The Ramsey Show - App - Quit Waiting on Washington DC To Fix Your Life! (Hour 3)

Episode Date: July 17, 2023

Dave Ramsey & Jade Warshaw answer your questions and discuss:  Financially preparing for life after college, Student loan forgiveness, "How much should I have for a down payment?" "How should I pay for repairs on my house?" Have a question for the show? Call 888-825-5225 Weekdays from 2-5pm ET Here's an EveryDollar deal just for our listeners: get a 14-day free trial PLUS $15 off your first year of premium. Click the link below and start budgeting today! www.everydollar.com/jade Want a plan for your money? Find out where to start: https://bit.ly/3cEP4n6 Listen to all The Ramsey Network podcasts: https://bit.ly/3GxiXm6 Interested in advertising on The Ramsey Show? https://ter.li/s64ye3 Ramsey Solutions Privacy Policy

Live from the headquarters of Ramsey Solutions, broadcasting from the Pods Moving and Storage Studios, it's the Ramsey Show, where we help people build wealth, do work that they love, and create actual amazing relationships. Jade Walsh, our Ramsey Personality, is my co-host today. Open phones at 888-825-5225. Gabriel is with us in Fort Wayne, Indiana. Hi, Gabriel. How are you?

Doing well. How about yourself? Better than I deserve. How can we help? So glad to speak with both of you today, Dave and Jade. I'm going to dive right in. My fiance and I are getting married in October. Yay! And we're both entering the senior years of our debt-free degrees. But between scholarship refunds and our part-time jobs, we don't make much.

How can we best be financially prepared for all the changes that are coming with marriage, welcoming children, graduation, moving home, all of those things? Well, what are you going to be making when you do get your degrees and get into your career field? What are you expecting? I'm studying supply chain, so I'm expecting north of 55 a year, and then my fiance is studying athletic training, so we're not sure, but probably around 40. Now, when do you graduate? In May of 24. Okay, so your first several months of marriage, you're not going to have much of an income? Correct. Where are you planning on living?

In a house that we're renting near her school. Okay. So we already know what that budget is, and it's affordable. Correct. Okay. All right. Are you guys earning anything now? Yeah, a little bit.

You said you had some part-time stuff going, right? That's right. Yep, I'm a four-ift driver for about 20 hours a week or so. Cool. So what are you bringing in? Between scholarships and the forklift driving, it comes out to about $45,000 a year after taxes. Okay. What about your fiance? Right around $5,000 000 a year not much so you guys are just going to scrape through till may and get your big jobs in a year from now yeah and so are almost a year from now so um and you have no debt at all right no debt excellent job i had a car loan and we sold that got rid of it. Good. Good for you.

Well done. Okay. And so your question was get married, set up life, have kids, all that kind of stuff, right? So a lot of this stuff is going to happen after May, right? Not the marriage, but a bunch of the other things um we're we're yeah that's that's kind of what what we're talking about is uh how how do we um with with the potential to have children after we're married we'd like to be able to be excited whenever that that moment comes uh whether that would involve having both big boy and big girl jobs what's that that's not going to happen on the you're not going to be

excited on the income you have now right right right okay so you'll be excited after may so you know that's what i'm saying so you get married in october you live like a couple of college students as roommates except your married roommates uh until may and then we start all the other life planning stuff after may when the incomes come is that fair i i think so yes yeah i think anything else would scare the crap out of me right you know by the way you should be making closer to 100 not 55 in supply chain really okay coming out of the gate making 80 80 minimum yeah i'm here for that absolutely make it a lot easier to be excited right yeah yeah about a lot of stuff but yeah so uh i mean so what i would do is what you're asking is kind of how to set up so i would set up the household in the budget like a couple of college students living on uh you know day old

bread and last week's mayonnaise right and that kind of stuff until you get to may because that's what you've been doing it's how you've made it this far right Yeah, you don't need to change that plan until your income changes. You're living in the house that you're going to be, who's living in the house that you're going to be renting? Because somebody's already living there, right? Right. So I'm living in it currently. Okay.

