The Ramsey Show - App - DAVE RANT: You're Not Stuck—Just Change! (Hour 3)

Episode Date: June 3, 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 am Dave Ramsey, your host. Thanks for joining us. Open phones at 888-825-5225. You jump in. We'll talk about your life and your money.

DeMarcus is with us in Chicago. Hey, DeMarcus, how are you? I'm doing fine, Dave. How about yourself? Better than I deserve, sir. How can I help? Right now, I am 21 years old. I'm doing fine, Dave. How about yourself? Better than I deserve, sir. How can I help? Right now, I am 21 years old.

My fiance right now is carrying our child. She's seven months pregnant. You know, I grew up in a very rural neighborhood, and right now me and my fiance have no debt, and we're looking to keep it like that. And right now I'm trying to find some type of guidance or some type of way I can financially be set up for my child because I refuse to have my child live the life that I've done or live the life that I've lived as far as financial, you know, peace or some type of way that I can make sure my child has a very good life. Good man.

That's a good question from a good guy. Thank you. So what do you do for a living? Right now I work in a steel factory. Okay. And what's your income? Right now I make roughly $ 35 a year okay what about her does she work outside the home um she did but right now i told her you know to take a leave off

on take work off in the farm for the pregnancy so when she goes back to work after baby's home and ever go through about 15 000 how much 15 000 so equal50,000 a year. Wow, you know, $50,000 a year with the both of us. Okay. All right. Well, the good news is that there's two sides to the equation, not 16. There's the income side and the outgo side, and we work on both of those. Working on the income side is working on your long-term career, and that's saying I'm 21 years old.

When I'm 41, what do I want to be doing with my career, and what will I be making? Because that's part of the answer to the question of how do I take care of my kid, right? Yes, sir. Okay. And then the other part of the equation is how do we take care of the outgo side, and there's really only three or four things, and then a lot of complication within those three or four things that you need to do, and I'll help you do that, okay?

The first one is we're going to get on a written budget. I'm making every dollar behave. Every dollar has an assignment, and you can use the app that is free for your phone or your computer, or both, called EveryDollar. It's free. We built it, and it takes about 10 minutes to set up your budget. You and your fiancé can called EveryDollar. It's free. We built it. And it takes about 10 minutes to set up your budget. You and your fiancé can go over it together.

Okay? The second thing is then that you avoid debt like it was trying to kill your family because it is. All of the data that we have from millionaires, people that start with nothing, a lot of them started very poor and became millionaires they avoided debt because when you give other people your money in the form of car payments student loan payments mastercard payments you you don't have the money anymore and if you give it to them and you don't have it anymore, you can't use it to become wealthy with called investing. Right?

Yes, sir. So you have to stay out of debt. You have to stay on a plan. We're going to save and invest. Our first savings element is to build an emergency fund, a rainy day fund, because as you'll quickly find with little kids and young marriages, sometimes it rains and you need an umbrella. Yeah, right now I currently have $2,500 so far in my emergency fund. Good. Marriages, sometimes it rains and you need an umbrella. Yeah, right now I currently have 2,500 so far in my emergency fund. Good.

You're moving in the right direction then. Okay. And then let me think here. You know, you start your investing. You always want to have giving be part of your equation. Yeah. of giving be part of your equation for me when i was your age um it wasn't long after that that we had our first kid in my early 20s denise who's now in her 30s um a big part of me being able to provide for my family was i got really really really plugged into a great church and my walk with god changed the man that i am and made me into a better daddy and a better husband than I would have been otherwise.

And so I'll put that on my list of suggestions for you to look at because it teaches you the character parts, the value system parts of being a great dad. So you said fiancé and seven months pregnant. When's the wedding? Yeah, we're not going to have a wedding. All the money is just going to be for our bank account. You know, we're not slashing. We don't need a wedding.

When's the wedding? When we're financially able to. Okay. So right now we don't have a certain time for that. All right. Again, you made the mistake of asking my suggestions, so I'm going to give them. Here's what I would do if I woke up in your shoes. You get to do whatever you want.

