The Ramsey Show - App - My House Is Paid Off but I'm Still Dealing With Anxiety (Hour 3)

Episode Date: July 16, 2020

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Music Music Live from the headquarters of Ramsey Solutions, broadcasting from the Dollar Car Rental Studio, this is the Dave Ramsey Show, where America hangs out to have a conversation about your life and your money. My name is Anthony O'Neill, co-hosting today with the one and only Dr. John Deloney. We call him Dr. D, here in the great city of Nashville, Tennessee. How we doing, Anthony? Man, I'm doing well.

How about yourself? Outstanding. How has the last two hours been with you and Chris Hogan? Chris is tough to work with. I'm glad you're here. He is. No, it's been great. I've been loving spending some time with Chris.

Love hanging out on the radio with you. It's good. That's good. Chris Hogan is the voice. One of our other national best-selling authors here. And I'm just grateful to join this hour with the one and only Dr. John D'Annoly. It's been a great four or five months.

And we want to have a conversation with you, so give us a call at 888-825-5225, 888-825-5225. I'm going to say that one more time because I want you to call us. I've been missing y'all. I've been gone for about three weeks. How's your vacation been? Hey, man, let me give the people the number one more time.

All right, give them the number. 888-825-5225. I miss the people. I miss our YouTube family. I don't miss you. Well, I've missed you, so it ain't going to hurt my feelings. You get some good time away? Man, I did. Restore your soul a little bit? I did, man. Bought I've missed you, so it ain't going to hurt my feelings. You get some good time away? Man, I did.

Restore your soul a little bit? I did, man. Bought me a new dog. I had a little puppy, America, so I just purchased a German Shepherd. And so she is in school now for three months getting trained. Three months? Three months. I'm a wise man.

I'm a good steward of what God has blessed me with because I don't don't want to scream at the dog i don't want to yell at the dog you know so i'm getting her goodness house trained potty trained obedience trained on the leash trained and then when she comes home we're going to have a good time because i was wise you said that in a unique way anthony you said i'm getting her trained but right before that sound like you're paying somebody to do all the hard work. I am. He's going to take the finished product. There you go. There you go.

Oh, man. You know, let's go out to New York and have a conversation with Gabby. With Gabe. Is it Gabe in New York? Gabe or Gabby? Yep, it's Gabe. Hey, Gabe. Oh, man.

Sorry about that one. I see my IT people are telling me I should have went somewhere else. But, hey, Gabe, let's have a conversation. Talk to us. How can we help you out, man? So I'm 17 years old, and I've been working like a dog since quarantine hit. And I'm having a hard time spending and enjoying my money. All my friends don't really have the same aspect of money that I do.

Okay. I just get my paycheck, it goes all into the brokerage account, I go and invest it, and I don't even look at it twice. But it's kind of held me back, and I'm with my friends all the time, and I can't prevent myself from eating food out. I prevent myself from going on experiences that might cost me a buck or two. So I wanted to see what you guys had to say about enjoying the money that we make instead of just saving it and how I can get,

how I can get my mind around just spending it in a responsible way. So, so are you, so let me make sure I understand you, Gabe. You're saying that you got money, you have money, but you want to know how do you be a better steward of it? How do you save more? Maybe how do you give more? And know how do you be a better steward of it? How do you save more? Maybe how do you give more? And just how do you really pretty much live below your means? Am I correct?

So I'm great at saving it. I'm great at living below my means. I think I'm too good at it. I haven't enjoyed it. You haven't enjoyed it? The money. Where does that come from, Gabe? Gabe, where does that come from?

That comes from two things, I think. A fear of the income is not going to be the same when I leave for college, so I just want to hoard it all right now. And, I don't know, I've just always been the kind of person who just saves their money, and I don't want to see any of it go. I just want to hold on to it and stack it up as high as I can and hopefully one day enjoy it. Did you have money challenges when you were younger in your house? Do you have money challenges now?

No, I don't. So this is just a wiring issue. You just love saving money, huh? Yeah. Well, let's dive deep into that. Gabe, how old are you, man? I've got a good problem. Yeah, how old are you?

17. 17. How much money do you have in the savings right now? About 18 and a half grand. 17. 17. How much money do you have in the savings right now? About 18 and a half grand. Okay, you can go back 18.5 in the account. All right, cool. How much do you make a year? Well, I mean, I go to school, so it's a little bit on and off.

