The Ramsey Show - App - Moving Out of Parent’s House…Should I Rent or Buy? (Hour 3)

Episode Date: December 22, 2020

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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'm Dave Ramsey, your host. Thank you for joining us, America. We're so glad you're here. Dr. John Deloney, Ramsey personality, best-selling author of the book, Redefining Anxiety, What It Is, What It's Not, and How to Get Your Life Back, is my co-host today here on the air. We're taking your calls at 888-825-5225. That's 888-825-5225. Peter starts off this hour in Phoenix, Arizona. Hi, Peter. How are you? 855-225. That's 888-825-5225.

Peter starts off this hour in Phoenix, Arizona. Hi, Peter. How are you? Hello, Dave. Thanks for taking my call. Sure, man. What's up? Well, I'm 64. My wife and I have been married for 33 years. And we have four children. And our youngest child has autism. He was adopted late in our marriage,

and so we're trying to provide for him after we retire. We know he's going to lose my company's insurance as soon as we retire when we go on our Social Security, so we're trying to provide for him and make sure that he's taken care of. Okay. And now the specific question is, how do we do that? You know, and we've got a lot of people that, you know, aren't experts giving us advice. And you know, one, one person said, you know, you need to get a physician's letter of capacity so that he can get social security,

you know, so that he's so that he's taken care of. Now, we don't we don't anticipate him leaving our house because of his because of his capabilities. He's he's higher on the spectrum, but still, he we don't we don't he's vulnerable, you know, out there, and we don't think that, you know, he's ready to make the move. He's 26 years old. I'm sorry, 23 years old. And so we're kind of at a crux right now as to what we should do. Okay. The truthful answer is I'm not positive what you should do.

So what do I do when I'm in a situation like that? I would do what you did. I would call somebody I thought was an expert, and apparently I'm not. But anyway, yeah, I would call Zander Insurance or someone like them that is an insurance broker that brokers health insurance for several different companies in multiple states. Now, obviously, you're going to want someone that brokers insurance in Arizona. In the insurance world where we have an unusual case and you're trying to get an unusual type of insurance or an unusual situation insured,

we call it they make a market, meaning they find an insurance company that will cover it. And so, like, you hear bizarre stuff, like a pianist insuring their hands or something with Lloyd's of London. That's called making a market. They found an insurer that would do something unusual this is not that unusual but it is it is a a nuanced situation that i don't know the answer to so i would talk to some people in the insurance world and say okay what are my options what can we buy can a 23 year old the high functioning autism living with their parents buy their own insurance. I suppose they could. I think that's very possible.

They could just simply, under Obamacare, pre-existing condition doesn't count against you. I suppose that he could just buy insurance. Of course, that's going to mean you're buying it, you're paying for it, but it would be as if he's doing the transaction with something like a Blue Cross Blue Shield or something. I think that's possible but i can't slam my fist down and say i know the answer to your question because i don't so what i would do in your situation is i would talk to insurance brokers and the reason for that is that means they represent a whole bunch of different companies and their real person they

represent is you and they're just trying to find a place to slot you and give you the best deal. That's the best deal on health insurance. It's the best deal on car insurance and homeowner's insurance. It's the best deal on life insurance is to not go with a captive company that only sells their products, but instead a company, a broker that sells products of many different companies. And an example of that is Zander Insurance. So I just call those guys and see if they do repping for health insurance in Phoenix. If not, they can give you a recommendation of someone that does, and I think they do.

And then they can help you figure out how to insure this under the Affordable Care Act, also known as Obamacare. And there's a lot of things that you can force in those situations. Now, the fact that he's not a minor may play into it, but he's under 26, and he's in your household, so that should play into it. So he should be able to treat it just like he was a kid living at home with you. And it's under your insurance, but it's not your insurance now. So I should be able to treat it just like he was a kid living at home with you. And it's under your insurance. But it's not your insurance now. So I don't know. I don't know how it's going to play out. But I think it can be done.

