The Ramsey Show - App - Combating Fatigue in Times of Severe Stress (Hour 2)

Episode Date: May 20, 2019

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Live from the headquarters of Ramsey Solutions, broadcasting from the Dollar Car Rental Studios, it's the Dave Ramsey Show, where debt is dumb, cash is king, and the paid-off home mortgage has taken the place of the BMW as the status symbol of choice. I'm Dave Ramsey, your host. Thank you for joining us, America. We're glad you are here.

Open phones at 888-825-5225. Our Ramsey personality, Ken Coleman, helping people with their careers, is on the road continuing the Proximity Principle book launch and book tour. And so checking in with Ken today, he's in Houston, Texas. Hey, Ken, welcome to the dave show man how's it going out there we're having a blast dave houston texas is beautiful and uh just having a big time as we start week two there we go cool so you've been over there doing doing media today yes sir we started off with fox 26 mornings and then we did a segment for the CBS affiliate here. I've been doing national radio calls in the breaks, and now on with you.

And then after this, we'll head to the airport for Phoenix, Arizona, where we have our book signing in Mesa tomorrow night. We'll be doing media Good Morning Arizona a couple times tomorrow morning. So we're off and running. And you were a guest on the One Thing podcast that's airing today, I saw on one of my notes. That's right, one of the large podcasts out there. So thrilled to be on that, and a lot of stuff lined up. We've got a lot of podcasts lined up all week.

Yeah, and you're, of course, heading over to Phoenix tomorrow, you said. And we've got a book signing tomorrow night there for the proximity principal at Mesa, right there in the Phoenix area, Barnes & Noble there at Village Square at Dana Park. 6 o'clock, come out, and Ken will not only sign your books, but we're doing a giveaway, of course, right? That's right. We've got $500 we're giving away in two amounts. One is $450 in straight cash, Dave,

and then we're going to give a $50 Starbucks gift card out to that same winner. You've got to be present to win, and that $50 gift card is to help you get the proximity principle rolling in your life with some coffees, with some people who are doing what you want to do. And so we're really excited, have great attendance at our previous book signings, and looking forward to a great crowd in Mesa at the Village Square, Barnes & Noble at Dana Park. So those of you in the Phoenix market, be listening and watching our friends over on KTAR, the Carrie the Dave Ramsey Show, Bruce and Pamela Show.

You'll be visiting with them on tomorrow as well. And of course, our good friends over at Good Morning Arizona on KTVK. And a couple segments there, 15 9 15 so be watching your television and listening up he uh ken's going to be everywhere tomorrow all over the phoenix market signing books tomorrow night and then you guys head over towards california from there and uh wrap up the week with a signing in Sacramento on Friday evening, right? That's absolutely right. We will be at the Barnes & Noble Arden Way in Sacramento, 6 o'clock again on Friday night. So same setup, $500 giveaway there.

And that will be after we do a couple days in Los Angeles, doing a lot of stuff there as well. So really excited about the crowd in Sacramento joining us as well. Yeah, you've got a ton of media and podcasts there in L.A. to do while you're heading across. And that's going to be, you're going to get loaded up with that. That's very, very good. That's going to be a good stop. So a lot of good things happening. Book is the proximity principle, the proven strategy that will lead to the career you love. And, Ken, for those that have been somehow not listening to this show in the last few weeks,

you want to get in proximity to two different things, right? That's right, the right people and the right places. So specifically the right people. These are people who are doing what you want to do. They're in the same industry or they are performing the same craft and they're doing it successfully. These are the people that you really want to learn from and also connect with because they can give you insight in how they got there, what they think you need to be doing to get there, and then they're going to connect you to more of the right people and they're going to show you the right places.

