The Ramsey Show - App - How to Take a Business Idea and Make It Happen (Hour 1)

Episode Date: June 26, 2018

The show about you

Live from the headquarters of Ramsey Solutions, it's the Dave Ramsey Show, where daddy is dumb, cash is king, and the paid-off home mortgage has taken the place of the BMW as the status symbol of choice. I am Dave Ramsey, your host. This is your show because it's all about you, your life, your money. And it all shows up right here. Your dreams, your nightmares, they all show up right here. It's a free call, and some say the advice is worth exactly what you pay for it. The phone number is 888-825-5225.

That's 888-825-5225. Andrea starts off this hour in Alaska. Hi, Andrea. How are you? Hi, Mr. Ramsey. I'm well. How are you? Hi, Mr. Ramsey. I'm well. How are you? Better than I deserve.

What's up? It's sort of a long story, but when I was 19, my father convinced me that the only way to keep our farm afloat was to take out a $36,000 agriculture loan in my name, and it has been three years, and he has not made any payments, and I'm sort of at a loss for what to do now. And so the loan that was taken out in your name, is it a lien on the farm? We put up collateral in the form of livestock that we were going to purchase with the money, and I think a bit of equipment that we already owned. Okay. And what has happened to the livestock and the equipment?

What was that? What has happened to the livestock and the equipment? Has the bank picked it up since you haven't paid a payment in three years? No, they haven't taken any action against us. It was suggested that I take the loan and go into deferment. So they can take the bits of collateral back, but that would break up whatever semblance of a family relationship we have left. Okay.

I'm sorry, so you're 22 years old? Yes, sir. Okay. And your dad asked you when you were 18 to take out a loan, and he's not paid a single payment on it in three years. Yes. They've taken my tax returns the last two years, but that hasn't put much of a dent in anything.

Yeah. What do you do for a living? I'm a receptionist. Okay. Do you live with them still? I do, and I go to school full-time. Okay. And do you pay your them still? I do, and I go to school full-time. Okay. And do you pay your own bills? I do, and I pay a portion of rent, I guess it would be.

Oh, on the farm. Okay. Why have they not paid the payments that they agreed to pay? It's hard to say. I've tried confronting him about it, and it doesn't end well. Usually I'm in a fight, and then things don't get solved. I'm so sorry. What a horrible position for a 22-year-old young lady to be put in by her. I hesitate to use the word father. What a creep.

So are you involved in your church and your community? I'm not. Okay. All right. I think you need to seek some counsel from a family counselor and maybe a pastor and get some people in your corner because, truthfully, what's happening to you is called financial abuse. Your parents are abusing you, and they're using their position and their emotional stronghold over a young woman to take advantage of you

and really setting you up for a problem that may take you a decade to recover from financially. And so here's what's going to happen. This is not going to end well, no matter what you do. You need to come to that conclusion, okay? Your dad is not a good guy. He has not done a good thing. This is horrible, and it's not going to end well. You cannot make your father be okay.

Can you hear that loud and clear? Yes, sir. Yeah. I'm sorry, darling. I'm sorry you're facing this. But you do not have the power to make your dad be okay. He was not okay a long time before this conversation came up. And so what you've got to do is just admit he's a mess.

He's a hot mess. And he's probably not going to be happy with anything that you do because eventually they're going to foreclose on and sue you, a 22-year-old receptionist who's in school. They're going to sue you. They're already taking your tax return and eventually they're going to sue you okay and they're going to take the collateral because for some reason bozo thinks he doesn't have to pay payments i don't know why bozo thinks

this but he's crazier than a bean apparently but i don't know who takes advantage of their 22-year-old kid anyway. So I can't grasp where this guy's coming from. So he's going to be upset. He's going to be mad. And it's his fault. Can you hear that? Yes, sir. So you're going to have to just decide when that's going to be.

And you probably need some good, strong, mentally healthy people in your corner walking with you to guide you and gently and kindly stand up for yourself because you never have. You've been abused. Do you realize you've been emotionally taken advantage of? That's what you pointed it out. Okay. Do you think that's the truth yes sir yeah does it feel that way to you yeah i mean you got crapped on didn't you i mean really by your own dad i mean he has not

he's left his own kid vulnerable. And so if he were to grow suddenly manhood, grow suddenly a backbone, he'd start selling everything in sight in order to keep his own child from being harmed. But this guy ain't going to do that, is he? Probably not. No, not probably. He's not.

