The Ramsey Show - App - How Do I Talk to My Spouse About Money?

Episode Date: June 10, 2022

George Kamel & Rachel Cruze discuss: How to talk to your spouse about money, Paying off your mortgage as quickly as possible, LeBron James' billionaire status (and frugality), Dumb & Dumber and various 90s movies. Want a plan for your money? Find out where to start: https://bit.ly/3nInETX Listen to all The Ramsey Network podcasts: https://bit.ly/3GxiXm6

I'm out. From Ramsey Network, this is The Ramsey Show, where we help you get control of your money, get ahead in your career, and get on the path to living and being well. I'm George Campbell, your host, joined today by Rachel Cruz, best-selling author and host of The Rachel Cruz Show. We are here for you, America, taking your calls.

The number is 888-825-5225. That's 888-825-5225. Isaiah kicks us off in Maryland. Isaiah, welcome to The Ramsey Show. How are you doing? Hi. Thank you so much. What's going on? I'm so Hi. Thank you so much. What's going on?

I'm so excited. Thank you. I love it. I love the excitement. Glad you called. Thank you. And yeah, I have a... So the first thing is that English is my second language. Please bear with me and then I'll try to be quick. You're very patient. You're doing great.

Thank you. So yeah, I came here for a study and I learned English and I finished my MBA and married and stayed here. So yeah. Where are you from originally? I'm from Mongolia. Mongolia. Cool. Wonderful. Yeah. Yes. So how can we help you? Yeah. So before the marriage, of course, you know, I bought the car. I was going to take my car, you know, when I leave. I was going to take my car to my country. But, you know, however, I stayed here.

And then since I listened to the show, I paid off my car two and a half years early. Awesome. Yes. And I paid off my, no, right now I have my title and I wanted to put my husband's name in, but he's a little bit aware, you know. So that's all, you know, we can talk about the finance. And then also he wants me to get another credit card. So, you know, to keep, keep you know my score and something. Oh so

your husband you guys disagree on how to handle the finances he wants you to get a credit card is that the big issue right now? Yes you know of course you know we wanted to buy a house in like two or three years. Yes. So yeah, now right now we have we have you know, his debts. We have his student loan and his car and 401. What's the total debt

that you have? Around like 68 maybe. Okay. And is that mostly student loans? No, like 30% Okay. When I talk with him, you know, like how much do you have or like, you know, and he's a little bit aware and he doesn't want to talk. So he just shuts down.

Do you know why he doesn't want to talk. So he just shuts down. Do you know why he doesn't want to talk about the money? Well, you know, he said, you know, he used to work in the bank, the collection. So, you know, he knows, you know, how they work or something. So now he wants, you know, my credit score is good, you know, but I don't use it. I just have it. But my husband, you know, wants, you know, but I don't use it. I just have it.

But my husband, you know, wants to, you know, keep, you know. Yeah. So I think one of the. Keep my score and yeah. So one of the big kind of flags that I feel like I'm hearing. So, you know, we can go on the tactical money piece all day long. And George can even chime into that too. But, you know, you can buy a house without a credit score.

You can do manual underwriting. Like there's ways around all of this. But the biggest thing that I'm hearing from you is that you're trying to do one thing with your money and your husband's doing the opposite. And it's going to be really difficult for you guys to win long term with your money. And I think ultimately how much that starts to seep into your marriage. Because when you're not on the same page about anything big in life, I mean, this could be raising kids.

This could be about in-laws. This could be about money. There starts to become that wedge. And so one of the big things I would really, really encourage you to do is to figure out, okay, how can we get on the same page? How can I approach him in such a way that I'm not, you know, nagging or badgering, but I really am telling him, hey, as your wife, here's what I've seen. Here's kind of what I've learned. And I kind of, and I want to walk this path with you because I want to build wealth and I want to win with money.

