The Ramsey Show - App - Help, I’m 700k in Debt! (Hour 1)

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 washall ramsey personality is my co-host today as we answer your questions about your life and your money it's a free call and some say the advice is worth exactly what you pay for it the phone number is 888-825-5225 that's 888-825-5225 t Tiffany in Gainesville, Florida, starts this hour. Hi, Tiffany.

How are you? Hi, Dave. How are you guys? Better than we deserve. What's up? So my question is, I have been on the Dave Ramsey plan for about 22 months. I'm coming up on two years. I've paid off about $150,000 in debt.

Wow. Good job. But I still have a little bit of ways to go. So my question is in this day and time, should I sell my home? So I have about $190,000 in equity, maybe $210,000 depending on how it would sell. And I have about $223,000 of consumer debt. That includes medical bills, a $43,000 car, credit cards, and then some divorce penalties I had. So my question is, would that propel me, would that be a better idea? Unfortunately, increasing my income anymore isn't an option right now.

What do you make? I make about $139,000. Good for you. I bring home about $139 about 139 how long were you married since i was 16 so 20 too long 24 and a half years and then you've been divorced how long um five years six months so yeah okay i'm sorry you went through that uh it sounds like you're really scratching and clawing your way back i'm proud of you it's a process it's taken a lot there's no i've listened to jade's budget um training last week but there's no more areas in the budget

i've sold everything i can sell so my options are to keep you know scratching forward or to sell my house and kind of get rid of the consumer debt. The unfortunate part is. Did you have the house before the divorce? I didn't. I bought it midway through my divorce. Grown, just one. Okay, good.

Okay. So do you like the house? I love the house. It's perfect. It would be a good place to even retire. It's just, I have had to stop paying on three consumer debts. Once they came, I put, you should never do this. I'm sure you're going to cringe as I was, went through a very significant illness. And during chemo, I was still very ill and I kept getting calls. You got to pay this, you got to pay this. I put it on my credit cards. So I have some credit card debt, but once it came out of the

interest-free period, which is about three months ago, I wasn't able to make the minimum payments. So I still paid my regular payment, but obviously it's already negatively impacted me. So I'm scratching at other alternatives to kind of get back ahead. So those are the, you said it was three credit cards. That's the only outstanding payments, right? No, she's current now. Yes. Okay. But you're just struggling to make the minimums. Extra. Yeah. Okay. So how were you able to pay off 130 and now you got no margin. So, um, so I cashed out my 401k. Um, yes, I cashed out my 401k because I had to make a cash settlement, um, 290,000, but I had to make a cash settlement for my divorce so that I didn't have to pay alimony. So that's where that came from.

And had I known that I was about to come out of remission and need chemo treatment and two more surgeries, I obviously would have never done that. But unfortunately, you get the cards you're dealt, you know, so you just do better with it. How much is your house payment? $2, with it. How much is your house payment? 2407. How much is your car payment? 712.

How much do you still owe on that car? Like if you sold it today, what would you get for it? Well, the unfortunate part is I would only get about $12,000. That's based on Kelley Blue Book because of the mileage on the vehicle. How did you turn a $40,000 debt into about $12,000. That's based on Kelly Blue Book because of the mileage on the vehicle. How did you turn a $40,000 debt into a $12,000 car? Yeah. Yes. So, unfortunately, mileage.

So, mileage is everything I travel for work. No, mileage doesn't do that. You must have had negative equity going in or you got bad information somewhere. Did you roll? No, I took no negative equity. You can't put enough miles on a car to do that i have 158 000 that's not enough to do that that's what kelly blue book told me and you owe 45 oh 43 something somebody's numbers are wrong somewhere did you have negative

equity another car you rolled into this one no No, I didn't have another car. Interesting. I would double check. Something's wrong. Just humor me and double check that when you get a chance, because that doesn't feel right. It is a lot of miles, but it doesn't seem like that many miles. Wait a minute, wait a minute.

