The Ramsey Show - App - I've Been Sued by My Credit Card Company! (Hour 3)

Episode Date: January 11, 2021

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Music 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 am Dave Ramsey, your host. Anthony O'Neill, Ramsey Personality, is my co-host today. As we answer your questions about your life and your money, it is a free call. Some say the advice is worth exactly what you pay for it.

888-825-5225 is the number. Aaron is with us in Marion, Illinois, starting off this hour. Hi, Aaron. How are you? Good. How are you guys? Better than we deserve. What's up? So my wife and I are in baby step two. We have a long way to go. And one of the things we're trying to do is get rid of the car that we go on. And we're having trouble selling it. And so one of the ideas we've been kicking around is because we're

a little upside down on it is to move out in front and kind of pay extra onto it to kind of knock down the loans. We don't end up owing, you know, extra when the bank, when we sell it. So I just thought about that idea and just, if that makes sense.

I'm with you. How much debt are you currently in all together right now aaron uh right now we're at 191 000 most of it's your mom yeah i was about to say that has to be student loans who's the doctor or lawyer uh i'm an accountant and it and that number just keeps going up, doesn't it? Wow. So how much is the $191,000 in student loans? About $100,000. About $100,000. What do you owe on the car? About $16,000, and it's worth probably between $14,000 and $16,000. We've been trying to sell it for about a month, and we haven't had anyone even...

What kind of car is it? It's a Buick Enclave. Have you got it listed at the market value, or what you owe? I put it at the high end of the Kelley Blue Book, which was 16. And so, I mean, it's a little high.

What's the low end? It's pretty... I don't remember. I'd have it's a little high. What's the low end? I don't remember. I'd have to look again. 14. Somewhere. Yeah, 14 or 13, yeah. What's y'all's annual income right now?

Well, we have four kids. My wife's at home, and we have about 100, if you ever take a year. Okay. All right. So have you tried to borrow the difference? If you needed to borrow the $3,000 to get out of the car, could you? Probably. I just didn't want to.

I don't want you to, but I would rather you have $3,000 in debt than $16,000 in debt. When you sell this car, what are you going to drive? Well, we were going to pile up some cash as soon as we sold it and then try to go buy a cheap van this is basically the car that my wife drives all the kids we have another car that's paid off it's about probably three or four about 10 years old it's just going to drive to work yeah okay so either plan would be fine. To pay it down and get rid of it

or to take out a $3,000 personal loan because you reduced your debt from 16 to 3. Okay. You're still reducing the debt and you can still pay off the 3 in your debt snowball and it'll still be in your debt snowball one of the quicker ones you get to. Yeah.

Yeah. Okay. Yeah. Okay. Yeah. So either way will work. But, yeah, you're right to – the car is not your problem, but you need the traction because you're in such a deep hole that you need to get – you're doing everything right to get there. And I appreciate you being willing to sacrifice to cause it all to happen. Yeah.

Hey, thanks for the call. Open phones at 888-825-5225. You guys jump in. We'll talk about your life and your money. Lynn is with us. Lynn is in Raleigh, North Carolina. Hi, Lynn. Welcome to the Dave Ramsey Show.

Hey, Dave. How are you doing? Better than I deserve. What's up? Great. I had a question about utilizing your flexible spending account versus going into stork mode to plan for a pregnancy. You would do both? Do both. Okay.

By stork mode, you mean stop your debt snowball and pile up cash. Stop your total money makeover baby steps and pile up cash until the baby comes. Is that what you mean by stork mode? Yes. Okay. I may steal that phrase. That's pretty good. Go into stork mode.

I like that. That's pretty good. Initiating stork mode. Okay. Okay. But the, yeah, so, yeah, you pile up the cash, but the money that you're going to, the flexible spending account that you've got is a 125 cafeteria plan at your office, at your company, and it allows you to put money into that account pre-tax to pay medical bills.

Is that correct? Correct. Okay. And so what I would do is estimate what your medical bills regarding the baby are going to be, and I'm going to let the government pay 30% of them by paying them with tax-free dollars through the flexible spending. So if you estimate that you're going to be out-of-pocket $3,000 beyond what your insurance covers, which might be close, you're going to want that $3,000 to be in the flexible spending.

