The Ramsey Show - App - Online Sports Betting: The Latest Trend for Teens (Hour 2)

Episode Date: July 20, 2022

Dave Ramsey & Kristina Ellis discuss: Paying for closing costs on a new house, The ROI of an MBA, The rise of teenagers betting on sports. 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

Live from the headquarters of Ramsey Solutions, 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 they love, and create actual amazing relationships. Christina Ellis, Ramsey Personality, number one best-selling author, is my co-host today. Open phones at 888-825-5225. Daryl is in New York City to start off this hour. Hi, Daryl, how are you? Hi, Dave, I'm good. Thanks for taking my call. Sure. What's up?

So my wife and I, we're in contract to buy a new apartment, and we're trying to sell our old apartment, but we're having a tough time selling it. So we're kind of sitting with a couple of options in order to raise the money to do the closing. So we can either slash the price of our apartment and just take a loss on it. I have an inherited IRA from my mom that I can liquidate and pay tax on in order to fund it. And my wife has some stock options that are vesting in November that we can possibly use,

but it wouldn't cover all of it. It would cover about half. Or we can just walk away, actually, because there's a clause in the contract that would give us the ability to kind of walk away from the new apartment. You're not going to like my answer, Daryl. Oh, boy. Okay. You're not going to like my answer, Daryl. Oh, boy. You're forcing yourself into a corner if you own two properties because you refused to deny yourself the new one.

So either your house sells or you've cut bait. Got it, got it. Now, what is your current property on the market for? We put it on for $825,000. What is it actually worth? Not what would some goob give for it, but what's it actually worth? I would say probably about $750 for being realistic about it. Okay, so you were fishing for a sucker fish.

Yeah, this is with 421A abatement in New York City with property taxes. I know, I know, but you were fishing for it. It's not, even with the abatement, it's worth $750. Yeah. Yeah. And so what we're really saying is because I won't try to sell my current property for what it's actually worth, I want to get a premium above what it's worth. Then I've got to look at am I cashing out something and creating a taxable situation, or am I going to borrow money, or what am I going to do?

Now, cut your property to what it's worth and sell the stupid thing and if it doesn't sell let the other one go okay that's what i would do it's uh but what i am just describing is very emotional because what i just did was i stuck a pin in your little dream and blew it up yeah and it's all right because i i mean i use my inheritance to make the deposit so just loot like you're gonna lose that i thought you said you had an out in the contract well i know well um to to put the deposit when we originally bought this home it was 150 000 i got some life insurance and i'll use that as a down the down payment on this property no you didn't do a down payment because you're closed on it.

You mean you put up an earnest money of $150,000? No, the property we own now. The new one we saved and put the money, we saved all our bonuses and things to put the down payment on that. I'm just talking about the one that we own now. Okay, wait a minute. Stop. You don't have a down payment on something unless you own it. Have you already closed on the second property? No, we haven't closed on it. Okay, then it's not a down payment on something unless you own it. Have you already closed on the second property?

No, we haven't closed on it. Okay, then it's not a down payment. It's an earnest money. All the equity. Yeah, the equity that we have in this apartment is the inheritance I put in, basically, on the current one. That's what I'm saying. Okay, let's separate the two for a second you have a contract on the second deal that has a contingency in it that allows you to not close correct that's right you would not lose

your deposit on that property if that contract has that kind of contingency that's correct okay so you're going to get all that money back if you don't close, and you'll be living in your original property, and that is heartbreaking because your mind and your sweet tooth is already set on the new place. Agreed? That's right. Okay, now, what did you pay for the current property that you are living in?

$765,000, and then we redid the kitchen for 25 000 okay so you've got almost 800 in it but it's not worth that that's right okay so you're going to lose your kitchen remodel money but you're not going to lose 150 000 by selling the same thing for 750 or 760 yeah it's just a lot of fees with brokers and all that stuff. But, yeah, we'll walk away with something. It just won't be, like, you know, what we wanted. What you wanted was more than it was worth. Yeah.

