The Ramsey Show - App - We’re Way Behind on Our Bills (Hour 2)

Episode Date: December 27, 2022

Dave Ramsey & Ken Coleman discuss your questions on money, work, and relationships. 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 in storage studio, 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. We help people build wealth, do work that they love, and create actual amazing relationships. This is a show about you and your life. Ken Coleman, Ramsey Personality, number one best-selling author, host of The Ken Coleman Show, is my co-host today. Cindy starts this hour in Dallas, Texas. Hey, Cindy, how are you?

I'm just fine, thank you. My situation is I am 61 years old. I'm in a job. I've been with this company for 12 years. I want to change jobs. I need to work with people that care about their job, that come to their work and do the work and know what they're expected to do and do it. My endogram that you talked about, I'm a moral perfectionist, Laurel Guardian, and I also did Ken Coleman's assessment. My talent is inspection, instruction, execution. My passion is leading, finishing, analyzing, and my mission is achievement. I want to change jobs, but my friends and family are telling me I should not. Because of my age, I need to stay put because it's going to be hard for me to find a job. And I have applied for a job and I don't even get an interview now when I used to get lots of interviews. I mean, I have stellar work history

and I've just been stuck. I don't know what to do. Okay. So before we get into the applying process and what frustrating results you're dealing with there, I'm just curious. I heard some things on you that I've heard before, and I'm just curious what you would say is the number one and maybe two reasons why you want to leave this company. Give me the quick version. Okay. Because the people, they don't come to work. It's an office. It's a professional business.

I mean, they call in. I mean, they don't want to work. I mean, they sleep at their desk. All right, let me ask you this. I'm a worker. I know. I can tell. Are you leading those people, or are these coworkers?

Well, they were coworkers, but our manager left. They moved me into the management position, and I asked to be moved back because I just couldn't. I mean, I want people to know what their job is, do their job, be able to do their job, be capable of doing their job, and then do your job. I get it. So I'm back and I'm not in management anymore. Got it. Okay. Now let's remove that frustration from our conversation just for a moment. Let's just put it over to the side.

Do you love what you're doing? Do you like what you're doing? Forget the frustration. I love my work and I love our clients. All right. So a couple of things I want you to consider. I'm not in any way telling you not to look elsewhere. However, your Enneagram that you shared with us is really at the source. Your wiring is at the source of your frustration,

that moralist. And what's happened, I know, I know, and I get it. And I want to try to set you free from it because you had the opportunity to do something about it when you were in management, but you walked away from it, not getting on you about it, not judging you. But you had, as a manager, theoretically, if you had support above you, to fire and get rid of some of those people or to mentor them and see what motivates them. You had your chance there. But now that you're back, if you want to stay where you are

because you love the work and you're 61 and you're having a hard time looking out and seeing other opportunities, you've got to get to the point where you are because you love the work and you're 61 and you're having a hard time looking out you know and seeing other opportunities you've got to get to the point where you go I'm responsible for my work and I am their co-worker not their mom I am their co-worker not their aunt I am their co-worker not their leader and you've got to decide because what I'm hearing here not judge jury and execution that's right it's not your call and so the source of all of your tension and frustration is you looking at everybody else sloughing off slacking i get it i get it i get the frustration it affects it affects my work

only okay all right that was my next question how much is it affecting your ability to do your job now this is the question not how much is it affecting your ability to focus on your job because i think you're focused on them and giving them too much power but how much is it affecting your ability see that's what the giggle is how much is it affecting your ability to actually actually execute on your work? 5%, 10%? Maybe 10%. I don't know. It's just when there's errors made, I'm the one that has to deal with our customers. Okay. Have you taken this to your leader to say, hey, I'm crushing it, but I'm having to deal with it? They're afraid. They don't want to lose anybody because we've already had a lot of people leave. And that's what's going on because we've already had a lot of people leave

and that's what's going on right now we have a lot of leaders right now that are afraid to fire anybody because of this big gap we have those aren't leaders those are wusses that's exactly right you can't control that so what you have to decide here is wait a second what what is best for me cindy because if i love my work can i at the age of 61 with a lot of maturity and a lot of work ethic can i allow this stuff to bounce off of me or is it no longer tenable i can't do this any longer that's what i really want to know i think you go get a new job i think so too but i also go so walk her through walk her through the application all right well i wanted to challenge you because i i don't think it's as bad as you're making it out to be. But here's the thing. If you've got to get noticed in today's world, it's not by applying online.

