The Ramsey Show - App - How Do I Get People to Pay Me for a Bachelorette Party? (Hour 2)

Episode Date: December 9, 2021

Debt, Taxes, Investing, Home Selling, Saving, Budgeting As heard on this episode: Sign Up for a FREE trial of Ramsey+ TODAY: https://bit.ly/3rZTUAx Tools to get you started:  Debt Calculator: https://bit.ly/2Q64HME Insurance Coverage Checkup: https://bit.ly/3sXwUn5 Complete Guide to Budgeting: https://bit.ly/3utmVXi Check out more Ramsey Network podcasts: https://bit.ly/3fHhbVE

I'm out. Live from the headquarters of Ramsey Solutions, broadcasting from the Dollar Car Rental Studios, it's the Ramsey Show, where debt is dumb, cash is king, and the paid-off home mortgage has taken the place of the BMW as the status symbol of choice. I'm Dave Ramsey, your host, Dr. John Deloney, Ramsey Personality, number one best-selling author of the book, Redefining Anxiety, is my co-host today.

He does the Dr. John Deloney Show, which has millions and millions of listeners on the podcast version of it. And, of course, you want to tune into that where he talks about mental health and about relationships and boundaries. Boundaries might be a good topic this time of year because you get to see your family this time of year. And so there you go, just like that. Hey, if you want to talk about your life and your money, that's what we're here for. 888-825-5225.

Anthony is with us. Anthony's in Kansas City. Hi, Anthony. How are you? Hi, great. Thank you, gentlemen, for everything you guys are doing, for taking my call. Our pleasure. I am 49 years old, financially stable, have no debt, have a mortgage, $300,000.

My mother recently passed away, left us with a set of annuities, and altogether, they're about $400,000 in annuities. You had a caller last week who you recommended taking an actual annuity over time versus the lump sum. No, I said take the lump sum versus the lump sum. No, I said take the lump sum versus the annuity over time. Okay, take the lump sum. And then do you know if there's a way, or would you recommend taking the lump sum ASAP before any other tax laws take effect?

Yes. Okay, and then the last question. Get it out of there. Pay off your house. Yes, good. And the last question get it out of there pay off your house yes good um and then last question do you know if there's any way to defer this money to for example to have it transferred to my uh i have a two-year-old son um have it transferred to his name instead of my name so i don't have to pay tax on that no there's not not to my not to my knowledge you could check with an estate planning attorney or a tax attorney to get more competent professional advice than I'm giving you.

This might be worth what you paid for it here on the radio, brother. But to my knowledge, there's not any way to move that. You've got the inheritance, and there's no inheritance tax on an annuity, but you're the beneficiary of the annuity. That's what was named on it, and so simply cashing it out, it's not going to be subject to tax when you cash it out. It shouldn't be. You should be just a beneficiary, like a life insurance policy, right? I believe so. And that was my question is that since I'm the beneficiary listed,

I'm the one or my brother and I would be the ones to um benefit from that yeah you get the money and then the money goes into your estate and you own it and then however you can transfer it from you to someone else which is what you would have if you got the money as a bonus from your workplace or something be exactly the same thing it's just your money there's no there's no generation skipping of a beneficial interest unless she had named your kid the beneficiary instead she named you the beneficiary on the annuity so um now just take the money straight out fast as you can get it pay off your house there's no taxes on it so um shouldn't be anyway unless i'm missing something in the story. So thanks for the call, man. Open phones at 888-825-5225.

Elia is with us in Riverside, California. Did I pronounce that right? Is it Elia? Elia? Elia? Elia? I'm right here. Give me one second.

Okay. I'm here. Can you hear me? Yes, ma'am. Is it Aaliyah or Aliyah? It's Aaliyah. I'm sorry. Aaliyah. Aaliyah. I got strike three. I'm out. Okay. Aaliyah. All right. Cool. How can we help, Aaliyah? First of all, you're a blessing. Thank you so much.