So what you wanted was unrealistic. How long have you owned your current apartment? We bought it in 2017, so it's been about four years four or five years okay what's your household income uh we're at about 530 000 way to go man um i you can do what you want to do you called called here and asked, so I'm obligated to answer. Number one, I wouldn't close on the deal unless the other one's gone under any circumstances. Number two, there's a whole lot of things I'm hearing in this conversation that makes me think you impulse your butt off on this second purchase. And now you're stuck in it and you're emotionally stuck in it. I think it might be likely is wise for you to just cancel the other deal and enjoy your current million dollar property for a little while.

And sit there and make 550 and pile you up a big old pile of cash. Let the value of that thing come on up a little more so you're not having to hold your nose when you sell it. Live in it another year, two, and then make a move on a much more wise, more solid footing than you're making right now. I think y'all were out wandering around one day and saw an open house and bought a house. That's what it feels like. Yeah, and especially with his income, he could probably save up to a really great position pretty quickly. Those stock options come in. A lot of other things come in. You're forcing this.

You're forcing it. It's all over over it and it feels very impulsive feels very um well it doesn't feel like it was executed with a plan and um so i i would not tell you under any circumstances to own both of these properties so one of them has got to go you need to get the one you're living in sold and just bite the bullet and say that's it i really want the other one so badly my wife really wants the other one so badly that i'm willing to lose whatever i lose on that and i'm out of there and i'm going to go buy the other one um and then we're going to keep making 550 we're going to get the stock options we'll get it paid off pretty quick you're going to be in good shape either way but it won't hurt you to sit in this one another 18 to 24 months and look for another deal.

It won't at all. It won't at all. But I would never tell people to buy two houses at once, to own two houses at once. This happened one foot on the boat, one on the dock. The dock's leaving. Your butt's going to get wet. That's what's going to happen. You're going to fall in.

Man, I've watched that for 30 years happen over and over and over again. And you could get away with a lot of that stuff when the market was white hot and crazy. Like he listed that thing at white hot crazy prices, the auction prices, and didn't get it. Those days, as we can tell, are starting to go away. Thanks for the call. Hey guys, George Camel here, and I'm so excited to tell you about the newest product from Ramsey. It's called Gazelle, and it's a digital banking experience that will help you spend and save the Ramsey way with banking services provided by PathWord NA. You'll get a single spending account with no monthly fees, and it's FDIC insured through PathWord NA.

We're offering early access to our beta customers, so you can help us make it the best experience it can be. Just go to ramseysolutions.com slash gazelle to sign up for the wait list today. Okay, I don't know New York City values and what they have done. I have not looked at them other than New York's expensive market. No kidding, Manhattan. But how that condo, apartment, co-op, whatever is in there, from 2017 to now, did not go up in value. I'm struggling with that. And Christina caught that. She's at the break going, why didn't that not go up in value. I'm struggling with that.

And Christina caught that. She's at the break going, why didn't that thing go up in value? So something different about those numbers are that situation that we didn't understand, probably. But the principle still stands. In the last two years, you have been able to buy another house knowing that yours would sell over the weekend because the market was so white hot. If you simply put it on the market, it would begin an auction process, and it would be gone with 85 offers in five days, right, or four minutes or whatever.

Those days appear to be gone which i think as i've said before is good um and so now you've got to put a house on the market for what it's actually worth not for what you think some sucker will give you for it um and it's probably not going to bring anything except what it's worth and if i'm asking him this thing's worth $750,000, but he's going to lose money on it because he bought it for around $750,000 in 2017. It never went up in value. Most markets in America, a property worth $750,000 since 2017 has gone up $300,000 or $400,000. So there's something weird about those numbers. Christina mentioned that at the break.

