The Ramsey Show - App - Should I Sell My Car That’s Underwater? (Hour 1)

Episode Date: August 9, 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. Ramsey personality, number one bestselling author. Christy Wright is my co-host today as we talk to you about your life and your money. Her new book, soon to be a number one bestseller, is called Take Back Your Time,

The Guilt-Free Guide to Life Balance, and it is available on presale now. It will come out September the 14th, and she and I will be doing a live stream event on September the 16th on the same subject. So if you want to talk about life balance, you want to talk about money, you want to talk about anything, we are here for you. The phone number again, 888-825-5225. Lavelle starts us off in Raleigh, North Carolina. Hi, Lavelle. How are you? I'm doing great. How about you? I'm doing great.

How about yourself? Better than I deserve. What's up? I had a question for my car that I purchased, and I wanted to know if I should sell it or if I should just keep going, just keep going with it until it's paid off. When did you purchase it? So I purchased it probably about four or five months ago.

Okay. And what do you owe on it? I owe $18,000. What's your household income? $45,000. Are you married? No, I'm not single. Okay. Is that your only vehicle? Yes, sir, it is. How much other debt do you have other than your house? I have about $7,000 left in student loan

debt and $1,000 left at my credit union for a personal loan. Okay. Well, Christy, here's the principle that we always use on this, okay? A car, Lavelle, is the largest thing we all buy that goes down in value. Another way of saying that, it is the largest wealth destructor in our lives. It destroys more of our wealth than anything else. Does that make sense? Yes, sir. Because it's the most expensive thing we buy that goes down in value. I mean, if you buy a $1,000 TV and four years later throw it in the backyard, no big deal. It didn't change your life. But when you take a $25,000 car or a $20,000 car and turn it into a $6,000 car, which is what they always do, right, then you have destroyed a lot of wealth dollars-wise.

Does that make sense? Yes, sir. And yet we all love cars. I got cars. I'm a car guy. I don't want everybody to drive a junker the rest of their lives. But you need to understand that ratio-wise, the more crap you own that goes down in value, the harder it's going to be to become wealthy.

So based on that idea, the principle that we developed or the concepts that we developed are two. Number one, can you be 100% debt-free, not counting your house, inside of two years and keep the car? This is assuming you love the car and are willing to fight, scratch, and claw to keep the stupid thing. Do you, Lavelle? Do you love it? and are willing to fight scratch and claw to keep the stupid thing do you do you love l do you love it um i actually don't i actually have a buyer for it um that that wants to buy it next week i've put it on the auto trader and why did you put it on auto trader um because i wanted to i wanted to get out of i wanted to get out of bed and maybe get a cheaper car. Maybe get cash for a car and go through my credit union. Okay.

And possibly get the loan to pay off the difference and, you know, maybe get a little extra to, you know, $2,000 or $3,000 extra to pay the car. Okay. Good. I mean, to get a cash car. Yeah, get you a cash car. Okay. That's a plan.

Go do that. Go do that. I think you've got a great plan. I don't want to stop you from doing your plan. It's a plan that I probably would do if I woke up in your shoes. Let me finish giving you the principles for the rest of our listeners' sake, and because you might apply them at some other point. Okay?

Number one, we have to be debt-free inside of two years or the car has to go. You could pull that off. It would be a lot of hard work, but you could pull that off. You've got $26, work but you could pull that off you got twenty six thousand dollars in debt you make forty you could work an extra job live on beans and rice rice and beans and be debt free in two years it could be done okay but you're not going to understand but i'm just saying mathematically that's doable the second thing is um is the is all the things that you own with wheels and motors because everything with wheels and motors goes down in value and again i've got a lot of stuff with wheels and motors i'm not against having it i'm just against it having you i'm against you being owned by this crap they all go down in value and

when you add them all up do they equal more than half your annual income if they do you have too much juice tied up in things that are destroying your wealth instead of building your wealth and so you know people call me up i'm making 75 000 a year i got a 50 000 truck well you might be a redneck if you know that's just that's just stupid and that principle applies whether it's uh paid for even if it's paid for is that what you're saying exactly yeah because because you got to you see lavelle you got them. You see, Lavelle, you've got things, you know, a $50,000 truck is going to be worth $25,000 in about 20 seconds. About 20 seconds. I mean, it doesn't take long at all. No one thinks about that.