I would say just to be conservative about it, 10 to 15 grand. So you make 10 to 15 grand. You have $18,500 in your savings account, and you're 17. Are you in college right now, or are you in your senior year of high school? So I just graduated high school. I'm going to college actually in Tennessee this fall. Okay, you're going to Tennessee. How are you paying for college?

So actually I got a mostly full scholarship, and then the remaining, which I'll be paying for room and board, which is around like 10 grand each year. I have my grandparents have an account with around 30 grand. So I could just pay. I should be good. It's a little short by 10 grand for the fourth year. But then I would just pay cash for that year. Yeah.

So, Gabe, I'm going to let the doctor here talk to you on the mental side. But from the financial side, bro, right now you're young and you're in a perfect place. With $18,500 in a savings account, do you understand that the average American in the world right now, well, not the average, nearly 40% of us in America right now could even afford to pay for a $400 emergency. You have 18,500. Nearly 80 percent of us are living paycheck to paycheck. You got 18,500. So right now, I don't really think you need to be enjoying this money as much as you think you should be. I love the fact that you are saving a lot more because then now what you're going to be able to do is take

this money cash flow your way through college with your grandparents help then graduate college be making about 40 50 000 a year at 21 22 years old and you're going to be ahead of the game because of where you are today so i want you to know this much gabe you're in a great position do not feel bad that you're not enjoying your money because that's what the average 17, 18-year-old wants to do. Enjoy. You are enjoying your money. You're making good decisions. You're making wise decisions.

And I'm telling you right now, Gabe, you're in a perfect, perfect place, man. And so, Gabe, I'm going to lay three things on you. You ready? Yeah. Write them down, Gabe. Write them down, Gabe. Write them down, man. Here's number one. You've chosen as a 17-year-old to be wiser than a number of 40 and 50 and 60-year-olds across this country and across the world.

So I want you to plan now. You are the kind of young man who's going to go up to be a great dad, a great father, a great community member, a great partner, and you are always going to be walking around down the streets of whatever city you live in, and everyone around you is going to be walking the other way. So I want you to plan on being weird and just get to where you're okay with that. I like that. Because you have chosen to live your life differently already. That's number one.

Number two, this comes from a great theologian named Rich Mullins, and I'm going to alter it a little bit. People can often be as proud of the things they don't have as people can be obnoxiously proud of the things they do have. Say that one more time. People can often be as proud of the things they don't have as people can obnoxiously be as proud of the things they do have. And so if somebody rolls up next to you in a brand-new Tesla

and it looks all fancy and you know they put it on credit, if I'm sitting there in my Corolla and I'm just kind of thumbing my nose at them saying, I don't need a car like that, I'm doing the same thing they are, just on the other end of the spectrum. And the third and last thing is, give yourself a little bit of joy. Give some of that money away.

Make that a part of your life. Laugh with your buddies. Having a bunch of money and no friends and no laughter and not a piece of pizza is not a way to live your life. You're doing the hard work. Keep most of it out there, but also smile with your buddies. Piece of pizza? I don't know what they do in New York. I'm in the chat.

I'm in the chat. One of the questions I get all the time is, which life insurance company should I use for my term life policy? A valid question since there are hundreds of companies out there with rates all over the place and riders and add-ons that are simply a waste of money. You need to get this done and make the right decision. That's why the only company I use and have recommended for over 20 years

is Zander Insurance. Zander is a broker who shops the top term life companies for you and finds the best rates available from the only plans I recommend. They also save you time whether you want to work online, over the phone, or via text. Their team will cater to your needs and help you make the right decision. This is an absolute necessity and zander has made the process easy and convenient call them at 800-356-4282 or visit zander.com for instant online quotes going out to virginia we're going to have a conversation with uh linda linda how can i help you hello okay so recently i signed up for school um it's a small certificate program but the only thing the tuition is like sky high and

I'm already in debt now I'm like working on my credit so it's like should I still continue going to the school and like get into more debt or should I just wait until I'm more financially stable and I get things in order?

Well, I love the fact that you called in so we can have this conversation. Give Dr. D and myself a little bit more information about you. So how old are you real quick, Linda, if you don't mind me asking? I am 23. 23. And you say you're already in some debt. So how much debt are you in right now? I don't know how much, but I think it's like a little over. It might be a little, well, it might be pushing 20,000 or a little over.

