The Ramsey Show - App - You Have To Stop This! (Hour 3)

Episode Date: June 6, 2024

What's going on? What's going on? This is John with my good friend Jade Warshaw and this is the Ramsey Show live from Nashville, Tennessee where we help people with their money, with their relationships, and with their work. 888-825-5225. We're taking your calls on just about anything you've got going on. We have experience, or we've just got our own opinions. And that might be about worth what you're going to pay for it. But we'll give it to you anyway. 888-825-5225. Let's roll out to Seattle, Washington,

and talk to well, well, well, my Michelle. Hey, Michelle, what's up? Hey, you guys. I love it. This is so fun. So I guess I'll just start with my question, and then we can just unpack from there. So I just need help.

My husband and I are navigating the decision. My mother-in-law has approached us and his brother wanting monthly financial help so that she can live a little bit easier at 75. Okay. Wanting or needing? I would say it's a want. What does she want? Trying. So she's struggling to just to make ends meet. She's making it meet, but she's not able to, I would say, live comfortably. And I think she wants to be able to maybe work a little bit less and just enjoy life at ease versus living paycheck to paycheck. How much money is she wanting from you guys collectively? So her biggest wish in the world would be to have her mortgage paid off. Mine too.

Okay. Thank you. Same. Hi, same. Me too. So she's got a couple hundred thousand dollars balance. And so anywhere from $1,600 to $2,000 a month between the two brothers. So we would be pitching in somewhere between $800 to $1,000 a month towards her lifestyle. My, oh my, oh my. So what if she sold her house and moved into an apartment? So that's where I'm kind of questioning. So we have asked her and she's completely against it. Because she won't be as comfortable? Well, there's that.

And then there's also, you know, that's where her and her husband moved to. And about 15 plus years ago, she lost her husband to cancer, my husband's dad. And so there's a lot of just sentimental, and that's what's holding her there. And her house is worth quite a nice chunk of change, which would change her life. Yeah.

What's it worth, by the way? On the low end, I would say $1.5 million. Okay. So I just want to get full clarity. You said that she's making ends meet, but she might not have the money to do extra special things. Right. It's hard for her to go out to a nice dinner or go on a trip. Is a nice dinner like a steak dinner or she can't get Chick-fil-A?

Oh, no. She can get Chick-fil-A. It's, you know, nice things. And she's just getting tired. Oh. Listen, Michelle, talk to John for a minute because I got to sit over here and be quiet. And I have a heart to help. I want to help everybody in the world. I know you do.

I know you do. Hey, listen, I want to help everybody in the world. I know you do. I know you do. Hey, listen. I want to honor family, and I am taking steps right now to be able to take care of my mom and dad if and when that day comes. I totally get it, okay? And there's also, I'm sitting in a $1.5 million house. I make enough money to do whatever I want to do, but I kind of want to do more of what I want to do in less of living in reality. And so this isn't about taking care of mom.

This is about mom having wanting her cake and wanting to eat it too. Right. Right. And she approaches us as, well, this is an investment for you. This is going to be your inheritance. And I'm over here like, well, I ain't guaranteed nothing.

If you live for 20 years, then you might need medical help or care or assisted living in the future. That's right. That's where that's going to come from. And that's also hanging something over your head that you never asked for. You're like, I never asked for you to leave me anything in your will. Totally. Yeah.

And by the way, that's not an investment. Paying for dinners and meals is not an investment no um yeah this is a this is a hard one and here's it's gonna be hard on two fronts it's gonna be hard one because one of your either your husband or his brother's gonna cave and so it's gonna this kind of request from a parent is so selfish because it will split the family. It is not selfish if parent can't eat. It is not selfish if parent doesn't have a place to live. I'm all about that. I'm sitting on my $1.5 million house and I can continue to say it's sentimental, even though a husband passed away 15 years ago.

But this is more about, I'm in a 1.5 million. I'm going to, this is my lifestyle, right? Hey, what's your husband want to do? He's, he's up in the air, but he's, you know, he's understanding the reality of the situation of, you know, she's not, you know, up a Creek. She's got a way through this. And she doesn't have a way through it. She's got a yacht through it. It's not like she has a canoe that she's trying to paddle up a river. She could take a yacht.

