The Ramsey Show - App - You’re a Cheapskate! (Hour 3)

Episode Date: September 25, 2023

Live from the headquarters of Ramsey Solutions, it's the Ramsey Show, where we help people build wealth, do work that they love, and create actual amazing relationships. George Campbell, Ramsey personality, is my co-host today. He is also the co-host of Smart Money Happy Hour and the host of the very popular new Ramsey Networks production called The George Campbell Show on YouTube. Campbell with a K. Be sure and check it out. Lots of good stuff going on there. Open phones at 888-825-5225. Bethany is in Philadelphia.

Hi, Bethany. Welcome to The Ramsey Show. Hey, thanks for taking my call. I really appreciate your time and your wisdom. Sure. What's up? Well, first I wanted to say thank you for the opportunity to talk with you both. George, I think Mia Jane is the most beautiful girl in the whole

wide world. Oh, thank you. And Dave, I have on my bucket list to have dinner with you and Sharon someday. So I'm not sure if that's true for on this side of heaven, in heaven we will probably have a great time yeah we'll pull up to a feast for sure how can we help today absolutely so my biggest question is i'm wondering if i'm resuscitating a corpse in my family business if it's something that i can keep going on. That's metaphorical, right? I just want to make sure. Exactly, exactly. You never know. Am I doing a good job? So for the most part, my parents retired early and decided to start a coffee roasting business in 2005. My dad suddenly passed away in 2019, and I was given the opportunity to keep it going. Okay.

So I left my full-time job, and thankfully my dad taught me everything about roasting coffee already. And I think that this was what God prepared me to do, but I'm desperate to know, am I really doing a good job or are you making money? I am. So how much money are you making? So in 2020, I don't, my net profit was 7,000 in 2021. My net profit was 7,000, but in 2022, my net profit was $25,000. And then so far this year, my net profit is $52,000. What'd you do different that caused the spike? I'm busting my rear end. So I'm working 24-7. I know you say it's a treadmill.

Well, you're selling coffee more. How are you selling more coffee? I am in two different farmer's markets. I'm in 30 different wholesale. That you weren't in when you made seven. Right. So you've created distribution, and you're doing some kind of marketing because they're buying it. Yes, and that is actually my degree is in marketing.

Good, because you need to sell some coffee. I do. How big is the team? Is it just you? Do you have people working for you? Is it family? So I took over right before COVID and then had to let five people go during COVID. So it's just myself and my husband who retired from construction because we're dealing with cancer number two. Who's we? John, my husband. Your husband has got cancer? Yeah. Oh, my gosh. For the second time? Yeah, for the second time. Oh, my gosh.

Sorry. So, thank you. All right. So, yeah, you are, I mean, this is an Entree Leadership call. For those of you who don't know, I do a podcast called Entree Leadership and I had a number one bestselling book by the same title on how to run a business. And there are five stages in business. What she was referring to is the first stage is the treadmill operator

where you're by yourself. All of the revenue and production is dependent on you to level up and move to the next stage of business. You've got to get it to where all the revenue and the production is not dependent on you. And that is your next move. You've got to level up on that. So if you are,'re you know you have

reason for hope okay your hope i mean because the numbers are giving you reason for hope agreed i i totally agree but i want to make sure that i'm not just this is not a facade in my brain well if if the 52 000 is not there then it's a facade but if you have 52 000 versus 28 versus seven that's called a trend okay and so i mean that's kind of exciting i mean if you can keep that hockey stick up into the right movement going you're at 500k in 20 minutes the way we're going i mean this is you got you know and you do need to get to 500 i mean this is not it's not it's not fun at the level you're at all you do is work right now you smell like coffee all the time you smell coffee all the time everything's about coffee you're sick of coffee right now right yeah so you i mean you i've been there not with coffee but with you know the smell

of paper books right same crap so uh anyway right yeah so you you got to get the next thing we need to start talking about who we can add to get the production off of you and how that increases profit because you're out there selling more and then who we can add that's out there moving the product into some of these distribution outlets called a salesperson and that'll the positional revenue justify itself very quickly but where you need to where you would say i'm not resuscitating i'm not i'm not uh i'm i'm not in a facade i'm not in self-denial is where we're making very solid wise steps to gently grow this business and get it all off of your back. Okay.

