The Ramsey Show - App - There's Never Been a Government Program That Led to Abundance! (Hour 3)

Episode Date: February 16, 2021

Debt, Investing, Retirement Sign Up for a FREE trial of Ramsey+ TODAY: https://bit.ly/31ricKt  Tools to get you started:  Debt Calculator: https://bit.ly/2QIoSPV Insurance Coverage Checkup:��https://bit.ly/2BrqEuo Complete Guide to Budgeting: https://bit.ly/2QEyonc Check out more Ramsey Network podcasts: https://bit.ly/2JgzaQR

Live from the headquarters of Ramsey Solutions, broadcasting from the Dollar Car Rental Studios, it's the Ramsey Show, where debt is dumb, cash is king, and the paid-off home mortgage has taken the place of the BMW as the status symbol of choice. I'm Dave Ramsey, your host. Thank you for joining us. Open phones at 888-825-5225. That's 888-825-5225. Troy is with us in Chicago to start off this hour.

Hi, Troy, how are you? Hey, Dave, thanks for the call, mate. Big fan of your show. Well, thank you, sir. How can we help? I've got a couple questions for you, sir. How can we help? I've got a couple of questions for you, mate. So my wife and I, we are looking to move to Australia in roughly one to two years. The question is, the main question is, we don't really know what to do with our money until then. So we're completely out of debt other than our mortgage.

We have about $110,000 left on our mortgage, so we know that we won't have that paid off in one to two years. So I'm wondering whether you would suggest to invest money or just keep counting extra payments onto the mortgage whilst we're still in America. You're going to keep the home here? Well, I would love to. I mean, we love the house. You know, we got it for pretty cheap. But I just don't like the idea of being a long-distance landlord, let alone a landlord halfway across the world. I can agree with that.

Okay. And so when you sell the home, obviously, you're going to cash out and take the money with you. So do we park the money in the equity of the home by paying down the mortgage from now until the time you leave, or do we park it somewhere else? That's really the only question. Yeah, yeah, that's the question. And then obviously, the next question would be, you know, how do we go about your advice on how to transfer our money from, you know, America to Australia once the time comes that we make the move. Yeah.

I think the exchange rate to Australian dollars is fairly stable. I don't think there's a big shift in it. And so I wouldn't be concerned about losing a bunch in the next two years on the exchange rate. I think you're probably okay. Yeah. I mean, the Australian economy is, you know, solid. It's obviously a world-class, wonderful country. The, hmm, I mean, either one is okay.

You've obviously, and I'm just looking at your situation, you've been very disciplined. You've done a great job. You're debt-free except the home. You've got $100,000 laying there. You've got our $100,000 mortgage. You've been very disciplined. You've done a great job. You're debt-free except the home. You've got $100,000 laying there. You've got a $100,000 mortgage. You've got money saved. So the only difference between the two is this. If you park it all in a money market account between now and then,

instead of paying extra on the mortgage, you will make a money market account rate of return. Let's call that 1%. Yep. If you pay down the mortgage, you will make what on your mortgage? What's your mortgage rate? So mortgage rate's at 3.25. Okay, so you make 3% on your money if you pay down the mortgage.

Not a big difference. Not going to change your life one way or the other. Okay, so that's almost a wash. The only other thing that could come into play is if you put it in a money market account, you might, by having access money market account you might by having access to it you might have more of a probability of spending it where if you pay down the mortgage you can't get to it but you're really disciplined so i don't think you'll spend it yeah when it comes to the spending uh you know we should be pretty good on that i i kind of have and i i want

to kind of get your feedback on it i kind kind of have more of an aggressive idea, possibly. We're in our 20s. You know, we have a pretty big amount saved. We've got $35K in savings in America. We've got $40K in an Australian savings account. Both our Roths, we've maxed those out both the last two years, and I've got roughly $ 12K in single stocks. I didn't know whether you think I should just up my single stock investments more along the lines

of ETF and mutual funds. I don't know what your advice is. Well, I wouldn't do single stock investments, but I might do an S&P 500. That would be okay in an ETF or not, either one. But just an index fund to park some money in. Sometimes I park it there, knowing that it could go down. Yep. But you won't lose it all. That's not going to be a problem. It's just you may not make, you might not make anything, or you might make 10%, you know, during this time.

