The Ramsey Show - App - Which Baby Step Are We Actually On? (Hour 2)

Episode Date: December 29, 2022

Dave Ramsey & Kristina Ellis 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 and 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 they love, and create actual amazing relationships. Christina Ellis, number one best-selling author, Ramsey Personality, is my co-host today. We invite you to join us.

The phone number is 888-825-5225. Jacqueline in Phoenix is going to start off this hour. Hey Jacqueline what's up? Hi Dave thanks for taking my call. Sure. So I'm curious if I'm on baby step two or baby step six. My husband and I had saved for a house and we had a down payment. And while looking for a mortgage, my grandmother offered to let me borrow from my trust fund. And the expectation was that I would pay it back because she doesn't want me to have my trust fund until after she passes. And so I've been tackling the debt like it's baby step two. And my husband thinks maybe we should just chill out a little and tackle it like Baby Step 6.

You said you had a down payment for the house previously. Is that correct? What was that down payment? 40%. You had 40% down payment and then you borrowed from Grandma? Yes. Okay. How much did you borrow from her? $230,000.

Was that the rest of the house? Yes. Okay. So you owe your trust fund for your home? Yes. Okay. It's a bad Baby Step 6. Okay.

Okay. So how much is in this trust fund um i don't know exactly but definitely at least half a million still after you took 200 out yes okay so the trust fund was left from who to you my grandma is leaving it to me. Is leaving it to you. So she's already, she opened, she put the money in there while she's alive for you, her granddaughter, $750,000. Yes. And then she agreed to loan the money from the trust fund to you.

What happens if you don't pay it? Legally. Legally. fund to you what happens if you don't pay it legally legally oh um i was told that i would just get the balance of what's in the trust fund so i wouldn't owe the trust fund any money i would just get whatever's left so you did not legally do a lien on the house where the trust fund that is yours could actually foreclose on you? You didn't file a mortgage at the courthouse? No.

Were there any paperwork signed? Yeah. There was paperwork signed? Yes. On the loan? It's more like just a document between my grandmother, me a lawyer i'm sorry say that again it's just a document between me and my grandmother and the document states that you're to repay this at a certain rate yeah she's paying a certain dollar amount every month until it's paid back

or until she passes. Is there interest on that? No, it's an interest-free loan. Okay. I'm curious, what is grandma's reasoning for not giving you the money versus lending it? Does she have to? Yeah, which is what she should have done. She just doesn't want me to have access to it until after she passes, for some reason.

But she gave you access to it. Yes, she did. She's talking out of both sides of her mouth. I guess she doesn't want my cousins and siblings to also have access to theirs. Ah, she didn't want to set a precedent. Yes. That the others go, well, you did that for Jacqueline. Oh, yeah.

Now that makes a little more sense. I was getting ready to get after Grandma here for a second. Well, it's baby step six for sure to answer your original question it's not two it's a home mortgage it's just a weird home mortgage agreed yes okay there's no question about what this is for what the money went to why you have two hundred thousand dollars in debt it's all about this house and if you were to sell the house you would pay off the mortgage if you were to refinance the house you'd pay off the mortgage which would you were to refinance the house, you'd pay off the mortgage, which would be repaying the trust fund that someday will be yours anyway.

Yes. Hmm. Okay, I'm going to get tacky. Are you okay with that? Me? How old's your grandmother? I was going to ask the same thing. Like early 70s 72 73 maybe

our early 70s yeah okay how's your health she's great okay so this is gonna go a while well actually i mean we've been tackling it like it's baby step two so i only have three more years left on it but i was just wondering like if i were to go back to the agreed upon amount i could i mean it would take it like four years but i was just wondering i would i would do the agreed upon amount for four years okay yeah because baby step two is is gazelle intensity baby step six is you move from intensity to intentionality and um what i would tell you there is put 15 of your income away to retirement um in baby step four save money for your kids college and baby step five and any money you can get out of your budget beyond that