And this is what I've realized is the fastest way to do that and, and see how he responds. And the, and the issue is though, if he responds like, well, sorry, I still want to do my thing. At that point, that's more of a marriage issue is what ends up happening where you guys can't, you know, play on the same team. And that's really what you what you guys want to get to. Yeah, he's saying like, you know, he used to work like the bank and he's from here. He's American. So he's from here. He's American. So he's from here. He's saying, you know, I don't understand the

systems or, you know. So he's trying to say, well, I get it and you don't. So you should listen to me. Well, Anna Baker is going to have a very different philosophy than we have at Ramsey. So it is. I mean, you honestly, these principles that you're learning is going to go very counter against everything

that he knows in his head logically as a banker. And so it may be a difficult sell, but I think that it's more than just, hey, I want to do this with money. It's just, hey, I want to be on the same team and work with you. And share with them, you know, here's how I feel. I don't feel safe. I don't feel

safe. I don't want to have more debt in our life. It's going to add more anxiety and stress to our marriage. I want us to have a great marriage. Here's my vision for what our future could look like. Here's how I want us to get there. Are you on board? And that could be a different conversation when it's coming from a place of, here's what I'm excited about for the future. And this is going to get us there the best, safest way. That could change his mind. And another thing I'll gift to you is Financial Peace University. I think if you guys watch the nine lessons in Financial Peace University, it will give you guys a shared language to talk about money.

He'll understand where you're coming from mentally when you go, this is why I want to become debt-free. This is why I want to buy a house this way. It'll change the way you guys communicate. So can I gift that to you as our gift? Yes, thank you so much. Awesome. Yeah. So hang on the line. Austin will pick up. It also comes with every dollar premium. And do you guys do a budget currently? I'm trying. I'm the seller. He's the spender. Ah, so he's the spender. So does he want more control over where the money's going? Or do you have a say in the matter? Well, we talked, you know, now we have, you know, on, you know, he's dead.

But I'm trying to tell him, you know, explaining the baby steps. But he said, you know, I can't, you know, work more than what he's doing right now. So I couldn't talk with him, you know, in my language. Yeah, that's tough. How long have you guys been married? Now, like, a year and a half now. A year and a half. Okay, so yeah, this is a...

Still fairly new. We're still getting, you know, there's communication barrier. There's the financial kind of component there. But I don't want to hit. Oh, I'm so sorry. No, go for it. And I want you to have the confidence, Uzair, that what you are leaning towards on how to handle your money, it's the right way. And I know that people think that we're so black and white here.

But I'm like, over 30 years, it's been proven that when you don't have debt, you have your income, you can invest it, you can give it, you can save it for a down payment, you can buy a home without a credit score. We don't have to live in this cycle of this culture that everyone else lives in. You don't have to. And so don't let him undermine you just because he's a banker, just because you're not from America and you're not speaking English, it's not your first language. That doesn't matter. The principles, regardless of where you're from

or what language you speak, are still the same principles. So be confident, be kind and respectful. But I would, I would push into this, Suzanne. It might be more of a marriage issue, okay? So remember that. Hang on the line. We're going to get you one year of Ramsey Plus,

which includes the Financial Peace University videos and every dollar premium. Hope it's helpful on this journey. Thank you so much for the call. This is The Ramsey Show. Folks, listen up. I know some of y'all are putting off getting life insurance because rates went up, restrictions were added due to COVID, but it doesn't change your responsibility to take care of your family.

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Give us a call, 888-825-5225. We want to help you take the right next step in your financial journey. Jose joins us up next in Salt Lake City. Jose, welcome to the show. Hello, guys. How are you? Just happy to be here. Awesome.

What's going on with you? Excellent. Just happy that I'm in the English as second language theme hour. I love it. How can we help? Yeah, so my question

goes through about my mortgage. Fortunately, my wife and I have managed to be in Davis test 4, 5, and 6. We already completed state 4, 5, and 6. Awesome. We are already completed for Step 4, so we're investing 15%. And we are working towards, in January,

to start putting away money for our kids' college and our mortgage. So our plan is to start putting $1,000 towards a mortgage. And I did an amortaging table with my mortgage company, and they said that it was going to be somewhere around 15 years to get rid of the mortgage. And then I also put $1,000 in an investment calculator, and it says that investing in a mutual fund for 10% in 10 years, I should be able to cash up and just pay a lump sum on whatever is left on my mortgage.

