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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. Cash is going in the paid off a mortgage has taken the place of the BMW as the start of some choice. I'm Dave Ramsey, your host. My co-host today here on the air. Ramsey, personality number one. Bestselling author Chris Hogan is with us, the voice of the millionaire in America today, open phones, triple eight eight two five five two two five.

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You call in, we'll talk to you about your life and your money right in front of you. The phone number eight eight two five five two two five.

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Starting this hour is Dallas, Texas. Valory is with us. Hi, Valerie. How are you? I am doing to leave when people come to my concerts. I'm good to talk to you. How can I help? I'm just hoping and having trouble understanding you.

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Can you speak directly into your phone, please? Yes. I couldn't help but a little bit. Yes, I am.

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Did your program and did your show and your whole program about two years ago. And I am never going there. No good. And so yes. And I have no debt, but I have now let my loosened my reins quite a bit and I've let myself fall back into debt. And it's the kind of debt I have sort of rationalized to say that it's OK because it's debt that's ultimately earning me money because it's it's debt on my rental properties, because I own a lot of residential rental properties and now I've taken on debt off of those properties in the form of hillocks to either improve the properties or I've bought another property on one of using one of those hillocks.

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You're not using our system at all. Why are you calling us?

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Well, because I was using my system and I, I want to use the system for my debt, but. Because you helped me before I become an everyday millionaire. What happened? Why did you go backwards? What happened?

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Well, it's basically because I wanted Picarello. I was trying to grow my business, my residential real estate business. And the only way that I could see to grow it was to take on some debt and then use the rental income to pay off this debt. I got you understand what's going on. And you went back to being normal.

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So I'm still I'm still back to my point. How can we help you today?

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Are you tired of being normal or you want to go back again?

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Well, I am I am tired of I'm tired of carrying the debt.

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So sell the rental properties. And I, I know I should sell a rental property, but I hate to sell it on my valory. We can't help.

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You know, we can't help you. Yeah. Wants to be out of debt but doesn't want to sell the property.

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Listen, you got to do you've got to decide which are you a horse. Are you OK now you got to decide.

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OK, you can't be both. You can't, you can't be there's no house and there and there is no inbred version of the two.

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OK, so just decide what you is or what you isn't and then you decide what you want to do. I decided what I asked.

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I had a never again moment 30 years ago when I went bankrupt and lost everything. And I said, I'm not borrowing money more.

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I want a bunch of rental property like a lot with a capital, a lot of rental property. And I bought it slowly and with cash. And you have to decide what your goals are. And I determined deep in my soul that borrowing money was not the shortest path to the kind of wealth that I wanted to have, which had peace, not stress and anxiety attached to it. Valerie, you have not determined that.

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And I'm not going to argue with you know, you can't. And here's the thing, Dave. I remember in grad school they would teach us about leveraging OPM, other people's money. All of these were fancy ways, Valerie, to teach you about debt. And what you've done is as you brought stress and strife into your life, thinking you have a real estate portfolio, what you have is a debt portfolio. And so what I would do if I were you, when you get tired of losing sleep and get tired of being stressed out, you call and a real estate help you get comps on those rental properties and you put them on the market and you pay off those he locks and you get them out of your life until you save up some cash and you buy real estate with cash.

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That's the only way to do it.

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Are clear enough of them that you clear one or two. You're right. But let's get the debt gone, kiddo.

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And you know, you can't call over here and say, hey, we believe in everything you say to do, but I'm not doing any of it.

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I was at work. I was waiting on the conjunction days. No, I've learned to the but the or, you know, all of it. It's coming and it's that right out of the coma.

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It is. And it cancels everything before the set. That's right.

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It's Yeah. Everything but Valerie, get your life back young lady. Get it back. You've bought into this fictional late night TV real estate program that's trying to make you rich quick. And what it's going to do is make you broke fast.

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Yeah. Yeah. You just got to decide. Yeah, you really do. And you know you know what we're going to say.

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You knew that when you called here and I'm not going to argue with you about is this an OK thing? It's not an OK thing as far as we're concerned.

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You knew that. You knew that. So you decide what you want to be. You know, we're right. You're wrong.

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Weston is here from Houston, Texas. Hi, Weston.

