The Ramsey Show - App - Don't Get Caught Up in Consumerism Culture (Hour 2)

Episode Date: October 1, 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. Open phones at 888-825-5225. That's 888-825-5225. Starting this hour off is Monique in New York. Hi, Monique. How are you? Hi, I'm good, thanks. How are you?

Better than I deserve. What's up? So I'm a pretty new listener. I just recently started actually saving my money. And I was working on starting my emergency fund and was wondering if it would be in my best interest to sell a car that I have that kind of breaks down pretty often and cost me a lot of money. So I was wondering if it would just make more sense for me to sell it and buy like a $3,000 car or something like that. Hmm. So what do you owe on the car that you're driving?

Nothing. And what's it worth? On the high end, $8,000. Okay. And how much debt do you have not counting the car? Well, you don't have any on the car. How much debt do you have? None.

No debt at all? No. So you're trying to just get on a budget and save money, and the car's breaking down a lot? Yes. Okay. Other than the fact that it's giving you some trouble, do you like the car? Yeah, I like it a lot. It's my first car. I got it for my birthday.

Kind of attached to it, but at the same same time if it's going to cost me more then you know how old are you uh 22 what'd you say your income was um i make roughly 1800 a month okay so you're making that twenty thousand dollars a year. Are you still living at home? I'm living. I have a roommate right now. So rent is pretty cheap. I just graduated. I don't really have a direction yet, so I'm kind of at like a random job working right now. Oh, gotcha.

Okay. What's your degree in? Biomedical sciences. Okay. All right. Well, what happens to all of us when a car breaks down more than a couple of times is we get pissed off because it's inconvenient. And I just get mad at the stupid thing. And what happens if you're not careful is that'll cloud the actual mathematics of the situation just because you get so mad. You're just like, I'm dumping this thing.

So what I would do is to get past that a little bit i i would go back and um itemize and make a list of the actual dollars that you have spent on the car in the last 12 months well over well over 10 000 well that's not only 12 months then but overall the car has cost me over ten thousand um you've written that down and you've written that down and itemized that um i've calculated the receipt i've kept the receipts from the mechanics and stuff you spent ten thousand dollars on an eight thousand dollar car what in the world went wrong with this car yeah i did have it new it started having trouble from the beginning um so in the world went wrong with this car? Yeah, I did have it new. It started having trouble from the beginning. So in the beginning, it made sense, but then it kind of added up,

and it's not making as much sense to me anymore. How long have you had the car? It's a 2012, so seven years. Okay, all right. And how much have you spent on it in the last 12 months? $2,000. Okay. That's more.

$2,500 roughly, yeah. Okay. But you're saying $10,000 since 2012. Yes. Okay. All right. Because I thought, my God, you just had to rebuild the whole car in a second. I don't know what you're talking about.

It feels like that sometimes. Yeah. Yeah. Okay. What kind of car is it? It's a Jeep. Hmm. Hmm. Which one? A Patriot. Hmm. sometimes yeah yeah okay what kind of car is it it's a jeep which one a patriot okay i just hadn't read anything about them being a piece of junk but um okay nobody told me that until after

i had the car i haven't read that you've read that somewhere or just had people say that i've had many people when i tell them that I have teeth, just say, wow. I'm so sorry. Well, I mean, here's the thing. You know, I've got kids that are 10 years older than you, and if one of them was your age and was in your exact situation, I might say, yeah, go ahead and sell the car. But, no, I would not buy a $3,000 car.

You have $8,000 for the proceeds of this car. I would buy a nice, solid, dependable that you've researched and you've had a mechanic look at for you before you buy the car for $8,000. Okay. My only concern with that is that I don't have a job lined up, so I was hoping to save a little bit more to give myself more cushion. Well, you're making $1,800 a month, and you don't have heavy expenses, so you do have a job.

