The Ramsey Show - App - My Mother-in-Law Is Trying To Do Our Budget for Us! (Hour 1)

Episode Date: November 17, 2022

Dave Ramsey & Rachel Cruze discuss: Buyer's remorse after buying a car, Dealing with an interfering mother-in-law, Why you shouldn't take "rice and beans" too literally, The demise of FTX and "we told you so" on crypto. Have a question for the show? Call 888-825-5225 Weekdays from 2-5pm ET Want a plan for your money? Find out where to start: https://bit.ly/3nInETX Listen to all The Ramsey Network podcasts: https://bit.ly/3GxiXm6 Learn more about your ad choices. https://www.megaphone.fm/adchoices Ramsey Solutions Privacy Policy

🎵 Live from the headquarters of Ramsey Solutions, broadcasting from the Pods Moving and Storage Studio, 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. We help people build wealth, do work that they love, and create actual amazing relationships.

Thank you for joining us, America. Rachel Cruz, number one best-selling author, Ramsey personality. My daughter is my co-host today. Open phones at 888-825-5225. That's 888-825-5225. That's 888-825-5225. Jennifer is in Phoenix to start off this hour. Hi, Jennifer. How are you?

I am just wonderful. How are you today? Better than we deserve. What's up in your world? Exactly. Hi, Dave. I am calling because I had purchased a 2023 Kia Niro and had complete buyer's remorse after I got it. So I took it back and I got a 2019.

Now I'm regretting that and I'm about ready to just sell it, give it back. I think it's too late to give it back and just walk everywhere. How do I get out of all this mess that I created? I mean, is it realistic to walk everywhere, Jennifer, or are you just kind of being funny? I'm just kind of being funny. Yeah, okay, okay. But you're just tired of the car remorse of all the decisions you've been making. Exactly.

So how much do you owe on this car? This new car, $32,000. Okay. And what's your household income? My household income is $52,000. Okay. Well, your buyer's remorse is logical because it was a bad decision.

Mm-hmm. So... I agree. But you're past the point of being able to return it because you've owned it for a while. Correct. Correct. That is correct. A couple of weeks. Um, so you're, so you're going to be selling it and likely taking a loss. Likely. And then you're going to have to get something cheap that you can afford to drive. Do you have any money? Cash? No. Okay.

Do you have a mutual fund that's not in retirement, or do you have any money you can get your hands on? No. Okay. What did you get rid of? What were you driving before? Something I should have never gotten rid of. I had a 2017 DSO that I only owed $12,000 on. Um, something I should have never gotten rid of out of 2017.

A soul that I only owed $12,000 on. Yeah, that was probably about right with the idea we were going to turn and get that paid off. So you were about where you needed to be. So we need to move back that direction, and there's probably going to be some financial pain involved. Like you might lose a couple grand in this move back towards your old car, right? Correct. And you'll probably finance that into the deal. And when I do something stupid, and Jennifer, I've done a lot of stupid stuff,

a lot bigger than this, okay? I always just call, when it costs me money, I always just say, Dave's paying stupid tax. So I think Jennifer's getting ready to pay some stupid tax. Mm-hmm. I believe so. You got car fever, and instead of taking a cold shower, you bought a car. Exactly. Yeah.

You get it. Well, I've been there. I've done it, too. I know what it feels like. And that's what gives you that bad taste on the back of your tongue called regret, right? Mm-hmm. Exactly. what it feels like and that's that's what gives you that bad taste on the back of your tongue called regret right exactly so the the good news is um that you can fix this the bad news is it's going to hurt and the good news is you will learn the lesson so thoroughly you will never do this crap again oh yes you've already had enough emotional pain to never do it again hadn't you oh i have yes yes, yes.

