The Ramsey Show - App - The True Cost of Kids Travel Sports (Hour 3)

Episode Date: October 20, 2022

Dr. John Delony & Rachel Cruze discuss: Helping stepchildren, Why you need a will, The financial and relational cost of kids travel sports, Selling property. Have a question for the show? Call 888-825-5225 Weekdays from 2-5pm ET Want a plan for your money? Find out where to start: 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 Studio, what is happening in America? It's the Ramsey Show. We're hanging out to have a conversation about your life, your mental health, your relationships, your work, and your money. I'm John Deloney, joined here by one of the greatest people you will ever know, Rachel Cruz, and we are taking your calls live, 888-825-5225. It's 888-825-5225.

Let's go out to Gretel in Fargo, North Dakota. What's up, Gretel? Hi. Good afternoon, everyone. Good afternoon to Dakota. What's up, Gretel? Hi. Good afternoon, everyone. Good afternoon to you. What's happening? Well, I got married to a guy who got divorced, and it was, well, the divorce was fine, but we found out that, I found out right after I got married to him

that the divorce paper had been so unfair with all the debts that she put in towards my husband's name, which he didn't know. And what he agreed with it just for peace and stuff. And like the student loan they made together during their marriage was put on all to his name. And for the past five years, we've had quite problems with every year. She is homeschooling the boys and she wants us to help with homeschooling. As far as I know, and what is written in the divorce, or like generally child support should cover education and other stuff. And that's what's in the court system in Minnesota. And, um, um, but now we, I, me and my husband decided that we should not help her with the finances.

Like she wants us to pay $200 a month toward homeschooling. And I told my husband that instead of putting it in, um, cash, then let's put it towards the boys. Like we spend more time with them so we could have more time because we see them hardly ever at all. And even though in a divorce paper, it's just supposed to stay every weekend, but she's taking them most of the time. So I said instead of that money giving towards her well she had the the divorce paper had been unfair so it's just fair enough that we put um the money instead towards seeing the boys and then she could um like okay gretel what's your question, honey? Yeah, I think the same way with, what is that, like food and stuff. Yeah, Gretel, what's your question?

Yeah, the question is, are we morally obliged to fund this woman? Like, is it okay to financially support her because she is in financial struggle right now. Okay. And to me, yeah. So first, we're going to follow the divorce decree. And what the divorce decree tells us to send, we're going to send. You, as the new wife, can look at the divorce decree that your grown-up husband signed and say this wasn't fair.

But you choosing to waste one second of energy being upset about that is a choice you are making to be miserable. Don't do that. Yeah. You married in. It's what is. And we're going to pay it off because that's what we all agreed on in court. Or that's what he agreed on in court. Yeah, we paid off.

We paid off everything. Good deal. Good deal. Yeah. Yeah, we paid off. We paid off everything. Good deal, good deal. Yeah. So, hold on, hold on. I am way more, I'm way more concerned when I'm thinking about the health and wellness of these kids

outside of the four walls. I'm way more concerned that when they're 14, 15, 17, 18, one of them is going to look their father in the eye and say, hey, the court said you could visit me every weekend. Why didn't you fight for me? Yeah, that's the thing. No, no, no. That's a choice you all make. Okay. I would not do things above and beyond the court order unless we sat down as three adults or if

she's remarried and agreed on, hey, there's been some different needs. And if we can be adults about it, great. And if we can't, then we'll go back to court and see what we need to do. But no, somebody can't just say, hey, by the way, I decided to do a new thing. You got to give me more money. That's not how that works. That's why the court has a decree that everybody agrees to and everybody follows. If your kids are suddenly unsafe or your husband's kids are unsafe, they are in a home where they're not eating, there's not heat, there's not basic necessities, then y'all have to step in and you probably have to get an attorney to help you with that. And this isn't about winning, and this isn't about punishing her. This is about taking care of those kids.