Because even small businesses are using softwares and they're weeding people out. You're 61, which means you have at least four decades of relationships and connections. And you have got to shake the tree. You've got to get out there and go, hey, I'm looking to move on. Here's specifically what I'm looking to move on. Here's specifically what I'm looking for. And it is relationships that will get you in the door because they go, let me tell you about Cindy. Cindy's amazing. But if you just apply and some people may see your age, they may not, but you may not even get your resume looked at. So this is all

about the proximity principle. I wrote a book that details this in great detail. I'll give it to you. We'll give it to you when we put you on hold. But this is about you leveraging your relationship capital. Do you understand what I'm saying? Yes. Yeah, I think you have a distinct marketplace advantage because you actually know how to work. And you're mature.

No question. No, you actually know how to work. Yeah. I mean, we've got a whole group of people out there that honestly, somebody just needs to set their butt on fire. I mean, really, seriously. Just freaking lazy. Quiet quitting will get you nothing.

I'm telling you, man. If you aim at mediocrity and you think playing Call of Duty four hours a day while you're supposed to be doing work from home is a good idea, you're going to be nothing in your life, and you're going to deserve every bit of that. So, you know, if you have the ability to light yourself on fire, to get up, leave the cave, kill something, drag it home, you want to be somebody. You want to be great. You want some greatness in your life.

You want to throw your shoulders back and howl at the moon and cause some stuff to happen like Cindy does. You are an absolute rock star in America today. That's right. I mean, if you actually, what she's saying is the bar is so freaking low, if you show up at work and work while you're at work, you stand out. I mean, that's how easy it is out there right now in the land of stupid. Just show up at work and work while you're at work. Aim at some greatness.

Be somebody. Cindy, I think you need to get a new job. I think you work with doofuses. Hold on. We're going to send you a copy of Ken's book, Proximity Principle, so you can find some good people to work with. Ken Coleman Ramsey personality is our co-host today my co-host the phone number here is 888-825-5225 Jason Jason's in Boston. Hi, Jason. Welcome to the Ramsey Show.

Hi, Dave. Hi, Ken. How are you folks? Better than we deserve, sir. How can we help? Thank you. So my wife, she just downloaded the app. She's actually listening at home.

So you're, in a sense, talking to both of us at the same time, which is good. Cool. So we just decided that we are going to start the baby steps. And with some unfortunate mishaps, we've fallen behind in some of our builds. And we don't have a $1,000 emergency fund yet. So where do we start? What do we do? Wow.

So what happened? Well, so my wife is a breast cancer survivor, and our oldest son who helps contribute to the house just lost his job, and my hours were cut just a little bit. So we've got just a big financial mess, and mixed that in with some poor spending habits and here we are yeah okay well um there's certainly we're going to put you guys into financial peace university to help you turn this around showing you how to handle money and how to do a budget and everything but it sounds

to me like at the core you've got a an income crisis more than anything i'll let ken address that in just a second as far as the baby steps go your first goal before you start the baby steps is get current that may mean selling stuff it may mean having a garage sale it may mean taking extra jobs 16 of them uh it may mean selling so much stuff the kids think they're next uh that kind of thing okay so i'm talking radical because you got to get current fast because this is such a tenuous scary place to live your wife dealing with medical problems and now dealing with we can't even stay current on the light bill it's terrorizing her and i want i want you guys all to get off but i don't't need it, but I'm saying for your sake,

I've been where you are, not on the cancer part, but on the broke part, and it just scares the crap out of you. And to get away from that level of terror and fear is your first order of business. So getting current on a budget is first, then start the baby steps, and doing anything you can in the short term to get your income up and then the long term to get your income up is next ken yeah jason i'm curious what do you do for a living now i i work for uh fedex okay and so when you say you had your hours cut how much um so they they cut me down like like a day or two over the last couple of weeks,

but that's going to be getting back up as we continue towards the end of the summer here. What are you making over the course of the last couple of years? What do you make? I'm right around between $70,000 and $75,000. What are you doing? Driving or loading? Driving. Yeah. Okay.

