The Ramsey Show - App - Should I Buy a House Now or Wait and Rent? (Hour 2)

Episode Date: March 3, 2021

Debt, Career, Business, Home Buying Sign Up for a FREE trial of Ramsey+ TODAY: https://bit.ly/31ricKt  Tools to get you started:  Debt Calculator: https://bit.ly/2QIoSPV Insurance Coverage Checkup: https://bit.ly/2BrqEuo Complete Guide to Budgeting: https://bit.ly/2QEyonc Check out more Ramsey Network podcasts: https://bit.ly/2JgzaQR

Live from the headquarters of Ramsey Solutions, broadcasting from the Dollar Car Rental Studio, this is The Ramsey Show, where America hangs out to have a conversation about your life and your money. My name is Anthony O'Neill, host of the popular YouTube and podcast show, The Table, with Anthony O'Neill, and co-hosting with me is number one national best-selling author and also host of the very popular The Christy Wright Show that you can see on YouTube and on podcasts. And so we're here to take your phone calls about anything. If you're a lady, want to start a business, give Christy Wright a call. If you're a lady, want to figure out how to go after your dreams and your purpose, give Christy a call. You want to learn.

I was about to say something. I was about to say something. I was about to say something. I was about to say it again, Christy. I'm so nervous. If you want to get a bag. No, no, no, no, no. If you want to make some money, if you want to learn how to get your money right, and for the hip-hop culture, if you want to learn how to secure a bag,

give us a call at 888-825-5225. 888-825-5225 888-825-5225 888-825-5225 and you can hit Christy or myself up on social media. Christy at Christy B. Wright and Anthony at Anthony O'Neill. Let's go out to Phoenix, Christy, and talk to Barbara. Good afternoon, Barbara.

How can Christy and I help? Hi. I have an invention and I'm trying to figure out the steps I need to take to make that happen and protect myself. Oh. What's your invention, Barbara? Are we allowed to know, or is it a secret? Well, I'm not going to say exactly. It's a cleaner product.

I have a cleaning service. Okay. So it's something that I've looked at doing because I do different things, you know, to do this. And so I have something I think will work better than what anybody else has. Cool. That's awesome. So when you say you have this, I'm guessing you already have a prototype or a sample that you created on your own or you need to get that made? Well, yes and yes. I have part of it and I need to make, it will require a handle. So I need to, I have an idea in my head of how I want the handle to be because of how

I want the product to work. But I don't know, do I go to an engineer? Do I go to a lawyer first? What do I do because I don't want somebody to be able to steal my idea? You know, I know I'm going to have to have a patent on it. Yeah. Yeah. Well, I would say this.

When you are kind of just in those first early stages of exploring and research, research and development, you're kind of getting prototypes. You're asking questions. You're refining your idea. I genuinely would not worry about someone stealing it because you're so under the radar. You're not posting this all over the world. You're not broadcasting it. You're just discreetly going to some different vendors, seeing who, you know, whether it's a company, a manufacturing company that makes a prototype, a mold, you know, plastic mold.

You've got to look into some of the costs and what's the most efficient way to do it i would encourage you to find the um simplest smallest way to start because if when you're looking at molds for example if it's a plastic based uh handle that you know whatever your design is that can get really pricey in terms of upfront costs and i don't want you to do that until you prove the concept and get some sales in but what you can do is you can just start to dig around a little bit. I would say that look in your area in Phoenix. First, search locally because there's something so invaluable to going in person to the manufacturing plant, to shaking hands with the people that are running it, to seeing what their options are, how they work behind the scenes, behind the curtain versus dealing with an online vendor.

You're going to have a lot more options online, but gosh, you just could also make some mistakes and lose some money in translation. Even if you did pick someone online, I would go travel to where they're located to see where and how they operate. So I want to look for a company that manufactures handles, basically. Yeah, that's what you're looking for. The other thing I would do some digging is, and this is a very common best practice in business. Don't feel like you're doing anything shady. You can ask other companies that are doing something similar, that are manufacturing their own similar products.

