The Ramsey Show - App - Don't Make Progress in a Hurricane - Just Try to Survive (Hour 2)

Episode Date: January 6, 2020

Savings, Budgeting, Debt, Career Tools to get you started:  Debt Calculator: http://bit.ly/2QIoSPV Insurance Coverage Checkup: http://bit.ly/2BrqEuo Complete Guide to Budgeting: http://bit.ly/2QEyonc Interview Guide: http://bit.ly/2BuGnZE Check out other podcasts in the Ramsey Network: http://bit.ly/2JgzaQR 

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. Yasmin is with us in Virginia. Hi, Yasmin.

Welcome to The Dave Ramsey Show. Hi, Mr. Ramsey. How are you on this blessed day? Just great. How about you? I'm doing fine. Thank you for asking. So I am calling to ask, how can I prepare myself financially to perhaps part ways from my husband and to actually possess financial freedom? I'm a 29- old stay at home mom with a three month old

and I'm completely set up. My husband just continues to not be honest with me. He's had two cards repossessed. One that I believe is repossessed now. I just talked with him about it two days ago and he spazzed out literally two weeks before I gave birth to my son. Um, I found out that I was, that we were being evicted based on, or due to a 10, not paying rent for an amount about $10,000. So, um, as you can imagine, I'm at my wit's end, and I don't have any money. So I just need to know what should I do financially in order to get out of this pickle. How long have you guys been married? We've been married for four years.

Okay. All right. Are you in a good church? I am. Is church? I am. Is he? Yes, he is too. Okay. Here's the thing.

There's two possibilities with this guy, your husband. Mm-hmm. your husband. It's possible that he has no idea what he's doing with money. And consequently, it's like handing someone the keys to a car to know how to drive. Consequently, they would wreck it before they could get out of the driveway.

Yeah. How old are you guys? I'm 29 and he is 31. Okay. Or he is a self-centered jerk who doesn't care about anything or anybody. I kind of think it's number one. I think he's completely inept, does not know what he's doing, scared to look like a doofus to you because you're his lady,

and so he lies. Yeah, I think that's definitely it. He has the idea that, you know. He's supposed to bring home the bacon and handle this, and he doesn't know how. Correct. And he has, I know he makes good money, but... What does he make? Well, okay, so he brings home roughly about $4,000 every two weeks. Too much to get evicted. Okay. Exactly. All right. So here's what I would suggest you do. I would suggest you go in and sit down with you and him and your pastor or a marriage counselor that's on staff at your church or something like that. Okay. And the two

of you. And I think you tell him, I think you're a good man. I think you're crummy at handling money. If you're going to continue to lie to me and to not allow me to be involved in the handling of the money and we don't get any help on handling the money and we're not going to get any better at handling the money, I'm done. I'm leaving today. But if you will work with me and learn how to do this and the two of us work together and you will tell me the truth, I will stick with you the rest of our lives absolutely and you know what he'll bite he'll do it because the pastor's gonna look at the pastor's gonna look at him and box his ears well he we've

we've done this before and the pastor's had some pretty long talks with him regarding his responsibilities but he still handed him back the keys and he doesn't have driving instructions so i'm going to fix that part i want the two of you in financial peace university immediately as my guest i'm going to pay for it i thank you so much but the it's mandatory that both of you go and that you use this new instruction and the newfound teamwork of the two of you working together where you're no longer ignorant of anything in the money piece and both of you learn how to do something you don't know how to do right now, which is handle money, and there's no shame in that. Everyone doesn't know how to do something.

