The Ramsey Show - App - Get a Second Opinion When Dealing With Your Car (Hour 1)

Episode Date: July 24, 2020

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🎵 Live from the headquarters of Ramsey Solutions, broadcasting from the Dollar Car Rental Studio, this is the Dave Ramsey Show, where America hangs out to have a real conversation about your life and your money. My name is Anthony O'Neill. Sitting in with me today here and co-hosting with me today is the one and only Dr. D, formerly known as dr john deloney how we doing anthony man i'm doing well i'm doing well it's a beautiful hot friday i'm

excited because i get to leave out today to go pick up my dog so i can't wait your dog is back man my dog is gonna be it's gonna be amazing man it's gonna be amazing so we're not here to talk about dogs we're here to talk about your life and your money so give us a call 888-825-5225 uh 888-825-5225 um if you're watching on youtube give us a call charlotte uh eaton i told you to go ahead and give us a call tell kelly i told you to call in i like a question on youtube i think the world could uh use your questions i know other people were asking it so if you can get through give us call, 888-825-5225. You know what? Let's just go straight to the phone lines.

Let's go to the phones. We're live now. Let's go. Let's go out to Virginia and have a conversation with Juliana. Did I say your name correctly? Is it Juliana or Juliana? Juliana. Okay, cool.

Great. Thanks for calling in on this beautiful Friday. How can Dr. D and I help? Yes. So I'm having vehicle issues, and the transmission is about to go out in my vehicle. I have $4,500 saved up, and I was just wondering if I should buy another vehicle or if I should put it to my debt. Oh man. Okay. This is a good question. So you have $4,500. You're still in debt. How much debt do you have left right now? Um, I have left $7,970. Okay. $7,900 in debt. What kind of debt is that left right now? Do you have left?

That's medical debt. Okay, so we got medical bills. Juliana, where did you start? How far have you paid off? I have paid off so far. I originally had $12,000 of debt. Okay, so you paid off about... So you're almost halfway there, huh? $4,100, That's real good.

Tell me a little bit about this car, Juliana. What kind of car is it, and how much is it worth right now? It's a Jeep Liberty Sport, a 2004, and it's worth about $2,000. Okay, how much do you owe in the car? You don't owe anything on it,

right? No, I don't owe anything. I pay for i don't know anything i paid for it in cash there you go what's wrong with the jeep um the transmission is about to go out so when i took it to the shop the other day they recommended that i just go ahead and buy a new vehicle okay all right and it was this the only shop you took it by um yes okay here's what i recommend in this situation because right now you need a vehicle was this the only shop you took it by? Yes. Here's what I recommend in this situation because right now you need a vehicle.

How much do you make a year? What's your annual income? My annual income is around $24,000. What do you do, Juliana? I work in a warehouse. Okay. Here's what What do you do, Juliana? I work in a warehouse.

Okay. Yeah. Yeah. That's especially out there. So here's what I'm going to recommend for you in your situation there, Juliana. What I want you to do is I want you to go ahead and take this by another mechanic. Okay. I want you to get another quote. See if someone – and tell them your situation up front.

Tell them, hey, you know, I don't make a lot of money. If you're a single parent, you're a single parent, tell them that you're a single parent. And just say, is there any way we could do something to at least get me another two, three years out of this vehicle? And just ask them to give you their honest opinion. You know, hey, we could do something here. We could do something there. If they say yes, go ahead and use that $4, uh to go ahead and get that fixed use some of it you shouldn't be spending forty five hundred dollars on it um and then if they say no

then i don't have a problem with you having that forty five hundred dollars to purchase a new car i would sell the jeep for two thousand where is that and honestly i'm gonna try and find a car for right around four or five thousand dollars uh take three thousand dollars to go towards that and keep a thousand dollars into your emergency fund and then go back to your baby steps because you're at $7,900 left on paying off your debt. So you're not too far off. But right now you are in a situation. You know, I definitely want, especially our ladies in the world right now, I want them driving safe, you know, and I want them to have a reliable car to get them to point A to point B and even point C. It doesn't need to be luxury.