You're a grown man, okay? Right. But if I woke up in your shoes, I would would get married and i would have the reset now immediately and i would have the reception sometime later and when i when i have the money for a big party and and celebrate the marriage later um because you've already made all those other decisions here's why uh i would do that there's a couple reasons i would do that. There's a couple of reasons I would do that, but here's why. There's a thing in research on families that says this. If you marry before having a child and you have that child after age 20 and you graduate from high school, you have an almost 0% chance of the child being raised in poverty. Isn't that interesting? Yes, sir. percent chance of the child being raised in poverty isn't that interesting yes 97 percent

who follow that success sequence earn a high school diploma work and marry before having children will not be poor as they enter their 30s and that's called the success sequence which is married have a kid be working get married have a kid start your life. And you have the opportunity to put that in the right order. I don't know that it matters a whole lot today in your situation, but if I were in your shoes, I would go with that 97% statistic. I think it's a big deal. Only 4% of homes with a married mother and father are on food stamps, but 21% of people who live together are.

That's some interesting statistics, okay? I don't think you're heading there, but you called and asked me if I woke up in your shoes at 21. So I'm giving you more advice than just money advice, and you probably got more than you bargained for. But anyway, the last thing I want to do is I want to give the baby a gift, and that's I'm going to put its mommy and daddy through Financial Peace University. I want you guys to go through our class on how to handle money, and I'll show you all of those 93 little details and show you exactly what to do.

So you work on being the man that it sounds like you already are, a good man, worried about and being noble and concerned about your child and being a good husband and work on your spiritual life and work on your career and get your income up over time. And I'll show you how to become wealthy and completely change your family tree and avoid a lot of the pitfalls and potholes that are out there. Financial Peace University is a one-year membership. You go to a local group and take nine different lessons,

and the whole thing is also accessible online. Oh, and that gives you every dollar plus, which is connectivity to your bank for a year as well. So you hold on. All of that is my gift to your baby. That's my opinion. You asked it, and I'm an expert on my opinion. 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. Travis is with us in Chapel Hill. Hey, Travis.

Welcome to the Dave Ramsey Show. Hey, Dave. Thank you for taking Ramsey Show. Hey, Dave. Thank you for taking my call. Sure. What's up? I have a question. My wife and I are looking to buy a new house. Currently, I'm driving an hour to work, and we don't live in the best of neighborhoods.

We currently have a two-year-old child. So when we purchased our first property, it was kind of just a house for us. But now that she's going to be starting a school in a couple of years, we want to go ahead and prepare for that. So you would move closer to work and in a better school district? Correct. Okay. Got it. My wife's only driving 10 minutes right now. So we're kind of working somewhere in the middle where it's equal distance. We currently have $60,000 of student loan debt. Okay.

What's your household income? $110,000. Okay. Very good. Great income. How old are you guys? I'm 34, and she's 30. Perfect.

Very good. Well, it depends on what your goals are as to what you do, okay? If your goal is to build wealth, which is what the assumption I always make is in this process, not at the expense of everything and not at the expense of being completely outrageous, but if your goal is to build wealth, you follow the data points and the processes of people who have actually built wealth, not people who are broke and have opinions about money. Okay?

Correct. And so what we have found is two things that show up in your conversation with the millionaires that we have studied. One is the millionaires typically get their home paid off in an average of 10.2 years. And from the time they start their financial plan. Now, some of them started at 30, some of them started at 25, some of them started at 40. But from the time they started, they paid off their house in about 10, 11 years, something like that. And that's why we put folks on a 15-year fixed and have Baby Step 6,

where you throw everything extra at the house once you get to Baby Step 6. And that should get you there. The second thing is that we have found that they avoid, they get out of debt and they avoid debt of all kinds other than that mortgage that they pay off very quickly. Okay? Because the debt is a barrier between you and your ability to build wealth. So, having said all of that, then,

what does that lead me to tell you in your situation? If I woke up in your shoes, I would move now. I would sell your house, and I would move to the area that's going to be the area you want to live in, and I would rent. Okay. And I would pay off that student loan. What's your home worth? It's worth $140,000.

We owe about $70,000 on it. 000 on it oh ding ding you're out of debt correct if you rent ouch correct uh we he's thinking to himself how am i going to sell my wife on this yeah this is the right this is the shortest path, okay? The Ramseys did it. We moved for school districts, sold our home and rented for two years. It was very difficult emotionally. I come from a real estate family, and I've owned rental property most of my adult life as a landlord. So the idea that I was a renter just about drove me into the padded cell, baby.

