The Ramsey Show - App - He Has $322,000 in Savings but Still Lives With His In-Laws (Hour 2)

Episode Date: September 11, 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. It's where America is hanging out and having a conversation about life and money. I am Ken Coleman, host of the Ken Coleman Show, part of the Ramsey Network, joined in studio by Chris Hogan, host of the Chris Hogan Show, part of the Ramsey Network. And when you're taking your calls, you want to talk about your money, you want to talk about your life, you want to talk about your relationships, you want to talk about your career, you're not where you want to be,

you want to figure out how to figure out what that is or how to get there, well, Chris and I are here for you. The phone number to get in is a free phone number, 888-825-5225. That's 888-825-5225. That's 888-825-5225. Chris, you ready to help some folks? Listen to me, buddy. I am more than ready. I want people to really get serious about calling in.

We need the phone lines to get jacked up, and we need you to call in because I know you've got questions about career. You're thinking about changing jobs or upgrading or doing something for yourself in the midst of all this pandemic, Coleman will be able to guide you and give you the inside tips you need so you can start down that path the right way. And if you've got a money question, I can help you as well. So call us. Let's do this. All right. Let's start it off in Boston, Massachusetts, where Alex joins us. Alex, how can we help?

Hi, Chris and Ken. Thank you for taking my call. Sure. So I'm at the point in my life where I'm just trying to decide on what's the next best decision for me to do, whether it be trying to increase my income or pay off the home early. I'm not really sure where to go from here. All right. Tell us about these two options. When you think about increasing the income, what are you thinking about? So I was thinking about what I would need to do to really better set myself up for success,

you know, preparing myself to whether it be retire early or pay off the house. And I think, you know, increasing my income would be really helpful, but I just wasn't sure if I should focus on that first or focus on paying all my home off first. Well, how much debt do you have? Is it just the house? Yes, it's just the house now. How much do you owe on the home?

$350K. $350K. All right. What is your income? Incomek 85k all right double income or single income single okay and uh what's the payoff date if you just stay with the same pace that you are right now when would you pay the house off it would be in 25 years. Okay. All right. So you're pretty early on into this. What's the house worth? It's worth about $420,000. $420,000. All right. So I keep hearing that your big goal is paying off the house. My question is, what are your professional goals? Have you ever allowed

yourself to wonder what you're doing 20 years from now? What would be the pinnacle of your career? That's actually a really cool question. I haven't really thought that far ahead. Okay, so here's why I'm asking, and that's okay, by the way. I'm not trying to put you on tilt there, but I want you to understand that when you start thinking about growing your income, one of the ways to grow your income is to be working on purpose, to have a real strategy. So I know where the pinnacle is, the pinnacle of that mountain, where I'd like to be professionally. And so inevitably, Alex, there is a pathway, or we could think of it as a ladder, where we climb the rungs of the ladder to get there. And as we're climbing the rungs or ascending up the path, we're making more money. And you don't have to have that answered right now, but that's the best way to increase income

is to have tremendous focus. Yeah, I agree. And Alex, here's the deal. As you bought this, you obviously got this on a 30-year fixed rate mortgage, right? Yes. Okay. And so looking at this now, 30-year fixed-rate mortgage, right? Yes. Okay. And so looking at this now, I need to ask this because people get amnesia, Alex, so bear with me. Do you owe on anything else outside of this home? No, I don't. I paid off all my credit cards.

Great job. How old are you, by the way? 28. Okay. I like the mindset. Here's what I would do. I would definitely reach out to your lender, because how long ago did you buy this home? So, I bought it a year ago, but I recently refinanced.

Okay. You refinanced from a 30 to another 30? To a 25. Okay. All right. And a 30 to another 30? To a 25. Okay. All right. And what is your rate on that? Do you remember? The rate right now is 3.25. Okay. All right. So you just refined. Okay. Did you put a down payment on this home when you bought it? Yes. Okay. So here's the mindset of what I do in looking at this. You've obviously refinanced, uh, you're paying on this thing. I think the big thing for

you financially speaking would be to have the mindset of, Hey, when am I going to attack this debt or, or pay it off? Or are you going to sell? Are you going to stay in Boston a while? Do you see yourself there for the next five to ten years? I do. Okay, that's a good thing. And so you've got, you know, you want to pay on the home, you want to be intentional, you've got to avoid the stupid. Okay, and by that I'm talking about a car payment or going back into credit card debt. You said you paid those things off.

