The Ramsey Show - App - Can We Afford To Buy a House? (Hour 3)

Episode Date: April 10, 2024

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. George Camel, Ramsey personality, number one best-selling author, host of the George Camel Show, celebrating one year of excellence on YouTube. He's my co-host today. Open phones here at 888-825-5225. Celeste is in Jacksonville, Florida. Hi, Celeste. How are you? I'm great. Thank you so much for taking my call. Sure. What's up? Okay. So my husband and I are property managers at a self-storage facility.

We make $4,000 per year together, and we don't have any housing expenses because one of the benefits of the job is having an apartment with utilities included. My husband has a side household that makes an extra $500 a month. We're projected to be debt free at the end of May. And with this income, we can, we'll be done with Baby Step 3 by the end of December of 2024. And then we're wondering, how do we meet the manual underwriting requirements if we stay in this job for the next two years while saving up for down payment? Well, I mean, part of your compensation is housing, and that counts. As part of your, when someone's looking at it,

because you're making this net of housing. So, you know, a pastor, for instance, that has a parsonage furnished, that housing cost is included if you're looking at someone and it's in the military it's been the military for the last two years and they've been living on base so you look at their income but they've got housing and so that's that's part of the calculation when someone's looking as to whether you're financially able to take out a mortgage. Now, you know, the trick is this. What are you going to be doing when you don't live there anymore that creates income?

That's what they're going to want to know. Right, and that's a great question because, honestly, we love what we're doing right now because it has so much flexibility, and I personally am trying to build an're doing right now because it has so much flexibility and I personally am trying to build an online business right now that helps people optimize like nutrition and to reach like their fitness goals so that's what I'm working on now and in the hopes of you know hard work for two years of that it'll like supplement the income that we have now and then for my husband if you bought a house and moved out into a house,

you'd have to have a job, right? Right, exactly. And so that's where I'm kind of stuck too because I would love this business already to be running to the point where that is my job, my full-time job. That may have to happen or something else is going to have to happen because, again, you're just asking what the mortgage company is looking at. So, you know, pretend like you're the mortgage company for a minute.

Do you want to loan someone money that doesn't have a job? No, I don't. Yeah. They're going to look at tax returns for the last year or two and make sure you have consistent income. They're going to look at your savings, your bank statements, all of that, seeing what kind of money is coming in and out. And then one or more regular monthly expenses as an alternative trade line. So something like a phone bill or utility bill could count. Yeah, but part of you buying a home is you don't live on the warehouse side anymore, so you don't get to be the warehouse manager anymore.

And so you are changing careers as a part of this purchase and so that's what you've got to solve for more than really uh looking at the income because that income that you're making now doesn't even really apply but um but you know if they wanted to look back two years and say are you have you made an income yeah i did and i had this plus i got free housing they can make that part of the equation but they're they're also going to want to know uh since you're not working there anymore because you're moving out uh what are you what are you going to be doing consistent income in the future that's part of our process here all right up next is going to be eric in green bay wisconsin hi eric how are you hi dave hey george thanks for taking my call sure what's up well i uh wanted to get some feedback from each of you on my situation.

My wife and I are 47 and I just started listening to the show quite a bit in the last like four or five months. And ironically, I just sort of backwards had some of the baby steps covered, but not, I had some debt. So I aggressively cleared that. And so other than the mortgages, I don't have any debt presently. My wife and I have a cottage and a house, though. And our goal is to retire at 55. And we're looking at right now, in four years, the plan is to move up to our cottage and sell the house and then take the equity in the house, pay off the remainder of the cottage. However, in terms of where I'm at and following the baby steps,

I would be, I guess, at the state where I would be at step six. And I'm wondering if in my situation, we're trying to build up as much wealth right now so that we have enough, obviously, to live between when we start drawing off of per pension, our 401k and Roth and things like that. The opportunity I have though, is the organization I work for is an S corporation. And I recently was given the opportunity to start buying in on that. Would it make sense for me to invest the extra, I guess, in the terms of the debt snowball, would it make best to invest, you know, the extra, I guess in terms of the debt snowball, would it be best to invest in that right now, which typically, historically, it's about a 14 to 18% return.

