The Ramsey Show - App - Jose Inherited Family Business Debt (Hour 1)

Episode Date: October 15, 2018

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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. Thank you for joining us, America. We're glad you're here. Open phones this hour as we talk about your life and your money. It's a free call at 888-825-5225.

I want to say thank you to the fine people in Kansas City. Man, you guys turned out. We had a complete sellout smart conference there this weekend. Over 6,000 people in the auditorium. And you were rocking. You were having fun. We were having fun. were having fun we were um man the speakers were on fire everybody all the ramsey personalities all the other

ramsey friends that were part of this thing it was unbelievable the band was on everybody was on their a-game including the audience it was an absolute blast and local kansas city policeman was assigned to watch over me as if the freaking Rolling Stones are back there or something. They're not. But anyway, they put a cop on me. So he and I get to hang out together all day long. I get to know him. He paid off $52,000 in debt listening to our show on KCMO there in Kansas City.

And so plus I sit in the audience and listen to the speakers. And so he had to, too. He got to, too. So it worked out good. So even Tristan had a good day. Officer Tristan, I guess I should say. So thank you guys. We appreciate all of you.

It's absolutely incredible. Wonderful day. And Kansas City has always been awfully good to us. And we appreciate you. and we're honored to get to serve you and be with you and the massive numbers of you that were there was just over the top. Lee is with us in Chicago to start off this hour. Hi Lee, welcome to the Dave Ramsey Show. Leah. Hi Dave Ramsey, how are you doing? Better than I deserve. How can I help? Okay, so my husband and I, we started, we did the Financial Peace University a few years ago when we first got married.

And it's just until now we're ready to, like, buckle down and actually get started. We're on baby step.5, which is getting current on all of our bills. My husband is a post-worker, but he hurt himself for a little bit, so we had no income. But now he's back at work and everything, and we're just getting caught up on bills. But while we're doing that, I was writing down my debt. And every time I write it down, the number keeps changing.

I will go check my credit report. I will write down everything that I see there. And then I'll get something in the mail. And then I'll get an email. And I don't know how do I find out my true amount and who all I owe. I can't seem to figure that out. You owe people you don't know you owe? Exactly.

How? How could you owe someone that you didn't know you owed? Well, it's... Old and you forgot it? It's old. I've forgotten. I'm not organized. I'm not an organized person. I'm starting to get organized. How old are you? I've forgotten. I'm not organized. I'm not an organized person. I'm starting to get organized, but I have to. How old are you?

I'm 29. Okay. So some of these debts might be like eight or nine years old even. It may be, yes. Okay. All right. Well, the super, super old ones will find you. You may not be able to find them, but they'll come around and find you eventually.

The ones that you know what they are and you know where they are, you can talk to them on the phone and get a balance. Okay. And you can get pretty close that way unless you've got $100,000 in old stuff you forgot about, which would be kind of hard to grasp psychologically, but possibly you did. I mean, possibly there's something there. But I wouldn't worry about having all of that exact. What I would do is just get the things that you are sure of,

and those are things that are top of mind for you. You could recall. You certainly know if you have a car payment or if you don't. You certainly know if you've got a credit card that's current or you don't. You know about those. So let's just start with the things we know and get active balances on all of those. And just call the bank in each case. Call whoever the lender is in each case and get them to give it to you verbally over the phone.

And the purpose of that is just to help you start doing some calculations into the future so your hope comes back, right? Right. Okay, so why did you guys not start two years ago? Why have you been screwing off for two years after you went through the glass? We couldn't afford to. Couldn't afford to? No. For two years?

My husband was literally bringing home, well, yeah, he lost, he was fired from one job. And then he lost another, he was fired from two jobs. But before then, when we started Financial Peace, he was only bringing in about $500. And our debt, our bills, we were living hand to mouth. Robbing Peter to pay Paul. And, yeah. But now my husband's working for the post office.

