The Ramsey Show - App - I'm Anxious About My Job Options (Hour 2)

Episode Date: April 9, 2020

Dr. John Delony, Career, Debt, Home Selling, Home Buying Tools to get you started:  Debt Calculator: http://bit.ly/2QIoSPV Insurance Coverage Checkup: http://bit.ly/2BrqEuo Complete Guide to Budgeting: http://bit.ly/2QEyonc Interview Guide: http://bit.ly/2BuGnZE Check out other podcasts in the Ramsey Network: http://bit.ly/2JgzaQR 

Live from the headquarters of Ramsey Solutions, broadcasting from the Dollar Car Rental Studios, it's the Dave Ramsey Show, where debt is dumb, cash is king, and the paid-off home mortgage has taken the place of the BMW as the status symbol of choice. I'm Dave Ramsey, your host, Dr. John Deloney. Ramsey Personality joins me this hour, answering your questions about your crisis issues, your anxieties or fears or boundaries or relationship things that are going on, and we'll also take, of course, your financial questions as we continue to serve folks who are, many of you, at home, of course, and many of you still facing a level of fear. Some of your fears have shifted from being afraid of the virus to now being afraid of the economy.

And that is happening more and more on a daily basis as the virus subsides and the economy continues to go down. And so we need to get both of these things turned in the right direction now and uh and lots of folks you know there's a lot of anxiety that goes with that there's a lot of fear uh sometimes even hysteria and um we said this last hour john but the good news is it appears people are calming down a little bit. Not everybody, but there's some people who are still just completely freaked out. But there seems to be an acceptance. Maybe they're going through the stages of grief.

I don't know. You know sometimes when you see a toddler and they're just throwing a temper tantrum, and the best thing to do is just walk away and not let them get that attention. Eventually they run out of gas, right? Then they sit up and say, I didn't get what I wanted. Now what can I go do? Right. And so I think we're in week three, week four, week five for some of us,

and we've thrown our temper tantrums, and now we've got to get about the work, right? We've got to take care of our kids. We've got to take care of our homes. We've got to take care of our businesses, and we've got to get after it. Yeah, and I think there's a, I don't know, acceptance doesn't feel like the right word. There's just only so much gas to that anxiety fire, right? It just burns itself out.

It does burn itself out. The fear burns itself out. And then that's when you get to be courageous, right? You get this information dropped on you. You don't know what to do you get the uncertainty and then you get to decide am i going to go be brave or am i going to sit down and just accept what comes i mentioned a few weeks ago i had read read the new book by eric larson on uh the first year of churchill's uh serving as prime minister and hitler began the

bombing on london and on england at that time at that time. And the English people went through that. At first, there was just sheer terror. We're all going to die, we're all going to die, we're all going to die. And by the time a year had gone by, 17,000 people out of several million in London had died from the bombing. There was massive destruction from the bombing. Homes, businesses, cathedrals destroyed. Millions of pounds of bombs. I mean, it was crazy. Then only 17,000 people got killed, which is kind of, when you look at it statistically, is just amazing.

But the people, they reached a point of satiation that they just... Something about the human psyche just refuses to live in terror odd infinitum forever and it just finally you just kind of it's acceptance it's uh denial it's whatever you want to call it but there was this this psychological thing that occurred that it actually had the exact opposite effect on the english people that hitler was hoping for he was hoping to cause them to bend a knee and to bow and instead they just stood up with their fists shaking in his face there's we forget all the time when we see crisis coming we see stock markets starting to go down we see things that we've never seen before we just forget how resilient people are and how kind people can

be and how service-oriented people are and it's really remarkable to watch people kind of stand back up and say, I'm going to be a part of what's coming next, and I'm going to put my head down, I'm going to take care of my loved ones, I'm going to take care of my community, we're going to go get it. You're going to be okay. It's incredible. It's always amazed me working with people in the financial world, obviously, in crisis where we see the mental health outcomes when they get in stress. And so it's interesting to me how resilient people are.

They can survive a lot more than they think they can survive. On one hand, on the other hand, sometimes how fragile they are, how little it takes to just put them into a tailspin. It's this like a teeter-totter of, you find out how little control you actually have. We think we control everything. We just have a little. And this other side of us,

we're so resilient and we're so strong. I was doing an interview this morning and I mentioned that at the beginning of this week, I picked up Viktor Frankl's Man's First Remaining again, just to reread that book for the umpteenth time. And it's just this triumph of the human spirit. You can take everything from me, but I'm not going to give you my why. I'm not going to give you my will.

