The Ramsey Show - App - Tell Your Mom To Stop Acting Crazy (Hour 2)

Episode Date: March 9, 2023

Dave Ramsey & Kristina Ellis answer your questions and discuss: "Should I do owner financing on the home I'm selling?" Helping a parent financially, The gift of saying "No!" Have a question for the show? Call 888-825-5225 Weekdays from 2-5pm ET Want a plan for your money? Take our FREE 3 minute assessment: https://bit.ly/3nInETX Listen to all The Ramsey Network podcasts: https://bit.ly/3GxiXm6 Learn more about your ad choices. https://www.megaphone.fm/adchoices Ramsey Solutions Privacy Policy

🎵 Live from the headquarters of Ramsey Solutions, broadcasting from the Pods Moving and Storage Studios, it's the Ramsey Show, where we help people build wealth, do work that they love, and create actual amazing relationships. Christine Alice Ramsey Personality is my co-host today. Thank you for joining us. Open phones at 888-825-5225. Rusty starts this hour in Houston.

Hi, Rusty. Welcome to the Ramsey Show. Thank you for having me, Dave. Sure. What's up? I had a question. My wife and I are selling our home, and we're moving out of Houston to out of town.

And it's not a company-assisted move, so we're doing this on our own, and this is for work. And in the current market, in this current environment, not really sure what the feds are going to do with the rates. On the selling end, we're wondering, as we're playing out different scenarios, if we get to a point where offering owner financing on the selling side is a good idea and just wanted to get your opinion and your take on it. Not a good idea.

Stay away from it. Yeah, let's talk about why. Number one, you need to get a good real estate agent, and I don't think you have yet. Have you? Okay. Have you? We are working with one. all right and they suggested this

uh no this was um again playing out called is a home paid for that could happen uh it is not we do still have a mortgage okay um how much is the balance on the mortgage? $300,000, just under. Well, you don't even have the option. You can't owner finance it. Do you have more money sitting around somewhere else? Yes, we do have a savings. Yeah, we do have some under savings account. How much? About $150,000. Okay. If you transfer the title on a home with a mortgage, a current type of mortgage, an FHA, a VA, a conventional, without the mortgage company's approval,

and they will not give approval, then they have what is called a due-on-sale clause. If it's a Fannie Mae loan, if it's a conventional loan, it's paragraph 17 in your deed. And if you transfer the title, they call the entire loan due instantaneously. You have to write them a check for $350,000 or they will foreclose on you. So you're not in a position...

That's the right kind of information to know. Yeah, you can't owner finance. You're not in a position to owner finance because of that. Because you can't get rid of this mortgage, and mortgages in our current world are not assumable. And I'm assuming you have a traditional mortgage of some kind, correct? 15-year fixed with 2%. Is it conventional or FHAVA? Conventional.

Yeah, so you have a traditional mortgage, a conforming mortgage, and so your deed of trust says that if you transfer the title without them approving the new borrower to take over that loan, which they do not do, then they can call the loan in full, and so you have $350,000 due on the day you sold the house. So you don't have a way to do this mechanically um so it's not really an option but just for the fun of it let's talk about it let's say the house was paid for here's why you would still not owner finance it why i answered

so quickly without even all the information the reason you wouldn't owner finance it is the only reason is it well number one who's going to want owner financing? Someone who can't qualify for a mortgage. This is now who owes you money. You see how bad an idea that is to start with, okay? Then on top of that, you're locking in, say, 6%. I'm going to make 6% on my money for the next X number of years, 20 years, 30 years, 10 years, whatever this loan is for. And that's all you're going to make on it.

While you could have had that money invested in your next home being paid off and not have a mortgage, you could have had that money invested in mutual funds making more and if these people don't pay then you have to go through a foreclosure procedure and take the house back and if you're going to do that and even if they put down two hundred thousand dollars it's still no fun you're going to get the house back and you're going to have put two hundred thousand dollars in your pocket but you're also going to go through a year's worth of hell to get the house back, and they may have torn it up while they did that. And so it's just very, very few good things happen when you owner finance. You're locking in a low rate. Property gets torn up hard to get back.

