The Ramsey Show - App - My Parents Are Worried About the Coronavirus (Hour 3)

Episode Date: March 23, 2020

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🎵 Live from the headquarters of Ramsey Solutions, broadcasting from the Dollar Car Rental Studios, it's the Dave Ramsey Show, where debt is dumb, cash is king, and the paid off home mortgage has taken the place of the BMW as the status symbol of choice. I'm Dave Ramsey, your host. You jump in, we'll talk about your life and your money. It's a free call at 888-825-5225. We're talking more about life than we are money, but we always do around here. Dr. John Deloney, we call him Dr. D. Ramsey, personality newly minted, joins us.

And I probably for the next year of your life will continue to introduce you and say you're a Ph.D. in counseling so that people know who you are and you're able to answer their questions about stress, about anxiety, about fear, about boundaries, about people that are being unkind because they're afraid, about encouraging kindness and generosity instead of spreading fear. It's valid to have concerns over the economy right now. It is valid to have concerns over the coronavirus, especially if you are in one of the at-risk categories. But the overreaction to both will bring overcorrection, oversteering. When you think that, you know, I almost changed lanes into another car the other day and I almost oversteered. Hit the guy on the other lane.

Coming back and almost went into the wall. There you go. And more people wreck from their reaction than they do just going ahead and wrecking. And so the overreaction to either can get you in trouble. Panic. Panic. No one makes good decisions when they're panicked or drunk, Dr. Art Laffer says. So here's an interesting one for you, John.

You're going to get to do a lot of talk radio in the next several years and a lot of situations where you're going to have a lot of opinions. So I've been doing this for 30 years and there have been some people out there in the marketplace that i have oh so disagreed with and um disagree with everything but occasionally i find myself aligned with them anyway and it's uncomfortable does that make sense absolutely yeah and so a wise you know wise man well a long time ago i mean when back when she was a harvard law professor elizabeth warren and i were on the same side and chuck schumer and i were on the same side of a bankruptcy argument because the

republicans were putting a bankruptcy law through that went through that was all about protecting the banks and not the little man and it added teeth to bankruptcy that was unnecessary. I'm not for bankruptcy, but the – so I found myself aligned with these guys because they were right, you know, and I had to admit it. My feet are getting cold. Even though our – My feet are freezing.

Even though our politics were – and the rest of our lives are not aligned in any other way. Sure. But I had to respect the argument and the principle of the argument. Good for you. And one of those guys is a guy named Peter Schiff. And Peter and I have been notoriously at opposite ends of things because I am just not a glass-half-empty guy.

I'm not a scarcity guy. I am not going to be, during my lifetime, you can mark it down, I will not be predicting the end of the world. There you go. I'm going to resist that. Good for you. A lot of financial people do it. A lot of economists do it.

There's something about a dark cloud that follows some of them around. And Peter is continually predicting the end of the world. Now, you know, if you predict it long enough, eventually you'll be right. That's exactly right. Even if it's after your death. There you go. So I have picked on him mercilessly in the past. And I ain't said anything bad about him in about 15 years.

But we used to go at it pretty hard, but not directly. But he tweeted this today, and I find myself completely agreeing with him. How can anyone say this is not a financial crisis, especially when it's an even bigger financial crisis than the one we had in 2008? Here's where I agree with him, which that's a little bit hyperbole right there, a little bit of drama, Peter, right? You're just trying to build it up again, okay? But here's where I agree with him, which that's a little bit hyperbole right there, a little bit of drama, Peter, right? You're just trying to build it up again, okay? But here's where I agree with him.

In an economy as highly leveraged as ours, every crisis becomes a financial crisis. I love it. Yeah. The leverage, the amount of debt in business, the amount of debt in personal lives magnifies the volatility. Any little wave becomes a tsunami in your personal life when you have debt. When you don't have debt and you have a pile of cash, a wave is just like, hey, that was fun. Right.

Or it's an inconvenience at worst. Yeah, I just got wet. Look at that. My feet got wet. And it's a different thing because but it rocks your freaking world when you're leveraged leverage magnifies your stupidity there you go and it does in the nation at the government level it does in the personal level and in the business level and to the extent you have cash and don't have debt, your life is stabilized.

