The Ramsey Show - App - Why You Should Only Invest in What You Understand (Hour 2)

Episode Date: December 7, 2022

Dave Ramsey & Kristina Ellis discuss: Investing in what you understand, The student loan forgiveness debacle continues, Why owning a home can be a curse rather than a blessing if you're not ready to buy, Looking for a job, How to get started building wealth. 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 Studios, it's the Ramsey Show, where debt is done, cash is king, and the paid off home mortgage has taken the place of the BMW as the status symbol of choice. We help people build wealth, do work that they love, and create actual amazing relationships. Christina Ellis Ramsey Personality is my co-host today. Open phones at 888-825-5225.

Melissa in Texas starts off this hour. Hi, Melissa. Welcome to the Ramsey Show. Hi, Dave. I'm excited to be on your show. I listen to you a lot when I'm in the tractor. Well, thank you. Great.

Better than we deserve. Merry Christmas to you. Thank you. I have an investment question. Okay. You say, stay with what you know. Well, the only stock I know anything about is livestock we have uh what i would consider to be a small beef operation and um then we do my husband and i do hoof trimming uh as a like a real job so we're recently got our we have our land our house

we're debt-free very recently we got our tractors and everything paid off hoof trimming is very it's it's a cattle hoof trimming job. So it's very labor intensive and we're in our 50s. So our longevity is, you know, maybe another five or six years doing that. So we're looking to really hunker down and put some money somewhere else. We're technically millionaires, but most of it is in real estate that we want to stay in ag. We want to leave it to our kids. They want to farm it, and we want it to stay in farmland. So we don't want to have to sell it to live on.

We're not looking to retire. We don't want to retire. And you're 100% debt-free. Yes, sir. And your taxable income this year will be about what? 55 to 65, depending on how the cattle business runs. Okay. All right.

Well, we would tell you to put as much as you can towards retirement, and you misquoted me. You said, I say to put money in what you know. I say don't put money in something unless you understand it. But just because you don't know about something doesn't mean you can't go learn about something. It makes a great livestock joke. That was a great line. I loved it.

But you need to go sit down with a good smart investor pro with the heart of a teacher and start to learn enough about mutual funds from pro with the heart of a teacher and start to learn enough about mutual funds from someone with the heart of a teacher that you get comfortable doing some good mutual funds and both of you need to open up roth iras right now okay and then you need to do more than that probably but it lets at least start with two roth iras okay well and the beautiful thing is you're gonna have three we have three rentals that we've paid off over the years too okay good come in but good i mean those well one of them we don't want sold it's on the farmland but i'm not suggesting you sell them but you do need to get top dollar rental

out of them and manage them all the way to the wall right yes sir i just wondering if that's what we should if we should throw our money try to you know two roth iras only 16 000 a year 16 a year yeah that's not it's 8 000 bucks a piece for you too it's not it's not gonna that's not gonna keep you from getting a rental okay i'm not gonna tell you to go into debt to go get more rentals and i don't you don't have any money right now much, so I don't think you're going to be buying a rental anytime soon. But let's get you a couple Roth IRAs started, because I'd love for you to look up in 10, 15 years and have $200,000 or $300,000 just in those.

Okay. And you could live off of that money without having to cash out any of the acreage. Okay. And I know it feels overwhelming because, like you're saying, you don't know this area in this space, but the amount you're going to need to learn is not a lot when you sit down with a smart investor. You need to have somebody who has the heart of a teacher, but they're going to really walk this through you. So some of that intimidation factor, once you sit down with them, that's going

to go down. And you don't need to become an investment professional yourself. You don't need to understand exactly how all the details of the stock market work. You just need to figure out, you know, the best strategy for your money. Well, you got to understand the basics of what you're putting your money in. So that if you hear something on the news, it doesn't freak you out. And that's why I always say don't put money in something you don't understand. Because if you do it because I said do it, or Christina said do it, or some investment professional said do it, the first time it goes sideways, you're a little bit, you're going to go bananas. But if you know what's going on and you understand the history of the market,

