The Ramsey Show - App - My Bank Is Pressuring Me To Take Out a Business Card (Hour 3)

Episode Date: September 20, 2021

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Live Live from the headquarters of Ramsey Solutions, broadcasting from the Dollar Car Rental Studios, it's the 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 jumping in, America. This is your show.

Open phones at 888-825-5225. Ken Coleman, Ramsey personality, number one bestselling author, and host of the new book, From Paycheck to Purpose, The Clear Path to Doing Work You Love, is my co-host today. So we'll take your questions about your life, your career, your job, which he talks about on the Ken Coleman Show every day on 75 radio stations, a podcast, and YouTube. And we'll take them right here as well.

And we'll talk about your life and your money. Free call at 888-825-5225. Christy is with us in Asheville, North Carolina. Hi, Christy. How are you? Hey, Dave. I'm good. Thank you so much for taking my call.

Sure. What's up? First, I wanted to say thank you because just going through your program, we are debt-free, including our home. Yay. Thank you. Yes. So we're doing step four, and we're about to start step five

our daughter is seven years old and we're trying to decide between the 529 or the esa and kind of leaning towards the esa because by the time she's 18 that'll probably be enough because we don't want to put too much and you know know, pay for stupidity. So I just kind of wanted your opinion on the differences. Okay. All right. Well, to clarify, if your home is paid for, you're at Baby Step 7. And so now you're continuing to save for retirement, continuing to save for college, but this is all just wealth building.

Baby Step 7 has just become wealthy and outrageously generous. So if you have an emergency fund, you're 100% debt-free house and everything, you're at Baby Step 7. But anyway, the ESA and the 520 and our kissing cousins, obviously, they're very similar. ESA is Educational Savings Account. It is only one thing. It is only $2,000 a year, and it is only for people that make less than $200,000 a year household income,

and it only grows tax-free, and there is no tax deduction for what you put into it. And so if you put a mutual fund into an ESA, it's going to grow tax-free for the number of years. You can put up to $2,000 per year into that. And that's it. Very simple, very cut and dried. It can't be anything else. 529 has a bunch of things under that heading, a lot of which we don't recommend. For instance, prepaid college plans with some of the states are technically 529 plans.

There's another kind of 529 that locks in the investments, and they're frozen. You can't move them once you pick them. They're fixed the entire time. No flexibility. Bad 529. There's another kind of 529 that's a life phase, where they move the investments to more conservative investments, less risky investments as the child ages automatically. I don't want you to do that.

I want you to manage the money. Okay? The only kind of 529 we have is where you pick the mutual funds, just like you do in the ESA. So they're just alike like that. You invest in them, and you completely control them. They will not move unless you move them. And no one else is going to do it for you, and you're in charge.

Okay? Just like the ESA. Now, so once you've done that, if it's that kind of 529, the differences in the 529 and the ESA are not many. Both are after-tax investments. Both grow tax-free. Both allow you to control and move the investments inside of them as many times as you need to, and within the mutual fund families particularly is a great idea. Okay?

So all of that's the same. You do not have an income limit, a household income limit of 200,000 on the 529. And you are not limited to the $2,000 per year. Most 529s allow up to $10,000 a year, some even more. So if you want to put more money in or you make a little more money, that type of 529 does exactly the same thing, but allows you to put in a little bit more and deal with a little bit more. Or like if you're playing catch-up and you make $300,000 a year, you want to dump some money in, that's fine. But if you've got a baby and you make under $200,000 and you can drop $2,000 a year into it, you're going to be just fine.

You're going to have a lot of money. You'll have $150,000 probably in there. But if it's in a good mutual fund by the time that baby's 18 and like you said that's enough to get start making some really good choices you're probably going to have some other wealth if you want to add to it um and you're going to be in really really good shape so very well done it's an interesting discussion and it's great to get ahead of it isn't it ken it really is because when you start to think about you know if any investing advice or thinking about in thinking about putting money away and watching that compound, it doesn't have to be a lot. And that's a wonderful example of how you can – well, I mean, $150,000 for one kid is more than enough for any kind of quality education that you're looking at today.

