The Ramsey Show - App - Feel-Good-Friday Decisions Will Leave You Broke (Hour 2)

Episode Date: August 17, 2018

The show about you

🎵 Live from the headquarters of Ramsey Solutions, 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 am Dave Ramsey, your host. Thank you for joining us, America. It's a free call at 888-825-5225. That's 888-825-5225. That's 888-825-5225. Wayne is with us to start off this hour in Jonesboro, Arkansas. Hey, Wayne, what's up?

Hey, Dave, I called you a few weeks ago, so if some of this sounds familiar, that's why. I'm a commercial driver. I drive a one-ton pickup. I have been having so many breakdowns lately. We've burned through our Murphy fund three or four times in the past. Three weeks before this past week, I put $3,500 in maintenance in my truck. And all of that is not only cash money I'm having to come up with, but it's also time that I am down and can't make money.

I just got it out of the shop last week for $1,664. Today, some of the stuff that they fixed in Jonesboro, and I'm in New York, by the way, some of the stuff that they fixed in Jonesboro, and I'm in New York, by the way, some of the stuff that they fixed is having problems. So my question is, I don't want to go in debt, but at the rate I'm going right now, I haven't even been able to keep up with my budget, let alone put anything back in the Murphy Fund that we've burned through. How do I get ahead? What do I do when this truck is my livelihood?

Well, there's not an option where Dave Ramsey is going to tell you to go take out a truck payment. There's no situation that's going to occur that's going to cause that to happen. So let's just lay that on the table, and then we'll try to figure out what to do to help you. Okay? I understand that. Because if I were in your shoes, I wouldn't do it, and so I'm not going to tell you to do it. Because I don't tell people to do what I wouldn't do personally. And I'm very consistent.

That way I'm not a hypocrite. So, you know, so how old is this truck? How many miles? The truck is a 2007. It's got $350,000 on it. Okay. And so it's not worth much. Well, for what they're going for right now, if it was in top shape and there again, it would take some money to get there but they're about 20 to 25 000

that truck is a 2007 there was one sitting on a lot i've seen uh two weeks ago for 23 9 had 170 000 miles on it okay which is half of what you've got miles yeah but the the thing of it is even looking at ones that have the higher mileage uh this truck is before they started what would your truck sell for and everything what would your truck sell for i would say would probably sell for somewhere in the neighborhood of 15 okay that's what i was thinking give or. All right. And so you could buy a, if you sold a 350,000-mile 2007 for $15,000, you could buy a 2,000, I'll just make this up, 2 or 2,004 with 150,000 miles on it, older and lower miles, but that might be more reliable for the same money

i'm guessing you don't have any cash at all no not at this point because we've burned through all of it we've paid off several debts in the past few weeks but that was right before yeah all the maintenance hit us i got you now the other question is i and um you know this truck probably well you do know this truck better than any other human on the planet. You know every detail about the workings on it. So have you gone through a run of bad luck or other than the emotions of being pissed off and broken down, which I completely get that, man, that would drive me bananas. So I get being mad about it. But other than that, in reality, looking at it with a clear logical mind, have you just gone through a bad run, or are you really going to have this string of repairs continue

because this thing is really just done? Well, and that's the one that no one can tell me, even the mechanics that have worked on it. But I mean, what's breaking down on it stuff you, what's breaking down on it? Okay, what's breaking down on it? Drums and rotors cracking on it. Well, how many times is that going to happen? Control arms going out.

How many times is a drum or rotor going to crack? That's just it. There's guys saying, I've never heard of that. We don't have a clue why it happened. Well, it's awfully funny that there's several things. Well, you're working this truck is why. You're getting them hot. This truck's getting a lot of work.