My mortgage on each of those two mortgages I have is only 3%, but I could certainly start paying that off more aggressively, but I just can't understand if it would make sense to do that, given my goal of trying to retire at 55. So why are you investing in a sub-S if you want to retire? That's who you work for. Because the dividends by investing in it are, like I said, it's the best investment that I can make. I have a 401K and everything that I'm investing in.

No, I'm saying when you quit quit are you not going to divest i will but that'll be at 55 yeah five years from now right uh eight years from now okay all right um it's it's just kind of the the feeling of should i you know there's a lot of different subjects going on at one time here, so let's kind of break them apart and address them for a lot of different reasons. Let's just call it a single stock investment, okay, for a second. If you said, I want to invest in single stocks, or I want to invest in mutual funds instead of paying off the cottage so that I've got a big nest egg when I get ready to retire, I would say, no, go ahead and pay off the cottage. Because that sets you up to move into a debt-free situation that you don't have that payment anymore.

You can use that increased cash flow to invest. And then when you do sell your house, instead of selling your current residence, instead of using that to pay off the cottage, you use that to create the nest egg. It's just flip-flopping it, okay? Yeah. That's what I would do in lieu of the now the other subject is this sub s okay and so what i think i'm hearing is is this is a um a privately held small business of some kind and they're letting you buy into it and you will

be a minority shareholder. That's absolutely correct. Okay, that's what I thought I was hearing. So a lot of problems there. You've got no liquidity. They set the stock price somewhat by an accounting system, but somewhat arbitrarily. And you don't get to decide what the expenses are that drive profits.

You don't get to decide on dividend distributions. You're a minority shareholder. Your vote doesn't even count. You're not in control. Let me tell you how much money I put in stuff like that. Zero. Zero. I can't get out of it. I can't control it. Someone else arbitrarily controls it, and no way I want in that deal. No way. I'm going to go with traditional investments where I can control them and where I can get liquidity. This is the Ramsey Show. Well, the beautiful thing about Nashville is that sometimes some of our famous friends drop by. And that's the case right now with Andy Irwin dropping by. Andy's a famous filmmaker, for those of you that don't know, and has become a good friend

and has done a whole bunch of things over the years. Anything from music videos starting out with artists like Skillet and Switchfoot and Michael W. and Amy Grant and all that. Nowadays, he's been making big-time movies. The latest one that just went zoom zoom was the jesus revolution movie it went fabulous and it was amazing absolutely amazing and um the uh uh i can only imagine film of course with a friend bart millard from mercy me that one did y'all made good money on that that was a good movie my investors are happy yeah i know a couple of the investors they were very happy

that uh bart was smiling. He was. Everybody was. We were giving high fives. Yeah, it was a good thing. So a new film coming out by this fabulous film producer. It's called Unsung Hero. It'll be in theaters April the 26th. And it was nice enough to send Sharon and I a link, and we were able to watch it in the comfort of our home,

a pre-whatever you call that. A comfort of our home, a pre-screener. My own private version, just me and Sharon. It was absolutely fabulous. This movie has got one of the more powerful story arcs for the protagonist. The screenplay is excellent. It's well done. They did a great job.

And I'm happy to fill in until one of your famous friends show up, so I'll just be a stand-in for whoever that is. But, yeah, Dave, the reason why I sent it to you is I felt like this story would really click, just knowing your story and knowing what y'all's story came out of. It's very similar in that regards where this guy, David Smallbone, who his kids are the kids from the band for King Country,

so Joel and Luke Smallbone. Joel plays his father in this film, and he directed it. And it's their story that they came over from Australia as this young immigrant family chasing the American dream, got over here with six kids, a seventh on the way. After having gone broke. They lost everything. Yeah.

Lost everything. They were this close to being homeless and didn't have any furniture, didn't have a car. And the local church rallied around them and tried to help get them on their feet. And they did everything from cleaning houses to uh you know to doing yard work as a family and this whole thing david thought that his family was in the way of his dreams until he finally understood that his family was the dream they were the way and uh it's a beautiful beautiful story yeah unsung hero is really referring to mom yep the glue of the family was helen the mother and she was this one where you you know, while her husband was

off chasing kind of grandeur, she was the one that held this family together. She was the glue. And then at the end, he realized the treasure that he had in his wife fighting for the family. And that became the dream. Yeah. And the kids for that matter, because the oldest was Rebecca St. James. Rebecca St. James. A lot of people don't know that. So Rebecca St. James was just, I mean, I remember when I was in college, she was a force of nature. Oh, yeah. It was just amazing.