You're absolutely right. Yeah, and don't be hard on yourself, Jennifer. I mean, I know it's frustrating and you're like, oh, my gosh, this is going to cost me, just like Dave was just saying. But, you know, but it happens, right? And so don't be sitting here for months and months and months just beating yourself up over it either. Give yourself some grace and learn from it because that's the best. I mean, that's really the best thing that you can do is to say okay i'm never going to make that mistake again but what you're saying dave though for her today for her to go yeah sell it sell it

and move down to a ten thousand dollar car and take a loan out for the for the ten grand you're going to lose you're going to take out for the ten grand and you're probably going to be two grand in the hole on this flip yeah flipping back out of this because you probably paid retail for it and you're probably not going to get retail for it on the flip so um somewhere in there and that's the thing so when i filed bankruptcy jennifer i did a whole lot dumber things than you've done i was 28 years old um rachel's right um you don't want to be too hard on yourself but i i do want to separate two things there i was not hard on myself. I never said you're stupid. The decision, though.

But I did do some stupid stuff. Yes, yes. And I wanted to be really hard on the stupid but decision. Yep, yep. Where I never go back there again. But that's different than being hard on carrying around shame. Right, right. Conviction is different than shame.

Conviction is I did a stupid thing. Shame is I am stupid. And I am not personally stupid, but I have done some unbelievably stupid things in my life. I'm 62. I've had a lot of chances at it, you know, so there you go. All right, Brittany's with us in Birmingham. Hey, Brittany, welcome to the Ramsey Show. Hi, how are you?

Great. How can we help? Yeah, so my question is kind of more of a moral thing than a money thing. So my husband is 25 and I'm 23. We've been married for just over a year and we've recently kind of decided that we want to start seeing where every penny of our money goes. And both of our parents love you. We've grown up, you know, going to your classes and reading your books so we know everything um and my mother-in-law decided that she wanted to offer us some advice so we started to take some of her advice and then one day she came to us and said I just want to go ahead and

make your budget for you and I immediately laughed this off and I thought this is crazy like I would not do that I think she's joking but my husband thought that it was a really good idea and I that's so sweet and I begged and pleaded with him to not let her do this and so I finally got him to agree for us to work on our budget together alone and I thought it would be for our eyes only but in the middle of us writing down our paychecks like our bills and things like that he called his mom and asked her to come over and she came over to our house and looked at everything do you hear the helicopter blades yeah and she she came over and she looked at everything. And I, on the way, while she was on the way after he hung up, I begged and pleaded with him to not let her come over. I cried. I was like, please don't do this. I wanted to do this together. And he told me that I was acting like a child and that it was ridiculous for me to be acting this way.

And it was perfectly OK for his mom to look at our budget. Who's the child? I'm like, oh, my God. Who's the child here? He like, oh my gosh. Who's the child here? He's the mommy's boy. Jeez. Exactly. And I said this, and I told my parents, and my parents were furious. They were like, what is he thinking?

And basically, she came over and looked at everything, and he even let her take it home with her and do it herself. Okay, so Brittany, you're 100% right. You're not crazy. You need to stop this from happening. This is a boundary violation. Helicopter mommy and mommy's boy need to learn the idea that the Bible says leave and cleave. You leave your parents, and you cleave to your spouse.

And that includes you too, Brittany, instead of calling your parents. Yeah, don't call your mommy and daddy. Yeah, y'all need to, yeah. A marriage counselor and duct tape is involved, right? No, absolutely not. Ask for wisdom, but do it yourself. There you go. I think that's a fair.

