The Ramsey Show - App - I'm an Overwhelmed Single Mom and Don't Know What To Do (Hour 3)

Episode Date: July 8, 2021

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Live Live from the headquarters of Ramsey Solutions, broadcasting from the Dollar Car Rental Studios, it's the 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'm Dave Ramsey, your host. Thank you for joining us, America. We're so glad you're here. Open phones at 888-825-5225. That's 888-825-5225. Noah is with us in Phoenix, Arizona.

Hi, Noah. Welcome to the Ramsey Show. Dr. John Deloney is my co-host today. How can we help? Hey there, Dave. Thanks for taking my call. Sure. Hey, so my family, my parents helped me out. We actually just moved out from Washington about seven months ago, eight months ago, and my family helped me buy a house in, um, in, in Arizona and housing markets so much cheaper here. Um, so, uh, I, uh, they actually recently just decided to purchase, they also purchased a house down here. And so they also recently just decided to, um, build a new house, um, in the same city. And so they're going to be, um, they, they actually co-signed with me

for this house that they helped me buy. Um, and they want to refinance to get the house off there. Um, sorry to get the loan off there off their, their back. So then, um, it'll just be on my name and then they can have more room for whatever they're doing. Um, I'm curious if I should possibly sell the house or like when, when we refine it, because the house has already made a bunch of positive equity or if I should, uh, refinance, like they say. How old are you? I'm 25. And you said, wait, are you married? Uh, no, I'm sorry. I'm not. Uh, it's just me. No. Okay. All right. And so you, you bought a house and how much do you owe on the house?

Uh, I actually, it's about two, uh, 247, so 247,000. Okay. And what do you make? Um, so I did the math here. I actually have renters. I live in the house. I live in one of the rooms. Two of the renters also live in the house. Now, not counting the renters, what is your income, sir? Without the renters, it's about, it's only, after tax it's about $33,000.

Before tax it's about $39,000. What do you do for a living? With renters it's about $33,000. Before tax, it's about $39,000. What do you do for a living? With renters, it's about $46,000 after tax. Okay, well, let me help you with this. You make $33,000 a year, you can't afford a $250,000 house. You can't afford the house. You can't refinance it. You won't qualify for the loan.

You understand? Yeah, I get you. Not even close. When you make $40,000 a year, you cannot qualify for a $250,000 mortgage. Got it. Because the payment is as much as you make, man. Well, it is, and I checked it out, so if I did not have renters, I would be paying, I would be breaking about even, but because I have renters, I'm also paying for college on top of this, so it's about a grand.

Yeah, but the mortgage company, when you go to refinance, will not qualify you based on renters. They will not use you renting out the bedroom as a way to pay your bill when your payment is equal to your income. I would sell the house and take equity and pay for college. Yeah, you need to sell the house and go rent something really cheap yourself and finish up college and get your income up and then talk about buying later and this is going to be a hard conversation because your parents probably gave you some story well your parents are out of their dadgum minds yeah to have put you in this mess to

start with to have assisted you to get into this trap i mean dude if your roommates don't pay one month you don't even eat if you pay your house payment this is this is cray cray these this mathematics on math on this is nuts yeah so yeah you you have really stepped deep into a hole here and even for them to have to get off of a cosign so that they can buy a second house and build it versus they're playing a shill game too, man. Yeah, it sounds like they're in a mess themselves, but that's another story. But yeah, for you, you're 25 years old,

you're going to college, you're making $35,000, $39,000 a year. Sell the house, get the equity, pay for your college cash. Make sure you're debt-free, stay debt-free, do everything you can to get your income up. Be studying something in college that causes your income to go up. Don't study some left-handed puppetry degree. When you have kids, you can buy them a house outright, not just co-sign for them.

Good grief, man. Later on. But, yeah, mom and dad love you thank you no because you can't refinance it even if you want to no mortgage company is going to give you this loan and they shouldn't because you can't pay it tanya is with us in amarillo texas hey tanya how are you hey dave hey dr deloney how are you great how we help? Good. My family is facing a big move. It's a good move, but it's a little bit scary. We're moving to my husband's family's farm to start taking over as his parents retire. It's across states. We currently live in Texas and we'll be moving to Oklahoma.

