Live from the headquarters of Ramsey Solutions, broadcasting from the car rental studios. It's the Dave Ramsey Show. We're Natters, 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.

Open phones, a triple eight eight two five five two two five. That's Elite eight two five five two two five. Jon is with us to start this hour off in Kansas City. Hi, John. How are you?

Not too bad. I appreciate you taking my call. Sure. What's up here? For the last dozen years, I've been focusing on real estate investing as a landlord, and I do a few flips here and there. But I've I've focused on that and I don't feel good about some of my cash investments. As far as, like IRA goes, I feel real good about what I've done with with real estate, with that done for my net worth.

But, you know, at this time, should I just continue on with my real estate investing? We're going to need to put more money in my IRA. I have about 150 and I'm 50 years old. Mm hmm. No. One 50, my IRA.

Well, the point of getting retirement is to have some wealth, right? I don't really care what it's in as long as you're comfortable with it. I'm only comfortable investing in two things.

I invest in good growth, stock, mutual funds, and I have a lot in that in my retirement accounts. Now, if you're in a bank, IRA, you should cash and you're making one percent and you need to roll that and get with the smart Vesterbro and get it in a mutual fund.

Well, what I meant was long term, long term cash. It's what the investment company. Does it make any money?

Yes, this is doing well. OK, so what's the gripe?

Well, I just don't feel good about it, I guess, is what I'm saying. Why should I be a little more well-rounded, you know?

Well, you're heavy real estate, right? Know, you don't feel good about that or you don't feel good about the aura.

You investigate about being heavily invested in real estate. I mean, I feel good for what it's done for me. It's it's performed well under really good return on investment on a percentage basis. I'm just looking forward to another 10 or 15 years when I want to retire.

Yeah. Know is are the properties all paid off? They are. OK, and what's the total value in your real estate portfolio? Well, about one point two million more to go, man.

Mm hmm. Very well done.

Well, I am personally just you know, this is who you're asking are way heavier in real estate for two reasons. One is I bought a bunch of real estate at a nickel to a dime on the dollar in 08. And so that stuff has gone through the freakin roof since I bought it at the bottom, comparatively, I mean, the lost values in 08 recovered within 18 or 24 months. And then on top of that, it has appreciated dramatically since then.

And I'm an old real estate dog. I got my real estate license in 1978, man. So I love that business and I love that investment. I'm very comfortable with it.

So, you know, way more than that, 50 percent in real estate in my net worth.

And so but I'm very comfortable with that. I'm not worried about it because the real estate's all doing well. It's not got if I got a piece of real estate, they'll do well. I get rid of it, but I don't get into that very often.

So there's no rule that says that you can't be there.

And other people, on the other hand, hate being a landlord and they've got all their money in mutual funds, which is just fine.

Those are the two things I put money on. I don't really put money in anything else.

It's kind of same here. Yeah, I do have a home mortgage. I don't feel great about it, but let's get that cleared off. Mm hmm. That'll probably help me.

And you know, if you pop one of those investment properties and pay that thing off, that wouldn't make me mad.

But I mean, have you done something theoretically wrong, by the way, that I teach or run my life or Chris teaches around his life?

No, you haven't. OK, well, my my thing about, you know, like my home mortgage is about three hundred K in my house is probably worth double that from about 20 percent there. I always look at the interest rate on my home mortgage and think, well, I'm making a lot more with, you know, with my money in the real estate. That's bull. That's complete bull.

If your house if your house was paid off, you wouldn't go borrow on it to buy a rental house.

When you're sitting on a million and a half and a million two and paid for real estate, if you thought that was great, you would have been deep in debt on that stuff.

You don't think so? If, you know, if I if some of my real estate brings me, you know, fifteen to twenty five percent return, I would not borrow on my house to buy that.

OK, well the only thing I borrowed, you know, my mortgage is just on my high now effectively you've borrowed on your house to buy that because you're not willing to sell it to pay off your house. It's the same math, right. So you can do whatever you want to do.

Right. I pay off debt and stay out of debt. And I got out of debt a long time ago. I don't borrow money. And so when a pandemic comes or 2008 comes right. Or a nine one one comes, I'm the little pig in the brick house.