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How are you? Hey, how you doing today? Great. How can we help? Yes. So just a quick, quick background on me. My wife are both twenty six and one baby steps for five and six. We are expecting our first child in November. Congratulations. Well, thank you. We're really excited and we are going through all the medical bills that, you know, that have to be paid once the baby gets here and it looks like we're going to have to pay about three thousand out of pocket.

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I got an HSA through my work that's got about fifteen hundred in it right now, so it can't cover it all. So we're just trying to figure out if we should use our HSA for medical or I got more than enough money to pay for it out of pocket. Should I just use out of pocket expenses? What's your household? And it's about 95000 combined. Either one is fine.

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Obviously the HSA is tax free. Money is used for an expense. I'll tell you what I have ended up doing and you can consider that, which is what you're considering. I have ended up not using my HSA for medical. I just paid him for my medical knock on wood. I've been fairly healthy. Our families have been fairly healthy. And so I just keep fully funding the thing every year. And there's like 300000 bucks in the thing because I start doing it back when George W.

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put it in place the first time. And so I have been using it as an additional investment account, and I've just paid whatever medical that came up out of my pocket as I've gone along. But either one is fine. It's certainly what it's designed for.

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Yes, sir, and that's why we kind of went back and forth since we did have the money out of pocket, but we also had the HSA, we were going back and forth whether to just let it grow and just pay it out of pocket.

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And then the other thing I can kind of understand, you know, the other thing I kind of thought was if I ever had, like a huge medical event, I'd rather have the HSA sitting there for that where I could cover something like this out of my pocket. Uh huh, yeah.

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The nickel dime thing here, I mean, maybe it's not nickel dime, but 3000 bucks on a 90. Right. Diet. Yeah. Let it grow.

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I probably I probably leave it alone because you might need it for something big someday. And if you don't, it's a great investment, right? That's right. This is the Dave Ramsey Show.

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During these crazy times, the best advice I can give you is control the controllable. Let's start looking at major expenses like your monthly rent or your house payment.

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Folks, mortgage interest rates are so low, now is the time to invest in your future. In just 10 minutes, my friends at Churchill Mortgage can share ways to save you serious cash through a smarter mortgage plan to speak to a specialist call triple eight, loan 200 or go to Churchill Mortgage Dotcom. This is a paid advertisement in MLS Idee one five nine one in the Midwest. Consumer Access Dog Equal Housing Lender 1749 Mallory Lane Sweet 100. Brentwood, Tennessee three seven zero two seven.

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So we've talked financial peace university classes since 1994, and the vast majority of them, over six million people have gone through the classes. The vast majority of them over that period of time in 50000 churches with some 40000 people, have been coordinators leading the class.

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And in the old days, the coordinator would, you know, operate the VCR later the DVD and put the chairs in a circle and talk to people and lead them.

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These days they're doing it virtually. And these coordinators are heroes.

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They have had a front row seat to people changing their lives and have also been instrumental in people changing their lives.

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Because you can talk at somebody through the TV on a DVD, like I do, or you do this. But it's a whole different thing when you look eyeball to eyeball, kneecap the kneecap with them and are involved in changing their lives.

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And so we're going to honor a couple of coordinators through this week just by talking with them and honor the position and just say thank you. And the first one up on that subject is Heather Donovan from Jacksonville, Florida. Hey, Heather, how are you?

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Hi, Dave. Hi, guys. Hello. Hey, thanks for leading financial peace university classes. We appreciate it. Wow. It's really my honor. And thank you for all that you guys do and serving others to teach this this wonderful course.

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How long have you been doing been an FPU coordinator?

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I have been a coordinator for about four years, but personally went through it about 14 years ago and had such a calling on my heart that I was like, I've got to serve in some way to teach this to others. And that's how I got started. Cool, cool. So, you know, you're probably like me if you've been doing it that long.

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The stories of people's lives being touched her everywhere.

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Aren't they everywhere? Yeah, it's truly amazing. There's one stick out to you over the years.

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Absolutely. I mean, honestly, the very first FPO class that I taught was a single mom, and it literally started with one student. And I was like, you know what, God, I'm going to serve this person to the best of my ability. And she's the person that needs to hear this today. And so that's what I did. And literally, she's a single mom struggling to make ends meet and have a great job. And I just walked through that season with her and just gave her the hope that she could find a better job, that she could make more money.

