The Ramsey Show - App - What’s the Best Way To Pay for College? (Hour 3)

Episode Date: October 3, 2022

Dave Ramsey & Kristina Ellis discuss: Dealing with a messy divorce situation, Paying for college, What to do with death benefits, Living in your car. 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

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Better than we deserve, sir. What's up in your world? So I got a divorce about a year ago, and I have full custody of my children. And according to the courts, my ex owes me just under $70,000. And it became obvious I was never going to see a dime of it. So I kind of gave up on that. But I really needed the money. I was a few days away from missing a house payment. And my parents figured out what was going on. And they bailed me out. And I'm beyond grateful. I'm doing way better than I deserve. And I have a paid for home now as a result of it. And right now, though, the thing that the question is that she's not going to sign the quitclaim deed.

And I just don't want to stir up any problems. Oh, too late. I just want to keep the peace. Too late. You can't keep the peace. I want to move on. Wait a minute. She has a court order.

She has a court order. Yeah. She's going to sign the quitclaim deed. She's got about 20 seconds. Ready has a court order. She has a court order. Yeah. She's going to sign a quick claim, dude. She's got about 20 seconds. Ready, set, go. This is ridiculous. It's ridiculous. Let me just tell you.

Let me tell you. Your wife, your ex-wife, is not very smart. She does not want to be in contempt of court. They put people in jail for that crap. Yeah. So here's what we're going to do. You have your attorney, call her old attorney, and tell him, you have five minutes to get this signed, or we're going to file with the judge, and the judge is going to put her in jail for contempt of court after he tells her to sign it. If she doesn't

sign it instantly, judges don't screw around with this stuff. They're kind of bossy. That's why they call them judges. The thing that I'm kind of worried about is that she's kind of a high conflict, and I just don't want to put the kids in the middle of a high conflict. Your kids aren't in the middle of it. Kids ain't got nothing to do with it. Chick needs to sign one piece of paper that the court told her she had to sign. It's not high conflict.

This is high stupid. Yeah. Your kids aren't in the middle of nothing just just she just needs to be smacked into next week metaphorically speaking also you said you have full custody what does that relationship look like with your kids and her uh i i try to make sure that she gets her visitation so she has you know supervised visits and stuff like that but that's fine um yeah that doesn't even enter into it you're you're abiding by the court order on the visitation aren't you yeah and she has missed two of three on the i mean she's missed the other two number one 70 grand no show number two sign the quick claim deed gonna show baby you owe your parents this you're scared of her aren't you a little bit i can't blame you really because i think this one is a test pilot for a broom factory man well and as a parent i do i do feel the empathy of wanting to protect your kids but i think it's fortunate the kids this has got there he don't want to deal with her she is way too much trouble

to deal with and that's why she's the x that's why they call them x's yeah but dude you got to get your house this is not going to go well You think it's going to get better by not dealing with it? It's going to get worse. Conflict delayed is conflict amplified, Dr. John Deloney says. Yeah. It's going to get bigger, isn't it? It's a splinter under the skin. It's going to fester, and then you're going to have to have your hand cut off because you're gangrene.

You've got to deal with it. You've got to deal with it. It's an ouchie, but you've got to deal with it. Well, and I think this is actually a way to protect your kids i think that dealing with this is going to actually give you a little bit more control over this relationship versus dragging it out for years like this needs to be cut off this needs to be done but here's the thing it's not getting to do with your kids kids aren't even in the equation i'm not going to talk about kids about it it's not kid stuff it's adult stuff you just be sweet to the kids and you be sweet to them when you

drop her off you don't run her down to the kids even if she is a twerp you're still not going to run her down the kids you just speak highly of their mom and you just be a good man a man of nobility who enforces the law and the law is the law said the judge said with the hammer on the gavel sign the quit claim deed have your attorney contact her attorney today dude do not put this off you have got to deal with this it's going to get worse it's not going to get better this is the Ramsey Show One of the most common pieces of advice I give folks trying to get out of debt is to sell the car. And I get it. That's easier said than done. Selling a car takes a lot of time and hassle unless you use CarWiser.