Christian artist that was on fire. Yes. She was just going, yeah. And she just redefined what Christian music sounded like. So she was that round, and the whole time her little brothers were helping out behind the scenes, and that became Joel and Luca for King & Country

that are setting the world on fire now. So it's their whole family story, and Joel telling it and playing his father, scenes and that became joel and luca for king and country that are setting the world on fire now so it's their whole family story and uh joel telling it and playing his father when he came to me he was like he said uh he said i want to i want to do this movie i was like okay he's like i want to do it in the next three months it's like all right he's like i want to direct it it's all right and he said i want to play my father i was like you're crazy but you're crazy enough. I'll go with you. Yeah. That's counseling therapy stuff right there. Exactly. Yeah.

Oh my goodness. Wow. So I know what Sharon and I walked away. We not only were entertained, we were inspired and reminded the, I guess the power of the human spirit and the power of God showing up in the middle of a family and showing that he had a plan for him. Yeah. That's what we came away from the movie with.

What are you guys hoping that the audience gets? I mean, I think right now the most rebellious thing we can do is tell stories of hope that lift up the family. I mean, I think the family has been so kind of pushed down by a lot of societal messages for so long that the idea of telling a story where the family gets to be the hero and keeping the family together, I think it's a rebellious story. And so I want to lift up the power of the family, the power of parents, the mother's

influence on this family, and ultimately understanding that it's not about chasing the American dream. It's about chasing your family being the dream, and that's where you find the bigger purpose. And so it's one that I think really registers reminding people the importance of their family yeah it was interesting to me to be watching it and having been around nashville all this time and i knew who david smallbone was i knew who certainly knew who rebecca saint james was um i don't didn't know the boy's story yeah i found that out a little bit later but just because i'm the old guy but i'm so i'm i'm watching this thing and i'm going i know these people wait a minute because i didn't know who it was at the beginning of the movie uh-huh i had to get down

into it before i before it clicked who i was actually the story i didn't set it up well apparently because no you didn't need to set up you just sent me an email it was fine i wasn't complaining about it but it was from somebody who's kind of these guys are all they all live within 10 miles of here. You know what I mean? They're all right here in the neighborhood. And yet it's, they're all world-class talents at what they do and fabulous people. And you didn't even know that it was Joel playing his father.

No, I didn't until you and I had breakfast. Yeah, we're having breakfast. You're like, who was it that played? The dad. That was Joel from the band. It's like Daniel Ramsey playing Dave. Exactly. That's pretty wild. That's just creepy. I'm here to pitch you that story. That's like Daniel Ramsey playing Dave. Exactly. That's pretty wild.

That's just creepy. I'm here to pitch you that story. That's next. A boy can dream. Nope. That'd be a short film. You don't do short films. No.

You don't do it. Well, you're doing something really cool. And for a limited time, our Ramsey listeners can go to this link, unsunghero.movie.ramsey, and they can get free tickets. Yeah. Out in the world. So the exciting thing about it is this is really unsunghero.movie slash Ramsey, and they can get free tickets. Yeah, so the exciting thing about it is this is really a grassroots story, and it's so important

opening weekend to have just a strong presence because that's where Hollywood doesn't ever see us coming. So what they predicted with I Can Only Imagine was it was just going to do a fraction of what it did,

and they're like, what in the world happened? And Jesus Revolution fried their brain. Same thing. Hollywood didn't know what to do with those numbers. Those were amazing it's just it was amazing to kind of watch and so for this one we had a group of businessmen donors come along and say we'll sponsor some tickets so there's a donor that sponsored tickets specifically for your audience i was saying today while it lasts i mean as soon as the tickets are gone they're gone

but for a limited time if you go to to that uh unsung hero dot movie slash ramsey uh it'll have information on how to reclaim your ticket codes for opening weekend take your family on us and uh just for being a listener of uh the rams you can get up to two tickets and the show times are between 4 24 and 4 28 and the the code is hero free at checkout so that's really generous of you thank you for doing that our listeners are going to be excited i think they're a great target audience for this kind of movie we're all about hope around here i don't know if you've listened to the show for three seconds but great crossover there so talk about the cast that was interesting obviously joel playing his dad but there were some other issues yeah it was you know as we did it you know

