The Ramsey Show - App - Get Up off Your Assets and Go to Work! (Hour 2)

Episode Date: August 14, 2023

Live from the headquarters of Ramsey Solutions, broadcasting from the Pods Moving and Storage Studios, it's The Ramsey Show, where we help people build wealth, do work that they love, and create actual amazing relationships. Jade Walsh, our Ramsey personality, is my co-host today. The number is 888-825-5225. That's 888-825-5225. Megan is in Colorado Springs to start this hour.

Hi, Megan. Welcome to the Ramsey Show. Hi, guys. Happy Monday. Happy Monday to you. What's up? All right. I have a quick question for you. My car is totaled from hail damage in my insurance evaluated it. And there's two options. One, take the total off settlement, um, and a higher check. and then I would purchase a different used car or a lower check and have it as a salvage title. How much is the car worth? $15,000. So they're going to give you a $15,000 check?

Well, actually, I had added a 20% car replacement assistance. So it's actually, if I do the total loss, it'll be $19,000. If I do the salvage title, it'll be $13,000. Did you have a loan on the car? No, it's paid off. Wow, good for you. That is good. Okay. Take the check, the okay take the check the big one take the big one

yeah what would be the purpose in taking the small one wait a minute yes here's the alternative here's the alternative and it's easy for you to figure out this is how this how i'd made the decision that fast okay if you had nineteen thousand dollars in hand, would you go buy a $6,000 hail-damaged salvage car, salvage title, for your driving car? No. I didn't think so. It's the same thing. It's the same decision. You now have $19,000 in your hand, and they want you to buy this car for $6,000.

No thank you. I'll pass the only thing is that they'll they're gonna tow it if i take the 19 000 so i still have to buy you'll be able to cop so what you got 19 000 i think you can go rent a car and then go buy one rent you a car for a week and go look around find your car there you go yeah they can have it that's it's theirs once you take the money but yeah they it's their car they buy it um and you could probably actually negotiate like you know a little bit of distance between the time they give you the you know pick it up in a week give me a week to get another car after you give me my check just work on them work on them a little bit

but if even if they don't just go rent you a car. But you don't want that car, darling. No, you're right. Were you trying to do something else with the money? Do you have debt to pay off, or it was just this is that on that? Well, no. I'm on baby step three, and it's drivable. It just has a lot of dents on it. Oh, yeah. I didn't know.

It's a mess. Mm-hmm. Yeah. like it looks like a teenager with acne come on dan we're sorry it's bad it's bad i i had a car like i had a friend of mine did that there was one there's two guys that here working here years ago and we used to have two of those cars that had the hell beat the hail beat out of them. There you go. They were sitting in the parking lot. They looked like they'd been shot with an AR.

Oh, man. Oh, my gosh. On full auto. But, yeah, it was amazing. No, no, you don't want that. Even if you don't spend $19,000 on a car, if you want to go buy a $13,000 car, that's okay. But just get one that doesn't look like that i mean yeah yeah it's yeah you can't the problem with this other car is you

can't get rid of it once you got it you got six thousand dollars tied up in it i wouldn't do it yeah i wouldn't do it that's good hey good good question i haven't had that one in a while open phones at 888-825-5225 david's in san antonio hi david how are you i'm doing great thanks how are you today better than we deserve how can we help so i've uh got a couple questions first one i'm i'm getting close to finishing baby step two um i can see the finish line it's maybe weeks or even a couple of months away. I've been doing the baby steps, I guess, for about three years now. I didn't even know I was doing them.

I've also been saving as well, and I'm ready to move to baby step three, but I'm just scared. I admit I do still use a couple of credit cards, but I pay them off in full every month. I know you're not a big fan of credit scores, but I'm rocking about 800. I don't care. I had a, okay. You said, you know, I'm not a fan. I really don't. I know. I know. I had a couple of expensive trips over the summer. Most of it's paid for. I have one last credit card bill due. David, you were doing nothing we teach. Why are you asking our advice? Well, here's the thing.

I've got about, I have a student loan to the tune of about $6,300 and change. Now, I have $5,000 in treasury bills, and I just moved that over to my savings account down the street at my credit union. With what I had in there already, I'm sitting on about $8,800 in liquid cash. So take a trip. You got the money. Do I take a trip, or do I just drop a nuclear bomb on my student loan and my credit card and be done with it. I mean, what do you think? What do you think we might say? I'm pretty sure I know what you're going to say.