So I wanted to know your opinion on which route should I go. I love it. Well, it's a great question, and it's one we do get. You're saying, am I better off investing that money instead of putting it towards the house? It's going to the house in one point. But it's going to take me five years shorter if I invest the money instead of just putting it directly to the mortgage. So the investment calculator is – it's hoping. There's no guarantee that you're going to get the 10% rate of return every year.

That amortization schedule, if you put $1,000 on that mortgage, it will go away at that point. And so one is kind of aspirational, could happen. The other one is guaranteed, and it reduces your risk, and it reduces the interest that you're paying. And so I like the idea of paying off your mortgage faster while investing 15%. A lot of people think, well, Ramsey, you should be investing that much. Listen, I was investing the whole time we were paying extra on the mortgage. We're going to be just fine. But now without a mortgage payment, we can invest way more.

What's your mortgage payment, Jose? It's about $1,600. Boom. So I like the idea of you guys really attacking this mortgage, freeing up that $1,600 that can then really set you up for success long term. Yep. What do you think, Rachel? Yeah, well, I mean, and I see the math that you're doing, Jose, but also what George said,

you're not calculating in risk because what if you were supposed to pay off your mortgage in 2022 from what you and you were about to pull the money and you're like, oh, the market's down. I've lost so much. Oh, my gosh. So so the point there is that, yes, mathematically, I understand where you're going, but also mathematically think if I'm putting extra on the principle of the mortgage, then I'm gonna be paying less and less like what you're saying on interest, which will help you

even write, get it paid off even faster. And to Jose, when it comes to money, again, people go straight to the math, which I understand why, but, but there's also other elements here when it comes to money. So there's an emotional element and seeing your mortgage continue to tick down and tick down and tick down and knowing that it's going to be absolutely paid off and watching that process and going through that process. There is something emotional there that an investing calculator is not going to give you. And we say around here that personal finance is 80 behavior it's only 20 head knowledge and you're going at this more like 80 head knowledge and a little bit of behavior so i kind of want you to even flip the script to say okay what if mathematically it's so wise to throw money at the mortgage because again your principal's gonna be going down um and your

mortgage is gonna be going down but uh but also there's something where you see the light at the end of the tunnel and you know I'm going to have no payments. And what George said too, when you don't have a mortgage, you can throw all of that towards investing as well. Are you sold, Jose? Am I what? Yeah, definitely. Definitely do it.

I've been listening to you guys for four years, so I kind of knew that that was going to be the answer, but I just wanted to hear the reasoning behind it. Absolutely. Call us when you're debt-free and tell us if you regret it. How's that? That probably won't happen. Oh, come on. Oh, Jose! Come on, man. Have some hope. You got this, buddy.

Here's the other thing, Rachel, that people don't really talk about when it comes to this piece. There's a forced savings plan when you put that money into your house. And people think, well, the money's there. It's in the equity of the house. When you sell it, you have that money. The problem with investing it is you're doing it and it's a taxable account. This is not retirement investing, so you're going to pay taxes on it. And when you see a pile of money, you go,

man, we could really do some home renovations. Could use an upgrade on the car. That's a vacation right there point there's no guarantee you're going to put that towards the house because life happens yep exactly when you have that pile of money yes you might be second guessing what you're going to do with it even though you've had it stocked away for a day and people do that idea even with purchasing something right like you're saving up i've heard so many people say this saving up for like a really great car or whatever it is and they're like I have that huge pile of money and I don't want to spend it all on a car. And I'm going to choose a different one. So it is amazing what happens.

So keeping that plan in place and just, yes, throwing it at the mortgage and not really depending on the market and the growth there. Oh, yeah. It's big. All right. Elizabeth joins us up next in San Francisco. Elizabeth, welcome to the show. Hello. Thank you for. All right. Elizabeth joins us up next in San Francisco. Elizabeth, welcome to the show. Hello. Thank you for taking my call.

