The Ramsey Show - App - How To Save Money on Housing During Inflation

Episode Date: March 31, 2022

Ken Coleman & George Kamel discuss: Saving money on housing during inflation. Cashing out a whole life policy, Baby-stepping your way out of extreme poverty, How you can become a stay-at-home mom, The fallacy of pretending that student loans are the only option, The struggle of working with people half your age. 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  

🎵 Live from the headquarters of Ramsey Solutions, this is The Ramsey Show. It's where we help you live your best life by being healthy, relationship, successful, professionally, and peaceful financially. I'm Ken Coleman. George Campbell is with me. And we are here for you. 888-825-5225. 888-825-5225.

888-825-5225. Let's go to Columbia, South Carolina. Brian is on the line. Brian, how can we help? How you doing, guys? How are you? We are having a blast. How can we help?

Good. I have a question for you. I'm a real estate investor. And my net worth is about $2 million, maybe a little bit over. My net income is about $8,500 right now. And in December, it's going to be going to $10,500 a month. So as I said, I'm a real estate investor and I have this whole life policy that I took out at the age of 26 and another one at the age of 33. The cash value on both those policies together is about $70,000, and the death benefit on those both together would be $107,000. I'm looking to take that money out.

It's just sitting there doing nothing, really. But then on the other side of the coin, if I close those accounts out, then I'm losing on the death benefit of $107,000. That's totally fine with me. Because you're going to get a term life policy before you cancel this whole life. I was just going to say that. Should I take out a term policy and cover that 107? 100%.

And then take that 70 and then just use it? Yeah, I want you to get a term policy that's 10 to 12 times your income, and I guarantee you it'll still be astronomically cheaper than what you're paying for this whole life policy right now. It's a total ripoff. Well, I'm not paying anything for it because I took it out when I was very young, and right now the dividends are paying the premiums. But there's still agent commissions, fees.

There's all kinds of things that are wrapped in there. Yeah, that is true. You think they're not making money off of you? They are, buddy. So here's what I would do. Get a term policy in place. Contact our friends at Zander Insurance. They'll get you started there.

I just did this, actually. Upgraded my own term life, and it was a great process. Once you have the term life policy in place, until it's active, don't cancel the whole life. Once it is active, cancel the whole life,

get the cash value out of there, and you'll be set. Right. I understand. The other thing is, hey, taking on more debt, you guys are really big on having no debt, and I get that, and I love that. The only debt I have right now is the house that I live in, my primary, and a car, and that's pretty much it. All my properties that I have are paid in full. Wonderful. So that's great. I have four properties that are all paid in full, and that's kind of my income along with my social security money that I have coming in. Cool. Well, I would pay off that car. If you get that cash value out and we're getting completely

debt-free, are you investing 15% of your income? Yes. Okay. So beyond that, we're going to pay off the house with whatever money is left over. Right. Then imagine making your money without a payment in the world. So the main thing is to take this $70,000 and then just use that and take the term policy and cover the 107 death benefit that I'd be losing. Yeah, the 107. You're saying $107,000 if you died today. That's right.

That sucks. You need way more than that. And so a term life policy is going to be way cheaper, and you can get that for 10 times your income. Let's just say you get a $1.5 million policy. It might be a few hundred bucks a year. You can cover that. Yeah, especially with the preferred rate.

I want you to be doing your investing and your insurance separate. And the problem with whole life is it tries to do two things at once and it sucks at both. Wow, George. I don't mind so much losing the $107 on this death benefit because my assets would cover anything for my death. You're not going to lose anything. Once you get that term

life in place, instead of $107 benefit, you're going to have a $1.5 million benefit for a fraction of the cost. Oh, great. That's what I was looking for. Yeah, you're not losing anything here at all. By the way, you won't miss that. You won't miss that benefit. Yeah, and word to the wise, get yourself in premium shape

before you take that term life insurance test. Yes, you don't want to have a gap there. So make sure you get term life in place, then cancel whole life. It's one of the worst products out there. The only people who benefit from it are the whole life salesmen. Imagine that. Because it's not insurance. It's trying to be too many things at once. Don't like it. Not a fan. George, are you okay? I'm sorry. I get riled up. I mean, you just got a little hot under the collar. About whole life insurance, nonetheless. Yeah, wow. But he's doing so great. I want him to protect his assets and all the stuff he's worked so hard for. Don't apologize for passion.