What's your interest rate? 6.6. So that's an actual payoff number not a top total of payments oh that's likely correct that is my current balance that reports to my credit karma uh credit karma doesn't count okay they got bad karma so um no you need to actually call the bank and find out what your actual payoff is because they may be reporting. There's two ways to calculate a subprime loan. This doesn't sound like a subprime loan. They calculate it as an actual payoff balance or a TOP, total of all payments remaining, which would be much higher.

If that's the number, then the actual payoff number is going to be like 30, And then your 12 is wrong still. So you're a lot closer than we thought. That's what I'm thinking is going on because these numbers don't work. There's no way you get there with this number. So anyway, what's the least amount that you can live on? Because I'm looking at your debt and I'm looking at what you earn and I'm like, maybe she can be free you know uh four years I'm looking at and there is something to be said for um cutting your budget as much as you can cut it getting your income as high up as you can get it and then whatever that margin is you just have to ride that horse to the finish line like there is something to be said for that I don't know that you're there um here's here's what's going through my head okay cancer and a divorce quick fix with the 401k now quick fix with the house and you still never address the person in

your mirror because you've had so much tragedy in so many things you're so you're so much pain that i want you to make sure if you sell this house that you don't that you do address the budget and that you quit finding ways to find yourself into this because you use the word unfortunately like four times to outline stupid things you had done those were not unfortunate they were bad choices you're not stupid but you've been in a lot of different kinds of pain in the last five years. And I'm sorry, I know you're hurting. So I just don't want to add to your pain. So I usually, we usually tell people don't sell the house.

If you do to get out of this, and I really wouldn't blame you here to be out of it and to be free and start a whole healing campaign in every area of your life. Make sure you heal in the financial area and you live on less than you make from this point forward. And no more, unfortunately. No more. Now you're going to get control of these controllables. You've got to. You don't have a choice now. I'm so sorry for what you've been through, hon.

This is The Ramsey Show. Thank you for joining us, America. We're glad you're here. If you like what you're hearing, help us out. We can use the help. Click the subscribe button, the follow button, share the show any way you can, whether you just tell people about it or whether some of the platforms have a share function, use it.

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Hi, Allie. Welcome to the Ramsey Show. Hi, how are you? Better than I deserve. What's up? Yeah, I'm just calling. I am a physical therapist here in St. Louis. I've been out of school for about a year now, but I've been in a residency program, so I've been able to defer my loans.

And last night, I really sat down and figured out that I need to start tackling these things. So I've got about $112,000 in my name from undergrad and also from graduate PT school. And then my parents also have about $100,000 in their name that they took out to help me get through undergrad. So I'm just kind of curious the best way to tackle these and get out of debt as quickly as possible. Is this your only debt or do you have other types of debt to go along with it? This is the only debt I have. Okay. Well, what I would do if I were in your shoes is, A, I'm glad that you're looking at this and going, hey, I got to pay this off. I can't wait around for somebody else to do it for me. So that's good. A lot of times these loans, they're broken into lots of smaller loans. Are yours, are they like that? Yes. Mine are,

yeah, I've got all together, there are about 20 just small loans. Okay. So assuming that the Parent PLUS loans were, like it was decided that you're the one paying them back, I'm assuming that's the case, right? Even though they took the loan out? Well, we haven't really had that conversation yet. So that's something that I need to do with my parents.

So yeah, the $112,000 are all in my name and then the $100,000 of Parent PLUS loans are all in here. What makes you think you're liable for the Parent PLUS loans? You didn't have a discussion when you took them out. They said, we'll take these out, but you've got to pay them. That wasn't a conversation early. The conversation that we've had is, we'll help you with this, but we haven't had a fully sit-down conversation

to decide what exactly does that mean so that is very that is like top right so your parents are not wealthy not necessarily middle class they do they do okay because i wasn't putting them down i'm just if they got 10 million dollars in the bank they wouldn't have done this well some people also think that me helping you is i'll co-sign since you can't sign on your own. So they might have just thought by co-signing that was it, but there's a lot of money on the table here. So I would have that conversation and find out.

