The Ramsey Show - App - DAVE RANT: Business Requires a Predictable Environment (Hour 2)

Episode Date: July 2, 2020

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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. Ken Coleman, Ramsey personality, is my co-host today here on the Dave Ramsey Show. Open phones at 888-825-5225. So, Ken, when mankind decided to become what we call civilized, and a good example of that that everyone can relate to is when the wild, wild west was settled, it was anarchy.

It was chaos. Whoever could draw a gun the fastest ruled the street and would take whatever you had that you thought was yours and take it for themselves. The strongest, biggest, meanest, most violent were the only ones that prospered. Then Wyatt Earp comes to town and says no we're gonna remember the phrase clean this town up and instead of chaos order ensued and then is the only time that commerce can occur you know what I'm talking about yeah the economy boomed when Wyatt Earp and of course we love I love the movie Tombstone they come they clean up, and all of a sudden families want to move in, businesses want to build and expand,

and now order allows for commerce and life to take place. There's no question about it. Chaos is not a place that business people go. No. They flee. And the reason is business requires a predictable environment. You cannot say, I'm going to save up thirty thousand dollars over the next five years to open a hardware store and then someone come kick the door in and take all my stuff and

everybody stand around and go that's okay yeah and so the net result is that where commerce can commerce can occur people can build lives only in predictable environments. And the phrase has been co-opted, but it's order versus chaos, and it's law versus lawlessness, thus law and order. Now, law and order sounds like some big mean guy in a military suit or something to some people, but it just means that there's a rule of law where people aren't stealing other people's stuff, destroying other people's stuff, killing other people, raping other people, without anybody doing anything about it.

There's a rule of law, and so chaos is pushed out, order comes, commerce can occur. And so we're seeing that with riots, not peaceful protests, but we're seeing that with riots. And we're seeing that with politicians completely out of control, making up every day as they go COVID regulations and basing them on questionable science. These same medical people who six months ago, apparently they don't do math in med school. It's something that doesn't come up much. And so what you've got is you've got some areas of the country where we've had a pretty vanilla, I mean pretty generically predictable environment

that you could go into any city and do business. Now you can't. So I'm sad to announce that we are canceling Smart Conference in Minneapolis this fall. We can't go. Yeah, makes no sense for us to go. Well, it's, I mean, it's downtown at the Target Center in the middle of Minneapolis. The police are defunded. We cannot put our, the people that we love that we're trying to help at risk

because I don't know what I'm going to walk into there. It's scary. I'm scared to go, and so I'm not going to go. I'm scared to do a thing down there. Can you imagine if we had a Ramsey thing, and then there was some big violent thing and somebody got killed or several people got killed or hurt or maimed or some child got harmed and it was because i was there doing a thing that would ruin my life yeah uh emotionally

i couldn't take it yeah because we were there to help yeah and so because it's an unpredictable environment i can't go that's right i can't go to the city of Seattle. You can't open a business in Seattle right now because you don't know what's going to occur. And that's not a statement of the people that are angry that their anger isn't valid. There's lots of reasons that are valid to be angry. But it's a statement of what has occurred as a result of that you've got leaders uh and there's no law and there's no order and so you don't have a predictable environment commerce cannot occur it's like you know my grandkids were over the other

night and one of them in the playroom took a block and hit the other one in the head you know it's what they always do right and they come they come out screaming. You would have thought the worst. And having a fit, angry and hurt. Right. Angry and hurt. Just melting down four years old, right? Well, you know, so what has to happen? Well, Papa Dave has to say, well, justice is going to occur here. I will take care of the offending block thrower.

But you that are angry and hurt, while you have a valid reason, you got chunked in the head, you have a valid reason for being angry and hurt, you have a valid reason you got chunked in the head you have a valid reason for being angry and hurt you're not going to burn the living room down and you're not going to break Mimi's china because I will bust your little butt okay so in the in the midst of your valid anger your misbehavior is not going to destroy my home I don't know where I get these ideas. I think they're old-fashioned. And I'm probably going, oh, there's a cancel culture thing, right? So I'm probably going to get canceled now because I said these things out loud.

