Transcript

Take Control of Your Finances by Setting Boundaries | February 9, 2026

From The Ramsey Show · Episode page · Watch on YouTube

· 2 h 8 min · 23,941 words · 491 timestamped sections

This is the full, timestamped transcript of "Take Control of Your Finances by Setting Boundaries | February 9, 2026", an episode of The Ramsey Show published February 9, 2026 (2 h 8 min, about 23,941 words). It mentions 11 people, works and ideas, including George Camel, Mario (Sherry Coleman's brother), Financial Peace, Dave Ramsey, Viatical settlement.

What this episode is about

The discussion centers around financial boundaries in relationships, highlighted by a caller's experience with a partner who has been unemployed for over two years and expresses distrust regarding financial management. The hosts explore themes of financial abuse, the impact of long-term unemployment on relationships, and the importance of setting clear financial boundaries to foster healthier dynamics.

Key takeaways

  • Staying in a relationship solely for kids? That's parenting, not partnering—choose wisely.
  • When financial discussions crumble into blame games, it's manipulation masquerading as a partnership.
  • Two years of unemployment isn't a 'slump'; it's a statement—set boundaries or risk being trapped.
  • When a partner’s 'value' is tied to unprofitable investments, redefine what 'support' truly means.
  • Counseling may be a path to healing, but remember: your safety and stability come first.

Who speaks in this episode?

What is discussed, and when

  1. – 15:00: George Camel, Dave Ramsey, Mario (Sherry Coleman's brother), Every Dollar
  2. – 30:00: George Camel, Delete Me
  3. – 45:00: Mario (Sherry Coleman's brother), Health Trust Financial, Dave Ramsey, Fair Winds Credit Union
  4. – 1:15:00: Financial Peace, Christian Healthcare Ministries
  5. – 1:30:00: Every Dollar, George Camel, Mario (Sherry Coleman's brother), Fair Winds Credit Union
  6. – 1:45:00: Every Dollar, Dave Ramsey
  7. – 2:00:00: Dave Ramsey, George Camel, Financial Peace
  8. – 2:07:44: Financial Peace, Viatical settlement

Notable quotes from "Take Control of Your Finances by Setting Boundaries | February 9, 2026"

  • We'll take your money questions, your work questions. They all kind of go together. We start off with Madison in Salt Lake City. Madison, how can we help today?
    about Mario (Sherry Coleman's brother) · at
  • Work for a while, then you need to make sure the money's still showing up. And that's why Xander is our go-to. They make it super simple to get the right coverage at the best price. No pressure, no upselling.
    about Xander Insurance · at
  • Delete Me's privacy experts find your personal info on these shady data broker sites. They get it deleted and they keep it gone. It's like having a digital cleanup crew that scrubs your online.
    about Delete Me · at
  • Okay. Well, here's the good news. you came to the right place. George is going to walk you through this, but you need to have this mindset as he walks you through this. You're actually not stuck.
    about George Camel · at
  • Their focus is simplifying health insurance and serving people with empathy. No pressure, no games. They give you clear, unbiased advice that fits your life and your budget. Most of.
    about Health Trust Financial · at
  • Self-employed, between jobs, or you just need something that fits your budget better. CHM has been around for decades, faithfully serving the Christian community. And many…
    about Christian Healthcare Ministries · at
  • Hey guys, Dave Ramsey here. Every day on this show, we help people work through real money problems and figure out what to do next. Now you can get that same kind of help anytime with Ask Ramsey.
    about Dave Ramsey · at
  • On credit. And it was a major kick in the stomach knowing we knew this day would come and we just weren't ready. And it was pretty horrible to have to worry about money at that…
    about Financial Peace · at

Who and what is mentioned in this episode?

People

  • George Camel — Person · Co-host · 6 mentions · first at
    Co-hosts the episode and provides tactical financial guidance (budgeting, debt payoff, investing, insurance) across multiple calls.
  • Mario (Sherry Coleman's brother) — Person · Co-host · 5 mentions · first at
    Co-hosts the episode, leads multiple caller segments, and frames advice using Ramsey principles plus career guidance.
  • Dave Ramsey — Person · Referenced host / network figure · 7 mentions · first at
    Referenced as the flagship personality whose principles (Baby Steps, term life guidance, anti-debt stance) underpin the show; appears in ad-read dialogue and is referenced by callers.

Concepts & topics

  • Financial Peace — Concept · Core topic · 3 mentions · first at
    Central theme of the episode, discussing financial stability and debt freedom.
  • Viatical settlement — Concept · Key argument · 1 mention · first at
    Discussed as a financial strategy for terminal illness cases.
    Question is, I have a Smart Investor Pro friend that, handles my finances, and we were able to do a life, Viatical settlement on a $500,000 life insurance policy. my cancer is terminal, by the way.

Sponsors

  • Every Dollar — Product · Sponsor · 6 mentions · first at
    Budgeting app promoted as a tool for financial peace and transformation.
    Brought to you by the Every Dollar app.
  • Xander Insurance — Company · Sponsor · 1 mention · first at
    Promoted as a provider of term life and disability insurance.
  • Health Trust Financial — Company · Sponsor · 3 mentions · first at
    Promoted as a service for simplifying health insurance.
  • Delete Me — Product · Sponsor · 1 mention · first at
    Service for removing personal info from data broker sites.
  • Christian Healthcare Ministries — Company · Sponsor · 1 mention · first at
    Promoted as a budget-friendly health cost sharing ministry.
  • Fair Winds Credit Union — Company · Sponsor · 4 mentions · first at
    Mentioned as the studio location and a financial service provider.
    Normal is broke and common sense is weird. So, we're here to help you transform your life. From the Ramsey Network in the Fair Winds Credit Union studio, this is the Ramsay Show.

Full transcript with timestamps

Brought to you by the Every Dollar app. Start budgeting for free today. Normal is broke and common sense is weird. So, we're here to help you transform your life. From the Ramsey Network in the Fair Winds Credit Union studio, this is the Ramsay Show. Alongside George Camel, I'm Ken Coleman. Excited to have you with us. We have a lovely studio audience today. Fantastic looking people. Full lobby out there. That's fun. The phone number to jump in isle8255225.LE8825-55225. We'll take your money questions, your work questions. They all kind of go together. We start off with Madison in Salt Lake City. Madison, how can we help today?

Hey there. I've been dealing with some long ongoing um unemployment in my relationship. My partner has been unemployed for two and a half years and most recently when taking him through the finances he kind of shut down, got upset, that I was doing things wrong, but that he didn't want to get a job because it would not benefit him. I'd misuse it somehow. I'm

so Okay, I hold to the question. Did I hear you say he's not been working for two and a half years and he said he doesn't want to get a job because it's not beneficial for what? I didn't catch that last part of that sentence.

Of course. Um, he said he didn't want to get a job because it wouldn't benefit him, that I would just misuse the money somehow.

Oh, wow. Can I ask another question? Why are you still in this relationship? We have children together.

Okay. But you're not married. Correct. Okay. You can have children together and and still not have this cohabitation resentment bubbling up here. This is a fact. Okay. But we stopped you. You were about to get to your main question before George and I cuz we have lots of thoughts. I can already tell you.

What is your question? So my main question is, am I being financially abused? But I want to add a layer to that. Okay.

So we did invest in an Airbnb like remodel and rental together. So he spent a lot of his time over one of those years in reworking that house and getting it running. Um, so he says that he's working and he's adding value to the relationship through that.

Is is the uh Airbnb actually making money? We are in our fifth month and it's paying the bills but it's not turning a profit.

Well, okay. Um, do you have any evidence and let's say we were in a court of law and I said, "Give me evidence that your boyfriend is abusing you financially." What evidence would you give me? the just the lack of support and provision.

Yeah, I don't think you're being abused, but I don't think semantics matter here. I do think you're being manipulated. That statement you gave George and I to start off the call where he looked at you with a straight face presumably and said with some sort of conviction that a job would not benefit him because you would misuse the money is about as

Yeah. He turned it right around to you as a case of manipulation I've ever seen. This guy is an absolutely broken human being. And that's not an insult. That's an actual diagnosis. I could insult him. I'm not going to because I don't think it helps you. But he's broken. He's deeply broken. He's got to go get some help. And you can't give it to him. And I think he needs some boundaries.

I really do. What would you suggest? I can't continue to support you financially.

Yeah. We are not going to continue our relationship the way it is now. If you aren't going to support me and the children, if we aren't going to support these kids we've made, you're out. And here's here's what's easy. His response will be your decision. If he takes ownership and action, there's possible hope and repair for this relationship. And if he doesn't, if he plays the blame game, tries to guilt you, if he panics and gets defensive and makes it your problem, well then you know, yeah, you you've just confirmed all of your suspicions. Yeah. Let me let me flip it if I might, Madison, just for a moment. Okay. Let's say you had a girlfriend that was in this exact situation and and she told you over lunch or coffee what was going on. What would your advice to her be?

Man, it's it's tough when you look at it from that perspective. It's definitely shocking. Like if it was your friend and they were asking you for help, you'd you'd want them to be treated better%.

Which is why I'm keeping you there. But and what else would you tell her to do?

Counseling. That's the first thing I would go to. Not a bad idea. And And what And what would you tell her to do if the boyfriend or the husband wouldn't go to counseling? What would you tell her to do? She doesn't have to live that way. I I 100% believe that biblically men should provide and protect. And if he's not able to do that, then she's not in a healthy relationship anymore.

Yeah. And wouldn't you after you left her, wouldn't you in the car wonder what else is going on behind the scenes or what might develop long term if he's doing this over money? What happens when the kids are older and there becomes major decisions? Wouldn't you think, man, there there's there's a whole lot to this onion. Would you think something like that? Yes or no?

Yeah, it definitely opens up a can of worms. Yeah, this Listen, I hope this works out for you, but yeah, you are headed towards abuse and I a professional might call it abuse. I'm neither one of us are mental health professionals, so I don't want to diagnose it clinically.

Yeah, I don't want to label it that, but you are being manipulated and it's not okay. And so, you need to take action right away. He needs very clear boundaries that this is not okay. You don't feel safe and you're not going to do this with the kids. And and it's not a threat, by the way, cuz I can tell you some somebody like this is going to go, "Are you threatening me?" And you go, "No, because see, a threat is what a bully does on the playground. This is not a threat. This is what's going to happen. And don't play the game. Don't get sucked into this because if he says something like that, he's going to make you feel bad." No, no, no, no. It's not a threat. I'm telling you, we can't keep doing this. And so we we go see somebody. Now, by the way, I'm the only one working, so I'll pay for it. But you could also point out to him in all this, and this is where I want to bring George in really quick because

there's some technical stuff to this that I know you can put some emotional language around. They aren't married, so he has no right to her money there. Just I want you to bring in the technical aspect as if as if we were sitting with this couple going, "Hey, pal Sparky, let me give you some realities." Well, yeah, this is cohabitation and I don't know what the laws are in Utah about what his rights are and and what he's protected and entitled to, but the longer you enable the irresponsibility, the worse this is going to get. Cuz here's what's happened. Your generosity has replaced his urgency. Cuz if you're hungry and you need to eat and no one's going to provide it, you go find some food. Don't you?

And he has no right to her money. None. Correct. Yeah. I mean, if this was in the court of law, they'd go, "All right, there there's going to be, you know, you guys are going to figure out how to cover the children together." But he's on his own to figure it out.

So, one of the things you do right away is we're going to get counseling and we're separating finances. If there's anything you're sharing right now, I would stop that immediately so that he knows you're serious.

Okay? And then I would say, "Put up or shut up." Not that way. This is us telling you, but you know, he needs to go to counseling. And then we're going to find out from a professional whether or not he's willing to do the work. This is the ultimate. I love the advice you gave your friend. I think you're a good friend, Matt. I said, I think you got a good head on your shoulders. And the reason I put you in that little exercise is sometimes it's very hard and I appreciate you called George and I today. It's hard for us to give oursel advice,

but the advice you gave your friend is the advice for yourself. You know what to do, so go do it. And we're cheering you on. Uh, but this is not just about you anymore. This is about those kiddos.

So, 100%. Take care of you so that you can take care of them. That's the advice today. So, sorry you're going through this,

George. This is a reason why uh 7,000th reason why that you need to be married. So, we've got full commitment. We know what we're getting into.

