The Ramsey Show - App - Draw a Line in the Sand and Don’t Borrow Money! (Hour 2)

Episode Date: October 26, 2023

Девочка-пай Live from the headquarters of Ramsey Solutions, this is The Ramsey Show. It's where we help you win in life, specifically with your money, in your relationships, and in your work. Thrilled to have you with us. I'm Ken Coleman. Jade Warshaw joins me. The phone number to jump in is 888-825-5225. That's 888-825-5225. Let's get it started this hour with Kendra, who is in Denver.

Kendra, how can we help? Hi, how are you? Good, Kendra. What's going on? I just got married about a month ago. Oh, that's exciting. Way to go. Thank you. We combined all of our finances, and we had a plan to pay for the wedding,

and that plan did not go accordingly. So we ended up going into a bit of debt on top of some pre-existing debt. So now we're just kind of looking for advice as newlyweds to start it off right and get out of this. What happened? We were living with family, so we were able to set the money aside. We weren't really paying rent and that plan faded and we ended up moving out and getting into a house which of course in Denver the rent is skyrocketing wait y'all went y'all up and bought a house uh we actually rent a house okay okay yeah so how much that kind of

took our wedding budget away somewhat, but we weren't really willing to compromise on the wedding, which was not a good financial decision by any means. So we went into debt. Oh, how much money did you take a loan out for this wedding? We took about $32,000. $32,000 for a wedding? Yeah. Please tell me it's not on like credit cards. How did you pay for it? We did, we started with credit cards and I did have some savings, so we paid for part of it as we went, but $32,000 is actually on personal loan. Wow. What did you spend that on? I'm just curious because I've been married a long time and I had no idea weddings. I know that they can be outrageous, but what did you spend the money on?

I got to know. The venue by itself was about $7,500 and that's no service or anything, just the building basically. Okay. Photographers, videographers, that's all. This is gracious i wondered if you just rented a shrimp boat to bring the shrimp in for the reception it was so expensive right my gosh so you had you had some money you had some money that you paid cash with and this is the 32 000 wasn't the overall cost of the wedding that was the overage

that you went into debt for correct so i mean I think our wedding was budgeted at right about $35,000 total. So, you didn't spend any of your real money. Well, we had some pre-existing credit card debt. So, we were paying for stuff kind of as we went and paying that off as we booked vendors. Okay. Well, so much for the honeymoon period. Oh, gosh. Because now you're going to have to bust it to pay this off.

Yeah, no kidding. Yeah. Okay. There's a big red flag here for me. Like there's something that's glaringly like, doink, doink, doink, like glaring its red light. And it's the fact that early on you guys were hit with a a fork in the road like do we lower do we lower our budget and get what we can afford or do we just say to heck with it and you know put the pedal to the metal and go into debt right um yeah so i'm worried because and and i'm worried too that

there was credit cards involved and all this stuff so you guys have a a mental mind shift that must happen um do you see what i'm saying that's the bigger in our spending yeah so that's that's almost a bigger deal for me in this moment than the debt is you guys looking at each other and going okay how do we want to live our life from now on like what type of people are we going to be uh what type of adults are we going to be when it comes to money are we getting this is a conversation this is the next date night are we going to be the type of people that we see um a vacation we want and we see a tv or a car that we want and we go you know what we can afford to just take out the payments i mean we'll just pay off. Or are you going to be the type of people that go,

you know what, from here on out, drawing a line in the sand, we don't borrow money. And that's first and foremost, you guys both need to look at each other and say, are we going to be the people who decide that we don't borrow money anymore? Yep, we have had that talk.

And what's the answer? I think we're on the same page. You think? From like watching the videos and stuff online whoa whoa whoa I gotta tell you you think you're on the same page? I am on the same page

she is on the page oh I know you are I think you're on the page I don't think he's anywhere near the book he's in a magazine he's in a truck magazine where is he? Is that true? He's not that bad.

He's not that bad. Okay, good, good. So real quick, what's the debt, not just the wedding, total debt, and then what are your combined incomes? Yep. So total debt, I calculated it about, we're just under 90. I think it's like 88,000. Okay. And can you break down the type of debt? Sure. We have two vehicle loans. Those are both about 16,000 each. I have student loans, which luckily is only about 8,000, which is much worse. And then credit cards combined, we have about 16,000 left. And then the personal loan for 32 on the wedding. Who gave you that money?