I don't know about 20 years from now. Well, that's a great point. That's a whole other discussion. Yeah. And it's a good discussion to have. It really is. Because higher education education i think it has problems uh it's very susceptible right now there's no question i think this idea that they

just get to keep raising the price forever is over i do think that is over i think you're gonna see the cost of it i think you'll see a splintering um you know i think you're gonna see more and more organizations training people for the jobs at hand google's already doing this they've come out and it's very, very clear move into the marketplace, and you're going to see other large companies come alongside of them. So that should be plenty of money, we hope. I think it will be, but that is a separate prediction and conversation. But the cost of college and higher ed is going to have to be reckoned with because I think this student loan, of course,

we've got this great documentary coming out, Borrowed Future. It's going to absolutely punch all this right in the face. And I hope, tip the domino, I believe Borrowed Future, our documentary, could be, Dave, the tipping point that finally I believe we make this a more mainstream conversation. We all are pretty much in agreement that the student loan program is an epic failure. Absolutely. We're all pretty much in agreement that this student loan program is an epic failure. Absolutely. We're all pretty much in agreement that this unfettered flow of money out of Washington to these universities has caused them to, without reservation, raise price after price after price after price after price. So the supply of cash has driven the price up unbelievably.

And then you add to that, the pandemic comes along, and now they want to charge just as much for you sitting at home. That's right. Now there's no football games. Yeah. Well, now there is. But, I mean, now there's no campus experience. No, nothing. Now there's no this, or you've got all this woke stuff and other stuff going on to the point people don't,

they're not even going for education anymore. Now we're going for the cultural experience. Right. And nobody wants to pay $200,000 for that anymore. No. And the swollen endowments, right? We've got all this money sitting over here and we're not helping kids that need some financial aid the narrative is just

really snowballing poorly yeah it's not it's not going to go well for higher ed um and i'm not against higher ed no we're not no we are not we're proponents of it but um i want you to be sure and check out borrowed future it's going to be anywhere that you want to plug in to see a paid documentary. It's fantastic. You'll be able to watch it. It's coming out in October, the 13th. 13th, I believe it is, yeah. Yeah, I think so.

I hope that's a Friday. No, correction? Do we have that right? Yeah. What is it? What are you saying? 14th. 14th.

Okay, good. Okay, good. Close enough. You'll be able to find it right there in the middle of October. Yes, sir. Borrowed Future. It's a big premiere. We did a whole thing here the other day with it.

The whole team watched it, and it will make you so angry when you see how nasty these people are behind the scenes. This is The Ramsey Show. Imagine a world where people never have to worry about money ever again. At Ramsey Solutions, our mission is to teach people how to get out of debt and build lasting wealth. And if that means we have to take on the toxic money culture that says you need debt to get ahead, then we're okay with that. We've seen millions of lives changed, and front-end technologies. Or if you're a UX designer or an SEO and content marketing specialist, we'd love to talk with you. Together, we will disrupt the toxic money culture in America.

Find out about all the available jobs by texting careers to 33789. Text careers to 33789 to find out about all our open opportunities. Ken Coleman's new book is From Paycheck to Purpose, The Clear Path to Doing Work You Love. Ken, this is more than just climbing the career ladder. This is more than just making more money. Yeah, this is about income and impact. Everybody wants to make a difference in this world. We just do. It doesn't matter where you're from, what you believe, your politics.

It doesn't matter. Everybody wants to make a difference. And there is this worldview of work that says, I just work to be able to get a paycheck, to be able to live. That's the provision piece. But you and I know that there's contribution. And that's what that title in four words really outlines. The provision is the paycheck, but purpose is the contribution. And this is a seven-stage clear path is what this book is about that not only helps you figure out what meaningful work is, what work that I love to do,

is what is this work I was born to do, this contribution I was created to make. It only helps you there, but then it walks you through the journey. It's not just get clear. It's then get qualified. How do you get qualified the right way for less money but gets me into the door?

How do I get connected so opportunities show up and knock on my door? How do I start? Where do I start at the right place so that I'm on the right ladder? How do I get promoted? That bigger shovel. Hello, more money, more impact. How do I get the dream job, and then what? What does it mean to give ourselves away?

That's just a real quick pass through the seven stages, but it is a clear path that shows you what you could do and tells you that you should do it. And it demystifies this climb that so many people think. And, you know, I was just thinking for a moment when I talk about this, why did I write this book? And what is, how does this play into the money game that we talk about? I've never once, now I'm sure there's been one or two, but I've never once in my time here, seven years at Ramsey Solutions, heard a debt-free scream where the income did not go up on some level.

