The Ramsey Show - App - Most Americans Go From Payment to Payment... Be Weird! (Hour 2)

Episode Date: April 11, 2024

Live from the headquarters of Ramsey Solutions, it's the Ramsey Show, where we help people build wealth, do work that they love, and create actual, amazing relationships. I'm Dave Ramsey, your host, Rachel Cruz, Ramsey Personality, co-host of the Smart Money Happy Hour on the Ramsey Network, number one best-selling author, and children's book author. New book coming out next week. I'm glad for where I am. She's my co-host today.

Open phones at 888-825-5225. Alexis is in Orlando. Hi, Alexis. Welcome to the Ramsey Show. Hi. Thank is in Orlando. Hi, Alexis. Welcome to the Ramsey Show. Hi. Thank you for taking my call. Sure. What's up?

So I'd love to move out of my parents' house. I was just wondering what I can do to increase my income. Okay. So how much are you making now? After taxes, about $28,000. What do you do? I'm in the wedding industry. What does that mean?

What do you do? I'm planning weddings and also managing a venue. Part-time? No, it's about 40 hours a week. Event planners make more than $28,000. What's wrong? When I'm making it hourly, it's $15 an hour. I think you're underpaid.

Not a lot of stuff going on over at the old wedding chapel, is there? Unfortunately, no. I was going to say, it's probably really busy. Yeah, I think you you're how old are you i'm 29 what did you do before this i was a teacher for um eight years what'd you make doing that pretty much the same sometimes less. Okay. So what would make your voice change and be full of excitement if we were talking about you doing it? That pays $100,000 a year.

That would be nice. I think I'm being a mom. Well, I like what I do. Yeah, I like what I do, right? I like the planning, prepping, and organizing that comes with my job. I think that's in teaching, but it's the void of being in front of a person or a student all day long. So I'm not sure that I've found that niche of what can provide enough income. Because your skill sets, Alexa, I mean, I have a friend and she works in the healthcare industry, but she does the planning for all their events internally for a healthcare company, right?

So I'm like, there are kind of random sectors out there that have positions that have this skill set. But they work. I mean, they work a lot. Yeah, but it could be 40 hours a week, too. I mean, you could literally be working the same amount. I just feel like you're being underpaid. Well, there's nobody coming in the wedding chapel.

They can't afford to pay her. No, there are right you said she said it's boring no it's busy right who wait which one i'm sorry okay i misunderstood i'm like there's less people getting married in the church but there are definitely people getting married um how many how many hours how many hours a week are you sitting there with nothing happening um never then you're then you're dramatically underpaid yeah because an event planner ought to make double what you're making i mean targets paying 20 an hour do you know what i mean i'm like i i yeah so i would be looking for another position and i really think alexis

alexis that yeah i would look around for some type of events coordinator position, even in corporate America. And, again, it may not be what you want to do forever, but at least for a couple of years to make some income to get out of your parents' house. If you want to just take and start back fresh and go all the way at the beginning, I'm going to give you Ken Coleman's Get Clear Career Assessment. I want you to take it. It'll take you about 20 minutes to take it

and then read the results carefully and see if that doesn't something in there doesn't um uh you know tickle your funny bone and cause you to want to go do x or y or z and you may have to go get a certification you may have to go but it may be a completely different industry i kind of have a sense you just fell into this job it It was like I needed to fall out of teaching. Yeah, yeah. So you're running from something versus running to something. And I think if you have a good game plan to say, hey, here's some other options out there for me, I think would, yeah, give you a lot of freedom start being very goal oriented towards something rather than just you know sitting in the in neutral and letting all these things happen to you and so you say

