The Ramsey Show - App - Sell My $18K Shoe Collection to Pay Off Debt?

Episode Date: March 28, 2022

Ken Coleman & George Kamel discuss: Selling an $18k shoe collection to pay off debt, What to do when your boss doesn't like you, Refinancing a Parent PLUS loan, Reinvesting business profits. 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

I'm out. Live from the headquarters of Ramsey Solutions, this is The Ramsey Show. It's where we help you live your best life by being healthy, relationally successful, professionally, and peaceful financially. I'm Ken Coleman, joined by my colleague, George Gamble. The phone number for you to jump in is 888-825-5225. That's 888-825-5225. It's toll free. Let's go. George and I are here for you.

We're going to be real nice to you, I promise. And we're going to help you out, come up with some clear steps forward, whether you've got a work issue or you want to make more money or you're in a toxic environment with a boss or maybe a teammate or you're just in a financial mess. We're going to help you out today, and we'd love to talk to you. Let's go to Los Angeles, California, the City of Angels. Teresa is on the line.

Teresa, how can we help? Hi, Ken. How are you? I'm living the dream, Teresa. What are you doing? So I used your principles, and I went from having no job to having a job serving. And in the four months that I did, my work environment was so toxic, I put in my notice. So my general manager finds out and says, don't go. Let's put you somewhere else. Let's find a place for you. You're a great worker. Don't go. So he puts me in the office of the restaurant instead, so I'm on the back end of things. So I'm really happy and excited. And my first day was a few weeks ago and I work with my direct supervisor and she's very unhappy with me. She's upset and said I was a red flag because I quit and I couldn't hack it.

And what do I need to do to. And so in this time frame, it's been a few weeks now. I'm not really doing much. She already won't mentor me and won't train me to help really and assist her. And I know I could do it, but she doesn't like me, I guess, and said I was a red flag. And I want to know how I can get her, not to, I guess, like me, but I guess trust me or I don't know. All right, so here's what i need to know you were placed in this position by somebody that i'm if i'm understanding the situation properly the

outranks her correct yes yes who is that person is that the general manager the overall like explain to me that relationship he's the general manager and she's like one or two down from him all right and so he put you there because he didn't want you to leave the company he really values you correct correct does he know about how you're being treated no i don't want to say i almost talked to him but i i don't want to do that again because i feel like i need to like earn street cred with her. Not true. She's not giving you the opportunity to earn anything. From day one, it sounds like to me, you can tell me if I'm wrong, but it sounds like to me from day one, she looked at you as somebody she had to deal with. And that's why she was calling you the red flag because you quit your

other position. You can't hack it. She just doesn't like you for a variety of reasons, but it's all on her side. If she's treating you that way from day one, it's not like you did anything wrong. Am I right or am I wrong? No, you're right. There's always something.

Like, we get along, but I always felt there was a wall up with me. I don't know. I mean, she's a lot younger than me, too. So I don't know. Yeah,, she's a lot younger than me too. So I don't know. Yeah. Yes. Is she newer? No, she's been there eight years. Does she see you as a threat? Maybe, maybe because I did say like, look, I don't want your job. I just want to help. I want to do this. And when I did say that, it got better. Well, you know, it's interesting. You said you, I'm a little confused. I need you to clarify this.

You said you get along with her. But it didn't sound like, well, that's not what I heard in the first two minutes. I get along with anyone. If someone gets along with me, it means they like me and I like them. Yeah, but in this case, Teresa gets along with anybody. So meaning you managed to make it livable. Yes. Yeah, yes. You all don't livable. Yes. Yeah, yes.

You all don't get along. It's not terrible. Yeah, I guess. Yeah, it's like awkward silences, I guess, which I hate. But yes. Okay, so here's the deal. You called me and you said, Ken, George, what do I do?

All right? Correct. And I'm going to tell you. You either be a big girl and go talk to this general manager who values you and put you in this situation to win. And you go, here's what's going on. I'm just letting you know.

I'm not trying to gripe. You put me here. You talked me into staying. She's not even using me. And it was from day one. There's something there. And I need you to help me navigate it. Or this just isn't a fit.

You have nothing to lose you were already on your way out the door once what are you worried about you either do that or you just go ahead and say you know what this isn't the place for me because absent of leadership this gal's not going to change that's what i know okay you agree or disagree what's your gut no well she is leaving for a promotion in like a few in seven months so that's why i thought like if i just stick it out and maybe towards the end she would see that i stayed well you didn't tell me that so here's the deal no no i'm glad i'm having fun with you here's the deal. No, no, I'm glad. I'm having fun with you. Here's the deal.