And there's more to it than just, you know, well, we were getting after it and we were trying to hustle through it. There was a vision. And that's what drove everything else. The intensity, the gazelle intensity is about the vision that baby steps give. And this idea of working for purpose, it's more than just income.

And we can help you get the bigger shovel and move up. But more importantly, we want you to do work that you love so that when you get to the end of your life, Dave, you look back and you reminisce on the impact you made. You don't regret that you just worked for a paycheck. And that's what this is about. Yeah, this is a lifelong guide. Yeah, this is a quick thing. yeah this is not just you need a better job no no this is not a this this is going to walk with you the whole way building your

career helping you step through the leadership ladder making an impact coming home and going because what satisfies you and rings your purpose bell today won't 10 years that's correct your vision grows i've always run ramsey for 30 years based on purpose but my purpose has evolved and yes it has as i've done for sure that's right and so that would be true in any career path i'm no different than anybody else in that regard yeah so if you pre-order today the book will come out november the 9th and we will ship them to you to where they're on your doorstep that day. You're going to get also the Get Promoted bonus pack, $20 for the book, and it includes over $100 worth of stuff. Now, here's what comes free, the Get Promoted audio lesson from Ken, the disc assessment, The Disc Assessment, and from Paycheck to Purpose live event, and a 30-day free trial to Ramsey Plus and more,

and over $100 worth of free stuff total to get you started and get you set apart from the competition. Ramseysolutions.com to preorder the copy of the new book, Paycheck from Paycheck to Purpose. Only $20. Again, street date on this is November the 9th. Our question of the day comes from Blinds.com. Find out for yourself why Blinds.com is the number one online retailer of custom window coverings.

They do a great job. That's it. They have free samples, free shipping. The new promos they run all the time. You'll save even more. Use the promo code Ramsey to get the best possible deal. Today's – oh, sorry, Dave. Go ahead.

Rules and restrictions apply. Cut him off, folks. That's right. I'm so excited to get to Amy's question from Kansas. I applied for a job with a salary range of $16 to $18 an hour, which would be a raise from what I'm making now. I went to the interview, and I know I did well. They looked up how much I should get paid for the job based on my credentials, and it came out to about $25 an hour.

I'm afraid that their budget may get in the way of me being considered for the opening. This job is very specialized, and it's not something everyone can do. Would what I should be paid disqualify me from getting the job? So what Amy's asking here is is is hey they looked it up and they think i'm going to want 25 an hour uh but uh the 16 18 you're not going to stay because you're going to get 25 that's right so what do i do so here's the deal it shouldn't keep you from getting the job amy if you communicate properly and the fact that you've already they've already told you well we think it's 25 an hour is what uh could make. You've got to go, hey, it was advertised at 16, 18, or that's what you told me,

and I'm thrilled to jump in at 18. I'm ready to go or whatever they offer. I want to prove myself. I want to grow. I want to do this work. Don't let that bother you. I think this is a good fit. You've got to communicate that.

And I think that humility, but just straight-up honesty that you want the gig and tell them why you want the gig uh don't let their worries and their fears or what you think may be their worries and fears fit into this you just tell them i want the gig and i'll be thrilled to take the gig so and you know and here's the thing the kids my kids years ago there's a thousand years ago they were teenagers it feels like but they had this thing what they did and they called it awkward turtle right and that was if a conversation is awkward yeah what do you do oh this is awkward it's an awkward moment right and you know that's

what this is that's exactly right and the best way for the elephant in the room to magically disappear is to say there's an elephant in the room great it's so true yeah yeah he goes away yeah here's the elephant you guys looked it up and this job pays 25 an hour you don't have the budget for that you're afraid i'm gonna leave because somebody's gonna offer me 25 an hour i'm saying i'm not doing that i'm taking the job you need to hire me this is a done deal quit your fretting yeah you say that poof yeah there's nothing to be tense about here yeah and just the only question is whether they believe you on that or not but here's the thing people are paying some ridiculous figures yeah for jobs for people to move now i'm hearing just some bizarre numbers on things oh out there just to get human beings to show up to work

yeah it's gonna blow their mind when you tell them you want the gig yeah they're gonna look at you like you got horns growing out of your head. You know, we get in trouble sometimes. Boy, I've been married 23 years, coming up on 24 years, and the biggest trouble I've ever gotten into, Dave, with Stacey, is when I try to assume or try to anticipate what she's thinking, as opposed to just talking to her plainly or asking her questions. When I try to anticipate or try to analyze something that's not there boy we get this thing all worked up in our head and it's not that big a deal

just tell them i want the gig there's so much low-hanging fruit here that i could come with there's no way that you could know what's in stacy's head because it's way smarter than yours that comes to mind that's just one item you absolutely right. That's just one of the myriad of reasons why I shouldn't do it. Oh, my gosh. No, I mean, yeah, the thing is, if something is weird, stressful, the demons around this, they don't like light. Yeah. And when you shine light on it, they run for the corners.