Do you have $1.3 million? We've done pretty well. I think our net worth is somewhere just under $2 million. We're new to this program and to be honest with you, money has been the biggest stress in my part of the marriage because I held on to it. And until I found your show, I started opening up to my husband about what this burden and stress was. And, you know, when we're making decent money and, you know, we don't have money one month, I'm just like, how is this happening?

So we're both on board. We're brand new to this thing. We're trying to shuffle our life around to fit into the baby steps so we can actually have a goal to retire and have something on the horizon that's a pin in it. It's not a fantasy or a dream. You said you have a net worth of $2 million,

but what's your net liability against that net worth? How much debt do you have a net worth of $2 million, but what's your net liability against that net worth? How much debt do you have? Yeah, so I've got $290,000 on one of my mortgages that we own outright, the other property, and then about $60,000 in consumer. Okay. And then you have money laying around, obviously, because you've got $2 million. So what's liquid that you can get to like what do you okay so that's a little

bit sticky um because i just recently um closed out my late mom's estate and so i got a modest inheritance um that is not included in that 1.8. And that's just kind of sitting in a money market because I'm still emotional right now. So that's about 260 is liquid. Okay. So you guys are really close to being able to really pay off your debt, all of your debt in this other mortgage and be completely scot-free, basically. Yes. So with, yeah, crunching numbers in the next, you know, handful of years, it'll be completely steamrolled. But consumer debt, yes, this year, 2024, we'll never touch consumer debt

again. Yeah. I mean, you've got 260 sitting in a... Yeah. Can you pay it off right now, like today? I know. Yeah, I can. Yeah. And then that leaves 200. And I know you've got money elsewhere too, but not to get into all that, but then you only owe 290 on this other mortgage and it's your second home. So there's money to make this happen. You got to get with your husband and decide what you want to do, what you don't want to do. But here's the thing. You're not doing anything out of guilt and you're also not going to do, what is it? The guilt and resentment thing, George? Yeah. Choose guilt over resentment every time. Because if you start giving money, you're going to start getting frustrated and you're going to have a month where things are

tight and she's going to be calling you from the steakhouse and you're going to start to resent her. And that's not fair to her. What's fair to her is you and your family and hopefully your brother's family have boundaries. This is the Ramsey Show, 888-825-5225. I'm John Deloney, joined by Jade Warshaw. Jade, that last caller, that got us buzzing in the hallway, man. That was different, John. So, I don't want to talk to the sweet woman who called because she's kind of like second removed right this is her husband's mom's mother-in-law i guess my the

conversation i want to have is to parents out there yes those who would look at their children as a ROI, you owe me, or as a lottery ticket, or as a lifestyle play for me. Yeah. Instead of saying, I got to the end of my life, me and my husband built this world, or me and my wife built this world. We have a $1.5 million house. We're referring to the previous call. We did it. Thank God.

Now we can sell this house. We can buy a $500,000 condo and put a million dollars in the bank to take care of me as a widow for the rest of my life. That's one of the joys of real estate. It's a way to build wealth. For just this moment. Yeah. Instead of saying, hey, you know what?

I'm kind of getting tired of working. How about everybody give me $1,000 a month so I can stay in this million dollar plus property and continue to go out to fancy dinners and to do what I want to do. In many ways, if we're just looking at it dollar for dollar, in many ways, it's the same as if she had $1.5 million in a retirement account and was like, I don't really want to touch this. I don't want to take a draw off it. All my kids, y'all are doing good. So everybody send me a check. Yeah. The money's the money, whether it's in a home or sitting in an account, it's just, she don't want to get to it right for sentimental reasons or

whatever it's like hey this is still real money and real wealth that you have here you just don't want to access it and so it's at everybody else's expense and so and i guess the flip side of that is there's got to be something else in a relationship like this because I want my mom to have the best and I want my dad to have the best. And so there has to be something along the way in this family dynamic that people aren't running to take care of the situation, right? Well, I don't think anything's on fire. No, not only is nothing on fire, there's still, there's roses in these gardens, right? I mean, things are nice. I mean, unless you have, you know, unless you have a terrible relationship with your parents, most kids want to help their parents out, especially

if they, even if they can't financially afford to do it, it's like my mom needs them. They'll put themselves in harm's way and put their financial family at risk to help their, you know? So I don't think it's even a thing of like, Oh, what kind of child are you? It's, I think we want to help, but I think it's also,

but you have money. You have a million dollars, right? Yeah. So there's, you know, I, I asked John during the break,