The wolf can huff and puff and I'm ready.

And George, you've done a great job, of course, paying off the rental properties. And that's great. Now, as Dave was talking pivot, let's look at your primary residence. This is your home, for goodness sake. You want that thing paid off and out of your life. So that needs to be the next mission.

If you're making fifteen percent on a piece of real estate, dude, you're not making that in a mutual fund. It's got a higher hassle factor than the mutual fund has. But you're not making that on your mutual fund. So I make more on my real estate than I do on my mutual funds.

But the mutual funds are less hassle.

And, you know, so it's whichever one you want it it doesn't really matter.

The main thing is grow money. Diane is in Vancouver. Hi, Diane. How are you? Thanks for taking my call. I really appreciate it. And crazy to tell you, first of all, I am one of those old dogs that used to go to the snake store with my mom to cash in the booklets to love it.

So. So my question is, I'm sixty four and half. My girlfriend is 62. I've been single for seven years. She's been single for 20. We're both pretty well financially set. I've got about a half million in my retirement account. I don't know anything with the exception of my condo and my girlfriend, pretty much the only thing she's got about four times the amount. So we're debate. We're having these conversations as far as how do we get married?

Do we not get married? You hear all the different comments from the peanut gallery. Why do you want to get married? What are the benefits besides the spiritual benefits? So wonderful. I get your thoughts as worries at this age. What would what would you do in a situation like this?

I am that age.

And so but, you know, the answer is real simple for me. I'm a Christian. I've got one option. Get married. That's my only option.

And I and I believe as a person of faith that God gives us that direction because it's what's best for us.

And now do you need to maybe do a prenup with her with two million and you with a half a million for clarity? Yeah, that wouldn't be a bad thing. I don't usually recommend prenups most of the time I don't. But you guys have enough money there and it just keeps the everything real clean and, you know, extended family or whatever no longer has an opinion once there's a prenup in there.

But you know, but then you keep saying at this age you're young, you still got thirty seven years left, but, you know, live your life and connected to someone that loves you and you can love and keep moving forward. I'm sharing all his jokes. You'll be remarried in about 30 minutes.

When I'm gone, I'm like, no, it'll take me forty five years. I've cried for twelve more minutes.

Gonna get killed when I know where you are. This is the Dave Ramsey Show. I get the privilege every day to talk to smart, creative entrepreneurs doing great things for our economy, grippe six is no exception. That's why I'm so excited to announce to you that Grippe Six is expanding their innovative product line along with their belts. They're adding an aluminum wallet and every day wear merino wool socks and all of Grib six products are guaranteed for life. Give these products as gifts this season to get the Dave Ramsey special visit grippe six dotcom.

How can Ramsey personality is my co-host today here on the air. I'm Dave Ramsey, your host. Open phones a triple eight eight two five five two two five.

Tim is with us in Indianapolis. Hi, Tim. Welcome to The Dave Ramsey Show.

Hey, guys. Thanks for taking my call. Sure. What's up? They've been watching your videos for about a month now, so I'm just trying to familiarize myself with your baby steps. And I have a question about baby steps four and five. To save 15 percent or 15 percent towards retirement, right now, we're putting about eight percent, we have about two hundred eighty five thousand in the four one case. We have a freshman in high school, a seventh grader and a fourth grader.

We have no money set aside for their college. So if I up that to 15 percent, that leaves us really only about five to six thousand we can put aside for their college per year. So I'm wondering if I should go ahead and up to 15 percent or save more for college.

What's your household income? 95, OK? And so we're talking about another five or six thousand dollars. Yeah, yeah. OK, so you're either going to put 12000 a year for college or 6000 before college and you have a freshman.

Exactly, yeah. And you have also we have I'm sorry, we have about twenty extra thousand in our savings we can put towards college or something else, whichever would be best to put it towards.

OK, well, what I'm going to do is back into a community college and or a in-state tuition college because that's all you're gonna be able to afford.

Yeah. And start talking to them right now about what that costs today and then that gives you your goal.