I think you've just got to scratch around and solve the issue. And then the second part of the equation is you've got to solve the issue for how much of your wealth is allocated to a trust upon your death for his care and who's going to be in charge of his care and managing the wealth that you leave to create an income for him to eat with upon your death? And that's the second part of the equation is the long term planning for him.

And that's a special needs trust in most cases in your will is what you do with that. That part I do know a little bit about. So I wish I could just give you the answer. I just don't know the nuances of that stuff. It's not my world. And I love that you're there for him. That's a pretty cool situation. Tough world, John.

Yeah, and one note to folks with kids, 23-year-olds, 22-year-olds, 16-year-olds, 15-year-olds with medium to high-functioning autism, Dad mentioned he's doing well, but he's still vulnerable, so we want to keep him here. I always want folks to lean up against that efficacy, the skill sets that those young people have. Give them the opportunity to get a part-time job a close a job where they will be successful they they earn dignity there they earn their own money there and they begin to develop social skills especially if they got a coach with them that can really move beyond this initial diagnosis with especially with high functioning autistic kids they are just extraordinary human beings and can find places where they can be really successful and so good for you yeah very

important dakari is in washington dc hi dakari how are you hey john how are you today sorry i apologize hey dave how are you today we're both here it. It's all good. What's up, man? How can we help? So I am 26 right now, and I live at home with my parents. It sounds like you're whispering. Are you, like, in a closet? Okay. You don't want them to find out? I'm at work right now. Oh, okay.

All right. All right. I thought you were hiding at your parents' house. All right. No, no, no. I'm busy during the day at the very least. Okay. So I'm busy during the day at the very least okay so I'm 26 I live at home and basically I'm trying to figure out right now if it's best to buy or to rent now just some context I would be buying a four unit owner occupied. No, no, no.

Can you pay cash for it? Can I pay cash for it? How about this? Let's do this, Dakari. If it's FHA. Dakari, I'm going to hold you over the break because we'll talk to you. I want to be able to flesh this out fully here after this break. So stay with us and we'll be right back. Has your family grown larger over the years? Ours has too.

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To learn more, visit us online at chministries.org slash budget and explore which options are right for you and your family. chministries.org slash budget. That's chministries.org slash budget. Dr. John Deloney, Ramsey Personality, is my co-host today. We are talking with Dakari in Washington, D.C., 26 years old, thinking about moving out. Thought about buying a fourplex and live in one of the fourplexes. And that's about how far we got in the discussion.

Is that a fair summary of what you told us so far, sir? Exactly. Exactly, Dave. Cool. All right, John. So, Dakari, I was trying to cram it in there before the break, and then I thought I would breathe a little bit, and I tried to force this on you. Here's the deal. Do you have 20% down on this fourplex? So my understanding is with owner occupancy i could do under fha so 3.5 and no i don't have the 20 down yeah so what you don't want to do as a 26 year old is put three percent down scratch and claw and borrow that three percent

and slide right in and then have something come up and you've got to fill the rent on those other three places. And suddenly you're way, way over your head. And I know you want to get out and you're trying to figure out a quick way to build wealth. You feel like you're behind because you're 26. How much money do you have saved, sir? $26,000.

And what are you making? Just $45,000. And I do work for a property management company, so I'm kind of, I'm already in the game a little bit. Yeah, that's what gave you the bug. Yeah. That's what gave you, I was the same way, man. I got my real estate license when I turned 18, and I couldn't wait to start buying real estate. It was my favorite thing in the world.

And I want you to get some real estate. I just don't want, I'm with John, I don't want the real estate to get you. Okay, step one, move out and rent for six months okay during that time you learn to pay your own bills you emotionally separate from mom and dad that last degree and you're standing on your own two feet and there's some stuff happens spiritually relationally all thatally, all that. You get all that out of the way. You buy your own freaking couch and that kind of stuff.

