The Ramsey Show - App - THIS Is What It Looks Like To Change Your Family Tree! (Hour 1)

Episode Date: October 13, 2021

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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. George Campbell Ramsey Personality is my co-host today. We're answering your questions about your life and your money. You will know George's voice from several of our podcasts, the Borrowed Future podcast, which millions of you have downloaded now. The new Fine Print podcast, which is, wow, it's come out of the gate like a super popular thing because it is very well done. And of course, he's the out of the gate like a super popular thing, because it is very well done.

And, of course, he's the host of the Entree Leadership Podcast. So, Fine Print has dropped another episode this week. We've got ten episodes total, and this was like number seven, right? Yeah. Yeah, the Dirty Truth About Credit Scores. That's one you've been railing against for years, Dave. And so I just wanted to, once and for all, you can send this to your friends and go, just listen to this. Listen to this 25-minute episode on credit scores

to get the skinny. Yeah, because we've done one on Bitcoin. It was very good. I listened to the one on miles and points. Oh, credit card rewards. That was well done. Thank you. Chuck E. Cheese. Chuck E. Cheese. Nice play there. Best analogy I could come up with. Well played.

Well played. Because it's beautiful, too. I mean, it's the exact same thing yeah it's all it's all psychological sticky hands gamification sticky hands you gotta have open phones at 888-825-5225 as we answer your questions about your life and your money shane is with us shane is in indianapolis hi shane how are you hey dave i'm doing well how about yourself better than we deserve what's up well great um my wife and i are seeing a move in the next one to three years um i'm debt free other than my house i owe 115 000 on the house right now um and i have 125 000 in cash and then i also have $20,000 of an emergency fund.

Way to go. Thanks. So I'm wondering just do I pay out the house now or knowing that we're probably going to move in the next one to three years, do I continue on the path that I'm on of just stacking away cash? Pay it off, and then you can stack more cash because you don't have a house payment. Yeah. Yep. Okay. Yeah. Yep. Okay.

That's impressive. Shane, how did you save up $125,000? I'm just curious. We just kind of had a wildly important goal of my wife staying at home. And we thought the best path of doing this, you know, is to pay off the house and to remain debt-free. So early on, we started off, we took your financial peace university before we got married, and we've kind of just always lived by your rules and principles. You're doing extremely well.

I'm very proud of you. Let's back into why I said to do that, okay? Okay. You're going to move anyway. Obviously, you know that when you sell the house, they're going to give you a check. So you're not losing the money. You're not spending the money. You're not consuming the money.

It's just changing positions, which asset it's parked in, right? And so you're doing away with a mortgage, and your interest rate is higher than your savings rate on your savings account. So you're mathematically going to win a tiny, tiny bit there, but it's not really worth doing it for that what will happen is this and this is what i it took me probably 15 or 20 years of doing this before i really gave credit to this because i'm a math nerd i wanted everything to be a math thing but here's the weird thing you make different decisions with a paid for house yeah you just do because your head space you're where you are spiritually where you are relationally changes and so i'm not saying you'll stay because it's paid for i'm saying you're going to kind of feel um very confident edging on cocky as a seller

because i don't have to sell it and um i'm you know i'm going to get a price and there's nothing pushing this there's no there's no uh i just don't have to be in a hurry because i don't have any payments also you're going to be able to pile up cash like a crazy man because you don't have the house payment anymore that works too and you're obviously very good at that congratulations again i'm very impressive uh but but you, even stuff like, you know, another wave of COVID comes through or just a wave of political stupidity comes through, which seems variables that we don't have control over our spirits and our decision making is much cleaner and wiser when we're sitting in a paid for house than when we're sitting with 115 000 120 000 in the bank and not a paid for house it's just weird and it doesn't it's there's no math to it it's just a the borrower is slave to the lender and the slave when he no longer has a master, is known as free.