Maybe it's not a cleaning handle, but it's a different type of handle. Or maybe it's a different type of product in a different industry. And just say, hey, how'd you do this? Who'd you talk to? Do you know of anybody? Just ask around. And that is a perfectly normal thing to do in business. A lot of people will be willing to share resources, contacts, company names.

Hey, I've got a guy over here. He may not be the guy, but he's got someone over here. Whatever the thing is, you're just going to do some scrappy digging research. And I would say that even when you find an option to manufacture your handle, you want to get three different samples from three different vendors. You want to get three different quotes, compare cost, compare commitment, and that type of thing before you make your decision. And then and only then, Barbara,

once you have got it locked in, you're like, I want to go with this company. Here's how many we're going to manufacture. Here's how much it's going to cost. Here's what all the logistics of fulfillment is. Once you do that, then I would get serious before you maybe sign with them, then I would get serious about a patent. And you don't need

a patent attorney. You can go to USPTO.gov That's United States Patent and Trademark Office.gov and you can file for a patent yourself. It's a little bit of maybe $2,000. You can do it yourself. You don't need to pay all this thousands of dollars in

attorney fees to do that for you. So you do that then, but first let's figure out your idea and concept and then you're ready to do the paperwork side of it. But that's awesome. I think that's really cool and I think you should do it. I can't wait to hear how it goes. That's really cool. Wow. Listen, that's why I said give us a call. We got the, she's the one.

I like that, Kristen. Tell her how to do it. Tell her how to save some money, still pursue her dreams, but here's the first steps. Yeah. That's why. It can be intimidating when you have an idea because you're like, well, I've got this awesome idea. How do I bring it into action? Those first steps can be a little intimidating, but you can do it. Absolutely.

Absolutely. Max is in Philadelphia. Good afternoon, man. How can Christy and I help? Hey, thank you so much for taking my call. I really appreciate it. Yeah, go ahead. Real quick. We got about two minutes, so get to your question for us.

I'm on Baby Step 2. I am trying to figure out ways to increase my shovel to fill this mess that I've made. I got a 5K increase for a new position at work in the last couple weeks. I just found out that I got a little over $5,000 bonus for the year.

Okay. I have a pretty unique ability to play piano and sing on the side. Okay. And I'm wondering whether it's acceptable to sort of put some money into that, whether it's, you know, I've been thinking about getting this piano shell that sort of mimics a grand piano to throw that tip chart kind of right in people's faces, uh, for the most kind of request songs, or, you know, I'm kind of feeling guilty about even the idea of putting a pause in a baby, baby steps. Um, I also have to get into some

sort of car to be able to get to those gigs, which I don't have right now. How much debt do you have right now, Max? So I have $13,000 in about, so it's an old car loan that isn't around anymore due to an accident. So I should be getting some settlement money at some point. Okay. I have no idea when, though. And then I have like $250,000 in student loans. Yeah, yeah, yeah.

Yeah, I'll tell you real quick, Max, you don't need to put any money from your bonus into your side gig. If you were in a different type of business, like you're a fitness coach and you don't have equipment to do what you need to do, I'd say, yeah, you don't need it for what you do. You're able to do what you do on the side without taking any money. Just get a bigger tip jar from, like, Walmart and just stick it in their face on top of the piano. The things that I'm hearing don't sound necessary. They sound nice but not necessary. Yes. So put that money on your debt. Don't worry about,

you don't need that to do what you do. Yeah, man, I agree. I totally agree with Chrissy. There's no need to spend any extra money or anything. You need to put all the money towards your debt

because you need financial freedom. You don't need anything extra for your business. Now, I do want you to consider keep that side gig so you can keep some money generating towards your debt. But don't spend any more money