And we have three children. My oldest is four. But I can do an app-based job. Have you heard of those, like Uber Eats or stuff like that? I do an app-based job just to kind of push us forward and help us. Okay, let's do this, too. You guys need to go back to Financial Peace University because you flunked. There was no thing in the class that said you have to have a certain amount of money to start managing money well you have to

start managing the money that you have well and so we couldn't afford to is not a good reason what that tells me is you were just overwhelmed irresponsible and didn't want to deal with it and now you're now you're being responsible now you've got some jobs and now you're ready to be grown up and get after this so so I'll help you again. Okay? But this time, even if there's not enough money coming in to pay your bills, that does not equal I can't afford to do this. That's not a true statement.

A true statement is I can't afford to take care of everything, so I'm going to take care of the most important things first, and I'm going to manage those until I get those managed, and then I'll get a little more money, I'll go to the next thing, a little more money, I'll go to the next thing. And it'll give you a real good picture of what your income needs to be to not only survive but to get out of this mess. So we'll sign you up for another year in Financial Peace University,

a one-year membership, and it'll put you in the nine class lessons again, and you'll have one-year access to all the online and the EveryDollar app tied to your bank online. It's about $400 worth of stuff I just gave you. Now, this time, you have to do it, and no copping out this time. No excuses. You call me if you're struggling, if you're scared or overwhelmed, you don't know how to do it.

You call me or you call someone here at Ramsey, and we will walk you through this. But there is no such thing of I don't make enough money to manage money. That is not ever a true statement, folks. So you manage the money that you have well. And you know what ends up happening, guys, for all of you out there? I've been there too where you didn't even have enough coming in to pay your current bills right so you have to decide which who's not going to get paid you have to draw that line on the page and where the money runs out you

ever drawn that line and then the people call up that are below the line and they go are you going to pay us no you're below the line what line well draw a line where my money runs out, and you're below the line. And the kid's eating is above the line, and you're below the line. And you're mainly below the line because you were nasty every time you call, and if you keep being nasty every time you call, you're going to stay below the line until that line just disappears. Because that's kind of how I decide who's below the line. See, I get to control the money that comes into my house. You don't, Mr. Phone Caller.

Now you hear a dial tone. You hear how this works? It's how you deal with the collectors and the process, because you've got to prioritize your life when things are upside down and manage your way out of it. So we'll help you with this. You hold on. Kelly will get you signed up again.

This is the Dave time to buy life insurance? My answer is typically now. Life insurance is not part of the baby steps because it's needed when your family has debt and not enough savings to provide for their financial needs. That's when they're at the highest risk. And no matter where you are in your baby steps, it's a necessity, not a choice. This includes working husbands and wives, as well as stay-at-home parents. It's pretty expensive to replace those stay-at-home parent responsibilities. I only recommend term life insurance since it's the most affordable way to get the right amount of coverage and not break your budget. Go to Zander.com or call 800-356-4282. These are the guys I personally use.

Term life insurance is inexpensive and your family needs this no matter where you are in us, America. Jose's with us in Phoenix, Arizona. Hi, Jose. How are you? How are you doing, Mr. Ramsey? Thank you for taking my phone call. Sure. What's up? Yeah, so I took over the family business, and this was about two years ago. And I took over it for my dad. Unfortunately, he had passed away two years ago.

And, you know, I've helped him. I'm 26 years old, by the way. I've helped him out since he started. I mean, we started with nothing. I've seen him grind, and I've also put in my own help him out, and we started with absolutely nothing. So my dad was definitely ambitious and definitely very goal-oriented. And so we started with nothing, and then I just, since 2012,

and we ended up, you know, he ended up building a family business, a furniture, it's a furniture and manager store. And we, you know, I was always helping him, but not into that extent of really managing the place. And since he passed away, I decided to, you know, be the, be the man and, you know, step up to the plate. Um, but, you know, recently, you know, I, I, I guess because, uh, I try not to, uh, worry anybody, worry my family. We're a small family, my mom and my sister. And, and, uh, uh, I have my girlfriend who I'm really close with, and

I need help. Yeah, I bet. Yeah. I bet. So what is your top line? What's this business running in gross revenues? So total what we did for last year was $488,000. How many employees do you have?

I have one right now currently. Okay. So you're there all the time? I'm here every day, sir. Yeah, I know. Yeah, I can tell. You're the CEO, the Chief Everything Officer. Yeah.