Just like a SoFi loan or something like that. Oh, okay. You thought personal loan. I misunderstood. Okay. And what's your combined income? Right now I'm estimating about $130,000. All right.

So you guys can do this, but you've got to get dramatic with it. You've got to get real dramatic. So you called. What was your question for us? Did we answer what you wanted us to answer? Did you ask it? What can we do here? Really just kind of looking for advice on where to start.

All right, so I'd start with the cars. Do you have any equity in those cars? Not really. You're upside down? I don't think we're really upside down, but we'd probably break even or be slightly upside down, like $1,000 or $2,000, not anything major. You know, so first and foremost, debt snowball. Like Ken is right, I'd be looking at these cards, but first we're listing them smallest to largest.

So the $8,000 student loan technically is first in your snowball. However, well, actually that's not true. Your credit cards, what's the lowest? I'm guessing it's not just one credit card for $16,000, right? Yeah. Okay. One is about a $10,000 balance, but then the rest of them are all pretty small.

Okay, so we'll list them smallest to largest and knock out the smallest ones first. So that's the overarching game plan of this, and that's how you're going to feel motivated to keep going. So tonight, you guys get off the phone and go, okay, let's put these things in order, smallest to largest. That's thing one. Then next, do you guys have a budget? Are you on a budget at all? I've kind of just like started writing stuff down. All right. Well, we're going to make sure that you have, we're going to make sure you have EveryDollar, which is the world's best budgeting app on the planet. It's going to help you guys get control. You're both going to be able to see it. It's going to be on both of your mobile devices, on both of your laptop computers. So you can see it. You're going to be able to of your mobile devices, on both of your laptop computers, so you can see it.

You're going to be able to see your money each day in real time, what's going on with your money. So make sure that Austin picks up to get you that. And those are the two keys. Find out what's going on with your money and find as much margin as possible so you can throw that at the smallest debt. And that's how you work through this debt snowball.

You guys can be clear of this in 24 months. James, Jade, I got to talk about a new idea during the break. Should I spend it? It's calls about wedding budgets, and I'm the judge. Hey, you guys. Health insurance costs are only moving one way, and that way isn't down. And if higher costs aren't enough, the wait times to see your doctor are longer, and it's harder than ever to get anything approved through the bureaucracy. So if you feel like the system is working against you, try a biblically-based alternative to health insurance, Christian Healthcare Ministries. CHM is a health cost-sharing ministry that's helped hundreds of

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Welcome back to The Ramsey Show. Jade Warshaw is alongside. I'm Ken Coleman, and we are here for you, America, talking about your money, of course. And then I'm the work personality here on The Ramsey team. If you think about your income related to work, the environment you're in, the opportunity to grow so that you can increase your income, I'm the guy to take any work-related questions as well. So let's get those in. 888-825-5225. Temecula, California is where Jennifer is. Jennifer, how can we help? Hi, thank you for taking my call. I need some direction and guidance because

I'm feeling a little lost. Okay. So I was in a car accident and received a settlement check and it's $250,000. Okay. So I got into a trade school to pay for my education and I hated it. So I withdrew from the program and now I'm currently looking for a job. I just feel lost. What was the trade? It was an LVN program. Help me out. I'm not, I'm drawing a blank. Nursing. Oh, gotcha. It was just really accelerated and I wasn't grasping the information with how quick the program was. Gotcha. Now, why did you choose nursing? I thought it was what I wanted to do. Why? I've always had a desire to help people. You know, when my grandma was sick it was nice being able to help and now I'm just feeling a little discouraged I'm in my 30s I have a son who's 14 and I need to preserve my settlement so I just I don't know what direction to well I'm going to have Jay jump in on that, on what to do on the settlement and make

sure we maximize that. But I'm curious on this nursing trade school, had it not been so accelerated, maybe different environment? And if you don't know the answer to this, that's okay, but I want to dig on it. Do you think that it would have been a better experience had it been maybe not so accelerated? Yeah. I think after you know, after my accident, I wasn't, I'm not the same. And accelerated is not for me. So maybe something a little more slower. So that's the key, because here's what's going on. You got a lot going on. Number one, you had the accident. There's some challenges with that. Then you identify this trade, you know, going into nursing. I've always loved serving, being a caregiver. Is that a fair description of you, a caregiver? Yeah. Yeah. And so you identify this opportunity,

you get in it, and it's just overwhelming. And you're going through a range of emotions right now, I suspect. One is probably frustration because you had some excitement about it. The other is probably a little bit of discouragement, as you said, because maybe you feel you're not good enough. And I don't think that's true. So that's why I'm locking in on this right now. I don't know that you need to be bewildered because I still think there's a theme here. It may not be nursing or it may be nursing, but it's a different program. I just don't want you to get thrown off course because this was a very difficult challenge and you couldn't meet the challenge. I was never good in school. I was never a good test taker. And yet there's a lot of good things I can do and a lot of good things you can do.