I pray the Lord for you guys. You guys are so amazing. Thank you. My question is, I'm going through a divorce. We have an eight and five-year-old. We have a home. There's no judge involved in regards to property yet. I have 10 grand cash at home. I have student loan debt of $78,000.

I'm not sure whether to put that money into the debt or if I keep it for a rainy day since we're going through a divorce. And my husband now wants to sell the property. I was trying to keep it because my kids are so young. We've moved so many times. They really want to stay. I don't know what's going to happen. I don't know if he's going to let us keep the house, if I'm going to have to buy the house, or just completely move. So my question is, what do I do with that $10,000? I'm so sorry. It's hard to go through this.

It is. But, you know, God is my protector. He's my comforter, and he's going to provide. I just need to make wise choices on my end. That's a good point. What do you make a year? Praise the Lord, right now about $70,000. Okay. And what is owed on this house? About $226,000.

Okay. Which means you can't really afford that house, darling. Correct. So right now the arrangement we have is that he's paying child support by paying the mortgage, which is $1,800. So he's been paying the mortgage as child support. That was an agreement that we had out of court. Yeah. That doesn't last. That doesn't last.

I don't know. You still have to raise the children. So your children are going to be better off being in a stable financial situation than they are being in that house. Okay. And that's not what you wanted to hear today. But if I were in your shoes, I would sell the house, and I would get an attorney

and i would get the get the divorce papers finalized here's the problem okay um sometimes folks going through a divorce um are trying to be nice and are trying to say well we're gonna you know i'm not gonna be unkind i don't want you to be nice and are trying to say, well, I'm not going to be unkind. I don't want you to be mean or unkind. But once you determine the marriage is done, once he determines he's done, at that moment in time, a divorce changes a marriage into a business transaction.

Okay. And this is now about a transaction. It's no longer about feelings. There's a lot of feelings involved. Okay. And this is now about a transaction. It's no longer about feelings. There's a lot of feelings involved. Okay. A lot of anger, a lot of hurt, a lot of betrayal. Whatever those feelings are, they're all there. But you've got to treat this like a business transaction,

and you guys are half-butt doing your business transaction right now. There's no judge involved, and he's's doing this and he's doing that. And maybe he will do this and maybe he'll make me do this. And all of that sounds like somebody's doing a bad business transaction to me. Yeah, okay. And usually it's because somebody doesn't want to call it. You want to play both sides of the fence. I want to be not together.

I can't be together. We can't be together for whatever reasons. But I don't want to go through all the way to the end and say this thing is over, over, over. And this is over, over, over. I'm so sorry. I'm so sorry. Move, get you a conservative property to live in. Your children will be better off.

And hold the 10 grand until all of the smoke clears on this and there is a finalized divorce because you may need it at some point during there. And, yeah, he needs to pay child support. That's how things work in this world. This is The Ramsey Show. People put off buying life insurance and getting the protection they need for a variety of reasons. So let's clear up a few myths to make sure you get your family protected. First, term life insurance, it's not expensive. In many cases, it's just plain cheap. Most people are surprised by how much less expensive it is than they thought. Second,

life insurance through work is not enough. You need 10 to 12 times your income to protect your family and relying on protection that in most cases you lose when you change jobs is a big mistake. Third, stay-at-home parents need life insurance as much as anyone, especially those with young kids at home. How else will your surviving spouse get the help they need? Lastly, it's not complicated, especially when you use Zander Insurance. They shop the top companies to find you the best rates, and they're there every step of the way. Visit Zander.com or call Zander at 800-356-4282. Dr. John Deloney, Ramsey Personality, is my co-host. Merry Christmas, America. We're so glad you're with us.

