The Ramsey Show - App - Should I Get Certifications or a Master's Degree? (Hour 1)

Episode Date: October 16, 2020

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Live from the headquarters of Ramsey Solutions, broadcasting from the Dollar Car Rental Studio, this is the Dave Ramsey Show, where America hangs out to have a conversation about your life, your money, your career, you name it. And my name is Anthony O'Neill, and joining me today, co-hosting together, is my good friend, number one national best-selling author and probably the best career expert in the world, the Dr. Ken Cole. Wow. Wow. I feel really good. I need to record that and then play that when I walk into my house, see if my wife and kids

will be more impressed. Thank you, brother. Good to be with you, man. Good to be with you, Ken. You're also a number one national best bestseller and host of the very popular anthony o'neill show part of the ramsey network blowing up on youtube yes sir you're having some conversations over there now we all are man yeah it's good stuff we're hitting people in different areas of their life together bringing hope yes sir and today ken and i want to give you

hope if you have any questions give us a call 888-825-5225 888-825-5225, 888-825-5225. And I enjoy talking with Ken because we have fun. So we're going to go out to Ann Arbor and have a conversation with Mitchell or Michelle. Which one is it? Mitchell. Hey, Mitchell. Mitchell, how can Dr. Ken and I help? I'm saying Dr. Ken, but he's just Ken. I he's actually not a doctor but i'll go along with it how can we help man yeah so last um

last august of 2019 i went in for an er visit when i spliced my finger open um and they neglected to take my insurance while i was at the appointment and And a couple months later, I got a bill in the mail from the hospital with a balance. So I called them and gave them my insurance information and got all that taken care of. But they neglected to tell me that I also needed to follow up with the physician to clear that bill too. And I never got any phone calls or letters in the mail from the physician. But just yesterday I received a letter in the mail about it's now been sent to a collections agency. And I'm in baby step two. I got the bill is $1,000, so it's kind of a lot of money to me right now. And I just am not sure about what the next steps should be for me taking care of this.

That's kind of frustrating that they didn't take your insurance while you were there and the physician is not responding. I would definitely, first off, Mitchell, reach out to the physician And say hey listen I'm getting a bill In the mail I just want to make sure that my insurance Covered your portion And then Mitchell you would have to be responsible for Your portion but we need to Make sure that the physician and the doctor's Office the insurance company

Is covering their position have you jumped on The phone with your insurance company I have not done the insurance Company yet I called the debt collector And they told me that like Have you jumped on the phone with your insurance company? I have not done the insurance company yet. I called the debt collector, and they told me that, like, seeing it's been over a year, it's too late to go through insurance and that they just need their money now. I wouldn't say that.

Right, Ken? Yeah, well, first of all, you getting advice from the debt collector on what your next steps are is not where we want to go. That debt collector, A, doesn't know anything. B, doesn't care. I think Anthony's right. I agree with Anthony. I'd get on the phone with the hospital instantly. Instant.

And you're going to talk to the billing department first is where you're going to go. And certainly you want to call the doctor and or if the doctor's got a head nurse just so that everybody's aware of, hey, so this just happened. And I would not worry about collections. I understand that when you get a call from collections, it creates all kind of anxiety, and that makes sense, and I get it. But you don't have to do what collections tells you, and if they keep calling you over the next days and weeks, which they will, while you try to get this clear with the hospital,

you just ignore them and don't answer the call. This needs to be resolved, and I believe it will be resolved, but I would start with the hospital instantaneously. That'd be the next phone call after this one. Absolutely. And Mitchell, too, I want to recommend as well, send them a cease and desist letter and tell them that you're going to get to the bottom of this yourself. Once you square off with the dog team, with your insurance company, and they tell you exactly what you owe, then you'll reach out to them because you're going to add that to your your debt snowball and if you have a balance of 300 so you need to pay that 300 uh but first and foremost uh go and

have a conversation with them um bill collectors can i just i just i don't like them yeah well they you gotta understand they don't have any true authority over you. Right. Dave has gone at length about this over his time here on the air and shared from his story. But it's natural. It's understandable. It's a scary thing. It doesn't feel good. But, yeah, no more conversations with a debt collector at all. I totally agree.