So what about different caregiving options? What about other jobs that are caregiving, but they aren't as nuanced as relates to the training maybe for being a nurse? Have you considered that? I have. Um, I think I'm just trying to see what is out there you know i'm trying to good kind of take this opportunity to be like okay this is a clean slate yes what else is out there what else can i do but it's just it's so overwhelming you know with a child and

what's overwhelming about that right now? Talk to us. I feel just the weight responsibility on my shoulders. You know, it's just scary. Do you have no income coming in? No, since I quit my job. But I am looking. I'm actively looking because that's priority number one. That's what I want for you.

So a couple things. And I want to bring Jade in on this, the settlement, and make sure we don't spin this. But to that end, I just want you to get a decent job where you're valued, it's a safe setting, and you're making some decent money, and you're taking care of you and your child.

And let's take the pressure of picking this purposeful path off the table for now. That's there. I think you're already on the right path, but I want you to just, let's leverage every relationship you have to get a good job with some decent benefits and let's just breathe, okay? Coming out of the accident and everything, Jade's going to give you some great advice on that. Now, coming back off of getting stable, getting the money invested, I want you to then begin to just, because you've got a job, now you begin to look out there,

what are the type of jobs that allow me to be a caregiver? I spend most of my day using what you do best, and you've got some great compassion and empathy for people, probably just a tremendous communicator, listener, and you're going, okay, what are other types of jobs that don't require me to go into nursing? And let's just see what's out there, because what's intimidating, Jennifer, is the fact that you just don't, you can't name for me right now, two or three other options, but I could give you one. So could you work in a nursing home? Nursing homes are always looking for very good people to come in and help probably make some decent money, decent benefits. That's just one option. Doesn't have to be that. Okay. But you begin to identify there are multiple

paths that I can go. And now all of a sudden it's not so scary, but I want to, we're going to give you some resources. I'm going to give you my assessment to get clear work assessment. Jennifer, you promised me you'll take it. Yes, I promise. Great. It's going to spit out some very detailed information for you about you, give you a purpose statement and give you some direction. I'll give you my book from paycheck to purpose. That'll walk you down the path after the assessment, but Jade come in and let's talk about this $250,000 she's got. Yeah. So is everybody fine after this accident? Yes. Yes. There's no ongoing like health or anything like that, health issues? A surgery, but I'm okay now. Okay. Okay. And so let's get a quick financial snapshot. Do you guys have any debt,

anything saved? What's it look like? I saved, I'm a really good saver. So 10,000 in my checking, I paid off my car and credit cards. So no. So no debt. Awesome. Cool. And so what's... No student loans. No student loans, no debt of any kind just ten thousand sitting in your checking account yeah and you're calling that like saved money it's not you know it's not month-to-month money okay no cool um what's your living situation um i rent a room okay um which is 900 so and i'm guessing you so your 13-year-old son is not living with you? Yes, is. Yes, he is?

Okay. Yes. So first things first is, like Ken said, we've got to start looking for a job. And then as soon as you secure a job, I want you to start looking for a place to rent that's not one room, like a nice, a reasonable place for you and your son to live. Okay. And so you're going to start doing that. You're going to start pricing that out. And we're going to choose

something based on what we're projecting our income to be once we land somewhere. Right. So this is going to require you to do some research. OK, because what I want you to do is I want you to kind of walk through, do your best to walk through the baby steps and the ones that you can't quite get to. Let's at least plan for it. Right. So you have no debt. So let's put aside out of that two hundred fifty thousand plus the ten thousand. Let's put aside what we think would be about six months of expenses for you and your son. Once you get an apartment, once you get stable, what you think that will look like. And we're going to put that in a high yield savings account. Aside, don't keep it in your

checking account. Keep it someplace else. And then we're going to get that job and we're going to start looking. Once we get those benefits, we're investing 15% of our income and we're going to start looking once we get those benefits we're investing 15 of our income and we're going to start looking just be in the market for what what it might look like to buy a house one day start doing the math and we're going to put some of that money aside and then we're going to work with the smart investor pro on the rest of this money um austin will pick up and help you get connected with the smart investor pro because i want this money out of sight out of mind gaining interest for you so it's there for you when you need it upon retirement good and help you get connected with the SmartVestor Pro because I want this money out of sight, out of mind, gaining interest for you so it's there for you when you need it upon retirement. Good stuff.

