The Ramsey Show - App - The Only Time I Would Recommend Bankruptcy (Hour 3)

Episode Date: September 14, 2023

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. Thanks for jumping in, America. It's a free call. Jay Warshaw, Ramsey Personality, is my co-host. The phone number is 888-825-5225. That's 888-825-5225.

Lisa is with us in Colorado Springs. Hi, Lisa. Welcome to The Ramsey Show. Hi, Dave. Hi, Jade. I'm a longtime listener and a studier of the Baby Steps, but a first-time caller, so I'm excited to be here. Well, thank you for being with us. How can we help?

Of course. is at what point do you decide either to declare bankruptcy or to pay off old slash bad like try to pay off debt okay um old bad debt can usually be settled for pennies on the dollar to give you an example we bought a couple of years ago as a christmas present for our team we bought 10 million dollars worth of old bad medical debt repo debt and credit card debt and um there were um 8 000 accounts and and we bought that for $250,000. And we called all the people and forgave their debt. That was our Christmas present. It was so fun.

It was so fun. We have 1,000 team members. Each of them got to call eight people and tell them that Jesus forgave their debt. And so it was pretty cool. It was kind of fun. But the point is, not to brag on us, but the point is $10 million for $250,000. That's two and a half cents on the dollar. Wow.

That's two and a half percent is what we paid for it. Okay. Okay. So if you had one of those debts and you called one of those people, they would have settled that for 10 or 20 cents on the dollar easy so if one of those was a ten thousand dollar debt and uh we bought it for 25 dollars you could have bought it probably for 100 or 150 dollars you know something like that right or we bought it a ten thousand dollar debt we bought it for 250 bucks you could have paid it off probably for 1200 so point is pennies on the dollar so let's let's back up and talk about the real world with you how much old bad debt do you

have and what kind of debt is it excellent okay so it's actually not me i'm i'm calling for uh because i i'm dealing with my mom and my dad okay so my dad dad passed away back at the beginning of the year. I'm sorry. He, yeah, but God is good, and I know where he's at. So we're just celebrating his life and trying to wade through. How much old bad debt do they have? So he had, between him and my mother, about $120,000. On what kind of debt? It's 5 to 10 plus years old all consumer debt. Like credit cards?

Yeah, it would be credit cards. He had a small business, and his small business, he used debt to finance his business. So does mom have any money? Right. So mom has about $20,000 in savings. Does mom have a house? Mom has a house.

It's worth about $300,000, but it has a reverse mortgage on it for about $145,000. What state is she in? She's in Texas. Okay. Yeah. She does also have some, I would call it delinquent debt. So that was also used to try and split the business. That's actually all in her name.

And it's, I would say, 90-plus days old, and there's about 15,000 of that. Okay. All right. Does anyone in your family have any money, you or brothers or sisters? We're working, my husband and I are working through the baby steps right now. So we have nothing that's not going to debt right now. I have an older brother who is newly married and is saving for the answer. My younger brother, I actually have no idea.

How old is your mom? She is 73. Okay. Let me talk you back through this. Philosophically, bankruptcy, I've been through it when I was in my 20s. It's horrible. Right. Okay.

Philosophically, it's right on the same list as divorce. Right. It's a horrible thing. It's never a good thing. It's never a pleasant thing.'s never a pleasant thing it's not something you want to do and if you think you might be facing it you try everything else to try to avoid it before you do it you want to pull out all the stops right never never do it and that's your absolute last last last last last resort because it's not a

wealth building tool there's a lot of unintended consequences that come at you because of it you know you don't want to do it if you can avoid it okay just like you don't you know like you're talking to a young couple that's had a fight you don't you're not divorced you just had a fight okay so uh it's the same thing and and so you know number one i put it in that bucket number two just like divorce dave ramsey never tells you to do it there are i've never in 30 years been on the air and said you need to file bankruptcy or you need to file divorce the one exception on divorce is if somebody is getting i have told a couple ladies that are getting beat getting you know domestic

violence situations that they need to file divorce they need to get out of there okay but other than that i don't tell people to do stuff like that they make their own decisions i tell i just understand if they end up doing it i'm not mad at you if you end up doing it i went through it but i wouldn't not divorce by bankruptcy but i would tell you not to if there's any way you can so all of that to say all of that to say does your mom have an income she uh received like 800 a month for social security and then she drives lift okay um if i remember correctly in texas your home is protected in bankruptcy yes in texas texas and florida both have 100 percent homestead. And so if she files bankruptcy, they won't touch her home.

