The Ramsey Show - App - I'm Struggling to Land a Career (Hour 1)

Episode Date: September 17, 2020

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Live from the headquarters of Ramsey Solutions, broadcasting from the Dollar Car Rental Studio, this is the Dave Ramsey Show, where America hangs out to have a conversation about your life and your money. I'm Chris Hogan, and hosting along with me this hour is Ken Coleman. And we are very, very excited to take your questions and calls. If you want to talk about money, you can give me a shout. We'll talk. If you've got a question about career or how to get started in pursuing the work that you love or career that you desire, Ken can help you with that as well.

And the number to call is 888-825-5225. Again, that's 888-825-5225. Coleman, are you properly caffeinated uh i am and just finished two hours of the ken coleman show so i'm warmed up i feel like the vocal cords are are good they're not your vocal cords you know well i always feel pretty decent about my voice until i host beside you and then i feel like you know like the 13 year old kid whose voice is just trying to get there well you know what i'm glad that you feel that way about your voice because when i'm with you i fear i feel

hairless even more than normal yeah if i had yours i could buy gel and i do and hairspray and all the things see my hair on your head i do think that'd be that is maybe halloween is god-awful yeah that's a god- scenario. It'd be a great Halloween costume. Okay. All right. Listen. The people in the lobby would like to see it. They are frightened.

They're all laughing. They're frightened from the thought of that. Yeah. So here's what we're going to do. We're going to save everybody. Okay. We want you to give us a call. We're going to shoot you straight.

We're going to give you information you need to get jump started right where you are. And maybe you're on this path and you've been pushing and running, but you want to go faster. Everyone wants 2020 to go away, Ken. And here's the deal. It has been a dumpster situation. However, we have three and a half months left to go, people. We can't close our eyes. We can't shut it down.

We've got to finish strong. And how we finish 2020 is going to be a severe indicator of how we begin 2021. So we have to stay intentional. You know, so here's the challenge from Chris and I today. So Chris is going to talk to you about the money side of things, getting your house in order. I'm going to talk to you about the work side of things. And this money work thing goes together.

Yes, it does. So I'm over in the shovel category. You need a bigger shovel? Let's get you on purpose. What do you mean bigger shovel? Explain that. Making more money. That's right.

The income helps us get out of debt faster. Oh, by the way, if you love showing up on Monday morning and time flies and Friday shows up a lot quicker than you thought it would, that means you're in your sweet spot at the intersection of what you do best. That's your talent. What work you love to do. That's your passion. And then the results of your work that make your heart full, that's mission. That's what I'm here to help with today. So're working together you're not happy in your career uh-oh

we can help you with that because here's what you make changes you're gonna start making more money and that means you get out of debt faster you know what you and i are like the old school tag team we are we are all right let's lead it off all right we got allison on the line allison what can ken and i do for you today? Hi guys, thanks all for taking my call. Yes, ma'am. So I am looking long-term to make a career change, but I am kind of struggling to figure out how to get the experience that I need to do it. Okay. So I am currently working as a physical therapist assistant, which is bringing in about $55,000 a year. And I'd like to move up into management.

So I started a program for healthcare administration, a master's program. Y'all would be so proud. I'm paying for it out of pocket. There we go. Way to go, Allison. That's awesome. That's serious brownie we go. Way to go, Allison. That's awesome. That's serious brownie points right there. Good job, Allison. Yeah. So I have existing student loans of about $20,000. I'm still paying on them in addition to I'm paying the minimums on them in addition to paying the master's program out of pocket.

Okay, good. Trying to be as strict as I can. But my problem is that in my role as an assistant, I don't really have any management-style tasks or, like, I don't have the ability to learn hands-on how to manage the administrative side. Hold on. Yes, you do. Hold on, Allison.

I've got the answer for you. So you're saying, Ken, how do I get the experience to be in management and physical therapy when I'm just a physical therapy assistant? I don't have any opportunity. And so can I tell you that you're slightly wrong with what you said? Okay. So do you have a manager? Yeah. So we have a supervising physical therapist, and then we have a manager? Yeah.