You've got broad shoulders, young man. Proud of you. Yeah. So how much debt did this come along with? So there's things along the way that I'm learning as I go. And so that's what we made as far as total. How much debt do you have? A total debt?

I would say probably around $70,000, $80,000. Okay. And whose name is that in? Me. You took out the debt since he died? No, I created the debt debt since he died no i i created the debt since he died yes so it had no debt when he died um it had some but not not to that not no not not to that and who do you owe seventy thousand dollars to so um i'm always um i'm behind bills and Who do you owe $70,000 to?

So let me break it down. I owe $20,000 to my friend, a really close friend. I took out a cash advance. I don't know why, but I took out a cash advance. That was right now, it's about, uh, 28. I owe 28 on it. And then, um. Thousand?

Yeah, 28,000, sir. And then, um, my landlord, which is really close, really close friends with my dad, uh, I owe him, um, backed up rent, which adds up to the rest. Okay. All right. So what this tells me is that you are disorganized with the finances of the business. Yes, sir. And you are just running.

You're trying to outrun everything. Yeah. And you get out of breath doing that, and you hit the wall. Yeah. And then when you can't make payroll Friday, you panic and borrow money in some stupid butt way like a cash advance. That's correct, sir, yes. Or you don't pay your rent. That's correct, sir.

And those are catching up with you now and tackling you from behind. Do you think you're making a profit? If I didn't have this debt, I... No, no, no, no, no, no. I'm saying when you open up at the beginning of the month, you're running about $50,000 a month in gross revenues, a little less. Mm-hmm. Okay? And you have one employee, and you haven't paid your rent.

On the mattresses that you're selling, are you making a profit? Yes, sir. Are you sure? I'm just... You're not doing a P&L. I'm just doing a bad job in managing the money. Well, you just don't know what to do. You're 26 and this got dumped on you.

Yeah. It doesn't make you a bad guy. You're doing all you can do with what you do, so you need some help bad. Yeah. All right. Let me give you three things to do immediately. All right. One is we have to get a profit and loss statement on the business so you can tell if you're making a profit

and begin to figure out what items you're selling that are making the most profit so you can accentuate the sales of those. Okay, let's find the sweet spot in this money and let's milk it. Okay. Okay, but you need some help putting together a set of books. You don't even have a set of books. So go to DaveRamsey.com and click on ELP for taxes and the tax people that do tax preparing, our ELPs also will help small businesses get their books together. And you need to sit down with them and get you a set of books built out.

It shouldn't cost you but a couple hundred dollars. But what you've got to do is you've got to get really organized and decide what's going to get paid first, what's going to get paid second, what's going to get paid third, and then stick to that, because you should never be behind on your rent. It's going to put you out of business. Correct, sir, yes. Okay. And you should never be behind on your payroll or your payroll taxes.

Have you been paying your payroll taxes? Yes, I've been trying my best to keep up with those, yes. I'm trying your best, but did you pay them? Yes, yes. Okay, good. Yeah, I try not to be in jeopardy with that. Let me tell you, the rent and those taxes will put you out of business faster than anything else will. And these are the things that are scaring me right now.

Okay. Do you know anyone in your church or in your community that is a small business owner of high character, that when you think of their face, you think of integrity? Yes, I do have somebody in mind. Okay. Have breakfast with them and ask them to help you. Okay. Okay?

Not to do anything, but just to give you advice. Okay. Would you have breakfast with me once every two weeks? I'll buy. And I just need some help from a wiser, older entrepreneur because I'm a brand new guy. Got this thing dumped on me, and I'm not afraid of hard work, and I'm honest, and I'm going to work my way out of this, but I need some help. Okay? Okay.

And the third thing we're going to do is we're going to put you in with our coaches online in Entree Leadership All Access. All Access is $3,000 a year to be in that, and it gives you everything you need to know to operate a small business. You are going to go through the first year as my gift. Thank you. Okay. Because you need somebody to walk with you, and we're going to walk with you. Yeah, and I feel like I've just been doing everything myself. You've been guessing.

Yeah. And you thought hard work was all it took. And hard work is a big part of the ingredients, and being honest is another part of the ingredients. But you can work yourself into a corner, and you just about have. Yeah. And it's about to catch up with you. You've got about three more months, and you're going to hit the wall, and this thing's going to be closed if you don't change some of these habits.