About the fact that the car, I like how you just said that. Cars are the most expensive things we buy that go down in value. I mean, like when you say it, you're like, yeah, that makes sense. But no one looks at cars that way. They look at it like, hey, I got a raise. Let me go get a bigger car. They don't look at it as this thing that is two steps forward, three steps back when it comes to building wealth. And I think that's important.

I like that you pointed that out. Yeah, when you put $50,000 in the middle of the table and over a series of four years, you burn most of it with a match. Yeah. That's a problem. Yeah. four years you burn most of it with a match yeah that's a problem yeah it just for the unless you unless you make 150 000 then you can survive that but it's still a problem i mean i own cars that are expensive today yeah but just for the used cars i mean just for the new car smell that lasts about a month go get you some air freshener right yeah like losing that amount of money for a new car for that very short-term feeling when it dropped. I mean, gosh, it drops so quickly in value.

And Tom Stanley discovered this the first time I read it was in 1992. He wrote the book The Millionaire Next Door. And one of the things he discovered in his research of millionaires, which we have done our own research these days, but and that was the first time I ever heard it, was the typical millionaire drives a two-year-old or older car, because I had this thing that rich people all drive nice cars, and the truth is that a certain level of rich does, but until you've got a million dollars in net worth, buying a brand new car is mathematically stupid yeah now you can do it and get away with it but it's just stupid well even after you have a million dollars net worth

you still look at cars differently because the principles that got you to that net worth are the principles you want to maintain not to your point not that you can't get a new car but you're going hey i could get one that's two years old it's depreciated 50 of its value and i'm going to maintain the value longer yeah like i said i got i got several vehicles with boats and sea dues and you know for side by side on the farm and i'm i collect i'm yeah i'm like a grown-up boy you know i collect things that go budden budden you know i mean and so but but when i i'm constantly running that factor and going all of these things added together need to be a very small percentage of my world because they're all just sitting here rusting down to nothing money-wise.

Meanwhile, I could have taken that same money and put it in something that goes up in value, which would give me more to give and more to do with. Christy Wright, Ramsey Personality, is my co-host today. This is The Ramsey Show. It continues to amaze me how identity thieves keep finding ways to use our own identities against us. Not only do they commit crimes related to financial fraud, medical ID theft, and insurance benefit fraud, but now we have to deal with home title fraud. Thieves are using your own personal info to take ownership of your home so they can take out loans, and you end up with a pile of debt and foreclosure notices. Over 4,000 data breaches happened in 2018, exposing 3.6 billion records.

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But when it comes to a real estate market, feelings are not your friends. Facts are your friends. You've got to get people in your corner to help you with the facts because it gets really emotional when you're selling a home, buying a home. And when you're doing it in some of these markets right now that are absolutely white hot, it's crazy out there. It is not amateur hour. You don't want to get somebody in your corner that sold two houses and you're their third transaction. Good Lord. This is your most expensive asset. Get a pro in your corner that sold two houses and you're their third transaction. Good Lord. This is your most expensive asset.

Get a pro in your corner. We vet our Ramsey trusted endorsed local providers to be some of the top agents, high octane, high protein in your area. You can find the ones that we recommend and Ramseysolutions.com slash agent ramseysolutions.com slash agent jonathan is with us in cordelaine idaho hi jonathan welcome to the ramsey show hi dave hey what's up well um unfortunately my uncle passed away earlier this week. Oh, my. Sorry, I'm a little nervous here. That's okay.

I'm sorry to hear that. Were you close? Yeah. Yeah, I was. He was like a dad to me. Oh, man. Going through his paperwork and his will, it looks like he left me quite a bit in his estate. Total amount looks like it's probably going to be over half a million dollars.