okay what do i want to be what does alexis want to be doing when she's 39 that makes a substantial income and is fulfilling professionally and i i feel good about. I make good money. I'm enjoying the daily work. Those kinds of things. Now, you never do anything that every day is easy. There are some days that suck in anything you do. Okay. I've been doing this radio show for over 32 years and almost every day I love being on the air but i said almost some days i don't feel like being here i think we know i think we know those days everyone's like dave's extra feisty today i'm like i don't know no that just meant i had too much coffee that wasn't because i was miserable i'm not miserable i'm not if i if i'm miserable doing something i don't keep doing it

very long it I change. So that's the entrepreneurial side. So anyway, so what? Yeah, that's what you need to do. And so that's what I would say, Alexis, is you need to aim at something and then pull the trigger. Don't go ready. Aim, aim, aim, aim, aim, aim, aim, fire. And I'll say this, Alexis, that, you know, the next step may not be the absolute perfect dream job scenario.

It may just be, hey, I'm getting in that right direction. It's paying me $20,000 more, which is significantly different. And that's a stepping stone, right? There's a progression there that has to occur. And that gets you out of your parents' house, which was your question. Yeah. So you've got an income problem problem but it's associated with your career not having a clear direction so the get clear career assessment will help you with that

i will pay for it and give it to you for free hang on the line the team will pick it up and get you signed up it's going to work going to work going to work so uh So, there is an energy that occurs. It gives people energy. It gives you, I think it comes from a sense of hope or a sense of destiny. When you spend some time contemplating, thinking, on the back porch with a cup of coffee right or whatever it is you do tea whatever it is you do for that uh your mother would be tea me it would be coffee or something else but so you're thinking about where do i what do i want my life to look like what do i want my career to be what do i want to do and then you don't fall and then you say you start clearly defining that in high definition in HD.

And then you start living in that future state. And you start identifying with the person that you're becoming. And then you start taking the steps. So that's what goal setting does. It energizes you because all goals are our little miniature vision pieces with work clothes on. You know, and you start taking the work clothes and you go put the work boots on and the work gloves and you go to work towards getting your goals. And that all of a sudden, even the energy in your voice changes. This is The Ramsey Show. Rachel Cruz, Ramsey personality, co-host of Smart Money Happy Hour, is my co-host today.

Today's question comes from Margaret in Iowa. She says, my husband has passed away recently and had credit card debt in his name only. Am I responsible to pay that debt the credit card company says his estate is responsible for the debt and they're coming after me for the funds all his properties came to me as we were joint owners of everything am i responsible for paying that debt if not how do i respond to the credit card company? They are correct, Margaret. His estate, which includes all the stuff that was in his name that now you own, yeah, that was responsible for his credit card debt. So yes, you have to pay the debt, not because you're liable for the debt, but because you took the stuff out of the estate, and that was liable for the debt.

So when someone passes away, what they own in their name assets stands good for any death that they have liabilities and when you're married if it's in both of your names then if you want to keep the stuff that had his name on it then uh you have to pay the debt that had his name on it because his estate stands good for his debts. But to take that to a different type scenario, we've had the call over the years many times. My mother, my father passed away living in an apartment with $50,000 worth of student loan or credit card debt and a car loan that on the car that was worth that the loan was more than the car was worth they had absolutely no money am I responsible as the child for that debt no you're not no you're not but you know so you call

them up tell them to come get the car. And the other people, the credit card's just not going to get paid because they died with a negative net worth. But you can't take a $60,000 boat out of the garage that was in mom's name or dad's name and keep it and then not pay the fifty thousand dollars worth of credit card debt right that was in his name and that's in a sense what margaret the position she's in and so what that person when they died own stands good for what they owe we've also had sad calls of a couple calls in and she has you know she has an illness and cancer but she has student loan debt. And we got that call of, hey, should we be paying down the student loan debt?

No. And in that, yeah. But in that scenario, right, student loan debt. Student loan debt is forgiven at death. It's forgiven at death. And that's the, is that the only type, that's the only debt? That's the only one that is. Forgiven.