What's the long-term for you? Have you thought about it? What would it look like up the ladder a couple of rungs doing what kind of work? I actually enjoy what I'm doing. And, you know, I, yeah. What are you going to do on these off days to create extra income then that's more than you're making now uh so in the even right now i'm i'm door dashing and driving for lift okay good good yeah i think that's good i would challenge you though because of your uh ability

and what you've done with fedex that's a nice little credible brand there i think i'd be looking for better delivery jobs uh for at least months, even if you're packing in some crazy hours, maybe driving for one of the large soda companies. They tend to have better hourly rates instead of you doing DoorDash. I think you can make more money in the driving game. You can get some part-time jobs because right now in the delivery game period, like so take all the trucking companies. You might even be able to drive a smaller size truck. They are desperate right now. We've got a big shortage of workers, Dave, in the supply chain world.

So if you like driving, I'd kick the tires is what I'm saying, Jason. No pun intended. Yeah, there it is. I stepped right into it. But I do think you can make more money driving than doordash and uber or lyft yeah i mean you got a cdl probably and so yeah you could probably step into some local delivery stuff uh you know some short-term 18-wheeler stuff or whatever be north of 20 25 an hour versus lyft and that's my point he could make more buck for his for his time there and anything uh i i

just i want you working so many hours that your teenager is not in the mix for carrying the family weight uh that uh because you you are going to make so much more than he is yeah uh unless he's unless he's doing an app that makes two million dollars a year or something but short of that you're gonna you're gonna outperform out earn your teenager and you should uh so yeah and as much as your wife's health allows um uh same thing because here's the deal ten thousand dollars extra over the next two months changes your life not only do you get current you put a thousand dollars in the bank and you start working your way out of debt i mean you're ten,000 away from a lot of peace, a lot more peace than you have today.

And so what I'm going to do is I'm going to go get a lot of work and get $10,000. How fast can I gather up $10,000? I'm making that number up. I don't know how far behind he is, but I mean, that's probably going to cover it. Well, I think it's a good example, Dave, because I think there's a lot of people listening and watching. I want to encourage you right now. Dave's not just throwing this motivational speech out. $10,000 is very doable in today's economy. We are looking at

right now a 3.6% unemployment rate. What does that mean to you out there who need extra money to get that shovel bigger to get out of debt, or in this case, just to get started? It actually means looking out there and seeing there is such high demand. And you take this area, the Boston, Massachusetts area, big metropolitan area, you would be surprised how desperate employers are to get somebody they can count on. And the money is way better than it has ever been. It's a white-hot opportunity for part-time income. Yeah, for $20 to $30 an hour stuff. Yes, sir.

Absolutely. That we never dreamed. That pre-COVID you would have never made $10 doing. Yeah, not even close. Yeah. And that's real. Real. you would have never made $10 doing it. Yeah, not even close. Yeah. And that's real. Real. Well, to give you an idea, take Walmart, national company, okay,

just so you all have some real numbers here. They're starting warehouse workers or people that are stocking shelves and off hours. If you want to hustle and get after it, you can be in the $20 to $25 an hour just doing that kind of work. Yes, you're exhausted and you're tired, but, again, what would it take to get to $10,000 in two months? I'm trying to get current and get my back away from the wall, get the wolf away from

the door. I want to put a bullet between the wolf's eyes. I want him to go away. And the wolf at the door, it's a scary thing, man. I mean, I've had my lights cut off, my water cut off. And with little babies in the house that's what happened to us when we went broke 30 years ago and it scares you at places you didn't even know you had and it makes you i mean you stand in the shower and cry because you don't

know what to do you're so overwhelmed and you don't have to boil the ocean here you just got to go get some quick money anyway it that's moral and legal. Fast. Go get you some money fast. And then you can back down and reassess your overall career goals. That's correct. And other stuff and start to maximize your time and think, where do I want to be in 10 years? Do I still want to be doing this in 10 years? Is this company stable?