We can wrap back on this because there's other thoughts. Let's just do it. Let's come back on it. This think that's a fair. We can wrap back on this because there's other thoughts. Let's just do it. Let's come back on it. This is The Ramsey Show. rachel cruz number one best-selling author ramsay personalities my co-host we're talking with britney 23 and 25 years old her mother-in-law inserted herself into their budgeting her husband her mother brought it in her husband but her mother-in-law inserted herself too pretty aggressively um into the budgeting process britney doesn't think that's okay we're kind of in agreement there and um you know i see that both parents are uh big fans and i want to help this young couple

uh some appropriately some inappropriately is that about how far we got britney yes okay so where do we stand today um so she took the budget home with her and basically a few days later we both got a text message in a group chat with her she had written everything out that we make and, uh, said, this is what you say from this paycheck and blah, blah, blah. And I texted her very nicely and said, we will decide what we do with our money. Um, and she didn't like that. My husband didn't like that. He thought that I was being rude to her. I have suggested marriage counseling. I have suggested going to counseling and he does not believe in that. He doesn't think that that

stuff works. He refuses to go. So that's not really an option. I am just calling to get some advice to see if I'm crazy for thinking that this is completely wrong. And my parents also agree with me. They think that it's absolutely insane. And yeah, so I'm just calling for advice to see what you have to say. So when it comes to relationships, Brittany, and money, what we always find is usually it has to do with there's the problems and the issues going on within the relationship. It's not about the budget. It's about that your husband didn't listen to you your husband didn't respect your opinion shoot you off like you were a child and kept bulldozing his way through right that that that to me yes your mother-in-law doing the budget all that that

is that's an issue but for me is if I budget, all of that, that's an issue. But for me, if I were you sitting in your position, that's the issue that makes me... My feelings are hurt, you know? Sure. Well, yeah, you weren't listened to. But let's make sure that what Rachel's saying, you're getting this, your feelings don't need to be hurt at your mother-in-law. They need to be hurt at your husband. Yeah.

Yes. He's the problem yes he's the problem she's the symptom that's right yeah so so britney what i mean what i i if i were you guys you've been married less than right right out of year less than a year yes just over a year yeah um i would find people in his life that you guys have a really great relationship with. And I don't know if that's friends. It doesn't need to be family. Uh, I don't know if that's friends.

I don't know if there's like a mentor or someone that he really looks up to, but I would, you need someone else speaking into this versus us sitting here in Nashville. You know, we can, we can give you our advice, but really to have people walk with you because he needs to get to a point of humility, uh, to be able to, to, to, to say that therapy is not wrong. And I know some people have like this weird thing about it, but to go, to go to marriage counseling, uh, but to hear other people speak into his life. Cause I'm scared that it's like, he's so tunnel visioned into what he wants to do including bringing his mom into the situations that that you're you're not being heard within your marriage and so and i want to make sure you're communicating it well too right that you're not you know yeah i don't think you need

to text her about this again i think you need to bust him yes and i've tried to have that conversation no no no you just blew it off. There is no excuse for you to go after her again. She's not the problem. She's the symptom. I want you to direct all of your force into your marriage relationship. Because that's where all of this is. I have, and all I'm met with is you're acting like a child,'re being ridiculous you're being rude yeah i heard you say that but my point is that doesn't then then you turn left and go

text her uh which kind of verified what he was saying and so instead of going at him because this guy's relationship with his mom is about three notches too far over the edge okay period period anybody listening is going this is a problem he's a got a mama's boy syndrome and uh everybody listening is going yeah that's kind of obvious you know everybody but him and his mom and so the good news is is this young boy has a chance to grow up and be a man now and be a husband and he's got an opportunity to step into manhood and the part of that is uh loving and respecting your mother as an adult at a bit of a distance that's right and um with reasonable boundaries and and listening to your wife hello and at least like yeah i don't

know that that's my that's my problem and you need to quit running to your mom and dad y'all y'all are both acting like your children okay you the two of you need to take this inside your house inside your four walls and jump on the fact that your relationship is busted and his respect for you your all's ability to communicate your all's ability problem solve without bringing in outside forces called in-laws is limited and you need some new tools to work on that so yeah do you guys attend a good church by chance um we don't at the moment i work on sundays um and he works he's on call he's a lineman so you don't have a good uh uh pastor's connection that you could use to just sit down with a pastor um not at the moment okay that's fair all right

then you do just need to get a hold of a good marriage counselor um or call a good local pastor there in birmingham and just see if they'll meet with you. But, you know, no, you are not being childish. No, you're not being unreasonable to not want her in there. Possibly some of your reactions to the whole situation once you lost it were childish. I don't know about that. But, you know, this is a relationship question. It is not a budget question.

