The Ramsey Show - App - How to Talk to Your Spouse About Money and Debt (Hour 1)

Episode Date: June 20, 2019

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Music Music Live from the headquarters of Ramsey Solutions, broadcasting from the Dollar Car Rental Studios, it's the Dave 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. I am Dave Ramsey, your host. Thank you for joining us. Open phones this hour at 888-825-5225. That's 888-825-5225. Amanda is on the line in West Virginia starting off this

hour. Hey, Amanda, welcome to the Dave Ramsey Show. Hey, Dave, How are you? Better than I deserve. What's up? Well, I guess I was just calling with a question. Currently, my husband and I are on baby step number two. We have our $1,000 savings, and we're working on paying off some debt. We've been in it for about three months. However, my son, every once in a while, like just today, he had to go to the doctor, have an x-ray and blood work, and it's going to be about, they offered me to pay it on the spot there with a 15% discount or just pay the full $600, but I wasn't quite sure if that's something that needs to just be added into our debt snowball or if I should be pulling that money out of our emergency fund to pay it to prevent more debt. Is this an ongoing thing?

No, it's not. I mean, I'm still trying to pay off from where i had he's he'll be two next month but i had to have a c-section and we do monthly payments on that still so that's part of the debt that we're paying on yeah but i'm asking i mean the the uh blood work on a two-year-old and an x-ray for 600 bucks why um well honestly he he tripped and fell in the yard yesterday when he was out playing in the sprinkler and the doctor thinks i don't know he just said it could be worse than that and i should of course we had to do an x-ray i thought the blood work was a little excessive but um no this isn't something he regularly has to do any other doctor visits have just been you you know, a running nose or whatnot. Yeah, okay.

No, I mean, if you guys can squeeze it into the budget this month and it slows down your debt snowball, I'd just pay it. It's an on-the-spot expense, and take the 15% discount, right, and just go ahead and take care of that. But if it's an ongoing thing, you need to put it as a budget line item, but it doesn't sound like it is. It sounds like it's an accident in the yard. So, you know, it's just part of raising kids, right? They get bumps and bruises, and that's a pretty serious result from a bump or a bruise. But anyway, yeah, just you slow down your budget, and you cover something that pops up like that and you reset your budget if you can absorb the 600 in this month that's what i would do out of your budget and lower what you are paying you know slow down

what you would have paid on debt instead it went to the doctor for x-rays hey thanks for the call open phones at 888-825-5225 john's in indianapolis hi john welcome to the Dave Ramsey Show. Hi, Dave. I am currently in baby steps four, five, and six. And I was wondering if I should stop investing my 401k because I might be entering storm mode due to a job loss. You might be what? Entering storm mode due to a job loss. Oh, you think you're about to lose your job. Yeah. You mean a storm is coming.

I see. Okay. All right. Metaphorical storm. Okay. Yeah. Why do you think you're going to lose your job? Due to talk around the place I work at.

Do you have your emergency fund of three to six months of expenses? Yes, I do. Okay. What do you think the probability is you're going to lose your job? 10%, 20%, 100%? Probably 50-50. Okay.

All right. But you've not had any conversations with management that indicates this, just rumors? Correct. Okay. No, I'll just keep going. Do you have six months of expenses or three?

Yes, I do. I have six. Are you married? Yes. Does she work outside the home? Yes. What does she make? About $30,000 a year what do you make about 60 okay no

i wouldn't stop anything i'd keep going there's always rumors of wars and rumors of famine um when it actually looks like it's going when i when i have a high probability that it's going to occur i might stop everything but 50 50 on rumors around the break room is not a probability I'm going to stop my plan for. And you've got her income coming in, and you've got six months already set aside. So that's what your emergency fund is for. You're in pretty good shape. So, nope, wouldn't do that. Thanks, man.

Appreciate the call. Open phones at 888-825-5225. Justin is in Norfolk, Virginia. Hi, Justin. How are you? I'm good, Dave. How are you? Better than I deserve.