into that. All right? Get out of debt. Keep the bag. This is The a smart move. I get questions all the time about where to start and what to do first. One of the most crucial and affordable first steps to take is to protect your family and get term life insurance. I know it's not glamorous, but all the other steps mean a lot less if something happens to you

and your family has no financial protection. Getting term life insurance needs to be a top priority. I recommend 10 to 12 times your income and lock in rates for 15 to 20 years. This gives you plenty of time to get out of debt and build wealth. I've been recommending Zander Insurance for over 20 years, and they understand and live this strategy, and will take the time to help you find the most affordable term life rates. Go to Zander.com or call 800-356-4282. It's not that expensive, it's not complicated, and you need to do it now. Monique is in San Antonio, Texas with a great question for Christy.

Monique, how can Christy and I help? Hi, y'all. It's an honor to be on your show. I've been listening to Dave and everyone for years. I have a question for Christy. I have read Ken Coleman's Proximity Principle, and I just started your book, Christy Business Boutique. Awesome. And I'm just at the beginning, and kind of I feel like God's been slapping in my face.

I've prayed about it. I've lived a corporate life forever, and I know there's so much more out there for me. I have a chronic illness. I do live with multiple sclerosis. I've had it for about seven years or so. And I want to share with not just other people with multiple sclerosis, but've had it for about seven years or so. And I want to share with not just other people with multiple sclerosis, but anybody with a chronic illness, the importance of health and fitness and a positive attitude, I think goes a long way too, because I'm open about it,

but there's people that don't know. And when people find out I have it, they're like, I would have never guessed that Monique. And how do you do it? Cause I know somebody that has it and they don't, they just kind of have such a bad attitude I don't want to do anything so I want to start a blog well I have my website already I purchased that I don't know and I want to go into fitness training for people with disabilities and I just I don't know if this is something that could potentially become a career or even how to start I've seen all these like on Facebook and everywhere oh pay x amount of hundred dollars and we'll teach you how to start. I've seen all these like on Facebook and everywhere, oh, pay X amount of $100 and we'll teach you how to blog and earn money.

And I just don't know if this is something solely, because I've seen in your book, you've said it, all you need is social media and you can start a whole new career. I guess I'm still kind of, how do I go about doing this? And is this a idea that maybe could go somewhere? It's kind of what I'm reaching out to you for, Christy. Yeah, absolutely. Well, first let me ask you a really basic question. Do you like to write?

I do, and I love telling my story because I want to help people because I feel like there's so much that people don't know about the illness and what's available to them out there, from everything to assistance with drugs and do you need these certain medications or not yeah I feel like there's so much I've learned in my time and um the power of a positive attitude and how to help people so that's where I'm at and I do love to talk and write about it okay well here the reason I asked is because you definitely have a message and you definitely have

people you want to help with it so that is. Where I want to challenge you a little bit is blogging isn't your only way to do that. Here's what I hear. And I'm just, and you're just on the phone with me, Monique. I hear such expressiveness in your voice that I would be willing to bet you'd be good on camera. You would be good on a podcast. You would be good on a YouTube channel. Now I'm not saying you have to do that, but the reason I'm challenging you there is making

money through blogging is very similar to making money through podcasting or youtubing so you really get to pick what is your medium to share your message and maybe you do multiple ones i do multiple ones but you want to start with one you want to start with one and get good at it to get your message out what's cool is when you start to help people through that medium then you're going to learn what messages are resonating, what information people need, and you can always add branches on to how you do that. Now, here's the deal. Making money through blogging or YouTube or podcasting or anything like that is a slow process if you don't have a product or service to sell. You're selling

advertising or sponsorships or affiliate marketing. You've got to have eyeballs, ears, clicks to be able to monetize it if you're talking about just monetizing the blog itself or the podcast itself. A better way to approach it, we don't make very much money for our company or ourselves through our podcast show. Where the money comes in is the back end when we talk about, oh, by the way, I have a devotional Living True 40 Days to Get Back to You, or I have a book business boutique, or Anthony has a book debt-free degree. When we talk about these additional resources that people buy, that's where the revenue stream is.

