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[00:00:24]

Live from the headquarters of Ramsey Solutions, broadcasting from a car rental studio, this is the Dave Ramsey Show where America hangs out to have a conversation about your life. I'm Chris Hogan and hosting along with me this hour is Ken Coleman, and I can't tell you how excited we are to talk to you about your questions about money, about career, about jobs. Coleman, I think you you know, you've been helping people all day already. Are you still in the groove?

[00:00:53]

I'm warmed up by two hours already in the books. And we walked right over here. Now, I got to tell folks my voice a little scratchy, a little deeper. I think so. Who are you trying to be like Hoggett now?

[00:01:04]

We had a high school football game last night. I'm not sick. I don't have allergies. All right. A little too much yelling at the big comeback win by my kids football team last night, working out his comeback win.

[00:01:15]

That's always a good thing. That's right. But I had to shut it down in third cause I realized, well, I got to be on radio tomorrow.

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All right. Well, I just want to make sure you weren't trying to imitate me, so I appreciate you telling me a little bit. You're a little bit deeper. You'll never, ever approach you. Well, you could.

[00:01:29]

I don't think so. You know what? You may not be able to get as low as me, and I can definitely not get the hair you have. So we will envy each other and just rocking. I love that. All right, listen, if you're out there, I know you have questions. There's so much going on in the world today. I know you've got something on your mind about your money, about career. We want to hear from you.

[00:01:47]

Call us the number to call us Triple 8255 225. Again, that's eight eight eight eight two five five two two five. Or if you want, find us on social media. You can find us at Ramsey Show. You can find Ken Coleman, Atkin Coleman Show on Facebook, Atkin Coleman on Instagram and Twitter. You can find me at Chris Hogan 360. So we're going to put that out there. We're willing to talk with you. We just need to know what's on your mind.

[00:02:12]

So we're going to jump to the phones without wasting any more time. We've got Jackson on the line in St. Louis Jackson. How are you? I am great, sir, thank you for taking my call. How are you today? Oh, my friend, we are focused on not finishing. Glad to talk to you. How can kid help you with your career question? So I've been I've been in law enforcement for about seven, eight years now, and I'm just looking at a career change just because I'm changing a whole lot of burnout and I've developed a strong passion and interest for wanting to be a financial rep or financial adviser and helping people achieve the same goals that Ramsey Solutions helps helps people achieve.

[00:02:51]

I love everything that y'all teach. And I have been in a kind of a promising process with a certain company. But the more I've learned, the more I realize they push a whole life insurance as their main policy or their main income driver. And I don't want to support that product. Right. So I guess my question is, is in searching for jobs in that area, are there? Any tips on what to look for in a company to know, like, OK, they teach the solid principles that, you know, that, you know, baby steps are founded on, that financial piece is founded on things like that?

[00:03:27]

Sure. Well, I love this question. I get this on the Ken Coleman all the time, Chris, and it's kind of fun when we can go, hey, Jackson. So you actually love Dave Ramsay's principles and his baby steps. It's had a profound impact on your life. And as a result, you want to do the financial advising, the kind of stuff that Chris writes about and retire inspired his number one bestselling book. And then Everyday Millionaire, the second number one best selling book.

[00:03:48]

And, you know, we've got a great resource for you. You need to go to Dave Ramsey dot com, and I'd look up those smart VESTER pros in the St. Louis area. Now, the way that our Smart Vesterbro program works is we vet these men and women based on their heart of a teacher. And do you endorse the way Dave teaches how to invest, save? And then we run them through a rigorous program and if they don't take good care of people, we kick them out.

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And so for you looking for somebody that's not going to a cell whole life, a policy, you know, a product we do not agree with and you don't agree with. And B, they're going to be like minded to Dave and you, Jackson. That's where I'd start. I'd start look at those companies and I would say, hey, I would reach out, see what opportunities they have, what qualifications you're going to need for those opportunities. And it wouldn't be bad to kick the tires with with some of them to say, hey, I'm a Ramsey guy and I'd like to eventually get where you are.

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And this is where the proximity principle comes in.