What's up? So I've got a question. My wife is currently in the military, and I just got out a few years ago. We're living in Norfolk, Virginia right now. We'll be moving back to Texas once she gets out. My question for you is, should we wait until we have paid off our debt and have a guaranteed job opportunity before moving back, or would moving back after a year and a half and trying trying to start there, be okay.

What do you do now that you're out of the military? So I am doing a few things. First and foremost, stay-at-home dad. When my wife comes home, I go to the church. They were gracious enough to give me a job to help pay off debt with whatever hours I have free. So what are your long-term career goals? to give me a job to help pay off debt with whatever hours I have free. So what are your long-term career goals?

Currently I'm enrolled in school right now. I'm going for a cybersecurity certificate, and I should be finished with that in about 12 months. And when will she get out of the military? A year and a half. Okay. Well, I'm going to, you know, obviously avoid that on the cybersecurity certificate. That's a great cert for you to go get, so a hot space for you to go get a job in.

But as you approach your 12-month graduation point on that, and she approaches her time to leave the military, I think you both looking for jobs in texas don't you that's correct yeah and you go get you a job in texas and then you go to texas but you don't have to be out of debt to go to texas that'll go with you to texas yeah definitely a lot you know it's just and you'll be making more money there both of you both yeah both of you will be working in Texas. Right now, it's only one of you working, so it's going to be better there. Yeah. But, no, I would not tell you to both be unemployed, pull up stakes, and move to Texas and hope.

No, you need to, you know, these are predictable events. You have a 12-month timeline on your cert. We've got an 18 18 month timeline on her leaving the military it's very predictable so you know when to start you know when you can start your new job and you need to start looking for them now okay begin the process so that you've got something lined up and you step straight into it as soon as you finish the certificate and or she finishes her her her time in the military but thank you to both of you for serving we appreciate it but yeah just develop a game plan and execute the game plan

that's what we're doing here but i wouldn't move on a whim um and a hope and a prayer and a wing and all that stuff no thank you you can you got plenty of lead time here to get everything tied down and led up led up to and step right straight into it. This ought to be seamless because you've done so much back work on it. It makes it real easy. A lot of extra planning takes the pressure off of stuff. This is the news, guys. You need to stop and listen.

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looming over your head every month? Just go to ChurchillMortgage.com or call 888-LOAN-200. Their team of experts will give you more clarity about your options and more peace knowing you're saving significant money in the long run. Call 888-LOAN-200. That's 888-562-6200 or churchillmortgage.com. Thank you for joining us, America. We're glad you are here. Patrick is with us in Seattle. Hey, Patrick, welcome to the Dave Ramsey Show. Hi, Dave.

Thanks for taking me. Sure. How can I help? Well, I'm on Baby Step 1 with my wife. We did it about three months ago, though, and we've just stagnated. We're still using the credit card. Just bought a new car. And the thing is, we're not really – I finally convinced myself that it's time to cut the credit cards

and really get rid of this debt, and I need to convince my wife of it. But I haven't even tried yet. My question is, you know, if she wants to go to Costco today to buy groceries on the credit card, do I put my foot down or do I let her, you know, do I slowly convince her within a week or do I put my foot down and say, no, we've got to stop? You have money or not? Yeah, we've got $4,000 in the bank account.

Why not use that at Costco? She likes the perks that the cards give, you know, the bonuses that they give out and the miles and stuff like that. So what kind of stupid car did you buy? Hyundai Elantra. Geez. Brand new, huh? Yeah.

Yes. What did you pay for that? $14,000. Okay. What's your household income? That's about $140,000 gross. Okay. And you're broke?

Well, we've got $66,000 total debt with two cars and credit cards. Sounds to me like you're broke. Yeah. You make $140,000 a year and you're broke. How old are you all? Well, I'm 32, and she's 31. Yeah, and you're broke. We've got four kids and a fifth one on the way.

I think one of our issues, Dave, is I'm a cop, and the job is so secure that we're not even scared of our debt, you know? You ever meet somebody when you're being a policeman that should be scared but isn't? Yeah. You're broke. You have five kids. You make $140,000 a year. You don't have nothing.

