The Ramsey Show - App - I Feel Stuck (Hour 2)

Episode Date: January 15, 2024

Live from the headquarters of Ramsey Solutions, it's The Ramsey Show, where we help people build wealth, do work that they love, and create actual, amazing relationships. I'm Dave Ramsey, your host, Ken Coleman, Ramsey Personality, number one best-selling author of the book From Paycheck to Purpose and host of the Ken Coleman Podcast, is my co-host today. Be sure you jump in and talk to us. The phone number is 888-825-5225.

Abraham is in Lincoln, Nebraska. Hi, Abraham, how are you? Hello, I'm doing good. Thank you for taking my call today and helping out. Hi, Abraham. How are you? Hello. I'm doing good. Thank you for taking my call today and helping out. Sure. What's up? So, essentially, I'm in the chemical engineering field, and in my current position, I have a great manager,

and I have a great job, and a job that I enjoy a lot, and I get to travel quite a bit for. However, I do know that in comparison to other positions out there that are of similar work or that would have the same experience that I have, I can probably get $20,000 to $40,000 more. What do you make? With that in mind, I'm sorry? What do you make?

$100,000. Okay. So you think that you could change companies and make $140,000 doing exactly what you do now? Probably even less stress and less work, to be honest. Okay. So my question is, if I would like to keep my current employment but with the added benefits of the additional salary what is the best way to bring that up with my manager um and how do i even if it's worth it at all and just go pursue a different uh how big a company

uh it is a it is a global company. Okay. So it's not 100% up to your manager? No, but their company is run pretty lean, and it's similar to your company where it's owned by a single person, and that family culture kind of penetrates two and two. Okay, so here's what I want to dive into. Two times you've mentioned the idea that this is either highly stressful,

maybe you've got some balance issues. Is that true? Am I hearing that? What's going on with that, the stress part that you've mentioned? There's a lot of requirements and a lot of expectations that I am able to meet, but it's still enjoyable. Yeah, so let me ask you this. If I called your boss right now and Dave and I made it happen behind the scenes and we called you back and said, hey, good news, we got you that 20 to, let's split the difference, We got you a 30k bump. What would your reaction be? I'd be very happy. Would you even be thinking about going to these other companies where you could make more and do less? Would you even be thinking about it? Okay. So I

think that has to be the perspective. So my advice is pretty boilerplate on this. I'm sure Dave will weigh in, but I'm going to put myself in your shoes, but I'm thinking about your leader. Dave's right. In a company this large, the sole decision on your raise is not in your leader's hands. That they could make the case. So I would not go in just with the data that says, all right, I've looked at other positions out in the marketplace. And when I compare these, by the way, you got to know that they're apples to apples. They rarely are, but if they're not apples to apples, you got to call that out too. And you say, okay, here's the comparison based on a skill and experience. And this is the range that I see out in the marketplace. However, I want to be here. And you tell them why you want to be there. Tell them how much you appreciate them, what you've told Dave and I. Then you say, hey, I'd like to have a conversation

with you about a growth plan to where I can add more value, and you and I are on the same page about what that value is, how we measure it, and if we accomplish that, a path to where I can make this kind of money and be more competitive in the marketplace based on this. I want your take on this. Is there a growth plan that we can work on? And now I'm bringing the leader into the conversation, and that leader sees that you're grateful, that you're hungry, but that you've got some humility and you're not asking for a raise.

You're going, hey, I'd like to grow to this. What could a path look like that on? And I know that I've got to have more responsibility. I've got to deliver results that we agree on. We measure those. And with that comes more responsibility and more income. That's how I would approach that. Because now you're going to find out two things.