And then kind of from that solid platform, we start talking about whether you buy something or not. And, you know, I don't ever tell somebody to buy something with 3% down. 3% down means you can't afford it. Okay. For me, because i want you to have more margin than that i don't want this thing to sneak up on you because here's the deal if you have three tenants and you're one of and you're the fourth and there's something like let's just

say something like a pandemic hit who would have ever thought right and the tenants the tenants were all servers at local restaurants and they all lost lost their jobs, and they can't pay. And you've got to pay the attorney to evict them, and you have to pay the payment. And you have absolutely no cash because you put what little cash you had into this deal. You're what's known as screwed. I see. I see. And I've been there, and I love real estate. And I really want you to buy some real estate. But by the time I was 26, I had $4 million worth.

And I had too much borrowed on it. And the bank got sold to another bank. And it flipped me on my head. And I spent two and a half years going bankrupt, losing everything I owned. I don't want you to have that experience. Okay, I see. Go slower with more cash and more margin so that after you put the payment down the down payment down there's a lot of wiggle room in your life and there's a big old pile of

cash laying there in case stuff bad stuff goes out like the heating and air system not in case it will it will go out right yes not not so not not so if but when right when crap happens and you've been managing property so look at it from the owner's perspective they get the repair bills the expenses they get the vacancies they get the non-paying tenants who go into chapter 13 or worse chapter 11 and you don't get paid for nine months and you can't evict them because you cannot file on them while they're in there. You know, we had a moratorium in my county on evictions during the pandemic. We had this in our state. The state Supreme Court came down and said no evictions for two months during the pandemic.

And we had a guy who had nothing to do with the pandemic he was just a twerp and he wasn't paying his bill and we needed to get him out we couldn't get him out we're stuck we're sitting there of course we didn't have any payments so it was no big deal we worked it through but you know if you had a bunch of that kind of stuff pile up on you man real estate gets less than fun it is not a broke people's game. But here's what I've got really high hopes for Dakari. He's 26 years old. He's already thinking. He's got thousands of dollars in savings.

Yep. Right? Against not a huge salary. Yep. So he's a saver. He's a planner. He's got the wheels cranking. Yep.

He just needs the right plan, and he's going to make it happen. Yeah, just be the tortoise, not the hare. Yeah. Move out. Rent something cheap. Get you a used couch, buy your own groceries, pile up some more cash, work an extra job, pile up some more cash, then do your first deal 12 months after you move out at the earliest. Dan is in Denver.

Hi, Dan. Welcome to the Dave Ramsey Show. Hello. Hi, Dave and John, the Dave Ramsey Show. Hello. Hi, Dave and John, and thanks for all that you do. I call myself a financial piece zealot, and I have kind of a strange car question for you. All right. So I have, I guess we have the need to buy a new car in the next year or so, and the cars that we're looking at are two models,

and quite frankly, they didn't exist a couple years ago. So I was wondering, is it better to buy a 2019 used model or a 2020 model that's 25K? So the used one's 30K and the new one's 25K, but they would both meet our needs. What's your household income? About 200K. That's nice. Very well. Good. Okay. You talking about a Tesla? Oh $200,000. That's nice. Very well.

Good. Okay. Are you talking about a Tesla? Oh, no, not a Tesla. They're hybrids, Bill. Oh, hybrids. Okay. All right.

You said it didn't exist a few years ago, so I couldn't figure out what you're talking about. All right. So, and what's your net worth, sir? Sure. It's probably about $700,000. Okay. All right. Our recommendation has always been not to buy a brand-new vehicle until your net worth is over a million. You're going to be there very shortly with your income, and I assume that $700,000 is invested and it's growing as well.

So you're going to be there before you know it. I personally did not buy any new cars after going broke and starting over and adopting these rules. I personally did not buy any new cars until I had a $10 million net worth. But the point being that a new car goes down in value so fast that you want the discipline of not having invested in something that's losing ground that fast. You're kind of on the bubble. You make a lot of money, and you got a lot of money and you got a lot of money you're almost there so i mean you could cheat and pull it off it's not going to destroy you uh what i'm trying to do is keep somebody from making fifty thousand dollars a year