I'm not exactly sure what to do with it. In cash or in what? Real estate, a home that's worth about $400 that he owned outright, and then the rest is, I haven't figured out exactly how much it is but it's at least a hundred thousand in checking account a pension and another retirement account. What do you make a year? About 65. How old are you? 33. Okay you ever handled anything like an estate before? I have with my mom but it it was valued at probably about $100,000, so it was obviously a lot less than this. Okay.

So you found the will then? Yes. Okay. So you've been appointed the executor of the estate. Correct. And you are the only heir? Correct. Okay. Okay.

So my advice first would be to contact a good estate probate attorney to probate the will and get you put in charge of each of these accounts as soon as possible by the court. Okay. And we actually did start the process on that, but we still have to wait for the death certificate. Yeah, it takes a little time, but I'm glad to know you're already doing that. Good. Okay. And, well, the emotion is real.

And obviously, you know, you guys were close. He was like a dad to you, and he obviously loved you a lot. He left you everything. And so what do you do with five hundred thousand dollars when it's set in the middle of your kitchen table all of a sudden and one hundred dollar bills what do you do with that well obviously we want to be wise with it um overall there's three things you can do with money you can give it you can enjoy it and you can invest it and those are the three things you can do and you really probably should do all three of those things with this money.

Now, we teach a thing called the baby steps, and so my son is about your age. If he inherited that all of a sudden, I would advise him, and he would already know because he's my son, to walk right up the baby steps with that money. And, you know, where would that take you? Are you aware of all of that? Yeah.

So I actually have no debt other than my house. Which you owe how much on? $159. So I was planning on writing a check for that pretty soon after everything's closed. Then that puts you at what we call baby step seven, where there's nothing left to do but build wealth and be generous. You remember that? Does that sound familiar to you?

Yes. Okay. Jonathan, that's an incredible place to be, but I know it doesn't feel like it right now. Yeah. I know you're hurting. I think it's awesome that you're calling and you're getting wise counsel on what to do with this large amount of money. You're already taking the right steps. You've already handled this before.

It may have been a different amount of money, but you've gone through this. And so I want you to lean on those skills and let that give you a sense of peace and confidence as you walk this out again. And then know as you do, yeah, you're in a really good position financially to do anything you want to. You're young to have this. What a gift that your uncle left you at your young age. You'll never have debt again, ever. I mean, that's an incredible gift and legacy that he gave you. And I know you're hurting right now, and it's hard to even feel that.

And that's okay too that's okay so one of the things i try to do um that i have done gradually i never got a uh in the early days anyway i never got a half million dollar check at one time come into my life but what i did gradually is I increased my knowledge by putting experts in my corner to teach me. And that's kind of where we came up with the saying with endorsed local providers or with SmartVestor pros, when you're meeting with people in the money space, you need someone with the heart of a teacher, not someone to boss you around. Because I hate it when people say, well, I couldn't buy a car.

My advisor told me I couldn't. I'm like, well, it's not your advisor's money, you dube. It's your money. You tell your advisor what to do. They just give you advice. And so that's just a cop-out, meaning I don't have enough. So I want you to have enough backbone to make your own decisions as opposed to that person I just outlined.

But I want you to put some advisors, some teachers in your corner. And so, you know, you do need to meet with a smart investor pro and learn about some investing options. What are your thoughts on the house? Probably not going to keep it. I mean, if you want to keep it as a rental, you can. I think it's going to be troublesome. I don't know if you're going to have the money with everything you've outlined to completely pay your house off if you keep it.