Absolutely. So I have a rental property, and we have a home as well, and a bunch of debt, and some pensions, and 401ks. And the reason I'm calling you today is because I'm trying to figure out what order to do all of this in and I'm familiar with the baby steps but I'm just a little bit overwhelmed and I got an estimated proceeds for what we're going to get for the condo for $168,845 Can I throw some numbers at you? Yes, absolutely. Okay, great. So we have a 401k

loan for $9,300. We've got credit cards totaling $16,000. We have another 401k loan for $25,800. That all totals around $81,000 total. And then we have a $200,000 open equity line with a current balance of $27,000. And my husband is an electrician. Do you want what he grosses or what he nets? Because some of it goes into pension and different things. You can give us the net. Okay, so he nets $2,800 a week. Okay.

And, oh, sorry, we have a $68,000 pension plan, which is like his little 401K, and a $200,000 pension plan. $230,000 pension. And you said you're selling, this is the condo, your rental, you're selling it? Yeah, we're selling it. I mean, I have mixed feelings about that, but... But you're doing it to get out of debt? Yeah. We're doing it, in all honesty, we're doing it because my husband makes a lot of money, but for the last three weeks, he was out of work, and it made us realize how we are on thin ice, and we really do need to clean up.

Yes. And he's fine. Everything is fine. We're running out of time, Elizabeth. With the proceeds of the condo, how much debt could you knock out? Oh, and my father-in-law, $150,000. He is not in a hurry to get back. Oh, my goodness. Yeah.

All right. Okay, hey. So, Elizabeth, if you were to sell the condo tomorrow, how much cash would you have from it? $168,000. Would that knock out all of your debt other than the father personal loan? Almost. Okay. Well, that's going to be my game plan.

I would sell that tomorrow, Elizabeth. I would sell that tomorrow. Pay off everything. Those 401K loans need to go first. IRS and 401K, you want those out first. You don't have IRS debt, but the 401K. And then start attacking that. Yeah. Pay off that credit card. Pay off that bank loan.

Get rid of the HELOC. No more. We've got to stop playing games. And change your habits. Change your habits. This is going to be like a little wand over all of this, which is amazing and a gift. But stop doing what you guys were doing to get yourself in this mess. You guys got this. This sounds stressful and I'm not even involved.

I lost my breath. You got it though. You got it. But you can do this. This condo sale is your knight in this mess. You guys got this. This sounds stressful and I'm not even involved. I lost my breath. You got it though. You got it. But you can do this. This condo sale is your knight in shining armor. So use it to your advantage. Get rid of debt. Never look back. No more HELOCs. No more personal loans. Borrowing money from family. Ugh. Yikes. And then we're focusing on paying dad back. Oh boy.

This is The Ramsey Show. I'm George Campbell, joined by Rachel Cruz. We are here for you, America. And in the lobby of Ramsey Solutions on the debt-free stage, Kenneth and Lois are with us from Fremont, California. How are you guys? We are well, thank you. You made the trip all the way from the Bay Area to be with us today.

Yes, thank you for having us. What a journey. So tell us about this. How much have you paid off? So we paid off $246,552. Choreographed, look at that. Look at that. Look at that. $246,000.

Wow. Okay. How long did this take? It took us 25 months. 25 months? Yes. Okay. Wow.

What was your range of income during that time? So we netted $140,000 to $160,000, and our gross was about $180,000 to $220,000 and came back down to $200,000. Wow. What do you guys do for a and came back down to 200. Wow. What do you guys do for a living? I'm a teacher. Yes. And I'm a nurse.

I'm a clinical nurse specialist. And I also train nurses. I precept advanced practice nursing students. Wow. Wonderful. Where are you guys from originally? We are from Kenya. Kenya.

Wonderful. Actually, I kind of knew that. We spoke right before the break. I had her teach me some cool Kenyan phrases. I know. Do you remember them, George? Because I was so excited. Do you remember them, George?

Of course. Moments ago. Wow. What a story here. That's amazing, you guys. The numbers here are jarring. This is wild. So what kind of debt was the 246?

Car loans. Everything. So credit cards, student loans. We had family loans, friends loans. We were just... You were getting money from whoever would give it to you. Yes. Oh my goodness. All this. So how long have you been in America now? This is the 15th year. 15th year. Yeah. So did you get here and you were like, let's do this. Welcome to America. Let's get some debt. Yes. They told us there's free money. They give you cards and you were like, let's do this. Welcome to America. Let's get some debt. Yes. They told us there's free money.

