walk daily with the Prince of Peace, Christ Jesus. Hey, it's Ken. If you like what you heard in this episode and want to know more about getting started on the Ramsey Baby Steps, go to RamseySolutions.com and click on the Get Started button. We'll help you figure out the best next step for you based on your specific situation. Again, that's ramseysolutions.com and click Get Started.