But I did it for two years because it was the right thing to do to get on solid foundation it's not going to take you even two years it's going to take you about a year so you build your emergency fund of three to six months of expenses you build your down payment and a year later you buy your house but you rent something cheap and inexpensive and this is an adventure and then you're doing this the wise way. And if you want to do it another way, you can, but the data tells us, and my 30 years of doing this, coaching people on how to become wealthy, tells me as well that the shortest distance between two points is a straight line, and that's avoiding debt and setting yourself to be in a position to pay off your home

in about 10 to 11 years. And that's going to put you on track to you should reach millionaire status in about 14 years from where you are right now. And that's with no raises. If your income goes up dramatically, you probably make it in about a decade, about the time your house has paid off. But if you keep the student loan around like it's a freaking pet, you're going to limp along and you're going to be a normal broke American that bought a house and kept your wife happy. So that's what you've got to be careful. You've got to be careful.

Live like no one else so later you can live and give like no one else. Julie's in St. Louis, Missouri. Hey, Julie, how are you? Good. How are you, Dave? Better than I deserve. What's up? So we are just starting Baby Step 1.

We have about $120,000 in debt. And before we started, I was planning to go back to school. Previously, I was a teacher. Currently, I have my own in-home daycare, but I don't want to go back to teaching. So I was going to go to school to be a radiation therapist, which would increase my salary. But now that we're starting with steps, I'm thinking maybe I should wait to go back to school. So what is your household income? Before taxes or anything, we're at about $70,000 right now combined. And what is the $120,000 in debt on? I've got $84,000 in student

loans. Yeah. $17,000 on a van that we bought. $17,000 in credit cards, and then there's about $1,500 to $2,000 in medical bills. Okay. If I'm wrong, you tell me, but I kind of think you're going to be a radiation therapist because you just want to make more money. Well, my original plan was I wanted to get into something in the medical field. How old are you? I'm 34. When you're 54, what do you want to be doing for a career? For a career? You do anything you want to do.

It's America. Travel the world? No, I said your career, not your leisure. What do you want to be doing to earn money that is going to pay you really good money and that you get up every morning smiling because you get to go do that, not got to go do that? I mean, honestly, I'd like to do something where I was the boss. You'd like to run your own small business? Possibly. Any idea in what field not really okay i want you to explore that a little more and not waste your money on radiation

school okay because it's not what you want to do yeah you just picked out something you thought you could get a job in and make money, and you decide you didn't like teaching. Yeah. And so I want you to have a bigger view, a more noble view of your life, and let that inform what classes you need to take. Okay. I'm going to send you a copy of Christy Wright's business boutique book, Equipping Women to Make Money Doing What They Love,

because it very well might be that you should spend the money you're getting ready to spend on radiation school on setting up and starting your small business idea that's not a daycare. Okay. I don't know what it is, but I want you to spend a little bit more time and effort on this than you have in that old bucket of soul searching, searching down in your soul, talking to your husband and say, what would you see me doing that I came home every day smiling because I was doing it? Okay.

You know, and that's really, that's by the way where you're going to make the most money because you're going to be the most energetic, have the most passion, have the most creativity around something you actually like. Now, in the short term, daycare is not making you any money. No. Like now in the short term, daycare is not making you any money. No, I might go back to school teaching for two years as step one to get to do my dream job. And because I can make more money and get our house out, hold out of debt faster. Okay. Just knowing that it's only for a two or a three year stint, because the faster I get out of debt, the faster I'm going to have the money to live my dream job, whether it's with new training or starting a business, whatever it is.

But you've got a big weight hanging over your head from the last set of education decisions you made. Right. Yeah, let's talk about cleaning that up, at least be underway cleaning it up, making good money towards cleaning it up while you pursue the next thing and give more thought to pursuing the next thing. Hold on. Kelly's going to give you a copy of that business boutique book. We'd love to have you enjoy that. Check out Christy Wright, everything she's doing. She's a Ramsey personality. It's a number one best-selling book.

Ladies everywhere gravitating to this business boutique movement, equipping women to make money doing what they love. This is the Dave Ramsey Solutions, Rolando and Carmina are with us. Hey guys, how are you? Hi Dave. Welcome, welcome. Where do you guys live?

Provo, Utah. Oh fun. And all the way to Nashville to do a debt-free screen. Yes sir. Congratulations. So how much have you paid off? $86,054.31 Dave. Love it.