Well, cancel my butt. Have at it. We're good with that. Have at it. Well, you know, you're speaking to me. Because I am not invalidating the reasons for the anger are not valid. I am saying, got chunked in the head with a block you have a right to be angry little little four-year-old but then you cannot melt down and

destroy my house as a result because it's my home i own it i've worked hard for me means china and besides that if i don't bust your butt me me'll bust your butt for breaking her china i'll just tell you that she'll light you up and so there's going to be order there's going to be law and there's going to be justice and there's going to be kindness and there's going to be love and that can only occur in a situation where there's order that's exactly right we love minneapolis it's uh we've been there many times wonderful time in my six years here i don't know of a warmer more electric crowd. Hopefully we'll be back. But the reality is this is the right decision. There's just too much uncertainty because of a lack of authority. You know, the living room illustration is huge. First thing you did was you calmed everything

down. Let's get to the facts. Who's wrong? All right, let's punish the grandchild that hit the other one in the head. But then we're going to make sure that we go, okay, it was good. Go our separate ways. We're going to punish who we need to punish. We're going to make sure that we go okay it was good go our separate rays separate ways we're going to punish who we need to punish we're going to heal and there's going to be some order if you're not involved in that living room who knows what happens now they're all beating up on each other and we've got right and so that's unfortunately what situation we're facing uh as the city council voted 12-0 12-0 to defund now Now, it hasn't happened yet. That's got to pass with the citizens of Minneapolis, and I'm anxious to see how that goes. But the reality is we can't be there because we would be endangering the very people that we love to serve, and it's sad.

It's really sad. And on top of that, the event we do is celebratory, which would be tone deaf in the middle of this. To go in there, let's all think positive know you can be what you want to be that's about a dumb butt message in the middle of that you know i'm not going to do that yeah and so which is a true message but it's tone deaf you know there's a lot of very serious things there that that need this message but we can't be there so i'm sorry guys but those of But those of you that have tickets, we'll be refunding your tickets. You'll be getting an email immediately,

and we'll let you have your money back as soon as we can get your orders processed. It'll probably take a month or so to get all those processed, but we'll get an email out to you this week. But that's the case. And some of these cities, I'm just not going to your city until your city can behave. And it's not punishment. It's I'm scared. I'm afraid of the way your politicians are going to act or whatever.

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Zander Insurance. They even cover your kids for free who are prime targets for id thieves don't wait until it's too late that's 800-356-4282 or zander.com this hour of the day ramsey show by co-host is Ramsey personality, Ken Coleman, host of the Ken Coleman Show. You can hear him on SiriusXM, my podcast, YouTube, and 50 radio stations, just to mention a few places. This is all over the place and answering your questions a couple hours a day about career, about jobs, and about life.

And so we're talking about your life, your money, your business, your career, all that stuff this hour. Your call is at 888-825-5225. John's in Missouri. Hey, John, welcome to the Dave Ramsey Show. Hi, Dave. Hi, Ken. How are you guys today?

Good. How are you? Great. How can we help? Well, I'm currently following the Dave Ramsey program. I'm on Baby Step 2. I've got about $60,000 left to pay. I've been working on that for about a year.

Good. And I'm wanting some help with working the Baby Steps and also trying to follow Ken's program. I have a proximity principle, and I'm wanting to find my sweet spot. I've worked a lot of different jobs, and there have just been jobs that haven't really been anything I've been passionate about. Cool. So what do you make now? My take-home is about $18,000 to $20,000 a year. Okay. All right. And let's start with, before we try to figure out that sweet spot, you've listened to the show enough to mention it that way. Do you have any sense of something that you would do if there were no challenges, no money issues, you'd just go do this?

Something you've always wondered about. What comes to mind? Well, I really love helping people and solving problems. What kind of problems? Tell me more. What kind of problems would you love to get up and solve all day long? Well, I think from listening to Dave a lot, I want to have people with money. Okay.