Because I'm afraid you're more than 6000 dollars a year off for four years. That's going to get you there. Oh, no, I'm looking at in-state schools and there are about twenty thousand with room and board now, so yeah, was Forseti. Right, and then times three kids, yeah. So six thousand dollars a year is not that. In other words, doing this is not going to get you there. So I think you're going to have to have other plans also, regardless of which answer you get.

Mm hmm.

Yeah. Yeah, I, I agree with that too. I just didn't know if there was a specific college fund. I should do that. Twenty twenty five thousand dollars. Yeah. I mean I'm going to put on a mutual fund.

You've got quite a few years before you're going to actually use it and I'll put it in a 529 and let it grow tax free. But if you stop retirement completely and put it all on college, you've still got a college shortage. Yeah. Yeah.

So you've got to be not only in-state tuition, maybe they're living at home, maybe maybe community college the first couple of years. Maybe maybe they're working while they're in school. Yep, yep.

And you know, that kind of stuff and scholarships out your ears, everything in the world you can come up with. That's exactly right.

Yeah. You know, talking to them. Talking to them.

Yeah, talking to them. Helping them to understand that the scholarships and grant are going to be imperative. So that's their grades, that their community involvement. This is a real conversation to be having with that freshman. And there's nothing wrong with going to community college to knock out the prerequisites and then transfer to a four year institution. And so you have the ways of being able to do this and in a financial way that you can afford.

So here's the thing. I'm going to set the goal. I'm going to dig into the details on the college and lay out this is exactly what we're going to do. Here's what it's going to cost. Here's how we're going to get there. And then I'm going to back down and look at this retirement question again at that point.

But for me to just go, oh, you can ignore the baby steps and pile up college because you're in because you're in a pinch. No, I think it's a bigger question than that.

And so you've got to dig in and decide for yourself how you guys are going to get there. Hold on.

I'm I'll send you a copy of Anthony O'Neill's book Debt Free Degree, because you because you did that.

I mean, it's just it's good. Very well done. All right.

Open phones at eight eight two five five two two five. Chauncy is with us on in Houston, Texas. Hi, George. How are you? Hi, Dave, I'm better than I deserve. If I were you just the same, how can I help? Dave wanted to get your advice on baby step six, but the longer I'm in, I guess the the Ramsey family, even though I just have the mortgage, the I still want to get rid of it fast.

So I was I was thinking if I could go back to, say, big city to and just stop everything like I did before and just put all the same stuff before a year, just get myself 12 months and then put all of that extra cash to my mortgage to try and get it down even faster. What's the balance on this man? Because I'm just in a hurry to get it done. What's the balance on your house? Fifty three thousand.

Well, that's not going to pay off. And when you're. You're not going to pay it off in one year.

Well, I went paid off in one year, but I had to take a huge chunk out of it, I think you take a huge chunk out of it while you're doing the baby steps to deal with the chunk of the bigger days.

Not much.

And it's going to cost you millions of dollars later in your life when you didn't save like we told you to do. No, I'm not doing that. OK, Jhansi, don't you do that? Don't you do it, OK? I'm telling you that. Listen, are there other ways that you could bring in extra money and attack it? Sure. You've got blessings and gifts. You could bring in some extra money and throw at the house, but not at the sake of stopping your investing.

It sounds good in theory, but I'm telling you to stay focused on the steps. Don't you mess with this recipe, girl.

So here's the thing. If you work it either way, if you work, if you work it, let's say you're paid off in seven years, OK?

If you do it your way and you stop the 15 percent, it's going to pay it off in four and a half to five years. So the only argument here is a couple of years. The only difference, if it made a 25 year difference, I would discuss it, but it doesn't make a 25 year difference. It makes a two and a half year difference. And I'm making up those numbers, but they're not far off. And so that's what I would do.

I would keep doing the 15 percent and take the longer path on the house. It's not that much longer.

And that way you haven't, you know, lost the momentum on investing because that compound interest works.

It does. And I respect Chauncy. I respect the intensity. I love the focus, but not at the cost of you putting away money for your future. So, again, sit down, look at your blessings, your gifts, your talents. What are some ways you could bring in an extra 15 to 20 grand a month and throw it at the house, but keep investing the 15? And so that's that sacrifice factor. It's amazing. We're good at setting goals.