Yeah, but there's guys got the same kind of truck that's running 600,000 miles and never putting a set of rotors on them, doing the exact same thing that I do. Okay. Well, then I don't know what I'm talking about. You know, the thing of it is I did buy the truck used about two and a half years ago. We don't know if some of this stuff was shot when I bought it then. You know. Well, what I would do if I'm in your shoes is, and the reason I'm asking these questions is I'm trying to figure out, if I were in your shoes, would I just think that, okay,

maybe we've had a bad run and we're going to be okay for now. We've kind of got, you know, we got a bunch of crap replaced, so hopefully there's not three more things right in the break. And I'm going to take my chances and run it on out for a while. Or I've got to look at selling this thing because I'm giving up on this particular vehicle, and I find something else that will do the job with the amount of cash I can get out of this vehicle. Because I don't borrow money, those would be my two options. Okay.

And I would have to think that through and make that decision for myself. But I can tell you this. The thing that happens is this. 100% of the time that I get desperate, right after I get desperate, I get stupid. I understand that. And usually by the time I get really mad about something, I get stupid too. On something like we're talking about here, you know. Like I just want to draw a gun and start shooting a stupid truck, you know, at some point.

You know, so we all get there, you know what I'm saying? And I don't want to do any of that. I'm not suggesting any of that for sure, especially in New York, dude. Arkansas, they might understand. In New York, they can't make a good decision. What helps me is I remember that broke people make decisions based on what feels good Friday, and rich people make good decisions on what feels good a decade from now. And that's how I'm looking at this. What is the best thing for your business and for Wayne in his business five years from today?

And it is not truck payments on a $50,000 replacement vehicle. Right. It doesn't take you there. It would feel good Friday because a whole bunch of these problems would go away. But five years from today, you're going to look at that and go, Dadgummit, that was stupid. Because it just drained all my cash flow. It just killed me.

This debt boxed me in a corner I can't breathe. And I've got to do runs now just to eat. I've got to do runs just to pay the bank instead of to eat. And I just can't tell you to get there. I can relate to your frustration. I think you're right to be frustrated. But you need to look at this logically as you can and make the decision, if I'm in your shoes, am I going to fight this thing a little bit more

and see if we turn the corner with this vehicle, or am I going to sell this vehicle and use that cash to buy another similar one that will get the work done and is more reliable? Sorry you're going through this, Wayne. This is the Dave Ramsey Show. Are high health care costs getting you down? Are you confused trying to navigate your options? Do you wish you could find an affordable, biblical solution to your health care costs? Based on New Testament principles, Christian Health Care Ministries, or CHM, helps Christian families, churches, and ministries join together as the body of Christ to share their major health care costs. Christian Health Care Ministries is the original health cost-sharing ministry.

A Better Business Bureau-accredited organization organization CHM members share to pay each other's medical bills. It's not insurance. It's Christians financially and spiritually supporting each other. It's what Christian Healthcare Ministries has done for over 35 years, and our members have shared over $2.5 billion in medical bills. To learn more, visit chministries.org. That's chministries.org. Christian Healthcare Ministries is a proud sponsor of Dave Ramsey Live Events. chministries.org. Thank you for joining us, America. We are glad you are here. Emily is with us in Los Angeles. Welcome to the Dave Ramsey Show, Emily.

Hey, Dave. Thanks so much. I've got a question in regards to quitting my job. I currently work in the insurance industry, and I'm not liking it so much. I'm hoping to leave pretty soon, but there are a few factors affecting that decision. First of all, I'm recently married. I've actually been married for about a month now. My husband and I make a combined income of about $110,000 per year. Phenomenal.

Split pretty much equally between the two of us. Okay. What I'd like to do is quit insurance. I was actually a music major in college. I played the cello, and right now I've got a couple cello students on the side. I'd like to expand that a little bit more, kind of focus in that area. But just not sure if this is a good time, you know, being newly married and everything in regards to that, to just kind of switch gears entirely.