It's just not the job. Correct. Okay, so you're going to be fine. I mean, if you want to move down to a $7,000 car and put $1,000 in the bank, that's fine, but you don if you want to move down to a seven thousand dollar car and put a thousand dollars in the bank that's fine but you don't you know you don't have any payments and you work an extra job if you want to build up some money for savings i don't want a 22 year old single lady going down into a piece of junk when you don't have to okay you don't have to in this situation now if you told me at eight thousand dollars owed on it i might move you into a thousand dollar

hoopty temporarily and just talk to you to get out there and scrape and grind and get after it. But I really wouldn't. I mean, I'd get you in a nice, solid car that's dependable. And you can get a lot of car for $8,000 if you watch what you're doing or $7,000. So I think you're through with this car emotionally. And it sounds like it's got a bad reputation. You've researched that out. So research out something like a little Honda Accord or something that's got a good reputation

and gets you the best one you can get, something like that, for driving stock for the next two or three years. And you don't have to keep a car your whole life. It's just not a necessity. So, hey, thanks for the call. Open phone's at 888-825-5225. Chandler's in West Virginia. Hi, Chandler.

How are you? I'm doing pretty good, Dave. How are you? Better than I deserve. What's up? I ran into a little bit of a problem. I'm on baby step number two, working down my debt. And my girlfriend of three years insists on helping me.

But to me, I got myself into it. I need to get myself out. What do you think? You're not married. You don't accept money or give money to people you're not married to. That's the way I feel. Yeah. That's very nice of her.

I appreciate that. But you're going to screw up your relationship. You're going to change the tenor of your relationship. And no, I would not do that. Are you planning to be engaged? Yes, but we just haven't got that yet. Okay. All right.

Do you have any, I mean, would you be married within what period of time? Maybe? Possibly. No commitments. I'm not asking you to get married. I'm just curious. We're still young. How young are you?

I'm 20. Okay. And she'm 20. Okay. And she is 19. Okay. So you're thinking a couple more years, or what are you thinking? Probably, yes. Okay. What do you make a year?

I make 45. And how much debt do you have? Altogether, 98,000. On what? I have a $76,000 home. Oh,000. On what? I have a $76,000 home. Oh, okay. I have $4,000 in credit cards. I have $6,000 in a car loan.

And I have $12,000 in a side-to-side loan. Okay. Well, I think what I would do is get a game plan on my budget, begin to clean this mess up. But no, I would not be accepting gifts from my girlfriend. And I would not be giving her gifts of money either. This is The Dave Ramsey Show. Folks, let's cut through the bull. Interest rates are exceptionally low, so you're missing out if you have not called Churchill Mortgage to see if you can save money

on your home loan. Lots of other companies are out there claiming great deals, but don't get lured by slick advertisements. No-cost refinance offers do not mean they're free. Churchill Mortgage has a no-bull refinance. This means there are no hidden fees. They will shoot straight with you. Yes, Churchill can offer loans with no closing costs, different down payment options, or, of course, a traditional refinance. The key difference is you can trust my friends at Churchill to let you know what you're getting up front so you can make the smartest choice and save the most money.

Go to churchillmortgage.com. Do it today while rates are low. A couple of weeks, we're going to be doing a small business entree leadership theme hour. If you have small business questions or business questions about leadership, we're going to be devoting an entire hour to that with the Entree Leadership brand, the number one best-selling book of ours, and certainly events that we do all over the country, the All Access Membership, which is a support group, a support set of content and coaching and so forth to walk with small business people. Anyway, Entree Leadership Theme Hour.

If you have a question that's small business, email it in, and we'll make sure you get to be part of that hour. Kelly or Madison will call you and set that up and make sure that happens. Email me at DaveOnAir at DaveRamsey.com. Put Entree Leadership or small business in the subject line, and so we'll know to get back to you and get that set up and then just pop your question on there a little bit of history whatever you want to give but uh dave on air one word no dashes no spaces dave on air at daveremsey.com send me an email

let me know what's up and we'll make you part of the program our question today comes from blinds.com they have a 100 satisfaction guarantee that means even if you mismeasure or you pick the wrong color they will remake your window blinds for free 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 possible deal rules and restrictions apply today's questions from alan in arkansas trying to get my house paid off as soon as i can i'm currently projected to have it paid off in 10 years i want to do it even sooner do you have any suggestions on how to squeeze every dollar so i