Number one, what your relationship is with your leader and how they're handling this and how they're communicating it. And two, you give them something that they get to build as well. And they've got some ownership because they've got to take this up as Dave has pointed out. So this is a partnership, not you demanding something. And I don't sense that in your spirit, but the way you approach this, they've got to have buy- approach this they've got to have buy-in because they've got to present this plan up they're running a pnl yes uh i'm not sure what a pnl is profit and loss they've got they're running a business unit they're running a business unit and responsible for profitability and you when you get a raise

guess what that is that's more expenses for them. Yeah. Now, to be frank, my relationship with my manager is excellent. Great. And we've actually had a similar exact type of conversation that you are describing a few years ago, and he and the company have given me many opportunities. So now, for example, I do projects in a lot of different countries. I want them to give you opportunities. I also want them to give you money. That's it.

You've hit the nail on the head. You hit the nail on the head. So have you gotten more opportunities but no money over the last couple years? Give us the track record here. Yeah, I mean, so I've been employed for five and a half years with the company, progressed quite a bit, level of responsibilities in the projects that I'm doing. What about your financial progression? It's been, I think, close to $25,000 increase.

Over five years? Five and a half years. Five and a half years. Five and a half years with fraud. Okay, here's what I want you to do. I want you to do better research to go with Ken's suggestion than you have done to date. I want some detailed written compensation studies from LinkedIn, Monster.com, whatever,

showing this is the detailed description of these people and this is what the average person makes. Not I ran into a guy who's in our industry who's making X. Okay, I want you to really make the case like you were going before a judge and you were a lawyer, okay? And this is the evidence of what the, if I'm going to sell a car, here's the evidence. It's not I had a feeling or I had a friend once who sold a car like that.

I go and I pull up kbb.com, I pull up Traders, and I pull up two or three things. I find several examples of this car. I show them to the person I'm trying to do the deal with and go, this is what the reality of this car is. And then they do that. So, because let me tell you what's happened around here at Ramsey is we'll be on the other side of your conversation. We've had people come in and tell us that they're worth $40,000 more.

And then we show them that they're not when we do the comp. When we do the detailed study. And then sometimes they come in and tell us that and we do the comp study and we go crap they're right they're underpaid and we pay them we raise their income and both of those have happened this year but uh sometimes the person bringing it doesn't do their homework and i want you to do your homework before you have this next conversation and say i don't want to leave but i do to make market. How are we going to work this out? This is the Ramsey Show.

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You just tell people, spread the word. When you see a good movie, read a good book or hear a good show. And you've been doing that for us. Thank you. Thank you. Thank you. We really, really appreciate it. Our question of the day is brought to you by Neighborly, your hub for home services.

That first time you turn on your heating system every year, it can smell funny and maybe even make some noises. If the noise hasn't stopped since then, don't put it off anymore. Contact AirServe to service your HVAC. AirServe is a neighborly brand dedicated to superior service. So find them at neighborly.com slash Ramsey today. Today's question comes from Joseph in Georgia. I'm 22 and didn't go to college. I feel stuck in this customer service job I have making a little less than $30,000 a year after taxes.

I had a few other jobs besides the one I just mentioned, and my favorite was in asphalt paving. I was making the same hourly rate, but within a few months, I made close to that yearly amount due to all of the overtime. The paving job left me with no more than around seven to nine hours to eat dinner, shower, and sleep almost every day, which I hated and it drained me. Should I go back to that job or go study something that could let me be in a similar position I'm in now, but potentially make more than what I currently do? Okay, you're 22, number one. Number two, I'm seeing a lot of these videos on social media that after my job, I only have seven to nine hours to eat, shower, and sleep almost every day.

That's kind of life. That's kind of how it is. When I come home from my very non-labor-intensive job here at Ramsey Solutions, I'm in bed by 10 o'clock. There's lash marks on your back, I think. I know, but I only have, as I see it, about four to five hours, and my life's pretty great. So I think we need a perspective shift here. So I'll leave it alone so I don't sound like the old man here, but you need a new perspective

on what your long-term goals are as well as your short-term financial goals. What I would say, because I worked in the masonry industry in college, hardest job I ever worked in my life. I was on the job site at 7 a.m., Dave, mixing the mortar, dumping the mortar in a wheelbarrow, wheeling the wheelbarrow around the job site, which if you've ever been on a home job site, that's like a mogul ski course. That's how you develop those muscles. That's why I am the brawny man I am today, Dave. It's stuck with me. And then when I was done distributing the mortar, I got to tell the rest of the story, it was brick tongs.