Okay. I love it. You ready to go, though? I'm ready, man. You settled down? All right, put me in, Coach. Adrienne is up next in Milwaukee. Adrienne, how can we help?

Hi. Can you hear me okay? We can. Great. Thank you, first of all, for taking my call i i'm so excited um i i've been listening to you guys for a couple of months now and i'm calling because uh i'm a single mom of a 12 year old and her entire life we've lived in extreme poverty and i um i'm legally, excuse me, I'm going to cry. I just can't believe y'all took my call.

Adrienne, hey, listen, we're here for you. Take your time. It's okay to cry. This is painful stuff. We're not going to leave you hanging. Take your time. I just, it's, I feel like every time I try to get up, something happens, and I get knocked down.

Yeah. And if y'all didn't know this, and I know you do, child care is expensive. Yes. And so I've often had to stay home with her. And I have a degree. I actually have a degree in teaching. And people ask me, and I don't mean to throw this at y'all, but people ask me, you know, why are you not teaching? Well, when I was a student teacher, I was sexually assaulted by a gang that's now famous, MS-13.

Oh, my gosh. And they arrested me with PTSD. Oh, I'm so sorry. And I just, you know, it's just, it's just been difficult the last five years, especially to watch them grow and become famous. And when they announced a year and a half ago, terrorist charges for their leaders, I had severe memory loss and I got help. I went to a psychologist and, you know, we talked through it and everything. So I know you're online and everything. I just, I...

Adrienne, let me ask you this. Are you healthy enough after the counseling, the therapy that you've gotten to do other type of work that are not, that may be not in that environment that is so painful? Yes. Okay. Yes, and that's why I'm calling. Because I know I'm crying because I just can't believe you took my call. But the answer to that is yes.

And my daughter and I lived together in a recovery center end of 2021, and they knew what was going on, and it was for our protection too. Are you living in a safe place now? Where are you two living now? I am. We are actually north of Milwaukee, and we live next to our town's police department. So we're safe as we're going to get. Well, no, you're safe as you can be in public housing.

Am I understanding you're still in public housing? Oh, yes, we are. You're at the nail on the head. Okay. So, Adrienne, we want to help you. So, we're going to hold you over. We got to go to a commercial break. George is ready to go. We're going to help you get your money game figured out. I'm going to help you figure out how we can get some work that is healthy and also making enough money for you to be able to crawl out of this, because you can, but crawl is probably the key word here. So here's what I want you to do.

Take a deep breath. Get yourself a glass of water. Hang on through the commercial break. When we come back, we're going to pick up right where we left off, which is how can we get you good work to start bringing in more income so that we can begin to build financial peace. Hang on. We're going to help you out.

You're a sweet lady. The best is yet to be, I promise. This is The Ramsey Show. Most people know me as the guy who did stupid with a lot of zeros on the end. I made my first million dollars in my 20s the wrong way and then went bankrupt. That's when I set out to learn God's ways of managing money and developed the Ramsey baby steps. By following these steps, I became a millionaire again, and this time the right way. After three decades of guiding millions of others through the plan, the evidence is

undeniable. If you follow the Baby Steps, you will become a millionaire and get to live and give like no one else. My new book, Baby Steps Millionaires, is now available for purchase. When you order my new book, you'll learn how ordinary people built extraordinary wealth and how you can do it too. I'll walk you through how to invest, build wealth, and bust through the barriers preventing you from do it too. I'll walk you through how to invest, build wealth, and bust through the barriers preventing you from becoming a millionaire. Baby step your way to becoming a millionaire. Get your copy today at RamseySolutions.com.

