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[00:00:22]

Live from the headquarters of Ramsey Solutions, broadcasting from the car rental studios, it's the Dave Ramsey Show where debt is dumb, cash is king and the paying off home mortgage has taken the place of the BMW as the status symbol of choice. I am Dave Ramsey, your host, my co-host today on the air, Crystal Wright Ramsey, personality number one, bestselling author, the creator of Business Boutique. And well, today, business boutiques got a big announcement.

[00:00:51]

Yeah, this is huge.

[00:00:52]

So we've never done this before ever in the history of business boutique. But this year, for the first time ever, we are offering a live stream experience, a live stream options. So if someone is listening and they've wanted to come to the business conference for the last few years, but they haven't been able to for child care or travel or whatever the reason or even this year, if you can't travel for some reason, you can enjoy the entire experience from the comfort of your home, all the amazing sessions and speakers.

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It's going to be incredible. And so we're so excited to launch that today. And people are freaking out on social media because they have been asking for this for years, Dave. Yeah, and it's sold out almost. Yes. We have a few tickets left if you want to come to Nashville and enjoy the event in person.

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And we're running about a 50 percent capacity, you know, on purpose. Yeah. With covid idea and so forth. And then on top of that, you can choose for 120 million to decide to do business boutique as a live stream. And we've got a serious lineup.

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Yes, this is going to be incredible. And it's amazing, too, because every year we change up the speakers and we always cater the speakers to the topics that this audience needs. So we know what they struggle, what they struggle with marketing, with social media, what's selling with managing the business finances. And so we've got this incredible lineup of speakers that are going to speak to those different things. One of the things I'm really excited about, we've got Jamie Kolyma and she is the founder of cosmetics that recently sold to L'Oreal for a billion dollars.

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Like she may know a thing or two about business. Like she's got an incredible story. She's got this heart of gold. We've got Lisa Vivir and she's a powerhouse speaker. I've heard her speak many times. She will bring the House down. We've got A.F. Down doing a keynote this year. And then Kelsey Humphries is going to be our emcee. Chris Hogan is teaching us how to sell. And you know, of course, Hogan tells you how to do something.

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Yeah, you can't do it.

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You do it. You listen to the voice. That's right. Elizabeth Hasselbeck.

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Yes. And she's just she's been on the Kristy Right show recently. And people love that interview. We talked about balance. And so she'll be back speaking with us. And so. Oh, Angie Butler of Juice Cupcakes. And she's an incredible story as well.

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So it's just going to be a lot of fun. But you're also going to get that kick in the pants that you need, but also the inspiration and encouragement and also the community that you need to stick with this stick with your dream and a really hard year. Yeah, yeah.

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That has been a tough year. And sometimes you need to, like, go to church. Yeah, yeah. That's that's just like that's what we do.

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You know, you need your you need your tank fill back up. That's right. And so that's what business boutique will be this year. And again, it is always that, but particularly important this year.

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And so the dates are October 22nd to the 24th, the entire event, those three dates will be live streamed. So if you get your live stream ticket, someone asked me today on my Instagram live that I did. They asked me if it's just one day. No, it's all three days. The whole event is live streamed. We also have a VIP option. We're working on kind of creating a great experience for that ticket option as well. But the tickets are one hundred twenty nine dollars.

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They can get them at Christie, right. Dotcom or Dave Ramsey Dotcom, of course. And and I'm really excited because you know why thousands of women are going to get the help they need because they're able to attend in this way. And so I'm just so excited to see what this is going to unleash in in these women's lives, but in this community, because we're opening this up. So I'm so excited.

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Yeah, good. Good deal. The livestream is available again. We've still got some tickets. If you want to come to Nashville, we'll be here. You know what I'm experiencing here on the show and we're experiencing at the breaks. I mean, we have people from Wisconsin or Michigan or California or Pennsylvania where hardly anybody is out moving around.

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Yeah. And they're coming here to middle Tennessee and things are a lot more normal. Yeah. You feel normal.

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So, you know, you can come in here and sit and, you know, we're not all freaked out and going crazy and stuff. And the same thing will be true if you want to if you kind of want to need to escape your state temporarily.

