The Ramsey Show - App - You Can't Do "Ish" If You Want to Win (Hour 3)

Episode Date: August 23, 2019

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Live from the headquarters of Ramsey Solutions, broadcasting from the Dollar Car Rental Studios, it's the Dave Ramsey Show, where debt is dumb, cash is king, and the paid-off home mortgage has taken the place of the BMW as the status symbol of choice. I am Dave Ramsey, your host. This is your show. Thank you for being with us. It's your show because we talk about you. You're our favorite subject. And some of you are downright impressive, and some of you are downright entertaining. We're glad you're with us, I can tell you that.

The phone number is 888-825-5225. That's 888-825-5225. Jesse's with us in Houston, Texas. Hi, Jesse. How are you? How's it going? Thank you, Dave, for taking my call today. Sure.

What's up? So, recently, I got a car loan about four months ago. Mm-hmm. And I owe about $49,000. On the car? On the car. On my truck. It's actually a truck.

$49,000. All right. And your question's what? So my income is $60,000, and I want to get out of debt. So I have $49,000 in car loans and $9,000 in credit card debt. What do you think you want to do? I mean, I want to sell the vehicle because I have another car that's about, a car maybe worth about $2,500.

So, like, I want to get rid of the truck, but I don't know, you know, what steps to take exactly. How long have you had the truck? How long have you had it? For four months. Is it brand new? 2017. I got it with like 15,000 miles.

Okay. All right. Well, it's a difficult... The more expensive a vehicle is, the more difficult it is to sell. A $50,000 truck is harder to sell than a $10,000 truck. But you definitely need to sell the truck.

There's no question about that. And you're probably going to lose a pretty good amount on it. I mean, you know, you may have to write a check to sell it, or you may have to borrow some money to sell it to cover the difference. You're probably upside down on it. You know what that means? It means you owe more on it than it's worth right now i suspect don't you yes definitely i know yeah so i mean let's start talking to uh dealers about what you can get for it and let's get on craig's list and let's get on

um kelly blue book kbb.com and look at private sale and let's get the car listed on trader.com and let's see if we can get it sold. Dude, you've got to sell the truck. I mean, you don't need a $49,000 truck with a $60,000 income. That's insanity. Yeah. It's got to go. I mean, it's killing you.

I don't even know how you got this loan. That's an unbelievable loan. Wow. What's the interest rate on the loan? Well, the vehicle was worth $32,000, but with the interest, it went up to $50,000. So it was like 11% interest for 72 months. Oh, that's better news. Okay.

Because, no, that's the total of the interest if you pay it all the way through. But you don't owe all of that if you sell the truck early. So what you need to find out is what your payoff balance is, not what the total is. Okay. Do you know what your interest rate is? Yeah, my interest rate is 11% for a vehicle that was 32. Ouch. They saw you coming, didn't they?

Yeah, when you left the lot, they had a party. They sold a $32,000 truck at 11% interest. They had a party when you left the lot. There was, like, confetti, and, you know, they're handing out alcoholic beverages and all kinds of stuff after that, man. I'm just telling you, wow, what a mess. Yeah, you need to get that thing sold, dude, as soon as you possibly can. The good news is call the – first thing is find out the value of the truck.

Go to kellybluebookkbb.com and look at private sale and put in the information about the truck. And then call the finance company and get your actual payoff, meaning if you pay it off in the next month, what is going to be the balance to pay it off? And that's going to be around what you borrowed originally. It's not going to be a lot more. It's not $50,000. That's helpful. It's a little better. It's still $20,000 better than the original discussion, but man, what a mess. Yeah, you still have a car that's insanity, and you still have a car that's got to go,

and a truck, and it's still, ouch, what a mess. Chelsea is with us in Kansas, Salina, Kansas. Hey, Chelsea, how are you? I'm doing well, Dave. How are you? Better than I deserve. What's up? Well, I recently started reading your book that comes with your Financial Peace University, and so I'm kind of getting overwhelmed about the first baby step.

