The Ramsey Show - App - Insight on Money in Marriage and Mama Bears (Hour 3)

Episode Date: July 3, 2018

The show about you

Live from the headquarters of Ramsey Solutions, 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. You jump in. We'll talk about your life and your money. It's a free call at 888-825-5225. That's 888-825-5225. Donald starts off this hour in Pensacola, Florida. Hi, Donald. How are you? I'm doing well.

Good. How can I help? I know that you're not, and I'm not either. Now, I'm a fan of timeshares. You're right. But I do have a timeshare that I would like to get rid of somehow or other. Okay. And it is completely paid off.

All that I owe is the maintenance fees once a year. Okay. Is there any way that I can get out of that? They're very, very, very difficult to get out of that um they're very very very difficult to get out of and for many years here on the air i just told people uh to go back to the original timeshare company even offer them money to let you out even though you've already paid for it um because you know the the monthly or the annual maintenance fees go up every year just about, and, of course, there's no selling them. Nobody wants them, and so they have no value.

You're just stuck most of the time. And then about, I guess, three years ago, we ran into a company and started checking them out, and it took us about a year to get convinced that they were on the up and up called timeshare exit team and these guys have actually figured out a way to get people out of the timeshares and they work with the timeshare companies uh sometimes they work with them on a friendly basis and sometimes it's not so friendly but whatever they need to do they take the steps to walk you out of the timeshare obviously you don't get anything for it as a matter of fact you will pay them a fee to get you out of the timeshare. Obviously, you don't get anything for it. As a matter of fact, you will pay them a fee to get you out of it.

But they do get you out or they give you the fee back. There's a money-back guarantee on it. And they're a straight-up company. They're very, very, very busy. We have sent them a ton of business, as you might imagine, and they do a good job. It takes a little while. It takes several months to get the process through, and the fees are pretty substantial, but it gets you out, and you're done.

Otherwise, you're stuck in the stupid thing, paying these annual maintenance fees that go up every year just about for the rest of the time. But it's called Timeshare Exit Team, and if I personally owned a timeshare today that's what i would do i would call them and uh and i'd pay the fee to be done with it i hate them um i've just seen over and over and over again how people get stuck in them and i have no use for them at all i mean very few products have like a 97 dissatisfaction rating and timeshare is right right there about three percent of the people that own them actually like them. The rest of the people are just like they're getting screwed.

They know it, and they hate it, and they're mad. And the hilarious thing is there are several timeshare people out there floating around. When you go up to their little booth or whatever, they'll tell you Dave Ramsey has one. They lie, which is absolutely hilarious. I mean, that's like saying Dave leased a car. That's the dumbest thing somebody could say. I had a guy working for me here that was in a local dealership, and the guy at the local dealership tried to convince the guy working for me

that I had leased a car there, and I never even bought a car at that dealership. That's hilarious, but I mean, that kind of stuff comes up. So anyway, timeshare exit team, and that's where I would send you. And that is how we vet the people we endorse, by the way, is would I go there if I was in that situation? And the answer is yes. Ashley is in St. Louis. Hi, Ashley.

How are you? Hi, I'm great. It's really exciting to talk to you. You too. what's up uh so last week my husband and i are uh we're debt free um uh we just paid off our last debt and so we are um in the process of savings for our emergency fund which we expect will take about three months. Good. And then the issue is that I'm still sort of feeling like gazelle intense. Like I want to just, after we save our emergency fund, I just want to keep going and pay off our house as quickly as possible. You know, after we start saving for retirement

and kids college and things like that my husband um feels like well we need a we we should have a reward for all this hard work we've been doing and um and we should start to just relax a little bit since we're now debt free and we will have our emergency fund safe after after the emergency fund is done, he's right. Okay? I would not try to stay gazelle intense for seven to eight years. You can if the two of you both want to, but what we found the most success is. Now, you know, letting your foot off the gas a little bit does not mean we let it off the gas and stomp on the brake and go back to what we used to do. It doesn't mean we're not intentional.