The roaches run for the corners as soon as you turn the lights on. Yep. And awkward conversations have that sense to them that, you know, this is a difficult thing for me to cover. Yeah. This is a hard thing for us to talk about. This is a weird thing for us to talk about. But by talking about it, it loses all of its power. So true. Yeah. to talk about uh but by talking about it it loses all of its power so true yeah and many times what

we think is going to be awkward for us isn't awkward for the other party so just be an adult have a good posture a good spirit about you and as you said i was in your shoes i might be thinking she's gonna leave and take the 25 dollars take send somebody else. Yeah, I love that. So why do I want to put her in there only to lose her in just a few months? I want you to know I've already thought about that, and I plan on staying, and I'd be honored to take this position. I would like to know how I can even add more value over time to where I could make $25, but you'd be happy to pay me that because I made you $50. That's correct. So, I mean, that kind of a conversation is really powerful and oh yeah as a follow-up after an interview that would be pretty

strong yeah they'll be in a hurry to sign you i think so yeah this is the ramsey show Thank you. In the lobby of Ramsey Solutions on the debt-free stage, Evan and Liz are with us. Hey, guys, how are you? Hi, Dave. Doing great, Dave. Welcome. Where do you all live? We are just north of Detroit in Michigan. Oh, wonderful. Okay, like Rochester or?

Ferndale. Ferndale, yeah. So between Rochester and Detroit. Perfect. Cool. Well, good to have you guys. Welcome to Nashville. And to do a debt-free scream, how much have you paid off? $93,000 in 27 months. Hey, good numbers. And your range of income during that time? We started around $80,000 and finished around $130,000.

Good. What do you guys do for a living? Liz works in the home, and I work in systems administration, a lot of automation, PowerShell, that kind of thing. Cool. IT, computers. I can tell. a lot of automation, PowerShell, that kind of thing. Cool. IT, computers. I can tell. That kind of stuff, yeah. So I got to ask real quick, what led to the big jump here? That's a big jump.

Yeah. We got gazelle intense. At some point during our journey, we got to the point where we couldn't scrape any more off the budget and had to just get a bigger shovel. So how did you increase your income 50 grand? Yeah, I know. It sounds crazy. it and had to just get a bigger shovel. So how'd you increase your income 50 grand? Yeah. Yeah, I know.

It sounds crazy. Certifications and a mixture of that and getting the right job. Just found a- You changed jobs? Employers. Yeah. So just working my way up. Beautiful. So you got qualified and you got promoted.

Very good. There you go. Nice. Good work. Wow. And he got the old company to pay for the certification. They paid for some furthering education, and then he leveraged that. Wow.

Yeah. Into his new position. Very good. Well, those certs are very valuable, obviously. Well done. Good for you guys. What kind of debt was the 93? Oh, a little bit of everything, but mostly student loans.

Student loans. Overwhelmingly student loans. How much of it was student loans? I'd say 85. Oh, wow. Hardly anything else. Yes, yes. We had a tiny car loan, a tiny medical loan.

How long have y'all been married? Nine years. One on ten. What happened 27 months ago, two years and some change? Yeah, we finally had the I've had it moment that you've talked about where we were making very decent money, and all of a sudden all of it was going out the door to other people, and it didn't make a lot of sense to us to keep that around.

So we listened to your book on a road trip, or I did, for work, and it just made sense. It clicked. It was within spitting distance. Oh, we could do this. Like, it's not this far-off thing that, like, only superheroes can do. Like, we can just make this happen. Wow, that's a good line.

I love that. Yeah, there's some depth there. This is not just for superheroes. We can do this. Yes. And you are superheroes, by the way, but just the same. So you came home from the road trip and say, Liz, I've been listening to audiobooks. No, I said we should sign up for a financial piece.

Oh. And she said? Well, we had heard about it before. But our good friends at our church, he was leading the class. And I was like, fine, I'll do it. Oh, that made it up. With Greg. Okay.