We recently paid off all debts and we'll be selling a house with a good amount of equity. So my question really is, how can I go about doing a good job of estimating what our expenses might be as we step into baby step number three. And then secondly, kind of jumbled all the baby steps by paying off the mortgage and moving in baby step two, and now we're at three and we need kids in college. And so just that's the very primary question is, is there a good way to estimate expenses when you just don't know? I know cost of goods will be decreased but taxes will be quite different both income and um retail and grocery so i don't know how to estimate that i don't think oklahoma is that different from texas

well i've ordered groceries a few times for my husband while he's there and it it's the groceries tax is going to be, I'm afraid that's going to creep up on us. Nah. Not like you think it will. Nah, it's not that much different. I think whatever your household expenses are now is probably a good place to start for estimating your household expenses there.

Plus or minus, whatever, you're going to change with the move, but in terms of Oklahoma cost of livinglahoma cost of living versus texas cost of living yeah unless you're moving from like a major metro area in dallas you know dallas or houston or something and you're moving to a rural area in oklahoma it might go down some but food cost is not going to be appreciably different utility cost is not going to be appreciably different um really no other there's nothing that's going to be appreciably different. Really, no other. There's nothing that's going to be substantially different. The real estate prices may be different in the areas that you're going in, but you're not even dealing with that because you're moving onto a family farm.

I think it's a spiritual issue, Dave. When you race in Texas, you know that Oklahoma's the enemy, and she's moving into enemy territory, and I think she's just not sleeping well at night. That's what I think. My heart's with you, honey. Listen, his name is Dr. John Deloney. You can find him on social media and respond to that. I don't want to hear about it.

This is The Ramsey Show. I saw some recent financial statistics, and there was some pretty troubling news. When families were asked how long it would be before they faced financial hardship if a spouse died, nearly one-third said they'd be in trouble immediately. Another 44% said they'd be financially drained within six months. People, it does not have to be this way. Term life insurance plans are just plain cheap, and companies have made it even easier by not requiring exams in many cases. There really is no excuse to leave your family in this situation by not having life insurance.

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doesn't have to be like this it doesn't take as long as you think to get out of debt people do it pretty quick once they get on a plan. It all starts with Financial Peace University. This is the class that's helped millions and millions of people learn the proven plan to get out of debt and build wealth. But it's not enough to just learn the plan. You've got to put it into action every single day. And the way you do that is by budgeting with EveryDollar, the world's best budgeting app. And you can get Financial Peace University and EveryDollar only with a Ramsey Plus membership. A lot of other stuff at Ramsey Plus as well, but that's where a lot of people get started. You can create a life where your money works for you and not against you.

It's time to get out of the debt fast and for good. Start your free trial of Ramsey Plus by texting TRIAL to 33789. Text TRIAL to 33789. Matthew is in Tucson, Arizona. Hi, Matthew. Welcome to the Ramsey Show. Hi. Thanks for taking my call. Sure.

What's up? I have a question for you guys. It's a kind of dock-to-boat situation. I am in the Air Force Reserves as a federal civilian doing the same job, and I'm looking at transitioning into the Chaplain Corps for the Air Force, and they have a program that will help me with my master of divinity and get me experience and stuff like that. But by entering the program, I lose my civilian position

because it's tied to my enlisted position in the reserves. So I'm trying to figure out when would be the best way to kind of step over to the boat while I'm working out my finances. Okay, so you have another job other than the National Guard, right? So yeah, I'm an Air Force reservist and I am an Air Reserve technician. So during the week, I'm a federal civilian and on one week a month, two weeks out of the year, I'm enlisted, but it's the exact same job. I'm an aircraft mechanic. Okay, so you're a civilian aircraft mechanic now.

Correct. Okay. But you're wanting to drop that, which pays how much? About $79,000 a year. Yeah, so you're going to drop an $80,000 a year job to go as a full-time reservist or still be a part-time reservist? So I am, it's a complicated position because I'm both right now, but I'd be stepping off from enlisted to commission. So, um, by going to commission, I would finish school with this program. Um, and then after two years,

there's a possibility of me being able to go active duty afterwards, but it would be a two to three year. Um, where is it you're trying to end up i want to be an active duty uh chaplain in order to provide um a lot of help for individuals in the service that good you don't have to have an mdiv to do that okay chaplaincy in the military does not require an MDiv. It does. No, it doesn't.