And you repeat this process all day long. It was a 10-hour day. It was the most back-breaking work of my life. I get it. The asphalt paving is a very, very intense job. In this situation, I would look at most of the trades. I really would. Because the amount of education you need is

minimal. The cost is minimal, but the long-term return on the investment of time and money in the trades is absolutely spectacular. In fact, for those of you that are younger and you think I'm kind of the old boomer, I'm actually an Xer, but just go on TikTok. It's where you like to hang out. And look at all the TikToks of plumbers and HVAC people that are making well into the six figures. The trades are the great secret right now for this young generation. So I would be looking that direction. But if you want to win, young Joseph, you're going to be looking at that same schedule. You shouldn't be having 10 and 12 hours of free time if you're serious about working. It's just not a reality. And I don't know where that came from, this idea that I need eight to 10 hours a day of free time. I don't get it,

unless it's the college schedule. A lot of partying going on. Yeah, I don't think asphalt's in your future. See, I think you boil this down to two bad things and trying to choose between them. A bad $30,000 a year customer service job and a back-breaking asphalt job. Those aren't the only two choices. Obviously, the choices are infinite. And so pick up Ken's book, From Paycheck to Purpose. Start thinking about where you want to be when you're 30, if you're 22.

Clearly define that, and then start asking yourself why you want to do that. If you just want to do it for money, you picked the wrong thing. If you just want to do it for passion but you're going to be broke, you picked the wrong thing. So you want to make some good money doing something you love and that gives you energy and then the time will fly by and you won't feel put upon for having worked an entire day so um yeah so i i think you got to say you know what have i got to do don't pick something based on lifestyle. Don't pick something based on money.

Pick something that gives you energy and that gives you meaning and that you can make money, and again, the time will fly by. I mean, the old saying, if you pick work you love, every day is a vacation. Well, that's a bit of an exaggeration. Every day is not a vacation for me, and I love what I do. But some days are harder than others, and some days are, you know, even the thing you do turns out to be work. But most days, you know, I do this show for three hours every day,

and I have for 30 years, and those three hours fly by. I look up and go wow i just just a minute i was on there it's the company you keep i mean how could you not enjoy three hours of me that's it that's it and hey can we the brawny man over here the brawny brick tongue guy i know it's terrible but hey you know what benjamin franklin actually said this you know you see all these quotes about these old famous people from history he He actually said this, and it's this advice that Joseph and this young generation needs to understand. He said, early to bed, early to rise makes a man healthy, wealthy, and wise. And I think we hear that when we're little kids at some point. We think, oh, it's a cute little

nursery rhyme. No, that's actually a man. If you read and study Franklin, I know you and I have, the man was maniacal about his daily schedule, very intentional, and as a result, one of the greatest citizens of the world. Forget American history. I'll guarantee you that has played an element in the level of success I've personally enjoyed. I know it has. I watch you. When I was growing up, I was naturally a night person.

I mean, in college, I could stay up till 2 in the morning. I never thought anything about it. And I'd sleep till 10, you know. And I never took any early classes because I was lazy. Didn't get out of bed. I was the same way. But when I graduated from college, got married, became an adult, and quit partying all the time, met God.

You know, I started going, okay, I'm going to dedicate the first hours of the morning to my mind, my body, and my relationship with God. And so I'm going to read. I'm going to do some kind of exercise. I'm going to spend some time with Sharon. I'm going to spend some time in prayer and with Scripture. And Sharon and I have gotten up at 5 a.m. for, I don't know, 30 years. Wow. Yeah. And we go and, you know, we were old people before we were old people. And, you know, we go to bed and we get up

and, you know, by the time I get to the office at 830, I mean, I've done half a day's work in one way or another around the house and, you know, all that stuff. And I'm not bragging on me. I'm just saying the stuff that I get out of my scripture and my prayer time in the morning, the stuff I get out of reading a good nonfiction book in the morning, making sure I'm connected with sharing. We've got the day laid out. And by the time I get to work, I'm not stumbling into the first meeting fuzzy and hungover. That's right. You know?

