The Ramsey Show - App - Should My Boyfriend and I Move Out of My Mom’s House? (Hour 3)

Episode Date: November 11, 2021

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Welcome to the Live from the headquarters of Ramsey Solutions, broadcasting from the Dollar Car Rental Studios, it's the Ramsey Show, where debt is dumb, cash is king, and the paid-off home mortgage has taken the place of the BMW as the status symbol of choice. I'm Dave Ramsey, your host. Thank you for joining us, America. This is Common Sense for your dollars and cents.

It's the Ramsey Show. You jump in, we'll talk about your life and your money. Open phones at 888-825-5225. Brett is in Tampa, Florida. Hi, Brett. How are you? Good, Dave. I asked you how you were doing, but I think I know the answer to the question.

Some things are predictable, my brother. What's up? That's right. So thank you for taking my call. Yes, sir. I have the opportunity to purchase a business that I've been working for for 15 years. I'm pretty much running the company for the last five years. The current owners have taken a lot of time off, so I'm running the company.

He's given me the opportunity to buy the company. I've got to come up with cash operating capital. He's going to take a note back on the remaining amount of money for the company. I'm short by about $150,000. So my question is, I've got a house that has a mortgage of about $370,000. It's appraising for $710,000. Would it be wise to get the additional money I need out of the equity of my house? I don't understand why when you buy a business you need operating capital explain that to me uh it's more of a safety net than anything else um and it's and

it's part of the negotiations that i'm having with him that that's what the minimum amount of money he wants for operating capital in the business oh Oh, okay. So you don't actually need the money in the business. He just wants you to have retained earnings in the business. Yes. Yeah. Yes. Okay. I mean, as long as I operate the business correctly,

which I've been doing for a long time, we should never get below the operating capital that I put into the company. So what is the business gross revenues revenues and what's the net profits? The net is around about $300,000 a year. And how much are you paid? $170,000. Okay. What can you live on?

Probably $130,000. Probably $100,000. uh probably 130 probably 100 well okay so 370 000 and uh how much is he or 300 000 bucks what what is he uh what's he want for this business? $500,000. Okay. And that net profit figure you gave me, you're intimately aware of that because you're running the place, right? That's correct. After you're paid $170,000, it makes $300,000. That's correct. And he wants a half a million dollars.

Correct. Okay. It's a good deal. Good price. half a million dollars correct okay it's a good deal good price uh usually i hear that usually when i get these stories it's not a good price i was getting that's where i was headed because i was getting ready to run you off from this deal but i'm not going to now um we just have to change the negotiation because i'm not going to have you go borrow on your house to do it i think that's a bad idea especially for retained earnings that are just going to sit there and look at you to make the guy feel comfortable. After you've been running the dadgum thing for five years, he ought to be comfortable. He pays you $170,000 a year, so I'm not buying this crap.

So I would propose a counter offer in the negotiation, it would sound like um this i'm willing to pay myself only 100 000 and that leaves approximately 350 to 400 000 in profit to work with the very first 150 000 out of that profit i will pledge to retained earnings for operating capital. After that is established, which is less than six months later, right? After that is established, I will give you 100% of the profits above my $100,000 salary until you are paid off, which will pay him off in about three years or less. About two years. Actually. About two years. Actually, about two years.

Because we need $650,000 to have $150,000 in operating capital and pay him $500,000, right? That's right. Okay. And if the business is making $350,000, then you do that in two years. Right. Right. Right. Yeah, he's paid out in two years.

He's paid out, and you have, before that happened, put 150 in there, and he's paid out in two years. I'm going to give you 100% of the profits until you're paid. Right, right. And if he's not willing to do that and he's adamant about it then i'll walk yeah and i'm gonna go get a different job and he's gonna get this business back in his lap that he hasn't run in five years and doesn't know what the crap he's doing he's gonna have a serious problem in the bathroom right after you do this all right believe me he wants to do this deal yes he does yeah he'll

need adult diapers otherwise right yeah listen i'm telling you man he don't want this thing back he wants to sell it to you and he's going to get all his money in two years, and you're going to meet your capital requirement in the first six months? There's nothing unreasonable about this. What's the reason for the capital requirement? The reason for it, if there's a business reason, not an emotional reason, is he wants to know that the business is stable because you've got some slush money there. You've got retained earnings for problems, right? Right.

