The Ramsey Show - App - The Best Calls of the Year So Far (Part 2) (Hour 3)

Episode Date: September 15, 2023

МУЗЫКАЛЬНАЯ ЗАСТАВКА МУЗЫКАЛЬНАЯ ЗАСТАВКА Live from the headquarters of Ramsey Solutions, it's The Ramsey Show, where we help people build wealth, do work that they love, and create actual amazing relationships. Ken Coleman, Ramsey personality, number one best-selling author of the book Paycheck to Purpose, host of The Ken Coleman Show, where he talks about your career, your work, all the time, every day, is my co-host today. So you want to talk about those subjects, he's here for you, and I'll try to stumble around and cover some of it too.

The phone number is 888-825-5225. The call and the advice is free, and some say it's worth exactly what you pay for it. Dana is with us in Pittsburgh. Hey, Dana, welcome to The Ramsey Show. Hi. I'm so excited. Well, we're excited. How can we help?

Well, I recently, first off, I watch you all the time. You, Rachel, Dr. John, George, love you guys. You've saved my life in many ways. Thank you so much. I truly respect all of you. Well, thank you. Absolutely. So I saw something the other day that said poor people use debit cards.

Rich people use credit cards. I don't have any credit cards. I don't have any debt. I have great investments. I have money saved up. I only have living expenses. I have a credit cards. I don't have any debt. I have great investments. I have money saved up. I only have living expenses. I have a great job. I don't have any credit cards. Should I? Well, I don't know who said that. I guess it sounds like you ought to stay off of TikTok. Yeah. You didn't see that at a Cracker Barrel, did you?

No, you didn't see it at Cracker Barrel yeah you wouldn't have seen it there uh you wouldn't have seen it where actual rich people hang out or actual poor people hang out yeah so i don't know it sounded to me like they got that exactly backwards my net worth several hundred million and i hadn't had a credit card in 30 years so i don't know where they got that okay so but then don't i need a credit card to like rent a rental car or use it i haven't had a credit card i haven't need a credit card to rent a rental car? I haven't had a credit card in 30 years. Really? And I travel more than any two of you put together. So they take a debit card. Some of the situations you have to work in, not every of the rental car companies take them, no.

And there are some situations where you have to do a workaround on it but it's not this idea that you you know so here's the thing people get credit cards for mainly one reason so they can buy crap they don't have the money to buy right and then they justify it going well i need to build my credit that That's what they say. Because that's what rich people do. Rich people build their credit. Bull crap! All the rich people that we interview say they get out of debt and stay out of debt. And that's how they got rich.

They don't pay payments all the time. Because see, there's only one way to build your credit, go in debt, right? Right. Why? So you can build your credit. Why? So I can go into debt. Why?

So I can build my credit. Why? So I can go into debt. Why? So I can build my credit. It's a dog chasing its tail. It's called the great FICO scam So that that's my FICO score in 30 years Really? Yeah, really mine's mine's that that they said I don't exist. I'm not here. I'm off the grid Wow, cuz I don't have any credit i don't have any i have had no interaction with debt in well over 30 years of any kind and so i have zero on my credit bureau report so i have a zero credit score they say it's indeterminable i call it zero right dana what do you think you need credit for what do you think you need a credit score for right now if i want to buy a house one day not true you have to talk to george campbell he bought a house with zero credit score yeah and he got a mortgage by the

way yeah he did it with manual underwriting it's called with churchill mortgage and got the same interest rate that people with an 800 score would have gotten but you know george did don't you they turn around paid the house off and so at 32 years old he and whitney are millionaires so you know that that's what they did and it wasn't because he makes a bazillion dollars here because i don't pay that good actually i do but george was george got it paid off for he started making bank so there you go but anyway and whitney whitney makes up the oh yeah two good incomes there that's it but anyway they uh yeah so no dana it's a scam and whoever said that i mean listen you got to be careful where you take financial advice broke people walk around all the time with financial advice.

Don't take financial advice from broke people. I mean, it's just crazy. You know, your broke finance professor in college is telling you how you need to do stuff, and he's got no money. A broke finance professor is like a shop teacher with missing fingers. I mean, come on. Yeah. There's issues here.

