The Ramsey Show - App - Synchrony Bank Partners with Amazon on Credit Builder Card: Don’t Fall for This! (Hour 2)

Episode Date: June 13, 2019

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Live from the headquarters of Ramsey Solutions, broadcasting from the Dollar Car Rental Studios, it's the Dave 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. Have you got bad credit? Well, Amazon has a solution for you. Their new credit card helps you get into debt with your own money. This is from Fast Company. The e-commerce giant has a new store credit card targeted at people

with less than perfect credit scores in partnership with synchrony bank the amazon prime store credit card builder lets people put down a refundable security deposit yep like an apartment which will be used to set the card's total credit limit synchrony will then collect that deposit from you and give you a line of credit, loaning you your own money back. From there, people can spend their own money that they loaned to the bank and then borrowed it back at Amazon.com using their new credit card from money that they put up. Depending on how much money they spend on the card,

the users get 6, 12, or 24 months of no interest for their own money if people spend less than 149 dollars on the card they're not eligible for this promotional financing and the card's apr is 28.24 percent that you're paying to borrow your own money gosh amazon what would we do without a company like you to help us out unbelievable according to wallet hub the average interest rate for people with fair credit is 22.99 these are stupid people too and the average store credit card has interest rates of 25.76 but the credit builder card oh it's 28.24 percent of your own money yeah this is all part of amazon's plan to own the world i mean part of amazon's plan to bring anyone and everyone into its credit program it's essentially a subprime credit card option that mitigates the risk for

amazon you're kidding really you mean if i give you enough money to cover the money you're going to loan me back it mitigates your risk? Where did you know? Of course it does. No kidding. They only stand to rake in fees and interest once the promotional period's over, which of course is why they're doing this. Which is to say it's another way for corporations to make money off of poor people while creating a pathway for them to spend more money. Well, the prepaid credit card, the secured credit card, the prepaid debit card have always been out there. Most of the time, though, they're not associated with a 28% rate where you're borrowing your own money back. You're pretty freaking desperate.

By the way, Amazon will take a debit card. I know because I buy stuff on Amazon. I'm a customer. I'm really not mad at Amazon. They're so dadgum big that they just didn't know that there were stupid people working in one corner of the organization that were trying this crap. So 16 million people just got told, Amazon, that you suck on this product.

People are laughing all over America right now at the absurdity of this, as I said this out loud. People who use Amazon Prime every day are laughing at you right now, Amazon. Really bad PR move. Screw your customers. It's never a good thing. never works out if you just help people which is what you've done amazon for years i mean we're a big customer of their tech services

aws as well not mad at amazon the company they're too big to be mad at because not not because i'm scared of them but just because they're just the right end doesn't know what the left hand is doing the people over in the media side are great people we do work with them all the time their book selling people are by and large great people we do work with them all the time i'm a customer i buy stuff on there uh you know click amazon prime my stuff delivered to my door just like you so it's it overall is a great company um and they are always trying something new so um you got to give them that too they're constantly trying something new they're constantly iterating that's good it's a good business model look at but this is a bad idea boys and girls

you shouldn't have launched this one um and so whoever's working on this stuff y'all y'all need to reset your brain and uh tell synchrony Bank to go somewhere else to screw someone else's customers, not yours, because that's what you're doing. When you give someone $1,000 so that you can borrow $1,000 on a credit card at 28% and you call that store card credit builder. Can't even say it it's so stupid so you loan them a thousand dollars and then they let you borrow your thousand dollars back at 28 you're stupid and they're screwing you and it's your fault and their fault gosh i hope i wasn't unclear was i pretty clear about that okay just making sure everybody knows all right because i you know there's plenty of stuff out there i mean you know you look at some of the stupid butt stuff that city bank does or fifth third does or bank of america or god help you if you bank with wells