I'm not quite sure how to go about saving. I make like $100 more a month than I pay in bills. So what is your income? I make about $1,800 a month. Okay. And you're single? Yes. And how old? 26th.

And what do you do? I'm an office manager at a flooring store. Okay. So it sounds like you have an income problem, don't you? Yeah. Yeah, I actually am going to be starting a second job in the evenings on Monday. Good. What's it pay? $9 an hour. Okay. Can you do better than that?

At the moment, no. I mean, my full-time job is $11 an hour, and then the second job I'm getting is going to be $9. You can do better than that babysitting. You can do better than that cleaning houses. You can do better than that walking dogs. You can beat $9 an hour. You cannot devalue yourself to that point. You need to make some money while you're working this extra job with your side hustle. So you need the best. I mean, you can do better than that delivering pizzas.

And so, you know, let's start shopping around and thinking about how we can act. Because, I mean, I want you to make an extra $1,000 a month minimum, maybe $1,500 a month. And you can do that delivering pizzas and setting up a nanny service or babysitting service in your neighborhood. Just call all your parents, you know, friends and say, who's got kids, you know, or whatever, or whoever's in the area. Or go to your local church and, you know, just start talking to people in the nursery and go, hey, I babysit, you know. And you make $20 an hour in most places doing that. So, yeah, let's start setting up some things like that where you can make an extra $1,500 a month. Because, see, that suddenly changes your equation, doesn't it?

Yeah. That's like one month you got your $1,000. Yeah, that would be incredible. Yeah, $9 an hour, and you get a few hours here and a few hours there, and then they take taxes out, and they take something else out, and then you get home with four cents, you know, if you're not careful. Yeah. So, yeah, you need to make $1,500 a month as your part-time gig.

That's your first step on your income equation. The second step is you say, I'm 26. What do I want to be doing when I'm 36 that pays $80,000 a year? Right. And what steps have I got to do to become one of those kinds of people? Whatever that title is, whatever that job title is, what have I got to do to be that? What classes have I got to take? What mentorship program have I got to get in?

What apprenticeship program have I got to get in? What apprenticeship program have I got to get in? Whatever. And then you start taking long-term steps to get yourself into a better career that's not an $11 career. And because you need to get your income up overall too, and not have to work side hustles your whole life. This is the Dave Ramsey Show. Are high health care costs getting you down? Are you confused trying to navigate your options? Do you wish you could find an affordable, biblical solution to your health care costs? Based on New Testament principles, Christian Health Care Ministries, or CHM, helps Christian families, churches, and ministries join together as the body of Christ to share their major health care costs. Christian Health Care Ministries is the original health cost-sharing ministry.

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Christian Healthcare Ministries is a proud sponsor of Dave Ramsey Live Events. chministries.org. Thank you for being with us, America. Alex is with us in Raleigh, North Carolina. Alex, welcome to the Dave Ramsey Show. Hey, Mr. Ramsey. Very good to speak with you. It's an honor. Thank you.

You too. How can I help? Well, I have a question. My wife and I just have recently started listening to your program and she became a stay-at-home mom about two years ago. So we went from two incomes to one income. So she wanted to be a stay-at-home mom. So during that time, unfortunately, we started putting stuff on credit. But within the past two years, well, last month, we started using the every dollar budget and realized that I need to make more money. I make $48,000 a year. And to break even with just our bills, I have to make about $60,000. So I picked up a part-time job, and I make about $60,000 now. I make about an additional $1,200 a month. And our question was, our home has about $80,000 in equity, and we have about $68,000 worth of debt. We're wondering if we should sell our home to pay that off.

That way we can kind of expedite our financial success. What is the debt on? So we have $40,000 in student loans, $20,000 in credit cars, and $8,000 left on a car loan. What are your cars worth? Well, it's one car. It's a minivan. It's probably worth about $12,000. You only have one car?

No, we have two cars. Our other car is paid paid off we paid that one off i think in 2016 we had that for about six years um but we just have this one to pay off now yeah what's the one that's paid off worth um probably six thousand okay and how much is your payment it's um 1088 a month okay um well i think you've identified the problem and you figured out how to keep the boat from sinking but you're not sure you want to paddle this hard as a long-term goal right so basically what you're telling me is um you're trading your house for a part-time job. Correct.

