The Ramsey Show - App - Should I Buy a New Vehicle? (Hour 2)

Episode Date: July 29, 2022

Dr. John Delony & George Kamel discuss: Getting a spouse on board with the baby steps, When it's time to get your own place, Pausing getting out of debt to save for a wedding, Taking a job that you enjoy more but that pays less, Renting vs. buying, Thoughts on buying a newer more reliable car. 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

Девочка-пай Live from the headquarters of Ramsey Solutions in Nashville, Tennessee, this is The Ramsey Show, where America hangs out to have a conversation about your life, your money, your relationships, your work. I'm John Deloney, joined here by George Campbell, and we are taking your call from just about everything at 888-825-5225. That's 888-825-5225. The call is free.

Give us a buzz. Let's go out to Huntington, West Virginia, and talk to Kane. What's up, Kane? How's it going, guys? I'm so happy to be talking to you guys. You're the first Kane either of us have ever talked to on the show. It's good to talk to you, man.

That's good. I don't have a horse. Thank you, Cain. Cain knows how I feel about horse folk. You know what I mean? Yeah, yeah. Bless you. I do like horses, Cain, but that's a whole other thing.

All right, so what's up, man? I got a two-part question. I'm having a little bit of trouble getting my wife on board and then just i'm letting everything go as my income's just keeping us afloat on everything that we do i've got some rental properties and stuff but our mortgage is pretty heavy and i'm just trying to get a base on what, I know I've heard you tell people before, like you can, if you can pay it off, just, you know, a lot of times you'll tell them to sell the rentals, but I've never heard anybody say that they had rentals that was paid off,

you know, versus not being paid off. Normally they've got mortgages and stuff on them. So I was just trying to get a basis on what. Let's start at the very beginning here. You said you're having a hard time getting your wife on board with what um just the ramsey plan in general i mean she she knows that i'm you know real apt to just you know i try to push it on a lot of people between my sister and her and just family members because i know what such a good thing it does for people. And I try to get it out to the world, you know.

So it's not a big secret that I'm a super nerd, okay? That's not for debate. I hide some of the depths of my nerddom, and I'll let you in on one of my nerd secrets. Is that cool? Back in the day, I used to have a spreadsheet that I kept and I went and bought my own glucose, um, monitor and,

my glucose strips and I would keep my, I would keep my blood sugar levels and I'd keep my ketone levels. And I, every month I would try a new fad diet and i wanted to track and see what was happening in my body and if it worked good and what my weight was and how my energy levels were and all this stuff it got to the point that my wife every month would say because she's just awesome she'd say what are we this week are we raw vegan are we keto what are we doing and every week i'd read a new book and be like this is the thing and I became like the worst like yes

I was insufferable invent I can keep going evangelizing to everyone Cain you got to be on this diet it's the best it's so good and it and one thing I could confirm with a hundred percent accuracy not a single person was ever ever converted to my diet of the day by me evangelizing to them in that way. The only time I've been able to, over the years, quote unquote, convince people to change their life is just to show up and keep doing my thing. And they say, hey, you seem to be happier than me your marriage looks different than my marriage you seem your kids want to be around you more than my kids want to be around us how do you do it in that so you see what i'm saying kane you're coming at your wife with a scheme with a plan and the fact that you've got a bunch of paid for rental houses but your house

still you've always got a thing going, don't you? Oh, absolutely. So you're a guy with a thing. So you come with your wife and you say, hey, I got a new scheme. And she goes, alright, there we go. That's different than this. Hey, honey, we

owe money and it scares me. And I don't say that word very much because I'm a tough guy from Huntington, but owing other people money scares me. Every month not knowing how much money we have in the bank, in this real heavy mortgage, and I'm working as hard as I'm

working and I don't know where we are. I don't know what you're spending. I don't know what I'm spending. I don't know how much groceries cost. I feel disassociated from my own family. I'd love to picture you and me in a paid-for vacation home someday and our kids going to college because we've saved for it. Would you be willing to go on that journey with me? It's a journey of peace and safety.