We're rooting for you. You're going to get there. I promise, Jennifer. You're a brave single mama. Love the single moms out there that are doing so much. We're here for you. This is The Ramsey Show. Welcome back to The Ramsey Show. Welcome back to The Ramsey Show.

We're coming to you from our worldwide headquarters just south of Nashville, Tennessee. I'm Ken Coleman. Jade Warshaw is with me this hour. The phone number to jump in is 888-825-5225. And out in the lobby, by the way, we have a fabulous studio audience today from all around the country hanging out in the lobby. And we invite you to come anytime you'd like to watch the show. And on the debt-free stage in the lobby, next to the fabulous audience that I was talking

about, are Chris and Amanda. Welcome, Chris and Amanda. How are you? Good. We're doing great. Where are you guys from? Rochester, New York. Rochester, Chris and Amanda. How are you? Good. We're doing great. Where are you guys from? Rochester, New York. Rochester, New York.

All right. Did you see the guy over there with the Bills shirt on? That would be my father. Okay. All right. Good. Got a member of the Bills Mafia in the lobby, so that's always exciting. All right.

And you guys are here because you paid off some debt. So tell us, how much debt did you pay off? We paid off $48,835. Yeah. Wow. And how long did that take? It took us 11 months. Oh, wow.

Getting after it. And tell us your range of income during that time. We started out around $72,000. By the end of the journey, we were down, we got up to $90,000. Way to go. What did you do to bump it to 90? A lot of overtime. What do you guys do?

I'm a mail carrier for postal service. Nice. And I'm a stay-at-home mom, so he's really been working so hard for our family. That's awesome. So were you a stay-at-home mom through the whole 11 months? Yeah. Wow, way to go. Thank you.

That's something. That is something. All right, so what happened? What was it, 11 months ago? What happened to make you guys get on this journey and you to work so hard, Chris? Well, it all started with a whole life policy. I actually was at work, and I was loading the truck up next to a coworker

who I had mentioned that I was leaving early that day to go sign the paperwork for the whole life insurance policy. And that's when his eyes lit up and went big and said, you got to stop doing that now. You got to listen to this show and read this book. And I was a little, you know, yeah, all right, I'll give it a chance. So I would listen to the show for a couple weeks before I even mentioned it to Amanda or anything. And then once I read the Total Money Makeover, it was game over.

And that's when I came home to her. Yeah, he came home and he's like, I've, you know, I've never made this much money in my life. This is the most I've made. And I'm hitting a wall. I'm working 40 to 60 hours. We don't see each other. Like, we can't, I can't keep going on each other. I can't keep going on like this. We can't keep going on like this.

We need to do something. And we were taking out of our savings to pay for bills and do things every month. And we were living paycheck to paycheck. And it just shouldn't have been that way. Working too hard to feel that broke, definitely. We were just spending too much money. By the end of the month, we had a nice savings we thought but uh we were just draining it every oh wow so every time you stack up the money you were pulling it back out for bills yeah we we got a tax return and

we kind of put that away into the savings yeah and we that was going to be our account of vacation and stuff. Yeah. But then every month it was just too much. So then when Chris comes home and he's like, hey, I have the solution for all of our problems. It's a guy on the radio. What was your reaction to that? Were you like, yes, I'm on board. Say less. I'm doing it. Or were you like, wait a second.

I'm like, what are you talking about? Like, who's telling you that, you know, like, of course, I was kind of like questioning and asking all the questions and not like completely, you know, I hit and then he brought the book home and I didn't read it. Sorry, but I hadn't read it. But then like I, you know, I didn't want to see him so frustrated and like stressed out and I was feeling it too. And, and so I was just like, well, you know, tell me more about it and let's do this.