They give you cards and you can just swipe. Is that real? They said, here's a card. It's free money. Have fun. That's what it feels like, a credit card. Yeah. Yeah.

And you feel like this is the best place ever. Okay. So what happened 25 months ago to start this journey? Yeah. So I'll start. It started five years ago. We were building a house for my mother in Africa, and we were not using any budget. We were just spending, using credit cards from any store that they gave us.

And we were using our money to build and also to help other people that needed help. And then three years ago, we moved up a house where we live is very expensive. So the apartment cost was going up $200 or $250 every year. We decided we are done with apartment, we are going to a house and the house was $4,000 a month. And the apartment was $3,800. So we thought we made the right decision to go to a three-bedroom house at that time. By the way, $4,000 where we live is just a small three-bedroom house. So then a friend would come by and say something about Ramsey. We don't know what thing that was.

But we said, okay, something like that. Okay. Then two years ago, a friend invited us to FPU class that was being done at the nearby school, church school. And I went with her. I did not know I was going to meet that Ramsey there. So the first class and then the second class did me in. Wow. I went and told my husband, you have to come to this. And he was not coming.

He was reluctant to his story. So at first I was not interested. I was not interested. And then eventually I decided to join her to these meetings. So when I watched those videos, I was so interested and then we made up our minds to make a decision.

We had separate accounts before, so we decided to have joint accounts. Wow. Yeah. We were borrowing from each other, actually. When he's broke, he asked me to give him some money. And when I'm broke,

I'm asking him if another bill is coming. Wow. The other thing we wanted to say is that they told us we need to build our credit. So when we started, we had like 750 credit. When we ended up with 10 credit cards, in fact, there were 12, two more from every store. Sometimes we'd forget to pay one bill or another and our credit started going down. So we ended up with $669 and

that was the end of it. When we did FPU we thought oh, so it's okay not to have credit cards. We can live without them. And student loans that we were paying just minimum, we decided we will just go all the way.

You guys are amazing. What a transformation. You are amazing. Coming here 15 years ago and making an incredible income. And sure, not knowing, right? You kind of just fall into the American way because what you just described is so normal. So normal. That is how a majority of people do life with their money.

And you made a decision where you were like, oh, I'm done. So what were you guys feeling kind of before? Because you're the one that went to the class originally. So were you not happy with where you guys were financially? Were you stressed? Or were you kind of like, oh, I'm okay. I'm going to just still go with my friends. What were kind of your emotions leading into it?

I'll start since it's me who started. Yeah. We were very stressed out. We were not talking about money apart from when we were trying to borrow from each other. And we were saying, no, we are not going to do this. And we would pray together and trust that God will do something. It will be okay. But we didn't know what to do.

We were just living horrible like that, paycheck to paycheck. So this was a blessing that my friend, Kathy, invited me to FPU, and my eyes were open. That's so cool. Give it to my husband. Yeah, so it was a lot of stress. It was a lot of stress. We could not make it.

We could not be able to provide for all that we wanted. But now we have a relief and just a peace of mind. You're amazing. And your shirts tell the story. Set free. Yeah, set free. By choice. We were in bondage, slavery.

Wow. The borrower slaved to the lender. You guys figured that out. So, yeah. So how does it feel now slaved to the lender. You guys figured that out. So yeah, so how does it feel now standing on the stage with all that paid off? A sense of relief.

And it's a dream come true. We feel like this whole rock on our back is taken away. Our marriage is better. Now we can talk about money openly.

And you're not just bank accounts to each other. Yes. You're way more than that. You're partners. That's right. So how did you do this because I'm looking at the numbers

I'm going they paid off 123ish a year making 141 how did you do this did you sell something yes so what we decided

we decided to downsize because we're living in a very expensive house so we decided to downsize and go to an apartment one bedroom

so a little bedroom one bedroom apartment and with how many people? four of us our children have a story to tell but they were very willing to help us with this they actually decided to go to Africa for a while so we can save this

huge private school bill that we were paying here there's a life hack, send your kids to Africa for school while so we can save this huge private school bill that we were paying here. Wow. There's a life hack. Send your kids to Africa for school to save some money. Yeah, that works perfectly. That is a huge sacrifice, though. You guys, for how long was that?