Allie, did you finish residency yet? Yes, I finished up now. What do you make now? $80? So, let's see, this past year during my residency. Now, what will you make this year 80 this coming year this year i'll make 71 71 okay plus you can pick up some ot uh if not with that firm with uh whatever uh emergency room or whatever right yeah so we can we can use this degree to earn

another 20 and you work your tail end off, right? Yeah, I would say so. Oh, I know. So I've done a bunch with PTs, yeah. Well, that's good. I would just list these debts smallest to largest. I would, you know, you got to have this conversation with your parents. At the same time, your name is on, is your name on it at all?

No, not on Parent PLUS Loans. Okay. So I would start with the 112 yes and i would list those from smallest to largest i'd just go crazy go ham on those and then this parent plus thing here's the thing their name is on it your name is not on it so you need to speak with them it's not gonna blow up your credit if this is kind of an ongoing you know conversation it's not gonna stop you from doing what you need to do um but that's going to be tough dave because they might have interpreted two different sides of this thing whatever comes out i mean if you guys if you decide

you're going to pay it then you got two hundred twelve thousand dollars and you make 90 with overtime and extra jobs and you're single and you live on nothing like a graduate student and so we throw 50 a year at it in four years you're done yeah or in two or in two years you're done if mom and dad pick up the parent plus but you're probably picking up at least some of it it sounds like in this conversation i i would guess so you don't have a legal obligation i don't really feel yeah both of you should have your tail kicked for not having a clear understanding before you take out a hundred thousand dollars worth of loans and don't know how they're going to get paid but now that that's done you now you got to get good drive to clarity and decide what you're going to do or what you should

do technically legally you owe nothing i'd at least try to go 50 50 though i feel like i have no idea what these people decide they were going to do and so i'm not letting her or them off the hook so um yeah y'all got to get in there figure that part out and i just but but either way jade's right your 112 is first you do not pay on the parent plus loans um they at least get to pay the payments until you clear the 112 that's their part of the problem anyway yeah i would agree and then after that if you decide you want to take it on we'll do that or something i don't know i'm just you're gonna have to make this up as you go because you didn't do it on the front end um this is how people end up not speaking to each other

that's what i'm saying don't let it it's a lot of money but i wouldn't let it come between the relationship i mean that sucks if she has to be the one to well carry that okay yeah you're right you're right but either way we just got to work through it and the 112 is first you live on beans and rice rice and beans no life no you don't get to go on vacation yes you take every time someone offers you any kind of overtime with your pt any kind of extra pt jobs anywhere emergency room anything you can do that's legal and moral go do it and make money no eating out no vacations you have made a mess girl and you got to clean it up this is the formula for getting out that's the bad news the good news is it'll actually work and you'll be debt free in around three years if you go whole hog on this get after it get after it that's how you do it jade 40 million people are facing a hard reality in october student loan

payments are coming back yes they are turns out that um the president well he's not gonna do it so there you go we'll just leave it at that we kind of all knew that those of us that are old like a politician lied who knew and um to get votes he's a lawyer he's a lawyer he didn't know an executive order couldn't do that by the constitution but who knew he did but anyway you're gonna get to pay your student loans so our team wants to help here's what we're going to do we're going to be hosting a free live stream situations just like hers just like ali's facing right that this is why we're doing it and we're doing it september the 12th at 7 p.m tuesday september the 12th and it's jade who has paid off over two hundred thousand dollars

worth of student loan debt, Rachel, who never had any, and me, who went broke. So we got a lot of credibility here. There you go. These are the people who are going to get together and teach you. So Rachel Cruz, Jade Walsh, Dave Ramsey are going to talk about student loans, how we got here, and give you a clear plan to pay off your student loans. No kidding.

We're not going to do it. You're going to do it, but we're going to show show you how you're going to be the hero in your journey we're going to give you the sword and tell you how to kill the dragon you are not alone this is completely free go to ramseysolutions.com slash student loans and get signed up for this it's september the 12th tell everybody you know we want to have two or three hundred thousand people watching this free live stream and so we can help at least 20 000 of them because 90 of them won't do squat but a bunch of you need to come and watch and we'll show you how to do it tell you the hard truth and how we got here no

kidding and uh this is not just a whine session this is exactly what you do just like we did with ally can get out of hers and it's on being on a budget, get on every dollar. It's the stuff we talk about. And yeah, you're going to hear it again, but you need to hear it again. And we're going to put it all in the context of the student loans coming back in October. September 12th, Rachel Cruz, Jade Walsh,

Dave Ramsey, get signed up for this at ramseysolutions.com slash student loans. It's going to be good. That's a word. I can't wait. This is an opportunity for people to get free. Yeah. For real.