And it just, you know, think about a slave and how their mentality changes. And there is something to that that is beyond just the apparent mathematics. Yeah, absolutely. And not only that, but you're saving on the interest you're going to pay to this bank. You're freeing up the payment. And you said at the beginning you have this wildly important goal so that your wife can stay home. And so if you can do that earlier now with a paid-for house, this is fantastic news.

Well, she's probably already done it. I mean, it's just incredible. Very, very well done. Sharp young couple. And I'm glad that what we do at Ramsey was able to add value to somebody like that's life. Yeah. Very, very.

More of that. I want to see that happen all over the yeah i mean what problems to have i have the money in the bank to pay off my house should i do it this is a this is a better much better question than i'm four payments behind yes how do i stop the foreclosure yeah because we have done detailed research and 100 of the foreclosures occur on a home with a mortgage ironclad data it just straight up. There's no question about it. So there is risk associated with it, and we just do not perceive the risk because we all understand that housing is such a good investment,

real estate is such a stable investment by and large, and so we don't assign any emotionally and spiritually any risk to the process. Now, Shane wasn't pushing back back but some of your you know dave remsey lost his mind he told that 32 year old guy pay off his house he should have been telling me no no dave's not lost his mind the instructions i gave him were the shortest distance between where he is now and wealthy and we know this from the millionaire data yeah and we're seeing this where a lot of people have a stack of cash and they go, well, Dave, it doesn't make sense to pay off the house.

I could invest that. The market's doing so well right now. It is. But those people have never felt the feeling of having a paid-for house with no mortgage payment. And here's the thing, too. If you don't think there's an emotional element to it, just reverse the process. What if you were sitting with $10,000 in the bank instead of $125,000 and your house was paid for? Would you go borrow $115,000 on your house in order to put it in the bank and have $125,000 in the bank with a mortgage?

Reverse the process. And I mean, I would say 98% of the time I ask the question in reverse like that people just go well no but it's a trick question because it tricks you to thinking with your heart not just your head and your heart's where you measure risk your math's where you do math oh that was good your head's where you do math your heart's where you measure risk and you just kind of you have almost a visceral reaction to that no i wouldn't do that but well it's the same thing yeah you get excited about seeing that money grow in an investment but you don't take into account the risk when't do that. But, well, it's the same thing. Yeah, you get excited about seeing that money grow in an investment, but you don't take into account the risk when you do that.

But when you talk about borrowing money on a paid-for house, you feel the risk for the first time. Yeah. All of a sudden, all of your, in quotes, air quotes, sophisticated math goes out the window. Yeah. Yeah, I say air quotes because it's not sophisticated, because you left out risk, and sophisticated math would include risk.

This is the Ramsey Show. Hey, it's Christi Wright. Do you ever feel lost, maybe a little alone? We have all had that feeling. And I'll tell you what has helped me in these moments is listening to worship music. That's why I'm so excited to tell you that we are partnering with the number one daily worship app called Glorify. This helps remind us that God is with us. And the best thing is Glorify is free to download.

Just search for Glorify in your app store, or you can get 50% off their full library when you use the code RamSEY by October 31st. George Campbell, Ramsey Personality, is my co-host today. He is also the host of the ever-popular podcast, The Fine Print. Be sure and check it out. Ramsey Network's producing all kinds of wonderful podcasts these days. And we've got a little documentary coming out tomorrow. It's big, Dave. It's not little.

Nothing little about it. And I'm telling you, it's a big deal. I've been doing little documentary coming out tomorrow. It's big, Dave. It's not little. Nothing little about it. And I'm telling you, it's a big deal. I've been doing media all over the nation. They're wearing me out around here. And I'm about to do about 20 more hits tomorrow on it to promote it. And it's going to be mammoth. I mean, I'm so excited about it. It's so well done.