All these things, even with a strong, huge down payment, and even if you're collecting, you know, 8% in a 6% mortgage world, you still could have done better in mutual funds. And who's going to pay you 8% except someone that can't get a mortgage otherwise has got some kind of problem. So these are the reasons we don't do owner financing. Even when I was doing real estate flips and when I was in the world of debt all the time, I didn't do owner financing back then because it only works good for the buyer. The only thing the seller gets is the house sold, but it's really not even sold because if they don't pay it, you got to go get it back. So I'd rather just take less money and get out of there, but you don't even have that option because of what we discussed earlier, Rusty. So

interesting call. Yeah, that's so interesting. And I think it is that point that you made that it's not really secure money. It's not like a guaranteed 8% or 6% because that's probably not the most reliable buyer. There are better ways to build your money. I was 20 something years old doing deals. And the guy that taught me about this stuff, he was used to carry back a lot of loans he would he would do he would buy properties and then hold the note buy properties hold the note and then he'd foreclose and get it back and do it again so he had this little like tote the note type thing going with his house because that's what

the tote the note people do on the cars right they sell them for too much money with a big down payment and too high an interest rate then they go pick the car up then they do it again and they do it again they do it again and so it's a churning scam if you will but his thing was really accurate he said the only way only type of loans you make on this if you're selling a house is a happy happy loan and happy is you get enough interest rate that if they pay you're happy uh happy is you get enough interest rate that if they pay, you're happy. Happy is you get enough of a down payment that if they don't pay, you're happy to take it back and put that down payment in your pocket and do it again. So do happy, happy loans, high interest rates, high down payments was his motto in those days. But again, that's setting up a churn situation like a tote the note lot,

and you just don't want to get into that as an individual. It's not's not it's not going to be happy yeah that sounds very sketchy and not like financial peace well you're going to discover you know if they go into chapter 13 bankruptcy that that for 60 months they pay their payments to you through the bankruptcy court and you can do nothing 100 stay an injunction on any creditors from doing anything when you're bankrupt. So you're going to discover a lot about the law you didn't want to know in those situations. So I would just take less for the house and sell it. But in your case, Rusty, it's not even an option for the reason that we described because of the due on sale clause that is in all deeds of trust and mortgages in America today. All of them have it.

If they're standard conventional Fannie Mae or FHA or VA. Old days, back when I got my license in 1978, FHA loans were fully assumable if you could fog up a mirror. Matter of fact, you didn't even have to fog up a mirror. You could have an LLC that doesn't have breath. It could assume it, you know? But no more. That's all gone a long time ago.

This is The Ramsey Show. Christina Ellis, Ramsey personality, is my co-host today. Thank you for joining us, America. We're so glad you are with us. Hey, if you've been in the market for a new home for a while, last year's interest rate hikes might have put the brakes on your plans. Well, this year, rates have bounced around some, but they're still higher than they've been in a long time, and that's frustrating.

Here's the deal. If you're financially ready to buy, higher interest rates don't have to keep you from buying. Not when you work with a good real estate agent that you trust to give you advice based on your local market if the rates go down after you buy refinance people did that for decades it's that would be not a new thing okay but uh so i can't buy because i buy the house i'm afraid i'm afraid i'll miss out on low interest rates well you won't just refinance not problem. If you're ready to buy, don't let interest rates hold you back. You can still find the right home. Team up with a Ramsey-trusted agent who will help you navigate your local market

by going to RamseySolutions.com slash agent. RamseySolutions.com slash agent. Sam's in Madison, Wisconsin. Hi, Sam. Welcome to the Ramsey Show. Hi, Dave and Christina. Thank you so much for taking my call. Sure. What's up? Well, I'll get right to the point here. My mother is 82 years old. Give you a little background on her. She's a person who likes to have a lot of control.