They did it for six months. They came back in January of this year. Wow. It's amazing. Well, can you bring them up on the stage and tell us their names and ages? Yes. So Isaac is 13 and Sarah is 12. Wow.

Isaac and 13. Y'all did this together as a family. Literally. Yeah. That's so cool. You all made decisions together as a family to do this. Incredible. Absolutely incredible.

So tell us, what is the key to getting out of debt? You want to start? Yeah. You understand? Yeah, I'll say one is to stay focused and to give. Tithe was very important for us. Yeah, giving to God. And then budget. And to have discipline and to deny ourself and work hard. Beautiful.

I love it. Well, speaking of generosity, we've got some things for you. A copy of Baby Steps Millionaires, Dave's number one bestselling book. That's your next chapter. A copy of the Total Money Makeover you can give to someone else to kickstart their journey. And one year of Ramsey Plus, including all the Financial Peace University lessons that changed your life. Every dollar premium, you can pass that on or you can go through it as a family to keep you inspired on the journey. You guys ready to do this? Yes. Okay, it's Kenneth and Lois and Isaac and Sarah from Fremont, California. $246,552 paid off in 25 months, making $180,000 to $220,000. Count it down. Let's hear a debt-free scream.

Three, two, one. We are debt-free! And the crowd goes wild. My face hurts from smiling so hard. They're just a beautiful, joyous family. Everyone out there that's like, I can't do it, I can't do it, listen to them. Shut up. Listen to them. You can do it.

That's amazing. Oh, incredible. Set free. That is the theme of this hour. And you can be free to America. You can do this. You just got to follow a plan, commit to it. This is The Ramsey Show.

I'm Ramsey personality, George Camel, joined today by Rachel Cruz. We're taking your calls, 888-825-5225. All right, Rachel. So I've been following some news, but not the kind you think. I like to follow sports news because I'm known for my sports knowledge. I already talked about inflation and the recession. This is different. Hard news.

No, this is different. These are two of your favorite things. Sports and money collide. This has been the hot article. Go sports. This is from CBS News. LeBron James. Nope. I know who LeBron is. You ready been the hot article. Go sports. This is from CBS News. LeBron James. Nope.

I know who LeBron is. You ready for this? Yes. LeBron James is officially a billionaire. Really? 37 years old. Okay. Can we do a quick timeout just so all of us that are like me listening can get our minds

around this? It's not just from playing basketball. This is endorsements. Oh, yeah. There's all kinds of deals, sponsorships, you name it. Just to make sure. Not just his NBA salary. Eight-time NBA All-Star, four-time NBA champ, two-time Olympic gold medalist, hit another milestone doing something no other NBA player has ever done.

Wow. After another monster year of earnings totaling $121.2 million before taxes and agent's fees over the last 12 months. Forbes estimates he's officially become a billionaire while still playing hoops. 37-year-old superstar has a net worth of $1 billion. And he said, this is a quote from him, it's my biggest milestone. Obviously, I want to maximize my business. And he's done just that. He's commanded more than a $385 million salary from the Cavaliers, Miami Heat, and Lakers, and as the NBA's highest paid active player.

And off the court, to your point, Rachel, he's raked in upwards of $900 million in income from endorsements and other business ventures. So he's a very smart businessman on top of being an incredible athlete. Yes, very similar. So here's the funny thing, though. This isn't just why I wanted to talk about this. Yes, he's a billionaire. That's an amazing milestone, and it's 1,000 millions for those of you that need to get that picture in your head.

You have 1,000 million. But my favorite thing about this story is that he is known as the cheapest player in the NBA. He's extremely frugal. I want to play a quick clip that our team found to really illustrate the point. You ready? I'm ready. I can't wait. Who is the cheapest guy in the NBA? Who is it? And Dwayne Wade says

LeBron James. That is so so so so falsely true. That is so falsely true. That is so falsely true. He's using his phone with me. I'm not turning on data roaming. I'm not buying no apps. I still got Pandora with commercials.

