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Live from the headquarters of Ramsey Solutions, broadcasting from the car rental studios, it's the Dave Ramsey Show that is dumb. Cash is king in the paid off home mortgage has taken the place of the BMW as the status symbol of choice. Open phones, a triple eight to five five two two five. Kristy Right. Ramsey personality is my co-host today here on the Dave Ramsey Show.

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We're taking your questions about your life and your money.

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Triple eight eight two five five two two five.

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Chase starts us out in Kansas City this hour. Hi, Chase. How are you?

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I'm good. How are you? Better than I deserve. How can Christiani help?

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OK, quick back story. So when I was 14 years old, I started this lawn and landscape company. I'm now 28 and I've grown it to be pretty successful. And me and my fiancee are looking at moving away here in the next couple of years. So I'm going to be selling it. So my question is. What kind of like legal advice do I need to, like, sell a business? I mean, I'm giving myself a couple of years notice to start taking the steps going forward to get this ball rolling, basically.

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Legal advice. OK, do you have it as an LLC? Like what? Yes, it's an LLC. I guess I should I talk to an attorney like. I don't really know how to sell this type of business because it's not like a brick and mortar building. So, well, I mean, you would sell you the LLC owns the equipment and owns the customer and owns the cash flow. Correct.

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So you would just simply sell the LLC, you would sell the the shares in the LLC for the amount that is agreed to. I gotcha, I gotcha. Do you have any business debt? There is no business that whatsoever, I have roughly probably eighty thousand in assets like equipment, the business last year, gross or not, Gross netted about eighty three and then this year it's going to net probably like one 10.

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Is that after it paid you or before it paid you? That is after paid me, what did it pay you? I pay myself a salary of roughly 5000 a month, OK? And after that and how many guys you have working for you? Two to three. OK, that's cool. I have two full time and like one part time guy. OK, well, it's a substantial business.

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As you said, you've done a great job. It's worth somewhere around four times that net, maybe five times that net, something like that. And so, you know, it's worth 350, 400000 bucks roughly. OK, is at 80000 dollar profit, you know, four times that, and that gives the buyer a a 20 or 25 percent return, five X would be a 20 percent return for X will be a 25 percent return on their money.

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So were I an investor? I could buy this, hire a 60000 dollar a year manager to run it.

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And, you know, give you 300000 bucks and I'd make 20, 25 percent of my money. It. And then so one of my guys, one of my main employees, he's been this is his third year. He is I've briefly told him, like, what the plan is. And he's shown interest in wanting to buy it. But I know I mean, he's young. He's a younger kid. He's like twenty two. Twenty three. So I know he doesn't have the cash to buy it.

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Would you advise doing like an owner finance deal or what if that's what he came about or try to just find a buyer that can just buy it outright?

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Well, what you would do if you did this, it'd be nice to have a buyer buy it outright. I'd take less if I could get my cash and go.

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Yeah, because otherwise you have the risk of not getting your money if this young man runs it into the dirt, no pun intended.

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Yeah, I know for sure.

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So why Chris Christie and I always advise people when they're doing this is if you're buying the business, you can do a an owner finance deal, but it's just a percentage of profits. And so what I would do is say let the young man make 60000 hours a year and you get all the profits until it gets to 400 K. Gotcha. Until they show, you know, four or five years worth of the profits are going to come to you.

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The problem is if he mishandles it during that period of time and you have to repossess the business, it's not going to be worth as much because he will have messed up your cash flow.

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Yeah, and that's that's the one thing that I've thought of, and that's why I'm like, so if he came to me like and say like, here's 200, I can do two hundred and fifty and then say, you got like a loan for it or something. And I mean, I would take it. Yeah, OK, here's the other thing to consider, Chase, is this young man that's considering buying it. He may be great at lawncare, he may be terrible at running a business.