That's mine. And it's just a gift that keeps on reading, right? And it puts this in perspective, too. It puts this in perspective. It's a great reframe. Concentration camps are different than quarantine. There you go. And being bombed in the city of London or anywhere in the U.K. in World War II is different than simply not being able to go out to eat.

They've got to bring it to my house. That's right. It's just a problem. Aren't we a spoiled group? Me included. I feel the same way.'t we a spoiled group? And me included. I feel the same way. I'm ready to go back out to eat. But aren't we a spoiled group of people?

We really are. It's amazing the things that we declare to be a crisis. Not the health stuff, but the quarantine inconveniences and weirdness of the stay-at-home orders and all that stuff. It's very interesting. Or the great trauma of this year has been you've got to love your kids a little bit more, and you've got to get along with your spouse a little bit more, right? You have to play a board game. Yeah, amazing stuff.

By the way, one of our other Ramsey personalities put out a book this week. It's what we're calling Ramsey Press's, Ramsey Publishing's Quick Read. Quick Read is really not a full book. It's more like a chapter or two. And so you can read it really, really fast, in other words. This one is like 64 pages long, to give you an idea. Anthony O'Neill did this because Anthony had a number one best-selling book um called uh debt free degree how to go to college debt free and when he was out touring with that he kept running into people who were saying uh well that'd be nice

but i'm already out of school and i have student loan debt so what do i do and he would of course refer them to financial peace university which by the way you can take that on a 14-day free trial right now. Not for much longer, though. If you want that 14-day free trial, you should jump in on that. But he kept hearing that, and so he wrote a book just about getting out of student loan debt, a quick-read book. We called it Destroy Your Student Loan Debt. It came out this week. You can get it on Amazon.

You can get it at DaveRamsey.com. Destroy Your Student Loan Debt. week. You can get it on Amazon. You can get it at DaveRamsey.com. Destroy your student loan debt. And he takes a deep dive into Baby Step 2, The Debt Snowball, with this new $10 book, The Step-by-Step Plan to Pay Off Your Student Loans Faster. And these little quick reads are going to be, we're going to do

several of these. I like this format. And we're going to continue to do regular books as well. But some of you, some of these issues don't lend themselves to a full book, and people try to stretch them into a book, and it just makes a bad book. So we're just going to let it be what it is, a chapter or two, and put them out for you as a quick read. If you're new to the Baby Steps or you know someone that's new,

now, if you're an old Ramsey tribe member, you don't need this book. You've already read all this stuff. Others of us have written it. But go to DaveRamsey.com or call the Ramsey Concierge team at 888-22-PIECE. They're all working from home, but they'll pick up. 888-227-3223. You can pick it up at Amazon as well. Destroy Your Student Loan Debt by Anthony O'Neill.

Great $10. Oh, graduation gift. There you go. That will work. This is the Dave Ramsey Show. For most of us, health care costs seem to increase every year, and saving money on health insurance

feels more and more out of reach. For example, take the Olcheski family from LaGrange, Texas. Jeff and Cherise had just celebrated the birth of a new baby boy. Shortly after, they had a health scare involving one of their kids that was completely unexpected. With today's health care climate, this could have bankrupted them. But thanks to Christian health care ministries,

the Olcheskis were spared from a ton of medical bills. As members of Christian health care ministries, they're part of a group of believers who financially and spiritually support each other. CHM is the original health cost sharing ministry and is a Better Business Bureau accredited charity. It's biblical, affordable,

and it's shared nearly $97,000 to help the Olszewskis. To be a part of Christian Healthcare Ministries, visit chministries.org. That's chministries.org. That's chministries.org. CHM is a proud sponsor of Dave Ramsey Live Events. chministries.org. Well, folks, we've got some good news. Yeah, I know good news is rare, but there is some.

The IRS has moved the deadline for filing your taxes. It was April 15th. Now it's July 15th. And that's moved the deadline for filing your taxes. It was April 15th. Now it's July 15th. And that's good news for those who owe taxes because now you have an extra 90 days to budget for it. And you can use this extra time to focus on covering your four walls, food, utilities, shelter, transportation. And then you can make sure you have the money for the tax bill as well. It's still smart to go ahead and do your taxes as soon as you can. And, of course, if you're getting a refund, file immediately.