CarWiser is a free service that gets you the best offers instantly from dealers around the country. And it couldn't be simpler. Just enter your vehicle's information and boom, you've got offers to choose from. So go to carwiser.com slash Ramsey. That's carwiser.com slash Ramsey. Christina Ellis, number one best-selling author, and my co-host this hour, Ramsey Personality, joining us. Joining us, one of our good friends, Ambassador or Governor or Ambassador or Governor Nikki Haley is with us. Got a brand new book out. Hey, Ambassador, how are you?

I'm great. How are you? Better than I deserve. I always hesitate whether to call you Nikki or not. It feels like breaking protocol. It's Nikki. Those are moments in time, so it's just Nikki. Well, you've been on here three or four times with us, so we feel like we're old friends, and we love you.

We appreciate you. Yes, we are. The brand new book, last time you were over here, you told us this was coming. If you want something done, yeah, get a lady to do it. Leadership Lessons from Bold Women. What a great book. Oh, the back of it says Ask a Woman. Oh, Margaret Thatcher.

If you want something done, dot, dot, dot, on the back of the rest of the title. Love it. See the design now. Ask a Woman. Good. So it's based off of the Thatcher quote that was, if you want something said, ask a man. if you want something said, ask a man. If you want something done, ask a woman.

And I am a huge Margaret Thatcher fan and, you know, have always loved the fact that she believed in Britain. But more importantly, she believed in herself. And, you know, as I went to the United Nations, I learned a lot about Jean Kirkpatrick, who was my predecessor, who was unapologetic about, you know, when it came to America and just loved her country. And she wasn't a politician by any means, but she found her strength, you know, and then went on. And I met people like Nadia Murad, who lived in Iraq. Her family was killed by ISIS. She was taken and gang raped and, you know, trafficked. And she came out of it stronger and actually helped hold her ISIS, you know, abusers accountable and, you know, basically made the entire world hold them accountable and really hold them at fault and help the Yazidi community. Or, you's just cindy warm beer who i met and she was the mother of otto warm beer who was

tortured by north korea and the idea that she could take that unthinkable pain and make sure she put the fight back to north korea so it's just these are ordinary women who became extraordinary wilma rudolph is in there right wilma rudolph she's a good tennessee that's a good tennessee story i had her on the show when she was alive she was a force of nature i mean think about the idea wilma rudolph had polio wore a brace until she was 12 years old and in eighth grade decided to run when they thought she would never be able to walk and here she's the first female to win three gold medals in an olympics for track it's remarkable you know the one with rudolph boulevard downtown nashville yeah she was from clarksville yeah

she was she was a force of nature i mean amazing just her presence in the studio but that's powerful very cool did you get to meet Wilma no I wish I could have but I just loved her story I thought it was just amazing and so these are stories you know when I look back I think parents know that strong girls become strong women and strong women become strong leaders. And what I hope is that parents will go out and, you know, get this book for their girls and let them know they deserve to be in the room. I hope this is motivation for young professional women that are growing through the ranks. I hope this is used as a thank you for mentors and leaders who have helped women along the way. And I hope that this is a reminder that our world is better because we have

women in it. I think men will enjoy reading this book too, but I think more than anything, I want it to be a reminder to women that, you know, nothing comes easy, but when you work hard, you can really make a difference in the world. I love that. As a mother of a young daughter, that just makes me so excited to read it. And it comes out tomorrow, October 4th. Tell us a little bit more about what people can read in the book and just what they're going to get away from it. So, you know, it'll highlight people that you've heard of, like the, you know, Margaret Thatcher or Golda Meir, who was an amazing problem solver. And to hear all that she did for Israel and the different twists and turns that