And they will allow her to keep X number of dollars of cash, probably $5,000 or $10,000, but not much. And everything else will be collected by the bankruptcy courts and used towards her debts. What I would attempt to do is to help her to begin to solve this for somewhere around a dime on the dollar okay if she can make this all go away for 10 or 12 000 and a lot of phone calls by you on her behalf beating the crap out of these people and you're gonna have to beat the crap out of them you're gonna have to say widow lady in texas files bankruptcy you nothing. This is going to be the headline if you screw with

me. I'm offering you this. Don't mess with me. You better take the deal. Because if you don't take the deal, I'm going to hang up the phone and go to the next one. And when the money runs out, you're going to end up holding nothing, zero. So go through and try to settle these 10, 15 cents on the dollar. And I think you can help her avoid it. But, boy, you've got an uphill battle. You do not have a lot of resources to settle this with. So it could be done, but it's going to be tough. It'll be tough.

If you run out of money, you run out of patience, you run out of steam, she may end up filing, and I won't be mad at her. But I would try everything else first. This is The Ramsey Show. Jade Walsh, our Ramsey personality, is our co-host today. Open phones at 888-825-5225. Jade, let's talk bankruptcy for a minute. Chapter 13 is the most popular type of bankruptcy.

That's a repayment plan where you pay back a portion of your debt. Some debts 100%. If they're secure debt, like a car loan, it's paid back 100%. If it's a student loan, it's paid back 100%. If it's a credit card debt, a medical bill, it can be paid back pennies on the dollar, but you pay payments according to your income in a Chapter 13 over 60 months, five years. And then the debts that were partially paid in the plan, the rest of them are forgiven and in bankruptcy, but you have filed bankruptcy. Now, sometimes Chapter 13 people don't think that's a bankruptcy because it's a payment plan. No, you have filed bankruptcy. Now, sometimes Chapter 13, people don't think that's a bankruptcy because it's a payment plan.

No, you filed federal bankruptcy. That's a Chapter 13 bankruptcy. A Chapter 12 bankruptcy is a farm situation, very unusual bankruptcy. A Chapter 11 is a very large bankruptcy. Usually, you see corporations do that. Big companies do that, they'll uh like a bed bath and beyond they'll follow chapter 11 and they'll dump 75 of their stores and they cut all all the leases loose and they keep the profitable stores and then they restart the company

so it's a reorganization for a large amount of money, typically a large company, a business, an ongoing concern. When people think of bankruptcy, generally what we think of is chapter seven bankruptcy, which is total bankruptcy. And that's where quote unquote all your debts are wiped out. Only they're not. But that's the thing. So student loans are not bankruptable. IRS taxes are not bankruptable. So if you follow Chapter 7 and you have IRS and you have student loans, you come out of the Chapter 7, you still got those. If you want to keep something that has a secured loan against it, like you keep a car payment payment you want to keep the car with a payment on it you have to reaffirm that debt and just keep paying it you can bring it current if you're behind and then you re-sign that documents and you keep going and you keep paying it or you give up the

car but you can't get rid of the car debt and keep the car that's not an option they have a lien on the car in a chapter seven so you're going to give up the car or you're going to resign so i have had people jade come in and say we're going to file bankruptcy only we're going to reaffirm the car and the rest of our debt student loans and irs well you didn't file bankruptcy on anything then yeah there was no no relief from the bankruptcy you reset everything survived yeah so stupid stupid stupid don't do that a chapter seven bankruptcy stays on your credit bureau report for 10 years it's the only thing that stays on 10 years everything else stays on for seven years chapter 13 stays on seven years from the date of last activity which is seven years from five years