And not because you're a bad guy, and not because you were lazy or irresponsible. You just didn't know what to do, and you're missing some big, gaping things in the basic operation of a business, and I'm going to help you change that, all right? Me and your local mentor that I just assigned to you, and you get a tax guy in your corner, and you tell them, I sent you personally, and they're going to help you with your P&L. And you've got to put together a P&L. You've got to get your money straightened out and start prioritizing this stuff and then go from there.

So you hold on, and I'll have Kelly pick up. And, Jose, you call me back. I want to hear how you're doing. I just gave you $3,000, so I want to hear that it worked. So you call me back, and I want to hear how you're doing. All right, I just gave you $3,000, so I want to hear that it worked. So you call me back, and I want to hear how you're doing, and you've got questions as you're going along about business. You call me back, and I'll help, and Kelly's going to get you signed up for that. And Kelly also shipped him an Entrez Leadership book,

so he can read our playbook on how to run a business. And he can turn this around. But you've got to have people in your corner, man. When you're 26 and your dad dies, you've got to have people in your corner, man. When you're 26 and your dad dies, you've got to have people in your corner. You've got to have people to help you. And that doesn't make you weak, and it doesn't make you dumb, and it doesn't make you a bad guy. I'm 58.

I'm old and grizzled and been through a whole lot of stuff, and I still need people in my corner. And if I do, you certainly do. So you've got to have people in your corner and if i do you certainly do so you got to have people in your corner you're gonna have people that lift you out of the water when you can't swim anymore henry clabber was just talking about that at smart conference this weekend the power of the other you can do this jose you got the right stuff we'll give you the tools we're gonna put a few more tools in your tool belt man then, and you're going to be ready to build. You're going to be okay. You're going to end up honoring your dad's legacy here together. This is The Dave Ramsey Show. We'll be right back. In the lobby of Ramsey Solutions, Brayden is with us.

Hey, Brayden, how are you? I am better than I deserve, Dave. How are you? Just the same, sir. Where do you live? I live in San Antonio, Texas. All right. Very cool. Welcome to Nashville. You've got your Hook'em Horns hat on. Yes, sir. We're doing very good this year. Yeah, you've had a good year.

Did y'all win Saturday? I missed it. Yes, we did. Good. Good. Who'd you beat? Baylor. Oh, yeah.

That's always fun. Yeah. Okay. Good for you, man. And all the way to Nashville to do a debt-free scream. Yes. Very, very cool. So, how much have you paid off?

Paid off $19,412.90. $19,400. And how long did this take? 20 months. 20 months. And your range of income during that time? When I first started doing this, there's a little bit of a back story that I really kind of need to tell you to kind of really fully understand where I am today. Back in 2004, I went through a divorce. And at that

time, I was going through a career change to where the only income I had was a paid internship, where I was making $10,000 that year. And still needed to finish my degree. I had one year left. Part of the agreement was that the house would be refinanced and I would get half the equity out of the house where I could utilize that to live off of and to finish my degree. So that happened. Graduated. Unfortunately, right before I graduated,

I had an issue, uh, dealing with, uh, my custody and I actually had to go back and take my ex-wife to, uh, court again because she was not honoring the visitation. So, um, kind of had a cash flow, all that. Uh, once that was settled, um, by that time I had landed my, um, uh, job and my job in my chosen career field that I have now. I got a real big day of pay and pump, a big pump in pay. And then renegotiated the whole child support, and that's when I basically started the whole debt snowball. Okay.

And that was back in September of 2016. Gotcha. So in that 20 back in September of 2016. Gotcha. So in that 20-month period of time, what was your range of income? That particular point, it was roughly in the low 40s. What do you do for a living? I work as a GIS analyst. Okay.

And that's what you got your degree in? Yes, sir. Okay, cool. And what kind of debt was the $19,000? It was a student loan for about $13, cool. And what kind of debt was the $19,000? It was a student loan for about $13,600. And then through the mitigation of taking my ex back to court, I had back child support and back medical support of $5,800. You had to get all that cleaned up as well. Yes, sir. Wow, wow.

