Transcribe your podcast
[00:00:23]

Live from the headquarters of Ramsey Solutions, broadcasting from the car rental. Dave Ramsey show where America hangs out to have a conversation about your life and your money. My name is Anthony O'Neal and co-host with me is the one and only national number one best seller and one of the most brilliant ladies I know, the one and only Christy right here. Hey, Chris, it is fun. Bosomy awesome. I'm excited to be here with you today.

[00:00:48]

It really is. It's going to be a great day. And if you have any questions around your money, around your life, if you're a young lady, you're trying to figure out how to start a business or if you just want some spiritual guidance direction. Christine, I would love to talk to you. Triple eight, 8255 225, triple eight, 8255 225. It'll be a fun hour. Just having a conversation with you. But I'm really excited because Christie I had an opportunity to do some shooting with you this morning.

[00:01:15]

And I'm telling you what you're doing and the conversation you're having on YouTube is it's just absolutely amazing. How have you enjoyed this new show that you have in this new journey that you're on right now?

[00:01:27]

You know, it's been fun because and, you know, obviously we do this here and Ramsey solutions, but we're always having a conversation with the marketplace. That's what business is. That's what we do. Even as personalities or authors or speakers. We're constantly having this conversation where we put something out. There might be a book or resources show and then the market responds and they say, hey, I love this hour. I need more of this or less of this.

[00:01:47]

And the pattern we've seen for the last five years of me helping women start small businesses and small businesses through business boutique is that they don't just want a business they love, they want a life they love. And so what I've seen is there's a pattern of them showing up just because they're getting help in other areas of life, like goals or gaining confidence. And so we decided to, I guess, a couple months ago to expand the show from being the business boutique podcast to the Kristy Wright Show.

[00:02:14]

And like you said, YouTube and on wherever you listen to a podcast. But it's been fun because we've kind of taken this filter off of it just being business. And now we're talking about a lot more than that. And and that's been really cool. It's been it's been fun to see how it's shown up. And and it's really helping people in a lot of ways.

[00:02:30]

And you're right, you know, I've noticed that your show is all about firing all all the ladies up to really break through what's holding them back.

[00:02:36]

Yeah, and it's not just for the ladies, because I was there today and I got to tell you, like Kristy, right. She can hold it down.

[00:02:43]

Let me tell you right now, Kristy. Right. She's not intimidated by nobody. She's going to be your face. I don't know. It's going to be a good conversation. So I definitely encourage you all. Go over to YouTube at Cristie. Right. Facebook official Christie. Right. Twitter and Instagram actressy be right. And if you go to her Instagram, you'll see her amazing family like she's such an amazing mother. Thank you, husband.

[00:03:06]

And so I'm telling you right now. But I'm excited, you guys, this hour we're going to be taking your phone calls. Chrissy, right. Is an expert when it comes to starting a business. She wrote the number one national bestselling book called Business Boutique on Helping Ladies Start a Business and what she's doing now, which is really serving ladies in general. So if you have any questions, if you're a young lady, need some wisdom around any area of your life, money, business, spiritual walk, relationship advice.

[00:03:30]

Give Christie a call. Actually, give us both the call. Chris, that may help you a lot more to me. But if you want if you want to talk about money. Yeah, give me a call, too. I love talking about money spigot, especially all kinds of stuff. 825 five, 2005. And this kick got the first phone call with Elizabeth out in Omaha. Good afternoon, Elizabeth. How can Christy and I help?

[00:03:51]

Hi, Christine, Nancy, thank you so much for taking my call. Sure. What's going on? So I am a stay at home mom. My husband and I are in baby steps six with about 91000 left to pay on our house. And I started a small business this year. And I'm kind of just I'm a future thinker and I'm kind of wondering what I should do with the profits in the future. We plan on paying our house off early, just on my husband's income.

[00:04:19]

And so I'm wondering if I should apply the 6000 first of profit towards a Roth IRA and then put the rest towards the house or what? What would you guys recommend? What's your business? I am a CPA, so I prepare tax returns.

[00:04:36]

OK, cool. What are the ages of your kids?

[00:04:39]

Two and four. And I don't know if we'll have any more, so.

[00:04:44]

OK, well, the reason I ask is because what's interesting, Elizabeth, is you have permission for your goals to change. You know, I think a lot of people do this, Anthony, where in January we set New Year's resolutions and we kind of expect it to be this, set it and forget it thing in life or business or even in our finances. And gosh, if this year has taught us anything. Yes, you can and should adapt.