uh with a twenty thousand dollar net worth from buying a brand new car and then they lose eight thousand dollars the first 10 seconds they own the stupid thing you know when you drive it off the curve curb when it's brown and it goes blump blump that was a 10 grand sound you know and so that's that's what you don't want to have a ten thousand dollar thing happen to you when you don't have any money right but in your case with the money with the numbers you're giving me dan if they're all accurate i mean you're almost there and so you you're more than capable of making this decision on your own i personally would probably go ahead and buy the used one just as an act of discipline a financial discipline just to say i'm not going to start acting like i'm high on the hog because you're not that high on the hog yet you're doing really

well though you're doing really well obviously you're you got a huge income and that's piling up for you fast so you know it's not going to cause you to not make millionaire status regardless of which way you make this decision but i like the discipline of sticking with the guideline of until i have at least a million dollar net worth i'm not going to buy a brand new car because they go down in value so quickly that first year. And Dave, one of my favorite things to do is to look at successful people, look at wise people, and listen to their little t-truths, the sayings they give, but watch their big t-truths, how they live.

And for everybody listening to this who doesn't have $700,000 net worth and a $200,000 income, I want them to hear what it sounds like with somebody with that sort of resources, that sort of income, earning power, still trying to make a wise decision on a car. Still thinking about the purchase. That's

how you get $700,000 when you ask questions about $25,000 purchases. That's how you accumulate that money, $10 at a time, $10 at a time. Exactly. Good for you, Dan. Exactly. He's got the right stuff. That's how he got there.

That's a good point, John. Very good. This is the Dave Ramsey Show. We'll be you next time. Dr. John Deloney, Ramsey Personality, is my co-host today. This is the Dave Ramsey Show on the Dead Free Stage, right here in Ramsey Solutions Lobby. Rafael and Jessica are with us. Hey, guys, how are you? How are you doing, Dave? How are you are you? How are you doing, Dave? How are you?

Welcome. How are you doing, John? What's up, brother? Where do you all live? We live in San Antonio, Texas. Awesome. How much debt have you paid off? $76,000.

Woo! How long did this take? 17 months. Wow, you kicked it. And your range of income during that time? From $60,000 to $104,000. Now, there's a bump. We went to school.

She got a job. Look at you throwing her under the bus. Come on. She got a job. Because I'm a disabled veteran, so she was usually just at home taking care of me. And then I was like, hey, you got to get out there. Start making some money for us so we can pursue what we really want to do in life. I love it.

Thank you for your service. So what kind of debt was the $76,000? Oh, it was a lot. Man, I bought a car. I originally bought a truck without telling her. Yeah, I didn't listen. I bought a truck without telling her. Jessica, how did he live through that?

I don't know. The doctors are amazing, huh? You're just a sweet lady. The doctors are amazing. I'm still here. So doctors are amazing, huh? I'm still here. You're just a sweet lady. That's all it is. The doctors are amazing. I'm still here. So, yeah, I did that. And then we thought we needed a family car because we had our second child at the moment. So we bought a new 2018 Dodge Journey.

Sure. Traded in the truck for that. So it was like negative equity into the new one. We paid $40,000 for a $27,000 car. That went, we were, what do I say that underwater yeah we were underwater we went upside down and that within like six months wow um so yeah um in the last five years i got scammed um we blew twenty seven thousand dollars in a furniture store uh in like two minutes. That was awesome. It's like you're on a game show.

It was awesome, Dave. We did that, and then we just got sick and tired. We had our second child, and then we was making all this money. It was like 60 grand at the time. We had nothing to show for it, so I got mad. I started calling some of our companies and say, hey, can we postpone these bills? Can we do it three months out? Because we just bought a house at that moment, too.

So it just felt like every time the money came in, it went out on the second day of the month. So we were just eating ramen noodles at the time just to make it by, trying to make ends meet. It sucked. I hated it. I didn't like it. You're eating ramen noodles at a really fancy kitchen Yeah. It sucked. I hated it. I didn't like it. You're eating ramen noodles at a really fancy kitchen table. It was nice.

It was a really nice table. It was glass. All that, you pull it out, it rotated in the middle and everything. It was nice. And those ramen noodles tasted just the same, right? It was. It was really good.

We had the shrimp flavor, the chicken. Man. All the different powder packets. All of them. It was nice. It was nice. It was nice. So what did you do when you got disgusted? We had a talk.