So we have a supervising physical therapist, and then we have like a clinic director. Right. So my point is, just because you aren't doing some of their tasks doesn't mean that you don't have access to what they do. How do they lead you? What do they do well? What do they not do so well? What would you do differently? You get to go to school by being a really good follower.

Chris, you know this. You cannot be a leader until you prove yourself as a really, really good follower. So, Allison, this is going to seem overly simplistic, but the key to you moving up the ladder and actually getting the opportunity to lead others, because that's what a management position is. It's leadership. Number one, you need to be a really good follower. And I'm going to give you a couple things you need to do, specific things in a second.

But I also want you to understand that while you're being a good follower, you can observe your own leadership and say, what do they do well? What do they not do well? And that's how you begin to go, oh, when I get in this position, here's how I want to serve. Because leadership is about serving. Do you understand that, Allison? Yes.

Okay, so here we go. I'm going to give you four qualities. Actually, we're going to make it five. Five qualities. I just added a fifth last week hogan writing and writing a little something five qualities that'll get you promoted allison you're ready all right go number one likable number two coachable number three reliable number four adaptable and number five honorable you can develop all of those character qualities.

I would suggest, Chris, she already has a lot of those. I agree. But it's like grade yourself on that, Allison, and go, okay, where am I at there? And if I'm in a healthy organization and I am developing those qualities, I'm going to get an opportunity to move up. Now, there's three actions she's got to take. Allison, here you go. You've got to know your role, and right now, you're very clear on what your role is. You've got to accept

your role. That's an attitude of, hey, I've got to crush it in this physical therapy assistant role, and then I've got to maximize my role. I've got to look for opportunities to go above and beyond that actual role, and when she does that, Chris, they're going to notice, and they're going to give her an opportunity. So, that's how you get to the management that, Chris, they're going to notice and they're going to give her an opportunity. So that's how you get to the management position. Yeah. Allison, listen to me. I like you. I like your thought process. I like your desire. So here's what you're going to do in what you lack. Maybe an experience you're going to gain in knowledge. Tell you what I'm going to do. Kelly's going to get your information. I'm going to send you some books to start reading.

Patrick Lentioni, the ideal team player, good to great entree leadership. I'm going to send you some books to start reading. Patrick Lencioni, the ideal team player, good to great, Entree Leadership, I'm going to send you five or six books. And I want you to start to dig into that because you also have this thing, this mentality that because you're young, you can't lead. Leadership is a title. Titles mean nothing. It's about your impact. So how are you working with your peers right now? How are you treating the admin staff? Or even there's a time where you actually even lead your leader. It's all about you and growing your skill set. So I'm going to send you those books. I want you to take Ken's information to heart, but I want you to start to think differently.

You are gaining knowledge each and every day, but you're also gaining experience. So keep growing, young lady, because you ain't stuck. You just got started. This is The Dave Ramsey Show. Families all over the country are discovering a faith-based and budget-friendly way of meeting health care costs, whether they're anticipated or completely unexpected. For example, take the Olcheski family from LaGrange, Texas. Jeff and Carice had just celebrated the birth of a new baby boy. Shortly after, they had another expensive medical issue come up.

They could have faced a huge financial setback, but thanks to Christian Health Care Ministries, the Olcheskis were spared from a ton of medical bills. As members of CHM, they're part of a group of believers who financially and spiritually support each other. CHM is the longest serving health cost sharing ministry and is a Better Business Bureau accredited charity. It's Christians helping other Christians

and it shared nearly $97,000 to help the Olcheskis. To be a part of Christian Healthcare Ministries, visit chministries.org. That's chministries.org. CHM is a proud sponsor of Dave Ramsey Live Events. Welcome back. You are listening to The Dave Ramsey Show. We just stepped out into the lobby and had a chance to meet some real people.

Took some photos. Great looking folks that have traveled in. And I want to encourage you that if you are in the Nashville area, I want you to swing by. Ken and I bake things every morning. That is not true. Miss Melissa does the baking. I would like to bake something. We are not bake things every morning. That is not true. Miss Melissa does the baking. I would like to bake something. We are not letting you bake anything.

