The Ramsey Show - App - I Don’t Trust the Government… Where Should I Put My Money? (Hour 3)

Episode Date: August 10, 2022

Ken Coleman & Rachel Cruze discuss: Where to put your money when you don't trust the government, Finding your dream job, Choosing a side-hustle while overseas, Avoiding universal life insurance, The best order to pay off debt.   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 talk about your life, your money, your work, and your relationships. I'm Ken Coleman. Rachel Cruz joins me this hour, and we are here for you to take your calls america the phone number is 888-825-5225 888-825-5225 let's go to moss point mississippi that's where linda is waiting linda how can we help uh yes i i've got um almost a hundred,000 in my checking account at the bank, and I'm 76 years old, and I'm getting kind of nervous. I've been looking at gold and silver and stuff, you know.

What would you do with that money instead of having it in the bank, all that money? Tell us what you're most nervous about. I don't trust the government. Come on. All right. Welcome to the club, Linda. Welcome to the club. You and I can wear the same hat.

So play that out a little bit. I don't trust the government either, but what is a really serious concern and fear that's making you call us right now? Are you thinking they're going to raid your bank account? What's going on here? Right, yes. What would cause them to do that? Well, because the way he's spending money, he's going to figure he needs some more money. Okay, all right, okay. All right.

I see what you're saying, Rachel. What are some options here? So, Linda, I love your line of thought, and everyone that knows a little bit of me, I just love a good conspiracy theory. So I've been down every rabbit hole you can imagine. But I think, though, Linda, little bit of me i just love a good conspiracy theory so i've been down every rabbit hole you can imagine um but i think though linda um the truth is if that really did happen i think a war would break out if the government came in and started taking people's money yeah from their personal savings and checking account we have other problem like it would it just I just don't I genuinely don't see that

happening personally yeah could I mean could you make a case for it Linda uh sure it it could they can drum up any kind of reasons I mean they really could do just about anything they wanted to do do I think that's gonna happen yeah but Linda I don't think you need to be worried about that right now I would I and I don't want you need to be worried about that right now. And I don't want you to be investing in gold or silver. No, yeah, commodities like that, Linda, they don't hold their value. And do you have any investments, Linda, that you are living off of? Is it like from previous retirement or anything, or is it just that money in the bank that is your nest egg?

No, I make about $8,000 a month income. I sold some properties. Okay. You know, so I got lots of income. Yeah. But I've just been nervous about, you know, I even thought about putting it in a safe, you know, but I don't think that's right, you know.

Yeah, that's the last thing you want is everybody in your community seeing a big old truck come in with a safe. Hey, what's going on over at Linda's house, right? Yeah, right. Do you have a financial advisor? No, I don't. I really recommend, you trusted us enough to call the show today I really recommend that you get on our website RamseySolutions.com

and I would love for you to seek out on our website SmartVestorPros these are men and women that we've vetted out because of their values they understand how Dave for three decades has treated people and they're going to coach you and

you can interview them you don't have to choose the first one that you meet with meet with several in your area but just really explain some of your worries and uh your your concerns and some ways to protect yourself and i think that it will just show you several things number one your options um and and and then number two just what would have to happen for those fears of yours to come true, what your protections are, what you can do, how you can diversify some of that money, because you've got really good income coming in. I would even talk to them about offshore accounts and things of that nature. I'm no expert on that, but the bottom line is they know about investment

opportunities, things like where you can protect your money, you know, from things like this and you invest your money. I'm just saying I'd look into it. I'm not an expert. I talked to one of our smart investor pros about it. Rachel's freaking out right now. Get off your couch. Well, no, it's a way to protect your money.

I mean, people do this. They invest it, and it is a thing. Yeah, and I thought, you know, I'm getting to the point where I worry about my money. I'm a widow, so I've got no husband to advise me. Let me tell you this too, Linda. We say around here a lot that there's been a lot of fear in our economy and in our culture over the past few years. I feel like it's just risen for multiple reasons. And we just never make decisions out of fear. Usually when decisions are made completely out of fear, it's in the short term to rest aside