Now, if Abrams doesn't understand, you have to have debt. But all of a sudden, I even find myself aligned with Peter Schiff. So hats off to you, Peter. Nice tweet today. In an economy as highly leveraged as ours, every crisis becomes a financial crisis because people don't have two minutes of money set back. That's right. Given the amount of payments that they have, I can afford these payments means I'm always going to have my job

and means there's never going to be a ripple in the economy, means I'm never going to have any personal problems. Everything is going to go perfect in my life is what I can afford these payments mean, which is asinine. The only thing you can guarantee is that you're going to have challenges, right? Yeah, the only thing you can guarantee is you can't guarantee anything. That's exactly right. God almighty.

It's perfect. Dr. John Deloney joining us this hour answering your questions about life and me about money. Stephanie is on the line in New York. Hi, Stephanie. How are you? I'm good, Dave. How are you today? Better than I deserve. How can I help you? Yes. So my husband and I are in Baby Step 2, and he owns his own small business doing engineering and surveying. And we're kind of freaking out at the moment because that business is quickly drying up and you know he still has debt within his business. I'm still working which is good. I have

a really good job in corporate finance which hopefully will survive this crisis but we're just trying to figure out what we do. Do we continue moving on with baby step two? Do we pause and just you know put money in savings until we know what what happens next uh what do you make i make about 120 000 a year y'all live on that i think so um you know my the only issue is we have two kids in daycare and it's you know pretty high bill and we've got some debt still outstanding i I think we can make it. What kind of debt have you got outstanding? I've got student loans of about $30,000. Put them on hardship deferral.

Okay. We've got an HVAC loan, which is small. It's only $100. And then we have a consumer line of credit, which is interest only, but that's the next debt in our snowball that we were trying to pay down. It's got about $10, trying to pay down. Yeah. It's got about 10 grand left on it. Yeah.

Okay. What I would do is pretend he's going to have no income for 30 to 60 days. Okay. And batten up the hatches and live on your income. And that means you don't, you're not doing any baby steps. You're pushing pause and piling up cash, even if you pile up some cash, even if you pay all your payments and have some money left over, which is my preference, by the way,

let's build your emergency fund as high as you can build it in the next 60 days. And then as things get back to normal and his income adds back to the household, 60 days from now, push play again on your baby steps and kick back into gear. Okay. In other words, take any money you got saved at that point, throw it at your debts. I'm sorry? Okay. Can I ask you one more question?

If you wait until after this break, I'll put you on hold. Come right back to you. Stephanie in New York. Dr. John Deloney, Ramsey Personality, newly minted with us. Your questions about life right here. This is the Dave Ramsey Show. If you do this one simple thing that we all do, you are literally at risk of being hacked and someone stealing what you've worked so hard for. Do you ever use public Wi-Fi?

I'm talking about getting online at a coffee shop, a store, the airport, or even at home. Hackers can use a simple $100 device to mimic Wi-Fi, and with just a little bit of skills, they can take over your financial life. This means you may think you're on your bank's site or app or securely making that purchase online, but hackers could see and steal that information. That's why I trust CyberGhost VPN. CyberGhost thinks about cybercrime so you don't have to.

You can try it for free for seven days. Protect up to seven Internet devices and keep all of your internet connections secure. That's CyberGhost VPN. Download it today from your app store and be secure in seconds. Okay, our leadership team met this morning for several hours. Our team is working from home, and we've launched a brand-new website with some giveaways, basically, some stuff we're putting out there almost for free or free to help you guys that are stuck at home and to help you guys that are using this as your personal wake-up call to turn things around. The Total Money Makeover audiobook.

We've sold about 7 million copies of the Total Money Makeover. The Total Money Makeover audiobook for 14 days is on sale. Oh, by the way, the website's DaveRamsey.com slash hope. DaveRamsey.com slash hope. Total Money Makeover audiobook is $1.99 right now. If you lost your job, check out Ken Coleman's number one bestseller about career and finding extra income called The Proximity Principle. Only $1.99. If you're at home with your children and you find yourself homeschooling,

many of you have, and you want to take your kids through the Foundations in Personal Finance High School Home Study Edition, normally $100 to do that, $20 for this 14-day period. While you're stuck at home, we want you to teach your kids. We want to give you hope. The EveryDollar budgeting tool is there, and of course, it's completely free. And the Total Money Makeover books, we're doing something really special because we know there's a tie-in between generosity and your perception.