We're going to have you bake up careers for people, okay? That's about it. Hey, what if I brought the Kamado Joe? Both of you and I, we love those things. What if we made some pizzas for people? Oh, listen. Hogan and Coleman's homemade pizzas. We're going to do a grilling segment. I want you all to stay tuned. At one point, Coleman and I

are going to do an Instagram grilling segment. We're going to show you how to do a grilling segment. I want you all to stay tuned. At one point, Coleman and I are going to do an Instagram grilling segment. We're going to show you how to do it. James Childs is getting very nervous right now. He's like, what is happening? I don't think I can contact James. My homemade pizza would set you free. I'm just going to say that. Okay. Here we go. Let's get back to the task at hand, people.

We're taking your money questions. We're taking career questions. We want to hear from you. Now, here's the deal. We need Kelly's hair on fire. That means I want you to light up that call board. I want you to dial that number, 888-825-5225, 888-825-5225. Also, be sure to find us on social. Coleman is even doing the social media thing. He's got at Ken Coleman on Instagram and Twitter.

You can find the Ken Coleman Show on YouTube. You can find me at ChrisHogan360 or the Chris Hogan Show on YouTube as well. All right. We had a great call. We had a career question before. And let's dive in now and see what Brandon's got on his mind. Brandon, how can we help you? Guys, let me say, if you all start the pizza business, I'm on my way.

I'll make the four-hour trip to get some. I knew that the people wanted this. Customer number one. There it is. And he's a Kentuckian, and so that's always a good thing. Yeah. Brandon, you are living about five minutes from my hometown, so I know you've got a good question for me. Buddy, what's on your mind? I do.

Hey, I am looking at doing a refile on my mortgage. Okay. So I've got with our broker that we usually go through, and she sent me all the numbers. And then I was talking to somebody else, a friend of mine in the banking business, and he said, hey, reach out to your mortgage company that you're with and ask about a restructure just straight through them bypassing the broker. So when they send me the numbers, to me it looks like it's about six or half dozen,

either way. And so I kind of wanted to run it by you and see which way you would suggest I go. Because in the end, hopefully, as long as everything stays the same, I should have my house paid off in four years. That's a big if. All right. How much do you have left on the home? 112. Okay. And so tell me this, what's your household income? That's a big if. All right. How much do you have left on the home? $112,000. Okay. And so tell me this. What's your household income? $115,000.

Okay, $115,000. And so what is the rate on the refinance that they're offering you? The refi goes down from three. I'm at $3.75 now. They're going to take it down to $2.25 with about $5,000 in closing costs. It would go to about $117. Okay, and what about the... For a 15-year.

Okay, 15, good. And the restructure, what's that rate? The restructure is leaving it at the years that I've got left now. We've been there five years, so there's 25 years left on the loan. Leaving that alone and only taking it down to a 3.25, but no closing costs, no fees. The payment will go down with them about $100. The payment goes up with the refi about $100. Yeah, okay.

Brandon, listen to me. You are from the Bluegrass State. You and I, we know about a lot of things. Oh, what is this? Wait, hold on. This is a Kentucky thing. You wouldn't understand. You just paused a little Virginia

yourself. He's from Virginia. He doesn't know, Brandon. Alright, so buddy, what's the route? What are you going to do? Well, I would venture to say the refi. Yes. A friend of mine says restructure. My wife says sell it all and buy a bigger, newer house.

No, no. Okay, first of all, you just made my one hair stand up, Brandon. Don't do that. Let me put it back down. Let me put it back down. Listen, the refi's the way to go, and here's what's happening. With the restructure, what your bank is doing, you qualify for a break-in rate.

What they're going to do is they're going to try to keep you the same, thereby eating that yield, and they want you to stay at a 25, obviously, because they're going to get more money out of you. But you're going to do is they're going to try to keep you the same, thereby eating that yield. And they want you to stay at a 25, obviously, because they're going to get more money out of you. But you're going to go from a 3.75 down to 2.25. Buddy, that is an incredible reduction. I like you getting to a 15. Go the route of the refi.

Okay. Go the route of the refi. Don't overthink this. Get that paperwork started so you can lock in that rate and you're not dealing with any kind of fluctuation they typically tend to give you a 30-day lock uh without any additional fees or anything that the refi is the way to go uh don't start thinking about bigger house and all this other stuff about his friend yeah no it's not a friend i think you know you know that look you give people when they do, there it is. Look at the camera.