you understand the history of what you're doing, then it doesn't add stress. It lowers stress. So knowledge is what keeps the stress away. Knowledge is what keeps the panic away. Well, what's interesting, I think right now, for some reason, real estate and being a landlord seems easier to a lot of people. It seems like that's going to be the lower stress way. But like we heard in a debt-free scream earlier, like we've heard in some of these calls,

there's a lot of stress to that. That is not necessarily the easiest way, even if it seems easier because it's a piece of property that's on your land or it's something that seems a little bit more familiar. Well, real estate, a good paid-for rental house, if you purchased it properly and you manage it properly, will make you more than mutual funds will make you. But it's also about 10 to 20x more hassle. I mean, with mutual funds, all you got to do is open up a computer and click. With rental property, you got to deal with the heat and air guy. You've got to deal with the water heater going out, the leaky roof. You've got to deal with the tenant that's brought in 17 cats into your house,

and the only way to get the cat smell out is burn the house down. I mean, you've got to deal with all this stuff. And that's a whole different thing than just opening a computer. And so you don't make as much on mutual funds, but you have nowhere near the hassle. So I I believe and I personally have a lot of both but I'm willing as a landlord and able as a landlord for 30 almost 40 years now managing my own properties and with Rachel's husband Winston running that part of our company to to take on that stress and deal with that, the part of that. But there's a hassle factor involved that you're exactly right.

Dave, I feel like you probably have some good landlord horror stories. Oh, way too many. Do you have one that comes to mind immediately? Well, I mean, it's just the thing it's usually got to do with someone that didn't believe us when we said you have to pay your rent. You know, I mean, it's like, what? And, you know, we're like, no, if you don't pay your rent, you have to leave. Oh, here's another one.

We went up on the rent because the rental market went up. And so now we're not Christians. Because Christians can't go up on the rent. You know, what kind of horse crap is that? That's absolutely ridiculous. and so now we're not Christians. Ouch. Because Christians can't go up on the rent. What kind of horse crap is that? That's absolutely ridiculous. It's just dumber than a rock. I was wondering if this – It's like not Christian to charge a market rate.

Of course it's Christian to charge a market rate. You charge a market rate for your employer when they pay you to work there, and if you don't get paid enough, you go work somewhere else. That's not unchristian that's just managing your life well but yeah that's the kind of landlord stuff you get you get everything in the world you get all this emotion and all this drama and all these other things in the residential properties now the commercial properties are a lot easier i was wondering if the 17 cat story was real yeah i mean i've had them yeah i mean I've had them. Yeah. I mean, we've had them. We have a no pet policy. We love

we love dogs and don't love cats, but we don't even allow them to have dogs. I mean, because they just tear up everything. Yeah. So we've got a no pet policy. And sometimes they just choose to not abide by that, which means they choose to leave. I was hoping for something juicy, Dave. It's not that juicy. It's just drama. This is The Ramsey Show. christina ellis ramsey personality is my co-host today open phones at triple88-825-5225. Nine million Americans were wrongly told they were approved for student loan forgiveness. CBS News reporting about nine million Americans with student loans who had applied for Biden administration's student debt relief program mistakenly received emails last month that said their applications have been approved. The messages were part of updates the Department of Education issued in November to inform 16 million debt relief applicants they've been

approved to have up to $20,000 forgiven, but an additional 9 million people received emails saying they received loan forgiveness when they had not been approved for relief because the process was halted due to legal challenges. And others who hadn't yet applied for the student loan relief program also received the email. The error was made by the Federal Services, a contractor for the Education Department, which sent the emails. The mistake may only compound confusion among some borrowers about the debt relief program, which for now remains in limbo due to several

legal challenges, with the Supreme Court earlier this month agreeing to hear one of the cases in February. I saw this yesterday, and this just annoys me. Come on, there's enough confusion around this already. Nine million people getting an email saying they've been approved. Why were there even emails sent out in the first place saying they've been approved when this hasn't passed? This program hasn't passed. It's not in action. Why were 16 million people quote unquote approved when they haven't actually been approved? The program hasn't been approved. Well, Biden had approved it and he had issued the um the announcement uh but none of the systems were in place to cause the approvals to actually