And so we're going to do a case of books, 24 books, the cheapest we've ever sold the Total Money Makeover book, only $8 a book when you buy a case to give away to friends and family who this has been their wake-up call. And don't be mean to them with a book. Just say, I know you're struggling. I want this to help you. Not like, you should have done this, you stupid fool. Don't do that because some of you are doing that you need to stop it uh dave ramsey you dave ramsey been telling you that for years you just quit using my name as a weapon

okay but get a total money makeover book and give it to the guy at the grocery store that's bagging your groceries for eight dollars i mean really for a case of them and just carry him around the front seat of your car hand them to your postman when he comes up. He's out there delivering the mail, making things happen. You know, wherever you are. I mean, just do some stuff. Generosity is a big thing. So we wanted to equip you for generosity. We wanted to equip you to work with your kids.

We wanted to equip you with these audio books. And we're going to be adding stuff to this every day. We've got some very cool stuff coming out in the next 72 hours. We couldn't quite get it up for the website today because we're sprinting through this right now. And you need to check these things out that are available. So absolute great deals on all of this stuff. DaveRamsey.com slash store slash hope. DaveRamsey.com slash store slash hope.

I'm trying to get them to change it to just be slash hope, but it's in the store. That's how you get the stuff. So pretty cool times. Yeah. I just had a friend send me an email, and the guy that bags your groceries at Trader Joe's, eight months ago she struck up a conversation with him and gave him a total money makeover book, and he got completely out of debt four months ago and he saved his emergency fund and so now when all this stuff's happening he's standing there and she brought him an everyday

millionaire book because she said that's where he's headed that's so you know she said he's headed right that way and that's that's pretty fun and so it's just kind of you know you never know where you're going to be able to strike up a conversation and help somebody but don't please don't use this stuff as a weapon and some of you guys you really need to work on being kind to each other out there. This kindness thing, we're going to, John said it last hour, we're going to start a kindness rebellion. There you go. That's what you said, right?

That's right. Good stuff. So, all right, we were talking with Stephanie in New York, and she said she had another question. So let's go to the second question, Stephanie. Hi, Dave. As a small business owner, do you think we should have an emergency fund that's higher than $1,000 just for uncertainties like this? I just wasn't sure what your take was on small business owners and if they need to have an emergency fund that's a little larger. Yeah, we teach not at home but at the business. And we teach small business owners to, at the business, to pay yourself if you have debt associated with a business and you don't have any retained earnings, which is a business phrase for the, you know that, you're in finance, right?

That is for opportunities as well as emergencies. But you want to have a goal of having retained earnings of three to six months in cash there. That's a heavy liquidity position for business. And honestly, our business has grown so fast over the years, we've never been able to get there. We've got millions of dollars of retained earnings, but I've never been able to get to three to six months because every time I get close, the business adds expenses. We have payroll. We have 1,000 people. So it just keeps getting bigger that what

it takes to cover that nut and so that's the thing and um but yeah but but what i tell business owners is not the standard baby steps at home is to do uh pay yourself a living wage the least you can take reasonably out of the business no luxuries and beyond that take all of your other profits and put a percentage towards debt and a percentage towards retained earnings instead of bonusing yourself out excess profits until you build the retained earnings up or until you're out of debt i actually say let's put 70 80 percent of that money percentage towards the debt and the other 20 30 percent towards continually building your retained earnings so that you've got a little bit of cushion because you become your own credit line or you go further into debt when stuff happens, right?

Right. That's exactly what's happening. Yeah. So let's just try to hold the line on it and not, you know, if we can just keep his business breaking even and you guys eating off your salary, you're going to be okay. Nathan's with us in Pennsylvania. Nathan,athan your question for dr d and dave how can we help hey question is i'm a psychology major and a counseling individual similar to like um john my question is during these difficult times um it's pretty hard to make a decision about spending any money at all. And I feel like on the mental aspect of things, I have that constant fear of wanting to spend any money.

I'm such a saving person. And my question is for both of you is how can I kind of loosen up with my spending a little bit if I have the money and make better decisions? So my question to you would be, what's your financial position? Well, my financial position currently is I am in baby step 3B, saving up for a house on a 20%. So I'm really kind of focusing on collecting as much money as I possibly can. But I also feel like it's gotten to the point where I am trying to be so cheap that, you know, I'm losing friendships and, you know, it's affecting my relationships with other people.