Yeah, that's strange, especially with everything that's been happening in the housing market. But it is interesting seeing things turning now and it not being so white hot. I think that's probably a good thing for everything to kind of balance out. Yeah, for people to be able to actually, you know, have to not have to have a panic as they buy things. But for 27 of the 30 years that I've been on the air if you were going to buy another property you had know that it was going to take some time to sell yours and it was contingent upon and you could enter into two deals if you had the money to do the down payment and qualify for the other mortgage you could end up owning two properties which what that always ends up doing is putting a strain

on your finances and then you become what on your first property you become what's known as a motivated seller and you will give the sucker away that's 27 of the last 30 years now again in the last year or so it's moving back that direction but there's about a two-year pocket in here where you could buy a house without a contingency on the sale of yours, knowing that you put yours up for sale, it was going to sell because everything's at auction everywhere. It was just crazy. But that unrealistic market is gone, number one, in most cases.

Number two, you can't let what you can pull off in an unreasonable market become a way of doing business because that unreasonable market was covering up for your risk your stupidity because you could have got caught with one foot on the boat one on the dock so prices aren't going down we don't see that we don't haven't seen except for some rare market situations individual market situations nationwide we're seeing prices hold steady uh all projections are that 2022 they're going to go up about eight percent nationwide they went up 18 last year and 29 the year before and um we're still seeing a shortage of inventory so even if the recession is is deeper than what it looks like it's going to be even if the uh the continued economic garbage out there inflation everything else continues to pinch buyers budgets even if all that happens we don't think we're going to

see prices go down and it's a good time to sell a house it's not as good as it was a year ago but it's still a good time to sell a house because there's still a shortage of inventory it's a better time to buy a house than it was a year ago because you don't get into one of these bidding wars and you're not competing with people uh that are putting in offers with no appraisal uh no contingency on financing uh if they're getting financing no uh inspection uh no nothing we're just going to buy the house oh and we're going to pay more for it than it's worth than the appraised value so in this market you really need a professional real estate agent by the way that's true of almost any market but you really need somebody that has done a lot of transactions not your uncle harry or uncle larry that just got his license somebody done a lot of

transactions go to ramsey solutions.com click endorsed local providers these are real estate agents that do a lot of transactions that we have vetted they're good people they are ramsey trusted they know the business and they can help you navigate all this weirdness out there and keep you from getting caught in a pinch david is with us in la hi david how are you hey good how you guys doing better than we deserve what's? Hey, good. How are you guys doing? Better than we deserve. What's up? Hey, two-part question for you guys. So I graduated about two years ago with my undergrad in accounting finance, and I've been working now in commercial real estate, a section eight affordable housing as an acquisitions analyst. And I'm trying to pinpoint, um, a, whether I should go back and get my master's or

master's now or wait. And what you thought about online versus in person, or is it just based off like the quality of the institution, like USC, UCLA, or should I get like a real estate specific master's of science versus an MBA? I know I just do a lot of it. That's okay. What do you need an MBA for? I want to be more competitive. I want to refine my skills, step into a leadership or executive position or run my own company at some point. And also... None of those

things require an MBA. Right. Yeah, I mean, I guess if you're... I i mean you actually think as an analyst you're doing analyst work you actually think you're going to learn something getting an mba that's going to help you analyze the properties better than you're analyzing them now no that's that's why i i knew that in the back of my head like i don't think they're going to tell me anything specific to what i'm doing it's going to help me do it better. You're just collecting merit badges. Yeah, I mean, that's what it kind of seemed like to me.

But at the same time, it does help to get you a position, maybe like a Blackstone or a very big private equity firm. Now, that would be true. They do like to see that. That would be true. With the company you're currently at. It has nothing to do with running your own business, though. No. So are you going to go Blackstone or are you going to run your own business?

Well, I figured I would learn from the best, and Blackstone is really one of the biggest asset managers, and they're getting into this affordable housing space. It's kind of starting to blow up. Now it's, you know, rents increasing and people not making enough to be able to afford, I'm generalizing a lot. I understand. It seems to be a growing...

I'm just challenging your paradigm. Yeah, no, I like that. And I'm sorry, I missed a question there. I think there was a question asked. With the company you're currently at, is there any type of growth track for having an MBA? Have they outlined anything that if you have an MBA, you make more money or you get more opportunities? So that's a question I can bring up with my boss

during our one-on-one, but I did ask if they would help compensate for me because that's obviously a big factor. They're really expensive programs. And he said he wasn't sure and he's going to get back to me on it. But, I mean, I know you can't really trust the marketing on some of these programs. Like UCLA has a FEMBA. It's a fully employed MBA program, and they show that their average starting is like 156.