Some skin in the game here. Dave, we got a lot of calls on this show where life happens. One day someone's healthy, they're working, providing for their family, and then a curveball hits.

You know, we hear it all the time. A car accident, a cancer diagnosis, a heart attack, and suddenly everything changes.

Yeah. And that's why you've always said that having term life insurance from Xander is essential because it protects your family if the worst happens.

Yeah, that's right. You need 10 to 12 times your income in coverage. No gimmicks, no whole life junk, just straightforward term life protection. But there's another piece that people often overlook, and that's long-term disability insurance.

Yeah, it's important to understand the difference between them. Life insurance steps in when you die. Disability insurance steps in while you're alive, but can't work. So, it replaces a large part of your income, so the bills still get paid while you get back on your feet.

Now, if your employer gives you free disability insurance, great. Take it. If it's uh discounted there at a better price, take it. But if not, Xander can help you find the right plan. Whether you're single or married, it's not optional. If you're going to be out of work for a while, then you need to make sure the money's still showing up. And that's why Xander is our go-to. They make it super simple to get the right coverage at the best price. No pressure, no upselling.

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So don't wait. It's fast, it's easy, and it could make all the difference. Go to xander.com or call 800356-4282. Protect yourself, protect your income, protect your family. All right, we go to Toronto next where Kate is waiting for us. Kate, how can we help today?

Hi, thank you so much for taking my call. Um, I'm pretty upset right now about the situation that we're going through.

Okay. Uh, basically my husband borrowed money off the equity line on our house and put it into cryptocurrency. Um,

Ouch. I found out Yeah, I found out about it, was not happy, and asked him to sell it right away. How did that go?

Um, well uh he he he said that he would and assured me that it would be, you know, back in the bank account by Monday or Tuesday.

Uhhuh. Um, but he was uh he had the flu at the time, was not feeling great. I don't know.

I don't know if that dog ate his homework. Okay. Yeah. Got it. Yeah. I don't know. But in in any case, uh he accidentally pressed the sell short button instead of the sell button apparently. And so um after like four or five days and it hadn't showed up in the bank account, I asked him about it and then he admitted to me that um he accidentally pressed the wrong button and it had all been liquidated and it's gone.

And where did it go? Apparently crypto the the account just kept it. Okay. So I don't I don't know.

Well, selling short means he borrowed an asset he didn't own and he sold it at the current price and then he becomes obligated to buy it back later potentially at a higher price. So this is just gambling in the in the you know market especially in the crypto world. It was already speculation. So, it's like double gambling at this point on top of the infidelity that he created by doing this behind your back,

right? So, my question is, is there any way to get that money back or is it just gone for good?

Well, he'll be obligated to buy it back. And so, I don't think that it's gone forever and he needs to do his due diligence to figure out what he needs to do to get the money back.

Yeah. I I just do not know the answer because of his him selling it short. Do you got anything on uh you got anything on that?

I don't know the ins and outs of what platform he's using and the wallet. I'm on the phone with customer service though. My guess is they got somebody and I'm going, "Hey, uh this is what I did."

But let's just pretend the money's gone. How much money is gone? Cuz it's really added to the helock.

So this debt it's about two Yeah. $250,000. Oh, okay. You buried the lead there, Kate.

Oh, boy. I need a whole can of Tums for this one. James, this is like the whole can down the hatch. $250,000.

Yes. Honestly, if James would have let us, we would be patching in uh this website right now and helping you out. God bless you. You need to be on the phone with them, not us.

There's there's bottom line is seven layers to this. There's so much here. He's a He's like a degenerate gambler at that point if he puts his entire house and family on the block to try to get rich quick with crypto. Oh

yeah, it's it's very upsetting. And there's a lot he's not telling you to do. I'll tell you that.

Yeah. I don't know what I'm not saying that he didn't hit a wrong button, but I'm saying that there's a few steps you have to take to do something that idiotic

and then say, "Oh, the money's gone." Babe, I love Spicy George. I hate to tell you this, Kate, but I'm with George. I think this is You need to go sit with a therapist with me. You owe me this. You just You put $250,000 uh on the line here, and I have so many questions. And I'm with George. I find it hard to believe he pressed the wrong button. Now, the reason I give it a chance, George, and you know this cuz you're sitting next to the guy who if someone was going to do that, it's me.

Yeah. you would be liable to fat finger something, but not at $250,000. I would think I'd slow down long enough to make sure I hit the right button.

Yeah. But I'm saying there's a chance. I don't want to call him a liar, but boy, my my BS meter is just singing right now.

It's just like I don't know what's worse, if he didn't know what he was doing or if he knew what he was doing. Both are frightening scenarios.

And either way, we got to approach it the same way, right? Whether he hit the wrong button in a bonehead move uh or he didn't, we still have to solve the problem that he did this without your knowledge and he didn't sell it when you told him to. There's there's two major gates of trust that he walked through

with you. And I I'm I'm looking this up to try to help you ask the right questions to him.

What do you got? So, here's some questions to ask him to confirm today. Are all positions closed? That's number one. Number two, is there any remaining margin exposure?

Number three, is this 250K a realized loss, meaning it actually happens, or is some of it still in flux? And then, what exactly is owed right now? Who is the lender? What's the interest rate? What are the repayment terms? What are the risks here?

Can we do this to give you more assurance? Kate, George, can you get that to Christian?

Yes, we'll email you. Christian, you can email her this because here's what I actually want Kate to do. I want Kate to get on the phone with the crypto company

and you he needs to provide you with screenshots of everything he has. And if he can't do that, I don't know that there's a lot of hope for you two cuz a symptom of something much deeper and darker.

But let's hope Kate he's telling the truth and uh you can take these questions from George Christian will get them to you and you are getting on the phone now. you are the private investigator and if he's nothing to hide, he's got no problem with us. But we can get on the phone with this company and go, "Hey, my husband says he hit the self short button. Uh, I got some questions." Okay. It's the best we can do,

but this is a relationship problem, not a crypto problem. Yeah. Are you guys doing well financially otherwise?

Um, yes. Yeah, we are. Um, what's your household income? So, um, he brings in about 300,000 a year.

Okay. And are you working outside the home? Not currently. No, I I used to work as a nurse, but I've been staying home with the kids.

All right. And how much debt do you guys currently have? Uh, well, that's the other thing um that we don't agree on. We we have a lot of debt. We have uh six different properties. um four of which are rental properties, one is a vacation house, and then we still have a mortgage on our own house.

Okay. And even though he he even though he makes good money, it's just all going to pay these mortgages every month.

Well, here's the fun homework he gets to do as a way to rebuild some trust. He's going to start selling off these properties like hotcakes to pay off all of this debt.

Yeah. Now, well, that's my other now thing. Is is that is that the best thing to do? because he he's wanting to like take money out of one of his retirement sick account.

No, this guy should not be taking money out of anywhere. Yeah. I don't know who's paying him $300,000. I wouldn't hire this guy to flip a burger at this point.

He's like a reckless gambler with you all's money. Yeah. He needs to go to Gamblers Anonymous cuz every single thing he's doing is going, "What other shortcut can I take that will put my entire family at risk?"

It's really true, George. You know, Kate, here's what's going on. And I think you got to bring this up to him and and certainly with a therapist in the room is what I'm going to suggest here. But George, here's what I'm seeing. This is a guy who's actually making really good money, $300,000. And this is a guy that at some point has gone out and created a professional uh amount of credibility and he's getting paid well and can become wealthy off of 300,000

without taking any of these. He wants to get rich quick. I think you nailed it. And I mean this, Kate, and I'm not beating up on him. I'm saying he's got something in him that a professional can identify to go, why is a guy with $300,000 taking big bets,

saying this isn't enough. I need more and I need it now. Six properties is massive exposure, massive risk. So, yes, back to your question that you asked, George, I'm jumping in here to say yes, it's the right move because theoretically, you have some equity in those. And if you don't have any equity, at least we get rid of the risk and lower the uh the mortgage. Get that out of your life because now we have a $250,000 debt we didn't have a week ago or whatever it is.

So, yes, it's the right strategy. sell every one of them until this guy gets healed from this appetite for the home run. There there's an addiction here that scares me. And there's three stooges of wealth building, Kate, and it's fear, greed, and pride. It sounds like he's got one or all of the above here that's behind all of this. And he needs to come out clean and let it all out into the light to disinfect this entire situation. Kate, hang on the line. George is going to give you that awesome research. Christian is going to make sure you have it so that you can do your own research and hope this works out.

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peace and your freedom. So go to joinddeleteme.com/ramsey to get 20% off their annual plans and take back control. That's joined me.com/ramsey. All right, JD's up next in Las Vegas. JD, how can we help today? Hey, can you hear me? Okay,

I can hear you well. What's going on? Oh, not much. Um, so I just I just started listening to the show uh yesterday and the situation I'm in, I I just feel really stuck and I don't even know where to begin.

Okay. What What is making you feel stuck? Um, I guess I just have a lot of payments that I am responsible for and um, you know, I owe $31,000. Uh, it's a 28% loan on a $25,000 truck. I owe 16,000 on an RV that's worth maybe seven. And I'm willing to sell this sell all this stuff, but

great. You know, I I wouldn't be able to get a personal loan to make up the difference.

Okay. Well, here's the good news. Uh, you came to the right place. George is going to walk you through this, but you need to have this mindset as as he walks you through this. You're actually not stuck. You're not stuck. You're just in a really rotten place that you put yourself in. And you got into it way easier than it's going to be to get out. But you're not stuck. You got to hold on to that. You got me.

I got you. All right, George. Prove it to him. How does he get unstuck in his mind? Well, let's look at the math of this and then figure out, you know, the easiest way out because it might be a solvable problem with your current money or we might need to go, you know, sell a bunch of stuff and go get three more jobs. So, tell us about your financial picture. How much are you making right now?

Um, I'm making between 60 and 80,000 a year. I'm taking home about 44, maybe a little less. It kind of flu fluctuates. Uh, 4,400 every month.

What do you do for a living? Uh, I drive truck. Okay. And what is your rent? Um, so my mom owns the house and the mortgage payment is 850 and I give her 900 and I'm also responsible for the water bill.

Okay. It's a very reasonable rent as far as your income goes. I see on the screen here it says you're behind on the rent. Why is that? Um, I think just, you know, it's just one thing after another. You know, I I pay one month's rent and then by the time I pay it, it's, you know, another month is due immediately. And I just feel like I can't get caught up.

No. Where's the other $3,600 going that isn't rent? um $900 for that truck payment that I mentioned and then uh you know like

$500 for insurance which is a little ridiculous but All right, so we'll clear 1,400 bucks just getting rid of this truck.

Yeah. Yeah, ideally that's what I want to do. I tried to refinance it. um couldn't do that and I I won't be able to sell it cuz I I don't have six grand to to pay off the difference.

You don't right now, but you could. And I think that's the move. Was this a trade in or did you find the private party value?

Um uh the private party value is is about 25,000. Okay. And you're saying what do you owe on it that you owe like 31? You said

31 and change. Yeah. Okay. And then what was the other debt? Um the RV that I owe 16,000 and change.

And what's that worth? Uh maybe seven or 8,000. And then I have $3,500 in credit card debt.

But to George's question, I mean, you're also spending freely outside of some of these big payments, too, aren't you?

Um, yes and no. I mean, I prioritize, you know, just keeping the the house payment made, the bills. We're behind on bills, so, you know, I I pay what I can on the bills and then and then they're due again. But, yeah, I I feel like I could settle down a little bit on on my finances.

Do you save any money? When was the last time in a month you save something? Uh, hasn't hasn't happened in

And are you open road? Like, what's your truck driving schedule? Um, I'm home every day. I start in the morning and I get off uh in the mid afternoon.

Okay. And Oh, okay. And mom owns the house and you're just paying her rent. Uh, she she uh has a mortgage on the house and the mortgage payment is 850 and I'm just covering that.

Okay. And she's not cover and she's not able to work. She's not because you said we are behind on the bills. I thought I heard

uh me and my fiance. Oh, so you and your fiance are living with your mom? No, no, she my mom lives somewhere else. My mom just inherited the house. Um,

but is the fiance living in the same house? No. Okay. So, you live in this house by yourself?