It needs to be something dependable that can get them to point A to point B and even point C. It doesn't need to be luxury. It needs to be something dependable that can get them there. But I definitely want her to get a second opinion because I think sometimes the first opinion, especially with ladies, it's another option to maybe bring like a male friend with you, like a male big brother, maybe a male friend, or if you have your father still around in your life, maybe bring a male with you and have them lead the conversation. Because honestly, sometimes, unfortunately, some of these mechanics take advantage of when they see single ladies come in. So I can imagine, Anthony, it's frustrating when I decide I'm going to get on a plan and I'm going to work really hard and start driving towards paying off my debt, following the steps, following the steps.

And dude, then my car starts falling apart. What do you tell somebody that's just frustrated? Like, I'm doing it all right, and it still didn't work. I mean, I would say it's life. I mean, that happens, you know? I mean, heck, I had a huge plan to pay off my house this year. Then all of a sudden, corona happens. You know what I'm saying?

There's nothing we can do about life happening except except no for a fact it's gonna happen exactly you know my father taught me the the six p's growing up because he was in the marines and he said anthony you have to properly priorly plan so you can prevent poor performances and so his his thinking was properly priorly planned well if you know something in life will happen whether that's car breaks down whether you get sick and you got to go home for three months whether that's corona uh rather that's you just want to leave your job and start something new you know you got to have a nest egg so properly proudly planned because if you don't then when corona hits you're struggling you're. Then when the car breaks down, oh, my goodness, you're struggling.

You're hurting. Then when life happens, you're struggling and hurting. And so what I tell everyone when they start out on this journey, you guys, life will happen. Follow the baby steps. We want you to have $1,000 just for your big-time emergencies. Now, here's the truth. Is $1,000 enough? No.

The $1,000 Baby Step 1 is not designed for it to be enough. It's designed to put you in pressure to get out of Baby Step 2 quicker. Because when you get comfortable, you move comfortable. And so when you move comfortable, that means you move slower. No.

You know, I need to get out of this debt. I need to be strategic. I need to tell my boyfriend. I need to tell my girlfriend. I need to tell my friends. I need to tell my family. I need to tell them. I need to tell myself no.

So this way, I can get a baby set number three and go ahead and get a three to six months of expenses and go ahead and start investing into my future. You're not running like a gazelle anymore. You're stopping in the field. You can breathe. You can relax. Now, from a mental perspective, though, I perspective yeah i gotta so that's the practical how do you get over that emotionally when life happens out of nowhere for me it's a it's a it's an alignment of expectation not of experience and so it's something it's just important to know it yeah right it's just important to know it um my wife and I have been under contract on four different places, four different houses in the last six months.

Since you joined here? Yep. And we keep having inspection issues. And then we had another one pop up on house number five. We had one pop up yesterday. And now we've got to the place we expected. So we had a couple hours of downtime. We were frustrated.

And I woke up today. Let's solve the problem. Let's move on. And I know it's coming. I know there's going to be challenges. And I'm not going to get defeated by the challenges or by the idea of a challenge because I know it's coming. If it didn't kill me, it made me stronger. I love it.

Sometimes. America, this is what you're going to get for the next three hours, Dr. D and myself. So we want to hear from you. 888-825-5225. We'll be right back. Families all over the country are discovering a faith-based and budget-friendly way of meeting health care costs, whether they're anticipated or completely unexpected. For example, take the Olcheski family from LaGrange, Texas.

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and is a Better Business Bureau accredited charity. It's Christians helping other Christians and it shared nearly $97,000 to help the Olcheskis. To be a part of Christian Healthcare Ministries, visit chministries.org. That's chministries.org. CHM is a proud sponsor of Dave Ramsey Live Events. man you know i really enjoy the dave ranji show because we have one of the best producers he knows how to choose that music coming in and coming out so james man keep up the good work

keep up the good work man up the good work I love it we're going to go out to Denver Colorado have a conversation with Charlotte Charlotte good afternoon how can Dr. D and I help hi can you hear me yes we can how are you this afternoon I'm good how are you

I'm doing well I'm doing well how can we help so I'm just trying to I think I've made a decision to can we help? So I'm just trying to, I think I've made a decision to go back to school and I just kind of want reassurance that it's the right decision in the right time. Oh yes. Charlotte, are you from, are you one of our YouTube fans? Yes, I am. Yes. She called in. You listened to me. Thank you. All right.

