The Ramsey Show - App - Should I Buy a Plane To Save Money in Flight School? (Hour 2)

Episode Date: April 28, 2021

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Live from the headquarters of Ramsey Solutions, broadcasting from the Dollar Car Rental Studios, it's the Ramsey Show. Where debt is dumb, cash is king, and the paid off home mortgage has taken the place of the BMW as the status symbol of choice. I'm Dave Ramsey, your host. Thank you for joining us, America. We're glad you're here. Open phones at 888-825-5225. That's 888-825-5225. Tricia is with us in Detroit to start off this hour.

Hi, Tricia. How are you? I'm great, sir. How are you? Better than I deserve. What's up? Well, thank you, first of all. I owe you guys a thank you, you and Ken Coleman, because I called last year and got my dream job and making more money and much happier.

Good for you. That's awesome. I'm proud of you. Yeah. Thank you so much. So we are on steps four, five, and six. And I have a question regarding step six for pay off the house in conjunction with step five. So my children are six, nine, and 12. So obviously the 12-year-old is much closer to college. Is it okay, Dave, approved to pay off the house first and then just help them pay cash for college, or should we really just buckle down and 529 it

and all those other things to get them squared away for college? It's okay to kind of meet in the middle. So how much do you owe on your home? $139, or yes, $138. I'm sorry, $138. And your household income is what? I make $130. My husband makes $90. Math is not my strong suit. No, I'm sorry, 138. And your household income is what? I make 130, my husband makes 90. Math is not my strong suit, I'm kidding. Okay, 220, okay.

So 220. So you're approaching a quarter of a million dollars, and you have six years to pay off $139,000. That's $20,000 a year. $25,000. Yeah. You can do that and fund college, making a quarter of a year. $25,000. Yeah. You can do that and fund college making a quarter of a million. Okay.

If you want to pay it off faster, that's fine. Okay, so here's the thing. Doing nothing for college I would not suggest. Okay. Because you've got to walk in the room and look at those little sets of eyes looking at you, and that's just going to be messing with your brain. And so if you just simply say, all right, here's our plan. We're going to meet with a SmartVestor Pro, and we're going to put $100 a month per kid, $300, $3,600 a year, not spit out of $220, okay?

Mm-hmm. But we're going to get the kids' college fund started, and then we're going to plow in and we're going to knock out this house in like two, maybe three years. Yeah. And then we're going to lean into the 529s harder, and we'll be in a position also to cash flow college. Okay.

Assuming you do a good job of training your children on how to select a college that is appropriately priced. Yes. I mean, being that we're in Michigan, they're a little bit more costly here. Yeah, but I'm not talking about an expensive state school. I'm talking about $100,000 a year or something like that. You're not going to have that kind of money. I understand. And that's okay, by the way.

They'll survive, I promise. But, I mean, you can go to the University of Michigan on the plan we're talking about without any trouble at all, or Michigan State University, either one. Both great schools. Either one. Both have great curriculums. If they graduate from there, I'll hire, either one. Both great schools. Either one. Both have great curriculums, and if they graduate from there, I'll hire them either way. I went to UT.

It was very affordable. Yeah. University of Texas. Yeah. Yeah, well, I mean, it is. And Kelly's in here giving me hook-em-horn signs. That's right. And Deloney's not here.

He'd be doing some kind of disco dance right now. But anyway, even in that case, Michigan is not twice Texas. It might be 50% Texas, but it's not twice. So very affordable, very doable, but we're going to train them like we have to anyway, that they need a job while they're in college uh that they need to get really good scores on their act so they can qualify for scholarships because free money is always free and um and on top of that mom and dad are going to do a good job of saving money and on top of that mom and dad are not going to have a mortgage

by the time the first one gets there so we can even cash flow it. All right. Thank you, sir. Let me tell you what you're setting up. Let me give you a future prediction, okay? Just because you kind of got this thing right in front of you, and I want to pan back a few years. Here's what happened at our house. We did what you're talking about, only we weren't using 529s because they didn't exist then.

We just had UTMAs, meaning the mutual funds were just in the kids' names. Okay? So we had enough money to pay for our kids' college in each of their names by the time they got ready to go to school. And, of course, we were completely debt-free, and this Ramsey thing was kicking off. Okay? It was actually starting to be profitable.