That's RamseySolutions.com. Welcome back, folks. You're joining the conversation here on The Ramsey Show. Going into our last commercial break, we had been talking with Adrienne in Milwaukee, Wisconsin. And she and her 12-year-old daughter have been in public housing for some time. She's dealt with a lot of trauma in her past. And essentially, she's going, help, get me out of public housing. And so George and I are going to dive back in here. We want to work on income first. And then what do we do with that income for a better life? So we're going to go back to Adrienne. Adrienne, okay, so let's talk about income. We know you've been through a lot. We want to focus on the future. And so you've got a college degree. You've been a teacher. So you've got a lot of transferable skills, and you have transferable experience. And I think in this job market,

Adrienne, we're talking about the lowest unemployment rate in the history of this country right now. It is a job seeker's market. I can give you some resources at the end of our call, but I just want you to give me one or two things that you know that you can do and do a good job of that's going to pay you enough money to get out of poverty level. Give me two ideas real quick. Ooh, online remote teacher rather than be in the classroom. All right, that's a good one. And I actually took your career assessment last night and it suggested social justice,

advocacy, human and civil rights, but I don't really know how that transfers to an actual specific job. Okay, so glad you took the Get Clear career assessment. Those are just pointing you in directions. So you want to look at things like social service, social work. I'm not saying these are things that you automatically should do. I'm just saying you have things that you automatically should do. I'm just saying you have to brainstorm a little bit. The best way to brainstorm is actually get on job sites

in Milwaukee and begin to see who's hiring and can I do things where I love on people, right? Because that's what you want to do. You have the gift of instruction. So you could take a training job, maybe hr training job there's so many different things that you can do because of your degree and because of your background in teaching people so i want you to begin to believe that you can actually make really good money right now you can make good money you can be making forty thousand fifty thousand sixty thousand dollars you can do that and that's going to take care of the public housing problem and your daughter's 12 and if you're in a safer place i'm a father

so please understand which from which i come from on this she's 12 if you're in a safer place you said you're in a safe place now she can stay home uh in between the time she gets off of school and you get off of work and so there is a path forward for you. Do you see that? I do. I absolutely do. And that's a huge reason why I called in. All right, great.

Now let's talk about the money situation. George, jump in here on what she's doing and where she's at and how she can get peace. So what is your income now and where is it coming from? I was working at a restaurant by where I lived over the winter because my car had died. And my income is only $1,000 a month. Okay, so $1,000 a month. And where is that coming from currently?

McDonald's. Okay. So you've got a part-time job there right now? I had to quit it the other day. Well, actually, I gave them two months because the work gave me a, it gave me a, I had to go to the emergency room because my rib cage is inflamed. Oh, my goodness. And so I said, okay, I have to quit, but I'm going to give you, you know, a length of time. They cleared me from the work.

They said, you can go now. So you don't have income right now. No, we just dropped to zero. Yeah, sweetheart. We need to cover your four walls. Food, utilities, housing, and transportation. We have to have food on the table. We have to be able to cover your rent, whatever that is. How high is the rent for you? None. Okay, because of public housing. They're in public housing. Okay. And then transportation. Do you have a car? No.

So you're walking to work? They told me that I either walk to work and I walk through the snow and I walk through the ice. My car, the apartment complex said, this was a little bit ago, they said, hey, you fix it today or we're towing it. Adrienne, you've got to go get a job as soon as possible. We've got to get you some health insurance in place. We've got to get some stability here with the four walls before we can do anything else. We've got to keep food on the table. We've got to cover the bills. And we've got to do that ASAP.