Okay. 20K. Is that already some student loans from when you tried to go to college the first time? No, it's actually a car um a car loan and other it's like small loans okay all right and what are you going to school for right now it's medical assistant but it's certification okay all right and what do you do right now for a living right now i, I just work at a retail store. OK, retail store. You're not wrong with that. You're working.

And what was the certificate you're getting? I just missed it. Medical assistant. Medical assistant. Yeah. Medical assistant. Here's my thing, Linda. And I hear here I think I hear a small, beautiful, handsome or beautiful baby in the background. And I want to make sure that you hear me clearly when I say this, that I don't want you to rack up any more debt. You know, you're a young, sharp, young lady. You're calling in on the show, having a conversation with us. I don't want you to rack up any more debt.

And so what I'm going to suggest that you do is start off and you just got to cash flow it. How much are you making right now a year with everything, retail, all your income? What's your annual income, would you guess? I'll say $10,000. It's not that much. Okay. Are you living at home with family then? I live with my boyfriend. So he like helps with majority of the bills. Okay. All right. Cool. Sounds good.

Here's a thing that I really want you to do. From the money perspective, earlier you said I really don't know. Before we can move forward, we need to know where we currently are. So the very first thing is what I want you to do is do an assessment of your life. I need you to, you know, pull your credit. I need you to sit down and write down all of your debt on paper. Okay. Everybody you owe, I want you to have it down. I need you to get on a strong budget. Then after you do that, Linda, I want you to get a vision, you know, exactly where do you see yourself going and why do you want to go there? All right. And I mean, no disrespect to your boyfriend, but I don't think about your boyfriend.

I want to think about you. Where do you want to be in the next three to five years? OK, write that down. Then when you write that down, I want you to take debt off of the table. OK, then we do that. Here's the last thing. Do the plan. Figure out what will it take for me to accomplish my three to five year goals. And if that's to go to school so you can become a medical assistant because so you can get into the medical field. There are several, several ways that you can go to school and get this education without racking up debt. Okay. So that's going to be my recommendation to you.

And here's what I want to do because you're young, sharp. I want you to stay on the line and we're going to give you a free, free Ramsey plus. You're going to get financial, a piece of university inside of that. You're going to get a free debt piece of university inside of that. You're going to get a free debt tracker, and you're also going to get every dollar plus. I want you to get on a solid plan to get the education so you can be good for you and your future family. You feel what I'm saying? Did I answer your question? Yes.

I love it. I love it. Also, the thing is with the school is it's like $20,000 just for a certificate. Yeah. What school is this? The only reason why I went to the school is because it's convenient. It's like near why. Say, it's United Education Institute.

Okay. UEI. Is that the cheapest one? Not the cheapest one because I don't believe no schools are cheap. Is that the most affordable one within your area? Now, some may require you to travel out some it's not um they actually have schools um that i can pay cash to get the certificate but i didn't have the money i don't have the money on hand okay that should pay the full amount they looking for okay all

right all right all right now when you say pay full and pay cash in hand, they will not allow you to pay cash as you go per class per semester. As far as yes, payment plan. Yes, ma'am. Yes, they have payment plans. But at the time, I didn't have the money to, you know, start it up. Okay. So here's what I want you to put a down payment down. There you go. So here's what I want you to do. Sounds like you have a decent job right now, but I'm going to pause like I'm going to wait until I can get some money to start paying towards education. OK, I'm not going to jump out there and get into debt. I'm not going to jump out there and pay student loans back four or five years down the road for the next 20 years. I'm not going to do that. So there's nothing wrong with you pausing, but you've got to get a vision. You've got to get a plan and you have to start using wisdom today.

So by this time next year, you can be in school. You can get the certificate. You can get it debt free. And I promise you, you will thank me 20 years down the road. Dr. D, that's exactly right. I don't have anything to add. Linda, you're holding your tomorrow. I can hear that little voice over the radio, and I want you to look in the mirror and holding that little baby, and I want you to say to both of you, we're worth doing this the right way. And Anthony said it best. You can't count on anybody that you're living with.