is extra payments on the mortgage that's a normal baby steps answer and i'm going to apply it in this weird situation okay yeah we just we've never had debt because we grew up on the ranv plan like our parents gave us your books as we were kids so we've never had that so we just we freaked out when we suddenly had that yeah how old are you guys uh 33 and 34 okay yeah so are you putting 15 away in retirement yes okay so you were already treating it like and then above that you're paying more than your normal agreed payment yeah and then we both have second jobs okay i might back off on the intensity have a reasonable life and pay the regular payment and what you can above that with having a reasonable life an intentional life and then get rid of this

wow there's only one thing keeping me from saying grandma made a mistake here and that's the precedent with the other cousins. Yeah, maybe she's got a crazy cousin. She does have a point there. See, the difference in me, though, is this. We told our kids fair is where cotton candy and the Tilt-A-Wear world are. Fair is my money. I decide what I want to do with it.'s fair and so if i want to give your brother more i'll give him brother more it's my money um and so if your cousin called up and said

if i was your grandmother i would do away with this loan because i think it's weird it's icky it's strange the borrower slave the lender i got a weird feeling in my stomach talking to you about it i don't like it so i would pay it off and reduce your amount. And if the cousins come around and go, no, I just did that for her. I'm not doing it for you. By the way, it's free money, so you don't get a vote. My money. You know, you can just say no.

No is a complete sentence. And fair is where there's cotton candy and the tilt oil. It's not fair. Well, it's my money. Go visit the oil. It's not fair. Well, it's my money. Go visit the fair. It's not socialism. It's capitalism. This is The Ramsey personalities, my co-host today.

Jake is with us. Jake's in Chicago. Hi, Jake. Welcome to the Ramsey Show. Hey, thanks for taking my call. Sure, what's up? So my brother and sister have been married for a number of years, and they've been trying very hard to start a family. They've been unsuccessful, and they're now attempting IVF. And I've been the most blessed out of all of us kids financially, and I want to

help them with that financially. And calling to figure out what is the best way to do that from a tax perspective. Last year, I itemized my taxes, so I'd like to have that nice chunk as a write-off, but I also don't want them to, I just want them to have the maximum amount of that sum. Yeah, it won't be a write-off for you because they're not a non-profit. Okay. but you can keep them from being taxed on it or you from getting a gift tax on it a couple of ways um what is your total net worth uh over 300 okay over 300 000 how much money are you talking about giving them 10 000 up to 10 okay it's very easy an individual can give another individual up to 16 000 in this calendar year in 22 without having any gift tax or any problems so if you just write them a check

for 10 grand it's perfectly okay it's not deductible there won't be any gift tax on it and they won't have any income tax on it yeah but you're but it's not deductible how would I go about doing a deductible if I wanted to do that like they have a GoFundMe right now but I know that take a that's not deductible they're not no absolutely not not unless they're associated with us 501 C 3 yeah you've got to have a 501 C 3 you can't run something through GoFfundme and just determine you know i'm raising money for my chihuahuas nail clipping on gofundme and all the other crap that's on there and um you know and suddenly it becomes a tax deductible ministry it's just not um the

only way i could think you could do it is if um you gave it to your church and they gave it to her. But that could fall under directed giving, and it could cause the church a problem in the event of an audit. Honestly, if I'm in your shoes, I wouldn't screw with it. I would just give them the money and not worry about the taxes. Okay. I think you're going to get your – there's too many loops to jump through, too many potential pitfalls with you trying to create a deduction for doing it and just not worry about it.

What if they had some sort of nonprofit that they went through for fundraising? For example, I know like LifeSong for Orphans, we've given to a family who was trying to adopt a child, and they partnered with them. It was kind of like a GoFundMe for that, and that was a 501c3. Yeah, but that's not a GoFundMe. That is a 501c3 that's supporting this family, and you can give money to them.