And so we cash-flowed all three of our kids' college, and the pile of money that was in their mutual funds, we handed to them at graduation to start their lives off. That's awesome. And that jump starts that generation into being millionaires really quick. That's right. So that's what you're really setting up here. So don't overfund the 529 because I think you're going to be able to just put some money in their names that you hand to them after you cash flow their college because you'll be able to cash flow college.

Because, oh, by the way, we're talking about six years from now. You're not going to be making 220 anymore. You're going to be making 320. Yes. More than likely. Yeah, I mean, You're not going to be making $220,000 anymore. You're going to be making $320,000. Yes. More than likely. Yeah, I mean, your income is going to go up something. I don't know exactly what. But, I mean, that's very predictable.

And so will tuition costs. But you're going to be great. You have really thought this through. You're doing a great job. But doing zero for college while you're in four, five, and six, just do $50 or $100 or something just to start to get the muscle moving and it kind of allows you to emotionally check the box that i'm not a bad mom or something you know you're not but you see what i'm saying and it just helps you go that way good question jason's in kansas city hi jason how can i help? Hey, Dave.

How are you? Thanks for everything you do. We appreciate it. Thank you. How can I help? Well, quick question. Mortgage question again here. We have about $500 extra per month, and we're on baby step six that we can throw at the mortgage.

Good. I think I know the answer. Is it better to throw it at the mortgage and work that principal down, or is it better to think about investing that and using the interest and then, you know, 10, 12 years down the road for the armatization, paying it off at that time, using my money to help me pay that off faster. Yeah. In the study of millionaires that we did, studying 10,000 millionaires, we found almost zero that did your second plan. Almost all of them did the first plan, just pay off the mortgage. That's my answer.

And so what we're doing here is we're studying skinny people, and whatever skinny people do, if we want to be skinny, we're doing skinny stuff. And that's how it works. And so it's best practices is what we're laying out. And that's how also, as I've talked to, the way I put all these principles together a thousand years ago when this whole thing just started, you know, 30 years back, Jason, was I talked to old rich people, not young rich people. I had been him. He was stupid and lost everything. I didn't want his opinion.

I talked to old rich people and the things they told me were boring and didn't even sometimes hardly make sense. But they were just like, get out of debt, stay out of debt, live on less than you make, always be generous, always be living on a plan. You know, it's just common sense, only it's not common anymore. It's like having a superpower. This is the Ramsey Show. Our famous $10 sale is back. This time last year, a lot of folks got behind with their money, but this spring, there's hope. Our famous $10 sale can help you get control of your money and feel good about your future. Save big on over 40 best-selling books and budgeting tools

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When it comes to making big money or life moves like buying a home or getting married or having a baby, it's likely the last thing on your mind to make sure you have the right insurance. I understand that. Big changes are overwhelming. But what would be even more overwhelming is to find yourself in a situation where you and your family are in the hole because you weren't covered. If not having the time or energy is what's keeping you from getting the right insurance coverage, use one of our endorsed local providers or ELP insurance agents to help. ELPs are independent agents who find you the best coverage at the best price. All you got to do is text the word insurance to 33789, and you'll get a free quote.

Doesn't cost a thing. Text insurance to 33789. I'm Dave Ramsey, your host. Thank you for joining us. Open phones at 888-825-5225. Jeremy is in Columbus, Ohio. Hi, Jeremy. Welcome to The Ramsey Show. Hi, Mr. Ramsey. How are you doing today?

Better than I deserve. What's up? Thank you. It's a pleasure to be speaking to you. So my question today is I'm cash flowing my way through flight school, and I have $40,000 in my savings account, and I also have $20,000 in my mutual fund and another $20,000 in my 401K. And my question was, do you think it's wise for me to buy a plane to help me try and save rent money, or should I just continue renting and invest that money in something else?

Just trying to get your thoughts on that. Buy a plane. Yeah, it would save me. I pay like $120 an hour to rent for flight school. And what would the plane cost? I'd buy one for in between $30,000 and $40,000. Did you divide 120 into $30,000 and realize that's a lot of hours? I did, yeah.