So help us out, you know, break down what, what, what's going on with your situation charlotte uh what are you thinking about yeah so i already have a bachelor's degree in chemistry um i got that about three years ago and i'm currently in a job working for a lab as um a sales associate i really didn't like being in the lab so i thought maybe going and working with people would be better and really don't like the travel or the job in sales. And originally, I went to school for pre-med and just decided that medical school is not the right route for me, and so now I'm thinking of going back to school to get my arm and then to become a nurse.

And so I'm looking at starting a program in January. The program costs $7,000, and it's an 18-month program. I'm planning to pay cash for that program. Man, I love it. So, Charlotte, where are you on the baby steps? What baby step are you on? I am on baby step two. I have $9,000 left on my car. Okay, $9,000 left on the car.

What's your annual income right now? Right now I make $9,000 left on my car. Okay. 9K left on the car. What's your annual income right now? Right now I make $48,000. 48K. Okay. And the 9K is just on your car only, right? Yep. I have no student loans, no credit cards, nothing other than the car. I mean, you know what?

Here's the thing. Here's what I'm going to recommend to you, Charlotte. And you already know what I'm going to tell you because, you know, you watch us every single day on YouTube. I recognize your name. I'm going to suggest I don't have a problem with you going to school to pursue the RN. Here's what I do want you to do

because you're making decent money right now. I want you to go ahead and get out of debt first. This way, when you get out of debt, go ahead and get the three months set aside. Then you can go ahead and cash flow to 7K. I'm saying spend at least one more year paying off your debt, going ahead and get the three months set aside. Then you can go ahead and cash flow to 7K. So I'm saying spend at least one more year paying off your debt, going ahead and getting your three months of reserves. Once you do that, then you can really breathe and just focus on moving forward with your future and focus on the RN process. Because 18 months of school in the RN, I know several nurses, it's not the easiest journey.

So I want you to take some debt off of the table. Then, yes, absolutely, go ahead and go after that. Because your goal from making $48,000 to possibly making about $65,000 to $70,000 to $80,000. And then what I would recommend, Charlotte, how old are you from Miami asking? I just turned 25 yesterday. Any kids? No, no kids. Oh, yeah. So I'm going to recommend you take the RN and you hit the road and travel. I just turned 25 yesterday. Any kids? No, no kids.

Oh, yeah. So I'm going to recommend you take the RN and you hit the road and travel because right now traveling nurses are making anywhere from $2,000 to $4,000 a week traveling. So you'll go from making $48,000 a year to possibly right at about $80,000 to $100,000. So go ahead and move slow. Pay off this debt. Okay. to $100,000. So go ahead and move slow. Pay off this debt. And then once you pay off the debt, get that three months in reserves and then boom. Go ahead and pay for school

and you're going to be a sharp 26, 27 year old young lady really, really, really making some good decisions because now you can focus on your future. You went to school. I did. You have like a doctor's degree. I do. You know?

You're looking like, I don't know. No, I love people who get their degree, they go work in their field, they are successful in it, and then they start to think, okay, I want to take these skills and leverage them towards a helping profession. I just have such respect for nurses,

people who want to be a part of that field. Anybody who wants to be a nurse right now is looking at a felt need out in their community, right? Because nurses are just getting hammered right now. And that just tells me Charlotte's the kind of person I want leading in my community that my kids are growing up in. One thing I would tell Charlotte, I think making that kind of money as a single 25-year-old, I think there's a way she can hammer it and figure it out and still keep that January deadline. I think there's a way to find some things on the side, side hustle, figure it out, and you don't have to lose your spot. And then you can slide into that January class debt-free, ready to rock and roll. And, yeah, a nursing program in 18 months is going to be drinking from a fire hose. and then you can slide into that January class, debt-free, ready to rock and roll.

