The Ramsey Show - App - How To Know When It's Time To Look For A New Job (Hour 2)

Episode Date: October 27, 2022

Dave Ramsey & Ken Coleman discuss: What to do when your co-workers don't have your same work ethic, How to leverage your relationship capitol to get to your dream job, Why it's ok to pause the Baby Steps when navigating big life events, How not taking "no" for an answer can be key to getting out of debt, How to write an honest, but professional, resignation letter, How to know when it's time to sell a rental property. Have a question for the show? Call 888-825-5225 Weekdays from 2-5pm ET 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 Learn more about your ad choices. https://www.megaphone.fm/adchoices Ramsey Solutions Privacy Policy

Live from the headquarters of Ramsey Solutions, broadcasting from the pods moving in storage studio, 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. We help people build wealth, do work that they love, and create actual amazing relationships. This is a show about you and your life. Ken Coleman, Ramsey personality, number one best-selling author, host of The Ken Coleman Show, is my co-host today. Cindy starts this hour in Dallas, Texas. Hey, Cindy, how are you?

I'm just fine, thank you. My situation is I am 61 years old. I'm in a job. I've been with this company for 12 years. I want to change jobs. I need to work with people that care about their job, that come to their work and do the work and know what they're expected to do and do it. My endogram that you talked about, I'm a moral perfectionist, loyal guardian, and I also did Ken Coleman's assessment. My talent is inspection, instruction, execution. My passion is leading, finishing, analyzing, and my mission is achievement. I want to change jobs, but my friends and family are telling me I should not. Because of my age, I need to stay put because it's going to be hard for me to find a job. And I have applied for jobs and I don't even get an interview now when I used to get lots of interviews. I mean, I have stellar work history

and I just been stuck. Sure. Okay. So before we get into the applying process and what frustrating results you're dealing with there, I'm just curious. I heard some things on you that I've heard before, and I'm just curious what you would say is the number one and maybe two reasons why you want to leave this company. Give me the quick version. Okay, because the people, they don't come to work. It's an office. It's a professional business.

I mean, they call in. I mean, they don't want to work. I mean, they sleep at their desk. All right, let me ask you this. I'm a worker. I know. I can tell. Are you leading those people, or are these coworkers?

Well, they were coworkers, but our manager left. They moved me into the management position, and I asked to be moved back because I just couldn't. I mean, I want people to know what their job is, do their job, be able to do their job, be capable of doing their job, and then do your job. I get it. So I'm back, and I'm not in management anymore. Got it. Okay. Now let's remove that frustration from our conversation just for a moment. Let's just put it over to the side.

Do you love what you're doing? Do you like what you're doing? Forget the frustration. I love my work and I love our clients. All right. So a couple of things I want you to consider. I'm not in any way telling you not to look elsewhere. However, your Enneagram that you shared with us is really at the source. Your wiring is at the source of your frustration,

that moralist. And what's happened, I know, I know, and I get it. And I want to try to set you free from it because you had the opportunity to do something about it when you were in management, but you walked away from it, not getting on you about it, not judging you. But you had as a manager, theoretically, if you had support above you, to fire and get rid of some of those people or to mentor them and see what motivates them. You had your chance there. But now that you're back, if you want to stay where you are because you love the work and you're 61 and you're having a hard time looking out and seeing other 61 and you're having a hard time looking out you know and seeing other opportunities you've got to get to the point where you go i'm

responsible for my work and i am their co-worker not their mom i am their co-worker not their aunt i am their co-worker not their leader and you've got to decide because what i'm hearing here jury and execution that's right it's not your call and so the source of all of your tension and frustration is you looking at everybody else sloughing off slacking i get it i get it i get the frustration it affects it affects my work only okay all right that was my next question how much is it affecting your ability to do your job now this is the question not how much is it affecting your ability to do your job now this is the question not how much is it affecting your ability to focus on your job

because i think you're focused on them and giving them too much power but how much is it affecting your ability see that's what the giggle is how much is it affecting your ability to actually actually execute on your work? 5%, 10%? Maybe 10%. I don't know. It's just when there's errors made, I'm the one that has to deal with our customers. Okay. Have you taken this to your leader to say, hey, I'm crushing it, but I'm having to deal with it? They're afraid. They don't want to lose anybody because we've already had a lot of people leave. And that's what's going on because we've already had a lot of people leave and that's what's going on right now we have a lot of leaders right now that are afraid to fire anybody because of this big gap we have those aren't leaders those are wusses that's exactly