But the podcast, the show, the blog, it's more of a marketing megaphone as an example. So you can approach it either way. You can do both. You can have affiliates and sponsorships and we have that as well, but that's not going to be the bulk of your revenue unless you just have a massive following, which when you're starting, you don't. So what I want to challenge you to do as a starting point is think about which sounds the most fun to you, being on camera through YouTube, being on a podcast or writing. And you, like I said, you can always add them in later.

But man, if people are saying to you, Monique, I never would have known that you struggle with this, then visually they see something in you that inspires them. And I don't think that comes through in a blog. I just want to challenge you there. You're going to be able to possibly amaze people, inspire people, help people more when they see your presentation on camera or hear the expressiveness in your voice on a podcast. And they go, oh my gosh, she struggles with MS. I would never would have known and make that much more of an impact. So I just want to challenge you there. There's no right or wrong. You do what's right for you. But then begin to think

about what's the revenue stream in addition to, is it a course? Is it coaching? Is it some other type of consulting? Is there some other back-end revenue stream that's going to make it more profitable for you faster than just waiting on eyeballs to come and monetizing those to advertisers? So I just want you to think about that, the revenue side, but also think of the medium. But I definitely think you should do it. When you start to dip your toe in, you'll start to learn more about what you like and what works, and you want to do more of that. Great question.

Wow, man, that was an amazing question. This is fun. I love it. I love it. Man, let's keep the conversation going. Let's go out to Cincinnati and have a conversation here with Allison. Good afternoon, Allison. How can Christy and I help?

Hi, are you there? I'm there. What's up? Okay. So my husband and I are trying to decide where on baby step three be in saving for a house, what our monthly payment should be

because we make about $8,000 a month. So that would be the 25% for $2,000. However, we have a one-year-old and a three-year-old in full-time daycare, and that's a pretty steep cost. It's about $20,000 a month. So should we subtract that from the $8,000 to come up with a monthly mortgage payment? I mean, I think for you at this present time, you have no debt, right?

Correct. Okay. And you have a fully funded emergency fund, correct? Yeah. All right. I just want to make sure that we're super clear on that. So I think for me, the bare max, not the bare max, but the max you can go to is $2,000. That's going to be 25% of your take-home pay. And so if you want to go down lower than $2,000, by all means, do that. If you feel as if you will be a little bit more if it will be a little bit more comfortable for you and your family. But I firmly believe that $2,000 is a great mortgage,

right? But then at the same time, how can we maybe cut out on some other expenses so that we can live in a comfortable house? But if you want to go down to $1,500 a month, totally great. It goes back to what we were talking about earlier, Anthony, where it's like there's a comfort level that you get to have the discernment to decide what are we comfortable with. I'll tell you, for Matt and I, as we have made more money over the last 10 years, we have not upgraded our home and lifestyle. We will at some point, but we haven't.

And so we have more margin. And that margin is peace of mind. When my son went in the hospital a few years ago, peace of mind. There's not even with an emergency, but peace of mind. And so I will say that Allison, if you're even a little bit concerned about, you don't have to go up to the limit. That's a rule of thumb. Absolutely. You can buy a home that's a little bit less than that still meets what you want in a home, but you don't have to max it out just because you quote-unquote can because it's the formula.

Again, use your discernment and your comfort level, and if you know, like, hey, I'd feel better having a little bit more margin and wiggle room with two young kids, which are highly unpredictable, then by all means, feel free to do that. I think you need to do what's right for you. Absolutely. I mean, absolutely. What does your husband think, Allison?