And she's being a summer RA. The good news is. When we are married, we'll both be living there. Yeah. The good news is you've already been living there on the income you have. You've already been holding up your lifestyle. She's going to come into that is she has no debt right correct okay so and she's bringing you know five thousand dollars whatever to the table so it sounds like you like dave said you've got enough to just keep camping the way you have been

then you know a1 after you graduate is getting you know the jobs that you say that you're going to get and then after that you know do A1 after you graduate is getting, you know, the jobs that you say that you're going to get. And then after that, you know, do you guys have any money saved? Not yet. It'll be around $10,000 after the wedding is all said and done for. Good. That's more than I thought you would have. Yeah, that's good. Yeah, I think you're doing great.

Yeah, me too. Yeah, just get, you know, but't don't line up something to do until the money's there to do it so i would i would move out of that in may after you get your good jobs and rent something else a little nicer and now let's set up house let's get some dishes all that kind of stuff from may forward for one year during that one year i'd save like crazy to start talking about buying my house and have your down have a down payment plus an emergency fund and debt free learning to live together learning to live on a budget but wait a year after marriage to buy a house because it takes a little while

to know which house to buy you got to get to know each other and it's different uh being married than it is not being married and so that's going to change the decision making process in the in the house you buy the joke we always use is it takes a year of marriage to know how close to your mother-in-law to buy right but the uh but but what amounts to is you need to get to know each other and um it's okay to go a little bit slow on the home purchase thing but the rest of it if you're going to move up in car or whatever pay cash for it and every time you spend a dime on something more than your emergency fund after may you're going to be spending some of your down payment money so you're going to delay the purchase on the home but that's okay if it takes you a

little while it's okay you're just getting out of college you got time you got all kinds of time and you guys are going to be doing really well you're going to be making north of 100 grand between the two of you and um you know this time next year one year from today life're going to be making north of 100 grand between the two of you and um you know this time next year one year from today life's going to look really different in in a lot of good ways a lot of fun ways and uh so congratulations very wise and how you've approached they've done a lot of things right that's very good you need to go through financial peace university as our guest we're going to give that to you as an engagement present and you guys can go through and start talking about a lot of these things now. We'll teach you everything about that. You

should have been taught about money before we let you out in the world. And we'll show you exactly how to do that. I'm going to pay for it. It'll be our gift to you. So thanks. Thanks again for joining us and congratulations. Hang on. Austin will pick up and get you signed up for Financial Peace University. That's good. Man, don't you wish everybody, I wish I had started with that. I know. I know. The fact that he's calling and wanting to be ahead, and I'm like, you're already ahead. The fact that you don't have student loans and debt, you're already so far ahead.

Yeah, good things for them. The up and up. Yep, yep, yep, yep. Wow, very cool stuff. Hey, thanks for joining us america you got questions about your life and your money that's what we're here for open phones at 888-825-5225 this is the ramsey personality is my co-host today open phones at 888-825-5225 well jade if you go on vacation for three weeks stuff happens while you're gone yeah a lot happened while you were gone so first thing happens supreme court rules and says um president joe biden does not

have the power to forgive student loans. That's right. Second thing that happens is Joe Biden came out with an announcement that they were forgiving a bunch of student loans, which was actually a complete falsehood because the student loan process already involved forgiveness for people that did the PLC public service process. And it was 10 years and now it's going to be 25 years. And you just went on a rant last week about that, which has now got over 300,000 views on that rant.

It's not the same forgiveness, guys. It's not. It's not student loan forgiveness at all. No, it was. By the way, of the people that signed up for that when it was a 10-year program that are now coming up on 10 years, almost no one has gotten less than 5% of the people who have actually gotten the forgiveness. So one more time, the government lied to you. Whether they're Republicans or whether they're Democrats, it doesn't matter.

You can tell they're lying about the student loan issue if their mouth is moving. That's right. And then this comes out today. And this one is not as maddening from the Daily Wire as it is sad. Well, this is sad because this is about you, the people. A third of student loan debt holders spent the extra money that they thought would be wiped clean. So we know, I'll just read this, the poll by Intelligent.com surveyed 977 people who would have qualified for at least ten thousand dollars of relief under Biden's plan. Now, we know that was struck down, but, you know, we've all talked about this.