right you can't control that so what you have to decide here is wait a second what what is best for me cindy because if i love my work can i at the age of 61 with a lot of maturity and a lot of work ethic can i allow this stuff to bounce off of me or is it no longer tenable i can't do this any longer that's what i really want to know i think you go get a new job i think so too but i also go so walk her through walk her through the application all right well i wanted to challenge you because i i don't think it's as bad as you're making it out to be. But here's the thing. If you've got to get noticed in today's world, it's not by applying online. Because even small businesses are using softwares and they're weeding people out. You're 61, which means you have at least four decades of relationships and connections.

And you have got to shake the tree. You've got to get out there and go, hey, I'm looking to move on. Here's specifically what I'm looking to move on. Here's specifically what I'm looking for. And it is relationships that will get you in the door because they go, let me tell you about Cindy. Cindy's amazing. But if you just apply and some people may see your age, they may not, but you may not even get your resume looked at. So this is all about the proximity principle. I wrote a book that details this in great detail. I'll give it to you. We'll give it to you when we put you on hold.

But this is about you leveraging your relationship capital. Do you understand what I'm saying? Yes. Yeah, I think you have a distinct marketplace advantage because you actually know how to work. And you're mature. No question. You actually know how to work.

Yeah. I mean, we've got a whole group of people out there that honestly, somebody just needs to set their butt on fire. I mean, really, seriously. Just freaking lazy. Quiet quitting will get you nothing. I'm telling you, man. If you aim at mediocrity and you think playing Call of Duty four hours a day

while you're supposed to be doing work from home is a good idea, you're going to be nothing in your life, and you're going to deserve every bit of that yeah so you know we if you have the ability to to set to light yourself on fire to get up leave the cave kill something drag it home you want to be somebody you want to be great you want some greatness in your life you want to throw your shoulders back and howl at the moon and cause some stuff to happen like cindy does you are an absolute rock star in America today. That's right. I mean, if you actually, what she's saying is the bar is so freaking low,

if you show up at work and work while you're at work, you stand out. I mean, that's how easy it is out there right now in the land of stupid. Just show up at work and work while you're at work. Aim at some greatness. Be somebody. Cindy, I think you need to get a new job. I think you work with doofuses. Hold on.

We're going to send you a copy of Ken's book, Proximity Principle, so you can find some good people to work with. Ken Coleman Ramsey personality is my co-host today it's launch week for our brand new gazelle debit card this is the debit card will help you spend and save the Ramsey way. The Gazelle debit card works the same as your standard debit card with the same FDIC protections. The same fraud protection from MasterCard is backed up by an FDIC bank. It is made for you, which means we will not fee you to death. Some of these cards have more fees on them than a French poodle. Fee, fee, fee, fee, fee, fee. And check it out.

This doesn't. So we won't sell your personal information we won't try to get debt push up pushed on you we won't run a commercial with sweet little people and then try to run you into 22 debt like sofi we actually are just gonna have a debit card that works and stuff wow go to ramsey solutions.com tens of thousands of people have already gotten their Gazelle card. We just launched it Monday. It's going crazy.

I love it. I'm so proud of our team. And by the way, it is the coolest looking debit card on the planet. I was going to say something. So here's all the things that Dave just said as a reason why you should get it. I'm going to add one more. It makes you look cool when you use it. Well, I'm going to go a step above that.

You get a chance to talk about financial peace and the Ramsey way and how you've changed your life. I'll tell you why. It looks so stinking cool, to your point, that when you flash that out, you know, and the grocery line, two or three people behind you, I'm telling you people will say, hey, what is that? I think it really is an ambassador card as well. I would throw that on top of all the other reasons because I've never seen a debit card look anywhere close to that cool.