He's not. We know that by the fact that you're in this situation to start with. And so you're going to have to start taking some steps to protect Andrea, who is an abuse victim. And you're going to have to decide what those steps are going to be. And none of those steps are going to make him happy. I'm so sorry you're going through this. Hang on the line. I'm going to have Kelly send you a book that I want you to get a highlighter out and post-it notes,

and I want you to memorize the whole freaking book, but certainly entire paragraphs. It's called Boundaries by Dr. Henry Cloud. Because you have had someone walk over into your yard. No, they drove a bulldozer over into your yard and did donuts. Okay? They stepped all up into your stuff here. And it was your own dad, which just makes this heartbreaking but also very, very difficult emotionally to process for anyone,

but certainly for a 22-year-old living at home on the farm. I'm sorry, kiddo. Hold on. Kelly will pick up. There's no magic answer to this except him sell everything and pay the bill, and he's not going to do that. Kelly's going to pick up. We're going to send you a copy of that book.

Open phones at 888-825-5225. You jump in. We'll talk about your life and your money. Let me go ahead and help you because we have just finished some identity theft research. And would you believe that 14% of identity theft is by someone you know? And a disturbing amount is by parents who take out loans in their children's social security numbers. Or maybe borrow money on the farm and talk the 18-year-old into it.

That's not identity theft, but it's so close that it really could be categorized in the same bucket of slime. Scum. That's what's in those buckets. You parents who take advantage of your own kids? Slime. Scum. Folks, the real estate market is on fire all over the country. If you're looking to buy a home and you need a mortgage,

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This is a paid advertisement. NMLS ID 1591. Equal housing lender 761 Old Hickory Boulevard, Brentwood, Tennessee 37027. Coming up at the bottom of the hour, our own Ramsey personality, Anthony O'Neill, who speaks all across America in churches and colleges and in high schools. He'll be hanging out with us. If you've got a question, particularly young people have questions, or maybe you've got some teens, some recent graduates, or some teenagers in the house, and you have a question about that, well, you jump in, and we'll let you be a part of this and ask Anthony a question. The phone number is 888-825-5225.

In the lobby of Ramsey Solutions, Josh and Lindsey are with us. Hey, guys, how are you? Doing great, Dave. How are you doing? Better than I deserve. Welcome, welcome. Where do you guys live? We live in Dallas, Texas.

All right, cool. Welcome to Nashville and all the way over here to do your debt-free screen. That Dallas, Texas. All right, cool. Welcome to Nashville. And all the way over here to do your debt-free screen. That's right. Been looking forward to it for a few years. Very cool. Good for you. And how much have you paid off?

We've paid off $121,756. Just shy of $122,000. Perfect. And how long did that take? It took us four years and four months. Four years, four months. And your range of income during that time? We started at $87,000. And now we're at about $143,000. Okay, cool. What kind of debt was the

$122,000? Most, the vast majority of student loans, definitely. About $75,000 was student loans and then we had about six or so in credit cards and the rest was cars. Okay. All right. Very cool. Good for you. So what do you guys do for a living? Go ahead. I'm in human resources. I'm an HR manager. Mm-hmm. And I'm an architectural project manager.

Great. Cool. Well, you're doing great. What great income you got. So tell me what happened four years and four months ago. It's definitely been a long journey, longer than we thought it would be, to be honest. We got married when we were pretty young in 2011 while we were in college, graduated 2013,

and moved down to Houston. And just kind of lived by the seat of our pants, I guess, just as money came in, it went out. And my dad actually gave me a 20-money makeover on audiobook, on CDd and so i'm driving around in my corvette in houston traffic listening to total money makeover and um it was just a light bulb for me you know it was like what are you buying to impress people you know what do you really need and it was just i knew that really this car was what made me feel good and that was

just a light bulb for me. And I took it home and said, honey, we're doing this. And she was doing fine. I'd been a lazy husband. And she was doing the finances. And I came home and just took that all back away from her. Oh, that didn't go well. It went really well.

It went really well, yeah. So technically, I count the beginning of our journey as beginning 2014. But she doesn't really count it until probably 2015. I was really resistant to the whole process because I had been. Well, I guess. Yeah. I guess. Old bull in a china shop over here. Here, honey, you're stupid.