So many people thought, oh, I'm going to get this forgiveness, Dave, or people whose loans were paid off. They got that refund back of ten thousand dollars and they thought and they didn't they didn't get it. They spent the money and now they're in debt again they're in debt again they were out of debt let's put them back in debt that's right and uh this this this came through and i thought you know this is it because a while back i was on here ranting saying you guys were spending this money on hamburgers and it looks like i'm a little bit right it says of those one in three people said they spent the extra money because they were assuming forgiveness and many of them spit the

money on things like vacations real retail items alcohol drugs and gambling sounds responsible to me i would have been happier with the hamburger. Alcohol, drugs, and gambling? Okay, we need Dr. John Deloney in here, but this is unbelievable. It's very believable. I mean, over half of borrowers now say they don't feel prepared once student loan repayment starts back up in October, with 35% saying they're very unprepared. Well, I mean. We got a little time. Let's prepared let's get prepared let's get prepared guys apparently gambling drugs alcohol retail and vacations are not getting prepared no that who knew that's unprepared who knew that that was not going to cause wealth building?

Yeah, you're going to have to cut back on the alcohol budget and the gambling budget and the Lululemon budget and the Sandals vacation all-inclusive budget. The Supreme Court decision is a cold shower for those who had their hopes pinned on a $10,000 relief. James Allen, who founded personal finance website Bullpen, said it's like waiting for a tax refund only to find out the IRS made a mistake. Is it?

Is it, though? No, it's not. Because you never should have been waiting on it. We told you not to wait on it. We told you. We told you to use the time and get the stupid loans paid off. But we're here now. We're here now.

So now you can get prepared since you feel unprepared. And the way you get prepared is you start living on less than you make and you quit waiting on anyone with a zip code anywhere near Washington, D.C. to fix your life. That's right. And even a more practical tip, you guys really need to don't bury your head in the sand on this. You need to go online, look at your service provider. Because the fact is, Dave, a lot of the people, a lot of

the servicers that were servicing the loans pre-COVID are no longer, they've been sold off to somebody else. So if you've been getting those emails and you've been ignoring those, now's the time to stop ignoring the emails and really get organized find out where your loan is or your loans are find out how much what the full balance is find out do not bury your head in the sand find out what the payment's going to be all right you need to know this information and then you need to start looking at here's dave this is the drum i want to beat do not i repeat do not because some of you that were in income driven repayment plans prior to they're just automatically enrolling you in yet another income driven repayment plan right and you can go on there yourself and estimate your income and say this is what i make this is what

i want my payment to be if you get an income repayment plan you're going to be in debt the rest of your life the rest of your life and that's what that what mathematically that's the case it's not a philosophical statement it's not a political statement it's just a math thing that what you guys heard us rant about last week about biden forgiveness that was people guys that were in those income driven repayment plans they had been paying 25 and 30 years yeah is that what you really know is that work worth it to wait around listen this is taking the student loan business and applying the rules of the dmv to it that's right this is stupid government socialist behavior yeah that's who's working there and it's just it's ridiculous and it's a disaster if you lean on this for your future.

So your future, you want to get your student loans, get rid of your student loans? Here's how you do it. What we call big math. Big math works somewhere around the fourth grade. So you owe $10,000, okay? That's $833 a month, or if you want to do it in one year, okay? Or it's $1,666 a month if you want to do it in one year. Okay? Or it's $1,666 a month if you want to do it in six months.

Okay? It's $1,000 a month if you want to do it in 10 months. It's $5,000 a month if you want to do it in two months. So take your student loan and divide it by how long you want to be a slave, how many months, and that tells you what you've got to go make and get up off your freaking couch go leave the cave kill something and drag it home and get this dadgum

thing out of your life this crap owns your life and they're sitting up there in washington playing tiddlywinks with your dadgum life and you gave them permission yeah because you leaned on something that didn't need to be leaned on that wasn't worthy of being leaned on called politics. And you're kidding yourself if you think that they're for you. You're going to get hammered, and you're going to look up 10 years from now. And let me tell you, any financial situation that you have ignored has a high rate of resurrection, as my friend Les Parrott says. That's right. Okay?

You try to bury this stuff it comes back with a zombie vengeance like six more zombies than you had when you buried the first one yeah it's going to come back and it comes back with a vengeance so it comes back with extra fees extra gotchas lawyer fees and all of a sudden they show up at your work and garnish you your dadgum wages so and they have unlimited power to do this stuff. That's right. That's right. So you do not want to screw around with this.