I mean, that gazelle on there is... He's a bad boy. If we were ever going to have a sports team, that would be our mascot. Who? Which we're not. The mascot for Financial Peace University. We're the gazelles. Yeah, that would be our softball team name. Yeah, it's really cool. It's our football team. We're the gazelles that would be our softball team name yeah it's really cool it's our football

team we're the gazelles yeah uh ramsey solutions.com slash gazelle and you can get started today hannah is with us in detroit hey hannah what's up hi dave how are you i can't believe i got on the air i'm so excited well we're honored to have you how How can we help? Hopefully I can articulate my thoughts well, but so my situation is that my husband and I are expecting our first baby in about four weeks. I'm the one that really runs the finances. He's the one who makes the majority of our income. I work really hard every year to try to keep us out of debt, but once the holidays roll around, I feel like we're always starting our year with some consumer debt. And so through this year,

I've been setting some money aside out of his paycheck every month to hopefully pad our savings for when the baby's coming and kind of pay for, like, baby stuff throughout the year, as well as trying to tackle our credit card debt and really kind of, like like super fund our savings account well now I'm at a place where I'm just feeling really stressed out about how to tackle baby step number two if I should pause that step you know since we have our baby and just stock file cash I'm just feeling a little bit confused on what the next step is. Is this your first baby?

Yes. How old are you? I am 30, and my husband is 33. Cool. What's your household income? Our household income is about $56,000. Okay. You're trying to do seven things at once, nesting, getting ready for a baby,

and none of them are working and you're frustrated which makes you like a normal human i realized as i started listening to your show about three weeks ago regularly and i realized i was tackling every yeah just stop it just stop it just breathe thanks you have you have job one, baby. Have a baby. That's your only job right now. Just calm down. Don't do nothing else but have a baby. That's all I want you to do.

Thanks. You're not in charge of the world. You don't have to balance the national debt. Right. Just have a baby. Just enjoy. Now, what we tell you to do as far as the baby steps go during this time is stop everything

and just pile up cash. I want to see how big a pile of cash you can have before baby comes. Don't touch it. Don't complicate it. Just stop doing everything and pile up cash as high as you can pile it and don't be blowing a

bunch of money you don't need to spend seven thousand dollars on a human that weighs two pounds or five pounds no they don't take up that much room stay off of amazon for real okay just breathe and pile up money and have a baby. And then when baby gets home and you got a big old pile of money, then you can start your baby steps and we use that pile of money to go on the debt and we'll begin to plow our way through the debt. Okay? How long do you think I should pause baby step two for then? I want you to pause everything until you and baby get home from the hospital

and everybody's healthy. How much money do you think as big a pile as you can pile between now and then okay it's impossible for you to have too big a pile of money between now and the time you come home with baby safe now when you come on with baby safe we're going to push play on the baby steps okay and we're going to take everything but a thousand dollars and throw it at all your debt we're going to work to that snowball and baby step two and we're going to go boom boom boom boom boom boom and we're gonna take everything but a thousand dollars and throw it at all your debt we're gonna work to that snowball and baby step two and we're gonna go boom boom boom boom boom boom and we're game on then okay and then we're gonna be focused and we're gonna be intense but right now big pile of money have a baby simple all right even though i won't be making any income for about three months my husband will so should I still start this that's when

can you live on your husband's income yes yeah yeah I can especially with the savings that we have already no I didn't say you're going to use the savings I ask if you live on the income you can live on his income currently we do not live on just his income. What does he make? He makes about $45,000 a year. How much is your rent? Our mortgage is $850 a month. How much are your car payments? Just $250 a month for mine, his is paid. You can live on his income?

Yeah. Okay, great. You're just going to have to watch what you're doing, and you don't have to have the savings. You don't have to live like you're living now, but you can live on his income until you're back to work. And then once your income is coming in again, we will advance quickly through the debt snowball and through the other things but um

and this idea that he brings home the bacon and you fry it is a bunch of crap okay his job he's half of this equation is to help make the decisions with the money that who you need to make the decisions together if you write the checks that's fine you can be the administrative cfo of the house but uh you don't need to carry all the responsibility by yourself. He has the responsibility of making the money, and then I have the responsibility of being stressed out about the money. No, that's not how this works. We make decisions together, and he carries it with you. So hang on.