I'm going to take this over. Now that I'm smart, I listen to a CD. Yeah. Oh, yeah, that worked perfect. I was trying to read it. I was trying to read it to her. She wouldn't listen. Read her my audio book.

Yeah, exactly. So, Lindsay, at what point did you muddle your way through this mess he made and decide to get that this is a good idea? Well, we decided to take Financial Peace University together in the beginning of 2015. So we had finally moved back to Dallas, which is our hometown where all of our families live. And so once we took the class, and I actually heard it from your mouth and went through the class, I started to get it and I understood. I was still a little resistant.

And so I think our beginning was really slow. And then we started to gain momentum as we paid off that small debt and we kept moving and moving. Right. So how much, like out of the four years, what percentage of the $122,000 did you pay off in the last two? Because you really got your momentum, I'm guessing, like a bunch of it, more than half. The last two years, just over $60,000. Yeah, okay. Yeah, that's perfect.

Okay, good job, you guys. So what do you tell people the key is to getting out of debt? What are the things you need to do to make this work? I know for Lindsay, she would say having that give and take. Yeah, with him being the nerd and me being the free spirit, we definitely had to find a middle ground. I still needed to have some small victories and take maybe a small family vacation here and there. And if we would have done his plan all the way, we probably would have been done faster.

But I don't know if we would have been married by then. So just that communication and being able to understand where each person is coming from and figure out what does this look like together. Because we both had totally different ideas of how to spend our money and what to do with our money. It really forced you guys to combine your views, didn't it? Yes. Well, having accountability was huge, too, because we started teaching or coordinating FPU. We'll be coordinating our sixth one here in the fall,

as well as Smart Dollar actually came to my office as well. And so we've been doing Smart Dollar at work for a while as well. And so that's also kind of just another layer of accountability that we can have a lot of conversations with my coworkers as well. Yeah, it's freaking ubiquitous. It's all around you. It's everywhere. It's on my phone.

It's everywhere. I love it. Very cool. Well, congratulations, you guys It's everywhere. It's on my phone. It's everywhere. I love it. Very cool. Well, congratulations, you guys. Thank you. What was the hardest part? The hardest part was definitely saying no to our friends and our family whenever they would invite us to go out to dinner. And they would invite us to a great family vacation.

Lots of vacations. We have a lot of friends that love to travel. And that's my love, too. I love going to new places and so trying to um balance that and tell them we'd love to go but just not now and we need to wait until we finish our journey and um that was definitely the biggest struggle for myself you know if you travel like no one else which is not at all and then later you can travel like no one else, baby. I mean, stay in some very cool places. One of some of the motivation I gave to her was, or at the beginning, I was like, honey, name,

because we just, I actually haven't been outside the U.S. And I said, Lindsay, name me where you want to go, and when we're done, we'll go there. Yeah. So where are you going? So we're going to Italy next year. Yum. Great trip. Great trip, you guys.

Well, Sharon and I, nowadays, we do a lot of three-day things or four-day things. As a matter of fact, I got back this morning from one. Today's my anniversary for 37 years. Congratulations. Thank you. So we were just spur of the moment, took off, went and did a very, very nice weekend. And we were just talking all weekend about how spoiled we are. But we live like no one else, and now you can live and give like no one else.

Way to go, you guys. I'm very proud of you. Appreciate it. Excellent job. Excellent job. Did you have more people, detractors, telling you you're crazy, or more people cheering you on? Honestly, I think we had people who were supportive, but it wasn't necessarily people who were

involved in the curriculum, so they weren't going, yeah, you can do it. It was more of a, all right, well, I guess we'll do the vacation with you next time. So really, we felt kind of plowing our own road for the most part. Good luck with that, crazy people. Yeah, yeah. Okay. Well, well done. Josh and Lindsey, we got a copy of Chris Hogan's retire-inspired book for you.

Want that to be the next chapter in your story that you not only become debt-free, but now millionaires and outrageously generous along the way and travel the world, baby. Go for it. I love it. Josh and Lindsay, Dallas, Texas, $122,000 paid off in four years, four months, making 87 to 143. Count it down. Let's hear a debt-free scream. In three, two, one's hear a debt-free scream. In 3, 2,

1. We're debt-free! We love it! Well done, you guys. Absolutely fabulous. That's as good as it gets right there. Well, that's how you do it. There's no magic pill.