And as you probably know, you do not want more in the flexible spending and as you probably know you do not want more in the flexible spending than you're going to use because whatever's in there at the end of the year goes away you lose it right i can only roll over five hundred dollars a year yeah so if you've got two thousand dollars in there too much at the end of the year you're going to lose fifteen hundred bucks so you don't want to do that but so we want to estimate it and then be just a little bit low but do you know what your out-of-pocket is going to be on the baby um not yet um the deductible on our just our paperwork um looks to be um 1750 but i haven't looked um into more detail on that just yet and then it'll be an 80 20 probably right right right up to a stop loss

and so yeah my 3000 is probably not going to be that far off all right so yeah let's make sure you've got whatever you think you're going to be out of pocket goes in there everything else goes uh in a pile to get ready to restart your debt snowball after baby comes home and we um uh we go out of stork mode. Yeah, and I was just about to jump in on that. Just make sure that once you get that HSA maxed out that you're stocking everything else in the savings account. You're not spending it. And as soon as you and your baby are home and comfortable, you take all of that and you slam that back onto baby set number two.

Yeah. Okay. Absolutely. I love it. Great. I'm glad you're thinking this way. Congratulations on the baby set number two. Yeah. Okay? Absolutely. Absolutely. I love it. Thanks for the question. Great. I'm glad you're thinking this way. Congratulations on the baby, by the way.

Okay, so there's a slight difference between a 125 and an HSA. Health savings account is not what she had. Okay. It's a little bit different. The 125 plan is section 125 in the IRS code that allows a company to have a health program or a benefit program at their work. We don't have one here. We need to do one, probably.

Do we? That allows you to put money into that pre-tax to take care of certain kinds of expenses. Okay. You can use it to pay daycare. Oh, and 125. If your plan allows it. You can use it to pay your medical deductibles if your plan allows it. And it can be in addition to an HSA.

I got you. It's a separate thing, but it's a section under the IRS code. It's usually a larger company because it's a fairly expensive plan to put in place and to manage for the HR team, as you might guess. Yes, sir. Okay. You can have all kinds of different categories in there, and you're purchasing those items with pre-tax dollars. The two best ones I love are the deductible covering or daycare covering. Yes.

That kind of thing. Yes. And so it's a, you know, or eye care or dental, you know, that kind of stuff. You can do it all self-funded that way in there with pre-tax dollars, and basically you're saving all the taxes on it. So for most people, it saves them 30%. Gotcha. This is the Dave Ramsey Show.

Love it. 2021 is finally here, which means 2020 is over. And now you get to decide how this year goes. Rachel Cruz's new book, Know Yourself, Know Your Money, is also finally here. And this book will help guide you to faster progress with your money, no matter which baby step you're on. For years, we've taught you that personal finance is 20% head knowledge and 80% behavior. This is the book for helping you grow and control your behavior. Know Yourself, Know Your Money goes beyond the baby steps

and gets to the root of your money choices and mistakes. 2020 probably gave you a pretty clear view at what your personal money fears are. This book will help you channel those into a healthy money mindset so you can make 2021 a year worth celebrating. Get your copy of Know Yourself, Know Your Money today at the online store at DaveRamsey.com or call our Ramsey Concierge Team at 888-227-3223. Thanks for joining us, America. Anthony O'Neill, Ramsey personality, is my co-host today.

Open phones at 888-825-5225. Katie is in Kodiak, Alaska. Hi, Katie. How are you? Hey, Dave. I'm great. How are you? Better than I deserve.

How can we help? So here's the story. My husband and I, we've done your program twice now. We have zero debt. We currently live on our land in a trailer that we paid for, so we have no debt. We have our emergency fund. We have our three to six months,

and we've been investing in our IRAs, each of us, the last year. So my question is, we're going to build our future home on this property. And we're wondering how to go about that. If we should, in Kodiak, I mean, anywhere, it's expensive, really expensive. We're thinking of doing it in like phases, saving and doing it that way. So I have a few questions, but I guess the first one would be, should, we're going to start saving to build our home. Should we do it in an investment account or a savings account would be one question.

