The Ramsey Show - App - Moving to a Better School District for the Kiddos (Hour 1)

Episode Date: January 30, 2019

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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 am Dave Ramsey, your host. This is your show, America. Thank you for joining us. Open phones at 888-825-5225 that's 888-825-5225 diana starts off this hour in new york city hi diana how are you hi dave i'm good thank you for having me sure what's up i wanted to know um i know the process. I know the steps that you have laid out.

And right now we're on baby step two, and we have about $9,000 left on a car loan that we're going to pay off soon. Okay. And we feel kind of rushed to try to move because of the school starting in September and our child is starting school and we're having a good school district. the school starting in September and our child is starting school and we're having a good school district, we wanted to buy a house. And we wanted to know if it would be wise to buy a house, still owing on the car loan and getting into that mortgage debt, or should we just left it out and follow your plan like you were saying about saving and paying off all the debt

fully? So the question really I always ask myself when I'm looking at something like this is knowing what I know today, what's going to cause Diana and her children and her husband to have the most money and the best financial life 10 years, 20 years, and 30 years from today, not the end of September. Okay? So what is the best thing for you guys long term? What is the way that I can be the most sure that you're going to win with money rather than take a setback?

The way I can be the most sure is the way we say to properly buy a home, and that is to be debt-free and have an emergency fund in place. Now that I know that, what would I do if I woke up in your shoes? I would move and rent for a year or two while I finished getting out of debt, built an emergency fund, and built a good down payment to buy a house. You're broke right now. When broke people buy houses, it's not a blessing. It causes all kinds of problems in your life.

The house is not a blessing. It's a curse, and everything that can go wrong will. A hot water heater will go out. The heating air will go out. The roof will leak, and you've got no money. Now, you're not going to be broke for long because you're working a plan. You're not going to be broke forever. You are going to be broke by September still because you're just going to be finishing up,

getting out of debt, and starting your emergency fund. So, you know, I've been broke. I know what it's like. I just don't want you to stay broke. And when you buy a house when you're broke, it costs you out your ears. So, yeah, if you want to move for school system i got that do it but just go rent does that make any sense at all it does it does um it's just the rent where like where we live in new york so i know where you live most of the school districts aren't as

good so i will actually have to move like upstate new york which is a whole different area well is that where you that's where you were going to buy, right? Yes, yes. Okay, so, I mean, you're making the move, the only discussion, and you're making the move to upstate New York. So the only discussion is whether you buy or whether you rent. Okay, that's true, too. I didn't even think about it like that.

Yeah, go move. Go ahead. I don't care. Go to where you want to be. But just rent for right now until you finish getting out of debt, Yeah, go move. Go ahead. I don't care. Go to where you want to be. But just rent for right now until you finish getting out of debt, get your emergency fund, and then save your down payment. And so I don't mind if you stay in New York City. If your goal is to be in upstate New York because you think those school systems are better, I'm with you. Go head to upstate New York.

Diana, that's actually what Sharon and I did. We sold our home when we had one in kindergarten and one in the second grade and moved to a county, an adjacent county, that had a good school system. And we rented for two years. And I've got to tell you, I've been in the real estate business my whole adult life. I've been a landlord almost all of my adult life. Being a tenant was really humbling for me. You know, I mean, I really had to believe what i'm saying to you but i did do it and i um i rented for two years sharon hated that house i hated the

idea of not owning real estate and i hated the idea of being a renter because i'm so against it in my i grew up with the real estate business i'm never in the real estate business so i it's just in my dna to not want to be a renter it was really humbling for me but it was one of the best moves we ever did because that two years allowed us to finish cleaning up debt we got the school system so we were out of the private schools everything aligned we were able to get our money under control get a foundation under control with our finances and then when we bought we did it properly after that two years and so that that's what i'm telling you hey good question and go ahead and make your move but

just rent will is with us will's in grand rapids michigan hi will how are you hey hey mr ramsey how are you today better than i deserve sir how can i help um so got kind of weird story i'll try to be quick uh my wife and i were in a vehicle accident last October 2016. She sustained a traumatic brain injury. And it was actually the same day that we found out she was partying with our son, who has since been born and is healthy, although she is still in a neurorehabilitation clinic. So she's doing better. We communicate via head nods, although she hasn't spoken yet. Um,

and she's just, uh, she, she's just chugging along and the boys growing up to be healthy, um, as a father or as the boy's father and, uh, and, uh, and a loyal husband, I'm trying to figure out the best way to proceed financially for us. We received a settlement, uh, from our vehicle accident. Uh, my wife and I have always lived debt-free, sans our mortgage. You know, we tried to live by the Dave Ramsey principle.