And specifically the right places are, where's the craft or who's teaching it? Where is it being done? Where can you observe, whether it's volunteering or auditing classes or taking trade classes or trade school? You want to be where that craft and that industry is happening, even if it's an association or it's a convention. So the right people, Dave, plus the right places equals opportunity. And that's what people have come to this country for since its inception,

opportunity. And proximity to the right people and right places gives you that. In other words, Dave, proximity positions me where I want to be, and it propels me where I want to be as well. And so I'm always looking to be around the right people in the right places. And there can be several steps to that over a period of time that the saga, the journey unfolds. But sometimes it's just very simple. I ran into an example of your proximity principal this weekend i was in kansas city and uh in a high-end wonderful nice country club and

i met the pro the golf pro there and we were talking and uh he's been the golf pro there for 20 years but uh but but he the way he got the job was he uh took an internship and was there for less than six months, and the guy that was there abruptly retired because of health, and they said, hey, you want the job? You know why they said that? Because he was standing there. That's exactly right, and he had done a good job while he was there. He had probably been pretty humble and not tried to do too much

and been helpful and we're just looking to continue to add value and dave i love that example because here's what we know about proximity when we're in the right place the right time finds us and we don't know when it's going to be could be six weeks six months uh but here's here's what we know it will continue to move you closer to the dream job and and that's what's so empowering for people when they're reading the book. We're getting great reviews from people on social media and on Amazon because we help identify specific types of people and specific types of places that if you just are diligent to show up and keep showing up,

opportunity will come to you. Absolutely. Good stuff. The book is The Proximity Principle. You can get it at DaveRamsey.com and at Amazon.com. Anywhere that great books are sold. Certainly Barnes & Noble is sponsoring the book signings on the tour. And you're

welcome to drop by Mesa, Arizona's Village Square at Dana Park. 6 p.m. tomorrow night for those of you in the Phoenix area. That's Tuesday evening. Friday evening, May the 24th,ramento barnes and noble at arden fair uh and that will wrap up the uh the last week of the two-week tour for the proximity principle again this book has uh it's done extremely well it's running about number 100

on amazon right now it has stayed up there all week it's very well. It's got a slow burn, and it keeps burning. I love it. The proven strategy that will lead to the career you love. One of the things you always find in a Ramsey-produced book is there's always inspiration, and there's always a clear path, and Ken gives you the clear path. That's really important to have a clear path, isn't it, Ken? It really is. People need to know that it's possible that if they put the work in, that there is that clearing ahead, that they can actually get up to the top of the mountain.

And these are proven steps. They're evidenced in not just my journey or your journey, Dave, but in every successful man and woman's journey. they've used proximity to get where they want to go. There you go. Ken Coleman, congratulations. We're proud of you. Keep after it, brother. The book is The Proximity Principle, the proven strategy that will lead to the career you love.

This is The Dave Ramsey Show. This is big news, guys. You need to stop and listen. The Fed decided not to raise interest rates. That means you've got a small window of time before rates rise again. Here's the deal. Most people are paying too much interest on their largest expense, their home. So you're freaking crazy if you don't take 10 minutes to call Churchill Mortgage right now and see if they can save you money before rates rise again. A mortgage through Churchill could save you thousands, or better yet, reduce the time until you're debt-free.

Can you imagine how it would feel to no longer have that payment looming over your head every month? Just go to ChurchillMortgage.com or call 888-LOAN-200. Their team of experts will give you more clarity about your options and more peace knowing you're saving significant money in the long run. Call 888-LOAN-200. That's 888-562-6200 or churchillmortgage.com. Thanks for joining us, America. Danielle is with us in Jackson, Mississippi. Hi, Danielle. How are you?

Not as well as I'd like, Dave. How are you today? Better than I deserve. How can I help? I am in step two. I just finished after 15 months paying off $19,589.68 on my student loans. I'm free of Sally Mae. Way to go. I have $8,800 left to go on my car. I reversed the order because Sally Mae made me madder. But I kept with it, and it's paid off. I'm my husband is nine months sober that's very important our marriage is shaky your husband is what nine

months sober oh okay good so that has been through this as well so the marriage is still shaking my mom told me in february she's dying of lung cancer. I'm an only child, Dave. My mom has. And I don't know how to keep going forward. Do I stop the snowfall and start putting money up because of my job? They've told me we have less than 50 employees, and after six and a half years they're not going to honor FMLA when I have to take care of my mom at the end. And she is dying.