I like that mindset. On the career side, Coleman, I think it's a matter of trying to dream out loud of what it is they want to do, he wants to do, and start down the path. Yeah, Alex, what I want to do is I want to give you a basic exercise. It's stage one of the seven stages to meaningful work. And I want you to do this exercise. Go to KenColeman.com and download the free career clarity guide. Very simple little worksheet that's going to walk you through identifying what you do best.

That's your talent. That's what you do best. That's your talent. That's what you do best. These are hard skills and soft skills. Of all the things you do well, it's at the top of the list. Then I want you to identify the type of work that you really love. It's the function, the task itself. I enjoy this work. I look forward to it. When I'm in the middle of it, I really enjoy it. That's high emotion. Then I spend a lot of time doing it. Time seems to disappear on me. And so that's high emotion. And then I spend a lot of time doing it. Time seems to disappear on me. That's devotion, high emotion, devotion. The final indicator in that career clarity guide and what you've got to go through is mission. And that's how I define

the results of your work that matter deeply to you. So the formula is I use what I do best to do the work I love to produce results that matter to me. That's the sweet spot, and that's where you work like no one else. You've heard Dave Ramsey say, live like no one else. Well, we're teaching people on the Ken Coleman Show, Chris, to work like no one else because here's what happens. When you work like no one else, you have an unbridled enthusiasm, a juice I like to call it, that even in the bad days, you're excited to get back up. And you're not miserable on Monday mornings. You've got momentum on Monday mornings.

And here's what will happen. Alex, when you can identify that sweet spot where talent, passion, and mission intersect, then you look to the marketplace and you go, okay, where are all the places that I can do this work, this contribution? It's your contribution area. And so here's what's going to happen. You will see tremendous momentum in your growth and in your responsibility and your influence. And guess what follows all of that? Income.

Income grows as our influence or responsibility grows. And if you have a very clear path to your contribution over the next 25 years, that money's going to follow and you'll be on purpose in your life and in your work. And that's what I want you to do. So go to KenColeman.com, download the free career clarity guide, take it. And oh, by the way, if you need some help, call the Ken Coleman show, Monday through Friday. I'm on the Ramsey network. Check us out and we'll help you tie all that together. All right, Chris Hogan, Ken Coleman, here on the Dave Ramsey Show. More coming right up. Don't move.

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and I'm joined in studio by Chris Hogan, Ramsey Personality, and host of the Chris Hogan Show on the Ramsey Network. And we are taking your calls, 888-825-5225. Are you stuck in a job you can't stand? Are you clear about what it is you really love to do and work, or are you not clear? If you're clear but you don't know how to get there, give us a call. It's what I do every day on the Ken Coleman Show. And, of course, if you work in the baby steps or you've never even heard of the baby steps

and you're just trying to get out of debt and you've found the Dave Ramsey Show and you've been listening and today is the day that you feel like you need to make a call well Chris Hogan and I are here for you triple eight triple eight eight two five five two two five triple eight eight two five five two two five let's go to Houston Texas David is there David how can we help hi Chris and Kim thanks for taking my call sure what's up so my wife and I we want a house, say, within the next five years or so. We have a bit of money saved. How should we go about budgeting for how much of a home we can actually afford? And let's say we have leftover money for now.

What should we be doing with it? Good. Or is it just sitting in the bank account? No, no. This is a very good question, David. So what's the time frame that you want to buy a home in about five years? Yes. Okay.

What's your all's household income? Between my wife and I, 160 gross. Okay. And what debt do you have right now? We actually have zero debt. We stay at home. Okay. Very good. So, what do you mean? You have zero debt. We stay at home. Okay, very good. So you, what do you mean? You have zero debt. You do what at home? Oh, we stay at home. We stay with

our parents. Oh, okay. So you're living with her parents to be able to save money to be able to buy a house? Yes. Oh, Hey David, it's just me and you. How's that going? No, shoot me straight, buddy. Tell me. How's it going? It's going okay. I don't believe that for a second. No, brother.

Nope, nope. Come on. You got to get real. This is Ken and I. How's it going? I mean, sometimes it gets really stressful. Every time we check our net worth every month, we see that balance go up, it kind of all works out. Well, now, but hold on a minute.

How long have y'all been living there? A year. Okay. Yeah, we've been there for two years. Okay. So what is the plan, David? Don't tell me you're going to be there five years. So we just had a child, and my child is 10 months old at the moment. Okay.