So, yeah. All right, open phones, folks, at 888-825-5225. You know, Kent, what's interesting is if you look around, you say, okay, the vast majority of the population is something I don't want to be. Yeah. Then don't do what they're doing. That's right. The vast majority of them look good and have no money.

They have cars they can't afford, vacations that they're still paying for after they got home. Their net worth is horrible. They're counting on the government to provide for them when they get to retirement because they're not saving for retirement. Their children are a student loan looking for a place to happen because they're not saving for college. This is normal in America. 78% of Americans live paycheck to paycheck that means 78 of americans are not worthy to give out financial advice because they're freaking broke so when

your broke friends have an opinion just smile yeah no thank you that'd be like me having an opinion on growing hair on my head yeah yeah that'd be dumb yeah i mean if i you know there's none up there well you could be an expert on what not to do yeah but i don't even know what caused i know you did you know i can claim it's dna so here's what's going on dave we live in a world claim it's going broke i could claim my hair fell out for a lot of reasons but at the end of the day i'm not good at growing it on the top of my head so you should not take my hair on top of your head advice so So here's what I want people to hear. Just because it's marketed so heavily and everybody else has bought it doesn't mean it's true.

We have marketing messages that have been going on for decades. You pick an area of life where you see a commercial. Let's take the prescription drugs. They are marketing these things are good for you, but the list of side effects are longer than the actual thing it's helping. But they market it with these happy, ebullient people in the commercial. When half of the commercial is the disclaimer.

You know. Let's just know. And so it's marketing. And so, you know, we've got to understand that it's been marketed to you that you need a credit score. It has been marketed over and over and over. Debt is the most aggressively marketed product by time spent on the air, dollars spent on advertising of any product in history of humans.

This is exactly right. MasterCard, Visa, and American Express's combined marketing budget is billions a year. It's way more than beer right it's way more than i don't know cars put all the car companies together it's a tenth of what the credit card just the credit just the three credit card companies i'm not talking about people like sovi who also advertise to get you into debt or other people like this it's nothing like that i mean bank of america god help us you know i mean put all those budgets together to get you into debt oh my god it is the most marketed product in the history of the world and guess what it's also the most purchased that's why this show is so popular because people are up to their

eyeballs and can't breathe highest percentage dave of all time of six-figure earners that are living paycheck to paycheck. And it's largely credit card debt. Man, when I was a kid, if you made $100,000 a year, you were automatically rich. Yeah. Now you're just automatically in debt. This is The Ramsey Show. Thank you for joining us, America. Dr. John Deloney, Ramsey Personality, is my co-host today.

The question of the day is brought to you by Neighborly, your hub for home services. Spring is here, and Neighborly can help keep your home and yard in top shape. With the ground skies, Mosquito Joe, Lawn Pride, Molly Maid, and more. So spend time enjoying your home, not working on it. Go to Neighborly.com and find the service pros in your area. All right. Today's question comes from Clark in Los Angeles. Clark writes, we have $3,600 in our bank account, but my wife wants to join a six week MLM training course for $10,000. It's her way or the highway on this. She was approved for a $5,000 credit card and she applied for a $2,000 loan with our bank.

The deposit on the course is $3,000, which she would take from our checking, leaving us with $600 in the bank. Then there's the payment plan. She's already been doing MLM for four years, which we have made zero profit on. Am I crazy to be mad about her on this matter i need your help dave i'm actually mad for clark like it is frustrating it's frustrating this is somebody who's out of control yeah yeah it is out of control and the the one of the most aggravating things about people that get into mlms not everyone but but but some people that get in it they take on this cult-like thing to where if you're not in

it then you must be stupid and if you don't understand what i'm doing then you're not in it, then you must be stupid. And if you don't understand what I'm doing, then you're an idiot. Because only people that are smart do, I mean, all the smart people do this stuff. And if you don't understand, and they actually, some of the MLMs really, some of the hierarchies within certain MLMs will push that mentality. We caught Mary Kay about 15 years ago. I don't know if they still do it or not they were telling ladies to uh use their credit card to buy the stuff and not tell their husband they're telling them from the stage to lie to their husband yikes and i'm like man that's some bad medicine right there