And you're going to put that in there in six months it's not like it's going to take you six years to establish this and it's not like he's going to be on the hook for six years either yes and i i would assume i could put some language in the contract uh for the same too yeah the contract would read the first 100 and i will will take no more than $100,000. 100% of the profits will be applied to this formula. The first $150,000 of 100% of the profits will go into retained earnings.

Following that, 100% of the profits will come to you until it gets to $500,000, which if profits stay the same, by the way, we have just done the math, is two years or less. And he may want the profit to go towards his note as first position rather than operating capital. I don't care. It's fine with me. He's the one who brought up the stupid operating capital.

We didn't. If you want to take the operating capital out of the equation completely he can have his money in 18 months yeah i'll just give you 100 of the profits you'll be gone in 18 months and i'll deal with the operating capital if i need to get some i'll go borrow on my house but that ain't your problem bubba i'm running the business got it you got this what kind of business is this construction good oh and by the way we're in a boom time hello yeah this is awesome what kind of construction residential commercial what commercial oh yeah yeah ding ding ding equipment coming with us too

uh very very little Only a paper contractor. All right, good. Hey, man, get her done. I think you got a good deal here, but just don't, you know, you're in the driver's seat. He's not. That's my point. So let's get this thing and get it right. Get him out of the picture as fast as you can.

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Be sure and check it out. RamseySolutions.com. Kara is with us. Kara is in Ann Arbor, Michigan. Hi, Kara. What's up? Hi, Dave. Thanks so much for taking my call. I really appreciate you and all of your team. Thank you. So I'm calling because we found you a little bit later in our financial journey, and our financial journey has been filled

with a lot of dumb, but thankfully a little smart, and your baby steps and coaching have changed everything. So we're debt-free now, and we have a healthy retirement fund, but I also have a junior and senior in high school with no college fund. So what my wondering is, is I've run our numbers, and I feel like we can slow down baby step number four in order to help cash flow their college years. And I've actually done this, but with a a lot of anxiety which is why I'm calling you because I'm wondering is this wise and am I on the right track with my thinking what's your household income 230,000 okay so 15 percent's $34,000 right $35,000 okay and what are you

what are you what are you spending on college? Well, because they're so close together, I'm trying to save about $18,000 for each per year. Okay. So they'll be paying some in, too. Yeah. What are you planning to spend on college? Total for them? I mean, that's my total spend for four years.

$18,000? No, $18,000 times four. $18,000 times four per kid. Okay. So I'm in at $36,000 a year since they're back-to-back. Mm-hmm. Okay. So you make $230,000, and if you saved $36,000 for college and $35,000 for retirement, that's only $70,000 of the $230,000. How is it you can't eat? Oh, no, we can definitely eat, and I'm putting it away for sure i think my anxiety is more around

slowing down the retirement i slowed it down so you're suggesting we could keep the 35 000 that would be 15 of your household income yes and i slowed it down to 20k per year okay but if you saved if you saved 35 into retirement at 15 and you spent 36 on your kid kids for college per year that's 70 000 out of 230 okay why why can you not make that um i think when i run our numbers on our budget um it feels like our tax bills are really high um and you know when i add it all up it's like 26 000 a year and well all my things that i've put into our sinking fund and all of that what do we have sinking funds for um like a 20 we have a 20 year old house we've got old cars that are paid for, you know,

driveways that need to be replaced and things like that. We haven't done, because we didn't do smart early on, we haven't been putting money aside for home repairs. Okay, let's change our strategy from sinking funds on this to projects. Okay. And say we need to replace a car during the time they're in college. We need to replace a roof during the time they're in college. We need to replace a roof during the time they're in college. And you just put that in your 230.

I think you can do this. I think you're overanalyzing this. It sounds like you've got money going into about 63 different pockets. It feels like that for sure. Yeah, and I think I would want to clean that up and simplify it to a project-based idea rather than a sinking fund idea. In your case, it's good to have some sinking funds for certain things, little mini savings accounts to cover an upcoming expense.

That's all a sinking fund is for those of you out there. But that's not a bad idea at all. But if it's causing you to stop saving for retirement for the next six to seven years or to slow your savings for retirement the next six to seven years or to slow your savings for retirement the next six to seven years. I don't think I want to do that. How much is in the balance on the retirement account now? We have $800,000.

Okay. All right. And I have a pension. Yeah. So I'll get in 10, you know, when I retire. So you're millionaires. We are, yes. What's your house worth?