You do know, David. You know what we're going to say, David. David, David. I'm going to drain my savings. Come on, David. Don't play yourself. You know. I mean, I will drain my savings and I could rebuild it.

I mean, I've... You definitely can rebuild it. I make enough to put money away every month. How much do you make? I'm working two jobs right now, combined about $48,000. I am applying for another job. All sarcasm aside, I am really curious. Why, when you don't do anything else we say, do you care what we think?

That is a good question. You seem to be an authority on this. So I know, but you, but I'm an authority on the other stuff you're doing and you weren't doing it and you knew that. And so I'm, I'm not trying to be mean. I mean, you kind of have to decide who you is, you know, and so um i don't mind it doesn't offend me i'm going to go on with my life you're going to go on with yours so we'll still be friends you know i love you i'm glad your life is good but that if you pick and choose on the buffet of what we lay

out in front of ramsey all the ramsey things and you pick and choose you really you could almost get yourself in trouble because you sort of do it sort of do this sort of do that sort of this and then all you know you're you know you're going to run those credit cards back up statistically there's a 90 chance you're going to go back in credit card debt because you still honestly think a credit score is a good thing because you're proud of it you still honestly think while you've got this debt that it's okay to travel you still honestly are wondering whether you ought to cash out your savings and put it towards it those are honest discussions in your head but i can just

tell you from a from having done this for 30 years where all of those things are going to lead you and you can't just do one of them and keep doing the other two or three and end up in a good place, dude. We love you too much to not tell you the truth. You'll be wandering in the wilderness. I really would not pay off your debt with this money unless you're going to cut up your credit cards and start living on less than you make and plug in responsibility to the whole thing. If you're not going to do the whole thing, please don't do just a little of it.

It could bring you harm. Jade Walsh, all Ramsey personality is my co-host today. Today's question of the day is brought to you by Neighborly, your hub for home services. When you're looking to buy a home and need professional inspection, trust the Neighborly brand, Housemaster. From plumbing and electrical to roofing and siding, they inspect the home top to bottom to help you make an informed decision. Schedule a visit with Housemaster on Neighborly.com today. Today's question comes from Jeremy in Arizona. I'm having a mini dilemma over my finances and could use a neutral third party.

I have some student loans to pay off and I could have it all paid off by now, but I held off when I thought I could qualify for Biden's student debt relief plan. I was prepared for that possibility and I'm still able to pay off my remaining balance. I've heard that the Biden administration is supposedly working on another avenue for debt relief. While I know logically that paying off my debt sooner rather than later is the smart call. I know there's a part of me that will feel cheated if I pay these loans now and find out I would have been approved for relief later. I feel like I know what you'll say, but as I said, I'd feel better to hear it from a neutral third party. I don't know that I'm neutral. I just think that you need to pay your bills off. You need to pay your student debt. You've got the money sitting there.

Pay your debt. There's no relief coming. There is no relief coming. I'm telling you, the only relief there is, is 30 years from now when you're about to retire and you've worked your whole life paying. And then maybe just maybe there's a small chance, depending on who might be in administration at that time, depending chance that you might get a little bit of forgiveness who wants to live their life like that not me I like Dave I like being in control of my life I like knowing that if Jade says she's gonna do it she's gonna do it I will not and you shouldn't either live your life with this debt hanging over your head. Because when you do this, and this is not just to Jeremy, this is to anybody who's holding on to debt, thinking that there's a sliver of a chance of a possibilities chance that you might get forgiveness. Your body feels that. Your body knows you're in debt. Dr. John would say it all the time. Your body keeps the score. You know,

when you've got $50,000 in debt, that's why hundred thousand dollars of debt that's why even these uh these payment plans that they have set up and they're telling you hey it's okay you can just pay twelve dollars a month and the interest won't accrue you think you can't feel the fact that you still owe 150 000 of debt absolutely and let me tell you what else you can feel jeremy um the guy who's out there that's a welder uh the gal that's cutting hair they shouldn't have to pay your bill you know who pays it if you don't taxpayer they didn't sign up for your debt you signed up for son you pay your bill you owe it you owe it it's a moral and an ethical obligation you need to pay it quit waiting around the government to fix your life 10 years from

