The Ramsey Show - App - When You're Always Thankful, You're Always Generous (Hour 3)

Episode Date: November 27, 2019

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Music Music Live from the headquarters of Ramsey Solutions, broadcasting from the Dollar Car Rental Studios, it's the Dave Ramsey Show, where debt is dumb, cash is king, and the paid-off home mortgage has taken the place of the BMW

as the status symbol of choice. I'm Dave Ramsey, your host. Open phones this hour at 888-825- 5225. That's 888-825- 5225. On the eve of Thanksgiving, we always request, in order to

be on the air, that you tell us what you're thankful for. It's your ticket to get on the air today. What are you thankful for? Again, the phone number 888-825-5225. Thanks for joining us. Now, as we head into the busiest shopping weekend of the year, you need to know that retailers make 70% of their revenue

from today to the end of the year. If they don't get your money from you during this 40-day period of time, they go broke. It is their job to get your money. You should know that. There's nothing wrong with you buying some things. If they're on your plan of what you're going to buy and part of your Christmas budget, and you're going to enjoy a plan, and you're going to execute.

That way the March version of you does not hate the December version of you. You don't wake up with a financial hangover in January or February because of what you do this weekend. Go ahead and be an adult. Think. Plan. Work your plan. Children do what feels good. Adults devise a plan and follow it.

I'm old. I know Santa Claus personally, and he makes a list and checks it twice. He has a plan, and he wants you to plan. So, moms and dads, you can spread the word to the little guys that a plan is part of Christmas. It's not lacking in Christmas spirit.

It does not show Christmas spirit. It does not show that you're a good mommy or a daddy to buy things that you cannot afford with money that you don't have to impress people you don't even really like. You're not going to make broken family relationships better by the purchase you do at Christmas. If you do, you have a really screwed up family. You cannot buy happiness and you cannot buy quality relationships. You can buy some stuff and you should, and you should buy some stuff to have fun with. Have some fun.

I can promise you Papa Dave will be buying some toys for the grandbabies. I like watching them run around and make too much noise. They sound like a little group of pterodactyls that pierce your eardrums, and I want to have all that excitement. I want to have all that fun. I'm just like everybody else. We don't give our children a box of coal at Christmas and hope it's okay, a box of twigs and hope it's okay.

We want you to enjoy your Christmas, but do it like an adult. People justify and rationalize some of the dumbest butt things in the next 72 hours that you can possibly imagine. Case in point, standing in line at Target and getting in a fight over who gets a TV. That is a screwed up value system. I'm not sure standing in line in Target isn't screwed up to start with, but on top of that, getting in a fight over who gets a TV at a bargain. Come on, people.

That's your value system? No. We're not going to have that this weekend. You need to behave out there, America. Be grown-ups. So enjoy your Thanksgiving. Be thankful. That's what it's for.

Stop for a moment and smile and look up into the heavens and say, Thank you, God. You have blessed me beyond my wildest imaginations. Because he has. Some of you have had the worst year of your life. I talked to one of my team members a while ago in the hallway right before the show he said all i want from 2019 is for it to be over it has been a horrible year we've had this sickness and this car wreck and this item and this thing went out of the house and this broken relationship he said man it's

just been a horrible year all i want is this thing in my rearview mirror that might be you too but even in the middle of all that there's something to stop and say thank you for. You may have had the best year of your life and you should stop and say thank you. That is what Thanksgiving is about. It's about giving thanks. Godliness with contentment is great gain. The purchase of stuff is fun, but it does not make you happy. The purchase of stuff is fine. There's nothing wrong with you having a nice car, a nice home, a nice vacation. There's nothing wrong with that as long as you pay for it in cash. There's nothing morally wrong for you to get those things. Well, there's the starving children. Yeah, I know, there's nothing morally wrong for you to get those things. Well, there's the starving children in where, yeah, I know there's starving children.