I'm on board. I love that. So what kind of debt was this anyway? There was six credit cards and two cars. Two car loans. Yeah. Six credit cards. Wow. Did you sell the cars or did you pay them off? No, we paid them off. Nice. Yeah.

I still got the car. Okay. Very nice. My parents were like, we want to help you. Let us like, we're alive right now. We have the money. Let us give you the money. And I'm like, no, I don't want to help you let us like we're alive right now we have the money let us give you the money and i'm like no i don't want to take money from you and we actually had like gotten or like transferred our balances over to like zero percent credit cards and we were going to start doing it that way and pay off as much as we could and everything and then we found this and you realized all that was just a run around. Now, I heard you say, Chris, that you were already working crazy hours when you came home with all this.

Did you add more hours? Yes, I did. I was working probably 10 hours a day. And then once COVID hit, overtime was unlimited. Wow. There were so many open spots. So I was doing probably 12 hours a day wow six days a week wow so what did you guys do once you got on board did you just immediately start slashing the budget

did you sit down and create a budget what did that look like it was a budget yeah um we've never had one i never had one growing up i don't know you've never had one growing up i was like budget i can do this in my head like we don't need a budget budget what yeah like no oh gosh so when when you realized okay because obviously the crux of all this is the budget and once you realize that was your what was your reaction like because I know for me I used to be like a budget come on no I don't think so you know so what was your reaction to that so it felt kind of suffocating I'm more the free spirit and he's more the like okay we gotta save we got you know so it felt kind of suffocating I'm more the free spirit um and he's more the like okay we gotta save we got you know so it was kind of a little suffocating at times but we just

communicate and we talk about everything and you know it's we just keep open communication and we work the budget it really opened up how how much we were spending on money you know spending money on things we didn't need yeah we were going out a lot. You know, it's hard to, when you're working a lot and it's hard to want to be home, make dinner. So. So what do you say to people? Because I mean, Ken can attest to this all the time. Like people are like, you know, I don't want to be on a budget. It's going to ruin my fun. It's going to, you know, take me out. Like speak to that person who's got $48,000 of debt and they're fighting back. They're fighting the budget.

Tell them. So I would say just, you know, live well that you say it all the time. Live like no one else. You know, it's hard at first and your mind kind of just shifts when you start to like get out of debt little by little. You like get excited about it and then then the budget's not so hard. And we really focus on what's the most important to us at the time. And we budget that money for that. And then, I don't know, we ate out a ton.

So we slashed a lot of that out. No more coffee, no Starbucks, no anything like that. And you're alive to tell about it. Yes, we're still here. What was the most extreme thing you did on cutting the food budget? Did you do rice and beans? We did a lot of pasta. Yes, pasta, pizza, pierogies.

That sounds delicious. The three Ps. That doesn't sound like you're suffering at all. No, that sounds delicious. No, we weren't suffering. So you're not sick of pasta? No. No, we still eat it to this day.

Very good. Okay, I like that. All right, great. Now, what about support system? have a huge huge support system they all came to join us today yeah all right tell us who all is here because they're beaming with pride i know i got we got my parents my brother brendan who's in a wheelchair okay then i got my brother shane uh-huh my father-in-law kyle wow my aunt nancy and my sister kelly fantastic behind here is uh my mother-in-law cause wow my aunt nancy and my sister kelly fantastic behind here is uh my mother-in-law who's taking care of our baby right now so fun so everybody was supportive

they weren't going you guys have lost your mind they were supportive no i mean that's great yeah how much of a difference does that make to have somebody supporting you it's big to have somebody cheering you on yeah it's hard to do it by yourself. Wow, guys. So what's it feel like now? It feels great. Amazing. I could cry. I know.

It feels awesome being here. Yeah, being able to celebrate with our family. And it's amazing that everybody could get off of work or take the time off. And it really means a lot to us. And how old are you guys? 33 and 35. You guys are going to be millionaires. We hope so. That's the goal. No, you's the goal oh you will be no no you will be you are you are on that path you guys can really dream now you

have nothing holding you back that's thanks to you guys you guys well this program that you guys put out it's it does work but you guys did the work and that's the difference so fun all right so tell us uh about the little one let's get her in here what's her name and how old Sawyer she's 16 months old she has no idea how awesome her parents are right now and her future that is so fun look at sweet Sawyer that is gonna is she gonna freak out when you guys scream yeah we're not sure we're hoping she's gonna scream too so a couple things we're gonna give you a bundle here we've got the baby steps millionaire book uh and we've got of course total money Makeover for you to gift to someone else. And so that's our gift to you guys.