And I'm saying if she's in financial straits and needs to start charging you guys for $200 every month for homeschool, it doesn't make any sense to me. But here's what I want to do. I want to start this whole conversation by we're going to follow the divorce decree. We're going to follow what the thing says. I'm going to go get my kids every single weekend. And if you don't want to give me my kids, then I'm going to take you to court because those are my children and I'm going to see my kids. I'm going to pay the child support every single month as written. I'm going to take

care of it. If you come to me as an adult and say, Hey, there's some specific needs and here's it, but you getting $200 here, we're going to put in this account over here and we're going to do it. That's just makes this whole thing a mess. Don't do that. Follow the plan as it's written first. Let's do basics. And then if y'all want to have adult conversations about specific needs beyond that, and y'all can all three agree to be adults, cool. And if you can't, great. Then let's move on. Through your experience, John, working with families, blended families, how, what percentage and I guess that doesn't matter matter what qualities do people have that make this kind of situation like really good for the kids versus putting them in the in the middle and

it's and it you know it destroys them like what what's the like what are the things that that she gretel and her husband things that they can be doing for themselves to grow and say hey we want to become healthier for this situation what are those characteristics that you see within families that do it really well? Almost without exception, they choose, we're going to be very adult-minded about this and every bit of our energy will be focused on what's the greatest environment we can make for these children. And that means I'm going to put down my jealousy every time I see her with her new husband. I'm going to put down my insta-rage that comes over me every time I see him with that woman he cheated with me on. Now they're married because going to war after court, going to war during court, it helps nobody.

And then this situation, what's happening here is these children are becoming pawns. It's a way for potentially for ex-wife to get some more money. Yeah. It's a way for them to, she's not following this. So I'm going to do that. You cannot use your kids as weapons. You can't, you can't, you can't, you can't. Um, I have been astounded over the last, I don't know, 15, 20 years,

watching adults be adults. Like I've learned from watching divorced couples say, yeah, I mean, we were married and we were in love and we had plans that didn't work out and we have three kids. And so we meet every month to talk about what's going on in our life. We're able to be civil at child conferences. We all show up because we're grownups. Yep. And we are sad in the car, but we're adults. And dude, it's beautiful when people choose to put maturity above.

What I want in the moment. Yep. Yes. Good. So be adults, everybody. Be adults. We'll be right back. Hey this is the Ramsey Show. I'm John Deloney, joined here by Rachel Cruz.

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All right, let's go to Cameron in H-Town. Go, Strohs. What's up, Cameron? Hello. Thanks for having me. I'm 62 years old. I was fortunate to retire two years ago. In that time, I gave my two adult daughters 60 grand apiece to buy houses, so they're set. I have 450 in my IRA. I have a paid-off house, worth about 250. I have two new vehicles, and everything's paid for. The IRA, my wife is a beneficiary. The house is in both my wife and my name, and cars are both our name. Do I need a will just yet? I'm thinking I can wait until one of us are gone

and then line it up. But the way things are set up right now, I feel if I go, she gets everything. What do you think? I need a will? I think you needed a will 25 years ago. And here's where I'm coming from on that. One, I was the dean of students at a law school for about five or six years. I forgot how, about five years. And I got to see, have a ringside seat to what happens in probate court, what happens when relatives come out of the woods, when kids sue their parents, when cousins sue their aunts. It's madness. And so you have, man, you have done an incredible job financially.

Here's the second thing. I have spent a chunk of my career doing death notifications, showing up with police officers in the middle of the night when somebody's lost their spouse, when somebody's lost a child. And the number of times I've had a spouse look at me and say, I don't know what to do next. I don't know where stuff is. I don't know where the paper is. I don't know where this is. I don't know who to call.

And a will helps consolidate all of that information into a single place. And it also, you have conversations about what do you want your funeral to look like? Where do you want to be buried? What do you want these things? And those are not pleasant conversations. They're not fun. We've had them so many times in my house. Now it's just become routine. But it's absolutely, absolutely, absolutely. It gives the executor of the will, if you were to pass away tomorrow and your wife is grieving like she's going to and doesn't know what day it is it gives the people in that you care about in your life an opportunity to walk in and say okay here's what happens first here's what happens second here's what happens third it helps direct the courts it just it just cleans it just makes it all easier yeah and cameron

and god forbid something happened to you and your wife together, right? You would probably want this stuff to be passed to your kids at that point. So it just gives direction and it takes out a lot of the hoops and stuff that people have to jump through with your assets. And so it just, it makes it smoother. And too, Cameron, they're not that expensive. You can get, you know, state specific wills. Mama Bear Legal Forms is a great website. You can do an online form, especially if it's not a complicated estate.