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So you could do your due diligence on the front end just to get a gauge mentor him, not just his interest, but, yeah, his business knowledge of how to manage cash flow, how to take care of customers more than just the day to day lawn care. There's a lot more that you do. And you know what that is that he may not be aware of. So vet him or mentor him or whatever that looks like just because he's right there doesn't mean he's the right person, even if he can figure out the financing.

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You know, I kind of doubt he's going to land a bank for 250 K at 23 years old, 24 years old, which you'll be at that point that be shocking unless there's something in the equation I'm not hearing.

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What wouldn't be shocking is if his grandpa decided they want to shut him up in business.

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Yeah. Well, at all that all sounds good to me and I appreciate the advice that's yeah, I think that's everything I need to know there.

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Yeah, it's good stuff. And, you know, just just the thing is, the other thing I like to do when I if I'm going to carry the paper on something, which I almost never do, is I want to get such a large down payment that after I have to repossess it, I'm happy I got it back. Because I get to do it again, in other words, if you had a 300000 dollar price tag and you got 200000 dollars down and you had to take it back two years later, oh, well, we'll do this again.

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Right.

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You know, and so that's what a guy I used to buy notes with. He called it happy. Happy. You're happy if they pay, you're happy if they don't because you get enough down payment and you get a good enough price and a good enough terms that you're happy if they pay and if they don't pay, you're OK. They're so deep into you that you're going to make money on the transaction, on the repossession. And that's harsh.

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But that's the reality.

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And it keeps you it keeps everybody in their lane and keeps everybody moving the right way when they've got no almost no down payment in it. That's and you're going to be in another town and he runs your equipment, your customers into the dirt, no pun intended. Then you're going to be in a mess. Yeah.

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You don't have any skin in the game you built to chase like he's the one that built it over the last 14 years, even if he didn't want to.

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Even if he didn't do it with malice. Right. And you get screwed over a lot more by enthusiastic ignoramuses than you do people with malice.

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So, you know, I can just see some not maintaining the equipment, you know, that kind of stuff.

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And you getting a real getting a real hurt. Our entry leadership summit has a wait list for 2021, if you'd like to come, you can get on the wait list. In other words, we've sold it out. Marcus Buckingham will be there. Pat Lencioni, Craig Groeschel, Simon Sinek, Jim Collins, Christy Wright, Chris Hogan, Dr. John Bellone and Ken Coleman and me will be the speakers.

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This is a world class experience. Our Ontari Leadership Summit. We just finished it last week here in Nashville, and it's coming up next year in May and June are in May, rather, of 2021. And it is waitlisted, already sold out. And we're setting everything up. If you'd like to be on the wait list and let us keep you abreast of what's going on with the dates and locations and all that kind of stuff. There's a lot in the lot.

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Our question, Kristie.

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Yes. This come from Melissa in Kentucky. Here's what she said. I began selling watercolor portraits about two weeks ago, and I've gotten a ton of positive feedback and interest.

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I should be so proud. But the last three paintings I've done, each one took more and more tries because I wasn't confident in the drawings. I painted and repainted one of them four times before I settled on one to send to the customer. I felt a strong sense of guilt selling anything that I see as less. Then how do you deal with perfectionist tendencies? Help, please. You know, this is interesting because I think when you're dealing with any type of art, it never arrives.

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I've even seen, you know, in our building, the graphic designers is like, well, I can make it a little bit more perfect when you're dealing with something that is art, that is subjective. It's so tempting to make it a little bit better and it never gets there. So I would just say, Melissa, one of the things that will help you is to simply practice sending the first one you paint. So send it once that customer's going to be happy, you're going to do a good job the first time.

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Send it to them. They're happy. That's going to give you confidence. Hey, I did it once. I can do it again. But a lot of this, I think, is just overcoming that, limiting belief in your head that it could be a little bit more perfect when the customer is probably going to be happy with round one or two or three. And it's going to save you a lot of time if you get in the habit of sending the first round.