$550,000. Good, good. Okay, well, you've done a great job. I mean, this is kind of almost theoretical discussion. So with $800,000 sitting there in a paid-for house sitting there, I can understand if you want to dial it back. It's not the end of the world. I'm just trying to challenge your thinking a little bit and see if it's sound i'm just beating up against the edge of it and see if it'll see if it'll fall over but

yeah i mean if you do if you do what you're going to do you're certainly not going to retire broke you're already a millionaire you know you've already done it. You're a great job. But just don't, you know, you got no house payment, so you got even more wiggle room in this budget, too. Right. So, yeah, I think I would probably relook your sinking funds, and let's not overanalyze, not have too much of that detail going on. It's probably paralyzing you a little bit, and do that to a project-based. You see what I mean when I say that? Yeah, yeah. And then let's see if you can get back to your 15% and still make it.

That's what I'm going to work towards. But if you don't, if you're down at 10% or something or whatever, and, you know, you're still going to have millions and millions of dollars. So, oh, darn, I hate it when that happens. So, good work. Good work. Good work overall. Phil is with us in Ocean City.

Hi, Phil. Welcome to the Ramsey Show. Hi. Thanks so much for having me. Good afternoon. Good afternoon. What's up? So, I have a good problem. I was just selected for a new position at a new location, but my conflict is that I'm not sure whether or not I should take it, and I'm approaching zero hour to make a move because it's 150 miles round trip, and I have a deployment coming up next fall.

And the new position is a promotion, but it's no immediate raise because of a cost of living adjustment. So as I'm saying this out loud, I'm leaning more and more towards not taking the position for the well-being of my family. Yeah, why would you move for no money? As I was leaving my mouth by yes yeah i mean i would ask my supervisor that why would i move for no money the potential for there to be a uh it's it's a government position so i get selected at a gs level yeah and then over the course of a few years there's automatic raises uh and that would be the benefit over the course of say seven years but immediately there's no benefit yeah and i bet you that comes up again later if you don't take it now

good point sir yes absolutely and then my wife and i were just trying to talk it out and as are you active duty? No, sir. I'm National Guard. Okay. I was thinking the way you were describing it. So you've got a civilian government, federal government position, and then you're National Guard. Correct. Okay. All right. Thank you for your service. Thank you so much.

I don't know. I mean, there's not much negotiation because it's the government. It's not like they're going to come in and change something. This is what they're going to do or they're not going to do it. But I don't see... There's nothing here that makes me smile. Uproot your little baby family right before you go and you move them all for no money just for future potential later with the government? I'll probably wait and take the next one as it comes along after you get back from deployment and everybody's got a little more energy and maybe they'll actually offer some money to

go with it. That's probably me, but it's not the end of the world, but that's probably what I would do. In the lobby of Ramsey Solutions on the debt-free stage. Chad and Siobhan are with us. Hey, guys, how are you? Good, how are you? Better than I deserve. Welcome. It's good to have you in Nashville.

Where do you guys live? We live in Windham, Maine. Windham, Maine. Now, what is that near? It's 15 miles outside of Portland. Ah, okay. It's a big lake. I had a guy on in a couple hours ago from Portland.

We met them. We couldn't believe it. That's pretty cool. And two debt-free screens from Portland, Maine area today. Very good. Lobster capital of the world, huh? That's right, baby. I love it.

Love that town. It's great. Hey, so how much debt did you guys pay off? We paid off $207,000 of debt. We also cash flowed over $100,000 for a total of $307,000. Whoa! Cash flowed what? We cash flowed some upgrades and renovations to our house.

That was $50,000. $20,000 was some vehicles. I had some Dave cars. I'm a road warrior. $10,000 was a surprise Disney trip when we got halfway through the baby steps. We also did two sets of braces, a hip, and a couple of appliances lately. It's been kind of funny. Yeah, wow.

So is this house and everything? Yes, sir. Way to go! Wow! All right, how long did this take? Nine years. Way to go, you guys. Excellent.

And your range of income during that nine years? We started out at $55,000, and we're at $136,000. I love it. What do you guys do for a living? I work at a chiropractic office, front desk. I'm a sales associate for a moving company, and I'm also a part-time bartender. All right. Very, very good.

What's this house worth? About $300,000. Way to go, you guys. How old are you two? I'm 46. I'm 40. Ah, in a paid-for house. Yes, sir. Way to go, you guys. How old are you two? I'm 46. I'm 40. Ah, in a paid-for house. Yes, sir.