I'm sorry, and I'm not mad at the starving children, but the way people blame other people that are envious and jealous for having some nice things that they worked for is ridiculous, so don't fall into that either. I want you to enjoy the season. Enjoy Black Friday. If you're a shopper, I'll tell you what I'm going to do. I'm going to figure out where the mall is, and I'm going to stay away from it. That's what I'm going to do. I'm going to find myself out on the farm somewhere, probably shooting some innocent paper plates with my handgun or something like that. So I'll be staying away from the mall, I can promise you.

I want nothing to do with that stuff. But if you enjoy it, if you're a shop-a-saurus, that's fine. Get down there in the middle of it. It gives you energy. Have fun with it. But do it with a plan and don't come home with a financial hangover. The childishness that adults approach some of this stuff with is what I'm addressing. The childishness says this will make me happier, make my kids happier, make my mama finally be nice. Your mama's just mean. She ain't going to be nice.

If she's not nice already, buying her something ain't going to make her nice. She's just a mean woman. You're just going to have to accept that. I'm kidding. Not really. But, I mean, you see what I'm saying. I mean, you're not going to fix these relationships buying them stuff. It doesn't change anything.

The purchase of items, you know, and this idea that everybody has to have everything just exactly right, this idyllic thing like it's in a movie or something. I don't know about you guys, but most of our Christmas mornings are disasters. There's always some stupid thing that the part doesn't fit, the battery doesn't come. It didn't come with batteries. I didn't buy batteries. I was up half the night, you know, putting it together.

You do all this stuff, and, you know, it doesn't't matter there's always some wah wah wah let down it's part of the equation and the only reason that happens to all of us is our level of expectation we're trying to make stuff do things it's not designed to do stuff does not bring you peace stuff does not bring you peace. Stuff does not bring you happiness. Stuff does not heal relationships. Stuff is fine and stuff can be fun, but that's all it is. It's just stuff. This is the Dave Ramsey Show. Do you know who is a prime target for identity theft? Your children. Kids have no debts or credit history. Their personal information is just as easy to get, but the theft

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And it's the only plan I provide to my team. zander.com or 800-356-4282. Jessica is with us in Minnesota. Hey, Jessica, what are you thankful for? I'm thankful to wake up every day alive and happy and healthy and all the little things and, of course, discovering all the baby steps in your program. Cool. How can I help today? So I have a lot of debt. I'm in baby step number two. And right now, just to maintain all my current finances and be able to afford everything, I have asked for a reduction on some of the monthly payments for these loans,

and going forward, I expect my income to increase, but I was wondering if it would be beneficial to keep requesting for certain loans to be smaller so I can focus more money towards the smallest loans and then pay them off faster. I guess I didn't know if that would be a good idea. It doesn't matter mathematically, but it'll feel better. If you can get a sense of progress, a sense of traction by knocking out a couple, that's going to give you a sense of, hey, this is working, I'm going to make it. When you feel like you're just a rat in a wheel spinning and you're not getting anywhere it's hard to maintain your motivation right so yeah it's okay it's okay to

take a lower minimum payment but keep in mind you know paying less there more over here you still have the total debt you got to knock out you just you just moved it around there's there's still a p under one of those shells is what it amounts to and so you'll be fine you'll get there uh but it's not it doesn't do anything um doesn't do anything for the math at all tanya is with us in texas hey tanya welcome to the dave ramsey show what are you thankful for hi Hi. Definitely, I'm going to say, you know, family, friends, and my faith. Love it. How can I help today? I had a couple questions.

I'm kind of lost when it comes to retirement systems and the retirement progress. So we move around frequently because my husband's job. So I have three different retirement um accounts in three different states so i have a peers and then two states with trs and i know we're about to move again in about six months and so i'm going to have to start another retirement plan i just don't know do i just keep up with them throughout the years and hope for the best or do i is there a way to consolidate them if you get you can't technically consolidate them but you could put them all with one advisor in iras and that's what i would recommend if you're allowed

to take them with you meaning if you can take a lump sum distribution on any of this and roll it to a rollover ira in good mutual funds in every case would. And with you moving so much, I would fund a couple of Roth IRAs before I put money into your state plans. Going forward. Yeah, going forward. Because you can do $12,000 a year if you're married, $6,000 each, before you even started talking about putting money into a state plan that creates all these gyrations for you.

