The Ramsey Show - App - Should I Wait for My Work Environment To Improve? (Hour 2)

Episode Date: June 25, 2021

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Live from the headquarters of Ramsey Solutions, broadcasting from the Dollar Car Rental Studio, this is The Ramsey Show. It's where America hangs out to have a conversation about life. Some of the different facets to your life. Obviously, we're talking money. We'll talk about your relationships. We'll talk about your work, your dreams.

I'm Ken Colman, joined by my colleague, Dr. John Deloney, and we are Rams of Personalities, and we are here for you this hour. 888-825-5225. The number is 888-825-5225. So let's get to the phones. Mo is up in Milwaukee, Wisconsin. Welcome to Mo's. Mo, how can we help?

Ken, John, how are you? We're living the dream. What are you doing? That's great to hear. I'm kind of living the dream. I just graduated college. Hey! Congratulations, man.

Way to go, Moe. What did you graduate with a degree in? I graduated with a degree in electrical engineering, and I found a job straight out of school, and I just started about a month ago. Come on, man. Very cool. Way to go, Mo. Way to go, man.

You're killing it. How can we help you? Thank you guys. Thank you guys. Um, I have an issue though. I'm $19,500 in debt to get this degree. Um, and I do have a second issue on top of that, which is why I'm calling my, my car broke down.

I don't have a second issue on top of that, which is why I'm calling. My car broke down. I don't have a car. I have had the same car since high school, and it's a cheap 14-year-old car, and it broke down. I don't know what steps to take next. I have two options. I can stop paying off debt, which I'm currently doing, to save up for a car, which will take about two or three months. Or my option two is fix the car now for the price of it. It's currently valued at about a thousand bucks and the fix is about 800. But the issue with that option is I'll keep paying monthly payments to fix it to my car dealer.

And I don't know which of the two options to take. Why would you have to keep paying? You don't have $800 in cash? I do have it saved, but the issue is since it is an old car, it's been giving me a headache for a few months now, and I have been fixing it here and there. I average about $300 every three months just fixing it. So I'm afraid that that's going to continue because it is an old car and it will keep breaking down on me. How much money do you make? I make about $67,000 right out of school. Yeah. And how much do you have saved? About $6,000. Yeah. Dude, with the amount of money you're making and what you've got saved, you can go get another car that's still not – I wouldn't call it necessarily a beater,

but I think a $5,000 car is more than enough for you, and you can get a decent car for $5,000. I'm looking all the time. I've got a 15-year-old going to be 16. I'm in that market right now. Some good stuff out there, John, at $5,000. Hey, Mo, listen to me. I talked to a senior leader in this company today, and they asked the question, should I buy this car for $5,000?

And what you're experiencing right now is something I experience with. You get out of college, you get your first job you're making your big boy paycheck and you go to work and everyone else has a nice car. And then you feel like a schmuck. And you've got to pay off your student loans. It's not that I'm feeling

that I have to keep up with my friends. I don't necessarily feel like I have to keep up with my friends. I don't necessarily feel like I have to go out and get a nice, flashy car. I just want something reliable where I don't have to keep paying to fix. Exactly. Got it. Which is what we're telling you to do. You can afford it, and you can keep with the baby steps and get going.

But you've got essentially an emergency fund, which is out of the order of the baby steps, right? But in this situation, a car is something that you need, and you truly are driving a beater, that at this point, I don't think it makes sense to spend $800 on a car that has been giving you that much trouble when you've got the cash to go get something that's affordable, get right back on the debt elimination on the snowball, and crush this. Is the 19-5 just student loan debt? Yes, it's just student loan debt. It actually started at 22-5, and I paid off a few grand out of college, out of my savings from that. I just didn't want to keep putting more out of my savings into this debt to leave myself hanging, you know? Well, but again, you've got a real emergency here, okay?