Like, there's no break-even on that. Yeah. yeah however you know now the thing about a 34 30 or 40 000 airplane is is that that's a plane that's probably not going to lose a lot of value as a matter of fact since you're kind of hanging around this stuff all the time you might actually slip up and buy one way under market and make money on it is that possible that's what i was thinking as well yeah yeah i also didn't want too much totaling up and stuff that goes down in value well it's not yeah i don't i don't want you to either but we're not buying a two million dollar jet here we're buying a little single prop that's um exactly just to build something to build out yeah what's your household income

i'm single i'm only 20 i I make right around $70 a year. What's your car worth? $12. Well, you know, here's the thing. Again, I've got lots of friends that own planes and poke around airports and stuff, and planes are a real weird world, as you know. But that little plane there, if you could get one that was appraised at $40 and you bought it for $30, I would do it, yeah. But if you get one that's appraised for $30 and you buy it for $30, I wouldn't do that. I just wasn't sure if I should be putting my money in something else,

you know, in mutual funds, in more mutual funds, or if you think I'm okay to invest in something like that. It could go down in value, and it is still with your car less than half your annual income. Yeah, yeah. And so, okay, let's see. If we put $30,000 in a mutual fund and it made 10%, that'd be $3,000. If you put $30,000 in a plane that's worth $40,000 and you save all of the rental fees and then you turn around and sell it for $40,000 in a couple of years, and that's possible.

It is, yeah. Because of the way that market works. But now, again, the thing you've got to do is you have to have the emotional discipline to not get in an airplane fever and then just go buy something and pay what it's worth. Because if you pay what it's worth, this is not a good idea. You'd have been better off to put it in mutual funds. Right, and I would be paying with cash. I don't care about that.

I know that, but I don't care about that. My point is, if you don't buy it under market, $5,000 or $10,000, to where you can turn around and sell it at at least what you paid for it later or more, then the math doesn't work on this. You following me? Right. Yeah, that makes sense. So you have to steal one. Yeah.

And otherwise you don't buy it. So I'm putting the money in mutual funds and then i'm just going to kind of casually wander around a few airports and see if i can sneak up on an airplane that somebody needs to really sell bad and uh but if you don't if you and if you never find one that's okay just pay your rentals and you'll be fine yeah yeah i'm kind of hoping to use my mutual fund money anyways for down payment on a house. Then don't do it. That's fine. So, yeah.

You're the one calling me about buying an airplane, so I don't care. But, yeah, there's nothing wrong with that plan either. That's a great plan. And here's the great news is you're doing everything you're doing with cash, you're actually thinking about it, and you're making money while you're doing all this so you're not telling me uh i'm gonna go two hundred thousand dollars in debt to be a pilot which is a dumb butt idea okay uh so and because let me tell you as you know uh there's something addictive apparently about flying um as the pilot.

These pilots get, yeah, they're addicted. It's like being on radio. You know, it's addictive. So you got to be careful with it. Open phones at 888-825-5225. Mary is with us in Dallas, Texas. Hi, Mary. How can we help?

Hi. Hi. Thanks for taking my call. Sure. So, all right. My husband and I are starting to look into buying a house in the future sometime, and we've run into a unique situation. He is still on the mortgage for the house that he lived in with his ex-wife. They've been divorced about four years, and we discovered that it never made it into the divorce decree that she had to refinance that house.

We have talked to her about this. For a while she was saying, I'll do it, I'll do it, and then we get a call from a lawyer saying she doesn't need to refinance, and now she won't even talk to us about it, and she's saying she doesn't have to refinance. now she won't even talk to us about it and she's saying she doesn't have to refinance she doesn't want to get him off of there she doesn't because your husband's lawyer was a doofus well yeah he didn't even have his own that's a whole other story he was his own lawyer which is really proof he was a doofus okay so we are in a situation now where we were told by a loan officer basically that worse comes to worse.

We're going to have to take that as a debt when we apply for the loan. Yeah, it's a contingent liability for sure. And you can't make her, you don't have a legal grounds to make her refinance it. What's the balance on the loan? Last I checked, it's about $79,000. So it's not like it's a huge amount, but it's still a debt, and they're saying that... What is your household income? It is about $125,000 a year.

Does she pay the bill on time? She does. She pays it on time every single month. Okay. Do you know what the interest rate is? I do not. Your husband does. Or he can find out.

He's on the mortgage. He doesn't. Well, he can call a mortgage company. He can call them. He's on the mortgage. They can disclose to him all the details on the mortgage. So here's my only thought. You can't make her do it.