Borrowed Future. How student loans are killing the American dream. The epic failure of the student loan program you watch this with you're going to go every teenager in america needs to see this and every parent of every teenager needs to see see this so they grow a backbone and don't allow their kids to make some of the mistakes that people make all the time 45 million americans in student loan debt. That's a lot! Wow. It's crazy.

Yeah, well, I just talked to Seth Frotman the other day, who's featured in the documentary, and he was giving me the update on where things are at two years later, because we interviewed him back in 2019. And let me tell you, it's dismal. Not a lot has changed. No. The hope that people had, they're still hoping. They're waiting with bated breath for forgiveness and new legislation and a new president.

And is he going to do what he said he was going to do? And we just want people to be free and to take control for themselves. If you wait on Washington to bless your home, you're going to be a loser your whole life. Your home has to be blessed by you and your hands and your work and your decisions and your critical thinking skills. That's what's going to happen that's real. So, yeah, these are the people that get out of student loan debt and uh the you know the public student loan forgiveness program 98 of those that apply for forgiveness denied people paid 10 years work a job that wouldn't have worked and 10 years later 98 percent denied that's called lying if if anything else had that pass fail rate i mean i wouldn't exist today yeah uh that's called lying to your constituents

when the federal government makes you a promise that 98 of the people don't cash in on can't cash in on are denied to cash in on it's a lie is what that is it's just it's it's criminal is what it is. It's like trying to cancel Comcast. It's nearly impossible. Very few people are able to withstand what it takes. Well, have you ever tried to cancel a Discover card? It's right there next to it.

Yeah, that's it. That's the truth right there, man. So anyway, check it out. Apple TV, Google Play, Amazon Prime, and BorrowedFuture.com. If you are a teacher and you would like to show this documentary to your teens or preteens, it's free for you as a teacher to show to your classroom. We're not going to charge you a dime, or college even. I don't care.

Just tell me you're a teacher. Go to BorrowedFuture.com, and we will set you up with that. If you're a Sunday school teacher and you want to show it to your teen for teenagers and you want to show it to them, we want to cause a holy ruckus with this. It's time. It's time someone stood up and said, this is wrong. The actors are bad actors. There's so many villains. It was hard to tell the story.

Yeah. A good story has one villain and one hero. And it is very difficult to tell the story. Yeah. A good story has one villain and one hero, and it is very difficult to tell the story. It's filled with villains. This one's like a bad Saturday morning cartoon that got out of control. Yeah. I mean, it's just a bad thing. But you won't be able to put it down.

People that have watched it in the previews, oh, man, they're going nuts. You can't unsee it. At the end, you have to make a decision. You have to go, what do I believe about this? Am I going to support the system? Exactly. Kimberly is in San Antonio. Hi, kimberly welcome to the ramsey show hi dave how are you doing today better than i deserve how can we help

i'm a little nervous right now it's okay we've never lost a patient okay thank you um so we we're an active duty family. Thank you for your service. Thank you. I appreciate it. I just have some questions, and my questions are related to our military lifestyle. I guess my first question is going to be about the Service Members Civil Relief Act, how we can use that in our advantage. For us personally, we have 0% interest in all of our credit cards due to that act. And how can we use that in our advantage? That would be my first question.

I can go into the others, but I know if you want to tackle these one by one. Well, the biggest thing there is that the Service Relief Act gives us two things. One is you've got this 0% that you're able to say, okay, 100% of what I pay on this credit card debt goes on the principal. So it's a real opportunity while apparently someone is not only active duty but deployed into a combat zone, right? Correct. Yeah. But, yeah, it has varieties, but we have been participating for a few years already okay then you're in there good so yeah so a hundred percent of what you pay on these credit cards is going to get rid of them so chop them up and let's list them smallest to largest as far as

the debt rate goes and attack them with a vengeance the other part of the act that sometimes folks have to use and we've used in financial coaching with the military for years, is that if you are behind on something, like a behind on a car payment or behind on rent or behind on a house payment, the creditor cannot foreclose or repossess on you because you're falling to that act until you guys get back and everybody's not you know, not deployed into a combat zone and get back active and so forth. But that's probably not going to apply to you.