that fear. But then long term, when you look out, you know, three, four or five years, it's not always the best decision, but you made it kind of in a vacuum out of fear. So I really want to just give you peace that, you know, if something we're in, we're in this industry all the time. So we're talking to people, we're seeing things going on, we're reading the news, all of it. And if something fell off, like we would, we would definitely be talking. And again, I think it, I think things can be off for sure. And some people think they're way off more than others. But overall, though, I just don't, I don't see that happening in the near future at all, personally. So I have money in, in the banking system. Actually, most of our money is or in investments. And so, yeah, it's something that we're doing. So that's how we give a lot of this advice as well, is things that we're doing. But

you could look, Linda, how much did you say is in the bank right now? Well, it's a little over $100,000. Okay. Yeah. And this may, I don't know, I'm just thinking of a way to diversify. I think Ken saying to meet with an investment professional is a great step. But it could be, you know, if you, I don't know, I don't know if I'd fool with it, but I was going to say, you know, buy a little bit of real estate, like a condo or something, and having money. Oh, Lord, I just got rid of it. Oh, perfect. Terrible, terrible advice, Linda.

I was cautious when you would say it. I should have said it. Linda, I want you to know, as soon as she said that, I rolled my eyes. I don't know why Rachel told you that. No, you know what? Listen, SmartVestor Pro is going to give you, honestly, some really great advice. There are other investment opportunities for you where you are protected from the federal government. And, again, they can help you on that.

So you've got some options. Okay, that's Smart Investors. Yeah, hang on the line. We're going to make sure that we get you right to the spot on our website. SmartVestorPro is the section on the website, but our team is going to get you right there. And I want you to interview several people. Ask all the questions, Linda, that you want to ask. You need to feel comfortable about that.

There's even investments to go into, Linda Linda that even have like a moral scape that it's like okay if you are a evangelical believer here's funds around that like you could even look specifically into different things for sure um and by the way to come back to what I've said the reason people use offshore accounts is to protect their money from their government so foreign countries if you feel it's just sounds like a it sounds like a movie there was a no you just put your money in another country's bank. There was a movie with Cameron Diaz, and he had all of his money, I think, illegally in his offshore account. No, I was not suggesting illegal. The money itself would be illegally gotten, but that is a viable thing to protect yourself from your government.

Yeah. People do it. Maybe we should be doing it. Are you doing it, Ken? No, because I'm okay. I'm not worried about it. It's we should be doing it. Are you doing it, Ken? No, because I'm okay. I'm not worried about it. It's going to be all right. You know, I think it's going to be okay, Linda.

I promise. This is The Rated Show. the ramsey show continues from our ramsey solutions worldwide headquarters in nashville i'm ken coleman rachel cruz joins, and we're thrilled that you've joined us. 888-825-5225. Joshua is up in Lexington, Kentucky. Joshua, how can we help? Hi, Ken. Hi, Rachel.

Thank you for taking my call. You bet. I'll go ahead and get straight to it. I just, so I've been working since 2000, well, 2012. I have a bachelor's in political science and master's in American government and executive leadership. I just feel like I'm having a difficult time digging myself out of low-income jobs and getting to my sweet spot job. Which is what? I feel like I'm very passionate about politics, working in and around politics. I worked for the last Kentucky governor's office until he lost his re-election, and I've been applying for different like, uh, Christian lobbyist groups.

Um, and I've gotten interviews, I've networked with people, um, but I just can't seem to break back in. Sure. So what were you making when you worked for the governor of Kentucky? That was again, uh, another low income. It was about $34 a year. How old are you? I am 29. Okay. Are you married? Yes. Kids?

I have kids. Okay. Yes, I got one on the way in December, too. All right. Oh, congrats. Good. So when I asked you what that sweet spot or dream job was, you just said, I love politics. I'm just curious, what's at the top of the ladder? It's really important, even though it may feel very out of reach right now. I don't want to focus on that. I just want to know what would be that ultimate gig? And then quickly tell me, what's two or three levels up the ladder that you feel like I've identified, Ken,

and if I got in this position, I'd be thrilled professionally and financially, it'd be much better off. Give me those two answers. Yes, so my ultimate goal is to one day run for Kentucky governor. Gotcha. All right. And then what's two or three levels up the ladder? Obviously, I think the role with a Christian lobbyist organization or a political organization, a PAC or something like that. Give me another example

of something a couple levels up that you've identified where you are making maybe $50,000, $60,000 or more. Right. And that would, I feel like, be on the governor's staff. Probably not the present day governor's staff here in Kentucky, but maybe a future governor on his staff to where I would be involved traveling around the state, getting to know people. All right. So here's the advice I'm going to give you. And I want you to understand that it comes from experience. I was 22 years of age when I started working for the governor of Virginia. And it was a, I think it was a $32,000 a year job, and it was starting out. And then I worked through different campaigns.

