The Ramsey Show - App - Don’t Take Financial Advice From Your Broke Friends! (Hour 2)

Episode Date: September 5, 2023

Live from the headquarters of Ramsey Solutions, it's the Ramsey Show, where we help people build wealth, do work that they love, and create actual amazing relationships. Jade Walsh, all Ramsey personality, is my co-host today. Open phones at 888-825-5225. You jump in. We'll talk about your life and your money. Mike is with us in Wilmington, North Carolina.

Hey, Mike, welcome to the Ramsey Show. Hi, Dave. Thank you so much for taking my call. Sure. What's up? I have my wife and I have been talking. We're considering selling our home. Of course, the prices on the houses just skyrocketed.

And so we could put a lot of money in our pockets. So right now we owe approximately $243,000. That's a mortgage and a HELOC. And our total debt is a little over $299,000 in credit card. We've got a little over $5,100 left on a car and a personal loan from a family member from a few years back of like $26,500. So we're paying on all of that every month. So total debt, a little over $299,000. $243,000 of it is the house. We talked about possibly selling the house because after selling the house,

paying the fees and closing and mortgage payoff, HELOC and everything, and then paying off all of our debt could be completely debt free. We would have approximately $207,000 in cash. We could set aside $30,000 for emergency fund for six months and still have a pretty good lump sum that we could put away somewhere for a year until we decide what we want to do and find another house for a year or two.

How much do you make? What's your income? My income annually, I'll say monthly, is $11,500, but that's not every month. I work for a utility company, and so spring and fall, I make a little more. Other times, it's straight 40 hours a week. Does your wife work outside the home? The average is out hours a week. Does your wife work outside the home? Does your wife work outside the home? She does not.

So your household income is around $130,000, right? Yeah, $130,000, $135,000. And you got about $50,000 of non-mortgage debt. Do you not like your house? I do like the house. It's in a nice location and convenient to everything. Does your wife like it? We got the house at a good deal. Yeah,

she likes it. We fixed it up the way we wanted it because it needed a total remodel. I have a theory. I have a theory. Can I tell you my theory? Yes, ma'am. I think that you're kind of trying to get around what it might take to pay off $57,000 of debt. And I think in your mind, the easiest route is because real estate market's up, we can sell our house, we can get this money, we can knock all these things out quickly. But I'm not sure that that's going to be the solution to your problem. We can knock out the HELOC. We can knock out this personal loan, knock out this car, save up our money. It's kind of like a quick fix.

But I'm looking at your income and I'm like, wow, if you love the house, you fixed it up the way that you want. Why not just walk through the process of budgeting cutting down your lifestyle to nothing sacrificing and just paying off this fifty seven thousand dollars of debt with intensity then you'll walk through the process of saving up three to six months of expenses make 135 put 30 a year on it for two years you're done you're done and you get to keep the house that you've made exactly the way you want it. And here's the side benefit of that. You will have fixed the guy and the gal

that caused this mess in the first place because they will have learned to quit using the stupid butt credit cards or borrowing to buy a car and for God's sakes, won't be borrowing from family ever again. Because, I mean, if you learn to live on less than you make dramatically to pay off debt, it changes the person in your mirror, which is your long-term sustainable fix. The house thing doesn't change the person in your mirror.

And if you don't change your habits even after selling the house you'll be back in debt in five years that makes sense to you yeah it does there were there was some little background behind that my wife and i actually divorced a little over a year ago we were separated three and a half years ago. We divorced a little over a year ago. We both came to a realization that we're better together. I went to a Christmas play last year, and it said, there's nothing too broken or too foregone that God can't fix. And we— God healed your marriage, and you're back together?

We got back together. Wow. Very cool. Yes, that is very cool. That is awesome. Yes. How does that? That's a beautiful story.

How does that keep you? It would seem to me like that equips you to do hard things together. It does. Absolutely. Yeah. Instead of. So let me ask you this in that context maybe we keep trying to read your mind that's not fair but um in that context are you just trying to do something nice for her get rid of this stress without her having to feel it

the stress is more distress is more on me because i am the one that works outside the home and i see yeah but you you want to clean this mess up without causing this lady that god gave back to you any inconvenience either that or this debt represents the past be able to have this money set aside to basically so we can start leaving i'm i'll be 58 years old and and um yeah i want you to take two years and when you're 60 you're debt free except your house that's what i would tell you i mean and we already but when we divorce we never split up anything so everything is still in both of our names i still have the ira good with three rental properties in it that's paying income into the ir worth over like 1.2 million. Even more reason to pay this off in less than two years. Even more reason.