from now you started that's a good point because the five-year payment plan so you end up 12 years from today if you filed 13 today before bankruptcy is off of your credit bureau report so these are the things they don't talk about when everybody acts like bankruptcy is easier bankruptcy is quick or whatever yeah and what we were talking to her about is when you file bankruptcy they give you a personal exemption per state the state that you live in even though bankruptcy is federal court the exemptions are by state and they give you a homestead exemption the homestead exemption is the amount of your home equity that you're allowed to keep and so you can't have in most states a four hundred thousand dollar paid for house and file bankruptcy and keep it

the bankruptcy trustee will take that house and sell it they will give you the exemption amount which in tennessee is seven thousand five hundred dollars wow And so you will lose the house, give $7,500, and they will use the rest of your equity to pay your debts. That is painful. That's big. That's painful. That's big. Now, if you live in Florida, Texas, or Arkansas, they have a 100% homestead exemption. So they don't take your house. You can own a $2 million paid for house in Florida and file bankruptcy and keep the house. Question. Do you think they have a higher rate of bankruptcy filings because of that exemption? No.

The data doesn't show that. It doesn't. That's interesting. Because bankruptcies are based on other things. Most people don't use bankruptcy as a method to screw people. And generally, if somebody's got a $2 million house, most people will sell the house and pay their bills. Yeah.

Even if they're in a state that doesn't require them to do that in bankruptcy. Okay. Because most people are trying to do the right. They're trying to figure their way through this. They don't even. But there's a few people that, you know, do stuff like this. But, you know, so that's a pretty vast difference between Texas and, say, Tennessee. Tennessee, $7,500 you get to keep.

Texas, you keep all of it, no matter how big it is, if it's your personal residence. That's a big difference. So like Kentucky, $5,000. Louisiana, $35,000. I pulled up the list on Google here. So Maine is $47,500. Maryland $22,975. Where'd they come up with that?

Massachusetts $500,000. You can keep. Okay. Michigan $30,000. Minnesota $450,000. Mississippi $75,000. Missouri $15,000. Nebraska $60,000.

So you can see it's all over the map. But in all but those three states if you have a super expensive home that's paid for you don't keep the home in a chapter seven wow and you're gonna you're gonna be set so the point is if if you're not going to get rid of student loans you're not going to get rid of the irs and and you're going to re-sign for the car um and you know you you owe eight thousand dollars on credit cards that's the only thing that's going to go away and you've lost your and you've lost your home and then you're going to lose your home or you're going to be handcuffed in some way or

another it's usually bankruptcy is not a big help yeah that's just an atom bomb and not really much gain from it yeah in that it's dropping an atom bomb on a tomato patch. I mean, it's just, you know, there's not, it's serious overkill. And so, you know, that's why a lot of times what happens is that people get so scared, they're terrorized by the calling, the collectors calling and calling, and collectors are nasty. They sure are. And they're giving you a hard time, and they're doing all this stuff.

They get scared, and they go, well, I give up. I surrender. I'm a file banker. But it doesn't fix it. Yeah, and especially when you think about the Chapter 13, you think, well, you can come up with a payment plan. You can negotiate these things down yourself. Exactly.

And if you do it our way, you're probably going to do it in less than five years. Yeah, exactly. So, you know, our last caller and, you know, we got up against a commercial break and you mentioned this in the commercial break. They had a reverse mortgage. Yeah. Mom and dad. The lady was calling for her mom and dad. They had a reverse mortgage, which is going to come back and bite her later.

Yeah, because she can only pull out so much equity when the the equity goes it goes up to 65 percent of loan to value and after that they're going to stop and then she still has to pay the taxes insurance and maintain the property and if they don't the reverse mortgage company will foreclose on her that's right and um she's only going to drive uber or lyft for so long right and she's 70 yeah driving u Uber. So what's this tell us? Well, it tells us that mom's probably selling that house in the future. And the thing I didn't do in that call that I probably should have, and you brought this up, it was you telling me the truth, was that they probably need to sell the house now. Yeah, before they run out. It gets rid of the reverse mortgage and take the equity that's there.

It'll clean up her debts as she settles them. She can get a nice little apartment and live on Social Security and a little bit of Uber or Lyft money. Yeah. And not have all this stuff hanging over her head. I agree. But, you know, daddy died in January. And here we sit in September. And mama's got all this stuff crashing down around her ears.