But here's what I know from that world, whether it's Virginia or Kentucky, it's an extremely small world. You know that. I mean, you know somebody that knows just about anybody in Kentucky politics. And I would also say that if you want to make the move to Washington, and I don't know if that's an option for you, you know plenty of people that can get you in there. in Kentucky politics. And I would also say that if you want to make the move to Washington, and I don't know if that's an option for you, you know plenty of people that can get you in there.

And I think that you're a little bit discouraged, and I understand. But what you've got to do is get determined instead of staying discouraged. And you've got to leverage your relationships. You know a lot of people. You work for the governor of Kentucky, so you've got a good political resume, and you've got great relationships political resume and you've got great relationships this is you just getting very serious about making connections say all right I want to work for and I could throw out you know I'll just throw out a a it's a non-political party affiliation but Americans for Prosperity huge organization the Koch brothers started it very conservative you may be on the liberal side doesn't matter they've got you know george soros has got an organization point is you start going okay here's one organization here's uh you know some offices in dc maybe some uh think tanks uh maybe actually working for a cabinet secretary

in one of the federal agencies and you got state agencies in kentucky my point is you know all this but you've got to put all this out almost on It's almost like a mental piece of paper and then get serious about who do I know over here, over here, over here, over here. And it's all about relationships. You've got enough of a resume. I wish I had some silver bullet, but politics more than any other industry is about who you know and who will vouch for you and give you a gig. I'm just, I wish I had a better piece of tactical advice, but you've already been in, so you can get back in. It would be a much more difficult proposition, Rachel, if he had never been in politics. That's a harder deal to get into. Yeah, for sure. You just got to stay with it, Joshua, but you can do it. Hang on the line.

I'm going to give you a head start. I want to give you my book, The Proximity Principle. And this is a book that's all about people and places. And it's very tactical. And I think it'll help encourage you and give you some very tactical things to do day in and day out to get in that business. Thank you for the call. Samantha is up next in Philadelphia, Pennsylvania. I would say the city of brotherly love. Just to irritate Rachel. I was waiting. I was waiting for something.

You need to know these things. Somebody's got to teach you culture, Rachel. Samantha, you're on the Ramsey Show. How can we help? Hi, Ken. Hi, Rachel. Thanks for taking my call. Thank you.

Samantha, did George Washington go at all in Philadelphia? Did he do anything? George Washington was definitely in Philadelphia. I know, it all in Philadelphia. Did he do anything? Give us the... George Washington was definitely in Philadelphia. I know, for all the stuff. He was for all the things right there. Just had to throw that out there. Okay, I'm sorry, Samantha. I'm here for your question.

No worries. So I'm trying to figure out how much house I should buy. Okay. I want to sell my house. I think I can get around $500. How much do you owe on it? Nothing. It's paid off.

Oh, wow. That's great. So why do you want to sell this house? I'm sorry? Why do you want to sell this house that's paid off? I've been here 15 years. I know I heard you guys talking about HGTV, but it was my starter house. And I want something a little bit better.

I'm in my 40s, so I want something that I can keep for another 15 years. Good for you. You're just stepping up. You're stepping up. It's great. We were just curious of what your motivation is. Yeah. But that is my question.

Should I be going for that? I mean, I could get something that's 500, and it would probably have what I'm looking for. I got a sneaky suspicion, Samantha. You know exactly what you're looking for, and you know the price range. Is that right, or am I wrong? That's right. Well, then tell us the number. I feel like I'm trying to give myself permission.

Well, Rachel's going to walk you through it. Hit Rachel with the number. What's the house? How much is it going to cost, the one that you would like? $500. Wait, $500? Is that what you just said? Yeah. So you're just taking from your house to the other one? Yeah, but it's fine. It's one with the update. Do what?