You've got to look in the mirror and say i'm going to choose to do the things that's going to change the legacy create a new family tree for me and my baby america this is why i'm here you know that this is why i am in nashville tennessee on the air right now at 325 326 p.m on this beautiful day i love all people but i really have a heart for young people i really have a strong heart for that 18 to 34 i'm not saying people in their 50s are not young okay but what i am saying is i really have a heart for for the lindas i really have a heart uh for that 23 24 25 year old that really wants to do better with their life you can hear to her voice like i really want to do better that's exactly right um she's like how and so uh if you're listening and if you're in that age bracket i want you to go over to my youtube

channel every single Monday. And I just told my team this the other day. Hey, you know what? I want to go up to more shows every single Monday and Wednesday. We're going to be releasing brand new shows on my YouTube channel where we're teaching young people

really how to become debt-free, how to go to school debt-free, how to pay off your student loans, how to start a business, how to build wealth, how to really take school debt-free, how to pay off your student loans, how to start a business, how to build wealth, how to really take control of your future, how to start building a legacy at 25, at 23, at 30 years old.

Because I believe that age bracket, we're missed. And here's the main reason, Dr. D, why I have such a huge passion for that age bracket. At 19, I'm homeless, sleeping in the back of my car. No one taught me how to, know what should i do with with my money no one said hey when you get a paycheck this is how you give this is how you save this is how you invest no one taught me how to start a business no one told me

they know you should avoid debt no one no one taught me that so So for me, I'm like, okay, I'm going to start teaching them. And so I'm telling you right now, you guys, I just feel it in my heart just to say, if you're young, if you know a young person, I want them to follow me. Follow me on YouTube. Go to YouTube.com forward slash Anthony O'Neill. We have some amazing guests on there. You'll see other young people in their 20s paying off debt, have $100,000 in their savings account simply because of what Ramsey Plus and I are teaching. And there's always going to be some proprietary company that will say, hey, hey, hey, take out a loan. Come over here. We'll help you out.

Yeah. And there always will be Anthony O'Neill saying, you better not. This is The Dave Ramsey Show. if you're like me drive time has become podcast time if you listen to podcast two, you are going to love this. The brand new Ramsey Network app is like a podcast player with all of our shows. Actually, all of our number one shows. This is how you get better in every area of your life. We're talking about the Dave Ramsey show. Yep.

The Chris Hogan show. The voice. Rachel Cruz. My sister. Ken Coleman. The expert for careers. Chrissy Wright. Entree Leadership. And one of my favorites. The Borrowed Future Podcast. You guys, all of this is in one place. You can browse by topic, save your favorite clips, and share them with your friends. Get better in every area of your life, from your money to your career to your business

and even just your life in period. Never again should you struggle to find the education and empowerment you need to improve your life. I want you to download our Ramsey Network app today in the App Store. Just search for Ramsey Network. Very cool stuff. I love it. I mean, Ramsey Network. Very cool stuff. I love it.

I mean, I love it. Very cool stuff. And pretty soon we're going to put the final discussions on launching the John Deloney show. And so we're working through that and we're getting there in the next couple of three, four, five, six, seven weeks. And we're going to be reckoning rock and roll. So I'm looking forward to it. All right, rookie. We're going to get there, man. We're going to get there, man.

We're going to get there. You coming up, dog? You coming up in the Man Ramsey Network. No, that's good. And if you guys have not checked out Dr. D's YouTube, it's booming right now.

I mean, I cannot sit here and lie about that. You're doing it. Tell the world a little bit about your YouTube channel right now. They were just talking about real things that happen to real people at home.

Anxiety and ADHD and depression and relationships. And just trying to figure out how to keep your head screwed on straight and how to keep your relationships together in this bonkers gonzo time, man. I love it. I mean, one thing I love about Dr. D, he's like me. We're not scared to talk about anything. You know, and if you go over to his channel,'s talking about everything from racism how to have the honest conversation um he's he's bringing in people that disagree with him and they're having an honest conversation he's learning from people he's teaching people he's helping a lot of people so you guys i want

you to go over to youtube.com forward slash john deloney yep uh go check him out you guys subscribe because i'm telling you, it's nothing like it. I mean, he doesn't look like none of the other personalities. He has his own niche, which I love and I respect. So check him out. So we're going to keep this conversation going. We're going to go out to

Tampa, Florida and have a conversation with Fernando. Fernando, did I say your name correctly, man? Hello? Yes, sir. Fernando. Man, how can we correctly, man? Hello? Yes, sir. Fernando. Man, how can we help, man? Thanks for calling in. How can we help? Oh, man. This is really surreal. I've never really done something like this. Oh, man. My question is, I'm currently 19. I'm attending school full-time at a community college.