This is their opportunity. For real. Instead of looking at it like a bad thing. Think about how you feel now versus how you felt with $277,000. I'm living. I'm living my best life. I have a life. I have a life.

And you will too if you do this. If you sit around and wait on Washington, D.C., you're going to die in debt. That's right. Boy, that was a nice word. This is The Ramsey Show. Jade Walsh, our Ramsey personality, is my co-host today. Open phones at 888-825-5225.

Jane is in Knoxville. Hi, Jane. How are you? I'm pretty good. How are you, Dave? Better than I deserve. What's up? Oh, need so much help. I need one of them swords to slay a huge dragon. I might be your toughest case you've ever had. Anyway, my husband is around, he's fixing to be 65. I'm around 59, and we have 10 kids. I'm homeschooling my last one. She's 15. Anyway, long story short, I had to go to work. He got really sick, and so he can't work like he used to. So I'm now working. I started working this past year, and we definitely need help.

We have quite a bit of debt, and I don't know where to start. So I have a car that we made a huge mistake and got a new vehicle and we owe about 54, maybe 53,000 on it, which is, I know, crazy, but we didn't really have a good vehicle for me to go to work in. So we did something stupid. So long story short, how do we, that was my first question. Do we sell that to try to get out of this debt? But I finally realized that we're old enough we need to wish we had these things in plan but i've been a homeschool mom all my life so this is all new to me yes what's the what's the car worth um probably 42 43 what's your

household income together now we make almost about 85 maybe,000, maybe $80,000 to $85,000. Yes. You need to sell it. Okay. Yes, you shouldn't have bought it. Yes, you shouldn't have. Who's got the loan? Hyundai.

Okay. How bad's your credit? I have good credit. Run over to the credit union or your local bank and get an unsecured loan for $15,000, buy a $3,000 car, and cover the $12,000 hole you're in and sell it. Okay, could you say that again? You've got to borrow the amount that you're in the hole in order to sell it, plus $3,000 to get a car. Okay.

Because you've got no car, right? No, he has his truck for the farm, but we don't have a car. Get you a little $3,000 car to get around, and you don't need a $43,000 car to go to work. Okay. So is that the first thing to do? We have a tractor payment of $40,000 and a small person on a tractor. $40,000 on a tractor? Yes.

We have a 500-acre farm that he's trying to still take care of. Like I said, he got COVID really bad. He got really sick, almost died. So it changed our lives two years ago. You live on the farm? We do live on the farm. That's a long story, but we can't sell it because we found out it's in a trust that his parents had put in.

So we take care of it. We have no money to take care of it, but what we make. And so we can't of it. We have no money to take care of it, but what we make. And so we can't sell it. Sell the tractor and lease the land. Okay. Let somebody else farm it. Your husband's sick and you can't afford the tractor, and you're not making any money anyway.

Sell the tractor, lease the land. That sounds great. Let somebody get another farmer to lease it. What's your husband been growing on it? We have corn. I'm trying to think what all he does. Corn, soybeans. They've done a lot of different stuff, too.

I'm not even sure. I mean, if it's a pretty standard deal is another farmer in the area farms it, and you get a percentage of the crop as your lease payment. Okay. That's a pretty standard arrangement. I assume that can go to you. I don't know. You don't own it.

I know. It's a terrible situation. I don't know if it goes to the trust or not. No, it doesn't. I mean, we admit how hard we are. If you make money on the farm, you don't have to give it to the trust, right? No, we don't. Okay.

Because we have to pay the taxes and all the stuff for it. It's just in a trust. I mean, all the land's tied up in a trust. Who is the parent? I'm sorry. What did you say? That's okay. I'm aghast.

Yes, so am I. This is not a blessing. So this is his family farm. Mm-hmm. His grandpa had it? Yes.hmm. His grandpa had it? Yes. His grandpa's grandpa had it? Yes.