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Yes. You can come to the event. You want to know how to do. The live stream in some states right now are worth escaping, at least temporarily. So, yeah, this will be October 22nd through the 24th, a huge line up of speakers. We've done this event for many years. It's always a sellout and this year will be no exception.

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Even with numbers down due to the virus, we'll be running a fifty percent capacity, which will also make it chillout.

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Yeah. And so we've got a few of those tickets left. One hundred twenty nine dollars livestream ticket, if you want to do that as well, or do that for the lady in your life. Either one. The phone number or the the address to get your tickets, triple eight, eight to five, Chris Christie right dot com or Dave Ramsey dot com, I couldn't.

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So our phone number, if you want to talk to us, is triple eight eight two five five two two five.

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Your questions about your life, your money, your business, whatever it is, Kristi and I are here to help today here on the air, triple eight eight two five five two two five.

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Brannon's going to start us off this hour. And Brennan is in Dallas. Hi, Brennan. How are you?

[00:05:55]

Hey, Dave. Hey, Christi. How you guys doing? Great. How can we help? Thanks so much for taking my call. I've got about 30 or so. I own a small business. I've got a 60000 SBA loan, and then about twenty eight thousand dollars left on my car. I make about 175 a year, 180. Bottom line, 500 top line. I'm 21 years old. I'm trying to figure out if I should pay that.

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Thirty thousand dollars I've got in cash in the business on the car or I should put it on the SBA loan or keep those savings just in case.

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OK, what are you doing at 21?

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Making 175 grand. That's pretty studly, dude. Thanks. I own a small marketing agency. It ain't too small. That's awesome. Yeah, well done, man. You're killing more people for people than me. Thank you. Well, you've got to. Yeah, you've got to.

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You've obviously found a sweet spot, a niche, and you're exercising in it very well. Well, both loans, as you probably noticed, are signed by you.

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Yes. And so while you make a distinction between business and personal, the law does not.

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And so these are both personal loans, and I want to clear them both up as quickly as I can out of this, you need to judge what your operating capital needs are.

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And I can't tell that from this conversation, about 85 percent of all the money that we bring in a 35 percent profit. Yeah. So, I mean, you know, you need to I don't want the business to be bone dry. And so you need to hold some of the 30 as retained earnings for the business for it to run.

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But I would just set yourself up some kind of a formula that above above my baseline needs for retained earnings. I'm going to throw everything at the debt and I'm going to work on the smallest to largest.

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What would you do? Well, that's actually going to ask you, because we've never talked about this before, where when you have a business debt or multiple business debts and you have personal debts, like you said, it's it's all yours. But when you're creating your debt snowball or you're creating your plan, are you putting those together or OK, you are. So it's not like we're going to take one again.

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And then again, the risk is exactly the same. An SBA loan is basically a bank loan that you happen to use for business. OK.

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And it's probably secured by a house or something like that. And you've probably got some other security or collateral up for it.

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And it's just a loan we want to clear.

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Good news is his isn't very large. Yeah, it's got a small loan. By SBA standards, 60 grand is pretty small and you're killing it. That's the other good news. So if you're making 175 level nothing clear both these debts in a year date. Yeah, that's what I would do. You only got, what, 90 grand? You cleared up fast as a ratio to your income in your situation. Well done, man. That's impressive.

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Yeah, I didn't see one hundred seventy five thousand one hundred and twenty one are when I was 21 years old. I didn't see if I had it was in somebody else's pocket. This is the Dave Ramsey Show. Check out this headline courtesy of Politico, Dotcom emergency relief screw up hits five million student loan borrowers, nearly five million student loan borrowers who got a break on their monthly payments from Congress have been hit with incorrect information on their credit reports.

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That's what happens when you just sit around and trust the government to take care of your money issues. Refinance your student loans today to take advantage of the historically low rates Splash is offering. Go to splash financial dotcom Ramzi.

[00:09:43]

Ramsey personality Christy Wright is my co-host today here on the air. This is the Dave Ramsey Show, Open Phones, a triple eight eight two five five two two five.