This is your A1. And we also have to get you healthy. So we want to send you some resources. One of those things is Dr. John Deloney's new book that's coming out soon, Own Your Past, Change Your Future. It's going to help you deal with all of the trauma that you've experienced. It comes with a month of therapy from BetterHelp, weekly counseling. That's going to be helpful. And Ken can also send you a copy of his book. Yeah, we're going to give you a copy of From Paycheck to Purpose

because you have got to take care of you and your daughter financially. You've got to get a job, and you can. You're going to have hardships, but you need more income, bigger paycheck, and then we'll help you walk through that. Let's also get her a copy of Total Money Makeover so that you know how to spend your money, how to start a great financial foundation. We're so sorry for what you've gone through, but you have survived it, which tells me that days of thriving are just around the corner, but it starts with you getting busy and getting out of public housing. That's going to lift you, not just financially, but lift you emotionally and allow you to

do what you need to do to get healthy and take care of that baby girl. Thank you so much for listening, and thank you for the call. Alexa is on the line in Denver, Colorado. Alexa, how can we help? Hi there. How are you guys? Doing great. How can we help you? So I just want some, I guess, some input from you guys. My husband and I are currently on baby step number two. We should be done with that and halfway through our emergency fund here in about three to four months. But I guess I've recently kind of have a little bit of a burden on my shoulders and would like to make Alexa, Alexa, you just dropped out the last 10 seconds. Could you repeat that?

Speak directly into your phone. Oh, no. There we go. Hello? Okay. Oh, goodness. We missed some things. So you kind of said, I would like to, and we lost. You're going to be debt-free and halfway funded the emergency fund in three to four months, but you'd like to? Just get some input or advice from you as far as lately I've had a little bit of a burden to kind of stay home with my kids. I've worked their entire lives. I have three. My oldest is seven. So I guess I just, you know, I feel like I've missed a lot of them already. And I guess I would like to know your input as to how to know financially, you know, when is a good time

to stay home or if it's a good time, you know, obviously getting out of debt is, um, got to do my part. So, yeah, well, I think you're financially ready when you're financially ready to make that move. And so I would want you to have a fully funded emergency fund before we have this conversation. And then we need to figure out, can we live on your spouse's income? Are we going to be okay? Can we cover all the bills and still have the margin to invest and save for the kids' college and pay off the house early and do all these other things? So he might need to get his income up, and Ken can help in that regard, but I love the

idea of you staying home. It just might be a not now. That's exactly right. The formula's really simple, Alexa. You can be a stay-at-home mom when you can afford to. And so that's a combination of increased income or lowering expenses. And you get to determine that. That's what's kind of fun about it, but it's also kind of frustrating, right?

Because there's some patience there. And it's just like anything else. I'd say the same thing to you as I would say to somebody who says, Ken, I want to move careers. I want to change and I want to pivot, but it's going to take time to get qualified. You know, it's going to take time to pay off debt, to be able to afford the qualification process. I get it, but it's going to be worth it. And if that's your big vision, you better put that front and center every day when you wake up. Your mountaintop is stay-at-home mom.

So in order to scale that mountain, what must be true? What must you do? And you have the answers. George and I don't have the answers, but we can help. And I can tell you it's increased income and it is decreasing expenses. What's his take-home pay? His? Yes.

About $55,000? Yeah. Oh, no. Sorry. That's gross. That's gross. So, you know, you and your husband, this is a steak dinner or whatever your favorite dinner is. Candlelight.

And let's dream together. And look at the budgets. My dream is to be a stay-at-home mom. Is he on board? If he is, what is his role? What is your role? This is a team. We lock arms and go,

this must be true for me to come home and be full-time with our babies. Yeah. And do a fake budget. Do a fake budget as if you're just living off of his income. I love that. See how tight it is and see what the gap is. That's going to help you make this a reality. That's a great exercise.

All right, the reality is, George, we still got more Ramsey Show. More Breakthrough. Right around the corner. Don't move Welcome back to The Ramsey Show. I'm Ken Coleman. George Campbell joins me today as we take your calls, 888-825-5225.