It's one with the update. Yeah, that's great. Yeah, but the point is, I thought you were going to throw $800,000 out, and then I was going to let Rachel walk you through how we would walk through that decision, but it sounds like you're going to sell one house that's worth $500,000 and buy another one for $500,000. Are we hearing you right? Yeah, well, my thought was, I was trying to be responsible, so it's just me, unfortunately, but it's just me. So, I didn't know if I should just you know suck it up and get like 300 no samantha stop no go get the house you want go get the house you want

and you're paying cash you're basically paying cash for it's amazing you've worked hard it's the thing you want yes go get Go get it. Go enjoy. Yes. Is that what you wanted to hear, Samantha? Spend some time there. Watch TV. Spaghetti. Just enjoy your life. Enjoy your life.

Oh, my gosh. I mean, the sage advice today. It's unbelievable. Thank you for sharing that. Samantha, Rachel said you could go eat spaghetti in your new house. What else do you need to hear? Do you feel good now? You should go. Do it, Samantha.

Samantha, the next 15 years, you've been dreaming about this. You're so in financial position to do it. This is not silly. And even if you're going to take a small mortgage out on another house, I wasn't going to be super mad about it. Right. That's what I thought I was asking.

So, yeah. Yes. Yes. Fantastic. Enjoy. Enjoy it. Thank you for the call, Samantha. You're amazing.

In that segment, we mentioned the city of brotherly love, George Washington and spaghetti, for those of you that are keeping score at home. You're welcome. This is The Ramsey Show. I'm Ken Coleman. I'm joined in our studio today by my co-host and colleague, Rachel Cruz. Thrilled to have you with us. 888-825-5225. That's the toll-free number to jump in.

Blinds.com's 100% satisfaction guarantee means even if you mismeasure or pick the wrong color. Now, I would be the guy who mismeasures. The good news is they'll remake your blinds for free when your husband's a dope like I am. 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 deal. And today's question comes from Cassandra in the United Kingdom. Oh, there we go. The UK, Ken.

Please do it in an accent. I know, I wish I could. I totally would have. Would you like a spultity? My husband and I are currently overseas in the UK as a military spouse. I have found it extremely difficult to find a side hustle. I have $14,800 in student loans. We do not own a home and have no other consumer debts.

I would like to find a side hustle here in England, but it's difficult since we are American and I'm not sure what to do to increase cash flow. Any advice? Yeah, Cassandra, I want you to start with the base. You know, this is a safe place to start because you may not know a ton of people on the base, but your husband does. And you've got a group of military men and women, many in the same situation that maybe you're in, you might be surprised how many other military spouses have found side hustles all around the world as they've traveled. It's not their first time. And so I would start with relationships on base. Hey, I'm looking to make a little bit of extra money and talk to anybody and everybody that you know, and you might be surprised how an opportunity will come out of those relationships.

Experience matters, and there's so many. I've talked to many military spouses on this very question. They'll call in on the Ken Coleman Show, and it's almost every time when they dive into that base of women who are in the same situation or maybe more experience of traveling, opportunities come your way. And then the good old-fashioned, just get out there and see who wants help well that ends I mean obviously there's a time difference but I uh I mean look online like other things you can do from like

whether it's two I don't know what it would be but like an online job that you can do where the hours aren't crazy she's in the UK you know so the point the point is she's, she's on site. So she can go and say, Hey, where do they need help? And so just good old fashioned show up and apply for opportunities. So thank you for the question. Okay. So how many times have you found yourself saying one day, one day I'll do this one day I'll buy a house one day. I'll be happy with my career one day. I won't be battling anxiety. Well, whatever your one day is, you can actually start right now. And that's one reason we created the SMART Conference. So the SMART Conference, it's a one-day event where we tackle all the areas of your life.

And you guys, a lot of us could just use a nice little boost right now. So you're going to hear from the nation's top leading experts on money, career, mental health, relationships, marriage, and leadership. So we are going to Dallas, Texas on Saturday, October 22nd. The event passes are selling fast. VIP and Platinum are already sold out, but you can still get general access passes for $39. So it'll be myself, Ken Coleman next to me, Dr. John Zaloni, George Campbell, Christina Ellis, Dave Ramsey, Craig and Amy Groeschel from Life Church. And of course, we have some surprises throughout the day, which is always fun.

So this is a really fun event, you guys. If you have not gotten your tickets and you're in the Dallas area or want to travel to the Dallas area for it, it's an all-day event and it's really fun. Some great content. So you can visit ramsaysolutions.com slash events to get your passes today. What's your one day? Give me one one day for you. Oh, that's a good question.

Oh, man. Don't, come on. You got up several one days. Like one day you want to have lunch with Taylor Swift. I went, T-Swift. I don't even know if that's true. I just made that up, folks. What a gal. Yeah.