I made some poor decisions in life with finances, including student loans and debt, and I want to help people avoid that problem as much as possible. All right, great. So this is a wonderful clue here, and it's really answering the question in what is my mission, the result of my work. So you want to help people with money problems, and so the question becomes, do you feel like you would rather help them on the coaching side of things, financial coaching or investing? Dive into that a little bit more. What would that look like day to day? How would you be doing that? What's the solution that you're

excited about providing to those people with money problems? Probably more on the coaching side. I mean, I'm a pretty good communicator. Most of my friends say that. I always love public speaking. Did some speeches and stuff in uh high school and i really like getting up in front of people and talking and helping people through advice and things like that have you ever coached a vice giver you ever coached at all even if it's for your kids or in some environment where you were some type of coach uh no i haven't tried that yet yeah Yeah. All right. Well, you know, listen, the communication skills, so we look at talent, passion, mission, they have to intersect. So what you do best and

what you love to do and the results that matter to you most, they come together. And the financial coach certainly can be that. And I think what you've got to do is I'd like to see you, your homework assignment is to, you need to talk to somebody who's a successful financial coach. I want you to call our team, our financial coach master training. I want you to kick the tires, learn about the program itself. It's a wonderful program, and it's going to teach you how to be a coach, and then it'll help you build that business. Because this is going to be a side hustle. Now, you're not making a ton of money right now, but you're going to have to build this.

You don't just say, well, I'm now trained as a financial coach, and then everybody shows up at your door. This is very much an entrepreneurial journey, and so you're going to have to build this one customer at a time by really coaching. But what I want you to do before you go this direction is what I call clarify and verify. You talk to people that are actual successful financial coaches, and here's what you're asking. How'd you get to where you are in your business, to where you're successful? Ideally, they're full-time or on the path to becoming full-time. How'd you get there?

And then tell me what it's like day-to-day. When you're coaching people, what's it like? You need to really clarify what that role entails. And then the verify will take place. Your heart will verify, yes, I want to do this, or no, it's not what I thought it was. That's not the play. And so that's what you have to do to really confirm, and that's the stage one of my seven stages to significance. It's getting clear. next stage is get qualified and our financial coach master training will qualify you and while you're getting qualified you're in stage three as well which is getting connected beginning to tell people hey i'm coming this direction i'm going to be offering my financial coaching services if you need help you're beginning to talk to people who've been successful in it again to

see how they launch their business so that's that's the path if in fact dave that he feels like yep financial coaching is the direction i want to go. Or if there is another type of coaching that you can get involved in. That's right. And if you could land a position somewhere, all it would have to pay is what you're making now or more. And you can make that while you're in baby step two, because as long as you're not taking a step back in income in baby step two, you're fine. You're heading in the right direction. Cody's in Utah. Hi, Cody.

Welcome to the Dave Ramsey Show. Gentlemen, it's a pleasure to talk to you guys. You too. What's up? Just had a quick question. I've only been listening to you guys for a few months now. I had a friend, Brian, in Washington that led me on to you guys, so I appreciate that from him. Me and my wife, I'm 25, she's 23. We have been trying to have a kid for a couple of years now, and we just found out a couple months ago that we're pregnant.

Yay! That's awesome. Yeah, so I'm excited but terrified, just exactly how I feel right now talking to you guys. That's how you should be. Not from us, but from Matt being a dad. That's normal. Absolutely. So I wanted to share with you guys our financial position right now and get your advice on how to kind of attack the debt that we have

and just any of your other fatherly advice. So I make $30,000. My wife makes $40,000 currently. I'm actually changing jobs to where I could start a career in insurance with health insurance, and I'll be making anywhere between $70,000 to $100,000 by myself, and that starts in August. How much debt do you guys have?

Yep, so we have about $8,700 in a car loan. And then we have $130,000 in a home mortgage. Okay. That's all? And then that's all. Yeah. And we've paid off about, we've been really trying to stick by the budget and we've paid off actually $30,000 worth of loans in the last year. And, uh, so what's your question? So my question is, because I've, I've listened to a little bit and I know like when you were planning on having a baby, you say stop. So we currently have about 7,000 in checkings, 2,500 in savings, and then 5,000 in checkings, $2,500 in savings, and then $5,000 in investments. Write a check and pay the car off. Pay the car off.

Today. You don't want the baby on the way. That's due in December. Today. And with no car payment and your tight budget, between now and December, you're going to have a pile of money. And you're doubling your salary starting August. You're doubling your take-home, both of you together, your money. So you're in really great shape.

Don't even think twice about what Dave said. Do it. Okay. So, like, again, I'm going to be first-time parent. I have not, like, besides the hospital told us, because we're working with, like, midwives and stuff like that, that after insurance we're going to have to pay like $1,400, which to me is not bad for giving birth or whatever, you know, whatever. But I don't know what other costs there are to having a baby after.