Open phones at 888-825-5225 if you've had it with living paycheck to paycheck you're sick and tired of being sick and tired uh well you can break the cycle you can take control you need the right plan and we'll teach it to you we've taught tens of millions of people in financial peace university It's actually about 10 million folks have been through the claim, 6 million families or so. And we've shown them how to get out of debt, how to save money, how to be on a budget, how to be outrageously generous, how to become wealthy.

The average family pays off $5,300 in debt and saves $2,700 in the first 90 days of the class. That's an $8,000 change in three months. It's pretty dramatic. Now, we'll walk you through the plan, but it's up to you to get started. Financial Peace University is available as a Ramsey Plus membership item. And, of course, you also get every dollar, the premium version that connects to your bank as part of that, all of this.

Go to ramseysolutions.com slash FPU. Maybe you want to gift it to someone for Christmas. RamseySolutions.com slash FPU. Matthew's with us in Boston. Hey, Matthew, welcome to the Ramsey Show. Hi, thanks for taking my call, Dave. How are you doing? Better than I deserve.

What's up? I've got, I guess it's going to be a not necessarily complex question but i've got about 1.2 million in investment debt um the value is about 2.3 million um and then personally i've got a mortgage of 925 000 um my combined family income is $230,000. I didn't find you until about July of this year, so I've adjusted. I'm technically in between baby step five and six. Okay. I'm trying to find out. I've got some extra cash. I've got about $150,000 in extra cash that I was either going to invest or start to target and pay down my

investment mortgages. I just don't know which direction to go. Well, I would begin to clear the mortgages because that's going to lower the risk of the portfolio dramatically. I mean, you got about a 35% equity position, so you got a pretty good equity position, but I like 100% equity position, and that's what I've got in my real estate and what I recommend. So, I mean, you're sitting there with $2 million worth of real estate paid for plus a paid $4 million house. You can breathe, man.

That's a whole different world. That would be pretty cool. And you're about $2 million away from doing that. So, got $150,000 to start the process and $200,000 income. So, what is your smallest? The 1.2 is how many properties? So we've got $150,000 to start the process and $200,000 income. So what is your smallest? The 1.2 is how many properties? Four.

Excuse me, three. Three. What's the smallest mortgage? $253,000. Okay. All right. There's two things I look at when I'm considering doing this if I'm in your shoes. Thing one I look at is I try to work a debt snowball,

pay off the smallest to the largest. That's one thing to consider. The second thing I look at is something happens in my 30 years of experience of doing this when your home is paid off. Something happens inside of your soul that's different than paying off your rental. So there's a bit of a risk management thing in there, too. If you had to choose in a horrible situation which property you were going to lose because you couldn't pay the bill, you would choose to lose the rental before you choose to lose your residence. Absolutely. And so for that reason, I generally put the house at the front of the real estate to get paid off.

Now, you've got a house that's almost as much on as you do for property. So that makes it a little more difficult. But if you had a rental, say somebody called me and they said, hey, I've got $200,000 on my house and I owe $180,000 on my rental. I would say, let's get your house knocked out because of risk management. Does that make sense? So those are the things running through my head while I'm answering your question, the principles that I kind of use as my guidelines.

So if I woke up in your shoes, I'd probably pay off the smallest rental ASAP, use the $150,000 towards it, and then just take a bunch of your income chunk towards it. And then I'm probably going to just take everything else I can drag off the table. I'm sorry? The next rental property is, so it's $253,394. Yeah. So if I pay off the $253, then roll it into the $394. No, I'd pay off the $253, and then I would roll it into your home.

Into my primary. Yeah yeah i'd flip i'm gonna knock out that little one just to create some more cash because that thing will cash flow like a bandit when it's paid off and then i'm gonna do that i'm trying to create some cash and and then i'm gonna put that cash with your great cash and then i'm gonna start chunking on your house it'll probably take you three maybe four years knock your house out and then you'll flip over and start knocking those rentals out after those other three rental debts out after that. Then when all of that is paid for, you're going to have so much cash you're not going to know what to do with. I just sat down with our CFO this morning going over our rental properties because it's time to start planning taxes. And, you know, when you don't have any payments on rentals, they make money. That's a lot of cash.