Question of the day comes from Blinds.com. Blinds.com, 100% satisfaction guarantee means even if you mismeasure or 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 Spencer in Ohio. He asks, I currently attend community college and want to pursue a bachelor's degree in sportscasting. This means

I will have to move out of state and attend classes on campus. Most of my community college costs were covered by financial aid. My worry is that if financial aid and scholarships do not cover the full cost of tuition and housing when I change schools, I'll let you take on that one there. But I'm going to tell you right now, I started out in sports broadcasting. I do not have a degree in sports broadcasting. I have tons of friends that are in sports broadcasting. They don't have a degree in sports broadcasting. This idea that, A, you have to have a degree to be a sports broadcaster is totally a myth,

number one. Number two, why in the world do you have to leave Ohio? Okay, we have two things here. A, you don't need the degree to be a sports broadcaster, but if you want to get a sports broadcasting degree, I don't begrudge that. If you can pay for it, cash, and you don't go into debt, but why would you have to go out of state?

That's a desire, George, not a requirement. There's plenty of state schools in Ohio where, as a resident, he's going to get a much better discount, and then that leads to the question that he's asking on the money piece. He won't have as much debt. Yeah, well, I see a lot of have-tos. Well, that means I have to. That means I have to take out student loans,

and that's where your language needs to change. You say, I'm not taking out student loans no matter what. So where does that leave me? Well, right now it leaves you with a $30,000 gap if you're saying it's going to be closer to $40,000. I have $10,000 saved. So now I go, okay, if you really want to pursue this and this is the only path, which it doesn't sound like you've done your research to know that, then how quickly can I save up $30,000 by working my butt off in order to afford this? But before you even do that, I go, you don't need to get a degree in sportscasting.

You can get a degree in communication. You can get a degree in broadcasting. You can just go get some experience somewhere like Ken's talking about. Go work your tail off for free at a radio station and get some chops until you can work your way into a position like that. And it may take seven, eight years, and I'm okay with that. And if you can do it debt-free, that's going to make this whole process a whole lot easier and a whole lot less stressful.

Took me seven years to get to Ramsey Solutions, seven years, from starting from scratch, no degree in broadcasting at all. I would also point out that early on I took a sports broadcasting school which was local in Atlanta, and it cost a whopping $699. And I learned stuff in that little class, taught by a local sports producer, that I still use to this day. What does that tell you, Ken?

It's not about the piece of paper. It's about the person. It's about, yeah, it's about what do I need to learn to do what I want to do, and where are all the places that I can do that? I love it. There it is. Good that I can do that. I love it. So there you go. There it is. Good luck, Spencer.

Yeah, I get it. And if people are making these decisions right now at the height of inflation, right? Don't tell me you have to. Don't put yourself in some imaginary corner and back yourself in and go, I have to. It's the only way. Yeah, I know. All right, George, let's talk inflation, shall we? Yes.

So we took a call earlier about housing. And it's a stressful thing for a lot of people, combating inflation, protecting your four walls. And so we've been doing a series on this. We've covered food and utilities. We've got those highlights on our YouTube channel for you to go check out. And today I want to talk about housing. This is a big issue. Whether you're renting or you're looking to buy a house, this is a tough situation for a lot of people. We're seeing prices ballooning out of control right now. I mean, we're seeing some stats here.

Rent has ballooned 20% since January 2021. We're seeing them be much higher elsewhere, 50%, even 60% in some areas with rent. So let's talk about ways to save on rent. Number one, this is uncomfortable. No one wants to do it. Get a roommate. I know. You don't want to live with other people. People are complicated.