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And she I mean, just get amazing. She soaked it all in. She listened. She followed the plan. She submitted to the idea, you know, that what she was doing, you know, wasn't working. And within two years, I got a text that said, hey, guess what? I just bought a new home for me and my wow. And I you know, I've got a better job. And God opened up doors that I never thought possible.

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And I've just I cling to that. I'm like, you know what, thank you, God, you know that that I get to serve and show others how to do this because it's personally changed my entire life. I have such a passion.

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You can hear it in your voice and it amazing as you're doing it. You can literally see the light bulb go on and you can see people get open their eyes. And it's amazing to see how it really is.

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It is. And it is just been is just such an honor to walk through this with people.

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Well, I want to tell you something. I want to personally thank you. That single mom and I'm sure countless others were on the receiving end of you extending your hand.

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And that's exactly what we have to do. We've got to extend a hand to reach back, reach forward, reach out to people and just connect them with that information. And you listening to that single mom and hearing her concerned, but at the same time pushing her. You were half cheerleader, half coach, weren't you?

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Absolutely. Absolutely. That's fun. Have you led one of the new virtual classes yet?

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I sure have. I actually have been doing it for several years. So in my old life, I and I see I was used to doing kind of the virtual meetings and everything. So it was just a natural progression for me. So yeah, I have an actual few virtual class that starts tonight, as a matter of fact. Oh, very cool. Good.

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Yeah, that's fantastic. So Heathered, you've done this. I'm sure you now know how easy it is to do. What would you say to someone out there that's feeling the desire they want to help. They know there are countless people out of work right now. Families are in crisis and they want to help tell them how easy it is. The. Be a coordinator. It is just as easy as reaching out to the Ramsey solutions and say, I want to coordinator for your class, they make it super easy to sign up.

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Everything's online at your fingertips. It's easy to, you know, utilize the tools out there and social media to get people to sign up. It couldn't be easier and it's just so fulfilling and so life changing, not only for those people, but you're helping, but also for yourself.

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Mm hmm. Absolutely. Heather, thank you so much.

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Thank you for who you are and all the people, all the lives you've touched on and just just put yourself out there like that. And, you know, that's a cool story that the first class had one person. Yep.

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And I've walked into a room, so to speak, and there were supposed to be hundreds and were still working over the years. I've had that happen.

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And I just just lay it out there like I was doing it for 100 circle of the chairs. You never know. That's it. That's right.

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I actually didn't do the full speech. You're right. I would sit down, do this, do it in conversations. Right. If it was just a handful of people. I've done that. I've been put in those situations over the years. And it's just it never fails that some one of those couple or one person that's sitting there needed that more than anything. And that whole lady's life was changed because of Heather.

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I'm going to tell you, if you're at home right now and you're feeling that burden, you're feeling that push to do something, what can you do right now in the face of all the things that are going on? I'm going to tell you right now there is something you can do. You have an opportunity to plug in to become a coordinator. They've got they got to do well.

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It's a virtual class. All of them are virtual right now and are virtually all of them are virtual Durata. You hear that and do that. But, yeah, it's most of them are virtual and and they're actually easier to do because you don't have to, you know, unlock the door.

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You have set up chairs. You don't have to try to make sure the front lobby has the lights on and all that kind of stuff. And there's always when you're doing a physical location, there's always complications. But there's there's there can be technical complications with the virtual. But they're they're just really easy to do. And we'll show you everything you need to do so you can lead with confidence.

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We've been doing this a long time and we can show you exactly what you need to do so you can have the benefit, like Heather did, of helping helping people do this. People need help. Right now. There are 16 million people out of work and a lot of them are ready to say never again, I'm never going to be here again. And they want to know the steps to take to never be there again.

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So if you want to join our growing community of coordinators, just text unity to three 789. The word is unity. One word you in.

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Why text that two, three, seven, eight, nine.

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And our guys will get right back with you and help you get going, help you get a class set up. And of course there's a lot of people joining Ramsey Plus and Financial Peace University is an element of Ramsey plus and every dollar and the baby steps up and all that stuff and they they need someone to answer the fake use the frequently asked questions. I need someone to be in their corner and encourage them when they're sad and struggling and bust on them a little bit lovingly when they're prideful.