Yeah. And so, yeah. And it's also forgiven if you're permanently disabled and get SSI. Yeah. So, you know, get your disability approved permanent. So in that case, that's one of the few times you're going to hear me tell you not to pay down student loans. Yeah, yeah, yeah, totally. But if this was not credit card debt but it was student loan debt, then it would be.

Then she would not owe it. Yeah. She would not owe it. It would be forgiven on death. And so it would not. The estate does not stand good for student loan debt. Yes. Federally insured.

Federally insured student loan debt. Right. Not private. Not private debt. But yeah, that's the rule on that process. So thanks a bunch. Open phones at 888-825-5225. Jennifer's in Minneapolis.

Hi, Jennifer. How are you? Hi. Doing well. How are you? Hi, doing well. How are you? Better than I deserve. What's up? So I have a question. My husband and I both live, my husband works at a boarding school. So we live there on campus, you know, rent-free, expenses-free. I'm a sales rep um our combined income is about 150 000 wow we have no debt yes um we have no debt our cars are paid for um you know we just bought our last car in cash and uh contributing a couple hundred dollars a month for each child to education um i did stay at home with my kids for 10 years so we're a little bit behind

in our 401k. I only have about $300,000 in it. But I'm wondering, should we be focusing on buying a house to rent out? One thing I'm worried about is just down the line when my husband, he's a soccer coach there at the boarding school. So down the line, we won't have a house if something happens to his job. That's just a little bit of a concern. Yeah, I would have a mutual fund that is nicknamed the house fund that's not in your retirement, and I'd just be throwing money in it like it was a house payment. Yeah, okay.

And so that someday when you need a house you've got a big pile of money yep okay okay yeah versus going and buying something now jennifer and you guys aren't living in it but you're renting it somebody else and all that yeah that's just an investment that's hard to manage in your situation yeah yeah i would not do that in your situation i would just get a low turnover mutual fund you can talk to one of the smart investor pros at ramsey solutions.com and sit down with them open up an account and i would put you know two three four five six thousand bucks a month into it and just see how big a pile of money we can have you might look up and be a half million

dollars in there in a few years and and uh he changes careers and boom you pay cash for a house you know that that can happen um and that's the same kind of thing we tell folks rachel that are a little different scenario but not much where the pastor is living in a parsonage yep you can get to retirement as a pastor in a parsonage and you you you're homeless you know because you retire and the next pastor is going to be living in the parsonage, and so you've got to go get a house. I talked to a young couple out here the other day. They said their mom and dad are on the mission field for 20 years, and you've got to prepare to come off the mission field.

It's biblical to prepare to do that, to get ready. The same thing if you've been living, this usually for a shorter period of time, but a lot of young couples or even singles living on base in military where, again, housing is furnished, but when you quit that job or that portion of that job, then housing is not furnished. And, whoa, then you get into this whole thing. So, Jennifer, you're very wise to think about that. I wouldn't fret about it, but I'd put in place a basic game plan and say,

hey, I'm going to start paying myself a house payment and see how quick that turns into a million dollars. It does turn into a million dollars pretty quick, by the way. It's pretty incredible. Open phones at 888-825-5225. Jessica is in Sacramento. Hi, Jessica. Hi.

Hey, what's up? Okay, so I have a question. I have kind of have a job, um, offer that's being given to me and I don't know if I should take it. So right now, um, we originally started out with $390,000 in student loan debt. Good Lord. What's your degree in? I have a doctor of pharmacy degree um and it's all my debt and my husband doesn't have any. So what are you making 135? No well right now I make around 180. Oh good. Um and then my new job would basically bring me up to over $200,000. Okay. My husband, or excuse me, I probably make more around like $160,000. My husband brings in some. So our total net of our house is like around $220,000.

Okay. Right now, my student loan is at $185,000. What's wrong with a new job? Why would you not take more money? What's wrong with a new job why would you not take more money what's what's wrong with it well so i have three kids and i really just i'm really bummed i wish when i was younger someone would have told me i just would have wanted to be a mom and so i really want to be home with my kids and so this new job would just kind of be more stressful um My job right now, I'm really good at it. Creates no stress at work.