It may take the IRS. They're not working either. It may take them a while to get your refund out. And this is for federal taxes. Now, here's the thing. You ought to go to DaveRamsey.com and take the tax quiz, DaveRamsey.com slash tax quiz, and figure out if you need to send your stuff to a pro or if you need to file online. If you have a very simple return, online is the cheapest and easiest.

It takes real fast to do. Obviously, if you have something a little bit more complicated, hiring a pro usually cost justifies, meaning that you're going to save more on taxes than the pro actually costs you. I can promise you this. I don't do my taxes. Unbelievably complicated. One little thing would pay for the whole bill. And so it's definitely wise.

The more complicated it is, the easier it is to find that that knowledge can find savings for you. And so DaveRamsey.com slash tax quiz. Be sure and take that right now. It's quick. It takes about five minutes to take it, and it'll tell you a whole lot about yourself. Our question of the day comes from Blinds.com, the number one online retailer of custom window coverings, free samples, free shipping. And with the new promos they run every month, you'll save even more.

Use the promo code Ramsey to get the best deal. Dr. D., our question is from Michael in Kentucky. Dave, as the owner of a small business, should I stop taking a payroll check and file for unemployment insurance? I'm thinking this may be a better way to keep employees working without taking some of the loan money available. My understanding is I can still work trying to keep my business afloat, even though I'm collecting unemployment. I'd love to know your thoughts. I don't know if you can do that or not.

I don't know the unemployment laws as far as that. If you can do that, I would, and I would not take out the SBA loans. I think they're ridiculous. I think you're asking for trouble with those. But lots of businesses, large and small, the leadership and the owners are taking pay cuts, little to no pay, temporary furloughing themselves in terms of pay, working without pay. They're working 50% pay, 25% pay, so they don't have to lay off their employees.

And a lot of leaders in various sizes of business, whether it's a small business like yours, Michael, or even some of the large businesses out there that are household names, are doing this. The CEO taking $10,000 a year or something like that until they can get everybody back on and get the hiring, rehiring done or be able to retain the people they've got and not have to lay them off, all that kind of stuff. And we're really seeing business do not a perfect job.

Not every business is doing the right thing, but we're seeing a whole lot of businesses put the good of their team ahead of the good of the leadership team or the owners. Isn't that incredible? It's wonderful. I'm seeing it everywhere. It is. There's a lot of it. Places I would never expect it.

There's a lot of it. Good for you leaders out there. What an example that sets. It's great. That's being a leader. It's fun to be a leader when the money's rolling in, right? And it's not fun when the ship finds a hole in it but yeah a gift when there's serious stress good for you guys yeah they're not only having to make really really difficult decisions or a lot

of them doing it with no money and uh they're probably okay they're probably financially able to do that you know personally hopefully they've made enough and they've done a good job with their money but um it's it is a real – it's really encouraging that leadership as a service, as an act of serving, is really alive and well in American business. And you're right. That's a big deal. Randy's with us in Arizona. Hey, Randy, welcome to the Dave Ramsey Show. Thank you, sir.

I appreciate you taking my call. Sure. What's up? So my wife and I just read Total Money Makeover about three weeks ago. We're 27. We decided we really like it. But we've done a lot of your steps out of order. We've already got a 15% retirement and a six-month savings. And we're about out of debt.

We have the money to pay off the rest of my wife's car loan, but we can't do it until August, or we'll pay more in early penalty fees than interest um but after that we want to start uh step six and we don't really know how to navigate it there's you know speculation about a housing market crash um we're set to save about forty eight thousand dollars a year and i don't know how we should be using that money in the meantime should we be putting it toward the principle of our current home we are in a home that we that we do not want to stay in, so we don't know if we should put it...

How does having a mortgage avoid you having a problem if there's a housing crash? Oh, I'm sorry. I skipped a little ahead there. We don't want to stay in our current home, and we want to prepare to buy our next home. How does having a mortgage cause you to do that? I'm afraid I don't understand.

Okay. Keeping the mortgage as a way to be able to sell your home isn't logical. Mortgages don't cause homes to sell. Right. Up market, down market, anything. So even if you're going to move, you go ahead and you work on baby step six when you get there. You need to get the car paid off, get your 15% of your income going into retirement, saving for kids' college, baby step five, baby step six is pay extra on the house.