Now, sometimes, depending on the state or what you're doing with the government, it's mandatory contribution. That's possible, and they may or may not allow you to roll it and take it with you. They have all kinds of different plans. But before I even did 401Ks with a company, if you're moving a lot, unless you're trying to get a match out of them, I would, I mean, I would just do a couple of Roth IRAs. That'd be a good place to start. Hey, thanks for the call. Happy Thanksgiving to you. Joe is with us in Illinois. Happy Thanksgiving, Joe. What are you thankful for?

Happy Thanksgiving to you, too. I thankful for? Happy Thanksgiving to you too. I am thankful for a loving and forgiving family. That's awesome. How can I help today? Yes, absolutely. Well, Dave, my wife got a certified letter in the mail and she is being temporarily laid off until the beginning of the year. I had originally pulled out $3,000 from, uh, an employee country, uh, contributing stock. I get it on a discount. Um, and I was wondering, um, should I put that on? Let me say that I'm done with a baby step number one and I'm on number two. Okay. Should I take the $3,000 and put it on my debt or should I hold that as a cushion while she's laid off? Because just the other night, that little ugly I don't feel safe kind of feeling came out in her last night. Sure.

So what does she make a year when she's working? She's making about $65,000. What do you make? I make about $75,000. Okay. So you lost half your income. Exactly. Okay, so you lost half your income. Exactly, yes. So I would push pause on your baby steps and pile up any cash you can from any source without cashing out retirement. But I would pile up any cash I can pile up to weather the storm.

Now, I'm a little curious about, she had no warning whatsoever of this layoff she she did have uh a clue um but nothing was and the way these people tell somebody they're not going to pay them for a month is by mail yes okay and why would she stay there we've had this conversation multiple times we were actually looking at moving to alabama well i mean why would she say this company job opportunities down there yeah okay that's fine but i mean i wouldn't stay with a company that notifies me that i've lost my job by mail this is a toxic environment these people aren't worth working for yeah and so you know she needs to look for a different job

is my point uh whether it's alabama or whether it's there and uh i wouldn't go back over there this would have just been my notice that I was leaving. And who knows? She might get a job making $75,000. That would be lovely. Yeah. So, yeah, that's what I would do. I would say, let's get her to work, and then when she gets to work,

or if you guys move to Alabama, that's fine, whatever. When you get everything going and you land and the incomes are all settled and everything's going, well, then we push play again. But right now you're in the incomes are all settled and everything's going well then we push play again but right now you're in the middle of a whirlwind you're in the middle of a hurricane a storm and so while you're with that you just hold on to what you can hold on to and you keep the cash piled up for the rainy day fund because dude it's raining chelsea is with us in new jersey hi chelsea how are you hi dave i am. How are you? Hi, Dave. I am wonderful. What are you thankful for? I'm so thankful for my new husband. I recently got married in September. Yay! What a great year for you. How can we help? It is. So we are recently married. We are still

living in a small apartment, sharing with roommates um we are on baby step number two i'm working to get out of debt he is debt free i am working my student loan debt i wait a minute stop stop just a second just a second now you're married yes he's not your roommate he's now your husband and so uh we have a student loan debt that i brought into the marriage we he cannot be debt free when you are not got it change your change your pronouns okay on it all right okay so you got how much student loan debt so i have about 65 000 45 000 of it i co-signed for my brother okay um which he does not regularly pay. So I've accepted that, come to peace with it, paying it off.

So I have two questions. One being, I'm overpaying. I have a side hustle, and my husband now is helping me pay as well, so we're overpaying. Do we even refinance? That would mean I would then be solely responsible for the loans. My brother, Jermaine, would come off of them. That's my first question. Not unless you're going to be in debt for a long time. Are you going to be in debt for a long time? Nope, nope. We're trying to...