fargo they fired 24 000 employees for fraud who even has 24 000 employees much less fire that many for fraud and stay open after that yeah and it just kind of went under the radar nobody talked about it much but you know they did so this is what you're dealing with when you're dealing with a big bank corporate america crap because they just they have one goal get your money that's their goal and you go in there like sheep to a slaughter thinking that they are there to help you their stated goal at these banks is increase shareholder profits you know how they do that they take your money that's how they do that so this really isn't rocket science you guys you have to be wise consumers you have to not fall for stuff like this and this is not a service to poor people please how many times people screw

poor people and act like and then they say, we're a service to poor people. They don't have access to credit otherwise. It's just unbelievable. It's unbelievable. You should not screw poor people and call it a good business practice. Oppressing the poor is not a list of things you want to be on when God looks at your list. Okay? Dumb.

And you go, well, I was serving them. Yeah, well, listen, when you take 28% out of their hide, you ain't serving them anymore. At that point, you've been served. Okay? That's what's going on. Give me a break. So, Amazon, eh, eh, eh, bad move, boys and girls. Little old synchrony bank. You thought you'd landed a whale with Amazon, didn, eh, eh, bad move, boys and girls. Little old synchrony bank.

You thought you'd landed a whale with Amazon, didn't you? And then along comes a consumer advocate, me, calling you out and reminding consumers to stay clear of this. Never put up money to secure a credit card so you have the opportunity to borrow your own money back and pay them interest because you're so freaking desperate to rebuild your credit for the opportunity to go in debt again. This is just stacking stupid on stupid people. This is the Dave Ramsey Show. Thank you. This is big news, guys. You need to stop and listen. The Fed decided not to raise interest rates.

That means you've got a small window of time before rates rise again. Here's the deal. Most people are paying too much interest on their largest expense, their home. So you're freaking crazy if you don't take 10 minutes to call Churchill Mortgage right now and see if they can save you money before rates rise again. A mortgage through Churchill could save you thousands, or better yet, reduce the time until you're debt-free. Can you imagine how it would feel to no longer have that payment looming over your head every month?

Just go to ChurchillMortgage.com or call 888-LOAN-200. Their team of experts will give you more clarity about your options and more peace knowing you're saving significant money in the long run. Call 888-LOAN-200. That's 888-562-6200 or churchillmortgage.com. Well, school's out for the summer. If you're feeling the heat to keep your kids entertained with something that you can feel good about, then take advantage of our summer kids sale at DaveRamsey.com. You can get Financial Peace Junior, which is a box of teaching aids, the tools to teach your kids how to work, give, save, and spend wisely.

It's only $18.99 right now. Your teens can learn how to start and run a business with the Teen Entrepreneur Toolbox on sale for $39.99. This toolbox has everything your teen needs to start their own business so they can make their own money. Perfect for kids 12 and older. Go to the online store at DaveRamsey.com or call Ramsey Concierge at 888-22-PIECE, 888-227-3223. Amy is in Canada. Hi, Amy. Welcome to the Dave Ramsey Show.

Hi, Dave. Thank you for taking my call. Sure. What's up? I am calling because my husband and I just recently found you on podcast just a few months ago. We had been trying to pay off debt before, but not getting any traction. We're finally on cash, figured out your budget, and we're finally starting to make some traction, but we're having a hard time getting anywhere quickly because we are so house poor with our rentals that we have currently, and we're having a hard time selling them without taking a huge loss. So we're wondering, do we take a loss or do we weather the storm until the market improves?

How many rentals do you have? Well, a little bit of background. My husband took a new job in a new city 18 months ago. And then, so we tried to sell our primary residence at that time. And we tried to sell it, couldn't sell it. We had been living apart, coming back and forth for about five months. And we finally decided we have three young kids at home. We just need to be together. So we put our house up for rent and then moved

to Calgary and then rented in this new city here. How many rentals do you have? Well, two now. So then we tried to sell our second one, which also didn't sell without taking a loss. So we have two homes in a different city. How much are they rented for? How much are they losing a month? I calculated it all out. We're at a loss of $940 a month. Okay.