We're not necessarily good as identified what we're willing to give up to get it. And so stay the course, stay with the fifteen percent. But at the same time, think of ways, brainstorm. How can you fast forward this mortgage?

Yep, that's how it works. Open phones at eight eight two five five two two five. Melissa is in on Instagram. I'm in Financial Peace University. I just saved up my first thousand dollars for baby step one. Where do I keep this money?

Well, Melissa, I would tell you, just to slap it over into a savings account, don't leave it sitting in your checking because that's there's a name for that money that just sits there and it's called spiffed. So just put it right over in your savings account and then turn your attention to baby step two, young lady and attack that debt. Small is the biggest use in the debt snowball.

It doesn't have to make any money. No, you're in your emergency fund is not an investment.

It's not an investment, your emergency fund is insurance and whether it's your bargain or emergency fund baby step one or whether it's your longer term full emergency fund, three to six months of expenses, baby step three. In any case, what it earns is not where your wealth comes from.

And if so, it's just like insurance. It costs you money because it's not invested well. It costs you money in order to protect the things that make you money.

Because if you don't have an emergency fund, you know what people do when the transmission goes out, they cash out there for one car or borrow on it or they cash out their IRA and they take all these penalties and all these hits.

And because you didn't have an emergency fund. So see what I mean? It's insurance to protect the things that make you money. And that is what the emergency fund is all about.

It's a rainy day fund. Why? Sometimes it rains, sometimes there's a pandemic. This is the Dave Ramsey Show. There's almost always a rise and break ins this time of year, it's why simply safe home security is having a huge holiday sale. Recently, U.S. News and World Report called it the best home security of twenty twenty. So whether you're traveling or staying put this season, protect your home, get thirty five percent off, simply safe. Plus a free security camera today by visiting simply safe direct dotcom hurry.

This deal expires on Friday. That's simply safe direct dotcom. For Ramsey, Personality is my co-host today here on the air. Open phones are triple eight eight two five five two two five. Carsia is with us in Long Beach, California. How are you? Hi, Dave. How are you today? Great. How can we help?

OK, well, first of all, I just have to say thank you because because of your plan and keeping me calm and keep me on a plan, we paid over 200000 dollars worth of consumer and student debt. Why we are on baby stuff. Thank you. And babies. That number, I think for. Wow. So, yeah, it's life changing. Thank you.

Way to go. I'm impressed. Very cool. Yeah. How can we help today.

We are. OK, well great. Well I live in Long Beach, California, but not for much longer. We are going to be moving back to where I'm originally. I'm a native, but my husband is from northern Kentucky and we're going to be moving there either this spring or summer when we bought a house in California. I like this joke that we bought a whoopee house. So our house is ghetto adjacent. And so we bought it at the right time and we have about three hundred thousand dollars worth of equity.

But my I learned really bad finances from my family and my parents originally had houses in San Francisco. When they sold it, I think they sold it for 300000. The last time I looked, it sold for three point two million. Then they had a house in Sonoma. They sold that for 400000. Last time I checked, it sold for one point five million. So I'm a little nervous about selling this house, even though I'm going to have a gain.

And I could potentially buy a house in Kentucky for three hundred thousand three hundred to four hundred thousand cash, or do I hold on to it and not make the mistakes my parents did your president make a mistake?

They sold the house for the price it was that at the time, Bill, and had they tried to hold on to that house for 25 or 30 years, too, for it to be last time I checked, one point two million, you know, they would have had 25 years of paying.

So, no, they didn't make a mistake, the getting completely out of the real estate market and saying I'm never going to own a house ever would be a mistake because the over 25 years you see a move from, you know, or whatever number of years it was that those stories occurred. But I'm sure it was a lengthy period of time. It wasn't 20 minutes. Right. Yeah, so you're moving to Kentucky, sell your house. Yeah, you don't want to do that.

You don't want to do that. long-Distance landlord culture.

No, it's I'm a real estate agent and I'm here, so I've already had to go through some really nasty evictions. Right. And that's a part of me that just I'm really nervous about that at this point here. If we can move to Kentucky, we can be cash strapped southern. And we also have three kids who want to go to school. We also have three kids who want to go to Catholic education. So we have that to fund as well.