And now that we have the settlement money, I'm not really sure what to do with this. And I was wondering if you would think it was advisable to pay off our mortgage. I can't imagine what you guys have been through. I'm so sorry. It's a lot. Thank you, though. I appreciate it. We're a tough family, though. Yeah, you are. And you'll make due, but my goodness gracious. Okay. How much was the settlement? The settlement was $435,000. That sounds awfully low. Yeah, well, it's not, you know, the stuff you see on TV is not the norm,

but that's insurance in Michigan. So basically what happened is the person didn't have much coverage and you maxed out their insurance company. Correct. Yeah. And then they were, of course. Now, in Michigan, we do have auto no-fault, which provides ongoing medical care for the rest of Lauren's life for anything medically related to the auto accident.

So we're covered there for any of her injuries. Okay. And so, in a sense, this $135,000, so to speak, is clear because her care is taken care of. You've got the care of a child by yourself that's going to be more expensive than if she were at home with you. But other than that, your expenses associated with the accident, ongoing expenses from this point forward, are not an issue. Is that what you're telling me? Our two largest expenses right now are private health insurance because I took time off to spend with my wife and child after the accident.

So I've been not working for about a year and a half and living off of our savings. We still have quite a bit of liquid assets. What's the balance on your mortgage? The balance on the mortgage is $95,000. And what's the balance on your liquid assets, not counting this $135,000 settlement? Not counting any of the settlement money, our liquid assets are $38,000. All right. I want to think about this just a second.

Hold with me through this break. I want to make sure I get this one right. This is the Dave Ramsey Show. Your goal this year is to get rid of your debt, but here's the deal. In order to keep your momentum going past January, you have to make small changes that get quick results. That's why you need to attack your debts smallest to largest. I also recommend you look for ways to find extra money to pay off your debt sooner. It's there, I promise you. Take a look at your mortgage. If you call my friends at Churchill Mortgage and request a five-minute checkup,

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NMLSconsumeraccess.org. Equal housing lender. 761 Old Hickory Boulevard, Brentwood, Tennessee 37027. All right, we're talking with Will in Grand Rapids. His family has been through a tragedy, a bizarre car accident, and his wife received brain injury. She was pregnant at the time, has delivered the child healthy, healthy child since, but she's still in a center where she's not verbal yet. And our prayer is, of course, in his is that she is able to return to the family someday

in full health. They got $135,000 was all out of the settlement. But in Michigan, the no fault pays for all of her medical bills for her whole life, her medical care for her whole life, her medical care for her whole life. And he has a $92,000 mortgage, $38,000 in other savings. Is that a fair summary of what you told me, Will? Yeah, yeah. The only thing we didn't include was the retirement savings. So we do have the liquid assets as well.

Right. But how much is in retirement? Just curious. About $32,500. Not much. Okay. All right. How old are you uh thirty three all right uh here's the thing if you pay off the house today and um that means then that you have about seventy thousand dollars in the bank

and your income doesn't restart fairly soon that could get you into a pinch you're dangerously low on cash right now before the settlement came 38 000 feels like a lot it's not a lot it'll go away pretty quick i mean how much savings did you start with when all this began i think we had uh it's been about a year and a half i think we had closer to about 80 000 yeah okay so you made it you made it a year and a half on 40 grand well no you worked part of that time right uh we did we did okay all right so you did you quit your job you got laid off from your job or you're going back to your job my work was actually the work was actually very nice they paid for about two months um while I attended to my wife in the hospital.

And then I began to work with another friend for a couple of months after that. So what is your work plan, your income-producing plan going forward? I've actually started, well, last month I started applying to several jobs in the area, and I have a job interview this Friday. Okay. So Lauren's in a good enough spot where I think I'm ready to head back to work. Okay. And your child is your only child, right?

Correct. And who's going to care? We get quite a bit of care from family members. All right. So you've got some ways to take care of the baby during the day while you work. Okay. Yes, sir. Good. All right, so you've got some ways to take care of the baby during the day while you work. Okay. Yes, sir. Good.

All right, and what is the job you think you might be getting or whatever? What do you think you're going to be making when you're back to work? I would say probably low-end, maybe anywhere $45,000 to $50,000. Okay, all right. And can you make it on that? Oh, yeah, absolutely. Okay, all right. Yeah, my wife, I think she might be the only person that might give you a run for your money, Dave.