And I wouldn't do that if I thought I could get your day job income up within, say, two years. Okay. I'd work a part-time job for a little while to keep my house but i wouldn't want it i wouldn't want to work it for a decade to keep my house right so i've got to have your day job income on a trajectory that gets you to 60 000 or changing jobs or changing careers even that gets you to 60 000 in two years if that's not going to happen, you probably did make the decision to sell the house when she made the decision to come home.

Okay. Because you probably aren't going to be able to afford it given the debt that you had. Right. Now, you just can't. I mean, my wife came home with our first child and was home the entire time. She's been a full-time mom now for 34 years, now a full-time grandmom and all that. Right. But Mimi, right. But you have to do the math you have to say you know we've got to live

on this income if we do this you can't just wave a wand and go i'm coming home you know so right and that's kind of what y'all did you didn't really do the math and so you kept living like you were and you ran up a bunch of debt plus you didn't have the other debt paid off and you didn't have a plan to do it. So you didn't have the wiggle room for her to come home as quickly as she did. But she did it and you're there now. So I'm going to send her back to work. That's not the point. But you went back to work.

Good for you. Extra job to be able to keep this stuff going. But, yeah, if you can lay out a career plan and you don't have to decide in the next 20 minutes, but you've got to decide before you lose the emotional energy to keep working a part-time job. If you can lay out a career path that gets you where you think you can pay your bills on your regular job within a couple of years, it's not perfect, but the point is I don't want you working a part-time job your whole life. Yes, sir. So if you can get that going, then I would keep the house.

Otherwise, I would sell it. And then you've got to just decide, okay, what are my career goals? What am I going to be doing in five years, 10 years, and 20 years? Andrea is with us in Detroit, Michigan. Hi, Andrea. Welcome to the Dave Ramsey Show. Hi, Dave. Thanks so much for taking my call.

Sure. What's up? Okay, so I just graduated college in May, and I'm in baby step number two. And my question is about a student loan that I have. So currently, I owe about a little over $9,000 on it, and it has an 11% interest rate. Yeah, I know, right? And so it's the last loan of my baby in my debt snowball. And my family is trying to give me advice about taking out a personal loan with a lower interest rate from my bank to pay off that loan. And then I would put the personal loan into my debt snowball.

And I just don't really know what to do. And I wanted to get your advice on it. How much other debt do you have? I have about $60,000, and it's all student loans. Okay and what's your degree in? In history. Okay well congratulations on graduating. What are you doing for a living? So I actually just got a full-time job and I will be working on restoring a historic home. Oh wonderful So I just found out yesterday. Very cool. What are you going to be making? I anticipate anywhere between 25 to 35, just since I'm starting out, but I don't have an exact number yet.

Okay. And you said you graduated in May. What have you been doing between now and May? What have you been making? I've been working a series of part-time jobs, about three part-time jobs, and so I've been able to pay off about a little over $5,000 of my loan. Good for you. Well done.

Thank you. Well, you're probably going to keep a couple of those in addition to your full-time. Oh, definitely. To accelerate your get-out-of-debt plan. That makes a lot of sense. And, yeah, if you can refinance an 11% student loan, that's not a Sallie Mae or Navient loan, is it? Oh, yeah, it's Navient.

That high? I'm shocked. I didn't know there were any of them out there that high. Okay, yeah, if you can refinance that at a cheaper interest rate, I would. Okay. It doesn't hurt anything. Here's the thing. Let's do the math, and that always helps us,

because it's all theory until you do the math. And so 11% on how much balance again? It's a little over $9,000. Okay. And let's say you could drop that dramatically, okay, by 5%. Wow, that would be unbelievable, all the way down to 6%. That would be, but that just makes the math easy. Okay.

So five times nine is $540 a year. That's what you made. So a huge drop in interest rate is only $540 a year. Yeah. So it's helpful. You're probably going to save a couple hundred bucks a year, 300 bucks a year, or something like that, not 540. So it's helpful to do that.