And so, you know, how much money do you think we'll park in the next two years? So at the moment, we have enough to double pay our mortgage each month and do our Roth IRAs, but I've already maxed out our IRAs for this year, so we'll probably have around an extra two, two and a half grand a month to play with. So 60 grand is what we're talking about, and so if you made 10% on it, it'd be $6,000. If you lost 10% on it, that'd be $6,000. So it's not going to change your life. So if you want to play with some of it, that's fine. If you want to take a medium approach and do half of it into a money market,

half of it into an index, you could do that. If you want to take a more conservative, you could throw it on the mortgage. Super conservative, just park it in a money market. So there's kind of four different items on this gradient, if you will, that would work. And, you know, you're looking at the far right, the most aggressive of the ones. And I don't even have a problem with that because it's not going to break you and it's a short term. So if you want to play that way, that's fine. What part of Australia are you from?

So I'm from Orange. It's a little town probably three hours west of Sydney on the east coast. Okay. All right, cool. We had the pleasure of spending a month there last February before everything broke loose and just fell in love with your country and your countrymen. I love Australians.

I mean, that's the reason we're moving back i've been in in the states for probably 10 years um you know going back and forth and and you know we we like the weather in australia we like the people and the laid-back lifestyle so i think that's where our transition is going to go yeah i don't blame you i i uh it says um we we just fell in love with you guys so have have fun, man. And, you know, so anywhere between the aggressive on the right, which would be the ETF or the S&P 500 index fund, something like that, no single stocks, all the way to on the left, the least aggressive would be just dump it on a money market. And in between there, you could pay down on the mortgage and or do a hybrid of those three anywhere in there to create the risk management mix that you feel good about. But you've done a really, really fine job, sir.

Very well done. And enjoy your move back. And, again, we just fell in love with the whole culture and the people. And just fun stuff. Open phones at 888-825-5225. Your book says to sell your ankle-weight cars, Courtney says. How do I do that if I'm upside down and have no savings? You have to borrow the difference or go get six extra jobs and pay the difference.

One of the two. You have to get out of the amount you're upside down so if you owe um 20 on the car and it's worth 17 you have a three thousand dollar hole you have to borrow the three thousand dollars on a credit card a personal line of credit at your bank or credit union um and or earn that extra three thousand dollars right quickly by working 16 jobs and just going crazy, crazy, crazy, crazy, crazy, scratching up the money to get out from under the car that is killing you. And it is just a car, and you will get you another one. Drive like no one else so later you can drive like no one else.

Live like no one else so later you can live and give like no one else so later you can drive like no one else, live like no one else so later you can live, and give like no one else. Put you in a whole different position. This is The Ramsey Show. I've been telling you for years that credit monitoring is a complete waste of money. It makes no sense to pay for something you can easily do yourself for free. Credit-related fraud only accounts for about half of all ID theft events. So what protection are you really getting? Instead, you pay twice as much and get half the protection.

That just doesn't add up. This is why the only ID theft protection plan I recommend and use for my family and our entire team is through Zander Insurance. Zander's program provides smart prevention tools to help reduce your risks and takes over all the work if you do become a victim. That's a big deal. They even cover your bank accounts if they get hacked, and your kids are free on their family plan. Go to Zander.com or call 800-356-4282.

It's just the smarter, more affordable way to go. The key is getting protected before you're a victim. And it's too late. That's Zander.com. Thank you for joining us, America. Michael is in Philadelphia. Hi, Michael. Welcome to the Dave Ramsey Show. Hi, Dave.

Thanks for taking my call. Sure. How can I help? Well, I guess let me just give you a brief story, a synopsis. About probably 12 years ago, my wife bought, I believe, two of your books, and we bought the financial piece for the PC, and I never jumped on board with it. We never seemed to make it happen. January, I watched your reset 2021.

Wow. How inspiring. January I watched your reset 2021 wow how inspiring so I've been binging all of your YouTube all of your podcasts and I've done it so much that my wife woke me up the other night and I was like did you merge the money she's like go back to sleep okay time to back it off a little, Michael.

Exactly. That's it. It went unhealthy. So we purchased the Ramsey Plus, and I love it. It's a great tool, and we're learning how to work it. And we finally sat down and did a really good budget for the first budget. Good. And we're just so excited.

We had Valentine's Day, my birthday, Valentine's Day. And literally Saturday night, I was out playing on a snowboard with my sons, and I stepped off the snowboard onto the sidewalk, slipped and fell, and fractured my ankle. Oh, no. Yes. And it's probably a nine month recovery i go in for surgery on monday wow yeah and i'm pretty much the major breadwinner so it kind of uh has shot you know like a hole in the budget at this point. Yeah, you think? What do you do for a living? I'm a carpenter.