Now go ahead and drop a three rental property bomb on me at the end of the call and I don't know what to do with that. Okay so except it's an ira so you can't touch it so we'll just keep moving but uh yeah if i was in your shoes i would grab her by the hand and say honey we just finished one hard thing let's do one more hard thing and let's roll up our sleeves and live on nothing for the next 18 to 24 months and be 100 dead free except our house get rid of the family loan praise god thank you jesus whoa you rid of the family loan. Praise God. Thank you, Jesus. Whoa. Has anybody ever said family loan and it made you feel all warm and fuzzy? Not.

Gives you the heebie-jeebies. Yeah. Yeah. Yeah. Wow. That's not good. Just lost two more hairs. Oh, my gosh. Got to go through the process, Dave.

That's what I would do, man. And hang on. We'll sign you guys up for Financial Peace University. We'll be part of the next chapter of your marriage, growing and healing, and show you guys how to work this stuff together. It will work. And I personally, unless you hate the house, I would definitely not sell it. I would fix the guy in my mirror and get this overspending down and cause it to be underspending and use it to get out of debt. Well, a week from Friday and Saturday, we'll be in Chicago doing a smart conference. If you want to be smarter, we'd love to have you. We'll actually be up north of Chicago up at Willow Creek Church.

That's the venue that we're using. They're letting us come there and do our smart conference on Friday night and all day Saturday. We'd love to have you if you're in the Chicagoland area. Jade will be there speaking. George Campbell, Rachel Cruz, Dr. John Deloney, Ken Coleman. We're going to be talking about every area of your life It is a wonderfully entertaining Friday night and all day Saturday You will leave inspired and informed and smarter That's right

What are you going to be talking on this year? I'm going to be talking about reclaiming your freedom from debt There you go, okay Which is what you did That's right Exactly Smart Conference Chicago Go to ramseysolutions.com slash events.

You can still get a ticket, I think. So check it out. I think you can still get in. We'd love to have you make a plan. Jill is with us in Dallas, Texas. Hi, Jill. Welcome to the Ramsey Show. Oh, hi, guys.

It's a real honor to talk to you. I need your math skills, Dave. I have an 18-year-old granddaughter who's in her last year of high school and wants to go to college. And I just found out that her father is refusing to pay any college fees for her. And I'm devastated. So I want to set up an account, possibly in a mutual fund for her. I don't have a lot of time. I have about a year to graduate next spring and then go to college a year or so. And I was wondering what kind of mutual fund I could put it into to gain the most, whatever. Not enough to fix this. No. How much would I have to invest? I have some money. Okay. Let's stop a second. 17-year-old step-granddaughter. Yes, but I raised her. You raised her?

Yes, from the time. Her parents weren't married, and my husband and I did a lot of babysitting and practically raised her and helped them out tremendously. And I don't regret helping her out. I love her. I wasn't questioning that. I was just trying to get, understand what's going on here. And so you've, you've been in the family for 20 years. Oh, more than that. Yeah. But since she was born, right. Uh-huh.

Okay. Um, so the stepson doesn't want to help or just can't help her dad he's he's got a lot of problems he's a narcissist my husband passed away three years ago that was his father and left him some money and he's blown off he's blown through it he has no money left and he's had another child and he's not married so trying to get help from him is not going to probably work okay so this is not a complete family unit that you're interfering in more like a splintered family unit and you've been the one holding it together you and your husband before he passed right exactly my um the the mother of my daughter of my granddaughter i've been in touch with her she She and I are fine. How much can you devote to her college? Well, I have quite a bit of money put away from my old age,

and I'm hesitant to put that out. What's quite a bit? I have about a million won. Okay, that's good. Well done. Yeah. So how much do you want to devote to her college? Well, that's what I kind of needed to help you help me with i am let's pretend

that we didn't try to invest our way out of this in one year which is called called desperation and sets you up for a get rich quick or get get scammed or something we're not going to do that let's just try to get a plan together and pay for this kid's college all Okay. So the average in-state tuition, what state does the child live in? She lives in California. She is talking about going out of state, but I'm not sure where yet. She doesn't know yet. She's at about average grade. At the very least, we can start with.