I would never, I mean, if you lay 540 bucks on my table, I'll pick it up, right? Yeah. But it's not, it doesn't solve a $60,000 problem. Exactly. And what solves that is what you've already figured out, working your butt off and paying off debt. So you can't consolidate your way out of debt. You can't get interest reductions and get out of debt.

You have to pay the debt. But does it help a little? Yeah, it helps a little. What you're giving up is this. If you become disabled or die before a Navient loan, a federally insured loan, is paid off, it goes away. If you have a bank loan, it doesn't go away. Student loans are waived in disability and death.

Regular loans are not. Okay. That's the only thing you're giving up. But you're young. You're getting after it. I'm not worried about those two things as a high probability. I'll take a lower interest rate if I'm in your shoes, if I can get it, and a fixed rate only, okay a variable rate okay and then and i think you're gonna i think you're probably

gonna pay this all off in about two years because you're a worker yeah that's the plan you can do this i think you can do it i'm proud of you good job open phones at 888-825-5225. You jump in. We'll talk about your life and your money. Blinds.com has a 100% satisfaction guarantee. They give us our question of the day. Their 100% satisfaction guarantee means if you mess up, if you mismeasure, you pick the wrong color,

they will remake your window blinds for free. And you get free samples. Free shipping. And with the new promos they run every month, you'll save even more. Promo code is RAMSEY. Questions from Steven in Idaho. I'm in a money management class. We're learning about from your foundations and personal finance class.

You talk about mutual funds. I get excited to start investing. Where can I go to find good mutual funds? I search online, but there's so much out there. You can check with one of our SmartVestor pros. Click SmartVestor at DaveRamsey.com. Put in your info. It'll drop you next time. Thank you. Zach and Hannah are with us in Indianapolis. Hey, guys, how are you? Hi, Dave.

I see on my screen you're debt-free. Way to go. Thank you. How much have you paid off? $20,000 in 16 months. $20,000 in 16 months. What kind of income? We're making $45,000 to $50,000,

and now we're on track for $70,000. Cool. What do you all do for a living? I work for a pest control company. And I am a kindergarten teacher at our church's Christian school. Okay, cool. And I'm looking at a picture of your family on YouTube. It just flashed in front of me.

How many kids have you got? No, those aren't our kids. Those are just kids in our wedding oh oh oh my gosh that's the kids okay i feel so much better how many do you how many children do you have any no okay okay yeah i got past that i was wow, that's pretty impressive with all those kids you paid off that debt. All right. So $45,000 to $50,000, you paid off $20,000 in 16 months. How long have you been married?

We've been married about 20 months now. Okay. So this was first order of business after marriage. Yes, sir. Yeah, we cash flowed our wedding. Cool. What kind of debt was this? It was mostly mine.

I had a student loan. I had a medical family loan, credit cards, and then Hannah had a small car loan. Okay. So, Hannah, you guys are dating along, and this guy goes, I got something to tell you before we go any further. I got $20, dollars worth of debt he um he was very open about it which was really helpful um i knew he had some financial issues but i didn't really know what they were i had never um had a credit card or anything before my mom just kind of told me i wasn't responsible enough to have one so

i didn't have anything like that just kind of thought that would come along with growing up, getting married. And then when we were dating, he told me it was about $20,000 in debt. So that was really eye-opening. Yeah, wow. But we have a plan to get out. At what point did you start talking about doing this after marriage? I guess while you were engaged. Yeah, while we were dating and engaged, we kind of, we had some friends,

Juan and Janae Lopez, they're young adult leaders at our church, and I had talked with them about just how to handle money. She had helped me set up my budget, how to use the envelope system, all those kinds of things. And when I started dating Zach, they were really influential in that time and just kind of told me, like, hey, you guys can do the Dave Ramsey plan as long as there's a plan to get rid of this. You know, that shouldn't be a huge red flag as long as you have a plan to get out.