You're so weird. I love it. You know, when you said that, I was like, wow, I wonder what he means by that. And when we paid it off, we went to celebrate, and we told the girls that they could get dessert now. And so the maitre d' was bringing the dessert out, and she looked at one of my daughters and said, what's the occasion? And she said, we just paid off the house. And the looks that we were getting, and the people next door, and the tables were whispering. And that's when

I realized what you really meant. Well, normal's broke, man. You don't want to be normal. You want to be weird. Way to go, you guys. Thisop, whoop, whoop, whoop, whoop. This is so fun. What a great journey. So what started you with Ramsey nine years ago? I'm going to look at my notes. On February 27, 2012, our middle daughter, Paige, had to have hip surgery at Boston Children's. Oh, my goodness.

Yeah. About six days before that, my husband's insurance, we had to renegotiate a new policy. So actually, while we were staying in the hospital, we ended up hitting two deductibles. Yep. It's the luck of the draw. So along with the hospital debt, though,

we weren't budgeting. We weren't on the same page. You, though, we weren't budgeting. We weren't on the same page. You know, we weren't working together. And so basically, I got notification six days before we were headed down. This was the second surgery for Paige. So we spent 10 months prior going through this process. And then in November beforehand, they told us that it didn't work and that they were referring us down to Boston.

So it was a pretty big blow. Siobhan took it very hard. We all did. But what happened was the 21st of February, I got notification from my employer that they were negotiating hard on the insurance. And they just came to a point where they made a decision that they were going to change our health care coverage. And so I got notification six days beforehand that instead of a standard PPO, they were going to go to a high-deductible HMO with an HSA.

And when I got the notification, my heart went in my throat. Yeah, yeah. So that's an extra $5,000. More than that. Because what happened was we were looking at, well, it was $5,900. Because what happened was we were going to hit the first deductible, $35,000. Right. And then they did a bridge for $24,000, $6,000.

That's what we thought. And then when we went down to Boston Children's, I went to the family care center and just said listen you know I need to understand what's going on here and so the family care center had a couple of gals from the billing department come down sit down the one thing they looked at me and said was Chad you're going to have to keep coming down here this process she's so young what she's going to go through you're going to have to come back down here. We think it's going to be closer to 10, over 18 months. Wow.

And just the blow really hit bottom. Yeah. We had maxed out credit cards, three maxed out credit cards. We had $10,000 on a home equity line. We had the mortgage. Mm-hmm. We had $10,000 on a home equity line. We had the mortgage. And I was basically, a couple of times, a couple of months beforehand, I had to use the home equity line to pay some of the credit card bills because we were disorganized. We weren't working together. Sure. at the family care center, I walked up to the hospital room because Pete just got out of

surgery and they were going to only let one of us stay. So Siobhan wasn't going to go anywhere. So I walked up into the medical room and just stood there and looked at him. And basically my wife was in a pull-out cot, and my daughter was in a full body cast from her chest to her ankles with tubes and monitors. And that was it. Basically. This is about to change.

There was a line in the sand that got crossed. Now I'm mad. Yeah, and basically that's a hit bottom, and I looked at them, and I just said, never again. We're Athertons. We're done with this stuff. We're not playing any more games. We're not playing, you know, we're going to hit this head on,

and we're going to go after this, and I don't care what it takes. And so I gave my girls a kiss, and I went to the hotel to try to figure out what we were going to do. How'd you find us? I was in the hotel room. I had my hot shower in my moment. And I came out, and I opened up my laptop, and I did two Google searches searches and your website popped up. And on the second try, thank God, my mother, I was a little bit sharper.

I didn't go to three. It only took me two. But on the second try, I happened to look and see your podcast symbol and I'd never listened to podcasts. And so I just sat there and I looked at it and I said okay so I searched you and I just I don't know why I hesitated but I did and I just said you know what hit it and I hit it and I heard the saxophone and the intro and I heard you take your first couple calls and what you would do is you'd empathize and you'd methodically pull the facts and put it on your yellow pad that you had. And you would just, you'd go through the facts and you'd empathize, but then you'd kick them in the butt. And this one lady, you said, you said, you're being a princess, being a prince.

I'm like, I'm like, yeah, that's what I'm like. This is it. I need, I need someone to tell me the truth. And so, and then I heard my first debt-free scream. And I'm sitting there and I'm crying. And this one guy that was doing the debt-free scream, he just said, drink the Kool-Aid, drink the Kool-Aid. And he goes, just follow through. And he did it.