joel really wanted to uh to make sure the casting was authentic and so he was really picky about who played his mom i would be too that's a tremendous responsibility and he found this one actress in australia that we knew through some friends and he loved her body of work named daisy betts and she had taken four years off from acting to to be a mom and had gone into retirement and he called her and talked her out of retirement she absolutely steals the show so she's amazing and then we have some familiar faces like candace cameron beret uh and then lucas black who's an amazing he's the only guy that has a thicker southern accent than me and you and uh he's amazing and play these play they play this

couple that really from the church that kind of he played in one of the other films yeah he's amazing. They play this couple from the church that kind of. He played in one of the other films. Yeah, he's been in a lot of stuff. So he's been in the Fast and Furious movie. He started with Sling Blade. He was a little kid in Sling Blade. Yeah, but I saw him in something. Was it the golfing movie?

Yeah, he was in the golfing movie. It was the one with Robert Duvall. Yeah. Yeah, he did that one. So he's amazing. So it's a great cast. And then Hilary Scott from Lady A, the band, she plays a part. But it was a lot of fun.

We had a good time. What part was she? So she played the choir director. We snuck her in there. If you look, she's the choir director. I'll have to go back now. Okay, I drove by that one. A little Easter egg for you.

I know Hilary, but I drove by. Makeup and hair. Exactly. There we go. The movie's called unsung hero. It is about a family that overcomes and you will leave smiling with hope. You'll be stressed before you get there. That's a good story arc and check it out.

Unsung hero dot movie slash Ramsey. A donor has provided you guys a free ticket. Go get it. Go watch this movie and support and raise this thing up. We need to raise up hope and family in this country it's a good thing to do and uh andy erwin you're a rock star man we appreciate you god bless you appreciate you this is the ramsey show george camel ramsey personality is my co-host in the lobby of Ramsey Solutions on the debt-free stage.

Keaton and Kennedy are with us. Hey, guys, how are you? Doing great. How are you? Better than I deserve. Where do you all live? Austin, Texas. All right.

Welcome to Nashville. Thank you. And how much debt have you two paid off? $181,000. All right. How long did that take? Right around 51 months. Good job. And your range How long did that take? Right around 51 months. Good job.

And your range of income during that four years? Started at $105,000 and ended at $195,000. Excellent. What do you two do for a living? I'm a full-time firefighter with a lawn care business on the side. And I was in retail operations at a bank for about 10 years, and now I stay at home alone. Excellent. Well done.

What kind of debt's debts the 181,000 oh it was auto loans student loans personal line of credit um and our house paid off your house couple of weirdos yes sir way to go weird people i like it yes sir so what's this house worth uh about 300 maybe a little shy of $300,000. Very cool. And how much in your nest egg? We've got about $20,000 and then another $80,000 to $100,000 in retirement. In retirement. Okay.

Excellent. Very good. All right. So you're almost halfway to being millionaires already with a paid four house. How old are you? I just turned 30. Oh, wow. And I'm 28.

And you have a paid four house? Yes, sir. Y'all are really weird. A little bit. I love it. Yes, sir. I I'm 28. And you have a paid-for house. Yes, sir. Y'all are really weird. A little bit. I love it. Yes, sir. I love it. So tell us the story.

What happened? How'd you get connected to all this Ramsey stuff? Well, in 2019, we were engaged, about to get married, and a guy from the fire department that I work with invited us to do Financial Peace University. So we signed up for it, and we paid off our consumer debt and then bought the house that we have now and then um we saved up down payment uh for some land that we thought we're

going to build on um and we prayed about it and god had other plans and uh you know real estate got expensive building got expensive back in 21 so we sold our land and put some of that money towards our house and helped pay it down but we still owed almost 80,000 on the house and after that we really just kicked it into gear and got on the budget and prayed about it and paid it off I love it how long you guys been married uh four four years four. So was this as soon as you got married, you were like, all right, let's clean some debt up. So the bank that I worked for, we actually taught your principles.