OK, well, you've changed your legacy by attacking debt and look at it. And so, honey, you're on a different path. You're thinking differently and you're doing stuff different. And so the lessons, you know or mistakes your family made with money, those aren't yours anymore. You've you're right in a brand new chapter, young lady, and proud of you. And so you're going to get a raise as soon as you leave that California area and get to the great state of Kentucky.

And I'm from. You're going to get a raise, honey. Quality of life.

Daniel Boone and Chris Rock. Quality of life is going up. You're about to buy a house with cash and you're going to do things differently. I'm proud of you.

Well done. Steve's with us in Florida. Hi, Steve. Welcome to The Dave Ramsey Show.

Hey, what's up? Well, I was hoping for some advice with a family member only give us about two hundred thousand dollars to help pay off our house what we have left on it. Wow. And then we would we would pay them back over over the next few years. Oh, that's not giving. That's loaning. Well, yes.

And certainly no thanks. No thanks.

Thanks. The borrower's slave to the lender, when you eat dinner, Thanksgiving dinner with his family member, it's not going to taste the same when you owe the money on your home. Like my wife already accepted the money, we'll send it back.

OK, so you would look at refinancing, you called to ask me if you should do something that you've already done.

It's up to it, but I wanted to check and see if there is if you should use it to pay off the house or it would be wise to use it. It would be wise to send it back.

It was a loan. Yes, it wasn't a gift, if it's a gift, it's a different thing. As long as there's no strings attached, but alone, you have to pay back and you're going to change the dynamic of the relationship with the person involved must be her daddy.

A large amount of money, too. We're not talking to Grant. This is 200000 dollars. We're going to have 200000 reasons to be looking at you, Cidade, for the next five years until you pay them back, you know.

No, no. And he will send it back either. All right. Let's see here. Carlos is with us in San Jose, California. Hi, Carlos. How are you?

Very good. Thank you for taking my call. Got a quick question for families on set number two. We found you a few months ago. We have about seventy five thousand dollars in debt, which 62 of that is student debt. Our income is about one hundred and fifty thousand. Good. You're going to be doing fine earlier this year. Now, earlier this year, we were able to buy our first home, but we use a down payment assistance program, so this is a zero percent interest for 30 years.

But they do take a share of appreciation, which is 17 percent, which is what they lent us. So my question to you is, should we focus on paying down that debt, the student debt, or do I knock out the one hundred thousand dollars we owe for a down payment assistance program? Well, hold on.

Carlos, what's the other 13000 of 62000 of it in student loan debt? He said you had 75. What's the other 13? It's about 12 and a half in alone. In a column today, right? Well.

The shared appreciation mortgages, not a good deal for you, the longer you stay in it, the harder it's going to be for you to get out of it, because the government now owns 17 percent of your house. That's what this amounts to. So, you know, paying the 100000 dollars off does not get rid of that.

Refinancing the loan and getting the whole loan gone gets rid of it. So probably what I'm going to do is work to get rid of the car debt, then the student loan, and then I'm going to refinance and get out of this SAPE loan, the shared appreciation loan, the AP.

And so.

It's a. Yeah, yeah, you just. The idea that they're going to get 17 percent of your growth because they lend you money, I mean, I haven't seen all those in years. I didn't know they were still doing them.

Yeah, I've heard of the real housing where they have the recapture, but that's a subsidy. Yeah, but that's just the sap.

I mean, we used to do them back when rates were ridiculous, like when rates were 14 and 15.

We I mean, sure. Depreciation loans started popping up then because we were doing anything they could to get an interest rate down. But in this current world, why in the world would they even have a product like that out there?

And Carlos, it's not a good deal for you. You did not save enough on your interest rate in order to justify giving up 17 percent of your ownership. So I'm going to work my way through. The good news is you make 150, you can pay off the 75 in two years when that started. Let's talk about refinancing this house and getting rid of Shapp. Yeah. And getting the house under your name completely and ending whatever whatever penalties this results in and everything else.