I love that you asked your boss that, because a lot of times companies will offer some sort of tuition reimbursement or assistance if you're wanting to get an MBA and it helps you within that company. But I also agree with Dave, you don't necessarily need it. I think it's super important to question, you know, where is this leading and is it necessary in my journey? All right, let me go back a couple of steps then. Okay, number one, MBA programs are generally excellent programs, and generally it will help you with, if nothing else, it will really enhance your strategic thought.

Almost all MBA programs lean in on teaching critical thinking around strategic thought, and they do a great job. So for someone like me that's an entrepreneur where my natural tendency is more tactical than strategic, having some MBAs around me is a really good thing. And I've got a bunch of them on our team here. I didn't hire them because they have MBAs, but I learned from them strategic thought that I didn't know. So it's good for that. You can overpay for it.

Where you go to school doesn't matter. You're going to get a good lineup wherever and no i would not pay big money for one under any circumstances number two i don't want this i don't want you to think this is causing you to become successful uh it might get you in the door at blackrock that might be real other than that it's not the secret to your success um i think you probably ought to go get one but I think you're giving it too much credit. I think you're giving it more power than it actually has. It's not the secret sauce, dude.

You are. Your memories are meant to be relived, not chewed up by the VCR or worn away with time. Converting your old media with Legacy Box stops fading in its tracks, so your home movies are safe forever, and you can trust Legacy Box. I've met the founders. They're right here in Tennessee, and they've helped over 1 million folks protect their memories for a limited time you can get started for just nine dollars a tape at legacybox.com slash ramsey that's legacybox.com slash ramsey Christina Ellis, number one best-selling author and Ramsey personality, is my co-host today. Open phones at 888-825-5225. In the lobby of Ramsey Solutions on the debt-free stage, Chris and Susan are with us.

Hey, guys. How are you? Hi, Dave. Hi, Christina. Hi, guys. Welcome. Where do you guys live? Mesa, Arizona.

Oh, welcome to Nashville. Thank you. We have humidity. Yeah. We found that out very briefly. Yeah, it's a different kind of heat. Yeah. So, fun.

How much debt have you guys paid off? $371,000. Way to go. And how long did this take? Almost seven years. Good for you. And your range of income during that time? We started right around $100,000 and I would say almost tripled that. So up to about $300,000. Yeah.

Cool. What do you all do for a living? I'm in procurement. And I'm in food distribution and I do HR generalist work for a tech company, and I'm a photographer. Oh, you're busy. Okay. Wow. Way to go. Cool. So seven years, $371,000. You pay off your house? We paid off our house. I'm looking at weird people. Some weirdos in the house. I love it. So what's this house worth?

This morning I looked at it, $874,000. I love it. Whoop, whoop, whoop, and it's all yours. All ours. 100%. Very cool. How much are in your retirement accounts? About $260,000.

Okay. So you're Baby Steps Millionaires. We are. You did it. We are. How old are you two? I'm 48. And I'm 46. Before you were 50. Yes, sir. House is paid for and you're millionaires we are you did it we are how old are you two i'm 48 and i'm 46 before you were 50 yes house is paid for and you're millionaires that was our goal dave i'm so proud of y'all way to go man

living the dream thank you very cool so what started this process seven years ago tell us your whole story and how you got connected to ramsey yeah we were actually gifted financial peace university by a former employee of yours who's here with us today, Christy Albers. Oh, really? Christy's here? Oh, my gosh. She's hiding around the corner. She gifted it to us, and we honestly didn't think that we had a problem with our finances. When we looked around at our friends, we didn't have school loan debt, and so we just had a minimum of credit card debt and so we really didn't think we were in bad shape but then when we started the classes we realized that we needed

to have a much larger vision for our future and when we started kind of running the numbers we realized at our age we didn't really have time to spare. Oh a little wake-up call then. Big wake-up call. Okay, all right. So you sit down and run the numbers. You go through Financial Peace University and you say, we not only can do this, but we need to. Yeah, absolutely. Absolutely.