That's exactly right. And I haven't, you know, in 30-plus years. So that's, you just, that, you know, worried about my leisure time. Instead, I've got early to bed, early to rise makes you healthy, wealthy, and wise. And that does do that. It does do that. Franklin was on to something there. So something to think about.

You know, you set your morning schedule. I met a guy when I first met God that knew the Bible inside and out. And I said, how do you do this? He goes, well, I read three hours a morning on Scripture. I'm like, how do you read three hours? He goes, well, I start at four. Yeah, that'll do it. I'm like, how do you start at four?

How do you get up? He goes, well, if you want to get up that early, you got to go to bed early. Oh, there's that. Okay. This is The Ramsey Show. Hey, you guys. Health insurance costs are only moving one way, and that way isn't down. And if higher costs aren't enough, the wait times to see your doctor are longer, and it's harder than ever to get anything approved through the bureaucracy. So if you feel like the system is working against you, try a biblically-based alternative to health insurance, Christian Healthcare Ministries. CHM is a health cost-sharing ministry that's helped hundreds of thousands of families like yours take care of over $11 billion in medical bills since 1981.

And CHM has also helped them stay true to their values and avoid miles of red tape. And CHM support goes far beyond meeting financial needs. They'll also help meet spiritual needs. Members become part of a family who will pray with them and for them when they experience a medical event. So listen, y'all, there's no better way to take care of health care costs. CHM programs start as low as $98 a month. So learn more today and join at chministries.org budget. That's chministries.org slash budgets. That's chministries.org slash budgets. Ken Coleman, Ramsey Personalities.

My co-host, Cammie, is with us in Sacramento. Hi, Cammie. Welcome to the Ramsey Show. Well, you got to push the button, old Dave. Did I push it? I did push it. Hi, Cammie. How are you?

I'm good. Thanks for taking my call. Sure. What's up? I am calling because I want your insight on how I should start with long-term investing as a 21-year-old with no debt, no credit, and about $40,000 in savings. Way to go. Yeah.

Wow. What a great head start thank you you're obviously very smart how did you learn all this um well dave i have fantastic parents who are huge fans of yours i think i've been listening to you since my drive back from kindergarten so you're a financial peace baby okay i love it that's awesome well then you know that we teach folks to stay out of debt which you have done to have a plan which you have done uh to have an emergency fund of three to six months of expenses which you have done and then start investing 15 percent of your income into your retirement first with with a match, second with a Roth,

and third, just make sure you get 15% in there. And once you're doing that, any money you have above that to save and invest, I'd start saving towards my first house. Okay. And I'm curious about having the no credit, what your thoughts are on that, because I know you talk about buying your house in cash and kind of your process with that. Buying a house with cash means you don't need credit, number one. Number two, if you don't have credit and you want to buy a home with a mortgage,

you do that with what's called manual underwriting. Not all mortgage companies know how to do that anymore. Churchill Mortgage that we've endorsed for almost 30 years does know how to do that, and they can help you do that. If you're steady on your rent and you've been on your job two years and you have a good solid down payment, you do not need a credit score to buy a house. You get the same premium, excellent interest rate as if you had a very high credit score to buy a house. You get the same premium, excellent interest rate as if you had a very high credit score when you do a manually underwritten situation. You're not there today

because you set some of your 40 aside for your emergency fund, some of it aside towards your first house, but that's going to not put you in the housing market today. But you're well on your way and you'll certainly be there in your early 20s without a doubt. So excellent question, Cammie. Way to go. Wow. Yeah, I wish more people would pay attention to these calls. Fast forward, she starts investing 15% right now.

She hits millionaire status at what age, roughly? 34. Yeah. She'll have a net worth of a million dollars probably in about 14 years. By the way, the American dream is alive? 34. Yeah. That's – She's having that worth of a million dollars probably in about 14 years. By the way, the American dream is alive and well. Yeah. And that's a Gen Z. That's right.