So I don't think now is a convenient time for us to be moving around just because of COVID. Well, hold on. Why? Is the baby going to be upset with you moving them? The baby has no idea what's going on. The baby needs food, diapers, and some sleep. Burps. Don't forget about the burps

yeah definitely definitely okay can i dig for a second on the relationship thing please all right yeah so we know what your real answer is so does america by the way because when chris asked you you started laughing and so we know what your real answer is it's not okay it's probably not been okay for months and months and months. It may not have ever been okay, but you did it anyway. So this is the real tough question. If we were talking to your wife right now and asked her how is it going, what would she say?

I think she would say the same thing I'm saying because we kind of both have the same financial goals, and I think, you know, sure, she will respond the same way. It's time to leave and cleave. Yeah, I want to know, hey, David, are you all contributing financially to any of the monetary stuff at your in-laws' house? Yes, yes, we are. How much?

What dollar amount are you all committing? We're just committing for the phone bill and the electric bill. Okay, so minimal. If you told the in-laws today that you guys were leaving, how would they react? I think they'd say as long as you guys are financially ready, then I don't think they'll have a big deal with it. Okay, you don't have any debt, so how much have you all saved in this year toward a home? Well, our total savings is $322,000,

but just this year, about $90,000. Hold on a minute. How much do you have in savings? $322,000. $22,000. $322,000. David, listen to me. Okay.

Yes, sir. All right, listen to me. OK. Yes, sir. All right. Listen to me before you call the moving truck. All right. You all are about to listen. If you are not on the plan, you guys, if you're saving toward a house, that's great. If you all look at this and you say, you know what, we want to have X, Y or Z, you know, are you trying to do 100%? Are you trying to pay the house in cash? Yes. We thought that we're kind of allergic to debt really. What's the price point? What was the price point that you're

aiming for? I'm thinking around $250 to $300 and that's kind of why we're kind of not really ready. David, stop. David, if you said it was $250 to $300,300,000, you've got $322,000 in there. I'm not good at math, Chris, but I will say I think I've got this one figured out. What are you doing, man?

Go buy a $250,000 house this weekend for cash. Get your peace of mind back. Get your sanity back. What are you afraid of? Hold on. There's something here. It is. what are you afraid of hold on there's something here it is what are you afraid of his wife won't let him i don't know we just want to be you know like the everyday millionaire like no no i understand no you're not answering my question you You just told us the math. Your goal was $250,000 to $300,000 house cash. You've got $322,000 in there. If you do a $250,000 house, you've got $72,000 left over.

You're already on your way to being an everyday millionaire. You have no debt. You guys are saving. You're doing all the things. You guys are incredibly disciplined. You're miserable right now. When does the misery stop and we just start living life? I'm telling you you're afraid of something.

What are you afraid of? I want you to name it because there's something that's keeping you in this miserable situation when you've already got the money you need to do what you want to do. Honestly, I don't really know um it's just i feel like we just i feel like what this let's say we have 72 000 left over i'm not sure if that's like is that enough to be considered safe yeah it is hold on hold on let me put it through the processor yep Yep, it is. And I know. Is it that the in-laws are helping a lot with the newborn, the baby? He's not a newborn.

He's 10 months old. Virtually about to talk and walk. So are they helping a lot? Not really. We're just kind of. All right. So here's what I do. You and your wife need to have a sit down and talk.

And you either, as Coleman suggested, go get a $250,000 house for cash or give your in-laws notice that, hey, we're going to be moving out in 30 days. We're going to go find an apartment to lease for six months as we settle in and find a home that we're going to buy. I think it's time. You need your own space. You need to breathe. But you guys need to start working your budget up to look like living on your own.

See, you've been doing everything into savings because you're only paying the electric bill and the phone bill. You've got to start processing. If we go rent, then we're going to pay rent. If we're trying to save up to get to pay $300,000 in cash for a house and keep our emergency fund, I get it, if you want to save another six months. But do it where you're renting somewhere and you have your own freedom. Yeah. Yeah.

I mean, here's the deal. He's worried that it's not enough. Yeah. That 72 isn't enough. And it is enough if he just looks at his budget and goes, all right, what's a six month emergency fund? Yeah. And we don't have any debt.

I think right now with the pandemic and a lot of things going on that is getting in his own head. And I think he and his wife getting together and talking about this. You got to talk. You got to move forward, buddy. And again, give your in-laws notice. Obviously, you don't need to let them know anything other than, hey, it's time for us as adults to be a family.