today 20 years from today you will be where you are based on who you count on do you count on your efforts and god's blessings or do you count on Washington, D.C.? The people that count on Washington, D.C., their life sucks. If you sit around and wait on the government to fix your life, you're going to be standing in the DMV line the rest of your life. That's stupid. It doesn't work. Waiting on politicians to deliver the goods, you will be waiting on your deathbed for it they just don't do it let me tell you who delivers the goods jeremy you do get up off your assets

and go to work and pay your bill you owe it and that guy who's a welder that gal who's cutting hair she doesn't owe your money and she shouldn't have to pay it the taxpayer shouldn't carry your burden you're not poor you're just leaning towards socialism because some stupid college professor who studied more carl marx than he has capitalism influenced you at some point that's a word you got to get off of it. Pay your dadgum bill. It's that simple. Now we got social media stirred up. There we go, boys and girls. Light it up, children.

All right. Sky is with us. Sky is in Biloxi, Mississippi. Hey, Sky, how are you? I'm doing good today. Thank you. Sure. How are y'all?

Better than we deserve. How can we help? I pretty much snowballed myself over the last 18 months until a lot of credit card debt got out of it and got right back in it. How'd you do that? What'd you do? Bought a house and remodeled it. You sell the house yet? Well, that was an option. Oh, I thought you meant you were flipping it i misunderstood okay

what how much credit card debt have you got um 65 000 all for remodeling um no honestly probably 30 35 000 of it is from remodeling it the other stuff is probably from traveling and trying other different business adventures ventures that just didn't all work out how old are you um 44 what do you make uh so i i'm right now i'm making 88 about 8800 a month but about 3500 is coming from a job that I'm probably not going to have in another couple more months. I do all contract work. Contract work on what? What do you do?

I do accounting work, bookkeeping. Okay. So you go get another one. If that contract falls out, you go get another one. I'm trying. I'm trying. You haven't lost it yet. Where are you today?

What's your question? So I know bankruptcy is not an option at all bankrupt not even close make eighty eight hundred dollars a month you have sixty five thousand dollars in debt you're not bankrupt and i know and i guess it's just being by myself and trying to pay all the bills it's hard okay you're out of control and scared right but you're not bankrupt that'll hold up i should call these i'd like to negotiate are they in collections um some of them are how far behind are you four months how much is your car payment um i'm not i pay on my house note in my car note how much is the power payment 485 and what do you owe on the house 171 and what's it worth um when i bought it a year ago

i don't know fixed you put 35 grand fixing it up correct what do you think it's worth well the lady the realtor that came over says that she doesn't think I could sell it for, you know, $210,000, what I really want to sell it for to recoup my costs on it. Well, you'd like to, but like to in reality is different things. Like to doesn't establish price. Okay, so you've got a $200,000 house. You owe $171,000 on it. And that won't even give you your money back because you did a bad deal.

Correct, yes. And you're four months behind on credit cards. You have a $400 car payment, and you make $8,800 a month for now, but you're afraid you're going to lose one of these contracts, and you're scared and out of control. Is that a good summary? Correct. Yeah. Been there and done that.

It's no fun, is it? I'm sorry, honey. I'm sorry. We can help you if you're willing to embrace it i can show you how to fix it okay definitely you're not bankrupt hon you've just been making a lot of for something is causing you to make huge moves in impulsive manners like you're lurching around like like the travel the travel wasn't logical as broke as you were, but you did it anyway. Correct.

And the car wasn't logical, but you did it anyway. Yes, I needed a vehicle at the time. But you went overboard. Yes. And the house wasn't logical at the time, but you did it anyway. So you've got to, there's something causing your decision-making process, the impulsiveness of it. I know this because I've done it myself, and that's how I recognize it,

but it was 30 years ago. But I can still smell it in the air on you. The impulsiveness is causing your financial snowball. It's piled up on you is what it is. It's like piled up over your head, and then you wake up you have a moment of reality and it's freak out moment. You can't breathe. Exactly correct. Yeah, I thought so, hon. Okay, here's what we're going to do. I'm going to put you with a financial counselor. You're not bankrupt. You just need a game plan and you've got to quit lurching around. No more impulsive decisions, okay? Slow, gentle, wise decisions from this