But if the market gets soft and the real estate market slows down not having a mortgage is better than having a mortgage if you're going to move not having a mortgage is better than having a mortgage there are no possible scenarios where you keeping the mortgage makes you in a better position okay um and as for the money that we are saving now that's outside of our retirement, that's outside of our emergency savings, should I be putting that into a mutual fund? Should I just be sticking it under the mattress? What's the best way to save that money now to prepare ourselves for the next home? You pay off your mortgage. Okay. Pay it on your mortgage. Because when you sell your house to move, they're going to give you a check for the

equity. Paying off the mortgage is not spending money. It's parking money at the mortgage interest rate. And it's a forced savings account. You can't get your money back out of there unless you go get a new mortgage. And so you're trapping the money, which is good, in that house and you don't need it until

you get ready to sell that house. But when you sell that house, they're going to give you all that money right back out. It's called equity at the closing. And so whether you paid the mortgage completely off or just paid it down dramatically. So I would be, once the car is paid off, I'd be putting, doing your emergency fund at three to six months of expenses,

15% of your income going into retirement, something on kids' college, and everything else would go on that mortgage until it's paid off, even if you're going to move. And when you get it paid off, now you're at maybe step seven. Then you would just pile up some money to add to the sale of the home to buy the next home. That's simple. Hey, man, thanks for the call. We appreciate you joining us. Dr. John Deloney joining us this hour and this day on The Dave Ramsey Show.

If you've got questions for him, 888-825-5225. Melanie's on Facebook. I'm feeling low. I need encouragement. Life's thrown so much at me lately. When I make one step forward, I tend to take two steps back. I feel like I'm failing. Control what you can control.

Find beauty. Make a plan every day. And when you take your two steps back, look at your plan for that day. Stand back up. That's when you get to be courageous and then walk forward. I felt like that a few days ago, and I had to pull the note card out of my back pocket that had my daily plan on it and say, What did I agree to with myself today? Those would be my accomplishments.

What am I going to accomplish at work? What am I going to accomplish at home? What am I going to accomplish in my character? And you stand back up up and you walk forward. Melanie, jump over on John's Instagram. He's doing a daily process to keep you daily encouraged, correct? It's a 30 days of wellness. 30 days.

One thing a day. One thing a day for 30 days. At John Deloney on Instagram. And I think that will help you with the encouragement too, along with the advice he just gave you. So thank you for following us on Facebook. This is The Dave Ramsey Show. Be more intentional with your time and money. Sign up for e-meals and let them do the thinking for you. They have a shopping list generator that makes it incredibly easy.

You can have your meals organized and planned for the week and have your groceries waiting for you when you get to the store. The average customer saves $2,000 a year and two hours a week. Get a free two-week trial at eMeals.com. Welcome back to the Dave Ramseysey show mike is in idaho hey mike your question for dr d and me hey guys how you guys doing hey mike hey so i i've got a question it's about kind of a career choice, but it's dependent on the coronavirus hysteria going on right now. So just a little bit of background. I graduate in December, so it's pretty early to be getting offers. And me and my wife have been really frugal with our money. We both work.

She's graduated right now, but I frame houses, you know, part time. We've got about forty five000 in savings, no debt. And so kind of career-wise, I've got an offer, a full-time offer in Southern California, making about $90,000 a year. And then on top of that, they do 15% into retirement. They've got life insurance. They pay for, you know, health insurance on top of that, they do 15% into retirement. They've got life insurance. They pay for health insurance on top of that. So it comes out to about $120,000 a year.

What's your degree in? Total. Construction. Construction management. What will you be doing there? Managing a project? Yeah. So I'd be doing, like they do a lot of government projects,

hospitals, tech centers, labs for the government, stuff like that. So I'd just be working on projects like that. I made 90 on my first job out of college. Man, well done. It sounds like a lot, but when I do the research, it's really like nothing. Yeah, that's minimum wage for Southern California.

What's that? That's about minimum wage for the cost of living in Southern California. So what's your question? So that offer, I need to respond by May 7th, and that's my dilemma because I have another company that has offered me an internship, which would turn into full-time when I graduate, but they can't give me a written offer right now because they're not government, so they're worried that they might get shut down because, you know, Washington State construction is shut down if you're not, you know, essential. So they won't offer full-time yet, but they, you know, they say do the internship,

and I'm sure it'll work out. And I just, I don't know which route to go. And another thing I forgot to mention, my wife is from San Diego. Her family lives there. She wants to get back there. I love the area. So, I mean, I'm fine with going there. I just, I like this company that's here in Idaho.