Yeah, and so you get these things all paid off in the future, then you'll be able to buy another rental with cash pretty quick, and then another rental with cash even faster. So I'm not a real estate, I'm not there. Why wouldn't you liquidate those rental properties and just pay your house off and square up you could okay you could um i'm at this point in your million dollars of equity in right i'm reading into this because he didn't even bring that up uh and he's probably i was reading and i was reading into this that he's pretty emotionally invested into that whole process.

And cleaning it up is an option. Selling them all is probably not something he's going to consider doing. That is something you could do. Or you could do a partial of that. You could pick one of the four and dump it. Take that equity and accelerate this process and then go back and replace it later. Or pick one of the four that, yeah, the one of the four you could pick would either be the peach that had a lot of equity to make it go faster or you could uh pick the one you don't like yeah of the four i got one i got one you know uh winston

rachel's husband manages ours and we're talking about it at breakfast of the morning goes well if we didn't own such and such an address we'd never buy it again and i went oh well that's true we wouldn't but we've got it so we're going to keep it but if we you know we're talking about what we're going to do the next five years it goes we'll never buy one of those and he named that street name you know and you're right i would never buy that one again so that that'd be the one i would sell if i was trying to accelerate something over on my side i'm not i'm just buying whole but um but that's yeah you could liquidate them all and just 100 pay off everything today yeah. But then you have to start over on the rental. That's right.

And I'm guessing – He's not going to do that, no. I'm guessing that Matthew is probably pretty invested emotionally in this whole process. And so, yeah, but bringing that up makes me think about selling one of them for sure. I like the idea of selling one of them, taking the $150,000 cash, and suddenly I'm i'm almost halfway done with my mortgage over you know overnight and maybe that's too simplistic and there may be more there's mortgages against the other ones so it's not quite that that the math not quite that clean

but um i i you said something that was important there's something about having a paid off house that just changes everything i think um i don't think when we went broke i understood the borrower or slave to the lender because they took stuff from me uh you know and i'm worried about the car being repoed i'd go out in the morning and wonder if it was going to be there uh and that kind of stuff going through the bankruptcy and uh so that that i had a whole new perception on debt after that and the power it has over you spiritually, emotionally. That was one time I experienced the weight and the truth of that scripture. The second time was when I was 100% debt-free after I paid off the house and everything is done.

And you do walk out in the backyard with no shoes and the grass feels different under your feet. And something snaps. There's a peace button inside of you that flips. So do you know how many Americans are a percentage of homeowners have a mortgage? About half, oddly enough. Wow, I thought it'd be way higher than that. I did too. I just got fresh numbers the other day.

About half are paid off. So one of my core beliefs about psychology is you can't be mentally well if you are not in control of your tomorrow. And it hit me. I've been here almost two years now. Wait a minute. If you owe somebody money, you cannot be psychologically well because a part of your brain knows we're not in control of tomorrow. And if you don't believe me, just walk through a pandemic. Wow.

You find out you're not the third pig in the brick house. You're the one in the sticks in the hay house. You pay that mortgage off and you can breathe. Yeah, it's a different thing. It's a worthy goal. This is The Ramsey Solutions on the debt-free stage, Andrew and Jane are with us. Hey, guys, how are you? Hey, Dave, we're excited to tell our story for God's glory.

Well, there you go. I love it, man. Welcome, you guys. Where do you all live? We live in Des Moines, Iowa. Very cool. How much have you paid off? Over $824,000.

Holy! Wow. How long did this take? It took us two years and seven months. That's amazing. Okay. And your range of income during this time? $101K to $291K.