Good. I just remember being a young man in church, lifting up my hands and kind of feeling convicted about my situation. And I just, the Lord really brought me through all this and helped me realize that, you know, you can do this, you can be blessed, there is a way to do this. And that's how I viewed your program more as like just a really good Bible study or sermon, and having that worldview has helped me just really have the full impact of just the whole program. Well, it does, because it goes faster when God blesses, and so it's the old thing, you

work like it all depends on you, you pray like it all depends on God, right? Right. Exactly. God's blessing is not just a concept. It's a very real and palpable thing. It gives you the energy to go to work. That's right. For one thing, you know, among others, but the two of you working together.

So now that you did this, you're a young married couple, first order of business as newlyweds, knock out $20 thousand dollars worth of debt in 16 months what do you tell people the key to getting out of debt is um i would definitely say i mean that every dollar budget is so key um i was just before the show zach and i were talking i said well when we first got married all we had to we had every dollar allocated because we needed every dollar. And then when we started knocking out those small debts with our cars, it really did just give us the energy just to keep going, so just that every dollar budget. And then also just really buying in because we know a lot of people that kind of do dave ramsey they say they're doing dave ramsey

but we literally said no to everything else so that we could do this yeah yeah you can't do so you can't do things yeah well done you guys did you have people cheering you on or people telling you're crazy or both we had more cheerleaders. Even if they didn't follow the plan, they understood the value of what we were doing. Who was your best cheerleader? Probably our young adult leaders, Juan and Janae. Yeah, I bet. The people close to us. Zach's mom and my mom, they're definitely really proud of us, too.

You know, see us working hard and really maturing yeah it's got it's got to make your parents feel good that the two of you are working together and that this is uh you know you're able to hit a goal like this this early in your marriage very well done yeah two two broke kids from single mom families have changed our family tree wow there you go see that's what you call a blessing from God right there. Wow. We feel good to live in a country where you can work hard and work your way out of poverty and just climb out of debt

and just do the right thing. You guys are impressive. How old are you two? I am 28, and she's a very young 29. And you're a very smart man. Yeah, my granddaughter was by here the other day, and she said, Papa Dave, it's going to be your birthday. And I said, yeah.

She was here today, this morning, Rachel's daughter. I said, yeah. And she said, you're going to be 14. And I said, yes, ma'am, I sure am. It's the 44th anniversary of my 14th birthday. Way to go, you guys. Very well done. I'm proud of you.

We've got a copy of Chris Hogan's book for you, Retire Inspired, and that is the next chapter in your story. You continue to change your family tree, be millionaires, and outrageously generous as you go along. You know what happens now with Juan and his wife having done this with you guys having encouraged you you now have a mandate to encourage others for the rest of your life you're stuck with this we feel it very strong the fruit of this can be shared absolutely amen well done you two very well done zach and hannah indianapolis 20 000000 paid off in their first 16 months of marriage, making $45,000 to $50,000 a year.

Count it down. Let's hear a debt-free scream. Three, two, one. We're debt-free! Woo-hoo! Oh, my goodness. Wow. Man, life is good.

That's as good as it gets right there. Open phones at 888-825-5225. Mike is on Twitter. Dave, I ended up getting a degree with no market value. What would be a good second option to bounce back? Well, then we would just pretend like you don't have a degree if it has no value. So what do you do if you're sitting there right now in your situation with no degree? Is a college degree necessary to be successful?

No. If you have good basic academic knowledge that a college degree gives you in a given area, does it cause you to accelerate? Yes. So a good business degree, marketing degree, communications degree, teaching degree, whatever it is, you know, can lead you into a lot of particular areas. And so I think what you need to do is stop and say,

what do I want to be when I grow up? Now, I don't know how old you are. It doesn't say here. We don't know from your Twitter account. You might be 25. You might be 55. But either way, what do I want to be when I grow up? Meaning, what's the next stage of my life going to be like?

What do I want to aim at? And what are the steps to become one of those? Oh, and by the way, does one of those make a living? I don't want to be one of those if they don't make a living. We already did that once. So that's the way to work through it, dude. Hey, thank you for listening. This is The Dave Ramsey Show. I'm going to go. Our Scripture of the Day, Galatians 6-9.