You see how one's a scheme and one is I love you so much that – you see what I'm saying? Yeah, absolutely. And one of them involves her. Yeah, exactly. That's the difference. So, Cain, have you asked her, like, hey, what are your goals? What do you want to do?

Yeah, I mean, we're pretty goal-oriented, but, yeah, I focus, you know, she's a stay-at-home mom and watches the boys, so I want to treat her the best I can and and stuff like that but so I okay and I was in the marketing world for many years and in the marketing world you always look at customers pain points or their felt need and that's how you best reach them with your product or service so I want you to take that approach with your wife and go hey what are her pain points what is she struggling with right now? And what are the points that touch money?

And how can I connect the baby steps to those pain points? And then all of a sudden she goes, oh my gosh, yes, I can be a stay-at-home mom and not have to worry about if you're going to be able to make ends meet because we don't have any debt anymore. We have a paid for house because we sold the rental. It changes the lens in which she looks at this whole plan. And here's a magic way this is both to you kane and all the men listening a magic way to add to find out what

your spouse's pain points are is to ask them don't go home and announce her pain points to her kane right you're like oh man and if you're going to do the baby steps we're not going to be ish we got to be all in on this because it's going to show her that you're serious this time and this isn't another scheme and that you're not going to be halfway in and then choose a different plan three months later i think when she sees that level of intensity and sacrifice and what and the fact that you're doing this for the family and not just because kane had another harebrained idea it's going to change the way she looks at this this conversation starts with you you not telling her hey you need to get a babysitter for the kids i won't take you out not that you find a babysitter kane and you let your

wife know um i want to take you out and we're gonna do something special and i want you to take her out to somewhere special and i want you to have a nice journal that you've bought for her um and hand her a pen and you have one yourself and I want you to tell her one thing we haven't been doing since the kids came along since uh we had the rental house here and this rental house there and we bought this big house then we've not sat down and dreamed together and we haven't sat down and planned together. And we haven't sat down and planned together. And I don't know what your needs are in this new season. And I want to reimagine what our marriage looks like and start the conversation with this, Cain. I'm a schemer.

As the great Vince Neil says, you know, I'm a dreamer. You're going to start out with, you know, I'm a schemer. And this isn't one of my schemes. This is me wanting to get to know my wife again and get to know our home again. And I want us to plan for the future. And by the way, as a part of this plan, a really big deal for me is that we don't owe anybody anything. And I know that if I don't land this particular job, that we're still going to be okay. And that you can, like George was mentioning, you can do what you want to at the house. If you want to hire somebody to come home for a couple of days,

to come to the house for a couple of days, so you can go out and do things, we're good. Yeah. Okay. And on top of that, I'm going to gift you guys Financial Peace University. Watch those lessons with her. You can also start your every dollar budget with that. Hang on the line, Austin will pick up. That's our gift to you. We'll be right back. your plate, a job, your home, your marriage, and your growing family. While you're enjoying the present, you can't help but think about your future and your finances. As you explore your options, consider Christian Healthcare Ministries, or CHM, for your healthcare. Their generous maternity program and budget-friendly monthly programs have been a blessing to members welcoming children into their families. Visit chministries.org slash budget to see if it's right for you.

Christian Healthcare Ministries is a Ramsey Trusted Provider. Let me ask you a question. When you think of a millionaire, what kind of job do you picture them having? Is it some kind of high-powered executive position like a VP or a CEO? Is it Dr. John Deloney? Well, here's the thing. Only 15% of millionaires actually have jobs like that. The reality is that the top five careers for millionaires in America are as follows, engineer, accountant, teacher, manager, and attorney. That's just one of the surprising things our team found out when we conducted the largest study of millionaires ever done. We talked to tens of thousands of millionaires to find out who they are and how they achieve that goal. Our study also made it abundantly clear that to become a millionaire, you've got to invest wisely. And a big part of that is getting good investing advice.