And so then we took the class together. And I felt like for the first time in our marriage, we were really aligned on what our plan was going to be. Yeah. Financial Peace University, your friend is teaching it. You joined the class. Yeah. Okay.

I'm always interested in this. I mean, I've been doing this for 30 years, but I'm still, it's always intriguing to me because I know how my brain works when I'm going into something like that. I walk into that class. I've got all of my cynical shields. I mean, cynicism is a spiritual gift for me. I mean, you know, it's just like I was I'm thinking there's this is greasy. This is slimy.

This guy is trying to get my money. And and I'm going to be pretty cynical. You might not have been that jaded, but but you still have to not what, you know, it never is what you think it's going to be. You know what I'm saying? Yeah. You think it's one thing, but it was something else. What were you thinking it was going to be, and what was it? I think for me, I thought it was going to be kind of this, like, health, wealth, prosperity, like, just trying to make yourself rich for the sake of making

yourself rich. And I think what really sold me was your vision of generosity to people, that it just had, it's not just about you, it's about, it's so that you can help others. And I used to be a teacher in Detroit before we had kids. And so I just felt like that really resonated with me of this is an important way to get our situation together so that we can do more of what we want to do for other people. Yeah. That does change it. That changes the nobility of it, to say it's about others, because it is.

But it changes the spirit on how you're going. And so you just come home from the first class and say, game on, we're doing it, huh? Yeah. I mean, it was overwhelming at first. When we ran our initial numbers, I think it was like, in five years at this trajectory, then we'll be debt-free. And yeah, but we just saw the Lord's faithfulness, I think, every month just

paying off more than we even anticipated we'd be able to pay off in little ways. And so I think that motivated us. And as we saw on our spreadsheet, just the time kept decreasing and decreasing. Yeah, Evan, it's fun when spreadsheets quit working.

It's going faster than we thought. This is going good. It builds up emotional, psychological, spiritual momentum. Yep, absolutely. 100%. Wow. I want to ask you this. You just talked about that overwhelming,

you know, it's just so much to take in, right? And you go home and you put the first plan together five years. Boy, that feels like forever, right? But at some point, you get to that class. And I'm just wondering how much the community of other people going through it help you not be so overwhelmed with the climb. You're not alone. Speak to that and what that felt like going through it with other people.

Yeah, absolutely. I think the transformation in our marriage was we were at a point where we both felt like we were dealing with finances separate. And then all of a sudden we started having these conversations. And I think the same thing happened within our community at church where we're not having to deal with the separate struggles. But now we're very open with our numbers. I mean, we just televised our numbers to everybody, right? We can be open with that. We I mean, we just televised our numbers to everybody, right? We can be open with that. We can say, hey, we struggled.

Hey, we never talked about finances the first eight years of our marriage, first seven years of our marriage. And it wasn't good. We didn't have shared values. We didn't have these shared things. And it opens an avenue of vulnerability that we all kind of need. That's powerful. And I think a sense of freedom that you're not defined by this.

Like, it's okay. This doesn't define who you are as a person. Yeah, there's a stain on you. There's a brighter future. Removes the shame. Yeah. That's good. Way to go, guys.

Heroes, man. Look at you. How does it feel to be free? Amazing. So good. Was it worth the sacrifice? It was. It was worth it.

And worth it for our kids. And just we have hope for them for the future. So we're really. What was the weirdest thing you did to cut spending down to nothing? I don't know about cutting spending we lived really minimally um but he did some funky things for side gigs before he got the job promotion okay yeah i think the weirdest thing was scorekeeping at a table hockey tournament one weekend for like a cool hundred bucks scorekeeper yeah creds list No, not just scorekeeper.

Tabletop hockey team. Yeah, that is very intense. This is like on your resume right here, man. I love it. That's fun. Wow. Lots of little things. Well done.

Yeah. Score. Ding, ding. I love it. By the way, don't call us and tell us there's not a way to make extra money. The man made $100. Scorekeeping. Scorekeeping.

For tabletop air hockey. Yeah. This this is awesome i love you guys yeah this is that's you're my kind of folk i like that well done hey we got a copy of the legacy journey for you that's the copy that's the next chapter in your story moving on to baby step millionaires you're on your way without a doubt and uh congratulations we're very very proud of you also a copy of total money makeover for you give away to somebody get them started like that audio book got you hooked and then you end up in financial peace university and now you end up here 93 000 lighter all right it's evan and liz detroit michigan area 93 000 paid off in 27 months making 80 to 130 count000 to $130,000. Count it down.