ladies you guys are you guys are freaks this is nutty that's total greed run amok well that's looking in your checking account you're yeah sixty four hundred dollars off like i everything you've mentioned says that um that this entire plan is stupid. Okay? It's out of control. But juiced up with a wife that says, I'm doing this because this is my way. Even though there's absolutely no track record in four years that she's ever made any money doing it. And there's no way to get this money. They might get this $2,000 loan, but, I mean, the exposure to the whole family over this deal. Yeah, and she's putting everyone's she's putting aside common sense she's putting aside good financial decisions her marriage fidelity aside her uh her husband's wishes she's putting aside the good of her own

family all for her to chase this greed and this is greed make no mistake oh yeah because this is i'm going to do this and then i'm going to be able to buy a yacht i'm going to live the dream as the mlm people say and so uh that that that is straight up greed and when you and when you push everyone including common sense good financial sense your husband's wishes the good of your family aside for your selfish greed you are a mess you're a hot mess lady yeah yeah you're messed up so now what does clark do i think you guys have got to see a marriage counselor i think instantaneously because i i always tell couples man you be real careful with my way or the highway my way or the highway because people choose a highway that's exactly right and use that for very very rare circumstances and um she pulled it on an mlm training course

like that's like that's like that's a pretty big waste of that set of ammunition like being in vegas and they you're playing texas hold them and they give you a two and a six and you're just like i'm all in like that's a bold move with this. So, Dave, just because Clark's the only one we got here, right? She's not a part of this conversation. If he has outlined it correctly, they got serious issues. There's no question they got serious issues. This also feels like a power play,

and sometimes there's power plays because people have lost their mind. They're jerks. They're nuts. They bought into something that is a cult and they can't see the forest for the trees. Sometimes people smash the other side of the teeter-totter because somebody else in the marriage has been holding it down for so long and so long and so long and so long. And so Clark, if that's you, if you have completely wrapped this house up in, this is my way or the highway. And she finally says enough, this is my way or the highway. Um, if that's you, if you have completely wrapped this house up in this is my way or the highway, and she finally says enough, this is my way or the highway, then that's something you need to put on the table. You may have reaped what you've sown.

There you go. But if not, brother, I'm sorry. I would go see somebody this week. And if she won't go, you need to go by yourself because it looks like y'all are heading in completely different directions. Yeah. This marriage does not last. not without help nope this does not help does not last okay because she's she's ready to burn the place down for a dream that has absolutely no underpinning whatsoever and um she's ready to burn your family, burn you, burn the finances,

burn everything, burn the marriage all over a training course for MLM. Does that not sound like the dumbest thing you ever heard in your life? I'm getting ready to end every part of my life that's positive for that, that, that, let me tell you, if you're in an MLM and you're recommending that your people downline do that, you should have your butt kicked up around your neck and wear it like a collar. You really should have somebody talk to you. You're hurting people. You're hurting people. You are a manipulative, unbelievable jerk.

And you've got to stop that. And you're the reason that people hate MLMs is people like you that do that. Now, I actually know a few human beings in MLMs that are reasonable human beings. Absolutely. And they don't think I'm going to hell because I'm not in their MLM. It's not a cult, you know? They believe in their products. They believe in their products, and it's their method of selling it,

and I'm not mad at them. That's not the point. The point is that something about the MLM culture generates, ever so often, a company or a hierarchy within a company that promotes this kind of crap well it goes back to what i think it makes me think of like blockbuster they made their money when their customers lost they made their money on late fees and they needed their customer to fail so that they could make their money not the other way around if you're teaching people i lie to your husbands then you are making your

money off a marriage that's going to fall apart you're making money off deception you're making money of hurting people and there will be an end game to your business you have to be about how can we help you not how can we lie to you what's the long play absolutely how does everyone end up more whole healthy and prosperous when we're done otherwise your business will go if it's not about helping people yeah so i'll give you an example. All right. To go to Entree Leadership Master Series, I think the tickets are gone for platinum for April of next year.