Look at that camera right there and give them the Hogan look. This guy needs to do a screen cap of this and show it to his friend. That friend, come on, man. It's not a friend. I want to find him. No, I don't. No, I don't. Listen, well, here's the thing.

We got to be careful because stupid's out there. And people can sometimes mean well, but they're gone it. We've got to be careful because stupid's out there. And people can sometimes mean well, but they're gone it. We've got to know what we want for our future, and we get to make the decisions, Ken Coleman. We're having fun, okay, with Brandon. But the reality is, is, folks, friends and family can lead us down the wrong path unintentionally. I don't think that his friend is trying to give him bad advice. No, no. But be aware, and then be advice. No, no. But be aware and then

beware. Ooh, that's good. Be aware that people can give you bad advice and they mean well and then beware of that advice. Don't let their influence over you because of the relationship pressure you into doing something that's not smart. I just want to put that out there. Here's the deal. I'm about to poll

our live studio audience. Watch this. Raise your hand if you all have crazy in your family okay there it is all the hands went up see i get worried if your hand doesn't go up oh hold on you might be the crazy in the family i'm just saying i don't know i was watching everybody i didn't raise my hand i now i'm feeling very very very insecure about the whole thing that's the reason for that but here's the thing you're right uh people can have opinions we get to make statements yeah that's the thing. You're right. People can have opinions. We get to make statements. Yeah. That's the big deal.

And I love that Brandon called in to get some information before he jumped to a conclusion. That's a good thing. All right. Let's get to Sydney. Sydney's calling in Austin, Texas. How can we help you? Hi, guys. Thanks for taking my call.

You're welcome. How can we help you today? So I did Financial Peace University at the beginning of the pandemic, and we drank the Kool-Aid. We did the Baby Step in a month for number one, and we're on Baby Step two now. Good. And I have talked to my church leaders about it and just said,

hey, this is great. And he said, like, hey, I have a family who's near us. And would you mind helping them with a budget and trying to coach them a little bit? Since, you know, this has been so successful for you. So my question is, do I point them towards Financial Peace University and say, hey, take this. If you have any questions, call me. Do I? I also have looked into the coaching that you guys offer and i'm kind of wondering where to start and how to go about it okay this is a great question you're asking okay number one you're in the midst of a situation so you're learning

uh how much debt do you have sydney how much do you all have left um we have about forty thousand dollars not including our house okay and so you look at that and you go, hey, we're working the plan. I'm helping people in my church. What else do I do for them? I love the idea of you pointing them to Financial Peace University, but I also like the idea of you pursuing coaching. If you're excited and you love the idea of helping other people, you can become a coach. I actually do the training online. It's

called Financial Coach Master Training. You can go to DaveRamsey.com and learn more about that under the Financial Coaching tab, where you can study and learn from home, online, self-paced, on how you can become a coach. Now, what that can do is not only put you in a position to be able to help other people in your church, but also you could look at it as a business where it's something you're doing outside of your primary job. So I think it's something if you get, if you enjoy helping others, I think this is a great opportunity for you. Uh, Cindy, I want to add one, I want to add one challenge that I, that I want you to do. So, um, I want you to get financial peace university for them. I want you to invest that or tell them to buy it, whatever, whatever you feel comfortable with them. I want you to invest that or tell them to buy it, whatever,

whatever you feel comfortable with. And I want you to offer to coach them. But what I want you to do is, is I want you to have them go through the nine-week series on their own. And then you set up meetings with them each week as they go through a lesson and have them tell you more

about some of the specifics in their plan. I want you to test coach. I want you to do it for free. I want you to see, do you really like the coaching? This is a great opportunity for you to see if your head and heart, because your head's going, I think I'd like to do this because Dave really helped me. That's right. I want your heart to know, I really love coaching.

Yeah. And the plan is there. It's like you going out and coaching soccer. You can learn some basic things and still coach. Yeah, kick the ball. Yeah. Well, it's a little and coaching soccer. You can learn some basic things and still coach. Yeah, kick the ball. Yeah, well, it's a little more than that. And Dave's done it for her. Hey, I want her to try it and see if it's something she wants to do.