I remember the first time I got behind the wheel of a car, I almost tore it up. My dad should not have handed an 11-year-old kid the keys and not given him instructions, you know? But that's what you do. That's what you do out in the country the keys and not given him instructions you know but that's what you do that's what you do out in the country you just try stuff out you know so but that's kind of how it feels right now like you guys just run the thing in the ditch and then you run it in the other ditch and then you run it in the other ditch now the car's all bent up you know yes no pun intended with all the repos at your house but still um yeah if you learn how to handle money i

think your marriage is going to turn if you learn how to handle money, I think your marriage is going to turn, if you learn how to do it together, I think your marriage is going to turn around really, really fast. Because I don't think this is a bad guy. I think this is a guy who's ashamed. You're right on it. Absolutely. But he has to push past his false pride and say, I don't know how I need help, and I'm going to hand him a driver instruction manual and show him exactly how to become not just a driver,

but a world-class NASCAR driver. I'm going to teach you how to become wealthy. Okay. Well, I appreciate that. It'll work. I promise you. Financial Peace University, in situations like yours, if you will both embrace it, will not only turn your finances around, it'll save your marriage. If you do not do this, and he does not do this, you will finish up becoming the rest of

the way disgusted, and you will put together a war chest somehow, and you will leave him, because you're too bright a woman to stay in a situation that's just toxic. This is financial abuse that you're living in, and it's not that he's a mean abuser. He's an angry guy who throws stuff. Thank God he's not that guy. He's just a guy who doesn't know what he's doing. And there's a whole bunch of guys and gals out there that don't know what they're doing. No shame in that at all.

The only shame is continuing to act like you know what you're doing and keep wrecking your car and wondering why. Hold on. Kelly will pick up. We'll get you guys in Financial Peace University. I'm going to pay for it. And you call me back someday and tell me how good things are going. And someday when you're rich and famous, find some young couple who's scared like you are right now and confused like you are right now, and you pay for them to go through Financial Peace. You pay it forward later.

Okay? Meantime, I got your back. Hold on. Kelly will pick up. Open phones at 888-825-5225. Some of the times that I have been the meanest is when I was hiding and I was ashamed. And I was trying to be something I wasn't, and I was trying to posture. And that's typically a young man's game.

Old men get tired of that stuff most of the time. Most of them grow out of it. But some girls do it. We see it on instagram a lot trying to be something you're not spending your entire freaking paycheck and then some like spinning like you're in congress and wondering why you're broke all to impress people who don't even really like you don't even who know no they don't know who the freak you are even you know But you've got followers. No, you don't. You have a digital dream, a digital illusion.

This is The Dave Ramsey Show. Business leaders, right now you have the opportunity to take your business to the next level this new year. You can start by hiring the right people to help your business grow. At Ramsey Solutions, we post on LinkedIn Jobs because they are the best at matching the right person with the right job. LinkedIn Jobs screens candidates with the skills you're looking for so you can hire smart and fast. The thing I love about LinkedIn is they look beyond just the work skills and put your job post in front of qualified candidates who match your business requirements perfectly. That's how LinkedIn makes sure your job post is seen by the people you want to hire. People with the skills, qualifications, and other interests that will help your business grow. It's no wonder a hire is made every eight seconds on LinkedIn.

So this year, set your business up to succeed. Get started today and get $50 off your first job post. Visit LinkedIn.com slash Ramsey. That's LinkedIn.com slash Ramsey. Terms and conditions apply. Well, the average shopper spent close to $1,000 on Christmas this year. That's a lot of money, especially if you charged your way through the holidays. And some of you tuning in right now, you're about to get smacked with your financial hangover. Maybe you ran around the mall spending like you were in Congress, and now you're worried about how to clean the mess up. Well, the first step to paying off your debt, all of it, is to create a budget. And if you've never done a budget before, don't worry. We've created a free app that over 7 million people use called EveryDollar.

And it will walk you through the process. It takes less than 10 minutes to make your first budget. And you can do something starting right this second. EveryDollar. Make a plan so you don't wake up in May, like most people, and they still are paying on their Christmas debt. Go to EveryDollar.com and download EveryDollar.

That's EveryDollar.com. It's free. Mike is in Illinois. Mike, welcome to the Dave Ramsey Show. Hey, Dave. Happy New Year. Thanks for taking my call. My pleasure, sir.