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That's a good that's a good suggestion, because the tension, any time we're producing a product, any of us is you want to put out a good enough product that you're proud of it, A and B, that it creates more business.

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Right. Because someone sees that and goes, I want one.

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You know, you want the book to be well enough written that it helps somebody change their life and they go, you've got to get this book right in the tension between that and paralysis of the analysis or perfectionism.

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Right. Because you never do anything.

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You just say ready, aim, aim, aim, aim, aim. And you never pull the trigger. Yeah, you never put it out there. I was telling the NRA Leadership Summit last week we've I've sold twenty plus million books and I've never sold a book that didn't have a typo. I didn't intentionally put typos in them, right, and none of them were so full of typos and grammatical errors that they were distracting except the first one. And after that, we could afford an actual editor.

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But the I've never sold a book that went out of here that was completely error free.

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Yeah, we would still be sitting here writing on that. Right. And people would not have been helped. You know, I run into the same thing as a writer. You're a writer as well. So I'm working on a project and I edited another draft of it today and I found new things I wanted to change about it, new things that could make it in. The more times you send it to me, I'm still going to find more things that can make it better.

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But at some point you've got to say this is good, this is going to help people. Let's ship it.

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When I finally started, when I got with, like a real publisher the first time and I had a real editor the first time I wrote with that in that situation, I was having that same experience.

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I was every time I'd read through it, I'd start again. Yeah, you'd find new stuff and I'll go. I could do that and I could do that and I could do that and I could do that. And I was getting really frustrated and she was brilliant. She said, you know, we have a saying in publishing, the book is never done. You just finally stop and print it.

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Yeah, that's good. You stop and print it, you never finish it and finally just have to stop and print it. And so there's somewhere between that and putting that crap right.

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And you don't put out crap because you're it's embarrassing and you won't get new business off of it and people feel ripped off. Right. So if that's your first one, you don't want to ship the first. Right.

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But short of that, I completely agree with your with your thing here because and most artists wouldn't be on that site.

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Right? Most artists would be on the perfectionist when she's getting interested.

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She's getting all kinds of positive feedback and interest, if I would. But she hasn't shown up yet, I'd be willing. But I wonder if the first one is I wonder if that's a big difference between your reading between the lines correctly.

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I agree with you. I mean, I think her first one is really dadgum good. Yeah, I agree. I think you're seeing the way this is worded and, you know, you're looking into this situation. You've done a bunch of coaching over the years. So you can see it. And I agree with you.

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So as long as you're over there in the top 20, 30 percent of quality and you're not down in the bottom 10 percent of quality, you know, that's what we're saying. Yeah, then ship it. Yeah. Seth Godin says that all the time. Ship it, do it. Put it out there. Don't wait around.

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If you wait on perfection, nothing ever happens. Open phones at eight eight two five five two two five. Christie right is my co-host today. Ramsay personality. Rachel is with us in Des Moines. Well, sort of. OK, Rachel is with us in Des Moines.

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Hi, Rachel.

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Welcome to The Dave Ramsey Show. Hi, thanks for having me. Sure, what's up? A question for Christie about a little bit of a life question. So how would you recommend dealing with parents and in-laws who have maybe a little too much opinion on issues about kids and, you know, from everything to vaccines to know when to send to school? Where? How do you deal with that?

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OK, well, let's just let's unpack this. Let's get a little bit more information. Rachel, what what's the how long have you been married? Is it your parents or the in-laws or both? Are you feel like you're you're tiptoeing around this here? What's really going on?

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So the married for five years have two kids kind of like yourself. I've got a three year old and a one year old, and it comes from both sides a little bit my parents, but also the in-laws as well. And it just seems like every time we try to make a decision or do something, there's a lot of feedback of, you know, their opinions coming in. And I don't want to necessarily overlook that advice. But if it's something we've decided is best for our family, how do you get that to come across correctly to them?