And then in general, my other question for you is like, what do you think about taking out a loan for building our home? Because, I mean, that's a lot of money, obviously, to build a home. What's a lot of money? Tell me how much. Here, I would say an average decent home is $350 350 400 000 i mean if we want like a nice you know our future home like retirement home type and what's your uh what's your household income um so we we take home we give ourselves 5 000 a month so 60 000 a year right now my husband has his own business so there's wiggle room there and he he's been netting about $200,000. That's your taxable income is $200,000?

Yes. Okay. Well, what you take home out of the business doesn't matter. What you have to work with is $200,000, right? To do a $400,000. That's his own business. I mean, that's like he has one employee. That's his expenses.

No, it's not his taxable income then. After expenses is not taxable income. You're talking about his gross revenue is $200,000? Oh, yes. I'm sorry. His gross, yeah. What did you pay taxes on last year? I don't have the exact number, but he made around $200,000 total.

And we give ourselves $500,000. No, he didn't. He didn't around $200,000 total. And we give ourselves $500,000. No, we didn't. He didn't make $200,000. He brought in $200,000 in gross revenues, and if he had $201,000 in expenses, he made nothing. Oh, okay. I guess I need to ask him more. So here's how it works.

The business brings in money minus his expenses, His gross minus his expenses equals net profit. Profit is what I'm asking about. And it sounds like you're pulling 60 out of the profit to come home, but he's probably making more than 60, but he's not making 200, because 200 sounds like his top line is gross revenues. Oh, okay. Great. Okay.

And so if you're making a hundred you might can afford a a four hundred thousand dollar house but otherwise you can't it doesn't matter what it costs there what matters is what you can afford right you can't spend money that you don't have just because that's what it costs otherwise you could go buy a bentley right so i i mean how should we save for this i guess how what would you do where we're at i mean i think it's a simple equation here katie and put in a savings account or if you want to put in a money market account that's fine i'm not going to lock i'm not going to tell you to lock up your money when it comes to saving to build a home um don't put an investment account don't worry about that um i think that's that's number one. And then number two, I would definitely since it sounds like you have two options here, you can save up and build cash.

You and your husband just have to sit there and talk about, hey, it's going to be a five year journey. And are we OK waiting for five to six years to purchase maybe a two hundred thousand dollar house? But if you don't, then the only thing that we're going to tell you is if you take out a mortgage, you need to put down at least 20% and finance it for 15 years with a fixed rate. Yeah. So you have two options there. And I don't think you're building a $400,000 house with your income.

Right. It doesn't sound like anyway. I don't know what your net profit is on that $200,000 you got coming in, but it sounds like it's not the net profit. So the question you need to ask him is what is our net profit, which is know what your net profit is on that $200 you've got coming in, but it sounds like it's not the net profit. So the question you need to ask him is, what is our net profit, which is also what your taxable income is, because that's all they're going to use is your tax return to qualify you for whatever mortgage you get. It'll be a construction loan that converts to a permanent mortgage, a regular mortgage, after the construction project is completed, but all of that will be approved based not on what you think you make,

not on what you wished you make, not on what you put in your pocket but don't report illegally under the table, but what your tax return says. Yes. That's what they're going to use is your income tax return. What did you pay taxes on it? If you didn't pay taxes on it it is not income for purposes of this mathematical formula that the mortgage company is going to use because they can't count it and go oh well what about depreciation listen if you pay taxes on it then you can count it if you didn't

pay taxes on it you can't count it it's that simple and so i'm going to guess and say if he's pulling 60 out, he may be rolling some of the profits back into the business. So we'll give it the benefit of the doubt and say you're probably making 100. That's my guess. Probably not far off of that. It might be 110. It might be 90. But it's going to be somewhere in that general vicinity. I don't think he's only making 60, and I also don't think he's making 200 based on this discussion.