And yeah, a nursing program in 18 months is going to be drinking from a fire hose, and so she needs to go in there with her heart and mind clear of any debt, but man, go get it. I'm excited for Charlotte. I'm excited for her, too. Charlotte, thank you for calling in, and also thank you for watching on YouTube. And those of you all listening right now,

if you're on the radio every single day from 1 to 3 p.m. Central Standard Time, Dave Ramsey himself and all the, if you're on the radio every single day from one to 3 PM, central standard time, Dave Ramsey himself, and all the personalities, if we're on the show, uh, we're, we're live,

you know, on YouTube. So go to Dave Ramsey, not go to Dave Ramsey, go to youtube.com and just look up the Dave Ramsey show live. And you'd be able to have a conversation with all of us live. I'm on there every single day when I'm on chatting, looking at the comments.

And so join, join the YouTube family going out to New York city. we're going to have a conversation there with Sabrina. Sabrina, thank you for calling in. How can Dr. D and I help? Hi, Dr. D. Hi, Anthony. How are you guys? Man, it's hot out here in Nashville, Tennessee, but we're doing all right.

That's good. That's good. How are you? I'm doing okay. I'm doing okay. Thank God. Um, I,

I was calling cause I actually spoke to you guys last month. I think it was last month. Um, asking you guys what, what to do thinking that our landlord would raise the rent on us. And you guys told me to have a conversation with her asking what her intention was. And I spoke to my husband and we decided we wanted to wait until August to ask her, um, to have that conversation with her asking what her intention was. And I spoke to my husband and we decided we wanted to wait until August to ask her to

have that conversation with her. But this week she served us with a notice to vacate the apartment. Oh, yeah. Why did she do that? I remember this phone call. So why did she do that? I'm not sure. I don't know.

Like we pay our rent on time every month in full. And even during the whole Corona virus, my husband wasn't working and we've been like surviving off of like $2,000 a month, but we still paid our rent. Um, and, um, yeah, so she just decided to, um, she wants us to vacate the apartment. So why did you wait until August to have that conversation? Because normally she comes to us around like September or October to tell us that she wants to raise the rent and it's going to be starting in like November. So we decided we wanted to wait until August to have that conversation.

Yeah. I don't like her. I'm just going gonna be real you know so i mean my thought would be like ah go and fight this you know i mean because if you all are up underneath a contract there there are some things that cover you um but since she is saying you know get out uh yes get out but i think i remember the conversation you all if you move out you're going to eventually be paying more money because you had this situation at a good deal so yeah i think I remember the conversation you will if you move out you're going to eventually be paying more money because you had this situation at a good deal so yeah I remember I remember the phone call I remember

my people so here's my thing here's where you at Sabrina she evicted you not evicted you but she said hey we're going to end this contract okay cool I don't I don't even want to work with someone like that who can just do that to me right now it's just time for you to start looking, honestly.

I hate to say it, Sabrina. That's why I really wanted y'all to have a conversation last month, just so y'all can have some time if the conversation wasn't going to go the way that I wanted it to go for you all. But since that is the case, Sabrina, it's time for you all to go ahead and just have

a conversation. Real quickly, how much money do y'all have saved right now to make a transition? So right now we are on Baby Step 2. So we only had $1,000, but we decided to go into store mode, and we're pulling money out of, like, different places. And we figured that by October we could have approximately $25,000. $25,000. Okay. $25,000 to do what?

Move and to buy a house or move to rent something? Yeah, move to buy a house. No. No, Sabrina. You know that. No. No. And when do you all have to be out of the house?

October. October. Okay, cool. So here's the thing. Here's the thing, Sabrina. Don't buy because you're still on baby set number two. Right now, go ahead. Yes, pause baby step number two. Go ahead and get some money up so you can transition into an apartment. Finish paying off the rest of your debt. Okay. Then what I want you to do is go ahead and get three months. Then 3B, start saving for a house. But right now, you don't need $25,000 to go get in a house, you need to transfer, get an apartment, sign a lease for maybe one year or two years, then you'll be alright, this is

The Dave Ramsey Show Most people's money problems come from not paying attention. That's why before I spend a dime of my money on something, I do the research and I make sure it's going to live up to what it claims. Recently, I got a great pair of sunglasses from a company called Shady Rays. When you're looking for sunglasses, it feels like your options are limited. Name brand sunglasses cost too much, and the cheap knockoffs are ugly, and they don't really protect your eyes. Discovering Shady Rays is a game changer. With Shady Rays, you can count on premium sunglasses that protect your eyes, and get this, they're affordable.