We're going to sign you guys up for Financial Peace University. We want you to go through that as well. I just want to point out, Hannah, very quickly that if your husband is on board with this, sounds like he is, and you still got a little bit of fear, even though Dave walked you through the budget, you guys can do it on his income. There's nothing keeping him from pulling some weekends, some nights. Right now, there's a surplus of part-time jobs for someone who just wants to make money for Christmas, who wants to get that emergency fund, Baby Step 1 filled. Right now is a wonderful time, and piling up cash could involve your husband and maybe should involve him taking on some extra work

so that you can just let the baby, right, just take care of the baby in your body and you just kind of chill. He can go out and bust it and pile up some more cash i would be challenging him to think about that there you go open phones at 888-825-5225 so when you are facing a large event that is that makes everything unpredictable it's okay to push pause on your baby steps pregnancy is a great example of that. Job loss is another great example of that. Things like that.

Then you push pause, and you get through the storm, and then you push play again, and you go again. But the stress comes from I'm trying to save money for the baby. I'm trying to save money for this. I'm trying to work the debt snowball. I'm trying to get ready for this. I'm trying to do this. You got too many things on your plate and people do that all the time. And the easiest thing to do is just get the old machete out and take some stuff out of your life and go, not doing that. Not doing that. Not doing that. No is a complete sentence and your anxiety level goes down every time you say no.

Nope. Not doing that. Nope. I'm so sorry. I love you and I can't come. Nope. Sorry. Nope. I think you're going to be awesome, but I won't be there. Nope. Thanks. You're amazing. Nope. Can't come. Stress goes down every time you do it. I do all the time this is the ramsey show are you sick of planned obsolescence know, when companies make products crappy so you have to buy more of their crappy products? Well, me too. And it's why I love companies like Grip6. Grip6 is all about quality products meant to last forever. That's why their comfortable, bulk-free belts, slimline wallets, and lightweight wool socks all come with a lifetime warranty and simple returns and exchanges.

So check them out at Grip6.com today and get up to 20% off with the promo code RAMSEY. Ken Coleman, Ramsey Personality, host of the Ken Coleman Show, is my co-host today in the lobby of Ramsey Solutions on the Debt Free Stage. Colin is with us. Hey, Colin, how are you? I'm better than I deserve, Dave. How about you? Just the same, sir. I've heard that before. Very cool. Where do you live? I live in Amarillo, Texas.

Oh, fun. Welcome to Nashville. First time. And how much debt have you paid off i paid off eighty one thousand seven hundred fifty six dollars in two and a half years way to go and your range of income during that two and a half years i started off at forty five thousand dollars and i ended at a hundred two thousand dollars okay wow very cool so what do you do for a living? I'm a medical device sales rep. Oh, you're doing well. Yes, sir. Good for you. Good job. All right. And $82,000 was what kind of debt?

So that was all student loans. Whoa. Yes, sir. Sally Mae did have her own place with you. Wow. Yes, sir. How long you been out of school? So I've been out of school for three years. Okay. So you get out of school and you say, got to get rid of Sally Mae.

Absolutely. I just remember living in Dallas. three years. Okay so you get out of school and you say got to get rid of Sally Mae. Absolutely I just remember living in Dallas I was a former collegiate athlete graduated with my master's degree living you know just that young professional perfect world just entering into that workplace and I just remember sitting down after that six months grace period and really you know totaling up the amount and I just have an oh after that six months grace period and really you know totaling up the amount and I just have an oh crap moment couldn't believe it oh crap yeah oh crap moment oh my gosh wow so then then what did you do when you said I don't know what you know this is crazy what was your next step how'd you find us how'd you get on the Ramsey way so um honestly

I was just on YouTube one day and you know I just found one of your videos it was somebody who paid like a hundred thousand dollars off in three years and I was like wow like if they could do it then I could do it so um that was like the biggest thing for me is just you know you started like January of 20 yes. And like three months after you start, you get the pandemic. Yes, sir. What did that do to your plan? So the pandemic was honestly one of the best things that happened to me because I started working from home in Dallas, and I basically started applying for the dream company that I work for right now,

and I switched jobs, and that's when I began doing medical device sales. And, you know, it was just something that I prayed on for a long time. I've always been passionate about what I do. And after football, I felt like I didn't have a purpose. Who did you play ball for? I played ball for West Texas A&M. Okay. Yes, sir.