You got to work with an investing pro who can walk with you and teach you about the options that are right for you. Our team recommends trustworthy, vetted investing pros from all over the country. We call them SmartVestor pros. If you want to get in touch with one in your area, go to ramseysolutions.com slash SmartVestor and start building wealth today. All right, let's go to Sabrina in Salt Lake City. Let's find, there she is. What's up, Sabrina? Hi, I just graduated from college and I've been staying at parents' house for the past month. The thing is that just due to some family differences, I'm going to be moving out tomorrow to my boyfriend's parents' house. They've given me a really big blessing until I find my own place. How exactly do I prepare to leave there, and I guess how long should I be staying there?

Because they obviously told me I can live forever, but that's not the case. Sure. What happened at your home? Just some family differences. There's no drugs or alcohol or anything. They just didn't like the way that I was doing things in life. And yeah. Okay. you okay um so i think in number one um i'm proud of you for being an adult and saying it's time for

me to go and you're not on the air throwing grenades and they're the worst whatever like you're actually sounding pretty grown up like we have some differences and i'm moving on and that's called the boundary and so good for you. As for your boyfriend's parents' house, good on them for seeing somebody in need and saying, hey, you're welcome to be here. I think you are very, very wise to not take the, you can just stay here forever, like, ah, no, I can't. And so here's what I think would help make this interaction successful.

I would come up with a date three months, four months and say, uh, sit down with them and say, what are, uh, I'm moving into your home. What are the rules here? Do we home at a certain time? Do you want me, um, work? What can I do to help around here? And they're going to say nothing, nothing. And I think it's important for you to say, no, I'm going to do something. I'm going to participate in the life of this home. Are you going to pay rent, pay a hundred bucks, pay 200 bucks, pay something small. The year before I got married, when I was saving up money, I moved in with a friend's parents and I paid a small amount of rent, but it was important for everybody that I had some skin in that game. And we had a very clear exit date. This is when this is going to, this is when this time, this is when I'm going to be out. And it puts you on the hot

seat to save some money, work some side hustles to do whatever you got to do to go get your own apartment. And also it left everything clear, right? So I would go in and just have a direct conversation about their values, what you can do to help around the house and let's go ahead and put an end date on paper. It may be that four months come and go pretty quick and then this guy, you're a fiance suddenly and so I'm going to stay another five months

or something until, but let's at least get a preliminary date on the books that we all shake hands and agree. Does that sound good? Yeah. So Sabrina, you said you graduated. Are you working right now? No, my job starts in October. That's kind of the big thing here. Cause like, I just don't, I mean, like I'm going to get a job at Target starting Monday. But yeah. So you'll have some income. I'm just planning on chilling. What will you be making at Target? Um, 17 an hour. Okay. I want you to put as much of that away in savings as possible to take advantage of this, uh, amazing blessing where you're not paying market rate rent for a while. That's going to set you up really nicely when you enter this full-time job. Is it already

set up? You've accepted an offer? Yeah, yeah. Awesome. What kind of job is it? Software engineering. Oh, fantastic. Do you know the starting pay? Yeah, it's $105. That's kind of the thing. I'm set once I get my first paycheck

or the first couple of paychecks in. So what if we said, hey, I'm going to live here until I start this full-time job and I'm going to immediately move out and rent somewhere either on my own or if I can't afford it, I'm going to live here until I start this full-time job, and I'm going to immediately move out and rent somewhere, either on my own, or if I can't afford it, I'm going to find a roommate. Yeah, that sounds perfect. I love it. That's what I was thinking.