And we actually had a lot of fun. I mean, we may be a little different than some of the folks that you have on. We had a lot of fun with it. We really enjoyed the goal setting and we enjoyed being a little competitive with each other. Since I had my side photography business, it was kind of fun at the end of a month to sit down and throw down another thousand dollars or something. And he was, she got, she got very lucky to marry somebody who loves spreadsheets. So yes, absolutely. Number one, the nerd, he did the spreadsheets. Yes. Absolutely. Number one.

The nerd. He did the spreadsheets. I did three jobs. So, you know. A fair trade. A fair trade. So we loved the program. We actually thrived with boundaries.

I think we both learned that during the course of going through our journey. But what was really interesting is we would be making all this progress and then all of a sudden it would feel like we hit like a roadblock. And we didn't really understand why because we were totally in alignment with where we were going and how we were getting there. And so we'd step back and we'd look at what we were doing and we would realize that we had missed a vital piece of your plan.

And it may have been a small one, but it was vital. When we got married, I didn't get married. I was almost 40 years old. So I never even thought about combining our bank accounts. It's not that I was trying to be intentionally obstinate, but it just never crossed my mind that that was something that I should do. And so we would have budget meetings, and they would feel tense, but it just never crossed my mind that that was something that I should do. And so we would have budget meetings and they would feel tense

and they shouldn't have because we were completely aligned with where we were going. But then we took a step back and went, wait, we never merged our bank accounts. What are we doing? And so we would take a step back, do a course correction

and all of a sudden, grease on the wheels, we were rolling again. So we had several of those moments. So y'all had a pretty big income jump. Were you just working like crazy? Like what all did you guys do to get out of debt? Seven years is a long time, right?

A lot of that's career progression, right? And then Susan just working multiple jobs. And as a photographer, she's just trying to get multiple photography jobs. So she's just rocking and rolling. Like she said, she'd throw an extra $1,000 a month in and just surprise. She gets great thrill out of traction. I really do. It's awesome.

I really do. I really do. Yeah. Yeah. It is a game. Yeah. It is a game. Absolutely.

I love do. Yeah. It is a game. It is a game. Absolutely. I love it. What would you tell people is the key? Of all the amazing things y'all learned, all the hustling you did, what's the key to getting out of debt? I mean, the biggest key for me was all these little course corrections that we did during the journey led to one of the biggest alignments that we had to do, not only with the Ramsey Plan, but with the Lord. And that came the beginning of this year. So we were already six years into our journey.

And in February, our church, which if it's okay, it's Christ Church of the Valley. Yeah, we love those guys. Yeah. So Pastor Ashley Wildridge, he did his annual tithing message. Yeah, we love those guys. Lord did in your life. And so Chris and I talked about it and we had always given what we believed was quite generously to the church, but we weren't, we, we weren't tithing. We were tipping really was what it came down to. We thought we were being obedient. Um, but really, you know, it really put us over, uh, over the edge. Um, we were so close to paying off the house. And when I say so close, 100,000 or what. But really starting to tithe really made that jump.

And if you look at the numbers, it shouldn't have worked. Yeah, it should. It absolutely worked. We decided in March to take the church up on the challenge and to finally get completely aligned with your plan because that was another one of those we did that class and we went oh yeah we give check but we weren't being fully obedient and so we made the decision in march to do that and i would say it wasn't two weeks later um and we originally were projected to pay off our home in October of this year.