Let's hear a debt-free scream. Three, two, one. We're debt-free! They did it. Love it. Their church and their group at Financial Peace, everybody cheering them on. That's amazing. Yes.

Well done. Good community. You've got to have people around you loving you well. This is The Ramsey Show. Thank you. our scripture today proverbs 22 3 the prudence see danger and take refuge but the simple keep going and pay the penalty dale carnegie said be more concerned with your character than with your reputation. Your character is what you really are, while your reputation is merely what others think you are. In a social media age, Ken, that is a good thing right there to read again.

Yes, it is. Be more concerned with your character than with your reputation. Your character is what you really are while your reputation is merely what others think you are yeah there you go just like that turns out dave too that when you actually are a person of character your reputation is really good most of the time generally yeah yeah yeah but with social... Oh, you mean it all can take out? Yeah, sure, sure, sure. People take shots that aren't true.

But those that actually know you. About you, about me, about this place, you know. Yeah. But a stranger doesn't get to say what they think Dave Ramsey's reputation is, in my opinion. A stranger who doesn't know you. I discount that. You know? They got to know you.

Anybody that knows you, friends, people that work closely with you, you have a reputation. That is what everybody hears and says out there. different that's all i'm going to say okay that makes sense you know okay you're you know when you're a person of character your reputation with the right people takes care of itself yeah i got you okay tyler with the ones that matter yes tyler's in state college pennsylvania hi tyler how are you hey dave doing great how about you better than i deserve. What's up? Yeah, so my question is related to business and checking accounts. I'm a business owner.

I've always operated my business out of a business checking account along with a business debit card. As the business scaled up over the years, my expenses are becoming a little bit higher and more frequent, and my current card only has a $2,500 limit. And each time that I go above that, I get a call into the bank. And each time they're really pressing me on the business credit card. And just today when I went to do it, they actually denied it altogether and weren't going to let me do it unless I upgraded to their business credit

card. So I guess my question is, what do you recommend that? How are you running your business being like a multi-million dollar business and all that? What's your recommendation there? It's time to change banks, dude. Yeah, that's what I'm thinking. Yeah. See, they got confused about who the customer is. The customer was sitting in front of them telling them what he wanted,

and they start putting demands on you on how you're going to use your money in order to have the privilege of doing business with these doofuses. I'm out of there. Man, the spirit on that is pitiful. Yeah. I don't care. Even if it wasn't in violation of what I teach, just the way they treated you today, dude. Right. That's what I'm talking about so here's what

we've had to do uh we've got i think uh lord i've lost count because i don't keep up with it daily anymore i used to be real concerned with it but i'm not anymore i think we've got 150 people carrying debit cards out of our thousand um and a whole bunch of others that have access to the numbers in order to do orders with you you know, around here for business purposes. So, you know, we've got a bunch of them. I obviously have a business debit card on this place, and the revenue is here north of $300 million a year. So I have low tolerance for trying to use that card and it not buying whatever the flip I wanted to buy, okay? Yeah. I mean, so we've had discussions with the business banking unit here

and said, look, my card, I'm not, I mean, you can put $10,000, $20,000 limit on it. The number of times I'm going to buy a car on a card is zero anyway, so I don't really have anything. I don't buy stuff like that all the time, but I also don't want to not have access to money when I've got millions of dollars in your bank. That would piss me off because of your little debit card rules. But so we've had on my personal debit card from the business had them give a special dispensation. They should do that for you.

And, you know, $2,500 is ridiculous. It ought to be at least five and um and you can look at it and you'll probably be surprised the number of times you go above five unless you're doing a bunch of travel or something is unusual anyway yeah yeah so unusually low so um yeah you need to change banks based on that spirit but uh you know we've got different uh people inside this but you know for instance if one of our live event producers is going to book a block of rooms you know we're going into a hyatt and we're going to take down 150 rooms and they want a card well obviously you know a daily limit is going to be a problem on that so you know we and that's how we use our

debit cards here so we we have some interaction with the bank on a regular basis, but we also have higher than normal limits on some of the daily amounts and total amounts on the cards. Obviously, the cash has to be in the account to coverage as a debit card. That's not what we're discussing here. But I think more than anything else, what you're discovering is you have a bank that doesn't understand your value as a customer and you need to find one that does value you by the way we did change banks and one of the reasons was the old bank that i've been

with for a thousand years uh got bought up and bought up a bunch of stuff and became much more corporatized and became inflexible even with with an account our size. They started giving us a hard time on all kinds of different things, and we're just like, you know what? I'm not negotiating with you people. You're just a flipping bank. I mean, there's one on every corner. There's a lot of them that would like to have our account. A lot of them would like to have your account, Tyler.