Okay, what's your next question for a run out of time? I have an inherited IRAa of twenty six thousand dollars i would cash that out and pay the taxes and throw the balance at the student loans immediately and uh yeah definitely do that we don't cash out retirement accounts but inheritances we use to pay off debt as soon as possible and that's what we're talking about here. So, hey, great question. Congratulations on the new marriage. Happy Thanksgiving. This is the Dave Ramsey Show. Happy Thanksgiving. happy thanksgiving in the lobby of ramsey solutions on the debt free stage drew and

sharon are with us hey guys happy thanksgiving to you how's it going giving to you too what are you guys thankful for as we get started on your debt-free scream we are definitely thankful for our faith in our family amen very good so good. So, where are you guys from? We're from Seymour, Indiana. Awesome. And how much debt have you paid off? We paid off $427,000. Whoa! And how long did this take? Two years and nine months.

Wow. And your range of income during that time? $101,000 to $150,000. Okay. Cool. Very cool. What kind of debt was the $427,000? We had a house that we sold during our debt-free journey. So I took a big chunk of that and we had the normal student loans and car debt and other household debt. Credit cards. Okay, so this was a rental house or a house left over from a move or you sold your personal residence? Personal residence. It was a house that we actually built. Oh, whoa.

Okay. So where are you living now? We purchased another home to live in. A move down then? Yes. Okay. So what did the house sell for that you sold? Around $300,000.

Okay. So $300,000 of the $427,000 and then the other $127,000 you cash flow. Awesome. Very cool, you guys. Pretty radical journey you've been on very so uh tell me the story how did this get started uh we had started talking about retirement when we hit the age of 35 we sort of decided that retirement wasn't possible if we were going to keep living the way we'd been living so we had got reconnected with an old friend and he was putting on an fpu

course at his church and we decided to take the course oh wow okay and so you wander in there going uh what we've been doing is not working and something's got to change you had no idea how wild it was going to be though no so what did you think when you went to the first class that first night? I came home and I thought, this is definitely possible. Hope. Yes, absolutely. And that we were normal. I mean, we were living like everybody else, but that needed to be changed. So we sat down and cut up our credit cards and we got a written budget.

So kind of remove the shame. I used to think I was the only stupid one. And it turns out most everybody is you know yeah and uh it takes the shame off but it doesn't give you permission to stay there and there's hope that there's a way out a plan out so what happened to you drew with the first class or two uh you know i think the one thing that was uh the most interesting is a lot of the dave ramsey things that we read you know talked about people with credit cards and you couldn't live without a credit card you couldn't live without a credit card. You couldn't travel without a credit card.

You couldn't have a plane flight without a credit card. And we're sitting here today almost four years removed from any credit card, any type of credit whatsoever. And you're alive! And we're alive. Yeah. We have a debit card in our pocket, and that's it. And you can't use that if you don't have money in the account.

That's exactly right. That's a novel idea. We probably ought to do that for Congress. Just give them a debit card and get them off the credit card. Yeah. Oh, my gosh. Way to go, you guys. Thank you.

Way to go. So you went through the Financial Peace University class, and then so if someone hears that you paid off all this debt, and you sold your house, and you have a debit card, and you're completely debt-free, and how'd you do that what do you tell them the main thing they have to do if they want to get out of debt is they definitely have to have a budget that was one of the huge successes that we found and communicate we talk daily about our financial situation and setting up the budget and where our money's going and that has definitely kept us on track.

Good. Yeah, the budget's a key. I mean, we would sit down at the end of the month and have no clue where our money had gone. And we would look at each other and say, well, how can we not have money at the end of the month? Yeah, we make $100,000. Yeah.

I never knew anybody made $100,000. Made $100,000, it's gone. Yep. Yeah. Yeah, that's the kind of conversation that happens between you and the – I mean, the people down the street don't seem to be having that trouble, and yet they're worse off probably than you. You know, that kind of thing.