And which one loses how much? Give me a break them down for me. The one home, we just barely break even. Okay, and which one loses how much? Break them down for me. The one home we just barely break even. Okay, so you have one that breaks even and what do you owe on it? That one we owe $280 on that one. And what would you have to

lower it to to sell it? It could sell, that one could sell for about probably 310 except after real estate fees and lawyer fees and everything like that we would still be taking well we'd probably just break even with that one the other one though so wait a minute stop stop so break even and break even right sell it yes that's a no-brainer okay okay now the next one is what what do you owe on it that one we owe um i don't have the exact number on that one we owe about 375 on that one good lord okay yeah and what's it worth

um well the city appraisal is different than what the market is. What price would you have to put it on the market for it to sell? $460, but we bought it for $515. I don't care what you bought it for. So you would not take, you'd take a loss, but you would not have to bring any money to the table. Okay. Sell them both the problem is we've so over the last 18 months we've had them for sale we've said either rent them or sell them whatever comes first just to

weather the storm and so in total we've had them for sale um out of those 18 months a year of it yeah what's your what's your household income well my my husband's in sales, and I work part-time, and so it ranges every year. Like last year, it was $130, but this year it's more on track to $70. Let me tell you what's going on here, okay? You guys ended up with both these properties by default. You never intended to own them as rental properties. They're both emotionally draining to you and you're scared to death that if you sell it for under what you paid for it that somehow someone's going to come

punch you in the face they're not they're not you've already been punched in the face the marketplace did that to you it's over take your hit you've not priced these cheap enough that's why they haven't sold totally you're totally pricing them up over what the agent's telling you to price them for because you don't want to take the loss and therefore they're not selling it's time to cut bait okay it's over your life is going to be so much better when you don't have these two houses yeah i agree it's been we've been just trying to weather the storm forever and we're not getting anywhere and it's so frustrating you know you're mainly they're emotionally draining

you make 130 900 a month you can survive loss okay that ain't that's not killing you and you're not going to really write any checks to get rid of these houses you're going to receive checks when you get rid of these houses yeah so this is emotion more than it's anything else. And it's just emotionally draining. You made some mistakes, and you're trying to minimize the mistake, to minimize the shame of having screwed up. We've all screwed up, particularly on real estate. All of us have screwed up one time or another. And just get this in the rearview mirror all of it and put some money in

your pocket okay does that make sense okay yeah that does honestly it's been it's been such a drain and so yeah it's cleansing it's cleansing and peace giving it's giving you peace to do this so but you're still trying to get too much for them put them on the market where they'll sell ask the agent i want to sell this in 30 days what's the price put it on the market where they'll sell. Ask the agent, I want to sell this in 30 days. What's the price? Put it on the market and sell that baby. Be done with it. Move on with your life. Sharon's in West Palm Beach. Hi, Sharon.

Welcome to Dave Ramsey Show. Hey, Dave. I'm in Baby Step 4, and I contacted Xander, and I just got a term life. Good. And actually, we are doing 10% now with my company plan, what do I do with this money that I get from my universal life? What should I be doing with it? Well, you have children.

No, but that's kind of dependent on me right now. Okay. So you don't need to do Baby Step 5, say, for the kids' college? No, I don't need that. Cool. Are you married? No. Okay. What's your income? About $60,000.

Good for you. How much do you owe on your home? About $99,000. What's that? How much cash value you're getting um they told me about um 9 000 but i don't know i think i might should i be paying um taxes that i have to take taxes from that i doubt it your basis in a cash value policy is the total of premiums you paid in you almost never get back even what you've paid in, which is proof you've been screwed. The cash value sucks.

Yes, I have. And so I doubt you're going to have any taxes. Ninety-nine percent of those cash values don't get taxes because they don't make enough to make taxes. Red return is so bad. So anyway, I don't think you'll have any taxes. I wouldn't worry about it. Your emergency fund's in place of three to six months of expenses, and you're debt-free. Did I understand you right? Yes, except for my house.

