The Ramsey Show - App - Will Buying Gold Protect Against Inflation? (Hour 2)

Episode Date: March 23, 2022

Dave Ramsey & George Kamel discuss: Why you shouldn't invest in gold even when the world goes crazy, When it makes sense to file bankruptcy (almost never), Scott Harrison's charity:water organization and how they are redefining charities. 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

Live from the headquarters of Ramsey Solutions, it's the Ramsey Show. That is dumb. Cash is king, and the paid off home mortgage has taken the place of the BMW as the status symbol of choice. George Campbell, Ramsey personality, is my co-host today. If you haven't joined us in a while, we're the people that tell you to get on a budget so that you can live on less than you make, so that you can get out of debt, so that you can build an emergency fund. When you've got your emergency fund, you can begin to build wealth.

When you build wealth, you can change your family tree. And when you change your family tree, you position yourself and your family to be outrageously generous that's in game for everything we teach you we want to set you up to be outrageously generous the rest of this stuff is just a path that way it's what we do joining me uh this hour joining me and george this hour is a good friend of ours, Scott Harrison. He's the founder and CEO of Charity Water, which is a nonprofit that has mobilized over 1 million donors around the world to fund over 28,000 water projects in 26 countries that serve more than 8.2 million people. This is a charity of scale. Water is a big deal. And, of course, this is the week when we had International Water Day.

Right, Scott? That was yesterday. Yesterday. Well, almost like we planned this or something. Who knew? I didn't. But, yeah, I'm glad we did it. Perfect stuff.

So the whole clean drinking water thing is, in my mind, I mean, there's so much that nothing can happen until you start with that. Right. In a developing country. I mean, in any situation. But if you don't have water, you spend all your time and energy getting water, and you can't move on to any other parts of your life. It really starts there. It's such a basic, primal thing.

That's right. And as we sit here, 771 million people don't have it. Wow. One in 10 people alive. So that's two Americas full of people living around the world that don't have that basic need met. And so they spend an inordinate amount of their day walking for it. Miles and miles and miles to get one pot to come back and then do it again tomorrow.

Yeah. And it's the women and the girls that are bearing this burden. I remember when I started, I came across a stat that 40 billion hours are wasted just by women in Africa walking for water. So you have an unrealized economy of time that could be turned into productive work, entrepreneurship, selling things at the market, leading families and communities, wasted seven days a week walking for unsafe water, not even useful water. The organization is Charity Water.

If you want to learn more about it and how you can give, charitywater.org slash Dave, jump over there and you can find our portion of the site. We got to know scott uh several years ago and i think the first thing that attracted me to you the charity is amazing and the water that the act the actual end product of what you're trying to accomplish is uh world class and such a again a primal need and it frees up so many things but the thing that i ended up connecting with you most on was that you went out the whole charity thing a different way rather than just begging for money kind of thing. Well, I started, I was 30 years old.

I'd had this experience as a photojournalist on a medical mission where I'd seen people drinking dirty water, made that connection to health and came back and said, I want to try to get everybody on earth clean water. I talked to people who were my age and they were cynical and skeptical about charity. Everybody seemed to have something they could pull out of their back pocket of a charity gone wrong, whether it was mismanagement of funds or some sort of scandal. So I thought, what if we could tell people that 100% of everything they would ever give would go directly to fund these water projects,

which we'd prove on Google Earth and Google Maps. And then in a separately audited bank account, I would raise all the overhead from a small group of business owners and entrepreneurs and donors. So it would kind of church and state, those nasty Epson copy toner costs and the staff salaries in the office would be paid for by today about 100 families where millions could give and know that all their money goes. 100% of your donation.

We even pay back credit card fees, which sounded like a great idea when you're not at scale. And now it's getting close to a million dollars. But if you went online and gave $100 right now on your Amex, we get 97. Wish we got 100, but we get 97. We pay back that 3% transaction fee, and we send and track the $100. Wow. So that the whole $100 actually goes. So you're not even deducting that fee. Yeah. And 70% of Americans polled by NYU recently believe charities waste their money. So this is just one way to saying, you know, all of it will get there.