You need to do that for the sake of the business. You need to do that because you're fighting cancer inside your house, and that takes a lot of energy. Yeah, it does. And it's okay, by the way, if you say, we're going to fight cancer, we're closing coffee bean down, and I'm going to go get a job that I don't have to think about all this crap, and I can just love my husband while we're fighting cancer, that'd be an okay move.

But that really wouldn't be because the business failed. It would be because you don't have the extra energy to do both things right now. Right. Yeah, it's a little tough. Yeah, I'll give you permission to do either one. Okay. Give yourself permission to do either one. Okay. Give yourself permission to do either one. You're not a bad person either way.

And your dad didn't leave this to you to trap you. He left this to you to be a blessing. At the point it ceases being a blessing, it's no longer from your dad. Thank you for saying that. Yeah. I told our kids around here, every time we have our Dave Dies This Year meeting, where we go over everything you all are going to do around here if I die this year, I tell them every time we are our dave dies this year meeting where we go over everything y'all are going to do around here if i die this year i tell them every time we are together i tell the leaders

do not keep a business unit a business concept alive under the name of dave always wanted to do now bullcrap dave's gone okay you know so that you you got a release from that but you're a good lady you got a lot on your plate. And I think you got a business that will work here if you have the bandwidth to do that and fight cancer. And I don't know if I would, but, you know, that's your and John's choice. So hang on. We'll send you a copy of the book Entree Leadership. And God bless you, darling.

You're tough. You're a warrior. This is The Ramsey Show. George Campbell, Ramsey Personalities. My co-host, David, is in Chattanooga. Hi, David. Welcome to the show. Hey, Dave.

Hey, George. Good to talk to you today. You too. How can we help, sir? Well, I'm hoping you can help me here with something. I'm a renter. I have zero debt. You too. How can we help you? 15%. I make about $125,000 a year. I have $200,000 sitting in the bank doing nothing. And I'd like to get a house with some property. And I'm just checking in with you to see what would you do if you were me? It sounds like you're ready to be a homeowner. You've done really well, man.

What's stopping you from using a large chunk of that $200,000 as a down payment? I'm a terrible procrastinator, I think. So we're 49, we're renting still, you're in Chattanooga. Have you started to look at properties in that area to see something reasonable in your price range and your budget? Nothing just other than glancing at the Internet, but I have not seriously begun looking. Okay. Generally, when I procrastinate on something, it means I'm, with me,

I don't know about you, but with me, it means I'm either distracted with other things that are better, or I'm afraid of facing that thing. Yes, probably the latter. Okay, what is it you're afraid of, do you know? Just spending a chunk of money and going into debt. Making a mistake. Right. into debt. Making a mistake. Right.

Afraid of making a mistake. Because it's a huge, I mean, it took forever to get the $200,000. And screwing that up would just devastate you. That's how I would be if I were in your shoes. Does that sound right? Yeah, it actually didn't take too long. I've just been working nonstop. How long did it take?

The last four... About five years. Okay, so let's say if you saved up $205 years, let's say you had a $200,000 mortgage. Could you pay it off in five years? Yes. There we go.

Okay, so you got a four hundred thousand dollar budget then you make 125 you have a great income and so what's stopping you from putting a huge down payment as big as you can go keep an emergency fund aside in that savings account but outside of that let's put that money down on the house let's get aggressive at the mortgage and pay this thing off in our early 50s and retire with dignity and money in the bank. You said something about a piece of land. You want a little space? Yeah, I want some elbow room.