So I was familiar with the Ramsey plan for a while before. And then, yeah, I guess we've just always been in sync on finances. It's never been an issue. We've always been on the same page. So, yeah. It just became, well, this is the plan. We both agree on the plan.

Let's do the plan. Well, you get married, and then you go through the whole thing again with the fire department, right? The Financial Peace University again, right? Yes. We went through there. We both went through the same class with other firefighters and their spouses. That's cool. So that really helped us stay focused. Yeah. So it was just a reaffirmation what you already learned at the bank but now i'm

doing it with my husband yeah very good very good and it's cool to have a crew doing this all together was it cheering each other on ribbing each other like what was the support yes yes both um yeah it was cheering each other on and still we have um guys that are interested in doing it and still trying to cheer them on and also ripping each other as well. That's part of it. Yeah, you beat them. You got your house paid off first. Yes, sir.

What a cool testimony. I mean, I'm sure they're inspired by you guys as well, being so young with a paid-for house in this economy. I mean, how do you even do that? Are people just thinking you're weird around you that don't understand? Yeah, or wrong one of the two yeah it's not right yeah yeah so 28 and 30 in a paid for house worth over three hundred thousand dollars um someone watching this wants to know how do you do that what do you think is the key to getting out of debt is for me it's contentment um just you know we have we had awesome incomes both of us we i wouldn't say like we talked about sacrifices i didn't really feel like we had to sacrifice that much we just had to live within our means

and it was really i mean just paying attention to what you had and discipline we already had way more than we needed um and so it was just you know mean. It was paying attention to what you had. And discipline. We already had way more than we needed. And so it was just, you know, cutting out the little things, the restaurants and not eating out as much. And the new vehicles, we always buy used vehicles with, you know, 20,000 to 40,000 miles. We drove here in a four or five-year-old vehicle, six-year-old vehicle, actually, with 60,000 miles that we paid for in cash. So it was discipline. Yeah. yeah way to go you guys yeah it's interesting the word contentment and sacrifice you don't the more content you are the more other people would say you're sacrificing but it doesn't feel like sacrifice no not at all at all you're not striving for to live outside your means yeah but the less content you are everything's a sacrifice you know it's like so but but that changes the whole equation that's a very good

point very good point so good job you guys yes sir thank you how's it feel to be completely free amazing i get to be a stay-at-home mom hey yeah the same day we paid our house off it was our last day at the bank wow was that coincidental or did it happen that way yeah we timed it yeah we gave a good she gave him a good two months notice yeah you hit to submit button submit my resignation and submit the that last payment there we go that's i like it very very good good for you these kids don't know how how good they have it how incredible their parents are yeah you guys are heroes well done what uh what's the first big thing you do now that you have no debt well uh she's staying home and then um we want to uh get back on you know a house on a few acres outside of town back in there we were make

that move that you're that you'd plan back there yes sir lord willing yes sir that's a good move it's a good move it's a good move i think i think he's willing yeah that's good because you are and it's going to be easier now with no payments you guys are going to do that so quick yeah yes sir very cool all right you brought the kiddos with you let's bring them up what are their names and ages this is crawford he's eight months and this is sutton she's two and a half all right goodness we're ready so you guys you got a good job there mom well done well done good stuff all right it's Keaton and Kennedy Sutton and Crawford from Austin Texas 181,000 paid off house and everything at 28 and 30 making 105 to 195 count it down let's hear a debt-free scream three two one

you know it's strange for me ge, because this is the world I live in. And, you know, occasionally you or Rachel will bring me something from the other world, the world that's not real, the virtual world, where there are people in the virtual world who say that it's impossible for a Gen Z or a millennial to prosper in today's economy and the world i live in i meet them like there they are i meet them every week that are paying off their home they're going to be multi-millionaires they've got a beautiful family they made it were able financially to make a choice for her to quit the bank and go home um how can that be

he's a firefighter he's not a rocket surgeon i mean what do y'all want i mean it's like this guy these you know what they have they have a superpower common sense have a superpower and it's just you know i, you heard the secret sauce. We were content. I didn't hear a single line of victim language or entitlement language or, oh, the world is so rough out there. There was no whining, no cheese needed with the whine. And it was just, but in that virtual world where you guys run around over there, it's like that's just like a thing now. Oh, yeah. I mean, it's exhausting.