You're not instantly going to wake up one morning and be successful at anything. You're going to have to be incredibly intense and intentional. Intense and intentional. These are the things you went at are the things that you bother to care about. If you bother to care about your physical fitness you will get yourself physically fit if you bother to care about raising your kids you'll raise good ones if you bother to care about dot dot dot fill in the blank and the same is true about getting out of debt you got to bother to care you got to care so much that you're willing to put some other things aside no discipline seems seems pleasant at the time, but it yields a harvest of righteousness. Young people, lines are opened up for Anthony O'Neill

and parents of young people. Lines are opened up for Ramsey personality, Anthony O'Neill, author of the best-selling book, The Graduate Survival Guide, Five Mistakes You Can't Afford to Make in College, coming up right here after the break on the Dave Ramsey Show. For years, I refused to endorse any company that claimed to get people out of timeshares. I told my listeners it's a horrible product and that, unfortunately, they didn't have a lot of options. Then a few years ago, I sat down with Brandon Reed, the owner of Timeshare Exit Team. Brandon walked me through the Timeshare industry, and I learned that you can't sell them, and you can't even give them away. And then we talked about Timeshare Exit Team's process. Every ownership situation is different, which is why they have more solutions than any other company. And that's when they earned my respect. Don't call any of the imposters out there, and there's a lot.

The only timeshare exit company I stand behind is Timeshare Exit Team. They have exited thousands from their timeshare burden this year alone. Yes, you will write them a check, but they stand behind their guarantee. They will get you out, or they'll give you a full refund. Call 844-999-EXIT. Online at timeshareexitteam.com. Ramsey Personality, world-class communicator, speaker, and best-selling author Anthony O'Neill joins us this half hour. Anthony specializes in speaking with college and teens and churches, and for that matter, anyone all across North America. And if you'd like to speak with him while he's here with me this half hour, this is your time to get in, particularly teens and parents of teens.

The phone number is 888-825-5225. Anthony's got a bunch of upcoming events in the fall. A bunch of them. Going to be involved in several different things here. The Smart Money event is September the 20th in Charlotte, North Carolina. Looks like you and Chris Hogan are doing that one, right? Yes, sir. We had an amazing time last season.

Looking forward to it being in Chicago. Not Chicago, Charlotte. Charlotte. And then Kansas City will all be doing the Smart Conference together, the day-long event, October the 13th. That event is already about 70% sold out. And I know it sounds like October is a long way away. This one's going to be gone, and you're not going to get your tickets if you don't sign up quickly.

January the 12th, another smart conference. Anthony will be one of the featured keynote speakers at that as well. And that's January the 12th, Dallas, Texas. Smart conferences are fun. Too fun. Too fun. I tell everyone my topic right now dave and it's a topic i believe every parent needs to know whether you have a young kid older kid or you

expecting kids in the future but it's the 10 things your kid needs you to know and this is just off of a study that over the last 13 years being in the youth ministry and youth space learning what are the 10 things students young people need their parents to know to have a productive and a better connection with their parents. And so a great talk. I'm excited about it. Very cool. It's going to be great.

Good stuff. And the Graduate Survival Guide continues to be a best-selling book, particularly around this time of year with all the graduates, people graduating from high school. Five mistakes you can't afford to make in college, even if you have a graduate now that we're down into summertime, or you know a graduate, that's just something you don't have to give them a graduation gift. It could just be a gift that says, hey, these are stupid things I did in college.

Don't you do them. It's kind of what the book's about. It's a book and a DVD that you and Rachel Cruz did together. It was a great book, Dave. My only sad part was I didn't put all my mistakes in there, but we put my top five. We don't have a book. We can't do them that thick. No, sir.

We have to be able to. But it's a great book, Dave. I mean, we've sold thousands and thousands of copies. And every single day, we're just getting praise reports from teenagers, from college students, thanking Rachel, myself, you, this whole team for putting together this product and it's just been an amazing product i wish i had this when i graduated high school to be honest so i had a kid call me the other day the first time it's happened so far um that was uh 12 years old okay and he already had his small business going from the teen entrepreneur toolbox and we're're starting to hear back from parents.

This is a toolbox that Anthony put together with our team here, and it's everything your team needs to start and run their own business. Entrepreneurship is something parents are very interested in their kids knowing, and kids are very interested in doing it, whether they're 12 or whether they're 17. You can make more doing your own thing they're 12 or whether they're 17. You can make more doing your own thing than you can flopping whoppers. Absolutely, Dave. Our team found out that nearly 50% of teenagers want to start their own business, and 70% of parents, nearly 70% of parents want their teens to start a business.