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Your questions about your life and your money. Daniel is with us. Daniel's in Dallas, Texas. Hi, Daniel. How are you?

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I'm doing well. Thank you for taking my call.

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Sure. What's up? So I'm 35 and I've never been married. I met a young lady that I'm thinking about marrying have a unique situation, kind of unique situation, that I have a net worth around a million dollars. And so I kind of have a two part question. What should the conversation sound like whenever I disclose all this to her and then do any prenup?

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And they've discussed it before, but it's kind of like get your thoughts, you know, what's her financial situation?

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You know, the only thing we've really ever talked about is debt and then kind of savings. She's very frugal, like she has an iPhone six. She has money saved in the bank and she has no debt paid for car and so on and so forth. Very low maintenance. That's like having appeal. And I have not disclosed anything to her other than I don't have any debt. And I'm also pretty frugal. And she can tell, like, I don't know.

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So but yeah, she's very down to earth. And so I just don't really know how to lay it on her without being like, hey, I have this money, but I don't want to go buy a brand new audio or anything, so.

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OK, well, what's the million dollar net worth composed of? It's some retirement accounts and they're like mutual funds, I own some individual stocks, I own a few rental properties in Dallas. Well done. Such a good job. How long? I've been dating only six months, but I've been dating for 20 years. And, you know, they say when you meet the one, you're going to know and I'm kind of getting that vibe from her.

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So that's why I'm taking a lot more seriously.

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Know, Christy, sounds like some talk about this. Yeah. And it's interesting because I think that. Well, let me ask you this. I've got a follow up question. When you say how should I do it? How have you played it out in your mind? Like, what fears do you have? Because I sense that, like, there's some hesitation on your part, but I'm not sure what it is. Right, a friend of mine recently had a pretty good sized network news, like 890000 bucks, and he's going through a nasty divorce and she's going to get half of it.

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And it's like he's telling me, man, you really need a prenup and be careful what you do with girls. And I realize that he's saying that just because he's in that set of circumstances. But the same time, it's making me kind of rethink my position. And then, you know, money never really fully know somebody. And so whenever you start disclosing information like this, it can be one of those things where you get turned on your head like, oh, I thought I knew this person.

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And now she's acting completely differently. So that's kind of where I'm at with that.

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You can't control how she reacts. Correct. And you certainly can't get married if you haven't disclosed this.

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So you've got to start. Correct. It sounds like it's time to talk about it because you're talking about popping a question and you feel like you're you know, you're this relationship's going to end in marriage. So, yeah, you definitely got to start disclosing and talking about it and you're going to have the prenup discussion later. You don't have to do it all in one. In one, you know, one. Sit down.

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The only time I used to never recommend prenups, I used to say, if you don't love the person more in your money, that you shouldn't get married.

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And I changed that after about a decade of coaching people because I ran into extreme wealth, which a million dollars at 35 years old is pretty extreme.

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When I run into large amounts of wealth, I found not that the person that you're marrying is usually the problem, but if you don't have a prenup as a boundary, the crazy people in their family come out of the woodwork.

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And so and if they you know, and if she's if she knows Crazy Bob's going to call, she can just go crazy. Bob, there's a prenup and I can't do it.

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I don't have access to this because I if the family starts finding out or somehow realizes that that, you know, she's hit the gold, she's had a gold vein here and and is is, you know, going to be set then and some bad member toxic member of the family. And most every family has at least one crazy bob in it.

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Right.

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So, you know, so, you know, it just brings out the weirdness in other people more than the person.

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And and I don't mind to I would probably recommend that over a period of years that the prenup erode to nothing like if you've been married 20 years and you're not willing to do that, then you got you got other problems in your marriage.

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You're not willing to do away with the prenup at that point.

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But this thing of you don't want to spiritually or relationally get in the thing where I'm putting the money as more important than the relationship, but it's just to keep the weirdness away.

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Right, and I was going to ask her was during the discussion be like, listen, this is between you and me, please don't disclose this to anybody else trying to try to eliminate any kind of drama or anything that happens or someone asking us for money. I really don't want to deal with that eventually.