You know you're rich, right? I'm not paying for it. I'm not paying. I love it. So that was LeBron James himself, for those of you wondering, talking about how cheap he is. And I love that he said it's so, so falsely true. It's so true. He needs Wi-Fi. He's so, so falsely true. It's so true. He needs Wi-Fi.

He's not going to go. Now, let's be clear. LeBron James is not living in a shack. He's got a nice house, and I'm sure he's got nice cars. He's done really well. But it's amazing to me the things that he goes, I'm not paying three bucks for that.

I'm not doing that. I'm not paying for that subscription, Pandora. I'll have some commercials. Hey, do you know who else is not a billionaire but listens to Pandora with commercials? Rachel Cruz. Me'll have some commercials. Yes. Hey, do you know who else is not a billionaire but listens to Pandora with commercials? Rachel Cruz. Me. That's true.

We were sitting and I was like, Rachel, what are you doing playing Pandora? There's an ad? Do you not have Spotify? Who are you? Basically just, I'm basically like LeBron. That is so funny. That just means you're on your way to becoming a billionaire. And no apps either.

Now, here's the thing. I love that. No paying for apps. Yeah. Yes. I want to make it clear. LeBron James is not a cheapskate. In fact, here's the thing. I love that. No, like, paying for apps. Yeah. Yes. I want to make it clear. LeBron James is not a cheapskate. In fact, he's very, very generous.

And that's the, there's maybe a connection there. Maybe you can speak to this. He, this is another article from CBS News. LeBron says he'll open a multi-million dollar medical facility in his Ohio hometown. He's built the I Promise School in his hometown of Ohio. He's sending 20, he's pledged to send 2,300 students to college debt-free through scholarships. Amazing. So to me, I just go, this guy has a plan for his money. He's got a vision for where he wants it to go. And while he doesn't care about the $3 Pandora subscription, he's spending his money where he

wants to spend it. And I respect that. Absolutely. Yeah, because it's not the Pandora subscription, he's spending his money where he wants to spend it. And I respect that. Absolutely. Yeah, because it's not the Pandora thing. You know, the Pandora subscription is going to make you a billionaire, right? That's not. That is not it. But it's a mindset, too, of seeing like, okay, what's wasteful, what's not. And it's the same ways of looking at life that really could lead you. Because, I mean, that kind of stuff could play into his business deals where he's like,

where are we? What am I doing? Right? Like, it's that same thought process that really can make you, because I mean, that kind of stuff could play into his business deals, where he's like, where are we? What am I doing? Right? It's that same thought process that really can make you become successful. It's wisdom. It's just wisdom with money and where your values lie. LeBron has to find Wi-Fi. I know.

Here's the thing, Rachel. Won't use data. Can I be honest with you? That's the one that's funny. I waited 20 years for Space Jam 2, and I was so disappointed with how it turned out. And that's partially LeBron's fault but I've gained newfound respect

for him after this whole thing. Oh man. LeBron. Well done. So he ruined the Space Jam franchise but he brought it back

with his generosity. Do you know what is so weird and I'm not kidding I don't know what's happening right now but do you know we do a movie night with our kids

on most Friday nights from home. We do 90s movies. So Dunstan Checks In, Dennis the Menace, Blank Check, Richie Rich. Like we go through

all the 90s movies because we're like, kids, you've got to watch these. I love that. Jumanji was a little scary in the trailer, so we decided not to do Jumanji. But do you literally,

do you know what we're watching tonight? Space Jam. Yes. The original. Oh yeah, oh yeah, yeah, yeah. Michael Jordan. Michael Jordan. Like with Looney Tunes, all that. One of my favorite movies of all time. Because my kids Jordan like with Looney Tunes all that

one of my favorite movies of all time because my kids don't know Looney Tunes like Bugs Bunny she's like Millie was like oh is that the guy

that eats the carrot besides the WB logo and I was like yeah because Free Willy he's on Free that's hilarious so like all of this is happening

train up a child in the way they should go Rachel and Michael Jordan Space Jam so LeBron I'm happy for you. I might pop by the cruise house just to be a part of this moment. Eric, can we keep going with this topic?