I like living in Idaho as well. I've got some friends that work there. They're a very good company. And I just, I don't want to turn this Southern California job down and hope that it works out. But I also don't know for sure if I want to go with the Southern California job. Does that make sense? Well, I think you and your wife need to decide where you want to live. Yeah. Once you decide that, that's probably going to answer your question

because i don't hear that these two jobs are they're fairly equal in my mind yeah uh the only difference is where you want to live and one of them's making you a promise and the other one isn't yeah but uh here's the other option c none of the above you get an offer in uh kansas city making 140 i don't know i just made that up but yeah you know the thing is you could go to san diego and six months later you could take a job somewhere else and move again i mean you guys are young just go have some fun make some money yeah and don't put so much pressure on yourself coming out that this is going to be the final decision. It's not permanent. You're not going to be at either one of these places in 10 years, statistically.

But you should still be married in 10 years. And so working together on this decision, taking her where she wants to live and the life you all want to build together into account, I think is way more important than which one of these things is going to be right. It doesn't sound like you want the job in California. Do you want that job? I really do want the job. The money seems low. I talked to a project manager who's worked there

for eight years, and he said, I'm still not in a house. It's almost impossible to get into a house because a shack on less than a quarter of an acre is $1.5 million. That's not true. No. The average house price in San Diego is about $460,000.

Cars all across America just screeched to a halt on the highway when you said that starting salary out of college at $90,000 sounds low. That's a lot of money. I know. That's a lot of money. Yeah, it is lot of money uh yeah it is my heart just stopped and i've been working for a long time i think uh um you know you need to decide who you want to work for where you want to live and then let that dictate it may dictate you take neither one of these is my other point because nothing is forever. And even if you took the one in California, you go down there, you rent you an apartment,

you're there a year and it doesn't work, you can come back to Idaho, you can go another direction. The good news is that the skill that you've learned is very marketable. As long as building is occurring, you're going to have job opportunities. And obviously, it pays pretty well with the level of training that you've gotten. So you're going to be fine. And I hope you're not one of those guys that can't let college go. And I know your buddies still live there. I know you all are about to graduate, and you all have had a fun time there in college.

But there's a time when you've got to separate, too. And if something across the country that's going to connect you to family and connect you to a neat new industry is calling for you, man, cut the ties. Cut the ties with your college buddies. Go make a world with your wife. By the way, the average house price in America is a little over $200,000, about $220,000. The average house price today, average home price in San diego is about 480 so it's about double the average across america but it's not 1.2 million okay uh that may be a shack but it's probably on the beach if it's a shack obviously house prices in southern california are expensive that's not in question

but um you know do your own actual research don't talk to some guy who's bitter about living there and um you actually figure out what you're going to do and again you don't have to stay there you could go there and say we're going to try this for a year or two and then we decide we don't like the cost of living or we don't like the uh tax structure or we don't like whatever and we get a better offer somewhere else and you move into middle America somewhere. That'd be fine. There's nothing wrong with that.

And then it becomes a neat story about the time you and your young wife moved to Southern California, lived for a few years, and you got some great skills and got to learn some things to do and things to not do and you take those skills somewhere else with you. I think it does take the anxiety off when you don't make the decision so permanent. If you just say, yes, you're not lucky. I mean, it's like I don't want to be trading houses every six months or something, but buying a home is not even a permanent decision. And I think that's one of the trajectory challenges that we put on third graders.

Start deciding, well, what do you want to be when you grow up? And what major are you going to have? And what's your first job going to be? And there's just so much pressure to this moment. And suddenly you find yourself at 22 thinking you've made a decision or you've got to make a decision that's going to last the rest of your life. And it's just not true. Exactly, because it seldom works out that way.

All right. Jacqueline is with us in Tennessee. Hi, Jacqueline. Welcome to the Dave Ramsey Show. Hi. Thank you so much for taking my call. Sure. What's up? My question is, we kind of had to move quickly to Tennessee last March, and because of that, we weren't able to sell our house

in Kentucky. And thankfully, God provided renters for us, so we have renters. But our renters were supposed to buy our house this June. And because of the coronavirus, she has lost her job and he has his hours cut in half. So they are barely making the payments now. And so they're not going to be able to buy the house in June. So my question is, we were kind of waiting on that house to sell this summer so that we could pay off. We only have one car loan and that's

unfortunate because we did have we were debt free because of the dave ramsey um model but we do have a car payment of two hundred dollars a month but the total loan is around nine thousand and so we were banking on the house to sell in june so we could pay off our car and get our three to six month um emergency completed so that we can move on towards our child's college. Good. Because we are. Okay.