How can I help? I took part of FPU a couple years ago. I wasn't able to finish it, so I had just a couple of follow-up questions. I learned enough to where my wife and I were able to get down to the only debt we have is our mortgage. We did a 15-year fix on a conventional. Good. Yeah, my first baby is due here in a couple of months, and we wanted to put some investment in for college or, you know, whatever he decides to do when he becomes an adult,

and I didn't know what you recommended for taking that route. All right. Well, we recommend, as you said, baby steps, and you paid off everything but the house, and you have your emergency fund in place of three to six months of expenses? Yes, sir. That's baby step three. Are you putting 15% of your income towards retirement?

I am, and that's actually going to be one of my next questions, but yes, I am. Okay, that's baby step four. And then for kids' college, we just recommend you start doing something. A minimum would be a $2,000 a year ESA, educational savings account, and some mutual funds. That's $166.67 coming out of your checking account going into that. And then you could go on and start working on paying off the mortgage because that would take you a long, long way for a baby towards them going to school. You could come back later and beef it up with some additional investing using a 529 above the ESA if you wanted to, but that'll get you going. The whole thing is to touch the base of college, and that's what you're doing. You're

saying, hey, a baby's coming. This just got real, and we got to think about college, and I'm going to be a good dad, and you're doing that man congratulations well done that's exactly how I would do it Sue Ellen is next in South Carolina hi Sue Ellen how are you hi Dave I'm well thank you and you better than I deserve what's up hi um I'm new to this budgeting thing I've never buddied with before if I needed more money I worked more and we're trying to get right size. We just retired. We made every mistake that you can. And we have $30,000 in credit card debt. So we made a budget and we're trying to get to that zero point. I picked up another job, a small job, and we haven't been able to get to the zero.

So what I want to know is I'm thinking we do have savings. We have our 401k, and I'm thinking we should pay off our car, one of our cars, so that we have that payment available to go into our budget. How much do you have in your 401k? Well, it's our retirement fund now. We have about $100,000, but we had much more. We spent quite a bit of it. What did you spend it on?

Well, this isn't the first time we've paid off debt. So if you were to take money out of there and pay off all your debt, what's to say that you're not going to just keep spending like you're in Congress? I'm much more committed now. What about him? My husband and I are now working together on this, which is a wonderful thing. Who was the problem, you or him? Mostly me.

I'm the freewheeler, but he or him? Mostly me. I'm the freewheeler, but he never wants to disappoint me. Yeah, he doesn't tell you no, so you just go continue to do it. So you're really done? Yeah. Because, I mean, you're going to be broke, and you're going to be eating dog food. I know. I'm done. I am done.

So what do you owe on these cars? We lease. We have two leases. Yeah. And I'm trying to sell one. Why don't you just sell them both? Well, I haven't got them. I've got them on line to be sold on Marketplace, but I haven't got any bites so far.

Okay. Price it and get it sold. Let's get them both gone. And let's get rid of those payments. And then you've got $30,000 in credit card debt and $100,000 saved. What's your household income? About $45,000. We're retired now. Okay. And how old are you guys? I'm 68 and my husband is 73. I know. Yikes. Well, here's the thing. The reason I'm sighing is not just that you're here. I mean, I wish you weren't here, too.

But if we use $30,000 out of your $100,000 to pay off your credit cards and we sell the cars and we get a couple of junk cars to drive, which is just fine with me for right now, you know, it's going to leave you about $50,000 because you're going to have to pull out enough to pay the taxes on the $30,000. So you've got to pull off $40,000, and that's going to leave you $60,000. And your total nest egg is $60,000, and you're 68 in 70 years. Oh, that scares the crud out of me.

But I'd rather have you there than have credit card debt. Do you own a home? We have a mortgage on our home in South Carolina. And what do you owe on that? $130,000. Okay. All right. So you're barely paying those bills, aren't you?