One day I would, and it's a kid thing, but once the kids are gone, I just want to travel. One day, I'll just go to Europe. Be a full-time traveler? Not full-time, but I want to enjoy time away traveling and seeing stuff, but I just feel like, you know, it's hard right now. Of course. You're in the middle of three littles. I guess I could leave for two weeks, but I'm probably not going to leave them with papa dave that's what

i would do i'm leaving with them tonight actually so fantastic thanks papa dave there it is you got to love that what's your one day well i have several first one that comes to mind is a uh is a hole in one i i want i want to achieve uh getting up on a t-box of a part three and hitting it in hole in one. Just one day. Just watching it. Yeah, it'll be pretty amazing. Yeah, that's a good one day.

There you go. I feel like both of ours are achievable, Ken. Oh, yeah. I believe in us enough. I do, too. I've got to play a lot more golf and increase those chances. I've got to get my kids grown and out of the house. All right, there it is, folks.

The one days right there. Great examples. Let's go to the house. All right, there it is, folks. The one days right there. Great examples. Let's go to the phones. Jose is joining us in El Paso, Texas. Jose, how can we help? Yes, sir. Good afternoon. Sorry if I get my words mixed up.

I'm a little nervous. No, you're great, Jose. You're doing great. Thank you. Recently, my wife and I have been around a lot of death. We lost both my in-laws. We've been six months apart from each other. Recently, my wife and I have been around a lot of death. We lost both my in-laws within six months apart from each other. Two years ago, I lost my uncle. Last week, I lost my other uncle. About three weeks ago, my wife lost her best friend's 15-year-old son from cancer. So

it opened up her eyes a little bit. and we've been looking into getting life insurance, because it's just me, my wife, and my 18-year-old daughter. We don't want us to struggle in case anything were to happen to any of us. So we had somebody come over to talk to us, and I know Mr. Ramsey says not to get a whole life because they're the timeshare of life insurance. So I was looking at term because that's what i learned from listening to the show um but one thing she brought up was was universal and i've never heard of universal so um i wanted to get your guys's feedback on that i mean it's basically in the same i the same sector of whole life i mean it's it's just the idea you'll have investment yeah Yeah. So no, it kind of

coats itself a little bit better than whole life, the way it presents itself, but it is that. So no, we do not recommend universal. Term life is exactly the route you need to go because it's still going to be less expensive than universal. And again, you're keeping your investments and your insurance separate, which is what term life does. There's nothing else attached to it where a lot of these other options are more expensive and they have an attachment of some type of investment with it. So yeah, term life is where, and I would just honestly, Jose, go to Zander.com and they

have such a great, easy interface. If you've gone to it before, you just like really put in some information and go through a few steps and then they bring out all of these companies that have it's not just one specific company they go and shop all these companies to really figure out the best needs for your family so um that's where i that's where my husband and i've got ours i mean they just make it so easy and i'm really proud of you guys for doing this i mean seriously it uh life insurance is one of the things that is key so so important to do for your family that a lot of people just skip that step. So I'm really proud of you and your wife for doing it.

And even if she's a stay-at-home mom, I would still get life insurance on her as well. Anyone that's dependent upon your income. Okay, good, good, good, good. Jose, have you ever been through this? I'm sorry? I'm sorry. Have you ever been through this process'm sorry i'm sorry have you ever been through this process before is this going to be your first time i know this is this is all

completely new to us honestly um she she's the girl that was talking to us about it she broke it down but i just uh i don't want to make the wrong move and that's why i said no you know what let me call good she's she's shopping around for us because she works for a company that has that. She even sells like Obamacare and all sorts of insurance. Yeah. She's shopping around for us. But I just wanted to make sure we didn't get locked into something that is not beneficial. And Jose, you don't even need an insurance agent like that.

I mean, like. No, you do not. You could do it yourself. You could. But, I mean, Dave and Jeff Zander have known each other for three decades. I know Jeff personally. Rachel knows Jeff. It's a wonderful company.

We endorse them because they're shopping for you for the best policies, and they're only going to recommend terms. So you're not going to have to learn about some new type of insurance, as Rachel said. I would get with them today. I mean, before you go to bed, get online. I think it's less than a couple of minutes. You can get a free quote. They're very good people.