can put it to the house my wife and i have no other debt besides our house you know no i don't um i think you're doing fine uh what'll happen is during that 10 years your income will come up and you'll have a few events that create income for you an unexpected small inheritance or a bonus or something or the sale of something that you didn't even think about until later and that kind of stuff uh and you're gonna end up just chunking it all on the house i'll give you just a guess from having done this for 30 years you're probably gonna pay the house off in about seven years instead of 10 just because you're paying attention and you're concentrating on it that's the whole thing and that that's what you got to do there so you know stay on your every dollar budget just

watch it and don't don't pinch your household down so tight that you can't breathe just because you've got a goal uh you're in baby steps four, five, six. That's when you take your wife on a cruise if she wants to go, dude. That's when you buy a couch if she says buy a couch. And this is where you do some other things to enjoy some money as well as any of the other money we find in the budget or in the process of living life we throw on the house. So, no, I really, this is when you're the tortoise. And every time I read the tortoise and the hare, you know that all Aesop's fable, the tortoise wins.

Just keep on grinding, baby. Just keep on grinding. And that's how wealth is built. It is not, people who build wealth generally are not flashy. We like to think, oh, oh, so-and-so got a stock tip and you know what that's just a bunch of crap in the real world that just doesn't happen and if it does it's like a fishing story you know he lost 30,000 before he made 4,000 um he forgot to tell everybody that part of the story you know and so it's a golfing story it It's a fishing story. They're all stretched, right?

And so stock picking story or the I got rich quick story. There's just not many people that get rich quick and stay rich. And there's not that many people get rich quick. The vast majority of people who build wealth do it slowly and steadily. And it's just not real sexy. It's not got a lot of flash on it. It's not got a lot of shine on it. You're just grinding, man.

You just grind. You just do it. You stick with stick with it just don't quit it's a marathon and so that you know just don't quit that's the big thing don't get sidetracked or something flashy because people go buy something that's you know it's shiny and you know we're america we're like a bunch of bass everything is shiny we just run towards it you know And so you don't want to do that. Just don't get caught back up in the consumerism culture. But you're doing really, really good, Alan. Just stick to the plan. All right. Gary is with us.

Gary's in California. Hi, Gary. How are you? I'm blessed. Just crossed the threshold into Baby Step 7 this morning. Boom! Boom, boom, boom. I love it. Yeah, I'm calling about a question with a retirement health savings account.

When I retired, I had the ability to transfer all of my sick leave into a retirement health savings account tax-free. Cool. The account is managed by the same company that manages the 457. So the money grows tax-free, the money comes out tax-free. My medical insurance right now is $1,800 a month. So we're able to draw a minimum of $1,800 a month out of that account. The main thing with that RHS is because it's managed by the city, if my wife and I both pass away with the money still in there and no dependents, it will roll just straight into the city.

So I want to get as much of it out as I can monthly so that it becomes part of my net worth. Can you not roll it to another HSA? No, because the retirement health savings account managed through the city, so my understanding is that it has to stay in there. It's not a traditional HSA, okay. No, it's not an HSA. It's a RHS is what they call it.

Okay, all right. So my question for you is... So was it like a 125? It's probably a 125 plan, a cafeteria plan where you were paying into it pre-tax? No, no, no, no. No? Okay. So we have a pooled plan through my work that was called an employee benefit trust. It's an ERISA account, and then on top of that, this one would fall under ERISA as well.

I got you. So I'm catching up. So what's your income in retirement? Take-home is just under $15,000 a month. How old are you? 52. What's your net worth? 1.2.

Way to go, dude. Touchdown. Congratulations. Yeah, we're blessed. Thank you for your help. I like it well i'm proud of you good job my my question though is um with that rhs um because i'm drawing it monthly currently i have it all in just safe money market type accounts uh and then as i'm

drawing it i we until we just paid off the house every month, I was drawing and putting it straight to the mortgage. Now that we're in baby step seven, I'll be investing it. But should I still also the money while it's in there, have it invested? How much is there? Keep it safe. $160,000. How quick will you be drawing it down? $1,800 a month.