[00:05:06]

So the reason I say that is right now you're a stay at home mom. That is your priority. You're doing this thing on the side. You have permission in a year or five years or 10 years to grow that business. Maybe that becomes a full time thing. Maybe you want to have different goals and that you hire team members. I just want to kind of call out that you have permission to change your mind. You might apply the money one way today and differently in terms of reinvesting back into the business.

[00:05:29]

But I would say it should just reflect your financial goals. So you kind of talk a talk a little bit about that because this is personal income, as if you were working for a company. You're just going to point to your regular goals.

[00:05:39]

Right? Right. What else what are the goals you have out there, Elizabeth? As far as I know, I know you want your small business to win, but what are some of your other goals that you want to accomplish?

[00:05:48]

Well, and actually, Christie spoke on that. I'm hoping that once my last child is in school that this becomes a full time job for me. But really, my husband and I, we love to travel and we want to be financially set for the future and just be able to be there for. Our kids are already investing in their colleges. He's already putting money into retirement. But it's just more of what do I do with my extra money that I'm I mean, it's our money, but from this business that we're not living on at all, what should I do with that?

[00:06:21]

I think from the money perspective, I think you sit back and you have an honest conversation with your husband, say, hey, listen, what are our goals together? OK, so here's your amigos, Elizabeth, and here's my goal husband. And if we combine those goals together and then really I don't really believe in this is my money. I made it over here. This is your money. Matoba is like, hey, this is our money.

[00:06:43]

And so what are we what are we doing together to go towards the goals? I believe on baby set number six, you are already financially in a good place. That's right. For so America listening right now, baby. Step number six is she's paying off the home early. Her husband have saved up to where she's going to pay off the home early, got 91000 dollars left.

[00:07:01]

And so if that's a goal to be debt free in the next year or two, as far as with the House, that extra money needs to go towards that. If the goal is to enjoy it and take a vacation, then that money should go towards that. You're in a healthy place to where, like Kristi said, you could change.

[00:07:17]

You know, you could do whatever you want to do as long as I believe both you and your husband are on the exact same page.

[00:07:25]

Yeah. And I would say one thing, Elizabeth, too, and this is very specific to the season you're in right now, just like Anthony saying. So this 6000 that you just referred to, that is your income, that is your personal income from running the business, which you have no other goals for the business right now. You have no other expenses for the business. Let's just fast forward 15 years and say you're running a full time business and you've got six thousand dollars and you've got two team members and you're not sure what to do with it.

[00:07:50]

Well, I would say if you don't have an emergency fund, just like you do in personal, you need that for your business. You don't need it right now because you have your expenses or let's say you're looking to hire someone in the next year. You would want to put that in savings to save up for hiring, for additional equipment, things like that. So that money could like you said, you talked to your husband, go back into the business.

[00:08:08]

But if that's not a priority right now, it's your personal income. So, yeah, it can change. It really can change.

[00:08:12]

And this from Matt. Thank you so much for calling me Elizabeth. You know, America is working. We're doing a whole hour, Kristie. Right. Just give it some real good knowledge about around ladies and starting a business. I'm telling you.

[00:08:23]

Let's check her out on YouTube every Tuesday Kristie. Right. We'll be right back. I think you know where I stand on timeshares by now, no, they are not investments. If you're in the unfortunate position of owning one call timeshare exit team, they will go to bat for you when the timeshare turns you down and when you hire timeshare exec team before the end of the month to exit you from your timeshare, they'll give you a huge savings for paying by cash check or an auto draft call eight four four nine nine nine exit or time-Share exit team dotcom.

[00:09:25]

Some exclusions apply see site for details.

[00:09:40]

Sitting in the studio with me is number one national best selling author Kristy. Right. My name is Anthony Onu. We're taking your phone calls this hour. Triple eight eight two five five two two five. Any money questions? Any life questions? We would love to have a conversation with you. So YouTube. Good to see you. I'm watching you all right now.

[00:10:00]

And I've seen so many questions come across. But give us a call. Cristie, we'd love to talk to you. She actually said it.

[00:10:05]

She's like, Are you talking to me, too? Like I am? I love to. He's in there chatting.

[00:10:09]

Yeah. So give us a call so we can chat with you and help you out with your journey as well. But, Kristie, let's go ahead and have a conversation with Mary out in Pennsylvania. Mary, good afternoon. How can Christine and I help?