happen and knowing that there were legal challenges uh to his program which may yet need a congressional approval we don't't know. We'll see. Lots of stuff up in the air. But given all of that, this is just, again, it's a political play. They accidentally told 50% more people that they had approval than did. Accidentally. Accidentally. so at a minimum we have a level of incompetence that is only tolerated at the federal government level um i mean this level of incompetence i mean if ramsey solutions sent out an email to and and to to 50 percent more people than we were

supposed to telling them we were going to give them money. I mean, can you imagine? Can you imagine? Yeah. I mean, that level of incompetence in the business world, how we would have reacted to the people internally that did that. Right. It would be a train wreck. Yeah. And instead they went, oh, oops. Well, and I think that's what's so crazy is, you know, the 16 million people who got the email that was, you know, supposedly correct. And then they're sending out these refund checks. How do they know the difference about what's going on? You don't.

You don't. You can't tell because you don't know if you're got one of the real emails or one of the ones that was wrong. But even if they got the real email and then they got the refund check. There's still no forgiveness because it's not been gotten through the court system right so even if like the semantics of the timeline of like this 16 million were before the court order and then this nine millions after right now the reality is the program hasn't passed like right now it is still in limbo there is no guarantee right now that student loan forgiveness is going to happen it might none but there's not a guarantee no guarantee none whatsoever and um but i mean this is at a minimum a gross level of incompetence or if you want to be more cynical you could go well

they did this on purpose what do you think dave did they do this on purpose it's too large to be an oopsie. I mean, if you said, okay, 16 million and we sent out 1 million as an oops. Okay. But 9 million? You know the effort it takes to get 9 million emails out? That's not a, you know, one little guy with two keystrokes that's not how that works i feel like okay so dave people have been asking me do you think that there is any chance this program is going to be approved and i know a lot of people have strong opinions that they feel like

there's no way that it's going to be approved but i kind of feel like we have a government that is so obsessed with debt that they've literally led us trillions of dollars into debt they've made moves like this i mean i could see it going both ways in the sense of like they're not afraid to put us more in debt there's you know there's so many things have happened uh in all areas of our society in the last 10 years that I thought would never happen in my life. So what do I know? I certainly wish it was not going to be approved. And I don't think it's going to be anytime soon. that if you've got $25,000 in student loan debt and $10,000 of it goes away with this,

that I'm 100% sure you will not hate yourself for just going and paying off your debt. Because it is your debt. There's that key part of it, too. So you clean up your life and you don't wait on the government to fix your life. I can't really figure out what the flip they're going to do. It's the island of misfit toys. You don't know where they're going to fix your life. I can't really figure out what the flip they're going to do. It's the island of misfit toys. You don't know where they're going to come from next. You know, they're playing politics with it for sure.

But under there somewhere is also the belief that they should actually do this at some point. And so I don't know how long they got to wear out the court system or they got to run it through Congress. What has to happen? But oh, my gosh. I feel like for me, I'm you know, if it gets approved and people get their loans forgiven, I will cheer for the people who are out of debt. I will cheer for the people who had their debt

reduced. What scares me though is what is happening with kind of the trickery and confusing people. And that's where I'm like, go ahead and pay off your loans now because that is the thing you can do to control the situation. This is so up in the air. I think this is really confusing a whole generation on what the responsibility is with debt and what they need to do to get control of their finances. So, man, it just breaks my heart what's happening, because I've seen the pain in people's voices when they're like, man, I thought I was debt-free. I was counting on this $20,000 in student loan forgiveness. I'm a Pell Grant recipient. And then they're like, wait, wait, what?

Am I debt free or am I not? And that's just sad. You can get debt free regardless. This is what happens when you wait on the government to fix your life. All right. Up next is going to be Trevor in Washington, D.C. Hi, Trevor. Welcome to The Ramsey Show.