So how are you losing friendships based on what you spend? That doesn't sound like much of a friendship. I know. It's a tough situation. I guess just a lot of my friends, you know, enjoy doing activities. I'm 25 years old, so a lot of them like to do activities. Even some activities that are free, you know, involve a little bit of travel and doing different types of things. So I guess on that aspect, I don't want to be that friend who always constantly says no to things. Yeah, I think you've got to strike a balance.

Is your fear of money apocalyptic? Do you have an end goal that you think is going to take all your money away from you? Or is it just a hoarding thing? Where does that come from? Where does that fear come from in you um you know i think where the fear comes from is comes from other family members and friends who i see spend their money recklessly and you know they fall into bad um bad situations where they're asking for money from friends and family and you know they lose their homes and their cars. So you've got to have that fear.

You've got a model. You've got a picture of what that looks like, right, when that goes bad. Yeah, anti-mentor. There you go, right. You've got a not-want-to-be mentor. And so I would strongly challenge you to, A, stay with your convictions, right? Those are the things that keep you whole and well. But at the same time, don't miss out on friendships and opportunities. If you're out of debt, you're saving for a house, you're already, you're 25 years old,

you're going to be a mental health professional, which means you're never going to make a ton of money, but you're going to be able to bring joy and happiness to people. You know what? Don't miss out on your friendships and your relationships, okay? Spend some money. If that means going to the movies, going out and having some fun with friends, enjoy your life. But if you have to spend rash amounts of money to maintain a friendship, that's not a real friendship. Those aren't your friends, that's right.

Those aren't real friends. But if you're just spending a little bit of time in order to create time with folks, that's different. A little bit of money to create time with folks, that's different. So it sounds like you know where you're out of bounds. Dial it over one notch, not ten notches, and you'll be okay. There you go. Good stuff. Good question.

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Dr. John Deloney joins me on air today. Newly minted Ramsey personality answering your questions. Abe is next. Abe is in Illinois. Hi, Abe. How can we help? Hey, Dave. Can you hear me?

Absolutely. I can. Hey, Abe. How's it going? Hey, how are you? Outstanding. Hey, Dave, can you hear me? Absolutely. I can. Hey, how's it going? Hey, how are you? Outstanding. Hey, Dave, I just wanted to say you opened my eyes at such a young age. I'm only 16. I used to spend money like crazy, but, you know, now I just save.

Because spending money to, you know, the people you don't like is, as you say, stupid. But my question is, so my parents own a small business, and they're freaking out because all they watch is CNN, and they're freaking out about the coronavirus, and I wanted to know if you could help me help them. Okay. Man, I wish I was this wise when I was 16, Dave. Abe, you are making me feel better about future generation, man.

Way to go. Thank you so much. Here's what I'm going to tell you. I would be real direct with your folks in a kind and respectful way, but I would say, hey, ask them to connect with you. That could be, hey, I would like to go for a walk. Please turn the TV off. Tell them some crazy guy named Dr. D on the radio on Dave Ramsey's show said, hey, let's just turn the TV off right now and let's go for a walk.

My son is nine. He challenged me to a Domino's interaction a few months ago. And now it has gotten to quite the fever pitch in our house that we talk some trash and play Domino's together. But just just little ways to connect. And also, hey, what I would tell you is something i didn't get when i was 16 is the fear the the worry your parents have that's real like they love each other they love you they want to make sure they they are providing for you and so right i'd cut them some grace and some slack too but um as respectfully and kindfully as you can i would i would recommend that you uh

ask them to turn the tv off and connect with you directly. Yeah, distract them. Right, yeah. For sure, yeah. Or just start smashing the windows out. Maybe they'll, I'm just kidding, don't do that. Give them a different crisis. That's right. Yeah, you can tell them about the drug problem you have. Yeah.

Throw a little distraction into the mix. Oh, so, you know, the thing that happens, and it's very difficult for parents of almost any age to take advice from their kids. It won't happen probably until you're 60 and they're 80. But until then, they're probably really not looking for you to help them. That's right um and uh so you're not in a position of uh you're not in a seat that that that allows you to speak uh much uh it's not not not telling you have to stuff your feelings that's not my point my point is is that moms and dads don't really care about your opinion right now um you know the because you haven't been there yet and that kind of stuff, even though I don't doubt that your opinion is actually on pace here.