How long did that take? It took us two years, nine months, ten days, 1,538 pizza deliveries. Oh, look at that. I love it. And your range of income during that two years and nine months and ten days? It started around $50,000, went upwards to the $90,000, and now that we're past baby step two, it dropped down again to $80,000. Good. What do you guys do for a living?

I work for an early intervention program for Easter Seals Goodwill. Oh, good. And I work as a job coach trainer for a desert industry thrift store. So we use our employee discounts at the thrift stores. Fun. Very good. Good for you. Good for you.

So what kind of debt was the $86,000? I have it all here. It was $4,418 on a car loan, $6,400 on an unsecured loan, $17,500 on credit cards, $18,400 on a 401k loan, and $19,230 that we owed our parents, and lastly, $19,000 on a home equity. And you had every kind of debt possible. Yeah. You had the whole potpourri, man. You had just the whole cornucopia of debt.

Oh, my gosh. Look at you. Well done. Well done. So what happened? How long have you all been married? 15 years. So 15 years. You long have you all been married? 15 years. So 15 years, you're bopping along, you're normal, got yourself in debt.

All you do is just work and pay bills, just work and pay bills. And so something happens two years and nine months ago, and you went, no, no, no, no, no, something's about to change here. What happened? Well, it was two things, Dave. First, we got a house. It was the first time that we had a house, and having a mortgage, you know, that scared me. So I looked up what I can do, and I found the Total Money Makeover book. So I read that. I was real embarrassed because you wrote it for me.

And when we were going to California, I got the audio book from the library, and I told Carmina, look, while we're on the road, I have this audio book we should listen to. And I just looked straight, Dave, because I couldn't look at her. You know, I thought, gosh, she's just going to point at me. She's going to scowl. But, no, she was very, very supportive. So we decided to take FPU. And while we started FPU, my father passed away.

Oh, my gosh. And just when he passed, we weren't ready for it, emotionally, obviously, and financially. And, you know, my dad was a great man, worked hard all his life, but he wasn't ready. And we weren't ready. So when we experienced that, I said, I'm going to make sure that my kids don't have to go through that so in in fpu and we learned about life insurance when we learned about the you know increasing coverage getting the right kind of coverage i was all for it i had to do it wow how old was your dad uh 72 sir and he died of cancer so you guys had to help chip in for the funeral and that kind of stuff, and you didn't have anything to do that with?

We did, my sisters and I. So, you know, we all pitched in. We were able to pay it, but it was really sad, more scary than anything, especially for my mom. We would have preferred for her not to worry about that, but because we were not ready, you know, she had to suffer needlessly. Nothing like that kind of wake-up call to keep things, to get you really, really serious about something. Oh, yes.

Yeah, and hurt your heart. Yes. Wow. So, Carmina, you are driving towards California. This guy has put in, this man of yours has put this audio book on the radio, on the whatever, the cassette or whatever it is. It's not cassette, but it's coming over the radio. So you're having to listen to this guy tell you everything y'all have been doing wrong.

What were you thinking? Well, everything that you explain, it just clicks. It's the right thing to do. So it wasn't hard for me to follow and go along with it. It was the right choice. It just felt like it was the right choice. Okay. So you were like, okay, game on.

Yeah. It was that simple. Bring it on. Bring it. Bring on the pain. Yeah. We're going to live like no one else, so later we can live and give like no one else, so that we're not in that position.

We're not in that position when we pass, yeah. Wow, wow. Very cool. What was the hardest part of this journey for you all? Well, on my part, it was not having him at home. He had two jobs. I was working. I was going to school, and I had to take care of the kids. So it was, it was really hard.

But we're, we have been blessed throughout the whole process, even before, before we even heard of you, I got offered a job. I wasn't looking for a job. I got offered a job and throughout the whole process, I've had a raise. So we've had blessings that have come to help us out through this journey. Yeah. Amazing. You guys are holding stuff in your hands. Yes. Tell me what these are and what this is about.

Well, this was all our credit cards that we shredded up during our FPU classes. And we put a map of the world in the back to remind us that one day we'll travel around the world. Oh, I love it. So those are all your personal credit cards? Yes. How many credit cards did you have? Like a lot. Let's not talk about that.