And so you can give money to the Red Cross, and they give it to a family. That's deductible, okay? But you can't just – GoFundMe is not. GoFundMe is not, no. But you have to be careful. There's a thing the irs calls directed giving where you're trying to create a tax deduction where there really shouldn't be one and you're running it through something like that they'll step on that pretty hard they're really

tough on churches on it and so um you can do it but you have to be just very careful and there's a lot of little fine print and for the deduction on 10 grand it's just not worth it it's not worth it it's not going to save you that much and i i would just help them you've got the money uh just right if it was us now if you want to get super fancy you know like the ramsey family foundation we can give to individuals like we help single moms in situations we'll buy somebody a car or we'll do something like that in different situations or we could do help somebody with an adoption something like that but the foundation is set up as a 501c3 and its charter the way it's put together with the you know the paperwork with the irs allows us to do individual to minister to individuals as well as also give to ministries and so um in our case but that's a super expensive thing.

I mean, we put a lot of money through the foundation every year, and it's all tax deductible. And some of it goes to individuals in situations like that, and it's perfectly legal that way. But for $10,000, it's just not worth the trouble. It might cost you $15,000 to set up a foundation like that in legal fees. So it's just not worth fooling with. You know, it is funny.

Let's expand it just a little bit. We need to say $16,000 an individual can give an individual. So if it's a married couple giving another married couple, for instance, mom and dad passing some money to their kid, a married couple, to buy a house maybe or something like that you can give 16,000 individual to individual so you can pass four times that mom gives son 16 and daughter-in-law 16 dad gives son 16 and daughter-in-law 16 okay and so now we've got what is that 64,000 right four times 16 going you can move without but you have to write four checks be very specific that this is from her to her from her to him and so on and so that if

you get audited then you don't get into a uh a gift tax situation so you can move that much without any taxes as well if you're just trying to avoid gift tax all right up next is going to be jessica in louisville kentucky hi jessica welcome to the ramsey show hi oh my gosh thank you so much for avoid gift tax. All right. Up next is going to be Jessica in Louisville, Kentucky. Hi, Jessica. Welcome to the Ramsey Show. Hi. Oh, my gosh. Thank you so much for taking my call. I am the biggest fan and I listen to you every single day. And my three teenage boys listen to you in the car. And so they're really learning some great stuff, too. But just to keep it brief, my question is, my husband and I are on baby sticks. We are down to the last $25,000 that we owe on the mortgage, and we have been hitting it hard like the last four months.

Gazelle, Intense, cut out all spending, only buying groceries, gas, just the necessities. And so my question is, originally we were going to pay it off June of 2023. We've moved it up to March of 2023, and now that the end is getting to the point where it's in sight. My son the other night asked if we could take him to Nashville at the end of December for the Titans-Cowboys game. And I said, the only way I'm going to Nashville is if I can go see Dave and do our debt-free screen on the stage um so I want to know would it be okay for us to take the remaining money out of our emergency fund um to pay off the mortgage or should we just be patient and pay it off um March 1st like were planning. Well it's not an emergency. No. Okay so we don't we generally use an emergency fund for emergencies right? Absolutely. Okay how much is in your

emergency fund? So right now we have $37,000 in the emergency fund and then like just $6,000 in like a sinking fund for cars so that $37,000, if we did pay off the mortgage, our monthly expenses would be right at $3,000. So if we took that down to like $17,000 or $20,000, we would still have that six months in that emergency fund to cover an expense. Well, if you've got six months in your emergency fund when the smoke clears on this question then you've got an emergency fund that's overfunded right it is and with our mortgage it's it's close to being right it's still a little bit over but like if we take the household income um we're north of $200,000, probably $250,000 with my side hustle. I would use the car money in a heartbeat.

Okay, okay. Well, just to lay by in a car would get the house paid off because you're really focused on the house payoff. I'm willing to do that. And I'm willing to bring the emergency fund down as long as it's not dangerous. I just don't want to invite Murphy. Because when you don't have an emergency fund, you're sending an engraved invitation to crap to come visit you.