Wow. What do y'all do for a living? I'm a CPA. And I'm a pharmacist. Okay. So $824,000. Did you pay off your house? We actually sold two houses. So yes, in a way. Okay. All right. So there's a lot to the story. Okay, good. Good. I mean, there's maybe a pharmacy degree in there or something else. But yeah, but okay. Oh my gosh, that's a lot of money okay very cool so tell me the story two years and uh seven months and you sold some stuff what did you sell and how much and why did all this start sure so we had two properties in florida and we decided that it was a great opportunity to sell those properties at

the peak in florida and um that those properties were worth $425,000. So that was part of it. Then we had her student loans. Then I had everything. I had credit cards, business loans, personal loans, car loans. I had the rest of it. So it was a big mess, mostly on my part. So the houses sold for $425,000 total?

Yes. And we took those proceeds, which was about which was about 150k and we put that towards our debt which moved us from baby step two to baby step five okay wow i mean that the mortgage was 425 or the sale price the mortgages were 425 okay did you have some other cash you threw at this as well or some other investments we had profited um yes when we sold the uh properties and then the rest was just work our income throwing everything at it okay wow that's impressive guys very very cool it's like almost y'all didn't eat for the last few years there's definitely a lot of beans and rice yeah but now you've got an incredible income you moved from

florida and now you live in Des Moines. Uh-huh. And both of you picked up your careers there and went. Yes, sir. All right, very cool. So what made you guys get so intense to do all this? Well, we first actually heard about you, Dave, three years ago, a little over three years, when we had premarital counseling for the first time.

Our pastor had brought up your program at Community Bible Baptist Church, and we were really interested in starting our marriage off in the right foot. And so we got married, and that's when we signed up for FPU and started on Baby Step 1. All right. Very good, you guys. Wow. How did that feel when you looked at Baby step one and you added up all your debts and you thought,

wow, if we stretch, we can hit a million dollars owed. It was definitely a long journey, that first step. I mean, it didn't seem like we'd ever get there, really, honestly. But then the idea comes into your brain to sell everything and make a big move. Well, that came later. First, we sold her car, and I became her personal chauffeur. Okay. So that was step one. And really from there, I was running a business that was failing. I was living on lines of credit. And really what happened, we went through FPU, and I decided I

need to get a shovel. So I got a full-time job as a recruiter. And then a few months later, I actually called you, Dave, and you walked me through the steps of what I needed to do to get out of my situation. And I was actually contemplating bankruptcy because I had so much debt, and I had friends and family that said, hey, maybe you should just declare bankruptcy. That would be the easy way out. And you walked me through it, Dave. You said, you know what, you have a decent shovel, and you can get out of this. And you said two years, you'll get out of debt.

And here we are today. Two years and seven months later. Yeah, so a big thank you, Dave. Wow, that's amazing. Well, you did it, man. You took on the mantle and went after it. Yeah. That's impressive.

Very cool, you guys. A lot going on here. Oh, yeah. There's a lot going on here. Career changes, redefining who you are, getting married, moving, selling houses. I mean, this is no small debt-free scream. No, no. We definitely had some enlightened arguments about our finances.

Enlightened arguments. Wow. That isn't what we call them in hillbilly land no we call them fistfights but it's cool knock down drag out yeah enlightened argument oh my that's beautiful it's a great phrase uh all right you have had incredible success and incredible uh span of transformation what do you tell people the key to getting out of debt is? I would say for me, I read Proverbs every day after I listened to your show for so long. And you have to put in the work. And my favorite Proverbs is Proverbs 28, 19, which said,

those who are willing to work their land will have abundant food, but those who chase fantasies will have their fill of poverty. And I was living in a fantasy world trying to run a business, and that didn't work. And I said, you know what, I have to get to work. And that's what really worked for me. Wow. Old-fashioned. Let's work.

Not get rich quick. Let's just get it done. So do you have any other major changes coming along? So a lot has happened, and as Andrea has mentioned, we propelled from baby step two to baby step five which is saving for a kid's college fund because we're expecting our first born next spring that's awesome yes and if you don't mind we don know, but we would love everyone on air to know the baby's gender. Ah, okay.