A lot of them aren't even Christians. A lot of them are chaplains, and they have a completely different belief. They're Hindu. They're Muslim. They're everything else, and they certainly don't have an MDiv. It's a Master Divinity or equivalent is what the requirement on the site says. Okay. I think you need to do some more investigation.

We work with chaplains all over the world in the military. They're the ones that run Financial Peace University in the military. And I've spoken to the groups. They're very diverse, and they're very in their faith base and everything else. And it's not a – I'm not 100% sure, but I'm pretty sure that there's a lot of those folks I've met that are not master's degreed. Right. And it says equivalent. That could be any sort of seminary-like or denominational, whatever.

No, I guess it could be a master's in finance, for all I know. If it's a master's level,'s saying because i'll guarantee you they don't have a master's in theology if you're uh uh you know if you're a practicing hindu i mean you know or wiccan or whatever else i mean i've met chaplains that have just about every kind of faith yeah and in the military and so uh the public has this perception that the chaplaincy is all the guy on mash and it's father so-and-so, right? It's not. It's not. Because I made the mistake.

I thought I was talking to a bunch of preachers, Christian preachers, when I went in there. And they're, like, looking at me like I had one eye in the center of my head. Because I was Jesus this, Jesus that, right? And all of a sudden I found out, well, Jesus isn't what all of them are doing. Gotcha. So it was kind of a little awakening for me. I kind of stepped in it, what I did, because I was ignorant of how the chaplaincy in the military works. It's very interesting, but it's not what I had the perception that it was. I thought it was Father whatever-his-name-is-all-mash.

I thought that's what it was, right? But anyway, it's not. So anyway, I think you need to do a little more investigation into that, and I think you could probably get into the chaplaincy program, and the military would cover your master's while you're full-time military if you enlisted. That's what I've never heard of somebody going to say, hey, you know what, I want to stop this part-time gig, this weekend gig, and I want to go full-time enlist, that's what I've never heard of somebody going to say, Hey, you know what? I want to stop this, this part-time gig, this weekend gig. I don't want to go full-time and list and then be told no.

Right. I've never heard that it may exist, but if you want to go full enlist, my understanding is they'll, they're, they're happy to take you. Yeah. I think they'll take you. But the question is, can they plug him in and pay for the masters and plug him into the chaplaincy program straight up? I'm not positive of that, but I think that could be arranged with a recruiter yeah i really do i think they would enjoy your help

um at a big time and so uh but no i'm not going to walk out and of an eighty thousand dollar position uh down to part-time or no time uh and to go to grad school full-time for two years in order to end up in the chaplaincy in the military that's you know there's there's got to be another route another path to get there that is going to be much more palatable on your checkbook yeah but he did bring up something that I think is important sometimes when you're looking at these job requirements you spend a lot of time a on your head and b on the internet and that's it like what Ken says, Ken Coleman says, you've got to go sit down with somebody who's doing this job

and say, give me the path. What is my point from A to B? And they can help you. They may tell you Dave Ramsey's a nut and doesn't know what he's talking about. It does require a master's. They may tell you that. But my experience with them does not indicate that. And I've actually had lots and lots and lots of conversations

with lots and lots of chaplains over the last 20 years i mean they're they're in here every week just about somebody stopping in and um i've been to their their their gatherings and everything else i don't know what to call it but um you know but but so we love we love military chaplains i know that we love the military and we really love military chaplains. Absolutely, man. We love the military, and we really love military chaplains. They've got a special job, special calling. So very interesting. All right, open phones at 888-825-5225. You guys jump in.