You ought to be scared. I am. Now I am, Dave. It took me a week of reading your book and listening to your show, but now I am, and I need to commit to my wife of that, too. Okay. So it's not a matter of putting your foot down. It's a matter of talking through why, not what. The credit card at Costco is not going to kill you one way or the other.

You don't went and bought a $14,000 car. How is a credit card at Costco going to screw this up right so uh one time you know so it's not a matter of that it's a matter of you guys need to sit down and go okay we make 140 000 a year number five's on the way we're broke this ain't working continuing to do the same thing over and over again and expecting a different result is known as insanity. Right? Yep. This is the discussion. So, honey, I mean, I don't want to work like this and have nothing.

At this rate, these kids are a student loan looking for a place to happen. At this rate, our retirement is not going to be pretty. At this rate, we're going to feel like a rat in a wheel our whole life. I don't like this. I think we can do better. Let's sit down and talk about what we could do and how we might actually win and why we need to win. We have five little birds to feed here. We need to win. We need a family tree change.

We're wasting $140,000 a year with our money philosophies our money philosophies apparently suck this is what it sounds like right it's not about oh wagging your finger about you know you went to costco and used a credit card that's not it i mean we need to get up under this and go why in the world would anyone keep living the way you're living and that's the way you talk about it you talk about why because honey we make enough money we shouldn't be broke we make enough money our retirement should look like millionaires uh we make enough money these we have to pay for these kids college and save up and do that we make enough money that we ought to be able to live without financial stress and yet we live hand to-to-mouth making $140 a year.

This is kind of sad, don't you think, baby? And you start about, you see what I'm doing? You're getting up under it and talking about why we need to do this, why we need to do this, why we need to do this, why we need to do this. And then you worry about what we need to do. If you start working on what to do before somebody's going along with the why all you are is a bossy person then okay but you make enough money to not be broke and you're broke that's your why agreed i agree yeah i mean it's not you know you look good on the outside but it's a complete fraud. You're broke. You know, and when you start saying that out loud like that, like I've said it to you 10 times in this conversation already, trying to make sure you understand.

You know, when you start saying it out loud like this, it really kind of shakes you up. And that's what happened to Sharon and I. We went, you know, we went broke, you know, and we're looking at we're stupid. We can't be stupid anymore. Stupid's making us broke. And we're looking at each other going, I won't be stupid anymore. And she goes, I don't want to be stupid anymore. And we're not going to do this stupid stuff anymore.

And we just started talking about it out loud because everybody walks around acting like everything's OK because their car payment is current and so they say stupid butt stuff like i can afford the car you can't afford the car because you didn't pay for it so we know you can't afford it that's why you have a car payment that means you couldn't afford it that's the very definition of couldn't afford it you are a total fraud you're faking it i'm talking to everybody else out there now anthony okay so i mean uh patrick so thank you for serving on the police force sir and i appreciate you protecting the folks in seattle now you guys need to sit down together join arms not wag fingers join arms and talk about the future and how it needs to be different and the way it's going to be different is we have to pay a price to change this crap because it ain't working. We're broke.

Thanks for the call. Anthony is in New Jersey. Hey, Anthony, welcome to the Dave Ramsey Show. Thanks for taking my call, Dave. I think you're a blessing for so many people. I will keep it pretty brief. Definitely your advice, I appreciate a lot. I'm having a tough time figuring out a magic number for this one. Pretty sad situation.

My wife, after 27 years, passed away about a year and a half ago. What happened? It was a heart attack suddenly. I'm about to be 50 years old. I have twins, a boy and a girl that are 13 years old. I'm pretty, I consider myself very financially responsible. And my question to you is, I don't know what the magic number here is on life insurance for myself. I do have life insurance now. I have term. Like I said, I'll be turning 50 shortly. I have $2 million

as it is now that will end. I have one policy that ends in about a year, a couple of years. The big policy, the $1.5 million would end when I'm 63 years old. I have been in contact with Xander. I'm in the process now of taking out some more, and I said it would be great to speak to you. I didn't think I would get through today. What's your income? It's $100,000. Okay. Well, I don't know why you would need more. That was my question.