No, next year. No, October of next year, sorry. And as we made all these course corrections, we were able to speed up the progress and speed up the progress until it was October of this year that we were going to pay off the house. And we were even so confident in that date that we submitted an application to come on the show at the end of the year and do our scream. And then in March, when we decided to fully tithe

and fully be obedient to the Lord, about two weeks later, Chris texted me and said, I just looked at the numbers. We can actually do this now. And I want to be really clear that it wasn't that we started tithing and then ran into some kind of windfall no we didn't inherit money we didn't find money in fact our income may have gone down a little bit because Chris made a career change but there was a clarity that came over us that all of a sudden these numbers that were in all these different piles yeah perspective and so we called your team here and we said just kidding the application up we're coming to nashville i like it yes and don was awesome and she got us she got us right in very cool don's amazing all right baby steps

millionaires book for you that's um that's what you are way to go i'm so proud of y'all you're an amazing couple beautiful beautiful beautiful also a total money makeover book for you to give away to someone and bless them you know the stories now in financial peace university with the brand new videos in it with dr john deloney and george camel rachel and me the best best series we've ever done so and uh tell pastor we said hello we love that church and him as well it's wonderful people count it down guys chris and susan mesa arizona 371 000 in seven years let's hear a debt-free scream three two one we're dead That's incredible It's powerful stuff Man oh man oh man

This is the Ramsey Show Thank you. Christina Ellis is number one best-selling author. Ramsey Personality is my co-host today. Open phone is at 888-825-5225. Article handed to us by Kelly as she's producing the show today as sports betting grows states tackle teenage problem gambling with online and retail sports betting now legal in more than 30 states the portrait of a new problem gambler is emerging the high school student. Although the legal age for gambling is 18 to 21, depending on the state, between 60 and 80 percent of high school students report having gambled for money in the past year, according to the National Council on Problem Gambling.

The group says the pandemic and easy access to online gambling have heightened risks for young adults. Four to six percent of high schoolers are considered addicted to gambling, the group says. The percentage of high school students with a gambling problem is double that of adults, research has found. And as sports betting becomes pervasive in brick-and-mortar betting parlors, and often for anyone with a cell phone, state gambling addiction services are underfunded. Kids who have problems fall through the cracks, says the person doing the study. So, it's a problem.

Four to six percent. That just blows my mind and breaks my heart. Well, sports betting, the advertising budget for it is astronomical. Obviously, we've seen Caesar and all the other Super Bowl ads running and ads running around this stuff, pushing, pushing, pushing, pushing, pushing. And it's all based on a cool factor. You know, FanDuel, you're cool if you're sports betting because you're up on sports and you're a player, you know. And so mix those things with being a high school student and you have a disaster on your hands.

And parents that don't know what the flip your kids are doing online. What in the world, mom and dad? So, well, I can't monitor everything. Then don't let them. I mean, mean oh my gosh well this younger generation seems to have such a um a drive and a curiosity around money which in many senses is good if they're wanting to join the ramsey plan and do investing the right way but we see so many kids getting involved with crypto and this and it's just like there's so

much confusion it's like if we can channel that desire to learn about money and invest and build wealth into really stable methods that's awesome but this well what you've got is people who are emotionally immature they're teenagers they're physically immature they're teenagers their brains aren't fully developed and you've got an entire generation that has never known a day without a cell phone without a connection to the internet that it's all it's existed and been prevalent in their lives their entire lives so it's very normalized and then mix in the highly addictive addictive behavior of gambling oh and mix in ease of access and anonymity and the ability to do it in secret in a deceptive way uh and you have a real recipe for disaster here yeah so what

would you say a parent should do if they find out that their kid is involved with this well here's the thing we do know the uh we work with people who have financial problems in portions of our business, not all of our business, but we work with wealthy people and we work with people with financial problems. We know that personal finance is 80% behavior. We also, when we see the problems, we know this. 100% of addicts have financial trouble eventually 100 um because it screws up your life it becomes your god and it sucks all the the actual available financial resources out of your

life and channels them towards this destructive behavior the fastest so we deal with addicts all the time is what i'm saying we're not specialists in helping people with fastest, so we deal with addicts all the time, is what I'm saying. We're not specialists in helping people with addictions, but we deal with addicts all the time because of their money stuff. And so we watch these behaviors. The fastest growing addiction in North America right now, by far, is online porn. It is over the top. Online pornography now makes more total revenue in america than all professional sporting events combined football nascar baseball basketball add it all up it doesn't even make it

