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Live from the headquarters of Ramsey Solutions, broadcasting from the Mall, our car rental studios. It's the Dave Ramsey Show where dad is Don. Cash is king and the paid off home mortgage has taken the place of the BMW as the status symbol of choice. I'm Dave Ramsey, your host. Chris Hogan Ramsey personality is my co-host. Today here on the air, open phones, a triple eight eight two five five two two five. That's Triple eight eight two five five two two five.

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Spring in Bloomington, Indiana, starts off this hour. Hi, Spring.

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How are you? Oh, great. How are you? Better than I deserve. What's up? Wonderful. Well, I'm on baby step one. I've just had the second class of FPU and I'm looking ahead the debt snowball. And now I know you say to pay off all debt, but the mortgage. But I'm looking at the mortgage and it's right about the same amount as my student loans. And by the time I get to the student loans, the mortgage is going to be worse.

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And I'm thinking it's but I'm actually going to be able to get out of debt faster if I tackle the mortgage before the student loans and then be able to use that mortgage payment to slam on the student loan.

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Nope, nope. You're thinking.

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Got you where you are.

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I'm not. No, I. Yeah, I'm sorry.

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I was too easy. It was an underhand pitch.

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No, see, I do need to get increased my income and I'm working on. OK, stop, stop, stop, stop, stop.

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How much, how much do you have on your student loan. It is nice to here somebody just over thirty nine thousand, just under 40000.

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And how much other debt you have. Not counting your house.

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I've got one catching up on my estimated taxes for twenty twenty. That's my number one goal right now. The 2019 tax bill of of three thousand eight hundred eleven. I have a charge of MasterCard that I've been paying every month for four years, which is fourteen thousand five hundred sixty dollars. And then I have the student and the student loans.

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And you said the student loan was how much? Again, just under 40000.

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OK, so. All right. So eighteen I have 58000 dollars in debt, not counting your house. And what is your income?

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My net business income right now projected is where did that number come off to calculate it was calculated my projected net business income for the year end of June and that was thirty five thousand seven hundred eighty six dollars and fifty six cents.

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Mm hmm. Net pre-tax. OK, and so that's what you make a year. Yes. OK, and you said you're doing something to get your income up, right?

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I'm working out that I need to get a few pieces of equipment so I can start online tutoring, even immersed in language education, which I'm not using at the moment. And I know there's a lot of online tutoring available and lots of experience.

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That's great. Yeah. How much do you owe on the mortgage spring? It is just under 45000 and it's actually in my late father's name.

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OK, there's a lot of reasons in this situation to work the system exactly the way you've been taught in the good news is and I'm proud of you, you're paying attention, poking fun at you a minute ago, but you're paying attention now.

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You're paying attention.

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You're thinking. And before things were just happening to you and now you're happening to them.

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And that's a big sign in it, Chris. It really is. And you're thinking but here's the other side of that. You want to make sure that you're following a recipe that's going to help you cook something you want to write. These these baby steps, young lady, are going to lead you in that direction. So don't overthink it. Don't add anything to the recipe.

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This is when you want to follow to a T, so as you get your income up and you get on a budget, you're going to feel like you got a raise from just doing the budget.

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The stuff I've been doing that every dollar boy that's going to help. Yeah, good. I'm glad. And so that and then what's going to happen is you're going to reach over and pay that four thousand our tax bill, the thirty eight hundred dollar tax bill before that. And then you're going to reach over and get this. MasterCard's been hanging over your head for a long time.

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When you've just done those two things, you're going to feel like a new person, aren't you?

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Yes. Yes. This has been a problem anyway, because it's been a subject that has plagued you for a long time.

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Oh, gosh.

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Five years ago was dreadful. Yeah. And for the first time in your life, you're going to see a hope about this, a light at the end of the tunnel. That's not an oncoming train. And by the time you've knocked out those two things, that student loan is going to be in your crosshairs and you're never going to blink. And you need to go ahead and knock it out because it's consumer debt, number one. Number two, it's in your.

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Name the other dead is not in your name, right, and we need to clear it because it's not going to go away.

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The problem with the student loan is emotionally, it looks like such a large mountain that I don't think I can move it. But you know what?

