The Ramsey Show - App - Failure is NOT Fatal (Hour 3)

Episode Date: July 16, 2019

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Music Music 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. Anthony is in Philadelphia.

Hi, Anthony. Welcome to the Dave Ramsey Show. Hey, Dave. How are you? Better than I deserve. What's up? Hey, so one, I want to thank you because you probably saved me, like, a whole bunch of money on, like, previous decisions that I made that were probably, like, really stupid, like buying cars I couldn't afford that I eventually got rid of from your advice from your show. Cool.

That's one. Two, I found myself in a weird financial position. I've never had, like like a lot of money before like um the most money i ever had in my account was maybe like five thousand dollars from like a tax refund or something and um i actually recently went through a bankruptcy a month ago uh and had to move in with some family because i couldn't afford like anything pretty much because i lost my job too uh which is why i'm not in pennsy But I'm going to be coming into about somewhere between $75,000 and $100,000 pretty soon, and I have no idea what to do with it.

Wow. So how's the new career looking? New career? I actually just started a job at a, funny enough, at a new car dealership. How old are you? So far, I mean, it's looking dealership. How old are you? So far, I mean, it's looking pretty good. How old are you? How old am I?

I'm 24. Okay. All right. So what is your long-term plans for the career? What are you going to do with your life? Part of me, like, I really always wanted to kind of start my own business, but I really don't have an idea of what I want to do yet. I got some like very few people in my family are like what you can,

I guess, call successful or whatever. Like most of them are in some kind of debt. I only have two people in my family that actually have a decent amount of money. Like I have a cousin who he owns a car dealership and then I have a, some family like in my country that they have their own businesses or whatever, but most of my family is kind of just like whatever.

So I don't want to follow anyone else's basically their path. I got you. I got you. Okay. Well, what I would tell you to do is continue to work on you, and that's personal growth. The average millionaire reads a non-fiction book a month. So I want you to get yourself on a steady reading campaign. Plug yourself into a good church where you've got a good spiritual walk.

And I would earn enough money to live on and not touch this inheritance. And you can set a portion of the inheritance aside for your emergency fund set a portion aside for investing and then earn enough to eat by working and don't use this money it's not exactly an inheritance it's more of a settlement i got to like a really bad car accident a few years ago in a car that I thought I really wanted, but it cost a lot. I was making maybe $12 an hour or something, and I bought a Dodge Charger, and it cost me $13,000.

So are you permanently disabled due to the wreck? No. I do still have pain from it, which is why the settlement's going to be so high, because I have to get surgery and everything for it. You do still have surgery ahead of you? No, I still have a lot of pain from the accident. I had surgery already, and I'm actually going to be going pretty soon to go talk to the doctors again. And they said that they can just take the payment that I would owe them from whatever settlement I get.

But my lawyer was telling me that I'm going to be getting somewhere between $75,000 and $100,000. You definitely need to set that money aside then to take care of you, to take care of future medical that's associated with this wreck. That's what the money's for. And not be using it to live on. It's very important that you start earning enough money to live on. You can pay your bills and buy your you know buy gas for your car you can not get into debt and you live on a budget

and you earn enough to eat and pay your rent and exist and don't touch this money unless you need to use some of it for a surgery due to the car wreck. Ryan is with us. Ryan's in Springfield, Missouri. Hey, Ryan, welcome to the Dave Ramsey Show. Hi, Dave. How are you? Better than I deserve. What's up?

Oh, well, me and my wife, Saturday we went ahead and paid off all of our debt that we owed. Great. That was a truck and then a credit card payment and then some, oh, some, a refrigerator and dishwasher that we needed, that we thought were needed. Wonderful. But, well, we just got it all paid off and now we've got $15,000 left on our house, or $16,000 left.