What are you renting now? I'm in a pretty good spot. It's nice and quiet. I pay $700. Okay. Well, the other thing that's causing you to procrastinate is you're a cheapskate you don't want to spend money is that a fair assessment you're my kind of people man it doesn't sound like you have any lavish highlights yeah i like to get value for my

money yeah let's say yeah that's what the frugal that's what we'll say is that a cheapskate cheapskate coming from me is love language don't take it wrong all right so uh yeah you just don't want to spend the money you got 750 rent my god and you got a place you already like if you could buy that place for 750 bucks a month you'd already bought it right um well like i said i'm not uh i'd like to get out where there's uh some wide open space a little more even than you got now okay yes i there's i'm in a little town here so yeah it's just city streets and sidewalks but oh you're not you don't have elbow room where you are then okay all right so dude just jump on the dadgum internet and pull up like uh real tracks or something and start looking at property that's for sale i do it all the time and

i'm not even looking for anything i'm just like looking at real estate and i think you need someone in your corner to help move this along because you've been procrastinating and so i would also jump on ramsey solutions.com get in touch with one of our ramsey trusted real estate pros yeah that's a good idea they'll start going hey david here's seven properties based on everything you told me that are in your price range yeah i think we need someone else to help us get a little more excited and on fire about this movie i mean if they find you're not going to find something if you're not looking gotcha you know so start poking start poking around it doesn't cost anything to look and then when you find something you don't need you're not in a rush you don't have to be you don't have to buy something stupid just to buy something there's no

uh false urgency here but dude you do not need to be 59 and still not own a house and have 500 000 in the bank. So your current trajectory needs to change. Agreed? I agree. Let me get your input on this TSP, this Thrift Savings Plan. So you're a federal employee? Yes.

Yeah. What do you do? I work for a utility. TVA? Yeah. Okay. Yeah. What do you do? I work for a utility. TVA? Yeah. Okay. Cool. All right.

And, yeah, so TSP's fine. I mean, we work for federal employees for years. We always put 80% into the C, 20% in S, and 10% into I. That's what I always do when I'm doing with tsp the c plan's done really well the others aren't they're not great but they're doing good and that gives you good diversification and you've got the match and just crank that puppy up but i would crank it back down to only 15 that you're you're putting in 16 you said i bank it back down to 15 and i throw the rest of it at this house you get the house the house paid off, but the land and house, the elbow room place that,

but dude, where you live is some of the most beautiful country in the world. I mean, you can get a piece of ground out there with some tree, some Tennessee trees on it. Oh man, dude. I mean, you, you ought to be able if if you because you're willing to live outside of chattanooga a ways a lot of tva stuff going on small town outside of chattanooga i got an idea what we're dealing with and so yeah that's that's fine yeah you're in good shape and um but yeah find you um what you're saying is is the land and you tell the smart or tell the uh real estate agent the ramsey trusted real estate agent when you call them that the land is the most important part for you the housing is the second most important part because some people want a house with some land you want to land with a house and um yeah i yes you need to get your right, George.

And the thing about them shoveling stuff at you is they're not going to pressure you into buying something you don't want or need. But they are a great source of information. And agents run into stuff that's not yet listed. Yes, some off-market deals. They call you up and go, hey, Farmer John over there, he's got a place. Well, now is a really good time if you've got some money to be getting into real estate. Absolutely a great time to buy. You could even maybe get one of those things called a deal.

Hasn't been seen in a while. I hadn't heard of those. Because everyone's spooked by the interest rates, but David's out here with 200K. Don't use the word deal around real estate. That's a weird word. But yeah. David needs that to feel like he can justify this purchase. He can feel like he got a deal. He's like've been frugal got five percent off got to get value

for my money there you go dude go buy something give yourself a timeline i'm gonna look aggressively until i find the right thing within 18 months or some number i don't care but don't just kick the can down the road do nothing and look up with a bigger pile of money and no real estate. You want to be in the real estate game as a long-term part of your life and your portfolio because it goes up in value, because it's the largest line item. A 750 rent is not going to be a 750 rent forever. About the only thing you can count on with rent is it goes up every year. So 100% of the time, 10 years from now, rent's higher and real estate values are higher. 100%. That's a pretty good chance. And your payment's not higher because you took a fixed

rate 15 year where the payment's no more than a fourth of your take-home pay. And you'll have it paid off before 10 years gets here, the way we're talking about. So you've got a good plan here, but you need to execute. You need to get up off your tail end and go get something. Similar to those who have those low mortgage interest rates, he's got this low rent that he's just so hard to let go. He doesn't want to have a higher payment, but he's also going to be a homeowner with an appreciating asset. Well, he'll pay it off in a short period of time.