I'm like, am I some kind of Scrooge? Like, am I crazy? Cause I was like, not, not even having it. No. And occasionally we have, I mean, today we've got a full studio audience and occasionally you look up and the whole audience

is just mouth shaking their head what is happening right now um and so yeah that's one of those rare moments I think everybody was like yeah is this for real and unfortunately it is that um folks want to prop up their lifestyle they don't lifestyle. They don't want to own reality. Here's reality. And this is the conversation. That's why, you know, what we teach here day in and day out here is so important because you do have to think towards the future and you have to think, you know, there's going to come a time, you know, if you're listening and you have kids where the roles are going

to be reversed and you're going to be, you know, the old parent. And do you want to do the same? Do you want to put your kids in the same position that you've been put in? Right. And that, that tracks on many layers here. Like so many of us, I know my generation grew up where parents don't really talk about money and it's just like, you don't ask us how much we make and we don't, you know, they don't talk about money and they don't talk about sex. Right. And so it just gets paid and y'all just appeared in our home. Right. Let's stop talking. And now we're in our thirties and forties and f and it's like i'm like my parents are they doing okay are they not doing okay and we're wondering if we're gonna have to take care of them and so it's like

let's not do that to our kids let's get our financial house in order and let's pay off our debt and for the love of god let's please invest some money so that when your time comes, because it will come, nobody works forever, that, you know, unless you leave out too soon, you know, the time is going to come where you can't work. And are you going to do the same cycle again? And now you're calling your kids and saying, I raised you, the least you could do is, you know, kick in some money for my Chick-fil-A. Well, let me promise you, in this situation, let me back up. Here's my promise. If mom doesn't have a place to live, dad doesn't have a place to live,

and you give him a place, there's going to be some hanging your head a little bit low, but there's going to be some gratitude. Absolutely. Thank you. In this situation, when needs are beyond met,

when mom is a millionaire and she's calling for lifestyle stipends, that number will move for the rest of y'all's life together. That's a good word, John. It will be a thousand bucks and then it will turn into 1500 bucks and it'll be, I need a new car and it will be, I need a new roof and it will be, I need a new kitchen. It will continue to move because it was never about the money. It was about this external grasp for prove to me how much you love me. And as soon as that's met, it just,

that, that finish line continues to move and move and move. And so drawing boundaries there is so hard, so hard because she's going to make it y'all's fault. And you got to draw those boundaries, choose guilt over resentment every single time. That's right. Let's go out to Atlanta and talk to Stephanie.

Hey, Stephanie, what's going on? Hey, thank you so much for taking my call. You got it. What's going on? Okay, so my husband and I are in Baby Step 3, and I need y'all to please be on my side on this one. All right, Team Stephanie, go. Yes. Okay, so our disagreement is on how much we should have in our emergency fund.

Okay. And at the end of the day, by the time we do all of our expenses, it comes down to our food budget. Okay. We agree on what our monthly budget is, but our situation, we're a little different compared to other people. I guess you kind of put us in more of like homesteader prepper like okay you're talking my language keep going keep going

you should see my deep freeze let's go i got two of them so there you go so in my home i have depending on whether it's meat, grains, whatever, anywhere from nine months to a year's worth of food at all times, and we rotate through it. Okay. He thinks in our emergency fund we should not have any funds allocated for food because we have our food storage. I disagree because even though our kids are fairly young, I've got two boys that are,

they're not teenagers yet, but they're starting to eat a lot. Split the difference, Stephanie. You guys are splitting hairs. What's your food budget every month? Okay, so I have a thousand a month. Okay, so take 500 when you're thinking about your budget because three to six months of expenses is basically your basic budget. It's not your budget with all its bells and whistles. So when you're calculating that number and saying,

okay, what does it just take for our house to tick and run and run smoothly if we both lost our jobs? Then yeah, when you're counting up that number, instead of putting a thousand, put 500 and call it a day. What's wrong with that? I agree with that. He thinks there should be nothing, but I said it either needs to be half or the full. You're both kind of crazy. What's the, hey, legitimately, time-wise, what does this equate to,

savings? Is this, you say for an extra month? I mean, what are we talking here? So, time-wise, if we split the gift in half, it's like an extra two months. If not, it's an extra four months. This is not worth your marriage. It's not. He's already married to somebody that needs a year's worth of cow and deer in the freezer. Let him have this one. Let him have this. I mean, at the end of the day, what's it, what, I mean, what, what's it worth?