She's been a good saver. She has no tolerance for risk. She worries too much about taxes and government. One thing that she wants to do is she wants to honor what my dad's wishes were to try to have an inheritance for the kids. But what she has accumulated, she looks at it kind of two piles. There's six of us kids. One is disabled. So she's set aside money separately for her.

And she's done a really good job at saving, but really has invested next to nothing. How much might she have? Round number is about $450,000. Ooh, okay. Okay. She's got the only thing that she really has that's invested is an annuity, which I think was my dad's retirement. What's she living on? Social Security.

So she doesn't touch this money? She's been drawing down on that account because literally she's, you wouldn't believe the cash situation, but it's basically in savings accounts, she literally has $100,000 in her safety deposit box. Okay, that wasn't what I asked. Is she living on Social Security? You said no, she's drawing down on the money. Well, yeah, she's living on Social Security, yes,

but she also is drawing on that money because in her mind, if there's money in like that annuity, it's going to go to taxes when she dies and stuff. Where does the money go when she draws it? Into the safe deposit box? She takes it in cash and stuffs it away. Okay. So she actually is meeting her monthly needs with Social Security,

and the rest of this is paranoid gyrations. It is, yeah. And between that, my sister still lives with her. What's the nature of your sister's disability? She's got both some physical and cognitive disabilities. I'd say, you know, she's cognitively about like what a sixth grader might be. So she will not be taking care of herself. Okay.

Now, so what overall is your question? How can we help? Well, my mom's concerned that what her and my dad talked about before he passed away five years ago was he wants to be able to leave money to the kids, which I tell her he or you have already done that because they deeded the house over to us kids. There's not enough. There's not enough. I'm not sure what you mean. There's not enough money to leave the kids.

The disabled child is going to need the $450,000. The rest of you aren't going to get anything. Yes. Yes, and what her will, how she's got her will rolled up, is that she has one-sixth going to four of my siblings and then a third going to me, and it's always been the understanding that half of what I'm getting is going to go towards being able to supplement my sister's care. It's not enough because your sister's care is going to take more than that. If you bring in someone to take care of your sister, your sister's care is going to be $50,000 a year.

Yes. And that requires a $500 thousand dollar nest egg at ten percent yes so your brothers and sisters don't need to get anything it all needs to go to your sister and i i would agree with that completely in a trust in a trust and then you're going to have to invest it wisely which your mom has not done yeah and i don't know that i can convince her to do that well how can i help you today then she's still there um well i'm not sure when somebody uh you know here's the thing here's what i would do i would sit down with her and say hey mom 450 000 at 10 makes 45 000 that's what it's going to take to

take care of sis nobody else needs to get anything but sis you need to rewrite your will today to leave the money into a trust to sis and i'll take care of the trust and i'll take care of sis with that money but none of the rest of us need to get any money that the child that's disabled needs the money mom you got to take care of her first you don't have enough money to do all of it mom it's not there this is plain speaking to your mom nobody talks to your mom plain she runs around acting crazy and y'all all hide your eyes yeah you're probably right there yeah mom you're being crazy stop it we need to take care of sis you need to get this will redone

because if you don't then sis is not going to have enough money we have to take care of her mom this is an emergency you're 82 we need to get this will done this week i don't need the money my brothers and sisters don't need the money you have to take care of her mom you can't be crazy anymore you've got to do this this is what it needs to sound like you've got to do this. This is what it needs to sound like. You've got to be very piercing and kind, not yell at her, but you have to, you know, dancing around the way you have with me on the phone is what you do with her. And you've got to stop that. That's good. That's powerful. Those conversations are hard, but I mean, I think that you towed a very good balanced line. I think people have to have the conversations and I mean, maybe shouldn't tell your mom she's crazy but mom if you don't well you don't tell her she's crazy but have the conversation i thought i said quit acting crazy but because she is acting crazy you don't have