Oh, you don't know. We don't know. You're going to find out too. Yeah. Yes. Oh, my. Okay, let's check the envelope.

Yeah. Here it comes. Oh, this is cool. Go team girl. All right. You ready? Sure. We're having a girl.

It's a girl. She wins. She wins. She wins. Go team girl. Team pink. She called it. She called it. She might have peaked.

Maybe she didn't. Way to go. Congratulations. So your mom and dad just found out too. Yes. Right now watching. Yes, they are. Everyone knows now. How many grandkids have your mom and dad just found out, too. Yes. Right now, watching. Yes, they are. Everyone knows now.

How many grandkids have your mom and dad got? This is our first, and their first. Oh, it happens all right here. Oh, my gosh. Well, we've had engagements here, but I've never had a baby reveal. I know. And look at them. They're not crying.

They're getting close, but they're holding it together. That's fantastic. A little girl. Trust me, after three years, it's been a journey to get here. And we just want to praise God. It's not us. It's really God that brought us here today. Yeah.

You've worked your tail ends off, and you've worked a system, and you've been very, very intentional. You are not living a fantasy. You were playing grown-up instead of waiting on someone else to fix your life. Pretty stinking incredible, man. And this little baby girl won't know any of that because y'all put the work in. That's it. She's coming into a completely different world.

Different life because of the work y'all put in. Changed your family tree, man. That's why. She won't even know. She won't even know. Well, we've got this on video, so she'll have this to look at later. You can play this at a rehearsal dinner.

That's right. Will do. Oh, that's so fun. Well, congratulations, you guys. We're so proud of you. Who were your biggest cheerleaders outside the two of you? Because you went through a lot. So we went through FPU.

We eventually led a class. So got to give a shout out to our supporters, our co-facilitators, Alina and Trent Hall, as well as my best friend, Jan, who purchased FPU six months after we did. Oh, wow. Very cool. And just for me, I mean, she was my biggest cheerleader. Similar to the story before us, I was driving Uber Eats, DoorDash. And again, if you want to get out of debt, she was with me in the trenches our Friday and Saturday night date nights. She was riding with me, ride or die. Uber Eats, DoorDash. She was with me in the trenches our Friday and Saturday night date nights. She was riding with me ride or die.

Wow. Uber Eats, DoorDash. She was with me Friday and Saturday nights. That is an H-O-T date right there. Yeah. So if you want to spend three or four hours on a Friday or Saturday night, she was with me every weekend. Wow. Putting the work in.

I love it. You guys are incredible. You've got an incredibly bright future. We're so proud of you, heroes. Very well done. Wow. Wow. And baby girl on the way.

Hey, we got a copy of the new book, Baby Steps Millionaires, for you. That's the next chapter in your story for sure. You're going to be there in 20 minutes the way you're going. And a copy of Total Money Makeover for you to give away and bless someone. You guys have been a blessing to us today. Very inspiring. Thank you. Andrew and Jane, Des Moines, Iowa. $824,000 paid off in two years, seven months, making $101,000 to $291,000.

Sold everything, loaded up the truck, and moved to Des Moines. Count it down. Let's hear a debt-free scream. Three, two, one. We're debt-free! Yeah! Yeah! Baby girls on the

way. Baby girls. Girl power. You gotta love it. This is the Ramsey Show. We'll be right back. Dr. John Deloney, Ramsey Personality, is my co-host today. Frank is in Denver. Hey, Frank, welcome to the Ramsey Show. Hey, Dave, how's it going? Better than I deserve. What's up? Thanks for taking my call.