Oh, and he's shown up ever since we got really aggressive like we had a $2,700 car repair we had an unexpected water so yeah yeah if you have three of those and then you end up making $200,000 a year with a paid for house and you're broke and can't eat I don't like that plan okay so you gotta you gotta stay above that right but if you're sitting there with 20k and you can still make it and you use the car money, does that sound okay to you? Yeah, absolutely. My first thought is, yeah, what if your roof leaks? What if, you know, the car breaks down on the way to Nashville? There's so many things that could happen. So yeah, you just don't want to go down too close. You don't want to violate where you're below the three to six

months of expenses guideline because you're just asking for crap you know and if you can do it and not get below that then yeah and i'm definitely using the car money that's a no-brainer but i think you're gonna make it i got a feeling i got a feeling you're focused well and you've got such a great income it's like i think if you all pretty aggressive between now and then you got a good shot yeah and by the way we don't recommend it's not our program to be that intense when you're at Baby Step 6, but it's okay if you want to be. This is The Ramsey Show. Are you sick of planned obsolescence?

You know, when companies make products crappy so you have to buy more of their crappy products? Well, me too. And it's why I love companies like Grip6. Grip6 is all about quality products meant to last forever. That's why their comfortable, bulk-free belts, slimline wallets, and lightweight wool socks all come with a lifetime warranty and simple returns and exchanges. So check them out at Grip6.com today and get up to 20% off with the promo code RAMSEY. Christina Ellis Ramsey personality number one best-selling author is my co-host today open

phones at 888-825-5225 Sierra is with us Sierra is in Kansas City hi Sierra how are you hey doing great Just want to give a quick shout out to Austin in the booth. He is awesome. Oh, he's amazing. He's absolutely amazing. He actually runs the company, but we don't tell anybody. I would believe it. How can we help? So my husband and I, we went through financial peace in the end of september um all nine lessons in like nine days perfect and we have been chugging along for two months now we're in baby step two and we've paid off 18 of our total debt so we are fired up boom boom um but looking ahead um our lease is up in april and we're not going to be able to stay here. It's just not going to meet our needs.

And just like you told us in financial peace, we're seeing our credit score dropping, which we expected. But in order to rent in our area, we've got to maintain at least some credit, which I hate. I'm ready to be done with it. No, that's not true. That's not true. Okay. Completely not true. Listen, we had one of our personalities call 10 or 15 of the apartment complexes in our area,

and our area is very similar to yours, and asked them if they required a credit score in order to move in, and only one out of 10 said they did. Requiring a credit score, but what about if our credit score hasn't disappeared yet? Well, I think you just sit down with the manager and you say i've got a low credit score because i'm paying off all my debts and i'm working the dave ramsey plan and they will gladly lease to you with a deposit okay and you know and especially if you're working with an individual landlord that has an individual house that's not a corporation right right yeah if you can't i mean i've got a bunch of houses if you

came to a guy like me and said listen uh yeah you're going to find my credit score 645 but it's not because i have bad credit it's because i'm paying off everything and my credit score is dying i'm trying to kill it we would be going right yes what's the best tenant one that doesn't have any other debt they can pay the rent very very true um so i guess that is definitely probably the best option we had two things that we came up with i wanted to kind of run by you to see what you think okay um so knowing that we're going to be moving in april we were thinking either one going to store mode pile up all the money until we have moved and then just press play and throw

that all in the debt again or why do you need a pile of money to rent we have to get a deposit we have to get all of that kind of stuff together well you gotta you have to plan to be able to do that but i don't know that you need to have like i mean mean, $15,000 or something. Right. I guess I'm still thinking of it like my credit score issue. So you're right. So if I'm not worried about the credit, then it doesn't matter. Do you think, Dave, it would be a good exercise for her to go ahead and start calling apartment complexes today so she can, one, work through their credit score fears, and then, two, figure out exactly