But the whole thing is when you got zero percent instead of 18 percent, you know, let's take advantage of that and use that extra that same thing. Those of you sitting on student loans right now, you know, zero percent. So let's let's just use this time not to sit around and twiddle our thumbs and go, oh, we don't have to be in a hurry. We have zero percent. No, this is get in a hurry time. Yeah. And that's what we're seeing. It reminded me of the student loan extended relief where it's zero percent and people go, well, I'm going to take advantage of this. But the real way to take advantage of it is to pay off all your debt and get rid of it. So I don't know how much

debt Kimberly has on this or if she's just saying, how do I take advantage of this card going forward? There is no way to take advantage of debt. That's not really a gift. Yeah, it takes advantage of you. Felicity is in Newark, New Jersey. Hi, Felicity. How are you? Great. Thanks for taking my call. Sure. What's up? So my husband and I are debt-free. We're currently about $30,000 into renting to own. It's an interest-free contract with the option to back out or to buy out at any time. It's through a close family friend of ours who's now looking to close his rental business. And while he's obviously still willing to carry through on our agreement contract, he approaches with the option of voiding the agreement we have

to instead purchase a house for a dollar, both him and ourselves using his lawyer, and then essentially draw up a second agreement that was basically a personal loan between him and ourselves for the remainder of what we owe him on the rent to own. This would also be interest-free, but since we're doing him a favor as well as paying the lawyer fees, he would deduct our total amount by like $10,000 to $15,000. But my husband and I are just a little nervous. We're not sure if that's possible or smart to do and what kind of tax transfer issues we would run into

since it would look like we paid a dollar for the house when really we didn't. Wow. You're not going to run into any problems. You may need to pay more recording fees than you would pay on a dollar, because that is going to be weird. You may want to sign an actual value. for the house, you're taxed on the amount of the sale at that time, the warranty deed, okay, which is your title. And so you're probably not going to want to try to pull that off at a dollar. That's going to create problems for you. But other than that, this sounds a little, why does he not want a lien on the house? Why is he making it a personal loan?

It's just a close family friend. I know, but there's no point. There's no point. That's just weird. It's not really doing you a favor, and it leaves him in a very, very weak position. It doesn't hurt you. Your position's fine. See, if you don't pay and he's got a lien on the house, he could foreclose on the house. You don't pay in this situation.

He just has to sue you. It's an unsecured debt. Exactly. Yeah. There's no harm in what you're outlining. I would have an attorney draft it all. Be willing to pay some attorney's fees to make sure this is done the way it's described here.

But it feels like he's hiding something from someone else is what it feels like he's trying to keep his money off the grid somehow because of course when you record when you have a mortgage it's recorded at the courthouse a personal loan just between you and him there's no public record of it so it sounds like this guy's trying to get off the grid or something i don't know be careful because it's an unusual transaction so i don't know that there's a rat but there's hints of rats here a little nose for the rat people always say when i get this promotion i'll be able to make a real impact. Wrong.

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In the lobby of Ramsey Solutions on the debt-free stage, Adam and Olivia are with us. Hey, guys, how are you? Great. How are you, Dave? Better than we deserve. Hi, Dave. Hi, George. Hey. Hi, George. Where do you guys live?

Verona, New York. Cool. Welcome to Nashville. And all the way here to do a debt-free scream. How much did you pay off? $172,630. Way to go. And how long way here to do a debt-free scream. How much did you pay off? $172,630. Way to go. And how long did that take? 27 months.

All right. And your range of income during that time? $126,000 to $190,000. Wow. Nice jump in 27 months. What do you guys do for a living? I am a maintenance and facilities engineer at an aerospace company. And I'm a project manager for a commercial millwork company.

