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Live from the headquarters of Ramsey Solutions, broadcasting from the car rental studio. This is the Dave Ramsey Show where America hangs out to have a conversation about your life and your money. My name is Anthony O'Neal. Cohosting today with me is the one and only, not John Bellone, the future YouTube star of America. This guy would be launching his brand new talk show, The John Doe Show, right here and a beautiful, beautiful United States of America.

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And I'm encouraging everyone right now that if you are in need of honesty, just wise counsel around mental health relationships, marriage stuff, kids stuff, all the stuff, all this stuff, all the stuff, they can give you a call. That's right. And you will help them out.

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That's right. They can email me and ask John Ramsey Solutions. Dotcom, leave your number. Tell me what's going on in your life.

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Kelly, you will reach out and we will have you on the show. You can also call or leave a message at eight four four six nine three 32 91. Looking forward to it.

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I know you've already recorded a couple of shows. James and Kelly, are your producers and associate producer isn't really helping you out. So you have some vets.

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How do you feel, man, that you are about to enter into this space and everyone talks about Dr. Phil. But I just think Dr. Phil has nothing on the job.

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He's got a thing or two. He's got a couple of jets on me. It's cool, man. A couple of jets. And he got Oprah. But you got Dave. I got the good guy.

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Dave, I do know that I love Oprah about you, Sam, but you got Dave. So it's good, man.

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I'm a private guy and I'm a quiet guy. I play loud on on the radio here, but I'm I'm an introvert man. I'm usually pretty quiet, kind of a nerd. And so this is stretching me and putting me in some uncomfortable positions. But, man, the the shows that we've recorded so far are fun. They are serious and heavy. They're everything in between. We got marriage challenges. We've got parenting challenges, mental health issues. We got it all.

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And people are sitting in some extraordinary things are being vulnerable to being open. And it's just show me, man, people are hurting. They don't know what to do next. They're confused and lost. And there's just so much misinformation and nonsense out there. Anthony, you know this.

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And so we're just cutting through it, having a good time together. And I'm excited to get this show out into the world.

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Yeah, man, you know, one of the things I love about you and myself, we're not scared to talk about pretty much anything. Right. You know, sometimes our team has to tell us, hey, we're not going to talk about that.

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Yeah, I've had that conversation this week. I me to sit in the science room, so stop talking. Yeah. You're making everybody a little bit weird right now, so. Yeah. So mean.

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I'm excited to see you and not just to see you win, but to see you help millions of people. I appreciate it. So I'm praying for thanks for your support.

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You've been a great teacher and mentor so far as I'm trying to figure out what in the world I'm doing here.

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There's still a man. Hey, again, if you have a question for Dr. John, go ahead. Email him at ask John at Ramsey Solutions dot com or leave him a voicemail at eight four four six nine three three two nine one. I would definitely encourage you to follow him on social media at John Deloney on all of the social media platforms, Instagram, YouTube, Facebook and Dr. Diaz. Just like myself, you guys, he will answer pretty much the majority of the Instagram comments.

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He reads them all like me. I'm not reading my Instagram comments right now because. Well, anyways, we'll talk about that later.

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But he would love to have a conversation with you. And I would love for you to give it give him a call, because he'll give you some wise, wise counsel. But you know what? You're helping millions. I'm helping millions. That's help. One more right now. Let's go out to Salt Lake City, Utah, and have a conversation here with Elina Allena. Good afternoon. How can Dr. D and I help?

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How are you? Well, I have a question in regards to investing for my children's future. I really want to make the right choice because my children are really young and. Science Seaborn, take your time, take your time, children are really young, and so they have the potential to grow lots of money. We have a little bit saved for them right now, but it's just it's just sitting in a savings account. And I'd like it to grow with my husband.

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And I have talked a lot about a 529, but we're not convinced that our children will attend college. I have a higher education degree and my husband is working on a higher education degree. But it's been an extremely strenuous road for him. And we would like, if our children choose not to do classical university based education, we'd like to have that freedom to support them in what that decision may be. I also am a lot I'm a planner and so I know that there's a risk that with my children being so young, a lot can happen in the next 16 to 20 years.

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They might have an accident. They might not be here. Something could happen to where they aren't able to attend higher education or whatever that may be. And so I don't want to invest in a 529 something happen. And then me regret making that choice when I could have put it somewhere else and have it be more accessible to them.