King is in Detroit, Michigan. King, good afternoon. How can Ken Coleman and I help? Thank you very much for taking my phone call. My phone call, thanks. So thank you very much. Yeah, you're welcome. Thank you.

So I'm kind of looking for maybe just some career advice. I'm 32 years old. I'm self-employed. I run a restaurant. I'm inherited from my family. It's pretty much through the whole coronavirus. And plus, I'm planning to get married, and my fiance doesn't want me to keep working in a family restaurant just because I'm a workaholic. I'm planning to go looking to go get my MBA or to look into like, uh, just try to get a little bit steadier, uh, job just because I know that I work in a commission or sales job. I work like I'm working in the restaurant business.

That's just how I am. So I want to try to find like a more steadier office job where I'm getting a steadier salary job. So what do you, what do you make right now? I make about 70, 70 or $80,000 right now. Um, and, but, and then that doesn't mean like I, the restaurant pretty much covers all my grocery, a lot of my expenses just because my accountant has everything written off. Do you have an idea of what you really want to do?

So I went to, I have my finance degree and also an international business degree. I'm looking at maybe focusing maybe on like online certificates where it has to do with data analysis, just because I'm noticing the trend of that's where it's going. And I'm seeing these certificates for $2,000 or $3,000, and then I'm looking at MBA for $30,000 or $40,000. And I just don't know, is it worth investing? I've saved so much, and now I know I'm 32 years old, and I'm going to be reentering the workforce, and I'm going to plan to start a family. I just don't want to be starting at $30,000, $40,000. I want to make sure I'm able to. Well, listen, I'm going to plan to start a family. I just don't want to be starting at $30,000, $40,000. I want to make sure I'm able to.

Well, listen, I'm so glad you called. But again, the answer to the question is, is the MBA worth it, comes down to the application to what is it that you really want to do. So my position, I think, is going to answer your question because I'm not sure that you're 100% sure that you know what you want to do. But if the degree, whether it's an undergrad degree or a graduate degree, if it is not one of two qualifications that I'm about to give you, then I would not pursue it. Number one, it has to be the only way to get where you want to go, meaning they require an MBA.

There's no way to get there absent of this master's degree, whether it's an MBA or not. And then the second qualification, is it the best way? So is it the only way or the best way? Very simple. And if the answer to is it the only way or the best way, if the answer is no, then don't do it. Because those certifications, my man, specifically in the technology world, Anthony. You don't need that. They're looking for raw skill plus the certifications that you can get for $2,000 to $3,000.

But I think that analyst role, I want you to do some more homework. Talk to some people who are doing the work that you're thinking about. It's part of the proximity principle. Get around people that are doing what you think you want to do. And let's figure out if, in fact, that is the case. If it is, those online certifications are just as valuable. Pass on the MBA. Absolutely.

And, King, you may need to pass on this young lady of yours. If she don't support you and your dreams, you've got to kick her goodbye. That's just my thoughts. This is Dave Ramsey Show. Families all over the country are discovering a faith-based and budget-friendly way of meeting health care costs, whether they're anticipated or completely unexpected. For example, take the Olcheski family from LaGrange, Texas. Jeff and Carice had just celebrated the birth of a new baby boy. Shortly after, they had another expensive medical issue come up.

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visit chministries.org. That's chministries.org. CHM is a proud sponsor of Dave Ramsey Live Events. 888-825-5225. This is the Dave Ramsey Show, and Ken Coleman and myself, Anthony O'Neill, are co-hosts of the show today. And we would love to have a conversation. And so we're going to jump on out to Dayton, Ohio, and have a conversation with Megan. Megan, good afternoon. How can Ken and I help?

Hello. How are you guys? conversation with Megan. Megan, good afternoon. How can Ken and I help? Hello. How are you guys? I am Megan. I'm 24 years old, and I have a question. So I have decided that I want to go back to school, and because of being laid off, it really helped me decide what exactly I want to do, and I do have to get a math degree in order to

acquire the skills for it. So I currently have my emergency fund in place. And I am hoping to bulk up my savings to cash flow my graduate school. Now I plan on going to school in fall 2021. And because it's kind of so far away, I don't know where I'm going yet. So I don't have an exact number on the cost of school. So my question is, while I'm saving, just bulk saving, should I also be contributing to my retirement? And I'm guessing you're saying baby step number three you have a fully funded three to six months of savings correct correct yeah all right so you're 100 debt free you have a fully funded emergency fund and right now you're on baby step number four five six and seven all simultaneously