And I don't know what to do. I'm like, I'm going to have to take care of my mom at the end. And she isn't dying. And I don't know what to do. I'm scared. Where does she live? She lives 30 minutes away from me in Madison, Mississippi. So I'm spending a lot of time driving between my job and hours south of her at my house, which is the halfway point. And in her house, I'm averaging three hours a night. I'm asleep at night, and I am exhausted,

and I don't know what to do anymore. And I thought I would be excited about paying off the student loan, and now I'm waking up and saving the money and kept paying the money, and it just... Okay. Do I keep paying on the car or what? Just a second. Okay.

You've got enough stuff on your plate that some stuff's falling off your plate, kiddo. Okay. And there is a saying that says fatigue makes cowards of us all. You are so tired and you're so emotionally drained from dealing with an alcoholic and with your mother's diagnosis and you're not sleeping because you're...

So you got to take some stuff off your plate. You just got to decide what it is. Okay? Because you're not going to be able to function. You're going to have to prioritize what is most important to you, and you're going to do some of that, and some of this other stuff you're not going to do.

No, getting out of debt right now is not a big deal. You can put that on hold. Have they given your mom a timeline, a prognosis? Not really. One day she's losing more everything. It's really hard. Lung cancer is tough. That's a tough one.

So, how old is she? She's 75 and she's the most beautiful woman you would ever meet. I bet. So, let's visit. Here's a good way to make decisions on prioritization okay let's visit 10 years from now and you look back on this time would you be glad that you paid off your debt but didn't spend time with your mom no you wouldn't so they make

that decision pretty easy right when you look back on this time 10 years from now, would you be glad you spent time with your mom and it cost you your job? Maybe. Maybe. What do you do? What do you do for a living? I am a wastewater treatment operator, lab tech. I make sure the water is safe and we don't kill fish.

Okay. All right. And how long have you been doing that? Ten years. Okay. And what do you make? About $35,000 a year. Okay.

All right. So $35,000 a year jobs are easier to replace than $235,000 a year job. So let's pretend that you financially had a setback, that you not went into debt, but that you made no progress and your income went down because you had to make some choices to walk away from this job because they won't let you have time off to sit with your mom. Okay? Okay. Now, I kind of got this narrowed down to there's really one thing to deal with and that's

mom because your husband's got to deal with himself you can't do that for him he's clean he's got nine but you can't do it for him and so you can't carry that weight he's got to do it for himself and he is and that's a good thing he's got nine months that's pretty cool i like that i'm proud of him uh but you can't carry that one the only thing you can carry is the three things draining you getting out of debt working in a place that won't let you have time off to spend time with your mom or spending time with your mom okay so the way the drama goes down is you change your schedule and then your drama will go down you're still going to have the drama and the pain of what your mom's facing and walking over the next few months of that with her.

But by this time next year, you know, you're going to be making different decisions likely. Would you agree? Yes. Yeah. Because she probably doesn't have a year, does she? No. Okay. So how old are you?

44. Okay. So when you're 54, if 2019 is the year from hell and it's in your rearview mirror and your income went down and you spent time with your mom, was that the right choice? Yes. Okay. So I would just calmly and not belligerently and not with a bunch of tears or drama stroll into your supervisor's office and say, we're going to have to talk because my mom,

and spending what little time she's got left on this earth, is more important to me than this $35,000 a year job. So if you guys can work with me, I sure would appreciate it. If you can't, you're going to have to fire me because my mother has cancer and I'm going to spend time with her so i'm going to take all my vacation time and then i'm going to take some more time unpaid and then you're going to have to fire me because i'm not because i'm going to do this and you just be kind about it you don't have to be mad or belligerent or entitled not like they owe you something but if you just kind of are a little

bit aloof because you've made the decision i suspect that might be the strongest negotiating position you could possibly have walk away power okay but then if you have to just walk away you can deliver pizzas and you know you can wait tables and you can do something and keep enough money coming in to eat right i would like to believe so yeah i think you can you're capable and you're not going to not work at all you just got to have some time where you spend some time with your mother and i would if i were in your shoes and and that these were the choices in front of you so um you know you worked here, we would give you the time off because it's just more important than a job. It's just a job.