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Jackson, which is what I teach in order for you to do what you want to do to be a financial adviser. Jackson, you've got to start meeting, getting around successful financial advisors and then getting in places where financial advisors are hanging out as well. And I think that's where I would start, because right right away, if there are smart Vestre projects and we're now on an equal playing field as far as values go. And that's what you're asking.

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Yeah. Jackson, let me ask you this, my friend. Is it the people side that you like or is it the money? No side. Honestly, both, yeah, OK, I, I love I love building relationships with people, I work helping people achieve goals. People, OK? And I also love just the just the the money side of it excites me as well, looking at investment planning and that and that nature.

[00:05:42]

OK, well, Ken's advice of connecting with the smart Vesterbro is absolutely dead on a great place for you to start to go to lunch, build some relationships, talk with them about how they're working with people because your values are going to be in alignment. How long have you been in the law enforcement field?

[00:05:58]

Seven years.

[00:05:59]

OK, and so what's your timeframe of making this change? Best case scenario. Best case scenario, probably. I was hoping, you know, maybe by January, just so I have time to get some loose ends, things like that tied up in Jackson, your very favorite.

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You're very familiar with what it's going to take to get that qualification, the licensing, the certification necessary to be available, to be qualified and get the opportunity. You're all set. Correct?

[00:06:31]

I'm I'm learning, I'm starting to study and, you know, learn to get the licensing and the got the exam, things like that.

[00:06:38]

Exactly. Because here's my point. I know that you feel burned out because of of all the different things where you don't have time to unpack all the reasons why you're feeling this way. But it is really important in this process that you get qualified before you leave the law enforcement situation unless you are financially able to walk away and if you're financially able to walk away while you're looking great, but if not, hang in there a little longer. That's the only thing I want to make sure of.

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OK, yeah, hang on the line of Kelly. Let's give him a copy of my number one bestselling book, The Proximity Principle, because this is going to give you a step by step path to be able to get connected to where the opportunities are coming to you, Jackson, before you leave the police force.

[00:07:25]

That's when I was going to bring that up, because it is so important for people to no one understand. If you're looking to make a change, let's just acknowledge first and foremost, you're not stuck. Right. You're going to be able to make a change, but you need a plan and you need to know that, hey, I'm not going to get in a rush and leave the wrong way or hurry up ahead of my resources and timing and so can't.

[00:07:47]

I'm glad you brought that up, because I know a lot of people out there are sick and tired of maybe of what it is they're doing. They're looking for something to change. Well, guess what? You got to begin to have a plan. And Ken's book, Proximity Principle. I'm going to tell you, this is not something I have already given copies of this to my cousins. I'm going to tell you, this is what grown adults this is for people that are looking to make a change.

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Then you go, how do you begin to do it? Ken is going to unpack it for you, let you begin to see and understand what you need to do. Now, I'm going to also challenge people. You're going to have to put in the time. You're going to have to turn off TV and really get serious about this career path and know that, hey, if you read this information and apply it, it will change your life.

[00:08:27]

This is the Dave Ramsey Show.

[00:08:55]

At Takeover's, we believe a great pair of cowboy boots should be comfortable right out of the box so you can stand with confidence no matter what the day throws at you. We believe in the enduring quality of handmade boots, and we believe that your hard earned dollars should go far. So we only sell direct to, you know, retail markups, no middlemen to deal with, just amazingly handsome cowboy boots for men and women. That won't just make you look taller.

[00:09:19]

They'll make you feel taller to find your Perret takeover's dotcom, slash Ramsey and walk taller.

[00:09:36]

Welcome back, America. You're listening to the Dave Ramsey Show, I'm Ramsey personality Can Coleman, host of The Ken Coleman Show on the Ramsey Network Co hosting the Dave Ramsey Show. With me this hour is Chris Hogan Ramsey, personality number one, best selling author of Retire Inspired and everyday millionaire and host of the wildly popular The Chris Hogan Show. Another show, a part of the Ramsey network.

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By the way, we should point out, Chris, that we spent hours and hours and hours, tens and tens and tens of dollars on those names of our shows.

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You know, listen, we wrestled back and forth and finally we came up with the Chris Hogan Show and the Coleman show.

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Listen, sometimes things take research. I know a lot of time.