I learned the hard way that's a smarter idea to do. Luckily, it was the first year. And I'm also working part-time as a full-time hours as well to pay for college. So my plan is to have – I have no debt currently, and I'll be graduating by 2023, 2024 area with a bachelor's degree, and hopefully I can continue forward with that. You're a stud, Fernando. Yeah.

You're a stud. I appreciate that. Heck yeah. What's your degree going to be in, Fernando? Biomedical and health sciences. I want to become a sports physical therapist. Oh, man. Incredible, man.

Good for you, Fernando. Are you single? Yes, sir. Oh, stay single, man. Stay single. That's my new talent from my grandfather. man so how can we help man what's your question for today my question is i've currently had a coming to realize moment that i need to i would like to not have this generational poverty that my father's side has given me. I currently live with my mother.

I've been living there for the past 17 years. It's been me and her all over to death. Mom, if you're hearing this, I really love you, and I've got to say you're a really nice superhero. So I really want to change that, and I currently got a savings in scholarships of about $15,000 to pay for my bachelor's and hopefully master's. I'll be paying that cash as well.

And personally, I'm on route to save about $2,000 in the next two months. And by next December, I'll have $23,000 in personal savings. I'd like to know what i should do with this money since i'm living at home my mother and she'd be helping me uh live there with her for a few more years until i get my bachelor's and have a good career i'd like to know what i should do with this money that that isn't making i guess money like i'm sleeping uh i'm sleeping making money

as i'm sleeping i guess that's the term. Yeah. Yeah. And I assume what you're asking pretty much is that what should you do? Should you invest it to where while you're sleeping, while you're working, while you're out there doing your thing, you can have some, maybe some compound interest working in your favor. Here's the very first thing I'm gonna tell you right now, Fernando, don't worry about that right now. Okay. I don't want you to worry about making more money. I think this, this generation, actually not just this generation, uh, all people were quick.

How do we make more money? How do we make more money? Here's the thing. It really doesn't matter about how much money you make. It matters about what you do with the money you currently have. And right now you are a smart young man. Uh, you have $15,000 in your savings account at 19 years old.

You have more money, more money than nearly 78% of the people in the world right now. All right, cash sitting in your bank account. Here's what you need to be doing, Fernando. I need you to write this down, okay? I need you to get a clear vision. I just said this to the young lady earlier. I'm going to keep repeating this on the air. Get a clear vision.

I want you to write down where are you going? You said you want to get into this particular field, get into the physical health field. That's great. OK, get a clear plan. And I want you to stick to that plan. I want you to graduate college 100 percent debt free. No credit cards, no student loans, no car payments. I want you to pay cash for every single thing. Here's something I really want you to do because your mother is your hero. Give your mom some money. Say thank you, mom. Cut a check to your mom for 500,000. Yeah. You know, take, take good care of her. Uh, because one of my goals is when I get older, I have two mothers and two fathers, uh, step-parents and biological parents.

And I'm going to pay my parents house off because of all the drama I put them through my young days. So anytime you can generously say, Mama, thank you. You know, say thank you. Get into the habit of being a giver because that will bless you. Now, if you have college paid for, here's what you can do. OK, as long as on your plan, you have college completely paid for and you're taking care of your mom, you're not just taking advantage of the situation. Then I want you to go ahead and open up a Roth IRA and go ahead and max that out. The year 2020 is about six six grand this year but if you can put money into that now at 19 years old oh man you're going to be a millionaire right around the corner to be honest with you

but before you do the roth ira i want to make sure that you're getting through college 100 debt free so fernando i'm going to learn here too from the master here anthony would he take that 25 000 bucks is it okay just to put that in a checking account or savings account? Since he's got a plan for the next 24 months for that to pay off school, does that need to go in a money market account? Yeah. Does it matter? I mean, it doesn't really matter.