It gives you a reason to work a little more. You can tell he's going to want that debt out of his life fast. Oh, good. I love it. Love it, love it, love it. This is The Ramsey Show. George Campbell Ramsey personality is my co-host today. A couple things happening here around Ramsey.

One, we launched a podcast today called Real Estate the Ramsey Way. Brand new podcast on Apple, Spotify, YouTube, the Ramsey Network app, wherever it is you get your podcast. And what it is, it's the best of real estate calls from this show in a whole series that we developed into a podcast. So if you want specific real estate stuff curated for you, jump in on there, check it out, Real Estate the Ramsey Way. Second thing is one week from tomorrow for most of you, October the 3rd is the launch date for the brand-new Dr. John Deloney book. Those of you that ordered one already,

it will be shipped to where it lands at your place sometime right around then. It's called Building a Non-Anxious Life. We live in a very anxious world, anxiety-ridden world, and there is a way to build a life to deal with a lot of that. And Dr. John has laid that out with the six daily choices to help you do that. It is a powerful book. Very proud of this book. It will be.

We've already sold a bazillion of them. It will come out as a number one bestseller, I'm sure, based on the numbers anyway. It's just crazy. So unless somebody just has an unbelievable blockbuster the same week and beats us out. But this thing's gone bananas. It's very popular. So $20 book. But if you preorder it before launch date and before October the 3rd, you'll get $75 in free bonus items, including the audio book and the e-book.

So we're going to bribe you to buy it early. That's what it amounts to. So because it helps with the marketing, it helps us get all the numbers up. And that's perfect for us. We love we love being generous. So building a non-anxious life, Dr. John Deloney. You can get that at RamseySolutions.com in the store on the debt free stage right outside my window right here in the

lobby of ramsey solutions brad is with us hey brad how are you doing good today welcome good to have you where do you live uh eastern iowa just north of uh davenport iowa okay miles yeah fun welcome to nashville how much debt have you paid off 104 000104,000. I love it. How long did that take? Two years, eight months, eight days, almost to the hour. I love it. Very cool. And what was your range of income during that two years, eight months, and eight days? $105,000, $110,000. Cool.

What do you do for a living? So I've been into trades all my life. I was a journeyman, sheet metal worker, stainless steel welder. And now I've taken some of those support skills and i work for a commercial roofer oh wow very good okay yeah and doing well congratulations thank you good work so what kind of debt was the 104 000 it was uh it was my home yeah look at you with a paid for house a weird A weird guy. Welcome, man. Good to have you. Good stuff. What's this house worth?

So it's not a big number. It's only $155,000. But yours? It's all mine. Yeah. Nobody else getting that. It's got zero payments. That's the only number we care about.

Yep. It's awesome. Yeah, we've done detailed research. 100% of the foreclosures occur on a home with a mortgage. So yeah, there you go, man. Good stuff. Well done, man. How's it feel to be free? percent of the foreclosures occur on a home with a mortgage so yeah there you go man good stuff well done man how's it feel to be free so it feels awesome um but one thing that um when i went to make my final payment um i was a little disappointed because there was no fanfare or party at the bank no confetti and uh and you expected

some huh i thought maybe they'd be a little excited too yeah yeah they're kind of disappointed actually they they like seeing you around there oh my gosh that's so fun good for you yeah a buddy of mine is a country music guy around here wrote a hit song and when it hit they uh he had a farm at uh farm bureau by at the farm bank what do you call farm credit farmer's credit and he went over and paid it off and they said we'll see you and he said no you won't you'll never see me again i I'm gone. Good for you, man. Congratulations. I love it. Well done. So what started you on this journey two years and eight months ago?