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I know a lot of effort.

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Hey, I want to tell people about some of the great stuff you've got at Chris Hogan 360 Dotcom, the net worth calculator. What a wonderful tool to kind of let you see where you stand. And then the RACQ, the retirement calculator, both of these are great resources that can quickly give you a snapshot of where you are and also where you need to be. And that's what Chris specializes in. Chris Hogan, 360. Dotcom is the Web site, of course, I mentioned his two best selling books, Everyday Millionaires and then retire inspired.

[00:10:56]

And then, of course, I mentioned the Chris Hogan Show, YouTube, Apple podcast, Google podcasts, and also joins me and Dave on Sirius XM. He's got the everyday millionaires investing guy to step by step playbook for building. Well, well, this is a 30 page guide and it's free. Get at it. Chris Ogen, 360 dotcom slash start now.

[00:11:18]

Well, thank you, Kim. That's true. We got two free tools out there to try to help people. And listen, I told people to send a social questions and they're doing it. All right. Remember, it's Atkin Kohlman at Chris Hogan 360. Here's a question I got from Samantha on Twitter. My mom took out a parent plus loan for me when I was in college, and her name only. She passed away last month. Is my dad now responsible to pay it?

[00:11:40]

Well, Samantha, first and foremost, my prayers and condolences go out to you and your family. That is a tough thing to have to deal with. But and as far as that loan with parent plus loans, a couple of things to know about these. Number one, interest starts to accrue on these bad boys as soon as the funds are disbursed, even if it's in deferment. So the clock is ticking and the interest is growing. The other side is parent plus loans are taken out in the name of the parent only and can never be forced to be assumed by the student.

[00:12:10]

It's in the parent's name. But here's the reality, Samantha. Your mom and dad were married, which means that, hey, any credit is jointly in their name. So it's going to want to get a copy of the paperwork. You want to get a copy, pull your mother's credit report as well, kind of get with your dad. And if you have to get connected to one of our financial coaches, you can go to Dave Ramsey dot com and click on financial coaches.

[00:12:32]

We have coaches that are designed to help you all walk through and begin to kind of unravel this process. Again, my prayers and condolences go out, but you want to know the facts and know what you're dealing with so you can make the right decision, you know.

[00:12:44]

Wow, tough stuff. Always. You always hate uncertainty piled on top of uncertainty.

[00:12:49]

Oh, that's absolutely. And when you have heartache on top of financial stress, it just it doesn't help. All right. We're going back to the phones. If you're out there, you've got a question. Call us Triplette 8255 225 again, that's eight eight eight eight two five five, 2005. Call us. Kelly is standing by, ready to go. She's ready to take your calls and we're ready to talk to you. So we've got Allison on the line.

[00:13:10]

We're going to go to Fort Campbell, Kentucky. Alison, what can can I do for you today? Hi, you guys, I'm so excited to talk to you this afternoon. Thank you. So, yeah, so also I have my one year old on my lap, so things get crazy. Just know that I'm. And this is victim. Yeah.

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Oh, boy. Christian, I know we've got three each, so don't worry about it. We're used to it. OK, talk to us.

[00:13:35]

OK. So what are we calling about. So I'm 25, my husband is twenty four and he's active duty military. Are we both. Probably excellent parents. They taught us to work hard. So what I'm either of our parents were excellent insurance. Oh, Alison, you may be breaking up, young lady, you might hang up and try to call us back as happening out there and these things can kind of happen, let's say, Emma. Let's go to Emma here in Columbus.

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Emma, how are you? Yes, hello. I'm well, thank you for taking my call. Yes, ma'am, I have a point. Yes, I have a quick question. Where do we decide between safety for a child and absolutely no debt? And this is our scenario. So my husband and I are foster parents and we adopted a set of twins. And one of them is. Pretty significantly handicapped and now and we knew when we adopted them that we would not have the funds for the large ticket items like a wheelchair ramp, you know, that type of thing.

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But there was a fund, you know, when you depend on. OK. Emily, you still there? Let's see, let's try it again. Emily, you still there? Yes, I'm here. All right, so you were talking about there, were you didn't you knew they were going to be significant funds needed for the wheelchair ramp and what else?