That's the most you can pull? Unless we have other expenses, but that's our monthly health insurance cost. Do you have long-term care insurance? Not yet. Oh, you're only 52. You don't need it. I'm 52, and my wife's 50-something. She won't let me tell you. Okay, so you're drawing $1,800 a month, so $20,000 a year, so eight years. Yes. And you can put part1,800 a month, so $20,000 a year, so eight years. Yes.

And you can put part of it into a mutual fund? Well, yes, it can be in mutual funds, but here's the other problem. My initial thought was I would put like two to three years at a time in SAFE and invest the others. But when you draw it each month, you cannot determine which funds it comes from. They split it equally across any funds that you're invested in on the withdrawal. Okay. It's 10% of your net worth, give or take, or will be soon. And so I would put it all in mutual funds.

Okay. Because here's the thing. You're not worried about the fluctuation that you're drawing. If it fluctuates, so what? It's not going to kill you. You're either going to make to make some money on you're going to lose some money on it over eight years if on market averages you're going to make some money while you're drawing it down um and it's it's a reverse dollar cost average is all it is so yeah i'm gonna just drop it all in there as long as the funds are decent i mean can you get something as you move it would you move it in big chunks or would you dollar cost average moving it into the funds i just drop it all in there as long as the funds are decent. And as you move it, would you move it in big chunks

or would you dollar cost average moving it into the funds? I'll just move it all in there today. Okay. And then I'll just let the draw come off the fund because you don't get to decide what fund it's coming off of is what you told me. Yes, correct. You can't. So if it's all mutual funds, now we decided.

Okay. Yeah, we took control of this situation by God. So it's found money. It's around 10% of your net worth. You're not going to lose much of it if the market really swung on your heart. And so you're not going to lose as a percentage of your net worth. You might lose 2% or something. So it's not going to change your life, in other words.

Either way, but you've got enough margin here in your net worth and you're young and you've made really good money and you've done a really good job. You've got enough margin in here to let this money ride and let it enjoy the ride. And worst case is you might lose a little bit on it, but it's not going

to be enough that you notice. This is the Dave Ramsey Show. Business leaders, if you're not using LinkedIn Jobs, you are missing out. Our Ramsey Solutions Company page on LinkedIn has over 100,000 followers. That's over 100,000 potential like-minded people our team communicates our current openings to. We also post on LinkedIn Jobs because we know the right person will have an impact on our company for years to come. And LinkedIn Jobs matches the right person with the right job. It's no wonder a hire is made every eight seconds on LinkedIn and over 600 million members visit LinkedIn to make connections, learn and grow as professionals and discover new job opportunities. In fact, LinkedIn members add

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Agnell is with us in Arizona. Hi, Agnell. How are you? Hey, Dave. Pleasure to talk to you. How are you? Better than Agnell. How are you? Hey, Dave. Pleasure to talk to you. How are you? Better than I deserve. What's up?

Great, great. I'm just going to keep this short and sweet as possible. I'm 24. I make $66,000 a year. I'm a dental hygienist. I'm in a lot of debt, $3,000 on a personal loan, $9,000 on a car, $21,000 on my student loans, and $130,000 on a Parent PLUS loan. I work at an IHS facility, so they give me $18,000 a year for a loan repayment. The problem that I have is the Parent PLUS loan increased from $200 to $870 because my mother has no more dependents living with her. And so I can't

really make that payment until my debt snowball gets a little bit bigger. So the way I can kind of postpone those payments for the Parent PLUS loan is to take the 18 grand that I got from a loan repayment and kind of pay ahead on that loan. So I was just wondering whether I should take that $18,000 and put it towards all my federal student loans, the $21,000, so I can get closer to the Parent PLUS loan with the debt snowball or just postpone the Parent PLUS loan as well. Okay.

I don't know why on $66,000 you can't make the payments. Well, the thing is, it'll be very, very, very tight. Well, I feel like I can make them, yes. Have you done an actual budget? Yes, I have. Okay. What is your rent? How much is your rent? $900 a month. Have you done an actual budget? Yes, I have. Okay. What is your rent? How much is your rent?