Okay, so how does your income go up $70,000, $65,000 during 27 months? Change jobs. We've got new jobs. Both of you? Yes. Oh, wow. What precipitated that? Wasn't happy where it was.

Just wanted more money. Oh, yeah. And it was there, so we're going to go get it. Correct. Absolutely. I like it. Good for you guys. What kind of debt was the was there, so we're going to go get it. Correct. Absolutely. I like it. Good for you guys. What kind of debt was the $173,000?

We had a wide range. We had credit cards, student loans, personal loans. We had some medical debt, some previous marriage debt. And, oh, yeah, we paid off our house. Our house. Whoa! Look at the weird people. How old are you guys?

I'm 30. 37. And a paid-for house. Absolutely. You are the weird people. How old are you guys? I'm 30. 37. And a paid-for house. Absolutely. You are so weird. I love it. What's this house worth? Right now, right around $200,000.

You own it, baby. You own it. It's yours. Yeah. We originally bought it about seven years ago for $40,000. Whoa! We've been flipping it since then. Oh, my goodness.

Well done. So on top of paying off the debt, we've also done a few renovations. Sounds like it. Sounds like a couple, yeah. Wow, very good. I'm watching it on the screen here and it looks gorgeous. Yeah. Gorgeous renovations. I also, one of my side jobs was to design kitchens, so I was able to design

ours and actually work in the wood shop to pay for the kitchen. And I did all the construction. You guys are incredible. So what made you, 27 months ago, you know what, not only are we going to tackle all this debt, we're going to tackle the house too. Well, honestly, it started, I had changed jobs back then from my first one out of college,

and I had this retirement account that I didn't know what to do with since I was changing companies, and we met with a financial advisor. Shout out to Michelle. Thank you so much. Who introduced us to Dave Ramsey and his principals. Oh, wow. And the rest was history.

Just like that. Just like that. We were on board from the start. He was a little hesitant when I wanted a financial advisor to come over. He's like, well, how much is this going to cost? But once we got done through the meeting, we were all in. There was never a fight to go on this plan. Right my goodness way to go guys excellent job wow so you just plugged into the podcast or what yes we watched a lot of them watched a lot of youtube videos we we just went

went to town on watching you yeah but a half an hour commute each way um so that was all was on the car i love it well we are honored thank you i'm glad we added value you guys are incredible well done i'm proud of you who was your biggest cheerleaders outside the two of you i would say michelle was probably one of the biggest cheerleaders your your financial advisor financial advisor our parents are obviously super proud of us and um our oldest son aiden loved to see us color in our chart every week and was so happy and cheering us on and excited to get to that next line. Yeah. What made you guys plow through this so quickly?

I mean, you have a great income, but most people would go, you know, we'll get this thing done. But you decided to do it in just over two years. We sold a lot. We did sell a lot. Just running the numbers through Excel spreadsheets, I was like, I think we could do this. And we just put our minds to it and did it. We took a lot of side jobs. Like she said, we sold off a lot of stuff.

I sold my Corvette, a Porsche, a Jeep. Whoa, whoa, whoa, whoa. A Corvette and a Porsche. So you said, you know what? It's worth it. I'm going to sacrifice, get rid of some of these toys, and I can have all the toys later on. Exactly. Wow.

That's a big deal. What did the Porsche and the corvette sell for uh not not as much as you think uh the one they were both fixer uppers and they were just going to be projects and i just never got around to actually doing anything with them okay so they were actually going to be a money drain correct because of the if a project car they you can spend some money on that exactly wow Okay, all of this sacrifice. You're working like crazy. You're selling everything. You're in the wood shop making your own cabinets. All this

sacrifice. You've been busting it for 27 months. Was it worth it? Absolutely. Very much so. And it's hard to get out of that mindset. It was hard to say, hey, we're going to put this money aside just to travel down here for this.