[00:15:03]

Yes. Well, right now, the three big things we need are a wheelchair ramp, a handicapped, accessible bathtub and a fence to keep or rather gate for the fence that we did build to keep her safe and off the road, OK. And and so, I mean, we can borrow the money, but we have my husband's a teacher, so our salaries and fairly low. And we have just studiously avoided that as much as we could. Right.

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But we're kind of at the point, you know, where. I guess we're hoping that maybe there is some other option that we're not seeing. OK. And, you know, we need to do X, Y and Z, but right now, she's she's she's growing into these needs faster than we are able to say.

[00:15:54]

Hey, let me ask you real quick to walk us through the most the highest priority of those three items. And then what's the total cost of all three?

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OK, so the the highest priority right now is a bathtub that because I can't lift your overnight hours and watch how much the bathtub cost, eight.

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Eight thousand dollars. I just got a call. All right. What's the next priority?

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And then the next would be gate for the fence stance that we put up, that's 4000, OK, and the wheelchair ramp, I don't have an exact quote, but it's four or five. That's OK.

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And when you say gate, are you talking about a fence around the house? And so just to try to keep her from from walking out. Is that what you are?

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Yes. We we have we fenced in our yard, which we did that we we got we got it through loads and zero percent financing if we have it all paid off by April. But, you know, if we don't, then we have to pay other interest. So skipping payments on that is not an option. You're not paying interest on it right now. But we would have a big and if we didn't think we're on track.

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Sure, sure. Sure. Yes. Taking anything extra. So, yes, the gate. So she doesn't walk but she crawls.

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How long would it take you to and how long would it take you to save up the eight thousand dollars if you made some changes and you just said we're saving for this bathtub because this is a real urgent issue, how long would it take?

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Well, right now, because we have to pay off the fence, it would take probably a year after April, so a year and a half.

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OK, now you said the time frame for paying off the fences. What date? At the end of April, it has to be paid off. It was 25000, were down to 10. Goodness gracious.

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OK, all right. Here's the reality, Emma. As you look at this, I think the big thing is to understand, first and foremost, you're going to do what's necessary for your child. That's imperative. I like what Ken did. And as far as breaking it down, because everything can't be the priority. That's that's how you get defeated. That's how you feel frustrated and irritated and overwhelmed. And so really laying this out. And as far as, I don't know, have your husband's helping you right now with Barth's because that's the thing for, you know, you're going to have to do.

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You're going have to approach this together or look at the lift that you can use to be able to do that or the shower getting another wheelchair that you can get into the shower. So I want you to start to think of solutions and options. It may not be the optimal thing, but it's something that can get you by. The other side of this is we got to bring in extra income. We got to figure out some ways. And that's taking on a couple of extra jobs.

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Let your church know. Think about people that are around you in your community that can rally. Yeah, I would just say quickly that let's break the cost of eight thousand dollars down and let's see if we've got some church members who are who are handy and can help install that bathtub. There's way to do it for way less money, I promise. But you got to get creative. That is fantastic. This is the Dave Ramsey Show. You know, I don't sit back and just trust that politicians have my best interests in mind, which is why if I had student loans, I would not be waiting around for the government to save me right now.

[00:19:31]

Financial has some of the lowest rates they've ever had. If you have private student loans, get your rates down. Now, no one's going to fix this for you. Take control of your own money. Go to splash financial dotcom slash Ramsey. That's how they will know you're one of our listeners. Splash financial dot com slash Ramsey. Hello, everyone. You are listening to the Dave Ramsey Show, I'm Chris Hogan and hosting along with me is Ken Coleman, number one best selling author and host of The Ken Coleman Show.

[00:20:12]

And I want to let you know, the Ken Coleman show is part of the Ramsey network. It's available every weekday on Sirius XM, your local radio station. And wherever you listen to podcasts can also does work matters. It's a five minute daily podcast. What tells you what's going on in the job market? Hello. A lot of people need this information, how it affects you and your career journey, and it's available everywhere you listen to podcasts.