You can just do a will online, pay some money, and it's done. It's not that expensive. That's what I did mine, Cameron. I did mine with Mama Bear Legal Forms. It's a simple will. I don't have a lot. It's straightforward, just very similar to your situation, except you get way more money than me. It's

just straight across the board, and it's simple. And it just says it goes to here. Just get it notarized and go to the site? Sir? Get it notarized, do it online and get it notarized? Just go to MamaBearLegalForms.com and follow the process there, and it'll just walk you right through it. Or if you've got a buddy who's an attorney at your local church and they can work.

I mean, there's a bunch of ways to do it. I did it with Mama Bear because it's a sponsor on the show. It's a group that we've had a relationship with a long time. And they make it very easy. That's one reason we. Dude, it was so easy. I've had a super complex will with seven different parts and all that. This one was very simple and straightforward.

And that's why I went with it. My wife did it too. Yep. So just, yeah, follow that. They direct you. Basically hold your hand through this process because it's a weird process. It's super weird. Creating your will and all that.

But Cameron, you've done a fabulous job. And this just is one of those safety net things. That's just really wise. So, yeah, it's something that we tell people all the time. It's stuff you don't want to think about, but life insurance and a will are two things, and you need life insurance if someone is dependent upon your income. You need life insurance.

Even you stay-at-home moms out there, you need life insurance on you because if something happens to you, then dad has to sit there and say, okay, who's going to help with the kids? How are we going to keep life afloat and so man that is the one thing i'm like if anyone if everyone out there could have term life insurance we've heard just the horror stories on this show of people that pass on sudden things and and then the spouse is you know has nothing and they have to go and go back to work maybe plug back in when they weren't i mean it's just it's heartbreaking in the midst of like a really, really hard time. So term life insurance, our friends at Zander recommend them and getting that. And everyone

needs a will, a will, a will, because again, it's, it's not that expensive and it just makes all of this so much easier when you have a legal document that says, here's where everything is. It just makes it, it makes it smoother. And and i'll i'll take it one step further cameron um if you haven't already you sound like somebody that probably has already done this but for everybody listening keep that something that you update once a month once every three or four months once a quarter um and i'm behind on mine so so I got to go do it. Keep on a single piece of paper somewhere where everyone in your home knows where it is, all your passwords, where the bank account is, where the information is, so that if something

happens, who to call. So if something happens to you, it's as easy as possible. Here's what we're going for. 100% of us pass away, Rachel. What we're going for is can I set my wife up in a situation where when I go, she has the blessing to just spend some time grieving. She doesn't have to spend time wondering how she's going to eat.

She doesn't have to spend time wondering who's the insurance agent, is there a policy, we don't know. It's all right here. And she gets the blessing and privilege of just being sad for a long time. And that's what we're going for here. And you know what, John's all right here. And she gets the blessing and privilege of just being sad for a long time. And that's what we're going for here. And you know what, John, it's funny.

I'm in my mid thirties. So both of our, Winston's parents and my parents, both active, you know, working, living life. It's great. Both, which applause to them, have set us all down as separate families, right? We have with the Ramseys and then the Cruises have done the same with us.

And Winston's parents, every other year, they sit down with the grown kids and they say hey here and his dad does that he hands over a sheet of paper and it's everyone imaginable and then he has another list of of the financial i mean they are so open because it's like and then and then we go through scenarios if something happens to me if something happens you know to my mother-in-law if something happens, here's, and who's on the, who, yes. I mean, it's all right there. And then the Ramses, we've done the same thing. We do it once a year. And it's like, and as an adult child, I'm so thankful.

So all of you in your 60s and 70s who have adult children have these conversations. And I know it's awkward. It's weird. It's terrible. The Ramses, we've done it for so long and we call it the when Dave dies meeting which is so terrible.