And so you're on top of the whole thing now. Yes. How does that cleaned up as well. Yes, sir. Wow, wow. And so you're on top of the whole thing now. Yes, I am. How does that feel? Absolutely freeing. I mean, the first time in like a decade, you're on the top side of something here. Whenever I got my divorce at that particular time, it's probably even the lowest I've ever been personally. Oh, I can imagine. There's no motivation like desperation.

Yeah, exactly. It'll move your butt. You're exactly right. Get out of the road! A car's coming! That is right. It'll move you. That's right.

I understand. Oh, man. You have been through it, brother. Sure. You have been through it. The good news is you are standing on top. Yes, sir. You're above ground for the first time in a while here.

Yes. On solid ground. You're above ground for the first time in a while here. Yes. On solid ground. How does it feel? I know from whatever foundation I build right now is the solid rock that I can build my life on. Amen. Yeah, you're on real solid ground right now. Yes, sir. You really are.

It's compacted. That's how we know it's solid. Yes, sir. Very good. Good for you. Yeah, you're in a really, really good place. It may not feel like the numbers are that great, but I've seen people go from where you are to big stuff. So you're in a good place.

Very good. Good for you. What do you tell people the key to getting out of debt is? I say there's three things you need to do. You need to have what I call BVG. First one is believe. You have to believe to be able to do you need to have what's what i call bvg uh first one is uh believe you have to believe be able to do it and for me um beyond just believing i had to forgive myself of my past mistakes before i could actually begin the belief you believe you're worthy that way that is correct yes yeah that's right the other one is called vision um you know you got to know where you're going to go, where you want to be, where you're going to head towards. I think Steve Covey says in his book, Seven Habits of Highly Effective

People, you got to have the right roadmap. Then your motivation, all the effort then comes into play. Right. Right. And the last one is grit. You got to be able to bear the difficult part that you have to do in your life in order to achieve those particular goals. Amen. Amen. Well, this puts you in a great place. How old are your kids? My oldest one is 21.

My youngest one is 13. Okay. Three girls. Very cool. Good. Good. Excellent. Way to go.

What is your T-shirt? See, I can't read it from here. It says, my girlfriend thinks i'm a unicorn what does this mean because you're debt free so uh that's as rare as a unicorn what's that or you got something to do with something else so my uh my girlfriend we started uh dating almost a little bit over a year ago we actually um our first date was the day after my birthday. And so roughly, and that was October 13th. And then that following February, we were still going and we exchanged gifts for Valentine's Day.

And she gave me a little small unicorn as a gift for Valentine's Day. And what she said to me was, is that, you know, I never, I didn't never thought people like you existed, me, uh, a man who, who stands by his word, who loves the Lord and, um, is willing to commit to somebody for the rest of their lives. And add to that, he's debt free. That makes him really rare. Believe it or not, the one week after we first met, we sat down and did her money. Oh, all right. You were game on.

Yes, sir. Well, good job. Well done, sir. I'm proud of you. Who was your biggest cheerleader other than your girlfriend? My extended family, I owe a big tribute to my mother, my father, my Aunt Carol, and my Uncle Kent. Without having that support and that backup, I probably would not be here today. How did you plug into us?

Well, that's an interesting story. So back in 2006 when I was married, i did experience being debt-free at one particular point in my life um my ex at that time was working and then lost her job um my father and her mother uh combined some money together and gave it to us and um basically we were paid off all our consumer debt unfortunately i was so arrogant at that time i didn't really know what to do with myself and didn't have a plan, and we wanted ourselves back into debt. And my mom sent us free tickets to a live show to your event. Okay, cool. Well, we've got a copy of Chris Hogan's book for you, Retire Inspired.

And that is, of course, the next chapter in your story. We've gone through this chapter, the money piece anyway. And that gets you out of debt. And the next chapter is Be Millionaire. And you're on your way for that. I'm proud of you. Thank you. Well done.

Well done, sir. You persevered. Yes, sir. That's what it takes. You're a strong backbone. You made it happen. I'm proud of you. All right.

It's Braden in San Antonio, Texas. $19,400 paid off in 20 months. $1,000 a month, making $40 a year. Quite a story. Count it down. Let's hear a debt-free scream. Three, two, one. I am debt-free!