It's not your salvation. It's a job. Whoopee. You know? Am I wrong? No. Okay. You're going to be all right, kiddo.

But you cannot continue to try to do everything at once you're unraveling aren't you badly you need some rest don't you i don't know how to do that anymore it's like i forgot how to sleep i just told you quit trying to do so dad gotgum, much. And make some solid decisions. Let me tell you, the most stressful, anxiety-causing thing is ambiguity, not having made decisions. Even if they're painful decisions, making the decision will set you free. You just decide, this is what I'm doing, and even if it costs me that, this is what I'm doing, period.

This is how it works. Are you in a good church? I've been going to my mom's church with her, but they don't really seem I'm not thrilled. Okay. Well, listen, get in touch with a pastor in your area. You need a good pastor in your life right now. Somebody to walk with you and your mom through this. And you might try her, Pastor.

Maybe you just haven't connected yet. It could be that you're not seeing things clearly right now because you weren't when I started talking to you a few minutes ago. So give that pastor another shot. Sit down with him and tell him you guys need some help walking through this, that you're scared and you need somebody else in your life. And you can make it through this. You can make it through this.

You're going to make it through this. You don't really have a choice. But if you'll make solid choices, your stress will go down, and you'll have time to rest, and your fatigue will drop. And then you'll make even more solid choices. Fatigue makes cowards of us all. You're going to be okay. You call me if I can help you more. This is The Dave Ramsey Solutions, Tavis and Leslie are with us.

Hey, guys, how are you? Good, how are you? Welcome, welcome. Good to have you. Where do you guys live? Toledo, Ohio. Oh, wow. Fun. Welcome to Nashville. Thanks for having us. Hey guys, how are you? Good, how are you? Welcome, welcome. Good to have you. Where do you guys live? Toledo, Ohio. Oh wow, fun. Welcome to Nashville. Thanks for having us. And all the way down here to do a debt-free scream. Yes. Love it. How much have you paid off? $131,128.08. Way to go. And how long did this take? About three and a half years. Very good. Very good. And your range of income during that three and a half years?

We started $130,000, ended at $150,000 plus bonuses. Cool. What do you all do? I am an RN, and I am a clinic manager of an outpatient dialysis clinic. And I own a restaurant up there in Toledo. Very cool. Good for you guys. So what kind of debt was this $131,000?

The bulk of it was my student loans, personal loans, a Jeep, credit cards. So you all were like normal. Yeah. Just normal people. How long have you been married? Going on seven years. Okay, cool. So you're just kind of bopping along. Everything like normal. Yeah. Just normal people. How long have you been married? Going on seven years. Okay, cool. So you're just kind of bopping along.

Everything's good. And then what happened three and a half years ago? Honestly, I was pregnant with our second son, and I was just sitting at the counter. My friend came over just to visit, and she just said, Oh, so I read this book, and she had equal, similar student loan debt. And she goes in, we're on track to be debt free. And I said, okay. I ordered it on Amazon.

It took me two nap times to read it. I told Tavis about it and he was just like, okay. Yeah. So I wasn't super on board at first i mean we had a lot we had there's probably many stories out there like this and hopefully i can relate to one but um i'm just like yeah okay we paid off another bill that's great but i i was that guy i'm that free spirit you know i want to go out there and i want to spend the money and i i want to buy her things that she didn't necessarily need. So I'm putting things on credit cards, but she's paying things off.

I'm like, dude, another bill in the mail? Come on. So about a year and a half ago, a little over a year ago, I was very, you know, sit down. We had a conversation about it. Don't put things on credit cards. And I stopped, and we had a conversation. Hey, we want to be millionaires, everyday millionaires. So most of our debt was actually paid off in the last nine months.

Wow. Yeah, that's when he finally got on. Yeah, you were kind of just treading water until then. You were paying it off as fast as – he's digging the hole faster. You're filling it in, yeah. Yeah. And then all of a sudden, when he kicks in, the two of you together, you can do anything, right? Yep.

Anything together, yeah. So what was your biggest thing you learned in the last three and a half years of working on this? Listen to your wife. Right. Seven years in, he still hasn't learned. Two years sooner, yeah. Right. Communication is key, though.