So what's happened is this. I don't know why in June you have to make it that they have to make a decision that they they're not going to be reemployed. They're not going to be making any money at all by June. Yes, they are. So maybe they don't close in June. Maybe they close in July. But they're never

going to buy the house again? I mean, they already know in April, the first week of April, that they're not going to be able to close in June. Horse crap. That's bull. You don't know that. They don't know that. They're projecting negative things into the future that they don't know that's going to happen. Let's pretend they're back to work in May.

Oh, well, then we close in June or maybe July. Meantime, you need to go ahead and get yourself out of debt without leaning on this house to do it. This is The Dave Ramsey Show. Dental insurance is great if somebody else is paying for it. But if you're footing the bill, OneDental.com is a much better way for my listeners. OneDental.com is a discount membership that gets you unlimited lower rates at the dentist, not just for cleanings, but even dentures, implants, root canals, braces,

and more. Whether you're getting a plan for yourself, your family, or your business, OneDental.com is the way to go. Visit OneDsey.com slash hope. Visit the page. All kinds of goodies there.

Lots of free things, including the 14-day free trial to financial peace university i do not think that that trial is going to last much longer we're tracking it watching what's going on uh we tried to put that out there to help you guys uh and we did put it out there to help you guys it's been out there about 15 or 16 days right now and uh um so it's probably about run its course i'll just go ahead and give you a heads up if you know someone that wants to take this 14-day free trial to financial peace university online while you're uh uh working from home then this has been your shot and it will be your shot go do it dave ramsey.com slash hope the total money makeover book is audio book is still there at $1.99.

That will not be there. We're going to keep that through the weekend. And then Monday that will change. Same with Ken Coleman's Proximity Principle at $1.99. The Foundations in Personal Finance Home Study Edition for high school kids. Taking them through our curriculum. Used to be $129. We've had it on there for 19

uh that's going to be through the weekend and then it's the prices are going to begin to increase on that because what we wanted to do is catch you guys while you were in your crisis and just give you or virtually give you a whole bunch of stuff and so we're adjusting our prices back towards normal uh from here uh and so uh you're going to get through this. Stop, take a deep breath. There's all kinds of things there that are completely free to help you. Be sure and check out everything at DaveRamsey.com slash hope. And we pivoted, changed the direction of temporarily stopped,

temporarily started entire sections of our business in the last three weeks just to make sure that you guys sitting at home had things to do that would help you reset your minds and be able to win from this point forward. Next is going to be DJ in California. Hi, DJ. How are you? Hi, David. Thank you for having me on the show.

I listen every day. Thank you for having me on the show. I listen every day. Thank you. How can we help? So I'm single, 28 years old, finished college with a degree in business admin. No debt. I got $20K in a money market savings from my emergency fund. Make about $40K a year on my own small business as a video editor in LA, and I love what I do, but financial peace is becoming a priority as I get older.

Coronavirus has slowed the business to two healthcare clients, and my question is, what do I need to do to get on track to become an everyday millionaire? Is it new career time, or do I hold tight and keep doing what I love? Well, it sounds like you need more customers if you're going to keep doing what you love. Yeah, so maybe it's just a marketing issue. It's just, it's worrisome as you get older.

You know, I'm approaching 30, and I only have 20K in my account, and I'm hearing all these people on your show, you know, some are getting jobs that are making 90K a year, 100K a year. It's great to have your own small business, and you can go to PJs, you wear PJs to your job every day. But, you know, it also comes time where maybe I need to get a job at a corporation or something. It could be.

It could be you move in as a staff editor. I mean, what city do you live in in California? Downtown Los Angeles. Very expensive place to live, too, and you're only making 40 grand. Yes and actually I've been able to reach that because one of my clients is actually letting me stay at their studio as like nighttime security so I don't have rent obviously don't have a house so I pocket everything I make and that's an exchange for cheaper edits for that client but then again we come back to I'm only making $40,000 a year,

and this is about seven years into my business. Yeah, yeah. What I would do is to say Henry Cloud has a book out called Necessary Endings, and he says when you lose hope that there's no logical reason to believe anymore that something's going to get better, a relationship, a job, a business. There's no logical reason that you can extend out in the future and you lose hope that it's going to get better. It's time for a necessary ending.