Love it! Oh, man. Wow. Ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, And the debt is never the problem. It's the symptom. And paying off this $19,000 is not the victory here. It's the symptom. It's the tip of the spear of the victory. It's the reason he got to be on the show and do a debt-free screen. But the real victory is what all this crap he has waded through and gotten back on top of his life in every sense of the word. It's very, very cool. The 19,000 and the debt-free screen meant more than just 19,000.

That's my point. You guys are following this. You're tracking with me. This is the Dave Ramsey Show. We'll be right back. Cassandra is in Raleigh, North Carolina. Welcome to the Dave Ramsey Show, Cassandra. Hi, thank you so much for accepting our call. We really appreciate it. Thank you. How can I help?

So we are in quite a situation. We are transitioning out of the military, and we are using my husband's terminal leave. We already got a job set up for a police officer job, and so we're going to be getting terminal leave pay plus his new income. Great. And we are under contract to close tomorrow. And we are trying contract to close tomorrow. And we are trying to decide if we should back out and rent and complete the baby steps,

or if we should see how it goes for a year and then decide what to do. Well, I'm very positive there is a correlation between integrity and success. And so I would never tell someone to break their word. You've given your word. You signed a contract. So you need to follow through on your contract. And you notice I don't even know what the numbers are. But it may be a bad idea. It may be a dumb idea.

But unless the seller voluntarily at the last minute wants to let you go for some reason and you you know ask and say would y'all let us out that's one thing but probably the answer is no i mean they're expecting to close tomorrow right right would you want to be on the other side of this transaction no okay then close then close you signed a contract yeah yeah you closed you signed a contract you said you were going to buy this house i don't even know if you can afford it it sounds like you're doing it out of order you should have been out of debt you should have had your emergency fund in place you should have done these other things but you need to keep your word you gave your word and that's the first thing that comes up hey thanks for the call lindley

is with us in Knoxville. Hi, Lindley. How are you? Hi, I'm good. How are you? Better than I deserve. What's up? Yeah, I have a question.

My uncle shared with me recently that he named me as the executor in his will. I've never seen that will, but I'm interested and would like to know what it says so I make sure I fully understand his wishes after he passes. So my question is, is it appropriate to ask to see that will, and do you have any suggestions on how I would start that conversation? It's more than appropriate. As a matter of fact, it's just flat-out strange he made you the executive without first talking to you.

That's like weird. I thought so. Yeah. Yeah, I thought so too. That's very presumptive, to say the least. So let's restart the conversation, Unc. I didn't sign up for this, and I am willing to consider helping you in this way. And I think you thought you were honoring me with this, and I appreciate the honor, I think.

But there's a couple of things that are going to go along with me agreeing to be your executor. Otherwise, I can't be your executor. Number one is I have to know what every detail of your situation is. And that includes reading the will and understanding the will and going over it with your lawyer. Number two is all of those affected by the will have to be informed before your death what the will says. Because I am not going to implement stuff that i get blamed for and everybody's pissed at me and it was you that did it you follow me absolutely yeah because you're going to have like your cousins or whoever it is that he's asking you to

not give money to that thinks they're getting money they're not going to be mad at him he's dead they're going to be mad at you and all you are allowed to do by law is exactly what the will says and yet you're going to get all the relational blame and all the emotional blame and i'm not setting myself up for that no way we are going to have a live reading of the will with the parties that are involved they're all going to know what it says. And if Junior Boy is getting cut out because he's doing heroin, we need to go ahead and tell him while he's alive he gets no money, while Unc's still alive.

If he won't do that and he won't let you see everything in advance, just say, honey, I understand. You don't have to do that. It's your stuff. But you need to take me off of the executorship because those are my terms for serving as executor does that sound unreasonable to you not at all i i appreciate that's how i was feeling as well so i appreciate you confirming that yeah that's exactly what i would do and by the way if he won't take you off as soon as he dies you step before the judge and