Hey, how's it going? Thank you for taking my call. Sure. What's up? I figure I'll just give a quick little background in my question, then we can go from there. Does that sound good? Sure. Cool. So I'm 23 years old, and I make $75,000 a year. I have $6,000 of debt and about $4,000 in the bank. So I'm halfway through a lease. I lived with my parents up until I was 22. The situation that had been occurring repeatedly kept happening in my house and made it unsafe for me to live there. So I did a very, it's a financially dumb thing, but I felt like it was what I had to do at the time.

I just looked for the closest apartment that would get me out. So I'm paying $2,000 a month to live here, and it makes me sick every time I have to pay that. And I'm not going to have a ton saved up when my lease is up in six months. I'm kind of just looking for some advice on what some next steps could be. Why don't you find a more affordable rental? Yeah, so that's one of my things. on what some next steps could be. Why don't you find a more affordable rental? Yeah, so that's one of my things, but I've also just been thinking that I know that buying a house is a smart way to go.

You're broke. Yeah. You don't need to buy a house when you're broke. It's not a smart way to go. I guess the way that I was thinking about it, it seems silly to me to have to pay rent while also saving for a house. But I guess that's silly for you to buy a house when you're broke because Murphy will move in your spare bedroom. Everything on the stupid house will break and you'll look up your $60,000 in debt

trying to keep a freaking house running. Owning a home is not necessarily cheaper than renting. As a matter of fact, it's oftentimes not cheaper than renting. On the long haul the fact that it goes up in value and grows tax-free on your personal residence up to a half million dollars married filing jointly it is a good investment and we believe in home ownership but no i would not tell you to go buy a house right now what you need to do is go find a really really cheap rental you bought this rent you went and picked out a rental you couldn't afford because you were emotional. Now you're the other side of that crisis. Hey, Trevor, stay on the line. We're going to gift you Financial Peace University on us.

We want you to walk through this so you can get the very clear path for you. The Christina Ellis, number one best-selling author, Ramsey personality, is my co-host today. Jeff is with us in North Carolina. Hi, Jeff. Welcome to The Ramsey Show. Hi, Dave. Thanks for your time. Sure. How can we help? So my wife and I did your financial teaching university class around two years ago, and it was an absolute phenomenal class. My wife ended up quitting her job around the same time, and we paid off way more debt with one income than we ever did with two. And we've been a single income family for the past two years, and we were doing quite well on baby step number two. We've had some unfortunate

things kind of happen, and we kind of turned into the ish pig, and we're back down to step one, and we're trying to get gazelle intense again and kind of watch your opinion on some guidance on what would be the best route. We've been working with the law firm to try to get my wife approved for disability. She does have some medical conditions and she was denied once, but they did state that she was partially disabled. So we're debating whether continuing down that route is the best route, or she's talked about going back to work to get a part-time job, possibly with still being able to take care of the kids before and after school, or whether it would be better for her to go back to college for some kind of associate's degree. So we're just kind of debating on which route would possibly have the best benefit long term.

I was kind of hoping you could give your insight or your opinion on which one would potentially be a good route to try to continue to go towards. I feel like there's a bit more of the situation. So originally when she quit her job, did she quit to stay home with the kids? Her mother was on hospice. Her mother had passed away, and it was really the only way she was able to spend time with her mom. And so she had left her job, and she was a stay-at-home mom. And after she was working a full-time job, and we were paying for daycare costs, and the amount of money she was bringing home after the amount of daycare money we were paying, it was just, I get a good amount of opportunities for overtime in my job. So for the past two years, it's just been more cost-effective for me to consistently work overtime to help compensate that lack of income.

How does that make her disabled? She has a medical condition called ankylosis spondylitis. It's labeled as an autoimmune disease, and it's inflammation of the spine. So when you look at her spine, it's not aligned properly in her pelvis. But not one time in this discussion did you say she quit work because she was disabled. It was all other reasons she quit work. Correct. She definitely had limitations.