Sabrina, I'm going to push on one thing you said, okay? You said, I got this great job starting in October, but I was planning on chilling between now and October. A recipe for relational mess, a recipe for mental health distress, is this idea that I'm just going to do nothing. I'm just going to quote-unquote chill. The second thing is you made a very grown-up decision to leave your parents' house. Sounds like it was the right decision for you. But sometimes we have plans. I'm going to go go on vacation and then suddenly i lose our job or i'm going to do this thing then the world shifts underneath us and you had this plan where between

august and october i'm just gonna i'm gonna kind of lay low because i got this awesome job i'm gonna work at target a few hours a week it's gonna cool. You made a grown-up decision to step out, and that means you probably cashed in the idea that I was just going to be chilling. So my recommendation to you is, yes, you keep that job at Target, but you also get another job at Starbucks in the evenings, or you also drive in the evenings too. For the next August, September, I want you to work pretty tough. Get after yourself a little bit. Save some money so that October, when you start this new job, you can move into your new place and be ready to rock and roll. The other thing, George, I see this happen a lot, is people sign an agreement for several months in advance and they think everything's going to be great. If

there's cutbacks to be made in some of these companies, they start with the people who haven't started working here yet, right? That's one happened to me out of college okay i spent all summer banking on this job i thought i was a shoo-in they were like oh yeah it's gonna be great i interviewed and at the very end of the summer they sent me an email that was like unfortunately we have found that you are not a fit for this position and i was just flabbergasted right because i had stayed in this place chilling all summer going, I got this. First full-time job. It's going to be great.

And then I was scrambling. That's right. So you got to kind of plan for the plan to not go to plan. Always plan for the plan to not go to plan. Without putting yourself in paranoia. Yes, yes, yes. And negativity. It's a delicate balance, John.

You have found the balance. I don't know if I have. I don't know. All right, let's go to Rebecca in Wisconsin. What's up, Rebecca? Hi, thank you guys so much for taking my call. You bet. Hey, we're up against the clock, so get right to the question. Okay, so I just got engaged three weeks ago. I'm on Baby Step 2, and my fiance just started reading Dave Ramsey as well. I am wondering, I have $5,000 left at Baby Step 2. Do I put a pause on Baby Step 2 and save up for the wedding,

or do I do both simultaneously? Well, are the options we go into debt for the wedding in order to pay off the other debt? Nope. Okay. So could we continue paying off the debt and still cash flow a wedding and make it $5,000 cheaper? Is that an option?

I think so. I think that's a cool plan. But worst case, yeah, I don't want you going into debt for the weddings. If that means paying minimum payments on our debt for a few more months, I'm okay with that because I don't want you to continue bleeding here going further into debt. But I love the plan of saying, hey, how can we continue this intensity so that we can start our marriage off completely debt-free and cash flow a wedding? And the flowers that we would have paid $3,000 for,

they would have died in four hours anyways. We won't miss them. My fiance's very strict on his budget, so yes. I love it. Do you have a budget for the wedding? Yes, $15,000. Cool. And how close are you to paying that in cash flow?

We, cash flowing, I'm $1,000 short, my fiance has it. Okay, so you're saying we're a thousand short, so it's not really going to affect your debt payoff plan then? Not exactly. That's why I didn't know if I should just put a hold for two months and just keep saving it up. That way my whole wedding is paid for and then I- How about this? Let's get intense about getting this cash flow wedding. Once that money's sitting there, let's go after the debt and see if we can pay it off by the wedding as a personal challenge. And let's have one more personal challenge. Let's have a little bit of fun.

I want you and your fiance to go out on a date and see if you can get this $15,000 wedding to $12,500. See if you can cut it. Start negotiating. Say, I'll pay this vendor in cash. We're going to cut this person a check. They're giving us $400 back here. We're going to have Aunt Sally make the cake. We're going to do something.

We're going to get it done at $12,500. We're going to take that money and get that debt're giving us $400 back here. We're going to have Aunt Sally make the cake. We're going to do something. We're going to get it done at 12-5. We're going to take that money and get that debt paid off. Aunt Sally makes a great cake. A great cake. This is the Ramsey Show, 888-825-5225. I'm John Deloney, joined by my good friend George Campbell. Let's go out to Regina in San Antonio, Texas. What's up, Regina? Hey, how are you guys doing today? Good, how are you?