Can she move in with you? Well, I'm going to be there in a couple of weeks and talk to her, yes. And I was going to ask if she wanted to entertain that. Yeah, I want her to have Texas residence. And you need to find out what that means for the University of Texas at Dallas. Okay. Because it's not a bad school at all. No, not at all.

And not Austin. I'm talking Dallas. She can live with you and go to there and get a great education yeah that was in the back of my mind and like i said i'm going to talk to her and her mom in a couple weeks okay so here here's the here's the thing school choice is 90 of the problem with student loan debt. Yes. People pay stupid prices to go to stupid schools and study stupid things, and they get stupid. Okay?

So let's don't be stupid about education. This is a kid from a splintered situation. Her step-grandmother, for God's's sakes her fairy godmother is stepping in to fix this guess what you're going to use that muscle to force her to make good choices for her own good good choices is reasonable college tuition out-of-state tuition by definition is not reasonable in this situation. Okay. You are paying for nothing except you crossed a state line.

It has absolutely zero value. Zero. One of my kids applied. We live in Tennessee. When they were college age, applied for and was accepted to the University of Mississippi, which is a wonderful little SEC school. No problem with it at all only it's three times the price of the university of tennessee because it's across a state line so instead of today's world instead of uh twenty five thousand you pay eight thousand to go in

state to basically the same school just a different color on the football jersey, okay? Well, and some play better football than others. But anyway, but aside from that, right? So, you know, the number of people that have applied at Ramsey, we have 1,100 folks working here, that we did not hire because they went to the University of Texas at Dallas versus the University of Timbuktu across the state line is precisely zero.

As a matter of fact, we count it towards your wisdom and count it towards a badge of honor to get hired if you used some dadgum sense while getting your degree. Does that make sense? Right. So this is what you put your little arm around her little neck and explain life to her granny's gonna pay for this but you're gonna do it granny's way and then you can get through this for she can go to community college for two years if she wants to probably pay nothing get her get her requirements out of the way or core stuff out of the way

and you can get through this for under 50 grand well that would be great no it's not great it's factual yeah but for me it would be okay yeah yeah you can handle 50 grand out of 1.1 and you would you do that in a heartbeat but am i going to spend 150k for her to get basically the same education through a series of stupid butt choices at other places no no no she does not need a lazy river some of these stupid butt schools have a lazy river you can ride through in an inner tube yeah this is how stupid but this stuff has gotten she just is uneducated regarding this and i'm going to have to educate her well these are the let me tell you in our stuff that we've studied and jade we've talked about this a lot um anthony o'neill that was a ramsey personality african-american guy for a long time we kept he kept saying it was african-americans that were running up uh student

loan debt uh uniquely in ridiculous degrees and i said no that's not it i don't buy that and so we got to digging into it and he and i were digging into the research and what we found was just exactly what you described it has nothing to do with skin color it has to do with first generation to go to college yeah whether you're you know whether you're a hillbilly like me or african-american first generation to go to college doesn't have college educated parents to guide them through the stupidity of higher education that's true and so they end up spending 250 000 getting a degree a master's degree in sociology so they can work at the state making 38 000 as a caseworker which is dumber than crap i've listened to you guys a long time talking about this and it really upset me when i first heard that she was going to take

out student debt no she's not she's got a grandmother's not gonna let her yeah i'll take care of you but you're gonna do it my way no debt we're gonna choose a school that is reputable and a good solid education okay great advice great advice thank you so much thank you you can do this you're a good lady i will i will take control for her sake take control of it don't don't be acquiescing to 17 year olds wishes that you're not you know she don't even though i'm your fairy godmother you get no wishes this oh that's a line this is the ramsey Show. Jade Walsh, all Ramsey personality is my co-host today in the lobby of Ramsey Solutions on the debt-free stage. Tim and Karen are with us. Hey guys, how are you? Good, good.

We're great. Welcome. Where do you live? We live in Detroit, Michigan. Ah, cool. Welcome to Nashville. Good to have you guys. And all the way here to do a debt-free scream. How much have you paid off? $80,000. All right. How long did that take? About five years. Good for you.

And your range of income during that time? I think we were at $36,000, and then now we're at $88,000. Good for you. Well done. What do you all do for a living? I'm an apprentice for for uh for uh for an electrical company and um i'm in i'm in finance okay great great very cool what kind of debt was the 80 000 uh school debt um a lot of it and then uh credit cards and car payments very good good

for you guys way to go man i'm proud of y'all very well done thank you all right so you paid off everything but the house well we don't have a house yet you don't have a house okay so you're renting you're 100 dead free right now yes way to go very good five years starting out making 36 000 bucks how long y'all been married 25 years years this year. So that's kind of why we came to Nashville to see you, but also celebrate 25 years of marriage. Amen. Amen. So at 20 year mark, you're in debt 80 grand. This sucks.