went along the way and she never gave up to people who you may not have heard of like Claudette Colvin which you know everyone knows that Rosa Parks was the woman in Alabama who refused to get up from the bus but what they don't know is actually she wasn't the first one. Nine months earlier, Claudette Colvin had been studying the Constitution in her school. And at 15 years old, she sat in the bus and refused to get up. She was literally the first one that was taken, arrested, ridiculed, known as the girl that was arrested in Montgomery. And because she was young, they thought she was emotional and feisty. They thought she didn't look the part. So they waited nine months, got Rosa Parks, who was a member of the NAACP,

someone who was more mature, someone who they felt like was more disciplined, and they used her as the person that did it. But think about a 15-year-old girl having the courage and strength to do that first. So it's stories like that that are just remarkable. It's straight-up swagger. I mean, that's incredible. Very, very powerful. The book is If You Want Something Done, Ask a Woman.

Ambassador Nikki Haley is our guest this segment. She is the author of this. She is a New York best-selling author with the first book with all due respect um which is what people say right before they disrespect you it's the southern way of kicking you with a smile yeah bless your heart which can mean i'm going to slit your throat yeah so you've written about all these inspiring women but do you have someone who's the most inspiring woman for you personally? Well, you know, I think I've always loved to see

the success of other women. And, you know, if you go to the story, I do a story about Amelia Earhart as well. And, you know, many people think of her as, you know, the female pilot who basically got lost trying to fly around the world, but that's not what her story was about. Her story was very much about the fact that she loved to see women successful. And female pilots back then weren't allowed to fly alone. They had to have a male counterpart with them when they flew. And she started this team called the 99s, which were 99 female pilots that just wanted to be able to fly alone.

And she cheered them on. And so, you know, I now I have so many that I think are inspirational. Of course, my mom will always be my first inspiration. And she, you know, grew up in India and was a lawyer and became one of the first female judges. But because of the times in India, she was never able to sit on the bench. So the idea that she couldn't do it, but that she raised a daughter who became the first female minority governor in the country shows that strong women breed strong women and, you know, and allowed me to learn from her. And then, you know, you look at Margaret Thatcher and the idea that, you know, she took on, you know, a time where socialism was the norm in Britain, you know, government was continuing to rule. And she basically erased 40 years of socialism in 10 years by making sure she

privatized government industries like steel and air. and she made sure that she cut taxes, and she showed that when you have more money in your pockets, that's how you get the economy to turn. And, you know, she got a tremendous amount of pressure to reverse that, and a tremendous amount of pressure that she was going the wrong way, and she never let the heat get to her. She stayed true to who she was and ended up being a celebrated leader. Yeah, one of the most powerful ever in Britain, really. I mean, Churchill-esque in so many ways. The social movement that she caused was really a revolution. And if you don't believe me, visit some of the mines in Scotland.

They'll tell you. Some of them still don't like her. You know, when she was called the Iron Lady and interestingly enough the soviets gave her that name and they gave her that name as a joke um but she wore it as a badge of pride and you know as a badge of honor and and became the iron lady and what was a very respectable term after that ambassador nikki haley our guest this segment again Again, the book is If You Want Something Done, Ask a Woman. It comes out tomorrow. It has a pretty recognizable bright green cover. I love your creative on it.

Very, very well done. It'll jump off the bookshelves and not get lost in the shuffle. But you've never been lost in the shuffle since I've known you. So that's perfect for you. So thank you for standing up against our crazy culture out there. We're watching you do it, and we're praying for you. thank you for who you are and your service to this country thanks so much for having me on y'all take care come by and see us my friend Nikki Haley if you want something done ask a woman powerful stuff this is the Ramsey Show Thank you. I'm going to go ahead and get started. Christina Ellis, Ramsey personality, number one bestselling author, is my co-host today.