But we knew we wanted to do this the whole time, and so we made it happen. Yeah, when you bust through the end of it, it's like, okay, what now? Because this feels like I just have to slow down. It's kind of weird, isn't it? Yeah, we enjoy watching our savings account go up, our retirement account go up, our 401Ks, our Roth IRAs, everything. And it's kind of hard watching any of it go. Yeah.

But still working hard to get that house finished. Oh, yeah. Yeah, you'll get there. It's going to be amazing. Well done, you guys. Very well done. Excellent, excellent job. So what do you tell people the key to getting out of debt is?

It's track, track, track. Just like you said, but put a name on every single dollar. Just keep track of everything you spend and don't be afraid to ask why. Why do we have to spend this? Do we really need this? Working together, being on the same page. You guys do seem, you can just almost an air of unity. Yeah.

I mean, they are so close together they might fuse into one person just physically right now. I love it. It's such a key. Every time we see a couple like this they're always holding hands hugging there's always a sense of unity that did you did your marriage grow during this journey in 27 months very much so more than i ever thought we uh it not only grew it kind of divided a little bit and uh made a new one oh all right there we go i like it that's good stuff all right so you we go. I like it. That's good stuff. All right, so you brought the kiddos with you to do the debt-free screen. What are their names and ages?

We have Aiden. He's nine. And this is Connor, the new one. He is six months. All right, and that's who we were just discussing. Yeah. Way to go, Connor. You did it, man.

Good job. All right, you can get free from Sherry there. Good. All right, that's fun. Good stuff. Good stuff. We got get free from Sherry there. Good. All right. That's fun. Good stuff. Good stuff. We got a copy of the Legacy Journey for you. That's the next chapter in your story.

You're going to be every Baby Steps Millionaire's before you know it, if you're not already. Well done. Very well done. And a copy of the Total Money Makeover for you to give it away and pay it forward to somebody and get them started. And 27 months later, maybe they'll be standing here. You never know. We would love that. That's how this stuff gets spread so thank you guys so much definitely uh looking

forward to watching um the barn future ah welcome well i'll tell you what we're going to set you up with a uh with a free view of it we're going to do that as part of the package you being here today that'd be perfect we'll take care of that for you her oldest daughter is 17 and she's uh about ready to go to college next year oh wow this Oh, this will scare you straight right here. I'm just saying. Good work, you guys. Excellent, excellent work. All right, it's Adam and Olivia, Aiden and Connor.

$173,000 paid off in 27 months. House and everything. Not even 40 years old. $126,000 to $190,000 income during that time. Count it down. Let's hear a debt-free scream. Three, two, one. We're debt-free!

Go, Connor. Go, Aiden. Go, Aiden. I'm sorry. Go, Aiden. Well done. I think that baby knows he's debt-free. I can see it on his face.

Connor. Connor. I mean, Aiden does the countdown. This is good. I could hear him. He didn't have a microphone, and we could hear him. See, this is how a family tree's changed. Now, he may not remember a lot, but when he's 29, he'll remember that time his parents came and stood on a stage in Nashville and yelled because they'd sacrificed and worked like crazy to change their family tree

and when he's 29 out there walking around he's going to be making completely different decisions because of this yeah the the modeling that you do before your children and involving them in this process is as important as you becoming wealthy in terms of you if you want to change your family tree you can leave an idiot 10 million dollars they'll go through it but if you raise children that aren't idiots and because you modeled before them and you you know they'll win like one guy said the other day i was on the uh every day on the everyday millionaire hour i said what you inherit from your family he said work ethic oh i love that you know the character is more important to pass yeah more more is caught than taught and uh he caught a lot watching his parents sacrifice for 27 months.

Way to go, Aiden. Incredible. Good job, man. Well done, well done, well done. Good stuff. This is The Ramsey Show. Thank you. We'll be right back. Well, we've all been hearing the crazy stats around the great resignation. One study says 55% of Americans are looking for a new job. That's over half of you.