[00:10:21]

Hi, guys, thanks for having me on. OK, so my question is, my husband and I are barely into the baby, so we're on baby step number two right now. I do the budget usually every month and I I've worked through a budget. And then we realized that my husband was still contributing to his 401k. OK, so my question is, should my husband stop contributing so he can always bring that down to zero, taking that extra cash every month, or should I still have them contribute since I already have done the budget?

[00:10:53]

Without that in mind, it's kind of like out of sight. Out of mind.

[00:10:55]

Yeah, such a great question. Let me ask this. How much debt do you have a baby set?

[00:10:59]

Number two, right now we have about one hundred and thirty K cut cutting back.

[00:11:04]

OK, that one thirty K. What is that. Basically it's mainly student loans.

[00:11:09]

Student loans.

[00:11:10]

So when you say mainly would you said about like maybe a hundred, 120. Yeah, I would say probably about one hundred. That is student loans. And then you have about ten thousand in a car, 5000 in a car, the number like 15 in credit card. So we have it's all over the place where you get your degree.

[00:11:28]

And I just have to ask I'm an accountant and my husband is I.T. Security. I.T. Security.

[00:11:35]

OK. All right. Sounds good. And what's your annual income? One hundred and forty five year, 145 K a year. OK, and how much is he contributing to his four one K?

[00:11:47]

So it's about a hundred and fifty per paycheck, so about three dollars a month. OK, yeah.

[00:11:53]

So to answer your question, this is what I generally teach. OK, I want you to pause all investing. The keyword there though is pause. I didn't say stop and pull it out. I said pause. OK, we're not going to stop. We're just going to pause the investing right now because that 300 hours, you could be adding that to your baby step right now, your debt snowball, you should be learning a be debt from smallest, the largest making minimum payments.

[00:12:19]

You can take this extra three hundred dollars and put this on top of one of your credit cards, one of your cars that you have right now and really start knocking it off, making 145 thousand dollars a a year. Christie is very good money for her right now as a family, especially in Pennsylvania. The cost of living shouldn't be that that expensive out there, depending on where she's at. But if they attack this debt and the investing, maybe get some extra income coming in, they I can see them getting out of debt here.

[00:12:51]

But the next two to three years.

[00:12:53]

Yeah. And it's interesting because I think there's a couple of things I've noticed when it comes to, you know, walking people through the baby steps that seem almost counterintuitive. One of them is that you're going to list your debts smallest to largest areas like, oh, the interest rate, interest rate.

[00:13:04]

Do you know what we need to understand and remember about the baby steps that makes it so effective is it's more about momentum than math. Yeah. So we're looking at we want to get focused intensity towards the debt, snowball towards all of your debts, smallest to largest, and take that extra 300 a month and put towards that because we're going to focus on one thing at a time and really knock it out. And then you can invest like crazy once you're debt free.

[00:13:28]

But when you're when you're spreading yourself so thin, you're not actually making any progress or getting any momentum. You get discouraged and you want to give up. So we want you to see great progress and you can do that on that income, just like you said, Anthony, like, that's a great income. She can 130 may sound like a lot what that income and adding that extra investment money. She can knock this out.

[00:13:47]

Mary, you said you knew. I'm curious. What's your reason why? Why do you and your husband want to get out of debt?

[00:13:56]

Honestly, we've been living paycheck to paycheck for a while. I'm kind of sick of it, to be honest. It's a lot of juggling every month, so I just want to feel free, honestly.

[00:14:07]

Let's go deeper. Why do you want to feel free? What are you missing right now, having this amount of debt? It's just I feel like we don't have much in these things, so just every little thing that comes up, I'm constantly like, oh, how are we going to get through this? You know, it's higher than the windshield goes. I'm going to get through this, you know, so I want to be able to just, you know, it's OK, we're going to get through this.

[00:14:35]

Just another thing that, like, throw at us and just move on.

[00:14:38]

Yeah, I think that's important for you and your husband to talk about tonight.

[00:14:43]

You know, I really want you and your husband to sit down and say, no, why are we doing this? Because it's going to be hard to stop investing into the 401k if you don't have a deep a deep enough why to why you want to get out of debt. There has to be something so deep to where nothing is going to stop you. It's going to give you fuel. It's going to give you fire. It's going to give you that energy.