Great, huge fan of the show. Thank you so much for taking my call. You bet, we're a huge fan of yours. What's up? So I'm currently working for a retail company. I've been working here for about four going on five years. They've been really good to me. They have 180 hours of PTO. They have insurance benefits. They have free therapy sessions for their employees. And I currently got an offer for another job. Now this retail job is not necessarily in my field. I've been doing

customer service the entire time. And this new job is a marketing coordinator with a nonprofit, which is awesome. However, they have only 80 hours of PTO, but they do have like other good benefits. They do 6% match and the 403B, I think it is. And, uh, they also have, um, paid, uh, what do you call it? Holidays from Christmas to New Year's Eve, but it's a $5,000 decrease in my income. So I'm a little torn just because I've been so loyal to, you know, this company that I'm with right now. And I'm currently working in corporate since November. So I was hoping to grow with the company, but it's a little slower than I've expected. But this nonprofit is giving me an opportunity to be in my field of marketing.

And I recently just got my MBA. So I've been kind of struggling on trying to find a job in the field. Is this new position going to get you closer to what you see yourself doing three to five years from now? Yes, because of the experience that I'd be gaining. I've set myself up, I guess, to live the current salary that I live. So here's what I'll tell you. In my personal life, on multiple occasions, I've taken a pay cut to go from a job that I was either through with or was doing great with to another job that I was going to do even better or that had a higher upside to it or I was going to learn some new skills. Multiple times.

A hundred percent. Every time I've done that, it's paid itself off in the long run. Both in my life because my life was better, and financially. Just the math. It sounds like you are willing to trade being miserable and not being frustrated at work for a lifestyle that you've set up that's a couple hundred dollars a month more. You see what I'm saying? seems like a strange trade to me talk to me about that i guess it's because like with the current company i have they give us the free therapy sessions and i utilize those you know just to stay on top of my mental health and i mean you're at a job that you don't want to be yet and so then you

but they cover the therapy you go see what you're saying okay take the benefits off the table for a second which job do you want what lights you up when you think about doing that for eight hours a day I mean honestly it'd be really fun to be in like working with a non-profit as a marketing coordinator that sounds like the dream and the next step. However, I don't know. I mean, I just, I'm so used to being with this retailer company and like that I've had the corporate opportunity. That's it. Making a decision because you're used to it

is a terrible filter for making a decision. Yes, you are trying to make this about vacation. It's not. You're just scared. And that's okay. I was a dean of students at a billion dollar college and I'm a YouTuber dude I get it it's it was a scary jump right yeah you know this whole thing and then you move over here it's it's um

it's a tough move and sounds like it's the right move Regina if you if you hate this marketing coordinator position could you leave two years from now and go be a senior marketer somewhere else and make 10 15 15, 20 grand more? Maybe. I'm just scared because I've applied to like 30 places and this nonprofit's the only one who's given me a chance. Well, do you have marketing experience right now? I have about a year or two under my belt, but it's nothing corporate level or, you know, it's for a university. I mean, it's pretty big, but. I say if you're excited about it, you go for it. And if

you can live on $400 less than you are now, because you're following this plan, you're going to have bigger upside on the backend. I started here as a marketing coordinator, you know, nine years ago, and there's growth. If you're crushing it, they're going to go, Hey, we want to put you in this position in this position. And if there's not growth, you can leave. That's right. It may not be the last job you ever have, and that's okay. I promise you it won't be the last job you ever have. Okay, I have one more rebuttal, and then you guys can fight me for it. Oh, I love a rebuttal.

Bring it back. Sorry, sorry. So I've always had two jobs. Like, I just finished my MBA, went to school full-time. I had a full-time job, and I had a part-time job. So I'm super used to being super busy. Now I only have this full-time job. So I don't feel secure not having,

I guess, a second job that I truly like. Well, do you have debt? I'm sorry? Do you have any debt? I do. I have my grad school and my credit cards, which I'm also, I'm following the baby steps. So, I mean, I'm doing that, you know, which is, I guess, the whole career. Regina, Regina, Regina. Not having a job. Regina. Yes. Just a fellow Texan to another Texan. You and I just having chips and queso, just hanging out, okay? Yeah. What are you running from?