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Yeah, here's the thing. And let me ask you this question, because I can tell you to put this money into a Roth IRA and it'll grow. Right. But then you miss out on some of the benefits. It comes with a 529 if they go to a college. So my advice to you is I'm going to say do baby steps five, which is go ahead and put that into a 529. So that way you can grow a little bit more.

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And if they go off to college is the best benefit you. Now, it doesn't go towards just a traditional four year university. You can pretty much use that for about any type of credited college experience. And you can use that for any children, it sounds like.

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Oh, will you and your husband be telling them they do not need to go to college or do you just want to have the opportunity to have your kids say, Hey, Mom, Dad, I don't want to go to college, I want to just go straight into the workforce and you want to be able to cut them a check? Is that what I'm hearing? Or you're saying I don't know what's going to happen and I'm just trying to be a perfectionist and just plan for whatever happens?

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Probably the latter. We definitely encourage our children to go to college. My husband works kind of a dangerous job and I have anatomy and disease. So the face of our own mortality is very present in my life. And so I don't want them to have I don't want them to feel like they have to go to college. And I don't necessarily plan to write them a check if. But we do want to support them in their endeavors if they want to go to a training school or if they if they decide they don't want to go to college and they want to start a family, we'd like to help them in that avenue of maybe purchasing a home or paying off their debts if they get themselves in a little bit of trouble.

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Yeah. What I'm hearing from you, Alina, is that you're really trying to figure out their every single move. And I think right now what you have to do is do the best part you can do. Just go ahead and open up a 529 and invest into that, OK? Because you're saying that you're going to encourage them to go to school. I believe education is important. I believe everyone should get some form of education, whether that's a traditional four year school, going to a community college, going to a trade school, going into the military and going off to college.

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I believe education is very important. So for me, I'm going to recommend that you go ahead and open up a 529 and you encourage your kids to get some form of education in that 529 will help them. All right. So that's what I recommend. And that's where I recommend for all y'all out there in America. I don't plan every single move. You can't. It's their life. But do your part by helping them out a little bit, by giving a wise counsel and have a little bit of money.

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Given this is a day, Ramsha. Well, we all have enough on our plates, right? The last thing we need is to not get a good night's sleep. Think about how effective you're going to be during the day if you can't even think clearly because you didn't actually arrest. That's one of the reasons I've been recommending Tufte and Neidl. My family has their mattresses and they start as low as three hundred fifty dollars. Plus, you can try it out 100 nights risk free, go to Taesan Dotcom to pick yours out.

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They ship it to your door for free. That's T in dotcom.

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Going out to the beautiful city here, Nashville, Tennessee, we're going to have a conversation here with Melinda Melinda. Good afternoon.

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How can I help you, sir? I have a question I had before covid. I had a large credit card debt. Eleven thousand dollars that I was planning on. I know it's a no no getting money out of my mutual fund, something to pay for it. All done and over with and be gone. No. And then the stock market went to the bottom of the bucket. So I waited and I had been making payments. So they have sold the debt to a credit company and now the market's come up.

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I've got some money out and they send them a chick. But my question is, I got a thing from the company that bought the debt and said they would settle for like 6000 instead of 11000. Now, should I pay off the 11000 to them or take them up on what they have in writing a letter saying they would take the 6000?

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So here's the thing. Since you've already taken the money out, I mean, I'm not too happy that you took the money out of your future, but I know I haven't used credit card in over two years.

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And it was just like I've done everything I can do. I can't get ahead. So I'm going to do this, get over and never get myself in that situation again.

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And I love the fact that you're with and Melinda, I love the fact that you're aggressive and you're like, yo, I don't want this. I don't want this over my life. And so that's helping out where you are now. But genuinely, we're not going to tell you to cash out your 401k to pay debt. But since you have. Yes, I will. You have two options. You can pay the full balance if you want to pay the full balance, but you can also steadily, since it's already in the collections agency, most collection agency has purchased the credit card debt already and they purchased it actually for like ten cents on the dollar is very, very cheap.

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And so six thousand is a starting number. You can actually negotiate that a little bit lower. And I'm saying that because my first job was a collector. And so we go sometimes as low as 30 cents to 40 cents on the dollar. One of the tricks is if you call him today or called. Yeah, I actually call him today. It's the end of the month. They're trying to close out the books for the month, you may, to get them to go down to 40 cents on the dollar because they're trying to get that money there.