I know you're like stockpile, stockpile cash. Like, what other things are you telling people to stockpile cash for? I'm not. You're going to budget the pampers, dude. You're going to budget the formula. Yep, that's right. And you're going to budget the monthly bill to the pediatric're going to budget the formula yeah and you're going to budget the monthly bill to the pediatrician for the first six months it's federal law you have to pay their porsche payment for them and so um the uh you know you're going to you're going

to have some bills out of pocket but you're going to have plenty of money coming in and you'll adjust your budget uh they don't eat much yeah um the jar of carrots doesn't cost much. Yeah, it's not bad. And this idea of children cost so much, yeah, they cost a little bit. It's not that bad. I mean, you don't want to have 73 of them when you have $14,000 income, but, I mean, it's not going to crush your situation. There's not a big stockpile of, not a big tsunami of expenses coming with the baby. Now, you do have to guard against nursery-itis, which is a disease that affects first-time parents, where they spend $14,000 on a bed for a kid that doesn't even sleep.

Right. Nor do they see the wallpaper or all the other things you put in the room. Yeah, it's cute for you and your wife only, or mainly for your wife. So don't overspend on the nursery and all the toys and all the other things you put in the room. Yeah, it's cute for you and your wife only, or mainly for your wife. So don't overspend on the nursery and all the toys and all the other stuff. But other than that, you should not have a tsunami. I think you're going to be just fine. Nurseryitis. I think you just created a real condition.

I've observed it. We should submit that. I've observed it. That's a new word for the year. Well. the year. In the lobby of Ramsey Solutions on the debt-free stage, Mary is with us. Hi, Mary. How are you? Good. How are you, Dave and Ken?

Welcome. Good to have you. And where are you from? I'm from Dublin, Ohio. Oh, good to have you. And all the way here to do a debt-free screen. That's right. How much have you paid off? $49,075. All right. Very good. How long did it take you to do this five years good for you and your range of income during that time it went between 34 000 and 61 000 at its highest wow what do you do for a living um i'm a legal admin for a chemical company but i'm like the

queen of the side hustle ah cool what was your side hustle, the one that made you the best money? Well, currently I resell on eBay, so I've had some pretty good flips on there, like maybe turn $3 into $100. I think that was my best one so far. All right. Good for you. Yeah. Well done.

So what kind of debt was the $50,000? Like just nothing, basically. You know, like Christmas from 94, a hamburger from 2000. It was like nothing that, you know, I could even show you. Okay. So all credit cards or? Credit cards and, you know, lines of credit and just a lot of stupid. Yeah.

Wow. It wasn't even a student loan or a house or anything I could you know even show you so yeah they needed to go yeah well good for you thanks well done what got you started on this five years ago um well I've been listening to you way longer than that but um five years ago I just decided that I was really sick of just working all the time and having nothing to show for it. And then, and now my kids are both in different states and I wanted to be able to go and see them. And I have two grandsons in, you know, in a different state, of course. So I wanted to be able to see them. And at, you know, you, you just, you decide, I finally realizes that,

realize that stuff wasn't as important as experiences. And so I started just basically sell everything, you know, kind of. Good for you. I just started selling things and then I went from there. Very cool. So now that you've done it, how's it feel? It is awesome. I mean, I'll look at my account the day before payday and be like, why is there money?

You know, it just, it isn't even, it doesn't even make sense still. Because, you know, by payday, there were a lot of times I couldn't even, I mean, there was just nothing left, you know, totally paycheck to paycheck. So it's really nice not to be just completely broke all the time. Amen. Amen. so it's it's really nice not to be just completely broke all the time amen amen so when your friends and family find out that you've paid off fifty thousand dollars and they say how'd you do that what do you tell them the key to getting out of debt is i i just worked that that was the budget is a lot of people work what'd you do um i guess i just worked a lot i'm i and i i am i was frugal you know i i cooked um so you adjusted your outgo below your income yes and and and stopped with the credit cards i mean no more credit cards i'm italian so sorry that's okay so you just had to say stop it right right stop the crazy okay all right that's good. So you just had to say, stop it. Right, right. Stop the crazy. Okay. All right.