What kind of stress? When I'm home. Well, I've become a pharmacist practitioner, so I would be running my own clinics. Right now, I'm an oncology pharmacist, so I do all the chemos, and that's fine. It's all IV chemos. Basically, there'd be a big learning curve.

I'd be switching to oral chemo, which is just two different ballgames, which is fine. I would just then be doing that. Just because you're learning something new? You got a PhD. Learning doesn't bother you. You're just going to be running a clinic, though.

You're going to be the one in charge of it. Yeah, I'm going to be running my own clinic, which right now, I don't run my own clinic. I work in a studio. Yeah, that's different. I see my own patients. Is that what you're talking about is stressful? Yeah, just outside of learning because I do have three small children. When I get home, the time to learn is low because I do work full time.

It doesn't sound like you want to take it. I don't think you want to take it. I don't know what to do because then I could pay off my loan. You can't quit and go home and be with the kids. You made a decision to go $300,000 in debt. Yeah, she knows that. I would stay with the job you have. So you have to stay with something. I would stay with what you have.

You've got to take that off the table. But if you want to do the other thing or this thing, either one. But under all this is you really just want to quit. And you really can't. And so let's just decide which big girl thing we're going to do. This is The Ramsey Show. Rachel Cruz, Ramsey personality, is my co-host today. Thanks for hanging out with us, America.

Hey, this is the last day to get the early bird pricing on the Dave Ramsey's essential investing event that I'm doing May 21 and 22. It's a two-night virtual event where I'm talking to you about not only the basics of investing, but we're going to open our playbook on how I do real estate, how I do my other investing, as well as my mainstream stuff like 401ks and mutual funds. Tickets are $199. If you buy today, you save $50. That's cool. RamseySolutions.com slash events.

All right, Lana is with us on the debt-free stage. Hey, Lana, how are you? Good. How are you? It's a pleasure to be here. Honor to have you. Where do you live? Los Angeles, California.

Welcome to Nashville. And how much debt have you paid, Lana? $173,000. Wow. How long did that take? 18 months. Good for you. And your range of income during that time? $134,000 to $223,000. Wow. Look at you. Way to go. And you're dropping basically about a hundred about ten thousand dollars a month average that is correct rowdy what kind of debt was this all student loans wow what's your degree in i'm a pa physician assistant ah is that what you do yes great career field thank you uh expensive to pay for though very expensive yes way to go it's a good choice so uh what in the world happened 18 months ago that made you decide to do this ramsey stuff? Yeah. So when I graduated PA school back in late 2019, I had such a huge debt, 173K. I had moved back home from Connecticut actually to Los Angeles where my family's from. And I

realized that I needed to pay off my loans and that meant having to move back into my parent with my parents house again so that was a hard change but it had to be done and then i realized that at that time with covid happening um the government was giving us a zero percent interest i needed to take advantage of that and so that leapfrogged it forward yeah yeah it definitely helped a lot so i worked hard i picked up you know one job it was kind of tough because during COVID, we didn't have enough volume. I work in the emergency room. So I was getting let go on some days to go home because we didn't have enough volume. But eventually I picked up side jobs. I worked in the urgent care. Eventually when the volume returned, I was able to get two full-time jobs, work in the emergency room, averaging about 22 shifts a month.

And that helped me pay down my loans quickly. I think my main goal was to get out as soon as possible so that I could start buying assets and hopefully have some passive income down the road. Good for you. That's amazing. So how, what, like on an average week, how many hours were you working? That's tough. I would say it varies because let's say between 60 to 70 hours a week. Oh my gosh. And it's absolutely doing it. It is. It's very tough because working the ER, I was expected to work not just day shifts,

but days and nights. And so I was averaging about 22 shifts a month. An average full-time ER provider would work 12 shifts a month. I was working 22. And so I had to flip-flop my sleep schedule from days to nights. That was tough. For sure. But it was worth it at the end because I'm here.