Can you stick it out? Can you put up with this relationship? Let's call it what it is. It's a work relationship. Can you put up with it the way it is right now and you basically sitting around twiddling your thumbs, not because of you but because of her, can you put up with that for seven more months? Yes. All right then.

What do you want to do? I want to prove myself and I want to move up. I want to move up in the company. I'm excited and so proud of myself that I went from just in four months. So I'm like this momentum I have, I'm like, I want to show that I can do it, that I could be a great assistant and help. And I appreciate that. But you are telling me that she's not allowing you to assist or help. That's what you told me. Yes. I was hoping you'd say like, do this and then this. Well, we don't do that. We don't just tell you. George can tell you what to do with the baby steps and money. But in a situation like this, I could tell you what I would do. And I already told you that I would sit down with the gm and go this is okay unsustainable okay that's what i would do i

would talk with the gm um and say well you know what i take that back george knows it's about me first thing i do i sit down with this girl and go what's going on to have an honest conversation have an honest conversation that doesn't put her on the defensive. It just says, look, here's what I'm feeling. Do you feel comfortable to have that conversation with her and say, hey, listen, I enjoy working with you. We're a team. I want us to both win. And I feel like there's like this weird tension.

Am I wrong? And just see what she says. Yeah. Okay. Yes, I do. I feel comfortable. I do, absolutely. Well, start with her. If she can't have that conversation, then you go, all right, well, hey, I'm going up. Let's go meet with our general manager. I just want to sort this

out so we can be productive so that we can get the job done. And if you don't want to do those two things, you can stick it out. I don't think it's going to be great for your mental and emotional wellness, to be completely honest with you, but I also think you could do it. I think you can bite the stick for seven months. She clears out. I don't know if that's going to open up the opportunity for you to step into her role or not. But again, you do what your heart's telling you to do here. And I admire your willingness to stick it out for seven months. I don't know that I'd do that, but if I felt like that was the best opportunity, you can guarantee I would do that, George. Yeah. I'd suffer. I'll suffer for seven months for a great opportunity. Absolutely. You've suffered with me just co-hosting the show.

I didn't want to say that. But now that it's out in the open, folks, there's a reason why George and I suffer each other. No, George is the best, an absolute pro. I appreciate that. Yeah, hey, thank you for the call, Teresa. It's your call, your decision. But you've got to live with the decision that you make. All right, coming up next, more decisions, more calls,

more breakthrough. This is The Ramsey Show. In an uncertain world, being a good steward of your money is more important than ever. While some circumstances can't be controlled, there are items within your budget you can take charge of, such as your health care costs. For nearly 40 years, Christian Health Care Ministries, or CHM, has provided a budget-friendly means of sharing for medical bills when our members need it. Learn more by visiting chministries.org slash budget. That's chministries.org slash budget. Christian Healthcare Ministries is a Ramsey Show continues. Thrilled to have you with us.

I'm Ken Coleman, and I'm joined here in studio by my colleague, George Camel, spelled with a K, by the way. Thank you for that, Ken. No one gets it. Yeah, you know, it occurs to me that I ought to at least tell some folks every once in a while, it's with a K. Because they're searching you with a C. Millions of people a day on the Googles looking up George Camel with a K. Because they're searching you with a C. Millions of people a day on the Googles

looking up George Camel with a C and they're getting it wrong. They can't find you. Thank you for that. I like that. I also like the fact that you said the Google because I say that to my three teenage kids and it irritates them to no end.

They must roll their eyes a full 360 when you do that. That, I say the talk instead of TikTok. That one bothers me personally. I say the gram. But John Deloney says the internets, which is the most egregious of them all. Is it? Yeah.

Yeah. I remember for a while there was a thing called the interweb, which was kind of like an internet, worldwide web, the interweb. They were different things? No, just that stupid term. Just a mashup. Anyway, we digress. 888-825-5225.

888-825-5225 888-825-5225 detroit michigan the motor city is where eric joins us next eric how can we help hey guys thanks for taking my call today i have a question about refinancing a student loan um i just recently in the last week refinanced a student loan from my undergraduate and my graduate school for $146,000. And I got a rate of 2.1% locked in for a 10-year term by paying that a lot faster. When I first started my undergraduate, I was 17 years old and my parents had to take out a Parent PLUS loan. And I've been paying on that and it was always understood that I would pay for that. And the current amount on that loan is $18,000. And the APR is 7%. And right now it's 0% because of the pause.