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That's right. But and some of you know the answers to all the questions you've been listening to. Show your you play beat Dave to the answer when you ride along in your car. And here's the deal, though.

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If you don't know the answers to the questions, you don't have to remember the lessons are taught by Dave Raichel and myself. So you don't have to teach. What you're doing is coordinating. You're facilitating and helping people to be encouraged to have the conversations and you're going to be able to point them to the place to get the answers.

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Well, thanks again to people like Heather Donovan. There's some 25000 of them over the years at any given moment, ten or twelve thousand and coordinators leading out there. We need a lot of help this fall. There's a lot of people joining Ramsey plus right now. So text the word unity to thirty three, seven, eight, nine. That's unity. Two, three, seven, eight, nine. This is the Dave Ramsey Show. In the lobby of Ramsey Solutions on the debt free stage, joining my co-host, Chris O'Brien and I today is Ronnie and Belinda from Greenville, South Carolina.

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Here tonight, that prescreened baby. Welcome, guys. What's up?

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No. Glad to be here. Well, we're honored to have you. How much have you paid off?

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We paid off just about thousand dollars. So how long did this take? About three years.

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OK, and your range of income during that time started at about 125 and got up to about 175.

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And what do you guys do for a living physical therapist? Both of you. Both of us.

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Yeah. All right. You got great practices. Very well done. Thank you.

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Well, what kind of stuff did you pay off student loans?

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Yeah, I was going to say about five hundred dollars in credit card debt and about 200 9500 in student loans.

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Wow. OK. Wow.

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So a couple of Petey's had to get their diploma out of hock.

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That's right. That's right. Above it. All right. So who decided to get serious first between the two of you?

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Well, I think probably me first just because we graduated from different classes. So when I first graduated, I moved in with my parents and they kind of got me on the envelope system. And then when Ronnie graduated, we both knew we wanted to get married and we started doing the Dave Ramsey way before we got married. And then you talk about your living.

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Yeah. Oh, yeah. Basically the same thing. When I graduated the next year, I just kind of jumped right in on the same plan, which made it a little bit easier in some ways because we just stayed on the same budget, you know, like we were students and just kind of kept going. So we got everything paid off, OK. Very good.

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Ronnie, actually, we're kind of a second job on the side.

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When he started working for he got kind of this deal where he would work on the weekends and they would help pay for his rent.

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So that helped him save a lot of money and get ahead. Very cool.

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So, Belinda, your parents were financial Peche parents.

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They love you. Yes. OK, you're your financial piece, baby. You marry into the thing. OK, second Jan here. All right. Very cool, you guys.

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So you really never knew any big lifestyle that you had to cut down. You just said we're going to keep living like college students to clean this up. And you're about 70 grand a year goes away average over three years.

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That's right. That's right. Howdy. Yes, it is.

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I mean, you're out there making serious money and you're contemporaries. You came out of high school, are still sitting on the same amount of debt that they were three years ago. They paid off none of it. Right. And they're and they were calling you crazy. Some of them probably were, maybe not to our faces.

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But I mean, it's just tough because, you know, like with physical therapy now, with a lot of other medical field type professions, you just go to school for longer and longer and longer. And there's that delayed gratification that when you get out of school, there's that impulse that, well, now it's time to to take the next step. But if you have a lot of debt, you know, it's hard to justify, you know, that lifestyle.

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Belinda, what was the biggest sacrifice for you?

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I think for me, just that delayed gratification of, you know, getting a house, you know, sooner than I had anticipated because we're still renting right now. And but we know that's coming soon. So I think that's the biggest challenge for me. That was very good.

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Ronnie, what about you? Biggest sacrifice? I would definitely say the house for sure, just because, you know, there's that peace of mind that comes with owning your own property. But definitely renting is a little bit easier if you can know that you are tangibly working towards a goal that you're getting to pretty fast is temporary.

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And you can walk through anything as long as you're looking the other side of it. That's right. Yeah. You guys are young, too. How old are you?

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I am 31 and 30. OK, as of Friday, she's thirty.