Yes. And now you can do whatever you want, right? Exactly. How does it feel to be free? It feels amazing. I remember when I was listening to your show back then when I was going on my runs. And I was like, wow, one day I'm going to be on the show. Ah, there you go.

And here you are. Yes, here I am. Look at this. Thank you. What do you tell people the key to getting out of debt is? $173,000 paid off in 18 months. I think for me, it was mainly staying focused and disciplined. I'm a very disciplined person.

What really helped is, I think for me, for my age and generation, is staying off social media. Sometimes people my age, once they have a nice degree, they feel like the lifestyle inflation creeps up. You want to get the new Tesla. But for me, I just was staying off social media, was focused on paying off my debts and just living below my means. Really, that's the key. Yeah, it's being weird because all my friends had nice Teslas when they graduated. You know, and I just I was still with my beat up car and I still drive and see beat up car today.

That still works. Okay, was there anybody that was in your life that was cheering you on or were most people like looking at you like, you're crazy, Alana? I think I do have a close friend who cheered me on because she became debt free and she's like, you're gonna get there too one day.

But it was hard, you know, socially to not be able to hang out friends as much because my schedule was so flip-floppy but at the at the end it's worth it and now i'm able to hang out my friends again who welcomed me back yes yes so even on the show today we've had two or three calls of people with pharmacy degrees and i mean some big student loan debt that we've had called in just today and the conversation is this encouragement kind of actually using your story for an example of you know if you if you condense this down with a short period of time and you sprint and you do it you're done versus it you know stretching out 10 years so what encouragement

do you have for people that are listening that probably could have six figures of student loan debt and they're thinking oh i could do it in five or six or seven, eight years. What would you tell them? I would tell them just to stay disciplined. Don't get distracted with keeping up the Joneses. And it's possible because if you're in that field, you make good income, you're able to pay it off quickly too, but you just have to not let the lifestyle inflation get to you. And it's okay, you know, to sacrifice for a few years because once you're done, a few years go by really quickly and you're out of it. And then you're able to enjoy life again.

But I think a lot of times people are afraid to make these sacrifices, you know, for the short term. But I think to me, it's so worthwhile because now I get to move on to the next step in my life. That's right. That's awesome. You're a hero. You're amazing.

Thank you so much. Well done. Well done. You're a force of You're amazing. Thank you so much. Well done. Well done. You're a force of nature, girl. Thank you. I like it. I like it a lot. Well done.

You knock this out and there's no stopping you. You can do whatever you want to do. You set your mind to it and it makes a difference. It is an irony that when we had a pandemic that the volume to the emergency room was down i guess because no one was doing anything that could cause them to get hurt that is true yeah the beginning i think people were so afraid of like leaving the house yeah i know but i mean yeah it's just funny it's like but i mean if you're hurt bad enough to go to the hospital, that's weird. That's weird if you think about it. But that's exactly what happened.

Yeah. I mean, we knew that stuff like elective surgeries, you know, like plastic surgery, that kind of stuff was just gone, completely gone. But emergency room, I did not ever hear that the ER went down in volume. That's so interesting. Right. Yeah. Way to go. You figure you navigate your way through it. You're not someone that, oh, well yeah way to go you you figure you you navigate

your way through it you're not someone that oh well the next thing let's figure out how to solve that let's solve for that let's solve for that whatever's put in front of you you you find a way to jump the hurdle way to go thank you very proud of you very proud of you very cool much good for you you did great so again rachel said it a different way i'm going to say it one more way what do you tell people the key to getting out of debt is? Staying disciplined. Yeah, that's it. That's it.