And we're going to, you know, it's real. So, David, you got to look at the numbers because let's adjust the goal then. If you're nervous that 72 isn't enough, I don't want to make light of that, but it's enough. But if it's not enough for you, guess what you do? You buy a $200,000 house. Oh, by the way, that's cash. It's just you and mama and the baby. You can find a $200,000 house.

It's nice. It's got plenty of room. And guess what? Now you've got an additional $50,000. So the $72 the 72 goes to 122 000 so you're way ahead of everybody else if you buy your first house cash yeah you really can buddy and i appreciate you calling in and trusting us but it's time you get your joy back you get your own space leave and cleave that's your theme this is is The Dave Ramsey Show continues on as we help you get clarity on the path forward

to financial peace, to working on purpose. I'm Ken Coleman, joined by Chris Hogan, as we take you through this hour. 888-825-5225. 888-825-5225. Okay, so it's now time for the Blinds.com question of the day. And you can find out for yourself why Blinds.com is the number one online retailer of custom window covering. You can get free samples, my friends, free shipping. And with new promos that they run every month, you're going to save even more.

Just use the promo code Ramsey to get the best deal. Rules and restrictions apply. Today's question comes from Cheryl in North Florida. She went to DaveRamsey.com to ask. She asks, I am currently making $45,000 at a job that I don't love, living in North Florida. She went to DaveRamsey.com to ask. She asked, I am currently making $45,000 at a job that I don't love, living in South Florida. I moved here from Texas to be able to frequently scuba dive and advance in diving either personally or professionally. I'm currently on baby step four, and I have the opportunity to start working full-time at a dive shop. But the pay would be a 36% decrease.

Considering that the income is the most powerful wealth-building tool, I'm torn with this decision. Should I follow my passion or stick with a higher-paying job that would provide me more financial security but little to no meaning? Such strong language in here. Yeah, well, it's absolutely real, and there's layers to this. So the reality is is that right now the full-time offer to work at the dive shop, she needs to say pass on that because of the substantial pay cut because I don't think she's where she needs to be.

Okay. Financially to where I'm okay with a pay cut. And it's pretty obvious now. Again, if she's on the phone, I'm going to walk her through a few more questions to kind of figure out, okay, what is your total big picture on finances? But she's on Baby Step 4, so she's now investing that 15% towards retirement. And I think she would need to sacrifice tremendously in her expenses to be able to absorb this. So I would say to her, right now I'd pass because I don't think you're where you want to be.

And where you want to be is financially you get to a place where you've reached some goals on your investing and then you're sacrificing on some expenses to be able to then absorb that pay cut. Because the reality is she moved to this area because she wanted to frequently scuba dive and advance in diving either personally or professionally. Right. So because she gave us that caveat, I'm going, right now, I like that you're getting an offer. Take that as a part-time job. Go to them and say, I can't do this full-time right now because it's detrimental to me financially.

However, I'd love to do it part-time because it accomplishes two things. That's right. She gets to start doing more diving, getting involved in the professional diving industry, which she wants to do, and she's making more money because it's a part-time job in addition to the day job. And so she stacks the money up until she gets to a point where again either she sacrifices enough on her expense side of the balance living expenses all the things or she saved up enough over here that she's good that then she can go and take a pay cut i was going

to say because she's talking about a 36 percent decrease so she's going from 45 to maybe 32 30 000 that's a massive drop in South Florida. And not necessary. It's not necessary right now. You hit the nail on the head. That part-time, dude, that's great advice. Now what you're doing is earning the way to be able to do it more. Oh, Cheryl, you got an answer, young lady.

Reach out to them. Let's get in there part-time and keep diving. Coleman will come dive with you. I stay on land. This body is built for land. I've got to tell you, I like the water, but I like to be above the water. You know what I mean? The only time I'm under the water is when I'm cannonballing to make the kids laugh.

Then I'm popping right back up. That's quick. Yeah, get up. Down and up. You know what she needs? She needs Ramsey Plus. This show is all about you all calling in, listening in to get your specific financial questions answered. And it's usually about money.