[00:15:04]

And you can really you know, we got to do whatever we got to do to get out of debt because I'm sick and tired of being sick and tired. I never again want to be here. I do not want this any more. And so, Mary, for everyone listening right now, you know, whether you're in America or whether you in London, James, he's happy with me on that part.

[00:15:24]

Now, I just really want you to get a deep why to why you want to get out of debt, because you will always have something come up. Well, you know what? If I don't invest, I'm a miss out on this or if I don't do this, I'm a miss out on that. But what's that? Why? And that's something you talk about often, too, Kristie. Is that the why? What's the why?

[00:15:46]

Well, we talk about it. We both talk about it. We all talk about here at Remzi Solutions because we love to fire people up because that's what's required for life change. Doesn't matter if you're starting a business, if you're getting out of debt, if you're stopping, you're investing. It can be hard to change your life, but you've got to get fired up and you've got to care more about your future than that thing today. Inconvenience today.

[00:16:04]

But it's so funny.

[00:16:05]

I love how Dave Ramsey says you can wander into debt, you cannot wander out. And I have experience that as someone who got myself in trouble in my early 20s and had to dig myself out of the financial mess that I made, you have to get mad and fired up and focus on your wife if you're going to stick with it. If not, it's going to be like a diet fad that you try for a week and it got hard and you gave up.

[00:16:24]

We want you to stick with this for the long haul because it can change your life. But I love how you said that you focus on your wife. I get fired up and then you'll actually stick with it for the long haul.

[00:16:33]

Let's stay right there. Chrissy, I like this question that came in on Business Boutique. She says, I am a hair stylist, but I just don't know if I have what it takes to break out on my own. I'm scared. I really want this, but I don't want to fail.

[00:16:50]

What should I do?

[00:16:51]

Well, I think it's interesting because first of all, Allison, I wrote this says everyone feels that way.

[00:16:57]

Oh, yeah. Everyone feels that way. No one wants to feel. Do you want to fail? No, no. No one gets excited about this idea that I think there's this myth that successful people aren't afraid. They're fearless. They're 100 percent confident. No, they're just willing to fail. Yes. They're just willing to. You know, Michael Jordan documentary. Yes. So fantastic. So good. I mean, you could take away a million leadership lessons from this in many different ways.

[00:17:21]

One of his favorite famous quotes is, in my life, I have missed 9000 shots. Yes, I have lost 300 games. Twenty six times I've been trusted to take the game winning shot.

[00:17:32]

And I missed I have failed over and over and over again in my life. And that is why I succeed. And so I think if we understand that failure doesn't have to keep us paralyzed and stuck, we can just accept that if we fail, it's not actually a failure. It's an experiment. We learned we dust ourselves off and try again. Then it doesn't have to be the thing that keeps us from trying because successful people, it's not that they're immune to failure.

[00:17:55]

They're just willing to fail. Yeah. And another example, Babe Ruth, he was the homerun king. He was the strikeout king. These two go together. But you're willing to put yourself out there and try to. So what I would say, Alison, is nothing will silence your fear of doing the thing, like doing the thing. So go do the thing, start your business, tell some friends, get a storefront or get a Facebook page.

[00:18:16]

Just take tiny baby steps. And with every tiny baby step, you'll build your confidence. Your fear will lessen and you'll realize you'll look up one day and realize, oh, I'm actually doing this thing. I love the the quote about Vincent Van Gogh, where he says, if you have a voice inside your head that says you cannot paint, then by all means paint and that voice will be silenced.

[00:18:35]

Just do it scared. That's that's the trick. As simple as it is, you know.

[00:18:38]

And one of my mentors said Anthony will only go as far as your faith goes. If you really want to start a business, if you really want to step out, maybe your faith needs to grow. So that way you can go as far as that. That's good. Christy, right. Anthony O'Neal, we're here taking your phone calls. Triple eight eight two five five two two five. Give us a call. We'll be right back. Going out to the beautiful city, Miami, Florida, we're going to have a conversation with her mind on how can I help you?

[00:19:46]

Hey, I'm 20 years old. I did one year and a half in college and I dropped out right before taking any debt. I just recently got a nine dollar part time job. And I don't want to be doing non degree job forever. I want to go back to college, but I don't know where to study and what to study. And I don't want to go into debt. I, I like history and I like political science, but I don't know if those are particularly lucrative degrees.