And we were wondering if we should just go ahead and pay that off while we're at it, since it's a smaller amount. It is a family loan that we were loaned a year or so ago, and we were just wondering if that should be included in our debt snowball or maybe step seven. It doesn't matter. It's only $15,000. What's your household income? I make around $45,000. Depending on the year, I own a small business, and my wife, she's getting a pay raise. She'll be making around $26,000. Okay. How quick can

you pay the $15,000 off? I think we could pay it off within a year, year and a half pretty easy. We do have another property that we debated on've debated on selling uh we bought it pretty cheap and we think that we could get at least ten thousand dollars out of it uh so as soon as we sell it we could probably pay it off um we were just wondering if we should go ahead and get our emergency fund first you need your emergency fund before you do anything else yeah let's go ahead let's go ahead and just make this a baby step six but baby step six if you want to if you want to tap after your emergency fund and say we're going to treat it like baby step 3b like a down payment on a house because 15 000 is like a down payment on a house right

and knock that out real fast and of course if you sell the other property it's going to happen really really fast so yeah let's let's make it baby step 3b is what i would do and make sure your emergency funds in place yourfree, everything but the house, and then you just hesitate for 10, 12 months and knock off the debt depending on when the other property sells. Absolutely, I would do that because it's a very, very small debt, and you're going to knock it out fast. Jimmy is with us in Shreveport, Louisiana.

Hi, Jimmy. Welcome to the Dave Ramsey Show. Thank you, Dave. How are you? Better than I deserve. What's up? Well, I'm going to be starting medical school in the fall, and I have some money saved up, and I also have the option of taking out student loans. And I guess my question for you is, what would you recommend in terms of how I partition my money?

Do you have the money to pay for medical school? Well, I have around $90,000 saved. Will that get you through medical school? What's that? Would that get you through medical school? It would get me through three years um but um i'm just not sure if it's a good idea to spend that on tuition and then take out loans for the fourth year or to take out loans for all four years save that money the fourth year do you go into residency you go into

residency after that uh salary for residency is around $50,000 for three years of residency. Well, what I'm going to tell you to do is do it debt-free because I think you can pull it off. It's within striking distance. Let's scratch and claw and work and figure out what we can do to get that other year covered, and you got out of there. But for sure, let's pay cash as we go for now. And you get up to the fourth year hopefully you've got it figured out by then no matter what time of year it is focusing on your family's financial

plan is always a smart move i get questions all the time about where to start and what to do first. One of the most crucial and affordable first steps to take is to protect your family and get term life insurance. I know it's not glamorous, but all the other steps mean a lot less if something happens to you and your family has no financial protection. Getting term life insurance needs to be a top priority. I recommend 10 to 12 times your income and lock in rates for 15 to 20 years. This gives you plenty of time to get out of debt and build wealth,

and I've been recommending Zander Insurance for over 20 years. They understand and live this strategy, and they will take the time to help you find the most affordable term life rates. Go to Zander.com or call 800-356-4282. It's not that expensive, it's not complicated, and you need to do it right now. That's 800-356-4282. Carol is in Pueblo, Colorado. Hi, Carol.

Welcome to the Dave Ramsey Show. Hi, Dave. Thanks for taking my call. Sure. What's up? I've been with the same company for about 12 years, and we've had a 401k that whole time. This year, they just added a Roth 401k. So I'm curious as to what percentage of funds I should put into each 401k.

100% going forward in Roth. 100% and don't contribute anything then to the previous 401k? Correct. Okay. And I would not roll the previous into a Roth until you're up at baby step seven because that's going to create taxes. Well, I am. I didn't call for my debt-free screen because I work and I don't often have time to. Oh, so your house and everything is paid off? Yes. How much is in your traditional 401k? About $320,000.

Good for you. Well done. Oh, thank you. I don't feel like I'm doing so well. Do you have any money outside of that? I have about $40,000 in savings. Good. Okay. So we don't want to roll the $320,000 into a Roth until you have the extra money to pay the taxes, because it's going to create, what, about $80,000 in taxes.

Right. And so we don't want to. How old are you? I'm 53. So I don't know if that would be a benefit at my age. Yes, it would be a benefit. To roll it in or not. It will be, yeah, because you're going to have over 10 years to invest.

And the growth, all the money, all the growth is tax-free on the Roth. And so I wouldn't roll the traditional, but I would take from this point forward and put 100 in roth all right thank you very much thank you open phones at 888-825-5225 cameron's in san francisco hi cameron welcome to the dave ramsey show hi dave thanks for taking my call sure what's up? I've got a truck that I need to get rid of. About $800 a month. Whoa, $800 a month? Yep.

Dadgum, man, what kind of truck is this? That's a Ram 1500. Sheesh. You got bad credit or something? Well, the interest rate's 6.5%, so I don't think it's too bad, but now my credit's pretty bad. Wow, you got slammed. Okay, yeah, yeah, you got to get rid of this thing.