So a couple things you can do, and I just do this about a lot of things where I have someone I need to talk to that's not going to listen to me, is I try to think of who else that could talk to them, their pastor, their pastor, mom, dad, have you all talked to a pastor? Have you talked to Uncle Joe who's really good at business? How's he feeling? Have you talked to Uncle Joe, who's really good at business? How's he feeling? Have you talked to whoever?

And then the second thing I do is I pray for them. And then the third thing is I try to put new information in front of them that is, hey, I just read this article, Dad, what do you think of this? And it's, you know, like I posted the good news thing the other day on Instagram, and it's like 300,000 likes in 20 minutes. It was bizarre. It was a list of all the good news things happening around the whole subject of coronavirus and giving us hope that it's not forever and it's not going to last forever.

Just say, hey, I saw this post. Look at this. And let's try to get some good inputs in front of their brains not just bad inputs uh but for you to sit down and give them wise counsel at 16 years old might be a little laughable so i really i probably wouldn't try that angle we call it the powdered butt syndrome once someone has powdered your butt they don't want your opinion on money and sex so that's how it goes but abe i'll tell you this i had a situation last year where my son came in and said, Dad, do you love the Astros as much as me?

This is pre-cheaters. And I was watching the Astros every night. And he just asked, do you love them as much as me? And that one question, I turned the TV off and I connected with him. You love CNN as much as me? Nobody loves CNN. Nobody loves that. That's right. That's right.

Find the ways to connect. Interrupt, interrupt, interrupt. Jerry is in Iowa. Hi, Jerry. How are you? Yeah. So I got to comment a question. Comment is that my wife and I, we're really not scared at all.

We're taking this seriously, but we really do have a lot of peace in Jesus. One of the few shows you can say that on the air. Amen. Good for you. We're getting extra sleep and doing the elliptical, reading books and chilling. Good. For me, it's a good excuse to recharge. Amen.

Outstanding. We are calling people with encouraging words. words, but my church pals and my wife and others, we got this percolating question going. And so in one corner, we have a couple of Bible verses, Psalm 37, 21, that evil man borrows, doesn't pay back, and the proverb, I can't tell the verse, I'm kind of nervous. A good man leaves an inheritance to his children's children. So that's in one verse or one corner. And then in the other corner, we've got our American duty to spend government-free money checks on the way. And so I've got this plan I've kind of cooked up with through consulting

with people. And my plan is to, uh, calculate and accept the rebate part, uh, for the taxes we've paid, uh, for these checks on the way, but the stimulus part, I want to send it back, and this is crazy, with a note that instructs the government to put it on the national debt, if anyone cares. But I do want to pay some percentage for the military and border security, so I don't just want zero taxes. So my question is, I've asked people, and no one can tell me or will tell me, and I can't find out is, um,

is this, are these checks coming to us? Are they going to go on the national debt? Cause if they are, I feel it's really immoral and I just don't, I just don't want any part of it. But on the other hand, you know,

of course it's going on the national debt. Yeah. There's want any part of it. But on the other hand, you know, there's been money. You know, we've got to do stimulus. Yeah, there's not any money in Washington. Of course it's going on the national debt. They already spend more than they make than they have coming in. That's what a deficit is. And when you add to the deficit, there's only one way to finance that, and that's national debt. So, of course, we're getting ready to borrow about another trillion dollars up there

for these various stimulus packages so that Washington, of course, we're getting ready to borrow about another trillion dollars up there for these various stimulus packages so that Washington tells you they did something, that they love you, and that they're your great provider. Although I doubt $1,000 is going to change anybody's life. As a matter of fact, I'm sure it isn't. So as far as the biblical part of it goes, there's a construct in the book, The Legacy Journey. I'll send you a copy of it so you can read the whole thing because you're intrigued by this right now, and it's a good place you are in your life. The construct in Scripture is very clear.

I call it now, then, us, them. Now is take care of your own household first or you're worse than an unbeliever. So your job is to take care of your family, biblically, before you do anything else. Us is take care of now, then. You take care of then, now, then, us, them. Now, then, you take care of your future. You save for your kids' college and retirement. In the house of the wise are stores of choice food and oil.