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And if you listen to podcast two, you are going to absolutely love this. It's the brand new Ramsey Network app. It's like a podcast player with all the cool shows in one place. That's right. This is how you get better in every area of your life. We're talking about the Dave Ramsey show. Of course, the Chris Hsey Show, of course, the Chris Hogan Show, the Rachel Cruz Show,

the King Coleman Show, the Christy Wright Show, Entree Leadership, and one of my favorites, my personal podcast, the Borrowed Future Podcast, and coming up soon, Dr. John Deloney's show will be in there. So we are working on it right now this morning. Kelly Daniel, James Child, Zach Bennett, and the whole crew, man. We're working on the Dr. John Deloney show, and we're going to be launching it here soon. I'm getting excited.

So wait, wait. James is going to be helping you out with your show? He's helping build the infrastructure. We got Kelly there. More Kelly than James, let's be real. But yeah, they're both helping behind the board and getting this thing off and running. I'm excited. That's interesting.

They didn't offer to help me out with my show. Okay. The rookie come in here and he get the pros. Okay. All right. We get the pros. We get the pros. You know, the coolest thing I love about this thing, man, is you can browse by any topic,

save your favorite clips, and share them with your friends. Help them get better in life. So never again should you struggle to find the education and empowerment you need to improve your life i want you to download our ramsey network app today in the app store you guys open up the app store google or apple and if you're rocking with me we do apple over here and search the ramsey network again search ramsey network and you will find it you know uh talking about shows, I'm really excited. Just recently, I released a singles panel on my YouTube show called The Table with A.O. And every quarter I'm going to do a panel interviewing different people. February, I did a black history panel has over like a million views.

I did a singles panel where I'm just talking with singles and just really diving in deep to how do we think about money? How do we think about life? How do we even think about just growing healthy relationships and it went viral I mean it just went viral people are loving it and I'm super excited because man next week I've been invited to come on a singles panel well actually to a women's conference called Women Evolve with Sarah Jakes Roberts, T TV, Jake's daughter and the wife of Tori Roberts, one of my mentors. Um, and Sarah is just killing the waves right now.

She's just killing it. And she said, Hey, I want you to come on. Let's have a, uh, let's continue the conversation. Um,

and so I want to encourage you, man. I want, I want the Ramsey family to come over there and, and support me, uh, because I need some love, but I'm on this panel with a bunch of ladies just having a conversation.

I'm the only guy. I'm going to get some popcorn and watch that myself. I can't wait. I can't wait. It's going to be a good one, man. I love Sarah. Go to womanevolved.com, you guys. Go to womanevolved.com and you can register.

I don't know the cost. I don't even know if there is a cost, but I would love to have our Ramsey family and the AO tribe come over and support me so I can feel good on the panel, man. Because, I mean, I love the fact that the video did very well. The last thing I want to be known for is a singles expert. So I told Sarah out. Because I ain't trying to be single forever, you know. I'm trying to be like the couple out here looking at us laughing,

and they're like, yes. No, I don't want to be a singles expert. I want to be a married guy who's passionate about money and life. So I need y'all to help me. You're the one that keeps signing up a singles expert. I want to be a married guy who's passionate about money and life. So I need your help. You're the one that keeps signing up for singles conferences. I'm just saying. I mean, well, I'm single right now.

What am I supposed to do? Tell them no? I'm just saying you're choosing the car that you want to drive in is all I'm saying. Listen, man. Listen. And plus, that's Sarah Jakes. I mean, I love her. You say yes to Sarah Jakes. That's right.

I would say you say yes to Sarah Jakes. Tore and Sarah Jakes, I just, yeah, whatever you need. As long as it doesn't contradict or conflict with what we're doing with Ramsey Solutions. There you go. But I'm just excited. Seriously, go to womanevolved.com, you guys. I want you to check it out. Register for the conference.