They didn't know how to do it. And so after our research, we put together this product to help parents and to help teenagers start and launch their business. And Dave, we're getting praise reports. I had a young kid, my neighbor, who's actually doing a lot of stuff for me at my house. You know, he has a toolkit and he's just saying, I love this thing. Like every single day he's asking me, what can he do to make money? You know, but it's showing these young people how to have business skills and how Chris Hogan always says business skills are life skills. So we're accomplishing two things at one time.

And, Dave, nearly 8,000 copies of these toolkits have been sold. They've only been out for, what, nearly two months? Yeah. Amazing. About 60 days, yeah. Yeah. Between 45 and 60, actually. So it's about – it's doing a little better than we thought it was going to do.

I mean, we knew it would sell because we knew the parents were just very interested in this, but the number of units, I mean, we didn't expect to sell a million copies in the first month or something, but I think we will over time. Because I think the interest is just there. And the side hustle has kind of become an American way of life. It is. The idea of you can start and run your own thing, and the Internet has given people ease of entry into distribution systems and methodologies as an adult doing a side hustle. And so they start seeing the value of teaching a kid how to run a P&L,

teaching a kid how to set a goal, how to think through a business model. And these teenagers, man, they're smart. They're quick on the draw on this stuff. It's a lot of fun. All right, Ashley is with us in Richmond, Virginia. Ashley's got a question for Anthony. What's up, Ashley? Hello, Steve.

I am currently about a year away from graduating college with no debt. However, I have two very different choices facing me right now. I can either go to aviation training, which will have a lot of debt alongside of it, or I can go to graduate school debt-free. Okay. And what would you study in graduate school? I would be getting an English PhD and trying to be an English professor. Or be a pilot.

Yes, sir. That's kind of two ends of the spectrum. Okay. So, Mrs. Pilot, what do you have a degree in? I've got a PhD in English. Oh my goodness, wow. So have you been flying? No, sir.

I just scheduled one of my first few lessons so you get the bug bit you the bug bit you now once you get behind that stick it's hard uh man that thing's addicting yeah that's uh yeah there's a lot of people get doing that and so okay let me ask you this um and then i'll let anthony jump in what do you you're how old today i'm 20 20 okay let's talk uh to the 40 year old you you're 40 years old right now in our conversation and for the last 20 years you've been doing a career that makes you smile and that you make really good money doing which one one was it? English professor. English professor.

So why flight school? Just because it's fun? Yes, I think I would enjoy it, and I know the field is a bit more stable than the English professor field, which is really not doing very hot. Oh, I'm sorry. I asked you which one when you're 40 you will be glad you did for the next 20 years, and you said English professor.

Yes, sir. Okay. Oh, so you're afraid that that career is tougher to break into than piloting. Yes, sir. The job market continues to not look so hot. I got you. Okay. You know, Ashley, I hear in your heart you're interested about this flight training.

But I would actually question you as far as into a little bit more researching and as far as in the grade school option for to get your degree to be an English professor, because I would honestly say it's going to be a little bit harder for you to get into flight school and to be to be flying a plane, then to become a professor, because you're only looking at it from a college perspective. But you could be a private professor tutoring college students or start your own practice in some way or form or fashion. And so I would say go to debt free route, because when you're 40 years old, you can look back and say, hey, you have a degree, degree you're debt free you've impacted and helped a lot of people become better educated wise i think that's a great route to go dave i agree i agree plus it's what you said you wanted to do yeah i think the only reason you're doing fight polite school is a you kind of enjoyed it the bug bit you and oh this could be cool because it might be easier to get into or more stable and i i agree with anthony i don't think that assessment's correct.

I think it's probably both of them are going to be tough. By the way, being successful at anything's kind of tough, whatever you're going to do. Right. So being the top dog on the porch, being the big dog on the porch is a big deal. And it takes some scratching and clawing and fighting to get to do that, whether it's English or the flight school. So I would say go be an English professor and then pay cash and get your pilot's license as you go along out of your income that you create,

and that will give you an option. The only other thing that popped into my head was if you really, really desperately want to be a pilot, go join the military. Yep. Let them pay for it. Let them pay for it. Let me pay for it. I'm the taxpayer, so I'll pay for it.