Number two, when you rent out your uncle's house and a renter doesn't take care of it one time, that's going to be very, very, very emotional. People don't realize that. Like when you move out of a house that you lived in and then you rent it out. Renters are even the best people in the world including when i was a renter it's not your house and it's just a weird feeling to go back in there and go oh look what they did to my little boy's bedroom you know it just does that to you you can't keep yourself from doing that so i doubt you're going to keep it if you want to fight to keep it that's fine as a rental i wouldn't keep it and it's sitting there empty as a museum to your uncle i think that's a bad idea but so you need a good insurance person

in your corner that's an independent insurance broker that can help you with all the different kinds of insurance you need in your life you need a good investing professional in your corner that you know like a smart investor pro that has the heart of a teacher and will lead you in each of those areas. You need a good tax person, a CPA. In this case, you've already engaged a lawyer to help you with the process. So all of these different experts in these different areas are to teach you something about that area so that you can make good decisions. They're not there to boss you around.

They actually work for you you're paying them and so they need to keep that in mind i've had to fire a couple people in the professions over the years that decided their job was to tell me what to do with my life instead their job is to teach me and then i get to decide what i'm going to do based on that knowledge with my life. They must not have known you very well. Well, I mean, well, I just... They must not have known that would not fly with you. No, that's probably true.

But, I mean, I remember, you know, well, it doesn't matter. But an attorney one time that was just telling us that this is the way this has to be, and I said, no, it doesn't have to be that way. I'm not doing it. And he goes, well, it doesn't have to be that way. I'm not doing it. And he goes, well, you know, and he just, the arrogance of it. And finally, I just said, look, I think we're done. What do you mean we're done? I said, I think you're fired because I'm not going to, I'm not here for you to tell me

what to do. I'm here for you to teach me and convince me that this is the wisest. And in the multitude of counsel, there is safety. That's what you want. You want a group of counsel in your life that will walk with you through this, Jonathan, and teach you, and that will help you keep from making unwise decisions. And, of course, the overall arching rule is don't take financial advice from broke people, including your broke friends, and they all have a lot of opinions right back. Christy Wright Ramsey personality is my co-host today in the lobby of Ramsey Solutions on the

Dead Free Stage. Matthew and Alicia are with us. Hey guys, how are you? Doing good, Dave. How are you? Better than I deserve. Welcome. Good to have you. Where do you guys live? We live in Washburn, just a little bit above Knoxville here in Tennessee. Okay. Awesome. Welcome to Nashville. Good to have you. And all the way here to do a debt-free scream?

Yes, sir. Love it. How much have you guys paid off? We have paid off $54,266 in 14 months. I love it. Good for you. Awesome. And your range of income during that 14 months? $60,000.

Okay. What do you guys do for a living? I'm a psych nurse part-time and a full-time mama. Okay. And I am a 4-H extension agent for the University of Tennessee. Awesome. Cool. Very, very cool.

I love it. Very fun. Well, welcome to Nashville, and congratulations. What kind of debt was the $54,000? We had a little bit of everything. We had a farm loan, a student loan, truck loan, credit cards. Furniture. Cell phone.

We can keep going if you want us to. You guys were normal. You had everything. Very normal. Never met a debt you didn't like. A wide variety. Had a pretty famous saying debt you didn't like. A wide variety. Yeah. Had a pretty famous saying, you can't have anything without having debt.

All right. And I might have been wrong. And went out. I might have been wrong. Ouch. Ouch. I took a real man to stand up on that stage and say that. I'm just saying, brother, that was good.

It hurt. I might have been wrong. That's a hard one. good for you well what happened what's the story for 14 months ago we'd better back up just a little farther um about six and a half years ago right before me and alicia got married my father-in-law or soon-to-be father-in-law, he offered to put us through Financial Peace University. And I was a pretty good commercial for Huggies, and I decided I was a big kid now. And I said, I can manage my own money. I don't need anyone to tell me what to do. So we tried that.