Are they going to continue at this level? You can ask all those questions. But right now, go get some money. That's a great point. You can't make good long-term decisions when your head's on fire because of the financial stress. Get short-term stability, and then we start to plan financial wellness and growing, building wealth like our live events we're doing. So hang on, and Austin will pick up, and we will get you a copy of, or we'll get you signed up for a one-year membership to financial peace university and that'll plug you into every dollar the budgeting app and you and your wife commit to doing those lessons together there's nine videos almost 10 million people have been

through this course and if you will do what we teach you to do in there while you go get some money it'll change your whole life and uh and then you can call up and tell the lie and say dave you changed my life because i won't have changed your life you will have changed it you're gonna go get this but you're in a perfect place uh because jason because you're in that i'm sick and tired of being sick and tired place i i hit bottom man i said never again never never again when you say that when you yell that at the mirror that's when you're ready to change your life this is not an intellectual discussion this is a transformational eventect doesn't cause transformation. Emotion does. Viscerally, down inside, howling at the moon. Never again will my family be in this place. When you say that,

then never again your family will be in this place because you're going to go do what it takes to get her done, baby. And you're that kind of guy. That's why we're going to give it to you. And you call us back and tell us how it's going. This is The Ramsey personality, host of the Ken Coleman Show, is my co-host today in the lobby of Ramsey Solutions on the debt-free stage. Colin is with us. Hey, Colin, how are you? I'm better than I deserve, Dave. How about you?

Just the same, sir. I've heard that before. Very cool. Where do you live? I live in Amarillo, Texas. Oh, fun. Welcome to Nashville. And how much debt have you paid off? I paid off $81,756 in two and a half years. Way to go. And your range of income during that two and a half years? I started off at $45,000 and I ended at $102,000. Okay. Wow. Very cool. So what do you do for a living? I'm a medical device sales rep. Oh, you're doing well. Yes, sir. Good for you. Good job. All right. And $82,000 was what kind of debt? So that was all student loans. Whoa. Yes, sir.

Sally Mae did have her own place with you wow yes sir how long you been out of school so i've been out of school for three years okay so you get out of school and you say got to get rid of sally may absolutely um i just remember living in dallas um i was a former collegiate athlete graduated with my master's degree living you know just a young professional perfect world um um just entering into that workplace and i just remember sitting down after that six months grace period and really you know totaling up the amount and i just have an oh crap i believe it i kind of believe it oh crap yeah oh crap moment oh my gosh wow so then then what did you do when you said i don't know what

you know this is crazy what was your next step how'd you find us how'd you get on the ramsey way so um honestly i was just on youtube one day and you know i just found one of your videos it was somebody who paid like a hundred thousand dollars off in three years and i was like wow like if they could do it then I could do it so um that was like the biggest thing for me is just you know you started like January of 20? Yes sir. In like three months after you start you get the pandemic? Yes sir. What did that do to your plan? So the pandemic was honestly one of the best things that happened to me because I started working from home in Dallas and um I basically started applying for the dream company that I work for right now,

and I switched jobs, and that's when I began doing medical device sales. It was just something that I prayed on for a long time. I've always been passionate about what I do, after football it was just I felt I felt like I didn't have a purpose and who'd you play ball for I played ball for West Texas A&M okay yes sir and then just kept praying on it praying on it I wanted a career that you know I was passionate about and it and it led me there after applying there 56 times I finally got the job there wow you know what I just was able to double my income and uh once again like i wake up every single day and i love my job i love

the people you're gonna be good at sales you don't get turned away easily absolutely yeah no doesn't even register for you emotionally no sir no sir and i'm i'm not having fun with that i'm i'm telling you like, you have an unbelievable focus, and I'm just curious how much your athletic, because I want people who are not athletes to get what's going on here. How did that play into your ability to not be deterred as it related to getting the job after 56 times? Yes, sir.