Oh. Slash contractor. Yeah. I was supposed to start laying hardwood floors yesterday, so I already spoke to the homeowner, and so, you know, it's really putting a wrench in things. So I've already gone online and looked for jobs that I could do from home, maybe sales or something, because I have done in-home sales. So I'm trying to do that, see if I can get some cash flow going. My wife is going to us through these next few months so that we don't fall behind on our mortgage and our trustee payment? I filed for bankruptcy a year and a half ago.

So I have a trustee payment plus my mortgage payment. We're trying to keep the house. How much are each of those? The mortgage is $1,120, and the trustee is seven 700 yeah okay all right uh no the thing the thing the thing is you're not going to be working your baby steps plan right now let's just take that off the table okay okay for now, you're pushing pause on your Baby Steps plan. And the money that comes in, here is the order of priority. Okay.

The first money that comes in covers your food budget. You're still doing a budget. Yes. Okay, you're still living on a plan. You're still going to be very focused. You're still going to be able to apply the things you're learning. You're just not really going to expect a lot of progress because you have an income crisis with this injury it is temporary though that's the good news okay so food is first okay you'll

make enough to do that agreed yes lights and water are next You'll make enough to do that, agreed? Yes. How much are your car payments? No car payments, sir. Great. So a little bit of fuel and you've got some transportation, maybe the insurance bill, you've got some transportation, and you'll make enough to do those three things.

So we've got food, food utilities and transportation on the basic necessities of life the next one is shelter and so the fourth item you do is your house payment i think you guys can make enough to do those on a bad month yes i mean it's a couple of grand between the two of you i think you could i think you can scratch that out on a bad month. And then the next one is going to be the trustee payment. And I don't know if you'll get there on a bad month. On a good month, you'll get there.

And you may want to be in touch with the trustee's office as soon as you think there's a problem, not ten minutes later, right then. As soon as you actually see, not I'm afraid there's going to be a problem, but as soon as you actually see there is a problem, I can't make this payment this month, and you call them right then, and then you tell them this whole story. I wouldn't call them ahead of time. It's not going to do any good.

They don't care. But the trustee's office on Chapter 13 bankruptcy is some of the more competent people in the bankruptcy world. They actually do a pretty good job in most cases. And so, you know, I think you'll get some help. They'll tell you how to get some relief if you get a couple of trustee payments behind or something like that. They probably will help you get through this of trustee payments behind or something like that. They probably will help you get through this, okay? But here's the thing.

What I have learned when Sharon and I were broke and going broke was that if we can eat and keep the lights on and keep a roof over our head, the rest of it's just a Monopoly game that we're behind on. But when you can't keep those basic things doing it, it starts to become very emotional. And I know you can cover those basics. So every one of those you cover as you go down that list, the more peace that comes to you as you get through this process. Now, you said that the hardwood floors, you were personally laying them, but you also act as a GC sometimes, a general contractor, meaning you bring in some labor, right? No, I typically do all the work myself. I'm my employee, basically.

It's hard to find good work in this area, good help in this area. It's hard to find good help in any area. Yeah. But you need to because your best chance of making really good money while your ankle heals is standing over somebody's shoulder watching them do the work that you hired. Right. I think you can make more money running the jobs than you can working a sales job on the side that you've never done before. Okay.

So you've got to scratch up some help, dude uh yeah and i and i got it and i have to i guess i have to contract a different way because right now this this customer has been paying me by the hour oh yeah yeah you got a contract by the job yeah so that you cover the wood and the um or you cover at least them at least the labor by the job so that it can encompass you looking over someone's shoulder, and it might be a different kind of a job that you're doing. You know, these may have been smaller jobs. You may have to raise the size of the job. But, I mean, you could watch over two guys that you brought out of a labor pool to build a deck,

and they can build a deck, and you give the people a price for a deck, right, or whatever it is. It's the kind of stuff you know how to do, but you just won't be swinging the hammer. But you can pull up a lawn chair and just sit there with a glass of lemonade and watch it happen and put your foot up, and that's what you're going to have to do. I think you can make more money doing that than you can some kind of side hustle until you get this ankle healed enough that you can actually work again. But the point is this, three things. Number one, when you prioritize and you take food and shelter

and transportation and utilities off the table pretty quickly as a worry, you got less to worry about, and you can learn to fight through the little bit that you have left to fight through and admit that you're not going to make as much progress, if any progress, during this healing time. Dadgum snowboard. Oh, my gosh. That's so harsh. And about the time you're about to get everything started, too.