Take the dollars that you owe today and divide it by the number of months you want to be in pain. And then go get your pain over with. That's right. Get it done. Get it behind you. Rip the Band-Aid off. Sell so much stuff the kids think they're next yeah hello i mean in this world you can make some money right now there's a lot of

people paying a lot of money for people to do no brain work look dave with the internet the way that it is you could do you can do so much there's so many ways to make money please do not let these companies the government fool you into thinking a lower payment is better. Half of those. In the old Westerns, the Indians were attacking the pioneers. The pioneers were circling the wagons. And then you'd hear this bugle sound. And here comes the Calvary.

To save them, right? So what Jade and I are trying to tell you is the Calvary ain't coming. You're it. You're it. Look in the mirror. You are your financial salvation. You and God get a hold of his hands, jump up, get your butt in gear, and get to work and clean this up.

Take the amount of student loan debt that you have, the dollar amount, and divide it by the number of months you want to be in pain, and then go find that much money in your budget or with extra income and get it out of your life. You don't have to do the interest rate division. You don't have to do, I want to be in debt the rest of my dadgum life. I'm going to be on income repayment. That's dumber than a rock.

That tells me, I don't know how you got out of sixth grade running that kind of math. That's dumb. It's just dumb. Don't be dumb. Dumb will make you broke. This is The Ramsey Show. Hey, you guys. Health insurance costs are only moving one way, and that way isn't down. And if higher

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and for them when they experience a medical event. So listen, y'all, there's no better way to take care of healthcare costs. CHM programs start as low as $98 a month. So learn more today and join at chministries.org slash budget at chministries.org slash budget. Thank you for joining us, America. Jade Walsh, our Ramsey personality, is my co-host. Zadie's with us in Denver. Hi, Zadie. How are you? I'm great. How are you guys? Better than I deserve. What's up?

Well, thank you so much for taking my call. I'm calling because my husband and I have been following your baby steps since we got married three years ago, and we paid off our student debt in 2020. Yay! You know what she said about the student loans. Hopefully we're not part of that sucker group. But anyway, so thankfully he's getting a master's now, and we are paying cash for that.

But my question is actually related to buying a home. So he has about a year and a half left. We're paying cash for that master's, and we are trying so hard to save up money to buy a home here in Denver. Ooh, expensive market. Yes, exactly. So what I want to talk to you guys about is we're trying to maintain some sanity here while saving up a lot of money for a down payment. I'm hoping to save up about $200,000 for most homes that are, you know, modest homes, about half a million dollars. So we're trying our best to do that,

but it's looking like it's going to take three to five years, which I'm thinking means that we have to be gazelle intense. But I'm kind of wondering if you guys have any insight for that. Cause again, we're trying to maintain our sanity here. So his master's is in what? He's getting a master's in marriage and family counseling. Okay, and what's he do for a living now? What he does, he works part-time for an extension of a foster system.

He helps kids and families. So when he's a licensed therapist, what will be the change in your all's income? Did you calculate that as part of the equation you gave us? Yeah, I did. So part of it is now that I'm new to the Denver area, I can be a travel nurse here because I'm a nurse, and I can make very good money doing that. Last year I made $200,000 as a travel nurse. This year I'm making less just because contracts are not as good.

I'm making close to like $120,000, $140,000. Eventually the travel nurse contracts will go away altogether when we live here permanently. So I'll make about probably $80,000 to $100,000 at that point, and he'll probably make about $75,000. So actually, the thing is our income won't change a whole lot because my income is going to go down so dramatically. That's fair. Okay, good.

You figured this out. You're ahead of me. Well done. All right, so what you're saying is you might not put down as big a down payment on this first house, but you're still going to be making $175,000, and you're still going to go in and knock it out as fast as you can. So if you don't put down $200,000, you put down $100,000. That's not the end of the world, right? Yeah, and I actually have $100,000 saved. Oh, that's great. Yeah, but kind of the issue we're seeing is, just with the way our budget is and how much his master's degree is costing,

we're struggling to save, you know, $2,000 to $5,000. Yeah, but that's not a permanent situation. That's just until he completes the master's. I see. So you guys, yeah, I probably just need to be more patient, but maybe you guys can tell. When's he finished? You're wanting to buy now while he's in the master's program? So you guys, yeah, I probably just need to be more patient, but maybe you guys can tell. But I'm the first one. You're wanting to buy now while he's in the master's program? No, I'd like to buy in maybe 12 months to 24 months.