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But you you have to answer the question. You can pay the full balance if you just want to be you know, if it's a moral thing for yourself and you want to pay back 100 percent or if you're OK with it, just go ahead and settle down for as cheap as possible. I did settlements. I'm just going to be real. I didn't I called the company and I said, hey, what's the best thing we can settle this for?

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I'll let them give me the number. I told them this is the best thing I can do. When I was paying off my collection items. I mean, several of them, I actually sort of like 35 cents on the dollar.

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So today is the last week, day of the month. You have Monday to 31st. You can wait. You could do it today or call them first thing Monday. And I promise you, they'll go below to 6000 dollars, but either or is fine with you. But if you settle it out, I want you to put. Is this your only debt right here, Melinda?

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Yes, sir. OK, I'll be taking care of everything. I'll be debt free house and everything. So let's try selling this one. I love it.

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So let's say you put that five thousand dollars towards his credit card, right? What how much cash will you have left? Out of what I took out, out of everything you have right now, your savings. Oh, yeah, everything. Well, I have about probably a thousand maybe in savings total, but part of that is to pay taxes on it. OK. As far as like a savings account. Twenty five hundred. And then I have some house repairs that I really need to I have to do.

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It's not a it's not a redecorating the past two days. So I could use the other money that I got out of there and apply it towards the house without taking out a home loan to get things fixed.

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Yeah, we're not taking any more home loans because I know your future. Well, what's your investment? The minimum that I could do, the home loan, the home repairs with the different. OK.

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Well, what you have invested right now, what's your investment portfolio looking like? Do you have a Roth IRA for one K? Anything else that's for your future?

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It's all with investment company and it's mixed in stocks, in many markets and that sort of thing. OK, all different levels. And basically what they say is the different categories. Yeah. Yeah. So you're almost right at just under half a million.

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There we go. There we go. OK, sounds good. All right. We're in a good place there. Do not touch that, Melinda. And go in here. Just give them a call, Melinda. And I'm telling you right now in America, listen, you know, if you are just like Melinda, if you're in this situation, I was that guy that was a very first job I had out of high school was was a bill collector job.

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And I remember calling people and we on the screen, we would see what we purchased is that and the lowest we could go will be 30 percent with the supervisor's permission. But I could go as low as 40 percent. What a lot of people don't know. The person that's on the phone that's collecting this debt, they're getting a commission of what they collect of the gap. The gaps not narrow, the gap of just anything, the total. OK, so we collect 6000 dollars.

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You get a portion of that 6000 dollars. And so what I'm telling everyone, if you're going to settle, you know, don't don't jump on the first offer. If you're going to settle negociate, spend some time. And a best time to negotiate is always just like when you're purchasing a car.

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It's always going to be the last three business days of the month because that collector is trying to pay off, not trying to pay off, but they're trying to close out the books.

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So let me ask you this. Is she out of she can't call the credit card company back and get this thing out of collections. Now she's holding a check for ten grand. She couldn't call the credit card company and say, hey, I just want to I want to settle this up. I got behind and I want to make it right. They've already sold it. Right. It's going well. It all depends. It Krutch her credit is shot well.

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So not not everyone sells it. A lot of them do. But do you have some companies, for an example, let's say like a utility companies, like a TV company, they don't sell the debt sometimes because not nine times out of ten a person is going to come back to him. So they just hire a company to collect the mercenary. Yeah, just to collect on it. Now, credit card companies sell their credit card debt to collection agencies, a majority of them.

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And so you can negotiate. But again, I know people who had a moral thing, right? They said, hey, I'm a all I'm a pay all of it back. Right. Then I know several people, you know, like myself. You know, when I was young, I call the company and said, hey, I'ma do right by you. How do you want to resolve this matter? And I said, well, we'll do this.

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But I have this much cash right now without work. Yes, that'll work. Mr. Neil sent me a settlement letter and I'll put the money order in the mail. And a key thing is you do not give him a debit card over the phone. You do not give him your checking account over the phone. You have them send you a letter in writing that at this right here, if I send you a certified money order, that you will get this updated on my credit reports and we're done.

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We're screwed up, you know, but just do not give them payment information over the phone because you have some people that were accidentally type in two dates. Right. And get confused from there.