But the 7% on the $18,000 is in my mom's name. And my mom doesn't have great credit. I've looked at trying to refinance it for her before, but she was never approved for a refinance with her credit. And so on the website that I had used to refinance my student loan, there was a way to bring over that loan if I was going to refinance it from the Parent Plus. And I just wondered what you guys' thoughts were on me doing that. Is this a federal loan or a private loan, the Parent Plus, and I just wondered what you guys' thoughts were on me doing that. Is this a federal loan or a private loan, the Parent Plus?

It's a federal loan, I believe, because it's at 0%, but it is through a private vendor. I just know that currently it's at 0%. Okay, because if it's a government loan, they don't allow you to simply transfer it. You can do that through a private lender if you would qualify for that. What I would do, the only way I want you refinancing, obviously this is a crazy high interest rate. Have you tried going through our friends at Splash Financial to see what their rate would be in their terms? No. No, I went through Laurel Road for my original refinance just because they had the best rates. But I've not checked any. Yeah, give Splash Financial a shot. Here's the parameters, though. No matter who you go with, it should be completely free to refinance. There should be no fees. You should only go with a fixed interest rate. And I want you to have a shorter loan

repayment because a lot of times they'll extend the payment and make you feel like you won. And then lastly, make sure it's a lower interest rate. And so if you can do all of those things, then I call that a win. But at the end of the day, I want you to pay this thing off as fast as possible and spend less time playing the interest rate game trying to get them lower. I do think it'll help because 7% on $18,000, that'll grow pretty fast. So check out our friends at Splash Financial and see if they can get you the right terms, the right rate.

And if so, I would do that and move it into your name. But your parents took this out. That was the decision they made. And so they're on the hook. And so parents, remember, that's a scary situation to be in. Do not take out a Parent PLUS loan. The terms are terrible. The interest rates are crazy high.

And you put both you and your kids in a real financial predicament. Yeah, and there's so many other great options. You don't have to feel this pressure, parents, to make a really bad financial decision for your kid's future. It breaks my heart to see so many people burdened down with crazy debt that's impacting their entire life in a negative way, all from a good intention. And parents then can't accomplish their own financial goals because they have a Parent

Plus loan hanging around their neck for a junior who didn't even finish college. Yeah. That's a scary spot to be in. It is. All right. Michelle's up next in San Antonio, Texas. Michelle, how can we help? Hi.

Thank you so much for taking this call. I appreciate it. Sure. My husband and I have recently, um, actually it's my husband's business. He sold a business, um,

that he's been investing in and working in for probably the last 20, 30 years. He got $3 million and, um, we want to know, um, what the best, um,

how to best invest this money. We do have debt um we have a house and we have cars um that probably total tall about i would say six hundred thousand dollars in debt so we do plan on paying that off first um our house is worth probably a million right now. We owe like $485,000 on it, but we're probably going to stay in it for a while. So our first thought is, of course, real estate, buying a property near the beach somewhere in Texas and putting in a rental pool and taking some rental income from that. But other than that, we really don't have an idea of what to do. Well, this is a good problem to have. Congratulations, first of all, on the sale of the business. So exciting. So how old are you two? We are 51. Okay. Very young,

by the way. Very young. That's great. Have you guys thought about, you're both still working, or what's going on now that you sold the business? Well, my husband is not going to be able to work in that business for a year and a half. It's going to non-compete, but that's fine. I am a social worker. I make about $65,000 a year, which is not a whole lot. That's pretty good for a social worker. Yeah, he wants to do maybe buy properties, fix them up and sell them. He's always built our homes that we've made money off of in the past several years. And so he's very handy.

He can do anything as far as remodeling and things like that. So he's thought about doing that for a couple of years before he can go back into. So he does want to get back into his original business? He does in one way, shape, or form, yes. That's great. Well, I'm just, I'm prying to figure out what financially is the best move for you guys. Obviously, real estate is a fantastic investment and he's got the know-how to do that. So I would make that part of your portfolio. Obviously, at your age, you can do some catch-up contributions and go hog wild in your

retirement investing if you've got those options available and then beyond that if you don't have any tax advantage retirement accounts aside from real estate you could just put it in a taxable a taxable brokerage account and have some of that money grow for you as well and dave does that he parks in index funds and once the money grows and he wants to buy a piece of property, he just takes the money out and pays long-term capital gains on that and buy some real estate. And that can grow at market rate. You know, obviously right now the market's not great, but, you know, 10%, 12% have that money grow for you instead of sitting cash in an account would be your best bet. Yeah.