We go back and forth every day. Yeah, yeah. I definitely agree with Chrissy. Just sit down with your husband and you all figure out what's comfortable for you. Just don't go above $2,000. But if you're saying, hey, let's just stick around $1,250 a month. Hey, that is great. I mean, we want you to be comfortable. We don't want you to live in paycheck to paycheck. We want you to have freedom. We want you to have peace. But then at the same time, I'm not just looking at my mortgage payment to Chrissy. I'm looking at everything, though. You know, where can I cut out on some things? Where can I cut off on daycare a little bit? Where can I find maybe I want to say a cheaper daycare, but like a daycare that may be still good. But even as within my budget.

Yeah. And the other thing that's so interesting, too, about margin, especially when you're in this baby step and this is kind of what you're working towards. If you're able to be in a home you like and have that margin, then when things come up, you cash flow easier. You're not having to say for 10 months for an expense. It comes quicker because, man, you've got so much margin to put at it. It just it makes a big difference. It really does. It really does. Well, y'all, I'm excited because coming up next on the next segment, we got two young people on the debt-free stage. That's right.

So y'all definitely want to come back after this. Tell your mama. Tell your daddy. Get the cats. Get the dogs because we about to have a debt-free stage two young people, James and Megan. See, I'm getting excited. Can't say a name right. Man, I get excited, you know, when I see two young people on the stage who are clearly

debt free. So give us the information. How much debt did you pay off? We paid off $93,000 in about 25 months. $93,000 in 25 months? Yes. Y'all was working. And then how much was your combined household income

during that time? Where did you start? Where did you finish? Well, for the first six months, we're at about $43,000. What? And we went up to... I'm trying to do the math here.

And we went up to about $130,000. Look at you. $130,000. See, Christy, that's how you secure the bag. Exhibit A. Exhibit A right here on the stage. His bag went big. Okay, so what happened for you all to go from $43,000 to $130,000 in income?

Yeah. Yeah, so we got out of college and had student loan debt and all those things. And so he was finishing up the police academy, and I was working. And then it took a little while to find a job. So when he finally found a job, we were able to keep living like we were living on one income in order to make sure that we were paying off our debt smart. Yeah. What do y'all two do?

I'm a police officer and Megan's a teacher. Amazing. Two amazing careers. That's right. Thank you both for your service. Serving our country. That's right. Yes.

Yes. All right. So I'm assuming the $93,000 in student loans, majority of them? Well, it was about $60,000 in student loans. Okay. I had the majority of that. All right. Two car notes.

Just a couple other miscellaneous, like $3,000. $3,000 in credit card debt. Y'all were just very normal. That's it. Yeah. Student loans, two nice cars, and some other small stuff.

Okay, cool. So what happened? What made you all want to attack this $93,000 in student loans? Well, I didn't think we had a problem at all. We were just living day to day. And I got an invite. We got an invite to attend my high school football coach and his wife for dinner. We met them for dinner.

And they were just happy. They were excited. They were like, hey, we got to tell you about this thing. We're paying off our debt. We're getting out of it. Just to see their faces light up and for them to tell us, I was like, Megan, we have to do something. Before that, right after we got married,

someone actually gave us Dave Ramsey's Total Money Makeover book with $100. We took the $100 and we kind of tossed the book aside. We don't need that. Everybody does. Every wedding gift ever. So after Dan and Carolyn invited us over for dinner, we went back scrambling looking for the book and we couldn't find it. We don't know who gave it to us either.

So shout out to whoever gave us that book for our wedding gift but we read the book and like i just lit up i read the book in a couple hours actually i just sat down and read the whole thing and megan was on board and wait you read the whole book in a couple hours like in one two hours it was it was like it was like six hours but yeah no not a couple but like eight hours like yeah still reading a book in six hours well it takes me six weeks it usually does too but that book i just couldn't put down for some reason you were determined i was determined i was definitely determined yeah that is cool that is awesome so i'm curious when you decided to make this commitment, what was the first few weeks like? When you realized, okay, we've decided, and now you've got to make some sacrifices and actually take action on it. For some people, between idea to action is hard.