[00:20:35]

But I want this. This is the thing. But get hard digital course. The unemployment rate has skyrocketed. The job market is more competitive now more than ever. That's why Canada team launched the get hired digital course. To give you tools and strategy, you need to stand out in the application and hiring process. Kids Course has 11 video lessons about how to get clear on what you want to do. Get connected to the right people, how to write the perfect resume, hello and stand out in interviews and so much more.

[00:21:06]

So what do you need to do this? Well, bottom line, you need a computer, a tablet, a phone. Look, you've got access to unlimited replays of each lesson for a year, which is big. This is a limited time offer right now for only 1999. So grab the deal while you can go to Ken Coleman Dotcom to buy the get hired digital course today. Ken, this is it couldn't be more timely in this day and age.

[00:21:31]

Yeah, we're really excited about it. It's what you all who listen to Dave Ramsey for many, many years have come to expect. And that is we're going to give you very practical teaching that when you do it, it will inspire you to keep doing because you're going to get results and we will walk you through it. 11 part series for anybody, whether you need the short term job or you're looking for the dream job.

[00:21:52]

That's good. All right, listen, blind's we all know bottom line, you need to make your house look good. We're spending more time in the homes than ever and sometimes need to keep sun out. OK, just bottom line, or you need to keep nosy neighbors peering over into your house trying to watch your TV show with you. Right. Bottom line is, if you missed measure or picked the wrong color, they're going to make your blinds.

[00:22:13]

They'll remake them for free blinds, dotcom. You can get free samples, free shipping. And with new promos that they run every month, you're going to save even more. Use the promo code, Ramsey, to get the best deal. Of course, all the rules and restrictions apply. OK, Ken, what's the blinds dotcom question today?

[00:22:31]

It's from David in DC. He writes in on Dave Ramsey Dotcom and says, Because of covid, I was placed on long term paid administrative leave, but because no training is being conducted, my pay is staying low.

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I have the dream job and it will bring the amazing income once I finish training. So resigning this job is not on the table, but. I'm tight and I need extra money and I need to boost the income. Is it moral to get a job somewhere and then walk away once I get recalled? Now, I love this question, Chris, because this is coming from a very high integrity person who's got a great heart and he's going, all right, I'm in a situation where I'm on paid leave.

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Right. All right. But it's not enough money. He's made it way less because he's not getting the current training. He's got bills to pay.

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So he's got to work. Absolutely. But he's going to wait a second. If I go get a day job right. And then they call me back three months later, am I a jerk? This is what's not written here. But that's what he's wondering. And it is not a moral issue. This is not about integrity. This is not about morality. This is reality. And the reality is you got to work and all work is honorable and the reason you're working is very honorable.

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So here's the deal. Assuming that you're paid administrative leave, doesn't have some type of conditions, that it is not some sort of conflict of interest. That's true. So that's the giant asterisk there. OK, yes, go get a day job and you don't need to tell them everything. Just go look, I need work. That's the truth. I can help you. That's the truth. And if you get called back three months later, you tell them, hey, I've got another opportunity, a better opportunity, got to do it.

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So there's you don't have to have this big, long disclosure statement. And you're not this immoral, dishonest person. Right. Because you got to get short term work.

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Yeah, no, you've got to communicate. I agree with you. I think being up front, communicating clearly, you don't need to go through all 48000 details and then work and do your job while you're there. But you got to feed your family. You got to do the things that are necessary, which are really, really important. OK, real quick, let me tell you this. This year has taken some crazy turns. We're all been faced with new challenges, but with challenges come opportunity.

[00:24:45]

Now's the perfect time to make the change in your life, to step in and help people make your dream business a reality. And maybe you have the goal of starting a business to bring in some extra income to your family. But 20/20 is slightly likely derailed that well, you can get back on track at the first ever business boutique conference, Lifestream. You'll get everything you need to know about working on your business. This event is primarily for women that are looking to start a business or grow a business.

[00:25:14]

You'll hear from Kristy right myself. Elisabeth Hasselbeck, Annie Uptown's Lisa Buffier, Gigi Butler, Jamie Curran Lima and Kelsey Humphries. This event sells out each year and now we're going to make it even easier to attend by adding a virtual audience joined the live stream October 22nd through 24th for as low as 129 dollars. Don't let 20-20 sidetrack your dreams. Go to Dave Ramsey Dotcom slash events to get your livestream tickets. Coleman, I have to break out my skinny jeans for that event.