And the 100 families, they love paying for overhead. They're building the organization. They are hiring and retaining talented staff. So it actually isn't that difficult. It's just a completely different value proposition. And we treat them like investors. They're stakeholders for sure. No question about it. Well, it does make it a lot easier emotionally when you know 100 cents on the dollar is actually going to the clean water.

Yeah. And on top of that transparency, Scott, something you've done so well is innovate in this space and the way you've used technology to connect people to what's happening. Talk to us a little bit about that. Yeah, we were the first organization to publicly publish every satellite image of every completed project in the world. We've now got close to 100,000 completed water projects across 29 countries. More recently, we have been creating smart wells.

So kind of in this internet of things, right? Nest or these remote devices. So we are creating wells in Ethiopia and Malawi and India that basically broadcast their functionality transparently to the cloud. So we know when a well breaks and then we can dispatch mechanics to go and bring that project back online.

So we're now monitoring over a billion liters of flow. It's the largest data set in the history of the world when it comes to rural water supply. And then think of Geek Squad or AppleCare turns up in the village with wrenches and the tools to make that maintenance call. So really just the innovation is for the sake, it's all for the sake of keeping clean and safe drinking water flowing in a sustainable way over time. Wow, that's powerful. There's a lot going on there. Very good stuff. Scott Harrison, the CEO of Charity Water, one of the best nonprofits in the world, they've mobilized over 1 million donors again 28 000 water projects uh the website charitywater.org slash dave uh this place around here we're all about teaching you to be generous and we want you to get out of debt

get on a plan so that you have money to be generous with and this is the type of thing we want you to study where you're learning where your generosity is not being all absorbed. This is why we know that taxation is not generosity, because 100% of it is absorbed in stupidity. And this is the exact opposite. 100% of this actually goes to the clean water instead of being wasted in Washington. And there are charities that don't do a good job and use up too much of the money and administrative costs and so forth. And that's where that stereotype comes from.

But this is one that's a great guy, a guy we've known for years. And we just wanted to use in the building. I wanted to stop by and give you guys an opportunity to learn a little bit about generosity, learn a little bit about charity, a different way of doing it, and learn a little bit about charitywater.org slash Dave. Scott, thanks for dropping by, brother. Thanks for having me. Good to have you.

This is The Ramsey Show. People all over the country are discovering a faith-based and budget-friendly way of meeting health care costs through Christian Health Care Ministries. Christian Healthcare Ministries, or CHM, is a nonprofit organization that helps members carry one another's burdens with healthcare expenses, and they have successfully shared each other's medical bills for nearly 40 years. See if CHM is right for you by visiting chministries.org. CHM is a proud sponsor of Dave Ramsey personality is my co-host. Over the last 30 years, we've walked with millions of people to help them overcome their financial stress. We found money stress is just one of the ways we experience stress. People struggle with anxiety, loneliness, stress, all kinds of mental wellness issues.

Here's the good news. Dr. John Deloney, Ramsey Personality, has a new book available for pre-order right now called Own Your Past, Change Your Future. And it is selling like crazy. Everyone wants and needs to know about Dr. John Deloney's book. It is a not-so-complicated approach to relationships, mental wellness, mental health. You're in for a treat. When you read Own Your Past, Change Your Future, you'll laugh, you may cry, you definitely will be challenged, and if you take the steps Dr. Deloney outlines, you will be transformed.