But I want to ask you something. What if you never, ever, ever had to wonder about money or ask a question about what to do with your money? Well, this is possible. You can be in control and make progress in your finances. The way you do it is with the right plan, and that is Ramsey Plus. It's one membership that's going to coach you step-by-step through our best products so you always know you're doing the right thing with your money. Now, our three big hitters here that's going to help you in this journey

is Financial Peace University, the premium version of EveryDollar, our budgeting app, and our new Baby Steps tracking app. Plus, you get a ton of different courses, tools, and access to our financial coaches. With Ramsey Plus, you can know you're doing the right thing. Start the free trial today. That's a free trial. Start today at DaveRamsey.com slash FPU. That's DaveRamsey.com slash FPU. 888-825-5225 is the number to jump in. Let's go to Woodstock, Georgia. Chris is there. Chris, how can we help? Hi.

Thanks for taking my call, Chris and Ken. Sure. I'm just kind of scared because I am 59 years old. I am on baby step two, started in January, and I don't like the fact that I'm not contributing to my 401k, which right now only has about $125,000 in it. Okay. And I'm wondering if I can kind of change up the steps to help me, because it's going to take me another year and a half to pay off. I think I still have about $23,000 left in debt.

Okay. Of that 23, what kind of debt do you have, Chris? Well, they're pretty stupid. Uh-oh. Come on, confess. Let it out. I'm confessing. All right.

What is it? It's consolidation loans that I did just prior to watching Dave Ramsey with credit cards and stuff. And the other two are personal family loans who helped me with the down payment on my house. Okay. All right. What's your household income? About $42,000. Okay.

And is that working full-time? That's working full-time. Okay. You hit the nail on the head. You said you're scared. What are you scared of? I'm scared of not being able to retire before I'm dead. That's right.

Now, in looking at that, now, I love that you know what your fear is, but I need you to know something. There is one thing I know of that's stronger than fear and that's hope. Now, what you have to do is stare into that realistic mirror and you say, I've got 23,000 of stupid. I know it's standing in the way and I don't want you to cheat the system. Okay. I don't, I don't want you to get half the recipe. I want you to get the full recipe. So that means walk it. And so if you want to go faster, Chris, what you do is look for ways to bring in extra income. So you attack the debt faster. Okay. But don't rethink it. When you have 6 million people go through and they start to get things built the right way, it tells you that it works. And so what I want you to do is to take

that fear and concern you have, and let's turn it into action. Because what will happen is, is you'll start to feel that you're making progress. And every time that negative thought pops in your head, I want you to say, I've got dreams. I've got goals. I've got dreams. I've got goals. I don't have time for fear. I've got time for hope. And you don't waste any more time on this at all. And you drive forward. So work the plan, stay focused. Let's brainstorm ways to bring in extra income so you can go forward faster. And she does have time, and this is why you created the retire-inspired quotient, that RIQ. Yes. You know, this idea of in her situation with what you

told her, anybody else that's listening there, Chris, what do they have to do tactically to say, all right, besides getting out of the debt, once she gets out of the debt, then it's like, okay, what do I have to do now to increase my contribution to then catch up? I think the most important thing, Ken, for people to do is identify what your dream is. She knows what she's scared of. I want to know what she's excited about. The excitement's going to get you out of the bed. It's going to get you to give up the sleep to take on the extra job so you can earn more to pay off debt to start the bed. It's going to get you to give up the sleep to take on the extra job so you can earn more to pay off debt to start to invest. So go over to my website, ChrisHogan360.com.

The RIQ is there. It's going to walk you through the dream part of it. If you're married or newly single, whatever, you can walk through your dream. Find out your spouse's dream so you guys can get unified. This unification is huge. I'm going to tell you, when you're trying to row in one direction and the other one's your spouse's dream so you guys can get unified. This unification is huge. I'm going to tell you, when you're trying to row in one direction and the other one's rowing in another one, I'm going to tell you, you offset each other.

It's frustrating and irritating. Get aligned, get a plan, and get moving. And that R.I.Q. is beautiful. You plug in that number, and then it starts telling you what you specifically have to do. That's exactly it. How much you need and what you need to be investing now. Free tool, ChrisHogan360.com. It's a great, great tool. And here's the deal. To your point, that RIQ gives

you a number that's absolutely clear and there's nothing to be scared of or wondering about anymore. It's this is the thing I've got to do. And focus, by the way. Yeah. That's a powerful, powerful thing. That's why Chris Hogan always says, I'm focused, not finished. And that's true of you, Chris. That's why he says it. right coming up more of your calls more breakthrough more hope this is the dave ramsey show where you come to get hope hope in your life hope in your money hope in your career hope in your relationships i'm ken coleman joined by chris hogan we are ramsey personalities we both host very creatively named shows the chris hogan show and the Ken Coleman Show, part of the Ramsey Network.