Not only will it just be me, but she has some amazing stuff for ladies. So any single ladies or any ladies at all, just go check it out, womanevolved.com. Let's go over to Dallas, Texas and have a conversation with Renee. Renee, good afternoon. How can Dr. D and I help? Good afternoon, Dr. D and Anthony. Really quickly, Anthony, I love everything you're doing with the AL show and the table. So keep going at that. Say that one more time for the world, you know,

so the world can hear you say it one more time. the world, you know, so the world can hear you. Say it one more time. I love everything you're doing at the AO show, guys. If you're not checking it out, go hop on it. He has some amazing content and really good information. Oh, man. Thank you so much, Renee. How can we help? Yeah, so I'm on Baby Step 2 right now.

I do currently have about $100,000 in student loans, which is my only debt, and I'm trying to aggressively pay that down. Say that one more time. How much? $100,000. Are you a physician? I'm a mental health expert and a teacher. Renee, come join the show.

We need you. I'm there. I'm there. So my grandparents have a house that's been in our family for over 50 years, and it's just too much for them to kind of take care of right now. So they're transitioning out of the home. It's worth about $200,000, maybe a little north of that, and they're willing to. Rent here is about $1,400 a month, if that kind of helps put things into perspective. Can you rent this house from them until you're in a position to buy it, since it's a family home, or do they need $100,000 cash? I could, but I think that it would cause some family issues, because it's kind of been a safe haven for a family to kind of come and go whenever they need a place to stay. And if I'm renting it from them, I feel like it'll kind of be open for everyone to feel like they can just come and go as they please.

So I'd rather own it just to kind of keep down on that. So I would tell you, Renee, I think you know this, but if you buy that house today, it will still be that house for your family tomorrow? No, not at all. You think you would shut them down? Oh, I mean, with me, they have boundaries in place. Especially if they know that I own it, it wouldn't be an issue at all. But as long as my grandparents are the official owners of it i think that that may be an issue do you like the house renee like if it wasn't a family house um if it was just a regular house

that you were just driving by out with a real estate agent uh would you purchase the house for you and your family because it's an extremely large spot in the neighborhood and I think it's an amazing location. It's a very centralized location. It's in a safe

neighborhood so I would buy it. So here's going to be my thing, Renee. I'm like right there with John. I hear you

when you're saying you're going to save $100,000. But this is what I tell everyone. And you watch my channel, so you already know what I'm about to say. Yeah. You know, will your mortgage payment be cheaper than your rent at $100,000? Absolutely.

Will that house be cheaper than you renting something? Absolutely not. So I'm having a conversation with grandma and saying, listen, can you and I have a contract, have an agreement? Can you and I keep this between us or a whole family doesn't know?

I'll rent this house from you. I'll take the mortgage payment off of you. I will do it. But I want to pay off my debt. So this way, me and my family are in a good financial place. And then after I pay off my debt. So this way, me and my family are in a good financial place. And then after I pay off the debt, I will pay, I will buy the house from you. And if the house is worth 200, I'll give you a hundred thousand, uh, from there. Um, but I mean,

I'm not going to jump into debt right now. Uh, Renee, I don't want you to do that. Not in babysat number two. And I get it. It sounds like a great opportunity because you're saving $100,000 when it comes to you walking in with $100,000 in equity. But at the same time, you're still picking up a lot more expenses

from the future. Because if it's 200,000, that means it's not a new house. So what I want you to do is have a conversation with grandma and say, listen, what can we do? Am I in a position to do this? No, I'm on a debt-free journey. I rock with AO, I rock with Dave, I rock with the Ramsey family. I want to do this thing right. But I also, I want to help you. And I love the house. What can we come to an agreeance on to where I can

move in, help you with the payment, give you some freedom, but still I can have this house for the next two or three years. Well, how much are you making a year right now, Renee? It's about $85,000. Yeah, $85,000. Okay. So if you really live below your means for like this, this, this, these next few years, I'm telling you, Renee, you can attack this thing and be debt free with the next two years.