My dad was a homicide detective. He's like, hey, I'm going to die. So here's the, so in our house, I've had to be careful that not every family talks like we do.

Totally, totally. I know. But last Christmas, my dad brought the updated will in an envelope and he goes, hey, this is where this is. Yes.

It was like a Christmas present and it was a Christmas present. It really, I mean, we joke about it, but y'all in a time of crisis, like parents that do this and have these conversations and plan, it is, it really is. And for you parents who are 60, 70, 50, I promise you when you have all this written down, you will sleep a little bit deeper because you, you've thought it through, you know where it all is. You'll be good to go. This is The Ramsey Show. We'll be right back. Are you sick of planned obsolescence? You know, when companies make products crappy so you have to buy more of their crappy products? Well, me too.

And it's why I love companies like Grip6. Grip6 is all about quality products meant to last forever. That's why their comfortable, bulk-free belts, slimline wallets, and lightweight wool socks all come with a lifetime warranty and simple returns and exchanges. So check them out at Grip6.com today and get up to 20% off with the promo code RAMSEY. This is the Ramsey Show, 888-825-5225. Rachel, one of the great cautions for people who are on radio, who do podcasts for the media, is whatever happens,

don't get yourself canceled. Oh, yeah. And John's a little bit and john's i'm about to get myself oh my gosh okay so the other day i posted on social media i don't even have my i've got it on my cell phone of course you ready yes all right here's what here's america here's what i posted it's a text post on instagram so there's no pictures or anything. No pictures. Just like a black square with white fonts. You ready? Parents make no mistake. Youth travel sports are for you,

not your kids. If athletic achievement is their only way to connect with you, they will give up every weekend of their childhood, chasing a little ball to win your love. Do what you're going to do. That's fine. Just be honest about the real beneficiary and then you said quick edit dude at the bottom okay well hold on i'll tell you about that okay okay so i posted that that is a that is a freaking like black and white statement

though it is it is and no. Youth travel sports are for you. You gave no, like, possibly 2%. The kid loves it. Right. Like, you went hard. I went hard. And I have my opinions. I have my opinions.

I went hard in the paint. And in the post itself, I said, hey, this is my working hypothesis. I think I'm right. But I'd love to hear from you. And did you hear from them? Within two hours, I lost 1, 1 500 followers just forget this guy um hundreds of opinions come came flying in which is what i asked for i loved it yeah and one of the most common statements early on was oh this is one of those guys that's never done sports or spoken like

a true non-sport guy so i did something I almost never do a I read the comments I never do that and I did this time and b I actually plugged back in and said just in case you're wondering I played travel baseball before it was travel baseball back when it was we were traveling all over with all-star teams and stuff I was pretty good then I was a two-year multi-sport starter in high school, varsity starter in high school. Then I went to college on an athletic scholarship. Then after college, I was running around getting my head kicked in with a professional MMA team. I spent my whole life doing this.

Sports, yes. I've got two little kids now, and the machine was kicking up. I started asking myself, A, this is way different than when I was involved. Oh, man. And as I went down the rabbit hole, good God almighty. Look at this. Nationally, visitor spending associated with sporting events

which consists primarily of youth and amateur sports tournaments reached roughly $92 billion in the most recent data available. $92 billion. It is a multi, multi, multi, multi-billion dollar industry. So here's what, can I throw another step in this? Because here's what's crazy. So the typical parent spends $693 per child per year.

So $700. Now, if you go into the travel world, frequently you can spend up to $12,000 per year with that money going towards travel and team fees, according to a survey by Project Play. Again, the average sports out there is $693, but parents spend on excess $12,000 for travel. And that does not include private training clinics or sports summer camps, which also can cost hundreds to thousands of dollars, even more per year. And so this conversation started about a decade ago

when I was working in higher ed and I was meeting with my friends who were athletic trainers and the number of athletic trainers saying, hey, we're starting to see joint injury usage injuries that we have normally only been reserved for the elderly. Oh, wow. 18-year-olds who have been playing not only just baseball since they were five,