Okay. So you're how old? I am 24. My husband's 25. Okay. So when you're 34, a decade from now, you want to have a cello school with students paying you lots of money to teach them how to play i'd love to have a full studio yeah that'd be the dream okay well let's do it you ought to do it i

mean i don't know when you do it or how you do it but let's do it you got 10 years for the dream we just laid out so we can take our time we don't have to do it tomorrow i mean you don't have to walk in on friday today and go take this job you know and shove it you don't have to do it tomorrow. I mean, you don't have to walk in on Friday today and go take this job, you know, and shove it. You don't have to do that today, right? But, I mean, we need to be thinking about how to run a music business, not just playing the cello. You've got to learn about business, too, and where do these students come from and how many of them can I get and so on and so on and so on and so on. I don't know anything about that world it I mean

I mean I'm under the impression a lot more kids probably take piano than cello am I right yeah that's the thing um being in Los Angeles does help a bit oh I guess that does yeah that would be different than being yeah okay yeah that's true yeah because you've got a lot. Yeah. Okay, that makes sense. The only difference is travel time then to get to you or you having a centrally located thing so that I guess moms and dads can get their kids there. Hmm. So here's what you need to do. You need to become a student of how to run and grow a cello teaching business, right? Mm-hmm.

A studio. You've got to run. So you need to find somebody that's doing this with other musical instruments, not this one. But is there someone that's giving guitar lessons on a volume that makes them glad that they don't have a regular job, you know? Is there somebody that, in other words, they have a studio and there's people lined up all the time to take lessons from them. Is there somebody that, piano's probably not the same because you probably, it might be similar.

It just occurs to me that these kids would probably bring their own cello. And when you take piano, you don't really haul your own piano in. I'm making this up. I don't know anything about what i'm talking about you can tell but what we need to do is we need to find a few people that do and study the business aspect of this not the not the music aspect of it you follow me and so it's not like you're going to quit tomorrow and then what i would want to discover is uh i'd want to find a few people that were where you want to be when you're 34 in our dream that you and i are out laying out and okay what were the steps you took to get there what were the biggest mistakes you made while you were trying to get

there and if you were talking if you were talking to the 24 year old version of you 10 years ago what would you tell you about this business now that you've become successful in this business? And you might even have to travel to some other cities to find this. Okay. And so I'm not trying to make it overwhelming, but $55,000 income is really nice in Los Angeles, having just gotten married, and trading that for $25

because you have one student that came once is not a good plan. Right, right. So we've got to develop a game plan here. Okay, we don't have to start with the studio that we're going to have when we're 34, but we need to have then, once we've identified what the process is to get students, how to charge them, how to best locate yourself, do you go to them them do they come to you whatever those kinds of things then you say okay i'm going to go get my first eight or ten students as my side hustle and we're going to do it out of the living room or we're going to do it at the

local community center who lets me rent the room once a week for 50 bucks and people meet there or whatever and we're gonna but we're not gonna go open a studio and hope you know we're not gonna feel the dreams built we build it and they will come no they won't so you have to you have to prove so if i'm in your shoes if you were my uh uh my kid and my kids are your age i would say let's get the side hustle up to $25,000 or $30,000 a year, then walk out of the job. Okay, okay, sounds good. But you don't have to be all the way there, but you need to have the dream in your crosshairs.

You need to be able to look through the scope and see your dream and know the steps it's going to take to get to the dream, and that way it's not just a dream. Now it becomes what's known as a plan. Is this logical to you? Yeah, absolutely. I'm very encouraged by that. Okay.

Now what I want to do, Christy Wright is who you need to connect up with on our team, the Ramsey personality, and she's got Business Boutique, equipping women to make money doing what they love. She works with ladies that want to start and run or are running their own businesses. I'm going to send you a copy of her number one bestselling book, and it will help you. Also, jump on her website at businessboutique.com and look at the Business Boutique Academy. There's a community of ladies there doing all kinds of different things, and you'll get some better advice from them than I just gave you even.

But I gave you a framework to do this with. But the best way for your dream to become a nightmare is to not have a plan and not having proven that it actually works in the marketplace incrementally towards your overall win. Hold on. Kelly will pick up. We'll send you a copy of that book. Kathy's with us in Miami.