Oh, yeah. Just with my fiance. I just asked you if you live with your fiance and you said no.

Oh, sorry. I thought you were asking if I live with my mother. I apologize. No, I did, but we cleared that one. Now we're on this. So, what does the fiance do for a living?

Um, she's a CNA. She uh she brings in about 2,000 a month. Um, is she part time?

She helps. Um, it's it's technically full-time. It's three days a week. Um, three on, four off.

Can she work more? Um, well, it sounds like she's not paying rent at all. Why isn't she I mean is she paying any of the housing costs if she's living there?

Uh when I need help with uh You do need help. This is $900. Okay. All right. What she can. Uh she has a car payment herself and she's also working on paying off uh med medical bills.

Okay. All right. So, we've we've done enough diagnosis here. JD, you have never even sniffed a budget. And even if you sniffed a budget, I don't know that you have the behavioral discipline at this stage to actually honor the budget. So you call it asking for help, right?

Yes. What do I do, Ken and George? Right. That's correct. All right. Here's what you do. You have got to start being disciplined. You're just spending money like a billionaire and and you don't have anything. And so you actually can get out of this. All right, George, you've heard all the facts. All right, give him give him the tactical. What does he need to do today? So the baby steps are in this order. Baby step $1,000 starter emergency fund. Do you have $1,000 to your name right now across your bank account?

Uh, no, sir. Okay, that is your first goal, which means the next paycheck that comes in, you are putting that aside and you're going to cover your four walls. And if you that's all you can cover, that's okay. because so far we're behind on the rent, but we're trying to make the debt payments. We've got to cover our four walls first. Now, this is to mom. So, now mom is mom paying the mortgage even though you're not paying her.

Um cuz you said you're behind on rent, but that's really mom's mortgage. Well, no, she's not paying it. It's It's just not getting paid when I don't send her money.

The mortgage is not getting paid at all. Yeah. So, you could get foreclosed on Um, we haven't gotten to that point yet. We're We're

That's where it's headed. I mean, that's what happens when you stop paying your mortgage. Your your fiance needs to start paying 450. We're splitting this cuz we're not married, but she needs to be working 40 hours a week.

If she's living there, she's paying half the rent until you learn how to do it on your own.

Okay? And so, we need to come up with six grand after that to clear this truck. So, you get a,000 bucks in the bank and then you're going to keep living on rice and beans. You're not doing jack squat when you're not working and you're going to be working a lot. Can you do overtime?

Um, I don't really have that option. No. No. Three other jobs then. You get off in the afternoon. You already let me know that. So, now you're not getting off of the truck situation. You're moving into the next job. You need money. You need to work really hard. So, this is painful for you. Do you need a car right now to get from A to B or or can you just drive the truck? Uh

yeah, I have to daily commute to work. Can you Can the girlfriend the fiance not take you? She's got plenty of time.

No, she works uh 6:00 p.m. to 6:00 a.m. I worked about uh 4:00 a.m. to to about 400 p.m.

Okay. Well, you're going to have to figure out a transportation sit situation out cuz if you can clear this truck, you can breathe again.

Yeah, you're in bicycle territory. So that $6,000 is your focus after this,000 bucks is saved for your small emergency fund. But that's your key to getting out of this. And so far it's just well can't do that cuz of this underwater on this. You're going to need to get more money and spend less. And if I looked at your bank statement, I could probably find 48 ways to do it. So hang on the line. We're going to gift you every dollar our budgeting app. It's going to be a coach in your pocket like us, but less yelling and more recommendations for how to find that margin. I'm rooting for you, man.

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All right. One of the best things that you can do for your finances is to have a really good tax pro uh in your corner that you could trust to help advise you on the best moves to make for your situation uh for your small business, especially if you've had some big life changes uh this past year. So, either your personal situation or your small business situation, you got to have somebody who knows what they're doing. Go to ramseyssolutions.comtaxpro. Ramseysolutions.compro. Uh remember all these um CPAs and enrolled agents have been vetted by the Ramsey team, but you need to sit with them and make sure you feel good that you understand everything that they want you to do. All right, let's go to John in Pittsburgh. John, how can we help?

Gentlemen, how are you today? Doing great. What's going on with you? Good. I'm I'm loving the fact that Ken called you Spicy George, first off. So,

thank you. I appreciate it. And and a word of warning to you, John. He's He's a little frisky today. I

popped up on Captain. He walked in before the show started. I knew he was a man on a mission. So careful with George today.

I will have it no other way. Okay, great. Um so to get to my question, uh I'm in the process of selling my house. Uh and I'll be getting roughly 130 $135,000 from that and just want to see if I'm if I'm planning it right. Um this will put me into baby step seven. Um, and my girlfriend and I, uh, we have plans to get married, uh, potentially looking at rings and, um, trying to see what the best option would be with that money. So,

wow. My plan is, um, and and just looking for some feedback. Thank you. Feedback on you, uh, from you guys. Uh, I'm looking to have a 100,000 of that, maybe in a high yield savings account, maybe investing. That's where I'm I'm asking feedback from you. Uh we're looking to potentially once we're married and um buying a house in it no less than four years when she can retire and and um we'll end up buying something again once we're married. So I'm thinking of putting 100 in it high yield savings or something else you may recommend for that four to five years.

Um and then the rest just a couple about five grand in emergency fund some money into a ring and maybe a vacation like a Ramsey cruise or something. Uh, and then another 20 for a just in case car fund. Um, I have a 2010 Toyota Highlander with almost 200,000 miles and uh, loving it. Just want to see how far it goes, but want to also be prepared. So,

okay. Any suggestions you might have on on what to do, what not to do, right track, etc.

Yeah. Well, I'm curious. Uh, how old are you two? Cuz you're talking about her retiring.

Um, in her job, she can retire at 50. She's 46 and I'm 49. Okay. Is her plan to retire at 50 and not work anymore?

Not work at that job. Uh and then that job will afford us the opportunity to be able to move to a different state, and that's our goal.

Does she have a pension or something with some guaranteed income? Yeah. She's also going to do some work, but it'll most likely be in a different state. Yeah.

And you're not getting married. When are you getting married? You're not until she retires or I couldn't understand that.

No, that that would be prior to that. Uh we've we've started conversations about that. We looked at rings a couple weeks ago. Um so that would happen most likely, I'm sure. I'm sure prior to all.

And then just one followup for me. Uh you said put 5,000 in an emergency fund, but you said that this is going to put you uh in baby step seven. So presumably you have a full emergency fund in baby step three. Correct.

Yes. I have 15,000. I'd like to bump it up to 20. Okay. So I see I see what you're doing there. Okay. So 20 total. So baby step seven would be a paid for house. So right now you would kind of be going back to this kind of four, five, six land until we get the house paid off. So that would be your next goal is to kind of earmark as much of this as you can for that future down payment. Now if it's going to be guaranteed, hey, this is five plus years out, you could invest the money in, you know, index funds in a brokerage account. My gut says you guys will want a place of your own once you're married before that,

even before she's retired. That's a possibility. We don't know. You know, it's kind of in that middle zone where it's maybe too long to rent, but would we recoup the money if we buy something?

Would you recoup the money if you bought something and sold it and then bought another?

Well, because remember, they're going to move to another state. Yeah. Well, if you're going to have the house for at least a few years, it could be a good buy, but it may just be worth renting for the peace of mind knowing this is very temporary.

Yeah. And that's that's where we are. We're not really sure since it is. Is that where you're going? You just sold your house

or you will. Are you going to live with her in her apartment or her house or that she's renting? What?

Yeah, she she owns a house as well. I'm living here now. Um, and then she may or may not sell her house here shortly. Um, depending how it goes. And that's where we're we're thinking, well, would we go in and buy a house? Obviously, we're not going to do it under both names uh unless or until we're married. Uh, but would do we buy another house?

I mean, I would just live with her once you guys are married. That's the easier solution.

Yeah. Instead of just renting. At least you're building some equity while you two are married and then you can sell it once you're ready to retire and move elsewhere. So, yeah, I like the idea of parking in a high yield savings account because there's a lot of unknowns right now and we might need this money sooner and earmark that for your house down payment. If you don't have a good one, Fairwinds is an awesome uh partner of ours and they've got a great high yield savings product. You can jump on fairwinds.org/ramsey to get their smart bundle that includes that. I like a 20,000 emergency fund. I like having this car fund set aside knowing you're going to do this and you're going to pay cash. So, let's not make it a surprise when it happens. And then Ring is definitely the next step.

You don't have to go crazy. What are you thinking about spending on a ring? I knew you were going to get nosy about this.

Wow. People, I just America wants to know. It's his business. It's his money. Do I tell America how much I'm spending on a ring? I mean,

I think it's a fair question. You've told us pretty much everything. You've told us everything else. I mean, go ahead. What are you thinking?

Um, I'm thinking in the $5,000 range somewhere, right? Oh, George is so happy. I know. So, it could could be a little more, could be a little less.

What does that get you? What does that get you these days? What does 5,000 get you? A wife, if she says yes.

Hopefully something better than from the rare island of Zirconia. That's for sure.

I don't think you know. I I don't think you actually know. You don't know, do you?

I have a little bit of an idea. I have a friend who's a diamond wholesaler, but

Oh, he's going to get a sick deal. Dave also says Yeah, Dave also says we can always upgrade. Uh, we've already talked the size of what we're looking at. Um, so this is serious.

Okay. Well, this is great news because the You're saying that the You have a good idea that the 5,000 is going to make her happy.

It will. Ah, well, there you go. All right. Then I I like your plan, John. I think you're thinking through this wisely. There's just a lot of variables right now. And so that's my hesitation to put this in the market. Um, not knowing what's going to happen. I mean, you've seen the headlines just this week and everyone's getting spooked and they're selling off and now it's back up to record highs and so I think because of that your your heart rate will stay smooth if you just put it in a high yield savings account for now.

You'll get, you know, over 3% on your 100 grand, which isn't bad. Uh, great unintentional segue, George.

Tell me more. Well, we were just talking off air about the crypto uh roller coaster. I feel like we need a little uh update. You have been very public. Uh we as a show have been public about crypto and the risks and we've seen it go down tremendously over the last 72 hours. Uh looks like it may be stabilizing a little bit today, but who knows? What say you, George? This is your this is your chance to crow a little bit.

Well, I'm not here to say the I told you so cuz you know Well, that that's not exciting. I think America would like to hear that.

I'm not going to do it even though I did tell you so. But here's the thing you got to understand. Bitcoin went over $100,000 and everyone's going, "See, you Ramsay guys, you missed out. You told people not to."

People were reaching out to me on social g saying, "Yeah, you Ken Coleman and Dave Ramsey, you guys don't have a clue."

Yeah. And then it was at 82 and then all of a sudden it was down to $60,000 for a Bitcoin and now it's back up to 70 and who knows where it's going to go from here. Nobody knows. All I know is this. The stock market, the S&P 500, is 500 actual companies producing real products and services that have real revenue and their shareholders that are trying to increase the value. That's what we're all rooting for. And Bitcoin has no true utility. It's not really based on anything except hype and us saying this is the future, so we should all put our money there. And then you get a bunch of bros who get spooked and they start selling it off like hotcakes, tanking the value. And this is the problem with speculation. you know, you you you place the bet and it's the roulette table. And so, it's the reason I don't own any Bitcoin because I'm already an anxious guy. Don't need to add to it anymore.

I'm good with the S&P 500 average 10% return over the long haul. It's I do the get-rich slow plan.

So, what you're telling me is this was not shocking. These were not shocking headlines when we saw crypto on fire.

No, I kind of knew eventually this was going to happen and maybe I it's going to go back up and be a million dollars one day. I don't know the future. All I know is I can control what I can control and that's investing slowly, wisely. Wealth gained hastily will dwindle, but those who gather little by little will increase it. That's what Proverbs says. That's how I live my life. That's what we also call a mic drop.

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That's guardianlit.com/ramsey. Attorney advertising. Results may vary and no specific outcome is guaranteed. Welcome back to the Ramsey Show in the Fair Winds Credit Union studio. I'm Ken Coleman joined by George Camel. We're here to help you out. You got money questions, you got professional money making questions, those work questions, we're here to help on those as well.8825-5225 is the number.8255225. All right. Uh boy, this here we go. Am I hooked on phonics? I always enjoy these. Alita, I believe, is who we're going to in Fagetville, Arkansas. Tell me I'm right Alita please.