I'm so sorry. Well, you stick with it, brother. We'll walk with you in Ramsey Plus, and I think you can turn this around. What a wild story. What a wild story. What a wild story. So when you're facing troubles with your income, for whatever reason, pandemic, broken ankle, whatever it is, when you're facing troubles with your income, then what you have to do is prioritize your spending. And it always starts with necessities, food, shelter, clothing, transportation, and utilities.

Those are fourth grade civics, eighth grade civics class. And we learned the difference in a want and a need. And you'd be amazed at how few actual needs you have. And how many wants we all have when you have to choose. And it's a horrible exercise. you have and how many wants we all have when you have to choose. And it's a horrible exercise, but it's actually a very inspiring exercise to go through. This is The Ramsey Show. Well, here's some joyous news. Tax season is here. Yay.

My advice is this. Do your taxes as soon as you possibly can. Even if you're going to owe, at least you have them done and you know exactly what the target is. Get your taxes done. The reason I say do them early, not in March or April, is because you'll be under far less stress. And less stress means fewer mistakes. Plus, if you owe taxes, filing early means you can start saving. And if Uncle Sam owes you, then what the heck are you waiting for?

Get them done so you can get your money back quick. If you need a tax pro, you've got to get one now. Tax pros get really busy in March and April. And the sooner you reach out, the better off you're going to be. If you have a simple tax situation, hurry up and file your taxes online using Ramsey Smart Tax, which is an inexpensive way to do it online, and it's free if you're a Ramsey Plus member. So here's what I want you to do. Text TAX to 33789.

That's TAX to 33789, and you can get connected with a tax pro or sign up for our tax software, Ramsey Smart Tax, and get your taxes done early. Get it done. You know what you're facing, and it's out of the way. Travis is with us in Long Island, New York. Hi, Travis. Welcome to the Ramsey Show. Hey, Dave.

Thank you for taking my call. Sure. What's up? All right, so I'm 23, and I've saved $55,000 over the five years. I didn't go to college, and I'm in no debt. But I've been thinking about going to college and actually moving to New York. I mean, not from New York, to Florida instead of being in New York. And I was just wondering, like, I was thinking about renting there for a while and then maybe like paying into college every semester with my money.

But my parents are kind of telling me that like the money in the bank is more important. And it kind of feels like they're telling me I should be saving more money. So I'm not really sure what to do. Money in the bank is more important than what? Than? Going to school? I guess. I think they would like me to have a, what's it called, a loan with the college and then pay it.

But in my head, I'm just like, I'd just rather just pay it. No, we're not going to do that. That's not wise at all. If you're going to go to school you should pay for it now then that then the next decision is are you going to go to school and what are you going to study and why are you paying for this education right and so it becomes like real money when you're spending your money and so you're thinking what's my return on this investment that i'm making in other, you're going to get a degree. If you spend $55,000, you want to get a degree that causes you to make more than $55,000 back in the next few years.

Exactly right. Correct, yeah. Yeah, so what are you going to study? I was thinking about going for electrical engineering. I came out of high school, and I was doing, like, broadcasting stuff, but I really didn't like the broadcasting side. I actually liked the equipment side more, so I was looking into it more, and I thought that electrical engineering would be more my speed. It's a wonderful degree, and you obviously have a bent that way,

and the good news is you've worked long enough that you discovered that. And so this is not a wild guess. This is something you've actually found a passion for and obviously a degree a four-year degree in electrical engineering you're a freaking engineer that's going to make you a lot more than fifty five thousand dollars back if you could get that degree for fifty five thousand i don't know if you can or not where are you thinking about studying? I was looking into, like, UFC, somewhere around there. UFC's a great school. That's a great school. I was also thinking, like, if I should take a portion of that money and, like, buy a condo for, like, $90,000.

No. And then, no, I shouldn't do that. If you're going to go to Florida and go to college, let's just concentrate on going to college and paying cash for it. We don't need to make a bunch of other investments. And so then the next thing is, how long do you have to be in Florida before you can establish in-state residency? Have you found that out?

Yeah, it will be one year. You need to go down there and work a year because the in-state is going to be one-third or one-fourth the cost of out-of-state tuition. Correct, yeah. Also going to be bugging the people in the admissions going to be one-third or one-fourth the cost of out-of-state tuition. Correct, yeah. Also going to be bugging the people in the admissions office to see if they'll waive that and let you get started. Okay.

