The Ramsey Show - App - How Do I Leave a Legacy for My Kids? (Hour 1)

Episode Date: January 18, 2024

🎵 Live from the headquarters of Ramsey Solutions, it's The Ramsey Show, where we help people build wealth, do work that they love, and create actual amazing relationships. George Campbell, Ramsey personality, YouTube sensation, and newly minted best-selling author is my co-host today. His brand new book, I'm proclaiming it a best-seller.

It isn't technically yet, but it will be. Breaking Free from Broke, The Ultimate Guide to More Money and Less Stress. And by attacking all of the evil villains out there in the money space, George very carefully and with great craftsmanship unpacks all of the traps that you have to avoid and the people that are out there to get you and in the process gives you hope.

That's the goal. And the feedback has been amazing on that. It's exactly that. People are saying you've dismantled not only the myths, but all of the objections that I've had toward a debt-free lifestyle and the things that you've heard over 30 years, Dave. And I've heard them on the show as we take calls. And so what I try to do with the book was get in their heads before they could even say it and say, I know what you're thinking right now. I pay off my card every month. I've never paid a dime in interest. We've heard all of these things over 30 years. And what I wanted to do was not just have some kind of emotional opinion, but actually give you data and research and analogies and empathy and humor to help you understand why your plan ain't working for you so far and a

different plan that could actually work. Well, and you clearly define, I mean, when we talk about it on the show here a lot, what normal is. Normal sucks. And if you're going to be normal, you're messed up. And Romans 12 says, be not conformed to this world. Don't be normal, but instead be transformed. How? By the renewing of your mind. And you do that by putting information like this book in, and the result is hope. Yeah, and it starts with that paradigm shift because why would you even attempt any of this Ramsey plan

if you don't believe it's possible? And so when you start to think differently, the renewing of your mind, you begin to act differently. And when you act differently, and we see this on the debt-free stage, you believe that a different life is possible. It's amazing the relationship between those three. I'm amazed. People can run through a wall when they have hope. Yeah.

And they can't cut paper. They can't find their way out of a wet paper bag when they have believed that the little man can't get ahead. They believe they're trapped. They believe there's no chance of winning because there's plenty of people out there to tell you that. Oh, it's so easy. You look at the headlines and it's easy to lose hope.

It's the natural state of mediocrity and of loser talk and busting through the loser talk and getting, I'm not going to live like this. I'm not going to live like this. And then you see a path. You see, I think I could go from here to over

there. I actually see what George is saying. I think it's doable. And that's called hope. When you open up that path, and it's a believable path away from mediocrity, away from friends and relatives that tell you it can't be done. Well, and I was that guy. I was cynical. Back in 2013, as the guy who fell for all the traps and followed the path society told me, $40,000 in consumer debt, I was cynical toward adulthood. And so I actually end the book with a chapter called Ignorance Was Bliss,

because I believe you know too much to still stay broke after reading this book. And so I tell people, it's easy to be cynical. You can wake up every day and decide to be cynical. What's harder is deciding to be cynical. You can wake up every day and decide to be cynical. What's harder is deciding to be hopeful and choosing hope and then creating the habits that get you out of that mire that you've created. And so I tell people it's not all their fault, but it's their responsibility. No one's going to come saving you. And so you've got to drop the victim mentality

for this victor mentality. And it's not easy. It's not all woo-woo it takes real action yeah and part of the action is clearly identifying that there are some people out there operating in the world that do not have your best interest at heart hello their job is not to help you their job is to take stuff from you and um legalized fraud you know we're gonna you know legalized horrible financial products and you know everything from the stupid timeshare which is definitely legalized fraud uh to to the credit card point that nobody ever redeems to the credit score that is the gateway drug into all of the debt yeah which is the you know that's worshiping the golden calf there you know the great fico is

now your provider. Oh, great FICO, we bring you offerings of stupidity and interest. Well, what's amazing, Dave, is that, you know, debt has not been around that long in its current form. Our obsession with debt, especially American culture. And so I actually walk through the history of the credit score and the history of the credit card because it gives us some perspective to go, wait, this thing was like invented by the 90s? That's crazy. This wasn't around on a grandparent's day. They thought debt was shameful.