Of course, I shared with you how that worked out. But about three years ago, right before Madeline, our youngest, was born, we got to a point that money was getting pretty tight. Alicia was getting ready to go on a maternity leave. And she got to the point that she was hiding money because she knew if it was just sort of left out and around in the bank account, I would spend it. And so that got her attention a little bit. And she started paying off a few loans on her own she said i want to do this i said well okay you go ahead do what you want to i said i'm not going to stop you um but then just after that one of my 4-h volunteers that we work

with she uh she come to me and said i want to use one of your buildings that you all rent out um i said okay she i said what are you using it for and she said the financial peace university i said hey my wife would love to do that as a matter of fact her father said we should do that so so from there we uh we sort of got in line to do that and then just just after that she come back into the office and brought me the total money makeover book. And her husband had wrote a note in there telling us to sit down and read the book and to start with the last chapter. And so I did that over a bowl of Cheerios.

And, Dave, I had a meltdown. It's true that grown men do cry. And I realized the shape that I put our family in and the opportunity lost and i said we've got to do something um and that was in january of 2019 or 2020 oh just in time for coping time for covid and uh so we got our emergency fund then got our uh or got our starter emergency fund and then started in on the debt snowball come February. And 14 months later, we're done. Wow.

Wow. That's impressive. Yes. So lots of opportunity before you. Very little behind you that was lost. You're okay. Yeah. You got plenty of time.

You guys are heroes. You took control of your lives. That's right. That's pretty impressive. And you're young. I'm so impressed. Thank you. How old are heroes. You took control of your lives. That's right. That's pretty impressive. And you're young. I'm so impressed. Thank you. How old are you two?

I'm 27. And I'll be 33 in just a little while. All right. Very good. Well, congratulations, you guys. Very proud of you two. Thank you. Very proud of you two.

So I'm guessing, Alicia, your dad is grinning. Yeah. I'm sure he's listening. He came around. I'm guessing he's going, a little while but it got there yeah yeah that's good i like that little i told you so along the way that's fine well yeah you probably earned it that's okay that's okay and you're the kind of guy i can take it you're all right you're you're a you're a stand-up dude well done well done. There's something powerful about realizing that I've got a huge potential in my future,

and I've messed up. And how quickly you turned on that, Matthew. That's powerful, the way you told that story. Yeah. There's a little story behind that, Dave. I lost my dad three years ago to pancreatic cancer and uh he said something of course you know dads always say stuff they're pretty unforgettable sometimes it's taken the hard way um but he shared something in a hospital bed on how to

beat this thing this thing being cancer and uh my stepmother at the time she said how's that be really strong and fight hard he said no he said be weak just be weak and let god work and uh you know i had a lot of pride and i had to put my pride aside now and let a little weakness in so that god could work and that that's how we done it so i'm guessing that the last 14 months have been pretty impactful on your marriage as well oh yeah turned it completely around yeah that's so powerful what you just said though matthew because there are people lots of people like they're single girls out there going has this guy got a brother? Sorry, I don't. No, listen, there are a lot of people that do not have the courage

to realize what you realized and even say what you said. I was wrong. They'd rather stick to their guns, defend their mess, keep sticking to their motto of you can't have anything without debt and making excuses the rest of their life.

Yeah. And the fact that you had the courage to go, I was wrong. Yeah. And I'm going to do something different. You're now so young and completely debt-free, and you have the rest of your lives to build wealth and do anything you want to. That's incredible. And it came down to that moment and you having the courage to do that.

Well done. That's not easy. What do you guys tell people the trick to getting out of debt is? A lot of communication, good communication, and trust in your spouse. Amen. Budget's a pretty big deal. Knowing where that money's going is a pretty big deal. And, of course, we've done Financial Peace University with our church.

We facilitated that. Oh, I see. And, of course, we've done Financial Peace University with our church. We facilitated that. Oh, I see. Well, it was our honor. It was a pleasure to get to do that. But one thing we share with them going into it, it's not a money thing. It's a God thing. You let him control you, and he'll take care of the rest of it. That's good.

It'll fall in order. That's good. Very cool. And you brought the kiddos with you. What are their names and ages? Let's get them in the shot. We have Addison. She's five.

And Madeline, that's two. All right. Awesome. How fun. Oh, they're so cute. What a great trip. What a great trip. Very cool.