I tell you what, if you're not on board and you're not doing it together, then you're not doing it. No. It's very difficult to make the math work when you're not pulling together. Yeah. It was one step forward, two steps back for a year and a half. Or two forward and one back, but it's still slow. Yeah. Yeah.

But it just changes everything when you're working together. The dynamic, the relationship, the math, everything changes. Yeah. And you get done fast. I mean, you got done fast once you both jumped on. That's very good. Very well done. So what do you tell people the key is?

Communication. What else? Cash. Cash. What do you mean? Cash. Use cash. Even with the debit card, we found ourselves still like, oh, we know there's money in the bank.

Swipe, swipe, swipe. And I'm going on the EveryDollar app like, oh, something else from Kroger, something else from Target, something else. You know, but. So the envelope system really helped you then. Oh, my gosh, yes. That's awesome. Just cash. That's amazing.

Yep. And Facebook garage sale. Oh, really? Sold everything but the kids. Oh, cool. Literally. Every time he came home from work, he's like, you sold my whatever?

Yep. Sure did. You don't need a sound bar. You haven't touched it in seven years. Exactly. It was in a closet. We didn't need it. Absolutely. Congratulations, you guys. Thank you. Thank you. Now that you did this, how does it feel? It feels great.

Was it worth it? Yes. Heck yeah. Because you sacrificed. I mean, you sold stuff. You've scratched and clawed. You've done it. I mean, this is pretty impressive.

Yeah. Very, very good numbers. Well done. Proud of you. Thank you. Very proud of you. The kids are even on board. We had a garage sale this past weekend, and everyone who came in the garage was like,

do you want to buy this? Do you want to buy this? Do you want to buy this? They turned into garage sale sales people oh yeah i love it you can't say no to their cute faces very good we got a copy of chris hogan's book for you i retire not returns but everyday millionaires and uh that is what your next goal is i heard you say that that's the next chapter in your story there's a reason you got out of debt so that you get to move on and have some wealth and be outrageously generous and do all kinds of fun stuff with it. Very cool.

Good for you guys. All right, Tavis or Tavis? Tavis. Tavis and Leslie. You got it. Toledo, Ohio, $131,000 paid off in three and a half years, making $130,000 to $150,000. Count it down. Let's hear a debt-free scream.

Three, two, one. We're debt-free! Well done! Woo! Love it! Great job, you two. Great job. Very well done. Rachel is in Lansing, you two. Great job. Very well done.

Rachel is in Lansing, Michigan. Hi, Rachel. Welcome to the Dave Ramsey Show. Hi, how are you? Better than I deserve. What's up? Good. So my question is in regards to selling a small business.

My husband and his partner are looking at selling their business, and they'll be closing on that at the beginning of July. And we just want to make sure that we are intentional about the income that we make off of that business, and that we put enough aside for taxes, and that we put enough in college savings and retirement and all of those baby steps. So the business is going to sell for just over $500,000, and that will be split 50-50 with my husband and his business partner. Great. Right now, thanks, yeah, we owe $35,000 on student loans, about $2,000 on a vehicle that will be paid off in the next couple of weeks, and then we owe $115,000 on our mortgage.

So what do we do? We've never had this lump sum of money before, and we just want to be intentional about it. Okay, and you're getting it all in cash at the closing? Yes. Good. That's a good thing to do. All right. Have you talked to your tax person about

what your taxes are going to be um not too much yet but we have that on our to-do list yeah i'll do that first like now okay like yesterday do you already have somebody does your taxes yeah okay sit down with them and get an estimate on what you need to set aside because you set that money aside for taxes before we do anything because we don't want to come up short dealing with the KGB, I mean the IRS. So you want to be on board and take care of them. And I assume you guys started the business from scratch, right? Yep, he did straight out of high school.

Okay, and is there a bunch of equipment with the business yeah that um 500 000 is most of the equipment um is included in that um all of that all of that equipment is on a depreciation schedule with your tax person depending on how long you've owned it and how far you've depreciated it down um is going to tell you how much of this $250,000 is a gain. But you should have long-term capital gains of 15% on whatever the difference in $250,000 and what the depreciated schedule on that equipment is. And so it sounds like it might be really heavy. So you might only have a $15,000 or a $20,000 tax bill. That's possible.