No, it was just making sure we're on the same page. And actually, if you really want to know, he was the one that was like, you need to call in and ask them. Or you could throw a wrench in the plan and say, listen, if we don't save this up, what if like we've used our last months of savings and the electricity goes out and all of our deer and antelope that's in the deep freezer goes bad? We're going to wish that we had saved up that grocery money. Here's the thing.

That's like my biggest fear is like the freezers are going to like. Most people who are like, I'm prepping for the end of time. I got a year's worth of cow in the freezer. Dude, they cut the power. That's the first thing that happens. And every time I mention that, people are like, wait, wait, what? The first thing they do is cut the power. You lose all of it.

Oh, man. I mean, you need a root cellar. That's what you need. You need to be vegetarian like Jade because you don't have to deal with all this chaos. But I do have a couple of deep freezers, and I'm with you, Stephanie. But split the difference. I mean, you're talking, you're stepping over $100 bills to pick up nickels when it comes to your marriage. It's not worth the fight. Let's just split it half and half. Both of you are nuts and y'all can find peace on the other end. That was awesome. You're awesome,

Stephanie. We'll be right back. This is The Ramsey Show. I i'm john deloney joined by jade warshaw 888-825-5225 let's talk about every dollar the best budgeting app in the land in the world as some people might say and i agree with that statement because we are on lord of the rings that's right uh every dollar let's talk for real about this thing you need a budget right and there's a lot of them out there but they don't do what every dollar does which is making it very easy to stick to your monthly budget and also providing the guidance you need the ramsey way so that you can stick to your budget and accomplish your goals that's what this whole thing is about and so the best way to make the most of your money is by creating this EveryDollar budget.

It truly does help you stick to your monthly budget. It makes it so simple to plan your spending, to plan your paychecks. You can track your expenses and you can save money for the things that matter most to you. What I love about EveryDollar is it's an app on your phone or you can do it on your desktop. And I always say, John, that EveryDollar is it's an app on your phone or you can do it on your desktop. And I always say, John, that EveryDollar fills in the communication gaps with your spouse if you're married. It's real tough. It's like, yeah, I forgot to tell you I went to Publix. But Sam can open up the budget and see, okay, somebody went to Publix.

Usually it works like this. Hey, John, you forgot to tell me that you went to Publix or Guitar Center in my wife's case. Guitar Center, let's be real. That's your reality, John. But it's this app and you can open it up. It's in real time. You can see what's going on. And it wants you to track your transactions every single day.

So you build up this daily habit to where every day you're just looking at your money, which is so good. You keep a pulse on your spending and make progress towards your goals. So if you're interested in that, download every dollar for free. Again, that's for free. You can do that in the app store or Google Play if you have an Android. I don't know about the Android. All right. Androids are good. Androids are good. Are they? Yes. Look at Christian in there there christian in there are you the only one christian

with an android i am sorry for you i'm sorry hey america christian that's what i'm talking about let's go out to dallas d texas and talk to elizabeth hey elizabeth what's going on oh not much how are y'all doing? We're partying, dude. That's not true. We're at work, but you probably are too. What's up? So my question is I'm trying to figure out what the best way to get my family

out of this hole is with an anticipated car accident settlement. Okay, go for it. Well, there's kind of a little bit of a back story. So I'm married, but i've been single since january of 2023 um i have three kids um and i'm not getting any financial support whatsoever right now okay is the divorce in process just take him forever uh so he doesn't want to be with me but he doesn't want to get divorced. I obviously want to because there's no point in the tie. Um, but I can't afford to. Here's the deal. It's the