$900 a month. How much is your car payment? $180. Okay. And you have $21,000 in student loans and $3,000 and $130,000. You're picking up the Parent PLUS loan even though it's your mom's loan? Correct. And that was your agreement with her?

Yeah. Okay. All right. And you're a dental hygienist? Yes, sir. So you're working 40? Yes. Okay.

What about an extra job? I do Uber on the weekends. Yeah, but what about at night? That's about it. You get off at 5? Yeah, and I go to the gym after work, and by the time I get home from work, I'm exhausted because my commute is an hour. Well, your mom needs her Parent PLUS loan paid, so I guess you're not going to the gym. I guess you're going to work.

I was hoping not to hear that okay i don't know man if you want to go to the gym you're gonna have to tighten up something else in the budget correct you know there's only two sides of this equation income and outgo and what you're doing what you're talking about doing this 18 000 is just uh you're playing hide and seek here and eventually you're going to get found so uh i mean you're just delaying the inevitable you're just screwing around trying to hide the p under the shell and it's still under one of the shells so um what i want to do is create a a sustainable plan where you're able to attack this long term uh did you get 18 000 in a lump sum yes it went literally went literally $18,000. And it's sitting in your account?

Yes. Well, why don't you pay off your car and the $3,000 loan and a bunch of the $21,000 loan? Well, I want to keep it towards the student loans. Why? Because that's what they gave it. That's what they gave the money to me for. The faster you get everything paid off, the faster you're going to go on the student loans. Right, right. gave the money to me for the faster you get everything paid off the faster you're going to go on the student loans right right i just didn't know whether i was i mean i'm sure i can pay off the car with it everything else but money's in your account i'm sorry the money's in your account

you can do with what you want it's not illegal believe me it's just the point is is that we are going to pay off the student loans and we are going to push this on through. So let's see, $9,000, $12,000, $6,000, and $60,000. So, I mean, dude, like right after Christmas with you working your butt off, you could be debt-free except the Parent Plus loan. And you'd have all kinds of room in your budget. Right. So you take a quarter off from the gym and you kick this thing in the butt. Right. So you take a quarter off from the gym and you kick this thing in the butt. Right.

Because if you paid off the $3,000 loan, the car loan, and the student loan by Christmas with this 18 and with working your butt off, and you can do all of that. You're only $6,000 off, and this is September. So I'm not getting in the head, man. You can do this. And then you're sitting there staring this Parent Plus loan down. Now we got a little bit of a slog going here. It's going to take a while to get through that puppy. But, hey, is there any side gigs for hygienists?

I can possibly pick up a Saturday shift, a morning Saturday shift. That'll pay more than Uber. Right, and I can do Uber after the Saturday shift. No, you don't even just do more Saturdays. You get paid more for being a hygienist than you do delivering goobs. Right. Right? Right.

Yeah, that's true. So go be a hygienist. There's more money in that, man. That's why you got trained. Yeah. So use the skills. Because what we're trying to do here is just create some money. And my rule in my life has been I'm a Band-Aid all fast guy.

Work like nobody else so later you can work like nobody else. Live like nobody else so later you can live and give like nobody else. And I appreciate the honor of you wanting to do the right thing by this money and really appreciate the honor of you doing the right thing by your mom. Yeah. You're a good man. Thank you. Thank you.

If I can help, you call me back. But that's what I would do if I woke up in your shoes. I'd get after it, man. And I'd be done with this crap, everything but the Parent Plus by Christmas. And then I would lay into that on a steady grind and work your way through it. It's going to take a while, $130,000 making $60,000. You're going to have to get your income up. And that thing's going to be hanging around longer than you wanted it to.

So, hey, thanks for the call. Open phone's at 888-825-5225. Okay, so I like him. Thanks for the call. Open phone is at 888-825-5225. Okay, so I like him. Good guy. I like his heart. But I want to kick his mother's butt. If you're a mom, you don't sit down and look at your kid and say, hey, honey, let's go $150,000 in debt so you can make 60 cleaning teeth.