to be crazy to act crazy i'm crazy i act crazy sometimes i'm not crazy but the uh but yeah i mean you're acting crazy stop it it's not working you know this is putting money in a safe deposit box come on i mean seriously watching the dadgum news too much conspiracy theory breath oh my god the world's caving in trump's fault or biden's fault or whatever the aliens are coming and oh my god the safe deposit box not going to protect you from any of that and then that getting that money out of that safe deposit box when she dies may be a real chore legally and have that dadgum money's trapped in there this is a horrible plan and what what the reason you got to get the reason you got to raise the pitch up is there's a disabled person who's

counting on this money it's for them that we're fighting yes that's so good and i i mean in that situation like the mom has probably convinced herself that she is right and I think it's going to take one of those very straightforward conversations before or that but you got to be straightforward with it well I mean you start nice like we do here on the air and then you turn up the heat like we do here on the air I mean you can start nice and then by the end of it you're like would you stop it you're being nuts you know and just you know you gotta guess seriously you got the the thing is this has been going on for a long time and so shifting piercing through this behavior this fog of weirdness is gonna take a little bit of effort and he's he's he can do it he can do it and uh i'm never suggesting you'd be mean to

your 82 year old mom that's not what i'm saying but we have to do she has to do it and uh i'm never suggesting you'd be mean to your 82 year old mom that's not what i'm saying but we have to do she has to do what's right for this disabled child this is too important and if you leave this money to the other kid and other kid goes and buys a cadillac with it and then disabled sister doesn't have the money to eat that's morally wrong this is the Ramsey Show. Christina Ellis, Ramsey Personality, is my co-host today here on The Ramsey Show. Hey, guys, if you want to do something to help us out, we would actually appreciate it a lot. There's a couple things you can do. Number one, if you're listening on a podcast or on YouTube, subscribe or follow.

Make us part of your daily or weekly routine. When you do that, it helps the algorithm on the Internet cause things to pop up in front of people. And we just found out last week, this show last week was the 19th largest podcast in the world out of all podcasts. And there's like 2 million of them by the way so thank you for that and that's because you guys keep spreading the word we appreciate that you also spread the word by uh sharing you can share the link on youtube or share the link on the podcast or spotify or apple or whatever google whatever it is you're using right and share that

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We'd love to have that. We appreciate the help. Those things really do make a difference. And if you want to take 10 seconds or 15 seconds and go subscribe you know share it leave a review we would really really appreciate it in the lobby of ramsey solutions on the debt-free stage david and jessica are with us hey guys how are you good you better than we deserve welcome where do y'all live ulysses nebraska no ulysses nebraska i would ask what that's near but in nebr, nothing's near nothing, is it?

That's true. What is it near? Close to Lincoln. Lincoln. How far from Lincoln? Four hours? 45 minutes. Oh, that's not bad.

Okay, that's close in Nebraska. Wow, very cool. Good to have you guys. How much debt have you paid? $188,000. Rowdy. Love it. How long did this take?

Right under three years, two years and 11 months. Good for you guys. And your range of income during that time? We started about 95,000 and we are at 210 now. Good for you. What do you all do for a living? I haul fuel and propane. Okay.

I'm a product manager for an IT company. So what did you do to double your dadgum income one of you took a job that didn't have one or what no he he took a new job and i got three promotions over the pandemic so it just kept moving up pandemic was good to me okay i like it so the new job hauling the propane is a better paying job huh Very cool. Good for you guys. Well done. What kind of debt is the $188,000? A big, big chunk of it is student loans. So almost half of it was student loans. What was the rest of it?

Credit cards, car, house stuff. Oh, you paid off your house? No, not quite. Not all of it. Oh, house stuff. House project. Oh, that's like Target. Okay.