You are right. Thank you, Mr. Coleman. Mr. Campbell, thank you for taking my call.

You bet. But no more mister. We It makes us feel old. It's We We won't allow it.

Yeah, Ken's already old, so he just need a reminder. Well, old compared to you,

compared to most people. That's right. All right, Alita, how can we help? So, I've had trouble finding a job in the last 10 years. Uh, Ken, I've been looking into your uh work and I started your book, The Proximity Principle. Um, and I realized I've been playing the slot machine a lot, but I have a lot of skills in uh events. And then in 2018, I was certified as a butler, uh, hoping that would make me specialize to get a job and I just feel like I am running on the wheel to nowhere.

What are you doing right now for a living? So I am a Canadian who is currently in the states. So um I have talked to so many different places that place butlers and a lot of them in the states at least are saying I need your green card so we can help you with the immigration side and

so you don't you don't have your green card. I don't um and even in Canada that's a they just don't pay as well and the cost of living is ridiculous. So I'm like, well, let's do the states and it's a better opportunity.

Okay. So even though you uh have got the certification as a butler and that's what you really want to do to be a butler.

Yes. Or personal assistant, executive assistant up in that field. Okay. Well, those are two different things. And I I must tell you, uh did you ever watch um Downtown Abbey?

Yes. Okay. Love the butler. All right. So when you say butler, that's what I'm thinking. I want to make sure I'm I'm on the same wavelength. Is that what you're talking about?

Correct. So very nowaday Go ahead. Butlers nowadays tend to do multiple things. So they could be your personal assistant and also take care of things around the house or organize the staff.

Okay. Okay. And the reason I'm asking that is because that tells me there's a wide range of people. There are certain people that would pay for a personal assistant but would not pay for a butler. Correct.

Correct. Yes. Okay. And you're a comedian, which is fascinating to me. So, I got to do some some real digging here. How much are you making on average uh per month as a comedian? A working comedian.

I'm actually not a comedian. I'm a Canadian. Oh, good grief. I heard comedian, too. Wow. I'd love to hear some material. Okay. You're comedian.

I'm so glad cuz I thought here come the old man jokes from George, but you heard the same thing.

Yeah. I thought it was like you're trying to be a comedian, but you're looking for a legit, you know, buckler job right now. Got it. All right. Back to the Okay. So, one of my wife's dear friends, one of her closest friends, uh, is a Canadian as well, and she's quite funny, just in case anybody wants to know, but she's a Canadian, and, uh, she's had so many issues with work visas. So, are you telling me that you cannot be a butler or a personal assistant until you get a green card?

Correct. Now, if you get in the right circles, they have the money that sometimes they can move that process along. So, I was hoping that might be the case.

Okay. But what can you do given the fact that you do not have your green card? So, I'm working to finish off. I have my associates degree. I was able to take a year off to work here in the States. So that's why I'm in Arkansas. And then this fall I go back to finish off the bachelor.

Right. But what have you been doing for a living? What are you doing now for pay?

So I am an office assistant. Um a well I work in a hanger uh for a company that fixes airplanes and helicopters.

And there's no issue with I I guess you're here on a work visa, correct? Yeah, you can do a work visa. and I specialized in business is what I figured I would take to encompass my event. I love doing events and banquetss and then the butler. So, I decided to go for a business major.

Okay. All right. So, a lot going on here. So, my advice is somewhat limited if if there are limited things that we can do.

So, it looks like you can do what you're doing now. So, A1 is to get the green card. That's the priority while we're doing these other jobs. And it sounds like you've done this, but you're not a typical person who calls me and says, "Ken, I'm having a hard time getting a job.

You you you have a limited scope." But the question is, could you be Go ahead. Yeah. The question for you is because you say it's not what you know, it's who you know using those people.

100%. But that's assuming you have you have the legal ability to work too. And so there's a different issue. Here's a prerequisite, which is

they can't hire you. And I truly don't think any even a high net worth household is going to go, you know what, we just like you so much. We're going to go through all of this hassle, pay extra, hope that months and months of immigration lawyers can solve this. I just don't think they're they're going to deal with that. I agree.

They're looking to have to deal with less things. That's why they're hiring you.

Right. So, and and it is a challenge for sure. And the guy I'm working for currently, he told me, "Nope, let's go for your green card." which was a 24 month weight, but we're into month 19 and he hasn't even started. Right.

The last guy, he's like, "Let's do it." 6 months later, he's like, "Right, uh, I can't do it."

Okay. You just gave anecdotal evidence to George's opinion. So, George is right. So, here's the deal. The question is, you love producing live events. The idea of working on live events. You mentioned that multiple times. Feels like the executive assistant stuff is kind of down the list a little bit, but you're a person who loves tasks. You like ideiation, making the idea a reality. Sound right? Yes or no?

Yes. Okay. So, here's the deal. The question is, does the green card prohibit you from doing that type of work? For instance, Ramsay Solutions has, I don't know, five, six, seven event producers that are full-time employees here, right? Um, you know, could you be an executive assistant without a green card?

You know, I've I've told you many times Ble is a company that has sponsored Ramsey live events, Entree Leadership. They're based out of Atlanta, but they're hiring people like you all around the country as virtual executive assistants. you know, uh, who are the, you know, if you were, if I'm sitting with you today in Arkansas, I'm going,

tell me the top five event companies or companies that are putting on some type of corporate event or civic events or who's doing what you want to do in your area

and that's where we start. Have you made that list? Um, I I've written down a few of them like some of them are hotels. Um, I did put my name into the White House. haven't been called up yet. So, we're waiting on that one.

No, but that's the but that's the lottery that you mentioned. That's exactly what you heard me write about in proximity. I'm saying no. Who are the top five event producers? What venues have the most amount of events in Fateville, Arkansas? That's where we start. And then we ask the next question. Who do I know that works at one of those five places? This is like a little Excel spreadsheet or you can do it on a piece of paper if you're old school like me, right? So, we start writing it out. We go, "Oh, I know Lynn who works over there." So, I call Lynn up. If I go, Lynn, here's my situation.

First of all, what's going on over there? What positions do they have? So, we get it direct from Lynn. We're not going through a website and filling out a application that might as well be spitting in the wind riding down in a convertible on the interstate. It's just nothing's happening. Okay? So, let's just methodically go through what I write about in proximity principle. This is not

difficult to do. actually just got to show up. Okay. And the old match game when you played when you were a kid, we're just going to keep this exercise up. And if it's nothing in Fateville, we start looking outside of Fagatville. Uh the other thing you might want to do is let's get serious about maybe maybe a relationship, George. That's how you get that great card.

That's one way to do it. One way. I love entrepreneurs. Don't forget guys, I started my company on a card table myself. So, I know what it's like to have people counting on you, your team, your family, not to mention your customers. And when you're the one signing the paychecks, you can't afford to fly blind. But I'll be honest, early on, one thing that nearly sunk us was wasting time with spreadsheets that didn't add up because business units didn't talk to each other. I finally told my team, "Just fix it." And they did. We got Netswuite. That was years ago, and we've never looked back. See, Netswuite isn't just for tech giants.

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That's netsweet.com/ramsey. All right, let's go to Rachel in New York City. Rachel, how can we help?

Hi, Ken and George. Um, thank you for having me on. Uh, my husband and I, we've been talking about having a second child. I want to know how can we balance financial readiness, mental health, and lifestyle priorities when deciding to have another baby.

Okay, that's a very interesting list. Did I hear run through those again because I heard commas between all of those. Is that fair?

Yes. Okay, so what was the first one? Was it financial readiness? Financial readiness.

Mental health. Uh mental health. And the third is lifestyle priorities. And that's all in context of how to balance those things when deciding to have another child.

Yes. Yeah. So, okay. Well, you have a you have a child now, so you know, a lot of that is out the window.

Well, well, the mental health is not um the financial readiness. I mean, George is not sure you could have mental health.

The financial readiness is the one that I can help you control. Your lifestyle. I don't have a life. I go home and I'm in dad mode until, you know, I go to bed. And so that's my question mark is what are your lifestyle priorities?

Sure. Um so yes, so we had our first child in 2022. She'll be turning two this May. Um I unfortunately did suffer from terrible postpartum depression and I'm only just recently, you know, starting to feel like myself again.

Oh yeah, it can take a long long time. That's tough. Yeah. Um in terms of finances, end of 2025, my husband and I, we made $225,000 gross. Um, our average take-home pay is about 10,000 a month. With just one child, we are living comfortably. Um, at the end of the month, we're usually left over with a little over $600 in excess that we're currently putting towards retirement in addition to what we're already contributing. Um, part of me is nervous to go through postpartum again, but I'm I know I'm just going to miss the financial flexibility that we currently have.

Well, where you said you're investing. How much are you currently investing as a percentage of your income?

I I do think it's a little more than the 15% that you guys um recommend. My husband, he gets about $400 or $500 taken out of his paycheck automatically and a 457. Okay. And that's dependent um on his income because he does he has overtime.

So his uh his uh income fluctuates. And do you guys have any debt? No, we're debtree. Okay,

that's fantastic. And you've got savings. We got savings. Yes. So, financial readiness is there.

It's there. That's why I was going to dig in. So, so I I my concern about the financial readiness is when we have to um expand, let's say, our current living situation. So, we live in a two-bedroom right now in New York City. Um, if of course if we have a second and the second the same gender as our first, I don't mind staying in the two-bedroom, but eventually when we have to upgrade to a three, that's where I'm a little concerned. We're lucky that our rent is currently pretty low.

What is it? I'm curious. In New York City, uh, 1,600 for Wow. Why the um I have two boys and a girl. So why the why the need if it's a different sex to have different rooms? They're still babies for a while. They're just

I mean in the beginning, yes, I agree. They could share a room, but eventually when we need to move out. Um

yeah, but how many how many years? It could be three years from now, right? See, that's why I'm asking you that like what's your And I'm not I'm not trying to talk you out of your decision. I'm just saying how many years before you think you would need to have them in separate rooms?

No. Um the three-year mark would probably be where I'm thinking. Great. So again, cross that bridge when we get there.

Yeah. And then what financial gains are you going to make over that time? Okay.

My question is more on the health side of things and I just don't know enough. So is it is it uh is it how much of it is chemical? In other words, I just don't know enough. So it's it's may sound silly, but the postpartum, how much of that is chemical in the body? Uh versus um is it all mental and emotional and did you get the tools, you know, to recover to where you feel like does your do you have a a health a mental health professional who's guiding you through this and giving you advice on this? that that's something I would want to know.

Yeah. So, I actually didn't get um any sort of uh help when I was going through um postpartum depression.

Yeah. I was kind of um just doing everything um on my own. So, we'll prioritize that this time, right? Now that you know, you're going to go, we're going to do all the things we can do and we're going to shift our money towards making sure that we have the help that you need.

Yeah. That would be the conversation. Rachel, I'm I'm hearing the emotion in you.

You worked. You struggled and you just now came up for air recently right? I did.

Oh, listen. Can I just tell you, I think before I would decide to to have another child, I would I would go talk to a mental health professional and your doctor and go, "Hey, what are the chances that with baby number two that I have a similar experience?" I just don't know the answer. I think you need to know the answer. The second thing I would ask is, is it something we can treat with medicine? How much of this is chemical where where medicine can deal with that? Or how much of it is is I need a really good therapist that if I go through this um that I've got a therapist ahead of time, giving me some tools and helping me with this and someone who's going to walk through it with me this time and not go by myself.

If if I were your brother, I I would say, "Hey, Rachel, do this before you guys make the decision to start trying again." Okay?

Cuz you don't need to do this alone. So you obviously your heart wants a baby, but you really sitting here right now, and by the way, I don't blame you.

You have real questions about whether or not you could do it again. Yeah. Yes. Okay then. So I think George has done a great job of saying financially you guys are fine, but I think the real crux of this question is, hey, you are amazing. You're superwoman that you did this without medical help, right?