The old American Express thing, don't leave home without it. Turns out Daniel Boone did. You know, I mean, who knew? It's a fairly new thing. And you're right. And unpacking all of that helps you to break free from broke. The ultimate guide to more money and less stress and uh not because money keeps you from having stress but because having a plan and a belief system that leads you towards winning

that will lower your anxiety level immediately even if your situation hasn't changed a a clear path that you know works that you can follow and i'm now on that path i'm going to put my right foot in front of my left foot in to put my right foot in front of my left foot in front of my right foot in front of my left foot. And I'm going to take a couple steps in this direction. All of a sudden, your anxiety goes down, even though your situation hasn't changed yet. Absolutely. And you've talked about this day for years that money is a tool, but for so many, money is an obstacle. It's not a tool that they can use to build wealth and give generously. Instead, it's a stress point, not a bless point. So that's the point of this book right here is to help you

see money in a different way, help you create the actions necessary and give you the ick to go, I need a shower after understanding how this debt system actually works. And I now believe it's possible to live without it. What are two or three of the ugliest things you found in the things that these companies are doing to people? Oh, my goodness. Well, I interviewed an ex-Capital One manager who spilled the tea and said, straight up, Capital One, 10,000 experiments a year on consumers to keep them trapped. There is a reason why they move from cash back to points and rewards to try to confuse consumers, and they can devalue your points at any time if you don't play their game perfectly. So that was one piece. And the other was a Federal Reserve study that showed exactly where credit card rewards comes from. $15 billion is moved,

a wealth transfer, from the poor uneducated to the wealthy educated through credit card rewards. So for years, people said, well, Dave, my rewards come from transaction fees. Capital One's earning report says otherwise. 75% of Capital One's credit card revenue came from interest and fees charged to people who are broke. That's how you got that free flight. That disgusted me, Dave. Wow. So you're participating in wealth inequality. Whoa, look at that. That one was for the social folks out there who were going, whoa, if you're going to get on your moral high horse, there's an argument that's hard to argue against. And one lady even messaged me and said,

hey, I had done the Ramsey plan, but we kept the credit cards. After reading that chapter, you convinced me to finally cut them up. I needed a shower after reading that chapter, and we decided we're done with this game. It's not worth being a part of that system. Well, these goobs are not agnostic. They're not without belief systems. They have a belief system, and their belief system says,

take all your money. Well, there's a reason Capital One sponsors the Taylor Swift Tour, and we can't afford tickets to the Taylor Swift Tour. They are winning. You can't beat the house. The house always wins. So stop playing the debt game. Be free.

There we go. The new book, Breaking Free from Broke, came out this week. You can pick it up anywhere that important books are sold, like RamseySolutions.com, your bookstore, Amazon, all those kinds of things. This is The Ramsey Show. jade washall ramsey personality best-selling author is my co-host today our new quick read money's not a math problem hit the bestseller list last week so uh big deal that's uh that's your first one on the list right yeah i didn't even know that that was possible with a quick read so here we are they sometimes will sneak on there.

You never know. Good job. It's exciting. It's a lot of fun. It's a great book, too. Great read. David is in San Bernardino, California. Hi, David.

Welcome to The Ramsey Show. Hey, Dave. Thanks for having my call. Sure. What's up? Hey, so I've been watching your show since I was like 17. It's done me pretty good, thank God. I'm about 25 years old now.

I graduated in 2021. I paid off all my student loans and I just got myself back into debt by buying an investment property. I have about $75,000 in savings and $15,000 in stocks. And I was wondering if I should take that $90,000 and drop it into this first investment property to pay off as much as I can of it, or if I should drop it on a down payment for a second investment property. Well, if you've been listening to me as much as you say you have, you know the answer to that question. That's accurate. I guess my question was, if I'm in an area where I know I'll have tenants, I know you always say you can't depend on them always paying your mortgage for you, but do I take that risk?

So I'm living with my parents right now. I don't have my own mortgage. Is it a risk that you would think is worth taking, or is it just an automatic no? I don't borrow money because I don't think it's a is worth taking, or is it just an automatic no? I don't borrow money because I don't think it's a risk worth taking. And I have not for 30 years told anyone ever once to go borrow money for an investment property because I don't think it's a risk worth taking.