This is a boundary violation. If Sharon Ramsey inserted herself into Rachel and Winston's uh Daniel that'd be the same thing yeah into Daniel's situation uh Daniel would not allow that Allison would not allow that um and I would not allow her to do that um so I mean there'd be a lot of not allowing here it's called boundaries yes but Yes. But for young, let's go on. I'm the guy that teaches America how to do a budget, by the way. And I haven't ever done a budget for any of my grown married children ever. And I remember coming up to the house.

Winston and I were probably married about two years. And there was a money thing. I can't remember what it was. It was like we had some money and it was like, should we invest it here? Should we put it in a meeting? Like we were, it was a pretty basic question. And you wouldn't answer it. You're like, well, what do you guys think?

What do you think? What do you think? What do you think? I'm like, I don't know what to think. That's why I'm asking you to help me. You should have called into the show, Rachel. I should have called into the show. I would have gotten the answer, I know.

But for real, though, there's a balance in overbearing, but then young couples listening to have wisdom speak into your life yeah she apparently is good at doing a budget it would have been nice to have her input so it wasn't controlling exactly but you can't ask this woman for anything because she doesn't know when to stop i know she's like that bulldog i had it never when to knew when to stop eating so i'd get fat okay so just cut the food off i'm thinking about all the young couples though listening and they've been married for a year you're you know year and a half and they don't know maybe they have questions about their money

and maybe their parents are really great at money what what is the appropriate i think you can ask for help with that uh and ask for input on anything if both are good if you're both good with that number one but number two if the person you're asking has reasonable boundaries and is not going to artificially insert themselves over the line into the situation okay now one of the reasons you got the answer you and wesleyan got was uh you're asking me but also you're asking me in the sense that you you understand your husband has married into this family at that time this is what's going through my head when you're asking me in the sense that you understand your husband has married into this family at that time. This is what's going through my head when you're asking me this question that is bigger than life, that takes up all the air in the room, and that everywhere we go, it's all about Dave. And it'd be nice for something to be about Winston.

And so I'm like, no, I'm not getting in this. If it had been a normal situation, I would have answered the question as your dad. But because we're not normal, we're weird. You know, I got to give Winston some space. And that's why I pushed back on y'all. I'm like, y'all go figure it out. You kind of know the answer. And he already knew the answer probably.

But I didn't want him thinking that he was in my shadow. He's the son-in-law. Right, right. You know, because I got a big old shadow, you know. And so I got to be careful with that. It's just you got to really work this stuff in your head relationally because it it man it gets all screwed up fast it does it's sticky sticky sticky sticky thanks britney for calling good luck yeah work on it kiddo work on your marriage and your husband not your mother-in-law. This is The Ramsey personality.

Number one best-selling author of My Daughter is my co-host today. This is The Ramsey Show. Rachel and I and all the Ramsey personalities just returned from being gone off and on through the month of November to different cities from Sacramento to Minneapolis to San Antonio and I'm leaving out Phoenix. We've been all over the place. And so this last weekend we were in San Antonio. The week before we were in Minneapolis.

While I was in Minneapolis, a guy came up to me during one of the picture lines. We were doing pictures and signing books with people and all this stuff. Handed me this and he said, he's a high school teacher teaching our high school curriculum. Can you give our high school class a shout out? Oh. So here we go. Community Christian School, Wilmer, Minnesota. Mr. Nelson's class.

Consider yourself shouted out. Mr. Nelson's class. Consider yourself shouted out. Mr. Nelson? Mr. Nelson. Look at you keeping a sheet of paper around. Carried it in my pocket. I'm impressed. Since Minneapolis. So there you go.