at one time I do not want you to stop contributing to your future for the possibility of a present. OK, because you're saying right now and correct me if I'm wrong, Ken, if you hear something different, you're saying that you don't know if you are going to be going and where you're going to be going. But here's one thing we do know. You are getting older and you want to retire. And so right now, time is your best friend when it comes to investing into your future. So I want you to invest into your future. But at the same time, if you're saying, and I think Ken can speak more into this, that you want to go off to college because your career has to have it. Well, we got to figure out how do we go after that

without delaying and stopping you from building on your future. So no, from the money side of things, no, do not stop investing into your retirement. Yeah. Megan, what do you want to do? What's the position you're pursuing? I want to be a data scientist. And so what are you believing or what do you know for sure that you need to get from a degree standpoint to be that data scientist? Yeah, I mean, most people have a master's degree within the field, but I need to learn coding languages. So R, Python, brush up on some SQL, as well as understanding more so of the information technology background of machine learning and AI. All right.

So this is not a setup question. This is truly from my own ignorance. Can you get those learnings that you just listed off? There was about five, six, or seven of them I felt like in there. Can you get that knowledge via either community college or online certifications and programs like that yes or no i think so um honestly i haven't really i haven't honestly looked into it because um i would also i would love to continue my education i'm someone that would like to invest in also getting a master's degree all right but here's deal. But here's the deal.

I know that you're set, and I'm not anti you getting a master's degree. However, the answer that you gave me was you don't know. I want you to know because here's why. Let's say that you can get all of them or five of those. Let's say it was a list of seven. Let's say you can get all of them via online certifications. I know you can learn the coding without getting a list of seven. Let's say you can get all of them via online certifications. I know you can learn the coding without getting a master's degree.

You know that. So let's say you learn all these things. And it gets you in the field. And so let's say that it gets you in the field and you're making the same amount of money you are now in the day job or maybe even more. And you get in the field and you're getting great experience plus the relationships. And you're making more money and it's taking a little bit more time for you to save up. And as Anthony told you, you haven't stopped that retirement investing. And then you get to a point where you go, oh, I can actually cash flow my way through this master's program even easier.

So don't assume that the next step is the master's degree. I'm saying at least research whether or not the next step is getting the qualifications that you need that'll get you in the field, and then out of personal preference and maybe moving way up the ladder in that field, the master's degree makes more sense a little bit later. That's all I'm asking. I'm not saying that's the case. I'm just asking you to do your homework on that. Does that make sense? Oh, yeah, that does make sense. Yeah, that makes sense. All right, just do your homework, and whatever the answers are, I trust you. You got a great head on your shoulders, and we're really proud of you. You know, Ken, I'm glad you pointed that out,

because I was going to say it, and you said it nicer. Oh. You said, hey, do the research first. Yeah. And one of the things I found out, especially in writing the book Debt-Free Degree, that the reason why people get into debt over college is because they didn't do the research. Oh, everyone has a master's degree, so I have to have a master's degree. Well, no, you may not need a master's degree. You do need the education, but you don't have to get the formal education to become successful. Well, you heard what she said. She said most people.

Right. And then she said, so it's not everybody, so she acknowledges that. And then she said, and there's nothing wrong with any of this, by the way, but it's just proving your point that we have been marketed to as Americans since the 50s that a degree in higher education is the only way and the best way, and that's not the case in 2020.

It's not 1950 anymore. It's not 1960. It's not 1970. It's 2020. And then she said something. She said at the end, she said, well, Ken, it's something I really want to do. There you go. Okay, listen.