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That's going to come up, though. Right, somewhere, sometime, somehow. What do you what do you mean by that you are going to come up? Well, I mean, the chances of you going five years being married to this girl and her parents don't know you're a millionaire. Zero.

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You think so? Yeah. Oh, I don't know, Daniel. I think that if she doesn't if it's Yarl's money, you get married, it's your money, it's your team and you and she don't want to tell people either.

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I think it could be. Yeah, it just that's. Well, they don't not like you're going to be bragging about it on Thanksgiving dinner.

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It's just going to come up. What's I mean, it's just none of their business. I guess I'm just so private about that. But here's what I would say to you. And one thing I did want to jump in on this with the conversation with your girlfriend. One of the good things that I think you can take such encouragement is, is her qualities financially are already in line with your values. She's not a diva that spending all this money and you're worried she's going to find out you got a million dollars and she's going to be like, great, I get to go shopping.

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She doesn't seem like that kind of a woman. And so I think you can approach it with with more confidence of knowing that she's hopefully not going to be a completely different person on the other side of this information. She if she's living frugally now, those are her values with money. I don't think that that would change drastically with the amount of money that you have. I would hope you'll find out. But I think you can take some some encouragement there.

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Yeah, I would recommend a prenup for a period of time and just as a boundary more than anything else. And again, it erodes over some period of time to where it goes away. And because it does need to become our money at some point down the road and you can treat it like our money and you can treat the discussion like our money, you don't keep your finances separate. After you get married, you're going to be running things together and so forth and you know you.

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But what you're trying to protect against is some bizarre thing happening with a divorce or a bizarre family member, you know, somehow getting involved, I. Privacy is one thing, secrecy is another, so be private, but you don't have to be secret. I don't have to be ashamed. I don't discuss my net worth with my family exactly what it is in terms of I do with the kids because they're in the estate plan.

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But my extended family, you know, Sheeran's brothers and sisters, I mean, they obviously know we have a level of wealth, but but they don't they don't have any idea exactly what it is. And I don't disclose that publicly either. So. So that's privacy. But I don't have to also be secret about it just because I'm afraid Howard is going to react to deal with it. It's part of who we are and we're not ashamed of it.

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We've been successful and you know, we're not rub anybody's nose in it. We're not we're not thumping our chest and saying how big a deal we are or something like that. That's not the point.

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But I'm also not going to hide in. You know, I can't let anybody find out because of how they might react now. Yeah, that's on them. If she flips and becomes a diva with this information. And that was your assets. She's not. She's not the one. That's right. You know, and so it's a good it's a good time. But it sounds like to me the conversation is getting serious enough. It's time to start talking about this, do you think?

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Yeah, absolutely. And it's interesting, too, because I think what's cool is on the other side of this, when you have the conversation, it's going to bring a whole different level of connection and excitement about what the future holds for both of you. So that's got to be really fun.

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Yeah. What was the teenagers used to call it, like when you in Rachel or teenager define the relationship? Yes.

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Yes. Dr. DCR, there's a dad of teen girls right there, formerly a dad of teen girls, a dad, a formerly teen girls. I get that right. Yeah, it's stuck with me because when we didn't, you know, we didn't win to find any chips when I was growing up. You're there. Yeah, either. Yes. Or you and. Oh, well, this is the Dave Ramsey Show.

[00:19:26]

We're always looking for ways to save money, and that's why I'm a huge fan of Honey Honey is a free online shopping tool that automatically finds the best promo codes and applies them to your car. It's so easy. It's saving more than 18 million people over two billion dollars. Shopping online ad honey on your browser today for free. Make sure they know you're part of the Ramsey tribe by going to join honey dot com. Ramsey.

[00:20:09]

Well, we love doing debt free screams here on The Dave Ramsey Show, a family that has worked and sacrificed, enslaved to get out of debt. We love doing them in person here in the debt free on the debt free stage in the lobby at Ramsey Solutions.

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Some people call in real people in person.

[00:20:27]

But the ones we love most of all is when our old people rioted on our team. Our people get debt free.

[00:20:34]

Our family and J.B. is with us.

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J.B. Wagner and his wife Kolby works on our Jabe, works on our team as a senior video editor.