And then look who else is from Minneapolis. I told him I would do it. So I did it. And we're blessed. We have about 48% of the high schools in America teach our high school curriculum now. And Mr. Nelson in Wilmer minnesota is one of them so there you go on the debt free stage with future weird people t-shirts on i love it dane and amanda are with us oh also from minneapolis did you graduate from mr nelson's class no not

quite not quite no welcome guys good to have y'all. Thank you. How much debt have you paid off? $254,000. Whoop, whoop. Nice. How long did this take? Three years. Three years.

And your range of income? $190,000 to $270,000. Okay. What do you guys do for a living? I am a technology recruiter with General Mills. Mm-hmm. And I'm a pharmacist with the VA in Minneapolis. Okay. A technology critter with General Mills. And I'm a pharmacist with the VA in Minneapolis. Okay.

A technology critter. Oh, recruiter, sorry. Recruiter. I thought, I've got some technology critters in the building, but we've never given them that title. We've never given them that title. I've got several, as a matter of fact. Recruiter.

I've got some of those too oh so it says future weird people so that means 254 000 and a lot of that was student loans correct not the house whoa correct wow big dogs tell us tell us the breakdown what kind of debt was this it was credit cards a small portion my student loans and then his student loans was the bulk of it and a little bit of irs oh pharmacy school ding ding ding ding ding ding you got it and irs just like a little bit of tech it was like the cash flow during the debt you know you get your bills oh okay good wow how long y'all been married? Six years. Six years. So halfway in the marriage, you looked up and went, there's a lot of Sally Mae in my life. Yes. Tell us the story. What happened? Well, we both kind of had a separate I've had at moments. Mine was, we just bought

a new house. We had one toddler at home, another one on the way. And I just got into my big kid pharmacist job and we just kept running. We had more month than we had money. And so we'd go into the credit card, we'd swipe the credit card. And this was this endless cycle of trying to pay off the credit card. And with the second one on the way, it was just scary not knowing where our money was going. And then for Amanda, summer of 2019, we had an opportunity to potentially buy a lake lot next to her parents' cabin on the lake. And we were sitting in the boat on the lake talking and we looked and did the math and we're like, we're almost three quarters of a million dollars in debt between our house and our student loans. And this would put us close to a million.

And that was a really scary thought so our friends Mikey and Caitlin actually ended up posting on on Facebook about their journey we had never heard your your name before then and they posted and Amanda reached out to them and they came over and walked us through it and that was where we started. Wow okay so the you went three quarters of a million lake lot, no go. Correct. My parents were really supportive and said like, this cabin is basically yours as well. So my brother bought the next lot instead. So we still got big family. Worked out good.

Wow. And now you're free three years later. Yeah. Okay. So three years ago when you sit down with that couple and you guys are running the numbers and you're thinking, we're going to do this. Was the journey harder? Was it easier? Was it what you expected? Walk me through the last three years. It was a lot harder than we thought. Dave and this whole show really supported us. We thought, oh, just my loans and our credit card, like the PSLF will pay off Dane's debt, like, ha ha. And then a year in after that, we were like,

okay, it's 1% less than that of people getting it paid off. Like we have to do it. Like you went to school, we're going to pay off your debt. And so really the last like two years, we're paying off his debt and we had another baby. We were in weddings. We said no to a lot of things that were extra. Yeah, on the photo right there too,

we'll talk about our biggest cheerleader, his sister. But when COVID hit too, as a pharmacist, I mean, he picked up that over time and I was home with the kids and it was really stressful and hard on our marriage, him being gone and working so much, but it was still a thank you for helping everybody and helping our family ultimately, like coming home knowing, okay, that extra overtime is going to get us faster and faster.