And then just kept praying on it praying on it I wanted a career that you know I was passionate about and it and it led me there after applying there 56 times I finally got the job there wow you know what um I just was able to double my income and once again like I wake up every single day and I love my job I love that you're gonna be good at sales you don't get turned away easily absolutely yeah no sir no doesn't even register for you emotionally does no sir no sir and i'm and i'm not having fun with that i'm i'm telling you like you have a an unbelievable focus and i'm just curious how much you're athletic because i want people who are not athletes yes sir to get what's going on here um how did that play into your ability to to not be deterred

uh as it related to getting the job after 56 times yes sir and then also just buckling down and paying off an enormous amount of debt in a small amount of time talk about that what did you harness absolutely i mean i just think there's so much benefits to being an athlete. I tell this to all of my college buddies, you know, because after you're done with your career, I mean, it does leave you feeling empty. And a lot of the times we're so passionate about what we do. It's so important to find a career that fulfills you in a different way. And for me, I found that with my work and it just gave me the ability to never take no for an answer, like you said, and just always strive every single day to be better. And I'm in a career that, you know, challenged me every single day. And I loved to work with the people that I'm around. Do you see your sales results as a scoreboard?

Absolutely. I mean, every single day. Did you see the smile? It is a smile. Absolutely. That's what it is. And I'm part of a great team, a team of three guys. One of them was a former collegiate athlete at my school as well.

So this knocking out this 82 was just you had another goal to hit. Absolutely. That's right. What do you tell people the key to getting out of debt is when they say you paid off her here you paid off 82 000 in two and a half years i think the key to getting out of debt is just um just coming to realization that it's not going to go away and at the end of the day um to just be disciplined and you know you want to break that family tree and you want to you know you want to be financial uh financially free and you want to live the life 15 20 years down the line but you know i think the biggest thing is like sacrifice now um and a lot of the times when

i tell people my story the two words i love to use is delayed gratification. I understood that I had to sacrifice now for the life that I want to live 15, 20 years down the line. And it's just so difficult. It's just not normal for people my age to do that nowadays. So I just really wanted to grab those horns and, you know, just attack it. By the way, it's never been normal for people of any age there's not there's not been a generation that had this down yeah but but that everybody in that generation did it right but uh wow that's very powerful good for you man well done well done how does it feel to be free it feels amazing um i still remember i wrote my

last check it was 6500 and i actually drove home to El Paso to celebrate with my family and hit that last click and record it and everything like that. I kind of got teary-eyed when I did it just because it was just such a journey and there were so many sacrifices that came with it. I'm 26 years old. And 100% free. Way to go, dude. That's the biggest win of your life.

I'm so proud of you. That's why you got emotional. Touchdown. I mean, what was one of the most disciplined things or maybe the hard things you did to sacrifice as a young single guy coming out of school? What were you doing? I mean, the biggest thing is like not being able to eat out,

you know, not always being able to go to social events. And if I did, you know, I would just kind of sit there and, you know, I wouldn't eat, I wouldn't drink. And just staying focused. And also a part of that, too, is I had a second job at one point. And I think that was one of the lower points of my life. But I understood that, you know, once again, like it was for a short short term yeah oh way to go man what a proud of you well done colin beautiful beautiful story very cool yeah hey we've got the live and give bundle for you that's the total money makeover book for you to give to

somebody and encourage them like you have been yes uh the baby steps millionaire book which you are on your way to that one for sure and uh and of course the financial peace university membership for a year we'll give you all of those and use them yourself give them away whatever whatever you need to do that live and give bundle so very very well done colin beautiful job sir i love it i love it all right All right, calling from Amarillo, Texas, $82,000 in two and a half years, making $45,000 to $102,000. Count it down, 26 years old, he's free. Let's hear a debt-free scream. Three, two, one. I'm debt-free.

Yeah! Woo! Woo! free yeah it did not occur to colin that he didn't owe the money and that someone else should pay off his debt like washington it did not occur to him to sit and wait on President Biden to pay off his debts it did not occur to him because he is a stud that's right he gets stuff done it did not occur to him that anything should be done except this is one more goal in my life that needs to be knocked down yeah it's what occurred to him yeah and so this is the difference. And you know, the interesting thing about all of those things, those are not things that are external virtues. They are things that you can just decide you're going to have today.

I'm going to be a man. I'm going to be a woman of purpose. I'm going to be a man. I'm going to be a woman of dignity. I'm going to be a man. I'm going to be a woman of dignity. I'm going to be a man. I'm going to be a woman that's not waiting on a government handout to make my life good. I'm going to be a man, a woman that takes life by the throat. By God. Set your butt on fire, people. Go be somebody. Line up for greatness. Don't sit around and try to figure out a way to quiet quit.