So 400 is probably out of reach. So you're going to save up a good down payment, like Anthony said, and I just use a money market account, nothing fancy, and then get a construction loan converting it to a permanent where your payment is no more than a fourth of your take-home pay. Good question. Thank you for joining us. Open phones at 888-825-5225 melissa is in gainesville florida

hi melissa welcome to the dave ramsey show hi dave thank you um i'm saving up cash to buy a home in cash and i opened a second bank account a high yield interest savings account um and when i got to 250 000 i realized i would no longer be FDIC insured. So I opened a third bank account to continue saving cash. And my question is, when you're actually buying larger properties and cash, especially if I want to start investing in real estate in the future, where do you actually keep all of this money to keep it FDIC insured and safe? You don't. My money that I save for real estate is not FDIC insured. It's in mutual funds. Okay. I buy just an S&P 500 index fund that I'm going to hold where I'm

throwing money to pile it up for real estate. And I can come back and get it after a year, and I'll have no taxes on the gain, or I'll have a capital gain tax on the gain is all. And if you leave it alone at least a year, it'll save you on taxes, and you'll make more on it than you would in a stupid bank anyway. But FDIC insurance is $250,000 per depositor per bank. If you're married, that's $500,000. There's two deposits. I'm not married. I'm single. That's fine. Then you can have three banks and have $750,000, but you're still only making

one, one and an eighth, or one and a quarter or something on your money over there. And so if you want it to be super safe like that, you're surrendering any rates of return. But I don't think anything at all about throwing a million dollars into an S&p 500 that's a very stable account it's as stable as the american economy is uh it could go it could go down in value but the chances of me losing it all is almost zero if the s&p 500 becomes worth zero the american the united states of amer. Mathematically, it is so. That means the top 500 largest companies on the stock market are worth zero.

In order for all of them to be worth zero, that means the United States is gone. There was an atomic bomb was dropped or something, or China took over, or whatever crazy scenario you could come up with. So the chances, I'm not worried about that. Now, can that S&P 500, could I put in a million dollars or $100,000 and then come back four months later and it be worth $96,000? Yeah, I could lose $3,000 or $4,000 on a hundred grand. I could.

But I mean, but I'm not going to, I'm not worried. The FDIC insurance is in the event of a bank failure. An individual bank could fail. An individual mutual fund could fail, but is very unlikely. An individual stock investment really could fail and be worth zero. That's very high likelihood. A much more high likelihood than anything we're talking about. But, yeah, if you want spread out across banks, you can do that.

I don't. I don't fool with it. I just dump it into an S&P 500. This is the Dave Ramsey Personality, is my co-host today. This is the Dave Ramsey Show. Open phones at 888-825-5225. Donna is with us in Wake Forest, North Carolina. Hi, Donna. How are you?

Hi, Dave. Hi, Anthony. How are you all doing? Great. How can we help? Thank you so much for taking my call. I'm a little bit nervous. I've written down all my notes.

So here goes. Give you some background. So my husband and I are on baby step two. I'm an RN and he's a logistics manager and our annual income is about $120,000 a year. I learned about you a little bit late in life. I'm 52 years old. My husband is a tiny bit younger than I am. Here's our dilemma.

I bought a home before I met him, and it is worth, sorry, not worth. We owe $246,000 on the home. It is probably worth about $315,000. If we sell this home, we could be out of debt the day we sell it. Are you living in it? We are living in it currently. But it is a two-story home. My husband is a combat veteran.

He has issues with his knees and his legs. So the stairs, as we get older, are going to be a problem. So you're not thinking, how long do you think you would stay there if you didn't have debt? If we didn't have debt, we wouldn't stay here. We would buy some land, and we would build our home on some land, a one-story home that we could live in for the duration. Can you do that for $300,000, $350,000? Yes, sir, but let me just add something else to this equation.

My mother died a couple of years ago, and her home has been in limbo for a couple of years. Finally, we're at a point where I can purchase her home for $80,000. And we could live in that home, settle this home, be totally out of debt, and kind of live like no one else today so that we can later on live and give like no one else. So just wondering if you thought it would be a good idea for us to purchase that home, that small home. It's about 1,100 square feet. We're currently living in a 2,400-square-foot home, two people. So are you saying sell this? Donna, are you saying sell this home, get equity turn around take that equity and go

buy your mother's home actually what I was thinking was take the equity and pay off all of our debt and then take out a loan with a mortgage that's what I meant to say it's only $80,000

though but is that a home that you want to stay in? No, no, that's just a temporary thing. That's a sacrifice to get out of debt and to live towards the greater good later. It is. And we don't want, you know, my mother worked very hard for that home. What's the home worth? The home is worth about $80,000.