Good. Yeah, debt-free except your house. All right, good. So what I want you to do is I want you to get your baby step four going. Get up to 15% of your income going into retirement, Roth IRAs and your 401k, and do a Roth 401k if you can and always take your match there. And let's get this up to 15% of your income. But that should be just coming out of your budget, which should free up this $9,000 to throw at your house. Because it's baby steps 4, 5, and 6 are simultaneous. 15% of your income going into retirement. 5 is kids' college. We're not doing anything there. It doesn't need to.

6 is pay extra on the house. So I'm chunking it on the house is what i'm doing with it okay okay so do i need to then increase my um job up to 15 because i'm only at 10 right now yes if you have good mutual funds there in your 401k at your work that's just fine and have you got that in a roth 401k or a traditional 401k? No, it's a 403b plan. Okay. Do they have a Roth 403b available? No. They don't.

Okay. I might hold that down then and get yourself a Roth IRA started with one of our SmartVestor pros then. It's up to you. But I like Roth better than I like traditional because it's growing completely tax-free. So that's what we're looking for there. Good question. Thanks for joining us.

Open phones this hour at 888-825-5225. This is The Dave Ramsey Show. Thank you. In the lobby of Ramsey Solutions, Chad and Lindsey are with us. Hey, guys, how are you? Hi. Hi, Dave. Welcome. Where are you guys from? We are from Genoa, Ohio, a small town east of Toledo.

Very cool. Wonderful. And all the way down to Nashville to do a debt-free screen. Yep. How much you paid off? We've paid off $149,000 in three years. Awesome. Very good.

And what was your range of income during that three years? We started at about $60,000 and ended over $80,000. Good for you. What do you all do for a living? I am a coordinator for an organization that works with people with disabilities. And I'm a full-time farmer. Okay, very cool. What do you farm?

Corn, soybeans, wheat, hay, and straw. And I'm the fifth generation in the family. Wow. How many acres? 2,300. Whoa! That's a nice place. Dad's at home doing a little bit of work right now, but we've had a lot of rain this spring,

and it has not been a very fun farming year, so we're excited about accomplishing this goal. About being debt-free. Good for you. $149,000. What kind of debt was that? We both had personal loans, a couple cars, credit cards, medical bills, student loans, vacation, everything. You're kind of normal then. We were very normal, and it, student loans, vacation. You're kind of normal then.

We were very normal, and it was not a good thing. How long have y'all been married? Two years, this August. Oh, okay. Very cool. So you started the process and then got married and continued it? Yes. Good. Very good. So tell me the story. What happened? What got you going on this?

I would say it all started about seven years ago before I met Lindsey. My grandpa passed away, and growing up all my life, he was my hero. But when he passed away, we realized that he died with about $3 million of debt. And after three years of trying to run the farm with my dad and brother, we realized that something wasn't working right, and we continued the same behavior that he had. But seven months after he died, my mom invited me to go to church to hear about this guy talk about money. But I didn't want to hear it because Grandpa knew everything there was to know.

So I went for one class during harvest of 2012, listened to the lesson on life insurance, and then never went back. And then three years of trying to figure things out on our own, I realized that something wasn't working right, and we needed to change a variable and that was our behavior so i learned it all wrong from the get-go and i've been trying to correct my behavior for us for our farm and for all the families that benefit from the farm yeah amen so the farm debt have you guys whittled it down down to 2.2 million uh we've actually sold some land, sold some equipment. Personally, we're kicking butt, but I'm doing my best to apply all of your principles to the business.

It's just a slower process. Sure, sure. Hey, man, you paid off 30% of it. Yeah. Pretty impressive. And that was just in the last six months. Wow. Okay, you've got a plan.

You'll be there. My goal is to be a debt in the last six months. Wow. Okay. You got a plan. You'll be there. My goal is to be a debt-free farmer by the time I'm 45. I think you're going to make it. Yes, me too. I think you're going to make it. And that'll make you a multimillionaire in the process. Yes. Yeah.