Another report says that one in three workers are looking for more meaningful work. If you're one of those folks looking for a job right now, you know the job market is really competitive. In that sea of talent, passion, and experience, you can stand out if you're clear on what your strengths and purpose are when it comes to your career. Ken Coleman's brand-new book, From Paycheck to Purpose, helps you get a grip on your purpose, and it gives you the proven plan and clear path to doing the work you love.

This year taught a lot of people that you don't have to settle for just a J-O-B. You can make a real impact when you're doing work that you're actually passionate about. Pre-order Ken's book From Paycheck to Purpose today and get over $100 in free bonus items to coach you through your job search process including free resume templates and a free video course with advice to help you nail down a job interview. Get your copy from Paycheck to Purpose today at RamseySolutions.com. We appreciate you guys listening. George Campbell, Ramsey personality, host of the new podcast,

The Fine Print, is my co-host today. Darren is with us in Chicago. Hi, Darren. How are you? Hey us in chicago hi darren how are you hey i'm doing pretty well how are you guys doing better than we deserve what's up i just want to first say just thank you guys for all that you do really appreciate uh you and all your your team there well thank you um so my question is uh so my wife is an interior designer right now and um she's wanting to start her own interior design business in the next few years and i was just wondering if i could get some advice on how i could be um you know just kind of a better encourager to help motivate her

um and just kind of be that support person behind her when sometimes she does kind of have a lack of confidence in her ability to be able to do that. Yeah, absolutely. First of all, I think it's awesome that you are calling in on behalf to want to show that level of support. How serious is she about this business right now? Is it just kind of a dream? It is a dream, but she's

working towards to be able to do that. Right now, she works for a pretty big firm, architecture firm. And so, you know, she's been getting more into reading different materials, getting into Christie's material

and just trying to set herself up whenever she is ready to kind of make that leap. You know, I know you guys always say don't try to kind of get the boat a little bit closer to the dock before kind of making that leap. So she's trying to kind of position herself to kind of start establishing that more and more. Yeah. There's a lot of people that are what we call makers that often make the error because they're good at doing a thing that think they need to do a business of that. They're good at cooking, and so they're a good chef,

so they need to run a restaurant. Cooking is a different skill set than running a restaurant is. They're good at being a web developer, and so they need to open a digital web development company. No, it's a different skill set. They're good at sales, and so they need to be promoted to sales manager. No, it's a different skill set to manage salespeople than to actually be one, and so on. And so you're a good painter, house painter, and so you want to open a house painting business. Well, it's a different skill set to run a business than it is paint houses.

So that's the first area I would encourage her in is not to recognize how good she is at home decorating. I think that's already established. She's probably pretty confident about that. Where her lack of confidence and her fear will come up is wise fear in that she realizes she's getting ready to become an executive in business and doesn't know how. And so now dive into Christy's materials and learn how to run a business. And then when she's learning the different components of business from Entree Leadership, from the business boutique brand, from Christie,

then, you know, you can do any. I couldn't spell digital five years ago. Now the company I run is basically a digital company. And I'm the CEO of a $300 million company. But I sit in the meetings with these digital people. I don't even know what they're saying sometimes. And I own the place. But I don't have meetings with these digital people. I don't even know what they're saying sometimes, and I own the place. But I don't have to have the digital skills.

I do have to have the executive skills to herd the cats towards a common goal and a vision, and setting that and keeping everybody in their lane and listening to the experts and going with learning enough to where I can make a good, solid decision. And so executive skills are gathering up people to do things you don't know how to do and helping everybody go in the right direction. Yeah, part of that is figuring out, is this a hobby? Is this something I can do on the side and I still get joy from that? Versus when you do it full-time, and this happened to me with music.

I tried to go full-time into music and realize, you know what? I'm running a business, and I don't want to be running a business. I got into it because I love making music. And so that's something that she needs to dig into, and maybe she does it on the side for now. And as it grows, she may say, you know what? I do want to be my own boss. I want to take this thing full-time.