That's good. Fine. But, A, don't halt your retirement planning just because you really want to say, I checked the box of having a grad degree. Nothing wrong with that. However, I would doubt very seriously that that master's degree is going to actually get her all of that knowledge and qualifications any faster. In fact, it's going to be a whole lot cheaper to do it the way we suggested. Absolutely. I think it's a very good point. But I bring this up because we have been marketed to folks,

and you've got to understand that marketing works. I'll give you an example, Anthony. I love to watch sports with my kids at night. So we've had the NBA finals on, and we watch a lot of sports. And inevitably, during one of the commercial breaks, the No. 1 commercial type on TV right now is pharmaceuticals and so i'm sitting there with my kids and i feel fantastic before the commercial comes on commercial comes on and a very impressive voice comes on or maybe it's a lady voice or whatever man voice and it says are you feeling

tired do you have headaches are you restless at? And they list about seven other things, and I start going, well, gee, I think maybe I am. And then they tell me about this pill, right? Yeah. And they take their time, and they explain the pill and what it's going to do for us. And everybody sitting there has just been marketing. We all go, well, I got that symptom, and I got that symptom, and I got that symptom. Maybe I need this drug that I can't even spell, much less say it. And then at the very end of the commercial, guess what they say?

It's very slow. Do you have this? Do you have this? Ah, thanks to this pill, this will happen, and you can enjoy life and live better than your sorry, miserable life right now. But be careful. The side effects are, and they run through all these side effects. And it's like, wait, wait, wait, my lips might fall off? I didn't catch that.

So I say all that to drive the point home that we've been marketed to. Absolutely. For a long time. Absolutely. That college is the smart way to live life and do life. And if you don't go to college, well, you're just not as smart and you're not as successful as the rest of us. And Anthony, you and I both know from our own personal lives and the people we grew up around that that guy who's wearing the dirty overalls or he looks a little bit dirty and Lowe's is a multimillionaire, the millionaire next door.

And he is providing jobs, maybe 30, 40 jobs in a community. So you and I both are very much in sync on this. Yes, absolutely. Don't assume that college is the only way or the best way. And listen, America, we're not saying that college is not important. We're not saying that getting an education is a dumb idea. No, what we're saying is just be smart on how and when you do it. That's it.

You want to get a master's degree? Get your master's degree, but do it wisely. You want to get a master's degree? Get your master's degree, but do it wisely. You want to get your doctor's degree? Do it. Just do it wisely. Do not get into debt. Just to fit in with them. Okay?

Just to fit in. By the way, make sure you buy Anthony's book, Debt-Free Degree, because he actually tells you how to do it. Go get it. AnthonyO'Neal.com. You like that? I like that, Ken. Thank you,

man. I need to join your show one day. Right here. This is the Dave Ramsey show. so thinking of the last call made me think about investing can and i wonder how many of you all out there in america right now are stressed out or hurting because your retirement savings took a major hit this year maybe you were super close to retiring and now you're wondering if you should work a few more years to make up the difference maybe you weren't investing in the right things or you were investing aggressively

and you lost more money than you could stomach, which is why we recommend stay away from those single stocks. Or maybe you pulled everything out because you were scared and now you're wondering where should you go from here? So listen, check this out. If you're in one of those situations, one of these situations, I want you to know you don't have to face this pain alone. Now, more than ever, seek out advice of investment professionals. And I want you to really do this right. I want you to check out someone like our smart investor pros, and they're not going to tell you to invest into something dumb like gold or single stocks or this susu stuff they're going to spend time with you to help you with your current situations and to help set you up for

success so you don't have to let 2020 kill your confidence in your retirement i want you to text invest i-n-v-e-s-t to the to the number 33789 and find an investment pro in your area. Because never again will you face a global crisis alone. So I want you to text invest, I-N-V-E-S-T, to 33789. And I'm telling you, America, I'm telling you it works. I talked to my smart investor pro when the economy was acting funny, and he told me what I needed to do, where I should invest, what I should do, should not do. And I'm telling you right now, I like the way my portfolio is looking. All right.

All right. Well, you know, that's why, again, that word pro is on the end of that smart investor. These are men and women that our company has vetted tremendously. And, you know, Dave taught us this, and it bears repeating, that when you go to DaveRamsey.com and you find a smart investor pro in your area, find multiple men and women and interview them. Remember, it's not them interviewing you. And it's intimidating when you sit across the table or the desk from a financial professional. But don't be intimidated. You know what Dave says.

You know what we all say. And we're telling you when you sit with them, you interview them. You've got to make sure that you feel good about them. It's their chemistry, number one. Number two, do they say the things that you know Dave would tell you if you called here? And if you don't have a good feeling, walk away. They work for you, not the other way around. Yes, yes.