what her her deposit is going to need to be yeah that's good planning and if you know if you've got to stop or slow down your debt snowball in order to have the money to make the move that's fine but now listen what's your current rent uh currently we're renting at 1200 a month okay and so if you go up and rent you're going to slow down your whole life right we're not looking to really go much we're looking to stick around this okay good thing is where we're at in the market what we're paying for is an equivalent to things around us for the same price and we're looking to start a family so we need something better okay that's fine there's no problem with that at all um yeah just as long as you're staying in that same uh price range and yeah but yeah go ahead and start calling some places and look at some

of the newspapers 1500 or you know 1300 bucks or whatever like that and you go okay here's the move i'm gonna make and just call them and shop it like christina said and that helps you put your budget together well they may say you know you need two months as a deposit and then you have that clarity you set aside 24-25 hundred dollars and then you continue with the debt snowball because I love how aggressive you've been the fact that you've already tore through 18 percent is amazing and I don't want you to lose that momentum just holding on to the money kind of getting complacent and waiting all the way till April. I think you guys can, you know, set aside the deposit and then continue with, you know, so much fire in your belly that you don't slow that down. Okay. So we have a reality. The reality

is the move and let's let facts be our friends, not theory and hyperbole and drama. Yeah, that makes sense. And that's kind of my biggest fear is i don't want to lose the momentum that we have going because we are on fire yeah don't don't oversteer don't over correct to make the move in other words and and so we're going to shut down and then we have seventeen thousand dollars and we needed four thousand to make the move no that would be silly that's oversteering right uh but if you need if you do a little bit of research you figure we need three thousand we need thirty eight hundred bucks to make this move and then we're going to get our deposit back and when we move and we get that deposit back we'll throw it at the debt um you

know we just play a little cash game here with hide the p under the shell and uh you know then that that's just good planning but the unknown sometimes makes us oversteer and go into drama mode right and drama mode can stop that momentum i love that you called because you can hear it in your voice you are on fire it gets me fired up just hearing you talk so get it get it yeah get it well done amy's in sacramento hi amy how are you amy hello sorry about that yeah sorry about that. That's okay. How are you? Thank you so much for taking my call. I really appreciate it. I'm new to the baby residency steps, and I wish I knew about this a month before I bought my house.

So my question is, did I buy my house on an emotional level, and should I have stepped back? So my question now is, do I gracefully determine how to get out of this house or do I make peace with myself and plan to save so that I eventually can stay here for quite a while? So what emotions were you feeling when you bought the house? So about seven months ago, my husband died and I have three children. One is 20, the other is 817 and one is 11. And so I was feeling all kinds of feelings and it's been a little bit hard dealing with everything going on.

The other rationale is we were also separated for about three years, and it was not an amicable, and my divorce was never finalized, but I felt like, you know, I definitely need to find stability for my three children. I want to make sure that all the changes that's going on since the divorce, and then especially now, that they're attending the same school, the same district, and just have a stable home because I was renting after I separated. Amy, I'm so sorry what you've been through. I'm so sorry. Thank you.

What did you pay for the house? I did pay for the house. I said, what did you pay for it? How much? It was like $765,000. Okay. And what did you, did you get a mortgage or use life insurance or how did you pay for it? So he had no life insurance.

I've always been the breadwinner my entire life. And when we separated, I paid alimony and child support as well um so that's the other rationale for why i felt like i'm i'm i'm not questioning right i'm just trying to figure out the math okay sure there's a lot of reasons that are valid for you to have emotion around this so um what is your payment on your house? Right now I'm paying, well, December 1 will be my very first payment. I'm paying right about 5K a month. $5,000 a month, and what is your income? Currently I make about 120K. Okay. Now, honey, honey, you have other income coming in?

Yes. I was just about to mention I have Social Security and a small pension from him. That amounts to how much? About $4,500 a month. Okay, so your take-home pay is about $12,000, right? With all this? With all this? Yes. Yeah. Yes. Okay. is about $12,000, right? Like, after taxes? With all this? Yes.

Yeah? Yes. Okay. Your house payment is very high. Yes. It's very high. I'm so sorry you're in this situation. I'm so sorry how you got here.