Tell them you talked to Rachel and I on the show today, and we said take really good care of you. Ask all the questions you want to ask, and it's a simple process. I've got to give you one little tip, though, that you're not going to get many times when you ask about this. I recently got the best rate possible. Let me tell you something. No cheeseburgers. Like, eat Super Lean for 30 days before the life insurance blood test. No smoking, the best rate possible. Let me tell you something. No cheeseburgers,

like eat super lean for 30 days before the life insurance blood test. No smoking, no alcohol, nothing. No smoking, no alcohol. I'm telling you, you get that preferred rate when you got the low cholesterol. There it is, folks. Thanks, Jose, for calling in. Thank you, Jose. This is The Ramsey Show Welcome back, America. You're listening to The Ramsey Show. I'm Ken Coleman. I'm joined by my colleague, Rachel Cruz. Thrilled that you are with us.

Our scripture of the day comes from Proverbs 18, 24. There are friends who destroy each other, but a real friend sticks closer than a brother. Our quote today, Ray Goforth. There are two types of people who will tell you that you cannot make a difference in this world. Those who are afraid to try and those who are afraid you will succeed. Yeah, that's good. I find that a lot with family sometimes, right? Not my personal family, but I hear from callers, you know, it's like family tries to hold people back.

They're afraid that if you actually succeed, you're going to go a long way away or leave them in the dust. Let's go to William who joins us in Wichita, Kansas. William, how can we help? Hello, can you hear me? Yes, sir. Loud and clear. What's up? Okay, you cut out there for a second. All right. Basically, my question is, since me and my wife can't get a loan from a bank for a house, should we have my dad get the loan and get the house in his name and then pay him back for it? Have you shopped around, Dylan? Have you guys tried like two, three, four other places from mortgage brokers to credit unions, other banks?

Basically, since we can't get a loan that's government secured because we haven't had two years of stable income, which apparently is non-negotiable. Now, there may be in-house loan options, but those will be adjustable rate and higher interest rate than my dad can get for himself. Yes. Okay. You're kind of cutting out a little bit, Dylan. Um, okay. So where are you guys at financially? What, what kind of debt do you have?

Uh, we're great. That besides credit card month to month, which gets paid off at the end of every month. Okay. Credit score is good. Cash is good. How much do you,

how much do you have saved? Two years. Uh, how much do we have saved? Um, about, about 50, about 50 is that part of your emergency fund and down payment um yeah that's that's every that's all liquid cash we have it okay okay perfect um are you still there yeah okay okay yeah so okay. Yeah, so I do not, I mean, it's kind of in a sense a co-signing situation.

I mean, he's taking the loan out, but it's on your behalf. And honestly, Dylan, we just don't recommend doing it with family, even though it sounds probably fine and it's not a big deal. I would recommend you and your wife be stable on a job for two years,

and then you guys go get the loan yourself. How old are you guys? I'm 20, and the wife's 22. Oh, yeah, okay. What has to be true for you all to then, what financial stability, you mentioned this earlier, you were cutting out, but there's some things that you didn't have in place, and so you couldn't get the loan.

So what has to be true for you to be able to qualify? The only thing that has to be true is two years of stable income and our chosen career paths. Okay, so here's the deal. You're 20 and 22. The house that you want to buy, William, is going to be there. Okay? So you've got to lay out this groundwork. Don't get in the situation with your dad. It could be a situation that could go ugly, create unnecessary tension. And, again, you're so young. You guys can rent and get stable, get in your professions, and just take your time. Not in a rush.

There's no hurry. And, William, too. Sorry, I called you Dylan earlier. Sorry. William. And I would say this too. I would give this advice even if you were 38. Even at 38, I still wouldn't have my dad take out a loan.

I mean, it just changes relationship. And I think it's not a great habit to be in, even especially since you guys are young. I'm like, you have the time. That's the great part. You have more positive on your side for that. You guys are okay. Home ownership will be in your future. And I would just make it independent of you guys too. Because Dylan, that's going to be a little bit, I think of,