And will he be out by then? He will, barely. Okay. Is he going to go into private practice, or is he going to join a practice, or what's his plan? Yeah, that's a good question. So he'll have to be an apprentice, and the great news is he has a great um kind of clinical site set up as a student and hopefully they'll hire him on once he has his degree and um he has to charge less because he needs supervised hours for the first two years he has his license oh so it's not gonna it's not gonna kick in immediately

okay yeah i would not i i would be careful because i would not buy something based on a projected future income correct you know what i'm saying because that's going to put a lot of pressure on him that could be months yeah we don't need the therapist yeah that could be months and years where the payment feels you know too tight for you guys so it almost works hand in hand if you're saying hey this could take three to five years to save what we want and what you want to put down that could work well with the you know his career and you guys finally seeing where you're going to actually be in three years time so Zadie here's the overall thing you have done a better job analyzing this than we have

in the last five minutes because you spent a lot more than five minutes on it. And you are really doing a really good job thinking about this. And actually, I think your numbers are fairly accurate because I didn't have the two-year. I was anticipating his income jumping faster. I didn't have the two-year internship built in. I didn't see your travel nurse stuff coming down. You're seeing all that. You've done a good job with your critical thinking skills on building out your model okay

it's just frustrating you that you don't like the answer your model is giving you that's right okay all right and that i can't help you with that it's time and so you know that that's going to require one of two things one is you don't put down as much of a down payment and you buy sooner or two back to your earlier comment you have some patience so you can put down as much of a down payment and you buy sooner or two. Back to your earlier comment, you have some patience so you can put down more. Neither plan that you've told me is in the stupid column, though. You're not going to land in the stupid column because you're putting too much good logical thought to this. You're doing a really good job with this. Yeah.

And I just want to pick your – oh, I'm sorry. That's okay i would just say to you and your husband that the two of you sitting down talking about this the way you have been analyzing it up to this point i would trust yourself you you i would trust you to make the decision you're making really good process here you know what i'm saying so i i and and once you can trust yourself a little bit then you go okay this is what we're going to do and put down a little less and we're going to purchase a little sooner or we're going to have some patience and then own that decision and rest in it and quit fretting over it okay I'm going to

pick your brain about something really brief I know we have limited time so kind of the issue he he thinks that i'm being paranoid about how much we need to save which is understandable i feel we need to make our mortgage as low as possible just given i don't trust anything about the climate of what's been happening in the world i think that's awesome you might be borderline paranoid but you're at least driven to good decisions i like it okay hey listen one of the benefits of being debt-free is i mean you've been travel nursing and covet for god's sakes okay one of the benefits of being debt-free is when something like a stupid and weird like a

pandemic or worse than that a quarantine from a pandemic occurs um maybe not worse than that but as bad as that for other people is um the quarantine and we don't know you know all that uncertainty it melts away when you don't have any debt and so i love your conclusion but you don't want to be driven to a neurosis over it i mean you want to have some peace about it that's why i said lay out your plan live live your plan, and just rest in your plan because you are the kind of people that are going to put together a good plan. Okay? So that's what I mean by trusting that.

And that'll, you know, if he senses you relaxing, then the word paranoia can come off of the table. It's not real paranoia, but he's afraid you're over worrying yeah yeah no he he's he he knows me well and he has good insight there yeah yeah so and i think you probably are you're a planner but you sometimes those of us that are planners are also fretters we fret yep worry pace back and forth when's the dadgum plan going to happen? And I don't know anybody like that. I just have to look at him in the mirror every morning.

So, yeah, I mean, nothing happens fast enough to suit Dave. But I'm the guy that thinks microwaves are slow. So what are you waiting on? I want my burrito. Sometimes that minute, it takes forever. Watching water boil, boil right it won't boil while you watch yeah so yeah that's but uh guys do what you know be zady yeah right you know plan plan lay it you know look at the variables what she's doing is what jim collins talks about in business he talks about face the last 10% of truth.