Talk about that stage right there. Our budget was really jacked up the first time. We never sat down and budgeted anything. We didn't know where our money was going or what was happening. So it was just a mess. Yeah. After that, after we finally kind of configured what we wanted to budget for everything, it got easier. But it took some hard conversations, letting go of certain things, and just making sure that we were doing what we needed to do to get where we wanted to go.

So what would you two say is the key to getting out of debt? What's that one key to the millions of people listening to your message right now? It definitely takes commitment with anything. I never went through a process before where, I mean, I was that committed for that long too. I mean, two years, it seemed like a long time. It was a long journey. But looking back at it, it went by quick to us. But definitely commitment.

And if I can add a one B, it would be budgeting for sure. Put a B in it. Yeah. Budgeting was great. Yeah. That's so good. I'm going to put you on the spot what's your why like why did you all really really want to become debt free uh think about 10 years down the road like why does this matter to you two as a married couple young married couple well i'll kind of talk

about my why i don't know um i was going through the police academy i wasn't making any income and megan was just taking care of the entire family and we had a two-month-old son at home wow so um he he's definitely our why my why of why we did things i mean i don't want him to go through the process we had with student loans and other debt so because we took the sacrifice the short sacrifice to pay off our debt, he would never have to experience that again. So just knowing that, I mean, that's amazing for me. That's awesome. Megan? Yeah, I think mine was really motivated by Micah. He, we had to struggle through and make sure that our loans are paid off, but we don't want him to have to go through that and just not have to worry about money in general yeah that's so good who was y'all's two biggest cheerleaders we actually had

a couple um her sister alissa and her husband alex they went through financial peace university with us they actually are debt free as well um and dan and carolyn the couple that introduced us to the dave berms e-plan so shout out to them shout out to them so how does it feel i mean how let me ask this question if you don't want to answer it i totally understand but how old are you two i'm 26 and megan will be 26 next week wait wait wait wait you're about to get fired up i know that face i know that face you get excited you 26 years old paid off 93 000 in two years in one month i just gotta ask how does it feel to be on the end of the millennial age you know and you're debt free you have a beautiful son like How does it feel? It feels amazing. It really does.

I didn't know it was going to feel this great until it hit us. I thought the entire plan was a scam. I want to be honest with you. We just started tackling our debt. We're like, we can do this. We really can. It feels amazing. It feels amazing to not have to work all

the overtime that we're running the town right now too so just to take a break and i mean it feels it feels amazing yeah your hard work has paid off that's amazing listen man oh man i'm this is the ramsey show so i gotta be i gotta be careful what i say because i'm just excited for you too you know when i see young people like yourself, focused, determined, living with intentionality saying, hey, we want to be debt free so our son can enjoy life, grow up without debt, and then pass that on to his kids and then to their kids. It started with you all. That's right. You two are the legacy beginners, man. I just salute you, man. So clearly, you two are on your way to becoming everyday millionaires. So we have a copy of our good friend Chris Hogan's

book, Everyday Millionaires, for you. Man, this is amazing. Is Micah here? He is. Let's get Micah on the stage, you guys. Man, James and Megan paid off $93,000 in 25 months, making $43,000 and

$130,000 in a year. Let's hear a debt-free scream. Count it down, you guys. Three, two, one. We're debt-free! Wow. I mean, Christy, at 26, you're older than me, right, Christy? Okay, we don't need to bring that up.

Okay, feels a little pointed, anybody? I'm just saying, Christy, I'm just saying, but at 26, were you thinking like that? No, I was realizing I had to turn something around. That was the beginning of my journey, not the end of it, for sure. That, for sure. That's awesome. And Christy is older than me. This is The Randy Show. 888-825-5225

888-825-5225 This is The Randy Show. And sitting in today is Christy Wright, number one national best-selling author, and Anthony O'Neill. And I've written a book. But man, we are here to take your

phone calls and to really have a great time. We love laughing. We love just talking and helping and serving people. And so we're going to keep it going on the phone lines. Christy, let's have a conversation with Alex out in Tampa, Florida. Good afternoon, Alex. How can Christy and I help? Hey, y'all.