And that's probably not gonna change today, David. What do you owe on the first mortgage, The one that you have, the rental. So I just bought it two weeks ago. It's a $400,000 property and I dropped 20%. So I've got, I think 325 left on that. Yeah, I would definitely take this money. I'd probably cash out the stocks. I'd take the 75,000. I'd set aside three to six months of your personal expenses, keep that aside and then I'd throw the $75,000, I'd set aside three to six months of your personal expenses, keep that aside, and then I'd throw the rest at this mortgage and pay it off as quickly as possible. Okay, that sounds good. I mean, the $90,000 I'm talking about is aside from any emergency fund. I've got that set aside already. David, there's three rules in business.

It takes twice as long as you think it's going to. It costs twice as long as you think it's going to. It costs twice as much as you think it's going to, and you're not the exception. And so you're all bright-eyed and bushy-tailed, and you act like you can automatically get a renter, and you're in an unusual situation so that there's no risk, and you're wrong. There is risk. It takes twice as long as you think it's going to. It's going to cost twice as much as you think it's going to. The renters are going to pay half as much as you think they're going to pay, and half the time when you think they're going to pay. And you're going to discover that real estate is anything but a passive investment. It's a very active investment.

You have to be very actively involved or you're going to get your butt chewed up. And the less debt you have, the higher the involved or you're going to get your butt chewed up and the less debt you have the higher the likelihood that you're going to survive investing in real estate much less thrive i hope he can afford that mortgage payment if he doesn't have a renter yeah otherwise he's going to be up a creek without a paddle yeah yep that's the thing so guys uh i don't want to uh pick on dave right straight david straight out of the shoot here but um let me just go ahead and i'll remind some of you that are fairly new to this place uh if you come on here and you say i've been listening to you for 10 years um and you know what i'm gonna say don't be shocked that i say what you think i was gonna say

because it's kind of been the same you're very consistent dave yeah i mean my my pastor said dave you're a one trick pony you only have one story and i said well so do you one sermon that's hilarious so true been preaching the same thing oh there you go open phones at 888-825-5225 natalie's in los angeles hi natalie how are you hi thank you for taking my call today sure what's up um my question is my husband and i have been saving for uh a house for almost six years. Our plan we thought would be three to five years, but then COVID happened and everything is inflation and we still aren't in a position where we can afford a house. And so my question is, we have money saved and I'm not sure what we should do with it because it's just sitting in the bank. How much do you have saved? We have about $90,000

and my goal is by the end of the summer, we'll have $100,000. That's awesome. So can you just drop it in a high-yield savings account, like one of those online ones? I mean, the rates are pretty decent right now. So how long would you suggest i guess you just the high yield savings accounts don't have a time on them uh-uh you can just drop it in there and kind of set it just forget about it and when you're ready to use that money you can pull it out there's no stipulation on pulling the money out oh okay um the uh uh i'm a little, what's your household income? So we have like a very unique situation. We live in L.A. County.

My husband is a school teacher. We live just on his income, but we don't pay any housing expenses. We manage a property, so I'm a property manager. What's your household income? Yeah, so it's $57 a month after taxes and health insurance okay so he's making eighty thousand dollars a year and you've saved about twenty thousand dollars a year for five years right okay yeah how much house are you trying to get when the time comes it's like i'm not very picky like whatever we can get well that's you got to be a little bit more specific than that we're talking about prices and money so what do you think you're going to spend

um i'm not quite sure we've kind of said maybe we'll leave the state um but we just haven't made that decision yet you live in one of the most expensive real estate counties in the world. Yeah. And you make, you know, $75,000, $80,000 a year. And so that's what you've got to consider. I mean, L.A., San Jose, San Francisco, right? New York City, London, Tokyo. These are super expensive markets. San Diego is not far behind, right? And so, you know, not telling you to move, but, you know, you may reach a point that what you get paid, you can't afford to live there.