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So I just wouldn't do that. I really, really, really wouldn't do that. That'd have a question for you from Morgan.

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The new baby steps.

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She says, What's the best approach to budgeting when you when you both me and my husband have dealt with financial abuse in past relationships?

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It's a great question. So I would number one, if you're both dealing with financial abuse, number one, I'd probably bring somebody else in to help with that conversation. That means if you got abused, that usually means you've got some sort of trauma there. So you might want to sit down with a counselor. You might want to sit down with an FPU leader at your church to help you begin to have conversations about money.

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Recognize on the front end this is you're going to be there's going to be tense there going to be default settings that you have. So he may ask you, hey, did you see anything on a credit card and you're going to feel your heart rate instantly go up. Remember, he's not attacking you and vice versa. She may say, hey, did you really need some more shoes? I thought in our budget we had this and you're going to think, oh, she needs to get in my business.

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And that's when you get. Remember, hey, that's the past abuse talk, and that's the parts of your brain that are trying to protect you, man, and then here's the thing. You got to do this together. Yeah. You got to do it together. You have to practice doing this together. You got to be graceful with one another. You have to say, I'm sorry. You got to say I blew it. You got to say, I know I'll hit 50 bucks and blow money, but I saw something I need to get on Amazon and I spent 200 and I'm sorry, I'm going to eat it the next couple of months to catch up.

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And everybody's got to be graceful. Healing from abuse usually take somebody else to walk alongside you.

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Healing from abuse takes time and it takes a lot of grace, a lot of grace. I love it. Got to have a conversation, but it starts with the conversation.

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Yep. Got to have a conversation. This is the Dave Ramsey Show. I heard a statistic recently that absolutely blew my mind, 43 percent of Americans are not protecting their loved ones with life insurance. This drives me crazy people. What are you thinking? Taking care of your family has to be a top priority. That's what term life insurance is all about. Regardless of where you are in the baby steps, you've got to make this a priority. And that's why I talk about Zander Insurance every day.

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They keep it simple and make sure they find you the best rates out there. Go to Zander Dotcom or call 800 356 42 82. But you have to take the first step. That's Zander Dotcom.

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Let's be honest, Erica. We've gone through some tough times recently, and many of you are hurting right now. You might be jobless, you might be broke, you might be struggling to put food on your table. You might be stressed. John Maxwell says something that I love, that change is never inevitable. Growth is optional. If you have said this to yourself, never again, especially during this season in America right now, you have already taken the first step towards winning with money you've chosen to grow as a result of this season.

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If you want to take the next steps so you can sleep easy at night and join the group of Americans who aren't hunted by their finances, we can help guys. We just launched something brand new and it's huge, something that would change the trajectory of your life and not just your life, but your family's life and your children's life. And it's called Ramsey.

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Plus, this is the all access membership that gives you you you our best money products you can learn with all nine lessons of financial peace university proven plan to win with money budget with the premium futures of every dollar and track your progress with the new Baby Steps app. Start to free Ramsey. Plus travel right now. Set yourself up so you can never again have to walk through a crisis without confidence. Listen, you will be OK. You can do this.

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We are here with you. I want to go ahead and text the word trial. TR I a-l to three three seven eight nine again trial two three three seven eight nine to get a free trial of Ramsey. Plus, listen, you guys, this was the thing that changed. My financial life, and this was the thing that really helped me start seeing things differently when it comes to my money as far as being a good steward of it. I honestly thought I'd give God the 10 percent and the other 90 percent is mine.

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And I was giving God his 10 percent. And I was still losing all my all the 90 percent. You know why? Because it's not mine. Hmm. I'm still the manager of the other 90 percent is still his mom. And Ramsey plus taught me that in order to get more, I have to be a good manager of the few that I have now. Hmm.

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And when I really started understanding that principle that these clothes that I have on the car that I'm driving the house that I have, everything that I have is not mine. It's his. And he just called me to be a good manager of it. That's when I started really understanding how to be a good steward and how to be wise with my with my money.

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And man, I'm telling you right now, Ramsey plus will bless you.

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It would just. Impact. Not just you, but I really want to think about. How would this thing help you with your kids, with your children's children? Do you want to leave your kids with bills and benefits or do you want to leave your kids with land, wealth, wisdom, joy, peace? You choose. And if you really want to go down a road of joy and peace and legacy, Ramsey is about to go well and it's so much more than money.