By the way. Yeah. For those of you that are Gen Zs and think that, oh, it's all over. It can't happen. Oh, no. You know. Oh, God. Oh, the whining that's out there.

It's just – Oh, that's great. The drama. you know oh god all the whining that's out there it's just great drama it's like every generation that has come along thinks that the generation before them stole all the opportunity that's right there's nothing left the old people took it all oh brother and the old people every generation that's come along think the next generation is a bunch of doofuses it's true it's generational neither one are the truth i mean this generation is full of wonderful people like cammy we've got a building full of cammy's that's right i mean half of our 1100 people that

work here are under 30 so officially gen z wow i mean i we have four new people start this morning i went up onboarding hung out with them talked to them really sharp oh god they're so smart and they're going to be great team members and they care deeply and you know just explaining to them this is going to be the hardest place you've ever worked because you're working with smart people that really care deeply yeah and they're not into internal politics they're just into getting the work done and it makes it really difficult because you, I mean, when you're playing for the Super Bowl with the best in the world, you got to play hard. You know, it's good. It's a good thing. But there's camis all over the place, man. They're all over. I'm thrilled with this GNC generation. I think they're amazing. Joe's in Scranton, Pennsylvania. Hi, Joe. How are you?

How you doing, Dave? Thanks for having me. Sure. What's up? Nothing. I just have a question for you. How you doing, Dave? Thanks for having me. Sure. What's up? Nothing. I just have a question for you. Okay. So I've been investing in real estate for like the past 15 years. I got kind of lucky. I didn't use your advice. I used leverage, but I sold everything. I am debt-free except my mortgage. The issue now is the price of real estate, the rate of return on it's like really bad. So I'm thinking, should I keep what I have, go work on something else, just wait, be patient. I'm just me and my wife are a little confused what we should do.

Like she works full time, but it's kind of what I should do with my life now. Just looking for some advice. How much money you got stacked? About 90 grand cash. The only debt I have is my mortgage, and I owe about 68 grand. And you're not working? Well, I work. I manage my rentals.

I currently have about 10 units. Oh, I thought you sold them. I sold a few of them, and I kept. And the ones you have are all debt-free? Correct. Oh, good. Okay. All right.

Real estate, I've been buying real estate since 1982. And real estate always goes through ups and downs in terms of rates of return and pricing all over the place and so um you know it's very difficult uh following fauci's pandemic to buy a good deal because house prices as you know shot through the roof and they stayed there they didn't come back down and so the um that makes the rate of return weird and so it sometimes it takes rent prices a while to catch up rents spiked as housing price spiked, but not as much. Translation, the rate of return went down. And so, you know, on houses in particular, residential is a little more fickle or a little weirder. So I have, I buy a lot of real estate.

I love real estate, but I have ebbed and flowed throughout the decades as to, you know, there's times I just sit on the sideline and watch the craziness. I'm not getting in. I don't like the rules. And today's one of them. Today, the rates of return, I agree with you, are not really high. deal for whatever the reason if it's because the marketplace is slowed down or because i just stumble upon something that's a deal uh then i i will step into it and we'll go do it and sometimes the deal is made up of the situation and it has nothing to do with the economy locally or nationally it's just you find a you find a distressed property of some sort or a distressed seller

of some sort and you're able to slip in with some cash and do a great deal. So I'm not completely sidelined, but I'm also not just running around buying everything in sight. Now, I'll tell you when I did buy everything in sight, I dropped almost every coin of cash I had into real estate in 2008 and 2009 because I was buying stuff at 15 and 20 cents on the dollar after the 2008 crash. It was the best buying time in my adult life, and I've never bought as much since. I mean, we bought everything we could get our hands on,