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Yeah, so I hear in your voice right now, I'm just going to go out on a limb here. You sound very sweet. And the fact that you're even asking this question, you don't want to disrespect anyone. You want to be kind and consider them. And they are absolutely entitled to an opinion. But it's your kids.

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And so I think the most important thing to focus on, spent time on, et cetera, is being on the same page with your spouse. Matt and I spend a lot of time getting on the same page about our kids, our parenting, our money, our plans, whatever that is. And then we are a united front. And our confidence comes from knowing that he and I are a team. We're on the same plate page. It's really kind of us against the world.

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And it's not to make it sound combative, but then when you get passive aggressive comments from anybody, whether it's your parents or your in-laws, you've got this sense of strength of, hey, you know, I hear you, but this is what we're going to do. And one of the things one tip I would give you, Rachel, and this this might ruffle some feathers of people out there, but do not come from a position of being sorry.

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Don't say, oh, well, I just I'm so sorry. I mean, I know you ring your hands. You have nothing to be sorry for. You are their mother. These are your children with the best information you have available unless you're in some way putting them at risk or in Hama, you're we're talking about a matter of opinions here. Then you don't come from the position of being sorry, because when you act sorry for something, you don't have to be sorry for your teaching people that you do.

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You're teaching people you have something to be sorry for and they will respond accordingly. So instead, you put your shoulders back, you hold your head. Well, this is what we've decided to do. We've decided to send our thanks so much. But this is what we're doing. This is what we've decided is right for our children.

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Yeah, it's not if you are asking for advice, that is one conversation. Yeah. Otherwise you're making an announcement.

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Yes. That's a good I take that I like.

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So like one of my daughters won't tell her mother what the name they have chosen for the baby is because she doesn't want the judgment. I know when the baby comes out, she just says, welcome, this is so-and-so and she gives us the name. We don't know the name ahead of time because Mimi will roll her eyes and they can't that one can't stand it. And so. And that's cool.

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This is how much it's a boundary. This is problem. And it's very difficult for the parents like me, like Papa Dave. You can bet I got an opinion, but it's not I don't get a vote.

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What's right anymore. I raised you. So hopefully that's going to help you with this process. But I don't get to vote anymore, and it's frustrating. I'd like to have my vote back. I know, but I don't get it. It's called boundaries. This is the Dave Ramsey Show. In the lobby of Ramsey Solutions, David and Crystal are with us, Christy writes my co-host this hour here on The Dave Ramsey Show. They are on the debt free stage.

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Welcome, guys.

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Good to have you all. Thank you. Good to be here. Good to have you. Where do you live? In Chattanooga, Tennessee.

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Oh, just over the hill. Good. Good to have you, man. Well, and all the way to Nashville to do a debt free scream.

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Yes. Yes. How much have you paid off?

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Eighty five thousand four hundred ninety four dollars and ten cents.

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You going to be exact. And how long did this take? Two years and 10 months.

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Wow. Good for you. And your range of income during that time, 85000 to 95000 with a whole lot of side households involved.

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There you go. OK, so what kind of debt was the 85 that you paid off? I was a credit card, car loan and a student loan that we named Big Bertha that'll get to mad at it.

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Whose student loan was Big Bertha? I was like, all right, Crystal, what's your degree in? I'm a teacher.

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How cool is that what you do now? Yes, I TSL. Awesome. And what do you do, David?

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I'm a tax auditor. Very cool. Good, good. And so life is going along and you have the normal amount of student loans up to your eyeballs and the normal other stuff.

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What happened two years and ten months ago, what was the wake up call? What little you on fire?

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Well, about three years ago, we we would sit down and we would do a monthly budget hawks. I get paid once a month as a teacher and we just never seem to have enough money to get out of debt to pay off the credit card bill just to move forward. And we wanted to it would always wind up with me crying because I was so upset because we just couldn't hit the goals that we wanted to. We never really thought. But we were just always, you know, we just weren't getting anywhere.