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It's it's this idea of accountability and how to change your habits and how to change the way you think about things and how to change the way you do things and when you stumble, how to pick yourself back up or how to lean on a community that's going to lift you up and just walks alongside you.

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So much great content. There's so much great even technology from a guy that my wife tells me regularly. I was born in the wrong century. Man, there's even some tech on there that I use that's really helpful. So it's a good deal, man. It's really incredible. I love it. I love it.

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Let's keep the conversation going on. Go out to Salt Lake City, Salt Lake City, Utah, and have a conversation here with Scott Scott. Good afternoon. How conducted in.

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Hey, good afternoon. Thanks for taking my call. Yeah. So so let's see. I mean, I recently started to get in I think I have around thirty four thousand dollars and that I'm working on paying off and I'm trying to brainstorm some ways to save to lower my expenses. And I've been so I've been diagnosed with bipolar disorder and I take an expensive medication for that. I take a medication called Battuta and it costs around it costs around three thousand dollars for a three month supply of that.

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Luckily, I have health insurance, so I only have to pay usually around my out-of-pocket maximum is 3000 years. So that's as much as I have to pay on it. But my idea is that maybe I can talk with my doctor about getting me on a cheaper medication and that way I could use that money to pay off more times throughout the year. I just want to see your advice on that.

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I'm let John talking to me to this a little bit. One of my concerns here, you say cheaper medicine. I like affordable medicine. I don't like the term cheaper medicine because I want to make sure that you're getting the correct medicine that you need so that you can be healthy. So I don't I don't want you to sacrifice for a cheaper medicine so you can pay off debt, but then you're not fine health. So right now your health is more important than your debt.

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Now, I would definitely have a conversation with your doctor and say, hey, doc, is there any other medicine that I can get that is on? It's going to give me everything that I need, but it could be a little bit more affordable for me. And if Doc says yes and you go down that route, if he says no, no, there's another medicine, it's cheaper. But I don't know about it. No, I want you to stick with that and then let's figure out how do we work around that situation.

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But hear me on this sky. Do not sacrifice your health to pay debt. We're all about debt. But first and foremost, we're about your health.

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Yeah, and here's what I'll pay you back on. That's got a lot of doctors prescribe what's in front of them. They hear from drug reps. They hear from pharma reps and pharmacy reps. And they say they are told information. They are seeing so many patients, they're so busy. There's so, so much charting going on, so much insurance back in the back room that they will trust pharmacy reps. Here's the newest drug. Here's the efficacy stuff that the drug company sponsored these studies, and this is what you should be taken.

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And so I always advise people I do this in my own life the same way Dave Ramsey tells folks when you sit down with a financial advisor, there's two kinds. One, trying to sell you something and get your money and get you out the door and the other who has the heart of a teacher. And so the doctors that I see personally, the counselors I've met with personally, counselors, psychologist, I want to know why I'm taking what I'm taking.

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I want to know why we're walking through what we're what we're walking through. And so, like Anthony said, walking in and saying, hey, little kid is really expensive. And I don't know I don't know anything about this drug. By the way, Scott, this is expensive. Give me something cheaper. Instead of framing the conversation that way, I would ask, hey, this is a really expensive medication.

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Like Anthony said, it may be the best, but I want you to tell me what this medication is going to do for me, my bipolar disorder, my relationships. And I want to know the other behavioral things, the other relational things, the other things I can be doing outside of medication to be supporting a holistic, healthy life.

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And if he says, oh, man, I didn't realize that it was that expensive or I didn't realize your insurance didn't cover that, there are four other generic options. We can try these other things. That's going to be a great route for you to take. And then at the end of the day, here's the deal, man. Don't be ashamed about taking medication, especially if you are diagnosed with bipolar and the diagnosis legitimate. And it's good man medication can make a magical transformation with someone with bipolar disorder.

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One of the. Biggest challenges you're going to have is folks with bipolar get well, they feel good, and then they quit taking their meds. And so work closely, closely with your doctor on this. And if you end up having to budget three thousand bucks a year, that's it. Three thousand bucks a year. What do you make a year right now, Scott?

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Real quick, this year with over time, I get around a hundred thousand a year.

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So 3000 dollars is not an issue at all. And honestly, if the medicine is working, I'm not even really having that conversation with my doctor. I mean, making six figures, three thousand dollars is a three thousand dollars every three months.