Because I want to pay in-state tuition. Would I be with all the admissions officers? Yeah. And be like, hey, I'm from New York. Well, and I've been here four months, and I'm going to be here the whole year. If you guys will waive it, I can get started in September. Okay. Instead of next January, right?

Yeah. Or even worse, the following September. And they probably would like to have some students, although the UFC is actually the largest college in America today. It's a monster, but it's a wonderful school. We've done events on that campus and always had a great experience being there. And so I think it's a good choice. I don't know anything about their engineering program. I assume it's okay.

But it's an in-state school, and you should be able to get in-state tuition, and I would bug them about giving it to you early. A lot of states have programs like that, especially for adult students like you are. And especially right now during the during pandemic they're like need students because a lot of people bailed out of college right now and so it might be that you can get some mercy there and go ahead and get started but then you're going to be working your butt off because fifty five thousand dollars is not going to pay your living expenses your tuition and books for four years. Yeah, true. So you're going to be working also to get through this and applying for scholarships and anything else you can do to keep the costs down.

But don't pay triple tuition to just get started early. Just go ahead and go down there and work, pile up some more money, and get ready to go. But I think it's a fine degree field, and to start it at 23 is not the end of the world. As a matter of fact, you'll probably plow on through it pretty quick uh because you're you know you're gonna be very focused you're not there to party you're there to you're not there to get a degree in beer pong you're there to get a you know electrical engineering degree which is a fine degree and will you make was an electrical engineer on average make more than the typical high school graduate by $55,000 or $60,000? You bet he does, or she does.

Absolutely. It's definitely worth it. Scott is with us. Scott is in Indianapolis. Hi, Scott. How are you? Hello, Dave. Thanks for taking my call.

Sure. What's up? Hey, I'm a single 60-year-old male making about $130,000. I've got $450,000 in 401k savings, and I'm looking to retire sometime mid-year. They will give me $190,000 to exit the building for the last time. But the question is social security offset. Um, my, my pension payment could be $40,000 from now until I turned 67, which is full of social security age, or it could be $17,000 for the rest of my life. I lean towards taking the money up front and letting the 401k roll just a little bit.

Am I right in that decision? Yes. Would you take the money up front? Yes, I would. Okay. Take it as fast as you can get it, and even if you don't need it, go ahead and reinvest it, because the reinvested portion will make you more than the difference over the rest of your life if you manage this well.

Yes, sir. And if something happens to you, you know, all that money's there versus if something happens to you and you didn't take it, it's gone. Yes. Yes, exactly. I also own a home out of state where I'll be moving, which is free and clear. I have a $115,000 mortgage on a $200,000 house in Indy, which will be sold. So we're looking at probably $70,000, $75,000 in equity. So I hope to put that money for the next couple of years with my pension. Yeah.

Hope to be around 75K income, you know, for the rest of my life, hopefully. That's what it sounds like. Sounds like you've done very well. Congratulations. Well, thank you. And that's what I was looking for. You know, sometimes I'm just not real sure whether I'm never really sure whether I have enough money or not, you know? Well, I mean, you don't have $4 million, but I think you've got enough, and you've pulled these numbers together to where they make sense, me listening to them. I'm giving you a whole three minutes of analysis, and it costs you nothing,

so it's probably worth what you paid for it. But my feeling on that math was it sounded solid to me. I think you're going to be more than okay. I mean, you're not going to be spending $80,000 a month on cars, but you're going to be okay. Very, very well done. I'm proud of you. Excellent job. This is The Ramsey Show. Thank you. Our scripture of the day, John 10.10,

The thief comes only to steal and kill and destroy. I came that they may have life and have it abundantly. Joshua Marine said, Challenges are what make life interesting, and overcoming them is what makes life meaningful. Personal finance, folks, is 80% behavior. It's only 20% head knowledge. The behaviors and the way you operate your life cause you to be able to build wealth or not.

In spite of all of the things that come against all of us, is systemic racism real? Absolutely. Does it keep someone of a minority who is a minority from becoming wealthy? No. We know this because there are minorities who are wealthy that started from nothing. Lots of them.

Lots and lots and lots of them. But extra hurdles to overcome you bet absolutely what are your options not win and blame it on systemic racism, or when, in spite of systemic racism. These are your two options. Do some people have an easier path than others, depending on their upbringing, their education, the area of the country that they're born into, which country they're born into? You bet. But you can find people who have built wealth and live a life of abundance from every possible walk of life,

starting from nothing. They're there. They just chose to fight through the obstacles, some having more obstacles than others. There are legitimate obstacles out there. The pandemic has slapped some folks around harder than others, legitimately. But the question you've got to ask yourself is, what 10 years from now is going to have led me to a life of abundance?