And, Michelle, has your husband done any kind of restoration work before other than piddling around the house? He's built the last three of our homes this is an impressive man whoa let me step back a little bit i thought you know i said yeah okay i'm working full-time yeah yeah that's impressive ken and i can barely build an ikea bookshelf together i can't build anything i can put the gas in the car i'm limited beyond that a little bit of air in the tires as well here's here's what i was going to say george is right gave you sound advice there i i was just going to say that you know now he's retired and i would just be very careful with you know too much of the restoration investing you know what i mean because while he's obviously built a home three homes and he knows what he's

doing i'd ease into that a little bit. And I'd really go with George's other strategies first, kind of ease our way into that because, you know, that restoration business might be a good one just to get into. If he just does part-time where he's doing kitchens here, bathrooms there, he's getting excited, you know, he's kind of, he's got a little time to fish or play golf or whatever else. So that was the only caution I had. But clearly he knows what he's doing with the hammer and the nails and all that, George. Have you ever hammered a nail, George, for real? I've done it.

I've hung a picture or two in my day. That's about it, Ken. I love that you went to hang a picture. I like to support local handymen in my area and handywomen to do that kind of work. Well, it makes for a better life and a better marriage. Me and my wife literally ate a pint of ice cream watching a handyman install a floating shelf. And I went, this is worth 50 bucks an hour. Totally worth it.

Oh, I've got to know. Really quick. Were the feet up or were they just seated normally? Oh, we were full throttle, man. Full entertainment. Just watching them. You are pathetic, but I love you. Pathetic, but I love you.

You know, my wife said the same thing the other day. Exactly all right he's pathetic but he's smart and he can help you don't move more of your calls coming up next this is the ramsey show Welcome back, folks. The Ramsey Show continues. I'm Ken Coleman, joined by George Camel. We're here taking your calls, 888-825-5225. You got some relationship, money, or work issues? That's a big, broad invitation. Come on.

We're here to help you. Remember, we'll change your name, location, if that helps. If it's a sensitive topic, we want to get you a practical path forward for some breakthrough in your life. Let's get back to the phones. Portland, Maine is where Bryce joins us. Bryce, how can we help? Hey, Ken and George. I appreciate you guys taking my call. You bet.

What's up? So I bought a new car in July of 2021. Um, I'm 18 still living at home with my parents. Um, and I have around $20,000 left on that auto loan. My question is, I also do some reselling on the side with a sneaker. So I have around $18,000, uh, worth of collectible nike and jordan shoes hold on whoa whoa slow down i want to roll past that you got a real shoe guy uh on the line with you with me and the air jordans i mean are these vintage or are these like newer what explain this to me so i i don't have many vintage ones. I have more of the newer collaborations.

So the question was, do I sell them now and continue or pay it off in full? Or do I let them build in value and continue to make the regular payments? So are you collecting these or are you reselling? So I do a bit of both. So basically I'll try to get two or three pairs if I can, sell one, pay off the pair that I currently have so I can kind of keep one and sell one and make my money so I basically pay off the one that I'm holding on to.

Are you buying these shoes with cash? No, I use a credit card. Oh, he whispered it. Okay, Bryce. I like this kid. I think you're a real bright guy. He whispered it. You have an entrepreneurial spirit.

Clearly, you're really good at this. But this thing is going to bite you in the butt if you're not careful. Yeah, in fact, I got a question on that, George. Bryce, of the sneakers that you say are $18,000, are you carrying any debt on that $18,000 worth of sneakers? No debt. So right now you have $18,000 in value or liquid value of shoes, tennis shoes. Correct.

And you owe $20,000 on the car. Yes, I do. What kind of car owe $20,000 on the car. Yes, I do. What kind of car is it? It's a Honda Civic. Okay. I'm a Honda Civic guy. George, this is in your lane here. Alright, Bryce, here's two options. One, you sell your entire shoe collection.

That hurts, right? Yeah. Would you even be willing to do that? You called us asking, but are you willing to? Well, I would if I got,, I would if I heard the right... I need some opinions. Let me ask you an honest question. Why all of a sudden do you care about paying off debt?