Welcome to the Dave Ramsey Show, Kathy. Hi. How are you better than i deserve what's up hi okay i'm calling because okay i'm 32 i'm a single mom i currently have student debt um exactly 193 619.99 are you a doctor or a lawyer i'm neither and i only have my associate's degree well how do you spend $200,000 on an associate's degree? I think I'm still trying to figure that out because I... You wasn't in math. I went to AIU, and

what I did is I, once I completed my associate's, I went into my bachelor's, and then they stopped me because I didn't have any more funds. Unfortunately, I didn't have any more funds. Unfortunately, I didn't have anybody to sit down and tell me, okay, this is what you'd have to do. I just signed any and everything just to get to school. That's what I did. No consultant, no guidance.

So now here I am years later, and I have this ridiculous amount of debt between Navient and the university. I completed Baby Step number one. Your associate's degree is in what? In business administration. So what do you make a year? I currently make $45,000 a year, and I work in condo, hotel, resort industry. How many kids do you have? I have one.

How old? He's seven. And that's a part of my question. So I also lead your course, but I just believe in it so much I just need some extra guidance. So I currently work, like I said, a full-time job. I actually just applied to work another full-time job, and the point of that is to pay off on the debt that I owe, but I also want to get my 7-year-old started on his college plan and his mutual savings. You don't need to do that.

You need to clean up this mess. If you just leave this $200,000 laying over there and try to ignore it and live your life, it's going to become $400,000. Yeah. You've got to attack this and continue to grow your career and continue to grow your income long-term. How old are you? I'm 32.

Okay. All right. Well, we kind of need to do the same thing we did with the last lady and say, okay, where do you want to be when you're 42 that's making you $100,000 a year, and what are the steps to get there very specifically and begin to take those steps in terms of whether you need to get a certification or what is it you want to do that makes you double what you're making now

so that you can begin to address all of these issues in the middle of this. But I couldn't tell what you said about financial peace university if you're not in the nine-week class i'll pay for it darling you need some help and you call me back as you're walking through this i'll walk with you hold on this is the dave ramsey show Let me tell you a story about two families that are very much alike in a lot of ways. Both families have two working parents and a couple of young kids. Each has debt and a struggle to make ends meet. But they're starting to make headway with their budgets and smarter decisions with money. They have dreams and plans, and the only real difference is that one family has the right

amount of term life insurance, and the other doesn't. Big difference. If one of the parents die, and that does happen, their well-being would be destroyed. Paying for the mortgage, utilities, food, and other bills would be impossible, let alone saving for education or retirement. That's why every day I talk relentlessly about getting term life insurance. Just go to ZanderInsurance.com or call 800-356-4282 and see how inexpensive it really is. Be the family that takes those deliberate steps to be different and responsible.

It really does make you the hero of your story, and it puts you on course for better things ahead. Washington, D.C., Christopher and Hannah are calling in. Hey, guys, how are you? Hi. Hey, Dave. Welcome, welcome. I see on my screen you're debt-free. Congratulations. Thank you.

We're very excited. Very fun. How much have you paid off? We've paid off $58,000 in two years. Very good. And your range of income during that time? $56,000 per year. Okay. Very cool. What do you all do for a living? I stay at home with the babies. And I work for FedEx.

I'm an operations supervisor. Very cool. Good for you guys. What kind of debt was the $58,000? We had some medical bills from having the kids, and we had a car. Christopher had a Mustang convertible that we ended up selling. And we had Chris's student loans. Okay.

How much did the Mustang bring? $8,000. $8,000? Yeah. It was $2,500. Okay. Wow. So $8,000 of the $58,000 was the car.

Yep. And what else did you do to get out of debt? Chris worked a lot. Yeah, I basically worked two jobs for the past two years. I worked night shifts for FedEx, and then I picked up side jobs for the past two years. Okay. All right. So $56,000 was the base plus overtime or what? Yeah, something like that.

Lots of extra shifts and things like that. I cut costs and was a home economist, as you say. Right. How long have you guys been married? Five years. All right. So what happened two years ago that brought this game on? I mean, all this overtime, sell the Mustang.