So well done, you guys. Thank you. Very, very well done. So two years and nine long months. Was it worth it? Absolutely. Absolutely. I mean, we have met more people, rekindled old relationships,

and honestly found more people that we had no clue that followed Dave Ramsey, no clue that they were into this mindset. So this has been a great journey. Wow. Very cool. And now that it's done and you don't have any payments, how does it feel? Amazing. Awesome.

How long have you all been married? 15 years. You ever been debt-free in 15 years? No. No. Now after 15 years, you have a whole different feeling. Yep. I'm so proud of you all.

Well done. Thank you. Very, very well done. That's very cool. Very cool. So outside the two of you, your biggest cheerleaders, probably financial peace class and who else? Our biggest cheerleaders were the two that got us into FPU. Yeah.

They still stick with us. And then we have another couple who are actually Dave Ramsey followers also, and they have stuck with us. Our Friday nights have turned into hanging out with them. Oh, wow. Okay. Yeah, I think we have another Dave in our life, and the other Dave is, I don't know, annoying is probably a strong word, but he was one that definitely kept us focused, and he kept us on the track.

Lovingly aggressive. Yes. I'm going to use that. That's a good term. That's great. Well done. What was the hardest part of this? I think the hardest part is to realize that everyone else isn't normal.

And when you see the cars, I mean, my wife's a school teacher. I'm a school principal. So I feel like we're the, you know, if we can do it, anyone can. I mean, there's no excuse whatsoever for someone not to be able to do this. And, you know, I just, it's been a, I think that's probably the biggest thing is just trying to tell people you can do this. We've had people in our home. We've went to other people's homes to talk about this. Just the inspiration of bringing

other people to the table has probably been yeah you can't keep a couple teachers from teaching no that's awesome you guys are fun great job very cool and you brought the kiddos with you to do the debt-free scream we did what are their names and ages isaiah is 10 kensley is six and the little one is casein and he is two all right casein casein has been practicing very good all three of them have i think they're all kind of ready for this we're ready been working all the way from indiana on the dead free scream right very much i love it very cool we've got a copy of chris hogan's book for you everyday millionaires that's the next chapter in your story. You're living like no one else. Now live and give like no one else.

Well done. We're proud of you, heroes. Thank you. All right. Drew and Sharon, Isaiah, Kinsley, and Kaysen from Indiana. $427,000 paid off, including the sale of a $300,000 house, in 2.9 years. Two years and nine months, 101 to 150 count it down let's hear a debt-free scream are you ready three two one we're debt-free How fun. How fun.

Absolutely fabulous. Well done, you guys. Very well done. 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 window blinds for free. They got free samples, free shipping, new promos all the time. Use the promo code Ramsey.

Bruce is in Kansas. Dave, I'm totally debt-free. No mortgage. $2.5 million net worth. Do I need long-term care insurance as I would be able to fund long-term care for my wife or myself? Secondly, what form of long-term care is recommended? A traditional policy or the alternate method of either an insurance policy or an annuity. Never do the alternate method.

If you're going to buy it, just buy straight long-term care. Make sure it has in-home care. I think you're in a position to self-insure. If it costs $50,000 a year to do long-term care in your area, in-home care or in a nursing home, and you did that for 10 years that would be five hundred thousand dollars you still have two million dollars left over the average nursing home stay is 2.4 years almost no one statistically goes longer than five years so there's a few that do but statistically i'm talking about so if i were were in your shoes, I would self-insure.

If you do not have $2.5 million, you need long-term care insurance when you turn 60. You don't need it before then. But this is how it's done. This is the Dave Ramsey Show. Thank you. Our scripture of the day, Romans 15, 13. May the God of hope fill you with all joy and peace in believing, so that by the power of the Holy Spirit you may abound in hope. It is not joy that makes us grateful, David Rast says. It is gratitude that makes us joyful.