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In January of 2017, our church was offering financial peace. And so we pulled out our credit card and paid for it because that was the only way we had the money at the time.

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And major church takes credit cards, not Dave Ramsey. Let's be clear. That is correct. Yes. And then we started February of 2017. It was just before the ten year anniversary. We had a trip to Disney World planned just for the two of us to celebrate. We went to the class the first night and we decided we needed to cancel that trip. Wow. And so we took a couple of hundred dollars and we ended up going to the Biltmore for a weekend to celebrate our anniversary.

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And it was just game on from then.

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Oh, right. Very cool. So the class did it. Yeah, I was there the first night. I mean you got fired up.

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Yeah it was, it was the plan that we needed, that we wanted, we wanted to have control over money. We wanted to do better than we were doing and we wanted to get rid of all of it. We just didn't know how to. And we just kept spinning our wheels. And once we finally had the plan that worked for us, it just all made sense and it was so doable.

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So something about the first night not only showed you the plan, but made you believe it would work. Yeah, because that's important.

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That's important information. You know, anytime anyone wants to change anything, you have to see a way to do it and you have to believe that you can do that.

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It's probably also, I would imagine Crystal is validating for the discouragement you'd be feeling, because I remember when I was paying off my debt, I did the math of how long it would take me to pay off my credit card if I did the minimum payment and I would have died before it was paid off doing the minimum payment. I mean, it wasn't ever going to happen. And so you're so discouraged, but you're sitting there going, oh, well, this is this explains our situation.

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We have to do something different. What we've been doing isn't working. Yeah.

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When I started, my loan was financed almost thirty years, so both of my kids would have been through college before we ever could have touched mine. Yeah. So not giving us any money to put aside for them to get them through. Yeah.

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Helps you see it.

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So David, what did you see in the class the first night. The same thing.

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Pretty much so. My parents are financial advisors, so I grew up with the knowledge, but I'm, I'm the spreadsheet guy. I had it all down on the spreadsheet. She needed a notebook. I did like notebook. And so in pretty much that's why our budget, you know, meetings were beforehand was I have it on spreadsheet and I have it on accounting software. She wants a handwritten down and it just kind of clashed. And then that first night it was off to the races and I was holding on by the coattails.

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Let me catch up. So she went from crying to running wide open. Yes.

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When you talk about the kids being fearful that they're next to be sold like people in my church for like you're selling everything in your house, like, how are you doing this? And you know what's left. But we actually we had some amazing friends who were in the process of moving and they were going to donate just some stuff they were getting rid of to like the goodwill. And she was like, would you like it for, like, one of your yard sales?

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Because she knew we were on board. And I was like, yes, absolutely. And so she gave me a bunch of stuff and we had a huge yard sale. And later that fall, there was a consignment sale for kids clothes. And so I put in all of my kids clothes and I was like, hey, does anyone have some clothes they want to sell? I'll split the profit with you. And so we we sold. I am Antheil, I babysat, we walk dogs, we cats at Devah got an extra job, notice that you walk dogs and you sit on a weekday beginning next year.

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We actually talk a quick but Clarkes class and one of the community colleges in the area and skills for something, right?

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Yes, sir. All right. We did everything we could and just I mean, we hustled all the time.

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Wow. So how's it feel now that you did it? Amazing. You sacrificed. Yeah.

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Was it worth it? Absolutely. So will you ever go back? No. No, sir. No hesitation in that answer.

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We have a picture of our car on a tow truck just before we were done. We were set to be done in October. I mean, we ended up finishing in December and our car got towed three times because we were having issues with the biggest one was from Gatlinburg all the way back to Chattanooga. We were at a soccer tournament in the car, just quit. But it was in that moment that we realized how important the emergency fund was. And we actually didn't have to use it because we had enough just in our monthly budget that we could cover the cost of that.