And I think two years for your grandmother is a great time. And I want to respectfully disagree with Renee. And since I've got the hold button, I can. Grandma's house is always grandma's house. And I know boundaries are boundaries, but grandma's house is always grandma's house. Especially when it stays in a family. Only right here, you guys, on The Dave Ramsey Show. Wow, bro. 888-825-5225

Sitting here with Dr. D In this beautiful Hot city Nashville, Tennessee. It's 99 degrees here. How are you feeling about this weather, man? I'm a Houston kid born and raised. I love me some hot weather, so I'm loving it. All right, man.

You're loving it. I'm not loving it. I'm really not. I love it. I can't afford to get any darker. It's good fishing. Well, I sure can, man. I'm really not. I love it. I can't afford to get any darker. It's good. Fishing. I sure can. God knows I can.

I need to be outside all day long. All right. Sounds good, man. We're going to go out to Morgantown and have a conversation with Courtney. Courtney, good afternoon. How can Dr. D and I help? Hey, guys. I appreciate you taking my call.

I'm happy to get some advice for you. I have a question that has to do with money and family. Uh-oh. Uh-oh. Yeah, which is why I need help, why we need help. So my husband and I were married. We just had our third son. So we're on baby step two, and we paused it to pay cash for our third son,

which we're really excited about. Congratulations. Thank you. Yeah, we celebrated that little victory. But my question is, before we were together or married, he took out a $25,000 student loan for school and his mother and his grandmother co-signed it for him. And then they, at some point later, paid it off, decided the interest rate was too high and paid it off without telling us. Like, we did not know.

And then we just got a call from his mother a couple of days ago and she, she's wanting us to pay her the money back plus the interest. And that's the basic gist of it, but it's more complicated than that. His grandmother and mother kind of split it between them. 20,000, the mom paid 15,000, the grandmother paid and she wants. $20,000 the mom paid, $15,000 the grandmother paid. And she wants the $15,000 that we owe the grandmother, so we don't even owe it to her. But if we don't pay the grandmother before she passes away,

it will be taken out of her portion of the will, of money that the grandmother would then give to the mother in the will. And it's just caused all kinds of family drama, and she's not wanting to talk to us because you know we didn't know a lot of this and we were kind of shocked and just trying to figure out what was going on and what was going on before this because this usually somebody calls their dead end when something else is going on are they upset with you for other things or has there been some more turning in the water well i think it think it's two-sided. I think one side is we've been very vocal about our financial success that we've had.

Ah, there you go. We've paid off about $30,000 of our own debt so far, and we just paid cash for our son. And we started out really low. We started out, you know, with $30,000 and a ton of student loan debt. So we've been really vocal about we love Dave Ramsey. We love the plan. We're doing the plan. Check out our success. And then I think the other part of it is the grandmother, the land that my in-laws live in,

live on is owned by the grandparents and there's a shop on it, like a building. And they want to buy that building before the grandparents pass away. And they brought that up. And I think that's also another reason why they need money right now is because they're wanting to buy that building before they pass away. And most of the grandparents are in their 90s. Gotcha. So it's not like they – we don't know what to do. Yeah. So there's a couple of things here, and I'd love to hear Anthony's thoughts.

So, number one, do you have $25,000 or $35,000 to write a check with? No. Like, we're on baby step two, and we just picked it back up. We paused it to pay cash, so we have a salary right now. Okay, so you can't write them a check for $35,000, so that's number one. Number two, you're not going to take out a loan and pay them $35,000 back. Number three, if your husband took out a loan and they co-signed it and they paid for it, I would go with maybe not legally, but the integrity says he took out a loan and they co-signed it and they paid for it, I would go with maybe not legally,

but the integrity says he took out a loan and they covered for him. So if they want to call the loan, however lame or ridiculous or two-sided or whatever that is, the reality is he took a loan out from them. And so I would call them back and say, fair enough. I don't like how y'all did this. I don't think this is an ethical way to do this. But I don't have $35,000 to give you right now. So I'm going to put you on my debt snowball and when I get to that portion of that then we'll work on it there. But I'm not going to be able to