[00:20:19]

Mean, you know, it's a good, great place to start. I mean, this is go there. I think I mean that the world teaches the same backwards. And so follow me here. The very first thing I think that we're teaching our young people is wrong is OK, what degree do you want to have? What degree do you want to get? And I think that's the wrong question to ask. I think we need to ask ourselves, what do we want to be doing at 40 at your age?

[00:20:43]

What do you want to be doing at 40 years old? That's the question.

[00:20:48]

Then when we have that question answered, then let's backtrace it, OK? What do we need to do to get there? Do I need a degree? Do I have to can I go to a trade school? Can I go to the military? Can I start a business?

[00:21:01]

You know, what can I do? So let's let's walk through this process.

[00:21:06]

How do you right now I'm on 18, 19. I'm twenty. You're twenty twenty years old. Twenty years from now when you're forty, what do you see yourself doing.

[00:21:15]

Don't don't worry about a degree. What career do you want to start a business.

[00:21:19]

Do you want to be an accountant. Do you. I mean what do you want to do at forty years old.

[00:21:25]

You know, that's a really tough question. But I don't know, maybe something academic, something with my mind.

[00:21:33]

OK, so you love your mind. So you real good thinking, thinking through things, processing things. Would you say that that's what you're really good at. Yeah, I guess so do you would you say you're good at teaching, you know, as far as maybe a school teacher, maybe counseling people, would you say you're good in that area?

[00:21:54]

Yes. Which one? Counseling, school, teaching, coaching or anything.

[00:21:58]

Look, my parents are teachers, but I love both of them. Sounds good to me.

[00:22:04]

OK? OK, so now that we know that OK.

[00:22:08]

And this is not the answer at the end of this call, Chrissy, I'm going to have them hold on. And Kelly, we're going to give him a copy of King Coleman's book and the proximity principle to really help him figure out what's his sweet spot. Because our mom right now, you need to figure out what did your sweet spot at 40. But let's just say, for example, it was teaching. All right. So now we know exactly what we need to go to school for.

[00:22:28]

Yeah, we know that you need to go to school so you can become and go to root so you can become a school teacher. OK, but I think sometimes some people.

[00:22:37]

Oh, man, I want to get a degree in business. Well, what are you going to do with it?

[00:22:39]

I don't know. Well, I think the problem that we didn't stop that. What do you want to do at 40? What where do you see yourself at 30, 40?

[00:22:47]

So, I mean, that's what I want to recommend to you is instead of worrying about the degree right now, I wanted to spend some time maybe go ahead and finish out this year, not going back to school and start testing out different things, see what you're passionate about, see what you really have a heart for.

[00:23:05]

Then from there, then let's work backwards and see, OK, what are the steps that I need to be taking now to get to that point?

[00:23:14]

Yeah, the only thing I would add, and I guess this is coming from personal experience. Oh, is, you know, I think a lot of times when you're in college, when you're 20 years old, you don't know what you want to do and you're not sure. You only have a little bit of information. But Armont, I just want to encourage you. You can make decisions today about what degree you want or what your next step is based on just the information you have.

[00:23:35]

So maybe just today, all the information you have as you kind of like doing stuff with political science or with teaching. And so we're going to move forward based on the information you have. But in three years, you'll have more information. In five years, you'll have more. I will give you some encouragement. It can be easy to feel that paralysis analysis in your college of I've got to have my whole life figured out and I want to encourage you.

[00:23:55]

You can end up where you want to be, but where you want to be will likely change. And each step can be a step towards getting you there. So I'll give you an example. I went to college for business, just like you said. My mom had a business. My parents owned businesses midway through college. I'm like, it's not business, it's advertising. I want to work at an ad agency in New York. I'm going to be an art director.

[00:24:14]

And then through that, discover that I didn't want to do that, but I was able to use that degree for working in nonprofit that then set me up to do what I'm doing today. But if you would ask twenty year old Christie Christie, do you know that you'll be a speaker and author and she would have been like that?

[00:24:26]

I don't know what you're talking about, but you can still get to where you want to be.

[00:24:30]

You just make the best decision you can with the information you have. And as your information expands, it can inform those decisions changing and adapting. But each stepping stone can get you to where you want to be, even if you don't see the perfect path today.

[00:24:43]

Yeah, that's. Thank you so much for calling in. Yeah, I want you to hold on. Kelly's going to give you a copy of King Komnas book, The Proximity Principle. And I want you to actually start listening more to his show. His show is every single day series radio. You can go on YouTube, check it out.