And then also just buckling down and paying off an enormous amount of debt in a small amount of time. Talk about that. What did you harness? Absolutely. I mean, I just think there's so much benefits to being an athlete. I tell this to all of my college buddies, you know, because after you're done with your career, I mean, it does leave you feeling empty. And a lot of the times we're so passionate about what we do. It's so important to find a career that fulfills you in a different way. And for me, I found that with my work. And it just gave me the ability to never take no for an answer, like you said,

and just always strive every single day to be better. And I'm in a career that, you know just always strive every single day to be better and I'm in a career that you know challenged me every single day and I love to I love to work with the people that I'm around. Do you see your sales results as a scoreboard? Absolutely I mean every single day and I'm part of a great team um a team of three guys that um one of them was a former collegiate athlete at my school as well so this knocking out this 82 was just you had another goal to hit yeah absolutely that's right yeah i'm out what do you what do you tell people the key to getting out of debt is when they say you paid off her here you paid off 82 000 in two and a half years i think the key to getting out of debt is just

um just coming to realization that it's not going to go away. And at the end of the day, um, to just be disciplined and, you know, you want to break that family tree and you want to, you know, you want to be financial, uh, financially free and you want to live the life 15, 20 years down the line. But, you know, I think the biggest thing is like sacrifice now. And a lot of the times when I tell people my story, the two words I love to use is delay gratification. I understood that I had to sacrifice now for the life that I want to live 15, 20 years down the line. And it's just so difficult. It's just not normal for people my age to do that

nowadays so um i just really wanted to grab the horn grab those horns and you know just attack it by the way it's never been normal for people of any age there's not there's not been a generation that had this down yeah but but that everybody in that generation did it right but uh wow that's very powerful good for for you, man. Well done, well done. How does it feel to be free? It feels amazing. I still remember I wrote my last check.

It was $6,500, and I actually drove home to El Paso to celebrate with my family and hit that last click and record it and everything like that. I kind of got teary-eyed when I did it just because it was just such a journey and there were so many sacrifices that came with it. I'm 26 years old. And 100% free. Way to go, dude. That's the biggest win of your life.

I'm so proud of you. That's why you got emotional. Yeah, touchdown. I mean, what was one of the most disciplined things or maybe the hard things you did to sacrifice as a young single guy coming out of school hey what would you what were you doing i mean the biggest thing is like um not being able to eat out um you know not always being able to go to social events and if i did you know i would just kind of sit there and you know i want to eat i want to drink

and uh just stay in focus and uh also a part of that too is um i had a second job at one point and i think that was one of the lower points of my life um but i understood that you know once again like it was for a short short term yeah oh way to go man what a proud of you well done colin beautiful beautiful story very cool yeah hey we've got the Live and Give Bundle for you. That's the total money makeover book for you to give to somebody and encourage them like you have been. The Baby Steps Millionaire book, which you are on your way to that one for sure. And, of course, the Financial Peace University membership for a year. We'll give you all of those.

Use them yourself. Give them away, whatever you need to do. That Live and Give Bundle. So very, very well done colin beautiful job sir i love it i love it all right colin from amarillo texas 82 000 in two and a half years making 45 to 102 count it down 26 years old he free. Let's hear a debt-free scream. Three, two, one. I'm debt-free.

Yeah! Woo! Woo! It did not occur to Colin that he didn't owe the money and that someone else should pay off his debt like washington it did not occur to him to sit and wait on president biden to pay off his debts it did not occur to him because he is a stud that's right he gets stuff done it did not occur to him that anything should be done except this is one more goal in my life that needs to be knocked down yeah it's what occurred to him

yeah and so uh this is the difference and you know the interesting thing about all of those things those are not things that are um external virtues they are things that you can just decide you're going to have today. I'm going to be a man. I'm going to be a woman of purpose. I'm going to be a man. I'm going to be a woman of dignity. I'm going to be a man. I'm going to be a woman that's not waiting on a government handout to make my life good.

I'm going to be a man, a woman that takes life by the throat. By God. Set your butt on fire, people. Go be somebody. Line up for greatness. Don't sit around and try to figure out a way to quiet quit. Because if you work here, I'll quiet fire your butt. This is unbelievable, man.

That's not true. It'll be pretty loud. Time to get it done. There won't be nothing quiet about it. Nothing quiet about it. Don't let the door hit you in the butt. Don't be lazy. I got stuff to do. There's too many people need need help for you sit around on your dadgum assumptions we got stuff to do man this is the ramsey show We'll be right back. Ken Coleman, Ramsey personality, is my co-host today.