I mean, you can't, here's an example, okay? You can't make $50,000 a year and live in Manhattan and own your home, own your real estate, okay? It's not mathematically possible. So there are some things that you say, I can't afford to live there and have a house and have the dream that I want to do. And you're probably pretty close on this one. Listen, my sister-in-law was a teacher living in Los Angeles

and they decided that they moved to, first they moved to North Carolina and then they moved to North Florida because that's how they were going to afford the house but I do think that if you take some time and you guys do some research look at different areas look at different cities and states and really create a clear picture for what you want because I think that you could easily I don't feel like there's a clear target so you're not really aiming at anything clear it's just home ownership but if you make a clearer target I think that you could easily, I don't feel like there's a clear target. So you're not really aiming at anything clear. It's just home ownership. But if you make a clearer target, I think that you'll be more excited about saving that money and you'll be more intentional about actually getting to the

goal. Well, that's exactly true. That's very true. And you can start to make a decision about career path and, you know, where do we want, what part of, I mean, maybe, I don't know if a teacher that works in LA County has to technically live in LA County. That's true. You know, where do we want, what part of, I mean, maybe, I don't know if a teacher that works in L.A. County has to technically live in L.A. County. That's true. You know, how much of a commute can we stand, in other words, because L.A. is not unlike most other cities that the further you get out of town, in most directions, the cheaper the real estate. It's not unusual.

It's basic ring theory of urban growth and so you know drop a pebble in the center and as you go every ring you go out other than you hit a lake or you hit a mountain where the prices go up other than you hit a particular neighborhood that is known for its prestige but other than those things as you go out the rings generally speaking for most of you listening the further out in the country you get, the cheaper the property. I mean, it's a pretty simple concept. And I think most of us walking around know that. So you've got to decide that.

And then the other thing you decide is, do we want to live or can we make the life we want to make with the money we make in L.A. County? And if we can't, then you'll be one of those California refugees who ends up in another state. This is The Ramsey Show. Jade Walsh, our Ramsey personality, is my co-host today. Thank you for joining us, America. Open phones at 888-825-5225. Angie's in Salt Lake City, Utah.

Hi, Angie. Welcome to the Ramsey Show. Hi, Ramsey. Thank you so much for answering my call. I'm 33 years old. I just graduated from grad school last month. I decided to embark on this journey of school January 2022. I moved away from home, Florida, to Salt Lake City to pursue the sport of ice skating while I finished my grad school program.

I had the opportunity to just go to school and train while out there. I was not working. Early throughout the year, my father passed away and it shipped my entire world. He left some inheritance, which helped me live through and continue my journey out there and train my lease is now up and i didn't meet the goals or finish the projects i had in mind um now i'm stuck whether i should continue out here or move back to my parents home and recalibrate did you get the degree application um did you get the degree? I did. I got the degree. In what? In my master's in business administration. So why don't you go get a job? I am. I'm in the process of doing that right now. It's taking some time. Why? People are hiring everywhere. Say that again? People are hiring everywhere. You've got an MBA, for God's sakes. I know.

I'm in the process of that. Why is it a process? You should get a job. Right now. I am interviewing, exactly. Good. I'm interviewing right now. Where are you interviewing?

Goldman right now, Goldman Sachs. No, I'm talking about what cities? In Salt Lake City and Florida, Miami, Florida. Okay, good. uh goldman right now goldman sachs no i'm talking about what cities uh in salt lake city and florida miami florida okay good and what are that what are those positions pay right now the in salt lake city the the cost is a lot lower so they're not going more than 90 and okay so you're a 33 year old full-grown woman that's going to make $90,000 a year. Why would you even consider living with your mommy? I know. They just came there like, listen, you have $200,000 in student debt. Like, if you just want to come and recalibrate, but I just don't.

I think you've recalibrated enough. Yeah, yeah. Yes, my other option is whether to continue in Utah or move back to Florida due to the job market. You go wherever the job goes. Whoever's going to pay you the most money. Go get you some money and a life, girl. It's time.

It's time. Yeah. You can't bob and weave and duck anymore you get to face the whole thing now you can do it i could do it you can you can do it i hear someone that's more capable than she thinks she is thank you it hasn't uh been easy the past few past years. I'm grateful for the opportunity. Just thought that if I do stay out in Salt Lake City, I'm having the opportunity to, instead of paying rent, come back. No, it's not an opportunity. You're hiding because you're scared. What's messing with your confidence? What's messing with your confidence right now?