Dr. John Deloney is my co-host today, and we'd love to have you participate with us here. Why does counseling have such a negative connotation reed wants to know oh man i think it's probably a holdover from the old days that only crazy people needed to go see somebody you see a shrink right and which comes from which doctor shrinking heads right that's where that comes from yeah it's head shrinker there's a i think our parents grew up in a world where uh you only went if you were quote-unquote nuts right or someone was crazy i look at counseling now it's it's a set of it's a set of skills a set of tools i don't have right it's a teacher and you sit down and someone can hold up a mirror and reflect you back to you and

be an external if you just call it if you call it life becomes okay. That's right. Or if you call it a hardware store, I've got to go to some different tools, it becomes really okay. I'm not sure why it has a negative connotation unless it's a holdover from that, though. That's all I can think of. This is The Ramsey Show. We'll see you next time. Dr. John Deloney, Ramsey Personality, is my co-host today. Kara is with us in Sacramento, California.

Hi, Kara. How are you? Hi, Dave. Thank you for taking my call. Sure. What's up? I am just extremely overwhelmed, I guess, is the best way to say it. I'm a single mom. I grew up also with a single mom and who struggled. I'm definitely not as bad off as I was growing up, but I am still struggling. And I know you're going to say I have an income problem. I'm pretty sure. My friend just introduced me to you. So I've been like for the last few weeks listening to the podcast and, you know, like sometimes I'm like, woohoo, I got the answer right.

I knew what you were going to say, but I just can't handle my own mess for some reason. I just, I filed bankruptcy in 2019 because a creditor was going to take 25% of my wages. And at one point I had tried to put 10 percent in my retirement and I didn't have enough for rent. So I knew 25 percent was like a no-go. So I did file bankruptcy. I did open a couple credit cards after just to build my credit, which now I know is a bad thing, but I don't use them. I put a small amount. I pay it right off. I was literally just trying to build my credit. I don't want a fiasco. Um, my rent is going up again in August.

Um, I just, I don't know what to, what to do. I'm terrified. I have like no. How old is your babies? Um, well, they're actually pretty much grown. My youngest or my oldest will be 24 in August and my oldest youngest will be 17 in August. And you've raised them completely by yourself for the most part yeah um my youngest one her dad we he's basically raised both of them we started getting my oldest one was five months old so he's her dad the only guy she knows but um yeah he's been in the picture the last probably since she

was nine and been like continually in the picture so but you've been you've been an unmarried mother of children yes their whole life and i yeah yeah and stop them hey stop a minute stop a minute. Hey, stop a minute. Stop a minute. Okay. You're a freaking hero. Yeah. You're amazing. Thank you. And you're exhausted. I am exhausted. I mean, I'm fortunate that my job, I'm a surgical technologist, so I'm able to pick up extra shifts and call.

And for many years, I worked six or seven days a week. You've not known how to do anything for 20 years except put out fires? Yeah, basically, yeah. And I've heard you twice. It gets tired. I've heard you twice on this call try to minimize what you're doing. Yeah, but I'm really lucky, and yeah, I know it could be worse, and yeah, I know you are doing hero work.

And you've almost got it done i mean you're almost done this is pretty amazing okay so so let's let's open the next chapter let's open the next chapter and make it awesome together okay yes i'm so proud of my girls every now they are very financially conscious for real and um i want you to be as proud of you as you are of your girls. And you're not proud of your girls. I'm proud of you. I'm proud of you. Yes.

Thank you. All right. So what do you make a year? My bring home is about 41. It varies because and I just recently started taking up more shifts like a mad woman again. So what are you at 45? 44. Yes. Pretty good guess. Almost like I've done again. So what are you, 45? 44, yes. Pretty good guess. Almost like I've done this. Okay. Yeah, a time or two.

Alright, so, okay. So you're a 45-year-old single lady whose kids are grown. Yeehaw. Okay. So, for the next 20 years of your life, 25 years of your life, you get to have what we call an encore, where you

come out on the edge of the stage after the play's over and you take a bow and then you go again. So now let's just start fresh. Let's pretend we're 18 or we're 45 and we got a whiteboard. Where do you want to be? Who do you want to be? What do you want to be doing when you're 65? I want to not be afraid to retire i'm not talking about your career yeah oh my career i i absolutely love my job i love being

a surgical tech i would love to go and finish i would love for you to make twice as much money as you make so what are we going to do me too what are we going to do our pa has always been my goal oh now we're talking. All right. I like that one. That's a good goal. So what steps are we going to take to be a PA? How are we going to do this?