Yeah, we did stupid. And you're going, I don't like this. So whose idea was it to make this change? And how'd you guys do this? And how'd you connect to ramsey uh well i'll let my wife explain that well uh we first heard about dave ramsey um from your parents about 23 years ago uh from my family but we thought you were a pyramid scheme ah okay and we no we only sell snake oil and then um fast forward to about seven i believe seven years ago i was talking to a friend

and um uh shout out to helen and charlie um we were talking and she was talking about she read your book and um she was talking about how they were going to get out of debt and they were going to become millionaires and i was like what you joined the pyramid world are you talking about i wrote i thought it was just i thought it was a scam yeah and so uh she said those of us in finance we have a high degree of spiritual cynicism which is a good thing i agree with you i would have thought we were a scam too yeah so um so she said you got to read the book and um so we actually watched the dvds um read the book and we drank the kool-aid and um and we've been crazy ever since all right i love that you watch dvds That's great. Yeah, that was five years ago. I mean, yeah. That I'm VHS, I guess.

There we go. Yeah. Come on, Jade. I just haven't heard that word in a while. It's great. Yeah. That's wonderful. What happened with your income?

It went from $36,000 to $88,000. What happened there? So I was a stay-at-home mom for 17 years. We have four adult children now, but of course back then, seven years ago or so, they were smaller, younger. And one of our sons is special needs. He's high functioning and he's doing great now, but at the time he couldn't be home. He couldn't be alone. And so we decided that I wanted to go back to work. But we had a unique situation because he can't be home alone. He can go to school, but somebody has to be home when he's home and with school schedules and working eight to five, we just, we were looking for an option. And so I went back to school, got my degree,

went back to school or went back to work full time. By then he had matured enough that he could be home alone. So he's doing great now. That's awesome. So I went back to work and did lots of side gigs. Love it. Bigger shovel. And you guys over doubled your income between the two of you.

We sold everything. I told the kids if they stood still long enough, I would sell them. There you go. I like it. I like it. Wow. Way to go, you guys. Side gigging is a real, people don't realize, you talk about it, but there are so many side

gigs out there oh yeah um what was the best one that paid the best for you you need your tail rob well we did i used to um when i was in school i was i was wanting to be out of debt so bad but i felt so limited because i i didn't feel like I had a marketable degree. We, we both graduated from college 25 years ago, but with degrees that were not marketable. And so that's why we had most of this debt. And, um, and so I felt so, um, I didn't feel like I could offer much because I couldn't, yeah, I felt hopeless because I couldn't. Kind of hopeless. Yeah, I felt hopeless because I couldn't, we couldn't leave our son. And so I would be taking the kids to school and it would be trash day. And I would see people's trash on the side of the road. And I said, I can pick that up.

And we started doing that. And we had multiple yard sales sales we would fill the garage up and we would pull it all out and we wow we sold other people's trash one man's trash another man's treasure so that was really that was really not major the that's your best side gig no that probably wasn't the best probably my best side gig is um i do caregiving on the side i i love that's that i love taking care of the elderly um i don't go into the nursing homes. I just take care of them in their home. So that's probably the best. And then the other one is probably,

I also iron for people on the side. I love it. Interesting. So you literally go pick up their house, their clothes from their house, take them to your house, iron them and re-deliver them. Yes.

Wow. That's a service i might that's uh that's very very yeah yeah a lot of people it's like cooking they don't know how to do it anymore yeah because we have these things called restaurants that ruin to the kitchen yeah well it just goes to show where we open a box where there's a will there's a way way. Way to go, you guys. I mean, picking up trash, ironing people's clothes. Here, here. Okay, 80,000 in five years. What do you tell people the key to getting out of debt is?

Congratulations. Thank you. I think that it's when you live according to God's design and you don't try to make life work apart from God. I mean, because when you do, you just get frustrated. And God has a design for everything. And so he has a design for money. And if we just do it his way, he blesses.