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When you move a dump truck low today, you look up and the whole mountain's gone through and you're going to get there and then you're going to reach over.

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And the good news is you don't have much of a mortgage and you'll be able to reach over and knock out baby step six later without any effort at all, because you're going to be in such a you're going to be in such a zone by then again, having power over a subject that is controlled you. And instead you're going to be controlling it. You're going to see a different whole different side of yourself. You're going to end up making more money than you've ever made, and you're going to end up with a sense of confidence that you've never had.

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When you finish this, I promise you, I've worked with people just exactly like you.

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The language you're using, the way you're talking about this, the way I look down, I see a bad IRS.

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I see an old MasterCard. These tell me it's been going on a while. And so I'm reading into the clues about your life that you gave me.

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And I just see you're going to 18 months from now, you're going to be a completely different person, a whole different spot in spring.

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I'm going to tell you the another thing a person like you needs. You are motivated. I hear the energy in your voice, but you still need community. I'm going to encourage you to hop over into Ramsey plus so you can get connected. You're in there with other like minded people. You're going to be able to cheer other people on, but at the same time, get your own motivation to help you go faster. So hop over in there, be connected with people that are speaking the same language that I'm telling you.

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You won't regret it. You know, it's a good thing.

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I'm glad you're in financial peace university. And it's I'm glad it's helping you. I'm excited for you. And so Chris is right. You know, the recipe. This is how you make gumbo the same, make a chocolate cake.

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And if you want a good one, you just take the you know, the the the chef who's been in the kitchen. That's right. For decades knows how to do it. And you follow that recipe. And after you've been cooking it for years, if you want to change it up.

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Right, that's fine. Yeah. But right now you suck at this.

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So go use the recipe. Learn it.

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If I make biscuits, I suck at making biscuits. I got to get a recipe out. I got to follow instructions. Yes. Or I'm not going to get biscuits. I'm going get donuts. And you know, it's what happens. I'm not going get a chocolate cake. I'll get it. That gum, coconut cake or something.

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Now my wife has been cooking for years and is a world class cook.

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Yes. And so she says, I just threw this together and I just made this up and.

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Well, you can do that after you've been doing it a long time. That's right. But the first time you do it. Yeah, I love that analogy, Chris. To follow directions, follow the instructions. They won't steer you wrong.

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Since 1994, we've been teaching Financial Peace University now over six million, almost seven million people have been through the classes.

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They've been taught at 50000 churches across America, as well as a lot of other locations as well as we've done it the majority of the time, the vast majority of those classes were led staffed by a volunteer coordinator who likes to coordinate the class, meaning that they didn't teach the class. We taught the class on video. Me and Chris Hogan, who's my co-host today, Rachel Cruz, and now Anthony O'Neal being added to the videos as well. And so that's who taught Financial Peace University.

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But the coordinators were the ones that were there to answer questions and to encourage people and to cause the class to happen facilitated.

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And we have literally had over 20000 people coordinate classes over the years.

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At any given time, there's anywhere from five to 12000 doing it. And so we decided to just say these folks to just say out loud what we've always believed in, that these folks are heroes.

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When you coordinate a class for some group of people, you have a front row seat to them changing their lives.

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And you also, you know, you also are causing them to be in a position to deal with this person in their mirror to change their lives.

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And it's just it's an incredible it's absolutely incredible.

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So we want to take a little time this week and just say thank you and honor several of our coordinators, Karen Whitfield Whitehead, Karen Whitehead and Danielson, Connecticut is a financial peace university coordinator, is on the line.

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Hey, Karen, how are you? Oh, and if I were any better, I'd be twins. I hear you. I love it. It is an honor to talk to both of you and Chris today.

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Well, you, too. Thank you for taking your time to do it. How long you been coordinating financial peace university classes?

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I'm going to sing something I've been reading since 2015.

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OK, wow. So over five years then. Yes, and the way I got started as I was listening to the show when I was driving and I would hear all these debt free screams and they'd really get to me. And then you guys had a promo going on that if you like class, you could go through it for free, since free is my second language. I decided to sign up. I'm going to be a coordinator. Hey, OK.

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Yeah.