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But we were sitting in the hotel room after I'd gotten off the phone with the tow truck and I cried a little bit because just the frustration of being so far away, but there was no concern about how are we going to pay for it or like what the bill was going to be because we knew we had that emergency fund. And so it really became an inconvenience, like you say, instead of like a true emergency. And, you know, we got the car back and we got it fixed and, you know, it's perfect now.

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So but that emergency fund is just so key.

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Oh, change the crisis and an inconvenience.

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And it's just peaceful because like I said, we never even had to use it. But just knowing knowing that there's something out a month on your get out of debt, not that picture, but it was a little bitter about that. Yeah. I don't blame you.

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Good stuff. All right. What do you tell people? The key to getting out of debt is you did it work really hard?

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I'll be willing to do anything it and and be intentional about every single thing that you do.

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I think one of the other picture shows there's like a gift card and a twenty dollar bill and a box of candy, like we would do things like that for date night. It's like, you know, what can we do? How can we enjoy the evening with just a small amount? Because we, you know, wanted that time together where it wasn't just talking about our budget and stuff. And so those are always fun days because we would just see what we could get into with the least amount of money.

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Y'all are such a team. You just see it. You hear it in your voice. That's awesome. That's really, really cool.

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Well, Daniel, working together is a big part of this. I really, really did. I'm so proud of you.

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Very well done. All right. What was the very best, most profitable for the effort side? Hustle her cakes and cookies.

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She made big money on cakes and cookies. That's amazing.

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Well, has he got me a cake decorating class and it ended up turning into one of my side hustles where I could, you know, start baking cakes and cookies and still sell them. That's amazing.

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It's very cool. That's close to Christie's heart. That's right. That's right. Small bakery. Yeah, very cool. You guys. Very well done.

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And you brought the kiddos with you. What are their names and ages?

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All right. So this is Hannah Grace. She's four and this is Isaac. He's eleven.

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All right. Very good. Very good. We've got a copy of Chris Hogan's book for you. Every millionaires. That for sure is the next chapter in your story.

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You're on your way, heroes. Well done. Thank you. Took control of your life. Yes. Yeah. That's like grown up stuff. Well done. Very well done. All right. David and Crystal, Isaac and Hanna. Eighty five thousand paid off in two years and ten months, making 85 to 95 counted down. Let's hear a debt free scream.

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Be the glory. Three to one word from.

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Whoop, whoop, whoop de congratulation. But it's so fun, her hustle. Yeah, those kids just like you watching your mom growing up. Yes.

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And see what I mean. They were ready to get after it. Side hustle after side hustle. They're like, we're going we're going to we're going to do this. And it's a big deal. Great place to go when you're broke. Yeah. To work. This is the Dave Ramsey Show. Well, folks, when people get to baby step forward, they start investing sometimes or freaking out because you need to say 15 percent of your income for retirement at that step and you have no idea how to start investing.

[00:29:40]

The very word investing sometimes elicits anxiety because I'm scared. I don't know what to do. I don't know how to do. It's like driving a car for the first time. And sometimes you sit down with some of these investment people and they sound like Charlie Brown's teacher.

[00:29:53]

Wah, wah, wah, wah wah wah wah wah wah.

[00:29:55]

Instead, we want to hook you up with one of the smart VESTER pros.

[00:29:58]

They actually speak to you in English with the heart of a teacher, not in financial speak, trying to show how important they are. Go to Dave Ramsey, dot com click Smart Vestor put in your info.

[00:30:12]

It'll dropdown a list of the smart vittor pros in your area and you select which one you want. You sit down with them, you can interview two or three of them if you want, and pick out one that has that heart of a teacher that you connect with and they'll show you what to do. Dave Ramsey, Dotcom Slash Smart Vestor Kelly is in Pittsburgh. Hi, Kelly. How are you? I'm doing well.