We're doing this great question oh basically in the first three years of our marriage we actually didn't go through a single christmas that i had a job i actually was laid off three times or released from a job um and by the third time we just hit our rock bottom, as you say. And it was like, you know what, we're tired of having things direct where we go in our lives and not our lives being intentional about what we want to do. And so we just got intense about it and serious about it. And we had tried our own way, and I thought I was very smart with money. And we had tried our own way, and Hannah actually brought up this option for us and so we just went from there.

Wow. Okay. So the option was what? Total Money Makeover book or where did you run into us? Yeah. My parents went through your program through Total Money Makeover and just their example with being suggestive and they gave us a book and I read it and I was the last time that he came home and told me that he was unemployed again I was so tired of being scared and never knowing like not having a job being a crisis and instead of just an inconvenience or an opportunity. And when he came home the last time, I was just done. So your mom and dad had talked to you and Christopher about doing this get-out-of-debt thing, getting on a plan, before you hit the wall, right?

Yeah, they did. Did they do a good job, or or were they like uh bothersome about it no they did a great job actually they just you know were excited about their experience and how excited and how so that they may they made it winsome rather than like they weren't shaking their finger at you. Right. Okay. That's good. Good job, Mom and Dad.

I know. That doesn't always happen, you know. And it's not easy. Sometimes they use their dad voice, you know, or their mom voice, you know, and that's not good when you're like a grown person. Your parents aren't supposed to use that voice anymore. No, I know. Oh, wow. Well, congratulations, you guys you thank you what do you tell the

people the key to getting out of debt is sacrifice you have to be willing to sacrifice a lot of times i was home with the kids and he was working and and i mean we we sacrifice not only um you know time with our family we time with each other, but I also think you have to have intentionality. You can make a ton of money. We've had seasons where we've made more money. But if you're not intentional about where you direct your money, your money is going to go and you're going to be left with nothing for it.

So you have to have the plan to go with where you want to have your intensity. And for the first six months, we lived with his parents. So they were really supportive, too. And they really helped us out that first couple months while we were getting back on our feet. He got a real big boy job again. And then it's game on. Yeah. We're ready to live like no one else so later we can live and give like no one else.

I don't ever want to be scared like this again. I heard you say that real clearly, Hannah. Yeah. That's a wonderful, horrible experience to have because it changes your life. When you finally say, I've had it, never again, I'm not going to live like this. I'm done. That's when everything changes. And your why changes. Because throughout the journey, I was just, I didn't want to be scared. And then it just grows into your dreams becoming goals.

You have a plan. Well done. Well said. Good job. Well, we've got a copy of Chris Hogan's book for you, Retire Inspired. And that's a number one bestseller. That's the next chapter in your story. Your story's not over.

It's just getting started because now that you don't have any payments, now that you have control, now that you said your dreams grow into goals, Chris will walk you through exactly how to do that because now we want you to be millionaires and outrageously generous along the way, okay? Congratulations, you two. All right, Christopher and Hannah, Washington, D.C., $58,000 paid off in 24 months, making $56,000, and he sold the Mustang. Count it down. Let's hear a debt-free scream.

Three, two, one. We're debt-free! We're debt free! Well done, you two. Boom! That's how it's done right there. I love it. I love it.

Very, very, very well done. All right, let's go to Jill in Nova Scotia. Hi, Jill. How are you? Hi there. I have just started my debt free journey. Hi, Jill. How are you? Hi there. I have just started my debt-free journey, and I am trying to prioritize my debt snowball. When I get my credit cards paid off at the end of this month, next on the docket is our two car loans, which are valued at 0% interest. So I'm not sure if that should be a priority over our line of credit, which actually has interest on it.

The answer to the question is the debt snowball is where you list your debts, not counting your home, smallest payoff balance to largest payoff balance, regardless of interest rate. In case of a tie, I would switch them around. And, you know, like if one's $4,200 and one's $4,100 and one's 0% and one's $18, well, I'm going to knock the $18 off, right? Right, exactly. But if one's $8,000 and one's $4,000, shut up and pay the $4,000 off regardless of the interest rate. Regardless of interest.