It is good to have a holiday that tells you to stop and be thankful to God. And that's what this holiday is about. The original proclamation from Abraham Lincoln from 1863 states that this holiday is for us to say thank you to the Lord Almighty for our blessings. Now, some of you politically correct people don't agree with that, but that's what the Thanksgiving proclamation says, signed by the president of the united states so you probably ought to know your history it's a good thing be thankful and when you're thankful you know what always happens you're always generous through this holiday weekend look for some opportunities to practice outrageous generosity.

That could be running across the parking lot to help someone load something into their car. That could be holding a door open while everyone else is running over someone. That could be a money transaction where you leave an outlandish tip. It could be a lot of things, but generosity is not an action. It's a spirit. It's a character quality. Integrity is not an action. It's a character quality. Generosity falls in that category. So you've got the opportunity to be out there be a bargain hunter have fun enjoy the holiday enjoy the shopping time enjoy getting ready for christmas enjoy thanksgiving enjoy eating too much it's the holiday that causes that

enjoy all of this stuff but be. Find some things you can do this year that are different in the generosity area. And sometimes you may be, you know, some of your Black Friday sales may be an opportunity for you to buy something for someone. Maybe it's a Christmas present, maybe it's not. I don't care. Practice generosity. It's a christmas present maybe it's not i don't care practice generosity it's a lot more fun than about anything else you get to do with money it's about the most fun you'll ever have with money open phones at 888-825-5225 we do have our christmas black friday sale in our store at davramsey.com. Bargain hunters are rushing in there, too, of course.

And now through December the 1st, you can take advantage of all these deals. Up to 70% on new arrivals, exclusive bundles. Lots of our books are on sale for $10 each. Lots of people buy, like, a case of books for $10 each because they make great stocking stuffers. And you can get, number one, bestseller, Everyday Millionaires, number one bestseller. Lots of our number ones. Most of our books are number ones. But you can get the number one kids bundle, the Adventure Pack.

Check it all out at DaveRamsey.com or call the Ramsey Concierge team at 888-22-PIECE and shop the Black Friday deals. Don't wait. The deals end on Sunday, December the 1st. Nathaniel is with us in Colorado. What are you thankful for, Nathaniel? Hi, Dave. I'm thankful to God for my wife and my five-month-old son. Yay! How fun is that? Love it. Cool. How can I help today? Well, thank you so much for taking my call. Essentially, my wife and I, we bought a home in May, and this was before we knew about the Baby Steps or Dave Ramsey, anything of that sort. And since then, we've gone through Financial

Peace University. We are $128,000 in debt. Our income is $115,000. However, my wife at the end of this school year wants to stop working, which I'm 100% supportive of. And that's $45,000 worth of our income. So her last paycheck will be in July of next year. And we're trying to discern whether or not we should sell our home. If we sell it... When she quits, will the house payment be more than a fourth of your take-home pay? Yes. What will it be, percentage of your take-home pay?

When she quits, it will be about 55% of my take-home pay. I'm currently looking for another job to kind of make up for her pay, but even with her pay, it's about 35 to 40%. Yes, I would sell the house. Okay, perfect. In order for her to stay home, that house has to go. Okay, cool. And I think my follow-up question to that is right now, we're in Colorado, so the market's a little bit crazy and the value goes up. But if we were to sell it right now, the realtor was telling us that we would probably have to pay about $5,000 to $10,000 just in the clothing costs and stuff. So that would go into our debt. But if we were to wait until the spring, we could essentially avoid that and even make about $5,000 to $10,000. Would you just sell it right now and not even worry about it or wait until the spring um we could essentially avoid that and even make about five to ten thousand dollars would you just sell it right now and not even worry about it or wait into the spring it doesn't matter it's got to be gone before she can come home okay cool because you cannot survive

on a house payment of 55 of your take-home pay that will crush you it just mathematically you you're going to have trouble even paying lights and water and stuff 55% of your take-home pay. That will crush you. It's just mathematically, you're going to have trouble even paying lights and water and stuff, much less talking about any kind of prospering. So the house has to be gone. So like Feb 1, February 1, it goes on the market. That's about the latest, because if she wants to quit in May, because you can't take chance. Because, listen, if the house is not gone in May, she can't quit. She can't.