I'm just set up... I don't really like to carry debt. I always pay my credit cards off early when I can. Um, I never make the minimum payment. I always pay them off in full. I just don't like that. So would you agree that becoming debt-free is the best thing you can do for Bryce right now at 18 years old? Yeah. Okay. Now, George, we're going to popcorn in and out here. I got to know, how much is the car worth, the Civic? It's newer in the condition it's in right now. Right now?

Did you mess it up? It's a 2021. You said you bought it in the summer of 2021. You've been drag racing or what? What's the deal? No, no, no. What is it worth today? I know.

I'm kidding. What is it worth today i know i'm kidding what is it worth today if you sold it today probably i locally i could probably get around 24 25 and dude you know what i'd sell i'm selling the car and driving a beater and keeping the shoe collection you're 18 you live with your parents that's george is right because here's the other question i had do you want to stay in the sneaker business i mean are you do you know enough about it i i know i i know the market very well i do this you know i i've been doing the sneakers since 15 to now but i i've been mainly doing um retail stuff so you don't want to so you don't want to do it long term no No, no. If I can make a quick buck, I will.

Let me ask you this. How much of the $18,000 shoe collection, because you said part of it is you flip them for some money. The other part is true collector. So I'm going to engage your collector's heart. I'm just curious. Give me a round number because you may not have thought through this. How many do you really want to keep? If you're going to sell some, but others you go, man, I really want to hold on to these,

just for truly being a collector and letting them go up in value from years and years from now? You got a number? I have around three pairs that I absolutely really don't want to let go of. All right, how much are those worth? Currently, each of those are worth around two thousand each so six grand right all right george all right bryce i'm gonna hand you to george george i got an idea what if he sells every other shoe all right except those three which would be about 12 grand he's gonna net 12

okay he sells the car he thinks it's worth 25 let's. Let's say he's right. He owes $20. Now he's got $17. And he's debt-free, and he cuts the credit card. So he sells the car for $25. Sells it for $25. He has $25. He pays off the $20. He nets $5 on the car. Plus the $12.

That's $17. He's got $17 cash. And you can get a better car than a beater. Much better than a beater and no debt. Here's what I know about Bryce. He can get this collection back up and go in no time. I mean, if a 15-year-old can do this, 18-year-old Bryce is even better at it now. George, tell him why the credit card is a stupid idea.

Bryce, you play with snakes, you're going to get bit. And you're a sharp dude. You don't need to do this with debt. You told me right now that you don't even like carrying debt, so why mess with it? When you have the cash, then it's pure profit at that point, if you're buying and selling shoes. And same with your car. You're making payments on something that's going down in value. A car loan is one of the stupidest decisions when it comes to debt you could make. And the truth is, I think you're an amazing, amazing, bright, young dude. And you're

going to crush it for the rest of your life if you can avoid debt, which I know you can. Bryce, you can do it with cash. Also, three pairs of shoes for $6,000? Yeah, what are they? That's what my last car cost, McKen. All right, stop it, George. What are the shoes, by the way? What are the shoes?

The three pair. Oh, so the three pairs, I have a pair of Off-White Air Force 1s, the University Gold pair that released in Boston, and two pairs of Travis Scott Jordan 1s. And those are each worth two grand each? About that, and the size is yes. What size you got, by the way? I'm just curious. Ask you for a friend. This might be the first time someone makes a deal live on the Ramsey show. Oh, yeah. No, I'm not going to pay you two grand for a pair

of tennis shoes, man. Oh, we can work something out. I am interested in the Off-White Air Force Ones. We'll talk about it. The shoe world hurts my brain. Does it hurt your brain? What happens if Travis Scott does something stupid and all of a sudden the shoes are worth zero because no one wants to be associated with him? Well, that's why I didn't ask about the Travis Scott ones that's you make

a very good point right Bryce but Michael Jordan's Michael Jordan baby sure Air Force Ones are Air Force Ones that's true all right real quick before we let you go young man you're 18 what do you have an idea what you want to do you dreaming about something no I I I'm not I'm not too sure right now honestly are you in high school still no i i graduated uh in in 21 are you taking a gap year i'm not sure about college right now good man all right hang on the line i'm going to give you two things all right uh we're going to give you the get clear career assessment so 20 minute online assessment all right and it's going to help you get some real clarity on some great ideas, but more importantly, a purpose statement based on your talent,

things you do best, passion, work you love to do, and mission results you want to create. And I'm also going to give you my bestselling book, From Paycheck to Purpose. Think of the Get Clear Career Assessment, Bryce, as a compass. And the book is kind of the guide up the mountain. Hang on the line. we're going to give you both of those so kelly will give him an assessment get clear career assessment and the book from paycheck to purpose boy he's one of those kids that if he really listens to you on this whole debt thing he's going to be wildly successful because he has the foundation he's got the principles down of how to smart business yeah now we just have to do it without debt.