And make sure when you sit down and interview them, like Ken said, if they say something that is opposite of what we teach, call our office, shoot us an email, and let us know. Because anyone that teaches against what Dave, myself, Ken, Chris Hogan, Rachel Cruz, and all of our personalities teach, we need to know because they cannot and will not be working with us. So again, text the word invest, I-N-V-E-S-T-2-3-3-7-8-9. And I promise you, I promise you, you will love that decision. Emily is in Los Angeles, California, where I know the weather is better than ours today. Emily, how can Ken and I help? Hello? Hey, Emily. Hi. Hi. today Emily how can Ken and I help hello hey Emily I purchased plane tickets for my sister-in-law's wedding and of course it got canceled because of COVID okay so my mother-in-law had originally when I purchased plane tickets offered to gift Okay. it's been a few months and things have been kind of bad financially for my husband and I, but it's been going around the family that my mother-in-law is upset that we

haven't paid her back for the ticket, even though it was a gift originally. So I'm just kind of unsure of what to do about it or if I should still pay her back because it was a gift or I don't know. It's kind of a weird situation. Yeah. It's a tricky situation, Emily,

because here's the thing. She originally said up front, it's a tricky situation um emily because here's the thing she originally said up front it's a gift and then unfortunately you made the bad decision to say well we're going to pay you back so then that changed her expectations and then now because you didn't pay her back now you're saying well we need you to go back to what you originally said at least for right now and so what i i'm going to recommend that you stay true to your word okay okay and this is what i recommend to everyone you know when you get a gift from family members and i tell people this because i give i give my family members money don't say nothing take the gift because the moment you open your mouth and say you're going to do something, then I'm going to expect that.

So I'm giving this to you with the expectation of not getting anything in return. Now, if you and your wife or you want to pay me back, you keep that to yourself. And then when you have the money, just give it back. But right now it's a gift. So right now, yes, I do believe, Ken, that she should pay back her mother-in-law. Yeah, I would just call her up and say, hey, listen, I haven't paid you back yet. I know I offered and I am a person of my word and I'm going to do it, but I need to be candid with you. I should have called you earlier. I'm embarrassed because I think that's probably what's going on and and just say look I can't pay

you right now but I'm going to but I feel sorry that I gave you this expectation and it's been open-ended and it's just been left up in the air and I need to give you closure but it's been hard for me to say that things are a little bit tight but we're gonna we're gonna get it back to you and then come up with a plan to do it and do it yeah don't let it fester yeah don't let it fester because uh clearly she's talking to other family members and i and i and i won't say nothing there because well i'm gonna say something there i want you to have a conversation with your mother-in-law because you know she shouldn't be going around telling other family members y'all's business that's between you and her okay so i would have a conversation like ken say hey

let me first apologize for not being a woman of my word and not getting this money back to you this is our game plan this is where we currently are um and also can i ask you a question you know why are you going around telling other family members our personal business like don't don't put the word but behind it because then but was supersede that you all made a mistake uh but ask her the clear question i'm like hey how can we handle this like adults uh because my cousin my auntie my uncle they don't need to know our personal business it's between you and i so um i just had to put that out there you know i'm i'm a little you know i'm a little savage a little differently but it's all good i mean you know you're right this right. This is a tough situation because you got the, it's her mother-in-law.

Yeah. And it appears as though she had the conversation with the mother-in-law, not her son, excuse me, her husband, which is obviously the son in this situation. You don't ever want to come between the son and the mom, and that's already a weird dynamic. So anyway, I think that's what she does. And hey, you know what? Even if you can only send 1010 or $20 or whatever, some step of good faith is a nice touch in that conversation.

Yeah, I mean, yeah, send a $10, send a $20. And then any family member that comes to you, tell them to mind their business. I mean, just bottom line. Just mind your business. And this is one reason why I do not like borrowing or doing any type of business transactions

with family members. Because it just gets sticky, Ken. It gets really, really sticky. What is it about us? I thought what you said was really good because you really, I think nailed the real problem, which is the mother-in-law initially said, look,

I'm going to buy your ticket. And then because COVID and the wedding happened, this sweet gal, Emily, she's a sweet person. Sweet. Very kind, good person, high character. She starts to feel guilty. So then she says, and you made the point that, look, it was a gift. Yeah. I would have left it right there.