Own Your Past, Change Your Future will show you how to deal with trauma get connected in your community heal relationships your mental health is really important so when you pre-order today we're going to give you free bonus items would include a month of free one-on-one therapy through our partners at better help who does that that's all for getting a $20 book on pre-order. Well, you need to get it right now because the book's going to come out soon and the pre-order deal is going to be gone. So go to RamseySolutions.com, take advantage of this, and we'll be ready to roll. Patrick's with us in Springfield, Missouri. Hey, Patrick, welcome to the Ramsey show hi dave uh i am retired and i have 10 of my retirement in gold and silver bullion and coin and my question is with the disruptions in the

economy due to inflation the fed moved the ukraine war and possible conflict with China in the future. Should I be invested in gold and silver? And if not, is there an alternative? Well, I'm 61, and I have a net worth of several hundred million dollars, and I have zero invested in gold and silver. Tells me a lot. Okay. And so, you know, it's consistent. In other words, my advice is consistent with what I do. In the last 10 years, gold has averaged 3.6%, while the stock market has averaged almost 12. And so I, and the problem is that gold and silver are not necessarily what people will run to

unless they're just afraid or greedy, one of the two. In other words, a failed economy that would rely on gold and silver will, before it relies on that, will turn into a barter economy. So, you know, the only way that, I mean, gold and silver does not have intrinsic value. It has absolutely no value except what someone else will pay you for it. Green presidents' faces on paper don't have any value except what someone else will trade you for it. And so that's how exchange or currency works. It's when we, as a society or as a group of people, agree that something has value.

We agree that little shiny clear rocks have more value than the rocks in our driveway, and we call them diamonds. But it actually has no difference. They're both a little rock. You know, we just decided as a society or a culture that they're. But there's nothing that automatically means that diamonds have value. They don't. It's only because someone else wants them that they have value. And green paper doesn't have value.

It's only it doesn't. It's only that someone else wants it that makes it have value so all of that to say anytime you're investing in a commodity because you're worried about world affairs or stupidity on a global scale or whatever it is uh you're really not accomplishing what you hope to accomplish there if you you know and so you you kind of got to go extreme before these things happen and if you believe that america as we know it is getting ready to implode which is not what you said but for those of you out there that believe that then gold is really

not where you would put your money you should put your money in water bottle bottles of water bullets blue jeans and gasoline practical things Because these utilitarian things are the first things that happen in a completely devastated society. You know, you start fresh. And so, you know, you could trade a gallon of gas, where there is no gas, for almost anything. It becomes like gold. So what happens, you end up trying to trade your gold bar for a gallon of gas.

It won't work. Nobody wants it. Gold bar, you just got to carry your stupid thing around. What am I going to do with a gold bar? There was a YouTube video of this kid. He tried to live on gold bars for 24 hours as an experiment. He couldn't do it. Nobody would take them. No one would take it, and then he tried to resell it, couldn't get what he paid for it. So that was a fun video, fun experiment.

But all of that to say, you know, I'll throw in one other thing, Patrick. I'm being a little bit facetious, but I'm really not. You probably need to turn off the news. I think you've been spending too much time watching the news. Because everything you just outlined for me is a talking point on a 24-hour news cycle. And it's affecting your brain more than it's affecting reality um i mean reality is gas has gone up and that's really biden's fault reality is because he's you know went all green and shut off the faucet anytime you create a

shortage on something you create a price increase something, you create a price increase. So if you want to blame somebody for $5 or $6 gas, you can look at your president. He did that. If you want to blame someone for an increase in car prices, he did not do that. It's not his fault. He had nothing to do with it. If you want to blame someone for house prices going up. It's not Joe Biden's fault.

He didn't do it. Can't blame him for that. Because there's no policy enacted by the White House or at his behest through Congress that caused those things. Those things are the result of a pandemic that created a shortage that drove prices up. And so we have steel prices are way up. I'm building a building up here, a commercial building. We're putting steel in it. Prices are through the roof. We have a shortage of anything.

Yeah, yeah. But a shortage of anything drives the prices up. An oversupply of anything drives the price down. It's seventh-grade economics class. It's called a supply-demand curve. And that is not Joe Biden's fault. And so when the news is on and they're going, well, the Biden administration and the average consumer polls are saying that everyone's mad at the president about inflation.