[00:30:37]

Thank you so much for taking my call. Sure. What's up? OK, so first I have to tell you, it's just a privilege to talk to you, sir. My husband and I several years ago to talk for you at our church and it completely changed our life. We paid off about one hundred and fifty thousand dollars in debt, which was mostly my big giant school. And now we've been through babysat for maybe five and we're getting ready to start sick and covid sort of hit.

[00:31:09]

My job is is secure, I think, as a job really can be in today's time. And my husband works in sales, so he's pretty much taken a big giant hit. But we can live off of my income alone. But sort of where we are now, we have everything ready. We did one little bit of stupid and we still have that hanging out, which is a Phoenix lease. It is up in August. And I've done we've done a lot of research on what type of vehicle, and we have the money saved, but we're sort of just really struggling with spending that much on a vehicle.

[00:31:44]

I know we're leasing and it's completely stupid, but sort of where we are, we have our emergency fund. Our six month emergency fund is about thirty thousand dollars and we have sixty in the bank. And I have we've picked out a 2014 vehicle. And from the research I did essentially for what what type of vehicle we need to get our three kids in car seats in the back. It's a Lexus. I'm sorry, jackass. As far as maintaining it's as much value as it can because it's a vehicle and just safety and the costs for maintenance and things like that.

[00:32:21]

So that would run is about twenty five thousand. I just feel super guilty about paying that much. And I'm thinking, should we only buy, like kind of a clunker for five instead or should we in your household, in the tank, not counting covid, what's your household income? Our household income, we're blessed, is anywhere from 175 to 200. What's the other car worth?

[00:32:51]

My the one that's least now the one the other car.

[00:32:54]

You have two cars, don't you? Oh, yes, I don't even know what it is, roughly 10000 or 100000. No, no, 10000 maybe. OK. All right.

[00:33:09]

So you have 35000 cars. If you bought a 25. This one's worth 10, right? Yes, you have the cash to pay for it. You make 175 thousand dollars a year. Yeah, now are my husband again. OK, I that I. OK, I understand we're wasting way more money than that on a lease, but we've never bought, like, a big adult purchase that cost that much before.

[00:33:37]

Oh, you have. You just paid for the lease.

[00:33:40]

That's true. That's true. Well, in fact, yes. What we've paid for a lease essentially over all these years, if we would have added that in the total lump sum, we could buy this vehicle.

[00:33:50]

Yeah, yeah, yeah, yeah.

[00:33:54]

So, yeah. OK, so here's the thing. Here's what happens. You went from being an insurance and I experienced the same thing. You went from being irresponsible. You worked your way out of the mess by becoming uber responsible. Hyper responsible. Careful and tight, you worked your way out of the mess and you're and now you're have developed a really strong financial position, but your emotions are still back there when you were being gazettal intense. Yes, that's probably right after we took a few probably after the debt snowball clash.

[00:34:32]

Yeah, I mean, we went from real normal to real weird real quick.

[00:34:37]

And this really feels weirder by the day that you're this is this purchaser's beyond your emotions you've experienced.

[00:34:43]

Like, you know, it's funny because I was just talking about this on the Christian right. So just this week with the episode that aired this week, we're talking about money. And I said something happened to me in my 20s where it used to be the mindset was if I have the money, I should buy it. There was no reason not to buy something if the money was physically in my account. And then I started to realize, oh, if I live that way, I'm never going to have any money.

[00:35:02]

And so when I started to pay off my debt and become debt free and change my mindset, I started to value having money in my account more than the stuff. Well, once you make that switch, even if you want the thing, it's still hard to write that check. She may want the car, but man, it feels good to have that 24000 in my account. That's hard to let go of when you switch to valuing actually stockpiling some cash and having some cash.

[00:35:23]

So that's probably a little bit of what's going on.

[00:35:25]

Exactly what is the cash is giving you more emotional psychological satisfaction than the car, although you have dialed this car completely in.

[00:35:34]

I mean, the way you described it, you have completely bought this car.