Well, it isn't too bad because the taxes are so low here. The mortgage and taxes and insurance together is just under $900,000. Yeah. Okay. Well, what I would tell you to do is to sell both cars as soon as you can without getting in a bunch of trouble on them. And I would pull out enough to pay off the credit cards, make sure all the credit cards are cut up and closed, and you never touch another credit card the rest of your life.

Yeah. You cannot afford to own one. I understand that now. These snakes have bitten you. You have poison in your system. Do you feel it? I do feel it. Okay.

We've got to get rid of that. And then I want you and your sweet husband, who's so sweet he won't tell you no, to go through Financial Peace University, and I'm going to pay for it because I want you to try to put together a retirement with dignity plan here. And I think you can do it, but you're just going to watch every little nickel. Every little nickel is going to have to behave because the dollars have already gotten away and now we've got to work on the nickels. And so we'll help you, but you got to get out of those cars and you got to get rid of this credit card debt and you got to be on a budget. So get your EveryDollar app opened and get going with it.

And Kelly will pick up and we'll get you into Financial Peace University as our guest. We'll take care of you. And then you call me if you get scared and you're working on this and you don't know what to do. But you've got to stick with this, Sue Ellen. You don't have another shot. You can't squander this shot. This is your shot. Stick with it.

And I'll help you. I'll walk with you. Hold on. Kelly will pick up. Open phones at 888-825-5225. Hey, poor financial decisions are hard to live with. I get it. I've done it too.

That's how I started teaching this stuff because I was stupid. Don't y'all remember? I went broke. And some of you listening right now, you're desperate. You're scared. You don't know a way out. Debt collectors are calling. Retirement accounts have been neglected. You don't know if you're going to retire. Holiday spending took you through the roof. You're out of control. You're hurting. You're scared. You're ashamed. You feel condemned by just your own bank account. If you're there now, here's what you need to hear.

There is a way out. There is hope. All you need is a plan and some encouragement, and I've got both of those things. And you put the bad money decisions in your rearview mirror. It's called Financial Peace University. We're hosting a free preview of Lesson 1

January 7th, right on YouTube. It's a proven plan that's helped over 6 million, almost 7 million people get out of debt and become wealthy. The 7 Baby Steps, we'll send you a link to register for free. Text WATCH to 33789 for a free preview to Financial Peace University, January the 7th. I can't believe 2020 is here. If you're paying attention, you're already planning your new budget. For most of you, your mortgage is your single biggest line item. Lowering that payment could have a dramatic effect. My friends at Churchill Mortgage want you to save big.

So if you get a free Churchill checkup this month and it makes sense to refinance, you'll get an extra $200 off your closing cost. It's a no-brainer for all my listeners who have a mortgage payment. And it doesn't matter which mortgage company you've used in the past. Go to churchillmortgage.com forward slash checkup to activate your $200 discount this month or call 888-LOAN-200 and reference promo code CHECKUP for $200 off.

This is a paid advertisement. NMLS ID 1591. NMLS ConsumerAccess.org. Equal housing lender. 1749 Mallory Lane, Suite 100. Rent with Tennessee 37027. For a limited time only, this offer is applicable to closing costs and is not combinable with other offers. In Oregon, Fouad is calling. Welcome to the Dave Ramsey Show, Fouad.

How are you? I'm doing well, thank you. Thanks for taking my call, Dave. My pleasure. How can I help? My wife and I went through FPU a couple of years ago, and we were well on our way on step two, paying our debts. And a couple of bumps in the road, some with the IRS, and we were able to get everything figured out. Anyway, last year and a half, she got diagnosed with tongue cancer.

And I am on a mountain of medical bills that are coming down. And I'm trying to figure out how to navigate through paying the debts versus the medical bills that are piling up and how to, and I'm kind of getting worried because I don't know obviously what the future holds, but I'm trusting God in that. And I just want to know how to go about figuring out what to do because it's tough, but, you know, we trust in God.

Sure. So what kind of cancer did you say? Tongue cancer. Tongue? Yeah. Okay. It's come back a couple of times. How old is she?