How's it going here? Long time listener, first-time caller over here. All right. How can we help? I got a question for y'all. A long-time listener, first-time caller over here. All right. How can we help? I have a question for you all. We are a first-time homebuyer, and the real estate market down here in Florida is hot, and I just like it everywhere else in the U.S.

Okay. And I just wanted to get your guys' opinion on a first-time homebuyer here, and if we should still continue the rent or if we should go ahead and pull the trigger and buy or build right now or wait till the summer or wait till, you know, no one can time the market. But I was just curious on what your thoughts were on that since this is the highest the market's ever been with the lowest inventory. Cool.

Great, great, great. Give me a little bit about yourself. You know, how much are you out of debt? Yeah, we are completely out of debt. It's going to be, uh, my fiance, uh, Courtney and I, um, we, uh, we have about 180, uh, saved up. We're completely out of debt. Okay. Is that 180 K on top of your savings or is that total $180,000? Uh, that's a total of a $180,000 saved between the two of us. That's amazing. That's real.

I mean, you two are killing the game, all right? Yeah. So I like that. So do you two plan on staying in Florida once you two get married? Yeah, so we're getting married here in a few months, and we'll be in the Tampa area looking for a home. Cool. Great.

Well, here's my suggestion. You clearly have the money. Okay. I'm not going to spend $180,000 to put down on a home. I'm going to look at what will it take to have at least three to six months of your emergencies inside of there. If you two have a stable income, a stable job, then I would definitely go ahead and just keep it down to maybe just three months. But if you're like in freelance entrepreneurship type stuff, I will go ahead and set aside

six months. And so you'll have at least a hundred thousand dollars put into a home. So generally what, what, what we tend to say is wait one year after you get married. So you and your wife together can go around looking and see what you know what you all like get used to living with each other and I still like that for you too even though you all are already in Tampa and you're going to stay in Tampa but I do believe that you should go ahead and just maybe save up a little bit more and just spend at least give yourself six months in the same house, learning each other, learning what you like, learning.

Okay. We need this now since we understand how to live with each other. So I would suggest that. When are y'all getting married, Alex? Yeah, we're getting married in September. Oh, congratulations. Well, it's interesting too, because what's so cool about your position financially,

especially is you have options. So if something happened to come on the market that's just the most perfect house in the whole world and you prayed about it and you feel like God is this is the thing, then you're in a position to buy it if you wanted to. But I could not agree with Anthony more because I will tell you totally transparent, and this is not talking behind Matt's back, but Matt and I would both agree the first marriage first year of marriage was hard everyone talks about the newlywed phase and it is fun but you are bringing your own set of expectations to even just living in a house with someone of how they grew up and you grew up and who's doing what dishes and chores and so

what's so cool is if you add the extra stress of buying a home decorating a home owning a home and all the maintenance that goes into that on top of that first year, it will add to your stress. Now, it's not that you can't do it, but I agree with Anthony. I think if you baby step that and you say, okay, first step, let's just get used to living together as newlyweds with less pressure and the landlord can take care of the maintenance.

Second step, let's buy a home and take on that new level of challenge together. I think it's just going to spread it out, make it a little bit more enjoyable for you. It's not like you have to, but man, I think that's maybe the smarter option. Yeah, great question, Alice, and congrats on getting your wife doing that. Hey, stay on the line. Since you two are getting married,

I'm going to have Kelly give you a free year subscription to Ramsey Plus, because you all are going to be starting off in baby steps four through six. And so I definitely would love to just sow into y'all's marriage, because I'm praying that all are going to be starting off in baby steps four through six and so i definitely would love to uh just so into y'all's marriage because i i'm praying that it's going to be fruitful and uh you all will be married for years and years and years and years and years until both of you all go home to see the lord so that's alone forever um hey blinds.com find out for yourself why blinds.com it's the number one online retailer for custom window

covering you get free samples free shipping and with the new promos they run every month Find out for yourself why blinds dot com. It's the number one online retailer for custom window covering. You get free samples, free shipping. And with the new promos they run every month, you'll save even more. Use promo code Ramsey to get the best deal. Rules and restrictions apply. Today's question comes from Dylan in New York. I've been a part. I've been a part time freelance proofreader for a little over two years now.