You want to have your own space. You don't want to deal with the dishes sitting in the sink. But that person can cut your housing expenses in half. And this can be a great temporary short gap to get you to where you want to be financially. Number two, sign a longer lease. A lot of the times, if you sign a longer lease, if you know you're going to stay in the same place for a while, you can sign a 16-month lease, an 18-month lease, and save some money that way. And lastly, this is a crazy one,

you can move out. You can go find cheaper rent elsewhere. And it may mean moving out of the fancy city and you're a little further out, but if you can stomach the commute, or if you're remote, man, that opens you up to a lot of options when it comes to rent. Do that. Now, when it comes to buying a house, this is a big one, Ken. People are making some really terrible decisions out there because of the FOMO and the market. And they feel like if they don't get in now, they'll never get in. Now, what is the FOMO, George? The FOMO is the housing prices are going up so fast that I'll never be able to save up. So why not just do it now? Even though I can't afford the mortgage, I'm just going to go ahead and do it and worry about it later. And I can tell you, we take plenty of calls here on the Ramsey show

of people who call in and say, Ken, George, I made a huge mistake. We jumped into a house too soon because we were impulsive. We skipped the appraisal. We skipped the inspection. It's got, the roof is caving in, which needs 20K of work. And we don't know what to do. And the mortgage payment is, we can't breathe with this payment. So I want you to buy a house the right way. And that means saving money because you're not going to be drowning. So here's how to save on housing. Number one, save up 10 to 20% for your down payment. And I want you to avoid PMI. That's private mortgage insurance. If you can put 20% down or more, which is money that protects the banks, not you, in case you can't pay. Number two, I want your payment to be no more than 25%

of your monthly take-home pay on a 15-year fixed loan. Now, that's hard for a lot of people. They go, well, God, come on, Ken. It's going to take me seven years to get there. I'm fine with that if it means you're not broke for the next seven years because you had no patience to wait. And third, this goes right into this. Wait until the market cools down. We're seeing interest rates start to go up, which hopefully helps cool off the market. I'm not going to predict anything, but that's the hope. So let's chill out. Let's be patient. Let's take this time to save up even more for the down payment so that when it cools down, we can make a level-headed decision. I got a thought, George. You were talking about FOMO and fear of missing out is what you're talking about. I think it needs to be FOSO, fear of stressed out.

Ooh, I like that. That's not good at all. It's not good. I want you all to check out the full blog at ramseysolutions.com. It's called How to Combat Inflation and Protect Your Four Walls. We cover everything from food, utilities, housing, transportation. I think even if you do a few of these ideas, it will help create some margin in your budget so that you can breathe, so that we can get through this crazy time of inflation. Very nice. All right, back to the phones. Eric joins us in the Big Apple, New York City. Eric, how can we help? Yeah, so my question is, is it worth it

to spend $200,000 to do an MBA? I highly doubt it. Why do you think you need the MBA? I don't think I need it. I think it has some real estate classes, and

I'm interested in real estate, but I'm already doing it. I think it has some real estate classes and I'm interested in real estate, but I'm already doing it. I'm already doing it. And I'm not sure if the classes are- So why would an MBA help you become a better real estate agent? Why not just sell a bunch of houses and get a bunch of experience and be great with your people skills? Yeah. I mean, I'm not a real estate agent. I'm just investing on the side. Okay. So my question is... Yeah, and I'm not sure if that's helpful. And the other thing is I have a full-time job,

but I don't think I need an MBA for promotion or anything. You don't? That's what I was trying to tell you. Yeah, and I feel like... Because I said... The MBA has... Eric, listen to me. I said, why do you think you need it?

You went, well, I don't think I need it. I'm already doing it. So stop doing it. Because my guess is you're not paying cash for it. Are you paying cash for it or are you taking out loans? I probably won't take a loan. I don't have enough cash for that now, but it's a part-time program. And over time, I'll save up.

How are you doing your real estate investing? Yeah, I have mortgages, and I also invest with cash. Okay, so we don't believe in debt, all right? And you're in debt on this real estate game, and you need all the cash that you can to pay that debt off to get out of debt which means no more cash going towards an nba that you do not need nobody cares if you have an nba it'll never hold you back ever it'll absolutely never hold you back so don't take it george i mean he needs that cash yeah to get out of debt stop playing around with debt man this is monopoly

money it's going to screw you over long term. This is The Ramsey Show. Welcome back to The Ramsey Show. I'm Ken Coleman. George Campbell joins me. Our scripture of the day comes from Psalm 119, verse 66. Teach me knowledge and good judgment, for I trust your commands. Our quote from the billionaire founder of Spanx.