She's come back a couple of times. How old is she? She's 48. So what are they saying your prognosis is? She's in second round of radiation. I'm sorry. We're separate now because she has to be in another state to get these treatments. And I have to stay home to work so that I can have an income. I have a good income. We're both nurses, but she can't work, obviously, anymore.

She's with some good friends from our old church that have taken her in and helping us out. That has been a huge help. Our, that has been a huge help. Our church family has been a huge help for us. Oh, my goodness. And health insurance is not picking up the majority of the medical? Well, actually, I think I have a pretty good health insurance. We maxed out, and they were paying 90%. So even with all the different stuff, now we are back on the new year again, so it starts all over.

So you got a deductible again. How large is the deductible? It's about, for families, about $27,000. And what is your income? What are you making? About $110 a year. So when you say medical bills are paying up, it's the deductible plus the 10% copay that's piling up.

So you're going to have $40,000, $50,000 in medical debts, give or take. Does that sound right? Yeah, right now I have about $20,000. Yeah, okay. But if you hit a $27,000 deductible, you'll be there again pretty quick. Okay. And how much other debt do you guys have and the debt snowball that you were working on?

Well, we were paying off a $6,000 401k that we had pulled out. We had a $13,000 car payment, which we had to get a car because we needed two cars. A $60,000 loan, Stephen loans, and a $4,500 credit card. Okay. All right. Is she driving at all?

In a good day, yes. Okay. All right. Is she driving at all? In a good day, yes. Okay. So we're going to keep the car for now. Okay. She's also out of state, so. Oh, okay. Okay. Yeah.

Well, I would put the student loan on hardship deferral. I would pay everyone else minimum payments. You're square in the middle of a hurricane. And so we're not going to make progress in a hurricane. We survive while in a hurricane. Okay. And so, uh, I mean, financially you're getting some stuff torn up. There's some shingles coming off the roof while you're fighting cancer. Not only is it emotionally and spiritually and relationally draining, physically draining to do, to go through what you two are both going through. Um, but on top of that, it's eating money. And so, um, yeah, what I would tell you to do is just pay minimums

on everything. I'd call the student loan people and tell them we're putting you on hardship deferral i'm not paying you anything right now and uh uh you know i'm gonna fight cancer then and you just fight cancer and you whip its butt and that's the next thing you do and when you get that done then we'll start playing again total money makeover games, okay? But Total Money Makeover stuff's a monopoly game. You're fighting life or death right now. Yeah. So you fight, and you fight. You keep the medical stuff done. You take care of her.

You create experiences and moments, and you pay minimums on everything. And if you were able to pile up some money, you stop all 401Ksks all contribution to any kind of investments and you live literally in the moment until you get the other side of the storm the only good thing about hurricanes is they don't last forever and so two years from now whatever and whatever it is now, you're going to be able to stabilize, and, you know, you'll clean up the medical bills,

and then we'll go back and we'll start the debt snowball again, and we'll get the car paid off and the little dinky butt credit card paid off and attack those student loans with your good income because you've got a great career field that you two are in. And so, but right now, you just put plywood over the windows and you fight cancer, right? We're in the middle of a hurricane. Is that okay?

Yeah, my biggest concern is, Dave, I'm 55. I'm 55 years young. I used to listen to Larry Buket, who was my mentor a long time ago when I was in college. One thing that is kind of coming up that I'm worried, and I know worry is not a good thing, and I don't want to worry, is we hardly have anything saved up for retirement. Every time I try, something comes and hits me upside the head. Well, today I'm not going to worry about that.

Today your shortest path to saving for retirement is beat cancer. Okay. You take care of your wife and yourself right now. You just take care of yourself. And this too shall pass and then you're going to have

time to do something. We've got to get these student loans cleaned up. Later on, you're right. We've got to get these student loans cleaned up. Later on, you're right. We've got to get the debt cleaned up and start investing for retirement. But I'm not going to fret and worry over that today. You've got enough to say grace over today, brother. Yeah. I mean, if you put all of your spiritual and financial, emotional, relational energy towards cancer for the next two years, that's an okay thing.