Open phones at 888-825-5225. Our question of the day comes from Blinds.com. Blinds.com's 100% satisfaction guarantee means even if you mismeasure or you pick the wrong color, they'll remake your blinds for free. You get free samples, free shipping, and with the new promos they run every month, you'll save even more. Use the promo code RAMSEY to get the best deal. Today's question comes from Selah in Colorado.

How do I write a resignation letter? I want to keep it professional, but companies need to be called out on there so they can do better in the future. I love when Dave steps in with the sound effect. You can just fill that in with your imagination. Okay, so let's just stick to the first part of the question. How do I write a resignation letter? I want to keep it professional.

Well, then keep it professional. You know, the resignation letter to me is less important than the way you handle yourself when you go in and talk to your leader. And, you know, the advice I give to callers on the Ken Coleman Show as well as the Ramsey Show is leave the way you would want to be left. Put yourself in the other person's shoes, even if it's not a great environment, even if you feel wronged or whatever. The reality is it never does you any favors by burning the bridge or blowing the bridge up, which we're seeing a lot of young people do on TikTok. For heaven's sakes, just leave with class. It's going to follow you when you least expect it if you don't. So on the resignation letter, I don't have three points, and here's how to do it. It's very simple. Be

professional and keep it short and sweet, and you can turn it in when you look at your leader in the eye. Thank you for the opportunity. Please accept my two-week notice. That's it. Keep it simple. Gratitude, clarity, and move on. Let me just tell you. Selah, if they cared what you thought about them, they would have already asked you.

They don't care. Yeah. For whatever reason. Because they're dumb or because you're belligerent i don't know which right but they don't care what you think so you telling them to get their blankety blank blank stuff in order is going to do zero good that's correct because they don't care what you think period that's right okay i i you know i probably fall in that category well i think most every if you're if you know i quit doing exit interviews now our hr team does exit interviews

because they want to try to find out why you're leaving i'm not leaving i'll be here yeah so i don't you know see you i i love you but i'm gonna keep going you're not yeah and that's pretty well the end of it. That's right. And, you know, I don't need you throwing grenades back in here at me as you leave. It does nothing except make me remember you that way. That's right. And the probability or the percentage chance of you telling them what you think about what they need to change.

Oh, I never thought of that. I'm so glad you told me. I'm so thankful it's never gonna happen so just just just leave yeah leave well keep it simple and you've stayed too long if you feel that way if you're willing to say companies need to be called out on their blank that is absolutely you've stayed too long yeah you needed to you need to either call them out on their blank and stay and help fix their blank, you know, or you're part of the problem now, and you've become part of the problem.

So, yeah, you do need to get out of there. Just keep it brief, sweet, and say, see ya, wouldn't want to be ya, and move on, you know. And then you can smile later when you calm down, and you're going to go, well, they probably weren't as stupid as i thought they were and so on you know yeah you know it always cracks me up day when people want to take a parting shot at somebody and if it's so bad that you want to leave then why aren't you happy you're leaving you should be bubbly you should walk in and go hey i'm leaving today you know it's like what are we doing the problem is social media has raised a whole generation of activists and everybody thinks they're a freaking activist.

Right. You're not an activist. You're just a former employee. There's a difference. I mean, seriously, that's just your category. You're just a former employee. That's all you are. And nobody really gives a crap what you think.

They really don't. That's correct. You and the three people that sit around and drink coffee with you and whine about stuff from four years ago, you're the only ones that care. You know? And so some of you people do this stuff, and we've had it happen to us here. We've had it happen. You know, I've got friends that run companies and people that do stuff, and, you know, they've never erected a statue to a critic.