[00:35:38]

Yeah. I mean, you're you're way down you're down the Lexus rabbit hole. No question. You sound like a Lexus salesman.

[00:35:49]

No, I don't have to be.

[00:35:51]

I know I'm not making fun of you.

[00:35:53]

I'm just making fun of you.

[00:35:57]

I worried, like, by which I my husband and I have I called yesterday never not to talk to you. And I said, I don't really know why I need to call. I know exactly where we've been doing this long enough for years.

[00:36:10]

I know he's going to say, did you think that I would ask what you thought I was going to say? Yes. Yes.

[00:36:16]

And I said, I'm worried that there's not a warranty. And I said, he's going to say they've got all your warranty is in the bank in cash. You don't think it's right there. By the way, if you get if you buy a certified Lexus on the on their lot, it'll have a warranty with it.

[00:36:30]

But that's included in the price. Don't buy an extended warranty. You know that as well.

[00:36:34]

You know all the answers to these questions. And by the way, Sharon, how old are kids around that same car for a few years? It's a good car. Actually, actually, two of those over my life, about two of those, that exact car, they're very, very good. They're great cars and they're powerful. They got a big V8 in them, which they'll go to. So keep your foot out of it.

[00:36:55]

But, yeah, it's it's still hard to let go of that money. When we were pregnant with Mary Grace last summer, I had to upgrade, maybe add a little Lexus X 350, a little, you know, one row in the back seat. I want to have two rows for the four all the 15 car seats it felt like. And and we went to to find one. We ended up getting the Honda pilot with the three rows and they said the same thing.

[00:37:15]

They're like, you know, this warranty that morning I was like, I work for Dave Ramsey is like, I'm not going to waste my breath.

[00:37:20]

Right. Good. Okay. Talk about I'm not in the mood. I don't want to hear it, but it's still hard to write that check, even if you have it once you value the money.

[00:37:27]

But yeah, you need that and you'll be glad you have it. Kelly.

[00:37:29]

Yeah, we've even experienced that in business that as the numbers here have come up and this company will bring in 250 million dollars this year. And I can't wrap my emotional head around that still intellectually I can grasp it. Yeah, but we spend more on copier paper here than I spent on the entire first year. Right. You know, with with a thousand employees. And so I just can't get my head around what we spend on coffee. Yeah.

[00:37:54]

You know, I can't get my head around the stuff and not emotionally.

[00:37:58]

Not intellectually. I can go. Oh well that you know, that makes sense with that many people that you got this and that, but your emotions don't catch up. And that's what happens as you go through these different stages of wealth building.

[00:38:08]

You go from, you know, deep in debt and oblivious to where then you understand what's going on and you get that intensity and then you move up and you know your emotions.

[00:38:19]

It just takes a while to catch up. Yeah. Yeah, that's good.

[00:38:22]

You get to run and you get to run so hard and you're so dialed in with it. Yeah. Very good.

[00:38:28]

She needs it and she'll, she'll be glad she has it. She did a great job. Yeah. That's really good. I mean they paid off a ton of debt. Yeah. We're making big money.

[00:38:36]

She's done her research on the car. She knows what she wants. She needs ready to go.

[00:38:40]

That puts us our The Dave Ramsey Show in the books. Our thanks to James Childs, our producer. You know, Daniel, our associate producer and phone screener. I am Dave Ramsey, your host.

[00:38:49]

And we'll be back. This is James Childs, producer of The Dave Ramsey Show. Once again, you made The Dave Ramsey Show, one of the top four most popular podcast last year to get your daily dose of motivation and inspiration from the Ramsey network. Subscribe or follow today wherever you listen to a podcast. Hey, if you've got questions about retirement investing and becoming an everyday millionaire, go bigger and broader with my man Chris Hogan on the Chris Hogan Show.

[00:39:30]

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. Subscribed to the Chris Hogan Show wherever you listen to podcast.

[00:39:45]

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.