I'd go get somebody else. What are you thinking? I think you're absolutely right. You know, it's your money, and somebody made a decision on the 5th or 6th or 15th or 25th floor, and I think the spirit is absolutely wrong. They don't want to help you grow. They just got their rules, and I'd take off. I'd go talk to some other bank and go, hey, here's the deal.

Here's what I'm looking for, and look them in the eye and interview them. Interview banks just like you would like one of our ELPs. I'm getting ready to hire you for my banking services. Yeah. I'm a small business. Are you good enough? Yeah. Stay out of my way.

Can you let me do my thing? If so, I'll bring my money to you. What's happening is this. That guy's dealing with a branch manager who's got pressure on him to meet the quota. Yep. He has to move a certain number of credit cards, a certain number of business credit cards a month, and he's got people breathing down his neck. He's got a quota like he's selling encyclopedias door to door.

That's exactly right. And these bankers have been reduced to used car salesmen. Used car salesmen are much better people. And so, sorry about that, used car guys. You guys are excellent compared. But, I mean, they've been reduced to salespeople that have quotas. I mean, if you work in Victoria's Secret and you don't sell a lot of small underwear that's not what they get gauge you on you can sell no small underwear and work at victoria's

secret as long as you sell as long as you sell their credit card because that's what they want ah they want you charging small underwear okay i didn't know where we were going with this i was i was waiting to see what i was telling you this is it is it's all they are in the they're in the credit card business there's always all of those retail i mean it's just you know there's just nothing there there's there it's just it's the same thing with most of these companies yeah you go in a department store why do you think they're pushing the card on you they make more money on that and they do the stinking merchandise absolutely on their shelves on their shelves. It's become that credit card game. And that's what these guys are doing, this stupid bank here.

This bank deserves a good firing. I like it. You're fired. Yeah. Plenty of banks, by the way. I tell you what, I would go interview the smaller banks. Well, you all bet it's Bank of America. I'll just bet you.

I should have asked him. Yeah. I'll bet you it's Bank of America. That's the way they act. It's a big bank or bigger. Yeah, it's not a small local bank. Small local bank would actually care what you think. Yep.

And that's what you need to go with, by the way. Get you a good regional bank or small local bank. Yes, that's what I think, too. We moved to a local. That's what we did. And they can handle us. I mean, we got a lot of money over there, but they can handle it. Yeah.

It's not like we're Mr. – like Jed Clambett and Mr. Drysdale or something, but y'all don't even know who that is out there. I do. You poor people in America. Sadly, I do. You're a television deficit. You don't know about the Beverly Hillbillies. I feel so happy right now that you just said Mr. Drysdale. Kelly's feeling the same thing.

We're the same age. We're not going to say the age so Kelly doesn't hit me after the show's over. I know. I know. You're a little bit older. But Mr. Drysdale, that is classic TV right there. That's classic. I mean, that's a banker who was beholden to the rich oil bearing,

Jed Clampett and the Beverly Hillbillies. And he ran around all the time trying to make his customer happy. That's what you want. It's been since the 1950s and 60s with black and white TV since bankers understood what their freaking job was. That's so good. And it's not to sell you a credit card. That's so good.

It's to make you the depositor happy. Yes. Oh, man. What a lost world we live in. I know. I'm going to go home and watch the Beverly Hillbillies. It's got to be on somewhere. I've got two references to them in three

hours. You have? Have you seen a show lately? No. When you were channeling something? I'm having flashbacks. Okay. From my childhood. That's all it is. It's an old man thing. Old man flashbacks. Ken Coleman, good job today. Good job, James Childs. Good job, Kelly Daniels in the booth. I am Dave Ramsey. We'll be back with you

before you know it. In the meantime, remember, there's ultimately only one way to financial peace, and that's to walk daily with the Prince of Peace, Christ Jesus. Hey, it's Kelly, associate producer and phone screener for The Ramsey Show. If you would like to do your debt-free scream live on the show, make sure you visit theramseyshow.com and register. We would love for you to come to Nashville and tell Dave your story.