The rest of your life, you're going to have to tell money what to do. You're going to be very intentional, and you're going to have to make decisions together, and you're going to have to be very careful and wise and so forth. But you do need to, by letting your foot off the gas, you know, after you finish your emergency fund, that's when you would save up and buy a little better car if you're driving a junker. That's when you'd save up and go on a vacation if you hadn't been on one in a while. That's when you'd save up and buy a couch, you know,

if the couch has got springs sticking through it because you've been gazelle intense and putting off buying a couch. I don't know what it means in your life to let your foot off the gas some, but it doesn't mean that we're going to you know suddenly stop budgeting it doesn't mean that we're suddenly going to um you know take our eye off the ball we're just not going to run in a dead sprint like the cheetah is chasing us we're but we are going to continue to jog does that make sense yeah it makes a lot of sense. And so, you know, if he's suggesting, okay, we can go back to the way we were living, then he would be wrong. But after baby step three is where we say let your foot off the gas a little bit, enjoy a little bit, have a little bit here, a little bit there,

but not to the point that, you know, that we spend everything we make again. Okay, we're not going back to that ever again. We're always going to be giving. We're always going to be saving. We're always going to be enjoying. We're always going to be giving. We're always going to be investing. We're always going to be enjoying.

And saving up and paying cash for whatever you do, whenever you do it, is definitely the way to go. And from this point forward, the rest of your life, so you don't go into debt again, that kind of stuff. That doesn't change. That doesn't change at all. But that's the route I'd go. Hey, thanks for the call. We appreciate you joining us.

Open phones at 888-825-5225. We're glad you're here. We appreciate you hanging out with us. This is what we do. If you'd like to help people win with money, you can do that. You have the power to help people change lives. You have the power to have a front row seat as lives are being transformed. It's called Financial Peace University, and you would become a coordinator for a Financial Peace University group in your area.

When someone joins the Financial Peace University membership, they've got full online access to every dollar plus, to all the lessons, and they go to a nine-lesson group, nine lessons in a local group, and the coordinators run the local group, and it changes everything. So if you'd like to be a coordinator, text the word LEADER to 33789. That's LEADER to 33789. Or just go to DaveRamsey.com, and our team will help you do this. This is the Dave Ramsey. You know, most of us have gotten behind on our bills at one time or another. That's nothing to be ashamed of.

It happens. And many of us know the embarrassment that comes with those harassing calls from collectors. Some of these guys are just scum. But then there are the collectors that are just plain crooks. These are the guys that take it a step further and they violate the Federal Fair Debt Collection Practices Act on a daily basis. They're breaking the law and they need to be stopped. The truth is, debt collection is the most abusive, out-of-control industry in America today. But you don't have to put up with it. If you have collectors calling

you multiple times a day, calling you at work after you've asked them not to, cursing or threatening you in any way, then you need to visit CollectionBully.com. These folks will connect you with an attorney who I know can help you. These attorneys know how to stop collection agencies from bullying and threatening you anymore. CollectionBully.com. Go to CollectionBully.com today. That's CollectionBully.com. Thank you for joining us, America. We're glad you're here. Open phones at 888-825-5225. You jump in.

We'll talk about your life and your money. It's a free call. Kyle is with us in Tulsa. Hi, Kyle. Welcome to the Dave Ramsey Show. Hi, David. Great to be talking with you. Sure.

What's up? Yeah. Me and my girlfriend have been going out for over a little over a year now and she has two kids and we've talked about marriage a little bit and i'm trying to figure out i have debt on my own so i'm trying to figure out how to like prepare my life um my future um that way they can have a good future too and you you know, make sure everything works out. Okay. You said you have debt.

Is that what you said? Yeah, I have. Yeah. Yeah, I do. Okay. How much debt do you have? It's about $17,000. Okay.

And how much debt does she have? She has roughly about the same. She has a car. And what does she have? She has roughly about the same. She has a car. And what does she make? She makes $25 a year. What do you make? The same, yeah. We both work at the same place.

You both make $25? Yeah. So if you were married, you'd have a $50,000 income with $34,000 worth of debt. Did I understand that right? Yes. Okay. And when would you be talking about getting married? I'm not sure.

I mean, that's kind of what's up in the air right now. Yeah. Just trying to think through it. Okay. Well, I mean, the main thing is not whether or not you have debt. It's whether or not you are in agreement on how you're going to handle money, meaning that we're going to be in agreement that we're both going to attack this debt with a vengeance. And we're going to get rid of it so that we can build wealth,

so that we can have a great retirement and these kids can go to college and so on. How old are you? I'm 25. How old is she? 22. And she has two kids. What ages?