And she's 70 and driving Uber. My heart goes out to them. The thing I'm going to, you know, now we're going to sell our house. That's going to be really hard. Yeah, it is going to be hard. And she's probably not going to want to do it or understand why. Yeah. But you've been running a business for 15 years at a loss.

And you got $120,000 in credit card debt. And that's where it came from. So that's, you know, this is the chickens coming home to roost as they say but it's very difficult but really what what when mom and when that lady is 75 years old what is the best course of action for her to have taken i sell the house right now yeah absolutely clean up all the debt settle it all she's 100 debt free she's in an apartment and all the pressure's off that's right and all the shame and settle it all. She's 100% debt free. She's in an apartment and all the pressure's off. That's right. And all the shame and the condemnation from the bills from the past and all the collectors calling in a year that she's grieving her husband's death. It's all gone.

It's all cleaned up. You know, I wish I thought of that while I had the lady on the air. They're still listening. Maybe. It's tough stuff. This the ramsey show open phones this hour at 888-825-5225 jade warshaw ramsey personality is my co-host in the lobby of ramsey solutions on the debt free stage michael is with us hey michael how are you man i'm doing great dave how are you, man? I'm doing great, Dave. How are you? Better than I deserve. Where do you live?

Torrington, Connecticut. Connecticut. Welcome to Nashville. And how much debt have you paid off, sir? About $40,000 in 13 months. Good for you. Range of income during that time? Started at around $60,000 and finished just over $100,000.

Way to go. Good for you. Excellent. What kind of debt did you have? I had a car note, about $23,000 on a car, $8,000 in various medical debts, $7,500 on credit cards, and about $1,500 on miscellaneous small debts. Yeah. You were normal.

Yeah, pretty normal, I think. What happened? What was the deal 13 months ago? Well, I thought I was doing a good job keeping up with the Joneses. I had a decent condo, nice car. And I just found that I was stressed and anxious all the time. And I know I'm a single parent and that stuff leads down to our kids. And I don't know. I just decided that I really wanted a better life for both of us. So that's around when I found The Ramsey Show. Good for you.

So the stress of the debt wasn't worth it to you? Definitely not, no. Wow. And how old's your baby? She's 13. All right. Very good. Good for you.

So how did you find The Ramsey Bunch? Just looking up on YouTube i found you and um i think you were doing um you were on a rant a kind of an anti-snowflakery rant and i was like that is my guy yes and uh that's what you know that's when i really became interested in the show and um yeah the heat the heat from those rants has been known to melt entire inches of snowflakes so wow it was just what i needed to hear so great so you were a uh recovering snow you recovered he's not a snow well no no i wasn't a snowflake you're saying you just he just he he agreed with me and that meant i might have something else to say it It got my attention.

It definitely got my attention. I like it. Very good. So basically, I just went to work. I mean, my side jobs have side jobs. I work so many jobs. What was the most lucrative side thing you did, the thing that made the most money? Well, I'm a chef by trade, and probably, it's hard to say,

but I did a lot of 1099 catering jobs that were very lucrative that's cool like some private chefing that's some good money yeah very good money in that and um i do a lot of deliveries food and grocery deliveries um and the reason why those have been so great is because my daughter likes to come with me um so it's kind of a way to work extra hours um and spend time with her at the same time. She's been my navigator, my DJ, my traveling comedian for thousands of deliveries. Well, and if she's doing the DJing, the music's much better than if you did. She would definitely agree with you on that, Dave, for sure.

I'm sure. I'm sure. 100%. Yeah. Very good, man. Very cool. So what kind of money can you make doing the side chefing idea? It's over $50 an hour, I can tell you that.

Oh, that's great. I thought so. And that's a lot more than I make in any of my other jobs. But, you know. Good for you. It's nice to mix it up a little bit. Yeah. It's so cool.

Again, usually we find the best side gigs are an extension of your professional. Absolutely. So like teachers that do tutoring can make $40 or $50 an hour. Absolutely. You know, a side gig, that kind of stuff. We see that all the time, but just taking what you're doing in your professional world and moving it around that way. Good stuff, man.

So who was your biggest cheerleader other than your 13-year-old? I have a lot of coworkers that cheered me on. I think most people, most friends and family probably think I'm a little crazy. You are? Yeah, I am. In a good way. Yeah, I'm proud to say. Disregarding the credit score and all that, it's a tough sell to a lot of people, a lot of my family.