But regardless of how you got there or what your motives were or reasons for getting there, your house payment is very high. And you know that and that's why you called. So I don't want to add pain to a life that's full of pain already, but I want you to really look at that and begin thinking about it. so Christina Ellis, Ramsey Personality. Number one best-selling author is my co-host today. Our question of the day comes from Blinds.com. They have a 100% satisfaction guarantee. That means even if you mismeasure, you pick the wrong color,

they'll remake your blinds for free. Free samples, free shipping, and new promos all the time. If you want a great deal, use the promo code Ramsey at blinds.com. Today's question comes from Brian in Nebraska. My wife and I live in Nebraska. She's graduating from dental school, and we are expecting our first child in May as well. The only debt we will have is a combined $300,000 in student loan debt once she is done with school and a mortgage of $180,000 with $40,000 to $60,000 in equity. I currently make $62,000 a year as an architect. She has a job offer in Memphis, Tennessee to teach as a professor for $160,000 or work in Nebraska for $100,000 to $125,000 a year? Do we move to Memphis, Tennessee with a newborn

where she can make more money and we can sell the house to put our equity to pay our student loans or stay in Nebraska to continue paying down debt and have a community that is able to help with the baby? Well, the first thing that struck me is only $ hundred thousand dollars we only have three hundred thousand it's not five hundred thousand it's only three hundred

oh my god the other thing that's interesting to me is she's graduating from dental school which that seems to be where the debt's coming from but then she's going to be a professor well there's a dental college in memphis okay i'd be teaching dentistry but do you think it's better to to start out being a dentist and get real world experience before teaching it's obviously not necessary i mean how many professors did you have that had real world experience doing anything except being a professor i mean that seems like the best route i also just wonder too like if she became an actual dentist could she make more money and knock that debt out quicker? He's saying she's got $125,000.

Really, first year out, $105,000 on dentist is about right. I'm a little shocked at how high the professor's score is. That's a pretty score. $160,000. And the question is, too, okay, so if you move down there and you don't make at least $62,000, this is not an upgrade. Yep. He's got to get a job making $62 more as an architect in memphis well that that also seems a little low for an architect right does yeah ah yeah there's a lot of questions on this yeah so all right let's just let's throw

some assumptions on there so we can answer it let's say say that you moved to Memphis and you made 80 as an architect and she made 160, okay? And you live there three or four or five years and you clean up your dadgum mess that you've made. Only 300,000 in debt, right? Did he say how much equity in that? 40 to 60 in equity. Yeah, not much.

Okay, so that's not going to move the needle. The big thing that moves the needle is the income difference. Or we change jobs as an architect in Nebraska and make more money, and she gets a better job than she's been offered so far as a dentist and makes 150 in nebraska if she can make 150 and he can make 80 and you hate the idea of memphis yeah instead of nebraska then i would stay and it takes you another what six months to a year to get out of debt yeah you know if you do that um but i you you seem to be underpaid

right for your i mean if you have a four-year degree in architecture and you're making 62 i got a problem okay period let's just say that number two 125 is a little low but not super bad for first time out of the gate dentist that's not bad at all um i i kind of think i'm hearing down under that last sentence, I have community that's able to help with a baby. Do I move away from everything that I know? My family, my roots, my church? Well, and another factor to consider is the fact that, like,

I don't know what that community is going to do, like how much they're going to help, but there's daycare costs as well. If you moved to Memphis, maybe in Nebraska you have a grandma who's planning on taking care of the baby, and in Memphis you're going to have to pay for full-time daycare costs as well. If you moved to Memphis, maybe in Nebraska you have a grandma who's planning on taking care of the baby. And in Memphis you're going to have to pay for full-time daycare. So even in that equation, just making sure to factor in child care costs. You've got to run that in there too. So if you maximized your income in both locations, it sounds like Memphis gets you out of debt a year sooner.