And you would buy it for $80,000? Yes. Is she living? My mother is deceased. $80,000. And you would buy it for $80,000? Yes. Is she living? My mother is deceased. She died in 2018. Okay. Who's in the home now? No one.

Whose house is it? Well, complicated situation. My mother left a life estate in her home to a friend of hers or a person that she had been with, her partner, for many years. And she left me as secondary if that person decided to leave or whatever the case may be, the home would go to me. Who's the owner of the home? Very, very weird situation. I guess it's hard to say.

No, it's not hard to say. The life estate is not the owner. The life estate is access to the property as long as he lives. So then that would be me. As long as he lives or if he wanted to leave the home. Okay, is the home paid for? It is not. What is owed on it?

It has about $30,000 owed on it. And you're supposed to pay that bill? I have to purchase the home because the way my mother wrote this whole thing up in the will, this person is entitled to a portion of the sale of the home. He agreed that the home could be sold. We both agreed. Oh, just sell it. Just sell it and take the money.

Sell it and take the money. Yeah. Give him his cut. You move on. Because then that's more money going into your pocket rather than if it's only, if you owe $30,000. It's $50,000. How much is his part?

Yeah. Well, see, that's what we don't know. Once it's sold and once, you know, the $30,000 has to be paid to the bank and there are some lawyer fees that have to be paid. Okay. We don't think there will be much left over. Is there supposed to be split 50-50? It's supposed to be split 50-50. Okay, so here's the deal.

80 minus 30 is $50,000. You don't have $50,000 in legal fees and expenses to sell it. Sure don't. No, it's about $10,000. Okay, so there's going to be 40 grand. So that's going to be 20 in your pocket. Yeah. Right.

Okay, take that. Take that. Use that to pay off your debt. And I would sit in this home until you clear your debt. How much debt have you got, did you say? Oh, okay. Well, we have about $80,000 worth of debt. I would either sit in this house or I'd go ahead and start talking about selling this house,

renting for a little while somewhere while you build the other house. Yeah. Okay. I agree with you, Dave. I'd go ahead and start moving to the country. Because here's the thing. You're a $315,000 house. If you move in a three to a 350, you're not calling me up going, I want to go.

My dream house is just one level in the country. It's not 750 grand. It's about what you already have. Right. Right. And so if you want to swap this one for that one, it doesn't set you back. No. You see what I'm saying?

Yes, sir. Yeah. so i'd sell mama's house and i'd either sit in this house while you get debt free or i'd go ahead and sell it and rent while you get debt free and then i'd be planning to buy a little farm and put my one level house on it and tell your husband thank you for his service to the country by the way i'm sitting i'm sitting still because i'll take that 20 000 i go down go down to $60,000, making $120,000. We could be debt-free in two years. There you go. And then just sit in this house.

Just sit in this house. But you've got to sell it when you get ready to build the other one anyway. Yes. And then you've got profit right there. You could go rent for three years. Could be. Or two years. It wouldn't be bad.

No issue. It's a step because you're going to have to move out of it anyway, get it sold, and have that money to build the one level later. But, yeah, I'm not going to mess with Mama's house. That sounds like a nightmare. There's so many cooks in that kitchen. That just did not sound like fun to me. Bob's in Fort Lauderdale. Hey, Bob, how are you?

I'm doing fabulous. How are you guys doing? Better than I deserve. How can I help? Well, I've got a weird dilemma. I am retired, but I have a very sweet part-time job. And that part-time job takes me on the road for about 1,000 miles a week. And my car is about getting close to the end of its life.

So I'm wrestling in my mind whether to buy a new car lease a new car or just rent a car on the two days that i'm out on the road okay leasing is out the option leasing is not a good option because then you're going to run the mileage up over and it's going to blow up the deal it's going to make it not here's the thing when you put that many miles on a car, all of us can agree it's going to go down in value very, very quickly. Agreed? Probably in about a month. Yeah, for real. So if you lease a car, they're not going to lose money on the lease.