Yeah, really. My confidence is the fact that, you know, I haven't defined the income yet. I'm still in that process, but I know I'll get through. Yeah, but I wouldn't even put living with mommy on the table, hon. Not even an option. I want you to go out there and lift some things and grow your back muscles so you've got a strong back. Okay.

You can do this. You can do this. But you've had different things come at you, and I don't think Jade and I know the whole story. I think there's a whole bunch of stuff back there. And then the thing with your dad, and then you've been over there in Salt Lake City, and then you graduated and you went, oh, crap, I've really got to go do this now.

Yeah, yeah, that's what happened. And you do really got to go do this now. And here's the thing, you really can go do this. Getting an MBA is not an easy task. You just accomplished a big goal. Make a little mark on your little self-report card that says, I just accomplished a big goal make up make a little mark on your little self-report card that says i just did a big thing thank you thank you i forget most of the time due to the fact that i do i hate loans i hate that so it's just like having that that under my name is

just like when am i going to finally pay it off if i keep you're going to pay it off when you get a big old job and you work like a crazy girl and you get the stuff paid off. And let's reframe how we're viewing this debt. Like if you look at a pile of debt and all you feel is fearfulness and, oh my gosh, I did this and da, da, da, da, you've got to really refuel that and go and reframe that in your mind and say, this has got to be the fuel for the fire. Like I've got $200,000 of debt. I can't let it paralyze me. I've got to like lean into it and

go forward. Because if you keep having that kind of off balance and I'm scared of it feeling, you're going to just make minimum payments and find ways to put it off and put it off before you know it, you look up and it's a bigger pile. So really let this feeling, you getting those notices, this debt is due, let that fuel it. Do you understand what I'm saying? That's fueling your job search. That's fueling you moving to wherever the best job is. That's fueling you pouring as many payments and as much money into this as possible to get it paid off quickly.

Does that make sense? That makes sense, 100%. I don't want you running home. If you're my daughter, my daughter's not a lot younger than you, I would tell you the best thing you can do is strengthen your wings by flying. And you're capable of flying. You're capable of soaring. You've proven that by getting your MBA. Take some confidence from that.

Now go get a position. Get settled. Then go get a better position. Get settled. Then go get a better position. Get settled. And when you call me back, you're making $150,000, $200,000 a year, and you paid all this off, and, you know, you're 38 years old,

and you've slayed this dragon. And you can do it. You can do it. Do not try to hide anymore it's not serving you well go get them ronald is in naples florida hey ronald what's up hey how's it going uh thanks for having me on the show sure how can i help yeah i just had some just some advice questions i feel like i'm on the right, but I just wanted to hear it from somebody of stature, you know, other than my dad, who's, he's an investor, he's got the mindset, he's a business owner, but you know how hard it is for a son to hear something from their father and take it 100% to heart, especially about money and, uh, business decisions. But, um, well, I recently just had, um, my son, my very first son, um, he just turned one a couple of months ago and I'm just trying to build a, basically a package for him, you

know, for when he turns my age, he's got that cushion or that pillow behind him. I don't want to necessarily turn them into like, you know, waiting around for dad to die. So I get my money. Um, because that's the way I was raised. I had a cushion, but I still, you know, I work a full-time job. I work 50, 60, 70, 80 hours a week sometimes to accomplish my goals. But I just want to, I want to see if i'm on the right direction i think you need to teach your son just like your dad did you you teach him yeah he instilled a lot of good core values in me and i've had the same conversations with my dad i spoke to him two days ago and he said you know i'm i'm proud of what you're doing and you're

going in the right direction i just want to make sure I'm not missing any steps for my son. A big old pile of money is not what a grown young man needs. They need work ethic, integrity, honor, dignity. You instill those things in them, then they won't need money. They won't need money. And if you leave them money, then they'll take that money and do wonderful things with it if they have those character qualities. That's where legacy comes from.

Absolutely, yeah. And so much of that's going to be them watching you do those things. Yeah. It's hard to show them things like that, though, because a five-year-old, eight-year-old kid's not going to understand sitting and looking at a computer. Yeah, they do. They catch everything. Kids catch and absorb everything. You would be shocked and amazed.