Yeah, a million and a half until you're 63 will take care of you. The other policy is going to expire in a couple years. You can keep it until then. But, I mean, when you're 63, these kids are going to be, I mean, that's 13 years, so they'll be 26 years old. They should be on their own. When you're 63, there's not anybody counting on your income. Right? Correct. Because you have two 26-year-olds that should be self-sufficient. They should be. That's my concern. Well, I mean, if they're 26, I don't have to leave them

life insurance money. Okay. I'll leave them a work ethic. I can leave them the ability to tell the truth, brush their teeth and all that kind of stuff. I can leave them that kind of stuff. But at 26, you can probably figure it out. You don't need a million dollars. But if you're 13, you need somebody to help take care of you. That's how it works.

So, yeah, you keep this policy in place until then. And, you know, I would name a family trust as your beneficiary. The money goes into a trust to take care of the 13-year-olds. And if possible, if you have trustworthy people, I would have a different trustee on the trust than I had on who's going to be raising the twins if something happened to you between now and the time that they're out of college. And then, you know, I think you've got plenty of insurance, though.

You're in good shape as far as that goes. And the more wealth you have, the less insurance you need, too. We didn't even discuss that part. But you're in good shape. This is the Dave Ramsey Show. Thank you. In the lobby of Ramsey Solutions, Russell and Mary are with us. Hey, guys, how are you? Hey, how are you? Better than I deserve.

Where do you guys live? I live in Timberlake, North Carolina. It's about an hour north of Raleigh. Oh, very cool. Good for you. Well, welcome to Nashville and all the way over here to do a debt-free scream. Yes. Love it.

Congrats. How much have you paid off? Just about $84,000. Good. How long did this take? About 22 months. Good for you. And your range of income during that time?

We started out around $150,000 and we're now at $170,000. Good for you. What do you all do for a living? I'm a high school science teacher. I'm a scientist in the agricultural industry. Very cool. Good for you. What do you all do for a living? I'm a high school science teacher. I'm a scientist in the agricultural industry. Very cool. Good for you all. What kind of debt was the $84,000?

Well, actually, the other day I started writing it back down and figuring it out. And you see we're very diverse in our debt portfolio. It was just about everything. Oh, you're normal. Yes, very normal. Living the American dream. We had five or six credit cards, two car loans, and also a student parent plus loan. Oh, wow.

Yeah, you're just like normal, just bebopping along. Oh, yeah. Okay. How long have y'all been married? 20 years in July. Yeah. Okay. So 20 years, you've just been doing normal stuff.

Absolutely. Just have debt and probably had debt the whole 20 years, hadn't you? Yep. Oh, yeah. Okay. So what happened 22 months ago? What blew this up? How did we run into you?

Well, I ran into your show. I was listening to talk radio during the 2016 election. And you came home to the station every day at 6 on my drive home. And at first, I was like, I didn't know who you were, actually. And I thought it was just talking about investment and stuff like that. So I would flip the station, and then one day I just left the station on. I only had to hear you one time for it to change my mind and realize that we needed to do something different. Really?

Yeah. What flipped the switch that quick? I guess we had been in credit card debt pretty much since the beginning. And I guess I had known for a while that we made way too much money to be broke, to not have money. And I had known for a while in my heart that something needed to change. And I just needed to hear your message. Okay. So you go home and you talk to Russell.

Russell, what did you say? Well, I was kind of apprehensive at first. I was like, I don't think we're in that bad of a situation. And she just kind of kept on, kept on, kept on. And we had that one big conversation, that unpleasant conversation where it just all came out. She knew about some debt that we had and didn't know about other debt. And so we just had to get all that out on the table. And once we did that and there were no secrets anymore, we could move forward.

But it took a really long, hard conversation. Yeah, and when you pile it all in the middle of the table and you're having that big fight, you know, that at the kitchen table fight, that good one, you know. After 20 years, you know how to have a good one. Yeah. And so you pile it all in the middle of the table. It gets real then. Yes. Yeah, it got real.