But we want you to work the baby steps the way we teach you. Because the reality is that if the car wasn't falling apart, all you need is $1,000 in your emergency fund, and then you're going to knock this 19-5 out really quick. Mo, do not, under any circumstance, for any reason, pay more than $5,000 for another car. You got it? Yep. Okay, I'll take that for sure. I know you're going to go and you're going to be tempted and you're going to say, I could just, and then I could, $5,000, a two and four-row car, leave $1,000 in your emergency fund,

and go like crazy to get that student loan paid off. Yep. Then at the end of this year, you're debt-free, and you can save for a car that you'll want to drive around. Yep. Question for you, John. You. If your name was Moe, when people came over to your house,

would you yell at them? A thousand percent. Welcome to Moe's. I would yell, welcome to Moe's. Okay. Every time. I thought you might. And I think I would, too, as's. Okay. Every time. I thought you might. And I think I would, too, as well.

So there's two votes for that. Absolutely. And if my name was Moe, I would expect everyone to yell, welcome to Moe, when I walked into the room. I think so, too. I love it. All right, let's go to Dawn in Pittsburgh, Pennsylvania. Dawn, how can we help? Hi, Jeff.

Hi. I am in a situation I've never been in before where the job I took pays wonderful money. I have started paying off my credit card bills. And since I can continue on with this job, my goal is to pay off all my debt probably within a year. All right. What I'm looking at right now, here's what's so hard having been an individual who worked, it was paycheck to paycheck, like, you know, never, you know, something always coming up. I approximately, like, probably have at least a good $1,000 left over every week. I'm making about two grand a week.

So with my expenses are paid, I have about $1,000 every week. I'm making about two grand a week. So with my expenses are paid, I have about a thousand dollars every week. I'm just so nervous to take that money and, you know, put it on all my debt. So should I be doing this on a week to week basis, hitting this debt hard or waiting all at one time and taking care of my debt at the end of the month. How much debt do you have? I'm good, Lee. It's okay. I'm sorry, my son just walked in the room. That's okay.

I'm so sorry. That's all right. John has voices in his head like that all the time. No, my son just came into the room and said hello. No, it's okay. So we only got about a minute and a half. Real quick, how much debt do you have? I have approximately $37,000.

$37,000. That's everything. $37,000. $37,000. Okay, great. That's everything. Yeah. Here's the deal.

Whether you do it, you don't save it up. When the money's coming in, it's whatever your monthly budget is. You're putting, after all expenses are paid, and you've got your emergency fund of $1,000. I have that. I know. And so you're putting it all towards the debt. You're going to knock this out really fast. Don, at some point, you got used to everything being on fire.

You didn't love it, and it scares you, but you're used to everything being on fire, and you don't know that you don't believe way down there that you deserve to have all, you do. You have an emergency and it's $47,000 of debt.

Pay it off and you are going to sleep in a way you haven't slept in years and then you're going to watch that $1,000 a week come in and come in and come in, $1,000 a week over and you're going to look up

halfway through this time next year, you're going to be debt free, you're going to have $27,000 in cash in the bank and you are going to look up halfway through this time next year. You're going to be debt free. You're going to have $27,000 in cash in the bank. And you are going to be a woman of peace for the first time in a long, long time. Don't overthink it, Don. Act. And before you know it, your life has changed forever. Really good stuff.

Thank you for the call. Yeah, thank you. Really fun. All right. Hey, good news. There's more Ramsey Show coming up. Don't move. What's up?

Dr. John Deloney here. Life is nuts, right? Between work, your side hustle, summer camps, awkward vacations, family drama, and what? Little League has more games? Our marriages often get put in the back seat and not in the good way, and we lose connection with our spouse without even meaning to. But listen, you can bring back the romance and actually have fun together again. You can learn to love and even like each other again.

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Again, text marriage to 33789. This is The Ramsey Show. I'm Ken Coleman, joined by my colleague John Deloney, and we are taking your calls about your life, your money, also your contribution in the form of your work. How many of you want to get promoted? You want a bigger shovel? Well, I'll take those questions.