House stuff. Okay. Wow. HVAC. HVAC. Oh, yuck. Okay. Wow. You's stuff? Okay. Wow. HVAC. HVAC. Oh, yuck. Okay. Wow.

You guys were normal. You had a pile of mess. Yep. Yes. What woke you up and what caused you to do this three years ago? For me, it was we couldn't buy one HVAC unit. We have two in our house and one, we had to block off part of our house. So it was a mess yeah we we had all this debt

and we bought what we thought was going to be our dream home but it was a fixer-upper and we had no way to fix it up really um and so we had i remember at one point we didn't have a working bathroom our you know we move in our old house sold we didn't have a working bathroom we had one room that was livable and we had no really way to fund this and do all this while we had all this other debt so yeah we were we worked five jobs between the two of us for two years wow um working at the bar at one point i think someone asked us if we owned the bar because we were both he was cooking and i was serving and we were just doing that on the nights after our full no no right now it owns us but yeah yeah and then i think one point snow i remember i'll never forget a moment that the snow was coming in through a hole in one of the walls of this is our dream home now it's

beautiful but and i was just looking at him i'm like we we have to get rid of this debt so that we can have a house for our family and start a family so that was really um that was a big moment for us so wow that's a mess yes it was a mess i mean really that's goodness gracious what you're describing i mean in the in the south where it's warm most of the time that but in nebraska no the snow's coming in oh my gosh yeah and i think the big thing was we were in that house and we found out we were expecting and it wasn't livable so we were like we don't have a choice to just kind of half dave ramsey this anymore um so we kicked it kicked it into gear and now we have a what turned the corner what was the breakthrough the breakout paying off our credit cards i think was a big thing seeing we could get those down yeah that was that was but you look up you took different jobs i mean that's part of it yes right and you

kicked your income double moving our shovel helped a lot yeah extra hundred grand coming in that'll move the needle yeah yeah so i'm curious you're you're in the midst of you know half the house is not is not warm like you don't have an h're you're in the midst of you know half the house is not is not warm like you don't have an h-bag you're sitting in all of this stress and financial anxiety how did you find us like what really jump-started you on the program we listened to the podcast a lot we had lots of driving families in kansas city and yeah we would listen in the car and i'm just kind of a nerd with podcasts and stuff anyways so we'd listen and we're like we can we can do this we can do this kept taking more jobs and shifts and stuff like that and listening

now the house is completely repaired too yeah we have a beautiful dream home now you would not expect from what we've moved into to there's what it is now yes man oh wow wow they put it up on youtube yeah thanks for the hint yeah that's i look over at my monitor there it is yeah It is. Wow. Yes. Oh, wow. Look at it. Wow. They put it up on YouTube. Yeah. Thanks for the hint. Yeah. Look over at my monitor. There it is.

The befores are disgusting, though. Wow. That's very cool. Very cool. Wow. Wow, that's before and after then. Yeah. That's traumatic.

Oh, man. Well, way to go, guys. That's incredible. So this was a big process for y'all. That's a lot of debt, lots of work. Who are your biggest cheerleaders during all this I think the biggest thing I mean we had we had a baby and we actually have two now so in those last three years we have two little toddlers but our family and we've got our his sister and brother-in-law and they were just really supportive they thought we were a little crazy some of them when they saw the house and what we were trying

to do but so supportive and that was a big help well you were a little crazy oh my gosh or dumb but look at me now look at me now now i got a nice place and i've worked my way out of this you guys are animals man i mean you clawed you did it i'm so proud of you it's very impressive thank you it really is. I mean, you turned this thing around. It was looking pretty bleak there for a minute. So at the end of the day, when someone says, how did you do that? You paid off $188,000 in three years.