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Been here about two years. Is that right? J.B. Yep, that's correct. Wow. And debt free.

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Finally, congratulations. How's it feel?

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It feels like a weight off our shoulders, that's for sure. How much did you pay off and how long did it take? So we paid off 51000 dollars in four years, but half of that, around 26000, was just this past calendar year.

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Wow. So since you come here, you turned it up. Oh, yeah. Oh, yeah. Very cool. So what kind of debt was this? 51000.

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So we had a couple grand in an engagement ring.

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So glad to see that gone crazy. The engagement ring. No, no, no, not definitely not that to be clear.

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Just to be clear, let's just be clear about that. We had 5000 credit cards, 7500 to the IRS, Dr. Bill, with our first son, who's in the nick you about eight grand and then student loan was a whopping 32000. So there it is.

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Old Sallie Mae is over half of it. Yeah. Yeah, very, very good. Wow.

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Well, congratulations. So you started four years ago, but coming here in two years ago, the heat shone like the heat turned for maybe the income changed and some other things.

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But certainly the peer pressure here is all for peer pressure, all positive. Everybody here is cheering for you, rooting on and that kind of stuff. So tell me the story. How did this all go down?

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Well, my dad, he taught FPU and I remember listening to your show as we as he took me to college many years ago, but I just kind of went and did my own thing. Was pretty irresponsible with money, just kind of a twenty something, just living my life being irresponsible. And we ended up getting married about five year, almost five years ago now. And I had been listening to the podcast and listen to Andre Leadership podcast and everything, and we just kind of soaking it in and thought I knew it, but I wasn't doing anything with it.

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And then we got married. We like, you know, we should have a plan for this. And they actually showed one of your videos to our whole church in one of the services. And afterwards I was like, you know what? I think you'd probably enjoy it more if you heard him teach it than if I taught you it, because I'm not even doing it. And so we took the class and it was just like hook, line and sinker, like, yes, this is what we want to do.

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And it made such a big difference that it wasn't me on my own doing it anymore. It was the both of us together. There was accountability and we just went after it cutting up the credit cards, which is a big thing for you, because you basically lived doing credit cards, paying it off every month.

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So how hard was that? Coleby It was sad to cut up my T.J. Max card, this one. But once we did it and it was gone and then once we got it in the snowball and we saw it disappear from the snowball and I realized you didn't have to live your life living on credit cards.

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Yeah, A.J., Max checks cash. They do do the price. Surprise. So who knew? Yeah.

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So that's that's fun. So he comes to you and he goes, OK, I'm a financial piece, baby. I know this stuff, but I've not been doing any of it. Maybe we need to do this stuff. What do you say?

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Yeah. So he had talked to me, he played a couple shows for me and I was like, oh, that sounds good. But it wasn't how my family how we grew up doing finances. So I was like, oh well it sounds good, but we can do it a different way. And then we took FPO and I was like, this makes sense. You don't have to be a mathematician. You don't have to be a genius. You follow the budget and it works.

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Yeah. So I like that. It was so simple.

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OK, and you said you made over half of this was done last year. Yeah. What was what was that due to. I was extrapolating into that, but what was that.

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Yeah. I mean some of it was just us continuing. It was the third year of doing it. We had some outside gigs of some extra editing and stuff. But really it was just like the last year of doing it. And I think even our last month we started seeing a word like 100, 200 dollars away. Let's start selling things, let's do garage sales, let's sell. Think you're really good on POCKMARK. And it was just that little extra thing that we needed.

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And we even made some paper chains of like the last three weeks, like every day cutting it off. And it's like this is for the credit cards. This is for that's the IRS having to deal with them. This is for the Mănescu. In that last minute issues, we were having last minute bills and stuff and it was just like, we just need that last little bit to get to the end.

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It's funny when you can see the finish line, even if you're tired, you can still sprint. Oh yeah. Oh yeah.

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Because it's like there it is. I'm going. So it's like, you know, wow, very cool. All right, so you've been here two years, you've edited a bunch of video during that time of us teaching this stuff.