Okay, perfect. If they're real close, though, you can switch them around a little bit. But I'm not switching them around based on interest rate because you need that advantage of having gotten traction. And traction just does everything for you. Thanks for the call, Jill. You know, traction is a big deal. Almost anything in our life, we will keep doing it if we feel and can see and visualize and sense that we are making progress.

What people give up on is when they're no longer making progress. It doesn't matter if the progress is super slow. As long as I can see it, even if it's like drip, drip, drip, drip, drip, it's real slow. As long as I can see it, as long as I know there's progress, as long as I can look up an hour later and there's some progress, I don't care. But I have to know there's some progress. And so this sense of traction, this sense of progress will motivate you and cause you to go to run harder, to go deeper, to cut further, to do everything with more intensity when you sense progress. And that's the power of the Dead Snowball,

is it utilizes that very principle in behavior modification. And when you don't see progress, you quit, including your job. Feel like a rat in a wheel? Don't do anything. I just run just a cog in a wheel. People quit those jobs because they don't see that they're part of something that matters, and there's progress.

There's traction. This is the Dave Ramsey Show. Thanks for joining us, America. This is the Dave Ramsey Show. Jennifer is with us in Baltimore. Hi, Jennifer. How are you? Thank you so much, Dave. Thanks for taking my call.

Sure. What's up? Dave, I have a dilemma. I purchased two office condos in 2012, hoping that I move my office to one of them, which I have done. But the other office condo, which is vacant and empty, I have started aggressively, you know, marketed to see if I can find a tenant. I hired a commercial realtor, and she has marketed for the past six months, and we cannot find somebody to rent this place. Now, this condo is not developed inside, so it doesn't have, like, drywall ceiling or carpet.

It's an empty shell. And the going rate for office condo... How many square feet is it? I'm sorry, first floor. How many square feet? 1,200. Okay. Do you have the money to... Now, the going rate here for an office condo is $19 to $20 per square feet, and we have

marketed this place for $16 per square feet, and I thought that it will quickly go, but it's not happening. Do you have the money to finish it out? Yeah, well, I don't have the money to finish it now because I'm paying my debt. You know, I read your total money makeover, so I'm aggressively working hard trying to pay my debt. But I can find $60,000, but maybe in five or six months. But my commercial realtor says that I have to develop inside their office and then market it. But there are other office condos in the same professional building that have been developed, but they are not also going.

They are not leased. Well, there's no guarantee that it will rent. Obviously, it's not a hot market. But the typical buyer or the typical user in a small 1,200-square-foot office condo is a small business. And they typically don't have the money or the imagination to look past the fact that it's not ready to move into and if it's sitting there ready to move into turnkey then that you're going to have a lot more luck because these aren't um sophisticated real estate um

tenants that are used to coming in and doing leasehold improvements and so forth they're not large in that regard. And so they're probably coming out of their living room, moving into their first office in a lot of cases, or they've got just a small operation of some kind, and they don't want to think about construction or what something looks like or waiting for all that to get done. So I think that's a holdup.

I don't know that it fixes everything if you build out the inside, but I think you're going to struggle to get it leased until you do that, especially since it hasn't been snapped up already. You've got it at a really good price, apparently, and nobody jumped on it, right? So we've got to do something to get people to get it woke up. Of course, the other option is sell it. That wouldn't be a bad idea because obviously it's not a huge blessing to you at this point. And it's not a wonderful investment.

There's nothing about it that sounds super exciting right now. So if you can get a buyer, that would be a good idea as well. I might consider going that direction lisa is with us in washington dc hi lisa how are you hi dave hey what's up okay my husband and i have aggressively started baby step um two good And we have debt totaling $160,000. Our income annually is about $172,000. Good. We have about $300,000 in our 401Ks.

We have a mortgage loan. We're 50 and 56. So our dilemma right now, I've stopped my contributions to my 401K. My husband, however, is still contributing. And he's concerned with our ages. If both of us stop contributing, what will happen? But according to the debt snowball, we shouldn't be contributing. So we're kind of torn right now what to do.