They're not stupid. So the lease is structured in such a way that if you do something to the car that causes it to lose that much value like put miles on it or more than normal wear and tear it affects what you get when you turn it in because they're going to hammer you with being over on your miles and the lease is not going to work in other words you're going to pay for the lost value in the lease a hundred percent of the time So that doesn't work. The renting a car might work if you catch one of the rent-a-car people where they're not doing their math well. But in theory, they're going to put some kind of limitation on you to keep you from doing to their car what you were doing to yours, which is destroy its value.

Right? So what you're saying is they'll probably're saying is you're not going to hide the shit you're not going to hide the p it's under one of the shells okay that usually now again you might catch a rental car company that didn't put some kind of limitation on you since it's two days a week and this is probably you're probably not doing this for 10 years or something uh but but what i what you're probably you're probably your cheapest mathematical option is to buy an inexpensive car, $10,000 or so, that you just used for this because you're destroying this old Honda Accord's value or this old Maxima's value or Impala's value or Focus's value.

Not Focus. You don't want to spend that much time on a Focus. But, you know, whatever. But, I mean, something medium-sized that's reasonably comfortable. But you're just knowing that you're wearing this thing out. It's a cost of doing business. And that's probably what you're going to end up doing. Thank you. Our scripture of the day, Romans 15, 4, for whatever was written in former days, was written for our instruction, that through endurance and through the encouragement of the scriptures, we might have hope the difference

between the impossible and the possible lies in a man's determination tommy lasorda said oh very interesting eric is with us in orlando hi eric welcome to the dave ramsey show hi mr ramsey how are you better Better than I deserve, sir. How can we help? So I got a lawsuit from my credit card for nonpayments, and I spoke to a lawyer who advised that I file for bankruptcy, and I wasn't sure if that was my only option. You talked to a bankruptcy lawyer? Yes. Yeah, well, asking a bankruptcy lawyer if you're bankrupt

is like asking a dog if it's hungry. Yeah. How much is the lawsuit, Eric? $12,000. What do you make? Less than $10,000. Why? I'm working two part-time jobs.

One's like $8 an hour, and the other's $12 an hour. You're not working them much. Yeah. How old are you, Eric? 31. Yeah. What's wrong? What's happened with you, brother?

Sounds like you've been kicked around. How come you don't have a full-time job, Eric? Well, after college I applied, but I didn't have any help. And I lost my last job with the pandemic. Okay. What was your last job, sir? I was busing tables at Olive Garden. Okay.

And you're 31? Yes. What did you go to school for? Creative Garden. Okay. And you're 31? Yes. What did you go to school for? Creative writing. Okay. And do you live with your mom and dad? No, I live with roommates here in Florida. Okay. All right. And you have $12,000 on a credit card. How much other debt do you have, sir? Including the $12,000, it's $20,000 in debt.

What is the other eight? Mostly medical bills. Okay. What kind of medical problems have you had? Nothing major. I just had like ER visits okay okay let me tell you what I'm hearing and you tell me if I'm wrong okay

I hear that you have a pretty extreme income problem meaning you don't make any money at all hardly I hear that you have a pretty extreme income problem, meaning you don't make any money at all, hardly. And that's not a put-down. It's just where you are right now, and meaning that that is more of a problem than the debt is. In other words, if we could double your income today, I can't, but let's just pretend I could wave a wand and double your income, then we could address this debt very quickly because you figured out a way to make

it on nothing. You figured out a way to make it on $10,000. And if you had another $10,000 a year coming in, you'd be able to pay this off real quickly, couldn't you? Yes. Okay. And you're living below the poverty level. And so income is our question.

What do you feel like is holding you back on your career? I'm just trying to get my foot in the door, I suppose. Okay. All right. I'll tell you what. I don't think you're bankrupt. Right. I think you have a career crisis.

Yeah. And the credit card company, even if they sued you, there's not anything they can get. Because you don't have an income that they can get a hold of. And you don't have anything in your bank account that they can get a hold of. And you don't have any assets. And so you're what we in that world call judgment-proof. And so, sir, I think what you have more than anything else is I think we've got to do something to get your career going and get your income up.