There's nothing wrong with that there is time to do the other stuff after you whip this thing and that's what you got to do you just lean into this that's what i would do if i woke up in your shoes you take care of your wife and yourself and all these other people can get in line they just get in line we'll get to them when we get to them fast as we can get to them. They just get in line. We'll get to them when we get to them. Fast as we can get to them, but they're not in line in front of you or your wife. You take care of your own household first. And you'll get around to the rest of it. And if you need some help further, brother, you call me anytime.

I'll help you. I'm sorry you guys are facing this. Very, very tough year for you coming up. Open phones at 888-825-5225. This is why you do this stuff. The stuff that we teach, biblically based, grandma's common sense, what the Bible says about money, is the only set of principles,

the only set of principles on the planet that work when times are good and when times are bad. They're the only things that work when the economy's down, when the economy's up. The only things that work when there's a hurricane in your house or when there's prosperity in your house. They work both times. This is the Dave Ramsey Show. luke is with us in kentucky hey Luke, welcome to the Dave Ramsey Show. Hey, how are you doing? Better than I deserve. What's up?

Me and a couple of my friends were thinking about starting up our own business, and I was just wondering, in your opinion, what would you invest in or put your money in for the most profit? Start with I wouldn't do it with a couple of friends. I would start your own business. All right. And how old are you? I'm 17.

17. And when I say that, I mean, we're not all going up on it together. We would each have our own branch of a different thing. But just in general, what you think would be the most profitable and smart business to start with. And you're in high school or you've graduated? I'm in high school. I'm a senior. You're a senior in high school, okay. I graduate this year.

So your plan is to start your business after you graduate from high school? Yeah, within six months after, maybe a year, within that year. And what kind of businesses are you considering? We've considered an ATM, snack machines like a whole bunch, branched out around town, some things like that, online websites, e-commerce, buying and selling shoes and clothes, just different things. Trying to have multiple incomes, no matter how little the business would be all of those are things that are pitched to people that want to start a business that have never started a business before

it sounds like you've been reading websites on how to start a business yes not all but yes none of those are mentioned on my videos well yes I understand. Okay, because they're all pretty much things that are pitched to make someone else money, not you money, most of the time. They want to sell you a course. They want to sell you an ATM machine.

They want to sell you a series of vending machines, and that's how you're going to get rich. You're going to be the vending machine capital of the world. So the way you should choose a business is you should look at yourself first and start asking yourself what your natural giftings are and what makes you smile. Because business, when it gets right down to it, when you really start working business hard like I have for 30 years, it's really, really tough. And it's hustle and grind and so you better be doing something you love that you're not just doing for money and so far the only paradigm or the only filter you've looked at these business ideas through is which one you can make money with that's going to get you in trouble it's going to end up um listen get you money. I'm not mad about you having some money.

I want you to have some money. But if you eat enough lobster, it tastes like soap. You want to do stuff that gives your life meaning, not just to collect stuff with. A pile of stuff is not really going to make you happy at the end of the day. But finding something you can pour your life's energy and intellect and spirit into where you serve other people, make their life better, and you get paid in the process rather than just figuring out a way to, quote, make some money and

extract some money from someone else's wallet. That's going to lead you down a completely different path. So hold on. I'm going to send you a copy of our book, Entree Leadership, as my graduation present to you, early graduation present. And maybe it'll give you some ideas and some things to think about along those lines. Also send you a copy of Ken Coleman's Proximity Principle. I'll give you both of those if you promise Kelly when she picks up that you'll read them. All right. Stephanie is in North Carolina. Hi, Stephanie.