say i refuse it i'm not going to take it i told him while he's alive i'm not going to do it i'm not going to do it after he died don't get guilted into it okay thanks for the call open phones at 888-825-5225 by the way folks that little exercise right there is really good for all of you go ahead and tell everybody this is what you're going to get this is what you're not going to get little suzy gets the china cabinet little george gets the gun collection i don't care what it is go ahead and tell everybody and that way they're going daddy told me one time on the back porch i don't hear all that crap it needs to be in the will and everybody needs to know what's going on daddy told me on the back porch does not stand up in court and so you're going to have people angry and you

might as well go ahead and just go this is what we're doing no need to be angry it's my stuff i get to do with it what i want to do with it i'm managing it for god i'm going to give it to you to manage for god and this is how this works and be real clear everyone should do that you should always have see this idea of we have a reading of the will, and it's almost like a movie scene. The third wife, the trophy wife, is in the study. The dysfunctional son is in the study. The responsible daughter is in the study. You know these movie scenes.

You've seen them. They're set up for several bad movies that are out there. And then the walnut-lined office of the attorney, and the attorney begins to read the will, and it always has strange and eccentric stipulations in it in every movie, right? But this is the first time anyone knew what the old man had to do with his will or the old woman had to do with their will. No, that's dysfunctional crap.

Go ahead and tell everybody in the will what their deal is. We do it around here. We have a meeting every year to cover what happens if Dave dies this year. It's a glorious meeting. Everybody likes it but me. Mike's in Oklahoma. Mike, what's up in your world? Let's see, about three foot of water and it's rising.

Oh, my Lord. Okay. Okay. Okay. Backstory. Quit a job after they gave me a $3,000 a month pay cut. Okay. Um, took an opportunity in West Texas. And now I'm turning in $2,500 worth of tickets and getting $800 in pay.

Had a bathroom renovation that we saved money for, but because of the back pay issue, had to use it for trying to get bills caught up. Renovation went through. And now we're on our way to $1,000 in the hole with the bank. Good news is, other than a broken contract with cell phones to get a cheaper plan, that's all of the debt. But I don't know what to do. Okay, and my wife, you know what we're talking about.

Okay, wait a minute. Stop. I got to rewind just a second. You've not been paid all that you're owed by the new company? Correct. And how long are you going to stay there? I plan on bailing on Thursday when I know the next deposit is pending. I always know 24 hours in advance when the next deposit is pending.

I know what it is. All right, so what are you going to do when you quit there thursday i've got four freaking companies right now wanting me for an interview okay good we'll go talk to them i am not i am not worried about uh i i've got one uh okay so who is the thousand dollars owed to the bank it's going to be the bank whenever the uh check for the uh well you think it's going to you think? It's going to be the bank whenever the check for the retirement innovation. You think the check's going to clear? You got overdraft protection? You going in debt? I do.

I do have $1,000 overdraft protection. Okay, you're getting rid of that $1,000 in debt then? Yes. Okay, and you're going to clear that up by Christmas? No, I want to say Thanksgiving myself. Well, I'm saying Thanksgiving is before Christmas, so that's by Christmas. I mean, you're going to get two new jobs immediately or three new jobs immediately

because you're sick of being broke because people haven't been paying you. A, you had a $3,000 pay cut, then you took the new deal and didn't get your money there either, so you haven't had a good paycheck in a while. As soon as you start getting good paychecks, you'll be on top of this for the rest of your life, won't you? We are planning on that right now. We're both on the same page. We're just all reading the wrong book. Okay.

Well, I mean, I don't hear a discrepancy. In my mind, you wrote a check. I probably wouldn't have written a check, but you've written it now. You paid the contractor. You're in debt. And $1,000, and you're going to pay that off before Thanksgiving, and you're changing jobs because the last two sucked. I don't see anything to argue about.

And then as soon as we get these jobs and there's other money coming in, you may want to work two jobs for a little while. Because it wouldn't hurt just to pile up a little money around there. When $1,000 causes this much oomph in your gut, your guts are all twisted up about $1,000. That's not a bad thing. It's a good thing. But, I mean, I'd like for it to be $10,000 before it bothers you that much. This is the Dave Ramsey Show.

Hey, guys. This is Blake Thompson, Chief Production Officer for the Dave Ramsey Show. This hour's up, but you'll find more on our YouTube channel, where we have over 6 million YouTube views each month. You can find debt-free screens, millionaire hour clips, Dave Rants, and so much more. Go check it out.