And so if you do that, I think very, very, very quickly you would be able to solve this problem. Do you have a car? Yes, I do. Okay. What year is it, man? 2004. Okay. I think I would be delivering pizzas five nights a week or six nights a week if I were you.

If you were doing that, the people that we work with around the country that we're doing that are making $1,500 a month, which is $18,000 a year. If you did that on top of your income now, that would almost triple your income, and you'd be able to dramatically impact this. The bad news is you don't make much money. The good news is a little bit of a move will greatly impact your situation and so we've got to get working on the income side of your equation because even if we waived one and you had no debt today you've still got a mess because of your income would you agree with me on that

yes okay eric um you're in orlando florida and you have a very reliable car any reason why you haven't tried Uber? Because the average Uber is making in between $600 to $1,200 a week. So have you tried that? Especially with Orlando being a very busy city and they're open? That's something I can look forward or look into. Currently, I'm working two jobs, and I've been getting like I'm doing 15-hour days, working almost over 50 hours. But you're not making any money.

So it might be that one of those jobs needs to trade out for a better job. Absolutely. Or both of them need to trade out for better jobs. I'm not sure. So here's what we're going to do. We're going to help you, okay? Number one, I'm going to put you into ramsey plus for a year uh which includes all of the financial peace university and the every dollar budgeting app to help you with your money but that's not your issue number two i'm going to connect you up with ken coleman

and um kelly just have uh ken call eric offline and and offline and give him 20 minutes as a favor to me. Ken, Eric is our career specialist here. He has the Ken Coleman Show. It's on 65 radio stations around America, and he helps people with their careers. Yeah. And I'm also going to send you his book to read, The Proximity Principle, and see if we can't help you do something. And it could be in the Vo-Tech world.

It doesn't have to be fancy. And it doesn't have to be that you get a Ph.D. and a degree to go do something. We've just got to get you thinking differently about your income side because I think, honey, that's where you're struggling. Yeah. As a matter of fact, I know that's where you're struggling. And so you could file bankruptcy if you want to, but it's not going to solve your problem. And you will regret it down the road. And you'll still be right back there in no time because you don't have an income.

Yeah. And that's what's going to get you. Eric, I really want you to look into Uber right now. Yeah, and or delivering pizzas. I don't know. What is their limitation on a 2004 car? Is it limited? No, it just can't be no older than I think it's 15 years.

Okay. Well, that would be 16. Will it be 16? Yeah. Okay. Yeah, I got to count. I'm sorry. Help you with your math here, financial guy.

Thank you, Dave. But, yeah, i don't know i don't i don't know what that but even if you didn't even if you did lift i don't know what the limitations are on all that but the bottom line is you can rake leaves man and make more than you're making right now yes not on shovel sand you're in orlando but um yeah i don't know there's there's lots of things you'll be able to do you hold on we're going to try to help you eric because i think you're not bankrupt honey i think you're just scared you you'll be able to do. You hold on. We're going to try to help you, Eric, because I think you're not bankrupt, honey. I think you're just scared.

You don't know what to do. And we'll come around, put our arms around you, and see if we can help you get this thing moving. Hold on. Ms. Kelly will pick up for you. There's two sides to the equation, folks, the income side and the outgo side. Some of you don't have to do Uber or pizzas. Some of you have at your fingertip fingertips um a small business idea that you could just start yeah but as long as there are leaf blowers at

home depot there are rich people who are afraid of leaves you got a job somewhere folks so there's something you can do somewhere there's pressure washing that needs to be done there's something you'd be amazed at what you can dream up to make money. Yeah. And start your little small business idea and get all that going. Thanks, Anthony. Hey, thank you, Dave. Appreciate you.

James Childs and Kelly Daniel in the booth. I am Dave Ramsey. 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, it's Kelly, associate producer and phone screener for The Dave Ramsey Show. If you would like to do your debt-free scream live on the show, make sure you visit DaveRamsey.com slash show and register. We would love for you to come to Nashville and tell Dave your story.