Yeah. Um I I don't know how I did it. I don't know either. I don't know either because I can't even begin to understand what it what it does and and there's millions of women that are listening to this right now watching.

They're nodding their head going, "I see you girl." They see you. They've been through it. We We have no clue. But I do know this. It's not just for you, but you are first and foremost that you take care of yourself because you know how that's affecting your baby, how it's affecting your husband and and so it's about you first, but then it's also about them. So, in making a decision like this, you got to go in fully equipped this time.

And my hope is that it didn't h it doesn't happen at all. But I just don't know what the what the medical percentages are. And I think you need to know, don't you?

Yes. as as you talk to us today, you're not fully equipped. So, um so you can't make a decision on that. Now, George, you know, he's like, "Hey, financially you guys are fine." But the rest of this is really predicated on you and your past experience and what professionals can do to help you.

Okay. So, hey, you got some appointments to make, don't you? Yeah. You know what? I think there's some there's some community groups probably in New York of women that are still struggling with it now or have gone through it and you just came out of it. How about getting involved in one of those?

Sounds like an idea. Yeah. Come on. Yeah. Okay. I imagine I mean just raising a baby in New York is already tough enough. Sure.

And so you guys are doing a great job. You have an amazing income. You've stayed out of debt. You've got low rent which means you have flexibility in your expenses. You talked about lifestyle priorities. There's, you know, 6, seven, 8 grand here that we can play with. And I, you know, do what you need to do. Take care of yourself. But I think there's wiggle room here as well. And I don't think you're going to go, we're so tight every single month.

Rachel, I want to hear what George just said. George, you're right. You've got money to spend on a therapist or a doctor to help figure this out. Okay.

All right. You're amazing. Thank you guys. You're amazing. But no more. No more white knuckling through this. All right.

Okay. All right, Rachel. That's really sweet. What a sweet sweet lady. This is real, Ken. That's that's real talk. And you know, my my wife can attest. She'd be amening right now if she was listening to that call. And you got to take care of your health first. And that's why doing the baby steps, having financial peace, allows you the flexibility to focus on your own health.

Yeah. It's hard to do that when you got payments to make. You can't Rachel, we're 300,000 in debt. She's got margin to go take care of herself, which is going to allow them to expand their family and be healthy doing it. Folks, she can be more pres financial peace actually looks like

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membership. Get started at chmin ministries.org/budget and use promo code Ramsey. That's chmin ministries.org/budget and promo code Ramsey. Today's question of the day is brought to you by Y Refi. Defaulted private student loans do not fix themselves, but they can be fixed. Why Rei helps you by refinancing defaulted private student loans into a low fixed rate payment that fits your budget so you could clean up the mess and move forward with the plan. Visit yrefi.com/ramsey. That's yfy.com/ramsey may not be available in all states.

Today's question comes from Brody in Washington DC. While I would like to pay off my student loans, I'm not sure it makes the most sense financially. They are currently at 2.6% interest, and even a monkey can make more by investing rather than paying this off. I owe almost $100,000 on my medical degree debt. I make more than enough to pay it off, but I think it may not be wise to use my money to pay this off with such a low rate. This is classic. Well, you know what a monkey can't do? go $100,000 into student loan debt. So there's we can't be comparing ourselves to monkeys.

Yeah. Like take it easy on the monkeys. All monkeys are debtree. Yeah. We'll start there. To your question, I get it. On paper, anything with a low interest rate, you could make the case, well, I could make more by doing XYZ with it. But you're not thinking about a few things. Number one is risk. We don't know that you will stay employed and have the money to pay this off. We also know that student loans are largely not even bankruptible thanks to student loan lobbyists keeping it that way. And the other thing you got to think about is there's still a payment to be made. This is still looming in your life as long as it's there. It's living rentree in your head. You emailed in to get the question answered. And so the truth is you took this debt out saying I will pay this back. And you can drag it out as long as you want. Truthfully, you can do that and you'll probably still live to tell the tale. But I think you will live a

more peaceful life and you will build more wealth if you just went ahead and knocked it out. And not just slowly. I'm talking aggressively cuz you you hopefully are, you know, a doctor or in residency. I don't know where you're at in the journey, but you said you have more than enough to pay it off. So pay it off cuz on a balance sheet, you don't actually have that money, right? If you have 200,000 in debt and you have 100,000 in savings, you're still in the negative. Yeah.

And so get rid of the debt. Love it. My take. I love it. I'm not going to add anything to it. That was so airtight. Uh Gregory's up in Lincoln, Nebraska. Gregory, how can we help today?

Uh yes. So, I'm currently on baby step two and about to start side gig work. My question is to should I be insured with my side gig?

Tell us about the side gig. So, I have multiple trade skills. I work in the trades. Currently, I'm a diesel technician. like my job and everything, but my other skill sets lie in like welding and stuff. So, I was thinking about starting a mobile welding um side gig and in my area heavy a so I know a lot of farmers that could use repairs and everything.

Yeah, I would definitely get insurance. General liability insurance for sure. Okay. General liability. Okay. Yeah.

I mean, cuz you're This is a high-risisk gig. Okay. A spark could cause a fire after you leave right?

That's that's could be a problem. Property's damaged, especially if you're mobile. You're on other people's property.

Okay. And someone could just say, "Hey, I'm suing this guy cuz he ruined my driveway while he was welding." And so, you definitely need uh the general liability insurance and maybe professional liability as well.

Okay. Is that even with like without like do I need to have a business like license and everything for

I would be, you know, licensed and bonded. I would go full I mean if you're going to be doing this, you got to do it right.

Okay. Um like I don't want this to be like my main job. That's okay. It doesn't have to be.

But I would not tie all this to your personal life. I would have, you know, set up whatever you need to. I don't know what it is for your situation and your state. I would look into that of what the proper setup is. If it's an LLC, have a business checking account. Um, it'd be wise to do that as you get this set up so that the business um you're you're at least you have more protections in place if this is through a legitimate business with legitimate insurance.

Okay, cool. I wouldn't do it I wouldn't skip it to save money and I don't think it's going to be that expensive either. So, I wouldn't worry about that.

Yeah. What do you Yeah. I was just wondering Go ahead. Go ahead. No, no, you go ahead.

Uh, so I was just wondering just because like I don't know, my wife was wanting me to maybe like start a business, but then I'm like, well, it's a side gig. I wouldn't like start a landscaping business if I'm going like mowing yards. So, I was just I don't know.

Why does your wife want you to start a business? No, it's not necessarily start a business, but if I'm kind of like all in doing it,

like I have a good job with plenty of room for advancements. It's just like instead of like one little side gig doing whatever, I can potentially make more.

So, what's the why behind all of this? Uh, getting out of debt. Okay, great. Now, we have a why. We have a reason to go do this. That's good. And then the it becomes the how now. And the how is all right, I got to set up the LLC. I'm going to start that. You don't need to go crazy, but you just need a few protections in place so that this doesn't reach into your personal life.

Yeah. Okay. Yeah. This is not a lot of money we're talking about. It's a little bit of time, but again, it's more protection so that you can with peace of mind go do the welding, you know?

Okay. So, it doesn't have to be this full-blown I have to commit to, you know, a P&L statement. No, keep it simple and just go, you know, I'm going to see if I can get five to 10 welding jobs in a month or whatever it is you're trying to do.

That's the idea. But this is this is all about just making sure that if something were to happen that you're protected.

Okay. Yeah, appreciate it. And I love the, by the way, love the spunk. I love this. More people should be doing this. Uh that you're willing to go out and do this. In fact, real quick before we let you go, how much debt do you guys have? What's the total?

Uh including the house, it's a little over 101,000. Take the mortgage out. How much do you have?

Uh 17 a little over 17,000. What do you anticipate making as a welder on the side? Um, I'm just trying to do like another 2,000 a month.

Fantastic. On top of what I Right now I'm right now I'm between like harvest and like planting. So there's no real general overtime and I also don't want to do this forever. So that way

So if you made an additional 2,000 a month welding, how much are you guys out of your current income and budget putting towards debt? That's 17,000. um current well with the minimum payments we're at 780 um a month with all those payments and then I just like we just started like a budget and plan so um cut a bunch of subscriptions and everything and so we're currently amping that up right now and so we're looking for excess money and stuff like that.

Yeah. So, the reason I was walking you through this is, you know, what's the total amount of money now that you guys are in a budget out of your current income that we can put extra? So, is it $500 a month extra we can put on the $17,000 of debt using the debt snowball? And George, I mean, making an extra two grand.

Yeah. If you just use side hustle money, you'd be done in about 8 months. But if you can use your your personal income as well and create margin there, let's make it a kind of an audacious goal to go, could we be done in four or five months

with our current income plus the side hustle money that will really fuel the the fire here, no pun intended,

uh as you begin this mobile welding business. And while we're cheering you on and pumping you up and, you know, saying, "Hey, do this, do this," I'd keep the side hustle going and knock out baby step three.

Get that 3 to 6 months expenses. Let's go. You know, fast forward that and now you get to baby step four, George. And mentally, if he's gazelle with this this side hustle,

explain what happens to him mentally, emotionally when he gets baby step two and three done in a short order. Think about that. Then you have all the margin you were throwing at those things now becomes your money to build wealth, to go on vacation, to upgrade the car, to create a maintenance and repair fund. And who knows, maybe the welding business you go, I could do this full-time. I'm enjoying it. I can be my own boss. I'm good at this. I could scale this thing. And you'll have that kind of flexibility once you're debtree with the emergency fund. All right, let's have that have some fun with that one, George. All right, let's say he does everything you just described. He realizes, wait a second, I think I can make somewhere. I'm going to keep an easy round number 50,000 again next year, but I hire a couple buddies, blah blah blah blah. I pay them. Where's that extra 50? How does that fit into

investing and really start to compound? Well, now it's all right. I'm investing 15%. I'm going to knock out the mortgage, which you guys don't have a huge mortgage. We can knock that out in a few years. And now we're going, we can amp up. We can max out our retirement accounts, invest beyond that, take trips we never dreamed of, be more generous. And so your life just opens up to a whole new realm of possibilities by following these steps. Gregory, we just looked into your future and George says you're rich. The crystal ball says he's going to be okay.

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Hey, gentlemen, thanks for having me on. Sure. What's going on today? So, my girlfriend and I were um we own a home and we're pretty much breaking up and I want to know what's the most fair way to split the net amount from the sale of the home.

Are you both on the uh title? Yes. What about the mortgage? Yes. All right. What are you going to sell it for?

Um we're going to sell it for about 625. um we owe about 510 on it and after closing cost and everything, we're thinking we can walk away with about 95,000.

All right. And let's talk about who put in what. So, who paid the down payment and how much?

So, we bought the home almost 3 years ago. Uh the down payment was 40,000. Down payment closing cost was 40,000. I put in 35. She put in five.

Okay. Oh boy. Oh boy. Oh boy. Throughout throughout the time too um that we've lived here, we've done renovations and I've uh we do keep our finances separate. Um but uh throughout the the time that we've owned the home in the last couple years, I've put in about 35 36,000. So

on top of your 35 on top of my 35. Yeah. And I know the answer, but we have to ask how much has she put into renovations? No nothing.

Oh boy. Okay. So, you're obviously getting the money that you put into it back.

She'll get the money she put into it back and then you guys could split the rest.

Well, on paper, George. Yes. On paper. So, legally, I mean, legally, she we own it 50/50, right? And she gives me a hard time, um, then I'm not even going to argue it. I'm just going to say, you know what, forget it. It is what it is. 50/50. Um, but I just want to make sure that I'm not crazy because what I think it's fair, and that's the key word, it's that I recoup my money.

She recoups her money, which is 5,000. And um and whatever that difference is, we go down 50/50 on that.

That's what I just said, right? Oh, sorry. I misunderstood. Yeah. So, I got I I did quick math probably wrong, but I got 70,000 coming back to you, right?

Correct. 5,000 to her. And so if we walk away with 90, we got 15 to split. Mhm.

And so did I pick up you saying if she uh gives me a hard time? So you've not talked to her about what we're going to do with the proceeds?

We have not. No. Do you think it's going to be a shock to her or where is she at? Where do you think she's at mentally on this?