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And my first class had one couple in it and prior to class they were out in their car arguing and I thought, my God, what did I get myself into. So.

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And did they stick all the way through? They stuck all the way through. And to this day we are great friends. So and they're still knocking out slowly but surely.

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Sounds very, very cool. Very cool. Is that the number one story out of all the five years or have you got others?

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Oh, goodness, no. I have some great stories. You know, I have a couple who joined the class in 2017 or. I'm sorry, 5000 in debt and they e-mailed me now they're at forty five thousand five hundred ninety one and thirty two cents, and he said during that time they lost their job and they're currently cash flowing their new baby, which is due next week. So their target to be debt free by next September. But this past spring was a couple that really blew me away.

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They are out in Kansas and they are absolutely crushing it. They started in May with one hundred and sixty eight thousand five hundred and thirty five dollars. And as of last week, they're down to eighty one thousand one sixty. Wow. The street, they'll be debt free house and all by next summer. And I'm super excited for that.

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That's very cool. So you're in Connecticut? They're in Kansas. That means you're being a virtual coordinator, which all of our classes just about have gone to virtual during covid. And we're launching a bunch of new virtual classes here in the fall. So how's the virtual thing going?

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Oh, I absolutely love it, because, like you said, I'm in Connecticut and my last series of classes, I had people from Florida, New York, Ohio, Indiana, South Carolina, Kansas, North Dakota, Michigan, Nebraska, and even a young lady from Germany. And it was great. They're so engaged. It's great because there's so much flexibility. And I just I just love to see the excitement. I've been fortunate in getting some great people to call in as guest speakers, and it's really fantastic.

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I absolutely love it. I have four classes scheduled to start in December. OK, cool.

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Chris. Chris, were you a guest speaker? No, she didn't call me and I just don't have your phone number. I'll give it to you. You ready? Write this down.

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I know there are tons of benefits to being a coordinator, having worked with them and train them and train coaches for years. But let let let it let the people out there know. What are some of the benefits you feel from from being a coordinator?

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It's, you know, the gratification of seeing the changes happen literally around. You know, we you see the fear and the terror in their eyes and the anxiety. And by week three, it magically turns to hope and excitement. And it is just fantastic to see that. And if you're lucky, you get a good, well, intense couple that just like like the class on fire. So.

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Well, I can tell you this, it's not magic, but it turns to hope it's due to people like you reaching out and guiding them and giving them God's word on how this money stuff works. So I thank you so much, Karen, for all that you do to help people. Absolutely.

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Thank you, Karen. We really, really, really appreciate your your incredible. Very well done.

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So 16 million people are out of work right now.

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They're not sure how they're going to make ends meet. A lot of people that have been scared through scared, financially scared, sober, so to speak, are ready to say never again, maybe they didn't lose their job, but maybe this covid thing just woke him up and they say, you know what, I don't like being and I don't like being vulnerable. Because I'm in debt and I don't have any money. Mm hmm. I don't want to be vulnerable anymore.

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And so they're scared, sober, financially scared, sober and afraid to say never again. As a community, as a nation, we can give people hope when they need it the most. And if you're looking for a way to help people to get control there in these crazy times, you can lead a virtual financial peace university class. You can do it like Karen did from the comfort of her home and get the mix of people and the different experiences people are having from all over the nation, built into the class.

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That's such a cool virtual class. It really named every state out there. And that's pretty amazing.

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And if you want to do this, you can help people wake up about to the truth about what's going on with their money.

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It is really easy to get started. We've been doing this a long time.

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We've not been doing the virtual thing a long time. But we're getting to be experts on it very quickly and tell you that.

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And of course, we do the teaching on the videos and they're broadcast for you online so that you can coordinate with your class. It works perfectly. And we give you everything to be able to do this with confidence. And you get a one year membership like Karen was talking about to Ramsey plus for free. And like she said, that's her favorite word. So if you want to go through Ramsey Plus, which includes the every dollar upgrade, the sync with your bank, the sync with your spouse, it includes the baby.

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Step tracker includes all the communities as whole. A plus product called Ramsey Plus includes all the content, of course, Financial Peace University in there. You want to get all that free for one year, just be a virtual coordinator and all you got to do is help folks get hope. The way you do this, as you text the word unity to thirty three 789, that's one word unit to you in I T.Y. text it to thirty three, seven, eight, nine and get started on being a virtual coordinator.