Yeah, but why is it that we as humans, because Emily's not the only person that does this. We all have this sense of, there's this guilt with family and money. Not me. And I think it's to your, oh, you. Well, but I think a lot of people do, though. They go, you know what? She gave that to us. It didn't work out.

I feel really, really bad. And so then we commit ourselves to something that we couldn't do in the first place. Yeah, I mean, she shouldn't have said that. Because if she didn't have the money then, she should not have said nothing at all. Yeah, I agree. She should have just gave it back. And I get America. We have a good heart and we want to be nice and we want to be loving. But at the same time, I think sometimes

we speak too quickly. Well, to your point, your greater point is money and family. It's tough. It's tough. I mean, it hurts family members. It starts arguments. It starts, I mean, I've seen physical fights within my family over money. Yeah, and some family members really do have an expectation of something, even though they call it a gift. See?

That's where you got to be careful. Now, that's the family member's problem. I agree. But that's why it's like, hey, I don't know if I want to take your money. Yes. I'm telling you, bro, you right there. You never know what they're going to do. Never want to do it.

Never, ever, ever. I agree to do. Never want to do it. I agree with you. Never want to do it. So I'm telling you right now, it is just a little interesting. You're listening to The dave ramsey show my name is anthony o'neill and co-hosting together uh is ken coleman and myself so we're excited to take your phone calls 888-825-5225 and let's have a conversation with matt in minneapolis matt good afternoon how can ken and i help hey there hey guys how you doing? Thanks for taking my call. Sure. Yeah. How can we help? Oh yes. So my grandma,

my dad's mom recently passed away here about about a month ago. Oh, sorry. And they've been, Oh, thank you. Appreciate it. And they've been cleaning out the house and everything, get it and everything in order to sell it within the next six months. Me and my wife, we've always loved going up there to see her and I've always loved my grandpa and grandma's house. But unfortunately, we are on baby step two. We are interested in the home of purchasing it

and my dad hasn't gotten it assessed yet, but believes it's around $240,000 with about $50,000 worth of work. But it seems like every time I bring it up to my dad about me and her, my wife being interested, he sort of shrugs it off, trying to change the subject, and knows that it is a lot of work. But I was just wondering, how do I deal with the situation? Do I go with the plan of the baby steps because I really like the house and I wanted to keep the house in the family because there's so many memories in that house?

Okay. Anthony, you want to lead? Yeah, I'm just trying to figure out how to... Let me ask a couple questions. Yeah, go ahead. So how much debt do you have left in Baby Step 2? Yeah. And then how long before you would pay it off

if you continue what you're doing now? How long? How much debt and how long? Probably $68,000 and probably take us three years. Okay, so you're $68,000 in debt and three years. What is the debt? About let's say $38,000 in student loans, $18,500 on a car, about $6,000 in medical, and then $3,000 on a credit card. Okay.

Yeah. Matt, and I'm trying to be sensitive because I definitely want to respect the fact that, you know, this is, this is your, your grandmother's house, man. And this is what you want. And you're emotionally attached to it. And on the practical side, you're not financially ready for this responsibility on the emotional side. I get it.

You know, this is my grandma. I grew up here. I came here. I played with my grandma. I get it. But played with my grandma. I get it. But you're married, right?

Yes. You have any kids? Yes, we have one kid, and his name is Six. Six years old, and you're married. Here's what I want to say. It's I agree with your father with kind of avoiding your question. I think financially right now you should focus on laying down a solid foundation for you and your kid. And watch this building memories for your family. You're creating memories.

How many other people are in debt in your family? How come you and your wife and your family can't create a memory of no debt? What can you start fresh yourself that your child can be like, man, my dad, my mom made some major sacrifices so that me, my kids, their kids can have a real good future because if you go there and you purchase this house so you're taking on 240 000 and you got to add on another 50 000 to repair it so that's going to slow down baby step number two then you really don't know what's going on in the house until you get inside the house and it's going to create so many other responsibilities and issues so what i'm saying matt is uh don't not to dream i'm not going to say do not dream what i'm saying, Matt, is don't not to dream. I'm not going to say do not dream. What I'm saying is let's figure out how can we get the 68K cut down quicker than three years.

What do you make a year? I'm curious. We make combined before taxes about 87. Okay. 87K. What kind of car do you have for 18.5? We have a Nissan Murano. Murano.