point forward. I'm going to pay for the financial counselor. It's not going to cost you a thing, and we're going to put you into Financial Peace University. It's not going to cost you a thing. When I was your age, I was more broke than you are because of similar habit patterns. You got to stop it to clean it up. This is The Ramsey Show. Hey, you guys. Health insurance costs are only moving one way, and that way isn't down. And if higher costs aren't enough, the wait times to see your doctor are longer, and it's harder than ever to get anything approved through the bureaucracy. So if you feel like the system is working against you, try a biblically-based alternative to health insurance, Christian Healthcare Ministries. CHM is a health cost-sharing ministry that's helped hundreds of thousands of

families like yours take care of over $11 billion in medical bills since 1981. And CHM has also helped them stay true to their values and avoid miles of red tape. And CHM support goes far beyond meeting financial needs. They'll also help meet spiritual needs. Members become part of a family who will pray with them and for them when they experience a medical event. So listen, y'all, there's no better way to take care of health care costs. CHM programs start as low as $98 a month. So learn more today and join at chministries.org slash budget at chministries.org slash budget. Jade Walsh, all Ramsey personality is my co-host today in the lobby of Ramsey Solutions on the debt-free stage. Chase and Shelby are with us.

Hey, guys, how are you? Great. How are you guys? Better than we deserve. Where do y'all live? Fort Worth, Texas. Fort Worth, Texas. All right.

Good for you. And I understand from our producers that, Shelby, you paid off all your debt before y'all got married uh and so um you know we got shelby up here just to prove that he's the husband he didn't do anything he's just he's just my my showpiece today there he's the eye he's the eye candy right there we go all right there all right good very cool all right shelby how much debt did you pay off before you got married 79 000 good for you and how long did that take? About 34 months. Good for you and your range of income during that time? Started with $60,000 and ended with $95,000. Cool what do you do for a living? I'm a speech language pathologist. Ah very good and what kind of debt was the $79,000? All student loans. Okay

so how old were you when you started this three years ago? It was right after I graduated grad school, so I was 24. 24, okay. And so you're 27 and you finish. And how long were y'all engaged? Just about a year. We got married in June. Okay, so Shelby has got this girl he's going out with, and she's not buying anything ever because she's getting out of debt.

And he's like, what in the world? Pretty much. So how did this conversation go when y'all were dating, seriously? anything ever because she's getting out of debt and he's like what in the world pretty much so how'd this conversation go when y'all were dating seriously well we knew each other a little bit before we started dating so it kind of came up really early but we had known each other um but i do remember i said something about dave ramsey and he just immediately like bad-mouthed you and i was like this may not work but like probably a week later he was talking about Dave Raines who said okay maybe there's hope um but I think I just remember telling him he was like guessing how much loans I had and he just his jaw just kind of dropped and but I said but like I'm

I'm on this plan like I'm gonna get this taken care of like I'm out of debt um so I have to give him a lot of credit too because he was very much prepared to like take on the debt when we got married if i still had some oh there you go okay well that offsets the dave ramsey stuff exactly he made a complete 180 we're good that is amazing seventy nine thousand dollars of student loan debt i can't say that loud enough no well you just say a few words for the folks who have eighty thousand of student loan debt. I can't say that loud enough. No. Well, you just say a few words for the folks who have 80,000 of student loan. What makes you different? Why did you look at this and say, I can do it versus looking for any other way out? I mean, like, I took it out. Like, I needed to pay it back. I mean, it was for my degree. I chose to go to an out-of-state grad school so that was my choice um and so just responsibility for it and i knew i knew i'd be able to just live better after

like i just i wouldn't have that yeah it's it's absolutely worth it man love to hear it yeah yeah that's very good well i mean you could take care of it or you and shelby could take care of it and you're not waiting on joe biden. I mean, this is a good plan. It's a good plan. Yeah. It's really nice, too, like in our marriage. I mean, we're on Babysit 3B, so we're not having to worry about it. That's right.

We don't have to worry about any debt. So it's been great. Saving for a house. Exactly. Yeah. Saving for a house. Okay. So you're in your mid-20s coming out of grad school.