That's a nightmare. That thing's eating your lunch, isn't it? Yeah, and the real kicker is I'm about $7,000 under, and I can't get a loan to pay it off. Who's the loan with? Capital One. Oh, geez. They're going to be no help.

Okay. What do you make a year? Up until this point, it was about $45,000, and you're probably yelling at me for this one, but I just put my two weeks in last week. Why would you do that? I was in a pretty close call as far as the car accident goes on the job. I drive for a living, and it just didn't seem worth it to me at that point. So what are you going to do for a living?

I have my life insurance license. So that was kind of the goal as far as at some point. But at some point it came quicker than I was expecting or hoping. How old are you? 25. Okay. how old are you 25 okay um well cameron you need an income don't you yep so what are you gonna do because it's not the insurance license is it

you don't think so doubt it might be you might be the one that does it but very few people make a living in the insurance business long term uh life insurance sales turn over 80 in the first year um yep so i mean I mean, do you live with your parents? Yeah, my mom and my brother. Okay. So at least you're not going to be homeless and out of food, right? Right. Truck's going to get repoed if you don't go get a job.

And this is going to get really, really ugly. So I want you to go get a job as soon as you can like by the end of the day for your sake and then let's get then work four jobs work like a crazy person and then let's scrape up the extra seven thousand dollars and let's get this thing sold out from around your neck okay now but you keep i will tell you i'll tell you in my life i've done a whole lot of stupid things cameron that have cost me a lot of money and a lot of pain and um i have a phd in dumb but and coaching people for 30 years on financial things what i I find is that way too many of us spend half our time making up for decisions we made that were done impulsively. This truck was an impulsive decision, and walking out on the job was an impulsive decision.

And you've got to slow down on these decisions. You're hammering yourself okay you got to slow down and increase your level of wisdom by slowing your speed down and just rethinking some of these things that seem okay but i mean you have no income you have a six hundred dollar truck payment that you're upside down $6,000 on. And that situation is brought on by two impulsive decisions, buying a truck you couldn't afford and walking out on the job because you got scared. And, you know, those are not well thought out, wise moves in either case. I have done a lot dumber things than those two things

that have brought me pain too so i know what it's about i understand the pain but what my heart hurts for you because i think you're facing some pain if you don't go create an income now like four jobs and build up the,000, get yourself on a career track, get yourself out of this truck. I'm sorry you're facing all this. I've been there myself. I've done stupid stuff that got me in a corner, and it does get you there. Open phones at 888-825-5225.

Alice is in Atlanta. Hi, Alice. Welcome to the Dave Ramsey Show. Hi, Dave. How are you? Better than I deserve. What's up? So my husband and I are on baby step two, and I just started a new job about five months ago making $93,000.

Wow. What do you do? I'm a procurement and contract manager. You're a what? Procurement and contract manager. Oh, good for you. Okay, cool. Thank you.

So the previous job that I was at, my boss over there got a new job, and now he's calling me to come work for him. And he says he would offer me $100,000 plus 10% bonus. And I really don't like to jump from place to place, but, you know, I'm trying to make a career decision here um and so my question is um do i stay at the job here for at least a year or at least uh go ahead and listen to him and see what he has to offer and make the decision to possibly jump ship again well i'm not i'm not going to run around chasing money only, but it is a conversation you need to at least have. The days of someone worrying about your resume, for instance, if I were interviewing you three years from now, and I said, okay, what is this?

You just stayed a few months on this job. And they say, well, they offered me $10,000 more to go over there. I'm like, oh, okay. That makes sense. But the day, you know, so that, you know, moving around doesn't destroy a resume today like it did 20 years ago. But the question is, where do you want to work? Who do you want to work for? Who do you want to work with?

What's the quality of people, the quality of the job, the quality of the environment? And then let's talk about who the highest bidder is among among the winners in that conversation. This is the Daveave ramsey show so We've been voted one of the best places to work in Nashville 11 times. You want to know how we do it? Well, our team has been using LinkedIn jobs for years to find the best people from all over the country to come and help us change lives. Think about it. LinkedIn has more than 600 million active members. I'm talking about people who come to LinkedIn to make connections, grow their careers, and discover new job opportunities. In fact, 90% of LinkedIn users are open to new opportunities, but not actively scanning job boards. This means LinkedIn Jobs gives you access to an entirely different demographic.