And I go, you know what, that's what I need to do. I just need to. And so, right then and there, I just said, we're doing this. And nine years later, here you are. Yep. Wow. That's powerful, dude. That's powerful. I'm honored.

Wow. Very, very cool. All right. So let's get the kiddos up into the shot. What are their names and ages nowadays? So this is Haley. Haley is 16. This is Sophia.

Sophia is 11. And this is Paige. And Paige is, how old? 14. 14. There's so many. I love it. Well, well done, you guys.

What a great family story. Your mom and dad have paid a price to change your family tree, ladies. And a powerful, powerful story. That's pretty cool, dude. Proud of you guys. Thank you. That means a lot. Very, very well done.

We've got a copy of the Legacy Journey for you because the next step is for you to be Baby Steps Millionaires. And you're on your way to do that. You're the kind of people we're here for. We love you. Very, very well done. Excellent, excellent. All right, gang. Chad and Siobhan from Portland, Maine.

207 plus 100,000 in cash flow. 307 over nine years, making 55 to 136, all from a line in the sand. No more. Count it down. Let's hear a debt-free scream. Three, two, one. We're debt-free! Yeah!

Yeah! Yeah! Yeah! Yeah! Yeah! Yeah! Yeah! Yeah!

Yeah! Yeah! Yeah! Yeah! Yeah! Yeah! Yeah! Yeah!

Yeah! Yeah! our scripture today second timothy 215 do your best to present yourself to god as one approved a worker who does not need to be ashamed and who correctly handles the word of truth. John Maxwell says most people who decide to grow personally find their first mentors in the pages of books. Well, that would be true. I did. And still do, for that matter. Open phones at 888-825-5225.

Morgan is with us in Pittsburgh. Hi, Morgan. How are you? Hi, I'm good. How are you? Better than I deserve. What's up? So I've had a question.

My boyfriend and I, we just kind of recently graduated college. We're a year and a half out, and he's two years out. And I have a lot of student debt, and he has a little bit in a car payment. And we're trying to eventually move out of my parents' house, and we're just wondering the next big steps we could take to tackle all our debt. You both graduated? Yeah. He graduated two years ago, and I graduated May 2020.

So what do you make? How much money do you make? I make $70,000 grand a year and he makes roughly 65. Okay all right so you have 135,000 household income if you were married. Correct. Okay so go get married. Tell him that I've been waiting on on it well he needs to move out if he's not gonna get married yeah i know we both live at my parents house luckily so we don't have any i know he needs to move out if he's not gonna get married no i'm serious uh you can't you know i gotta tell to tell you, here's the statistical evidence, all right?

The number of people who do what you all are doing and succeed financially is almost zero. Okay? Like that. Everybody talks about it, but nobody does it. So if you want the formula to win, there's a thing called the marriage advantage in the financial world. And we see people who are married prosper over those who are not. There's a marriage advantage. Health increases everything.

And so, yeah, I would get married, the first thing I would do. And then you have $135,000 household income. I don't know why you would be living at your mother's in that situation. You'd go get an apartment. And then you would attack your student loan debt. And making $ debt and making 135 000 how quickly can you pay off this debt pretty dead gum quick if you start concentrating on it right when you clean up both student loans how much student loan debt have you got again i have a lot i have 150 000 he only has $170,000 combined. And how much other debt? That's all I have.

And then he has a truck loan for $20,000. Okay, so $190,000 gets you guys out of debt if you keep the truck. All right? And you make $135,000 if you're married. And you live on nothing. You could do this in under three years probably approaching two years you could be 100 debt free with moving out yeah yeah you're not gonna rent anything fancy you're gonna rent something that's not fancy you don't need anything fancy you suggest renting then oh definitely you're broke okay you're 190 000 in debt you

don't need to buy a house okay i mean because i know at first like of course you have parents and family everyone's telling you don't rent don't rent buy so we've always had like buying in our head at least the same people told you to get 190190,000 in debt? Yeah. Yeah. So I don't think I'm taking their financial advice anymore. They're not bright. Mm-hmm. Yeah, you need to get this mess cleaned up, because if you don't have any payments at all, you're married two years from now, three years from now, no payments at all, and you're making $135,000, by then you'll be making more, making $150,000 a year.