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Oh, yeah. Well, let's listen to what you feel.

[00:25:46]

You need to do that. Well, I just I needed you to question the fact that you think I own skinny jeans.

[00:25:51]

Well, that should have been the first flake out of your mouth.

[00:25:53]

Well, because here's what I thought is what most people who know what you look like. I thought those are huskies for my huskies are skinny for you. So you don't they don't make skinny jeans for men years.

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First of all, I'm going to go way back and take a flash in the pan. Tough skins. You remember those jeans? Let me tell you something.

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Not only do I remember tough skin, but I wore them with Zip's. Remember the little tennis shoes. Listen.

[00:26:17]

And then when I when I would do the carpet burn and get a hole in the knee, Kelly Mom would not go buy me a new pair of tough skins. She would get a patch. Yes. And by the way, they bought him four sizes too big, so the cuffs went right below my knee. Here's the thing. I don't know what kind of denim it was made out of. All I know is I never folded mine. You took them off.

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They stayed standing. That's how strong this denim was. Yeah. Yeah, it's amazing. We survived.

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It's well, no, we did survive. That's the whole point. They're made of Kevlar. Yeah. These kids want a new pair of jeans every year. We wore jeans that were effectively bulletproof.

[00:26:49]

They're spoiled. Arkoma, listen, I'm going to hit you with this other job question. Jerry from YouTube wants to know from you, I'm having problems finding a new job. I quit my job and nobody's willing to hire me. I don't do drugs. I don't drink. I'm very loyal.

[00:27:04]

My last employer, I was there for sixteen years and I have a great personality and attitude. Help me.

[00:27:13]

Well, now, Jerry, this is this is tough when you get a social media question, because there's a lot of unanswered questions I've got in that statement. But let me tell what Jerry's challenge is. Jerry's got a lot to offer, but he has no idea how to offer it.

[00:27:28]

Oh, that's not going to sum that up. OK, let me let me unpack that. So Jerry's telling us, listen, I don't do drugs, so I don't drink. I was very loyal. Nobody cares. Let me Jerry, let me tell you, whatever he cares about, they care if you can help them win. That's it.

[00:27:46]

And so the problem is, is that you are applying for things and they don't know who you are.

[00:27:53]

He's got a great attitude. Personality. Well, he he might. But guess what, they don't know that because he can't get an interview and the reason he can't get an interview is because he's going about the wrong way. And I call it the resume lottery.

[00:28:04]

Now, if I go down to buy a lottery ticket today, not only will I have to clean out my desk, but I will scratch that off and I will just be taking this wild chance that I'm going to win. OK, it's silly. It's ridiculous. It's just stupid. Well, this is what people do with jobs. They fill out 50 resume 50 applications and they submit their resume and they just hope that somebody looks at it and they like them.

[00:28:27]

Well, guess what? All those wonderful things that Gerri believes about himself and I believe they're true, they don't know that when they read a resume. Now, this will blow your mind. Those of you watching on YouTube, I want you to picture a hiring manager doing what I'm doing right now if they even get your resume. Mm hmm.

[00:28:43]

They spend seven point six seconds on average looking at all those wonderful things about Jerry. Do you think Gerry's got much of a chance when Gerry doesn't have a connection? Did you say seven point seven points? That's a glance, COLEMAN Well, that's what you ran the 40 in.

[00:28:58]

But the point is, is that you just absorb that.

[00:29:03]

Don't hit me. We're live right now. Oh, I couldn't resist. Absolutely. I couldn't resist. Go ahead with your all.

[00:29:08]

Now, while Cogan's run in the 40, they're trying to make a determination on you. So a resume without a relationship is worthless. That's why you need to go to Ken Coleman Dotcom download the three get hired guides. One is the resume guide and we have a template. But here's the point, Terry and everybody else. You've got to have a relationship in that building. Who says Jerry's awesome? They hand your resume and that's how you get interviews and that's how you get jobs.