Okay. There'll be about 3,000 people there. There'll be some of the top speakers in the world and teachers in the world. I'm very, very proud of what we will be doing. But to sit in a platinum seat is just under $10,000. If you call me up and you say the way you're going to go to platinum, as good as platinum is, and it might be in the platinum experiences, and as good as Entrez Leadership Master Series is,

might be the best leadership conference in America today, bar none. I mean, I'm so proud of what we do there. We just completed one. You've got high marks on your speaking there. It's absolutely incredible. Dr. Jordan Peterson, Willie Robertson were there with us, and Malcolm Gladwell were there with us. It was an incredible, incredible event. And we had guys on the front row that paid almost $10,000 a piece to be sitting there in that platinum section. If you call me up and you say the way you're going to come and sit in the platinum section at Entrez Leadership, as proud as as i am of it and as i know it's worth every dime is that you're going to clean out your

bank account down to six hundred dollars and you're going to go against your spouse's wishes i'm going to tell you i don't want you as a customer and you're borrowing seven thousand yeah you need to stay home absolutely you know i do not want your money you need to stay home because i don't want your marriage's blood on my hands i don't i don't this is not what i do right i don't do i mean i i sell something like a ten thousand dollar weekend is my point and never one time have we knowingly accepted a situation like this and encouraged this is the way to get ten thousand dollars out of somebody nope nope don't need the money that bad boys and girls i gotta sleep later It's not that hard a life, you know. This is just wrong.

So, honey, Clark, get your marriage counselor. Because when your wife says my way or the highway on anything, this is known as a flare was just shot up off the deck of the boat. Warning, warning. And that boat is going down. This is The Ramsey Show. Rachel Cruz, Ramsey personality, number one bestselling author. My daughter is my co-host today. Be sure and check her and George out. The Smart Money Happy Hour has a once a week podcast drop. It drops on Thursday, right? Yes yes every thursday every thursday if you want

to figure out what these two are drinking i mean uh what their advice is you can find it out there and cocktails so you get both yeah i just i'm a little i saw on social media i don't see much on social media but i was thumbing through my insta what do you call that the gram no you're right it's the insta the gram the gram And there's a little kid, 10 years old. Yeah. Drinking the mocktail that you all taught him to make on Smart Money Happier. So I think you're causing juvenile delinquency. No!

That's what I'm thinking. There was no alcohol in it. It was probably muddled strawberries with some mints. No, it was the one with a, it was like a float. It had like ice cream or something. Oh, yeah. I mean, yeah, we have fun. Yeah, yeah, yeah.

Listen, you need something fun. I think you're causing problems with the youth of America. While you talk about pop culture and money. And hey, we get messages all the time that six-year-olds, seven-year-olds love the show and even like 80-year-olds love the show. And you're teaching them to drink. No, we're not. We're not teaching them to drink. that six-year-old seven-year-olds love the show and even like 80 year olds love the show teaching them to drink we got no we're not it's not a show about drinking people i'm just kidding it's a drink of the day and it's because it's happy hour sometimes so check it out it's always fun and

funny because george and rachel are if anything they're fun if anything they're always fun so be sure to check it out I think somebody wishes we talked about money a little bit more and a little less fun sometimes but we have a lot of it's kind of in the title smart money happy hour there's that yeah okay so I'm just just holding you accountable to that that's all open phones at 888-825-5225. Madison is in Des Moines, Iowa. Hi, Madison. How are you?

Hey, good. Thanks for having me, guys. Sure. What's up? So my question is, I have a camper that I'm renting out and making good money on, but we're living in a dumpy house, and we got a lot of debt that we need to tackle. So should I sell that camper and make, get like $15,000 back plus get rid of that loan debt and put that on my current debt? Or should I move my family into the camper and kind of use that as our, use it as a way to decrease our expenses okay i'm a little bit unclear how you

rent out campers for money what's going on to explain that to me yeah oh yeah there's some great uh websites that you can go it's kind of like an airbnb oh so it's like a camper uber okay that's right yeah so i just uh drop it off people, and they rent it for a weekend or something. My God, what will they come up with next? Okay, I didn't know. I just learned something. Okay. So what is it?

How much do you make on that? I'm just curious. I'm going to tell you to sell it anyway, but how much do you make on it? I've been making about a grand a week, which has been nice extra cash for us. What's it worth? The camper is worth $43,000 43 000 how much you owe i owe 25 000 25 000 every week you're making a thousand dollars every week that it's rented i would say oh well no kidding how many weeks is it rented uh most weeks i I probably, at least three weeks a month. And is that year-round, though, Madison, or is that just because of the summer?