So pick up those shifts, like fine, we can not do things and I'll stay home with the kids and find something to do. But it was really hard. And now that it's like, oh, I don't have to pick it up. And he got promoted in the meantime, I got promoted, like our salary, my salary doubled during our journey, so it was really awesome, and we've had a lot of support. Very cool, very cool. Congratulations. Thank you. Thank you. Proud of y'all. Thank you. So his sister was one of the big cheerleaders. The people you knew, met from Facebook were big cheerleaders. Yes. Something good can come up Facebook. We just proved it. Right, right.

One of the few things, yeah. Who knew? I know. And we actually just last week saw all of you, and we went with Caitlin and Mikey. So it was just a really like- Oh, y'all were in San Antonio. Oh, you were in Minneapolis. We were in Minneapolis.

Oh, yeah. Okay. Caitlin and Mikey on the video right there. And it was like a really emotional like full circle. Like we submitted our payment. It went through like within those last couple of days. So it was just like, holy crap.

Like this is real. We would have got you with somebody and done a debt-free scream in the hallway if we didn't know that. Oh my God. Good for y'all. Well done. Very well done.

Okay. What do you tell people the secret to getting out of debt is? Communication. 100%. I mean, it changed our marriage, communicating about the money. And then obviously the budget. So I mean, we're always talking about the budget, even spending an extra $20 here or there. It's like, hey, can we do this? Should we do this? And it's been huge for us. Yeah, very much. We feel really weird when

couples say like, I'm going to put it on my card so my husband doesn't see it or that i was like i asked him if i can spend five dollars at starbucks like i don't get it and he asks you yes exactly like we talk about it because that's a lot of people's you know that's all that's a friction point for a lot of people is they're like i still want this level of independence but you guys are saying we went all in together working as a team and and it helped our marriage right the communication about money and so that's just encouragement to couples out there that think oh we there's like the sense of security that people have to separate it yes but when you come together and actually lock arms it's amazing what it can do yeah it's been so free if you don't have that communication and you're working bazillion hours of overtime and she's stuck home with the kids and covid

for you afraid you're gonna die from covid all in the middle of overtime and she's stuck home with the kids and COVID, you're afraid you're going to die from COVID all in the middle of it and all that, you'd be going into orbit. It was already tough with communication. Yeah. Hard on your marriage. You're saying, you know, it was a tough time. Yeah.

The only way you get through that is this increase. We're going to talk about everything. We're going to talk about everything. We're going to walk it out. We're going to walk it out. And you guys are impressive. Well done. Thank you.

That's a great job. Well done. Couple of studs. Well done. Good stuff. Good stuff, job. Well done. A couple of studs. Well done. Good stuff. Good stuff, man. Good. We got a copy.

We got the live and give bundle for you, a copy of Total Money Makeover to give to a friend. Maybe jump on Facebook and find somebody to give it to. Oh, we will. Baby Steps Millionaires, that's the next chapter in your story for sure. Our latest number one bestseller and a one-year membership to Financial Peace University. Use or give any of that uh it's all there for you guys just to say we're proud of you and thanks for making a trip all the way to nashville from minneapolis to do a debt-free scream thank you so much dane and

amanda minneapolis 254 000 paid off that includes school. Did it in three years, making $190 to $270 right in the middle of a pandemic. Count it down. Let's hear a debt-free scream. Three, two, one. We're debt-free! Yeah! That's how it's done ladies and gentlemen Wow

Don't tell me you can't do it If you went to pharmacy school No whining, Dana and Amanda just did a mic drop On your idea This is the Ramsey Show Субтитры подогнал «Симон» In case you couldn't tell, debt-free screams are a big deal around here. Folks who stand on this stage are heroes. They chose to live like no one else, and now they get to live and give like no one else. That's why we've started giving everyone who does their debt-free scream the live and give box.

You just heard me talking about it. It's the toolkit to walk out this whole baby steps journey and live and give like no one else the rest of your life. And now it's not just for debt-free screamers. We're offering the live and give like no one else the rest of your life and now it's not just for debt-free screamers we're offering the live and give box to all of you you get a copy of the total money makeover an entire year of financial peace university and the baby steps millionaires all for just 99 now financial peace university is 99 so basically you're getting the two books free if you want to look at it that way if you're're brand new to the Baby Steps, these tools, the tools in this box, will help you get out of debt and build wealth.