Gotcha. She's pretty frugal. Gotcha. Y'all have done very well. Okay. Well, here's what I would do. Let's, out of an abundance of caution, let's get the job. When your first paycheck comes, use the settlement money to pay the mortgage off.

Okay. first paycheck comes use the settlement money to pay the mortgage off okay until then i just want to leave it there in cash because y'all been through enough hell without running out of money okay yeah no i understand that i don't think you're gonna run out of money i think you got this dialed in i mean you made it a year and a half on i don't think you're gonna go another year and a half and you could make it on 40, and you probably are okay nine times out of ten, but you've just been through enough without running out of money. So let's just push pause just for a second. Let's skip a step. I mean, let's just hold up just a second, get the job, get the paycheck.

Now we've got income going forward. We don't have to worry about that. There's nothing left on the list to worry about money-wise. And then let's write the check and pay off the house. Is that logical to you? That sounds great. Yeah. I'm so sorry you guys have been through that.

And your wife's Lauren? Yeah, yeah. No need to be sorry, Dave. It's helped us grow closer together as a couple. So, I mean, we're going to make it. Oh, you're going to make it. I mean, I wouldn't wish what you've been through on anybody. But, oh, my goodness. But, yeah, I'm not saying you're not going to make it. Oh, you're going to make it. I mean, I wouldn't wish what you've been through on anybody, but oh, my goodness.

But, yeah, I'm not saying you're not going to make it. Wow. Hey, thanks for calling in, brother. If we can help you more, you just let us know. Open phones at 888-825-5225. Our question of the day comes from Blinds.com. You upgrade your home with Blinds.com, the number one online retailer of custom window coverings. With Blinds.com, you get free samples, free shipping,

and with the new promos they run every month, you'll save even more. Use the magic word, the promo code RAMSY, and you get the best possible deal. Blinds.com slash RAMSY. Today's question is from Tracy in North Carolina. For years, my husband would not consistently help with the finances. He would be involved for a bit, but then leave it to me to shoulder alone. Now he wants to get involved, but I'm having trouble giving up the control and respecting his decision to be involved.

What do I do? I think it's logical that you don't trust him because he doesn't play through. I mean, you're going to give up some of the control here, and then he's going to walk away again maybe. I mean, that's what's bothering you in the back of your mind. So I think what's going to happen is that you guys are going to sit. You're not going to give up the control. The only control you're going to give up is that now he has a vote,

and he's always had a vote, but now he's actually going to take his vote, which means we're going to look at the finances together. Not he takes them over and you don't do anything um and so you're not giving up control because your vote is still there you still have a vote the two of you look at the finances together and decide what you're going to do um the only trouble you've got is is that he's giving input now and you're a little worried that you you know, six months from now, this may wear off again. And that's a reasonable thing, given his track record. So the more he is around, though, the more you need to forgive the past.

And then just the more he's plugged in, the more you forgive the past, and you move on, and, you know, you get used to this. But, you know, I don't want you to, you're just saying respect his decision to be involved. And that's really all it is. It's having trouble respecting his decision to be involved. Yeah, I kind of get that. I mean, you're like sick of this. But, you know, it is the best way to handle money for couples to work together and make decisions together. And then typically one of you is the more administrative. We call that person the nerd.

And the more administrative people are usually the ones that actually implement the plan that the two of you put together and create. Alex is in Sacramento. Hey, Alex, welcome to the Dave Ramsey Show. Hi, Dave. Hey, what, welcome to the Dave Ramsey Show. Hi, Dave. Hey, what's up? Well, question. I'm just sort of getting into your show, and I'm really, really appreciative of all your advice.

My situation is I just finished all of the actual final legwork of my Chapter 13. I unfortunately kind of had some major health problems. So everything is gone, literally. And I was scared into paying a lot of my medical bills on credit. So I had to declare bankruptcy. And so my question is, what do I do when this next three years is over? What can I do to kind of get myself in a good situation? I'm 33. And like I said, no savings or anything. I do have student loan debt, which I'll have to tackle, but kind of where I'm at.

My payment is manageable. I have a car. My car payment is outside of my bankruptcy plan. So you said three years. A Chapter 13 bankruptcy is a five-year plan. Mine's a three-year. I filed in Utah. I don't know if that makes any difference.

No, it doesn't. But you just filed? When did you file? When did I file? Yeah. It was all official in August, and then I moved to California. Okay, so your bankruptcy has just started, and so you're in a Chapter 13 for three years. Is that what you're telling me, more?