[00:25:00]

But in that book, you're going to really learn more about how to find that sweet spot that Christiane are talking about right now. So we're going to give you a copy of that and you'll love it. So but thanks so much for calling in. Yeah.

[00:25:13]

And follow you. I mean, you talk about how people get their degree debt free, like you're talking about this all the time. So he said that he said, I don't want to go into debt. Right. And you're right about that. So be sure to stay connected with everything you're doing. That's exactly what you teach people.

[00:25:24]

Smart man. You know, Chris. And we're going to go to another phone call. I got to ask this question. Let me ask this question. Do you feel because a lot of people say, you know, just go and start a little bit because you're too young and you don't know you don't know what your life will be. But then when I look at like other kids, I see them and their parents are like teaching them. Earlier on, I met a 15 year old and she told me exactly what she wanted to do at 40, that I met another 15 year old and she doesn't know what she wants to do.

[00:25:53]

But then I step back and I'm asking you this because you're a parent like is part of that because of parents when a kiss? I don't know what I'm going to do because are the parents not really stretching their mind at an early age? Because over here, this parent, she she took her on a college campus, tours that in an elementary school, you know, she was having conversations and exposing her to different career opportunities. So at 15, 16, she says, I know I want to do A, B, C, and it's not what her mom or dad are doing, but she's like, I've been exposed to so much more.

[00:26:27]

So I know so and I'm asking this as a parent, do you feel as if parents sometimes we do slip up by not given the proper exposure and education at an early age?

[00:26:38]

Yeah, I think it's interesting, David, I took a call last week and what the caller was a parent and he was had a had a 15 year old and we asked if she worked and he said, no, I don't want her to worry about that right now. And I think so often we want to protect our children at any age, insulate them from the worries of the world that they will have to face someday. But to your point, whether it's working at a lemonade stand with their five or at a, you know, mowing lawns when they're 13 or at a restaurant when they're 16 or if it's college campuses or just having the conversation about identifying what makes them light up.

[00:27:09]

And Ken talks about this a lot. What makes them light up and come alive? Like like I can tell you. And you've even met my boys. Yeah. My oldest son, Carter, is night and day different from Connely and Carter is he can he can deconstruct something with his mind. He's a builder in engineering and you can see those skills. And so you start to think like, wow, God is going to have something for him that uses those skills.

[00:27:29]

Connely may be the next American ninja warrior.

[00:27:33]

I don't I don't know if that's a profession. He could make it one, but but you start to see just how uniquely they're wired.

[00:27:40]

And I think if you do lean into that, encourage that versus trying to diminish it or downplay it until, you know, later in life and then they do it, just take a little bit longer to identify what they're good at. I heard a sermon one time at my church where he said one of the things I've noticed about the best parents I've ever met is they identify what their children's unique qualities are and they just fan that flame. They don't try to change them.

[00:28:05]

Like, why can't you be more like this or that? They just actually pour fuel on that fire. And so it allows that child to grow up into who God made into him or her to be. So, yes, I think it's definitely part of the parents, but I think if we could understand, we're not harming them by exposing them to things they enjoy, their strengths, working, whatever those things are at an early age, it's actually really getting them to start to develop those muscles and skills that will be great for the rest of their life.

[00:28:30]

Absolutely.

[00:28:30]

Because I get tired of seeing parents expose them to dancing videos and rap songs and songs and are singing and dancing everything. But we're not. They're learning it. Yeah, but they're not learning that. Then I expose them correctly. So I just want to challenge all the parents out there. You guys expose your kids, expose them at a young age, helped them start developing things so they can know by 16, 17, 18 years old where they want to go.

[00:28:53]

This is today, Ramsha. We've gone through some tough times recently. Many of you are hurting right now. Let's just be honest. I have of jobs. Some of you are maybe living paycheck to paycheck, might be struggling to put food on the table. John Maxwell says change is inevitable. Inevitable growth is optional. If you have said to yourself, never again during this covid shutdown, you have already taken the first step towards winning with money you've chosen to grow as a result of this season.

[00:29:59]

If you want to take the next steps so you can sleep easy and join the group of Americans who aren't hunting, who are hunted by their finances.

[00:30:07]

We can help you listen.

[00:30:09]

We have a brand new thing we wrote out called Ramsey Plus. It is simply amazing.