Just because of the summer. Okay. I have been looking into shipping it down south and have to do that. So you're not making $52,000 a year, $1,000 a week. You're making $20,000 a year. Yes. Okay. All right.

That's helpful because I was about to just have a coronary over here, about to go into camper business. But anyway, the, no, yeah, sell it. Listen, you're not in a position to be in the camper investment, A or B and B business. You're broke. Yeah. Yeah. That's what you already knew.

I just said it more broadly. How much debt do you guys have, Madison, total? Combined with me and my husband, we about 140 000 on what um uh we have a business that we started and that's been doing really well but to the startup cost for that was uh we have about 15 000 left on that we have a vehicle i have student loans um how much you owe on the vehicle the vehicle about 40 000 what do you owe on the vehicle? The vehicle, about $40,000. What do you owe on the student loans? $45,000. Okay.

How much do you guys make a year? About $144,000. And then you owe $20,000 on the camper? $25,000 on the camper. $25,000 on the camper. That gets us to $140,000. Okay. Hey, and your household income is what?

$144,000. And you're in a dumpy house? Yeah, we are renting because we moved back from Florida. We're not sure what to do with the business. But we really need to have a place that we have the business at home because it's so inconvenient right now. The house is not in the best best shape not in the best neighborhood you don't have two years tax returns on the business though do you

i don't have uh my tax returns the cpa that i hired no i mean you haven't had the business two years have you i have it's in the third year right now okay did you make enough in the two years on your tax returns when you do get them done to take them to the mortgage company and get a mortgage for a house? Yes. Okay. So if you sold the camper and you tore into the debt and knocked out the debt and then saved up a down payment and you sold a car, you could be debt-free in less than a year and start talking about buying a house

yes how's that sound we're at now yeah that sounds pretty good okay yeah madison if i were you guys i would just sell like sell whatever you can sell the camper sell the car like all that stuff you can rebuy later sell both cats but it's like just get rid of stuff and i mean obviously the student loan and the business loan those are still going to be around but knock those two out and yeah and i think you guys are going to be in a totally different position i think it's a good just mental exercise for you guys just to get you've been carrying around all this stuff that's equated to carrying around debt and just getting rid of some of it i think it's going to bring you

a lot of peace it's kind of a minimalism move for you guys yeah and and yeah and and you're the thing is you're just entrepreneurial and you see something shiny and you jump on it yeah that's how the camper thing happened and then oh and then i could go over and do this and i can do that and i could do this and then all of a sudden your life got real cluttered yeah that's exactly right well the camper we bought because we moved into it and we were living in it for a while and then we have three kids that didn't work so we decided the adventure was over but now we're in the house and that's not working either so well let's let's have a one year to 18 month plan to be 100 debt free with an emergency fund and a down payment because you're making really good money and get real

focused with a budget to do all this and then sell everything in sight sell so much stuff the kids think they're next and really get in gear here and let's get this stuff done rachel's exactly right that's what i would do because i can see what the thing is that that with the the cluttered approach the chaotic approach that you've used to money so far has uh kind of made you feel like you're never going to get there and we can see the numbers where you're really going to get there very fast if you take these dramatic moves. Yeah, absolutely. And I think it's going to bring you guys a level of peace and control

that you just haven't had, Madison. But of $140,000, $80,000 is a camper and a car. Right, that's what I'm saying. So I'm like, it's amazing just like removing some of that, you know, and then you put your life on top of Madison with three kids and you guys are working, you're starting a business. I mean, you guys have a lot of moving pieces in your life anyways. And so just simplifying and getting stuff out, I think is going to feel really cleansing to you guys in more ways than just the financial. I think it's

really going to be helpful. And then working a plan and being intense on that plan, seeing progress and goals. You guys are really goal oriented. So you're going to start to feel that traction. And I think you guys are going to kill it. I mean, I think you're going to do great. Yeah, that's very good. You really got the potential if you just but you're going to have to make some pretty dramatic shifts here in the short term to get your long term goals. But I mean, visualize three years from now, you're living in a nice home with a 15 year fixed where the payments no more than a fourth of your take-home pay. Your business is continuing to grow, and you've got no debt other than that. I can breathe that in, and that feels like a better life.