Our question of the day comes from Blinds.com. They have a 100% satisfaction guarantee. It means even if you mismeasure or you pick the wrong color, they'll remake your blinds for free. Free samples, free shipping, new promos all the time. It's a great deal. This is a wonderful company. If you're going to put a blind in your house, this is the way to do it. Blinds.com.

Use Ramsey as your promo code. It's magical. It'll get you the best deal. Today's question comes from Beth in North Carolina. My 18-year-old has $40,000 in stocks that was given to him by a family member. To pay for college, should he pull money from them to pay for each semester or pull money from them and pay each year in full? Is one option better than another or does it not matter? If he pulls from them, how does he figure out how much he'll pay in taxes each year he cashes out stocks? It's an interesting question. I'll let you speak to the

tax part, but I'll quickly cover the financial aid part. One of the biggest questions I% whenever they're calculating your financial aid. And if that's income, it's factored at 50%. So by pulling that money in, if he's still applying for the FAFSA, it could be counted as income in a future financial need equation. Therefore, it could reduce his eligibility for future financial aid. So that's a factor that a lot of people don't consider when they're looking at his assets. So what would be his best strategy in that case? Well, he may not want to spend it at all until the end of college. If he can find another way to go to school debt-free, he may want to just leave that money invested. If he can get

scholarships, if he can pay for it, because right now it's a student asset. So student assets are factored at 20%. So that's $8,000. Versus the income, if he pulls it out as income, it's factored in at 50%. Yeah, but if he pulls out, if it's $40,000 and he pulls out $10,000, it's $5,000, not $8,000. But the thing is, it just depends on what his ultimate EFC is. If he's a high-need student, that could not come out of the running for different. $5,000 could? If it increases its efc significantly so um well and it's just that money could be if he can get a scholarship instead i mean it could be better to left leave that money saved because

if he's got a zero if he can work and get scholarships and not touch it that's going to be the best for the equation yes especially for future financial aid but eight thousand dollars still count against him just because he's got it on the books twenty percent of forty the best for the equation. Yes, especially for future financial aid. But $8,000 is still counting against him just because he's got it on the books. 20% of 40. Yeah, I mean, it's still going to count. So it's just important to look at how your income and assets are going to affect you, especially as a student. So if it's a parental asset, it's only factored in at 5.64%. So parental assets have a lot less of a ding on the financial aid equation. What the crap do they get? 5.64. I know.

I know. This is bureaucrats, right? This is 5.64 is the exact number of actual, oh my God. But it's a conversation to have. A lot of people. It's a conversation to have, but at the end of the day, in no case are we saying use debt to keep from messing with this. You use this money to avoid debt at the end of the day if

you have to even if it messes up something else but go get scholarships work leave the money alone is the best for the formula right but if you um if if the formula is if you don't have access to anything use the money pay cash for college as you go now you're well go ahead it's also important that this family member they put it in the student's name. Perhaps they could have put it in the parent's 529. Therefore, it would have been a parental asset. But if they put that in a brokerage account in stocks in the student's name, then that's just a different factor. So if you're a family member wanting to give a student money for college, talk to the parent because you could put it in the parent's 529 and then that'll affect the FAFSA differently. So just be strategic about that because I've talked to countless families who didn't really know how that factored in. Unless you're just going to give them enough pay for college and that's it. Right. That's fantastic. If you're just going to pay for college.

If 40,000 pays for the whole school, then that's different. But it won't. Yeah. In most cases anyway. Yeah. I wrote about it in my second book, How to Graduate Debt Free, just how parents and students can look at their income and assets to make sure they're doing it the most strategic way, an informed way, so that they don't accidentally ding themselves on the FAFSA just not knowing. Yeah. Now, your answer to your tax question is this.