And so you had to go, okay, she's right about the fact that there is a problem. Yes. And so, okay, now we're both scientists, and so we say, if there's a problem, we need a hypothesis, right? We need a plan. Oh, wait a minute. There's a proven plan. We don't have to guess we can use the proven plan yeah that's good okay well i'm guessing the way your minds work just in your formal training uh really made just adopting this emotionally easy yeah i i mean that same night

we ordered uh the book the total money makeover we got two copies of it, one for us and one for our son and then his then-girlfriend. They just got married last month. Oh, yeah. Good. And it was read the book. She had to kick my butt one time to finish the book. Okay. But once we read the book and it seemed like something we could do, we rolled with it. Yeah. Okay.

So game on. Yeah. And now 22 months later you paid off eighty four thousand dollars when you were sitting there the first time going through the book and you're looking at this going okay this this sounds kind of right did it ever emotionally occur to you that you could do this in less than two years uh we originally didn't have less than two years as our plan and we actually accelerated at the end because our son proposed to his his girlfriend oh and so one of my goals was always to be able

to give my children a large wedding gift and when he proposed earlier than we expected and they set their wedding date we knew then that we there's no way we'd be able to give them this wedding gift, which was a goal of ours, on the pace we were going. So we had to actually jumpstart it a little faster. So I think we probably got it done about four to six months quicker than we had originally planned. Yeah, game on then. You had a real reason. And it starts to be a game in there it's like

okay we're yeah can we go faster yeah can we go faster yeah can we go yeah you know and it's that that's the the way it starts to unfold so very cool you guys all right who were your biggest cheerleaders i think probably each other yeah i'd say each other and our our children were cheerleaders uh to some extent they were a little disgruntled about it to start off with. But I think once we kind of got them on board of why we're doing this and what it's going to mean for our family once we get this accomplished, they were cheerleaders too. Amen. Very cool. Good for y'all.

So there's a couple out there that's been married 20 years. They're normal. What do you tell them? Should they do this? Could they do this? And what would they do if they want to pay off $84,000 in 22 months? Well, I think it starts with that unpleasant conversation. Yes.

Building up the courage and just approaching your spouse or your partner and say, we have to change. And just lay it all out on the line, have that conversation and communicate. Anything else? I mean, yeah, I think so many married couples, especially when you've been married as long as we have, you become comfortable in your daily roles. I had the higher income, and so he took care of the finances.

That was kind of our split split if that makes any sense and so i didn't really have any idea of you know what our financial situation was where it was going i didn't want to know i figured i to me it was his job and that's just no way to have your marriage right right there's a lot more cleanliness in the relationship when everything's on the table all the time i think too don't don't feel ashamed about it um you just have to get over that you're in debt you make too much money to be in debt just have the courage to say hey put my foot down and we're gonna get out of debt we're gonna change this yeah it was really hard for me to have that first conversation with him because i felt so guilty about my role where we got.

So I think getting over that guilt and shame to be able to actually have that conversation is really important. Okay. So he was handling the money. Why did you feel guilty? Because I was spending it. Oh, okay. Okay. Yeah, you keep throwing balls in there while he's juggling.

Yeah, pretty much. Okay, I got it. Right. And she makes all the money so she gets to spend it all. So I would feel bad about saying, hey, no, you can't buy that. Yeah, and all that dynamic's completely changed now. Now we're a team. There's one pile of money in the middle of the table we are going to do this with for us as a gang.

Way to go, y'all. I'm so proud of y'all. Well done. Very well done. We've got a copy of Chris Hogan's book for you. Every Day Millionaires. You will be one soon. No debt and $170,000 income.

Game on. Next step. Next chapter in your story. Your own. I love it. Way to go, you two. Very well done. Russell and Mary, Raleigh, North Carolina area.

$84,000 paid off in 22 months, making $150,000 to $170,000. Count it down. Let's hear a debt-free scream. All right. Three, two, one. We're debt-free. Ha, ha, ha, ha, ha. Love it.