We've got a copy of Legacy Journey for you. That's definitely the next chapter in your story. You have changed your family tree in so many, many ways. I'm so proud of y'all. Yes, thank you. What a neat couple. And, of course, also a copy of the Total Money Makeover, and you can write in the front of it and give it away to somebody and get them going as well. That would be great.

Pay it forward. Very cool stuff. Again, very, very proud of you guys. Thank you. Very, very well done. Thank you. Matthew, Alicia, Addison, and Madeline just took off. North of Knoxville, over in East Tennessee where I'm from.

$54,000 paid off in 14 months, making $60 a year. Count it down. Let's hear a debt-free scream. Three, two, one. We're debt-free! We're debt free! Yeah! Yeah! Woo-hoo-hoo-hoo! Oh!

Yeah, you do this... I saw a sign, a bumper sticker this weekend that I hadn't seen before. God says U-turns are legal. I like it. So, yeah. So simple. When you're going the wrong way and you go and you turn and you go back the other way, in Christianity we call that repentance.

Yeah. But everybody else just calls it a U-turn. Yep. Whatever you call it. Sometimes we need it. So, I mean, Matthew, he slammed on the brakes. I love it. Did a slide into a donut and did a U-turn.

I love it. Powerful. Powerful. Christy Wright Ramsey Personality is my co-host today. Welcome to the Ramsey Show. Common sense for your dollars and cents as we talk about your life and your money. Elisa is with us in Atlanta. Hi, Elisa. How are you?

Hi, Dave. Hi, Christy. I'm doing goodian doing good how are you guys great how can we help um so my husband and i have been following your plan for a while but we in the last year two years have become self-employed and we've really had like an income problem trying to keep cash flow going. So even making progress on paying off our debt has been difficult. We're in a situation right now where we've had some medical bills come up that have increased our debt. We also didn't, because of the cash flow issues, didn't have enough saved up for taxes for 2020. So we, you know, set up a payment plan with the IRS and all that and want to get that out of the way. But we're also trying to make sure we save up taxes for the coming year properly.

And I know that you say, like, Baby Step Zero is basically is basically like getting current on all your bills and not going into any more debt and that sort of thing. So I've been just a little confused on what order I should be attacking these things in because these medical bills are technically current. But we also don't have the money to pay them right now. We had like a couple of emergencies. What's going on with your business? What do you both do and what do you make? But we also don't have the money to pay them right now. We have a couple of emergency rooms. What's going on with your business? What do you both do and what do you make? My husband has a video production business. Right now he's primarily doing some video editing freelance work as that.

And then I have a proofreading freelance. You have a what freelance? Proofreading. Proof freelance? Proofreading. Proofreading. Proofreading. Okay. And what do y'all make combined? Last year, our income on our taxes was a crud.

I just forgot. I think it was about $32 000 um or probably less than that yeah what what did you do before that sorry how many kids do you have how many kids do you have it's just the two of us okay what did you do before this you said we recently became self-employed what did y'all used to do that and what's the story there uh so last year actually in the middle of the pandemic my husband launched his video production business uh and that was a good move because before that he was working a pretty low-paying server job uh i was uh full-time employed as a proofreader and and then I've done like some Uber Eats driving and stuff since then

and one other W-2 job for a few months this year, but that ended up not working out. Yeah, you know what? I'm calling BS. I'm calling BS. Your husband made more as a server than he did in the video business. It was not a good thing. not a good it was not a good thing it was a good thing in that servers disappeared during covid but in terms of he

launched into he didn't exactly go make a fortune you guys are living a i think you're 32 000 is wrong all you've told me in the first five minutes you've been on the air is how like six different times is how you guys have absolutely no money i think you're living below the poverty level and y'all are running around calling this a successful business it's not it's failed you need to get jobs i i don't know here's what i'm confused about elisa is what you just told me in terms of your you know y'all went through the debts and getting your bills current all that what i hear though is you sound okay with the amount of money you all make and you don't make enough money why are y'all not out there getting second and third jobs and

getting your income up well actually no like we're aware that we're struggling and we need more money i've been working i think you are. I can't figure out what he's doing. Okay. I will say that the numbers have been going up the last few months significantly where we're looking at him bringing home like $2,000 at least this month, which is a significant increase in its trajectory upward. Are you all charging enough? Say that again?