That's good. Good for you. Very good. And I've always done everything kind of backwards in life. You know, I'm like, well, I'll tell you, when I was 18, my first experience with money, and this was how I went along until I discovered you, basically. I had no money at all, and I decided that this closed checking account I had, that for some reason the checks were still okay.

So I went to the grocery store and bought groceries with these checks from this closed account. And then, being the rocket scientist I was, applied for a job at said grocery store. Well store well the owner called me but it was not to offer me a job and i just kind of went downhill from there um and then finally finally i hit it back up okay very cool well good for you i appreciate you turning this around. I'm proud of you, hero. Well, thank you guys for all you do. Who were your biggest cheerleaders? My kids, definitely. Dave, I've got my own Dave over here. Okay.

You know, my family. I got to do a dress rehearsal, death-free scream for one of my sisters and her boyfriend. Love it. And friends. Some people say that people thought they were kind of crazy doing it, but I didn't get any of that. Yeah.

Well, that's good. That's good. Mostly, mostly people encouraging that. Yes. Yeah. Well done.

Thanks. I'm so very, very proud of you. Thank you. Excellent. Excellent job. All right, Mary,

we got a copy of Chris Hogan's book for you. Everyday millionaires. We want that to be the next chapter in your story where you go on to be a millionaire now. And you can do that. That's very possible now that you know how to control money and make this behave. $50,000 paid off in five years. Mary from Dublin, Ohio, count it down. Let's hear a debt-free scream.

Three, two, one. I'm debt-free! Yeah! Yeah! Debt-free scream. Three, two, one. I'm debt-free. Yeah. Yeah. Well done. Very well done. Great job. That's so cool.

It was really interesting. She started off by saying, you know, you asked her what turned it around. She said, I was sick and tired of working so hard and not seeing anything come from it. And then you said, well, what did you do to turn around? She went, I worked really, really hard. There was a shift there. See, working hard, seeing no results of the work, just, she was spinning her wheels stuck in the mud. And then she decided I'm getting out of this. And what did she do? She said she was a side hustle queen. She started working harder than ever. The difference was she saw a clear vision.

She saw a future, a desired future that was worth the work. And I think we can do so much more than we realize when we really have a true why. And she's a great, great example of that. Absolutely. Very well done, Mary. Great job. Great job. Open phones this hour at 888-825-5225.

Our question of the day comes from Blinds.com. Find out for yourself why Blinds.com is the number one online retailer of custom window coverings. You get free samples, free shipping, and with the new promos they run every month, you'll save even more. Use the promo code RAMSEY to get the best deal. Today's question is from Carla in Nevada. She says on DaveRamsey.com, how do I know what I want to do? I've got a master's degree with no luck getting a job in the field of my degree, which is computer science. I'm open to other options as well. I've just been floating around working minimum wage jobs. I thought I had a plan, but I think I lost it along the way. Any advice would be appreciated.

A master's in computer science and you don't land a job of a minimum wage? Yeah. You know, of course, when you get these kind of questions, we're limited with the back and forth. I'd love to know a little bit more here. And there's multiple questions. Now, how do I know what I want to do? Well, that's what we address every day on the Ken Coleman Show. And we figure out what it is that we were created to do by identifying our unique role. Well, how do you do that? Well, for those of you that are listening and going, hey, I'm the same way, you can go to kencoleman.com. And we have the Career Clarity Guide, which will walk you through the three indicators in the first stage to significance.

And that is getting clear. What do you do best? Hard skills, soft skills. That's talent getting clear. What do you do best? Hard skills, soft skills. That's talent. What work do you love to do? This is something you have high emotion and devotion for. And then third, what results of your work matter deeply to you? That's mission, talent, passion, mission. When they intersect, that's where your sweet spot is. When people look at you and say, you were born for this. You were created to do this. And they marvel at the work that you do and how you go about doing it.

Now, this other question in here is, I've just been floating around. You know, she needs to actually get serious about connecting with people in the field. This is why we wrote the proximity principle. Get around people that are doing computer science. Get in places where that's happening. Because here's what happens, Dave. The right people plus the right places is a formula that equals opportunity. You have a master's

degree in computer science. You should be making more than minimum wage at an entry-level job in something in technology. That's right. There's something really screwy about this. I'd love to know what's going on behind the question and what her track record has been, how she's interviewing.