Well, then they're just uninformed. You shouldn't be mad at the president about inflation. Well, then they're just uninformed. You shouldn't be mad at the president about inflation. You'd be mad at the pandemic. But there's no greedy, you know, boogeyman out there trying to create inflation. It's going to smooth out over time. The only element of inflation that is his fault, and I'm 100% sure of this, is the energy issue. And he shut off all domestic production and so created a dadgum shortage of oil and therefore of gas. And now you're having to pay through the nose to get oil and gas, and we were buying 50,000 freaking barrels from Russia, and guess what?

That's kind of hard to do right now. So again, all in the name of being green, and so George could plug his car in. That's right. Thank you, Dave. Yeah, we want George to be able to plug his car in. It's important that your toy car can be plugged in. Their shots have been fired, guys, just so you all know. Well, listen, Dave, aside from that, here's what's interesting.

You can build incredible wealth and never turn on the news. Isn't that wild? Yeah, higher probability of that. I think we should do a study on that. Statistically, you will become a millionaire faster if you never turn on the news. Well, I do know this. I do know that my stress level goes down. Yes.

My tendency to rage at something that has nothing to do with anything goes down. Well, they're getting better at writing these headlines. It makes you click. It makes you angry. That's how this works. Yeah, and all of us are that way. So just jumping in on you, Patrick, but my money is in good growth stock mutual funds and in real estate that I pay cash for.

That's all I own. I don't own anything else. So sell all that off and put it in mutual funds. You'll be better off in the long run. Man, I'm unusually heavy in real estate, but it's because I'm a real estate guy. I got my real estate license in 1978. I've been doing real estate a long time. So I'm really comfortable with dirt, really comfortable with bricks and mortar,

really comfortable being a landlord. Doesn't bother me a bit. Other people shouldn't do that because you're not comfortable with it. But, you know, real estate, I'm there. Mutual funds, I'm there. This is The Ramsey personality is my co-host today in the lobby of Ramsey Solutions on the debt-free stage. Jason is with us. Hey, Jason, how are you? I'm well. How are you? Better than I deserve, man. Fantastic.

So where do you live? Albuquerque, New Mexico. Cool. How much debt have you paid off? $51,000. Woo! How long did that take? In 16 months and 10 days. Good for you. And your range of income during that time? Started at $82,000 a year and ended at $83,500. Good. What do you do for a living? I work at the National Research and Development Laboratory there. Okay,

cool. Very good. What kind of debt was the $51,000? A little bit of everything except cars, actually. I had a computer, two small student loans, a couple of credit cards, my second mortgage, and a large 401k loan. Cool. Okay. So what prompted this journey on this Ramsey stuff 16 months ago? It was a friend of mine that I work with, my friend Justin, we were looking at 401k numbers and how much can we, if we put in this much, it'll grow to this much. And, you know, we just started talking about numbers and I was like, you know, I need to pay off some debt. And I was like, I got a lot of bills. So it just started that. He mentioned your name and asked if I had seen your program. I was like, you know, I i've heard of him but i haven't really looked into it and so he sent me a couple of videos and then i

started binge watching videos and just it just went from there wow wow good for you man cool so uh you sit down and just say that's it i'm doing. Yeah. I probably researched it and watched videos for a couple of weeks, saw it, and I was like, okay, okay. And then the hardest one was the first one, and I just decided. After that, it was done. After that, I was on a roll. Okay. But you learned enough just from the YouTube to figure out what to do. YouTube and your website.

I got on the Facebook, Dave Ramsey Baby Steps Facebook and just started asking all kinds of questions and researching all I could and just went from there. Yeah. They'll give you an answer on there. They are happy to answer. That's amazing. They're a chatty bunch. So tell me about the second mortgage. Second mortgage,

it was a cash out and the money went toward, you know. Who knows what? Who knows? Who knows? It left. But, yeah, that was a big one.

But I think one of the hardest ones to pay off was a 401K loan because I had to put it all down all at once. Yeah. That was the last one. Man, good for you. Who was your biggest cheerleader? Well, this little guy okay son but uh you know family friends um a friend that i met on the baby steps facebook group my friend jen she's she's been huge the whole time we've been talking ever since and my friend justin at work

you know some of the guys at work think i'm crazy some of them yeah they're like man that's great wow yeah that's good what's your son's name and age? Grayson, and he's 11. Grayson's 11. And he was encouraging you the whole time. Yep. You got this, Dad. Yep.