it doesn't even come close to online porn it is blowing up and guess who else that's affecting the same exact age group okay it's affecting everyone but this same exact age group and all kinds of data on the problems that that presents the second fastest growing addiction in north america gambling see you think you think when you say addiction you think of alcohol cocaine crack whatever and they're all there the old classic addictions are still around without a doubt but there are no but they're not online accessible and these online accessible addictions are the ones that have scaled and are sneaky and they sneak into people's lives and they're easy to hot easier to hide until they're not until it blows

up and they go everywhere with you but i have i have a friend of mine who has a kid that's in his 30s and the kid uh you know he's like four hundred thousand dollars in debt on the sports betting oh my before they figured out what's going on he's losing everything he's lost his job He's like $400,000 in debt on these sports betting. Oh, my. Before they figured out what's going on. He's losing everything. He's lost his job. He's probably going to lose his little wife.

She's about had it, you know, and he's destroyed his life. But he got sucked into these things, and he called me up, and he's like, can you help? I'm like, well, yeah, I can help, but you're not going to like the solutions because my solutions are pretty brutal because it's a pretty brutal situation so we're going to treat him like he's a freaking addict because baby he is an addict and 100 of addicts go broke 100 are manipulative and 100 lie and so it's a it's a brutal business to get in the get in the dust with those folk yeah and help them to help them to love them well it requires a tremendous amount of courage and strength on their part and the people that are helping them.

So this is so dangerous, it's unbelievable. What would I do? I would just shut down the Internet. You know, there'd just be no access. There'd be no cell phones. You have a, you know, it would be like, okay, what would I do to a 16-year-old who was, you know, caught driving a car with cocaine in the trunk i'd take away the car if the law didn't i would i'd be done okay you can't you can't apparently you don't get that these things

don't go together uh you don't get to have one and uh because i love you so much i'm going to bar you from access to things that are going to kill you and whether it's a vehicle or a cell phone or online presence or avatar or whatever it is i cut out of your dadgum life because i love you so much because you is out of control puppy you know and that's that's what man and that is love even though your your kid may not feel it in the moment they may be very upset in the moment that's that's love even though your your kid may not feel it in the moment they may very upset in the moment that's that's love that's very loving but it's not the problem is it's a little difficult to tell your kid not to sports bet when you are it's a little difficult to you know tell your kid not to do crack when you are

um and you know well me i know what my dad does i know what my mom does you know it's a little difficult and so because you know rachel always says more is caught than taught so if you're working a running a life that's character based and isn't tied into this garbage then you're you can ease it's more easily then it's it's easier for you to take a stance and go, I just love you too much, let you kill yourself. I'm not going to do it because I'm still your parent. I'm still in charge. As long as you're 16 years old, you live in my house,

I can take you out and make another one look just like you. You know, we're not doing this. We're not going to live this way. That's old school parenting. I understand some of you people think that your children have freedom. They don't. They're children. It's your job to protect them from everything, including themselves. And some of you parents are wusses. You're complete wusses. And you've got to stand up and just go, no cell phones. I mean, we're talking about cell phones in general at the break. And you've got little babies. And you're going, what am I going to do

when my kids get to this age? Yeah. Oh i was talking to somebody recently and they were talking about how their third grader was the only one without a cell phone and i was like whoa i thought we had at least till middle school till we had to deal with that nope yeah so i mean these things are the phone in and of itself is not evil, but it is a gateway to evil. And so if you can't keep the gate shut, then we'll just not let you hang around the gate. That's a pretty simple thing. But this is dangerous stuff right here. And really, these companies, these sports betting companies, it's on them, too, because they got nothing in there to keep you from doing it.

They got no blockers at all. And so somebody's going to end up with a class action lawsuit shutting old Caesar down if they don't quit screwing around with these kids. This is the Ramsey Show. Dave here. You can find all of our shows with the Ramsey Network app on your smartphone. It's the only place to listen to the entire back catalog of episodes. Download the Ramsey Network app in your favorite app store today.