You've got to pay the bill. And you cannot make it on 55% of your take-home pay or be on a house payment. You just can't do it. So, you know, I'm going to make sure if job one, if goal one is her coming home to be with this baby, which is what sounds like we're talking about, and I'm on with that, that's fine. But you have to adjust your expenses to fit your income then. You can't have your cake and eat it too.

You can't live in that house with, you know, $50,000 less income. It's tough to live there now. It's tough to live there now. It's impossible to live there after she quits. So it's just got to be gone, whatever that means. You know, but I would say February 1st is when I'm putting it on the market. All right, here we go. Ashley's in Missouri. Hey, Ashley, what are you thankful for?

I am thankful for my family, food in my belly, clothes on my back, and a roof over my head, and you. Love it. Well, we're honored. How can we help today? I was wondering if we should use my kids' inherited college fund to pay off some of our debt. My kids are 4 and 18 months. They have $10,000 each. And how much debt do you have? $35,000. And what's your household income? $120,000. Okay. Well, I think you're going to be out of debt in about 18 months if you don't use this.

And so I wouldn't use it. So here's the way I would do it. Here's the thing. Technically, you know, they're minors. It's your money. You can do with it what you want to do with it on a technical basis. Most people would feel lousy cleaning out their kid's college fund to pay bills. Yes, I would. I mean, most people would.

I mean, even though you're not doing anything technically wrong, it would just feel lousy. And I just don't want you to feel lousy when I think you can clean this up in 18 months. Now, if you were 100% broke and you needed this money to keep the lights on and keep the heat on in the house and you know keep you from being foreclosed on i'd use that money in a heartbeat without any shame or guilt okay okay but that's not what we're dealing with here we're just dealing with accelerating the velocity of your debt reduction that's all we're dealing with and you can do this i mean 35 000

on 100 grand if you did it in two years, that's $17,000 a year. That's a walk in the park, so you ought to do it in 18 months. You might ought to do it in one year, but for sure you're debt-free in 18 months if you do the basic math on this. So, hey, congratulations and happy Thanksgiving to you. You're on your way. You've got a plan. I love it.

Very well done. Well, happy Thanksgiving to all of you, America. Look for an opportunity to be generous. This is the time. I love it. Very well done. Well, happy Thanksgiving to all of you, America. Look for an opportunity to be generous. This is the time. If you're thankful, thankful people are always generous people. Be looking for that chance. Be looking for that chance.

That puts this hour of the Dave Ramsey Show in the books. We'll be back with you before you know it. In the meantime, remember, there's ultimately only one way to financial peace, and that's to walk daily with the Prince of Peace, Christ Jesus. Hey, it's Blake Thompson, Senior Executive Producer for the show. You know, you can listen or watch Beanie Wear with the Dave Ramsey Show app on your smartphone. Catch the full show or watch the highlights and check out Dave's upcoming guests. Head to the App Store and download it today.

Money isn't the only thing we talk about around here. Get life-changing advice on your career from my good friend and career expert, Ken Coleman, on The Ken Coleman Show. According to a recent Gallup poll, nearly 70% of Americans are disengaged at work. If you dread going into work every Monday morning and you're just trying to make it to the weekend, The Ken Coleman Show is for you. Everyone has a sweet spot. Your sweet spot is at the intersection of your greatest talent and greatest passion. We will help you discover what it is you were born to do, and then we'll help you create a plan to make your dream job a reality. You matter, and you have what it takes.

Join the conversation on The Ken Coleman Show. Hear more from the Ramsey Network, including The Ken Coleman Show, wherever you listen to podcasts. Hey, it's James, producer of The Dave Ramsey Show. This episode is over, but check the episode notes for links to products and services you've heard about during this episode. Thanks for listening.