How many of you are in a really desperate, nasty, gnarly situation at work? John and I will take those questions as well. 888-825-5225. How about some relationship issues? Well, we're here. 888-825-5225. Let's go to Anna who joins us in Colorado Springs, Colorado. And Anna, we're here to help.

What's up? Hi. So I just have a question. I was hoping to get some advice on if you think I'm doing good in my career track. I recently, about a year and a half ago, made a decision to leave a better paying job to switch careers to be in finance, because that's where my passion is. And I started at the bottom and I recently got a promotion, but it was kind of a small promotion. And so I'm still only making about $33,500 a year and I'm 28 years old and I just feel like I'm behind the curve. Do you have any advice for me? Yes, relax. The great news is that you are doing the work that you want to do. You know you want to be in finance.

And you're young, and you made a switch, and I get it, because here's what's associated with that switch. I was making more money over here. I'm doing the work I love, but uh-oh, I'm 28. I'm getting closer to 30, and maybe some of my friends are making more money. I'm starting to question, oh, what did I do? What did I do? Does that sound about right?

Yeah, it does. Yeah, so here's the deal. Let's talk for a moment about the future. What's the ladder look like for you? Forget about the timeline. I'm just talking about the ladder. What work are you doing as you continue to move up? What's that dream job for you, your professional pinnacle?

For me, I really like where I'm at right now, but I want to be a financial advisor eventually. My particular credit union that I work at doesn't have that track because they use an outside source, but I do get to see it and I get to talk to that financial advisor that we work with on a fairly regular basis. So I'm getting into finance and I'm learning about it still. But yeah, it's going to mean probably a shift from my company to another company. Well, there's no question. Let's just call that out. You don't have that position in your company, so that's great.

So what we're going to do is now we're going to switch ladders. You're on the ladder right now. You're getting great experience. We're really proud of you. You're doing a great job. But eventually we're looking to do is now we're going to switch ladders. You're on the ladder right now. You're getting great experience. We're really proud of you. You're doing a great job. But eventually we're looking, and I don't mind you looking now, but you know your industry a little bit better than me, obviously. So when is the right time, when do you have the right experience to make a move

to another company where we can move into the financial advisor role? But here's the deal. You know what a financial advisor does, and you have a pretty good idea of what a financial advisor makes, correct? Mm-hmm. Yeah. And that feels really good when we think about that future correct yes all right there's a lot of potential there of course there is you can make crazy money but it's not about the money it's about the meaning isn't it yes there we go it's about helping people there it is so here's the deal. You're very, very normal, Anna. It's normal.

Everything you're feeling is normal. But you've got to go, hey, this is not about the now. This is about the next. And that's a wrestling match that everybody deals with. I still deal with it. I'll be 47 next year. It's not an age thing. It's just a human thing.

But you've got some extenuating factors that are kind of making you go, oh, I don't know. And you're a little doubtful. And I hope I've brought you back to clarity. Is this in your sweet spot, yes or no? Yes. Yes, it is. Are you on a ladder that's going to get you to where you want to go, yes or no? Yes, eventually.

I know. But you're on the ladder. Last time I checked, there's multiple rungs on a ladder, and I've got to climb to get to the top of it. You're climbing, Anna. I'm proud of you. Thank you so much for the call. I promise you you're doing the right thing. Keep on doing it.

The time will come for the next step. Hey, Ken, so help me with this. So talk about finding your sweet spot. Define that for me real quick. Well, the sweet spot is just a little analogy that helps you see where you're using what you do best,

your talent, to do work that you really love. Think about the actual work itself. To then accomplish the results that you want to put out into the world. So when talent, passion, and mission align, now you're in the sweet spot. The idea being with a baseball bat hits the ball and that perfect part of the bat, we have maximum performance. So she mentioned at the end of the day, this is about helping people.

That's right. And so I was about to ask you, is a sweet spot, is it about skills? I am good at talking with people. So I could be a salesman. I could go get credentialed and be a counselor. I could go fill in the blank. Or is it about mission? I'm not helping people.