And so you could be approaching that here. But what I would do is I would want to paint myself into a corner and prove that if i were you meaning you say all right i'm going to give myself six months and i need to be from 40 to 60 and uh six months after that i need to be from 60 to 80 or whatever the number is and if i'm not i'm going to shut this thing down and go get a job okay or something Give yourself some deadlines to meet so you don't stay in status quo. And it pushes yourself along. I was going to say, DJ, go out swinging. If you watch a championship UFC fight in round five,

when the corner knows that there's one round left and their guy's down on the cards, they'll always tell them, don't leave anything to the judges. We already know you're going to lose the fight if it ends right now, so go down swinging. So if you have reservations about going to get new clients, if you're nervous about making cold calls, throw all that to the wind. Hustle, hustle. Give yourself an opportunity to really knock this out of the park for the next six months, and then you can know.

You can put a period at the end of this sentence. My brother does digital editing for a company. I see some. There are artists that work here at Ramsey Solutions that do digital stuff with the video editing. They're artists. They're incredible. So there is places where you can make a good living. But give it to yourself and to the seven years you've put into this to go down swinging.

Yeah, just leave it all on the field. That's a good point. And try everything. Pull out all the stops. go down swinging yeah just you know leave it all on the field that's that's a good point and um try everything pull out all the stops and sometimes if you give yourself that deadline and you say something reasonable what's a reasonable growth rate on this business that would make me believe because of the trajectory that staying in it is good and uh i just made those numbers up i don't know if they're good or not but if you said okay six months from now i got to be at 60.

I'm at 40 now. What have I got to do? What has to be true that's not true now to make that happen? I've got to call on more people. I've got to turn over more rocks so something runs out. I've got to stretch it out. I've got to leave it all on the field, go down swinging like John's saying. But that's calling on a whole bunch of people.

So whatever your number of prospecting calls were, they probably need to go up 10 to 100X because you may have been doing one. And so you may need to talk into 100 instead of one. And you just need to, like you said, it's a marketing problem. You brought that up, DJ. And so that may be exactly where you are. Will is in North Carolina. Hi, Will. Welcome to the Dave Ramsey Show.

Hi, guys. First of all, thank you so much for taking the time to speak to me. I really appreciate it. Sure. How can we help? Well, I'm 27 years old. I'm getting ready to purchase my first home, and I'm hearing all this stuff about the market getting ready to crash and a bubble. I personally feel like I'm financially ready, but I would kind of like to hear what you guys have to say about it. The market is – okay, are you out of debt?

Yes, sir, I'm debt-free. Okay, and you have your emergency fund plus a down payment. Yes, sir, I have about $120 in cash reserves, and I have some others in 401K and things of that nature. Dude, high five across the country to you, man. Well done. 27 years old. Good grief.

That's kicking butt, man. Well done. So you're nervous about buying a home because you think the real estate market's going to crash? Well, I'm worried about that, and it's my first home, so I'm just very unsure of the whole process, really. I've started looking at one. I actually offered on one. It's a duplex. The mortgage on that, well, I guess the purchase price of the home is about $230,000-some-odd.

How stable is your income? I would say it's fairly stable. I've been at the same company for the past six years or so. Well, my estimation, and it's worth what you pay for it, is that the housing market, the faster America comes back to work, the less impact is going to be on the housing market. In other words, if everybody came back to work next week, I think there would be almost no impact on the housing market except that it had this little hiccup, and so there's a shortage of buyers for a little while while they come out of their caves into the nuclear winter, right?

But that's all it is. It's just emotional. But now if we stay out of work 60 days from now, the real estate market and every other market is going to start to tank, and we're going to have serious, serious problems. So I don't see that today. I can't visualize the governors and the president wanting to completely plunge us into the Great Depression. I just don't think they're going to do it.

And I don't think people are going to stand for it if they try to either. So I think you're fine. I would just go ahead and buy. And a guy who's 27 who's got that kind of... You're just a conservative guy. What a stud. Yeah, you've done a great job. I would go ahead and buy.

I wouldn't, you know... I'd try to get a good buy because you're one of the few buyers out there running around right now. But I'd go ahead and buy. That puts us out of the Dave Ramsey Show in the books. In the middle of these uncertain times, Ramsey Solutions wants to give you some hope for the very first time ever. We're giving you Financial Peace University free for 14 days. Go to DaveRamsey.com slash hope so you can watch from home. In times of uncertainty, there is one thing you can control.

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