No. It's worth a couple thousand dollars to y'all for her to do this. So I would offer to pay her closing costs if she'll refinance. And she gets a better interest rate out of the deal and no closing costs. So you think it's worth just taking that bullet you don't have a choice okay you don't have a choice you can't make her do it right because the doofus is that signed this divorce decree he gave up ownership in the house but kept the liability it does happen all the time it's not that unique you said earlier unique it happens all the time because people don't think this through.

They don't think they're going to end up where you guys are, and everybody does end up right where you guys are. So you can either accept it as a contingent liability and forget it and not worry about it, or if you want to write a check for $3,000 and bribe her, and she's got a 4% interest rate now. It drops it down to $2,000-something 2 something and doesn't cost her a dime out of pocket maybe then she does want to do it but make a proposal that's logical give her a reason to do it to her attorney and maybe she'll get off a center

or maybe she'll just be an angry ex-wife and leave you right where you are I don't know this is the Ramsey Show. In the lobby of Ramsey Solutions on the debt-free stage, Johan and Shana are with us. Hey, guys. How are you?

We're very good, Dave. Thank you. It's a pleasure to be here. It's an honor to have you. Where do you guys live? We are from Maryland. In Maryland? Yes. All right.

Cool. And how much debt have you guys paid off? We paid off $20,000, Dave. Phenomenal. And how long did this take you? It took us 11 months. Good for you. And your range of income during that time?

We started at $60,000 and we ended with $63,000. Gosh, that's amazing. So what kind of debt was your $20,000? So $3,000 was a car loan and $17,000 was a credit card. Okay. All right. So you're just kind of normal how long you guys been married one year and four months today all right congratulations thank you and so right after marriage you decide to attack this debt tell me the story so it was october 2019 October 2019. We were engaged in getting ready to get married in December. And I went to a bakery because I really wanted to buy cinnamon rolls for our Young Women's Discipleship Group.

I was already $11,000 in credit card debt at that time. And I walked into this store knowing all this and the cinnamon rolls was $11 and I knew that I had a conflict between what I wanted to do versus what I had resources to do. And so at that moment when I bought the cinnamon rolls, I cried out to God and I said, Lord Jesus, I have a bad relationship with money. So I went home and I looked up online how to reheat the cinnamon rolls. And I found a blog called Stacy at Humorous Homemaking. And she taught me how to reheat the cinnamon rolls. But on the side, she had an article that says,

We Live Debt-Free. And I clicked on that link, and I read all about it, and I found your plan. Oh, my gosh. I never have gotten anybody through cinnamon rolls before. This is my favorite ever. I love cinnamon rolls. Me too. This this is great i like them even more now this is great wow so way to go what's the guy's name what's that stacy you said yes stacy at humor

is homemaking all right way to go stacy thank you that's awesome. Very cool. So you called up Johan and said, we're going to do this. Yes. What did Johan say? I just said, okay. Whatever you want to do, dear. You learn quick. I think, yeah, I'm glad she told about the depths. Yeah. because if I didn't know about deaths until a long time, it would be hard to spend marriage life, I think. Yeah, yeah, absolutely. Yeah, you don't want to keep secrets.

You need to know what's going on. That's very wise. So was all of this yours then, Shana, coming into this marriage? Yes, it was. Johan had none? That's correct. So he got you and the debt. Yes, he did.

And then the two of you, your first order of business is roll up your sleeves and knock it out. And no more debt. How does it feel to be free? Amazing. So did your relationship, did Jesus answer your prayer, your relationship with money changed? Absolutely. Yes, he gave us a plan. He knows our hearts.

He knows we want to give. And he gave us the plan in order to be able to do that and how to give generously. So we thank you. Wow, you're incredible. I'm proud of you guys. Very, very well done. What do you tell people the secret to getting out of debt is? I think we make budget and we plan a lot of things in budget.

It's helped a lot, I think. Yeah, having a game plan. Yeah, because when we went to a grocery store, we just buy something, what we want, but it's not good for saving money. Right, right. Yeah, having a plan and sticking to it. Yeah, I also think that the key to getting out of debt is your relationship with God because when we follow what he convicts us to do according to his word,

then he just provides everything. And it's like I had to really wrestle with tithing. And when I obeyed God's word, he just gave us money month after month after month in addition to our salary. And it was incredible just to see watching God work through getting out of debt.

And not only did he give us the ability to pay off all of our debt, but he also gave us the ability to fully fund our emergency fund and invest 10% of our income in retirement for the year 2020. Wow.