Here's a key thing. We teach how three to six months of expenses set aside. And so what he would do is part that into a money market account, or I would suggest for his age to go do a high yielded savings account online. OK. OK. So that way he'll get a little bit more interest, keep some money in his savings account. And I know you, you're already thinking, like, can he enjoy that a little bit? You can enjoy a little bit. But the key thing is, make sure that you cover your priorities. That's right. And his number one priority is to get through college debt free.

He may need that money to go purchase a car. I don't know his car situation right now. So, Fernando, get through college debt free. Okay? That's number one priority.

Tell mama thank you. Buy her a nice little purse. You know, send her away for a weekend because your mom worked hard. Then number three, if you cover these things without racking any debt,

man, go ahead and part that money into a roth ira and i'm telling you right now it's going to be amazing all right stay on the line i'm gonna send you a copy of dave ramsay's book called total money makeover and if you take advantage and if you read this book man you john he's going to be a millionaire i guarantee you before he turned 35 40 i'm gonna be nice to fernando because if if Dave ever lets me go, I'm going to go work for him. Fernando, you're going to do it, man.

Congratulations. Man, congratulations. This is The Dave Ramsey Show. Today's scripture in quote for i know the plans i have for you declares the lord plans for welfare and not for evil to give you a future and a hope jeremiah 29 11 john f kennedy said change is the law of, and those who look only to the past or present are certain to miss the future. We're going to go out to Kansas City, Missouri and have a conversation with Lori. Lori, how can Dr. D and myself help? Hi, guys. I'm so excited to be talking to you.

I have a question about saving for college and transforming anxiety into confidence. I am a single mom to an 11-year-old daughter. I started following Dave Ramsey's advice in 2017, and I've made a monthly budget ever since then, became debt-free, and then two weeks ago, i bought a house with 100 down payment wow wait wait wait right who's this lady knocking it out of the park so i should be like elated but instead i'm like so hyper focused on saving for my daughter's college um and then I'm anxious about it. So I still can't stop being gazelle intense. So, Lori, real quick before Dr. D really steps in and helps you out here. How much was your house? $130,000.

You paid $130,000 cash for your house? I sure did. How old are you? 39. Wow. You've won. You are, congratulations. Congrats, Lori. Yes. So Lori, let me ask you a few questions. Did you get divorced a few years ago? I sure did. Okay. So when did you get divorced? It was finalized in 2017, right around when I found Dave Ramsey.

So just in a couple of sentences, tell me what that experience was like for you. It was an awakening. I felt like I wasn't financially responsible, and it was time for me to be a mature adult and be able to be financially independent and take care of my daughter on my own. So walk me back right before that, though. You did a great job of glossing over it, which I appreciate, and that means you've got some well-fortified defense mechanisms, and I appreciate them. What was the experience of the divorce like?

Was it exciting and exhilarating or was it devastating? I was numb, actually. It took me about a year before I finally walked away. It was not a healthy relationship. one of the most challenging things when folks go through divorce is obviously the divorce, right? You are losing a part of you, especially if you've got a kid, you've been together for 10 years, five years, you got some time. This is a, this human being is woven into you. They're a part of you, but there's another loss that nobody talks about. And that is the loss of trust in yourself. Right? And suddenly you find yourself, Lori, I thought I loved this person. I thought I was strong. I thought this and this and this. And all of a sudden you realize, I don't trust Lori anymore. And what often happens is you jump into the next strong, sure thing, which in your case, praise God, was the baby steps, was a trust, a guy that

America has trusted for 30 years, just to tell you the truth in simple, easy ways. And now you're at the other end of that. Now you're working on becoming a millionaire. Now you're working on writing a check for your kid's college with a smile on your face. And what slowly starts to happen when you get on the back end of that is you start to realize i still have to deal with the loss of trust in laurie right and so at some point you've you've you've by this point hopefully you've you've grieved the separation from your ex-husband you are kicking butt financially you are i can tell right now you're a great mom who loves her daughter and is already thinking about what tomorrow is going to be for her daughter,

and that's awesome. I want Lori to be able to look in the mirror and trust Lori. And if you have done that, that's incredible. My gut tells me that when you're getting to the end and now you're not able to enjoy this debt-free house, you're already thinking, okay, now I need to go do this. Anytime you think of the words, I need to and I should, that's the old anxiety coming up. That's the old, I don't quite trust Lori yet.