Because if you work here, I'll quiet fire your butt. This is unbelievable, man. That's not true. It'll be pretty loud. Time to get it done. There won't be nothing quiet about it. Nothing quiet about it. Don't let the door hit you in the butt if you're going to be lazy.

I got stuff to do. There's too many people need help for you to sit around on your dadgum assumptions. We got stuff to do, man. This is The Ramsey personality, is my co-host today. Open phones at 888-825-5225. Our question of the day comes from Blinds.com. Blinds.com's 100% satisfaction guarantee means even if you mismeasure or you pick the wrong color, they'll remake your blinds for free.

You get free samples, free shipping, and with the new promos they run every month, you'll save even more. Use the promo code RAMSEY to get the best deal today's question comes from selah in colorado how do i write a resignation letter i want to keep it professional but companies need to be called out on their so they could do better in the future i love when dave steps in with the sound effect you could just uh fill that in with your imagination um okay so let's just stick to the first part of the question. How do I write a resignation letter? I want to keep it professional.

Well, then keep it professional. You know, the resignation letter to me is less important than the way you handle yourself when you go in and talk to your leader. And, you know, the advice I give to callers on the Ken Coleman Show as well as the Ramsey Show is leave the way you would want to be left. Put yourself in the other person's shoes, even if it's not a great environment, even if you feel wronged or whatever. The reality is it never does you any favors by burning the bridge or blowing the bridge up, which we're seeing a lot of young people do

on TikTok. For heaven's sakes, just leave with class. It's going to follow you when you least expect it if you don't so on the resignation letter i don't have three points and here's how to do it it's very simple be professional and uh keep it short and sweet and you can turn it in when you look at your leader thank you for the opportunity please accept my two-week notice that's it keep it simple gratitude clarity let me just tell you say like if if they cared what you thought about them they would have already asked you they don't care yeah for whatever reason because they're dumb or because you're belligerent i don't know which right but they don't care what you think

so you telling them to get their blankety blank blank stuff in order is going to do zero good that's correct because they don't care what you think. So you telling them to get their blankety blank blank stuff in order is going to do zero good. That's correct. Because they don't care what you think. Period. That's right. Okay. I, you know, I probably fall in that category.

Well, I think most every leader does. If you're, you know, I quit doing exit interviews. Now, our HR team does exit interviews because they want to try to find out why you're leaving. I'm not leaving. I'll be here. Yeah i don't you know see you i i love you but i'm going to keep going you're not yeah and that's pretty well the end of it that's right and you know i don't need you throwing grenades back in here at me as you leave it does it does nothing except make me remember you that way that's right and the probability or the percentage chance of you telling them what you think about what they need

to change oh i never thought of that i'm so glad you told me i'm so thankful it's never going to happen so just just just leave yeah leave well keep it simple and you've stayed too long if you feel that way if you're willing to say company need to be called out on their blank. That is absolutely right. You've stayed too long. Yeah. You need to either call them out on their blank and stay and help fix their blank, or you're part of the problem now, and you've become part of the problem.

So, yeah, you do need to get out of there. Just keep it brief, sweet, and say and say see ya wouldn't want to be you and move on you know and um then you can smile later and when you calm down and you're gonna go well they probably weren't as stupid as i thought they were and so on you know yeah you know it always cracks me up day when people want to take a parting shot at somebody and if it's so bad that you want to leave then why aren't you happy you're leaving you should be bubbly you should walk in and go hey i'm leaving today you know it's like what are we doing the problem is social media has raised a whole generation of activists and everybody thinks they're a freaking activist right you're not an activist you're just a former employee

there's a difference i mean seriously that's just your category. You're just a former employee. That's all you are. And nobody really gives a crap what you think. They really don't. That's correct. You and the three people that sit around and drink coffee with you and whine about stuff from four years ago, you're the only ones that care, you know?

And so some of you people do this stuff, and we've had it happen to us here. We've had it happen. You know, I've got friends that run companies and people that do stuff, do stuff and you know they've never erected a statue to a critic that's true just never been done so except that one to roger e roger ebert but um anyway cisco and ebert remember that oh sure actually has a statue oh he does i thought you were kidding no that's i actually said that from stage one time there's a famous saying, like Mark Twain or somebody said, there's never been a statue directed by a critic.