Are each of you charging enough? Is it a lack of not the right pricing, or do you not have enough clients, or both? Do you know what the source of the income revenue problem is? The primary problem has been lack of clients uh what the clients he has right now are definitely paying appropriate amounts for the video editing work he's doing okay yeah he's not working much he has been the last couple months we had a lot of issues for like the first six months this year yeah but but like i mean two thousand bucks video editing in a month he's not working much well and my other

thing though elisa like okay so today's point about like what we're both saying about this income issue is like starting a video production business you can do video editing almost anytime you want you can serve at a restaurant lots of different options of shifts and hours i don't know why he's not doing both video editing on the side working in as many hours as he can as a server he could double his income right there if he had kept the server job yeah that i agree so here's what i'm hearing and you you can correct me what you're saying you can you can go you can go do whatever you want to do lisa but here's what i'm hearing, okay? He launched a video business, and he loves to do the video work, and he's good at the video work itself.

He is not good at marketing and getting new clients, and he's not good at running a business because he's starving to death, and you're starving to death with him. Meanwhile, you're over here trying to plug up the 42 holes in this boat with only two fingers and you're working like three different jobs while he's working one that's not working it that's not working out so if i were to come into your all's lives what i would tell him to do today he needs to do one of two things he either needs to go get a job in the video business and make four times what he's making now working for somebody else that knows how to go get clients

and then builds him out as an editor or as a producer or as behind the camera or whatever he's good at um or until he gets or if he's going to keep doing this, he needs to get three side jobs in addition to this, and I want him working 80 hours a week starting now with Uber, with delivering pizzas, with working at the restaurant serving so that he can keep his video business alive so his family can stay alive while he runs his video business and learns how to be a marketer and learns how to learns his business acumen to run his business because he's killing you he's killing you sitting on his butt listen the way these ducks land on your plate cooked is you have to go leave your house and shoot them and then you have to pluck them and then you cook them but they don't fly in the door

and land on the plate in business you have to go get them and he hasn't developed that skill yet he's not a bad guy he's an artist and he's probably very good at his craft and he's probably not lazy he's just not got a good game plan right now. He's got to go duck hunting. Meanwhile, he needs to go make some freaking money. And this is why we tell you all, we tell you all this all the time, not just you, Elisa. I mean, every one of you listening, that's why we tell you, start your new business idea on the side. Build it up in addition to your full-time income because nothing will kill your dream like not having any money and getting to a place of desperation. It takes the joy right out of it. Elisa, if you will stay on the line, I'm going to have Kelly give you a live stream ticket to our business boutique conference. You and your

husband can watch it together. The business principles apply regardless. It will give him and you tons of tactical steps of what to do to market your individual businesses and your services in order to get more clients and make more money stay on the line kelly can give you that and that will give you guys something to to get started in this direction in addition to everything else we're telling you to do but listen my wife has never been a wife in 39 years that wasn't supportive elisa but she also her method of supporting sometimes was to tell me the truth and you're participating in delusion with him the language you're using it the way you're taking up

for this failed business endeavor it's a hobby it's you're starving to death he is not a success yet can he be yes but not doing what he's been doing for the last year and a half. And $2,000, you know, you make that in two weeks delivering pizza. You know, so we're not successful yet. Don't participate in that. So love him enough to walk with him, encourage him. I think he can be a big deal, but he ain't yet. He's not even a little deal yet. This is The Ramsey Show. This is James Child, producer of The Ramsey Show. Did you know The Ramsey Show is one of the most popular podcasts in the world? Subscribe or follow today wherever you listen to podcasts.