So he's not calling back going, hey, I'm $200,000 in debt because I thought I was going to make a huge profit off this get-rich-quick scheme. Kelly, ask him what the Ken Coleman deal would be for the off-light Air Force Ones. We'll see. We'll see during the commercial break. We'll see. I think it's a little high price for me, George. I don't think it's in the envelope for this one. Would you look cool in them? I don't know. I think I would. I high price for me, George. I don't think it's in the envelope for this one. Would you look cool in them?

I don't know. I think I would. I'll let Kelly decide that. Oh, boy. I know what the answer is now. Hey! But I also know we're coming right back with more of your calls on The Ramsey Show. I'm Ken Coleman, joined in studio by my colleague and co-host, George Camel, with a K. Excited to have you with us.

888-825-5225. 888-825-5225. We're going to get back to the phones real quick, George. I wanted to call out something I think is very relevant to our audience, and that is that community college enrollment is down, but skilled trades programs are booming. So this is an educational, hey, get qualified to make more money, bigger shovel, and boy, oh boy, the sands are shifting. All right, here's a quick snapshot where we are. Since the pandemic began, so let's call it, what, March 2020?

More than a million students have held off from going to college, opting to go to work instead. Our last caller, 18-year-old. Oh, yeah. He graduated in 2021. Kids making money selling shoes. By the way, I guess I should call back to that. Kelly did pull up the Air Force Ones, the off-flight Air Force Ones that I was looking at. Eh, not for me.

Wow. All right. The deal is off, Bryce. The deal is off, Bryce. But we still want you to do everything else that George told you to do. So Bryce is an example, though, of here he is. He's out making money, very entrepreneurial, hasn't gone to school yet. Two-year public schools have been among the hardest hit. We're talking about community colleges down about three quarters of a million students george that's 750 million george if you're keeping

thank you for the math on that skilled trades programs are the exception across the country associates degree programs in fields like hvac and automotive repair are swelling. This is from NPR, this article I'm citing. Now, another area, George, that I think for people that are handy and they're going, hey, I want a side hustle, maybe a weekend gig, maybe if you've got a different kind of a shift, maybe you're working nights and you want to make some money. If you know how to swing a hammer, oh yeah, construction, man, huge. There's a shortage in qualified construction workers. According to a September 2021 survey of the Associated General Contractors of America, the survey found that 89% of contractors are having a difficult time finding workers who are trained for the job.

That affects project timelines. Of course, 61% of contractors reported project delays because of workforce shortages. Ken, you're going to love this one. The federal government only spends a dollar on career training for every $6 it puts into college prep. Wow. So we're preparing kids for college for the two to four years and nothing beyond that. Nothing. And so let me just give this a little bit of real Main Street application.

Okay? Let me tell you what a skilled, okay, and I don't mean like college skilled. We're talking about trades. If you're good with a power saw, a hammer, all that kind of stuff, stuff that you don't know, you don't even know what I'm talking about. I pay people to do that. You pay people and eat ice cream while they do it. All right? You're looking at 250 bucks a day right now in williamson county that air this area around nashville 250 bucks a day that's good money that's a minimum so you know you're looking for that side

hustle george make some money to get out of debt and here's the other thing um what we're seeing is is the reason that people are pulling away from community colleges is they're becoming less and less relevant as opposed to going straight to a trade school, including technology schools, meaning not a traditional four-year college, but ultimately some type of boot camp like Bethel Tech, which is a nine-month program. Well, the big thing is people are rethinking the value of college, and this means securing a high-paying job without taking on too much debt because, as we know, the trades are a really affordable way to get the education you need,

to get the skills you need, to then get a really high-paying job at the end of that. That's right. So big fan of the trades. All right, good stuff. Let's go to Bowling Green, Kentucky next where Blake joins us. Blake, how can we help? Hey, guys. Good to talk to you. Let's go to Bowling Green, Kentucky next where Blake joins us. Blake, how can we help? Hey, guys. Good to talk to you.