So I could be a personal financial planner. I could go learn the skills to work in IT and help folks. It's about all three. It's all of it. So let's look at talent. So let's just say, we'll use Anna's example. She's, we've got her on hold, but let's say that Anna's talents are communication. That's the verbal skills. Skills, right. All right. It's just a verbal talent. Okay. Let's say that she's got the talent of logic, right? Just a really good analytical thinker. And then we'll throw one more in there. Maybe she's got the talent of connection. So that's not just the ability to communicate but to really connect with people.

And so we go, okay, great, that's what you're really good at. Now what kind of work do you love to do? Well, if she has the talent of logic, she probably loves analyzing. And she probably likes taking that analyzing. And then if she likes communication, then she probably loves the work of instruction. So then you look at, okay, she likes that. She loves that work. Now we go, what are the results that matter to you?

She goes, well, I'm really all about service, and I'm really about solution. Oh, great. So you put all that together. You're really good at this blank and blank. That's talent. You really love to do this work. That's passion. And you want to work to produce these results, service and solution. So that means when you lay all that together, the sweet spot, let's just picture for a moment a big circle. Inside of that circle are multiple jobs and career paths. She just happens to kind of love the finance side of things, but you have to hold it up. So she's listened to my show before. I could tell.

So I said, are you in your sweet spot? She's going, yeah, because I want to use my talents for the mission that you're asking about for service and solution, but it's in the area of finance. So let's back out of that and ask the Simon Cowell question. How do I know if I'm talented in a thing? I work with a lot of people who think they are real good at a thing. I'm not here at Ramsey, but I talk to people. I'm really good at X. I'm good at listening to my wife, and she just doesn't, or I'm good at, and I have to

say, you're not. Well, a couple basic questions. I love this question. A couple basic questions that you've got to answer. What have people complimented you on your whole life? Now, that's outside of Uncle Larry and Mama, you know what I mean, and everybody at Thanksgiving. We're talking real world. Teachers, coaches, right?

Yep. What have people complimented you on? Here's another one. What has always come easy for you that other people struggle at? Okay? We can begin to see these clues. We kind of uncover this and go oh people have always said you're really good at people have and then i watch other people struggle in an area but it's easy for me so what comes easy for me what do people compliment me on there's your basic clues

but here's the thing you got to get real feedback yeah okay you can think you're good at it and you realize you're mediocre. I thought I was a really good soccer player until I started playing really good soccer players, and I realized I'm average. So we can get clear on that by getting real feedback and then putting ourselves around other people that we know are good and we measure ourselves. It's really hard to be delusional if you do those things but if you're sure but if you're only getting feedback from your closest friends who aren't telling you the truth and your mom who would rather lie to you than hurt your

feelings we end up with american idol moments where somebody walks in and thinks they can sing and when simon tells them they suck they literally lose their mind and run out of the room flipping people off and beep, beep, beep. And even the parents are kind of like embarrassed. So I was, I gave a talk here in Nashville at an event and it ended with a standing ovation. I thought I was pretty good. And one of Dave's executives was in the audience and said, I'm going to hire that guy. And I went through the whole, you know, went through all the hiring process for a year, whatever, and all that. And then Dave says, man, you've got some talent.

We're going to make you into a good speaker. And I said, Dave, I think I'm a pretty good speaker. And he looked at me and said, we'll get you there. It'll take some work. And then you look after a group of people who are world-class at what they do, refining, teaching, calling you out, saying not good there, not good enough there. Then you look up a year, year and a half later, and you maximize those talents. That's right.

That's right. Get real feedback from real people who actually know what you're asking them for feedback on. All right, don't move. More of your calls coming up. This is The Ramsey Show. welcome back america if you're listening to the ramsey show i'm kent coleman joined by my colleague john deloney we're taking your calls about your life, your money, your relationships. You're not where you want to be.