Is she just submitting cold resumes, or is she really working her web of connections? Before I work minimum wage, I've got to work for somebody for free in the field that got me a job. And, again, that's proximity. That will get you connections to the right people who will say, hey, here are some more right people, or here are some places. And so that's what she needs to do. She needs to get busy. Love it. This is The Dave Ramsey Show. Thank you. aaron is with us in alaska hi aaron. How are you? Pretty good.

It's wonderful talking to you guys. You too. How can we help? Well, first of all, I love both of you guys very, very much. But right now, with Ken, I suffer from severe anxiety, and I get really, really nervous when I'm talking to a whole lot of people, and also for interviewing, and I'm not quite sure how to deal with that. Okay. Well, you know, it's very normal to have a lot of anxiety in an interview. You know, you get weirdos like Dave and I. We love the attention of a big audience and performing,

but most people don't. They fear public performance or public speaking more than death. We know this from data. So, number one, know that there's nothing strange or nothing weird or nothing wrong with you. However, for those who don't enjoy those performances, the key is preparation. Preparation, preparation, preparation. I say that relentless preparation leads to reflexive performance. And what that means is that your brain, Aaron, is a supercomputer.

It was designed by God to perform when you need it to perform. But what you have to do in moments like that is you have to draw on something that is already in the brain. And preparation will lead you where you need it to in times of tremendous pressure. I think of football. I love the game of football and I think of some of the great quarterbacks who were just known under pressure. Joe Montana, Peyton Manning, Tom Brady, Brett Favre, doesn't matter who. And they could lead these two minute or less drives under pressure and just perform as though it was just a practice. Well, that's the key.

They practiced over and over and over. They ran that two-minute drill until they could just do it reflexively. They've been in the film room. They've studied defenses. And so they're prepared. And so that's why we created the How to Win the Interview Guide. It's a free guide at KenColeman.com. It's about 15, 16 pages.

We walk you through step-by-step what to prepare for. That includes what you will be asked, what you should ask. Dave, I really believe the difference maker in an interview is when the candidate has time to ask questions themselves, and they begin to kind of be insightful and ask, hey, tell me about this, and tell me about this, and it really makes you shine. instead of sitting back in a defensive posture and just waiting to field the question. And so in that How to Win the Interview Guide, Aaron, we set you up to be prepared for the type of questions that you're going to get

and then help you think through the questions you need to ask. So that's the point. When you prepare, you will perform. So it's Fourth of July weekend. I'll be teaching little kids 4th of July weekend. I'll be teaching little kids to water ski this weekend. Yeah. You've taught my kids.

It's a known thing. I've taught thousands of people over the years. I love water skiing. I love teaching at our lake house. It's one of my favorite things to do. And we don't just drop people in the water. No. Now, we do full adults. But even full adults, I walk you through, give you a complete thing.

This is what it's going to feel like. This is what it's going to look like. And it's preparation. That's it. And then there's a little bit of repetition. Yeah. And, you know, get a hold of the rope. It's how it's going to feel when the boat starts pulling.

Your body's going to unfold this way. You need to be in a ball, tips up, you know, all this kind of thing. I'll just walk you through it, walk you through it. And that preparation then removes some of the anxiety. The other thing that removes the anxiety is something I can't control this weekend, but it is something, Aaron, you can control, and that is to put this in perspective. People that play in the water and swim in the water all the time are comfortable with the water. They know when they're behind the boat on water skis they're not going to die people who are not comfortable with water and haven't

played in the water a lot their perspective is not only am i maybe not going to get up but i might die you know because i don't swim well that's right i'm scared of water and i'm in the water doing water skiing no question and so you can prepare all you want and if you in the water doing water skiing. No question. And so you can prepare all you want, and if you have the wrong perspective, like this is life or death, you're still going to be nervous. Right. So the thing you've got to back up and go is, if these people don't hire me, there's 73 million other people for me to talk to. That's true.

Yeah, it's not life or death. That's a very good point. And just allow your brain to do what it was designed to do, which is it's a supercomputer. And you practice. You get those grooves in your brain for reps. That's right. And you back up and you say, if this one doesn't work, try another one. This one doesn't work, try another one.