You're tearing through this hard 36 months. What do you tell people 34 months the key to getting out of debt is oh gosh i don't know that i had one key to be honest like i just oh i've got it backwards they told me i got the names wrong oh shelby's the girl chases the guy yeah that's right i got this so screwed up why didn't y'all correct me i dave you're giving chase more reasons not to i know i mean i just kept hearing shelby i wasn't really paying attention you're giving Chase more reasons not to. I mean, I just kept hearing Shelby. I wasn't really paying attention. You're just going with it.

Yeah. I don't know. I mean, budgeting for me was really big. I needed to see it. I needed to pay, like allocate money to my debt first before then I could allocate to other things. And so I think budgeting was the biggest thing for me. Man.

Okay. Yeah. Okay. And you cut out and got the new job immediately with a degree. I mean, yeah, I moved. I did side hustles. I got some career advancements at my job. So that all helped into the increase.

Amazing. Make it sound so easy. I know. I wasn't. I sold my car. Oh. Oh, let's hear more about that oh i cried um the car didn't have any debt but i got a great opportunity um for my company to have a company car and so

i i sold my personal car shelby you get it you just get it no i had to call dave and george to really talk me through it wow what was the car worth 16 000 oh wow so that leapfrogged it it did it did and that's and that too i think is really what put me over the edge to be able to get out of debt before we got married yeah um so but he was prepared i mean we were gonna be debt free in the airport on the honeymoon because he was saving money um while we were engaged but but we didn't have to that's wonderful i love it i love it very well i just love you can hear it in your voice. You can hear that you're free. Oh, yeah.

This was worth it. It's joyful. I mean, anybody listening can hear it. We can see it all over your face. It changes you. Yeah, it's great. I mean, it's great. Yeah, you can tell.

It's been so much. It was a hard journey. There were tears. What was the hardest part? Selling your car or was there another? S's been it was a hard journey um there were tears what was the hardest part selling your car or was there another selling my car was really hard um as I loved my car but I think um just doing the side hustles there were some that were harder than others and I had to say no and spend my Saturdays um doing side hustles and that was hard because I felt like I wasn't getting to do things that my friends were doing in their 20s. But just knowing now like what's ahead and that we don't have to

worry about the debt still that it's worth it. And you ever look back and go oh man if only I had been able to buy that dress or if only I had been able to do that thing. No and I think that's one thing I really learned was like the delayed gratification and thinking about do I really need this do I want this um and so it's just no I don't I don't regret the dresses it worked out I had other things in my closet there we go you're fine yeah so Chase what's it like watching your fiance finish this up yeah it was um the the experience was it was tough to watch because there were you know you see the emotions it's not as she wasn't always like you know just

airy and free like there's a lot of hard challenging times and and i remember the first you know the first month or so we were dating her weekends were doing grocery delivery um getting her income up other ways before the job started taking off and so it was it was a lot to deal with and you know you start realizing if you want to be with if i want to be with her i need to prepare as well so so she helped me grow up a lot too in the time we dated i love that yeah yeah sometimes people just living well in front of you does that that's pretty cool that's a nice compliment well done well said sir well said good work proud of you who was cheering you on other than just chase um my parents uh-huh and then i had a small group of friends who knew what i was doing they didn't know how much that i was working towards um but my friends i had i had a friend who would send me like odd side jobs and

she's like do you need to add to your side hustles so my small group of friends was definitely they were my cheerleaders that. That's very good. I'll bet your parents are proud of you. Yeah. We're proud of you. Well done. Very well done. Great young couple.

Great start. Very cool. Hey, we've got the live and give box for you. That's the Baby Steps Millionaires book. You two are on track to be there for sure. And a total money makeover book to give to one of your friends that's fighting their way through this. Financial Peace University. If you two haven't been through that together as a couple, you ought to.

It's free. And if you don't, then give it to somebody. Any of it's good. It's all there for you to say thank you for coming from Fort Worth to do your debt-free scream here. All right. It's Shelby with Chase and Toe. I love it. $79,000 paid off before the marriage.

Did it in 34 months, making $60,000 to $95,000. Count it down. Let's hear a debt-free scream. Three, two, one. We're debt-free! We're debt-free! Yeah! Good job.