Very cool. That's huge. That's very cool. All right. Now, when people find out you paid off $51,000 in 16 months, and they say, how did you do that? What do you tell them the key to getting out of debt is? Just commit. I mean, there's no halfway.

It's start it and go through it. Finish it. I mean, you got to get on a plan. Really, the plan was, that was huge for me. And a budget. I'd never budgeted before in my life and uh when i did my first budget i found out that i'd been wasting a lot of money every month all of us had that experience brother so uh this feels like you sprinted through it it does like you just went

hard at it yep uh you think you'll stumble back into debt now no why not i i'm sick of it i actually have money now once you know what that feels like you know i like this let's not go backwards it's uh i like not being broke it's wow it's different i mean you know it's i'm through step three i'm into four four, five, and six now. It's great. You feel the levity. What was the hardest part of the whole journey, the biggest sacrifice? I mean, the hardest part was the first payment, and then the last one. That was the big one because I had all that money in my savings.

I was like, I have money. But now I didn't really. But it was the first time you had that level of discipline to even save that up and not spend it true so you felt the pain of that but then you felt the freedom soon after i mean almost instantly yeah wow so how's it feel now it's great you know we're on vacation and we're swimming and life is good life Life's good, yeah. I like it. I like it. Well done. Feels great.

Good job, Jason. We're very proud of you, man. Thank you. Very studly. Very well done. You too, Grayson. Good work, brother. Good work.

I like it. We got a copy of Baby Steps Millionaires for you. That's the next chapter in your story for sure, heading that direction, and a copy of Total Money Makeover for you to give away and stir up a holy ruckus somewhere. We'll do it. So very, very well done. Good stuff. All right. It's Jason and Grayson from Albuquerque, New Mexico.

$51,000 paid off in 16 months, making 82 to 83. Count it down. Let's hear a debt-free scream. Ready? Three, two, one. We're debt-free scream. Ready? Three, two, one. We're debt-free! I love it! That is excellent.

Excellent job. Man, that's fabulous. Changes everything when you do that. It just changes everything. Austin is with us in Grand Rapids, Michigan. Hey, Austin, what's up? How's it going, Dave? How you doing?

Better than I deserve. How can I help? Well, I had a question. I'm sorry, is it too echoey in this room right now? I can't hear you. You're kind of going in and out. Can you speak directly into your phone? Yeah, I certainly can do that.

Give me just a moment. I don't know. Try one more time, Austin. Can you hear me? Sort of. You sound like you're in a barrel now. What'd you do? Why don't you turn the speaker thing off and just talk into the phone?

Actually, just on the phone. Okay. How can we help? Sorry about that. So the question was, refinanced my house. I was fortunate enough to buy it at a time and gain enough equity through remodeling to refinance it. The reason I did so was because when I originally purchased it, I had to put 5% down and had the old PMI. So I was paying an extra 100 to 200 bucks a month on that. Okay. So I used the money on the refinance. I had about $80,000 in equity in house,

and the refinance will be a cash out of 15 000 why why are you going further into debt right so the idea was to um i guess consolidate loans that were higher in interest and then to finish off um some remodeling that i had to do um on the house you're gonna do all of that with $15,000? Yeah, actually I would. Oh, so what's your income? Currently, well, I get paid hourly, so base would be $66,500 a year. With overtime, I'm usually around $70,000.

Okay, all right. No, I would not do that. I would cash flow the repairs, and I would cash flow getting out of debt, and I wouldn't go further into debt. You know, you're not really doing anything here you're just moving debt around you're moving it from one place to another it didn't get rid of it it's still there and instead i want you to get rid of it and so you need to roll up your sleeves and punch this debt in the mouth and get rid of it and you fix the house whatever repairs you have left to do out of pocket. Sounds to me like you're a single guy making $70,000.