I think from a mental standpoint, um she's logical, too. And I and I think deep down she knows that's that's the first thing to do. But I think from an emotional standpoint, she'll give me a fight over that. And quite honestly, I'm

Well, here we go. Here's the I got to dig. I can't help myself. I'm like a moth to a flame. Uh, who broke up with who?

I'm breaking up with her. Yeah, that's problematic. I still think the numbers are right, but I'm just trying to keep it real. The audience in the lobby's with me. It's going to be a knockout drag down fight on the way out.

Were you a gentleman about it? Yes. Uh we've gone a couple therapy. Um we've done quite honestly this has been ongoing for like 3 months or so. Um where I've I've been ready honestly I've been ready to walk away for 3 months but I've also been trying to work it out too.

Okay. Um are we officially done with therapy? The breakup is done. This is all finalized. Yes. Uh, it will be pretty soon.

What What does the written agreement say if there is one? Hold on. Do you How do you just move on so quickly?

Well, clearly it's over. It's not. He hasn't done it yet. Is that what I'm hearing?

Correct. Is she listening to this call? I hope not. She's about to find out the hard way.

I hope not. No, she's not. What's going to happen when you say, "Hey, it's over." Is she even going to be willing to sell the house? Cuz that's another part of this problem.

Yeah. If I'm hurt, I'm going to go, I'm squatting. I'm not going anywhere. Why would you be like that out of just anger?

I mean, when you're hurt, that's what you do. Yeah. I mean, she could, and I don't I don't foresee that happening. Um, I think in good faith, she seemed that I've been giving it a a shot. Uh, to give you more uh details of our relationship, quite honestly, I was ready to propose to her like 5 months ago, 6 months ago. Um, but I've seen a lot of changes in the last couple months that made me um change my mind. Um, to the point that it's like I don't want to waste her time or my time and we shouldn't even have bought this house in the first place.

Well, that that we all agree. Not married. Wish you could have called us before, but you know, too little too late. It's fine. Well,

a little a little too late. But, um, what do you call it? I think to give you more context, uh she went to nursing school uh throughout the the time uh throughout the last year. So, um she's an RN now uh with no debt. And I took over. We were pretty much 50/50 on our bills for the most part. We never not to the nickel, but for the most part, right, the bigger bills. Um and I sustain our household too throughout that time. So, I think I think she's logical and I think she's fair. So, to going back to the point of it if she gives me a hard time of not wanting to sell and all that stuff, I really don't see that. I don't think it would be

a nasty breakup, but I mean, but if it comes down to it, honestly, I make I make decent money and you want to play that game, go for it. Let's go.

We'll take Judy. We'll let her handle it. Wow. This just went from like you just went from hey if she gives me a hard time I fold 50/50 to now you're like let's go

pony up with some lawyers. I don't know where this is going. John, here's the deal. Uh appreciate you telling us this here. Here here's here's my advice on this one.

I absolutely believe that you ought to put out what you think is fair. Uh how you choose to debate that. I'm not going to get in the middle of that. Uh, hope it's not ugly. But I do think you should say, um, hey, but I wouldn't do it right away because you've been in counseling and you've shared with us. I love that you shared it, but for three months you've been checked out and she's got to be either blindsided or just knows that this is coming. I don't know which way it's going to go. Doesn't matter to this call other than to say when the breakup is done. And you got to give that a little space, George, is what I'm recommending. and then say, "We need to sell the house, and here's how I think it ought to go." Uh, and maybe a good idea for you to get a session with your therapist who's been counseling the two of you, and maybe get some advice on how to how to maybe play this thing out because that person hopefully has been

very, very objective in sitting with the two of you and might be able to help. That that would be the ultimate ideal way to handle it. George, what do you add? What do you delete? Well, I mean, assuming all of that goes decently well, then it becomes how are we going to split this? And I just want to know, do you have things documented? Your contributions, is there a written agreement? All of that.

No. No. If she wants to play hard ball, I I I don't have legally I don't have a leg to stand on. And we if she wants to play hard, we would have to split it 50/50 and I'm out of that.

But it's just that's a handshake agreement that we would split a 50/50. And what does 5050 mean

based on contributions? Because you never talked about that and it's not written.

Sorry. I guess what I'm saying is going back to your question of do I have anything written as far as how much I put down, how much I put into renovations. No. And no, I I don't. If she wants to play hard ball uh from the net proceeds from the sale of the home, I don't have a leg to stand on. And my best case scenario is at that point we'll split it 50/50 from the net proceeds and I'm probably out 20 25,000.

I mean I would start collecting some receipts of the you know the con the labor I paid and all. I mean you can't just give up now.

Yeah, I agree. I wouldn't leave 70 grand on the table. Uh-uh. And I'd be real nice. I mean real nice in breaking up with her. Yikes. Welcome back to the Ramsay Show in the Fair Winds Credit Union studio. Alongside George Camel, I'm Ken Coleman. Thrilled to have you with us. 888255225 is the phone number to jump in. Let's go to Zach in Houston, Texas. Zach, what is going on? Hey guys. Um, my question is, is it financially okay or responsible for my wife and I to get a golf club membership?

Well, that's just too simple of a question. H how are we to know? Uh, so let's start here. George, I know that you're itching to start asking questions here. What do you want to know?

I want to know where you're at financially. So, do you guys have any debt? Our only debt is our mortgage on our house.

Okay, good sign. Zach, it's looking up so far. You got one green light. Let's talk about your savings. How much do you have saved?

Um, saved like liquid. Yes. Yeah. About five months worth of emergency fund. Okay, another good sign, Zach. Things are looking really good.

Household income. About 215,000. Hey, tell him what he's won. George, I I still need to know more.

You are such a crush. I'm so excited for you to get on the course. Zack, we're three for three, but I'm going to play this out with George.

Well, I mean, is this a, you know, is this Well, go with your question. Is it 500 bucks a month or is it 200 grand for the initiation?

Wait, wait, wait, wait. That's the question. We'll get to that. What else do you need?

I want to know what your net worth is. Okay. My net worth is about 370K if you include the equity in the home and retirement accounts.

Yeah. And how and how old of a young guy are you? Uh my wife and I are 28. I knew it. Cool. Yeah. You good, by the way? Good golfer.

Yeah. Are you good? That's another question. I'm pretty good. Yeah. What's your handicap?

It's about a 10. Oh, for heaven's sakes. This guy, this guy's chomping at the bit. He's paid his dues. Zach needs membership. Okay, tell us what it's going to cost.

Okay, it has a $1,000 initiation fee. Oh, for crying out loud. They don't even make those that cheap anymore. It's fantastic Zach.

The problem is is it's like 500 bucks a month. Okay, who cares? Oh, look at this. Georgie boy.

I mean, as a percentage of your takehome. I agree. But you're worried about the 500 a month. I'm thrilled over the thousand initiation. You can't find that. Is this a goat track or a nice place?

It's a pretty nice place, but it is semi-private and semi-public. Okay. Well, are there any minimums as far as like food and beverage? Is this like a fancy country club vibe?

Um, there clubhouse is really nice, but no, there's no minimums. Okay, this is an absolute slam dunk. Yes, you can afford this. The bigger question is what does she get to do with 500 bucks of fun money a month for her?

I guess whatever she wants, but she's been getting into golf, too. So, this would cover both of us.

Whoa. Thank you. Thank you. Now, we're bonding as a couple. This is wonderful. I don't like how you quickly went to what does she get for Why do you got to be so

I'm putting myself in her shoes. Well, that was my next question. She's in favor of this. Is that right, Zach? Um, well, we both grew up really frugal and so the 500 bucks a month is like it's like a pain to spend, you know,

for for for your wife as well. Yes. But but is she for this or is she against it for I know the pain's there, but assuming you've talked about it before this call.

Yes, we did talk about it and she seemed pretty excited about it. Oh, well, this is a no-brainer. Um, this is just because you guys have never spent this kind of money on something like this before. It's brand new. But I'm telling you, the first month, oh, I don't know, about day two or three where you guys go out together and the weather's nice and you're in the golf cart, got a little snack, maybe you hit some good shots that day. It's a distant memory. You Your brain will adjust to that spend pretty quickly, right, George? Most 28-year-old dudes are spending double that on a truck payment every month. And so I want you to feel better about your decision, making $215,000 completely debtree except for the house.

I mean, it's a small percentage of your income of your world. And as long as you guys are doing everything else right, you're, you know, paying down the mortgage, investing for your future, then uh the 500 bucks, you'll you'll start flexing that spending muscle to where it doesn't feel as crazy over time.

I got a little something extra here before we let Zach go. Okay, Zach, I have you thought about the ROI on this $500 a month.

I have not. Can I tell you? I wrote a book called The Proximity Principle, but forget the book in the title, just the word proximity. You being at places where other wealthy couples, wealthy men, business people are frequenting, and it's the country club. You never know where the conversations turn and the 6,000 you're going to spend and you gladly do it. and you say, "This is about us. This is about recreation, which is good." Very well could turn into some huge opportunities in your life. So you, you and your wife, I'm telling you, need to sit down tonight.

Whether you believe me or not, I'm right. You hang out at country clubs. Good things happen.

I sadly agree with Ken. Thank you very much. I don't go to country clubs, but if I did, I'd be a wealthier man.

Well, I have invited you before. How many times did I invite you to come play golf at Legends, and you never showed up? Once, maybe?

Maybe once. I think after the first one you went, "This guy's doesn't have us. He's not coming."

You could have driven the golf cart. Now that I would do. Well, we gave you that option. Let's go to James in Dallas, Texas. James, how can we help?

Hey guys, thank you for taking my call. Sure. What's going on? Yeah, I uh work a sales job and so my income fluctuates pretty dramatically throughout the year. I end up making good money, but uh I have to keep money set aside to go through the lean months. So, I'm new to Dave Ramsey, so I do have some debt and I'm trying to figure out, do I need to keep the, you know, which I keep about six months of expenses in an account. Do I need once I pay off my debt, do I need to get an additional 6 months or so of like emergency fund money or would you guys consider that to be the same? And anything above that number, I go and and invest in retirement accounts. I like keeping them separate. I like what you're doing now.

I kind of call it a peaks and valleys fund because you have that low month. You can float by and take it out of there instead of your emergency fund because we know it's not an emergency. It's not unexpected.

And so I I would aim to have both. I like what you're doing. Keep your peaks and valleys fund right now. Pay off your debt, then build an emergency fund outside of that. And as far as that peaks and valleys fund, I would look at 2025 and go, "Hey, what was my deficit? What was the biggest deficit I had in a single month?" And I would keep that plus a little bit of buffer in there.

Okay. I don't think you need six months of expenses. That feels over the top. I think you'll see, hey, I didn't have a Z month, but I did have a few months where I needed to pull three grand out to cover my bills.

Yeah. And once you're debtree, your bills also get lower. So, that's nice. You can be a little more lean. And then once I do have my debt paid off and I invest 15% into retirement accounts, I have a mortgage. Should I throw that money at my mortgage or I've also considered starting a side business but not going into debt with it? What do you

Yeah, those are all separate things that are all good to do. So, invest 15%. If you have extra money on top of that, throw extra on the principle of your mortgage and you can start that side business. Just do it with cash. Start slow and as it grows and you get this kind of bonus money, you can throw that at the mortgage too or reinvest in the business.

Yeah, I like it. James, good, good question. Love that he's doing the discipline thing here.

Yeah, as a salesperson with that irregular income, you can win with it. Great call. Great advice. And you got to love it, James, when when when the ultimate worrier, Mr. Money Anxiety himself, tells you, "I'm carefree. This is what you need to do. I'm a new man. Take that to the bank.

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Oh, the live like no one else cruise is back, folks. For all of you who are living debtree, we'd love for you to think about and actually join us in the Western Caribbean. Do you say Caribbean or Caribbean Joy?

It switches based on my mood to be honest. By the way, I asked the good folks that are natives of the Caribbean and they told me, "Damn, they said it's Caribbean."

So, it is Pirates of the Caribbean is accurate. That is correct. That's how you say it. Uh, this is the only cruise where you can hang out with us and Dave for seven days in paradise enjoying poolside chats. Sorry. The way this is written as though you're going to enjoy a poolside chat with Dave. That's what if that's what you're looking to do, you might be sorely disappointed.

It's not going to happen. I want to go ahead and put that out there. He's not going to sit by the pool and chat with you.