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We have a lot of people wanting to go through the class right now and obviously a lot of churches are not holding classes right now.

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And so we're working with the ones that want to and otherwise we're setting up these virtual classes to make sure you guys get help because there's a whole bunch of you, you know, the saying when the teacher when the student is ready, the teacher will appear.

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Well, Chris and I have appeared here.

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We are ready and listen to me. You do not need to be all the way through the baby steps to help people sign up and help right now, right where you are. Text unity to three 789. You can go through Ramsey plus four a year free for being a virtual coordinator for Financial Peace University. This is the Dave Ramsey Show. If you struggled during a normal year to pay for that time share, how big of a burden is it now?

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Get out of it.

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Call time share exit team. When the time share turned you down, time share exit team will go to bat for you and get this. When you hire time share exit team before the end of the month, they'll give you a huge savings for paying by cheque or auto draft. Call eight four four nine nine nine exit or time-Share exit team dotcom. Some exclusions apply see site for details. Chris Hogan Ramsey personality is my co-host today here on the air, Jeremy and Kelly are with us in Minneapolis, Minnesota, to do their debt free scream.

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Hey, guys, how are you? Hey, Dave.

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Hey, Dave. Doing good.

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Awesome. Welcome. Welcome. So how much have you paid off?

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We paid up seventy seven thousand dollars. Cool. How long did this take you? It took us 15 months, Nate.

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And your range of income during that time, 140 to 160000, 140 to 160. Very cool. What do you guys do for a living?

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So I'm an area flight director. I kind of work for the fleet world and I am a home school mom to our three kids. And in that time I had a side hustle as a nanny for about a year.

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Oh, OK. Cool, very cool.

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What kind of debt was the 77000? Oh, we had everything. We had credit cards, we had a personal loan. We had student loans and two car loans. Awesome. You are normal, normal, very normal. What happened 15 months ago that lit your fuse?

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I was sick and tired of being sick and tired of being, you know, making that sort of money and being at a point where I still feel like living paycheck to paycheck and just not getting ahead. Right. I mean, I got a good job, make good money, but just I lacked the discipline. Clearly the spender in the family. And I had to we had to rein that in a little bit and got to get on a better budget.

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So was there a moment, a thing that happened that you can point to and say that's when we said this is enough? And we moved into our our new property and I got a nice hobby farm out here and a bunch of stuff I wanted to do and and just couldn't do it because not enough money going around because we just weren't disciplined and staying focused on the important things.

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So I kind of so I have a feeling Kelly was handling the checkbook at that moment.

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You know, David, telepathy is amazing. So, Kelly, Kelly, tell us what happened. Well, you know, I.

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I have always been on your plan, Dave. And every time I would get something pay down a little bit, it would just get wrecked right back up. And we just were not on the same page. And until that happened, we just weren't making any progress. And so when something in him finally clicked and said, OK, I'm ready to do this, I said, OK, let's do it. And so if you came around at our church and so we signed up right away and went through the class, we just stayed focused for that 15 months.

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And I mean, we were listening to podcasts every single day and we were reading all the books and just trying to stay, stay motivated, stay disciplined. And finally, we were we were able to to cross over into baby steps. Three and just two weeks after we did that, we coordinated our first class at our church. Wow. What church do you go to? We go to River Valley. Oh, okay. Great.

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Very cool. So, Jeremy, what what really happened to make you stick to it this time?

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Well, first off was what I called the realistic budget. We we up my personal body so I could feel like I wasn't constricted. I'm saying no. And, you know, and in honestly cut of more of, you know, Kelly and I, that year we sat down and really started doing just even for the first time, marriage goals as as a as a married couple for the first time. We've been married 15 years and we just haven't been aligned like that.

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And so sitting down there really going, this is what we're chasing. This is what we're going after, you know, and reading that, you know, Monk in the merchant book really kind of laid it on me that the Lord putting on my heart that to be that merchant. Right. You know, now, you know, I had to get this straight. So that's what a lot of it was to kind of kick me in gear. That's good.