Let us not become weary in doing good, for at the proper time we will reap a harvest if we do not give up. Winston Churchill said, Success is not final. Failure is not fatal. It is the courage to continue that counts. The number one character attribute of people who are successful is just simply perseverance, isn't it? Wow. Have you downloaded the EveryDollar app yet?

If you haven't, you need to try to do it. And if you downloaded it and you weren't consistent using it, a ton of people have good intentions, but without the monthly plan where you're regularly checking your progress, your money slips away. So just because you got it on your phone, it's not magic. It doesn't tackle you and make you behave. Now is the perfect time to re-engage. Log into EveryDollar. Make sure the September budget is done. It takes less than 10 minutes. You're going to be amazed about how intentional you can be with a plan for your money

and how much traction you'll get when you do. EveryDollar.com, the world's best budgeting software, the world's best budgeting app. The world's best budgeting app. And it's free. Stephen's in Austin, Texas. Hey, Stephen, how are you? Doing well, Dave. How are you?

Better than I deserve. What's up? Awesome. Just wanted to note and thank you. A buddy led me on to you back in about March or April. I read through your book and just paid off about $58,000 in student loans. Good fun.

Way to go, man. You're on fire. Yeah. How can I help? Moving on. So it felt really good. I'm 29 and didn't have student debt, obviously, since I graduated college, but never really understood it or looked into it. No one explained it to me.

And like I said, a good buddy turned me on to you, and I've just been snowballing ever since. Wow. Very cool. Good for you. Man, amazing. Good. How can I help today?

Thank you. So I have my own consulting gig. I pull a small salary from that. I'm the only employee. My question is, is it more beneficial to open up a SEP IRA or a Roth IRA, or can I do both? You can do both. Okay. And it depends on how much you want to throw into, but you want to be saving 15% of your income overall.

As you know, that's baby step four now be saving 15 of your income overall as you know that's baby step four now that you've got your emergency fund in place and you're debt free and um so you know a traditional roth ira allows you to put in 5500 the sep allows you to put in there's a calculation but it ends up being about 13.8 of your net profit on the business can go into the sep and as long as you don't have employees, the SEP is a wonderful thing, and you can do it as a Roth. Gotcha. Yeah, just get in touch with one of our SmartVestor pros.

Click SmartVestor at DaveRamsey.com. They can show you how to set up either one. Truthfully, the traditional Roth is the easiest one to manage and to set up. So if you're just going to do one or the other, I'd probably just do that one. But if you've got the money and want to load some stuff up here, you know, you can load up a SEP and the traditional and your, you know, your retirement plan over at work as well. Zach is with us in Houston.

Hi, Zach. Welcome to the Dave Ramsey Show. Hi, Dave. How are you? Better than I deserve. What's up? I knew you were going to say that. Awesome. I am wondering, what than I deserve. What's up? I knew you were going to say that. Awesome.

I am wondering, what do I need to do next? I already have a feeling you're going to tell me it's move out. I'm 24. I live at home with Mom. I've been debt-free forever because I don't have a house. I pay for my truck cash. I've been working since I'm 14. I have 41,000 saved as of right now good for you i really want to get a house but i don't know if i'm ready to make that step

there's nobody says you have to today um yeah i think the first step before i did buy a house i would move out and just get an apartment and uh you know get you a decent place don't spend a bunch of money on rent maybe get a roommate i don't know, get you a decent place. Don't spend a bunch of money on rent. Maybe get a roommate. I don't know. Up to you whether you want to do that or not. But let's get used to the rhythm of paying those bills. What do you make a year?