But they've always supported me and encouraged me they may not agree with it but now that you paid off 40 grand in 13 months do they believe at all i don't know i hope so it's pretty good i hope they do that speaks volumes right there that you actually did it it's not what do you tell people the key to getting out of debt is i would say definitely uh budgeting was the number one thing for me it was something i had never done before i couldn't have even told you how much i made a year how much how much debt i had honestly i had no idea because i had never laid it out like that and so uh using every dollar was a big big help for me i still use it now that's cool very good very good good for you man i'm proud of you way to go hero how's it feel to be free i can't tell you how great it feels i've never

fallen asleep so fast that night before my head even hits the pillow because i just don't you know i used to stress out about you know the next paycheck and the next bill that's due and and um i just don't worry about that anymore just don't have to and it's just a great feeling and i just encourage people that um even if you a single parent, you can definitely do it. You know, just start budgeting and get to work. Yeah. Let them be your DJ. Yeah, let's go.

Here we go. I'm in. Very good stuff. Good stuff. Really, really cool. All right. We've got a copy of the Baby Steps Millionaire's book for you. That's the next chapter in your story for sure.

You're on your way, hero. And Total Money Makeoverover book and you can give that to somebody if they actually inquire about how you pulled this off and the same thing for financial peace university so that's the live and give box and it'll get you uh get you something you can live and some you can give so good stuff i know your daughter's not going to join you on stage but let's honor her anyway what as the dj what's her name that's clara my daughter clara way to go clara appreciate you supporting dad, and your dad's a hero. You ought to tell him he's awesome because he is.

Very cool stuff. Good job. All right. Michael from Connecticut, $40,000 paid off. Side hustles had side hustles. He did it in 13 months, making $60,000 to $100,000. Count it down. Let's hear a debt-free scream three two one i'm debt-free

i love it way to go kiddo so jade uh in the program today we've had two debt-free scrims both of them said that every dollar that every dollar budgeting app was key it is key because like i mean he did a great job explaining it most people i think i read a stat that said 70 or 77 of americans if you say hey what did you spend last month they couldn't tell you i mean i do because they don't have any i mean they really do not track it at all. You don't track it. And when you start tracking it, there's a rule in business that says what gets measured gets done. That's so good.

And the same thing is true with money. If you don't measure it, if you don't tell your money what to do, you'll always wonder where it went. The EveryDollar budgeting app is the world's best budgeting app. We brag about it, but it really is. It's legitimately amazing. You can try it completely for free and this coming tuesday george camel is going to be doing one of our budgeting webinars jade's already done a few rachel's done a few y'all are going to be doing some more later that's right this coming tuesday george camel is back after he's his wife just had a brand new baby and uh they've been at home for a while, but he's back.

He's going to be with us in Chicago this weekend. But then this coming Tuesday, he'll be doing the Every Dollar webinar. He'll be online. We limit that because you get to interact with him with questions during the process. People jump in. That's right. And so if you want to be part of the webinar there on this coming Tuesdayuesday george camel's going to be doing it on putting together every dollar it's completely free it's completely free so you just go to every dollar dot com slash budgeting and

you can learn how to do some of the stuff that michael did he paid off forty thousand dollars in 13 months yeah it's so necessary and so many people think oh i have a budget i do it on paper every month but it's not the same because when when you go on the EveryDollar one, you track, you're tracking each day what you're spending to make sure you're actually hitting your numbers. It's not just you setting it and forgetting it, right? Right. And that to me is the key. Well, I mean, you can set a budget and forget it. And it's not really a budget. No. It was just a list. Yeah, exactly. It was exactly what it was a it was just a list yeah exactly it was

exactly what it was and so you know in business we have you know you have your budget for the month and then you have your actual for the month and you say okay we brought in more revenue or less revenue than we thought over or under budget we spent more or less than we thought over and our profits were over or under and you compare what you plan to do with what you actually did yes and every dollar does that minute by minute yeah when you're doing it in real time you can adjust as opposed to waiting till the end of the month and going oh crap because you can't keep spending more than you make you're not in Congress that's right every dollar.com slash budgeting George Camel going to be this coming Tuesday the 19th of September

free webinar. Sign up for it. This is The Ramsey Show. Our scripture of the day, Hebrews 12, 11. No discipline seems pleasant at the time, but painful. Later on, however, it produces a harvest of righteousness and peace for those who have been trained by it. Abraham Lincoln said, Discipline is choosing between what you want now and what you want most.