Okay. Well, that's dialed in. I mean, that's all set up, and you've just got to play through on that. The student loan's outside the bankruptcy, and the car you left outside the bankruptcy, so you can just pay those off, begin to work through, and let's get those debts cleared as soon as possible. If you do get those two cleared, then I would start talking to the trustee at the bankruptcy court about the possibility of you prepaying some of your Chapter 13

and getting out earlier. Oh, I didn't even know that was an option. Yeah, it is. But you need to get these other two things paid off first. So pay off my car and my student loan. Which one is smaller, the student loan or the car debt? The car. Okay, yeah, get that one paid off first,

and then let's go ahead and get the student loan paid off. When they're both gone, then let's contact the Chapter 13 trustee and say, hey, you know, there's a year left on this thing. I'd like to go ahead and pay it out and be done a year early, and they will work with you and put together a plan. Of all the people in the bankruptcy world, the Chapter 13 trustees are the smartest, the best of the ones out there. Between the lawyers, the judges, everything. 13 trustees are awesome. Do you know who is a prime target for identity theft? Your children.

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Hey, what's up? I'm 26 and my husband is 30. We're on baby steps four, five, and six. And when we originally bought our house 4 1⁄2 years ago, me and my husband were both working full-time. Now I stay at home with our two children. So our house mortgage is a higher percentage of our take-home pay than we would like. It's at about 38% of our take-home pay.

According to my husband's projected increase in income would like um it's at about 38 percent of our take-home pay um according to our according to my husband's projected increase in income in about one and a half years it'll be more like 30 percent of our take-home pay so what my question to you is do you think we should downsize or stay in the house we're in now other than this discussion is there a reason to move no it's just the um the amount of the mortgage right well i think the point of saying we want your home mortgage you know under under 30 down around 25 of your take-home pay as a goal and certainly if you're going to purchase that's a guideline we use is just so that you're not house poor and over the scope of your life the house payment doesn't eat up your all your money in order to save for save and give right

and invest and so um the point is is you're there now but shortly within a year or two years you're going to be fine if his income continues to increase as projected so i'm staying okay it's not a permanent thing it's not got you in debt you didn't tell me i bought a car on debt because my house payment's at 50 percent that and i don't know when my income's going to go up you're not out of control you're being very methodical very intentional with all your decisions and your money and um and you're heading everything in the right direction and you know based on, I think I'd keep it. The only thing that's frustrating to us is we just don't feel like we have, you know,

extra money to do as much funding as we would like. You don't. So that's what keeps us frustrated. But do you give up the home and then move twice in the next 10 years, once out of this, and again into something bigger and nicer later when your income goes up, or do you just wait this one out? Okay. Because that's what's going to happen.

If you move this just to get your ratios right, when your income comes up, you're going to move again, back up, and legitimately so. Most likely. And I plan on going back to work full-time eventually when the kids get older, too. How old are the kids now? Eight months and three. Okay, and so what is your game plan on that? I mean, that might change, but for today you're planning on doing that when they reach what age?

I don't have a specific plan. I'm still working a few hours a week now just to keep... I'm fine when you're not working. I'm just saying, what's your plan? You think when they're five and they're eight months right now? Yeah, I'm thinking when they go to school. Yeah, that's what a lot of people would do. Okay, and so let's talk this through then.

A year and a half from now, you're at 30%. And a year and a half later, two and a half years later, you're at 15% when you go back to work or whatever, right? And so it's a temporary strain on your investing. But it's temporary. It's not a long-term thing. And, you know, if you were told me this is how it's going to be for 15 years, then I'm thinking, you know, I might move down. That thing's eating your lunch, you know.

But it's okay if we're using not our emergency fund, but some of our savings to make it each month, because sometimes we are in the negatives as far as income versus outgo. While saving 15% of your income? Mm-hmm. Okay. I mean, so the 15% of your income is driving you into the negative. Mm-hmm.

Plus the 38% on the house. Well, you know, you're using your savings to invest is what you're doing effectively. Basically. On those down months. So I might even back it up. It's not every month, you know. It just depends on the month.

How often? How many months out of 12? I would say 50% to 75%. Oh, a lot. I'd back your 401K down to 10 then. Okay. And then when a year and a half comes around, you get these ratios straightened out, I'd crank it back up.

That is if you can't find the holes in your budget. There might still be some holes in your budget. I'd be looking for those. But in order for your 401K to be funded at 10% versus 15% for a year and a half, I wouldn't move to accomplish that goal. It's not that desperate a goal. And certainly in the next four years, the eight-month-old will be five, and, you know, the income situation is going to change substantially then.