And the last 10% of truth is I'm not, there's no fairy tale involved. Prince Charming, the Wicked Witch, they aren't there. This is just a thing. It's a thing. It's a math thing. And we're just going to lay it out and we're going to walk through it. And that last 10% of truth then rests in it once you've addressed it. Yeah. And because all you can do, I used to work for a guy who he said all you can do is all you can do and that's enough that's right well

that it's true all you can do so it might as well be enough that's where it ends good job sadie good job we're honored to have you in our listening audience thank you this is the Ramsey Show. Our scripture of the day, 1 Corinthians 15, 57. But thanks be to God, he gives us the victory through our Lord Jesus Christ. Winston Churchill said, difficulties mastered are opportunities won. Yeah, that's how you build a callus. That's right. with us john is in raleigh north carolina hey john welcome to the ramsey show yes sir mr ramsey it's a pleasure to speak with you you too sir how can we help so mr ramsey i bought a home about three months ago and i bought it $50,000 less than it's worth.

But I bought it at auction, and it was my first home that I ever purchased. And I've come to realize why it sold so cheap was that it has major septic issues. And so I've had some professionals over the last month come out and give me some quotes on what it would cost to get the work done. And it's looking around the $25,000 range. I've got about $10,000 in the bank, and I'm kind of pulling my hair out as to what to do. So it's not functioning at all? No, sir. So you can't live in the house So you can't live in the house?

You can't live in the house? I have maybe another month I can live in the house, and then it's going to be over with. Okay. How many different people in that world have you had to look at this? It's been three so far, and on the cheap side, it's been around the $25,000 mark. Okay. Do you know what's wrong with it? Yes, yes, we know exactly what's wrong with it.

What's wrong with it? The entire field needs to be replaced. It's an older house, about 60 years old, and it has all the original pipes and everything. what's wrong with it. What's wrong with it? The entire field needs to be replaced. It's an older house, about 60 years old, and it has all the original pipes and everything. It's all cast iron, and they basically all collapsed. Yeah, okay. Yeah. Well, I've done real estate rehabs for just about my whole adult life. That's why I was asking, because I've made these similar mistakes.

So, I'm sorry. I'm afraid you've gotten an accurate bid. What do make for a living how much money do you make about 50 000 a year good lord yikes and i'm a huge fan of yours i have no debt you know i've been a follower for years all right start talking to the 25 000 guy and ask him how functional we can get this for the first 10 because you don't have 25. See if you can get it functional. Get one field line operating. Because you don't have the health department shutting you down. You just got practicality shutting you down because your backyard is getting ready to be stinking.

Yes, sir. Yeah, within about a month, no water will be able to leave the house yeah so you got to get at least one fill line open and you probably do that for 10 grand there's usually three or four fill lines i don't know how big this property is but i'm guessing there is and then they they generally head towards a tank you pump the tank i assume right yes sir okay and so that's not helping at all because the water's not getting there because of the collapsed lines, right? Right.

Well, the tank's filling back up. Wait a minute, the tank's filling back up because the lines leaving the tank are what's not working, right? Yes, sir. I can get it pumped, which costs about $600, and after it's pumped, I have about three weeks or two weeks before it's filled back up. Yeah.

So I'm going to keep pumping it until i can get the enough fill lines in that i don't have to pump it anymore and you may have to do one fill line at a time you got ten thousand dollars worth see if you can't get two in see if the guy tell the guy what you're up against say i don't have any money and i can't borrow money and i don't make $500,000. And so, you know, help me, man, and help me figure out how we can do this in phases and at least get it semi-operational. That's what I would do if I woke up in your shoes. I've done stuff like that. I mean, we had a roof leaking when Sharon and I went broke and went into bankruptcy, and I wasn't borrowing money anymore, and I would have had to borrow $6,000 to put a roof on,

and I went and got some of that tar stuff and spread it on the roof. It looked awful, but it quit leaking until I could save up to $6,000. Now, you might be a redneck if, right, John? But, you know, you might be a redneck if you're pumping your septic tank every three weeks, but, hey hey we're saving up our money and then i'm if and then if i'm you i'm picking up extra jobs and working like crazy because i got to buy some fill lines yes sir because you can't sell the house yeah you can't sell it right and that's been my problem i would love to just sell and get out from under it but now i would get way less than that's right yeah you'll get wet less than you paid for it you thought you got it at a deal