We originally went to Financial Peace in California. That's where I was stationed, Camp Hilton. So we originally had it there, but we were still doing Dave-ish. We didn't have an accountability partner or anything like that. So you flunked. We flunked the class, yeah. We never even got the certificate. So it was sad.

We left. We moved to San Antonio. And then we met this great church called CBC. We met friends there, started a small group. And then they seen a book in our house. Like, hey, what are you doing with the Dave Ramsey book, man? Can I borrow it? And then they got serious about it.

That became our financial accountability partner. And then we just started in January of last year, and we've just been booking it. Okay. So you knew what to do. You just had to go back to it. Yeah. Yeah, we knew what to do, and we knew an accountability partner. Otherwise, we would just still spend whatever we went to.

Keep you out of the furniture store. Stay away from the furniture. That's nice furniture, Dave. All right. So, Jessica, we haven't heard from you. Tell us about your experience in this journey. It was really rough. For a good while, I just kind of had to sit him down and talk to him and tell him that I felt like he was dragging me.

But we came together, and like he said said our accountability group just kind of helped us through the through the whole process and now we're here so you you didn't mind the your financial situation you liked that furniture i did you liked that new car i did at the time okay but it was like he said it was just ramen noodles so no money. Yeah. Old money. Well, way to go. Now that you did it, you're the other side of it. Talk to somebody who has taken the class years ago and fallen off the wagon, so to speak. And what does it feel like to get back on it and go, okay, now game on? Well, it's exciting.

After seeing the first debt go away, doing the steps, do the smallest first and then do the largest, it was just motivating just checking it off the list on the refrigerator. I would say to them, just don't give up. Stop eating out because you might eat out small, but, like, those little purchases add up throughout the mountain. We noticed that we were spending, like, nearly $800 on800 on like food, just eating out and stuff like that. So we stopped eating out, had the accountability partner, and we just stayed focused. Like we knew what we wanted for our kids. That was our why.

We didn't want them to relive. Relive. relive relive a family curse of just being broke all the time. I didn't like it. So, I want to set them up for financial financial peace.

That's why we did it. We had a really strong why. And you did. You did. You did. You broke the chain, didn't you? You literally changed your family tree. That's pretty cool, man. I'm so proud of you.

And bigger than the money. Very well done. You taught those two kids what a married couple can accomplish when they come together. You taught your kids what it looks like to submit to accountability partners you changed everything about their future brother yeah because they were watching you the whole time they absorbed all of mama's temper tantrums it was a lot all of it yeah she was upset with me we had um we had a lot of fights along the way but it was worth it she was like you're all about the money i'm like no no because every every time we got but it was worth it. She was like, you're all about the money.

I'm like, no, no. Because every time we got paid, it was like, hey, let's throw it here. Let's throw it there. Let's get rid of this one. Let's get rid of that one. Because I was just motivated by just seeing that big pile of debt just disappear every month. Man, I'm so proud of you guys. Well done.

Very, very well done. So what are the secrets to getting out of debt? You got a big why and that's obvious. What are the secrets? Sell. Sell a bunch of stuff. Sell everything inside. Sell everything. We sold the entertainment system. We sold the car. We sold the couch. We don't even have a couch

anymore. That's crazy. We sold that dining room table. Everything we bought with that glass dining room table. With the spinning thing in the middle. We sold that dining room table. Everything we bought with that. The glass dining room table. The glass dining room table. With the spinny thing in the middle. We sold it. Sold it. Sold it all. I love it.

We sold clothes. We sold shoes. There's something that switch that flips and you go, it's just stuff. It's just stuff. Like, Dave, we were selling plasma. It was crazy. I want my family tree changed more than I want a glass table with a spinny thing in the middle. Hey, it was worth it.

I mean, that's like the opposite of shallow, right? It is. Well done. I don't want to live inside of one of the greatest culinary cities on earth eating ramen noodles, right? Oh, man. No, you don't. I want to get some good food in San Antonio. Hey, man.