You can save up and buy a house pretty quick, can't you? And crap, you're only 23, 24 years old, right? Yeah, correct. Yeah. So, I mean, we're talking at 25, 26, you start talking about buying a house, and you'll be able to put down a huge chunk because you're used to living on nothing and paying off debt. So my next question is, because then I have about roughly 20 in my savings, and he has roughly 34. Oh, good.

This is going to go even faster then, because we're going to throw all of that at the debt. Okay, that was my next question. And I know I've just recently actually found your Instagram page, and I've watched the steps. So technically, I guess we're at step two, because we could take some of that and have our small emergency fund. So then you suggest... If you were married, you would just list your debts, all of these we've talked about, the $190,000, smallest to largest, and you would apply the $70,000 worth of savings

to the smallest ones until it ran out. Okay. That got you down to $1,000. Now, that's all after you get moved, and you're going to put up some deposits and that kind of stuff, and you're going to have to pay for the marriage license. Mm-hmm. Are you seeing a theme here? I keep talking about you getting married.

Did you get that theme? I know. I hope he's listening. Yeah. Yeah. I hope he is, too, because if he's not, you ought to kick him out. I know. I'm going to tell him you told me so.

Yeah. Yeah. I mean, he needs to start. Let's man up here. If this is your woman, dude, let's call it. Okay? Do it. Let's move forward. It's time to start acting's man up here if this is your woman dude let's call it okay do it let's move forward it's time to start acting like adults not 14 year olds and let's get some stuff done here you can do it you can do it you're smart you're smart people you're you're not dumb y'all make good money at 23 years old i mean you're really you're really bright and you've

done really well but you're making some money. You're making, you know, you're emotionally living below your age because you're in your mama's basement playing shack up instead of getting married and going and being two adults as a married couple, grown people. Yes. And so I'm trying to push you out of the nest here for your own good because that's where you'll prosper when you guys throw your shoulders back like two adults and get after this you're going to see some huge progress and lock arms and it'd be the first big joy of your new marriage is to

be able to clean this mess up and move on i'm proud of where you're going to be at 25 already i think it's going to be awesome and i'm just being pushy to get you there for you. Doesn't do anything for me. I want to get you there. Matter of fact, I'm going to go ahead and give you a wedding gift. I want you to go through Financial Peace University, and I'm going to sign you up for a year with your new husband for Ramsey Plus. And get them in there, and we'll get this going.

All right, open phones at 888-825-5225. Sean is in Atlanta, Georgia. Hey, Sean, how are you? Hi, Mr. Ramsey, how are you? Better than I deserve. What's your question, sir? So I've been listening to you for about a year and a half now i've got probably 100 hours down wow following your program my mom has got me started on it so i'm 26 years old

i have two daughters unfortunately they're both split families separate moms i'm currently living with my mother i only make about 60 000 a year as a four dealership technician um i took your advice and got rid of the big stupid truck that i do not deserve good and since i got it on a really good deal i was able to pay off several other notes that I had. I'm a little short on time. Go ahead and ask your question, Sean. Okay. I'm trying to figure out what I need to do to be getting myself and my daughter set up.

I have very, very little invested. I had to get another vehicle. I drive 70 miles a day. I needed something reliable. I got another car note. How much do you owe on the car? I'm not quite sure. $19,000. Okay. You bought too much car. You're a technician, man. You work on cars. You know you don't have to have a $19,000 car to have a reliable car. Yes, sir. I do know that. Yeah. You just impulsed again again so let's get that one sold and get down to about a ten thousand dollar car you just need something reliable that's not sexy and get rid of

your car notes and then let's begin to attack these debts like you hear me talking about every day you can do this you can do this the fact that you're asking the question means you're ready to go uh it means you're ready to do what it's gonna what it takes to get there so you hang on we'll also send you a total money makeover book and you show you exactly what to do what it takes to get there. So you hang on. We'll also send you a total money makeover book, and show you exactly what to do to walk through those baby steps. Dude, you can do this. It sounds like you're ready now. Before, you were just starting to play around the edges,

but now you're ready to actually execute and get after it and do what it takes to win. So good job, man. Good job. Good show today, James and Kelly in the booth. I am Dave Ramsey, your host. We will be back with you before you know it. In the meantime, remember there is ultimately only one way to financial peace, and that's to walk daily with the Prince of Peace, Christ Jesus. Hey, it's Kelly, associate producer and phone screener for The Ramsey Show.

If you would like to do your debt-free scream live on the show, make sure you visit theramseyshow.com and register. We would love for you to come to Nashville and tell Dave your story.