Is it a government program? Well, the historical answer is no. There's never been a government program that led to abundance of anything except in Washington, D.C. But individuals out here in the real world, we don't become wealthy and successful because of government programs. Stimulus checks, $15 minimum wage, socialist ideals. We become successful because of our behaviors we become successful because we choose our character to be that now does that shame someone that hasn't become successful no it just tells the someone that hasn't yet become successful

how to do it and it's not sitting on your thumb waiting on a stimulus check. It's not sitting on your thumb waiting on AOC or Biden or Trump or anyone else to fix your freaking life. There is not an answer to your problem that's going to come out of Washington. The sooner you take responsibility, the better off you are. And that's not to say that where you are is your fault. It is to say that where you're going is your fault. And your beliefs cause your behaviors. And if you believe the government is going to fix,

or some person, or some movement or crusade is going to fix the barriers that are in your life, you're wrong. And if you believe that, you're going to sit and wait on someone else to fix your life, and it's never going to get fixed. It is up to you. So I started from nothing when I came out of college.

And I started buying and selling real estate. And I became wealthy, at least by a kid from my neighborhood standards. I had $4 million worth of real estate. Made $200,000 a year back in the early 1980s. And that's back when $200,000 was a lot of money. I did a lot of stupid things, like borrow too much money, like borrow it on short-term notes. And our bank got sold to another bank, and they called our notes,

and we spent the next two and a half years of our life losing everything we owned. Some of what caused that were changes in the banking laws that encouraged and allowed the banks to do that to me. And for a while, I sat around and blamed the mean old bank. And I blamed the IRS. And I blamed Ronald Reagan for changing the laws in banking that affected the SNLs. And caused the SNL crisis, by the way.

The destruction of an entire section of the banking industry. I blamed everyone else. And I sat there for a while getting absolutely no traction and not recovering at all from my losses, and I just sat on my thumb and whined about everybody else picking on poor old Dave. But the revelation came along that if you're going to have that many lemons, you might as well make some lemonade. And a good friend said, you need to stop your whining.

You want some cheese with that whine? And you need to get up off your butt and go fix this. And oh, by the way, figure out what you learned from all this pain. What'd you learn? What'd you do wrong that you'll never do again? Figure out what your never-agains are because of this. And so I started studying rich people, not broke finance professors with a theory, how they get rich, where their money come from, and how did they get it.

And I was a baby Christian, and I started studying the Bible and what it has to say about money. And both those sets of principles lined up. They're called common sense. Get out of debt. Live on less than you make. Work like a maniac and create income. There's a great place to go when you're broke, my grandmother said, to work. It will change everything when you do that.

Everything. And so when pandemics come, bankruptcies come, when 2008 comes or 9-11 comes, when racism comes or wealth inequality comes or someone treats you poorly because you have a southern accent or a northern accent, or you have a college degree or you don't, or you have student loans or you don't, whatever your mountain is that you have to climb, and you have a mountain you have to climb, some are taller than others. But you've got to climb the mountain. So you need to sit down and say, you know, what have I done wrong so far? What are the lies that I believe about life that are holding me back? And what am I going to change?

A lot of the things I believe came from the neighborhood I grew up in, and a lot of the lies I had to lay down and never again believe came from the neighborhood I grew up in. Some of the best qualities came out of the household I grew up in, and some of the lies that I had to lay down came out of the household I grew up in, and some of the lies that I had to lay down came out of the household I grew up in. And that's true of every one of us. Every one of us. So growing up is setting down the lies and embracing the truth and hustle and grind. Get up and leave the cave and kill something and drag it home.

If you believe someone is coming to your rescue, you're screwed. Because no one is. It's up to you, baby doll. Suck it up, buttercup. You got this. You can do it. I know you can do it. Because I've watched tens of millions of you do it.

Lay down the lies, pick up new beliefs, embrace new behaviors, and change your freaking life. Don't wait on the government to do that, for God's sakes. That puts this hour of the Dave 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. Did you know you can listen to The Ramsey Show on your smart speaker? Just tell Alexa, Google Assistant, or Siri to play The Ramsey Show podcast.

Check out all Ramsey Network shows on your smart speaker today.