I'm ready to expand my business, but there are only so many hours in a day. I currently turn down about two projects a month because I don't have time to do them. I'm thinking about subcontracting out the projects I don't have time for, but I'm not sure how I would structure their pay or if it's morally okay to accept work from a client and then give it to someone else to do, though I would review every job to make sure it's highly quality, high quality. What do you think, Christy? Two things, super simple. Number one, raise your prices, period. Raise your prices. If the demand is higher than the supply, the supply being the hours you have in a day, it is time to raise your prices. And then that is just, that's showing you

what you're able to do at this time. It's a great time to raise your prices. Second thing is, when you talk about, is it morally okay to accept work from a client and then give it to someone else to do? That is what business is when you employ team members. So of course it's morally okay. The only thing that you might want to do just for your own peace of mind and to be fully upfront with the client is to let them know that your subcontractor, your team member, however you want to phrase it and structure that person's employment with you, you should be upfront that they're going to do it. And you let them know like, hey, I'm going to pass this off to so-and-so, but I'm going to supervise it. I'm going to make sure the quality of work. When it comes to that, you need to think through the pay.

So you're going to build in to the cost for the client, the amount that you're going to pay the subcontractor, the team member to do it, and the amount of money that you're going to make off the top for running the business because you're running a business now and you're employing people. So you can do either. You can raise your prices or subcontract it out and manage that like a business. Or you can do both. And all of them are good ideas. And that's exactly what you should be doing when your business is expanding and the demand is growing. Great question. Oh, man, that's such a real good question. It's so funny because when you were answering the question, Christy, I was like, absolutely, man. People do this every single day. All the time.

I mean, every single day. Yeah, that's right. I call one company, yeah, we're going to send out a contractor, but I called you. Well, they work for us. That's right. So there's nothing wrong with it. Just make sure that whoever's representing you is doing a great job at what they're doing. Because it's your brand on it, your name on it, your reputation.

Absolutely. Hey, you guys, are you feeling stuck with your money like you've never you never get out of debt or save enough for the future? Listen, it doesn't have to be that way. And you can make progress with your money and faster than you think. But the only way to make it happen is with a budget. Again, we just heard the debt free couple say you got to get on the B word, a budget. That's why you need Ramsey plus membership. You'll get access to the premium version of our every dollar budgeting app. You'll be able to plan out every dollar you'll spend and save before the month begins.

Connect your budget to your bank so you can never miss any transactions and get custom budget reports. That shows you where you can find more money to put towards your goals. When you budget and get intentional with your money, you will make progress. Let me say that one more time. When you budget, when you have a vision for your money and get intentional with your money, you will make progress and progress very fast and you can start budgeting for free today to start your free trial of ramsey plus go to daveramsey.com that's daveramsey.com i can't tell you how much i love budgeting i didn't like it at first chris i'm gonna be real really oh i didn't like it i didn't like it because i, Christy. I'm going to be real. Really? Oh, I didn't like it. I didn't like it because I was able to

see where I was spending the majority of my money and I didn't like looking at myself. I'm the control freak. I like the control. I get to just move these numbers around and control it and see it. It's like a game. I love it. I'm glad that you loved it. I didn't like it, but now I do love it.

Well, that's a wrap for this hour. Man, it's been fun. Christy, James, Kelly, America, thank you so much. This is The Ramsey Show. Did you know The Ramsey Show is one of the most popular podcasts in the world? Subscribe or follow today wherever you listen to podcasts.