[00:29:36]

Jerry, you got this, buddy. Let's just get real and people out there. Let's make it stand out. This is the Dave Ramsey Joe. Welcome back, America. This is the Dave Ramsey Show co-host. With me this hour is Chris Hogan Ramsey, personality and number one bestselling author of Everyday Millionaire. I am Ken Coleman Ramsey, personality, host of The Ken Coleman Show. He hosts the Chris Hogan Show on the Ramsey network. So we're excited that you have decided to join us and you can join the conversation.

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8255, 2005. That's Triple eight eight two five five two two five. We're going to take your calls on money. We'll take your calls on life. We'll take your calls on your income, your job, your career path, whatever you got.

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We are here for you. It is your show. Chris Hogan, always fun to be together. I don't know if you noticed. I'm a little scratchy today because high school football is back in the great state of Tennessee. And last night, big win for one of the Coleman kids team. And I got a little excited. I want people to know I was not yelling at the referees. This was just all encouragement and cheer nation.

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OK, well, that's good. Yeah, don't believe that 100 percent. But I do believe your heart is telling you the truth.

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I'm telling you, it was all good.

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You have issues, Coleman. You have competition issues. And I know I listen, if you're out there and you've got a question, us Ken told you the number eight eight to five, five to five. Let's jump on the phone here. We got Chris on the line. I really like you, my friend. What's your question?

[00:31:24]

So my wife and I have listened to send out for a couple of years. At the end of 2014, we had been able to save up and we paid off about twenty five thousand dollars in credit card debt.

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Fantastic. Yeah. So at the beginning of this year, we had decided based on a little bit of money that was given to us from some of our tax refund and then a bonus, we were going to go ahead and pay off one of our car loans, as we said, with the baby step. Well, as soon as the money came in, she were she was furloughed for about six weeks. I was put down the part time. We both working now full time, but our jobs are in limbo again.

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So here's my biggest fear. One is, yeah, we have the money. We have about fifteen thousand dollars that would cover one of our car loans. No problem. But if we do lose our jobs or put down the part time or something, again, the thought of us not having that money and going back into credit card debt to pay bills makes me sick, I can imagine.

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So why are you saying the current jobs are questionable? You just got them. We've had our jobs. What I'm saying is she she was furloughed right back at the beginning of the year. She's working full time again. OK, my job now. Are you full time again?

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Yes. OK, so what Chris is asking you is, is there evidence, Chris, that you guys might get put back down into part time or furloughed in the near future? Or are you just worried about it?

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A little of both, we've seen some some other people in both of our jobs here that have been just let go totally. All right.

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And so how much is left in savings of the bonus and stuff originally? So right now, we have about 15000. OK, so here's the deal, why don't you do this? You still have the two car loans? We do. OK, so here's what I do. You guys have been on the jobs. Let's work another month, OK? Make you guys sit down and talk about it. Let's go another 30 days. If your income is safe, you're OK.

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Let's pay off the car.

[00:33:38]

OK, OK, because what I'm telling people is if your income is stable, keep stepping, that means keep working the baby steps if your income is iffy. Right, or it might get cut or trim back, then you go into conserve mode. But you are you've got PTSD from the wife's job.

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And let's also say this. You've just put a scenario out there that should not even be entertained and quite frankly, does not have to be entertained. And that is this. If she gets furloughed, if he were to get put back to part time, he said we would have to pay our bills with the credit card.

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Now, wait a second. Whoa, whoa. Where does that reality come into the picture? No, you go work two or three stinking jobs. That's right. And you don't rely on credit cards to pay the bill. So and I'm not getting on you, Chris, but I want you understand, when you put an option on the table, like we may have to use credit cards, it gets really bad to pay the bills.

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Guess what? It actually it actually becomes an option. That's right. As opposed to going it's not an option. So I just want to put that out there. You've already given you the practical advice, but I want to speak to the mental side of this thing because when we focus on the negative. Mm hmm. Instead of the positive, we start to think. And act on the negative thoughts is OK. Oh, my gosh, I can't pay off debt now because I could lose my job.

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So we just got to be very careful there. That stinking thinking.