Woo-hoo-hoo-hoo! That's how it's done. yeah wow these dating conversations are interesting to me oh yeah i mean it's like you're doing dave ramsey have you not heard about him yeah oh gross oh i mean that's the kind of stuff that comes yes you can see you see it in the social media feed oh yeah you know so it's it's funny and then but you got to be careful because you might be talking to like a ramsey fan that's true somebody whose life has been changed and then you just ruin the date well yeah yes that's right you got to know who your dating pool is kind of like talking politics i mean it could get you in trouble. You know what? Just

get it out of the way on the first date. You mean you voted wrong? What? I mean, come on. On the first date, tell them who you voted for and say Dave Ramsey and see what happens. Yeah, you can pretty much. That's a great screener system there. And did they pay cash for dinner? This is The Ramsey

Show. Jade Walsh, all Ramsey personality, is my co-host today. Bela is with us in Cincinnati. Hi, Bela, how are you? I'm doing wonderful, Dave. Thank you so much for taking my call. I'm super excited about this, and let's jump right in here.

Okay. I'm a longtime listener and a very short time putting into Actioner. Okay. That being said, I have an idea for a business plan LLC, independent contractor, side hustle, and I'd like to know how to do what I'm going to do. Currently, I'm employed with the state of Ohio, and I work for the Ohio Department of Natural Resources, and I make $43,000 annually.

And what's the side hustle idea? Side hustle idea, okay. So side hustle idea is a management plan. I have a degree in wildlife management, and it's goose management. So I have a dog. He's my best friend. His name is Arlo. He's a border colleague.

Oh, yeah, I know the deal. Yeah. dog he's my best friend his name is arlo he's a border collie oh yeah i know the deal yeah yeah i've got some friends in new york state that have uh they've got six squads of border collies and the local government contracts with them to run the geese so i work for the state government okay yeah i'm very connected and you know i would i would volunteer my time to the state government uh uh, especially like parks and watercraft. I'd have to volunteer my time because of conflict of interest. But I, I'm allowed to do that. Um, as long as, cause it doesn't, it, that doesn't, uh, meet my, that, that, that isn't a part of my job, my, my jobs, job duties with the state. Um, so you're not allowed to volunteer, you know, if it falls within your job duties. Anyway, so I would like to go into business with my dog, Arlo. He's going to be my business partner.

And, you know, very low startup cost. And, you know, I need pet insurance. I need insurance for my business. I need insurance for my truck. You don't need any of that i don't need business insurance no you and the dog are going to go run geese it's not rocket science go run the geese you're not going to wreck the dog and you're not going to wreck your truck you got you got insurance on the truck now right absolutely all right just put the dog in the truck go run geese

it's really it's not it's not any harder than that and collect a check i i would know you don't need to overthink this or you're not doing anything that's going to create any liability that dog's not going to bite somebody that's not a biting dog yeah i mean another dog that dog's a herd dog yeah right right right right yeah so i mean it's a great dog i think the one thing i would be worried about is like him running out into traffic and causing an accident or something you know what i mean um which i don't think will happen but i don't either i mean yeah you're. I mean, if it does all of that, you're a state employee with no assets. Nobody's going to bother you. What if your dog runs out in traffic now and causes an accident,

even if it wasn't in the pursuit of a business? Be the exact same thing. You don't have dog insurance for that. But if it is my business and I don't matter yeah okay unless you're making 20 million dollars a year and then you need insurance and you need an llc but you're not making 20 million dollars a year doing this now you end up with a whole bunch of these dogs doing this you could end up with a legitimate big-time thing so here's what i would do keep it very simple you'll run it as a sole proprietorship go to the bank and open a separate checking account with your current social security number

uh your first your full name dba it's called a dba account doing business as bella's bella's geese patrol or arlo's arlo's i have a i already have a name picked out yeah okay all right then put it in the you know doing business as the name whatever the name is right and then any money you make from geese chasing you put into that account do not put it into your personal account and then any expenses you have associated with that business, which will be very limited expenses, maybe a little gasoline in the truck to go to the job site, right? Miles and wear and tear.