Ooh, that's good. Catherine is in Minneapolis. Hi, Catherine. Welcome to The Ramsey Show. Hello, Dave. I am super excited to talk to you. You too. What's up?

I have, um, I've been listening to you since I was 25 years old. I lived right there in Franklin, Tennessee. Now I'm 54 and I live in Wisconsin, right outside of Minnesota. And I have a question. My husband and I, well, I followed you, like I said, for years. Um, we have two, we're both optometrists. He's also a farmer and I'm also a yoga instructor. We have been practicing optometry for about 29 years. We are completely out of debt. That happened about four years ago.

We feel very blessed. We worked really hard. Way to go. Thank you. So we're wondering if you might have some advice of where to go now we were all with driving bigger when we were trying to get out of debt you know checking off of our boxes and all of that and now that we've done that we've got about four and a half years left that we want to do optometry before we retire, but we're,

we're feeling burned out. We're not feeling that drive and that vigor and that sense of accomplishment of checking things off. And we're just wondering if you have any advice of, I don't know where to go from here. And like I said, I feel very blessed even speaking this question. Um, so you've paid off the debt, and everything house and everything oh yeah way to go that's amazing

congratulations the house got paid off thank you and we feel very proud um but now we're just trying to figure out how to keep that drive going and to be able to work for the next four and a half years well in some ways you don't need the same drive as far as that intensity because it's like, oh, I'm paying off debt. I'm doing this. You've earned the right to take your foot off the gas. Obviously, you have all of this margin now, right? So you're doing those three things that we always do with money.

We're giving some of it. We're saving more of it. And we're spending it. And I think that that's kind of what you guys need to. This is the good part, right? This is a fun part where you sit down. I know. And I think that that's kind of what you guys need to. This is the good part, right? This is a fun part where you sit down. I know. And you look at that margin.

You're like, OK, because here's the thing. You've got it. You've got to give something because then you realize this is what this is all for. Right. You've got to keep that perspective. And the more you give, you realize that you've got to spend some of it, because if you don't, it's like all we do is work, work, work. Right.

And you're not enjoying it. So you've got to spend some of it. And then, of course, you've got to continue to save because you are thinking about the future. You are thinking about this life that you want to have. So that's really that's really all there is to it. And now I get what you're saying, because you are in this mindset for however many years of I'm just stacking away. I'm going, going, going. And it's kind of hard to turn that off what I have what I what

I did was um I found that in not only in business but from a ministry perspective and uh from a financial perspective I get a lot of energy from a detailed goal that's my husband yeah and I it it doesn't even matter what it is as long as it's detailed and it and i can measure progress towards that goal okay it could be a generosity goal it could be uh we want to go on this trip and we want to save towards that it could be uh uh you know a friend of mine just bought a big classic car that he's thought of for the last 20 years he wanted to buy and that was a big goal he worked towards he said now what do i do i said you need another goal i don't care what it is get you

a goal you know and uh and so uh you know one of the most fun ones we've had sharon and i've had and we're in the same place i mean baby step seven and at the ends of our careers, right, and so forth, was I ran into this guy who, not counting his tithe and his normal rhythm of giving, in addition to that, he had a goal. He wanted to give away a million dollars in a year to ministries just to give to the help of the people, right? And so we set that as a goal, and we were able to do it one year. And that was so much fun.

And then we decided i want then i decided a few years ago and we did this about three years ago i think or four uh i guess it was a year before covid maybe we said uh i want to give away a million dollars in in one day that was fun that's crazy that was crazy you know and i'm a kid from Antioch, Tennessee, man. I can't even I couldn't even wrap my head around having a million dollars, much less giving away a million, much less giving away a million in one day. Let me know the next time you're planning on doing that. And let me put my let me put my name in the hat.