Mm-hmm. Okay. And so they put it into a trust so that it doesn't get sold. That's exactly. And then we didn't realize that we actually paid money for the house when we moved here. But we did not know until after they passed away that they actually put the house in with the trust. So we don't even own the house. Okay.

Wow. And so I assume upon your death that the trust goes to your kids. Yes. They're cursed with this as well. That's exactly right. Yeah. Wow. That's exactly right.

I guess there's no way to do anything about it. I don't know. I don't either but I'm going to see an attorney and try to figure out because I don't have my obligation to a toxic situation is pretty low. I mean what happens to this beautiful plan if you all just move off? I don't really know. You quit paying the taxes. That's my question.

Yeah the trust will lose it if you don't pay the taxes because you're getting no benefit from this thing at all. No, we're not. And there's no penalty on them if they leave. That's why we are where we are. Who is the trustee? My husband is. The trustee, you need to go see an attorney.

Okay, do you recommend one that might be? No, go to an estate planning attorney there in Knoxville. Ask around, find out who does good estate planning work, because this probably needs to be busted up. I hate to sell family land like this, but it has become a curse rather than a blessing. That's right. And I love land, and I love family tradition and legacy, and I'm about as the older I get, the more emotional I get about that kind of stuff.

But this has not been a blessing to you, and it's not going to be a blessing to your kids that's right because it's poorly structured and so y'all need to figure out what the flip so go yeah spend a little money on an attorney let's get out of the car and get out of the car deal and get out of the tractor deal what other debt is there uh we have a personal loan for about 30 that we just had to live on since he got sick and that's really it because you have so many payments you can't breathe yeah that's right and nothing really and nothing coming to sale well once you get out of that car and tractor you'll be able to throw something at that personal loan and knock that out yeah and then that'll be

it right yeah just tear that down and tear down whatever hole you're in on the car and you may be in a hole on the tractor as well but um maybe you can get a farmer to take that down and tear down whatever hole you're in on the car. And you may be in a hole on the tractor as well. But maybe you can get a farmer to take that tractor and buy it as a part of leasing the deal if you want to. Investigate that, but also investigate busting up the trust, which, by the way, will solve the whole problem. Because now you're in control of the asset. You can sell off, you know, 50 acres of this, and all of a sudden you've got some money, and you're debt-free. And keep a 450 of it. I mean, you'd be just fine.

So, Dave, somebody passes away, and you're part of a trust, you're part of their will. You can't just simply decline and say, I don't want it. Well, you can fail to perform the things they're asking you to perform. The weird thing here is that he's the trustee the trustees who has the control um and so depending on i'm not an attorney but depending on how the trust is written the trustee is supposed to execute the terms of the trust but also the if somebody's going to break it up it's going to be the trustee and her husband's the trustee yeah so if it was some third party attorney or his uncle or somebody was the trustee, then he you know, you might not be able to get anywhere with it.

But when you're the trustee of your own trust, I mean, that's weird. It's weird. Yeah. So somebody was trying to do something good and honorable and nice and keep them keep it in the family. But instead they handcuff the family and have left them in a toxic situation. So that's what you've got to be careful of, of these things that go in perpetuation. You know, a small example of that that's not nearly as emotional is, you know, we just went through the If Dave dies this year meeting with my family and with the leaders. I have to do this Monty Python meeting every year. I'm feeling much better. It's just a flesh wound. And we just talk about what happens this year if Dave dies. So one of the things that one of the tenants is it's written down and that we go over in that meeting

every year is that nothing that we do at Ramsey Solutions is to be kept alive because it was Dave's dream. Okay, that's good. You're set free from sacred cows. That's good. You should put a bullet in all sacred cows and eat them. Turn them into a hamburger, although you would not eat them. I was going to say, do we have to eat them, Dave?

Can we just? I want to eat them, but I'll be dead and you're a vegan. So we're screwed, right? I'll turn it into a leather jacket. How about that? There we go. Now we're talking. Get some use out of that burger, out of that beefalo.