Now, then, us is your extended family, and that's leaving an inheritance to your children's children, where you start talking about helping others outside of your extended family, and them is when you start helping the entire community outside. So in other words, if you get a stimulus check or you get a check from anywhere and there's not food on your table, but you send it back for some social good. You are out of order biblically. Biblically, you should have taken care of your family first.

And that's all through scripture. It's a very clear construct in there, but that's putting the scriptures in a connected way that allows you now, then, us, them. I'll send you the Legacy Journey book. Hold on. Zach will pick up, and I'll give it to you as a gift, give you something else to read while you're in your 14-day sabbatical here. This is The Dave Ramsey Show. Thank you. Our scripture of the day, Matthew 621,

For where your treasure is, there your heart will be also. My friend Simon Sinek says, Working hard for something we don't care about is called stress. Working hard for something we love is called passion. Very good. Dr. John Deloney joins us this hour and has the entire show today. Newly minted Ramsey personality answering your questions about stress and about fear. And we've said repeatedly, stay calm. We've said repeatedly stay calm we've said repeatedly please be kind

when you get ready to put a nasty thing on social or say something nasty to your friend or your own relative or about your own boss who's giving you money to feed your family you're out of line and you need to breathe a little bit and just stay calm and every one of those things have happened this week in my life every one of those things and have happened in your life too crazy but people man a friend of mine was in walgreens that got yelled at by some random hipster who because she stepped across the blue line, which was just put down with a piece of tape, apparently, to create social distancing from the cash register.

Oh, my God. I mean, if you didn't want them, if you felt like this lady was in your way, all you had to do was just turn around and say, Ma'am, that really scares me when you do that. Just step back over there. You don't have to yell at somebody about the blue line in walgreens oh my gosh well that just that says something about who you are that's right it doesn't say something about her it doesn't say anything about social distancing it doesn't say

anything about the coronavirus it says you have become a jerk in your fear, and you need to breathe before you treat your own relatives badly. You ought to be ashamed of yourself. That's right. Before you treat your friends or a stranger in Walgreens. Anybody. Or yourself. Yelling at yourself. Telling

yourself how lame you are and how ridiculous you are. Because you didn't have your emergency fund. Dave Ramsey told me two, five years ago, and I didn't do it, so I don't have an emergency fund. Not going to help you. I'm not yelling at you. You are not your yesterday. I'm here to help you.

Start today. I'm here to help you. I'm not mad at you. I'm not going to say I told you so, although I did, like, for 40 years tell you so. But I'm not going to say it. I understand. Everybody has their moment, and this is yours. This is your personal Great Depression when the form, the habits, and the character traits of your life will be permanently changed to better.

And start with kindness. And start with kindness. Start with kindness. Do it right now. So we're going to start with kindness. Go to DaveRamsey.com slash hope. And we've taken our $100 high school home study course called Foundations in Personal Finance. Since a bunch of you have high schoolers at home in your home study,

all of a sudden you're now homeschooling. Instead of $100, it's $20, which is basically free. If you want to go through the Total Money Makeover book, the audio book is $1.99. Ken Coleman's number one bestseller, The Proximity Principle, $1.99. The Every Dollar budgeting tool is free. You've got some downtime. Build your budget.

I'm going to be putting stuff at great deals and free like you have never seen before in the next 14 days at DaveRamsey.com. Our leadership team spent the morning going, what can we do to help people that won't break us and that will help you that cost nothing or almost nothing a bunch of you are engaging in kindness you're engaging in generosity and we want to give you a tool to do that we're going to sell a case of total money makeover books the cheapest we have ever sold them eight dollars a piece case at a time it gives you 24 people's lives you can impact. It could be the UPS man.

It could be the gal at the grocery that you see all the time. It could be your relative that instead of being a smart ankle to them, you're kind to them. It could be your whatever. I don't know. You name it. it the friend don't use these books to beat people up don't use dave ramsey to beat people up i see this stuff on social right now it makes me angry don't do that dave ramsey's gonna kill you no he's not he's gonna help you i love you i want to be kind to you i've been good to you for 30 years i'm gonna keep being kind to you. I've been good to you for 30 years. I'm going to keep being good to you. It's worked well in my life. It's a good formula. I've got

a great life because of that. So plug into that, man. Plug into that. So Total Money Makeover books, a case of $8 a piece. The case isn't $8. The books are $8. But still, these deals are unbelievable. DaveRamsey.com slash hope. And check it again tomorrow. We're putting

up more stuff. And check it again the next day. We're putting up more stuff. And check it again the next day. We're putting up more stuff. And check it again the next day. We're putting up more stuff. And I'm going to do a meeting right after I finish the show, and we're working on some more stuff and how quick we can get it loaded and redo all these websites. Oh, my gosh.