Okay. Okay. So we'll call it $50,000 for the fun of it, which leaves you $15,000 or a $20,000 tax bill. That's possible. Okay. Okay. So we'll call it $50,000 for the fun of it, which leaves you $200,000, which leaves you enough to pay off your house and all your debt, right? Right. Okay. And put an emergency fund aside of three to six months of expenses. What's your husband going to do for a living now?

That's a good question. We've talked about investing in real estate. He's pretty handy in regards to that. He's talked about going back to school for construction management. It's not really set in stone. Okay, you need to decide that, too, because the rest of this money is going to be used for whatever that next thing is, probably. Okay, so should we bulk up our three- to six-month emergency fund until that's decided?

Oh, he needs to decide. We're not going to sit around for a year and discuss this. Right. He needs to get on with making... You didn't get $2.5 million. You got $250,000. Okay, he needs to get back to work. Seriously, there's a lot of stuff he can do now.

And this just frees you up. You don't have any bills which is great and what a wonderful thing but let's be very smart about it and keep moving Tony is with us in Atlanta, Georgia. Hi, Tony. Welcome to the Dave Ramsey Show. Hi, Dave. How are you? Better than I deserve.

What's up? I have a question. I have been divorced for like two and a half years. My ex-husband and I still have a credit card debt to been divorced for like two and a half years. My ex-husband and I still have a credit card debt to pay that's in my name. It is in my divorce paperwork that he has to pay it. But I don't know what to do if I have the money to pay off the bill. And like, should I sit and hold on to it or should I make him continue to pay me, like it side by side I don't know what to do once

I have the money to pay the whole entire bill off how much is owed on it right now it's about $8,700 what does he make a year um I don't know he likes to be in and out of jobs all the time so do you think he's going to pay this bill i think he will continue to pay it if it's owed and we're side by side doing it i don't know you're supposed to be paying half of it yes and the court ruling was that he can take 20 years to pay it off? There was no time limit on paying it off. We had originally agreed by our math at the time that it would be paid off in October of this year. But he's lost a job, gotten a new job, had to take a break. Like, I know there will always be a crisis coming for him.

Yeah. And what do you make um last year about 68 000 and i'll probably make maybe 78 000 this year have you got any other debt nope this is the last one okay how many kids have you got? Nine. Okay. Well, the way I answer questions is, what would I do if I woke up in your shoes? Okay? The benefit of waiting on him to maybe someday be responsible, which is something he's never done in his life to date, which would surprise all of us at this point. If that were to actually happen, the only benefit to you is $4,350. Am I right?

Correct. I wouldn't screw with it for $4,000. I'd just pay it off. And then what should I do after? Or what should I tell him? I would ask your attorney if you can set it up as a note for him to pay you. And then when he doesn't pay you, I wouldn't be shocked. Okay.

I would just move on. Sitting around waiting on someone to do something that you know they're not going to do is a long bunch of drama and i wouldn't deal with that for four grand if i were you you can do whatever you want to do but i just i would in other words i would try to get him to pay it i would try to hold him to his feet to the fire but you've given me a real low opinion of him and you have in terms of his ability to stay responsible and follow through on obligations. And so if he does, you and I are both going to be surprised. We are. Okay.

I mean, he's held it up for this long, so I'm like, good run, dude, but I can't run this for another, at this rate, we'd be- I mean, you're going to be tied to this goober for another three years screwing around for four thousand dollars you know i'd get it out of my life now before you do let's try to get him to tie you know call your attorney and ask your attorney if you can get him to sign a note for it because you're just going to pay it off it's in your name anyway if he doesn't pay it you got to pay it right so you might as well just be done with it done with him and then if he happens to send you a check we'll all just act shocked and so let's go with that hey thanks for the call carol is in topeka kansas hey carol welcome to the dave ramsey show thanks dave how are you better than i