Dumb butt decision, okay? I'm not picking on him, but, you know, mom, come on. Do some math here. It's basics. The return on investment there is ridiculous. You can become a hygienist a lot cheaper than $150,000 to start with. But secondly, and there's nothing wrong with being a hygienist. I'm really glad you guys are out there. Please don't hurt me next time I'm in there.

But the point is that any time you're looking at a degree field, you don't spend just whatever the flip you want to spend because it's all going to work out because i got a degree this is the whole thing it's why we got this whole borrowed future debt-free degree thing going we have a i hate student loan movement going with anthony o'neill right now and check out the new podcast borrowed future it's exploding people are going crazy over this new thing. It's uncovering the student loan crisis. But that's exactly what happens is nobody looks at the math in these decisions. Look at the math in these decisions.

Because everybody's strapped here. Mom's stressed, worried about this loan because Junior doesn't pay it. She's saddled with it. Junior's trying to do the right thing. Step up, take care of Mama. He's a good man. He's a good guy, y'all. That's a good guy right there.

But Mama, I'm going to box your ears. don't do that kind of stuff to your kid this is the dave ramsey show Benjamin is with us in Illinois. Hi, Benjamin. How are you? Better than I deserve. How are you, Dave? Just the same, sir. What's up? Awesome.

So thank you for taking my call. I'm 22, and I wanted to ask, what is the best way to finish my bachelor's in business administration? So we know how bad student loans are, and I agree, I hate that, but I don't see myself getting this degree without taking out at least a couple loans. So I have around two years left to finish, and assuming I don't work while in college or get any additional grants. Why would you assume that? Why would you assume not working while you're in college? I like to plan for the worst and hope for the best.

Well, I'm going to plan for working in college is what I'm going to plan for. Okay, that's fair. Because you've got to pay for this. Flip, you're going to pay for it otherwise. I'm not going to put you in debt. You called Dave Ramsey. All right, so how much does school cost? Fair enough.

So $10, dollars a year and you need two years so you need 20 grand yes sir are you living at home yes good and you can live at home and go to that school that no i can't do oh in kent's in Kentucky. Why is it in Kentucky? You're in Illinois. Partly because I wanted to get away from the city and be able to focus on school without the other distractions of life. Uh-huh. Okay. Is there a business school in your area that you can go to?

Uh-huh. There are a business school in your area that you can go to? Uh-huh. There are a few, of course, in Chicago. I did look, and it would save a lot of room and board. It would be an extra $10,000 to $15,000 if I didn't sleep on campus. Yeah, because basically what you're doing is you're paying $20,000 for your education, and you're paying $20,000 to get out of state and go live away from mom and dad. Right.

So we have to decide what our goals are here. Goal number one is get the education. Goal number two is go have fun and get out of state. Okay? I mean, that's a secondary goal for sure. And I'm sure it's crud not borrowing money for that. Right, right, right. Okay. so do you have any money at all right now you're saying cash in hand yes sir so um i am currently 74 in debt 7400 and then i have

about right now 4 000 cash okay you have4,000 saved towards this $20,000 problem or $40,000 problem, right? And have you applied for any scholarships or grants? No. How is it that you can go to Kentucky so cheap? Because that sounds awfully cheap for an out-of-state tuition. Yeah, so

it's a private school, and because I'm a member of the Baptist Church that we go to, they do half off, 50% off. You're a member of what? A member of a Baptist church, so they give half off for students who are involved in a Baptist church. Okay, cool. Was it Asbury? No, Asbury's Methodist.

No, it's a Southern Baptist Theological Seminary. Okay, cool. Are you studying to be a pastor? Actually, no. I'm studying for be a pastor? Actually, no. I'm studying for business. Oh, you said that. I started already a couple. Yeah.

I already took a few classes already, though. That's the thing. I already took some online classes, and then I was there for a semester as well, so I did already start. Great. And they'll transfer. They would transfer to another place. Okay. So here's the thing. Where you graduate from really does not matter as long as the education is reasonably good,

as long as you learn the business principles that you're supposed to be learning while you get your degree. The piece of paper has no value at all. Only the knowledge that you're going to gain has value in the marketplace. No one succeeds because they got a college degree. They succeed because of their personal character, their drive, their ambition, and the knowledge that they gained while getting a college degree helps them to succeed. Okay? And that's the way you need to look at this.