More is caught than taught. Well, it is my first time. My friend's got kids, but this is my first time. Hey, I'm going to send you Rachel. Rachel and I did a book together called Smart Money, Smart Kids. How to teach kids how to handle money and how to work and how to give and how to save and how to spend. And it was a number one bestseller.

I'll send you a copy as my gift. And Ronald, you're a great dad. You're going to do good. Congratulations. This is The Ramsey Show. Jade Warshaw, Ramsey Personality, is my co-host today thank you for joining us america the ramsey show question of the day is brought to you by neighborly your hub for home services in case you're a new listener what does that mean exactly well neighborly is a family of locally operated

home service providers who are dedicated to giving homeowners excellent service. So start your search today at neighborly.com slash Ramsey. All right, today's question comes from Robert in Minnesota. He says, last year, against the wishes of her mother and I, my 18-year-old daughter signed a lease with an apartment complex. She committed to one year, but she never moved into the apartment. Fast forward a year later, and now she's getting calls from a collection agency to pay back around $9,000 for unpaid rent. She is currently going to college, has no assets, and no income. My wife and I are not willing to help her pay for this, but I'm trying to help her navigate her options. Any advice? Oh my goodness. I'm wondering why she never moved into it. Number one, here's the thing. She owes the money. Like she signed a

lease. She owes the money. The best you could try to do is maybe try to settle it for less, but she's going to have to pay this money back. She signed and said that she would commit to pay a certain amount of rent. They don't know or care whether or not she moved in or not. But because she occupied on paper that space, that's $9,000 of rent that that owner lost out on. So she owes it. And if you're her mom and dad, I feel like, Dave, you can ring in on this. This is where my brain goes.

She's got some options. Number one, man, I don't know, Dave. I don't know if I would pay it for her. No, I would not. But I mean, like, even like to help her. No. Because it's only going to get. No.

It's only going to get more. She's 18. She gets a job. Get a job and pay it. $9,000. I mean, come on. You can do it. It's a lot of money.

It's not a lot of money. I mean, just go. I'm just saying to not. Go Uber your little 18-year-old butt off. Seriously. Door dash yourself until you can't walk. Come on. Really.

9,000 bucks. Go clean it up, baby doll. Now, help her navigate it. That depends on how obstinate and rebellious this girl is. She obviously was obstinate and rebellious when she went against your wishes is that what you called it yeah your wishes you and your you and your wife said don't do this this is stupid so she lined up and signed up for stupid and now she's got nine thousand dollars of stupid and now if she's like dad i really screwed up and she's repentant right would

you help me with this? Yes, I'll help you. Here's what you're going to do. You're going to scoop dog poop. You're going to walk dogs. You're going to clip dog's hair. You're going to babysit kids. You're going to do door dash.

You're going to work all the time. You're not going to have a social life because you signed up for stupid and you get to cover it. And you can clean this up in oh let's just say a thousand dollars a month to be nine months two thousand dollars a month before and a half three thousand dollars a month to be three months so i think you should do it in about three months kiddo oh man i wonder why she never moved in like did she not realize that when she signed it that she's currently going to college. And who's paying for that? That's a question.

That's a question. And is this kid still in this? I don't know what the attitude of the kid. Because here's the thing. I don't help people who are continuing down the same path. I don't even coach them. True that. Okay.

Especially because it's not an act of love. It's an act of helicoptering. Here's what I wonder, though. love it's an act of helicoptering here's what i'm writing checks is an act of helicoptering and you know helicopters did you know helicopters create snowflakes that's where they come from that's good dave but here's what i'm wondering if here's what happened what if she was like mom dad i'm moving into an apartment and they're like we don't want you to do that she's 18 what if she doesn't realize like hey if you sign the lease like that's legally binding and so she was like oh my mom and dad don't want me to move in this apartment what she does realize is her mom and dad love her and they're smarter than she is unless you're a

rebellious little twit and then you go sign the thing anyway and you get to pay the stinking nine thousand dollars to that because you're a rebellious little twit and so you get to do it i mean guess what you know i know this because i was her i was the rebellious rebellious twit i've done everything stupid under the sun that can be done so i recognize these attitudes the question is for me and what we don't have the information we don't have here is the state her current state of yes repentance repentance meaning i realized i was wrong i'm sorry for that i goofed up would you help me absolutely i'll help you yeah i'm not gonna pay it but i'll absolutely coach you and show you and give you hope and i'll even talk to the people with you and stand beside you so they

don't beat up a little 18 year old kid anymore uh but if she's still like well i you know i didn't know what i know shut up you get to do the whole thing on your own then all right you just get to wallow out there and you're stupid if you're gonna if you're gonna still be a twit right but repentant is different you follow me yes i am i mean that that cause she's gonna learn this lesson if she's already learned the lesson and only has to pay the bill, that's the easy path. If she hasn't already learned the lesson, it's going to get painful before this is done. Oh, man. And, man, let her experience that pain at 18.