That's true. Just never been done. So except that one to Roger E e roger ebert but um anyway cisco and ebert remember that oh sure actually has a statue oh he does i thought you were kidding no that's i actually said that from stage one time there's a famous saying uh like mark twain or somebody said yeah i've never been a statue that's correct critic somebody sent me a of course they did a picture of roger roger ebert's statue good for him yeah that's good well i mean you gotta have something to do yeah open phones at 888-825-5225 jessica is in fort worth texas hey jessica how

are you i am so good and i'm honored to talk to both of you you too i was at the smart conference and you were both so inspiring ken you really spoke to me and thank you so much for what you do. Thank you guys. Thank you. How can we help? All right. So I've got an MD, which I think stands for money dummy. Good. I got to laugh. We were doing pretty good. My husband and I, we were working our way through the baby steps, made it to step four, five, and six. And then a few months ago, we were looking to move into a different home. We bought a few months ago, we were looking to move into a different home. We bought a home that we thought was going to be everything we wanted. It was in a great neighborhood. We knew we were going to put some money into fixing it up and we felt okay with that. Then here comes the mistake. And actually we bought it for $597,000. It appraised

for $655,000. So we were like, we're doing great. And then we realized that the things we wanted to do to this house to make it into what we wanted, it was going to cost way too much money. And it was a mistake. It was a mistake. And we relisted the house for what we paid for it, knowing we were going to take a loss. We got no offers at all. We left it up for about almost two months. And then we pulled it and said okay new plan we're going to have to fix this thing up and either rent it out or sell it we're in that position right now and I had been thinking the right thing to do is to rent it out but now I'm thinking we're in too deep and I think I want to get rid of it

you need to sell it it's not a a rental. It's a mistake. There's a difference. Yeah, it's a big, can I tell you some numbers though? Cause it didn't see if this changes anything, right? We following your method and your, your, uh, guidelines for how much we could buy. We figured we could afford, um, easily $850,000 house. Um, this house is so far under budget that between that house and the one we currently live in, which we owe $265,000 on, we're still way under that. And so that was kind of the motivation. Like, well, you know, we could still pay these both off in less than five years.

Maybe we should just stick it out and get it done and then have it generate income. I wouldn't sell it for $100,000 under less than what you paid for it, but I would sell it. Okay. I'm not what you paid for it, but I would sell it. Okay. I'm not suggesting you give it away, but I think you need. Look, five years from today, you're not going to be happy you own this house. It's not what you bought it for.

It's not what I would have bought as a rental. It's not what you bought it for. It's not why you bought it. It's not your plan. It's a burden. And really, every time you come around it, it reminds you of a mistake rather than a than a positive thing yes yeah i bought stuff that i had payments on in the past every time i

wrote a check for it it reminded me i was stupid and i didn't like that i have enough reminders of that we uh we paid off 433 000 of mostly student loan debt about two years ago. Wow, good for you. So we've got enough reminders of that for a lifetime. Well, good for you. You cleaned up a lot of stuff. And I don't think there's any reason to panic here. And so I'm going to put it on the market, make sure it's shiny and as shiny as it can be to get it sold,

and put it at a reasonable price and expect with these higher interest rates in the market slowing down for it to take longer than it would have taken a year ago or two years ago for sure but just uh give you give yourself some patience breathe put it on the market and let's have the plan of getting rid of it because you don't want to still be owning it later no and i want to encourage you jessica we i had dinner we had a vip dinner of friday night before our Smart Conference last Saturday, and I got to sit with a couple of our Ramsey-trusted real estate stars in the Fort Worth, Dallas area, and they told me, both of them, they said the housing market is still strong. The difference is you're going to have to paint it. You're going to have to do some things that

we used to do. You're not going to have 40 people lining up to take it as is. So do what you got to do. You're going to be able to sell this house house and you're going to be fine. Yeah. Just normal process of selling. Yeah. Make sure it's shiny. Yeah. It's in good shape. It's going to take a few more months. And it's priced properly. Yeah. It's going to take 90 to 120 days and just get with one of our real estate ELPs and they'll help you do every bit of that. Price it properly, stage it, everything. So, hey, you're going to be okay. I've been there myself. I don't think you're nearly as dumb as you're giving yourself credit for. I think you just made a mistake. This is The Ramsey Show.

Hey, folks, Ken Coleman here. Did you know The Ramsey Show is one of the most popular podcasts in the world? It's your daily dose of advice on life and money. Check out all of our shows from The Ramsey Network wherever you listen to podcasts.