Well done. Very cool. Good for you guys. So you get married, and then did you guys go through the class or something after that point now that you decided you were going to do this stuff? Or what happened after you got married? Well, before we got together, I had bought a $40,000 pontoon boat. Of course.

And financed it. Of course. It was fun, but the boat owned me. Then when we got together, I told her, well, I got a boat and a Mustang and a camper. And she was excited about that, and me also. We decided to go to the class right after we got married, because we got married in August of 17, bought our house in December of 17, fully financed, and I got elected to be a township trustee in the same year. But we weren't doing the money thing right.

So we started FPU in January of 18. And I had Lindsay sign a piece of paper that said we would meet Dave in five years. And here it is only a year and a half later. And you're done. She was a little reluctant to come to Nashville because we compromised. And actually two months ago we booked the cruise. So we're going to live like no one else on the cruise next March. Did you sell the Mustang and the pontoon boat in the process?

Yes. And the camper? The camper is still for sale. Okay. And when that is sold, that'll finish Baby Step 3. Mm-hmm. And then we'll move on to 3B. Mm-hmm. Because we want to build a house right across the street from the farm.

Mm-hmm. Using all the timbers from the old barn that my great-great-grandpa built in 1896. Very cool. Very cool. You've got a bright future. You guys have done all the stuff you're supposed to do. Well done. Very well done.

We would not have been able to do it without your teaching. Well, I'm honored. I'm honored we helped. But you guys went and did the hard work. So what's the secret to getting out of debt, Lindsay? Selling his pontoon boat. Does that help? You have to have a budget.

And we combined finances when we got married, which I think was really important. And you have to have a goal in mind and just really stick with that and know that you're working towards something. Who was your all's biggest cheerleader as you're doing this stuff? Probably our parents and our financial peace coordinators and classmates. Yeah. And they're watching right now

so hi guys very fun well congratulations you guys we're very proud of you you got a great future ahead of you very detailed plan very well thought out it's going to be fun and the cruise will be a blast next year looking forward to it looking forward to it we've got some uh some friends and family that don't combine their finances, and that's just weird. We don't know how they can have peace in their relationships and marriages without one checking account. Yeah. Well, they can, but one person has to give up their personhood. Yeah.

It's very difficult to do. It's very difficult to do. But you're right. The most optimum way, and all the data points say the people that went with money worked together. All of our research shows that and all of our experience over 30 years. So well done, guys. Chad and Lindsey, Toledo, Ohio, $149,000 paid off in three years, making $60,000 to $80,000. We've got a copy of Chris Hogan's Everyday Millionaire's book for you.

You're on track to be that soon. So that'll be perfect. Thanks for coming by. Count it down. Let's hear a debt-free scream. Three, two, one. We're debt-free! I love it!

Woo! Well done, you guys. Very, very well done. Dan is in Lubbock, Texas. Hi, Dan. Welcome to the Dave Ramsey Show. Hi, Dave. How are you, sir?

My wife and I, I'm very, very well. Good. I'm glad to hear it. Hey, my wife and I are both retired, as you probably know. And just rather than sit around the house all day, both of us have taken part-time gigs. I'm a sports broadcaster at Wayland Baptist University. Cool. And my wife has recently taken a part-time job as a bookkeeper at the private Christian K-12 school in Plainview. And part of her benefits package is they will match 3% towards a 401K.

And my question is, is there an age limit to which you can have a 401K? No. Okay. So as long as you're working, you can contribute. Right. It's payroll deduct only, so you have to have payroll. But there's not an age limit. There is an age starting point, which is 21 years old.

But once you're 21, there's no cutoff on it. And, yeah, I definitely would go get that three percent match for sure yeah absolutely hey glad things are going for you good good for you sir good to talk to you thanks for calling in open phones this hour at 888-825-5225 this is the d Ramsey Show. We'll be right back. Thanks for joining us, America. We're glad you're here. With more than 2 million real estate agents in the country, it is safe to say we all know someone that is in the real estate business. We probably all know seven someones that's in the real estate business.