We've spent hours and hours and hours. Doing intense marketing research. Yeah. But here's the deal, Coleman. I need to talk about something real quick. What are you going to talk about? I think when you are working a job or you're working something that you just can't stand anymore, this is something where the weekend becomes too short,

and you wake up on Sunday morning, and you start to get that pit in your stomach because you know you're going to have to go back and do that thing on Monday. What I want to do is offer you an opportunity to make an adjustment. Ken's show, The Ken Coleman Show, is available every weekday on SiriusXM, your local radio, or wherever you listen to podcasts. He also does A Work That Matters, a five-minute daily podcast about what's going on in the job market. The Ken Coleman Show is available every weekday on Sirius XM, your local radio, or wherever you listen to podcasts. He also does a Work That Matters, a five-minute daily podcast about what's going on in the job market,

how it affects you and your career journey. And it's available wherever you listen to podcasts. I want you to start to get connected so you can get a game plan. I want you to know you are not stuck. You've just stopped. And it's time to start up again. It's time to move you in the right direction. So hunt him down at Ken Coleman Show on Facebook, at Ken Coleman on Instagram and Twitter, and check out the show. Ken, I've listened to it. I've heard you really dissect and help people

really get out of their own way. And I think that's a fantastic thing to do. Well, thank you, sir. And while we're at it, you know the chris hogan show is just a wonderful wonderful place to get that pep talk and get answers to your questions and get the pep talk chrishogan360.com to connect with him on social media and uh also to engage in his show you need to subscribe to his youtube show uh it's fantastic just go on blockbuster over there so we're here combining forces because we both share a mission yep and that is to equip you, to encourage you to be everything that you were created to be, and we do that through money advice and career advice. So we're going to start it off, this segment, with Brian in Mesa, Arizona. Brian, how can we help?

Hey, how's it going, guys? Thanks for taking the call. Sure. And so, yeah, just to lead off of that little segment there about work. So I have a job opportunity with the same company to move out to Dallas, Texas. You know, being in Arizona, rent is cheaper here, but owning a house is more. Rent is a little more expensive, I've come to find, than Dallas, but owning a house is more. Rent is a little more expensive I've come to find in Dallas, but owning a house is cheaper. So, you know, it is going to come with a pay raise. So about, you know, $8,000

raise right off the bat. And then within the next year, probably another eight to 10, and then we get bonuses. So I guess the nervous part about it all is, is, you know, I'm just starting in the baby steps. Um, and I guess, you know, kind of, you know, with the move costs and, you know, just all that that's going to entail, it's going to cost me a couple thousand bucks. So it's obviously going to set me back behind a little bit. Um, so just kind of, you know, just needing a little bit of advice maybe or

what's your take on it? Well, let me ask you this. I love that you're on the baby steps. I love that you're new to it. We're going to help you out on that and encourage you there and equip you. But let's just put that aside for a moment. If you weren't trying to get out of debt and looking at a $2,000 plus moving expense, would this be a no-brainer for you? Probably, yeah, because I guess the way I see it is it's an advancement in the career. So I would be in, basically I'm going to become a software tech. So I think it can take me far in the career that I am now

or potentially, you know, elsewhere in another position. But I really, really, I really love the company that I'm with as well. Brian, Brian, this is great news, man. I got great news for you. Yeah, buddy. Okay. Let's not just talk about the long-term and I love that you have a long-term view here, but guess what wrote down eight thousand dollar pay raise year one eight to ten thousand dollar additional raise so now we're at let's call it 16 for sure with bonus year two with bonus i don't even know what that number is and you're saying you're worried about this because you got to come up with two grand to move my man i'd sell a bunch of stuff i i think ch is okay with you pausing the budget, and let's make this move because this is going to help you get out of debt faster. So this is an absolutely figure-out-in-your-budget,

and I'll let Chris take over here, on how you come up with two grand to actually move. And I have one question. Did you ask your current company, since you're already there, would they offer you a moving bonus? Have you asked them that? i actually did and that's one thing that um they don't offer any kind of all right well that's fine that should not hold you up no it shouldn't hold you up so you told me you're on baby step two so what debt do you have uh well no i'm on i just started the baby steps, so I'm getting the $1,000 emergency fund.