Okay. Well, if I were asking him to not contribute for an extended period of time, I would have to agree with his conclusion. But you make $170,000 a year. How quick are you going to pay this debt off? I planned it all out, and we could be out of debt in two years. Good. So we're not stopping contributing so long that you're going to completely cripple your retirement plan.

It's two years. Okay. If you don't put money in for two years, so what? You already got a pile of money in there, and then you got the rest of your life to pile money in there. So his logic is faulty.'s being emotional okay because no one's asking him including you or me to stop permanently putting money in and act like he's going to be okay i've never said that we said the opposite as a matter of fact the whole purpose of getting out of debt is so we can load up you know our investments and become wealthy and load up our generosity and enjoy our lives, right? That's the whole reason.

So, yeah, you need to stop temporarily and completely emotionally, financially, spiritually, relationally focus on destroying this debt. When you do that, the debt will go away very quickly. And I agree with you, two years. It might even happen faster. You might be surprised. But it's somewhere around there. And, you know, that's not going to kill your retirement.

It's not going to say, you're not going to get up and be 77 years old and you go, you know, that two years we took off, that ruined everything. It mathematically just isn't true. And so um you know if i was saying be out of there for 10 years yeah that would be a valid thing to think about and i don't tell people to do that by the way because it doesn't take 10 years for people to get out of debt uh so that's what i would do yes i would temporarily temporarily temporarily temporarily stop contributions when you're in Baby Step 2.

Thank you, Lisa. Travis is with us in Midland, Texas. Hi, Travis. How are you? I'm good. How are you doing? Better than I deserve. What's up?

I got a quick question. I am trying to decide whether or not we should sell our house or wait. We are trying to get started on everything just now getting going um and i'm tired of having student loans and my wife finally came on board and we are ready to get it going okay wait why would you you mean you're going to sell it someday anyway right yes sir okay we're what what not counting the get out of debt part, tell me about the selling of the house. What's the plan there to move someday? I mean, what's the plan?

Well, what our plan was eventually, we didn't want to stay in this house forever. Right. But what our plan was, was to, we had the opportunity to get like a cheap trailer, live behind. My family has some extra land. We could live behind them for free. And they were like, this is a great opportunity to do it. You know, you could come and live here and just pay everything off.

And so we were going to do that, take what we made. What's your household income? 90. And how much of that the house. What's your household income? 90. And how much debt do you have not counting your house? 88. Okay. When you sell your house someday, what was your plan? It wasn't a trailer.

No. I mean, someday we would move into another house, you know? Okay. So there's nothing really pushing this. It's not like, I hate this house. The whole thing is just to get out of debt faster. Right, exactly. And how much debt did you say you had again, not counting the house?

88. And what's it on? Mostly all student loans. How much do you owe on your truck? On the vehicle, we have 13. Okay, that's it? And then there is like 2,000 in credit card and the rest is student loans. Okay, so it's going to take you two really hard years,

or two and a half years probably, to clear this if you stay. Well, and here's the kicker, okay? This isn't something you recommend, I guess, but I just want a $75,000 scratch-off ticket. Okay. Well, no, I don't recommend it, but you're going to take the money and pay it on the debt. Right, exactly. So now why are you moving into a trailer again?

You're not. Well, the plan was to take that, you know, after taxes or whatever, it's like $52,000. Pay it on the debt, and then you're out of debt in one year. And no, you're not moving into a trailer. You stay in this house until you get ready to move. And when you get ready to move, then move. But that's your plan. Hey, thanks for the call.

That puts this hour of the Dave Ramsey Show in the books. We'll be back with you before you know it. Yeah, with scratch-off tickets and everything. Right here on the Dave Ramsey Show. Hey, guys. This is James Childs, producer of the Dave Ramsey Show. I'm excited to announce that we're now carried on 600 radio stations across the country. To find one near you, head to DaveRamney.com slash show.