because you can't get a health letter and nobody can get a mortgage without a health letter right yes sir and so you know if they want to get a standard mortgage any kind of standard conforming mortgage they're going to they're going to require health department letter saying it's functional on a septic system so yeah you got to fix it so that's what i'm gonna do i'm gonna work like a crazy man you got anything you can sell um a couple things yes sir i've sold a couple things i've cut the tv out and all kinds of good stuff trying to save money i mean you don't have you don't have a ten thousand dollar boat sitting in the backyard no sir i have zero debt i have a 25 year old truck that i'm still puttering along in i really

don't have anything worth a lot okay but you pay cash for the house no sir the house is the only thing that i only debt that i had how'd you get the loan um i got the loan it was uh it was at auction and so um i was able to work with a small mortgage company to get the loan. It did not require inspection because it was at auction. Yeah, and they're charging you an interest rate in excess of 7%. Yes, sir, 6.99. What? 6.99, yes, sir.

Oh, it is 7. Okay, that's not bad. I'm surprised. Okay. I thought you were getting gigged. I figured they had you at 12. Okay, good, sir. Oh, it is 7. Okay, that's not bad. I'm surprised. Okay. I thought you were getting gigged. I figured they had you at 12. Okay. Good.

That's good news. All right, John, this is going to be tough. Just roll up your sleeve. So call the guy. You may have to go with the guy that's a little bit more expensive but can give you a phased program. And we'll put in how many fill lines we got to do. Are they saying three?

What are they saying? I think it's supposed to have four on it. Okay, and none of them are functioning. None. It's all either the cast iron or it's the old terracotta. Yeah, you may have to do one at a time or you may have to do two at a time and get somebody to work with you on that. And have you got a buddy that's got a backhoe

oh yeah yeah absolutely well maybe you can get him to uh get the septic guy to let you do the digging and you you know have your buddy for a six pack of beer dig the holes uh clean the lines out and then the septic guy comes in and that saves you that much money that's a good buddy that's a great idea yeah that might save you five grand right there and just tell the septic guy comes in, and that saves you that much money. That's a good buddy. That's a great idea. Yeah, that might save you $5,000 right there. And just tell the septic guy, you know, this guy, he needs to help you out, and then you're going to tell everybody that you know that ever needs any help in that world that he's the guy because he took care of you, you know?

Yeah, give him as much advertising as he can take. Absolutely. It would be good business for him. And, yeah, partner up with your backhoe buddy, and let's see if we can't get a couple of these done for $10,000, get it functioning, and then add the other two to get the luxury part of it working. But, yeah, it's a thing. It's a thing.

We were building an event barn, and we got into solid freaking rock on stinking septic, and I've got so much money in that. We just chiseled on rock for days. It went on for days. It was awful. That is awful. Horrible thing.

But, yeah, that's, yeah, note to self. This is what happens when people talk about, I'm going to buy foreclosures. I saw it on TikTok. Yes. And when you buy a foreclosure at the courthouse steps you know what you bought as is where you don't know what it is you might not have even been inside the house and you go in there and find out there are no pipes because they used to be copper and the guys in the neighborhood thought the copper belonged to them

and they took the copper down to the supply place i mean down to the uh salvage place and got some copper prices for it and now you got no plumbing in the entire house i did that i did that i did that my house had no plumbing and you didn't know the copper pipes were gone i knew it i knew it okay i i broke into the house i'll admit it before the four before the bidding so i bought it based on the fact they had no plumbing. But the other guy bidding against me did not know that and started running the bid up. And I told him, I said, you know, it's got no pipes. He said, what do you mean? I said, you haven't been in the house? He said, no. I said, there's no plumbing. It's all gone. He quit bidding and I won the bid.

That's a crappy problem to have, Dave. Yeah. I mean, you start buying these auctions, it's bad. Oh, man. Get yourself in trouble. Jade Walsh, y'ctions, it's bad. Oh, man. Get yourself in trouble. Jade Walsh, all good show today. Well done, Austin, Ben, James, Zach, and Andrew, the booth dudes in the booth making this show happen. I'm Dave Ramsey, your host. We'll be back with you before you know it. In the meantime, remember, there's ultimately only one way to financial peace,

and that's to walk daily with the Prince of Peace, Christ Jesus. Hey, what's up, guys? It's Jade. Look, if you like what you heard in this episode and want to know more about getting started on the Ramsey Baby Steps, go to ramsesolutions.com and click the Get Started button. We'll help you figure out the best next step for you based on your specific situation. That's ramseysolutions.com and click Get Started.