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No, it is a zig zag told us, I think, of thinking Ziggler. And so, again, let me reiterate for everyone out there. If your income is stable, then you're going to keep stepping. That means you're going to keep working whatever baby step you're on. If your hours get cut, if you get furloughed, you get laid off, that what you're going to do is going to conserve mode. That means you would pause attacking debt.

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You'd still make payments on stuff. Right. You're going to pause that until you get your back up on your feet. And once you do that, then you want to continue to move forward. This is really, really important for people to understand. And let's see. Let's get over here. I got Sebastian on the line. Sebastian, how can I help you?

[00:35:42]

Yes, sir. I am currently working on the baby steps. I believe I'm between one and two. I have about ten thousand dollars left to pay on a car loan. Now we know that your situation is don't get into car loans. But I got into it before I ever found Dave Ramsey. So don't hate me. Are you sure it was before?

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Yes, sir.

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All right. All right. That was a problem. But I've been listening to the podcast and things of that nature religiously. OK, go on to get rid of my debt. Overall, I have about 7000 dollars saved my bank. And secondly, overall, I don't have any other debt other than my car loan. OK, good. That's that's that's the only thing. So what's the question? So my question is the car that I'm currently in is a problem for me because my girlfriend's got two children previous relationship and I have one on the way.

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Car that I drive is a sedan can only fit fit three car seats across and I'm looking to spend my savings to get into something that's not going to leave me on the side of the road. But I don't know what. What does she drive? She doesn't currently drive anything. The vehicle that she had previously has brought down her, OK? And I got into a vehicle that I have currently because the vehicle I had prior left me stranded on the side of the road.

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How much how much do you own the car you currently have at home and how much is it worth?

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Actually, currently I owe 9000, 999 and change. So the pay off with interest is about 10000 to change.

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What's it worth? Yeah. Yeah.

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So I got an appraisal through CarMax. CarMax is saying that they would evaluate it at 10000 and I could pay it off completely and just get into something that could pay cash when I eliminate the debt all the way.

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Yeah, it's I'm sorry.

[00:37:44]

So you must have a bad connection because you just suggested that you take your little car back in there and get a different car loan for a different vehicle. Is that what you're asking me? No, no, no, no, no, pay it off, here's the deal. OK, here's the deal. Listen to me, OK? Don't don't don't reason yourself into I got to get a minivan that I can't afford. Don't reason yourself into that.

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That's where he's going. Here's the deal. You got seven grand in the bank. Your car is worth ten. Supposedly sell it. If it's worth ten, get the ten and then go get yourself a minivan for four. It's got a lot of miles on it. Duct tape it. Listen, we got families out there in the lobby. They're shaking their head. I'm right. Oh, yeah. Listen, who cares what children in the lobby right now?

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You listen. You just go get a whoopty minivan and take the extra money left over, deal with it. And that's your emergency fund. Now, here's a good McKerrow. You you are such a coward. Why? It's because here we go. First and foremost, Sebastian, get down to the justice of the peace. Get the I do we do certificate, get married.

[00:38:54]

If you're going to be in this thing together, then let's do it. You got a baby coming. That's the bottom line. That's what you need to do. Oh, yeah. Get that handled. Then y'all can start to talk about these financial things that you need to get done. All right. Listen to me. Thank you, everybody for calling in. I want to thank James Childs, producer, associate producer Kelly Daniel, and, of course, all of you for tuning in.

[00:39:14]

And I want to thank my co-host, Mr. Ken Coleman. We have had a blast hanging out with you this hour. This is The Dave Ramsey Show.

[00:39:43]

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. If you're looking for fun and practical ways to save money in your everyday life, you need to check out The Rachel Cruise Show, a podcast from money expert and my daughter, Rachel Cruze.

[00:40:11]

Hey, guys, it's Rachel Cruz. And I'm so excited to tell you about my podcast. A lot of people are living paycheck to paycheck. They're in debt. They don't even know where to begin. But they have this need this want to get in control of their money. And if that's you, you have come to the right spot. So in each episode, you get a ton of inspiration and practical advice. If not, subscribe to the Rachel Corrie show podcast.

[00:40:34]

Make sure you do it today.

[00:40:35]

Hear more from the Ramsey network, including the Rachel Cruz show wherever you listen to podcasts.

[00:40:41]

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.