So what debts do you have that you owe right now? I have about $10,000 in consumer debt, and then I have $20,000 in student loans. Okay, all right. And your household income right now is what? So I'm at about $42,000. Okay. All right. And, okay, so what you're going to do is as you look at your budget,

you're going to start to strip down and look at this and say, okay, what are the bare minimums I have to do? You're going to look around in the house, Brian, and figure out some stuff to sell. You're in Arizona. I know you own two sets of golf clubs. Okay, I just do. It's almost like a requirement, right?

But you're going to look to stuff to sell. I want you to look. I also would like you to follow up with your company about the move expense and assist. Now, I know they may not normally do this. You're not normal. So you're going to, all you can do is ask. They can say yes, no, maybe,

but follow up on that. But you're starting to look now and going, okay, I've got to get this moving expense saved up. This is going to open the door for me to increase my income a lot and give you a lot of opportunity. But I want you to take one thing off the table, and I'm going to turn it back over to Ken. Brian, I want you to take

debt off the table, meaning it's not even a word or an option in your language anymore, okay? Okay. Yeah, and I want you to pep up a little bit, okay? I know nerves, change brings, no one likes change, but everyone loves improvement, and you're about to improve your situation, my friend, so it'll be new. You'll get plugged in. You're going to find some new friends and meet new people. But you're moving forward in your career, and I'm proud of you. Brian, is it just you and your wife, or you have kids?

Well, it's a girlfriend, actually. Yeah, my girlfriend. And she's going with you? Yeah. Oh, okay. Is she going? Yeah. All right. So let me help you out where'd you come up with the real quick how'd you come up with two thousand dollars to move did you run a moving company quote couple quotes um yeah so i have two two options so i i've moved i'm originally from

ohio and i moved to florida once so i so I kind of knew some costs that were going to be a rough estimate. But, yeah, I reached out to the moving, you know, the cubes to move all my stuff. Brian, I'm trying to save you some money. I'm trying to save you some money. Save some money. Call Mattel. It's just you and the girlfriend. There's no kids involved, so you've got friends there in Arizona, right?

Yeah, and I actually have my cousin. How about a big old U-Haul or Ryder truck or whatever and just pack everything in? So we're not paying movers. We're going to get everybody to come over. After we've sold everything Chris says we need to sell, we're going to pay for the truck and the friends and we're going to get

pizza and sodas and they're going to stack that truck and you and the girlfriend... I've got the perfect solution, Brian. You're going to drive. You're going to invite people over for a party. You're going to take the car keys and the cell phones. Okay, get the keys, the cell phones, and just send the girlfriend on to Dallas. And if they want to get them back, they've got to help you move. By the way, it's a good chance that you won't be as close with these friends after you ask them to help them move, but you're moving anyway.

No, hey, asking some buddies to help, that's a great idea. There's no way it's too grand for him to get a truck. No. And him do it himself. How far away is it from Mesa to Dallas? Doesn't matter. He's getting serious about getting out of debt. No, that's true, but I was just trying to find it.

It's four or five hours, I think. It can't be that far. Yeah, I am prescribing a little bit of suffering here because it's worth it to not spend two grand. He doesn't need moving company. No, not a moving company. Stack everything in the Ryder truck or whatever you want to rent. He's a single dude.

He's got a futon and ramen noodles. Yeah, honestly. He's got the, yeah. Throw it in the truck. Yeah, it's the girlfriend. You guys don't even have a ring on it, man. She doesn't get a say in any of this. You do what you need to do.

Wow. She doesn't. That's rude. So he doesn't need new furniture, anything. Just scale down, get in the truck, and drive to Dallas. Hey, make that move, buddy. I'm excited for your career trajectory. Come on't need new furniture, anything. Just scale down, get in the truck, and drive to Dallas. Hey, make that move, buddy. I'm excited for your career trajectory.

Come on now, $2,000. I need to get in the moving business, man. I'm telling you right now. Hey, I want to thank Chris Hogan for hanging out with me. I want to thank James – excuse me, Zach Bennett today, our producer. I want to thank Kelly Daniel, our associate producer. But mostly, I want to thank you, America. Thanks for listening.

This is The Dave Ramsey Show. Hey, it's Kelly, associate producer and phone screener for The Dave Ramsey Show. This episode is over, but if you heard about an event, product, or service and didn't have a chance to write it down, don't worry. We list everything you've heard about during this episode in the podcast show notes or head to DaveRamsey.com.