Security. Yeah. Somewhere along the way, somebody told you that you're not enough, you're never going to have enough, that all this stuff comes crashing down on you and your um your addiction is busy yeah probably it's a little bit your anxieties about chaos it's a little bit busy and what you're doing is you're using busy using achievement you're using go go go go go go go as a um as xanax as a way to band-aid over just being present and still for a minute because when you're present and still

you got to look in the mirror and for some reason you don't like regina that much or you think you'll like her more if she gets this degree from this place at this cost and then gets this job and makes this much money and what i'll promise you is the great the great tragedy of nba programs is they don't tell you this one fundamental truth no matter what job you get no matter what salary you can negotiate for you go with you everywhere yeah and the world is littered with people who were vice presidents and had fancy cars in 5,000 square foot houses and they imploded everything. And so a great move for you professionally and personally is to take a job that you love that is going to be a job that's going to teach you things at a much slower pace. And you can use this time to heal and get well and figure out what comes next. Yeah.

See what I'm saying? Mm-hmm. And I want you to start getting... You sound like my therapist. Ta-da. I want you to start getting curious about your body, trying to protect you. Every time it starts to get that angsty feeling,

that Saturday morning at 10 a.m. feeling, you know what I'm talking about? That I should be doing, I should be doing, I should be doing? Yeah. Ask yourself quietly, with a smile on your face face what's my body trying to protect me from what about me what about this moment isn't safe and you need to answer those questions because when you make peace with those questions you can work anywhere for any amount of money and then when you can work anywhere for any amount of

money people really want to hire you they come come after you then. Yeah, that makes sense. Does that make sense? Regina, I heard you say multiple times, well, I'm used to having the second job. I'm used to, I'm used to, that doesn't mean it's good. It doesn't mean it's normal. And so let's find a new normal. I just had one job. I felt so stressed out. Like I felt so, I felt like I was getting depressed. You felt lazy? Yeah. You didn't feel stressed out. You felt worthless. You felt lazy. Yeah. And that's a lie. I want to get to the point where Regina can just sit with Regina and not feel like I'm not doing enough. I'm not being enough. My friends that work with professional athletes tell me getting a professional athlete into the gym isn't the hard part. Teaching them the benefits and the power and the

critical importance of rest. So I want you to look at rest as a skill. I want you to look at peace as a skill. It's something you've got to practice because you don't know how to do it. Yeah, I need to learn that. So hey, we're going to practice it. We're not going to beat ourselves up about it. We're not

a leadership failure. We don't have character issues. No, it's a skill. My guess is you and I could talk for a long time, and you've been running hot since you were a little kid. And those same things that kept you safe as a kid, kept you alive as a kid, are the things that are going to burn you out as an adult. So all that means is you've got to learn some new skills.

And we say this, I say it all the time, and probably too much but I'm going to keep saying it you're worth being well and you're worth peace and you're worth falling asleep at night without medication and you're worth getting up in the morning and drinking coffee because you want to, not because you have to

and you're worth only working one job sometimes you're worth peace we'll be right back. 888-825-5225. This is the Ramsey Show. Let's go out to John in Bakersfield, California. What's up, John? Hi, how's it going?

Excellent, brother. What's up? So just a little background. I've been with my girlfriend here for a while. We're both in our 30s. No debt, no kids. We both make good money. I make about 90 a year. She makes about 130. So we each own our own house right now. We'll probably get engaged here very soon. And we've talked about when we do get married, we're going to move into

her house. I like her house a little better. She's been there longer than I have. Well done. Going to turn everything to set it up. She thinks when I move in, she'd like to keep my house as a rental property. I could probably net about $800 to $1,000 a month on it. Although with what I already have into the house and how the market is, and I've lived in it for over two years, so as far as I understand, I wouldn't pay any capital gains tax. I could probably get about $200,000 just straight out of it. So I'm just kind of wondering your opinion on which would be the smarter route. What's the house worth?