Amen. We've always made tithing a priority. You have to tithe. You have to put God first. Because when you do, blesses you you talk about when you know that when you're responsible with your money god looks down and god sees that you're being and he blesses you and we have yeah we're stewards of what he gives us and we ought to be a good steward and then he just blesses that you know then we're blessable you know and

when you're not blessable you know you know you make life work your way you know it it doesn't work you can go into debt amen amen well done well done well certainly the uh the videos you watched are all biblically based as you know and so uh yeah stuff like get out of debt the borrower slave the lender there's a principle right there you know which you guys did so fabulously now we did see a video of you on youtube about like 30 like years ago where when like you had hair so you know yeah that one's been that one's been going around i was yeah it's not real here more of a little comb over actually but uh it was the last vestiges before it gave up the ghost yeah Yeah, I was like 30-something years old.

Yeah, 32 years old or something. Yeah, it's crazy. It is 30 years old, that video. Wow. When I first started doing this stuff. All right, guys, way to go. Hey, we got a copy. We got the Live and Give box for you, Baby Steps Millionaire's book.

That's your next stop. And Total Money Makeover book, as well as the Financial Peace University membership. Live them or give them. All of that. Way to go. Very proud of y'all. Thank you. Congratulations.

Thank you. All right. Tim and Karen from Detroit, Michigan. $80,000 paid off in five years with their income. Get this. Going from $36,000 to $80,000. Whoop, whoop. Don't tell me it can't be done.

No whining making $136 after this call. Jump in. Count it down. Let's hear a debt-free scream. Three, two, one. We're debt-free! Yeah! Yeah!

Yeah, baby! Yeah! This is the Ramsey Show. Jade Walsh, all Ramsey personality, is my co-host today. Our question of the day is brought to you by Neighborly, your hub for home services. Neighborly is your one place to find reliable HVAC, plumbing, and electrical providers near you. Brands like AirServe, Mr. Reuter, and Mr. Electric have local professionals ready to help. So stop wasting time scrolling through the pages of results. Visit neighborly.com today.

They're great folks. All right, today's question comes from Terry in Maryland. My husband and I have a HELOC with an adjustable rate. It started at 3.5 last year and now it's at 8.5%. We owe $57,000 and our current monthly payment is approximately $750.

We began paying an extra $500 toward it a month. However, this impacts our lifestyle and ability to do the things that we love, such as travel frequently, as well as other home improvements. Total owed with HELOC and mortgage is about $429,000. Our household income is $275,000. Our only other debt is a boat payment that we also make extra

monthly payments on. I'm trying to do my best here, Dave. Is it best to continue paying extra on the current HELOC and hope the rates drop or find a loan with a lower fixed rate, fixed interest rate, which may end up being higher than the adjustable rate in the future? Our goal is to pay this off ASAP, yet the 8% makes this difficult. By the way, my credit score is 800 plus. This is not, be gentle, this is not a long-time listener. No, this is not a long-time listener. Long-time listeners don't close with their credit score. That's a good point.

Unless it's zero. Dave, thank you, Dave, because you gave grace. And now I shall give grace. I was making fun of him all the way through the whole email. But there you go. I'm going to give you grace. Okay. You are a first-time listener or an early listener to us. You've gotten yourself in a mess.

The good news is you've got a great, great, great, great income to get yourself out of this mess. I probably would not move the HELOC for now. I'd keep it right where it's at. What I would do if I were you is I would start working our plan. You've obviously found us. You trust us enough to write us a letter, right? So I'd start working through this. I want to know more about them them dave but i'd try to bust that income down to living on about a hundred thousand a year and i'd be taking the majority of it 175 000 a year paying off this debt and i'd probably be trying to be debt-free house and all one year pay off the heloc of 57 000 pay off the boat we don't know how much the boat is but pay them both

off in one year for god's sakes you make you make $275,000 freaking dollars a year. Yeah. Your mortgage could be gone in two and a half years. They might not be able to. Listen, one of the things I had to do was, in order to get out, in order to stop being broke, was I had to stop the whining. Yeah. That's so real, Dave.

Because I can so whine to myself about how I work so hard. I'm entitled. And my wife would look at me and say, show this everyone. Call the wambulance. I love Sharon. Oh, she's tough. She's great. She's mean. she's hateful and stuff like that no she's great just bust your bubble man so i had to learn to talk to myself terry so i'm gonna talk to you that way call the wambulance about your little travel plans yeah you have a

freaking boat you didn't even pay for. There's your travel plan. So go out on the boat since you already have it. That's your travel plan. That's it. You can't do anything else. You're not allowed to leave because you have to pay off your debt in one year. $57,000 plus the debt minus $275,000 is still a lot of freaking money. No whining allowed. No whining.