But just because you know them doesn't mean you need to use them. I mean, just because you know somebody doesn't mean you let them give you a root canal, right? Do you let your brother do your taxes? Why on earth would you let your spouse's mother's aunt judy sell your largest asset just because she got a real estate license this is your largest asset don't let a monkey put your house up for sale just because you know the monkey really uh when you're buying or selling a house it's really important to work with somebody's an expert it's thousands and not tens of thousands of dollars in the balance if you screw this up this is why we endorse real

estate agents only across the country that are high octane high protein some of the best producers in your entire city are our endorsed local providers they don't sell two houses a year they sell a gazillion houses a year they know what they're doing they're experts you want to find out who we recommend for real estate in your market they're called endorsed local providers click elp at davramsey.com or go to davramsey.com agents, and we'll help you out. Jason's in Detroit. Welcome to the Dave Ramsey Show, Jason. Hey, Dave.

It's a pleasure. Thanks for having me. Sure. What's up? Well, I appreciate what you and Chris do. I wish I discovered you guys while I was still in college, but luckily I found you in my 30s, so not too late. But I feel like my portfolio is in need of a rebalance.

I've got a little bit of a heavy position in the money market account. But my wife and I just welcomed a child, and we're looking to move soon. So I'm not sure if I should pay off my house right now. We're trying to move as soon as possible. And then what I should do in the short term, you know, the money that I have in the money market account, and I could break it down for you if that'll help. That's okay. It's probably not necessary. When are you putting this on the yard?

As soon as we find the house that we want. We're going to try to do, you know, contingent so we don't get stuck with two mortgages. Okay. And how much cash position are you sitting in? How much cash? In the money market, you know, roughly $700. $1,000? Yep. And what are you paying for this new house uh we're looking in between the five and the seven inch okay so you're just going to use this money to write a check and buy a house well that you know i want to pay it off as fast as possible i pay it off as fast as possible you have the money in the bank to buy it yeah if i use it all sure why wouldn't you do that you're going to go borrow money do not use your savings account Pay it off as fast as possible. You have the money in the bank to buy it. Yeah, if I use it all, sure.

Why wouldn't you do that? You're going to go borrow money to not use your savings account? Come on. Well, I hate to not have an emergency fund. You have an emergency fund. I maxed my 401. I maxed an employee stock plan. You don't have any other cash other than this $700,000?

No. Well, I have $350,000 to $401,000. I said cash. Oh, cash, no. Okay, what's your household income? Roughly $250,000 to $250,000. So what's an emergency fund supposed to be if it's three to six months of household expenses? It would be a lot less than what I have.

No kidding. But, I mean, what is it 50 grand max okay so you have 650 000 to go pay cash for a house correct do that and then sell your other house okay and then take the equity out of it and if you want to beef up your 50 a little bit don't get back to this again because dude you're losing 70 80 grand a year by not having the mutual funds yeah not having it invested in something if you made 10 on 700 grand that's 70 grand right yep i guess i feared the short term you know if i had the mutual funds right now and

the market got hit. Well, I don't want you to put in a mutual fund today because you're getting ready to buy a house with it. So I agree with you today, but I'm talking about like, okay, we moved. You got the new house. You paid cash for it. You make $250 a year, and you're cranking. You're killing it. How old are you?

38. Man, you're awesome. You are killing it. So you're a? 38. Man, you're awesome. You are killing it. So you're a millionaire, and you're 38 years old, right? You make $250,000 a year. Your other house is sold. How much equity is in it? After all the cost and everything, I think it's considerably about $70,000.

$70,000? Yes. Okay. Well, you can throw that in your emergency fund if you want to beef it up. If you want $100,000 in there, I don't care. With the kind of money you're making, that's fine. But you don't need $700,000 in there. When I was going to move some money from the employee stock plan, I feel like my position was a little heavy at that.