So it started way before that. I've known about you for many, many years. And I was married and I got divorced four years ago, actually today, four years ago today after 37 years. Oh, I'm sorry. And I thought, you you know this is my opportunity to see if this stuff really works like i believe it will it works yeah it works so i had nobody to answer to but myself nobody nobody you had to convince anymore yeah no yeah i'm sorry for that

but i'm happy you did it congratulations thank you well done wow so two years after that you decided i'm gonna pay off this house did you just have the mortgage at that point no other debt and you went i don't need this thing hanging around anymore like a pet so when i got divorced i didn't have any debt and walked away with a little bit of cash and took your guys's advice just wait a year at least till you do anything. I only waited about eight months, but it was hard to pull the trigger to let the cash go for the down payment. And then I knew I did the 15 year.

I knew I wanted to pay it off early. So that first, not the first week after, but the week after that, I started making an extra 25 bucks a week extra payment i went back into my budget that first month well i can squeeze out hundreds of dollars every week and i had it down to where it's going to be about five and a half years and i did fpu beginning of last year and i talked to my coordinator Teresa Hart outside of class and because I was funding my 401k and IRA full 100% and not doing it the Ramsey way and I

asked her is that the right thing to do at my age and she asked me one question she said why would you want that debt i said well i'm gonna run some numbers in and uh then i got it down to where i could have it paid off in about three and a half years i just kept squeezing the budget and got it down to two years and eight months and um wow you just you were living on nothing i mean you were throwing 50k a year at this thing yeah it um i mean i was putting 65 to 80 percent of my monthly take-home pay to this mortgage wow to get it done i mean there's there's some weeks i take 50 bucks for groceries and the rest of it went to the uh to the mortgage now that you're free was it worth it oh yeah in spades do it again huh yeah well i'm

not gonna do it again i said you would you would if you had to yeah no thank you no thank you i'm good with this house yeah i paid for a house by the way yeah i love it well congratulations man thank you very so there's there's two other people i'd like to thank also while i'm up here and one is tammy she um she's a good friend and when i would start to put these numbers together and start squeezing things down, she was the one I would bounce things off of to make sure I wasn't forgetting something, make sure I was on the right track, and she was a good friend.

Then there's Becky. She was actually my real estate agent when I bought the house and became a good friend, and she'd check in every once in a while just to make sure I was on track. Make sure you're eating yeah she did that too yeah he quit eating but he got out of debt way to go man well it sounds like you got some good people in your career in your

in your corner encouraging you you gotta have that you gotta have cheerleaders and people you trust that uh that you trust love you enough to tell you the truth and uh that's handy so a good fpu coordinator good stuff very good stuff man so what's the next big thing um i'm gonna start doing some work on the house there you go i um i i put a lot of stuff on hold you know and something broke or whatever can i patch this together can I do it myself or whatever? And I need to go back through and just start updating some things. Mm-hmm. Okay.

Yeah, you'll have a whole new place in a year or two then. I hope so. No payments in the world making $100,000 and something, yeah. Yeah. It's a pretty cool place to be. Yeah. How old are you? 59.

Yeah, so you're ready to go. Way to go, man. Thank you. So proud of you. Thank you. That's good stuff. Very well done. Hey hey we've got the live and give bundle for you this is baby steps millionaires book which is your next stop and

of course the total money makeover book and a financial peace university membership and i'm sure you got good use for all of that with all these people in your life so congratulations i'm proud of you good good bounce back for you thank Thank you. Gave you a good goal, and you turned it around beautifully. Very, very well done. All right. It's Brad in Davenport, Iowa area. $104,000 paid off in two years and eight months. House and everything.

Making $105,000 to $110,000. Count it down. Let's hear a debt-free scream. Three, two, one. I'm debt-free! Yeah! Yeah! Woo-hoo-hoo! I love it!

This is The Ramsey Show. Our Scripture of the Day, Proverbs 15, 22. Plans fail for lack of counsel, but with many advisors, they succeed. The version I like is, in the multitude of counsel, there is safety. Theodore Roosevelt said, the only man who never makes mistakes is the man who never does anything. That's true. I like the other one. I'm just keep adding to these today.