Yeah. Four-year-old and a six-month-old. And a six-month-old. Okay. Yes. So she's recently gone through a divorce. Yeah, or a breakup. Yeah, it's kind of messy.

Okay. All right. Well, what I would tell you is this. You want to make sure that the two of you sit down with a pastor and a marriage counselor and get some detailed, in-depth family counseling because you're going to be an instant dad. Yeah. And these little kids don't come with a training manual.

Yes. And so, you know, you want to make sure that you're going to be able to speak into the raising of these kids. And if mama bear rises up and says you're not able to speak to that, and yet you're paying the bills and living and married and so forth, that's going to cause problems in your marriage so you know the management and the the encouragement and the discipline and the nurturing of the kids um can become a real sticking point uh when they in a blended family and so you want to make sure that you guys have worked all of that through and that you've worked through the money decisions. We're going to stay out of debt. We're going to save and invest.

We're going to get out and get rid of this debt. We're going to be on a budget together. We're going to have a plan. Here's the reason I'm bringing that up. The data that we have from doing this for 30 years is the number one cause of divorce in North America today is money fights and money problems. There are four things a young couple need to be in agreement on.

And if they're in agreement on these four things, the data points tell us they have a high success rate in their marriage, a very high success rate. Number one is money. Number two is kids. Number three is money. Number two is kids. Number three is religion. And number four is dealing with the in-laws, the extended family, because there's crazy in every family, and you've got to know how to deal with it. Okay? Oh, yeah.

And so if you guys can, the two of you can, in your pre-marriage counseling, get a real flow chart, a real template on how to deal with the kids, that you're both going to be in agreement. You're going to love those kids like they're your own, and you're going to be consequently speaking into their nurture and their discipline as if you were their biological dad. Right. And you're going to set that plate up you're going to put that on the plate ahead of time the same thing with the money we're going to combine our money we're going to be in agreement on where we're going with the money we're going to be in agreement on our religious affiliations we're going to be in agreement on uh dealing with in-laws because in other words you can't let mother-in-law get between you, as an example.

That kind of thing happens all the time. If you can get those four areas covered, all the data tells us you have about a 90% success ratio with your marriage. One of those four things is where almost everyone trips up. And you've got two of them right now that are bothersome. So you really need to address them. You have a very young fiancé with very young children recently coming out of a toxic situation. Danger, danger.

Yeah. Okay? And so take your time, and I'm not saying not to love the woman. I'm not saying she's not a great woman. She probably is. All that's fine. But just take your time and get detailed, in-depth pre-marriage coaching and counseling. And by the way, people that do in-depth pre-marriage counseling have a very high success rate of marriage. All right. Because good marriage counseling done ahead of time, good pre-marriage counseling, will keep a bad marriage from happening. Right. It'll ruin it.

It'll ruin the engagement if it's good stuff, if the engagement needs to be ruined. And if there's too much toxicity and you're not going to survive anyway, it'll blow it up. And that's what you want to do. I mean, tough, tough discussions. You want to have those before you get married, not after. I mean, marriage is tough enough when you got everything lined up but when it's not lined up oh my goodness can you have a mess so hey there you go thanks for joining us taylor is with us in seattle hi taylor how are you hi dave i'm great how are you better

than i deserve what's up um so I just wanted to get some advice. So I am a nurse. I've tried different sectors of nursing and have finally found what I'm passionate about, and I love it. The only problem with it is that now I want to become a doctor in that field because I am loving it so much. The deterrent being I don't want to be $200,000 in debt for medical school. Well, that would be a good idea. Well, yeah. And the only advice I'm getting from people is you either go $200,000, $250,000 in debt, or you join the military. So my question for you is, do you know of a better way to do it and do you think it's

worth it to go that much in debt for a career you know will i where i will make 250 to 300 000 a year i can't quite get my head around what the right well you may you may you may not too um we don't have control over that uh the only way that works is if it works, and sometimes it doesn't work. So, no, I don't ever tell people to go into debt, ever, not even for that. So what would I do if I were in your shoes? Military is an option. The second thing I would look at is the MD-PhD programs where you get a fellowship and you go to work for a university, basically.