Or if you're debt-free and you're on your way to being a Baby Steps millionaire, this is how you can split the box up and live and give and make it into three different gifts if you want to. It's a good deal. So to get the live and give box, go to RamseySolutions.com slash box. RamseySolutions.com slash box. RamseySolutions.com slash box. 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, free samples, free shipping, and with the new promos they run every month, you'll save even more. Use the promo code Ramsey to get the best deal. Today's question comes from Casey in Arizona. This is going to sound so silly. How strict would you get with this debt payoff? We are $20,000 in debt with cars. We recently got married. I am now pregnant and my husband refuses to buy me any soup. He wants us living off rice and chicken. I'muking all day can't keep food this is real for soup yesterday this is real he makes very good money so so one can of soup wouldn't hurt

but he's also dead set on not eating or buying anything other than essentials we're literally fighting over it thanks a pregnant wife craving soup is that real y'all oh my gosh see these this is the problem with our jobs dave that we've created we will have a job that we've created him him oh no casey yes no we did not create him we never told someone to do that ever if you mean when we say live on beans and rice, rice and beans, if you think we mean that literally, I mean, you really need to go back to school. It's a metaphor for sacrifice, sacrificial living. The deeper you sacrifice, the faster you get out. The chances when we were dead dog broke in bankruptcy court and my wife is carrying Rachel during that moment. Rachel was born the year we filed bankruptcy.

The chances of me telling Sharon Ramsey she ain't going to have any soup is about zero. Okay? I would have woke up dead. Wouldn't have woke it up? I wouldn't have woke up at all. I'm telling you. Duct tape to the bed and her standing over me with a baseball bat. It wouldn't have, man, this would not have worked, right?

We are not going to do this. So, come on, man. Come on, man. I mean, really? Goodness gracious. Now coughing. Well, I just remember how sick I was. You were sick. Pregnant and like that's so terrible. Casey, go get soup. Go spend $10 and get you 10 cans of soup. Tell Mr. Pharisee to lighten up a notch. Goodness gracious. Okay. No, we're not buying a new car. We're buying a can of soup.

Jeez. I don't know. I don't know. I don't know. I don't know. I don't know. We're both spenders. There are. I mean, I've had people call and say, well, I'm in my husband made me get in a dumpster

and get something out of the dumpster because you said I never said that ever. Never one time did I tell a man to spend his wife to the dumpster to get said i never said that ever never one time did i tell a man to send his wife to the dumpster to get stuff out never once but i've actually had that call one time oh my gosh these people take stuff listen you i get it that you got the point but you missed the point okay there's a concept here not a detail yeah and so it's um i think it was why jesus was frustrated with the pharisees right oh yeah you got the concept but you got all caught up in the details and you went really far over way over the line down the hole the rabbit hole casey in arizona if i had your address casey i would ship

you a pallet of soup a pallet yep just show it just a whole pall palette costco costco here we go direct direct to casey's yard uh let's let's do a let's do a go fund me for casey's suit no no she doesn't need that she needs to um well she's got it she's got what she needs now so um it's kind of low class to just yell at the top of your lungs i told you so isn't it well it's one of your favorite pastimes so go right ahead um yeah because i got so much crap from the bitcoin bitcoin bros and as george says the bitcoin bros are they're pretty much like mary k it's bitcoin's pretty much like mary k for young men you know that's what george says and he's pretty much right because they don't they can't listen

to anything their brains are turned off if you're not going to do their thing oh yeah we got hit on with crypto oh god man we got just every time i said don't do crypto i'm an idiot i'm a boomer i'm out of touch i don't understand and dave i would think you don't like regulation i would think you don't like i would think you like listen don't like, I would think you like, listen, I don't like over-regulation. When it comes to my money, I do like a wee bit. And right now, aren't you wishing you had a wee bit of regulation with FTX's Sam Bankman-Fried? I mean, there's right there in the name is a clue, right? Collapse compared to, Freed, I know. I know.