That box is full. Wow. Okay. Well, the good news is the world is right there behind them. That's good. Okay. And what about you, Rolando? I'm holding a little gazelle it's a car

ornament uh whenever i had to deliver a pizza and you know maybe i drove five miles and got a quarter out of it look at the gazelle and say it's all right i'll get it on the next one just keep working hard keep going keep going you know you'll win so thousand pieces who are you delivering pizza for which company uh papa john's Pizza. Papa John's. Yeah. And how many nights a week did you do that? In the beginning, I was doing it, I think, five nights a week. And then with Carmina going to school, it became a little harder, so I scaled it back to three.

But there were some days where I'd go to my first job in the morning at 7, be done there at 4.30, be at Papa John's at 4.45, and work all the way to 1 o'clock. And then on weekends, I started my company. I called it IWOW. I work on weekends. Very original. And if somebody said they needed something, oh, I'll do it. I'll clean your backyard.

Dog poopy. What was the best paying IWAL job you got? Clearing out a backyard of debris. It took a while, but it paid very well. It was actually my mom. So part of me is like, Mom, I don't want to charge you because as your son, I should be doing this for free. But I owed her some money. So I said said you pay me whatever you think is fair and when she paid paid me i take out the money for the tithing and i just gave it right back to her and she said what's this i said you're

my last debt mom so i'm gonna pay you off and she my mom, bless her heart, she wanted to forgive the debt. But part of what I owed her was my dad when he retired, they gave him a bonus. So he never got to enjoy his retirement bonus because they lent it to me. So I just, you know, I said, mom, you can't forgive this because I'll never forgive myself. Just let me pay you back. And whatever you choose to do with it, you know, you want to buy my kids some presents? Awesome. You know, but let me pay you back, and whatever you choose to do with it. You want to buy my kids some presents? Awesome. But let me have the satisfaction of giving this back to you. And when I did, it was a joyful moment.

I love it. Well done. Well done. And you brought the kiddos with you, and their names and ages are what? Yes. So we have Seth, my big boy. He's 14 years old. Danielle, my princess.

Here they are. She's 11 and jared jedi my little guy with the curly hair i love it he's uh nine years old all right very cool i'm sorry well we've got a copy of chris hogan's retire inspired book for you that's the next chapter in your story for sure and that's to be millionaires and outrageously generous along the way you'll be calling in on an everyday millionaire's hour one of these days. Dave, can I say one more thing? Yes, sir. It's just along with learning how to talk about finances,

you also help us communicate about other things. Because I was so far away, I wasn't communicating with my wife. And just talking about money helped us be able to talk to each other, take counseling where we could communicate better. And now our marriage is a lot stronger, and I want to thank you for that. Praise God. Count it down right quick. Let's hear a debt-free scream.

Three, two, one. We're debt-free! We're debt-free! 86,000 paid off in two years and nine months, making 50 to 80 with a thousand pizzas delivered. That's a mic drop. This is The Dave Ramsey Show. Our scripture of the day, Proverbs 25, 28. Without self-control, a man without self-control is like a city broken into and left without walls. Harry Truman said,

In reading the lives of great men, I found that the first victory they won was over themselves. Self-discipline with all of them came first. There is no discipline without self-discipline, folks. That's the truth. I have trouble saving. I have trouble losing weight. I have trouble dot, dot, dot. Self-discipline, folks. That's the truth. I have trouble saving. I have trouble losing weight. I have trouble... Self-discipline. Self-control. It's kind of like, you know, I hear the millennials, they say

what they call it, adulting. Adulting. Growing up. One definition of maturity is learning to delay pleasure. You pay a price to win. It means you're a grown-up. Whether you're 22 or 62, you pay a price to win. It means you're a grown-up. The first battle is self-control.

Personal finance is 80% behavior. It's only 20% head knowledge. The problem with my money is the guy I shave with. If I can get that guy to behave, he can be skinny and rich. We know what to do. We just don't do it. You listen to this show and you know what to do. You listen to this show to hear other people that know what to do but aren't doing it or other people that know what to do and did it and they're inspiring.

How'd you do that? Self-control. Self-discipline. You should never say to someone, you need. Henry Cloud talks about that. I love it. Little Johnny, you need. Henry Cloud talks about that. I love it. Little Johnny, you need to go clean up your room. Little Johnny does not need to go clean up his room,

or he would have already done it. But you need to create a circumstance in which little Johnny suddenly discovers, I need to go clean up my room. Otherwise, Mom's going to take away my freaking life. I'm going to be grounded. So I need to clean up my room. I'm going to flunk this test if I don't study. You need to study.