George, on the other hand, might. I'll be tanning for sure. George likes to. Oh, man. You can find Ken on the pickle ball court.

Yeah. As a matter of fact, my favorite thing to do on this boat, it's the same boat that we went on last time and there's a pickle ball court on the top of the ship.

Deloney will be in the workout room. Rachel will be in the spa. And you you'll know where to find us. Where are you guess?

Are you by the pool? I'll probably be at the coffee shop trying out different espressos.

Yeah, I was going to say I think the first my favorite memory of the cruise uh was day two. who I think we were out at sea as I recall and I ran into George uh around the pool and he had he had so much sunscreen on him I thought that he had a mask on.

It was my natural skin tone. You know you're supposed to rub that in. Oh, you just slather it on as though someone basted you with mayonnaise.

I figure it works better if it's slathered. That's what I found to be true on Google.

Well, and just rub it in for the rest of us. It was a little alarming. I thought you were having some kind of reaction. But anyway, that was one of my favorite memories. Hey, you don't want to wait. You ready for this? The ship is already over halfway full. Uh, and the Neptune suites have already sold out, so take that for what it's worth.

Those are sweet. Lock in your spot with a $600 deposit before it's too late. You can click on the link in the show notes or go to ramseyolutions.com/events. By the way, I will tell you it was a lot of fun and I am not a cruise guy, but I had a blast and

it's the only way I can take a vacation is wait for the next Ramsay cruise with a, you know, infant and toddler.

Yeah. Hey, I got to go for work, sir. By the way, you know, you were not bringing the dogs.

No dogs allowed. No dogs on the ship. Nobody wants to see your dogs. Forget it. Specifically your dogs.

Uh Ryan is up in Kansas City. Ryan, how can we help? Hey guys, I'm super excited to talk to you. Um, my wife and I are having a little bit of a disagreement. Uh,

oh, I I have an opportunity to go for a promotion here in the next couple of months, and I am 37, and so my belief is is that I should still be going for promotions and fighting hard to improve my career. Uh, my wife really wants me to stay where I am, and the reason is is that I've got a pretty large amount of anxiety that I've had to have bouts with previously from my time in the service. And I in this position have not had any problems with my anxiety. I have been really great at this job and it's one of the few things that I, you know, like I feel like I can just do well. Um,

what do you, let me jump in really quick. What do you think are the reasons? Is there some evidence that both you and your wife could agree on as to why you've not experienced these anxiety uh, breakouts and some of the symptoms in this particular job?

Yeah. So the easy answer to that is is that I've got the team here is great and my manager is super supportive of me. My manager has a very strong opinion on mental health. He prioritizes it. So he he also lets me kind of have open-ended uh goals for me to go after. So I'm I'm a project lead and and so I'm able to pick and choose kind of the projects that I want. Um, and so these have been big opportunities for me and I've done very well at them. And I think also a little bit of my success has led to my I I guess my mental health being a lot better.

Okay. And have you been doing therapy this whole time as well? No. Have you done therapy before?

No. Uh, okay. Now, here's the deal. I'll let you off the hook. Okay. But listen, I didn't ask I don't want this for a second for you to feel like I put you in a corner. Here's why I'm I'm asking. Because if you've won and you've had very little anxiety issues in the current role, you just told me why. And you've been able to do that without any kind of help because you've had some obviously trauma serving our country, which by the way, you're a great American. Thank you for serving our country. Um but but if you've been able to do this by the circumstances and certainly the manager and how the manager has led you, these are some good signs. And the question becomes then if I'm talking to your wife, if I'm you, she's got a real concern for you, but we've got this this this evidence and I would want to know if this promotion that I have before me, are the circumstances and the manager going to be similar? That question

number one. So what's the answer? No, it's going to be a completely different It's going to be a big change. I would be on a different team, different division, everything. Okay. But but I get that. But have you in the interview process asked enough questions to be able to figure out if the work flow will be similar?

Um I didn't really I looked into it outside of the interview process. Uh at the next step up it's it's going to be a lot more customer focused and so I'm I'm going to be customerf facing a lot more. So the expectation is is it's going to be very different in my I mean the workload's going to be a lot heavier which is good and I don't mind that but

okay but my point is is you have evidence that should now become a list and these are the reasons why you think you've not had any anxiety episodes and you've been able to be pretty healthy mentally in this current role. It doesn't have to be apples to apples but I but I do think it's worth digging a little deeper on this especially with your wife having a concern. And I want to bring George in uh cuz I think he has a unique perspective on this. Are you're listening to this uh your thoughts on this?

I think there's an assumption that the leap would would lead to anxiety. And the other part to think about is okay, let's assume there is going to be and let's plan ahead for that and let's figure out how to manage that if it does happen, but I wouldn't skip over this promotion just out of kind of comfort. That also scares me and I think that can lead to a lot of regret on on its own end. And you there's an assumption too that the grass is not going to be as green as it is now. And I would be asking questions like Ken said, hey, what's the leadership style over there?

What's the team dynamic like? What is going to be the amount of time I'm interfacing with customers? And then we go, okay, now we have a better picture. We have some clarity. Is this worth the leap for the added responsibility and paycheck?

Have you talked to your current manager about this promotion? Yeah. So, I'm I'm very open with him about everything that I'm looking at.

Here's why I asked the question. I would want to sit with him and go, "Hey, you have been phenomenal and created an environment uh and certainly a workflow that has helped me. What do you think about me taking this role? Have you done that?"

Yeah. So, yes, he his statement was was you should, you know, at your age, you should still be going for promotions. you should still be trying to work your way up the ladder. Um,

I agree. But he did tell me he did tell me he goes, "Hey, you know, this next step is going to add a lot more stress onto you." And I know that's something you struggled with in your past.

Okay? You know, if you stay here for longer, there may be options deep, you know, deeper in the future, but I think we've all heard that before.

Yeah. So, here's here's what I'm telling you. I want to bring back around the question I asked you about a therapist. Now is the time for you to actually go get that help. get the tools in place now.

Get the tools and go, I've got I just kind of walked into a situation where it really helped me, but if I'm walking, I need the ability to be able to deal with the past trauma and how that affects me. I would get into therapy instantly. Can I ask what the jump in pay is? What are you making now? What would you be making?

Yeah, so I'm I'm making 107 and my wife also makes around the same. And then uh the jump in pay would be to 120 to about 125. But I've also got disability coming from uh the army which is 24k a year.

Wow. That gives you some options. It really helps you progress with your financial future. Do you guys got some goals ahead?

Well, yeah. So, I've been listening to the show for like two and a half months and uh I've always believed that debt was kind of a bad thing, but my wife got a brand new truck. We're going to pay that off. Um, and so right now we're we're looking to pay that off and my goal is is to have that paid off within the next year to 18 months.

Nice. You got you got a new Y now. I'm taking this promotion so that we can create financial stability for our family and pay off your truck.

But I do think you need to seriously address with her what you're going to do uh to make sure that you have the tools to be able to handle any stress and anxiety with this new role. I think that's a fair question for her and she's asking cuz she cares about you.

Hey guys, Dave Ramsey here. Every day on this show, we help people work through real money problems and figure out what to do next. Now you can get that same kind of help anytime with Ask Ramsey. Ask your money question and get answers built on Ramsay principles we use on the show. Whether you're making a decision or just want something explained, Ask Ramsey is here to help. It's fast, simple, and free to use. Go to ramseysolutions.com and try Ask Ramsey today. That's ramseyolutions.com. All

right, in the lobby here at our Ramsey headquarters, we've got Randy and Erica on the debt-free stage. Welcome.

Thank you. Hello. Where are you guys in from? Uh Boise, Idaho. Boisey, Idaho. Okay. Welcome. Welcome. Welcome. All right. Let's hear the numbers. How much debt did you pay off?

380,000. $380,000 in 13 years. In over 13 years. Okay. And what was the range of income?

100,000 to 200,000. Okay. What do you guys What do you guys do for a living? I'm a school principal.

Okay. I'm an occupational therapist. Okay. Wow. Fantastic. All right. So, what kind of debt are we talking about?

OUR HOUSE. OH, WHAT ARE THOSE people over there? peaking suspicion. I was like, "That amount of money over that amount of time feels like they were knocking out that mortgage."

That's right. That's right. That's incredible. They would want us to call you weird people right?

I won't do that. I'll leave that to Dave. I felt like we had to do it. I only say that because I know he's thinking it somewhere. Yes.

We're the weirdest people around right now. So, that's that's a fact. All right. What is the house worth?

900,000 approximately. Oh my goodness. And what do you guys got in your nest egg?

Uh, another 700,000. Oh my goodness. We are going to baby steps millionaires. That's not even including pensions and cars and who knows what else. That's incredible. Cash. I want to point out this is a man who's in education. So, I mean it can be done, can it not?

Definitely. And you did it. All right. We That's right. You did it together. Yep.

Uh, so what took place? What was the impetus 13 years ago to say we're going to pay our house off?

Um, it was the feeling of panic, I guess, would be best describe um what happened. We um we needed to buy five plane tickets for a funeral for my father. And at that moment, we we had to put it on credit. We just didn't have anything in savings. We didn't we never planned anything ahead. We were not prepared for anything. Car broke down, whatever. We would just have to put it on credit. And you know, it was a major kick in the stomach knowing we knew this day would come and we just we just weren't ready. And it was pretty horrible to have to worry about money at that time instead of being with our family. So um I think from that moment on is when we seriously said we have got to do something and we got back from that trip and a friend had done financial peace or had knew about Dave Ramsey and we had no idea who he was and she talked us into doing the financial peace class. So that's kind of when the

whole thing started. So who did you get the idea from the friend together or did one of you get it and had to bring it home to the other? Yeah, it was a parent at my school.

Okay. And um became fast friends and we took the class with them and then Erica went on to teach

as soon as it was over. I taught a class at at our um at his school. He worked at a Catholic school so we taught the class there and we were just like we just have to it just helped our fire, you know, just kind of doing that.

Yeah. It's it's hard to not stay accountable when you're teaching the stuff, telling everyone else to do it, right? like we got to be doing it first.

Yeah. And it was incredible. It was tough. Like in the beginning when this the lesson where you have to cut up your credit cards, he was like, "Nope, not doing that.

This guy's gone too far. This Dave guy." Oh, I love that. So, you're in the class together and that lesson pops up and you're like, "Whoa, this is a bridge too far."

Yeah. It was a gut check. And years ago, Dave said it's um usually one credit card that you have a hard time cutting up. And for me it was it was uh my first credit card. My dad provided it for me. Sure.

And um I don't know why it had strings attached. Sentimental. Yeah. Yeah. But uh cut up the American Express and and we were go

right. But every every class I remember it was like okay we need to do that. Like we we we had done nothing. I mean every class we learned something and then went home and did it. And from that moment forward, it just kind of, you know, it's went from there. So,

so how do you stay motivated 13 years? You know, I'm sure there was some fits and starts and some great seasons and some seasons where you're like, we're not making much progress here. What was it like?

And one of those the season that we really turned it on was co. Um, obviously as educators, uh, we still

were lucky. We were lucky. We still had our jobs. I was a school occupational therapist, so I worked in the schools. He was working in the schools and when others were struggling with no income, we still had ours and we weren't spending money on anything. And at the same time, he was able to get extra jobs teaching online, teaching night school,

doing school, u deficient in credits. Uh took a few jobs. One was a a lift operator at our local ski mountain. The worst job I've ever had. Really? Why is that? I I don't know much about that.

It's You're cold and you're seeing people having a blast uh skiing in powder and you're saying

there's your chair. Yeah. Okay. I was picturing you like maybe on some type of a, you know, lever or stick and if somebody was particularly smug, you just put it stop and they fall off. I didn't know if that ever happened.

Okay. Good, good, good. And uh um lumberyard some a lot of jobs in Erica also. Good for you. I worked probably for 10 years uh every weekend doing um therapy in rehab settings like in adult rehab. So I worked in the schools and then when I had summers and Christmas off I would pick up work doing extra at adult rehab so that I could make extra income. So

yeah, you know, I just thought of something I wanted to ask ask you both, but certainly Randy, you know, here you are in esteemed position, you know, in what you do

and here you are operating a lift, working in a lumber yard. And I think there are people that are listening and watching you both right now.