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Birthday is very good. So very cool.

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So what do you tell people when they say, oh, you did the impossible, you paid off 210000 dollars in three years.

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You're weird, you're impossible. That can't be done. What do you tell them?

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The secret to getting out of debt is because it's not really a secret, I would say for me and then, you know, whatever you think. But I would say for me, you've got a number one see success early. So, you know, you can't be frustrated that it's not all gone in one month because that's not going to be the case. You know, it took a lot longer than that to get into debt. So it's not going to go away that fast.

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And then also, too, I would say you have got to be proactive about seeking out your own opportunities. You know, along the way, you can't just say I'm going to wait for good opportunities to come my way. You have got to really be proactive about seeking those opportunities out. Hey, man. Yeah. What about you, Belinda?

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I think just staying disciplined and I think it was really good because we celebrated along the way. Like, every time we get 10000 dollars down, we would, you know, do something to celebrate. So it just made it go by a lot faster. Just seeing the light at the end of the tunnel. Yeah, so other than your mom and dad with the envelope system, to what connection did you all have with us?

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I've gotten a lot of your books as Christmas gifts, so they're subtle.

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And we also got a I mean, we're already kind of doing Dave Ramsey before we got married, but we did get Financial Peace University for our wedding as a gift.

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You're becoming more and more popular in the physical therapy world. Yeah. See, those students come out definitely wonderful.

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We're big fans of that world. That's a fair trade. Very cool. Well, congratulations, you guys. I know your mom and dad are very proud of you. We're proud of you. Way to go, hero. You took control of your life.

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This is an amazing thing you did. And if you can do this, you'll be able to do anything financially. If you live like no one else later you can live and give like no one else. That's right.

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So we got a copy of Kris Hogan's book for you every day, Millionaires', because that's the next chapter in your story for sure. You're on your way to not only homeownership, but to being in an incoming 10 years from now. You're going to be sitting in so, such an incredible place financially.

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Well, one more thing I wanted to say kind of along those lines, too, is I think with student loans, especially in our generation, there's a lot of disappointment coming out because you feel like your big mistake that you made was you went to school, you know, you studied, you took the test, and you come out and you have that debt. And people sometimes feel like their only avenue for getting out from it is these, you know, work service, forgiveness, you know, non-profit sign up 10 years of your life and hope that they can't sort out for you.

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And this way really is just, like you said, such a more reliable method of taking control of your own destiny, not waiting 10 years to see if, you know, someone's going to forgive you of loans. And it's just a much more freeing feeling. I feel like then I'm just waiting for that.

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I can tell you for sure that Ronnie and Belinda are much more reliable way of getting out of student loan debt than the government getting you out of your student loan debt.

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That's right. The government can't find it.

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But with both hands, I mean, you guys are incredible. Well done, you guys. Very, very well done. Absolutely incredible.

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All right, Ronnie and Belinda, Greenville, South Carolina.

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Two hundred and ten thousand dollars paid off in three years, making 125 to 175, came out of school and just kept living like they were in school and did it.

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Baby counted down a Jaradat. Pretty grim, three to one where debt free. Well done, you guys. Oh, very well done, man, that's incredible.

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That is exactly exactly what you do.

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That's right. So anybody sitting out there with student loan debt and you've heard your crazy family or stupid friends tell you it's not possible, our stupid family or crazy friends, either one.

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But you just heard you've got a 30, 30 year old, 31 year old Ronnie and Belinda got rid of 200 and nine thousand five hundred dollars worth by just buckling down and being intentional. And that's how you do it. You make a decision not just once, but every day and stick to it. I'm proud of them young people.

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And you know what? Most things in life, but almost all things in money hurt at the beginning. If they're going to be the right decision making, very few things are easy at the beginning.

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Right. So when someone says this is the easy way, you probably should run.

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That's right. Because most things that cause people to build wealth are painful today to live out later.

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One definition of maturity, emotional maturity for sure, is the ability to delay pleasure live like no one else. So later you can live and give like no one else.

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The Bible says no discipline seems pleasant at the time, but it yields a harvest of righteousness. Way to go, you guys. Wonderful job. This is the Dave Ramsey Show. Chris Hogan Ramsey personality is my co-host today here on the air, open phones of eight eight two five five two two five. Uday is on the line in Fayetteville, North Carolina. Hi, Judy.