She enjoyed working, and she enjoys being a stay-at-home mom. She definitely, we've been debating on what is the best. Our family life has definitely enjoyed the benefits of having my wife home, taking care of the kids, and we've enjoyed that opportunity. What does she want to do? We're both kind of 50-50. She enjoyed working, but she enjoys being able to spend time with our kids every single day. So it's really kind of just coming down to money-wise what is the best choice um when i work overtime

i typically make a little over 30 an hour in overtime i mean money if you just want more money it always is going to involve more work what can she handle if you say money-wise money-wise it's always going to be yeah work but if you're saying i'm willing to trade off and i'll work overtime so she can be home with the kids then that's cool too but you you know if you're only making the decision on money then you which is a bad way of doing it but if you're only saying money wise then you would always go to more work but there's there's an end to that so you know i you know based on her uh physical limitations and her desire to be home um it doesn't sound like she's going to be doing a lot of work

yeah um yes that's definitely correct i mean i wasn't sure if it would even the thought of maybe going back to school for some kind of associate's degree would... But only if she wants to work. Yeah, which... And right now she's partially disabled and 100% wants to be home with the kids. The only reason this is on the table is more money. Correct. I mean, right now, this time, we definitely kind of had ups and downs financially. What do you make?

We're trying to get gazelle and tents. About $50,000 a year without overtime. And how much debt have you got, not counting your house? We just actually sold our house, and we moved from Virginia to North Carolina to kind of do a restart to pay off. We had about $20,000 in debt, so right now we're pretty much down to zero. We decreased our monthly expenses by $1,000. Not pretty much. You are. You don,000 in debt. So right now we're pretty much down to zero. We decreased our monthly expenses. Not pretty much. You don't have any debt. Correct. Okay. So you're debt-free,

you're renting, and you make $50,000 a year. Correct. Good. Okay. Do you feel like y'all are still living ish? Yes, absolutely. We absolutely were absolutely were doing this we've definitely within the past month we've been trying to do our family budget meetings every two weeks um we do kind of google expel google excel spreadsheets you know to kind of make sure we're budgeting down to the dollar um we definitely weren't doing that and we definitely were ish and that's definitely i'm going to get the every dollar app it's a thousand times better than stupid google yeah we did the family when we when we did it it was um your class financial peace university every dollar app was phenomenal yeah well you get go get the app it's free

and you can run the basic budget on it. If you're part of Financial Peace, you can do the expanded version and tie it to your bank and all that, but the Google spreadsheets suck. I wouldn't do that. So, I mean, just do something. And so here's the thing. You guys need to make a list of the things that, and then force rank their importance, okay? Thing one, we're no longer ish, we're going to be hardcore managing money.

Thing two, the pain, the physical pain and discomfort associated with disability. Thing three, I want to spend time with the kids in your wife's voice thing four i want to go back to school and have a new career thing five we want to save towards a house you cannot do all of these at one time you cannot address the disability stay home with the kids and work and go to school and expand she cannot do it you need to pick one and you need to go with that one for now and you need to and say so it sounds something like this okay in order for her to be at home you are working overtime and you are going to stick to a freaking budget like your life depended on it. Right.

Or she's going back to school, I'm going to have a big career, and I'm not going to whine about not being with the kids all the time, or about my disability, or, you know, whatever. But let's pick a plan and go all in on that plan that is a sustainable plan mathematically well and she could go get more work but if you're living ish it's not even going to feel like no it's making more money it's her income is not the problem right it's it's that you guys are not you're trying to do 73 things at once. There's like you've got to force rank this stuff and go, okay, I'm willing to pay a price to be at home with the kids. Or, you know, it's inconvenient, but for right now,