Otherwise, she's 38 years old and thinks that the world owes her a living after she got her degree in left-handed puppetry and she's a barista. Listen, Dave, you and I saw this on two different sides because you went straight to rebellious little twit which i didn't you you own that and i'm looking at this here here's what i'm looking at okay when i was 18 here's how dumb i was but i were sweet i did all right when i was 18 i was dumb enough to think okay i got student loans for school and you know if there's leftover, they give it back to you called a refund, right? They call it a refund.

It's not really a refund. You just borrowed too much money. But I took that money, and I thought that I was buying a car in cash, and I bought a car, quote, in cash with my student loan. That's how dumb I was. That's why I'm looking at this 18-year-old, and I'm like- Yeah, but was anybody looking at you that loved you and said, don't do that? No, because when I told them, I said, I saved up this money.

Well, no, I'm sorry, but if they had realized what you were doing and told you not to do that. They probably would have stopped me, yeah. If they told you not to do it and you went and did it anyway, then that's where we're sitting here. They said, don't do this. Right, but she may not have known that when she signed that lease, she was locked in. Come on. Dave, think back 60 years. It's, yeah.

Or 50 years. Thank you. But yeah, it doesn't matter. A lot of decades. It doesn't matter. No, I was already running businesses by then. So no, I knew what a lease was. Dave, you're smarter than the average bear, man.

I'm talking about these. But hey, mom and dad looked at you and said, don't do this. It's a dumb idea. That's enough. true Dave you're smarter than the average bear man I'm talking about these but uh but hey mom and dad looked at you and said don't do this it's a dumb idea that's enough that's true that's enough that's when you do full stop that's when you do full stop and if you don't then you get to eat nine thousand dollars worth of stupid so um I'm not saying she's currently rebellious I'm saying at that moment she was I think this wasn't a sweet little interaction it was against our wishes both he and his wife looked at their little daughter and said don't do this dumb don't do this and she said i'm doing it anyway oh man that's funny i don't i think she was like okay i won't do it and didn't know she did it anyway because if she was a

rebellious twit she would have moved in realized after two months she couldn't pay the rent and then left but i'm like she never moved in this is a mystery this is unsolved mysteries it's so fun you get to be the daughter and i get to be the dad that's the funny thing you're gonna take up for the poor little kid i know because my dad would have been like you my dad would have been like you're on your own now you know now you know how rachel was raised okay i'm just saying now we know this is how you create a rachel cruz right here okay oh my gosh open phones at 888-825-5225 yeah the trick is lovingly guide grown children and when they're 18 they can legally enter into a contract and if they choose not to take your loving guidance then you are under no obligation to fix their mistakes as a

matter of fact you would be making another mistake called enabling helicoptering to go and fix their mistakes regardless of the person's attitude so now i will always come along someone who admits that they made an error and says, ah, but now will you help me? I've always got a lot of mercy because I've been that guy, too. True that. True that. I need grace. I need lots of grace. And so I don't mind extending grace, but I'm not going to extend grace that says, oh, that was actually very smart when it wasn't. To the extent they don't learn the lesson. Right. Because it's not it's not helpful.

I get that. They don't they don't. You know, if you don't if you don't learn the lesson. Right, because it's not helpful. I get that. They don't, you know, if you don't learn the lesson, you get to do it again. If you flunk the test, you get to do it again. That is true, that is true. Then you just cycle stupid. Just a dog chasing its tail named stupid. I mean, you just cycle it.

I've done that too. Not as much. Most of the time I do something stupid, it's only once. And then I move on to another new stupid thing. But, wow. This is The Ramsey Show. Thank you.