That's it. And I will say that one thing you mentioned, I just was seeing some data the other day. There is a direct correlation between the amount of debt that someone has, consumer debt that they have have and how much time they spend on the internet the high the more time you spend on the internet the higher your debt is across the board uh because it's just you're constantly looking at a highlight reel of someone else's life that's not real to compare yourself to because people don't put ugly stuff on you know they put up the only time that everything's perfect you know and it's

like you know and rachel used to say um you know no one puts a used honda on there look what my husband uh got me hashtag blessed right you know nobody does that they put the new lexus on or the new whatever right tesla yeah that's it but that's all those are all fake moments and that's why you know like facebook friends are fake friends that's why we But those are all fake moments. And that's why, you know, like Facebook friends are fake friends. That's why we say we help you with actual amazing relationships on this show because they're not virtual. Virtual means not true. And so that's so insightful on your part.

I turned that off, and it helped me to stay focused because you're like a fish, the shiny lure going in front of us when we got the dad gum instagram feed going exactly yeah crazy so look at you way to go very very proud of you good work all right lana from los angeles 173 000 paid off in 18 months making 134 to 223 we've got a couple of years of every dollar subscription for you we'll hand that to you in a few minutes count it down let's hear a great debt-free scream three two one that's how you do it if you're lana i like it good yes brother to tears just slam free absolutely free that's it i've been waiting on that i've been waiting on that i've been working for that look at her way to go kiddo

so good this is the ramsey show rachel cruz ramsey personality is my co-host today open phones at 888-825-5225 Megan is in Omaha Nebraska hi Megan how are you I'm good thank you guys so much for having me on sure what's up yes so my husband and I were married in September he is financially disciplined and manages money very well. I'm learning quickly and currently in baby step two. I have about $46,000 in debt, $40,000 in student loans. He has no debt and $90,000 in savings. He has worked really hard to save this money and I feel uncomfortable using his savings to pay for my mistakes. We have discussed putting $20,000 of

the savings to put towards my student loans, and the remainder would be paid off in 13 months. I wanted your thoughts on if we should use the savings to pay off the entirety of the student loans, or is it okay to do the partial payment of $20,000 and then pay the remainder off in 13 months? Pay it off today, Megan. Pay it off today? Paid off today. Open a nice bottle of wine and you guys cheers and say we, as a couple, as a married couple, our money and our debt is paid off. And now we get to start working towards a future that we want and we are going to start

building wealth and we are going to do this all together because we are married and we are one. For richer, for poorer, in sickness sickness and health unto thee all my worldly goods i pledge that's the old marriage vows thank you we had a feeling you would say that but i think we just needed that extra push we're fairly predictive let me let me tell you another way to think about it that helps me emotionally because we get this type of question a lot and a lot of actual pushback from the troll land on the internet um that now you should never combine your money yes you should always combine your money because of several reasons number one the data says that you have a much higher probability of staying married having a good marriage and building wealth than if you don't combine it tons of data

lots of research including the 10 000 people that we studied number one number two from a relational standpoint when you can agree on what you're doing with our money when we are combined in our goals we agree on our money we're really agreeing on our dreams. We're agreeing on our fears. We're agreeing on the path that we're going to use to get to the future that we want to do. All of that agreement is called unity, and it spells excellent marriage is what it does. High-quality relationship when you've got that kind of unity with anyone else, but particularly with a spouse. So in business, we want the teams to be in agreement, aligned towards an agreed, unified future.

And when we get that in business, we get synergy and productivity and all kinds of things. Same thing occurs in a marriage. So all of that being said, here's a new one i can try on you let me see how this works if you had if you had uh if you got a check in the mail today from from a rich uncle that died and it was 96 000 you would pay off the loan today, wouldn't you? Yes, I would. Okay. So what we're saying out loud that we're trying to encourage you guys to change your vernacular