It doesn't matter what area of your life. We'll take a shot at it. 888-825-5225. 888-825-5225. Find out for yourself why Blinds.com is the number one online retailer of custom window coverings. You get free samples, free shipping, and with the new promos they run every month, you'll save

even more. Make sure you use the promo code RAMSY to get the best deal. Today's question comes from Sarah in Utah. I have two jobs as a licensed professional counselor. One is at a hospital where I work on an inpatient unit full-time. The other is a part-time private practice I started last year.

The hospital I work at was recently bought by a new company. Things are slowly improving, but before this, it has been very difficult to work here with bad management. I've had one terrible raise in four years. There has been high turnover as well. How long do I hold out for a significant raise with my new company, as well as for the work environment to improve before I leave? Well, the asterisk on this deal, John,

is when we get a question like this and we can't go back and forth, it's very, very tough. So high level, I would give it a little bit of time with the new company because it is, after give it a little bit of time with the new company because it is, after all, new. I would connect with the new leader if, in fact, it is a new leader. The challenge with that is if it is the same leader that she's had and we just have

new ownership, then I would say it's time to start looking. In fact, I would start looking anyway, but I would not leave. So I'd start looking now. I would not leave until I, A, found something better, or B, if we've got new leadership, truly new leadership for you, and you've been able to address, hey, I've been here this long. This is what it was like. Really excited you guys are here. What does the growth plan look like? We talk about growth plan, not talk about the laundry list of all the things that are awful. That's the approach there, John.

Whenever somebody asks the question, how long do I hold out for a significant raise with my new company? As well as for the work environment to improve. I want to look back at a few things. One is, you're working in a full-time inpatient hospital. That works hard. It's messy. It's all the time. It's heartbreaking. There's only so much that work environment can improve. It's a hard job, right? When somebody says, how long do I hold out for a significant raise? I hear in my head that when I get X amount of dollars,

that's going to make all this worth it. And that hasn't been my experience. Because you end up just making more money in a still really hard, soul-sucking job, right? The other side of that, though, let me mention this. The other side of that, John, is how long do I hold out? You shouldn't be holding out for a significant race. Because I've got news for you. If you're

holding out, it's not coming. Okay? No. If you're not an organization where the leadership develops you and then promotes you, you're not in the right organization. And I've never seen a company be purchased, a new leader come in and say, hey, everybody. Yeah. So glad I'm here. Yeah.

Everybody, 30% raise. Yeah, that's right. New sheriff in town. Drinks on me. Yeah. That happens. They'll buy you drinks and donuts. They ain't giving you a 30% raise. Yeah, that's right. New sheriff in town, drinks on me. That happens. They'll buy you drinks and donuts. They ain't giving you a 30% raise.

And here's the thing. When you see your check with an extra $400 on it, you're not going to suddenly go, okay, good. 100% right. This is a great point. I get this call daily on the Ken Coleman Show. Hey, Ken, I took a job for a raise six months ago, and I'm miserable. Yeah, I know. Because all you did was get an initial high,

because when we get promoted, we feel good about ourselves. That's normal. And when we get more money, we feel great, right? So we feel some love, and we see the love on the check. But that runs out pretty quick. Real quick. We humans adapt so fast that if you're going into work and you're not doing something that you

love, and you're not being treated as though you matter, and you don't have a ladder to climb, I'm telling you folks, it's not going to last. So, whenever you say the words I'm just going to hold out for, that makes you, that puts you in what I would call an imaginary position of power.

That I'm holding all the cards. You're not. You're not. No. Right? So what can somebody do here, Ken? Off the top of my head, you do this every day. Something off the top of my head.

What's the amount of money you want to make? What is the market going to pay for this particular job in this particular area? Are you good enough to meet that market demand? Can you make this stuff happen? How much money do you think you need? How much money is this skill worth? Is this the only shop in town particular area? Are you good enough to meet that market demand? Can you make this stuff happen? How much money do you think you need? How much money is this skill worth? Is this the only shop in town? What is going to make you whole here?