For instance, Duke has one of those. They're hard to get into, but if you can find one of them and get in, basically the premise is that you become an employee of the university working there, and then the school is free. But your income drops to near nothing. In your case, probably the last one is the best one, is I would look for one of the big hospital companies to fund it. And in return, you would have to agree to work for them for a certain number of years.

And they're recruiting heavily docs, especially going into some of the underserved areas. And so you might end up working a rural hospital or something that wouldn't be your first choice for three years after school, but then they would give it to you free. There's a payback. It's kind of an indentured servant plan, if you will. But check out that. That's what I would look into. Let me tell you a story about two families that are very much alike in a lot of ways. Both families have two working parents and a couple of young kids.

Each has debt and a struggle to make ends meet. But they're starting to make headway with their budgets and smarter decisions with money. They have dreams and plans, and the only real difference is that one family has the right amount of term life insurance, and the other doesn't. Big difference. If one of the parents die, and that does happen, their well-being would be destroyed. Paying for the mortgage, utilities, food, and other bills would be impossible, let alone saving for education or retirement. That's why every day I talk relentlessly about getting term life insurance. Just go to ZanderInsurance.com or call 800-356-4282 and see how inexpensive it really is.

Be the family that takes those deliberate steps to be different and responsible. It really does make you the hero of your story. And it puts you on course for better things ahead. In the lobby of Ramsey Solutions, Tim and Anna are with us. Hey guys, how are you? Good. Hey Dave. Welcome, welcome. Good to have you. Where do you live? We are from Fedville, North Carolina. Alright, just over the ridge. Yes. Well, good to have you over guys. Welcome. And how much debt have you paid off? $96,363. Love it. How long did that take? 36 months. Good. And your range of income during that time 95 000 okay what do you guys do for a living i'm a piano teacher and i'm a high school band director all right very cool good for you guys what kind of debt was the 96 000 um it was some irs uh a truck that i had purchased a grand piano that she wanted which was more than the truck yes yes it Yes, it was. Yes. And some student loans.

I forgot about that one. Okay. All right. And some credit cards. And some credit cards. You guys were normal except for the grand piano. Yes. Yeah, okay.

Very nice. Good. So did you sell anything big? Nothing big. We sold everything we had and owned on yard sale Facebook groups. So we went from a three-bedroom house and a garage. You kept the piano and you kept the truck yes kept everything yep paid them off yes so basically you did about thirty

two thousand dollars a year for three years making 95 that's pretty strong yes yes yeah you're budgeting tight yes taxes and everything you're on to watch what you're doing yes very cool so what happened three years ago that put you on this journey i was a public school teacher and i went to teaching privately which is an independent contractor and i wasn't prepared with the irs and we got that big bill and um before that my parents are dave ramsey people so they said you need to do dave ramsey and i'm like we're just teachers we can't do dave ramsey and then we got scared to death with the tax bill what does that mean we're just teachers we can't do davesey. And then we got scared to death with the tax bill. What does that mean?

We're just teachers. We can't do Dave Ramsey. I know. Teachers can't do Dave Ramsey. Yes, we don't make any money. We're poor teachers. You're $95,000 a year. It's crazy. It's absolutely crazy.

And so then we sold everything and moved my grand piano into a one-bedroom tiny apartment. And we've been there for three years. Yes, and that helped. We sold. Were you renting before? Yes, we were were renting so you just moved to a smaller rental correct yes and crammed everything in there yes yeah and went beans and rice rice and beans correct correct yes okay so you didn't pay you didn't hold your taxes back as an independent contractor and that ended up how big was your irs bill nine thousand dollars the first year but it's the irs yes just scares you to death i mean it's the kgb they're coming after correct yes yep wow wow wow so that was it scared you you got scared that's what got you going correct cool okay so

then dave ramsey thought okay we better do this yes we actually found your book in a used bookstore i love it and um we got gazelle i read it in a day and a half and then tim read it and we got gazelle intense and we took the fpu class about two years into it to um meet like-minded people for encouragement for that last year because everybody was telling you you're crazy yes definitely yeah they all still make fun of us sometimes i love it well you're debt-free though yes 96 000 how proud are you of yourself? That's got to feel great. Oh, it's unbelievable.

I'm super proud. I didn't think that would ever happen. Yeah, you did it. I mean, you did it. You did this. That's pretty cool, isn't it? Yes. I mean, that's neat.