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So you're now you really learned it and you did it. Yeah. So what is the secret to getting out of that?

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I mean, the secret one is it's so huge having someone else doing it with you, because on the days where you don't feel like it and you just want to waste the money, Best Buy, you've got someone else, it's like, well, they're looking at the account, too.

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She's like, I got things to see Jim, actually. So I'm sure they're saying tiebacks. Yeah, exactly.

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But another big thing was that the old building I lived, I worked, lived is actually a pretty good word. So I was up on the second floor of the building and I was right next to the door by the kitchen where it was just me and that door. And then it was you could hear the atrium where people are doing their debt free scream at school every single day, and sometimes with the door open at the right time, you got the full wave of the of it.

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And just hearing that and then working on F.P. on the editing, a lot of millionaires talking about their lives in baby steps, four through six, four through seven. And just those stories and hearing those people was like, there's I mean, it's hard to try to go back the other direction. You're hearing that every day. It's like, I'm ready. I'm ready. Come on, let's go. Yeah.

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Yeah. That's so cool. It's amazing that you guys did it, though, because just like you said, like you knew this information, but that didn't change your life. Knowing doesn't change anything. It's what you did about it. It's the behavior you talk about, Dave. It's the fact that you guys actually made a tangible change and made sacrifices. Did the budget, all the things let go of the credit cards. I love how you talked about that, Kolby, because we do we get emotionally attached to things like a credit card that's so silly and you break free from that and it changes everything.

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So well done. Well done. And actually making the change. Thank you.

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We're used to do we used to cut up credit cards on the stage. People come forward, we sign books, we cut their cards on their books and cut their cards. And the number of times someone, man or woman, has handed me a card and it's like, oh, no, this has been a friend of mine since college.

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We go way back killing an old college friend.

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You know, so many good memories together. How could you do you when you talked about that part in Financial Peace University? I remember going through the class. This would have been in 2010 for me. And I remember that so resonated with me because I felt that with my credit cards at the time and it was very difficult.

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My feeling is, well, I've had this since college. It's always been there.

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Yeah, it's a stinking piece of plastic. Oh, my God. It's not like they won't give you another one to change your mind. Oh, man, it's hilarious.

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But yeah, it's it shows you the power that that stuff has has over the typical person's life. And you broke that. You broke free of that.

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So well done. You guys. Very, very proud of you. Who were your biggest cheerleaders outside the two of you?

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My parents, my dad leads and he was leaving your nephew. So he was definitely a big part of that. And we've had some friends along the way as well and family, so. Oh, cool.

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Your co-workers been up in your face about it?

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Well, but they're you know, they're they all over and over, literally standing right over, taking credit for it. So they might as well. Yeah. You're here to cheer you on.

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So good stuff. And you brought the kiddos with you. What are their names and ages.

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So this is a story she just turned a year old with the boy with a big bow, and then she's super excited.

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All right, way to go. OK, that's also good stuff. All right. Storying cash, JBI and Kolby. Fifty one thousand dollars paid off in four years. Two of those years spent as a part of the Ramsey team. Here, count it down.

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Let's hear a debt free scream for anybody.

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OK, three to one word.

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Well done, you guys, well done, that's fun. That's amazing. Guys, it's so fun to see that, especially when it's your team members, when it's family, we're all in the trenches together. It's really fun to watch that happen.

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It is. And, you know, there is a thing that you got to realize there is it's almost as if when you surrender that credit card that you're surrendering a former belief that was a lie.

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That's good. It's like I am now saying that was a lie and I'm not living that way anymore. There's a statement about and I think that might be what makes that so hard. Yeah, that's so interesting to me. Very interesting, Kristie. Right. Ramsha personality as my co-host today here on The Dave Ramsey Show. First, Wright Ramsey, personality number one, best selling author, is my co-host today here on The Dave Ramsey Show, Open Phones, a triple eight eight two five five two two five.

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That's triple eight eight to five five two to five. Jason is with us.