And that's not. That's worth no camper, no car. Yes, and that's not out of reach, Madison. That dream for three years, like, that's reality. That's completely doable. Yep, absolutely. Mathematically, with the math you gave us, that's doable's reality that's completely doable yeah absolutely mathematically with the math you gave us that's doable but you guys got to line up and get after it you got to

bust it and if you do that then this will this will work for you good stuff good stuff hey thank you for calling in man i love people i just learned something every day on this show it's like make money renting out a camper well i'm thinking should i forty two thousand dollar camper and you're getting a thousand dollars a week in 42 months you paid for the thing. I mean, it's 42 weeks you paid for it. It is an amazing world we live in of what you can rent out. 42 weeks you pay for the thing. Even rent out your car.

But it doesn't stay rented. I mean, you rent out everything. It took me a minute to get to the bottom of the business pro forma. But yeah, okay. Anyway, this is The Ramsey Show. Our scripture of the day matthew 6 34 therefore do not do be anxious about tomorrow for tomorrow will be anxious for itself sufficient for the day is its own trouble winston churchill said it is a mistake to try to look too far ahead the chain of destiny can only

be grasped one link at a time. Never heard that from Churchill. Interesting. Very cool. The dude had a way of words, didn't he? He's a wordsmith. Aspen is in College Station, Texas. Hi, Aspen. Welcome to The Ramsey Show. Hi, guys. Thanks for taking my call and

all you guys are doing. Thank you. How can we help? So I have kind of an interesting question. My husband is currently in school to be a veterinarian. He graduates in 10 months. We own our house debt-free except the mortgage, except he will be getting student loans hitting him right when we leave. So when we sell our house, we will have about $130,000 in equity after the sale, and he'll owe about $160,000. I was wondering if it would be okay to use about $40,000 of that $130,000 as a down payment on a house for when we move. How much student loan debt does he have?

$160,000. um how much student loan debt does he have 160 and we are currently paying on it and i believe we'll be about at 140 by the time you get 140 out of the house so you could be clear if you if you just wait to buy a house yes i would i would be clear of the student loans. Okay. That's not what you wanted to hear, but I would be. No. Because I think that here's what's going to happen, okay? You're coming out of school. You're resetting everything in your mind. You're resetting everything in your life. All the math in your life is changing.

You're going from being a student, piling up debt, to clearing debt and starting to have some serious money. And do you know where he's going to be working yet? Has he got that lined up? Yes. So he's already signed a contract, and he will start off at 130. I am currently working full-time, so we're living off my salary right now, which is more than enough.

How much is your salary? $95. And it'll be the same when you move? It'll likely be a little bit higher. I'm lined up for a promotion hopefully in the fall. I think it'll be closer to $110. So you guys are going to be making a quarter of a million dollars with not a debt in the world.

And I'm saying rent for a year. Rent for a year and pile up a huge pile of cash, and then go buy something. You will buy something different than you would stealing this $40,000 away from the student loan debt and trying to squeak into a house to go from house to house instead of renting for one year. You're moving to a new market. You'll know the market better. You can take your time in the purchase. You'll have the income stabilized. Your lives will be stabilized. You're

going to do a lot better real estate deal, a lot more accurate real estate deal for the next five years than you will do if you do what you're thinking. Understood. That's a great point. But your friends are going to think you're crazy. They already think we're crazy. It's okay.

It's okay. They're broke. And understand, your parents may say the same thing. Oh, you guys need to put a down payment. But let me tell you something. When we moved, I had three little ones. They were all, let's see, eight, call it six and five when we moved here nine years ago. And Stacey and I rented for two years because we wanted to save up a larger down payment

and two, we wanted to get a lay of the land and figure out where we were going to plant here. And so it is not unwise to rent. Can I just tell you, it gives you options. For a short period of time. Yeah, short period of time. And two is on the long end, but it worked for us. Yeah, yeah.

And like I'm saying, one year here, you're going to know the market better. You'll take your time in the purchase. You'll make a much better purchase. And your brain is going to be in a different place making a quarter of a million than it was vet school and 90. So true. And, you know, you'll adjust.