Okay, okay. So, George. James is going, we can't stop you. So, here's another 90s movie that I quoted on the road when we had our Building Wealth event. There was a Samsonite suitcase, and I made a comment about Samsonite. I made a joke about it. George had no idea what I was talking about. He was like, I don't get it.

I was like, well, yeah, from the movie. And he was like, what movie? I was like, Dumb and Dumber. George said. Never seen it. And I said, what? I said, that is my husband's favorite movie. Fast forward two weeks ago.

I don't even know what's being talked about. He quotes Dumb and Dumber as he does like every week it's just like the the movie quote always in our marriage and i said do you know george has not seen dumb and dumber winston said george campbell's not seen dumb and dumber next thing i know george campbell is driving to our house when sir rinse or i don't know we actually use your hbo subscription. That's right. That's how frugal I am. And we watched George. With George, me, and Winston, we watched Dumb and Dumber. It was a night.

Listen, when you get a text from Winston Cruz that's like, hey, come over tonight. We're watching Dumb and Dumber. You can't say no to that. You clear your schedule. You move mountains. Heaven and earth. And Whitney was out of town. We wanted Whitney to come.

To be clear. So, 90s movies. Yep. It's an important thing that you need to dive into. So, all you Gen Zers out there that haven't seen those 90s movies. To be clear, I'm not Gen Z. I just had a strange childhood, I guess. I guess so.

I grew up Arabic Baptist. We were watching like Veggie Tales, Adventures in Odyssey. We weren't allowed to watch that kind of filth. Really? You know, at the Ramsey household, that is one thing mom and dad were not strict parents on they were strict in some way you could watch we could watch what literally what everyone except for two movies can you say them on air i can or two two things rugrats we were never allowed to watch okay because because the kids are in charge that's what he would always say so dave didn't like that it portrayed in a world where the kids rule.

Yeah, the kids, yes. Hated that. And then Fern Gully. Hold on. Couldn't watch Fern Gully. Wait, is it because of the climate change agenda? I don't know. I'm not going to go down that path.

That is hilarious. I'm not going to go down that path. Dave's like, it's capitalism. They're cutting it down to make paper, Rachel. It's how the world works. Get over it. So in the 90s, Rugrats and Fern Gully, we were not. But everything else, Forrest Gump, Titanic, anything. Wow. rachel that's how the world works get over it so in the 90s regrets of fern gully we were not but

everything else forrest gump titan anything we watched y'all like yeah and mom and dad didn't care this is great content listen if you came here you may not care about any financial advice and life change you came to the wrong place i'm sorry we'll move on for this segment i'm sorry there's no time to move on the show's over rachel we can't take a call quick No, we can't take a call quick, but we can circle back to LeBron. If you were a billionaire, what were things that you would still... How would you be LeBron? How would you be LeBron? I would still coupon.

And I know Sharon Ramsey, kindred spirits, Sharon Ramsey and I, because we both are big fans of being intentional. Is this the best deal? Is there a deal to be had? Can I use a coupon, a promo code? Whatever it is, I'm doing it. It's good. Regardless of how much money I have.

Regardless of how much money you have. Someone made fun of me because of how frugal I was. They're like, George, you have a paid for house. Why are you? And I was like, you're never too rich to get a great deal. That's right. That's how I feel. That's a great line.

Thank you. I'm glad we're ending with that. And I'm not rich. I mean, by American standards, sure. By the world standards. For my net worth standpoint, George, you American standards, sure. By the world standards. For a minute, we're at the same point. George, you paid off your house. Thank you, Rachel.

Well, listen, we're on our way to becoming billionaires with our intentionality. Thanks, LeBron. Thank you. For following in your footsteps. Good job, LeBron. We're proud of you, man. Way to go. What a milestone.

As if we're friends. Like, he's going to text me later. Anyways, that puts this hour of The Ramsey Show in the books, which many of you are thankful for. We'll be back with you before you know it. Do you love a good Dave rant? Want to see the latest Ramsey Show videos going viral? Check out your favorite moments from the Ramsey Show on YouTube.

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