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Yeah. So it's expensive. Yeah. That's a really expensive.

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Yeah. But he only pays you only pay that once a year because he's maxed out three thousand dollars. Yeah. So that's right. Oh definitely. Definitely. Man your option. Ask the question but with your situation right now I'm not really worried about him and I'm sticking with that medicine because you sound healthy. Some of the sharp young man, Ciccio, your budget, you will be successful. This will be this is the Dave Ramsey Show. Today's Scripture of the Day is Philippians for 12, 13, I know how to be brought low and I know how to abound in any and every circumstance, I've learned the secret of facing plenty and hunger, abundance and need.

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I can do all things through him who strengthens me.

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Earl Nightingale says, never give up on a dream just because of the time it will take to accomplishment accomplish it, the time will pass anyway.

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Anthony, that reminds me, we had some friends in West Texas and they were talking and there are 35 and they were always want to go to med school is one to go to med school.

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And one of them said, if I go to med school now, I'm going to be 42 by the time I get out.

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And the response was, you're going to be forty two anyway. You'll be 42 as a doctor, you're going to be 42 as doing whatever it is you're doing, but you're going to turn 42 anyway.

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You never give up on a dream just because of the time it will take to accomplish it. The time will pass anyway. I love that early to go, man.

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I love that. I love that. Let's keep this conversation going. Let's go out to let's go to Houston, Texas, Houston, Texas, and have a conversation with Michael.

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Michael, good afternoon. How can I help?

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Hey, guys, thanks for having me on. Hey, thanks, Michael. Hey, before we get started, I have a really quick, important question. As a former Houston native, are we still rooting for the Astros or what man can we still root for? We just have to take a year off. Definitely.

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Oh, no. Yeah, I mean, it's Houston, so I've had to deal with the Texans up and downs, and so I got to roll with the punches. All right. All right.

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Thank you, man. What's your question? What's your question?

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I just graduated college in May and I'm living at home and I haven't lined up a job yet. But with my major in this in this area, I could see myself making upwards of 60 or 70 thousand. I have 80000 or so in student loan debt. And I was wondering, once I do land that job, I should I wait to move out until all that all that time and all that income with no overhead in this attack, that student loan debt, or should I move out?

[00:32:15]

And I know they they've always presses the the issue of the growth of the man and everything, whatever you take on your own expenses and get your own place and everything. So I was wondering if I should just use that time to know overhead and just go directly at that student loan debt or go ahead and move out and kind of work that into my budget whenever I am on my own.

[00:32:39]

How's your time with your family right now? Oh, it's good. I got I'm not at all, like, anxious to move out or anything, and I'm perfectly fine staying at home, if that's the smart financial decision for me right now. And so it really it could go either way.

[00:32:56]

When you start making sixty or seventy thousand dollars, those feelings will change.

[00:33:03]

I'm not somebody who thinks you should just go run and move out just cause you got a job if you're in a good situation. I also know that it can strain and and injure relationships when there's not a period at the end of the sentence. And so I usually recommend folks will, once you land this job, that you would sit down with your with your folks and say, here is my plan. It's going to be three months, it's going to be six months, it's going to be one year.

[00:33:28]

Let's try it for this many months. Let's put a I want to pay rent. I want to give you a hundred bucks to give you a hundred bucks. They may not take it. I've heard of folks taking rent from their kid and when they move out, they hand them a check of that money back. But you paying in something to put some skin in the game, at least like some sort of a small fire underneath you to get out and to your parents, don't feel like this thing is forever.

[00:33:50]

And suddenly they got a grown man making good money just using their house as a hotel room. Right. And so you're thinking about relationships and you're thinking about the financial impact on this, too.

[00:34:00]

How old are you, Michael? I'm 23, what's your vision for life? Well, I want to in the future, part of my plan is to have property, maybe some land and definitely a family in the future. And so I just want to get myself secure and get this this 80 grand out of the way. That's just kind of weighing on me before I can move on to any of those future dreams.

[00:34:28]

55. What are you doing at 55? Fifty five, probably, I mean, I see myself with a pretty sizable family, financially independent of solid, my house paid off a solid retirement to where if something like this covid thing were to happen. And I've had way too many people that have been with the same company now for 27 years and whatever whenever this economic downturn hit, they were just abandoned by their companies. And I don't want to be in the position in the future to where that would affect my retirement or my lifestyle or anything.