And George, you mentioned this earlier in the show. You talk about pride and we all have pride, but pride can really, you know, rear its ugly head when you need to swallow your pride and do what it takes. What would you say to people because you I'm sure you dealt with that. What would you say to people that are feeling that because right now they're out driving, delivering something or doing something they feel a little shame over,

right? Um there's no no feeling like being debtree and u we had our last mortgage payment in September

and it was we were giddy and our kids have been so supportive but you're right it was a lot of pride swallowing. Um Erica was always there to say you know let's stay focused. Um, I can rem distinctly remember a day. It was about 105 working out in the lumber yard and flies are everywhere and I'm thinking, what am I doing? I'm, you know, 52 years old and picking this up.

Just to add, sorry, I don't mean to step on you. Um, when you get your paycheck though and you can use that to pay for all the the extra principal or all the utilities instead of something else, like it it kind of helps to take away that like it was brutal getting up at 5:30 in the morning to go to work for 6 hours, but when I got my paycheck,

I felt like I did something and it made a difference. You got like a little dopamine hit. You go, "All right, that was worth it. I got some instant gratification here after all my hard work." Yeah.

I just love that Randy is either sweating or freezing with all the side hustles.

Did you not pick something a little more temperate? We got to get this guy an indoor side hustle where the air is regulated.

Ken and I are indoor cats. So, we're really We don't do well outside of this air controlled studio. All right, real quick. Tell people what the key to getting out of debt is.

Go ahead, Eric. H um you have to get to that moment where you are just like Dave says, sick and tired. And you when you get there, there's nothing that's going to stop you. You're going to just do it. If you're ready, you're gonna do it and you're gonna be gazelle intense and it's gonna sustain you and you're gonna make it there.

Love that. Yeah. Who are some of your biggest supporters on this journey? Our definitely our kids. Um I got to throw in there our kids were um they didn't really tune in. they're uh 24 22 20 and um it didn't hit them until they were going to college which we cash flowed completely and um where they had Roths set up they were working they were putting money in and then they realized hey we're close to being debtree and they were talking about going to school and uh with a with a a fellow a friend who's $100,000 in student debt and that's when it really clicked for them.

So they've been our biggest how blessed and privileged they are and you guys change your family tree.

I think they realize how lucky they are. All right. I hope so. So this is the moment you guys will work so hard. This is the emotional finish line right as you get ready for the scream. Here we go. This is fun. We got Randy and Erica from Boise, Idaho. They paid off 380,000 in 13 years, making 100 all the way up to 200,000. Randy, Erica, take it away. Let's hear your debtree scream. Three, two, one. WE'RE DEAD. THERE WE GO. They did it, George.

So fun, isn't it? I keep thinking of Thomas Jefferson. I'm a I'm a great believer in luck. The harder I work, the more luck I have.

There it is. I like that. Even if it's in the lumber yard or on that ski lift raising your butt off. Hard work creates luck. And they've uh created that for themselves. Hey, George Camel here. So, you're thinking about buying or selling your home. It's exciting, but there's a lot to think about, and all those decisions can feel overwhelming. Well, here's the good news. You don't have to tackle the process alone. Ramsay's Real Estate Home Base is the place to find all of your free tools and resources for help to get prepared to buy or sell your home with confidence. You'll find calculators, start to finish guides, a podcast, and even an in-depth video course hosted by yours truly. What's not to love? So, if you're ready to take the next steps toward your home goals, go to ramiesolutions.com/realestate.

That's ramiesolutions.com/realestate. Our scripture of the day comes from Romans 13:8. Owe no one anything except to love each other, for the one who loves another has fulfilled the law. I love you, George. Thank you. I appreciate that. I love you, too, Ken. There you go. No debts owed, just love. That's it. It's all we got between us.

I'll put that on a shirt or stitch it on a pillow. And our quote of the day from Mark Twain. Don't go around saying the world owes you a living. The world owes you nothing. It was here first. That's a sick burn from Twain.

You have to love him cuz he was the original snark. If Twitter was around, he would be the number one tweeter out there.

Uh, bonus points. Little known fact, some people will care. What is his real life name? Oh, I know this in the back of the recesses of my mind. Is it Charles?

I think somebody in the booth does somebody in a booth know. I'll give them credit.

All right, hit us. No, nobody has. It's Samuel Clemens. Samuel Clemens. For those keeping score at home. Hey, you know, I like to bless America every once in a while with a little known fact he can drop at a cocktail party. Maybe or not.

A trivia night. Or trivia night. Yeah, that could come in handy at your local Applebee's.

What was Mark Twain's real name? I see that showing up. And I can't on my trivia team. I'm just saying.

Trust me, you do. Strong in the area of political and uh history and sports and not bad in entertainment. Uh where I where I'm a real liability is science and math.

Who does trivia around math? That's the worst trivia night. I don't know. I don't go to these things.

Okay. Uh Brooks is up in Chicago. Brooks, how can we help? Hi, how's it going? Thank you for taking my call.

You bet. What's going on with you? So, um, I'll just cut right to the chase. Short story. At age 34, I was diagnosed with stage 4 positive lung cancer.

Oh my. And I'm 37 now. Um, I have four children. Um, I've been on disability the last year and a half. I did I did start working in October. Um, just two or three days a week, but um, back down to one one day a week now. But my question is, um, I I have a Smart Investor Pro friend that, um, handles my finances, and we were able to do a life, um, Viatical settlement on a $500,000 life insurance policy. Um, my my cancer is terminal, by the way.

So, that's why we decided to Well, that's why we decided to do it. Um, and we settled with 29,000. Um, we it's as of today right now it's at 228,000 in a brokerage account and I also have a traditional IRA at 73,000. Um, over the last 10 years, you know, we've had some debt here and there, but as of today, we are debtree except for our mortgage.

Wow. Um, so my question is, what do I do with my situation? Um, I can give you my like how much I make a month or whatever you guys need. So,

how much is uh on the house mortgage? Uh 284,000. It's valued at 599 as of spring of 2025.

Wow, man. This is a heavy one. I know you've been sitting with it. Uh what what does your family think about all this? Have you talked to your wife? Because a pretty there's some big financial decisions to make here, too. Uh yeah, my wife is um she's on board with whatever um we decide to do together. Um we, you know, have been in it from day one. We've been together for 20 years, married for 14, a high school sweetheart. So, um whatever decision we do make, we make together.

So, what is the the sort of fork in the road as far as financial decisions for you? Um, I guess knowing I have a 10-year-old 8-year-old 6 and three-year-old, what to do with the brokerage account? Um, do I let it grow until I have enough to pay the house off and then do it, or do I let that continue to grow, um, not knowing exact I mean, I know none of our us know exactly how many days we have, but knowing that I could have, you know, three, five years, you know, or less. Yeah.

Or more. And what happens with the brokerage account if you would pass? Um, my wife, it's it's uh it's in the joint brokerage account.

Okay. So, it' go straight to her and then she can use that to pay off the mortgage. So, that's one option versus taking what's in there now, throwing it at the mortgage, and then using your future income to knock out the mortgage over a period of time.

Yes. Correct. Man, I would personally, if I was in your shoes, I would just hang on to that brokerage account for now. Mhm.

You don't have enough to knock out the mortgage and so you're still going to have that payment every month. And so I'm totally good with you just waiting. If you have enough to knock out the mortgage and it just give you guys peace, then I would do that at that point.

Okay. What did your Smart Investor Pro say? I'm curious. Um I've asked him um once when I before we got the money. I haven't followed up with him yet cuz we were just kind of letting this grow. Um, but he he said, you know, to keep hold on to the money as well and let it grow.

Cool. Yeah, I like that plan. There's just a lot of variables coming up and who knows how they'll use that money and, you know, what income stream they will have after that. Have you guys thought about that portion? Will any of her disability or your disability go to her?

She should be able to draw off my um disability. Yes. if if I pass if I if I understand the the laws and everything, right? Um and then the kids also, it's about they get about $1,000 a month.

Okay, that's great. I would make sure to do your due diligence on on how the future income is going to happen. That's more important than just solving the mortgage problem. You want to make sure they can cover all their expenses with or without the mortgage. But man, these are you don't want to be making these kind of decisions um with your diagnosis. So, I'm so sorry to hear and I'm wishing you the best, the longest life you can have and the best time you can have with your family.

Yeah, Brooks, we're so very sorry. Uh you're you're you're just so strong. It's it's unbelievable that we're even having this conversation with you. Uh you sound like you just got a great frame of mind uh given this unimaginable situation you're dealing with. So, yeah, this is a lot of communication over these things. Seek the counsel of many. uh make decisions uh as best you can um without any time of fear, but just say, "All right, we're going to make the best decision we can make for the future." And uh and let the chips fall where they may. So sorry you're dealing with this.

Thank you for sharing a bit of your story with us, Brooks. So so so unbelievable there. Uh let's go to Chris now in Atlanta, Georgia. Chris, how can we help?

Hey, how's it going? Thanks for taking my call. Sure. What's up? Um, so I am about $20,000 in the hole on my current vehicle. Um, and I'm getting ready to sell my house. Um, I just moved to Georgia from Michigan. I'm closing on Monday. I'm going to net about $66,000.

Okay. And so I'm just wondering, should I just bite the bullet and get rid of this truck? Um,

what's the What's the truck worth? The best. Uh, it's worth about 35. I just recently got it appraised and I owe 53.

Okay. And what's your income? Uh, right now about 60,000. Yeah. Yeah, this truck has to go, man.

If you were making 200 grand and you love the truck, I would say, "Hey, just pay it off with the net proceeds of the house and be done." But this truck is just too much of your world.

Yeah, I was making closer to uh six figures when I originally bought it, but that uh that changed.

What's the payment on it and the insurance? It is $900 a month for the payment and another $230 for the insurance. So, here's the good news. You are going to take a hit and if you can sell it private party, get as much as you can for it, it'll be less of a hit. But that 66k net is going to turn into 46K net and you'll clear the the loan and the mortgage and sorry, the insurance, which frees you up, 1100 bucks a month for the rest of your life. And then with the other money, you're probably going to need something to drive. So, let's get a $10,000 car, $15,000 car in cash. And then whatever money is left becomes our emergency fund.

Well, I'm hoping to buy another house down here in Georgia. Not anytime soon. With what money? Cuz once you cover the deficit, get an emergency fund and buy a different car, that money is is has been earmarked?

So, if you do it this way, now we'll have a clean slate financial foundation. We'll never need to go into debt again. Then we can begin saving up a down payment. But making 60 grand, it's going to take a while to buy a house where you're going. And that's okay. Move slow. The reason we're here today is because we moved fast and made a lot of assumptions. Let's create some financial peace. You can do it, Chris. Hang in there. Freedom is on the other side of all this. Thanks for the call. Remember folks, there's ultimately only one way to financial peace, and that's to walk daily with the Prince of Peace, Christ Jesus.

Questions about this episode

Who speaks in "Take Control of Your Finances by Setting Boundaries | February 9, 2026"?

Ken Coleman (Guest), George Camel (Host), Madison (Guest), Kate (Guest), Brooks (Guest), Chris (Guest).

What is "Take Control of Your Finances by Setting Boundaries | February 9, 2026" about?

The discussion centers around financial boundaries in relationships, highlighted by a caller's experience with a partner who has been unemployed for over two years and expresses distrust regarding financial management. The hosts explore themes of financial abuse, the impact of long-term unemployment on relationships, and the importance of setting clear financial boundaries to foster healthier…

What is mentioned in this The Ramsey Show episode?

11 people, works and ideas are mentioned, including George Camel, Mario (Sherry Coleman's brother), Financial Peace, Dave Ramsey, Viatical settlement. Each one on this page links to its own page with every episode that mentions it.

How long is "Take Control of Your Finances by Setting Boundaries | February 9, 2026"?

The episode runs 2 h 8 min; the transcript is about 23,941 words in 491 timestamped sections.

More from The Ramsey Show

About this transcript: the episode's spoken words as captioned on YouTube, split into timestamped sections. Reclip.Me locates every person, work and idea in the text, keeps the time it is first named, and quotes the words around it verbatim. Last updated February 9, 2026.