My mouth is watering. Mine is, too. You did that. All right. We got a copy of Chris H, too. You did that. All right. We got a copy of Chris Hogan's book for you, Everyday Millionaires. That's definitely the next chapter in your story. We're going to get the kiddos into the debt-free scream? Let's do it.

All right. What are their names and ages? This is Rafael Jr. and Leonardo. I'm trying to stick with Ninja Turtle. There you go. I need two more. I need two more. All right.

Lots of Ninja Turtle action here. All right. Lots of Ninja Turtle action here. All right. $76,000 paid off in 17 months, making $60,000 to $104,000. But the most important thing was the family curse has changed. The family tree has changed. And you're looking in the guy's face, the gal's face, who changed it right here. They did it. Count it down. Let's hear a debt-free scream.

Three, two, one. We're debt-free! Oh, man. You have honor to where you came from, but you don't have to repeat where you came from. That's the magic, right? You don't have to repeat the things that they did that were wrong. You can change your family tree. You can honor people and recognize

there's not a curse that can't be broken. They didn't have the tools. I've got them. The curse can be broken with the truth. Yes. And the action. When you put the truth and the action in place, you can change it. This is the Dave Ramsey Show. our scripture of the day second corinthians 9 7 each one must give as he has decided in his heart not reluctantly or under compulsion for for God loves a cheerful giver. Winston Churchill said, we make a living by what we get.

We make a life by what we give. 2020 probably wasn't the year you hoped for. Well, no duh, you might have to pause some of your money goals, like paying off debt, just to keep your house running. But a new year is here, and you can clean up the debt, and you can get control of your money, and you can get back on track, if you got off track, faster than you think. And that's exactly what happens when you get Ramsey Plus.

It's our step-by-step money plan that will help you pay off your debt as fast as possible so you can start spending and saving how you want and here's how you learn the practical ways to pay off more debt and save for emergencies you'll plan your spending in a budget so you can even find more money to throw at the debt and you'll track your progress we're going to show you everything. It's Financial Peace University wrapped into their Ramsey Plus. No matter how this year has gone, you can make 2021 the year you get rid of your debt for good. So try Ramsey Plus for free. If you want to try it, text the word trial to 33789. That's trial to 33789. That's trial 233-789. Dr. John Deloney, Ramsey Personality, is my co-host today here on

the air. Rodrigo is in San Francisco. Hey, Rodrigo, how are you? Hi, Dave, how are you? Better than I deserve. What's up? I need help or some guidance of how to tackle $71,278 of debt. It's seven credit cards totaling $35,875. One personal loan totaling $11,611. One car loan totaling $11,626. A student loan of $6,808. And a tax bill of $5,357. And what's overwhelming for me is that the minimum payments on all this stuff totals to $1,846. And I'm just not sure the best way to tackle this

whole debt. And what's your income? Income is $39,000. How much is your rent? Rent, I'm fortunate right now to be staying at a place where it's $500 at the moment, which is amazing. What's at the moment mean? You're not going to be there long? I'm going to be here for at least a year and a half. Okay. Because that's unheard of in San Francisco. You said very fortunate. It's more like a miracle. Yeah. Okay, good. That's wonderful. I'm happy for you.

Okay, so you live in one of the more expensive cities in the world. You know that. Yeah. Making $39,000. How old are you? 31, single. Okay. And so for approximately 8 to 10 years, you've been spending more than you make pretty steadily. Yes. Thus the personal loan, thus the credit card debt, the car purchase when you didn't have any money, so it's debt. And the student loan lingers from the days back in college. Yeah. Is this a summary of how we got here, or did I read something wrong? Nope.

Summary perfectly. Okay. And so I think there's two things that have to happen, and they both have to happen in order for you to turn this math around because the math is kicking your butt. And you've got no wiggle room. There's no margin in the numbers you're giving me. And you've kind of had that come-to-Jesus moment with the arithmetic, right?