And I'm looking for the next plan to get on. And so I want you to get with a community. I want you to get with a counselor. I want you to get with some folks at a local church. And I want you to look backwards over the last four years at every step along the way where you have been successful and you have won and you have done well and you have honored your family and you've honored yourself. You are a champion, Lori. You've done it. And the only person in your world that doesn't recognize this right now is you. And I want to, for whatever it's worth, I want to free you from from that now i don't think i have the power to do that but it sounded cool on the radio and i want you to

get surrounded by some folks that you trust and can be vulnerable and start rebuilding the trust in laurie because man the rest of your your life you and your daughter are going to be a force to be reckoned with and you are growing a powerful, strong, beautiful, brilliant, strong future woman too, and you've laid the foundation for her. Love it. Going out to Charleston, South Carolina, last call for the day. We're going to have a conversation with Tucker. Hey, real quickly, Tucker, how can Dr. D and I help, man?

Hey, how's it going, guys? Thanks for taking my call. Yeah, no problem. How can we help? So I have a question. Currently I'm 19 years old, and I have a full-time job. I'm about $13,000 in debt, and I'm looking, after I started following the show, I am looking to get that paid off within the next 10 months.

And after I get it paid off, I have a plan of where I want to be in about the next five or six years. And I want to franchise for the company I'm working for. And in order to do that, I have to have at least $100,000 in liquid capital. Well, pretty much the question I have is after I got my debt paid off, what would you recommend would be the best thing for me to do with my money afterwards? To keep it liquid but keep it making me money or, you know what I mean? Yeah, that's a good question, man. I love the fact that at 19 years old, you pretty much have a clear vision, it sounds like. All right, the first thing is get out of debt.

Number two, it's in the next five years after I get out of debt, I want to go ahead and have $100,000 put towards the franchise of the company. Let me ask you this question. What's the name of the company real quick, Tucker? It's Jersey Mike Subs. Okay. Oh, Subs. Good Subs. I like those Subs.

Good stuff. I like that. $100,000 buying. I've been working with them for about, well, since I was 15. I just turned 19 last week, and I've been working with him since I was 15, and I just in February got a job running a store for a bigger company that runs about 40 of them. And, you know, it's really opened my eyes to the fact that I could franchise

this company within, you know, the next six or seven years for sure. I love it. And build my own little company. Tucker, are they trying to talk you into a franchisee loan program? Oh, not at all. Good deal. Good deal. Steer clear of that, man.

That's the franchisee trap. Good for you. Yeah, Tucker's smart. That's why he's calling us because he knows we don't do that. Not over here on the Ramsey Show. Tucker, so here's the thing. You've got to work hard for five years. Okay?

And so what I want you to do is I want you to go ahead and just get the money. Okay? You're going to be out of debt. Do not rush the process. Do not let anyone talk you into borrowing other money. Just go ahead and get the money. Just park it into, like, a high-yielded savings account, because you're right. You need to keep it liquid. I don't want you to lock it into an investment account because that's going

to be long term okay so what i want you to do go ahead and work hard okay and stack the money you need to be living way below your means because when you do become a owner of this particular company i mean if you do it right you could be an owner by the by the age of 25 26 then you can start making profit right around 28 29 30 and you have years and years in front of you to really go hard and i just i just love it so just park it into a money market account or into a high yielded savings account and you'll be straight okay and the temptation though anthony is to try to get fancy yeah right. Right? Try to shortcut the money. Try to, what if I stack on this and then I can peel some off and invest in this? And what you're saying is just follow your own plan.

Man, just follow the steps. I mean, that's pretty much all I'm saying. Dave built an empire off of cash. We are building our brands off of cash. It is possible, you guys. It is possible. Man, Dr. D, it's been fun, bro. Thank you. Yeah, man, I want to thank our producer, James Child,

and filling in for our associate producer, Kelly Daniel, the one and only Zach Bennett, on the phones. Remember, you guys, the caliber of our financial future will be determined by the decisions you and I made today. Make the right ones, all right?

This is The Dave Ramsey Show. Hey, it's Kelly, associate producer and phone screener for The Dave Ramsey Show. If you would like to do your debt-free scream live on the show, make sure you visit DaveRamsey.com slash show and register. We would love for you to come to Nashville and tell Dave your story.