And they're all excuses. And they spend more time editing TikTok videos about how bad they have it than they do going to work and paying off debt. And this is a couple, I mean, 28 and 30. And they're not saying, well, the boomers ruined it for me, Dave. Or put a shower cap on their head and do a Dave Ramsey impersonation. Now, that one I saw. That one went viral. It was a good one. Yeah, there's some pretty funny ones

making fun of me. I'm just saying. Y'all brought me one of those. That guy's hilarious. Trey Kennedy. Yes. Is that who his name is? Don't give him a name. Don't promote him. Well, that's fine. No one go look at the video. No one. You won't like it. It's hilarious. There's a lot of stuff making fun of me out there and I'm okay with that part.

But I tell you what, I'm okay with people like Keaton and kennedy oh yeah they give me hope this is why i come to work every day if you watch the headlines you got the world's falling if you watch this debt-free scream you go it's gonna be okay if you're keaton and kennedy i'm here for you if you're a whiner i'm gonna be a problem for you stick to the tiktoks it's just my job. This is The Ramsey Show. Our scripture of the day, Psalm 3419, The righteous person may have troubles, but the Lord delivers him from them all. Don't dodge difficulties. Meet them.

Greet them. Beat them. All great men have been through the ringer. A.A. Milne, however that is. I like that. I'm with you. I get it. I get it.

Just go at it, baby. Go at it. Lisa is in Green Bay, Wisconsin. Hi, Lisa. Welcome to the Ramsey Show. Hi, Dave. Thank you for taking my call. I can't believe I'm speaking with you. I really admire you and what you teach.

Well, thank you. We're honored to have you. How can we help? Well, my husband and I are in Baby Step 6, and one of the things we knew we had to do is replace the vehicle that I had been driving for over 16 years because it was becoming unreliable. That's reasonable. We found a vehicle and we purchased it. We paid cash and now I'm feeling very guilty. I'm having a hard time getting over feelings of guilt from making such a large purchase. Is there anything I can do to just get over the guilt? Why do you feel guilty? Because it took so long to get out of debt, and making such a large purchase, I think it's hard for me.

My husband is fine with it. It's just I'm feeling guilty over it. What is a large purchase? What did you pay for the car? Just under $23,000. And you saved up in paid cash. Did you all steal the money or did you earn the money? No, we earned the money and we saved up in paid cash.

And this purchase didn't violate any of your personal values? It didn't hurt anyone? No, it did not. You're driving the car. Yes. And you were driving the hoopty that was worn out before yes and in fact it left me stranded a couple of times in the last few weeks so we know we really needed to get on replacing it yeah yeah i'm gonna call this uh

live like no one else syndrome is that fair okay you've sacrificed so hard and now you're on the other side and now it feels strange to let go and enjoy it does because i never paid cash for a vehicle before yeah you wouldn't have felt guilty if you got it on payments at four hundred dollars a month because that would have punished you that would have counterbalanced it, yeah. Yeah. I think that you are a classic noble mom, and anytime someone spends money, you feel like they're spending money on you, that bothers you. Yeah.

It's not about the car. It's not about the car. It's not about the car. It's like you car you feel it's not about the car it's like that you feel like the family spent twenty three thousand dollars on you yeah that is how i feel because i'm the one driving it and it was specifically purchased for me my husband his truck is paid for and how many kids you got we don't have any children okay so you're just driving a car yep and after 16 years you finally got a decent one yeah i i i think that's all it is i think you're just a a person that doesn't want to look like or feel like that it's about you you you're you don't want to be

out front you want to be in the background and it feels like that this is ostentatious or flashy or something like that to you, even though it's not, by the way. It's really nothing. Nobody really noticed, I promise. You're the only one that noticed. Is this a very flashy car? No. Lisa doesn't buy flashy cars.