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But that is very, very good. And I'm proud of you for being aware enough to hear it, but then to follow it. And Kelly, you sound like a serious cheerleader. Who in your family did you all were you handed this information?

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How did you hear about financial peace?

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Oh, gosh, we had heard about Dave years ago. And again, we just, you know, trying to pay off as much as we could and then it would go right back up. And it was just kind of a cycle for the last, you know, 10 years, probably. Right. Thank you.

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So what are you guys now tell people? The key to getting out of that is. Oh, I think, like Jeremy said, the realistic budget, there were so many times we've had a budget forever, but every month we were going over budget and having to, you know, move money.

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Well, both of you on the budget. Yes.

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Well, both cuts on there and say, you know, again, staying motivated. Right? I mean, it's you know, the things you focus on is what you're going to you know, you're going to achieve in free are. And so so, again, staying, you know, read your legacy book three times. I'll be going through that. And and obviously, like Kelly said, listen to your podcast and stay motivated. And those are all big things.

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But one part to Chris on your cheerleader part, I think the kids as well as us. Right? I mean, I can't really pinpoint another couple, but I mean, we were in it to win it and our kids were with us every step of the way. We walk through and let them know and educated them on every, you know, where we're at in the journey and why they were just they were phenomenal. Right. What at what age are they?

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We got it.

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Seven, a 10 and a 13 year old. And and it came down to start asking, well, what would Dave Ramsey do?

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Oh, approach was always like, wow, that's funny.

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I love it right along with us. You know, they sacrificed all the things that they wanted to do, too. We didn't want to eat a family. We didn't take vacations, all the fun things that they wanted to be able to do. It was well next year when we were debt free. And so conversations, you know, when they wanted to do something, conversations started. Mom, when we were debt free, we fell on the blink.

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And that that just had to come first. That's good.

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Fantastic, you guys. And it's only 15 months. That's right. So that's a lot. But it's not not in the scope of their life or your life.

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That's right. And yet they have this marked in their memories for the rest of their lives that time that our family got out of that. Very cool.

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I'm proud of you guys. Well done. Very well done. Thank you.

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We've got a copy of Chris's book. You probably already have it. It sounds like you read everything but every day Millionaires', because that's definitely the next chapter in your story, without a doubt. Very well done.

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That in the legacy journey. That's a good one two punch right there for the the baby steps four through seven and even seven and beyond.

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So very cool stuff. All right. Are the kiddos there to scream with you there?

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Hear, hear. All right, get everybody gather around. Jeremy and Kelly in Minneapolis, Minnesota, 77000 paid off in 15 months, making 140 to 160. Count it down. Let's hear a debt free scream.

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Right. Wow. Wow. Yeah. Well, that was the big tent city. I love it. All the kids, they meant that when the kiddos say when we're debt free, can we dot, dot, dot? That's when the family has changed their lives. That's right.

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You could it became not a us versus them, meaning parents versus kids, but us together versus it. And that is the goal and the destination that you're striving for and parents out there listening. That's how you do it. Include them, have age appropriate conversations, but let them know the why behind this thing. And young people will follow your lead. They will follow it.

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They are not distressed to find out that their parents have made a mistake. No, they are distressed when their parents don't have the gumption to fix it. That's right. That's right. That's what brings. That's what brings us to kiddos. Not again, like you said, age appropriately. We don't want to scare some three year old to death that they're going to be sent to the salt mines.

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But the but you know that kids that age, they can understand a lot of stuff and go, look, we made a mistake here and we're fixing it as a family. All right. We're going to get out of this so that we never go back and then you're never going to go in heaven and you're learning this lesson while you're still here at home. So you don't ever go out there and do stupid life.

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That's a life lesson. They got to learn it.

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Very cool stuff. Very well done. Love it. Love it. Love it. This is The Dave Ramsey Show. Our show The Day First, Peter, for 12 and 13, beloved, do not be surprised at the fiery trial when it comes upon you to test you as though something strange was happening to you. But rejoice insofar as you share Christ's sufferings, that you may also rejoice and be glad when his glory is revealed.

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Bruce Lee said, absorb what is useful, discard what is not, and what is uniquely your own open phones.