Don't play the, I'm just going to hold up. What is going to make you whole? Yeah, well, in this particular question, this feels like a burned out person is what it sounds like. Already burned out. And now you've got new ownership coming in. And again, I'm chilling out long enough to see are there going to be some structural changes above me. And I'm going to get some experience and see is this really a new day.

Most likely it's not. If it's not a new day, I'm going, okay, this is what I do. It's not a question of what do I do with my life. I get that a lot. This is I know what I want to do. I'm not making what I want to make. Well, let's look at that. To your point, market research, what does it pay?

Do you have the experience and the skill set to be able to do that? But here's the thing. Before you make the switch, do your homework. It takes you approximately one day to figure out if a company's got a pretty decent culture. That's right. It's not a hard thing to discover. And, dude, i deal with this with relationships with a new girlfriend or a new husband or a new wife or a new whatever you do

this with jobs never forget man wherever you go you go with you so if you don't have a a life that is sustainable if you don't have connection with friends and community if you don't have hobbies and things that bring you joy if you don't have connection with friends and community, if you don't have hobbies and things that bring you joy, if you don't have your own mental health practice and your own spiritual practice, go work another place, make money, lose money. You're going to continue to chase and chase and chase because wherever you go, you're going with you. So, Sarah, while you're waiting for this to find out,

is this culture going to shift and turn over? Give these new owners time to get to know the landscape, figure out the finances, learn how Utah works, whatever's going on in your community. While they're doing that, don't just sit there in the corner with your arms crossed, shooting lasers out of your eyeballs at them. You start working on you. That's right. Right? Yeah. Well, it's very important to point out.

So a couple years ago, we did the largest study of net worth millionaires that's ever been done. 10,000 plus net worth millionaires. And this never ceases to amaze me, folks. You've got to understand this. The third largest group of net worth millionaires in the United States of America are? Teachers. Okay. What?

All right. This is even more fun. The median salary in the United States for teachers, the median across the entire country, $60,000. What's going on there? So at some point, it's not always about the raise in the money. It's more about, hey, do I feel like I matter to this organization? And it doesn't even have to be a massive raise.

Your standard raise, again, in the United States is about 3%. Okay, that's a standard. And I caution people to say, hey, it's not about the raise. It's about do you feel like you're growing while still doing what it is that you want to do? And a lot of times, you made a very good point. You made me think of this. You can be growing, too. Absolutely.

You don't always have to attach your growth to a raise. Do we want a raise? Yes. But why do I bring up teachers? They're in it for the work. They're in it for the meaning. That's why I teach this. You use what you do best to do work you love to produce results that matter to you.

At some point, you're going to have to say, I have enough money because of the meaning. And you and I have talked about this extensively. In this great American dream that has now morphed into reality stars and private jets and bling, we're starting to really lose the facts around meaning. And meaning has nothing to do with money. I often will see somebody who makes $137,000 and think your life would be better if you made

$92,000. Because then you could go to all the baseball games. You wouldn't have to miss the dance recital. You could slow down a little bit. You could have Sunday off, right? Instead of hustling on top of hustling. It's answering that question, what is enough? When are you whole?

When are you well? Then plugging yourself in here. Here's the thing, Sarah. You've got to heal, man. Some people hurt you. They take advantage of it. You had crappy leaders. Don't take what they did to you and throw that on your new leader.

Heal from that too. I agree. You wouldn't believe how many seven-figure earners are miserable. Lots. I just want to drop that in there. He is Dr. John Delaney. I'm Ken Coleman. This is the Ramsey Show. Thank you. welcome back to the rancy show i'm ken coleman joined by my colleague dr john deloney hey we're talking about your life your money your work your relationships and i can tell you i know

that there's at least one thing that sucks and it never stops sucking, and that's living paycheck to paycheck. At the end of the month, if you're barely covering all your bills and never getting ahead, it's like getting stuck in a revolving door with your money. But you don't have to live like this. We want you to stop this and start making progress. Check out Ramsey Plus. This membership will show you how to make the changes you need to get the results you want with your money.