Somebody sent me a picture of Roger Ebert's statue. Good for him. That's good. Well, I mean, you've got to have something to do. Open phones at 888-825-5225. Jessica is in Fort Worth, Texas. Hey, Jessica, how are you? I am so good, and I'm honored to talk to

both of you. You too. I was at the SMART conference, and you were both so inspiring. Ken, you really spoke to me, and thank you so much for what you do. Thank you, guys. Thank you. How can we help? All right, so I've got an MD, which I think stands for money dummy. I got to laugh. We were doing pretty good. My husband and I, we were working our way through the baby steps, made it to steps four, five, and six. And then a few months ago, we were looking to move into a different home. We bought a home that we thought was going to be everything we wanted.

It was in a great neighborhood. We knew we were going to put some money into fixing it up, and we felt okay with that. Then here comes the mistake. And actually we bought it for $597,000. It appraised for $655,000. So we were like, we're doing great. And then we realized that the things we wanted to do to this house to make it into what we wanted, it was going to cost way too much money. And it was a mistake. It was a mistake, and we relisted the house for what we paid for it, knowing we were going to take a loss. We got no offers at all.

We left it up for about almost two months, and then we pulled it and said, okay, new plan. We're going to have to fix this thing up and either rent it out or sell it. We're in that position right now, and I had been thinking the right thing to do is to rent it out, but now I'm thinking we're in that position right now, and I had been thinking the right thing to do is to rent it out, but now I'm thinking we're in too deep, and I think I want to get rid of it. I'm seeking some guidance on that. You need to sell it.

It's not a rental. It's a mistake. There's a difference. Yeah, it's a big, can I tell you some numbers, though, and see if this changes anything. Following your method and your guidelines for how much we could buy we figured we could afford um easily eight hundred fifty thousand dollar house um this house is so far under budget that between that house and the one we currently live in which we owe 265 on we're still way under that um and so that was kind of the motivation like well you know we could still pay these both off in less

than five years maybe we should just stick it out and and get it done and then have it generate income i wouldn't sell it for a hundred thousand under less than what you paid for it but i would sell it okay i'm not suggesting you give it away but i think you need look five years from today you're not going to be happy you own this house. It's not what you bought it for. It's not what I would have bought as a rental. It's not what you bought it for. It's not why you bought it. It's not your plan.

It's a burden. And really, every time you come around it, it reminds you of a mistake rather than a positive thing. Yes. I bought stuff that I had payments on in the past, and every time I wrote a check for it, it reminded me I was stupid, and I didn't like that. I have enough reminders of that. We paid off $433,000 of mostly student loan debt about two years ago. Got enough reminders of that for a lifetime.

Well, good for you. You cleaned up a lot of stuff. And I don't think there's any reason to panic here, and so I'm going to put it on the market, make sure it's shiny and shiny as it can be to get it sold and put it at a reasonable price. And expect with these higher interest rates in the market slowing down for it to take longer than it would have taken a year ago or two years ago for sure. But just give yourself some patience, breathe, put it on the market, and let's have the plan of getting rid of it because you don't want to still be owning it later. No, and I want to encourage you, Jessica. I had dinner.

We had a VIP dinner Friday night before our Smart Conference last Saturday, and I got to sit with a couple of our Ramsey-trusted real estate stars in the Fort Worth, Dallas area, and they told me, both of them, they said the housing market is still strong. The difference is you're going to have to paint it. You're going to have to do some things that we used to do. You're not going to have 40 people lining up to take it as is. So do what you got to do. You're going to be able to sell this house and you're going to be fine. Yeah. Just normal process of selling. Yeah. Make sure it's shiny. Yeah. It's in good shape. It's going to take a few more months. And it's priced properly. It's going to take 90 to 120 days. And just get with one of our real estate ELPs,

and they'll help you do every bit of that. Price it properly, stage it, everything. So, hey, you're going to be okay. I've been there myself. I don't think you're nearly as dumb as you're giving yourself credit for. I think you just made a mistake. This is The Ramsey Show. Hey folks, Ken Coleman here. Did you know The Ramsey Show is one of the most popular podcasts in the world?

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