opposite. It's actually, he can go do a bunch of things that can destroy you. Yes. Yes. That's, that's a huge worry of mine. Yes. Um, so when you say it's too expensive, is there not an attorney that you can pick up for five or 10 grand? I know that's a lot of money, but this is a, this is a scary position for you to be in. I'm 100%. There is. The only problem is, is I, I was kind of in a college town,

so everybody wants, you know, five, four or five grand up front. Okay. And I have nothing like no money at all. Okay. Okay. Um, and it's scary. Uh, my, because you know, I'm at, I'm expecting a car accident settlement and I'm not divorced. So that also scares me because I feel like he's going to try to get it away from me. Yes. Uh, is it, is the car in your name or is it both of your names? No, I bought it before we got married. Okay. So the car is a hundred percent in your name?

Yes. Okay. Then the settlement should come to you. You should be fine. Um, okay. So my, uh, what about lost wages? Because I, I was out of work for six months because I dislocated my hip. So I wasn't allowed to work at all. Okay. Is that, is that coming to you? Uh, they, the attorneys have told me that I'm going to get lost wages. So. Okay. Well then I would not hear. I don't think if he tried to come after this money, I don't think there's any way he'd get it. Elizabeth, I can hear you're scared to death and you are projecting problems into the future and you're worrying about them in the present. Okay. Yeah. I would much rather you, do you have an opportunity to go earn some money right now?

So I've been working. Where are you working? I'm self-employed as a contractor. Doing what? Construction, remodeling, flooring, showers. Are you making any money doing that? Currently, no. In the next couple weeks, I'm anticipating a job that's going to pay me, you know,

four, almost five grand, except I'm also behind on my rent. Elizabeth, you have to stop this. You've got to go get a job at McDonald's, and you've got to get a job at Walmart today. I know you've got a lot of skills, but you're drowning and you're scared to death and you got little kids. And you got left and the guy's drowning you on the other end of the teeter-totter because he knows you can't afford anything right this second. Yeah. And you're spiraling and you're spiraling. You've been spiraling for over a year now.

And the only path through this is through this. And I'm only telling you that because I love you. And you can make $20 an hour in Dallas, Texas at both of those locations. And then as far as the situation goes with not having a vehicle, I mean, I have a vehicle, but it's technically totaled from the car accident. Well, keep driving it. I am. I just can't afford to vehicle, but it's technically totaled from the car accident. Well, keep driving it. I am. I just can't afford to put fuel in it right now. My ex-husband's kind of on my way to get around.

I know. You've got to go get a job. You have to go work. Do you have any buddies that for the first two weeks before you get a paycheck can just drop you off? I really don't have any friends. I had a friend, but she kind of just disappeared. How are you feeding your children right now? I get government assistance.

I get food stamps. And I've gotten that ever since he moved out just because of not being able to do that, you know. Yeah. When is the check coming in? I get a debit on the 12th of every month. No, no, no. When is the check for the settlement come in? Oh, it's supposed to be within the next 30 days.

Okay. The biggest temptation you're going to have is to go blow every penny of that. And what I want you... Yeah. Here's the deal. You're're gonna have a choice to make okay you're gonna have a choice as to whether you go finance a new car whether you go get some nice apartment for a minute because it's going to be a big check or if you get a friend somebody you trust and if you don't have that, then you go find a pastor at a local church or you call and find a counselor on government assistance for $50 an hour.

But you find somebody that will walk with you with this money. And if you play your cards right, you're going to put this money in a high-yield savings account, and you're going to get enough money to get an apartment, or you're going to be able to pay on the current apartment you have, and you're going to be able to put gas in your car. You're not going to go buy a new car, even though yours is ridiculous and it looks silly and it's been totaled, but it still drives. And you're going to go get two jobs,

and you're going to work, and you're going to work, and you're going to work. And this breaks my heart for you. But you can look up in nine months and have worked two jobs and kept this money in the bank and you're going to have a radically different outlook on life. And I want you to take $5,000 of this settlement and I want you to get an attorney

and get this divorce finalized. Yeah. Okay. I agree with you. I definitely agree. It stinks. stinks i know it stinks and i know this is going to feel like a lifeline it's going to be like oh man i've got it i'm made and it's it it's going to go faster it's going to go right through your hands like water if you don't have a plan and the plan has to be your your your standard of living that you have right now goes up one percent gasoline i'm not buying anything new i'm not one percent gasoline i'm not buying anything new

i'm not buying new clothes i'm not buying anything i'm buying gasoline and toothpaste and deodorant and soap and i'm going to pay rent and then i'm going to go get a job and then i'm going to go to the next level and the next level we're playing a two or three year game here yeah that man left you in a bad hole didn't he uh yeah and by By the way, if you get it finalized, the court will make him pay you child support. And I know single moms all across the state of Texas just laughed when I said that, but at least it will be court ordered, right? Yeah. I'm so sorry, hon. Hang on the line here.