And so there's two sides. There's income and outgo. And we call it shovel-to-hole ratio. Your shovel is your income. The hole is your $71,000 in debt and that eighteen hundred bucks a month that's the hole and so you have a a medium to small shovel especially given the city that you live in if you were in abilene texas it'd be different okay but uh in the city that you're in, that's tough. $39,000 is tough. And then the hole you're in is substantial.

So you have a medium to small shovel and a large hole. So we need to change that ratio. We've got to do something with your income. What do you do for a living, man? Right now I'm working at a housekeeper in a hospital. Okay. So you need a side gig that pays. And it can be something as simple as delivering pizza,

and you can make an extra $1,500 a month doing that. That's $18,000 a year. We just added 50% to your income, and you're working four or five nights a week. Your party days are over. You've got to get an extra job or three. Because $1,500 a month right now changes your whole life because you can begin to clean this mess up. Call the student loan people.

Put it on a hardship deferral. Don't pay them a dime right now. Cut up your credit cards. And then the last step, in addition to adding extra income, is you have got to get on a detailed budget. Now, the good news is you really know exactly where you are. You are a detailed person. You did not give me vague innuendo about your debt. You gave me exactly what it was, which tells me positive things about you.

So use that exacting part of your personality. I'm going to pay for it. I'm going to put you in Ramsey pay for it i'm gonna put you in ramsey plus for a year and i want you to go the financial peace university class i want you to get on every dollar this syncs up with your bank it's the best budgeting app in the world and i'm gonna give it to you all free because i've been right where you are and scared and you're scared yeah thanks and rodrigo i want to toss one more thing into the mix do you have somebody there in town that you trust that you can be open with?

Yeah, I do. Okay. You need to have a hard, hard conversation about living in one of the most expensive places on earth, being 31 and broke. Broke. You may have to make some new geographic decisions, some change of profession decisions, and this is one of those moments

that out of the ash of this fire, you're going to make some meaning and you're going to launch out and be a totally new Rodrigo in 2021. But somebody, you're going to have to sit down and have a hard conversation about why am I living here? Why am I committed to doing this work at 31?

Is this what I'm going to be doing at 41? Am I going to be doing this at 51? Or am I going to really bite the bullet for 18 months, 24 months, and change the entire trajectory of my life? Yeah. So you hold on the line. Kelly will pick up, and we'll get you signed up for Ramsey Plus. I'm not sure this is right, but I'll tell you what I think I'm hearing. No one wins the Super Bowl by accident.

It is a series of intentional acts. And so far, the first decade of your adulthood, everything has happened to you. You have not happened to it. You've kind of gone, I'll take this job. I live there. We'll buy that car. Let's go out tonight. And all those things all added up to a pile of crap.

And so now you're ready because you called us and you knew what you were walking into you're ready to turn the corner and start going uh this is not happening to me anymore i'm going to make decisions now intentional be intentional about my career this i'm going to be intentional and disciplined about this and the good news is you're a very detailed person and you will lay out a and map out a detailed strategy and then you can execute it but you don't accidentally end up in you know if you leave home and you want to leave san francisco and you want to go to seattle you don't accidentally end up there nope on sunday afternoon drive you have a freaking map and you go turn here turn here fill with gas. Stop and go to the bathroom.

Turn here. Drive here. And the GPS will yell at you, turn around if you're going the wrong way. And you've got to get on a GPS for your life and start being very intentional about every step because I kind of think, I might be wrong, but I'm kind of reading between the lines, that this has all just been path of least resistance. That job's there. Earl Nightingale used to say, one of the fathers of motivational speaking,

that in every decade there's a group of people who spend more time picking out a suit of clothes than their career. And that's just normal. We get sidetracked and we put our attention to the wrong things. So that puts us out of the Dave Ramsey Show in the books. Thanks, John. Good work. Thank you so much. Dr. John Deloney, James Childs in the booth is our producer.

Kelly Daniel is our associate producer and phone screener. I am Dave Ramsey, your host. 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. Have a friend or family member that needs a daily dose of Ramsey advice in their life? Let them know about the Ramsey Call of the Day podcast. It's a quick hit of advice about life and money in under 10 minutes.

Check out the Ramsey Call of the Day podcast wherever you listen to podcasts.