I can't resist, though. The collapse is compared to Enron or Madoff. FTX's failure likened to Enron's scandal or Bernie Madoff's Ponzi scheme. This from Fox Business. The collapse of cryptocurrency exchange FTX amid reports that at least one billion dollars in client funds disappeared oh my gosh where are the regulators well it's not regulated which some of you were so proud of impacting potentially around a million customers has prompted comparisons to some of the most notorious financial scandals in decades yet the magnitude of customers impacted is even larger ftx which at its peak was the third largest cryptocurrency exchange filed for chapter 11 bankruptcy

protection on friday told you so and the company confirmed over the weekend that millions of dollars worth of assets were unaccounted for told you so the company's founder sam bankman fried freed uh faces allegations that he secretly transferred, that's called stealing, up to $10 billion from FTX to Amelda Research, Almeda Research, his hedge fund that also filed for bankruptcy. And the company is facing a criminal probe in the Bahamas. I mean, if you can get the bahamians upset enough about you that they go after you because they're pretty laid-back bunch i'm just saying you get them pissed off you have really stepped in it wow man he did some like deep deep deep deep deep deep like off of the chain and is it man yeah and it's just greed i mean like that's like to the deepest deepest core oh this is this

is now this is just thievery well yeah yes i know but but billions but motivation of it it's like yeah same but anybody that doesn't get him it's the third largest bitcoin exchange dave i mean come on at what point boomer aren't you gonna wake up to this new and shiny wonderful thing you you don't know what you're talking about you going to wake up to this new and shiny, wonderful thing? You don't know what you're talking about. Tell people to stay away from this. I've already made. Where's your money now?

Mr. Fried took it. It is funny, though, because crypto, it was a hot topic. It's a hot topic today. I know. It's all over the news for the last 48 hours. It's nowhere to be seen. This may be the biggest fraud and theft in human history. I mean, if it's bigger than Madoff. I mean.

If it's bigger than Madoff and it's bigger than Enron. What was Madoff's? Do you know the numbers there? No. It was 68 million or 68 billion or something. This is. This is. This is.

They're saying this is going to be larger. Yeah. Yeah. It's. Madoff was huge, though. It was massive yeah yeah it's um made off was huge though it was massive but um it's straight up thievery and um and those millions of people that lost their money zippo well sad sad i lost my money i was stupid too told you so told you so

oh i'm so i hate that you lost money guys but I did tell you not to do this stuff, okay? I told you. Well, I'm just going to put a little bit in because I want to be a little bit cool. I just got a little bit in because I'm a little bit cool. Oh, my God. I mean, I got a friend that's a multimillionaire, and he goes, Dave, I know, but I put $10,000 in. I'm like, dude, you could lose that on the crap table in 30 seconds and not miss it. I know. That's why I did it. And I said, now you're going to lose that on the crap table in 30 seconds and not miss it. I know.

That's why I did it. And I said, now you're going to lose it on that, and then you're going to act like you were cool. See, it's just, yeah. I just hate the spirit around this stuff and what it does to people because they get sucked into it, and then they get their heads taken off. And this guy, man. Slow and steady wins the race. Predictable investments.

That's the moral of the story. There you go. Be the tortoise, don't be the FTX hare. This is The Ramsey Show. Hey, it's Rachel Cruz, co-host on The Ramsey Show. If you want to do your debt-free scream live on the show, visit ramseysolutions.com slash debt-free scream. We'd love for you to come to Nashville and tell Dave your story.

That's ramseysolutions.com slash debt-free scream. Hey, it's James, producer of The Ramsey Show. This episode is over, but check the episode notes for links to products and services you heard about during this episode. Thanks for listening.