[00:35:06]

So just to where I can be in control of my own destiny at that point in time.

[00:35:11]

So you need a deeper vision.

[00:35:15]

I what I want to see from you, Michael, is start your plan at the house, finish the plan on your own. So I want you to tonight, when you hang up the phone, I want you to get away, cut off your phone, cut off social media. Maybe even leave your parents house, maybe drive around to a park, and I want you to sit down and really think of your vision for your life. Were you in the next five years, were you in the next 10 years, then come back home and tell your mom and dad, hey, here's my plan, here's where I'm going.

[00:35:46]

I want to start the plan here. I'm going to go ahead and start the plan. Worked a plan with your wisdom, with your guidance, with your support. The reason why Dave says he he really encourages people to move out, which I agree with them is because especially for a man, there is just some sense of of you growing up and maturing out on your own experience, things out on your own. So I'm not saying I want you to go out today, tomorrow, next month, but within the next six months to a year, you should already have your plan working, your plan move out.

[00:36:17]

Don't go into nothing expensive. OK, get into something. A nice small 600 square foot apartment, low rent there in Texas be between 800 to 1000 dollars. And now this way, you're working your plan and you're taking care of yourself because it sounds like you want to be a family man. Where how can you be a family man if you can't take care of yourself?

[00:36:39]

OK, so start the plan at home, then transition out on your own. Finished to plan. Right there by yourself, you know, and and I get it, you know, that was me, you know, my my dad when I came back home, after he and I fell out, after sleeping in my car and sleeping at friend's house, my dad gave me six months. He was like, hey, you got three to six months to get out of my house, OK?

[00:37:04]

And they took rent from me and rent wasn't a hundred dollars. You were generous and he was charging me five hundred dollars a month. But he said you got three to six months. So I got I got two jobs because I mean, I got to pay off the debt because I couldn't get an apartment with all this debt. And the whole time he's he's holding me accountable. He's checking my budget. I'm giving him the five hundred dollars. On top of that, he's making sure that I'm saving some money.

[00:37:29]

Then when I move out to get my own apartment, my dad gives me back the money.

[00:37:32]

So he did that too. So not only did I have my dad's money, but I also had the money. I was in my savings account. Good for him because I knew I was moving. I was saving to move out to buy furniture.

[00:37:41]

And what your dad gave you was a. Time, the time limit, time limit. Yup, he pressed you to start learning some hard decisions right now. You will pay rent. You will save money, right. And I'm going to hold you accountable if you're going to live in my house.

[00:37:55]

You can follow the rules and put before you.

[00:37:57]

Right. And it was the best thing for me. That's right. Because I had a lot of friends that stayed home till there was 28, 32 years old. I had one of my friends who actually now I won't say he or she, but his particular friend of mine is 35 years old and still living at home, not paying rent, not doing anything.

[00:38:17]

And I'm fearful because when this individual gets married, I don't know how this individual will be because they never experienced life on their own. They never had to pay electricity bill. They don't know what it feels like to have to pay actual bills. And so that's concerning for me. And so I recommend every young person after college not wrong with going home, get on a plan started, plan there and try this out on your own so that you can experience life.

[00:38:41]

You can make some mistakes, you can fail a little bit. And here's the thing.

[00:38:45]

When you get out on your own, still go back and ask your mom and dad and otherwise people for counsel, for wisdom, like, am I doing this right? Right. Am I making the right decision here? Even now, at 36 years old, I run things by Dave, I run things by my parents. I run things by my mentors. At 36, I'm a grown man.

[00:39:03]

Why? Because Dave has experienced all this stuff before, you know, so. Oh, man, this is a good day.

[00:39:09]

Michael, you're 23 years old, man. You've got the whole world to have you get that debt paid off, get that debt paid off. Get that job and get out of here. Dr. Deep, thanks so much. Man, I'm excited about your future. Thanks, brother. Next Monday is a big day for you. Thank you. I want to thank our producer, James Child and our associate producer and phone screen, Kelly Daniel. America, do not forget, the caliber of our financial future will be determined by the decisions we make to day.

[00:39:33]

This is the number one show in the world. Dave Ramsey. 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 at Dave Ramsey. Dotcom smart speaker.

[00:40:01]

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.

[00:40:31]

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 podcasts.

[00:40:51]

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.