So I recently got debt-free maybe a couple months ago. Don't have any student loans. Don't really have anything. I have about a year's worth of expenses saved up. And I just got some bad news that I have to pretty much rebuild the entire front suspension of my car. And it's going to be about $3,500 to do it. And, um, I mean, the car's only worth about $2,000. So I don't really, you know, think that's a feasible move,

but I also don't want to, you know, get an auto loan or anything like that. And I'm just trying to figure out, you know, should I find a, trying to find a car, you know, under $10,000, but it's just, it, it, it's hard out. I mean but it's hard finding them, especially something without a little drive. So I just need a little bit of guidance. Okay. How much do you have in savings? It's about, off the top of my head, I know it's like over $50,000 in savings. Okay.

And what do you make a year? About $100,000. savings. Okay. And what do you make a year? About $100,000. Good for you. Okay. So you're thinking about spending $10,000 on a car, and your car was a $2,000 car but now needs $3,000 worth of work, so it'll sell for $500 to $1,000 salvage, right? Yeah, that's what I was thinking about you know less than probably less than about a thousand yeah all right and so you got that thousand and then you've got fifty thousand

because you know three to six months of expenses is enough for an emergency fund and you have a year's worth so that leaves you some money to do other things with including purchase a car and you're talking about buying a ten10,000 car, right? Yeah, I don't want to go over $10,000. And you just write a check for it. You have the money. Yeah. Well, it's just hard. I'm trying to find a car about $10,000 that has all-wheel drive

and that's somewhat reliable. I mean, I really want to go to point A to point B, and I haven't found one in the area that I'm at, and I've kind of been looking for the last week. Well, I mean, you're just going to have to look and find a car, dude. But, I mean, we really can't put the premise forth that there are no $10,000 reliable all-wheel drive cars. We do know that those exist, and it's an unreasonable premise to say that that doesn't exist. It does exist.

You may have to buy one with a couple hundred thousand miles on it. Keep in mind, Frank, you've been driving a $2,000 car. You're moving up five acts. Right. So I don't know how all of a sudden a $10,000 car is not reliable when you've been running around in this hoopty and making it just fine until the front end decided to drop out of the stupid thing. Make it a priority.

Sit down and play it. I've had it for like seven years, so I've done all the maintenance on it. So I know pretty much every nip and cranny of the vehicle. So that's kind of one of the reasons why, you know, if you buy a used vehicle, it's at $10,000. You don't know the maintenance. If you've done all the maintenance to keep this hoopty running for all these years, you know how to look at a car and figure out if you're buying a you know something that's destroyed or a limit

or something i mean you're looking at the miles uh you go pay to have the oil changed you can even go to one of the places have the oil analyzed until you know see how many how much shavings is laying down there in that in that oil pan and uh you know you know you can do a little bit of research on that particular type of vehicle with that particular engine and find out you know you know you can do a little bit of research on that particular type of vehicle with that particular engine and find out you know the reliability of it but there's lots of good ten thousand dollar cars out there that are all-wheel drive and uh the car market in general is wicked crazy like a lot of markets right now it's it's not a great time to buy a car um so you know it's not exactly like they're sitting you know so there's a shortage and there's

a prices are being marked up that's a reality but the fact does remain that with a little bit of work you're going to be able to find you a car now i will tell you this before you go and overspend or rationalize or become emotional and do something really stupid like take out a car payment because you can't find something uh just go rent a car and rent it for you know two weeks and spend a little bit of your money to give yourself some patience if you're if you're stranded just go rent you a car and that keeps you from feeling forced into a stupid idea and um you know and you don't have to rent something super expensive just rent something that'll get you back and forth for right now and let you calm down and okay the pressure's off because i'm not riding the bus anymore and uh and while the other car sits over there you know it's come if it's completely laid down and it sounds like it is maybe it's still drivable i

don't know if it's still drivable just drive drive your old one for a little bit and be careful because the front end ain't much left of it. So I heard a little bit of grief in there, Dave. Listening to him describe his old car. He wants something. He knows that car. He's talking about like an old girlfriend. I knew her. I loved her.