and some of the best properties I own today, rate of return-wise, are obviously those because I got nothing in them. But it does ebb and flow. So just put yourself on the sideline until you get a great deal or until the marketplace shifts and more deals are out there either one's fine uh in meantime you may want to do something for an income because managing 10 units is not a full-time job well the other thing i want to know is he's got 90 000 set aside and he still has a house payment it's his only debt i'm probably going to clear that i'd want to clear that especially while we're sitting on the sidelines so the 90 goes into the house yeah if you don't

stumble upon a deal to put that back into pretty quick um i'm probably going to go ahead and clear that mortgage and then start stacking cash out of the rentals and out of whatever else i can do i mean you may want to go into the service side of the real estate business go ahead and get your license become a property manager manage other people's properties and yours. I did that at one point many, many moons ago. I can tell you it wasn't my favorite thing to do, but I did do it for some extra cash flow at the time. It worked out good.

It was fine. It just, ugh. But anyway, if you want to do that instead of go get a job, you can do that, right? That's a different way of approaching this. Good question, man. Sounds like you got a good run going. This is The Ramsey Show. Ken Coleman, Ramsey personality, is my co-host today. Open phones here at 888-825-5225.

Ken, I just got a report in that your assessment, the getting clear. Yeah, the get clear assessment. The get clear assessment is one of our most profitable product lines. We knew we had a good year. It's been really fun and rewarding to see that. People getting aware of who they really are. The way we translate that around Ramsey is it means we have something that's helping a lot of people. Yeah.

Because otherwise we don't make money on it. If we make money, it means that we helped a lot of people. There's a correlation between those two things. If we sell a lot of books, that's a lot of somebody got helped, right? Same kind of thing. We have three new products that came out uh late fall just in time for christmas all three are doing very very well and also rachel cruz my daughter's new book in the children's space a children's book i'm glad for what i have her first ever illustrated

kids book hit number one in the kids lists and it a great, beautiful little book and a lot of fun for the kiddos. Breaking Free from Broke, Unbelievable Data and Lots of Snark, George Camel. Book comes out on January the 16th. If you hear this before then, you can get $100 worth of goodies if you order the book early, included in the $20 price. And Jade Warshaw's quick read, Money is Not a Math Problem, hit number five on the bestseller list this weekend. Oh, fantastic.

So Jade is officially a national bestseller, her first time to be on one of the lists. So we're congratulating her and running around this place screaming and yelling and celebrating on her behalf. So all of those things are available at RamseySolutions.com. Be sure and check them out. Allison's with us in Jacksonville, Florida. Hi, Allison.

Welcome to the Ramsey Show. Thank you, Dave. How are you today? Better than I deserve. What's up in your world? Well, my husband and I are in a little bit of financial distress, and we're looking to see where we can cut corners, and we would like to reduce our car payments. One of our car payments is $508, and the other one is like $644.

But we're upside down on them, and so we don't have the money to pay the difference of the upside-down part, and we wondered what is your advice on what we would do in that situation. Boy, you're deep in it. Yeah, we're deep in it. What's your household income? $115,000, and I'm looking for a job. Oh, you're not working he makes 115 right okay good what will you make when you get what will you be making when you get your job

maybe about 1200 a month why so low um because it's just a cashier type job do you have any previous work experience uh as a photographer i have was a photographer for had my own business but i wasn't a very good business person i didn't make how old are you two i'm 58 and he's 66 you make you can make 20 an hour which is a lot more than 1400 a month at freaking target okay so i mean you you're going to do a lot better than you think you're going to do if you get out there and poke around a little bit. That's right. Even on an entry-level cashier, you can do a lot better than what you're thinking.

Anyway, the car that has the $600, $650 car payment, what do you owe on that car? I think we owe around $24,000. Really? What's it worth? I don't know. How do you know you're upside down? My husband tells me these things. Okay.

It's an electronic Mini Cooper or electric Mini Cooper. So did you guys get screwed on the interest rate? Because that's a very high payment for $24,000. Yeah. Yeah. Our credit rating is real bad. So they stuck it to you. They electrified you with an electric Mini Cooper.

Yeah, that's what they did. Yeah. Okay. So what year is that? They electrified you with an electric Mini Cooper. Yeah, that's what they did. Yeah, okay. So what year is that? It's a 2023. It's 23, okay. Sorry, Dave. Oh, so you just recently made this mistake.