Okay. What's that worth? Probably about 14, 15? Yeah. Yeah. Right now we're upside down on the vehicle. Yeah. Do you own a home now or are you renting?

We are renting an apartment in my hometown of where my grandma lives. Okay. Got you. Got you. Or did live. I'm looking at how do we get out of this car, man, and just go buy something cash. That's what I'm looking at. You're looking at $87,000.

We can figure out how to get rid of this $18,500. You're already upside down on this Murano. How can we get out of that? Is that your only vehicle in the family right now no I do have a car because right now we can't have just one vehicle just because me and my wife we work opposite ships

opposite ships okay cool here's the bottom line you got to figure out how to get rid of this $68,000 quicker than three years okay I'm thinking if you can pick up some part time jobs extra jobs you can knock this thing out within two years figure out how to get rid of this $68,000 quicker than three years. Okay. I'm thinking if you can pick up some part-time jobs, extra jobs, you can knock this thing out within two years and you never know where your father may have a house.

And if you all are in a better position, once you get out of debt, you get a fully funded emergency fund. Then from there, you are in a better place to buy a home. But do not make an emotional decision today that will impact your financial future tomorrow. Okay? So that's what I'm going to recommend.

Yeah. This isn't the dad issue. And I know it feels like that to Matt. Well, my dad's not having a conversation with me about it. He's changing the subject. Yeah. Regardless of what's going on with dad, he's doing you a favor.

Absolutely. You're not ready for this house. You can't afford it. Don't call the Dave Ramsey Show and ask us if you can not do the baby steps. The answer is no. You need to do the baby steps. There's a reason why they exist. It goes one, two, three, four.

It doesn't go one, two. Well, maybe we'll play around with three. Let's just go to five for fun. Maybe we'll try seven. Then we'll play around with three let's just go to five for fun maybe we'll try seven then we'll come back no listen i get it your heart's invested in this house uh did you know what i it's hard to do this so i say this at 46 because i understand it you might actually get that house one day and i'd keep my actually get that house one day. And I'd keep my eye on that house.

But I would do what Anthony said. I would do what Dave Ramsey teaches. I would get financial peace. And then I would strike out and create your own memories and keep your eye on that house. Because eventually it might come back again. Or you might get to a point financially where you're a multimillionaire. And you can save up money and then stick a note in the mailbox one day and mailbox one day and i'll pay you 20 over list price and get the family back so i wouldn't give up on the dream but right now it's not time it's not time i agree you gotta walk away going out to colorado springs with tyler tyler real quickly uh within 30 seconds or less ask ken and i your question

hi yeah how's it going thanks for taking my call. So I'm on Babyset 3. I already have my three months, but now I'm shooting to get to six months. But I was just thinking about it. I still have a lease on my phone. Is that included in the debt snowball? Should I take care of that or is that really not a big deal? Are you borrowing money to pay for your phone right now? Are you leasing it? Yes, that is debt. That is baby son number two. How much is the phone? Okay. I think I owe like $600 more on it. It's about $40 a month. Cool. And how much do you have in your savings account right now? $3,500. Why did you lease the phone? I didn't start the plan when I made this decision. Okay. Yeah. Take out the money in your emergency fund.

Go ahead and pay that off. Okay. And then what you're going to do is just go ahead and put that money back into your account. Love the way you're thinking as far as getting into six months. I'm fine with that. How old are you, Tyler? I'm 28. 28.

And three months is $3,500 for you? Yeah, I have a very low overhead. What's your rent? $550. Oh, okay. Yeah, I like that. Dude, do the phone deal today. Just get it over with. You don't need to be paying for this phone at all.

So yes, go, go, go, go, go. It is a debt. Get rid of it today. And he's on his way. Good for him. He's on his way. Listen, America, don't lease no phone. I don't know. What are y'all doing? This new Apple iPhone just came out. You better not lease it.

If you can't afford to pay cash for it, do not get it. Leave it at Apple. Leave it at Verizon. Leave it at AT&T. Leave it there. Use your phone. When you can pay cash for it, then you go get it. But some of y'all, I'm going to be real with you, you don't even need it.

Get a flip phone. You don't need to be on social media. It's ruining your life anyway. Not yours, theirs. I know you love social media. I really do. I didn't say that, American. Ken Coleman did.

He said it right here on the Dave Ramsey Show. 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.