God is good. Wow, you guys. Well, you had a plan, and you did it. So what is the secret to heating up cinnamon rolls? I think you have to put them in the oven. I forget the degrees, but I think it's about 20 minutes. Okay. 350, I think. All right. My mouth's kind of watering right now i'm just saying well congratulations you guys we're very very proud of you we've got a copy of the legacy journey book for you which is my latest and it'll

take you into the next steps of the whole baby steps process and on through uh completely changing your legacy and you'll enjoy it. It's written from a uniquely Christian perspective. And also I'm going to give you an extra copy of the Total Money Makeover book so you can give it to someone who needs this help. Thank you. Because someone's been inspired by you. It's in your life, and this will give you a way to pay it forward. So, excellent.

Thank you. Good job, you guys. I'm so proud of you. Well done. All right. It's Johan and Shana from Maryland. $20,000 paid off in 11 months, making $60,000 to $63,000. Blame it all on the cinnamon rolls.

Count it down. Let's hear a debt-free scream. We are debt-free. This is how it's done. Woo! You just never know when you're sharing what's happening in your life how it's going to show up in

someone else's life. Pretty amazing. Find out for yourself why Blinds.com is the number one online retailer for custom window coverings. They're the sponsor of our question of the day. You'll get free samples, free shipping, and with the new promos they run every month, you'll save even more. Use the promo code Ramsey to get the best possible deal.

Robbie's in Michigan. The new monthly child tax credit was recently announced. Is it best to opt in or opt out of this? I'm not aware you could opt out. I think it's just tax law if it comes to opt in or opt out of this? I'm not aware you could opt out. I think it's just tax law. If it comes to play and if it passed, I missed it. Maybe it did pass. But it may be just something that you've got in Michigan too, Robbie.

That may be why I've missed it. But anyway, if you can opt in and you get a tax credit and there's no expense to you later, it doesn't come back to bite you later, then you would opt in if you even have the option. Very few tax laws give you the option to opt in or opt out. So honestly, I'm pretty ignorant about what you're asking about. So I think I'm screwing this answer up. But anyway, open phones at 888-825-5225. So the point of the debt-free scream is to let all of you guys know that it does not matter what your obstacles are. It does not matter what your income is. It does not matter what your income is. It does not matter what your situation is.

There are now thousands, thousands of debt-free screams on the YouTube channel. I can promise you one of them is just like you. Very similar to you. And what that proves is that you can not only get out of debt, but you can enjoy the benefits of being out of debt, which is the ability to build wealth, the ability to be outrageously generous, which is tough to do when you're broke people.

Turns out that hungry kids are very seldom fed by hungry kids. This is the Ramsey Show. Thank you. Thanks for joining us, America. Luther is with us in Athens, Georgia. Hi, Luther. Welcome to the Ramsey Show. Hey, thanks so much for taking my call. Sure. What's up?

All right. So I'm in baby step number two. I only have $8,000 left on my car note, and I'll be debt-free. My situation, though, is pretty much this time last year, I actually got a divorce, and I got sole custody of my now two-year-old son. Um, and so right now, uh, I'm working a job that's pretty much a dead-end job. Um, I make 24,000, uh, I made $24,000 last year. Uh, I started up a, uh, a business that I'm super passionate about, and it's around fatherhood and promoting fatherhood. But right now I'm at a point to where where I'm living at right now,

I'm not paying rent. It's just a friend being a friend and helping us out. But they're looking at selling this property. And me being a single parent, I'm not in a good spot to go out on my own without getting this business running. But I've been so afraid to get it going. I haven't even gotten the inventory for it. I've just done the initial startup of it. So I'm wondering,

should I focus on carrying the baby steps out all the way to, uh, to ending my debt, or should I focus on building up this business? Wow. How old are you? I'm 28. You got family in your area there, or who's helping you with your child? I've got one aunt who's in the area, and she helped out a lot, probably more than she could probably handle, and I'm so thankful for that. But the friends that are giving me this place,

they actually have another place down south, and I know you're really strong against long-distance landlording, so I don't want to put them in that position. And I'm super grateful for them helping me out, but I don't want to overstep my welcome. Well, it's good that you put together a sustainable life without free housing that's being given to you out of someone's heart uh on the short term that's a wonderful gift and you know it's good for you to accept that gift on the long term you you're smart to say you're wise to say, I want a better plan because it's not sustainable to live that way.