People aren't turning at the stoplight. Wow. What kind of car is it? I curious what'd you buy the one we just replaced in 2008 I bought a jeep wrangler brand new and this one is another jeep wrangler used so I had 155,000 miles on my black jeep and I found this one it's white so let me tell you let me tell you the only people that see a jeep wrangler at a stoplight are other people driving a jeep wrangler yes that's true it's a cool car but it's not flashy no you're not pulling up you're not pulling up in a lamborghini or corvette or something right so hey i'm i'm kidding around a little bit but the truth is

um if you just need us to tell you george and i can both tell you what you've done is very reasonable it is not selfish it is not irresponsible you're not out of control you you know what you did here was a wise thing and you know making such an extreme jump because you waited an extreme period of time and were driving an extreme piece of crap and you moved up out of that that the the the distance of the move is what gave you a little bit of whiplash yeah and i truthfully i experienced the same thing as lisa when i upgraded from my little beater honda civic that dave was making fun of me for and i got my little old tesla it that now i make fun of you for it still makes a theme here. It still took my breath away to write that check and pay cash a little bit. And then

the next card that my wife got was even more expensive than that and it took my breath away again. And over time you sort of get used to that flexing that muscle and going, okay, it's stuff. It should cause a little gasp. You wouldn't be normal if it was the first time you've ever done something that

size and if you do it without thoughtless if you're thoughtless about it that would be irresponsible you need to you need to feel it yeah a physical reaction to the emotion save up for months for this purchase you should feel it the first time you do that whether it's a giving an act of giving and you give an amount you've never given before that should catch in your throat a bit or when you're purchasing something you go i just what you know and you have that moment that's different than a lingering guilt sense of i did something wrong yeah never felt and you didn't do that you didn't do anything wrong you didn't do anything wrong except you bought a tesla but i knew that was coming. I knew it.

Bozeman, Montana. Liz is with us. Hi, Liz. How are you? Hey, Dave. Thanks for taking my call. Sure. What's up?

I wanted a little bit of advice. My husband and I, we got together when we were really young. We're relatively young parents. When we first got together, we kind of didn't have any really big goals except that we wanted to start a family together. And that first kid definitely set us in motion. We were like, okay, we need to, you know, have some professional goals. We were just working at like grocery stores and stuff, just enough to get us enough money for our next road trip type thing. But now my husband is working in construction. He does HVAC, um, and I'm stay at

home just cause we found that it wasn't quite, uh, worth the money to put them. There's two babies into daycare. Gotcha. How can we help you today? So, uh, I'm kind of, I'm curious as to whether or not I should go to college this upcoming fall. My thought is that, um, we're out here in Montana all alone. It's just my, my husband and I, and I don't, I'm not trained in anything. I'm not qualified in anything to make as much as he does. So if anything were to happen to him or if he wasn't able to work his job, I just, I don't know how I would provide for the girls. So I don't know whether or not I should go back to college this upcoming fall and try to get, you know, a degree to make me as much money as he makes.

Or if I should have faith in him and continue to be a stay-at-home mom and just ride that out. I don't know if faith has anything to do with it, but I would get term life insurance on him if you don't have that already, and on you. Do you guys have that in place? We have it on him. We do, yeah. Mine is not a lot as a spouse, but his is good. Okay. If you want to develop a career and you have a passion about moving into a career

and you have a very specific thing that requires a college education to move into that and you want to do that, that's fine. But generally, I want to get an education because generally I want to be more valuable. No, I would not do that. Okay. If it's a part of a very specific plan to execute that says okay when the kiddos hit kindergarten i'm i'm on go and i want to be a xyz okay i want to be an er nurse i want to be a whatever i don't care what it is you you know

then you start asking okay what education what certificates do I need to be one of those things? And I would go do that. But just generally, I'm fearful because I feel underprepared for life. No, that's how you go spend the wrong money on the wrong degree. I would not do that. Yeah, because I'm going to be honest. I want to be a stay-at-home mom. I love being with my girls.

Okay. But when they're in school, do you want to do something? I don't know. I kind of want to support them. Okay. And my husband was homeschooled, and he sort of wants me to homeschool. I just feel really bad with the way I am. There's nothing wrong with that.

There's absolutely nothing wrong with that. You're not doing anything wrong. Don't go get an education just to say you got one as a fallback because it won't work. It won't accomplish what you're trying to do. Hang on. I'll send you Ken Coleman's materials just in case you want to read through them. Sounds like you don't, but we'll help you get the career assessment going and get you a copy of the Paycheck to Purpose book. 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. We'll see you next time.