Your basis for tax calculation is, in other words, the equivalent of what you paid for it. It would be your basis normally. But with a gift, your basis is the value of the stock at the time he received it. So it's worth $40,000 today. Let's say that it was worth $30,000 when he received it, and it's gone up to $40,000. He only pays tax on the gain over what it was worth when he got it. That's all. Okay? the gain over what it was worth when he got it that's all okay and so he needs to figure out what the value was at the time he received the gift of the portfolio and there's probably sitting

with a broker the broker probably do that one phone call one email all right and so uh whoever the financial advisor that's helping you with this can probably do that and then you're going to pay he's going to pay taxes at the capital gains rate of 15 over what he paid or what it was worth at the time he received it and so in my example if he cashed out the whole stinking thing and it was worth 30 when he got it it's worth 40 now he has a ten thousand dollar taxable event at 15 the taxes are 1500 bucks and500. And so it's not bad. So your basis in a gift is the value at the time. No, wait a minute.

That's on estates. I just did that wrong. All the CPAs out there are throwing rotten tomatoes at the radio right now. I screwed that up. No, the basis is what the guy that gave it to him paid for it. It's worse. The family member, what they paid for it is the basis on a gift. He did not inherit it.

It stepped up basis in an inheritance. But in this case, you guys can all send me hate mail on Twitter and everything else you do anyway. But yeah, I screwed that up. I almost screwed it up. I fixed it mid-sentence. Yeah, you got it. You got it. I caught it halfway through as I stumbled across the line and fumbled the ball and missed the Super Bowl. But anyway, yeah, that's it.

You have to find out what the family member paid for this set of stocks that he gave to your 18-year-old. And that's probably a lot less. You've got a lot of taxes here yeah and to quickly go back to the income so if they took out that forty thousand dollars um in one single calendar year and it's factored in at fifty percent of their income then that reduces their aid eligibility in future years by fifty percent so that's twenty thousand all the future years as well not just that year next year oh the next year the following year okay yeah so it's actually a twenty thousand dollar yeah ding so one thing they could have done would have been to cash it out when he was a senior in high school and put it into an ESA or junior year because now it's

prior prior yeah yeah if you go away to junior that'd be even better but yeah it was that long ago and and that way it doesn't affect your formula and it gets it out of single stocks and put it in something else. Right. Where it's not as volatile, because I don't know what this portfolio looks like. So there's a lot going on here. The bottom line is we're not going to look a gift horse in the mouth. Ha-ha, this is a gift. And so there's lots of good things about getting $40,000 that I can count that beat any kind of equations for financial aid or beat a little bit of capital

gains taxes. So it's a wonderful, wonderful gift. Well, just have those conversations because it could be a simple conversation. Sophomore year could save you, you know, $4,000, $8,000 in the long run, and that's worth it just simply by having that knowledge. And if you moved it into a 529 in a mutual fund, it going up in value, it of no taxes from that point forward so you would limit the taxes and you would have limited the damage to the thing if you'd have moved it ahead of time so there we go now we got a good strategy catch it the sophomore year move it then kim's in philadelphia hi kim welcome to the ramsey show hi christina hi dave thank you guys so much for taking my call sure what's up okay so a Okay. So a caller, um, a few weeks ago,

I'm not sure when, but had been talking about some social security death benefits that he had received for several years. And at the end of the conversation, he kind of Dave, he said, um, well, that's not what I would do with them, but he didn't really elaborate on that so i'm calling to ask for a little bit more elaboration on that my kids um i have three kids and we're getting uh social security death benefits um actually all four of us get them but when did your husband pass he passed this just past june oh i'm so sorry thank you well what I would do is simply this. I would integrate them into the budget. Because you spend more raising these kids than the government is giving you, so you are not stealing their money.