Kick the ball in the net. That's what you do. I can coach soccer. U.S. men's team, call me. I can coach you. This is the Dave Ramsey Show. Hey, guys. At the Dave Ramsey Show, we really value your input. It helps us to know what's important to you so we can deliver relevant content to help you crush your money goals.

We just launched a brand new survey survey and we'd love your feedback. It only takes a few minutes and you'll be entered to win a $100 Amazon gift card. No purchase necessary. Take the survey at DaveRamsey.com slash survey or text survey to 33789. All right. You are listening to The Dave Ramsey Show. I'm Chris Hogan, Ramsey personality, and joined this hour by Ken Coleman, also Ramsey personality. And we are excited to be sitting in on the show, taking your calls about money, about career, and about life. And if you're out there and you would love to call in and get an answer, just dial the number. 888-825-5225. Again, that's 888-825-5225. All right, Ken,

we got a special guest. We've got someone standing up there on the debt-free stage. Hi, Thea. How are you? Hi, Chris. How are you? Good. I'm excited to be here. Good.

Well, where are you from? I'm from San Antonio, Texas. San Antonio, Texas. And you're not standing on that stage just because. No. What did you do? I do look kind of cute up here, so I don't know. Well, I like it.

What did you do? I paid off a little over $37,000 of debt in 19 months. Wow. 19 months? in 19 months. Wow. 19 months. Yes, sir. Wow. What was your range of income during that time? I started at 65 and I ended at 95.

That's a good jump. It is. What happened? Oh, man. Well, I changed jobs and that definitely helped a lot with the boost in income. But, you know, I started reading the Total Money Makeover probably two years ago and just did Dave-ish for a few months. I will say the best Christmas present I ever received is that I asked my parents for Financial Peace University and they gave that to me in Christmas 2018.

You asked for it. I asked for it because I knew I was just so tired of having these monthly payments. And I woke up one day and I thought, why do I have to accept having student loan debt for the rest of my life? Why do I have to accept paying credit cards every single month? And I just got tired of it. Wow. How old were you at this time? I think I was 29. Okay. So you're how old now? I'm 31. You're 31 years old, woke up, got tired. You mentioned a little bit, but tell us what kind of debt did you pay off? So about two-thirds of that was student loans, and the rest was credit card debt. So that was everything from a care credit account where I paid my braces off.

And then, like I said, the majority of it was student loan debt. Wow. And so what is your career field now? So I'm the Director of Marketing and Communications for an urban parks district in San Antonio. So I'm in the communications and community engagement. Let me ask, what were you doing before? You went from 65 to 95. What was the previous job? So I had a job I absolutely loved working for a local government, the local government. And I was working pretty much seven days a week and just was not getting compensated

fairly for the amount of energy and time and quality of work. So it was a leap, definitely. But this position opened up and it really was a godsend. So I'm super grateful. I have an incredible team, a very small, hardworking team back at home. And I love what I do. And it really does free up my time now that I can do things like volunteer. So in the past, when I was doing crisis communications, I didn't have a lot of time, free time to do anything else. But during the pandemic, which I do recognize it is a huge privilege to still be employed at this time, I've been able to give my time and resources, my financial resources to causes that I care about. That's amazing. So who were your biggest cheerleaders throughout this this this travel i feel like i have so many i'm just super blessed to have an incredible family

my little sister katie uh was a huge cheerleader my parents are really great and now both my parents and my sister and brother-in-law are all debt-free except for their mortgage since i started on my journey which is super exciting so you started a family trip i kind of did it was the first domino i I really was. I think so. And I convinced my sister to come to the Smart Money Conference with me in January 2019 in Dallas. And it was there that I said, you know what?

This is it. I'm going to put my money where my mouth is and I'm just going to get rid of this debt. And when you talk about that why, I just had this, this vision of like standing on a mountaintop because I love hiking. I love the outdoors and nature. And I was just envisioning myself with that total freedom. And that's really what this program provides. That is absolutely amazing.