But I mean, I'm not bragging. I'm just saying the point is that the stuff we teach works, and it puts you in a position if you live like no one else, later you can live and give like no one else. And so what you need then is something that matters to you that is a very clearly defined, high-definition goal to where you will know exactly how close you are to it and when you hit it. It's not vague. It's not some feeling.

It's very objective, very measurable. And you say, okay, by this date, we want to do this. And then your mind automatically starts unpacking what my friend Henry Cloud says. He says, what must be true yeah it's not true today in order to be there at that date yeah that's right what is it that in order to give that save that uh you know i want this i want to be in a position i mean you i don't mind the vague ones that are kind of funny i used to work for a guy that was real motivational he was a great guy he said i want to make enough money i can read the menu left to right instead of looking at the price first on

what i'm going to order i'm going to look at the stuff decide what i want to order and then i'll notice the price that's right he said that's a that's a state of mind now that's a little bit weird a little bit funny but but it is a mindset it is a it is i've gotten comfortable i've gotten content uh this meal is not gonna oh yeah find me i can gotten comfortable i've gotten content uh this meal is not gonna oh yeah find me i can do whatever i want to do with this meal it's like what you said about sharon wanting to be able to just go to the store and you know you can put what you want in the basket and it's not a it's not a thing it's a buggy i can't say it i can't i can't go there she wanted to go to the grocery store fill up her buggy I said that on the

live stream the other night and Rachel and Jade made so much fun of me when I got off the air they're like a bug you know you did it on the air you made fun of me on the live stream it's not a buggy it's a cart it's not a cart it's a buggy a basket a cart a shopping cart if you will like it's not a baby buggy it is a i don't know that's what we call anyway she wanted to be able to go to the grocery store and buy groceries without thinking about it yeah because we were so broke that we had to squeeze every dime on every paycheck on everything we couldn't breathe that's how i feel i i relate to sharon in that way so much that was my thing is i i want to know that we can but now we can budget enough to where I don't have to be thinking, I'm not calculating it as I go, right?

Yeah. I guess if you've ever been where you didn't know if you could feed your kids, you weren't 100% sure you could feed your kids. They always got fed it was it was touch and go yeah you know if you've ever been there where that's a different kind of terror yeah and if you've ever been there then you know going to the grocery store and filling up your buggy filling up your cart with anything you want to put in it that becomes a really solid goal that's funny and the funny thing is like i said the other night she's such a tightwad she still doesn't do it but and now she could buy the grocery store but you know but that doesn't matter she just goes in there and gets whatever fill up your buggy open up your pocketbook and pay for it yeah that's it you didn't get it if you say buggy you also say pocketbook what's wrong with pocketbook it's a wallet it's not a wallet it's a purse a pocketbook and a purse are the same thing.

No, your pocketbook is your wallet, right? No. Booth guys? No. Wait a second. I've only ever heard pocketbook in like a woman's purse context. Purse. It's a purse.

You open it? Okay. My mama carried her pocketbook. Yeah. I remember that my whole life. I don't. Where did you grow up anyway? Purse, wallet. You know, I only know these phrases because i have family in virginia so i that's how i know about it

we can't keep you on here long enough we're going to teach you to speak hillbilly i'm just saying i'm getting close you keep your pocketbook in your buggy that's right that's what you do when you're shopping oh my goodness bobby robertson's from alabama is that true bobby you keep your pocketbook in your buggy. That's right. That's what you do when you're shopping. Oh, my goodness. Bobby Robertson's from Alabama. Is that true, Bobby? You keep your pocketbook in your buggy. Okay, that's what it is. I'm just saying.

Oh, good stuff. Guys in the booth, great job today, as always. We appreciate you. The booth dudes is always doing a great job. Jade Warshaw, good job as well. I am Dave Ramsey, your host. We'll be back with you before. You know what? In the meantime, remember remember there's ultimately only one way to financial peace

and that's to walk daily with the Prince of Peace, Christ Jesus. Hey, what's up guys? It's Jade. Look, if you like what you heard in this episode and want to know more about getting started on the Ramsey baby steps, go to RamseySolutions.com and click the Get Started button. We'll help you figure out the best next step for you based on your specific situation. That's RamseySolutions.com and click Get Started.