Hang on the line. I'm going to hook you up with Financial Peace University with their course. It's going to tell you how to handle this money when it comes to you. And I'm going to hook you up with the EveryDollar app. I know you don't have any money in the account right now, but in 30 days you're going to have a lot of money in that account, and I want you to steward it wisely. Hang on the line.

We'll get you taken care of. We'll be right back. This is The Ramsey Show. Today's scripture of the day is Isaiah 48, 17. I'm the Lord your God who teaches you what is best for you, who directs you in the way you should go. The great and mighty George Carlin says, Some people see things that are and ask why.

And some people dream of things that never were and ask why not. And some people have to go to work and they don't have time for all that. I love George Carlin, the goat. All right, let's go out to Minneapolis. Not Minneapolis, but Minneapolis. Thank you, John. I've been working hard on that. And talk to Patrick.

What's up, Patrick? Hey, guys. How are you guys doing today? We're rocking on to the break of dawn brother what are you doing good good so uh uh i just had a quick question for you guys uh so uh i believe it was like a couple years ago um uh uh um i was I was with my dad and he had put me on all of the credit cards that he had. have and um uh i guess my question is uh how am i uh uh able to get myself so are you an authorized user on these credit cards oh yeah okay so yeah let's get off those yeah for anybody listening if you're an authorized user on a credit card all you have to do is call up the number because you've got your own card you can spend and it's affecting your credit all you have to do is call up the number because you've got your own card you can spend and it's affecting your credit. All you have to do is call the number and say, I don't want to be an authorized user anymore. And you have the ability to do that. So it's literally that simple.

And I would do that. Did he pull these credit cards in your name or are you on his credit card i am on his credit card okay that makes it easy that makes it easy then you can just roll that off yep just call him up and say i'm an authorized user on this account and i don't want to be anymore fantastic that on that yeah good call patrick hey and good for you for getting off your dad's stuff yeah let's separate this and be all growed up all right let let's go out to Kansas City, Missouri and talk to the mighty Bryce. Hey Bryce, what's up man? How's it going guys? Excellent. What's up with you man?

So, I guess I have a question here. I wanted you guys to slap some sense into me. So, I'm thinking about buying a new car. Just don't. Just kidding. Go ahead. So, it's a 2022 BMW M340i,

and cars is kind of my passion, but I just really wanted someone to talk me out of it, I guess. I make about $80,000 a year. I have about $3,000 in debt, and I wanted to put about $10,000 to $15,000 down on the vehicle. And then do payments for the rest? Correct. Yes. That's a great idea. I think you may, you want us to talk you off the ledge? Is that what you're calling for? So I guess, I guess I just know that I could put that money somewhere else so i've got two roads to go down i really want this car it's my passion but i've got this other road where i know i could take that money and build my wealth well instead of buying a car with what do you think is the wise

answer and what do you think that we're going to tell you to do so you're going to take me or you're going to tell me to take the road um to invest that money into something smarter um but yeah we're going to tell you we want peace for you flat out we want you to have financial peace we want you to be able to leave an inheritance we want you to have a good life financially we don't want you to be a slave to a lender. I think, you know, even if you're, you know, relatively new to the show, I think you can kind of get that even from listening to a couple hours of the show. But yeah, if I'm you, you've got $3,000 of debt to pay off.