My house, I bought for $320,000 just a little over two years ago. I have about $80,000 into it for my down payment and the principal I've paid down. And now it's selling just with other sales around it. And I've looked it up on Zillow for about $440,000, $450,000. Okay. And she's got a mortgage on her place? Yeah. She lived in her place for 10 years. She got it for a great deal back in the day. Hers has worked more than double what it is now. But my thinking is if I get that $200,000 out, I've driven my car for the last eight years. I'm going to need a new one. I could buy that in cash. I could pay off the car she just got in cash and even pay off our mortgage in her house, and we'd be living free.

Yeah, I like John's plan more because, number one, you won't have two mortgages to keep up with. And you're not starting off your marriage as a landlord trying to get your $800 a month while you're probably spending 800 bucks a month to keep this thing afloat. Yes. Yeah. With all the other things I would build on. And plus, I haven't had a car payment for the last eight years. I don't want one. My car's on its last legs. I'd love to just buy my car in cash, pay off the extra 15 that hers is in cash. And even if not paying off her mortgage, I figure whenever the market starts to slow down again or something i could still have another hundred and something of the bank to go out and get another one or two properties in the future okay hold on real quick you said you don't want

to go into debt that's like getting married and being like i don't want to cheat on you just don't never do it okay just don't ever go into debt right um i'm with george man sell the sell your rental property, pay your wife's house off. And she may be upset going, well, we could be making 9,000 a year off this thing. Yeah. And it could also be adding a whole lot of stress and it could cost you 10 grand a year. And so I think you having a real conversation, go on a date and say, hey, I think this is going to set us up so well in the future. We can pay down the mortgage. We won't have any debt. It's going to give us so much more options and I want to pay off our mortgage. And then one day we're going to do

a rental that's ours together and we're going to do it with cash. And quick math, what is your, what do you pay in, what's your mortgage every month? Just under 16. So if you don't have that mortgage anymore, is that like having some money in the house? Do you see what I'm saying? Oh, yeah. No, I mean, for the way the rentals are going around here, I could get somebody in it for around probably $25,000 or $26,000. They'd pay a month.

I thought you said $800,000 to $1,000,000. Yeah, I was saying the opposite there. But all I have to say is, yeah, sell your house. Sell it. Be debt-free, start your marriage. No, I meant $800,000 i meant 800 to a thousand as in i could get that out of it every single month like profit pay 16 yeah profit every month okay yeah i don't think the extra 10 grand is going to change your life i think what will change your life is selling it being completely debt free being able to throw some at her mortgage and you guys have a head start on this amazing new marriage

yeah i'm 100 i'm just more excited about that, just on an emotional level. Yes. On top of that. As two guys who are married and who don't own any credit card companies, it's a pretty awesome way to deal with a marriage disagreement, not also being pressured by Bank of America. Let's go to Mike in Scranton. What's up, Mike?

Hey, guys. How you doing? Nice to talk to you. You too. What's up, Mike? Oh, Jeff. Hey, guys. How you doing? Nice to talk to you. You too. What's up, man? Hey, I got a question. Almost when the last caller just mentioned about a vehicle. I'm just curious whether I should or could

be able to buy another used vehicle. I'm driving a Hooptie, quote that Dave says, for the last seven years. It's a minivan. It's almost 20 years old, over 200,000 miles on it. Nickel and diamond me and, you know, my two kids are teenagers now, so it's not cool anymore. But it still runs, you know, but I take it to the garage. It seems like every other month I get something fixed and repaired.