on, change your verbiage on, is you're saying that that's not your money. And it is your money. You're now married. And he's saying that's not your money and it is your money you're now married and he's saying that's not his debt and it is his debt because you're now married and if he gets sick and has the flu you're going to make him chicken soup in sickness and in health right and we're going to be living our lives together so if you would use your money to pay off your debt then you should use your money that's right to pay off your debt yeah and and and i would be so uh i would just challenge you guys i mean honestly my getting that not just the tactical stuff of get going online and paying off the debt today which i think you should i think it should be gone tonight. And it's what a celebration. But when you actually

do have that mindset shift, and instead of his account, your account, his savings, my debt, and it's this still two lane idea, there's something about just going all in, all in, in it and saying we are this is us together and you start really looking at your money as as us it doesn't have someone's name on it it is it is our money when it hits that account and it it just changes something there's something in it that is so empowering and so exciting because you can get to your goals so much faster so much faster exactly right leona's in michigan hi leona how are you hi i'm good how are you better than i deserve what's up okay so i am wondering what the best way to buy land is so we came um got an opportunity to buy some land um it's a boat It's about a little over seven acres for $15,000.

But we have a vehicle loan out right now. We owe $8,446.99 on that. Anyways, we would like to pay off one debt before we have two debts. So I'm just wondering if we should use the money that we have saved up for that land if we should put that towards the van and use that van as collateral for the land no you should pay off the van today and you should save up and pay cash for the land okay so do you know that no debt pass no debt on the land opportunity yes you should pass on it it's not an opportunity it's a trap you don't have the money okay you don't have the money to buy it no debt if you get out of the debt business you're going to have money for the first time in your

life but as long as you're playing hide the pea under some shell trying to move it around so that it makes the debt all fun again you're going to continue to be broke this is what broke people do they constantly have payments and they constantly figured out a way they thought it was smart but they constantly have no money and so i want to if i'm you i want to and and because i love you i want you to break that off of your life i want those chains to never come back into your life ever again. Stop it. Get out of the debt business completely for the good of Leona. How old are you? 25. Yeah. When you're 35, you will love this discussion if you go do what I tell you to do because you're going to have so stinking much money. Otherwise, you're going to

be 35 and you'll have a new set of payments because you had a new plan. And no money still. How much do you guys make a year, Leona? A little over $56,000. $56,000. Okay. What's the money saved that you have?

You mentioned that. So we have seven grants saved and our van, we 8,446 and 99 cents okay so that's yeah i mean i would keep a thousand pay it off you'll have a little over 1800 left on the van not the van i'll take over time put some stuff on craig's list sell so much stuff the kids think they're next name the dog ebay and put the cat on craig's list and then get an emergency fund have money saved in the bank with no debt and then be looking at options if you guys want to move later on down the road you can but yeah not it there's just not the the money to do that with the land issue and everything today when you buy something that's a dream with debt you turn it into a nightmare because it takes control of your life it takes control of your life. It takes control of your largest wealth-building tool, which is your income.

When you don't have any choices anymore, because you're wearing this stuff around your neck all the time, it takes the fun out. It sounds fun. It sounds like a way to get something I want when I'm not ready to get it yet. But the net result is hell. I mean, you just get stuck in this forever mud hole, and that's what most Americans do.

They go from car payment to car payment. They've got a stupid student loan that's been around so long they think it's a freaking pet, and then they run from MasterCard. Who named that anyway? You have a master in your life. MasterCard to American distress to a visa to the land of debt i mean come on seriously think about this people if you break that cycle off of you it

changes your whole thing we're known for getting people out of debt but we're only want to be getting people out of debt so that they can increase their generosity and increase their investing and become wealthy so they can increase their generosity and increase their investing and become wealthy so they can increase their generosity and increase their investing so they can become more wealthy so they can increase their generosity and increase their quality of life and instead of that when you're in the debt cycle you're making everybody else rich you're making the banks i mean everyone else wins but you in it who's got the tallest buildings in the skyline life insurance companies and banks you. You think Santa Claus built those? You did.

They screwed you. They got furniture nicer than yours, and you paid for it. This is The Ramsey Show. Thank you.