A lovely lady. I had the opportunity to interview at an Entree Leadership Summit. That's right. Great interview. Not too long ago. Sarah Blakely. It's important to be willing to make mistakes. The worst thing that can happen is you become memorable.

I like that. I've also heard it said, George, that the worst mistake we make in life is being afraid of making mistakes. Ooh. That's so meta. Huh, that's so meta. Huh? That's so meta. What does that mean? Meta?

Yeah. It's just within itself, you know, like the Matrix. Oh, it's like the new Spider-Man with all three Spider-Men. Just like that. Just, am I wrong? That's close. All the different universes? Yeah. Meta?

You're teaching me, folks. He's teaching me right here on the show. Joe is up in Kansas City. Joe, how can we help? Hey, fellas. How are you guys? We're having a blast, Joe. What can we help you with?

Well, I got a question. I know when I turned the show in a little while ago, you were talking about job advice, and then it became switching jobs, things like that. I love my job, so I'm in a sales organization. We're a car business. Uh, so, uh, we have all salesmen in one big room. Uh, I will be 55 this summer. And one of the issues I deal with is I'm dad. And so like when I try to, you know, lay some knowledge on the other guys, because I have been with them, I've been with them several months, seven in a row.

Okay, Dad, thanks for the advice, and I kind of get stickered off. But the work ethic of half my age coworkers, how do I not let it get to me? So they're being disrespectful? No, not disrespectful. But I just, I don't see, you know, I will sell

a couple dozen cars a month. That's just the way I work. And some months, you know, 40, some months, 18 or 20, whatever. And they are happy with six to eight. Yeah. And I know I can't pay my bills on six cars a month.

But let me ask you this, Joe. Joe, when they sell way less than you and they're happy about it, does that affect your paycheck at all? It does not. And I realize that part of it i you know i realize that we're not a salary position and they can come and go if they please but i just i see a lot of the guys there's a couple particular but man they could be doing so much better yeah and guess what joe they're not get joe i first of, can I just tell you, I have tremendous empathy for you.

I really do. I'm 47. I'll be 48 in July. We're not that far apart in age. I get irritated all the time by stuff like that, young people not seeing what they need to see in the moment, doing what they need to do in the moment. But the reality is we were like that once on some level, maybe not as bad.

But you're letting it bother you so much. And you started off the phone call by saying, I love my job. I like what I do. But I'm dad. And I think that that dad is coming, that the way you speak to these guys and gals is coming from a good place. I think you are trying to be that older wiser gentleman to help them and i think your heart is in the right place but your attitude's

not and it's coming across that way and that's why they're calling you dad and instead of getting you know bent out of shape about it you need to listen to that and go it's probably not cool that they're saying that to you but you're also coming across in a way that they're kind of calling out in their own way. And so you don't need to be dad because, see, dad, see, I say whatever I want to when I want to to my three kids. They don't have to like it. They live in my house. They are the beneficiaries of my hard work, Joe. But these guys and gals aren't your kids. They don't live

in your house. So you don't need to give them advice unless they ask for it. And here's why. And I know it's hard to hear, Joe, but listen, here's why. I know, but listen, they don't want your advice. And until they want your advice, don't give it. Because even though they need your advice, when you give it and they don't want it, it's not received, and then it hacks you off even more. Go in and do your job. Do the best that you can do. Model the way and stay to yourself. and shake your head when they're not around

comment on this younger generation all you want to stop giving advice because here's the deal i appreciate it here's the deal that's going to lower your blood pressure and it's going to make your job so much more enjoyable it's not your problem even though you can help it's not your problem. Even though you can help, it's not your problem. George, you are a millennial. Anything I said wrong there, I'm the Gen X. No, I felt it. I'm going, man, this resentment is only on Joe. They're not affected by it. They're brushing you off.