Go back to school. Uh-huh. Ta-da. And, yeah, go back to school. And, I mean, I don't feel like my question is right. Will the place you work for pay for it? Well, they'll do tuition reimbursement. Yeah, that's kind of like paying for it, yeah.

That's awesome. Yeah. I'm liking our plan already. Once you get to a certain point, you have to be able to support yourself and do it, because you can't work full-time anymore at that. I know, but listen, you're already setting up roadblocks, and we're just going to pull them. We do this for hours we keep pulling them out so let me tell you what successful people do okay they they look out there and they say this is where i

want to be we've already identified that then we ask ourselves the question what has to be true for that to occur that's not true today okay and we've already established some a couple of those things one is you're going to go back to school two is somehow you're going to have to prepare a way to eat while you have to take a little bit of time off to finish that schooling and we're going to get there and oh by the way along the way we're going to get out of debt and along the way we're and oh man they're going to pay for it for you so this is getting even better because there's tuition reimbursement i'm loving this all along as a matter of fact you might find a program that would allow you to continue to work there and do your do your practicum there uh or whatever it is

you're having to do i don't know i haven't finished yet you just started this is going to be awesome awesome hey cara can i just talk to you every day to cheer me up hey cara listen i'm gonna tell you this in 30 seconds. Okay. My mom didn't go to college. She came from an ecosystem that didn't support that. At 42, she took her first community college class. And then she took another one the next year and another one the next year.

This is my mom. I watched it happen. And then at 53, she graduated. No, I'm sorry. At 57, she graduated with her Ph.D. At 63, she graduated. No, I'm sorry. At 57, she graduated with her PhD. At 63, she was tenured. And at 70, she just stopped being the department chair at the university that she now works at. So here's what I want you to know. That's a map that Dave's just telling you.

Honey, you're just getting started. You have a whole. I think I have an age. Who cares? In my own head. It's in your own head because you're talking to a 60 year old and i'm pissed off now and listen dave's old trust me he's old but he's still going right just you're dead john when we get off there you're just dead kara you got a you got a you got the back half to go you've just played nine holes and you got

nine more to go it's encore baby take a bow i just played nine holes, and you've got nine more to go. It's encore, baby. Take a bow. So I'm just feeling, like, exhausted. Hey, you should. You just finished a freaking battle. An 18-year battle. A 20-year battle. And you got battle fatigue.

Yeah. And I am proud of the fact that I don't, like, I'm not frivolous. I mean, I have my times where I spend here and there that I shouldn't. If you haven't done some stupid stuff, you wouldn't be human. Exactly. Yeah. Stop it. But I don't vacation, things like that.

Okay, so here's what we're going to do. Here's what we're going to do. Okay. You need to go through Financial Peace University because you're going to get this stupid credit card stuff and this bankruptcy stuff in your rearview mirror instead of out your windshield. I'm tired of it being in your windshield. It needs to be in the past. Yeah.

You need to put it back there. We're going to stop doing the stupid stuff that puts you there. And that's the healing of your finances are going to put you on track to go be a PA. You're going to be a PA. Yes. You are. And you're going to make more money from 55 to 70 than you did from 25 to 55. And it's going to be so fun.

And you're going to throw your shoulders back and go, look at me. I did do this. That's right. So you have taken care of everyone else, and now it's time to take care of you. You've been proud of everybody else, and now it's time to be proud of you. Ding, ding, girl. What a stud, man. You're amazing.

Hold on. Kelly's going to pick up. We're going to put you in a Ramsey Plus membership for a year as our gift to you. Awesome. To put you on the way. And we want you to get in there and get into Financial Peace University. Get the EveryDollar app going and get your finances straightened out. Go to KenColeman.com.

Start following the stuff Ken is doing on career. And you have 30 days to start taking solid steps on this journey. I don't want to talk to you again 60 days from now and you have done nothing except whine. You should be in school. You go get this done. Be in school. Get going now. This is The Ramsey Show. our scripture of the day proverbs 16 9 in their hearts human plan humans plan their course

but the lord establishes their steps. Mark Cuban said, work like there's someone working 24 hours a day to take it away from you. Woo! Get them, Mark. I like that. Get them. I love it. Jake is with us.