So, yeah, I'm sitting there, even if you back your baby step four back a little bit, as a temporary measure, just because of the expense of moving, if you don't want to sell the house anyway. Okay. Yvonne is with us. Yvonne is in Chattanooga. How are you, Yvonne? I'm fine. Thank you for taking my call.

Sure. What's up? Well, I have a question about life insurance for me, but it's because I have a daughter with special needs. She has spina bifida. And I'm not sure how much care she's going to need in the future. She may need to live with somebody the rest of her life. She may get a job and be able to support herself later on.

I don't know. But I've heard, you know, life insurance term life for as long as I can get it, 30 years. I'm 44 and she's 10. But then I've also heard do you have a small policy of whole life so that if I live out for 30 years, there's still something there for her if need be. Okay. Well, the emotion around the issue changes a little bit and the distance that you need money she's going to need money changes so because of the special needs but that's all that changes

the concepts are still the same and the concept is this you buy term life insurance until you are debt free and build enough wealth and so over the how old are you i'm 44 how old is she 10 how old 10 10 okay so 20 years from today you're 64 and she is 30 right all right and during that time you have become debt free and you have put five hundred thousand dollars in a mutual fund in your 401k i don't see that happening why how much do you make are you single well no my husband works but right now she still um needs enough attention I still need enough retention that I'm not able to work. What's the household income? About $40,000. Okay.

So here's the thing. What you just told me was on $40,000 a year that you have to retire broke. Well, I wouldn't go that far. I just don't see me being – I'm leery of the kind of money put back. I don't see how I could manage it at the moment you're just telling me that i don't see how i can retire anything but broke yep that's it yeah and that's that see now we got into the core issue okay because that that's a false premise and you do not want to build everything on that i know you can't see it today but that doesn't mean it can't happen people that make

forty thousand dollars a year retire all the time with money it happens all the time other children and it's going to take me a while to get that free so how much debt do you have about close to $20,000. On what? On my mortgage. On what? Mostly just credit card or medical bill. Okay. All right. Have you cut them up? All but one. Yeah.

You're not there yet. I still have that. I still have that. I'm scared of something happening, not having the funds to buy gas or, you know, take it on. This is why you're not going to be having money in your retirement plan because you're going to give it all to mastercard i'm trying my best not to well but but you're hopeless about your future using your current plan you follow me i mean it's illogical so um doesn't make sense so here's the thing you cannot get enough life insurance to offset being broke when you are old as a matter of fact if you do it'll ensure that you're broke

when you're old so we've got to get your household finances under control and get rid of this debt get on a budget get the incomes up over time his whatever, and then build some retirement. If you do that, your need for insurance goes away to take care of her because she will have money to take care of her, which is a lot better than insurance. That's the target you've got us, America. We're glad you are here. Open phones at 888-825-5225.

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When you open the hood, I can't even tell what's under there. So, I mean, there's some things you hire professionals for because it's cheaper ultimately. You don't tear it up. Carrie is with us in Phoenix, Arizona. Hi, Carrie. How are you? Hey, great to talk with you. I'm so excited to talk with you.

You too. What's up? Well, I'm just trying to figure out how to make my finances work for being able to do some home improvements. I don't have any debt. Good. I do have a mortgage. Okay. And I've kept a budget since I was 17 years old, so I'm pretty comfortable with that.

Good. And my income is about $50,000 a month. I am self-employed. Did you say that right? You just said $50,000 a month. Oh, I'm sorry, a year. Sorry, sorry. Okay, I'm just checking.

I didn't know who I was talking to here. I'm just a little nervous. That's okay. I'm just making sure I got it right. All right. Yeah. That's a little different savings. I would have no problem. Yeah, you wouldn't have been calling me, would you?

I have a kitchen over here and a bathroom over here. All right, so $50,000 a year. I'm very frugal in terms of doing home improvement. I've learned how to do a lot of DIY kind of things. But my house is going to need a roof pretty soon i don't know if it's going to be a couple months or or maybe a year what's that going to cost um i'm thinking i'm estimating about 10 000 but i haven't gotten somebody out here to give me a few estimates so i don't know i'm just kind of going off what other people have been saying yeah get

at least three bids so yep okay uh with uh local people people that have a good reputation that you can trust. I generally own roofing. Don't take the lowest bid. My problem is being able to pay for it without going into debt. I don't have any debt right now other than my house. How much do you have saved? And I have my six-month emergency expense saved, and then I do have about $100,000 in my investments. Is that in a retirement account?