[00:30:16]

This thing actually helped me out. Financial Peace University, the every dollar app, everything in this amazing program. Christie has helped me out. This is the all access membership that gives you our best money products you can learn with all nine Lessons of Financial Peace University, our proven plan to win with the money and budget, with the premiere features of every dollar. And here's what I love. I haven't used this because I haven't been in debt since we rode it out.

[00:30:43]

But the track your progress with the new Baby Steps app start right now for free. And where it. Yeah, I'm going straight there. What it takes trial tr I two three three seven eight nine trial two three three seven eight nine.

[00:31:00]

You know, Chris, when I was I remember sitting at the beach one day with my friends and I was right when I got out of the back of my car, got my life right with my parents and I say, you know what?

[00:31:10]

I'm going to I'm going to get I'm going to attack my dad. And my never get a moment wasn't me being homeless in the back of my car. My never again moment was when I'm sitting at the beach with my peers and all of my guys come in. And I'm sure you remember these days. I know they did that up here, though.

[00:31:29]

But on the West Coast, we had spinners on our cars back in the days he sort of spinner wheels and all my guys would pull in to the beach, had these spinning wheels on driving Mercedes driving Lexus is driving Range Rovers, driving these big, expensive cars. But everyone, I got out of the car, I knew he lived with his mom and dad. He lived in a room like five different people. Like no one was really financially healthy.

[00:31:50]

Right. But we looked like we could. Yeah. And I was like, that's not the life that I desire. Yeah. That's not the life that I want for myself. And I told my friend that day, take me home. And that was my never again a moment. I said, I'm never going to live paycheck to paycheck again. I'm never going to get into debt again. I got on the Dave Ramsey budget for my dad.

[00:32:12]

He gave me about a month prior to that never again moment. I eventually found Financial Peace. University took the class to really learn how to be a good steward with my money. And since that time I have not looked at debt. I have not been stressful over money. Have I made all the right decisions with money? Absolutely not.

[00:32:30]

But Financial Peace University at Ramsey Place has just really been a huge, huge asset to my life. And because of what Ramsey plus offers my family lives. Whenever I get a wife and some kids pray for me, their life will be different because of that. So again, I won't try to text you guys. Trial TRL two three three seven eight nine three three seven, eight, nine. And I promise you, your life will change and you'll start building generational wealth.

[00:33:02]

And that's what I'm focused on right now.

[00:33:04]

You know, it's so interesting because the idea of getting out of debt or living anything other than paycheck to paycheck for some people just seems like this insurmountable goal. Now, I oh, you know that I love to run. I love to run marathons, half marathons. But you know what you think about twenty six point two miles, I can never run that thirteen point one miles. I can never run that. You download a plan. Yeah. And then that first week, your long run is three miles.

[00:33:25]

In the next week, your long run is four miles and one step at a time, one week at a time. You look up, you're like, wow, I'm going to do this. And then you do it in. That insurmountable goal isn't so overwhelming when you have a plan. And that's what this is. It's a plan for your money. When you can see it, you can do it. And so that's what I love about it.

[00:33:41]

It makes it so achievable for people.

[00:33:44]

Well, let's keep it going. This helps someone else out with the plan is go ahead and go out to Columbus, Ohio, and have a conversation with Brandon. Oh, good afternoon, Brandon. How can Christy and I hope.

[00:33:55]

Hey, Anthony, A.C., thanks for taking my call, sir. What's going on? I just want to start off by saying the Ramsey plan is awesome. I won seven day trial, so I love it. This the start of and good to hear my um. My question is right now I work full time at the post office. For a couple of years now, I've been doing detailing on the side car detailing, and now I'm starting to get to a point where it's starting to pick up a little bit and I'm starting to get high end clients like exotic.

[00:34:26]

Cars and luxury cars, which is paying really well, the only thing is this, with my speed here at the post office, I'm working after work and on the weekends or my days off. So I'm just trying to figure out a way and a plan to try and manage that. We're trying to figure out how I can eventually, you know, maybe go into that in time or, you know, trying to figure out a plan for that, because I'm not really, you know, business savvy.

[00:34:56]

It started more as a hobby and it's starting to turn into a business. But I really enjoy doing it. Yeah, for sure.

[00:35:02]

Well, how many hours a week right now are you working on the car detailing business right now?

[00:35:09]

I would say I probably do it maybe three or four times a week, and I usually do it maybe for about five or six hours a day, five or six hours a day.

[00:35:20]

OK, so are we talking like five hours each time?