No one says you have to live there the rest of your life. It sounds like Memphis gets you out of debt a year sooner. No one says you have to live there the rest of your life. It's not required. You could go work there three or four years and then move back to Nebraska. That would be fine if you hate it. You could look at it as an adventure. You know, it's not a permanent decision forever and ever. I mean, you could look at it as an adventure and go do that. Like, for for instance these people that are contractors with the military and they go to dubai for a year and make 6x what they would have made in the states and pay off everything and they basically give up a year and they have a little adventure in dubai and go do it and you know or whatever and there's uh in the sandbox one way or another. And there's people doing that.

But it's a matter of looking at it. I think that I'm going to be away from community and everything that I know has a rest of your life feel to it that isn't required. As far as I know, you can still, they still allow you to leave Memphis once you move there. True. I mean, but I'm also thinking like personally, she is graduating from dental school. So there's going to be a huge life change just in going from being a full-time student to working. And then she just had a baby.

She's got a newborn. So even just, man, the first year postpartum, I would not have been super excited about an adventure across country and moving away from family. So there's also just the emotional aspect of like, what does she really want? Like, what is her capacity? What is she? We're going to Minneapolis tomorrow night. Okay.

And I've got friends that grew up in Minneapolis. They were born and bred there. Everything they knew was there. And at 50 something years old they said i'm tired of being cold i'm leaving and they moved to nashville and they live down the street from us you know and they're they're sweet people they go back to minneapolis occasionally see their friends but they were tired of it and you may be tired of nebraska i don't know but it doesn't say that here what seems to be

between the lines here is you would hate leaving Nebraska and the only reason you'd be doing it would be for a little extra money and I would challenge you instead to go maximize your incomes where you are and stay 100 yeah and if it takes you one year longer to get out of debt by doing that but don't stay there and make 62 and 100 which is more than she which is all she could have made that much by herself because you two both minimize the crap if you make 60 and she makes 100 that's 162 she got an opportunity to make 160 by herself in memphis that's not okay so if you're gonna stay stay in Nebraska, you need to go up your game somewhat. It doesn't have to be as high as the Memphis.

And the Memphis deal does not work at all, dude, if you don't get an architectural job there making more than you make now. Right. Well, and I'd also be curious about cost of living. Like it seems like, I mean, I'm not super familiar with Nebraska, but it seems like it'd be cheaper to live there versus in Memphis. Probably, but Memphis is not that high. But also just make sure to compare that because even the equity you have in your house, $40,000 to $60,000, it's not that much money.

And so just make sure you compare just the cost of living, the cost of daycare, all of that, and factor all that into consideration. So here's a mistake that people make in their logic on this, and this is the subject in general. Do I move for a job? It's as if they're doing, am I doing something wrong if I don't take a job in a place I hate because it pays more? No, you're not. Careers are personal things. Personal finance is first personal, and then it's finance and so

you know if you i'll give you an example okay people told us with the with the dave ramsey show in the old days that it will never be a big radio show if we don't move to la or new york and i'm like i like visiting la or new y for about 48 hours, and then I'm ready to leave. The chances of me living there is precisely zero. And if that means that the Dave Ramsey show is never a big deal because I refuse to locate in one of those two cities, then it won't be. Now, it turns out that we're the second largest talk radio in America today. So those people that said that didn't know what they were talking about. Thank goodness.

But I made the choice. Quality of life. Nashville versus those two places? Oh, dadgum. No question. I'm chuckling a little bit inside trying to picture you living in L.A. or New York, bringing Redneck Radio to the big city. Well, we broadcast in both of them.

Thank you very much. But, you know, matter of fact, highly rated in both of them. So it's working. You still won. Here we go. Golly, you and your redneck jokes today. I'm going to come up with some Venezuelan jokes or something here. Bring it.

Bring it. Bring it. This is The Ramsey Show. Dave here. You can find all of our shows with the Ramsey Network app on your smartphone. It's the only place to listen to the entire back catalog of episodes. Download the

Ramsey Network app in your favorite app store today.