But don't go into a hundred thousand dollars two hundred thousand dollars in debt to become a pilot whatever it is you're going to spend these flight schools are all over the map in terms of what they charge um and then hope you can get a job um making 60 no no and that's what a lot of entry pilots sir it's not good out there right now so i know i, I'm with Anthony. I hear college professor in the future. You do what you want, but that's what we hear. Just talking to you for a minute.

Good luck with that. God bless. Folks, turnover is bad for business and it's expensive. That's why I recommend ZipRecruiter. ZipRecruiter is a place where growing businesses connect qualified candidates. They make it so easy. When you post your job with ZipRecruiter, they send it to over 100 of the web's leading job boards. But they don't stop there.

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That's ZipRecruiter.com slash Dave. ZipRecruiter, the smartest way to hire. Ramsey Personality, Anthony O'Neill, author of the best-selling book, The Graduate Survival Guide, Five Mistakes You Can't Afford to Make in College. This book is a full book for a teen that's just graduated from high school. Anthony and Rachel Cruz did it together. It's got a DVD in the back of them walking you through the things, as well as the actual pages of the book itself.

And it's a high-quality, nice gift book. That's why it has sold so well. And that one has sold tens of thousands of copies. The Graduate Survival Guide, Five Mistakes You Can't Afford to Make in College. Matter of fact, I think we're over 100,000 copies on that puppy now. Bree's with us in Iowa. Hi, Bree. How are you? Good. How are you? Better than I deserve. Your question for Anthony. Hi. I was 18 at the time, and I got six store credit cards, as a very immature 18-year-old might do. And I've been going to school online to pursue my bachelor's degree while working full-time. I'm just wondering, in order to pay all of those off and all of my financial expenses at the moment, what your best suggestion would be to keep side hustling, keep making that money to pay off those bills? Good for you.

How old are you? I'm 23. And what are you studying online? Business administration. How far before you graduate? I have about a year left to get my bachelor's. Good for you. Okay. Thank you. Okay.

Thank you. Good. Hey, Bree, we've all done stupid in the past. You've heard Dave say that. I know I have, so don't feel bad, but let's go ahead and get out of it. How much debt do you currently have right now, Bree, altogether? With just those cards in my car that I currently own, I have about, I'd say, $12,000. Okay, $12,000. And how much are you bringing in a year?

I want to say $24,000. $24,000. Okay, cool. Last question, then I'll give you my advice. Are you staying at home or are you living on your own? I live in an apartment, yes. Okay, cool. Great.

So this is what I'm going to recommend, Bree, is to follow our baby steps. It's going ahead and set aside $1,000 for your emergency fund. Now, with you making $24,000 a year, you're probably spending anywhere between $600 and $1,200, I would say, in rent a month. So you probably have about bills right around $1,500. I see you getting out of debt literally within about a year, a year and a half. Now, you have to get on a real strict budget and stick with it, Brie, though. Like with us millennials, we have a problem with sticking with the budget when we see other nice things, when we want to go out to eat with our friends.

But I promise you at the age of 23, if you could finish your degree debt free, spend the next year and a half focused and determined, you will be debt free, educated and walking into a good career space. So what a side hustle that is have you got worry um well i just actually got a side job cleaning businesses at night it's only about 15 hours a week but i mean that would chip away at some of it i would hope was it 25 an hour what was that how much are they paying 25 an hour 12 an hour 12 an hour? What was that? How much are they paying, $25 an hour? $12 an hour.

$12 an hour? Yep. Okay. That's a little slim for that gig. You're working for somebody else, though. It's not your account, right? Right, right. Oh, okay. All right, that's what you're doing there.

All right, cool. You know, what I would look at, too, is see if you can pick up – you could probably pick up a home to clean on the weekend, on a weekend gig. And if you just pick up one, you can make $25 an hour doing that, probably. That's where I got that number. We're running into a lot of people doing cleaning as their side gig. And, you know, the good news is if you bust it for a while, you won't have to do that for long.

And that does, if you can make $1,000 a month between these side hustles, which you've already identified, and then live out of the 24, you're out of debt in a year. You finish this business degree, and your income is probably going to roughly double at that point once you land the, quote, big job, unquote, coming out of that. So you're doing all the right steps that the 30 year old you is going to like the 23 year old you when they look back so you're

being very smart you're asking the right questions you're being very wise um but you you have figured out it is all about generating income because the formula is sadly very simple it's income minus outgo yeah and so anthony's right've got to stay out of the restaurants and stay out of the clubs and we've got to just work. And the good news is if you're working all the time, you haven't got time to spend money. Absolutely. And Dave, one thing I recommend to her is to check out Christy Wright.