Good to talk to you. So I had a question about just kind of looking for a job and kind of what strategy to use because I just recently finished up college and I got a mechanical engineering degree. But I put in applications a bunch of places here. There's a lot of industry around here and a little bit extended from the area. But I'm just having a tough time with that. And I think one reason that it's hard is, um, I don't have a lot of good like internship experience or project experience.

And it seems like in interviews, I don't have a lot of times like good answers for like, you know, how I would handle, like, if they give a hypothetical situation or if they say, like, tell me about something, you know, how you've handled this situation in the past or something, you know what I mean? What is your answer to that? Well, that's a, I mean, that was kind of a broad question. I mean, it depends on what kind of. Okay, but give me an example.

Here's what I'm wondering. Let me tell you why I'm digging into this. I'm wondering if you're applying for positions that you really shouldn't be applying for. I wonder if there's more of entry-level positions that get you in where you don't have to answer all those experience questions. Am I making sense?

Yeah, I know what you mean. What's the answer? You know your world better than I do. Are there positions that don't require that experience as much, so therefore you're not going to bomb that question? Because that's really what's going on. You're unable to answer it because you don't have an answer. Is that true? Yeah, that's pretty much it. Okay so so back to the question are there what are entry-level positions for a mechanical engineer do you know what they are you don't have to tell me but do you know what they are i mean like what specific like roles i would be yeah entry level

meaning a guy coming out of college with a mechanical engineering degree doesn't need experience because this is entry level do you know what those types of jobs are i mean i don't know particularly like and i know a lot of the some of the manufacturing plants hired at entry-level positions okay my point is blake at first i was wondering what your strategies were, but you're getting interviews, correct? I've gotten like a couple. Okay, so I'm going to give you some strategies overall, but I want to make sure you get where I'm going. You need to be looking for entry-level positions.

In other words, no experience recording. I mean, I have been. I know, but my point is keep looking because they're out there. You know, you're not the first student to come out of mechanical with a mechanical engineering degree or quite frankly, any engineering degree and have to get in somewhere. You're not the first person to ever have to do this. Where do those people go? I mean, this might be a phone call back with your professors or your career placement people to go, where else do I need to be looking? And we need to be going after that. Now, that's the first part of my advice is we got

to go for jobs that don't require experience because you don't have any. Now, the second piece is you mentioned internship. This is about relationship and so are getting more interviews. So the next part of my advice is all the same. How many people do you think, give me a ballpark, you know whether really closely or as an acquaintance in Bowling Green, Kentucky and surrounding areas? How many people? Just people, period. Yeah.

How many people do you know? In your area? At least a couple hundred. A couple hundred. How many people would you say each In your area? At least a couple hundred. A couple hundred. How many people would you say each of those couple hundred people know in the area? You know, something similar or more. All right. You're the smart engineering guy.

You know what 200 times 200 is? What's the answer? 400,000. So you have access to a lot of people and you got to start acting that way. This is about relationship, relationship, relationship. I'm going to give you my bestselling book called Proximity Principle. And this is a absolute step-by-step guide to the people and places you need to be putting yourself in right now. And you're going to get more interviews. And more importantly, Blake, you're not just going to get interviews.

You're going to have a relationship that recommended you for the interview, and so they're already going to have a great impression of you before you ever walk in the door, which, in other words, means you're going to have a competitive advantage. Do you understand what I'm saying? Yeah. George, final words. Blake, I just want you to have some drive and confidence, man.

I can hear it in your voice. You sound defeated. And if you walked in with me for an interview, I'd be like, I want a guy who's passionate, who cares. So show that in your next interview

and go, man, I don't have all the experience, but I'm willing to do whatever it takes to figure it out. That's right. I'm here for this. I want to be on your team. I want you guys to win.

I got the talent, baby. That's the attitude. I got the desire. I'm who you need. I can do it. But leverage those relationships. I got the talent, baby. That's the attitude. I got the desire. I'm who you need. I can do it. But leverage those relationships. Hang on the line. Kelly's going to get you a copy of the Proximity Principle. Read it. Do it. Watch the opportunities fly in

for you and you're going to crush them. Hey, big thanks to our team in the control room who do this thing that we get to call the Ramsey Show. Big thanks to my colleague, George Camel. And to you, America, this is The Ramsey Show. Hey, folks, Ken Coleman here. Did you know The Ramsey Show is one of the most popular podcasts in the world?

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