but a particular position that they went and got a special coach for and special this and special that. And they play on this team and this team and this team. And they've done the same repetitive motion for the last 16 years during some of the most critical developmental moments of their life. And their shoulders look like the shoulders of 80- olds oh my god and so i started thinking whoa that doesn't sound right um and so man if you go down the rabbit hole the scholarship yeah oh go ahead yeah yeah the links between travel sports and professional sports is virtually zero yeah right um the psychological challenges too that's what i'm saying yeah yes the psychological challenges. And professional too. That's what I'm saying. Yeah. Yes. The psychological challenges, the social isolation, the travel, the altered relationship with families, the research is starting to come out saying, whoa, whoa, whoa,

what are we doing? What are we doing? And so I started asking myself, why are we doing this? Because I want my kids to play sports because I feel like I got a lot from them. I learned discipline. I learned how to fail in public. I learned all these great things. But to the tune of every weekend of our family, right? To the tune of we're paying off debt, yet we're spending 12 grand per kid to play tennis, to play hockey, to go on all these soccer tournaments. And the most common feedback I get is twofold. Number one, my kid loves it. And here's my response to that, Here's my response to that.

Here's my response to that. My, I woke up this morning and my wife's out of town and so it was just me and Josephine, my six year old. She asked me,

right when she woke up, stumbles in, gives me her morning hug and says, can I have ice cream? She loves it. She loves it. Can I have ice cream for breakfast?

No, Josephine, can I have ice cream? Oh, I know this. Can I have pancakes and Nutella? It's my job as a parent to say hey I know you love this and if you miss every weekend what happens to your academics if you are only with this group of 12 people in this group forever yes you make some deep relationships but you miss a whole cascade of people that are different than you that think different that worship different like

that's a great point. Because that was going to be my feedback to you of like, yeah, but what if the kid's so good and they love it? Yes. But you're still the parent. You're the parent. It's your job. Even though they love it, they, oh yeah.

Because my kid would eat ice cream every step of the way. So the financial, the financial piece, I never like to say, I would never spend X amount on a car. Absolutely. I would never spend that much for a vacation, right? Because it's all percentages. It's all percentages. So for some families, $12,000,

there are some families that are going into debt. Or they're not doing things that they otherwise would benefit their financial position. It would help their family out. In general, yes. And so it's become a detriment financially. To me, that's a hard stop. It's like we're never on the show going to say, go into debt for things.

So if you're digging yourself in a financial hole for this, it's not smart. It's not wise. Long term. For yourself, for your family, it's not wise. Now, if it's a small percentage of your income. Knock your lights out, man. Do your thing. Yeah, right.

It's not a moral thing based on the money. But I would caution. Here's my thing. Can I tell you mine? We have three kids. Our oldest is in second grade. And I have had probably five conversations, I'd say in the last six months. I don't want to be dramatic here.

I was going to say like last week. But it's probably been over the six months. That you're talking to a parent. It's like, yeah, we're going to put her in dance. And we have to do the dance championship league elite where they go and travel because if she can't if she doesn't do that she's not gonna make middle school dance team because middle school dance team is gonna be full of girls that have been dancing right i'm just using this as an example and then if you make if you don't make middle school there's no way you're gonna make high school if you don't make high school they there's no way you're going to make high school. If you don't make high school, they're going to do drugs and they're going to die because

they're not going to be able to. Yes. But you plug in any other sport, right? Whether it's soccer, baseball. So, John, honestly, as a parent, though, in our county in Nashville, it's probably very heightened, too. I feel like most everyone does travel sports. It's rare to meet a family that doesn't.