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How are you? Hey, how are you doing today? Thanks for taking my call. Sure, man. What's up? Yeah. So I put myself in a bad financial spot. I ended up going to buy here, pay here place and buying a car on like August 3rd of this month. The agreement was to put down a thousand dollars and then the next time I get paid, put down another five hundred dollars and that will complete my down payment.

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Basically, I told the salesman I don't get paid until the end of the month, so I wouldn't have been able to make the payment until I get paid. Last week they came and repo the car. So two weeks after you bought it?

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Yes, two weeks after I bought it. Did you give them a thousand up front? Yes, I gave them the thousand up front. Good Lord.

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Wow. That sounds super aggressive. Well, it is. It's a total scam lot udei.

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What was the interest rate on that loan, do you remember?

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Yeah. Twenty two percent. Yeah. This Christmas.

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This was never intended to be a blessing in your life. Only theirs. Well yeah.

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So I don't know what to do. They think I can pay the five hundred dollars. Nope. Plus three hundred dollars to get the vehicle back.

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No they got all they're going to get out of. You already know. OK, you got out of it.

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You got out of a bear trap for a thousand bucks. Good luck. I mean you got, you got most one of your legs intact so you run with the other leg.

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Man, you get away, these people do not figure out you got scammed when I did it, another car you give back at least to answer my question, did you not figure out you got scammed 22 freaking percent and you paid fifteen hundred dollars down? Or you would have. And that's all the stinking car was worth to start with?

[00:31:49]

Probably. Yeah, no time delay. Hey, no, listen, did you hear twenty two percent let it go, it's frozen.

[00:32:00]

Frozen, let it go. Run.

[00:32:03]

OK, so do you get paid 500 bucks, right.

[00:32:07]

You got you got some you got 500 bucks and 300 that you could see in your future that you were thinking about giving to these scam artists.

[00:32:13]

Right. Yeah, OK, so let me let's walk through what you do now instead of doing that, because the first thing you have to do is realize you got screwed and you don't go back to a place where you got screwed, OK? Is that fair? Yeah.

[00:32:27]

Now, the second thing is, can you scrape together the 800 you were talking about given to them a few minutes ago? Yeah, actually get paid this Friday, so how much do you get paid on Friday? It should be twenty five hundred dollars good, and how are you getting back and forth to work right now? I actually have a truck, another vehicle that I use as a business truck or truck, but you're able to use it on a personal level.

[00:32:54]

Yes, it's currently mine and I have a car note on that as well, and it needs repairs. So I got to I was going to get another car just so I could put it in the shop for it to be repaired.

[00:33:07]

What is the nature of the repairs it needs on? We need about two thousand dollars worth of repairs to engine repairs. Mm hmm. OK, and how old are you? I'm twenty seven. And what do you think this truck is worth without repairing it? Up to about four thousand dollars and I'm upside down on my own right now.

[00:33:29]

How much do you owe on the loan? Eighty four hundred. OK, you've been doing poorly with cars, haven't you? He's got car out of state. Yeah, so. Ms. And it needs 2000 dollars in repairs and then it would be worth, what, 6000 or 7000? Yes, OK. Still an 80, 400, but but it'll drive a little bit. Yes, what are the nature of the repairs it needs? Basically, they said that I needed the gasket fixed inside the engine and basically I needed new shocks and a couple of other things came out to two thousand dollars.

[00:34:19]

You've blown a head gasket. You can go without shocks a really long time and a truck doing a head job on. What kind of truck is this? A brand? It's a GMC Sierra, OK, pickup truck. I want you that the dealer give you this price. I'll give you the reporter who gave you the repair estimate, went to three different places and one was eighteen hundred. Another was two thousand and another was twenty four hundred.

[00:34:49]

Were they all dealers or were any of these mechanics, individual mechanics? These were individual mechanic. Good, good, good.

[00:34:56]

Yeah. All right. Well, I'm going to break out the sharks away from the head head gasket, OK? The head gaskets, probably the bulk of that, but they may be getting you for five or 600 bucks on the sharks here.