I want to make more money and get us back into a house in our new place in North Carolina. So for right now, for this season, I'm going to work like a crazy person, both of you. In all of these scenarios, you're going to work like a crazy person both of you in all of these scenarios you're going to get on your stinking budget and stick to it because it's what takes you to where you want to go it's the vehicle it's the it's the the car that's taking you to your destination is the budget and it's the indication of whether or not you're half butt doing this stuff or not and uh you gotta have to go okay not you're half butt doing this stuff or not. And you've got to have to go, okay, because you cannot half butt do this stuff,

her stay at home, and you guys, it's not sustainable. Well, and if she goes back to work and she's dealing with the pain associated with that disability, I don't want your money to just be flying out the window. If she's willing to work and deal with all that, I want you all to actually see progress from that. Yeah, you really got to kind of, you need to turn TV off, put the kids to bed, and really kind of write these things down and force rank them.

This is the most important one. This is the second most important one. The fifth and sixth ones, you're not going to get to do right now. You don't have the bandwidth. No one does. This is the Ramsey personality is our co-host today. Open phones at 888-825-5225.

We're in the holiday season where our brains are focused on buying presents and decorating our homes and all the Christmas and New Year's celebrations. And then all of a sudden, it's January. And in some people's cases, they wake up in January with a financial hangover. And in other cases, it's just the chance to start fresh, and you recommit to no longer being ish. Set yourself up to start the new year strong by joining us for one of our wealth-building live events. The first one is here in Nashville on January the 12th. It's a one-night event, and it'll help you kick off 2023 feeling confident about your money,

even in this crazy economy. Join me and all the Ramsey personalities as we walk you through a simple but proven plan to get on track and build wealth even in this weird inflation recession crap going on it is possible we just wrapped up and sold out our fall season we had a sold out spring season before that this spring will sell out as well it hasn't yet though you can still get tickets again we're kicking it off here in the Ramsey headquarters, January the 12th in Nashville. February the 16th

is Indianapolis. February the 23rd is Austin. Salt Lake City is April the 24th, and Anaheim is May the 2nd. Passes right now are $49. They will go on up after the first of the year. Tickets for these events always sell out early, and make sure you go ahead and get your seats now.

By the way, $49 makes a great stocking stuffer for some of you. The Building Wealth Live Tour. Get your tickets. RamseySolutions.com slash events. Danielle is in Biloxi, Mississippi. Hi, Danielle. How are you? Hey, I'm good.

How are you? Better than I deserve. What's up? I have a question. My husband and I have been married for nine years, and we've handled our finances pretty terribly, and we've kind of been having a moment of reckoning. We've been looking into trying to start budgeting,

but we've kind of gotten ourselves in such a bind that to start budgeting, we're not really sure how to. There's not a lot left out of each check to be able to put back. Got a log jam. How do we start? Yeah. What's your household income? It depends. He works a lot of overtime.

He makes $28,000 an hour. So give or take, he brings home about $1,100-ish a week. So he's making $50,000, $60,000 a year take-home pay, so making $80,000. And you are at home with the ghettos? Yes, sir. I have three little girls. Okay. What age?

They are eight. My middle one will be six in about three weeks, and I have a one-year-old. And how much debt do you have, not counting your house? Not counting our house, it's around $26,000, give or take. On what? give or take on what vehicle included a lot of credit cards that and our vehicle and one or two loans what are you on the car about 9200 ish other cars paid for no sir we owe about nine i said the other car is paid for oh yes sir my husband's little truck

is paid for okay good and you said that he's got he's been working quite a bit of overtime how many hours has he been doing a week um he's putting in around 60 plus hours a week okay it's about 20 over so does he seem pretty maxed out in his ability to work any extra yeah yeah he's exhausted i mean he's still plugging along but i don't know how to help i want to know how to help him and you know i can't go work outside of the home with three kids by the time you know i don't really have any skills we're we're christians we believe in life staying home with the children and i don't really have any skills as far as being in the workforce. But even if I did find a job, all I would go to daycare.

Do you all rent or own your home right now? We're paying a mortgage right now. Okay, and how much is that a month? $9.75. Okay. All right, there's nothing in this math that you gave us that screams stupid. Okay. All right. There's nothing in this math that you gave us that screams stupid. Okay. Okay.