I'm proud of you. Well done. So I'm sure your mom and dad, those Dave Ramsey people, I'm sure they were cheering you on. Yes, correct. Okay. But people around school or whatever are making fun of you. Yes. Yes.

Everybody's going on vacation during the summer, and we're sitting at home eating sandwiches. Yeah, teachers can't do Dave Ramsey. That's right. That's right. Yes. I love that. That's funny. Yes.

Okay. I've never heard it before. That's great. I've heard I'm too poor to do it, which I thought that's kind of the antidote. But anyway. Wow. Way to go, you guys. What do you tell people the key to getting out of debt is? I would say sticking with it.

Like we met someone this week, and we were like, he was in his fourth month. And I was like, the first six months are the hardest. But once you get through the six months, that's just how life is. And you can move on forward from it. And finding your big why. What is your big why? Let me come back to that. What happens after the six months, do you think, that causes you to be able to, like you got over the hump emotionally, you're like, we can do it now.

Right, yeah. It was just a change in lifestyle. I mean, we literally went out to eat every single night, and we no longer do that. Yeah. You haven't seen a restaurant in a while. Yes. Wow. Okay. do that yeah you haven't seen a restaurant in a while yes wow okay so that change yeah so it was the it took six months to get the the shock to the system right your household culture had to change and the shock to that it took it to reset to settle back down right absolutely in the new

rhythm the new normal yes yeah okay that makes sense all right and you have to have big enough why you said what was your big why getting rid of the irs yes yeah and my big why was to not have to worry about him being just a teacher oh yeah well that's interesting yes you get to live your life because you don't have somebody else telling you how named banks yeah right yeah nobody with payments saying you have to do it a certain way. Now you can go be who you want to be. Yes. That's important.

I like that. Yes. Very, very good. Congratulations. What was the hardest part for y'all? I mean, it's a long three years. Yeah. You've been getting it.

Well, I know for me, the hardest thing was moving to that one-bedroom apartment. Yeah. That's gross. Yeah, and that was the stipulation because she was like, Dave would say, get rid of your truck, and I was like, then you've got to get rid of your piano. Whoa! So we compromised, and we took our two nice items and moved to this small apartment.

Yeah, okay. Yeah. Well, you paid them off. Yes. That's the thing, and you kept them, and now we start again fresh with a good truck and a good piano. Yes. Yes.

Yes. Very good. Very good. Yeah, that is a big step down, though. It's humbling, really, isn't it? Yes. Right. And I remember driving a piece of crap car, and it was just humbling.

Because I've been driving a Jaguar, you know? And then I go broke, and there I am in this Bondo buggy, you know, and it just, there's something that changes inside of you from that point. You know, when you do that, what happened to me? See if it happened to you guys or not. I think there's something there. We did it for the math, but the unintended consequence was that it really made me realize I didn't care what other people thought. Yes.

That I cared more that we win. Correct. Yes. Yeah, definitely. Because people, when you've made that move, that's when people went, y'all are nuts. Yes. Yeah. They still think so.

That's when the naysayers, that's when the trolls come out. Correct. Yeah. The naysayers, they're going, these people, they're crazy, man. They joined a cult. They're going crazy. They don't go out to eat. They moved in a one-bedroom apartment.

They aren't going around. All the broke people start circling and whispering in your ear. And then you had to join Financial Peace University to get like-minded people around you. Yeah, that's good. Yes. That's good. And you need a community around you that's encouraging you. Yes. I think that's why 12-step works for folks that's good. Yes. That's good. And you need a community around you that's encouraging you.

Yes. I think that's why, like, 12-step works for folks that have got addictions. They get like-minded people around them instead of drunks. Yes. You know, or instead of addicts or whatever, right? And so you get like-minded people around you that are saying, we're going to beat this and we're going to beat it together. And this is a little different, but you still have to have, you know, because you become who you hang around with.

Absolutely. You really do. So, well, way to go, you guys have to have when you know because you become who you hang around with you really do so well way to go you guys proud of you thanks how's it how's it feel amazing it feels fantastic it still doesn't click quite in until this vacation we saved for this vacation there you go yeah and then we're like you know we can go home and we don't have to worry about what how we're going to eat for the next three weeks of this month. Everything's paid for and paid for cash. And we didn't bring the vacation back with us for the next three years on a credit card. There you go. The vacations that follow you home are no fun.