You're not a heart surgeon here that you're about to lose a patient. Yeah. This is a simple thing. It's an experiment. And if this experiment this is a simple thing it's an experiment and if this experiment doesn't work i'll do another experiment yeah and then i'll do another experiment it's a great great thought because that's what the quarterbacks are doing they're not thinking in that moment they're going we want to win the game doing everything can win the game if you don't win the game it's not the end of my life it's not the end of our season it's not the

end of my career it doesn't mean i don't get in the hall of fame yeah they're not over one game doesn't do it yeah and that one drop ball that's across the middle doesn't shut the two minute drill down and it doesn't end my career it reminds me of your son-in-law bill who is just a fantastic guide one of the few people that's ever made it to division one quarterback level you got to tell the story first time he goes out as a front was his first game he throws the interceptions yeah he threw two interceptions three interceptions in a row. Yeah, and it's like, you know, did he quit being a quarterback? No.

The coach comes over and goes, you know, throw one more, and then you'll break my record, right? Right, right. And so, you know, you're going to make mistakes. That's right. You're going to make mistakes. And he did go back in and ran for a touchdown because he's a scramble quarterback. But, you know, you're going to find a way around this

and its perspective and its preparation. And go to kingcolman.com and download that stuff. It'll really help. Download that interview guide. It'll help a bunch. Sam is in Arizona. Hi, Sam. Welcome to the Dave Ramsey Show.

Hi. Thank you for taking my call. Sure. How can we help? So I have been in my industry for 20 years. I'm in travel. I'm 17 with the same company. Obviously, right now, that's one of the industries that's been the hardest hit with the COVID virus.

A vast majority of our company was placed on furlough back in April. So, we've been unemployed since then. We just been advised to extend furloughs, but they're also offering some potential severance packages, voluntary severance packages that are better than you would get if you wait till they let you go. I'm trying to figure out the best route for me to do for my family. How much are they offering you? Probably not going to get back in the same industry.

Oh, you're not. Okay. How much are they offering you? Three weeks worth of my pay. Three weeks? Thirty. Three zero. Oh, 30 weeks. 30 weeks. I feel better already.

Okay. Plus they're offering to cover insurance for a few months after that, help cover the COBRA. So what are you going to do with your life? That's what I don't know. I've been doing this for 20 years. I love the industry. I love doing it.

I don't know what I would do. Okay, so let's ask this question. If we had not run into COVID, would you be thinking about leaving the travel industry or would you be staying? Oh, I'd definitely be staying. The company is a great company. I've been there a long time. I love the industry.

I would not be looking to leave. Okay, so this is important. This is really important that you pause here and go, all right, times are tough financially. I'm curious to know what Dave's going to say here, so I'm going to get us started. The travel industry is coming back, okay? I can't tell you when. I would be foolish to try to predict what that's going to look like and how, and obviously I don't know the details and the intricacies of your particular company.

But have you been told that, hey, there's a good chance, or do you have a good gut feeling that you are going to be officially let go completely, not just furloughed? What are the chances of that happening? We don't know. The reason they've offered this and a few other programs is because they don't want to if they don't have to. But, I mean, we've lost a vast majority of our business. And like you said, no one knows when it's going to bounce back.

I try to weather the storm. I personally try to weather the storm. Now, there's a couple ways to do that. You know, do you go get a day job or two just to kind of ease the financial pressure and wait and see what happens? Or do you just step out right now to something else that's more of a full-time play, but then with the eye on, I'm going to step back in when the travel industry heats back up. But changing gears and careers, I don't think that's what I'm hearing. I think you love the travel industry.

It's what it sounds like to me. You like it. And it sounds like that you're worried if you don't take this package that you're going to get a lesser package crammed down your throat later. But you're probably going to stay in the business anyway. And so even if you change companies. So I'm kind of with Ken. I think I'm going to ride it out. 30 weeks is good.

That's six months. That's a generous offer. But if you think this company is going to be around and you think travel is going to rebound and you can weather the storm, I'd weather it. I'm with Ken. Ken Coleman, thanks for hanging out. Thanks for having me. That puts us out of the Dave Ramsey Show in the books.

This is James Childs, producer of the Dave Ramsey Show. On your smart speaker, you can add our skill by saying, Alexa, open the Ramsey Network skill. From there, you can listen to all our shows. Ask Dave money questions like, how do I invest my money? Or what is the debt snowball? Thanks for watching.