Love it. Wow. Hey, it doesn't matter if you've been married 21 months, 21 years, or 51 years. You can decide to change. It's one of the gifts that God gave you is the dignity to choose. You have full capability to choose to do something different. You live in a free country. You can choose not to do stupid different. You live in a free country.

You can choose not to do stupid stuff anymore. Isn't that interesting? It is just a decision. Like he said, you just put your foot down on yourself and say, hey, self, stop doing the stupid stuff, self. It's a choice. And you have the power. You have it within your hands to just choose.

This is the Dave Ramsey Show. Thank you. We'll be right back. Our question of the day comes from Blinds.com, the number one online retailer of custom window coverings. You get free samples, free shipping, and with the new promos they run every month, you'll save even more. Use the promo code RAMSY to get the best possible deal. Today's question is from Mike in Minnesota. My wife and I are on Baby Steps 456, working on Retirement Kids College and paying off the house. And we're contributing $500 a month to my HSA.

We've reached our annual deductible, and we're wondering if it would be better to continue building the HSA or if I should increase my Roth 401K to 17% with the $500 or use it to attack the mortgage. I'd use it to attack the mortgage. Maybe step four is 15% of your income going into retirement. Everything above that goes to five and six, which is kids' college mortgage, not building up an HSA further. We can do that later if you want to, but that's not what you need to do early on in the game. Did you know that 66% of parents are reluctant to talk to their kids about money? That's two out of three of you. Well, it's summer.

Kids are taking on summer jobs sometimes, and they need to know how to spend properly and how to save properly and how to give properly. And the best thing you can do is lead by example. Rachel Cruz talks about more is caught than taught when it comes to teaching your children anything. The best thing you can do is lead by example. Every dollar is our free budgeting tool. It helps you manage your money, and that puts you in a position to have this discussion with your kids about managing theirs. Every dollar is free. Six million people have downloaded the EveryDollar app. It's easy to use. You set up your budget in just a few minutes.

Go to EveryDollar.com. Get started. EveryDollar.com. Max is with us in Canada. Hi, Max. Welcome to the Dave Ramsey Show. Hey, I'm a huge fan. How are you doing, Dave? Better than I deserve. What's up? Yeah, so long story short, basically, I work online. I'm a content creator. And over the last couple of months, I came into some money. I made about $93,000 in the last two months. Wow. But it's not a consistent income. So really right now for the last couple of weeks,

I've been trying to figure out an investment portfolio to kind of figure out how to make this money work for me. I just wanted to speak to you and see if you have any recommendations or guidance on what I should do with it. Cool. Well, my recommendations would be that you use the money for wherever you are on the baby steps. Do you have any recommendations or guidance on what I should do with it? Cool. Well, my recommendations would be that you use the money for wherever you are on the baby steps. Do you have any debt? Yeah, no debt.

I went to school, but I paid that off. Okay. Do you own a home? No, actually. So, yeah, I currently live with my dad, but I have no debt. So basically all the cash I can use for either investments. I do want to start up a company, so that would be the only expenditure I think that I would spend in that aspect. How old are you?

23. Okay, cool. Good for you. Good for you. Well done. Well, the thing is you're probably going to use this money to start a company, buy a house, do some other things in the next, say, five years before, you know, five to seven years. By the time you're 30, that's probably going to occur.

What do you think you're going to spend to start up your company? Honestly, the startup costs are relatively low. Good. Probably, I would say, no more than $5,000. Okay. All right. Cool. Well, I mean, in the States, we would park the money in a no-load index mutual fund,

probably just an S&P, because you're not going to keep it very long, and you're not, you know, the commissions, if you're going to pay commissions, I don't mind paying commissions. I do on some of my mutual funds, but that's usually on funds I'm going to leave alone a long time. In this case, you're probably going to use this money in the next three to five years for something. And so we're just trying to park it somewhere and keep your hands off of it. You've obviously done a great job finding a niche to where you can earn some unbelievable money at 23 years old. Very well done, sir.