Don't wait. One hire can change the direction of your company. Post a job today at linkedin.com slash Ramsey and get $50 off your first job post. That's linkedin.com slash Ramsey. Terms and conditions apply. with more than two million real estate agents in the country they're everywhere everybody's got a real estate license your crazy aunt emily's got a real estate license the crook over at the market's got a real estate license they're everywhere

oh and they all want to list your house your largest asset don't do it don't let your buddy give you a root canal don't let your brother do your taxes, and don't let your mother tune up your car. Seriously. This is not a DIY thing, and it's not something you ought to turn over to people who are beginners. You need to work with real estate agents who have unbelievable productivity. High octane, high protein, get her done done you're buying and selling a house you need to work with a top agent not somebody got their license three weeks ago sorry to those of you that got your license three weeks ago but don't list your house don't buy a house from a

brand new real estate agent go to Dave Ramsey dot com slash. We'll hook you up with the people we have vetted. They're all high-octane, high-protein. Don't let a monkey sell your house, please. Megan in Raleigh, North Carolina. Hi, Megan. How are you? Hi, good. How are you, Dave? Better than I deserve.

What's up? So I have $100,000 in investments not tied to retirement. Good. And, yeah, it's been great. And then we also have a mortgage as our only debt, and it's around $186,000 right now. So I'm wondering if I should use the investment to pay down the mortgage or if there's benefits to just keeping that money invested. What's your household income?

Around $120,000. Wow, good. And any other debt? Nope, no other debt. Any other money saved? We have money in retirement accounts. How about an emergency fund? Yes, we do have an emergency fund.

How much is in it? About six months. Okay. How much is in it? Well, more than six months, I guess, but we're going to use a little bit to renew the car maybe. It's around $60,000. Okay. How much is in it? Well, more than six months, I guess, but we're going to use a little bit to a new car. Maybe it's around $60,000. Okay. Yeah, you're a little rich on that for sure.

Yeah. How much are you going to buy the car for? I'm thinking around $35,000. Okay. All right. And you're paying cash, of course. Yes. Okay.

Which will drop your emergency fund down to $25? Correct. So I want to keep at least $25 to $30 in that emergency fund. Yeah. You need to do that and separate your car from that. Pretty rich car, but it's okay. It fits within the guidelines, and you're paying cash for it. So I assume the other car is not $30.

No. All right. within the guidelines and you're paying cash for it so i assume the other car is not 30 no all right um well here's the thing what we have found in studying millionaires and and the goal here is to actually find people who are really building wealth not people with theories okay and when we studied the 10 000 millionaires we found the average millionaire did two things. And you're doing, you know, you're moving in the direction of both of them. They aggressively invested steadily in their 401ks and Roth IRAs, and they got their house paid off. And they stayed away from any other debt at all. And so, you know, you're already funding your 401Ks well. You're doing a good job of avoiding other debts.

And what I would, my next goal would be to have the house paid off because that's going to lead you into the best possible probability for wealth. How old are you guys? Early 30s. Oh, you've done a great job with money. Very well done. Very well done. We live way below our means, I think.

I'm sorry? We live below our means. You do, considerably. You've watched, and you've been very intentional. There's no accidents in your life. You know, this is all, you did all this on purpose. It wasn't luck, right? I mean, you forced this money to behave so all of that to say yes i

would pay down the house and then i would have a goal of knocking that other 80 out um pretty quickly i mean i would think you ought to be able to do that easily in two to three years wouldn't you um yeah i was looking at less than five years five being the goal yeah i think you need to do it in less than five if you put a hundred thousand. Yeah, I think you need to do it in less than five. If you put $100,000 on it and you only got $80,000 left, you make $120,000, you have no payments. Yeah, that's true. Yeah, you probably do it in three. I mean, that's $30,000 a year out of your $120,000 pays it off in three years.

Yeah. That's the most you ought to take is three years. But, yeah, I would pay it down. I sure would. I'd move it to that, and then let's get the house paid off. And then that sets you up, obviously, at Baby Step 7 to invest like crazy people and to be outrageously generous. And when you mix those two things together, you really are having an incredible life.