That's right. I mean, seriously, it's crazy. Everyone does. So I even went down that rabbit hole where I was like, oh, my gosh. Okay. it's rare to meet a family that doesn't in in this i mean seriously it's crazy everyone does so i even went down that rabbit hole where i was like oh my gosh okay here's is this is this gonna be bad here's the data this is from a study here um done in 2016 um there were 322 athletes invited to the 2015 national football league scouting Combine, 87% of whom played multiple sports in high school and 13% only who only played football. And what this goes on to say is the greatest gift you can give your kids is to let them play a bunch of different things and let them have fun and

naturally gravitate towards a thing with specialization happening later on in high school and into college. Okay, but what if that's a reality, though? But it's not. You go to play sixth grade soccer. Here's why. If they're athletic, they're going to be athletic? Well, if they're LeBron James, you'll know at about age six, right? Everyone around that kid, he signed his high school,

in high school he signed his tennis shoe deal. Right. And there's always the story of Rudy. Yes. We know that there's the story of Rudy. For most of us the anxiety and tension and expense and frenetic schedules cause more challenge to our kids than

they're good at soccer. This is the Ramsey Show, 888-825-5225. For those of you remaining listeners, let's go out to Hector in Tampa, Florida. What's up, Hector? Hey, John. Hey, Rachel. My wife and I have a question. We're not sure what to do. I'll give you guys our numbers and then ask my question. We earn a combined $145,000 a year. We have a

main property, which we live, which we owe $266,000. That's worth about $525,000. We have a rental property that we owe $50,000 and it's worth about $200,000. And we have a property, just a bare ground. It's free and clear. It's worth about $40,000. We have $18,000 in debt and $75,000 in savings. We're not sure if we should sell the rental and the land and use some savings to possibly pay off our mortgage of our primary house, or if we should use savings to pay off the rental and the debt that we have. That's a good question, man. Okay. So if I were you, Hector, what's the $18,000 in debt?

It's just my wife's car and just a couple credit cards. Okay. I would use some of that $75,000. Go ahead and pay it off. And that'll leave you with $57,000. I'd be debt-free by this afternoon on that thing.

Yep. And then the $40,000 what was that you said was free and clear? Is that another house? That's the property. Okay. What were you going to do with it?

We were thinking about building on it but it's a little bit far from where we currently live so we kind of just hanging on hanging on to it right now okay do you know like percent what would what would it go for right now 40,000 about 40 50,000 oh sorry it's worth that okay yeah yeah yep um we don't know okay you know if you're not going to use it, if it's not a piece of ground that you're like, oh, that's our dream and we really want it, there's a part of me that I'm like, I would sell it

because it's not going to make an income, right? It's not like there's a house on it. And so you could sell it, put some of that money and some of your emergency money and pay off the rental, the $50,000, and then start knocking out your primary mortgage. And here's another thing you can do, man. Rachel, stop me if I'm wrong here, but I'm just trying to follow the baby

steps straight up. You would have $57,000 if you paid off that $18,000 this afternoon. You take $50,000 of that and pay off this next last remaining debt, which is the 50 grand left on that rental property. And then you only have left your mortgage and you've got 7,000 bucks in the bank. You sell that property. That's just dirt, just sitting there. You sell it for 40 or,000 or $50,000 and now you got your money right back or you roll that money up and you drop your mortgage to, I don't know. Actually, I would

keep it and have it my three to six month emergency fund. I'd sell that property, pay that rental house off. Do you like the rental house? Not to low, but I like it as a rental property. okay so it makes good income you feel like if you didn't have this rental house and you had a paid off primary house and you had no you guys had no debt would you go and be a landlord like would you choose to to invest in real estate

yes my wife and i do like real estate. Okay. Okay. Let me ask you one other math question. What is your monthly mortgage payment? Um, it's a 2000, 2000. What do you bring home on this, uh, rental property? What does it, what does it net you? Um, about $200. Okay. So, and again, I have a very primitive mind and I own no real estate. Okay. The way I would look at this in my home is I'm trading that 200 bucks a month for my $2,000 mortgage. I would rather have a net gain every month in my home of $1,800. You see how I'm getting there? I would rather pay my mortgage off, no longer send $2,000 away, have $2,000 minus the $200 I could have been earning on real estate, and I'd have $1,800 in my wallet more every month. And I know that doesn't take into perceived that is

the rental for that uh rental property it's about 1500 that would be what would be coming in if we had it paid off i don't know if that matters oh against your mortgage okay yeah so that's just trading 500 and then there's the appreciation so um it's almost $6,000. We have to lose another million. I mean, honestly, Hector, if you owed, considering what you guys make, and if you owed $200,000 on a rental, I would sell it. You guys owe $50,000. That's what I'm saying.