deserve what's up well i am in baby step two I just finished the FPU course about two weeks ago and I'm running at a gazelle pace and I've got a very tight budget. So my question for you is, I have two nieces who are getting married and one lives in Little Rock, Arkansas and the other one lives in Georgetown, Texas and they're, like, a month apart from each other, and this is happening, like, next month and the following month. And I guess my question to you is if I'm trying to get out of debt, like, is it wise for me to be taking, like, trips? Well, I mean, you got a car right yes and um i assume you could stay with your sister or your

brother right well at one of the weddings um we have to actually get lodging so i have to get a hotel for that the other one um i get to stay with my sister okay all right i mean all you're talking about is a tank of gas aren't you yeah i mean i'm looking at it as with both weddings being about three hundred dollars to travel down there to each one about for about 100 i don't know maybe 150 each i guess i'm thinking kind of maybe high but yeah what do make? Just under $50,000. Okay. All right. Well, that doesn't kill me if my niece is getting married.

I mean, you're not flying to Brazil. You're driving to Kentucky. Right. You know? It's probably not even going to be as much as you're talking about. I would just tell everybody you've got to have some help doing it on the Jeep. And, you know, my presence is going to be your gift uh that and a nice card um you know you know what i want to give them i want to give them fpu like i think that's such a good gift like i think that you can like

wait a year you know what i mean like so i don't have to get them the gift right away but that's what i want to get them is your class that's nice yeah i'll tell you what i'll give you i'll give you two you give each one of them one as a gift from i'll give it to you and then you give it to them are you serious i'm dead serious yeah but yeah i would buy a tank of gas i don't think a tank of gas keeps you out kicks you off your baby step too and the other reason i don't think it kicks you off your baby step too is you bothered to ask about it yeah you just thought you didn't just go oh i gotta do this you know which tells me you are really focused you're really gazelle intense you're really pinching every little dollar and um and then you just scrape together some money and buy a couple

tanks of gas and you know um stay at the cheapest possible hotel and whatever or find out maybe there's maybe there's a cousin that's got a house they're renting for the week, and at the other place they'll let you bank up in the hallway with your sleeping bag or something. I don't know. But, I mean, whatever. Just go on the cheap like you're a college kid or something and try to work it out. But you don't need to spend a ton of money to do this. But that's the good news.

And so for that reason i would do it but just keep it on the cheap and you don't need to be you're not the rich aunt you're you're just not yet you will be you're on your way hang on i'll have madison pick up and we'll sign both of them up as our wedding gift from you for financial peace university open phones at 888-825-5225 christina is on twitter dave i'm about to buy a new car should i get the extended warranty you shouldn't buy the new car new cars go down in value 60 to 70 percent of their value they lose 60 70 percent of their value in the first four years you own them you're turning thirty thousand dollars into eleven thousand dollars in three to four years

you should not buy a brand new car unless you have at least a one million dollar net worth if you're an everyday millionaire or beyond then if you want to buy a new car that's fine if you simply mean you're going to get a different car, but it is a used car and you're asking about an extended warranty, never buy an extended warranty ever. I do not buy extended warranties on anything. The reason is, is there about 87% profit. There are only 10 or 12% of what you spend on them is actually statistically taking care of the probability of the breakdown. They're a high-profit, high-marketing item for the car dealer, for Best Buy, for whoever it is that's selling the extended warranty.

They make all their money on that crap. Stay away from them and make sure you have an emergency fund to cover your repairs on a car and if you will self-insure through repairs on items instead of buying extended warranties you will end up with a lot more money at the end of your life because it doesn't cost anywhere near to repair or throw the thing away that it does to cover it with an extended warranty. So, no new cars unless you're a millionaire. If you're a millionaire, that's fine.

You can afford to take the hit. But even when I buy a brand new car, I take a hit. I can afford it, but I take a hit. That puts this hour of the Dave Ramsey Show in the books. Hey, guys, it's Blake Thompson, senior executive producer for The Dave Ramsey Show. This hour is over, but you can find more great content on our YouTube channel. Catch the most watched Dave Rants, debt-frees, and the very popular Everyday Millionaire segment. Go to the Dave Rantz Show YouTube channel and click subscribe.