It's going to go by so fast. Clear this up. Quit trying to figure out a way to interest rate trick yourself into spending more than you make congress has tried it for years and it just doesn't work let's talk about the credit score okay why not why not because to close with that oh and by the way my credit score is 800 plus all that indicates to me all that indicates mathematically is that they possibly plan on using that credit score more in the future oh if you're touting that that lets me know okay this matters to you you want it to be right so that possibly in the future

you can use it again there's only one way to get an 800 credit score only one way what's that dave borrow a lot of money and pay a lot of interest when you pay it all back on time. And that's the only way. This means you have been playing make out with the bank in the backseat of the car. That's what the credit score means. Okay. It means you've been playing kissy face with the bank. That's all it means.

It does not mean you have a net worth. It does not mean you have a net worth. It does not mean you have an income. It doesn't mean you have nothing. But you've been kissing the bank all the time. And the bank is a butterface. You know what that is? No. I can't talk about this on the video.

Good. Just keep it there. It means everything looks good but their face. Oh, I got you. I got you. Now I understand the meaning. The bank is hiding the true yeah yeah they all look good at closing time okay um so there we go yeah oh my gosh oh my gosh here we go just add that to your yeah this is getting worse we got to clean this up

we this is a family show all right. So here's the thing. The point is. The credit score is 100% derived by your interaction with debt. So bragging about your credit score is like, I love debt. I love debt. I love debt. That's why Jade is saying she thinks you're going to go back in debt again. So if you want to do the stuff we teach, which is designed to get you into wealth and peace as fast as possible, the shortest right way, then what you'd have to do is get yourself out of debt and limit your lifestyle to do that.

And so this is about growing up. It's about adulting. Children do what feels good. Adults devise a plan and follow it. So don't be playing kissy face with the bank anymore. You're not going to borrow your way out of this. You're going to pay your way out of it. Thank God you have a fabulous household income.

Fabulous. And you don't have a lot of debt. But you do have a lot of symptoms of somebody who's getting ready to make a huge mess. That's right. I mean, we just heard a debt-free scream making 36 000 they paid off 80 000 making 36 000 yeah and it took five years of sacrifice you've got maybe 12 months maybe yeah we don't know how big the boat is you know that's true we don't know how big the boat is. But at least the heel lock. There we go. That's it. That segment will go down in infamy.

Open phones at 888-825-5225. Jessica is in Georgia. Jessica, how can we help right quick? Hi, yes, thank you so much for taking my call. I've been a long-time listener. Actually, ever since I was a kid, we would listen to you on the radio oh thanks and um yeah yeah so we really my parents would even be like okay after that episode what did you learn um yeah and i'm just excited that actually i have something i really love your advice on um we've been really just diligently praying and trying to steward our finance as well. We have $300,000 in cash in the bank, and we are trying to decide, do we invest this

money into the market since the market is low? Way to go. Statistically, it should increase in the next couple years. Or should we buy a house in cash? Now, you've been listening to the show since you were a little bitty baby girl. And you know the answer to this question. I actually have some very early memories. You completely know the answer to this question.

I know. You completely know the answer. Do I buy a house in cash? You know the answer. You know the answer. What's the answer, Jessica? Buy the house in cash. All right. Ding house of cash ding ding ding ding you get the prize is it painful does it feel you know what happened is you got some idiot friends that haven't got

300 000 but they do have an opinion yes ding ding ding ding ding ding people yeah don't take financial advice from your broke friends we have Don't take financial advice from your broke friends. Don't take financial advice from your broke friends, and don't take financial advice from TikTok unless it's one of our accounts. But other than that, you should ignore all TikTok advice. Yeah. Yeah, because it's all short-term thinking. It's all brought up by adolescence.

Yeah. And so long-term thinking, pay cash for your house, take what would have been a house payment and go get rich with it. Ooh. Very quickly. Very quickly.

She's young. To have a paid-for house. I don't know where they got the 300 grand. I don't either. Oh my God, that's incredible. Beautiful, beautiful.

Well done. Well done. Hey, call Terry in Maryland and tell her how to do this. This is The Ramsey Show. Dave here. You can find all of our shows with the Ramsey Network app on your smartphone. It's the only place to listen to the entire back catalog of episodes. Download the Ramsey Network app in your favorite app store today.