Get a copy of her book, Business Boutique. Go to businessboutique.com and she's really doing a good job teaching young ladies how to really start that side hustle, start their own business and get that extra income. Now, the trick is to try to not just take a second job, but take one that you really make some serious money. Yes, sir.

Because the goal is not to work a second job. Yeah. The goal is get out of it, and the more you make, the faster you don't have to do it ever again. There you go. And that's the process we're working through. So I'm always looking for a way that I can take some of this, I don't know, some of the time you've got, some of the energy you've got, some of the skills you've got, and parlay them into something else. So if you could get two houses to clean, you could drop the $12

and do them in the evenings, if there's such a thing. I don't know how many people want you to come and clean their house when they're at home. A lot of the times that's a day gig, but that kind of stuff, since you're not afraid of hard work, that'll get you there. But anything you can do that you can pick up to, you know, dog sit on the weekends for somebody. Babysit. Housesit. Babysit. That kind of thing.

All of that stuff's paying up in the 20s in most areas of the country or more right now. And people are paying more money to wash their dogs than they are to kids. It's kind of a weird thing that's going on out there with animals. I'll just tell you, I love animals. I'm an animal nut. But, man, the money some of you spend on your animals. And it's people like Breeze who needs that money. So let her come take care of your dog or whatever you want to do there and you know the teenagers are doing this with the uh that

side hustle thing like we're talking about earlier yes the pet thing is really big with them we're hearing from a lot of them on that on the teen entrepreneur toolbox that's actually one of our main stories inside the teen entrepreneur toolbox dave just one kid will make anywhere between five to ten thousand dollars a summer just from watching dolls. So from June, July to about half of August. Watching or watching? Watching. So literally watching, which includes washing.

Okay. Both. But he'll watch them, wash them, walk them, feed them. A lot of W's there, trying to be clear. But, I mean, Dave, I mean, I could do that. I mean, that's, it's not, I don't know. It could be fun. It could not be fun.

But here's the thing. If you love animals, it is. Yeah, if you love animals, it is. But making $10,000 in two months, that's fun. Yeah. Yeah. That's some serious bucks. And that's how you end up, some of you that are wondering as teenagers, how can I go to college debt-free?

Yeah. And, you you know work is one of the things you and rachel talk about when people when you're answering that question and the key thing there is they do things that other people do not want to do and if they do not want to do like for me if i had a dog i probably wouldn't want to uh wash them all the time you come over to the house wash them i'll pay you good money or um if i want to go out with my my wife when i get married down the road hey come watch the kids come watch the dog this that's the key thing that we're teaching young people one of the key things we're teaching young people in this app

um and in the teen entrepreneur toolbox is be willing to do the things that someone else is not willing to do so you can gain the money and have what these other young people do not have so that's why he's making so much money wow and we're hearing that back a lot on different things like this so yeah it's amazing and the other thing you'll find is is that um if you will there's a bug that bites you the entrepreneurial bug once you start identifying a way to serve someone that makes them smile. And as Ken Blanchard says, the profit is the applause your customers give you. And as Rabbi Lappin says, he says, they'll give you certificates of appreciation with president's faces on them.

And so when you can find a way to serve someone, whether you're 40 or whether you're 14, if you find a way to serve someone, to help them get a better life in some way, they will give you certificates of appreciation. They really will, Dave. There was this 15-year-old, loves playing golf. You know, we play golf. And he posted online that he was actually a caddy. And his tip for caddying just for nine rounds was $125.

So just carrying someone's bags and hey. That was his best tip ever. That wasn't his average tip. Yeah, that was his best tip. But it's like what he did, he said, you know what? I'm going to turn this into a business. So now what he does is he partners with local golf stores, not golf stores, but golf courts and says, hey, anybody wants to caddy,

I'll caddy for $25 a round. And I'm like, that's not bad. That's a good idea. Especially if you're good at golf. Yes, sir. There you go. Very good. All right.

Anthony O'Neill, Ramsey personality. Always working golf in the conversation, aren't you? I just caught you. I just saw you do that. Oh, well, there you go. Good stuff. Thanks for hanging out with us. This is The Dave Ramsey Show.

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