Ramsey Plus gives you complete access to our best online money courses, Financial Peace University, and Know Yourself, Know Your Money. Get out of the cycle. Start making real progress. Get a free trial of Ramsey Plus today. Text TRIAL to 33789. That's TRIAL. Text that to 33789.

This is fun. Look at that name over there, John. Kyle, text that to 33789. This is fun. Look at that name over there, John. I guess that name's real. Marie Claire? Isn't that like a magazine or something? Marie, how can we help? Hi.

Thank you so much for taking my call. It is a magazine. Unfortunately, it's not my magazine, or I probably wouldn't be in this situation. I thought so. I thought so. I wondered if I'd seen that somewhere before. Okay. How can we help?

Yeah, yeah, yeah. Hey, listen, Marie. Well, thank you for my call. My last name rhymes with the lunch meat, so you're doing okay. You're doing all right. We all have our crosses to bear, right? Yes, yes. I'll trade you lunch meat for a magazine any day. Go ahead.

Oh, that's awesome. So my husband and I are just starting the program. I mean, I've definitely like thrown myself into it. I'm listening to the podcast. I'm like, I'm all in. I'm like so excited. So I just did my budget. I do want to sign up for the Ramsey Plus program and do the whole story.

Now, as you know, the market, the real estate market is super crazy right now. So I just on a whim, I called my real estate agent because I just had to know what my house is worth. And basically at the end of the day, we could, after paying her the 6% and paying off all of our debt, which is about $49,000 of consumer debt and our cars, uh, we would be left with $144,800 left. So where would you live next other people call well so that's okay so we would we would rent something for a short time we do also have three kids and a dog so it's a lot of stuff to do but you know we my husband got a job in at disney in disney a couple years ago and we just decided to move up there we didn't love it we came back so we

we're open to moving around it's not you know it's not like we haven't done it before um so we'd have to rent for a couple years uh until the market obviously goes down a little bit or at least levels out in the meantime we could bank about 35 000 we budget about 35 000 we could budget a year if we really stick to our budget and add more to our wealth we could have a pretty good if we really stick to our budget and add more to our wealth, we could have a pretty good sizable down payment for when we do purchase another home. I like it. Why wouldn't you do that? Well, you know, I talk to everybody and everybody that I know that has any sense says,

it's a great business and you do it. And then I talk to my mom and she's like, don't get rid of your house. And I say, you know, I do love my house. We've done a lot of work do it. And then I talked to my mom and she's like, don't get rid of your house. You love it. And I said, you know, if I, I do love my house, he's done a lot of work to it, but we also got it at a really good price and now it's a really high price. So I just feel like as a business decision, we can always make another house a home. I just, our worries are number one, my husband has a 1099 and it's a new job and it's an international business so he gets paid through paypal and then he has a company that he pays himself so it would take a couple years of a 1099 consistently to be able to get another mortgage which i already know that um so

that's a little bit of a scary thing and also what the house prices are going to be in a couple years and we don't want to rent for five years you want to rent for two to three years max. It worries us because no one knows what's going to happen. The flip side of that is you only got 49 left. I get it, but I don't think this is either or, wrong or right. I think it's up to what you guys decide. I think you get fast forward on a lot of things, and I don't think renting is that big of a deal. I've done it with three kids and a dog.

But at the same time, I think you guys do the pros and cons on this, and I think you could pay off the $49,000. If you're going to put $35,000 away a year, so you kind of lay that out, well, that means you're a year and a half, you're done. And you're in your house, And then we're feeling pretty comfortable. Right. Well, that $35,000 is us being able to save without any debt. Oh, I see. With us saving with debt, yeah. With us saving with debt, that's definitely not going to be, it's not going to be a two-year story.

No, unfortunately. How much, what's your take-home income? What's your income? It's $84,000. So our income is $84,000 a year, best before taxes. I don't know if we haven't filed yet. I'm not exactly sure what the expenses and all that will be. Do you stay at home?