And that's when you can come alongside her and support her with anything she needs. Yeah, and, you know, so the encouragement is going to be, you don't know how to do that so what most executives don't they don't know how to do the thing that they run necessarily uh and so the key to running a business is not to be an expert on the thing the key to running a business is being an expert on getting people that are smarter than you in certain areas to all work together in concert. You are the orchestra conductor.

You don't have to play the violin, but you do have to get the violin to come in at the proper time with the oboe. Yeah. And Darren, I... Notice I worked oboe into this. I'm impressed. That was one of those words I didn't know that you'd work in today, Dave. Yeah, I didn't think...

When I got up this morning, I thought, I'm going to work oboe into the first hour of the show today. My bingo card is now full. So, Darren, what I'd love to do is gift your wife a ticket to the Business Boutique live stream. She can tune in from Chicago, and it's happening this weekend. Dave's going to be speaking there, and I think this will give her some real encouragement and really put down on paper what this dream is, what it's going to take to get there, and then at least you know. There's some facts on the ground where you can go, all right, is this something we're going to do? What is the next step I can take? And if it's a confidence thing, Christy is a master at that,

and she's going to have a little bit more, if not a lot more confidence after viewing this event. So we'll have Kelly pick up and make sure that she has access to that live stream, and maybe you watch it with her. That would be a cool thing to do to support her. Christy has a talk on fear that even fear is afraid of i believe that you don't mess with christy she's a beast in the best kind of way pretty incredible speaker pretty incredible communicator so uh yeah if you're worried about fear in the face of what's going on in business you need to tune into business Boutique this weekend.

You don't want to miss her. And I'll be speaking. Dr. John Deloney, several of the Ramsey folks will be there. And the lineup is off the charts cool. But, of course, Christy is the star. So open phones at 888-825-5225. You jump in. We'll talk about your life and your money.

George, it jump in. We'll talk about your life and your money. George, it is interesting. There's something that occurs in the human spirit. And it goes back to starting and running your own business like that. But it also has to do with any area of your life that you don't know something about. You can learn about it. Yeah. Information is accessible. You can, you know, I don't know know i've never been good with money okay you know get a free uh you know get a get a

free trial to ramsey plus and start working your way through financial peace university we'll show you how to it's built for people that didn't know how to handle money it's not built for people with an mba i mean mbas go through it all the time but if you've got a PhD in finance, you're going to be going, well, this is very primitive. Well, yeah, because the stuff that you do doesn't work. So we had to teach people stuff that works. And so, you know, but I mean, I can't tell you when I got married how many marriage books I started reading because I discovered I'm pretty bad at this. I don't know how to do it. And then when I started having kids, I'm like, oh, they didn't come with a manual no instruction when i kept brought them home from the hospital you know

you know nobody to teach me i gotta learn how i mean training a dog you gotta you gotta learn from somebody because i don't you know and so in the point is you can learn almost anything if you want to bad enough yeah and i found that i mean i've got so many books sitting on the shelf that i thought i want to learn about and i found that what I care about is what I invest my time into. And so if you're big into interior designing, you're going to figure out a way to do it. You're going to watch YouTube clips. You're going to read books. You're going to talk to mentors. And you're going to figure out a way to do it. But you have to want it badly enough. You got a fire in your belly. Yep. And then you can learn anything now. I mean, it's accessible. Information is accessible and you don't have to be a genius.

Don't ever say, I'm not good at blank blank. You can say, I choose not to be good at blank blank, but you're not good at it because you chose not to learn more about it. Whatever it is. That puts this hour of the Ramsey Show in the books.

Have a friend or family member that needs a daily dose of Ramsey advice in their life? Let them know about the Ramsey Call of the Day podcast. It's a quick hit of advice about life and money in under 10 minutes. Check out the Ramsey Call of the Day podcast wherever you listen to podcasts.