And so your primary goal is to get the knowledge. That's your primary goal. Your secondary goal is to move to Kentucky and go to the Baptist school. But I suspect that, I mean, you might be able to make, let's see here, 40,000, 20,000 years. I mean, you'd need to make about 22,000 a month while you're in school. That's a lot of work. You can do that.

It's possible. But you can do that and work your way through the Baptist school. Or you can make $800 a month and $900 a month and live at home and get through school. And you can make that. I mean, you can make it if you're in Kentucky. What city in Kentucky is that in? Louisville. Okay. I mean, you can make that delivering pizza in louisville but you're just going to be working

all the time while you're in school and uh if it means that much to you to be away but keep in mind that you're spending twenty thousand dollars for your education and you're spending twenty thousand dollars for your lifestyle right and so you cannot tie the two together and say oh i have to do the lifestyle in order to get the education because we've established that you can get the education where you live it's just not where you want to go so i'm okay if you do either one you're just going to be working your way through i would apply for 5,000 scholarships. Go to Anthony O'Neill's website. We've got 10,000 scholarships on there. We're giving away $10,000 in scholarships.

You might win one of them. One of them is $5,000 and there's two $2,500s. You might win one of them. Sign up for it. There's no purchase necessary. AnthonyO'Neill.com. On there is a scholarship search tool. On there is a college calculator tool.

And it will help you to do all of this and get in there and start some scholarships and apply for about 300 of them and then over the weekend here just spend the whole freaking weekend filling out scholarships and get turned down for most of them but i mean if you got twenty thousand dollars or fifteen thousand dollars in scholarships it changes this whole discussion so yeah make that your new part-time job first and then deliver pizzas or blow leaves off rich people's lawns rich people are scared of leaves get you a leaf blower and you know there's all kinds of stuff you can do it's called work man and and yeah you're gonna work or you're gonna go in debt because you were too lazy to work but either one of those and then you're gonna get to work to pay off the debt so one way or the other you're gonna end up doing the work my man you know

you're just kidding yourself so let's go ahead and just face the music that's the way i look at it one of the things i learned to do is to just benjamin as i just said debts off the table once i no longer have the ability to borrow money because i refuse to then anything i want to do i have to figure out another way to do it and all of a sudden you get real creative or you slow down or you pick different things than you would have picked otherwise but um you're a student loan looking for a place to happen right now if you don't shift some of these attitudes you started this phone call with but I think you can and I think you should you're too bright a young man to cause to fall in the same trap all these other goobs

have in America so don't be like everybody else, dude. Try being weird. Tell you what, hold on. I'm going to send you a copy of Anthony's book, Debt-Free Degree. It comes out next Monday, and I'm going to give you a copy of it because you need to go get a debt-free degree. It's what you need to do. This book's going to change the way a whole bunch of people just like you think about this, I hope.

Open phones at 888-825-5225. You jump in. We'll talk about your life and your money. It is a free call. So, that was a really good discussion with Benjamin, you guys. Now, explain to me, Republicans, explain to me, Democrats, why you would approve a bill that loans that young man money so he can have the college experience, not so he can go get an education,

because he was getting ready to borrow money just to go to kentucky and there is nothing on the planet to stop him because congress has a fire hose open called the federal student loan program and we loan 17 year olds money with the decision making critical thinking skills that that young man has explain to me why this is continuing. Guys, this is straight up stupid. It's stupid. This is why we have a student loan crisis right here. Because no one says no to anyone anymore in this culture.

It's the ancient word and it will set you free. You press your tongue towards the top of your mouth, you release and you blow air past making a kissing motion with your lips. It sounds like this. No.

It'll set you free. This is the Dave Ramsey Show. This hour is over, but you can find more great content on our YouTube channel. Catch the most watched Dave Rantz, debt-free screams, and the very popular Everyday Millionaire segment. Go to the Dave Rantz Show YouTube channel and click subscribe.