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Jason's in Tampa, Florida. Hi, Jason. How can we help? He thinks I'm taking my call. Sure, what's up? I'm so I'm retired, I've been retired for about a year now, I'm 40 years old, I retired from the military, the Marine Corps, and then from there I went on to be a police officer for seven years. I was injured about two years ago and I'm done now. I can't be a cop anymore due to a couple of surgeries I've had, but I don't really need the money per say that I can think of.

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But my issue is I don't I don't know if I'm forgetting something that is going to set me back my life and I'm debating right now should I go back to work? And I don't know if I should stay retired or go back to work. So how old are you? I'm I'm forty. OK, well, what do you think? I've played it out in my head a million different ways, I have my children's college taken care of, I'm putting more money away than I'm spending.

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I don't think I need to, but I'm getting job offers. You don't need them. We don't need to financially. Correct. Yeah, and you're getting job offers that are what? I'm just getting job offers, like, for example, I live in a community where I'm running like a fantasy football league and I'm meeting people and they're like, you should you should come work for me for this or that. And so it's like tempting in my face all the time.

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And I don't know, I like. I don't need a lot of money and that I'm making enough off my pension now that I'm putting money away, so it's and I have a pretty nice nest egg in my home is paid for. I don't I don't think you need to work financially.

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I'm convinced of that. Listening to you. OK, what was the nature of your injuries?

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I had a trauma in my hip and it was so bad that they had to remove it from now carrying all the gear around as a cop and to running upstairs and stuff like that is just no longer possible. But I got into a big fight and pretty much just ended it after. After the arrest.

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Yeah, I understand. OK. Wow. Well, thank you for your service, by the way. Yeah.

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Thank you.

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So what we find around here is like I'll give you an example.

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20 years ago, maybe more probably more than 20 years ago, I was at a point where I didn't have to work anymore financially. And so for the last 20, 25 years or so, I've done what I wanted to do because I wanted to do it.

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And financially, the only reason I do it is to increase generosity and and, you know, but it's not like I needed money, but the human I think I'm just you know, I was your age when I was having this discussion with myself, oddly enough, because I'm turning 60 this year.

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So 20 years ago. And you're 40, right? Correct. And so, you know, just there's a dignity and a fulfillment to doing something that you care about.

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And you are a person of service, you served in the military, you served in the community as a policeman, you know, and, you know, security, you know how to handle firearms.

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There's a lot of ways you could serve at a very high level that doesn't involve kicking down.

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Doors are running upstairs.

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You know, I've got a good friend of mine that was he was in the SEALs and then he was. He was in a police force after that SWAT team. And today he's the director of security for a huge company that I won't name because everybody would know who he is and everything else.

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And the only reason he does that and then he does training. And that's the reason I run into him, because we're handgun enthusiasts. And so I've done training with him, tactical training with him and so forth.

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But but he just he's wired like you are as a service. I think you're going to be unhappy if you're not serving. What do you think, Chris?

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You know, it's interesting because even as he's talking, I'm just noticing, you know, one of the questions I think we ask ourselves through our entire life is what do I need to do next?

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Jason, you're at a spot where you don't need to do anything and you're so used to making decisions like we all are.

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What do I need to do for this goal or this financial goal or whatever that thing is?

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You don't need to do anything. So you have to ask yourself an even harder question, which is what do you want to do? And sometimes that's a very difficult question to answer.

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Sometimes all the options can be paralyzing, but it's also a moment of opportunity. Jason, where you don't have anything breathing down your neck, you don't have any thing. You have to hold your feet to the fire. You're probably going to find something you want to do. Like you said, you're doing it because you want to. But without that pressure on your shoulders, you've got options.

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And it doesn't mean you punch a clock 40 hours a week or you work 80 hours a week. You can do whatever you want to do.

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Yeah, I tell our team around here, if there's ever something I quit having fun doing, I'll do it for a little while longer while someone else picks it up.

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But I'm done. Yeah, I don't have any desire. I'm not going to do a bunch of crap that I don't want to do.

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Yeah, I don't need to arrogance. It's just I don't need to, I want to so but I do get, you know, trim.

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I continue to do the show because it's fun.

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You know, the idea of serving and helping somebody and say it again in my dream, my dream job.