You're not stealing their money. I would just integrate it into the budget, make it part of your income, and you take care of your kids. You take care of their college. You take care of their life. You buy their clothes. You pay them their doctor bills. And all of that adds up to way more than you're getting in social security. So you're not taking their money from them and doing something else with it. You're taking care of them in excess of

money you're receiving to take care of them. So I would integrate it into the budget is what I teach. This is The Ramsey Show. Our scripture of the day romans 15 13 may the god of hope fill you with all joy and peace as you trust in him so that you may overflow with hope by the power of the holy spirit martin luther king jr said out of the mountain of despair a stone of hope oh Ooh, man. Good term phrase. Absolutely amazing. Christina Ellis, number one best-selling author, Ramsey personality, is my co-host today. Boca Raton.

Daniel's on the line. Hi, Daniel. How are you? I'm good, Dave. How are you doing? Better than I deserve. What's up? So I wanted your feedback on a few things.

I think it's going to be kind of a three-part question. So I have not been great at managing money most of my life, and I have racked up a lot of debt, not in the hundreds of thousands, but with medical bills included, maybe $40,000 or $50,000. And I sat down with some friends. What I've decided to do is actually live out of my car because I own it. Why not? I'm still paying it off, but it's, you know, I have it.

That's something I can use and put all that money I would put towards rent utilities towards savings. However, I'm working baby step one and three together before I move on to two. Just I feel given inflation and where things are at, that might be the wisest thing. But I kind of wanted to tie into this question on, because I think a part of my problem has been income. And I think there's just more I could do in that area. And so I'm trying to see if where in the baby steps paying for college and cash might fit into

that, um, to increase my income, or if you even think it's worth it or not to go to college these days. What do you, what do you make a year? Um, well, I'm I'm in multi-unit management. I'm a district manager. I'm making about $70,000. Multi-unit. What's that mean? So you oversee multiple locations of the company you're working for. Oh, I see.

Okay. And are you in different cities all the time, or are you just planning homelessness? I'm in a couple different cities. It just depends. I structure my week differently every week. Do they give you some kind of travel per diem allowance for hotels? Well, yeah. I don't travel that far. Oh. I don't pay any out of, like, they reimburse, I think, 66 cents a gallon of gas. But, no, there's no need for a hotel.

Oh, I see. Okay. All right. Okay, so you're asking our opinion on this whole situation. Am I gathering that correctly? Yeah, I made some of these choices, like moving into my car to get rid of debt, get rid of everything and save as much as possible. I appreciate that.

That is so extreme I would not recommend it. Okay. I have never recommended someone live out of their car in 30 years of doing this. You make $70,000 a year. I don't want you to rent something for $2,500 a month, but i want you to get a roommate and get a cheap little apartment of some kind and have a place to unpack your stuff and take a freaking shower okay i mean i use the gym and all that i know what you're doing i know exactly what you're doing but i don't think it's romantic at all um i'm just telling you. I think the quality of your life is going to enter into your ability

to sustain long-term working a plan. And you've gone so extreme that it's going to be very difficult emotionally. You're untethered from everything in this situation. And so it's one of the problems when we work with the homeless community it's one of the problems they face emotionally is being untethered there's no anchor to begin to build from a solid place and that's the emotion that they feel you're doing this intentionally so you're not quote in the homeless community but you've chosen the exact same lifestyle as a as a single mom who got thrown out of her apartment is living in her house and showering at the gym and it's the exact same thing

as a homeless in a homeless scenario so i i would choose to have a a very very very very modest place to live but a place to live number one um number two I'd look for any extra jobs I can do to get my income up and then number three you don't work the baby steps out of order yeah and I mean you can find even with the room situation you can get a roommate you can live in a room for three hundred dollars a month it may not be glamorous but it's definitely better better than being untethered yeah more more glamorous than the back seat yeah and with the college conversation Dave he mentioned paying for college um with 40 to 50,000 in debt would you even consider that right now not right now not right now yeah I want to get I want to get up and running and what I would do is is making 70,000

plus some extra work I'm going to plow through this 40 or 50,000 in extra work, I'm going to plow through this $40,000 or $50,000 in two years. And I'm going to have an emergency fund, and then I'm going to save and pay cash for college as I go. And do we recommend college as a long-term play? Absolutely, if it applies to your career field. Generally, just going, I want to go get a degree. No, I don't recommend that just as an opportunity to play beer pong for your 18-year-old. No, thank you. But we do say, you know, if you're going into a field where the academics,