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This hour here on the Dave Ramsey Show at eight eight two five five two two five. Chris Hogan Ramsey personality is my co-host this hour. Richard is with us in Richmond, Virginia. Hi, Richard. Welcome to the show.

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Hi, Dave. Hi, Chris. Thank you for taking my call today.

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Sure. What's up? I'm on step six and I have to figure out how to do step six in my current situation is that I have three properties. One property was purchased as a college investment while my children were going to college, and that was basically generating enough income to pay for itself. The second one is my primary residence and then the third residence is a retirement home that I want to live it in approximately six years from now. What are the balance?

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Yeah, so balances are approximately one hundred and sixty five or one hundred fifty five thousand dollars on the one that's an investment property. The second one is about two hundred and twenty two hundred twenty thousand dollars on my primary residence and then the a retirement home, about another 240 pounds on those. All of them have at least 60 to 70 thousand dollars of unrealised equity from valuation. And my payments down on those. What's your household income? Approximately two hundred.

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Two hundred ten.

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And what are you doing with the retirement property just sitting empty? I go to it on the weekends, it's a lake. OK. OK. All right. So my question is, how old are you OK? I'm 53. I want to retire in six years. OK. And making 240, you need to pay off 650 grand, right? No. 575. OK, yeah, yeah, I missed it, I'm sorry I picked up on OK, all right.

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And so how can you do that in six years? I think so, and so the question is that in twenty four months, I could probably pay off to the college town townhouse and once I'm done with that, I can get probably fifteen hundred dollars a month in that property every single month into perpetuity. I can then take that and put that down on my primary residence. And within the next three to four years, I would then say I paid that one off again and then.

[00:32:53]

I can then take it so I can pay off all three homes in six years. My question is, is it smart for me to keep those rental properties and make approximately three thousand thirty five hundred a month and the valuation of about five hundred thousand dollars for the two big six hundred thousand in the next five years?

[00:33:13]

Yeah, college property is giving you a goodrow the other property is not going to give you a good Arawa. It sounds like I mean thirty six, thirty six thousand dollars a year on four hundred thousand dollars worth of assets. Yeah, I don't think it's great. No, it's not the home that you're your primary probably needs to go away and you buy some rentals, better ROIC when you move out of it.

[00:33:35]

OK, at the end of the at the end of the story, but the beginning of the story is how do we get these paid off? And I don't think there's a bad order here.

[00:33:44]

I generally say when they're pretty close, I like getting my primary paid off. But the problem is your primary is confused here.

[00:33:51]

You know, my primary is because I'm a work from home type person, too, I'm thinking that right now I could probably rent it for two thousand dollars a month and my mortgage payments about eleven hundred. So after taxes.

[00:34:05]

And that's that's not a that's not that's not a plan of places to get them all paid off. Like you said, the six year goal, just what's the most efficient way to get them all paid off is the thing. And there's not a super efficient way, but you're going to be in great shape.

[00:34:19]

So there's not a bad play here.

[00:34:21]

It's just a matter which one you want to knock off first. And I'm with you.

[00:34:26]

I might do the small one. OK, one other question then I'm also making I work for a company that does stock employee stock purchase. I make 15 percent on that automatically, everybody.

[00:34:41]

That's not that's not different. Everybody does.

[00:34:43]

It's. Yeah, but it's different. I mean, it's OK. Should I just be investing in that, taking it out. But the stock is also going up. So I'm doing a little bit better than most maybe. Should I be taking that money out then making the payment to the house after that?

[00:34:57]

I would take it out instantaneously and make the payment on the house after that. I wouldn't let it sit, because if you look at your company, I don't like the volatility of single stocks. If you look at your company, you probably don't see a 15 percent move up and down and sideways during a 12 month period of time. Look at a 12 month, 12 month low, 15 percent and enough to cover that.

[00:35:18]

Correct. So we're better growth pattern, but that's yeah, but that's overall and that doesn't follow covid and everything else. So I'm simply not playing that game while I'm trying to do this other you know, I mean, if you want to cash it in and make 15 on it the same day, that's fine. Go ahead and do that. But but but play in single stocks while we're playing. Get out of debt on the mortgages. Yeah. Not doing both simultaneously.