Hey, talking to other young people out there that may not have woken up like you did, what would you tell them? What would you tell them to encourage them to start their debt-free journey? You know, I would just say it's one day at a time, truly. You know, you start small. You start with that $1,000 emergency fund. Actually, you start with the budget, which I had never had a budget process in my life until then. Taking Financial Peace University really, really helped, I believe, truly, in the miracles of group recovery.

And that comes with finances as well. That's right. I have incredible FPU coordinators, Maddie and John Scully in San Antonio, are just so wonderful and kind people. I was texting with Maddie on the way over here because I was a little nervous. So just stay accountable, that group accountability, taking that course, and just keep at it. Because before you know it, I mean, I was I was chunking at one point like fifteen hundred dollars every paycheck at my debt. And when things happened with the pandemic, you know, I kind of slowed down a little bit and started putting that into savings. But then I was like, I'm not going to wait for the government to try and take care of my student loans.

Right. And I just got so I was just ready to do it. I'm proud of you. Thank you so much. I really am. I've got to ask you, you love hiking. I do. Yes. I want you to teach a little bit.

Okay. And you just gave us a great word. Okay. I want you to keep going because I want to know, what's the parallel between the baby steps and this debt-free journey to get debt-free and hiking? Because I know you know what to do with that. It's definitely going to the top. You just keep going. You know, it's not going to. It's definitely going to the top. You just keep going.

You know, it's not going to, you're not going to go anywhere if you just stand still. So if you just keep going and you'll get to the top eventually and then you'll just feel this sense of relief and accomplishment, you'll probably be a little sweaty, but that's okay. That's fantastic. Will you ever go back? No, I don't. And I will say, you know, when you talk about like getting rid of your credit score, it starts to disappear, which I'm seeing that happen right now.

You know, it's a little scary, but the thing is that people have been doing Dave's program for so many years that I'm not the first person to do this. So I'm excited. You know, it's interesting. I want to address something really quick because it's interesting that you say that. The credit score thing. So, Chris, you and I have been debt-free a long time. I have incredible credit score. I don't have any debt.

Right. But your credit score is going to be fine. Do you understand? Yeah. It'll eventually shrivel down. It'll go down. It takes some time. It takes time.

It takes time. Yeah, yeah, yeah. But I'm impressed. So, Thea, get ready, because I know you've rehearsed this probably a hundred times. Only once, actually, if you would believe it. You've only practiced one time. Only one time. Okay, maybe out loud, but in your heart.

In my heart, I have definitely envisioned it. Do you have any people here with you? No, unfortunately, my sister's a teacher. We were originally going to road trip together, but she just couldn't get the time off. Well, I want you to take a look around out there in that lobby. You've got people here with you that are pumped. So, Thea, let's get ready to hear a debt-free scream. Paid off $37,000 in 19 months. Range of income $65,000 to $95,000. Student loans, credit cards, and even some

braces. The teeth are free and so is she. All right, Thea, let's hear it. Countdown. Let's hear a debt-free scream. In three, two, one. I'm debt-free! Congratulations. Wow. We're all done. I'm debt free! Congratulations! Wow! We're all done! I love that. And, you know, here's the thing.

She woke up at 28 years old, 29, and asked her parents for a financial piece. Right? This is one of those things as a gift to say, hey, I'm tired. I'm tired of making these payments. I'm tired of having this stress. There's got to be another way. And I know a lot of you out there are feeling that. Some of you are in the midst of your journey.

You're in that walk. But every time I hear that debt-free scream, it's just a reminder, the visceral reminder of the actual freedom that can happen. Well, you know, she's a hiker, and that hiking analogy is so true. There's an unbelievable focus that is required to finish a tough hike, you know, whether it's Mount Everest where it's life-threatening and weather can come in and change things and life can throw things at you while you're on the journey. But the way you stay on the path is that unbelievable focus on that pinnacle, on that goal. And there's a young lady who she never lost focus, and now we're looking at her, and she can't contain the smile. She's effervescent. Why? Not because of the accomplishment.