Yeah, if you want to do a little bit of that. I wouldn't get too carried away. But whatever the real cash expenses are, whatever's left in that account then is your profit. When you pull money out of that account because it gets a little bit in there and you want to take it home to pay bills with you set aside a fourth of it to another account for taxes is that another like a savings account yeah just another little savings account and that's just uh baila's tax account it's nicknamed

okay because you got to set aside you got to withhold on yourself because there's nobody withholding on you and you're supposed to file quarterly estimates after you've been open a year okay so i'm an independent contractor and it's like 1099 direct and that's exactly and so you're you're running a business and businesses have to file quarterly estimates whether they're an llc a sub s or a sole proprietor you're running a business, and businesses have to file quarterly estimates, whether they're an LLC, a sub-S, or a sole proprietor. You're a sole proprietor. The only reason to open an LLC is if you start being worried about liability. And the only reason to be worried about liability is if you have a bunch of money, like if your rich uncle leaves you a million dollars, then do an LLC.

Or if your business gets big enough that it's got a target on it, because everybody wants to sue everybody for something. Right? But you've got no target. It's a guy and his dog in a truck chasing birds. It's not a target. How much money do you make on that? You know, there's a similar company that is local to my,

but there is a little bit of competition, but not much. He has a crew in Dayton, a crew in Cincinnati, and a crew in Columbus, and I almost got hired with him to go do the Columbus route, but it was too far for me, didn't make sense, and I turned it down. You just go do a run, what, once day or one twice a week or whatever yeah he said there was a hundred thousand dollars to be made in columbus yeah and then and you know uh a girl that was doing it and they had they drive priuses you know gas efficient priuses and uh you know i've seen them do it they they pull into the parking lot and sometimes they don't even use

the dog they just walk over there. They just walk around the property and chase the geese off of the property line. So on the neighbor's property, off of the property line of the person that they are contracted for. Then they come back and do it every three days or two days, right? Absolutely, and they get paid every time. Yeah, and the geese are back. Now, that's what it is. What a life.

It's just harassing federally endangered species, yes. Or the geese will fly over to my other property that I have a contract with on the other side of the street, and I'll go over there and chase them back. And get another check. Oh, man, man. I'm just kidding. I'm just kidding.

It's about how bad it is, though. You're right. I mean, that's essentially the way it works. Yeah, because the birds are just not smart. You've got to be consistent every other day, you know, and then it's just, you know, it's just. It turns out the only way to get rid of them is illegal. So there you go. I never would have known about this had I not heard this call.

We had a guy, and he was in New York State, come to Entree Leadership about five years ago at one of our events. And I sat and talked to him about this. That's the only reason I knew anything about it. I just got so enamored. I thought, what a great subscription, recurring revenue business model. Go run geese off that come back every three days. Because they're dumb. They just keep coming back. Even if the dog gets a hold of one of them i mean they'll they they're just done

it's it's fun but yeah and and you can't kill them because they're federally endangered so not legally interesting and so um yeah so you're you know you're stuck with arlo running the geese off all right arlo's got a job to do. Arlo, good old Arlo. Making a hundred thousand. Bayla and Arlo. Yeah, there we go. Sounds like a movie. It is. Yeah. Hey man, go make you a bunch of money. If you start making a bunch of money and this gets real formal and you want to drop an LLC on it, fine. I would not go to the expense and file an extra tax return and go through all this extra crap. Just open it in your social and just start a business it's america you can just start and go it's that simple it's really not anything to it it's um the good news

is we don't live in russia you know i think sometimes people want to start they start businesses and they want to do all this stuff first you don't even need to do all that well and here's a here you take a guy like this a guy that's dog chasing geese. If you're unemployed out there. Come on, Dave. Oh, my God. I mean, you just got totally shamed. You did. Yes.

This is a guy with a dog chasing geese, and he's got a business. Okay, come on. And he's going to make some bank. He's going to make bank on it. He's serious. It's real. Good for him. I love it.

What a country. What a country. America. America. All things possible, baby. That's it, man. This is The Ramsey Show. Hey, what's up, guys?

It's Jade. If you love the show and want a deeper dive on your money journey, we have a weekly newsletter that gives you trending and helpful articles and tips on following the Ramsey way. Just go to ramseysolutions.com today to sign up for our newsletter. Again, that's ramseysolutions.com to sign up for our weekly newsletter.