Jake is in Knoxville. Hi, Jake. Welcome to the Ramsey Show. Hey, Dave. How are you doing? Great, man. How can we help? Oh, I didn't know Dr. John was going to be on the show with you today. Otherwise, I would have revamped my question.

But the question I called in about was I'm taking the financial coach master trainer course. And obviously, everybody, it doesn't follow the Dave Ramsey plan, the debt-free plan. So how do I coach somebody, obviously, with the goal in mind that I'm going to try and make them or have them come to the conclusion that the debt-free lifestyle is the best way to do it? But if they're insistent upon credit score and credit cards, how do I coach them to do the wrong thing in the best way, I guess? Okay. I don't to do the wrong thing in the best way, I guess. Okay. I don't really understand the question. You're saying that you're a financial, you've gone through our financial coach master training,

and someone's going to come in and pay you for financial coaching, and they don't want to follow your advice. Well, not exactly. Just more along the lines of well that's that's exactly if you're going to teach if your advice is don't build a credit score and your advice is don't use debt but they're bound and determined to do it how do you coach them the answer is you can't you fire your client you move on same thing in counseling if you're making recommendations and your client you're a marriage counselor and the husband is sleeping around on his wife and you say dude you you don't

you've got to stop that that doesn't work in marriage and he says oh but that's what i believe i believe it's okay and you go i can't help you i'm not a good you're an idiot yeah i'm not a good fit for you yeah you're gonna have to go find someone else that has a different belief system. Yeah, the same level, but I get the reference. So I would just not coach somebody like that, but then that would take away from possible income on my side. No, it won't, because if you coach people to do stupid stuff, you're not going to get new clients.

You want to teach someone to do the wrong thing efficiently? Yeah, think back to your question, brother. I guess that makes sense, yeah. Yeah, I mean, because here's the thing. Word's going to get out on you that you're coaching people to do the wrong thing well. Jake, it sounds like you don't believe it. Do you believe it? No, I absolutely believe in the debt-free lifestyle.

My wife and I are on baby step two, and we're getting ready to pay off our debt come October. Yeah, I got a friend. Listen, I got a friend the other day that leased a car, okay? He's a friend of mine, but he did a stupid thing. He leased a car. But he can't come up to me then and go, I'm not going to go, well, here's the best way to lease a car. I'm going to say, don't lease a car. Don't lease a car.

So guess what? He didn't ask me because he knew what I was going to say. Not everybody initially comes into coaching thinking oh i'm going to get that free obviously that's something we want to lead them to on their own to make that decision based off of the information that we give them but exactly but in the meantime how do i in the meantime you continue to say this is what you need to do yeah don't use that i'm not going to teach you how to use debt it's like someone calling me on the radio and saying how can i build my credit score i'm not going to assist

them in doing that although i know how to assist them in doing that but i don't believe it's good for them and so i'm going to say i can't help you with that what i can help you with is that here's the reasoning why you don't need to build your credit score, because it's an indication you've been borrowing money your whole stupid life. It's not an indication that you're good with money. A high credit score is not an indication that you're wealthy. It's not an indication that you're smart. It's not an indication of anything except you paid a lot of interest to some stupid bank for the last 15 years. This is the only

way you get an 800 credit score and so i'm not going to help you build your credit because i don't think it's good for you uh if you want to do that you're going to do that on your own and you know but here's the thing if you're going to if you want to be agnostic as a counselor you're going to be ineffective. Agnostic to the principles. Think about a basketball coach. If you don't care about winning, you're not going to be a good coach, right? And so if your player comes and says, hey, I see that you want to run this offense,

but really I just want to jack up three-pointers all day, then I'm not going to be your coach. You're not going to be on my team. That's the only way you can do that, right? Yeah, you cannot be agnostic to principles when you're coaching especially for short-term business gain that will fail in the end every time every time yeah when uh when people want to by agnostic i'm not talking about faith i'm talking about you you're you're not tied to the principle as having it works. I'm not agnostic to the law of gravity.