But what you are, you're dying death by a thousand cuts. It's a lot of little stuff. Right. But sometimes when I talk to someone in your situation, you know, they got a $32,000 car. Okay. And if you had a $32,000 car, that would scream stupid. Okay. And I'd be going to sell your stupid car. Okay. You have a $9,000 car that that would scream stupid okay and I'd be going to sell your

stupid car okay you have a $9,000 car that's not that's not crazy it's you got to get rid of the debt you can't breathe and life's not good I'm not discounting that situation but I don't see a single item that if I pull that lever it changes things quickly you don't have a single item because you got a lot of little ones. Does that make sense? Right. Yes, sir. So what that ends up telling me is a couple of things. One is the two of you resetting your minds and committing to we are going to manage money instead of it managing us.

Yes, sir. There's kind of a roar like, ah, I am so freaking tired of this that we are not going out to eat we are not going on vacation we are selling so much stuff the kids think they're next and we're gonna do the written budget and we're gonna stick to it and we're not going to buy crap on the internet or crap at costco or crap in the mall and you kind of got to get mad you hear what i'm saying yeah my husband's kind of reached that place he is so tired of working so hard yeah like there's but you got to reach it you got to reach it because you're the full-time home economist yeah right yeah which means pinching these pennies consignment sale clothes our kids at the ramsey house grew up in

experienced clothing okay right so i mean and then they went to college debt free okay and and and now they're grown-ups and none of them are in counseling due to the clothing that they didn't get. So, you know, so I mean the stuff that we all do in America and, and Danielle, you are not doing anything dramatically stupid, but you're doing a lot of little tiny stupid things that are killing y'all. Right. That's exactly right. And that's, that, that's going to be where you can give your husband a

back rub by saying i'm going to make i'm going to be the coupon queen i'm going to cook from scratch and save money i'm not going to whine about going out to eat or going on vacation or whatever and we're going to start punching this stuff in the face and i'm emotionally going to carry 60 of this uh this crusade that your family's getting ready to go on to get your life back right because your credit card debt was just when you got disorganized, sloppy, and lazy. Yes, it was the worst thing we ever did was to get a credit card. Yep, but I mean, it's just, you did not do a single thing with credit cards that was silly.

You did lots of little things. Right. And by the way, that makes you kind of normal, but normal sucks. We don't want to be normal anymore. It's not fun. Right. All right. So then he's going to be more energized because he's going to start seeing traction from his hard work and he can work he can

work 70 instead of 60 for a short period of time because right now he thinks he's going to have to do this his whole life and i'm saying he's going to have to do this for two years. I can do anything for two years, but I can't do it for 20. Right. And so right now he feels like a rat in a wheel because you're, he's working all the time and getting nowhere. Right. But if we're getting, if we're working all the time and we're making traction and we got rid of

that credit card, then we got rid of that credit card. Then we got rid of that credit card. And now we got the car off and God think about what it'd be like to have no payments but a house payment around your place it'd be wonderful yeah i mean lord jesus this would be fun this would be good well danielle if you if you want to work if you want to contribute financially i wouldn't write off your ability you know to figure that out there's a lot of moms who watch an extra kid or two in order to get a little extra income so i mean dog walk for the neighbor i mean

and and involve the kids in it you can do all kinds of crap that's that's 20 and 30 bucks an hour uh and do 10 of those things a week you know and never be away from your kids you know you can do all that while they're at school. So you're perfect. We think people like you are awesome because you are ready. That's why I'm excited for you. That's where all this volume is coming from. So you hold on. We're going to put you through Financial Peace University, you and your husband.

It's a nine-lesson class. You hang on. We're going to pay for it. And I want you to call me back. And when you're scared and when you're beat up and when you don't know what to do, we're going to cheer you on. And then when you finally make it, we're going to do a debt-free scream together. So you hang on the line. Austin's going to pick up.

We're going to take care of you, kiddo. 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.