So let's get to it. Here we go. We've got Chris and Amanda from Rochester, New York. They paid off $49,000 in 11 months, making $72,000 up to $90,000. Let's hear your debt-free scream. Three, two, one. We're debt-free! Sawyer had a little delayed reaction, but now she's kicking and clapping and she's excited. That's what this is all about, Jade. A legacy, changing your family tree,

and we just got to hear another story. Don't move. More Ramsey Show coming up. Welcome back to the Ramsey Show. I'm Ken Coleman. Jade Warshaw is alongside, and we are here for you. 888-825-5225. So you've got money questions. Of course, we're here for you. How about something that's related to your money, and that's your work?

Are you bored out of your skull? Are you burned out? Are you getting overlooked? Want to start something on the side, work for yourself? Any work-related questions? I'm the work personality, if you will, here on the Ramsey Network and on the Ramsey Show. So excited to have all of you with us. 888-825-5225. Let's go to Devin in Kansas City.

Devin, how can we help? Hey guys, how are you guys doing? Good. What's going on? Hey, so should me and my wife increase our house rent payment when we will have just paid off our debt? And I can get into that more if you'd like. Yeah, tell us. So you just paid off all the debt in Baby Step 2? Is that what I'm understanding? So we will about the time that we have our contract renewal. So in about March, February, March, we're expected to pay off the rest of our debt. And right about then is when we're supposed to sign a new lease for our rental. But we're wanting to upgrade in house size because we've just added to our family recently. Tell me about that. Tell me about that. How many people in the family have just been added? We only have three right now. So me, my wife, and then a four month old,

but we're wanting to expand eventually. So we're trying to find a balance between rent payment is going to be much higher, but we're also wanting to save for a house and also baby step three. We're trying to figure out how to balance it out. All right. We're going to jump in. Okay. So it's you and mama and baby.

Yes. Okay. And what are you living in now? Give me square footage or bedrooms. Just tell me what the size of your current apartment is or house right now we we run a house that's a single um single layer 950 square foot about uh three bed one bath one car garage we're willing to try and get you know two car garage maybe a basement if we can um just just a little bit more room we were blessed with a bunch of um house gifts when we got married and whatnot and got way too much stuff for our tiny little house so um and i know these

are all luxuries and whatnot um so we're just what do you pay for that we pay 1025 right now a month which is really good and if you were to upgrade what what would you be paying? It'd probably be more around $1,400. So, okay, so we're going up $300 and some odd dollars. I'm not worried about that, Jade. I was worried he was going to say it was closer to $2,000. I was too. No, no, no, I'm not that crazy. I mean, here's... I don't think you need to move.

I think you've got a stuff problem. I would stay. I would stay too because the bigger... Oh, you agree with me. For once in my life, yeah. a stuff problem i would stay i would stay too because oh you agree with me usually i'm mr once in my life yeah i was gonna say because i'm mr like keep it tight and save now for the house because like well here's the here's what you have to ask yourself like long term not even really in the short term you're gonna want to buy a house you said yourself that you guys are trying to

save for it so 400 or 375 dollars each month is a lot of money it is and here's my thought I'm like a four month old that's little that's like a football that doesn't take up much space and your wife she's not pregnant yet and if she is that's still nine more months I don't care how small it is you have three bedrooms yeah so this house is just driving her nuts there's other things our our neighbors aren't great and I mean there. There's other things. Our neighbors aren't great. I mean, there's other things that go along with it. We just don't like the area per se. We're not going to get this deal anywhere else.

Well, is that true? I don't know. Well, from what I've been, we got this house in 2020. So it was kind of like right before everything really jumped up so about the same square footage is going about 13 1400 right now in some areas and locally okay so i i wanna i hear what you're saying that there's reasons and look at the end of the year grown at the end of the day you're going to get off this call and you're going to do what you and your wife think is best and i'm not mad at that okay can we hold on let me jump in because

i want you to keep going but i gotta ask you how am i supposed to keep going ken because i'm going to ask a question and let you keep going i'm not taking over i'm just i know i know i want you to i think this is a happy wife happy life situation and you are the resident wife at the desk i am she's not how does he handle that? Here's the problem. And it's not a problem. It's the reality. She has a four month old, so everything is going to get on her nerves. Am I right, Devin? You are right. I've been there. When you got a four month old, you notice everything's a problem. You can't even have the wrong look on your face, Devin, because that's going to be a problem too. You know what I'm saying? And so so I've been there I think that it could help them to just take a breath because everything's