write you a check for $35,000 so you can buy a warehouse in a couple of days. What do you think, Anthony? Totally agree with you. I could not have said that better. I think it's what you and your husband need to also do is rally up because this is going to affect your grandkids this is going to affect y'all two relationship and so you and your husband have got to be united on this conversation otherwise man

this this kind of money nonsense and family just spins in all kind of weird circles and suddenly these beautiful three little kids of yours don't know their grandparents and your grandparents hold you hostage and it just gets messy so be clean be boundary i mean have firm boundaries call it what it is and then move on but you don't got 35 grand so that's an easy decision right now love it going out to uh new york city we're going to have a conversation with keisha keisha good afternoon how can dr d and i help oh my god good afternoon. I'm really nervous. Hi, it's nice to talk to you both. Oh man, don't be nervous. We're just two normal people. We love talking to you, so how can we help?

Not at all. So I just have a quick question. I'm a registered nurse out in New York. I'm a new listener. Okay. And I have a question about... I said, welcome to the family.

Thank you. I just have a question about tuition reimbursement. Let me just give you a little bit of background. So far, what I'm hearing in the show, you're asking for income and such. My husband and I have a take-home income of $95,000. Okay. And we're currently cash-filling a wedding because COVID stopped it this year.

Okay. So we got a little delayed, so we got an extra jump on things. I just wanted to know, because I'm currently in school as well in a family nurse practitioner program, which is pretty expensive, but I'm halfway through the program already. I graduate next year, December 2021, and it's like $8,100 a semester.

So my thoughts are, what do you think about taking a loan out and then paying it back immediately at the end of the semester? My employer offers 100% tuition reimbursement. Okay. How much longer do you have? How long are you in the program? I know you said that you are graduating next December as far as in 2021, correct? Yeah. Okay. And so you're living in New York City and you're making about $95,000.

How long are you into the program right now? Halfway, you said? I'm already a year into the program, so I graduate next year. So I have one year left. I'm just in clinicals next year. So here's the thing. Well, you don't know me because you're new to the family. So I

have a huge passion for this message. And this is what I tell everybody who's currently in school. If you are in school right now and you're halfway, more than halfway there, I'm not going to recommend you to stop. I'm not going to recommend you to do

that. What I am going to recommend though is I want you to figure out how much of it can you cash flow. Now, if you sit here and you honestly tell me, Anthony, I can't cash flow none of it, I'm going to tell you to complete the program, okay? And immediately once you get out of school, you're attacking this debt. And if you have your employees pay, if your employer is paying you back, then that's great. But if there is a way you can, you can finish the program today, I'm not today. If you can finish the program with maybe putting $4,000 a month towards that. And that means you're lowering how much you're going to graduate in debt. I am okay with that. I prefer for you to wish, I wish you would have called me before you went to school so

we could talk about another program, another way for you to get through it. But right now, that's what I tell everyone. You know, if you're in school, if, for an example, if you are a freshman, yeah, I'm telling you to stop. Sophomore, I'm like, ah. Junior year and senior year, I'm like, all right, finish the program. Keisha, could you take the money that you are saving up for your wedding and, for lack of better terms, borrow from that? How much do you have saved for your wedding, Keisha?

I only have about four grand saved for the wedding. And when are you all going to do it? When will the wedding happen? So we pushed it to next year, June. Yeah. So I'd rather see you go to the JP and join the thousands of people, couples across the country

that have had their wedding plans all screwed up because of COVID. Go to the Justice of the Peace or I married somebody in my living room once. Get married and take that money and either throw it towards your debt or throw it towards that um tuition and then have your boss pay you back right throw it towards your tuition finish as much as possible debt free uh but congrats congrats

again keisha i want to thank our producer james child and kelly daniel our phone producer remember you guys the caliber of our financial future will be determined by the decisions we make today. It's been fun, America. We've got two more hours. This is The Dave Ramsey Show. Hey, guys, this is Kelly, associate producer of The Dave Ramsey Show. Did you know over 16 million people listen to The Dave Ramsey Show every week? And a lot of those people listen on one of our 600 plus radio stations across the country. To find a station near you, head to DaveRamsey.com slash show.