the rigor of academia, and the actual knowledge base that you come out of it with will be helpful and cause you to go forward, not just the degree, but the actual knowledge, then, yeah, I would go get that knowledge. It is a barrier to entry into some things. It's a barrier to progress in other things. So, yeah, I would go get that knowledge. It is a barrier to entry into some things. It's a barrier to progress and other things. So yeah, I would do that. But it's not a magic pill. Like suddenly everything's going to be okay because I got a college degree. Well, and that's, I think, part of the challenge is he's making good money. And I think sometimes when people feel overwhelmed, when they feel uneasy, they kind of look at college as that

auto solution. Like if I get a master's degree, then I'm going to make more money and my problems will be solved. And I've met plenty of people who went into debt to get a master's degree and they didn't make that much more money or even any more money at all, really. So, I mean, it is good to go back to college if it's going to truly help you.

You can get a master's degree in social work and take a pay cut in his situation. Right, exactly. So, college, it's a great conversation. We're big advocates for education, but make sure the education has a purpose and a point and makes financial sense. It's not a silver bullet that makes your life all good all of a sudden. That's not how it works. But yeah, so be intelligent about that. But what I would do is go get a roommate situation, a modest apartment, an extra job. I'd get on a tight budget and I'd work

the baby steps in order. $1,000 and then i want you to tear into these debts and start plowing your way through them you're going to be amazed when you don't do anything out if you're willing to go so extreme as to live in your car the extreme you can do with an apartment and still get out of debt making 70 you'll be able to knock out 40 or 50 000 i mean it's 25 000 a year out of 70 and you're debt free in two years you can do this um you know you'll be done in short order a lot faster than two years probably you could be done in one year depending on how much extra you work you know you could make an extra 25 grand yeah and be done in one year with your income plus 25 grand. That's very possible considering you do nothing else with your life because you were going to be living in the car.

And, you know, I mean, you're willing to go extreme. That's for sure. So that willingness tells us your motivation is really high. And that's a wonderful thing. You'll be able to utilize that. So, Daniel, we'll help you with this. I want you to go through Financial Peace University as our guest. We're going to show you detail by detail, step by step, how to do this stuff, why to do this stuff in order.

Your situation is not different. You need to work the baby steps in order. There's a baby step two that follows one for a reason. And you're not different. It is baby step one, two then three and um you know don't talk to me about inflation you're the guy that was getting ready to live in his car don't talk to me about you've got this thing figured out you're the guy that was going to live in his car follow the stinking program dude and we'll show you how to do it we'll pay for it for you it doesn't cost you a

dime we want to help you and call us back and tell us how you're doing say i was the guy who was almost homeless you talked me out of it tell us how you i'll remember the call tell us how you're doing if you just tell me you're daniel and boca i won't remember it i promise you but tell me the situation it'll come right back to me i promise so i'm proud of you i'm proud of you for being willing to sacrifice a lot of people in our culture aren't willing to sacrifice we're too lazy and if you're willing to hustle and grind and willing to sacrifice you A lot of people in our culture aren't willing to sacrifice. We're too lazy. And if you're willing to hustle and grind and willing to sacrifice, you can pull off a lot of stuff in this culture today. A lot of wonderful things can happen in your life.

So I'm proud of you. Good work. Good work, Christina. Well done. Well done today. Austin Selby is our associate producer and phone screener. Ben, Zach, Andrew, and James, the booth dudes, are running the show in there.

I am Dave Ramsey, your host. 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. Have you been inspired to make a change with your money? Want to know where to start? Take our three-minute money quiz to get a plan you can follow. Go to RamseySolutions.com and search for Get Started to get a plan for your money.