I want you to tighten up your budget, drop your dadgum lifestyle down, and clean this mess up. Don't try to borrow your way out of debt. You can't borrow your way out of debt. It's a terrible shortcut. And it sounds like he already did the cash-out refi based on how he was talking. That's even worse because now I don't know how to undo it. I mean, it sounds like he's going

to do it regardless. Yeah. Well, there would be no point in calling us then. I think he wanted to know how to use the cash, I guess,

but he sounds like he's going to do these renovations and be done with it, but man, you're going backwards and it's a terrible shortcut. We want you to pay off your house, not go further into debt.

You can't get out of a hole digging out the bottom, people. That's not how you get out. This is the Ramsey Show. We'll be right back. George Campbell Ramsey personality is my co-host today. Open phones at 888-825-5225. Jessica is in Dallas. Hi, Jessica.

How are you? I'm great. How are you? Better than I deserve. What's up? I have something that we just cannot figure our way out of it, and it's probably easier for you to explain it to us. We have bought a house about three years ago,

decided on installing solar panels, adding to the debt, and we do not make but maybe $3,100 a month after child support. We do not know which way is up. We do not know how to make ends meet. I've tried to start a stay-at-home business while I stay at home with my son, and we are just upside down on a lot of things. What do you owe on the solar panels? They were just installed last year, that's about thirty thousand dollars what is

what do you owe in your house we know about 197 okay what's your house worth uh per open door it's worth about 300 okay what other debt have you got we have about 15 grand in credit card debt because we try to make uh make remodeling things happen when we bought the house. That didn't work. So, yeah. So, of course, I just don't want to reserve the car. How much do you owe on your cars? My stepdaughter.

We don't owe anything on cars. We're renting to own some of a friend of ours, but we may likely just have to give them back the car. So you have two cars? We actually have three cars. One was gifted to us, so there's no reason to have the third. That's why we might just give it back. So you have one that's paid for, or you have two that's paid for, and one that's rent-to-own.

Correct. Yeah, give it back today. Yeah, you're right. Today? No, I'm not kidding. It was not a joke. No, you're right. Today. No, yeah, we just discussed that this morning before I gave you a call. Okay. Aside from that, like I said, I'm doing everything I can.

So $3,000 take-home pay. $3,000. And how many kids have you got uh we have one child at home and then my stepdaughter and then your stepdaughter what your stepdaughter is not at home you mean she you have partial custody with her partially yes okay all right i see And how old's your baby that's at home? He's three. Okay, all right. And your husband works outside the home and you've been trying to do stuff from home? Yes, sir. Okay, how old are you guys, 30? That sounds nice, about 36. Okay, all right. Well, I knew you was right in there somewhere based on the mission. Okay, so let's back up a second and let's look at the whole thing okay all right there's like four things that jump out at me on these conversations so far okay one is you guys

have to lock arms and write down a pledge in blood that says i'm gonna quit buying crap i can't afford solar panels renovations anything ever unless i can pay cash for it i'm never buying it again agreed agreed because you have impulsed yourself into a corner you're right unwise purchases that put you in a corner right okay now that's thing one that jumps out at me uh thing thing two is then the two of you are going to sit down and also start a budget and we're going to help you i'm going to put you into ramsey plus into financial peace university and every dollar if you promise me that you and your husband will do everything I teach you to do, you can turn this around. Oh, absolutely.

I'm desperate. The other thing we're going to do is I'm going to send you a copy of Ken Coleman's book, From Paycheck to Purpose, so that both of you can begin to work on your careers. Because neither one of you are maximizing your incomes. Correct. You can both make more money. Okay. And that would help. would that would be amazing yeah i mean you should double your income really in the next year yeah between you being more effective at what you're doing from home and between him rethinking his whole career strategy

absolutely okay absolutely and lastly you can have a whole lot of peace. Just breathe it in. That if none of that works, just sell the house. Yes. That was what I jumped to at first. Yeah. And it clears everything. You're 100% debt free. Get you a little rental.