And you guys have done an amazing job. Congratulations. Very well done. I'm going to send you a copy of Chris Hogan's book, Everyday Millionaires. It's got 140 of the statistics that we discovered when we were doing the millionaire study that we did, that Chris and the team here at Ramsey did. And they're numbers that a lot of us have known for years, but they were verified by the largest study of millionaires ever done in North America.

The book is number one bestseller, Everyday Millionaires. So hold on, I'll send you a copy of it. Gabriela is with us in Wake Forest. Hi, Gabriela. Welcome to The Dave Ramsey Show. Hi, Dave. Oh, my gosh. I just want to say before we start anything, you are a blessing in my life.

Thank you so much. I thank Jesus every day for you. Thank you. You're a blessing in mine. How can I help? Well, I'm calling because my husband and I made a huge mistake about four years ago, and we got a car on a lease. And the car was worth $45,000. It's a Jeep Wrangler. Um, when we got it, our income, our household income was 120,000, but I was in a very dark place in my life. And, um, last year I quit my job and I actually went back to school because I really hated what I was doing. So, uh, right now I'm not working. so we only have my husband's income which is 100 uh sorry 60 000 and the car payment is about 335 per month when is the lease up

yes that's the lease of the car when is it up when's the lease over uh the lease is going to be over in about 20 months wow you had a long lease we did like i said it was a huge mistake okay um she had like a six year or five year lease it was a six year and well like i said again it was a huge mistake the guy was like oh and guess what we're going to do you a favor and we're going to give you a lease for six years instead of five yeah and we were like stalker saying yes yeah well that means a less payment that's great yeah so uh okay so you have 300 and so you got about six thousand dollars left to come out of pocket on this over the next um one and a half years or so right yes sir okay what's the car worth today? I checked online, and it seems like we can sell it somewhere around $27,000.

But the bank told me that I have to pay them $32,000, and that was two months ago, because they said that I have to pay a $5,000 payment for getting out of the lease. Yeah, and so you've gotten screwed. So here's the thing. You're going to pay them $5,000 now and get rid of the car now, or you're going to drive it for a year and a half and pay $6,000. I'm keeping it and driving it. That's what my husband said, and I just wanted to make sure that we were doing the right thing,

and that's why I'm calling you. You are. Just make sure you're not going over on your miles and make sure you're not going over normal wear and tear so that you can toss them the keys when this thing's over and have no more checks being written on this car and of course you've got to get ready to buy another car during this time yes we're actually saving uh every month to make sure that we're paying cash for the next car, and we are not going to get anything that is more expensive than what we can afford. I love it.

You have learned your lesson. You're on to the next task. Well done. Well done. You're on your way. We all do stupid stuff. The trick is learn from it. Don't do it twice.

This is the Dave Ramsey Show. Thank you. our scripture of the day psalm 51 10 create in me a pure heart oh god and renew a steadfast spirit within me dale carnegie said, Develop success from failures. Discouragement and failure are two of the surest stepping stones to success. Yep. Yeah. Fatal. Failure is not fatal. As a matter of fact, most of our, most of the things we do that we learn to do, we learn to do them by failing.

Got five grandbabies, five and under. You know how they learn to walk? By falling. You know how they learn to walk by falling you know how they learn to talk by gibbering and not making any sense and we look into their little cute faces and we say the words very clearly so that they learn how to speak you know how they learn to behave? By misbehaving. Same with you and me, isn't it?

You learn to walk by falling. Sorry. The trick is, just embrace the process. Have you done something dumb with money and it's discouraged you? That's all of us, baby doll. That's all of us. You could have a Ph.D. in mathematics and be a financial ignoramus. It's all of us you can have a master's degree in finance and be broke because of your behaviors

your choices your immaturity your impulsiveness it's all of us we all have faced those exact same demons no one is born with a money gene that you didn't get. Dave Ramsey was not born good with money. They didn't walk into the nursery and go, oh, that one's going to handle money well. No, I went bankrupt after becoming a millionaire. In my 20s. Starting from nothing again because I'm so stupid I had to do it twice. Rebuilt our wealth.

But you learn. The trick is, okay, so you leased a car. That was stupid. Look at the math and understand why it's stupid. It's the most expensive way to operate a vehicle. Get out of that deal, either by riding it out or dumping it, selling it and paying the difference, whichever makes the most financial sense. Get out of that deal and never do that again.