[00:35:23]

You're saying about 20 hours a week here? Yeah, roughly. OK. Do you know how much money you're making about let's say you work long hours or do you know what you're averaging per hour?

[00:35:35]

And usually I do about one hundred and fifty a car is about how much I'm doing.

[00:35:41]

So oh boy, you expensive 150 car details and I got a luxury car paying 154.

[00:35:50]

That's that is that is in line with the market. I'm a little Ferrari.

[00:35:56]

So Ferrari, you're paying 150.

[00:35:59]

Brandon, Brandon, Sprint and focus. I let him tell me what he's done. What Brandon. What how much are you taking home from this business? A lot like right now, it's about maybe five or six hundred a week.

[00:36:15]

OK, here's where I'm going with this Branom. I think you can make this side gig, this car detailing business, your full time job. But I want you to run some numbers. We're not going to make this terrifying leap into the business full time and just hope it catches us. We're not going to have the Jerry Maguire moment where you're going to walk out of the post office with the goldfish and say, who's with me? We're not going to do that.

[00:36:33]

That's not smart or safe. And it will take all the fun out of the business. Let me tell you, here's what I want you to do. I want you to figure out the amount of money that you need to live on. It might be the amount of money you're getting paid from the post office. It might be less or, you know, assume you're living on it now. But with the car money coming in, an extra figure out what your budget is of.

[00:36:51]

I need I'm going to make something up 40000 dollars a year to live on, OK? Regardless of what you're getting paid, I can live on 40000. Then what your goal is right now, Brandon, is to build up the business to where it can support you completely. So that's not top line revenue from the business. You're going to have some business expenses in there, all your leather seat cleaner, all the things, whatever that is. So actual take home pay needs to equal.

[00:37:17]

We need to build it up, keep working on that business on the side and evenings on the weekends, build it up so much that the business can't support you full time. And then when you're at that point, you can quit your full time job at the post office. And then it's not this terrifying leap. It's the next logical step. But for a season, you're going to feel like you're working two full time jobs because you are. And that's going to be a season.

[00:37:40]

I just want you to remember, this is a season. It's not forever. I'm doing this to create a long term plan to be able to step out of the post office and into this full time. But in the interim, it's going to feel like two full time jobs because you're working so hard in those off hours and on the weekends to to build that business up. And that's just going to that's going to be the safest way for you to make that transition gradually.

[00:38:03]

Yeah. Thank you so much for calling it. Yeah, no problem. Thank you, guys. Oh, thank you.

[00:38:08]

That's a great question. We get that question all the time, Anthony. Yeah. And the mistake a lot of people make is they do what I call assumptive math. So they work on the business ten hours and they think, well, if I just quit my full time job and work on it forty hours, the money is going to magically be there and it's not. And so what happens is they end up having to go back to a full time job.

[00:38:26]

So I want you to work on the business when the dollars are there that you can live on, not assume that just because you double your time or quadruple your time, the revenue is going to double because sometimes the demand is not there.

[00:38:37]

It's really not. But honestly, man, if you're worth 150 dollars an hour, I mean, per car, get your money.

[00:38:45]

I love it. Yeah, that's awesome. I love it. I want to thank our producer, James Childs and our associate producer, Kelly Daniel on phone lines. Remember, you guys, the caliber of our financial future will be determined by the decisions we make today. This is Dave Ramsey Show. Hey, it's Kelly, associate producer and phone screener for The Dave Ramsey Show. This episode is over, but if you heard about an event, product or service, it didn't have a chance to write it down.

[00:39:21]

Don't worry. We list everything you've heard about during this episode in the podcast show notes or head to Dave Ramsey Dotcom. Thanks for listening.

[00:39:29]

Money isn't the only thing we talk about around here. Get life changing advice on your career from my good friend and career expert Ken Coleman. Oh, my Ken Coleman show. According to a recent Gallup poll, nearly 70 percent of Americans are disengaged at work. If you dread going into work every Monday morning and you're just trying to make it to the weekend, the Ken Coleman show is for you. Everyone has a sweet spot. Your sweet spot is at the intersection of your greatest talent and greatest passion.

[00:39:59]

We will help you discover what it is you were born to do, and then we'll help you create a plan to make your dream job a reality. You matter and you have what it takes. Join the conversation on the Ken Coleman show. Hear more from the Ramsey network, including the Ken Coleman Show. Wherever you listen to podcast.

[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.