What is the main thing someone wants to do if they want to get out of debt? I'll start. You add $100,000 to your income. That's helpful. Okay. Go get six jobs, and better jobs go to work yeah go to work work extra we but we use the every dollar app a lot um i think breaking it up into increments helped and having small celebrations together i really struggled seeing how much student loan debt we had and like how we were going to get through all that seemed never ending and just having a system support system to talk to when we're like this is never going to end so you know most of the time when i do something like this or i meet the people that

have done it it's like when you start this and you're looking up at this 188 000 mountain yeah it's like how in the how are we going to get up there yeah and now that you're standing up there you're like oh it's not a thing isn't it funny how our minds work like that because now that you've done it you're like it wasn't as bad as i thought it was going to be is that right or not so true yes it did not feel that way at the beginning no it doesn't i don't want to feel that way halfway up no and i don't want to do it again never so yeah next time somebody says dream house you're gonna hit them yeah you know it's like with a base bomb that's it right there right in the face that's it no no don't dream house me no please don't dream out

yeah that's that's very good you guys hey we got the live and give bundle for you the baby steps millionaires book the total money makeover book both number one best sellers enjoy them or give them away the same with the Financial Peace University membership. We're so proud of y'all. What a great story. You're a power couple, man. I love it. All right.

It's David and Jessica from Nebraska. $188,000 paid off. Wow. Three years, making $95,000, ended at $210,000. See the difference? Count it down. Let's hear a debt-free scream. Three, two, one. We're debt-free scream three two one we're debt-free yeah

boom man oh man oh man talk about somebody changing their life that's powerful y'all well done this isis ramsey personality is my co-host today open phones at 888-825-5225 so christina first you decided you were gonna do no spending yep no spend january now what what are you doing now so we did no spend January. We did frugal February. So we've had Instagram community trying from here, doing it with us. And it's been really cool seeing people learn to spend less. But one of the things that people's been struggling with is telling themselves no. And that was kind of the purpose of doing this, right? So that we would all get in the habit of telling ourselves no. But it's been pretty cool on Instagram having

some pretty deep DMs with people where they're like, man, I fell into temptation again. I just didn't tell myself no. How do I get to where I tell myself no? So somebody sent me something on Instagram that I thought was pretty cool. My husband went and hunted it down. And it's called the Just Say No button. And it's kind of, you you know so many people listen to the show to have you kick their booties into shape and to tell them no and i found this little button no and it's like sounds like a cow it's like people can have you in their pockets do it again so if you're walking around through life and you're like

on baby step one and you're thinking should i go out to eat tonight should i buy this random kitchen gadget on amazon this is my last word. No! We need to get this remade with my voice. We could sell a bunch of them. I said no! Right? It sounds almost like you. Should we go on vacation in Baby Step 2? No!

Should I lend money to my family no should i use my credit card if i'll pay it off each month n o no where did you get this it's got you got it you're like amazon right actually you didn't say no you bought the the no button. We found it at Target. Oh, so great. We were also thinking like maybe it could be like one of those like game show buzzers, especially when you're not in town. If a caller calls in and they're like, so I know you normally don't recommend car loans, but in my situation, bam.

No means no. This is so great. Our audio guys really ought to be able to reprogram that with our voices, like Jade and me and you. Rachel Cruz going, well, no. I think the tribe would love it. It would help people say no. It would be so funny funny no is a secret weapon

so are we going to do a whole month of this or you're just going to sell these buttons probably just sell these but you're not even selling them we don't even have them i think we need a dave button like this it's kind of a pitch for a day we could even like put it in the every dollar app or maybe attach it to the rachel cruz wallet you know we could just instead of selling it we could just make an app. There we go. And it would be free and just let people hit the app button. No! No is a complete sentence.