And I just got out of the garage because my window was broken. Hold on. You're giving me a very emotional plea to a math problem. Okay. That's it. Okay. Can you afford the car? I'm glad you're on the phone, John,

because I have trouble trying to separate my money. Well, you hate the car. I like to save money, but I'm afraid to give it up. You hate the car? Good deal. Can you afford it? What's that? Like what I'm looking for? Yeah. Can you go buy another car? How much money Can you afford it? What's that? Like what I'm looking for?

Yeah, can you go buy another car? How much money do you have right now in savings? Well, I was looking to spend maybe at least $15,000 to buy another vehicle, but in my area here, I'm trying to find something that's a little, for that price or less, with low mileage, like at least 100,000 to 130,000 miles. Yours has 200,000. 100,000 is low mileage to you. Yeah,000 to 130,000 miles. Yours has 200,000. 100,000 is low mileage to you. Yeah, man.

Well, I know. That's why I'm trying to find something worth about 100,000 to 130,000 miles. You can find something for $15,000 that doesn't have 200,000 miles. Come on. Do you have the money? That's the question. Do you have 15K? I have the money, yes.

I have the money. Hold on. Do you have a lot more money? I have money saved up, and that's another issue. But I also have a disabled son, so the reason we have a van was two wet kids, and then my son is in a wheelchair, so I can't just go buy a small car. I need to have something that I can put, like a small SUV type of vehicle. Okay. Let me press you a little bit.

You've had to deal with some hard stuff, haven't you? Yes. And my wife also passed away, too, from cancer about six years ago. So I'm single dad, too. So when I say you've done hard stuff, you have done hard stuff, right? Right. hard stuff, right? And you also know better than most of us that things can get really sideways real fast, right? True. Is your response, because mine is very similar, is your response to things to get sideways very fast, being really tight with your money?

Is that a coping strategy? Here's what I'm asking you. Can you go buy a $50,000 van that's relatively nice, relatively new, that would take care of your son's needs? No, I wouldn't do that. Not at all. You wouldn't? No, you wouldn't. I have the cash and the savings,

but I wouldn't want to do that because it's just too much money, just based off of Dave's theory. How much do you make a year? Like around $ too much money, you know, just based off of Dave's theory. So, you know, I'm- How much do you make a year? Like around 65, 70. Okay. All right. That's fair. So. I would challenge you to, like, man, I just hear myself in you.

I don't have a child with special needs, but I also have X number of dollars in the bank, and I still think, I bet I could get a car for 5,000 bucks. And at some point it takes somebody walking alongside me asking me, Hey, what are you trying to prove? Is it a scarcity thing? Is it a fear thing? Because you got the money to get something nicer. Um, that is going to be a more of a blessing for you and your family than buying a $15,000 car and just holding your breath until you got to sell it, right? And it just doesn't sound like you're in $15,000 car territory right now.

Is that fair? That's fair, yeah. Okay, and you're talking to a guy that drives an 06 with almost 200,000 miles on it. So I'm not a new car guy. I got an 02 and an 04. There you go.

So this is old car guy to older car guy. I got an 02 and an 04. There you go. So this is old car guy to older car guy. I'm telling you, if you've got the money and you're not going to be doing something irresponsible, which I don't hear that at all, I want to challenge you to give yourself a little grace here. Okay. Well, that's another, yeah. Well, I have the money, but that's another phone call to Dave or you guys ask about what should I do with that money. Because right now, I sold some property to get some of that money, and it's just in my savings account. So I'm like, I guess I'll wait until the tax season because I'm not sure if I'm going to get hit with the capital gains on that or not. I actually sold it for a little less than what I paid for it, so I'm not too sure.

But, you know, I'd rather put that money somewhere into investments like you guys recommend. But right now, I have it. Well, let's start with the short-term goal, which is get a better car. And if you can get a 20 grand car, that'll get you a 2015 instead of a 2012. But dude, you work hard, you've been busting it, it's time. You've been through a lot. And call one of our tax pros, go to RamseySolutions.com and check out one of our SmartVestor pros and our tax professionals, and they will get you lined up with the information. Because what you need right now, brother, is some information so you can have some peace. This is The Ramsey Show.

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