Yeah. Yes. Okay. All right. So let's just give you some numbers as an example to answer your question. Do you know who you owe the money to? Yes. Who? you some numbers as an example to answer your question do you know who you owe the money to yes who we owe it to the um uh minnie cooper financial okay what about the other car who's it owed to uh by star credit union ah okay and uh that's000. Do you know what you owe on that one? $20,000.

Okay, I'm going to use that one as an example, okay? Let's pretend that when you look it up, you find out that that car is worth $15,000 and you owe $20,000 on it, and you're upside down $5,000. You follow my example? Yes. I have no idea. I'm just making this up to show you how it works, okay? Okay.

You have two options, three options. One is you live on beans and rice, rice and beans, and save up $5,000, sell the car for $15,000, add $5,000 to it, go down to the credit union, get the title, and give it to the buyer, okay? Option number two is borrow the five thousand somewhere else option number three on that one is you talk to the credit union about letting you sign a note for the difference okay now you're going to owe five thousand instead of twenty thousand and on the other one you're seven thousand upside down maybe i don't know i'm making that up and you're going to owe seven thousand instead of twenty four thousand and so now we got a total of twelve thousand dollars in debt instead of a total of

forty four thousand dollars in debt so we're moving in the right direction we get a couple of beater cars get this mess cleaned up and pay cash for a little bit of a move up in car out of the beaters a little bit later the credit union let me sign a note for the difference they might go down sit and talk to the manager with you and your husband because here's the situation if they repo the car they're not going to get even 15 for it so they have currently an unsecured note for five and a secured note for 15 all we're asking them to do is admit it. Okay. You understand what I'm saying? And sign a note for the difference.

Let me sell it for what it'll bring. I'll bring the buyer in and I'll sign a note for the difference because these payments are killing me. And they might even loan you the money for the amount that you're upside down in that other one. All right. I'd mess with them, especially if you've got a long relationship with that credit union. But go sit down in person and talk to the credit union manager. Don't do this by email or over the phone. Easy to tell somebody no unless you're sitting across a desk from you.

Okay. Do you have any idea how many miles you have on that Mini Cooper, the electric? Around 50. You also need one of the assignments I'm going to add to this. I'm just doing some quick web research, so I don't want to hold you to this, but I would be looking to see if that thing is worth what you owe on it right now or pretty close to it. You might be able to break even on that one.

Which would be the play. But you've got to check that out right now what's it worth right now if you sell a private seller now dealership's not going to give you what it's worth a private seller i would be looking at that blue book value today the thing on the market on craigslist and trader.com and get it sold for 25 000 yeah instead of instead of losing money you gain money because i'm looking over ken's shoulder right now i see twenty seven thousand twenty nine thousand might be the value on this thing yeah okay so y'all look at that and let's make sure because if your husband is looking at trade-in value only instead of private sale and that's how he determines you're upside down then

he's just signing you up again for another mess because y'all really suck at doing car deals i mean everything you've touched around cars really sucks so i'm really not trusting your husband's input at this point i'm not mad at him but i'm just saying y'all need to do detailed research sell these things for as much as you can sell them for to an individual borrow the difference or sign a note for the difference and quit signing up for ridiculous interest rates and stupid but car deals that oh my god an electric mini cooper yeah yeah wow somebody got impulse fever yeah and it wasn't an electric impulse i'm just saying i was wondering if that's where you were going oh man and by the way i just pulled up just for our friend and and Allison and all of you that kind of wonder, Dave, what is he talking about?

Is it going to work? Yes. I'm looking at some really decent cars in the Jacksonville area under $5,000, folks. It is doable. What Dave played off, it's really doable. 2003 Honda Accord EX, $4,900. $4,900. A Honda will run for 300 decades.

Until God comes back. I'm telling you. A lot longer than an electric Mini Cooper will. That's true, actually. Oh, gag. This is The Ramsey Show. Thank you.