Yes. Good job, you guys. We've got a copy of Chris Hogan's book for you, Retire Inspired. As you know, it's a number one bestseller, and we want that to be the next chapter in your story. Keep going. Be millionaires now. And you're on your way. Yes.

Even a teacher. Yes. Even a couple of teachers. Even teachers, yes, sir. Can be millionaires. As a matter of fact, we found a lot of teachers in our millionaire study we just completed. Oh, that's awesome. So there you go.

Well done, y'all. Well done. All right. Tim and Anna from Fayetteville, North Carolina. $96,000 paid off in 36 months, making $95,000 a year. They did it. Count it down. Let's hear a debt-free scream.

Three, two, one. We're debt-free! Yeah, baby! That's how you do it right there. I love it, I love it, I love it, I love it. Man, as fun as it gets. Isn't that interesting? The first six months is very hard, and after that you have a new normal.

Huh. I haven't heard that one. That's kind of a new insight from a debt-free screamer. I like that one. Having a big why, new insight from a debt-free screamer. I like that one. Having a big why, being on a budget, those are really important. We hear those all the time. But it takes about six months to reset the culture of your household. There's insight in that one.

Don't miss that. These are good, good times. This is The Dave Ramsey Show. Okay, I need you to listen to this. Because one normal routine that everyone does can cause total chaos in your life. I'm talking about the simple act of using Wi-Fi.

When you're on Wi-Fi anywhere in public or at home, you're at risk of hackers easily seeing every site you visit and every search you're doing online. It doesn't matter if you're on your cell or your laptop. They can see you visiting websites, streaming or downloading, uploading photos, files and more. I'm not telling you this to scare you, but I want you to be aware and take action. You need to download an app called Hotspot Shield. Hotspot Shield helps keep your connection on your own Wi-Fi and any public Wi-Fi secure. 600 million people worldwide have downloaded Anchor Free's Hotspot Shield.

Download it right now. Just search Hotspot Shield on iTunes or Google Play or go to hotspotshield.com. You can be secure in seconds. Download Hotspot Shield by Anchor Free today. Our Scripture of the Day, Galatians 5.1 It is for freedom that Christ has set us free. Stand firm, then, and do not let yourselves be burdened again by a yoke of slavery. President Harry S. Truman said, America was not built on fear. America was built on courage, on imagination,

and on unbeatable determination to do the job at hand. Happy Fourth of July, everybody. You ought to celebrate. You live in the best country in the world. I did not say a perfect country. I said the best. We've traveled. I've been all over the world.

And I appreciate those of you out there that are listening on podcasts around the world, and that's fine. We're happy you're there. But we're proud of America here. Ramsey Solutions loves America. Dave Ramsey does. And I've been everywhere else, and I don't see any place else I'd rather be. Yeah, there's a lot of problems, and there's a lot of stuff going on,

and there's always something to be mad at and always something to argue about. And you can listen to those other talk shows, and they'll tell you everything to be mad about. They're all over the place, right, left, twisted, untwisted, whatever. But I defy you to find a better place. And by the way, if you do find a better place, you should go there. I mean, I love the state of Tennessee. There's some other wonderful states out there, but if I decide that

there's a state better than the state of Tennessee, I will leave and go there. You should like where you live. If you don't believe anymore, you should leave. It's not a religion it's just a matter of simple common sense if you hate the church that you go to why do you go there dummy go to another church mess it up if you hate the job you have why do you keep working there i have to pay the bills we'll get a different job people here crooks will go get another job not like there's not other jobs

why do people stay in places they hate i don't understand it's not logical some people stay just because it's their job to whine like it's a spiritual gift or something but this country oh it's a grand experiment and it's working in spite of all of its flaws in spite of all of its roller coasters and every one of us could make a laundry list in about 30 seconds of things we wish were different every one of us could and there's some things that should be different. I don't disagree about that. But I defy you to find a better place. The little man can get ahead here. Freedom is still free.

It still doesn't cost anything is what I mean. It does cost the blood of patriots occasionally. We know that. But happy fourth of july i was at the store a while ago and my wife was my wife's down at the lake house i'm getting ready to go down and join her in a few minutes and she's she told me she said pick up some fresh flags the ones we've got are a little bit faded i picked up a couple of fresh crisp brand new american. Put them up. So if you come by the lake house this weekend on your boat, you'll see them. And we mean it.