And so, okay, if you were to get the business moving, is there not some way you can go ahead and start now? How much money do you need to start it? Why do you need a bunch of money? Just do it. I guess I've just been afraid uh i've been building up my emergency uh savings uh because of me knowing that i only have a limited time here yeah you don't need to pay any extra on your car right now you just need to pile up cash so what do you need to buy to get to make money in this business?

I need, it's probably about right under $2,000 to actually start making sales, to get inventory in. And how much do you have saved? $5,000. Okay, so why can't you start it with $1,000? I can. I can cut back on the products that I want to launch, and I can launch two or three instead of five or six. You're launching them online? Yeah, that would be the plan. Okay, so someone sees your product online and orders it.

Right. How long does it take to produce these products if people ordered more than you had in inventory? It would be about two weeks would be from production to getting it in hand and shipping it. Okay. All right. So if you put on the website delivery in two to three weeks, that would be telling the truth, and you could buy a limited number of items. In other words, you don't have to have a full stock

if you can do a two-week turnaround, right? Yeah, that's correct. Okay. Well, let's get that going tonight oh okay i mean you don't you you know five hundred dollars worth will get you enough to get the website going right and then you just anybody that order something you reorder every two weeks you use their money to build it from there right uh yeah that's correct yeah can you order one-offs? I can, but it just wouldn't be.

Yeah, it would be more expensive. I'd carry more overhead for them instead of bulk orders. No, you'd carry more cost of goods sold. Right. Yeah, and so you can't afford bulk orders, dude. You're broke. Yeah. And you don't want to order bulk in something that you don't even know if it can sell yet. Correct. So you want to limit the amount of stuff you throw away when you launch a new product.

Because one thing's for sure, launch a new product, you don't know what you don't know. Right. You're going to learn some stuff in this process. Believe me, I've done a bunch of what you're talking about doing. And so it's going to go slower than you thought you would. So in the meantime, let's also look for a better job. Okay. Yeah, I can totally do that.

Yeah, because your job's not much. I'm looking for an excuse to do that. Yeah. Yeah, I mean, you need – because, listen, if you could get a job making 40, that would change your world. Yeah. Yeah. Yeah. Right now what's kind of holding me back is in the area that I'm in,

it's so rural that not a lot of places are really paying that much. But I can definitely start looking out further well let's try this okay if you found a job making 50 000 and it was not in the area that you're in you would move yeah i would and you could afford to move right so um you know let's move to town. All right. Yeah, I'm good with that. Because this business, unless you just hit a nerve and the thing just goes zoom, zoom, which very seldom happens, most things move.

They burn slow. They don't burn fast. It takes a little while to get things moving. You adjust the product. You make it a little better. You change the design a little bit. And every time you do it change the design a little bit and every time you do it sells a little bit more a little bit more a little bit more but very seldom do you just launch a singular thing and it becomes a huge massive hit the one thing it's that's just very very unusual in business and so as you adjust this product and get it to where it's where it's really selling like crazy. It may take you 18 months to two years.

Meanwhile, you're starving to death and going to end up homeless. Right, right. Yeah, so I want you to get some stable employment under you. Check out Ken Coleman's website. He can help you a bunch with that. I'll send you a copy of his book, The Proximity Principle, to help you begin to think about a different, even if it's a short-term career so if you work a new job that's a better job that pays double what you're paying now uh which is still not an ultra high paying job by

any stretch of the imagination um you give yourself the financial patience to raise your child without worrying about being hungry and to be able to run this business without having to live out of the business for a little while. And it keeps you from making desperate choices in the business, and it'll move you in the right direction. So, hey, man, you got a tough road, but you're a strong guy, and you're going to do this. You're going to figure it out because you got a lot on your plate, no question about it. But I think you're going to do this. You're going to figure it out because you've got a lot on your plate, no question about it. But I think you're going to make it. I think 10 years from now, you're going to look back and go, wow, those were some tough times, and I learned a lot during those times.

Our thanks to James Childs, our producer, Kelly Daniel, our associate producer. I am Dave Ramsey, your host. We'll be back. Have a friend or family member that needs a daily dose of Ramsey advice in their life? Let them know about the Ramsey Call of the Day podcast. It's a quick hit of advice about life and money in under 10 minutes. Check out the Ramsey Call of the Day podcast wherever you listen to podcasts.