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Well, OK, I spend time with my my friends and whenever we talk about finances, I end up talking or teaching them instead of actually having somebody I can bounce ideas off of because they all want to be on that. But they're still like 10, 15 years away. It's just one of those situations where I never have anybody giving me advice. And so I watch your show and I would research and that kind of stuff. I'm going go, go for it.

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So when I don't have a goal because I've hit them all for the most part, you hit you hit your financial goals and so you need different goals.

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And I'm worried about going back to work because mostly been in service type jobs, so now as I can't do that anymore, I mean, I knew I never have the expertise in sales and stuff, but you have the expertise.

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You have the expertise in military and law enforcement. And you can use your brain and your teaching skills in that area easily. You're going to go do something.

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You're not going to sit on your butt and go fishing for 40 more years. You're 40 years old. You're not going to fish for 40 years until you're 80. You're not going to go bowling for 40 years. God, shoot me.

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I don't I don't know whatever the thing is, right.

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Golf, whatever it is, you're not you're not going to do that. There's not there's happiness and dignity in serving. Yeah.

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And so find a way to do that and find a way to monetize it because it's a good way to keep score if what you're doing is effective or not.

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I like the competition in the marketplace and there's the dignity that comes with that, with the paycheck, with the income that you get from that. Jason, I would encourage you to not only that past experience and expertise you have from what you have done in law enforcement in the military. But even that thing you just said and you said it kind of like you're joking, like you have a dream job. No. What are you saying with that? Nervous laughter Is there something where you want to help people with their finances or do coaching or do consulting or help people get to where you are?

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There's so many options for you of what you can do now. But I would I would lean and I tell people all the time, especially through business, pretty lean into the things that make you light up. If there's something that lights you up right now, even if it's different from what you have been doing, lean into that. Don't shy away from it. You've got you've got an opportunity to do those. And it's that it's that tough question.

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What do you want? What do you want to do?

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It's a fun time to ask it. Yeah.

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But in terms of do I need to work? No, you don't need to work financially. Right. Emotionally and spiritually. You do need to work. Yeah. It's good for you. Yeah.

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And there's times that, you know I'm doing something because I'm just a few. I just don't want to lose. Yeah.

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I can't stand losing. Yeah. And so I work like a maniac just to win. Yeah. It has nothing to do with the money. Yeah. I just can't stand to lose. I can't stand to launch a book.

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Why don't you guys with your personalities in it not being number one drives me nuts and so I'm all over it. I'm down there with you all fighting and looking at the details and getting out of here looking little. One of our live events are going through all this covid crap. And it really wasn't about the company was going to be in financial trouble or something here. I mean, there's about ten minutes there. We worried about that when everybody was worried about everything.

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But the thing was, it's just now, OK, how how can I get through this and not lose? Yeah. How can we set a standard that's different. How the way we reacted to this from a leadership standpoint, how can we do that?

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And so there's just there's a there's something like that that lights you up and there's a lot of different ways that can manifest itself for you do so you're going to be doing something but choose it and then go in, because it's actually what you've done twice now in your career.

[00:39:18]

That's a good point, Kristie. Very good. That puts us our The Dave Ramsey Show in the books. Our thanks to James Childs, our producer, Kelly Daniel, our associate producer and phone screener. I am Dave Ramsey, your host. And we'll be back.

[00:39:45]

This is James Chiles, producer of The Dave Ramsey Show. On your smart speaker, you can add our skill by saying, Alexa, open the Ramsey network skill. From there, you can listen to all our shows. Ask Dave money questions like how do I invest my money or what is the debt snowball? Find out more it. Dave Ramsey Dotcom's.

[00:40:02]

Hey, if you've got questions about retirement investing or becoming an everyday millionaire, go bigger and broader with my man Chris Hogan on the Chris Hogan Show. I am excited to be able to talk to you all week in and week out. We're going to focus on your calls and it's going to focus on building wealth investing and how to become an everyday millionaire. Subscribe to the Chris Hogan Show wherever you listen to podcasts.

[00:40:25]

Hey, it's James, producer of The Dave Ramsey Show. This episode is over, but check the episode notes for links to products and services you've heard about during this episode. Thanks for listening.