But Henry Ford said, those who never make mistakes work for those of us that do oh i like that that's a good one that one's very good very cool stuff so george you have a blow up on uh freaking car payment video on youtube it's like gone viral it hit hit a nerve. Yeah, I mean, like half a million views almost immediately. And what are you doing? You're just saying the car payments are stupid. Same thing you've been saying, Dave. I said it more interestingly, I guess. That's true.

You did do that. Just kidding. So what did you say about car payments? Well, we walk through the numbers. You know, I like to look at the research and the facts. And I talk about the fact that auto loans have now surpassed student loan debt as far as consumer debt goes which blew my mind 1.7 trillion yep and there's 108 million auto loans out there in the u.s alone okay and there's not that many more adults in the u.s which tells you most people what was the shocking thing that made it go viral well we've walked through the

idea that if you invest that car payment it could turn into millions of dollars we talk about the idea that you're paying for this depreciating asset every month, and by the time you're done paying for it, that $40,000 car, you paid $50,000 for, and it's worth $16,000. Best. And not only, and here's the craziest part, Dave, it had the least amount of hatred of any of the videos we've ever done, 3,300 comments. Wow. And people from the car business. They started jumping in here too. Positively. Yeah. This is crazy. One guy said, I've been in the car business for 49 years. He said, we joke out loud. It's not a car. It's a debt system. Cars have financed my life all these years. Your advice is 100% right on. I'm a finance

manager at a car dealership. You're spot on. I see people making payments that are 40% or 50% of their paycheck just for status. I drive a Nissan Kicks that I paid $20,000 for even though I can afford much more. This is the finance manager at the Nissan dealership. He did say Nissan dealership, yeah. Whoa. This is wild. And all these folks folks and i worked in the automotive industry for

decades did detailed consumer demographic research the disturbing truth is the auto industry is addicted to the consumers you're describing people lease or buy more than they can afford they replace the vehicle sooner than they need to and this industry enables this by financing refinancing negative equity on traded vehicles we get those calls all the time okay how are you that underwater well i rolled over the negative equity and they're offering all the zero percent financing which is paid for by the way by them increasing the transaction price it's not a generous gift from the dealership and so they're they're saying what do they find where do they find your youtube video on youtube you can just search george camel on youtube the video is called why is no one talking

about america's wealth killer is it on the george camel show it's on the george camel show that's right oh yeah okay so this was a video that the team put together it's 10 minutes long and of course it's filled with snark and memes and research and humor and all that fun stuff but i just wanted to make one video to go hey if someone calls in they go why shouldn't i finance my car i can just send them this link and go here's why there you go watch this 10 minute video kevin is in Irvine, California. Oh, that's not Kevin. I pushed the wrong button. That's Kevin.

Hi, Kevin. How are you? George, I am one month ahead of you on the fatherhood train. Oh, congratulations. I'm a parenting expert now, so let me know if you need any advice. Cool. One month into this. I've got twice as much experience as

you that's right oh that's perfect thanks for calling in man how can we help so so uh related to being a father i was just talking to our smart best friend about opening a 529 plan and i said how what's the yearly limit of what i can put in he said there isn't a yearly limit i'm like oh well i don't want to put in too much because what if our kid doesn't end up going to college? And he said, well, with the new rules, you can roll whatever isn't used for college right into your Roth IRA. And then I said, hang on,

then why would I ever invest in anything except for the 529 if it's essentially a Roth IRA with no limits that I can get to early for educational purposes. It does have limits on what you can roll to the Roth. It's $35,000. And you can't do it until the kid is 30. Oh, that's the deal I was missing. Yeah.

So there's some stipulations. That's the deal I was missing. Yeah. There's all kinds of restrictions on the rollover that make it not that good a deal. Yeah. And you can do it. You can do it, but there's all kinds of restrictions on the rollover that make it not that good a deal. Yeah, and you can do it. You can do it, but there's restrictions on it. And the, yeah, yeah, yeah. No, I would not overfund your 529.