And if you've got $10,000 to $15,000 to put down on this vehicle, you can pay off your debt. And then with whatever you have left, which is at least $12,000, can't you buy a car in cash? That would be so amazing to have a cash car. You already have a car, right? Yes, I do have a car right now. What do you have? That's the debt I have, actually, that $3,000 in debt. So I have a 2014 Mercedes right now that I've had for about five years. What's it worth? It's worth about $13,000, $14,000. So can't you sell that car and get 10 for it and then put your other 15 with it and buy

a $25,000 car in cash? So the idea was, so I have about $30,000 in the bank and I was going to take 10 out of that. I was going to sell the car I have and use 10 from that and do possibly $20,000 down. So 15 to 20. Not down. That's where we're differing. You and I have two different schools of thought. I don't want you to go into debt ever again. Not for depreciating assets. Yeah. It's going down in value and the borrower is slave to the lender, period. Yes. And if you want to talk about better things that you could be doing with your money, whether the payment, let's say the payment's 500 bucks a month.

Do you know what that is over the course of time? You're locking yourself into a life of car payments because you had a car payment before. Now you're going to have a car payment again. And before you look up, you will have had car payments for 20, 30, 40 years of your life. And I don't have to tell you, if you plug that into an investment calculator, the millions of dollars that you're throwing down the drain. And you don't even have to. Like some people get locked into car payments because

they feel like they don't have the money sitting around to get out. You've got $30,000 sitting around to never do this ever again. Yes. Tell me about this word you keep using, which is like, it's like a new fangled word that is super hemorrhoid inducing for me. Passion. They're my passion. Oh, they're my passion. Tell me about this passion of yours. So it's just, it's really the only thing in my life that I don't, that I absolutely love is cars. I don't really, I mean, I'm 24 years old. I've got a job. I don't really have many hobbies. I

don't really play any video games. I don't play any sports. Cars is, is my thing. And I know the number one thing that you guys talk about is to, uh to not have a car loan and to be paying $500, $600, $700 a month on a car. That's why I'm second-guessing myself. And you should be. Yeah, you should be. Listen, I could tell you right now. You want to know what my thing is? What's that?

Million-dollar houses. Yes. My things are guitar equipment. You you know i'm not even that good but i just love buying it trips to europe that's my thing like i think we all have a thing that's like yeah i i would love that that would be great if i could do that all the time but there's uh there is a little thing called reality and we should live there there's another word um it's a it's an ancient greek word um uh i think it's greek and latin and english at the same time and it's called maturity and it's called being able to separate like what i really want

versus what is reality what i have yeah yeah and and i know that if i don't um end up getting this vehicle and i put this money somewhere smarter, my future self will thank me for that. It sure will. In the moment right now, I just, I don't know. Listen, hey, you do know, you do know, you do know. There's two types of dumb choices you can make. There's the dumb choice where wise people have done it before and warned you and say, dude, if you do that, you'll die. Like, don't do it. I've done it before. It's not good.

Right. And you have the opportunity to learn from that dumb choice or do it anyway. And then there's a dumb choice where you're like, it's my first rodeo. I don't know any better. I thought I was doing right. And it still turned out to be a decision that was dumb. Right. Don't make the first dumb choice.

We're telling you. We're telling you, dude, if you do this, you'll die. Like, don't do it. Like, we're telling you we're telling you dude if you do this you'll die like don't do it like financially it's not good for you john and i have both made we've done everything stupid in the book when it comes to money and we're telling you you are going to regret this and you're not going to die but you're going to regret this here's the other challenge and and i'm not saying this to make fun okay this is me being as honest as i can i want you to challenge yourself to get more hobbies to get some guys to hang out with to start doing some other things because if you notice jade and i both rattled off multiple things that if we were just given the wild west worth of money we would go spend stuff on

because we have multiple passions about across multiple different things and that's just the idea of a well-rounded person. If you find yourself at 24 and you are fixated on a thing so much so that you're going to act on it against your best interest, that's called an addiction. Okay? So I want you to begin to expand your horizon. Go to races. That's all cool. But also go to comedy shows.

Go watch movies. Get some guys and go bowling. Learn how to fish. Do some other things that don't have such a multi thousands and thousands of dollar entry point into finding joy. And the things you get good at are the things you're going to get passionate about over time. Go practice some other things, man. And thanks for letting us pick on you, Bryce. We love you, dude. And that's a great car. You just can't afford it. Hey, thanks for listening to us, America. This has been the ramsey show We'll see you next time.