You know who leases cars? Broke people. That know who leases cars broke people that's who leases cars so you bought a whole life insurance policy so did i once this fraternity boy from college that knew my wife comes by from northwestern mutual and sells us a bunch of crap and i've got a finance degree and i bought it then when i started unpacking and learning how horrible it was what a trashy pitiful product the northwestern mutual whole life policy is i've never made that mistake again i canceled that policy i've only carried term insurance since then i found our credit cards are not a source of wealth building well dave i get points said broke people everywhere

dave i get points said no rich person ever rich people don't i've never met with a millionaire or a billionaire and i sat down with him and said, tell me your financial secrets. Tell me what the deal is. When I'm asking millionaires on the Everyday Millionaire Theme Hour, and I say, what advice do you have for 25-year-olds? They never say, never in 30 years of talking to wealthy people. I've never heard one say, you know, know those airline miles that was my financial breakthrough those discover points that cash back baby had changed my life so i mean do the math okay you get one percent cash back right that means if you spend a hundred thousand dollars on that credit

card you get one thousand dollars back you want to tell me how that is a method of wealth building? That's stupid. It's stupid. And broke people say stupid things about money, and they keep doing the same mistakes over and over and over again, and then they blame the systemic problems with the economy. The little man can't get ahead. No, it's your stupid habits.

My stupid habits. The problem with my money is the guy I shave with. If I can get that guy to behave, he can be skinny and rich. But he's got issues. I like chocolate chip cookies. Makes it hard to lose weight. Makes it hard to stay in shape right i mean we're all this way i'm the same way dave ramsey just shames people and judges people no dave ramsey shames and judges stupid behaviors in himself and in you i am not going to endorse your stupid behavior so that you feel good

about yourself because you're not going to end up feeling good about yourself because you're going to be broke we're not shaming anybody or judging anybody we're shaming behaviors that don't work judging behaviors that don't work and if you can't do that then you can't be a grown-up that's all about being an adult right there what they call adulting yeah if you want to be adulting you actually have to look at stupid stuff and say that's stupid stuff and not get your precious little feelings hurt You sweet little petite flower. Oh, my gosh. You know, grow a spine here and face the music and say, you know what? That didn't work.

I failed. I'm not doing that again. Make a decision. You get to choose. And if you choose to do the same thing over and over again and you expect a different result, I've been using my credit cards getting points for years. And so, you know, it's a Dr. Phil moment. Stupid.

How's that working for you? You want to show me where I went to Europe once? Yeah. Well, what's your net worth? Four dollars. Because you keep spending everything you make because I'm going to Europe on free airline miles. You're an idiot. That's just straight up stupid.

I'm going to lease my car, get a whole life policy, use my credit cards, get a student loan to send my kid to college, and sign up for it as a Parent PLUS loan, and then wonder why I'm broke and lower middle class. Because you're making stupid, broke middle class decisions is why. You want to make lower class decisions? I can help you with lower class decisions too. Buy lots of lotto tickets. Pawn everything and do rent to own. That's where you're finding the poor end of town, isn't it?

That's what poor people do. And all of those things feed on poor. Oh, tote the note lots. Yeah, on your car. All those things feed on poor people. They don't feed on the middle class. The middle class gets fed on by other stuff. But you can make a decision to not be poor people anymore.

It's hard. I've been broke. I've been so broke. They took the water meter out of the front of my house. They didn't just disconnect it. They took the whole dad blame thing and hauled it off. Because that's how bad we were behind with the water company. I've been there. I know what that looks like.

That is not a good day. Because of my stupid choices. When I quit making stupid choices, I magically ended up with more money. It was magic. Look at that. And then people say, you're so lucky. Luck had nothing to do with it, dummy. Not making stupid choices anymore.

That's what changed everything. Start making wise choices instead of stupid choices. The fool is juxtapositioned with the wise all through Proverbs. You can find it there every day when you read them. There's one a day, by the way, for 31 days. Good news about all this is you can do this. I don't know how scared you are or how beat up you are,

but I've been right where you are. You can turn this around and we're here to help you. And we have been for a very long time and we will be for a very long time. That puts this hour of the day Ramsey Show in the books. We'll be back before you know it.

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