You're so close, man. And you can clean it up with the sale of the land and the savings. And there's a part of me, have a paid-for rental, use some of that rental money to go towards your primary mortgage

and then attack the primary mortgage and that be your next. Does that make sense? Yes. Yeah, that's what I would do. And I remember on a different call, Dave, who shocked me, same kind of situation. And he was like, well, as the numbers are working, you could have it paid off and then you throw it.

And I was like, I thought you just say sell everything. I mean, you're pretty close. That's what I'm saying. Yeah, as the numbers are working, you could have it paid off. And then you throw it. And I was like, I thought you just say sell everything, you know? I mean, you're pretty close. That's what I'm saying. Yeah, because the ratios are so small in what you guys have with cash and what you could get with the sell of the land. Man, you could get there so quickly. But it's a great question, Hector. Great question.

Yeah. And for those listening, this isn't licensed just to like, oh, cool, we can go. Go get rental. Yeah, yeah, yeah. No, it's ratios of income and where they're at with cash flow makes a huge, huge difference. So, John, I know one issue you don't have in life is switching wallets and purses. Whatever. I've got such a, I got a giant costanza wallet that i need a slimmer

version of oh really well uh as as a lady you know i have multiple bags and purses as a lady i have to you know it's like am i am i taking the big bag am i taking the backpack because i have all the kids stuff am i coming to work and i need this part like i'm switching stuff all the time and so when we talk about being smart with money and budgeting having cash available and having an envelope or an envelope system is is key to sticking to your budget so i have the rachel cruz wallet that has multiple envelopes within the wallets and then we just launched very recently the rachel cruz slim wallet that's for me there it is the slim wallet this is just for you i was about to call you george john and and it's great because it's a card holder and everyone's like that's a lot of cards for people that just talk about debit cards

listen there are other cards insurance library card license everything but lots of car hold card holders and then in the back there is one um kind of zip feature that holds one envelope for cash so if you have that one category you think i need yeah that i need to uh have cash for it's there so it's available in three colors black camel and champagne this is the one i personally use i love it because again i'm switching george george camel man just for him uh because i'm switching back George Kimmel. Yeah, George Kimmel. Made it just for him. Because I'm switching back and forth, back and forth all the time.

So it is made with genuine leather. You smell it? That's cool. It's so great. It's so great. It's cool. But we partnered with our friends at Join. They're out of India.

Yeah, they're amazing. And they're amazing. They're a fair trade company and employ people in really hard places and give them work and trade and skill, and they're amazing. So anyways, if you want to check it out, the new Rachel Cruz Slim Wallet is available for $39. Go to ramsaysolutions.com today to get yours. Thank you, Rachel. It's a great

Christmas gift, and I didn't do this at the top of this last segment here. Today's scripture of the day is Ephesians 4, 22 through 24. To put off your old self, which belongs to your former manner of life and is corrupt through deceitful desires and to be renewed in the spirit of your minds and to put on the new self created after the likeness of God and true righteousness and holiness.

Ralph Lauren says, the world is open to us and each day is an occasion to reinvent ourselves. Oh. Did you say Lauren? How am I supposed to say it? Is that right? Me and Ken Coleman had the longest talk about this.

Oh, my gosh. Lauren. Do you remember that? Ralph Lauren. Or Lauren. Lauren. Lauren. He actually says in the Oprah interview, Lauren.

He doesn't say Lauren. People claim he does. I don't know. It's a good debate. I'm going to disagree with you. It's one of the least productive debates ever had in the history of debates. So thanks for bringing that to our lives, Rachel.

You're welcome. Everyone in this room is now dumber for what you've just said. Hey, I want to thank everybody in the booth. Thank you all the listeners. And we will see you soon. Be kind to one another. Pay off your debts.

Hey, it's John Deloney, co-host of The Ramsey Show. Did you know over 18 million people listen to The Ramsey Show every week? A lot of those people listen on one of our 600-plus radio stations across the country. To find a station near you, go to RamseySolutions.com slash show.