Get it all repaid with a stick with a refinance and let's get it straightened out that way. So, hey, man, thanks for the call.

Open phones at eight eight two five five two two five.

So here's a thing. There's no shortcut. To any places worth going. There's no shortcut to building wealth, a shortcut to home ownership is going to get you a bit on the bottom. Oh, yeah, a shortcut. If it sounds too good to be true, it's because it is. You know, it's. Easy payments, hmm, always means no idea.

You mean 90 days isn't the same as cash? I mean, that's the truth.

No, not the same as not. And so, I mean, when something feels easy. Yeah. And painful, I mean, not no pain involved in you actually saving up and paying for it. You're about to get your butt because that's what's happening. This is the Dave Ramsey Show. Our Scripture of the day, Galatians one 10 four, am I now seeking the approval of Man of God or am I trying to please? Man, if I were still trying to please, man, I would not be a servant of Christ.

Warren Bennis says becoming a leaders phenomenon synonymous with becoming yourself. It is precisely that simple and it is also that difficult. Well, there you go.

Open phones at eight eight two five five two two five. Chris Hogan Ramsey personality is my co-host today here on the air. Allison is with us in Hammond, Louisiana. Hi, Allison. Welcome to The Dave Ramsey Show.

Hi. Thank you very much. Sure. What's up? So we just move to Louisiana from Maine about two months ago, me and my husband, we and I've been trying to find a job down here that I like and it's not working. So now I have two jobs. I work Monday through Friday. I'm a tire mechanic at a shop, and then I work at a Harley-Davidson store Saturday and Sunday, and then I'm actually in the National Guard also.

So one weekend a month I'm going to drill and I want to go to school. But with having a schedule like that, I'm just trying to break even on the bills right now. I'm not trying to make a million dollars. I mean, like, I'm trying, but it's not working out. So I don't know how to balance work and trying to go to school at the same time while still paying all the household bills and. Creating a plan watch her husband make.

He's on a tugboat, so he makes one 85 a day. He works twenty one days on, 14 days off. So it's a yes. So he's making 50 grand a year, 40, 50 grand a year, right? Yes, yes. OK, and why can you not make your bills if he's making 40 or 50 grand a year and you're working? Yes, it's just. I don't know if it was because of the move and we had to spend a lot of our money to get down here and get all our stuff down here that we don't have as much safe anymore.

How much do you have? We have two vehicles and I have a credit card of five grand and a student loan for five grand.

OK, we are in the audio of the cars. My car, I own 19 and his he owns 40, I think. OK. Forty thousand dollars, and he's on a tugboat 21 days out of 30 for that dadgum thing to sit in the driveway, that's dumber than a rock girl. It's a you're going to be mad at this part to the police and I don't know how to get out of it. That was the main thing I would love to get over.

Yeah, you need to sell both of these cars. The reason you don't have a life is you gave it to the dealership. You're in slavery. Both of them have to go, so the way you do a fleece and get out of it, you're going to get out of it if I tell you how. Yes, and you can tell tug boy, boat tug boat buoy, his car is gone right now. Don't text them. Wait till you talk to him.

I'm serious. This stuff is killing you guys. It's not the move that got you. It's these cars. You have sixty thousand dollars in car debt and your household income and even 60 grand.

I'm so sorry, honey, you're I'm just I'm mad for you that I just screwed you this bad and you let it happen. Oh, my gosh. All right, so how do we get out of it? So here's what you do. You jump online and found out what the stupid car's worth. It's not a car. It's a truck, isn't it? Yes. Yeah.

OK, we've been down this road a couple.

So. All right. Me too. I'm not laughing at you. I'm laughing with you. I just it's the same exact stuff I would have done when I was 25 or y'all.

25, 23. OK, close enough. All right. And so.

You jump online, let's find out what the car is worth, the truck is worth, let's pretend that it's worth thirty five thousand dollars. Where did you get 40000 as to what you owe on it?

I'm sorry, where did you get the number 40000 that's owed on it since it's a lease? Well, we have we're going to go for the lease aspect. I think we only know about 10, but it's over miles, so it's twenty five cents per mile, but it's over. So we were thinking of the cheapest way. To get out of it would be to buy it and then sell it at the end of the lease. It may be it may be the cheapest way, but let's go ahead and do that now.