You'll go, okay, this is the right. You're going to make a better house decision that's more forward looking than jumping to jumping and and um but but everybody's so strung out about real estate i love real estate and i want you to be a homeowner but i want you to do it the right way lee is with us or leah in uh boston hi leah how are you? Yes. Hi. How are you? Thank you for taking my call. Sure. What's up? I am 43. I just turned 43. And I am thinking of going back to school for my NP, nurse practitioner.

And I just became actually, this is all my second career being a nurse. And I'm thinking about how to pay for it it's about 50 grand um and i could pay outright for it um however my income when i'm in school though it's part-time will go down a little bit as well because I won't be working as much. So I can pay for it, but in my mind, I get scared to do that, and I'm more tempted to take out loans. So you feel like you'll be more secure going into debt than you would be secure with a little less money. You're wrong.

I know I'm wrong. I know I'm wrong. I know I'm wrong. That's the thing. You know, I'm also a mom. I have one 12-year-old. Doesn't change a thing. How much money have you got in the bank, Leah? I have about like $295.

Yeah. And you're going to spend what on the nurse practitioner? 50. 50? About 50, probably a little bit over 50. You realize how ridiculous the question and the numbers you just gave me are, don't you? No, but my rent is expensive. The difference in 295 and 250.

Right. 245. In terms of taking care of a 12-year-old is laughable. But if you burn through 245, you're going to burn through 295. I love this back and forth. You've gone to the butt three times, and Dave's interrupted you. I got to hear this butt. What is the butt?

Butt, I have, you know, expenses. My rent is expensive. Do you need a princess die? No. Quarter of a million dollars of expenses? Well, no. I mean, I have, you know, I made a lot more money before this career. Now I've gone down because I hated my job before.

And now I love my job, but it came at a cost. Okay, so Leah, hold on one second. Let's look at how much are you going to make less as you're going into school? How much less will you make? Have you got that figured out as take-home? How's it going to change? Well, I used to make over $300,000. No, that's not what we're talking about. No, you said You used to make $8 million, but that doesn't matter. What do you make now that's going to go down? Yeah. I bring home about between $7,000 and $8,000 a month.

Instead, you'll be bringing home how much? Yeah. I would say about probably $6,000. Okay, so $2,000 a month. That's $24,000. Right. um i would say about probably six okay so two thousand a month that's twenty four thousand dollars right can you adjust your lifestyle to where that's not stressing you out well pull twenty four thousand out of your 295 there's that 50 out of your 295 and keep everything exactly like it is right now and go to school without borrowing you do not need to borrow money it's insanity with your numbers there's also there's also the You do not need to borrow money. It's insanity with your numbers.

There's also the. Okay, you need to go borrow money. You should go deeply in debt. I'm tired of arguing with you. You should go deeply in debt and see if you can bankrupt yourself. Oh, my God, woman, how many times have I got to argue with you? This is nuts. She's fighting hard for that loan right now.

I'm desperate to go into student loan debt. Well, go at it, lady. Go at it. That's what you need to do. my gosh yeah how in the world you're sitting on three hundred thousand dollars cash and your biggest worry is a twenty four thousand dollar shortfall and a 12 year old jeez you you're okay yeah you're okay she didn't get you didn't get there with being crazy and undisciplined to stack that kind of cash away she got there because she had a huge income bigger than this she did but she still saved it you know it's not like she's gonna just blow this cash but no we don't borrow

money to preserve a savings account so no no no how many no. How many times I got to say this? No, no. Ken, good show today. Thank you, sir. That was fun. Austin, Ben, James, Zach, and Andrew in the booth. Well done, guys. Well done. That puts this hour of the Ramsey Show in the books. We'll be back with you before you know it. In the meantime, remember, there's ultimately only one way to financial peace, and that's to walk daily with the Prince of Peace, Christ Jesus. Hey, it's Ken. If you like what you heard in this episode and want to know more about getting started on the Ramsey baby steps,

go to ramsaysolutions.com and click on the Get Started button. We'll help you figure out the best next step for you based on your specific situation. Again, that's ramsaysolutions.com and click Get Started.