Very stellar. I love it. So just pile it off to the side. You may want to give some of it. You may want to enjoy some of it. And then I would park the rest of it into an investment and then you decide about your housing arrangements long term and short term are you going to stay in your parents place um you know are you going to get an apartment uh are you going to buy something later those things start to come up colleen is with us in orlando

hi colleen how are you hi dave thanks for taking my call sure how are you? Hi, Dave. Thanks for taking my call. Sure. What's up? How are you today? Better than I deserve. So I am making some drastic life changes. I am moving from Orlando back to New York, where I'm from. And I have made some pretty irresponsible decisions over the past few years. I have about $175,000 in debt tied up in student loans to 401k loans to you name it. So as I was listening to your program over the past few months, you've talked about the 401k and how it has to be repaid once you resign from your position, which is where I'm kind of looking at right now because I will be resigning my position. And my question is, I do have about

$15,000 in saving right now from an inheritance that I received, part of it. And that's another reason I'm moving back north is to help take care of the property. And we have two parents who's up there. My dad passed unexpectedly. So you're moving back to take care of property? I'm moving back. My mom is up there. My brother's up there. And my whole family's up there.

I stayed in Florida to allow my daughter is up there my brother's up there and my whole family's up there i stayed in florida to allow my daughter to graduate high school um she was a senior dad passed about 10 months ago very very unexpected and um so i'm going back i'm not going to have i'm not going to have a rent payment i'm not going to have um you know any of the um any of the housing expenses at this moment that i have in orlando so but um my i guess my concern is with this um with me resigning from my my position i guess the 401k loan would come due yeah how much is it becomes a tax it's about ten thousand oh you see ten of your 15 and pay it off. Yeah. Okay. Yeah.

And then that was one of my questions because it's just there. Okay. So what do you make a year now? Right now, I'm making roughly $75,000. What are you going to be making after you move back? It's going to be over $100,000. Oh, okay. So your income will go up.

My income will go up. Your expenses are going to go down, and you'll be having a family around you. And with the two recent losses, the family being together is a good thing. Yeah, and I'm going back as I'll be an empty nester at that point. My youngest son will stay primarily with his dad, but we're in the same state. We'll be back in the same state, so I'll have that expense for the first time. I'll be the one who's paying child support.

So it's an interesting, it's going to be interesting, but I don't want to overthink it so how quick you know the next thing is then we're going to make this move you're going to make more money have less expenses and we're going to attack this debt that you've got and you'll be able to move right through that it sounds like um because you've got a lot you got a lot simpler situation and a more efficient situation financially so it sounds like you're going to be in a really good place to make some major strides on that so good stuff hey thanks for the call i'm sorry you guys have gone through all this it sounds like it's been a tough time for y'all open phones at 888-825-5225 you jump in we'll talk about your life and your money on instagram

steven says my wife and i average approximately,000 miles on the road a year. Should we get a roadside assistance membership? You can. It just depends on how much your wife, my wife, and I. I don't know who spent all this time in the car, both of you. I don't know if this is who spent all this time in the car, both of you. I don't know. If you're in a situation where someone's safety is an issue or there's a breakdown that's a potential thing that's a major issue,

yeah, maybe. You may want to look at that. But many times it's as simple as having your cell phone charged, you know, and something happens and you just call somebody to come get you. I mean, it's really simple as having your cell phone charged, you know, and something happens and you just call somebody to come get you. I mean, it's really not that big a deal. Roadside assistance is not as big a thing as it once was when communication was different. And automobiles are much more predictable now than they were 20 years ago.

And so, yeah, if you've got good solid cars and, you know, you're not in a situation where your wife's going to be in jeopardy or something out on the side of the road, I'm probably going to avoid it. This is the Dave Ramsey Show. Hey, it's Blake Thompson, Senior Executive Producer for the show. You know, you can listen or watch anywhere with the Dave Ramsey Show app on your smartphone. Catch the full show or watch the highlights and check out Dave's upcoming guests. Head to the app store and download it today.