In today's world, I would underfund your 529. Gotcha. Okay. Because you probably are going to have other wealth, especially if you're following us, that you could pay cash for whatever they want to do for education. And, you know, we're talking about a two-month-old, right? Yeah. Okay. The higher ed landscape is going to change so much in the next 18 years. As the student loan epic failure debacle unfolds and pops this bubble they have been overcharging for too long and it's come home to roost and people are not going to college

in record numbers um and that's going to drive the demand the lack of demand is going to drive the price down and um particularly for stupid degrees and that kind of stuff which your kid wouldn't get kevin but um but anyway that's all of this to say the landscape's going to change dramatically on how we acquire knowledge in the coming 20 years. I'm not saying colleges are going away or going to become unimportant. They're just going to become less important, and they need to become less important. They've gotten out of control.

Do you have some sort of guideline as to how much I should put into it then? Because my hope is to fund a bunch of it up front, so that way it can grow a lot in the next 18 years. Yeah, I'd probably throw, if you want to get really aggressive right now, throw $10,000 in for a couple years. That'll probably put you up around $100,000, $120,000 when it's done, if you never added anything to it. And talk to your smart investor pro, run some calculations on it.

But if you pop $10,000 in two years in a row or something, you're probably done. And then other than that, just go become wealthy, and it gives you other options for what you want to do with the kid. Cool. You're going to be self-insured. And an everyday millionaire. Oh, awesome. Yeah, you're going to be in good shape.

I already put $15,000 in, so you're saying be yeah you're gonna be in good shape so yeah i already put 15,000 in so uh you're saying just drop in another five and then call it good for the time being correct yeah yeah and you just all right then just watch what happens and see how it unfolds and you know calculate what 20 would become in 18 years i'm guessing it probably 140 or something like that uh and that's going to be more than enough for whatever. And you'll be able to supplement from there, and they may get scholarships, or they may decide to do coding for $10,000, which is what it costs right now to get a certification in coding, and you can make $100,000.

So why you go spend $500,000 for a $38,000 job anymore is crazy. So you wouldn't. So anyway not not against higher education i'm just saying that the landscape is going to change there's too much market pressure for it to do otherwise so good question congratulations on the new baby it's exciting yeah that's fun so uh yeah what are you gonna do with all me as uh at 529 have you disclosing this yet uh i this yet? I mean, my parents have already generously offered to start it with the starter money. Oh, that's fine. So they're putting the seed money in there instead of a normal gift. We got too much crap already around the house for this baby.

It's amazing how much stuff a baby can accumulate with just gifts. You need a minimalist baby. So I'm like, give us money instead. This girl's going to be doing it right. And again, like you're mentioning, we can cash flow the difference. If she happens to go to an expensive school and that's her dream and we've got the money, she's going to go to that school, Dave. Because like you said, she's got me wrapped around her finger already.

Oh, definitely. She wants a horse. She's getting a horse, Dave. Just kidding. I have my boundaries. She's a week old. Yeah. You know how I feel about horses.

We're having a good time. Even George would get up. Don't put that evil on me, Ricky Bobby. Oh, yeah, I'm just saying, you're going to get yourself in deeper stuff here. Hey, guys, holiday season's coming up. I need to remind you that we're doing something special. There's no reason for you to be in debt. Why don't you not go in debt for Christmas and start thinking about that now

so you did that on purpose? Because they announced this year Christmas is in December. It shouldn't be a surprise. So it doesn't sneak up on you or anything. Can you tell us the date yet, the exact number? I mean, I know you've got the skeletons out front of your house right now and the pumpkins, and we're talking about Christmas, but I'm not talking about Christmas. I'm talking about you

not going in debt for Christmas. So, jump on to EveryDollar.com. They gave me a slash. EveryDollar.com slash Dave. I've been wanting a slash. About time you got your own website. And now it's $65 for every dollar for an entire year. Every dollar premium, and that connects to your bank.

You can do the free version anytime you want, but this is the premium version for only $65. You can start right now, and if you're on the EveryDollar app, you can go to Christmas without debt. That puts this hour of the 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. Hey, it's George Camel. If you like what you heard in this episode and want to know more about getting started on the Ramsey Baby Steps, go to ramsesolutions.com and click on the Get

Started button. We'll help you figure out the best next step for you based on your specific situation. That's ramsesolutions.com and click Get Started.