But anyway, yeah, the sacred cows. And that's what these things become, especially generationally like this. Yeah. Where you're like four generations down. You can't have the foresight to know what's going to happen four generations from now. I turned the kids loose and the Ramsey team loose from doing something that I thought was good 30 years ago or 20 years ago. Kill it. Move on. I want them to turn loose emotionally and legally. Yeah. You go to the next thing. Go to what God has given you to do.

That's good. This is The Ramsey Show. Jade Walsh, all Ramsey personality is my co-host. Open phones at 888-825-5225. John's in Asheville, North Carolina. Hi, John. How are you? I'm good. How are you? I'm good.

How are you? Better than I deserve. How can I help? So I'm in a situation. It's a lot of debt. And I'll just start around the numbers by you. So I'm a first year physical therapy student. I still have two more years to go of schooling.

I myself am in $ years to go of schooling. I myself am in $78,000 of debt. My fiance and soon to be wife is in 220 through Sally May, 220,000. And also

another 88,000 through FAFSA student loans. So totaling all that up, it through FAFSA student loans. So, totaling all that up, it's about $400,000-ish. What's she studying? She just finished physical therapy school. She's been working now for two months. She just started working in June.

She spent $200,000? She spent $300,000. On a PT degree? Why? I know and for the longest time in our relationship. Bad school choice? I mean what was the deal no it's i mean it was it was a state school um up in pennsylvania um but i don't think her family has much they have five kids and i know they recently just got out of debt to my knowledge um okay so she's gotten her first job. What's she making, $80,000? She's making $74,000 before taxes. Is she going to be doing some specialty type of PT that earns more than the average? No. The only thing she could do is get a travel job, which tend to pay closer to, if you would extrapolate it out, closer to $100,000 a year, $90,000 to $100,000 a year. However, with me being in school in Asheville for the next two years approximately.

When are you getting married? We're getting married in December. Good. Okay. All right. Well, I mean, the thing you do, John, is the ratio you're looking at is, and this is the reason we ask these questions every time, is if you get out and you're making $75,000, she's making $75,000, that's $150,000, and you're going to have $400,000. So that's the shovel-to-hole ratio, we always call it.

In other words, you shovel your income, the hole is $400,000, right? Right. Okay. So how quick do you pay off $ making 150 well if you live on 50 and you put 104 years right that's how we do it i mean that's how we run the math it's just big numbers like that because we don't ever we always want to assume you live on nothing and you put everything i mean if you could live on 30 and put 120 it cuts it down by a few months you know but nothing and you put everything i mean if you could live on 30 and put 120 it cuts it down by a few months you know but uh and you pick up some ot which both of you can do

pick up some emergency from emergency room um and anything else you can pick up that's not travel right but um she can make another 20 working ot working some overtime for somebody um it's out it's available and um and it can be done and then you just plow your way through it i mean if you guys get if both of you make 90 instead of making 75 or both of you make 95 instead of making 75 when you get out then that's how you're going to plow through it but it's going to be a because you're not getting out for another 18 months after marriage or so it's going to be because you're not getting out for another 18 months after marriage or so. It's going to be a long slog. I mean, y'all got a three, four year, at least four year program of no life.

Don't talk about buying a house. Don't talk about going on vacation. All I want you to talk about is how much you're going to work and how little you're going to spend. Because the more of that you do, the faster you get out and the higher the probability is that you do get out because otherwise you're going to look up 20 years from now and you're still going to be sitting on that egg trying to hatch it and that's my biggest takeaway for you john don't don't let the magnitude of this cause you to not start because the time's going to pass anyway and you're going to look up in five years and five years from now or four years from now you're either going to look up and this is going to be a gone thing of the past debt that you used to know or you're going to be smack dab right in the middle of it and some of it will

have gone up you see what i'm saying you got to take everything you can get on income and cut every expense you can cut on outgo and i mean we're talking beans and rice rice and beans ramen noodles tuna fishes for broke people i mean this is what you're broke people that's what you're getting into it's what you're signing up for and both of you have signed up for it so yeah and i i wouldn't tell you to do anything other than that i mean get married in december and then start working it as hard as you can work it. Who's paying for the wedding? We collectively as a couple are going to pay probably a little under $10,000. And then both families have agreed to pay approximately $10,000 each.