Right. I believe it. I believe it's a law. I've experienced its effects. Correct. And if my three-year-old grandchild wants to do something that's going to put him at risk, I'm not going to go, well, try that flying thing and see how it works. Just jump your butt off a two-story building and see how that works out for you.

I'm going to stop him from doing it because I love him and it's going to hurt him. You know, it's a law. It's a principle, and I'm not agnostic. But the three-year-old grandchild, in their ignorance, may be agnostic to, they don't give a rip about the law of gravity because they don't understand its effects yet. And so you have to adhere to principles in order to coach. And so when you're a financial coach, you've got to have your firm principles. This is the way I teach how to be financially successful. And if it's not a fit for you, that's fine. Because, listen, if you want to leverage, if you want to buy nothing down in real estate,

and you want to leverage and go up your eyeballs in debt and buy everything in sight and not think anything about debt and the risk associated with it, and you don't think debt is bad, you should see my good friend Robert Kiyosaki. He can help you with that. Robert and I are friends. He's a great guy. He and I completely disagree on this. And he's not agnostic about it either, by the way.

He firmly believes it's the best way to build wealth, and I firmly believe it's not. But we're still friends. We don't disrespect each other or anything like that. But if you want to buy nothing down in real estate, you don't need to call Dave Ramsey. He's not going to help you with it. You need to call Robert. He'll help you with it. And so I'm not a fit for everyone.

If you want to be a Bitcoin billionaire, you don't need to call robert he'll help you with it and so i'm not a fit for everyone if you want to be a bitcoin billionaire you don't need to call me because i'm going to tell you bitcoin's stupid don't do it and and you know which i need to say that at least once a day because it keeps the internet really buzzing i'm happy to say the more i say it the better it goes so the better the better the uh social media people the bitcoin coin warriors it's my favorite thing to stir up since the gold bugs. It will be at zero. When I start up all the gold people. But anyway, I don't believe in buying gold either.

Let's piss those guys off. I don't believe in buying whole life life insurance. Let's piss those guys off. I don't believe in buying a car on debt ever. I'd ride a bicycle first. Wait a minute. Do you like buying timeshares, Dave? Tell us about timeshares.

This is the thing. So you really, really, really, you got to makehares, Dave? Tell us about timeshares. This is the thing. So you really, really, really, you got to make that call, Jake. And that's why John was questioning whether you believe it or not. I believe you do believe it, but I think you're just trying to be a nice guy and help everyone. That's a great point. You can't do that. You're not going to be a good fit for everybody. It's going to cost you some business, and you're going to need that extra coaching client,

and you're not going to get that money per hour that you've got built in because you stuck to your principles, and that's how you win long term. And they'll say, that guy Jake, me and him don't agree, but he does know who he is. And he's honest. He was honest with me. He was honest with me. He told me not to do it. And this is who I'm going to be.

This is the plan I'm going to follow. I'd love to take you there, but if that's not for you then so be it yeah that that that's the thing it's a good question it just takes me a minute to unpack why do i believe why do i think that because it's automatic for me yeah after all these years of doing this it's just autopilot i don't even think about it well and and i'll tell you back in grad school we had some class sessions on how to appropriately break up with a client. Say, I'm not a good fit for you, and I'm sorry. But you know what?

It is a skill you've got to learn, right? But there's this thing, and it's not Jake, but there's this thing in the culture, and Jake, we're partially reacting to that, that we're supposed to be okay with everyone. And I'm not. Yeah. Because some of them are dumb. Yeah. You know, you just need to do it. You know, you need to go,

there's a right and there's a wrong. There's a good and there's an evil. And it's, you know, there just is. And this thing, you've got to be willing to do that. You've got to be willing to do that or you're going to be ineffective. Dr. John Deloney puts this hour

of the Ramsey Show in the books. We'll be back with you before you know it. In the meantime, remember, there's ultimately only one way to financial peace, and that's to walk daily with the Prince of Peace, Christ Jesus. Did you know you can listen to The Ramsey Show on your smart speaker? Just tell Alexa, Google Assistant, or Siri to play The Ramsey Show podcast. Check out all Ramsey Network shows on your smart speaker today.