The accomplishment feels really good, but ultimately the result of getting there and how it's changed not just her life but her future. So it changes the present. It changes the future. And what's really cool, and I got goosebumps, is that she, through her example and through her climb, inspired her family to do it. And we forget sometimes that when we take on a tough challenge, Chris, and we meet that challenge head on, and others watch us meet that challenge, and they see us progress, that they get excited and they go,

if she can do it, I can do it. And that's why this thing is so cool. No, I agree with you. It motivates other people to watch you. And so that's something to remember that even in the midst of the struggle, even in the midst of your push, somebody somewhere's watching, right? And you've got an opportunity to let them know how to handle it. Doesn't mean it's going to be easy. No, it's going to take some time. You're going to make some sacrifices, but here's what I will tell you. It will be worthwhile.

This is the Dave Ramsey Show. Boy, oh boy, I tell you, I get pumped up. We just finished with the Debt Free Scream. And people, if you have not been here to witness a Debt Free Scream live, you need to definitely come and check it out. It's amazing to see people declaring that visceral moment of being debt free where you give yourself a raise without having to go talk or ask anyone for anything. You decide to give yourself a raise, and that's what happens when you get debt-free.

All right, we're getting back to the phones. If you're out there and you've got a question, call us. Ken is ready for your career questions. I'm ready for your money questions. Give us a call, 888-825-5225. Again, that's 888-825-5225. We'd love to hear from you. All right, we're going over to Rod. Rod is in Rock Hill, South Carolina. Rod, how can we help you today? Hey, Chris. Hey, Ken. Thank you for taking my call today. Sure, buddy. What's on your

mind? I have a question for you, and it's kind of a multi-part question, but I want to know if I should put paying off my student loans to save an emergency fund for a baby. How much do you owe in student loans, Ron? $15,000. Okay. And what's your household income, buddy? I got a new job last month, and right now it's sitting at around $135,000 a year. Okay. And the $15,000 in student loan, is that all you owe, or do you owe on other things? That's all I owe. Okay. Well, I'm going to tell you right now,

I'm never going to tell you, and we wouldn't here, Dave, me, or any of us in the Money Spoke, would never tell you to not add to your family because of debt. Getting married, adding to your family, those are decisions between you and your wife. But I think it is definitely smart for you to pile up some money to be prepared for that. And then, of course, unleash all the and and power on attacking the debt once the baby gets here yeah how much have you guys uh have you allocated in your minds or at least on paper that you need to save up for the baby um she's actually pregnant now and um because this was relatively new to me um i didn't really think about allocating until recently.

And then I kind of sat down and took a look at the numbers and trying to get my budgets set up with my new job. Um, so I guess if, if I stop paying or if I'd stop paying student loans until the baby's here, I would allocate all, I guess all that money towards, uh, uh, the, the birth, which would, uh, Well, it's not that you're necessarily going to stop paying on them. You're going to pay on them. I'm saying don't pay extra. Right. That allows you guys and i want you to get what ken's trying to get you to do is to get to a threshold of what what your target is you don't have a goal because you're not even sure and so we don't want you to

stop paying on the student loans that's not necessary i just i'm trying to help you psychologically get to a place where you feel much more comfortable because you're scared right now you're going to be a first-time dad we get it chris and i I have been there. Hey, how much further does she have to go? She has about, let's see, five or six months. But she doesn't have health insurance either. So that's another monkey wrench that got thrown into there. Well, and that's a matter of you talking to your benefits professional to find out when you're eligible for that and get her on yours as soon as possible.

She doesn't have a social security number. She's an immigrant. So we are kind of, which makes this question a little more complicated. And I've tried to look at different insurance policy plans, but they all require a social security number. That changes this question dramatically. And here's the thing that I'm going to want you to do. I want you to go to DaveRamsey.com.