I make $43 at my main job. My side job I just started recently. So it's part-time. I don't have an actual i make about 13 an hour doing that but you've been very frugal and very very systematic about your savings so you've done a great job man way to go thank you uh um also with my main job i've been putting in about 40 of my paycheck into um a deferred comp i $15,000 because I live at home and I have the extra money. That's why I've been doing it, and I just reduced it down to about $150,000 a paycheck

instead of $600,000 a paycheck. Yeah, and I would be, if you have a 401k as an option, that's a better option than the deferred comp, but the deferred comp's not bad. It's not the end of the world. I have a, it's a 457B. Is that what that is? Yeah, that's deferred cop, yeah. And then I also have a pension that's being put into automatically.

Okay, so you're working for the government. I work as a fireman. Yeah, yeah, okay, that's what I figured. Okay, good, that's fine. You're doing great, man. Way to go. So here's the thing. You can get out, get settled um continue to save money in your the month where the place i would pile up money is in that 41 000 account because the bigger down

payment on the house you make the quicker you're going to get it paid off later right so let's let's rent a little while and pile up cash um are you dating anyone seriously? No. Okay. No kids. Okay. I didn't ask about kids. I said, are you dating anybody seriously? I'm just saying that's expensive, too. Okay.

All right. That's fine. Because if you buy a house and then get married, you will discover you probably bought the wrong house. Right. So, you know, it's okay in the early stages of your life here to go slow on buying a house. But, hey, if you're a confirmed bachelor and you're liking this and you want to, you know, get you a place, then think about the type of property that you want to own given your life and your lifestyle. You might want to buy a condo so you don't have to mess with maintenance and stuff, you know. You might enjoy the single life, you know, spending your hours doing something other than cutting grass and so that kind of thing.

So, you know, just decide how you want to do it and then make a purchase based on that. The other thing is whatever you buy, you probably will not own it five years later. Well, I was thinking that I'd want to do real estate. I'd want to keep it paid off and try to rent it out. Well, that'd be fine as long as you have the money to pay cash for the next property. Okay. Okay, that was going to be a question. Yeah, I'm not going to have you borrow to buy your home because you have a paid-for rental that you didn't want to sell.

Okay. I would rather you sell it, use the money from that to have a paid-for home first, and then start building your rental portfolio. But I don't know, man. You're a serious saver. You can probably pull it off and pay cash for the house, too. But, yeah, talk about getting you a little condo of some kind or something like that to get you in there, get it paid off, and then start saving money like a crazy man.

And, you know, see where a crazy man and you know see where that takes you you know by the time you're 30 where you're going to be sitting at that point so you really are doing a good job sir i'm very proud of you that's excellent excellent stuff um but you're you're a frugal person you're somebody doesn't like to spend money so make sure you're giving make sure you're enjoying some of your money while you're doing all this saving and while you're being so responsible, which I do want you to continue to do that part. You're really doing well. Sean on Twitter says, how can I keep fun in my life while becoming debt free?

I understand making sacrifices, but the day I lose my inner child is the day I go the way of old yeller. Oh, you're a drama queen. Oh, seriously. My inner child. I have to protect my inner child. That's because you're an outer child. Oh, brother. Is it okay to budget a date night once in a while?

Or should we put it in gold for 24 months? Dude, seriously, the hyperbole that's going with this tweet is unbelievable. Drama, drama, drama, drama, drama, drama, drama, drama, drama. You act like your world's coming to an end because you sacrifice a little bit. This is called being a grown-up. Adults devise a plan and follow it. Children do what feels good. You can have a date night without spending a dime

you can have fun without spending a dime when you start defining fun as money being spent you need to redefine fun so yeah you can do a lot of stuff here. Yes, you need a sacrifice. Wah. You need a sacrifice. Wah. You need a sacrifice. That's how you're going to get there. The Bible says no discipline seems pleasant at the time,

but it yields a harvest of righteousness. This is grown-up time. Put your grown-up pants on. That puts us out of the Dave Ramsey Show in the books. We'll be back with you before you know it. In the meantime, remember, there's ultimately only one way to financial peace, and that's to walk daily with the Prince of Peace, Christ Jesus. This is James Childs, producer of The Dave Ramsey Show.

Did you know you can now listen to The Dave Ramsey Show on Pandora and Spotify? For all the ways to watch and listen, check out our show page at DaveRamsey.com slash show.