You're ready to go, Dave. It's the ancient word that no one hears in America. And it gives you great power when you can say this. You push your tongue towards the roof of your mouth no you release air and you say no you're really good at saying it dave i think we can equip the tribe i'm really good at this i have a i have a spiritual gift of no the spiritual gift of no and hey you know what you say no so you can say yes later and dave will help you with it yeah you say yeah that's exactly what the only reason i did say no ever so just so

i could say yes later more generosity more enjoyment more blessings uh and they only come if you say no now let's live like no one else so that later you can live like no one else and you need a no button to do that i'm afraid we just sold 10 million of them for tarjay but oh well i wasn't going to mention whether that fine french store is tarjay it's a red button somebody had the easy button that's like staples or something right they had the easy button and this is the opposite yeah we need this is the hard button but this one actually works and this hard button pays off this is how you get wealthy so you're just going to use this on your instagram dms now anybody who reaches out and they're just struggling then i'll just be like

no no no a thousand times no or if me and rachel are on air and we're having a hard time being as raw as we need to be no no that one sounds like a cow that one there we go we got to get the aggressive one ready you got to get the cow out there then no that one's bad i don't like that one but the rest of them are fabulous that's so good everybody should have one in their pocket. If you ever need a good hard no, if you need all the spenders out there that are struggling to keep their budget in check, this is for you. This is for me. This is for Rachel. This is for all of us who need to hear a good. This is my last word.

No. You've had way too much fun parent needs one what did i tell you it's a complete sentence no you think i don't have integrity and you asked me 64 times you think the answer is going to change no all of this that's so great. So there we go. Everybody who's asked, that's how you say no. You know, in a culture where really no one knows how to say no anymore, everyone says yes to crazy stuff. We don't ever say, hey, the emperor has no clothes.

That's nuts. You people have lost your minds, you nutburgers. No one says it anymore, you know. You don't even look in the mirror at yourself and go i i think i should deny myself something so that i can have more later no no that's not not in a culture that functions in deeply into immaturity one definition of maturity is learning to delay pleasure and you have to hit the no button oh that's so good and i'm like anything related to student loan debt, I should just be ready. No!

Take them off the table. It's always a no. I love it. I'm going to wait on Biden to... No! You can do preemptive no strikes. Just halfway through the question. No! Don't even need to finish the sentence we just

we need to do a like a speed segment where nobody just bring up whatever they want to ask just no oh it's just too fun very well ready for it oh i can't get my breath i'm gonna be sore from this uh well i mean that's also just part of why why our country's in so much credit card debt the the marketers they all know that people struggle to say no and you have built a business on teaching people to say no that you can do it yeah you can delay gratification you can wait wait. Yeah, it's, wow. My children hate you, Dave, but we're doing really well. My teenage, there was a, I remember the first time it came up a thousand years ago.

You remember there was this thing called MySpace? Oh, gosh, I am old enough to remember that. Yeah, MySpace, yeah. It was like around the time Facebook came out, right? That's where my husband and I started chatting. MySpace, a MySpace group of teenagers popped up. That was the I Hate Dave Ramsey teenage group. And they all got on MySpace to whine because their parents were on Dave Ramsey budgets.

And it was the same thing. They heard you say. No. That was it. Well, they heard their parents say that because i trained them yes and the point though i mean we need to reiterate this again in the middle of all this fun is there's a reason to say no it's not just to say no it's to say it's so we can say yes later it really means not now not yet it could mean just no i mean you know no we're not leasing a car but i mean it could mean we're gonna get a a car a different way later in a smart way.

And wisdom always moves slower than stupid. Stupid is always faster than wisdom. Yep. And no slows you down. It taps the brakes on that. That's powerful. I was talking to a group of kids yesterday, and that was the message I was trying to get across to them is, you know, don't take out student loans. Say no now.

And I know that may sound boring, but the reason you're doing it is so that you can say yes later. By 35, you could possibly be a millionaire. That's amazing. That's what we're saying yes to. By saying no now, we're saying yes to an amazing future. Oh, it's too good. One more time. N-O-No.

Too much. Christine Ellis, Ramsey Personality, bringing the philosophical side to the story. Deep conversations. This is The Ramsey way. Just go to RamseySolutions.com today to sign up for our newsletter. Again, that's RamseySolutions.com to sign up for our weekly newsletter.