So I sold a portion of that off. Okay. That's fine. And then I would turn around and invest that in something. I never had a mutual fund outside of the 401k, but I do 20% of my income to 401 and employee stock. Yeah. I max the 401 every year, so I just feel like I should have a mutual fund on the side. It's okay.

Or get you if you want to pay cash for some rental property. Either one's fine. But either one of the – any of that's okay. You're fine. But don't be sitting on – two years from today, don't be back in a $700,000 cash position unless you're saving to do something in the short term. You just paid the new house off right off the jump. I wouldn't buy it unless I paid cash for it in your case. Okay.

You're in great shape, man. Enjoy the ride. You got no house. Let me tell you what's going to happen. When you walk into that backyard with no shoes on and you don't have a mortgage, that grass feels different under your feet, dude. Sure does. It's a different world. There's stuff inside of you.

You're doing a certain amount. You're doing like 98% of your analysis with your brain, which is a good thing to use, by the way. But you also need to use your heart because this is personal finance and your heart is where you feel risk and when you don't have a house payment your heart is going to smile yeah now what if i don't find a house in a year it's a hot seller's market here right now and a lot of things feel overpriced it's taken longer than we expected should i go ahead and pay off the 80 000 that i own a house now at $3.87? I don't care.

You're going to buy a house in 18 months. I don't care. It doesn't matter. Yeah, I mean, I'm getting $2.36 in the money market. It's irrelevant. This is not what's making you rich. The gyrations between 2% and 1.25% on the money market. That's not what's making you rich.

What's making you rich is you. You make a lot of a money market you're not that's not what's making you rich what's making you rich is you you make a lot of money and you're paying attention that's much more valuable than your rate of return on these little twisted analysis so and by the way you're walking around with cash in a seller's market uh you're you're walking up to them and you're going uh i can close friday that's a good point and you're going to get not only the house you want but you're probably going to get a deal even in a seller's market so um i that's all i use that all the time uh you know i understand this is a low offer but we can close friday and people go uh uh okay you know and you buy stuff that way. You really do. I get a lot of good deals that way.

Cash talks, baby. Mortgages walk. That's it. So you're just doing so good. I think you're overanalyzing this stuff. You're probably an analyst for a living. Hey, thanks for the call. Open phones at 888-825-5225.

You jump in. We'll talk about your life and your money. We're glad you're here. Jeff is in the Ramsey Baby Steps community on Facebook, the largest Ramsey Facebook community, by the way, and the most active. You can join if you want. I am going to be in Baby Step 4 starting my retirement savings this September. Would it still be worth taking Financial Peace University?

Sure. Financial Peace University is not just about getting out of debt. It's about investing. It's about real estate. It's about outrageous generosity. It's about what God has to say about money. It's about how to be married and handle money or how to be single and handle money. It's a little bit about teaching your kids how to handle money also you get the online

membership for a year on financial peace which lets you take the follow-up class the legacy journey also you can take the class that rachel cruz did called smart money smart kids on how smart people teach the kids how to be smart with money so they don't live in their basement till they're 32 and so on right and so all of that yes everyone should not only take financial peace university but ought to be a member of financial peace ongoing because you get to watch the streaming of the events you can access all the information you can access the communities they're coaching they're everything every dollar plus is a part of it. Hooks to your bank.

And so you can do your budget. It all works together. Yeah. You need to be doing that. Yes, you do. Yes. No, it's not about, it's not a get out of debt class. It's a how to handle my money and my life in every stage of my life and every baby step,

including baby step seven class and membership. Hope that helps. This is the Dave Ramsey Show. Hey, it's Blake Thompson, Senior Executive Producer for the show. You know, you can listen or watch anywhere with the Dave Ramsey Show app on your smartphone. Catch the full show or watch the highlights and check out Dave's upcoming guests. Head to the App Store and download it today.