No, I need to study. That's when you study. That's self-discipline, not mom discipline. You cannot be disciplined for other people. You can put them in situations where they wish they were, but you cannot be disciplined for other people. They have to grow up. They have to decide.

You have to decide. I have to decide. When you decide, that's when your life changes. See, that's the powerful thing is God gave you the right to choose. You can choose. You don't like the way things are going? Change. Just now, you just changed.

Ready? Ready? Set. Go. Change. You're not stuck. You're not stuck. Just change. Is it going to take a while yeah is there going to be some pain when you change you bet but change change well our family has always what you're going to live in your family curse change well we're hillbillies we're cajuns we're italians we always do what and then you put

some negative thing after that and you label your ethnic group or your heritage with that with this negative thing we've all got tempers so stop change we don't know how to save money so learn change we don't know how to be nice to our wives. So change. You have the power. It's a power of choice. The power of choice is an amazing gift. Decide. That's what we admire when we watch these debt-free screams or listen to these debt-free screams. That's what we admire when we run into our friend.

I ran into a friend this week who had lost 38 pounds since I've seen him. I went, dude, where did it all go? I mean, I was just like, I'm so proud of him, proud of his success. I went, what'd you do? He goes, I just didn't eat as much. Oh, that's dadgum insightful, man insightful man wow where'd you come up with that formula i wish i and then you say something stupid like i wish i could do that yeah you could you just decide it's change i like chocolate cookies i know don't eat as many of them change i don't like being broke change

work more spend less save more it's a hard formula isn't it it's hard not because of the formula not because the math is i don't know if i could ever get out of debt i don't understand math yeah you do you understand math we're not dealing with you know some graduate level calculus formula here people this is the second grade we're dealing with here you learned addition and subtraction in the second freaking grade. You understand the math. Don't tell me, oh, I'm not good at math. You got out of the second grade, okay? That's it.

And it's not a chemistry formula here. It's the second grade. Don't spend more than you have whoa that's insightful ramsey you know i money left over to give and to save. And you will prosper when you give and you save, because you don't spend more than you have. Well, you don't know about how. Shut up. Don't spend more than you have. So make more.

But don't spend more than you have. This is how you become a millionaire. This is how you change your family tree. This is how you change your destiny, how you change your life, how you have options in your life to drive a nice car instead of a piece of crap. This is how you get to go on vacation on the good cruise ship instead of the cheap one. Don't spend more than you have. Don't spend more than you have. see the problem is is we've we all have gotten so prosperous in america that even stupid people

are prosperous we're so prosperous that even undisciplined dolts are prosperous we're so prosperous that poor people are prosperous compared to other countries and other civilizations. And so average is prosperous. Below average is prosperous in our culture. Average is $57,000 a year income. That's average. If you make $34,000, you're in the top 1% of income earners in the world. You're a 1%-er.

Wealth inequality. Woo! You need to give some back because you make $34,000 a year. Because of that, we've just gotten lazy and we've forgotten the ancient word that will set you free. You have to learn the ancient word if you want to be set free. No one says it anymore because it's politically incorrect. You're not allowed to tell entitled people this word. Everyone's entitled.

You cannot use this word anymore. You cannot use it for yourself and you cannot use it on anyone else. It's very, very unpopular. I'll teach you how to say it because it will cause you to build wealth and it will change your life are you ready you press your tongue towards the roof of your mouth you make a kissing motion with your lips and you blow air past and release your tongue it sounds like this no it's a word you're not allowed to say anymore. No. It's a complete sentence.

Daddy, I want... No. We need a new car. No. You want dessert? No. No. No will change your life.

But it's abrasive and conflict-based and visceral. And it'll freak your life out, and people will get mad at you. No. It's a wonderful word. We need to reinstate it in America. No. That puts us out of the Dave Ramsey Show and the books.

We'll be back with you before you know it. In the meantime, remember, there is ultimately only one way to financial peace, and that's to walk daily with the Prince of Peace, Christ Jesus. Hey, it's Kelly, associate producer and phone screener for The Dave Ramsey Show. If you would like to do your debt-free scream live on the show, make sure you visit DaveRamsey.com slash show and register. We would love for you to come to National and tell Dave your story.