new they have a four month old everything's new and everything's annoying y'all are still tired cranky cranky and we're not talking about the four month old you're about to get yourself in trouble no I'm talking about him yeah oh him yeah the wife okay okay i'm deferring i'm not gonna i'm not getting in the middle of that that's why i brought you into that happy wife happy life happy wife happy life does have something to do with it but i think this is a question of what do you want most or what do you want now happy and i think well i it sounds like what they want most is i'm just keeping it real i would stay i would say that's what i'm saying but she wants to move so happy wife would be her

well i think we got to bridge the gap we got to have a conversation with mama and have a conversation with mama and think about ask yourself what do you want most do we want to be able to buy the home that we want sooner in life or are we just do we truly have to move because again devon moving is expensive like folks don't talk about that there's an expense there there you're now uprooting your life even more so it has the ability to add even more stress because there's the whole interim before you get to that okay we're settled so you're about to crank up the the volume on I got it you know what I'm saying I think I got an epiphany we We'll see. What? Okay. This is up for you and Devin to decide. I'm going to take you to task on this,

Kim. And I'm fine with that. Okay. I think you have to sit down with your wife and I think you got to literally on paper write down what the increase in rent would be. And so let's just say it's $350 a month increase from what you are because you've given us that range. And you write 350 times 12 equals, and there's your first year. And you just lay the numbers out and go, if we were to save this money for a house, we can get there by such as you've got to cast vision. You can't just tell her to, hey, babe, try to get through it because to your point, she's tired.

I love that. And I'll add one more to it. I'll add one more to it. Once you get that number, you need to then run that back and go, how many hours of work is that? Because if we're going to replace this income, it means us working, right? If you're going to say, hey, not only are we going to ratchet up our rent and it's going to cost us, I don't know, $20,000 over the course, $10,000 over the course of the year. Now, what does that look like, us working to replace that money? That's a great call. Right? Because that's on you, bro.

And now all of a sudden you see what it is. Yeah. So I like this conversation, Devin. I like that you guys are thinking about it. I love that you called in the show. Yeah. Thanks for calling. Thank you.

Listen, young couples, if I could say anything about this, it's be patient. Think about the long term. I'd suffer a little early on. I would too. To get to the right house in the right place. I just would. I mean, you're supposed to be, I mean, Dave says it and I love how, I love the analogy. Renting is camping. It's camping, you know? And if you get too hung up and you turn it into glamping, then you're kind of defeating the purpose because it's a short-term solution. Like it's just, it's a short-term solution while you're getting yourself together until you can buy, because ultimately that's the goal. And I will say i have three kids i mean there is a day coming

for a lot of young couples if you have that many kids where you need more space sure and and there's a whole lot more expenses coming your way i would be like if you need need ken you don't need it okay roll yeah roll it back on the need oh you're talking about what i said yeah oh yeah yeah yeah we were in a smaller house when we grew up, you know, we were living in small houses. Oh, yeah, yeah, yeah. Yeah. But I'm talking about like if you're in a little teeny house like that, then you need multiple bedrooms and bathrooms and all that kind of stuff.

That does get to that point eventually. Yes. But I still say the word need is you do want more than one bathroom. Yeah. Well, when you have a teenage daughter and two teenage boys, they can't all share the same bathroom. That's true. That's what I'm talking about. That's what the Coleman's were dealing with. Had to do it. Look, let, when you have a teenage daughter and two teenage boys, they can't all share the same bathroom. That's true. That's what I'm talking about.

That's what the Coleman's were dealing with. Had to do it. Look, let me tell you. We did it before they got to middle school because that was not a sustainable situation. At one point, we lived in a duplex. It was me, my mom, my brother, and me, and my older brother. That would come home from college. One bathroom, Ken.

I admire that. I don't. That was tough times. I get it. But I get it. But I'm saying I know you can't do it. That's the whole point. Hey, listen. There's coming a time where you've got to spend money on stuff. If you don't have to now and the baby's little, don't. Hey, good hour, Jay.

Thank you so much, James Childs and all the guys and the gals in the booth keeping us on the air. Don't move. More Ramsey Show coming up. ...