I want you to get connected with one of our insurance ELPs because I am not sure of the process or what has to be done or what can be done, but I know they will be. And so again, go to DaveRamsey.com, get connected to an insurance ELP and begin to kind of walk through that because you may be facing a larger dollar amount than you're even anticipating. So now I can understand his tentativeness with this. And so instead of wondering, let's get the details, let's get the information and the facts so we can deal in knowns, not speculate. All right. So to that end, you're the money guy uh i know the baby steps all right but i've got a question on this because i think it's other people that are in the situation if we find out or if he finds out

that this is going to be completely out of pocket because i think that's what he's worried about it feels like it could be right so let's say it's a large number that you know he's not sure what that is and they go you got to pay for the birth and the hospitalization all out of pocket and he doesn't have it that we we are okay in that situation where he's well where he's got to figure something out yeah well i mean not pausing the debt payments but what does he do well the reality is is in most scenarios where people run into emergencies and they don't have it it's not that you're paying it up front but you are going to have to pay it. Yeah, it becomes another one of the debts.

It becomes another debt. That's exactly right. And all you would do is approach it in the debt snowball form so it would fall. If he had $15,000 in student loans and the birth ends up being $25,000, he's going to attack student loans, then go down and attack the hospital next. And so that's typically the approach with that. Rod, thanks for reaching out. And I think you guys getting the answers, and I think you go in together.

Once you talk to this insurance ELP, if you do a face-to-face meeting, that way everyone's hearing the information and can get all the questions answered. But that's the approach, my friend. But I do want to let people know, if you're out there and you're pondering getting married and you say, well, I've got debt, or maybe your fiance has debt and you think, we're not getting married until we get debt free. That's not something that we would tell you. Okay? That's not something that we say. That's something you can decide. But the most important things is that you're in the same page, on the same page with getting married or adding to the family. I think it's important just to think those things through and to talk it out so you can know exactly where you are and where you're headed.

All right. I do want to let people know we were just talking about the insurance ELP. This is where you can go if you have insurance-related questions about your health care or about additional coverage you might be looking for. We also have people that can help you with the financial side of things. And so, again, if you've ever lost or quit a job, let me remind you to not leave your employer-sponsored plan, the 401k, with an old employer. Anytime you leave a company for another, always roll your 401k into an IRA. And all that is, is an individual retirement account. And don't ever, ever cash it out. You want to go with an IRA because it's going to offer you more investment

choices and you remain in control, not the employer. So now when you're rolling over your 401k, make sure you're doing it with an investment professional like one of our SmartVestor Pros. There are literally thousands of mutual funds to choose from out there. Some are really good and others aren't. So our SmartVestor Pros will help you navigate and understand which ones are the best ones for you. Here's what you have to do. Text the word INVEST to 33789. Again, that's the word INVEST 33789, and we'll help connect you with a SmartVestor Pro near you. Folks, again, never again leave a 401k with an old employer. That's really important, and it's something we've got to remind ourselves, obviously, as we move forward.

Okay, real quick. Ken, I know you've been working on this, and you have been for over a year now, but you put out a new course and it's called get hired jobs are on the top of a lot of people's minds right now what's in the course and how can people get it yeah so we've uh we have taken uh my clear path that leads you to ultimately the dream job and we've broken it down for people who just need a day job right now and for those who still want to get that dream job some of you're going i just need to get hired to get stable and so we've got 11 and part 11 part video series where i'm teaching and it covers everything from the resume to preparing for the interview to follow up uh how to find the right gig how to make the connection so that you

get the opportunity it covers the entire journey for anybody who's looking to either get a job or get a better job it's called get hired it's a ken coleman.com and uh the price on this thing chris it's got to be a typo uh it's not it's only 20 bucks to get an advantage i mean it's a major advantage so it really it truly is it's 20 It says 1999. Yeah, you know, all right. I put an extra cent on that. So it's, you know, trying to get everything I can out of this. But no, it's really a great course. And it's designed for somebody who wants to get the information quick and apply it. Here's the thing.

All you need is a computer, tablet, or phone to watch, and you'll have access to unlimited plays of each lesson for one year. That's pretty strong. Listen, I want to thank all the callers for taking the time to call in. Thank all of you for tuning in. I want to thank producer James Stiles, associate producer Kelly Daniel, and I want to thank Ken Coleman for taking the time to hang out with me. We had a blast.

Always fun. This is The Dave Ramsey Show. Dave here. We just launched a brand new survey, and we'd love your feedback. You'll be entered to win a $100 Amazon gift card. No purchase necessary. Take the survey at DaveRamsey.com slash survey or text survey to 33789.