I think of a dignity for you as well, that you and your wife, you are your own unit. You know, you are, you have left, you have left mom and dad, and you guys got to figure it out on your own. And there's something about that, that I think is going to be really good for you and your wife. And I think, too, any goal that you have, and for some people it's getting out of debt. For some people it's getting a house. But when you do it as a married couple, and you do what's hard, and this would be hard for y'all. We're giving you more of a hard road, I think a healthier road long term. But it's a hard road i think a healthier road long term uh but it's a

hard road but when you walk a hard road with your spouse and do the quote-unquote uh impossible or the hard thing there's something that happens in your marriage dylan and a little bit of it can kind of feel like a cop-out of like well dad can figure it out and take care of it for us and we can you know we can get what we want right now there's a little bit of the struggle that i think is so good and like i mean i remember when winston and i we saved up and we built a house we we'd say for years and years and years and years and moved in november of 19 and i remember i remember that leading up as we're having to make those withdrawals during that build i mean it was like cut we were cutting stuff out of the budget we were every commission thing i could do i was like

i'm doing i mean it was just this moment of like we we're going to do it. And when we finished that project, I mean, him and I, I just remember walking through the doors of that house and we were like, we did this. It means so much more. There is something about that strengthens your marriage, Dylan, that I don't think you could get otherwise. So all that to say,

I think there's a lot more pros by you guys just working hard for two years on a job that you love, buying a house on your own. You guys can do it. You're smart. You're doing great you're young it's perfect and there's a lot of downside that could happen uh not that it always would happen with your dad but if it does go south it's not good yeah it's not fun i agree now we go to dylan poor william i know calling dylan about 17 times but you were on such a roll, I didn't really feel the need

to correct you. I'm sorry. Our board, the board that we look at for the callers, I messed up the color. It's all right. I was looking at the orange. Now we're going to Dylan, so don't call him William. All right? That's all the audience wants, and me, quite frankly.

Dylan, you're on the Ramsey Show. Hey, can y'all hear me okay? William? How confused were you on the last call? She kept talking to you and you're like, oh, she can't hear me. I'm so sorry. It's okay. No, it's actually okay because I'm 22 and my wife's 22 and we just got married in April.

Oh, congratulations. So I think all the marriage advice. There you go. You and William. All right. Y'all could be friends. All right. So we got about two minutes.

How can we help? Okay. So basically I have a car loan that's $8,000 and I have student debt that's $6,500 and I've got $11,400 in savings. So if I paid off my car loan first, which is the the higher which is why I'm calling y'all because it's the higher one but it would save me $416 a month if I paid it off first and then in fact the student loan one I don't know with them being so close I'm not sure if I should just go ahead and pay the car off first even though it's the higher one I i mean honestly yeah dylan i would i would just go ahead and knock

out the student loan debts and then work to um to pay off the car i mean you're not gonna be that far off and so i don't know that i i understand what you're saying about the interest and all of that but i would just go ahead and just pay off the student loan there's something that feels good about just saying okay i'm done i'm done with that student loan it's it's done um and then you guys have just like what three thousand more to go tackle for the car loan and you guys how much do you make a year uh net like 75 000 okay oh yeah okay yeah okay so yeah i mean five thousand left you could sell a couple things around the house, get some money together. Yeah, I would. He's got $11,000.

Did I hear you say $11,000 in savings? Yeah, yeah. Okay. So, you know what we teach there? Take that down to $1,000, right? Yeah. And use all of that $10,000 on this process. But I think you can knock this out really quick.

Yeah. But, yeah, go through the the debt snowball that's it works every time all right awesome yep appreciate the call thanks dylan yeah there you go i'm very excited that you got his name right that's uh that's that's always good um in all seriousness why why this why the snowball why the momentum like you know like why do we tell people every time it actually works? I know you've taught this many times. You've had this call many times. It's just not a math. I mean, debt to a point is not a math issue. It's more of a behavior issue. And so getting out of it, there's something

about those quick wins that just feel like, gosh, it just, it just feels great. And so, so he's asking, okay, if I'm going to have 10 grand, could I throw it at the eight, have two left, and then knock out the student loan? So yeah, I mean, like Dylan, you could do that because I understand what you're saying. But then there's something about having the momentum of having the student loan gone, the lowest, throwing any extra that you had at the car

and then attacking that car. So there's just, it's a feeling of that behavior change happening that helps people win. Rachel Cruz, always fun to be with you. Thanks for hanging out today. I want to thank James and the team behind the booth for what they do. Mostly, we want to thank you, America. We do the show for you. Thank you so much for listening in today. This is The Ramsey Show. Hey, folks. Ken Coleman here. Did you know The Ramsey Show is one of the most popular podcasts

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