I stay at home. I am a hairdresser, but because of COVID, I stopped doing the few people that I do, but I don't really bring home. I bring home like the cash. What kind of debt is it? It's consumer debt and cars. I owe about $8,400 on my car, and my husband owes about $6,000 on his, and they're both reliable vehicles, but I think we should keep them

because we need a car that fits everybody, and then he needs a car for work. And we don't use our credit cards anymore. I mean, we're done with the spending. We're on a pretty strict budget, but we haven't really, we didn't, we're not as focused as we need to be. Unless you're in love with the house, John, you and I may differ on this. I would probably sell the house and do what you plan to do because it fast forwards everything. That's the thing. If we want to stay in our house, we have to put an addition on.

We want a pool. By the time we can afford those things. Our kids are little, but we want to enjoy those things sooner. You know, we don't want to be 55 putting an addition on a house, you know, by the time we get into the right financial place to do that. I mean, never knowing the future, but addition. So yeah, this, your, your luck, you're, you're getting the best of both here because Ken's telling you he's a father of three. We have the same job. I would probably, Ken said I'd probably sell the house. Here's what my thought is. Cool.

I would put pools aside and additions inside. Those are cool wants. It would be nice to have. I would say I'd rather see you smile at the kids, go guns a-blazin'. You go take every hairdressing appointment you could possibly get your hands on for the next 16 months and tell your husband, we're going into DEFCON mode, like war games. We're going to solve this and pay your debt off. Everybody breathes, and then you get to look at the landscape.

What I would hate for to see happen, you got no home, three little kids, your husband's international business that pays him through PayPal dries up, and y'all are stuck in an apartment somewhere, and you're thinking, oh, my gosh, what do we do now? Right? So here's the thing. Those are two different risk profiles on the same question. Well, I don't know.

I'm going to say this. The PayPal thing or the husband's business goes up. It doesn't matter whether you're renting or paying mortgage. That's true. So that to me, that fear isn't relevant to this decision. That could happen whether I'm renting or not. And at that point, I'd rather be renting than I would be stuck on a mortgage. It's true, exactly, with all the expenses of

having a house. And honestly, I love my house, but if I never step foot in it again, I would be okay. If my wife said that to me, I'd have the house on the market tonight. Yeah, why didn't you lead with that, Marie Claire? You know, honestly,

it's me. I'm the one who wants to sell more. I mean, my husband is on board, and we both have the same hesitations because we don't want to rent forever. You're not going to. That's a false narrative. You're going to fast-forward your life tremendously. It's true. $144,000 left over. Sell it tomorrow.

Right? That's a lot of money. Yes. Right? Yes. And listen, the next time. All my credit card companies and pay them and cancel them. The next time you call somebody, because I know you and you're going to ask eight other

people this question. Yeah, that's right. That's the problem. Lead with, if I never set foot in this house again, I would be fine. Lead with that. Okay. And they'll just say, sell the house. I like it.

You know what? Awesome. Stop talking to people. Just go do it. Talk to your husband. Stop talking to mom. It's not mom's decision. It's your decision.

It's your hub's decision. Stop talking to people to get their opinion. Who gives a crap what they think? This is a fast-forward button. I'd press it, and those cars are paid off. I mean, wow. We got options. Go rent a house.

Make it fun. Make it an adventure. Keep saving money. $35,000 a year. You guys are going to be crushing it. It's a no-brainer. Get out of here, dude. Yeah.

Leave Florida. Go somewhere where the housing is cheap, and you guys are going to love your life. Or stay in Florida. I don't care. Yeah. I like it. Good for you, Marie Claire. I'm always for the fast forward.

I think Marie Claire should open a magazine. She should. She should write a column. I'm debt free. And give it away to Marie Claire. Maybe she develops a whole column. We're brainstorming. Hey, our producer's Ben Hill.

Thank you, Ben. Kelly Daniel, our call screener and associate producer. And John Deloney, my colleague. Thank you for joining us. This is The 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.

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