And so you focus on selling cars and let them focus on selling cars. And one day they're going to go, how does Joe sell so many cars? Man, that guy's got financial margin in his life. I want that. Right now they're young, probably single. They're just blowing their money on the weekends. And that's just part of a misled youth. They'll get there. They'll come around. And by the way,

they'll see. And they've heard what you've said. They've just chosen not to listen. It's not illegal to not work hard. This is America. I get it, Joe. Move on. Do your thing. Daylon is in Salt Lake City, Utah. Daylon, how can we help? Hey, thanks for taking my call. You bet.

Okay, so I have a quick question. I'm getting promoted at work, and that promotion is out of state. So I'm thinking I have some debt right now. Obviously, I was newly married, you know, with my wife last November. And together, we have about $4,000 in credit card debt. And I'm thinking it would be wise, and I'm just giving a second opinion, I'm thinking it would be wise to attack that $4,000 of credit card debt, then shock up for the move, and then move come like August, you know, just in time for my

promotion. Do you think that's a good idea? Yeah. I didn't know the urgency of having to move, but if you can control the timeline at all, absolutely. I want you to be able to get out of debt and stack up for the move, pay everything in cash. And I want you to have an emergency fund as well. But if we can do that as soon as we move, that's our next goal. I'm okay with that. And you're going to live on even less than you're living on now, even with your raise, and that's going to help you get there even faster. That's my wife and I's mindset right there.

So I was just getting a second opinion. Now, if you had to move next month, I'm going to say, hey, let's pause the debt snowball. We're kind of in a storm right now. We've got to stack up cash to pay for the move. But if you control the timeline, absolutely. Let's get rid of this credit card debt and then cut up the cards and never go into debt again. Are you getting any type of money for the move from the new company? I'm not getting any money for the move itself, but I am getting about a $3,000 to $4,000 raise.

Okay. So a month. Okay, gotcha. A month, that's great. Congratulations, by the way, on the new promotion. Very exciting. And love the call. I love the forward thing on this.

This is your lane. I'm putting you on the spot. Oh, boy. Do you know what an average move costs these days? You know, I've seen some packages out there with salaries. Sometimes they'll throw $5,000, $10,000 to help with the move situation. It depends on your life. You've got a lot of stuff, a lot of kids.

If you're moving east coast to west coast, obviously that's more expensive. I'm just curious if there was an average cost of moving. Because I tell you what, I imagine the prices are going up on that just like they are anything else. You're trying to get a truck across the country. It ain't cheap. No. But, you know, I, yeah. You're trying to get a truck across the country. It ain't cheap. No. But, you know, I've seen it's definitely going to be a few thousand dollars. It can be upward of ten.

Anything beyond that would make my stomach hurt. Yeah. You're spending more than that to move. Whew. Moving is the worst. Even just moving around town, you know, you're going to spend $1,000, $2,000 on some good movers. And let me tell you, I'm not asking my friends.

I'm big on that. Higher movers. Yeah. I think everybody pretty much agrees with that. It's the quickest way to destroy friendships. I would rather donate $20 to your GoFundMe to hire movers. Let me play devil's advocate for a second. Boy, I'm going to offer them beer and pizza, George. I mean... No. I don't want that. For back-breaking

work, and your buddy's out of shape already, and you're having to move this furniture as he dents it up. True story. Dangerous. True story. Back in the day, me and about five or six buddies, we were asked by a friend to help him move. So what do you do? You have to say yes.

So we showed up. One of my clown buddies, James, was wearing a weight belt as if that was going to support his back. You know the belt you see a lot of these movers wear, the Velcro deal? He shows up with an old-fashioned leather weight belt. I love that. As if that was going to help his poor back. That's a good friend. By the way, the weight belt came off within 30

minutes of starting the move. Alright, good stuff. George Campbell, thanks for being with me. Thanks to James, Captain of the Ship, and everybody in the control room. Thank you, America. This is your show. 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? Get your daily dose of advice on life and money. Check out all of our shows from The Ramsey Network wherever you listen to podcasts.