Yes. Okay. So you have $100,000 in your retirement funds in an IRA or 401 case, and how much is in your emergency fund? $20,000. Okay, good. And you don't have any payments in the world except your home? Well, just my house payment.

Except your home. Okay. And you live on a budget since you were 17. You have done a wonderful job. How old are you? Thank you. I'm 54. So I feel like I'm way behind the mark because I didn't start investing until I was 37.

You're behind, but I don't know if you're way behind. Okay. I feel like I'm way behind. But you're a worker, and you're a saver, and anything we can do to get your income up in the next 20 years would be another discussion to have right that's the other thing that i've been looking at is like you know doing some sort of side hustles or something like maybe a youtube channel or a blog or just you know any number of things cool good all right well as far as the um the, the first thing I would do is get some bids.

And so we know exactly what our target is. And then we start breaking down how we can get to the target. And your emergency... And I also have, I'm sorry, I didn't tell you, I also have horse fencing I'm going to need to upgrade because it's practically falling apart. You have horses? Yeah. How many?

Two right now. I am getting rid of the one, so I'll just have the one. Okay. And how much will the horse... Horses really are not that expensive, like a lot of people think. Yes, they are. How much is the horse fencing? Not for me.

How much is the horse fencing? My horse expenses are $150. How much is the horse fencing? The horse fencing is probably going to be another $10,000. Okay. See, that's kind of like expensive. Well, that part is, yes, but that will just be a one-time thing. Yeah, so is the roof.

That I can wait on. I can probably wait on the horse fencing. Okay. But my roof, I can't. You're right. You're right. Let's get the bid on each and begin to lay out a five-year plan to do both and uh yeah i don't know if my roof will wait five years i didn't say that i

said to do both oh okay fence is second we're gonna do the roof as soon as you need to do it if it starts leaking it's called an emergency we're going to use some of this emergency fund and then backfill there your 20 000 is a little thick for a single lady making $50,000. That's a heavy emergency fund. So I would be comfortable with you using some of that, not half of it, but some of it to get there. So let's save some and use some of that. Knock that out. Knock the roof out.

And then we'll start saving systematically towards the horse fencing. And you may even do the horse fencing in a couple of segments. You don't have to do it all at once, necessarily. There's probably some savings if you did it all at once, but there's nothing to say you can't break that into three jobs or two jobs for the horse fencing people. They will come out for $3,000, believe me, and do three sets of it or something. And just work your way right through it systematically. You're a systems person.

That's how you've gotten to where you are. And you're doing a really, really good job. And then, yeah, I would explore that side hustle stuff. And I'll send you a copy of Christy Wright's book, Business Boutique, Equipping Women to Make Money Doing What They Love. It's all about helping ladies start and or run businesses successfully, and it includes starting something as a side hustle. So I'm going to send you a copy of that.

You read it. Jump on that Business Boutique community, too, after you get the book because there's a lot of ladies in there with great ideas and help you work through your ideas and figure out something to do. And Christy will as well. It's a brilliant, brilliant community. The brainpower around this thing is absolutely amazing. So hang on. I'll get you a copy of Business Boutique, brilliant community. The brain power around this thing is absolutely amazing. So hang on.

I'll get you a copy of Business Boutique, the book, and get you started in that direction. I started doing a budget when I was 17. Something most of us can't say, right? Most of us, you know, when do we start doing a budget? Eh, when we had to because what we were doing wasn't working. But you know what? The same thing is true in our company.

I mean, we make people do budgets here. You know, we've got 14 different profit centers within our organization, and each one of them has to project their revenues project their income for the quarter for the month and for the year and thereby project their profits and uh that's called running a business and you know if you manage money for you incorporated you manage money for you incorporate the way you manage money for you now would you fire you that's the preeminent question isn't it and gail has managed money very well. Not Gail.

I mean the lady from Seattle. Wherever she was, she's done a great job and a really, really, really good job. So very well done. Good job. That puts this particular hour of the Dave Ramsey Show in the books. Thanks to James Childs, our producer, Blake Thompson, our senior executive producer, and Kelly Daniels, our associate producer and phone screener. I am Dave Ramsey, your host, and we'll be back.

Hey, it's Blake Thompson, senior executive producer for the show. You know, you can listen or watch anywhere with the Dave Ramsey Show app on your smartphone. Catch the full show or watch the highlights and check out Dave's upcoming guests. Head to the App Store and download it today.