We mean it. I've been these other places, and I understand. Well, Sweden's got this. Well, go to Sweden if you like Sweden. I don't care. But, you know, I'm not up for a 65% tax rate. It doesn't thrill me. That's one of the reasons I live in the state of Tennessee, zero income tax, state income tax.

So I like it. I like freedom. I like economic freedom. I like the idea that you can decide right now. If you're within the sound of my voice, you can have the human privilege of deciding to be better starting right now. Ready, set, go. You can decide what you want to do. All right, let's do it. Isn't that weird?

It's one of the few times in human history you've had these options. You have the economic power. Oh, some of you don't think you do. You think an ism has got you, but you've got more power than you think you do. You've got more options than you think you do. You just have to decide. See, that's what freedom is. That's what liberty is. It gives you the right to decide. See, that's what freedom is. That's what liberty is.

It gives you the right to decide. The problem is some people decide to do nothing, and they're good at it, and then they complain. So don't be one of those. Decide. Take advantage of the liberty that you have. Take advantage of the liberty that you have. Take advantage of the freedoms that we have.

There are more first-generation millionaires in America today than there ever has been in the history of the world anywhere at any time. That's a statement if you think about it. There's implications of that. A redneck hillbilly kid like me can start with nothing and be a millionaire and be so stupid that I lose it all. I'm so dumb I had to do it twice. But the typical millionaire in America, upward of 90% of them are first-generation rich.

That's what all of our research shows, and we'll be releasing the book on that soon so you can read it. Most millionaires started with nothing. I met one earlier today. I asked him, I said, did you start with nothing? Yeah, I started with nothing. What did you do? Save money.

Just a decision, just like that. Sounds so simple, doesn't it? Well, some of the most profound things in this life are simple and it's your choice is one of those profound things you have the choice you get to decide tomorrow why don't you use this fourth of july holiday as your reset i'm gonna celebrate america's birthday i'm gonna celebrate freedom by taking advantage of the freedom that I have starting today. When you

come back Monday from the 4th of July weekend, I want you to come back with your hair on fire. I want you to come back and work while you're at work. That's a new thing for some of you. I want you to come back and have some of you. I want you to come back and have some intentionality.

I want you to tell every dollar what to do and behave. I want you to be in agreement with your spouse. Let's start doing grown-up stuff, boys and girls. Adults devise a plan and follow it. Children do what feels good. You need to celebrate America's birthday by you taking that freedom and using it to your advantage to change your life and change your family tree. Most millionaires are first-generation rich.

When are you going to sign up? Nine out of ten of them. When are you going to sign up? All rich people inherited their money. No, they didn't. That's mythology from people who are losers who want to tell you you can't win and we need socialism and anarchy. And those people are known as losers.

Look it up in the dictionary. You'll see their picture. It's a lie. It's mythology. The wealthy inherited their wealth. Not in this country. This country is full of bootstrappers. They start with nothing, and they persist,

and they steadily, consciously, intentionally keep their lifestyle down and invest. And then they wake up one day and went, God, a kid like me who grew up the other side of the tracks is a millionaire. A kid that grew up like me in such and such a situation. They're always a little surprised, these millionaires, when I meet them, that they got there. I never thought I would get there, and then here I am. It's always like this little bit of a shock. But it really shouldn't be a shock. It was a system and a process and a step-by-step proven plan, and they followed it.

There's no shock involved. It's just that when we get there, those of us that have gotten there, we somehow, even though we earned it, we somehow don't feel worthy. We feel like, gosh, wow. All that sacrifice was worth it. All those times I did stuff that people made fun of me, it was worth it. All the times that I didn't do this or didn't do that, it was worth it.

So when you come back from the 4th of July weekend, come back with your hair on fire. Come back and use the freedom that America gives you to change your life and change your family tree. That's your assignment from The Dave Ramsey Show. We wanted to give you that assignment for the weekend.

Something to ponder while you're celebrating. Change your life, baby. That's what it's about. That puts us out of The Dave Ramsey Show and 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. Hey, guys, this is James Childs, producer of the Dave Ramsey Show. I'm excited to announce that we're now carrying on 600 radio stations across the country. To find one near you, head to DaveRamsey.com slash show.

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