[00:35:07]

I don't know. Mm hmm. All right. And this truck's got some miles done, like a couple hundred thousand.

[00:35:13]

No, it actually only has one hundred and sixty miles on it. 160.

[00:35:17]

Yeah, it's kind of like a couple hundred. OK. Yeah. I mean it's got some wear and tear. All right. So let's think of a strategy that says five years from today, three years from today, two years from today, what are you in the best shape of with the vehicle?

[00:35:34]

Is it buying a car on payments?

[00:35:37]

No, we just experienced that. We do need to get the truck repaired at some point. And yes, we need to buy a car before we do that or have made other arrangements for transportation.

[00:35:52]

During the time, I would talk to one of the mechanics that's thinking of doing the repair and see if they have a car that they will rent you for the two weeks that your truck is down instead of buying a second car. OK, let's get you some kind of a loner off their back lot, that's a whoop de even if you pay them a little bit for the loner, that's better than buying a car right now.

[00:36:14]

You don't need to do that. And you get the truck repaired and let's sell it. And get out of that now, we have no debt and no car, but you buy, then you could have put together this is all going to take till Christmas, but then you could have put together a little bit of money and you pay cash for a two or three thousand dollar car. Let's get you out of the land of car payments completely. But this truck probably needs to be repaired to get the most value out of it, OK?

[00:36:41]

And I still I still have about three more years on my truck payment. No, you don't. Not if you sell it. OK, I didn't know I could sell a vehicle without you fix it and sell it, and you'll be probably a thousand dollars in the hole, you write a check for that thousand, you're out of that completely safe back 1500 bucks and get you a little beater car for cash.

[00:37:07]

And that's your first step away from this entire mess. It is not financing something at the Totin outlawed at 22 percent interest.

[00:37:14]

You got screwed. Yeah. Yeah. Udei, you're out of the car loan business is what we've just laid out for you. OK, you don't you're not going to do that. But honestly, reach out to that mechanic, find they've got a loaner car or something. You could pay a couple hundred dollars a week to be able to tell them they got to get to that gum truck fixed.

[00:37:31]

It can't sit around are two months. They put the head gasket on it, so one week job, Max. OK.

[00:37:38]

And, you know, and then you can do the shocks later or not do them and sell the truck. 160000 mile truck that drives like it's worn out is not a big problem when you're selling it.

[00:37:48]

Blown head gasket is. Yeah. OK, and this car that you're going to save up and buy for cash, this is going to be a car you're going to have for a year or two because you're going to keep saving up to be able to upgrade. But no more financing.

[00:38:01]

Odey, raise your right hand. So I promise to never borrow on a car again. I promise to never borrowing a car again if you want to be wealthy, if you don't want to be financially stressed. You know how much stress you've had in the last 48 hours?

[00:38:15]

A lot. Yeah.

[00:38:16]

If you never want to be there again, never have a car payment again, keep that promise to yourself. You don't have to keep it to me. But car payments for each year but alive man and they definitely ben-natan year but wow.

[00:38:27]

Under two percent.

[00:38:29]

Well the scam on those guys is they fully intended to take his thousand bucks is what they did.

[00:38:34]

They set him up a thousand dollars down. They went and got the going, got the car before he got paid to pay the 500.

[00:38:40]

They knew what was happening and there's was probably a fifteen hundred dollar car. A lot of times they sell the car for the the value of the car is the down payment and all the money.

[00:38:49]

They make it twenty two percent profit. And so that's a scam line. Just got it. And let's just tote the note. That's for people who've lost their freaking minds on this.

[00:39:01]

Right. It's the payday lender of the car that really is sorry today.

[00:39:06]

Ma'am, I'm sorry you lost your thousand bucks, but that's all you're going to lose if you listen to us. This is the Dave Ramsey Show.

[00:39:19]

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

[00:39:38]

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. Hey, guys, it's Rachel Cruise. 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.

[00:40:00]

And if that's you, you have come to the right spot. So in each episode, you can get a ton of inspiration and practical advice. If not, subscribe to the Rachel Corrie show podcast. Make sure you do it today. Here's more from the Ramsey network, including the Rachel Cruz Show.

[00:40:17]

Wherever you listen to podcasts.

[00:40:19]

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.