That's a nice wedding. Yeah, it is. And you're not going in debt for it, so that's good. Yeah, no more debt. And don't tell me you've got good yeah no more debt and don't tell me you gotta buy a car and don't tell me you gotta buy a house you're broke people with lots of degrees yep and you got to clean the mess up man i mean you got to re-identify yourself in your mind and go okay i gotta clean this up i gotta clean this up i gotta clean this up and you just get in that mode and you can do it you can do people do it all the time jade did it you paid off again and it took me longer than you john so you can do it you can do it yeah and but you started with a lot less income that is also that's what i'm saying

at the beginning of it but um y'all paid off 460 something almost 500 yeah that's right total of which almost 300 was student loans that's right it can be done it's a slog but put those milestones in there, build it in. Once we pay off this amount, we're going to do this thing. Once we pay off this amount, we're going to do this thing. It's not enough to get yourself off track, but you have to celebrate those milestones, especially when you're in it for more than two, three years. You've got to keep yourself motivated by doing that. And if it makes you feel better, you can be one of those idiots that posts on the internet, Dave Ramsey won't let me have a life.

I've seen some of those, Dave. Because it's not Dave Ramsey, it makes you feel better, you can be one of those idiots that posts on the Internet, Dave Ramsey won't let me have a life. I've seen some of those, Dave. Because it's not Dave Ramsey. It's you. Yeah. You get to decide. I'm not going to do it. Dave Ramsey just told you how to get out. Jade just told you how to get out.

You could actually post, Jade told me I can't have a life. No, no, no, no. It's till Dave do us part, not till Jade do us part. Well, come on. You can throw me under the bus. You're going to leave me by myself on the mean Internet memes. no no it's it's till dave do us part not till jade do us part well come on you're gonna throw me on the bus you're gonna leave me by myself on the mean internet memes i don't know dave i don't know if i can handle it i'm thinking i think you ought to get i think they ought to come on you guys put it out there jade made me do it jade ruined my life is this because you didn't get the

the slash jade the slash Dave. I'm still bitter. You're right. You're bringing up stuff from five weeks ago, but I'm still bitter. But yeah, the thing is, I didn't ruin anybody's life. I just told you to go ruin your own life so you could get your life back because you sold it to Sally Mae. You sold your butt to Sally Mae. You signed the deed to your butt and you handed your deeded butt over to Sally Mae.

And now you got to get your butt out of hawk yeah and that's what it amounts to and it's a pain in the butt to do it it's not easy a lot of butts going on here a lot yeah you put them in there but it's not the point is the point is there's nothing easy about this you can try to look for a a loophole or an easier way out but when you've got this kind of debt, you have to sacrifice to win. There's no two ways about it. And the weird thing, guys, for everybody out there, John included, congratulations on the December wedding.

We just signed you up for hell. Not the marriage, but the process of getting out of debt there afterwards. But for everybody john included the interesting thing is what happens inside of your spirit while you're fighting through this bingo jade and sam are a power couple to be reckoned with they probably would have become that anyway but they became that more so by fighting this fight the transformation and the calluses that happen in your character that cause you to be able to hold your breath grit your teeth and push through hell and get it cleaned up set the stage for you to be able to tackle anything that's right yeah you can't you can't get between us and at this point there's nothing

there's nothing you can tell me that i'm gonna go i don't know if i can do that it just builds this muscle of belief yeah of it's like when a woman has a baby you can't tell her nothing after that it's like i can do anything and it's the same way when you pay off this debt you can't tell anybody nothing after they pay off four hundred60,000 a day. Exactly. Exactly. And that's what it's going to do. But the force that causes that piece of coal to become a diamond is this extreme sacrifice in a short period of time. And it causes not only the debt to go away, but a wonderful permanent change in your relationships and in your life. That's the beauty of it. So embrace the suck, man. Lean into it. This is The Ramsey Show. Hey, what's up, guys? It's Jade. Look, if you like what you heard in this episode and want to

know more about getting started on the Ramsey baby steps, go to ramseysolutions.com and click the get started button. We'll help you figure out the best next step for you based on your specific situation. That's ramseysolutions.com and click get started.