You don't have to wait till the end of the lease. OK, so you call them and ask them for the early buy out on the lease. If you want to give them a check and they give you the title. Have you done that? Is that where you got 40? No. OK, that's all together. You were just estimating, you were guessing. OK, how long has he had the truck?

Two years later, what was the MSRA on it when he bought it? The sticker on five 55. 65, 65, two year, and that was a sticker on it, we got it knocked down probably to 50 to.

Not an election, OK? My family, friends on the dealership, you know, they were so good to you, too.

Yeah, I know it's such a blessing to have friends like that, so. All right.

So call them back and ask them to take back this blood. No, they're not.

I'll tell you what they would have heard of you two years ago, because I know you. It's I'm sorry. I'm sorry. I just. I just hurt for you and I'm just aggravated for you. Not at you, honey. I just want you to get out of this because it's killing you. It's killing you. You're working on a tire store to pay for his truck. So. All right. So call the car fleece company and ask them what the early buyout is.

I'm afraid it's going to be more like 50 grand than 40, OK? I don't know.

But you ask him for the early buyout, and that's like the payoff on a car loan. That's the same number. OK, that makes sense to you.

Yes.

OK, then what I want you to do is to jump on Kelley Blue Book, KBB, Dotcom, and let's find out what it's worth. And then you're going to have to come up with a difference with a loan from someone. So if it's a 50 Buy-Out and you look it up and it's worth 40, then you're 10 in the whole. And if you can, you got to write a thousand dollar check in order to sell the truck. And you're going to borrow that money somewhere, but I'd rather you be 10000 dollars in debt than 50, which is what I think you are in debt.

I don't know what you have to get into it and figure it out, but basically you've got to cover the difference and you're going to be in the hole. Just like if you had borrowed the money on a car loan, you'd be in the hole, you'd be upside down. It works the same way. It's only they hide it under the mystery in the fog of a lease. But it's still all in there. It's still you getting screwed is in there.

So here's what we need to do, OK?

I need to put the two of you and has he got Wi-Fi available in the tugger, I'm assuming? Does he have cell phone service? So from there, yes. Good.

OK, I'm going to put you two in the Ramsey Plus and Financial Peace University so you can learn how to handle money. Or also, Kelly is going to hook you up with one of our Ramsey certified coaches, Ramsey preferred coaches. And it's going to be free. We're going to pay for it to help you get out of the truck. She's going to help you get out of this truck because you're so screwed in this thing. If we don't walk you out of it, right.

It's going to double the pain, our triple the pain.

And so it's not we're not making a dime on this. We're going to help you for free. I'm paying for all of it because I know how scared you've got to be. He's gone on the boat for three weeks out of the four week month, and you're over here trying to fight stuff off by yourself. You're 23 years old and you just move to a strange town. Yeah. So we're going to love you, kiddo. We're going to walk with you.

I'm fussing at you, but I'm fussing at them for showing you this truck and you for buying it. Not because because I'm mad at you or something. I just I hate the injustice of this in your life. And I want to help you get out of it. So, Christian. And I'll take care of you and don't do that. We'll get you set up with a counselor, Kelly. You can get her set up with Ramsey Plus as well.

Yeah.

And the main thing, Allison, is it's not always going to have to be this way, young lady, but you guys will have to lock arms and get serious about this and do the Ramsey plus stuff together.

Yeah. And you people, these car dealerships, that's immoral. For a 22 year old young woman, walk on the thing and walk out with a 65 mile an hour truck, that's even more ridiculous.

That's just wrong. At some point, you've got to do business in a way that's that's a blessing to people. That's immoral. God. Oh, thanks, James Childs, for producing today.

Kelly Daniel, our associate producer. I'm Dave Ramsey. Your host will be back with you before you know it. In the meantime, remember, there's ultimately only one way to financial peace, and that's to walk daily with the prince of peace. I have a friend or family member that needs a daily dose of Ramsay advice in their life. Let them know about the Ramsey Call of the Day podcast. It's a quick hit of advice about life and money.

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