[00:35:42]

So it really wasn't it, Richard, I'll tell you this. The only other thing that will will help you get this done in six years is if you stick to the plan and you don't acquire anything else this time.

[00:35:53]

Yeah.

[00:35:53]

So you got real estate itis and so you're grabbing at stuff. And so I want you to be clear that, hey, you're in cleanup mode over the next six years. So you're going to have to say no to a lot of stuff if you're serious about this.

[00:36:06]

You know, the only income producing thing in the whole mess right now is that I would have dumped it and nothing else on this dump at all because there's no emergency. So, yeah, I think you got a good plan. I'm sticking with your plan.

[00:36:20]

So I'm confirming what your suspicions were. But, you know, if you decide to do it in a different order, we wouldn't call it dumb. Just be done in six years. That's the trick.

[00:36:32]

Jacobs in Jacksonville, Florida. Hi, Jacob.

[00:36:34]

Welcome to The Dave Ramsey Show. And Chris, thanks for taking my call. Sure, what's up? So I love investing and I found that I enjoy helping others understand their finances and realize their overall well-being, looking to become a financial adviser in the future. But after getting my bachelor's, I'm a junior right now in college and after getting my bachelor's, they think it's worth it to get a CFP degree.

[00:37:04]

But I think with Jacob, I would tell you, my friend, No one, I love that you're a junior and you're already thinking, Mohib, like you are. That's fantastic. Here's what I would tell you. Getting the CFP is a route that's a path, but it depends on what area niche you're wanting to do. I would suggest that you get connected with some people that are CFP right now in the area that you're in.

[00:37:31]

Have to take them to lunch, sit down and talk with them a little bit, get some more knowledge about what it is they do in their day to day operations. And I would do the same thing in the banking side or, you know, into some multiple areas that begin to give you this understanding of money. And that way you can kind of figure out what path you want to go down.

[00:37:50]

Yeah, that's a really good suggestion. You know, so Jacob, if he wanted to, for instance, be a financial adviser with one of our smartest approach, is the CFP a a prerequisite to doing that?

[00:38:02]

No. Lots of really good financial advisors without a CFP. I don't have one. Chris has a master's degree in finance.

[00:38:11]

I don't have that either.

[00:38:13]

And yet I've learned and I know what I'm doing and I'm knowledgeable in all those areas. The field of study are the coursework and the CFP is very strenuous and very good.

[00:38:25]

It is an excellent designation to get because the knowledge that you'll gain while you're getting it.

[00:38:31]

The downside is, is that while it's very strenuous, it's a bit legalistic in that the way they teach it is as if there is don't have enough critical thinking skills to think on your own to suit me.

[00:38:46]

So I know some crops that are certified financial Ferris's instead of certified financial planners and I know some CFP that are excellent at what they do.

[00:38:57]

So the CFP is like any other piece of education. You're going to gather the knowledge to assist you in doing your job.

[00:39:05]

Can you do the job without it? Yes. Will it assist you? Yes. Is it does it make you Superman? No. Do you have all the answers because you've got one? No. So that's that's a good summation of it. But it is a great field of study that puts us out of the Dave Ramsey Show in the books. We'll be back with you before you know it. In the meantime, remember, there's ultimately only one way to financial piece, and that's to walk daily with the prince of peace.

[00:39:31]

Christ Jesus. This is James Childs, producer of the Dave Ramsey Show. On your smart sneaker, 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 about Dave Ramsey. Dotcom slash marks.

[00:39:54]

Feel like you're in a rut and living life. Just going through the motions. Build confidence in yourself and learn to trust the God who created you. Check out the Christy Wright Show, where Christy inspires you to break through your limitations and create the life you're proud to live. Hey, all, I'm Christy, right? You know, it's so easy to feel stuck. You live life just going through the motions, doing dishes, doing laundry, carpool lines and a whole list of commitments that bring you no joy.

[00:40:21]

Why do we live like that? That's why I want you to check out the Christy Right show. Each episode will help you build confidence in yourself and the God that created. You hear more from the Ramsey network, including the Christy Wright Show wherever you listen to podcasts.

[00:40:38]

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.