You and your little three-year-old. And you guys restart fresh all your mistakes are covered by the equities in the sale of the house you get a fresh start i'd rather you didn't do that i'd rather you get your income up and pay off forty five thousand dollars worth of debt fifteen credit card thirty solar panels and keep your paid four cars and living on a budget you can probably do that if you can get your income up. I'd rather you keep the house. It's a better long-term plan.

It sure is. I don't want to move. I don't want to find a new house. I don't want to put money down. But you're not so far in the corner that you can't get out. Right. Because we can always play this card if we get cornered right sell the house that's our last that's our last chance so what i'm what

i always do is this here's what i'm doing with you and i do it with myself and george we talk about this a lot in financial coaching as well if you can analyze your worst case scenario and kind of emotionally swallow that and let it get down in your stomach, and that's your worst-case scenario, and you accept it, then everything from there is up. Yeah, everything's easier after that. Yeah, so I know I would cry a little, but I could sell the house and this whole thing would be over. And so really at that point, any other thing I try is a better plan. Right.

You know? So, okay, you're okay. In other words, Jessica, you're okay. Breathe. You're okay. You're just behind. You're in a Monopoly game, and you're not winning right now, and you need to go around and pass go and collect $200, you know?

You're at baby step zero where we decide that we're not going further into debt. We're going to stop digging this hole. That's a big deal. And then we've got to start baby step one and two and start paying off the debt. And you can do this. I mean, this is not an emergency scenario. It feels like your back is against the wall, but it's just because you

can't see the forest from the trees right now well you have absolutely no idea where what little money is coming in is going you're so freaking chaotic and out of control right now that when you sit down and actually start doing a budget that's also going to give you a sense of power fabulous that sounds wonderful and so you're you're it's not going to fix everything tomorrow but you're going to go oh crap we really can because george and i've done enough budgets that we can look at these numbers and go i can do that you can do that you can do that but yours is so frazzled and it's going off in 46 000 directions that it's hard for you to go i mean we actually have more belief in your situation than you do at this moment you sure do you really Jessica please turn off every screen in your house because there's going

to be another infomercial selling you on another thing and more solar and credit cards just turn off the screens and get real focused on this debt you can do this okay so I'm going to send you I'm going to send you the tools to do it I'm going to send you the tools to do it Kelly's going to pick up we're going to get you signed up for Financial Peace University and Ramsey Plus it's going to send you the tools to do it. I'm going to send you the tools to do it. Kelly's going to pick up. We're going to get you signed up for Financial Peace University and Ramsey Plus. It's going to give you the EveryDollar app. You and your husband sit down tonight, put the kid to bed, turn off all the TV, sit down, start working this budget, turn that car back to that friend, cut up your credit cards, and start the class.

And I'm also going to ship you Ken Coleman's book because we're going to start having discussions about both of you making more money, which will solve this. But again, the career has kind of been running on default. Just whatever comes is what I do instead of by plan. And anytime you run something by default, you're running at about 30 efficiency versus plan execution of a detailed long-term game plan will get you closer to 100 efficiency and but when you just let everything everything's just kind of been happening to y'all and we're going to turn this around you're going to start happening to it that's right intentionality and here's what's

amazing about doing that budget the first time you it, you want to throw up because you realize how much money you've wasted. And you went, I thought we were spending $200 on food. And then you start to do a budget, get on a plan, start tracking it, slim things down, and you feel that hope. That's what this is about. All right. So, Kelly, paycheck to purpose and Ramsey Plus. We're going to take care of you. Jessica, you called me back any time you get scared.

We will walk with you through this. We know you can do this if we can convince you to go do it. This is The Ramsey Show. Hey, folks, Ken Coleman here. Did you know The Ramsey Show is one of the most popular podcasts in the world? It's your daily dose of advice on life and money. Check out all of our shows from The Ramsey Network wherever you listen to podcasts. The Ramsey Show.