Everybody's working from home here, so it's slowed everything down to a crawl. We used to do stuff in 10 minutes. Now it takes five hours, but we'll figure it out. We'll get it done. We're going to get it up and help you guys out. we're doing the show from the studio but it's with just a handful of people everybody else at ramsey's working from home so um it's a big opportunity to learn how to take care of yourself and take care of others right now dave i'm an introvert from texas so it hurts my heart to say what i'm about to say but we have to stay connected to

stay well through this next few weeks few months whatever this is going to look like and I so badly want to be able to cross my arms and go out on my field on a horse I don't have any of that stuff but just the myth right that I can do all this myself and you can't so we're going to have to work to stay connected to our

communities and to our friends and to our family and our loved ones my church and my small group met on zoom yesterday and i uh that was awesome i facetimed with my my buddies my college roommates kids the other night that i laughed felt so good just laughing and being silly and my wife and some moms put together get this um they did my four-year-old daughter josephine they did her um easter program via zoom yesterday you want to talk about chaos and hilarity man it was awesome watching these little kids it was it was a blast we've got to figure out ways to stay connected to one another yeah and um you know and just you know

don't be it's okay to be concerned about the economy. You're not right if you're not concerned, right? Yeah. It's okay to be concerned about even the impact of the coronavirus. That's right. But both are probably not going to hurt you like your worries are telling you, like the tapes in your head are telling you. And unless you take over reaction action. There you go. And so don't take out your retirement.

I have not pulled a dime out of my stock market, my mutual fund investments. My 401K looks exactly like it did three weeks ago, except now it's more like a 201K. One and a half, one and a half 1K. But it's just, you ride the roller coaster. Nobody gets hurt on a roller coaster except those who jump off in the middle of the ride. I've said it all along. I get quoted all the time on it, but it's exactly right. Ride it out. Ride it out. Where do you think the American economy is going to be in five years?

Where do you think it's going to be in three years? Where do you think it's going to be in a year? And how many times have you taken something even as bad as 2008, which is probably worse than this, unless we decide to stay inside for four more weeks, and then we may be worse than 2008. But if we bring this to a close in a couple of weeks, which it appears that people are going to, I'm hearing a lot of signals that way, and people get back to their lives, and then the cure isn't worse than the virus, then I think you're going to be okay.

A great mentor of mine used to always say, when you experience a crisis in your life, do nothing. Just stop. Don't do anything for one month, two months, three months. Don't go buy something big. Don't go sell something. Just chill. And that wisdom of don't, you said it 10 times today,

don't do things when you're panicked. Don't do things when you're stressed out. Just find people to connect with. And connect in ways you haven't connected ever. I've never FaceTimed my friend's kids until the other night and it was awesome i'm going to make it a regular practice going forward yeah i've never seen a four-year-old easter program done via zoom or skype or whatever that was and it was awesome it was all chaos and awesome yeah there's still ways to live life and we don don't have to panic. It's okay. You're going to be okay.

You're going to be okay. That's right. You really are. And just plug into this stuff, folks, and stick with us. Keep hitting DaveRamsey.com slash hope, and we'll keep putting up free things you can do from home or super inexpensive things you can do. We're going to put up a bunch of our classes and a bunch of our stuff online,

and even start doing some virtual FPU classes. We'll talk to you more about that in the coming days when I get it all set up. I get it all set up. All the people that are doing the work will get it all set up, but they tell me when I get it done. That's right. That's right. That's right. Dr. John Deloney, thanks for hanging out today. You bet. Blessings to you and to this crew and to everybody listening. Amen. Everybody be kind. Be a little more kind.

That puts us out of the Day Ramsey Show and the books. 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. visit DaveRamsey.com slash show and register. We would love for you to come to Nashville and tell Dave your story.