Time for her to go, man. Gotta let her go. There's some grief in there. Well, yeah. I mean, they've been friends a long time let her go. There's some grief in there. Well, yeah. I mean, they've been friends a long time. Seven years. Alex is with us in Montana. Hi, Alex.

Welcome to the Ramsey Show. Thanks for taking my call, Dave and John. Sure. What's up? Question for you about a bachelorette party. Hey, you asked the right two guys. We both are absolute experts on bachelor parties. I can't wait for this.

Hopefully you can help. For sure. I am the maid of honor for my good friend. And she's thinking of inviting quite a few girls to her party. And looking at some B&Bs, price range is like $1,500 to $2,000 for the weekend. So just wondering, I don't want to front money. I don't want to be the one to reserve it unless I have, you know, some payments up front, but I don't really know how to tell her that or suggest maybe she wants to put her card down. I'm just looking for some guidance on what I should say.

I think guidance number one I'll give you is two words, pedal tavern. That's what I'm saying. If you want to get an Airbnb and make it some nice fancy weekend. John, John, John. Yeah. Can't take this guy anywhere. All right. No pedal taverns.

No pedal taverns, John. You might be a redneck if your bachelorette party is on a pedal tavern. Or you might live in Nashville. John. Or you might have come to Nashville. Yeah, those things are a blight on our city. All right. So, wow. $1,500. What do you make a year? you might have come to nashville yeah those things are a blight on our city uh all right so um wow

1500 bucks what do you make a year uh about 80 okay uh i make my husband makes 255 and we're just working on paying off our house but yeah he's more like we do not need to be you know what alex if i'm anything alex if i'm you i'm jumping right in the middle of this He's more like, we do not need to be. We don't spend money on anything. Alex, if I'm you, I'm jumping right in the middle of this and going to be just clean and clear and direct. And honestly, I'm rather emotion-free. Get the list of the names and send them out and say, hey, I'm going to make this thing. I need everybody's money by this date.

Otherwise, I'm not going to put it forward. And then mow me the money, and we'll call it i mean i would just i would be that clear about it but in terms of like i haven't talked to her about it so you know do i just say like i'm if you're responsible for throwing the party and for pay and for putting the money up front you don't even need to talk to her you need to have the list and you send it out like john said now you're not asking mr and miss manners here because we don't have any manners we're just telling you how to get the money yeah yeah yeah okay and i okay i i think be real clear with her and you here's the deal you're an adult and you got to have adult boundaries and if you're not going to here's what's going to happen you're going to end up putting this on your own,

you're going to pay for it, some people aren't going to pay you back, and you're going to get mad at her because you didn't have boundaries. Don't do that. Have all your boundaries up front and say, if you have to have that conversation, do it. I don't think you have to, like Dave said. I don't think you've got to call her and say, I'm not putting this money on my, no, just say,

give me the list of the names. How long have you known the maid of the bride yeah for a while probably i don't know over 15 years 50 15 oh okay one five okay i was thinking the paddle tavern definitely ain't working okay i will pay for that one. You are so little bigger. Okay, so here's the thing. I mean, and your relationship stems, when did you, you were childhood friends or what? Yeah, probably middle school and nine. So if I'm in your shoes and I have a household income of $120,000, if I get half the money,

I'll put the other half in and I'm going to call it a day. A dozen bucks. I love this lady. She's my best friend since childhood. I'm in her wedding. I'm made of honor. And you do the best you can to collect it, and you release this and be chill about it. But, yeah, you do get a list of names and say, here's how you Venmo it, and I expect you to pay your part.

And there it is. And be nice and kind and clear. And you don't really have to ask the bride's permission to do that. You're the one paying for it. That's nothing to do with etiquette or manners. We don't know that. This is The Ramsey Show. Hey, it's Kelly, associate producer and phone screener for The Ramsey Show. If you would like to do your debt-free scream live on the show, make sure you visit theramseyshow.com and register. We would love for you to come to Nashville and tell Dave your story.