Welcome to the Dave Ramsey Show. Hi, Stephanie. Welcome to the Dave Ramsey Show. Hi, Dave. Thanks so much for taking my call. Sure. What's up? Well, I'm an FPU coach and debt-free except for my mortgage. So thank you so much for leading us to that place. Cool. Thank you. Yeah. My grandmother, who was age 100, lived a nice, long, full life. She unfortunately passed away December 14th. Wow. And now we're going through her estate. And in her will, she has left money to our two children who are age five and age seven. And I'm curious as to what we are to do

with that money because we're supposed to hold that until they are of legal age. I wasn't sure if we put that into a savings account. Do we put that into a trust? What should we do with that? I would put it in mutual funds mutual fund and their name is it something that we put in their name and our name because we're well it goes it goes into and a minor cannot open a bank account or a mutual fund and so a minor you open the account in your name but it's technically they are the owner and you're called the custodian it's a custodial account a uniform transfer the miners act is where you in a utma account and so um if you open a checking account a savings account a mutual fund it all falls into that

that act to where you are acting on behalf of the minor. The money is in their name, but they're not in control of it. The custodian is in control of it, and thus you can open a mutual fund or a bank account or whatever. When they turn 21, the money will be theirs automatically. Not 18. 21 on that. And between now how much money did she leave them

it's a percentage of her overall estate and we're still going through the probate process and all of that it looks to be about $24,000 for each child so it's not $2.4 million but it's a really nice gift

that she left them and the kids are little and so they're probably going to have 100 grand when they when they get to 21 if you invest this in mutual funds and that'll take care of their college um or something like that if you wanted to and so the other thing that i would begin to do is age appropriately i would begin to let them know that that money's there. And that means when you're five years old, you don't talk about $24,000. They can't get their brain around that.

But you can say, Grandma left you some money, and I'm going to be managing it for you, and we're going to be talking about it as you grow up. And then as they get a little bit older, when they're 12, 14, we open up the mutual fund statement, and we show them how it's calculated and what it's worth and how it's grown due to you having invested it with a SmartVestor Pro. When they get 15, you sit them down with the SmartVestor Pro. All along the way, we're talking about this isn't really your money. You're just managing it for God, and so you have to be a good steward. You have to be wise. You have to be responsible.

This is not an opportunity for you to move to Costa Rica or something. This is not an opportunity for you to do drugs. This is an opportunity that your grandmother has given you for you to go to school or for you to have your first home or something like that. We're going to be very kind and very responsible, very firm with this money and um in other words i didn't spring on my children when they turned 18 or 21 that they had money i groomed them into grew them into the knowledge of it to where they were comfortable with the conversation and in increasing detail and with increasing weight and responsibility as they aged and that's what I would do here.

And I'll send you a copy of the Smart Money, Smart Kids book that Rachel and I wrote together that was a number one bestseller. It's how parents should teach their kids how to handle money. And it teaches your kids, you know, how to handle money so they don't live in your basement later, right? That's the idea. So Smart Money, Smart Kids. Hold on.

I'll have Kelly pick up and give that to you. I'm just giving away books like I'm freaking Santa Claus here, but that's all right. Kelly's just shipping them out. She's got a little shipping room back here in the back of the studio. That's all right. It's okay. That's the answer to everything's in a book.

I just really do believe that. It happens to be I wrote a few of them. But, I mean, I'm always said if you want to know something, go to the library and check out a book on it. You know, you can learn about it. Nowadays you Google it, right? But back then we went to the library and there was like a, uh, the Dewey decimal system and a card system to find the file and all that stuff. But now you, it's all of course on the internet. You don't even have to go to the library, but learn something, learn something, grow. That's why I'm always reading and always teaching you guys to always read. Whether it's our books

or someone else's, obviously. That's how this stuff works. Very cool stuff. Very cool. A godly man leaves an inheritance to his children's children. A hundred-year-old grandmother leaves

$25,000 each to her five- and seven-year-old grandkids. Oh, that's so pretty. I love that. This is The Dave Ramsey Show. We'll be right back. great content on our YouTube channel. Catch the most watched Dave Rantz, Deathly Screams, and the very popular Everyday Millionaire segment. Go to the Dave Rantz Show YouTube channel and click subscribe.